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Note 5. Loans and Allowance for Credit Losses (Tables)

9 Months Ended

Sep. 30, 2019

Receivables [Abstract]

Loans, net of unamortized net deferred fees, at September 30, 2019 and December 31, 2018 are summarized by type as follows:

Loans, net of unamortized net deferred fees, at September 30, 2019 and December 31, 2018 are summarized by type as follows:

		September 30, 2019								December 31, 2018
(dollars in thousands)		Amount				%				Amount				%
Commercial		$	1,466,862				19	%		$	1,553,112				22	%
Income producing - commercial real estate			3,812,284				51	%			3,256,900				46	%
Owner occupied - commercial real estate			956,345				13	%			887,814				13	%
Real estate mortgage - residential			104,563				1	%			106,418				2	%
Construction - commercial and residential			1,053,789				14	%			1,039,815				15	%
Construction - C&I (owner occupied)			81,916				1	%			57,797				1	%
Home equity			81,117				1	%			86,603				1	%
Other consumer			2,285				—				2,988				—
Total loans			7,559,161				100	%			6,991,447				100	%
Less: allowance for credit losses			(73,720	)							(69,944	)
Net loans		$	7,485,441							$	6,921,503

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

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

						Income Producing - Commercial				Owner Occupied - Commercial				Real Estate Mortgage -				Construction - Commercial and				Home				Other
(dollars in thousands)		Commercial				Real Estate				Real Estate				Residential				Residential				Equity				Consumer				Total
Three Months Ended September 30, 2019
Allowance for credit losses:
Balance at beginning of period		$	18,136			$	27,010			$	5,756			$	1,355			$	19,006			$	581			$	242			$	72,086
Loans charged-off			(1,794	)			—				—				—				—				—				—				(1,794	)
Recoveries of loans previously charged-off			210				—				—				—				15				—				17				242
Net loans charged-off			(1,584	)			—				—				—				15				—				17				(1,552	)
Provision for credit losses			1,617				1,517				(158	)			(3	)			251				(6	)			(32	)			3,186
Ending balance		$	18,169			$	28,527			$	5,598			$	1,352			$	19,272			$	575			$	227			$	73,720
Nine Months Ended September 30, 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			(1,799	)			(5,343	)			—				—				—				—				(2	)			(7,144	)
Recoveries of loans previously charged-off			377				302				2				3				52				—				38				774
Net loans (charged-off) recoveries			(1,422	)			(5,041	)			2				3				52				—				36				(6,370	)
Provision for credit losses			3,734				5,534				(646	)			384				1,045				(24	)			119				10,146
Ending balance		$	18,169			$	28,527			$	5,598			$	1,352			$	19,272			$	575			$	227			$	73,720
As of September 30, 2019
Allowance for credit losses:
Individually evaluated for impairment		$	8,196			$	1,200			$	375			$	650			$	—			$	13			$	—			$	10,434
Collectively evaluated for impairment			9,973				27,327				5,223				702				19,272				562				227				63,286
Ending balance		$	18,169			$	28,527			$	5,598			$	1,352			$	19,272			$	575			$	227			$	73,720
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

The Company’s recorded investments in loans as of September 30, 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:

The Company’s recorded investments in loans as of September 30, 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:

						Income Producing -				Owner Occupied -				Real Estate				Construction -
						Commercial				Commercial				Mortgage -				Commercial and				Home				Other
(dollars in thousands)		Commercial				Real Estate				Real Estate				Residential				Residential				Equity				Consumer				Total
September 30, 2019
Recorded investment in loans:
Individually evaluated for impairment		$	28,155			$	39,089			$	6,616			$	5,365			$	9,148			$	750			$	—			$	89,123
Collectively evaluated for impairment			1,438,707				3,773,195				949,729				99,198				1,126,557				80,367				2,285				7,470,038
Ending balance		$	1,466,862			$	3,812,284			$	956,345			$	104,563			$	1,135,705			$	81,117			$	2,285			$	7,559,161
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

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, 2019 and December 31, 2018.

 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, 2019 and December 31, 2018.

						Watch and												Total
(dollars in thousands)		Pass				Special Mention				Substandard				Doubtful				Loans
September 30, 2019
Commercial		$	1,392,189			$	46,518			$	28,155			$	—			$	1,466,862
Income producing - commercial real estate			3,662,436				110,759				39,089				—				3,812,284
Owner occupied - commercial real estate			892,720				57,009				6,616				—				956,345
Real estate mortgage – residential			98,564				634				5,365				—				104,563
Construction - commercial and residential			1,126,557				—				9,148				—				1,135,705
Home equity			79,681				686				750				—				81,117
Other consumer			2,285				—				—				—				2,285
Total		$	7,254,432			$	215,606			$	89,123			$	—			$	7,559,161
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

The following table presents, by class of loan, information related to nonaccrual loans as of September 30, 2019 and December 31, 2018.

The following table presents, by class of loan, information related to nonaccrual loans as of September 30, 2019 and December 31, 2018.

(dollars in thousands)		September 30, 2019				December 31, 2018
Commercial		$	16,074			$	7,115
Income producing - commercial real estate			5,654				1,766
Owner occupied - commercial real estate			4,124				2,368
Real estate mortgage - residential			5,635				1,510
Construction - commercial and residential			9,148				3,031
Home equity			487				487
Total nonaccrual loans (1)(2)		$	41,122			$	16,277

(1) Excludes troubled debt restructurings (“TDRs”) that were performing under their restructured terms totaling $8.6 million at September 30, 2019 and $24.0 million at December 31, 2018.

(2) Gross interest income of $2.7 million and $707 thousand would have been recorded for the nine months ended September 30, 2019 and 2018, 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 $598 thousand and $193 thousand for the nine months ended September 30, 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.

The following table presents, by class of loan, an aging analysis and the recorded investments in loans past due as of September 30, 2019 and December 31, 2018.

The following table presents, by class of loan, an aging analysis and the recorded investments in loans past due as of September 30, 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
September 30, 2019
Commercial		$	4,639			$	3,509			$	16,074			$	24,222			$	1,442,640			$	1,466,862
Income producing - commercial real estate			21,737				22,190				5,654				66,109				3,746,175				3,812,284
Owner occupied - commercial real estate			3,626				21,768				4,124				29,518				926,827				956,345
Real estate mortgage – residential			634				—				5,635				6,269				98,294				104,563
Construction - commercial and residential			—				1,866				9,148				11,014				1,124,691				1,135,705
Home equity			86				130				487				703				80,414				81,117
Other consumer			13				8				—				21				2,264				2,285
Total		$	30,735			$	49,471			$	41,122			$	137,856			$	7,421,305			$	7,559,161
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

The following table presents, by class of loan, information related to impaired loans for the periods ended September 30, 2019 and December 31, 2018.

The following table presents, by class of loan, information related to impaired loans for the periods ended September 30, 2019 and December 31, 2018.

		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, 2019
Commercial		$	18,243			$	5,641			$	11,331			$	16,972			$	8,196			$	16,967			$	15,638			$	117			$	220
Income producing - commercial real estate			10,041				1,853				8,188				10,041				1,200				9,497				19,479				412				510
Owner occupied - commercial real estate			7,407				6,630				777				7,407				375				6,113				5,693				120				213
Real estate mortgage – residential			5,635				3,179				2,456				5,635				650				5,638				5,640				—				—
Construction - commercial and residential			10,308				9,148				—				9,148				—				9,152				7,111				—				15
Home equity			487				487				—				487				13				487				487				—				—
Other consumer			—				—				—				—				—				—				—				—				—
Total		$	52,121			$	26,938			$	22,752			$	49,690			$	10,434			$	47,854			$	54,048			$	649			$	958
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

The following table presents by class, the recorded investment of loans modified in TDRs held by the Company for the periods ended September 30, 2019 and 2018.

The following table presents by class, the recorded investment of loans modified in TDRs held by the Company for the periods ended September 30, 2019 and 2018.

		For the nine months Ended September 30, 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			7			$	898			$	4,387			$	3,283			$	—			$	8,568
Restructured nonaccruing			3				1,521				—				—				—				1,521
Total			10			$	2,419			$	4,387			$	3,283			$	—			$	10,089
Specific allowance						$	—			$	1,000			$	—			$	—			$	1,000
Restructured and subsequently defaulted						$				$	2,300			$	—			$	—			$	2,300
		For the nine months Ended September 30, 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 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

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- Definition

Tabular disclosure of financing receivable modified as troubled debt restructuring.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953676-111524

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=118936363&loc=SL6953682-111524

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