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ALLOWANCE FOR CREDIT LOSSES FOR LOANS AND FINANCE LEASES (Tables) | 6 Months Ended
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Jun. 30, 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 June 30, 2025 (In thousands) ACL: Beginning balance $ 41,640 $ 3,417 $ 24,143 $ 36,464 $ 141,605 $ 247,269 Provision for credit losses - expense (benefit) 793 1,121 (1,448) 2,135 17,780 20,381 Charge-offs (285) - - (66) (24,178) (24,529) Recoveries 300 13 51 826 4,267 5,457 Ending balance $ 42,448 $ 4,551 $ 22,746 $ 39,359 $ 139,474 $ 248,578 Residential Mortgage Loans Construction Loans Commercial Mortgage C&I Loans Consumer Loans Total Quarter Ended June 30, 2024 (In thousands) ACL: Beginning balance $ 56,689 $ 6,186 $ 32,661 $ 35,423 $ 132,633 $ 263,592 Provision for credit losses - (benefit) expense (10,593) (554) (2,976) (596) 26,649 11,930 Charge-offs (491) - - (348) (25,575) (26,414) Recoveries 446 14 393 961 3,610 5,424 Ending balance $ 46,051 $ 5,646 $ 30,078 $ 35,440 $ 137,317 $ 254,532 Residential Mortgage Loans Construction Loans Commercial Mortgage C&I Loans Consumer Loans Total Six-Month Period Ended June 30, 2025 (In thousands) ACL: Beginning balance $ 40,654 $ 3,824 $ 22,447 $ 33,034 $ 143,983 $ 243,942 Provision for credit losses - expense 1,797 700 208 5,488 37,025 45,218 Charge-offs (520) - - (143) (52,076) (52,739) Recoveries 517 27 91 980 10,542 (1) 12,157 Ending balance $ 42,448 $ 4,551 $ 22,746 $ 39,359 $ 139,474 $ 248,578 (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 Six-Month Period Ended June 30, 2024 (In thousands) ACL: Beginning balance $ 57,397 $ 5,605 $ 32,631 $ 33,996 $ 132,214 $ 261,843 Provision for credit losses - (benefit) expense (11,057) 17 (2,986) (3,756) 42,629 24,847 Charge-offs (1,007) - - (880) (53,866) (55,753) Recoveries 718 24 433 6,080 16,340 (1) 23,595 Ending balance $ 46,051 $ 5,646 $ 30,078 $ 35,440 $ 137,317 $ 254,532 (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 June 30, 2025 and December 31, 2024: As of June 30, 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 $ 2,859,158 $ 245,350 $ 2,502,475 $ 3,516,008 $ 3,747,011 $ 12,870,002 Allowance for credit losses 42,448 4,551 22,746 39,359 139,474 248,578 Allowance for credit losses to amortized cost 1.48 % 1.85 % 0.91 % 1.12 % 3.72 % 1.93 % 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 and six-month periods ended June 30, 2025 and 2024: Quarter Ended Six-Month Period Ended June 30, June 30, 2025 2024 2025 2024 (In thousands) Beginning balance $ 3,080 $ 4,919 $ 3,143 $ 4,638 Provision for credit losses - expense (benefit) 287 (417) 224 (136) Ending balance $ 3,367 $ 4,502 $ 3,367 $ 4,502

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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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