Loans Receivable (Tables)
|
12 Months Ended |
Dec. 31, 2020 |
|---|
| Receivables [Abstract] |
|
| Loans Receivable |
Loans receivable consisted of the following as of the dates indicated:
|
|
|
December 31,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
|
|
(in thousands)
|
|
|
Real estate loans:
|
|
|
|
|
|
|
|
|
|
Commercial property
|
|
|
|
|
|
|
|
|
|
Retail
|
|
$
|
824,606
|
|
|
$
|
869,302
|
|
|
Hospitality
|
|
|
859,953
|
|
|
|
922,288
|
|
|
Other (1)
|
|
|
1,610,377
|
|
|
|
1,358,432
|
|
|
Total commercial property loans
|
|
|
3,294,936
|
|
|
|
3,150,022
|
|
|
Construction
|
|
|
58,882
|
|
|
|
76,455
|
|
|
Residential/consumer loans
|
|
|
345,831
|
|
|
|
415,698
|
|
|
Total real estate loans
|
|
|
3,699,649
|
|
|
|
3,642,175
|
|
|
Commercial and industrial loans
|
|
|
757,255
|
|
|
|
484,093
|
|
|
Leases receivable
|
|
|
423,264
|
|
|
|
483,879
|
|
|
Loans receivable
|
|
|
4,880,168
|
|
|
|
4,610,147
|
|
|
Allowance for credit losses
|
|
|
(90,426
|
)
|
|
|
(61,408
|
)
|
|
Loans receivable, net
|
|
$
|
4,789,742
|
|
|
$
|
4,548,739
|
|
|
(1)
|
Includes, among other property types, mixed-use, gas station, apartment, office, industrial, faith-based facilities and warehouse; the remaining real estate categories represent less than one percent of the Bank's total loans receivable.
|
|
| Information on SBA Loans Held for Sale |
The following table details the information on SBA loans held for sale by portfolio segment for the years ended December 31, 2020 and 2019:
|
|
|
Real Estate
|
|
|
Commercial
and Industrial
|
|
|
Total
|
|
|
|
|
(in thousands)
|
|
|
December 31, 2020
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at beginning of period
|
|
$
|
2,943
|
|
|
$
|
3,077
|
|
|
$
|
6,020
|
|
|
Originations and transfers
|
|
|
44,770
|
|
|
|
26,922
|
|
|
|
71,692
|
|
|
Sales
|
|
|
(39,666
|
)
|
|
|
(29,386
|
)
|
|
|
(69,052
|
)
|
|
Principal paydowns and amortization
|
|
|
(5
|
)
|
|
|
(87
|
)
|
|
|
(92
|
)
|
|
Balance at end of period
|
|
$
|
8,042
|
|
|
$
|
526
|
|
|
$
|
8,568
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at beginning of period
|
|
$
|
5,194
|
|
|
$
|
4,196
|
|
|
$
|
9,390
|
|
|
Originations and transfers
|
|
|
43,001
|
|
|
|
33,764
|
|
|
|
76,765
|
|
|
Sales
|
|
|
(45,251
|
)
|
|
|
(34,865
|
)
|
|
|
(80,116
|
)
|
|
Principal paydowns and amortization
|
|
|
(1
|
)
|
|
|
(18
|
)
|
|
|
(19
|
)
|
|
Balance at end of period
|
|
$
|
2,943
|
|
|
$
|
3,077
|
|
|
$
|
6,020
|
|
|
| Allowance for Credit Losses |
Activity in the allowance for credit losses was as follows for the periods indicated:
|
|
|
As of and for the Year Ended December 31,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
2018
|
|
|
|
|
(in thousands)
|
|
|
Allowance for credit losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at beginning of period
|
|
$
|
61,408
|
|
|
$
|
31,974
|
|
|
$
|
31,043
|
|
|
Adjustment related to adoption of ASU 2016-13
|
|
|
17,433
|
|
|
|
—
|
|
|
|
—
|
|
|
Adjusted balance
|
|
|
78,841
|
|
|
|
31,974
|
|
|
|
31,043
|
|
|
Less loans receivable charged off
|
|
|
33,952
|
|
|
|
4,588
|
|
|
|
7,310
|
|
|
Recoveries on loans receivable previously charged off
|
|
|
(3,063
|
)
|
|
|
(3,852
|
)
|
|
|
(4,251
|
)
|
|
Provision for credit losses
|
|
|
42,474
|
|
|
|
30,170
|
|
|
|
3,990
|
|
|
Balance at end of period
|
|
$
|
90,426
|
|
|
$
|
61,408
|
|
|
$
|
31,974
|
|
|
| Allowance for Credit Losses by Portfolio Segment |
The following table details the information on the allowance for credit losses by portfolio segment for the years ended December 31, 2020 and 2019:
|
|
|
Real
Estate
|
|
|
Commercial
and
Industrial
|
|
|
Leases
Receivable
|
|
|
Unallocated
|
|
|
Total
|
|
|
|
|
|
(in thousands)
|
|
|
|
December 31, 2020
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for credit losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning balance
|
|
$
|
36,435
|
|
|
$
|
16,206
|
|
|
$
|
8,767
|
|
|
$
|
—
|
|
|
|
61,408
|
|
|
|
Adjustment related to adoption of ASU 2016-13
|
|
|
14,028
|
|
|
|
(2,497
|
)
|
|
|
5,902
|
|
|
|
—
|
|
|
|
17,433
|
|
|
|
Adjusted balance
|
|
|
50,463
|
|
|
|
13,709
|
|
|
|
14,669
|
|
|
|
—
|
|
|
|
78,841
|
|
|
|
Less loans charged off
|
|
|
15,567
|
|
|
|
13,312
|
|
|
|
5,073
|
|
|
|
—
|
|
|
|
33,952
|
|
|
|
Recoveries on loans receivable previously charged off
|
|
|
(2,124
|
)
|
|
|
(336
|
)
|
|
|
(603
|
)
|
|
|
—
|
|
|
|
(3,063
|
)
|
|
|
Provision for credit losses
|
|
|
14,856
|
|
|
|
20,677
|
|
|
|
6,941
|
|
|
|
—
|
|
|
|
42,474
|
|
|
|
Ending balance
|
|
$
|
51,876
|
|
|
$
|
21,410
|
|
|
$
|
17,140
|
|
|
$
|
—
|
|
|
$
|
90,426
|
|
|
|
Individually evaluated
|
|
$
|
20
|
|
|
$
|
7,976
|
|
|
$
|
6,056
|
|
|
$
|
—
|
|
|
$
|
14,052
|
|
|
|
Collectively evaluated
|
|
$
|
51,855
|
|
|
$
|
13,434
|
|
|
$
|
11,085
|
|
|
$
|
—
|
|
|
$
|
76,374
|
|
|
|
Loans receivable
|
|
$
|
3,699,649
|
|
|
$
|
757,255
|
|
|
$
|
423,264
|
|
|
$
|
—
|
|
|
$
|
4,880,168
|
|
|
|
Individually evaluated
|
|
$
|
65,160
|
|
|
$
|
14,568
|
|
|
$
|
11,234
|
|
|
$
|
—
|
|
|
$
|
90,961
|
|
|
|
Collectively evaluated
|
|
$
|
3,634,489
|
|
|
$
|
742,687
|
|
|
$
|
412,030
|
|
|
$
|
—
|
|
|
$
|
4,789,207
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for credit losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning balance
|
|
$
|
18,482
|
|
|
$
|
7,162
|
|
|
$
|
6,303
|
|
|
$
|
27
|
|
|
$
|
31,974
|
|
|
|
Less loans charged off
|
|
|
132
|
|
|
|
1,293
|
|
|
|
3,162
|
|
|
|
—
|
|
|
|
4,588
|
|
|
|
Recoveries on loans receivable previously charged off
|
|
|
(2,190
|
)
|
|
|
(1,241
|
)
|
|
|
(422
|
)
|
|
|
—
|
|
|
|
(3,852
|
)
|
|
|
Provision for credit losses
|
|
|
15,896
|
|
|
|
9,097
|
|
|
|
5,205
|
|
|
|
(27
|
)
|
|
|
30,170
|
|
|
|
Ending balance
|
|
$
|
36,435
|
|
|
$
|
16,206
|
|
|
$
|
8,767
|
|
|
$
|
—
|
|
|
$
|
61,408
|
|
|
|
Individually evaluated for impairment
|
|
$
|
14,029
|
|
|
$
|
8,885
|
|
|
$
|
2,863
|
|
|
$
|
—
|
|
|
$
|
25,777
|
|
|
|
Collectively evaluated for impairment
|
|
$
|
22,406
|
|
|
$
|
7,321
|
|
|
$
|
5,904
|
|
|
$
|
—
|
|
|
$
|
35,631
|
|
|
|
Loans receivable
|
|
$
|
3,642,175
|
|
|
$
|
484,093
|
|
|
$
|
483,879
|
|
|
$
|
—
|
|
|
$
|
4,610,147
|
|
|
|
Individually evaluated for impairment
|
|
$
|
45,163
|
|
|
$
|
13,700
|
|
|
$
|
5,902
|
|
|
$
|
—
|
|
|
$
|
64,765
|
|
|
|
Collectively evaluated for impairment
|
|
$
|
3,597,012
|
|
|
$
|
470,393
|
|
|
$
|
477,977
|
|
|
$
|
—
|
|
|
$
|
4,545,382
|
|
|
The table below illustrates the allowance for credit losses by portfolio segment as a percentage of the recorded total allowance for credit losses and as a percentage of the aggregate recorded investment of loans receivable for the years ended December 31, 2020 and 2019:
|
|
|
December 31, 2020
|
|
|
December 31, 2019
|
|
|
|
|
Allowance
Amount
|
|
|
Total
Loans
|
|
|
Percentage
of Total
Loans
|
|
|
Allowance
Amount
|
|
|
Total
Loans
|
|
|
Percentage
of Total
Loans
|
|
|
|
|
(in thousands)
|
|
|
Real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial property
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail
|
|
$
|
4,855
|
|
|
$
|
824,606
|
|
|
|
16.9
|
%
|
|
$
|
4,911
|
|
|
$
|
869,302
|
|
|
|
18.9
|
%
|
|
Hospitality
|
|
|
28,801
|
|
|
|
859,953
|
|
|
|
17.6
|
%
|
|
|
6,686
|
|
|
|
922,288
|
|
|
|
20.0
|
%
|
|
Other
|
|
|
13,991
|
|
|
|
1,610,377
|
|
|
|
33.0
|
%
|
|
|
8,060
|
|
|
|
1,358,432
|
|
|
|
29.4
|
%
|
|
Total commercial property loans
|
|
|
47,647
|
|
|
|
3,294,936
|
|
|
|
67.5
|
%
|
|
|
19,657
|
|
|
|
3,150,022
|
|
|
|
68.3
|
%
|
|
Construction
|
|
|
2,876
|
|
|
|
58,882
|
|
|
|
1.2
|
%
|
|
|
15,003
|
|
|
|
76,455
|
|
|
|
1.7
|
%
|
|
Residential/consumer loans
|
|
|
1,353
|
|
|
|
345,831
|
|
|
|
7.1
|
%
|
|
|
1,775
|
|
|
|
415,698
|
|
|
|
9.0
|
%
|
|
Total real estate loans
|
|
|
51,876
|
|
|
|
3,699,649
|
|
|
|
75.8
|
%
|
|
|
36,435
|
|
|
|
3,642,175
|
|
|
|
79.0
|
%
|
|
Commercial and industrial loans
|
|
|
21,410
|
|
|
|
757,255
|
|
|
|
15.5
|
%
|
|
|
16,206
|
|
|
|
484,093
|
|
|
|
10.5
|
%
|
|
Leases receivable
|
|
|
17,140
|
|
|
|
423,264
|
|
|
|
8.7
|
%
|
|
|
8,767
|
|
|
|
483,879
|
|
|
|
10.5
|
%
|
|
Total
|
|
$
|
90,426
|
|
|
$
|
4,880,168
|
|
|
|
100.0
|
%
|
|
$
|
61,408
|
|
|
$
|
4,610,147
|
|
|
|
100.0
|
%
|
|
| Summary of Amortized Cost Basis of Collateral Dependent Loans By Class of Loans |
The following table represents the amortized cost basis of collateral-dependent loans by class of loans as of December 31, 2020, for which repayment is expected to be obtained through the sale of the underlying collateral and any collateral dependent loans that are still accruing but are considered nonperforming.
|
|
|
Amortized
Cost
|
|
|
|
|
(in thousands)
|
|
|
December 31, 2020
|
|
|
|
|
|
Real estate loans:
|
|
|
|
|
|
Commercial property
|
|
|
|
|
|
Retail
|
|
$
|
6,330
|
|
|
Hospitality
|
|
|
20,612
|
|
|
Other
|
|
|
8,410
|
|
|
Commercial property
|
|
|
35,352
|
|
|
Construction
|
|
|
24,854
|
|
|
Residential/consumer loans
|
|
|
2,867
|
|
|
Total real estate loans
|
|
|
63,073
|
|
|
Commercial and industrial loans
|
|
|
41
|
|
|
Total (1)
|
|
$
|
63,114
|
|
|
(1)
|
Includes, among other property types, hospitality, retail and other, mixed-use, gas station, apartment, office, industrial, faith-based facilities and warehouse; the remaining real estate categories represent less than one percent of the Bank's total loans receivable.
|
|
| Credit Quality of Loan Portfolio |
As of December 31, 2020 and 2019, the recorded investment in pass/pass-watch, special mention and classified (substandard, doubtful and loss) loans, disaggregated by loan class, were as follows:
|
|
|
Pass/Pass-
Watch
|
|
|
Special
Mention
|
|
|
Classified
|
|
|
Total
|
|
|
|
|
(in thousands)
|
|
|
December 31, 2020
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial property
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail
|
|
$
|
807,348
|
|
|
$
|
3,382
|
|
|
$
|
13,876
|
|
|
$
|
824,606
|
|
|
Hospitality
|
|
|
788,369
|
|
|
|
26,086
|
|
|
|
45,498
|
|
|
|
859,953
|
|
|
Other
|
|
|
1,571,012
|
|
|
|
23,876
|
|
|
|
15,489
|
|
|
|
1,610,377
|
|
|
Total commercial property loans
|
|
|
3,166,729
|
|
|
|
53,344
|
|
|
|
74,863
|
|
|
|
3,294,936
|
|
|
Construction
|
|
|
34,028
|
|
|
|
—
|
|
|
|
24,854
|
|
|
|
58,882
|
|
|
Residential/consumer loans
|
|
|
337,549
|
|
|
|
5,078
|
|
|
|
3,204
|
|
|
|
345,831
|
|
|
Total real estate loans
|
|
|
3,538,306
|
|
|
|
58,422
|
|
|
|
102,921
|
|
|
|
3,699,649
|
|
|
Commercial and industrial loans
|
|
|
712,685
|
|
|
|
18,556
|
|
|
|
26,014
|
|
|
|
757,255
|
|
|
Leases receivable
|
|
|
412,030
|
|
|
|
—
|
|
|
|
11,234
|
|
|
|
423,264
|
|
|
Total loans receivable
|
|
$
|
4,663,021
|
|
|
$
|
76,978
|
|
|
$
|
140,169
|
|
|
$
|
4,880,168
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial property
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail
|
|
$
|
859,739
|
|
|
$
|
2,835
|
|
|
$
|
6,728
|
|
|
$
|
869,302
|
|
|
Hospitality
|
|
|
915,834
|
|
|
|
939
|
|
|
|
5,515
|
|
|
|
922,288
|
|
|
Other
|
|
|
1,329,817
|
|
|
|
7,807
|
|
|
|
20,809
|
|
|
|
1,358,432
|
|
|
Total commercial property loans
|
|
|
3,105,390
|
|
|
|
11,580
|
|
|
|
33,052
|
|
|
|
3,150,022
|
|
|
Construction
|
|
|
36,956
|
|
|
|
1,613
|
|
|
|
37,886
|
|
|
|
76,455
|
|
|
Residential/consumer loans
|
|
|
410,984
|
|
|
|
3,217
|
|
|
|
1,497
|
|
|
|
415,698
|
|
|
Total real estate loans
|
|
|
3,553,329
|
|
|
|
16,410
|
|
|
|
72,436
|
|
|
|
3,642,175
|
|
|
Commercial and industrial loans
|
|
|
458,184
|
|
|
|
10,222
|
|
|
|
15,687
|
|
|
|
484,093
|
|
|
Leases receivable
|
|
|
477,977
|
|
|
|
—
|
|
|
|
5,902
|
|
|
|
483,879
|
|
|
Total loans receivable
|
|
$
|
4,489,491
|
|
|
$
|
26,632
|
|
|
$
|
94,025
|
|
|
$
|
4,610,147
|
|
|
|
|
Term Loans
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortized Cost Basis by Origination Year (1)
|
|
|
|
|
|
|
|
|
|
|
|
|
2020
|
|
|
2019
|
|
|
2018
|
|
|
2017
|
|
|
2016
|
|
|
Prior
|
|
|
Revolving
Loans
Amortized
Cost Basis
|
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2020
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial property
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk Rating
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass / Pass Watch
|
|
$
|
920,876
|
|
|
$
|
513,962
|
|
|
$
|
479,221
|
|
|
$
|
343,659
|
|
|
$
|
418,362
|
|
|
$
|
459,366
|
|
|
$
|
31,283
|
|
|
$
|
3,166,729
|
|
|
Special Mention
|
|
|
23,429
|
|
|
|
2,484
|
|
|
|
8,630
|
|
|
|
1,672
|
|
|
|
14,971
|
|
|
|
2,158
|
|
|
|
—
|
|
|
|
53,344
|
|
|
Classified
|
|
|
20,307
|
|
|
|
4,276
|
|
|
|
9,239
|
|
|
|
3,084
|
|
|
|
18,712
|
|
|
|
19,115
|
|
|
|
130
|
|
|
|
74,863
|
|
|
Total commercial property
|
|
|
964,612
|
|
|
|
520,722
|
|
|
|
497,090
|
|
|
|
348,415
|
|
|
|
452,045
|
|
|
|
480,639
|
|
|
|
31,413
|
|
|
|
3,294,936
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk Rating
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass / Pass Watch
|
|
$
|
33,415
|
|
|
$
|
613
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
34,028
|
|
|
Special Mention
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
Classified
|
|
|
12,808
|
|
|
|
—
|
|
|
|
12,046
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
24,854
|
|
|
Total construction
|
|
|
46,223
|
|
|
|
613
|
|
|
|
12,046
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
58,882
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential/consumer loans
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk Rating
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass / Pass Watch
|
|
$
|
27,997
|
|
|
$
|
962
|
|
|
$
|
37,122
|
|
|
$
|
127,987
|
|
|
$
|
82,124
|
|
|
$
|
54,004
|
|
|
$
|
7,353
|
|
|
$
|
337,549
|
|
|
Special Mention
|
|
|
—
|
|
|
|
—
|
|
|
|
930
|
|
|
$
|
828
|
|
|
|
1,863
|
|
|
|
1,457
|
|
|
|
—
|
|
|
|
5,078
|
|
|
Classified
|
|
|
—
|
|
|
|
—
|
|
|
|
620
|
|
|
|
2,283
|
|
|
|
301
|
|
|
|
—
|
|
|
|
—
|
|
|
|
3,204
|
|
|
Total residential property
|
|
|
27,997
|
|
|
|
962
|
|
|
|
38,672
|
|
|
|
131,098
|
|
|
|
84,288
|
|
|
|
55,461
|
|
|
|
7,353
|
|
|
|
345,831
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total real estate loans
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk Rating
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass / Pass Watch
|
|
$
|
982,288
|
|
|
$
|
515,537
|
|
|
$
|
516,343
|
|
|
$
|
471,646
|
|
|
$
|
500,486
|
|
|
$
|
513,370
|
|
|
$
|
38,636
|
|
|
$
|
3,538,306
|
|
|
Special Mention
|
|
|
23,429
|
|
|
|
2,484
|
|
|
|
9,560
|
|
|
|
2,500
|
|
|
|
16,834
|
|
|
|
3,615
|
|
|
|
—
|
|
|
|
58,422
|
|
|
Classified
|
|
|
33,115
|
|
|
|
4,276
|
|
|
|
21,905
|
|
|
|
5,367
|
|
|
|
19,013
|
|
|
|
19,115
|
|
|
|
130
|
|
|
|
102,921
|
|
|
Total real estate loans
|
|
|
1,038,832
|
|
|
|
522,297
|
|
|
|
547,808
|
|
|
|
479,513
|
|
|
|
536,333
|
|
|
|
536,100
|
|
|
|
38,766
|
|
|
|
3,699,649
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk Rating
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass / Pass Watch
|
|
$
|
406,486
|
|
|
$
|
73,160
|
|
|
$
|
54,110
|
|
|
$
|
17,834
|
|
|
$
|
4,464
|
|
|
$
|
9,910
|
|
|
$
|
146,721
|
|
|
$
|
712,685
|
|
|
Special Mention
|
|
|
7,239
|
|
|
|
4,509
|
|
|
|
4,146
|
|
|
|
1,110
|
|
|
|
31
|
|
|
|
1,074
|
|
|
|
447
|
|
|
|
18,556
|
|
|
Classified
|
|
|
8,552
|
|
|
|
4,784
|
|
|
|
1,364
|
|
|
|
930
|
|
|
|
4,380
|
|
|
|
1,359
|
|
|
|
4,645
|
|
|
|
26,014
|
|
|
Total commercial and industrial loans
|
|
|
422,277
|
|
|
|
82,453
|
|
|
|
59,620
|
|
|
|
19,874
|
|
|
|
8,875
|
|
|
|
12,343
|
|
|
|
151,813
|
|
|
|
757,255
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Leases receivable:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk Rating
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass / Pass Watch
|
|
$
|
113,712
|
|
|
$
|
165,242
|
|
|
$
|
91,408
|
|
|
$
|
30,405
|
|
|
$
|
10,096
|
|
|
$
|
1,167
|
|
|
$
|
—
|
|
|
$
|
412,030
|
|
|
Special Mention
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
Classified
|
|
|
452
|
|
|
|
5,728
|
|
|
|
3,137
|
|
|
|
876
|
|
|
|
804
|
|
|
|
237
|
|
|
|
—
|
|
|
|
11,234
|
|
|
Total leases receivable
|
|
|
114,164
|
|
|
|
170,970
|
|
|
|
94,545
|
|
|
|
31,281
|
|
|
|
10,900
|
|
|
|
1,404
|
|
|
|
—
|
|
|
|
423,264
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total loans receivable:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk Rating
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass / Pass Watch
|
|
$
|
1,502,486
|
|
|
$
|
753,939
|
|
|
$
|
661,861
|
|
|
$
|
519,885
|
|
|
$
|
515,046
|
|
|
$
|
524,447
|
|
|
$
|
185,357
|
|
|
$
|
4,663,021
|
|
|
Special Mention
|
|
|
30,668
|
|
|
|
6,993
|
|
|
|
13,706
|
|
|
|
3,610
|
|
|
|
16,865
|
|
|
|
4,689
|
|
|
|
447
|
|
|
|
76,978
|
|
|
Classified
|
|
|
42,119
|
|
|
|
14,788
|
|
|
|
26,406
|
|
|
|
7,173
|
|
|
|
24,197
|
|
|
|
20,711
|
|
|
|
4,775
|
|
|
|
140,169
|
|
|
Total loans receivable
|
|
|
1,575,273
|
|
|
|
775,720
|
|
|
|
701,973
|
|
|
|
530,668
|
|
|
|
556,108
|
|
|
|
549,847
|
|
|
|
190,579
|
|
|
|
4,880,168
|
|
|
(1)
|
Includes extensions, renewals, or modifications of credit contracts, which consist of a new credit decision.
|
|
|
|
Term Loans
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortized Cost Basis by Origination Year (1)
|
|
|
|
|
|
|
|
|
|
|
|
|
2020
|
|
|
2019
|
|
|
2018
|
|
|
2017
|
|
|
2016
|
|
|
Prior
|
|
|
Revolving
Loans
Amortized
Cost Basis
|
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2020
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial property
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payment performance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Performing
|
|
$
|
961,973
|
|
|
$
|
520,330
|
|
|
$
|
496,936
|
|
|
$
|
346,029
|
|
|
$
|
437,231
|
|
|
$
|
471,067
|
|
|
$
|
31,283
|
|
|
$
|
3,264,849
|
|
|
Nonperforming
|
|
|
2,639
|
|
|
|
392
|
|
|
|
154
|
|
|
|
2,386
|
|
|
|
14,814
|
|
|
|
9,572
|
|
|
|
130
|
|
|
|
30,087
|
|
|
Total commercial property
|
|
|
964,612
|
|
|
|
520,722
|
|
|
|
497,090
|
|
|
|
348,415
|
|
|
|
452,045
|
|
|
|
480,639
|
|
|
|
31,413
|
|
|
|
3,294,936
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payment performance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Performing
|
|
$
|
33,415
|
|
|
$
|
613
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
34,028
|
|
|
Nonperforming
|
|
|
12,808
|
|
|
|
—
|
|
|
|
12,046
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
24,854
|
|
|
Total construction
|
|
|
46,223
|
|
|
|
613
|
|
|
|
12,046
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
58,882
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential/consumer loans
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payment performance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Performing
|
|
$
|
27,997
|
|
|
$
|
962
|
|
|
$
|
38,052
|
|
|
$
|
129,669
|
|
|
$
|
83,987
|
|
|
$
|
55,461
|
|
|
$
|
7,353
|
|
|
|
343,481
|
|
|
Nonperforming
|
|
|
—
|
|
|
|
—
|
|
|
|
620
|
|
|
|
1,429
|
|
|
|
301
|
|
|
|
—
|
|
|
|
—
|
|
|
|
2,350
|
|
|
Total residential property
|
|
|
27,997
|
|
|
|
962
|
|
|
|
38,672
|
|
|
|
131,098
|
|
|
|
84,288
|
|
|
|
55,461
|
|
|
|
7,353
|
|
|
|
345,831
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total real estate loans
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payment performance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Performing
|
|
$
|
1,023,385
|
|
|
$
|
521,905
|
|
|
$
|
534,988
|
|
|
$
|
475,698
|
|
|
$
|
521,218
|
|
|
$
|
526,528
|
|
|
$
|
38,636
|
|
|
|
3,642,358
|
|
|
Nonperforming
|
|
|
15,447
|
|
|
|
392
|
|
|
|
12,820
|
|
|
|
3,815
|
|
|
|
15,115
|
|
|
|
9,572
|
|
|
|
130
|
|
|
|
57,291
|
|
|
Total real estate loans
|
|
|
1,038,832
|
|
|
|
522,297
|
|
|
|
547,808
|
|
|
|
479,513
|
|
|
|
536,333
|
|
|
|
536,100
|
|
|
|
38,766
|
|
|
|
3,699,649
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and industrial loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payment performance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Performing
|
|
$
|
413,725
|
|
|
$
|
77,672
|
|
|
$
|
59,436
|
|
|
$
|
19,002
|
|
|
$
|
8,875
|
|
|
$
|
12,228
|
|
|
$
|
151,813
|
|
|
|
742,751
|
|
|
Nonperforming
|
|
|
8,552
|
|
|
|
4,781
|
|
|
|
184
|
|
|
|
872
|
|
|
|
—
|
|
|
|
115
|
|
|
|
—
|
|
|
|
14,504
|
|
|
Total commercial and industrial loans
|
|
|
422,277
|
|
|
|
82,453
|
|
|
|
59,620
|
|
|
|
19,874
|
|
|
|
8,875
|
|
|
|
12,343
|
|
|
|
151,813
|
|
|
|
757,255
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Leases receivable:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payment performance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Performing
|
|
|
113,712
|
|
|
|
165,242
|
|
|
|
91,408
|
|
|
|
30,405
|
|
|
|
10,096
|
|
|
|
1,167
|
|
|
|
—
|
|
|
|
412,030
|
|
|
Nonperforming
|
|
|
452
|
|
|
|
5,728
|
|
|
|
3,137
|
|
|
|
876
|
|
|
|
804
|
|
|
|
237
|
|
|
|
—
|
|
|
|
11,234
|
|
|
Total leases receivable
|
|
|
114,164
|
|
|
|
170,970
|
|
|
|
94,545
|
|
|
|
31,281
|
|
|
|
10,900
|
|
|
|
1,404
|
|
|
|
—
|
|
|
|
423,264
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total loans receivable:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Payment performance
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Performing
|
|
$
|
1,550,822
|
|
|
$
|
764,819
|
|
|
$
|
685,832
|
|
|
$
|
525,105
|
|
|
$
|
540,189
|
|
|
$
|
539,923
|
|
|
$
|
190,449
|
|
|
|
4,797,139
|
|
|
Nonperforming
|
|
|
24,451
|
|
|
|
10,901
|
|
|
|
16,141
|
|
|
|
5,563
|
|
|
|
15,919
|
|
|
|
9,924
|
|
|
|
130
|
|
|
|
83,029
|
|
|
Total loans receivable
|
|
$
|
1,575,273
|
|
|
$
|
775,720
|
|
|
$
|
701,973
|
|
|
$
|
530,668
|
|
|
$
|
556,108
|
|
|
$
|
549,847
|
|
|
$
|
190,579
|
|
|
$
|
4,880,168
|
|
|
(1)
|
Includes extensions, renewals, or modifications of credit contracts, which consist of a new credit decision
|
|
| Information on Individually Evaluated, Disaggregated by Loan Class |
The following tables provide information on individually evaluated loans receivable as of December 31, 2020 and December 31, 2019, 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
|
|
|
Average
Recorded
Investment
|
|
|
Interest
Income
Recognized
|
|
|
|
|
(in thousands)
|
|
|
December 31, 2020
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial property
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail
|
|
$
|
6,331
|
|
|
$
|
6,423
|
|
|
$
|
6,330
|
|
|
$
|
1
|
|
|
$
|
—
|
|
|
$
|
6,728
|
|
|
$
|
—
|
|
|
Hospitality
|
|
|
20,612
|
|
|
|
20,627
|
|
|
|
20,612
|
|
|
|
—
|
|
|
|
—
|
|
|
|
21,120
|
|
|
|
—
|
|
|
Other
|
|
|
10,430
|
|
|
|
11,736
|
|
|
|
9,522
|
|
|
|
908
|
|
|
|
20
|
|
|
|
11,202
|
|
|
|
—
|
|
|
Total commercial property loans
|
|
|
37,373
|
|
|
|
38,786
|
|
|
|
36,464
|
|
|
|
909
|
|
|
|
20
|
|
|
|
39,050
|
|
|
|
—
|
|
|
Construction
|
|
|
24,854
|
|
|
|
26,494
|
|
|
|
24,854
|
|
|
|
—
|
|
|
|
—
|
|
|
|
27,803
|
|
|
|
—
|
|
|
Residential/consumer loans
|
|
|
2,933
|
|
|
|
3,253
|
|
|
|
2,867
|
|
|
|
66
|
|
|
|
1
|
|
|
|
2,997
|
|
|
|
—
|
|
|
Total real estate loans
|
|
|
65,160
|
|
|
|
68,533
|
|
|
|
64,185
|
|
|
|
975
|
|
|
|
21
|
|
|
|
69,850
|
|
|
|
—
|
|
|
Commercial and industrial loans
|
|
|
14,568
|
|
|
|
14,688
|
|
|
|
58
|
|
|
|
14,510
|
|
|
|
7,976
|
|
|
|
14,751
|
|
|
|
—
|
|
|
Leases receivable
|
|
|
11,233
|
|
|
|
11,237
|
|
|
|
2,318
|
|
|
|
8,915
|
|
|
|
6,056
|
|
|
|
13,147
|
|
|
|
758
|
|
|
Total
|
|
$
|
90,961
|
|
|
$
|
94,458
|
|
|
$
|
66,561
|
|
|
$
|
24,400
|
|
|
$
|
14,053
|
|
|
$
|
97,748
|
|
|
$
|
758
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial property
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail
|
|
$
|
434
|
|
|
$
|
459
|
|
|
$
|
111
|
|
|
$
|
323
|
|
|
$
|
19
|
|
|
$
|
894
|
|
|
$
|
13
|
|
|
Hospitality
|
|
|
244
|
|
|
|
400
|
|
|
|
22
|
|
|
|
223
|
|
|
|
24
|
|
|
|
1,683
|
|
|
|
—
|
|
|
Other
|
|
|
14,864
|
|
|
|
15,151
|
|
|
|
14,696
|
|
|
|
167
|
|
|
|
12
|
|
|
|
10,619
|
|
|
|
168
|
|
|
Total commercial property loans
|
|
|
15,542
|
|
|
|
16,010
|
|
|
|
14,829
|
|
|
|
713
|
|
|
|
55
|
|
|
|
13,196
|
|
|
|
181
|
|
|
Construction
|
|
|
27,201
|
|
|
|
28,000
|
|
|
|
—
|
|
|
|
27,201
|
|
|
|
13,973
|
|
|
|
18,421
|
|
|
|
249
|
|
|
Residential/consumer loans
|
|
|
2,421
|
|
|
|
2,751
|
|
|
|
2,309
|
|
|
|
112
|
|
|
|
1
|
|
|
|
2,845
|
|
|
|
66
|
|
|
Total real estate loans
|
|
|
45,164
|
|
|
|
46,761
|
|
|
|
17,138
|
|
|
|
28,026
|
|
|
|
14,029
|
|
|
|
34,462
|
|
|
|
495
|
|
|
Commercial and industrial loans
|
|
|
13,700
|
|
|
|
14,090
|
|
|
|
143
|
|
|
|
13,557
|
|
|
|
8,885
|
|
|
|
19,361
|
|
|
|
512
|
|
|
Leases receivable
|
|
|
5,902
|
|
|
|
5,909
|
|
|
|
1,112
|
|
|
|
4,790
|
|
|
|
2,863
|
|
|
|
4,854
|
|
|
|
44
|
|
|
Total
|
|
$
|
64,766
|
|
|
$
|
66,760
|
|
|
$
|
18,393
|
|
|
$
|
46,373
|
|
|
$
|
25,778
|
|
|
$
|
58,677
|
|
|
$
|
1,052
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2018
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial property
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail
|
|
$
|
2,166
|
|
|
$
|
2,207
|
|
|
$
|
1,894
|
|
|
$
|
272
|
|
|
$
|
—
|
|
|
$
|
2,001
|
|
|
$
|
183
|
|
|
Hospitality
|
|
|
4,282
|
|
|
|
5,773
|
|
|
|
4,032
|
|
|
|
250
|
|
|
|
—
|
|
|
|
7,285
|
|
|
|
482
|
|
|
Other
|
|
|
7,525
|
|
|
|
8,016
|
|
|
|
6,253
|
|
|
|
1,272
|
|
|
|
1
|
|
|
|
7,978
|
|
|
|
601
|
|
|
Total commercial property loans
|
|
|
13,973
|
|
|
|
15,996
|
|
|
|
12,179
|
|
|
|
1,794
|
|
|
|
1
|
|
|
|
17,264
|
|
|
|
1,266
|
|
|
Construction
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
Residential/consumer loans
|
|
|
1,627
|
|
|
|
2,002
|
|
|
|
1,534
|
|
|
|
93
|
|
|
|
—
|
|
|
|
2,952
|
|
|
|
151
|
|
|
Total real estate loans
|
|
|
15,600
|
|
|
|
17,998
|
|
|
|
13,713
|
|
|
|
1,887
|
|
|
|
1
|
|
|
|
20,216
|
|
|
|
1,417
|
|
|
Commercial and industrial loans
|
|
|
4,396
|
|
|
|
4,601
|
|
|
|
1,644
|
|
|
|
2,752
|
|
|
|
428
|
|
|
|
3,568
|
|
|
|
211
|
|
|
Leases receivable
|
|
|
5,129
|
|
|
|
5,162
|
|
|
|
1,256
|
|
|
|
3,873
|
|
|
|
1,383
|
|
|
|
5,229
|
|
|
|
46
|
|
|
Total
|
|
$
|
25,125
|
|
|
$
|
27,761
|
|
|
$
|
16,613
|
|
|
$
|
8,512
|
|
|
$
|
1,812
|
|
|
$
|
29,013
|
|
|
$
|
1,674
|
|
|
| Summary of Interest Foregone on Individually Evaluated Loans |
The following is a summary of interest foregone on individually evaluated loans for the periods indicated:
|
|
|
Year Ended December 31,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
2018
|
|
|
|
|
(in thousands)
|
|
|
Interest income that would have been recognized had individually evaluated loans performed in accordance with their original terms
|
|
$
|
5,438
|
|
|
$
|
3,439
|
|
|
$
|
2,808
|
|
|
Less: Interest income recognized on individually evaluated loans
|
|
|
(758
|
)
|
|
|
(1,279
|
)
|
|
|
(1,674
|
)
|
|
Interest foregone on individually evaluated loans
|
|
$
|
4,680
|
|
|
$
|
2,160
|
|
|
$
|
1,134
|
|
|
| Schedule of Amortized Cost Basis of Loans on Nonaccrual Status and Loans Past Due 90 Days and Still Accruing |
The following tables represent the amortized cost basis of loans on nonaccrual status and loans past due 90 days and still accruing as of December 31, 2020 and 2019.
|
|
|
December 31, 2020
|
|
|
|
|
Nonaccrual Loans
With
No Allowance for
Credit Losses
|
|
|
Nonaccrual Loans
With
Allowance for
Credit Losses
|
|
|
Loans
Past Due
90 Days Still
Accruing
|
|
|
Total
Nonperforming
Loans
|
|
|
|
|
(in thousands)
|
|
|
Real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail
|
|
$
|
6,331
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
6,331
|
|
|
Hospitality
|
|
|
20,612
|
|
|
|
—
|
|
|
|
—
|
|
|
|
20,612
|
|
|
Other
|
|
|
2,236
|
|
|
|
909
|
|
|
|
—
|
|
|
|
3,145
|
|
|
Commercial property loans
|
|
|
29,179
|
|
|
|
909
|
|
|
|
—
|
|
|
|
30,088
|
|
|
Construction loans
|
|
|
24,854
|
|
|
|
—
|
|
|
|
—
|
|
|
|
24,854
|
|
|
Residential/consumer loans
|
|
|
2,350
|
|
|
|
—
|
|
|
|
—
|
|
|
|
2,350
|
|
|
Total real estate loans
|
|
|
56,383
|
|
|
|
909
|
|
|
|
—
|
|
|
|
57,292
|
|
|
Commercial and industrial loans
|
|
|
58
|
|
|
|
14,449
|
|
|
|
—
|
|
|
|
14,507
|
|
|
Leases receivable
|
|
|
2,318
|
|
|
|
8,915
|
|
|
|
—
|
|
|
|
11,233
|
|
|
Total
|
|
$
|
58,759
|
|
|
$
|
24,273
|
|
|
$
|
—
|
|
|
$
|
83,032
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2019
|
|
|
|
|
Nonaccrual Loans
With
No Allowance for
Credit Losses
|
|
|
Nonaccrual Loans
With
Allowance for
Credit Losses
|
|
|
Loans
Past Due
90 Days Still
Accruing
|
|
|
Total
Nonperforming
Loans
|
|
|
|
|
(in thousands)
|
|
|
Real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail
|
|
$
|
111
|
|
|
$
|
166
|
|
|
$
|
—
|
|
|
$
|
277
|
|
|
Hospitality
|
|
|
3
|
|
|
|
222
|
|
|
|
—
|
|
|
|
225
|
|
|
Other
|
|
|
14,697
|
|
|
|
167
|
|
|
|
—
|
|
|
|
14,864
|
|
|
Commercial property loans
|
|
|
14,811
|
|
|
|
555
|
|
|
|
—
|
|
|
|
15,366
|
|
|
Construction loans
|
|
|
—
|
|
|
|
27,201
|
|
|
|
—
|
|
|
|
27,201
|
|
|
Residential/consumer loans
|
|
|
1,778
|
|
|
|
35
|
|
|
|
—
|
|
|
|
1,813
|
|
|
Total real estate loans
|
|
|
16,589
|
|
|
|
27,791
|
|
|
|
—
|
|
|
|
44,380
|
|
|
Commercial and industrial loans
|
|
|
143
|
|
|
|
13,336
|
|
|
|
—
|
|
|
|
13,479
|
|
|
Leases receivable
|
|
|
1,112
|
|
|
|
4,790
|
|
|
|
—
|
|
|
|
5,902
|
|
|
Total
|
|
$
|
17,844
|
|
|
$
|
45,917
|
|
|
$
|
—
|
|
|
$
|
63,761
|
|
|
| Analysis of Past Due Loans, Disaggregated by Loan Class |
The following is an aging analysis of loans, 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)
|
|
|
December 31, 2020
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial property
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
824,606
|
|
|
$
|
824,606
|
|
|
Hospitality
|
|
|
—
|
|
|
|
—
|
|
|
|
11,076
|
|
|
|
11,076
|
|
|
|
848,877
|
|
|
|
859,953
|
|
|
Other
|
|
|
—
|
|
|
|
—
|
|
|
|
731
|
|
|
|
731
|
|
|
|
1,609,646
|
|
|
|
1,610,377
|
|
|
Total commercial property loans
|
|
|
—
|
|
|
|
—
|
|
|
|
11,807
|
|
|
|
11,807
|
|
|
|
3,283,129
|
|
|
|
3,294,936
|
|
|
Construction
|
|
|
—
|
|
|
|
12,807
|
|
|
|
—
|
|
|
|
12,807
|
|
|
|
46,075
|
|
|
|
58,882
|
|
|
Residential/consumer loans
|
|
|
4,693
|
|
|
|
461
|
|
|
|
564
|
|
|
|
5,718
|
|
|
|
340,113
|
|
|
|
345,831
|
|
|
Total real estate loans
|
|
|
4,693
|
|
|
|
13,268
|
|
|
|
12,371
|
|
|
|
30,332
|
|
|
|
3,669,317
|
|
|
|
3,699,649
|
|
|
Commercial and industrial loans
|
|
|
282
|
|
|
|
27
|
|
|
|
12,487
|
|
|
|
12,796
|
|
|
|
744,459
|
|
|
|
757,255
|
|
|
Leases receivable
|
|
|
4,051
|
|
|
|
1,786
|
|
|
|
4,675
|
|
|
|
10,512
|
|
|
|
412,752
|
|
|
|
423,264
|
|
|
Total loans receivable
|
|
$
|
9,026
|
|
|
$
|
15,081
|
|
|
$
|
29,533
|
|
|
$
|
53,640
|
|
|
$
|
4,826,528
|
|
|
$
|
4,880,168
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial property
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail
|
|
$
|
6
|
|
|
$
|
132
|
|
|
$
|
111
|
|
|
$
|
249
|
|
|
$
|
869,053
|
|
|
$
|
869,302
|
|
|
Hospitality
|
|
|
907
|
|
|
|
—
|
|
|
|
—
|
|
|
|
907
|
|
|
|
921,381
|
|
|
|
922,288
|
|
|
Other
|
|
|
51
|
|
|
|
—
|
|
|
|
38
|
|
|
|
89
|
|
|
|
1,358,344
|
|
|
|
1,358,432
|
|
|
Total commercial property loans
|
|
|
964
|
|
|
|
132
|
|
|
|
149
|
|
|
|
1,245
|
|
|
|
3,148,778
|
|
|
|
3,150,022
|
|
|
Construction
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
76,455
|
|
|
|
76,455
|
|
|
Residential/consumer loans
|
|
|
540
|
|
|
|
1,657
|
|
|
|
309
|
|
|
|
2,507
|
|
|
|
413,191
|
|
|
|
415,697
|
|
|
Total real estate loans
|
|
|
1,504
|
|
|
|
1,789
|
|
|
|
458
|
|
|
|
3,752
|
|
|
|
3,638,424
|
|
|
|
3,642,175
|
|
|
Commercial and industrial loans
|
|
|
635
|
|
|
|
133
|
|
|
|
143
|
|
|
|
911
|
|
|
|
483,183
|
|
|
|
484,093
|
|
|
Leases receivable
|
|
|
5,358
|
|
|
|
2,138
|
|
|
|
3,493
|
|
|
|
10,990
|
|
|
|
472,889
|
|
|
|
483,879
|
|
|
Total loans receivable
|
|
$
|
7,497
|
|
|
$
|
4,060
|
|
|
$
|
4,094
|
|
|
$
|
15,652
|
|
|
$
|
4,594,496
|
|
|
$
|
4,610,147
|
|
|
| Non-Accrual Loans, Disaggregated by Loan Class |
The following table details nonaccrual loans, disaggregated by loan class, as of the dates indicated:
|
|
|
As of December 31,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
|
|
(in thousands)
|
|
|
Real estate loans:
|
|
|
|
|
|
|
|
|
|
Commercial property
|
|
|
|
|
|
|
|
|
|
Retail
|
|
$
|
6,330
|
|
|
$
|
277
|
|
|
Hospitality
|
|
|
20,612
|
|
|
|
225
|
|
|
Other
|
|
|
3,145
|
|
|
|
14,864
|
|
|
Total commercial property loans
|
|
|
30,087
|
|
|
|
15,366
|
|
|
Construction
|
|
|
24,854
|
|
|
|
27,201
|
|
|
Residential/consumer loans
|
|
|
2,350
|
|
|
|
1,813
|
|
|
Total real estate loans
|
|
|
57,291
|
|
|
|
44,380
|
|
|
Commercial and industrial loans
|
|
|
14,507
|
|
|
|
13,479
|
|
|
Leases receivable
|
|
|
11,234
|
|
|
|
5,902
|
|
|
Total nonaccrual loans
|
|
$
|
83,032
|
|
|
$
|
63,761
|
|
|
| Non-Performing Assets |
The following table details nonperforming assets as of the dates indicated:
|
|
|
As of December 31,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
|
|
(in thousands)
|
|
|
Nonaccrual loans
|
|
$
|
83,032
|
|
|
$
|
63,761
|
|
|
Loans receivable 90 days or more past due and still accruing
|
|
|
—
|
|
|
|
—
|
|
|
Total nonperforming loans receivable
|
|
|
83,032
|
|
|
|
63,761
|
|
|
Other real estate owned ("OREO")
|
|
|
2,360
|
|
|
|
63
|
|
|
Total nonperforming assets
|
|
$
|
85,392
|
|
|
$
|
63,824
|
|
|
| Troubled Debt Restructurings, Disaggregated by Type of Concession and by Loan Type |
The following table details the recorded investment in TDRs, disaggregated by concession type and by loan type, as of December 31, 2020 and 2019:
|
|
|
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)
|
|
|
December 31, 2020
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans
|
|
$
|
1,095
|
|
|
$
|
3,334
|
|
|
$
|
12,492
|
|
|
$
|
—
|
|
|
$
|
16,921
|
|
|
$
|
513
|
|
|
$
|
—
|
|
|
$
|
67
|
|
|
$
|
7,290
|
|
|
$
|
7,870
|
|
|
Commercial and industrial loans
|
|
|
—
|
|
|
|
144
|
|
|
|
—
|
|
|
|
—
|
|
|
|
144
|
|
|
|
—
|
|
|
|
—
|
|
|
|
4
|
|
|
|
56
|
|
|
|
60
|
|
|
Total
|
|
$
|
1,095
|
|
|
$
|
3,478
|
|
|
$
|
12,492
|
|
|
$
|
—
|
|
|
$
|
17,065
|
|
|
$
|
513
|
|
|
$
|
—
|
|
|
$
|
71
|
|
|
$
|
7,346
|
|
|
$
|
7,930
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans
|
|
$
|
689
|
|
|
$
|
132
|
|
|
$
|
27,740
|
|
|
$
|
13,926
|
|
|
$
|
42,487
|
|
|
$
|
531
|
|
|
$
|
—
|
|
|
$
|
77
|
|
|
$
|
—
|
|
|
$
|
608
|
|
|
Commercial and industrial loans
|
|
|
—
|
|
|
|
153
|
|
|
|
12,527
|
|
|
|
312
|
|
|
|
12,991
|
|
|
|
—
|
|
|
|
36
|
|
|
|
71
|
|
|
|
114
|
|
|
|
222
|
|
|
Total
|
|
$
|
689
|
|
|
$
|
285
|
|
|
$
|
40,266
|
|
|
$
|
14,238
|
|
|
$
|
55,478
|
|
|
$
|
531
|
|
|
$
|
36
|
|
|
$
|
148
|
|
|
$
|
114
|
|
|
$
|
830
|
|
|
| Summary of Loans by Class Modified as Troubled Debt Restructurings |
The following table presents the number of loans by class modified as troubled debt restructurings that occurred during the years ending December 31, 2020, 2019 and 2018 with their pre- and post-modification recorded amounts.
|
|
|
December 31, 2020
|
|
|
December 31, 2019
|
|
|
December 31, 2018
|
|
|
|
|
Number
of Loans
|
|
|
Pre-
Modification
Outstanding
Recorded
Investment
|
|
|
Post-
Modification
Outstanding
Recorded
Investment
|
|
|
Number
of Loans
|
|
|
Pre-
Modification
Outstanding
Recorded
Investment
|
|
|
Post-
Modification
Outstanding
Recorded
Investment
|
|
|
Number
of Loans
|
|
|
Pre-
Modification
Outstanding
Recorded
Investment
|
|
|
Post-
Modification
Outstanding
Recorded
Investment
|
|
|
|
|
(in thousands except for number of loans)
|
|
|
Real estate loans
|
|
|
5
|
|
|
$
|
4,479
|
|
|
$
|
3,676
|
|
|
|
6
|
|
|
$
|
41,292
|
|
|
$
|
42,329
|
|
|
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
Commercial and industrial loans
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
2
|
|
|
|
12,779
|
|
|
|
12,562
|
|
|
|
2
|
|
|
|
684
|
|
|
|
664
|
|
|
Total
|
|
|
5
|
|
|
$
|
4,479
|
|
|
$
|
3,676
|
|
|
|
8
|
|
|
$
|
54,071
|
|
|
$
|
54,892
|
|
|
|
2
|
|
|
$
|
684
|
|
|
$
|
664
|
|
|