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Allowance for Loan Losses and Credit Quality of Loans (Tables)
 9 Months Ended
Sep. 30, 2016
Allowance for Loan Losses and Credit Quality of Loans [Abstract]  
Portfolio and Class Segments
The following table illustrates the portfolio and class segments for the Company’s loan portfolio:
  
Portfolio
Class
Commercial Loans
Commercial
 
Commercial Real Estate
 
Agricultural
 
Agricultural Real Estate
 
Business Banking
Consumer Loans
Indirect
 
Home Equity
 
Direct
Residential Real Estate Mortgages
 
Allowance for Loan Losses by Portfolio
The following tables illustrate the changes in the allowance for loan losses by our portfolio segments for the three and nine months ended September 30, 2016 and 2015 (in thousands):
 
Three months ended September 30,
 
Commercial Loans
  
Consumer Loans
  
Residential Real Estate Mortgages
  
Unallocated
  
Total
 
Balance as of June 30, 2016
 
$
25,222
  
$
31,471
  
$
7,875
  
$
-
  
$
64,568
 
Charge-offs
  
(637
)
  
(6,046
)
  
(142
)
  
-
   
(6,825
)
Recoveries
  
512
   
898
   
127
   
-
   
1,537
 
Provision
  
1,514
   
6,078
   
(1,481
)
  
277
   
6,388
 
Ending Balance as of September 30, 2016
 
$
26,611
  
$
32,401
  
$
6,379
  
$
277
  
$
65,668
 
 
                    
Balance as of June 30, 2015
 
$
28,326
  
$
28,314
  
$
8,281
  
$
38
  
$
64,959
 
Charge-offs
  
(1,333
)
  
(4,530
)
  
(511
)
  
-
   
(6,374
)
Recoveries
  
258
   
889
   
161
   
-
   
1,308
 
Provision
  
(2,800
)
  
7,333
   
51
   
382
   
4,966
 
Ending Balance as of September 30, 2015
 
$
24,451
  
$
32,006
  
$
7,982
  
$
420
  
$
64,859
 

Nine months ended September 30,
 
Commercial Loans
  
Consumer Loans
  
Residential Real Estate Mortgages
  
Unallocated
  
Total
 
Balance as of December 31, 2015
 
$
25,545
  
$
29,253
  
$
7,960
  
$
260
  
$
63,018
 
Charge-offs
  
(1,723
)
  
(16,409
)
  
(1,119
)
  
-
   
(19,251
)
Recoveries
  
1,616
   
2,779
   
240
   
-
   
4,635
 
Provision
  
1,173
   
16,778
   
(702
)
  
17
   
17,266
 
Ending Balance as of September 30, 2016
 
$
26,611
  
$
32,401
  
$
6,379
  
$
277
  
$
65,668
 
 
                    
Balance as of December 31, 2014
 
$
32,433
  
$
26,720
  
$
7,130
  
$
76
  
$
66,359
 
Charge-offs
  
(2,715
)
  
(13,183
)
  
(1,524
)
  
-
   
(17,422
)
Recoveries
  
772
   
2,334
   
310
   
-
   
3,416
 
Provision
  
(6,039
)
  
16,135
   
2,066
   
344
   
12,506
 
Ending Balance as of September 30, 2015
 
$
24,451
  
$
32,006
  
$
7,982
  
$
420
  
$
64,859
 

The following tables illustrate the allowance for loan losses and the recorded investment by portfolio segments as of September 30, 2016 and December 31, 2015:
 
Allowance for Loan Losses and Recorded Investment in Loans
(In thousands)
 
 
 
Commercial Loans
  
Consumer Loans
  
Residential Real Estate Mortgages
  
Unallocated
  
Total
 
As of September 30, 2016
               
Allowance for loan losses
 
$
26,611
  
$
32,401
  
$
6,379
  
$
277
  
$
65,668
 
 
                    
Allowance for loans individually evaluated for impairment
  
3,372
   
-
   
-
   
-
   
3,372
 
 
                    
Allowance for loans collectively evaluated for impairment
 
$
23,239
  
$
32,401
  
$
6,379
  
$
277
  
$
62,296
 
 
                    
Ending balance of loans
 
$
2,781,143
  
$
2,138,705
  
$
1,240,337
      
$
6,160,185
 
 
                    
Ending balance of originated loans individually evaluated for impairment
  
21,594
   
8,502
   
6,088
       
36,184
 
Ending balance of acquired loans individually evaluated for impairment
  
1,205
   
-
   
-
       
1,205
 
Ending balance of acquired loans collectively evaluated for impairment
  
252,414
   
69,173
   
207,289
       
528,876
 
Ending balance of originated loans collectively evaluated for impairment
 
$
2,505,930
  
$
2,061,030
  
$
1,026,960
      
$
5,593,920
 
 
                    
As of December 31, 2015
                    
Allowance for loan losses
 
$
25,545
  
$
29,253
  
$
7,960
  
$
260
  
$
63,018
 
 
                    
Allowance for loans individually evaluated for impairment
  
2,005
   
-
   
-
   
-
   
2,005
 
 
                    
Allowance for loans collectively evaluated for impairment
 
$
23,540
  
$
29,253
  
$
7,960
  
$
260
  
$
61,013
 
 
                    
Ending balance of loans
 
$
2,589,707
  
$
2,096,646
  
$
1,196,780
      
$
5,883,133
 
 
                    
Ending balance of originated loans individually evaluated for impairment
  
12,253
   
7,693
   
6,017
       
25,963
 
Ending balance of acquired loans individually evaluated for impairment
  
1,205
   
-
   
-
       
1,205
 
Ending balance of acquired loans collectively evaluated for impairment
  
284,524
   
95,427
   
230,358
       
610,309
 
Ending balance of originated loans collectively evaluated for impairment
 
$
2,291,725
  
$
1,993,526
  
$
960,405
      
$
5,245,656
 
Past Due and Nonperforming Loans by Loan Class
The following tables set forth information with regard to past due and nonperforming loans by loan class as of September 30, 2016 and December 31, 2015:
 
Age Analysis of Past Due Financing Receivables
As of September 30, 2016
(In thousands)
 
  
31-60 Days Past Due Accruing
  
61-90 Days Past Due Accruing
  
Greater Than 90 Days Past Due Accruing
  
Total Past Due Accruing
  
Nonaccrual
  
Current
  
Recorded Total Loans
 
ORIGINATED
                     
Commercial Loans
                     
Commercial
 
$
416
  
$
6
  
$
-
  
$
422
  
$
3,188
  
$
676,143
  
$
679,753
 
Commercial Real Estate
  
-
   
152
   
-
   
152
   
13,748
   
1,301,079
   
1,314,979
 
Agricultural
  
-
   
-
   
-
   
-
   
1,069
   
36,236
   
37,305
 
Agricultural Real Estate
  
-
   
-
   
-
   
-
   
1,686
   
30,710
   
32,396
 
Business Banking
  
1,622
   
598
   
-
   
2,220
   
3,969
   
456,902
   
463,091
 
 
  
2,038
   
756
   
-
   
2,794
   
23,660
   
2,501,070
   
2,527,524
 
 
                            
Consumer Loans
                            
Indirect
  
14,618
   
3,559
   
2,412
   
20,589
   
1,830
   
1,523,881
   
1,546,300
 
Home Equity
  
3,420
   
864
   
383
   
4,667
   
3,083
   
452,056
   
459,806
 
Direct
  
413
   
171
   
38
   
622
   
82
   
62,722
   
63,426
 
 
  
18,451
   
4,594
   
2,833
   
25,878
   
4,995
   
2,038,659
   
2,069,532
 
Residential Real Estate Mortgages
  
2,400
   
151
   
489
   
3,040
   
6,579
   
1,023,429
   
1,033,048
 
 
 
$
22,889
  
$
5,501
  
$
3,322
  
$
31,712
  
$
35,234
  
$
5,563,158
  
$
5,630,104
 
 
                            
ACQUIRED
                            
Commercial Loans
                            
Commercial
 
$
-
  
$
-
  
$
-
  
$
-
  
$
-
  
$
59,215
  
$
59,215
 
Commercial Real Estate
  
-
   
-
   
834
   
834
   
1,898
   
140,390
   
143,122
 
Business Banking
  
887
   
64
   
-
   
951
   
403
   
49,928
   
51,282
 
 
  
887
   
64
   
834
   
1,785
   
2,301
   
249,533
   
253,619
 
 
                            
Consumer Loans
                            
Indirect
  
64
   
29
   
6
   
99
   
53
   
12,157
   
12,309
 
Home Equity
  
239
   
9
   
34
   
282
   
321
   
53,003
   
53,606
 
Direct
  
11
   
-
   
-
   
11
   
42
   
3,205
   
3,258
 
 
  
314
   
38
   
40
   
392
   
416
   
68,365
   
69,173
 
Residential Real Estate Mortgages
  
822
   
127
   
248
   
1,197
   
2,765
   
203,327
   
207,289
 
  
$
2,023
  
$
229
  
$
1,122
  
$
3,374
  
$
5,482
  
$
521,225
  
$
530,081
 
Total Loans
 
$
24,912
  
$
5,730
  
$
4,444
  
$
35,086
  
$
40,716
  
$
6,084,383
  
$
6,160,185
 
 
 
Age Analysis of Past Due Financing Receivables
As of December 31, 2015
(In thousands)
 
  
31-60 Days Past Due Accruing
  
61-90 Days Past Due Accruing
  
Greater Than 90 Days Past Due Accruing
  
Total Past Due Accruing
  
Nonaccrual
  
Current
  
Recorded Total Loans
 
ORIGINATED
                     
Commercial Loans
                     
Commercial
 
$
782
  
$
23
  
$
-
  
$
805
  
$
2,817
  
$
640,696
  
$
644,318
 
Commercial Real Estate
  
39
   
32
   
-
   
71
   
5,546
   
1,189,280
   
1,194,897
 
Agricultural
  
94
   
-
   
-
   
94
   
897
   
33,633
   
34,624
 
Agricultural Real Estate
  
-
   
-
   
-
   
-
   
1,046
   
28,172
   
29,218
 
Business Banking
  
912
   
394
   
-
   
1,306
   
4,247
   
395,368
   
400,921
 
 
  
1,827
   
449
   
-
   
2,276
   
14,553
   
2,287,149
   
2,303,978
 
 
                            
Consumer Loans
                            
Indirect
  
15,731
   
2,963
   
2,271
   
20,965
   
1,786
   
1,454,499
   
1,477,250
 
Home Equity
  
3,396
   
1,671
   
340
   
5,407
   
4,835
   
454,473
   
464,715
 
Direct
  
425
   
201
   
28
   
654
   
49
   
58,551
   
59,254
 
 
  
19,552
   
4,835
   
2,639
   
27,026
   
6,670
   
1,967,523
   
2,001,219
 
Residential Real Estate Mortgages
  
3,301
   
365
   
696
   
4,362
   
7,713
   
954,347
   
966,422
 
 
 
$
24,680
  
$
5,649
  
$
3,335
  
$
33,664
  
$
28,936
  
$
5,209,019
  
$
5,271,619
 
                             
ACQUIRED
                            
Commercial Loans
                            
Commercial
 
$
-
  
$
-
  
$
-
  
$
-
  
$
-
  
$
68,991
  
$
68,991
 
Commercial Real Estate
  
-
   
-
   
-
   
-
   
1,313
   
165,630
   
166,943
 
Business Banking
  
288
   
-
   
-
   
288
   
307
   
49,200
   
49,795
 
 
  
288
   
-
   
-
   
288
   
1,620
   
283,821
   
285,729
 
 
                            
Consumer Loans
                            
Indirect
  
143
   
11
   
1
   
155
   
104
   
27,516
   
27,775
 
Home Equity
  
327
   
132
   
-
   
459
   
457
   
62,811
   
63,727
 
Direct
  
76
   
20
   
-
   
96
   
43
   
3,786
   
3,925
 
   
546
   
163
   
1
   
710
   
604
   
94,113
   
95,427
 
Residential Real Estate Mortgages
  
1,443
   
293
   
326
   
2,062
   
2,584
   
225,712
   
230,358
 
 
 
$
2,277
  
$
456
  
$
327
  
$
3,060
  
$
4,808
  
$
603,646
  
$
611,514
 
Total Loans
 
$
26,957
  
$
6,105
  
$
3,662
  
$
36,724
  
$
33,744
  
$
5,812,665
  
$
5,883,133
 
Impaired Loans and Specific Reserve Allocations
The following table provides information on loans specifically evaluated for impairment as of September 30, 2016 and December 31, 2015:
 
  
 
September 30, 2016
  
December 31, 2015
 
(In thousands)
 
RecordedInvestmentBalance(Book)
  
UnpaidPrincipalBalance(Legal)
  
RelatedAllowance
  
RecordedInvestmentBalance(Book)
  
UnpaidPrincipalBalance(Legal)
  
RelatedAllowance
 
ORIGINATED
                  
With no related allowance recorded:
                  
Commercial Loans
                  
Commercial
 
$
2,174
  
$
2,441
     
$
2,244
  
$
2,490
    
Commercial Real Estate
  
8,469
   
8,602
      
3,165
   
3,175
    
Agricultural
  
133
   
139
      
576
   
1,164
    
Agricultural Real Estate
  
1,457
   
1,583
      
618
   
744
    
Business Banking
  
665
   
732
      
983
   
1,033
    
Total Commercial Loans
  
12,898
   
13,497
      
7,586
   
8,606
    
 
                      
Consumer Loans
                      
Indirect
  
7
   
17
      
12
   
21
    
Home Equity
  
8,495
   
9,463
      
7,681
   
8,574
    
Direct
  
-
   
-
      
-
   
-
    
Total Consumer Loans
  
8,502
   
9,480
      
7,693
   
8,595
    
 
                      
Residential Real Estate Mortgages
  
6,088
   
6,910
      
6,017
   
6,627
    
Total
  
27,488
   
29,887
      
21,296
   
23,828
    
 
                      
With an allowance recorded:
                      
Commercial Loans
                      
Commercial
  
1,014
   
1,022
  
$
555
   
457
   
457
  
$
300
 
Commercial Real Estate
  
7,476
   
9,324
   
2,035
   
4,210
   
6,059
   
970
 
Agricultural
  
50
   
50
   
37
   
-
   
-
   
-
 
Agricultural Real Estate
  
156
   
156
   
54
   
-
   
-
   
-
 
Total Commercial Loans
  
8,696
   
10,552
   
2,681
   
4,667
   
6,516
   
1,270
 
                         
ACQUIRED
                        
With an allowance recorded:
                        
Commercial Loans
                        
Commercial Real Estate
  
1,205
   
1,321
   
691
   
1,205
   
1,321
   
735
 
Total Commercial Loans
  
1,205
   
1,321
   
691
   
1,205
   
1,321
   
735
 
                         
Total:
 
$
37,389
  
$
41,760
  
$
3,372
  
$
27,168
  
$
31,665
  
$
2,005
 
 
 
The following tables summarize the average recorded investments on impaired loans specifically evaluated for impairment and the interest income recognized for the three and nine months ended September 30, 2016 and 2015:
 
 
 
For the three months ended
 
 
 
September 30, 2016
  
September 30, 2015
 
(In thousands)
 
Average Recorded Investment
  
Interest Income Recognized
  
Average Recorded Investment
  
Interest Income Recognized
 
ORIGINATED
            
Commercial Loans
            
Commercial
 
$
3,204
  
$
-
  
$
2,469
  
$
42
 
Commercial Real Estate
  
15,799
   
48
   
8,560
   
42
 
Agricultural
  
85
   
-
   
19
   
-
 
Agricultural Real Estate
  
935
   
11
   
626
   
11
 
Business Banking
  
743
   
-
   
1,003
   
3
 
Consumer Loans
                
Indirect
  
8
   
-
   
20
   
-
 
Home Equity
  
8,401
   
116
   
7,432
   
134
 
Direct
  
-
   
-
   
-
   
-
 
Residential Real Estate Mortgage
  
6,141
   
76
   
5,564
   
37
 
Total Originated
 
$
35,316
  
$
251
  
$
25,693
  
$
269
 
 
                
ACQUIRED
                
Commercial Loans
                
Commercial
  
-
   
-
   
2,531
   
-
 
Commercial Real Estate
  
1,205
   
-
   
6,918
   
-
 
Total Acquired
 
$
1,205
  
$
-
  
$
9,449
  
$
-
 
Total Loans
 
$
36,521
  
$
251
  
$
35,142
  
$
269
 

 
 
For the nine months ended
 
 
 
September 30, 2016
  
September 30, 2015
 
(In thousands)
 
Average Recorded Investment
  
Interest Income Recognized
  
Average Recorded Investment
  
Interest Income Recognized
 
ORIGINATED
            
Commercial Loans
            
Commercial
 
$
3,041
  
$
-
  
$
2,026
  
$
128
 
Commercial Real Estate
  
14,782
   
122
   
8,884
   
124
 
Agricultural
  
101
   
1
   
19
   
1
 
Agricultural Real Estate
  
742
   
33
   
630
   
34
 
Business Banking
  
882
   
7
   
952
   
9
 
Consumer Loans
                
Indirect
  
9
   
-
   
14
   
-
 
Home Equity
  
8,207
   
357
   
6,869
   
298
 
Direct
  
-
   
-
   
1
   
-
 
Residential Real Estate Mortgage
  
6,147
   
211
   
4,857
   
100
 
Total Originated
 
$
33,911
  
$
731
  
$
24,252
  
$
694
 
                 
ACQUIRED
                
Commercial Loans
                
Commercial
  
-
   
-
   
2,658
   
-
 
Commercial Real Estate
  
1,205
   
-
   
7,070
   
-
 
Total Acquired
 
$
1,205
  
$
-
  
$
9,728
  
$
-
 
Total Loans
 
$
35,116
  
$
731
  
$
33,980
  
$
694
 
Financing Receivable Credit Quality by Loan Class
The following tables illustrate the Company’s credit quality by loan class as of September 30, 2016 and December 31, 2015:
 
Credit Quality Indicators
As of September 30, 2016
(In thousands)
 
ORIGINATED
               
Commercial Credit Exposure By Internally Assigned Grade:
 
Commercial
  
Commercial Real Estate
  
Agricultural
  
Agricultural Real Estate
  
Total
 
Pass
 
$
631,244
  
$
1,262,056
  
$
36,493
  
$
29,254
  
$
1,959,047
 
Special Mention
  
9,307
   
13,110
   
1
   
1,480
   
23,898
 
Substandard
  
39,202
   
39,813
   
806
   
1,662
   
81,483
 
Doubtful
  
-
   
-
   
5
   
-
   
5
 
Total
 
$
679,753
  
$
1,314,979
  
$
37,305
  
$
32,396
  
$
2,064,433
 
 
                    
Business Banking Credit Exposure By Internally Assigned Grade:
 
Business Banking
              
Total
 
Non-classified
 
$
449,947
              
$
449,947
 
Classified
  
13,144
               
13,144
 
Total
 
$
463,091
              
$
463,091
 
 
                    
Consumer Credit Exposure By Payment Activity:
 
Indirect
  
Home Equity
  
Direct
      
Total
 
Performing
 
$
1,542,058
  
$
456,340
  
$
63,306
      
$
2,061,704
 
Nonperforming
  
4,242
   
3,466
   
120
       
7,828
 
Total
 
$
1,546,300
  
$
459,806
  
$
63,426
      
$
2,069,532
 
 
                    
Residential Mortgage Credit Exposure By Payment Activity:
 
Residential Mortgage
              
Total
 
Performing
 
$
1,025,980
              
$
1,025,980
 
Nonperforming
  
7,068
               
7,068
 
Total
 
$
1,033,048
              
$
1,033,048
 
 

Credit Quality Indicators
As of September 30, 2016
(In thousands)
 
ACQUIRED
            
Commercial Credit Exposure By Internally Assigned Grade:
 
Commercial
  
Commercial Real Estate
     
Total
 
Pass
 
$
57,040
  
$
131,985
     
$
189,025
 
Special Mention
  
171
   
1,248
      
1,419
 
Substandard
  
2,004
   
9,889
      
11,893
 
Total
 
$
59,215
  
$
143,122
     
$
202,337
 
 
               
Business Banking Credit Exposure By Internally Assigned Grade:
 
Business Banking
         
Total
 
Non-classified
 
$
47,983
         
$
47,983
 
Classified
  
3,299
          
3,299
 
Total
 
$
51,282
         
$
51,282
 
 
               
Consumer Credit Exposure By Payment Activity:
 
Indirect
  
Home Equity
  
Direct
  
Total
 
Performing
 
$
12,250
  
$
53,251
  
$
3,216
  
$
68,717
 
Nonperforming
  
59
   
355
   
42
   
456
 
Total
 
$
12,309
  
$
53,606
  
$
3,258
  
$
69,173
 
 
                
Residential Mortgage Credit Exposure By Payment Activity:
 
Residential Mortgage
          
Total
 
Performing
 
$
204,276
          
$
204,276
 
Nonperforming
  
3,013
           
3,013
 
Total
 
$
207,289
          
$
207,289
 
 

Credit Quality Indicators
As of December 31, 2015
(In thousands)
 
ORIGINATED
               
Commercial Credit Exposure By Internally Assigned Grade:
 
Commercial
  
Commercial Real Estate
  
Agricultural
  
Agricultural Real Estate
  
Total
 
Pass
 
$
604,405
  
$
1,144,832
  
$
33,565
  
$
27,320
  
$
1,810,122
 
Special Mention
  
9,726
   
21,587
   
311
   
429
   
32,053
 
Substandard
  
30,187
   
28,478
   
740
   
1,469
   
60,874
 
Doubtful
  
-
   
-
   
8
   
-
   
8
 
Total
 
$
644,318
  
$
1,194,897
  
$
34,624
  
$
29,218
  
$
1,903,057
 
 
                    
Business Banking Credit Exposure By Internally Assigned Grade:
 
Business Banking
              
Total
 
Non-classified
 
$
386,397
              
$
386,397
 
Classified
  
14,524
               
14,524
 
Total
 
$
400,921
              
$
400,921
 
Total
                    
Consumer Credit Exposure By Payment Activity:
 
Indirect
  
Home Equity
  
Direct
      
Total
 
Performing
 
$
1,473,193
  
$
459,540
  
$
59,177
      
$
1,991,910
 
Nonperforming
  
4,057
   
5,175
   
77
       
9,309
 
Total
 
$
1,477,250
  
$
464,715
  
$
59,254
      
$
2,001,219
 
 
                    
Residential Mortgage Credit Exposure By Payment Activity:
 
Residential Mortgage
              
Total
 
Performing
 
$
958,013
              
$
958,013
 
Nonperforming
  
8,409
               
8,409
 
Total
 
$
966,422
              
$
966,422
 
 

Credit Quality Indicators
As of December 31, 2015
(In thousands)
 
 ACQUIRED
            
Commercial Credit Exposure By Internally Assigned Grade:
 
Commercial
  
Commercial Real Estate
     
Total
 
Pass
 
$
67,241
  
$
154,871
     
$
222,112
 
Special Mention
  
802
   
2,174
      
2,976
 
Substandard
  
948
   
9,898
      
10,846
 
Total
 
$
68,991
  
$
166,943
     
$
235,934
 
 
               
Business Banking Credit Exposure By Internally Assigned Grade:
 
Business Banking
         
Total
 
Non-classified
 
$
46,032
         
$
46,032
 
Classified
  
3,763
          
3,763
 
Total
 
$
49,795
         
$
49,795
 
 
               
Consumer Credit Exposure By Payment Activity:
 
Indirect
  
Home Equity
  
Direct
  
Total
 
Performing
 
$
27,670
  
$
63,270
  
$
3,882
  
$
94,822
 
Nonperforming
  
105
   
457
   
43
   
605
 
Total
 
$
27,775
  
$
63,727
  
$
3,925
  
$
95,427
 
 
                
Residential Mortgage Credit Exposure By Payment Activity:
 
Residential Mortgage
          
Total
 
Performing
 
$
227,448
          
$
227,448
 
Nonperforming
  
2,910
           
2,910
 
Total
 
$
230,358
          
$
230,358
 
Troubled Debt Restructurings on Financing Receivables
The following tables illustrate the recorded investment and number of modifications for modified loans, including the recorded investment in the loans prior to a modification and the recorded investment in the loans after restructuring for the three and nine months ended September 30, 2016 and 2015 (dollars in thousands):
 
  
Three months ended September 30, 2016
 
  
Number of contracts
  
Pre-Modification Outstanding Recorded Investment
  
Post-Modification Outstanding Recorded Investment
 
Consumer
         
Home Equity
  
10
  
$
580
  
$
556
 
Total Consumer
  
10
   
580
   
556
 
Residential Real Estate
  
4
   
230
   
126
 
Total Troubled Debt Restructurings
  
14
  
$
810
  
$
682
 
 
 
 
Three months ended September 30, 2015
 
  
 
Number of contracts
  
Pre-Modification Outstanding Recorded Investment
  
Post-Modification Outstanding Recorded Investment
 
Consumer
         
Home Equity
  
12
  
$
863
  
$
802
 
Total Consumer
  
12
   
863
   
802
 
Residential Real Estate
  
16
   
1,293
   
1,191
 
Total Troubled Debt Restructurings
  
28
  
$
2,156
  
$
1,993
 
 
 
  
Nine months ended September 30, 2016
 
  
 
Number of contracts
  
Pre-Modification Outstanding Recorded Investment
  
Post-Modification Outstanding Recorded Investment
 
Consumer
         
Home Equity
  
24
  
$
1,690
  
$
1,567
 
Total Consumer
  
24
   
1,690
   
1,567
 
Residential Real Estate
  
10
   
914
   
692
 
Total Troubled Debt Restructurings
  
34
  
$
2,604
  
$
2,259
 

  
Nine months ended September 30, 2015
 
  
 
Number of contracts
  
Pre-Modification Outstanding Recorded Investment
  
Post-Modification Outstanding Recorded Investment
 
Commercial
         
Commercial
  
1
  
$
1,250
  
$
186
 
Business Banking
  
1
   
220
   
173
 
Total Commercial
  
2
   
1,470
   
359
 
Consumer
            
Home Equity
  
43
   
3,321
   
3,017
 
Total Consumer
  
43
   
3,321
   
3,017
 
Residential Real Estate
  
32
   
3,066
   
2,854
 
Total Troubled Debt Restructurings
  
77
  
$
7,857
  
$
6,230
 
 


The following table illustrates the recorded investment and number of modifications for TDRs within the three and nine months ended September 30, 2016 and 2015 where a concession has been made and subsequently defaulted during the period (dollars in thousands):

  
Three months ended September 30, 2016
  
Three months ended September 30, 2015
 
(Dollars in thousands)
 
Number of contracts
  
Recorded Investment
  
Number of contracts
  
Recorded Investment
 
Consumer
            
Home Equity
  
2
  
$
121
   
-
  
$
-
 
 
                
Residential Real Estate
  
1
   
121
   
2
   
174
 
 
                
Total Troubled Debt Restructurings
  
3
  
$
242
   
2
  
$
174
 

  
Nine months ended September 30, 2016
  
Nine months ended September 30, 2015
 
  
Number of contracts
  
Recorded Investment
  
Number of contracts
  
Recorded Investment
 
Consumer
            
Home Equity
  
2
  
$
121
   
4
  
$
343
 
 
                
Residential Real Estate
  
2
   
296
   
2
   
174
 
 
                
Total Troubled Debt Restructurings
  
4
  
$
417
   
6
  
$
517