Loans Receivable

6 Months Ended

Jun. 30, 2024

Receivables [Abstract]

Loans Receivable

Loans Receivable

The following table shows a summary of our loans receivable at amortized cost basis at June 30, 2024 and December 31, 2023 (in thousands): 

	June 30, 2024				December 31, 2023
	Originated (1)		Acquired (2)	Total	Originated (1)	Acquired (2)	Total
Personal Banking:
Residential mortgage loans (3)	$	3,189,086	134,982	3,324,068	3,283,299	144,886	3,428,185
Home equity loans	1,069,569		110,917	1,180,486	1,103,410	124,448	1,227,858
Vehicle loans	1,905,878		55,050	1,960,928	1,943,540	65,061	2,008,601
Consumer loans	113,860		5,270	119,130	111,446	5,980	117,426
Total Personal Banking	6,278,393		306,219	6,584,612	6,441,695	340,375	6,782,070
Commercial Banking:
Commercial real estate loans (4)	2,445,069		219,947	2,665,016	2,389,537	238,920	2,628,457
Commercial real estate loans - owner occupied	338,014		24,608	362,622	319,195	26,358	345,553
Commercial loans	1,712,839		29,275	1,742,114	1,623,481	35,248	1,658,729
Total Commercial Banking	4,495,922		273,830	4,769,752	4,332,213	300,526	4,632,739
Total loans receivable, gross	10,774,315		580,049	11,354,364	10,773,908	640,901	11,414,809
Allowance for credit losses	(119,575)		(5,495)	(125,070)	(118,079)	(7,164)	(125,243)
Total loans receivable, net (5)	$	10,654,740	574,554	11,229,294	10,655,829	633,737	11,289,566

(1) Includes originated and loan pools purchased in an asset acquisition.

(2) Includes loans subject to purchase accounting in a business combination.

(3) Includes $9 million of loans held-for-sale at June 30, 2024 and December 31, 2023.

(4) Includes $681,000 and $0 of loans held-for-sale at June 30, 2024 and December 31, 2023, respectively.

(5) Includes $65 million and $68 million of net unearned income, unamortized premiums and discounts and deferred fees and costs at June 30, 2024 and December 31, 2023.

The following table provides information related to the allowance for credit losses by portfolio segment and by class of financing receivable for the quarter ended June 30, 2024 (in thousands):

	Balance as of June 30, 2024		Current period provision	Charge-offs	Recoveries	Balance as of March 31, 2024
Allowance for Credit Losses
Personal Banking:
Residential mortgage loans	$	14,999	(2,375)	(252)	805	16,821
Home equity loans	5,210		(279)	(237)	392	5,334
Vehicle loans	21,364		1,767	(1,926)	462	21,061
Consumer loans	1,668		434	(635)	417	1,452
Total Personal Banking	43,241		(453)	(3,050)	2,076	44,668
Commercial Banking:
Commercial real estate loans	50,559		(3,785)	(500)	370	54,474
Commercial real estate loans - owner occupied	3,615		(453)	—	13	4,055
Commercial loans	27,655		6,860	(1,319)	414	21,700
Total Commercial Banking	81,829		2,622	(1,819)	797	80,229
Total	$	125,070	2,169	(4,869)	2,873	124,897
Allowance for Credit Losses - off-balance sheet exposure
Personal Banking:
Residential mortgage loans	$	1	—	—	—	1
Home equity loans	63		(1)	—	—	64
Total Personal Banking	64		(1)	—	—	65
Commercial Banking:
Commercial real estate loans	4,450		(1,768)	—	—	6,218
Commercial real estate loans - owner occupied	151		(3)	—	—	154
Commercial loans	9,120		(767)	—	—	9,887
Total Commercial Banking	13,721		(2,538)	—	—	16,259
Total off-balance sheet exposure	$	13,785	(2,539)	—	—	16,324

The following table provides information related to the allowance for credit losses by portfolio segment and by class of financing receivable for the quarter ended June 30, 2023 (in thousands):

	Balance as of June 30, 2023		Current period provision	Charge-offs	Recoveries	Balance as of March 31, 2023
Allowance for Credit Losses
Personal Banking:
Residential mortgage loans	$	17,556	(1,676)	(545)	539	19,238
Home equity loans	5,002		(456)	(235)	212	5,481
Vehicle loans	27,283		2,030	(1,539)	626	26,166
Consumer loans	1,010		1,231	(1,233)	280	732
Total Personal Banking	50,851		1,129	(3,552)	1,657	51,617
Commercial Banking:
Commercial real estate loans	50,056		4,576	(415)	491	45,404
Commercial real estate loans - owner occupied	3,498		189	(68)	26	3,351
Commercial loans	20,018		116	(1,209)	226	20,885
Total Commercial Banking	73,572		4,881	(1,692)	743	69,640
Total	$	124,423	6,010	(5,244)	2,400	121,257
Allowance for Credit Losses - off-balance sheet exposure
Personal Banking:
Residential mortgage loans	$	4	1	—	—	3
Home equity loans	64		4	—	—	60
Total Personal Banking	68		5	—	—	63
Commercial Banking:
Commercial real estate loans	7,655		1,731	—	—	5,924
Commercial real estate loans - owner occupied	320		(121)	—	—	441
Commercial loans	7,916		1,305	—	—	6,611
Total Commercial Banking	15,891		2,915	—	—	12,976
Total off-balance sheet exposure	$	15,959	2,920	—	—	13,039

The following table provides information related to the allowance for credit losses by portfolio segment and by class of financing receivable for the six months ended June 30, 2024 (in thousands):

	Balance June 30, 2024		Current period provision	Charge-offs	Recoveries	Balance December 31, 2023
Allowance for Credit Losses
Personal Banking:
Residential mortgage loans	$	14,999	(3,774)	(414)	994	18,193
Home equity loans	5,210		(134)	(649)	590	5,403
Vehicle loans	21,364		(1,927)	(4,514)	894	26,911
Consumer loans	1,668		2,283	(2,620)	806	1,199
Total Personal Banking	43,241		(3,552)	(8,197)	3,284	51,706
Commercial Banking:
Commercial real estate loans	50,559		(712)	(849)	853	51,267
Commercial real estate loans - owner occupied	3,615		(181)	—	21	3,775
Commercial loans	27,655		10,848	(2,482)	794	18,495
Total Commercial Banking	81,829		9,955	(3,331)	1,668	73,537
Total	$	125,070	6,403	(11,528)	4,952	125,243
Allowance for Credit Losses - off-balance sheet exposure
Personal Banking:
Residential mortgage loans	$	1	(1)	—	—	2
Home equity loans	63		(2)	—	—	65
Total Personal Banking	64		(3)	—	—	67
Commercial Banking:
Commercial real estate loans	4,450		(1,697)	—	—	6,147
Commercial real estate loans - owner occupied	151		(22)	—	—	173
Commercial loans	9,120		(1,616)	—	—	10,736
Total Commercial Banking	13,721		(3,335)	—	—	17,056
Total off-balance sheet exposure	$	13,785	(3,338)	—	—	17,123

The following table provides information related to the allowance for credit losses by portfolio segment and by class of financing receivable for the six months ended June 30, 2023 (in thousands):

	Balance June 30, 2023		Current period provision	Charge-offs	Recoveries	ASU 2022-02 Adoption	Balance December 31, 2022
Allowance for Credit Losses
Personal Banking:
Residential mortgage loans	$	17,556	(1,677)	(752)	724	—	19,261
Home equity loans	5,002		(906)	(399)	405	—	5,902
Vehicle loans	27,283		6,283	(3,207)	1,148	—	23,059
Consumer loans	1,010		2,027	(2,299)	617	—	665
Total Personal Banking	50,851		5,727	(6,657)	2,894	—	48,887
Commercial Banking:
Commercial real estate loans	50,056		4,697	(1,072)	1,499	426	44,506
Commercial real estate loans - owner occupied	3,498		(485)	(68)	47	—	4,004
Commercial loans	20,018		941	(2,074)	512	—	20,639
Total Commercial Banking	73,572		5,153	(3,214)	2,058	426	69,149
Total	$	124,423	10,880	(9,871)	4,952	426	118,036
Allowance for Credit Losses - off-balance sheet exposure
Personal Banking:
Residential mortgage loans	$	4	—	—	—	—	4
Home equity loans	64		(10)	—	—	—	74
Total Personal Banking	68		(10)	—	—	—	78
Commercial Banking:
Commercial real estate loans	7,655		2,280	—	—	—	5,375
Commercial real estate loans - owner occupied	320		(59)	—	—	—	379
Commercial loans	7,916		835	—	—	—	7,081
Total Commercial Banking	15,891		3,056	—	—	—	12,835
Total off-balance sheet exposure	$	15,959	3,046	—	—	—	12,913

The following table provides information related to the loan portfolio by portfolio segment and by class of financing receivable at June 30, 2024 (in thousands):

	Total loans receivable		Allowance for credit losses	Nonaccrual loans	Loans 90 days past due and accruing
Personal Banking:
Residential mortgage loans	$	3,324,068	14,999	6,403	1,390
Home equity loans	1,180,486		5,210	4,055	34
Vehicle loans	1,960,928		21,364	4,342	8
Consumer loans	119,130		1,668	267	570
Total Personal Banking	6,584,612		43,241	15,067	2,002
Commercial Banking:
Commercial real estate loans	2,665,016		50,559	73,989	185
Commercial real estate loans - owner occupied	362,622		3,615	983	—
Commercial loans	1,742,114		27,655	12,120	324
Total Commercial Banking	4,769,752		81,829	87,092	509
Total	$	11,354,364	125,070	102,159	2,511

The following table provides information related to the loan portfolio by portfolio segment and by class of financing receivable at December 31, 2023 (in thousands): 

	Total loans receivable		Allowance for credit losses	Nonaccrual loans	Loans 90 days past due and accruing
Personal Banking:
Residential mortgage loans	$	3,428,185	18,193	8,727	1,671
Home equity loans	1,227,858		5,403	4,492	26
Vehicle loans	2,008,601		26,911	4,816	44
Consumer loans	117,426		1,199	229	722
Total Personal Banking	6,782,070		51,706	18,264	2,463
Commercial Banking:
Commercial real estate loans	2,628,457		51,267	71,297	225
Commercial real estate loans - owner occupied	345,553		3,775	676	—
Commercial loans	1,658,729		18,495	4,147	10
Total Commercial Banking	4,632,739		73,537	76,120	235
Total	$	11,414,809	125,243	94,384	2,698

We present the amortized cost of our loans on nonaccrual status including such loans with no allowance. The following table presents the amortized cost of our loans on nonaccrual status as of the beginning and end of the period ended June 30, 2024 (in thousands): 

			June 30, 2024
	Nonaccrual loans at January 1, 2024		Nonaccrual loans with an allowance	Nonaccrual loans with no allowance	Total nonaccrual loans at the end of the period	Loans 90 days past due and accruing
Personal Banking:
Residential mortgage loans	$	8,727	5,803	600	6,403	1,390
Home equity loans	4,492		3,907	148	4,055	34
Vehicle loans	4,816		3,585	757	4,342	8
Consumer loans	229		257	10	267	570
Total Personal Banking	18,264		13,552	1,515	15,067	2,002
Commercial Banking:
Commercial real estate loans	71,297		52,491	21,498	73,989	185
Commercial real estate loans - owner occupied	676		983	—	983	—
Commercial loans	4,147		11,944	176	12,120	324
Total Commercial Banking	76,120		65,418	21,674	87,092	509
Total	$	94,384	78,970	23,189	102,159	2,511

During the three and six months ended June 30, 2024, we did not recognize any interest income on nonaccrual loans.

The following table presents the amortized cost of our loans on nonaccrual status as of the beginning and end of the year ended December 31, 2023 (in thousands): 

			December 31, 2023
	Nonaccrual loans at January 1, 2023		Nonaccrual loans with an allowance	Nonaccrual loans with no allowance	Total nonaccrual loans at the end of the period	Loans 90 days past due and accruing
Personal Banking:
Residential mortgage loans	$	7,574	8,304	423	8,727	1,671
Home equity loans	4,145		4,084	408	4,492	26
Vehicle loans	3,771		4,187	629	4,816	44
Consumer loans	256		229	—	229	722
Total Personal Banking	15,746		16,804	1,460	18,264	2,463
Commercial Banking:
Commercial real estate loans	62,239		47,359	23,938	71,297	225
Commercial real estate loans - owner occupied	624		676	—	676	—
Commercial loans	2,627		3,996	151	4,147	10
Total Commercial Banking	65,490		52,031	24,089	76,120	235
Total	$	81,236	68,835	25,549	94,384	2,698

During the year ended December 31, 2023, we did not recognize any interest income on nonaccrual loans.

A loan is considered to be collateral dependent when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the sale or operation of the collateral. The following table presents the amortized cost basis of collateral-dependent loans by class of loans and collateral type as of as of June 30, 2024 (in thousands):

	Real estate		Equipment	Total
Commercial Banking:
Commercial real estate loans	67,688		1,485	69,173
Commercial loans	3,019		5,062	8,081
Total Commercial Banking	70,707		6,547	77,254
Total	$	70,707	6,547	77,254

The following table presents the amortized cost basis of collateral-dependent loans by class of loans as of December 31, 2023 (in thousands):

	Real estate		Total
Commercial Banking:
Commercial real estate loans	$	66,934	66,934
Commercial loans	150		150
Total Commercial Banking	67,084		67,084
Total	$	67,084	67,084

Occasionally, the Company modifies loans to borrowers in financial distress by providing principal forgiveness, term extensions, an other-than-insignificant payment delay, or interest rate reduction. When principal forgiveness is provided, the amount of forgiveness is charged off against the allowance for credit losses.

In some cases, the Company provides multiple types of concessions to one loan. Typically, one type of concession, such as a term extension, is granted initially. If the borrower continues to experience financial difficulty, another concession, such as principal forgiveness, may be granted. For loans included in the "combination" columns below, multiple types of modifications have been made on the same loan within the current reporting period. The combination is at least two of the following: a term extension, principal forgiveness, an other-than-insignificant payment delay, and/or an interest rate reduction.

The following table presents the amortized cost basis of loans for the periods indicated that were both experiencing financial difficulty and modified during the respective period, by class and by type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financial receivable is also presented below (dollars in thousands).

	For the quarter ended June 30,
	2024					2023
	Term extension		Interest rate reduction	Total class of financing receivable		Term extension	Total class of financing receivable
Personal Banking:
Residential mortgage loans	$	15	—	0.00	%	82	0.00	%
Home equity loans	42		—	0.00	%	118	0.01	%
Total Personal Banking	57		—	0.00	%	200	0.00	%
Commercial Banking:
Commercial real estate loans - owner occupied	—		697	0.19	%	—	—	%
Total Commercial Banking	—		697	0.01	%	—	—	%
Total	$	57	697	0.01	%	200	0.00	%

	For the six months ended June 30,
	2024							2023
	Payment delay		Term extension	Interest rate reduction	Combination term extension and interest rate reduction	Total class of financing receivable		Term extension	Combination term extension and interest rate reduction	Total class of financing receivable
Personal Banking:
Residential mortgage loans	$	—	497	—	—	0.01	%	262	—	0.01	%
Home equity loans	—		551	—	84	0.05	%	166	—	0.01	%
Consumer loans	—		—	—	2	—	%	—	3	—	%
Total Personal Banking	—		1,048	—	86	0.02	%	428	3	0.01	%
Commercial Banking:
Commercial real estate loans	29,764		210	—	—	1.12	%	220	—	0.01	%
Commercial real estate loans - owner occupied	—		—	697	—	0.19	%	—	—	—	%
Commercial loans	—		31	—	9	—	%	660	—	0.05	%
Total Commercial Banking	29,764		241	697	9	0.64	%	880	—	0.02	%
Total	$	29,764	1,289	697	95	0.28	%	1,308	3	0.01	%

As of June 30, 2024 and June 30, 2023, the Company has committed to lend additional amounts totaling $41,000 and $31,000, respectively, to the borrowers experiencing financial difficulty for which the terms of the loan have been modified.

The following table presents the effect of the loan modifications presented above to borrowers experiencing financial difficulty for the periods indicated:

	For the quarter ended June 30,
	2024			2023
	Weighted-average interest rate reduction		Weighted-average term extension in months	Weighted-average term extension in months
Personal Banking:
Residential mortgage loans	—	%	220	100
Home equity loans	—	%	73	42
Consumer loans	—	%	0	9
Total Personal Banking	—	%	112	66
Commercial Banking:
Commercial real estate loans - owner occupied	2	%	0	0
Total Commercial Banking	2	%	0	0
Total loans	2	%	0	66

	For the six months ended June 30,
	2024				2023
	Weighted-average interest rate reduction		Weighted-average term extension in months	Weighted-average payment deferral in years	Weighted-average interest rate reduction		Weighted-average term extension in months
Personal Banking:
Residential mortgage loans	—	%	145	0	—	%	132
Home equity loans	2	%	97	0	—	%	73
Consumer loans	12	%	356	0	12	%	319
Total Personal Banking	2	%	119	0	12	%	111
Commercial Banking:
Commercial real estate loans	—	%	117	1	—	%	25
Commercial real estate loans - owner occupied	2	%	0	0	—	%	0
Commercial loans	4	%	118	0	—	%	9
Total Commercial Banking	2	%	117	1	—	%	13
Total loans	2	%	118	1	12	%	45

The Company closely monitors the performance of loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table presents the performance of loans modified within the previous twelve months of June 30, 2024 (in thousands):

	Current		30-59 days delinquent	60-89 days delinquent	90 days or greater delinquent
Personal Banking:
Residential mortgage loans	$	492	—	—	5
Home equity loans	533		90	12	—
Consumer loans	2		—	—	—
Total Personal Banking	1,027		90	12	5
Commercial Banking:
Commercial real estate loans	29,974		—	—	—
Commercial real estate loans - owner occupied	697		—	—	—
Commercial loans	10		5	—	25
Total Commercial Banking	30,681		5	—	25
Total loans	$	31,708	95	12	30

The following table presents the performance of loans modified since the adoption of ASU 2022-02 as of June 30, 2023 (in thousands):

	Current		30-59 days delinquent	60-89 days delinquent	90 days or greater delinquent
Personal Banking:
Residential mortgage loans	$	262	—	—	—
Home equity loans	166		—	—	—
Consumer loans	3		—	—	—
Total Personal Banking	431		—	—	—
Commercial Banking:
Commercial real estate loans	81		139	—	—
Commercial loans	—		660	—	—
Total Commercial Banking	81		799	—	—
Total loans	$	512	799	—	—

A modification is considered to be in default when the loan is 90 days or more past due. The following table provides the amortized cost basis of financing receivables that had a payment default during the period ended June 30, 2024 and were modified within the previous twelve months to borrowers experiencing financial difficulty (in thousands):

	Term extension
Personal Banking:
Residential mortgage loans	$	5
Total Personal Banking	5
Commercial Banking:
Commercial loans	25
Total Commercial Banking	25
Total	$	30

No loans modified since the adoption of ASU 2022-02 subsequently defaulted during the quarter ended June 30, 2023.

The modifications to borrowers experiencing financial distress are included in their respective portfolio segment and the current loan balance and updated loan terms are run through their respective ACL models to arrive at the quantitative portion of the ACL. Subsequent performance of the loans will be measured by delinquency status and will be captured through our ACL models or our qualitative factor assessment, as deemed appropriate. If we no longer believe the loan demonstrates similar risks to their respective portfolio segment an individual assessment will be performed. Upon the Company's determination that a modified loan (or portion of a loan) has subsequently been deemed uncollectible, the loan (or a portion of the loan) is written off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the allowance for credit losses is adjusted by the same amount.

The following table provides information related to the amortized cost basis of loan payment delinquencies at June 30, 2024 (in thousands):

	30-59 days delinquent		60-89 days delinquent	90 days or greater delinquent	Total delinquency	Current	Total loans receivable	90 days or greater delinquent and accruing
Personal Banking:
Residential mortgage loans	$	616	8,223	5,553	14,392	3,309,676	3,324,068	1,390
Home equity loans	3,771		1,065	2,506	7,342	1,173,144	1,180,486	34
Vehicle loans	9,759		2,774	2,191	14,724	1,946,204	1,960,928	8
Consumer loans	613		424	821	1,858	117,272	119,130	570
Total Personal Banking	14,759		12,486	11,071	38,316	6,546,296	6,584,612	2,002
Commercial Banking:
Commercial real estate loans	3,893		2,736	5,882	12,511	2,652,505	2,665,016	185
Commercial real estate loans - owner occupied	417		419	152	988	361,634	362,622	—
Commercial loans	4,366		8,732	3,385	16,483	1,725,631	1,742,114	324
Total Commercial Banking	8,676		11,887	9,419	29,982	4,739,770	4,769,752	509
Total loans	$	23,435	24,373	20,490	68,298	11,286,066	11,354,364	2,511

The following table provides information related to the amortized cost basis of loan payment delinquencies at December 31, 2023 (in thousands):

	30-59 days delinquent		60-89 days delinquent	90 days or greater delinquent	Total delinquency	Current	Total loans receivable	90 days or greater delinquent and accruing
Personal Banking:
Residential mortgage loans	$	30,041	7,796	7,995	45,832	3,382,353	3,428,185	1,671
Home equity loans	5,761		982	3,126	9,869	1,217,989	1,227,858	26
Vehicle loans	10,382		3,326	3,051	16,759	1,991,842	2,008,601	44
Consumer loans	829		428	927	2,184	115,242	117,426	722
Total Personal Banking	47,013		12,532	15,099	74,644	6,707,426	6,782,070	2,463
Commercial Banking:
Commercial real estate loans	2,010		1,031	6,535	9,576	2,618,881	2,628,457	225
Commercial real estate loans - owner occupied	1,194		—	177	1,371	344,182	345,553	—
Commercial loans	4,196		703	2,780	7,679	1,651,050	1,658,729	10
Total Commercial Banking	7,400		1,734	9,492	18,626	4,614,113	4,632,739	235
Total originated loans	$	54,413	14,266	24,591	93,270	11,321,539	11,414,809	2,698

Credit Quality Indicators: For Commercial Banking 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 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 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 possible in the future.

For Personal Banking loans a pass risk rating is maintained until they are 90 days or greater past due, and risk rating reclassification is based primarily on past due status of the loan. The risk rating categories can generally be described by the following groupings:

Pass — Loans classified as pass are homogeneous loans that are less than 90 days past due from the required payment date at month-end.

Substandard — Loans classified as substandard are homogeneous loans that are greater than 90 days past due from the required payment date at month-end, or homogenous retail loans that are greater than 180 days past due from the required payment date at month-end that has been written down to the value of underlying collateral, less costs to sell.

Doubtful — Loans classified as doubtful are homogeneous loans that are greater than 180 days past due from the required payment date at month-end and not written down to the value of underlying collateral. These loans are generally charged-off in the month in which the 180 day period elapses.

The following table presents the amortized cost basis of our loan portfolio by year of origination and credit quality indicator and the current period charge-offs by year of origination for each portfolio segment as of June 30, 2024 (in thousands):

	YTD June 30, 2024		2023	2022	2021	2020	Prior	Revolving loans	Revolving loans converted to term loans	Total loans receivable
Personal Banking:
Residential mortgage loans
Pass	$	16,707	197,466	646,931	770,828	488,009	1,192,427	—	—	3,312,368
Substandard	—		51	1,644	376	838	8,791	—	—	11,700
Total residential mortgage loans	16,707		197,517	648,575	771,204	488,847	1,201,218	—	—	3,324,068
Residential mortgage current period charge-offs	—		—	(250)	—	(114)	(50)	—	—	(414)
Home equity loans
Pass	12,105		64,074	93,892	97,376	135,246	263,136	465,532	44,826	1,176,187
Substandard	—		—	130	54	233	1,275	1,361	1,246	4,299
Total home equity loans	12,105		64,074	94,022	97,430	135,479	264,411	466,893	46,072	1,180,486
Home equity current period charge-offs	—		—	(40)	(2)	—	(320)	(228)	(59)	(649)
Vehicle loans
Pass	352,639		558,240	556,097	307,322	95,012	87,268	—	—	1,956,578
Substandard	34		784	1,400	1,352	253	527	—	—	4,350
Total vehicle loans	352,673		559,024	557,497	308,674	95,265	87,795	—	—	1,960,928
Vehicle current period charge-offs	(61)		(1,153)	(1,261)	(1,207)	(213)	(619)	—	—	(4,514)
Consumer loans
Pass	15,714		19,085	8,647	3,966	1,328	5,123	63,732	696	118,291
Substandard	8		88	40	21	—	18	569	95	839
Total consumer loans	15,722		19,173	8,687	3,987	1,328	5,141	64,301	791	119,130
Consumer loan current period charge-offs	202		(1,444)	(325)	(162)	(27)	(508)	(333)	(23)	(2,620)
Total Personal Banking	397,207		839,788	1,308,781	1,181,295	720,919	1,558,565	531,194	46,863	6,584,612
Commercial Banking:
Commercial real estate loans
Pass	97,120		236,451	509,501	269,475	300,353	906,187	26,428	24,099	2,369,614
Special mention	—		3,311	25,879	39,250	15,583	17,823	805	—	102,651
Substandard	1,485		3,621	2,061	54,971	18,673	111,759	102	79	192,751
Total commercial real estate loans	98,605		243,383	537,441	363,696	334,609	1,035,769	27,335	24,178	2,665,016
Commercial real estate current period charge-offs	—		—	(44)	(360)	—	(445)	—	—	(849)
Commercial real estate loans - owner occupied
Pass	47,702		13,022	34,667	46,645	13,637	152,801	3,397	1,281	313,152
Special mention	—		2,200	3,211	1,307	—	21,510	—	—	28,228
Substandard	—		11,869	—	—	3,334	4,368	—	1,671	21,242
Total commercial real estate loans - owner occupied	47,702		27,091	37,878	47,952	16,971	178,679	3,397	2,952	362,622
Commercial real estate - owner occupied current period charge-offs	—		—	—	—	—	—	—	—	—
Commercial loans
Pass	322,393		402,521	298,891	35,474	15,652	64,712	530,098	3,311	1,673,052
Special mention	7,740		27,814	4,871	583	284	166	4,788	1,154	47,400
Substandard	—		8,199	3,998	889	136	1,775	4,531	2,134	21,662
Total commercial loans	330,133		438,534	307,760	36,946	16,072	66,653	539,417	6,599	1,742,114
Commercial loans current period charge-offs	—		(47)	(1,787)	(115)	(182)	(266)	(75)	(10)	(2,482)
Total Commercial Banking	476,440		709,008	883,079	448,594	367,652	1,281,101	570,149	33,729	4,769,752
Total loans	$	873,647	1,548,796	2,191,860	1,629,889	1,088,571	2,839,666	1,101,343	80,592	11,354,364

For the six months ended June 30, 2024, $10 million of revolving loans were converted to term loans.

The following table presents the amortized cost basis of our loan portfolio by year of origination and credit quality indicator for each portfolio segment as of December 31, 2023 (in thousands): 

	2023		2022	2021	2020	2019	Prior	Revolving loans	Revolving loans converted to term loans	Total loans receivable
Personal Banking:
Residential mortgage loans
Pass	$	186,081	665,379	792,488	506,068	244,678	1,019,152	—	—	3,413,846
Substandard	—		1,581	—	1,252	311	11,195	—	—	14,339
Total residential mortgage loans	186,081		666,960	792,488	507,320	244,989	1,030,347	—	—	3,428,185
Residential mortgage current period charge-offs	—		(9)	(5)	(130)	(23)	(1,023)	—	—	(1,189)
Home equity loans
Pass	71,497		100,639	106,043	146,121	94,144	197,259	463,868	43,526	1,223,097
Substandard	—		236	54	197	35	1,733	1,447	1,059	4,761
Total home equity loans	71,497		100,875	106,097	146,318	94,179	198,992	465,315	44,585	1,227,858
Home equity current period charge-offs	—		(53)	(46)	—	(48)	(352)	(144)	(209)	(852)
Vehicle loans
Pass	664,876		682,275	397,809	132,775	67,853	58,153	—	—	2,003,741
Substandard	646		1,418	1,453	299	556	488	—	—	4,860
Total vehicle loans	665,522		683,693	399,262	133,074	68,409	58,641	—	—	2,008,601
Vehicle current period charge-offs	(678)		(1,844)	(1,967)	(475)	(652)	(853)	—	—	(6,468)
Consumer loans
Pass	24,277		11,582	5,552	2,072	1,355	6,603	64,214	820	116,475
Substandard	55		43	19	6	6	46	726	50	951
Total consumer loans	24,332		11,625	5,571	2,078	1,361	6,649	64,940	870	117,426
Consumer loan current period charge-offs	(3,412)		(511)	(390)	(157)	(177)	(980)	(317)	(38)	(5,983)
Total Personal Banking	947,432		1,463,153	1,303,418	788,790	408,938	1,294,629	530,255	45,455	6,782,070
Commercial Banking:
Commercial real estate loans
Pass	223,335		470,762	303,873	332,620	228,382	745,244	27,583	24,804	2,356,603
Special Mention	2,819		24,735	27,871	5,365	4,053	38,665	711	—	104,219
Substandard	1,920		750	26,850	18,167	37,044	82,717	79	108	167,635
Total commercial real estate loans	228,074		496,247	358,594	356,152	269,479	866,626	28,373	24,912	2,628,457
Commercial real estate current period charge-offs	(14)		—	(492)	—	(51)	(1,741)	—	—	(2,298)
Commercial real estate loans - owner occupied
Pass	24,725		51,986	47,655	15,984	28,614	140,175	2,378	2,390	313,907
Special Mention	1,221		120	1,218	—	14,386	2,952	—	—	19,897
Substandard	—		—	118	1,666	4,646	4,641	—	678	11,749
Total commercial real estate loans - owner occupied	25,946		52,106	48,991	17,650	47,646	147,768	2,378	3,068	345,553
Commercial real estate - owner occupied current period charge-offs	—		—	—	—	—	(68)	—	—	(68)
Commercial loans
Pass	482,605		430,378	73,469	26,868	34,090	54,617	531,742	4,110	1,637,879
Special Mention	508		3,671	52	299	240	26	1,882	—	6,678
Substandard	—		3,015	872	356	2,361	840	4,729	1,999	14,172
Total commercial loans	483,113		437,064	74,393	27,523	36,691	55,483	538,353	6,109	1,658,729
Commercial loans current period charge-offs	(35)		(2,072)	(517)	(430)	(205)	(845)	(60)	(2)	(4,166)
Total Commercial Banking	737,133		985,417	481,978	401,325	353,816	1,069,877	569,104	34,089	4,632,739
Total loans	$	1,684,565	2,448,570	1,785,396	1,190,115	762,754	2,364,506	1,099,359	79,544	11,414,809

For the year ended December 31, 2023, $19 million of revolving loans were converted to term loans.