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