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Loan and Lease Financings | 3 Months Ended
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Mar. 31, 2016
Receivables [Abstract] |
Loan and Lease Financings | Loan and Lease Financings The Company evaluates loans and leases for credit quality at least annually but more frequently if certain circumstances occur (such as material new information which becomes available and indicates a potential change in credit risk). The Company uses two methods to assess credit risk: loan or lease credit quality grades and credit risk classifications. The purpose of the loan or lease credit quality grade is to document the degree of risk associated with individual credits as well as inform management of the degree of risk in the portfolio taken as a whole. Credit risk classifications are used to categorize loans by degree of risk and to designate individual or committee approval authorities for higher risk credits at the time of origination. Credit risk classifications include categories for: Acceptable, Marginal, Special Attention, Special Risk, Restricted by Policy, Regulated and Prohibited by Law. All loans and leases, except residential real estate and home equity loans and consumer loans, are assigned credit quality grades on a scale from 1 to 12 with grade 1 representing superior credit quality. The criteria used to assign grades to extensions of credit that exhibit potential problems or well-defined weaknesses are primarily based upon the degree of risk and the likelihood of orderly repayment, and their effect on the Company’s safety and soundness. Loans or leases graded 7 or weaker are considered “special attention” credits and, as such, relationships in excess of $100,000 are reviewed quarterly as part of management’s evaluation of the appropriateness of the reserve for loan and lease losses. Grade 7 credits are defined as “watch” and contain greater than average credit risk and are monitored to limit the exposure to increased risk; grade 8 credits are “special mention” and, following regulatory guidelines, are defined as having potential weaknesses that deserve management’s close attention. Credits that exhibit well-defined weaknesses and a distinct possibility of loss are considered “classified” and are graded 9 through 12 corresponding to the regulatory definitions of “substandard” (grades 9 and 10) and the more severe “doubtful” (grade 11) and “loss” (grade 12). The following table shows the credit quality grades of the recorded investment in loans and leases, segregated by class.
|  | Credit Quality Grades
(Dollars in thousands) |  | 1-6 |  | 7-12 |  | Total
March 31, 2016 |  |  |  |  |  |  |  |  |
Commercial and agricultural |  | $ | 719,127 |  |  | $ | 29,897 |  |  | $ | 749,024 |
Auto and light truck |  | 414,418 |  |  | 14,037 |  |  | 428,455 |
Medium and heavy duty truck |  | 270,829 |  |  | 2,088 |  |  | 272,917 |
Aircraft financing |  | 751,761 |  |  | 32,083 |  |  | 783,844 |
Construction equipment financing |  | 463,858 |  |  | 3,924 |  |  | 467,782 |
Commercial real estate |  | 697,789 |  |  | 18,821 |  |  | 716,610 |
Total |  | $ | 3,317,782 |  |  | $ | 100,850 |  |  | $ | 3,418,632 |
December 31, 2015 |  |  |  |  |  |  |  |  |
Commercial and agricultural |  | $ | 710,030 |  |  | $ | 34,719 |  |  | $ | 744,749 |
Auto and light truck |  | 413,836 |  |  | 11,400 |  |  | 425,236 |
Medium and heavy duty truck |  | 275,367 |  |  | 2,887 |  |  | 278,254 |
Aircraft financing |  | 750,264 |  |  | 27,748 |  |  | 778,012 |
Construction equipment financing |  | 448,683 |  |  | 6,882 |  |  | 455,565 |
Commercial real estate |  | 680,304 |  |  | 19,964 |  |  | 700,268 |
Total |  | $ | 3,278,484 |  |  | $ | 103,600 |  |  | $ | 3,382,084 |
For residential real estate and home equity and consumer loans, credit quality is based on the aging status of the loan and by payment activity. The following table shows the recorded investment in residential real estate and home equity and consumer loans by performing or nonperforming status. Nonperforming loans are those loans which are on nonaccrual status or are 90 days or more past due.
(Dollars in thousands) |  | Performing |  | Nonperforming |  | Total
March 31, 2016 |  |  |  |  |  |  |  |  |
Residential real estate and home equity |  | $ | 463,905 |  |  | $ | 2,545 |  |  | $ | 466,450 |
Consumer |  | 146,138 |  |  | 755 |  |  | 146,893 |
Total |  | $ | 610,043 |  |  | $ | 3,300 |  |  | $ | 613,343 |
December 31, 2015 |  |  |  |  |  |  |  |  |
Residential real estate and home equity |  | $ | 462,236 |  |  | $ | 1,893 |  |  | $ | 464,129 |
Consumer |  | 148,180 |  |  | 299 |  |  | 148,479 |
Total |  | $ | 610,416 |  |  | $ | 2,192 |  |  | $ | 612,608 |
The following table shows the recorded investment of loans and leases, segregated by class, with delinquency aging and nonaccrual status.
(Dollars in thousands) |  | Current |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90 Days or More Past Due and Accruing |  | Total Accruing Loans |  | Nonaccrual |  | Total Financing Receivables
March 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and agricultural |  | $ | 744,858 |  |  | $ | 131 |  |  | $ | 41 |  |  | $ | — |  |  | $ | 745,030 |  |  | $ | 3,994 |  |  | $ | 749,024 |
Auto and light truck |  | 428,216 |  |  | 173 |  |  | 14 |  |  | — |  |  | 428,403 |  |  | 52 |  |  | 428,455 |
Medium and heavy duty truck |  | 272,917 |  |  | — |  |  | — |  |  | — |  |  | 272,917 |  |  | — |  |  | 272,917 |
Aircraft financing |  | 772,547 |  |  | 5,894 |  |  | 1,385 |  |  | — |  |  | 779,826 |  |  | 4,018 |  |  | 783,844 |
Construction equipment financing |  | 466,239 |  |  | 655 |  |  | 352 |  |  | — |  |  | 467,246 |  |  | 536 |  |  | 467,782 |
Commercial real estate |  | 714,408 |  |  | 391 |  |  | — |  |  | — |  |  | 714,799 |  |  | 1,811 |  |  | 716,610 |
Residential real estate and home equity |  | 463,015 |  |  | 758 |  |  | 132 |  |  | 702 |  |  | 464,607 |  |  | 1,843 |  |  | 466,450 |
Consumer |  | 145,623 |  |  | 442 |  |  | 73 |  |  | 27 |  |  | 146,165 |  |  | 728 |  |  | 146,893 |
Total |  | $ | 4,007,823 |  |  | $ | 8,444 |  |  | $ | 1,997 |  |  | $ | 729 |  |  | $ | 4,018,993 |  |  | $ | 12,982 |  |  | $ | 4,031,975 |
December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and agricultural |  | $ | 740,335 |  |  | $ | 52 |  |  | $ | 79 |  |  | $ | — |  |  | $ | 740,466 |  |  | $ | 4,283 |  |  | $ | 744,749 |
Auto and light truck |  | 424,997 |  |  | 170 |  |  | 23 |  |  | — |  |  | 425,190 |  |  | 46 |  |  | 425,236 |
Medium and heavy duty truck |  | 278,254 |  |  | — |  |  | — |  |  | — |  |  | 278,254 |  |  | — |  |  | 278,254 |
Aircraft financing |  | 764,074 |  |  | 9,442 |  |  | 108 |  |  | — |  |  | 773,624 |  |  | 4,388 |  |  | 778,012 |
Construction equipment financing |  | 454,993 |  |  | 33 |  |  | — |  |  | — |  |  | 455,026 |  |  | 539 |  |  | 455,565 |
Commercial real estate |  | 698,514 |  |  | 362 |  |  | — |  |  | — |  |  | 698,876 |  |  | 1,392 |  |  | 700,268 |
Residential real estate and home equity |  | 460,771 |  |  | 1,038 |  |  | 427 |  |  | 71 |  |  | 462,307 |  |  | 1,822 |  |  | 464,129 |
Consumer |  | 147,419 |  |  | 552 |  |  | 209 |  |  | 51 |  |  | 148,231 |  |  | 248 |  |  | 148,479 |
Total |  | $ | 3,969,357 |  |  | $ | 11,649 |  |  | $ | 846 |  |  | $ | 122 |  |  | $ | 3,981,974 |  |  | $ | 12,718 |  |  | $ | 3,994,692 |
The following table shows impaired loans and leases, segregated by class, and the corresponding reserve for impaired loan and lease losses.
(Dollars in thousands) |  | Recorded Investment |  | Unpaid Principal Balance |  | Related Reserve
March 31, 2016 |  |  |  |  |  |  |  |  |
With no related reserve recorded: |  |  |  |  |  |  |  |  |
Commercial and agricultural |  | $ | 941 |  |  | $ | 941 |  |  | $ | — |
Auto and light truck |  | — |  |  | — |  |  | — |
Medium and heavy duty truck |  | — |  |  | — |  |  | — |
Aircraft financing |  | 2,884 |  |  | 2,884 |  |  | — |
Construction equipment financing |  | 536 |  |  | 536 |  |  | — |
Commercial real estate |  | 8,192 |  |  | 8,192 |  |  | — |
Residential real estate and home equity |  | — |  |  | — |  |  | — |
Consumer |  | — |  |  | — |  |  | — |
Total with no related reserve recorded |  | 12,553 |  |  | 12,553 |  |  | — |
With a reserve recorded: |  |  |  |  |  |  |  |  |
Commercial and agricultural |  | 2,708 |  |  | 2,708 |  |  | 485 |
Auto and light truck |  | — |  |  | — |  |  | — |
Medium and heavy duty truck |  | — |  |  | — |  |  | — |
Aircraft financing |  | 1,134 |  |  | 1,134 |  |  | 1,134 |
Construction equipment financing |  | — |  |  | — |  |  | — |
Commercial real estate |  | 327 |  |  | 327 |  |  | — |
Residential real estate and home equity |  | 365 |  |  | 367 |  |  | 147 |
Consumer |  | — |  |  | — |  |  | — |
Total with a reserve recorded |  | 4,534 |  |  | 4,536 |  |  | 1,766 |
Total impaired loans |  | $ | 17,087 |  |  | $ | 17,089 |  |  | $ | 1,766 |
December 31, 2015 |  |  |  |  |  |  |  |  |
With no related reserve recorded: |  |  |  |  |  |  |  |  |
Commercial and agricultural |  | $ | 1,016 |  |  | $ | 1,016 |  |  | $ | — |
Auto and light truck |  | — |  |  | — |  |  | — |
Medium and heavy duty truck |  | — |  |  | — |  |  | — |
Aircraft financing |  | 4,384 |  |  | 4,384 |  |  | — |
Construction equipment financing |  | 539 |  |  | 539 |  |  | — |
Commercial real estate |  | 8,494 |  |  | 8,494 |  |  | — |
Residential real estate and home equity |  | — |  |  | — |  |  | — |
Consumer |  | — |  |  | — |  |  | — |
Total with no related reserve recorded |  | 14,433 |  |  | 14,433 |  |  | — |
With a reserve recorded: |  |  |  |  |  |  |  |  |
Commercial and agricultural |  | 2,884 |  |  | 2,884 |  |  | 649 |
Auto and light truck |  | — |  |  | — |  |  | — |
Medium and heavy duty truck |  | — |  |  | — |  |  | — |
Aircraft financing |  | — |  |  | — |  |  | — |
Construction equipment financing |  | — |  |  | — |  |  | — |
Commercial real estate |  | — |  |  | — |  |  | — |
Residential real estate and home equity |  | 366 |  |  | 368 |  |  | 148 |
Consumer |  | — |  |  | — |  |  | — |
Total with a reserve recorded |  | 3,250 |  |  | 3,252 |  |  | 797 |
Total impaired loans |  | $ | 17,683 |  |  | $ | 17,685 |  |  | $ | 797 |
The following table shows average recorded investment and interest income recognized on impaired loans and leases, segregated by class.
|  | Three Months Ended March 31,
|  | 2016 |  | 2015
(Dollars in thousands) |  | Average Recorded Investment |  | Interest Income |  | Average Recorded Investment |  | Interest Income
Commercial and agricultural |  | $ | 3,709 |  |  | $ | 4 |  |  | $ | 9,808 |  |  | $ | 10 |
Auto and light truck |  | — |  |  | — |  |  | — |  |  | — |
Medium and heavy duty truck |  | — |  |  | — |  |  | — |  |  | — |
Aircraft financing |  | 4,028 |  |  | — |  |  | 9,144 |  |  | 6 |
Construction equipment financing |  | 880 |  |  | — |  |  | 739 |  |  | — |
Commercial real estate |  | 8,402 |  |  | 123 |  |  | 11,904 |  |  | 142 |
Residential real estate and home equity |  | 365 |  |  | 4 |  |  | 373 |  |  | 4 |
Consumer |  | — |  |  | — |  |  | — |  |  | — |
Total |  | $ | 17,384 |  |  | $ | 131 |  |  | $ | 31,968 |  |  | $ | 162 |
There were no loan and lease modifications classified as troubled debt restructurings (TDR) during the three months ended March 31, 2016 and 2015. The classification between nonperforming and performing is determined at the time of modification. Modification programs focus on extending maturity dates or modifying payment patterns with most TDRs experiencing a combination of concessions. Modifications do not result in the contractual forgiveness of principal or interest. There were no TDRs which had payment defaults within the twelve months following modification during the three months ended March 31, 2016 and 2015. Default occurs when a loan or lease is 90 days or more past due under the modified terms or transferred to nonaccrual. The following table shows the recorded investment of loans and leases classified as troubled debt restructurings as of March 31, 2016 and December 31, 2015.
(Dollars in thousands) |  | March 31, 2016 |  | December 31, 2015
Performing TDRs |  | $ | 7,383 |  |  | $ | 7,437 |
Nonperforming TDRs |  | 1,882 |  |  | 1,926 |
Total TDRs |  | $ | 9,265 |  |  | $ | 9,363 |

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- Definition The entire disclosure for financing receivables. Examples of financing receivables include, but are not limited to, loans, trade accounts receivables, notes receivable, credit cards, and receivables relating to a lessor's right(s) to payment(s) from a lease other than an operating lease that is recognized as assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 55 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=32702940&loc=SL6953791-111525 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=49124121&loc=d3e4975-111524 + Details
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