Loans and Leases (Tables)
|
6 Months Ended |
Jun. 30, 2019 |
|---|
| Receivables [Abstract] |
|
| Loans Receivable |
Loans and leases receivable consisted of the following as of the dates indicated:
|
|
|
|
|
|
|
|
|
|
June 30, 2019 |
|
December 31, 2018 |
|
(in thousands) |
Real estate loans: |
|
|
|
Commercial property |
|
|
|
Retail |
$ |
873,682 |
|
|
$ |
906,260 |
|
Hospitality |
855,853 |
|
|
830,679 |
|
Other (1)
|
1,418,146 |
|
|
1,449,270 |
|
Total commercial property loans |
3,147,681 |
|
|
3,186,209 |
|
Construction |
65,454 |
|
|
71,583 |
|
Residential property |
458,328 |
|
|
500,563 |
|
Total real estate loans |
3,671,463 |
|
|
3,758,355 |
|
Commercial and industrial loans: |
|
|
|
Commercial term |
195,312 |
|
|
206,691 |
|
Commercial lines of credit |
186,103 |
|
|
194,032 |
|
International loans |
28,087 |
|
|
29,180 |
|
Total commercial and industrial loans |
409,502 |
|
|
429,903 |
|
Leases receivable |
460,519 |
|
|
398,858 |
|
Consumer loans (2)
|
14,318 |
|
|
13,424 |
|
Loans and leases receivable |
4,555,802 |
|
|
4,600,540 |
|
Allowance for loan and lease losses |
(49,386 |
) |
|
(31,974 |
) |
Loans and leases receivable, net |
$ |
4,506,416 |
|
|
$ |
4,568,566 |
|
|
|
(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 $9.4 million and $10.3 million as of June 30, 2019 and December 31, 2018, 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, 2019 and 2018:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SBA Loans Held for Sale |
|
Real Estate |
|
Commercial and Industrial |
|
Total |
|
(in thousands) |
June 30, 2019 |
|
|
|
|
|
Balance at beginning of period |
$ |
6,500 |
|
|
$ |
640 |
|
|
$ |
7,140 |
|
Originations |
6,650 |
|
|
7,650 |
|
|
14,300 |
|
Sales |
(10,474 |
) |
|
(4,937 |
) |
|
(15,411 |
) |
Balance at end of period |
$ |
2,676 |
|
|
$ |
3,353 |
|
|
$ |
6,029 |
|
|
|
|
|
|
|
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 paydowns and amortization |
(2 |
) |
|
(115 |
) |
|
(117 |
) |
Balance at end of period |
$ |
2,785 |
|
|
$ |
2,564 |
|
|
$ |
5,349 |
|
The following is the activity for SBA loans held for sale for the six months ended June 30, 2019 and 2018:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SBA Loans Held for Sale |
|
Real Estate |
|
Commercial and Industrial |
|
Total |
|
(in thousands) |
June 30, 2019 |
|
|
|
|
|
Balance at beginning of period |
$ |
5,194 |
|
|
$ |
4,196 |
|
|
$ |
9,390 |
|
Originations |
15,713 |
|
|
11,810 |
|
|
27,523 |
|
Sales |
(18,229 |
) |
|
(12,641 |
) |
|
(30,870 |
) |
Principal paydowns and amortization |
(2 |
) |
|
(12 |
) |
|
(14 |
) |
Balance at end of period |
$ |
2,676 |
|
|
$ |
3,353 |
|
|
$ |
6,029 |
|
|
|
|
|
|
|
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 paydowns and amortization |
(2 |
) |
|
(119 |
) |
|
(121 |
) |
Balance at end of period |
$ |
2,785 |
|
|
$ |
2,564 |
|
|
$ |
5,349 |
|
|
| 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, |
|
2019 |
|
2018 |
|
2019 |
|
2018 |
|
(in thousands) |
Balance at beginning of period |
$ |
32,896 |
|
|
$ |
31,777 |
|
|
$ |
31,974 |
|
|
$ |
31,043 |
|
Loans and leases charged off |
(1,536 |
) |
|
(657 |
) |
|
(2,634 |
) |
|
$ |
(2,289 |
) |
Recoveries on loans and leases previously charged off |
1,327 |
|
|
598 |
|
|
2,230 |
|
|
$ |
2,315 |
|
Net (charge-offs) recoveries |
(209 |
) |
|
(59 |
) |
|
(404 |
) |
|
26 |
|
Loan and lease loss provision |
16,699 |
|
|
100 |
|
|
17,816 |
|
|
$ |
749 |
|
Balance at end of period |
$ |
49,386 |
|
|
$ |
31,818 |
|
|
$ |
49,386 |
|
|
$ |
31,818 |
|
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, |
|
2019 |
|
2018 |
|
2019 |
|
2018 |
|
(in thousands) |
Balance at beginning of period |
$ |
1,100 |
|
|
$ |
1,323 |
|
|
$ |
1,439 |
|
|
$ |
1,296 |
|
Provision (income) |
233 |
|
|
34 |
|
|
(106 |
) |
|
61 |
|
Balance at end of period |
$ |
1,333 |
|
|
$ |
1,357 |
|
|
$ |
1,333 |
|
|
$ |
1,357 |
|
|
| 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, 2019 and 2018:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate |
|
Commercial
and Industrial
|
|
Leases
Receivable
|
|
Consumer |
|
Unallocated |
|
Total |
|
(in thousands) |
As of and for the Three Months Ended June 30, 2019 |
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan and lease losses on loans and leases: |
|
|
|
|
|
|
|
|
|
|
|
Beginning balance |
$ |
18,306 |
|
|
$ |
8,711 |
|
|
5,580 |
|
|
$ |
89 |
|
|
$ |
210 |
|
|
$ |
32,896 |
|
Less loans and leases charged off |
— |
|
|
(562 |
) |
|
(974 |
) |
|
— |
|
|
— |
|
|
(1,536 |
) |
Recoveries on loans and leases previously charged off |
1,133 |
|
|
89 |
|
|
105 |
|
|
— |
|
|
— |
|
|
1,327 |
|
Loan and lease loss provision |
14,565 |
|
|
997 |
|
|
1,357 |
|
|
(10 |
) |
|
(210 |
) |
|
16,699 |
|
Ending balance |
$ |
34,004 |
|
|
$ |
9,235 |
|
|
$ |
6,068 |
|
|
$ |
79 |
|
|
$ |
— |
|
|
$ |
49,386 |
|
Individually evaluated for impairment |
$ |
14,724 |
|
|
$ |
3,072 |
|
|
$ |
662 |
|
|
$ |
1 |
|
|
$ |
— |
|
|
$ |
18,459 |
|
Collectively evaluated for impairment |
$ |
19,280 |
|
|
$ |
6,163 |
|
|
$ |
5,406 |
|
|
$ |
78 |
|
|
$ |
— |
|
|
$ |
30,927 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans and leases receivable: |
$ |
3,671,463 |
|
|
$ |
409,502 |
|
|
$ |
460,519 |
|
|
$ |
14,318 |
|
|
$ |
— |
|
|
$ |
4,555,802 |
|
Individually evaluated for impairment |
$ |
39,885 |
|
|
$ |
21,706 |
|
|
$ |
3,233 |
|
|
$ |
1,351 |
|
|
$ |
— |
|
|
$ |
66,175 |
|
Collectively evaluated for impairment |
$ |
3,631,578 |
|
|
$ |
387,796 |
|
|
$ |
457,286 |
|
|
$ |
12,967 |
|
|
$ |
— |
|
|
$ |
4,489,627 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
Less loans and leases charged off |
(40 |
) |
|
(86 |
) |
|
(531 |
) |
|
— |
|
|
— |
|
|
(657 |
) |
Recoveries on loans and leases previously charged off |
371 |
|
|
197 |
|
|
29 |
|
|
1 |
|
|
— |
|
|
598 |
|
Loan and lease loss provision |
(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 |
|
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, 2019 and 2018:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate |
|
Commercial
and Industrial
|
|
Leases
Receivable
|
|
Consumer |
|
Unallocated |
|
Total |
|
(in thousands) |
As of and for the Six Months Ended June 30, 2019 |
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan and lease losses on loans and leases: |
|
|
|
|
|
|
|
|
|
|
|
Beginning balance |
$ |
18,384 |
|
|
$ |
7,162 |
|
|
6,303 |
|
|
$ |
98 |
|
|
$ |
27 |
|
|
$ |
31,974 |
|
Less loans and leases charged off |
(113 |
) |
|
(695 |
) |
|
(1,826 |
) |
|
— |
|
|
— |
|
|
(2,634 |
) |
Recoveries on loans and leases previously charged off |
1,563 |
|
|
471 |
|
|
196 |
|
|
— |
|
|
— |
|
|
2,230 |
|
Loan and lease loss provision |
14,170 |
|
|
2,297 |
|
|
1,395 |
|
|
(19 |
) |
|
(27 |
) |
|
17,816 |
|
Ending balance |
$ |
34,004 |
|
|
$ |
9,235 |
|
|
$ |
6,068 |
|
|
$ |
79 |
|
|
$ |
— |
|
|
$ |
49,386 |
|
Individually evaluated for impairment |
$ |
14,724 |
|
|
$ |
3,072 |
|
|
$ |
662 |
|
|
$ |
1 |
|
|
$ |
— |
|
|
$ |
18,459 |
|
Collectively evaluated for impairment |
$ |
19,280 |
|
|
$ |
6,163 |
|
|
$ |
5,406 |
|
|
$ |
78 |
|
|
$ |
— |
|
|
$ |
30,927 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans and leases receivable: |
$ |
3,671,463 |
|
|
$ |
409,502 |
|
|
$ |
460,519 |
|
|
$ |
14,318 |
|
|
$ |
— |
|
|
$ |
4,555,802 |
|
Individually evaluated for impairment |
$ |
39,885 |
|
|
$ |
21,706 |
|
|
$ |
3,233 |
|
|
$ |
1,351 |
|
|
$ |
— |
|
|
$ |
66,175 |
|
Collectively evaluated for impairment |
$ |
3,631,578 |
|
|
$ |
387,796 |
|
|
$ |
457,286 |
|
|
$ |
12,967 |
|
|
$ |
— |
|
|
$ |
4,489,627 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
Less loans and leases charged off |
(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 |
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 |
|
|
| Credit Quality of Loan Portfolio |
As of June 30, 2019 and December 31, 2018, 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, 2019 |
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
Retail |
$ |
862,505 |
|
|
$ |
6,255 |
|
|
$ |
4,922 |
|
|
$ |
873,682 |
|
Hospitality |
850,004 |
|
|
2 |
|
|
5,847 |
|
|
855,853 |
|
Other |
1,405,239 |
|
|
2,658 |
|
|
10,249 |
|
|
1,418,146 |
|
Total commercial property loans |
3,117,748 |
|
|
8,915 |
|
|
21,018 |
|
|
3,147,681 |
|
Construction |
29,774 |
|
|
7,744 |
|
|
27,936 |
|
|
65,454 |
|
Residential property |
456,708 |
|
|
802 |
|
|
817 |
|
|
458,327 |
|
Total real estate loans |
3,604,230 |
|
|
17,461 |
|
|
49,771 |
|
|
3,671,462 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
Commercial term |
177,389 |
|
|
386 |
|
|
17,537 |
|
|
195,312 |
|
Commercial lines of credit |
176,466 |
|
|
5,241 |
|
|
4,396 |
|
|
186,103 |
|
International loans |
28,087 |
|
|
— |
|
|
— |
|
|
28,087 |
|
Total commercial and industrial loans |
381,942 |
|
|
5,627 |
|
|
21,933 |
|
|
409,502 |
|
Leases receivable |
457,286 |
|
|
— |
|
|
3,233 |
|
|
460,519 |
|
Consumer loans |
12,838 |
|
|
732 |
|
|
749 |
|
|
14,319 |
|
Total loans and leases receivable |
$ |
4,456,296 |
|
|
$ |
23,820 |
|
|
$ |
75,686 |
|
|
$ |
4,555,802 |
|
|
|
|
|
|
|
|
|
December 31, 2018 |
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
Retail |
$ |
901,354 |
|
|
$ |
16 |
|
|
$ |
4,890 |
|
|
$ |
906,260 |
|
Hospitality |
821,542 |
|
|
168 |
|
|
8,969 |
|
|
830,679 |
|
Other |
1,441,219 |
|
|
2,723 |
|
|
5,328 |
|
|
1,449,270 |
|
Total commercial property loans |
3,164,115 |
|
|
2,907 |
|
|
19,187 |
|
|
3,186,209 |
|
Construction |
71,583 |
|
|
— |
|
|
— |
|
|
71,583 |
|
Residential property |
500,424 |
|
|
— |
|
|
139 |
|
|
500,563 |
|
Total real estate loans |
3,736,122 |
|
|
2,907 |
|
|
19,326 |
|
|
3,758,355 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
Commercial term |
197,992 |
|
|
4,977 |
|
|
3,722 |
|
|
206,691 |
|
Commercial lines of credit |
172,338 |
|
|
21,107 |
|
|
587 |
|
|
194,032 |
|
International loans |
29,180 |
|
|
— |
|
|
— |
|
|
29,180 |
|
Total commercial and industrial loans |
399,510 |
|
|
26,084 |
|
|
4,309 |
|
|
429,903 |
|
Leases receivable |
393,729 |
|
|
— |
|
|
5,129 |
|
|
398,858 |
|
Consumer loans |
12,454 |
|
|
191 |
|
|
779 |
|
|
13,424 |
|
Total loans and leases receivable |
$ |
4,541,815 |
|
|
$ |
29,182 |
|
|
$ |
29,543 |
|
|
$ |
4,600,540 |
|
|
| 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, 2019 |
|
|
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
|
|
|
|
Retail |
$ |
66 |
|
|
$ |
153 |
|
|
$ |
84 |
|
|
$ |
303 |
|
|
$ |
873,379 |
|
|
$ |
873,682 |
|
Hospitality |
941 |
|
|
147 |
|
|
1,020 |
|
|
2,108 |
|
|
853,745 |
|
|
855,853 |
|
Other |
644 |
|
|
5 |
|
|
871 |
|
|
1,520 |
|
|
1,416,626 |
|
|
1,418,146 |
|
Total commercial property loans |
1,651 |
|
|
305 |
|
|
1,975 |
|
|
3,931 |
|
|
3,143,750 |
|
|
3,147,681 |
|
Construction |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
65,454 |
|
|
65,454 |
|
Residential property |
2,240 |
|
|
1,849 |
|
|
40 |
|
|
4,129 |
|
|
454,198 |
|
|
458,327 |
|
Total real estate loans |
3,891 |
|
|
2,154 |
|
|
2,015 |
|
|
8,060 |
|
|
3,663,402 |
|
|
3,671,462 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
|
|
|
|
Commercial term |
253 |
|
|
233 |
|
|
16 |
|
|
502 |
|
|
194,810 |
|
|
195,312 |
|
Commercial lines of credit |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
186,103 |
|
|
186,103 |
|
International loans |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
28,087 |
|
|
28,087 |
|
Total commercial and industrial loans |
253 |
|
|
233 |
|
|
16 |
|
|
502 |
|
|
409,000 |
|
|
409,502 |
|
Leases receivable |
4,948 |
|
|
1,097 |
|
|
1,755 |
|
|
7,800 |
|
|
452,719 |
|
|
460,519 |
|
Consumer loans |
82 |
|
|
— |
|
|
— |
|
|
82 |
|
|
14,237 |
|
|
14,319 |
|
Total loans and leases receivable |
$ |
9,174 |
|
|
$ |
3,484 |
|
|
$ |
3,786 |
|
|
$ |
16,444 |
|
|
$ |
4,539,358 |
|
|
$ |
4,555,802 |
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2018 |
|
|
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
|
|
|
|
Retail |
$ |
221 |
|
|
$ |
— |
|
|
$ |
986 |
|
|
$ |
1,207 |
|
|
$ |
905,053 |
|
|
$ |
906,260 |
|
Hospitality |
65 |
|
|
1,203 |
|
|
1,893 |
|
|
3,161 |
|
|
827,518 |
|
|
830,679 |
|
Other |
816 |
|
|
206 |
|
|
1,205 |
|
|
2,227 |
|
|
1,447,043 |
|
|
1,449,270 |
|
Total commercial property loans |
1,102 |
|
|
1,409 |
|
|
4,084 |
|
|
6,595 |
|
|
3,179,614 |
|
|
3,186,209 |
|
Construction |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
71,583 |
|
|
71,583 |
|
Residential property |
3,947 |
|
|
273 |
|
|
44 |
|
|
4,264 |
|
|
496,299 |
|
|
500,563 |
|
Total real estate loans |
5,049 |
|
|
1,682 |
|
|
4,128 |
|
|
10,859 |
|
|
3,747,496 |
|
|
3,758,355 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial term |
334 |
|
|
49 |
|
|
1,117 |
|
|
1,500 |
|
|
205,191 |
|
|
206,691 |
|
Commercial lines of credit |
— |
|
|
— |
|
|
587 |
|
|
587 |
|
|
193,445 |
|
|
194,032 |
|
International loans |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
29,180 |
|
|
29,180 |
|
Total commercial and industrial loans |
334 |
|
|
49 |
|
|
1,704 |
|
|
2,087 |
|
|
427,816 |
|
|
429,903 |
|
Leases receivable |
4,681 |
|
|
845 |
|
|
3,737 |
|
|
9,263 |
|
|
389,595 |
|
|
398,858 |
|
Consumer loans |
146 |
|
|
— |
|
|
— |
|
|
146 |
|
|
13,278 |
|
|
13,424 |
|
Total loans and leases receivable |
$ |
10,210 |
|
|
$ |
2,576 |
|
|
$ |
9,569 |
|
|
$ |
22,355 |
|
|
$ |
4,578,185 |
|
|
$ |
4,600,540 |
|
|
| 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, 2019 |
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
|
|
Retail |
$ |
951 |
|
|
$ |
996 |
|
|
$ |
800 |
|
|
$ |
151 |
|
|
$ |
1 |
|
Hospitality |
1,454 |
|
|
1,842 |
|
|
1,454 |
|
|
— |
|
|
— |
|
Other |
8,093 |
|
|
8,432 |
|
|
7,884 |
|
|
209 |
|
|
15 |
|
Total commercial property loans |
10,498 |
|
|
11,270 |
|
|
10,138 |
|
|
360 |
|
|
16 |
|
Construction |
27,936 |
|
|
28,000 |
|
|
— |
|
|
27,936 |
|
|
14,708 |
|
Residential property |
1,451 |
|
|
1,596 |
|
|
1,451 |
|
|
— |
|
|
— |
|
Total real estate loans |
39,885 |
|
|
40,866 |
|
|
11,589 |
|
|
28,296 |
|
|
14,724 |
|
Commercial and industrial loans |
21,706 |
|
|
21,910 |
|
|
1,136 |
|
|
20,570 |
|
|
3,072 |
|
Leases receivable |
3,233 |
|
|
3,292 |
|
|
873 |
|
|
2,360 |
|
|
662 |
|
Consumer loans |
1,351 |
|
|
1,613 |
|
|
1,267 |
|
|
84 |
|
|
1 |
|
Total |
$ |
66,175 |
|
|
$ |
67,681 |
|
|
$ |
14,865 |
|
|
$ |
51,310 |
|
|
$ |
18,459 |
|
|
|
|
|
|
|
|
|
|
|
December 31, 2018 |
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
|
|
Retail |
$ |
2,166 |
|
|
$ |
2,207 |
|
|
$ |
1,894 |
|
|
$ |
272 |
|
|
$ |
— |
|
Hospitality |
4,282 |
|
|
5,773 |
|
|
4,032 |
|
|
250 |
|
|
— |
|
Other |
7,525 |
|
|
8,016 |
|
|
6,253 |
|
|
1,272 |
|
|
1 |
|
Total commercial property loans |
13,973 |
|
|
15,996 |
|
|
12,179 |
|
|
1,794 |
|
|
1 |
|
Residential property |
788 |
|
|
929 |
|
|
788 |
|
|
— |
|
|
— |
|
Total real estate loans |
14,761 |
|
|
16,925 |
|
|
12,967 |
|
|
1,794 |
|
|
1 |
|
Commercial and industrial loans |
4,396 |
|
|
4,601 |
|
|
1,644 |
|
|
2,752 |
|
|
428 |
|
Leases receivable |
5,129 |
|
|
5,162 |
|
|
1,256 |
|
|
3,873 |
|
|
1,383 |
|
Consumer loans |
839 |
|
|
1,073 |
|
|
746 |
|
|
93 |
|
|
— |
|
Total |
$ |
25,125 |
|
|
$ |
27,761 |
|
|
$ |
16,613 |
|
|
$ |
8,512 |
|
|
$ |
1,812 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Six Months Ended |
|
Average Recorded Investment |
|
Interest
Income
Recognized
|
|
Average Recorded Investment |
|
Interest
Income
Recognized
|
|
(in thousands) |
June 30, 2019 |
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
Retail |
$ |
955 |
|
|
$ |
11 |
|
|
$ |
978 |
|
|
$ |
27 |
|
Hospitality |
1,570 |
|
|
80 |
|
|
2,468 |
|
|
152 |
|
Other |
8,320 |
|
|
119 |
|
|
8,688 |
|
|
260 |
|
Total commercial property loans |
10,845 |
|
|
210 |
|
|
12,134 |
|
|
439 |
|
Construction |
18,667 |
|
|
249 |
|
|
9,333 |
|
|
249 |
|
Residential property |
1,577 |
|
|
16 |
|
|
1,378 |
|
|
28 |
|
Total real estate loans |
31,089 |
|
|
475 |
|
|
22,845 |
|
|
716 |
|
Commercial and industrial loans |
22,623 |
|
|
191 |
|
|
24,883 |
|
|
601 |
|
Leases receivable |
3,455 |
|
|
6 |
|
|
4,375 |
|
|
13 |
|
Consumer loans |
1,501 |
|
|
24 |
|
|
1,512 |
|
|
48 |
|
Total |
$ |
58,668 |
|
|
$ |
696 |
|
|
$ |
53,615 |
|
|
$ |
1,378 |
|
|
|
|
|
|
|
|
|
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 |
|
Total commercial property loans |
16,957 |
|
|
290 |
|
|
17,156 |
|
|
563 |
|
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 |
$ |
28,495 |
|
|
$ |
382 |
|
|
$ |
28,498 |
|
|
$ |
749 |
|
|
| 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, |
|
2019 |
|
2018 |
|
2019 |
|
2018 |
|
(in thousands) |
Interest income that would have been recognized had impaired loans and leases performed in accordance with their original terms |
$ |
1,120 |
|
|
$ |
678 |
|
|
$ |
2,009 |
|
|
$ |
1,332 |
|
Less: Interest income recognized on impaired loans and leases |
(696 |
) |
|
(382 |
) |
|
(1,378 |
) |
|
(749 |
) |
Interest foregone on impaired loans and leases |
$ |
424 |
|
|
$ |
296 |
|
|
$ |
631 |
|
|
$ |
583 |
|
|
| Non-Accrual Loans, Disaggregated by Loan Class |
The following table details nonaccrual loans and leases, disaggregated by loan class, as of the dates indicated:
|
|
|
|
|
|
|
|
|
|
June 30, 2019 |
|
December 31, 2018 |
|
(in thousands) |
Real estate loans: |
|
|
|
Commercial property |
|
|
|
Retail |
$ |
800 |
|
|
$ |
865 |
|
Hospitality |
1,442 |
|
|
3,625 |
|
Other |
6,587 |
|
|
1,641 |
|
Total commercial property loans |
8,829 |
|
|
6,131 |
|
Construction |
27,936 |
|
|
— |
|
Residential property |
858 |
|
|
182 |
|
Total real estate loans |
37,623 |
|
|
6,313 |
|
Commercial and industrial loans |
21,457 |
|
|
3,337 |
|
Leases receivable |
3,233 |
|
|
5,129 |
|
Consumer loans |
718 |
|
|
746 |
|
Total nonaccrual loans and leases |
$ |
63,031 |
|
|
$ |
15,525 |
|
|
| Non-Performing Assets |
The following table details nonperforming assets as of the dates indicated:
|
|
|
|
|
|
|
|
|
|
June 30, 2019 |
|
December 31, 2018 |
|
(in thousands) |
Nonaccrual loans and leases |
$ |
63,031 |
|
|
$ |
15,525 |
|
Loans and leases 90 days or more past due and still accruing |
— |
|
|
4 |
|
Total nonperforming loans and leases |
63,031 |
|
|
15,529 |
|
Other real estate owned (“OREO”) |
507 |
|
|
663 |
|
Total nonperforming assets |
$ |
63,538 |
|
|
$ |
16,192 |
|
|
| Troubled Debt Restructurings, Disaggregated by Type of Concession and by Loan Type |
The following table details TDRs loans as of June 30, 2019 and December 31, 2018:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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, 2019 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans |
$ |
934 |
|
|
$ |
153 |
|
|
$ |
28,083 |
|
|
$ |
757 |
|
|
$ |
29,927 |
|
|
$ |
2,098 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
2,098 |
|
Commercial and industrial loans |
250 |
|
|
160 |
|
|
12,743 |
|
|
334 |
|
|
13,487 |
|
|
— |
|
|
— |
|
|
100 |
|
|
149 |
|
|
249 |
|
Consumer loans |
718 |
|
|
— |
|
|
— |
|
|
— |
|
|
718 |
|
|
549 |
|
|
— |
|
|
84 |
|
|
— |
|
|
633 |
|
Total |
$ |
1,902 |
|
|
$ |
313 |
|
|
$ |
40,826 |
|
|
$ |
1,091 |
|
|
$ |
44,132 |
|
|
$ |
2,647 |
|
|
$ |
— |
|
|
$ |
184 |
|
|
$ |
149 |
|
|
$ |
2,980 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans |
$ |
462 |
|
|
$ |
1,423 |
|
|
$ |
174 |
|
|
$ |
— |
|
|
$ |
2,059 |
|
|
$ |
3,345 |
|
|
$ |
— |
|
|
$ |
1,148 |
|
|
$ |
741 |
|
|
$ |
5,234 |
|
Commercial and industrial loans |
265 |
|
|
107 |
|
|
669 |
|
|
430 |
|
|
1,471 |
|
|
— |
|
|
166 |
|
|
386 |
|
|
150 |
|
|
702 |
|
Consumer loans |
746 |
|
|
— |
|
|
— |
|
|
— |
|
|
746 |
|
|
— |
|
|
— |
|
|
93 |
|
|
— |
|
|
93 |
|
Total |
$ |
1,473 |
|
|
$ |
1,530 |
|
|
$ |
843 |
|
|
$ |
430 |
|
|
$ |
4,276 |
|
|
$ |
3,345 |
|
|
$ |
166 |
|
|
$ |
1,627 |
|
|
$ |
891 |
|
|
$ |
6,029 |
|
|