Loans and Leases

3 Months Ended

Mar. 31, 2025

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)	March 31, 2025		December 31, 2024
Commercial non-mortgage	$	18,266,697	$	18,037,942
Asset-based	1,385,042		1,404,007
Commercial real estate	14,486,748		14,492,436
Multi-family	6,896,396		6,898,600
Equipment financing	1,229,087		1,235,016
Commercial portfolio	42,263,970		42,068,001
Residential	9,123,000		8,853,669
Home equity	1,392,129		1,427,692
Other consumer	277,124		155,806
Consumer portfolio	10,792,253		10,437,167
Loans and leases	$	53,056,223	$	52,505,168

The carrying amount of loans and leases at March 31, 2025, and December 31, 2024, includes net unamortized
(discounts)/premiums and net unamortized deferred (fees)/costs, in aggregate, of $9.2 million and $(1.8) million, respectively. Accrued interest receivable of $269.3 million and $265.0 million at March 31, 2025, and December 31, 2024, respectively, is excluded from the carrying amount of loans and leases and included in Accrued interest receivable and other assets on the accompanying Condensed Consolidated Balance Sheets. At March 31, 2025, the Company had pledged $17.7 billion and $5.1 billion of eligible loans as collateral to support borrowing capacity at the FHLB and FRB, respectively.

Non-Accrual and Past Due Loans and Leases

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

	March 31, 2025
(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	$	10,636	$	7,820	$	145	$	259,491	$	278,092	$	17,988,605	$	18,266,697
Asset-based	—		—		—		42,140		42,140		1,342,902		1,385,042
Commercial real estate	28,421		789		362		188,844		218,416		14,268,332		14,486,748
Multi-family	3,818		139		—		17,953		21,910		6,874,486		6,896,396
Equipment financing	6,370		2,545		—		19,568		28,483		1,200,604		1,229,087
Commercial portfolio	49,245		11,293		507		527,996		589,041		41,674,929		42,263,970
Residential	12,068		4,345		—		16,040		32,453		9,090,547		9,123,000
Home equity	6,979		2,294		—		19,546		28,819		1,363,310		1,392,129
Other consumer	494		162		—		165		821		276,303		277,124
Consumer portfolio	19,541		6,801		—		35,751		62,093		10,730,160		10,792,253
Total	$	68,786	$	18,094	$	507	$	563,747	$	651,134	$	52,405,089	$	53,056,223

	December 31, 2024
(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	$	3,949	$	3,318	$	—	$	248,078	$	255,345	$	17,782,597	$	18,037,942
Asset-based	—		21,997		—		20,787		42,784		1,361,223		1,404,007
Commercial real estate	22,115		558		—		120,151		142,824		14,349,612		14,492,436
Multi-family	2,508		26,377		—		18,043		46,928		6,851,672		6,898,600
Equipment financing	6,096		3,300		—		19,367		28,763		1,206,253		1,235,016
Commercial portfolio	34,668		55,550		—		426,426		516,644		41,551,357		42,068,001
Residential	9,595		4,604		—		12,750		26,949		8,826,720		8,853,669
Home equity	6,273		2,381		—		21,425		30,079		1,397,613		1,427,692
Other consumer	349		162		—		124		635		155,171		155,806
Consumer portfolio	16,217		7,147		—		34,299		57,663		10,379,504		10,437,167
Total	$	50,885	$	62,697	$	—	$	460,725	$	574,307	$	51,930,861	$	52,505,168

(1)At March 31, 2025, and December 31, 2024, there were $72.1 million and $32.7 million, respectively, of commercial loans that had reached their contractual maturity but were actively in the process of being refinanced with the Company. Due to the status of these refinancings, these commercial loans have been reported as current in the tables above.

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

	March 31, 2025				December 31, 2024
(In thousands)	Non-accrual		Non-accrual with No Allowance		Non-accrual		Non-accrual with No Allowance
Commercial non-mortgage	$	259,491	$	65,707	$	248,078	$	50,943
Asset-based	42,140		18,297		20,787		1,080
Commercial real estate	188,844		42,022		120,151		26,666
Multi-family	17,953		17,953		18,043		17,953
Equipment financing	19,568		124		19,367		1,809
Commercial portfolio	527,996		144,103		426,426		98,451
Residential	16,040		6,254		12,750		6,923
Home equity	19,546		11,754		21,425		12,225
Other consumer	165		2		124		3
Consumer portfolio	35,751		18,010		34,299		19,151
Total	$	563,747	$	162,113	$	460,725	$	117,602

Allowance for Credit Losses on Loans and Leases

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

	Three months ended March 31,
	2025						2024
(In thousands)	Commercial Portfolio		Consumer Portfolio		Total		Commercial Portfolio		Consumer Portfolio		Total
ACL on loans and leases:
Balance, beginning of period	$	635,871	$	53,695	$	689,566	$	577,663	$	58,074	$	635,737
Provision (benefit)	68,203		10,509		78,712		49,354		(6,160)		43,194
Charge-offs	(55,566)		(1,052)		(56,618)		(38,461)		(1,330)		(39,791)
Recoveries	942		719		1,661		553		1,749		2,302
Balance, end of period (1)	$	649,450	$	63,871	$	713,321	$	589,109	$	52,333	$	641,442
Individually evaluated for credit losses	93,102		710		93,812		60,786		4,209		64,995
Collectively evaluated for credit losses	$	556,348	$	63,161	$	619,509	$	528,323	$	48,124	$	576,447

(1)The $23.8 million increase in the ACL on loans and leases from December 31, 2024, to March 31, 2025, is primarily due to additional loan and lease reserves resulting from uncertainty in the current macroeconomic environment and risk rating migration, partially offset by net charge-offs, particularly across the commercial non-mortgage, commercial real estate, and asset-based categories.

Concentrations of Credit Risk

Concentrations of credit risk may exist when a number of borrowers are engaged in similar activities, or activities in the same geographic region, and have similar economic characteristics that would cause them to be similarly impacted by changes in economic or other conditions. Concentrations of credit risk are controlled and monitored as part of the Company’s credit policies and procedures. The Company is a regional financial services holding company in the Northeast U.S. with a commercial concentration primarily in five geographic markets: New York City, Other New York Counties, Connecticut, New Jersey, and Massachusetts; and secondarily in the Southeast and Other states. At March 31, 2025, and December 31, 2024, the Company’s concentration of credit risk associated with commercial real estate and multi-family loans, in aggregate, represented 40.3% and 40.7% of total loans and leases, respectively. At both March 31, 2025, and December 31, 2024, the Company’s concentration of credit risk associated with commercial non-mortgage loans represented 34.4% of total loans and leases.

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. An (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 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 at least quarterly. Factors such as past due status, employment status, collateral, geography, loans discharged in bankruptcy, and the status of first lien position loans on second lien position loans, are also considered to be consumer portfolio credit quality indicators. For portfolio monitoring purposes, the Company estimates the current value of property secured as collateral for home equity and residential first mortgage lending products on an ongoing basis. The estimate is based on home price indices compiled by the S&P/Case-Shiller Home Price Indices. Real estate price data is applied to the loan portfolios taking into account the age of the most recent valuation and geographic area.

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

	March 31, 2025
(In thousands)	2025		2024		2023		2022		2021		Prior		Revolving Loans Amortized Cost Basis		Total
Commercial non-mortgage:
Risk rating:
Pass	$	589,610	$	2,811,820	$	1,849,511	$	2,610,552	$	1,122,264	$	1,671,176	$	6,505,435	$	17,160,368
Special mention	—		31,408		53,061		101,730		50,937		30,667		39,155		306,958
Substandard	697		24,024		149,521		285,110		92,091		78,062		169,839		799,344
Doubtful	—		—		—		—		1		25		1		27
Total commercial non-mortgage	590,307		2,867,252		2,052,093		2,997,392		1,265,293		1,779,930		6,714,430		18,266,697
Current period gross write-offs	—		959		5,507		5,742		35		3,109		12,677		28,029
Asset-based:
Risk rating:
Pass	8,000		1,237		10,775		—		—		19,726		1,105,821		1,145,559
Special mention	1,620		—		—		—		—		5,021		43,938		50,579
Substandard	—		—		2,535		—		—		952		185,417		188,904
Total asset-based	9,620		1,237		13,310		—		—		25,699		1,335,176		1,385,042
Current period gross write-offs	—		—		—		—		—		—		10,055		10,055
Commercial real estate:
Risk rating:
Pass	581,951		1,942,913		2,302,313		2,933,804		1,343,779		4,179,679		204,251		13,488,690
Special mention	—		—		43,961		151,332		—		71,182		—		266,475
Substandard	—		1,238		118,473		68,378		154,073		380,569		8,852		731,583
Total commercial real estate	581,951		1,944,151		2,464,747		3,153,514		1,497,852		4,631,430		213,103		14,486,748
Current period gross write-offs	—		—		13,986		256		406		2,583		—		17,231
Multi-family:
Risk rating:
Pass	22,763		586,211		1,356,553		1,402,923		859,681		2,270,701		17,000		6,515,832
Special mention	—		—		—		114,846		22,751		105,953		—		243,550
Substandard	—		—		14,321		16,727		27,027		78,939		—		137,014
Total multi-family	22,763		586,211		1,370,874		1,534,496		909,459		2,455,593		17,000		6,896,396
Current period gross write-offs	—		—		—		—		—		175		—		175
Equipment financing:
Risk rating:
Pass	92,887		366,019		223,425		190,593		108,200		180,836		—		1,161,960
Special mention	—		1,242		5,251		—		49		—		—		6,542
Substandard	—		541		14,469		19,500		16,003		10,072		—		60,585
Total equipment financing	92,887		367,802		243,145		210,093		124,252		190,908		—		1,229,087
Current period gross write-offs	—		—		67		—		9		—		—		76
Total commercial portfolio	1,297,528		5,766,653		6,144,169		7,895,495		3,796,856		9,083,560		8,279,709		42,263,970
Current period gross write-offs	$	—	$	959	$	19,560	$	5,998	$	450	$	5,867	$	22,732	$	55,566

	December 31, 2024
(In thousands)	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Total
Commercial non-mortgage:
Risk rating:
Pass	$	2,917,048	$	1,916,905	$	2,818,720	$	1,100,575	$	562,252	$	1,211,312	$	6,325,637	$	16,852,449
Special mention	31,587		66,770		156,555		51,055		30,669		4,203		44,017		384,856
Substandard	56,307		125,735		237,362		92,134		16,466		63,998		208,608		800,610
Doubtful	—		—		—		1		—		25		1		27
Total commercial non-mortgage	3,004,942		2,109,410		3,212,637		1,243,765		609,387		1,279,538		6,578,263		18,037,942
Current period gross write-offs	—		11,894		45,308		10,668		3,842		3,385		15,169		90,266
Asset-based:
Risk rating:
Pass	1,250		11,684		—		—		—		20,255		1,132,901		1,166,090
Special mention	—		—		—		—		—		5,226		90,372		95,598
Substandard	—		2,562		—		—		—		1,239		138,518		142,319
Total asset-based	1,250		14,246		—		—		—		26,720		1,361,791		1,404,007
Current period gross write-offs	—		—		—		—		—		—		6,091		6,091
Commercial real estate:
Risk rating:
Pass	1,867,468		2,334,965		3,186,098		1,462,814		944,367		3,465,817		197,998		13,459,527
Special mention	—		12,809		175,252		37,307		37,469		64,483		—		327,320
Substandard	—		131,108		69,829		121,139		112,582		262,079		8,852		705,589
Total commercial real estate	1,867,468		2,478,882		3,431,179		1,621,260		1,094,418		3,792,379		206,850		14,492,436
Current period gross write-offs	—		854		1,244		1,579		15,477		22,674		—		41,828
Multi-family:
Risk rating:
Pass	582,363		1,394,855		1,314,395		862,273		245,802		2,179,207		16,991		6,595,886
Special mention	—		14,365		93,396		18,790		70,908		8,588		—		206,047
Substandard	—		—		16,761		27,102		26,720		26,084		—		96,667
Total multi-family	582,363		1,409,220		1,424,552		908,165		343,430		2,213,879		16,991		6,898,600
Current period gross write-offs	—		—		—		4,955		6,264		11,678		—		22,897
Equipment financing:
Risk rating:
Pass	382,783		242,440		207,081		126,399		83,838		124,910		—		1,167,451
Special mention	1,298		231		—		55		—		—		—		1,584
Substandard	572		16,228		18,341		16,970		5,514		8,356		—		65,981
Total equipment financing	384,653		258,899		225,422		143,424		89,352		133,266		—		1,235,016
Current period gross write-offs	—		5,146		1,705		52		—		3,475		—		10,378
Total commercial portfolio	5,840,676		6,270,657		8,293,790		3,916,614		2,136,587		7,445,782		8,163,895		42,068,001
Current period gross write-offs	$	—	$	17,894	$	48,257	$	17,254	$	25,583	$	41,212	$	21,260	$	171,460

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

	March 31, 2025
(In thousands)	2025		2024		2023		2022		2021		Prior		Revolving Loans Amortized Cost Basis		Total
Residential:
Risk rating:
800+	$	54,360	$	466,968	$	289,341	$	908,689	$	1,065,848	$	1,308,236	$	—	$	4,093,442
740-799	197,127		616,387		242,333		571,212		665,571		852,295		—		3,144,925
670-739	29,925		170,615		121,947		287,984		260,903		650,268		—		1,521,642
580-669	612		21,028		21,521		62,529		44,028		119,859		—		269,577
579 and below	45		750		2,669		14,266		21,147		54,537		—		93,414
Total residential	282,069		1,275,748		677,811		1,844,680		2,057,497		2,985,195		—		9,123,000
Current period gross write-offs	—		—		—		—		—		15		—		15
Home equity:
Risk rating:
800+	2,601		13,140		25,403		24,795		30,267		73,551		347,289		517,046
740-799	2,375		11,925		19,149		18,099		24,747		41,401		312,316		430,012
670-739	4,034		10,122		12,891		11,412		12,676		32,253		233,267		316,655
580-669	261		1,780		2,926		2,867		1,988		13,393		67,227		90,442
579 and below	—		57		1,114		2,235		680		3,641		30,247		37,974
Total home equity	9,271		37,024		61,483		59,408		70,358		164,239		990,346		1,392,129
Current period gross write-offs	—		51		—		—				6		101		158
Other consumer:
Risk rating:
800+	1,294		8,541		268		182		1,738		246		13,253		25,522
740-799	16,146		76,296		522		213		145		272		7,459		101,053
670-739	23,395		103,824		513		352		238		213		16,803		145,338
580-669	556		2,487		116		104		57		109		1,102		4,531
579 and below	3		29		67		61		23		26		471		680
Total other consumer	41,394		191,177		1,486		912		2,201		866		39,088		277,124
Current period gross write-offs	615		193		8		—		—		25		38		879
Total consumer portfolio	332,734		1,503,949		740,780		1,905,000		2,130,056		3,150,300		1,029,434		10,792,253
Current period gross write-offs	$	615	$	244	$	8	$	—	$	—	$	46	$	139	$	1,052

	December 31, 2024
(In thousands)	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Total
Residential:
Risk rating:
800+	$	312,771	$	299,006	$	909,109	$	1,097,807	$	433,950	$	956,478	$	—	$	4,009,121
740-799	649,118		258,699		567,545		656,599		235,749		623,989		—		2,991,699
670-739	172,886		123,354		317,373		271,247		80,318		550,252		—		1,515,430
580-669	16,643		13,382		55,507		35,292		16,738		109,240		—		246,802
579 and below	237		2,680		12,617		21,387		3,791		49,905		—		90,617
Total residential	1,151,655		697,121		1,862,151		2,082,332		770,546		2,289,864		—		8,853,669
Current period gross write-offs	—		—		—		—		—		147		—		147
Home equity:
Risk rating:
800+	12,313		25,226		23,512		32,695		22,705		53,844		365,741		536,036
740-799	12,238		21,831		20,718		23,517		10,861		33,703		330,691		453,559
670-739	11,416		14,298		12,732		13,074		6,242		28,638		224,449		310,849
580-669	1,755		2,570		1,685		2,172		754		9,471		67,745		86,152
579 and below	58		799		2,401		726		429		4,254		32,429		41,096
Total home equity	37,780		64,724		61,048		72,184		40,991		129,910		1,021,055		1,427,692
Current period gross write-offs	—		—		—		—		2		444		351		797
Other consumer:
Risk rating:
800+	4,920		312		218		1,765		50		284		31,549		39,098
740-799	45,001		721		301		165		124		266		3,550		50,128
670-739	57,952		432		372		313		220		188		3,349		62,826
580-669	1,417		116		105		69		25		81		1,150		2,963
579 and below	29		93		63		28		9		—		569		791
Total other consumer	109,319		1,674		1,059		2,340		428		819		40,167		155,806
Current period gross write-offs	3,467		17		34		20		113		193		222		4,066
Total consumer portfolio	1,298,754		763,519		1,924,258		2,156,856		811,965		2,420,593		1,061,222		10,437,167
Current period gross write-offs	$	3,467	$	17	$	34	$	20	$	115	$	784	$	573	$	5,010

Collateral Dependent Loans and Leases

A non-accrual loan or lease is considered collateral dependent when the borrower is experiencing financial difficulty and when repayment is substantially expected to be provided through the operation or sale of collateral. Commercial non-mortgage loans,
asset-based loans, 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.

At March 31, 2025, and December 31, 2024, the carrying amount of collateral dependent loans was $228.4 million and $139.5 million, respectively, for commercial loans and leases, and $26.6 million and $29.1 million, respectively, for consumer loans. The ACL for collateral dependent loans and leases is individually assessed based on the fair value of the collateral less costs to sell at the reporting date. At March 31, 2025, and December 31, 2024, the collateral value associated with collateral dependent loans and leases was $253.0 million and $200.1 million, respectively.

Modifications to Borrowers Experiencing Financial Difficulty

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 extensions, 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 that allow borrowers to delay a scheduled loan payment to a later date. Deferred loan payments do not affect the original contractual maturity terms of the loan. Modifications that result in only an insignificant payment delay are not disclosed. The Company generally considers a payment delay of three months or less to be 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 generally evaluates all 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 tables summarize the amortized cost basis at March 31, 2025, and 2024, of loans modified to borrowers experiencing financial difficulty, disaggregated by class and type of concession granted:

	Three months ended March 31, 2025
(In thousands)	Term Extension		Payment Delay		Combination - Term Extension and Interest Rate Reduction		Total		% of Total Class (2)
Commercial non-mortgage	$	43,880	$	24,106	$	115	$	68,101	0.4	%
Commercial real estate	20,700		512		—		21,212		0.1
Multi-family	2,414		—		—		2,414		—
Equipment financing	207		—		—		207		—
Residential	—		—		900		900		—
Home equity	—		—		40		40		—
Total (1)	$	67,201	$	24,618	$	1,055	$	92,874	0.2	%

	Three months ended March 31, 2024
(In thousands)	Interest Rate Reduction		Term Extension		Payment Delay		Combination - Term Extension and Interest Rate Reduction		Total		% of Total Class (2)
Commercial non-mortgage	$	1,934	$	18,124	$	50,038	$	1,099	$	71,195	0.4	%
Asset-based	—		1,667		—		—		1,667		0.1
Commercial real estate	—		7,753		—		—		7,753		0.1
Multi-family	—		49,990		—		—		49,990		0.6
Equipment financing	—		556		—		—		556		—
Residential	629		—		—		135		764		—
Home equity	—		—		—		65		65		—
Total (1)	$	2,563	$	78,090	$	50,038	$	1,299	$	131,990	0.3	%

(1)The total amortized cost excludes accrued interest receivable of $0.1 million and $0.8 million for the three months ended March 31, 2025, and 2024, respectively.

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

The following tables describe the financial effect of the modifications made to borrowers experiencing financial difficulty:

	Three months ended March 31, 2025
	Financial Effect (1)
Term Extension:
Commercial non-mortgage	Extended term by a weighted average of 1.3 years
Commercial real estate	Extended term by a weighted average of 0.9 years
Multi-family	Extended term by a weighted average of 0.7 years
Payment Delay:
Commercial non-mortgage	Provided payment deferrals for a weighted average of 0.5 years

	Three months ended March 31, 2024
	Financial Effect (1)
Interest Rate Reduction:
Commercial non-mortgage	Reduced weighted average interest rate by 2.5%
Term Extension:
Commercial non-mortgage	Extended term by a weighted average of 0.5 years
Asset-based	Extended term by a weighted average of 0.3 years
Commercial real estate	Extended term by a weighted average of 0.3 years
Multi-family	Extended term by a weighted average of 0.7 years
Payment Delay:
Commercial non-mortgage	Provided partial payment deferrals for a weighted average of 0.5 years

(1)Certain disclosures related to financial effects of modifications do not include those deemed to be immaterial.

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 tables summarize the aging of loans that had been modified in the twelve months preceding March 31, 2025 and March 31, 2024:

	March 31, 2025
(In thousands)	Current		30-59 Days Past Due		60-89 Days Past Due		90 or More Days Past Due		Non-Accrual		Total
Commercial non-mortgage	$	57,856	$	1,015	$	—	$	—	$	148,972	$	207,843
Asset-based	23,718		—		—		—		—		23,718
Commercial real estate	116,386		—		—		—		30,012		146,398
Multi-family	692		1,721		—		—		—		2,413
Equipment financing	338		13		—		—		—		351
Residential	716		—		—		—		1,074		1,790
Home equity	420		—		—		—		464		884
Total	$	200,126	$	2,749	$	—	$	—	$	180,522	$	383,397
	March 31, 2024
(In thousands)	Current		30-59 Days Past Due		60-89 Days Past Due		90 or More Days Past Due		Non-Accrual		Total
Commercial non-mortgage	$	77,451	$	—	$	19	$	—	$	97,587	$	175,057
Asset-based	42,331		—		—		—		—		42,331
Commercial real estate	24,859		—		—		—		169		25,028
Multi-family	—		18,103		22,406		—		9,481		49,990
Equipment financing	1,762		—		—		—		317		2,079
Residential	1,258		—		—		—		764		2,022
Home equity	510		—		—		—		86		596
Total	$	148,171	$	18,103	$	22,425	$	—	$	108,404	$	297,103

Loans made to borrowers experiencing financial difficulty that were modified in the preceding twelve months and that had a payment default during the three months ended March 31, 2025, were not significant. There were $17.8 million of commercial non-mortgage loans made to borrowers experiencing financial difficulty that were modified in the preceding twelve months and that had a payment default during the three months ended March 31, 2024.

For the purposes of this disclosure, a payment default is defined as 90 or more days past due. 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.