XML 33 R23.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Loans and Allowance for Credit Losses (Tables)
 3 Months Ended
Mar. 31, 2024
Receivables [Abstract]  
Schedule of Composition of Loans
The following table summarizes the composition of originated and acquired loans as of the dates presented:
(dollars in thousands)March 31, 2024December 31, 2023
Commercial real estate$2,699,782 $2,659,135 
Commercial and industrial1,410,517 1,436,183 
Commercial construction347,375 350,583 
Business banking1,307,155 1,360,765 
Consumer real estate1,782,973 1,731,778 
Other consumer108,232 114,897 
Total Portfolio Loans$7,656,034 $7,653,341 
Loans held for sale— 153 
Total Loans(1)
$7,656,034 $7,653,494 
(1) Excludes interest receivable of $36.1 million at March 31, 2024 and $35.3 million at December 31, 2023. Interest receivable is included in other assets in the Consolidated Balance Sheets.
Summary of Restructured Loans for Periods Presented
The following tables present the amortized cost of loans to borrowers experiencing financial difficulty by portfolio segment and type of modification during the periods presented:
Three Months Ended March 31, 2024
(dollars in thousands)Term ExtensionTerm Extension and Interest Rate ReductionTotal% of Portfolio Segment
Commercial real estate$833 $— $833 0.03 %
Total
$833 $— $833 0.01 %
Three Months Ended March 31, 2023
(dollars in thousands)Term ExtensionTerm Extension and Interest Rate ReductionTotal% of Portfolio Segment
Commercial real estate$15,849 $— $15,849 0.63 %
Commercial and industrial594 — 594 0.04 %
Consumer real estate63 196 259 0.02 %
Total
$16,506 $196 $16,702 0.23 %
The following tables describe the effect of loan modifications made to borrowers experiencing financial difficulty during the periods presented:
Three Months Ended March 31, 2024
Weighted-Average Term Extension (in months)Weighted-Average Interest Rate Reduction
Commercial real estate6—
Three Months Ended March 31, 2023
Weighted-Average Term Extension (in months)Weighted-Average Interest Rate Reduction
Commercial real estate6—
Commercial and industrial72—
Consumer real estate1682%
The following table is a summary of nonperforming assets as of the dates presented:
Nonperforming Assets
(dollars in thousands)March 31, 2024December 31, 2023
Nonperforming Assets
Nonaccrual Loans$33,209 $22,947 
OREO140 75 
Total Nonperforming Assets$33,349 $23,022 
Summary of Aging Analysis of Modifications The following tables present the aging analysis of modifications to borrowers experiencing financial difficulty in the last 12 months as of the date presented:
March 31, 2024
(dollars in thousands)Current30-59 Days Past Due60-89 Days Past Due90+ Days Past DueTotal
Commercial real estate$8,579 $— $— $— $8,579 
Commercial and industrial— 2,105 7,998 — 10,103 
Business banking115 — — — 115 
Total$8,694 $2,105 $7,998 $— $18,797 
March 31, 2023
(dollars in thousands)Current30-59 Days Past Due60-89 Days Past Due90+ Days Past DueTotal
Commercial real estate$15,849 $— $— $— $15,849 
Commercial and industrial594 — — — 594 
Consumer real estate259 — — — 259 
Total$16,702 $— $— $— $16,702 
Summary of Nonperforming Assets
The following table is a summary of nonperforming assets as of the dates presented:
Nonperforming Assets
(dollars in thousands)March 31, 2024December 31, 2023
Nonperforming Assets
Nonaccrual Loans$33,209 $22,947 
OREO140 75 
Total Nonperforming Assets$33,349 $23,022 
The following tables present loans on nonaccrual status by class of loan for the year-to-date periods presented:
March 31, 2024
(dollars in thousands)Beginning of Period NonaccrualEnd of Period NonaccrualNonaccrual With No Related Allowance
Interest Income
Recognized
on Nonaccrual(1)
Commercial real estate$6,320 $17,153 $16,783 $61 
Commercial and industrial878 612 — — 
Commercial construction4,960 4,960 4,576 — 
Business banking4,147 3,907 — 44 
Consumer real estate6,312 6,371 — 83 
Other consumer330 206 — — 
Total$22,947 $33,209 $21,359 $188 
(1) Represents only cash payments received and applied to interest on nonaccrual loans.

December 31, 2023
(dollars in thousands)Beginning of Period NonaccrualEnd of Period NonaccrualNonaccrual With No Related Allowance
Interest Income
Recognized
on Nonaccrual(1)
Commercial real estate$7,100 $6,320 $5,940 $46 
Commercial and industrial283 878 — 38 
Commercial construction384 4,960 4,576 — 
Business banking4,490 4,147 — 209 
Consumer real estate6,526 6,312 — 308 
Other consumer269 330 — 2 
Total$19,052 $22,947 $10,516 $603 
(1) Represents only cash payments received and applied to interest on nonaccrual loans.
Schedule of Loans Credit Quality Indicators
The following tables present loan balances by year of origination and internally assigned risk rating for our portfolio segments as of the dates presented:
March 31, 2024
Risk Rating
(dollars in thousands)202420232022202120202019 and PriorRevolvingRevolving-TermTotal
Commercial Real Estate
Pass$25,970 $281,115 $349,797 $458,810 $226,569 $1,144,226 $34,138 $— $2,520,625 
Special mention— — 1,429 5,984 — 95,502 — — 102,915 
Substandard— — — — 2,330 73,912 — — 76,242 
Doubtful— — — — — — — — — 
Total Commercial Real Estate25,970 281,115 351,226 464,794 228,899 1,313,640 34,138 — 2,699,782 
Year-to-date Gross Charge-offs— — — — — 5,205 — — 5,205 
Commercial and Industrial
Pass13,824 173,323 226,390 165,616 50,753 212,441 482,770 — 1,325,117 
Special mention— 1,375 949 9,849 — 9,831 15,485 — 37,489 
Substandard— — 224 13,404 1,500 6,099 26,684 — 47,911 
Doubtful— — — — — — — — — 
Total Commercial and Industrial13,824 174,698 227,563 188,869 52,253 228,371 524,939 — 1,410,517 
Year-to-date Gross Charge-offs— — — 537 — 91 500 — 1,128 
Commercial Construction
Pass13,086 90,954 141,982 65,353 14,758 4,048 12,234 — 342,415 
Special mention— — — — — — — — — 
Substandard— — — — — 4,960 — — 4,960 
Doubtful— — — — — — — — — 
Total Commercial Construction13,086 90,954 141,982 65,353 14,758 9,008 12,234 — 347,375 
Year-to-date Gross Charge-offs— — — — — — — — — 
Business Banking
Pass32,910 252,607 241,227 186,203 84,354 392,973 94,920 508 1,285,702 
Special mention— 1,689 54 1,344 222 3,311 44 165 6,829 
Substandard— — 78 2,492 495 10,848 104 607 14,624 
Doubtful— — — — — — — — — 
Total Business Banking32,910 254,296 241,359 190,039 85,071 407,132 95,068 1,280 1,307,155 
Year-to-date Gross Charge-offs— — — — — 98 — — 98 
Consumer Real Estate
Pass46,543 327,577 336,058 144,925 101,267 245,620 548,769 23,048 1,773,807 
Special mention— — — — — 109 — — 109 
Substandard— — 582 196 41 5,054 713 2,471 9,057 
Doubtful— — — — — — — — — 
Total Consumer Real Estate46,543 327,577 336,640 145,121 101,308 250,783 549,482 25,519 1,782,973 
Year-to-date Gross Charge-offs— — — — 9 14 — 116 139 
Other Consumer
Pass3,026 9,488 10,789 5,528 3,259 1,101 71,612 3,210 108,013 
Special mention— — — — — — — — — 
Substandard— — — 30 12 163 — 14 219 
Doubtful— — — — — — — — — 
Total Other Consumer3,026 9,488 10,789 5,558 3,271 1,264 71,612 3,224 108,232 
Year-to-date Gross Charge-offs191 9 27 38 8 9 — 87 369 
Pass135,359 1,135,064 1,306,243 1,026,435 480,960 2,000,409 1,244,443 26,766 7,355,679 
Special mention— 3,064 2,432 17,177 222 108,753 15,529 165 147,342 
Substandard— — 884 16,122 4,378 101,036 27,501 3,092 153,013 
Doubtful— — — — — — — — — 
Total Loan Balance$135,359 $1,138,128 $1,309,559 $1,059,734 $485,560 $2,210,198 $1,287,473 $30,023 $7,656,034 
Year-to-date Gross Charge-offs$191 $9 $27 $575 $17 $5,417 $500 $203 $6,939 
December 31, 2023
Risk Rating
(dollars in thousands)202320222021202020192018 and PriorRevolvingRevolving-TermTotal
Commercial Real Estate
Pass$276,677 $323,463 $433,308 $237,901 $383,799 $781,465 $32,418 $— $2,469,031 
Special mention— 1,006 6,000 — 24,887 75,428 — — 107,321 
Substandard— — — 2,355 10,685 69,743 — — 82,783 
Doubtful— — — — — — — — — 
Total Commercial Real Estate276,677 324,469 439,308 240,256 419,371 926,636 32,418 — 2,659,135 
Year-to-date Gross Charge-offs— — — — — 1,706 — — 1,706 
Commercial and Industrial
Pass171,672 231,114 185,884 53,101 47,063 183,165 482,490 — 1,354,489 
Special mention189 620 10,242 — — 8,848 4,126 — 24,025 
Substandard— 244 14,510 1,595 5,795 1,892 33,633 — 57,669 
Doubtful— — — — — — — — — 
Total Commercial and Industrial171,861 231,978 210,636 54,696 52,858 193,905 520,249 — 1,436,183 
Year-to-date Gross Charge-offs— — — — 3,412 15,842 — — 19,254 
Commercial Construction
Pass75,596 154,456 82,313 14,845 151 4,054 14,208 — 345,623 
Special mention— — — — — — — — — 
Substandard— — — — 4,576 384 — — 4,960 
Doubtful— — — — — — — — — 
Total Commercial Construction75,596 154,456 82,313 14,845 4,727 4,438 14,208 — 350,583 
Year-to-date Gross Charge-offs— — — — 451 — — — 451 
Business Banking
Pass270,129 262,535 204,874 87,346 96,371 321,360 96,618 523 1,339,756 
Special mention— 55 251 224 33 3,508 37 172 4,280 
Substandard— 16 2,486 448 3,170 9,898 99 612 16,729 
Doubtful— — — — — — — — — 
Total Business Banking270,129 262,606 207,611 88,018 99,574 334,766 96,754 1,307 1,360,765 
Year-to-date Gross Charge-offs— 67 43 1 88 1,073 34 — 1,306 
Consumer Real Estate
Pass311,887 334,879 147,652 101,999 67,402 183,283 551,368 22,206 1,720,676 
Special mention— — — — — 189 — — 189 
Substandard— 583 198 42 488 6,322 712 2,568 10,913 
Doubtful— — — — — — — — — 
Total Consumer Real Estate311,887 335,462 147,850 102,041 67,890 189,794 552,080 24,774 1,731,778 
Year-to-date Gross Charge-offs— 1 — 5 1 43 75 296 421 
Other Consumer
Pass11,286 11,965 6,483 3,842 1,062 526 76,426 3,109 114,699 
Special mention— — — — — — — — — 
Substandard— — 24 5 20 146 — 3 198 
Doubtful— — — — — — — — — 
Total Other Consumer11,286 11,965 6,507 3,847 1,082 672 76,426 3,112 114,897 
Year-to-date Gross Charge-offs830 146 175 19 37 5 — 288 1,500 
Pass1,117,247 1,318,412 1,060,514 499,034 595,848 1,473,853 1,253,528 25,838 7,344,274 
Special Mention189 1,681 16,493 224 24,920 87,973 4,163 172 135,815 
Substandard— 843 17,218 4,445 24,734 88,385 34,444 3,183 173,252 
Doubtful— — — — — — — — — 
Total Loan Balance$1,117,436 $1,320,936 $1,094,225 $503,703 $645,502 $1,650,211 $1,292,135 $29,193 $7,653,341 
Year-to-date Gross Charge-offs$830 $214 $218 $25 $3,989 $18,669 $109 $584 $24,638 
The following tables present loan balances by year of origination and accrual and nonaccrual status for our portfolio segments as of the dates presented:
March 31, 2024
(dollars in thousands)202420232022202120202019 and PriorRevolvingRevolving-TermTotal
Commercial Real Estate
Accrual$25,970 $281,115 $351,226 $464,794 $228,899 $1,296,487 $34,138 $— $2,682,629 
Nonaccrual— — — — — 17,153 — — 17,153 
Total Commercial Real Estate25,970 281,115 351,226 464,794 228,899 1,313,640 34,138 — 2,699,782 
Commercial and Industrial
Accrual13,824 174,698 227,563 188,869 52,253 227,989 524,709 — 1,409,905 
Nonaccrual— — — — — 382 230 — 612 
Total Commercial and Industrial13,824 174,698 227,563 188,869 52,253 228,371 524,939 — 1,410,517 
Commercial Construction
Accrual13,086 90,954 141,982 65,353 14,758 4,048 12,234 — 342,415 
Nonaccrual— — — — — 4,960 — — 4,960 
Total Commercial Construction13,086 90,954 141,982 65,353 14,758 9,008 12,234 — 347,375 
Business Banking
Accrual32,910 254,296 241,359 190,039 84,986 403,333 95,068 1,257 1,303,248 
Nonaccrual— — — — 85 3,799 — 23 3,907 
Total Business Banking32,910 254,296 241,359 190,039 85,071 407,132 95,068 1,280 1,307,155 
Consumer Real Estate
Accrual46,543 327,577 336,103 145,084 100,671 247,704 549,221 23,699 1,776,602 
Nonaccrual— — 537 37 637 3,079 261 1,820 6,371 
Total Consumer Real Estate46,543 327,577 336,640 145,121 101,308 250,783 549,482 25,519 1,782,973 
Other Consumer
Accrual3,026 9,488 10,789 5,552 3,202 1,133 71,612 3,224 108,026 
Nonaccrual— — — 6 69 131 — — 206 
Total Other Consumer3,026 9,488 10,789 5,558 3,271 1,264 71,612 3,224 108,232 
Accrual135,359 1,138,128 1,309,022 1,059,691 484,769 2,180,694 1,286,982 28,180 7,622,825 
Nonaccrual— — 537 43 791 29,504 491 1,843 33,209 
Total Loan Balance$135,359 $1,138,128 $1,309,559 $1,059,734 $485,560 $2,210,198 $1,287,473 $30,023 $7,656,034 

December 31, 2023
(dollars in thousands)202320222021202020192018 and PriorRevolvingRevolving-TermTotal
Commercial Real Estate
Accrual$276,677 $324,469 $439,308 $240,256 $419,371 $920,316 $32,418 $— $2,652,815 
Nonaccrual— — — — — 6,320 — — 6,320 
Total Commercial Real Estate276,677 324,469 439,308 240,256 419,371 926,636 32,418 — 2,659,135 
Commercial and Industrial
Accrual171,861 231,978 210,636 54,696 52,858 193,257 520,019 — 1,435,305 
Nonaccrual— — — — — 648 230 — 878 
Total Commercial and Industrial171,861 231,978 210,636 54,696 52,858 193,905 520,249 — 1,436,183 
Commercial Construction
Accrual75,596 154,456 82,313 14,845 151 4,054 14,208 — 345,623 
Nonaccrual— — — — 4,576 384 — — 4,960 
Total Commercial Construction75,596 154,456 82,313 14,845 4,727 4,438 14,208 — 350,583 
Business Banking
Accrual270,129 262,606 207,611 87,979 99,354 330,902 96,754 1,283 1,356,618 
Nonaccrual— — — 39 220 3,864 — 24 4,147 
Total Business Banking270,129 262,606 207,611 88,018 99,574 334,766 96,754 1,307 1,360,765 
Consumer Real Estate
Accrual311,887 335,086 147,689 101,518 67,577 186,909 551,858 22,942 1,725,466 
Nonaccrual— 376 161 523 313 2,885 222 1,832 6,312 
Total Consumer Real Estate311,887 335,462 147,850 102,041 67,890 189,794 552,080 24,774 1,731,778 
Other Consumer
Accrual11,286 11,965 6,499 3,656 1,082 541 76,426 3,112 114,567 
Nonaccrual— — 8 191 — 131 — — 330 
Total Other Consumer11,286 11,965 6,507 3,847 1,082 672 76,426 3,112 114,897 
Accrual1,117,436 1,320,560 1,094,056 502,950 640,393 1,635,979 1,291,683 27,337 7,630,394 
Nonaccrual— 376 169 753 5,109 14,232 452 1,856 22,947 
Total Loan Balance$1,117,436 $1,320,936 $1,094,225 $503,703 $645,502 $1,650,211 $1,292,135 $29,193 $7,653,341 
The following tables present collateral-dependent loans as of the dates presented:
March 31, 2024
Type of Collateral
(dollars in thousands)Real EstateBusiness
Assets		Other
Commercial real estate$16,783$—$—
Commercial and industrial———
Commercial construction4,576——
Business banking———
Consumer real estate———
Total$21,359$—$—
December 31, 2023
Type of Collateral
(dollars in thousands)Real EstateBusiness
Assets		Other
Commercial real estate$5,940$—$—
Commercial and industrial———
Commercial construction4,576——
Business banking———
Consumer real estate———
Total$10,516$—$—
Schedule of Age Analysis of Past Due Loans Segregated by Class of Loans
The following tables present the age analysis of past due loans segregated by class of loans as of the dates presented:
March 31, 2024
(dollars in thousands)Current30-59 Days
Past Due		60-89 Days
Past Due		NonaccrualTotal Past
Due Loans		Total Loans
Commercial real estate$2,682,629 $— $— $17,153 $17,153 $2,699,782 
Commercial and industrial1,399,799 2,109 7,997 612 10,718 1,410,517 
Commercial construction342,415 — — 4,960 4,960 347,375 
Business banking1,297,451 5,487 310 3,907 9,704 1,307,155 
Consumer real estate1,769,518 6,204 880 6,371 13,455 1,782,973 
Other consumer107,615 219 192 206 617 108,232 
Total$7,599,427 $14,019 $9,379 $33,209 $56,607 $7,656,034 

December 31, 2023
(dollars in thousands)Current30-59 Days
Past Due		60-89 Days
Past Due		NonaccrualTotal Past
Due Loans		Total Loans
Commercial real estate$2,649,412 $— $3,403 $6,320 $9,723 $2,659,135 
Commercial and industrial1,435,301 4 — 878 882 1,436,183 
Commercial construction345,623 — — 4,960 4,960 350,583 
Business banking1,351,048 3,525 2,045 4,147 9,717 1,360,765 
Consumer real estate1,719,751 3,352 2,363 6,312 12,027 1,731,778 
Other consumer114,138 366 63 330 759 114,897 
Total$7,615,273 $7,247 $7,874 $22,947 $38,068 $7,653,341 
Schedule of Allowance for Credit Loss
The following tables present activity in the ACL for the periods presented:
Three Months Ended March 31, 2024
(dollars in thousands)Commercial
Real Estate		Commercial and
Industrial		Commercial
Construction		Business BankingConsumer
Real Estate		Other
Consumer		Total Loans
Allowance for credit losses on loans:
Balance at beginning of period$37,886 $34,538 $5,382 $12,858 $14,663 $2,639 $107,966 
Provision for credit losses on loans(1)
2,838 680 (233)(995)859 276 3,425 
Charge-offs(5,205)(1,128)— (98)(139)(369)(6,939)
Recoveries93 117 — 33 27 80 350 
Net Charge-offs(5,112)(1,011)— (65)(112)(289)(6,589)
Balance at End of Period$35,612 $34,207 $5,149 $11,798 $15,410 $2,626 $104,802 
(1) Excludes the provision for credits losses for unfunded commitments.
Three Months Ended March 31, 2023
(dollars in thousands)Commercial
Real Estate		Commercial and
Industrial		Commercial
Construction		Business BankingConsumer
Real Estate		Other
Consumer		Total Loans
Allowance for credit losses on loans:
Balance at beginning of period$41,428 $25,710 $6,264 $12,547 $12,105 $3,286 $101,340 
Impact of ASU 2022-02— 75 215 251 278 (251)568 
Provision for credit losses on loans(1)
(1,011)(476)412 1,497 488 180 1,090 
Charge-offs— (3,412)— (652)(77)(318)(4,459)
Recoveries9 9,400 2 37 61 65 9,574 
Net Recoveries/(Charge-offs)9 5,988 2 (615)(16)(253)5,115 
Balance at End of Period$40,426 $31,297 $6,893 $13,680 $12,855 $2,962 $108,113 
(1) Excludes the provision for credits losses for unfunded commitments.