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Loans and Allowance for Credit Losses (Tables)

9 Months Ended

Sep. 30, 2018

Receivables [Abstract]

Schedule of loans, net of unamortized net deferred fees

Loans, net of unamortized net deferred fees, at September 30, 2018 and December 31, 2017 are summarized by type as follows:

		September 30, 2018								December 31, 2017
(dollars in thousands)		Amount				%				Amount				%
Commercial		$	1,493,577				22	%		$	1,375,939				21	%
Income producing - commercial real estate			3,189,910				46	%			3,047,094				48	%
Owner occupied - commercial real estate			863,162				13	%			755,444				12	%
Real estate mortgage - residential			104,864				2	%			104,357				2	%
Construction - commercial and residential			1,047,591				15	%			973,141				15	%
Construction - C&I (owner occupied)			56,572				1	%			58,691				1	%
Home equity			86,525				1	%			93,264				1	%
Other consumer			2,471				—				3,598				—
Total loans			6,844,672				100	%			6,411,528				100	%
Less: allowance for credit losses			(68,189	)							(64,758	)
Net loans		$	6,776,483							$	6,346,770

Schedule of detail activity in the allowance for credit losses by portfolio segment

The following tables detail activity in the allowance for credit losses by portfolio segment for the three and nine months ended September 30, 2018 and 2017.

(dollars in thousands)		Commercial				Income Producing - Commercial Real Estate				Owner Occupied - Commercial Real Estate				Real Estate Mortgage Residential				Construction - Commercial and Residential				Home Equity				Other Consumer				Total
Three Months Ended September 30, 2018
Allowance for credit losses:
Balance at beginning of period		$	12,206			$	27,988			$	6,003			$	757			$	18,651			$	673			$	331			$	66,609
Loans charged-off			(1,174	)			—				—				—				(643	)			—				(15	)			(1,832	)
Recoveries of loans previously charged-off			60				—				—				1				899				6				5				971
Net loans (charged-off) recoveries			(1,114	)			—				—				1				256				6				(10	)			(861	)
Provision for credit losses			4,557				(601	)			(72	)			(9	)			(1,368	)			(48	)			(18	)			2,441
Ending balance		$	15,649			$	27,387			$	5,931			$	749			$	17,539			$	631			$	303			$	68,189
Nine Months Ended September 30, 2018
Allowance for credit losses:
Balance at beginning of period		$	13,102			$	25,376			$	5,934			$	944			$	18,492			$	770			$	140			$	64,758
Loans charged-off			(2,435	)			(121	)			(132	)			—				(1,160	)			—				(15	)			(3,863	)
Recoveries of loans previously charged-off			86				2				2				4				994				133				13				1,234
Net loans (charged-off) recoveries			(2,349	)			(119	)			(130	)			4				(166	)			133				(2	)			(2,629	)
Provision for credit losses			4,896				2,130				127				(199	)			(787	)			(272	)			165				6,060
Ending balance		$	15,649			$	27,387			$	5,931			$	749			$	17,539			$	631			$	303			$	68,189
As of September 30, 2018
Allowance for credit losses:
Individually evaluated for impairment		$	6,271			$	3,043			$	500			$	—			$	—			$	—			$	56			$	9,870
Collectively evaluated for impairment			9,378				24,344				5,431				749				17,539				631				247				58,319
Ending balance		$	15,649			$	27,387			$	5,931			$	749			$	17,539			$	631			$	303			$	68,189
Three Months Ended September 30, 2017
Allowance for credit losses:
Balance at beginning of period		$	14,225			$	23,308			$	4,189			$	1,081			$	16,727			$	1,216			$	301			$	61,047
Loans charged-off			(522	)			—				—				—				(39	)			—				(32	)			(593	)
Recoveries of loans previously charged-off			407				30				—				2				146				1				6				592
Net loans (charged-off) recoveries			(115	)			30				—				2				107				1				(26	)			(1	)
Provision for credit losses			(2,266	)			(963	)			1,273				(126	)			4,052				(120	)			71				1,921
Ending balance		$	11,844			$	22,375			$	5,462			$	957			$	20,886			$	1,097			$	346			$	62,967
Nine Months Ended September 30, 2017
Allowance for credit losses:
Balance at beginning of period		$	14,700			$	21,105			$	4,010			$	1,284			$	16,487			$	1,328			$	160			$	59,074
Loans charged-off			(659	)			(1,470	)			—				—				(39	)			—				(98	)			(2,266	)
Recoveries of loans previously charged-off			675				80				2				5				491				4				18				1,275
Net loans (charged-off) recoveries			16				(1,390	)			2				5				452				4				(80	)			(991	)
Provision for credit losses			(2,872	)			2,660				1,450				(332	)			3,947				(235	)			266				4,884
Ending balance		$	11,844			$	22,375			$	5,462			$	957			$	20,886			$	1,097			$	346			$	62,967
As of September 30, 2017
Allowance for credit losses:
Individually evaluated for impairment		$	3,246			$	1,378			$	1,005			$	—			$	2,900			$	90			$	81			$	8,700
Collectively evaluated for impairment			8,598				20,997				4,457				957				17,986				1,007				265				54,267
Ending balance		$	11,844			$	22,375			$	5,462			$	957			$	20,886			$	1,097			$	346			$	62,967

Schedule of recorded investments in loans related to each balance in the allowance for loan losses by portfolio segment

The Company’s recorded investments in loans as of September 30, 2018 and December 31, 2017 related to each balance in the allowance for loan losses by portfolio segment and disaggregated on the basis of the Company’s impairment methodology was as follows:

(dollars in thousands)		Commercial				Income Producing - Commercial Real Estate				Owner Occupied - Commercial Real Estate				Real Estate Mortgage Residential				Construction - Commercial and Residential				Home Equity				Other Consumer				Total
September 30, 2018
Recorded investment in loans:
Individually evaluated for impairment		$	27,370			$	9,404			$	5,312			$	1,236			$	3,030			$	487			$	92			$	46,931
Collectively evaluated for impairment			1,466,207				3,180,506				857,850				103,628				1,101,133				86,038				2,379				6,797,741
Ending balance		$	1,493,577			$	3,189,910			$	863,162			$	104,864			$	1,104,163			$	86,525			$	2,471			$	6,844,672
December 31, 2017
Recorded investment in loans:
Individually evaluated for impairment		$	8,726			$	10,192			$	5,501			$	478			$	4,709			$	494			$	91			$	30,191
Collectively evaluated for impairment			1,367,213				3,036,902				749,943				103,879				1,027,123				92,770				3,507				6,381,337
Ending balance		$	1,375,939			$	3,047,094			$	755,444			$	104,357			$	1,031,832			$	93,264			$	3,598			$	6,411,528

Schedule of loans by class and credit quality indicators

The following table presents by class and by credit quality indicator, the recorded investment in the Company's loans and leases as of September 30, 2018 and December 31, 2017.

(dollars in thousands)		Pass				Watch and  Special Mention				Substandard				Doubtful				Total  Loans
September 30, 2018
Commercial		$	1,444,780			$	21,427			$	27,370			$	—			$	1,493,577
Income producing - commercial real estate			3,156,777				23,729				9,404				—				3,189,910
Owner occupied - commercial real estate			821,647				36,203				5,312				—				863,162
Real estate mortgage – residential			102,979				649				1,236				—				104,864
Construction - commercial and residential			1,101,133				—				3,030				—				1,104,163
Home equity			85,352				686				487				—				86,525
Other consumer			2,379				—				92				—				2,471
Total		$	6,715,047			$	82,694			$	46,931			$	—			$	6,844,672
December 31, 2017
Commercial		$	1,333,050			$	34,163			$	8,726			$	—			$	1,375,939
Income producing - commercial real estate			3,033,046				3,856				10,192				—				3,047,094
Owner occupied - commercial real estate			696,754				53,189				5,501				—				755,444
Real estate mortgage – residential			103,220				659				478				—				104,357
Construction - commercial and residential			1,027,123				—				4,709				—				1,031,832
Home equity			92,084				686				494				—				93,264
Other consumer			3,505				2				91				—				3,598
Total		$	6,288,782			$	92,555			$	30,191			$	—			$	6,411,528

Schedule of information related to nonaccrual loans by class

The following table presents, by class of loan, information related to nonaccrual loans as of September 30, 2018 and December 31, 2017.

(dollars in thousands)		September 30, 2018				December 31, 2017
Commercial		$	7,529			$	3,493
Income producing - commercial real estate			48				832
Owner occupied - commercial real estate			2,370				5,501
Real estate mortgage - residential			1,522				775
Construction - commercial and residential			3,030				2,052
Home equity			487				494
Other consumer			91				91
Total nonaccrual loans (1)(2)		$	15,077			$	13,238

(1) Excludes troubled debt restructurings (“TDRs”) that were performing under their restructured terms totaling $17.5 million at September 30, 2018 and $12.3 million at December 31, 2017.

(2) Gross interest income of $707 thousand and $802 thousand would have been recorded for the nine months ended September 30, 2018 and 2017, respectively, if nonaccrual loans shown above had been current and in accordance with their original terms, while the interest actually recorded on such loans was $193 thousand and $56 thousand for the nine months ended September 30, 2018 and 2017, respectively. See Note 1 to the Consolidated Financial Statements for a description of the Company’s policy for placing loans on nonaccrual status.

Schedule by class of loan, an aging analysis and the recorded investments in loans past due

The following table presents, by class of loan, an aging analysis and the recorded investments in loans past due as of September 30, 2018 and December 31, 2017.

		Loans				Loans				Loans												Total Recorded
		30-59 Days				60-89 Days				90 Days or				Total Past				Current				Investment in
(dollars in thousands)		Past Due				Past Due				More Past Due				Due Loans				Loans				Loans
September 30, 2018
Commercial		$	4,297			$	1,247			$	7,529			$	13,073			$	1,480,504			$	1,493,577
Income producing - commercial real estate			763				398				48				1,209				3,188,701				3,189,910
Owner occupied - commercial real estate			4,500				4,806				2,370				11,676				851,486				863,162
Real estate mortgage – residential			—				—				1,522				1,522				103,342				104,864
Construction - commercial and residential			21,947				1,849				3,030				26,826				1,077,337				1,104,163
Home equity			326				—				487				813				85,712				86,525
Other consumer			4				—				91				95				2,376				2,471
Total		$	31,837			$	8,300			$	15,077			$	55,214			$	6,789,458			$	6,844,672
December 31, 2017
Commercial		$	2,705			$	748			$	3,493			$	6,946			$	1,368,993			$	1,375,939
Income producing - commercial real estate			4,398				6,930				832				12,160				3,034,934				3,047,094
Owner occupied - commercial real estate			522				3,906				5,501				9,929				745,515				755,444
Real estate mortgage – residential			6,993				1,244				775				9,012				95,345				104,357
Construction - commercial and residential			—				5,268				2,052				7,320				1,024,512				1,031,832
Home equity			307				—				494				801				92,463				93,264
Other consumer			45				6				91				142				3,456				3,598
Total		$	14,970			$	18,102			$	13,238			$	46,310			$	6,365,218			$	6,411,528

Schedule of impaired loans, by class of loan

The following table presents, by class of loan, information related to impaired loans for the periods ended September 30, 2018 and December 31, 2017.

		Unpaid				Recorded				Recorded
		Contractual				Investment				Investment				Total								Average Recorded Investment								Interest Income Recognized
		Principal				With No				With				Recorded				Related				Quarter				Year				Quarter				Year
(dollars in thousands)		Balance				Allowance				Allowance				Investment				Allowance				To Date				To Date				To Date				To Date
September 30, 2018
Commercial		$	12,943			$	—			$	12,471			$	12,471			$	6,271			$	10,234			$	8,431			$	277			$	316
Income producing - commercial real estate			9,260				—				9,260				9,260				3,043				9,292				9,277				120				361
Owner occupied - commercial real estate			5,761				449				5,312				5,761				500				5,940				6,104				125				149
Real estate mortgage – residential			1,522				1,522				—				1,522				—				1,749				1,747				—				2
Construction - commercial and residential			3,030				3,030				—				3,030				—				1,515				1,694				68				68
Home equity			487				487				—				487				—				491				492				—				—
Other consumer			92				—				92				92				56				92				91				—				—
Total		$	33,095			$	5,488			$	27,135			$	32,623			$	9,870			$	29,313			$	27,836			$	590			$	896
December 31, 2017
Commercial		$	5,644			$	1,777			$	3,748			$	5,525			$	3,259			$	5,764			$	5,765			$	48			$	145
Income producing - commercial real estate			10,044				781				9,263				10,044				2,380				10,068				10,127				120				493
Owner occupied - commercial real estate			6,596				1,095				5,501				6,596				1,382				6,743				5,210				27				73
Real estate mortgage – residential			775				775				—				775				—				538				423				17				17
Construction - commercial and residential			2,052				1,534				518				2,052				500				3,491				3,731				(14	)			—
Home equity			494				494				—				494				—				544				346				—				2
Other consumer			91				—				91				91				80				92				93				—				—
Total		$	25,696			$	6,456			$	19,121			$	25,577			$	7,601			$	27,240			$	25,695			$	198			$	730

Schedule of loans modified in troubled debt restructurings

The following table presents by class, the recorded investment of loans modified in TDRs held by the Company for the periods ended September 30, 2018 and December 31, 2017.

		For the Nine Months Ended September 30, 2018
										Income Producing -				Owner Occupied -				Construction -
(dollars in thousands)		Number of Contracts				Commercial				Commercial Real Estate				Commercial Real Estate				Commercial Real Estate				Total
Troubled debt restructurings
Restructured accruing			10			$	4,942			$	9,212			$	3,391			$	—			$	17,545
Restructured nonaccruing			4				723				—				—				—				723
Total			14			$	5,665			$	9,212			$	3,391			$	—			$	18,268
Specific allowance						$	2,000			$	3,500			$	—			$	—			$	5,500
Restructured and subsequently defaulted						$	—			$	937			$	—			$	—			$	937

		For the Year Ended December 31, 2017
										Income Producing -				Owner Occupied -				Construction -
(dollars in thousands)		Number of Contracts				Commercial				Commercial Real Estate				Commercial Real Estate				Commercial Real Estate				Total
Troubled debt restructings
Restructured accruing			9			$	2,032			$	9,212			$	1,095			$	—			$	12,339
Restructured nonaccruing			5				867				121				—				—				988
Total			14			$	2,899			$	9,333			$	1,095			$	—			$	13,327
Specific allowance						$	595			$	2,350			$	—			$	—			$	2,945
Restructured and subsequently defaulted						$	237			$	—			$	—			$	—			$	237

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Schedule of recorded investments in loans a related to each balance in the allowance for loan losses by portfolio segment and disaggregated on the basis of the Company's impairment methodology

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