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Allowance for Credit Losses
 3 Months Ended
Mar. 31, 2025
Receivables [Abstract]  
Allowance for Credit Losses Allowance for Credit Losses
The ACL represents management's estimate of lifetime credit losses for assets within its scope, specifically loans and leases and unfunded commitments. For more information about the Company's ACL methodology, refer to Note 1 – Summary of Significant Accounting Policies included in the Company's Annual Report on Form 10-K for the year ended December 31, 2024.

At March 31, 2025, the ACL was $438.9 million, a decrease of $1.9 million from the December 31, 2024 balance of $440.8 million. The change in the total ACL reflects credit migration trends, changes in the economic assumptions, and a recalibration of the commercial real estate, residential mortgage, and home equity line of credit CECL models in the first quarter of 2025. To calculate the ACL, management uses models to estimate PD and LGD for loans and leases, incorporating forecasted economic conditions and macroeconomic variables. The Bank considers the current financial environment and various economic scenarios, selecting the most probable scenario at each measurement date. Forecasts for each variable are updated and incorporated into the ACL calculation. Projected macroeconomic variables over the forecast period can materially impact the ACL, with projections becoming less certain over time.

The Bank opted to use Moody's Analytics' February 2025 consensus economic forecast for estimating the ACL as of March 31, 2025. In the consensus scenario, the probability that the economy will perform better than this consensus is equal to the probability that it will perform worse and include the following variables:
2026202720282029
U.S. real GDP average annualized growth2.0 %2.0 %2.0 %2.0 %
U.S. unemployment rate average4.1 %4.1 %4.2 %4.1 %
Forecasted average federal funds rate3.8 %3.6 %3.4 %3.3 %

The Bank also uses an additional scenario with varying severity to assess ACL sensitivity and inform qualitative adjustments, keeping economic variables consistent. For this analysis, the Bank selected Moody's Analytics' February 2025 S2 scenario, which predicts a 75% probability of better economic performance and a 25% probability of worse performance. The scenario includes the following variables:
2026202720282029
U.S. real GDP average annualized growth0.5 %3.0 %2.8 %2.5 %
U.S. unemployment rate average6.4 %4.3 %4.2 %4.1 %
Forecasted average federal funds rate2.2 %2.1 %2.9 %2.9 %

The forecast used to calculate the ACL as of March 31, 2025 is projecting higher GDP growth, lower unemployment rates, and average federal funds rates trending lower. This is compared to the December 31, 2024 ACL calculation which used Moody's Analytics' November 2024 consensus economic forecast to forecast the variables used in the models. Management reviewed the results derived from the economic scenarios and subsequent changes to macroeconomic variables for sensitivity analysis, considering these factors when evaluating qualitative adjustments.

Along with the quantitative factors produced by the above models, management also considers prepayment speeds and qualitative factors when determining the ACL. As of March 31, 2025, the Company evaluated qualitative factors and applied upward adjustments to the quantitative results for the ACL, which is directionally consistent with the upward adjustments made as of December 31, 2024. The majority of the qualitative overlays in this period are focused on the commercial real estate and commercial loan portfolios. This adjustment is designed to more closely align the portfolio with the S2 scenario, as previously discussed. These overlays account for potential economic uncertainties and sector-specific risks, ensuring that the portfolio remains resilient. By incorporating these targeted overlays, we aim to enhance the accuracy and robustness of our risk management strategy, providing a more comprehensive and adaptive approach to potential economic shifts. While qualitative overlays are applied, approximately 80% of the ACL is driven by modeled results, as management determined that the models adequately reflect the significant changes in credit conditions and overall portfolio risk.

Management believes that the ACL was adequate as of March 31, 2025. There is, however, no assurance that future loan losses will not exceed the levels provided for in the ACL and could possibly result in additional charges to the provision for credit losses.
The following tables summarize activity related to the ACL by portfolio segment for the periods indicated:
Three Months Ended March 31, 2025
 (in thousands)Commercial Real EstateCommercialResidentialConsumer & OtherTotal
Allowance for credit losses on loans and leases
Balance, beginning of period$154,413 $218,668 $44,700 $6,848 $424,629 
Provision (recapture) for credit losses for loans and leases14,080 24,090 (11,850)(133)26,187 
Charge-offs(119)(32,611)(303)(1,080)(34,113)
Recoveries19 4,336 98 339 4,792 
Net charge-offs(100)(28,275)(205)(741)(29,321)
Balance, end of period$168,393 $214,483 $32,645 $5,974 $421,495 
Reserve for unfunded commitments
Balance, beginning of period$5,932 $6,935 $2,084 $1,217 $16,168 
Provision (recapture) for credit losses on unfunded commitments1,833 74 (568)(123)1,216 
Balance, end of period7,765 7,009 1,516 1,094 17,384 
Total allowance for credit losses$176,158 $221,492 $34,161 $7,068 $438,879 

Three Months Ended March 31, 2024
(in thousands)Commercial Real EstateCommercialResidentialConsumer & OtherTotal
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 leases20,191 436 (3,674)523 17,476 
Charge-offs(161)(47,232)(490)(1,870)(49,753)
Recoveries358 4,732 170 490 5,750 
Net recoveries (charge-offs)197 (42,500)(320)(1,380)(44,003)
Balance, end of period$146,276 $202,757 $58,010 $7,301 $414,344 
Reserve for unfunded commitments
Balance, beginning of period$11,170 $7,841 $2,940 $1,257 $23,208 
Provision (recapture) for credit losses on unfunded commitments1,858 (1,951)(183)(64)(340)
Balance, end of period13,028 5,890 2,757 1,193 22,868 
Total allowance for credit losses$159,304 $208,647 $60,767 $8,494 $437,212 
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 ACL, and to determine the adequacy of the ACL, 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

Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Loans are placed on non-accrual status when, in management’s opinion, the borrower may be unable to meet payment obligations as they become due, as well as when required by regulatory provisions. As of March 31, 2025 and December 31, 2024, loans and leases on non-accrual status with no related ACL was $888,000 and $3.6 million, respectively, excluding collateral dependent loans and leases that have been written down to net realizable value without an associated ACL of $64.0 million and $59.4 million, respectively. The remaining balance of non-accrual loans are substantially covered by government guarantees. The Company recognized no interest income on non-accrual loans and leases during the three months ended March 31, 2025 and 2024.

The following tables present the carrying value of the loans and leases past due, by loan and lease class, as of the dates presented:
March 31, 2025
(in thousands)Greater than 30 to 59 Days Past Due60 to 89 Days Past Due
 90 Days or More and Accruing (2)
Total Past Due
Non-Accrual (2)
Current and OtherTotal Loans and Leases
Commercial real estate
Non-owner occupied term, net$56,218 $386 $— $56,604 $16,926 $6,105,731 $6,179,261 
Owner occupied term, net2,999 384 — 3,383 24,984 5,275,057 5,303,424 
Multifamily, net— — — — — 5,831,266 5,831,266 
Construction & development, net— — — — — 2,070,732 2,070,732 
Residential development, net— — — — — 252,349 252,349 
Commercial
Term, net1,828 2,091 — 3,919 28,809 5,457,461 5,490,189 
Lines of credit & other, net4,953 3,863 75 8,891 33,582 2,711,140 2,753,613 
Leases & equipment finance, net24,908 11,521 — 36,429 18,101 1,589,522 1,644,052 
Residential
Mortgage, net (1)
19,209 15,722 50,277 85,208 — 5,793,219 5,878,427 
Home equity loans & lines, net6,302 6,809 4,746 17,857 — 2,021,204 2,039,061 
Consumer & other, net630 203 278 1,111 — 172,616 173,727 
Total, net of deferred fees and costs$117,047 $40,979 $55,376 $213,402 $122,402 $37,280,297 $37,616,101 
(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 $2.6 million at March 31, 2025.
(2) Includes government guaranteed portion of $24.2 million and $42.3 million for 90 days or greater and non-accrual loans, respectively.
December 31, 2024
 (in thousands)Greater than 30 to 59 Days Past Due60 to 89 Days Past Due
90 Days or More and Accruing (2)
Total Past Due
Non-Accrual (2)
Current and OtherTotal Loans and Leases
Commercial real estate
Non-owner occupied term, net$27,954 $— $— $27,954 $14,577 $6,235,623 $6,278,154 
Owner occupied term, net1,411 169 — 1,580 24,755 5,243,959 5,270,294 
Multifamily, net— — — — — 5,804,364 5,804,364 
Construction & development, net— — — — — 1,983,213 1,983,213 
Residential development, net— — — — — 231,647 231,647 
Commercial
Term, net1,711 893 — 2,604 29,483 5,505,531 5,537,618 
Lines of credit & other, net5,345 5,523 206 11,074 6,666 2,751,903 2,769,643 
Leases & equipment finance, net15,318 17,117 4,478 36,913 20,997 1,602,925 1,660,835 
Residential
Mortgage, net (1)
— 17,844 61,228 79,072 — 5,854,280 5,933,352 
Home equity loans & lines, net5,348 5,369 6,691 17,408 — 2,014,245 2,031,653 
Consumer & other, net808 389 179 1,376 — 178,752 180,128 
Total, net of deferred fees and costs$57,895 $47,304 $72,782 $177,981 $96,478 $37,406,442 $37,680,901 
(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 $2.4 million at December 31, 2024.
(2) Includes government guaranteed portion of $32.1 million and $41.5 million for 90 days or greater and non-accrual loans, respectively.
Collateral-Dependent Loans and Leases

Loans and leases are classified as collateral-dependent when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral. The following tables summarize the amortized cost basis of the collateral-dependent loans and leases by the type of collateral securing the assets as of the periods indicated:
March 31, 2025
(in thousands)Residential Real EstateCommercial Real Estate General Business AssetsTotal
Commercial real estate
  Non-owner occupied term, net$— $14,657 $— $14,657 
  Owner occupied term, net— 20,681 — 20,681 
Commercial
   Term, net1,042 1,392 18,231 20,665 
   Line of credit & other, net— 4,366 27,605 31,971 
   Leases & equipment finance, net— — 18,101 18,101 
Residential
   Mortgage, net76,663 — — 76,663 
   Home equity loans & lines, net2,127 — — 2,127 
Total, net of deferred fees and costs$79,832 $41,096 $63,937 $184,865 
December 31, 2024
(in thousands)Residential Real EstateCommercial Real Estate General Business AssetsTotal
Commercial real estate
  Non-owner occupied term, net$— $13,116 $— $13,116 
  Owner occupied term, net— 20,198 — 20,198 
Commercial
   Term, net2,273 2,856 15,800 20,929 
   Line of credit & other, net— 1,501 3,645 5,146 
   Leases & equipment finance, net— — 20,997 20,997 
Residential
   Mortgage, net79,440 — — 79,440 
   Home equity loans & lines, net2,391 — — 2,391 
Total, net of deferred fees and costs$84,104 $37,671 $40,442 $162,217 
Loan and Lease Modifications Made to Borrowers Experiencing Financial Difficulty

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 the 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 months ended March 31, 2025 and 2024, by class and type of modification. The percentage of the amortized cost basis of loans and leases to borrowers in financial distress that were modified as compared to the amortized cost basis of each class of financing receivable is also presented below.
Three Months Ended March 31, 2025
(in thousands)Interest Rate ReductionTerm ExtensionOther -Than-Insignificant Payment DelayCombo - Term Extension and Other than Insignificant Payment DelayTotal% of total class of financing receivable
Commercial real estate
  Owner occupied term, net$— $927 $816 $— $1,743 0.03 %
Commercial
  Term, net293 — 11,966 — 12,259 0.22 %
  Lines of credit & other, net11,288 16,563 2,999 — 30,850 1.12 %
  Leases & equipment finance, net— 923 — — 923 0.06 %
Residential
  Mortgage, net139 197 6,973 916 8,225 0.14 %
Total modified loans and leases experiencing financial difficulty$11,720 $18,610 $22,754 $916 $54,000 0.14 %
Three Months Ended March 31, 2024
(in thousands)Term ExtensionOther -Than-Insignificant Payment DelayTotal% of total class of financing receivable
Commercial real estate
Non-owner occupied term, net$— $17,630 $17,630 0.27 %
Owner occupied term, net— 534 534 0.01 %
Commercial
Term, net478 — 478 0.01 %
Lines of credit & other, net6,695 144 6,839 0.27 %
Leases & equipment finance, net785 — 785 0.05 %
Residential
Mortgage, net1,012 7,624 8,636 0.14 %
Total modified loans and leases experiencing financial difficulty$8,970 $25,932 $34,902 0.09 %

The following tables present the financial effect of loan modifications made to borrowers experiencing financial difficulty during the periods presented:
Three Months Ended March 31, 2025
Interest Rate ModificationTerm ExtensionOther-Than-Insignificant Payment Delay
(dollars in thousands)Weighted-Average Interest Rate ReductionWeighted-Average Term ExtensionDeferral Amount
Commercial real estate
Owner occupied term, net— 6 months$894 
Commercial
Term, net0.50 %— $244 
Lines of credit & other, net0.26 %1.0 year$3,142 
Leases & equipment finance, net— 1.1 years— 
Residential
Mortgage, net
0.50 %7.1 years$649 
Three Months Ended March 31, 2024
Term ExtensionOther-Than-Insignificant Payment Delay
(dollars in thousands)Weighted-Average Term ExtensionDeferral Amount
Commercial real estate
Non-owner occupied term, net— $4,000 
Owner occupied term, net— $51 
Commercial
Term, net3 months— 
Lines of credit & other, net6 months$63 
Leases & equipment finance, net7 months— 
Residential
Mortgage, net
13.5 years$534 
The Company closely monitors the performance of loans and leases to borrowers experiencing financial difficulty that are modified to understand the effectiveness of its modification efforts. Loans and leases are considered to be in payment default at 90 or more days past due. The following tables present the amortized cost basis of modified loans that, within twelve months of the modification date, experienced a subsequent default during the periods presented:
Three Months Ended March 31, 2025
(in thousands)Interest Rate ReductionTerm ExtensionOther-Than-Insignificant Payment DelayCombination - Interest Rate Reduction and Term ExtensionTotal
Commercial real estate
Owner occupied term, net$— $— $564 $— $564 
Commercial
Lines of credit & other, net — 1,786 920 — 2,706 
Leases & equipment finance, net— 132 — — 132 
Residential
Mortgage, net117 451 — 223 791 
Total loans and leases experiencing financial difficulty with a subsequent default$117 $2,369 $1,484 $223 $4,193 

Three Months Ended March 31, 2024
(in thousands)Term ExtensionOther-Than-Insignificant Payment DelayTotal
Commercial
Leases & equipment finance, net$313 $— $313 
Residential
Mortgage, net— 1,005 1,005 
Total loans and leases experiencing financial difficulty with a subsequent default$313 $1,005 $1,318 

The following tables present an age analysis of loans and leases as of March 31, 2025 and 2024 that have been modified within the prior twelve months:
 March 31, 2025
 (in thousands)CurrentGreater than 30 to 59 Days Past Due60 to 89 Days Past Due90 Days or Greater Past DueNonaccrualTotal
Commercial real estate
Owner occupied term, net$2,343 $— $— $— $3,316 $5,659 
Construction & development, net2,005 — — — — 2,005 
Commercial
Term, net15,529 — 1,463 — 4,977 21,969 
Lines of credit & other, net36,080 1,930 2,901 — 4,878 45,789 
Leases & equipment finance, net1,755 400 139 — 132 2,426 
Residential
Mortgage, net21,671 1,186 1,430 3,634 — 27,921 
Total loans and leases, net of deferred fees and costs$79,383 $3,516 $5,933 $3,634 $13,303 $105,769 
 March 31, 2024
(in thousands)CurrentGreater than 30 to 59 Days Past Due60 to 89 Days Past Due90 Days or Greater Past DueNonaccrualTotal
Commercial real estate
Non-owner occupied term, net$47,789 $— $— $— $— $47,789 
Owner occupied term, net831 242 — — 534 1,607 
Commercial
Term, net4,124 — — — 622 4,746 
Lines of credit & other, net17,197 30,804 — — 1,453 49,454 
Leases & equipment finance, net1,118 125 83 82 313 1,721 
Residential
Mortgage, net46,959 1,657 — 2,124 — 50,740 
Total loans and leases, net of deferred fees and costs$118,018 $32,828 $83 $2,206 $2,922 $156,057 
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 separates its loans and lease portfolios into homogeneous and non-homogeneous categories. Homogeneous loans are rated based on past due status and may enter a higher risk rating scale if modified, requiring six months of timely payments to return to the original scale. Non-homogeneous loans use a dual risk rating approach: the PD scale measures the likelihood of default, and the LGD scale measures potential loss if a default occurs. The product of PD and LGD gives the expected loss, providing a common language of credit risk across different loans. For more information about the Company's credit quality indicators, refer to Note 6 – Allowance for Credit Losses included in the Company's Annual Report on Form 10-K for the year ended December 31, 2024.
The following tables present the amortized cost basis of the loans and leases by credit classification and vintage year by loan and lease class of financing receivable, as well as gross charge-offs for the dates presented:
(in thousands)Term Loans Amortized Cost Basis by Origination YearRevolving Loans Amortized Cost BasisRevolving to Non-Revolving Loans Amortized Cost
March 31, 202520252024202320222021PriorTotal
Commercial real estate:
Non-owner occupied term, net
Credit quality indicator:
Pass/Watch$135,680 $281,769 $538,799 $1,229,385 $1,119,994 $2,667,790 $31,547 $— $6,004,964 
Special mention— — 274 7,962 — 31,851 — — 40,087 
Substandard— 7,280 30,866 22,987 386 69,412 — — 130,931 
Doubtful— — — 1,777 — 853 — — 2,630 
Loss— — — — 649 — — — 649 
Total non-owner occupied term, net$135,680 $289,049 $569,939 $1,262,111 $1,121,029 $2,769,906 $31,547 $— $6,179,261 
Current YTD period:
Gross charge-offs$— $— $— $— $— $— $— $— $— 
Owner occupied term, net
Credit quality indicator:
Pass/Watch$154,194 $530,387 $503,052 $975,986 $839,605 $1,968,664 $27,418 $52,980 $5,052,286 
Special mention— 3,595 957 40,418 84,880 39,144 2,342 904 172,240 
Substandard815 5,954 6,883 9,199 4,050 43,567 — — 70,468 
Doubtful— 2,752 — 2,924 93 358 — — 6,127 
Loss— — — 907 — 1,396 — — 2,303 
Total owner occupied term, net$155,009 $542,688 $510,892 $1,029,434 $928,628 $2,053,129 $29,760 $53,884 $5,303,424 
Current YTD period:
Gross charge-offs$— $— $— $81 $— $38 $— $— $119 
Multifamily, net
Credit quality indicator:
Pass/Watch$36,107 $167,981 $243,164 $2,007,651 $1,658,583 $1,580,255 $97,468 $— $5,791,209 
Special mention— — — 10,688 2,857 20,774 — — 34,319 
Substandard— — — 2,720 1,607 1,411 — — 5,738 
Total multifamily, net$36,107 $167,981 $243,164 $2,021,059 $1,663,047 $1,602,440 $97,468 $— $5,831,266 
Current YTD period:
Gross charge-offs$— $— $— $— $— $— $— $— $— 
Construction & development, net
Credit quality indicator:
Pass/Watch$30,618 $545,957 $512,198 $719,911 $85,205 $105,554 $15,915 $— $2,015,358 
Special mention— 2,005 — 38,031 15,338 — — — 55,374 
Total construction & development, net$30,618 $547,962 $512,198 $757,942 $100,543 $105,554 $15,915 $— $2,070,732 
Current YTD period:
Gross charge-offs$— $— $— $— $— $— $— $— $— 
Residential development, net
Credit quality indicator:
Pass/Watch$3,088 $63,906 $2,090 $4,486 $— $62 $167,406 $11,311 $252,349 
Total residential development, net$3,088 $63,906 $2,090 $4,486 $— $62 $167,406 $11,311 $252,349 
Current YTD period:
Gross charge-offs$— $— $— $— $— $— $— $— $— 
Total commercial real estate$360,502 $1,611,586 $1,838,283 $5,075,032 $3,813,247 $6,531,091 $342,096 $65,195 $19,637,032 
(in thousands)Term Loans Amortized Cost Basis by Origination YearRevolving Loans Amortized Cost BasisRevolving to Non-Revolving Loans Amortized Cost
March 31, 202520252024202320222021PriorTotal
Commercial:
Term, net
Credit quality indicator:
Pass/Watch$103,493 $823,615 $611,398 $997,248 $741,187 $865,257 $1,131,593 $388 $5,274,179 
Special mention602 635 49,061 25,729 10,287 13,394 37,782 — 137,490 
Substandard12,742 26,276 2,998 5,306 4,366 8,661 — 1,000 61,349 
Doubtful— 71 40 4,343 3,289 5,688 — — 13,431 
Loss— — — — 927 2,813 — — 3,740 
Total term, net$116,837 $850,597 $663,497 $1,032,626 $760,056 $895,813 $1,169,375 $1,388 $5,490,189 
Current YTD period:
Gross charge-offs$— $— $486 $55 $387 $822 $— $— $1,750 
Lines of credit & other, net
Credit quality indicator:
Pass/Watch$18,781 $98,034 $39,780 $54,381 $18,522 $20,878 $2,298,147 $73,870 $2,622,393 
Special mention462 965 849 860 25 270 20,066 2,018 25,515 
Substandard4,424 29,482 1,131 1,235 — — 53,802 14,301 104,375 
Doubtful— 195 — 242 — — 476 — 913 
Loss— — 261 156 — — — — 417 
Total lines of credit & other, net$23,667 $128,676 $42,021 $56,874 $18,547 $21,148 $2,372,491 $90,189 $2,753,613 
Current YTD period:
Gross charge-offs$— $6,944 $— $— $25 $307 $1,766 $1,937 $10,979 
Leases & equipment finance, net
Credit quality indicator:
Pass/Watch$168,569 $550,278 $402,913 $255,927 $82,994 $64,224 $— $— $1,524,905 
Special mention186 13,071 38,633 11,294 2,861 515 — — 66,560 
Substandard1,027 4,396 7,164 7,589 2,400 974 — — 23,550 
Doubtful— 4,319 8,916 10,300 3,163 1,046 — — 27,744 
Loss— 237 234 650 68 104 — — 1,293 
Total leases & equipment finance, net$169,782 $572,301 $457,860 $285,760 $91,486 $66,863 $— $— $1,644,052 
Current YTD period:
Gross charge-offs$— $2,817 $6,328 $7,475 $2,434 $828 $— $— $19,882 
Total commercial$310,286 $1,551,574 $1,163,378 $1,375,260 $870,089 $983,824 $3,541,866 $91,577 $9,887,854 
Residential:
Mortgage, net
Credit quality indicator:
Pass/Watch$24,092 $271,204 $218,362 $1,750,524 $2,059,482 $1,472,184 $— $— $5,795,848 
Special mention360 3,936 2,523 5,048 4,315 18,751 — — 34,933 
Substandard— 2,882 3,094 4,057 7,330 13,379 — — 30,742 
Loss— 1,241 790 2,877 5,894 6,102 — — 16,904 
Total mortgage, net$24,452 $279,263 $224,769 $1,762,506 $2,077,021 $1,510,416 $— $— $5,878,427 
Current YTD period:
Gross charge-offs$— $— $— $— $— $— $— $— $— 
(in thousands)Term Loans Amortized Cost Basis by Origination YearRevolving Loans Amortized Cost BasisRevolving to Non-Revolving Loans Amortized Cost
March 31, 202520252024202320222021PriorTotal
Home equity loans & lines, net
Credit quality indicator:
Pass/Watch$333 $107 $3,189 $6,943 $3,033 $53,794 $1,945,055 $8,751 $2,021,205 
Special mention— 252 177 561 250 1,245 10,320 306 13,111 
Substandard— — — 249 — 266 765 221 1,501 
Loss— — 20 690 156 1,302 116 960 3,244 
Total home equity loans & lines, net$333 $359 $3,386 $8,443 $3,439 $56,607 $1,956,256 $10,238 $2,039,061 
Current YTD period:
Gross charge-offs$— $— $— $— $— $— $219 $84 $303 
Total residential$24,785 $279,622 $228,155 $1,770,949 $2,080,460 $1,567,023 $1,956,256 $10,238 $7,917,488 
Consumer & other, net:
Credit quality indicator:
Pass/Watch$11,825 $11,565 $14,608 $8,650 $3,967 $7,561 $114,017 $423 $172,616 
Special mention11 30 65 61 27 92 466 81 833 
Substandard— — 40 — — 130 67 41 278 
Total consumer & other, net$11,836 $11,595 $14,713 $8,711 $3,994 $7,783 $114,550 $545 $173,727 
Current YTD period:
Gross charge-offs$— $480 $86 $13 $— $68 $339 $94 $1,080 
Grand total$707,409 $3,454,377 $3,244,529 $8,229,952 $6,767,790 $9,089,721 $5,954,768 $167,555 $37,616,101 
(in thousands)Term Loans Amortized Cost Basis by Origination YearRevolving Loans Amortized Cost BasisRevolving to Non-Revolving Loans Amortized Cost
December 31, 202420242023202220212020PriorTotal
Commercial real estate:
Non-owner occupied term, net
Credit quality indicator:
Pass/Watch$289,721 $564,176 $1,245,868 $1,132,014 $569,014 $2,289,045 $25,716 $12,497 $6,128,051 
Special mention— — 9,346 600 463 21,191 — — 31,600 
Substandard7,293 30,926 20,843 — — 56,216 — — 115,278 
Doubtful— — 1,777 659 — 789 — — 3,225 
Total non-owner occupied term, net$297,014 $595,102 $1,277,834 $1,133,273 $569,477 $2,367,241 $25,716 $12,497 $6,278,154 
Prior Year End period:
Gross charge-offs$— $— $148 $— $— $2,485 $— $— $2,633 
Owner occupied term, net
Credit quality indicator:
Pass/Watch$525,513 $499,386 $1,015,154 $867,081 $398,200 $1,639,484 $79,180 $5,262 $5,029,260 
Special mention271 957 23,245 80,611 17,748 38,637 1,920 — 163,389 
Substandard3,892 7,501 7,918 4,147 19,677 25,436 — — 68,571 
Doubtful2,752 — 2,924 — — 1,070 — — 6,746 
Loss— — 963 — 381 984 — — 2,328 
Total owner occupied term, net$532,428 $507,844 $1,050,204 $951,839 $436,006 $1,705,611 $81,100 $5,262 $5,270,294 
Prior Year End period:
Gross charge-offs$365 $— $569 $— $22 $92 $— $— $1,048 
Multifamily, net
Credit quality indicator:
Pass/Watch$168,595 $253,543 $1,995,175 $1,634,388 $406,616 $1,224,660 $92,757 $— $5,775,734 
Special mention— — 4,545 6,748 — 11,566 — — 22,859 
Substandard— — 2,738 1,613 — 1,420 — — 5,771 
Total multifamily, net$168,595 $253,543 $2,002,458 $1,642,749 $406,616 $1,237,646 $92,757 $— $5,804,364 
Prior Year End period:
Gross charge-offs$— $— $— $— $— $— $— $— $— 
Construction & development, net
Credit quality indicator:
Pass/Watch$473,092 $503,923 $746,567 $129,065 $79,262 $18,988 $13,634 $— $1,964,531 
Special mention1,989 — 1,446 15,247 — — — — 18,682 
Total construction & development, net$475,081 $503,923 $748,013 $144,312 $79,262 $18,988 $13,634 $— $1,983,213 
Prior Year End period:
Gross charge-offs$— $— $— $— $— $— $— $— $— 
Residential development, net
Credit quality indicator:
Pass/Watch$61,656 $6,327 $5,038 $493 $465 $594 $153,631 $3,443 $231,647 
Total residential development, net$61,656 $6,327 $5,038 $493 $465 $594 $153,631 $3,443 $231,647 
Prior Year End period:
Gross charge-offs$— $— $— $— $— $— $— $— $— 
Total commercial real estate$1,534,774 $1,866,739 $5,083,547 $3,872,666 $1,491,826 $5,330,080 $366,838 $21,202 $19,567,672 
(in thousands)Term Loans Amortized Cost Basis by Origination YearRevolving Loans Amortized Cost BasisRevolving to Non-Revolving Loans Amortized Cost
December 31, 202420242023202220212020PriorTotal
Commercial:
Term, net
Credit quality indicator:
Pass/Watch$827,497 $650,426 $1,047,231 $789,076 $296,953 $618,886 $1,080,293 $20,922 $5,331,284 
Special mention1,505 48,317 25,893 7,942 — 13,527 36,978 — 134,162 
Substandard25,103 1,792 9,834 5,329 3,067 9,585 — — 54,710 
Doubtful1,460 1,160 3,771 3,533 683 2,128 — — 12,735 
Loss— 10 648 1,478 884 1,707 — — 4,727 
Total term, net$855,565 $701,705 $1,087,377 $807,358 $301,587 $645,833 $1,117,271 $20,922 $5,537,618 
Prior Year End period:
Gross charge-offs$649 $2,976 $1,783 $876 $1,324 $1,138 $4,171 $— $12,917 
Lines of credit & other, net
Credit quality indicator:
Pass/Watch$99,104 $42,240 $54,923 $18,467 $8,841 $10,202 $2,381,689 $16,177 $2,631,643 
Special mention79 1,697 675 25 100 175 30,603 4,006 37,360 
Substandard34,404 1,789 1,248 — — 101 53,491 8,607 99,640 
Doubtful162 — — — — — 204 290 656 
Loss— — 191 — — — — 153 344 
Total lines of credit & other, net$133,749 $45,726 $57,037 $18,492 $8,941 $10,478 $2,465,987 $29,233 $2,769,643 
Prior Year End period:
Gross charge-offs$— $758 $309 $241 $59 $563 $20,015 $3,512 $25,457 
Leases & equipment finance, net
Credit quality indicator:
Pass/Watch$603,191 $457,094 $295,712 $102,259 $32,338 $45,761 $— $— $1,536,355 
Special mention10,193 39,259 9,419 2,468 478 122 — — 61,939 
Substandard4,738 8,518 9,044 3,104 875 523 — — 26,802 
Doubtful3,878 10,055 13,532 4,659 1,289 338 — — 33,751 
Loss463 795 571 111 24 24 — — 1,988 
Total leases & equipment finance, net$622,463 $515,721 $328,278 $112,601 $35,004 $46,768 $— $— $1,660,835 
Prior Year End period:
Gross charge-offs$1,573 $22,851 $49,518 $18,771 $4,993 $3,138 $— $— $100,844 
Total commercial$1,611,777 $1,263,152 $1,472,692 $938,451 $345,532 $703,079 $3,583,258 $50,155 $9,968,096 
Residential:
Mortgage, net
Credit quality indicator:
Pass/Watch$236,004 $231,936 $1,776,736 $2,097,433 $472,883 $1,041,655 $— $— $5,856,647 
Special mention1,782 2,536 2,245 2,838 910 7,534 — — 17,845 
Substandard3,243 5,399 5,120 11,059 2,183 16,446 — — 43,450 
Loss1,225 2,393 4,037 4,105 779 2,871 — — 15,410 
Total mortgage, net$242,254 $242,264 $1,788,138 $2,115,435 $476,755 $1,068,506 $— $— $5,933,352 
Prior Year End period:
Gross charge-offs$— $— $491 $292 $314 $368 $— $— $1,465 
(in thousands)Term Loans Amortized Cost Basis by Origination YearRevolving Loans Amortized Cost BasisRevolving to Non-Revolving Loans Amortized Cost
December 31, 202420242023202220212020PriorTotal
Home equity loans & lines, net
Credit quality indicator:
Pass/Watch$756 $870 $2,072 $1,374 $578 $37,625 $1,940,517 $30,453 $2,014,245 
Special mention— — 136 — — 838 8,261 1,483 10,718 
Substandard— — 445 — — 270 1,230 549 2,494 
Loss— 28 — 175 8 631 1,678 1,676 4,196 
Total home equity loans & lines, net$756 $898 $2,653 $1,549 $586 $39,364 $1,951,686 $34,161 $2,031,653 
Prior Year End period:
Gross charge-offs$— $— $— $— $— $239 $252 $— $491 
Total residential$243,010 $243,162 $1,790,791 $2,116,984 $477,341 $1,107,870 $1,951,686 $34,161 $7,965,005 
Consumer & other, net:
Credit quality indicator:
Pass/Watch$21,691 $16,491 $10,122 $4,515 $3,041 $5,036 $117,045 $810 $178,751 
Special mention17 193 24 12 5 75 722 150 1,198 
Substandard11 12 10 — — 25 87 34 179 
Total consumer & other, net$21,719 $16,696 $10,156 $4,527 $3,046 $5,136 $117,854 $994 $180,128 
Prior Year End period:
Gross charge-offs$87 $2,851 $104 $35 $1 $305 $2,060 $896 $6,339 
Grand total$3,411,280 $3,389,749 $8,357,186 $6,932,628 $2,317,745 $7,146,165 $6,019,636 $106,512 $37,680,901