Loans and Leases (Tables)
|
6 Months Ended |
Jun. 30, 2018 |
|---|
| Receivables [Abstract] |
|
| Loans Receivable |
Loans and leases receivable consisted of the following as of the dates indicated:
|
|
|
|
|
|
|
|
|
|
June 30, 2018 |
|
December 31, 2017 |
|
(in thousands) |
Real estate loans: |
|
|
|
Commercial property |
|
|
|
Retail |
$ |
923,661 |
|
|
$ |
915,273 |
|
Hospitality |
786,635 |
|
|
681,325 |
|
Other (1)
|
1,469,765 |
|
|
1,417,273 |
|
Total commercial property loans |
3,180,061 |
|
|
3,013,871 |
|
Construction |
61,287 |
|
|
55,190 |
|
Residential property |
539,861 |
|
|
521,853 |
|
Total real estate loans |
3,781,209 |
|
|
3,590,914 |
|
Commercial and industrial loans: |
|
|
|
Commercial term |
185,756 |
|
|
182,685 |
|
Commercial lines of credit |
179,872 |
|
|
181,894 |
|
International loans |
30,894 |
|
|
34,622 |
|
Total commercial and industrial loans |
396,522 |
|
|
399,201 |
|
Leases receivable |
350,578 |
|
|
297,284 |
|
Consumer loans (2)
|
13,817 |
|
|
17,059 |
|
Loans and leases receivable |
4,542,126 |
|
|
4,304,458 |
|
Allowance for loan and lease losses |
(31,818 |
) |
|
(31,043 |
) |
Loans and leases receivable, net |
$ |
4,510,308 |
|
|
$ |
4,273,415 |
|
|
|
(1) |
Includes, among other types, mixed-use, apartment, office, industrial, gas stations, faith-based facilities and warehouse; all other property types represent less than one percent of total loans and leases receivable. |
|
|
(2) |
Consumer loans include home equity lines of credit of $11.5 million and $14.2 million as of June 30, 2018 and December 31, 2017, respectively.
|
|
| Loans Receivable to Loans Held for Sale |
The following is the activity for SBA loans held for sale for the three months ended June 30, 2018 and 2017:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SBA Loans Held for Sale |
|
Real Estate |
|
Commercial and Industrial |
|
Total |
|
(in thousands) |
June 30, 2018 |
|
|
|
|
|
Balance at beginning of period |
$ |
2,151 |
|
|
$ |
3,857 |
|
|
$ |
6,008 |
|
Originations |
10,155 |
|
|
8,407 |
|
|
18,562 |
|
Sales |
(9,519 |
) |
|
(9,585 |
) |
|
(19,104 |
) |
Principal payoffs and amortization |
(2 |
) |
|
(115 |
) |
|
(117 |
) |
Balance at end of period |
$ |
2,785 |
|
|
$ |
2,564 |
|
|
$ |
5,349 |
|
|
|
|
|
|
|
June 30, 2017 |
|
|
|
|
|
Balance at beginning of period |
$ |
7,789 |
|
|
$ |
1,060 |
|
|
$ |
8,849 |
|
Originations |
22,130 |
|
|
12,344 |
|
|
34,474 |
|
Sales |
(21,083 |
) |
|
(11,271 |
) |
|
(32,354 |
) |
Principal payoffs and amortization |
(19 |
) |
|
(1 |
) |
|
(20 |
) |
Balance at end of period |
$ |
8,817 |
|
|
$ |
2,132 |
|
|
$ |
10,949 |
|
The following is the activity for SBA loans held for sale for the six months ended June 30, 2018 and 2017:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SBA Loans Held for Sale |
|
Real Estate |
|
Commercial and Industrial |
|
Total |
|
(in thousands) |
June 30, 2018 |
|
|
|
|
|
Balance at beginning of period |
$ |
3,746 |
|
|
$ |
2,648 |
|
|
$ |
6,394 |
|
Originations |
20,588 |
|
|
16,779 |
|
|
37,367 |
|
Sales |
(21,547 |
) |
|
(16,744 |
) |
|
(38,291 |
) |
Principal payoffs and amortization |
(2 |
) |
|
(119 |
) |
|
(121 |
) |
Balance at end of period |
$ |
2,785 |
|
|
$ |
2,564 |
|
|
$ |
5,349 |
|
|
|
|
|
|
|
June 30, 2017 |
|
|
|
|
|
Balance at beginning of period |
$ |
7,410 |
|
|
$ |
1,906 |
|
|
$ |
9,316 |
|
Originations |
34,763 |
|
|
18,904 |
|
|
53,667 |
|
Sales |
(33,337 |
) |
|
(18,660 |
) |
|
(51,997 |
) |
Principal payoffs and amortization |
(19 |
) |
|
(18 |
) |
|
(37 |
) |
Balance at end of period |
$ |
8,817 |
|
|
$ |
2,132 |
|
|
$ |
10,949 |
|
|
| Allowance for Non-PCI Losses and Allowance for Off-Balance Sheet Items |
Activity in the allowance for loan and lease losses was as follows for the periods indicated:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of and for the Three Months Ended June 30, |
|
As of and for the Six Months Ended June 30, |
|
2018 |
|
2017 |
|
2018 |
|
2017 |
|
(in thousands) |
Allowance for loan and lease losses: |
|
|
|
|
|
|
|
Balance at beginning of period |
$ |
31,777 |
|
|
$ |
33,152 |
|
|
$ |
31,043 |
|
|
$ |
32,429 |
|
|
|
|
|
|
|
|
|
Charge-offs |
(657 |
) |
|
(665 |
) |
|
(2,289 |
) |
|
$ |
(851 |
) |
Recoveries on loans and leases previously charged off |
598 |
|
|
849 |
|
|
2,315 |
|
|
$ |
1,838 |
|
Net (charge-offs) recoveries |
(59 |
) |
|
184 |
|
|
26 |
|
|
987 |
|
|
|
|
|
|
|
|
|
Loan and lease loss provision |
100 |
|
|
422 |
|
|
749 |
|
|
$ |
342 |
|
Balance at end of period |
$ |
31,818 |
|
|
$ |
33,758 |
|
|
$ |
31,818 |
|
|
$ |
33,758 |
|
Activity in the allowance for loan off-balance sheet items was as follows for the periods indicated:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
June 30, |
|
Six Months Ended
June 30, |
|
2018 |
|
2017 |
|
2018 |
|
2017 |
|
(in thousands) |
Balance at beginning of period |
$ |
1,323 |
|
|
$ |
1,184 |
|
|
$ |
1,296 |
|
|
$ |
1,184 |
|
Provision (income) |
34 |
|
|
(49 |
) |
|
61 |
|
|
(49 |
) |
Balance at end of period |
$ |
1,357 |
|
|
$ |
1,135 |
|
|
$ |
1,357 |
|
|
$ |
1,135 |
|
|
| Allowance for Loan Losses by Portfolio Segment |
The following table details the information on the allowance for loan and lease losses by portfolio segment as of and for the three months ended June 30, 2018 and 2017:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate |
|
Commercial
and Industrial
|
|
Leases
Receivable
|
|
Consumer |
|
Unallocated |
|
Total |
|
(In thousands) |
As of and for the Three Months Ended June 30, 2018 |
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan and lease losses on loans and leases: |
|
|
|
|
|
|
|
|
|
|
|
Beginning balance |
$ |
17,640 |
|
|
$ |
6,890 |
|
|
7,110 |
|
|
$ |
125 |
|
|
$ |
12 |
|
|
$ |
31,777 |
|
Charge-offs |
(40 |
) |
|
(86 |
) |
|
(531 |
) |
|
— |
|
|
— |
|
|
(657 |
) |
Recoveries on loans and leases previously charged off |
371 |
|
|
197 |
|
|
29 |
|
|
1 |
|
|
— |
|
|
598 |
|
Loan and lease loss provision (income) |
(55 |
) |
|
119 |
|
|
41 |
|
|
(17 |
) |
|
12 |
|
|
100 |
|
Ending balance |
$ |
17,916 |
|
|
$ |
7,120 |
|
|
$ |
6,649 |
|
|
$ |
109 |
|
|
$ |
24 |
|
|
$ |
31,818 |
|
Individually evaluated for impairment |
$ |
1,540 |
|
|
$ |
578 |
|
|
$ |
1,859 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
3,977 |
|
Collectively evaluated for impairment |
$ |
16,376 |
|
|
$ |
6,542 |
|
|
$ |
4,790 |
|
|
$ |
109 |
|
|
$ |
24 |
|
|
$ |
27,841 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans and leases receivable: |
$ |
3,781,209 |
|
|
$ |
396,522 |
|
|
$ |
350,578 |
|
|
$ |
13,817 |
|
|
$ |
— |
|
|
$ |
4,542,126 |
|
Individually evaluated for impairment |
$ |
18,261 |
|
|
$ |
3,000 |
|
|
$ |
4,801 |
|
|
$ |
877 |
|
|
$ |
— |
|
|
$ |
26,939 |
|
Collectively evaluated for impairment |
$ |
3,762,948 |
|
|
$ |
393,522 |
|
|
$ |
345,777 |
|
|
$ |
12,940 |
|
|
$ |
— |
|
|
$ |
4,515,187 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate |
|
Commercial
and Industrial
|
|
Leases
Receivable
|
|
Consumer |
|
Unallocated |
|
Total |
|
(In thousands) |
As of and for the Three Months Ended June 30, 2017 |
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan and lease losses on loans and leases: |
|
|
|
|
|
|
|
|
|
|
|
Beginning balance |
$ |
25,602 |
|
|
$ |
5,955 |
|
|
980 |
|
|
$ |
130 |
|
|
$ |
485 |
|
|
$ |
33,152 |
|
Charge-offs |
(38 |
) |
|
— |
|
|
(627 |
) |
|
— |
|
|
— |
|
|
(665 |
) |
Recoveries on loans and leases previously charged off |
447 |
|
|
367 |
|
|
20 |
|
|
15 |
|
|
— |
|
|
849 |
|
Loan and lease loss provision (income) |
(2,578 |
) |
|
698 |
|
|
1,660 |
|
|
(50 |
) |
|
692 |
|
|
422 |
|
Ending balance |
$ |
23,433 |
|
|
$ |
7,020 |
|
|
$ |
2,033 |
|
|
$ |
95 |
|
|
$ |
1,177 |
|
|
$ |
33,758 |
|
Individually evaluated for impairment |
$ |
3,638 |
|
|
$ |
1,841 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
5,479 |
|
Collectively evaluated for impairment |
$ |
19,795 |
|
|
$ |
5,179 |
|
|
$ |
2,033 |
|
|
$ |
95 |
|
|
$ |
1,177 |
|
|
$ |
28,279 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans and leases receivable: |
$ |
3,451,025 |
|
|
$ |
347,236 |
|
|
$ |
257,525 |
|
|
$ |
17,276 |
|
|
$ |
— |
|
|
$ |
4,073,062 |
|
Individually evaluated for impairment |
$ |
19,695 |
|
|
$ |
5,275 |
|
|
$ |
— |
|
|
$ |
1,224 |
|
|
$ |
— |
|
|
$ |
26,194 |
|
Collectively evaluated for impairment |
$ |
3,431,330 |
|
|
$ |
341,961 |
|
|
$ |
257,525 |
|
|
$ |
16,052 |
|
|
$ |
— |
|
|
$ |
4,046,868 |
|
The following table details the information on the allowance for loan and lease losses by portfolio segment as of and for the six months ended June 30, 2018 and 2017:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate |
|
Commercial
and Industrial
|
|
Leases
Receivable
|
|
Consumer |
|
Unallocated |
|
Total |
|
(In thousands) |
As of and for the Six Months Ended June 30, 2018 |
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan and lease losses on loans and leases: |
|
|
|
|
|
|
|
|
|
|
|
Beginning balance |
$ |
17,012 |
|
|
$ |
7,400 |
|
|
6,279 |
|
|
$ |
122 |
|
|
$ |
230 |
|
|
$ |
31,043 |
|
Charge-offs |
(1,029 |
) |
|
(365 |
) |
|
(895 |
) |
|
— |
|
|
— |
|
|
(2,289 |
) |
Recoveries on loans and leases previously charged off |
1,256 |
|
|
933 |
|
|
124 |
|
|
2 |
|
|
— |
|
|
2,315 |
|
Loan and lease loss provision (income) |
677 |
|
|
(848 |
) |
|
1,141 |
|
|
(15 |
) |
|
(206 |
) |
|
749 |
|
Ending balance |
$ |
17,916 |
|
|
$ |
7,120 |
|
|
$ |
6,649 |
|
|
$ |
109 |
|
|
$ |
24 |
|
|
$ |
31,818 |
|
Individually evaluated for impairment |
$ |
1,540 |
|
|
$ |
578 |
|
|
$ |
1,859 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
3,977 |
|
Collectively evaluated for impairment |
$ |
16,376 |
|
|
$ |
6,542 |
|
|
$ |
4,790 |
|
|
$ |
109 |
|
|
$ |
24 |
|
|
$ |
27,841 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans and leases receivable: |
$ |
3,781,209 |
|
|
$ |
396,522 |
|
|
$ |
350,578 |
|
|
$ |
13,817 |
|
|
$ |
— |
|
|
$ |
4,542,126 |
|
Individually evaluated for impairment |
$ |
18,261 |
|
|
$ |
3,000 |
|
|
$ |
4,801 |
|
|
$ |
877 |
|
|
$ |
— |
|
|
$ |
26,939 |
|
Collectively evaluated for impairment |
$ |
3,762,948 |
|
|
$ |
393,522 |
|
|
$ |
345,777 |
|
|
$ |
12,940 |
|
|
$ |
— |
|
|
$ |
4,515,187 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate |
|
Commercial
and Industrial
|
|
Leases
Receivable
|
|
Consumer |
|
Unallocated |
|
Total |
|
(In thousands) |
As of and for the Six Months Ended June 30, 2017 |
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan and lease losses on loans and leases: |
|
|
|
|
|
|
|
|
|
|
|
Beginning balance |
$ |
26,134 |
|
|
$ |
5,623 |
|
|
307 |
|
|
$ |
199 |
|
|
$ |
166 |
|
|
$ |
32,429 |
|
Charge-offs |
(142 |
) |
|
(40 |
) |
|
(669 |
) |
|
— |
|
|
— |
|
|
(851 |
) |
Recoveries on loans and leases previously charged off |
1,159 |
|
|
644 |
|
|
20 |
|
|
15 |
|
|
— |
|
|
1,838 |
|
Loan and lease loss provision (income) |
(3,718 |
) |
|
793 |
|
|
2,375 |
|
|
(119 |
) |
|
1,011 |
|
|
342 |
|
Ending balance |
$ |
23,433 |
|
|
$ |
7,020 |
|
|
$ |
2,033 |
|
|
$ |
95 |
|
|
$ |
1,177 |
|
|
$ |
33,758 |
|
Individually evaluated for impairment |
$ |
3,638 |
|
|
$ |
1,841 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
5,479 |
|
Collectively evaluated for impairment |
$ |
19,795 |
|
|
$ |
5,179 |
|
|
$ |
2,033 |
|
|
$ |
95 |
|
|
$ |
1,177 |
|
|
$ |
28,279 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans and leases receivable: |
$ |
3,451,025 |
|
|
$ |
347,236 |
|
|
$ |
257,525 |
|
|
$ |
17,276 |
|
|
$ |
— |
|
|
$ |
4,073,062 |
|
Individually evaluated for impairment |
$ |
19,695 |
|
|
$ |
5,275 |
|
|
$ |
— |
|
|
$ |
1,224 |
|
|
$ |
— |
|
|
$ |
26,194 |
|
Collectively evaluated for impairment |
$ |
3,431,330 |
|
|
$ |
341,961 |
|
|
$ |
257,525 |
|
|
$ |
16,052 |
|
|
$ |
— |
|
|
$ |
4,046,868 |
|
|
| Credit Quality of Loan Portfolio |
As of June 30, 2018 and December 31, 2017, pass/pass-watch, special mention and classified loans and leases, disaggregated by loan class, were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass/Pass-Watch |
|
Special Mention |
|
Classified |
|
Total |
|
(In thousands) |
June 30, 2018 |
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
Retail |
$ |
918,139 |
|
|
$ |
6 |
|
|
$ |
5,516 |
|
|
$ |
923,661 |
|
Hospitality |
774,060 |
|
|
1,435 |
|
|
11,140 |
|
|
786,635 |
|
Other |
1,461,794 |
|
|
1,333 |
|
|
6,638 |
|
|
1,469,765 |
|
Construction |
61,287 |
|
|
— |
|
|
— |
|
|
61,287 |
|
Residential property |
539,715 |
|
|
— |
|
|
146 |
|
|
539,861 |
|
Total real estate loans |
3,754,995 |
|
|
2,774 |
|
|
23,440 |
|
|
3,781,209 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
Commercial term |
177,209 |
|
|
5,775 |
|
|
2,772 |
|
|
185,756 |
|
Commercial lines of credit |
139,740 |
|
|
40,132 |
|
|
— |
|
|
179,872 |
|
International loans |
30,894 |
|
|
— |
|
|
— |
|
|
30,894 |
|
Total commercial and industrial loans |
347,843 |
|
|
45,907 |
|
|
2,772 |
|
|
396,522 |
|
Leases receivable |
345,777 |
|
|
— |
|
|
4,801 |
|
|
350,578 |
|
Consumer loans |
12,804 |
|
|
198 |
|
|
815 |
|
|
13,817 |
|
Total loans and leases |
$ |
4,461,419 |
|
|
$ |
48,879 |
|
|
$ |
31,828 |
|
|
$ |
4,542,126 |
|
|
|
|
|
|
|
|
|
December 31, 2017 |
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
Retail |
$ |
909,682 |
|
|
$ |
454 |
|
|
$ |
5,137 |
|
|
$ |
915,273 |
|
Hospitality |
667,254 |
|
|
4,976 |
|
|
9,095 |
|
|
681,325 |
|
Other |
1,397,658 |
|
|
11,045 |
|
|
8,570 |
|
|
1,417,273 |
|
Construction |
55,190 |
|
|
— |
|
|
— |
|
|
55,190 |
|
Residential property |
521,261 |
|
|
305 |
|
|
287 |
|
|
521,853 |
|
Total real estate loans |
3,551,045 |
|
|
16,780 |
|
|
23,089 |
|
|
3,590,914 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
Commercial term |
179,835 |
|
|
439 |
|
|
2,411 |
|
|
182,685 |
|
Commercial lines of credit |
181,462 |
|
|
250 |
|
|
182 |
|
|
181,894 |
|
International loans |
34,622 |
|
|
— |
|
|
— |
|
|
34,622 |
|
Total commercial and industrial loans |
395,919 |
|
|
689 |
|
|
2,593 |
|
|
399,201 |
|
Leases receivable |
292,832 |
|
|
— |
|
|
4,452 |
|
|
297,284 |
|
Consumer loans |
15,995 |
|
|
— |
|
|
1,064 |
|
|
17,059 |
|
Total loans and leases |
$ |
4,255,791 |
|
|
$ |
17,469 |
|
|
$ |
31,198 |
|
|
$ |
4,304,458 |
|
|
| Analysis of Past Due Loans, Disaggregated by Loan Class |
The following is an aging analysis of loans and leases, disaggregated by loan class, as of the dates indicated:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30-59 Days Past Due |
|
60-89 Days Past Due |
|
90 Days or More Past Due |
|
Total Past Due |
|
Current |
|
Total |
|
(in thousands) |
June 30, 2018 |
|
|
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
|
|
|
|
Retail |
$ |
50 |
|
|
$ |
300 |
|
|
$ |
695 |
|
|
$ |
1,045 |
|
|
$ |
922,616 |
|
|
$ |
923,661 |
|
Hospitality |
1,381 |
|
|
1,588 |
|
|
820 |
|
|
3,789 |
|
|
782,846 |
|
|
786,635 |
|
Other |
3,562 |
|
|
100 |
|
|
831 |
|
|
4,493 |
|
|
1,465,272 |
|
|
1,469,765 |
|
Construction |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
61,287 |
|
|
61,287 |
|
Residential property |
1,643 |
|
|
— |
|
|
— |
|
|
1,643 |
|
|
538,218 |
|
|
539,861 |
|
Total real estate loans |
6,636 |
|
|
1,988 |
|
|
2,346 |
|
|
10,970 |
|
|
3,770,239 |
|
|
3,781,209 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
|
|
|
|
Commercial term |
139 |
|
|
197 |
|
|
363 |
|
|
699 |
|
|
185,057 |
|
|
185,756 |
|
Commercial lines of credit |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
179,872 |
|
|
179,872 |
|
International loans |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
30,894 |
|
|
30,894 |
|
Total commercial and industrial loans |
139 |
|
|
197 |
|
|
363 |
|
|
699 |
|
|
395,823 |
|
|
396,522 |
|
Leases receivable |
2,302 |
|
|
512 |
|
|
3,401 |
|
|
6,215 |
|
|
344,363 |
|
|
350,578 |
|
Consumer loans |
100 |
|
|
— |
|
|
— |
|
|
100 |
|
|
13,717 |
|
|
13,817 |
|
Total loans and leases |
$ |
9,177 |
|
|
$ |
2,697 |
|
|
$ |
6,110 |
|
|
$ |
17,984 |
|
|
$ |
4,524,142 |
|
|
$ |
4,542,126 |
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2017 |
|
|
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
|
|
|
|
Retail |
$ |
96 |
|
|
$ |
15 |
|
|
$ |
630 |
|
|
$ |
741 |
|
|
$ |
914,532 |
|
|
$ |
915,273 |
|
Hospitality |
3,421 |
|
|
168 |
|
|
398 |
|
|
3,987 |
|
|
677,338 |
|
|
681,325 |
|
Other |
1,245 |
|
|
1,333 |
|
|
563 |
|
|
3,141 |
|
|
1,414,132 |
|
|
1,417,273 |
|
Construction |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
55,190 |
|
|
55,190 |
|
Residential property |
609 |
|
|
— |
|
|
— |
|
|
609 |
|
|
521,244 |
|
|
521,853 |
|
Total real estate loans |
5,371 |
|
|
1,516 |
|
|
1,591 |
|
|
8,478 |
|
|
3,582,436 |
|
|
3,590,914 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial term |
430 |
|
|
567 |
|
|
829 |
|
|
1,826 |
|
|
180,859 |
|
|
182,685 |
|
Commercial lines of credit |
250 |
|
|
— |
|
|
182 |
|
|
432 |
|
|
181,462 |
|
|
181,894 |
|
International loans |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
34,622 |
|
|
34,622 |
|
Total commercial and industrial loans |
680 |
|
|
567 |
|
|
1,011 |
|
|
2,258 |
|
|
396,943 |
|
|
399,201 |
|
Leases receivable |
2,295 |
|
|
944 |
|
|
3,554 |
|
|
6,793 |
|
|
290,491 |
|
|
297,284 |
|
Consumer loans |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
17,059 |
|
|
17,059 |
|
Total loans and leases |
$ |
8,346 |
|
|
$ |
3,027 |
|
|
$ |
6,156 |
|
|
$ |
17,529 |
|
|
$ |
4,286,929 |
|
|
$ |
4,304,458 |
|
|
| Information on Impaired Loans, Disaggregated by Loan Class |
The following tables provide information on impaired loans and leases, disaggregated by loan class, as of the dates indicated:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Recorded
Investment |
|
Unpaid
Principal
Balance |
|
With No
Related
Allowance
Recorded |
|
With an
Allowance
Recorded |
|
Related
Allowance |
|
(in thousands) |
June 30, 2018 |
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
|
|
Retail |
$ |
1,715 |
|
|
$ |
1,747 |
|
|
$ |
1,248 |
|
|
$ |
467 |
|
|
$ |
56 |
|
Hospitality |
7,313 |
|
|
8,973 |
|
|
3,434 |
|
|
3,879 |
|
|
1,484 |
|
Other |
7,106 |
|
|
7,709 |
|
|
6,585 |
|
|
521 |
|
|
— |
|
Residential property |
2,127 |
|
|
2,259 |
|
|
2,127 |
|
|
— |
|
|
— |
|
Total real estate loans |
18,261 |
|
|
20,688 |
|
|
13,394 |
|
|
4,867 |
|
|
1,540 |
|
Commercial and industrial loans |
3,000 |
|
|
3,144 |
|
|
785 |
|
|
2,215 |
|
|
578 |
|
Leases receivable |
4,801 |
|
|
4,882 |
|
|
1,018 |
|
|
3,783 |
|
|
1,859 |
|
Consumer loans |
877 |
|
|
1,083 |
|
|
775 |
|
|
102 |
|
|
— |
|
Total loans and leases |
$ |
26,939 |
|
|
$ |
29,797 |
|
|
$ |
15,972 |
|
|
$ |
10,967 |
|
|
$ |
3,977 |
|
|
|
|
|
|
|
|
|
|
|
December 31, 2017 |
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
|
|
Retail |
$ |
1,403 |
|
|
$ |
1,423 |
|
|
$ |
1,246 |
|
|
$ |
157 |
|
|
$ |
1 |
|
Hospitality |
6,184 |
|
|
7,220 |
|
|
2,144 |
|
|
4,040 |
|
|
1,677 |
|
Other |
8,513 |
|
|
9,330 |
|
|
7,569 |
|
|
944 |
|
|
394 |
|
Residential property |
2,563 |
|
|
2,728 |
|
|
824 |
|
|
1,739 |
|
|
21 |
|
Total real estate loans |
18,663 |
|
|
20,701 |
|
|
11,783 |
|
|
6,880 |
|
|
2,093 |
|
Commercial and industrial loans |
3,039 |
|
|
3,081 |
|
|
1,068 |
|
|
1,971 |
|
|
441 |
|
Leases receivable |
4,452 |
|
|
4,626 |
|
|
455 |
|
|
3,997 |
|
|
3,334 |
|
Consumer loans |
1,029 |
|
|
1,215 |
|
|
919 |
|
|
110 |
|
|
10 |
|
Total loans and leases |
$ |
27,183 |
|
|
$ |
29,623 |
|
|
$ |
14,225 |
|
|
$ |
12,958 |
|
|
$ |
5,878 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Six Months Ended |
|
Average Recorded Investment |
|
Interest
Income
Recognized
|
|
Average Recorded Investment |
|
Interest
Income
Recognized
|
|
(in thousands) |
June 30, 2018 |
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
Retail |
$ |
1,728 |
|
|
$ |
26 |
|
|
$ |
1,568 |
|
|
$ |
48 |
|
Hospitality |
7,667 |
|
|
131 |
|
|
7,886 |
|
|
272 |
|
Other |
7,562 |
|
|
133 |
|
|
7,702 |
|
|
243 |
|
Residential property |
2,260 |
|
|
27 |
|
|
2,420 |
|
|
57 |
|
Total real estate loans |
19,217 |
|
|
317 |
|
|
19,576 |
|
|
620 |
|
Commercial and industrial loans |
3,063 |
|
|
39 |
|
|
2,989 |
|
|
79 |
|
Leases receivable |
5,188 |
|
|
12 |
|
|
4,896 |
|
|
22 |
|
Consumer loans |
1,027 |
|
|
14 |
|
|
1,037 |
|
|
28 |
|
Total loans and leases |
$ |
28,495 |
|
|
$ |
382 |
|
|
$ |
28,498 |
|
|
$ |
749 |
|
|
|
|
|
|
|
|
|
June 30, 2017 |
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
Retail |
$ |
1,500 |
|
|
$ |
29 |
|
|
$ |
1,584 |
|
|
$ |
61 |
|
Hospitality |
6,074 |
|
|
99 |
|
|
6,164 |
|
|
167 |
|
Other |
9,392 |
|
|
215 |
|
|
9,776 |
|
|
398 |
|
Residential property |
2,823 |
|
|
28 |
|
|
2,798 |
|
|
61 |
|
Total real estate loans |
19,789 |
|
|
371 |
|
|
20,322 |
|
|
687 |
|
Commercial and industrial loans |
5,329 |
|
|
68 |
|
|
4,611 |
|
|
126 |
|
Consumer loans |
1,226 |
|
|
3 |
|
|
775 |
|
|
6 |
|
Total loans and leases |
$ |
26,344 |
|
|
$ |
442 |
|
|
$ |
25,708 |
|
|
$ |
819 |
|
|
| Summary of Interest Foregone on Impaired Loans |
The following is a summary of interest foregone on impaired loans and leases for the periods indicated:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
June 30, |
|
Six Months Ended
June 30, |
|
2018 |
|
2017 |
|
2018 |
|
2017 |
|
(in thousands) |
Interest income that would have been recognized had impaired loans and leases performed in accordance with their original terms |
$ |
678 |
|
|
$ |
622 |
|
|
$ |
1,332 |
|
|
$ |
1,213 |
|
Less: Interest income recognized on impaired loans and leases |
(382 |
) |
|
(442 |
) |
|
(749 |
) |
|
(819 |
) |
Interest foregone on impaired loans and leases |
$ |
296 |
|
|
$ |
180 |
|
|
$ |
583 |
|
|
$ |
394 |
|
|
| Non-Accrual Loans, Disaggregated by Loan Class |
The following table details nonaccrual loans and leases, excluding nonaccrual PCI loans of $1.7 million and $0.9 million as of June 30, 2018 and December 31, 2017, respectively, disaggregated by loan class, as of the dates indicated:
|
|
|
|
|
|
|
|
|
|
June 30, 2018 |
|
December 31, 2017 |
|
(in thousands) |
Real estate loans: |
|
|
|
Commercial property |
|
|
|
Retail |
$ |
225 |
|
|
$ |
224 |
|
Hospitality |
6,563 |
|
|
5,263 |
|
Other |
1,184 |
|
|
2,462 |
|
Residential property |
146 |
|
|
591 |
|
Total real estate loans |
8,118 |
|
|
8,540 |
|
Commercial and industrial loans |
2,110 |
|
|
1,892 |
|
Leases receivable |
4,801 |
|
|
4,452 |
|
Consumer loans |
775 |
|
|
921 |
|
Total nonaccrual loans and leases |
$ |
15,804 |
|
|
$ |
15,805 |
|
|
| Non-Performing Assets |
The following table details nonperforming assets as of the dates indicated:
|
|
|
|
|
|
|
|
|
|
June 30, 2018 |
|
December 31, 2017 |
|
(in thousands) |
Nonaccrual loans and leases |
$ |
15,804 |
|
|
$ |
15,805 |
|
Loans and leases 90 days or more past due and still accruing |
— |
|
|
— |
|
Total nonperforming loans and leases |
15,804 |
|
|
15,805 |
|
Other real estate owned ("OREO") |
280 |
|
|
1,946 |
|
Total nonperforming assets |
$ |
16,084 |
|
|
$ |
17,751 |
|
|
| Troubled Debt Restructurings, Disaggregated by Type of Concession and by Loan Type |
The following table details TDRs as of June 30, 2018 and December 31, 2017:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonaccrual TDRs |
|
Accrual TDRs |
|
Deferral
of
Principal |
|
Deferral
of
Principal
and
Interest |
|
Reduction
of
Principal
and
Interest |
|
Extension
of
Maturity |
|
Total |
|
Deferral
of
Principal |
|
Deferral
of
Principal
and
Interest |
|
Reduction
of
Principal
and
Interest |
|
Extension
of
Maturity |
|
Total |
|
(in thousands) |
June 30, 2018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans |
$ |
1,467 |
|
|
$ |
3,642 |
|
|
$ |
183 |
|
|
$ |
— |
|
|
$ |
5,292 |
|
|
$ |
3,397 |
|
|
$ |
— |
|
|
$ |
1,171 |
|
|
$ |
1,023 |
|
|
$ |
5,591 |
|
Commercial and industrial loans |
399 |
|
|
107 |
|
|
715 |
|
|
467 |
|
|
1,688 |
|
|
— |
|
|
177 |
|
|
443 |
|
|
246 |
|
|
866 |
|
Consumer loans |
775 |
|
|
— |
|
|
— |
|
|
— |
|
|
775 |
|
|
— |
|
|
— |
|
|
102 |
|
|
— |
|
|
102 |
|
Total TDR loans |
$ |
2,641 |
|
|
$ |
3,749 |
|
|
$ |
898 |
|
|
$ |
467 |
|
|
$ |
7,755 |
|
|
$ |
3,397 |
|
|
$ |
177 |
|
|
$ |
1,716 |
|
|
$ |
1,269 |
|
|
$ |
6,559 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2017 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans |
$ |
1,935 |
|
|
$ |
3,761 |
|
|
$ |
64 |
|
|
$ |
— |
|
|
$ |
5,760 |
|
|
$ |
3,409 |
|
|
$ |
— |
|
|
$ |
1,387 |
|
|
$ |
1,237 |
|
|
$ |
6,033 |
|
Commercial and industrial loans |
131 |
|
|
123 |
|
|
1,173 |
|
|
102 |
|
|
1,529 |
|
|
6 |
|
|
182 |
|
|
503 |
|
|
427 |
|
|
1,118 |
|
Consumer loans |
811 |
|
|
— |
|
|
— |
|
|
— |
|
|
811 |
|
|
— |
|
|
— |
|
|
108 |
|
|
— |
|
|
108 |
|
Total TDR loans |
$ |
2,877 |
|
|
$ |
3,884 |
|
|
$ |
1,237 |
|
|
$ |
102 |
|
|
$ |
8,100 |
|
|
$ |
3,415 |
|
|
$ |
182 |
|
|
$ |
1,998 |
|
|
$ |
1,664 |
|
|
$ |
7,259 |
|
|