Loans and Leases (Tables)
|
9 Months Ended |
Sep. 30, 2018 |
|---|
| Receivables [Abstract] |
|
| Loans Receivable |
Loans and leases receivable consisted of the following as of the dates indicated:
|
|
|
|
|
|
|
|
|
|
September 30, 2018 |
|
December 31, 2017 |
|
(in thousands) |
Real estate loans: |
|
|
|
Commercial property |
|
|
|
Retail |
$ |
924,007 |
|
|
$ |
915,273 |
|
Hospitality |
809,287 |
|
|
681,325 |
|
Other (1)
|
1,474,406 |
|
|
1,417,273 |
|
Total commercial property loans |
3,207,700 |
|
|
3,013,871 |
|
Construction |
67,682 |
|
|
55,190 |
|
Residential property |
516,968 |
|
|
521,853 |
|
Total real estate loans |
3,792,350 |
|
|
3,590,914 |
|
Commercial and industrial loans: |
|
|
|
Commercial term |
186,249 |
|
|
182,685 |
|
Commercial lines of credit |
178,570 |
|
|
181,894 |
|
International loans |
31,564 |
|
|
34,622 |
|
Total commercial and industrial loans |
396,383 |
|
|
399,201 |
|
Leases receivable |
379,455 |
|
|
297,284 |
|
Consumer loans (2)
|
14,695 |
|
|
17,059 |
|
Loans and leases receivable |
4,582,883 |
|
|
4,304,458 |
|
Allowance for loan and lease losses |
(31,676 |
) |
|
(31,043 |
) |
Loans and leases receivable, net |
$ |
4,551,207 |
|
|
$ |
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 $10.9 million and $14.2 million as of September 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 September 30, 2018 and 2017:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SBA Loans Held for Sale |
|
Real Estate |
|
Commercial and Industrial |
|
Total |
|
(in thousands) |
September 30, 2018 |
|
|
|
|
|
Balance at beginning of period |
$ |
2,785 |
|
|
$ |
2,564 |
|
|
$ |
5,349 |
|
Originations |
5,408 |
|
|
13,469 |
|
|
18,877 |
|
Sales |
(6,453 |
) |
|
(13,299 |
) |
|
(19,752 |
) |
Principal payoffs and amortization |
(3 |
) |
|
(16 |
) |
|
(19 |
) |
Balance at end of period |
$ |
1,737 |
|
|
$ |
2,718 |
|
|
$ |
4,455 |
|
|
|
|
|
|
|
September 30, 2017 |
|
|
|
|
|
Balance at beginning of period |
$ |
8,817 |
|
|
$ |
2,132 |
|
|
$ |
10,949 |
|
Originations |
16,326 |
|
|
11,723 |
|
|
28,049 |
|
Sales |
(20,593 |
) |
|
(11,926 |
) |
|
(32,519 |
) |
Principal payoffs and amortization |
(4 |
) |
|
(6 |
) |
|
(10 |
) |
Balance at end of period |
$ |
4,546 |
|
|
$ |
1,923 |
|
|
$ |
6,469 |
|
The following is the activity for SBA loans held for sale for the nine months ended September 30, 2018 and 2017:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SBA Loans Held for Sale |
|
Real Estate |
|
Commercial and Industrial |
|
Total |
|
(in thousands) |
September 30, 2018 |
|
|
|
|
|
Balance at beginning of period |
$ |
3,746 |
|
|
$ |
2,648 |
|
|
$ |
6,394 |
|
Originations |
25,996 |
|
|
30,248 |
|
|
56,244 |
|
Sales |
(28,000 |
) |
|
(30,043 |
) |
|
(58,043 |
) |
Principal payoffs and amortization |
(5 |
) |
|
(135 |
) |
|
(140 |
) |
Balance at end of period |
$ |
1,737 |
|
|
$ |
2,718 |
|
|
$ |
4,455 |
|
|
|
|
|
|
|
September 30, 2017 |
|
|
|
|
|
Balance at beginning of period |
$ |
7,410 |
|
|
$ |
1,906 |
|
|
$ |
9,316 |
|
Originations |
51,090 |
|
|
30,626 |
|
|
81,716 |
|
Sales |
(53,930 |
) |
|
(30,586 |
) |
|
(84,516 |
) |
Principal payoffs and amortization |
(24 |
) |
|
(23 |
) |
|
(47 |
) |
Balance at end of period |
$ |
4,546 |
|
|
$ |
1,923 |
|
|
$ |
6,469 |
|
|
| 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 September 30, |
|
As of and for the Nine Months Ended September 30, |
|
2018 |
|
2017 |
|
2018 |
|
2017 |
|
(in thousands) |
Allowance for loan and lease losses: |
|
|
|
|
|
|
|
Balance at beginning of period |
$ |
31,818 |
|
|
$ |
33,758 |
|
|
$ |
31,043 |
|
|
$ |
32,429 |
|
|
|
|
|
|
|
|
|
Charge-offs |
(1,246 |
) |
|
(2,405 |
) |
|
(3,535 |
) |
|
$ |
(3,256 |
) |
Recoveries on loans and leases previously charged off |
904 |
|
|
871 |
|
|
3,219 |
|
|
$ |
2,709 |
|
Net charge-offs |
(342 |
) |
|
(1,534 |
) |
|
(316 |
) |
|
(547 |
) |
|
|
|
|
|
|
|
|
Loan and lease loss provision |
200 |
|
|
268 |
|
|
949 |
|
|
$ |
610 |
|
Balance at end of period |
$ |
31,676 |
|
|
$ |
32,492 |
|
|
$ |
31,676 |
|
|
$ |
32,492 |
|
Activity in the allowance for loan off-balance sheet items was as follows for the periods indicated:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
September 30, |
|
Nine Months Ended
September 30, |
|
2018 |
|
2017 |
|
2018 |
|
2017 |
|
(in thousands) |
Balance at beginning of period |
$ |
1,357 |
|
|
$ |
1,135 |
|
|
$ |
1,296 |
|
|
$ |
1,184 |
|
Provision (income) |
— |
|
|
(220 |
) |
|
61 |
|
|
(269 |
) |
Balance at end of period |
$ |
1,357 |
|
|
$ |
915 |
|
|
$ |
1,357 |
|
|
$ |
915 |
|
|
| 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 September 30, 2018 and 2017:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate |
|
Commercial
and Industrial
|
|
Leases
Receivable
|
|
Consumer |
|
Unallocated |
|
Total |
|
(In thousands) |
As of and for the Three Months Ended September 30, 2018 |
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan and lease losses on loans and leases: |
|
|
|
|
|
|
|
|
|
|
|
Beginning balance |
$ |
17,916 |
|
|
$ |
7,120 |
|
|
6,649 |
|
|
$ |
109 |
|
|
$ |
24 |
|
|
$ |
31,818 |
|
Charge-offs |
(220 |
) |
|
(232 |
) |
|
(794 |
) |
|
— |
|
|
— |
|
|
(1,246 |
) |
Recoveries on loans and leases previously charged off |
577 |
|
|
237 |
|
|
90 |
|
|
— |
|
|
— |
|
|
904 |
|
Loan and lease loss provision (income) |
(184 |
) |
|
(38 |
) |
|
446 |
|
|
— |
|
|
(24 |
) |
|
200 |
|
Ending balance |
$ |
18,089 |
|
|
$ |
7,087 |
|
|
$ |
6,391 |
|
|
$ |
109 |
|
|
$ |
— |
|
|
$ |
31,676 |
|
Individually evaluated for impairment |
$ |
2,428 |
|
|
$ |
631 |
|
|
$ |
1,763 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
4,822 |
|
Collectively evaluated for impairment |
$ |
15,661 |
|
|
$ |
6,456 |
|
|
$ |
4,628 |
|
|
$ |
109 |
|
|
$ |
— |
|
|
$ |
26,854 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans and leases receivable: |
$ |
3,792,350 |
|
|
$ |
396,383 |
|
|
$ |
379,455 |
|
|
$ |
14,695 |
|
|
$ |
— |
|
|
$ |
4,582,883 |
|
Individually evaluated for impairment |
$ |
20,596 |
|
|
$ |
3,767 |
|
|
$ |
5,093 |
|
|
$ |
881 |
|
|
$ |
— |
|
|
$ |
30,337 |
|
Collectively evaluated for impairment |
$ |
3,771,754 |
|
|
$ |
392,616 |
|
|
$ |
374,362 |
|
|
$ |
13,814 |
|
|
$ |
— |
|
|
$ |
4,552,546 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate |
|
Commercial
and Industrial
|
|
Leases
Receivable
|
|
Consumer |
|
Unallocated |
|
Total |
|
(In thousands) |
As of and for the Three Months Ended September 30, 2017 |
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan and lease losses on loans and leases: |
|
|
|
|
|
|
|
|
|
|
|
Beginning balance |
$ |
23,433 |
|
|
$ |
7,020 |
|
|
2,033 |
|
|
$ |
95 |
|
|
$ |
1,177 |
|
|
$ |
33,758 |
|
Charge-offs |
(146 |
) |
|
(1,976 |
) |
|
(283 |
) |
|
— |
|
|
— |
|
|
(2,405 |
) |
Recoveries on loans and leases previously charged off |
343 |
|
|
308 |
|
|
220 |
|
|
— |
|
|
— |
|
|
871 |
|
Loan and lease loss provision (income) |
(3,293 |
) |
|
1,183 |
|
|
2,867 |
|
|
(30 |
) |
|
(459 |
) |
|
268 |
|
Ending balance |
$ |
20,337 |
|
|
$ |
6,535 |
|
|
$ |
4,837 |
|
|
$ |
65 |
|
|
$ |
718 |
|
|
$ |
32,492 |
|
Individually evaluated for impairment |
$ |
3,882 |
|
|
$ |
531 |
|
|
$ |
2,008 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
6,421 |
|
Collectively evaluated for impairment |
$ |
16,455 |
|
|
$ |
6,004 |
|
|
$ |
2,829 |
|
|
$ |
65 |
|
|
$ |
718 |
|
|
$ |
26,071 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans and leases receivable: |
$ |
3,539,558 |
|
|
$ |
364,456 |
|
|
$ |
272,271 |
|
|
$ |
19,070 |
|
|
$ |
— |
|
|
$ |
4,195,355 |
|
Individually evaluated for impairment |
$ |
19,466 |
|
|
$ |
3,610 |
|
|
$ |
3,378 |
|
|
$ |
1,045 |
|
|
$ |
— |
|
|
$ |
27,499 |
|
Collectively evaluated for impairment |
$ |
3,520,092 |
|
|
$ |
360,846 |
|
|
$ |
268,893 |
|
|
$ |
18,025 |
|
|
$ |
— |
|
|
$ |
4,167,856 |
|
The following table details the information on the allowance for loan and lease losses by portfolio segment as of and for the nine months ended September 30, 2018 and 2017:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate |
|
Commercial
and Industrial
|
|
Leases
Receivable
|
|
Consumer |
|
Unallocated |
|
Total |
|
(In thousands) |
As of and for the Nine Months Ended September 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 |
(1,249 |
) |
|
(597 |
) |
|
(1,689 |
) |
|
— |
|
|
— |
|
|
(3,535 |
) |
Recoveries on loans and leases previously charged off |
1,833 |
|
|
1,170 |
|
|
214 |
|
|
2 |
|
|
— |
|
|
3,219 |
|
Loan and lease loss provision (income) |
493 |
|
|
(886 |
) |
|
1,587 |
|
|
(15 |
) |
|
(230 |
) |
|
949 |
|
Ending balance |
$ |
18,089 |
|
|
$ |
7,087 |
|
|
$ |
6,391 |
|
|
$ |
109 |
|
|
$ |
— |
|
|
$ |
31,676 |
|
Individually evaluated for impairment |
$ |
2,428 |
|
|
$ |
631 |
|
|
$ |
1,763 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
4,822 |
|
Collectively evaluated for impairment |
$ |
15,661 |
|
|
$ |
6,456 |
|
|
$ |
4,628 |
|
|
$ |
109 |
|
|
$ |
— |
|
|
$ |
26,854 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans and leases receivable: |
$ |
3,792,350 |
|
|
$ |
396,383 |
|
|
$ |
379,455 |
|
|
$ |
14,695 |
|
|
$ |
— |
|
|
$ |
4,582,883 |
|
Individually evaluated for impairment |
$ |
20,596 |
|
|
$ |
3,767 |
|
|
$ |
5,093 |
|
|
$ |
881 |
|
|
$ |
— |
|
|
$ |
30,337 |
|
Collectively evaluated for impairment |
$ |
3,771,754 |
|
|
$ |
392,616 |
|
|
$ |
374,362 |
|
|
$ |
13,814 |
|
|
$ |
— |
|
|
$ |
4,552,546 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate |
|
Commercial
and Industrial
|
|
Leases
Receivable
|
|
Consumer |
|
Unallocated |
|
Total |
|
(In thousands) |
As of and for the Nine Months Ended September 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 |
(289 |
) |
|
(2,017 |
) |
|
(950 |
) |
|
— |
|
|
— |
|
|
(3,256 |
) |
Recoveries on loans and leases previously charged off |
1,434 |
|
|
1,021 |
|
|
239 |
|
|
15 |
|
|
— |
|
|
2,709 |
|
Loan and lease loss provision (income) |
(6,942 |
) |
|
1,908 |
|
|
5,241 |
|
|
(149 |
) |
|
552 |
|
|
610 |
|
Ending balance |
$ |
20,337 |
|
|
$ |
6,535 |
|
|
$ |
4,837 |
|
|
$ |
65 |
|
|
$ |
718 |
|
|
$ |
32,492 |
|
Individually evaluated for impairment |
$ |
3,882 |
|
|
$ |
531 |
|
|
$ |
2,008 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
6,421 |
|
Collectively evaluated for impairment |
$ |
16,455 |
|
|
$ |
6,004 |
|
|
$ |
2,829 |
|
|
$ |
65 |
|
|
$ |
718 |
|
|
$ |
26,071 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans and leases receivable: |
$ |
3,539,558 |
|
|
$ |
364,456 |
|
|
$ |
272,271 |
|
|
$ |
19,070 |
|
|
$ |
— |
|
|
$ |
4,195,355 |
|
Individually evaluated for impairment |
$ |
19,466 |
|
|
$ |
3,610 |
|
|
$ |
3,378 |
|
|
$ |
1,045 |
|
|
$ |
— |
|
|
$ |
27,499 |
|
Collectively evaluated for impairment |
$ |
3,520,092 |
|
|
$ |
360,846 |
|
|
$ |
268,893 |
|
|
$ |
18,025 |
|
|
$ |
— |
|
|
$ |
4,167,856 |
|
|
| Credit Quality of Loan Portfolio |
As of September 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) |
September 30, 2018 |
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
Retail |
$ |
917,990 |
|
|
$ |
9 |
|
|
$ |
6,008 |
|
|
$ |
924,007 |
|
Hospitality |
797,772 |
|
|
10 |
|
|
11,505 |
|
|
809,287 |
|
Other |
1,465,285 |
|
|
2,996 |
|
|
6,125 |
|
|
1,474,406 |
|
Total commercial property loans |
3,181,047 |
|
|
3,015 |
|
|
23,638 |
|
|
3,207,700 |
|
Construction |
67,682 |
|
|
— |
|
|
— |
|
|
67,682 |
|
Residential property |
516,826 |
|
|
— |
|
|
142 |
|
|
516,968 |
|
Total real estate loans |
3,765,555 |
|
|
3,015 |
|
|
23,780 |
|
|
3,792,350 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
Commercial term |
177,342 |
|
|
5,366 |
|
|
3,541 |
|
|
186,249 |
|
Commercial lines of credit |
149,071 |
|
|
29,499 |
|
|
— |
|
|
178,570 |
|
International loans |
31,564 |
|
|
— |
|
|
— |
|
|
31,564 |
|
Total commercial and industrial loans |
357,977 |
|
|
34,865 |
|
|
3,541 |
|
|
396,383 |
|
Leases receivable |
374,362 |
|
|
— |
|
|
5,093 |
|
|
379,455 |
|
Consumer loans |
13,716 |
|
|
195 |
|
|
784 |
|
|
14,695 |
|
Total loans and leases |
$ |
4,511,610 |
|
|
$ |
38,075 |
|
|
$ |
33,198 |
|
|
$ |
4,582,883 |
|
|
|
|
|
|
|
|
|
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 |
|
Total commercial property loans |
2,974,594 |
|
|
16,475 |
|
|
22,802 |
|
|
3,013,871 |
|
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) |
September 30, 2018 |
|
|
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
|
|
|
|
Retail |
$ |
221 |
|
|
$ |
765 |
|
|
$ |
359 |
|
|
$ |
1,345 |
|
|
$ |
922,662 |
|
|
$ |
924,007 |
|
Hospitality |
— |
|
|
— |
|
|
2,314 |
|
|
2,314 |
|
|
806,973 |
|
|
809,287 |
|
Other |
37 |
|
|
609 |
|
|
1,411 |
|
|
2,057 |
|
|
1,472,349 |
|
|
1,474,406 |
|
Total commercial property loans |
258 |
|
|
1,374 |
|
|
4,084 |
|
|
5,716 |
|
|
3,201,984 |
|
|
3,207,700 |
|
Construction |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
67,682 |
|
|
67,682 |
|
Residential property |
2,210 |
|
|
682 |
|
|
— |
|
|
2,892 |
|
|
514,076 |
|
|
516,968 |
|
Total real estate loans |
2,468 |
|
|
2,056 |
|
|
4,084 |
|
|
8,608 |
|
|
3,783,742 |
|
|
3,792,350 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
|
|
|
|
Commercial term |
256 |
|
|
144 |
|
|
1,397 |
|
|
1,797 |
|
|
184,452 |
|
|
186,249 |
|
Commercial lines of credit |
587 |
|
|
— |
|
|
— |
|
|
587 |
|
|
177,983 |
|
|
178,570 |
|
International loans |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
31,564 |
|
|
31,564 |
|
Total commercial and industrial loans |
843 |
|
|
144 |
|
|
1,397 |
|
|
2,384 |
|
|
393,999 |
|
|
396,383 |
|
Leases receivable |
2,815 |
|
|
666 |
|
|
3,390 |
|
|
6,871 |
|
|
372,584 |
|
|
379,455 |
|
Consumer loans |
105 |
|
|
— |
|
|
— |
|
|
105 |
|
|
14,590 |
|
|
14,695 |
|
Total loans and leases |
$ |
6,231 |
|
|
$ |
2,866 |
|
|
$ |
8,871 |
|
|
$ |
17,968 |
|
|
$ |
4,564,915 |
|
|
$ |
4,582,883 |
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
Total commercial property loans |
4,762 |
|
|
1,516 |
|
|
1,591 |
|
|
7,869 |
|
|
3,006,002 |
|
|
3,013,871 |
|
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) |
September 30, 2018 |
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
|
|
Retail |
$ |
3,108 |
|
|
$ |
3,621 |
|
|
$ |
2,772 |
|
|
$ |
336 |
|
|
$ |
54 |
|
Hospitality |
6,860 |
|
|
8,208 |
|
|
2,441 |
|
|
4,419 |
|
|
2,284 |
|
Other |
8,793 |
|
|
9,522 |
|
|
7,151 |
|
|
1,642 |
|
|
90 |
|
Total commercial property loans |
18,761 |
|
|
21,351 |
|
|
12,364 |
|
|
6,397 |
|
|
2,428 |
|
Residential property |
1,835 |
|
|
1,968 |
|
|
1,835 |
|
|
— |
|
|
— |
|
Total real estate loans |
20,596 |
|
|
23,319 |
|
|
14,199 |
|
|
6,397 |
|
|
2,428 |
|
Commercial and industrial loans |
3,767 |
|
|
3,928 |
|
|
765 |
|
|
3,002 |
|
|
631 |
|
Leases receivable |
5,093 |
|
|
5,138 |
|
|
1,095 |
|
|
3,998 |
|
|
1,763 |
|
Consumer loans |
881 |
|
|
1,117 |
|
|
761 |
|
|
120 |
|
|
— |
|
Total loans and leases |
$ |
30,337 |
|
|
$ |
33,502 |
|
|
$ |
16,820 |
|
|
$ |
13,517 |
|
|
$ |
4,822 |
|
|
|
|
|
|
|
|
|
|
|
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 |
|
Total commercial property loans |
16,100 |
|
|
17,973 |
|
|
10,959 |
|
|
5,141 |
|
|
2,072 |
|
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 |
|
Nine Months Ended |
|
Average Recorded Investment |
|
Interest
Income
Recognized
|
|
Average Recorded Investment |
|
Interest
Income
Recognized
|
|
(in thousands) |
September 30, 2018 |
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
Retail |
$ |
2,671 |
|
|
$ |
93 |
|
|
$ |
1,936 |
|
|
$ |
141 |
|
Hospitality |
7,146 |
|
|
104 |
|
|
7,639 |
|
|
376 |
|
Other |
8,659 |
|
|
187 |
|
|
8,021 |
|
|
430 |
|
Total commercial property loans |
18,476 |
|
|
384 |
|
|
17,596 |
|
|
947 |
|
Residential property |
1,966 |
|
|
23 |
|
|
2,269 |
|
|
80 |
|
Total real estate loans |
20,442 |
|
|
407 |
|
|
19,865 |
|
|
1,027 |
|
Commercial and industrial loans |
3,819 |
|
|
40 |
|
|
3,266 |
|
|
119 |
|
Leases receivable |
5,424 |
|
|
11 |
|
|
5,072 |
|
|
33 |
|
Consumer loans |
1,018 |
|
|
17 |
|
|
1,031 |
|
|
45 |
|
Total loans and leases |
$ |
30,703 |
|
|
$ |
475 |
|
|
$ |
29,234 |
|
|
$ |
1,224 |
|
|
|
|
|
|
|
|
|
September 30, 2017 |
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
Retail |
$ |
1,487 |
|
|
$ |
24 |
|
|
$ |
1,551 |
|
|
$ |
85 |
|
Hospitality |
6,476 |
|
|
143 |
|
|
6,268 |
|
|
309 |
|
Other |
9,489 |
|
|
202 |
|
|
9,681 |
|
|
601 |
|
Total commercial property loans |
17,452 |
|
|
369 |
|
|
17,500 |
|
|
995 |
|
Residential property |
2,794 |
|
|
26 |
|
|
2,797 |
|
|
87 |
|
Total real estate loans |
20,246 |
|
|
395 |
|
|
20,297 |
|
|
1,082 |
|
Commercial and industrial loans |
4,555 |
|
|
54 |
|
|
4,592 |
|
|
181 |
|
Leases receivable |
3,560 |
|
|
12 |
|
|
4,044 |
|
|
36 |
|
Consumer loans |
1,201 |
|
|
15 |
|
|
917 |
|
|
21 |
|
Total loans and leases |
$ |
29,562 |
|
|
$ |
476 |
|
|
$ |
29,850 |
|
|
$ |
1,320 |
|
|
| 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
September 30, |
|
Nine Months Ended
September 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 |
$ |
819 |
|
|
$ |
696 |
|
|
$ |
2,150 |
|
|
$ |
1,934 |
|
Less: Interest income recognized on impaired loans and leases |
(475 |
) |
|
(476 |
) |
|
(1,224 |
) |
|
(1,320 |
) |
Interest foregone on impaired loans and leases |
$ |
344 |
|
|
$ |
220 |
|
|
$ |
926 |
|
|
$ |
614 |
|
|
| Non-Accrual Loans, Disaggregated by Loan Class |
The following table details nonaccrual loans and leases, excluding nonaccrual PCI loans of $1.6 million and $0.9 million as of September 30, 2018 and December 31, 2017, respectively, disaggregated by loan class, as of the dates indicated:
|
|
|
|
|
|
|
|
|
|
September 30, 2018 |
|
December 31, 2017 |
|
(in thousands) |
Real estate loans: |
|
|
|
Commercial property |
|
|
|
Retail |
$ |
987 |
|
|
$ |
224 |
|
Hospitality |
6,121 |
|
|
5,263 |
|
Other |
2,205 |
|
|
2,462 |
|
Total commercial property loans |
9,313 |
|
|
7,949 |
|
Residential property |
142 |
|
|
591 |
|
Total real estate loans |
9,455 |
|
|
8,540 |
|
Commercial and industrial loans |
2,974 |
|
|
1,892 |
|
Leases receivable |
5,093 |
|
|
4,452 |
|
Consumer loans |
761 |
|
|
921 |
|
Total nonaccrual loans and leases |
$ |
18,283 |
|
|
$ |
15,805 |
|
|
| Non-Performing Assets |
The following table details nonperforming assets as of the dates indicated:
|
|
|
|
|
|
|
|
|
|
September 30, 2018 |
|
December 31, 2017 |
|
(in thousands) |
Nonaccrual loans and leases |
$ |
18,283 |
|
|
$ |
15,805 |
|
Loans and leases 90 days or more past due and still accruing |
— |
|
|
— |
|
Total nonperforming loans and leases |
18,283 |
|
|
15,805 |
|
Other real estate owned ("OREO") |
877 |
|
|
1,946 |
|
Total nonperforming assets |
$ |
19,160 |
|
|
$ |
17,751 |
|
|
| Troubled Debt Restructurings, Disaggregated by Type of Concession and by Loan Type |
The following table details TDRs as of September 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) |
September 30, 2018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans |
$ |
1,136 |
|
|
$ |
3,560 |
|
|
$ |
178 |
|
|
$ |
— |
|
|
$ |
4,874 |
|
|
$ |
3,387 |
|
|
$ |
— |
|
|
$ |
1,160 |
|
|
$ |
746 |
|
|
$ |
5,293 |
|
Commercial and industrial loans |
394 |
|
|
107 |
|
|
690 |
|
|
448 |
|
|
1,639 |
|
|
— |
|
|
172 |
|
|
415 |
|
|
191 |
|
|
778 |
|
Consumer loans |
761 |
|
|
— |
|
|
— |
|
|
— |
|
|
761 |
|
|
— |
|
|
— |
|
|
97 |
|
|
— |
|
|
97 |
|
Total TDR loans |
$ |
2,291 |
|
|
$ |
3,667 |
|
|
$ |
868 |
|
|
$ |
448 |
|
|
$ |
7,274 |
|
|
$ |
3,387 |
|
|
$ |
172 |
|
|
$ |
1,672 |
|
|
$ |
937 |
|
|
$ |
6,168 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
|