Loans Receivable and Allowance for Loan Losses | Loans Receivable and Allowance for Loan Losses Loans receivable at December 31, 2015 and 2014 are summarized in the table below: December 31, 2015 December 31, Originated Acquired Total 2014 Personal Banking: Residential mortgage loans $ 2,695,561 45,716 2,741,277 2,526,240 Home equity loans 1,055,907 131,199 1,187,106 1,066,131 Other consumer loans 307,961 202,656 510,617 242,744 Total Personal Banking 4,059,429 379,571 4,439,000 3,835,115 Business Banking: Commercial real estate loans 2,094,710 429,564 2,524,274 1,874,944 Commercial loans 372,540 65,175 437,715 419,525 Total Business Banking 2,467,250 494,739 2,961,989 2,294,469 Total loans receivable, gross 6,526,679 874,310 7,400,989 6,129,584 Deferred loan costs 14,806 5,259 20,065 6,095 Allowance for loan losses (60,970 ) (1,702 ) (62,672 ) (67,518 ) Undisbursed loan proceeds: Residential mortgage loans (10,778 ) — (10,778 ) (10,879 ) Commercial real estate loans (159,553 ) (13,287 ) (172,840 ) (73,760 ) Commercial loans (11,132 ) (4,183 ) (15,315 ) (61,149 ) Total loans receivable, net $ 6,299,052 860,397 7,159,449 5,922,373 As of December 31, 2015 , 2014 and 2013 , we serviced loans for others approximating $776.0 million , $734.9 million and $851.4 million , respectively. These loans serviced for others are not our assets and are not included in our financial statements. As of December 31, 2015 and 2014 , approximately 65% and 76% , respectively, of our loan portfolio was secured by properties located in Pennsylvania. We do not believe we have significant concentrations of credit risk to any one group of borrowers given our underwriting and collateral requirements. Loans receivable as of December 31, 2015 and 2014 include $2.417 billion and $1.876 billion , respectively, of adjustable rate loans and $4.984 billion and $4.254 billion , respectively, of fixed rate loans. Acquired loans were initially measured at fair value and subsequently accounted for under either Accounting Standards Codification (“ASC”) Topic 310-30 or ASC Topic 310-20. The following table provides information related to the outstanding principal balance and related carrying value of acquired loans for the dates indicated: December 31, 2015 Acquired loans evaluated individually for future credit losses: Outstanding principal balance $ 21,069 Carrying value 16,867 Acquired loans evaluated collectively for future credit losses: Outstanding principal balance 848,194 Carrying value 839,973 Total acquired loans: Outstanding principal balance 869,263 Carrying value 856,840 The following table provides information related to the changes in the accretable discount, which includes income recognized from contractual cash flows for the dates indicated: Total Balance at December 31, 2014 $ — LNB Bancorp, Inc. acquisition 1,672 Accretion (377 ) Net reclassification from nonaccretable yield 724 Balance at December 31, 2015 $ 2,019 The following table provides information related to purchased credit impaired loans by portfolio segment and by class of financing receivable at and for the year ended December 31, 2015: Carrying value Outstanding principal balance Related impairment reserve Average recorded investment in impaired loans Interest income/ accretion recognized Personal Banking: Residental mortgage loans $ 1,981 2,910 14 2,083 41 Home equity loans 2,084 3,455 6 2,222 51 Other consumer loans 267 492 2 305 18 Total Personal Banking 4,332 6,857 22 4,610 110 Business Banking: Commercial real estate loans 12,288 13,946 353 12,867 249 Commercial loans 247 266 — 335 18 Total Business Banking 12,535 14,212 353 13,202 267 Total $ 16,867 21,069 375 17,812 377 The following table provides information related to changes in the allowance for losses on loans receivable for the year ended December 31, 2015 : Balance Provision Charge-offs Recoveries Balance Originated loans: Personal Banking: Residential mortgage loans $ 4,692 (96 ) (1,057 ) 264 5,581 Home equity loans 3,941 693 (1,716 ) 414 4,550 Other consumer loans 7,488 7,985 (8,073 ) 1,458 6,118 Total Personal Banking 16,121 8,582 (10,846 ) 2,136 16,249 Business Banking: Commercial real estate loans 32,348 540 (5,741 ) 4,160 33,389 Commercial loans 12,501 2,768 (7,814 ) 4,032 13,515 Total Business Banking 44,849 3,308 (13,555 ) 8,192 46,904 Unallocated (1) — (4,365 ) — — 4,365 Total originated loans 60,970 7,525 (24,401 ) 10,328 67,518 Acquired loans: Personal Banking: Residential mortgage loans 18 47 (69 ) 40 — Home equity loans 101 247 (708 ) 562 — Other consumer loans 110 188 (201 ) 123 — Total Personal Banking 229 482 (978 ) 725 — Business Banking: Commercial real estate loans 1,439 1,545 (585 ) 479 — Commercial loans 34 160 (369 ) 243 — Total Business Banking 1,473 1,705 (954 ) 722 — Total acquired loans 1,702 2,187 (1,932 ) 1,447 — Total $ 62,672 9,712 (26,333 ) 11,775 67,518 (1) Due to enhancements in our allowance for loan losses process we allocated the previously unallocated allowance using both qualitative and quantitative factors. The following table provides information related to changes in the allowance for losses on loans receivable for the year ended December 31, 2014: Balance Provision Charge-offs Recoveries Balance Personal Banking: Residential mortgage loans $ 5,581 (556 ) (2,181 ) 443 7,875 Home equity loans 4,550 (1,106 ) (1,783 ) 194 7,245 Other consumer loans 6,118 5,864 (6,423 ) 1,190 5,487 Total Personal Banking 16,249 4,202 (10,387 ) 1,827 20,607 Business Banking: Commercial real estate loans 33,389 4,417 (8,422 ) 2,195 35,199 Commercial loans 13,515 11,992 (11,936 ) 2,579 10,880 Total Business Banking 46,904 16,409 (20,358 ) 4,774 46,079 Unallocated 4,365 (297 ) — — 4,662 Total $ 67,518 20,314 (30,745 ) 6,601 71,348 The following table provides information related to changes in the allowance for losses on loans receivable for the year ended December 31, 2013 : Balance Provision Charge-offs Recoveries Balance Personal Banking: Residential mortgage loans $ 7,875 1,954 (2,501 ) 420 8,002 Home equity loans 7,245 932 (2,239 ) 258 8,294 Other consumer loans 5,487 5,304 (6,055 ) 1,082 5,156 Total Personal Banking 20,607 8,190 (10,795 ) 1,760 21,452 Business Banking: Commercial real estate loans 35,199 8,347 (10,042 ) 2,305 34,589 Commercial loans 10,880 1,346 (5,007 ) 1,389 13,152 Total Business Banking 46,079 9,693 (15,049 ) 3,694 47,741 Unallocated 4,662 636 — — 4,026 Total $ 71,348 18,519 (25,844 ) 5,454 73,219 While we use available information to provide for losses, future additions to the allowance may be necessary based on changes in economic conditions. In addition, various regulatory agencies, as an integral part of their examination process, periodically review our allowance for loan losses. Such agencies may require us to recognize additions to the allowance based on their judgments about information available to them at the time of their examination. Management believes, to the best of their knowledge, that all known losses as of the balance sheet dates have been recorded. The following table provides information related to the loan portfolio by portfolio segment and by class of financing receivable as of December 31, 2015 : Recorded investment in loans receivable Allowance for loan losses Recorded investment in loans on nonaccrual (1) Recorded investment in loans 90 days or more past maturity and still accruing TDRs (1) Allowance for TDRs Additional commitments to customers with loans classified as TDRs Personal Banking: Residential mortgage loans $ 2,740,892 4,710 19,772 4 6,360 1,189 — Home equity loans 1,187,106 4,042 7,522 — 2,298 605 — Other consumer loans 520,289 7,598 3,452 976 — — — Total Personal Banking 4,448,287 16,350 30,746 980 8,658 1,794 — Business Banking: Commercial real estate loans 2,351,434 33,787 33,421 206 31,970 2,257 241 Commercial loans 422,400 12,535 7,495 148 10,487 631 79 Total Business Banking 2,773,834 46,322 40,916 354 42,457 2,888 320 Total $ 7,222,121 62,672 71,662 1,334 51,115 4,682 320 (1) Includes $21.1 million of nonaccrual TDRs. The following table provides information related to the loan portfolio by portfolio segment and by class of financing receivable as of December 31, 2014 : Recorded investment in loans receivable Allowance for loan losses Recorded investment in loans on nonaccrual (1) Recorded TDRs (1) Allowance for TDRs Additional commitments to customers with loans classified as TDRs Personal Banking: Residential mortgage loans $ 2,521,456 5,581 21,194 8 6,574 1,133 — Home equity loans 1,066,131 4,550 9,569 — 2,412 229 — Other consumer loans 242,744 6,118 2,820 206 — — — Total Personal Banking 3,830,331 16,249 33,583 214 8,986 1,362 — Business Banking: Commercial real estate loans 1,801,184 33,389 38,647 — 41,917 4,938 449 Commercial loans 358,376 13,515 7,578 21 10,885 1,095 814 Total Business Banking 2,159,560 46,904 46,225 21 52,802 6,033 1,263 Total $ 5,989,891 63,153 79,808 235 61,788 7,395 1,263 (1) Includes $24.5 million of nonaccrual TDRs. A loan is considered to be impaired, when, based on current information and events it is probable that we will be unable to collect all amounts due according to the contractual terms of the loan agreement including both contractual principal and interest payments. This includes non-accrual loans, loans more than 90 days delinquent and still accruing interest, loans for which we perform an impairment review and TDRs. Impairment is measured using one of three methods: (1) the present value of expected future cash flows discounted at the loan’s effective interest rate; (2) the loan’s observable market price; or (3) the fair value of collateral if the loan is collateral dependent, less costs of sale or disposition. If the measure of the impaired loan is less than the recorded investment in the loan, a specific allowance is allocated for the impairment. The following table provides information related to the composition of impaired loans by portfolio segment and by class of financing receivable at and for the year ended December 31, 2015 : Nonaccrual loans 90 or more days delinquent Nonaccrual loans less than 90 days delinquent Loans less than 90 days delinquent reviewed for impairment TDRs less than 90 days delinquent not included elsewhere Total impaired loans Average recorded investment in impaired loans Interest income recognized on impaired loans Personal Banking: Residential mortgage loans $ 15,810 3,962 — 5,086 24,858 24,554 944 Home equity loans 5,650 1,872 — 1,847 9,369 9,644 497 Other consumer loans 2,900 552 — — 3,452 2,977 101 Total Personal Banking 24,360 6,386 — 6,933 37,679 37,175 1,542 Business Banking: Commercial real estate loans 16,449 16,972 16,121 16,467 66,009 77,166 3,226 Commercial loans 2,459 5,036 2,014 4,654 14,163 16,187 694 Total Business Banking 18,908 22,008 18,135 21,121 80,172 93,353 3,920 Total $ 43,268 28,394 18,135 28,054 117,851 130,528 5,462 The following table provides information related to the composition of impaired loans by portfolio segment and by class of financing receivable at and for the year ended December 31, 2014 : Nonaccrual loans 90 or more days delinquent Nonaccrual loans less than 90 days delinquent Loans less than 90 days delinquent reviewed for impairment TDRs less than 90 days delinquent not included elsewhere Total impaired loans Average recorded investment in impaired loans Interest income recognized on impaired loans Personal Banking: Residential mortgage loans $ 17,696 3,498 — 5,845 27,039 28,227 817 Home equity loans 6,606 2,963 — 1,706 11,275 11,753 485 Other consumer loans 2,450 370 — — 2,820 2,383 66 Total Personal Banking 26,752 6,831 — 7,551 41,134 42,363 1,368 Business Banking: Commercial real estate loans 11,099 27,548 26,400 12,128 74,337 90,187 3,589 Commercial loans 3,475 4,103 5,266 6,026 21,708 27,088 914 Total Business Banking 14,574 31,651 31,666 18,154 96,045 117,275 4,503 Total $ 41,326 38,482 31,666 25,705 137,179 159,638 5,871 The following table provides information related to the composition of impaired loans by portfolio segment and by class of financing receivable at and for the year ended December 31, 2013 : Nonaccrual loans 90 or more days delinquent Nonaccrual loans less than 90 days delinquent Loans less than 90 days delinquent reviewed for impairment TDRs less than 90 days delinquent not included elsewhere Total impaired loans Average recorded investment in impaired loans Interest income recognized on impaired loans Personal Banking: Residential mortgage loans $ 24,625 2,652 — 3,372 30,649 29,994 723 Home equity loans 8,344 1,519 — 1,810 11,673 10,828 383 Other consumer loans 2,057 200 — — 2,257 1,976 44 Total Personal Banking 35,026 4,371 — 5,182 44,579 42,798 1,150 Business Banking: Commercial real estate loans 18,433 23,370 39,199 13,060 94,062 90,912 3,678 Commercial loans 4,298 21,723 5,219 3,963 35,203 41,303 1,127 Total Business Banking 22,731 45,093 44,418 17,023 129,265 132,215 4,805 Total $ 57,757 49,464 44,418 22,205 173,844 175,013 5,955 The following table provides information related to the evaluation of impaired loans by portfolio segment and by class of financing receivable as of and for the year ended December 31, 2015 : Loans collectively evaluated for impairment Loans individually evaluated for impairment Loans individually evaluated for impairment for which there is a related impairment reserve Related impairment reserve Loans individually evaluated for impairment for which there is no related reserve Personal Banking: Residential mortgage loans $ 2,733,741 7,151 7,151 1,189 — Home equity loans 1,184,808 2,298 2,298 605 — Other consumer loans 520,159 130 130 50 — Total Personal Banking 4,438,708 9,579 9,579 1,844 — Business Banking: Commercial real estate loans 2,297,599 53,835 35,937 2,675 17,898 Commercial loans 411,342 11,058 7,673 489 3,385 Total Business Banking 2,708,941 64,893 43,610 3,164 21,283 Total $ 7,147,649 74,472 53,189 5,008 21,283 The following table provides information related to the evaluation of impaired loans by portfolio segment and by class of financing receivable as of and for the year ended December 31, 2014 : Loans collectively evaluated for impairment Loans individually evaluated for impairment Loans individually evaluated for impairment for which there is a related impairment reserve Related impairment reserve Loans individually evaluated for impairment for which there is no related reserve Personal Banking: Residential mortgage loans $ 2,514,060 7,396 7,396 1,116 — Home equity loans 1,063,741 2,390 2,390 246 — Other consumer loans 242,678 66 66 1 — Total Personal Banking 3,820,479 9,852 9,852 1,363 — Business Banking: Commercial real estate loans 1,734,864 66,320 42,869 6,189 23,451 Commercial loans 343,416 14,960 10,938 1,378 4,022 Total Business Banking 2,078,280 81,280 53,807 7,567 27,473 Total $ 5,898,759 91,132 63,659 8,930 27,473 Our loan portfolios include certain loans that have been modified in a troubled debt restructuring (TDR), where economic concessions have been granted to borrowers who have experienced financial difficulties. These concessions typically result from our loss mitigation activities and could include: extending the note’s maturity date, permitting interest only payments, reducing the interest rate to a rate lower than current market rates for new debt with similar risk, reducing the principal payment, principal forbearance or other actions. These concessions are applicable to all loan segments and classes. Certain TDRs are classified as nonperforming at the time of restructuring and typically are returned to performing status after considering the borrower’s sustained repayment performance for a reasonable period of at least six consecutive months. When we modify loans in a TDR, we evaluate any possible impairment similar to other impaired loans based on the present value of expected future cash flows, discounted at the contractual interest rate of the original loan agreement, the loan’s observable market price or the current fair value of the collateral, less selling costs, for collateral dependent loans. If we determine that the value of the modified loan is less than the recorded investment in the loan (net of previous charge-offs, deferred loan fees or costs and unamortized premium or discount), impairment is recognized through an allowance estimate or a charge-off to the allowance. In periods subsequent to modification, we evaluate all TDRs, including those that have payment defaults, for possible impairment, using ASC 310-10. As a result, loans modified in a TDR may have the financial effect of increasing the specific allowance associated with the loan. Loans modified in a TDR are closely monitored for delinquency as an early indicator of possible future default. If loans modified in a TDR subsequently default, we evaluate the loan for possible further impairment. The allowance may be increased, adjustments may be made in the allocation of the allowance, partial charge-offs may be taken to further write-down the carrying value of the loan, or the loan may be charged-off completely. The following table provides a roll forward of troubled debt restructurings for the periods indicated: For the years ended December 31, 2015 2014 Number of contracts Amount Number of contracts Amount Beginning TDR balance: 248 $ 61,788 262 $ 79,166 New TDRs 26 8,537 46 9,460 Re-modified TDRs 3 6,386 11 3,672 Net paydowns (13,270 ) (15,825 ) Charge-offs: Residential mortgage loans — — — — Home equity loans 4 (159 ) 1 (130 ) Commercial real estate loans 4 (179 ) 10 (898 ) Commercial loans 2 (387 ) 10 (8,305 ) Paid-off loans: Residential mortgage loans 2 (109 ) — — Home equity loans 5 (194 ) 5 (103 ) Commercial real estate loans 15 (9,208 ) 10 (1,471 ) Commercial loans 14 (1,728 ) 24 (3,778 ) Transferred to real estate owned Commercial real estate loans 1 (362 ) — — Ending TDR balance: 227 $ 51,115 248 $ 61,788 Accruing TDRs $ 29,997 $ 37,329 Non-accrual TDRs 21,118 24,459 The following table provides information related to troubled debt restructurings (including re-modified TDRs) by portfolio segment and by class of financing receivable during the year ended December 31, 2015 : Number of contracts Recorded investment at the time of modification Current recorded investment Current allowance Troubled debt restructurings: Personal Banking: Residential mortgage loans 6 $ 364 357 21 Home equity loans 3 101 97 21 Other consumer loans — — — — Total Personal Banking 9 465 454 42 Business Banking: Commercial real estate loans 11 12,258 12,243 1,047 Commercial loans 9 2,200 2,184 156 Total Business Banking 20 14,458 14,427 1,203 Total 29 $ 14,923 14,881 1,245 At December 31, 2015, no TDRs that were modified in the previous twelve months had subsequently defaulted. The following table provides information related to troubled debt restructurings (including re-modified TDRs) by portfolio segment and by class of financing receivable during the year ended December 31, 2014 : Number of contracts Recorded investment at the time of modification Current recorded investment Current allowance Troubled debt restructurings: Personal Banking: Residential mortgage loans 17 $ 2,802 2,690 210 Home equity loans 6 570 507 1 Other consumer loans — — — — Total Personal Banking 23 3,372 3,197 211 Business Banking: Commercial real estate loans 11 2,010 1,793 202 Commercial loans 23 7,750 6,818 1,491 Total Business Banking 34 9,760 8,611 1,693 Total 57 $ 13,132 11,808 1,904 Number of contracts Recorded investment at the time of modification Current recorded investment Current allowance Troubled debt restructurings modified within the previous twelve months that have subsequently defaulted: Personal Banking: Residential mortgage loans 1 $ 78 77 — Home equity loans 1 360 331 1 Other consumer loans — — — — Total Personal Banking 2 438 408 1 Business Banking: Commercial real estate loans 1 12 5 1 Commercial loans 1 50 64 6 Total Business Banking 2 62 69 7 Total 4 $ 500 477 8 The following table provides information related to troubled debt restructurings (including re-modified TDRs) by portfolio segment and by class of financing receivable during the year ended December 31, 2013 : Number of contracts Recorded investment at the time of modification Current recorded investment Current allowance Troubled debt restructurings: Personal Banking: Residential mortgage loans 4 $ 374 319 50 Home equity loans 12 656 692 118 Other consumer loans — — — — Total Personal Banking 16 1,030 1,011 168 Business Banking: Commercial real estate loans 58 16,760 11,196 781 Commercial loans 47 13,321 12,754 162 Total Business Banking 105 30,081 23,950 943 Total 121 $ 31,111 24,961 1,111 Number of contracts Recorded investment at the time of modification Current recorded investment Current allowance Troubled debt restructurings modified within the previous twelve months that have subsequently defaulted: Personal Banking: Residential mortgage loans 1 $ 70 70 — Home equity loans — — — — Other consumer loans — — — — Total Personal Banking 1 70 70 — Business Banking: Commercial real estate loans 4 798 752 33 Commercial loans 1 23 8 1 Total Business Banking 5 821 760 34 Total 6 $ 891 830 34 The following table provides information for troubled debt restructurings (including re-modified TDRs) by type of modification, by portfolio segment and class of financing receivable during the year ended December 31, 2015 : Number of Type of modification contracts Rate Payment Maturity date Other Total Personal Banking: Residential mortgage loans 6 $ 71 — 110 176 357 Home equity loans 3 96 — 1 — 97 Other consumer loans — — — — — — Total Personal Banking 9 167 — 111 176 454 Business Banking: Commercial real estate loans 11 174 — 11,961 108 12,243 Commercial loans 9 — — 1,264 920 2,184 Total Business Banking 20 174 — 13,225 1,028 14,427 Total 29 $ 341 — 13,336 1,204 14,881 The following table provides information for troubled debt restructurings (including re-modified TDRs) by type of modification, by portfolio segment and class of financing receivable during the year ended December 31, 2014 : Number of Type of modification contracts Rate Payment Maturity date Other Total Personal Banking: Residential mortgage loans 17 $ — 108 2,582 — 2,690 Home equity loans 6 — 138 369 — 507 Other consumer loans — — — — — — Total Personal Banking 23 — 246 2,951 — 3,197 Business Banking: Commercial real estate loans 11 — — 1,312 481 1,793 Commercial loans 23 498 1,638 4,093 589 6,818 Total Business Banking 34 498 1,638 5,405 1,070 8,611 Total 57 $ 498 1,884 8,356 1,070 11,808 The following table provides information related to re-modified troubled debt restructurings by portfolio segment and by class of financing receivable for the year ended December 31, 2015 : Number of re- modified Type of re-modification TDRs Rate Payment Maturity date Other Total Personal Banking: Residential mortgage loans 1 $ — — — 45 45 Home equity loans 1 83 — — — 83 Other consumer loans — — — — — — Total Personal Banking 2 83 — — 45 128 Business Banking: Commercial real estate loans 1 — — 6,256 — 6,256 Commercial loans — — — — — — Total Business Banking 1 — — 6,256 — 6,256 Total 3 $ 83 — 6,256 45 6,384 The following table provides information related to re-modified troubled debt restructurings by portfolio segment and by class of financing receivable for the year ended December 31, 2014 : Number of re- modified Type of re-modification TDRs Rate Payment Maturity date Other Total Personal Banking: Residential mortgage loans 1 $ — — 76 — 76 Home equity loans — — — — — — Other consumer loans — — — — — — Total Personal Banking 1 — — 76 — 76 Business Banking: Commercial real estate loans 5 — — 119 115 234 Commercial loans 5 — — 3,230 55 3,285 Total Business Banking 10 — — 3,349 170 3,519 Total 11 $ — — 3,425 170 3,595 The following table provides information related to loan delinquencies as of December 31, 2015 : 30-59 days delinquent 60-89 days delinquent 90 days or greater delinquent Total delinquency Current Total loans 90 days or greater delinquent and accruing (1) Originated loans Personal Banking: Residential mortgage loans $ 25,503 7,541 15,564 48,608 2,646,568 2,695,176 — Home equity loans 4,870 1,836 5,251 11,957 1,043,950 1,055,907 — Other consumer loans 6,092 2,340 2,857 11,289 301,085 312,374 — Total Personal Banking 36,465 11,717 23,672 71,854 3,991,603 4,063,457 — Business Banking: Commercial real estate loans 22,212 6,875 14,942 44,029 1,891,128 1,935,157 — Commercial loans 1,703 598 2,449 4,750 356,658 361,408 — Total Business Banking 23,915 7,473 17,391 48,779 2,247,786 2,296,565 — Total originated loans 60,380 19,190 41,063 120,633 6,239,389 6,360,022 — Acquired loans Personal Banking: Residential mortgage loans 440 249 786 1,475 44,241 45,716 540 Home equity loans 936 642 861 2,439 128,760 131,199 462 Other consumer loans 1,009 181 69 1,259 206,656 207,915 26 Total Personal Banking 2,385 1,072 1,716 5,173 379,657 384,830 1,028 Business Banking: Commercial real estate loans 2,665 1,353 4,089 8,107 408,170 416,277 2,582 Commercial loans 1,165 — 150 1,315 59,677 60,992 140 Total Business Banking 3,830 1,353 4,239 9,422 467,847 477,269 2,722 Total acquired loans 6,215 2,425 5,955 14,595 847,504 862,099 3,750 Total loans $ 66,595 21,615 47,018 135,228 7,086,893 7,222,121 3,750 (1) Represents acquired loans that were originally recorded at fair value upon acquisition. These loans are considered to be accruing because we can reasonably estimate future cash flows on and expect to fully collect the carrying value of these loans. Therefore, we are accreting the difference between the carrying value and their expected cash flows into interest income. The following table provides information related to loan delinquencies as of December 31, 2014 : 30-59 days delinquent 60-89 days delinquent 90 days or greater delinquent Total delinquency Current Total loans Personal Banking: Residential mortgage loans $ 27,443 6,970 17,696 52,109 2,469,347 2,521,456 Home equity loans 5,752 1,672 6,606 14,030 1,052,101 1,066,131 Other consumer loans 5,572 2,435 2,450 10,457 232,287 242,744 Total Personal Banking 38,767 11,077 26,752 76,596 3,753,735 3,830,331 Business Banking: Commercial real estate loans 4,956 2,038 11,099 18,093 1,783,091 1,801,184 Commercial loans 2,262 209 3,475 5,946 352,430 358,376 Total Business Banking 7,218 2,247 14,574 24,039 2,135,521 2,159,560 Total loans $ 45,985 13,324 41,326 100,635 5,889,256 5,989,891 Credit quality indicators: We categorize loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. We analyze business loans individually by classifying the loans by credit risk. Credit relationships greater than or equal to $1.0 million classified as special mention or substandard are reviewed quarterly for further deterioration or improvement to determine if the loan is appropriately classified. We use the following definitions for risk ratings other than pass: Special mention — Loans designated as special mention have specific, well-defined risk issues, which create a high level of uncertainty regarding the long-term viability of the business. Loans in this class are considered to have high-risk characteristics. A special mention loan exhibits material negative financial trends due to company-specific or systemic conditions. If these potential weaknesses are not mitigated, they threaten the borrower’s capacity to meet its debt obligations. Special mention loans still demonstrate sufficient financial flexibility to react to and positively address the root cause of the adverse financial trends without significant deviations from their current business strategy. Their potential weaknesses deserve our close attention and warrant enhanced monitoring. Substandard — Loans classified as substandard are inadequately protected by the current net worth and payment capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that we will sustain some loss if the deficiencies are not corrected. Doubtful — Loans classified as doubtful have all the weaknesses inherent in those classified as substandard. In addition, those weaknesses make collection or liquidation in full highly questionable and improbable. A loan classified as doubtful exhibits discernible loss potential, but a complete loss seems very unlikely. The possibility of a loss on a doubtful loan is high, but because of certain important and reasonably specific pending factors that may strengthen the loan, its classification as an estimated loss is deferred until a more exact status can be determined. Loss — Loans classified as loss are considered uncollectible and of such value that the continuance as a loan is not warranted. A loss classification does not mean that the loan has no recovery or salvage value; instead, it means that it is not practical or desirable to defer writing off all or a portion of a basically worthless loan even though partial recovery may be affected in the future. The following table sets forth information about credit quality indicators as of December 31, 2015 : Pass Special mention Substandard Doubtful Loss Total Originated loans Personal Banking: Residential mortgage loans $ 2,680,562 — 13,274 — 1,340 2,695,176 Home equity loans 1,048,397 — 7,510 — — 1,055,907 Other consumer loans 309,900 — 2,474 — — 312,374 Total Personal Banking 4,038,859 — 23,258 — 1,340 4,063,457 Business Banking: Commercial real estate loans 1,778,140 46,518 110,384 115 — 1,935,157 Commercial loans 299,455 23,023 37,820 1,110 — 361,408 Total Business Banking 2,077,595 69,541 148,204 1,225 — 2,296,565 Total originated loans 6,116,454 69,541 171,462 1,225 1,340 6,360,022 Acquired loans Personal Banking: Residential mortgage loans 44,930 — 786 — — 45,716 Home equity loans 130,338 — 861 — — 131,199 Other consumer loans 207,846 — 69 — — 207,915 Total Personal Banking 383,114 — 1,716 — — 384,830 Business Banking: Commercial real estate loans 392,811 6,872 16,594 — — 416,277 Commercial loans 59,948 707 337 — — 60,992 Total Business Banking 452,759 7,579 16,931 — — 477,269 Total acquired loans 835,873 7,579 18,647 — — 862,099 Total loans $ 6,952,327 77,120 190,109 1,225 1,340 7,222,121 The following table sets forth information about credit quality indicators as of December 31, 2014 : Pass Special mention Substandard Doubtful Loss Total Personal Banking: Residential mortgage loans $ 2,507,269 — 12,763 — 1,424 2,521,456 Home equity loans 1,059,525 — 6,606 — — 1,066,131 Other consumer loans 240,947 — 1,797 — — 242,744 Total Personal Banking 3,807,741 — 21,166 — 1,424 3,830,331 Business Banking: Commercial real estate loans 1,618,269 36,908 145,502 505 — 1,801,184 Commercial loans 286,234 23,690 46,280 2,172 — 358,376 Total Business Banking 1,904,503 60,598 191,782 2,677 — 2,159,560 Total loans $ 5,712,244 60,598 212,948 2,677 1,424 5,989,891 Our exposure to credit loss in the event of nonperformance by the other party to off-balance-sheet financial instruments is represented by the contract amount of the financial instrument. We use the same credit policies in making commitments for off-balance-sheet financial instruments as we do for on-balance-sheet instruments. Financial instruments with off-balance-sheet risk as of December 31, 2015 and 2014 are presented in the following table: December 31, 2015 2014 Loan commitments $ 186,731 186,637 Undisbursed lines of credit 562,284 428,649 Standby letters of credit 32,719 23,564 Total $ 781,734 638,850 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. We evaluate each customer’s creditworthiness on a case-by-case basis. The amount of collateral we obtain upon extension of credit is based on management’s credit evaluation of the counterparty. Collateral held varies but generally may include cash, marketable securities, real estate and other property. Outstanding loan commitments at December 31, 2015 , for fixed rate loans, were $81.8 million . The interest rates on these commitments approximate market rates at December 31, 2015 . Outstanding loan commitments at December 31, 2015 for adjustable rate loans were $104.9 million . The fair values of these commitments are affected by fluctuations in market rates of interest. We issue standby letters of credit in the norma |