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ALLOWANCE FOR CREDIT LOSSES FOR LOANS AND FINANCE LEASES (Tables) | 9 Months Ended
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Sep. 30, 2021
Loans And Leases Receivable Disclosure [Abstract] |
Allowance For Credit Losses On Financing Receivables [Table Text Block] |
The following table presents the activity in the ACL for loans and finance leases by portfolio segment for the indicated periods:
| Residential Mortgage Loans |  | Construction Loans |  | Commercial Mortgage |  | Commercial & Industrial Loans |  | Consumer Loans |  | Total
Quarter Ended September 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
ACL: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 112,882 |  | $ | 4,757 |  | $ | 72,452 |  | $ | 37,470 |  | $ | 97,397 |  | $ | 324,958
Provision for credit losses - (benefit) expense |  | (6,206) |  |  | 527 |  |  | (4,660) |  |  | (4,449) |  |  | 6,054 |  |  | (8,734)
Charge-offs |  | (25,418) |  |  | (7) |  |  | (429) |  |  | (167) |  |  | (8,345) |  |  | (34,366)
Recoveries |  | 1,968 |  |  | 42 |  |  | 43 |  |  | 494 |  |  | 3,955 |  |  | 6,502
Ending balance | $ | 83,226 |  | $ | 5,319 |  | $ | 67,406 |  | $ | 33,348 |  | $ | 99,061 |  | $ | 288,360
| Residential Mortgage Loans |  | Construction Loans |  | Commercial Mortgage |  | Commercial & Industrial Loans |  | Consumer Loans |  | Total
Nine-Month Period Ended September 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
ACL: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 120,311 |  | $ | 5,380 |  | $ | 109,342 |  | $ | 37,944 |  | $ | 112,910 |  | $ | 385,887
Provision for credit losses - (benefit) expense |  | (9,556) |  |  | (125) |  |  | (40,779) |  |  | (10,187) |  |  | 11,168 |  |  | (49,479)
Charge-offs |  | (31,170) |  |  | (52) |  |  | (1,304) |  |  | (1,036) |  |  | (34,904) |  |  | (68,466)
Recoveries |  | 3,641 |  |  | 116 |  |  | 147 |  |  | 6,627 |  |  | 9,887 |  |  | 20,418
Ending balance | $ | 83,226 |  | $ | 5,319 |  | $ | 67,406 |  | $ | 33,348 |  | $ | 99,061 |  | $ | 288,360
| Residential Mortgage Loans |  | Construction Loans |  | Commercial Mortgage Loans |  | Commercial & Industrial Loans |  | Consumer Loans |  | Total
Quarter Ended September 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
ACL: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 111,450 |  | $ | 7,800 |  | $ | 49,435 |  | $ | 38,310 |  | $ | 112,302 |  | $ | 319,297
Allowance established for acquired PCD loans |  | 12,739 |  |  | - |  |  | 9,723 |  |  | 1,830 |  |  | 4,452 |  |  | 28,744
Provision for credit losses expense |  | 9,875 |  |  | 2,405 |  |  | 19,672 |  |  | 2,839 |  |  | 13,287 |  |  | 48,078
Charge-offs |  | (2,611) |  |  | (1) |  |  | (3,157) |  |  | (150) |  |  | (8,436) |  |  | (14,355)
Recoveries |  | 328 |  |  | 37 |  |  | 53 |  |  | 80 |  |  | 2,456 |  |  | 2,954
Ending balance | $ | 131,781 |  | $ | 10,241 |  | $ | 75,726 |  | $ | 42,909 |  | $ | 124,061 |  | $ | 384,718
| Residential Mortgage Loans |  | Construction Loans |  | Commercial Mortgage Loans |  | Commercial & Industrial Loans |  | Consumer Loans |  | Total
Nine-Month Period Ended September 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
ACL: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance, prior to the adoption of CECL | $ | 44,806 |  | $ | 2,370 |  | $ | 39,194 |  | $ | 15,198 |  | $ | 53,571 |  | $ | 155,139
Impact of adopting CECL |  | 49,837 |  |  | 797 |  |  | (19,306) |  |  | 14,731 |  |  | 35,106 |  |  | 81,165
Allowance established for acquired PCD loans |  | 12,739 |  |  | - |  |  | 9,723 |  |  | 1,830 |  |  | 4,452 |  |  | 28,744
Provision for credit losses expense |  | 32,255 |  |  | 7,068 |  |  | 49,278 |  |  | 11,225 |  |  | 58,705 |  |  | 158,531
Charge-offs |  | (8,968) |  |  | (75) |  |  | (3,303) |  |  | (323) |  |  | (33,930) |  |  | (46,599)
Recoveries |  | 1,112 |  |  | 81 |  |  | 140 |  |  | 248 |  |  | 6,157 |  |  | 7,738
Ending balance | $ | 131,781 |  | $ | 10,241 |  | $ | 75,726 |  | $ | 42,909 |  | $ | 124,061 |  | $ | 384,718
The tables below present the ACL related to loans and finance leases and the carrying value of loans by portfolio segment as of September 30, 2021 and December 31, 2020:
|  |  |  | Residential Mortgage Loans |  | Construction Loans |  | Commercial Mortgage Loans |  | Commercial and Industrial Loans (1) |  | Consumer Loans |  |  | Total |
As of September 30, 2021 |  |  |  |  |  |  |
(Dollars in thousands) |  |  |  |  |  |  |
Total loans held for investment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Amortized cost of loans | $ | 3,095,015 |  | $ | 170,208 |  | $ | 2,136,502 |  | $ | 2,932,712 |  | $ | 2,806,145 |  |  | 11,140,582 |
| Allowance for credit losses |  | 83,226 |  |  | 5,319 |  |  | 67,406 |  |  | 33,348 |  |  | 99,061 |  |  | 288,360 |
| Allowance for credit losses to |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | amortized cost |  | 2.69 | % |  | 3.13 | % |  | 3.15 | % |  | 1.14 | % |  | 3.53 | % |  | 2.59 | %
As of December 31, 2020 | Residential Mortgage Loans |  | Construction Loans |  | Commercial Mortgage Loans |  | Commercial and Industrial Loans (1) |  | Consumer Loans |  | Total |
(Dollars in thousands) |  |  |  |  |  |
Total loans held for investment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Amortized cost of loans | $ | 3,521,954 |  | $ | 212,500 |  | $ | 2,230,602 |  | $ | 3,202,590 |  | $ | 2,609,643 |  | $ | 11,777,289 |
| Allowance for credit losses |  | 120,311 |  |  | 5,380 |  |  | 109,342 |  |  | 37,944 |  |  | 112,910 |  |  | 385,887 |
| Allowance for credit losses to |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | amortized cost |  | 3.42 | % |  | 2.53 | % |  | 4.90 | % |  | 1.18 | % |  | 4.33 | % |  | 3.28 | %
(1) | As of September 30, 2021 and December 31, 2020, includes $218.4 million and $406.0 million of SBA PPP loans, respectively, which require no ACL as these loans are 100% guaranteed by the SBA.
| Quarter Ended |  | Nine-Month Period Ended
| September 30, |  | September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
(In thousands) |  |  |  |  |  |  |  |  |  |  |
Beginning Balance | $ | 2,730 |  | $ | 7,084 |  | $ | 5,105 |  | $ | -
Impact of adopting CECL |  | - |  |  | - |  |  | - |  |  | 3,922
Provision for credit losses - (benefit) expense |  | (971) |  |  | (803) |  |  | (3,346) |  |  | 2,359
Ending balance | $ | 1,759 |  | $ | 6,281 |  | $ | 1,759 |  | $ | 6,281

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- Definition Tabular disclosure of allowance for credit loss on financing receivable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -URI http://asc.fasb.org/extlink&oid=121611835&loc=SL6953423-111524 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919249-210447 + Details
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