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Allowance for Credit Losses (Tables)
 12 Months Ended
Dec. 31, 2020
Receivables [Abstract]  
Allowance for Loan and Lease Losses by Portfolio Segment and Related Recorded Investment in Loans and Leases
Allowance for Credit Losses - Loans
The allowance for credit losses is summarized in the following table:
(in thousands)20202019
Balance at beginning of the period$40,003 $37,688 
Impact of adopting ASU 2016-136,656 — 
Charge-offs(2,053)(1,936)
Recoveries541 2,121 
  Net (charge-offs) recoveries(1,512)185 
Provision for credit loss - loans25,977 2,130 
Balance at end of the period$71,124 $40,003 
The following table details activity in the allowance for credit losses by portfolio segment for the years ended December 31, 2020 and 2019:
(in thousands)Balance at 12/31/2019Impact of adopting ASU 2016-13 Charge-offsRecoveriesProvision for Credit Loss - LoansBalance at 12/31/2020
Non-owner occupied commercial$— $17,027 $(53)$29 $8,907 $25,910 
Owner occupied commercial— 3,080 (369)21 1,223 3,955 
Multifamily— 3,717 — — 3,536 7,253 
Non-owner occupied residential— 2,801 — 22 498 3,321 
Commercial, secured by real estate (1)28,950 (28,950)— — — — 
Commercial, industrial and other3,289 2,850 (814)207 8,133 13,665 
Construction2,672 (2,396)(77)100 487 786 
Equipment finance957 2,481 (284)65 3,333 6,552 
Residential mortgage1,725 1,217 (116)21 776 3,623 
Consumer2,410 4,829 (340)76 (916)6,059 
Total$40,003 $6,656 $(2,053)$541 $25,977 $71,124 

(in thousands)Balance at 12/31/2018Charge-offsRecoveriesProvision for Loan LossBalance at 12/31/2019
Commercial, secured by real estate$27,881 $(544)$251 $1,362 $28,950 
Commercial, industrial and other1,742 (645)1,100 1,092 3,289 
Construction3,015 — 126 (469)2,672 
Equipment finance987 (414)332 52 957 
Residential mortgage1,566 (50)66 143 1,725 
Consumer2,497 (283)246 (50)2,410 
Total$37,688 $(1,936)$2,121 $2,130 $40,003 
(1) With the adoption of ASU 2016-13 in 2020, the Company expanded its portfolio segments.
The allowance for credit losses increased to $71.1 million, 1.18% of total loans, at December 31, 2020, compared to $40.0 million, 0.78% of total loans, at December 31, 2019. The increase from December 31, 2019, was primarily due to the adoption of ASU 2016-13 and the impact of COVID-19. The Company adopted ASU 2016-13 at December 31, 2020, and recorded an increase in the allowance for credit losses on loans of $6.7 million effective January 1, 2020.
The following tables present the recorded investment in loans by portfolio segment and the related allowance for credit or loan losses for the years ended December 31, 2020 and 2019:
December 31, 2020Loans Allowance for Credit Losses
(in thousands) Individually evaluated  Collectively evaluated Acquired with deteriorated credit qualityTotalIndividually evaluatedCollectively evaluated Total
Non-owner occupied commercial$12,112 $2,382,717 $4,117 $2,398,946 $355 $25,555 $25,910 
Owner occupied commercial16,547 809,935 610 827,092 96 3,859 3,955 
Multifamily— 813,225 — 813,225 — 7,253 7,253 
Non-owner occupied residential1,459 198,334 436 200,229 43 3,278 3,321 
Commercial, industrial and other1,596 715,129 1,464 718,189 830 12,835 13,665 
Construction515 265,649 719 266,883 — 786 786 
Equipment finance— 116,690 — 116,690 — 6,552 6,552 
Residential mortgage1,490 375,482 408 377,380 — 3,623 3,623 
Consumer— 302,099 499 302,598 31 6,028 6,059 
Total loans$33,719 $5,979,260 $8,253 $6,021,232 $1,355 $69,769 $71,124 

December 31, 2019Loans Allowance for Credit Losses
(in thousands)Individually evaluated for impairmentCollectively evaluated for impairmentAcquired with deteriorated credit qualityTotalIndividually evaluated for impairmentCollectively evaluated for impairmentTotal
Commercial, secured by real estate$15,948 $3,567,540 $6,105 3,589,593 $228 $28,722 $28,950 
Commercial, industrial and other1,504 429,486 944 431,934 5 3,284 3,289 
Construction1,663 332,722 784 335,169 — 2,672 2,672 
Equipment finance23 111,053 — 111,076 10 947 957 
Residential mortgage2,315 332,486 390 335,191 104 1,621 1,725 
Consumer671 336,781 525 337,977 5 2,405 2,410 
Total loans$22,124 $5,110,068 $8,748 $5,140,940 $352 $39,651 $40,003 
Debt Securities, Available-for-sale, Allowance for Credit Loss
The following table presents the activity in the allowance for credit losses for securities for the twelve months ended December 31, 2020 (in thousands):
(in thousands)Available for SaleHeld to MaturityTotal
Beginning balance$— $— $— 
Impact of adoption of ASU 2016-13— 30 30 
Provision for credit loss - securities2 (30)(28)
Ending balance
$2 $— $2 
Debt Securities, Held-to-maturity, Allowance for Credit Loss
The following table presents the activity in the allowance for credit losses for securities for the twelve months ended December 31, 2020 (in thousands):
(in thousands)Available for SaleHeld to MaturityTotal
Beginning balance$— $— $— 
Impact of adoption of ASU 2016-13— 30 30 
Provision for credit loss - securities2 (30)(28)
Ending balance
$2 $— $2 
Allowance for Off-Balance Sheet, Credit Loss
The following table summarizes the changes in the allowance for credit losses for off-balance sheet exposures for the year ended December 31, 2020 (in thousands):
Balance at beginning of the period$1,778 
Impact of adopting ASU 2016-13(498)
Provision for credit loss - off-balance sheet exposures1,273 
Balance at end of the period$2,553