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Loans | 12 Months Ended
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Dec. 31, 2019
Loans And Leases Receivable Disclosure [Abstract] |
Loans |
(5.) | LOANS
The Company’s loan portfolio consisted of the following at December 31 (in thousands):
|  | Principal Amount Outstanding |  |  | Net Deferred Loan (Fees) Costs |  |  | Loans, Net |
2019 |  |  |  |  |  |  |  |  |  |  |  |
Commercial business |  | $ | 571,222 |  |  | $ | 818 |  |  | $ | 572,040 |
Commercial mortgage |  |  | 1,108,315 |  |  |  | (2,032 | ) |  |  | 1,106,283 |
Residential real estate loans |  |  | 560,717 |  |  |  | 11,633 |  |  |  | 572,350 |
Residential real estate lines |  |  | 101,048 |  |  |  | 3,070 |  |  |  | 104,118 |
Consumer indirect |  |  | 822,179 |  |  |  | 27,873 |  |  |  | 850,052 |
Other consumer |  |  | 15,984 |  |  |  | 160 |  |  |  | 16,144 |
Total |  | $ | 3,179,465 |  |  | $ | 41,522 |  |  |  | 3,220,987 |
Allowance for loan losses |  |  |  |  |  |  |  |  |  |  | (30,482 | )
Total loans, net |  |  |  |  |  |  |  |  |  | $ | 3,190,505 |
2018 |  |  |  |  |  |  |  |  |  |  |  |
Commercial business |  | $ | 557,040 |  |  | $ | 821 |  |  | $ | 557,861 |
Commercial mortgage |  |  | 960,265 |  |  |  | (2,071 | ) |  |  | 958,194 |
Residential real estate loans |  |  | 514,981 |  |  |  | 9,174 |  |  |  | 524,155 |
Residential real estate lines |  |  | 106,712 |  |  |  | 3,006 |  |  |  | 109,718 |
Consumer indirect |  |  | 888,732 |  |  |  | 31,185 |  |  |  | 919,917 |
Other consumer |  |  | 16,590 |  |  |  | 163 |  |  |  | 16,753 |
Total |  | $ | 3,044,320 |  |  | $ | 42,278 |  |  |  | 3,086,598 |
Allowance for loan losses |  |  |  |  |  |  |  |  |  |  | (33,914 | )
Total loans, net |  |  |  |  |  |  |  |  |  | $ | 3,052,684 |
(5.) | LOANS (Continued)
The Company’s significant concentrations of credit risk in the loan portfolio relate to a geographic concentration in the communities that the Company serves. Certain executive officers, directors and their business interests are customers of the Company. Transactions with these parties are based on the same terms as similar transactions with unrelated third parties and do not carry more than normal credit risk. Borrowings by these related parties amounted to $18.6 million and $10.3 million at December 31, 2019 and 2018, respectively. During 2019, new borrowings amounted to $9.8 million (including borrowings of executive officers and directors that were outstanding at the time of their appointment), and repayments and other reductions were $1.6 million. Past Due Loans Aging The Company’s recorded investment, by loan class, in current and nonaccrual loans, as well as an analysis of accruing delinquent loans is set forth as of December 31 (in thousands):
|  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | Greater Than 90 Days |  |  | Total Past Due |  |  | Nonaccrual |  |  | Current |  |  | Total Loans |
2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial business |  | $ | 361 |  |  | $ | - |  |  | $ | - |  |  | $ | 361 |  |  | $ | 1,177 |  |  | $ | 569,684 |  |  | $ | 571,222 |
Commercial mortgage |  |  | 531 |  |  |  | - |  |  |  | - |  |  |  | 531 |  |  |  | 3,146 |  |  |  | 1,104,638 |  |  |  | 1,108,315 |
Residential real estate loans |  |  | 929 |  |  |  | 114 |  |  |  | - |  |  |  | 1,043 |  |  |  | 2,484 |  |  |  | 557,190 |  |  |  | 560,717 |
Residential real estate lines |  |  | 231 |  |  |  | 37 |  |  |  | - |  |  |  | 268 |  |  |  | 102 |  |  |  | 100,678 |  |  |  | 101,048 |
Consumer indirect |  |  | 3,729 |  |  |  | 1,019 |  |  |  | - |  |  |  | 4,748 |  |  |  | 1,725 |  |  |  | 815,706 |  |  |  | 822,179 |
Other consumer |  |  | 116 |  |  |  | 8 |  |  |  | 6 |  |  |  | 130 |  |  |  | - |  |  |  | 15,854 |  |  |  | 15,984 |
Total loans, gross |  | $ | 5,897 |  |  | $ | 1,178 |  |  | $ | 6 |  |  | $ | 7,081 |  |  | $ | 8,634 |  |  | $ | 3,163,750 |  |  | $ | 3,179,465 |
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial business |  | $ | 227 |  |  | $ | 1 |  |  | $ | - |  |  | $ | 228 |  |  | $ | 912 |  |  | $ | 555,900 |  |  | $ | 557,040 |
Commercial mortgage |  |  | 574 |  |  |  | - |  |  |  | - |  |  |  | 574 |  |  |  | 1,586 |  |  |  | 958,105 |  |  |  | 960,265 |
Residential real estate loans |  |  | 1,295 |  |  |  | 242 |  |  |  | - |  |  |  | 1,537 |  |  |  | 2,391 |  |  |  | 511,053 |  |  |  | 514,981 |
Residential real estate lines |  |  | 102 |  |  |  | - |  |  |  | - |  |  |  | 102 |  |  |  | 255 |  |  |  | 106,355 |  |  |  | 106,712 |
Consumer indirect |  |  | 2,424 |  |  |  | 698 |  |  |  | - |  |  |  | 3,122 |  |  |  | 1,989 |  |  |  | 883,621 |  |  |  | 888,732 |
Other consumer |  |  | 139 |  |  |  | 3 |  |  |  | 8 |  |  |  | 150 |  |  |  | - |  |  |  | 16,440 |  |  |  | 16,590 |
Total loans, gross |  | $ | 4,761 |  |  | $ | 944 |  |  | $ | 8 |  |  | $ | 5,713 |  |  | $ | 7,133 |  |  | $ | 3,031,474 |  |  | $ | 3,044,320 |
There were no loans past due greater than 90 days and still accruing interest as of December 31, 2019 and 2018. There were $6 thousand and $8 thousand in consumer overdrafts which were past due greater than 90 days as of December 31, 2019 and 2018, respectively. Consumer overdrafts are overdrawn deposit accounts which have been reclassified as loans but by their terms do not accrue interest. Interest income on nonaccrual loans, if recognized, is recorded using the cash basis method of accounting. There was no interest income recognized on nonaccrual loans during the years ended December 31, 2019, 2018 and 2017. For the years ended December 31, 2019, 2018 and 2017, estimated interest income of $508 thousand, $294 thousand, and $481 thousand, respectively, would have been recorded if all such loans had been accruing interest according to their original contractual terms. Troubled Debt Restructurings A modification of a loan constitutes a troubled debt restructuring (“TDR”) when a borrower is experiencing financial difficulty and the modification constitutes a concession. Commercial loans modified in a TDR may involve temporary interest-only payments, term extensions, reducing the interest rate for the remaining term of the loan, extending the maturity date at an interest rate lower than the current market rate for new debt with similar risk, collateral concessions, forgiveness of principal, forbearance agreements, or substituting or adding a new borrower or guarantor. There were no loans modified as a TDR during the years ended December 31, 2019 and 2018.
(5.) | LOANS (Continued)
There were no loans modified as a TDR during the years ended December 31, 2019 and 2018 that defaulted during the year ended December 31, 2019. For purposes of this disclosure, a loan modified as a TDR is considered to have defaulted when the borrower becomes 90 days past due. Impaired Loans Management has determined that specific commercial loans on nonaccrual status and all loans that have had their terms restructured in a troubled debt restructuring are impaired loans. The following table presents the recorded investment, unpaid principal balance and related allowance of impaired loans as well as average recorded investment and interest income recognized on impaired loans at December 31 (in thousands):
|  | Recorded Investment (1) |  |  | Unpaid Principal Balance (1) |  |  | Related Allowance |  |  | Average Recorded Investment |  |  | Interest Income Recognized |
2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
With no related allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial business |  | $ | 563 |  |  | $ | 775 |  |  | $ | - |  |  | $ | 411 |  |  | $ | - |
Commercial mortgage |  |  | 973 |  |  |  | 1,749 |  |  |  | - |  |  |  | 1,701 |  |  |  | - |
|  |  | 1,536 |  |  |  | 2,524 |  |  |  | - |  |  |  | 2,112 |  |  |  | - |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial business |  |  | 614 |  |  |  | 614 |  |  |  | 214 |  |  |  | 1,207 |  |  |  | - |
Commercial mortgage |  |  | 2,173 |  |  |  | 2,173 |  |  |  | 479 |  |  |  | 1,825 |  |  |  | - |
|  |  | 2,787 |  |  |  | 2,787 |  |  |  | 693 |  |  |  | 3,032 |  |  |  | - |
|  | $ | 4,323 |  |  | $ | 5,311 |  |  | $ | 693 |  |  | $ | 5,144 |  |  | $ | - |
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
With no related allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial business |  | $ | 319 |  |  | $ | 487 |  |  | $ | - |  |  | $ | 1,156 |  |  | $ | - |
Commercial mortgage |  |  | 2,013 |  |  |  | 2,789 |  |  |  | - |  |  |  | 692 |  |  |  | - |
|  |  | 2,332 |  |  |  | 3,276 |  |  |  | - |  |  |  | 1,848 |  |  |  | - |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial business |  |  | 725 |  |  |  | 725 |  |  |  | 205 |  |  |  | 2,458 |  |  |  | - |
Commercial mortgage |  |  | 21 |  |  |  | 21 |  |  |  | 1 |  |  |  | 1,936 |  |  |  | - |
|  |  | 746 |  |  |  | 746 |  |  |  | 206 |  |  |  | 4,394 |  |  |  | - |
|  | $ | 3,078 |  |  | $ | 4,022 |  |  | $ | 206 |  |  | $ | 6,242 |  |  | $ | - |
(1) | Difference between recorded investment and unpaid principal balance represents partial charge-offs.
Credit Quality Indicators The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors such as the fair value of collateral. The Company analyzes commercial business and commercial mortgage loans individually by classifying the loans as to credit risk. Risk ratings are updated any time the situation warrants. The Company uses the following definitions for risk ratings: Special Mention: Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the Company’s credit position at some future date. Substandard: Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected.
(5.) | LOANS (Continued)
Doubtful: Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loans not meeting the criteria above that are analyzed individually as part of the process described above are considered “uncriticized” or pass-rated loans and are included in groups of homogeneous loans with similar risk and loss characteristics. Loans that do not meet the criteria above that are analyzed individually as part of the process described above are considered “uncriticized” or pass-rated loans and are included in groups of homogeneous loans with similar risk and loss characteristics. The following table sets forth the Company’s commercial loan portfolio, categorized by internally assigned asset classification, as of December 31 (in thousands):
|  | Commercial Business |  |  | Commercial Mortgage |
2019 |  |  |  |  |  |  |  |
Uncriticized |  | $ | 544,406 |  |  | $ | 1,098,133 |
Special mention |  |  | 7,933 |  |  |  | 4,098 |
Substandard |  |  | 18,883 |  |  |  | 6,084 |
Doubtful |  |  | - |  |  |  | - |
Total |  | $ | 571,222 |  |  | $ | 1,108,315 |
2018 |  |  |  |  |  |  |  |
Uncriticized |  | $ | 531,756 |  |  | $ | 943,991 |
Special mention |  |  | 16,499 |  |  |  | 10,633 |
Substandard |  |  | 8,785 |  |  |  | 5,641 |
Doubtful |  |  | - |  |  |  | - |
Total |  | $ | 557,040 |  |  | $ | 960,265 |
The Company utilizes payment status as a means of identifying and reporting problem and potential problem retail loans. The Company considers nonaccrual loans and loans past due greater than 90 days and still accruing interest to be non-performing. The following table sets forth the Company’s retail loan portfolio, categorized by payment status, as of December 31 (in thousands):
|  | Residential Real Estate Loans |  |  | Residential Real Estate Lines |  |  | Consumer Indirect |  |  | Other Consumer |
2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 558,233 |  |  | $ | 100,946 |  |  | $ | 820,454 |  |  | $ | 15,978 |
Non-performing |  |  | 2,484 |  |  |  | 102 |  |  |  | 1,725 |  |  |  | 6 |
Total |  | $ | 560,717 |  |  | $ | 101,048 |  |  | $ | 822,179 |  |  | $ | 15,984 |
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 512,590 |  |  | $ | 106,457 |  |  | $ | 886,743 |  |  | $ | 16,582 |
Non-performing |  |  | 2,391 |  |  |  | 255 |  |  |  | 1,989 |  |  |  | 8 |
Total |  | $ | 514,981 |  |  | $ | 106,712 |  |  | $ | 888,732 |  |  | $ | 16,590 |
(5.) | LOANS (Continued)
Allowance for Loan Losses The following tables set forth the changes in the allowance for loan losses for the years ended December 31 (in thousands):
|  | Commercial Business |  |  | Commercial Mortgage |  |  | Residential Real Estate Loans |  |  | Residential Real Estate Lines |  |  | Consumer Indirect |  |  | Other Consumer |  |  | Total |
2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 14,312 |  |  | $ | 5,219 |  |  | $ | 1,112 |  |  | $ | 210 |  |  | $ | 12,572 |  |  | $ | 489 |  |  | $ | 33,914 |
Charge-offs |  |  | (2,481 | ) |  |  | (2,997 | ) |  |  | (340 | ) |  |  | (13 | ) |  |  | (10,810 | ) |  |  | (1,170 | ) |  |  | (17,811 | )
Recoveries |  |  | 492 |  |  |  | 17 |  |  |  | 43 |  |  |  | 6 |  |  |  | 5,390 |  |  |  | 387 |  |  |  | 6,335 |
Provision (credit) |  |  | (965 | ) |  |  | 3,442 |  |  |  | 244 |  |  |  | (85 | ) |  |  | 4,700 |  |  |  | 708 |  |  |  | 8,044 |
Ending balance |  | $ | 11,358 |  |  | $ | 5,681 |  |  | $ | 1,059 |  |  | $ | 118 |  |  | $ | 11,852 |  |  | $ | 414 |  |  | $ | 30,482 |
Evaluated for impairment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually |  | $ | 214 |  |  | $ | 479 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 693 |
Collectively |  | $ | 11,144 |  |  | $ | 5,202 |  |  | $ | 1,059 |  |  | $ | 118 |  |  | $ | 11,852 |  |  | $ | 414 |  |  | $ | 29,789 |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance |  | $ | 571,222 |  |  | $ | 1,108,315 |  |  | $ | 560,717 |  |  | $ | 101,048 |  |  | $ | 822,179 |  |  | $ | 15,984 |  |  | $ | 3,179,465 |
Evaluated for impairment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually |  | $ | 1,177 |  |  | $ | 3,146 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 4,323 |
Collectively |  | $ | 570,045 |  |  | $ | 1,105,169 |  |  | $ | 560,717 |  |  | $ | 101,048 |  |  | $ | 822,179 |  |  | $ | 15,984 |  |  | $ | 3,175,142 |
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 15,668 |  |  | $ | 3,696 |  |  | $ | 1,322 |  |  | $ | 180 |  |  | $ | 13,415 |  |  | $ | 391 |  |  | $ | 34,672 |
Charge-offs |  |  | (2,319 | ) |  |  | (1,020 | ) |  |  | (95 | ) |  |  | (142 | ) |  |  | (10,850 | ) |  |  | (1,308 | ) |  |  | (15,734 | )
Recoveries |  |  | 509 |  |  |  | 13 |  |  |  | 159 |  |  |  | 20 |  |  |  | 5,024 |  |  |  | 317 |  |  |  | 6,042 |
Provision (credit) |  |  | 454 |  |  |  | 2,530 |  |  |  | (274 | ) |  |  | 152 |  |  |  | 4,983 |  |  |  | 1,089 |  |  |  | 8,934 |
Ending balance |  | $ | 14,312 |  |  | $ | 5,219 |  |  | $ | 1,112 |  |  | $ | 210 |  |  | $ | 12,572 |  |  | $ | 489 |  |  | $ | 33,914 |
Evaluated for impairment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually |  | $ | 205 |  |  | $ | 1 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 206 |
Collectively |  | $ | 14,107 |  |  | $ | 5,218 |  |  | $ | 1,112 |  |  | $ | 210 |  |  | $ | 12,572 |  |  | $ | 489 |  |  | $ | 33,708 |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance |  | $ | 557,040 |  |  | $ | 960,265 |  |  | $ | 514,981 |  |  | $ | 106,712 |  |  | $ | 888,732 |  |  | $ | 16,590 |  |  | $ | 3,044,320 |
Evaluated for impairment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually |  | $ | 1,044 |  |  | $ | 2,034 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 3,078 |
Collectively |  | $ | 555,996 |  |  | $ | 958,231 |  |  | $ | 514,981 |  |  | $ | 106,712 |  |  | $ | 888,732 |  |  | $ | 16,590 |  |  | $ | 3,041,242 |
(5.) | LOANS (Continued)
|  | Commercial Business |  |  | Commercial Mortgage |  |  | Residential Mortgage |  |  | Home Equity |  |  | Consumer Indirect |  |  | Other Consumer |  |  | Total |
2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 7,225 |  |  | $ | 10,315 |  |  | $ | 1,478 |  |  | $ | 303 |  |  | $ | 11,311 |  |  | $ | 302 |  |  | $ | 30,934 |
Charge-offs |  |  | (3,614 | ) |  |  | (10 | ) |  |  | (431 | ) |  |  | (106 | ) |  |  | (10,164 | ) |  |  | (926 | ) |  |  | (15,251 | )
Recoveries |  |  | 416 |  |  |  | 262 |  |  |  | 130 |  |  |  | 60 |  |  |  | 4,444 |  |  |  | 316 |  |  |  | 5,628 |
Provision |  |  | 11,641 |  |  |  | (6,871 | ) |  |  | 145 |  |  |  | (77 | ) |  |  | 7,824 |  |  |  | 699 |  |  |  | 13,361 |
Ending balance |  | $ | 15,668 |  |  | $ | 3,696 |  |  | $ | 1,322 |  |  | $ | 180 |  |  | $ | 13,415 |  |  | $ | 391 |  |  | $ | 34,672 |
Evaluated for impairment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually |  | $ | 2,001 |  |  | $ | 107 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 2,108 |
Collectively |  | $ | 13,667 |  |  | $ | 3,589 |  |  | $ | 1,322 |  |  | $ | 180 |  |  | $ | 13,415 |  |  | $ | 391 |  |  | $ | 32,564 |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance |  | $ | 449,763 |  |  | $ | 810,851 |  |  | $ | 457,761 |  |  | $ | 113,422 |  |  | $ | 845,682 |  |  | $ | 17,443 |  |  | $ | 2,694,922 |
Evaluated for impairment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually |  | $ | 5,322 |  |  | $ | 2,852 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 8,174 |
Collectively |  | $ | 444,441 |  |  | $ | 807,999 |  |  | $ | 457,761 |  |  | $ | 113,422 |  |  | $ | 845,682 |  |  | $ | 17,443 |  |  | $ | 2,686,748 |
Risk Characteristics Commercial business loans primarily consist of loans to small to mid-sized businesses in our market area in a diverse range of industries. These loans are of higher risk and typically are made on the basis of the borrower’s ability to make repayment from the cash flow of the borrower’s business. Further, the collateral securing the loans may depreciate over time, may be difficult to appraise and may fluctuate in value. The credit risk related to commercial loans is largely influenced by general economic conditions and the resulting impact on a borrower’s operations or on the value of underlying collateral, if any. Commercial mortgage loans generally have larger balances and involve a greater degree of risk than residential mortgage loans, potentially resulting in higher potential losses on an individual customer basis. Loan repayment is often dependent on the successful operation and management of the properties, as well as on the collateral securing the loan. Economic events or conditions in the real estate market could have an adverse impact on the cash flows generated by properties securing the Company’s commercial real estate loans and on the value of such properties. Residential real estate loans (comprised of conventional mortgages and home equity loans) and residential real estate lines (comprised of home equity lines) are generally made based on the borrower’s ability to make repayment from his or her employment and other income but are secured by real property whose value tends to be more easily ascertainable. Credit risk for these types of loans is generally influenced by general economic conditions, the characteristics of individual borrowers, and the nature of the loan collateral. Consumer indirect and other consumer loans may entail greater credit risk than residential mortgage loans and home equities, particularly in the case of other consumer loans which are unsecured or, in the case of indirect consumer loans, secured by depreciable assets, such as automobiles. In such cases, any repossessed collateral for a defaulted consumer loan may not provide an adequate source of repayment of the outstanding loan balance. In addition, consumer loan collections are dependent on the borrower’s continuing financial stability, and thus are more likely to be affected by adverse personal circumstances such as job loss, illness or personal bankruptcy. Furthermore, the application of various federal and state laws, including bankruptcy and insolvency laws, may limit the amount which can be recovered on such loans.

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 + Details
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