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Loans and Allowance for Credit Losses | 12 Months Ended
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Dec. 31, 2022
Receivables [Abstract] |
Loans and Allowance for Credit Losses |
NOTE 5 – LOANS AND ALLOWANCE FOR CREDIT LOSSES
Loans and leases, net of unearned income Loans and leases, net of unearned income are summarized as follows as of December 31:
| 2022 |  | 2021
| (dollars in thousands)
Real estate - commercial mortgage | $ | 7,693,835 |  |  | $ | 7,279,080 |
Commercial and industrial(1) | 4,477,537 |  |  | 4,208,327 |
Real-estate - residential mortgage | 4,737,279 |  |  | 3,846,750 |
Real-estate - home equity | 1,102,838 |  |  | 1,118,248 |
Real-estate - construction | 1,269,925 |  |  | 1,139,779 |
Consumer | 699,179 |  |  | 464,657 |
Equipment lease financing and other | 324,928 |  |  | 283,557 |
Overdrafts | 3,403 |  |  | 1,988 |
Gross loans | 20,308,924 |  |  | 18,342,386 |
Unearned income | (29,377) |  |  | (17,036) |
Net loans | $ | 20,279,547 |  |  | $ | 18,325,350 |
(1) Includes PPP loans totaling $20.4 million and $301.3 million as of December 31, 2022 and 2021 respectively. The Corporation has extended credit to officers and directors of the Corporation and to their associates. These related-party loans are made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with unrelated persons and do not involve more than the normal risk of collection or present other unfavorable features. The aggregate dollar amount of these loans, including unadvanced commitments, was $126.3 million and $129.6 million as of December 31, 2022 and 2021, respectively. During 2022, additions totaled $4.2 million and repayments totaled $7.5 million for related-party loans. Allowance for Credit Losses The ACL consists of loans evaluated collectively and individually for expected credit losses. The ACL 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 is increased by charges to expense, through the provision for credit losses, and decreased by charge-offs, net of recoveries. The reserve for OBS credit exposures includes estimated losses on unfunded loan commitments, letters of credit and other OBS credit exposures. The following table summarizes the ACL - loans balance and the reserve for OBS credit exposures balance as of December 31, 2022 and 2021:
| 2022 |  | 2021
| (dollars in thousands)
ACL - loans | $ | 269,366 |  |  | $ | 249,001 |
Reserve for OBS credit exposures(1) | $ | 16,328 |  |  | $ | 14,533 |
(1) Included in other liabilities on the Consolidated Balance Sheets. The following table presents the activity in the ACL - loans balances for the years ended December 31:
|  | 2022 |  | 2021 |  | 2020
| (dollars in thousands)
Balance at beginning of period |  | $ | 249,001 |  |  | $ | 277,567 |  |  | $ | 163,620 |
CECL Day 1 Provision expense |  | 7,954 |  |  | — |  |  | — |
Purchased credit deteriorated loans |  | 1,135 |  |  | — |  |  | — |
Impact of adopting CECL on January 1, 2020 |  | — |  |  | — |  |  | 45,724 |
Loans charged off |  | (21,472) |  |  | (30,952) |  |  | (30,557) |
Recoveries of loans previously charged off |  | 14,092 |  |  | 17,146 |  |  | 21,020 |
Net loans (charged-off) recovered |  | (7,380) |  |  | (13,806) |  |  | (9,537) |
Provision for credit losses |  | 18,656 |  |  | (14,760) |  |  | 77,760 |
Balance at the end of the period |  | $ | 269,366 |  |  | $ | 249,001 |  |  | $ | 277,567 |
Provision for OBS credit exposures |  | $ | 1,411 |  |  | $ | 160 |  |  | $ | (840) |
Reserve for OBS credit exposures |  | $ | 16,328 |  |  | $ | 14,533 |  |  | $ | 14,373 |
The following tables present the activity in the allowance for loan losses by portfolio segment for the years ended December 31, 2022 and 2021, by portfolio segment:
| Real Estate - Commercial Mortgage |  | Commercial and Industrial |  | Consumer and Real Estate - Home Equity |  | Real Estate - Residential Mortgage |  | Real Estate - Construction |  | Equipment Finance Leasing and Other |  | Total
| (dollars in thousands)
Balance at December 31, 2020 | $ | 103,425 |  |  | $ | 74,771 |  |  | $ | 25,137 |  |  | $ | 51,995 |  |  | $ | 15,608 |  |  | $ | 6,631 |  |  | $ | 277,567 |
Loans charged off | (8,726) |  |  | (15,337) |  |  | (3,309) |  |  | (1,290) |  |  | (39) |  |  | (2,251) |  |  | (30,952) |
Recoveries of loans previously charged off | 2,474 |  |  | 9,587 |  |  | 2,345 |  |  | 375 |  |  | 1,412 |  |  | 953 |  |  | 17,146 |
Net loans (charged off) recovered | (6,252) |  |  | (5,750) |  |  | (964) |  |  | (915) |  |  | 1,373 |  |  | (1,298) |  |  | (13,806) |
Provision for loan losses (1) | (9,203) |  |  | (1,965) |  |  | (4,424) |  |  | 3,156 |  |  | (4,040) |  |  | 1,716 |  |  | (14,760) |
Balance at December 31, 2021 | 87,970 |  |  | 67,056 |  |  | 19,749 |  |  | 54,236 |  |  | 12,941 |  |  | 7,049 |  |  | 249,001 |
CECL Day 1 Provision expense | 4,107 |  |  | — |  |  | 131 |  |  | 3,716 |  |  | — |  |  | — |  |  | 7,954 |
Initial purchased credit deteriorated loans | 1,051 |  |  | — |  |  | 7 |  |  | 77 |  |  | — |  |  | — |  |  | 1,135 |
Loans charged off | (12,473) |  |  | (2,390) |  |  | (4,412) |  |  | (66) |  |  | — |  |  | (2,131) |  |  | (21,472) |
Recoveries of loans previously charged off | 3,860 |  |  | 5,893 |  |  | 2,581 |  |  | 425 |  |  | 574 |  |  | 759 |  |  | 14,092 |
Net loans (charged off) recovered | (8,613) |  |  | 3,503 |  |  | (1,831) |  |  | 359 |  |  | 574 |  |  | (1,372) |  |  | (7,380) |
Provision for loan losses(1) | (15,059) |  |  | (443) |  |  | 8,373 |  |  | 24,862 |  |  | (2,772) |  |  | 3,695 |  |  | 18,656 |
Balance at December 31, 2022 | $ | 69,456 |  |  | $ | 70,116 |  |  | $ | 26,429 |  |  | $ | 83,250 |  |  | $ | 10,743 |  |  | $ | 9,372 |  |  | $ | 269,366 |
(1) Provision included in the table only includes the portion related to net loans The ACL - loans inc ludes 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 increase in ACL - loans in 2022 was related to loan growth and changes to the macroeconomic outlook. The impact from qualitative adjustments related to COVID-19 on the ACL - loans decreased in 2021 with the improvement in economic conditions. Non-accrual Loans All loans individually evaluated for impairment are measured for losses on a quarterly basis. As of December 31, 2022 and 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 December 31, 2022 and 2021, approximately 91% and 98%, respectively, of loans evaluated individually for impairment with principal balances greater than or equal to $1.0 million, whose primary collateral is 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:
| 2022 |  | 2021
| With a Related Allowance |  | Without a Related Allowance |  | Total |  | With a Related Allowance |  | Without a Related Allowance |  | Total
| (dollars in thousands)
Real estate - commercial mortgage | $ | 39,722 |  |  | $ | 30,439 |  |  | $ | 70,161 |  |  | $ | 20,564 |  |  | $ | 32,251 |  |  | $ | 52,815 |
Commercial and industrial | 14,804 |  |  | 12,312 |  |  | 27,116 |  |  | 12,571 |  |  | 17,570 |  |  | 30,141 |
Real estate - residential mortgage | 25,315 |  |  | 979 |  |  | 26,294 |  |  | 35,269 |  |  | — |  |  | 35,269 |
Real estate - home equity | 5,975 |  |  | 130 |  |  | 6,105 |  |  | 8,671 |  |  | — |  |  | 8,671 |
Real estate - construction | 866 |  |  | 502 |  |  | 1,368 |  |  | 173 |  |  | 728 |  |  | 901 |
Consumer | 92 |  |  | — |  |  | 92 |  |  | 229 |  |  | — |  |  | 229 |
Equipment lease financing and other | 4,052 |  |  | 9,255 |  |  | 13,307 |  |  | 6,247 |  |  | 9,393 |  |  | 15,640 |
Total | $ | 90,826 |  |  | $ | 53,617 |  |  | $ | 144,443 |  |  | $ | 83,724 |  |  | $ | 59,942 |  |  | $ | 143,666 |
As of December 31, 2022, there were $53.6 million 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. The amount of interest income on non-accrual loans that was recognized was approximately $2.2 million in 2022 and $1.3 million in 2021. 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 categories is a significant component of the ACL methodology for these loans, under both the CECL and incurred loss models, 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 categories by portfolio segment and loan class, by origination year, in the current period:
|  | December 31, 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 - commercial mortgage |  |  |  |  |  |  |  |
| Pass | $ | 1,014,575 |  | $ | 1,095,725 |  | $ | 969,118 |  | $ | 810,850 |  | $ | 621,689 |  | $ | 2,610,511 |  | $ | 80,665 |  | $ | 307 |  | $ | 7,203,440 |
| Special Mention | 95 |  | 50,367 |  | 23,296 |  | 33,735 |  | 16,205 |  | 181,736 |  | 947 |  | — |  | 306,381 |
| Substandard or Lower | 1,032 |  | 3,039 |  | 31,042 |  | 38,378 |  | 23,112 |  | 87,168 |  | 243 |  | — |  | 184,014 |
| Total real estate - commercial mortgage | 1,015,702 |  | 1,149,131 |  | 1,023,456 |  | 882,963 |  | 661,006 |  | 2,879,415 |  | 81,855 |  | 307 |  | 7,693,835 |
Real estate - commercial mortgage |  |  |  |  |  |  |  |
| Current period gross charge-offs | — |  | — |  | — |  | — |  | — |  | (53) |  | — |  | (12,420) |  | (12,473) |
| Current period recoveries | — |  | — |  | — |  | — |  | — |  | 4 |  | — |  | 3,856 |  | 3,860 |
| Total net (charge-offs) recoveries | — |  | — |  | — |  | — |  | — |  | (49) |  | — |  | (8,564) |  | (8,613) |
Commercial and industrial(2) |  |  |  |  |  |  |  |
| Pass | 907,390 |  | 449,145 |  | 397,881 |  | 315,605 |  | 185,096 |  | 604,352 |  | 1,387,961 |  | 618 |  | 4,248,048 |
| Special Mention | 11,405 |  | 24,479 |  | 3,763 |  | 8,147 |  | 5,218 |  | 24,633 |  | 56,048 |  | 250 |  | 133,943 |
| Substandard or Lower | 834 |  | 418 |  | 4,818 |  | 13,044 |  | 3,081 |  | 22,025 |  | 51,077 |  | 249 |  | 95,546 |
| Total commercial and industrial | 919,629 |  | 474,042 |  | 406,462 |  | 336,796 |  | 193,395 |  | 651,010 |  | 1,495,086 |  | 1,117 |  | 4,477,537 |
Commercial and industrial |  |  |  |  |  |  |  |
| Current period gross charge-offs | — |  | — |  | (36) |  | — |  | (21) |  | (365) |  | (1,192) |  | (776) |  | (2,390) |
| Current period recoveries | — |  | — |  | 30 |  | 95 |  | 379 |  | 1,740 |  | 811 |  | 2,838 |  | 5,893 |
| Total net (charge-offs) recoveries | — |  | — |  | (6) |  | 95 |  | 358 |  | 1,375 |  | (381) |  | 2,062 |  | 3,503 |
Real estate - construction(1) |  |  |  |  |  |  |  |  |
| Pass | 159,195 |  | 390,993 |  | 243,406 |  | 28,539 |  | 24,421 |  | 93,511 |  | 47,271 |  | — |  | 987,336 |
| Special Mention | — |  | — |  | — |  | — |  | — |  | 21,603 |  | — |  | — |  | 21,603 |
| Substandard or Lower | — |  | — |  | 3,852 |  | 2,274 |  | — |  | 4,272 |  | 203 |  | — |  | 10,601 |
| Total real estate - construction | 159,195 |  | 390,993 |  | 247,258 |  | 30,813 |  | 24,421 |  | 119,386 |  | 47,474 |  | — |  | 1,019,540 |
Real estate - construction(1) |  |  |  |  |  |  |  |
| Current period gross charge-offs | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
| Current period recoveries | — |  | — |  | — |  | — |  | — |  | 527 |  | — |  | 47 |  | 574 |
| Total net (charge-offs) recoveries | — |  | — |  | — |  | — |  | — |  | 527 |  | — |  | 47 |  | 574 |
Total |  |  |  |  |  |  |  |
| Pass | $ | 2,081,160 |  | $ | 1,935,863 |  | $ | 1,610,405 |  | $ | 1,154,994 |  | $ | 831,206 |  | $ | 3,308,374 |  | $ | 1,515,897 |  | $ | 925 |  | $ | 12,438,824 |
| Special Mention | 11,500 |  | 74,846 |  | 27,059 |  | 41,882 |  | 21,423 |  | 227,972 |  | 56,995 |  | 250 |  | 461,927 |
| Substandard or Lower | 1,866 |  | 3,457 |  | 39,712 |  | 53,696 |  | 26,193 |  | 113,465 |  | 51,523 |  | 249 |  | 290,161 |
| Total | $ | 2,094,526 |  | $ | 2,014,166 |  | $ | 1,677,176 |  | $ | 1,250,572 |  | $ | 878,822 |  | $ | 3,649,811 |  | $ | 1,624,415 |  | $ | 1,424 |  | $ | 13,190,912 |
(1) Excludes real estate - construction - other. (2) Loans originated in 2022 include $20.4 million 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 - 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) |
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 - 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 |
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 $301.3 million 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 table presents the amortized cost of these loans based on payment activity, by origination year, for the current period:
|  | December 31, 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 - residential mortgage |  |  |  |  |  |  |  |  |
| Performing | $ | 933,903 |  | $ | 1,708,703 |  | $ | 1,054,126 |  | $ | 286,167 |  | $ | 87,455 |  | $ | 620,416 |  | $ | — |  | $ | — |  | $ | 4,690,770 |
| Non-performing | 1,199 |  | 5,104 |  | 6,597 |  | 6,466 |  | 4,587 |  | 22,556 |  | — |  | — |  | 46,509 |
| Total real estate - residential mortgage | 935,102 |  | 1,713,807 |  | 1,060,723 |  | 292,633 |  | 92,042 |  | 642,972 |  | — |  | — |  | 4,737,279 |
Real estate - residential mortgage |  |  |  |  |  |  |  |  |
| Current period gross charge-offs | — |  | — |  | — |  | — |  | — |  | — |  | — |  | (66) |  | (66) |
| Current period recoveries | — |  | — |  | 4 |  | — |  | 27 |  | 261 |  | — |  | 133 |  | 425 |
| Total net (charge-offs) recoveries | — |  | — |  | 4 |  | — |  | 27 |  | 261 |  | — |  | 67 |  | 359 |
Consumer and real estate - home equity |  |  |  |  |  |  |  |
| Performing | 416,631 |  | 109,724 |  | 80,422 |  | 52,384 |  | 45,642 |  | 211,127 |  | 842,226 |  | 34,061 |  | 1,792,217 |
| Non-performing | 292 |  | 298 |  | 174 |  | 36 |  | 98 |  | 6,512 |  | 1,722 |  | 668 |  | 9,800 |
| Total real estate - home equity | 416,923 |  | 110,022 |  | 80,596 |  | 52,420 |  | 45,740 |  | 217,639 |  | 843,948 |  | 34,729 |  | 1,802,017 |
Consumer and real estate - home equity |  |  |  |  |  |  |  |
| Current period gross charge-offs | — |  | (587) |  | (70) |  | (108) |  | (16) |  | (442) |  | (178) |  | (3,011) |  | (4,412) |
| Current period recoveries | — |  | 44 |  | 88 |  | 29 |  | 16 |  | 595 |  | 294 |  | 1,515 |  | 2,581 |
| Total net (charge-offs) recoveries | — |  | (543) |  | 18 |  | (79) |  | — |  | 153 |  | 116 |  | (1,496) |  | (1,831) |
Construction - other |  |  |  |  |  |  |  |  |
| Performing | 164,924 |  | 73,492 |  | 10,892 |  | — |  | 1,077 |  | — |  | — |  | — |  | 250,385 |
| Non-performing | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
| Total construction - other | 164,924 |  | 73,492 |  | 10,892 |  | — |  | 1,077 |  | — |  | — |  | — |  | 250,385 |
Construction - other |  |  |  |  |  |  |  |  |
| Current period gross charge-offs | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
| Current period recoveries | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
| Total net (charge-offs) recoveries | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Equipment lease financing and other |  |  |  |  |  |  |  |  |
| Performing | 146,198 |  | 39,427 |  | 40,024 |  | 29,309 |  | 15,019 |  | 15,670 |  | — |  | — |  | 285,647 |
| Non-performing | — |  | — |  | — |  | — |  | — |  | 13,307 |  | — |  | — |  | 13,307 |
| Total leasing and other | 146,198 |  | 39,427 |  | 40,024 |  | 29,309 |  | 15,019 |  | 28,977 |  | — |  | — |  | 298,954 |
Equipment lease financing and other |  |  |  |  |  |  |  |  |
| Current period gross charge-offs | (506) |  | (167) |  | (140) |  | (80) |  | (47) |  | (1,191) |  | — |  | — |  | (2,131) |
| Current period recoveries | 63 |  | 18 |  | 82 |  | 25 |  | 10 |  | 268 |  | — |  | 293 |  | 759 |
| Total net (charge-offs) recoveries | (443) |  | (149) |  | (58) |  | (55) |  | (37) |  | (923) |  | — |  | 293 |  | (1,372) |
Total |  |  |  |  |  |  |  |  |
| Performing | $ | 1,661,656 |  | $ | 1,931,346 |  | $ | 1,185,464 |  | $ | 367,860 |  | $ | 149,193 |  | $ | 847,213 |  | $ | 842,226 |  | $ | 34,061 |  | $ | 7,019,019 |
| Non-performing | 1,491 |  | 5,402 |  | 6,771 |  | 6,502 |  | 4,685 |  | 42,375 |  | 1,722 |  | 668 |  | 69,616 |
| Total | $ | 1,663,147 |  | $ | 1,936,748 |  | $ | 1,192,235 |  | $ | 374,362 |  | $ | 153,878 |  | $ | 889,588 |  | $ | 843,948 |  | $ | 34,729 |  | $ | 7,088,635 |
|  | 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 - residential mortgage |  |  |  |  |  |  |  |  |
| Performing | $ | 1,548,174 |  | $ | 1,133,602 |  | $ | 344,625 |  | $ | 113,801 |  | $ | 198,164 |  | $ | 468,842 |  | $ | — |  | $ | — |  | $ | 3,807,208 |
| Non-performing | — |  | 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) |
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 |
| Non-performing | 122 |  | 101 |  | 60 |  | 51 |  | 314 |  | 2,348 |  | 8,512 |  | 198 |  | 11,706 |
| Total real estate - home equity | 162,563 |  | 103,019 |  | 73,829 |  | 68,615 |  | 33,568 |  | 137,760 |  | 999,354 |  | 4,197 |  | 1,582,905 |
Consumer 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) |
Construction - other |  |  |  |  |  |  |  |  |
| Performing | 144,652 |  | 40,040 |  | 638 |  | 5,028 |  | — |  | — |  | — |  | — |  | 190,358 |
| Non-performing | — |  | — |  | — |  | — |  | 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 | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Equipment lease financing and other |  |  |  |  |  |  |  |  |
| Performing | 97,077 |  | 65,316 |  | 49,591 |  | 34,107 |  | 22,444 |  | 1,369 |  | — |  | — |  | 269,904 |
| Non-performing | — |  | — |  | — |  | — |  | 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) |
Total |  |  |  |  |  |  |  |  |
| Performing | $ | 1,952,344 |  | $ | 1,341,876 |  | $ | 468,623 |  | $ | 221,500 |  | $ | 253,862 |  | $ | 605,623 |  | $ | 990,842 |  | $ | 3,999 |  | $ | 5,838,669 |
| Non-performing | 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:
| December 31, 2022 |  | December 31, 2021
| (dollars in thousands)
Non-accrual loans | $ | 144,443 |  |  | $ | 143,666 |
Loans 90 days or more past due and still accruing(1) | 27,463 |  |  | 8,453 |
Total non-performing loans | 171,906 |  |  | 152,119 |
OREO(2) | 5,790 |  |  | 1,817 |
Total non-performing assets | $ | 177,696 |  |  | $ | 153,936 |
(1) Excludes PPP loans which are fully guaranteed by the federal government of $7.7 million as of December 31, 2022. (2) Excludes $6.0 million of residential mortgage properties for which formal foreclosure proceedings were in process as of December 31, 2022. 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
| (dollars in thousands)
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |
Real estate – commercial mortgage | $ | 10,753 |  |  | $ | 4,644 |  |  | $ | 2,473 |  |  | $ | 70,161 |  |  | $ | 7,605,804 |  |  | $ | 7,693,835 |
Commercial and industrial(1) | 6,067 |  |  | 2,289 |  |  | 1,172 |  |  | 27,116 |  |  | 4,440,893 |  |  | 4,477,537 |
Real estate – residential mortgage | 57,061 |  |  | 8,209 |  |  | 20,215 |  |  | 26,294 |  |  | 4,625,500 |  |  | 4,737,279 |
Real estate – home equity | 5,666 |  |  | 2,444 |  |  | 2,704 |  |  | 6,105 |  |  | 1,085,919 |  |  | 1,102,838 |
Real estate – construction | 1,762 |  |  | 1,758 |  |  | — |  |  | 1,368 |  |  | 1,265,037 |  |  | 1,269,925 |
Consumer | 6,692 |  |  | 1,339 |  |  | 899 |  |  | 92 |  |  | 690,157 |  |  | 699,179 |
Equipment lease financing and other | 348 |  |  | 122 |  |  | — |  |  | 13,307 |  |  | 285,177 |  |  | 298,954 |
Total | $ | 88,349 |  |  | $ | 20,805 |  |  | $ | 27,463 |  |  | $ | 144,443 |  |  | $ | 19,998,487 |  |  | $ | 20,279,547 |
(1) Excludes delinquent PPP loans 30-59 days past due, 60-89 days and 90 days or more pa st due of $0.1 million, $0.7 million and $7.7 million, re spectively, which are fully guaranteed by the federal government.
| 30-59 Days Past Due |  | 60-89 Days Past Due |  | ≥ 90 Days Past Due and Accruing |  | Non- accrual |  | Current |  | Total
| (dollars 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 financial asset 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 financial assets 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 The following table presents TDRs, by class segment for the years ended December 31:
| 2022 |  | 2021
| (dollars in thousands)
Real estate - commercial mortgage | $ | 3,255 |  |  | $ | 3,464 |
Commercial and industrial | 1,809 |  |  | 1,857 |
Real estate - residential mortgage | 13,804 |  |  | 11,948 |
Real estate - home equity | 10,717 |  |  | 12,218 |
Consumer | — |  |  | 5 |
Total accruing TDRs | 29,585 |  |  | 29,492 |
Non-accrual TDRs(1) | 31,853 |  |  | 55,945 |
Total TDRs | $ | 61,438 |  |  | $ | 85,437 |
(1) Included within non-accrual loans in the preceding table. The following table presents TDRs, by class segment, for loans that were modified during the years ended December 31:
| 2022 |  | 2021 |  | 2020
Number of Loans |  | Post-Modification Recorded Investment |  | Number of Loans |  | Post-Modification Recorded Investment |  | Number of Loans |  | Post-Modification Recorded Investment
| (dollars in thousands)
Real estate - commercial mortgage | 1 |  |  | $ | 150 |  |  | 9 |  |  | $ | 16,020 |  |  | 12 |  |  | $ | 24,868 |
Commercial and industrial | 1 |  |  | 82 |  |  | 10 |  |  | 2,823 |  |  | 20 |  |  | 5,218 |
Real estate - residential mortgage | 5 |  |  | 293 |  |  | 46 |  |  | 13,256 |  |  | 48 |  |  | 10,493 |
Real estate - home equity | 5 |  |  | 329 |  |  | 30 |  |  | 1,226 |  |  | 48 |  |  | 4,359 |
Real estate - construction | — |  |  | — |  |  | 1 |  |  | 154 |  |  | — |  |  | — |
Consumer | 13 |  |  | 792 |  |  | — |  |  | — |  |  | 14 |  |  | 345 |
Total | 25 |  |  | $ | 1,646 |  |  | 96 |  |  | $ | 33,479 |  |  | 142 |  |  | $ | 45,283 |
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. In accordance with regulatory guidance, payment schedule modifications granted after March 13, 2020 to borrowers impacted by the effects of COVID-19 and who are not delinquent at the time of the payment schedule modifications have been excluded from TDRs. As of December 31, 2022, $3.4 million in recorded investment remain in an active COVID-19 deferral program.

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI https://asc.fasb.org/subtopic&trid=2196772 + Details
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