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LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables) | 6 Months Ended
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Jun. 30, 2017
Loans and Leases Receivable Disclosure [Abstract] |
Composition of the loan portfolio by type | The composition of the loan portfolio, net of deferred origination fees and costs, is summarized as follows (in thousands):
|  | June 30, 2017 |  | December 31, 2016
Commercial and agricultural: |  |  |  |
Commercial and industrial |  | $ | 188,930 |  |  | $ | 176,201 |
Agricultural |  | 531 |  |  | 360 |
Commercial mortgages: |  |  |  |  |  |
Construction |  | 57,549 |  |  | 46,387 |
Commercial mortgages, other |  | 547,165 |  |  | 522,269 |
Residential mortgages |  | 200,629 |  |  | 198,493 |
Consumer loans: |  |  |  |  |  |
Credit cards |  | 1,403 |  |  | 1,476 |
Home equity lines and loans |  | 97,273 |  |  | 98,590 |
Indirect consumer loans |  | 142,791 |  |  | 139,572 |
Direct consumer loans |  | 16,376 |  |  | 16,942 |
Total loans, net of deferred origination fees and costs |  | $ | 1,252,647 |  |  | $ | 1,200,290 |
Interest receivable on loans |  | 3,149 |  |  | 3,192 |
Total recorded investment in loans |  | $ | 1,255,796 |  |  | $ | 1,203,482 |
Allowance for loan losses by portfolio segment | The following tables present the activity in the allowance for loan losses by portfolio segment for the three and six-month periods ended June 30, 2017 and 2016 (in thousands):
| Three Months Ended June 30, 2017
Allowance for loan losses | Commercial and Agricultural |  | Commercial Mortgages |  | Residential Mortgages |  | Consumer Loans |  | Total
Beginning balance | $ | 1,650 |  |  | $ | 7,749 |  |  | $ | 1,512 |  |  | $ | 4,049 |  |  | $ | 14,960 |
Charge-offs | (2 | ) |  | — |  |  | (48 | ) |  | (397 | ) |  | (447 | )
Recoveries | 36 |  |  | 2 |  |  | 13 |  |  | 119 |  |  | 170 |
Net recoveries (charge-offs) | 34 |  |  | 2 |  |  | (35 | ) |  | (278 | ) |  | (277 | )
Provision | 199 |  |  | 27 |  |  | 40 |  |  | 155 |  |  | 421 |
Ending balance | $ | 1,883 |  |  | $ | 7,778 |  |  | $ | 1,517 |  |  | $ | 3,926 |  |  | $ | 15,104 |
| Three Months Ended June 30, 2016
Allowance for loan losses | Commercial and Agricultural |  | Commercial Mortgages |  | Residential Mortgages |  | Consumer Loans |  | Total
Beginning balance | $ | 1,795 |  |  | $ | 7,532 |  |  | $ | 1,482 |  |  | $ | 3,718 |  |  | $ | 14,527 |
Charge-offs | (9 | ) |  | — |  |  | (58 | ) |  | (272 | ) |  | (339 | )
Recoveries | 18 |  |  | 2 |  |  | — |  |  | 72 |  |  | 92 |
Net recoveries (charge-offs) | 9 |  |  | 2 |  |  | (58 | ) |  | (200 | ) |  | (247 | )
Provision | (33 | ) |  | 220 |  |  | 80 |  |  | 121 |  |  | 388 |
Ending balance | $ | 1,771 |  |  | $ | 7,754 |  |  | $ | 1,504 |  |  | $ | 3,639 |  |  | $ | 14,668 |
| Six Months Ended June 30, 2017
Allowance for loan losses | Commercial and Agricultural |  | Commercial Mortgages |  | Residential Mortgages |  | Consumer Loans |  | Total
Beginning balance: | $ | 1,589 |  |  | $ | 7,270 |  |  | $ | 1,523 |  |  | $ | 3,871 |  |  | $ | 14,253 |
Charge-offs: | (7 | ) |  | — |  |  | (60 | ) |  | (825 | ) |  | (892 | )
Recoveries: | 61 |  |  | 3 |  |  | 30 |  |  | 188 |  |  | 282 |
Net recoveries (charge-offs) | 54 |  |  | 3 |  |  | (30 | ) |  | (637 | ) |  | (610 | )
Provision | 240 |  |  | 505 |  |  | 24 |  |  | 692 |  |  | 1,461 |
Ending balance | $ | 1,883 |  |  | $ | 7,778 |  |  | $ | 1,517 |  |  | $ | 3,926 |  |  | $ | 15,104 |
| Six Months Ended June 30, 2016
Allowance for loan losses | Commercial and Agricultural |  | Commercial Mortgages |  | Residential Mortgages |  | Consumer Loans |  | Total
Beginning balance: | $ | 1,831 |  |  | $ | 7,112 |  |  | $ | 1,464 |  |  | $ | 3,853 |  |  | $ | 14,260 |
Charge-offs: | (17 | ) |  | — |  |  | (58 | ) |  | (715 | ) |  | (790 | )
Recoveries: | 50 |  |  | 9 |  |  | — |  |  | 156 |  |  | 215 |
Net recoveries (charge-offs) | 33 |  |  | 9 |  |  | (58 | ) |  | (559 | ) |  | (575 | )
Provision | (93 | ) |  | 633 |  |  | 98 |  |  | 345 |  |  | 983 |
Ending balance | $ | 1,771 |  |  | $ | 7,754 |  |  | $ | 1,504 |  |  | $ | 3,639 |  |  | $ | 14,668 |
Allowance for loan losses and the recorded investment in loans based on impairment method | The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of June 30, 2017 and December 31, 2016 (in thousands):
| June 30, 2017
Allowance for loan losses: | Commercial and Agricultural |  | Commercial Mortgages |  | Residential Mortgages |  | Consumer Loans |  | Total
Ending allowance balance attributable to loans: |  |  |  |  |  |  |  |  |
Individually evaluated for impairment | $ | 84 |  |  | $ | 886 |  |  | $ | — |  |  | $ | — |  |  | $ | 970 |
Collectively evaluated for impairment | 1,799 |  |  | 6,862 |  |  | 1,517 |  |  | 3,926 |  |  | 14,104 |
Loans acquired with deteriorated credit quality | — |  |  | 30 |  |  | — |  |  | — |  |  | 30 |
Total ending allowance balance | $ | 1,883 |  |  | $ | 7,778 |  |  | $ | 1,517 |  |  | $ | 3,926 |  |  | $ | 15,104 |
| December 31, 2016
Allowance for loan losses: | Commercial and Agricultural |  | Commercial Mortgages |  | Residential Mortgages |  | Consumer Loans |  | Total
Ending allowance balance attributable to loans: |  |  |  |  |  |  |  |  |
Individually evaluated for impairment | $ | — |  |  | $ | 735 |  |  | $ | — |  |  | $ | 141 |  |  | $ | 876 |
Collectively evaluated for impairment | 1,589 |  |  | 6,476 |  |  | 1,498 |  |  | 3,730 |  |  | 13,293 |
Loans acquired with deteriorated credit quality | — |  |  | 59 |  |  | 25 |  |  | — |  |  | 84 |
Total ending allowance balance | $ | 1,589 |  |  | $ | 7,270 |  |  | $ | 1,523 |  |  | $ | 3,871 |  |  | $ | 14,253 |
| June 30, 2017
Loans: | Commercial and Agricultural |  | Commercial Mortgages |  | Residential Mortgages |  | Consumer Loans |  | Total
Loans individually evaluated for impairment | $ | 772 |  |  | $ | 11,823 |  |  | $ | 443 |  |  | $ | 70 |  |  | $ | 13,108 |
Loans collectively evaluated for impairment | 189,167 |  |  | 593,413 |  |  | 200,674 |  |  | 258,428 |  |  | 1,241,682 |
Loans acquired with deteriorated credit quality | — |  |  | 1,006 |  |  | — |  |  | — |  |  | 1,006 |
Total ending loans balance | $ | 189,939 |  |  | $ | 606,242 |  |  | $ | 201,117 |  |  | $ | 258,498 |  |  | $ | 1,255,796 |
| December 31, 2016
Loans: | Commercial and Agricultural |  | Commercial Mortgages |  | Residential Mortgages |  | Consumer Loans |  | Total
Loans individually evaluated for impairment | $ | 693 |  |  | $ | 10,382 |  |  | $ | 396 |  |  | $ | 455 |  |  | $ | 11,926 |
Loans collectively evaluated for impairment | 176,334 |  |  | 558,451 |  |  | 198,474 |  |  | 256,879 |  |  | 1,190,138 |
Loans acquired with deteriorated credit quality | — |  |  | 1,323 |  |  | 95 |  |  | — |  |  | 1,418 |
Total ending loans balance | $ | 177,027 |  |  | $ | 570,156 |  |  | $ | 198,965 |  |  | $ | 257,334 |  |  | $ | 1,203,482 |
Summary of impaired financing receivables | The following table presents loans individually evaluated for impairment recognized by class of loans as of June 30, 2017 and December 31, 2016 (in thousands):
| June 30, 2017 |  | December 31, 2016
With no related allowance recorded: | Unpaid Principal Balance |  | Recorded Investment |  | Allowance for Loan Losses Allocated |  | Unpaid Principal Balance |  | Recorded Investment |  | Allowance for Loan Losses Allocated
Commercial and agricultural: |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial | $ | 602 |  |  | $ | 604 |  |  | $ | — |  |  | $ | 690 |  |  | $ | 693 |  |  | $ | — |
Commercial mortgages: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction | 1,550 |  |  | 1,551 |  |  | — |  |  | 277 |  |  | 278 |  |  | — |
Commercial mortgages, other | 5,641 |  |  | 5,615 |  |  | — |  |  | 8,792 |  |  | 7,857 |  |  | — |
Residential mortgages | 466 |  |  | 443 |  |  | — |  |  | 395 |  |  | 396 |  |  | — |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity lines and loans | 69 |  |  | 70 |  |  | — |  |  | 93 |  |  | 95 |  |  | — |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and agricultural: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial | 168 |  |  | 168 |  |  | 84 |  |  | — |  |  | — |  |  | — |
Commercial mortgages: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial mortgages, other | 5,595 |  |  | 4,657 |  |  | 886 |  |  | 2,245 |  |  | 2,247 |  |  | 735 |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity lines and loans | — |  |  | — |  |  | — |  |  | 360 |  |  | 360 |  |  | 141 |
Total | $ | 14,091 |  |  | $ | 13,108 |  |  | $ | 970 |  |  | $ | 12,852 |  |  | $ | 11,926 |  |  | $ | 876 |
The following table presents the average recorded investment and interest income of loans individually evaluated for impairment recognized by class of loans as of the three and six-month periods ended June 30, 2017 and 2016 (in thousands):
|  | Three Months Ended June 30, 2017 |  | Three Months Ended June 30, 2016 |  | Six Months Ended June 30, 2017 |  | Six Months Ended June 30, 2016
With no related allowance recorded: |  | Average Recorded Investment |  | Interest Income Recognized (1) |  | Average Recorded Investment |  | Interest Income Recognized (1) |  | Average Recorded Investment |  | Interest Income Recognized (1) |  | Average Recorded Investment |  | Interest Income Recognized (1)
Commercial and agricultural: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 626 |  |  | $ | 8 |  |  | $ | 1,048 |  |  | $ | 12 |  |  | $ | 649 |  |  | $ | 17 |  |  | $ | 1,195 |  |  | $ | 25 |
Commercial mortgages: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction |  | 1,555 |  |  | 3 |  |  | 340 |  |  | 3 |  |  | 1,130 |  |  | 6 |  |  | 343 |  |  | 7 |
Commercial mortgages, other |  | 5,879 |  |  | 32 |  |  | 6,733 |  |  | 59 |  |  | 6,538 |  |  | 90 |  |  | 7,014 |  |  | 121 |
Residential mortgages |  | 417 |  |  | 2 |  |  | 399 |  |  | 1 |  |  | 410 |  |  | 4 |  |  | 344 |  |  | 1 |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity lines & loans |  | 71 |  |  | 1 |  |  | 104 |  |  | 1 |  |  | 79 |  |  | 1 |  |  | 105 |  |  | 3 |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and agricultural: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | 84 |  |  | 1 |  |  | 4 |  |  | — |  |  | 56 |  |  | 1 |  |  | 6 |  |  | — |
Commercial mortgages: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial mortgages, other |  | 4,461 |  |  | 4 |  |  | 4,942 |  |  | 1 |  |  | 3,723 |  |  | 7 |  |  | 4,910 |  |  | 3 |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity lines and loans |  | 180 |  |  | — |  |  | 362 |  |  | — |  |  | 240 |  |  | — |  |  | 363 |  |  | — |
Total |  | $ | 13,273 |  |  | $ | 51 |  |  | $ | 13,932 |  |  | $ | 77 |  |  | $ | 12,825 |  |  | $ | 126 |  |  | $ | 14,280 |  |  | $ | 160 |
(1)Cash basis interest income approximates interest income recognized. The following tables present the recorded investment in non-accrual and loans past due 90 days or more and still accruing by class of loans as of June 30, 2017 and December 31, 2016 (in thousands):
|  | Non-accrual |  | Loans Past Due 90 Days or More and Still Accruing
|  | June 30, 2017 |  | December 31, 2016 |  | June 30, 2017 |  | December 31, 2016
Commercial and agricultural: |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | — |  |  | $ | — |  |  | $ | 9 |  |  | $ | 2 |
Commercial mortgages: |  |  |  |  |  |  |  |
Construction |  | 1,307 |  |  | 19 |  |  | — |  |  | — |
Commercial mortgages, other |  | 8,752 |  |  | 5,454 |  |  | — |  |  | — |
Residential mortgages |  | 3,278 |  |  | 4,201 |  |  | — |  |  | — |
Consumer loans: |  |  |  |  |  |  |  |
Credit cards |  | — |  |  | — |  |  | 27 |  |  | 11 |
Home equity lines and loans |  | 1,181 |  |  | 1,670 |  |  | — |  |  | — |
Indirect consumer loans |  | 673 |  |  | 654 |  |  | — |  |  | — |
Direct consumer loans |  | 17 |  |  | 45 |  |  | — |  |  | — |
Total |  | $ | 15,208 |  |  | $ | 12,043 |  |  | $ | 36 |  |  | $ | 13 |
Recorded investment in past due and non-accrual status by class of loans | The following tables present the aging of the recorded investment in loans as of June 30, 2017 and December 31, 2016 (in thousands):
| June 30, 2017
| 30 - 59 Days Past Due |  | 60 - 89 Days Past Due |  | 90 Days or More Past Due |  | Total Past Due |  | Loans Acquired with Deteriorated Credit Quality |  | Loans Not Past Due |  | Total
Commercial and agricultural: |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial | $ | 6 |  |  | $ | 16 |  |  | $ | 9 |  |  | $ | 31 |  |  | $ | — |  |  | $ | 189,376 |  |  | $ | 189,407 |
Agricultural | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 532 |  |  | 532 |
Commercial mortgages: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction | — |  |  | — |  |  | 1,288 |  |  | 1,288 |  |  | — |  |  | 56,406 |  |  | 57,694 |
Commercial mortgages, other | 493 |  |  | 3,208 |  |  | 2,547 |  |  | 6,248 |  |  | 1,006 |  |  | 541,294 |  |  | 548,548 |
Residential mortgages | 1,373 |  |  | 485 |  |  | 1,766 |  |  | 3,624 |  |  | — |  |  | 197,493 |  |  | 201,117 |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit cards | 6 |  |  | 13 |  |  | 27 |  |  | 46 |  |  | — |  |  | 1,357 |  |  | 1,403 |
Home equity lines and loans | 257 |  |  | 98 |  |  | 760 |  |  | 1,115 |  |  | — |  |  | 96,409 |  |  | 97,524 |
Indirect consumer loans | 1,616 |  |  | 165 |  |  | 384 |  |  | 2,165 |  |  | — |  |  | 140,967 |  |  | 143,132 |
Direct consumer loans | 51 |  |  | 3 |  |  | — |  |  | 54 |  |  | — |  |  | 16,385 |  |  | 16,439 |
Total | $ | 3,802 |  |  | $ | 3,988 |  |  | $ | 6,781 |  |  | $ | 14,571 |  |  | $ | 1,006 |  |  | $ | 1,240,219 |  |  | $ | 1,255,796 |
| December 31, 2016
| 30 - 59 Days Past Due |  | 60 - 89 Days Past Due |  | 90 Days or More Past Due |  | Total Past Due |  | Loans Acquired with Deteriorated Credit Quality |  | Loans Not Past Due |  | Total
Commercial and agricultural: |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial | $ | 160 |  |  | $ | 7 |  |  | $ | 2 |  |  | $ | 169 |  |  | $ | — |  |  | $ | 176,497 |  |  | $ | 176,666 |
Agricultural | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 361 |  |  | 361 |
Commercial mortgages: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction | — |  |  | 1,177 |  |  | — |  |  | 1,177 |  |  | — |  |  | 45,333 |  |  | 46,510 |
Commercial mortgages, other | 652 |  |  | 4,460 |  |  | 2,412 |  |  | 7,524 |  |  | 1,323 |  |  | 514,799 |  |  | 523,646 |
Residential mortgages | 2,100 |  |  | 436 |  |  | 2,383 |  |  | 4,919 |  |  | 95 |  |  | 193,951 |  |  | 198,965 |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit cards | 3 |  |  | 9 |  |  | 11 |  |  | 23 |  |  | — |  |  | 1,453 |  |  | 1,476 |
Home equity lines and loans | 227 |  |  | — |  |  | 1,149 |  |  | 1,376 |  |  | — |  |  | 97,477 |  |  | 98,853 |
Indirect consumer loans | 1,773 |  |  | 287 |  |  | 542 |  |  | 2,602 |  |  | — |  |  | 137,391 |  |  | 139,993 |
Direct consumer loans | 54 |  |  | 7 |  |  | 22 |  |  | 83 |  |  | — |  |  | 16,929 |  |  | 17,012 |
Total | $ | 4,969 |  |  | $ | 6,383 |  |  | $ | 6,521 |  |  | $ | 17,873 |  |  | $ | 1,418 |  |  | $ | 1,184,191 |  |  | $ | 1,203,482 |
Loans by class modified as troubled debt restructurings | The following table presents loans by class modified as TDRs that occurred during the three months ended June 30, 2017 and June 30, 2016 (dollars in thousands):
June 30, 2017 |  | Number of Loans |  | Pre-Modification Outstanding Recorded Investment |  | Post-Modification Outstanding Recorded Investment
Troubled debt restructurings: |  |  |  |  |  |
Commercial and agricultural: |  |  |  |  |  |
Commercial and industrial |  | 3 |  |  | $ | 171 |  |  | $ | 171 |
Residential mortgages |  | 1 |  |  | 105 |  |  | 105 |
Total |  | 4 |  |  | $ | 276 |  |  | $ | 276 |
June 30, 2016 |  | Number of Loans |  | Pre-Modification Outstanding Recorded Investment |  | Post-Modification Outstanding Recorded Investment
Troubled debt restructurings: |  |  |  |  |  |
Commercial mortgages: |  |  |  |  |  |  |  |  |
Commercial mortgages |  | 5 |  |  | $ | 312 |  |  | $ | 310 |
Residential mortgages |  | 1 |  |  | 174 |  |  | 182 |
Consumer loans: |  |  |  |  |  |
Home equity lines and loans |  | 1 |  |  | 74 |  |  | 74 |
Total |  | 7 |  |  | $ | 560 |  |  | $ | 566 |
The TDRs described above increased the allowance for loan losses by $0.1 million and resulted in no charge-offs during the three month period ended June 30, 2017. The TDRs described above did not increase the allowance for loan losses and resulted in no charge-offs during the three months ended June 30, 2016. The following tables presents loans by class modified as TDRs that occurred during the six months ended June 30, 2017 and 2016 (dollars in thousands):
June 30, 2017 |  | Number of Loans |  | Pre-Modification Outstanding Recorded Investment |  | Post-Modification Outstanding Recorded Investment
Troubled debt restructurings: |  |  |  |  |  |
Commercial and agricultural: |  |  |  |  |  |
Commercial and industrial |  | 3 |  |  | $ | 171 |  |  | $ | 171 |
Commercial mortgages: |  |  |  |  |  |  |  |  |
Commercial mortgages |  | 1 |  |  | 166 |  |  | 166 |
Residential mortgages |  | 1 |  |  | 105 |  |  | 105 |
Total |  | 5 |  |  | $ | 442 |  |  | $ | 442 |
June 30, 2016 |  | Number of Loans |  | Pre-Modification Outstanding Recorded Investment |  | Post-Modification Outstanding Recorded Investment
Troubled debt restructurings: |  |  |  |  |  |
Commercial mortgages: |  |  |  |  |  |  |  |  |
Commercial mortgages |  | 5 |  |  | $ | 312 |  |  | $ | 310 |
Residential mortgages |  | 2 |  |  | 295 |  |  | 307 |
Consumer loans: |  |  |  |  |  |
Home equity lines and loans |  | 1 |  |  | 74 |  |  | 74 |
Total |  | 8 |  |  | $ | 681 |  |  | $ | 691 |
The TDRs described above increased the allowance for loan losses by $0.1 million and resulted in no charge-offs during the six months ended June 30, 2017. The TDRs described above did not increase the allowance for loan losses and resulted in no charge-offs during the six months ended June 30, 2016. A loan is considered to be in payment default once it is 90 days contractually past due under the modified terms. There were no payment defaults on any loans previously modified as TDRs within twelve months following the modification during the three and six month periods ended June 30, 2017. There were no payment defaults on any loans previously modified as TDRs within twelve months following the modification during the three months ended June 30, 2016. The following table presents loans by class modified as TDRs for which there was a payment default within twelve months following the modification during the six months ended June 30, 2016:
|  | Number of Loans |  | Recorded Investment
Commercial mortgages: |  |  |  |
Commercial mortgages, other |  | 2 |  | $ | 2,120 |
Total |  | 2 |  | $ | 2,120 |
The TDRs that subsequently defaulted described above did not increase the allowance for loan losses and resulted in no charge offs during the three and six-month periods ended June 30, 2016.
Risk category of the recorded investment of loans by class of loans | Based on the analyses performed as of June 30, 2017 and December 31, 2016, the risk category of the recorded investment of loans by class of loans is as follows (in thousands):
| June 30, 2017
| Not Rated |  | Pass |  | Special Mention |  | Substandard |  | Doubtful |  | Loans acquired with deteriorated credit quality |  | Total
Commercial and agricultural: |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial | $ | — |  |  | $ | 182,211 |  |  | $ | 5,321 |  |  | $ | 1,875 |  |  | $ | — |  |  | $ | — |  |  | $ | 189,407 |
Agricultural | — |  |  | 532 |  |  | — |  |  |  |  |  | — |  |  | — |  |  | 532 |
Commercial mortgages: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction | — |  |  | 56,388 |  |  | — |  |  | 1,306 |  |  | — |  |  | — |  |  | 57,694 |
Commercial mortgages | — |  |  | 522,740 |  |  | 8,058 |  |  | 15,325 |  |  | 1,419 |  |  | 1,006 |  |  | 548,548 |
Residential mortgages | 197,839 |  |  | — |  |  | — |  |  | 3,278 |  |  | — |  |  | — |  |  | 201,117 |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit cards | 1,403 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,403 |
Home equity lines and loans | 96,343 |  |  | — |  |  | — |  |  | 1,181 |  |  | — |  |  | — |  |  | 97,524 |
Indirect consumer loans | 142,459 |  |  | — |  |  | — |  |  | 673 |  |  | — |  |  | — |  |  | 143,132 |
Direct consumer loans | 16,422 |  |  | — |  |  | — |  |  | 17 |  |  | — |  |  | — |  |  | 16,439 |
Total | $ | 454,466 |  |  | $ | 761,871 |  |  | $ | 13,379 |  |  | $ | 23,655 |  |  | $ | 1,419 |  |  | $ | 1,006 |  |  | $ | 1,255,796 |
| December 31, 2016
| Not Rated |  | Pass |  | Special Mention |  | Substandard |  | Doubtful |  | Loans acquired with deteriorated credit quality |  | Total
Commercial and agricultural: |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial | $ | — |  |  | $ | 172,873 |  |  | $ | 2,277 |  |  | $ | 1,516 |  |  | $ | — |  |  | $ | — |  |  | $ | 176,666 |
Agricultural | — |  |  | 361 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 361 |
Commercial mortgages: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction | — |  |  | 45,055 |  |  | 259 |  |  | 1,196 |  |  | — |  |  | — |  |  | 46,510 |
Commercial mortgages | — |  |  | 496,723 |  |  | 8,574 |  |  | 15,566 |  |  | 1,460 |  |  | 1,323 |  |  | 523,646 |
Residential mortgages | 194,669 |  |  | — |  |  | — |  |  | 4,201 |  |  | — |  |  | 95 |  |  | 198,965 |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit cards | 1,476 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,476 |
Home equity lines and loans | 97,183 |  |  | — |  |  | — |  |  | 1,670 |  |  | — |  |  | — |  |  | 98,853 |
Indirect consumer loans | 139,339 |  |  | — |  |  | — |  |  | 654 |  |  | — |  |  | — |  |  | 139,993 |
Direct consumer loans | 16,967 |  |  | — |  |  | — |  |  | 45 |  |  | — |  |  | — |  |  | 17,012 |
Total | $ | 449,634 |  |  | $ | 715,012 |  |  | $ | 11,110 |  |  | $ | 24,848 |  |  | $ | 1,460 |  |  | $ | 1,418 |  |  | $ | 1,203,482 |
Recorded investment in residential and consumer loans based on payment activity | The following table presents the recorded investment in residential and consumer loans based on payment activity as of June 30, 2017 and December 31, 2016 (in thousands):
| June 30, 2017
|  |  | Consumer Loans
| Residential Mortgages |  | Credit Card |  | Home Equity Lines and Loans |  | Indirect Consumer Loans |  | Other Direct Consumer Loans
Performing | $ | 197,839 |  |  | $ | 1,403 |  |  | $ | 96,343 |  |  | $ | 142,459 |  |  | $ | 16,422 |
Non-Performing | 3,278 |  |  | — |  |  | 1,181 |  |  | 673 |  |  | 17 |
| $ | 201,117 |  |  | $ | 1,403 |  |  | $ | 97,524 |  |  | $ | 143,132 |  |  | $ | 16,439 |
| December 31, 2016
|  |  | Consumer Loans
| Residential Mortgages |  | Credit Card |  | Home Equity Lines and Loans |  | Indirect Consumer Loans |  | Other Direct Consumer Loans
Performing | $ | 194,764 |  |  | $ | 1,476 |  |  | $ | 97,183 |  |  | $ | 139,339 |  |  | $ | 16,967 |
Non-Performing | 4,201 |  |  | — |  |  | 1,670 |  |  | 654 |  |  | 45 |
| $ | 198,965 |  |  | $ | 1,476 |  |  | $ | 98,853 |  |  | $ | 139,993 |  |  | $ | 17,012 |
Summary of changes in contractually required principal and interest on loans acquired | The table below summarizes the changes in total contractually required principal and interest cash payments, management’s estimate of expected total cash payments and carrying value of the PCI loans from April 1, 2017 to June 30, 2017 and April 1, 2016 to June 30, 2016 (in thousands):
Three Months Ended June 30, 2017 |  | Balance at March 31, 2017 |  | Income Accretion |  | All Other Adjustments |  | Balance at June 30, 2017
Contractually required principal and interest |  | $ | 1,877 |  |  | $ | — |  |  | $ | (710 | ) |  | $ | 1,167 |
Contractual cash flows not expected to be collected (nonaccretable discount) |  | (352 | ) |  | — |  |  | 319 |  |  | (33 | )
Cash flows expected to be collected |  | 1,525 |  |  | — |  |  | (391 | ) |  | 1,134 |
Interest component of expected cash flows (accretable yield) |  | (155 | ) |  | 25 |  |  | 2 |  |  | (128 | )
Fair value of loans acquired with deteriorating credit quality |  | $ | 1,370 |  |  | $ | 25 |  |  | $ | (389 | ) |  | $ | 1,006 |
Three Months Ended June 30, 2016 |  | Balance at March 31, 2016 |  | Income Accretion |  | All Other Adjustments |  | Balance at June 30, 2016
Contractually required principal and interest |  | $ | 2,858 |  |  | $ | — |  |  | $ | (366 | ) |  | $ | 2,492 |
Contractual cash flows not expected to be collected (nonaccretable discount) |  | (505 | ) |  | — |  |  | 131 |  |  | (374 | )
Cash flows expected to be collected |  | 2,353 |  |  | — |  |  | (235 | ) |  | 2,118 |
Interest component of expected cash flows (accretable yield) |  | (275 | ) |  | 33 |  |  | (1 | ) |  | (243 | )
Fair value of loans acquired with deteriorating credit quality |  | $ | 2,078 |  |  | $ | 33 |  |  | $ | (236 | ) |  | $ | 1,875 |
For those purchased credit impaired loans disclosed above, the Corporation decreased the allowance for loan losses by $54 thousand and $15 thousand during the three months ended June 30, 2017 and 2016, respectively. The Corporation reversed $29 thousand of the allowance for loan losses during the three months ended June 30, 2017. The Corporation did not reverse any allowance for loan losses during the three months ended June 30, 2016. The tables below summarizes the changes in total contractually required principal and interest cash payments, management’s estimate of expected total cash payments and carrying value of the PCI loans from January 1, 2017 to June 30, 2017 and January 1, 2016 to June 30, 2016 (in thousands):
Six Months Ended June 30, 2017 |  | Balance at December 31, 2016 |  | Income Accretion |  | All Other Adjustments |  | Balance at June 30, 2017
Contractually required principal and interest |  | $ | 1,940 |  |  | $ | — |  |  | $ | (773 | ) |  | $ | 1,167 |
Contractual cash flows not expected to be collected (nonaccretable discount) |  | (352 | ) |  | — |  |  | 319 |  |  | (33 | )
Cash flows expected to be collected |  | 1,588 |  |  | — |  |  | (454 | ) |  | 1,134 |
Interest component of expected cash flows (accretable yield) |  | (170 | ) |  | 40 |  |  | 2 |  |  | (128 | )
Fair value of loans acquired with deteriorating credit quality |  | $ | 1,418 |  |  | $ | 40 |  |  | $ | (452 | ) |  | $ | 1,006 |
Six Months Ended June 30, 2016 |  | Balance at December 31, 2015 |  | Income Accretion |  | All Other Adjustments |  | Balance at June 30, 2016
Contractually required principal and interest |  | $ | 2,912 |  |  | $ | — |  |  | $ | (420 | ) |  | $ | 2,492 |
Contractual cash flows not expected to be collected (nonaccretable discount) |  | (506 | ) |  | — |  |  | 132 |  |  | (374 | )
Cash flows expected to be collected |  | 2,406 |  |  | — |  |  | (288 | ) |  | 2,118 |
Interest component of expected cash flows (accretable yield) |  | (311 | ) |  | 70 |  |  | (2 | ) |  | (243 | )
Fair value of loans acquired with deteriorating credit quality |  | $ | 2,095 |  |  | $ | 70 |  |  | $ | (290 | ) |  | $ | 1,875 |

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