Loans

9 Months Ended

Sep. 30, 2025

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

Loans

The period end loan composition was as follows:


(in thousands)	Sep 30, 2025		Dec 31, 2024


Commercial and industrial	$	11,567,651	$	10,573,741
Commercial real estate — owner occupied	1,149,939		1,143,741
Commercial and business lending	12,717,590		11,717,483
Commercial real estate — investor	5,369,441		5,227,975
Real estate construction	1,958,766		1,982,632
Commercial real estate lending	7,328,207		7,210,607
Total commercial	20,045,797		18,928,090
Residential mortgage	6,858,285		7,047,541
Auto finance	3,041,644		2,810,220
Home equity	698,112		664,252
Other consumer	308,126		318,483
Total consumer	10,906,167		10,840,496
Total loans	$	30,951,964	$	29,768,586

Accrued interest receivable on loans totaled $125.1 million at September 30, 2025 and $126.1 million at December 31, 2024, and is included in interest receivable on the consolidated balance sheets. The amount of accrued interest reversed was $0.5 million for the three months ended September 30, 2025 and $1.7 million for the nine months ended September 30, 2025, compared to $0.2 million for the three months ended September 30, 2024 and $1.9 million for the nine months ended September 30, 2024.

The following table presents loans by credit quality indicator by origination year at September 30, 2025:


					Term Loans Amortized Cost Basis by Origination Year(a)
(in thousands)	Rev Loans Converted to Term(a)		Rev Loans Amortized Cost Basis		YTD 2025		2024		2023		2022		2021		Prior		Total














Commercial and industrial:
Risk rating:
Pass	$	29	$	2,013,497	$	2,865,198	$	2,358,248	$	1,201,594	$	1,373,375	$	721,128	$	546,192	$	11,079,231
Special mention	—		14,967		3,029		14,700		14,779		6,768		5,231		363		59,838
Substandard	1,006		95,795		23,195		64,191		18,737		124,041		87,717		2,105		415,780
Nonaccrual	1,564		—		533		7,718		33		4,518		—		—		12,802
Commercial and industrial	$	2,600	$	2,124,259	$	2,891,956	$	2,444,857	$	1,235,142	$	1,508,702	$	814,076	$	548,660	$	11,567,651
Commercial real estate - owner occupied:
Risk rating:
Pass	$	—	$	2,848	$	80,406	$	226,814	$	147,415	$	178,379	$	176,037	$	237,057	$	1,048,958
Special mention	—		10,165		—		12,803		11,530		—		1,199		1,829		37,525
Substandard	—		633		7,086		10,004		10,163		1,385		19,260		14,722		63,253
Nonaccrual	—		—		203		—		—		—		—		—		203
Commercial real estate - owner occupied	$	—	$	13,646	$	87,696	$	249,621	$	169,108	$	179,764	$	196,496	$	253,608	$	1,149,939
Commercial and business lending:
Risk rating:
Pass	$	29	$	2,016,345	$	2,945,604	$	2,585,062	$	1,349,009	$	1,551,754	$	897,165	$	783,250	$	12,128,189
Special mention	—		25,132		3,029		27,503		26,309		6,768		6,430		2,192		97,363
Substandard	1,006		96,428		30,281		74,195		28,900		125,425		106,977		16,827		479,034
Nonaccrual	1,564		—		736		7,718		33		4,518		—		—		13,006
Commercial and business lending	$	2,600	$	2,137,905	$	2,979,651	$	2,694,478	$	1,404,250	$	1,688,465	$	1,010,572	$	802,268	$	12,717,590
Commercial real estate - investor:
Risk rating:
Pass	$	7,185	$	166,555	$	1,391,645	$	1,012,499	$	536,025	$	806,485	$	528,193	$	584,273	$	5,025,674
Special mention	—		—		7,234		20,746		38,240		58,717		10,698		5,059		140,695
Substandard	—		—		17,817		36,418		13,183		84,499		42,697		1,125		195,739
Nonaccrual	—		—		—		—		—		7,333		—		—		7,333
Commercial real estate - investor	$	7,185	$	166,555	$	1,416,696	$	1,069,663	$	587,448	$	957,034	$	581,589	$	590,457	$	5,369,441
Real estate construction:
Risk rating:
Pass	$	—	$	27,572	$	177,783	$	583,971	$	283,923	$	257,928	$	3,107	$	6,835	$	1,341,119
Special mention	—		—		—		—		12,887		157,523		—		—		170,410
Substandard	—		—		122,869		39,788		47,807		236,628		—		—		447,092
Nonaccrual	—		—		—		—		—		—		—		145		145
Real estate construction	$	—	$	27,572	$	300,652	$	623,758	$	344,617	$	652,079	$	3,107	$	6,979	$	1,958,766
Commercial real estate lending:
Risk rating:
Pass	$	7,185	$	194,127	$	1,569,428	$	1,596,470	$	819,947	$	1,064,413	$	531,300	$	591,107	$	6,366,793
Special mention	—		—		7,234		20,746		51,127		216,240		10,698		5,059		311,105
Substandard	—		—		140,685		76,206		60,991		321,127		42,697		1,125		642,831
Nonaccrual	—		—		—		—		—		7,333		—		145		7,478
Commercial real estate lending	$	7,185	$	194,127	$	1,717,348	$	1,693,422	$	932,065	$	1,609,114	$	584,696	$	597,436	$	7,328,207
Total commercial:
Risk rating:
Pass	$	7,214	$	2,210,472	$	4,515,033	$	4,181,532	$	2,168,956	$	2,616,167	$	1,428,465	$	1,374,357	$	18,494,982
Special mention	—		25,132		10,263		48,249		77,436		223,008		17,128		7,251		408,467
Substandard	1,006		96,428		170,967		150,401		89,890		446,553		149,675		17,951		1,121,865
Nonaccrual	1,564		—		736		7,718		33		11,851		—		145		20,484
Total commercial	$	9,785	$	2,332,032	$	4,696,999	$	4,387,900	$	2,336,315	$	3,297,579	$	1,595,268	$	1,399,704	$	20,045,797


					Term Loans Amortized Cost Basis by Origination Year(a)
(in thousands)	Rev Loans Converted to Term(a)		Rev Loans Amortized Cost Basis		YTD 2025		2024		2023		2022		2021		Prior		Total
Residential mortgage:
Risk rating:
Pass	$	—	$	—	$	169,527	$	225,176	$	504,675	$	1,520,445	$	1,528,394	$	2,840,216	$	6,788,432
Special mention	—		—		16		—		—		—		—		10		26
Substandard	—		—		—		—		300		130		304		—		733
Nonaccrual	—		—		2,681		2,493		4,863		13,081		11,311		34,664		69,093
Residential mortgage	$	—	$	—	$	172,224	$	227,669	$	509,838	$	1,533,655	$	1,540,009	$	2,874,890	$	6,858,285
Auto finance:
Risk rating:
Pass	$	—	$	—	$	1,001,874	$	931,980	$	620,136	$	446,328	$	31,072	$	20	$	3,031,410
Special mention	—		—		158		432		628		712		86		—		2,016

Nonaccrual	—		—		276		1,215		2,842		3,483		403		—		8,218
Auto finance	$	—	$	—	$	1,002,308	$	933,627	$	623,606	$	450,523	$	31,561	$	20	$	3,041,644
Home equity:
Risk rating:
Pass	$	9,035	$	608,517	$	1,147	$	1,710	$	2,522	$	21,978	$	4,957	$	48,776	$	689,607
Special mention	61		—		—		—		64		—		—		141		206

Nonaccrual	1,143		109		—		214		199		1,016		419		6,342		8,299
Home equity	$	10,239	$	608,626	$	1,147	$	1,924	$	2,786	$	22,994	$	5,375	$	55,260	$	698,112
Other consumer:
Risk rating:
Pass	$	614	$	238,860	$	12,020	$	4,712	$	2,372	$	1,333	$	385	$	45,010	$	304,692
Special mention	2		1,125		—		30		4		2		—		2		1,162
Substandard	—		2,186		—		—		—		—		—		—		2,186
Nonaccrual	2		44		10		18		6		4		2		2		85
Other consumer	$	617	$	242,216	$	12,029	$	4,759	$	2,382	$	1,339	$	387	$	45,014	$	308,126
Total consumer:
Risk rating:
Pass	$	9,649	$	847,377	$	1,184,568	$	1,163,578	$	1,129,705	$	1,990,084	$	1,564,808	$	2,934,022	$	10,814,142
Special mention	63		1,125		174		462		696		714		86		153		3,410
Substandard	—		2,186		—		—		300		130		304		—		2,920
Nonaccrual	1,145		154		2,966		3,939		7,910		17,584		12,135		41,008		85,696
Total consumer	$	10,856	$	850,842	$	1,187,708	$	1,167,979	$	1,138,611	$	2,008,511	$	1,577,332	$	2,975,183	$	10,906,167
Total loans:
Risk rating:
Pass	$	16,863	$	3,057,849	$	5,699,600	$	5,345,110	$	3,298,661	$	4,606,252	$	2,993,273	$	4,308,379	$	29,309,124
Special mention	63		26,257		10,437		48,712		78,131		223,722		17,214		7,404		411,877
Substandard	1,006		98,614		170,967		150,401		90,190		446,683		149,978		17,951		1,124,785
Nonaccrual	2,709		154		3,703		11,657		7,944		29,435		12,135		41,153		106,179
Total loans	$	20,641	$	3,182,874	$	5,884,707	$	5,555,879	$	3,474,927	$	5,306,090	$	3,172,601	$	4,374,887	$	30,951,964

(a) Revolving loans converted to term loans are those converted during the reporting period and are also reported in their year of origination.

The following table presents loans by credit quality indicator by origination year at December 31, 2024:


					Term Loans Amortized Cost Basis by Origination Year(a)
(in thousands)	Rev Loans Converted to Term(a)		Rev Loans Amortized Cost Basis		2024		2023		2022		2021		2020		Prior		Total







Commercial and industrial:
Risk rating:
Pass	$	248	$	1,841,790	$	2,656,953	$	1,514,277	$	2,254,758	$	1,080,180	$	263,286	$	510,301	$	10,121,545
Special mention	—		48,829		4,037		4,810		63,390		6,984		515		48		128,613
Substandard	2,015		40,240		90,240		9,677		34,730		126,134		3,347		131		304,500
Nonaccrual	42		—		772		4,468		12,988		855		—		—		19,084
Commercial and industrial	$	2,306	$	1,930,860	$	2,752,002	$	1,533,233	$	2,365,866	$	1,214,154	$	267,148	$	510,480	$	10,573,741
Commercial real estate - owner occupied:
Risk rating:
Pass	$	—	$	13,760	$	228,913	$	175,059	$	180,132	$	214,237	$	114,064	$	181,982	$	1,108,147
Special mention	—		—		—		497		—		8,619		—		2,803		11,920
Substandard	—		943		2,532		10,009		1,492		701		3,371		3,125		22,173
Nonaccrual	—		—		—		1,501		—		—		—		—		1,501
Commercial real estate - owner occupied	$	—	$	14,703	$	231,446	$	187,066	$	181,625	$	223,557	$	117,435	$	187,911	$	1,143,741
Commercial and business lending:
Risk rating:
Pass	$	248	$	1,855,550	$	2,885,866	$	1,689,336	$	2,434,891	$	1,294,416	$	377,350	$	692,283	$	11,229,693
Special mention	—		48,829		4,037		5,307		63,390		15,604		515		2,852		140,532
Substandard	2,015		41,183		92,772		19,686		36,222		126,835		6,719		3,255		326,673
Nonaccrual	42		—		772		5,969		12,988		855		—		—		20,585
Commercial and business lending	$	2,306	$	1,945,563	$	2,983,447	$	1,720,298	$	2,547,491	$	1,437,710	$	384,583	$	698,390	$	11,717,483
Commercial real estate - investor:
Risk rating:
Pass	$	—	$	190,451	$	1,334,740	$	725,652	$	1,179,867	$	723,994	$	321,084	$	363,288	$	4,839,076
Special mention	—		—		69,014		6,385		30,672		12,312		6,870		10,366		135,618
Substandard	—		—		69,385		53,022		93,151		10,724		384		9,910		236,576
Nonaccrual	—		—		11,949		—		—		4,757		—		—		16,705
Commercial real estate - investor	$	—	$	190,451	$	1,485,088	$	785,058	$	1,303,690	$	751,786	$	328,338	$	383,563	$	5,227,975
Real estate construction:
Risk rating:
Pass	$	—	$	30,090	$	278,754	$	390,845	$	807,347	$	142,137	$	25,654	$	7,260	$	1,682,086
Special mention	—		—		19,419		—		96,442		—		—		—		115,862
Substandard	—		—		28,241		6,000		105,660		44,754		—		—		184,654
Nonaccrual	—		—		—		—		—		—		—		30		30
Real estate construction	$	—	$	30,090	$	326,414	$	396,845	$	1,009,450	$	186,890	$	25,654	$	7,289	$	1,982,632
Commercial real estate lending:
Risk rating:
Pass	$	—	$	220,541	$	1,613,494	$	1,116,496	$	1,987,215	$	866,130	$	346,738	$	370,548	$	6,521,163
Special mention	—		—		88,433		6,385		127,114		12,312		6,870		10,366		251,480
Substandard	—		—		97,626		59,022		198,811		55,477		384		9,910		421,230
Nonaccrual	—		—		11,949		—		—		4,757		—		30		16,735
Commercial real estate lending	$	—	$	220,541	$	1,811,502	$	1,181,903	$	2,313,140	$	938,677	$	353,992	$	390,853	$	7,210,607


					Term Loans Amortized Cost Basis by Origination Year(a)
(in thousands)	Rev Loans Converted to Term(a)		Rev Loans Amortized Cost Basis		2024		2023		2022		2021		2020		Prior		Total
Total commercial:
Risk rating:
Pass	$	248	$	2,076,092	$	4,499,360	$	2,805,832	$	4,422,105	$	2,160,547	$	724,088	$	1,062,831	$	17,750,855
Special mention	—		48,829		92,469		11,692		190,504		27,916		7,385		13,217		392,012
Substandard	2,015		41,183		190,399		78,708		235,033		182,313		7,103		13,165		747,903
Nonaccrual	42		—		12,721		5,969		12,988		5,612		—		30		37,320
Total commercial	$	2,306	$	2,166,104	$	4,794,949	$	2,902,201	$	4,860,631	$	2,376,387	$	738,576	$	1,089,243	$	18,928,090
Residential mortgage:
Risk rating:
Pass	$	—	$	—	$	172,607	$	507,186	$	1,579,182	$	1,643,341	$	1,195,752	$	1,878,251	$	6,976,319
Special mention	—		—		—		—		—		—		—		162		162
Substandard	—		—		594		327		77		—		—		24		1,022
Nonaccrual	—		—		2,338		2,134		11,420		10,141		8,297		35,708		70,038
Residential mortgage	$	—	$	—	$	175,539	$	509,647	$	1,590,679	$	1,653,482	$	1,204,049	$	1,914,144	$	7,047,541
Auto finance:
Risk rating:
Pass	$	—	$	—	$	1,241,609	$	858,924	$	650,880	$	48,999	$	67	$	77	$	2,800,555
Special mention	—		—		332		704		1,048		178		—		—		2,262

Nonaccrual	—		—		491		2,162		4,284		466		—		—		7,402
Auto finance	$	—	$	—	$	1,242,431	$	861,790	$	656,212	$	49,643	$	67	$	77	$	2,810,220
Home equity:
Risk rating:
Pass	$	8,764	$	569,866	$	411	$	1,684	$	25,372	$	5,289	$	1,965	$	50,841	$	655,429
Special mention	127		81		41		—		—		—		—		323		445

Nonaccrual	1,677		104		15		103		933		231		215		6,778		8,378
Home equity	$	10,568	$	570,051	$	467	$	1,788	$	26,305	$	5,520	$	2,180	$	57,941	$	664,252
Other consumer:
Risk rating:
Pass	$	308	$	241,230	$	14,343	$	4,808	$	2,475	$	1,440	$	584	$	49,886	$	314,767
Special mention	—		1,125		8		—		36		7		—		—		1,176
Substandard	—		2,418		—		—		—		—		—		—		2,418
Nonaccrual	2		81		5		21		7		4		—		4		122
Other consumer	$	310	$	244,855	$	14,356	$	4,829	$	2,518	$	1,451	$	584	$	49,891	$	318,483
Total consumer:
Risk rating:
Pass	$	9,071	$	811,096	$	1,428,969	$	1,372,603	$	2,257,910	$	1,699,069	$	1,198,368	$	1,979,055	$	10,747,070
Special mention	127		1,207		381		704		1,083		185		—		484		4,045
Substandard	—		2,418		594		327		77		—		—		24		3,440
Nonaccrual	1,679		185		2,849		4,420		16,644		10,842		8,512		42,490		85,941
Total consumer	$	10,878	$	814,906	$	1,432,794	$	1,378,053	$	2,275,714	$	1,710,096	$	1,206,880	$	2,022,053	$	10,840,496
Total loans:
Risk rating:
Pass	$	9,320	$	2,887,188	$	5,928,329	$	4,178,435	$	6,680,015	$	3,859,616	$	1,922,456	$	3,041,886	$	28,497,925
Special mention	127		50,036		92,851		12,396		191,587		28,101		7,385		13,701		396,057
Substandard	2,015		43,602		190,993		79,035		235,110		182,313		7,103		13,189		751,344
Nonaccrual	1,721		185		15,570		10,389		29,632		16,453		8,512		42,519		123,260
Total loans	$	13,183	$	2,981,010	$	6,227,743	$	4,280,254	$	7,136,344	$	4,086,483	$	1,945,455	$	3,111,296	$	29,768,586

(a) Revolving loans converted to term loans are those converted during the reporting period and are also reported in their year of origination.

The following table presents gross charge offs by origination year for the nine months ended September 30, 2025:


			Gross Charge Offs by Origination Year
(in thousands)	Rev Loans Amortized Cost Basis		2025		2024		2023		2022		2021		Prior		Total
Commercial and industrial	$	4,015	$	—	$	580	$	3,513	$	3,799	$	379	$	—	$	12,286
Commercial real estate-owner occupied	—		—		—		—		—		—		—		—
Commercial and business lending	4,015		—		580		3,513		3,799		379		—		12,286
Commercial real estate-investor	—		—		8,356		184		12,667		—		—		21,206
Real estate construction	—		—		—		—		—		—		—		—
Commercial real estate lending	—		—		8,356		184		12,667		—		—		21,206
Total commercial	4,015		—		8,936		3,697		16,465		379		—		33,492
Residential mortgage	—		—		53		187		300		74		268		882
Auto finance	—		67		1,159		2,091		2,520		280		—		6,118
Home equity	—		—		62		26		5		5		65		164
Other consumer	6,210		8		48		59		58		224		54		6,661
Total consumer	6,210		76		1,322		2,363		2,882		584		387		13,825
Total gross charge offs	$	10,225	$	76	$	10,258	$	6,060	$	19,348	$	963	$	387	$	47,317

The following table presents gross charge offs by origination year for the year ended December 31, 2024:


			Gross Charge Offs by Origination Year
(in thousands)	Rev Loans Amortized Cost Basis		2024		2023		2022		2021		2020		Prior		Total
Commercial and industrial	$	4,433	$	128	$	11,484	$	8,510	$	22,959	$	3	$	—	$	47,517
Commercial real estate-owner occupied	—		—		—		—		—		—		3		3
Commercial and business lending	4,433		128		11,484		8,510		22,959		3		3		47,520
Commercial real estate-investor	—		6,617		1		—		4,569		—		—		11,187
Real estate construction	—		—		—		—		—		—		—		—
Commercial real estate lending	—		6,617		1		—		4,569		—		—		11,187
Total commercial	4,433		6,745		11,485		8,510		27,528		3		3		58,707
Residential mortgage	—		—		134		125		101		153		515		1,029
Auto finance	—		418		2,982		5,582		560		—		—		9,541
Home equity	93		—		—		9		19		10		85		216
Other consumer	6,555		20		96		75		75		42		59		6,922
Total consumer	6,649		438		3,212		5,790		755		205		659		17,709
Total gross charge offs	$	11,082	$	7,183	$	14,697	$	14,300	$	28,283	$	209	$	662	$	76,415

Factors that are important to managing overall credit quality are sound loan underwriting and administration, systematic monitoring of existing loans and commitments, effective loan review on an ongoing basis, early identification of potential problems, and appropriate policies for ACLL, nonaccrual loans, and charge offs.

For commercial loans, management has determined the pass credit quality indicator to include credits exhibiting acceptable financial statements, cash flow, and leverage. If any risk exists, it is mitigated by the loan structure, collateral, monitoring, or control. For consumer loans, performing loans include credits performing in accordance with the original contractual terms.

Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Special mention credits have potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the credit or in the credit position at some future date. Accruing loan modifications could be pass or special mention, depending on the risk rating on the loan. Substandard loans are considered inadequately protected by the current sound worth and paying capacity of the obligor or the collateral pledged, if any. These loans have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt, and are characterized by the distinct possibility the Corporation will sustain some loss if the deficiencies are not corrected. Management has determined commercial loan relationships over $0.5 million in nonaccrual status meet the criteria to be individually evaluated. Commercial loans classified as special mention, substandard, and nonaccrual are reviewed at a minimum on a quarterly basis, while pass credits, which are performing rated credits, are generally reviewed on an annual basis or more frequently if the loan renewal is less than one year or if otherwise warranted.

The recorded investment of consumer loans secured by residential real estate properties for which foreclosure proceedings are in process totaled $23.3 million and $22.9 million at September 30, 2025 and December 31, 2024, respectively.

The following table presents loans by past due status at September 30, 2025:


	Accruing
(in thousands)	Current		30-59 Days Past Due		60-89 Days Past Due		90+ Days Past Due		Nonaccrual(a)(b)		Total


Commercial and industrial	$	11,553,383	$	517	$	554	$	395	$	12,802	$	11,567,651
Commercial real estate - owner occupied	1,149,736		—		—		—		203		1,149,939
Commercial and business lending	12,703,119		517		554		395		13,006		12,717,590
Commercial real estate - investor	5,347,918		13,168		1,022		—		7,333		5,369,441
Real estate construction	1,958,600		21		—		—		145		1,958,766
Commercial real estate lending	7,306,518		13,189		1,022		—		7,478		7,328,207
Total commercial	20,009,637		13,706		1,576		395		20,484		20,045,797
Residential mortgage	6,776,508		12,667		16		—		69,093		6,858,285
Auto finance	3,019,413		11,997		2,016		—		8,218		3,041,644
Home equity	685,548		4,059		206		—		8,299		698,112
Other consumer	303,016		1,540		1,188		2,297		85		308,126
Total consumer	10,784,484		30,264		3,426		2,297		85,696		10,906,167
Total loans	$	30,794,122	$	43,970	$	5,002	$	2,692	$	106,179	$	30,951,964

(a) Of the total nonaccrual loans, $38.0 million, or 36%, were current with respect to payment at September 30, 2025.

(b) No interest income was recognized on nonaccrual loans for the three and nine months ended September 30, 2025. In addition, there were $14.8 million of nonaccrual loans for which there was no related ACLL at September 30, 2025.

The following table presents loans by past due status at December 31, 2024:


	Accruing
(in thousands)	Current		30-59 Days Past Due		60-89 Days Past Due		90+ Days Past Due		Nonaccrual(a)(b)		Total


Commercial and industrial	$	10,552,756	$	899	$	361	$	642	$	19,084	$	10,573,741
Commercial real estate - owner occupied	1,140,607		1,533		101		—		1,501		1,143,741
Commercial and business lending	11,693,363		2,432		462		642		20,585		11,717,483
Commercial real estate - investor	5,174,879		5,117		31,274		—		16,705		5,227,975
Real estate construction	1,982,581		21		—		—		30		1,982,632
Commercial real estate lending	7,157,460		5,138		31,274		—		16,735		7,210,607
Total commercial	18,850,823		7,570		31,736		642		37,320		18,928,090
Residential mortgage	6,962,610		14,731		162		—		70,038		7,047,541
Auto finance	2,787,967		12,588		2,262		—		7,402		2,810,220
Home equity	651,248		4,181		445		—		8,378		664,252
Other consumer	312,687		1,892		1,236		2,547		122		318,483
Total consumer	10,714,512		33,391		4,105		2,547		85,941		10,840,496
Total loans	$	29,565,335	$	40,961	$	35,841	$	3,189	$	123,260	$	29,768,586

(a) Of the total nonaccrual loans, $52.4 million, or 42%, were current with respect to payment at December 31, 2024.

(b) No interest income was recognized on nonaccrual loans for the year ended December 31, 2024. In addition, there were $23.8 million of nonaccrual loans for which there was no related ACLL at December 31, 2024.

Loan Modifications

The following tables show the composition of loan modifications made to borrowers experiencing financial difficulty by the loan portfolio and type of concessions granted. Each of the types of concessions granted comprised less than 1% of their respective classes of loan portfolios at September 30, 2025 and September 30, 2024.


	Interest Rate Concession
	Amortized Cost
	Three Months Ended Sep 30,				Nine Months Ended Sep 30,
(in thousands)	2025		2024		2025		2024
Commercial and industrial	$	210	$	179	$	417	$	364
Residential mortgage	139		—		139		—
Auto finance	—		29		—		40

Other consumer	750		622		1,891		1,425
Total loans modified	$	1,098	$	830	$	2,448	$	1,828


	Term Extension
	Amortized Cost
	Three Months Ended Sep 30,				Nine Months Ended Sep 30,
(in thousands)	2025		2024		2025		2024

Residential mortgage	$	194	$	—	$	498	$	—


Total loans modified	$	194	$	—	$	498	$	—


	Combination - Interest Rate Concession and Term Extension
	Amortized Cost
	Three Months Ended Sep 30,				Nine Months Ended Sep 30,
(in thousands)	2025		2024		2025		2024

Residential mortgage	$	1,815	$	1,215	$	3,903	$	1,994
Home equity	75		163		168		192

Total loans modified	$	1,889	$	1,379	$	4,071	$	2,186

The following tables summarize, by loan portfolio, the financial effect of the Corporation's loan modifications on the modified loans.


	Interest Rate Concession
	Financial Effect, Weighted Average Contractual Interest Rate (Decrease) Increase(a)
	Three Months Ended Sep 30,				Nine Months Ended Sep 30,
Loan Type	2025		2024		2025		2024
Commercial and industrial	(23)	%	(19)	%	(24)	%	(18)	%
Residential mortgage	1	%	2	%	1	%	2	%
Auto finance	—	%	(8)	%	—	%	(8)	%
Home equity	(3)	%	(3)	%	(2)	%	(3)	%
Other consumer	(22)	%	(21)	%	(21)	%	(21)	%
Weighted average of total loans modified	(6)	%	(7)	%	(7)	%	(8)	%

(a) Some interest rate concessions may involve an increase in rate that was lower in comparison to prevailing market rates.

Term Extension

Financial Effect, Weighted Average Term Increase(a)

Three Months Ended Sep 30,

Nine Months Ended Sep 30,

Loan Type

2025

2024

2025

2024

Residential mortgage

122 months

105 months

138 months

116 months

Home equity

60 months

64 months

60 months

64 months

Weighted average of total loans modified

120 months

100 months

135 months

111 months

(a) During the three months ended September 30, 2025 and September 30, 2024, term extensions changed the weighted average term on modified loans from 294 to 414 months and 273 to 373 months, respectively. During the nine months ended September 30, 2025 and September 30, 2024, term extensions changed the weighted average term on modified loans from 281 to 416 months and 272 to 383 months, respectively.

The Corporation closely monitors the performance of loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table depicts the performance of loans that have been modified in the twelve months ended September 30, 2025:


	Payment Status (Amortized Cost Basis)
(in thousands)	Current		30-89 Days Past Due		90+ Days Past Due
Commercial and industrial	$	458	$	—	$	—
Residential mortgage	4,424		880		433

Home equity	221		—		—
Other consumer	2,220		—		—
Total loans modified	$	7,324	$	880	$	433

The following table depicts the performance of loans that have been modified in the twelve months ended September 30, 2024:


	Payment Status (Amortized Cost Basis)
(in thousands)	Current		30-89 Days Past Due
Commercial and industrial	$	424	$	—
Residential mortgage	1,462		568
Auto finance	22		21
Home equity	235		33
Other consumer	1,642		—
Total loans modified	$	3,783	$	622

The following table provides the amortized cost of loan modifications by loan portfolio and type of concession for loans that were modified in the previous twelve months and subsequently had a payment default during the nine months ended September 30, 2025:


	Amortized Cost of Loan Modifications that Subsequently Defaulted
(in thousands)	Interest Rate Concession		Term Extension		Combination Interest Rate Reduction and Term Extension


Home equity	$	—	$	—	$	48
Total loans modified	$	—	$	—	$	48

The following table provides the amortized cost of loan modifications by loan portfolio and type of concession that were modified in the previous twelve months had a payment default during the nine months ended September 30, 2024:


	Amortized Cost of Loan Modifications that Subsequently Defaulted
(in thousands)	Interest Rate Concession		Term Extension		Combination Interest Rate Concession and Term Extension

Auto finance	$	8	$	—	$	—
Home equity	—		—		132
Total loans modified	$	8	$	—	$	132

The nature and extent of the impairment of modified loans, including those which have experienced a subsequent payment default, are considered in the determination of an appropriate level of the ACLL.

Allowance for Credit Losses on Loans

The ACLL is comprised of the allowance for loan losses and the allowance for unfunded commitments. The level of the ACLL represents management’s estimate of an amount appropriate to provide for expected lifetime credit losses in the loan portfolio at the balance sheet date. The expected lifetime credit losses are the product of multiplying the Corporation's estimates of probability of default, loss given default, and the individual loan level exposure at default on an undiscounted basis. A main factor in the determination of the ACLL is the economic forecast. The forecast the Corporation used for September 30, 2025 was the Moody's baseline scenario from August 2025, which was reviewed against the September 2025 baseline scenario with no material updates made, over a two year reasonable and supportable period with straight-line reversion to the historical losses over the second year of the period. The allowance for unfunded commitments is maintained at a level believed by management to be sufficient to absorb expected lifetime losses related to unfunded credit facilities (including unfunded loan commitments and letters of credit). See Note 11 for additional information on the change in the allowance for unfunded commitments.

The following table presents a summary of the changes in the ACLL by portfolio segment for the nine months ended September 30, 2025:


(in thousands)	Dec 31, 2024		Charge offs		Recoveries		Net (Charge offs) Recoveries		Provision for Credit Losses		Sep 30, 2025		ACLL / Loans
Allowance for loan losses


Commercial and industrial	$	136,596	$	(12,286)	$	4,504	$	(7,782)	$	32,261	$	161,075
Commercial real estate — owner occupied	9,417		—		—		—		1,872		11,289
Commercial and business lending	146,013		(12,286)		4,504		(7,782)		34,133		172,364
Commercial real estate — investor	71,547		(21,206)		2,891		(18,315)		8,540		61,772
Real estate construction	51,499		—		152		152		(988)		50,663
Commercial real estate lending	123,046		(21,206)		3,043		(18,163)		7,551		112,435
Total commercial	269,060		(33,492)		7,547		(25,945)		41,685		284,799
Residential mortgage	32,576		(882)		547		(335)		2,575		34,815
Auto finance	28,467		(6,118)		2,405		(3,713)		2,637		27,391
Home equity	16,620		(164)		746		582		(1,123)		16,078
Other consumer	16,824		(6,661)		1,368		(5,293)		3,727		15,258
Total consumer	94,486		(13,825)		5,066		(8,759)		7,815		93,542
Total loans	$	363,545	$	(47,317)	$	12,613	$	(34,704)	$	49,500	$	378,341
Allowance for unfunded commitments


Commercial and industrial	$	14,456	$	—	$	—	$	—	$	2,303	$	16,759
Commercial real estate — owner occupied	151		—		—		—		3		154
Commercial and business lending	14,607		—		—		—		2,305		16,912
Commercial real estate — investor	578		—		—		—		104		682
Real estate construction	19,591		—		—		—		(4,930)		14,661
Commercial real estate lending	20,169		—		—		—		(4,826)		15,343
Total commercial	34,776		—		—		—		(2,521)		32,255


Home equity	2,465		—		—		—		(3)		2,461
Other consumer	1,535		—		—		—		24		1,559
Total consumer	4,000		—		—		—		21		4,021
Total loans	$	38,776	$	—	$	—	$	—	$	(2,500)	$	36,276
Allowance for credit losses on loans


Commercial and industrial	$	151,052	$	(12,286)	$	4,504	$	(7,782)	$	34,564	$	177,834	1.54	%
Commercial real estate — owner occupied	9,568		—		—		—		1,875		11,443		1.00	%
Commercial and business lending	160,620		(12,286)		4,504		(7,782)		36,438		189,277		1.49	%
Commercial real estate — investor	72,125		(21,206)		2,891		(18,315)		8,644		62,454		1.16	%
Real estate construction	71,090		—		152		152		(5,919)		65,324		3.33	%
Commercial real estate lending	143,215		(21,206)		3,043		(18,163)		2,725		127,778		1.74	%
Total commercial	303,835		(33,492)		7,547		(25,945)		39,164		317,054		1.58	%
Residential mortgage	32,576		(882)		547		(335)		2,575		34,815		0.51	%
Auto finance	28,467		(6,118)		2,405		(3,713)		2,637		27,391		0.90	%
Home equity	19,085		(164)		746		582		(1,127)		18,540		2.66	%
Other consumer	18,359		(6,661)		1,368		(5,293)		3,751		16,817		5.46	%
Total consumer	98,486		(13,825)		5,066		(8,759)		7,836		97,563		0.89	%
Total loans	$	402,322	$	(47,317)	$	12,613	$	(34,704)	$	47,000	$	414,618	1.34	%

The following table presents a summary of the changes in the ACLL by portfolio segment for the year ended December 31, 2024:


(in thousands)	Dec 31, 2023		Charge offs		Recoveries		Net (Charge offs) Recoveries		Provision for Credit Losses		Dec 31, 2024		ACLL / Loans
Allowance for loan losses


Commercial and industrial	$	128,263	$	(47,517)	$	2,148	$	(45,369)	$	53,703	$	136,596
Commercial real estate — owner occupied	10,610		(3)		7		4		(1,198)		9,417
Commercial and business lending	138,873		(47,520)		2,155		(45,365)		52,505		146,013
Commercial real estate — investor	67,858		(11,187)		—		(11,187)		14,876		71,547
Real estate construction	53,554		—		65		65		(2,119)		51,499
Commercial real estate lending	121,412		(11,187)		65		(11,122)		12,756		123,046
Total commercial	260,285		(58,707)		2,220		(56,487)		65,262		269,060
Residential mortgage	37,808		(1,029)		280		(750)		(4,483)		32,576
Auto finance	24,961		(9,541)		2,905		(6,637)		10,142		28,467
Home equity	15,403		(216)		1,366		1,150		67		16,620
Other consumer	12,638		(6,922)		1,096		(5,826)		10,012		16,824
Total consumer	90,809		(17,709)		5,647		(12,062)		15,738		94,486
Total loans	$	351,094	$	(76,415)	$	7,867	$	(68,549)	$	81,000	$	363,545
Allowance for unfunded commitments


Commercial and industrial	$	13,319	$	—	$	—	$	—	$	1,137	$	14,456
Commercial real estate — owner occupied	149		—		—		—		2		151
Commercial and business lending	13,468		—		—		—		1,139		14,607
Commercial real estate — investor	480		—		—		—		98		578
Real estate construction	17,024		—		—		—		2,567		19,591
Commercial real estate lending	17,504		—		—		—		2,664		20,169
Total commercial	30,972		—		—		—		3,803		34,776


Home equity	2,629		—		—		—		(164)		2,465
Other consumer	1,174		—		—		—		361		1,535
Total consumer	3,803		—		—		—		197		4,000
Total loans	$	34,776	$	—	$	—	$	—	$	4,000	$	38,776
Allowance for credit losses on loans

Commercial and industrial	$	141,582	$	(47,517)	$	2,148	$	(45,369)	$	54,840	$	151,052	1.43	%
Commercial real estate — owner occupied	10,759		(3)		7		4		(1,196)		9,568		0.84	%
Commercial and business lending	152,341		(47,520)		2,155		(45,365)		53,644		160,620		1.37	%
Commercial real estate — investor	68,338		(11,187)		—		(11,187)		14,973		72,125		1.38	%
Real estate construction	70,578		—		65		65		447		71,090		3.59	%
Commercial real estate lending	138,916		(11,187)		65		(11,122)		15,421		143,215		1.99	%
Total commercial	291,257		(58,707)		2,220		(56,487)		69,065		303,835		1.61	%
Residential mortgage	37,808		(1,029)		280		(750)		(4,483)		32,576		0.46	%
Auto finance	24,961		(9,541)		2,905		(6,637)		10,142		28,467		1.01	%
Home equity	18,032		(216)		1,366		1,150		(97)		19,085		2.87	%
Other consumer	13,812		(6,922)		1,096		(5,826)		10,373		18,359		5.76	%
Total consumer	94,613		(17,709)		5,647		(12,062)		15,935		98,486		0.91	%
Total loans	$	385,870	$	(76,415)	$	7,867	$	(68,549)	$	85,000	$	402,322	1.35	%