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Allowance For Loan Losses | 3 Months Ended
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Mar. 31, 2012
Allowance For Loan Losses [Abstract] |
Allowance For Loan Losses | Note 6 – Allowance for Loan Losses The allowance for loan losses is that amount management believes is adequate to absorb probable incurred credit losses in the loan portfolio based on management’s evaluation of various factors including overall growth in the loan portfolio, an analysis of individual loans, prior and current loss experience, and current economic conditions. A provision for loan losses is charged to operations based on management’s periodic evaluation of these and other pertinent factors as discussed within Note 1 of the Notes to Consolidated Financial Statements included in Park’s 2011 Annual Report. The activity in the allowance for loan losses for the three months ended March 31, 2012 and March 31, 2011 is summarized below.
| Three months ended March 31, 2012 |  |  |  |  |  |
| Commercial, financial and agricultural | Commercial real estate | Construction real estate | Residential real estate | Consumer | Leases | Centennial loan put | Total |
(In thousands) |  |  |  |  |  |  |
Allowance for credit losses: |  |  |  |  |  |  |  |  |
Beginning balance | $ 16,950 | $ 15,539 | $ 14,433 | $ 15,692 | $ 5,830 | $ - | $ - | $ 68,444 |
Charge-offs | 4,538 | 4,934 | 4,320 | 3,922 | 1,253 | - | - | 18,967 |
Recoveries | 468 | 92 | 67 | 609 | 707 | - | - | 1,943 |
Net Charge-offs | 4,070 | 4,842 | 4,253 | 3,313 | 546 | - | - | 17,024 |
Provision | 5,448 | 1,309 | (433) | 1,489 | 525 | - | - | 8,338 |
Ending balance | $ 18,328 | $ 12,006 | $ 9,747 | $ 13,868 | $ 5,809 | $ - | - | $ 59,758 |
Provision for Centennial loan put | - | - | - | - | - | - | 662 | 662 |
Allowance for Credit Losses | $ 18,328 | $ 12,006 | $ 9,747 | $ 13,868 | $ 5,809 | $ - | $ 662 | $ 60,420 |
| Three months ended March 31, 2011
| Commercial, financial and agricultural | Commercial real estate | Construction real estate | Residential real estate | Consumer | Leases | Total
(In thousands) |
Allowance for credit losses: |  |  |  |  |  |  |
Beginning balance | $ 11,555 | $ 24,369 | $ 70,462 | $ 30,259 | $ 6,925 | $ 5 | $ 143,575
Charge-offs | 1,841 | 1,785 | 3,420 | 2,487 | 1,973 | - | 11,506
Recoveries | 569 | 802 | 96 | 501 | 390 | 3 | 2,361
Net Charge-offs | 1,272 | 983 | 3,324 | 1,986 | 1,583 | (3) | 9,145
Provision | 1,508 | 1,834 | 4,697 | 4,142 | 1,923 | (4) | 14,100
Ending balance | $ 11,791 | $ 25,220 | $ 71,835 | $ 32,415 | $ 7,265 | $ 4 | $ 148,530
The composition of the allowance for loan losses at March 31, 2012 and December 31, 2011 was as follows:
| March 31, 2012
| Commercial, financial and agricultural | Commercial real estate | Construction real estate | Residential real estate | Consumer | Leases | Total
(In thousands) |
Allowance for loan losses: |  |  |  |  |  |  |
Ending allowance balance attributed to loans: |  |  |  |  |  |  |
Individually evaluated for impairment | $4,704 | $ 1,506 | $ 2,096 | $ 1,199 | $ - | $ - | $ 9,505
Collectively evaluated for impairment | 13,624 | 10,500 | 7,651 | 12,669 | 5,809 | - | 50,253
Total ending allowance balance | $ 18,328 | $ 12,006 | $ 9,747 | $ 13,868 | $ 5,809 | $ - | $ 59,758
Loan balance: |  |  |  |  |  |  |
Loans individually evaluated for impairment | $ 40,210 | $ 43,265 | $ 52,046 | $ 43,752 | $ 20 | $ - | $ 179,293
Loans collectively evaluated for impairment | 712,182 | 1,045,083 | 151,769 | 1,623,947 | 610,160 | 1,949 | 4,145,090
Total ending loan balance | $ 752,392 | $ 1,088,348 | $ 203,815 | $ 1,667,699 | $ 610,180 | $ 1,949 | $ 4,324,383
Allowance for loan losses as a percentage of loan balance: |  |  |  |  |  |  |
Loans individually evaluated for impairment | 11.70% | 3.48% | 4.03% | 2.74% | -% | -% | 5.30%
Loans collectively evaluated for impairment | 1.91% | 1.00% | 5.04% | 0.78% | 0.95% | -% | 1.21%
Total ending loan balance | 2.44% | 1.10% | 4.78% | 0.83% | 0.95% | -% | 1.38%
Recorded investment: |  |  |  |  |  |  |
Loans individually evaluated for impairment | $ 40,241 | $ 43,305 | $ 52,106 | $ 43,752 | $ 20 | $ - | $ 179,424
Loans collectively evaluated for impairment | 715,590 | 1,048,838 | 152,282 | 1,627,708 | 612,740 | 2,001 | 4,159,159
Total ending loan balance | $ 755,831 | $ 1,092,143 | $ 204,388 | $ 1,671,460 | $ 612,760 | $ 2,001 | $ 4,338,583
| December 31, 2011
(In thousands) | Commercial, financial and agricultural | Commercial real estate | Construction real estate | Residential real estate | Consumer | Leases | Total
Allowance for loan losses: |  |  |  |  |  |  |
Ending allowance balance attributed to loans: |  |  |  |  |  |  |
Individually evaluated for impairment | $5,819 | $4,431 | $3,414 | $2,271 | $- | $- | $15,935
Collectively evaluated for impairment | 11,131 | 11,108 | 11,019 | 13,421 | 5,830 | - | 52,509
Total ending allowance balance | $ 16,950 | $ 15,539 | $ 14,433 | $ 15,692 | $ 5,830 | $ - | $ 68,444
Loan balance: |  |  |  |  |  |  |
Loans individually evaluated for impairment | $40,621 | $51,978 | $50,240 | $44,276 | $20 | $- | $187,135
Loans collectively evaluated for impairment | 703,176 | 1,056,596 | 167,306 | 1,584,342 | 616,485 | 2,059 | 4,129,964
Total ending loan balance | $743,797 | $1,108,574 | $217,546 | $1,628,618 | $616,505 | $2,059 | $4,317,099
Allowance for loan losses as a percentage of loan balance: |  |  |  |  |  |  |
Loans individually evaluated for impairment | 14.33% | 8.52% | 6.80% | 5.13% | -% | -% | 8.52%
Loans collectively evaluated for impairment | 1.58% | 1.05% | 6.59% | 0.85% | 0.95% | -% | 1.27%
Total ending loan balance | 2.28% | 1.40% | 6.63% | 0.96% | 0.95% | -% | 1.59%
Recorded investment: |  |  |  |  |  |  |
Loans individually evaluated for impairment | $40,621 | $51,978 | $50,240 | $44,276 | $20 | $- | $187,135
Loans collectively evaluated for impairment | 706,297 | 1,060,831 | 167,856 | 1,588,147 | 619,415 | 2,102 | 4,144,648
Total ending loan balance | $746,918 | $1,112,809 | $218,096 | $1,632,423 | $619,435 | $2,102 | $4,331,783
Loans collectively evaluated for impairment above include all performing loans at March 31, 2012 and December 31, 2011, as well as nonperforming loans internally classified as consumer loans. Nonperforming consumer loans are not typically individually evaluated for impairment, but receive a portion of the statistical allocation of the allowance for loan losses. Loans individually evaluated for impairment include all impaired loans internally classified as commercial loans at March 31, 2012 and December 31, 2011, which are evaluated for impairment in accordance with GAAP (see Note 1 of the Notes to Consolidated Financial Statements included in Park’s 2011 Annual Report).

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