Hanmi Financial Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Loans (Tables)

Loans (Tables)

12 Months Ended

Dec. 31, 2014

Loans receivable consisted of the following as of the dates indicated:


	December 31, 2014									December 31, 2013
	Non-PCI Loans			PCI Loans			Total			December 31, 2013
	(In thousands)
Real estate loans:
Commercial property ⁽¹⁾
Retail	$	675,072		$	8,535		$	683,607		$	543,619
Hotel/motel		454,499			7,682			462,181			322,927
Gas station		362,240			7,745			369,985			292,557
Other		842,126			5,796			847,922			731,617
Construction		9,517			—			9,517			—
Residential property		120,932			14,371			135,303			79,078

Total real estate loans		2,464,386			44,129			2,508,515			1,969,798
Commercial and industrial loans:
Commercial term		116,073			327			116,400			124,391
Commercial lines of credit		93,860			—			93,860			71,042
International loans		38,929			—			38,929			36,353

Total commercial and industrial loans		248,862			327			249,189			231,786
Consumer loans		27,512			45			27,557			32,505

Total gross loans		2,740,760			44,501			2,785,261			2,234,089
Allowance for loans losses		(51,640	)		(1,026	)		(52,666	)		(57,555	)
Deferred loan costs		3,237			—			3,237			964

Loans receivable, net	$	2,692,357		$	43,475		$	2,735,832		$	2,177,498

⁽¹⁾

Includes owner-occupied property loans of $1.12 billion and $957.3 million as of December 31, 2014 and 2013, respectively.

Loans Receivable to Loans Held for Sale

The following table details the information on the sales and reclassifications of loans receivable to loans held for sale (excluding PCI loans) by portfolio segment for the years ended December 31, 2014 and 2013:


	Real Estate			Commercial and Industrial			Consumer		Total Non-PCI
	(In thousands)
December 31, 2014
Balance at beginning of period	$	—		$	—		$	—	$	—
Origination of loans held for sale		38,379			9,606			—		47,985
Sales of loans held for sale		(34,994	)		(7,418	)		—		(42,412	)
Principal payoffs and amortization		(62	)		(60	)		—		(122	)

Balance at end of period	$	3,323		$	2,128		$	—	$	5,451

December 31, 2013
Balance at beginning of period	$	7,977		$	329		$	—	$	8,306
Origination of loans held for sale		77,295			5,732			—		83,027
Reclassification from loans receivable to loans held for sale		7,594			416			—		8,010
Reclassification from loans held for sale to loans receivable		(2,118	)		(416	)		—		(2,534	)
Sales of loans held for sale		(90,706	)		(6,048	)		—		(96,754	)
Principal payoffs and amortization		(42	)		(13	)		—		(55	)

Balance at end of period	$	—		$	—		$	—	$	—

Allowance for Loan Losses and Allowance for Off-Balance Sheet Items

Activity in the allowance for loan losses and allowance for off-balance sheet items was as follows for the periods indicated:


	As of and for the Year Ended December 31,
	2014
	Non-PCI Loans			PCI Loans		Total			2013			2012
	(In thousands)
Allowance for loan losses:
Balance at beginning of period	$	57,555		$	—	$	57,555		$	63,305		$	89,936
Charge-offs		(6,992	)		—		(6,992	)		(11,862	)		(38,227	)
Recoveries on loans previously charged off		8,361			—		8,361			5,536			4,439

Net loan recoveries (charge-offs)		1,369			—		1,369			(6,326	)		(33,788	)
(Negative provision) provision charged to operating expense		(7,284	)		1,026		(6,258	)		576			7,157

Balance at end of period	$	51,640		$	1,026	$	52,666		$	57,555		$	63,305

Allowance for off-balance sheet items:
Balance at beginning of period	$	1,248		$	—	$	1,248		$	1,824		$	2,981
Provision (negative provision) charged to operating expense		118			—		118			(576	)		(1,157	)

Balance at end of period	$	1,366		$	—	$	1,366		$	1,248		$	1,824

Allowance for Loan Losses by Portfolio Segment

The following table details the information on the allowance for loan losses by portfolio segment for the years ended December 31, 2014 and 2013:


	Real Estate			Commercial and Industrial			Consumer			Unallocated			Total
	(In thousands)
December 31, 2014
Allowance for loan losses on Non-PCI loans:
Beginning balance	$	43,550		$	11,287		$	1,427		$	1,291		$	57,555
Charge-offs		(3,009	)		(3,881	)		(102	)		—			(6,992	)
Recoveries on loans previously charged off		4,348			3,801			212			—			8,361
(Negative provision) provision		(3,695	)		(2,065	)		(1,317	)		(207	)		(7,284	)

Ending balance	$	41,194		$	9,142		$	220		$	1,084		$	51,640

Ending balance: individually evaluated for impairment	$	2,517		$	2,729		$	—		$	—		$	5,246

Ending balance: collectively evaluated for impairment	$	38,677		$	6,413		$	220		$	1,084		$	46,394

Non-PCI loans receivable:
Ending balance	$	2,464,386		$	248,862		$	27,512		$	—		$	2,740,760

Ending balance: individually evaluated for impairment	$	32,497		$	11,626		$	1,742		$	—		$	45,865

Ending balance: collectively evaluated for impairment	$	2,431,889		$	237,236		$	25,770		$	—		$	2,694,895

Allowance for loan losses on PCI loans:
Beginning balance	$	—		$	—		$	—		$	—		$	—
Provision		895			131			—			—			1,026

Ending balance: acquired with deteriorated credit quality	$	895		$	131		$	—		$	—		$	1,026

PCI loans receivable:
Ending balance: acquired with deteriorated credit quality	$	44,129		$	327		$	45		$	—		$	44,501

December 31, 2013
Allowance for loan losses on Non-PCI loans:
Beginning balance	$	49,472		$	10,636		$	2,280		$	917		$	63,305
Charge-offs		(4,614	)		(6,981	)		(267	)		—			(11,862	)
Recoveries on loans previously charged off		2,934			2,433			169			—			5,536
Provision (negative provision)		(4,242	)		5,199			(755	)		374			576

Ending balance	$	43,550		$	11,287		$	1,427		$	1,291		$	57,555

Ending balance: individually evaluated for impairment	$	2,048		$	4,136		$	284		$	—		$	6,468

Ending balance: collectively evaluated for impairment	$	41,502		$	7,151		$	1,143		$	1,291		$	51,087

Non-PCI loans receivable:
Ending balance	$	1,969,798		$	231,786		$	32,505		$	—		$	2,234,089

Ending balance: individually evaluated for impairment	$	35,961		$	15,536		$	1,569		$	—		$	53,066

Ending balance: collectively evaluated for impairment	$	1,933,837		$	216,250		$	30,936		$	—		$	2,181,023

Credit Quality Indicators

Information on Impaired Loans, Disaggregated by Loan Class

The following table provides information on impaired loans (excluding PCI loans), 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, 2014
Real estate loans:
Commercial property
Retail	$	4,436	$	4,546	$	1,938	$	2,498	$	220	$	5,373	$	251
Hotel/motel		5,835		6,426		4,581		1,254		1,828		4,583		398
Gas station		8,974		9,594		8,526		448		150		11,281		787
Other		10,125		11,591		8,890		1,235		319		10,579		885
Residential property		3,127		3,268		3,127		—		—		2,924		115
Commercial and industrial loans:
Commercial term		7,614		8,133		2,999		4,615		2,443		9,458		566
Commercial lines of credit		466		575		466		—		—		1,205		66
International loans		3,546		3,546		2,628		918		286		1,736		33
Consumer loans		1,742		1,907		1,742		—		—		1,651		59

Total Non-PCI loans	$	45,865	$	49,586	$	34,897	$	10,968	$	5,246	$	48,790	$	3,160

December 31, 2013
Real estate loans:
Commercial property
Retail	$	6,244	$	6,332	$	3,767	$	2,477	$	305	$	4,342	$	166
Hotel/motel		6,200		6,940		4,668		1,532		1,183		5,125		530
Gas station		9,389		9,884		8,592		797		209		8,939		756
Other		11,451		12,882		9,555		1,896		351		10,014		1,047
Residential property		2,678		2,773		2,678		—		—		2,941		117
Commercial and industrial loans:
Commercial term		13,834		14,308		2,929		10,905		3,806		13,083		968
Commercial lines of credit		614		686		173		441		252		1,008		54
International loans		1,087		1,087		286		801		78		1,284		—
Consumer loans		1,569		1,671		644		925		284		1,612		71

Total Non-PCI loans	$	53,066	$	56,563	$	33,292	$	19,774	$	6,468	$	48,348	$	3,709

December 31, 2012
Real estate loans:
Commercial property
Retail	$	5,438	$	5,919	$	4,948	$	490	$	94	$	5,186	$	309
Hotel/motel		6,056		6,790		1,943		4,113		1,115		5,384		566
Gas station		8,844		9,239		4,079		4,765		413		9,807		768
Other		12,690		15,487		7,801		4,889		1,141		13,172		1,348
Construction		—		—		—		—		—		6,012		209
Residential property		3,265		3,308		1,866		1,399		94		3,268		164
Commercial and industrial loans:
Commercial term		15,278		17,403		6,896		8,382		2,529		15,010		1,039
Commercial lines of credit		1,521		1,704		848		673		230		1,688		65
Consumer loans		1,652		1,711		449		1,203		615		1,205		73

Total Non-PCI loans	$	54,744	$	61,561	$	28,830	$	25,914	$	6,231	$	60,732	$	4,541

Summary of Interest Foregone on Impaired Loans

The following is a summary of interest foregone on impaired loans (excluding PCI loans) for the periods indicated:


	Year Ended December 31,
	2014			2013			2012
	(In thousands)
Interest income that would have been recognized had impaired loans performed in accordance with their original terms	$	4,468		$	4,451		$	5,887
Less: Interest income recognized on impaired loans		(3,160	)		(3,708	)		(4,541	)

Interest foregone on impaired loans	$	1,308		$	743		$	1,346

Non-Accrual Loans, Disaggregated by Loan Class

The following table details nonaccrual loans (excluding PCI loans), disaggregated by loan class, as of the dates indicated:


	As of December 31,
	2014		2013
	(In thousands)
Real estate loans:
Commercial property
Retail	$	2,160	$	2,946
Hotel/motel		3,835		5,200
Gas station		3,478		2,492
Other		4,961		4,808
Residential property		1,588		1,365
Commercial and industrial loans:
Commercial term		7,052		7,146
Commercial lines of credit		466		423
Consumer loans		1,742		1,497

Total nonaccrual Non-PCI loans	$	25,282	$	25,877

Non-Performing Assets

The following table details nonperforming assets (excluding PCI loans) as of the dates indicated:


	As of December 31,
	2014		2013
	(In thousands)
Nonaccrual Non-PCI loans	$	25,282	$	25,877
Loans 90 days or more past due and still accruing		—		—

Total nonperforming Non-PCI loans		25,282		25,877
Other real estate owned		15,790		756

Total nonperforming assets	$	41,072	$	26,633

Troubled Debt Restructurings, Disaggregated by Type of Concession and by Loan Type

The following table details TDRs (excluding PCI loans), disaggregated by concession type and by loan type, as of December 31, 2014, 2013 and 2012:


	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, 2014
Real estate loans:
Commercial property
Retail	$	—	$	—		$	—	$	2,032	$	2,032	$	306	$	—	$	—	$	—	$	306
Hotel/motel		1,115		(53	)		—		—		1,062		1,807		—		—		—		1,807
Gas station		1,075		—			—		—		1,075		2,335		—		—		—		2,335
Other		943		1,498			433		24		2,898		2,343		—		782		1,372		4,497
Residential property		742		—			—		—		742		—		—		—		308		308
Commercial and industrial loans:
Commercial term		14		(1	)		2,556		1,481		4,050		57		226		567		1,358		2,208
Commercial lines of credit		227		—			126		113		466		2,156		—		—		—		2,156
International loans		—		—			—		—		—		—		—		200		—		200
Consumer loans		—		—			131		—		131		—		—		—		—		—

Total Non-PCI loans	$	4,116	$	1,444		$	3,246	$	3,650	$	12,456	$	9,004	$	226	$	1,549	$	3,038	$	13,817

December 31, 2013
Real estate loans:
Commercial property
Retail	$	—	$	—		$	—	$	750	$	750	$	—	$	—	$	—	$	474	$	474
Hotel/motel		1,272		758			—		—		2,030		1,000		—		—		—		1,000
Gas station		1,291		—			729		—		2,020		365		—		—		2,609		2,974
Other		403		1,279			555		—		2,237		2,956		—		1,253		2,027		6,236
Residential property		795		—			—		—		795		—		—		—		—		—
Commercial and industrial loans:
Commercial term		25		206			1,449		851		2,531		1,203		—		2,286		3,817		7,306
Commercial lines of credit		—		—			—		173		173		—		—		191		—		191
International loans		—		—			—		—		—		—		—		1,087		—		1,087
Consumer loans		—		—			—		—		—		—		—		149		—		149

Total Non-PCI loans	$	3,786	$	2,243		$	2,733	$	1,774	$	10,536	$	5,524	$	—	$	4,966	$	8,927	$	19,417

December 31, 2012
Real estate loans:
Commercial property
Retail	$	2,018	$	—		$	—	$	1,079	$	3,097	$	357	$	—	$	—	$	665	$	1,022
Hotel/motel		1,340		931			—		—		2,271		2,287		—		—		—		2,287
Gas station		1,348		—			—		—		1,348		372		—		—		2,666		3,038
Other		442		1,681			521		—		2,644		2,684		—		448		1,391		4,523
Residential property		827		—			—		—		827		—		572		—		—		572
Commercial and industrial loans:
Commercial term		—		676			5,387		1,415		7,478		1,088		—		1,190		3,260		5,538
Commercial lines of credit		673		—			188		243		1,104		—		—		—		—		—

Total Non-PCI loans	$	6,648	$	3,288		$	6,096	$	2,737	$	18,769	$	6,788	$	572	$	1,638	$	7,982	$	16,980

Troubled Debt Restructurings, Disaggregated by Loan Class

The following table details TDRs (excluding PCI loans), disaggregated by loan class, for the years ended December 31, 2014, 2013 and 2012:


	December 31, 2014						December 31, 2013						December 31, 2012
	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 number of loans)
Real estate loans:
Commercial property
Retail ⁽¹⁾		2	$	2,205	$	2,032		—	$	—	$	—		3	$	1,068	$	1,023
Hotel/motel ⁽²⁾		1		832		821		1		1,000		1,000		3		2,402		2,305
Gas station ⁽³⁾		1		2,040		1,979		3		903		819		2		1,839		1,720
Other ⁽⁴⁾		3		1,422		1,352		4		1,853		1,796		6		4,386		4,176
Residential property ⁽⁵⁾		1		317		308		—		—		—		—		—		—
Commercial and industrial loans:
Commercial term ⁽⁶⁾		5		721		629		20		4,068		3,534		44		6,423		5,634
Commercial lines of credit ⁽⁷⁾		3		2,366		2,509		2		220		191		1		202		188
International loans ⁽⁸⁾		1		480		200		2		1,584		1,087		—		—		—
Consumer loans ⁽⁹⁾		—		—		—		1		149		149		—		—		—

Total Non-PCI loans		17	$	10,383	$	9,830		33	$	9,777	$	8,576		59	$	16,320	$	15,046

⁽¹⁾

Includes modifications of $2.0 million through payment deferrals for the year ended December 31, 2014, and modifications of $357,000 through a payment deferral and $665,000 through extensions of maturity for the year ended December 31, 2012.

⁽²⁾

Includes a modification of $821,000 through a payment deferral for the year ended December 31, 2014, a modification of $1.0 million through a payment deferral for the year ended December 31, 2013, and modifications of $2.3 million through payment deferrals and $18,000 through a reduction of principal or accrued interest for the year ended December 31, 2012.

⁽³⁾

Includes a modification of $2.0 million through a payment deferral for the year ended December 31, 2014, modifications of $90,000 through a payment deferral and $729,000 through reductions of principal or accrued interest for the year ended December 31, 2013, and modifications of $1.7 million through payment deferrals for the year ended December 31, 2012.

⁽⁴⁾

Includes modifications of $943,000 through a payment deferral, $385,000 through a reduction of principal or accrued interest and $24,000 through an extension of maturity for the year ended December 31, 2014, modifications of $365,000 through a payment deferral, $785,000 through reductions of principal or accrued interest and $645,000 through an extension of maturity for the year ended December 31, 2013, and modifications of $2.3 million through payments deferrals, $520,000 through reductions of principal or accrued interest and $1.4 million through an extension of maturities for the year ended December 31, 2012.

⁽⁵⁾

Includes a modification of $308,000 through an extension of maturity for the year ended December 31, 2014.

⁽⁶⁾

Includes modifications of $184,000 through reductions of principal or accrued interest and $445,000 through extensions of maturity for the year ended December 31, 2014, modifications of $386,000 through payment deferrals, $733,000 through reductions of principal or accrued interest and $2.5 million through extensions of maturity for the year ended December 31, 2013, and modifications of $1.0 million through payment deferrals, $968,000 through reductions of principal or accrued interest and $3.6 million through extensions of maturity for the year ended December 31, 2012.

⁽⁷⁾

Includes modifications of $2.4 million through payment deferrals and $126,000 through a reduction of principal or accrued interest for the year ended December 31, 2014, modifications of $191,000 through reductions of principal or accrued interest for the year ended December 31, 2013, and a modification of $188,000 through a reduction of principal or accrued interest for the year ended December 31, 2012.

⁽⁸⁾

Includes modifications of $200,000 through a reduction of principal or accrued interest for the year ended December 31, 2014, and modifications of $1.1 million through reductions of principal or accrued interest for the year ended December 31, 2013.

⁽⁹⁾

Includes a modification of $149,000 through a reduction of principal or accrued interest for the year ended December 31, 2012.

Troubled Debt Restructurings that Defaulted Subsequent to Modifications Occurring Within Previous Twelve Months, Disaggregated by Loan Class

The following table details TDRs (excluding PCI loans) that defaulted subsequent to the modifications occurring within the previous twelve months, disaggregated by loan class, for years ended December 31, 2014, 2013 and 2012, respectively:


	For the Year Ended
	December 31, 2014				December 31, 2013				December 31, 2012
	Number of Loans		Recorded Investment		Number of Loans		Recorded Investment		Number of Loans		Recorded Investment
	(In thousands, except number of loans)
Real estate loans:
Commercial property
Retail		1	$	1,856		—	$	—		—	$	—
Gas station		—		—		1		90		—		—
Other		3		1,352		1		125		—		—
Commercial and industrial loans:
Commercial term		—		—		2		123		11		719
Commercial lines of credit		2		353		—		—		1		188

Total Non-PCI loans		6	$	3,561		4	$	338		12	$	907

Schedule of Changes in Carrying Value of PCI Loans

The following table summarizes the changes in carrying value of PCI loans during the year ended December 31, 2014:


	Carrying			Accretable
	Amount			Yield
	(In thousands)
Balance at January 1, 2014	$	—		$	—
Additions from CBI acquisition at August 31, 2014		65,346			(10,856	)
Accretion		1,448			1,448
Payments received		(17,803	)		—
Disposal/transfers to OREO		(4,490	)		—
Increase in expected cash flows, net		—			(1,617	)
Provision for credit losses		(1,026	)		—

Balance at December 31, 2014	$	43,475		$	(11,025	)

Changes in Servicing Assets and Liabilities

Servicing Assets & Liabilities

The changes in servicing assets and liabilities for the years ended December 31, 2014 and 2013 were as follows:


	As of December 31,
	2014			2013
	(In thousands)
Servicing assets:
Balance at beginning of period	$	6,833		$	5,542
Additions from CBI acquisition		7,497			—
Addition related to sale of SBA loans		1,332			2,754
Amortization		(1,889	)		(1,463	)

Balance at end of period	$	13,773		$	6,833

Servicing liabilities:
Balance at beginning of period	$	106		$	120
Additions from CBI acquisition		6,039			—
Amortization		(174	)		(14	)

Balance at end of period	$	5,971		$	106

Non-PCI Loans [Member]

Credit Quality of Loan Portfolio

As of December 31, 2014 and 2013, pass/pass-watch, special mention and classified (substandard and doubtful) loans (excluding PCI loans), disaggregated by loan class, were as follows:


	Pass/Pass-Watch		Special Mention		Classified		Total
	(In thousands)
December 31, 2014
Real estate loans:
Commercial property
Retail	$	654,360	$	18,013	$	2,699	$	675,072
Hotel/motel		397,437		46,365		10,697		454,499
Gas station		345,775		8,899		7,566		362,240
Other		822,037		9,543		10,546		842,126
Construction		9,517		—		—		9,517
Residential property		118,688		66		2,178		120,932
Commercial and industrial loans:
Commercial term		106,326		1,225		8,522		116,073
Commercial lines of credit		92,312		993		555		93,860
International loans		36,121		252		2,556		38,929
Consumer loans		25,313		131		2,068		27,512

Total Non-PCI loans	$	2,607,886	$	85,487	$	47,387	$	2,740,760

December 31, 2013
Real estate loans:
Commercial property
Retail	$	531,014	$	5,309	$	7,296	$	543,619
Hotel/motel		308,483		1,796		12,648		322,927
Gas station		279,636		3,104		9,817		292,557
Other		690,481		8,524		32,612		731,617
Residential property		77,422		—		1,656		79,078
Commercial and industrial loans:
Commercial term		107,712		2,007		14,672		124,391
Commercial lines of credit		69,823		—		1,219		71,042
International loans		35,777		576		—		36,353
Consumer loans		30,044		163		2,298		32,505

Total Non-PCI loans	$	2,130,392	$	21,479	$	82,218	$	2,234,089

Analysis of Gross Loans, Disaggregated by Loan Class

The following is an aging analysis of gross loans (excluding PCI 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		Accruing 90 Days or More Past Due
	(In thousands)
December 31, 2014
Real estate loans:
Commercial property
Retail	$	1,554	$	281	$	1,920	$	3,755	$	671,317	$	675,072	$	—
Hotel/motel		1,531		2,340		433		4,304		450,195		454,499		—
Gas station		2,991		1,113		353		4,457		357,783		362,240		—
Other		1,674		2,156		1,142		4,972		837,154		842,126		—
Construction		—		—		—		—		9,517		9,517		—
Residential property		167		—		687		854		120,078		120,932		—
Commercial and industrial loans:
Commercial term		1,107		490		2,847		4,444		111,629		116,073		—
Commercial lines of credit		—		—		227		227		93,633		93,860		—
International loans		200		—		—		200		38,729		38,929		—
Consumer loans		489		349		248		1,086		26,426		27,512		—

Total Non-PCI loans	$	9,713	$	6,729	$	7,857	$	24,299	$	2,716,461	$	2,740,760	$	—

December 31, 2013
Real estate loans:
Commercial property
Retail	$	202	$	426	$	2,196	$	2,824	$	540,794	$	543,618	$	—
Hotel/motel		1,087		—		1,532		2,619		320,308		322,927		—
Gas station		141		410		153		704		291,853		292,557		—
Other		423		2,036		839		3,298		728,320		731,618		—
Residential property		—		122		279		401		78,677		79,078		—
Commercial and industrial loans:
Commercial term		1,443		886		3,269		5,598		118,793		124,391		—
Commercial lines of credit		—		150		250		400		70,642		71,042		—
International loans		—		—		—		—		36,353		36,353		—
Consumer loans		311		42		77		430		32,075		32,505		—

Total Non-PCI loans	$	3,607	$	4,072	$	8,595	$	16,274	$	2,217,815	$	2,234,089	$	—

PCI Loans [Member]

Credit Quality of Loan Portfolio

As of December 31, 2014, pass/pass-watch, special mention and classified (substandard and doubtful) PCI loans, disaggregated by loan class, were as follows:


	As of December 31, 2014
									Allowance		Total
	Pass/Pass-Watch		Special Mention		Classified		Total		Amount		PCI Loans
	(In thousands)
Real estate loans:
Commercial property
Retail	$	1,207	$	219	$	7,109	$	8,535	$	401	$	8,134
Hotel/motel		—		—		7,682		7,682		99		7,583
Gas station		—		1,242		6,503		7,745		302		7,443
Other		—		—		5,796		5,796		65		5,731
Residential property		—		—		14,371		14,371		28		14,343
Commercial and industrial loans:
Commercial term		—		—		327		327		131		196
Consumer loans		—		—		45		45		—		45

Total PCI loans	$	1,207	$	1,461	$	41,833	$	44,501	$	1,026	$	43,475

Analysis of Gross Loans, Disaggregated by Loan Class

The following table presents a summary of the borrowers’ underlying payment status of PCI loans 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		Allowance Amount		Total PCI Loans
	(In thousands)
December 31, 2014
Real estate loans:
Commercial property
Retail	$	93	$	287	$	3,815	$	4,195	$	4,340	$	8,535	$	401	$	8,134
Hotel/motel		312		—		2,490		2,802		4,880		7,682		99		7,583
Gas station		1,139		1,053		3,178		5,370		2,375		7,745		302		7,443
Other		—		—		5,235		5,235		561		5,796		65		5,731
Residential property		—		—		13,594		13,594		777		14,371		28		14,343
Commercial and industrial loans:
Commercial term		30		—		135		165		162		327		131		196
Consumer loans		—		17		28		45		—		45		—		45

Total PCI loans	$	1,574	$	1,357	$	28,475	$	31,406	$	13,095	$	44,501	$	1,026	$	43,475