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ALLOWANCE FOR LOAN AND LEASE LOSSES | 6 Months Ended
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Jun. 30, 2013
ALLOWANCE FOR LOAN AND LEASE LOSSES |
ALLOWANCE FOR LOAN AND LEASE LOSSES | 6. ALLOWANCE FOR LOAN AND LEASE LOSSES The following table presents by class, the activity in the Allowance for the periods indicated:
|  | Commercial, |  | Real estate |  |  |  |  |  |  |  |  |
|  | Financial & |  |  |  | Mortgage - |  | Mortgage - |  |  |  |  |  |  |  |  |
|  | Aagricultural |  | Construction |  | Residential |  | Commercial |  | Consumer |  | Leases |  | Unallocated |  | Total |
|  | (Dollars in thousands) |
Three Months Ended June 30, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 8,641 |  | $ | 3,946 |  | $ | 29,991 |  | $ | 35,289 |  | $ | 2,864 |  | $ | 75 |  | $ | 6,000 |  | $ | 86,806 |
Provision (credit) for loan and lease losses |  | 2,439 |  | 1,044 |  | (4,241 | ) | (531 | ) | 1,069 |  | (7 | ) | — |  | (227 | )
|  | 11,080 |  | 4,990 |  | 25,750 |  | 34,758 |  | 3,933 |  | 68 |  | 6,000 |  | 86,579 |
Charge-offs |  | 1,597 |  | 277 |  | 380 |  | — |  | 242 |  | — |  | — |  | 2,496 |
Recoveries |  | 170 |  | 1,747 |  | 243 |  | 703 |  | 157 |  | 2 |  | — |  | 3,022 |
Net charge-offs (recoveries) |  | 1,427 |  | (1,470 | ) | 137 |  | (703 | ) | 85 |  | (2 | ) | — |  | (526 | )
Ending balance |  | $ | 9,653 |  | $ | 6,460 |  | $ | 25,613 |  | $ | 35,461 |  | $ | 3,848 |  | $ | 70 |  | $ | 6,000 |  | $ | 87,105 |
Three Months Ended June 30, 2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 5,301 |  | $ | 21,380 |  | $ | 33,445 |  | $ | 45,911 |  | $ | 2,105 |  | $ | 180 |  | $ | 6,000 |  | $ | 114,322 |
Provision (credit) for loan and lease losses |  | 1,523 |  | (6,079 | ) | (3,713 | ) | 1,649 |  | 22 |  | (32 | ) | — |  | (6,630 | )
|  | 6,824 |  | 15,301 |  | 29,732 |  | 47,560 |  | 2,127 |  | 148 |  | 6,000 |  | 107,692 |
Charge-offs |  | 1,394 |  | 3,715 |  | 173 |  | 320 |  | 323 |  | — |  | — |  | 5,925 |
Recoveries |  | 832 |  | 745 |  | 262 |  | 2 |  | 204 |  | 2 |  | — |  | 2,047 |
Net charge-offs (recoveries) |  | 562 |  | 2,970 |  | (89 | ) | 318 |  | 119 |  | (2 | ) | — |  | 3,878 |
Ending balance |  | $ | 6,262 |  | $ | 12,331 |  | $ | 29,821 |  | $ | 47,242 |  | $ | 2,008 |  | $ | 150 |  | $ | 6,000 |  | $ | 103,814 |
Six Months Ended June 30, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 4,987 |  | $ | 4,510 |  | $ | 29,910 |  | $ | 48,500 |  | $ | 2,421 |  | $ | 85 |  | $ | 6,000 |  | $ | 96,413 |
Provision (credit) for loan and lease losses |  | 5,845 |  | 73 |  | (3,977 | ) | (10,322 | ) | 1,611 |  | (18 | ) | — |  | (6,788 | )
|  | 10,832 |  | 4,583 |  | 25,933 |  | 38,178 |  | 4,032 |  | 67 |  | 6,000 |  | 89,625 |
Charge-offs |  | 1,841 |  | 355 |  | 794 |  | 3,674 |  | 557 |  | — |  | — |  | 7,221 |
Recoveries |  | 662 |  | 2,232 |  | 474 |  | 957 |  | 373 |  | 3 |  | — |  | 4,701 |
Net charge-offs (recoveries) |  | 1,179 |  | (1,877 | ) | 320 |  | 2,717 |  | 184 |  | (3 | ) | — |  | 2,520 |
Ending balance |  | $ | 9,653 |  | $ | 6,460 |  | $ | 25,613 |  | $ | 35,461 |  | $ | 3,848 |  | $ | 70 |  | $ | 6,000 |  | $ | 87,105 |
Six Months Ended June 30, 2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 6,110 |  | $ | 28,630 |  | $ | 32,736 |  | $ | 47,729 |  | $ | 2,335 |  | $ | 553 |  | $ | 4,000 |  | $ | 122,093 |
Provision (credit) for loan and lease losses |  | 2,126 |  | (12,128 | ) | (2,921 | ) | (171 | ) | (148 | ) | (378 | ) | 2,000 |  | (11,620 | )
|  | 8,236 |  | 16,502 |  | 29,815 |  | 47,558 |  | 2,187 |  | 175 |  | 6,000 |  | 110,473 |
Charge-offs |  | 3,076 |  | 5,341 |  | 373 |  | 320 |  | 749 |  | 28 |  | — |  | 9,887 |
Recoveries |  | 1,102 |  | 1,170 |  | 379 |  | 4 |  | 570 |  | 3 |  | — |  | 3,228 |
Net charge-offs (recoveries) |  | 1,974 |  | 4,171 |  | (6 | ) | 316 |  | 179 |  | 25 |  | — |  | 6,659 |
Ending balance |  | $ | 6,262 |  | $ | 12,331 |  | $ | 29,821 |  | $ | 47,242 |  | $ | 2,008 |  | $ | 150 |  | $ | 6,000 |  | $ | 103,814 |
In accordance with GAAP, loans held for sale and other real estate assets are not included in our assessment of the Allowance. Our Provision was a credit of $0.2 million and $6.8 million in the second quarter and first half of 2013, respectively, compared to a credit of $6.6 million and $11.6 million in the second quarter and first half of 2012. The decrease in our Allowance is directly attributable to continued improvement in our credit risk profile as evidenced by declines in nonperforming assets and lower levels of net charge-offs. In determining the amount of our Allowance, we rely on an analysis of our loan portfolio, our experience and our evaluation of general economic conditions, as well as regulatory requirements and input. If our assumptions prove to be incorrect, our current Allowance may not be sufficient to cover future loan losses and we may experience increases to our Provision.

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