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Loans and Allowance for Credit Losses (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of Accounts, Notes, Loans and Financing Receivable

The following table provides a summary of the Company’s loan portfolio as of the dates indicated:


	June 30, 2023		December 31, 2022
	(In thousands)
Commercial and industrial	$	3,341,976	$	3,150,946
Commercial real estate	5,242,290		5,155,323
Commercial construction	371,367		336,276
Business banking	1,089,548		1,090,492
Residential real estate	2,510,705		2,460,849
Consumer home equity	1,198,290		1,187,547
Other consumer (2)	207,702		194,098
Gross loans before unamortized premiums, unearned discounts and deferred fees	13,961,878		13,575,531
Allowance for loan losses (1)	(147,955)		(142,211)
Unamortized premiums, net of unearned discounts and deferred fees	(15,202)		(13,003)
Loans after the allowance for loan losses, unamortized premiums, unearned discounts and deferred fees	$	13,798,721	$	13,420,317

(1)The balance of accrued interest receivable excluded from amortized cost and the calculation of the allowance for loan losses amounted to $49.1 million and $45.2 million as of June 30, 2023 and December 31, 2022, respectively, and is included within other assets on the Consolidated Balance Sheets.

(2)Automobile loans are included in the other consumer portfolio and amounted to $10.1 million and $18.1 million at June 30, 2023 and December 31, 2022, respectively.

Financing Receivable, Allowance for Credit Loss

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, 2023
	Commercial and Industrial		Commercial Real Estate		Commercial Construction		Business Banking		Residential Real Estate		Consumer Home Equity		Other Consumer		Total
	(In thousands)
Allowance for loan losses:
Beginning balance	$	26,929	$	55,193	$	7,578	$	15,085	$	27,130	$	6,182	$	2,841	$	140,938
Charge-offs	—		—		—		(254)		—		—		(591)		(845)
Recoveries	26		2		—		204		18		—		111		361
Provision (release)	2,580		4,329		85		193		(136)		(138)		588		7,501
Ending balance	$	29,535	$	59,524	$	7,663	$	15,228	$	27,012	$	6,044	$	2,949	$	147,955


	For the Three Months Ended June 30, 2022
	Commercial and Industrial		Commercial Real Estate		Commercial Construction		Business Banking		Residential Real Estate		Consumer Home Equity		Other Consumer		Total
	(In thousands)
Allowance for loan losses:
Beginning balance	$	26,841	$	44,612	$	4,414	$	17,269	$	22,243	$	6,018	$	2,769	$	124,166
Charge-offs	(1)		—		—		(608)		—		—		(490)		(1,099)
Recoveries	698		36		—		464		14		6		196		1,414
Provision (release)	(1,686)		2,907		1,060		(426)		(594)		(362)		151		1,050
Ending balance	$	25,852	$	47,555	$	5,474	$	16,699	$	21,663	$	5,662	$	2,626	$	125,531


	For the Six Months Ended June 30, 2023
	Commercial and Industrial		Commercial Real Estate		Commercial Construction		Business Banking		Residential Real Estate		Consumer Home Equity		Other Consumer		Total
	(In thousands)
Allowance for loan losses:
Beginning balance	$	26,859	$	54,730	$	7,085	$	16,189	$	28,129	$	6,454	$	2,765	$	142,211
Cumulative effect of change in accounting principle (1)	47		—		—		(140)		(849)		(201)		—		(1,143)
Charge-offs	—		—		—		(597)		—		(7)		(1,152)		(1,756)
Recoveries	165		6		—		685		33		1		227		1,117
Provision (release)	2,464		4,788		578		(909)		(301)		(203)		1,109		7,526
Ending balance	$	29,535	$	59,524	$	7,663	$	15,228	$	27,012	$	6,044	$	2,949	$	147,955


	For the Six Months Ended June 30, 2022
	Commercial and Industrial		Commercial Real Estate		Commercial Construction		Business Banking		Residential Real Estate		Consumer Home Equity		Other Consumer		Other		Total
	(In thousands)
Allowance for loan losses:
Beginning balance	$	18,018	$	52,373	$	2,585	$	10,983	$	6,556	$	3,722	$	3,308	$	242	$	97,787
Cumulative effect of change in accounting principle (2)	11,533		(6,655)		1,485		6,160		13,489		1,857		(541)		(242)		$	27,086
Charge-offs	(2)		—		—		(1,553)		—		—		(1,151)		—		(2,706)
Recoveries	948		50		—		1,392		24		10		375		—		2,799
Provision (release)	(4,645)		1,787		1,404		(283)		1,594		73		635		—		565
Ending balance	$	25,852	$	47,555	$	5,474	$	16,699	$	21,663	$	5,662	$	2,626	$	—	$	125,531

(1)Represents the adjustment needed to reflect the cumulative day one impact pursuant to the Company’s adoption of ASU 2022-02 (i.e., cumulative effect adjustment related to the adoption of ASU 2022-02 as of January 1, 2023). The adjustment represents a $1.1 million decrease 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.

(2)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 to 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.

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 table details the amortized cost balances of the Company’s loan portfolios, presented by credit quality indicator and origination year as of June 30, 2023, and gross charge-offs for the six month period then ended:


	2023		2022		2021		2020		2019		Prior		Revolving Loans		Revolving Loans Converted to Term Loans (1)		Total
	(In thousands)
Commercial and industrial
Pass	$	443,306	$	630,894	$	447,036	$	358,942	$	162,734	$	672,756	$	549,008	$	3,534	$	3,268,210
Special Mention	—		10,090		—		14,131		—		655		852		—		25,728
Substandard	—		8,333		15,706		439		37		2,766		4,734		—		32,015
Doubtful	—		—		—		—		—		8		—		—		8
Loss	—		—		—		—		—		—		—		—		—
Total commercial and industrial	443,306		649,317		462,742		373,512		162,771		676,185		554,594		3,534		3,325,961
Current period gross charge-offs	—		—		—		—		—		—		—		—		—

Commercial real estate
Pass	255,484		1,449,542		814,467		585,707		538,764		1,390,561		57,492		2,603		5,094,620
Special Mention	—		—		—		752		—		15,560		—		—		16,312
Substandard	—		—		19,326		4,866		32,251		62,888		8,209		—		127,540
Doubtful	—		—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—		—
Total commercial real estate	255,484		1,449,542		833,793		591,325		571,015		1,469,009		65,701		2,603		5,238,472
Current period gross charge-offs	—		—		—		—		—		—		—		—		—

Commercial construction
Pass	42,767		139,127		160,158		—		14,615		—		8,998		—		365,665
Special Mention	3,454		—		—		11		—		—		—		—		3,465
Substandard	—		—		—		—		—		—		—		—		—
Doubtful	—		—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—		—
Total commercial construction	46,221		139,127		160,158		11		14,615		—		8,998		—		369,130
Current period gross charge-offs	—		—		—		—		—		—		—		—		—

Business banking
Pass	69,045		168,161		192,236		159,445		124,249		267,125		76,124		2,993		1,059,378
Special Mention	—		526		977		2,771		4,090		9,845		68		27		18,304
Substandard	1,404		—		3,625		2,183		1,097		5,115		1,311		24		14,759
Doubtful	—		—		—		21		1,103		519		—		—		1,643
Loss	—		—		—		—		—		—		—		—		—
Total business banking	70,449		168,687		196,838		164,420		130,539		282,604		77,503		3,044		1,094,084
Current period gross charge-offs	—		54		51		33		68		259		—		132		597

Residential real estate
Current and accruing	122,270		746,261		675,190		369,323		95,281		476,481		—		—		2,484,806
30-89 days past due and accruing	961		9,534		10,087		1,884		1,996		11,155		—		—		35,617
Loans 90 days or more past due and still accruing	—		—		—		—		—		—		—		—		—
Non-accrual	—		470		284		—		289		7,753		—		—		8,796
Total residential real estate	123,231		756,265		685,561		371,207		97,566		495,389		—		—		2,529,219
Current period gross charge-offs	—		—		—		—		—		—		—		—		—

Consumer home equity


Current and accruing	21,721		89,846		9,894		5,426		4,606		89,534		959,311		5,238		1,185,576
30-89 days past due and accruing	—		264		—		—		—		926		7,428		69		8,687
Loans 90 days or more past due and still accruing	—		—		—		—		—		—		—		—		—
Non-accrual	—		—		—		—		—		2,064		5,249		48		7,361
Total consumer home equity	21,721		90,110		9,894		5,426		4,606		92,524		971,988		5,355		1,201,624
Current period gross charge-offs	—		—		—		—		—		—		7		—		7

Other consumer
Current and accruing	52,817		41,880		28,008		14,871		14,592		21,877		12,994		73		187,112
30-89 days past due and accruing	26		155		121		22		41		355		131		—		851
Loans 90 days or more past due and still accruing	—		—		—		—		—		—		—		—		—
Non-accrual	—		79		58		5		16		47		18		—		223
Total other consumer	52,843		42,114		28,187		14,898		14,649		22,279		13,143		73		188,186
Current period gross charge-offs	461		177		163		76		54		138		83		—		1,152

Total	$	1,013,255	$	3,295,162	$	2,377,173	$	1,520,799	$	995,761	$	3,037,990	$	1,691,927	$	14,609	$	13,946,676

(1)The amounts presented represent the amortized cost as of June 30, 2023 of revolving loans that were converted to term loans during the six months ended June 30, 2023.

The following table details the amortized cost balances of the Company’s loan portfolios, presented by credit quality indicator and origination year as of December 31, 2022:


	2022		2021		2020		2019		2018		Prior		Revolving Loans		Revolving Loans Converted to Term Loans (1)		Total
	(In thousands)
Commercial and industrial
Pass	$	778,144	$	479,317	$	415,990	$	199,865	$	100,716	$	639,825	$	473,148	$	50	$	3,087,055
Special Mention	2,298		1,307		7,267		4,841		147		—		1,196		670		17,726
Substandard	294		4,954		2,644		46		2,598		7,854		485		346		19,221
Doubtful	—		5,249		—		—		—		23		3,254		—		8,526
Loss	—		—		—		—		—		—		—		—		—
Total commercial and industrial	780,736		490,827		425,901		204,752		103,461		647,702		478,083		1,066		3,132,528

Commercial real estate
Pass	1,510,675		825,620		586,567		581,840		461,296		1,006,160		52,590		4,187		5,028,935
Special Mention	—		—		771		4,204		15,366		12,255		—		—		32,596
Substandard	—		—		2,621		19,796		24,532		34,883		8,000		—		89,832
Doubtful	—		—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—		—
Total commercial real estate	1,510,675		825,620		589,959		605,840		501,194		1,053,298		60,590		4,187		5,151,363

Commercial construction
Pass	91,397		178,648		28,956		20,767		—		—		12,130		—		331,898
Special Mention	—		—		2,361		—		—		—		—		—		2,361
Substandard	—		—		—		—		—		—		—		—		—
Doubtful	—		—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—		—
Total commercial construction	91,397		178,648		31,317		20,767		—		—		12,130		—		334,259

Business banking
Pass	178,806		202,230		170,088		128,282		59,452		233,484		78,080		4,770		1,055,192
Special Mention	—		991		4,635		4,605		3,740		7,584		145		—		21,700
Substandard	—		3,482		1,424		2,663		570		7,505		2,230		221		18,095
Doubtful	—		—		—		181		—		70		—		—		251


Loss	—		—		—		—		—		—		—		—		—
Total business banking	178,806		206,703		176,147		135,731		63,762		248,643		80,455		4,991		1,095,238

Residential real estate
Current and accruing	761,442		696,959		382,262		99,494		66,702		434,720		—		—		2,441,579
30-89 days past due and accruing	4,652		5,470		1,245		2,762		2,951		11,646		—		—		28,726
Loans 90 days or more past due and still accruing	—		—		—		—		—		—		—		—		—
Non-accrual	—		—		144		1,491		1,015		7,100		—		—		9,750
Total residential real estate	766,094		702,429		383,651		103,747		70,668		453,466		—		—		2,480,055

Consumer home equity
Current and accruing	97,395		10,774		5,840		5,015		21,092		73,927		953,829		7,320		1,175,192
30-89 days past due and accruing	559		—		—		—		72		944		7,239		247		9,061
Loans 90 days or more past due and still accruing	—		—		—		—		—		—		—		—		—
Non-accrual	—		—		—		61		274		1,303		5,120		296		7,054
Total consumer home equity	97,954		10,774		5,840		5,076		21,438		76,174		966,188		7,863		1,191,307

Other consumer
Current and accruing	55,414		32,390		17,641		18,298		18,832		16,603		17,476		—		176,654
30-89 days past due and accruing	143		68		43		61		240		178		58		7		798
Loans 90 days or more past due and still accruing	—		—		—		—		—		—		—		—		—
Non-accrual	31		93		39		2		92		44		15		10		326
Total other consumer	55,588		32,551		17,723		18,361		19,164		16,825		17,549		17		177,778

Total	$	3,481,250	$	2,447,552	$	1,630,538	$	1,094,274	$	779,687	$	2,496,108	$	1,614,995	$	18,124	$	13,562,528

(1)The amounts presented represent the amortized cost as of December 31, 2022 of revolving loans that were converted to term loans during the year ended December 31, 2022.

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, 2023
	30-59 Days Past Due		60-89 Days Past Due		90 or More Days Past Due		Total Past Due		Current		Total Loans
	(In thousands)
Commercial and industrial	$	—	$	—	$	465	$	465	$	3,325,496	$	3,325,961
Commercial real estate	—		—		—		—		5,238,472		5,238,472
Commercial construction	—		—		—		—		369,130		369,130
Business banking	3,384		1,216		1,847		6,447		1,087,637		1,094,084
Residential real estate	34,598		1,293		6,297		42,188		2,487,031		2,529,219
Consumer home equity	6,580		2,439		6,847		15,866		1,185,758		1,201,624
Other consumer	674		188		211		1,073		187,113		188,186
Total	$	45,236	$	5,136	$	15,667	$	66,039	$	13,880,637	$	13,946,676


	As of December 31, 2022
	30-59 Days Past Due		60-89 Days Past Due		90 or More Days Past Due		Total Past Due		Current		Total Loans
	(In thousands)
Commercial and industrial	$	1,300	$	385	$	2,074	$	3,759	$	3,128,769	$	3,132,528
Commercial real estate	—		—		—		—		5,151,363		5,151,363
Commercial construction	—		—		—		—		334,259		334,259
Business banking	6,642		845		3,517		11,004		1,084,234		1,095,238
Residential real estate	25,877		3,852		6,456		36,185		2,443,870		2,480,055
Consumer home equity	8,262		1,108		6,525		15,895		1,175,412		1,191,307
Other consumer	634		170		320		1,124		176,654		177,778
Total (1)	$	42,715	$	6,360	$	18,892	$	67,967	$	13,494,561	$	13,562,528

(1)The amounts presented in the table above represent the recorded investment balance of loans as of December 31, 2022.

Summary pertaining to the breakdown of the Company's nonaccrual loans

The following table presents information regarding non-accrual loans as of the dates indicated:


	As of June 30, 2023						As of December 31, 2022
	Non-Accrual Loans With ACL		Non-Accrual Loans Without ACL (1)		Total Nonaccrual Loans		Non-Accrual Loans With ACL		Non-Accrual Loans Without ACL (1)		Total Nonaccrual Loans
	(In thousands)
Commercial and industrial	$	7	$	8,095	$	8,102	$	3,270	$	10,707	$	13,977
Commercial real estate	—		—		—		—		—		—
Commercial construction	—		—		—		—		—		—
Business banking	5,956		120		6,076		5,844		1,653		7,497
Residential real estate	8,796		—		8,796		9,750		—		9,750
Consumer home equity	7,361		—		7,361		7,054		—		7,054
Other consumer	223		—		223		326		—		326
Total non-accrual loans	$	22,343	$	8,215	$	30,558	$	26,244	$	12,360	$	38,604

(1)The loans on non-accrual status and without an ACL as of both June 30, 2023 and December 31, 2022, were primarily comprised of collateral dependent loans for which the fair value of the underlying loan collateral exceeded the loan carrying value.

Summary of the modifications which occurred during the periods and the change in the recorded investment subsequent to the modifications occurring

The following table shows the amortized cost balance as of June 30, 2023 of loans modified during the periods noted below to borrowers experiencing financial difficulty by the type of concession granted:


	Three Months Ended June 30, 2023				Six Months Ended June 30, 2023
	Amortized Cost Balance		% of Total Portfolio		Amortized Cost Balance		% of Total Portfolio
	(Dollars in thousands)
Interest Rate Reduction:
Business banking	3		0.00	%	50		0.00	%
Residential real estate	311		0.01	%	311		0.01	%
Consumer home equity	426		0.04	%	1,239		0.10	%
Total interest rate reduction	$	740	0.01	%	$	1,600	0.01	%
Other-than-Insignificant Delay in Repayment:
Residential real estate	387		0.02	%	713		0.03	%
Consumer home equity	578		0.05	%	600		0.05	%
Total other-than-insignificant delay in repayment	$	965	0.01	%	$	1,313	0.01	%
Term Extension:
Business banking	340		0.03	%	340		0.03	%
Total term extension	$	340	0.00	%	$	340	0.00	%
Combination—Interest Rate Reduction & Other-than-Insignificant Delay in Repayment:
Business banking	33		0.00	%	94		0.01	%
Consumer home equity	—		—	%	175		0.01	%


Total combination—interest rate reduction & other-than-insignificant delay in repayment	$	33	0.00	%	$	269	0.00	%
Combination—Interest Rate Reduction & Term Extension:
Business banking	71		0.01	%	524		0.05	%
Consumer home equity	—		—	%	218		0.02	%
Total combination—interest rate reduction & term extension	$	71	0.00	%	$	742	0.01	%
Combination—Term Extension & Other-than-Insignificant Delay in Repayment:
Business banking	—		—	%	28		0.00	%
Residential real estate	143		0.01	%	143		0.01	%
Total combination—term extension & other-than-insignificant delay in repayment	$	143	0.00	%	$	171	0.00	%
Combination—Interest Rate Reduction, Term Extension & Other-than-Insignificant Delay in Repayment
Business banking	—		—	%	119		0.01	%
Residential real estate	85		0.00	%	85		0.00	%
Total combination—interest rate reduction, term extension & other-than-insignificant delay in repayment	$	85	0.00	%	$	204	0.00	%
Total by portfolio segment
Business banking	447		0.04	%	1,155		0.11	%
Residential real estate	926		0.04	%	1,252		0.05	%
Consumer home equity	1,004		0.08	%	2,232		0.19	%
Total	$	2,377	0.02	%	$	4,639	0.03	%

The following table describes the financial effect of the modifications made during the three months ended June 30, 2023 to borrowers experiencing financial difficulty:

Loan Type

Financial Effect (1)

Interest Rate Reduction

Business banking

Reduced weighted-average contractual interest rate from 11.3% to 8.7%.

Residential real estate

Reduced weighted-average contractual interest rate from 5.4% to 3.6%.

Consumer home equity

Reduced weighted-average contractual interest rate from 7.5% to 4.0%.

Other-than-Insignificant Delay in Repayment

Business banking

Deferred a weighted average of 1 payment. For the principal and interest deferral, the loan was re-amortized over an extended payment period resulting in reduced monthly payment amounts for the borrower.

Residential real estate

Deferred a weighted average of 11 principal and interest payments which were added to the end of the loan life.

Consumer home equity

Deferred a weighted average of 11 principal and interest payments which were added to the end of the loan life.

Term Extension

Business banking

Added a weighted-average 4.3 years to the life of loans, which reduced monthly payment amounts for the borrowers.

Residential real estate

Added a weighted-average 23.7 years to the life of loans, which reduced monthly payment amounts for the borrowers

(1)Loans that were modified in more than one manner are included in each modification type corresponding to the type of modifications performed.

The following table describes the financial effect of the modifications made during the six months ended June 30, 2023 to borrowers experiencing financial difficulty:

Loan Type

Financial Effect (1)

Interest Rate Reduction

Business banking

Reduced weighted-average contractual interest rate from 9.7% to 7.2%.

Residential real estate

Reduced weighted-average contractual interest rate from 5.4% to 3.6%.

Consumer home equity

Reduced weighted-average contractual interest rate from 7.1% to 4.3%.

Other-than-Insignificant Delay in Repayment

Business banking

Deferred a weighted average of 10 payments. For principal and interest deferrals, the loans were re-amortized over an extended payment period resulting in reduced monthly payment amounts for the borrowers. For interest-only deferrals, interest accrued at the time of the modification was added to the end of the loan life.

Residential real estate

Deferred a weighted average of 10 principal and interest payments which were added to the end of the loan life.

Consumer home equity

Deferred a weighted average of 10 principal and interest payments which were added to the end of the loan life.

Term Extension

Business banking

Added a weighted-average 4.3 years to the life of loans, which reduced monthly payment amounts for the borrowers.

Residential real estate

Added a weighted-average 23.7 years to the life of loans, which reduced monthly payment amounts for the borrowers.

Consumer home equity

Added a weighted-average 17.2 years to the life of loans, which reduced monthly payment amounts for the borrowers.

(1)Loans that were modified in more than one manner are included in each modification type corresponding to the type of modifications performed.

The following table shows the TDR loans on accrual and non-accrual status as of December 31, 2022:


	TDRs on Accrual Status			TDRs on Non-Accrual Status			Total TDRs
	Number of Loans	Balance of Loans		Number of Loans	Balance of Loans		Number of Loans	Balance of Loans
	(Dollars in thousands)
Commercial and industrial	2	$	4,449	9	$	11,317	11	$	15,766
Business banking	11	4,124		22	2,101		33	6,225
Residential real estate	114	17,618		28	4,016		142	21,634
Consumer home equity	51	2,632		19	1,917		70	4,549
Other consumer	1	11		—	—		1	11
Total	179	$	28,834	78	$	19,351	257	$	48,185

The following table shows the modifications which occurred during the periods indicated and the change in the recorded investment subsequent to the modifications occurring:


	For the Three Months Ended June 30, 2022					For the Six Months Ended June 30, 2022
	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 industrial	1	$	2,418	$	2,418	1	$	2,418	$	2,418
Business banking	6	130		130		11	570		578
Residential real estate	2	595		595		3	729		729
Consumer home equity	1	22		22		2	232		232
Total	10	$	3,165	$	3,165	17	$	3,949	$	3,957

(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.

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, 2022		For the Six Months Ended June 30, 2022
	(In thousands)
Extended maturity	595		997
Adjusted interest rate and extended maturity	22		412
Interest only/principal deferred	130		130
Covenant modification	2,418		2,418
Total	$	3,165	$	3,957

Summary of the age analysis of past due loans to borrowers experiencing financial difficulty

The following table shows the age analysis of past due loans to borrowers experiencing financial difficulty as of June 30, 2023 that were modified during the six months ended June 30, 2023:


	As of June 30, 2023
	30-59 Days Past Due		60-89 Days Past Due		90 or More Days Past Due		Total Past Due		Current		Total
	(In thousands)
Business banking	93		27		158		278		877		1,155
Residential real estate	—		—		—		—		1,252		1,252
Consumer home equity	—		—		—		—		2,232		2,232
Total	$	93	$	27	$	158	$	278	$	4,361	$	4,639

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, 2023						As of and for the Year Ended December 31, 2022
	Balance		Non-performing Loan Rate (%)		Gross Charge-offs		Balance		Non-performing Loan Rate (%)		Gross Charge-offs
	(Dollars in thousands)
Commercial and industrial	$	1,209,736	0.63	%	$	—	$	1,024,131	0.83	%	$	—
Commercial real estate	410,480		0.00	%	—		422,042		0.00	%	—
Commercial construction	148,472		0.00	%	—		96,134		0.00	%	—
Business banking	122		0.00	%	—		51		0.00	%	3
Total loan participations	$	1,768,810	0.43	%	$	—	$	1,542,358	0.55	%	$	3