Allowance for Credit Losses (ACL) (Tables)

3 Months Ended

Mar. 31, 2024

Allowance for Credit Losses (ACL)

Schedule of changes in allowance for loan losses

The following table presents a disaggregated analysis of activity in the allowance for credit losses for the three months ended March 31, 2024 and 2023, as follows:

	Residential		Residential				Residential		Comm Constr.								CRE Owner		Non-Owner
(Dollars in thousands)	Mortgage Sr.		Mortgage Jr.		HELOC		Construction		& Dev.		Consumer		Multifamily		Municipal		Occupied		Occupied CRE		C & I		Total
Three Months Ended March 31, 2024
Allowance for credit losses:
Balance at end of period December 31, 2023	$	78,052	$	745	$	10,942	$	5,024	$	65,772	$	23,331	$	13,766	$	900	$	71,580	$	137,055	$	49,406	$	456,573
Charge-offs		(343)		—		(110)		(304)		(1,475)		(2,497)		—		—		—		(71)		(3,140)		(7,940)
Recoveries		123		39		292		7		1,007		1,125		25		—		103		10		2,530		5,261
Net (charge offs) recoveries		(220)		39		182		(297)		(468)		(1,372)		25		—		103		(61)		(610)		(2,679)
Provision (recovery) (1)		9,652		446		600		(175)		(4,444)		1,394		3,221		(24)		914		(2,296)		6,472		15,760
Balance at end of period March 31, 2024	$	87,484	$	1,230	$	11,724	$	4,552	$	60,860	$	23,353	$	17,012	$	876	$	72,597	$	134,698	$	55,268	$	469,654
Three Months Ended March 31, 2023
Allowance for credit losses:
Balance at end of period December 31, 2023	$	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

(1) A negative provision (recovery) for credit losses for unfunded commitments of ($3.1) million was recorded during the first quarter of 2024, compared to $17.9 million recorded during the first quarter of 2023, that is not included in the above table.