Loans Receivable, Net (Tables)

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Summary of loans receivable

The following table presents loans receivable for each portfolio segment of loans:

(Dollars in thousands)	December 31, 2020		December 31, 2019
Residential real estate	$	802,508	926,388
Commercial real estate	6,315,895		5,579,307
Other commercial	3,054,817		2,094,254
Home equity	636,405		617,201
Other consumer	313,071		295,660
Loans receivable	11,122,696		9,512,810
Allowance for credit losses	(158,243)		(124,490)
Loans receivable, net	$	10,964,453	9,388,320
Net deferred origination (fees) costs included in loans receivable	$	(26,709)	(6,964)
Net purchase accounting (discounts) premiums included in loans receivable	$	(17,091)	(21,574)
Accrued interest receivable on loans	$	53,538	40,962

Financing receivable, allowance for credit loss

	Year ended December 31, 2020
(Dollars in thousands)	Total		Residential Real Estate	Commercial Real Estate	Other Commercial	Home Equity	Other Consumer
Balance at beginning of period	$	124,490	10,111	69,496	36,129	4,937	3,817
Impact of adopting CECL	3,720		3,584	10,533	(13,759)	3,400	(38)
Acquisitions	49		—	49	—	—	—
Provision for credit losses	37,637		(4,131)	9,324	29,812	(27)	2,659
Charge-offs	(13,808)		(21)	(3,497)	(4,860)	(384)	(5,046)
Recoveries	6,155		61	1,094	1,811	256	2,933
Balance at end of period	$	158,243	9,604	86,999	49,133	8,182	4,325

	Year ended December 31, 2019
(Dollars in thousands)	Total		Residential Real Estate	Commercial Real Estate	Other Commercial	Home Equity	Other Consumer
Balance at beginning of period	$	131,239	10,631	72,448	38,160	5,811	4,189
Provision for credit losses	57		(163)	(2,704)	(23)	(863)	3,810
Charge-offs	(15,178)		(608)	(2,460)	(4,189)	(90)	(7,831)
Recoveries	8,372		251	2,212	2,181	79	3,649
Balance at end of period	$	124,490	10,111	69,496	36,129	4,937	3,817

	Year ended December 31, 2018
(Dollars in thousands)	Total		Residential Real Estate	Commercial Real Estate	Other Commercial	Home Equity	Other Consumer
Balance at beginning of period	$	129,568	10,798	68,515	39,303	6,204	4,748
Provision for credit losses	9,953		474	4,343	1,916	(471)	3,691
Charge-offs	(17,807)		(728)	(3,469)	(5,045)	(210)	(8,355)
Recoveries	9,525		87	3,059	1,986	288	4,105
Balance at end of period	$	131,239	10,631	72,448	38,160	5,811	4,189

Loan portfolio aging analysis

The following tables present an aging analysis of the recorded investment in loans by loan class:

	December 31, 2020
(Dollars in thousands)	Total		Residential Real Estate	Commercial Real Estate	Other Commercial	Home Equity	Other Consumer
Accruing loans 30-59 days past due	$	17,123	6,058	3,854	4,039	2,130	1,042
Accruing loans 60-89 days past due	5,598		584	2,299	809	756	1,150
Accruing loans 90 days or more past due	1,725		934	231	293	135	132
Non-accrual loans with no ACL	29,532		3,129	14,030	9,231	2,664	478
Non-accrual loans with ACL	2,432		274	1,787	278	49	44
Total past due and   non-accrual loans	56,410		10,979	22,201	14,650	5,734	2,846
Current loans receivable	11,066,286		791,529	6,293,694	3,040,167	630,671	310,225
Total loans receivable	$	11,122,696	802,508	6,315,895	3,054,817	636,405	313,071

	December 31, 2019
(Dollars in thousands)	Total		Residential Real Estate	Commercial Real Estate	Other Commercial	Home Equity	Other Consumer
Accruing loans 30-59 days past due	$	15,944	3,403	4,946	4,685	1,040	1,870
Accruing loans 60-89 days past due	7,248		749	2,317	1,190	1,902	1,090
Accruing loans 90 days or more past due	1,412		753	64	143	—	452
Non-accrual loans	30,883		4,715	15,650	6,592	3,266	660
Total past due and non-accrual loans	55,487		9,620	22,977	12,610	6,208	4,072
Current loans receivable	9,457,323		916,768	5,556,330	2,081,644	610,993	291,588
Total loans receivable	$	9,512,810	926,388	5,579,307	2,094,254	617,201	295,660

The Company had $832,000 of interest reversed on non-accrual loans during the year ended December 31, 2020. The current year modifications that were made under the CARES Act, along with related regulatory guidance, are included in current loan receivables in the table above.

Summary of repayment through operation or sale of collateral

The following table presents the amortized cost basis of collateral-dependent loans by collateral type:

	December 31, 2020
(Dollars in thousands)	Total		Residential Real Estate	Commercial Real Estate	Other Commercial	Home Equity	Other Consumer
Business assets	$	4,325	—	37	4,288	—	—
Residential real estate	7,148		3,338	1,043	198	2,513	56
Other real estate	16,127		64	14,738	1,086	200	39
Other	36,855		—	—	36,469	—	386
Total	$	64,455	3,402	15,818	42,041	2,713	481

Summary of TDRs

The following tables present TDRs that occurred during the periods presented and the TDRs that occurred within the previous twelve months that subsequently defaulted during the periods presented:

	Year ended December 31, 2020
(Dollars in thousands)	Total		Residential Real Estate	Commercial Real Estate	Other Commercial	Home Equity	Other Consumer
TDRs that occurred during the period
Number of loans	16		1	10	4	1	—
Pre-modification recorded balance	$	14,945	210	13,392	1,304	39	—
Post-modification recorded balance	$	14,945	210	13,392	1,304	39	—
TDRs that subsequently defaulted
Number of loans	1		—	1	—	—	—
Recorded balance	$	145	—	145	—	—	—

	Year ended December 31, 2019
(Dollars in thousands)	Total		Residential Real Estate	Commercial Real Estate	Other Commercial	Home Equity	Other Consumer
TDRs that occurred during the period
Number of loans	18		1	6	6	2	3
Pre-modification recorded balance	$	18,508	117	8,524	9,382	214	271
Post-modification recorded balance	$	18,476	123	8,524	9,364	214	251
TDRs that subsequently defaulted
Number of loans	1		—	1	—	—	—
Recorded balance	$	106	—	106	—	—	—

	Year ended December 31, 2018
(Dollars in thousands)	Total		Residential Real Estate	Commercial Real Estate	Other Commercial	Home Equity	Other Consumer
TDRs that occurred during the period
Number of loans	25		4	8	10	2	1
Pre-modification recorded balance	$	21,995	724	12,901	7,813	252	305
Post-modification recorded balance	$	21,881	724	12,787	7,813	252	305
TDRs that subsequently defaulted
Number of loans	1		1	—	—	—	—
Recorded balance	$	47	47	—	—	—	—

Credit quality indicators for commercial loans

The following tables present the amortized cost in commercial real estate and other commercial loans based on the Company’s internal risk rating. The date of a modification, renewal or extension of a loan is considered for the year of origination if the terms of the loan are as favorable to the Company as the terms are for a comparable loan to other borrowers with similar credit risk.

	December 31, 2020
(Dollars in thousands)	Total		Pass	Special Mention	Substandard	Doubtful/ Loss
Commercial real estate loans
Term loans by origination year
2020	$	1,496,094	1,490,947	—	5,147	—
2019	1,077,461		1,069,503	—	7,958	—
2018	914,506		874,673	—	39,833	—
2017	723,448		696,371	—	27,077	—
2016	496,275		481,392	—	14,883	—
Prior	1,488,281		1,450,596	—	37,574	111
Revolving loans	119,830		116,548	—	3,282	—
Total	$	6,315,895	6,180,030	—	135,754	111
Other commercial loans 1
Term loans by origination year
2020	$	1,366,664	1,341,316	19,564	5,784	—
2019	304,430		284,981	12,582	6,864	3
2018	241,222		234,988	—	6,233	1
2017	269,857		264,651	—	5,114	92
2016	179,225		177,164	—	2,056	5
Prior	218,306		206,431	—	11,329	546
Revolving loans	475,113		467,929	54	7,112	18
Total	$	3,054,817	2,977,460	32,200	44,492	665

______________________________

1 Includes PPP loans.

Credit quality indicators for RRE and consumer loans

The following tables present the amortized cost of residential real estate, home equity and other consumer loans based on payment performance:

	December 31, 2020
(Dollars in thousands)	Total		Performing	30-89 Days Past Due	Non-Accrual and 90 Days or More Past Due
Residential real estate loans
Term loans by origination year
2020	$	208,679	207,432	1,247	—
2019	181,924		179,915	2,009	—
2018	100,273		99,135	556	582
2017	76,394		75,527	867	—
2016	53,819		52,905	87	827
Prior	179,085		174,281	1,876	2,928
Revolving loans	2,334		2,334	—	—
Total	$	802,508	791,529	6,642	4,337
Home equity loans
Term loans by origination year
2020	$	89	89	—	—
2019	807		771	—	36
2018	1,782		1,782	—	—
2017	1,452		1,426	26	—
2016	1,016		1,016	—	—
Prior	14,025		13,042	463	520
Revolving loans	617,234		612,545	2,397	2,292
Total	$	636,405	630,671	2,886	2,848
Other consumer loans
Term loans by origination year
2020	$	131,302	131,098	158	46
2019	66,327		65,921	170	236
2018	42,827		42,557	212	58
2017	16,287		16,202	38	47
2016	10,519		10,409	48	62
Prior	18,692		17,334	1,155	203
Revolving loans	27,117		26,704	411	2
Total	$	313,071	310,225	2,192	654

Summary of recorded investment in loans and the balance in the ALLL

The following table disclosed the recorded investment in loans and the balance in the allowance separated by loans individually evaluated and collectively evaluated for impairment:

	December 31, 2019
(Dollars in thousands)	Total		Residential Real Estate	Commercial Real Estate	Other Commercial	Home Equity	Other Consumer
Loans receivable
Individually evaluated for impairment	$	94,504	7,804	58,609	21,475	3,745	2,871
Collectively evaluated for impairment	9,418,306		918,584	5,520,698	2,072,779	613,456	292,789
Total loans receivable	$	9,512,810	926,388	5,579,307	2,094,254	617,201	295,660
Allowance for loan and lease losses
Individually evaluated for impairment	$	95	—	73	10	—	12
Collectively evaluated for impairment	124,395		10,111	69,423	36,119	4,937	3,805
Total allowance for loan and lease losses	$	124,490	10,111	69,496	36,129	4,937	3,817

Summary of the impaired loans

The following table disclosed information related to impaired loans:

	At or for the Year ended December 31, 2019
(Dollars in thousands)	Total		Residential Real Estate	Commercial Real Estate	Other Commercial	Home Equity	Other Consumer
Loans with a specific valuation allowance
Recorded balance	$	5,388	—	5,343	10	—	35
Unpaid principal balance	5,388		—	5,343	10	—	35
Specific valuation allowance	95		—	73	10	—	12
Average balance	10,378		409	6,341	3,490	24	114
Loans without a specific valuation allowance
Recorded balance	89,116		7,804	53,266	21,465	3,745	2,836
Unpaid principal balance	99,355		9,220	57,735	24,758	4,494	3,148
Average balance	93,338		9,879	59,107	18,079	3,486	2,787
Total
Recorded balance	$	94,504	7,804	58,609	21,475	3,745	2,871
Unpaid principal balance	104,743		9,220	63,078	24,768	4,494	3,183
Specific valuation allowance	95		—	73	10	—	12
Average balance	103,716		10,288	65,448	21,569	3,510	2,901