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Loan and Lease Receivables | 9 Months Ended
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Sep. 30, 2021
Receivables [Abstract] |
Loan and Lease Receivables | Note 4—Loan and Lease Receivables Outstanding loan and lease receivables as of the dates shown were categorized as follows:
|  | September 30, |  |  | December 31, |
|  | 2021 |  |  | 2020 |
Commercial real estate |  | $ | 1,615,875 |  |  | $ | 1,416,731 |
Residential real estate |  |  | 507,226 |  |  |  | 569,387 |
Construction, land development, and other land |  |  | 340,428 |  |  |  | 231,602 |
Commercial and industrial |  |  | 1,535,412 |  |  |  | 1,372,452 |
Paycheck Protection Program ("PPP") |  |  | 275,619 |  |  |  | 527,044 |
Installment and other |  |  | 1,396 |  |  |  | 1,942 |
Lease financing receivables |  |  | 334,484 |  |  |  | 223,295 |
Total loans and leases |  |  | 4,610,440 |  |  |  | 4,342,453 |
Net unamortized deferred fees and costs |  |  | (5,484 | ) |  |  | (5,764 | )
Initial direct costs |  |  | 4,272 |  |  |  | 3,846 |
Allowance for loan and lease losses |  |  | (60,598 | ) |  |  | (66,347 | )
Net loans and leases |  | $ | 4,548,630 |  |  | $ | 4,274,188 |
|  | September 30, |  |  | December 31, |
|  | 2021 |  |  | 2020 |
Lease financing receivables |  |  |  |  |  |
Net minimum lease payments |  | $ | 337,512 |  |  | $ | 234,472 |
Unguaranteed residual values |  |  | 22,338 |  |  |  | 8,690 |
Unearned income |  |  | (25,366 | ) |  |  | (19,867 | )
Total lease financing receivables |  |  | 334,484 |  |  |  | 223,295 |
Initial direct costs |  |  | 4,272 |  |  |  | 3,846 |
Lease financial receivables before allowance for lease losses |  | $ | 338,756 |  |  | $ | 227,141 |
Total loans and leases consist of originated loans and leases, acquired impaired loans and acquired non-impaired loans and leases. At September 30, 2021 and December 31, 2020, total loans and leases included the guaranteed amount of U.S. government guaranteed loans of $396.6 million and $635.0 million, respectively. At September 30, 2021 and December 31, 2020, the discount on the unguaranteed portion of U.S. government guaranteed loans was $27.9 million and $28.3 million, respectively, which are included in total loans and leases. At September 30, 2021 and December 31, 2020, installment and other loans included overdraft deposits of $477,000 and $496,000, respectively, which were reclassified as loans. At September 30, 2021 and December 31, 2020, loans and leases and loans held for sale pledged as security for borrowings were $2.0 billion and $2.3 billion, respectively. The minimum annual lease payments for lease financing receivables as of September 30, 2021 are summarized as follows:
|  | Minimum Lease Payments |
2021 |  | $ | 27,875 |
2022 |  |  | 110,733 |
2023 |  |  | 85,005 |
2024 |  |  | 59,682 |
2025 |  |  | 39,328 |
Thereafter |  |  | 14,889 |
Total |  | $ | 337,512 |
Originated loans and leases represent originations excluding loans initially acquired in a business combination. However, once an acquired non-impaired loan reaches its maturity date, and is re-underwritten and renewed, it is internally classified as an originated loan. Acquired impaired loans are loans acquired from a business combination with evidence of credit quality deterioration and are accounted for under ASC Topic 310-30. Acquired non-impaired loans and leases represent loans and leases acquired from a business combination without more than insignificant evidence of credit quality deterioration and are accounted for under ASC Topic 310-20. Acquired leases and revolving loans having evidence of credit quality deterioration do not qualify to be accounted for as acquired impaired loans and are accounted for under ASC Topic 310-20. The following tables summarize the balances for each respective loan and lease category as of September 30, 2021 and December 31, 2020:
September 30, 2021 |  | Originated |  |  | Acquired Impaired |  |  | Acquired Non-Impaired |  |  | Total |
Commercial real estate |  | $ | 1,298,454 |  |  | $ | 84,821 |  |  | $ | 235,103 |  |  | $ | 1,618,378 |
Residential real estate |  |  | 387,578 |  |  |  | 61,893 |  |  |  | 58,283 |  |  |  | 507,754 |
Construction, land development, and other land |  |  | 336,460 |  |  |  | 1,746 |  |  |  | 206 |  |  |  | 338,412 |
Commercial and industrial |  |  | 1,480,076 |  |  |  | 6,651 |  |  |  | 49,678 |  |  |  | 1,536,405 |
Paycheck Protection Program |  |  | 268,081 |  |  |  | — |  |  |  | — |  |  |  | 268,081 |
Installment and other |  |  | 998 |  |  |  | 169 |  |  |  | 275 |  |  |  | 1,442 |
Lease financing receivables |  |  | 331,149 |  |  |  | — |  |  |  | 7,607 |  |  |  | 338,756 |
Total loans and leases |  | $ | 4,102,796 |  |  | $ | 155,280 |  |  | $ | 351,152 |  |  | $ | 4,609,228 |
December 31, 2020 |  | Originated |  |  | Acquired Impaired |  |  | Acquired Non-Impaired |  |  | Total |
Commercial real estate |  | $ | 1,017,587 |  |  | $ | 108,484 |  |  | $ | 295,599 |  |  | $ | 1,421,670 |
Residential real estate |  |  | 414,220 |  |  |  | 78,840 |  |  |  | 79,211 |  |  |  | 572,271 |
Construction, land development, and other land |  |  | 226,408 |  |  |  | 4,113 |  |  |  | 212 |  |  |  | 230,733 |
Commercial and industrial |  |  | 1,276,527 |  |  |  | 10,178 |  |  |  | 82,195 |  |  |  | 1,368,900 |
Paycheck Protection Program |  |  | 517,815 |  |  |  | — |  |  |  | — |  |  |  | 517,815 |
Installment and other |  |  | 1,267 |  |  |  | 202 |  |  |  | 536 |  |  |  | 2,005 |
Lease financing receivables |  |  | 214,636 |  |  |  | — |  |  |  | 12,505 |  |  |  | 227,141 |
Total loans and leases |  | $ | 3,668,460 |  |  | $ | 201,817 |  |  | $ | 470,258 |  |  | $ | 4,340,535 |
Acquired impaired loans—The unpaid principal balance and carrying amount of all acquired impaired loans are summarized below. The balances do not include an allowance for loan and lease losses of $4.3 million and $6.5 million, at September 30, 2021 and December 31, 2020, respectively.
|  | September 30, 2021 |  |  | December 31, 2020 |
|  | Unpaid Principal Balance |  |  | Carrying Value |  |  | Unpaid Principal Balance |  |  | Carrying Value |
Commercial real estate |  | $ | 126,738 |  |  | $ | 84,821 |  |  | $ | 154,233 |  |  | $ | 108,484 |
Residential real estate |  |  | 108,560 |  |  |  | 61,893 |  |  |  | 126,086 |  |  |  | 78,840 |
Construction, land development, and other land |  |  | 9,301 |  |  |  | 1,746 |  |  |  | 12,677 |  |  |  | 4,113 |
Commercial and industrial |  |  | 12,115 |  |  |  | 6,651 |  |  |  | 15,925 |  |  |  | 10,178 |
Installment and other |  |  | 866 |  |  |  | 169 |  |  |  | 917 |  |  |  | 202 |
Total acquired impaired loans |  | $ | 257,580 |  |  | $ | 155,280 |  |  | $ | 309,838 |  |  | $ | 201,817 |
The following table summarizes the changes in accretable yield for acquired impaired loans for the three and nine months ended September 30, 2021 and 2020:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Beginning balance |  | $ | 24,474 |  |  | $ | 31,868 |  |  | $ | 27,696 |  |  | $ | 40,009 |
Accretion to interest income |  |  | (3,080 | ) |  |  | (5,763 | ) |  |  | (9,896 | ) |  |  | (15,420 | )
Reclassification from nonaccretable difference, net |  |  | 1,217 |  |  |  | 5,727 |  |  |  | 4,811 |  |  |  | 7,243 |
Ending balance |  | $ | 22,611 |  |  | $ | 31,832 |  |  | $ | 22,611 |  |  | $ | 31,832 |
Acquired non-impaired loans and leases— The unpaid principal balance and carrying value for acquired non-impaired loans and leases at September 30, 2021 and December 31, 2020 were as follows:
|  | September 30, 2021 |  |  | December 31, 2020 |
|  | Unpaid Principal Balance |  |  | Carrying Value |  |  | Unpaid Principal Balance |  |  | Carrying Value |
Commercial real estate |  | $ | 240,271 |  |  | $ | 235,103 |  |  | $ | 302,091 |  |  | $ | 295,599 |
Residential real estate |  |  | 58,858 |  |  |  | 58,283 |  |  |  | 80,104 |  |  |  | 79,211 |
Construction, land development, and other land |  |  | 271 |  |  |  | 206 |  |  |  | 278 |  |  |  | 212 |
Commercial and industrial |  |  | 51,468 |  |  |  | 49,678 |  |  |  | 84,608 |  |  |  | 82,195 |
Installment and other |  |  | 286 |  |  |  | 275 |  |  |  | 553 |  |  |  | 536 |
Lease financing receivables |  |  | 7,638 |  |  |  | 7,607 |  |  |  | 13,978 |  |  |  | 12,505 |
Total acquired non-impaired loans and leases |  | $ | 358,792 |  |  | $ | 351,152 |  |  | $ | 481,612 |  |  | $ | 470,258 |

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 + Details
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- References No definition available. + Details
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