XML 57 R46.htm IDEA: XBRL DOCUMENT v3.21.2
ALLOWANCE FOR CREDIT LOSSES FOR LOANS AND FINANCE LEASES (Tables)
 9 Months Ended
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