Loans (Tables)

9 Months Ended

Sep. 30, 2022

Loans and Leases Receivable Disclosure [Abstract]

Summary of Loan Portfolio

The following table shows the Company’s loan portfolio by category as of the dates shown:

	September 30,			December 31,			September 30,
(Dollars in thousands)	2022			2021			2021
Balance:
Commercial	$	12,259,250		$	11,904,068		$	11,187,972
Commercial real estate	9,578,184			8,990,286			8,885,714
Home equity	328,822			335,155			347,662
Residential real estate	2,235,459			1,637,099			1,547,736
Premium finance receivables
Property and casualty insurance	5,713,340			4,855,487			4,616,977
Life insurance	8,004,856			7,042,810			6,655,453
Consumer and other	47,702			24,199			22,529
Total loans, net of unearned income	$	38,167,613		$	34,789,104		$	33,264,043
Mix:
Commercial	32		%	34		%	33		%
Commercial real estate	25			26			27
Home equity	1			1			1
Residential real estate	6			5			5
Premium finance receivables
Property and casualty insurance	15			14			14
Life insurance	21			20			20
Consumer and other	0			0			0
Total loans, net of unearned income	100		%	100		%	100		%

Schedule of Loans Acquired

The following table provides estimated details as of the date of acquisition on PCD loans acquired in 2021:

(In thousands)	Insurance Agency Loan Portfolio
Contractually required payments (unpaid principal balance)	$	13,882
Allowance for credit losses (1)	(2,806)
Discount, net of any premium	(214)
Purchase price of PCD loans acquired	$	10,862

(1)The initial allowance for credit losses on PCD loans acquired during 2021 measured approximately $2.8 million, of which $2.3 million was charged off related to PCD loans that met the Company’s charge-off policy at the time of acquisition. After considering these loans that were immediately charged off, the net impact of PCD allowance for credit losses at the acquisition date was approximately $470,000.