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Allowance for Credit Losses (ACL) (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of changes in allowance for loan losses

The following table presents a disaggregated analysis of activity in the allowance for credit losses as follows:


	Residential		Residential				Residential		Other								CRE Owner		Non-Owner
(Dollars in thousands)	Mortgage Sr.		Mortgage Jr.		HELOC		Construction		C&D		Consumer		Multifamily		Municipal		Occupied		Occupied CRE		C & I		Total
Three Months Ended March 31, 2023
Allowance for credit losses:
Balance at end of period December 31, 2022	$	72,188	$	405	$	14,886	$	8,974	$	45,410	$	22,767	$	3,684	$	849	$	58,083	$	78,485	$	50,713	$	356,444
Charge-offs		(2)		—		(39)		—		—		(2,729)		—		—		—		(51)		(1,806)		(4,627)
Recoveries		294		5		245		72		258		584		—		—		293		106		1,732		3,589
Net (charge offs) recoveries		292		5		206		72		258		(2,145)		—		—		293		55		(74)		(1,038)
Provision (recovery) ⁽¹⁾		4,871		(61)		(774)		130		9,401		2,697		1,823		30		(835)		3,933		(5,976)		15,239
Balance at end of period March 31, 2023	$	77,351	$	349	$	14,318	$	9,176	$	55,069	$	23,319	$	5,507	$	879	$	57,541	$	82,473	$	44,663	$	370,645

Allowance for credit losses:
Quantitative allowance
Collectively evaluated	$	77,982	$	350	$	12,229	$	8,994	$	49,865	$	23,319	$	5,369	$	731	$	49,297	$	78,013	$	35,355	$	341,504
Individually evaluated		197		—		2,285		—		155		—		—		—		6,812		2,721		4,612		16,782
Total quantitative allowance		78,179		350		14,514		8,994		50,020		23,319		5,369		731		56,109		80,734		39,967		358,286
Qualitative allowance		(828)		(1)		(196)		182		5,049		—		138		148		1,432		1,739		4,696		12,359
Balance at end of period March 31, 2023	$	77,351	$	349	$	14,318	$	9,176	$	55,069	$	23,319	$	5,507	$	879	$	57,541	$	82,473	$	44,663	$	370,645

Three Months Ended March 31, 2022
Allowance for credit losses:
Balance at end of period December 31, 2021	$	47,036	$	611	$	13,325	$	4,997	$	37,593	$	23,149	$	4,921	$	565	$	61,794	$	79,649	$	28,167	$	301,807
Initial Allowance for PCD loans acquired during period		84		—		—		—		86		—		—		—		1,479		—		7,569		9,218
Initial Allowance for Non PCD loans acquired during period		352		26		132		2		1,887		51		426		—		2,519		2,697		5,605		13,697
Charge-offs		(58)		(19)		(218)		—		(4)		(2,661)		—		—		(371)		—		(2,159)		(5,490)
Recoveries		394		55		257		3		234		532		—		—		314		69		1,309		3,167
Net (charge offs) recoveries		336		36		39		3		230		(2,129)		—		—		(57)		69		(850)		(2,323)
Provision (recovery) ⁽¹⁾		(1,806)		(87)		175		614		(14,438)		828		(1,444)		42		(16,641)		13,945		(3,191)		(22,003)
Balance at end of period March 31, 2022	$	46,002	$	586	$	13,671	$	5,616	$	25,358	$	21,899	$	3,903	$	607	$	49,094	$	96,360	$	37,300	$	300,396

Allowance for credit losses:
Quantitative allowance
Collectively evaluated	$	45,805	$	586	$	12,301	$	5,616	$	24,770	$	21,899	$	3,903	$	607	$	45,302	$	95,051	$	32,476	$	288,316
Individually evaluated		168		—		1,357		—		588		—		—		—		2,960		—		3,358		8,431
Total quantitative allowance		45,973		586		13,658		5,616		25,358		21,899		3,903		607		48,262		95,051		35,834		296,747
Qualitative allowance		29		—		13		—		—		—		—		—		832		1,309		1,466		3,649
Balance at end of period March 31, 2022	$	46,002	$	586	$	13,671	$	5,616	$	25,358	$	21,899	$	3,903	$	607	$	49,094	$	96,360	$	37,300	$	300,396

(1)

Provision for credit losses for unfunded commitments of $17.9 million was recorded during the first quarter of 2023, compared to a negative provision (recovery) for credit losses of ($142,000), net of the provision for $3.4 million recorded for the unfunded commitments acquired from ACBI, recorded during the first quarter of 2022 that is not included in the above table.