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LOANS AND LEASES | 12 Months Ended
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Dec. 31, 2025
Receivables [Abstract] |
LOANS AND LEASES | LOANS AND LEASES Accrued interest receivable on loans and leases, which totaled $124.1 million at December 31, 2025 and $128.4 million at December 31, 2024, is excluded from the estimate of credit losses and assessed separately in other assets in the Consolidated Balance Sheets for both periods and is not included in the following tables. Loans and Leases by Portfolio Segment Following is a summary of total loans and leases, net of unearned income: TABLE 5.1
December 31 | 2025 |  | 2024
(in millions) |  |  |
Commercial real estate | $ | 12,274 |  |  | $ | 12,705 |
Commercial and industrial | 7,718 |  |  | 7,550 |
Commercial leases | 791 |  |  | 765 |
Other | 141 |  |  | 144 |
Total commercial loans and leases | 20,924 |  |  | 21,164 |
Direct installment | 2,678 |  |  | 2,676 |
Residential mortgages | 8,882 |  |  | 7,986 |
Indirect installment | 767 |  |  | 739 |
Consumer lines of credit | 1,526 |  |  | 1,374 |
Total consumer loans | 13,853 |  |  | 12,775 |
Total loans and leases, net of unearned income | $ | 34,777 |  |  | $ | 33,939 |
The remaining accretable discount included in the amortized cost of acquired loans was $21.2 million and $31.6 million at December 31, 2025 and 2024, respectively. The loans and leases portfolio categories are comprised of the following types of loans, where in each case the LGD is dependent on the nature and value of the respective collateral: •Commercial real estate includes both owner-occupied and non-owner-occupied loans, including construction loans, secured by commercial properties where operational cash flows on owner-occupied properties, including rents paid by stand-alone business customers, or rents received by our borrowers from their tenant(s) on both a property and global basis are the primary default risk drivers; •Commercial and industrial includes loans to businesses that are not secured by real estate where the borrower's leverage and cash flows from operations are the primary default risk drivers; •Commercial leases consist of leases for new or used equipment where the borrower's cash flow from operations is the primary default risk driver; •Other is comprised primarily of credit cards and mezzanine loans where the borrower's cash flow from operations is the primary default risk driver; •Direct installment is comprised of fixed-rate, closed-end consumer loans for personal, family or household use, such as home equity loans and automobile loans where the primary default risk driver is the borrower's employment status and income; •Residential mortgages consist of conventional and jumbo mortgage loans, including construction loans, for 1-4 family properties where the primary default risk driver is the borrower's employment status and income; •Indirect installment is comprised of loans originated by approved third parties and underwritten by us, primarily automobile loans where the primary default risk driver is the borrower's employment status and income; and •Consumer lines of credit include home equity lines of credit and consumer lines of credit that are either unsecured or secured by collateral other than home equity where the primary default risk driver is the borrower's employment status and income. The loans and leases portfolio consists principally of loans to individuals and small- and medium-sized businesses within our primary market in seven states and the District of Columbia. Our primary market coverage spans several major metropolitan areas including: Pittsburgh, Pennsylvania; Baltimore, Maryland; Cleveland, Ohio; Washington, D.C.; Charlotte, Raleigh, Durham and the Piedmont Triad (Winston-Salem, Greensboro and High Point) in North Carolina; and Charleston, South Carolina. The following table shows occupancy information relating to commercial real estate loans: TABLE 5.2
December 31 | 2025 |  | 2024
Commercial real estate: |  |  |
Percent owner-occupied | 30.9 | % |  | 29.0 | %
Percent non-owner-occupied | 69.1 |  |  | 71.0 |
We have extended credit to certain directors and executive officers and their related interests. These related-party loans were made in the ordinary course of business under normal credit terms and do not involve more than a normal risk of collection. Following is a summary of the activity for these related-party loans during 2025: TABLE 5.3
(in millions) |
Balance at beginning of period | $ | 6 |
New loans | 4 |
Repayments | (2) |
Other | (1) |
Balance at end of period | $ | 7 |
Credit Quality We monitor the credit quality of our loan portfolio using several performance measures based on payment activity and borrower performance. We use an internal risk rating assigned to a commercial loan or lease at origination, summarized below. TABLE 5.4
Rating Category |  | Definition
Pass |  | in general, the condition of the borrower and the performance of the loan is satisfactory or better
Special Mention |  | in general, the condition of the borrower has deteriorated, requiring an increased level of monitoring
Substandard |  | in general, the condition of the borrower has significantly deteriorated and the performance of the loan could further deteriorate if deficiencies are not corrected
Doubtful |  | in general, the condition of the borrower has significantly deteriorated and the collection in full of both principal and interest is highly questionable or improbable
The use of these internally assigned credit quality categories within the commercial loan and lease portfolio permits our use of transition matrices to establish a basis which is then impacted by quantitative inputs from our econometric model forecasts over the R&S period. Our internal credit risk grading system is based on past experiences with similarly graded loans and leases and conforms to regulatory categories. In general, loan and lease risk ratings within each category are reviewed on an ongoing basis according to our policy for each class of loans and leases. Each quarter, we analyze the resulting ratings, as well as other external statistics and factors such as delinquency, to track the migration performance of the commercial loan and lease portfolio. Loans and leases within the Pass credit category or that migrate toward the Pass credit category generally have a lower risk of loss compared to loans and leases that migrate toward the Substandard or Doubtful credit categories. Accordingly, we apply higher risk factors to Substandard and Doubtful credit categories. The following table summarizes the designated loan rating category by loan class including term loans on an amortized cost basis by origination year and year-to-date gross charge-offs by originating year: TABLE 5.5
(in millions) | 2025 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | Prior |  | Revolving Loans Amortized Cost Basis |  | Total
December 31, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
COMMERCIAL |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial Real Estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 1,438 |  |  | $ | 1,336 |  |  | $ | 1,654 |  |  | $ | 1,587 |  |  | $ | 1,686 |  |  | $ | 3,637 |  |  | $ | 195 |  |  | $ | 11,533 |
Special Mention | 5 |  |  | 17 |  |  | 18 |  |  | 135 |  |  | 94 |  |  | 147 |  |  | 6 |  |  | 422 |
Substandard | 1 |  |  | 11 |  |  | 10 |  |  | 59 |  |  | 37 |  |  | 195 |  |  | 6 |  |  | 319 |
Total commercial real estate | 1,444 |  |  | 1,364 |  |  | 1,682 |  |  | 1,781 |  |  | 1,817 |  |  | 3,979 |  |  | 207 |  |  | 12,274 |
Commercial real estate gross charge-offs | — |  |  | — |  |  | 0.4 |  |  | 5.4 |  |  | 3.9 |  |  | 20.3 |  |  | — |  |  | 30.0 |
Commercial and Industrial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 1,799 |  |  | 1,011 |  |  | 787 |  |  | 616 |  |  | 360 |  |  | 835 |  |  | 1,835 |  |  | 7,243 |
Special Mention | 35 |  |  | 11 |  |  | 12 |  |  | 5 |  |  | 3 |  |  | 72 |  |  | 148 |  |  | 286 |
Substandard | 2 |  |  | 14 |  |  | 45 |  |  | 11 |  |  | 7 |  |  | 22 |  |  | 88 |  |  | 189 |
Total commercial and industrial | 1,836 |  |  | 1,036 |  |  | 844 |  |  | 632 |  |  | 370 |  |  | 929 |  |  | 2,071 |  |  | 7,718 |
Commercial and industrial gross charge-offs | 0.1 |  |  | 1.5 |  |  | 1.0 |  |  | 3.5 |  |  | 7.0 |  |  | 24.8 |  |  | — |  |  | 37.9 |
Commercial Leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 262 |  |  | 222 |  |  | 140 |  |  | 73 |  |  | 41 |  |  | 37 |  |  | — |  |  | 775 |
Special Mention | 1 |  |  | 3 |  |  | 1 |  |  | — |  |  | 1 |  |  | 3 |  |  | — |  |  | 9 |
Substandard | — |  |  | — |  |  | 4 |  |  | 1 |  |  | 2 |  |  | — |  |  | — |  |  | 7 |
Total commercial leases | 263 |  |  | 225 |  |  | 145 |  |  | 74 |  |  | 44 |  |  | 40 |  |  | — |  |  | 791 |
Commercial leases gross charge-offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 0.2 |  |  | — |  |  | 0.2 |
Other Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 9 |  |  | — |  |  | 58 |  |  | — |  |  | — |  |  | 4 |  |  | 70 |  |  | 141 |
Total other commercial | 9 |  |  | — |  |  | 58 |  |  | — |  |  | — |  |  | 4 |  |  | 70 |  |  | 141 |
Other commercial gross charge-offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4.7 |  |  | — |  |  | 4.7 |
Total commercial loans and leases | 3,552 |  |  | 2,625 |  |  | 2,729 |  |  | 2,487 |  |  | 2,231 |  |  | 4,952 |  |  | 2,348 |  |  | 20,924 |
(in millions) | 2025 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | Prior |  | Revolving Loans Amortized Cost Basis |  | Total
December 31, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CONSUMER |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Direct Installment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | 446 |  |  | 273 |  |  | 218 |  |  | 535 |  |  | 592 |  |  | 601 |  |  | — |  |  | 2,665 |
Past due | — |  |  | 1 |  |  | 1 |  |  | 3 |  |  | 2 |  |  | 6 |  |  | — |  |  | 13 |
Total direct installment | 446 |  |  | 274 |  |  | 219 |  |  | 538 |  |  | 594 |  |  | 607 |  |  | — |  |  | 2,678 |
Direct installment gross charge-offs | 0.1 |  |  | 0.2 |  |  | 0.2 |  |  | 0.2 |  |  | — |  |  | 0.2 |  |  | — |  |  | 0.9 |
Residential Mortgages: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | 1,741 |  |  | 1,464 |  |  | 1,245 |  |  | 1,468 |  |  | 1,317 |  |  | 1,579 |  |  | — |  |  | 8,814 |
Past due | 6 |  |  | 11 |  |  | 11 |  |  | 7 |  |  | 5 |  |  | 28 |  |  | — |  |  | 68 |
Total residential mortgages | 1,747 |  |  | 1,475 |  |  | 1,256 |  |  | 1,475 |  |  | 1,322 |  |  | 1,607 |  |  | — |  |  | 8,882 |
Residential mortgages gross charge-offs | 0.1 |  |  | 0.3 |  |  | 0.5 |  |  | 0.1 |  |  | 0.1 |  |  | 1.3 |  |  | — |  |  | 2.4 |
Indirect Installment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | 311 |  |  | 272 |  |  | 16 |  |  | 41 |  |  | 69 |  |  | 43 |  |  | — |  |  | 752 |
Past due | 1 |  |  | 3 |  |  | 2 |  |  | 4 |  |  | 4 |  |  | 1 |  |  | — |  |  | 15 |
Total indirect installment | 312 |  |  | 275 |  |  | 18 |  |  | 45 |  |  | 73 |  |  | 44 |  |  | — |  |  | 767 |
Indirect installment gross charge-offs | 0.4 |  |  | 1.0 |  |  | 0.9 |  |  | 2.5 |  |  | 2.0 |  |  | 0.8 |  |  | — |  |  | 7.6 |
Consumer Lines of Credit: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | 4 |  |  | 6 |  |  | 19 |  |  | 39 |  |  | 12 |  |  | 139 |  |  | 1,295 |  |  | 1,514 |
Past due | — |  |  | — |  |  | 1 |  |  | 1 |  |  | — |  |  | 8 |  |  | 2 |  |  | 12 |
Total consumer lines of credit | 4 |  |  | 6 |  |  | 20 |  |  | 40 |  |  | 12 |  |  | 147 |  |  | 1,297 |  |  | 1,526 |
Consumer lines of credit gross charge-offs | — |  |  | — |  |  | 0.1 |  |  | 0.1 |  |  | — |  |  | 0.8 |  |  | — |  |  | 1.0 |
Total consumer loans | 2,509 |  |  | 2,030 |  |  | 1,513 |  |  | 2,098 |  |  | 2,001 |  |  | 2,405 |  |  | 1,297 |  |  | 13,853 |
Total loans and leases | $ | 6,061 |  |  | $ | 4,655 |  |  | $ | 4,242 |  |  | $ | 4,585 |  |  | $ | 4,232 |  |  | $ | 7,357 |  |  | $ | 3,645 |  |  | $ | 34,777 |
Total charge-offs | $ | 0.7 |  |  | $ | 3.0 |  |  | $ | 3.1 |  |  | $ | 11.8 |  |  | $ | 13.0 |  |  | $ | 53.1 |  |  | $ | — |  |  | $ | 84.7 |
(in millions) | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  | Revolving Loans Amortized Cost Basis |  | Total
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
COMMERCIAL |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial Real Estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 1,405 |  |  | $ | 1,661 |  |  | $ | 2,025 |  |  | $ | 1,984 |  |  | $ | 1,200 |  |  | $ | 3,235 |  |  | $ | 197 |  |  | $ | 11,707 |
Special Mention | 1 |  |  | 10 |  |  | 177 |  |  | 52 |  |  | 107 |  |  | 181 |  |  | 37 |  |  | 565 |
Substandard | 2 |  |  | 16 |  |  | 119 |  |  | 43 |  |  | 55 |  |  | 195 |  |  | 3 |  |  | 433 |
Total commercial real estate | 1,408 |  |  | 1,687 |  |  | 2,321 |  |  | 2,079 |  |  | 1,362 |  |  | 3,611 |  |  | 237 |  |  | 12,705 |
Commercial real estate gross charge-offs | — |  |  | 0.8 |  |  | 1.0 |  |  | 15.0 |  |  | 10.5 |  |  | 11.3 |  |  | — |  |  | 38.6 |
Commercial and Industrial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 1,241 |  |  | 1,079 |  |  | 1,074 |  |  | 647 |  |  | 461 |  |  | 669 |  |  | 1,861 |  |  | 7,032 |
Special Mention | 6 |  |  | 20 |  |  | 57 |  |  | 74 |  |  | 12 |  |  | 63 |  |  | 41 |  |  | 273 |
Substandard | 4 |  |  | 50 |  |  | 11 |  |  | 33 |  |  | 8 |  |  | 59 |  |  | 80 |  |  | 245 |
Total commercial and industrial | 1,251 |  |  | 1,149 |  |  | 1,142 |  |  | 754 |  |  | 481 |  |  | 791 |  |  | 1,982 |  |  | 7,550 |
Commercial and industrial gross charge-offs | 0.1 |  |  | 3.9 |  |  | 1.5 |  |  | 1.8 |  |  | 6.0 |  |  | 7.6 |  |  | — |  |  | 20.9 |
Commercial Leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 331 |  |  | 184 |  |  | 106 |  |  | 60 |  |  | 26 |  |  | 39 |  |  | — |  |  | 746 |
Special Mention | — |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | 2 |
Substandard | — |  |  | 6 |  |  | 2 |  |  | 4 |  |  | 5 |  |  | — |  |  | — |  |  | 17 |
Total commercial leases | 331 |  |  | 191 |  |  | 108 |  |  | 64 |  |  | 31 |  |  | 40 |  |  | — |  |  | 765 |
Commercial leases gross charge-offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 0.3 |  |  | — |  |  | 0.3 |
Other Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 12 |  |  | 62 |  |  | — |  |  | — |  |  | — |  |  | 5 |  |  | 65 |  |  | 144 |
Total other commercial | 12 |  |  | 62 |  |  | — |  |  | — |  |  | — |  |  | 5 |  |  | 65 |  |  | 144 |
Other commercial gross charge-offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4.2 |  |  | — |  |  | 4.2 |
Total commercial loans and leases | 3,002 |  |  | 3,089 |  |  | 3,571 |  |  | 2,897 |  |  | 1,874 |  |  | 4,447 |  |  | 2,284 |  |  | 21,164 |
(in millions) | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  | Revolving Loans Amortized Cost Basis |  | Total
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
CONSUMER |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Direct Installment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | 346 |  |  | 277 |  |  | 621 |  |  | 683 |  |  | 341 |  |  | 396 |  |  | — |  |  | 2,664 |
Past due | — |  |  | 1 |  |  | 3 |  |  | 1 |  |  | 1 |  |  | 6 |  |  | — |  |  | 12 |
Total direct installment | 346 |  |  | 278 |  |  | 624 |  |  | 684 |  |  | 342 |  |  | 402 |  |  | — |  |  | 2,676 |
Direct installment gross charge-offs | — |  |  | 0.2 |  |  | 0.3 |  |  | 0.2 |  |  | — |  |  | 1.1 |  |  | — |  |  | 1.8 |
Residential Mortgages: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | 1,663 |  |  | 1,478 |  |  | 1,598 |  |  | 1,417 |  |  | 728 |  |  | 1,048 |  |  | — |  |  | 7,932 |
Past due | 2 |  |  | 15 |  |  | 6 |  |  | 5 |  |  | 1 |  |  | 25 |  |  | — |  |  | 54 |
Total residential mortgages | 1,665 |  |  | 1,493 |  |  | 1,604 |  |  | 1,422 |  |  | 729 |  |  | 1,073 |  |  | — |  |  | 7,986 |
Residential mortgages gross charge-offs | 0.1 |  |  | 0.6 |  |  | 0.3 |  |  | 0.2 |  |  | — |  |  | 1.4 |  |  | — |  |  | 2.6 |
Indirect Installment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | 396 |  |  | 24 |  |  | 67 |  |  | 142 |  |  | 49 |  |  | 42 |  |  | — |  |  | 720 |
Past due | 1 |  |  | 3 |  |  | 6 |  |  | 6 |  |  | 2 |  |  | 1 |  |  | — |  |  | 19 |
Total indirect installment | 397 |  |  | 27 |  |  | 73 |  |  | 148 |  |  | 51 |  |  | 43 |  |  | — |  |  | 739 |
Indirect installment gross charge-offs | 0.2 |  |  | 1.8 |  |  | 4.5 |  |  | 3.2 |  |  | 0.5 |  |  | 1.6 |  |  | — |  |  | 11.8 |
Consumer Lines of Credit: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | 8 |  |  | 29 |  |  | 51 |  |  | 13 |  |  | 1 |  |  | 117 |  |  | 1,141 |  |  | 1,360 |
Past due | — |  |  | — |  |  | 1 |  |  | 1 |  |  | — |  |  | 10 |  |  | 2 |  |  | 14 |
Total consumer lines of credit | 8 |  |  | 29 |  |  | 52 |  |  | 14 |  |  | 1 |  |  | 127 |  |  | 1,143 |  |  | 1,374 |
Consumer lines of credit gross charge-offs | — |  |  | 0.1 |  |  | 0.1 |  |  | 0.1 |  |  | — |  |  | 1.3 |  |  | — |  |  | 1.6 |
Total consumer loans | 2,416 |  |  | 1,827 |  |  | 2,353 |  |  | 2,268 |  |  | 1,123 |  |  | 1,645 |  |  | 1,143 |  |  | 12,775 |
Total loans and leases | $ | 5,418 |  |  | $ | 4,916 |  |  | $ | 5,924 |  |  | $ | 5,165 |  |  | $ | 2,997 |  |  | $ | 6,092 |  |  | $ | 3,427 |  |  | $ | 33,939 |
Total charge-offs | $ | 0.4 |  |  | $ | 7.4 |  |  | $ | 7.7 |  |  | $ | 20.5 |  |  | $ | 17.0 |  |  | $ | 28.8 |  |  | $ | — |  |  | $ | 81.8 |
We use delinquency transition matrices within the consumer and other loan classes to establish the basis for the R&S forecast portion of the credit risk. Each month, management analyzes payment and volume activity, Fair Isaac Corporation (FICO) scores and Debt-to-Income (DTI) scores and other external factors such as unemployment, to determine how consumer loans are performing. Non-Performing and Past Due The following table provides an analysis of the aging of loans by class. TABLE 5.6
(in millions) | 30-89 Days Past Due |  | ≥ 90 Days Past Due and Still Accruing |  | Non- Accrual |  | Total Past Due |  | Current |  | Total Loans and Leases |  | Non-accrual with No ACL
December 31, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate | $ | 10 |  |  | $ | — |  |  | $ | 45 |  |  | $ | 55 |  |  | $ | 12,219 |  |  | $ | 12,274 |  |  | $ | 18 |
Commercial and industrial | 10 |  |  | — |  |  | 35 |  |  | 45 |  |  | 7,673 |  |  | 7,718 |  |  | 15 |
Commercial leases | — |  |  | — |  |  | 3 |  |  | 3 |  |  | 788 |  |  | 791 |  |  | — |
Other | 34 |  |  | 1 |  |  | 2 |  |  | 37 |  |  | 104 |  |  | 141 |  |  | — |
Total commercial loans and leases | 54 |  |  | 1 |  |  | 85 |  |  | 140 |  |  | 20,784 |  |  | 20,924 |  |  | 33 |
Direct installment | 8 |  |  | 1 |  |  | 4 |  |  | 13 |  |  | 2,665 |  |  | 2,678 |  |  | — |
Residential mortgages | 47 |  |  | 9 |  |  | 12 |  |  | 68 |  |  | 8,814 |  |  | 8,882 |  |  | 1 |
Indirect installment | 14 |  |  | — |  |  | 1 |  |  | 15 |  |  | 752 |  |  | 767 |  |  | — |
Consumer lines of credit | 7 |  |  | 2 |  |  | 3 |  |  | 12 |  |  | 1,514 |  |  | 1,526 |  |  | — |
Total consumer loans | 76 |  |  | 12 |  |  | 20 |  |  | 108 |  |  | 13,745 |  |  | 13,853 |  |  | 1 |
Total loans and leases | $ | 130 |  |  | $ | 13 |  |  | $ | 105 |  |  | $ | 248 |  |  | $ | 34,529 |  |  | $ | 34,777 |  |  | $ | 34 |
(in millions) | 30-89 Days Past Due |  | > 90 Days Past Due and Still Accruing |  | Non- Accrual |  | Total Past Due |  | Current |  | Total Loans and Leases |  | Non-accrual with No ACL
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate | $ | 26 |  |  | $ | — |  |  | $ | 88 |  |  | $ | 114 |  |  | $ | 12,591 |  |  | $ | 12,705 |  |  | $ | 24 |
Commercial and industrial | 10 |  |  | — |  |  | 52 |  |  | 62 |  |  | 7,488 |  |  | 7,550 |  |  | 19 |
Commercial leases | 1 |  |  | — |  |  | 2 |  |  | 3 |  |  | 762 |  |  | 765 |  |  | — |
Other | 1 |  |  | — |  |  | 2 |  |  | 3 |  |  | 141 |  |  | 144 |  |  | — |
Total commercial loans and leases | 38 |  |  | — |  |  | 144 |  |  | 182 |  |  | 20,982 |  |  | 21,164 |  |  | 43 |
Direct installment | 8 |  |  | 2 |  |  | 2 |  |  | 12 |  |  | 2,664 |  |  | 2,676 |  |  | — |
Residential mortgages | 38 |  |  | 9 |  |  | 7 |  |  | 54 |  |  | 7,932 |  |  | 7,986 |  |  | — |
Indirect installment | 16 |  |  | 1 |  |  | 2 |  |  | 19 |  |  | 720 |  |  | 739 |  |  | — |
Consumer lines of credit | 8 |  |  | 2 |  |  | 4 |  |  | 14 |  |  | 1,360 |  |  | 1,374 |  |  | — |
Total consumer loans | 70 |  |  | 14 |  |  | 15 |  |  | 99 |  |  | 12,676 |  |  | 12,775 |  |  | — |
Total loans and leases | $ | 108 |  |  | $ | 14 |  |  | $ | 159 |  |  | $ | 281 |  |  | $ | 33,658 |  |  | $ | 33,939 |  |  | $ | 43 |
Following is a summary of non-performing assets: TABLE 5.7
December 31 | 2025 |  | 2024
(dollars in millions) |  |  |
Non-accrual loans | $ | 105 |  |  | $ | 159 |
Total non-performing loans and leases | 105 |  |  | 159 |
Other real estate owned | 3 |  |  | 3 |
Total non-performing assets | $ | 108 |  |  | $ | 162 |
Asset quality ratios: |  |  |
Non-performing loans and leases / total loans and leases | 0.30 | % |  | 0.47 | %
Non-performing assets plus 90 days or more past due / total loans and leases plus OREO | 0.35 |  |  | 0.52 |
The carrying value of residential-secured consumer OREO held as a result of obtaining physical possession upon completion of a foreclosure or through completion of a deed in lieu of foreclosure amounted to $1.1 million at December 31, 2025 and $1.2 million at December 31, 2024. The recorded investment of residential-secured consumer OREO for which formal foreclosure proceedings are in process at December 31, 2025 and 2024 totaled $16.9 million and $10.6 million, respectively. Approximately $172.8 million of commercial loans are collateral dependent at December 31, 2025. Repayment is expected to be substantially made through the operation or sale of the collateral on the loan. These loans are primarily secured by business assets or commercial real estate. Loan Modifications During the period, there are loans whose contractual terms have been modified in a manner that grants a concession to a borrower experiencing financial difficulties. These modifications typically result from loss mitigation activities and could include a term extension, interest rate reduction, principal forgiveness and other actions intended to minimize the economic loss and to avoid foreclosure or repossession of collateral. Accrued interest receivable on loan modifications totaled $0.1 million and $0.2 million at December 31, 2025 and December 31, 2024, respectively, and is excluded from the amortized cost of loan modifications in the tables that follow. The following table shows the amortized cost basis at the end of the reporting period of the loans modified during the period to borrowers experiencing financial difficulty, disaggregated by class of financing receivable, type of concession granted and the financial effect of the modifications made to borrowers experiencing financial difficulty: TABLE 5.8
(dollars in millions) | Amortized Cost Basis |  | % of Total Class of Financing Receivable |  | Financial Effect
Twelve Months Ended December 31, 2025 |  |  |
Term Extension |  |  |  |  |
Commercial real estate | $ | 2.3 |  |  | 0.02 | % |  | The modified loans had an average increase in term of 6 months, extending the maturity date.
Commercial and industrial | 1.2 |  |  | 0.02 |  |  | The modified loans had an average increase in term of 21 months, extending the maturity date.
Direct installment | 2.7 |  |  | 0.10 |  |  | The modified loans had an average increase in term of 77 months, extending the maturity date.
Residential mortgages | 6.0 |  |  | 0.07 |  |  | The modified loans had an average increase in term of 37 months, extending the maturity date.
Consumer lines of credit | 0.7 |  |  | 0.05 |  |  | The modified loans had an average increase in term of 169 months, extending the maturity date.
Total | 12.9 |  |  |  |  |
Term Extension and Rate Reduction |  |  |  |  |
Residential mortgages | 3.2 |  |  | 0.04 |  |  | The term was extended, with weighted average yield reductions of 32 basis points to 475 basis points with extensions up to 28 years.
Total | 3.2 |  |  |  |  |
Other |  |  |  |  |
Commercial real estate | 1.5 |  |  | 0.01 |  |  | The majority resulted in a 3 to 6 month deferral on principal payments.
Commercial and industrial | 0.7 |  |  | 0.01 |  |  | The majority resulted in a 3-month deferral on principal payments
Total | 2.2 |  |  |  |  |
Total Outstanding Modified | $ | 18.3 |  |  |  |  |
(dollars in millions) | Amortized Cost Basis |  | % of Total Class of Financing Receivable |  | Financial Effect
Twelve Months Ended December 31, 2024 |  |  |
Term Extension |  |  |  |  |
Commercial real estate | $ | 0.3 |  |  | — | % |  | The modified loans had an average increase in term of 7 months, extending the maturity date.
Commercial and industrial | 0.1 |  |  | — |  |  | Modifications were made with no material financial effect.
Direct installment | 1.5 |  |  | 0.06 |  |  | The modified loans had an average increase in term of 65 months, extending the maturity date.
Residential mortgages | 7.3 |  |  | 0.09 |  |  | The modified loans had an average increase in term of 70 months, extending the maturity date.
Consumer lines of credit | 1.3 |  |  | 0.09 |  |  | The modified loans had an average increase in term of 221 months, extending the maturity date.
Total | 10.5 |  |  |  |  |
Rate Reduction |  |  |  |  |
Residential mortgages | 0.1 |  |  | — |  |  | Modifications were made with no material financial effect.
Total | 0.1 |  |  |  |  |
Term Extension and Rate Reduction |  |  |  |  |
Commercial real estate | 17.6 |  |  | 0.14 |  |  | The terms were extended, with a weighted average yield reduction of 190 basis points.
Commercial and industrial | 15.5 |  |  | 0.21 |  |  | The modified loans had an average increase in term of 6 months, at a reduced rate.
Residential mortgages | 1.3 |  |  | 0.02 |  |  | Modifications were made with no material financial effect.
Consumer lines of credit | 0.2 |  |  | 0.01 |  |  | Modifications were made with no material financial effect.
Total | 34.6 |  |  |  |  |
Balloon Payment |  |  |  |  |
Commercial real estate | 0.7 |  |  | 0.01 |  |  | Modifications were made with no material financial effect.
Consumer lines of credit | 0.2 |  |  | 0.03 |  |  | Modifications were made with no material financial effect.
Total | 0.9 |  |  |  |  |
Other |  |  |  |  |
Commercial real estate | 2.0 |  |  | 0.02 |  |  | 3 to 12 month payment deferrals with no income being earned on these loans.
Commercial and industrial | 5.2 |  |  | 0.07 |  |  | Temporarily lowered monthly payments, 3 to 9 month payment deferral or temporary interest only payments while borrowers were in work-out.
Total | 7.2 |  |  |  |  |
Total Outstanding Modified | $ | 53.3 |  |  |  |  |
(dollars in millions) | Amortized Cost Basis |  | % of Total Class of Financing Receivable |  | Financial Effect
Twelve Months Ended December 31, 2023 |  |  |
Term Extension |  |  |  |  |
Commercial real estate | $ | 21.5 |  |  | 0.17 | % |  | The modified loans had an average increase in term of 15 months, extending the maturity date.
Commercial and industrial | 20.6 |  |  | 0.28 |  |  | The modified loans had an average increase in term of 34 months, extending the maturity date.
Direct installment | 1.7 |  |  | 0.06 |  |  | The modified loans had an average increase in term of 90 months, extending the maturity date.
Residential mortgages | 3.8 |  |  | 0.06 |  |  | The modified loans had an average increase in term of 91 months, extending the maturity date.
Consumer lines of credit | 0.5 |  |  | 0.04 |  |  | The repayment on the loans modified was extended, lowering the monthly repayment.
Total | 48.1 |  |  |  |  |
Term Extension and Rate Reduction |  |  |  |  |
Commercial and industrial | 0.1 |  |  | — |  |  | The term was extended, with a weighted average yield reduction of 462 basis points.
Direct installment | 0.4 |  |  | 0.01 |  |  | The modified loans had an average increase in term of 319 months, extending the maturity date.
Residential mortgages | 0.8 |  |  | 0.01 |  |  | The term was extended, with a weighted average yield reduction of 267 basis points.
Consumer lines of credit | 0.7 |  |  | 0.05 |  |  | The term was extended, with a weighted average yield reduction of 266 basis points.
Total | 2.0 |  |  |  |  |
Other |  |  |  |  |
Commercial real estate | 8.3 |  |  | 0.07 |  |  | The modified loans had an average increase in term of 6 months, extending the maturity date.
Direct installment | 0.1 |  |  | — |  |  | Multiple modifications were made with no material financial effect.
Residential mortgages | 0.1 |  |  | — |  |  | Multiple modifications were made with no material financial effect.
Consumer lines of credit | 0.6 |  |  | 0.05 |  |  | Primarily changed to a payment schedule with a fixed rate reduction of 508 basis points.
Total | 9.1 |  |  |  |  |
Total Outstanding Modified | $ | 59.2 |  |  |  |  |
Some loan modifications may not ultimately result in the full collection of principal and interest, as modified, and may result in potential incremental losses which are factored into the ACL. There were no additional funds committed to borrowers whose loans were modified during 2025 and 2024. Commercial loans over $1.0 million whose terms have been modified may be placed on non-accrual, individually analyzed and measured based on the fair value of the underlying collateral. Our ACL includes specific reserves for commercial loans modified. There were no specific reserves for commercial loans modified at December 31, 2025 compared to $8.1 million at December 31, 2024, and pooled reserves for individual loans of $0.6 million and $1.8 million for those same periods, respectively, based on loan segment LGD. Upon default, the amount of the recorded investment of the modified loan balance in excess of the fair value of the collateral, less estimated selling costs, is generally considered a confirmed loss and is charged-off against the ACL. All other classes of loans whose terms have been modified are pooled and measured based on the loan segment LGD. Our ACL included pooled reserves for these classes of loans of $1.3 million and $3.4 million as of December 31, 2025 and 2024, respectively. Upon default of an individual loan, our charge-off policy is followed for that class of loan. Following is a summary of loans modified in a manner that grants a concession to a borrower experiencing financial difficulties, by class, for which there was a payment default, excluding loans that have been paid off and/or sold. Default occurs when a loan is 90 days or more past due or in non-accrual and is within 12 months of restructuring. TABLE 5.9
Amortized cost basis of modified financing receivables that subsequently defaulted: |  |  |  |  |  |  |  |  |  |  |  |
(in millions) | Term Extension |  |  |  |  |  | Term Extension and Rate Reduction |  |  |  |  |  |  |  | Balloon Payment |  | Other |  | Total Outstanding Modified
Twelve Months Ended December 31, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate | $ | 1.1 |  |  |  |  |  |  | $ | — |  |  |  |  |  |  |  |  | $ | — |  |  | $ | 2.0 |  |  | $ | 3.1 |
Commercial and industrial | 0.9 |  |  |  |  |  |  | — |  |  |  |  |  |  |  |  | — |  |  | 1.3 |  |  | 2.2 |
Total commercial loans and leases | 2.0 |  |  |  |  |  |  | — |  |  |  |  |  |  |  |  | — |  |  | 3.3 |  |  | 5.3 |
Direct installment | 0.3 |  |  |  |  |  |  | — |  |  |  |  |  |  |  |  | — |  |  | — |  |  | 0.3 |
Residential mortgages | 1.9 |  |  |  |  |  |  | 0.6 |  |  |  |  |  |  |  |  | — |  |  | — |  |  | 2.5 |
Total consumer loans | 2.2 |  |  |  |  |  |  | 0.6 |  |  |  |  |  |  |  |  | — |  |  | — |  |  | 2.8 |
Total | $ | 4.2 |  |  |  |  |  |  | $ | 0.6 |  |  |  |  |  |  |  |  | $ | — |  |  | $ | 3.3 |  |  | $ | 8.1 |
(in millions) | Term Extension |  |  |  |  |  | Term Extension and Rate Reduction |  |  |  |  |  |  |  | Balloon Payment |  | Other |  | Total Outstanding Modified
Twelve Months Ended December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate | $ | 0.3 |  |  |  |  |  |  | $ | — |  |  |  |  |  |  |  |  | $ | 0.7 |  |  | $ | 5.9 |  |  | $ | 6.9 |
Commercial and industrial | 18.4 |  |  |  |  |  |  | 15.5 |  |  |  |  |  |  |  |  | — |  |  | 5.5 |  |  | 39.4 |
Total commercial loans and leases | 18.7 |  |  |  |  |  |  | 15.5 |  |  |  |  |  |  |  |  | 0.7 |  |  | 11.4 |  |  | 46.3 |
Direct installment | 0.7 |  |  |  |  |  |  | — |  |  |  |  |  |  |  |  | — |  |  | — |  |  | 0.7 |
Residential mortgages | 4.7 |  |  |  |  |  |  | 0.4 |  |  |  |  |  |  |  |  | — |  |  | — |  |  | 5.1 |
Total consumer loans | 5.4 |  |  |  |  |  |  | 0.4 |  |  |  |  |  |  |  |  | — |  |  | — |  |  | 5.8 |
Total | $ | 24.1 |  |  |  |  |  |  | $ | 15.9 |  |  |  |  |  |  |  |  | $ | 0.7 |  |  | $ | 11.4 |  |  | $ | 52.1 |
(in millions) | Term Extension |  |  |  |  |  | Term Extension and Rate Reduction |  |  |  |  |  |  |  | Balloon Payment |  | Other |  | Total Outstanding Modified
Twelve Months Ended December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate | $ | 0.4 |  |  |  |  |  |  | $ | — |  |  |  |  |  |  |  |  | $ | — |  |  | $ | 5.2 |  |  | $ | 5.6 |
Commercial and industrial | 21.5 |  |  |  |  |  |  | 0.3 |  |  |  |  |  |  |  |  | — |  |  | — |  |  | 21.8 |
Total commercial loans and leases | 21.9 |  |  |  |  |  |  | 0.3 |  |  |  |  |  |  |  |  | — |  |  | 5.2 |  |  | 27.4 |
Direct installment | 0.1 |  |  |  |  |  |  | — |  |  |  |  |  |  |  |  | — |  |  | — |  |  | 0.1 |
Residential mortgages | 0.3 |  |  |  |  |  |  | 0.3 |  |  |  |  |  |  |  |  | — |  |  | — |  |  | 0.6 |
Consumer lines of credit | 0.1 |  |  |  |  |  |  | — |  |  |  |  |  |  |  |  | — |  |  | — |  |  | 0.1 |
Total consumer loans | 0.5 |  |  |  |  |  |  | 0.3 |  |  |  |  |  |  |  |  | — |  |  | — |  |  | 0.8 |
Total | $ | 22.4 |  |  |  |  |  |  | $ | 0.6 |  |  |  |  |  |  |  |  | $ | — |  |  | $ | 5.2 |  |  | $ | 28.2 |
We closely monitor the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of our modification efforts. The following table depicts the performance of loans that have been modified in the last 12 months: TABLE 5.10
Payment status - amortization cost basis:
(in millions) | Current |  | 30-89 Days Past Due |  | 90+ Days Past Due
December 31, 2025 |  |  |  |  |
Commercial real estate | $ | 3.6 |  |  | $ | — |  |  | $ | 0.2 |
Commercial and industrial | 1.4 |  |  | 0.5 |  |  | — |
Total commercial loans and leases | 5.0 |  |  | 0.5 |  |  | 0.2 |
Direct installment | 1.9 |  |  | 0.6 |  |  | 0.2 |
Residential mortgages | 5.2 |  |  | 3.0 |  |  | 1.0 |
Consumer lines of credit | 0.6 |  |  | 0.1 |  |  | — |
Total consumer loans | 7.7 |  |  | 3.7 |  |  | 1.2 |
Total | $ | 12.7 |  |  | $ | 4.2 |  |  | $ | 1.4 |
(in millions) | Current |  | 30-89 Days Past Due |  | 90+ Days Past Due
December 31, 2024 |  |  |  |  |
Commercial real estate | $ | 20.5 |  |  | $ | — |  |  | $ | — |
Commercial and industrial | 20.8 |  |  | — |  |  | — |
Total commercial loans and leases | 41.3 |  |  | — |  |  | — |
Direct installment | 1.2 |  |  | 0.3 |  |  | — |
Residential mortgages | 5.5 |  |  | 1.8 |  |  | 1.5 |
Consumer lines of credit | 1.4 |  |  | 0.3 |  |  | — |
Total consumer loans | 8.1 |  |  | 2.4 |  |  | 1.5 |
Total | $ | 49.4 |  |  | $ | 2.4 |  |  | $ | 1.5 |

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