Allowance for Credit Losses and Credit Quality of Loans (Tables)

12 Months Ended

Dec. 31, 2024

Allowance for Credit Losses and Credit Quality of Loans [Abstract]

Allowance for Loan Losses by Portfolio

The following tables present the activity in the allowance for credit losses by our portfolio segment:

(In thousands)	Commercial Loans			Consumer Loans			Residential			Total
Balance as of December 31, 2023	$	45,903		$	46,427		$	22,070		$	114,400
Charge-offs		(5,042	)		(20,475	)		(211	)		(25,728	)
Recoveries		839			6,467			415			7,721
Provision		3,753			11,568			4,286			19,607
Ending Balance as of December 31, 2024	$	45,453		$	43,987		$	26,560		$	116,000
Balance as of January 1, 2023 (after adoption of ASU 2022-02)	$	34,662		$	50,951		$	14,539		$	100,152
Allowance for credit loss on PCD acquired loans		5,300			19			453			5,772
Charge-offs		(4,154	)		(22,107	)		(517	)		(26,778	)
Recoveries		3,625			5,859			496			9,980
Provision		6,470			11,705			7,099			25,274
Ending Balance as of December 31, 2023	$	45,903		$	46,427		$	22,070		$	114,400
Balance as of December 31, 2021	$	28,941		$	44,253		$	18,806		$	92,000
Charge-offs		(1,870	)		(16,140	)		(633	)		(18,643	)
Recoveries		2,430			7,014			852			10,296
Provision		5,221			15,824			(3,898	)		17,147
Ending Balance as of December 31, 2022	$	34,722		$	50,951		$	15,127		$	100,800

Past due and Nonperforming Loans by Loan Class

The following table sets forth information with regard to past due and nonperforming loans by loan segment:

(In thousands)	31-60 Days Past Due Accruing		61-90 Days Past Due Accruing		Greater Than 90 Days Past Due Accruing		Total Past Due Accruing		Nonaccrual		Current		Recorded Total Loans
As of December 31, 2024
Commercial loans:
C&I	$	398	$	452	$	-	$	850	$	2,116	$	1,427,247	$	1,430,213
CRE		698		191		-		889		30,028		3,665,223		3,696,140
Total commercial loans	$	1,096	$	643	$	-	$	1,739	$	32,144	$	5,092,470	$	5,126,353
Consumer loans:
Auto	$	11,527	$	2,047	$	900	$	14,474	$	2,054	$	1,228,378	$	1,244,906
Residential solar		4,066		1,991		1,599		7,656		212		812,211		820,079
Other consumer		1,552		985		888		3,425		263		105,529		109,217
Total consumer loans	$	17,145	$	5,023	$	3,387	$	25,555	$	2,529	$	2,146,118	$	2,174,202
Residential	$	3,360	$	467	$	2,411	$	6,238	$	11,146	$	2,651,971	$	2,669,355
Total loans	$	21,601	$	6,133	$	5,798	$	33,532	$	45,819	$	9,890,559	$	9,969,910

(In thousands)	31-60 Days Past Due Accruing		61-90 Days Past Due Accruing		Greater Than 90 Days Past Due Accruing		Total Past Due Accruing		Nonaccrual		Current		Recorded Total Loans
As of December 31, 2023
Commercial loans:
C&I	$	414	$	33	$	1	$	448	$	3,441	$	1,393,616	$	1,397,505
CRE		803		835		-		1,638		18,126		3,413,984		3,433,748
Total commercial loans	$	1,217	$	868	$	1	$	2,086	$	21,567	$	4,807,600	$	4,831,253
Consumer loans:
Auto	$	10,115	$	2,011	$	1,067	$	13,193	$	2,106	$	1,084,143	$	1,099,442
Residential solar		3,074		1,301		915		5,290		245		912,220		917,755
Other consumer		2,343		1,811		1,124		5,278		215		164,867		170,360
Total consumer loans	$	15,532	$	5,123	$	3,106	$	23,761	$	2,566	$	2,161,230	$	2,187,557
Residential	$	3,836	$	399	$	554	$	4,789	$	10,080	$	2,617,034	$	2,631,903
Total loans	$	20,585	$	6,390	$	3,661	$	30,636	$	34,213	$	9,585,864	$	9,650,713

Credit Quality by Loan Class by Year of Origination (Vintage)

The following tables illustrate the Company’s credit quality by loan class by vintage and includes gross charge-offs by vintage. Included in other consumer gross charge-offs for the year ended December 31, 2024, the Company recorded $0.2 million in overdrawn deposit accounts reported as 2023 originations and $0.7 million in overdrawn deposit accounts reported as 2024 originations. Included in other consumer gross charge-offs for the year ended December 31, 2023, the Company recorded $0.2 million in overdrawn deposit accounts reported as 2022 originations and $0.8 million in overdrawn deposit accounts reported as 2023 originations.

(In thousands)	2024			2023			2022			2021			2020			Prior			Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
As of December 31, 2024
C&I
By internally assigned grade:
Pass	$	255,824		$	166,780		$	180,095		$	177,839		$	118,826		$	101,755		$	349,443	$	3,588	$	1,354,150
Special mention		272			3,265			3,461			1,639			307			1,008			22,582		4,374		36,908
Substandard		2,419			3,895			2,183			1,555			173			3,878			23,231		1,751		39,085
Doubtful		-			67			2			1			-			-			-		-		70
Total C&I	$	258,515		$	174,007		$	185,741		$	181,034		$	119,306		$	106,641		$	395,256	$	9,713	$	1,430,213
Current-period gross charge-offs	$	-		$	(99	)	$	(1,063	)	$	(162	)	$	-		$	(1,352	)	$	-	$	-	$	(2,676	)
CRE
By internally assigned grade:
Pass	$	414,835		$	352,834		$	550,682		$	514,134		$	414,737		$	912,693		$	314,574	$	45,940	$	3,520,429
Special mention		2,573			14,406			23,747			7,440			4,310			16,888			2,044		1,222		72,630
Substandard		-			1,743			19,182			18,111			2,362			61,029			654		-		103,081
Total CRE	$	417,408		$	368,983		$	593,611		$	539,685		$	421,409		$	990,610		$	317,272	$	47,162	$	3,696,140
Current-period gross charge-offs	$	-		$	-		$	-		$	(2,366	)	$	-		$	-		$	-	$	-	$	(2,366	)
Auto
By payment activity:
Performing	$	557,817		$	321,545		$	238,232		$	90,143		$	19,931		$	14,284		$	-	$	-	$	1,241,952
Nonperforming		594			983			710			459			107			101			-		-		2,954
Total auto	$	558,411		$	322,528		$	238,942		$	90,602		$	20,038		$	14,385		$	-	$	-	$	1,244,906
Current-period gross charge-offs	$	(141	)	$	(1,478	)	$	(1,610	)	$	(837	)	$	(116	)	$	(347	)	$	-	$	-	$	(4,529	)
Residential solar
By payment activity:
Performing	$	4,381		$	121,755		$	398,030		$	166,018		$	56,612		$	71,472		$	-	$	-	$	818,268
Nonperforming		-			213			869			488			80			161			-		-		1,811
Total residential solar	$	4,381		$	121,968		$	398,899		$	166,506		$	56,692		$	71,633		$	-	$	-	$	820,079
Current-period gross charge-offs	$	-		$	(530	)	$	(4,441	)	$	(716	)	$	(201	)	$	(694	)	$	-	$	-	$	(6,582	)
Other consumer
By payment activity:
Performing	$	16,426		$	6,685		$	11,792		$	27,045		$	10,718		$	15,881		$	19,507	$	12	$	108,066
Nonperforming		12			43			207			433			209			202			15		30		1,151
Total other consumer	$	16,438		$	6,728		$	11,999		$	27,478		$	10,927		$	16,083		$	19,522	$	42	$	109,217
Current-period gross charge-offs	$	(735	)	$	(330	)	$	(2,080	)	$	(4,271	)	$	(1,036	)	$	(912	)	$	-	$	-	$	(9,364	)
Residential
By payment activity:
Performing	$	188,657		$	222,593		$	369,473		$	419,053		$	246,867		$	924,869		$	265,351	$	18,935	$	2,655,798
Nonperforming		580			765			766			2,507			160			8,779			-		-		13,557
Total residential	$	189,237		$	223,358		$	370,239		$	421,560		$	247,027		$	933,648		$	265,351	$	18,935	$	2,669,355
Current-period gross charge-offs	$	-		$	(34	)	$	-		$	-		$	-		$	(177	)	$	-	$	-	$	(211	)
Total loans	$	1,444,390		$	1,217,572		$	1,799,431		$	1,426,865		$	875,399		$	2,133,000		$	997,401	$	75,852	$	9,969,910
Current-period gross charge-offs	$	(876	)	$	(2,471	)	$	(9,194	)	$	(8,352	)	$	(1,353	)	$	(3,482	)	$	-	$	-	$	(25,728	)

(In thousands)	2023			2022			2021			2020			2019			Prior			Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
As of December 31, 2023
C&I
By internally assigned grade:
Pass	$	229,249		$	270,796		$	241,993		$	158,051		$	74,469		$	63,826		$	299,248	$	2,923	$	1,340,555
Special mention		420			1,672			277			3,524			87			1,854			19,489		-		27,323
Substandard		1,496			2,461			1,609			282			2,266			5,632			14,266		1,607		29,619
Doubtful		-			1			2			-			4			1			-		-		8
Total C&I	$	231,165		$	274,930		$	243,881		$	161,857		$	76,826		$	71,313		$	333,003	$	4,530	$	1,397,505
Current-period gross charge-offs	$	(24	)	$	(3,021	)	$	(5	)	$	(86	)	$	-		$	(600	)	$	-	$	-	$	(3,736	)
CRE
By internally assigned grade:
Pass	$	353,161		$	518,201		$	561,897		$	452,110		$	327,804		$	739,189		$	294,039	$	33,705	$	3,280,106
Special mention		3,577			4,472			10,711			7,055			9,967			39,460			2,970		-		78,212
Substandard		370			731			21,807			1,146			2,996			37,418			10,962		-		75,430
Total CRE	$	357,108		$	523,404		$	594,415		$	460,311		$	340,767		$	816,067		$	307,971	$	33,705	$	3,433,748
Current-period gross charge-offs	$	-		$	-		$	-		$	-		$	(114	)	$	(304	)	$	-	$	-	$	(418	)
Auto
By payment activity:
Performing	$	474,369		$	363,516		$	157,251		$	42,644		$	45,406		$	13,071		$	12	$	-	$	1,096,269
Nonperforming		532			1,241			830			190			306			74			-		-		3,173
Total auto	$	474,901		$	364,757		$	158,081		$	42,834		$	45,712		$	13,145		$	12	$	-	$	1,099,442
Current-period gross charge-offs	$	(102	)	$	(1,183	)	$	(1,066	)	$	(340	)	$	(301	)	$	(295	)	$	-	$	-	$	(3,287	)
Residential solar
By payment activity:
Performing	$	155,425		$	430,855		$	178,839		$	65,382		$	46,554		$	39,540		$	-	$	-	$	916,595
Nonperforming		-			837			205			18			47			53			-		-		1,160
Total residential solar	$	155,425		$	431,692		$	179,044		$	65,400		$	46,601		$	39,593		$	-	$	-	$	917,755
Current-period gross charge-offs	$	(150	)	$	(1,930	)	$	(923	)	$	(45	)	$	(558	)	$	(345	)	$	-	$	-	$	(3,951	)
Other consumer
By payment activity:
Performing	$	13,089		$	27,394		$	57,876		$	21,087		$	14,548		$	15,964		$	19,042	$	21	$	169,021
Nonperforming		-			244			685			144			56			161			4		45		1,339
Total other consumer	$	13,089		$	27,638		$	58,561		$	21,231		$	14,604		$	16,125		$	19,046	$	66	$	170,360
Current-period gross charge-offs	$	(885	)	$	(3,744	)	$	(7,511	)	$	(1,329	)	$	(832	)	$	(568	)	$	-	$	-	$	(14,869	)
Residential
By payment activity:
Performing	$	212,799		$	366,860		$	453,206		$	267,845		$	167,860		$	876,563		$	260,836	$	15,300	$	2,621,269
Nonperforming		134			430			1,121			385			591			7,460			-		513		10,634
Total residential	$	212,933		$	367,290		$	454,327		$	268,230		$	168,451		$	884,023		$	260,836	$	15,813	$	2,631,903
Current-period gross charge-offs	$	-		$	-		$	(81	)	$	(30	)	$	-		$	(406	)	$	-	$	-	$	(517	)
Total loans	$	1,444,621		$	1,989,711		$	1,688,309		$	1,019,863		$	692,961		$	1,840,266		$	920,868	$	54,114	$	9,650,713
Current-period gross charge-offs	$	(1,161	)	$	(9,878	)	$	(9,586	)	$	(1,830	)	$	(1,805	)	$	(2,518	)	$	-	$	-	$	(26,778	)

Amortized Cost Basis of Loans Modified to Borrowers Experiencing Financial Difficulty

The following table shows the amortized cost basis at the end of the reporting period of the loans modified to borrowers experiencing financial difficulty, disaggregated by class of financing receivable and type of concession granted:

	Year Ended December 31, 2024
	Interest Rate Reduction				Term Extension					Combination - Term Extension and Interest Rate Reduction
(Dollars in thousands)	Amortized Cost		% of Total Class of Financing Receivables		Amortized Cost		% of Total Class of Financing Receivables			Amortized Cost		% of Total Class of Financing Receivables
Residential	$	-		-	$	1,200		0.045	%	$	282		0.011	%
Total	$	-			$	1,200				$	282

	Year Ended December 31, 2023
	Interest Rate Reduction						Term Extension						Combination - Term Extension and Interest Rate Reduction
(Dollars in thousands)	Amortized Cost			% of Total Class of Financing Receivables			Amortized Cost			% of Total Class of Financing Receivables			Amortized Cost			% of Total Class of Financing Receivables
Residential		$	174		0.007	%		$	311		0.012	%		$	160		0.006	%
Total		$	174					$	311					$	160

Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty

The following table describes the financial effect of the modifications made to borrowers experiencing financial difficulties:

	Year Ended December 31, 2024
Loan Type	Term Extension	Interest Rate Reduction
Residential	Added a weighted-average 8 years to the life of loans, which reduced monthly payment amounts for the borrowers.	Interest rates were reduced by an average of 0.6%

	Year Ended December 31, 2023
Loan Type	Term Extension	Interest Rate Reduction
Residential	Added a weighted-average 12 years to the life of loans, which reduced monthly payment amounts for the borrowers.	Interest rates were reduced by an average of 1.5%

Performance of Modified Loans

The following table depicts the performance of loans that have been modified to borrowers experiencing financial difficulty that were modified in the prior twelve months:

	Payment Status (Amortized Cost Basis)
(In thousands)	Current		31-60 Days Past Due		61-90 Days Past Due		Greater than 90 Days Past Due
Year Ended December 31, 2024
Residential	$	1,369	$	-	$	-	$	113
Total	$	1,369	$	-	$	-	$	113

	Payment Status (Amortized Cost Basis)
(In thousands)	Current		31-60 Days Past Due		61-90 Days Past Due		Greater than 90 Days Past Due
Year Ended December 31, 2023
Residential	$	490	$	124	$	-	$	31
Total	$	490	$	124	$	-	$	31

Recorded Investment & Number of Modifications on Troubled Debt Restructurings

The following tables illustrate the recorded investment and number of modifications designated as TDRs, including the recorded investment in the loans prior to a modification and the recorded investment in the loans after restructuring:

	Year Ended December 31, 2022
(Dollars in thousands)	Number of Contracts		Pre- Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment
Residential		10	$	829	$	928
Total TDRs		10	$	829	$	928

The following table illustrates the recorded investment and number of modifications for TDRs where a concession has been made and subsequently defaulted during the year:

	Year Ended December 31, 2022
(Dollars in thousands)	Number of Contracts		Recorded Investment
Commercial loans:
C&I		1	$	320
Total commercial loans		1	$	320
Consumer loans:
Auto		2	$	20
Total consumer loans		2	$	20
Residential		50	$	3,387
Total TDRs		53	$	3,727