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ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LEASES (Tables) | 3 Months Ended
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Mar. 31, 2023
ALLOWANCE FOR CREDIT LOSSES ON LOANS AND FINANCE LEASES [Abstract] |
Allowance For Credit Losses On Financing Receivables Table [Text Block] | The following tables present the activity in the ACL on 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 March 31, 2023 (In thousands) ACL: Beginning balance $ 62,760 $ 2,308 $ 35,064 $ 32,906 $ 127,426 $ 260,464 Impact of adoption of ASU 2022-02 2,056 - - 7 53 2,116 Provision for credit losses - expense (benefit) 73 860 1,246 (1,650) 15,727 16,256 Charge-offs (983) - (18) (118) (16,798) (17,917) Recoveries 497 63 168 90 3,830 4,648 Ending balance $ 64,403 $ 3,231 $ 36,460 $ 31,235 $ 130,238 $ 265,567 Residential Mortgage Loans Construction Loans Commercial Mortgage Commercial & Industrial Loans Consumer Loans Total Quarter Ended March 31, 2022 (In thousands) ACL: Beginning balance $ 74,837 $ 4,048 $ 52,771 $ 34,284 $ 103,090 $ 269,030 Provision for credit losses - (benefit) expense (4,871) (2,214) (22,640) 1,755 10,981 (16,989) Charge-offs (2,528) (44) (37) (290) (9,816) (12,715) Recoveries 1,382 52 44 1,035 3,608 6,121 Ending balance $ 68,820 $ 1,842 $ 30,138 $ 36,784 $ 107,863 $ 245,447 The tables below present the ACL related to loans and finance leases and the carrying values of loans by portfolio segment as of March 31, 2023 and December 31, 2022: As of March 31, 2023 Residential Mortgage Loans Construction Loans Commercial Mortgage Loans Commercial and Industrial Loans Consumer Loans Total (Dollars in thousands) Total loans held for investment: Amortized cost of loans $ 2,811,528 $ 143,664 $ 2,353,659 $ 2,862,189 $ 3,406,945 $ 11,577,985 Allowance for credit losses 64,403 3,231 36,460 31,235 130,238 265,567 Allowance for credit losses to amortized cost 2.29 % 2.25 % 1.55 % 1.09 % 3.82 % 2.29 % As of December 31, 2022 Residential Mortgage Loans Construction Loans Commercial Mortgage Loans Commercial and Industrial Loans Consumer Loans Total (Dollars in thousands) Total loans held for investment: Amortized cost of loans $ 2,847,290 $ 132,953 $ 2,358,851 $ 2,886,263 $ 3,327,468 $ 11,552,825 Allowance for credit losses 62,760 2,308 35,064 32,906 127,426 260,464 Allowance for credit losses to amortized cost 2.20 % 1.74 % 1.49 % 1.14 % 3.83 % 2.25 % The following table presents the activity in the ACL for unfunded loan commitments and standby letters of credit for the quarters ended March 31, 2023 and 2022: Quarter Ended March 31, 2023 2022 (In thousands) Beginning Balance $ 4,273 $ 1,537 Provision for credit losses - (benefit) (105) (178) Ending balance $ 4,168 $ 1,359

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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 https://asc.fasb.org/extlink&oid=123577603&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 https://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447 + Details
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