Hanmi Financial Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Loans (Tables)

Loans (Tables)

9 Months Ended

Sep. 30, 2020

Loans consisted of the following as of the dates indicated:

	September 30, 2020			December 31, 2019
	(in thousands)
Real estate loans:
Commercial property
Retail	$	805,055		$	869,302
Hospitality		877,354			922,288
Other ⁽¹⁾		1,526,411			1,358,432
Total commercial property loans		3,208,820			3,150,022
Construction		55,627			76,455
Residential property		359,188			402,028
Total real estate loans		3,623,635			3,628,505
Commercial and industrial loans		765,484			484,093
Leases receivable		433,323			483,879
Consumer loans ⁽²⁾		11,695			13,670
Loans receivable		4,834,137			4,610,147
Allowance for credit losses		(86,620	)		(61,408	)
Loans receivable, net	$	4,747,517		$	4,548,739

⁽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 receivable.

⁽²⁾	Consumer loans include home equity lines of credit of $7.0 million and $8.2 million as of September 30, 2020 and December 31, 2019, respectively.

Activity for SBA Loans Held for Sale

The following is the activity for SBA loans held for sale for the three months ended September 30, 2020 and 2019:

	Real Estate			Commercial and Industrial			Total
	(in thousands)
September 30, 2020
Balance at beginning of period	$	12,661		$	5,281		$	17,942
Originations and transfers		12,049			12,107			24,156
Sales		(20,621	)		(8,639	)		(29,260	)
Principal paydowns and amortization		—			(5	)		(5	)
Balance at end of period	$	4,089		$	8,745		$	12,834

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

The following is the activity for SBA loans held for sale for the nine months ended September 30, 2020 and 2019:

	Real Estate			Commercial and Industrial			Total
	(in thousands)
September 30, 2020
Balance at beginning of period	$	2,943		$	3,077		$	6,020
Originations and transfers		31,204			23,091			54,295
Sales		(30,053	)		(17,419	)		(47,472	)
Principal payoffs and amortization		(5	)		(5	)		(10	)
Balance at end of period	$	4,089		$	8,745		$	12,834

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 payoffs and amortization		(1	)		(14	)		(15	)
Balance at end of period	$	2,622		$	3,976		$	6,598

Allowance for Credit Losses by Portfolio Segment

The following table details the information on the allowance for credit losses by portfolio segment as of and for the three months ended September 30, 2020 and 2019:

	Real Estate			Commercial and Industrial			Leases Receivable			Consumer			Unallocated		Total
	(in thousands)
September 30, 2020
Balance at beginning of period		56,216		$	13,388		$	16,524		$	202		$	—		86,330
Less loans charged off		687			383			1,081			—			—		2,151
Recoveries on loans receivable previously charged off		(1,497	)		(35	)		(213	)		—			—		(1,745	)
Provision for credit losses		(6,752	)		7,809			(368	)		8			—		697
Ending balance	$	50,274		$	20,849		$	15,287		$	210		$	—	$	86,620
Individually evaluated for impairment	$	33		$	1,623		$	2,087		$	2		$	—	$	3,745
Collectively evaluated for impairment	$	50,241		$	19,226		$	13,200		$	208		$	—	$	82,875

Loans receivable	$	3,623,635		$	765,484		$	433,323		$	11,695		$	—	$	4,834,137
Individually evaluated for impairment	$	46,958		$	13,293		$	7,338		$	1,262				$	68,851
Collectively evaluated for impairment	$	3,576,677		$	752,191		$	425,985		$	10,433		$	—	$	4,765,286

September 30, 2019
Balance at beginning of period	$	34,004		$	9,235		$	6,068		$	79		$	—	$	49,386
Less loans charged off		17			244			653			2			—		916
Recoveries on loans receivable previously charged off		(142	)		(381	)		(117	)		—			—		(640	)
Provision for credit losses		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 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

The following table details the information on the allowance for credit losses by portfolio segment as of and for the nine months ended September 30, 2020 and 2019:

	Real Estate			Commercial and Industrial			Leases Receivable			Consumer			Unallocated			Total
	(in thousands)
September 30, 2020
Balance at beginning of period	$	36,355		$	16,206		$	8,767		$	80		$	—		$	61,408
Adjustment related to adoption of ASU 2016-13		13,972			(2,497	)		5,902			55			—			17,433
Adjusted balance		50,327			13,709			14,669			135			—			78,841
Less loans charged off		14,920			12,972			3,306			—			—			31,197
Recoveries on loans receivable previously charged off		(1,653	)		(179	)		(401	)		—			—			(2,233	)
Provision for credit losses		13,214			19,932			3,523			75			—			36,744
Ending balance	$	50,274		$	20,849		$	15,287		$	210		$	—		$	86,620
Individually evaluated for impairment	$	33		$	1,623		$	2,087		$	2					$	3,745
Collectively evaluated for impairment	$	50,241		$	19,226		$	13,200		$	208		$	—		$	82,875

Loans receivable	$	3,623,635		$	765,484		$	433,323		$	11,695		$	—		$	4,834,137
Individually evaluated for impairment	$	46,958		$	13,293		$	7,338		$	1,262					$	68,851
Collectively evaluated for impairment	$	3,576,677		$	752,191		$	425,985		$	10,433		$	—		$	4,765,286

September 30, 2019
Balance at beginning of period	$	18,384		$	7,162		$	6,303		$	98		$	27		$	31,974
Less loans charged off		131			939			2,479			1			(1	)		3,549
Recoveries on loans receivable previously charged off		(1,704	)		(853	)		(312	)		—			—			(2,869	)
Provision for credit losses		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 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

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.

	September 30, 2020										December 31, 2019
	Allowance Amount		Percentage of Allowance			Total Loans		Percentage of Total Loans			Allowance Amount		Percentage of Allowance			Total Loans		Percentage of Total Loans
	(in thousands)
Real estate loans:
Commercial property
Retail	$	5,838		6.8	%	$	805,055		16.7	%	$	4,911		8.0	%	$	869,302		18.9	%
Hospitality		20,258		23.4	%		877,354		18.1	%		6,686		10.9	%		922,288		20.0	%
Other		16,876		19.5	%		1,526,411		31.6	%		8,060		13.1	%		1,358,432		29.4	%
Total commercial property loans		42,972		49.7	%		3,208,820		66.4	%		19,657		32.0	%		3,150,022		68.3	%
Construction		4,859		5.6	%		55,627		1.2	%		15,003		24.4	%		76,455		1.7	%
Residential property		2,443		2.8	%		359,188		7.4	%		1,695		2.8	%		402,028		8.7	%
Total real estate loans		50,274		58.1	%		3,623,635		75.0	%		36,355		59.2	%		3,628,505		78.7	%
Commercial and industrial loans		20,849		24.1	%		765,484		15.8	%		16,206		26.4	%		484,093		10.5	%
Leases receivable		15,287		17.6	%		433,323		9.0	%		8,767		14.3	%		483,879		10.5	%
Consumer loans		210		0.2	%		11,695		0.2	%		80		0.1	%		13,670		0.3	%
Total	$	86,620		100.0	%	$	4,834,137		100.0	%	$	61,408		100.0	%	$	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 September 30, 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 impaired.

	Amortized Cost
September 30, 2020	(in thousands)
Real estate loans:
Commercial property	$	13,419
Construction		29,444
Residential property		1,763
Total real estate loans		44,626
Commercial and industrial loans		288
Consumer Loans		1,193
Total ⁽¹⁾	$	46,106

⁽¹⁾	All loans are secured by real estate, except for one commercial term loan secured by $264,000 in cash.

Credit Quality of Loan Portfolio

The tables below provide a comparison as of September 30, 2020 and December 31, 2019 of the pass/pass-watch, special mention and classified loans, disaggregated by loan segment:

	Pass/Pass- Watch		Special Mention		Classified		Total
	(in thousands)
September 30, 2020
Real estate loans:
Commercial property
Retail	$	792,922	$	3,381	$	8,752	$	805,055
Hospitality		831,705		24,979		20,670		877,354
Other		1,493,750		17,772		14,889		1,526,411
Total commercial property		3,118,377		46,132		44,311		3,208,820
Construction		26,183		—		29,444		55,627
Residential property		355,813		784		2,591		359,188
Total real estate loans		3,500,373		46,916		76,346		3,623,635
Commercial and industrial loans		737,561		9,508		18,415		765,484
Leases receivable		422,545		—		10,778		433,323
Consumer loans		10,342		681		672		11,695
Total loans receivable	$	4,670,821	$	57,105	$	106,211	$	4,834,137

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		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		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 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
	(in thousands)
September 30, 2020
Commercial property
Risk Rating
Pass / Pass Watch	$	570,682	$	533,660	$	549,071	$	403,452	$	444,628	$	581,498	$	35,386	$	3,118,377
Special Mention		13,680		5,892		445		1,682		19,185		5,248		—		46,132
Classified		1,419		749		5,488		3,745		16,155		16,755		—		44,311
Total commercial property		585,781		540,301		555,004		408,879		479,968		603,501		35,386		3,208,820

Construction
Risk Rating
Pass / Pass Watch		25,990		193		—		—		—		—		—		26,183
Special Mention		—		—		—		—		—		—		—		—
Classified		12,808		3,590		13,046		—		—		—		—		29,444
Total construction		38,798		3,783		13,046		—		—		—		—		55,627

Residential property
Risk Rating
Pass / Pass Watch		26,328		954		38,870		141,045		92,614		56,002		—		355,813
Special Mention		—		—		—		—		—		784		—		784
Classified		—		—		—		1,836		755		—		—		2,591
Total residential property		26,328		954		38,870		142,881		93,369		56,786		—		359,188

Total real estate loans
Risk Rating
Pass / Pass Watch		623,000		534,807		587,941		544,497		537,242		637,500		35,386		3,500,373
Special Mention		13,680		5,892		445		1,682		19,185		6,032		—		46,916
Classified		14,227		4,339		18,534		5,581		16,910		16,755		—		76,346
Total real estate loans		650,907		545,038		606,920		551,760		573,337		660,287		35,386		3,623,635

Commercial and industrial loans:
Risk Rating
Pass / Pass Watch		422,525		82,679		60,131		21,854		4,912		12,776		132,684		737,561
Special Mention		3,044		—		—		471		1,732		2,562		1,699		9,508
Classified		9,378		3,894		696		54		134		308		3,951		18,415
Total commercial and industrial loans		434,947		86,573		60,827		22,379		6,778		15,646		138,334		765,484

Leases receivable:
Risk Rating
Pass / Pass Watch		81,035		184,006		104,876		36,545		13,998		2,085		—		422,545
Special Mention		—		—		—		—		—		—		—		—
Classified		148		5,349		2,591		1,071		1,264		355		—		10,778
Total leases receivable		81,183		189,355		107,467		37,616		15,262		2,440		—		433,323

Consumer loans:
Risk Rating
Pass / Pass Watch		119		12		10		77		6		2,464		7,654		10,342
Special Mention		—		—		—		—		—		681		—		681
Classified		—		—		647		25		—		—		—		672
Total commercial term loans		119		12		657		102		6		3,145		7,654		11,695

Total loans receivable:
Risk Rating
Pass / Pass Watch		1,126,679		801,504		752,958		602,973		556,158		654,825		175,724		4,670,821
Special Mention		16,724		5,892		445		2,153		20,917		9,275		1,699		57,105
Classified		23,753		13,582		22,468		6,731		18,308		17,418		3,951		106,211
Total loans receivable	$	1,167,156	$	820,978	$	775,871	$	611,857	$	595,383	$	681,518	$	181,374	$	4,834,137

⁽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
	(in thousands)
September 30, 2020
Real estate loans:
Commercial property
Payment performance
Performing	$	585,781	$	540,301	$	554,849	$	407,353	$	477,221	$	599,468	$	35,386	$	3,200,359
Nonperforming		—		—		155		1,526		2,747		4,033		—		8,461
Total commercial property		585,781		540,301		555,004		408,879		479,968		603,501		35,386		3,208,820

Construction
Payment performance
Performing		25,990		193		—		—		—		—		—	$	26,183
Nonperforming		12,808		3,590		13,046		—		—		—		—		29,444
Total construction		38,798		3,783		13,046		—		—		—		—		55,627

Residential property
Payment performance
Performing		26,328		954		38,870		141,873		92,614		56,786		—		357,425
Nonperforming		—		—		—		1,008		755		—		—		1,763
Total residential property		26,328		954		38,870		142,881		93,369		56,786		—		359,188

Total real estate loans
Payment performance
Performing		638,099		541,448		593,719		549,226		569,835		656,254		35,386		3,583,967
Nonperforming		12,808		3,590		13,201		2,534		3,502		4,033		—		39,668
Total real estate loans		650,907		545,038		606,920		551,760		573,337		660,287		35,386		3,623,635

Commercial and industrial loans:
Payment performance
Performing		426,275		82,679		60,378		22,325		6,778		15,500		138,334		752,269
Nonperforming		8,672		3,894		449		54		—		146		—		13,215
Total commercial and industrial loans		434,947		86,573		60,827		22,379		6,778		15,646		138,334		765,484

Leases receivable:
Payment performance
Performing		81,035		184,006		104,876		36,545		13,998		2,085		—		422,545
Nonperforming		148		5,349		2,591		1,071		1,264		355		—		10,778
Total leases receivable		81,183		189,355		107,467		37,616		15,262		2,440		—		433,323

Consumer loans:
Payment performance
Performing		119		12		10		77		6		3,145		7,654		11,023
Nonperforming		—		—		647		25		—		—		—		672
Total commercial term loans		119		12		657		102		6		3,145		7,654		11,695

Total loans receivable:
Payment performance
Performing		1,145,528		808,145		758,983		608,173		590,617		676,984		181,374		4,769,804
Nonperforming		21,628		12,833		16,888		3,684		4,766		4,534		—		64,333
Total loans receivable	$	1,167,156	$	820,978	$	775,871	$	611,857	$	595,383	$	681,518	$	181,374	$	4,834,137

⁽¹⁾	Includes extensions, renewals, or modifications of credit contracts, which consist of a new credit decision.

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		Accruing 90 Days or More Past Due
	(in thousands)
September 30, 2020
Real estate loans:
Commercial property
Retail	$	1,282	$	50	$	—	$	1,332	$	803,723	$	805,055	$	—
Hospitality		1,040		—		—		1,040		876,314		877,354		—
Other		404		—		227		631		1,525,780		1,526,411		—
Total commercial property loans		2,725		50		227		3,002		3,205,818		3,208,820		—
Construction		—		—		16,636		16,636		38,991		55,627		—
Residential property		322		469		1,294		2,085		357,103		359,188		—
Total real estate loans		3,047		519		18,158		21,724		3,601,912		3,623,635		—
Commercial and industrial loans		170		110		12,854		13,134		752,350		765,484		—
Leases receivable		5,053		2,804		5,188		13,045		420,278		433,323		—
Consumer loans		—		—		25		25		11,670		11,695		—
Total loans receivable	$	8,270	$	3,432	$	36,225	$	47,927	$	4,786,210	$	4,834,137	$	—

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		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 receivable	$	7,497	$	4,060	$	4,094	$	15,652	$	4,594,496	$	4,610,147	$	—

Information on Individually Evaluated and Impaired Loans Receivable, Disaggregated by Loan Class

The following tables provide information on individually evaluated loans receivable as of September 30, 2020 and impaired loans receivable as of 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
	(in thousands)
September 30, 2020
Real estate loans:
Commercial property
Retail	$	5,504	$	5,549	$	5,504	$	—	$	—
Other		10,248		11,449		9,474		774		33
Total commercial property loans		15,751		16,998		14,977		774		33
Construction		29,444		31,083		29,444		—		—
Residential property		1,763		1,737		1,763		—		—
Total real estate loans		46,958		49,818		46,184		774		33
Commercial and industrial loans		13,293		14,056		308		12,985		1,623
Leases receivable		7,338		7,383		1,035		6,303		2,087
Consumer loans		1,262		1,590		1,193		69		2
Total	$	68,851	$	72,847	$	48,720	$	20,131	$	3,746

December 31, 2019
Real estate loans:
Commercial property
Retail	$	434	$	459	$	111	$	323	$	19
Hospitality		244		400		22		223		24
Other		14,864		15,151		14,696		167		12
Total commercial property loans		15,542		16,010		14,829		713		55
Construction		27,201		28,000		—		27,201		13,973
Residential property		1,124		1,163		1,089		35		—
Total real estate loans		43,867		45,173		15,918		27,949		14,028
Commercial and industrial loans		13,700		14,090		143		13,557		8,885
Leases receivable		5,902		5,909		1,112		4,790		2,863
Consumer loans		1,297		1,588		1,220		77		1
Total	$	64,766	$	66,760	$	18,393	$	46,373	$	25,778

Schedule of Amortized Cost Basis of Loans on Nonaccrual Status and Loans Past Due 90 Days and Still Accruing

The following table represents the amortized cost basis of loans on nonaccrual status and loans past due 90 days and still accruing as of September 30, 2020.

	September 30, 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	$	5,504	$	—	$	—	$	5,504
Other		2,184		774		—		2,958
Commercial property loans		7,687		774		—		8,461
Construction loans		29,444		—		—		29,444
Residential property loans		1,763		—		—		1,763
Total real estate loans		38,894		774		—		39,668
Commercial and industrial loans		308		12,908		—		13,215
Leases receivable		1,035		9,743		—		10,778
Consumer loans		672		—		—		672
Total	$	40,909	$	23,424	$	—	$	64,333

Summary of Interest Foregone on Non-accrual Loans

The following is a summary of interest foregone on nonaccrual loans for the periods indicated:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2020			2019			2020			2019
	(in thousands)
Interest income that would have been recognized had impaired loans performed in accordance with their original terms	$	1,482		$	916		$	4,092		$	2,407
Less: Interest income recognized on impaired loans		(204	)		(80	)		(1,319	)		(1,018	)
Interest foregone on impaired loans	$	1,278		$	836		$	2,773		$	1,389

Non-Accrual Loans, Disaggregated by Loan Class

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

	September 30, 2020		December 31, 2019
	(in thousands)
Real estate loans:
Commercial property
Retail	$	5,504	$	277
Hospitality		—		225
Other		2,958		14,864
Total Commercial property loans		8,461		15,366
Construction		29,444		27,201
Residential property		1,763		1,124
Total real estate loans		39,668		43,691
Commercial and industrial loans		13,215		13,479
Leases receivable		10,778		5,902
Consumer loans		672		689
Total nonaccrual loans	$	64,333	$	63,761

Non-Performing Assets

The following table details nonperforming assets as of the dates indicated:

	September 30, 2020		December 31, 2019
	(in thousands)
Nonaccrual loans	$	64,333	$	63,761
Loans receivable 90 days or more past due and still accruing		—		—
Total nonperforming loans receivable		64,333		63,761
Other real estate owned ("OREO")		1,052		63
Total nonperforming assets	$	65,385	$	63,824

Troubled Debt Restructurings

The following table details TDRs as of September 30, 2020 and December 31, 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)
September 30, 2020
Real estate loans	$	—	$	3,382	$	13,511	$	—	$	16,893	$	—	$	—	$	—	$	7,290	$	7,290
Commercial and industrial loans		—		176		247		—		423		—		—		7		70		77
Consumer loans		647		—		—		—		647		521		—		69		—		590
Total	$	647	$	3,558	$	13,758	$	—	$	17,963	$	521	$	—	$	76	$	7,360	$	7,957

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	$	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 periods indicated, with their pre- and post-modification recorded amounts.

	Three Months ended						Twelve Months ended
	September 30, 2020						December 31, 2019
	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		1	$	2,004	$	1,526		5	$	40,743	$	41,798
Commercial and industrial loans		—		—		—		2		12,779		12,562
Consumer loans		—		—		—		1		549		531
Total		1	$	2,004	$	1,526		8	$	54,071	$	54,891

	Nine Months ended						Twelve Months ended
	September 30, 2020						December 31, 2019
	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		3	$	4,005	$	3,253		5	$	40,743	$	41,798
Commercial and industrial loans		—		—		—		2		12,779		12,562
Consumer loans		—		—		—		1		549		531
Total		3	$	4,005	$	3,253		8	$	54,071	$	54,891