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ALLOWANCE FOR CREDIT LOSSES FOR LOANS AND FINANCE LEASES (Tables) | 3 Months Ended
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Mar. 31, 2025
ALLOWANCE FOR CREDIT LOSSES FOR LOANS AND FINANCE LEASES [Abstract] |
Allowance for Credit Losses on Loans and Finance Leases [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 C&I Loans Consumer Loans Total Quarter Ended March 31, 2025 (In thousands) ACL: Beginning balance $ 40,654 $ 3,824 $ 22,447 $ 33,034 $ 143,983 $ 243,942 Provision for credit losses - expense (benefit) 1,004 (421) 1,656 3,353 19,245 24,837 Charge-offs (235) - - (77) (27,898) (28,210) Recoveries 217 14 40 154 6,275 (1) 6,700 Ending balance $ 41,640 $ 3,417 $ 24,143 $ 36,464 $ 141,605 $ 247,269 (1) Includes recoveries totaling $ 2.4 million associated with the bulk sale of fully charged-off consumer loans and finance leases. Residential Mortgage Loans Construction Loans Commercial Mortgage C&I Loans Consumer Loans Total Quarter Ended March 31, 2024 (In thousands) ACL: Beginning balance $ 57,397 $ 5,605 $ 32,631 $ 33,996 $ 132,214 $ 261,843 Provision for credit losses - (benefit) expense (464) 571 (10) (3,160) 15,980 12,917 Charge-offs (516) - - (532) (28,291) (29,339) Recoveries 272 10 40 5,119 12,730 (1) 18,171 Ending balance $ 56,689 $ 6,186 $ 32,661 $ 35,423 $ 132,633 $ 263,592 (1) Includes recoveries totaling $ 9.5 million associated with the bulk sale of fully charged-off consumer loans and finance leases. 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, 2025 and December 31, 2024: As of March 31, 2025 Residential Mortgage Loans Construction Loans Commercial Mortgage Loans C&I Loans Consumer Loans Total (Dollars in thousands) Total loans held for investment: Amortized cost of loans $ 2,837,846 $ 234,441 $ 2,501,689 $ 3,359,868 $ 3,741,554 $ 12,675,398 Allowance for credit losses 41,640 3,417 24,143 36,464 141,605 247,269 Allowance for credit losses to amortized cost 1.47 % 1.46 % 0.97 % 1.09 % 3.78 % 1.95 % As of December 31, 2024 Residential Mortgage Loans Construction Loans Commercial Mortgage Loans C&I Loans Consumer Loans Total (Dollars in thousands) Total loans held for investment: Amortized cost of loans $ 2,828,431 $ 228,396 $ 2,565,984 $ 3,366,038 $ 3,757,707 $ 12,746,556 Allowance for credit losses 40,654 3,824 22,447 33,034 143,983 243,942 Allowance for credit losses to amortized cost 1.44 % 1.67 % 0.87 % 0.98 % 3.83 % 1.91 % The following table presents the activity in the ACL for unfunded loan commitments and standby letters of credit for the quarters ended March 31, 2025 and 2024: Quarter Ended March 31, 2025 2024 (In thousands) Beginning balance $ 3,143 $ 4,638 Provision for credit losses - (benefit) expense (63) 281 Ending balance $ 3,080 $ 4,919

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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/otherTransitionRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-11B Reference 2: 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 + Details
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