Loans and Leases | Loans and Leases Summary of Major Loan and Lease Categories At December 31, (Dollars in thousands) 2020 2019 Commercial, financial and agricultural $ 892,665 $ 947,029 Paycheck Protection Program 483,773 — Real estate-commercial 2,458,872 2,040,441 Real estate-construction 243,355 232,595 Real estate-residential secured for business purpose 381,446 373,973 Real estate-residential secured for personal purpose 487,600 439,059 Real estate-home equity secured for personal purpose 166,609 174,435 Loans to individuals 27,482 29,883 Lease financings 165,039 149,421 Loans and leases held for investment, net of deferred income 5,306,841 4,386,836 Less: Allowance for credit losses, loans and leases (83,044) (35,331) Net loans and leases held for investment $ 5,223,797 $ 4,351,505 Imputed interest on lease financings, included in the above table $ (17,670) $ (16,340) Net deferred (fees) costs, included in the above table (2,903) 5,999 Overdraft deposits included in the above table 948 407 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 December 31, 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 December 31, 2020 Commercial, financial and agricultural $ 1,104 $ 279 $ 50 $ 1,433 $ 888,405 $ 889,838 $ 2,827 $ 892,665 Paycheck Protection Program — — — — 483,773 483,773 — 483,773 Real estate—commercial real estate and construction: Commercial real estate 3,230 859 945 5,034 2,431,099 2,436,133 22,739 2,458,872 Construction 361 — — 361 242,994 243,355 — 243,355 Real estate—residential and home equity: Residential secured for business purpose 3,726 603 — 4,329 374,331 378,660 2,786 381,446 Residential secured for personal purpose 6,057 80 — 6,137 479,377 485,514 2,086 487,600 Home equity secured for personal purpose 607 32 — 639 164,923 165,562 1,047 166,609 Loans to individuals 190 74 185 449 27,033 27,482 — 27,482 Lease financings 898 291 212 1,401 163,431 164,832 207 165,039 Total $ 16,173 $ 2,218 $ 1,392 $ 19,783 $ 5,255,366 $ 5,275,149 $ 31,692 $ 5,306,841 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 December 31, 2020 and 2019. At December 31, 2020 2019 (Dollars in thousands) Nonaccrual Accruing Loans and Total Nonperforming Nonaccrual Accruing Loans and Total Nonperforming Commercial, financial and agricultural $ 2,827 $ — $ 50 $ 2,877 $ 3,442 $ — $ 20 $ 3,462 Real estate—commercial real estate and construction: Commercial real estate 22,739 — 945 23,684 27,928 — — 27,928 Construction — — — — 257 — — 257 Real estate—residential and home equity: Residential secured for business purpose 2,786 — — 2,786 2,980 — — 2,980 Residential secured for personal purpose 2,086 — — 2,086 2,038 — — 2,038 Home equity secured for personal purpose 1,047 53 — 1,100 1,427 54 — 1,481 Loans to individuals — — 185 185 — — 74 74 Lease financings 207 — 212 419 506 — 49 555 Total $ 31,692 $ 53 $ 1,392 $ 33,137 $ 38,578 $ 54 $ 143 $ 38,775 * Includes nonaccrual troubled debt restructured loans of $14.1 million and $13.8 million at December 31, 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 December 31, 2020. (Dollars in thousands) Nonaccrual With No ACL Nonaccrual With ACL Total Nonaccrual Loans 90 Days or more Past Due and Accruing Interest At December 31, 2020 Commercial, financial and agricultural $ 2,187 $ 640 $ 2,827 $ 50 Real estate-commercial 22,739 — 22,739 945 Real estate-residential secured for business purpose 2,663 123 2,786 — Real estate-residential secured for personal purpose 1,958 128 2,086 — Real estate-home equity secured for personal purpose 1,047 — 1,047 — Loans to individuals — — — 185 Lease financings — 207 207 212 Total $ 30,594 $ 1,098 $ 31,692 $ 1,392 For the year ended December 31, 2020, $4 thousand of interest income was recognized on nonaccrual loans and leases. The following table presents the amortized cost basis of collateral-dependent nonaccrual loans by class of loans and type of collateral as of December 31, 2020. (Dollars in thousands) Real Estate Other (1) None (2) Total At December 31, 2020 Commercial, financial and agricultural $ 1,351 $ 1,194 $ 282 $ 2,827 Real estate-commercial 22,739 — — 22,739 Real estate-residential secured for business purpose 2,786 — — 2,786 Real estate-residential secured for personal purpose 2,086 — — 2,086 Real estate-home equity secured for personal purpose 1,047 — — 1,047 Total $ 30,009 $ 1,194 $ 282 $ 31,485 (1) Collateral consists of business assets, including accounts receivable and personal property. (2) Loans fully reserved given lack of collateral. Credit Quality Indicators The Corporation categorizes risk based on relevant information about the ability of the borrower to service their debt. Loans with a relationship balance of less than $1 million are reviewed when necessary based on their performance, primarily when such loan are delinquent. 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, 2020. The following is a description of the internal risk ratings and the likelihood of loss related to the credit quality of Commercial, financial and agricultural loans, Paycheck Protection Program loans, Real-estate commercial loans, Real-estate construction loans and Real estate-residential secured for a business purpose loans. 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 Based on the most recent analysis performed, the following table presents the recorded investment in loans and leases held for investment for Commercial, financial and agricultural loans, Paycheck Protection Program loans, Real-estate commercial loans, Real-estate construction loans and Real estate-residential secured for a business purpose loans by credit quality indicator at December 31, 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 December 31, 2020 Commercial, Financial and Agricultural Risk Rating 1. Pass $ 162,547 $ 93,967 $ 74,722 $ 38,906 $ 17,371 $ 56,053 $ 427,336 $ 870,902 2. Special Mention 2,723 783 316 500 777 1,144 8,318 14,561 3. Substandard — 430 362 28 — 627 5,755 7,202 Total $ 165,270 $ 95,180 $ 75,400 $ 39,434 $ 18,148 $ 57,824 $ 441,409 $ 892,665 Paycheck Protection Program Risk Rating 1. Pass $ 483,773 $ — $ — $ — $ — $ — $ — $ 483,773 2. Special Mention — — — — — — — — 3. Substandard — — — — — — — — Total $ 483,773 $ — $ — $ — $ — $ — $ — $ 483,773 Real Estate-Commercial Risk Rating 1. Pass $ 1,084,157 $ 481,997 $ 223,646 $ 268,236 $ 143,041 $ 157,503 $ 43,008 $ 2,401,588 2. Special Mention 6,220 10,076 3,498 — 1,250 5,870 1,247 28,161 3. Substandard 3,803 3,998 709 11,383 1,207 6,690 1,333 29,123 Total $ 1,094,180 $ 496,071 $ 227,853 $ 279,619 $ 145,498 $ 170,063 $ 45,588 $ 2,458,872 Real Estate-Construction Risk Rating 1. Pass $ 116,840 $ 59,507 $ 39,009 $ 113 $ 2,950 $ — $ 3,711 $ 222,130 2. Special Mention 21,225 — — — — — — 21,225 3. Substandard — — — — — — — — Total $ 138,065 $ 59,507 $ 39,009 $ 113 $ 2,950 $ — $ 3,711 $ 243,355 Real Estate-Residential Secured for Business Purpose Risk Rating 1. Pass $ 118,925 $ 72,149 $ 52,775 $ 43,347 $ 37,768 $ 25,170 $ 25,510 $ 375,644 2. Special Mention 1,354 — 188 77 175 130 — 1,924 3. Substandard 28 991 50 64 1,065 962 718 3,878 Total $ 120,307 $ 73,140 $ 53,013 $ 43,488 $ 39,008 $ 26,262 $ 26,228 $ 381,446 Totals By Risk Rating 1. Pass $ 1,966,242 $ 707,620 $ 390,152 $ 350,602 $ 201,130 $ 238,726 $ 499,565 $ 4,354,037 2. Special Mention 31,522 10,859 4,002 577 2,202 7,144 9,565 65,871 3. Substandard 3,831 5,419 1,121 11,475 2,272 8,279 7,806 40,203 Total $ 2,001,595 $ 723,898 $ 395,275 $ 362,654 $ 205,604 $ 254,149 $ 516,936 $ 4,460,111 The Corporation had no revolving loans which were converted to term loans included within recorded investment in loans and leases held for investment at December 31, 2020. The Corporation had no loans with a risk rating of Doubtful included within recorded investment in loans and leases held for investment at December 31, 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. The Corporation monitors the credit risk profile by payment activity for the following classifications of loans and leases: Real estate-residential secured for personal purpose loans, Real estate-home equity secured for personal purpose loans, Loans to individuals and Lease financings. 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, 2020. 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. Based on the most recent analysis performed, the following table presents the recorded investment in loans and leases held for investment for Real estate-residential secured for personal purpose loans, Real estate-home equity secured for personal purpose loans, Loans to individuals and Lease financings by credit quality indicator at December 31, 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 December 31, 2020 Real Estate-Residential Secured for Personal Purpose Payment Performance 1. Performing $ 191,987 $ 61,880 $ 56,314 $ 50,983 $ 38,975 $ 84,138 $ 1,237 $ 485,514 2. Nonperforming 666 — 56 — — 1,364 — 2,086 Total $ 192,653 $ 61,880 $ 56,370 $ 50,983 $ 38,975 $ 85,502 $ 1,237 $ 487,600 Real Estate-Home Equity Secured for Personal Purpose Payment Performance 1. Performing $ 1,195 $ 815 $ 829 $ 1,160 $ 518 $ 2,189 $ 158,803 $ 165,509 2. Nonperforming — — 198 — — 36 866 1,100 Total $ 1,195 $ 815 $ 1,027 $ 1,160 $ 518 $ 2,225 $ 159,669 $ 166,609 Loans to Individuals Payment Performance 1. Performing $ 1,795 $ 1,425 $ 970 $ 441 $ 220 $ 2,266 $ 20,180 $ 27,297 2. Nonperforming — — — — — 23 162 185 Total $ 1,795 $ 1,425 $ 970 $ 441 $ 220 $ 2,289 $ 20,342 $ 27,482 Lease Financings Payment Performance 1. Performing $ 72,173 $ 45,972 $ 30,679 $ 11,613 $ 3,616 $ 567 $ — $ 164,620 2. Nonperforming 12 182 5 205 7 8 — 419 Total $ 72,185 $ 46,154 $ 30,684 $ 11,818 $ 3,623 $ 575 $ — $ 165,039 Totals by Payment Performance 1. Performing $ 267,150 $ 110,092 $ 88,792 $ 64,197 $ 43,329 $ 89,160 $ 180,220 $ 842,940 2. Nonperforming 678 182 259 205 7 1,431 1,028 3,790 Total $ 267,828 $ 110,274 $ 89,051 $ 64,402 $ 43,336 $ 90,591 $ 181,248 $ 846,730 The Corporation had no revolving loans which were converted to term loans included within recorded investment in loans and leases held for investment at December 31, 2020. The following table presents by class, the recorded investment in loans and leases 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 Loan and Leases and Recorded Investment in Loans and Leases The ACL on loans increased during the year ended December 31, 2020 primarily due changes in economic assumptions, which were inherently impacted by COVID-19, and loan growth. There were no changes to the reasonable and supportable forecast period, the reversion period, or any significant methodology changes during the year ended December 31, 2020. The following presents, by portfolio segment, a summary of the activity in the allowance for credit losses, loans and leases, for the years ended December 31, 2020, 2019 and 2018: (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 (recovery of provision) for credit losses Charge-offs Recoveries Ending balance For the Year Ended December 31, 2020 Allowance for credit losses, loans and leases: Commercial, Financial and Agricultural $ 8,759 $ 5,284 $ 680 $ (1,884) $ 745 $ 13,584 Real Estate-Commercial 15,750 6,208 33,090 (2,853) 35 52,230 Real Estate-Construction 2,446 29 823 — — 3,298 Real Estate-Residential Secured for Business Purpose 2,622 2,502 2,306 (188) 75 7,317 Real Estate-Residential Secured for Personal Purpose 2,713 (706) 1,229 (181) — 3,055 Real Estate-Home Equity Secured for Personal Purpose 1,076 (364) 449 — 15 1,176 Loans to Individuals 470 104 146 (267) 80 533 Lease Financings 1,311 (135) 750 (526) 301 1,701 Unallocated 184 — (34) N/A N/A 150 Total $ 35,331 $ 12,922 $ 39,439 $ (5,899) $ 1,251 $ 83,044 For the Year Ended December 31, 2019 Allowance for credit losses, loans and leases: Commercial, Financial and Agricultural $ 7,983 $ — $ 2,374 $ (1,965) $ 367 $ 8,759 Real Estate-Commercial and Construction 13,903 — 4,602 (402) 93 18,196 Real Estate-Residential Secured for Business Purpose 2,236 — 396 (122) 112 2,622 Real Estate-Residential and Home Equity Secured for Personal Purpose 3,199 — 781 (212) 21 3,789 Loans to Individuals 484 — 246 (335) 75 470 Lease Financings 1,288 — 206 (427) 244 1,311 Unallocated 271 — (87) N/A N/A 184 Total $ 29,364 $ — $ 8,518 $ (3,463) $ 912 $ 35,331 For the Year Ended December 31, 2018 Allowance for credit losses, loans and leases: Commercial, Financial and Agricultural $ 6,742 $ — $ 13,756 $ (14,655) $ 2,140 $ 7,983 Real Estate-Commercial and Construction 9,839 — 3,771 (40) 333 13,903 Real Estate-Residential Secured for Business Purpose 1,661 — 326 (31) 280 2,236 Real Estate-Residential and Home Equity Secured for Personal Purpose 1,754 — 1,367 — 78 3,199 Loans to Individuals 373 — 376 (353) 88 484 Lease Financings 1,132 — 497 (572) 231 1,288 Unallocated 54 — 217 N/A N/A 271 Total $ 21,555 $ — $ 20,310 $ (15,651) $ 3,150 $ 29,364 N/A – Not applicable Charge-offs for the year ended December 31, 2018 included a charge-off of $12.7 million during the second quarter of 2018 for a commercial loan relationship related to fraudulent activities by employees of the borrower. The Bank owned a participating interest which originally totaled $13.0 million in an approximately $80.0 million commercial lending facility. The charge-off represented the entire principal amount owed to the Bank. During the fourth quarter of 2018, the Bank recovered $1.8 million from this previously charged-off loan. The net charge-off for this loan for the year ended December 31, 2018 was $10.9 million. 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 December 31, 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 December 31, 2020 Commercial, Financial and Agricultural $ 535 $ 13,049 $ 13,584 $ 2,827 $ 889,838 $ — $ 892,665 Paycheck Protection Program — — — — 483,773 — 483,773 Real Estate-Commercial — 52,230 52,230 22,739 2,435,946 187 2,458,872 Real Estate-Construction — 3,298 3,298 — 243,355 — 243,355 Real Estate-Residential Secured for Business Purpose 24 7,293 7,317 2,786 378,660 — 381,446 Real Estate-Residential Secured for Personal Purpose 26 3,029 3,055 2,086 485,514 — 487,600 Real Estate-Home Equity Secured for Personal Purpose — 1,176 1,176 1,047 165,562 — 166,609 Loans to Individuals — 533 533 — 27,482 — 27,482 Lease Financings — 1,701 1,701 — 165,039 — 165,039 Unallocated N/A 150 150 N/A N/A N/A N/A Total $ 585 $ 82,459 $ 83,044 $ 31,485 $ 5,275,169 $ 187 $ 5,306,841 At December 31, 2019 Commercial, Financial and Agricultural $ 44 $ 8,715 $ 8,759 $ 3,442 $ 943,587 $ — $ 947,029 Real Estate-Commercial and Construction 1,562 16,634 18,196 28,185 2,244,534 317 2,273,036 Real Estate-Residential Secured for Business Purpose 306 2,316 2,622 2,980 370,993 — 373,973 Real Estate-Residential and Home Equity Secured for Personal Purpose 196 3,593 3,789 3,519 609,975 — 613,494 Loans to Individuals — 470 470 — 29,883 — 29,883 Lease Financings — 1,311 1,311 277 149,144 — 149,421 Unallocated N/A 184 184 N/A N/A N/A N/A Total $ 2,108 $ 33,223 $ 35,331 $ 38,403 $ 4,348,116 $ 317 $ 4,386,836 N/A – Not applicable Troubled Debt Restructured Loans The following presents, by class of loans, information regarding accruing and nonaccrual loans that were restructured during the years ended December 31, 2020 and 2019: For the Years Ended December 31, 2020 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 4 $ 1,475 $ 1,475 Real estate—commercial real estate — — — 2 12,414 12,414 Real estate—residential secured for personal purpose 1 544 544 — — — Total 2 $ 1,163 $ 1,163 6 $ 13,889 $ 13,889 The table above includes two nonaccrual troubled debt restructured loans totaling $11.6 million which were modified via an incremental extension of credit to an entity which was experiencing financial difficulties during the year ended December 31, 2019. The table above also includes three nonaccrual troubled debt restructured loans totaling $2.3 million to one borrower which were modified via the execution of a forbearance agreement during the year ended December 31, 2019. All loans 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 Customer Affected by the Coronavirus during the year ended December 31, 2020 and have not categorized these modifications as troubled debt restructurings. These loans and leases had a combined principal balance of approximately $68.0 million as of December 31, 2020, which represents approximately 1.4% of the loan portfolio, excluding PPP loans. The following presents, by class of loans, information regarding the types of concessions granted on accruing and nonaccrual loans that were restructured during the years ended December 31, 2020 and 2019 (excluding loans modified 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 ): Maturity Date Amortization Period Extension Incremental Extension of Credit Total Concessions (Dollars in thousands) No. of Amount No. of Amount No. of Amount No. of Amount For the Year Ended December 31, 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 For the Year Ended December 31, 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 1 $ 500 4 $ 1,475 Real estate—commercial real estate — — 1 1,313 1 11,101 2 12,414 Total 1 $ 19 3 $ 2,269 2 $ 11,601 6 $ 13,889 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: For the Years Ended December 31, 2020 2019 (Dollars in thousands) Number Recorded Number Recorded Accruing Troubled Debt Restructured Loans: Total — $ — — $ — Nonaccrual Troubled Debt Restructured Loans: Commercial, financial and agricultural — $ — 1 $ 17 Total — $ — 1 $ 17 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 December 31, 2020 and 2019: (Dollars in thousands) At December 31, 2020 At December 31, 2019 Real estate-residential secured for personal purpose $ 64 $ 714 Real estate-home equity secured for personal purpose — 1,058 Total $ 64 $ 1,772 The following presents foreclosed residential real estate property included in other real estate owned at December 31, 2020 and 2019. (Dollars in thousands) At December 31, 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 maturity analysis of lease financing receivables: (Dollars in thousands) At December 31, 2020 At December 31, 2019 2020 N/A $ 57,515 2021 61,724 45,510 2022 49,970 32,233 2023 35,631 18,345 2024 20,821 6,639 2025 8,319 957 Thereafter 2,763 1,302 Total lease financing receivables 179,228 162,501 Plus: Unguaranteed residual 914 886 Plus: Initial direct costs 2,567 2,374 Less: Imputed interest (17,670) (16,340) Net investment in lease financing receivables $ 165,039 $ 149,421 |