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Loan Portfolio and Credit Quality (Tables)
 12 Months Ended
Dec. 31, 2018
Receivables [Abstract]  
Summary of the Loan Portfolio
The following table presents a summary of the loan portfolio based on the portfolio segment as of the dates indicated:
 
December 31, 2018
 
December 31, 2017
 
(In thousands)
Commercial and industrial
$
623,037

 
$
520,992

Commercial tax-exempt
451,671

 
418,698

Total commercial and industrial
1,074,708

 
939,690

Commercial real estate
2,395,692

 
2,440,220

Construction and land
240,306

 
164,990

Residential
2,948,973

 
2,682,533

Home equity
90,421

 
99,958

Consumer and other
143,058

 
177,637

Total
$
6,893,158

 
$
6,505,028
Schedule of Nonaccrual Loans Receivable
The following table presents nonaccrual loans receivable by class of receivable as of the dates indicated:
 
December 31, 2018
 
December 31, 2017
 
(In thousands)
Commercial and industrial
$
2,554

 
$
748

Commercial tax-exempt
—

 
—

Total commercial and industrial
2,554

 
748

Commercial real estate
546

 
1,985

Construction and land
—

 
110

Residential
7,914

 
8,470

Home equity
3,031

 
2,840

Consumer and other
12

 
142

Total
$
14,057

 
$
14,295
Past Due Financing Receivables
The following tables show the payment status of loans receivable by class of receivable as of the dates indicated:
 
December 31, 2018
 
Accruing Past Due
 
Nonaccrual Loans
 
 
 
 
 
30-59
Days
Past
Due
 
60-89
Days
Past
Due
 
Total
Accruing
Past
Due
 
Current
 
30-89
Days
Past
Due
 
90 Days
or
Greater
Past
Due
 
Total
Non-
accrual
Loans
 
Current
Accruing
Loans
 
Total
Loans
Receivable
 
(In thousands)
Commercial and industrial
$
9,794

 
$
—

 
$
9,794

 
$
979

 
$
—

 
$
1,575

 
$
2,554

 
$
610,689

 
$
623,037

Commercial tax-exempt
—

 
—

 
—

 
—

 
—

 
—

 
—

 
451,671

 
451,671

Commercial real estate
—

 
—

 
—

 
—

 
—

 
546

 
546

 
2,395,146

 
2,395,692

Construction and land
—

 
—

 
—

 
—

 
—

 
—

 
—

 
240,306

 
240,306

Residential
6,477

 
366

 
6,843

 
2,639

 
716

 
4,559

 
7,914

 
2,934,216

 
2,948,973

Home equity
252

 
350

 
602

 
—

 
48

 
2,983

 
3,031

 
86,788

 
90,421

Consumer and other
17

 
5,043

 
5,060

 
8

 
4

 
—

 
12

 
137,986

 
143,058

Total
$
16,540

 
$
5,759

 
$
22,299

 
$
3,626

 
$
768

 
$
9,663

 
$
14,057

 
$
6,856,802

 
$
6,893,158



 
December 31, 2017
 
Accruing Past Due
 
Nonaccrual Loans
 
 
 
 
 
30-59
Days
Past
Due
 
60-89
Days
Past
Due
 
Total
Accruing
Past
Due
 
Current
 
30-89
Days
Past
Due
 
90 Days
or
Greater
Past
Due
 
Total
Non-
accrual
Loans
 
Current
Accruing
Loans
 
Total
Loans
Receivable
 
(In thousands)
Commercial and industrial
$
10,903

 
$
849

 
$
11,752

 
$
355

 
$
—

 
$
393

 
$
748

 
$
508,492

 
$
520,992

Commercial tax-exempt
—

 
—

 
—

 
—

 
—

 
—

 
—

 
418,698

 
418,698

Commercial real estate
4,043

 
—

 
4,043

 
163

 
—

 
1,822

 
1,985

 
2,434,192

 
2,440,220

Construction and land
—

 
—

 
—

 
—

 
—

 
110

 
110

 
164,880

 
164,990

Residential
7,239

 
1,635

 
8,874

 
805

 
3,172

 
4,493

 
8,470

 
2,665,189

 
2,682,533

Home equity
355

 
—

 
355

 
—

 
71

 
2,769

 
2,840

 
96,763

 
99,958

Consumer and other
24

 
—

 
24

 
17

 
125

 
—

 
142

 
177,471

 
177,637

Total
$
22,564

 
$
2,484

 
$
25,048

 
$
1,340

 
$
3,368

 
$
9,587

 
$
14,295

 
$
6,465,685

 
$
6,505,028
Schedule of Loan Portfolio's Credit Risk
The following tables present the loan portfolio’s credit risk profile by internally assigned grade and class of receivable as of the dates indicated:
 
December 31, 2018
 
By Loan Grade or Nonaccrual Status
 
 
 
Pass
 
Special
Mention
 
Accruing
Classified (1)
 
Nonaccrual
Loans
 
Total
 
(In thousands)
Commercial and industrial
$
581,278

 
$
16,213

 
$
22,992

 
$
2,554

 
$
623,037

Commercial tax-exempt
444,835

 
2,785

 
4,051

 
—

 
451,671

Commercial real estate
2,314,223

 
53,871

 
27,052

 
546

 
2,395,692

Construction and land
234,647

 
5,659

 
—

 
—

 
240,306

Residential
2,941,059

 
—

 
—

 
7,914

 
2,948,973

Home equity
87,390

 
—

 
—

 
3,031

 
90,421

Consumer and other
143,046

 
—

 
—

 
12

 
143,058

Total
$
6,746,478

 
$
78,528

 
$
54,095

 
$
14,057

 
$
6,893,158



 
December 31, 2017
 
By Loan Grade or Nonaccrual Status
 
 
 
Pass
 
Special
Mention
 
Accruing
Classified (1)
 
Nonaccrual
Loans
 
Total
 
(In thousands)
Commercial and industrial
$
496,395

 
$
12,898

 
$
10,951

 
$
748

 
$
520,992

Commercial tax-exempt
413,139

 
5,559

 
—

 
—

 
418,698

Commercial real estate
2,346,833

 
56,947

 
34,455

 
1,985

 
2,440,220

Construction and land
146,514

 
11,770

 
6,596

 
110

 
164,990

Residential
2,672,714

 
—

 
1,349

 
8,470

 
2,682,533

Home equity
97,118

 
—

 
—

 
2,840

 
99,958

Consumer and other
177,494

 
—

 
1

 
142

 
177,637

Total
$
6,350,207

 
$
87,174

 
$
53,352

 
$
14,295

 
$
6,505,028


___________________
(1) Accruing Classified includes both Substandard and Doubtful classifications.
Impaired Financing Receivables
The following tables present, by class of receivable, the balance of impaired loans with and without a related allowance, the associated allowance for those impaired loans with a related allowance, and the total unpaid principal on impaired loans:
 
As of and for the year ended December 31, 2018
 
Recorded Investment (1)
 
Unpaid Principal Balance
 
Related Allowance
 
Average Recorded Investment
 
Interest Income Recognized while Impaired
 
(In thousands)
With no related allowance recorded:
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
1,435

 
$
2,397

 
n/a
 
$
1,614

 
$
69

Commercial tax-exempt
—

 
—

 
n/a
 
—

 
—

Commercial real estate
546

 
900

 
n/a
 
2,002

 
1,544

Construction and land
—

 
—

 
n/a
 
50

 
16

Residential
8,403

 
8,764

 
n/a
 
9,638

 
408

Home equity
990

 
990

 
n/a
 
1,041

 
24

Consumer and other
—

 
—

 
n/a
 
—

 
—

Subtotal
$
11,374

 
$
13,051

 
n/a
 
$
14,345

 
$
2,061

With an allowance recorded:
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
1,770

 
$
1,972

 
$
598

 
$
631

 
$
15

Commercial tax-exempt
—

 
—

 
—

 
—

 
—

Commercial real estate
—

 
—

 
—

 
4,087

 
705

Construction and land
—

 
—

 
—

 
—

 
—

Residential
780

 
780

 
75

 
785

 
22

Home equity
1,719

 
1,719

 
562

 
959

 
11

Consumer and other
—

 
—

 
—

 
10

 
3

Subtotal
$
4,269

 
$
4,471

 
$
1,235

 
$
6,472

 
$
756

Total:
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
3,205

 
$
4,369

 
$
598

 
$
2,245

 
$
84

Commercial tax-exempt
—

 
—

 
—

 
—

 
—

Commercial real estate
546

 
900

 
—

 
6,089

 
2,249

Construction and land
—

 
—

 
—

 
50

 
16

Residential
9,183

 
9,544

 
75

 
10,423

 
430

Home equity
2,709

 
2,709

 
562

 
2,000

 
35

Consumer and other
—

 
—

 
—

 
10

 
3

Total
$
15,643

 
$
17,522

 
$
1,235

 
$
20,817

 
$
2,817

___________________
(1)
Recorded investment represents the client loan balance net of historical charge-offs and historical nonaccrual interest paid, which was applied to principal.
 
As of and for the year ended December 31, 2017
 
Recorded Investment (1)
 
Unpaid Principal Balance
 
Related Allowance
 
Average Recorded Investment
 
Interest Income Recognized while Impaired
 
(In thousands)
With no related allowance recorded:
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
1,434

 
$
2,238

 
n/a
 
$
1,594

 
$
50

Commercial tax-exempt
—

 
—

 
n/a
 
1,001

 
80

Commercial real estate
1,832

 
3,453

 
n/a
 
3,098

 
1,546

Construction and land
109

 
109

 
n/a
 
172

 
—

Residential
9,337

 
9,709

 
n/a
 
9,033

 
360

Home equity
1,779

 
1,779

 
n/a
 
413

 
—

Consumer and other
—

 
—

 
n/a
 
—

 
—

Subtotal
$
14,491

 
$
17,288

 
n/a
 
$
15,311

 
$
2,036

With an allowance recorded:
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
242

 
$
242

 
$
58

 
$
156

 
$
4

Commercial tax-exempt
—

 
—

 
—

 
—

 
—

Commercial real estate
6,855

 
7,284

 
362

 
6,980

 
322

Construction and land
—

 
—

 
—

 
—

 
—

Residential
828

 
828

 
89

 
2,469

 
89

Home equity
36

 
36

 
20

 
36

 
1

Consumer and other
125

 
250

 
125

 
10

 
—

Subtotal
$
8,086

 
$
8,640

 
$
654

 
$
9,651

 
$
416

Total:
 
 
 
 
 
 
 
 
 
Commercial and industrial
$
1,676

 
$
2,480

 
$
58

 
$
1,750

 
$
54

Commercial tax-exempt
—

 
—

 
—

 
1,001

 
80

Commercial real estate
8,687

 
10,737

 
362

 
10,078

 
1,868

Construction and land
109

 
109

 
—

 
172

 
—

Residential
10,165

 
10,537

 
89

 
11,502

 
449

Home equity
1,815

 
1,815

 
20

 
449

 
1

Consumer and other
125

 
250

 
125

 
10

 
—

Total
$
22,577

 
$
25,928

 
$
654

 
$
24,962

 
$
2,452

____________________
(1)
Recorded investment represents the client loan balance net of historical charge-offs and historical nonaccrual interest paid, if applicable, which was applied to principal.
Troubled Debt Restructurings on Financing Receivables
The following tables present the balance of TDRs that were restructured or defaulted during the periods indicated:
 
As of and for the year ended December 31, 2018

Restructured Year to Date
 
TDRs that defaulted that
were restructured in
prior twelve months
 
# of Loans
 
Pre-
modification
recorded
investment
 
Post-
modification
recorded
investment
 
# of Loans
 
Post-
modification
recorded
investment
 
(In thousands, except number of loans)
Commercial and industrial
3

 
$
1,249

 
$
1,249

 
1

 
$
150

Commercial tax-exempt
—

 
—

 
—

 
—

 
—

Commercial real estate
—

 
—

 
—

 
—

 
—

Construction and land
—

 
—

 
—

 
—

 
—

Residential
2

 
2,175

 
2,210

 
—

 
—

Home equity
—

 
—

 
—

 
—

 
—

Consumer and other
—

 
—

 
—

 
—

 
—

Total
5

 
$
3,424

 
$
3,459

 
1

 
$
150


 
As of and for the year ended December 31, 2018
 
Extension of Term
 
Temporary Rate Reduction
 
Payment Deferral
 
Combination of Concessions (1)
 
Total Concessions
 
# of Loans
 
Post-
modifi-
cation
recorded
invest-
ment
 
# of Loans
 
Post-
modifi-
cation
recorded
invest-
ment
 
# of Loans
 
Post-
modifi-
cation
recorded
invest-
ment
 
# of Loans
 
Post-
modifi-
cation
recorded
invest-
ment
 
# of Loans
 
Post-
modifi-
cation
recorded
invest-
ment
 
(In thousands, except number of loans)
Commercial and industrial
2

 
$
250

 
—

 
$
—

 
—

 
$
—

 
1

 
$
999

 
3

 
$
1,249

Commercial tax-exempt
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
$
—

Commercial real estate
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
$
—

Construction and Land
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
$
—

Residential
—

 
—

 
2

 
2,210

 
—

 
—

 
—

 
—

 
2

 
$
2,210

Home Equity
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
$
—

Consumer and other
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
$
—


 
As of and for the year ended December 31, 2017
 
Restructured Year to Date
 
TDRs that defaulted that
were restructured in
prior twelve months
 
# of Loans
 
Pre-
modification
recorded
investment
 
Post-
modification
recorded
investment
 
# of Loans
 
Post-
modification
recorded
investment
 
(In thousands, except number of loans)
Commercial and industrial
—

 
$
—

 
$
—

 
—

 
$
—

Commercial tax-exempt
—

 
—

 
—

 
—

 
—

Commercial real estate
—

 
—

 
—

 
—

 
—

Construction and land
—

 
—

 
—

 
—

 
—

Residential (1)
1

 
108

 
109

 
—

 
—

Home equity
—

 
—

 
—

 
—

 
—

Consumer and other
—

 
—

 
—

 
—

 
—

Total
1

 
$
108

 
$
109

 
—

 
$
—


____________________
(1)
Represents the following type of concession: temporary reduction of interest rate.
Loan Participation Amounts by Loan Type
Loan participations serviced for others and loans serviced for others are not included in the Company's total loans. The following table presents a summary of the loan participations serviced for others and loans serviced for others based on class of receivable as of the dates indicated:
 
December 31, 2018
 
December 31, 2017
 
(In thousands)
Commercial and industrial
$
8,024

 
$
8,484

Commercial tax-exempt
19,105

 
19,805

Commercial real estate
60,688

 
49,783

Construction and land
39,966

 
37,840

Total loan participations serviced for others
$
127,783

 
$
115,912

 
 
 
 
Residential
$
33,168

 
$
41,440

Total loans serviced for others
$
33,168

 
$
41,440