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Allowance for Credit Losses | 6 Months Ended
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Jun. 30, 2024
Receivables [Abstract] |
Allowance for Credit Losses | Allowance for Credit Losses Allowance for Credit Losses Methodology The ACL represents management's estimate of lifetime credit losses for assets within its scope, specifically loans and leases and unfunded commitments. To calculate the ACL, management uses models to estimate the PD and LGD for loans utilizing inputs that include forecasted future economic conditions and that are dependent upon specific macroeconomic variables relevant to each of the Bank's loan and lease portfolios. Moody's Analytics, a third party, provided the historical and forward-looking macroeconomic data utilized in the models used to calculate the ACL. In calculating the ACL, the Bank considered the financial and economic environment at the time of assessment and economic scenarios that differed in the levels of severity and sensitivity to the ACL results. At each measurement date, the Bank selects the scenario that reflects its view of future economic conditions and is determined to be the most probable outcome. All forecasts are updated for each variable where applicable and incorporated as relevant into the ACL calculation. Actual credit loss results and the timing thereof will differ from the estimate of credit losses, either in a strong economy or a recession, as the portfolio will change through time due to growth, risk mitigation actions and other factors. In addition, the scenarios used will differ and change through time as economic conditions change. Economic scenarios might not capture deterioration or improvement in the economy timely enough for the Bank to be able to adequately address the impact to the ACL. Select macroeconomic variables are projected over the forecast period, and they could have a material impact in determining the ACL. As the length of the forecast period increases, information about the future becomes less readily available and projections are inherently less certain. The following is a discussion of the changes in the factors that influenced management's current estimate of expected credit losses. The changes in the ACL estimate during the three months ended June 30, 2024 reflect credit migration trends and changes in the economic assumptions. Due to the dynamic economic environment, the Bank opted to use Moody's Analytics' May 2024 baseline economic forecast for estimating the ACL as of June 30, 2024. In the baseline scenario selected, the probability that the economy will perform better than this baseline is equal to the probability that it will perform worse and included the following factors: •U.S. real GDP average annualized growth of 2.5% in 2024, 1.7% in 2025, 1.9% in 2026, and 2.2% in 2027; •U.S. unemployment rate average of 4.0% in 2024, 4.1% in 2025, 4.0% in 2026, and 4.0% in 2027; and •The forecasted average federal funds rate is expected to be 5.2% in 2024, 4.3% in 2025, 3.3% in 2026 and 2.9% in 2027. The Bank uses an additional scenario that differs in terms of severity, both favorable or unfavorable, to assess the sensitivity in the ACL results and to inform qualitative adjustments. The economic factors are consistent between scenarios. The Bank selected the Moody's Analytics' May 2024 S2 scenario for this analysis. In the scenario selected, there is a 75% probability that the economy will perform better, broadly speaking, and a 25% probability that it will perform worse; and the scenario includes the following factors: •U.S. real GDP average annualized growth of 2.0% in 2024, 0.1% in 2025, 2.5% in 2026, and 2.7% in 2027; •U.S. unemployment rate average of 4.5% in 2024, 6.1% in 2025, 4.4% in 2026, and 4.0% in 2027; and •The forecasted average federal funds rate is expected to be 5.0% in 2024, 2.8% in 2025, 2.2% in 2026 and 2.7% in 2027. The results using the comparison scenario as well as changes to the macroeconomic variables subsequent to selected economic forecast scenarios for sensitivity analysis were reviewed by management and were considered when evaluating the qualitative factor adjustments. The ACL is measured on a collective (pool) basis when similar characteristics exist. The Company has selected models at the portfolio level using a risk-based approach, with larger, more complex portfolios having more complex models. Except as noted below, the macroeconomic variables that are inputs to the models are reasonable and supportable over the life of the loans in that they reasonably project the key economic variables in the near term and then converge to a long-run equilibrium trend. These models produce reasonable and supportable estimates of loss over the life of the loans as the projected credit losses will also converge to a steady state in line with the variables applied. The Company measures the ACL using the following methods: Commercial Real Estate: Non-owner occupied commercial real estate, multifamily, and commercial construction loans are analyzed using a model that uses four primary property variables: net operating income, property value, property type, and location. For PD estimation, the model simulates potential future paths of net operating income given commercial real estate market factors determined from macroeconomic and regional commercial real estate forecasts. Using the resulting expected debt service coverage ratios, together with predicted loan-to-values and other variables, the model estimates PD from the range of conditional possibilities. In addition, the model estimates maturity PD capturing refinance default risk to produce a total PD for the loan. The model estimates LGD, inclusive of principal loss and liquidation expenses, empirically using predicted loan-to-value as well as certain market and other factors. The LGD calculation also includes a separate maturity risk component. The primary economic drivers in the model are GDP growth, U.S. unemployment rate, and 10-Year Treasury yield. These economic drivers are translated into a forecast, provided by Moody's Analytics' REIS, of real estate metrics, such as rental rates, vacancies, and cap rates. The model produces PD and LGD on a quarter-by-quarter basis for the life of loan. The owner occupied commercial real-estate portfolio utilizes a top-down macroeconomic model using linear regression. This model produces portfolio level quarterly net charge-off rates for 10 years and carries forward the last quarter's expected loss percentage projection to remaining periods. The primary economic drivers for this model are commercial real estate price index and a five-state average unemployment rate. Commercial: Non-homogeneous commercial loans and leases and residential development loans are analyzed in a multi-step process. An initial PD is estimated using a model driven by an obligor's selected financial statement ratios, together with cycle-adjusting information based on the obligor's state and industry. An initial LGD is derived separately based on collateral type using collateral value and a haircut to reflect the loss in liquidation. Another model then applies an auto-regression technique to the initial PD and LGD metrics to estimate the PD and LGD curves according to the macroeconomic scenario over a one-year reasonable and supportable forecast. The primary economic drivers in the model are GDP growth and commercial real estate price index. This model utilizes output reversion methodology, which, after one year, reverts on a straight-line basis over two years to long-term PD estimated using financial statement ratios of each obligor. The model for the homogeneous lease and equipment finance agreement portfolio uses lease and equipment finance agreement information, such as origination and performance, as well as macroeconomic variables to calculate PD and LGD values. The PD calculation is based on survival analysis while LGD is calculated using a two-step regression. The model calculates LGD using an estimate of the probability that a defaulted lease or equipment finance agreement will have a loss, and an estimate of the loss amount. The primary economic drivers for the model are GDP, U.S. unemployment rate, and a home price growth index. The model produces PD and LGD curves at the lease or equipment finance agreement level for each month in the forecast horizon. Residential: The models for residential real estate and HELOCs utilize loan level variables, such as origination and performance, as well as macroeconomic variables to calculate PD and LGD. The U.S. unemployment rate and home price growth rate indexes are primary economic drivers in both the residential real estate and HELOC models. In addition, the prime rate is also a primary driver in the HELOC model. The models focus on establishing an empirical relationship between default probabilities and a set of loan-level, borrower, and macroeconomic credit risk drivers. The LGD calculation for residential real estate is based on an estimate of the probability that a defaulted loan will have a loss, and then an estimate of the loss amount. HELOCs utilize the same model using residential real estate LGD values to assign loans to cohorts based on FICO scores and loan age. The model produces PD and LGD curves at the loan level for each quarter in the forecast horizon. Consumer: Historical net charge-off information as well as economic assumptions are used to project loss rates for the Consumer segment. All loans and leases that have not been modeled receive a loss rate via an extrapolated rate methodology. The loans and leases receiving an extrapolated rate include certain loans acquired through the Merger, newly originated loans and leases, and loans and leases without the granularity of data necessary to be modeled. Based on the vintage year, credit classification, and reporting category of the modeled loans and leases, a loss factor is calculated and applied to the non-modeled loans and leases. The results are evaluated qualitatively to ensure reasonability and compliance with CECL. Along with the quantitative factors produced by the above models, management also considers prepayment speeds and qualitative factors when determining the ACL. The Company uses a prepayment model that forecasts the constant prepayment rates based on institution specific data for the commercial real estate, commercial and industrial, and consumer portfolios and a forward curve approach that changes with macro-economic input variables for the residential and leases portfolios. Below are the nine qualitative factors considered where applicable: •Changes in lending policies and procedures, including changes in underwriting standards and collection, charge-off, and recovery practices not considered elsewhere in estimating credit losses. •Changes in national, regional, and local economic and business conditions and developments that affect the collectability of the portfolio, including the condition of various market segments. •Changes in the nature and volume of the portfolio and in the terms of loans and leases. •Changes in the experience, ability, and depth of lending management and other relevant staff. •Changes in the volume and severity of past due loans and leases, the volume of non-accrual loans and leases, and the volume and severity of adversely classified or graded loans and leases. •Changes in the quality of the Bank's credit review system. •Changes in the value of the underlying collateral for collateral-dependent loans and leases. •The existence and effect of any concentrations of credit, and changes in the level of such concentrations. •The effect of other external factors such as competition and legal and regulatory requirements on the level of estimated credit losses in the Bank's existing portfolio. The Company evaluated each qualitative factor as of June 30, 2024 and applied adjustments considered necessary to model results. While qualitative overlays are applied, the majority of the allowance is driven by modeled results, as management determined that the models adequately reflect the significant changes in credit conditions and overall portfolio risk. Loss factors from the models, prepayment speeds, and qualitative factors are input into the Company's CECL accounting application, which aggregates the information. The Company then uses two methods to calculate the current expected credit loss: 1) the DCF method, which is used for all loans except lines of credit and 2) the non-DCF method, which is used for lines of credit due to the difficulty of calculating an effective interest rate when lines have yet to be drawn on. The DCF method utilizes the effective interest rate of individual assets to discount the expected credit losses adjusted for prepayments. The difference in the net present value and the amortized cost of the asset will result in the required allowance. The non-DCF method uses the exposure at default, along with the expected credit losses adjusted for prepayments to calculate the required allowance. The following tables summarize activity related to the ACL by portfolio segment for the periods indicated:
|  | Three Months Ended June 30, 2024
(in thousands) |  | Commercial Real Estate |  | Commercial |  | Residential |  | Consumer & Other |  | Total
Allowance for credit losses on loans and leases |  |  |  |  |  |  |  |  |  |
Balance, beginning of period |  | $ | 146,276 |  |  | $ | 202,757 |  |  | $ | 58,010 |  |  | $ | 7,301 |  |  | $ | 414,344 |
(Recapture) provision for credit losses for loans and leases |  | (3,096) |  |  | 46,320 |  |  | (9,032) |  |  | 568 |  |  | 34,760 |
Charge-offs |  | (585) |  |  | (33,561) |  |  | (504) |  |  | (1,551) |  |  | (36,201) |
Recoveries |  | 551 |  |  | 4,198 |  |  | 411 |  |  | 608 |  |  | 5,768 |
Net charge-offs |  | (34) |  |  | (29,363) |  |  | (93) |  |  | (943) |  |  | (30,433) |
Balance, end of period |  | $ | 143,146 |  |  | $ | 219,714 |  |  | $ | 48,885 |  |  | $ | 6,926 |  |  | $ | 418,671 |
Reserve for unfunded commitments |  |  |  |  |  |  |  |  |  |
Balance, beginning of period |  | $ | 13,028 |  |  | $ | 5,890 |  |  | $ | 2,757 |  |  | $ | 1,193 |  |  | $ | 22,868 |
(Recapture) provision for credit losses on unfunded commitments |  | (3,082) |  |  | 657 |  |  | (479) |  |  | (36) |  |  | (2,940) |
Balance, end of period |  | 9,946 |  |  | 6,547 |  |  | 2,278 |  |  | 1,157 |  |  | 19,928 |
Total allowance for credit losses |  | $ | 153,092 |  |  | $ | 226,261 |  |  | $ | 51,163 |  |  | $ | 8,083 |  |  | $ | 438,599 |
|  | Six Months Ended June 30, 2024
(in thousands) |  | Commercial Real Estate |  | Commercial |  | Residential |  | Consumer & Other |  | Total
Allowance for credit losses on loans and leases |  |  |  |  |  |  |  |  |  |
Balance, beginning of period |  | $ | 125,888 |  |  | $ | 244,821 |  |  | $ | 62,004 |  |  | $ | 8,158 |  |  | $ | 440,871 |
Provision (recapture) for credit losses for loans and leases |  | 17,095 |  |  | 46,756 |  |  | (12,706) |  |  | 1,091 |  |  | 52,236 |
Charge-offs |  | (746) |  |  | (80,793) |  |  | (994) |  |  | (3,421) |  |  | (85,954) |
Recoveries |  | 909 |  |  | 8,930 |  |  | 581 |  |  | 1,098 |  |  | 11,518 |
Net recoveries (charge-offs) |  | 163 |  |  | (71,863) |  |  | (413) |  |  | (2,323) |  |  | (74,436) |
Balance, end of period |  | $ | 143,146 |  |  | $ | 219,714 |  |  | $ | 48,885 |  |  | $ | 6,926 |  |  | $ | 418,671 |
Reserve for unfunded commitments |  |  |  |  |  |  |  |  |  |
Balance, beginning of period |  | $ | 11,170 |  |  | $ | 7,841 |  |  | $ | 2,940 |  |  | $ | 1,257 |  |  | $ | 23,208 |
Recapture for credit losses on unfunded commitments |  | (1,224) |  |  | (1,294) |  |  | (662) |  |  | (100) |  |  | (3,280) |
Balance, end of period |  | 9,946 |  |  | 6,547 |  |  | 2,278 |  |  | 1,157 |  |  | 19,928 |
Total allowance for credit losses |  | $ | 153,092 |  |  | $ | 226,261 |  |  | $ | 51,163 |  |  | $ | 8,083 |  |  | $ | 438,599 |
|  | Three Months Ended June 30, 2023
(in thousands) |  | Commercial Real Estate |  | Commercial |  | Residential |  | Consumer & Other |  | Total
Allowance for credit losses on loans and leases |  |  |  |  |  |  |  |  |  |
Balance, beginning of period |  | $ | 111,090 |  |  | $ | 239,146 |  |  | $ | 60,613 |  |  | $ | 6,615 |  |  | $ | 417,464 |
Provision for credit losses for loans and leases |  | 7,829 |  |  | 30 |  |  | 5,269 |  |  | 2,088 |  |  | 15,216 |
Charge-offs |  | (174) |  |  | (32,036) |  |  | (4) |  |  | (1,264) |  |  | (33,478) |
Recoveries |  | 209 |  |  | 4,511 |  |  | 63 |  |  | 618 |  |  | 5,401 |
Net recoveries (charge-offs) |  | 35 |  |  | (27,525) |  |  | 59 |  |  | (646) |  |  | (28,077) |
Balance, end of period |  | $ | 118,954 |  |  | $ | 211,651 |  |  | $ | 65,941 |  |  | $ | 8,057 |  |  | $ | 404,603 |
Reserve for unfunded commitments |  |  |  |  |  |  |  |  |  |
Balance, beginning of period |  | $ | 8,405 |  |  | $ | 6,381 |  |  | $ | 3,320 |  |  | $ | 923 |  |  | $ | 19,029 |
Provision (recapture) for credit losses on unfunded commitments |  | 1,595 |  |  | (560) |  |  | (302) |  |  | 65 |  |  | 798 |
Balance, end of period |  | 10,000 |  |  | 5,821 |  |  | 3,018 |  |  | 988 |  |  | 19,827 |
Total allowance for credit losses |  | $ | 128,954 |  |  | $ | 217,472 |  |  | $ | 68,959 |  |  | $ | 9,045 |  |  | $ | 424,430 |
|  | Six Months Ended June 30, 2023
(in thousands) |  | Commercial Real Estate |  | Commercial |  | Residential |  | Consumer & Other |  | Total
Allowance for credit losses on loans and leases |  |  |  |  |  |  |  |  |  |
Balance, beginning of period |  | $ | 77,813 |  |  | $ | 167,135 |  |  | $ | 50,329 |  |  | $ | 5,858 |  |  | $ | 301,135 |
Initial ACL on PCD loans acquired during the period |  | 8,736 |  |  | 17,204 |  |  | 454 |  |  | 98 |  |  | 26,492 |
Provision for credit losses for loans and leases (1) |  | 32,312 |  |  | 71,027 |  |  | 15,224 |  |  | 3,151 |  |  | 121,714 |
Charge-offs |  | (174) |  |  | (51,284) |  |  | (252) |  |  | (2,037) |  |  | (53,747) |
Recoveries |  | 267 |  |  | 7,569 |  |  | 186 |  |  | 987 |  |  | 9,009 |
Net recoveries (charge-offs) |  | 93 |  |  | (43,715) |  |  | (66) |  |  | (1,050) |  |  | (44,738) |
Balance, end of period |  | $ | 118,954 |  |  | $ | 211,651 |  |  | $ | 65,941 |  |  | $ | 8,057 |  |  | $ | 404,603 |
Reserve for unfunded commitments |  |  |  |  |  |  |  |  |  |
Balance, beginning of period |  | $ | 7,207 |  |  | $ | 3,049 |  |  | $ | 3,196 |  |  | $ | 769 |  |  | $ | 14,221 |
Initial ACL recorded for unfunded commitments acquired during the period |  | 2,257 |  |  | 3,066 |  |  | 268 |  |  | 176 |  |  | 5,767 |
Provision (recapture) for credit losses on unfunded commitments |  | 536 |  |  | (294) |  |  | (446) |  |  | 43 |  |  | (161) |
Balance, end of period |  | 10,000 |  |  | 5,821 |  |  | 3,018 |  |  | 988 |  |  | 19,827 |
Total allowance for credit losses |  | $ | 128,954 |  |  | $ | 217,472 |  |  | $ | 68,959 |  |  | $ | 9,045 |  |  | $ | 424,430 |
(1) Includes $88.4 million initial provision related to non-PCD loans acquired during the first quarter of 2023. Asset Quality and Non-Performing Loans and Leases The Bank manages asset quality and controls credit risk through diversification of the loan and lease portfolio and the application of policies designed to promote sound underwriting and loan and lease monitoring practices. The Bank's Credit Quality Administration department is charged with monitoring asset quality, establishing credit policies and procedures, and enforcing the consistent application of these policies and procedures across the Bank. Reviews of non-performing, past due loans and leases and larger credits, designed to identify potential charges to the allowance for credit losses, and to determine the adequacy of the allowance, are conducted on an ongoing basis. These reviews consider such factors as the financial strength of borrowers, the value of the applicable collateral, loan and lease loss experience, estimated loan and lease losses, growth in the loan and lease portfolio, prevailing economic conditions, and other factors. Loans and Leases Past Due and Non-Accrual Loans and Leases Typically, loans in a non-accrual status will not have an allowance for credit loss as they will be written down to their net realizable value or charged-off. However, the net realizable value for homogeneous leases and equipment finance agreements is determined by the LGD calculated by the CECL model and therefore leases and equipment finance agreements on non-accrual will have an allowance for credit losses until they become 181 days past due, at which time they are charged-off. The Company recognized no interest income on non-accrual loans and leases during the three and six months ended June 30, 2024 and 2023. The following tables present the carrying value of the loans and leases past due, by loan and lease class, as of the dates presented:
| June 30, 2024
(in thousands) | Greater than 30 to 59 Days Past Due |  | 60 to 89 Days Past Due |  | 90 Days or More and Accruing (2) |  | Total Past Due |  | Non-Accrual (2) |  | Current and Other |  | Total Loans and Leases
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |
Non-owner occupied term, net | $ | 972 |  |  | $ | 528 |  |  | $ | — |  |  | $ | 1,500 |  |  | $ | 4,961 |  |  | $ | 6,400,890 |  |  | $ | 6,407,351 |
Owner occupied term, net | 1,586 |  |  | 1,946 |  |  | — |  |  | 3,532 |  |  | 32,623 |  |  | 5,194,356 |  |  | 5,230,511 |
Multifamily, net | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 5,868,848 |  |  | 5,868,848 |
Construction & development, net | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,946,693 |  |  | 1,946,693 |
Residential development, net | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 269,106 |  |  | 269,106 |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |
Term, net | 3,714 |  |  | 5,700 |  |  | — |  |  | 9,414 |  |  | 29,583 |  |  | 5,520,551 |  |  | 5,559,548 |
Lines of credit & other, net | 4,676 |  |  | 4,590 |  |  | 145 |  |  | 9,411 |  |  | 2,166 |  |  | 2,547,056 |  |  | 2,558,633 |
Leases & equipment finance, net | 16,659 |  |  | 20,564 |  |  | 5,633 |  |  | 42,856 |  |  | 23,237 |  |  | 1,635,850 |  |  | 1,701,943 |
Residential |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage, net (1) | — |  |  | 13,942 |  |  | 52,652 |  |  | 66,594 |  |  | — |  |  | 5,925,569 |  |  | 5,992,163 |
Home equity loans & lines, net | 7,143 |  |  | 2,966 |  |  | 2,920 |  |  | 13,029 |  |  | — |  |  | 1,969,757 |  |  | 1,982,786 |
Consumer & other, net | 551 |  |  | 461 |  |  | 220 |  |  | 1,232 |  |  | — |  |  | 191,173 |  |  | 192,405 |
Total, net of deferred fees and costs | $ | 35,301 |  |  | $ | 50,697 |  |  | $ | 61,570 |  |  | $ | 147,568 |  |  | $ | 92,570 |  |  | $ | 37,469,849 |  |  | $ | 37,709,987 |
(1) Includes government guaranteed mortgage loans that the Bank has the right but not the obligation to repurchase that are past due 90 days or more, totaling $1.0 million at June 30, 2024. (2) Includes government guaranteed portion of $27.9 million and $36.8 million for 90 days or greater and non-accrual loans, respectively.
|  | December 31, 2023
(in thousands) |  | Greater than 30 to 59 Days Past Due |  | 60 to 89 Days Past Due |  | 90 Days or More and Accruing(2) |  | Total Past Due |  | Non-Accrual(2) |  | Current and Other |  | Total Loans and Leases
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-owner occupied term, net |  | $ | 1,270 |  |  | $ | 3,312 |  |  | $ | 437 |  |  | $ | 5,019 |  |  | $ | 4,359 |  |  | $ | 6,473,562 |  |  | $ | 6,482,940 |
Owner occupied term, net |  | 3,078 |  |  | 2,191 |  |  | 433 |  |  | 5,702 |  |  | 24,330 |  |  | 5,165,573 |  |  | 5,195,605 |
Multifamily, net |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 5,704,734 |  |  | 5,704,734 |
Construction & development, net |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,747,302 |  |  | 1,747,302 |
Residential development, net |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 323,899 |  |  | 323,899 |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |
Term, net |  | 6,341 |  |  | 2,101 |  |  | 202 |  |  | 8,644 |  |  | 14,519 |  |  | 5,513,602 |  |  | 5,536,765 |
Lines of credit & other, net |  | 1,647 |  |  | 1,137 |  |  | 66 |  |  | 2,850 |  |  | 2,760 |  |  | 2,424,517 |  |  | 2,430,127 |
Leases & equipment finance, net |  | 22,217 |  |  | 24,178 |  |  | 7,965 |  |  | 54,360 |  |  | 28,403 |  |  | 1,646,749 |  |  | 1,729,512 |
Residential |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage, net (1) |  | 282 |  |  | 9,410 |  |  | 26,331 |  |  | 36,023 |  |  | — |  |  | 6,121,143 |  |  | 6,157,166 |
Home equity loans & lines, net |  | 4,401 |  |  | 2,373 |  |  | 3,782 |  |  | 10,556 |  |  | — |  |  | 1,927,610 |  |  | 1,938,166 |
Consumer & other, net |  | 778 |  |  | 519 |  |  | 326 |  |  | 1,623 |  |  | — |  |  | 194,112 |  |  | 195,735 |
Total, net of deferred fees and costs |  | $ | 40,014 |  |  | $ | 45,221 |  |  | $ | 39,542 |  |  | $ | 124,777 |  |  | $ | 74,371 |  |  | $ | 37,242,803 |  |  | $ | 37,441,951 |
(1) Includes government guaranteed mortgage loans the Bank has the right but not the obligation to repurchase that are past due 90 days or more, totaling $1.0 million at December 31, 2023. (2) Includes government guaranteed portion of $12.3 million and $19.3 million for 90 days or greater and non-accrual loans, respectively. The following table summarizes the amortized cost of non-accrual loans for which there was no related ACL as of June 30, 2024 and December 31, 2023:
(in thousands) | June 30, 2024 |  | December 31, 2023
Commercial real estate |  |  |
Non-owner occupied term, net | $ | 37 |  |  | $ | 52 |
Owner occupied term, net | 1,604 |  |  | 1,352 |
Commercial |  |  |
Term, net | 2,574 |  |  | 3,497 |
Total non-accrual loans with no related ACL (1) | $ | 4,215 |  |  | $ | 4,901 |
(1) Excludes non-accrual collateral-dependent loans and leases that have been written down to net realizable value without an associated ACL. Collateral-Dependent Loans and Leases Loans and leases are classified as collateral-dependent when it is probable that the Bank will be unable to collect the scheduled payments of principal and interest when due, and repayment is expected to be provided substantially through the operation or sale of the collateral. There have been no significant changes in the level of collateralization from the prior periods. The following table summarizes the amortized cost basis of the collateral-dependent loans and leases by the type of collateral securing the assets as of June 30, 2024:
(in thousands) |  | Residential Real Estate |  | Commercial Real Estate |  | General Business Assets |  | Other |  | Total
Commercial real estate |  |  |  |  |  |  |  |  |  |
Non-owner occupied term, net |  | $ | — |  |  | $ | 4,242 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,242 |
Owner occupied term, net |  | — |  |  | 29,621 |  |  | — |  |  | — |  |  | 29,621 |
Commercial |  |  |  |  |  |  |  |  |  |
Term, net |  | 2,397 |  |  | — |  |  | 16,124 |  |  | 3,931 |  |  | 22,452 |
Line of credit & other, net |  | — |  |  | 1,305 |  |  | 250 |  |  | — |  |  | 1,555 |
Leases & equipment finance, net |  | — |  |  | — |  |  | 23,237 |  |  | — |  |  | 23,237 |
Residential |  |  |  |  |  |  |  |  |  |
Mortgage, net |  | 74,806 |  |  | — |  |  | — |  |  | — |  |  | 74,806 |
Home equity loans & lines, net |  | 2,431 |  |  | — |  |  | — |  |  | — |  |  | 2,431 |
Total, net of deferred fees and costs |  | $ | 79,634 |  |  | $ | 35,168 |  |  | $ | 39,611 |  |  | $ | 3,931 |  |  | $ | 158,344 |
Loan and Lease Modifications Made to Borrowers Experiencing Financial Difficulty Occasionally, the Company offers modifications of loans or leases to borrowers experiencing financial difficulty by providing term extensions, interest rate reductions, principal or interest forgiveness, an other-than-insignificant payment delay, or any combination of these modifications. Typically, one type of concession, such as a term extension, is granted initially. If the borrower continues to experience financial difficulty, another concession, such as principal forgiveness, may be granted. For the loans included in the "combination" columns below, multiple types of modifications have been made on the same loan within the current reporting period. The combination is at least two of the following: term extension, principal forgiveness, an other-than-insignificant payment delay, or an interest rate reduction. The ACL on modified loans or leases is measured using the same credit loss estimation methods used to determine the ACL for all other loans and leases held for investment. These methods incorporate the post-modification loan or lease terms, as well as defaults and charge-offs associated with historical modified loans and leases. The following tables present the amortized cost basis of loans and leases that were both experiencing financial difficulty and modified during the three and six months ended June 30, 2024 and 2023, by class and type of modification. The percentage of the amortized cost basis of loans and leases that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivable is also presented below.
|  | Three Months Ended June 30, 2024
(in thousands) |  | Interest Rate Reduction |  |  |  | Term Extension |  | Other -Than-Insignificant Payment Delay |  |  |  |  |  |  |  |  |  | Total |  | % of total class of financing receivable
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied term, net |  | $ | 4,041 |  |  |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  |  |  |  |  | $ | 4,041 |  |  | 0.08 | %
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Term, net |  | 1,237 |  |  |  |  | 5,493 |  |  | 1,988 |  |  |  |  |  |  |  |  |  |  | 8,718 |  |  | 0.16 | %
Lines of credit & other, net |  | — |  |  |  |  | 3,728 |  |  | 319 |  |  |  |  |  |  |  |  |  |  | 4,047 |  |  | 0.16 | %
Leases & equipment finance, net |  | — |  |  |  |  | 866 |  |  | — |  |  |  |  |  |  |  |  |  |  | 866 |  |  | 0.05 | %
Residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage, net |  | — |  |  |  |  | 1,447 |  |  | 7,389 |  |  |  |  |  |  |  |  |  |  | 8,836 |  |  | 0.15 | %
Total loans and leases experiencing financial difficulty |  | $ | 5,278 |  |  |  |  | $ | 11,534 |  |  | $ | 9,696 |  |  |  |  |  |  |  |  |  |  | $ | 26,508 |  |  | 0.07 | %
|  | Six Months Ended June 30, 2024
(in thousands) |  | Interest Rate Reduction |  |  |  | Term Extension |  | Other -Than-Insignificant Payment Delay |  |  |  |  |  |  |  |  |  | Total |  | % of total class of financing receivable
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-owner occupied term, net |  | $ | — |  |  |  |  | $ | — |  |  | $ | 17,577 |  |  |  |  |  |  |  |  |  |  | $ | 17,577 |  |  | 0.27 | %
Owner occupied term, net |  | 4,041 |  |  |  |  | — |  |  | 530 |  |  |  |  |  |  |  |  |  |  | 4,571 |  |  | 0.09 | %
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Term, net |  | 1,237 |  |  |  |  | 5,944 |  |  | 1,988 |  |  |  |  |  |  |  |  |  |  | 9,169 |  |  | 0.16 | %
Lines of credit & other, net |  | — |  |  |  |  | 10,913 |  |  | 319 |  |  |  |  |  |  |  |  |  |  | 11,232 |  |  | 0.44 | %
Leases & equipment finance, net |  | — |  |  |  |  | 1,457 |  |  | — |  |  |  |  |  |  |  |  |  |  | 1,457 |  |  | 0.09 | %
Residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage, net |  | — |  |  |  |  | 2,456 |  |  | 14,355 |  |  |  |  |  |  |  |  |  |  | 16,811 |  |  | 0.28 | %
Total loans and leases experiencing financial difficulty |  | $ | 5,278 |  |  |  |  | $ | 20,770 |  |  | $ | 34,769 |  |  |  |  |  |  |  |  |  |  | $ | 60,817 |  |  | 0.16 | %
|  | Three Months Ended June 30, 2023
(in thousands) |  | Interest Rate Reduction |  |  |  | Term Extension |  | Other -Than-Insignificant Payment Delay |  |  |  |  |  | Combination - Term Extension and Other-than-Insignificant Payment Delay |  |  |  | Total |  | % of total class of financing receivable
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied term, net |  | $ | 976 |  |  |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  | $ | — |  |  |  |  | $ | 976 |  |  | 0.02 | %
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Term, net |  | 377 |  |  |  |  | — |  |  | — |  |  |  |  |  |  | — |  |  |  |  | 377 |  |  | 0.01 | %
Lines of credit & other, net |  | — |  |  |  |  | 1,850 |  |  | — |  |  |  |  |  |  | — |  |  |  |  | 1,850 |  |  | 0.08 | %
Leases & equipment finance, net |  | — |  |  |  |  | 194 |  |  | — |  |  |  |  |  |  | — |  |  |  |  | 194 |  |  | 0.01 | %
Residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage, net |  | — |  |  |  |  | 454 |  |  | 13,348 |  |  |  |  |  |  | 1,261 |  |  |  |  | 15,063 |  |  | 0.24 | %
Total loans and leases experiencing financial difficulty |  | $ | 1,353 |  |  |  |  | $ | 2,498 |  |  | $ | 13,348 |  |  |  |  |  |  | $ | 1,261 |  |  |  |  | $ | 18,460 |  |  | 0.05 | %
|  | Six Months Ended June 30, 2023
(in thousands) |  | Interest Rate Reduction |  |  |  | Term Extension |  | Other -Than-Insignificant Payment Delay |  | Combination - Interest Rate Reduction and Term Extension |  |  |  | Combination - Term Extension and Other-than-Insignificant Payment Delay |  |  |  | Total |  | % of total class of financing receivable
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied term, net |  | $ | 976 |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | — |  |  |  |  | $ | 976 |  |  | 0.02 | %
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Term, net |  | 377 |  |  |  |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  |  |  | 377 |  |  | 0.01 | %
Lines of credit & other, net |  | — |  |  |  |  | 2,945 |  |  | — |  |  | — |  |  |  |  | — |  |  |  |  | 2,945 |  |  | 0.13 | %
Leases & equipment finance, net |  | — |  |  |  |  | 603 |  |  | — |  |  | — |  |  |  |  | — |  |  |  |  | 603 |  |  | 0.03 | %
Residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage, net |  | — |  |  |  |  | 454 |  |  | 22,017 |  |  | — |  |  |  |  | 2,934 |  |  |  |  | 25,405 |  |  | 0.40 | %
Home equity loans & lines, net |  | — |  |  |  |  | — |  |  | — |  |  | 244 |  |  |  |  | — |  |  |  |  | 244 |  |  | 0.01 | %
Total loans and leases experiencing financial difficulty |  | $ | 1,353 |  |  |  |  | $ | 4,002 |  |  | $ | 22,017 |  |  | $ | 244 |  |  |  |  | $ | 2,934 |  |  |  |  | $ | 30,550 |  |  | 0.08 | %
|  | Three Months Ended June 30, 2024 |  |
Loan Type |  | Financial Effect |  |
Commercial real estate |  |  |  |
Owner occupied term, net |  | Reduced weighted average interest rate by 3.79%. |  |
Commercial |  |  |  |
Term, net |  | Reduced weighted average interest rate by 5.00%. Weighted average term extension of 6 months to the life of the loans. Deferred $77,000 of principal and interest payments. |  |
Lines of credit & other, net |  | Weighted average term extension of 9 months to the life of the loans. Deferred $48,000 of principal and interest payments. |  |
Leases & equipment finance, net |  | Weighted average term extension of 11 months to the life of the loans and leases. |  |
Residential |  |  |  |
Mortgage, net |  | Weighted average term extension of 4.7 years to the life of the loans. Deferred $531,000 of principal and interest payments. |  |
|  | Six Months Ended June 30, 2024 |  |
Loan Type |  | Financial Effect |  |
Commercial real estate |  |  |  |
Non-owner occupied term, net |  | Deferred $4.0 million of principal and interest payments. |  |
Owner occupied term, net |  | Reduced weighted average interest rate by 3.79%. Deferred $51,000 of principal and interest payments. |  |
Commercial |  |  |  |
Term, net |  | Reduced weighted average interest rate by 5.00%. Weighted average term extension of 6 months to the life of the loans. Deferred $77,000 of principal and interest payments. |  |
Lines of credit & other, net |  | Weighted average term extension of 7 months to the life of the loans. Deferred $48,000 of principal and interest payments. |  |
Leases & equipment finance, net |  | Weighted average term extension of 10 months to the life of the loans and leases. |  |
Residential |  |  |  |
Mortgage, net |  | Weighted average term extension of 8.3 years to the life of the loans. Deferred $1.0 million of principal and interest payments. |  |
|  | Three Months Ended June 30, 2023
Loan Type |  | Financial Effect
Commercial real estate |  |
Owner occupied term, net |  | Reduced weighted average interest rate by 2.41%.
Commercial |  |
Term, net |  | Reduced weighted average interest rate by 4.50%.
Lines of credit & other, net |  | Weighted average term extension of 6 months to the life of the loans.
Leases & equipment finance, net |  | Weighted average term extension of 10 months to the life of the loans.
Residential |  |
Mortgage, net |  | Weighted average term extension of 6.4 years to the life of the loans. Deferred $916,000 of principal and interest payments. Combined modifications had a financial effect of weighted average term extension of 13.9 years to the life of the loans, and deferred $37,000 of principal and interest payments.
|  | Six Months Ended June 30, 2023
Loan Type |  | Financial Effect
Commercial real estate |  |
Owner occupied term, net |  | Reduced weighted average interest rate by 2.41%.
Commercial |  |
Term, net |  | Reduced weighted average interest rate by 4.50%.
Lines of credit & other, net |  | Weighted average term extension of 8 months to the life of the loans.
Leases & equipment finance, net |  | Weighted average term extension of 9 months to the life of the loans.
Residential |  |
Mortgage, net |  | Weighted average term extension of 6.4 years to the life of the loans. Deferred $1.2 million of principal and interest payments. Combined modifications had a financial effect of weighted average term extension of 13.4 years to the life of the loans, and deferred $156,000 of principal payment and interest payments.
Home equity loans & lines, net |  | Weighted average term extension of 6.9 years to the life of the loan and decreased the weighted average interest rate by 3.44%.
The Company closely monitors the performance of loans and leases that are modified for borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. Loans and leases are considered to be in payment default at 90 or more days past due. The following tables present the amortized cost basis of modified loans as of June 30, 2024 that, within twelve months of the modification date, experienced a subsequent default during the periods presented:
|  | Three Months Ended June 30, 2024
(in thousands) |  | Interest rate reduction |  |  |  | Term Extension |  | Other than insignificant payment delay |  |  |  |  |  |  |  |  |  | Total
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied term, net |  | $ | 3,064 |  |  |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  |  |  |  |  | $ | 3,064 |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Lines of credit & other, net |  | — |  |  |  |  | 250 |  |  | — |  |  |  |  |  |  |  |  |  |  | 250 |
Residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage, net |  | — |  |  |  |  | 300 |  |  | 743 |  |  |  |  |  |  |  |  |  |  | 1,043 |
Total loans and leases experiencing financial difficulty with a subsequent default |  | $ | 3,064 |  |  |  |  | $ | 550 |  |  | $ | 743 |  |  |  |  |  |  |  |  |  |  | $ | 4,357 |
|  | Six Months Ended June 30, 2024
(in thousands) |  | Interest rate reduction |  |  |  | Term Extension |  | Other than insignificant payment delay |  |  |  |  |  |  |  |  |  | Total
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied term, net |  | $ | 3,064 |  |  |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  |  |  |  |  | $ | 3,064 |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Lines of credit & other, net |  | — |  |  |  |  | 250 |  |  | — |  |  |  |  |  |  |  |  |  |  | 250 |
Residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage, net |  | — |  |  |  |  | 300 |  |  | 743 |  |  |  |  |  |  |  |  |  |  | 1,043 |
Total loans and leases experiencing financial difficulty with a subsequent default |  | $ | 3,064 |  |  |  |  | $ | 550 |  |  | $ | 743 |  |  |  |  |  |  |  |  |  |  | $ | 4,357 |
For the three and six months ended June 30, 2023, all modified loans and leases were current and there were no loan or lease modifications made to borrowers experiencing financial difficulty that subsequently defaulted. The following tables present an age analysis of loans and leases as of June 30, 2024 that have been modified within the prior twelve months and as of June 30, 2023 that have been modified since January 1, 2023, the date of the adoption of ASU 2022-02:
|  | June 30, 2024
Loan Type |  | Current |  | Greater than 30 to 59 Days Past Due |  | 60 to 89 Days Past Due |  | 90 Days or Greater Past Due |  | Nonaccrual |  | Total
(in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |
Non-owner occupied term, net |  | $ | 47,557 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 47,557 |
Owner occupied term, net |  | 2,033 |  |  | — |  |  | — |  |  | — |  |  | 3,594 |  |  | 5,627 |
Commercial |  |  |  |  |  |  |  |  |  |  |  |
Term, net |  | 9,784 |  |  | — |  |  | — |  |  | — |  |  | 1,237 |  |  | 11,021 |
Lines of credit & other, net |  | 50,268 |  |  | — |  |  | 999 |  |  | — |  |  | 1,751 |  |  | 53,018 |
Leases & equipment finance, net |  | 1,430 |  |  | 193 |  |  | 227 |  |  | 15 |  |  | 106 |  |  | 1,971 |
Residential |  |  |  |  |  |  |  |  |  |  |  |
Mortgage, net |  | 33,971 |  |  | — |  |  | 2,841 |  |  | 5,103 |  |  | — |  |  | 41,915 |
Total loans and leases, net of deferred fees and costs |  | $ | 145,043 |  |  | $ | 193 |  |  | $ | 4,067 |  |  | $ | 5,118 |  |  | $ | 6,688 |  |  | $ | 161,109 |
|  | June 30, 2023
Loan Type |  | Current |  | Greater than 30 to 59 Days Past Due |  | 60 to 89 Days Past Due |  | 90 Days or Greater Past Due |  | Nonaccrual |  | Total
(in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied term, net |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 976 |  |  | $ | 976 |
Commercial |  |  |  |  |  |  |  |  |  |  |  |
Term, net |  | — |  |  | — |  |  | — |  |  | — |  |  | 377 |  |  | 377 |
Lines of credit & other, net |  | 2,945 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,945 |
Leases & equipment finance, net |  | 492 |  |  | 111 |  |  | — |  |  | — |  |  | — |  |  | 603 |
Residential |  |  |  |  |  |  |  |  |  |  |  |
Mortgage, net |  | 25,405 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 25,405 |
Home equity loans & lines, net |  | 244 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 244 |
Total loans and leases, net of deferred fees and costs |  | $ | 29,086 |  |  | $ | 111 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,353 |  |  | $ | 30,550 |
Credit Quality Indicators Management regularly reviews loans and leases in the portfolio to assess credit quality indicators and to determine appropriate loan classification and grading. The Bank differentiates its lending portfolios into homogeneous and non-homogeneous loans and leases. Homogeneous loans and leases are initially risk rated on a single risk rating scale based on the past due status of the loan or lease. Homogeneous loans and leases that have risk-based modifications or forbearances enter into an alternative elevated risk rating scale that freezes the elevated risk rating and requires six consecutive months of scheduled payments without delinquency before the loan or lease can return to the delinquency-based risk rating scale. The Bank's risk rating methodology for its non-homogeneous loans and leases uses a dual risk rating approach to assess the credit risk. This approach uses two scales to provide a comprehensive assessment of credit default risk and recovery risk. The probability of default scale measures a borrower's credit default risk using risk ratings ranging from 1 to 16, where a higher rating represents higher risk. For non-homogeneous loans and leases, PD ratings of 1 through 9 are "pass" grades, while PD ratings of 10 and 11 are "watch" grades. PD ratings of 12-16 correspond to the regulatory-defined categories of special mention (12), substandard (13-14), doubtful (15), and loss (16). The loss given default scale measures the amount of loss that may not be recovered in the event of a default, using six alphabetic ratings from A-F, where a higher rating represents higher risk. The LGD scale quantifies recovery risk associated with an event of default and predicts the amount of loss that would be incurred on a loan or lease if a borrower were to experience a major default and includes variables that may be external to the borrower, such as industry, geographic location, and credit cycle stage. It could also include variables specific to the loan or lease, including collateral valuation, covenant structure and debt type. The product of the borrower's PD and a loan or lease LGD is the loan or lease expected loss, expressed as a percentage. This provides a common language of credit risk across different loans. The PD scale estimates the likelihood that a borrower will experience a major default on any of its debt obligations within a specified time period. Examples of major defaults include payments 90 days or more past due, non-accrual classification, bankruptcy filing, or a full or partial charge-off of a loan or lease. As such, the PD scale represents the credit quality indicator for non-homogeneous loans and leases. The credit quality indicator rating categories follow regulatory classification and can be generally described by the following groupings for loans and leases: Pass/Watch—A pass loan or lease is a loan or lease with a credit risk level acceptable to the Bank for extending credit and maintaining normal credit monitoring. A watch loan or lease is considered pass rated but has a heightened level of unacceptable default risk due to an emerging risk element or declining performance trend. Watch ratings are expected to be temporary, with issues resolved or manifested to the extent that a higher or lower risk rating would be appropriate within a short period of time. Special Mention—A special mention loan or lease has potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the institution's credit position at some future date. These borrowers have an elevated probability of default but not to the point of a substandard classification. Substandard—A substandard loan or lease is inadequately protected by the current net worth and paying capacity of the borrower or of the collateral pledged, if any. Loans and leases classified as substandard have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. Doubtful—Loans or leases classified as doubtful have all the weaknesses inherent in those classified as substandard with the added characteristic that the weaknesses make collection or liquidation in full, based on currently existing facts, conditions, and values, highly questionable and improbable. Loss—Loans or leases classified as loss are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. The following tables represent the amortized costs basis of the loans and leases by credit classification and vintage year by loan and lease class of financing receivable as of the dates presented:
(in thousands) |  | Term Loans Amortized Cost Basis by Origination Year |  | Revolving Loans Amortized Cost Basis |  | Revolving to Non-Revolving Loans Amortized Cost |  |  |
| June 30, 2024 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  |  |  | Total |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-owner occupied term, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit quality indicator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Pass/Watch |  | $ | 120,203 |  |  | $ | 586,414 |  |  | $ | 1,287,806 |  |  | $ | 1,170,822 |  |  | $ | 593,654 |  |  | $ | 2,452,050 |  |  | $ | 61,247 |  |  | $ | 1,663 |  |  | $ | 6,273,859 |  |
| Special mention |  | — |  |  | — |  |  | 844 |  |  | 1,243 |  |  | 467 |  |  | 19,452 |  |  | — |  |  | — |  |  | 22,006 |  |
| Substandard |  | 17,577 |  |  | 29,979 |  |  | 3,061 |  |  | 528 |  |  | — |  |  | 59,659 |  |  | — |  |  | — |  |  | 110,804 |  |
| Doubtful |  | — |  |  | — |  |  | — |  |  | 682 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 682 |  |
Total non-owner occupied term, net |  | $ | 137,780 |  |  | $ | 616,393 |  |  | $ | 1,291,711 |  |  | $ | 1,173,275 |  |  | $ | 594,121 |  |  | $ | 2,531,161 |  |  | $ | 61,247 |  |  | $ | 1,663 |  |  | $ | 6,407,351 |  |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 86 |  |  | $ | — |  |  | $ | — |  |  | $ | 86 |  |
Owner occupied term, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit quality indicator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Pass/Watch |  | $ | 254,451 |  |  | $ | 516,936 |  |  | $ | 1,063,606 |  |  | $ | 923,506 |  |  | $ | 427,382 |  |  | $ | 1,781,628 |  |  | $ | 74,543 |  |  | $ | 54 |  |  | $ | 5,042,106 |  |
| Special mention |  | 249 |  |  | 1,280 |  |  | 7,029 |  |  | 11,989 |  |  | 9,959 |  |  | 25,538 |  |  | 1,926 |  |  | — |  |  | 57,970 |  |
| Substandard |  | 3,594 |  |  | 5,363 |  |  | 3,714 |  |  | 47,633 |  |  | 17,302 |  |  | 47,366 |  |  | — |  |  | — |  |  | 124,972 |  |
| Doubtful |  | — |  |  | — |  |  | 2,924 |  |  | — |  |  | — |  |  | 983 |  |  | — |  |  | — |  |  | 3,907 |  |
| Loss |  | — |  |  | — |  |  | 963 |  |  | 189 |  |  | 404 |  |  | — |  |  | — |  |  | — |  |  | 1,556 |  |
Total owner occupied term, net |  | $ | 258,294 |  |  | $ | 523,579 |  |  | $ | 1,078,236 |  |  | $ | 983,317 |  |  | $ | 455,047 |  |  | $ | 1,855,515 |  |  | $ | 76,469 |  |  | $ | 54 |  |  | $ | 5,230,511 |  |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | 569 |  |  | $ | — |  |  | $ | — |  |  | $ | 91 |  |  | $ | — |  |  | $ | — |  |  | $ | 660 |  |
Multifamily, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit quality indicator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Pass/Watch |  | $ | 70,557 |  |  | $ | 279,966 |  |  | $ | 2,007,723 |  |  | $ | 1,732,846 |  |  | $ | 409,038 |  |  | $ | 1,298,746 |  |  | $ | 56,392 |  |  | $ | — |  |  | $ | 5,855,268 |  |
| Special mention |  | — |  |  | — |  |  | 1,072 |  |  | 1,265 |  |  | 934 |  |  | 6,242 |  |  | — |  |  | — |  |  | 9,513 |  |
| Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4,067 |  |  | — |  |  | — |  |  | 4,067 |  |
Total multifamily, net |  | $ | 70,557 |  |  | $ | 279,966 |  |  | $ | 2,008,795 |  |  | $ | 1,734,111 |  |  | $ | 409,972 |  |  | $ | 1,309,055 |  |  | $ | 56,392 |  |  | $ | — |  |  | $ | 5,868,848 |  |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |
Construction & development, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit quality indicator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Pass/Watch |  | $ | 206,345 |  |  | $ | 343,932 |  |  | $ | 834,408 |  |  | $ | 340,935 |  |  | $ | 147,635 |  |  | $ | 19,467 |  |  | $ | 39,662 |  |  | $ | — |  |  | $ | 1,932,384 |  |
| Special mention |  | — |  |  | — |  |  | — |  |  | 14,309 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 14,309 |  |
Total construction & development, net |  | $ | 206,345 |  |  | $ | 343,932 |  |  | $ | 834,408 |  |  | $ | 355,244 |  |  | $ | 147,635 |  |  | $ | 19,467 |  |  | $ | 39,662 |  |  | $ | — |  |  | $ | 1,946,693 |  |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |
Residential development, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit quality indicator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Pass/Watch |  | $ | 31,550 |  |  | $ | 51,413 |  |  | $ | 15,556 |  |  | $ | 495 |  |  | $ | 467 |  |  | $ | 970 |  |  | $ | 161,427 |  |  | $ | 7,228 |  |  | $ | 269,106 |  |
Total residential development, net |  | $ | 31,550 |  |  | $ | 51,413 |  |  | $ | 15,556 |  |  | $ | 495 |  |  | $ | 467 |  |  | $ | 970 |  |  | $ | 161,427 |  |  | $ | 7,228 |  |  | $ | 269,106 |  |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |
Total commercial real estate |  | $ | 704,526 |  |  | $ | 1,815,283 |  |  | $ | 5,228,706 |  |  | $ | 4,246,442 |  |  | $ | 1,607,242 |  |  | $ | 5,716,168 |  |  | $ | 395,197 |  |  | $ | 8,945 |  |  | $ | 19,722,509 |  |
(in thousands) |  | Term Loans Amortized Cost Basis by Origination Year |  | Revolving Loans Amortized Cost Basis |  | Revolving to Non-Revolving Loans Amortized Cost |  |  |
| June 30, 2024 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  |  |  | Total |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Term, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit quality indicator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Pass/Watch |  | $ | 423,462 |  |  | $ | 812,209 |  |  | $ | 1,143,205 |  |  | $ | 926,619 |  |  | $ | 339,661 |  |  | $ | 726,874 |  |  | $ | 1,054,033 |  |  | $ | 2,906 |  |  | $ | 5,428,969 |  |
| Special mention |  | 301 |  |  | 2,413 |  |  | 13,324 |  |  | 9,015 |  |  | 689 |  |  | 19,411 |  |  | — |  |  | — |  |  | 45,153 |  |
| Substandard |  | 19,143 |  |  | 6,363 |  |  | 10,277 |  |  | 9,271 |  |  | 2,083 |  |  | 9,723 |  |  | 9,558 |  |  | — |  |  | 66,418 |  |
| Doubtful |  | — |  |  | 1,160 |  |  | 5,525 |  |  | 5,804 |  |  | 683 |  |  | 2,231 |  |  | — |  |  | — |  |  | 15,403 |  |
| Loss |  | — |  |  | — |  |  | — |  |  | 329 |  |  | 1,531 |  |  | 1,745 |  |  | — |  |  | — |  |  | 3,605 |  |
Total term, net |  | $ | 442,906 |  |  | $ | 822,145 |  |  | $ | 1,172,331 |  |  | $ | 951,038 |  |  | $ | 344,647 |  |  | $ | 759,984 |  |  | $ | 1,063,591 |  |  | $ | 2,906 |  |  | $ | 5,559,548 |  |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross charge-offs |  | $ | — |  |  | $ | 625 |  |  | $ | 1,246 |  |  | $ | 774 |  |  | $ | 319 |  |  | $ | 605 |  |  | $ | 820 |  |  | $ | — |  |  | $ | 4,389 |  |
Lines of credit & other, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit quality indicator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Pass/Watch |  | $ | 55,248 |  |  | $ | 87,188 |  |  | $ | 70,624 |  |  | $ | 25,376 |  |  | $ | 10,380 |  |  | $ | 24,589 |  |  | $ | 2,072,679 |  |  | $ | 25,572 |  |  | $ | 2,371,656 |  |
| Special mention |  | 511 |  |  | 1,385 |  |  | 614 |  |  | 452 |  |  | 15 |  |  | 102 |  |  | 35,714 |  |  | 687 |  |  | 39,480 |  |
| Substandard |  | 33,626 |  |  | 3,505 |  |  | 3,241 |  |  | 161 |  |  | — |  |  | 132 |  |  | 101,046 |  |  | 5,396 |  |  | 147,107 |  |
| Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 199 |  |  | — |  |  | 199 |  |
| Loss |  | — |  |  | — |  |  | 191 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 191 |  |
Total lines of credit & other, net |  | $ | 89,385 |  |  | $ | 92,078 |  |  | $ | 74,670 |  |  | $ | 25,989 |  |  | $ | 10,395 |  |  | $ | 24,823 |  |  | $ | 2,209,638 |  |  | $ | 31,655 |  |  | $ | 2,558,633 |  |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross charge-offs |  | $ | — |  |  | $ | 309 |  |  | $ | 309 |  |  | $ | 32 |  |  | $ | 42 |  |  | $ | 384 |  |  | $ | 18,798 |  |  | $ | 1,107 |  |  | $ | 20,981 |  |
Leases & equipment finance, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit quality indicator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Pass/Watch |  | $ | 348,475 |  |  | $ | 555,894 |  |  | $ | 396,315 |  |  | $ | 145,332 |  |  | $ | 59,880 |  |  | $ | 63,466 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,569,362 |  |
| Special mention |  | 459 |  |  | 44,362 |  |  | 12,718 |  |  | 4,216 |  |  | 777 |  |  | 412 |  |  | — |  |  | — |  |  | 62,944 |  |
| Substandard |  | 2,136 |  |  | 8,606 |  |  | 11,499 |  |  | 4,793 |  |  | 1,436 |  |  | 1,934 |  |  | — |  |  | — |  |  | 30,404 |  |
| Doubtful |  | 459 |  |  | 8,648 |  |  | 17,401 |  |  | 6,961 |  |  | 1,920 |  |  | 1,117 |  |  | — |  |  | — |  |  | 36,506 |  |
| Loss |  | 20 |  |  | 907 |  |  | 1,259 |  |  | 435 |  |  | 55 |  |  | 51 |  |  | — |  |  | — |  |  | 2,727 |  |
Total leases & equipment finance, net |  | $ | 351,549 |  |  | $ | 618,417 |  |  | $ | 439,192 |  |  | $ | 161,737 |  |  | $ | 64,068 |  |  | $ | 66,980 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,701,943 |  |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross charge-offs |  | $ | — |  |  | $ | 9,668 |  |  | $ | 29,002 |  |  | $ | 11,349 |  |  | $ | 3,279 |  |  | $ | 2,125 |  |  | $ | — |  |  | $ | — |  |  | $ | 55,423 |  |
Total commercial |  | $ | 883,840 |  |  | $ | 1,532,640 |  |  | $ | 1,686,193 |  |  | $ | 1,138,764 |  |  | $ | 419,110 |  |  | $ | 851,787 |  |  | $ | 3,273,229 |  |  | $ | 34,561 |  |  | $ | 9,820,124 |  |
Residential: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit quality indicator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Pass/Watch |  | $ | 77,660 |  |  | $ | 245,163 |  |  | $ | 1,825,600 |  |  | $ | 2,179,061 |  |  | $ | 501,053 |  |  | $ | 1,098,078 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,926,615 |  |
| Special mention |  | 2,138 |  |  | 1,359 |  |  | 294 |  |  | 3,431 |  |  | 330 |  |  | 6,390 |  |  | — |  |  | — |  |  | 13,942 |  |
| Substandard |  | 2,041 |  |  | 6,685 |  |  | 5,586 |  |  | 5,025 |  |  | 2,977 |  |  | 18,457 |  |  | — |  |  | — |  |  | 40,771 |  |
| Loss |  | 358 |  |  | 1,238 |  |  | 2,460 |  |  | 3,299 |  |  | 1,387 |  |  | 2,093 |  |  | — |  |  | — |  |  | 10,835 |  |
Total mortgage, net |  | $ | 82,197 |  |  | $ | 254,445 |  |  | $ | 1,833,940 |  |  | $ | 2,190,816 |  |  | $ | 505,747 |  |  | $ | 1,125,018 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,992,163 |  |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 292 |  |  | $ | — |  |  | $ | 368 |  |  | $ | — |  |  | $ | — |  |  | $ | 660 |  |
(in thousands) |  | Term Loans Amortized Cost Basis by Origination Year |  | Revolving Loans Amortized Cost Basis |  | Revolving to Non-Revolving Loans Amortized Cost |  |  |
| June 30, 2024 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  |  |  | Total |
Home equity loans & lines, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit quality indicator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Pass/Watch |  | $ | 62 |  |  | $ | 915 |  |  | $ | 2,747 |  |  | $ | 1,825 |  |  | $ | 626 |  |  | $ | 43,186 |  |  | $ | 1,906,045 |  |  | $ | 14,349 |  |  | $ | 1,969,755 |  |
| Special mention |  | — |  |  | — |  |  | 237 |  |  | 44 |  |  | — |  |  | 1,463 |  |  | 7,925 |  |  | 440 |  |  | 10,109 |  |
| Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 480 |  |  | 306 |  |  | 243 |  |  | 1,029 |  |
| Loss |  | — |  |  | — |  |  | — |  |  | — |  |  | 101 |  |  | 640 |  |  | 820 |  |  | 332 |  |  | 1,893 |  |
Total home equity loans & lines, net |  | $ | 62 |  |  | $ | 915 |  |  | $ | 2,984 |  |  | $ | 1,869 |  |  | $ | 727 |  |  | $ | 45,769 |  |  | $ | 1,915,096 |  |  | $ | 15,364 |  |  | $ | 1,982,786 |  |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 109 |  |  | $ | 225 |  |  | $ | — |  |  | $ | 334 |  |
Total residential |  | $ | 82,259 |  |  | $ | 255,360 |  |  | $ | 1,836,924 |  |  | $ | 2,192,685 |  |  | $ | 506,474 |  |  | $ | 1,170,787 |  |  | $ | 1,915,096 |  |  | $ | 15,364 |  |  | $ | 7,974,949 |  |
Consumer & other, net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit quality indicator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Pass/Watch |  | $ | 19,763 |  |  | $ | 21,138 |  |  | $ | 12,441 |  |  | $ | 5,863 |  |  | $ | 3,860 |  |  | $ | 6,648 |  |  | $ | 121,010 |  |  | $ | 449 |  |  | $ | 191,172 |  |
| Special mention |  | 55 |  |  | 49 |  |  | 22 |  |  | — |  |  | — |  |  | 61 |  |  | 642 |  |  | 183 |  |  | 1,012 |  |
| Substandard |  | — |  |  | 6 |  |  | — |  |  | — |  |  | — |  |  | 3 |  |  | 146 |  |  | 66 |  |  | 221 |  |
Total consumer & other, net |  | $ | 19,818 |  |  | $ | 21,193 |  |  | $ | 12,463 |  |  | $ | 5,863 |  |  | $ | 3,860 |  |  | $ | 6,712 |  |  | $ | 121,798 |  |  | $ | 698 |  |  | $ | 192,405 |  |
Current YTD period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross charge-offs |  | $ | — |  |  | $ | 1,614 |  |  | $ | 94 |  |  | $ | 25 |  |  | $ | — |  |  | $ | 236 |  |  | $ | 1,170 |  |  | $ | 282 |  |  | $ | 3,421 |  |
Grand total |  | $ | 1,690,443 |  |  | $ | 3,624,476 |  |  | $ | 8,764,286 |  |  | $ | 7,583,754 |  |  | $ | 2,536,686 |  |  | $ | 7,745,454 |  |  | $ | 5,705,320 |  |  | $ | 59,568 |  |  | $ | 37,709,987 |  |
(in thousands) |  | Term Loans Amortized Cost Basis by Origination Year |  | Revolving Loans Amortized Cost Basis |  | Revolving to Non-Revolving Loans Amortized Cost |  |
| December 31, 2023 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  |  |  | Total
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-owner occupied term, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit quality indicator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Pass/Watch |  | $ | 582,178 |  |  | $ | 1,307,143 |  |  | $ | 1,182,485 |  |  | $ | 615,021 |  |  | $ | 764,821 |  |  | $ | 1,832,231 |  |  | $ | 41,194 |  |  | $ | — |  |  | $ | 6,325,073 |
| Special mention |  | — |  |  | 317 |  |  | 3,478 |  |  | 1,337 |  |  | 2,480 |  |  | 16,352 |  |  | — |  |  | — |  |  | 23,964 |
| Substandard |  | 32,461 |  |  | 749 |  |  | — |  |  | 1,090 |  |  | 35,214 |  |  | 64,304 |  |  | — |  |  | — |  |  | 133,818 |
| Loss |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 85 |  |  | — |  |  | — |  |  | 85 |
Total non-owner occupied term, net |  | $ | 614,639 |  |  | $ | 1,308,209 |  |  | $ | 1,185,963 |  |  | $ | 617,448 |  |  | $ | 802,515 |  |  | $ | 1,912,972 |  |  | $ | 41,194 |  |  | $ | — |  |  | $ | 6,482,940 |
Prior Year End period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Owner occupied term, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit quality indicator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Pass/Watch |  | $ | 532,482 |  |  | $ | 1,067,388 |  |  | $ | 972,130 |  |  | $ | 448,569 |  |  | $ | 581,616 |  |  | $ | 1,351,172 |  |  | $ | 67,063 |  |  | $ | — |  |  | $ | 5,020,420 |
| Special mention |  | 1,575 |  |  | 5,950 |  |  | 6,175 |  |  | 4,945 |  |  | 14,610 |  |  | 15,513 |  |  | 1,932 |  |  | — |  |  | 50,700 |
| Substandard |  | 4,034 |  |  | 7,707 |  |  | 48,281 |  |  | 17,275 |  |  | 10,513 |  |  | 35,216 |  |  | — |  |  | — |  |  | 123,026 |
| Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 90 |  |  | — |  |  | — |  |  | 90 |
| Loss |  | — |  |  | 963 |  |  | — |  |  | 404 |  |  | — |  |  | 2 |  |  | — |  |  | — |  |  | 1,369 |
Total owner occupied term, net |  | $ | 538,091 |  |  | $ | 1,082,008 |  |  | $ | 1,026,586 |  |  | $ | 471,193 |  |  | $ | 606,739 |  |  | $ | 1,401,993 |  |  | $ | 68,995 |  |  | $ | — |  |  | $ | 5,195,605 |
Prior Year End period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross charge-offs |  | $ | — |  |  | $ | 16 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 787 |  |  | $ | — |  |  | $ | — |  |  | $ | 803 |
Multifamily, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit quality indicator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Pass/Watch |  | $ | 272,084 |  |  | $ | 1,982,075 |  |  | $ | 1,660,492 |  |  | $ | 400,280 |  |  | $ | 590,379 |  |  | $ | 745,705 |  |  | $ | 51,480 |  |  | $ | — |  |  | $ | 5,702,495 |
| Special mention |  | — |  |  | — |  |  | 1,278 |  |  | — |  |  | 961 |  |  | — |  |  | — |  |  | — |  |  | 2,239 |
Total multifamily, net |  | $ | 272,084 |  |  | $ | 1,982,075 |  |  | $ | 1,661,770 |  |  | $ | 400,280 |  |  | $ | 591,340 |  |  | $ | 745,705 |  |  | $ | 51,480 |  |  | $ | — |  |  | $ | 5,704,734 |
Prior Year End period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Construction & development, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit quality indicator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Pass/Watch |  | $ | 248,623 |  |  | $ | 716,207 |  |  | $ | 530,305 |  |  | $ | 186,680 |  |  | $ | 21,990 |  |  | $ | 10,738 |  |  | $ | 31,289 |  |  | $ | — |  |  | $ | 1,745,832 |
| Special mention |  | — |  |  | 1,470 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,470 |
Total construction & development, net |  | $ | 248,623 |  |  | $ | 717,677 |  |  | $ | 530,305 |  |  | $ | 186,680 |  |  | $ | 21,990 |  |  | $ | 10,738 |  |  | $ | 31,289 |  |  | $ | — |  |  | $ | 1,747,302 |
Prior Year End period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Residential development, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit quality indicator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Pass/Watch |  | $ | 90,241 |  |  | $ | 86,078 |  |  | $ | 22,271 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,329 |  |  | $ | 116,490 |  |  | $ | 6,149 |  |  | $ | 322,558 |
| Special mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,341 |  |  | — |  |  | 1,341 |
Total residential development, net |  | $ | 90,241 |  |  | $ | 86,078 |  |  | $ | 22,271 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,329 |  |  | $ | 117,831 |  |  | $ | 6,149 |  |  | $ | 323,899 |
Prior Year End period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total commercial real estate |  | $ | 1,763,678 |  |  | $ | 5,176,047 |  |  | $ | 4,426,895 |  |  | $ | 1,675,601 |  |  | $ | 2,022,584 |  |  | $ | 4,072,737 |  |  | $ | 310,789 |  |  | $ | 6,149 |  |  | $ | 19,454,480 |
(in thousands) |  | Term Loans Amortized Cost Basis by Origination Year |  | Revolving Loans Amortized Cost Basis |  | Revolving to Non-Revolving Loans Amortized Cost |  |
| December 31, 2023 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  |  |  | Total
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Term, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit quality indicator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Pass/Watch |  | $ | 835,662 |  |  | $ | 1,215,539 |  |  | $ | 933,970 |  |  | $ | 391,735 |  |  | $ | 271,974 |  |  | $ | 560,595 |  |  | $ | 1,097,630 |  |  | $ | 50,874 |  |  | $ | 5,357,979 |
| Special mention |  | 23,250 |  |  | 14,875 |  |  | 29,128 |  |  | 109 |  |  | 3,340 |  |  | 16,476 |  |  | — |  |  | — |  |  | 87,178 |
| Substandard |  | 2,911 |  |  | 13,862 |  |  | 13,981 |  |  | 3,068 |  |  | 7,385 |  |  | 7,859 |  |  | 31,399 |  |  | 4,139 |  |  | 84,604 |
| Doubtful |  | — |  |  | 1,329 |  |  | 335 |  |  | 796 |  |  | 197 |  |  | 699 |  |  | — |  |  | — |  |  | 3,356 |
| Loss |  | — |  |  | 415 |  |  | — |  |  | 648 |  |  | 51 |  |  | 2,534 |  |  | — |  |  | — |  |  | 3,648 |
Total term, net |  | $ | 861,823 |  |  | $ | 1,246,020 |  |  | $ | 977,414 |  |  | $ | 396,356 |  |  | $ | 282,947 |  |  | $ | 588,163 |  |  | $ | 1,129,029 |  |  | $ | 55,013 |  |  | $ | 5,536,765 |
Prior Year End period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross charge-offs |  | $ | 3,000 |  |  | $ | 1,418 |  |  | $ | — |  |  | $ | 415 |  |  | $ | 389 |  |  | $ | 886 |  |  | $ | 44 |  |  | $ | 808 |  |  | $ | 6,960 |
Lines of credit & other, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit quality indicator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Pass/Watch |  | $ | 105,360 |  |  | $ | 105,791 |  |  | $ | 58,441 |  |  | $ | 12,266 |  |  | $ | 10,927 |  |  | $ | 16,108 |  |  | $ | 1,922,115 |  |  | $ | 5,676 |  |  | $ | 2,236,684 |
| Special mention |  | 476 |  |  | 635 |  |  | 394 |  |  | — |  |  | — |  |  | 80 |  |  | 61,927 |  |  | 403 |  |  | 63,915 |
| Substandard |  | 7,807 |  |  | 4,161 |  |  | — |  |  | — |  |  | — |  |  | 593 |  |  | 83,304 |  |  | 32,509 |  |  | 128,374 |
| Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 48 |  |  | 211 |  |  | 259 |
| Loss |  | — |  |  | 693 |  |  | 200 |  |  | — |  |  | 1 |  |  | 1 |  |  | — |  |  | — |  |  | 895 |
Total lines of credit & other, net |  | $ | 113,643 |  |  | $ | 111,280 |  |  | $ | 59,035 |  |  | $ | 12,266 |  |  | $ | 10,928 |  |  | $ | 16,782 |  |  | $ | 2,067,394 |  |  | $ | 38,799 |  |  | $ | 2,430,127 |
Prior Year End period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross charge-offs |  | $ | 30 |  |  | $ | 168 |  |  | $ | — |  |  | $ | 47 |  |  | $ | 144 |  |  | $ | 45 |  |  | $ | 1,058 |  |  | $ | 1,809 |  |  | $ | 3,301 |
Leases & equipment finance, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit quality indicator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Pass/Watch |  | $ | 682,866 |  |  | $ | 501,867 |  |  | $ | 200,499 |  |  | $ | 92,402 |  |  | $ | 61,065 |  |  | $ | 33,908 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,572,607 |
| Special mention |  | 46,806 |  |  | 15,962 |  |  | 6,182 |  |  | 1,688 |  |  | 7,224 |  |  | 77 |  |  | — |  |  | — |  |  | 77,939 |
| Substandard |  | 7,094 |  |  | 15,274 |  |  | 6,704 |  |  | 2,163 |  |  | 1,246 |  |  | 1,161 |  |  | — |  |  | — |  |  | 33,642 |
| Doubtful |  | 5,833 |  |  | 22,566 |  |  | 9,036 |  |  | 3,161 |  |  | 1,700 |  |  | 208 |  |  | — |  |  | — |  |  | 42,504 |
| Loss |  | 395 |  |  | 1,485 |  |  | 581 |  |  | 292 |  |  | 58 |  |  | 9 |  |  | — |  |  | — |  |  | 2,820 |
Total leases & equipment finance, net |  | $ | 742,994 |  |  | $ | 557,154 |  |  | $ | 223,002 |  |  | $ | 99,706 |  |  | $ | 71,293 |  |  | $ | 35,363 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,729,512 |
Prior Year End period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross charge-offs |  | $ | 2,324 |  |  | $ | 47,116 |  |  | $ | 31,569 |  |  | $ | 9,111 |  |  | $ | 6,394 |  |  | $ | 3,087 |  |  | $ | — |  |  | $ | — |  |  | $ | 99,601 |
Total commercial |  | $ | 1,718,460 |  |  | $ | 1,914,454 |  |  | $ | 1,259,451 |  |  | $ | 508,328 |  |  | $ | 365,168 |  |  | $ | 640,308 |  |  | $ | 3,196,423 |  |  | $ | 93,812 |  |  | $ | 9,696,404 |
Residential: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit quality indicator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Pass/Watch |  | $ | 221,207 |  |  | $ | 1,845,395 |  |  | $ | 2,355,420 |  |  | $ | 521,177 |  |  | $ | 443,152 |  |  | $ | 735,801 |  |  | $ | — |  |  | $ | — |  |  | $ | 6,122,152 |
| Special mention |  | 1,125 |  |  | 916 |  |  | 1,737 |  |  | 651 |  |  | 1,156 |  |  | 4,109 |  |  | — |  |  | — |  |  | 9,694 |
| Substandard |  | 1,851 |  |  | 2,617 |  |  | 2,826 |  |  | 787 |  |  | 1,759 |  |  | 8,746 |  |  | — |  |  | — |  |  | 18,586 |
| Loss |  | 159 |  |  | 2,724 |  |  | 970 |  |  | 851 |  |  | 220 |  |  | 1,810 |  |  | — |  |  | — |  |  | 6,734 |
Total mortgage, net |  | $ | 224,342 |  |  | $ | 1,851,652 |  |  | $ | 2,360,953 |  |  | $ | 523,466 |  |  | $ | 446,287 |  |  | $ | 750,466 |  |  | $ | — |  |  | $ | — |  |  | $ | 6,157,166 |
Prior Year End period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 6 |  |  | $ | — |  |  | $ | — |  |  | $ | 6 |
(in thousands) |  | Term Loans Amortized Cost Basis by Origination Year |  | Revolving Loans Amortized Cost Basis |  | Revolving to Non-Revolving Loans Amortized Cost |  |
| December 31, 2023 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  |  |  | Total
Home equity loans & lines, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit quality indicator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Pass/Watch |  | $ | 562 |  |  | $ | 1,242 |  |  | $ | 1,056 |  |  | $ | 100 |  |  | $ | 896 |  |  | $ | 35,677 |  |  | $ | 1,870,270 |  |  | $ | 17,807 |  |  | $ | 1,927,610 |
| Special mention |  | — |  |  | — |  |  | — |  |  | — |  |  | 114 |  |  | 378 |  |  | 5,052 |  |  | 1,230 |  |  | 6,774 |
| Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | 137 |  |  | 190 |  |  | 1,278 |  |  | 174 |  |  | 1,779 |
| Loss |  | 14 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 85 |  |  | 1,286 |  |  | 618 |  |  | 2,003 |
Total home equity loans & lines, net |  | $ | 576 |  |  | $ | 1,242 |  |  | $ | 1,056 |  |  | $ | 100 |  |  | $ | 1,147 |  |  | $ | 36,330 |  |  | $ | 1,877,886 |  |  | $ | 19,829 |  |  | $ | 1,938,166 |
Prior Year End period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | 12 |  |  | $ | 29 |  |  | $ | — |  |  | $ | 52 |  |  | $ | 448 |  |  | $ | — |  |  | $ | 541 |
Total residential |  | $ | 224,918 |  |  | $ | 1,852,894 |  |  | $ | 2,362,009 |  |  | $ | 523,566 |  |  | $ | 447,434 |  |  | $ | 786,796 |  |  | $ | 1,877,886 |  |  | $ | 19,829 |  |  | $ | 8,095,332 |
Consumer & other, net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit quality indicator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Pass/Watch |  | $ | 39,977 |  |  | $ | 14,919 |  |  | $ | 7,132 |  |  | $ | 4,953 |  |  | $ | 3,441 |  |  | $ | 5,022 |  |  | $ | 118,125 |  |  | $ | 543 |  |  | $ | 194,112 |
| Special mention |  | 138 |  |  | 52 |  |  | 5 |  |  | 13 |  |  | 52 |  |  | 122 |  |  | 779 |  |  | 135 |  |  | 1,296 |
| Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | 3 |  |  | 1 |  |  | 251 |  |  | 63 |  |  | 318 |
| Loss |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 7 |  |  | 2 |  |  | — |  |  | 9 |
Total consumer & other, net |  | $ | 40,115 |  |  | $ | 14,971 |  |  | $ | 7,137 |  |  | $ | 4,966 |  |  | $ | 3,496 |  |  | $ | 5,152 |  |  | $ | 119,157 |  |  | $ | 741 |  |  | $ | 195,735 |
Prior Year End period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Gross charge-offs |  | $ | 3,313 |  |  | $ | 132 |  |  | $ | 23 |  |  | $ | 20 |  |  | $ | 29 |  |  | $ | 288 |  |  | $ | 1,485 |  |  | $ | 472 |  |  | $ | 5,762 |
Grand total |  | $ | 3,747,171 |  |  | $ | 8,958,366 |  |  | $ | 8,055,492 |  |  | $ | 2,712,461 |  |  | $ | 2,838,682 |  |  | $ | 5,504,993 |  |  | $ | 5,504,255 |  |  | $ | 120,531 |  |  | $ | 37,441,951 |

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- Definition The entire disclosure for allowance for credit losses. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 310 -Publisher FASB -URI https://asc.fasb.org//310/tableOfContent + Details
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Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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- References No definition available. + Details
Name: | us-gaap_ReceivablesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration