Loans and Leases (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
|---|
| Receivables [Abstract] |
|
| Loans Receivable |
Loans and leases receivable consisted of the following as of the dates indicated:
|
|
|
December 31,
|
|
|
|
|
2019
|
|
|
2018
|
|
|
|
|
(in thousands)
|
|
|
Real estate loans:
|
|
|
|
|
|
|
|
|
|
Commercial property
|
|
|
|
|
|
|
|
|
|
Retail
|
|
$
|
869,302
|
|
|
$
|
906,260
|
|
|
Hospitality
|
|
|
922,288
|
|
|
|
830,679
|
|
|
Other (1)
|
|
|
1,358,432
|
|
|
|
1,449,270
|
|
|
Total commercial property loans
|
|
|
3,150,022
|
|
|
|
3,186,209
|
|
|
Construction
|
|
|
76,455
|
|
|
|
71,583
|
|
|
Residential property
|
|
|
402,028
|
|
|
|
500,563
|
|
|
Total real estate loans
|
|
|
3,628,505
|
|
|
|
3,758,355
|
|
|
Commercial and industrial loans:
|
|
|
|
|
|
|
|
|
|
Commercial term
|
|
|
227,652
|
|
|
|
206,691
|
|
|
Commercial lines of credit
|
|
|
228,033
|
|
|
|
194,032
|
|
|
International loans
|
|
|
28,409
|
|
|
|
29,180
|
|
|
Total commercial and industrial loans
|
|
|
484,093
|
|
|
|
429,903
|
|
|
Leases receivable
|
|
|
483,879
|
|
|
|
398,858
|
|
|
Consumer loans (2)
|
|
|
13,670
|
|
|
|
13,424
|
|
|
Loans and leases receivable
|
|
|
4,610,147
|
|
|
|
4,600,540
|
|
|
Allowance for loan and lease losses
|
|
|
(61,408
|
)
|
|
|
(31,974
|
)
|
|
Loans and leases receivable, net
|
|
$
|
4,548,739
|
|
|
$
|
4,568,566
|
|
|
(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 and leases.
|
|
(2)
|
Consumer loans include home equity lines of credit of $8.2 million and $10.3 million as of December 31, 2019 and 2018, respectively.
|
|
| Loans Receivable to 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, 2019 and 2018:
|
|
|
Real Estate
|
|
|
Commercial
and Industrial
|
|
|
Total
|
|
|
|
|
(in thousands)
|
|
|
December 31, 2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at beginning of period
|
|
$
|
5,194
|
|
|
$
|
4,196
|
|
|
$
|
9,390
|
|
|
Originations
|
|
|
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
|
|
|
December 31, 2018
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at beginning of period
|
|
$
|
3,746
|
|
|
$
|
2,648
|
|
|
$
|
6,394
|
|
|
Originations
|
|
|
39,243
|
|
|
|
39,903
|
|
|
|
79,146
|
|
|
Sales
|
|
|
(37,790
|
)
|
|
|
(38,161
|
)
|
|
|
(75,951
|
)
|
|
Principal paydowns and amortization
|
|
|
(5
|
)
|
|
|
(194
|
)
|
|
|
(199
|
)
|
|
Balance at end of period
|
|
$
|
5,194
|
|
|
$
|
4,196
|
|
|
$
|
9,390
|
|
|
| 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 Year Ended December 31,
|
|
|
|
|
2019
|
|
|
2018
|
|
|
2017
|
|
|
|
|
(in thousands)
|
|
|
Allowance for loan losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance at beginning of period
|
|
$
|
31,974
|
|
|
$
|
31,043
|
|
|
$
|
32,429
|
|
|
Loans and leases charged off
|
|
|
(4,588
|
)
|
|
|
(7,310
|
)
|
|
|
(5,899
|
)
|
|
Recoveries on loans and leases previously charged off
|
|
|
3,852
|
|
|
|
4,251
|
|
|
|
3,682
|
|
|
Net charge-offs
|
|
|
(736
|
)
|
|
|
(3,059
|
)
|
|
|
(2,217
|
)
|
|
Loan and lease loss provision
|
|
|
30,170
|
|
|
|
3,990
|
|
|
|
831
|
|
|
Balance at end of period
|
|
$
|
61,408
|
|
|
$
|
31,974
|
|
|
$
|
31,043
|
|
|
| Allowance for Loan Losses by Portfolio Segment |
The following table details the information on the allowance for loan and lease losses by portfolio segment for the years ended December 31, 2019 and 2018:
|
|
|
Real
Estate
|
|
|
Commercial
and
Industrial
|
|
|
Leases
Receivable
|
|
|
Consumer
|
|
|
Unallocated
|
|
|
Total
|
|
|
|
|
(in thousands)
|
|
|
December 31, 2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan and lease losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning balance
|
|
$
|
18,384
|
|
|
$
|
7,162
|
|
|
$
|
6,303
|
|
|
$
|
98
|
|
|
$
|
27
|
|
|
$
|
31,974
|
|
|
Less loans and leases charged off
|
|
|
(131
|
)
|
|
|
(1,293
|
)
|
|
|
(3,162
|
)
|
|
|
(1
|
)
|
|
|
—
|
|
|
|
(4,588
|
)
|
|
Recoveries on loans and leases previously charged off
|
|
|
2,190
|
|
|
|
1,241
|
|
|
|
422
|
|
|
|
0
|
|
|
|
—
|
|
|
|
3,852
|
|
|
Loan and lease loss provision
|
|
|
15,913
|
|
|
|
9,097
|
|
|
|
5,205
|
|
|
|
(17
|
)
|
|
|
(27
|
)
|
|
|
30,170
|
|
|
Ending balance
|
|
$
|
36,355
|
|
|
$
|
16,206
|
|
|
$
|
8,767
|
|
|
$
|
80
|
|
|
$
|
—
|
|
|
$
|
61,408
|
|
|
Individually evaluated for impairment
|
|
$
|
14,028
|
|
|
$
|
8,885
|
|
|
$
|
2,863
|
|
|
$
|
1
|
|
|
$
|
—
|
|
|
$
|
25,778
|
|
|
Collectively evaluated for impairment
|
|
$
|
22,327
|
|
|
$
|
7,321
|
|
|
$
|
5,904
|
|
|
$
|
79
|
|
|
$
|
—
|
|
|
$
|
35,631
|
|
|
Loans and leases receivable
|
|
$
|
3,628,505
|
|
|
$
|
484,093
|
|
|
$
|
483,879
|
|
|
$
|
13,670
|
|
|
$
|
—
|
|
|
$
|
4,610,147
|
|
|
Individually evaluated for impairment
|
|
$
|
43,867
|
|
|
$
|
13,700
|
|
|
$
|
5,902
|
|
|
$
|
1,297
|
|
|
$
|
—
|
|
|
$
|
64,766
|
|
|
Collectively evaluated for impairment
|
|
$
|
3,584,638
|
|
|
$
|
470,393
|
|
|
$
|
477,977
|
|
|
$
|
12,373
|
|
|
$
|
—
|
|
|
$
|
4,545,382
|
|
|
December 31, 2018
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan and lease losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning balance
|
|
$
|
17,012
|
|
|
$
|
7,400
|
|
|
$
|
6,279
|
|
|
$
|
122
|
|
|
$
|
230
|
|
|
$
|
31,043
|
|
|
Less loans and leases charged off
|
|
|
(3,897
|
)
|
|
|
(815
|
)
|
|
|
(2,598
|
)
|
|
|
—
|
|
|
|
—
|
|
|
|
(7,310
|
)
|
|
Recoveries on loans and leases previously charged off
|
|
|
2,512
|
|
|
|
1,369
|
|
|
|
368
|
|
|
|
2
|
|
|
|
—
|
|
|
|
4,251
|
|
|
Loan and lease loss provision
|
|
|
2,757
|
|
|
|
(792
|
)
|
|
|
2,254
|
|
|
|
(26
|
)
|
|
|
(203
|
)
|
|
|
3,990
|
|
|
Ending balance
|
|
$
|
18,384
|
|
|
$
|
7,162
|
|
|
$
|
6,303
|
|
|
$
|
98
|
|
|
$
|
27
|
|
|
$
|
31,974
|
|
|
Individually evaluated for impairment
|
|
$
|
1
|
|
|
$
|
428
|
|
|
$
|
1,383
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,812
|
|
|
Collectively evaluated for impairment
|
|
$
|
18,383
|
|
|
$
|
6,734
|
|
|
$
|
4,920
|
|
|
$
|
98
|
|
|
$
|
27
|
|
|
$
|
30,162
|
|
|
Loans and leases receivable
|
|
$
|
3,758,355
|
|
|
$
|
429,903
|
|
|
$
|
398,858
|
|
|
$
|
13,424
|
|
|
$
|
—
|
|
|
$
|
4,600,540
|
|
|
Individually evaluated for impairment
|
|
$
|
14,761
|
|
|
$
|
4,396
|
|
|
$
|
5,129
|
|
|
$
|
839
|
|
|
$
|
—
|
|
|
$
|
25,125
|
|
|
Collectively evaluated for impairment
|
|
$
|
3,743,594
|
|
|
$
|
425,507
|
|
|
$
|
393,729
|
|
|
$
|
12,585
|
|
|
$
|
—
|
|
|
$
|
4,575,415
|
|
|
| Credit Quality of Loan Portfolio |
As of December 31, 2019 and 2018, the recorded investment in pass/pass-watch, special mention and classified (substandard, doubtful and loss) loans and leases, disaggregated by loan class, were as follows:
|
|
|
Pass/Pass-
Watch
|
|
|
Special
Mention
|
|
|
Classified
|
|
|
Total
|
|
|
|
|
(in thousands)
|
|
|
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 property
|
|
|
398,737
|
|
|
|
2,512
|
|
|
|
779
|
|
|
|
402,028
|
|
|
Total real estate loans
|
|
|
3,541,082
|
|
|
|
15,705
|
|
|
|
71,718
|
|
|
|
3,628,505
|
|
|
Commercial and industrial loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial term
|
|
|
210,026
|
|
|
|
2,139
|
|
|
|
15,487
|
|
|
|
227,652
|
|
|
Commercial lines of credit
|
|
|
222,348
|
|
|
|
5,485
|
|
|
|
200
|
|
|
|
228,033
|
|
|
International loans
|
|
|
25,810
|
|
|
|
2,598
|
|
|
|
—
|
|
|
|
28,409
|
|
|
Total commercial and industrial loans
|
|
|
458,184
|
|
|
|
10,222
|
|
|
|
15,687
|
|
|
|
484,093
|
|
|
Leases receivable
|
|
|
477,977
|
|
|
|
—
|
|
|
|
5,902
|
|
|
|
483,879
|
|
|
Consumer loans
|
|
|
12,247
|
|
|
|
705
|
|
|
|
718
|
|
|
|
13,670
|
|
|
Total loans and leases receivable
|
|
$
|
4,489,491
|
|
|
$
|
26,632
|
|
|
$
|
94,025
|
|
|
$
|
4,610,147
|
|
|
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 recorded investment in 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)
|
|
|
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 property
|
|
|
540
|
|
|
|
1,627
|
|
|
|
309
|
|
|
|
2,477
|
|
|
|
399,551
|
|
|
|
402,028
|
|
|
Total real estate loans
|
|
|
1,504
|
|
|
|
1,759
|
|
|
|
458
|
|
|
|
3,721
|
|
|
|
3,624,784
|
|
|
|
3,628,505
|
|
|
Commercial and industrial loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial term
|
|
|
635
|
|
|
|
133
|
|
|
|
143
|
|
|
|
911
|
|
|
|
226,742
|
|
|
|
227,652
|
|
|
Commercial lines of credit
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
228,033
|
|
|
|
228,033
|
|
|
International loans
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
28,409
|
|
|
|
28,409
|
|
|
Total 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
|
|
|
Consumer loans
|
|
|
—
|
|
|
|
30
|
|
|
|
—
|
|
|
|
30
|
|
|
|
13,639
|
|
|
|
13,670
|
|
|
Total loans and leases receivable
|
|
$
|
7,497
|
|
|
$
|
4,060
|
|
|
$
|
4,094
|
|
|
$
|
15,652
|
|
|
$
|
4,594,496
|
|
|
$
|
4,610,147
|
|
|
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 and Leases, Disaggregated by Loan Class |
The following table provides 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
|
|
|
Average
Recorded
Investment
|
|
|
Interest
Income
Recognized
|
|
|
|
|
(in thousands)
|
|
|
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 property
|
|
|
1,124
|
|
|
|
1,163
|
|
|
|
1,089
|
|
|
|
35
|
|
|
|
—
|
|
|
|
1,356
|
|
|
|
29
|
|
|
Total real estate loans
|
|
|
43,867
|
|
|
|
45,173
|
|
|
|
15,918
|
|
|
|
27,949
|
|
|
|
14,028
|
|
|
|
32,973
|
|
|
|
459
|
|
|
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
|
|
|
Consumer loans
|
|
|
1,297
|
|
|
|
1,588
|
|
|
|
1,220
|
|
|
|
77
|
|
|
|
1
|
|
|
|
1,489
|
|
|
|
37
|
|
|
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 property
|
|
|
788
|
|
|
|
929
|
|
|
|
788
|
|
|
|
—
|
|
|
|
—
|
|
|
|
1,932
|
|
|
|
91
|
|
|
Total real estate loans
|
|
|
14,761
|
|
|
|
16,925
|
|
|
|
12,967
|
|
|
|
1,794
|
|
|
|
1
|
|
|
|
19,196
|
|
|
|
1,357
|
|
|
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
|
|
|
Consumer loans
|
|
|
839
|
|
|
|
1,073
|
|
|
|
746
|
|
|
|
93
|
|
|
|
—
|
|
|
|
1,020
|
|
|
|
60
|
|
|
Total
|
|
$
|
25,125
|
|
|
$
|
27,761
|
|
|
$
|
16,613
|
|
|
$
|
8,512
|
|
|
$
|
1,812
|
|
|
$
|
29,013
|
|
|
$
|
1,674
|
|
|
December 31, 2017
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial property
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retail
|
|
$
|
1,403
|
|
|
$
|
1,423
|
|
|
$
|
1,246
|
|
|
$
|
157
|
|
|
$
|
1
|
|
|
$
|
1,528
|
|
|
$
|
106
|
|
|
Hospitality
|
|
|
6,184
|
|
|
|
7,220
|
|
|
|
2,144
|
|
|
|
4,040
|
|
|
|
1,677
|
|
|
|
6,080
|
|
|
|
431
|
|
|
Other
|
|
|
8,513
|
|
|
|
9,330
|
|
|
|
7,569
|
|
|
|
944
|
|
|
|
394
|
|
|
|
9,551
|
|
|
|
842
|
|
|
Total commercial property loans
|
|
|
16,100
|
|
|
|
17,973
|
|
|
|
10,959
|
|
|
|
5,141
|
|
|
|
2,072
|
|
|
|
17,159
|
|
|
|
1,379
|
|
|
Construction
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
Residential property
|
|
|
2,563
|
|
|
|
2,728
|
|
|
|
824
|
|
|
|
1,739
|
|
|
|
21
|
|
|
|
2,771
|
|
|
|
122
|
|
|
Total real estate loans
|
|
|
18,663
|
|
|
|
20,701
|
|
|
|
11,783
|
|
|
|
6,880
|
|
|
|
2,093
|
|
|
|
19,930
|
|
|
|
1,501
|
|
|
Commercial and industrial loans
|
|
|
3,040
|
|
|
|
3,081
|
|
|
|
1,069
|
|
|
|
1,971
|
|
|
|
441
|
|
|
|
4,214
|
|
|
|
208
|
|
|
Leases receivable
|
|
|
4,452
|
|
|
|
4,626
|
|
|
|
455
|
|
|
|
3,997
|
|
|
|
3,334
|
|
|
|
4,464
|
|
|
|
47
|
|
|
Consumer loans
|
|
|
1,029
|
|
|
|
1,215
|
|
|
|
919
|
|
|
|
110
|
|
|
|
10
|
|
|
|
982
|
|
|
|
33
|
|
|
Total
|
|
$
|
27,184
|
|
|
$
|
29,623
|
|
|
$
|
14,226
|
|
|
$
|
12,958
|
|
|
$
|
5,878
|
|
|
$
|
29,590
|
|
|
$
|
1,789
|
|
|
| Summary of Interest Foregone on Impaired Loans and Leases |
The following is a summary of interest foregone on impaired loans and leases for the periods indicated:
|
|
|
Year Ended December 31,
|
|
|
|
|
2019
|
|
|
2018
|
|
|
2017
|
|
|
|
|
(in thousands)
|
|
|
Interest income that would have been recognized had impaired loans and leases performed in accordance with their original terms
|
|
$
|
3,439
|
|
|
$
|
2,808
|
|
|
$
|
2,575
|
|
|
Less: Interest income recognized on impaired loans and leases
|
|
|
(1,279
|
)
|
|
|
(1,674
|
)
|
|
|
(1,790
|
)
|
|
Interest foregone on impaired loans and leases
|
|
$
|
2,160
|
|
|
$
|
1,134
|
|
|
$
|
785
|
|
|
| Non-Accrual Loans, Disaggregated by Loan Class |
The following table details the recorded investment in nonaccrual loans and leases, disaggregated by loan class, as of the dates indicated:
|
|
|
As of December 31,
|
|
|
|
|
2019
|
|
|
2018
|
|
|
|
|
(in thousands)
|
|
|
Real estate loans:
|
|
|
|
|
|
|
|
|
|
Commercial property
|
|
|
|
|
|
|
|
|
|
Retail
|
|
$
|
277
|
|
|
$
|
865
|
|
|
Hospitality
|
|
|
225
|
|
|
|
3,625
|
|
|
Other
|
|
|
14,864
|
|
|
|
1,641
|
|
|
Total commercial property loans
|
|
|
15,366
|
|
|
|
6,131
|
|
|
Construction
|
|
|
27,201
|
|
|
|
—
|
|
|
Residential property
|
|
|
1,124
|
|
|
|
182
|
|
|
Total real estate loans
|
|
|
43,691
|
|
|
|
6,313
|
|
|
Commercial and industrial loans
|
|
|
13,479
|
|
|
|
3,337
|
|
|
Leases receivable
|
|
|
5,902
|
|
|
|
5,129
|
|
|
Consumer loans
|
|
|
689
|
|
|
|
746
|
|
|
Total nonaccrual loans and leases
|
|
$
|
63,761
|
|
|
$
|
15,525
|
|
|
| Non-Performing Assets |
The following table details the recorded investment in nonperforming assets as of the dates indicated:
|
|
|
As of December 31,
|
|
|
|
|
2019
|
|
|
2018
|
|
|
|
|
(in thousands)
|
|
|
Nonaccrual loans and leases
|
|
$
|
63,761
|
|
|
$
|
15,525
|
|
|
Loans and leases 90 days or more past due and still accruing
|
|
|
—
|
|
|
|
4
|
|
|
Total nonperforming loans and leases
|
|
|
63,761
|
|
|
|
15,529
|
|
|
Other real estate owned ("OREO")
|
|
|
63
|
|
|
|
663
|
|
|
Total nonperforming assets
|
|
$
|
63,824
|
|
|
$
|
16,192
|
|
|
| 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, 2019 and 2018:
|
|
|
Nonaccrual TDRs
|
|
|
Accrual TDRs
|
|
|
|
|
Deferral of
Principal
|
|
|
Deferral of
Principal
and/or
Interest
|
|
|
Reduction of
Principal
and/or Interest
|
|
|
Extension
of
Maturity
|
|
|
Total
|
|
|
Deferral of
Principal
|
|
|
Deferral of
Principal
and/or
Interest
|
|
|
Reduction of
Principal
and/or Interest
|
|
|
Extension of
Maturity
|
|
|
Total
|
|
|
|
|
(in thousands)
|
|
|
December 31, 2019
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans
|
|
$
|
—
|
|
|
$
|
132
|
|
|
$
|
27,740
|
|
|
$
|
13,926
|
|
|
$
|
41,798
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
Commercial and industrial loans
|
|
|
—
|
|
|
|
153
|
|
|
|
12,527
|
|
|
|
312
|
|
|
|
12,991
|
|
|
|
—
|
|
|
|
36
|
|
|
|
71
|
|
|
|
114
|
|
|
|
222
|
|
|
Consumer loans
|
|
|
689
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
689
|
|
|
|
531
|
|
|
|
—
|
|
|
|
77
|
|
|
|
—
|
|
|
|
608
|
|
|
Total loans
|
|
$
|
689
|
|
|
$
|
285
|
|
|
$
|
40,266
|
|
|
$
|
14,238
|
|
|
$
|
55,478
|
|
|
$
|
531
|
|
|
$
|
36
|
|
|
$
|
148
|
|
|
$
|
114
|
|
|
$
|
830
|
|
|
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 loans
|
|
$
|
1,473
|
|
|
$
|
1,530
|
|
|
$
|
843
|
|
|
$
|
430
|
|
|
$
|
4,276
|
|
|
$
|
3,345
|
|
|
$
|
166
|
|
|
$
|
1,627
|
|
|
$
|
891
|
|
|
$
|
6,029
|
|
|
| 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 year ending December 31, 2019, 2018, and 2017 with their pre- and post-modification recorded amounts.
|
|
|
December 31, 2019
|
|
|
December 31, 2018
|
|
|
December 31, 2017
|
|
|
|
|
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
|
|
|
$
|
40,743
|
|
|
$
|
41,798
|
|
|
|
-
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
|
2
|
|
|
$
|
182
|
|
|
$
|
184
|
|
|
Commercial and industrial loans
|
|
|
2
|
|
|
|
12,779
|
|
|
|
12,562
|
|
|
|
2
|
|
|
|
684
|
|
|
|
664
|
|
|
|
1
|
|
|
|
123
|
|
|
|
123
|
|
|
Consumer loans
|
|
|
1
|
|
|
|
549
|
|
|
|
531
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
1
|
|
|
|
820
|
|
|
|
811
|
|
|
Total loans
|
|
|
8
|
|
|
$
|
54,071
|
|
|
$
|
54,892
|
|
|
|
2
|
|
|
$
|
684
|
|
|
$
|
664
|
|
|
|
4
|
|
|
$
|
1,125
|
|
|
$
|
1,118
|
|
|