The following tables present loans by class modified in 2013 as troubled debt restructurings.
Troubled Debt Restructuring
| December 31, 2013 | Twelve months ended | |||||||||||||||||||
| Defaulted TDRs4 | ||||||||||||||||||||
| (in thousands) | Number of Loans | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | Number of Loans | Post-Modification Outstanding Recorded Investment | |||||||||||||||
| Commercial and industrial | ||||||||||||||||||||
| Commercial and industrial other1 | 4 | $ | 878 | $ | 878 | 1 | $ | 645 | ||||||||||||
| Commercial real estate | ||||||||||||||||||||
| Commercial real estate other2 | 13 | $ | 1,837 | $ | 1,837 | 1 | $ | 140 | ||||||||||||
| Residential real estate | ||||||||||||||||||||
| Mortgages3 | 1 | $ | 195 | $ | 195 | 1 | $ | 195 | ||||||||||||
| Total | 18 | $ | 2,910 | $ | 2,910 | $ | 3 | $ | 980 | |||||||||||
| 1 | Represents the following concessions: extension of term and reduction in rate (3 loans: $808,000) extension of term (1 loan: $70,000) |
| 2 | Represents the following concessions: extension of term and reduction of rate (11 loans: $1.9 million ) extension of term (1 loan: $129,000) |
| 3 | Represents the following concessions: extension of term and reduction of rate |
| 4 | TDRs that defaulted during the last 12 months that were restructured in the prior twelve months |
| December 31, 2012 | Twelve months ended | |||||||||||||||||||
| Defaulted TDRs5 | ||||||||||||||||||||
| (in thousands) | Number of Loans | Pre-Modification Outstanding Recorded Investment | Post-Modification Outstanding Recorded Investment | Number of Loans | Post-Modification Outstanding Recorded Investment | |||||||||||||||
| Commercial and industrial | ||||||||||||||||||||
| Commercial and industrial other1 | 4 | $ | 4,194 | $ | 4,194 | 0 | $ | 0 | ||||||||||||
| Commercial real estate | ||||||||||||||||||||
| Construction2 | 1 | $ | 3,475 | $ | 3,475 | 1 | $ | 3,475 | ||||||||||||
| Commercial real estate other3 | 2 | $ | 3,309 | $ | 3,309 | 1 | $ | 1,458 | ||||||||||||
| Residential real estate | ||||||||||||||||||||
| Mortgages4 | 3 | $ | 302 | $ | 302 | 2 | $ | 208 | ||||||||||||
| Total | 10 | $ | 11,280 | $ | 11,280 | $ | 4 | $ | 5,141 | |||||||||||
| 1 | Represents the following concessions: payment reduction (2 loans: $12,000) extension of term (2 loans: $4.2 million) |
| 2 | Represents the following concessions: interest rate reduction |
| 3 | Represents the following concessions: interest rate reduction (1 loan: $1.5 million) and payment reduction (1 loan: $1.9 million) |
| 4 | Represents the following concessions: extension of term (2 loans: $239,000) and extension of term and lower rate (1 loan: $62,000) |
| 5 | TDRs that defaulted during the last 12 months that were restructured in the prior twelve months |