Loans and Leases | Loans and Leases Summary of Major Loan and Lease Categories (Dollars in thousands) At September 30, 2020 At December 31, 2019 Commercial, financial and agricultural $ 894,314 $ 947,029 Paycheck Protection Program 501,580 — Real estate-commercial 2,369,691 2,040,441 Real estate-construction 233,590 232,595 Real estate-residential secured for business purpose 378,239 373,973 Real estate-residential secured for personal purpose 474,688 439,059 Real estate-home equity secured for personal purpose 172,448 174,435 Loans to individuals 27,771 29,883 Lease financings 159,535 149,421 Total loans and leases held for investment, net of deferred income $ 5,211,856 $ 4,386,836 Imputed interest on lease financings, included in the above table $ (17,319) $ (16,340) Net deferred (fees) costs, included in the above table (4,340) 5,999 Overdraft deposits included in the above table 182 407 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 September 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 September 30, 2020 Commercial, financial and agricultural $ 6,886 $ 244 $ 27 $ 7,157 $ 883,348 $ 890,505 $ 3,809 $ 894,314 Paycheck Protection Program — — — — 501,580 501,580 — 501,580 Real estate—commercial real estate and construction: Commercial real estate 5,341 7,835 1,539 14,715 2,334,512 2,349,227 20,464 2,369,691 Construction 5,501 — — 5,501 228,089 233,590 — 233,590 Real estate—residential and home equity: Residential secured for business purpose 2,844 1,553 1,027 5,424 370,664 376,088 2,151 378,239 Residential secured for personal purpose 2,119 47 228 2,394 469,899 472,293 2,395 474,688 Home equity secured for personal purpose 428 96 — 524 170,976 171,500 948 172,448 Loans to individuals 104 29 23 156 27,615 27,771 — 27,771 Lease financings 761 1,807 729 3,297 155,986 159,283 252 159,535 Total $ 23,984 $ 11,611 $ 3,573 $ 39,168 $ 5,142,669 $ 5,181,837 $ 30,019 $ 5,211,856 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 September 30, 2020 and December 31, 2019. At September 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 $ 3,809 $ — $ 27 $ 3,836 $ 3,442 $ — $ 20 $ 3,462 Real estate—commercial real estate and construction: Commercial real estate 20,464 — 1,539 22,003 27,928 — — 27,928 Construction — — — — 257 — — 257 Real estate—residential and home equity: Residential secured for business purpose 2,151 — 1,027 3,178 2,980 — — 2,980 Residential secured for personal purpose 2,395 — 228 2,623 2,038 — — 2,038 Home equity secured for personal purpose 948 53 — 1,001 1,427 54 — 1,481 Loans to individuals — — 23 23 — — 74 74 Lease financings 252 — 729 981 506 — 49 555 Total $ 30,019 $ 53 $ 3,573 $ 33,645 $ 38,578 $ 54 $ 143 $ 38,775 * Includes nonaccrual troubled debt restructured loans of $14.2 million and $13.8 million at September 30, 2020 and December 31, 2019, respectively. The following table presents the amortized cost basis of loans and leases on nonaccrual status and loans and leases 90 days or more past due and still accruing as of September 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 September 30, 2020 Commercial, financial and agricultural $ 2,361 $ 1,448 $ 3,809 $ 27 Real estate-commercial 20,238 226 20,464 1,539 Real estate-residential secured for business purpose 1,987 164 2,151 1,027 Real estate-residential secured for personal purpose 1,862 533 2,395 228 Real estate-home equity secured for personal purpose 948 — 948 — Loans to individuals — — — 23 Lease financings — 252 252 729 Total $ 27,396 $ 2,623 $ 30,019 $ 3,573 The following table presents the amortized cost basis of collateral-dependent nonaccrual loans by class of loans and type of collateral as of September 30, 2020. (Dollars in thousands) Real Estate Other (1) None (2) Total At September 30, 2020 Commercial, financial and agricultural $ 1,459 $ 1,784 $ 566 $ 3,809 Real estate-commercial 20,464 — — 20,464 Real estate-residential secured for business purpose 2,151 — — 2,151 Real estate-residential secured for personal purpose 2,395 — — 2,395 Real estate-home equity secured for personal purpose 948 — — 948 Total $ 27,417 $ 1,784 $ 566 $ 29,767 (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 September 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 table presents by class, the recorded investment in loans and leases held for investment by credit quality indicator at September 30, 2020 under ASC 326. Term Loans Amortized Cost Basis by Origination Year (Dollars in thousands) 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Total At September 30, 2020 Commercial, Financial and Agricultural Risk Rating 1. Pass $ 147,403 $ 102,389 $ 78,294 $ 44,321 $ 29,672 $ 60,750 $ 410,169 $ 872,998 2. Special Mention 916 804 333 529 849 1,226 7,723 12,380 3. Substandard 375 714 724 60 — 687 6,376 8,936 Total $ 148,694 $ 103,907 $ 79,351 $ 44,910 $ 30,521 $ 62,663 $ 424,268 $ 894,314 Paycheck Protection Program Risk Rating 1. Pass $ 501,580 $ — $ — $ — $ — $ — $ — $ 501,580 2. Special Mention — — — — — — — — 3. Substandard — — — — — — — — Total $ 501,580 $ — $ — $ — $ — $ — $ — $ 501,580 Real Estate-Commercial Risk Rating 1. Pass $ 912,215 $ 494,465 $ 245,307 $ 279,472 $ 153,490 $ 191,043 $ 45,464 $ 2,321,456 2. Special Mention 1,776 13,082 — 1,128 1,345 5,935 1,912 25,178 3. Substandard — 1,365 1,047 11,648 1,218 6,942 837 23,057 Total $ 913,991 $ 508,912 $ 246,354 $ 292,248 $ 156,053 $ 203,920 $ 48,213 $ 2,369,691 Real Estate-Construction Risk Rating 1. Pass $ 86,135 $ 72,157 $ 45,140 $ 1,804 $ 2,950 $ — $ 4,925 $ 213,111 2. Special Mention 20,479 — — — — — — 20,479 3. Substandard — — — — — — — — Total $ 106,614 $ 72,157 $ 45,140 $ 1,804 $ 2,950 $ — $ 4,925 $ 233,590 Real Estate-Residential Secured for Business Purpose Risk Rating 1. Pass $ 84,624 $ 76,313 $ 60,041 $ 47,244 $ 41,529 $ 40,042 $ 24,058 $ 373,851 2. Special Mention 108 464 189 77 180 481 200 1,699 3. Substandard 30 537 51 69 1,071 863 68 2,689 Total $ 84,762 $ 77,314 $ 60,281 $ 47,390 $ 42,780 $ 41,386 $ 24,326 $ 378,239 The Corporation had no revolving loans which were converted to term loans included within recorded investment in loans and leases held for investment at September 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 September 30, 2020. The following table presents 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 The Corporation had no loans with a risk rating of Doubtful included in loans and leases held for investment at December 31, 2019. 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 by class, the recorded investment in loans and leases held for investment by performance status at September 30, 2020 under ASC 326. Term Loans Amortized Cost Basis by Origination Year (Dollars in thousands) 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Total At September 30, 2020 Real Estate-Residential Secured for Personal Purpose Payment Performance 1. Performing $ 117,318 $ 78,421 $ 67,015 $ 60,289 $ 46,982 $ 100,749 $ 1,291 $ 472,065 2. Nonperforming — — 56 544 — 2,023 — 2,623 Total $ 117,318 $ 78,421 $ 67,071 $ 60,833 $ 46,982 $ 102,772 $ 1,291 $ 474,688 Real Estate-Home Equity Secured for Personal Purpose Payment Performance 1. Performing $ 1,002 $ 891 $ 1,179 $ 1,218 $ 588 $ 2,627 $ 163,942 $ 171,447 2. Nonperforming — — 103 — — 42 856 1,001 Total $ 1,002 $ 891 $ 1,282 $ 1,218 $ 588 $ 2,669 $ 164,798 $ 172,448 Loans to Individuals Payment Performance 1. Performing $ 967 $ 1,747 $ 1,158 $ 532 $ 317 $ 2,397 $ 20,630 $ 27,748 2. Nonperforming — — — — — 23 — 23 Total $ 967 $ 1,747 $ 1,158 $ 532 $ 317 $ 2,420 $ 20,630 $ 27,771 Lease Financings Payment Performance 1. Performing $ 53,992 $ 49,890 $ 34,527 $ 13,866 $ 5,380 $ 899 $ — $ 158,554 2. Nonperforming — 41 545 257 124 14 — 981 Total $ 53,992 $ 49,931 $ 35,072 $ 14,123 $ 5,504 $ 913 $ — $ 159,535 The following table presents by class, he recorded investment in loans and lease held for investment by performance status at December 31, 2019 under ASC 310. (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 Allowance 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 allowance for credit losses, loans and leases, for the three and nine months ended September 30, 2020 and 2019: (Dollars in thousands) Beginning balance (Reversal of provision) provision for credit losses Charge-offs Recoveries Ending balance Three Months Ended September 30, 2020 Allowance for credit losses, loans and leases: Commercial, Financial and Agricultural $ 16,736 $ (2,401) $ (142) $ 354 $ 14,547 Real Estate-Commercial 50,671 7,481 — — 58,152 Real Estate-Construction 4,130 355 — — 4,485 Real Estate-Residential Secured for Business Purpose 8,180 251 (88) 23 8,366 Real Estate-Residential Secured for Personal Purpose 2,669 47 — — 2,716 Real Estate-Home Equity Secured for Personal Purpose 1,071 204 — 4 1,279 Loans to Individuals 771 (170) (69) 17 549 Lease Financings 1,839 (149) (149) 85 1,626 Unallocated 150 — N/A N/A 150 Total $ 86,217 $ 5,618 $ (448) $ 483 $ 91,870 Three Months Ended September 30, 2019 Allowance for credit losses, loans and leases: Commercial, Financial and Agricultural $ 9,129 $ 222 $ (283) $ 182 $ 9,250 Real Estate-Commercial and Construction 15,478 593 (251) 1 15,821 Real Estate-Residential Secured for Business Purpose 2,478 109 — 98 2,685 Real Estate-Residential and Home Equity Secured for Personal Purpose 3,518 273 (183) 4 3,612 Loans to Individuals 481 47 (73) 20 475 Lease Financings 1,241 (24) (54) 71 1,234 Unallocated 275 310 N/A N/A 585 Total $ 32,600 $ 1,530 $ (844) $ 376 $ 33,662 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 Provision (reversal of provision) for credit losses Charge-offs Recoveries Ending balance Nine Months Ended September 30, 2020 Allowance for credit losses, loans and leases: Commercial, Financial and Agricultural $ 8,759 $ 5,284 $ 1,195 $ (1,367) $ 676 $ 14,547 Real Estate-Commercial 15,750 6,208 38,961 (2,802) 35 58,152 Real Estate-Construction 2,446 29 2,010 — — 4,485 Real Estate-Residential Secured for Business Purpose 2,622 2,502 3,398 (187) 31 8,366 Real Estate-Residential Secured for Personal Purpose 2,713 (706) 709 — — 2,716 Real Estate-Home Equity Secured for Personal Purpose 1,076 (364) 555 — 12 1,279 Loans to Individuals 470 104 116 (197) 56 549 Lease Financings 1,311 (135) 737 (513) 226 1,626 Unallocated 184 — (34) N/A N/A 150 Total $ 35,331 $ 12,922 $ 47,647 $ (5,066) $ 1,036 $ 91,870 Nine Months Ended September 30, 2019 Allowance for credit losses, loans and leases: Commercial, Financial and Agricultural $ 7,983 $ — $ 2,753 $ (1,769) $ 283 $ 9,250 Real Estate-Commercial and Construction 13,903 — 2,151 (325) 92 15,821 Real Estate-Residential Secured for Business Purpose 2,236 — 341 — 108 2,685 Real Estate-Residential and Home Equity Secured for Personal Purpose 3,199 — 595 (198) 16 3,612 Loans to Individuals 484 — 142 (209) 58 475 Lease Financings 1,288 — (5) (268) 219 1,234 Unallocated 271 — 314 N/A N/A 585 Total $ 29,364 $ — $ 6,291 $ (2,769) $ 776 $ 33,662 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 September 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 September 30, 2020 Commercial, Financial and Agricultural $ 891 $ 13,656 $ 14,547 $ 3,809 $ 890,505 $ — $ 894,314 Paycheck Protection Program — — — — 501,580 — 501,580 Real Estate-Commercial 19 58,133 58,152 20,464 2,349,006 221 2,369,691 Real Estate-Construction — 4,485 4,485 — 233,590 — 233,590 Real Estate-Residential Secured for Business Purpose 1 8,365 8,366 2,151 376,088 — 378,239 Real Estate-Residential Secured for Personal Purpose 181 2,535 2,716 2,395 472,293 — 474,688 Real Estate-Home Equity Secured for Personal Purpose — 1,279 1,279 948 171,500 — 172,448 Loans to Individuals — 549 549 — 27,771 — 27,771 Lease Financings — 1,626 1,626 — 159,535 — 159,535 Unallocated N/A 150 150 N/A N/A N/A N/A Total $ 1,092 $ 90,778 $ 91,870 $ 29,767 $ 5,181,868 $ 221 $ 5,211,856 At September 30, 2019 Commercial, Financial and Agricultural $ 390 $ 8,860 $ 9,250 $ 2,233 $ 956,920 $ — $ 959,153 Real Estate-Commercial and Construction 1,485 14,336 15,821 28,280 2,122,066 349 2,150,695 Real Estate-Residential Secured for Business Purpose 414 2,271 2,685 2,887 357,834 — 360,721 Real Estate-Residential and Home Equity Secured for Personal Purpose 155 3,457 3,612 3,520 606,322 — 609,842 Loans to Individuals — 475 475 2 30,713 — 30,715 Lease Financings — 1,234 1,234 306 140,501 — 140,807 Unallocated N/A 585 585 N/A N/A N/A N/A Total $ 2,444 $ 31,218 $ 33,662 $ 37,228 $ 4,214,356 $ 349 $ 4,251,933 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 September 30, 2020 Three Months Ended September 30, 2019 (Dollars in thousands) Number Pre- Post- Number Pre- Post- Accruing Troubled Debt Restructured Loans: Total — $ — $ — — $ — $ — Nonaccrual Troubled Debt Restructured Loans: Commercial, financial and agricultural — $ — $ — 1 $ 19 $ 19 Real estate—residential secured for personal purpose 1 544 544 — — — Total 1 $ 544 $ 544 1 $ 19 $ 19 Nine Months Ended September 30, 2020 Nine Months Ended September 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 3 $ 975 $ 975 Real estate—commercial real estate* — — — 1 1,313 1,313 Real estate—residential secured for personal purpose 1 544 544 — — — Total 2 $ 1,163 $ 1,163 4 $ 2,288 $ 2,288 * 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 nine months ended September 30, 2019. These loans relate to one borrower and were on nonaccrual status at the time of modification. The Corporation modified certain loans and leases via principal and/or interest deferrals in accordance with Section 4013 of the CARES Act and the Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus and have not categorized these modifications 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 nine months ended September 30, 2020 and 2019. Maturity Date Amortization Period Extension Total Concessions (Dollars in thousands) No. of Amount No. of Amount No. of Amount Three Months Ended September 30, 2020 Accruing Troubled Debt Restructured Loans: Total — $ — — $ — — $ — Nonaccrual Troubled Debt Restructured Loans: Real estate—residential secured for personal purpose — $ — 1 $ 544 1 $ 544 Total — $ — 1 $ 544 1 $ 544 Three Months Ended September 30, 2019 Accruing Troubled Debt Restructured Loans: Total — $ — — $ — — $ — Nonaccrual Troubled Debt Restructured Loans: Commercial, financial and agricultural 1 $ 19 — $ — 1 $ 19 Total 1 $ 19 — $ — 1 $ 19 Nine Months Ended September 30, 2020 Accruing Troubled Debt Restructured Loans: Total — $ — — $ — — $ — Nonaccrual Troubled Debt Restructured Loans: Commercial, financial and agricultural — $ — 1 $ 619 1 $ 619 Real estate—residential secured for personal purpose — — 1 544 1 544 Total — $ — 2 $ 1,163 2 $ 1,163 Nine Months Ended September 30, 2019 Accruing Troubled Debt Restructured Loans: Real estate—home equity secured for personal purpose — $ — 1 $ 55 1 $ 55 Total — $ — 1 $ 55 1 $ 55 Nonaccrual Troubled Debt Restructured Loans: Commercial, financial and agricultural 1 $ 19 2 $ 956 3 $ 975 Real estate—commercial real estate — — 1 1,313 1 1,313 Total 1 $ 19 3 $ 2,269 4 $ 2,288 There were no accruing or nonaccrual troubled debt restructured loans for which there were payment defaults within twelve months of the restructuring date for the three and nine months ended September 30, 2020 or September 30, 2019. 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 September 30, 2020 and December 31, 2019: (Dollars in thousands) At September 30, 2020 At December 31, 2019 Real estate-residential secured for personal purpose $ 64 $ 714 Real estate-home equity secured for personal purpose 226 1,058 Total $ 290 $ 1,772 The following presents foreclosed residential real estate property included in other real estate owned at September 30, 2020 and December 31, 2019. (Dollars in thousands) At September 30, 2020 At December 31, 2019 Foreclosed residential real estate $ — $ 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 September 30, 2020 At December 31, 2019 2020 (excluding the nine months ended September 30, 2020) $ 14,587 $ 57,515 2021 58,029 45,510 2022 44,933 32,233 2023 30,902 18,345 2024 17,204 6,639 Thereafter 7,822 2,259 Total future minimum lease payments receivable 173,477 162,501 Plus: Unguaranteed residual 825 886 Plus: Initial direct costs 2,552 2,374 Less: Imputed interest (17,319) (16,340) Lease financings $ 159,535 $ 149,421 |