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ALLOWANCE FOR CREDIT LOSSES FOR LOANS AND FINANCE LEASES (Tables) | 6 Months Ended
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Jun. 30, 2023
ALLOWANCE FOR CREDIT LOSSES FOR 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 June 30, 2023 (In thousands) ACL: Beginning balance $ 64,403 $ 3,231 $ 36,460 $ 31,235 $ 130,238 $ 265,567 Provision for credit losses - (benefit) expense (3,500) 1,202 5,999 2,997 14,072 20,770 Charge-offs (1,146) (38) (88) (6,350) (16,462) (24,084) Recoveries 757 409 56 132 3,451 4,805 Ending balance $ 60,514 $ 4,804 $ 42,427 $ 28,014 $ 131,299 $ 267,058 Residential Mortgage Loans Construction Loans Commercial Mortgage Commercial & Industrial Loans Consumer Loans Total Six-Month Period Ended June 30, 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 - (benefit) expense (3,427) 2,062 7,245 1,347 29,799 37,026 Charge-offs (2,129) (38) (106) (6,468) (33,260) (42,001) Recoveries 1,254 472 224 222 7,281 9,453 Ending balance $ 60,514 $ 4,804 $ 42,427 $ 28,014 $ 131,299 $ 267,058 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 The tables below present the ACL related to loans and finance leases and the carrying values of loans by portfolio segment as of June 30, 2023 and December 31, 2022: As of June 30, 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 $ 2,793,790 $ 163,998 $ 2,320,069 $ 2,946,201 $ 3,495,257 $ 11,719,315 Allowance for credit losses 60,514 4,804 42,427 28,014 131,299 267,058 Allowance for credit losses to amortized cost 2.17 % 2.93 % 1.83 % 0.95 % 3.76 % 2.28 % 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 and six-month periods ended June 30, 2023 and 2022: Quarter Ended Six-Month Period Ended June 30, June 30, 2023 2022 2023 2022 (In thousands) Beginning Balance $ 4,168 $ 1,359 $ 4,273 $ 1,537 Provision for credit losses - expense 721 812 616 634 Ending balance $ 4,889 $ 2,171 $ 4,889 $ 2,171

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- Definition Tabular disclosure of allowance for credit loss on financing receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479319/326-20-50-13 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481962/310-10-50-11B + Details
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