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Loans and Allowance for Credit Losses (Tables)
6 Months Ended
Jun. 30, 2022
Receivables [Abstract]  
Summary of Gross Loans by Type
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 mortgage4,203,827 3,846,750 
Real-estate - home equity1,108,808 1,118,248 
Real-estate - construction1,177,446 1,139,779 
Consumer538,747 464,657 
Equipment lease financing and other321,855 283,557 
Overdrafts2,346 1,988 
Gross loans18,943,179 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.
Schedule of Allowance for Credit Losses
The following table presents the components of the ACL:
June 30, 2022December 31, 2021
(in thousands)
ACL - loans $248,564 $249,001 
ACL - OBS credit exposure14,323 14,533 
        Total ACL$262,887 $263,534 
Activity in the Allowance for Credit Losses
The following table presents the activity in the ACL:
Three months ended June 30Six months ended June 30
 2022202120222021
(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 off5,367 2,568 8,321 4,589 
Net loans (charged-off) recovered3,749 (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 off3,536 739 762 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 off729 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 off3,648 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 off903 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.
Total Impaired Loans by Class Segment
The following table presents total non-accrual loans, by class segment:
June 30, 2022December 31, 2021
With a Related AllowanceWithout a Related AllowanceTotalWith a Related AllowanceWithout a Related AllowanceTotal
(in thousands)
Real estate - commercial mortgage$18,035 $41,530 $59,565 $20,564 $32,251 $52,815 
Commercial and industrial13,593 30,098 43,691 12,571 17,570 30,141 
Real estate - residential mortgage34,390 1,195 35,585 35,269 — 35,269 
Real estate - home equity7,974 136 8,110 8,671 — 8,671 
Real estate - construction 1,357 1,357 173 728 901 
Consumer160  160 229 — 229 
Equipment lease financing and other4,807 9,255 14,062 6,247 9,393 15,640 
$78,959 $83,571 $162,530 $83,724 $59,942 $143,666 
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:
June 30, 2022
Term Loans Amortized Cost Basis by Origination YearRevolving LoansRevolving Loans converted to Term Loans
(dollars in thousands)AmortizedAmortized
20222021202020192018PriorCost BasisCost BasisTotal
 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 - construction42,940 292,317 289,178 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)
Pass462,732 533,826 436,620 346,343 203,490 665,347 1,232,430 724 3,881,512 
Special Mention6,815 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 industrial469,547 552,596 455,980 384,576 224,332 720,117 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
Pass477,751 1,014,857 978,961 799,726 601,768 2,775,873 65,309 — 6,714,245 
Special Mention336 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 mortgage478,087 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— — — — — — 3,644 3,648 
Total net (charge-offs) recoveries— — — — — — 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 Mention7,151 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 YearRevolving LoansRevolving Loans converted to Term Loans
(dollars in thousands)AmortizedAmortized
20212020201920182017PriorCost BasisCost BasisTotal
 Real estate - construction(1)
Pass$190,030 $315,811 $113,245 $83,886 $17,545 $117,157 $46,409 $— $884,083 
Special Mention5,843 775 9,984 20,200 15,724 6,315 — — 58,841 
Substandard or Lower— — — — 1,912 4,185 227 — 6,324 
Total real estate - construction195,873 316,586 123,229 104,086 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)
Pass855,924 520,802 396,575 232,805 147,675 581,762 1,177,857 339 3,913,739 
Special Mention5,386 8,538 33,937 8,301 10,346 23,380 52,386 95 142,369 
Substandard or Lower1,225 9,775 19,393 24,327 11,912 34,825 49,562 1,200 152,219 
Total commercial and industrial862,535 539,115 449,905 265,433 169,933 639,967 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 recoveries39 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
Pass1,086,113 899,172 826,866 624,653 712,223 2,356,308 55,370 — 6,560,705 
Special Mention1,317 60,732 96,508 25,280 33,595 169,732 115 — 387,279 
Substandard or Lower1,537 8,516 28,810 68,818 69,793 151,450 684 1,488 331,096 
Total real estate - commercial mortgage1,088,967 968,420 952,184 718,751 815,611 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 Mention12,546 70,045 140,429 53,781 59,665 199,427 52,501 95 588,489 
Substandard or Lower2,762 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 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 YearRevolving LoansRevolving Loans converted to Term Loans
(dollars in thousands)AmortizedAmortized
20222021202020192018PriorCost BasisCost BasisTotal
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 
Nonperforming22 148 108 19 112 2,341 2,088 5,712 10,550 
Total consumer and real estate - home equity199,028 126,813 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
Performing537,306 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 mortgage537,306 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— — — 27 261 — 22 314 
Total net (charge-offs) recoveries— — — 27 261 — (44)248 
Equipment lease financing and other
Performing126,093 49,563 50,710 37,619 24,936 21,218 — — 310,139 
Nonperforming— — — — — 14,062 — — 14,062 
Total leasing and other126,093 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— 68 13 227 — 68 380 
Total net (charge-offs) recoveries— 68 13 (716)— 68 (563)
Construction - other
Performing61,082 162,281 22,426 — 4,580 — — 448 250,817 
Nonperforming— — — — — — — — — 
Total construction - other61,082 162,281 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 
Nonperforming22 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 YearRevolving LoansRevolving Loans converted to Term Loans
(dollars in thousands)AmortizedAmortized
20212020201920182017PriorCost BasisCost BasisTotal
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 
Nonperforming122 101 60 51 314 2,348 8,512 198 11,706 
Total consumer and real estate - home equity162,563 103,019 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
Performing1,548,174 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 mortgage1,548,174 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— — 18 — 264 92 — 375 
Total net (charge-offs) recoveries— (626)(147)(107)(4)(123)92 — (915)
Equipment lease financing and other
Performing97,077 65,316 49,591 34,107 22,444 1,369 — — 269,904 
Nonperforming— — — — 15,503 138 — — 15,641 
Total leasing and other97,077 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 recoveries255 539 88 10 18 43 — — 953 
Total net (charge-offs) recoveries(720)(737)88 10 18 43 — — (1,298)
Construction - other
Performing144,652 40,040 638 5,028 — — — — 190,358 
Nonperforming— — — — 173 — — — 173 
Total construction - other144,652 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 
Nonperforming122 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 
Non-Performing Assets
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 loans173,546 152,119 
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.
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)
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 mortgage31,221 5,796 7,337 35,585 4,123,888 4,203,827 
Real estate – home equity4,554 1,341 1,942 8,110 1,092,861 1,108,808 
Real estate – construction3,728 550  1,357 1,171,811 1,177,446 
Consumer4,963 1,081 340 160 532,203 538,747 
Equipment lease financing and other4,472 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
CurrentTotal
(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 industrial5,457 1,932 488 30,141 4,170,309 4,208,327 
Real estate – residential mortgage22,957 2,920 4,130 35,269 3,781,474 3,846,750 
Real estate – home equity4,369 1,154 2,253 8,671 1,101,801 1,118,248 
Real estate – construction1,318 — — 901 1,137,560 1,139,779 
Consumer3,561 876 353 229 459,638 464,657 
Equipment lease financing and other226 27 — 15,640 252,616 268,509 
Total$38,977 $8,659 $8,453 $143,666 $18,125,595 $18,325,350 
Troubled Debt Restructurings on Financing Receivables
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 industrial1,871 1,857 
Real estate - residential mortgage10,279 11,948 
Real estate - home equity11,764 12,218 
Consumer2 
Total accruing TDRs27,405 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.
Loan Terms Modified Under Troubled Debt Restructurings
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 30Six months ended June 30
2022202120222021
Number of LoansPost-Modification Recorded InvestmentNumber of LoansPost-Modification Recorded InvestmentNumber of LoansPost-Modification Recorded InvestmentNumber of LoansPost-Modification Recorded Investment
(dollars in thousands)
Commercial and industrial $ — $— 1 $82 $1,894 
Real estate - commercial mortgage  2,729 1 150 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  — —   154 
Consumer2 199 — — 2 199 — — 
Total
2 $199 28 $6,428 14 $1,053 63 $20,413