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Allowance for Credit Losses (Tables)
 9 Months Ended
Sep. 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 September 30,For the Nine Months Ended September 30,
(in thousands)2022202120222021
Balance at beginning of the period$68,836 $60,389 $58,047 $71,124 
Initial allowance for credit losses on PCD loans— — 12,077 — 
Charge-offs on PCD loans— — (7,634)— 
Charge-offs(56)(996)(595)(4,128)
Recoveries88 1,266 760 1,785 
  Net recoveries (charge-offs)32 270 (7,469)(2,343)
Provision (benefit) for credit loss - loans11 (2,706)6,224 (10,828)
Balance at end of the period$68,879 $57,953 $68,879 $57,953 
The following tables detail activity in the allowance for credit losses on loans by portfolio segment for the three months ended September 30, 2022 and 2021:
(in thousands)
Balance at June 30, 2022
Charge-offsRecoveriesProvision (Benefit) for Credit Loss
Balance at September 30, 2022
Non-owner occupied commercial$23,926 $— $— $294 $24,220 
Owner occupied commercial6,938 — — (666)6,272 
Multifamily8,441 — — 426 8,867 
Non-owner occupied residential2,893 — — (101)2,792 
Commercial, industrial and other10,089 — 49 (1,171)8,967 
Construction2,937 — — (48)2,889 
Equipment finance2,253 — 23 258 2,534 
Residential mortgage6,579 — — 861 7,440 
Consumer4,780 (56)16 158 4,898 
Total$68,836 $(56)$88 $11 $68,879 
(in thousands)
Balance at June 30, 2021
Charge-offsRecoveries(Benefit) Provision for Credit Loss
Balance at September 30, 2021
Non owner occupied commercial$20,906 $(465)$459 $(387)$20,513 
Owner occupied commercial4,100 (204)284 131 4,311 
Multifamily7,177 (28)— 418 7,567 
Non owner occupied residential2,592 (11)16 206 2,803 
Commercial, industrial and other10,489 (26)290 (2,678)8,075 
Construction1,034 (54)4 (118)866 
Equipment finance5,120 (138)— (142)4,840 
Residential mortgage3,885 (28)1 348 4,206 
Consumer5,086 (42)212 (484)4,772 
Total$60,389 $(996)$1,266 $(2,706)$57,953 
The following tables detail activity in the allowance for credit losses on loans by portfolio segment for the nine months ended September 30, 2022 and 2021:
(in thousands)
Balance at December 31, 2021
Initial allowance for credit losses on PCD loansCharge-offsRecoveries(Benefit) Provision for Credit Loss
Balance at September 30, 2022
Non-owner occupied commercial$20,071 $1,312 $(4)$4 $2,837 $24,220 
Owner occupied commercial3,964 1,137 (38)351 858 6,272 
Multifamily8,309 4 — — 554 8,867 
Non-owner occupied residential2,380 175 — 14 223 2,792 
Commercial, industrial and other9,891 2,413 (1,128)127 (2,336)8,967 
Construction838 6,843 (6,807)3 2,012 2,889 
Equipment finance3,663 — (121)102 (1,110)2,534 
Residential mortgage3,914 179 — 48 3,299 7,440 
Consumer5,017 14 (131)111 (113)4,898 
Total$58,047 $12,077 $(8,229)$760 $6,224 $68,879 
(in thousands)
Balance at December 31, 2020
Charge-offsRecoveries(Benefit) Provision for Credit Loss
Balance at September 30, 2021
Non owner occupied commercial$25,910 $(2,708)$462 $(3,151)$20,513 
Owner occupied commercial3,955 (282)301 337 4,311 
Multifamily7,253 (28)— 342 7,567 
Non owner occupied residential3,321 (223)29 (324)2,803 
Commercial, industrial and other13,665 (401)439 (5,628)8,075 
Construction786 (54)71 63 866 
Equipment finance6,552 (242)17 (1,487)4,840 
Residential mortgage3,623 (64)177 470 4,206 
Consumer6,059 (126)289 (1,450)4,772 
Total$71,124 $(4,128)$1,785 $(10,828)$57,953 
The following tables present the recorded investment in loans by portfolio segment and the related allowance for credit losses at September 30, 2022 and December 31, 2021:
September 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$427 $2,822,565 $50,832 $2,873,824 $857 $23,363 $24,220 
Owner occupied commercial12,853 1,101,625 26,812 1,141,290 999 5,273 6,272 
Multifamily— 1,179,539 6,497 1,186,036 17 8,850 8,867 
Non-owner occupied residential450 216,168 5,979 222,597 27 2,765 2,792 
Commercial, industrial and other3,491 600,151 9,586 613,228 3,116 5,851 8,967 
Construction— 381,109 — 381,109 — 2,889 2,889 
Equipment finance— 137,999 — 137,999 — 2,534 2,534 
Residential mortgage— 689,028 1,425 690,453 186 7,254 7,440 
Consumer— 321,938 352 322,290 15 4,883 4,898 
Total loans$17,221 $7,450,122 $101,483 $7,568,826 $5,217 $63,662 $68,879 
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 September 30,For the Nine Months Ended September 30,
(in thousands)2022202120222021
Balance at beginning of the period$2,802 $21 $83 $2 
AFS - HTM Transfer$— (3)$— $(3)
Provision for credit loss expense1,363 32 4,082 51 
Balance at end of the period$4,165 $50 $4,165 $50 
Held to MaturityFor the Three Months Ended September 30,For the Nine Months Ended September 30,
(in thousands)2022202120222021
Balance at beginning of the period$190 $137 $181 $— 
AFS - HTM Transfer$— $3 $— $3 
(Benefit) provision for credit loss expense(38)43 (29)180 
Balance at end of the period$152 $183 $152 $183