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Loans Receivable, Net (Tables)

6 Months Ended

Jun. 30, 2021

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


(Dollars in thousands)	June 30, 2021		December 31, 2020
Residential real estate	$	734,838	802,508
Commercial real estate	6,584,322		6,315,895
Other commercial	2,932,419		3,054,817
Home equity	648,800		636,405
Other consumer	337,669		313,071
Loans receivable	11,238,048		11,122,696
Allowance for credit losses	(151,448)		(158,243)
Loans receivable, net	$	11,086,600	10,964,453
Net deferred origination (fees) costs included in loans receivable	$	(35,391)	(26,709)
Net purchase accounting (discounts) premiums included in loans receivable	$	(13,774)	(17,091)
Accrued interest receivable on loans	$	47,184	53,538

Summary of the activity in the ACL

The following table presents the provision for credit losses on the loan portfolio and off-balance sheet exposures:


	Three Months ended			Six Months ended
(Dollars in thousands)	June 30, 2021		June 30, 2020	June 30, 2021	June 30, 2020
Provision for credit loss loans	$	(5,723)	13,552	(5,234)	36,296
Provision for credit losses unfunded	70		3,377	(371)	(182)
Total provision for credit losses	$	(5,653)	16,929	(5,605)	36,114

The following tables summarize the activity in the ACL:


	Three Months ended June 30, 2021
(Dollars in thousands)	Total		Residential Real Estate	Commercial Real Estate	Other Commercial	Home Equity	Other Consumer
Balance at beginning of period	$	156,446	9,018	95,251	39,385	8,068	4,724


Provision for credit losses	(5,723)		884	1,269	(8,319)	(278)	721
Charge-offs	(1,700)		—	(41)	(351)	—	(1,308)
Recoveries	2,425		241	118	1,268	47	751
Balance at end of period	$	151,448	10,143	96,597	31,983	7,837	4,888


	Three Months ended June 30, 2020
(Dollars in thousands)	Total		Residential Real Estate	Commercial Real Estate	Other Commercial	Home Equity	Other Consumer
Balance at beginning of period	$	150,190	9,315	70,848	56,409	7,934	5,684


Provision for credit losses	13,552		662	18,309	(6,974)	2,174	(619)
Charge-offs	(2,668)		(1)	(150)	(1,088)	(193)	(1,236)
Recoveries	1,435		10	97	491	47	790
Balance at end of period	$	162,509	9,986	89,104	48,838	9,962	4,619


	Six Months ended June 30, 2021
(Dollars in thousands)	Total		Residential Real Estate	Commercial Real Estate	Other Commercial	Home Equity	Other Consumer
Balance at beginning of period	$	158,243	9,604	86,999	49,133	8,182	4,325


Provision for credit losses	(5,234)		302	8,732	(15,584)	(367)	1,683
Charge-offs	(5,946)		(38)	(41)	(3,113)	(45)	(2,709)
Recoveries	4,385		275	907	1,547	67	1,589
Balance at end of period	$	151,448	10,143	96,597	31,983	7,837	4,888


	Six Months ended June 30, 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	36,296		(3,707)	8,876	27,159	1,666	2,302
Charge-offs	(5,235)		(21)	(180)	(1,873)	(194)	(2,967)
Recoveries	3,189		19	330	1,182	153	1,505
Balance at end of period	$	162,509	9,986	89,104	48,838	9,962	4,619

Loan portfolio aging analysis

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


	June 30, 2021
(Dollars in thousands)	Total		Residential Real Estate	Commercial Real Estate	Other Commercial	Home Equity	Other Consumer
Accruing loans 30-59 days past due	$	8,677	—	3,230	1,940	1,808	1,699
Accruing loans 60-89 days past due	3,399		233	518	2,299	163	186
Accruing loans 90 days or more past due	4,220		338	2,349	1,234	155	144
Non-accrual loans with no ACL	46,843		2,888	10,648	30,164	2,617	526
Non-accrual loans with ACL	1,207		295	462	343	50	57
Total past due and non-accrual loans	64,346		3,754	17,207	35,980	4,793	2,612
Current loans receivable	11,173,702		731,084	6,567,115	2,896,439	644,007	335,057
Total loans receivable	$	11,238,048	734,838	6,584,322	2,932,419	648,800	337,669


	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

Collateral dependent loans

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


	June 30, 2021
(Dollars in thousands)	Total		Residential Real Estate	Commercial Real Estate	Other Commercial	Home Equity	Other Consumer
Business assets	$	27,208	—	30	27,178	—	—
Residential real estate	6,727		3,126	807	137	2,480	177
Other real estate	24,830		651	21,313	2,340	187	339
Other	20,345		—	—	19,976	—	369
Total	$	79,110	3,777	22,150	49,631	2,667	885


	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:


	Three Months ended June 30, 2021
(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	3		—	1	2	—	—
Pre-modification recorded balance	$	615	—	99	516	—	—
Post-modification recorded balance	$	615	—	99	516	—	—
TDRs that subsequently defaulted
Number of loans	—		—	—	—	—	—
Recorded balance	$	—	—	—	—	—	—


	Three Months ended June 30, 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	8		1	3	3	1	—
Pre-modification recorded balance	$	1,672	210	1,263	160	39	—
Post-modification recorded balance	$	1,672	210	1,263	160	39	—
TDRs that subsequently defaulted
Number of loans	—		—	—	—	—	—
Recorded balance	$	—	—	—	—	—	—


	Six Months ended June 30, 2021
(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	10		1	5	3	—	1
Pre-modification recorded balance	$	2,368	210	1,473	554	—	131
Post-modification recorded balance	$	2,368	210	1,473	554	—	131
TDRs that subsequently defaulted
Number of loans	—		—	—	—	—	—
Recorded balance	$	—	—	—	—	—	—


	Six Months ended June 30, 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	13		1	6	5	1	—
Pre-modification recorded balance	$	8,940	210	8,120	571	39	—
Post-modification recorded balance	$	8,940	210	8,120	571	39	—
TDRs that subsequently defaulted
Number of loans	1		—	1	—	—	—
Recorded balance	$	106	—	106	—	—	—

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.


	June 30, 2021
(Dollars in thousands)	Total		Pass	Special Mention	Substandard	Doubtful/ Loss
Commercial real estate loans
Term loans by origination year
2021 (year-to-date)	$	1,021,389	1,020,590	—	799	—
2020	1,345,598		1,341,472	—	4,126	—
2019	960,097		948,682	—	11,415	—
2018	797,895		757,454	—	40,441	—
2017	585,881		556,345	—	29,536	—
Prior	1,741,920		1,691,966	—	49,868	86
Revolving loans	131,542		128,806	—	2,735	1

Total	$	6,584,322	6,445,315	—	138,920	87
Other commercial loans 1
Term loans by origination year
2021 (year-to-date)	$	766,841	765,356	—	1,485	—
2020	613,476		591,994	—	21,481	1
2019	266,759		258,482	—	8,274	3
2018	201,000		194,842	—	6,157	1
2017	226,830		225,041	—	1,786	3
Prior	357,769		341,707	—	15,511	551
Revolving loans	499,744		471,791	—	27,936	17

Total	$	2,932,419	2,849,213	—	82,630	576

___________________________

1 Includes PPP loans.


	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 in residential real estate, home equity and other consumer loans based on payment performance:


	June 30, 2021
(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
2021 (year-to-date)	$	121,489	121,489	—	—
2020	205,741		205,741	—	—
2019	101,077		101,077	—	—
2018	67,729		67,445	52	232
2017	58,675		58,495	—	180
Prior	177,776		174,486	181	3,109
Revolving loans	2,351		2,351	—	—

Total	$	734,838	731,084	233	3,521
Home equity loans
Term loans by origination year
2021 (year-to-date)	$	47	47	—	—
2020	69		69	—	—
2019	607		573	—	34
2018	1,093		1,093	—	—
2017	852		827	—	25
Prior	11,616		11,068	24	524
Revolving loans	634,516		630,330	1,947	2,239

Total	$	648,800	644,007	1,971	2,822
Other consumer loans
Term loans by origination year
2021 (year-to-date)	$	98,287	98,258	29	—
2020	100,652		100,363	247	42
2019	48,832		48,485	104	243
2018	27,480		27,170	99	211
2017	11,159		11,115	37	7
Prior	22,098		20,568	1,308	222
Revolving loans	29,161		29,098	61	2

Total	$	337,669	335,057	1,885	727


	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