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ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LEASES (Tables) | 6 Months Ended
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Jun. 30, 2022
Allowance for Credit Loss [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 June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
ACL: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 68,820 |  | $ | 1,842 |  | $ | 30,138 |  | $ | 36,784 |  | $ | 107,863 |  | $ | 245,447
Provision for credit losses - (benefit) expense |  | (2,797) |  |  | 151 |  |  | 1,265 |  |  | (1,102) |  |  | 15,148 |  |  | 12,665
Charge-offs |  | (2,079) |  |  | (16) |  |  | (2) |  |  | (68) |  |  | (10,427) |  |  | (12,592)
Recoveries |  | 1,287 |  |  | 43 |  |  | 1,218 |  |  | 589 |  |  | 3,495 |  |  | 6,632
Ending balance | $ | 65,231 |  | $ | 2,020 |  | $ | 32,619 |  | $ | 36,203 |  | $ | 116,079 |  | $ | 252,152
| Residential Mortgage Loans |  | Construction Loans |  | Commercial Mortgage |  | Commercial & Industrial Loans |  | Consumer Loans |  | Total
Six-Month Period Ended June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
ACL: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 74,837 |  | $ | 4,048 |  | $ | 52,771 |  | $ | 34,284 |  | $ | 103,090 |  | $ | 269,030
Provision for credit losses - (benefit) expense |  | (7,668) |  |  | (2,063) |  |  | (21,375) |  |  | 653 |  |  | 26,129 |  |  | (4,324)
Charge-offs |  | (4,607) |  |  | (60) |  |  | (39) |  |  | (358) |  |  | (20,243) |  |  | (25,307)
Recoveries |  | 2,669 |  |  | 95 |  |  | 1,262 |  |  | 1,624 |  |  | 7,103 |  |  | 12,753
Ending balance | $ | 65,231 |  | $ | 2,020 |  | $ | 32,619 |  | $ | 36,203 |  | $ | 116,079 |  | $ | 252,152
| Residential Mortgage Loans |  | Construction Loans |  | Commercial Mortgage Loans |  | Commercial & Industrial Loans |  | Consumer Loans |  | Total
Quarter Ended June 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
ACL: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 114,044 |  | $ | 4,915 |  | $ | 99,782 |  | $ | 32,087 |  | $ | 108,108 |  | $ | 358,936
Provision for credit losses - expense (benefit) |  | 825 |  |  | (196) |  |  | (27,299) |  |  | (426) |  |  | 794 |  |  | (26,302)
Charge-offs |  | (2,927) |  |  | - |  |  | (81) |  |  | (60) |  |  | (14,798) |  |  | (17,866)
Recoveries |  | 940 |  |  | 38 |  |  | 50 |  |  | 5,869 |  |  | 3,293 |  |  | 10,190
Ending balance | $ | 112,882 |  | $ | 4,757 |  | $ | 72,452 |  | $ | 37,470 |  | $ | 97,397 |  | $ | 324,958
| Residential Mortgage Loans |  | Construction Loans |  | Commercial Mortgage Loans |  | Commercial & Industrial Loans |  | Consumer Loans |  | Total
Six-Month Period Ended June 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 |  | (3,350) |  |  | (652) |  |  | (36,119) |  |  | (5,738) |  |  | 5,114 |  |  | (40,745)
Charge-offs |  | (5,752) |  |  | (45) |  |  | (875) |  |  | (869) |  |  | (26,559) |  |  | (34,100)
Recoveries |  | 1,673 |  |  | 74 |  |  | 104 |  |  | 6,133 |  |  | 5,932 |  |  | 13,916
Ending balance | $ | 112,882 |  | $ | 4,757 |  | $ | 72,452 |  | $ | 37,470 |  | $ | 97,397 |  | $ | 324,958
The tables below present the ACL related to loans and finance leases and the carrying value of loans by portfolio segment as of June 30, 2022 and December 31, 2021:
|  |  |  | Residential Mortgage Loans |  | Construction Loans |  | Commercial Mortgage Loans |  | Commercial and Industrial Loans (1) |  | Consumer Loans |  | Total |
As of June 30, 2022 |  |  |  |  |  |
(Dollars in thousands) |  |  |  |  |  |
Total loans held for investment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Amortized cost of loans | $ | 2,851,685 |  | $ | 115,310 |  | $ | 2,270,113 |  | $ | 2,862,917 |  | $ | 3,106,849 |  | $ | 11,206,874 |
| Allowance for credit losses |  | 65,231 |  |  | 2,020 |  |  | 32,619 |  |  | 36,203 |  |  | 116,079 |  |  | 252,152 |
| Allowance for credit losses to |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | amortized cost |  | 2.29 | % |  | 1.75 | % |  | 1.44 | % |  | 1.26 | % |  | 3.74 | % |  | 2.25 | %
As of December 31, 2021 | 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 | $ | 2,978,895 |  | $ | 138,999 |  | $ | 2,167,469 |  | $ | 2,887,251 |  | $ | 2,888,044 |  |  | 11,060,658 |
| Allowance for credit losses |  | 74,837 |  |  | 4,048 |  |  | 52,771 |  |  | 34,284 |  |  | 103,090 |  |  | 269,030 |
| Allowance for credit losses to |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | amortized cost |  | 2.51 | % |  | 2.91 | % |  | 2.43 | % |  | 1.19 | % |  | 3.57 | % |  | 2.43 | %
(1) | As of June 30, 2022 and December 31, 2021, includes $49.4 million and $145.0 million of SBA PPP loans, respectively, which require no ACL as these loans are 100% guaranteed by the SBA.
| Quarter Ended |  | Six-Month Period Ended
| June 30, |  | June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
(In thousands) |  |  |  |  |  |  |  |  |  |  |
Beginning Balance | $ | 1,359 |  | $ | 4,399 |  | $ | 1,537 |  | $ | 5,105
Provision for credit losses - expense (benefit) |  | 812 |  |  | (1,669) |  |  | 634 |  |  | (2,375)
Ending balance | $ | 2,171 |  | $ | 2,730 |  | $ | 2,171 |  | $ | 2,730

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