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Loans and Allowance for Credit Losses

6 Months Ended

Jun. 30, 2022

Loans and leases, net of unearned income

Loans and leases, net of unearned income are summarized as follows:


	June 30, 2022		December 31, 2021
	(in thousands)
Real estate - commercial mortgage	$	7,417,036	$	7,279,080
Commercial and industrial (1)	4,173,114		4,208,327
Real-estate - residential mortgage	4,203,827		3,846,750
Real-estate - home equity	1,108,808		1,118,248
Real-estate - construction	1,177,446		1,139,779
Consumer	538,747		464,657
Equipment lease financing and other	321,855		283,557
Overdrafts	2,346		1,988
Gross loans	18,943,179		18,342,386
Unearned income	(22,229)		(17,036)
Net loans	$	18,920,950	$	18,325,350

(1) Includes PPP loans totaling $0.1 billion and $0.3 billion as of June 30, 2022 and December 31, 2021, respectively.

The Corporation segments its loan portfolio by "portfolio segments," as presented in the table above. Certain portfolio segments are further disaggregated by "class segment" for the purpose of estimating credit losses.

Allowance for Credit Losses

The ACL related to loans consists of loans evaluated collectively and individually for expected credit losses. The ACL related to loans represents an estimate of expected credit losses over the expected life of the loans as of the balance sheet date and is recorded as a reduction to net loans. The ACL for OBS credit exposure includes estimated losses on unfunded loan commitments, letters of credit and other OBS credit exposures and is recorded in other liabilities. The total ACL is increased by charges to expense, through the provision for credit losses, and decreased by charge-offs, net of recoveries.

The following table presents the components of the ACL:



	June 30, 2022		December 31, 2021
	(in thousands)
ACL - loans	$	248,564	$	249,001
ACL - OBS credit exposure	14,323		14,533
Total ACL	$	262,887	$	263,534

The following table presents the activity in the ACL:


	Three months ended June 30				Six months ended June 30
	2022		2021		2022		2021
	(in thousands)
Balance at beginning of period	$	257,638	$	280,259	$	263,534	$	291,940
Loans charged off	(1,618)		(9,522)		(3,518)		(17,724)
Recoveries of loans previously charged off	5,367		2,568		8,321		4,589
Net loans (charged-off) recovered	3,749		(6,954)		4,803		(13,135)
Provision for credit losses (1)	1,500		(3,500)		(5,450)		(9,000)
Balance at end of period	$	262,887	$	269,805	$	262,887	$	269,805

(1) Includes $0.4 million and $0.5 million related to OBS credit exposures for the three months ended June 30, 2022 and 2021, respectively, and includes

$(0.2) million and $0.4 million related to OBS credit exposure for the six months ended June 30, 2022 and 2021, respectively.

The following table presents the activity in the ACL by portfolio segment:


	Real Estate Commercial Mortgage		Commercial and Industrial		Consumer and Real Estate Home Equity		Real Estate Residential Mortgage		Real Estate Construction		Equipment lease financing, other and overdrafts		Total
	(in thousands)
Three months ended June 30, 2022
Balance at March 31, 2022	$	79,853	$	66,511	$	20,213	$	55,892	$	13,303	$	7,933	$	243,705
Loans charged off	—		(201)		(877)		(66)		—		(474)		(1,618)
Recoveries of loans previously charged off	3,536		739		762		92		12		226		5,367
Net loans recovered (charged off)	3,536		538		(115)		26		12		(248)		3,749
Provision for loan losses (1)	(10,784)		5,070		2,982		5,717		(2,687)		812		1,110
Balance at June 30, 2022	$	72,605	$	72,119	$	23,080	$	61,635	$	10,628	$	8,497	$	248,564
Three months ended June 30, 2021
Balance at March 31, 2021	$	100,976	$	71,194	$	23,142	$	49,995	$	15,079	$	5,600	$	265,986
Loans charged off	(6,506)		(954)		(1,130)		(496)		—		(436)		(9,522)
Recoveries of loans previously charged off	729		693		634		105		254		153		2,568
Net loans recovered (charged off)	(5,777)		(261)		(496)		(391)		254		(283)		(6,954)
Provision for loan and lease losses (1)	182		(5,529)		(652)		4,584		(2,679)		94		(4,000)
Balance at June 30, 2021	$	95,381	$	65,404	$	21,994	$	54,188	$	12,654	$	5,411	$	255,032
Six months ended June 30, 2022
Balance at December 31, 2021	$	87,970	$	67,056	$	19,749	$	54,236	$	12,941	$	7,049	$	249,001
Loans charged off	(152)		(428)		(1,929)		(66)		—		(943)		(3,518)
Recoveries of loans previously charged off	3,648		2,719		1,216		314		44		380		8,321
Net loans recovered (charged off)	3,496		2,291		(713)		248		44		(563)		4,803
Provision for loan losses (1)	(18,861)		2,772		4,044		7,151		(2,357)		2,011		(5,240)
Balance at June 30, 2022	$	72,605	$	72,119	$	23,080	$	61,635	$	10,628	$	8,497	$	248,564
Six months ended June 30, 2021
Balance at December 31, 2020	$	103,425	$	74,771	$	25,137	$	51,995	$	15,608	$	6,631	$	277,567
Loans charged off	(8,343)		(5,273)		(1,977)		(688)		(39)		(1,404)		(17,724)
Recoveries of loans previously charged off	903		1,462		1,074		200		638		312		4,589
Net loans recovered (charged off)	(7,440)		(3,811)		(903)		(488)		599		(1,092)		(13,135)
Provision for loan losses (1)	(604)		(5,556)		(2,240)		2,681		(3,553)		(128)		(9,400)
Balance at June 30, 2021	$	95,381	$	65,404	$	21,994	$	54,188	$	12,654	$	5,411	$	255,032

(1) Provision included in the table only includes the portion related to net loans.

The ACL includes qualitative adjustments, as appropriate, intended to capture the impact of uncertainties not reflected in the quantitative models. Qualitative adjustments include and consider changes in national, regional and local economic and

business conditions, an assessment of the lending environment, including underwriting standards and other factors affecting credit quality.

The provision for credit losses for the second quarter of 2022 was recorded to increase the allowance for credit losses as a result of loan growth during the quarter as well as the economic outlook.

Several factors as of the end of the second quarter of 2022 in comparison to the end of the second quarter of 2021, including a reduction in qualitative adjustments due to COVID-19-related uncertainties, reduced the level of the ACL determined to be necessary as of June 30, 2022.

Non-accrual Loans

All loans individually evaluated for impairment are measured for losses on a quarterly basis. As of June 30, 2022 and December 31, 2021, substantially all of the Corporation's individually evaluated loans with total commitments greater than or equal to $1.0 million were measured based on the estimated fair value of each loan’s collateral, if any. Collateral could be in the form of real estate, in the case of commercial mortgages and construction loans, or business assets, such as accounts receivable or inventory, in the case of commercial and industrial loans. Commercial and industrial loans may also be secured by real estate.

As of June 30, 2022 and December 31, 2021, approximately 68% and 98%, respectively, of loans evaluated individually for impairment with principal balances greater than or equal to $1.0 million, whose primary collateral consisted of real estate, were measured at estimated fair value using appraisals performed by state certified third-party appraisers that had been updated in the preceding 12 months.

The following table presents total non-accrual loans, by class segment:


	June 30, 2022						December 31, 2021
	With a Related Allowance		Without a Related Allowance		Total		With a Related Allowance		Without a Related Allowance		Total
	(in thousands)
Real estate - commercial mortgage	$	18,035	$	41,530	$	59,565	$	20,564	$	32,251	$	52,815
Commercial and industrial	13,593		30,098		43,691		12,571		17,570		30,141
Real estate - residential mortgage	34,390		1,195		35,585		35,269		—		35,269
Real estate - home equity	7,974		136		8,110		8,671		—		8,671
Real estate - construction	—		1,357		1,357		173		728		901
Consumer	160		—		160		229		—		229
Equipment lease financing and other	4,807		9,255		14,062		6,247		9,393		15,640
	$	78,959	$	83,571	$	162,530	$	83,724	$	59,942	$	143,666

As of June 30, 2022 and December 31, 2021, there were $83.6 million and $59.9 million, respectively, of non-accrual loans that did not have a related allowance for credit losses. The estimated fair values of the collateral securing these loans exceeded their carrying amount, or the loans were previously charged down to realizable collateral values. Accordingly, no specific valuation allowance was considered to be necessary.

Asset Quality

Maintaining an appropriate ACL is dependent on various factors, including the ability to identify potential problem loans in a timely manner. For commercial construction, residential construction, commercial and industrial, and commercial real estate, an internal risk rating process is used. The Corporation believes that internal risk ratings are the most relevant credit quality indicator for these types of loans. The migration of loans through the various internal risk rating categories is a significant component of the ACL methodology for these loans, which bases the probability of default on this migration. Assigning risk ratings involves judgment. The Corporation's loan review officers provide a separate assessment of risk rating accuracy. Risk ratings may be changed based on the ongoing monitoring procedures performed by loan officers or credit administration staff or if specific loan review assessments identify a deterioration or an improvement in the loans.

The following table summarizes designated internal risk rating categories by portfolio segment and loan class, by origination year, in the current period:


		June 30, 2022
		Term Loans Amortized Cost Basis by Origination Year												Revolving Loans		Revolving Loans converted to Term Loans
		(dollars in thousands)												Amortized		Amortized
		2022		2021		2020		2019		2018		Prior		Cost Basis		Cost Basis		Total
Real estate - construction(1)
	Pass	$	42,940	$	292,317	$	287,166	$	66,620	$	49,664	$	120,391	$	29,138	$	1,054	$	889,290
	Special Mention	—		—		2,012		9,984		—		20,678		—		—		32,674
	Substandard or Lower	—		—		—		—		—		4,451		214		—		4,665
	Total real estate - construction	42,940		292,317		289,178		76,604		49,664		145,520		29,352		1,054		926,629
Real estate - construction(1)
	Current period gross charge-offs	—		—		—		—		—		—		—		—		—
	Current period recoveries	—		—		—		—		—		—		—		44		44
	Total net (charge-offs) recoveries	—		—		—		—		—		—		—		44		44
Commercial and industrial(2)
	Pass	462,732		533,826		436,620		346,343		203,490		665,347		1,232,430		724		3,881,512
	Special Mention	6,815		13,149		10,076		9,843		5,927		21,322		65,728		—		132,860
	Substandard or Lower	—		5,621		9,284		28,390		14,915		33,448		67,011		73		158,742
	Total commercial and industrial	469,547		552,596		455,980		384,576		224,332		720,117		1,365,169		797		4,173,114
Commercial and industrial
	Current period gross charge-offs	—		—		(36)		—		(21)		—		(174)		(197)		(428)
	Current period recoveries	—		—		30		95		379		569		545		1,101		2,719
	Total net (charge-offs) recoveries	—		—		(6)		95		358		569		371		904		2,291
Real estate - commercial mortgage
	Pass	477,751		1,014,857		978,961		799,726		601,768		2,775,873		65,309		—		6,714,245
	Special Mention	336		32,783		43,579		97,163		45,601		153,027		1,994		—		374,483
	Substandard or Lower	—		1,510		8,335		37,106		75,075		205,826		456		—		328,308
	Total real estate - commercial mortgage	478,087		1,049,150		1,030,875		933,995		722,444		3,134,726		67,759		—		7,417,036
Real estate - commercial mortgage
	Current period gross charge-offs	—		—		—		—		—		—		—		(152)		(152)
	Current period recoveries	—		—		—		—		—		4		—		3,644		3,648
	Total net (charge-offs) recoveries	—		—		—		—		—		4		—		3,492		3,496
Total
	Pass	$	983,423	$	1,841,000	$	1,702,747	$	1,212,689	$	854,922	$	3,561,611	$	1,326,877	$	1,778	$	11,485,047
	Special Mention	7,151		45,932		55,667		116,990		51,528		195,027		67,722		—		540,017
	Substandard or Lower	—		7,131		17,619		65,496		89,990		243,725		67,681		73		491,715
	Total	$	990,574	$	1,894,063	$	1,776,033	$	1,395,175	$	996,440	$	4,000,363	$	1,462,280	$	1,851	$	12,516,779

(1) Excludes real estate - construction - other.

(2) Loans originated in 2021 and 2020 include $0.1 billion of PPP loans that were assigned a rating of Pass based on the existence of a federal government guaranty through the SBA.

The following table summarizes designated internal risk rating categories by portfolio segment and loan class, by origination year, in the prior period:


		December 31, 2021
		Term Loans Amortized Cost Basis by Origination Year												Revolving Loans		Revolving Loans converted to Term Loans
		(dollars in thousands)												Amortized		Amortized
		2021		2020		2019		2018		2017		Prior		Cost Basis		Cost Basis		Total
Real estate - construction(1)
	Pass	$	190,030	$	315,811	$	113,245	$	83,886	$	17,545	$	117,157	$	46,409	$	—	$	884,083
	Special Mention	5,843		775		9,984		20,200		15,724		6,315		—		—		58,841
	Substandard or Lower	—		—		—		—		1,912		4,185		227		—		6,324
	Total real estate - construction	195,873		316,586		123,229		104,086		35,181		127,657		46,636		—		949,248
Real estate - construction(1)
	Current period gross charge-offs	—		—		(39)		—		—		—		—		—		(39)
	Current period recoveries	—		—		39		—		—		1,373		—		—		1,412
	Total net (charge-offs) recoveries	—		—		—		—		—		1,373		—		—		1,373
Commercial and industrial(2)
	Pass	855,924		520,802		396,575		232,805		147,675		581,762		1,177,857		339		3,913,739
	Special Mention	5,386		8,538		33,937		8,301		10,346		23,380		52,386		95		142,369
	Substandard or Lower	1,225		9,775		19,393		24,327		11,912		34,825		49,562		1,200		152,219
	Total commercial and industrial	862,535		539,115		449,905		265,433		169,933		639,967		1,279,805		1,634		4,208,327
Commercial and industrial
	Current period gross charge-offs	(2,977)		(406)		(4,966)		(208)		(286)		(800)		(5,694)		—		(15,337)
	Current period recoveries	6		39		4,691		841		457		2,342		1,211		—		9,587
	Total net (charge-offs) recoveries	(2,971)		(367)		(275)		633		171		1,542		(4,483)		—		(5,750)
Real estate - commercial mortgage
	Pass	1,086,113		899,172		826,866		624,653		712,223		2,356,308		55,370		—		6,560,705
	Special Mention	1,317		60,732		96,508		25,280		33,595		169,732		115		—		387,279
	Substandard or Lower	1,537		8,516		28,810		68,818		69,793		151,450		684		1,488		331,096
	Total real estate - commercial mortgage	1,088,967		968,420		952,184		718,751		815,611		2,677,490		56,169		1,488		7,279,080
Real estate - commercial mortgage
	Current period gross charge-offs	—		—		(14)		(25)		(6,972)		(1,517)		(198)		—		(8,726)
	Current period recoveries	—		—		—		—		983		1,491		—		—		2,474
	Total net (charge-offs) recoveries	—		—		(14)		(25)		(5,989)		(26)		(198)		—		(6,252)
Total
	Pass	$	2,132,067	$	1,735,785	$	1,336,686	$	941,344	$	877,443	$	3,055,227	$	1,279,636	$	339	$	11,358,527
	Special Mention	12,546		70,045		140,429		53,781		59,665		199,427		52,501		95		588,489
	Substandard or Lower	2,762		18,291		48,203		93,145		83,617		190,460		50,473		2,688		489,639
	Total	$	2,147,375	$	1,824,121	$	1,525,318	$	1,088,270	$	1,020,725	$	3,445,114	$	1,382,610	$	3,122	$	12,436,655

(1) Excludes real estate - construction - other.

(2) Loans originated in 2021 and 2020 include $0.3 billion of PPP loans that were assigned a rating of Pass based on the existence of a federal government guaranty through the SBA.

The Corporation considers the performance of the loan portfolio and its impact on the ACL. 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 and the Corporation evaluates credit quality based on the aging status of the loan. The following tables present the amortized cost of these loans based on payment activity, by origination year, for the periods shown:


		June 30, 2022
		Term Loans Amortized Cost Basis by Origination Year												Revolving Loans		Revolving Loans converted to Term Loans
		(dollars in thousands)												Amortized		Amortized
		2022		2021		2020		2019		2018		Prior		Cost Basis		Cost Basis		Total
Consumer and real estate - home equity
	Performing	$	199,006	$	126,665	$	92,240	$	62,883	$	56,742	$	103,004	$	852,242	$	144,223	$	1,637,005
	Nonperforming	22		148		108		19		112		2,341		2,088		5,712		10,550
	Total consumer and real estate - home equity	199,028		126,813		92,348		62,902		56,854		105,345		854,330		149,935		1,647,555
Consumer and real estate - home equity
	Current period gross charge-offs	—		(587)		(70)		(108)		(16)		(355)		(77)		(716)		(1,929)
	Current period recoveries	—		44		88		29		16		351		144		544		1,216
	Total net (charge-offs) recoveries	—		(543)		18		(79)		—		(4)		67		(172)		(713)
Real estate - residential mortgage
	Performing	537,306		1,591,120		1,067,487		296,239		89,886		578,653		—		—		4,160,691
	Nonperforming	—		1,122		6,322		5,056		3,808		26,828		—		—		43,136
	Total real estate - residential mortgage	537,306		1,592,242		1,073,809		301,295		93,694		605,481		—		—		4,203,827
Real estate - residential mortgage
	Current period gross charge-offs	—		—		—		—		—		—		—		(66)		(66)
	Current period recoveries	—		—		4		—		27		261		—		22		314
	Total net (charge-offs) recoveries	—		—		4		—		27		261		—		(44)		248
Equipment lease financing and other
	Performing	126,093		49,563		50,710		37,619		24,936		21,218		—		—		310,139
	Nonperforming	—		—		—		—		—		14,062		—		—		14,062
	Total leasing and other	126,093		49,563		50,710		37,619		24,936		35,280		—		—		324,201
Equipment lease financing and other
	Current period gross charge-offs	—		—		—		—		—		(943)		—		—		(943)
	Current period recoveries	—		1		68		13		3		227		—		68		380
	Total net (charge-offs) recoveries	—		1		68		13		3		(716)		—		68		(563)
Construction - other
	Performing	61,082		162,281		22,426		—		4,580		—		—		448		250,817
	Nonperforming	—		—		—		—		—		—		—		—		—
	Total construction - other	61,082		162,281		22,426		—		4,580		—		—		448		250,817
Construction - other
	Current period gross charge-offs	—		—		—		—		—		—		—		—		—
	Current period recoveries	—		—		—		—		—		—		—		—		—
	Total net (charge-offs) recoveries	—		—		—		—		—		—		—		—		—
Total
	Performing	$	923,487	$	1,929,629	$	1,232,863	$	396,741	$	176,144	$	702,875	$	852,242	$	144,671	$	6,358,652
	Nonperforming	22		1,270		6,430		5,075		3,920		43,231		2,088		5,712		67,748
	Total	$	923,509	$	1,930,899	$	1,239,293	$	401,816	$	180,064	$	746,106	$	854,330	$	150,383	$	6,426,400


		December 31, 2021
		Term Loans Amortized Cost Basis by Origination Year												Revolving Loans		Revolving Loans converted to Term Loans
		(dollars in thousands)												Amortized		Amortized
		2021		2020		2019		2018		2017		Prior		Cost Basis		Cost Basis		Total
Consumer and Real estate - home equity
	Performing	$	162,441	$	102,918	$	73,769	$	68,564	$	33,254	$	135,412	$	990,842	$	3,999	$	1,571,199
	Nonperforming	122		101		60		51		314		2,348		8,512		198		11,706
	Total consumer and real estate - home equity	162,563		103,019		73,829		68,615		33,568		137,760		999,354		4,197		1,582,905
Consumer and Real estate - home equity
	Current period gross charge-offs	(175)		(491)		(496)		(238)		(224)		(411)		(1,274)		—		(3,309)
	Current period recoveries	—		223		131		131		167		1,048		645		—		2,345
	Total net (charge-offs) recoveries	(175)		(268)		(365)		(107)		(57)		637		(629)		—		(964)
Real estate - residential mortgage
	Performing	1,548,174		1,133,602		344,625		113,801		198,164		468,842		—		—		3,807,208
	Nonperforming	—		6,753		2,189		3,424		2,844		24,332		—		—		39,542
	Total real estate - residential mortgage	1,548,174		1,140,355		346,814		117,225		201,008		493,174		—		—		3,846,750
Real estate - residential mortgage
	Current period gross charge-offs	—		(626)		(148)		(125)		(4)		(387)		—		—		(1,290)
	Current period recoveries	—		—		1		18		—		264		92		—		375
	Total net (charge-offs) recoveries	—		(626)		(147)		(107)		(4)		(123)		92		—		(915)
Equipment lease financing and other
	Performing	97,077		65,316		49,591		34,107		22,444		1,369		—		—		269,904
	Nonperforming	—		—		—		—		15,503		138		—		—		15,641
	Total leasing and other	97,077		65,316		49,591		34,107		37,947		1,507		—		—		285,545
Equipment lease financing and other
	Current period gross charge-offs	(975)		(1,276)		—		—		—		—		—		—		(2,251)
	Current period recoveries	255		539		88		10		18		43		—		—		953
	Total net (charge-offs) recoveries	(720)		(737)		88		10		18		43		—		—		(1,298)
Construction - other
	Performing	144,652		40,040		638		5,028		—		—		—		—		190,358
	Nonperforming	—		—		—		—		173		—		—		—		173
	Total construction - other	144,652		40,040		638		5,028		173		—		—		—		190,531
Construction - other
	Current period gross charge-offs	—		—		—		—		—		—		—		—		—
	Current period recoveries	—		—		—		—		—		—		—		—		—
	Total net (charge-offs) recoveries	—		—		—		—		—		—		—		—		—
Total
	Performing	$	1,952,344	$	1,341,876	$	468,623	$	221,500	$	253,862	$	605,623	$	990,842	$	3,999	$	5,838,669
	Nonperforming	122		6,854		2,249		3,475		18,834		26,818		8,512		198		67,062
	Total	$	1,952,466	$	1,348,730	$	470,872	$	224,975	$	272,696	$	632,441	$	999,354	$	4,197	$	5,905,731

The following table presents non-performing assets:


	June 30, 2022		December 31, 2021
	(in thousands)
Non-accrual loans	$	162,530	$	143,666
Loans 90 days or more past due and still accruing(1)	11,016		8,453
Total non-performing loans	173,546		152,119
OREO (2)	4,786		1,817
Total non-performing assets	$	178,332	$	153,936

(1) Excludes PPP loans which are fully guaranteed by the federal government of $0.7 million as of June 30, 2022.

(2) Excludes $3.8 million and $6.4 million of residential mortgage properties for which formal foreclosure proceedings were in process as of June 30, 2022 and December 31, 2021, respectively.

The following tables present the aging of the amortized cost basis of loans, by class segment:


	30-59		60-89		≥ 90 Days
	Days Past		Days Past		Past Due		Non-
	Due		Due		and Accruing		Accrual		Current		Total
	(in thousands)
June 30, 2022
Real estate – commercial mortgage	$	5,486	$	3,219	$	375	$	59,565	$	7,348,391	$	7,417,036
Commercial and industrial(1)	11,197		1,417		1,022		43,691		4,115,787		4,173,114
Real estate – residential mortgage	31,221		5,796		7,337		35,585		4,123,888		4,203,827
Real estate – home equity	4,554		1,341		1,942		8,110		1,092,861		1,108,808
Real estate – construction	3,728		550		—		1,357		1,171,811		1,177,446
Consumer	4,963		1,081		340		160		532,203		538,747
Equipment lease financing and other	4,472		33		—		14,062		283,405		301,972
Total	$	65,621	$	13,437	$	11,016	$	162,530	$	18,668,346	$	18,920,950

(1) Delinquent PPP loans 30-59 days past due and 60-89 days past due of $7.9 million and $1.3 million, respectively, which are fully guaranteed by the federal government, are classified as current.


	30-59 Days Past Due		60-89 Days Past Due		≥ 90 Days Past Due and Accruing		Non- accrual		Current		Total
	(in thousands)
December 31, 2021
Real estate – commercial mortgage	$	1,089	$	1,750	$	1,229	$	52,815	$	7,222,197	$	7,279,080
Commercial and industrial	5,457		1,932		488		30,141		4,170,309		4,208,327
Real estate – residential mortgage	22,957		2,920		4,130		35,269		3,781,474		3,846,750
Real estate – home equity	4,369		1,154		2,253		8,671		1,101,801		1,118,248
Real estate – construction	1,318		—		—		901		1,137,560		1,139,779
Consumer	3,561		876		353		229		459,638		464,657
Equipment lease financing and other	226		27		—		15,640		252,616		268,509
Total	$	38,977	$	8,659	$	8,453	$	143,666	$	18,125,595	$	18,325,350

Collateral-Dependent Loans

A loan is considered to be collateral-dependent when the debtor is experiencing financial difficulty and repayment is expected to be provided substantially through the sale or operation of the collateral. For all classes of loans deemed collateral-dependent, the Corporation elected the practical expedient to estimate expected credit losses based on the collateral’s fair value less cost to sell. In most cases, the Corporation records a partial charge-off to reduce the loan’s carrying value to the collateral’s fair value less cost to sell. Substantially all of the collateral supporting collateral-dependent financial assets consists of various types of real estate, including residential properties, commercial properties, such as retail centers, office buildings, and lodging, agriculture land, and vacant land.

Troubled Debt Restructurings

Restructured loan modifications may include payment schedule modifications, interest rate concessions, bankruptcies, principal reduction or some combination of these concessions. The restructured loan modifications primarily included maturity date extensions, rate modifications and payment schedule modifications.

The following table presents TDRs, by class segment:


	June 30, 2022		December 31, 2021
	(in thousands)
Real estate - commercial mortgage	$	3,489	$	3,464
Commercial and industrial	1,871		1,857
Real estate - residential mortgage	10,279		11,948
Real estate - home equity	11,764		12,218

Consumer	2		5

Total accruing TDRs	27,405		29,492
Non-accrual TDRs (1)	45,439		55,945
Total TDRs	$	72,844	$	85,437

(1) Included in non-accrual loans in the preceding table detailing non-performing assets.

The following table presents TDRs, by class segment, for loans that were modified during the three and six months ended June 30, 2022 and 2021:


	Three months ended June 30						Six months ended June 30
	2022			2021			2022			2021
	Number of Loans	Post-Modification Recorded Investment		Number of Loans	Post-Modification Recorded Investment		Number of Loans	Post-Modification Recorded Investment		Number of Loans	Post-Modification Recorded Investment
	(dollars in thousands)
Commercial and industrial	—	$	—	—	$	—	1	$	82	4	$	1,894
Real estate - commercial mortgage	—	—		3	2,729		1	150		5	6,891
Real estate - residential mortgage	—	—		14	3,101		5	293		37	10,728

Real estate - home equity	—	—		11	598		5	329		16	746
Real estate - construction	—	—		—	—		—	—		1	154
Consumer	2	199		—	—		2	199		—	—
Total	2	$	199	28	$	6,428	14	$	1,053	63	$	20,413

In accordance with regulatory guidance, payment schedule modifications granted after March 13, 2020 to borrowers impacted by the effects of the COVID-19 pandemic and who were not delinquent at the time of the payment schedule modifications have been excluded from TDRs. As of June 30, 2022, $5.8 million in recorded investment remains in active COVID-19 deferral programs.