Table of Contents The following table shows the coronavirus loan and lease modification balances. Modification terms generally ranged between three and six months depending on industry. First Modification Second Modification Three or More Modifications (Dollars in millions) Expired In Deferment Total Expired In Deferment Total Expired In Deferment Total Auto and light truck rental $ 273  $ 1  $ 274  $ 78  $ 4  $ 82  $ 20  $ 1  $ 21  Specialty vehicle 89  —  89  74  2  76  44  39  83  Medium and heavy duty truck 89  —  89  5  —  5  —  —  —  Aircraft 97  —  97  17  13  30  —  —  —  Construction 144  7  151  9  —  9  1  —  1  Commercial 208  45  253  22  49  71  8  7  15  Residential real estate and home equity 7  —  7  —  —  —  —  —  —  Consumer 9  —  9  —  —  —  —  —  —  Total loans and leases $ 916  $ 53  $ 969  $ 205  $ 68  $ 273  $ 73  $ 47  $ 120  (1) (1) (2) (1) Includes modifications which ended deferment during December 2020 and are in the process of receiving or expected to receive an extension. (2) Includes buses, step vans and funeral cars. As part of the CARES Act, approved by the President on March 27, 2020 and extended on July 4, 2020, the Small Business Administration (SBA) was authorized to guarantee loans under the PPP through August 8, 2020 for businesses who met the necessary eligibility requirements in order to keep their workers on the payroll. We began accepting applications on April 3, 2020 and disbursed the final PPP loan on August 25, 2020. PPP loans are fully guaranteed by the SBA and as such do not represent a credit risk. The following table shows PPP loan disbursements as of December 31, 2020. As of December 31, 2020, PPP loan balances were $351.56 million which is net of an unearned discount of $6.37 million and located within the commercial and agricultural portfolio. At December 31, 2020, specialty finance customers had $78.35 million of PPP loans and traditional commercial banking customers had $273.21 million of PPP loans. On October 8, 2020, the SBA announced a streamlined loan forgiveness application for loans $50,000 or less. Of the 3,540 PPP loans we originated, 1,972 loans were for $50,000 or less. As of December 31, 2020, we had helped our clients secure forgiveness for $236.25 million and had submitted loan forgiveness requests to the SBA for over 60% of the total PPP loans amounts we funded during 2020. On April 9, 2020, the FDIC, Federal Reserve and OCC created the Paycheck Protection Program Liquidity Facility (PPPLF) to bolster the effectiveness of the PPP by providing liquidity to and neutralizing the regulatory capital effects on participating financial institutions. As of December 31, 2020, we had not utilized the PPPLF. Our MSRs have experienced a decrease in their fair value as of December 31, 2020 resulting in year-to-date impairment charges of $0.81 million due to lower mortgage rates leading to faster prepayment speeds. We will continue to evaluate MSRs at each reporting date to determine whether further valuation allowances are appropriate. We evaluate goodwill for impairment during the fourth quarter of each year, with financial data as of September 30. Based on the analysis performed as of October 1, 2019, we determined that goodwill for our reporting units was not impaired. During the first quarter of 2020, management determined that the deterioration in general economic conditions as a result of the COVID-19 pandemic and responses thereto represented a triggering event prompting an evaluation of goodwill impairment. Based on the analyses performed during the first, second, third, and fourth quarters of 2020, we determined that goodwill was not impaired. At this time, we do not believe there exists any impairment to our intangible assets, long-lived assets, right of use assets, or available-for-sale investment securities due to the COVID-19 pandemic. It is uncertain whether prolonged effects of the COVID-19 pandemic will result in future impairment charges related to any of the aforementioned assets. 22 Paycheck Protection Program (PPP) and Liquidity Asset impairment Number of Loans $ of Loans (000's) Average Loan Size Phase One 2,024  $ 520,583  $ 257,000  Phase Two 1,516  76,868  51,000  Total 3,540  $ 597,451  $ 169,000 