Loans Receivable, Net (Tables)

12 Months Ended

Dec. 31, 2022

Receivables [Abstract]

Summary of loans receivable

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

(Dollars in thousands)	December 31, 2022		December 31, 2021
Residential real estate	$	1,446,008	1,051,883
Commercial real estate	9,797,047		8,630,831
Other commercial	2,799,668		2,664,190
Home equity	822,232		736,288
Other consumer	381,857		348,839
Loans receivable	15,246,812		13,432,031
Allowance for credit losses	(182,283)		(172,665)
Loans receivable, net	$	15,064,529	13,259,366
Net deferred origination (fees) costs included in loans receivable	$	(25,882)	(21,667)
Net purchase accounting (discounts) premiums included in loans receivable	$	(17,832)	(25,166)
Accrued interest receivable on loans	$	54,971	49,133

Financing receivable, allowance for credit loss

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

	Year ended
(Dollars in thousands)	December 31, 2022	December 31, 2021	December 31, 2020
Provision for credit loss loans	17,433	16,380	37,637
Provision for credit loss unfunded	2,530	6,696	2,128
Total provision for credit losses	19,963	23,076	39,765

The following tables summarize the activity in the ACL:

	Year ended December 31, 2022
(Dollars in thousands)	Total		Residential Real Estate	Commercial Real Estate	Other Commercial	Home Equity	Other Consumer
Balance at beginning of period	$	172,665	16,458	117,901	24,703	8,566	5,037
Provision for credit losses	17,433		3,162	7,231	(704)	1,943	5,801
Charge-offs	(14,970)		(17)	(2,171)	(4,201)	(85)	(8,496)
Recoveries	7,155		80	2,855	1,656	335	2,229
Balance at end of period	$	182,283	19,683	125,816	21,454	10,759	4,571

 

	Year ended December 31, 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
Acquisitions	371		—	309	62	—	—
Provision for credit losses	16,380		6,517	28,996	(23,444)	186	4,125
Charge-offs	(11,594)		(38)	(279)	(4,826)	(45)	(6,406)
Recoveries	9,265		375	1,876	3,778	243	2,993
Balance at end of period	$	172,665	16,458	117,901	24,703	8,566	5,037

	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

Loan portfolio aging analysis

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

	December 31, 2022
(Dollars in thousands)	Total		Residential Real Estate	Commercial Real Estate	Other Commercial	Home Equity	Other Consumer
Accruing loans 30-59 days past due	$	16,331	2,796	5,462	4,192	754	3,127
Accruing loans 60-89 days past due	4,636		142	2,865	297	529	803
Accruing loans 90 days or more past due	1,559		215	472	542	138	192
Non-accrual loans with no ACL	31,036		2,236	22,943	3,790	1,234	833
Non-accrual loans with ACL	115		—	—	56	—	59
Total past due and   non-accrual loans	53,677		5,389	31,742	8,877	2,655	5,014
Current loans receivable	15,193,135		1,440,619	9,765,305	2,790,791	819,577	376,843
Total loans receivable	$	15,246,812	1,446,008	9,797,047	2,799,668	822,232	381,857

 

	December 31, 2021
(Dollars in thousands)	Total		Residential Real Estate	Commercial Real Estate	Other Commercial	Home Equity	Other Consumer
Accruing loans 30-59 days past due	$	38,081	2,132	26,063	5,464	1,582	2,840
Accruing loans 60-89 days past due	12,485		457	9,537	1,652	512	327
Accruing loans 90 days or more past due	17,141		223	15,345	1,383	57	133
Non-accrual loans with no ACL	28,961		2,162	20,040	4,563	1,712	484
Non-accrual loans with ACL	21,571		255	448	20,765	99	4
Total past due and non-accrual loans	118,239		5,229	71,433	33,827	3,962	3,788
Current loans receivable	13,313,792		1,046,654	8,559,398	2,630,363	732,326	345,051
Total loans receivable	$	13,432,031	1,051,883	8,630,831	2,664,190	736,288	348,839

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, 2022
(Dollars in thousands)	Total		Residential Real Estate	Commercial Real Estate	Other Commercial	Home Equity	Other Consumer
Business assets	$	3,172	—	32	3,140	—	—
Residential real estate	5,061		2,407	990	318	1,201	145
Other real estate	33,125		49	32,333	300	75	368
Other	1,155		—	—	530	—	625
Total	$	42,513	2,456	33,355	4,288	1,276	1,138

	December 31, 2021
(Dollars in thousands)	Total		Residential Real Estate	Commercial Real Estate	Other Commercial	Home Equity	Other Consumer
Business assets	$	25,182	—	57	25,125	—	—
Residential real estate	4,625		2,369	280	115	1,694	167
Other real estate	32,093		48	30,996	597	116	336
Other	1,525		—	—	1,241	—	284
Total	$	63,425	2,417	31,333	27,078	1,810	787

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, 2022
(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	11		1	4	6	—	—
Pre-modification recorded balance	$	5,616	31	4,266	1,319	—	—
Post-modification recorded balance	$	6,346	31	4,862	1,453	—	—

	Year ended December 31, 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	12		1	5	3	1	2
Pre-modification recorded balance	$	2,442	210	1,473	554	54	151
Post-modification recorded balance	$	2,442	210	1,473	554	54	151

	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	—	—	—

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, 2022
(Dollars in thousands)	Total		Pass	Special Mention	Substandard	Doubtful/ Loss
Commercial real estate loans
Term loans by origination year
2022	$	2,584,831	2,578,558	—	6,273	—
2021	2,457,790		2,454,696	—	3,094	—
2020	1,274,852		1,269,254	—	5,598	—
2019	744,634		709,246	—	35,388	—
2018	658,268		634,316	—	23,952	—
Prior	1,851,965		1,787,941	1,416	62,576	32
Revolving loans	224,707		224,629	—	78	—
Total	$	9,797,047	9,658,640	1,416	136,959	32
Other commercial loans 1
Term loans by origination year
2022	$	603,393	599,498	371	3,469	55
2021	573,273		569,542	—	2,707	1,024
2020	308,555		304,179	—	4,373	3
2019	191,498		185,748	—	5,748	2
2018	140,122		135,727	—	4,394	1
Prior	404,319		398,523	114	5,322	360
Revolving loans	578,508		567,770	—	10,604	134
Total	$	2,799,668	2,760,987	485	36,617	1,579

______________________________

1 Includes PPP loans.

	December 31, 2021
(Dollars in thousands)	Total		Pass	Special Mention	Substandard	Doubtful/ Loss
Commercial real estate loans
Term loans by origination year
2021	$	2,679,564	2,677,540	—	2,024	—
2020	1,512,845		1,499,895	—	12,950	—
2019	952,039		919,091	—	32,948	—
2018	808,275		788,292	—	19,983	—
2017	665,733		624,018	—	41,715	—
Prior	1,677,875		1,621,819	—	56,030	26
Revolving loans	334,500		332,696	—	1,803	1
Total	$	8,630,831	8,463,351	—	167,453	27
Other commercial loans 1
Term loans by origination year
2021	$	751,151	746,709	—	4,442	—
2020	429,500		420,547	—	8,952	1
2019	235,591		226,614	—	8,974	3
2018	188,009		179,679	—	8,329	1
2017	209,287		207,509	—	1,775	3
Prior	312,852		297,926	—	14,275	651
Revolving loans	537,800		507,258	—	30,526	16
Total	$	2,664,190	2,586,242	—	77,273	675

______________________________

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:

	December 31, 2022
(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
2022	$	543,469	543,023	446	—
2021	552,748		551,756	992	—
2020	116,810		116,543	136	131
2019	45,055		44,604	451	—
2018	37,252		36,993	—	259
Prior	149,292		146,318	913	2,061
Revolving loans	1,382		1,382	—	—
Total	$	1,446,008	1,440,619	2,938	2,451
Home equity loans
Term loans by origination year
2022	$	60	60	—	—
2021	77		77	—	—
2020	82		82	—	—
2019	225		195	—	30
2018	594		594	—	—
Prior	7,165		6,868	131	166
Revolving loans	814,029		811,701	1,152	1,176
Total	$	822,232	819,577	1,283	1,372
Other consumer loans
Term loans by origination year
2022	$	152,685	149,702	2,825	158
2021	94,210		93,749	421	40
2020	49,257		48,990	212	55
2019	20,432		20,166	96	170
2018	10,598		9,970	91	537
Prior	16,014		15,786	106	122
Revolving loans	38,661		38,480	179	2
Total	$	381,857	376,843	3,930	1,084

	December 31, 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	$	427,814	427,318	496	—
2020	179,395		178,016	1,232	147
2019	66,543		66,470	—	73
2018	51,095		50,816	—	279
2017	42,181		42,005	—	176
Prior	146,299		143,473	861	1,965
Revolving loans	138,556		138,556	—	—
Total	$	1,051,883	1,046,654	2,589	2,640
Home equity loans
Term loans by origination year
2021	$	871	871	—	—
2020	303		303	—	—
2019	1,293		1,260	—	33
2018	1,329		1,328	—	1
2017	886		886	—	—
Prior	11,494		10,589	576	329
Revolving loans	720,112		717,089	1,518	1,505
Total	$	736,288	732,326	2,094	1,868
Other consumer loans
Term loans by origination year
2021	$	151,407	150,910	469	28
2020	80,531		80,072	443	16
2019	37,036		36,647	187	202
2018	19,563		19,268	144	151
2017	8,591		8,506	78	7
Prior	17,763		15,968	1,589	206
Revolving loans	33,948		33,680	257	11
Total	$	348,839	345,051	3,167	621