| Summary of Impact of ASC on Allowance for Credit Losses |
The following table illustrates the allowance for credit losses and the related impact under ASU 2016-13 to the Company as of January 1, 2020.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As Reported
Under ASU
2016-13 |
|
|
Pre-ASU
2016-13
Adoption |
|
|
Impact of
ASU 2016-13
Adoption |
|
|
|
(in thousands) |
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
|
|
Retail |
|
$ |
6,785 |
|
|
$ |
4,911 |
|
|
$ |
1,873 |
|
Hospitality |
|
|
12,387 |
|
|
|
6,686 |
|
|
|
5,702 |
|
Other |
|
|
13,415 |
|
|
|
8,060 |
|
|
|
5,355 |
|
Total commercial property loans |
|
|
32,587 |
|
|
|
19,657 |
|
|
|
12,930 |
|
Construction loans |
|
|
15,590 |
|
|
|
15,003 |
|
|
|
587 |
|
Residential/consumer loans |
|
|
2,286 |
|
|
|
1,775 |
|
|
|
510 |
|
Total real estate loans |
|
|
50,463 |
|
|
|
36,435 |
|
|
|
14,027 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
|
|
Commercial term loans |
|
|
12,175 |
|
|
|
14,077 |
|
|
|
(1,903 |
) |
Commercial lines of credit |
|
|
1,358 |
|
|
|
1,887 |
|
|
|
(529 |
) |
International loans |
|
|
176 |
|
|
|
242 |
|
|
|
(65 |
) |
Total commercial loans |
|
|
13,709 |
|
|
|
16,206 |
|
|
|
(2,497 |
) |
Equipment financing agreements |
|
|
14,669 |
|
|
|
8,767 |
|
|
|
5,902 |
|
Allowance for credit losses on loans receivable |
|
$ |
78,841 |
|
|
$ |
61,408 |
|
|
$ |
17,432 |
|
|
|
|
|
|
|
|
|
|
|
Allowance for credit losses on off-balance sheet items |
|
$ |
2,062 |
|
|
$ |
2,398 |
|
|
$ |
(335 |
) |
|