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Allowance For Credit Losses (Tables) | 9 Months Ended
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Sep. 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.
| September 30, 2021
(in thousands) | 4-Rated Balance |  | Additional Reserve
Hotels and accommodations | $ | 123,249 |  |  | $ | 1,854 |
Restaurants and food service | 33,373 |  |  | 754 |
Strip shopping centers | 177,635 |  |  | 1,961 |
Total | $ | 334,257 |  |  | $ | 4,569 |
Additionally, management applied a 1.00% reserve to all hotels and accommodations loans in the collectively evaluated population to account for increased valuation risk. This is an increase from 0.50% at June 30, 2021 and considers some decline in various economic conditions due to the Delta variant and a decline in hotel occupancy rates. At September 30, 2021, Park's originated hotels and accommodation loans had a balance of $193.8 million with an additional reserve related to valuation risks of $1.9 million.
Activity In The Allowance For Loan Losses | The activity in the ACL for the three-month and nine-month periods ended September 30, 2021 and September 30, 2020 is summarized in the following tables.
| Three Months Ended September 30, 2021
(In thousands) | Commercial, financial and agricultural |  | Commercial real estate |  | Construction real estate |  | Residential real estate |  | Consumer |  | Leases |  | Total
ACL: |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 15,222 |  |  | $ | 22,749 |  |  | $ | 5,670 |  |  | $ | 13,113 |  |  | $ | 26,261 |  |  | $ | 562 |  |  | $ | 83,577 |
Charge-offs | 221 |  |  | — |  |  | — |  |  | — |  |  | 781 |  |  | — |  |  | 1,002 |
Recoveries | 132 |  |  | 428 |  |  | 1,597 |  |  | 729 |  |  | 696 |  |  | — |  |  | 3,582 |
Net charge-offs/(recoveries) | $ | 89 |  |  | $ | (428) |  |  | $ | (1,597) |  |  | $ | (729) |  |  | $ | 85 |  |  | $ | — |  |  | $ | (2,580) |
Provision for (recovery of) credit loss | 843 |  |  | 2,991 |  |  | (1,003) |  |  | (2,080) |  |  | 1,483 |  |  | (262) |  |  | 1,972 |
Ending balance | $ | 15,976 |  |  | $ | 26,168 |  |  | $ | 6,264 |  |  | $ | 11,762 |  |  | $ | 27,659 |  |  | $ | 300 |  |  | $ | 88,129 |
| Three Months Ended September 30, 2020
(In thousands) | Commercial, financial and agricultural |  | Commercial real estate |  | Construction real estate |  | Residential real estate |  | Consumer |  | Leases |  | Total
ACL: |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 23,476 |  |  | $ | 16,469 |  |  | $ | 6,828 |  |  | $ | 10,507 |  |  | $ | 15,624 |  |  | $ | 572 |  |  | $ | 73,476 |
Charge-offs | 241 |  |  | 45 |  |  | — |  |  | 34 |  |  | 1,208 |  |  | 1 |  |  | 1,529 |
Recoveries | 181 |  |  | 47 |  |  | 35 |  |  | 189 |  |  | 803 |  |  | — |  |  | 1,255 |
Net charge-offs/(recoveries) | $ | 60 |  |  | $ | (2) |  |  | $ | (35) |  |  | $ | (155) |  |  | $ | 405 |  |  | $ | 1 |  |  | $ | 274 |
Provision for credit loss | 3,571 |  |  | 6,417 |  |  | 1,544 |  |  | 546 |  |  | 1,750 |  |  | 8 |  |  | 13,836 |
Ending balance | $ | 26,987 |  |  | $ | 22,888 |  |  | $ | 8,407 |  |  | $ | 11,208 |  |  | $ | 16,969 |  |  | $ | 579 |  |  | $ | 87,038 |
| Nine Months Ended September 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 | 675 |  |  | — |  |  | — |  |  | 37 |  |  | 3,061 |  |  | — |  |  | 3,773 |
Recoveries | 487 |  |  | 724 |  |  | 2,078 |  |  | 859 |  |  | 2,912 |  |  | — |  |  | 7,060 |
Net charge-offs/(recoveries) | $ | 188 |  |  | $ | (724) |  |  | $ | (2,078) |  |  | $ | (822) |  |  | $ | 149 |  |  | $ | — |  |  | $ | (3,287) |
Recovery of credit loss | (1,187) |  |  | (155) |  |  | (1,204) |  |  | (3,544) |  |  | (535) |  |  | (298) |  |  | (6,923) |
Ending balance | $ | 15,976 |  |  | $ | 26,168 |  |  | $ | 6,264 |  |  | $ | 11,762 |  |  | $ | 27,659 |  |  | $ | 300 |  |  | $ | 88,129 |
| Nine Months Ended September 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 | 1,041 |  |  | 45 |  |  | 6 |  |  | 176 |  |  | 5,060 |  |  | 16 |  |  | 6,344 |
Recoveries | 1,061 |  |  | 690 |  |  | 628 |  |  | 457 |  |  | 2,654 |  |  | — |  |  | 5,490 |
Net (recoveries)/charge-offs | $ | (20) |  |  | $ | (645) |  |  | $ | (622) |  |  | $ | (281) |  |  | $ | 2,406 |  |  | $ | 16 |  |  | $ | 854 |
Provision for credit loss | 6,764 |  |  | 12,014 |  |  | 2,474 |  |  | 2,317 |  |  | 7,164 |  |  | 480 |  |  | 31,213 |
Ending balance | $ | 26,987 |  |  | $ | 22,888 |  |  | $ | 8,407 |  |  | $ | 11,208 |  |  | $ | 16,969 |  |  | $ | 579 |  |  | $ | 87,038 |
Composition Of The Allowance For Loan Losses | The composition of the ACL at September 30, 2021 and December 31, 2020 was as follows:
| September 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 | $ | 3,183 |  |  | $ | 180 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 103 |  |  | $ | 3,466 |
Collectively evaluated for impairment | 12,793 |  |  | 25,988 |  |  | 6,264 |  |  | 11,762 |  |  | 27,659 |  |  | 197 |  |  | 84,663 |
Acquired with deteriorated credit quality | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total ending allowance balance | $ | 15,976 |  |  | $ | 26,168 |  |  | $ | 6,264 |  |  | $ | 11,762 |  |  | $ | 27,659 |  |  | $ | 300 |  |  | $ | 88,129 |
Loan balance: |  |  |  |  |  |  |  |  |  |  |  |  |
Loans individually evaluated for impairment | $ | 22,018 |  |  | $ | 50,541 |  |  | $ | 442 |  |  | $ | 4,857 |  |  | $ | — |  |  | $ | 1,406 |  |  | $ | 79,264 |
Loans collectively evaluated for impairment | 1,292,601 |  |  | 1,704,527 |  |  | 341,480 |  |  | 1,746,339 |  |  | 1,715,324 |  |  | 20,177 |  |  | 6,820,448 |
Loans acquired with deteriorated credit quality | 251 |  |  | 6,528 |  |  | 965 |  |  | 912 |  |  | — |  |  | 49 |  |  | 8,705 |
Total ending loan balance | $ | 1,314,870 |  |  | $ | 1,761,596 |  |  | $ | 342,887 |  |  | $ | 1,752,108 |  |  | $ | 1,715,324 |  |  | $ | 21,632 |  |  | $ | 6,908,417 |
ACL as a percentage of loan balance: |  |  |  |  |  |  |  |  |  |  |  |  |
Loans individually evaluated for impairment | 14.46 | % |  | 0.36 | % |  | — | % |  | — | % |  | — | % |  | 7.33 | % |  | 4.37 | %
Loans collectively evaluated for impairment | 0.99 | % |  | 1.52 | % |  | 1.83 | % |  | 0.67 | % |  | 1.61 | % |  | 0.98 | % |  | 1.24 | %
Loans acquired with deteriorated credit quality | — | % |  | — | % |  | — | % |  | — | % |  | — | % |  | — | % |  | — | %
Total | 1.22 | % |  | 1.49 | % |  | 1.83 | % |  | 0.67 | % |  | 1.61 | % |  | 1.39 | % |  | 1.28 | %
|  | 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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