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Loans and Allowance for Credit Losses (Tables)
 9 Months Ended
Sep. 30, 2022
Receivables [Abstract]  
Schedule of Loans Outstanding by Class of Financing Receivable
Loans outstanding as of September 30, 2022 and December 31, 2021, by class of financing receivable are as follows:
 September 30,December 31,
 2022 2021 
Commercial and industrial (1)
$1,534,159 $1,290,565 
Construction1,679,497 1,327,659 
Residential real estate:
1-to-4 family mortgage1,545,252 1,270,467 
Residential line of credit460,774 383,039 
Multi-family mortgage394,366 326,551 
Commercial real estate:
Owner-occupied1,158,343 951,582 
Non-owner occupied1,954,219 1,730,165 
Consumer and other378,406 324,634 
Gross loans9,105,016 7,604,662 
Less: Allowance for credit losses(134,476)(125,559)
Net loans$8,970,540 $7,479,103 
(1)Includes $851 and $3,990 of loans originated as part of the Paycheck Protection Program as of September 30, 2022 and December 31, 2021, respectively. PPP loans are federally guaranteed as part of the CARES Act, provided PPP loan recipients receive loan forgiveness under the SBA regulations. As such, there is minimal credit risk associated with these loans.
Schedule of Changes in Allowance for Credit Losses by Class of Financing Receivable
The following tables provide the changes in the allowance for credit losses by class of financing receivable for the three and nine months ended September 30, 2022 and 2021:
 Commercial
and industrial 		Construction1-to-4
family
residential
mortgage 		Residential
line of credit 		Multi-family
residential
mortgage 		Commercial
real estate
owner
occupied 		Commercial
real estate
non-owner
occupied 		Consumer
and other 		Total
Three months ended September 30, 2022
Beginning balance -
June 30, 2022
$10,191 $38,383 $21,398 $6,875 $6,503 $7,329 $22,536 $13,057 $126,272 
Provision for credit losses5 3,044 3,975 77 (629)688 247 782 8,189 
Recoveries of loans
previously charged-off
342 — 13 — — 51 — 70 476 
Loans charged off— — (20)— — — — (441)(461)
Ending balance -
September 30, 2022
$10,538 $41,427 $25,366 $6,952 $5,874 $8,068 $22,783 $13,468 $134,476 
Nine Months Ended September 30, 2022
Beginning balance -
December 31, 2021
$15,751 $28,576 $19,104 $5,903 $6,976 $12,593 $25,768 $10,888 $125,559 
Provision for credit losses(4,784)12,840 6,266 1,032 (1,102)(4,601)(2,985)3,575 10,241 
Recoveries of loans
previously charged-off
1,326 11 39 17 — 76 — 635 2,104 
Loans charged off(1,755)— (43)— — — — (1,630)(3,428)
Ending balance -
September 30, 2022
$10,538 $41,427 $25,366 $6,952 $5,874 $8,068 $22,783 $13,468 $134,476 
 
 Commercial
and industrial 		Construction1-to-4
family
residential
mortgage 		Residential
line of credit 		Multi-family
residential
mortgage 		Commercial
real estate
owner
occupied 		Commercial
real estate
non-owner
occupied 		Consumer
and other 		Total
Three Months Ended September 30, 2021
Beginning balance -
June 30, 2021
$13,791 $32,838 $19,672 $6,716 $13,475 $4,707 $42,856 $10,608 $144,663 
Provision for loan losses3,203 (3,080)(2,677)(952)(1,462)7,665 (6,450)921 (2,832)
Recoveries of loans
previously charged-off
19 3 33 1 — 4 — 169 229 
Loans charged off(2,175)(1)— — — — — (438)(2,614)
Ending balance -
September 30, 2021
$14,838 $29,760 $17,028 $5,765 $12,013 $12,376 $36,406 $11,260 $139,446 
Nine Months Ended September 30, 2021 
Beginning balance -
December 31, 2020
$14,748 $58,477 $19,220 $10,534 $7,174 $4,849 $44,147 $11,240 $170,389 
Provision for credit losses2,667 (28,690)(2,141)(4,767)4,839 7,384 (7,741)1,100 (27,349)
Recoveries of loans
previously charged-off
235 3 98 16 — 143 — 554 1,049 
Loans charged off(2,812)(30)(149)(18)— — — (1,634)(4,643)
Ending balance -
 September 30, 2021		$14,838 $29,760 $17,028 $5,765 $12,013 $12,376 $36,406 $11,260 $139,446 
Schedule of Credit Quality of Loan Portfolio by Year of Origination
The following tables present the credit quality of our commercial loan portfolio by year of origination as of September 30, 2022 and December 31, 2021. Revolving loans are presented separately. Management considers the guidance in ASC 310-20 when determining whether a modification, extension, or renewal constitutes a current period origination. Generally, current period renewals of credit are reunderwritten at the point of renewal and considered current period originations for the purposes of the tables below.
As of September 30, 2022
Commercial Term Loans
Amortized Cost Basis by Origination Year
20222021202020192018PriorRevolving Loans Amortized Cost BasisTotal
Commercial and industrial
Pass$284,399 $220,172 $83,831 $96,337 $40,939 $63,998 $718,260 $1,507,936 
Special Mention26 355 — 375 151 — 2,732 3,639 
Classified65 1,220 2,106 1,593 451 9,015 8,134 22,584 
Total284,490 221,747 85,937 98,305 41,541 73,013 729,126 1,534,159 
Construction
Pass570,166 569,425 215,636 71,706 18,027 46,794 183,738 1,675,492 
Special Mention428 — 18 — 7 2,530 — 2,983 
Classified— 822 — — — — 200 1,022 
Total570,594 570,247 215,654 71,706 18,034 49,324 183,938 1,679,497 
Residential real estate:
Multi-family mortgage
Pass117,654 163,283 33,326 30,470 4,201 35,279 8,966 393,179 
Special Mention— — — — — — — — 
Classified— — — — — 1,187 — 1,187 
Total117,654 163,283 33,326 30,470 4,201 36,466 8,966 394,366 
Commercial real estate:
Owner occupied
Pass215,250 231,038 117,751 159,546 78,881 266,021 66,718 1,135,205 
Special Mention103 1,293 — 1,470 2,294 390 — 5,550 
Classified— — 241 5,992 1,282 9,418 655 17,588 
Total215,353 232,331 117,992 167,008 82,457 275,829 67,373 1,158,343 
Non-owner occupied
Pass411,612 428,087 138,590 171,747 225,519 505,370 56,718 1,937,643 
Special Mention— 1,015 — — 82 — — 1,097 
Classified— — — 150 3,329 12,000 — 15,479 
Total411,612 429,102 138,590 171,897 228,930 517,370 56,718 1,954,219 
Total commercial loans
Pass1,599,081 1,612,005 589,134 529,806 367,567 917,462 1,034,400 6,649,455 
Special Mention557 2,663 18 1,845 2,534 2,920 2,732 13,269 
Classified65 2,042 2,347 7,735 5,062 31,620 8,989 57,860 
    Total commercial loans$1,599,703 $1,616,710 $591,499 $539,386 $375,163 $952,002 $1,046,121 $6,720,584 
As of December 31, 2021
Commercial Term Loans
Amortized Cost Basis by Origination Year
20212020201920182017PriorRevolving Loans Amortized Cost BasisTotal
Commercial and industrial
Pass$273,232 $95,279 $140,938 $52,162 $33,997 $57,020 $596,667 $1,249,295 
Special Mention79 9 949 632 3 1,519 12,367 15,558 
Classified918 2,391 2,376 3,089 3,370 6,425 7,143 25,712 
Total274,229 97,679 144,263 55,883 37,370 64,964 616,177 1,290,565 
Construction
Pass677,258 280,828 135,768 23,916 15,313 67,818 117,176 1,318,077 
Special Mention62 184 — — 1,208 1,384 — 2,838 
Classified— — 2,922 2,882 3 737 200 6,744 
Total677,320 281,012 138,690 26,798 16,524 69,939 117,376 1,327,659 
Residential real estate:
Multi-family mortgage
Pass166,576 32,242 64,345 7,124 5,602 38,526 10,891 325,306 
Special Mention— — — — — — — — 
Classified— — — — — 1,245 — 1,245 
Total166,576 32,242 64,345 7,124 5,602 39,771 10,891 326,551 
Commercial real estate:
Owner occupied
Pass170,773 131,471 174,257 83,698 69,939 236,998 57,123 924,259 
Special Mention— — 1,502 3,541 885 2,555 213 8,696 
Classified— — 3,102 768 3,295 9,616 1,846 18,627 
Total170,773 131,471 178,861 88,007 74,119 249,169 59,182 951,582 
Non-owner occupied
Pass462,478 154,048 165,917 264,855 170,602 414,85946,541 1,679,300 
Special Mention— — 3,747 3,388 — 969— 8,104 
Classified— — 1,898 23,849 1,506 15,508— 42,761 
Total462,478 154,048 171,562 292,092 172,108 431,336 46,541 1,730,165 
Total commercial loans
Pass1,750,317 693,868 681,225 431,755 295,453 815,221 828,398 5,496,237 
Special Mention141 193 6,198 7,561 2,096 6,427 12,580 35,196 
Classified918 2,391 10,298 30,588 8,174 33,531 9,189 95,089 
    Total commercial loans$1,751,376 $696,452 $697,721 $469,904 $305,723 $855,179 $850,167 $5,626,522 
The following tables present the credit quality by classification (performing or nonperforming) of our consumer loan portfolio by year of origination as of September 30, 2022 and December 31, 2021. Revolving loans are presented separately. Management considers the guidance in ASC 310-20 when determining whether a modification, extension, or renewal constitutes a current period origination. Generally, current period renewals of credit are reunderwritten at the point of renewal and considered current period originations for the purposes of the tables below.
As of September 30, 2022
Consumer Term Loans
Amortized Cost Basis by Origination Year
20222021202020192018PriorRevolving Loans Amortized Cost BasisTotal
Residential real estate:
1-to-4 family mortgage
Performing507,621 454,839 166,905 96,216 72,019 228,305 — 1,525,905 
Nonperforming1,039 4,379 3,940 2,020 1,731 6,238 — 19,347 
Total508,660 459,218 170,845 98,236 73,750 234,543 — 1,545,252 
Residential line of credit
Performing— — — — — — 458,894 458,894 
Nonperforming— — — — — — 1,880 1,880 
Total— — — — — — 460,774 460,774 
Consumer and other
Performing107,264 61,291 44,898 32,694 28,416 86,524 9,564 370,651 
Nonperforming81 1,061 1,365 936 1,591 2,720 1 7,755 
       Total107,345 62,352 46,263 33,630 30,007 89,244 9,565 378,406 
Total consumer loans
Performing614,885 516,130 211,803 128,910 100,435 314,829 468,458 2,355,450 
Nonperforming1,120 5,440 5,305 2,956 3,322 8,958 1,881 28,982 
Total consumer loans$616,005 $521,570 $217,108 $131,866 $103,757 $323,787 $470,339 $2,384,432 
As of December 31, 2021
Consumer Term Loans
Amortized Cost Basis by Origination Year
20212020201920182017PriorRevolving Loans Amortized Cost BasisTotal
Residential real estate:
1-to-4 family mortgage
Performing521,533 204,690 121,775 100,164 109,087 199,262 — 1,256,511 
Nonperforming1,232 3,734 977 2,429 1,765 3,819 — 13,956 
Total522,765 208,424 122,752 102,593 110,852 203,081 — 1,270,467 
Residential line of credit
Performing— — — — — — 381,303 381,303 
Nonperforming— — — — — — 1,736 1,736 
Total— — — — — — 383,039 383,039 
Consumer and other
Performing82,910 55,123 38,281 32,893 21,856 74,248 14,478 319,789 
Nonperforming199 345 545 1,352 861 1,496 47 4,845 
       Total83,109 55,468 38,826 34,245 22,717 75,744 14,525 324,634 
Total consumer loans
Performing604,443 259,813 160,056 133,057 130,943 273,510 395,781 1,957,603 
Nonperforming1,431 4,079 1,522 3,781 2,626 5,315 1,783 20,537 
Total consumer loans$605,874 $263,892 $161,578 $136,838 $133,569 $278,825 $397,564 $1,978,140 
Schedule of Analysis of Aging by Class of Financing Receivable
The following tables represent an analysis of the aging by class of financing receivable as of September 30, 2022 and December 31, 2021:
September 30, 202230-89 days
past due and accruing
interest		90 days or 
more and accruing
interest 		Non-accrual
loans		Loans current
on payments
and accruing
interest 		Total
Commercial and industrial$1,812 $38 $1,730 $1,530,579 $1,534,159 
Construction1,916 — — 1,677,581 1,679,497 
Residential real estate:
1-to-4 family mortgage16,994 13,767 5,580 1,508,911 1,545,252 
Residential line of credit542 209 1,671 458,352 460,774 
Multi-family mortgage— — 44 394,322 394,366 
Commercial real estate:
Owner occupied982 — 4,873 1,152,488 1,158,343 
Non-owner occupied293 — 6,960 1,946,966 1,954,219 
Consumer and other8,057 1,988 5,767 362,594 378,406 
Total$30,596 $16,002 $26,625 $9,031,793 $9,105,016 
 
December 31, 202130-89 days
past due and accruing
interest		90 days or 
more and accruing
interest 		Non-accrual
loans		Loans current on payments and accruing interest Total
Commercial and industrial$1,030 $63 $1,520 $1,287,952 $1,290,565 
Construction4,852 718 3,622 1,318,467 1,327,659 
Residential real estate:
1-to-4 family mortgage11,007 9,363 4,593 1,245,504 1,270,467 
Residential line of credit319 — 1,736 380,984 383,039 
Multi-family mortgage— — 49 326,502 326,551 
Commercial real estate:
Owner occupied1,417 — 6,710 943,455 951,582 
Non-owner occupied427 — 14,084 1,715,654 1,730,165 
Consumer and other7,398 1,591 3,254 312,391 324,634 
Total$26,450 $11,735 $35,568 $7,530,909 $7,604,662 
Schedule of Amortized Cost, Related Allowance and Interest Income of Non-accrual Loans
The following tables provide the amortized cost basis of loans on non-accrual status, as well as any related allowance as of September 30, 2022 and December 31, 2021 by class of financing receivable.
September 30, 2022Non-accrual
with no
related
allowance		Non-accrual
with
related
allowance		Related
allowance
Commercial and industrial$1,228 $502 $3 
Residential real estate:
1-to-4 family mortgage1,537 4,043 73 
Residential line of credit1,070 601 9 
Multi-family mortgage— 44 1 
Commercial real estate:
Owner occupied4,710 163 1 
Non-owner occupied6,751 209 4 
Consumer and other— 5,767 291 
Total$15,296 $11,329 $382 
December 31, 2021Non-accrual
with no
related
allowance		Non-accrual
with
related
allowance		Related
allowance
Commercial and industrial$1,085 $435 $6 
Construction2,882 740 99 
Residential real estate:
1-to-4 family mortgage378 4,215 60 
Residential line of credit797 939 11 
Multi-family mortgage— 49 2 
Commercial real estate:
Owner occupied5,346 1,364 206 
Non-owner occupied13,898 186 7 
Consumer and other— 3,254 164 
Total$24,386 $11,182 $555 
The following presents interest income recognized on non-accrual loans for the three and nine months ended September 30, 2022 and 2021:
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
Commercial and industrial$26 $190 $163 $523 
Construction5 75 31 105 
Residential real estate:
1-to-4 family mortgage78 114 185 199 
Residential line of credit37 197 98 242 
Multi-family mortgage— — 2 2 
Commercial real estate:
Owner occupied61 187 149 419 
Non-owner occupied89 123 235 353 
Consumer and other113 75 182 130 
Total$409 $961 $1,045 $1,973 
Schedule of Financial Effect of TDRs
The following tables present the financial effect of TDRs recorded during the periods indicated:
Three Months Ended September 30, 2022Number of loansPre-modification outstanding recorded investmentPost-modification outstanding recorded investmentCharge offs and specific reserves
Commercial and industrial1 $207 $117 $— 
Residential real estate:
1-to-4 family mortgage1 $252 $568 $— 
Total2 $459 $685 $— 
Nine Months Ended September 30, 2022Number of loansPre-modification outstanding recorded investment Post-modification outstanding recorded investment Charge offs and specific reserves
Commercial and industrial2 $262 $172 $— 
Residential real estate:
1-to-4 family mortgage2 332 648 — 
Residential line of credit1 49 49 — 
Consumer and other1 22 22 — 
Total6 $665 $891 $— 
Three Months Ended September 30, 2021Number of loansPre-modification outstanding recorded investmentPost-modification outstanding recorded investmentCharge offs and specific reserves
Residential real estate:
1-to-4 family mortgage1 134 134 — 
Total1 $134 $134 $— 
Nine Months Ended September 30, 2021Number of loansPre-modification outstanding recorded investment Post-modification outstanding recorded investment Charge offs and specific reserves
Commercial and industrial5 $13,162 $13,162 $— 
Commercial real estate:
Owner occupied43,550 3,550 — 
Non-owner occupied111,997 11,997 — 
Residential real estate:
1-4 family mortgage3945 945 — 
   Residential line of credit111 11 — 
Total14$29,665 $29,665 $— 
Schedule of Individually Assessed Allowance for Credit Losses for Collateral Dependent Loans
For loans for which the repayment (based on the Company's assessment) is expected to be provided substantially through the operation or sale of collateral and the borrower is experiencing financial difficulty, the following tables present the loans and the corresponding individually assessed allowance for credit losses by class of financing receivable. Significant changes in individually assessed reserves are due to changes in the valuation of the underlying collateral in addition to changes in accrual and past due status.
September 30, 2022
Type of Collateral
Real EstateFinancial Assets and Equipment TotalIndividually assessed allowance for credit loss
Commercial and industrial$1,228 $787 $2,015 $— 
Residential real estate:
1-to-4 family mortgage1,192 — 1,192 205 
Residential line of credit1,069 — 1,069 — 
Commercial real estate:
Owner occupied5,823 — 5,823 — 
Non-owner occupied6,751 — 6,751 — 
Consumer and other139 — 139 — 
Total$16,202 $787 $16,989 $205 
December 31, 2021
Type of Collateral
Real EstateFinancial Assets and Equipment TotalIndividually assessed allowance for credit loss
Commercial and industrial$799 $1,090 $1,889 $— 
Construction3,580 — 3,580 92 
Residential real estate:
1-to-4 family mortgage338 — 338 — 
Residential line of credit1,400 — 1,400 10 
Commercial real estate:
Owner occupied8,117 71 8,188 200 
Non-owner occupied13,899 — 13,899 — 
Consumer and other25 — 25 1 
Total$28,158 $1,161 $29,319 $303