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ALLOWANCE FOR CREDIT LOSSES FOR LOANS AND FINANCE LEASES (Tables) | 9 Months Ended
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Sep. 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 September 30, 2023 (In thousands) ACL: Beginning balance $ 60,514 $ 4,804 $ 42,427 $ 28,014 $ 131,299 $ 267,058 Provision for credit losses - (benefit) expense (3,349) (642) (1,344) 1,931 14,047 10,643 Charge-offs (499) (4) (1) (9) (19,746) (20,259) Recoveries 534 1,463 75 161 3,940 6,173 Ending balance $ 57,200 $ 5,621 $ 41,157 $ 30,097 $ 129,540 $ 263,615 Residential Mortgage Loans Construction Loans Commercial Mortgage Commercial & Industrial Loans Consumer Loans Total Quarter Ended September 30, 2022 (In thousands) ACL: Beginning balance $ 65,231 $ 2,020 $ 32,619 $ 36,203 $ 116,079 $ 252,152 Provision for credit losses - expense (benefit) 755 (179) (2,383) (1,228) 17,387 14,352 Charge-offs (1,466) (63) (3) (8) (12,522) (14,062) Recoveries 559 43 57 494 4,264 5,417 Ending balance $ 65,079 $ 1,821 $ 30,290 $ 35,461 $ 125,208 $ 257,859 Residential Mortgage Loans Construction Loans Commercial Mortgage Commercial & Industrial Loans Consumer Loans Total Nine-Month Period Ended September 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 (6,776) 1,420 5,901 3,278 43,846 47,669 Charge-offs (2,628) (42) (107) (6,477) (53,006) (62,260) Recoveries 1,788 1,935 299 383 11,221 15,626 Ending balance $ 57,200 $ 5,621 $ 41,157 $ 30,097 $ 129,540 $ 263,615 Residential Mortgage Loans Construction Loans Commercial Mortgage Commercial & Industrial Loans Consumer Loans Total Nine-Month Period Ended September 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 (6,913) (2,242) (23,758) (575) 43,516 10,028 Charge-offs (6,073) (123) (42) (366) (32,765) (39,369) Recoveries 3,228 138 1,319 2,118 11,367 18,170 Ending balance $ 65,079 $ 1,821 $ 30,290 $ 35,461 $ 125,208 $ 257,859 The tables below present the ACL related to loans and finance leases and the carrying values of loans by portfolio segment as of September 30, 2023 and December 31, 2022: As of September 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 $ 2,812,631 $ 202,774 $ 2,316,113 $ 3,030,954 $ 3,588,460 $ 11,950,932 Allowance for credit losses 57,200 5,621 41,157 30,097 129,540 263,615 Allowance for credit losses to amortized cost 2.03 % 2.77 % 1.78 % 0.99 % 3.61 % 2.21 % 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 nine-month periods ended September 30, 2023 and 2022: Quarter Ended Nine-Month Period Ended September 30, September 30, 2023 2022 2023 2022 (In thousands) Beginning Balance $ 4,889 $ 2,171 $ 4,273 $ 1,537 Provision for credit losses - (benefit) expense (128) 2,071 488 2,705 Ending balance $ 4,761 $ 4,242 $ 4,761 $ 4,242

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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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