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Loans and Allowance for Credit Losses (Tables)
3 Months Ended
Mar. 31, 2021
Receivables [Abstract]  
Summary of Gross Loans by Type
Net Loans are summarized as follows:
March 31,
2021
December 31, 2020
 (in thousands)
Real estate - commercial mortgage$7,142,137 $7,105,092 
Commercial and industrial (1)
5,675,714 5,670,828 
Real-estate - residential mortgage3,254,058 3,141,915 
Real-estate - home equity1,149,958 1,202,913 
Real-estate - construction1,083,494 1,047,218 
Consumer451,857 466,772 
Equipment lease financing and other252,930 284,377 
Overdrafts1,373 4,806 
Gross loans19,011,521 18,923,921 
Unearned income(20,535)(23,101)
Net Loans$18,990,986 $18,900,820 
(1) Includes PPP loans totaling $1.7 billion and $1.6 billion as of March 31, 2021 and December 31, 2020, respectively.
Schedule of Allowance for Credit Losses
The following table presents the components of the ACL:
March 31, 2021December 31, 2020
(in thousands)
ACL - loans $265,986 $277,567 
ACL - OBS credit exposure14,273 14,373 
        Total ACL$280,259 $291,940 
Activity in the Allowance for Credit Losses
The following table presents the activity in the ACL:
Three months ended March 31
 20212020
(in thousands)
Balance at beginning of period$291,940 $166,209 
Impact of adopting CECL on January 1, 2020 (1)
— 58,349 
Loans charged off(8,202)(14,003)
Recoveries of loans previously charged off2,021 2,887 
Net loans charged off(6,181)(11,116)
Provision for credit losses (2)
(5,500)44,029 
Balance at end of period$280,259 $257,471 
(1) Includes $12.6 million of reserves for OBS credit exposures as of January 1, 2020.
(2) Includes $(100,000) and $3.8 million related to OBS credit exposures for the three months ended March 31, 2021 and 2020, respectively.

The following table presents the activity in the ACL - loans by portfolio segment:
Real Estate -
Commercial
Mortgage
Commercial and
Industrial
Real Estate -
Home
Equity
Real Estate -
Residential
Mortgage
Real Estate
 -
Construction
ConsumerEquipment lease financing, other
and overdrafts
Total
 (in thousands)
Three months ended March 31, 2021
Balance at December 31, 2020$103,425 $74,771 $14,232 $51,995 $15,608 $10,905 $6,633 $277,567 
Loans charged off(1,837)(4,319)(212)(192)(39)(635)(968)(8,202)
Recoveries of loans previously charged off174 769 51 95 384 389 159 2,021 
Net loans recovered (charged off) (1,663)(3,550)(161)(97)345 (246)(809)(6,181)
Provision for loan losses (1)
(786)(27)(341)(1,903)(874)(1,247)(222)(5,400)
Balance at March 31, 2021$100,976 $71,194 $13,730 $49,995 $15,079 $9,412 $5,602 $265,986 
Three months ended March 31, 2020
Balance at December 31, 2019$45,610 $68,602 $17,744 $19,771 $4,443 $3,762 $3,690 $163,622 
Impact of adopting CECL on January 1, 202029,361 (18,576)(65)21,235 4,015 5,969 3,784 45,723 
Loans charged off(855)(10,899)(316)(187)— (1,213)(533)(14,003)
Recoveries of loans previously charged off244 1,734 646 85 70 — 108 2,887 
Net loans (charged off) recovered (611)(9,165)330 (102)70 (1,213)(425)(11,116)
Provision for loan losses (1)
15,959 22,745 (2,756)1,523 (130)1,347 1,591 40,279 
Balance at March 31, 2020$90,319 $63,606 $15,253 $42,427 $8,398 $9,865 $8,640 $238,508 
(1) Provision included in the table only includes the portion related to Net Loans.
Total Impaired Loans by Class Segment
The following table presents total non-accrual loans, by class segment:
March 31, 2021December 31, 2020
With a Related AllowanceWithout a Related AllowanceTotalWith a Related AllowanceWithout a Related AllowanceTotal
(in thousands)
Real estate - commercial mortgage$21,107 $30,870 $51,977 $19,909 $31,561 $51,470 
Commercial and industrial13,012 18,640 31,652 13,937 18,056 31,993 
Real estate - residential mortgage31,203 2,198 33,401 24,590 1,517 26,107 
Real estate - home equity9,368  9,368 9,398 190 9,588 
Real estate - construction544 897 1,441 437 958 1,395 
Consumer301  301 332 — 332 
Equipment lease financing and other6,462 9,287 15,749 — 16,313 16,313 
$81,997 $61,892 $143,889 $68,603 $68,595 $137,198 
Financing Receivable Credit Quality Indicators
The following table summarizes designated internal risk rating categories by portfolio segment and loan class, by origination year, in the current period:
March 31, 2021
Term Loans Amortized Cost Basis by Origination YearRevolving LoansRevolving Loans converted to Term Loans
(dollars in thousands)AmortizedAmortized
20212020201920182017PriorCost BasisCost BasisTotal
 Real estate - construction(1)
Pass$14,615 $233,770 $201,440 $218,467 $80,686 $142,339 $36,046 $— $927,363 
Special Mention110 — — — — 13,195 — — 13,305 
Substandard or Lower— — 154 — 1,976 3,520 406 — 6,056 
Total real estate - construction14,725 233,770 201,594 218,467 82,662 159,054 36,452 — 946,724 
Real estate - construction(1)
Current period gross charge-offs— — (39)— — — — — (39)
Current period recoveries— — — — — 384 — — 384 
Total net (charge-offs) recoveries— — (39)— — 384 — — 345 
Commercial and industrial
Pass885,616 1,624,535 481,038 290,788 201,910 726,981 1,205,065 — 5,415,933 
Special Mention143 9,136 20,949 16,337 10,413 30,861 48,939 — 136,778 
Substandard or Lower— 2,847 7,167 13,503 10,638 34,805 54,043 — 123,003 
Total commercial and industrial885,759 1,636,518 509,154 320,628 222,961 792,647 1,308,047 — 5,675,714 
Commercial and industrial
Current period gross charge-offs— — (613)(2,871)(60)(775)— — (4,319)
Current period recoveries— — 37 126 36 570 — — 769 
Total net (charge-offs) recoveries— — (576)(2,745)(24)(205)— — (3,550)
Real estate - commercial mortgage
Pass200,885 993,776 926,352 670,684 767,399 2,800,409 49,207 321 6,409,033 
Special Mention— 23,282 30,629 92,800 75,417 248,403 2,406 — 472,937 
Substandard or Lower— 1,028 24,008 10,673 46,460 174,421 3,577 — 260,167 
Total real estate - commercial mortgage200,885 1,018,086 980,989 774,157 889,276 3,223,233 55,190 321 7,142,137 
Real estate - commercial mortgage
Current period gross charge-offs— — — — (1,719)(118)— — (1,837)
Current period recoveries— — — — — 174 — — 174 
Total net (charge-offs) recoveries— — — — (1,719)56 — — (1,663)
Total
Pass$1,101,116 $2,852,081 $1,608,830 $1,179,939 $1,049,995 $3,669,729 $1,290,318 $321 $12,752,329 
Special Mention253 32,418 51,578 109,137 85,830 292,459 51,345 — 623,020 
Substandard or Lower— 3,875 31,329 24,176 59,074 212,746 58,026 — 389,226 
Total$1,101,369 $2,888,374 $1,691,737 $1,313,252 $1,194,899 $4,174,934 $1,399,689 $321 $13,764,575 
(1) Excludes real estate - construction - other.

The Corporation does not assign internal risk ratings to smaller balance, homogeneous loans, such as home equity, residential mortgage, construction loans to individuals secured by residential real estate, consumer and equipment lease financing. For these loans, the most relevant credit quality indicator is delinquency status. The migration of loans through the various delinquency status categories is a significant component of the ACL methodology for those loans, which bases the PD on this migration.
The following table summarizes designated internal risk rating categories by portfolio segment and loan class, by origination year, in the prior period:
December 31, 2020
Term Loans Amortized Cost Basis by Origination YearRevolving LoansRevolving Loans converted to Term Loans
(dollars in thousands)AmortizedAmortized
20202019201820172016PriorCost BasisCost BasisTotal
 Real estate - construction(1)
Pass$185,883 $229,097 $217,604 $81,086 $37,976 $110,470 $38,026 $— $900,142 
Special Mention— — — — 7,047 6,212 — — 13,259 
Substandard or Lower— 447 — 2,000 753 1,637 632 — 5,469 
Total real estate - construction185,883 229,544 217,604 83,086 45,776 118,319 38,658 — 918,870 
Real estate - construction(1)
Current period gross charge-offs— — — — — (17)— — (17)
Current period recoveries— — — — 68 5,054 — — 5,122 
Total net (charge-offs) recoveries— — — — 68 5,037 — — 5,105 
Commercial and industrial
Pass2,283,533 508,541 298,567 214,089 208,549 596,646 1,278,689 — 5,388,614 
Special Mention6,633 23,834 29,167 10,945 11,506 25,960 45,994 — 154,039 
Substandard or Lower3,221 5,947 8,434 11,251 11,192 23,852 64,278 — 128,175 
Total commercial and industrial2,293,387 538,322 336,168 236,285 231,247 646,458 1,388,961 — 5,670,828 
Commercial and industrial
Current period gross charge-offs— (114)(30)(488)(393)(520)(17,370)— (18,915)
Current period recoveries— 43 486 216 162 4,531 5,958 — 11,396 
Total net (charge-offs) recoveries— (71)456 (272)(231)4,011 (11,412)— (7,519)
Real estate - commercial mortgage
Pass973,664 917,510 708,946 794,955 783,094 2,213,343 53,041 404 6,444,957 
Special Mention13,639 40,874 84,047 80,705 89,112 167,424 2,364 — 478,165 
Substandard or Lower1,238 6,681 6,247 39,027 22,605 103,007 2,225 940 181,970 
Total real estate - commercial mortgage988,541 965,065 799,240 914,687 894,811 2,483,774 57,630 1,344 7,105,092 
Real estate - commercial mortgage
Current period gross charge-offs(60)(21)(36)(2,515)(29)(1,547)(17)— (4,225)
Current period recoveries— — — 1,020 — — 1,027 
Total net (charge-offs) recoveries(60)(15)(36)(2,515)(28)(527)(17)— (3,198)
Total
Pass$3,443,080 $1,655,148 $1,225,117 $1,090,130 $1,029,619 $2,920,459 $1,369,756 $404 $12,733,713 
Special Mention20,272 64,708 113,214 91,650 107,665 199,596 48,358 — 645,463 
Substandard or Lower4,459 13,075 14,681 52,278 34,550 128,496 67,135 940 315,614 
Total$3,467,811 $1,732,931 $1,353,012 $1,234,058 $1,171,834 $3,248,551 $1,485,249 $1,344 $13,694,790 
(1) Excludes real estate - construction - other.
The following tables present the amortized cost of these loans based on payment activity, by origination year, for the periods shown:
March 31, 2021
Term Loans Amortized Cost Basis by Origination YearRevolving LoansRevolving Loans converted to Term Loans
(dollars in thousands)AmortizedAmortized
20212020201920182017PriorCost BasisCost BasisTotal
Real estate - home equity
Performing$4,491 $29,767 $8,140 $12,312 $9,997 $119,037 $948,645 $4,845 $1,137,234 
Nonperforming— — 88 23 264 2,597 9,545 207 12,724 
Total real estate - home equity4,491 29,767 8,228 12,335 10,261 121,634 958,190 5,052 1,149,958 
Real estate - home equity
Current period gross charge-offs— — — — — — (212)— (212)
Current period recoveries— — — — — — 51 — 51 
Total net (charge-offs) recoveries— — — — — — (161)— (161)
Real estate - residential mortgage
Performing358,906 1,240,446 513,892 181,509 292,014 630,996 — — 3,217,763 
Nonperforming— 3,927 1,654 3,450 2,945 24,319 — — 36,295 
    Total real estate - residential mortgage358,906 1,244,373 515,546 184,959 294,959 655,315 — — 3,254,058 
Real estate - residential mortgage
Current period gross charge-offs— — (40)(47)— (105)— — (192)
Current period recoveries— — — — 92 — 96 
Total net (charge-offs) recoveries— — (40)(44)(105)92 — (96)
Consumer
Performing27,910 103,924 90,185 85,837 38,190 56,885 48,371 — 451,302 
Nonperforming— 127 37 63 35 243 50 — 555 
Total consumer27,910 104,051 90,222 85,900 38,225 57,128 48,421 — 451,857 
Consumer
Current period gross charge-offs— (95)(94)(111)(79)(229)(27)— (635)
Current period recoveries— 33 11 19 321 — — 389 
Total net (charge-offs) recoveries— (62)(89)(100)(60)92 (27)— (246)
Equipment lease financing and other
Performing25,663 68,641 51,804 36,350 22,506 13,054 — — 218,018 
Nonperforming— — — — 15,724 26 — — 15,750 
Total leasing and other25,663 68,641 51,804 36,350 38,230 13,080 — — 233,768 
Equipment lease financing and other
Current period gross charge-offs— (968)— — — — — — (968)
Current period recoveries— 120 39 — — — — — 159 
Total net (charge-offs) recoveries— (848)39 — — — — — (809)
Construction - other
Performing17,458 97,829 16,172 4,755 — 16 — — 136,230 
Nonperforming— — 364 — 176 — — — 540 
Total construction - other17,458 97,829 16,536 4,755 176 16 — — 136,770 
Construction - other
Current period gross charge-offs— — — — — — — — — 
Current period recoveries— — — — — — — — — 
Total net (charge-offs) recoveries— — — — — — — — — 
Total
Performing$434,428 $1,540,607 $680,193 $320,763 $362,707 $819,988 $997,016 $4,845 $5,160,547 
Nonperforming— 4,054 2,143 3,536 19,144 27,185 9,595 207 65,864 
Total$434,428 $1,544,661 $682,336 $324,299 $381,851 $847,173 $1,006,611 $5,052 $5,226,411 
December 31, 2020
Term Loans Amortized Cost Basis by Origination YearRevolving LoansRevolving Loans converted to Term Loans
(dollars in thousands)AmortizedAmortized
20202019201820172016PriorCost BasisCost BasisTotal
Real estate - home equity
Performing$31,445 $8,176 $13,906 $11,024 $11,667 $126,749 $982,285 $5,321 $1,190,573 
Nonperforming— 88 23 233 221 2,290 9,485 — 12,340 
Total real estate - home equity31,445 8,264 13,929 11,257 11,888 129,039 991,770 5,321 1,202,913 
Real estate - home equity
Current period gross charge-offs— — — — — (34)(1,159)— (1,193)
Current period recoveries— — — — — 138 366 — 504 
Total net (charge-offs) recoveries— — — — — 104 (793)— (689)
Real estate - residential mortgage
Performing1,255,532 585,878 228,398 341,563 264,990 434,889 — — 3,111,250 
Nonperforming217 2,483 3,177 2,483 722 21,583 — — 30,665 
    Total real estate - residential mortgage1,255,749 588,361 231,575 344,046 265,712 456,472 — — 3,141,915 
Real estate - residential mortgage
Current period gross charge-offs— (68)(101)(190)(7)(254)— — (620)
Current period recoveries— 68 16 405 — — 491 
Total net (charge-offs) recoveries— — (85)(189)(6)151 — — (129)
Consumer
Performing114,399 98,587 95,072 43,334 25,804 36,086 52,698 42 466,022 
Nonperforming168 19 124 141 114 150 34 — 750 
Total consumer114,567 98,606 95,196 43,475 25,918 36,236 52,732 42 466,772 
Consumer
Current period gross charge-offs(134)(542)(524)(444)(489)(769)(498)— (3,400)
Current period recoveries— 64 165 159 94 101 1,292 — 1,875 
Total net (charge-offs) recoveries(134)(478)(359)(285)(395)(668)794 — (1,525)
Equipment lease financing and other
Performing102,324 65,303 49,453 34,995 15,631 5,040 — — 272,746 
Nonperforming— — 30 15,983 142 282 — — 16,437 
Total leasing and other102,324 65,303 49,483 50,978 15,773 5,322 — — 289,183 
Equipment lease financing and other
Current period gross charge-offs(606)(1,581)— — — — — — (2,187)
Current period recoveries185 349 21 18 11 21 — — 605 
Total net (charge-offs) recoveries(421)(1,232)21 18 11 21 — — (1,582)
Construction - other
Performing96,444 24,888 6,822 — 16 — — — 128,170 
Nonperforming— — — 178 — — — — 178 
Total construction - other96,444 24,888 6,822 178 16 — — — 128,348 
Construction - other
Current period gross charge-offs— — — — — — — — — 
Current period recoveries— — — — — — — — — 
Total net (charge-offs) recoveries— — — — — — — — — 
Total
Performing$1,600,144 $782,832 $393,651 $430,916 $318,108 $602,764 $1,034,983 $5,363 $5,168,761 
Nonperforming385 2,590 3,354 19,018 1,199 24,305 9,519 — 60,370 
Total$1,600,529 $785,422 $397,005 $449,934 $319,307 $627,069 $1,044,502 $5,363 $5,229,131 
Non-Performing Assets
The following table presents non-performing assets:
March 31,
2021
December 31,
2020
 (in thousands)
Non-accrual loans$143,889 $137,198 
Loans 90 days or more past due and still accruing8,559 9,929 
Total non-performing loans152,448 147,127 
OREO (1)
3,664 4,178 
Total non-performing assets$156,112 $151,305 
(1) Excludes $7.6 million and $8.1 million of residential mortgage properties for which formal foreclosure proceedings were in process as of March 31, 2021 and December 31, 2020, respectively.
Past due Loan Status and Non-Accrual Loans by Portfolio Segment
The following tables present the aging of the amortized cost basis of loans, by class segment:
30-5960-89≥ 90 Days
Days PastDays PastPast DueNon-
DueDueand AccruingAccrualCurrentTotal
(in thousands)
March 31, 2021
Real estate – commercial mortgage$9,596 $1,516 $2,187 $51,977 $7,076,861 $7,142,137 
Commercial and industrial1,718 1,894 219 31,652 5,640,231 5,675,714 
Real estate – residential mortgage8,485 933 2,750 33,401 3,208,489 3,254,058 
Real estate – home equity2,795 1,062 3,148 9,368 1,133,585 1,149,958 
Real estate – construction170   1,441 1,081,883 1,083,494 
Consumer1,224 491 255 301 449,586 451,857 
Equipment lease financing and other101 142  15,749 217,776 233,768 
Total$24,089 $6,038 $8,559 $143,889 $18,808,411 $18,990,986 

30-59 Days Past
Due
60-89
Days Past
Due
≥ 90 Days
Past Due
and
Accruing
Non-
accrual
CurrentTotal
(in thousands)
December 31, 2020
Real estate – commercial mortgage$14,999 $9,273 $1,177 $51,470 $7,028,173 $7,105,092 
Commercial and industrial11,285 1,068 616 31,993 5,625,866 5,670,828 
Real estate – residential mortgage22,281 7,675 4,687 26,107 3,081,165 3,141,915 
Real estate – home equity5,622 1,654 2,753 9,588 1,183,296 1,202,913 
Real estate – construction1,938 — 155 1,395 1,043,730 1,047,218 
Consumer3,036 501 417 332 462,486 466,772 
Equipment lease financing and other838 150 124 16,313 248,657 266,082 
Total$59,999 $20,321 $9,929 $137,198 $18,673,373 $18,900,820 
Troubled Debt Restructurings on Financing Receivables
The following table presents TDRs, by class segment:
March 31,
2021
December 31,
2020
 (in thousands)
Real estate - commercial mortgage$27,961 $28,451 
Commercial and industrial7,041 6,982 
Real estate - residential mortgage18,214 18,602 
Real estate - home equity13,674 14,391 
Real estate - construction154 — 
Consumer5 — 
Total accruing TDRs67,049 68,426 
Non-accrual TDRs (1)
44,986 35,755 
Total TDRs$112,035 $104,181 
 
(1)Included in non-accrual loans in the preceding table detailing non-performing assets.
Loan Terms Modified Under Troubled Debt Restructurings
The following table presents TDRs, by class segment, for loans that were modified during the three months ended March 31, 2021 and 2020:
Three months ended March 31
20212020
Number of LoansRecorded InvestmentNumber of LoansRecorded Investment
(dollars in thousands)
Commercial and industrial4 $1,894 $74 
Real estate - commercial mortgage2 4,162 392 
Real estate - residential mortgage23 7,626 660 
Real estate - home equity5 148 577 
Real estate - construction1 154 — — 
Total
35 $13,984 17 $1,703