Loans and Leases | Loans and Leases Summary of Major Loan and Lease Categories (Dollars in thousands) At June 30, 2020 At December 31, 2019 Commercial, financial and agricultural $ 822,733 $ 947,029 Paycheck Protection Program 498,978 — Real estate-commercial 2,222,490 2,040,441 Real estate-construction 212,534 232,595 Real estate-residential secured for business purpose 376,050 373,973 Real estate-residential secured for personal purpose 462,512 439,059 Real estate-home equity secured for personal purpose 173,041 174,435 Loans to individuals 29,222 29,883 Lease financings 154,249 149,421 Total loans and leases held for investment, net of deferred income $ 4,951,809 $ 4,386,836 Imputed interest on lease financings, included in the above table $ (16,678) $ (16,340) Net deferred (fees) costs, included in the above table (5,550) 5,999 Overdraft deposits included in the above table 401 407 Age Analysis of Past Due Loans and Leases The following presents, by class of loans and leases, an aging of past due loans and leases, loans and leases which are current and nonaccrual loans and leases at June 30, 2020: Accruing Loans and Leases (Dollars in thousands) 30-59 60-89 90 Days Total Current Total Accruing Loans and Leases Nonaccrual Loans and Leases Total Loans At June 30, 2020 Commercial, financial and agricultural $ 9,995 $ 456 $ 309 $ 10,760 $ 807,765 $ 818,525 $ 4,208 $ 822,733 Paycheck Protection Program — — — — 498,978 498,978 — 498,978 Real estate—commercial real estate and construction: Commercial real estate 8,006 6,532 54 14,592 2,190,330 2,204,922 17,568 2,222,490 Construction 9,272 1,203 — 10,475 202,059 212,534 — 212,534 Real estate—residential and home equity: Residential secured for business purpose 1,633 1,291 468 3,392 370,904 374,296 1,754 376,050 Residential secured for personal purpose 3,203 174 — 3,377 457,867 461,244 1,268 462,512 Home equity secured for personal purpose 921 393 — 1,314 170,750 172,064 977 173,041 Loans to individuals 92 127 93 312 28,910 29,222 — 29,222 Lease financings 640 370 269 1,279 152,604 153,883 366 154,249 Total $ 33,762 $ 10,546 $ 1,193 $ 45,501 $ 4,880,167 $ 4,925,668 $ 26,141 $ 4,951,809 The following presents, by class of loans and leases, an aging of past due loans and leases, loans and leases which are current, acquired credit impaired loans and nonaccrual loans and leases at December 31, 2019: Accruing Loans and Leases (Dollars in thousands) 30-59 60-89 90 Days Total Current Total Accruing Loans and Leases Acquired Credit Impaired Nonaccrual Loans and Leases Total Loans At December 31, 2019 Commercial, financial and agricultural $ 2,602 $ 150 $ 20 $ 2,772 $ 940,815 $ 943,587 $ — $ 3,442 $ 947,029 Real estate—commercial real estate and construction: Commercial real estate 3,473 266 — 3,739 2,008,568 2,012,307 206 27,928 2,040,441 Construction — — — — 232,338 232,338 — 257 232,595 Real estate—residential and home equity: Residential secured for business purpose 2,078 2,442 — 4,520 366,473 370,993 — 2,980 373,973 Residential secured for personal purpose 2,969 446 — 3,415 433,548 436,963 58 2,038 439,059 Home equity secured for personal purpose 605 297 — 902 172,106 173,008 — 1,427 174,435 Loans to individuals 157 73 74 304 29,579 29,883 — — 29,883 Lease financings 1,409 296 49 1,754 147,161 148,915 — 506 149,421 Total $ 13,293 $ 3,970 $ 143 $ 17,406 $ 4,330,588 $ 4,347,994 $ 264 $ 38,578 $ 4,386,836 Nonperforming Loans and Leases The following presents, by class of loans and leases, nonperforming loans and leases at June 30, 2020 and December 31, 2019. At June 30, 2020 At December 31, 2019 (Dollars in thousands) Nonaccrual Accruing Loans and Total Nonperforming Nonaccrual Accruing Loans and Total Nonperforming Commercial, financial and agricultural $ 4,208 $ — $ 309 $ 4,517 $ 3,442 $ — $ 20 $ 3,462 Real estate—commercial real estate and construction: Commercial real estate 17,568 — 54 17,622 27,928 — — 27,928 Construction — — — — 257 — — 257 Real estate—residential and home equity: Residential secured for business purpose 1,754 — 468 2,222 2,980 — — 2,980 Residential secured for personal purpose 1,268 — — 1,268 2,038 — — 2,038 Home equity secured for personal purpose 977 53 — 1,030 1,427 54 — 1,481 Loans to individuals — — 93 93 — — 74 74 Lease financings 366 — 269 635 506 — 49 555 Total $ 26,141 $ 53 $ 1,193 $ 27,387 $ 38,578 $ 54 $ 143 $ 38,775 * Includes nonaccrual troubled debt restructured loans of $14.1 million and $13.8 million at June 30, 2020 and December 31, 2019, respectively. The following table presents the amortized cost basis of loans and leases on nonaccrual status and loans 90 days or more past due and still accruing as of June 30, 2020. (Dollars in thousands) Nonaccrual With No ACL Nonaccrual With ACL Total Nonaccrual Loans 90 Days or more Past Due and Accruing Interest At June 30, 2020 Commercial, financial and agricultural $ 2,747 $ 1,461 $ 4,208 $ 309 Real estate-commercial 17,342 226 17,568 54 Real estate-residential secured for business purpose 1,723 31 1,754 468 Real estate-residential secured for personal purpose 706 562 1,268 — Real estate-home equity secured for personal purpose 977 — 977 — Loans to individuals — — — 93 Lease financings — 366 366 269 Total $ 23,495 $ 2,646 $ 26,141 $ 1,193 The following table presents the amortized cost basis of collateral-dependent nonaccrual loans by class of loans and type of collateral as of June 30, 2020. (Dollars in thousands) Real Estate Other (1) None (2) Total At June 30, 2020 Commercial, financial and agricultural $ 1,802 $ 1,833 $ 573 $ 4,208 Real estate-commercial 17,568 — — 17,568 Real estate-residential secured for business purpose 1,754 — — 1,754 Real estate-residential secured for personal purpose 1,268 — — 1,268 Real estate-home equity secured for personal purpose 977 — — 977 Total $ 23,369 $ 1,833 $ 573 $ 25,775 (1) Collateral consists of business assets, including accounts receivable and personal property. (2) Loans fully reserved given lack of collateral. Credit Quality Indicators The following tables present by class, the recorded investment in loans and leases held for investment by credit quality indicator at June 30, 2020 and December 31, 2019. The Corporation employs a risk rating system related to the credit quality of commercial loans and real estate loans secured for a business purpose. The following is a description of the internal risk ratings and the likelihood of loss related to each risk rating. Loans with a relationship balance of less than $1 million are reviewed on a performance basis, with the primary monitored metrics being delinquency status. Loans with relationships greater than $1 million are reviewed at least annually. Loan relationships with a higher risk profile or classified as special mention or substandard are reviewed at least quarterly. The Corporation reviews credit quality indicators on at least an annual basis and last completed this review in conjunction with the period ended December 31, 2019. 1. Pass—Loans considered satisfactory with no indications of deterioration 2. Special Mention—Potential weakness that deserves management's close attention 3. Substandard—Well-defined weakness or weaknesses that jeopardize the liquidation of the debt 4. Doubtful—Collection or liquidation in-full, on the basis of current existing facts, conditions and values, highly questionable and improbable Commercial Credit Exposure Credit Risk by Internally Assigned Grades The following tables present by class, the recorded investment in loans and leases held for investment by credit quality indicator at June 30, 2020 under ASC 326. Term Loans Amortized Cost Basis by Origination Year 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Total At June 30, 2020 Commercial, Financial and Agricultural Risk Rating 1. Pass $ 99,875 $ 111,696 $ 83,979 $ 58,363 $ 31,043 $ 72,877 $ 335,029 $ 792,862 2. Special Mention 3,132 889 1,523 2,614 1,425 1,449 4,755 15,787 3. Substandard 175 945 904 61 — 634 11,365 14,084 Total $ 103,182 $ 113,530 $ 86,406 $ 61,038 $ 32,468 $ 74,960 $ 351,149 $ 822,733 Paycheck Protection Plan Risk Rating 1. Pass $ 498,978 $ — $ — $ — $ — $ — $ — $ 498,978 2. Special Mention — — — — — — — — 3. Substandard — — — — — — — — Total $ 498,978 $ — $ — $ — $ — $ — $ — $ 498,978 Real Estate-Commercial Risk Rating 1. Pass $ 514,960 $ 545,207 $ 313,670 $ 318,237 $ 184,112 $ 254,494 $ 45,183 $ 2,175,863 2. Special Mention 1,781 12,502 — 1,127 5,177 2,143 288 23,018 3. Substandard — 938 1,054 11,070 — 9,759 788 23,609 Total $ 516,741 $ 558,647 $ 314,724 $ 330,434 $ 189,289 $ 266,396 $ 46,259 $ 2,222,490 Real Estate-Construction Risk Rating 1. Pass $ 44,289 $ 86,261 $ 52,692 $ 2,276 $ 2,950 $ — $ 3,720 $ 192,188 2. Special Mention 20,346 — — — — — — 20,346 3. Substandard — — — — — — — — Total $ 64,635 $ 86,261 $ 52,692 $ 2,276 $ 2,950 $ — $ 3,720 $ 212,534 Real Estate-Residential Secured for Business Purpose Risk Rating 1. Pass $ 54,425 $ 80,480 $ 63,984 $ 52,922 $ 43,840 $ 47,584 $ 27,599 $ 370,834 2. Special Mention 831 468 — 78 734 800 — 2,911 3. Substandard — 463 — 76 763 935 68 2,305 Total $ 55,256 $ 81,411 $ 63,984 $ 53,076 $ 45,337 $ 49,319 $ 27,667 $ 376,050 The Corporation had no revolving loans which were converted to term loans included within recorded investment in loans and leases held for investment at June 30, 2020. The Corporation had no loans with a risk rating of Doubtful included within recorded investment in loans and leases held for investment at June 30, 2020. The following tables present by class, the recorded investment in loans and leases held for investment by credit quality indicator at December 31, 2019 under ASC 310. (Dollars in thousands) Commercial, Real Estate— Real Estate— Real Estate— Total At December 31, 2019 Grade: 1. Pass $ 911,848 $ 1,974,561 $ 201,424 $ 367,122 $ 3,454,955 2. Special Mention 18,843 24,199 20,987 3,769 67,798 3. Substandard 16,338 41,681 10,184 3,082 71,285 Total $ 947,029 $ 2,040,441 $ 232,595 $ 373,973 $ 3,594,038 Credit Exposure—Real Estate—Residential Secured for Personal Purpose, Real Estate—Home Equity Secured for Personal Purpose, Loans to individuals, Lease Financings Credit Risk Profile by Payment Activity The Corporation monitors the credit risk profile by payment activity for the following classifications of loans and leases: residential real estate loans, home equity loans secured for a personal purpose and loans to individuals and lease financings. Loans and leases past due 90 days or more, loans and leases on nonaccrual status and troubled debt restructured loans and lease modifications are considered nonperforming. Nonperforming loans and leases are reviewed monthly. Performing loans and leases have a nominal to moderate risk of loss. Performing loans and leases are reviewed only if the loan becomes 60 days or more past due. The Corporation reviews credit quality indicators on at least an annual basis and last completed this review in conjunction with the period ended December 31, 2019. The following table presents classification of loans at June 30, 2020. Term Loans Amortized Cost Basis by Origination Year 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Total At June 30, 2020 Real Estate-Residential Secured for Personal Purpose Payment Performance 1. Performing $ 74,240 $ 82,989 $ 77,421 $ 64,408 $ 49,501 $ 111,067 $ 1,618 $ 461,244 2. Nonperforming — — 57 — — 1,211 — 1,268 Total $ 74,240 $ 82,989 $ 77,478 $ 64,408 $ 49,501 $ 112,278 $ 1,618 $ 462,512 Real Estate-Home Equity Secured for Personal Purpose Payment Performance 1. Performing $ 387 $ 994 $ 1,245 $ 1,431 $ 609 $ 2,947 $ 164,398 $ 172,011 2. Nonperforming — — 105 — — 43 882 1,030 Total $ 387 $ 994 $ 1,350 $ 1,431 $ 609 $ 2,990 $ 165,280 $ 173,041 Loans to Individuals Payment Performance 1. Performing $ 1,349 $ 2,022 $ 1,308 $ 658 $ 396 $ 2,560 $ 20,836 $ 29,129 2. Nonperforming — — — — — 78 15 93 Total $ 1,349 $ 2,022 $ 1,308 $ 658 $ 396 $ 2,638 $ 20,851 $ 29,222 Lease Financings Payment Performance 1. Performing $ 32,754 $ 54,928 $ 39,881 $ 16,981 $ 7,441 $ 1,629 $ — $ 153,614 2. Nonperforming — 102 106 339 66 22 — 635 Total $ 32,754 $ 55,030 $ 39,987 $ 17,320 $ 7,507 $ 1,651 $ — $ 154,249 The following table presents classifications of loans at December 31, 2019. (Dollars in thousands) Real Estate— Real Estate— Loans to Lease Total At December 31, 2019 Performing $ 437,021 $ 172,954 $ 29,809 $ 148,866 $ 788,650 Nonperforming 2,038 1,481 74 555 4,148 Total $ 439,059 $ 174,435 $ 29,883 $ 149,421 $ 792,798 Reserve for Credit Losses on Loans and Leases and Recorded Investment in Loans and Leases The following presents, by portfolio segment, a summary of the activity in the reserve for credit losses, loans and leases, for the three and six months ended June 30, 2020 and 2019: (Dollars in thousands) Beginning balance (Recovery of provision) provision for credit losses Charge-offs Recoveries Ending balance Three Months Ended June 30, 2020 Reserve for credit losses, loans and leases: Commercial, Financial and Agricultural $ 19,244 $ (2,034) $ (744) $ 270 $ 16,736 Real Estate-Commercial 34,810 18,663 (2,802) — 50,671 Real Estate-Construction 3,117 1,013 — — 4,130 Real Estate-Residential Secured for Business Purpose 5,906 2,365 (96) 5 8,180 Real Estate-Residential Secured for Personal Purpose 2,121 548 — — 2,669 Real Estate-Home Equity Secured for Personal Purpose 795 273 — 3 1,071 Loans to Individuals 600 239 (93) 25 771 Lease Financings 1,473 510 (212) 68 1,839 Unallocated 150 — N/A N/A 150 Total $ 68,216 $ 21,577 $ (3,947) $ 371 $ 86,217 Three Months Ended June 30, 2019 Reserve for credit losses, loans and leases: Commercial, Financial and Agricultural $ 8,950 $ 1,178 $ (1,018) $ 19 $ 9,129 Real Estate-Commercial and Construction 14,981 530 (33) — 15,478 Real Estate-Residential Secured for Business Purpose 2,302 170 — 6 2,478 Real Estate-Residential and Home Equity Secured for Personal Purpose 3,379 136 (4) 7 3,518 Loans to Individuals 469 47 (51) 16 481 Lease Financings 1,275 (14) (110) 90 1,241 Unallocated 246 29 N/A N/A 275 Total $ 31,602 $ 2,076 $ (1,216) $ 138 $ 32,600 N/A – Not applicable (Dollars in thousands) Beginning balance, prior to adoption of ASU No. 2016-13 for CECL Adjustment to initially apply ASU No. 2016-13 for CECL (Recovery of provision) provision for credit losses Charge-offs Recoveries Ending balance Six Months Ended June 30, 2020 Reserve for credit losses, loans and leases: Commercial, Financial and Agricultural $ 8,759 $ 5,284 $ 3,596 $ (1,225) $ 322 $ 16,736 Real Estate-Commercial 15,750 6,208 31,480 (2,802) 35 50,671 Real Estate-Construction 2,446 29 1,655 — — 4,130 Real Estate-Residential Secured for Business Purpose 2,622 2,502 3,147 (99) 8 8,180 Real Estate-Residential Secured for Personal Purpose 2,713 (706) 662 — — 2,669 Real Estate-Home Equity Secured for Personal Purpose 1,076 (364) 351 — 8 1,071 Loans to Individuals 470 104 286 (128) 39 771 Lease Financings 1,311 (135) 886 (364) 141 1,839 Unallocated 184 — (34) N/A N/A 150 Total $ 35,331 $ 12,922 $ 42,029 $ (4,618) $ 553 $ 86,217 Six Months Ended June 30, 2019 Reserve for credit losses, loans and leases: Commercial, Financial and Agricultural $ 7,983 $ — $ 2,531 $ (1,486) $ 101 $ 9,129 Real Estate-Commercial and Construction 13,903 — 1,558 (74) 91 15,478 Real Estate-Residential Secured for Business Purpose 2,236 — 232 — 10 2,478 Real Estate-Residential and Home Equity Secured for Personal Purpose 3,199 — 322 (15) 12 3,518 Loans to Individuals 484 — 95 (136) 38 481 Lease Financings 1,288 — 19 (214) 148 1,241 Unallocated 271 — 4 N/A N/A 275 Total $ 29,364 $ — $ 4,761 $ (1,925) $ 400 $ 32,600 N/A – Not applicable The following presents, by portfolio segment, the balance in the ACL on loans and leases, disaggregated on the basis of whether the loan or lease was measured for credit loss as a pooled loan or lease or if it was individually analyzed for a reserve at June 30, 2020 and 2019: Allowance for credit losses, loans and leases Loans and leases held for investment (Dollars in thousands) Ending balance: individually analyzed Ending balance: pooled Total ending balance Ending balance: individually analyzed Ending balance: pooled Loans measured at fair value Total ending balance At June 30, 2020 Commercial, Financial and Agricultural $ 905 $ 15,831 $ 16,736 $ 4,208 $ 818,525 $ — $ 822,733 Paycheck Protection Program — — — — 498,978 — 498,978 Real Estate-Commercial 19 50,652 50,671 17,568 2,204,667 255 2,222,490 Real Estate-Construction — 4,130 4,130 — 212,534 — 212,534 Real Estate-Residential Secured for Business Purpose 1 8,179 8,180 1,754 374,296 — 376,050 Real Estate-Residential Secured for Personal Purpose 210 2,459 2,669 1,268 461,244 — 462,512 Real Estate-Home Equity Secured for Personal Purpose — 1,071 1,071 977 172,064 — 173,041 Loans to Individuals — 771 771 — 29,222 — 29,222 Lease Financings — 1,839 1,839 — 154,249 — 154,249 Unallocated N/A 150 150 N/A N/A N/A N/A Total $ 1,135 $ 85,082 $ 86,217 $ 25,775 $ 4,925,779 $ 255 $ 4,951,809 At June 30, 2019 Commercial, Financial and Agricultural $ 99 $ 9,030 $ 9,129 $ 2,150 $ 934,999 $ — $ 937,149 Real Estate-Commercial and Construction 1,840 13,638 15,478 17,845 2,073,036 1,725 2,092,606 Real Estate-Residential Secured for Business Purpose 165 2,313 2,478 1,596 364,044 — 365,640 Real Estate-Residential and Home Equity Secured for Personal Purpose 335 3,183 3,518 3,511 594,226 — 597,737 Loans to Individuals — 481 481 — 32,485 — 32,485 Lease Financings — 1,241 1,241 — 142,287 — 142,287 Unallocated N/A 275 275 N/A N/A N/A N/A Total $ 2,439 $ 30,161 $ 32,600 $ 25,102 $ 4,141,077 $ 1,725 $ 4,167,904 N/A – Not applicable Troubled Debt Restructured Loans The following presents, by class of loans, information regarding accruing and nonaccrual loans that were restructured: Three Months Ended June 30, 2020 Three Months Ended June 30, 2019 (Dollars in thousands) Number Pre- Post- Number Pre- Post- Accruing Troubled Debt Restructured Loans: Real estate—home equity secured for personal purpose — $ — $ — 1 $ 55 $ 55 Total — $ — $ — 1 $ 55 $ 55 Nonaccrual Troubled Debt Restructured Loans: Commercial, financial and agricultural 1 $ 619 $ 619 — $ — $ — Total 1 $ 619 $ 619 — $ — $ — Six Months Ended June 30, 2020 Six Months Ended June 30, 2019 (Dollars in thousands) Number Pre- Post- Number Pre- Post- Accruing Troubled Debt Restructured Loans: Real estate—home equity secured for personal purpose — $ — $ — 1 $ 55 $ 55 Total — $ — $ — 1 $ 55 $ 55 Nonaccrual Troubled Debt Restructured Loans: Commercial, financial and agricultural* 1 $ 619 $ 619 2 $ 956 $ 956 Real estate—commercial real estate* — — — 1 1,313 1,313 Total 1 $ 619 $ 619 3 $ 2,269 $ 2,269 * The three nonaccrual troubled debt restructured loans in the above table totaling $2.3 million were modified via the execution of a forbearance agreement during the six months ended June 30, 2019. These loans relate to one borrower and were on nonaccrual status at the time of modification. As of June 30, 2020, the Corporation modified approximately 1,420 loans and leases with principal balances totaling $720.1 million via principal and/or interest deferrals. These modifications were done in accordance with Section 4013 of the CARES Act and the Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customer Affected by the Coronavirus . Accordingly, these loans and leases were not categorized as troubled debt restructurings. The following presents, by class of loans, information regarding the types of concessions granted on accruing and nonaccrual loans that were restructured during the three and six months ended June 30, 2020 and 2019. Amortization Period Extension (Dollars in thousands) No. of Amount Three Months Ended June 30, 2020 Accruing Troubled Debt Restructured Loans: Total — $ — Nonaccrual Troubled Debt Restructured Loans: Commercial, financial and agricultural 1 $ 619 Total 1 $ 619 Three Months Ended June 30, 2019 Accruing Troubled Debt Restructured Loans: Real estate—home equity secured for personal purpose 1 $ 55 Total 1 $ 55 Nonaccrual Troubled Debt Restructured Loans: Total — $ — Six Months Ended June 30, 2020 Accruing Troubled Debt Restructured Loans: Total — $ — Nonaccrual Troubled Debt Restructured Loans: Commercial, financial and agricultural 1 $ 619 Total 1 $ 619 Six Months Ended June 30, 2019 Accruing Troubled Debt Restructured Loans: Real estate—home equity secured for personal purpose 1 $ 55 Total 1 $ 55 Nonaccrual Troubled Debt Restructured Loans: Commercial, financial and agricultural 2 $ 956 Real estate—commercial real estate 1 1,313 Total 3 $ 2,269 The following presents, by class of loans, information regarding accruing and nonaccrual troubled debt restructured loans, for which there were payment defaults within twelve months of the restructuring date: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (Dollars in thousands) Number Recorded Number Recorded Number Recorded Number Recorded Accruing Troubled Debt Restructured Loans: Total — $ — — $ — — $ — — $ — Nonaccrual Troubled Debt Restructured Loans: Commercial, financial and agricultural 1 $ 13 — $ — 1 $ 13 — $ — Total 1 $ 13 — $ — 1 $ 13 — $ — The following presents, by class of loans, information regarding consumer mortgages collateralized by residential real estate property that are in the process of foreclosure at June 30, 2020 and December 31, 2019: (Dollars in thousands) At June 30, 2020 At December 31, 2019 Real estate-residential secured for personal purpose $ 64 $ 714 Real estate-home equity secured for personal purpose 228 1,058 Total $ 292 $ 1,772 The following presents foreclosed residential real estate property included in other real estate owned at June 30, 2020 and December 31, 2019. (Dollars in thousands) At June 30, 2020 At December 31, 2019 Foreclosed residential real estate $ 71 $ 71 Lease Financings The Corporation, through Univest Capital, Inc., an equipment financing business and a subsidiary of the Bank, provides lease financing to customers primarily in the form of sales-type leases with fixed payment terms and $1.00 buyout clauses. A minor number of contracts are classified as either direct financing leases or operating leases. The fair value of the identified assets within sales-type and direct financing leases are equal to the carrying amount such that there is no profit or loss recorded or deferred upon lease commencement. All receivables related to the equipment financing business are recorded within lease financings. The following presents the schedule of minimum lease payments receivable: (Dollars in thousands) At June 30, 2020 At December 31, 2019 2020 (excluding the six months ended June 30, 2020) $ 31,551 $ 57,515 2021 53,258 45,510 2022 39,827 32,233 2023 25,599 18,345 2024 12,590 6,639 Thereafter 4,836 2,259 Total future minimum lease payments receivable 167,661 162,501 Plus: Unguaranteed residual 927 886 Plus: Initial direct costs 2,339 2,374 Less: Imputed interest (16,678) (16,340) Lease financings $ 154,249 $ 149,421 |