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Loans and Allowance for Credit Losses for Loans (Tables)
 6 Months Ended
Jun. 30, 2024
Receivables [Abstract]  
Schedule of Loan Portfolio
The detail of the loan portfolio as of June 30, 2024 and December 31, 2023 was as follows: 
 June 30, 2024December 31, 2023
 (in thousands)
Loans:
Commercial and industrial$9,479,147 $9,230,543 
Commercial real estate:
Commercial real estate28,223,123 28,243,239 
Construction3,545,723 3,726,808 
Total commercial real estate loans31,768,846 31,970,047 
Residential mortgage5,627,113 5,569,010 
Consumer:
Home equity566,467 559,152 
Automobile1,762,852 1,620,389 
Other consumer1,107,277 1,261,154 
Total consumer loans3,436,596 3,440,695 
Total loans$50,311,702 $50,210,295 
Past Due, Non-Accrual and Current Loans by Loan Portfolio Class
The following table presents past due, current and non-accrual loans without an allowance for loan losses by loan portfolio class at June 30, 2024 and December 31, 2023:
Past Due and Non-Accrual Loans
 30-59  Days 
Past Due Loans		60-89  Days 
Past Due Loans		90 Days or More
Past Due Loans		Non-Accrual Loans
Total Past Due Loans
Current Loans
Total Loans		Non-Accrual Loans Without Allowance for Loan Losses
 (in thousands)
June 30, 2024
Commercial and industrial
$5,086 $1,621 $2,739 $102,942 $112,388 $9,366,759 $9,479,147 $18,588 
Commercial real estate:
Commercial real estate
1,879 — 4,242 123,011 129,132 28,093,991 28,223,123 93,213 
Construction— — 3,990 45,380 49,370 3,496,353 3,545,723 25,192 
Total commercial real estate loans1,879 — 8,232 168,391 178,502 31,590,344 31,768,846 118,405 
Residential mortgage17,389 6,632 2,609 28,322 54,952 5,572,161 5,627,113 18,395 
Consumer loans:
Home equity693 698 — 3,402 4,793 561,674 566,467 316 
Automobile7,680 1,301 606 189 9,776 1,753,076 1,762,852 — 
Other consumer13,266 1,672 292 33 15,263 1,092,014 1,107,277 — 
Total consumer loans21,639 3,671 898 3,624 29,832 3,406,764 3,436,596 316 
Total$45,993 $11,924 $14,478 $303,279 $375,674 $49,936,028 $50,311,702 $155,704 
 Past Due and Non-Accrual Loans  
 
30-59
Days
Past Due Loans		60-89 
Days
Past Due Loans		90 Days or More
Past Due Loans		Non-Accrual Loans
Total Past Due Loans
Current Loans		Total LoansNon-Accrual Loans Without Allowance for Loan Losses
(in thousands)
December 31, 2023
Commercial and industrial$9,307 $5,095 $5,579 $99,912 $119,893 $9,110,650 $9,230,543 $6,594 
Commercial real estate:
Commercial real estate3,008 1,257 — 99,739 104,004 28,139,235 28,243,239 81,282 
Construction— — 3,990 60,851 64,841 3,661,967 3,726,808 12,007 
Total commercial real estate loans3,008 1,257 3,990 160,590 168,845 31,801,202 31,970,047 93,289 
Residential mortgage26,345 8,200 2,488 26,986 64,019 5,504,991 5,569,010 14,654 
Consumer loans:
Home equity1,687 613 — 3,539 5,839 553,313 559,152 — 
Automobile11,850 1,855 576 212 14,493 1,605,896 1,620,389 — 
Other consumer7,017 2,247 512 632 10,408 1,250,746 1,261,154 589 
Total consumer loans20,554 4,715 1,088 4,383 30,740 3,409,955 3,440,695 589 
Total$59,214 $19,267 $13,145 $291,871 $383,497 $49,826,798 $50,210,295 $115,126 
The following table presents the aging analysis of loans that have been modified within the previous 12 months.
At June 30, 2024
Current30-89 Days Past Due90 Days or More Past Due *Total
 ($ in thousands)
Commercial and industrial$92,728 $96 $— $92,824 
Commercial real estate99,970 — 2,153 102,123 
Residential mortgage— — 898 898 
Home equity30 — — 30 
Total$192,728 $96 $3,051 $195,875 
*    All loan balances in this delinquency category were non-accrual loans at June 30, 2024.
Risk Category of Loans
The following table presents the internal loan classification risk by loan portfolio class by origination year based on the most recent analysis performed at June 30, 2024 and December 31, 2023, as well as the gross loan charge-offs by year of origination for the six months ended June 30, 2024 and for the year ended December 31, 2023:
 Term Loans  
Amortized Cost Basis by Origination Year
June 30, 202420242023202220212020Prior to 2020Revolving Loans Amortized Cost BasisRevolving Loans Converted to Term LoansTotal
 (in thousands)
Commercial and industrial
Risk Rating:
Pass$935,588 $1,082,487 $836,514 $628,483 $312,509 $605,263 $4,569,348 $10,703 $8,980,895 
Special Mention1,569 19,089 68,632 12,424 345 12,956 84,912 487 200,414 
Substandard3,640 47,951 6,118 5,859 3,494 7,633 136,764 19,181 230,640 
Doubtful25,510 6,004 15 928 655 27,958 6,128 — 67,198 
Total commercial and industrial$966,307 $1,155,531 $911,279 $647,694 $317,003 $653,810 $4,797,152 $30,371 $9,479,147 
Commercial real estate
Risk Rating:
Pass$968,014 $3,659,695 $6,091,432 $4,424,016 $2,588,616 $7,029,002 $846,354 $121,498 $25,728,627 
Special Mention14,118 268,022 229,614 170,904 73,508 352,075 14,721 — 1,122,962 
Substandard24,805 187,914 248,842 268,394 232,927 406,610 2,042 — 1,371,534 
Total commercial real estate$1,006,937 $4,115,631 $6,569,888 $4,863,314 $2,895,051 $7,787,687 $863,117 $121,498 $28,223,123 
Construction
Risk Rating:
Pass$334,093 $794,473 $594,972 $169,683 $22,469 $45,294 $1,366,676 $62,442 $3,390,102 
Special Mention9,051 — — — — — 19,767 — 28,818 
Substandard— 6,748 — 8,933 — — 78,985 — 94,666 
Doubtful— — 12,955 — 7,272 11,910 — — 32,137 
Total construction$343,144 $801,221 $607,927 $178,616 $29,741 $57,204 $1,465,428 $62,442 $3,545,723 
Gross loan charge-offs $— $2,106 $3,177 $21,351 $11,061 $17,219 $3,930 $1,324 $60,168 
 Term Loans  
Amortized Cost Basis by Origination Year
December 31, 202320232022202120202019Prior to 2019Revolving Loans Amortized Cost BasisRevolving Loans Converted to Term LoansTotal
 (in thousands)
Commercial and industrial
Risk Rating:
Pass$1,494,417 $1,047,513 $765,335 $377,047 $211,504 $523,430 $4,382,361 $29,798 $8,831,405 
Special Mention70,807 73,423 15,296 358 1,870 915 99,981 139 262,789 
Substandard3,100 1,837 2,629 1,714 1,221 5,900 29,569 4,225 50,195 
Doubtful11,658 595 1,166 (22)2,653 57,817 12,287 — 86,154 
Total commercial and industrial$1,579,982 $1,123,368 $784,426 $379,097 $217,248 $588,062 $4,524,198 $34,162 $9,230,543 
Commercial real estate
Risk Rating:
Pass$4,088,835 $6,630,322 $4,791,190 $2,789,275 $2,329,385 $5,385,809 $618,056 $104,839 $26,737,711 
Special Mention125,296 82,917 248,900 184,720 69,949 358,059 26 183 1,070,050 
Substandard58,115 25,709 12,122 48,506 70,439 214,095 4,415 2,077 435,478 
Total commercial real estate$4,272,246 $6,738,948 $5,052,212 $3,022,501 $2,469,773 $5,957,963 $622,497 $107,099 $28,243,239 
Construction
Risk Rating:
Pass$753,759 $655,198 $267,336 $10,318 $40,584 $43,560 $1,762,890 $139,599 $3,673,244 
Substandard6,721 — 9,276 — — 17,668 — — 33,665 
Doubtful— 19,899 — — — — — — 19,899 
Total construction$760,480 $675,097 $276,612 $10,318 $40,584 $61,228 $1,762,890 $139,599 $3,726,808 
Gross loan charge-offs$307 $12,919 $28,438 $6,946 $5,031 $13,446 $3,729 $145 $70,961 
The following table presents the amortized cost in those loan classes based on payment activity by origination year as of June 30, 2024 and December 31, 2023, as well as the gross loan charge-offs by year of origination for the six months ended June 30, 2024 and for the year ended December 31, 2023:
 Term Loans  
Amortized Cost Basis by Origination Year
June 30, 202420242023202220212020Prior to 2020Revolving Loans Amortized Cost BasisRevolving Loans Converted to Term LoansTotal
 (in thousands)
Residential mortgage
Performing$210,754 $450,310 $1,295,317 $1,478,365 $513,072 $1,583,270 $78,117 $1,772 $5,610,977 
90 days or more past due— — 2,864 1,164 1,141 10,967 — — 16,136 
Total residential mortgage $210,754 $450,310 $1,298,181 $1,479,529 $514,213 $1,594,237 $78,117 $1,772 $5,627,113 
Consumer loans
Home equity
Performing$9,088 $33,421 $41,705 $10,895 $3,690 $52,290 $403,918 $10,492 $565,499 
90 days or more past due— — 51 13 — 859 — 45 968 
Total home equity9,088 33,421 41,756 10,908 3,690 53,149 403,918 10,537 566,467 
Automobile
Performing$442,959 $416,685 $448,353 $280,337 $88,898 $84,848 $— $— $1,762,080 
90 days or more past due— 301 169 99 23 180 — — 772 
Total automobile442,959 416,986 448,522 280,436 88,921 85,028 — — 1,762,852 
Other consumer
Performing$11,919 $28,714 $18,284 $2,262 $1,153 $61,730 $948,227 $34,875 $1,107,164 
90 days or more past due— 11 61 — — 38 — 3 113 
Total other consumer11,919 28,725 18,345 2,262 1,153 61,768 948,227 34,878 1,107,277 
Total consumer$463,966 $479,132 $508,623 $293,606 $93,764 $199,945 $1,352,145 $45,415 $3,436,596 
Gross loan charge-offs $45 $638 $968 $430 $347 $615 $— $28 $3,071 
 Term Loans  
Amortized Cost Basis by Origination Year
December 31, 202320232022202120202019Prior to 2019Revolving Loans Amortized Cost BasisRevolving Loans Converted to Term LoansTotal
 (in thousands)
Residential mortgage
Performing$467,178 $1,304,026 $1,505,133 $538,853 $435,669 $1,244,986 $57,052 $1,771 $5,554,668 
90 days or more past due— 1,968 1,681 1,357 3,391 5,945 — — 14,342 
Total residential mortgage $467,178 $1,305,994 $1,506,814 $540,210 $439,060 $1,250,931 $57,052 $1,771 $5,569,010 
Consumer loans
Home equity
Performing$40,599 $44,893 $14,948 $4,096 $4,850 $46,274 $396,960 $4,608 $557,228 
90 days or more past due— 51 13 — — 1,132 — 728 1,924 
Total home equity40,599 44,944 14,961 4,096 4,850 47,406 396,960 5,336 559,152 
Automobile
Performing$468,152 $531,728 $356,144 $121,658 $86,147 $34,504 $20,227 $763 $1,619,323 
90 days or more past due90 284 54 92 237 309 — — 1,066 
Total automobile468,242 532,012 356,198 121,750 86,384 34,813 20,227 763 1,620,389 
Other consumer
Performing$32,662 $20,376 $2,986 $1,722 $10,381 $52,659 $1,120,863 $18,655 $1,260,304 
90 days or more past due10 79 — — — 628 — 133 850 
Total other consumer32,672 20,455 2,986 1,722 10,381 53,287 1,120,863 18,788 1,261,154 
Total consumer$541,513 $597,411 $374,145 $127,568 $101,615 $135,506 $1,538,050 $24,887 $3,440,695 
Gross loan charge-offs$296 $903 $357 $232 $752 $1,921 $31 $— $4,492 
Financing Receivable, Troubled Debt Restructuring
The following tables present the amortized cost basis of loans to borrowers experiencing financial difficulty at June 30, 2024 that were modified during the three and six months ended June 30, 2024 and 2023, disaggregated by class of financing receivable and type of modification.
Term extensionTerm extension and interest rate reductionTotal% of Total Loan Class
 ($ in thousands)
Three Months Ended
June 30, 2024
Commercial and industrial$45,807 $— $45,807 0.48 %
Commercial real estate180 — 180 — 
Residential mortgage898 — 898 0.02 
Total$46,885 $— $46,885 0.09 %
Three Months Ended
June 30, 2023
Commercial and industrial$37,762 $1,482 $39,244 0.42 %
Commercial real estate3,512 3,754 7,266 0.03 
Residential mortgage578 — 578 0.01 
Total$41,852 $5,236 $47,088 0.10 %
Six Months Ended
June 30, 2024
Commercial and industrial$79,953 $138 $80,091 0.84 %
Commercial real estate224 16,221 16,445 0.06 
Residential mortgage898 — 898 0.02 
Total$81,075 $16,359 $97,434 0.19 %
Six Months Ended
June 30, 2023
Commercial and industrial$39,033 $2,003 $41,036 0.44 %
Commercial real estate49,617 3,754 53,371 0.19 
Residential mortgage790 — 790 0.01 
Other consumer53 — 53 — 
Total$89,493 $5,757 $95,250 0.19 %
The following tables describe the types of modifications made to borrowers experiencing financial difficulty.
Types of Modifications
Three and Six months ended June 30, 2024
Commercial and industrial
3 to 24 month term extensions
24 month term extensions combined with a reduction in interest rate from 2.10 percent to 1.00 percent
Commercial real estate
2 to 36 month term extensions
12 to 18 month term extensions combined with a reduction in interest rate from 8.06 percent to 7.00 percent
Residential mortgage
50 month term extensions
Home equity
120 month term extension
Three and Six months ended June 30, 2023
Commercial and industrial
12 month term extensions
12 month term extensions combined with a reduction in interest rate from 9.38 percent to 6.50 percent
Commercial real estate
6 - 36 month term extensions
9 month term extension combined with a reduction in interest rate from 8.75 percent to 6.00 percent
Residential mortgage
12 month term extensions
Consumer
60 month term extensions
Summary of Collateral Dependent Loans
The following table presents collateral dependent loans by class as of June 30, 2024 and December 31, 2023:
 June 30,
2024		December 31,
2023
 (in thousands)
Collateral dependent loans:
Commercial and industrial *$125,186 $96,827 
Commercial real estate153,503 98,785 
Construction42,151 46,634 
Total commercial real estate loans195,654 145,419 
Residential mortgage18,721 21,843 
Home equity316 — 
Consumer— 589 
Total $339,877 $264,678 
*    Includes non-accrual loans collateralized by taxi medallions totaling $52.6 million and $62.3 million at June 30, 2024 and December 31, 2023, respectively.
Summary of Allowance for Credit Losses
The following table summarizes the ACL for loans at June 30, 2024 and December 31, 2023: 
June 30,
2024		December 31,
2023
 (in thousands)
Components of allowance for credit losses for loans:
Allowance for loan losses$519,310 $446,080 
Allowance for unfunded credit commitments13,231 19,470 
Total allowance for credit losses for loans$532,541 $465,550 
Summary of Provision for Credit Losses
The following table summarizes the provision for credit losses for loans for the periods indicated:
 Three Months Ended
June 30,		Six Months Ended
June 30,
 2024202320242023
 (in thousands)
Components of provision for credit losses for loans:
Provision for loan losses$86,901 $8,159 $133,624 $18,138 
Credit for unfunded credit commitments(4,790)(1,827)(6,239)(2,356)
Total provision for credit losses for loans$82,111 $6,332 $127,385 $15,782 
Summary of Activity in Allowance for Loan Losses
The following tables detail the activity in the allowance for loan losses by portfolio segment for the three and six months ended June 30, 2024 and 2023: 
Commercial
and Industrial		Commercial
Real Estate		Residential
Mortgage		ConsumerTotal
 (in thousands)
Three Months Ended
June 30, 2024
Allowance for loan losses:
Beginning balance$138,593 $265,847 $44,377 $20,431 $469,248 
Loans charged-off(14,721)(22,356)— (1,262)(38,339)
Charged-off loans recovered 742 150 5 603 1,500 
Net (charge-offs) recoveries(13,979)(22,206)5 (659)(36,839)
Provision for loan losses24,629 57,452 3,315 1,505 86,901 
Ending balance$149,243 $301,093 $47,697 $21,277 $519,310 
Three Months Ended
June 30, 2023
Allowance for loan losses:
Beginning balance$127,992 $243,332 $41,708 $23,866 $436,898 
Loans charged-off (3,865)(6,273)(149)(1,040)(11,327)
Charged-off loans recovered 2,173 4 135 390 2,702 
Net charge-offs(1,692)(6,269)(14)(650)(8,625)
Provision for loan losses1,945 2,632 2,459 1,123 8,159 
Ending balance$128,245 $239,695 $44,153 $24,339 $436,432 
Six Months Ended
June 30, 2024
Allowance for loan losses:
Beginning balance$133,359 $249,598 $42,957 $20,166 $446,080 
Loans charged-off(29,014)(31,154)— (3,071)(63,239)
Charged-off loans recovered 1,424 391 30 1,000 2,845 
Net (charge-offs) recoveries(27,590)(30,763)30 (2,071)(60,394)
Provision for loan losses43,474 82,258 4,710 3,182 133,624 
Ending balance$149,243 $301,093 $47,697 $21,277 $519,310 
Six Months Ended
June 30, 2023
Allowance for loan losses:
Beginning balance$139,941 $259,408 $39,020 $20,286 $458,655 
Impact of the adoption of ASU No. 2022-02
(739)(589)(12)(28)(1,368)
Beginning balance, adjusted139,202 258,819 39,008 20,258 457,287 
Loans charged-off (29,912)(11,971)(149)(1,868)(43,900)
Charged-off loans recovered 3,572 28 156 1,151 4,907 
Net (charge-offs) recoveries(26,340)(11,943)7 (717)(38,993)
Provision (credit) for loan losses15,383 (7,181)5,138 4,798 18,138 
Ending balance$128,245 $239,695 $44,153 $24,339 $436,432 
Allocation Of Allowance For Loan Losses Disaggregated Based On Impairment Methodology
The following table represents the allocation of the allowance for loan losses and the related loans by loan portfolio segment disaggregated based on the allowance measurement methodology at June 30, 2024 and December 31, 2023.
Commercial and IndustrialCommercial
Real Estate		Residential
Mortgage		ConsumerTotal
 (in thousands)
June 30, 2024
Allowance for loan losses:
Individually evaluated for credit losses$50,494 $33,096 $29 $— $83,619 
Collectively evaluated for credit losses98,749 267,997 47,668 21,277 435,691 
Total$149,243 $301,093 $47,697 $21,277 $519,310 
Loans:
Individually evaluated for credit losses$125,186 $195,654 $18,721 $316 $339,877 
Collectively evaluated for credit losses9,353,961 31,573,192 5,608,392 3,436,280 49,971,825 
Total$9,479,147 $31,768,846 $5,627,113 $3,436,596 $50,311,702 
December 31, 2023
Allowance for loan losses:
Individually evaluated for credit losses$55,993 $17,987 $235 $— $74,215 
Collectively evaluated for credit losses77,366 231,611 42,722 20,166 371,865 
Total$133,359 $249,598 $42,957 $20,166 $446,080 
Loans:
Individually evaluated for credit losses$96,827 $145,419 $21,843 $589 $264,678 
Collectively evaluated for credit losses9,133,716 31,824,628 5,547,167 3,440,106 49,945,617 
Total$9,230,543 $31,970,047 $5,569,010 $3,440,695 $50,210,295