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Allowance for Credit Losses (Tables)
 6 Months Ended
Jun. 30, 2022
Receivables [Abstract]  
Allowance for Loan and Lease Losses by Portfolio Segment
The allowance for credit losses on loans is summarized in the following table:
For the Three Months Ended June 30,For the Six Months Ended June 30,
(in thousands)2022202120222021
Balance at beginning of the period$67,112 $67,252 $58,047 $71,124 
Initial allowance for credit losses on PCD loans— — 12,077 — 
Charge-offs on PCD loans— — (7,634)— 
Charge-offs(369)(1,861)(539)(3,132)
Recoveries510 312 672 519 
  Net recoveries (charge-offs)141 (1,549)(7,501)(2,613)
Provision (benefit) for credit loss - loans1,583 (5,314)6,213 (8,122)
Balance at end of the period$68,836 $60,389 $68,836 $60,389 
The following tables detail activity in the allowance for credit losses on loans by portfolio segment for the three and six months ended June 30, 2022 and 2021:
(in thousands)
Balance at March 31, 2022
Charge-offsRecoveriesProvision (Benefit) for Credit Loss
Balance at June 30, 2022
Non-owner occupied commercial$23,649 $— $4 $273 $23,926 
Owner occupied commercial6,125 (4)341 476 6,938 
Multifamily8,300 — — 141 8,441 
Non-owner occupied residential2,908 — — (15)2,893 
Commercial, industrial and other11,674 (305)33 (1,313)10,089 
Construction1,727 — — 1,210 2,937 
Equipment finance2,459 (24)64 (246)2,253 
Residential mortgage5,686 — — 893 6,579 
Consumer4,584 (36)68 164 4,780 
Total$67,112 $(369)$510 $1,583 $68,836 
(in thousands)
Balance at March 31, 2021
Charge-offsRecoveries(Benefit) Provision for Credit Loss
Balance at June 30, 2021
Non owner occupied commercial$23,880 $(1,650)$1 $(1,325)$20,906 
Owner occupied commercial4,003 — 9 88 4,100 
Multifamily7,508 — — (331)7,177 
Non owner occupied residential2,883 (3)11 (299)2,592 
Commercial, industrial and other12,139 (110)105 (1,645)10,489 
Construction1,129 — 42 (137)1,034 
Equipment finance6,264 (10)6 (1,140)5,120 
Residential mortgage3,781 (36)118 22 3,885 
Consumer5,665 (52)20 (547)5,086 
Total$67,252 $(1,861)$312 $(5,314)$60,389 
(in thousands)
Balance at December 31, 2021
Initial allowance for credit losses on PCD loansCharge-offsRecoveries(Benefit) Provision for Credit Loss
Balance at June 30, 2022
Non-owner occupied commercial$20,071 $1,312 $(4)$4 $2,543 $23,926 
Owner occupied commercial3,964 1,137 (38)351 1,524 6,938 
Multifamily8,309 4 — — 128 8,441 
Non-owner occupied residential2,380 175 — 14 324 2,893 
Commercial, industrial and other9,891 2,413 (1,128)78 (1,165)10,089 
Construction838 6,843 (6,807)3 2,060 2,937 
Equipment finance3,663 — (121)79 (1,368)2,253 
Residential mortgage3,914 179 — 48 2,438 6,579 
Consumer5,017 14 (75)95 (271)4,780 
Total$58,047 $12,077 $(8,173)$672 $6,213 $68,836 
(in thousands)
Balance at December 31, 2020
Charge-offsRecoveries(Benefit) Provision for Credit Loss
Balance at June 30, 2021
Non owner occupied commercial$25,910 $(2,243)$3 $(2,764)$20,906 
Owner occupied commercial3,955 (78)17 206 4,100 
Multifamily7,253 — — (76)7,177 
Non owner occupied residential3,321 (212)13 (530)2,592 
Commercial, industrial and other13,665 (375)149 (2,950)10,489 
Construction786 — 67 181 1,034 
Equipment finance6,552 (104)17 (1,345)5,120 
Residential mortgage3,623 (36)176 122 3,885 
Consumer6,059 (84)77 (966)5,086 
Total$71,124 $(3,132)$519 $(8,122)$60,389 
The following tables present the recorded investment in loans by portfolio segment and the related allowance for credit losses at June 30, 2022 and December 31, 2021:
June 30, 2022Loans Allowance for Credit Losses
(in thousands) Individually evaluated for impairment Collectively evaluated for impairmentAcquired with deteriorated credit qualityTotalIndividually evaluated for impairmentCollectively evaluated for impairment Total
Non-owner occupied commercial$431 $2,725,169 $51,403 $2,777,003 $854 $23,072 $23,926 
Owner occupied commercial15,327 1,132,686 31,514 1,179,527 1,290 5,648 6,938 
Multifamily— 1,131,475 3,463 1,134,938 5 8,436 8,441 
Non-owner occupied residential462 214,394 6,483 221,339 153 2,740 2,893 
Commercial, industrial and other4,979 642,601 10,355 657,935 4,160 5,929 10,089 
Construction— 370,777 — 370,777 — 2,937 2,937 
Equipment finance— 134,136 — 134,136 — 2,253 2,253 
Residential mortgage— 620,981 1,436 622,417 138 6,441 6,579 
Consumer— 310,111 357 310,468 3 4,777 4,780 
Total loans$21,199 $7,282,330 $105,011 $7,408,540 $6,603 $62,233 $68,836 
December 31, 2021Loans Allowance for Credit Losses
(in thousands)Individually evaluated for impairmentCollectively evaluated for impairmentAcquired with deteriorated credit qualityTotalIndividually evaluated for impairmentCollectively evaluated for impairmentTotal
Non-owner occupied commercial$3,063 $2,313,047 $174 2,316,284 $— $20,071 $20,071 
Owner occupied commercial6,678 901,638 133 908,449 69 3,895 3,964 
Multifamily— 972,233 — 972,233 — 8,309 8,309 
Non-owner occupied residential2,567 174,463 67 177,097 — 2,380 2,380 
Commercial, industrial and other6,537 455,306 563 462,406 4,182 5,709 9,891 
Construction— 302,228 — 302,228 — 838 838 
Equipment finance— 123,212 — 123,212 — 3,663 3,663 
Residential mortgage1,416 437,294 — 438,710 — 3,914 3,914 
Consumer— 275,529 — 275,529 — 5,017 5,017 
Total loans$20,261 $5,954,950 $937 $5,976,148 $4,251 $53,796 $58,047 
The allowance for credit losses on securities is summarized in the following tables:
Available for SaleFor the Three Months Ended June 30,For the Six Months Ended June 30,
(in thousands)2022202120222021
Balance at beginning of the period$1,267 $144 $83 $2 
Provision for credit loss expense1,535 (123)2,719 19 
Balance at end of the period$2,802 $21 $2,802 $21 
Held to MaturityFor the Three Months Ended June 30,For the Six Months Ended June 30,
(in thousands)2022202120222021
Balance at beginning of the period$199 $— $181 $— 
Provision for credit loss expense(9)137 9 137 
Balance at end of the period$190 $137 $190 $137