Navy Federal Credit Union 2015 Annual Report Download - page 41

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Navy Federal Credit Union22
(dollars in thousands) December 31, 2014
Allowance for credit losses: Consumer Credit Cards Real Estate Other Total
Balance, beginning of year $ 237,358 $ 251,447 $ 150,185 $ 249 $ 639,239
Provision expense 315,347 340,601 12,580 (249) 668,279
Loans charged o (298,997) (270,096) (48,816) — (617,909)
Recoveries 44,002 17,795 5,911 — 67,708
Net change in allowance for
unfunded commitments (78) (4,404) — — (4,482)
Balance, end of year $ 297,632 $ 335,343 $ 119,860 $ — $ 752,835
Ending balance: loans
individually evaluated for
impairment
$ 56,454 $ 68,674 $ 82,582 $ — $ 207,710
Ending balance: loans
collectively evaluated for
impairment
$ 231,572 $ 266,669 $ 26,479 $ — $ 524,720
Ending balance: loans
acquired with deteriorated
credit quality
$ 9,606 $ — $ 10,799 $ — $ 20,405
Loan amount (excluding allowance):
Ending balance: loans
individually evaluated for
impairment
$ 404,495 $ 259,620 $ 705,482 $ — $ 1,369,597
Ending balance: loans
collectively evaluated for
impairment
$ 13,703,166 $ 9,248,205 $ 21,847,973 $ — $ 44,799,344
Ending balance: loans
acquired with deteriorated
credit quality
$ 4,398 $ — $ 41,231 $ — $ 45,629
The net change in the allowance for unfunded commitments was as follows:
(dollars in thousands) 2015 2014
Balance, beginning of period $ 16,903 $ 12,421
Net change in allowance for unfunded commitments 4,591 4,482
Balance, end of period $ 21,494 $ 16,903
Non-performing Loans
When payments of principal or interest are past due by more than 90 days, Navy Federal
discontinues the accrual of interest on those loans and reverses the previously recognized
interest. Interest income is recorded on cash basis until the loan returns to accrual status. Loans
are returned to accrual status when all the principal and interest amounts contractually due are
brought current. The UPB of loans on non-accrual status by portfolio type as of December 31,
2015 and 2014 were as follows: