XML 40 R29.htm IDEA: XBRL DOCUMENT
v3.21.2

ALLOWANCE FOR CREDIT LOSSES AND RESERVE FOR OFF-BALANCE SHEET CREDIT EXPOSURE (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2021
ALLOWANCE FOR LOAN AND LEASE LOSSES |
Schedule of activity in the allowance, by class | The following table presents by class, the activity in the ACL for loans under ASC 326 during the three and six months ended June 30, 2021 and June 30, 2020:
| Commercial, Financial and Agricultural |  | Real Estate |  |  |  |  |  |  |  |  |  |
(dollars in thousands) | SBA PPP |  | Other |  | Construction |  | Residential Mortgage |  | Home Equity |  | Commercial Mortgage |  |  |  | Consumer |  |  |  |  |  | Total
Three Months Ended June 30, 2021
Beginning balance | $ | 489 |  |  | $ | 15,464 |  |  | $ | 5,047 |  |  | $ | 15,357 |  |  | $ | 5,251 |  |  | $ | 22,734 |  |  |  |  | $ | 17,211 |  |  |  |  |  |  | $ | 81,553 |
(Credit) provision for credit losses on loans | (133) |  |  | (1,925) |  |  | (354) |  |  | 1,368 |  |  | 1,058 |  |  | (3,265) |  |  |  |  | 288 |  |  |  |  |  |  | (2,963) |
| 356 |  |  | 13,539 |  |  | 4,693 |  |  | 16,725 |  |  | 6,309 |  |  | 19,469 |  |  |  |  | 17,499 |  |  |  |  |  |  | 78,590 |
Charge-offs | — |  |  | 401 |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | 1,523 |  |  |  |  |  |  | 1,924 |
Recoveries | — |  |  | 276 |  |  | — |  |  | 186 |  |  | — |  |  | 65 |  |  |  |  | 588 |  |  |  |  |  |  | 1,115 |
Net charge-offs (recoveries) | — |  |  | 125 |  |  | — |  |  | (186) |  |  | — |  |  | (65) |  |  |  |  | 935 |  |  |  |  |  |  | 809 |
Ending balance | $ | 356 |  |  | $ | 13,414 |  |  | $ | 4,693 |  |  | $ | 16,911 |  |  | $ | 6,309 |  |  | $ | 19,534 |  |  |  |  | $ | 16,564 |  |  |  |  |  |  | $ | 77,781 |
Three Months Ended June 30, 2020
Beginning balance | $ | — |  |  | $ | 8,645 |  |  | $ | 3,057 |  |  | $ | 13,181 |  |  | $ | 2,309 |  |  | $ | 19,518 |  |  |  |  | $ | 12,935 |  |  |  |  |  |  | $ | 59,645 |
(Credit) provision for credit losses on loans | 388 |  |  | 7,660 |  |  | 217 |  |  | 1,876 |  |  | 1,342 |  |  | (3,371) |  |  |  |  | 2,528 |  |  |  |  |  |  | 10,640 |
| 388 |  |  | 16,305 |  |  | 3,274 |  |  | 15,057 |  |  | 3,651 |  |  | 16,147 |  |  |  |  | 15,463 |  |  |  |  |  |  | 70,285 |
Charge-offs | — |  |  | 1,103 |  |  | — |  |  | 52 |  |  | — |  |  | — |  |  |  |  | 2,626 |  |  |  |  |  |  | 3,781 |
Recoveries | — |  |  | 305 |  |  | — |  |  | 20 |  |  | — |  |  | 1 |  |  |  |  | 509 |  |  |  |  |  |  | 835 |
Net charge-offs (recoveries) | — |  |  | 798 |  |  | — |  |  | 32 |  |  | — |  |  | (1) |  |  |  |  | 2,117 |  |  |  |  |  |  | 2,946 |
Ending balance | $ | 388 |  |  | $ | 15,507 |  |  | $ | 3,274 |  |  | $ | 15,025 |  |  | $ | 3,651 |  |  | $ | 16,148 |  |  |  |  | $ | 13,346 |  |  |  |  |  |  | $ | 67,339 |
| Commercial, Financial and Agricultural |  | Real Estate |  |  |  |  |  |  |  |  |  |
(dollars in thousands) | SBA PPP |  | Other |  | Construction |  | Residential Mortgage |  | Home Equity |  | Commercial Mortgage |  |  |  | Consumer |  |  |  |  |  | Total
Six Months Ended June 30, 2021
Beginning balance | $ | 304 |  |  | $ | 18,717 |  |  | $ | 4,277 |  |  | $ | 16,484 |  |  | $ | 5,449 |  |  | $ | 22,163 |  |  |  |  | $ | 15,875 |  |  |  |  |  |  | $ | 83,269 |
(Credit) provision for credit losses on loans [1] | 52 |  |  | (4,658) |  |  | 416 |  |  | 135 |  |  | 851 |  |  | (2,702) |  |  |  |  | 1,969 |  |  |  |  |  |  | (3,937) |
| 356 |  |  | 14,059 |  |  | 4,693 |  |  | 16,619 |  |  | 6,300 |  |  | 19,461 |  |  |  |  | 17,844 |  |  |  |  |  |  | 79,332 |
Charge-offs | — |  |  | 1,010 |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | 2,621 |  |  |  |  |  |  | 3,631 |
Recoveries | — |  |  | 365 |  |  | — |  |  | 292 |  |  | 9 |  |  | 73 |  |  |  |  | 1,341 |  |  |  |  |  |  | 2,080 |
Net charge-offs (recoveries) | — |  |  | 645 |  |  | — |  |  | (292) |  |  | (9) |  |  | (73) |  |  |  |  | 1,280 |  |  |  |  |  |  | 1,551 |
Ending balance | $ | 356 |  |  | $ | 13,414 |  |  | $ | 4,693 |  |  | $ | 16,911 |  |  | $ | 6,309 |  |  | $ | 19,534 |  |  |  |  | $ | 16,564 |  |  |  |  |  |  | $ | 77,781 |
Six Months Ended June 30, 2020
Beginning balance prior to ASC 326 | $ | — |  |  | $ | 8,136 |  |  | $ | 1,792 |  |  | $ | 13,327 |  |  | $ | 4,206 |  |  | $ | 11,113 |  |  |  |  | $ | 9,397 |  |  |  |  |  |  | $ | 47,971 |
Impact of adoption of ASC 326 | — |  |  | (627) |  |  | 479 |  |  | 608 |  |  | (1,614) |  |  | 2,624 |  |  |  |  | 2,096 |  |  |  |  |  |  | 3,566 |
Balance after adoption of ASC 326 | — |  |  | 7,509 |  |  | 2,271 |  |  | 13,935 |  |  | 2,592 |  |  | 13,737 |  |  |  |  | 11,493 |  |  |  |  |  |  | 51,537 |
(Credit) provision for credit losses on loans | 388 |  |  | 8,891 |  |  | 872 |  |  | 941 |  |  | 1,028 |  |  | 2,408 |  |  |  |  | 5,441 |  |  |  |  |  |  | 19,969 |
| 388 |  |  | 16,400 |  |  | 3,143 |  |  | 14,876 |  |  | 3,620 |  |  | 16,145 |  |  |  |  | 16,934 |  |  |  |  |  |  | 71,506 |
Charge-offs | — |  |  | 1,540 |  |  | — |  |  | 52 |  |  | — |  |  | — |  |  |  |  | 4,843 |  |  |  |  |  |  | 6,435 |
Recoveries | — |  |  | 647 |  |  | 131 |  |  | 201 |  |  | 31 |  |  | 3 |  |  |  |  | 1,255 |  |  |  |  |  |  | 2,268 |
Net charge-offs (recoveries) | — |  |  | 893 |  |  | (131) |  |  | (149) |  |  | (31) |  |  | (3) |  |  |  |  | 3,588 |  |  |  |  |  |  | 4,167 |
Ending balance | $ | 388 |  |  | $ | 15,507 |  |  | $ | 3,274 |  |  | $ | 15,025 |  |  | $ | 3,651 |  |  | $ | 16,148 |  |  |  |  | $ | 13,346 |  |  |  |  |  |  | $ | 67,339 |
[1] The Company recorded a reserve on accrued interest receivable for loans on active payment forbearance or deferral, which were granted to borrowers impacted by the COVID-19 pandemic. This reserve was recorded as a contra-asset against accrued interest receivable with the offset to provision for credit losses. The provision for credit losses presented in this table excludes the provision for credit losses on accrued interest receivable of $0.2 million.
The following table presents the activity in the reserve for off-balance sheet credit exposures, included in other liabilities, during the three and six months ended June 30, 2021 and June 30, 2020.
(dollars in thousands) |
Three Months Ended June 30, 2021 |
Beginning balance | $ | 5,037 |
Provision for off-balance sheet credit exposures | (293) |
Ending balance | $ | 4,744 |
Three Months Ended June 30, 2020 |
Beginning balance prior to ASC 326 | $ | 3,810 |
Impact of adoption of ASC 326 | — |
Balance after adoption of ASC 326 | 3,810 |
Provision for off-balance sheet credit exposures | 573 |
Ending balance | $ | 4,383 |
Six Months Ended June 30, 2021 |
Beginning balance | $ | 4,884 |
Provision for off-balance sheet credit exposures | (140) |
Ending balance | $ | 4,744 |
Six Months Ended June 30, 2020 |
Beginning balance prior to ASC 326 | $ | 1,272 |
Impact of adoption of ASC 326 | 740 |
Balance after adoption of ASC 326 | 2,012 |
Provision for off-balance sheet credit exposures | 2,371 |
Ending balance | $ | 4,383 |

X
- References No definition available. + Details
Name: | cpf_AllowanceForLoanAndLeaseLossesAbstract
Namespace Prefix: | cpf_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allowance for credit loss of financing receivable, classified as current. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=121611835&loc=SL6953423-111524 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919249-210447 + Details
Name: | us-gaap_ScheduleOfCreditLossesForFinancingReceivablesCurrentTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration