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Loans And Allowance For Credit Losses (Tables)
 9 Months Ended
Sep. 30, 2020
Loans And Allowance For Credit Losses [Abstract]  
Summary Classification Of Held For Investment Loan Portfolio
Major classifications within the Company’s held for investment loan portfolio at September 30, 2020 and December 31, 2019 are as follows:

(In thousands)
September 30, 2020December 31, 2019
Commercial:
Business$6,683,413 $5,565,449 
Real estate – construction and land1,009,729 899,377 
Real estate – business2,993,192 2,833,554 
Personal Banking:
Real estate – personal2,753,867 2,354,760 
Consumer2,006,360 1,964,145 
Revolving home equity324,203 349,251 
Consumer credit card647,893 764,977 
Overdrafts2,270 6,304 
Total loans (1)
$16,420,927 $14,737,817 
(1) Accrued interest receivable totaled $41.3 million at September 30, 2020 and was included within other assets on the consolidated balance sheet. For the three months ended September 30, 2020, the Company wrote-off accrued interest by reversing interest income of $89 thousand and $1.7 million in the Commercial and Personal Banking portfolios, respectively. Similarly, for the nine months ended September 30, 2020, the Company wrote-off accrued interest of $258 thousand and $4.4 million in the Commercial and Personal Banking portfolios, respectively.
CECL Model Inputs
Key model assumptions in the Company’s allowance for credit loss model include the economic forecast, the reasonable and supportable period, prepayment assumptions and qualitative factors applied for portfolio composition changes, underwriting practices, or significant unique events or conditions. The assumptions utilized in estimating the Company’s allowance for credit losses at September 30, 2020 and June 30, 2020 are discussed below.

Key AssumptionSeptember 30, 2020June 30, 2020
Overall economic forecast
•The recovery from the Global Coronavirus Recession (GCR) continues to be gradual
•Assumes no additional systemic lockdown measures
•Gradual recovery in late 2021 and into 2022
•Significant uncertainty regarding the pandemic and its impact on economy
•The recovery from the Global Coronavirus Recession (GCR) is gradual
•Assumes no second wave of contagion and states continue to loosen lockdown measures
•Gradual recovery in late 2021 and into 2022
•Significant uncertainty regarding the pandemic and its impact on economy
Reasonable and supportable period and related reversion period
•Two years for both commercial and personal banking loans
•Reversion to historical average loss rates within two quarters using a straight-line method
•Two years for both commercial and personal banking loans
•Reversion to historical average loss rates within two quarters using a straight-line method
Forecasted macro-economic variables
•Unemployment rate ranging from 8.8% to 5.3% during the supportable forecast period
•Real GDP growth ranges from 4.4% to 2.4%
•Prime rate of 3.25%
•Unemployment rate ranging from 10.9% to 5.7% during the supportable forecast period
•Real GDP growth ranges from 3.0% to 25.7%
•Prime rate of 3.25%
Prepayment assumptions
Commercial loans
•5% for most loan pools
Personal banking loans
•Ranging from 21.6% to 23.5% for most loan pools
•58.0% for consumer credit cards
Commercial loans
•5% for most loan pools
Personal banking loans
•Ranging from 18.7% to 23.3% for most loan pools
•58.0% for consumer credit cards
Qualitative factors
Added net reserves using qualitative processes related to:
•Loans originated in our recent expansion markets, loans that are designated as shared national credits, and certain COVID-19 deferral program loans.
•Changes in the composition of the loan portfolios
•Loans downgraded to special mention, substandard, or non-accrual status
Added net reserves using qualitative processes related to:
•Loans originated in our recent expansion markets and loans that are designated as shared national credits
•Changes in the composition of the loan portfolios
•Loans downgraded to special mention, substandard, or non-accrual status
Summary Of Activity In The Allowance For Credit Losses
A summary of the activity in the allowance for credit losses on loans and the liability for unfunded lending commitments during the three and nine months ended September 30, 2020 follows:

For the Three Months Ended September 30For the Nine Months Ended September 30
(In thousands)
CommercialPersonal Banking

Total
CommercialPersonal Banking

Total
ALLOWANCE FOR CREDIT LOSSES ON LOANS
Balance at end of prior period$130,553 $110,191 $240,744 $91,760 $68,922 $160,682 
Adoption of ASU 2016-13— — — (29,711)8,672 (21,039)
Balance at beginning of period$130,553 $110,191 $240,744 $62,049 $77,594 $139,643 
Provision for credit losses on loans(1,935)5,135 3,200 69,418 54,141 123,559 
Deductions:
   Loans charged off357 10,292 10,649 4,159 32,127 36,286 
   Less recoveries on loans163 2,902 3,065 1,116 8,328 9,444 
Net loan charge-offs194 7,390 7,584 3,043 23,799 26,842 
Balance September 30, 2020$128,424 $107,936 $236,360 $128,424 $107,936 $236,360 
LIABILITY FOR UNFUNDED LENDING COMMITMENTS
Balance at end of prior period$34,052 $1,247 $35,299 $399 $676 $1,075 
Adoption of ASU 2016-13— — — 16,057 33 16,090 
Balance at beginning of period$34,052 $1,247 $35,299 $16,456 $709 $17,165 
Provision for credit losses on unfunded lending commitments(60)(39)(99)17,536 499 18,035 
Balance September 30, 2020$33,992 $1,208 $35,200 $33,992 $1,208 $35,200 
ALLOWANCE FOR CREDIT LOSSES ON LOANS AND LIABILITY FOR UNFUNDED LENDING COMMITMENTS$162,416 $109,144 $271,560 $162,416 $109,144 $271,560 
Summary Of Activity in the Allowance for Loan Losses
A summary of the activity in the allowance for loan losses during the three and nine months ended September 30, 2019 follows:

For the Three Months Ended September 30For the Nine Months Ended September 30
(In thousands)CommercialPersonal Banking

Total
CommercialPersonal Banking
Total
Balance at beginning of period$91,808 $69,374 $161,182 $92,869 $67,063 $159,932 
Provision for loan losses553 10,410 10,963 55 35,177 35,232 
Deductions:
   Loans charged off490 13,990 14,480 1,436 42,233 43,669 
   Less recoveries on loans199 2,818 3,017 582 8,605 9,187 
Net loan charge-offs291 11,172 11,463 854 33,628 34,482 
Balance September 30, 2019$92,070 $68,612 $160,682 $92,070 $68,612 $160,682 
Aging Information On Past Due And Nonaccrual Loans The following table provides aging information on the Company’s past due and accruing loans, in addition to the balances of loans on non-accrual status, at September 30, 2020 and December 31, 2019.



(In thousands)
Current or Less Than 30 Days Past Due

30 – 89
Days Past Due
90 Days Past Due and Still AccruingNon-accrual



Total
September 30, 2020
Commercial:
Business$6,636,383 $7,106 $2,629 $37,295 $6,683,413 
Real estate – construction and land991,404 18,320 4 1 1,009,729 
Real estate – business2,987,992 4,137 — 1,063 2,993,192 
Personal Banking:
Real estate – personal 2,743,260 6,029 2,667 1,911 2,753,867 
Consumer1,983,820 20,329 2,211 — 2,006,360 
Revolving home equity322,572 1,237 394 — 324,203 
Consumer credit card629,181 12,181 6,531 — 647,893 
Overdrafts2,080 190 — — 2,270 
Total $16,296,692 $69,529 $14,436 $40,270 $16,420,927 
December 31, 2019
Commercial:
Business$5,545,104 $12,064 $792 $7,489 $5,565,449 
Real estate – construction and land882,826 13,046 3,503 2 899,377 
Real estate – business2,830,494 2,030 — 1,030 2,833,554 
Personal Banking:
Real estate – personal 2,345,243 6,129 1,689 1,699 2,354,760 
Consumer1,928,082 34,053 2,010 — 1,964,145 
Revolving home equity347,258 1,743 250 — 349,251 
Consumer credit card742,659 10,703 11,615 — 764,977 
Overdrafts5,972 332 — — 6,304 
Total $14,627,638 $80,100 $19,859 $10,220 $14,737,817 
Risk Category of Loans in Commercial Portfolio
The risk category of loans in the Commercial portfolio as of September 30, 2020 are as follows:
Term Loans Amortized Cost Basis by Origination Year
(In thousands)20202019201820172016PriorRevolving Loans Amortized Cost BasisTotal
Business
    Risk Rating:
       Pass$2,394,434 $1,097,498 $518,966 $356,416 $186,992 $307,681 $1,535,511 $6,397,498 
       Special mention29,620 28,518 17,532 1,120 5,773 1,843 63,973 148,379 
       Substandard16,118 26,401 2,139 2,849 3,608 13,879 35,247 100,241 
       Non-accrual19,948 — 2,065 16 125 3,845 11,296 37,295 
   Total Business:$2,460,120 $1,152,417 $540,702 $360,401 $196,498 $327,248 $1,646,027 $6,683,413 
Real estate-construction
    Risk Rating:
       Pass$407,465 $323,632 $131,606 $49,040 $24,660 $682 $32,865 $969,950 
       Special mention— — 10,107 14,555 — — — 24,662 
       Substandard1,354 — 593 13,169 — — — 15,116 
       Non-accrual1 — — — — — — 1 
    Total Real estate-construction:$408,820 $323,632 $142,306 $76,764 $24,660 $682 $32,865 $1,009,729 
Real estate- business
    Risk Rating:
       Pass$713,079 $698,287 $384,214 $283,843 $329,613 $238,663 $46,224 $2,693,923 
       Special mention24,660 11,959 45,547 6,943 20,837 1,285 2 111,233 
       Substandard57,938 6,099 11,228 57,364 17,306 33,472 3,566 186,973 
       Non-accrual1 285 624 — — 153 — 1,063 
   Total Real-estate business:$795,678 $716,630 $441,613 $348,150 $367,756 $273,573 $49,792 $2,993,192 
Commercial loans
    Risk Rating:
       Pass$3,514,978 $2,119,417 $1,034,786 $689,299 $541,265 $547,026 $1,614,600 $10,061,371 
       Special mention54,280 40,477 73,186 22,618 26,610 3,128 63,975 284,274 
       Substandard75,410 32,500 13,960 73,382 20,914 47,351 38,813 302,330 
       Non-accrual19,950 285 2,689 16 125 3,998 11,296 38,359 
   Total Commercial loans:$3,664,618 $2,192,679 $1,124,621 $785,315 $588,914 $601,503 $1,728,684 $10,686,334 
Credit Quality of the Commercial Loan Portfolio
Information about the credit quality of the Commercial loan portfolio as of December 31, 2019 follows:

Commercial Loans


(In thousands)


Business
Real
 Estate-Construction
Real
Estate-
Business


Total
December 31, 2019
Pass$5,393,928 $856,364 $2,659,827 $8,910,119 
Special mention80,089 42,541 92,626 215,256 
Substandard83,943 470 80,071 164,484 
Non-accrual7,489 2 1,030 8,521 
Total $5,565,449 $899,377 $2,833,554 $9,298,380 
Credit Quality of Personal Banking Loan Portfolio
The credit quality of Personal Banking loans is monitored primarily on the basis of aging/delinquency, and this information is provided as of September 30, 2020 below:
Term Loans Amortized Cost Basis by Origination Year
(In thousands)20202019201820172016PriorRevolving Loans Amortized Cost BasisTotal
Real estate-personal
       Current to 90 days past due$897,007 $532,003 $238,092 $227,499 $247,754 $595,713 $11,221 $2,749,289 
       Over 90 days past due273 394 422 361 357 860 — 2,667 
       Non-accrual— 195 129 45 121 1,421 — 1,911 
   Total Real estate-personal:$897,280 $532,592 $238,643 $227,905 $248,232 $597,994 $11,221 $2,753,867 
Consumer
       Current to 90 days past due$446,909 $380,399 $188,186 $137,253 $90,236 $104,466 $656,700 $2,004,149 
       Over 90 days past due76 337 158 176 162 278 1,024 2,211 
    Total Consumer:$446,985 $380,736 $188,344 $137,429 $90,398 $104,744 $657,724 $2,006,360 
Revolving home equity
       Current to 90 days past due$— $— $— $— $— $— $323,809 $323,809 
       Over 90 days past due— — — — — — 394 394 
   Total Revolving home equity:$— $— $— $— $— $— $324,203 $324,203 
Consumer credit card
       Current to 90 days past due$— $— $— $— $— $— $641,362 $641,362 
       Over 90 days past due— — — — — — 6,531 6,531 
   Total Consumer credit card:$— $— $— $— $— $— $647,893 $647,893 
Overdrafts
       Current to 90 days past due$2,270 $— $— $— $— $— $— $2,270 
       Over 90 days past due— — — — — — — — 
    Total Overdrafts:$2,270 $— $— $— $— $— $— $2,270 
Personal banking loans
       Current to 90 days past due$1,346,186 $912,402 $426,278 $364,752 $337,990 $700,179 $1,633,092 $5,720,879 
       Over 90 days past due349 731 580 537 519 1,138 7,949 11,803 
       Non-accrual— 195 129 45 121 1,421 — 1,911 
   Total Personal banking loans:$1,346,535 $913,328 $426,987 $365,334 $338,630 $702,738 $1,641,041 $5,734,593 
Amortized Cost Basis of Collateral-Dependent Loans The following table presents the amortized cost basis of collateral-dependent loans as of September 30, 2020.
(In thousands)Business AssetsFuture Revenue StreamsEnergyTotal
Commercial:
  Business$18,843 $3,616 $14,276 $36,734 
Total$18,843 $3,616 $14,276 $36,734 
Summary Of Loans In The Personal Banking Portfolio Percentage Of Balances Outstanding For the remainder of loans in the Personal Banking portfolio, the table below shows the percentage of balances outstanding at September 30, 2020 and December 31, 2019 by FICO score.
   Personal Banking Loans
% of Loan Category
Real Estate - PersonalConsumerRevolving Home EquityConsumer Credit Card
September 30, 2020
FICO score:
Under 6001.0 %2.4 %1.4 %5.2 %
600 - 6592.1 3.9 2.5 12.9 
660 - 7198.5 14.5 7.3 32.2 
720 - 77925.7 25.6 22.6 27.5 
780 and over62.7 53.6 66.2 22.2 
Total100.0 %100.0 %100.0 %100.0 %
December 31, 2019
FICO score:
Under 6001.0 %3.0 %1.7 %5.6 %
600 - 6591.9 5.2 1.9 14.3 
660 - 7199.2 15.4 9.0 32.2 
720 - 77925.7 27.0 21.5 26.6 
780 and over62.2 49.4 65.9 21.3 
Total100.0 %100.0 %100.0 %100.0 %
Additional Information about Troubled Debt Restructurings
(In thousands)September 30, 2020December 31, 2019
Accruing restructured loans:
Commercial
$50,921 $55,934 
Assistance programs
8,208 8,365 
Consumer bankruptcy
3,101 3,592 
Other consumer
2,418 3,621 
Non-accrual loans
8,513 7,938 
Total troubled debt restructurings
$73,161 $79,450 
Outstanding Balance Of Loans Classified As Troubled Debt Restructurings
The table below shows the balance of troubled debt restructurings by loan classification at September 30, 2020, in addition to the outstanding balances of these restructured loans which the Company considers to have been in default at any time during the past twelve months. For purposes of this disclosure, the Company considers "default" to mean 90 days or more past due as to interest or principal.

(In thousands)September 30, 2020Balance 90 days past due at any time during previous 12 months
Commercial:
Business$17,696 $674 
Real estate - construction and land41 — 
Real estate - business40,596 — 
Personal Banking:
Real estate - personal3,278 252 
Consumer3,530 103 
Revolving home equity56 — 
Consumer credit card7,964 257 
Total troubled debt restructurings$73,161 $1,286 
Investment In Impaired Loans
The table below shows the Company’s balances of impaired loans at December 31, 2019. These loans consist of all loans on non-accrual status and other restructured loans whose terms have been modified and classified as troubled debt restructurings. These restructured loans are performing in accordance with their modified terms, and because the Company believes it probable that all amounts due under the modified terms of the agreements will be collected, interest on these loans is being recognized on an accrual basis. They are discussed further in the "Troubled debt restructurings" section above.

(In thousands)Dec. 31, 2019
Non-accrual loans$10,220 
Restructured loans (accruing)71,512 
Total impaired loans$81,732 
Allowance For Loan Losses And Related Loan Balance Disaggregated On The Basis Of Impairment Methodology
The following table shows the balance in the allowance for loan losses and the related loan balance at December 31, 2019, disaggregated on the basis of impairment methodology. Impaired loans evaluated under Accounting Standards Codification (ASC) 310-10-35 include loans on non-accrual status, which are individually evaluated for impairment, and other impaired loans deemed to have similar risk characteristics, which are collectively evaluated. All other loans are collectively evaluated for impairment under ASC 450-20.

Impaired LoansAll Other Loans

(In thousands)
Allowance for Loan LossesLoans OutstandingAllowance for Loan LossesLoans Outstanding
December 31, 2019
Commercial$1,629 $64,500 $90,131 $9,233,880 
Personal Banking1,117 17,232 67,805 5,422,205 
Total$2,746 $81,732 $157,936 $14,656,085 
Additional Information About Impaired Loans Held
The following table provides additional information about impaired loans held by the Company at December 31, 2019, segregated between loans for which an allowance for credit losses has been provided and loans for which no allowance has been provided.



(In thousands)
Recorded Investment
Unpaid Principal
Balance
 Related
Allowance
December 31, 2019
With no related allowance recorded:
Business$7,054 $13,738 $— 
$7,054 $13,738 $— 
With an allowance recorded:
Business$30,437 $30,487 $837 
Real estate – construction and land46 51 1 
Real estate – business26,963 27,643 791 
Real estate – personal4,729 5,968 258 
Consumer4,421 4,421 35 
Revolving home equity35 35 1 
Consumer credit card8,047 8,047 823 
$74,678 $76,652 $2,746 
Total$81,732 $90,390 $2,746 
Total Average Impaired Loans
Total average impaired loans for the three and nine month periods ended September 30, 2019 are shown in the table below.


(In thousands)
CommercialPersonal BankingTotal
Average Impaired Loans:
For the three months ended September 30, 2019
Non-accrual loans$9,655 $1,903 $11,558 
Restructured loans (accruing)53,517 15,644 69,161 
Total$63,172 $17,547 $80,719 
For the nine months ended September 30, 2019
Non-accrual loans$9,881 $2,074 $11,955 
Restructured loans (accruing)48,248 15,605 63,853 
Total$58,129 $17,679 $75,808 
Interest Income Recognized On Impaired Loans
The table below shows interest income recognized during the three and nine month periods ended September 30, 2019, respectively, for impaired loans held at the end of each period. This interest all relates to accruing restructured loans, as discussed in the "Troubled debt restructurings" section above.

For the Three Months Ended September 30For the Nine Months Ended September 30
(In thousands)
20192019
Interest income recognized on impaired loans:
Business$222 $665 
Real estate – construction and land1 2 
Real estate – business363 1,088 
Real estate – personal31 92 
Consumer76 227 
Revolving home equity1 2 
Consumer credit card181 542 
Total$875 $2,618