Loans and Leases

6 Months Ended

Jun. 30, 2023

Loans and Leases Receivable Disclosure [Abstract]

Loans and Leases

Loans and Leases

The following table summarizes loans and leases by portfolio segment and class:

(In thousands)	At June 30, 2023		At December 31, 2022
Commercial non-mortgage	$	17,255,036	$	16,392,795
Asset-based	1,718,251		1,821,642
Commercial real estate	13,542,251		12,997,163
Multi-family	7,118,820		6,621,982
Equipment financing	1,535,564		1,628,393
Warehouse lending	708,560		641,976
Commercial portfolio	41,878,482		40,103,951
Residential	8,140,182		7,963,420
Home equity	1,552,850		1,633,107
Other consumer	54,534		63,948
Consumer portfolio	9,747,566		9,660,475
Loans and leases	$	51,626,048	$	49,764,426

The carrying amount of loans and leases at June 30, 2023, and December 31, 2022, includes net unamortized
(discounts)/premiums and net unamortized deferred (fees)/costs totaling $(49.8) million and $(68.7) million, respectively. Accrued interest receivable of $253.9 million and $226.3 million at June 30, 2023, and December 31, 2022, respectively, is excluded from the carrying amount of loans and leases and is included in Accrued interest receivable and other assets on the accompanying Condensed Consolidated Balance Sheets. At June 30, 2023, the Company had pledged $16.7 billion of eligible loans as collateral to support borrowing capacity at the FHLB.

Non-Accrual and Past Due Loans and Leases

The following tables summarize the aging of accrual and non-accrual loans and leases by class:

	At June 30, 2023
(In thousands)	30-59 Days Past Due and Accruing		60-89 Days Past Due and Accruing		90 or More Days Past Due and Accruing		Non-accrual		Total Past Due and Non-accrual		Current (1)		Total Loans and Leases
Commercial non-mortgage	$	2,550	$	24,664	$	—	$	95,332	$	122,546	$	17,132,490	$	17,255,036
Asset-based	—		—		—		9,428		9,428		1,708,823		1,718,251
Commercial real estate	750		249		—		40,272		41,271		13,500,980		13,542,251
Multi-family	1,023		—		—		5,823		6,846		7,111,974		7,118,820
Equipment financing	3,459		1,368		28		11,353		16,208		1,519,356		1,535,564
Warehouse lending	—		—		—		—		—		708,560		708,560
Commercial portfolio	7,782		26,281		28		162,208		196,299		41,682,183		41,878,482
Residential	8,596		1,918		—		26,750		37,264		8,102,918		8,140,182
Home equity	3,305		2,926		—		26,213		32,444		1,520,406		1,552,850
Other consumer	406		104		1		72		583		53,951		54,534
Consumer portfolio	12,307		4,948		1		53,035		70,291		9,677,275		9,747,566
Total	$	20,089	$	31,229	$	29	$	215,243	$	266,590	$	51,359,458	$	51,626,048

(1)At June 30, 2023, there were $22.6 million of commercial loans that had either reached their contractual maturity or experienced administrative delays. These loans are classified as current in the table above. In July 2023, $19.0 million were resolved.

	At December 31, 2022
(In thousands)	30-59 Days Past Due and Accruing		60-89 Days Past Due and Accruing		90 or More Days Past Due and Accruing		Non-accrual		Total Past Due and Non-accrual		Current		Total Loans and Leases
Commercial non-mortgage	$	8,434	$	821	$	645	$	71,884	$	81,784	$	16,311,011	$	16,392,795
Asset-based	5,921		—		—		20,024		25,945		1,795,697		1,821,642
Commercial real estate	1,494		23,492		68		39,057		64,111		12,933,052		12,997,163
Multi-family	1,157		—		—		636		1,793		6,620,189		6,621,982
Equipment financing	806		9,988		—		12,344		23,138		1,605,255		1,628,393
Warehouse lending	—		—		—		—		—		641,976		641,976
Commercial portfolio	17,812		34,301		713		143,945		196,771		39,907,180		40,103,951
Residential	8,246		3,083		—		25,424		36,753		7,926,667		7,963,420
Home equity	5,293		2,820		—		27,924		36,037		1,597,070		1,633,107
Other consumer	1,028		85		13		148		1,274		62,674		63,948
Consumer portfolio	14,567		5,988		13		53,496		74,064		9,586,411		9,660,475
Total	$	32,379	$	40,289	$	726	$	197,441	$	270,835	$	49,493,591	$	49,764,426

The following table provides additional information on non-accrual loans and leases:

	At June 30, 2023				At December 31, 2022
(In thousands)	Non-accrual		Non-accrual with No Allowance		Non-accrual		Non-accrual with No Allowance
Commercial non-mortgage	$	95,332	$	14,097	$	71,884	$	12,598
Asset-based	9,428		1,330		20,024		1,491
Commercial real estate	40,272		1,461		39,057		90
Multi-family	5,823		5,823		636		—
Equipment financing	11,353		2,532		12,344		2,240
Commercial portfolio	162,208		25,243		143,945		16,419
Residential	26,750		10,656		25,424		10,442
Home equity	26,213		13,868		27,924		15,193
Other consumer	72		4		148		5
Consumer portfolio	53,035		24,528		53,496		25,640
Total	$	215,243	$	49,771	$	197,441	$	42,059

Interest income on non-accrual loans and leases that would have been recognized had the loans and leases been current in accordance with their contractual terms totaled $6.9 million and $5.2 million for the three months ended June 30, 2023, and 2022, respectively, and $12.4 million and $8.6 million for the six months ended June 30, 2023, and 2022, respectively.

Allowance for Credit Losses on Loans and Leases

The following table summarizes the change in the ACL on loans and leases by portfolio segment:

	At or for the three months ended June 30,
	2023						2022
(In thousands)	Commercial Portfolio		Consumer Portfolio		Total		Commercial Portfolio		Consumer Portfolio		Total
ACL on loans and leases:
Balance, beginning of period	$	554,750	$	59,164	$	613,914	$	510,696	$	58,675	$	569,371
Provision (benefit)	38,824		(3,575)		35,249		12,041		(313)		11,728
Charge-offs	(21,945)		(1,085)		(23,030)		(18,757)		(896)		(19,653)
Recoveries	1,024		1,754		2,778		7,765		2,288		10,053
Balance, end of period	$	572,653	$	56,258	$	628,911	$	511,745	$	59,754	$	571,499

	At or for the six months ended June 30,
	2023						2022
(In thousands)	Commercial Portfolio		Consumer Portfolio		Total		Commercial Portfolio		Consumer Portfolio		Total
ACL on loans and leases:
Balance, beginning of period	$	533,125	$	61,616	$	594,741	$	257,877	$	43,310	$	301,187
Adoption of ASU No. 2022-02	7,704		(1,831)		5,873		—		—		—
Initial allowance for PCD loans and leases (1)	—		—		—		78,376		9,669		88,045
Provision (benefit)	77,581		(4,511)		73,070		196,368		4,428		200,796
Charge-offs	(48,355)		(2,183)		(50,538)		(30,005)		(2,016)		(32,021)
Recoveries	2,598		3,167		5,765		9,129		4,363		13,492
Balance, end of period	$	572,653	$	56,258	$	628,911	$	511,745	$	59,754	$	571,499
Individually evaluated for credit losses	46,215		7,513		53,728		38,847		4,450		43,297
Collectively evaluated for credit losses	$	526,438	$	48,745	$	575,183	$	472,898	$	55,304	$	528,202

(1)Represents the establishment of the initial reserve for PCD loans and leases, which is reported net of $48.3 million of day one charge-offs recognized at the date of acquisition in accordance with GAAP.

Credit Quality Indicators

To measure credit risk for the commercial portfolio, the Company employs a dual grade credit risk grading system for estimating the PD and LGD. The credit risk grade system assigns a rating to each borrower and to the facility, which together form a Composite Credit Risk Profile. The credit risk grade system categorizes borrowers by common financial characteristics that measure the credit strength of borrowers and facilities by common structural characteristics. The Composite Credit Risk Profile has ten grades, with each grade corresponding to a progressively greater risk of loss. Grades (1) to (6) are considered pass ratings, and grades (7) to (10) are considered criticized, as defined by the regulatory agencies. A (7) "Special Mention" rating has a potential weakness that, if left uncorrected, may result in deterioration of the repayment prospects for the asset. A (8) "Substandard" rating has a well-defined weakness that jeopardizes the full repayment of the debt. A (9) "Doubtful" rating has all of the same weaknesses as a substandard asset with the added characteristic that the weakness makes collection or liquidation in full given current facts, conditions, and values improbable. Assets classified as a (10) "Loss" rating are considered uncollectible and are charged-off. Risk ratings, which are assigned to differentiate risk within the portfolio, are reviewed on an ongoing basis and revised to reflect changes in a borrower's current financial position and outlook, risk profile, and the related collateral and structural position. Loan officers review updated financial information or other loan factors on at least an annual basis for all pass rated loans to assess the accuracy of the risk grade. Criticized loans undergo more frequent reviews and enhanced monitoring.

To measure credit risk for the consumer portfolio, the most relevant credit characteristic is the FICO score, which is a widely used credit scoring system that ranges from 300 to 850. A lower FICO score is indicative of higher credit risk and a higher FICO score is indicative of lower credit risk. FICO scores are updated on at least a quarterly basis.

The following tables summarize the amortized cost basis of commercial loans and leases by Composite Credit Risk Profile grade and origination year:

	At June 30, 2023
(In thousands)	2023		2022		2021		2020		2019		Prior		Revolving Loans Amortized Cost Basis		Total
Commercial non-mortgage:
Risk rating:
Pass	$	1,672,800	$	4,814,327	$	1,535,033	$	814,981	$	649,366	$	1,081,197	$	6,099,138	$	16,666,842
Special mention	24,849		83,936		80,312		12,292		15,636		9,017		83,731		309,773
Substandard	23,672		60,311		15,390		32,278		45,315		36,438		65,017		278,421
Total commercial non-mortgage	1,721,321		4,958,574		1,630,735		859,551		710,317		1,126,652		6,247,886		17,255,036
Current period gross write-offs	324		329		535		511		178		3,675		—		5,552
Asset-based:
Risk rating:
Pass	10,964		8,284		—		1,565		9,427		56,838		1,487,079		1,574,157
Special mention	—		—		—		—		—		381		71,033		71,414
Substandard	—		—		—		—		1,330		—		71,350		72,680
Total asset-based	10,964		8,284		—		1,565		10,757		57,219		1,629,462		1,718,251
Current period gross write-offs	—		—		—		—		13,189		—		—		13,189
Commercial real estate:
Risk rating:
Pass	1,488,568		3,589,054		1,912,030		1,356,330		1,329,052		3,397,728		149,322		13,222,084
Special mention	656		2,496		27,071		31,689		23,739		58,074		1,408		145,133
Substandard	15,936		512		16,658		15,447		54,635		71,846		—		175,034
Total commercial real estate	1,505,160		3,592,062		1,955,759		1,403,466		1,407,426		3,527,648		150,730		13,542,251
Current period gross write-offs	—		—		2,574		3,813		1,059		21,094		—		28,540
Multi-family:
Risk rating:
Pass	992,039		1,911,526		1,003,245		449,847		607,503		2,077,167		1		7,041,328
Special mention	—		—		—		22,471		364		41,458		—		64,293
Substandard	—		—		—		373		—		12,826		—		13,199
Total multi-family	992,039		1,911,526		1,003,245		472,691		607,867		2,131,451		1		7,118,820
Current period gross write-offs	—		—		—		—		—		1,033		—		1,033
Equipment financing:
Risk rating:
Pass	201,925		348,890		284,909		253,271		243,348		124,924		—		1,457,267
Special mention	—		—		11,296		8,751		13,031		7,207		—		40,285
Substandard	—		3,290		5,466		12,452		4,721		12,083		—		38,012
Total equipment financing	201,925		352,180		301,671		274,474		261,100		144,214		—		1,535,564
Current period gross write-offs	—		—		—		—		—		41		—		41
Warehouse lending:
Risk rating:
Pass	—		—		—		—		—		—		708,560		708,560
Total warehouse lending	—		—		—		—		—		—		708,560		708,560
Current period gross write-offs	—		—		—		—		—		—		—		—
Total commercial portfolio	$	4,431,409	$	10,822,626	$	4,891,410	$	3,011,747	$	2,997,467	$	6,987,184	$	8,736,639	$	41,878,482
Current period gross write-offs	$	324	$	329	$	3,109	$	4,324	$	14,426	$	25,843	$	—	$	48,355

	At December 31, 2022
(In thousands)	2022		2021		2020		2019		2018		Prior		Revolving Loans Amortized Cost Basis		Total
Commercial non-mortgage:
Pass	$	5,154,781	$	1,952,158	$	965,975	$	792,977	$	593,460	$	780,200	$	5,670,532	$	15,910,083
Special mention	104,277		15,598		21,168		263		14,370		7,770		40,142		203,588
Substandard	28,203		11,704		69,954		36,604		70,634		16,852		41,917		275,868
Doubtful	—		—		—		1		—		—		3,255		3,256
Total commercial non-mortgage	5,287,261		1,979,460		1,057,097		829,845		678,464		804,822		5,755,846		16,392,795
Asset-based:
Pass	19,659		3,901		9,424		14,413		5,163		55,553		1,551,250		1,659,363
Special mention	—		—		—		—		—		—		80,476		80,476
Substandard	—		—		—		1,491		—		—		80,312		81,803
Total asset-based	19,659		3,901		9,424		15,904		5,163		55,553		1,712,038		1,821,642
Commercial real estate:
Pass	3,420,635		2,246,672		1,556,185		1,605,869		1,058,730		2,681,052		97,832		12,666,975
Special mention	21,878		8,995		7,264		37,570		47,419		66,652		1,000		190,778
Substandard	519		2,459		216		31,163		47,021		57,997		—		139,375
Doubtful	—		—		—		1		—		34		—		35
Total commercial real estate	3,443,032		2,258,126		1,563,665		1,674,603		1,153,170		2,805,735		98,832		12,997,163
Multi-family:
Pass	1,992,980		1,057,705		507,065		694,066		444,564		1,748,337		51,655		6,496,372
Special mention	37,677		—		—		95		40,307		726		8,838		87,643
Substandard	—		—		382		—		12,681		24,904		—		37,967
Total multi-family	2,030,657		1,057,705		507,447		694,161		497,552		1,773,967		60,493		6,621,982
Equipment financing:
Pass	388,641		345,792		331,419		308,441		98,874		83,264		—		1,556,431
Special mention	—		185		—		11,965		6,775		25		—		18,950
Substandard	314		16,711		18,436		5,016		5,307		7,228		—		53,012
Total equipment financing	388,955		362,688		349,855		325,422		110,956		90,517		—		1,628,393
Warehouse lending:
Pass	—		—		—		—		—		—		641,976		641,976
Total warehouse lending	—		—		—		—		—		—		641,976		641,976
Total commercial portfolio	$	11,169,564	$	5,661,880	$	3,487,488	$	3,539,935	$	2,445,305	$	5,530,594	$	8,269,185	$	40,103,951

The following tables summarize the amortized cost basis of consumer loans by FICO score and origination year:

	At June 30, 2023
(In thousands)	2023		2022		2021		2020		2019		Prior		Revolving Loans Amortized Cost Basis		Total
Residential:
Risk rating:
800+	$	83,586	$	711,811	$	1,063,248	$	438,330	$	158,719	$	967,612	$	—	$	3,423,306
740-799	215,262		834,914		843,118		331,838		101,576		697,162		—		3,023,870
670-739	75,016		334,227		302,307		87,497		56,903		366,022		—		1,221,972
580-669	6,654		49,107		52,155		14,510		5,893		124,153		—		252,472
579 and below	423		46,418		4,669		2,906		108,166		55,980		—		218,562
Total residential	380,941		1,976,477		2,265,497		875,081		431,257		2,210,929		—		8,140,182
Current period gross write-offs	—		—		2		—		—		273		—		275
Home equity:
Risk rating:
800+	13,079		27,754		35,706		26,457		7,471		61,655		414,584		586,706
740-799	13,347		24,237		30,998		16,481		6,992		38,169		374,503		504,727
670-739	10,007		16,092		15,479		5,914		3,724		30,021		248,766		330,003
580-669	943		2,931		2,872		1,246		1,200		11,552		71,317		92,061
579 and below	278		652		572		596		392		7,241		29,622		39,353
Total home equity	37,654		71,666		85,627		50,694		19,779		148,638		1,138,792		1,552,850
Current period gross write-offs	—		—		—		—		—		494		—		494
Other consumer:
Risk rating:
800+	386		516		260		402		622		180		22,092		24,458
740-799	704		715		2,354		1,011		1,515		581		4,443		11,323
670-739	377		640		430		1,447		2,403		362		8,350		14,009
580-669	57		178		132		280		566		91		1,221		2,525
579 and below	70		131		82		21		57		42		1,816		2,219
Total other consumer	1,594		2,180		3,258		3,161		5,163		1,256		37,922		54,534
Current period gross write-offs	750		7		3		176		232		246		—		1,414
Total consumer portfolio	$	420,189	$	2,050,323	$	2,354,382	$	928,936	$	456,199	$	2,360,823	$	1,176,714	$	9,747,566
Current period gross write-offs	$	750	$	7	$	5	$	176	$	232	$	1,013	$	—	$	2,183

	At December 31, 2022
(In thousands)	2022		2021		2020		2019		2018		Prior		Revolving Loans Amortized Cost Basis		Total
Residential:
800+	$	527,408	$	954,568	$	469,518	$	160,596	$	28,361	$	997,409	$	—	$	3,137,860
740-799	963,026		946,339		311,295		111,913		43,684		689,771		—		3,066,028
670-739	381,515		350,671		103,999		62,365		18,451		384,687		—		1,301,688
580-669	40,959		49,648		14,484		5,836		2,357		138,107		—		251,391
579 and below	52,464		3,693		2,057		84,032		1,299		62,908		—		206,453
Total residential	1,965,372		2,304,919		901,353		424,742		94,152		2,272,882		—		7,963,420
Home equity:
800+	25,475		35,129		25,612		7,578		12,545		55,352		465,318		627,009
740-799	26,743		35,178		17,621		8,111		7,765		32,270		398,692		526,380
670-739	18,396		16,679		8,175		3,635		7,614		30,060		259,646		344,205
580-669	2,848		3,068		1,520		1,456		1,163		13,607		76,614		100,276
579 and below	426		386		651		661		563		4,736		27,814		35,237
Total home equity	73,888		90,440		53,579		21,441		29,650		136,025		1,228,084		1,633,107
Other consumer:
800+	495		218		544		1,045		247		56		19,196		21,801
740-799	888		2,624		1,959		2,494		941		364		12,218		21,488
670-739	977		603		2,480		4,238		1,041		118		6,107		15,564
580-669	211		117		337		801		173		54		2,223		3,916
579 and below	169		101		29		116		36		21		707		1,179
Total other consumer	2,740		3,663		5,349		8,694		2,438		613		40,451		63,948
Total consumer portfolio	$	2,042,000	$	2,399,022	$	960,281	$	454,877	$	126,240	$	2,409,520	$	1,268,535	$	9,660,475

Collateral Dependent Loans and Leases

A loan or lease is considered collateral dependent when the borrower is experiencing financial difficulty and repayment is substantially expected to be provided through the operation or sale of collateral. At June 30, 2023, and December 31, 2022, the carrying amount of collateral dependent commercial loans and leases totaled $31.9 million and $43.8 million, respectively, and the carrying amount of collateral dependent consumer loans totaled $39.2 million and $45.2 million, respectively. Commercial non-mortgage, asset-based, and equipment financing loans and leases are generally secured by machinery and equipment, inventory, receivables, or other non-real estate assets, whereas commercial real estate, multi-family, residential, home equity, and other consumer loans are secured by real estate. The ACL for collateral dependent loans and leases is individually assessed based on the fair value of the collateral less costs to sell. At June 30, 2023, and December 31, 2022, the collateral value associated with collateral dependent loans and leases totaled $91.8 million and $108.0 million, respectively.

Modifications for Borrowers Experiencing Financial Difficulty

On January 1, 2023, the Company adopted ASU 2022-02, which eliminates the accounting guidance for TDRs and enhances the disclosure requirements for certain loan modifications when a borrower is experiencing financial difficulty. For a description of the Company's accounting policies related to the accounting and reporting of TDRs, for which comparative period information is presented, refer to Note 1: Summary of Significant Accounting Policies of the Company's Annual Report on Form 10-K for the year ended December 31, 2022.

In certain circumstances, the Company enters into agreements to modify the terms of loans to borrowers experiencing financial difficulty. A variety of solutions are offered to borrowers experiencing financial difficulty, including loan modifications that may result in principal forgiveness, interest rate reductions, payment delays, term extension, or a combination thereof. The following is a description of each of these types of modifications:

•Principal forgiveness – The outstanding principal balance of a loan may be reduced by a specified amount. Principal forgiveness may occur voluntarily as part of a negotiated agreement with a borrower, or involuntarily through a bankruptcy proceeding.

•Interest rate reductions – Includes modifications where the contractual interest rate of the loan has been reduced.

•Payment delays – Deferral arrangements which allow borrowers to delay a scheduled loan payment to a later date. Deferred loan payments do not affect the original contractual terms of the loan. Modifications that result in only an insignificant payment delay are not disclosed. The Company considers that a three month or less payment delay generally would be considered insignificant.

•Term extensions – Extensions of the original contractual maturity date of the loan.

•Combination – Combination includes loans that have undergone more than one of the above loan modification types.

Significant judgment is required to determine if a borrower is experiencing financial difficulty. These considerations vary by portfolio class. The Company has identified modifications to borrowers experiencing financial difficulty that are included in its disclosures as follows:

•Commercial: The Company evaluates modifications of loans to commercial borrowers that are rated substandard or worse, and includes the modifications in its disclosures to the extent that the modification is considered
other-than-insignificant.

•Consumer: The Company evaluates modifications of loans to consumer borrowers subject to its loss mitigation program and includes them in its disclosures to the extent that the modification is considered other-than-insignificant.

The following table summarizes the amortized cost basis at June 30, 2023, of loans modified to borrowers experiencing financial difficulty, disaggregated by class and type of concession granted:

	For the three months ended June 30, 2023
(In thousands)	Interest Rate Reduction		Term Extension		Payment Delay		Combination Term Extension and Interest Rate Reduction		Combination Term Extension and Payment Delay		Total		% of Total Class (2)
Commercial non-mortgage	$	—	$	13,025	$	9,548	$	336	$	11,520	$	34,429	0.2	%
Commercial real estate	—		11,522		171		—		—		11,693		0.1
Equipment financing	—		—		1,408		—		—		1,408		0.1
Residential	—		1,159		1,606		—		—		2,765		—
Home equity	64		52		—		145		—		261		—
Total (1)	$	64	$	25,758	$	12,733	$	481	$	11,520	$	50,556	0.1	%
	For the six months ended June 30, 2023
(In thousands)	Interest Rate Reduction		Term Extension		Payment Delay		Combination Term Extension and Interest Rate Reduction		Combination Term Extension and Payment Delay		Total		% of Total Class (2)
Commercial non-mortgage	$	—	$	39,502	$	9,548	$	336	$	11,520	$	60,906	0.4	%
Commercial real estate	—		14,762		171		—		—		14,933		0.1
Equipment financing	—		—		1,408		—		—		1,408		0.1
Residential	—		1,159		1,606		—		—		2,765		—
Home equity	64		108		—		209		—		381		—
Total (1)	$	64	$	55,531	$	12,733	$	545	$	11,520	$	80,393	0.2	%

(1)The total amortized cost excludes accrued interest receivable of $0.2 million for each reporting period.

(2)Represents the total amortized cost of the loans modified as a percentage of the total period end loan balance by class.

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

	For the three months ended June 30, 2023
	Financial Effect
Interest Rate Reduction:
Home equity	Reduced weighted average interest rate by 0.5%
Term Extension:
Commercial non-mortgage	Extended term by a weighted average of 1.8 years
Commercial real estate	Extended term by a weighted average of 1.0 year
Residential	Extended term by a weighted average of 1.4 years
Home equity	Extended term by a weighted average of 14.4 years
Payment Delay:
Commercial non-mortgage	Provided partial payment deferrals for a weighted average of 0.5 years
Commercial real estate	Provided payment deferrals for a weighted average of 0.3 years to be received at contractual maturity
Equipment financing	Provided partial payment deferrals for a weighted average of 0.5 years
Residential	Provided payment deferrals for a weighted average of 1.0 year
Combination Term Extension and Interest Rate Reduction:
Commercial non-mortgage	Extended term by a weighted average of 3.7 years and reduced weighted average interest rate by 1.3%
Home equity	Extended term by a weighted average of 16.0 years and reduced weighted average interest rate by 1.4%
Combination Term Extension and Payment Delay:
Commercial non-mortgage	Extended term by a weighted average of 1.0 year and provided payment deferrals for a weighted average of 1.3 years

	For the six months ended June 30, 2023
	Financial Effect
Interest Rate Reduction:
Home equity	Reduced weighted average interest rate by 0.5%
Term Extension:
Commercial non-mortgage	Extended term by a weighted average of 0.9 years
Commercial real estate	Extended term by a weighted average of 1.3 years
Residential	Extended term by a weighted average of 1.4 years
Home equity	Extended term by a weighted average of 11.5 years
Payment Delay:
Commercial non-mortgage	Provided partial payment deferrals for a weighted average of 0.5 years
Commercial real estate	Provided payment deferrals for a weighted average of 0.3 years to be received at contractual maturity
Equipment financing	Provided partial payment deferrals for a weighted average of 0.5 years
Residential	Provided payment deferrals for a weighted average of 1.0 year
Combination Term Extension and Rate Reduction:
Commercial non-mortgage	Extended term by a weighted average of 3.7 years and reduced weighted average interest rate by 1.3%
Home equity	Extended term by a weighted average of 12.7 years and reduced weighted average interest rate by 1.4%
Combination Term Extension and Payment Delay:
Commercial non-mortgage	Extended term by a weighted average of 1.0 year and provided payment deferrals for a weighted average of 1.3 years

The Company closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table summarizes the aging of loans that have been modified in the six months ended June 30, 2023:

	At June 30, 2023
(In thousands)	Current		30-59 Days Past Due		60-89 Days Past Due		90+ Days Past Due		Non-Accrual		Total
Commercial non-mortgage	$	25,006	$	—	$	—	$	—	$	35,900	$	60,906
Commercial real estate	14,762		171		—		—		—		14,933
Equipment financing	1,408		—		—		—		—		1,408
Residential	—		—		—		—		2,765		2,765
Home equity	116		—		—		—		265		381
Total	$	41,292	$	171	$	—	$	—	$	38,930	$	80,393

There were no loans made to borrowers experiencing financial difficulty that were modified during the three or six months ended June 30, 2023, and that subsequently defaulted. For the purposes of this disclosure, a payment default is defined as 90 or more days past due and still accruing. Non-accrual loans that are modified to borrowers experiencing financial difficulty remain on non-accrual status until the borrower has demonstrated performance under the modified terms. Commitments to lend additional funds to borrowers experiencing financial difficulty whose loans had been modified were not significant.

Troubled Debt Restructurings Prior to the Adoption of ASU 2022-02

The following table summarizes information related to TDRs:

(In thousands)	At December 31, 2022
Accrual status	$	110,868
Non-accrual status	83,954
Total TDRs	$	194,822
Additional funds committed to borrowers in TDR status	$	1,724
Specific reserves for TDRs included in the ACL on loans and leases:
Commercial portfolio	$	14,578
Consumer portfolio	3,559

The following table summarizes loans and leases modified as TDRs by class and modification type during the three and six months ended June 30, 2022:

	Three months ended June 30, 2022			Six months ended June 30, 2022
(Dollars in thousands)	Number of Contracts	Recorded Investment (1)		Number of Contracts	Recorded Investment (1)
Commercial non-mortgage
Term extension	—	$	—	2	$	97
Combination - Term extension and interest rate reduction	3	351		5	443
Other (2)	1	22,964		1	22,964
Equipment financing
Other (2)	1	1,157		1	1,157
Residential
Extended maturity	1	893		1	893
Other (2)	2	308		6	2,762
Home equity
Adjusted interest rate	1	74		1	74
Combination - Term extension and interest rate reduction	7	680		11	724
Other (2)	9	399		24	1,333
Total TDRs	25	$	26,826	52	$	30,447

(1)Post-modification balances approximated pre-modification balances. The aggregate amount of charge-offs due to restructurings was not significant.

(2)Other included covenant modifications, forbearance, discharges under Chapter 7 bankruptcy, or other concessions.

The portion of TDRs deemed to be uncollectible and charged-off totaled $1.0 million for the commercial portfolio and $0.1 million for the consumer portfolio for the three months ended June 30, 2022, and $10.0 million for the commercial portfolio and $0.1 million for the consumer portfolio for the six months ended June 30, 2022. There were no significant loans and leases modified as TDRs within the previous 12 months and for which there was a payment default during the three and six months ended June 30, 2022.