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ALLOWANCE FOR LOAN AND LEASE LOSSES
 3 Months Ended
Mar. 31, 2015
ALLOWANCE FOR LOAN AND LEASE LOSSES  
ALLOWANCE FOR LOAN AND LEASE LOSSES

 

5.   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 -

 

 

 

 

 

 

 

 

 

 

 

Agricultural

 

Construction

 

Residential

 

Commercial

 

Consumer

 

Leases

 

Unallocated

 

Total

 

 

 

(Dollars in thousands)

 

Three Months Ended March 31, 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$
8,954

 

$
14,969

 

$
17,927

 

$
20,869

 

$
7,314

 

$
7

 

$
4,000

 

$
74,040

 

Provision (credit) for loan and lease losses

 
147

 
(787

)
(2,344

)
(721

)
965

 
(7

)

—

 
(2,747

)

 

 
9,101

 
14,182

 
15,583

 
20,148

 
8,279

 

—

 
4,000

 
71,293

 

Charge-offs

 
878

 

—

 
14

 

—

 
1,894

 

—

 

—

 
2,786

 

Recoveries

 
568

 
123

 
1,488

 
13

 
734

 

—

 

—

 
2,926

 

Net charge-offs (recoveries)

 
310

 
(123

)
(1,474

)
(13

)
1,160

 

—

 

—

 
(140

)

Ending balance

 

$
8,791

 

$
14,305

 

$
17,057

 

$
20,161

 

$
7,119

 

$

—

 

$
4,000

 

$
71,433

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$
13,196

 

$
2,774

 

$
25,272

 

$
29,947

 

$
6,576

 

$
55

 

$
6,000

 

$
83,820

 

Provision (credit) for loan and lease losses

 
(943

)
11,764

 
(7,517

)
(4,035

)
(548

)
(37

)

—

 
(1,316

)

 

 
12,253

 
14,538

 
17,755

 
25,912

 
6,028

 
18

 
6,000

 
82,504

 

Charge-offs

 
73

 

—

 
37

 

—

 
580

 
8

 

—

 
698

 

Recoveries

 
606

 
402

 
94

 
13

 
239

 
2

 

—

 
1,356

 

Net charge-offs (recoveries)

 
(533

)
(402

)
(57

)
(13

)
341

 
6

 

—

 
(658

)

Ending balance

 

$
12,786

 

$
14,940

 

$
17,812

 

$
25,925

 

$
5,687

 

$
12

 

$
6,000

 

$
83,162

 

 

Loans held for sale and other real estate assets are not included in our assessment of the Allowance.

 

Our Provisions were credits of $2.7 million and $1.3 million in the three months ended March 31, 2015 and 2014, respectively.

 

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 significant increases to our Provision.