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

ALLOWANCE FOR CREDIT LOSSES AND RESERVE FOR OFF-BALANCE SHEET CREDIT EXPOSURE (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2021 and September 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 September 30, 2021
Beginning balance			$	356					$	13,414					$	4,693					$	16,911					$	6,309					$	19,534											$	16,564																	$	77,781
(Credit) provision for credit losses on loans			(171)						(494)						(459)						(2,409)						(594)						(405)												1,563																		(2,969)
			185						12,920						4,234						14,502						5,715						19,129												18,127																		74,812
Charge-offs			—						334						—						—						—						—												829																		1,163
Recoveries			—						281						—						53						—						—												604																		938
Net charge-offs (recoveries)			—						53						—						(53)						—						—												225																		225
Ending balance			$	185					$	12,867					$	4,234					$	14,555					$	5,715					$	19,129											$	17,902																	$	74,587
Three Months Ended September 30, 2020
Beginning balance			$	388					$	15,507					$	3,274					$	15,025					$	3,651					$	16,148											$	13,346																	$	67,339
Provision for credit losses on loans			2						2,620						759						3,537						2,517						3,304												1,726																		14,465
			390						18,127						4,033						18,562						6,168						19,452												15,072																		81,804
Charge-offs			—						810						—						11						—						75												1,492																		2,388
Recoveries			—						321						—						13						—						12												780																		1,126
Net charge-offs (recoveries)			—						489						—						(2)						—						63												712																		1,262
Ending balance			$	390					$	17,638					$	4,033					$	18,564					$	6,168					$	19,389											$	14,360																	$	80,542

			Commercial, Financial and Agricultural												Real Estate
(dollars in thousands)			SBA PPP						Other						Construction						Residential Mortgage						Home Equity						Commercial Mortgage												Consumer																		Total
Nine Months Ended September 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]			(119)						(5,152)						(43)						(2,274)						257						(3,107)												3,532																		(6,906)
			185						13,565						4,234						14,210						5,706						19,056												19,407																		76,363
Charge-offs			—						1,344						—						—						—						—												3,450																		4,794
Recoveries			—						646						—						345						9						73												1,945																		3,018
Net charge-offs (recoveries)			—						698						—						(345)						(9)						(73)												1,505																		1,776
Ending balance			$	185					$	12,867					$	4,234					$	14,555					$	5,715					$	19,129											$	17,902																	$	74,587
Nine Months Ended September 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
Provision for credit losses on loans			390						11,511						1,631						4,478						3,545						5,712												7,167																		34,434
			390						19,020						3,902						18,413						6,137						19,449												18,660																		85,971
Charge-offs			—						2,350						—						63						—						75												6,335																		8,823
Recoveries			—						968						131						214						31						15												2,035																		3,394
Net charge-offs (recoveries)			—						1,382						(131)						(151)						(31)						60												4,300																		5,429
Ending balance			$	390					$	17,638					$	4,033					$	18,564					$	6,168					$	19,389											$	14,360																	$	80,542
[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. In the second quarter of 2021, the entire reserve was reversed as loans on active payment forbearance or deferral have declined significantly. The provision for credit losses on loans presented in this table excludes the adjustments to the provision for credit losses on accrued interest receivable.

The following table presents the activity in the reserve for off-balance sheet credit exposures, included in other liabilities, during the three and nine months ended September 30, 2021 and September 30, 2020.

(dollars in thousands)
Three Months Ended September 30, 2021
Beginning balance			$	4,744
Provision for off-balance sheet credit exposures			335
Ending balance			$	5,079
Three Months Ended September 30, 2020
Beginning balance			$	4,383
Provision for off-balance sheet credit exposures			221
Ending balance			$	4,604
Nine Months Ended September 30, 2021
Beginning balance			$	4,884
Provision for off-balance sheet credit exposures			195
Ending balance			$	5,079
Nine Months Ended September 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			2,592
Ending balance			$	4,604

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