Loans and Leases (Tables)
|
9 Months Ended |
Sep. 30, 2019 |
|---|
| Receivables [Abstract] |
|
| Loans Receivable |
Loans and leases receivable consisted of the following as of the dates indicated:
|
|
|
|
|
|
|
|
|
|
September 30, 2019 |
|
December 31, 2018 |
|
(in thousands) |
Real estate loans: |
|
|
|
Commercial property |
|
|
|
Retail |
$ |
865,050 |
|
|
$ |
906,260 |
|
Hospitality |
850,869 |
|
|
830,679 |
|
Other (1)
|
1,417,062 |
|
|
1,449,270 |
|
Total commercial property loans |
3,132,981 |
|
|
3,186,209 |
|
Construction |
76,770 |
|
|
71,583 |
|
Residential property |
436,576 |
|
|
500,563 |
|
Total real estate loans |
3,646,327 |
|
|
3,758,355 |
|
Commercial and industrial loans: |
|
|
|
Commercial term |
188,090 |
|
|
206,691 |
|
Commercial lines of credit |
219,400 |
|
|
194,032 |
|
International loans |
33,719 |
|
|
29,180 |
|
Total commercial and industrial loans |
441,209 |
|
|
429,903 |
|
Leases receivable |
467,777 |
|
|
398,858 |
|
Consumer loans (2)
|
14,524 |
|
|
13,424 |
|
Loans and leases receivable |
4,569,837 |
|
|
4,600,540 |
|
Allowance for loan and lease losses |
(50,712 |
) |
|
(31,974 |
) |
Loans and leases receivable, net |
$ |
4,519,125 |
|
|
$ |
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 $8.6 million and $10.3 million as of September 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 September 30, 2019 and 2018:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SBA Loans Held for Sale |
|
Real Estate |
|
Commercial and Industrial |
|
Total |
|
(in thousands) |
September 30, 2019 |
|
|
|
|
|
Balance at beginning of period |
$ |
2,677 |
|
|
$ |
3,352 |
|
|
$ |
6,029 |
|
Originations |
11,502 |
|
|
13,354 |
|
|
24,856 |
|
Sales |
(11,557 |
) |
|
(12,729 |
) |
|
(24,286 |
) |
Principal paydowns and amortization |
— |
|
|
(1 |
) |
|
(1 |
) |
Balance at end of period |
$ |
2,622 |
|
|
$ |
3,976 |
|
|
$ |
6,598 |
|
|
|
|
|
|
|
September 30, 2018 |
|
|
|
|
|
Balance at beginning of period |
$ |
2,785 |
|
|
$ |
2,564 |
|
|
$ |
5,349 |
|
Originations |
5,408 |
|
|
13,469 |
|
|
18,877 |
|
Sales |
(6,453 |
) |
|
(13,299 |
) |
|
(19,752 |
) |
Principal paydowns and amortization |
(3 |
) |
|
(16 |
) |
|
(19 |
) |
Balance at end of period |
$ |
1,737 |
|
|
$ |
2,718 |
|
|
$ |
4,455 |
|
The following is the activity for SBA loans held for sale for the nine months ended September 30, 2019 and 2018:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SBA Loans Held for Sale |
|
Real Estate |
|
Commercial and Industrial |
|
Total |
|
(in thousands) |
September 30, 2019 |
|
|
|
|
|
Balance at beginning of period |
$ |
5,194 |
|
|
$ |
4,196 |
|
|
$ |
9,390 |
|
Originations |
27,215 |
|
|
25,164 |
|
|
52,379 |
|
Sales |
(29,786 |
) |
|
(25,370 |
) |
|
(55,156 |
) |
Principal paydowns and amortization |
(1 |
) |
|
(14 |
) |
|
(15 |
) |
Balance at end of period |
$ |
2,622 |
|
|
$ |
3,976 |
|
|
$ |
6,598 |
|
|
|
|
|
|
|
September 30, 2018 |
|
|
|
|
|
Balance at beginning of period |
$ |
3,746 |
|
|
$ |
2,648 |
|
|
$ |
6,394 |
|
Originations |
25,996 |
|
|
30,248 |
|
|
56,244 |
|
Sales |
(28,000 |
) |
|
(30,043 |
) |
|
(58,043 |
) |
Principal paydowns and amortization |
(5 |
) |
|
(135 |
) |
|
(140 |
) |
Balance at end of period |
$ |
1,737 |
|
|
$ |
2,718 |
|
|
$ |
4,455 |
|
|
| 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
September 30, |
|
As of and for the Nine Months Ended
September 30, |
|
2019 |
|
2018 |
|
2019 |
|
2018 |
|
(in thousands) |
Balance at beginning of period |
$ |
49,386 |
|
|
$ |
31,818 |
|
|
$ |
31,974 |
|
|
$ |
31,043 |
|
Loans and leases charged off |
(916 |
) |
|
(1,246 |
) |
|
(3,549 |
) |
|
(3,535 |
) |
Recoveries on loans and leases previously charged off |
640 |
|
|
904 |
|
|
2,869 |
|
|
3,219 |
|
Net (charge-offs) recoveries |
(276 |
) |
|
(342 |
) |
|
(680 |
) |
|
(316 |
) |
Loan and lease loss provision |
1,602 |
|
|
200 |
|
|
19,418 |
|
|
949 |
|
Balance at end of period |
$ |
50,712 |
|
|
$ |
31,676 |
|
|
$ |
50,712 |
|
|
$ |
31,676 |
|
|
| 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 September 30, 2019 and 2018:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate |
|
Commercial
and Industrial
|
|
Leases
Receivable
|
|
Consumer |
|
Unallocated |
|
Total |
|
(in thousands) |
As of and for the Three Months Ended September 30, 2019 |
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan and lease losses on loans and leases: |
|
|
|
|
|
|
|
|
|
|
|
Beginning balance |
$ |
34,004 |
|
|
$ |
9,235 |
|
|
6,068 |
|
|
$ |
79 |
|
|
$ |
— |
|
|
$ |
49,386 |
|
Less loans and leases charged off |
(17 |
) |
|
(244 |
) |
|
(653 |
) |
|
(2 |
) |
|
— |
|
|
(916 |
) |
Recoveries on loans and leases previously charged off |
142 |
|
|
381 |
|
|
117 |
|
|
— |
|
|
— |
|
|
640 |
|
Loan and lease loss provision |
2,272 |
|
|
(1,551 |
) |
|
886 |
|
|
(5 |
) |
|
— |
|
|
1,602 |
|
Ending balance |
$ |
36,401 |
|
|
$ |
7,821 |
|
|
$ |
6,418 |
|
|
$ |
72 |
|
|
$ |
— |
|
|
$ |
50,712 |
|
Individually evaluated for impairment |
$ |
14,781 |
|
|
$ |
1,270 |
|
|
$ |
1,049 |
|
|
$ |
1 |
|
|
$ |
— |
|
|
$ |
17,101 |
|
Collectively evaluated for impairment |
$ |
21,620 |
|
|
$ |
6,551 |
|
|
$ |
5,369 |
|
|
$ |
71 |
|
|
$ |
— |
|
|
$ |
33,611 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans and leases receivable: |
$ |
3,646,327 |
|
|
$ |
441,209 |
|
|
$ |
467,777 |
|
|
$ |
14,524 |
|
|
$ |
— |
|
|
$ |
4,569,837 |
|
Individually evaluated for impairment |
$ |
47,972 |
|
|
$ |
13,692 |
|
|
$ |
4,303 |
|
|
$ |
1,325 |
|
|
$ |
— |
|
|
$ |
67,292 |
|
Collectively evaluated for impairment |
$ |
3,598,355 |
|
|
$ |
427,517 |
|
|
$ |
463,474 |
|
|
$ |
13,199 |
|
|
$ |
— |
|
|
$ |
4,502,545 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate |
|
Commercial
and Industrial
|
|
Leases
Receivable
|
|
Consumer |
|
Unallocated |
|
Total |
|
(in thousands) |
As of and for the Three Months Ended September 30, 2018 |
|
|
|
|
|
|
|
|
|
|
|
Allowance for loan and lease losses on loans and leases: |
|
|
|
|
|
|
|
|
|
|
|
Beginning balance |
$ |
17,916 |
|
|
$ |
7,120 |
|
|
6,649 |
|
|
$ |
109 |
|
|
$ |
24 |
|
|
$ |
31,818 |
|
Less loans and leases charged off |
(220 |
) |
|
(232 |
) |
|
(794 |
) |
|
— |
|
|
— |
|
|
(1,246 |
) |
Recoveries on loans and leases previously charged off |
577 |
|
|
237 |
|
|
90 |
|
|
— |
|
|
— |
|
|
904 |
|
Loan and lease loss provision |
(184 |
) |
|
(38 |
) |
|
446 |
|
|
— |
|
|
(24 |
) |
|
200 |
|
Ending balance |
$ |
18,089 |
|
|
$ |
7,087 |
|
|
$ |
6,391 |
|
|
$ |
109 |
|
|
$ |
— |
|
|
$ |
31,676 |
|
Individually evaluated for impairment |
$ |
2,428 |
|
|
$ |
631 |
|
|
$ |
1,763 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
4,822 |
|
Collectively evaluated for impairment |
$ |
15,661 |
|
|
$ |
6,456 |
|
|
$ |
4,628 |
|
|
$ |
109 |
|
|
$ |
— |
|
|
$ |
26,854 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans and leases receivable: |
$ |
3,792,350 |
|
|
$ |
396,383 |
|
|
$ |
379,455 |
|
|
$ |
14,695 |
|
|
$ |
— |
|
|
$ |
4,582,883 |
|
Individually evaluated for impairment |
$ |
20,596 |
|
|
$ |
3,767 |
|
|
$ |
5,093 |
|
|
$ |
881 |
|
|
$ |
— |
|
|
$ |
30,337 |
|
Collectively evaluated for impairment |
$ |
3,771,754 |
|
|
$ |
392,616 |
|
|
$ |
374,362 |
|
|
$ |
13,814 |
|
|
$ |
— |
|
|
$ |
4,552,546 |
|
The following table details the information on the allowance for loan and lease losses by portfolio segment as of and for the nine months ended September 30, 2019 and 2018:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate |
|
Commercial
and Industrial
|
|
Leases
Receivable
|
|
Consumer |
|
Unallocated |
|
Total |
|
(in thousands) |
As of and for the Nine Months Ended September 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 |
(131 |
) |
|
(939 |
) |
|
(2,479 |
) |
|
(1 |
) |
|
1 |
|
|
(3,549 |
) |
Recoveries on loans and leases previously charged off |
1,704 |
|
|
853 |
|
|
312 |
|
|
— |
|
|
— |
|
|
2,869 |
|
Loan and lease loss provision |
16,444 |
|
|
745 |
|
|
2,282 |
|
|
(25 |
) |
|
(28 |
) |
|
19,418 |
|
Ending balance |
$ |
36,401 |
|
|
$ |
7,821 |
|
|
$ |
6,418 |
|
|
$ |
72 |
|
|
$ |
— |
|
|
$ |
50,712 |
|
Individually evaluated for impairment |
$ |
14,781 |
|
|
$ |
1,270 |
|
|
$ |
1,049 |
|
|
$ |
1 |
|
|
$ |
— |
|
|
$ |
17,101 |
|
Collectively evaluated for impairment |
$ |
21,620 |
|
|
$ |
6,551 |
|
|
$ |
5,369 |
|
|
$ |
71 |
|
|
$ |
— |
|
|
$ |
33,611 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans and leases receivable: |
$ |
3,646,327 |
|
|
$ |
441,209 |
|
|
$ |
467,777 |
|
|
$ |
14,524 |
|
|
$ |
— |
|
|
$ |
4,569,837 |
|
Individually evaluated for impairment |
$ |
47,972 |
|
|
$ |
13,692 |
|
|
$ |
4,303 |
|
|
$ |
1,325 |
|
|
$ |
— |
|
|
$ |
67,292 |
|
Collectively evaluated for impairment |
$ |
3,598,355 |
|
|
$ |
427,517 |
|
|
$ |
463,474 |
|
|
$ |
13,199 |
|
|
$ |
— |
|
|
$ |
4,502,545 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real Estate |
|
Commercial
and Industrial
|
|
Leases
Receivable
|
|
Consumer |
|
Unallocated |
|
Total |
|
(in thousands) |
As of and for the Nine Months Ended
September 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 |
(1,249 |
) |
|
(597 |
) |
|
(1,689 |
) |
|
— |
|
|
— |
|
|
(3,535 |
) |
Recoveries on loans and leases previously charged off |
1,833 |
|
|
1,170 |
|
|
214 |
|
|
2 |
|
|
— |
|
|
3,219 |
|
Loan and lease loss provision |
493 |
|
|
(886 |
) |
|
1,587 |
|
|
(15 |
) |
|
(230 |
) |
|
949 |
|
Ending balance |
$ |
18,089 |
|
|
$ |
7,087 |
|
|
$ |
6,391 |
|
|
$ |
109 |
|
|
$ |
— |
|
|
$ |
31,676 |
|
Individually evaluated for impairment |
$ |
2,428 |
|
|
$ |
631 |
|
|
$ |
1,763 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
4,822 |
|
Collectively evaluated for impairment |
$ |
15,661 |
|
|
$ |
6,456 |
|
|
$ |
4,628 |
|
|
$ |
109 |
|
|
$ |
— |
|
|
$ |
26,854 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans and leases receivable: |
$ |
3,792,350 |
|
|
$ |
396,383 |
|
|
$ |
379,455 |
|
|
$ |
14,695 |
|
|
$ |
— |
|
|
$ |
4,582,883 |
|
Individually evaluated for impairment |
$ |
20,596 |
|
|
$ |
3,767 |
|
|
$ |
5,093 |
|
|
$ |
881 |
|
|
$ |
— |
|
|
$ |
30,337 |
|
Collectively evaluated for impairment |
$ |
3,771,754 |
|
|
$ |
392,616 |
|
|
$ |
374,362 |
|
|
$ |
13,814 |
|
|
$ |
— |
|
|
$ |
4,552,546 |
|
|
| Credit Quality of Loan Portfolio |
As of September 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) |
September 30, 2019 |
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
Retail |
$ |
853,986 |
|
|
$ |
3,509 |
|
|
$ |
7,555 |
|
|
$ |
865,050 |
|
Hospitality |
844,085 |
|
|
2,908 |
|
|
3,876 |
|
|
850,869 |
|
Other |
1,391,226 |
|
|
5,015 |
|
|
20,821 |
|
|
1,417,062 |
|
Total commercial property loans |
3,089,297 |
|
|
11,432 |
|
|
32,252 |
|
|
3,132,981 |
|
Construction |
40,407 |
|
|
8,917 |
|
|
27,446 |
|
|
76,770 |
|
Residential property |
434,980 |
|
|
796 |
|
|
800 |
|
|
436,576 |
|
Total real estate loans |
3,564,684 |
|
|
21,145 |
|
|
60,498 |
|
|
3,646,327 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
Commercial term |
173,947 |
|
|
293 |
|
|
13,850 |
|
|
188,090 |
|
Commercial lines of credit |
213,958 |
|
|
5,242 |
|
|
200 |
|
|
219,400 |
|
International loans |
32,569 |
|
|
— |
|
|
1,150 |
|
|
33,719 |
|
Total commercial and industrial loans |
420,474 |
|
|
5,535 |
|
|
15,200 |
|
|
441,209 |
|
Leases receivable |
463,474 |
|
|
— |
|
|
4,303 |
|
|
467,777 |
|
Consumer loans |
13,071 |
|
|
720 |
|
|
733 |
|
|
14,524 |
|
Total loans and leases receivable |
$ |
4,461,703 |
|
|
$ |
27,400 |
|
|
$ |
80,734 |
|
|
$ |
4,569,837 |
|
|
|
|
|
|
|
|
|
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) |
September 30, 2019 |
|
|
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
|
|
|
|
Retail |
$ |
117 |
|
|
$ |
142 |
|
|
$ |
— |
|
|
$ |
259 |
|
|
$ |
864,791 |
|
|
$ |
865,050 |
|
Hospitality |
— |
|
|
— |
|
|
138 |
|
|
138 |
|
|
850,731 |
|
|
850,869 |
|
Other |
39 |
|
|
(4 |
) |
|
— |
|
|
35 |
|
|
1,417,027 |
|
|
1,417,062 |
|
Total commercial property loans |
156 |
|
|
138 |
|
|
138 |
|
|
432 |
|
|
3,132,549 |
|
|
3,132,981 |
|
Construction |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
76,770 |
|
|
76,770 |
|
Residential property |
2,097 |
|
|
1,290 |
|
|
545 |
|
|
3,932 |
|
|
432,644 |
|
|
436,576 |
|
Total real estate loans |
2,253 |
|
|
1,428 |
|
|
683 |
|
|
4,364 |
|
|
3,641,963 |
|
|
3,646,327 |
|
Commercial and industrial loans: |
|
|
|
|
|
|
|
|
|
|
|
Commercial term |
368 |
|
|
124 |
|
|
121 |
|
|
613 |
|
|
187,477 |
|
|
188,090 |
|
Commercial lines of credit |
— |
|
|
95 |
|
|
— |
|
|
95 |
|
|
219,305 |
|
|
219,400 |
|
International loans |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
33,719 |
|
|
33,719 |
|
Total commercial and industrial loans |
368 |
|
|
219 |
|
|
121 |
|
|
708 |
|
|
440,501 |
|
|
441,209 |
|
Leases receivable |
4,725 |
|
|
1,279 |
|
|
1,881 |
|
|
7,885 |
|
|
459,892 |
|
|
467,777 |
|
Consumer loans |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
14,524 |
|
|
14,524 |
|
Total loans and leases receivable |
$ |
7,346 |
|
|
$ |
2,926 |
|
|
$ |
2,685 |
|
|
$ |
12,957 |
|
|
$ |
4,556,880 |
|
|
$ |
4,569,837 |
|
|
|
|
|
|
|
|
|
|
|
|
|
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) |
September 30, 2019 |
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
|
|
Retail |
$ |
1,136 |
|
|
$ |
1,217 |
|
|
$ |
705 |
|
|
$ |
431 |
|
|
$ |
32 |
|
Hospitality |
1,404 |
|
|
1,833 |
|
|
1,167 |
|
|
237 |
|
|
27 |
|
Other |
16,536 |
|
|
16,931 |
|
|
16,358 |
|
|
178 |
|
|
13 |
|
Total commercial property loans |
19,076 |
|
|
19,981 |
|
|
18,230 |
|
|
846 |
|
|
72 |
|
Construction |
27,446 |
|
|
28,000 |
|
|
— |
|
|
27,446 |
|
|
14,709 |
|
Residential property |
1,449 |
|
|
1,584 |
|
|
1,412 |
|
|
38 |
|
|
— |
|
Total real estate loans |
47,971 |
|
|
49,565 |
|
|
19,642 |
|
|
28,330 |
|
|
14,781 |
|
Commercial and industrial loans |
13,692 |
|
|
14,071 |
|
|
— |
|
|
13,692 |
|
|
1,270 |
|
Leases receivable |
4,303 |
|
|
4,340 |
|
|
474 |
|
|
3,828 |
|
|
1,049 |
|
Consumer loans |
1,325 |
|
|
1,601 |
|
|
1,245 |
|
|
79 |
|
|
1 |
|
Total |
$ |
67,291 |
|
|
$ |
69,577 |
|
|
$ |
21,361 |
|
|
$ |
45,929 |
|
|
$ |
17,101 |
|
|
|
|
|
|
|
|
|
|
|
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 |
|
Nine Months Ended |
|
Average Recorded Investment |
|
Interest
Income
Recognized
|
|
Average Recorded Investment |
|
Interest
Income
Recognized
|
|
(in thousands) |
September 30, 2019 |
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
Retail |
$ |
1,168 |
|
|
$ |
6 |
|
|
$ |
1,041 |
|
|
$ |
11 |
|
Hospitality |
1,499 |
|
|
— |
|
|
2,145 |
|
|
— |
|
Other |
10,208 |
|
|
26 |
|
|
9,194 |
|
|
167 |
|
Total commercial property loans |
12,875 |
|
|
32 |
|
|
12,380 |
|
|
178 |
|
Construction |
27,674 |
|
|
— |
|
|
15,447 |
|
|
249 |
|
Residential property |
1,552 |
|
|
10 |
|
|
1,436 |
|
|
29 |
|
Total real estate loans |
42,101 |
|
|
42 |
|
|
29,263 |
|
|
456 |
|
Commercial and industrial loans |
13,892 |
|
|
15 |
|
|
21,220 |
|
|
506 |
|
Leases receivable |
4,543 |
|
|
14 |
|
|
4,431 |
|
|
27 |
|
Consumer loans |
1,482 |
|
|
9 |
|
|
1,502 |
|
|
29 |
|
Total |
$ |
62,018 |
|
|
$ |
80 |
|
|
$ |
56,416 |
|
|
$ |
1,018 |
|
|
|
|
|
|
|
|
|
September 30, 2018 |
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
Commercial property |
|
|
|
|
|
|
|
Retail |
$ |
2,671 |
|
|
$ |
93 |
|
|
$ |
1,936 |
|
|
$ |
141 |
|
Hospitality |
7,146 |
|
|
104 |
|
|
7,639 |
|
|
376 |
|
Other |
8,659 |
|
|
187 |
|
|
8,021 |
|
|
430 |
|
Total commercial property loans |
18,476 |
|
|
384 |
|
|
17,596 |
|
|
947 |
|
Residential property |
1,966 |
|
|
23 |
|
|
2,269 |
|
|
80 |
|
Total real estate loans |
20,442 |
|
|
407 |
|
|
19,865 |
|
|
1,027 |
|
Commercial and industrial loans |
3,819 |
|
|
40 |
|
|
3,266 |
|
|
119 |
|
Leases receivable |
5,424 |
|
|
11 |
|
|
5,072 |
|
|
33 |
|
Consumer loans |
1,018 |
|
|
17 |
|
|
1,031 |
|
|
45 |
|
Total |
$ |
30,703 |
|
|
$ |
475 |
|
|
$ |
29,234 |
|
|
$ |
1,224 |
|
|
| 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 September 30, |
|
Nine Months Ended September 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 |
$ |
916 |
|
|
$ |
819 |
|
|
$ |
2,407 |
|
|
$ |
2,150 |
|
Less: Interest income recognized on impaired loans and leases |
(80 |
) |
|
(475 |
) |
|
(1,018 |
) |
|
(1,224 |
) |
Interest foregone on impaired loans and leases |
$ |
836 |
|
|
$ |
344 |
|
|
$ |
1,389 |
|
|
$ |
926 |
|
|
| Non-Accrual Loans, Disaggregated by Loan Class |
The following table details nonaccrual loans and leases, disaggregated by loan class, as of the dates indicated:
|
|
|
|
|
|
|
|
|
|
September 30, 2019 |
|
December 31, 2018 |
|
(in thousands) |
Real estate loans: |
|
|
|
Commercial property |
|
|
|
Retail |
$ |
986 |
|
|
$ |
865 |
|
Hospitality |
1,404 |
|
|
3,625 |
|
Other |
15,067 |
|
|
1,641 |
|
Total commercial property loans |
17,457 |
|
|
6,131 |
|
Construction |
27,446 |
|
|
— |
|
Residential property |
838 |
|
|
182 |
|
Total real estate loans |
45,741 |
|
|
6,313 |
|
Commercial and industrial loans |
13,447 |
|
|
3,337 |
|
Leases receivable |
4,303 |
|
|
5,129 |
|
Consumer loans |
703 |
|
|
746 |
|
Total nonaccrual loans and leases |
$ |
64,194 |
|
|
$ |
15,525 |
|
|
| Non-Performing Assets |
The following table details nonperforming assets as of the dates indicated:
|
|
|
|
|
|
|
|
|
|
September 30, 2019 |
|
December 31, 2018 |
|
(in thousands) |
Nonaccrual loans and leases |
$ |
64,194 |
|
|
$ |
15,525 |
|
Loans and leases 90 days or more past due and still accruing |
544 |
|
|
4 |
|
Total nonperforming loans and leases |
64,738 |
|
|
15,529 |
|
Other real estate owned (“OREO”) |
330 |
|
|
663 |
|
Total nonperforming assets |
$ |
65,068 |
|
|
$ |
16,192 |
|
|
| Troubled Debt Restructurings, Disaggregated by Type of Concession and by Loan Type |
The following table details TDRs loans as of September 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) |
September 30, 2019 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans |
$ |
1,927 |
|
|
$ |
142 |
|
|
$ |
28,141 |
|
|
$ |
13,926 |
|
|
$ |
44,136 |
|
|
$ |
2,081 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
2,081 |
|
Commercial and industrial loans |
— |
|
|
156 |
|
|
12,527 |
|
|
323 |
|
|
13,006 |
|
|
— |
|
|
36 |
|
|
83 |
|
|
127 |
|
|
246 |
|
Consumer loans |
703 |
|
|
— |
|
|
— |
|
|
— |
|
|
703 |
|
|
542 |
|
|
— |
|
|
79 |
|
|
— |
|
|
621 |
|
Total |
$ |
2,630 |
|
|
$ |
298 |
|
|
$ |
40,668 |
|
|
$ |
14,249 |
|
|
$ |
57,845 |
|
|
$ |
2,623 |
|
|
$ |
36 |
|
|
$ |
162 |
|
|
$ |
127 |
|
|
$ |
2,948 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
|