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Allowance For Credit Losses (Tables) | 6 Months Ended
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Jun. 30, 2021
Financing Receivable, Allowance for Credit Loss, Writeoff, after Recovery [Abstract] |
Schedule of High Risk Industries Additional Reserves | A breakout of the 4-rated balances within these portfolios and the additional reserve related to these portfolios is detailed in the following table.
| June 30, 2021
(in thousands) | 4-Rated Balance |  | Additional Reserve
Hotels and accommodations | $ | 123,843 |  |  | $ | 1,397 |
Restaurants and food service | 31,373 |  |  | 532 |
Strip shopping centers | 177,302 |  |  | 1,468 |
Total | $ | 332,518 |  |  | $ | 3,397 |
Additionally, management applied a 0.50% reserve to all hotels and accommodations loans in the collectively evaluated population to account for increased valuation risk. This is a reduction from 1.00% at March 31, 2021 and considers improved economic conditions and increased hotel occupancy rates. At June 30, 2021, Park's originated hotels and accommodation loans had a balance of $193.9 million with an additional reserve related to valuation risks of $1.0 million.
Activity In The Allowance For Loan Losses | The activity in the ACL for the three-month and six-month periods ended June 30, 2021 and June 30, 2020 is summarized in the following tables.
| Three Months Ended June 30, 2021
(In thousands) | Commercial, financial and agricultural |  | Commercial real estate |  | Construction real estate |  | Residential real estate |  | Consumer |  | Leases |  | Total
ACL: |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 16,279 |  |  | $ | 24,487 |  |  | $ | 5,813 |  |  | $ | 14,037 |  |  | $ | 25,729 |  |  | $ | 541 |  |  | $ | 86,886 |
Charge-offs | 308 |  |  | — |  |  | — |  |  | 26 |  |  | 736 |  |  | — |  |  | 1,070 |
Recoveries | 232 |  |  | 210 |  |  | 229 |  |  | 68 |  |  | 1,062 |  |  | — |  |  | 1,801 |
Net charge-offs/(recoveries) | $ | 76 |  |  | $ | (210) |  |  | $ | (229) |  |  | $ | (42) |  |  | $ | (326) |  |  | $ | — |  |  | $ | (731) |
(Recovery of) provision for credit loss | (981) |  |  | (1,948) |  |  | (372) |  |  | (966) |  |  | 206 |  |  | 21 |  |  | (4,040) |
Ending balance | $ | 15,222 |  |  | $ | 22,749 |  |  | $ | 5,670 |  |  | $ | 13,113 |  |  | $ | 26,261 |  |  | $ | 562 |  |  | $ | 83,577 |
| Three Months Ended June 30, 2020
(In thousands) | Commercial, financial and agricultural |  | Commercial real estate |  | Construction real estate |  | Residential real estate |  | Consumer |  | Leases |  | Total
ACL: |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 21,544 |  |  | $ | 11,591 |  |  | $ | 5,493 |  |  | $ | 9,017 |  |  | $ | 13,728 |  |  | $ | 130 |  |  | $ | 61,503 |
Charge-offs | 277 |  |  | — |  |  | — |  |  | 71 |  |  | 1,767 |  |  | 15 |  |  | 2,130 |
Recoveries | 180 |  |  | 343 |  |  | 363 |  |  | 172 |  |  | 821 |  |  | — |  |  | 1,879 |
Net charge-offs/(recoveries) | $ | 97 |  |  | $ | (343) |  |  | $ | (363) |  |  | $ | (101) |  |  | $ | 946 |  |  | $ | 15 |  |  | $ | 251 |
Provision for credit loss | 2,029 |  |  | 4,535 |  |  | 972 |  |  | 1,389 |  |  | 2,842 |  |  | 457 |  |  | 12,224 |
Ending balance | $ | 23,476 |  |  | $ | 16,469 |  |  | $ | 6,828 |  |  | $ | 10,507 |  |  | $ | 15,624 |  |  | $ | 572 |  |  | $ | 73,476 |
| Six Months Ended June 30, 2021
(In thousands) | Commercial, financial and agricultural |  | Commercial real estate |  | Construction real estate |  | Residential real estate |  | Consumer |  | Leases |  | Total
ACL: |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance, prior to adoption of ASC 326 | $ | 25,608 |  |  | $ | 23,480 |  |  | $ | 7,288 |  |  | $ | 11,363 |  |  | $ | 17,418 |  |  | $ | 518 |  |  | $ | 85,675 |
Impact of adopting ASC 326 | (8,257) |  |  | 2,119 |  |  | (1,898) |  |  | 3,121 |  |  | 10,925 |  |  | 80 |  |  | 6,090 |
Charge-offs | 454 |  |  | — |  |  | — |  |  | 37 |  |  | 2,280 |  |  | — |  |  | 2,771 |
Recoveries | 355 |  |  | 296 |  |  | 481 |  |  | 130 |  |  | 2,216 |  |  | — |  |  | 3,478 |
Net charge-offs/(recoveries) | $ | 99 |  |  | $ | (296) |  |  | $ | (481) |  |  | $ | (93) |  |  | $ | 64 |  |  | $ | — |  |  | $ | (707) |
Recovery of credit loss | (2,030) |  |  | (3,146) |  |  | (201) |  |  | (1,464) |  |  | (2,018) |  |  | (36) |  |  | (8,895) |
Ending balance | $ | 15,222 |  |  | $ | 22,749 |  |  | $ | 5,670 |  |  | $ | 13,113 |  |  | $ | 26,261 |  |  | $ | 562 |  |  | $ | 83,577 |
| Six Months Ended June 30, 2020
(In thousands) | Commercial, financial and agricultural |  | Commercial real estate |  | Construction real estate |  | Residential real estate |  | Consumer |  | Leases |  | Total
ACL: |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 20,203 |  |  | $ | 10,229 |  |  | $ | 5,311 |  |  | $ | 8,610 |  |  | $ | 12,211 |  |  | $ | 115 |  |  | $ | 56,679 |
Charge-offs | 800 |  |  | — |  |  | 6 |  |  | 142 |  |  | 3,852 |  |  | 15 |  |  | 4,815 |
Recoveries | 880 |  |  | 643 |  |  | 593 |  |  | 268 |  |  | 1,851 |  |  | — |  |  | 4,235 |
Net (recoveries)/charge-offs | $ | (80) |  |  | $ | (643) |  |  | $ | (587) |  |  | $ | (126) |  |  | $ | 2,001 |  |  | $ | 15 |  |  | $ | 580 |
Provision for credit loss | 3,193 |  |  | 5,597 |  |  | 930 |  |  | 1,771 |  |  | 5,414 |  |  | 472 |  |  | 17,377 |
Ending balance | $ | 23,476 |  |  | $ | 16,469 |  |  | $ | 6,828 |  |  | $ | 10,507 |  |  | $ | 15,624 |  |  | $ | 572 |  |  | $ | 73,476 |
Composition Of The Allowance For Loan Losses | The composition of the ACL at June 30, 2021 and December 31, 2020 was as follows:
| June 30, 2021
(In thousands) | Commercial, financial and agricultural |  | Commercial real estate |  | Construction real estate |  | Residential real estate |  | Consumer |  | Leases |  | Total
ACL: |  |  |  |  |  |  |  |  |  |  |  |  |
Ending allowance balance attributed to loans: |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment | $ | 3,327 |  |  | $ | 360 |  |  | $ | — |  |  | $ | 23 |  |  | $ | — |  |  | $ | 205 |  |  | $ | 3,915 |
Collectively evaluated for impairment | 11,895 |  |  | 22,389 |  |  | 5,670 |  |  | 13,090 |  |  | 26,261 |  |  | 357 |  |  | 79,662 |
Acquired with deteriorated credit quality | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total ending allowance balance | $ | 15,222 |  |  | $ | 22,749 |  |  | $ | 5,670 |  |  | $ | 13,113 |  |  | $ | 26,261 |  |  | $ | 562 |  |  | $ | 83,577 |
Loan balance: |  |  |  |  |  |  |  |  |  |  |  |  |
Loans individually evaluated for impairment | $ | 22,120 |  |  | $ | 56,686 |  |  | $ | 460 |  |  | $ | 6,073 |  |  | $ | — |  |  | $ | 1,535 |  |  | $ | 86,874 |
Loans collectively evaluated for impairment | 1,439,276 |  |  | 1,714,429 |  |  | 328,065 |  |  | 1,746,369 |  |  | 1,689,581 |  |  | 21,045 |  |  | 6,938,765 |
Loans acquired with deteriorated credit quality | 278 |  |  | 6,691 |  |  | 975 |  |  | 1,970 |  |  | — |  |  | 93 |  |  | 10,007 |
Total ending loan balance | $ | 1,461,674 |  |  | $ | 1,777,806 |  |  | $ | 329,500 |  |  | $ | 1,754,412 |  |  | $ | 1,689,581 |  |  | $ | 22,673 |  |  | $ | 7,035,646 |
ACL as a percentage of loan balance: |  |  |  |  |  |  |  |  |  |  |  |  |
Loans individually evaluated for impairment | 15.04 | % |  | 0.64 | % |  | — | % |  | 0.38 | % |  | — | % |  | 13.36 | % |  | 4.51 | %
Loans collectively evaluated for impairment | 0.83 | % |  | 1.31 | % |  | 1.73 | % |  | 0.75 | % |  | 1.55 | % |  | 1.70 | % |  | 1.15 | %
Loans acquired with deteriorated credit quality | — | % |  | — | % |  | — | % |  | — | % |  | — | % |  | — | % |  | — | %
Total | 1.04 | % |  | 1.28 | % |  | 1.72 | % |  | 0.75 | % |  | 1.55 | % |  | 2.48 | % |  | 1.19 | %
|  | December 31, 2020
(In thousands) |  | Commercial, financial and agricultural |  | Commercial real estate |  | Construction real estate |  | Residential real estate |  | Consumer |  | Leases |  | Total
ACL: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending allowance balance attributed to loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 3,758 |  |  | $ | 1,316 |  |  | $ | — |  |  | $ | 16 |  |  | $ | — |  |  | $ | 344 |  |  | $ | 5,434 |
Collectively evaluated for impairment |  | 21,809 |  |  | 22,093 |  |  | 7,288 |  |  | 11,292 |  |  | 17,418 |  |  | 174 |  |  | 80,074 |
Acquired with deteriorated credit quality |  | 41 |  |  | 71 |  |  | — |  |  | 55 |  |  | — |  |  | — |  |  | 167 |
Total ending allowance balance |  | $ | 25,608 |  |  | $ | 23,480 |  |  | $ | 7,288 |  |  | $ | 11,363 |  |  | $ | 17,418 |  |  | $ | 518 |  |  | $ | 85,675 |
Loan balance: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans individually evaluated for impairment |  | $ | 28,811 |  |  | $ | 70,334 |  |  | $ | 3,110 |  |  | $ | 4,557 |  |  | $ | — |  |  | $ | 1,595 |  |  | $ | 108,407 |
Loans collectively evaluated for impairment |  | 1,559,842 |  |  | 1,670,510 |  |  | 339,312 |  |  | 1,806,126 |  |  | 1,659,704 |  |  | 22,731 |  |  | 7,058,225 |
Loans acquired with deteriorated credit quality |  | 336 |  |  | 7,345 |  |  | 999 |  |  | 2,361 |  |  | — |  |  | 112 |  |  | 11,153 |
Total ending loan balance |  | $ | 1,588,989 |  |  | $ | 1,748,189 |  |  | $ | 343,421 |  |  | $ | 1,813,044 |  |  | $ | 1,659,704 |  |  | $ | 24,438 |  |  | $ | 7,177,785 |
ACL as a percentage of loan balance: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans individually evaluated for impairment |  | 13.04 | % |  | 1.87 | % |  | — | % |  | 0.35 | % |  | — | % |  | 21.57 | % |  | 5.01 | %
Loans collectively evaluated for impairment |  | 1.40 | % |  | 1.32 | % |  | 2.15 | % |  | 0.63 | % |  | 1.05 | % |  | 0.77 | % |  | 1.13 | %
Loans acquired with deteriorated credit quality |  | 12.20 | % |  | 0.97 | % |  | — | % |  | 2.33 | % |  | — | % |  | — | % |  | 1.50 | %
Total |  | 1.61 | % |  | 1.34 | % |  | 2.12 | % |  | 0.63 | % |  | 1.05 | % |  | 2.12 | % |  | 1.19 | %
Recorded investment: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans individually evaluated for impairment |  | $ | 28,836 |  |  | $ | 70,357 |  |  | $ | 3,110 |  |  | $ | 4,557 |  |  | $ | — |  |  | $ | 1,595 |  |  | $ | 108,455 |
Loans collectively evaluated for impairment |  | 1,566,344 |  |  | 1,676,388 |  |  | 340,116 |  |  | 1,808,892 |  |  | 1,664,214 |  |  | 22,745 |  |  | 7,078,699 |
Loans acquired with deteriorated credit quality |  | 337 |  |  | 7,461 |  |  | 1,002 |  |  | 2,372 |  |  | — |  |  | 112 |  |  | 11,284 |
Total ending recorded investment |  | $ | 1,595,517 |  |  | $ | 1,754,206 |  |  | $ | 344,228 |  |  | $ | 1,815,821 |  |  | $ | 1,664,214 |  |  | $ | 24,452 |  |  | $ | 7,198,438 |

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