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Loans and Allowance for Loan Losses (Tables)
 6 Months Ended
Jun. 30, 2021
Receivables [Abstract]  
Summary of financing receivable composition of loan portfolio
The following table provides a summary of the Company’s loan portfolio as of the dates indicated:
At June 30,At December 31,
20212020
(In thousands)
Commercial and industrial$1,740,679 $1,995,016 
Commercial real estate3,775,771 3,573,630 
Commercial construction237,927 305,708 
Business banking1,339,852 1,339,164 
Residential real estate1,457,498 1,370,957 
Consumer home equity834,938 868,270 
Other consumer (1)234,410 277,780 
Gross loans before unamortized premiums, unearned discounts and deferred fees9,621,075 9,730,525 
Allowance for loan losses(105,637)(113,031)
Unamortized premiums, net of unearned discounts and deferred fees(29,739)(23,536)
Loans after the allowance for credit losses, unamortized premiums, unearned discounts and deferred fees
$9,485,699 $9,593,958 
(1) Automobile loans are included in the other consumer portfolio above and amounted to $83.7 million and $126.7 million at June 30, 2021 and December 31, 2020, respectively.
Summary of allowance for credit losses on financing receivables by loan category
The following tables summarize the changes in the allowance for loan losses by loan category for the periods indicated:
For the Three Months Ended June 30, 2021
Commercial
and
Industrial		Commercial
Real Estate		Commercial
Construction		Business
Banking		Residential
Real
Estate		Consumer
Home
Equity		Other
Consumer		OtherTotal
(In thousands)
Allowance for loan losses:
Beginning balance$25,406 $55,138 $3,350 $13,504 $6,235 $3,576 $3,498 $373 $111,080 
Charge-offs(550)— — (1,838)— — (275)— (2,663)
Recoveries13 4 — 291 17 3 192 — 520 
(Release of) provision(2,273)(2,383)96 748 226 9 211 66 (3,300)
Ending balance
$22,596 $52,759 $3,446 $12,705 $6,478 $3,588 $3,626 $439 $105,637 
For the Three Months Ended June 30, 2020
Commercial
and
Industrial		Commercial
Real Estate		Commercial
Construction		Business
Banking		Residential
Real
Estate		Consumer
Home
Equity		Other
Consumer		OtherTotal
(In thousands)
Allowance for loan losses:
Beginning balance$30,531 $49,227 $4,712 $10,181 $6,228 $3,913 $4,019 $327 $109,138 
Charge-offs(27)(24)— (1,198)— — (15)— (1,264)
Recoveries58 5 — 27 13 8 51 — 162 
Provision (release of)2,667 5,020 104 795 328 (46)(293)25 8,600 
Ending balance
$33,229 $54,228 $4,816 $9,805 $6,569 $3,875 $3,762 $352 $116,636 
For the Six Months Ended June 30, 2021
Commercial
and
Industrial		Commercial
Real Estate		Commercial
Construction		Business
Banking		Residential
Real Estate		Consumer
Home Equity		Other
Consumer		OtherTotal
(In thousands)
Allowance for loan losses:
Beginning balance$26,617 $54,569 $4,553 $13,152 $6,435 $3,744 $3,467 $494 $113,031 
Charge-offs(550)(234)— (3,222)— — (639)— (4,645)
Recoveries22 4 — 656 27 74 348 — 1,131 
(Release of) provision(3,493)(1,580)(1,107)2,119 16 (230)450 (55)(3,880)
Ending balance
$22,596 $52,759 $3,446 $12,705 $6,478 $3,588 $3,626 $439 $105,637 
For the Six Months Ended June 30, 2020
Commercial
and
Industrial		Commercial
Real Estate		Commercial
Construction		Business
Banking		Residential
Real Estate		Consumer
Home Equity		Other
Consumer		OtherTotal
(In thousands)
Allowance for loan losses:
Beginning balance$20,919 $34,730 $3,424 $8,260 $6,380 $4,027 $4,173 $384 $82,297 
Charge-offs(27)(24)— (2,535)— (473)(548)— (3,607)
Recoveries380 6 — 154 73 22 111 — 746 
Provision (release of)11,957 19,516 1,392 3,926 116 299 26 (32)37,200 
Ending balance
$33,229 $54,228 $4,816 $9,805 $6,569 $3,875 $3,762 $352 $116,636 

The following tables bifurcate the amount of loans and the allowance allocated to each loan category based on the type of impairment analysis as of the periods indicated:
As of June 30, 2021
Commercial
and
Industrial		Commercial
Real Estate		Commercial
Construction		Business
Banking		Residential
Real Estate		Consumer
Home Equity		Other
Consumer		OtherTotal
(In thousands)
Allowance for loan losses ending balance:
Individually evaluated for impairment$4,544 $— $— $937 $1,624 $263 $— $— $7,368 
Acquired with deteriorated credit quality— 249 — — 293 — — — 542 
Collectively evaluated for impairment18,052 52,510 3,446 11,768 4,561 3,325 3,626 439 97,727 
Total allowance for loan losses by group$22,596 $52,759 $3,446 $12,705 $6,478 $3,588 $3,626 $439 $105,637 
Loans ending balance:
Individually evaluated for impairment$20,266 $4,051 $— $18,179 $25,091 $3,954 $24 $— $71,565 
Acquired with deteriorated credit quality1,397 249 — — 2,880 — — — 4,526 
Collectively evaluated for impairment1,719,016 3,771,471 237,927 1,321,673 1,429,527 830,984 234,386 — 9,544,984 
Total loans by group$1,740,679 $3,775,771 $237,927 $1,339,852 $1,457,498 $834,938 $234,410 $— $9,621,075 
As of December 31, 2020
Commercial
and
Industrial		Commercial
Real Estate		Commercial
Construction		Business
Banking		Residential
Real Estate		Consumer
Home Equity		Other
Consumer		OtherTotal
(In thousands)
Allowance for loan losses ending balance:
Individually evaluated for impairment$4,555 $210 $— $1,435 $1,565 $289 $— $— $8,054 
Acquired with deteriorated credit quality1,283 822 — — 327 — — — 2,432 
Collectively evaluated for impairment20,779 53,537 4,553 11,717 4,543 3,455 3,467 494 102,545 
Total allowance for loan losses by group$26,617 $54,569 $4,553 $13,152 $6,435 $3,744 $3,467 $494 $113,031 
Loans ending balance:
Individually evaluated for impairment$17,343 $4,435 $— $21,901 $27,056 $4,845 $29 $— $75,609 
Acquired with deteriorated credit quality3,432 2,749 — — 3,116 — — — 9,297 
Collectively evaluated for impairment1,974,241 3,566,446 305,708 1,317,263 1,340,785 863,425 277,751 — 9,645,619 
Total loans by group$1,995,016 $3,573,630 $305,708 $1,339,164 $1,370,957 $868,270 $277,780 $— $9,730,525 
Summary of details the internal risk-rating categories for the Company's commercial and industrial, commercial real estate, commercial construction and business banking portfolios
The following tables detail the internal risk-rating categories for the Company’s commercial and industrial, commercial real estate, commercial construction and business banking portfolios:
As of June 30, 2021
CategoryCommercial and
Industrial		Commercial
Real Estate		Commercial
Construction		Business
Banking		Total
(In thousands)
Unrated$434,766 $5,105 $61 $913,151 $1,353,083 
Pass1,201,952 3,492,582 218,073 346,198 5,258,805 
Special mention48,853 127,856 13,703 53,920 244,332 
Substandard39,751 150,177 6,090 25,299 221,317 
Doubtful15,357 51 — 1,284 16,692 
Loss— — — — — 
Total$1,740,679 $3,775,771 $237,927 $1,339,852 $7,094,229 
As of December 31, 2020
CategoryCommercial and
Industrial		Commercial
Real Estate		Commercial
Construction		Business
Banking		Total
(In thousands)
Unrated$655,346 $6,585 $— $918,921 $1,580,852 
Pass1,199,522 3,256,697 280,792 336,657 5,073,668 
Special mention78,117 134,562 10,330 57,092 280,101 
Substandard47,525 173,308 14,586 24,788 260,207 
Doubtful14,506 2,478 — 1,706 18,690 
Loss— — — — — 
Total$1,995,016 $3,573,630 $305,708 $1,339,164 $7,213,518 
Summary pertaining to the breakdown of the Company's nonaccrual loans
The following is a summary pertaining to the breakdown of the Company’s non-accrual loans:
As of June 30,As of December 31,
20212020
(In thousands)
Commercial and industrial$14,591 $11,714 
Commercial real estate531 915 
Business banking14,234 17,430 
Residential real estate6,445 6,815 
Consumer home equity3,592 3,602 
Other consumer514 529 
Total non-accrual loans$39,907 $41,005 
Summary of age analysis of past due loans
The following tables show the age analysis of past due loans as of the dates indicated:
As of June 30, 2021
30-59
Days Past
Due		60-89
Days Past
Due		90 or More
Days Past
Due		Total Past
Due		CurrentTotal
Loans		Recorded
Investment
> 90 Days
and Accruing
(In thousands)
Commercial and industrial$— $267 $647 $914 $1,739,765 $1,740,679 $275 
Commercial real estate1,896 — 1,414 3,310 3,772,461 3,775,771 1,164 
Commercial construction— — — — 237,927 237,927 — 
Business banking4,004 1,902 6,609 12,515 1,327,337 1,339,852 — 
Residential real estate11,706 1,330 4,631 17,667 1,439,831 1,457,498 277 
Consumer home equity610 403 3,408 4,421 830,517 834,938 9 
Other consumer1,074 438 513 2,025 232,385 234,410 — 
Total$19,290 $4,340 $17,222 $40,852 $9,580,223 $9,621,075 $1,725 
As of December 31, 2020
30-59
Days Past
Due		60-89
Days Past
Due		90 or More
Days Past
Due		Total Past
Due		CurrentTotal
Loans		Recorded
Investment
>90 Days
and Accruing
(In thousands)
Commercial and industrial$4 $268 $1,924 $2,196 $1,992,820 $1,995,016 $848 
Commercial real estate— 556 1,545 2,101 3,571,529 3,573,630 1,111 
Commercial construction— — — — 305,708 305,708 — 
Business banking5,279 3,311 10,196 18,786 1,320,378 1,339,164 — 
Residential real estate9,184 2,517 4,904 16,605 1,354,352 1,370,957 279 
Consumer home equity1,806 364 3,035 5,205 863,065 868,270 9 
Other consumer1,978 234 517 2,729 275,051 277,780 — 
Total$18,251 $7,250 $22,121 $47,622 $9,682,903 $9,730,525 $2,247 
Summary of TDR loans on accrual and nonaccrual status
The following tables show the TDR loans on accrual and non-accrual status as of the dates indicated:
As of June 30, 2021
TDRs on Accrual StatusTDRs on Non-Accrual StatusTotal TDRs
Number of LoansBalance of
Loans		Number of
Loans		Balance of
Loans		Number of
Loans		Balance of
Loans
(Dollars in thousands)
Commercial and industrial1 $5,675 6 $9,607 7 $15,282 
Commercial real estate1 3,520 — — 1 3,520 
Business banking5 3,945 7 1,507 12 5,452 
Residential real estate135 21,677 26 3,129 161 24,806 
Consumer home equity77 3,494 12 460 89 3,954 
Other consumer2 5 1 19 3 24 
Total221 $38,316 52 $14,722 273 $53,038 
As of December 31, 2020
TDRs on Accrual StatusTDRs on Non-Accrual StatusTotal TDRs
Number of LoansBalance of
Loans		Number of LoansBalance of
Loans		Number of LoansBalance of
Loans
(Dollars in thousands)
Commercial and industrial1 $5,628 7 $6,819 8 $12,447 
Commercial real estate1 3,521 1 480 2 4,001 
Business banking6 4,471 6 722 12 5,193 
Residential real estate146 23,416 27 3,273 173 26,689 
Consumer home equity91 4,030 12 815 103 4,845 
Other consumer3 29 — — 3 29 
Total248 $41,095 53 $12,109 301 $53,204 
Summary of the modifications which occurred during the periods and the change in the recorded investment subsequent to the modifications occurring
The following tables show the modifications which occurred during the periods and the change in the recorded investment subsequent to the modifications occurring:
For the Three Months Ended June 30, 2021For the Six Months Ended June 30, 2021
Number
of
Contracts		Pre-
Modification
Outstanding
Recorded
Investment		Post-
Modification
Outstanding
Recorded
Investment (1)		Number
of
Contracts		Pre-Modification
Outstanding
Recorded
Investment		Post-
Modification
Outstanding
Recorded
Investment (1)
(Dollars in thousands)
Business banking1 $462 $462 1 $462 $462 
Residential real estate— — — 1 295 295 
Total1 $462 $462 2 $757 $757 
(1)The post-modification balances represent the balance of the loan on the date of modification. These amounts may show an increase when modification includes capitalization of interest.
For the Three Months Ended June 30, 2020For the Six Months Ended June 30, 2020
Number
of
Contracts		Pre-
Modification
Outstanding
Recorded
Investment		Post-
Modification
Outstanding
Recorded
Investment (1)		Number
of
Contracts		Pre-Modification
Outstanding
Recorded
Investment		Post-
Modification
Outstanding
Recorded
Investment (1)
(Dollars in thousands)
Commercial and industrial1 $141 $141 1 $141 $141 
Commercial real estate1 506 506 1 506 506 
Business banking4 1,165 1,165 4 1,165 1,165 
Residential real estate2 155 155 3 399 399 
Consumer home equity4 113 113 12 527 531 
Other consumer— — — 1 24 24 
Total12 $2,080 $2,080 22 $2,762 $2,766 
(1)The post-modification balances represent the balance of the loan on the date of modification. These amounts may show an increase when modification includes capitalization of interest.
Summary of postmodification balance of troubled debt restructuring listed by type of modification
The following table shows the Company’s post-modification balance of TDRs listed by type of modification during the periods indicated:
For the Three Months Ended June 30,For the Six Months Ended June 30,
2021202020212020
(In thousands)
Interest only/principal deferred$— $1,305 $— $1,305 
Extended maturity— 35 — 35 
Extended maturity and interest only/principal deferred— 381 — 427 
Court-ordered concession— 359 295 999 
Principal and interest deferred462 — 462 — 
Total$462 $2,080 $757 $2,766 
Summary of troubled debt restructurings on financing receivables loans modified as Tdrs in the past twelve months that have subsequently defaulted
The following table shows the number of loans and the recorded investment amount of those loans, as of the respective date, that have been modified during the prior 12 months which have subsequently defaulted during the periods indicated. The Company considers a loan to have defaulted when it reaches 90 days past due or is transferred to non-accrual:
For the Six Months Ended June 30,
20212020
Number of
Contracts		Recorded
Investment		Number of
Contracts		Recorded
Investment
(Dollars in thousands)
Troubled debt restructurings that subsequently defaulted (1):
Business banking1 $411 — $— 
Consumer home equity1 57 1 1,317 
Total2 $468 1 $1,317 
(1)This table does not reflect any TDRs which were fully charged off, paid off, or otherwise settled during the period. In addition, there were no TDRs modified during the prior 12 months which subsequently defaulted during the three months ended June 30, 2021 and June 30, 2020.
summary of company's impaired loans by loan portfolio
The following table summarizes the Company’s impaired loans by loan portfolio as of the dates indicated:
As of June 30, 2021As of December 31, 2020
Recorded
Investment		Unpaid
Principal
Balance		Related
Allowance		Recorded
Investment		Unpaid
Principal
Balance		Related
Allowance
(In thousands)
With no related allowance recorded:
Commercial and industrial$12,433 $13,752 $— $9,182 $11,212 $— 
Commercial real estate4,051 4,101 — 3,955 3,974 — 
Business banking4,725 6,079 — 5,250 7,659 — 
Residential real estate13,676 15,186 — 14,730 17,010 — 
Consumer home equity2,105 2,105 — 2,571 2,571 — 
Other consumer24 24 — 29 29 — 
Sub-total37,014 41,247 — 35,717 42,455 — 
With an allowance recorded:
Commercial and industrial7,833 8,209 4,544 8,161 8,432 4,555 
Commercial real estate— — — 480 497 210 
Business banking13,454 19,172 937 16,651 21,146 1,435 
Residential real estate11,415 11,415 1,624 12,326 12,326 1,565 
Consumer home equity1,849 1,849 263 2,274 2,274 289 
Sub-total34,551 40,645 7,368 39,892 44,675 8,054 
Total$71,565 $81,892 $7,368 $75,609 $87,130 $8,054 
Summary of information regarding interest income recognized on impaired loans The following tables display information regarding interest income recognized on impaired loans, by portfolio, for the periods indicated:
For the Three Months EndedFor the Six Months Ended
June 30, 2021June 30, 2021
Average
Recorded
Investment		Total
Interest
Recognized		Average
Recorded
Investment		Total
Interest
Recognized
(In thousands)
With no related allowance recorded:
Commercial and industrial$11,800 $47 $10,849 $92 
Commercial real estate4,057 44 4,116 89 
Business banking4,748 25 4,886 51 
Residential real estate13,942 138 14,311 277 
Consumer home equity2,176 16 2,309 35 
Other consumer24 — 26 — 
Sub-total36,747 270 36,497 544 
With an allowance recorded:
Commercial and industrial7,774 — 7,870 — 
Commercial real estate155 — 405 — 
Business banking14,714 14 15,519 29 
Residential real estate11,638 121 11,927 243 
Consumer home equity1,910 14 2,028 31 
Sub-total36,191 149 37,749 303 
Total$72,938 $419 $74,246 $847 
For the Three Months EndedFor the Six Months Ended
June 30, 2020June 30, 2020
Average
Recorded
Investment		Total
Interest
Recognized		Average
Recorded
Investment		Total
Interest
Recognized
(In thousands)
With no related allowance recorded:
Commercial and industrial$12,304 $49 $16,592 $119 
Commercial real estate4,401 44 5,946 89 
Business banking2,392 17 2,339 36 
Residential real estate11,678 125 11,728 252 
Consumer home equity3,315 16 3,155 37 
Other Consumer22 — 23 1 
Sub-total34,112 251 39,783 534 
With an allowance recorded:
Commercial and industrial6,545 — 9,138 — 
Commercial real estate510 — 429 — 
Commercial construction93 — 47 — 
Business banking12,955 15 10,869 30 
Residential real estate14,664 169 14,707 343 
Consumer home equity2,706 22 3,087 51 
Sub-total37,473 206 38,277 424 
Total$71,585 $457 $78,060 $958 
Summary of outstanding and carrying amounts of Purchased credit impaired loans
The following table displays the outstanding and carrying amounts of PCI loans as of the dates indicated:
June 30,December 31,
20212020
(In thousands)
Outstanding balance$5,000 $9,982 
Carrying amount4,526 9,297 
Summary of activity in the accretable yield for the PCI loan portfolio The following table summarizes activity in the accretable yield for the PCI loan portfolio:
For the Three Months Ended June 30,For the Six Months Ended June 30,
2021202020212020
(In thousands)
Balance at beginning of period$2,031 $3,346 $2,495 $3,923 
Accretion(416)(338)(632)(760)
Other change in expected cash flows39 (10)(209)(165)
Reclassification from (to) non-accretable difference for loans with improved (deteriorated) cash flows1,327 (4)1,327 (4)
Balance at end of period$2,981 $2,994 $2,981 $2,994 
Summary of the Company's loan participations
The following table summarizes the Company’s loan participations:
As of and for the six months ended June 30, 2021As of and for the year ended December 31, 2020
BalanceNon-performing
Loan Rate
(%)		Impaired
(%)		Gross
Charge-offs		BalanceNon-performing
Loan Rate
(%)		Impaired
(%)		Gross
Charge-offs
(Dollars in thousands)
Commercial and industrial
$584,540 1.64 %1.64 %$— $598,873 1.11 %1.11 %$— 
Commercial real estate358,558 0.00 %0.00 %— 306,202 0.00 %0.00 %— 
Commercial construction85,790 0.00 %0.00 %— 119,600 0.00 %0.00 %— 
Business banking28 0.00 %0.00 %— 34 0.00 %0.00 %15 
Total loan participations
$1,028,916 0.93 %0.93 %$— $1,024,709 0.65 %0.65 %$15