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Loans and Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2019

Receivables [Abstract]

Schedule of loans, net of unamortized net deferred fees

Loans, net of unamortized net deferred fees, at March 31, 2019 and December 31, 2018 are summarized by type as follows:

		March 31, 2019								December 31, 2018
(dollars in thousands)		Amount				%				Amount				%
Commercial		$	1,510,835				21	%		$	1,553,112				22	%
Income producing - commercial real estate			3,370,692				47	%			3,256,900				46	%
Owner occupied - commercial real estate			990,372				14	%			887,814				13	%
Real estate mortgage - residential			101,860				1	%			106,418				2	%
Construction - commercial and residential			1,044,305				15	%			1,039,815				15	%
Construction - C&I (owner occupied)			64,845				1	%			57,797				1	%
Home equity			87,009				1	%			86,603				1	%
Other consumer			3,140				—				2,988				—
Total loans			7,173,058				100	%			6,991,447				100	%
Less: allowance for credit losses			(69,943	)							(69,944	)
Net loans		$	7,103,115							$	6,921,503

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 months ended March 31, 2019 and 2018. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. 

(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 March 31, 2019
Allowance for credit losses:
Balance at beginning of period		$	15,857			$	28,034			$	6,242			$	965			$	18,175			$	599			$	72			$	69,944
Loans charged-off			(4	)			(3,496	)			—				—				—				—				—				(3,500	)
Recoveries of loans previously charged-off			130				—				—				1				—				—				8				139
Net loans charged-off			126				(3,496	)			—				1				—				—				8				(3,361	)
Provision for credit losses			1,212				2,227				(262	)			(285	)			294				6				168				3,360
Ending balance		$	17,195			$	26,765			$	5,980			$	681			$	18,469			$	605			$	248			$	69,943
As of March 31, 2019
Allowance for credit losses:
Individually evaluated for impairment		$	5,892			$	15			$	600			$	—			$	—			$	—			$	—			$	6,507
Collectively evaluated for impairment			11,303				26,750				5,380				681				18,469				605				248				63,436
Ending balance		$	17,195			$	26,765			$	5,980			$	681			$	18,469			$	605			$	248			$	69,943
Three Months ended March 31, 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			(853	)			(121	)			(132	)			—				—				—				—				(1,106	)
Recoveries of loans previously charged-off			3				—				1				2				60				117				3				186
Net loans (charged-off) recoveries			(850	)			(121	)			(131	)			2				60				117				3				(920	)
Provision for credit losses			1,106				1,213				(332	)			(212	)			190				(188	)			192				1,969
Ending balance		$	13,358			$	26,468			$	5,471			$	734			$	18,742			$	699			$	335			$	65,807
As of March 31, 2018
Allowance for credit losses:
Individually evaluated for impairment		$	3,014			$	2,628			$	500			$	—			$	500			$	—			$	80			$	6,722
Collectively evaluated for impairment			10,344				23,840				4,971				734				18,242				699				255				59,085
Ending balance		$	13,358			$	26,468			$	5,471			$	734			$	18,742			$	699			$	335			$	65,807

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 March 31, 2019 and December 31, 2018 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
March 31, 2019
Recorded investment in loans:
Individually evaluated for impairment		$	24,219			$	58,208			$	3,885			$	5,367			$	3,438			$	487			$	—			$	95,604
Collectively evaluated for impairment			1,486,616				3,312,484				986,487				96,493				1,105,712				86,522				3,140				7,077,454
Ending balance		$	1,510,835			$	3,370,692			$	990,372			$	101,860			$	1,109,150			$	87,009			$	3,140			$	7,173,058
December 31, 2018
Recorded investment in loans:
Individually evaluated for impairment		$	8,738			$	61,747			$	5,307			$	1,228			$	7,012			$	487			$	—			$	84,519
Collectively evaluated for impairment			1,544,374				3,195,153				882,507				105,190				1,090,600				86,116				2,988				6,906,928
Ending balance		$	1,553,112			$	3,256,900			$	887,814			$	106,418			$	1,097,612			$	86,603			$	2,988			$	6,991,447

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 March 31, 2019 and December 31, 2018.

						Watch and
(dollars in thousands)		Pass				Special Mention				Substandard				Doubtful				Total Loans
March 31, 2019
Commercial		$	1,448,020			$	38,596			$	24,219			$	—			$	1,510,835
Income producing - commercial real estate			3,293,840				18,644				58,208				—				3,370,692
Owner occupied - commercial real estate			946,074				40,413				3,885				—				990,372
Real estate mortgage - residential			95,851				642				5,367				—				101,860
Construction - commercial and residential			1,105,712				—				3,438				—				1,109,150
Home equity			85,836				686				487				—				87,009
Other consumer			3,140				—				—				—				3,140
Total		$	6,978,473			$	98,981			$	95,604			$	—			$	7,173,058
December 31, 2018
Commercial		$	1,505,477			$	25,584			$	22,051			$	—			$	1,553,112
Income producing - commercial real estate			3,172,479				1,536				82,885				—				3,256,900
Owner occupied - commercial real estate			844,286				38,221				5,307				—				887,814
Real estate mortgage – residential			104,543				647				1,228				—				106,418
Construction - commercial and residential			1,090,600				—				7,012				—				1,097,612
Home equity			85,434				682				487				—				86,603
Other consumer			2,988				—				—				—				2,988
Total		$	6,805,807			$	66,670			$	118,970			$	—			$	6,991,447

Schedule of information related to nonaccrual loans by class

The following table presents, by class of loan, information related to nonaccrual loans as of March 31, 2019 and December 31, 2018.

(dollars in thousands)		March 31, 2019				December 31, 2018
Commercial		$	9,763			$	7,115
Income producing - commercial real estate			19,821				1,766
Owner occupied - commercial real estate			1,516				2,368
Real estate mortgage - residential			5,644				1,510
Construction - commercial and residential			3,030				3,031
Home equity			487				487
Total nonaccrual loans (1)(2)		$	40,261			$	16,277

(1) Excludes troubled debt restructurings (“TDRs”) that were performing under their restructured terms totaling $26.2 million at March 31, 2019 and $24.0 million at December 31, 2018.

(2) Gross interest income of $701 thousand and $205 thousand would have been recorded for the three months ended March 31, 2019 and 2018, respectively, if nonaccrual loans shown above had been current and in accordance with their original terms, while there was no interest recorded on such loans for the three months ended March 31, 2019 and 2018, 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 March 31, 2019 and December 31, 2018.

		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
March 31, 2019
Commercial		$	5,248			$	2,102			$	9,763			$	17,113			$	1,493,722			$	1,510,835
Income producing - commercial real estate			14,734				10,250				19,821				44,805				3,325,887				3,370,692
Owner occupied - commercial real estate			21,670				—				1,516				23,186				967,186				990,372
Real estate mortgage - residential			1,022				—				5,644				6,666				95,194				101,860
Construction - commercial and residential			259				5,268				3,030				8,557				1,100,593				1,109,150
Home equity			400				47				487				934				86,075				87,009
Other consumer			13				—				—				13				3,127				3,140
Total		$	43,346			$	17,667			$	40,261			$	101,274			$	7,071,784			$	7,173,058
December 31, 2018
Commercial		$	4,535			$	2,870			$	7,115			$	14,520			$	1,538,592			$	1,553,112
Income producing - commercial real estate			5,855				27,479				1,766				35,100				3,221,800				3,256,900
Owner occupied - commercial real estate			5,051				2,370				2,368				9,789				878,025				887,814
Real estate mortgage - residential			2,456				1,698				1,510				5,664				100,754				106,418
Construction - commercial and residential			4,392				—				3,031				7,423				1,090,189				1,097,612
Home equity			630				47				487				1,164				85,439				86,603
Other consumer			—				—				—				—				2,988				2,988
Total		$	22,919			$	34,464			$	16,277			$	73,660			$	6,917,787			$	6,991,447

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 March 31, 2019 and December 31, 2018.

		Unpaid				Recorded				Recorded												Average Recorded								Interest Income
		Contractual				Investment				Investment				Total								Investment								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
March 31, 2019
Commercial		$	13,453			$	4,124			$	8,857			$	12,981			$	5,892			$	10,561			$	10,561			$	19			$	19
Income producing - commercial real estate			42,939				39,397				46				39,443				15				30,423				30,423				263				263
Owner occupied - commercial real estate			4,853				3,483				1,370				4,853				600				5,292				5,292				46				46
Real estate mortgage – residential			5,644				5,644				—				5,644				—				3,577				3,577				—				—
Construction - commercial and residential			4,190				3,030				—				3,030				—				3,031				3,031				—				—
Home equity			487				487				—				487				—				487				487				—				—
Other consumer			—				—				—				—				—				—				—				—				—
Total		$	71,566			$	56,165			$	10,273			$	66,438			$	6,507			$	53,371			$	53,371			$	328			$	328
December 31, 2018
Commercial		$	8,613			$	2,057			$	6,084			$	8,141			$	4,803			$	10,306			$	8,359			$	(126	)		$	190
Income producing - commercial real estate			21,402				1,720				19,682				21,402				2,465				15,331				12,309				189				550
Owner occupied - commercial real estate			5,731				4,361				1,370				5,731				600				5,746				6,011				47				196
Real estate mortgage – residential			1,510				1,510				—				1,510				—				1,516				1,688				—				2
Construction - commercial and residential			3,031				3,031				—				3,031				1,050				3,031				2,028				—				68
Home equity			487				487				—				487				—				487				491				—				—
Other consumer			—				—				—				—				—				46				69				—				—
Total		$	40,774			$	13,166			$	27,136			$	40,302			$	8,918			$	36,463			$	30,955			$	110			$	1,006

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 March 31, 2019 and 2018.

		For the Three Months Ended March 31, 2019
		Number of								Income Producing -				Owner Occupied -				Construction -
(dollars in thousands)		Contracts				Commercial				Commercial Real Estate				Commercial Real Estate				Commercial Real Estate				Total
Troubled debt restructurings
Restructured accruing			10			$	3,218			$	19,622			$	3,337			$	—			$	26,177
Restructured nonaccruing			3				538				—				—				—				538
Total			13			$	3,756			$	19,622			$	3,337			$	—			$	26,715
Specific allowance						$	775			$	3,000			$	—			$	—			$	3,775
Restructured and subsequently defaulted						$	—			$	—			$	—			$	—			$	—

		For the Three Months Ended March 31, 2018
		Number of								Income Producing -				Owner Occupied -				Construction -
(dollars in thousands)		Contracts				Commercial				Commercial Real Estate				Commercial Real Estate				Commercial Real Estate				Total
Troubled debt restructings
Restructured accruing			8			$	1,230			$	9,198			$	1,071			$	—			$	11,499
Restructured nonaccruing			5				1,649				—				—				—				1,649
Total			13			$	2,879			$	9,198			$	1,071			$	—			$	13,148
Specific allowance						$	595			$	2,350			$	—			$	—			$	2,945
Restructured and subsequently defaulted						$	—			$	121			$	—			$	—			$	121

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