Loans (Tables)

9 Months Ended

Sep. 30, 2021

The following sets forth the composition of the Company’s loan portfolio:


(in thousands)	September 30, 2021		December 31, 2020
Non-owner occupied commercial	$	2,300,637	$	2,398,946
Owner occupied commercial	884,144		827,092
Multifamily	907,903		813,225
Non-owner occupied residential	177,592		200,229
Commercial, industrial and other	473,324		718,189
Construction	332,868		266,883
Equipment finance	119,709		116,690
Residential mortgage	407,021		377,380
Home equity and consumer	277,604		302,598
Total	$	5,880,802	$	6,021,232

Credit Quality Indicators

The following table presents the risk category of loans by class of loan and vintage as of September 30, 2021:


	Term Loans by Origination Year
(in thousands)	2021		2020		2019		2018		2017		Pre-2017		Revolving Loans		Revolving to Term	Total
Non-owner occupied commercial
Pass	$	231,072	$	527,479	$	307,663	$	191,755	$	214,269	$	612,630	$	19,746	14	$	2,104,628
Watch	—		—		25,434		11,811		4,673		37,995		—		—	79,913
Special mention	—		3,353		2,731		8,274		14,757		29,028		30		—	58,173
Substandard	98		894		336		2,657		8,112		45,826		—		—	57,923
Total	231,170		531,726		336,164		214,497		241,811		725,479		19,776		14	2,300,637
Owner occupied commercial
Pass	166,660		130,638		103,320		61,259		50,889		275,250		6,725		52	794,793
Watch	—		—		2,171		1,220		282		18,708		20		—	22,401
Special mention	—		—		2,152		13,615		100		24,679		—		—	40,546
Substandard	5		—		18		2,647		1,311		22,423		—		—	26,404
Total	166,665		130,638		107,661		78,741		52,582		341,060		6,745		52	884,144
Multifamily
Pass	141,957		250,242		73,107		87,035		76,472		228,609		10,289		302	868,013
Watch	—		970		—		—		872		7,174		—		—	9,016
Special mention	—		12,115		—		—		2,391		4,310		—		—	18,816
Substandard	—		—		5,484		1,325		—		5,049		200		—	12,058
Total	141,957		263,327		78,591		88,360		79,735		245,142		10,489		302	907,903
Non-owner occupied residential
Pass	20,108		18,924		17,058		17,834		18,647		54,147		7,593		579	154,890
Watch	—		—		—		—		916		5,412		—		—	6,328
Special mention	—		—		1,023		841		474		286		515		—	3,139
Substandard	—		3,315		512		5,028		1,738		2,642		—		—	13,235
Total	20,108		22,239		18,593		23,703		21,775		62,487		8,108		579	177,592



Commercial, industrial and other
Pass	121,489		28,903		69,997		12,635		4,645		38,923		166,640		717	443,949
Watch	726		483		495		36		1,432		198		3,545		—	6,915
Special mention	—		—		—		258		1,976		771		3,554		—	6,559
Substandard	—		7,184		47		1,678		502		1,307		5,183		—	15,901
Total	122,215		36,570		70,539		14,607		8,555		41,199		178,922		717	473,324




Construction
Pass	69,225		101,557		59,474		33,870		30,095		3,753		—		—	297,974
Watch	—		—		—		12,664		12,078		—		—		—	24,742
Special mention	—		—		—		—		10,152		—		—		—	10,152

Total	69,225		101,557		59,474		46,534		52,325		3,753		—		—	332,868








Equipment finance
Pass	37,254		33,204		31,374		12,228		4,304		1,107		—		—	119,471


Substandard	156		—		—		57		25		—		—		—	238
Total	37,410		33,204		31,374		12,285		4,329		1,107		—		—	119,709


	Term Loans by Origination Year
(in thousands)	2021		2020		2019		2018		2017		Pre-2017		Revolving Loans		Revolving to Term		Total

Residential mortgage
Pass	118,452		116,567		28,856		26,376		9,946		106,566		—		—		406,763


Substandard	—		—		—		123		—		135		—		—		258
Total	118,452		116,567		28,856		26,499		9,946		106,701		—		—		407,021



Consumer
Pass	24,133		12,093		6,199		5,276		3,445		27,531		197,703		220		276,600


Substandard	42		—		—		—		1		318		266		377		1,004
Total	24,175		12,093		6,199		5,276		3,446		27,849		197,969		597		277,604
Total loans	$	931,377	$	1,247,921	$	737,451	$	510,502	$	474,504	$	1,554,777	$	422,009	$	2,261	$	5,880,802

The following table presents the risk category of loans by class of loan and vintage as of December 31, 2020:


	Term Loans by Origination Year
(in thousands)	2020		2019		2018		2017		2016		Pre-2016		Revolving Loans		Revolving to Term	Total
Non-owner occupied commercial
Pass	$	570,665	$	376,681	$	217,931	$	251,751	$	187,605	$	509,573	$	50,071	2,246	$	2,166,523
Watch	770		638		8,498		5,936		19,579		47,680		315		—	83,416
Special mention	3,400		3,131		8,377		9,115		19,936		7,894		2,895		—	54,748
Substandard	—		—		2,809		15,903		14,844		60,703		—		—	94,259
Total	574,835		380,450		237,615		282,705		241,964		625,850		53,281		2,246	2,398,946
Owner occupied commercial
Pass	116,512		76,224		80,244		81,215		62,118		245,330		11,072		179	672,894
Watch	11,347		22,932		411		3,651		8,038		23,612		673		—	70,664
Special mention	—		2,218		929		113		4,317		38,638		—		—	46,215
Substandard	434		16		3,038		641		5,770		27,376		44		—	37,319
Total	128,293		101,390		84,622		85,620		80,243		334,956		11,789		179	827,092
Multifamily
Pass	251,708		59,694		85,748		93,368		117,155		145,786		21,713		—	775,172
Watch	—		—		600		—		—		8,472		—		—	9,072
Special mention	9,781		—		—		2,399		—		1,124		—		—	13,304
Substandard	—		5,481		—		—		9,512		684		—		—	15,677
Total	261,489		65,175		86,348		95,767		126,667		156,066		21,713		—	813,225






Non-owner occupied residential
Pass	23,506		24,378		27,752		24,344		21,488		53,200		8,180		171	183,019
Watch	—		300		—		1,174		—		5,757		—		—	7,231
Special mention	—		496		1,199		392		293		656		655		—	3,691
Substandard	876		512		1,200		1,295		692		1,713		—		—	6,288
Total	24,382		25,686		30,151		27,205		22,473		61,326		8,835		171	200,229








Commercial, industrial and other
Pass	299,091		84,917		16,245		7,216		18,358		41,900		208,519		531	676,777
Watch	287		3,701		156		1,643		301		369		2,324		—	8,781
Special mention	—		—		884		764		2,275		—		4,727		—	8,650
Substandard	7,177		50		3,559		1,547		1,497		729		9,422		—	23,981
Total	306,555		88,668		20,844		11,170		22,431		42,998		224,992		531	718,189






Construction
Pass	56,734		77,117		69,627		29,303		7,681		328		2,190		—	242,980
Watch	—		—		2,183		11,959		—		—		—		—	14,142
Special mention	—		—		—		8,321		—		—		—		—	8,321
Substandard	—		—		—		206		719		515		—		—	1,440
Total	56,734		77,117		71,810		49,789		8,400		843		2,190		—	266,883


	Term Loans by Origination Year
(in thousands)	2020		2019		2018		2017		2016		Pre-2016		Revolving Loans		Revolving to Term		Total
Equipment finance
Pass	41,528		41,717		20,697		8,834		3,162		426		—		—		116,364


Substandard	—		98		88		74		64		2		—		—		326
Total	41,528		41,815		20,785		8,908		3,226		428		—		—		116,690
Residential mortgage
Pass	127,336		43,910		34,252		17,548		12,108		139,616		—		—		374,770


Substandard	—		52		233		1,015		—		1,310		—		—		2,610
Total	127,336		43,962		34,485		18,563		12,108		140,926		—		—		377,380
Consumer
Pass	15,999		9,844		7,490		5,333		4,632		31,861		224,549		166		299,874


Substandard	33		57		31		2		—		2,208		263		130		2,724
Total	16,032		9,901		7,521		5,335		4,632		34,069		224,812		296		302,598
Total loans	$	1,537,184	$	834,164	$	594,181	$	585,062	$	522,144	$	1,397,462	$	547,612	$	3,423	$	6,021,232

Age Analysis of Past Due Loans, Segregated by Class of Loans

The following tables present the payment status of the recorded investment in past due loans as of the periods noted, by class of loans.


September 30, 2021			Past Due
(in thousands)	Current		30 - 59 Days		60 - 89 Days		Greater than 89 days		Total		Total Loans
Non-owner occupied commercial	$	2,295,310	$	336	$	432	$	4,559	$	5,327	$	2,300,637
Owner occupied commercial	878,881		616		263		4,384		5,263		884,144
Multifamily	904,961		2,942		—		—		2,942		907,903
Non-owner occupied residential	174,412		102		2,156		922		3,180		177,592
Commercial, industrial and other	471,628		595		—		1,101		1,696		473,324
Construction	332,868		—		—		—		—		332,868
Equipment finance	119,439		44		156		70		270		119,709
Residential mortgage	406,091		807		—		123		930		407,021
Consumer	276,610		563		54		377		994		277,604
Total	$	5,860,200	$	6,005	$	3,061	$	11,536	$	20,602	$	5,880,802


December 31, 2020			Past Due
(in thousands)	Current		30 - 59 Days		60 - 89 Days		Greater than 89 days		Total		Total Loans
Non-owner occupied commercial	$	2,384,233	$	1,256	$	306	$	13,151	$	14,713	$	2,398,946
Owner occupied commercial	811,408		2,759		350		12,575		15,684		827,092
Multifamily	812,597		208		—		420		628		813,225
Non-owner occupied residential	197,802		482		294		1,651		2,427		200,229
Commercial, industrial and other	716,337		125		—		1,727		1,852		718,189
Construction	265,649		—		—		1,234		1,234		266,883
Equipment finance	115,124		1,338		98		130		1,566		116,690
Residential mortgage	374,370		1,046		156		1,808		3,010		377,380
Consumer	300,127		1,041		73		1,357		2,471		302,598
Total	$	5,977,647	$	8,255	$	1,277	$	34,053	$	43,585	$	6,021,232

Company's Non-Performing Assets and its Accruing Troubled Debt Restructurings, Excluding PCI Loans

The following tables present information on non-accrual loans at September 30, 2021 and December 31, 2020:


September 30, 2021
(in thousands)	Non-accrual		Interest Income Recognized on Non-accrual Loans		Amortized Cost Basis of Loans >= 90 days Past due but still accruing		Amortized Cost Basis of Non-accrual Loans without Related Allowance
Non-owner occupied commercial	$	4,748	$	—	$	—	$	4,284
Owner occupied commercial	4,656		—		—		4,221

Non-owner occupied residential	922		—		—		523
Commercial, industrial and other	1,108		—		—		477

Equipment finance	238		—		—		—
Residential mortgage	123		—		—		—
Consumer	453		—		—		—
Total	$	12,248	$	—	$	—	$	9,505


December 31, 2020
(in thousands)	Non-accrual		Interest Income Recognized on Non-accrual Loans		Amortized Cost Basis of Loans >= 90 days Past due but still accruing		Amortized Cost Basis of Non-accrual Loans without Related Allowance
Non-owner occupied commercial	$	16,537	$	—	$	—	$	14,719
Owner occupied commercial	14,271		—		—		12,371
Multifamily	626		—		—		—
Non-owner occupied residential	2,217		—		—		1,580
Commercial, industrial and other	2,633		—		—		1,418
Construction	1,440		—		—		1,234
Equipment finance	327		—		—		—
Residential mortgage	2,469		—		—		1,015
Consumer	2,243		—		1		—
Total	$	42,763	$	—	$	1	$	32,337