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Loans and Credit Quality | 9 Months Ended
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Sep. 30, 2020
Receivables [Abstract] |
Loans and Credit Quality | Loans and Credit Quality The following table presents total portfolio loans by portfolio segment and class of financing receivable, based on the Company's asset quality rating ("AQR") criteria:
(In Thousands) | Commercial |  | Real estate construction one-to-four family |  | Real estate construction other |  | Real estate term owner occupied |  | Real estate term non-owner occupied |  | Real estate term other |  | Consumer secured by 1st deeds of trust |  | Consumer other |  | Total
September 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AQR Pass | $821,117 |  |  | $37,256 |  |  | $82,661 |  |  | $138,886 |  |  | $302,902 |  |  | $40,191 |  |  | $13,726 |  |  | $23,023 |  |  | $1,459,762 |
AQR Special Mention | 5,782 |  |  | — |  |  | — |  |  | 2,677 |  |  | 17,178 |  |  | 2,172 |  |  | 176 |  |  | — |  |  | 27,985 |
AQR Substandard | 8,971 |  |  | 702 |  |  | — |  |  | 7,430 |  |  | 613 |  |  | 1,176 |  |  | 148 |  |  | 110 |  |  | 19,150 |
AQR Doubtful | 308 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 308 |
Subtotal | $836,178 |  |  | $37,958 |  |  | $82,661 |  |  | $148,993 |  |  | $320,693 |  |  | $43,539 |  |  | $14,050 |  |  | $23,133 |  |  | $1,507,205 |
Less: Unearned origination fees, net of origination costs |  |  |  |  |  | (14,485) |
Total loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $1,492,720 |
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AQR Pass | $394,107 |  |  | $34,132 |  |  | $61,808 |  |  | $129,959 |  |  | $295,482 |  |  | $38,771 |  |  | $15,860 |  |  | $24,464 |  |  | $994,583 |
AQR Special Mention | 2,279 |  |  | 3,337 |  |  | — |  |  | 3,828 |  |  | 17,478 |  |  | 2,559 |  |  | 179 |  |  | — |  |  | 29,660 |
AQR Substandard | 16,304 |  |  | 1,349 |  |  | — |  |  | 5,104 |  |  | — |  |  | 1,176 |  |  | 159 |  |  | 121 |  |  | 24,213 |
Subtotal | $412,690 |  |  | $38,818 |  |  | $61,808 |  |  | $138,891 |  |  | $312,960 |  |  | $42,506 |  |  | $16,198 |  |  | $24,585 |  |  | $1,048,456 |
Less: Unearned origination fees, net of origination costs |  |  |  |  |  | (5,085) |
Total loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $1,043,371 |
The above table includes $375.6 million in Paycheck Protection Program ("PPP") loans administered by the U.S. Small Business Administration ("SBA") within the Commercial loan segment as of September 30, 2020. Additionally, unearned origination fee, net of origination costs includes $8.8 million associated with SBA PPP loans. Nonaccrual loans: Nonaccrual loans net of government guarantees totaled $11.0 million and $14.0 million at September 30, 2020 and December 31, 2019, respectively. Nonaccrual loans at the periods indicated are presented below by segment:
(In Thousands) | 30-59 Days Past Due |  | 60-89 Days Past Due |  | Greater Than 90 Days Past Due |  | Current |  | Total
September 30, 2020 |  |  |  |  |  |  |  |  |
Commercial | $115 |  |  | $— |  |  | $4,634 |  |  | $2,082 |  |  | $6,831 |
Real estate construction one-to-four family | — |  |  | — |  |  | 702 |  |  | — |  |  | 702 |
Real estate term owner occupied | — |  |  | 226 |  |  | 2,729 |  |  | 809 |  |  | 3,764 |
Real estate term other | — |  |  | — |  |  | 1,176 |  |  | — |  |  | 1,176 |
Consumer secured by 1st deeds of trust | — |  |  | — |  |  | — |  |  | 65 |  |  | 65 |
Consumer other | — |  |  | — |  |  | — |  |  | 109 |  |  | 109 |
Total nonperforming loans | 115 |  |  | 226 |  |  | 9,241 |  |  | 3,065 |  |  | 12,647 |
Government guarantees on nonaccrual loans | — |  |  | — |  |  | — |  |  | (1,600) |  |  | (1,600) |
Net nonaccrual loans | $115 |  |  | $226 |  |  | $9,241 |  |  | $1,465 |  |  | $11,047 |
December 31, 2019 |  |  |  |  |  |  |  |  |
Commercial | $270 |  |  | $385 |  |  | $2,862 |  |  | $5,636 |  |  | $9,153 |
Real estate construction one-to-four family | — |  |  | — |  |  | 1,349 |  |  | — |  |  | 1,349 |
Real estate term owner occupied | 1,641 |  |  | — |  |  | 623 |  |  | 1,225 |  |  | 3,489 |
Real estate term other | — |  |  | — |  |  | 1,176 |  |  | — |  |  | 1,176 |
Consumer secured by 1st deeds of trust | — |  |  | — |  |  | — |  |  | 68 |  |  | 68 |
Consumer other | 26 |  |  | 89 |  |  | — |  |  | 6 |  |  | 121 |
Total nonperforming loans | 1,937 |  |  | 474 |  |  | 6,010 |  |  | 6,935 |  |  | 15,356 |
Government guarantees on nonaccrual loans | (268) |  |  | — |  |  | — |  |  | (1,137) |  |  | (1,405) |
Net nonaccrual loans | $1,669 |  |  | $474 |  |  | $6,010 |  |  | $5,798 |  |  | $13,951 |
Past Due Loans: Past due loans and nonaccrual loans at the periods indicated are presented below by segment:
(In Thousands) | 30-59 Days Past Due Still Accruing |  | 60-89 Days Past Due Still Accruing |  | Greater Than 90 Days Still Accruing |  | Total Past Due |  | Nonaccrual |  | Current |  | Total
September 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial | $— |  |  | $— |  |  | $— |  |  | $— |  |  | $6,831 |  |  | $829,347 |  |  | $836,178 |
Real estate construction one-to-four family | — |  |  | — |  |  | — |  |  | — |  |  | 702 |  |  | 37,256 |  |  | 37,958 |
Real estate construction other | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 82,661 |  |  | 82,661 |
Real estate term owner occupied | — |  |  | 1,421 |  |  | — |  |  | 1,421 |  |  | 3,764 |  |  | 143,808 |  |  | 148,993 |
Real estate term non-owner occupied | — |  |  | 691 |  |  | — |  |  | 691 |  |  | — |  |  | 320,002 |  |  | 320,693 |
Real estate term other | — |  |  | — |  |  | — |  |  | — |  |  | 1,176 |  |  | 42,363 |  |  | 43,539 |
Consumer secured by 1st deed of trust | 236 |  |  | — |  |  | — |  |  | 236 |  |  | 65 |  |  | 13,749 |  |  | 14,050 |
Consumer other | — |  |  | — |  |  | — |  |  | — |  |  | 109 |  |  | 23,024 |  |  | 23,133 |
Subtotal | $236 |  |  | $2,112 |  |  | $— |  |  | $2,348 |  |  | $12,647 |  |  | $1,492,210 |  |  | $1,507,205 |
Less: Unearned origination fees, net of origination costs |  |  |  |  |  |  |  | (14,485) |
Total |  |  |  |  |  |  |  |  |  |  |  |  | $1,492,720 |
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial | $270 |  |  | $— |  |  | $— |  |  | $270 |  |  | $9,153 |  |  | $403,267 |  |  | $412,690 |
Real estate construction one-to-four family | — |  |  | — |  |  | — |  |  | — |  |  | 1,349 |  |  | 37,469 |  |  | 38,818 |
Real estate construction other | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 61,808 |  |  | 61,808 |
Real estate term owner occupied | 338 |  |  | — |  |  | — |  |  | 338 |  |  | 3,489 |  |  | 135,064 |  |  | 138,891 |
Real estate term non-owner occupied | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 312,960 |  |  | 312,960 |
Real estate term other | 26 |  |  | — |  |  | — |  |  | 26 |  |  | 1,176 |  |  | 41,304 |  |  | 42,506 |
Consumer secured by 1st deed of trust | 750 |  |  | — |  |  | — |  |  | 750 |  |  | 68 |  |  | 15,380 |  |  | 16,198 |
Consumer other | 150 |  |  | — |  |  | — |  |  | 150 |  |  | 121 |  |  | 24,314 |  |  | 24,585 |
Subtotal | $1,534 |  |  | $— |  |  | $— |  |  | $1,534 |  |  | $15,356 |  |  | $1,031,566 |  |  | $1,048,456 |
Less: Unearned origination fees, net of origination costs |  |  |  |  |  |  |  | (5,085) |
Total |  |  |  |  |  |  |  |  |  |  |  |  | $1,043,371 |
Impaired Loans: The following table presents information about impaired loans by class as of the periods indicated:
(In Thousands) | Recorded Investment |  | Unpaid Principal Balance |  | Related Allowance
September 30, 2020 |  |  |  |  |
With no related allowance recorded |  |  |  |  |
Commercial - AQR substandard | $8,668 |  |  | $8,872 |  |  | $— |
Commercial - AQR doubtful | 308 |  |  | 308 |  |  | — |
Real estate construction one-to-four family - AQR substandard | 702 |  |  | 702 |  |  | — |
Real estate term owner occupied - AQR substandard | 7,430 |  |  | 7,515 |  |  | — |
Real estate term non-owner occupied - AQR pass | 177 |  |  | 177 |  |  | — |
Real estate term non-owner occupied - AQR substandard | 613 |  |  | 613 |  |  | — |
Real estate term other - AQR pass | 322 |  |  | 322 |  |  | — |
Real estate term other - AQR substandard | 1,176 |  |  | 1,176 |  |  | — |
Consumer secured by 1st deeds of trust - AQR pass | 116 |  |  | 116 |  |  | — |
Consumer secured by 1st deeds of trust - AQR substandard | 148 |  |  | 148 |  |  | — |
Consumer other - AQR substandard | 84 |  |  | 88 |  |  | — |
Subtotal | $19,744 |  |  | $20,037 |  |  | $— |
With an allowance recorded |  |  |  |  |
Commercial - AQR substandard | $202 |  |  | $202 |  |  | $41 |
Subtotal | $202 |  |  | $202 |  |  | $41 |
Total |  |  |  |  |
Commercial - AQR substandard | $8,870 |  |  | $9,074 |  |  | $41 |
Commercial - AQR doubtful | 308 |  |  | 308 |  |  | — |
Real estate construction one-to-four family - AQR substandard | 702 |  |  | 702 |  |  | — |
Real estate term owner-occupied - AQR substandard | 7,430 |  |  | 7,515 |  |  | — |
Real estate term non-owner occupied - AQR pass | 177 |  |  | 177 |  |  | — |
Real estate term non-owner occupied - AQR substandard | 613 |  |  | 613 |  |  | — |
Real estate term other - AQR pass | 322 |  |  | 322 |  |  | — |
Real estate term other - AQR substandard | 1,176 |  |  | 1,176 |  |  | — |
Consumer secured by 1st deeds of trust - AQR pass | 116 |  |  | 116 |  |  | — |
Consumer secured by 1st deeds of trust - AQR substandard | 148 |  |  | 148 |  |  | — |
Consumer other - AQR substandard | 84 |  |  | 88 |  |  | — |
Total | $19,946 |  |  | $20,239 |  |  | $41 |
(In Thousands) | Recorded Investment |  | Unpaid Principal Balance |  | Related Allowance
December 31, 2019 |  |  |  |  |
With no related allowance recorded |  |  |  |  |
Commercial - AQR substandard | $15,517 |  |  | $15,582 |  |  | $— |
Real estate construction one-to-four family -AQR substandard | 1,349 |  |  | 1,349 |  |  | — |
Real estate term owner occupied - AQR substandard | 5,104 |  |  | 5,104 |  |  | — |
Real estate term non-owner occupied - AQR pass | 178 |  |  | 178 |  |  | — |
Real estate term other - AQR pass | 417 |  |  | 417 |  |  | — |
Real estate term other - AQR substandard | 1,176 |  |  | 1,176 |  |  | — |
Consumer secured by 1st deeds of trust - AQR pass | 122 |  |  | 122 |  |  | — |
Consumer secured by 1st deeds of trust - AQR substandard | 159 |  |  | 163 |  |  | — |
Consumer other - AQR substandard | 90 |  |  | 94 |  |  | — |
Subtotal | $24,112 |  |  | $24,185 |  |  | $— |
With an allowance recorded |  |  |  |  |
Commercial - AQR substandard | $561 |  |  | $561 |  |  | $17 |
Subtotal | $561 |  |  | $561 |  |  | $17 |
Total |  |  |  |  |
Commercial - AQR substandard | $16,078 |  |  | $16,143 |  |  | $17 |
Real estate construction one-to-four family -AQR substandard | 1,349 |  |  | 1,349 |  |  | — |
Real estate term owner occupied - AQR substandard | 5,104 |  |  | 5,104 |  |  | — |
Real estate term non-owner occupied - AQR pass | 178 |  |  | 178 |  |  | — |
Real estate term other - AQR pass | 417 |  |  | 417 |  |  | — |
Real estate term other - AQR substandard | 1,176 |  |  | 1,176 |  |  | — |
Consumer secured by 1st deeds of trust - AQR pass | 122 |  |  | 122 |  |  | — |
Consumer secured by 1st deeds of trust - AQR substandard | 159 |  |  | 163 |  |  | — |
Consumer other - AQR substandard | 90 |  |  | 94 |  |  | — |
Total | $24,673 |  |  | $24,746 |  |  | $17 |
The unpaid principal balance included in the tables above represents the recorded investment at the dates indicated, plus amounts charged off for book purposes. The following tables summarize our average recorded investment and interest income recognized on impaired loans for the three and nine-month periods ended September 30, 2020 and 2019:
Three Months Ended September 30, | 2020 |  | 2019
(In Thousands) | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized
With no related allowance recorded |  |  |  |  |  |  |
Commercial - AQR substandard | $8,564 |  |  | $42 |  |  | $17,616 |  |  | $107 |
Commercial - AQR doubtful | 308 |  |  | — |  |  | — |  |  | — |
Real estate construction one-to-four family - AQR substandard | 488 |  |  | — |  |  | 1,482 |  |  | — |
Real estate term owner occupied- AQR substandard | 6,998 |  |  | 47 |  |  | 5,896 |  |  | 34 |
Real estate term non-owner occupied- AQR pass | 177 |  |  | 3 |  |  | 242 |  |  | 4 |
Real estate term non-owner occupied- AQR substandard | 619 |  |  | 19 |  |  | — |  |  | — |
Real estate term other - AQR pass | 348 |  |  | 6 |  |  | 438 |  |  | 8 |
Real estate term other - AQR substandard | 1,228 |  |  | — |  |  | 1,198 |  |  | — |
Consumer secured by 1st deeds of trust - AQR pass | 117 |  |  | 3 |  |  | 125 |  |  | 3 |
Consumer secured by 1st deeds of trust - AQR substandard | 269 |  |  | — |  |  | 93 |  |  | 2 |
Consumer other - AQR substandard | 84 |  |  | — |  |  | 93 |  |  | — |
Subtotal | $19,200 |  |  | $120 |  |  | $27,183 |  |  | $158 |
With an allowance recorded |  |  |  |  |  |  |
Commercial - AQR substandard | $226 |  |  | $8 |  |  | $391 |  |  | $— |
Consumer secured by 1st deeds of trust - AQR substandard | — |  |  | — |  |  | 74 |  |  | — |
Subtotal | $226 |  |  | $8 |  |  | $465 |  |  | $— |
Total |  |  |  |  |  |  |
Commercial - AQR substandard | $8,790 |  |  | $50 |  |  | $18,007 |  |  | $107 |
Commercial - AQR doubtful | 308 |  |  | — |  |  | — |  |  | — |
Real estate construction one-to-four family - AQR substandard | 488 |  |  | — |  |  | 1,482 |  |  | — |
Real estate term owner-occupied - AQR substandard | 6,998 |  |  | 47 |  |  | 5,896 |  |  | 34 |
Real estate term non-owner occupied - AQR pass | 177 |  |  | 3 |  |  | 242 |  |  | 4 |
Real estate term non-owner occupied - AQR substandard | 619 |  |  | 19 |  |  | — |  |  | — |
Real estate term other - AQR pass | 348 |  |  | 6 |  |  | 438 |  |  | 8 |
Real estate term other - AQR substandard | 1,228 |  |  | — |  |  | 1,198 |  |  | — |
Consumer secured by 1st deeds of trust - AQR pass | 117 |  |  | 3 |  |  | 125 |  |  | 3 |
Consumer secured by 1st deeds of trust - AQR substandard | 269 |  |  | — |  |  | 167 |  |  | 2 |
Consumer other - AQR substandard | 84 |  |  | — |  |  | 93 |  |  | — |
Total Impaired Loans | $19,426 |  |  | $128 |  |  | $27,648 |  |  | $158 |
Nine Months Ended September 30, | 2020 |  | 2019
(In Thousands) | Average Recorded Investment | Interest Income Recognized | Average Recorded Investment | Interest Income Recognized
With no related allowance recorded |  |  |  |  |  |  |
Commercial - AQR pass | $— |  |  | $— |  |  | $711 |  |  | $35 |
Commercial - AQR substandard | 9,899 |  |  | 138 |  |  | 17,205 |  |  | 292 |
Commercial - AQR doubtful | 103 |  |  | — |  |  | — |  |  | — |
Real estate construction one-to-four family - AQR substandard | 808 |  |  | — |  |  | 2,109 |  |  | — |
Real estate term owner occupied- AQR substandard | 6,586 |  |  | 125 |  |  | 5,896 |  |  | 83 |
Real estate term non-owner occupied- AQR pass | 177 |  |  | 10 |  |  | 269 |  |  | 15 |
Real estate term non-owner occupied- AQR substandard | 312 |  |  | 20 |  |  | 307 |  |  | — |
Real estate term other - AQR pass | 380 |  |  | 20 |  |  | 457 |  |  | 24 |
Real estate term other - AQR substandard | 1,194 |  |  | — |  |  | 998 |  |  | — |
Consumer secured by 1st deeds of trust - AQR pass | 119 |  |  | 9 |  |  | 127 |  |  | 9 |
Consumer secured by 1st deeds of trust - AQR substandard | 149 |  |  | 3 |  |  | 215 |  |  | 5 |
Consumer secured by 1st deeds of trust - AQR loss | 44 |  |  | — |  |  | — |  |  | — |
Consumer other - AQR substandard | 87 |  |  | — |  |  | 63 |  |  | — |
Subtotal | $19,858 |  |  | $325 |  |  | $28,357 |  |  | $463 |
With an allowance recorded |  |  |  |  |  |  |
Commercial - AQR substandard | $1,794 |  |  | $8 |  |  | $715 |  |  | $— |
Real estate term other - AQR substandard | — |  |  | — |  |  | 218 |  |  | — |
Consumer secured by 1st deeds of trust - AQR substandard | — |  |  | — |  |  | 97 |  |  | — |
Subtotal | $1,794 |  |  | $8 |  |  | $1,030 |  |  | $— |
Total |  |  |  |  |  |  |
Commercial - AQR pass | $— |  |  | $— |  |  | $711 |  |  | $35 |
Commercial - AQR substandard | 11,693 |  |  | 146 |  |  | 17,920 |  |  | 292 |
Commercial - AQR doubtful | 103 |  |  | — |  |  | — |  |  | — |
Real estate construction one-to-four family - AQR substandard | 808 |  |  | — |  |  | 2,109 |  |  | — |
Real estate term owner-occupied - AQR substandard | 6,586 |  |  | 125 |  |  | 5,896 |  |  | 83 |
Real estate term non-owner occupied - AQR pass | 177 |  |  | 10 |  |  | 269 |  |  | 15 |
Real estate term non-owner occupied - AQR substandard | 312 |  |  | 20 |  |  | 307 |  |  | — |
Real estate term other - AQR pass | 380 |  |  | 20 |  |  | 457 |  |  | 24 |
Real estate term other - AQR substandard | 1,194 |  |  | — |  |  | 1,216 |  |  | — |
Consumer secured by 1st deeds of trust - AQR pass | 119 |  |  | 9 |  |  | 127 |  |  | 9 |
Consumer secured by 1st deeds of trust - AQR substandard | 149 |  |  | 3 |  |  | 312 |  |  | 5 |
Consumer secured by 1st deeds of trust - AQR loss | 44 |  |  | — |  |  | — |  |  | — |
Consumer other - AQR substandard | 87 |  |  | — |  |  | 63 |  |  | — |
Total Impaired Loans | $21,652 |  |  | $333 |  |  | $29,387 |  |  | $463 |
Troubled Debt Restructurings: Loans classified as troubled debt restructurings (“TDR”) totaled $8.5 million and $10.1 million at September 30, 2020 and December 31, 2019, respectively. A TDR is a loan to a borrower that is experiencing financial difficulty that has been modified from its original terms and conditions in such a way that the Company is granting the borrower a concession that it would not grant otherwise. The provisions of the CARES Act included an election to not apply the guidance on accounting for troubled debt restructurings to loan modifications, such as extensions or deferrals, related to COVID-19 made between March 1, 2020 and the earlier of (i) December 31, 2020 or (ii) 60 days after the end of the COVID-19 national emergency. The relief can only be applied to modifications for borrowers that were not more than 30 days past due as of December 31, 2019. The Company has elected to adopt these provisions of the CARES Act. As of September 30, 2020, the Company has made the following types of loan modifications related to COVID-19, which are not classified as TDRs with principal balance outstanding of:
(Dollars in thousands) | Interest Only | Full Payment Deferral | Total
Portfolio loans | $46,056 |  | $74,337 |  | $120,393 |
Number of modifications | 16 |  | 59 |  | 75 |
The Company has granted a variety of concessions to borrowers in the form of loan modifications. The modifications granted can generally be described in the following categories: Rate Modification: A modification in which the interest rate is changed. Term Modification: A modification in which the maturity date, timing of payments, or frequency of payments is changed. Payment Modification: A modification in which the dollar amount of the payment is changed, or in which a loan is converted to interest only payments for a period of time is included in this category. Combination Modification: Any other type of modification, including the use of multiple categories above. AQR pass graded loans included above in the impaired loan data are loans classified as TDRs. By definition, TDRs are considered impaired loans. All of the Company's TDRs are included in impaired loans. The following table presents the breakout between newly restructured loans that occurred during the nine months ended September 30, 2020 and restructured loans that occurred prior to 2020 that are still included in portfolio loans. As discussed above, the CARES Act provided banks an option to elect to not account for certain loan modifications related to COVID-19 as TDRs as long as the borrowers were not more than 30 days past due as of December 31, 2019. The below disclosed restructurings were not related to COVID-19 modifications:
| Accrual Status |  | Nonaccrual Status |  | Total Modifications
(In Thousands) |  |
New Troubled Debt Restructurings |  |  |  |  |
Commercial - AQR substandard | $1,565 |  |  | $163 |  |  | $1,728 |
Subtotal | $1,565 |  |  | $163 |  |  | $1,728 |
Existing Troubled Debt Restructurings | $802 |  |  | $5,946 |  |  | $6,748 |
Total | $2,367 |  |  | $6,109 |  |  | $8,476 |
The following tables present newly restructured loans that occurred during the nine months ended September 30, 2020 and 2019, by concession (terms modified):
|  |  | September 30, 2020
| Number of Contracts |  | Rate Modification |  | Term Modification |  | Payment Modification |  | Combination Modification |  | Total Modifications
(In Thousands) |  |  |  |  |
Pre-Modification Outstanding Recorded Investment: |  |  |  |  |  |  |  |  |  |  |
Commercial - AQR substandard | 2 |  | $— |  |  | $3,249 |  |  | $164 |  |  | $— |  |  | $3,413 |
Total | 2 |  | $— |  |  | $3,249 |  |  | $164 |  |  | $— |  |  | $3,413 |
Post-Modification Outstanding Recorded Investment: |  |  |  |  |  |  |  |  |  |  |
Commercial - AQR substandard | 2 |  | $— |  |  | $1,565 |  |  | $163 |  |  | $— |  |  | $1,728 |
Total | 2 |  | $— |  |  | $1,565 |  |  | $163 |  |  | $— |  |  | $1,728 |
|  |  | September 30, 2019
| Number of Contracts |  | Rate Modification |  | Term Modification |  | Payment Modification |  | Combination Modification |  | Total Modifications
(In Thousands) |  |  |  |  |
Pre-Modification Outstanding Recorded Investment: |  |  |  |  |  |  |  |  |  |  |
Commercial - AQR substandard | 5 |  | $— |  |  | $— |  |  | $509 |  |  | $1,350 |  |  | $1,859 |
Real estate term owner occupied- AQR substandard | 1 |  | — |  |  | — |  |  | 192 |  |  | — |  |  | 192 |
Total | 6 |  | $— |  |  | $— |  |  | $701 |  |  | $1,350 |  |  | $2,051 |
Post-Modification Outstanding Recorded Investment: |  |  |  |  |  |  |  |  |  |  |
Commercial - AQR substandard | 5 |  | $— |  |  | $— |  |  | $425 |  |  | $1,340 |  |  | $1,765 |
Real estate term owner occupied- AQR substandard | 1 |  | — |  |  | — |  |  | 188 |  |  | — |  |  | 188 |
Total | 6 |  | $— |  |  | $— |  |  | $613 |  |  | $1,340 |  |  | $1,953 |
The Company had no commitments to extend additional credit to borrowers whose terms have been modified in TDRs. There were no in charge-offs in the nine months ended September 30, 2020 on loans that were newly classified as TDRs during the same period. All TDRs are also classified as impaired loans and are included in the loans individually evaluated for impairment in the calculation of the allowance for loan losses ("Allowance"). There were no TDRs with specific impairment at September 30, 2020 and December 31, 2019, respectively. The Company had no TDRs that defaulted within twelve months of restructure and defaulted during the nine months ended September 30, 2020 and 2019, respectively.

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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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