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Loans and Allowance for Loan Losses (Tables)
 3 Months Ended
Mar. 31, 2022
Receivables [Abstract]  
Financing Receivable, Allowance for Credit Loss
The following table summarizes the change in the allowance for loan losses by loan category for the three months ended March 31, 2022:
Three Months Ended March 31, 2022
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, prior to adoption of ASU 2016-13$18,018 $52,373 $2,585 $10,983 $6,556 $3,722 $3,308 $242 $97,787 
Cumulative effect of change in accounting principle (1)11,533 (6,655)1,485 6,160 13,489 1,857 (541)(242)27,086 
Charge-offs(1)— — (945)— — (661)— (1,607)
Recoveries250 14 — 928 10 4 179 — 1,385 
(Release of) provision(2,959)(1,120)344 143 2,188 435 484 — (485)
Ending balance (2)$26,841 $44,612 $4,414 $17,269 $22,243 $6,018 $2,769 $— $124,166 
(1)Represents the adjustment needed to reflect the cumulative day one impact pursuant to the Company’s adoption of ASU 2016-13 (i.e., cumulative effect adjustment related the adoption of ASU 2016-13 as of January 1, 2022). The adjustment represents a $27.1 million increase to the allowance attributable to the change in accounting methodology for estimating the allowance for loan losses resulting from the Company’s adoption of the standard. The adjustment also includes the adjustment needed to reflect the day one reclassification of the Company’s PCI loan balances to PCD and the associated gross-up of $0.1 million, pursuant to the Company’s adoption of ASU 2016-13.
(2)The balance of accrued interest receivable excluded from amortized cost and the calculation of the allowance for loan losses amounted to $31.4 million at March 31, 2022.
The following tables summarize the changes in the allowance for loan losses by loan category for the three months ended March 31, 2021:
For the Three Months Ended March 31, 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— (234)— (1,384)— — (364)— (1,982)
Recoveries9 — — 365 10 71 156 — 611 
(Release of) Provision(1,220)803 (1,203)1,371 (210)(239)239 (121)(580)
Ending balance
$25,406 $55,138 $3,350 $13,504 $6,235 $3,576 $3,498 $373 $111,080 

The following tables bifurcate the amount of loans and the allowance for loan losses allocated to each loan category based on the type of impairment analysis as of December 31, 2021:
As of December 31, 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$1,540 $— $— $450 $1,549 $270 $161 $— $3,970 
Acquired with deteriorated credit quality5 298 — — 243 — — — 546 
Collectively evaluated for impairment16,473 52,075 2,585 10,533 4,764 3,452 3,147 242 93,271 
Total allowance for loan losses by group$18,018 $52,373 $2,585 $10,983 $6,556 $3,722 $3,308 $242 $97,787 
Loans ending balance:
Individually evaluated for impairment$16,145 $3,520 $— $12,060 $22,378 $3,922 $179 $— $58,204 
Acquired with deteriorated credit quality19,028 47,553 — — 3,058 — — — 69,639 
Collectively evaluated for impairment2,925,354 4,471,440 222,328 1,322,634 1,901,374 1,096,231 214,306 — 12,153,667 
Total loans by group$2,960,527 $4,522,513 $222,328 $1,334,694 $1,926,810 $1,100,153 $214,485 $— $12,281,510 
Financing Receivable Credit Quality Indicators
The following table details the amortized cost balances of the Company’s loan portfolios, presented by credit quality indicator and origination year as of March 31, 2022:
20222021202020192018PriorRevolving LoansRevolving Loans Converted to Term Loans (1)Total
(In thousands)
Commercial and industrial
Pass$117,534 $566,764 $498,791 $231,968 $142,428 $689,728 $504,127 $686 $2,752,026 
Special Mention— 886 — 514 278 4,459 51,581 — 57,718 
Substandard— 11,302 3,756 340 23,031 8,275 790 346 47,840 
Doubtful— 4,996 — — — 114 3,384 — 8,494 
Loss— — — — — — — — — 
Total commercial and industrial117,534 583,948 502,547 232,822 165,737 702,576 559,882 1,032 2,866,078 
Commercial real estate
Pass378,744 845,405 641,300 676,903 495,084 1,304,769 43,970 3,478 4,389,653 
Special Mention26,613 — 16,142 3,796 19,562 19,776 — — 85,889 
Substandard29,903 58 4,663 1,654 38,038 49,327 8,000 — 131,643 
Doubtful— — — — — — — — — 
Loss— — — — — — — — — 
Total commercial real estate435,260 845,463 662,105 682,353 552,684 1,373,872 51,970 3,478 4,607,185 
Commercial construction
Pass3,623 124,777 59,181 32,857 — — 15,760 — 236,198 
Special Mention— — 2,097 — — — — — 2,097 
Substandard— — — 6,743 — — — — 6,743 
Doubtful— — — — — — — — — 
Loss— — — — — — — — — 
Total commercial construction3,623 124,777 61,278 39,600 — — 15,760 — 245,038 
Business banking
Pass54,881 309,961 200,726 141,974 69,341 285,849 77,782 3,436 1,143,950 
Special Mention2,174 2,176 3,219 9,152 7,181 14,498 1,908 — 40,308 
Substandard— 464 1,617 4,993 564 9,542 1,244 680 19,104 
Doubtful— — — 203 — 103 — — 306 
Loss— — — — — — — — — 
Total business banking57,055 312,601 205,562 156,322 77,086 309,992 80,934 4,116 1,203,668 
Residential real estate
Current and accruing81,889 740,106 406,401 112,976 78,320 505,432 — — 1,925,124 
30-89 days past due and accruing— 2,553 1,387 201 1,513 6,808 — — 12,462 
Accruing loans past 90 days due— — — — — — — — — 
Non-accrual— — 129 582 784 6,761 — — 8,256 
Total residential real estate81,889 742,659 407,917 113,759 80,617 519,001 — — 1,945,842 
Consumer home equity
Current and accruing15,321 12,792 6,903 6,448 26,582 91,599 929,383 1,788 1,090,816 
30-89 days past due and accruing— 33 31 — 170 1,490 2,004 67 3,795 
Accruing loans past 90 days due— — — — — — — — — 
Non-accrual— — 74 679 1,293 1,948 3,147 — 7,141 
Total consumer home equity15,321 12,825 7,008 7,127 28,045 95,037 934,534 1,855 1,101,752 
Other consumer
Current and accruing15,652 39,868 22,534 25,531 33,967 33,664 15,295 — 186,511 
30-89 days past due and accruing12 107 76 117 449 429 — — 1,190 
Accruing loans past 90 days due— — — — — — — — — 
Non-accrual— 95 27 37 174 172 — — 505 
Total other consumer15,664 40,070 22,637 25,685 34,590 34,265 15,295 — 188,206 
Total$726,346 $2,662,343 $1,869,054 $1,257,668 $938,759 $3,034,743 $1,658,375 $10,481 $12,157,769 
(1)The amounts presented represent the amortized cost as of March 31, 2022 of revolving loans that were converted to term loans during the three months ended March 31, 2022.
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 December 31, 2021
CategoryCommercial and
Industrial		Commercial
Real Estate		Commercial
Construction		Business
Banking		Total
(In thousands)
Unrated$171,537 $4,378 $— $696,629 $872,544 
Pass2,656,873 4,199,803 213,744 569,956 7,640,376 
Special mention70,141 104,517 1,889 50,085 226,632 
Substandard50,339 213,815 6,695 17,814 288,663 
Doubtful11,637 — — 210 11,847 
Loss— — — — — 
Total$2,960,527 $4,522,513 $222,328 $1,334,694 $9,040,062 
Impaired Financing Receivables
The following table summarizes the Company’s impaired loans by loan portfolio as of December 31, 2021:
As of December 31, 2021
Recorded
Investment		Unpaid
Principal
Balance		Related
Allowance
(In thousands)
With no related allowance recorded:
Commercial and industrial$12,309 $13,212 $— 
Commercial real estate3,520 3,520 — 
Business banking4,199 5,069 — 
Residential real estate11,217 12,587 — 
Consumer home equity1,924 1,924 — 
Other consumer18 18 — 
Sub-total33,187 36,330 — 
With an allowance recorded:
Commercial and industrial3,836 4,226 1,540 
Commercial real estate— — — 
Business banking7,861 11,240 450 
Residential real estate11,161 11,161 1,549 
Consumer home equity1,998 1,998 270 
Other consumer161 161 161 
Sub-total25,017 28,786 3,970 
Total$58,204 $65,116 $3,970 
The following table displays information regarding interest income recognized on impaired loans, by portfolio, for the three months ended March 31, 2021:
For the Three Months Ended March 31, 2021
Average
Recorded
Investment		Total
Interest
Recognized
(In thousands)
With no related allowance recorded:
Commercial and industrial$9,899 $46 
Commercial real estate4,176 44 
Business banking5,024 26 
Residential real estate14,648 144 
Consumer home equity2,438 20 
Other consumer27 — 
Sub-total36,212 280 
With an allowance recorded:
Commercial and industrial7,965 — 
Commercial real estate657 — 
Business banking16,325 14 
Residential real estate12,248 127 
Consumer home equity2,150 18 
Sub-total39,345 159 
Total$75,557 $439 
Schedule Financing Receivable, Purchased with Credit Deterioration The following table displays the outstanding and carrying amounts of PCI loans as of December 31, 2021:
As of December 31, 2021
(In thousands)
Outstanding balance$78,074 
Carrying amount69,639 
Schedule Of Certain Loans And Debt Securities Acquired In Transfer The following table summarizes activity in the accretable yield for the PCI loan portfolio:
For the Three Months Ended March 31, 2021
(In thousands)
Balance at beginning of period$2,495 
Accretion(216)
Other change in expected cash flows(248)
Balance at end of period$2,031