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Allowance for Credit Losses (Tables)
 12 Months Ended
Dec. 31, 2022
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)20222021
Balance at beginning of the period$58,047 $71,124 
Initial allowance for credit losses on PCD loans12,077 — 
Charge-offs on PCD loans(7,634)— 
Charge-offs(733)(4,589)
Recoveries819 2,427 
  Net (charge-offs) recoveries(7,548)(2,162)
Provision for credit loss - loans7,688 (10,915)
Balance at end of the period$70,264 $58,047 
The following tables detail activity in the allowance for credit losses by portfolio segment for the years ended December 31, 2022 and 2021.
(in thousands)
Balance at December 31, 2021
Initial allowance for credit losses on PCD loansCharge-offsRecoveriesProvision (Benefit) for Credit Loss - Loans
Balance at December 31, 2022
Non-owner occupied commercial$20,071 $1,312 $(4)$4 $2,079 $23,462 
Owner occupied commercial3,964 1,137 (38)351 1,282 6,696 
Multifamily8,309 4 — — 1,112 9,425 
Non-owner occupied residential2,380 175 — 14 74 2,643 
Commercial, industrial and other9,891 2,413 (1,128)151 (2,491)8,836 
Construction838 6,843 (6,807)3 2,091 2,968 
Equipment finance3,663 — (184)114 (148)3,445 
Residential mortgage3,914 179 — 48 3,900 8,041 
Consumer5,017 14 (206)134 (211)4,748 
Total$58,047 $12,077 $(8,367)$819 $7,688 $70,264 
(in thousands)
Balance at December 31, 2020
Charge-offsRecoveries(Benefit) Provision for Credit Loss - Loans
Balance at December 31, 2021
Non owner occupied commercial$25,910 $(2,708)$462 $(3,593)$20,071 
Owner occupied commercial3,955 (282)302 (11)3,964 
Multifamily7,253 (28)— 1,084 8,309 
Non owner occupied residential3,321 (223)165 (883)2,380 
Commercial, industrial and other13,665 (401)888 (4,261)9,891 
Construction786 (54)75 31 838 
Equipment finance6,552 (346)61 (2,604)3,663 
Residential mortgage3,623 (113)177 227 3,914 
Consumer6,059 (434)297 (905)5,017 
Total$71,124 $(4,589)$2,427 $(10,915)$58,047 
The following tables present the recorded investment in loans by portfolio segment and the related allowance for credit or loan losses for the years ended December 31, 2022 and 2021.
December 31, 2022Loans Allowance for Credit Losses
(in thousands) Individually evaluated  Collectively evaluated Acquired with deteriorated credit qualityTotalIndividually evaluatedCollectively evaluated Total
Non-owner occupied commercial$— $2,871,950 $34,064 $2,906,014 $753 $22,709 $23,462 
Owner occupied commercial12,041 1,202,919 31,229 1,246,189 983 5,713 6,696 
Multifamily— 1,254,412 6,402 1,260,814 5 9,420 9,425 
Non-owner occupied residential441 216,516 1,069 218,026 16 2,627 2,643 
Commercial, industrial and other2,806 594,568 9,337 606,711 2,150 6,686 8,836 
Construction980 379,120 — 380,100 — 2,968 2,968 
Equipment finance— 151,574 — 151,574 — 3,445 3,445 
Residential mortgage— 764,340 1,212 765,552 181 7,860 8,041 
Consumer— 330,920 150 331,070 3 4,745 4,748 
Total loans$16,268 $7,766,319 $83,463 $7,866,050 $4,091 $66,173 $70,264 
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