XML 39 R26.htm IDEA: XBRL DOCUMENT v3.23.1
Loans and Allowance for Credit Losses (Tables)
3 Months Ended
Mar. 31, 2023
Receivables [Abstract]  
Summary of Gross Loans by Type
Loans and leases, net of unearned income are summarized as follows:
March 31,
2023
December 31, 2022
 (dollars in thousands)
Real estate - commercial mortgage$7,746,920 $7,693,835 
Commercial and industrial4,600,696 4,477,537 
Real-estate - residential mortgage4,880,919 4,737,279 
Real-estate - home equity1,074,712 1,102,838 
Real-estate - construction1,326,754 1,269,925 
Consumer730,775 699,179 
Leases and other loans340,595 328,331 
Gross loans20,701,371 20,308,924 
Unearned income(31,183)(29,377)
Net loans$20,670,188 $20,279,547 
Schedule of Allowance for Credit Losses :
March 31, 2023December 31, 2022
(dollars in thousands)
ACL - loans $278,695 $269,366 
Reserve for OBS credit exposures(1)
$17,539 $16,328 
(1) Included in other liabilities on the consolidated balance sheets.
Activity in the Allowance for Credit Losses :
Three months ended March 31
 20232022
(dollars in thousands)
Balance at beginning of period$269,366 $249,001 
Loans charged off(16,903)(1,900)
Recoveries of loans previously charged off2,899 2,954 
Net loans (charged-off) recovered(14,004)1,054 
Provision for credit losses23,333 (6,350)
Balance at end of period$278,695 $243,705 
Provision for OBS credit exposures$1,211 $(600)
Reserve for OBS credit exposures$17,539 $13,933 

The following table presents the activity in the ACL by portfolio segment:
Real Estate 
Commercial
Mortgage
Commercial and
Industrial
Real Estate Residential
Mortgage
Consumer and Home
Equity
Real Estate
Construction
Leases and other loansTotal
 (dollars in thousands)
Three months ended March 31, 2023
Balance at December 31, 2022$69,456 $70,116 $83,250 $26,429 $10,743 $9,372 $269,366 
Loans charged off(13,362)(612) (2,206) (723)(16,903)
Recoveries of loans previously charged off786 1,086 48 661 202 116 2,899 
Net loans (charged off) recovered(12,576)474 48 (1,545)202 (607)(14,004)
Provision for loan losses(1)
9,376 6,536 2,911 2,419 701 1,390 23,333 
Balance at March 31, 2023$66,256 $77,126 $86,209 $27,303 $11,646 $10,155 $278,695 
Three months ended March 31, 2022
Balance at December 31, 2021$87,970 $67,056 $54,236 $19,749 $12,941 $7,049 $249,001 
Loans charged off(152)(227)— (1,052)— (469)(1,900)
Recoveries of loans previously charged off112 1,980 222 454 32 154 2,954 
Net loans (charged off) recovered(40)1,753 222 (598)32 (315)1,054 
Provision for loan and lease losses(1)
(8,077)(2,298)1,434 1,062 330 1,199 (6,350)
Balance at March 31, 2022$79,853 $66,511 $55,892 $20,213 $13,303 $7,933 $243,705 
(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, 2023December 31, 2022
With a Related AllowanceWithout a Related AllowanceTotalWith a Related AllowanceWithout a Related AllowanceTotal
(dollars in thousands)
Real estate - commercial mortgage$18,878 $39,531 $58,409 $39,722 $30,439 $70,161 
Commercial and industrial16,090 15,789 31,879 14,804 12,312 27,116 
Real estate - residential mortgage23,450 977 24,427 25,315 979 26,294 
Real estate - home equity5,912 122 6,034 5,975 130 6,105 
Real estate - construction831 447 1,278 866 502 1,368 
Consumer25  25 92 — 92 
Leases and other loans2,995 9,256 12,251 4,052 9,255 13,307 
$68,181 $66,122 $134,303 $90,826 $53,617 $144,443 
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, 2023
Term Loans Amortized Cost Basis by Origination YearRevolving LoansRevolving Loans converted to Term Loans
(in thousands)AmortizedAmortized
20232022202120202019PriorCost BasisCost BasisTotal
Real estate - commercial mortgage
Pass$173,387 $1,015,881 $1,077,823 $943,188 $799,374 $3,170,784 $73,033 $305 $7,253,775 
Special Mention— 14,438 65,362 19,804 34,352 169,568 2,728 — 306,252 
Substandard or Lower— 2,668 19,190 48,655 24,531 91,606 243 — 186,893 
Total real estate - commercial mortgage173,387 1,032,987 1,162,375 1,011,647 858,257 3,431,958 76,004 305 7,746,920 
Real estate - commercial mortgage
Current period gross charge-offs— — — — — (30)— (13,332)(13,362)
Commercial and industrial(1)
Pass379,383 689,276 444,738 379,630 301,392 748,118 1,394,101 6,517 4,343,155 
Special Mention150 17,426 16,457 4,958 9,500 31,125 65,596 243 145,455 
Substandard or Lower206 1,259 754 4,001 13,042 22,863 69,675 286 112,086 
Total commercial and industrial379,739 707,961 461,949 388,589 323,934 802,106 1,529,372 7,046 4,600,696 
Commercial and industrial(1)
Current period gross charge-offs— — — — — — (53)(559)(612)
 Real estate - construction(2)
Pass49,829 165,351 425,549 218,594 23,387 103,958 39,917 — 1,026,585 
Special Mention— 1,218 — — — 29,283 — — 30,501 
Substandard or Lower— 305 2,079 — 2,238 4,148 2,284 — 11,054 
Total real estate - construction49,829 166,874 427,628 218,594 25,625 137,389 42,201 — 1,068,140 
Real estate - construction(2)
Current period gross charge-offs— — — — — — — — — 
Total
Pass$602,599 $1,870,508 $1,948,110 $1,541,412 $1,124,153 $4,022,860 $1,507,051 $6,822 $12,623,515 
Special Mention150 33,082 81,819 24,762 43,852 229,976 68,324 243 482,208 
Substandard or Lower206 4,232 22,023 52,656 39,811 118,617 72,202 286 310,033 
Total$602,955 $1,907,822 $2,051,952 $1,618,830 $1,207,816 $4,371,453 $1,647,577 $7,351 $13,415,756 
(1) Loans originated in 2021 and 2020 include $9.8 million of PPP loans that were assigned a rating of Pass based on the existence of a federal government guaranty through the SBA.
(2) Excludes real estate - construction - other.
The following table summarizes designated internal risk rating categories by portfolio segment and loan class, by origination year, in the prior period:
December 31, 2022
Term Loans Amortized Cost Basis by Origination YearRevolving LoansRevolving Loans converted to Term Loans
(dollars in thousands)AmortizedAmortized
20222021202020192018PriorCost BasisCost BasisTotal
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 Mention95 50,367 23,296 33,735 16,205 181,736 947 — 306,381 
Substandard or Lower1,032 3,039 31,042 38,378 23,112 87,168 243 — 184,014 
Total real estate - commercial mortgage1,015,702 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)
Commercial and industrial(1)
Pass907,390 449,145 397,881 315,605 185,096 604,352 1,387,961 618 4,248,048 
Special Mention11,405 24,479 3,763 8,147 5,218 24,633 56,048 250 133,943 
Substandard or Lower834 418 4,818 13,044 3,081 22,025 51,077 249 95,546 
Total commercial and industrial919,629 474,042 406,462 336,796 193,395 651,010 1,495,086 1,117 4,477,537 
Commercial and industrial(1)
Current period gross charge-offs— — (36)— (21)(365)(1,192)(776)(2,390)
Real estate - construction(2)
Pass159,195 390,993 243,406 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 - construction159,195 390,993 247,258 30,813 24,421 119,386 47,474 — 1,019,540 
Real estate - construction(2)
Current period gross charge-offs— — — — — — — — — 
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 Mention11,500 74,846 27,059 41,882 21,423 227,972 56,995 250 461,927 
Substandard or Lower1,866 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) Loans originated in 2021 and 2020 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.
(2) 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, 2023
Term Loans Amortized Cost Basis by Origination YearRevolving LoansRevolving Loans converted to Term Loans
(dollars in thousands)AmortizedAmortized
20232022202120202019PriorCost BasisCost BasisTotal
Real estate - residential mortgage
Performing$139,551 $961,137 $1,732,158 $1,041,054 $282,030 $678,413 $— $— $4,834,343 
Nonperforming— 706 6,089 7,630 5,335 26,816 — — 46,576 
    Total real estate - residential mortgage139,551 961,843 1,738,247 1,048,684 287,365 705,229 — — 4,880,919 
Real estate - residential mortgage
Current period gross charge-offs— — — — — — — — — 
Consumer and real estate - home equity
Performing148,247 309,812 95,136 66,377 49,877 162,289 947,347 17,419 1,796,504 
Nonperforming— 204 155 67 31 2,013 6,460 53 8,983 
Total consumer and real estate - home equity148,247 310,016 95,291 66,444 49,908 164,302 953,807 17,472 1,805,487 
Consumer and real estate - home equity
Current period gross charge-offs— — — — — (325)— (1,881)(2,206)
Leases and other loans
Performing75,403 99,125 36,559 32,785 25,955 26,891 — — 296,718 
Nonperforming— 443 — — — 12,251 — — 12,694 
Leases and other loans75,403 99,568 36,559 32,785 25,955 39,142 — — 309,412 
Leases and other loans
Current period gross charge-offs(59)(251)(60)(45)(21)(287)— — (723)
Construction - other
Performing8,997 202,286 38,473 8,858 — — — — 258,614 
Nonperforming— — — — — — — — — 
Total construction - other8,997 202,286 38,473 8,858 — — — — 258,614 
Construction - other
Current period gross charge-offs— — — — — — — — — 
Total
Performing$372,198 $1,572,360 $1,902,326 $1,149,074 $357,862 $867,593 $947,347 $17,419 $7,186,179 
Nonperforming— 1,353 6,244 7,697 5,366 41,080 6,460 53 68,253 
Total$372,198 $1,573,713 $1,908,570 $1,156,771 $363,228 $908,673 $953,807 $17,472 $7,254,432 
December 31, 2022
Term Loans Amortized Cost Basis by Origination YearRevolving LoansRevolving Loans converted to Term Loans
(dollars in thousands)AmortizedAmortized
20222021202020192018PriorCost BasisCost BasisTotal
Real estate - residential mortgage
Performing$933,903 $1,708,703 $1,054,126 $286,167 $87,455 $620,416 $— $— $4,690,770 
Nonperforming1,199 5,104 6,597 6,466 4,587 22,556 — — 46,509 
    Total real estate - residential mortgage935,102 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)
Consumer and Real estate - home equity
Performing416,631 109,724 80,422 52,384 45,642 211,127 842,226 34,061 1,792,217 
Nonperforming292 298 174 36 98 6,512 1,722 668 9,800 
Total consumer and real estate - home equity416,923 110,022 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)
Construction - other
Performing164,924 73,492 10,892 — 1,077 — — — 250,385 
Nonperforming— — — — — — — — — 
Total construction - other164,924 73,492 10,892 — 1,077 — — — 250,385 
Construction - other
Current period gross charge-offs— — — — — — — — — 
Leases and other loans
Performing146,198 39,427 40,024 29,309 15,019 15,670 — — 285,647 
Nonperforming— — — — — 13,307 — — 13,307 
Leases and other loans146,198 39,427 40,024 29,309 15,019 28,977 — — 298,954 
Leases and other loans
Current period gross charge-offs(506)(167)(140)(80)(47)(1,191)— — (2,131)
Total
Performing$1,661,656 $1,931,346 $1,185,464 $367,860 $149,193 $847,213 $842,226 $34,061 $7,019,019 
Nonperforming1,491 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 
Non-Performing Assets
The following table presents non-performing assets:
March 31,
2023
December 31,
2022
 (dollars in thousands)
Non-accrual loans$134,303 $144,443 
Loans 90 days or more past due and still accruing(1)
30,336 27,463 
Total non-performing loans164,639 171,906 
OREO(2)
3,304 5,790 
Total non-performing assets$167,943 $177,696 
(1) Excludes PPP loans which are fully guaranteed by the federal government of $1.6 million and $7.7 million as of March 31, 2023 and December 31, 2022, respectively.
(2) Excludes $9.6 million and $6.0 million of residential mortgage properties for which formal foreclosure proceedings were in process as of March 31, 2023 and December 31, 2022, 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
(dollars in thousands)
March 31, 2023
Real estate – commercial mortgage$19,251 $1,887 $2,913 $58,409 $7,664,460 $7,746,920 
Commercial and industrial(1)
6,428 1,279 1,676 31,879 4,559,434 4,600,696 
Real estate – residential mortgage34,483 5,779 22,149 24,427 4,794,081 4,880,919 
Real estate – home equity6,442 2,441 2,316 6,034 1,057,479 1,074,712 
Real estate – construction13,074 751 231 1,278 1,311,420 1,326,754 
Consumer5,840 1,400 608 25 722,902 730,775 
Leases and other loans(2)
871 64 443 12,251 295,783 309,412 
Total$86,389 $13,601 $30,336 $134,303 $20,405,559 $20,670,188 
(1) Excludes delinquent PPP loans 30-59 days past due, 60-89 days past due and 90 days or more past due of $1.2 million, $0.1 million and $1.6 million, respectively, which are fully guaranteed by the federal government and are classified as current.
(2) Includes unearned income.

30-59 Days Past
Due
60-89
Days Past
Due
≥ 90 Days
Past Due
and
Accruing
Non-
accrual
CurrentTotal
(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 mortgage57,061 8,209 20,215 26,294 4,625,500 4,737,279 
Real estate – home equity5,666 2,444 2,704 6,105 1,085,919 1,102,838 
Real estate – construction1,762 1,758 — 1,368 1,265,037 1,269,925 
Consumer6,692 1,339 899 92 690,157 699,179 
Leases and other loans(2)
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 past due and 90 days or more past due of $0.1 million, $0.7 million and $7.7 million, respectively, which are fully guaranteed by the federal government and are classified as current.
(2) Includes unearned income.
Financing Receivables, Loan Modifications
The following table presents the amortized cost basis during the three months ended March 31, 2023 of the loans modified to borrowers experiencing financial difficulty, disaggregated by class of financing receivable and type of concession granted:

Term Extension
Three months ended March 31, 2023
Amortization Cost Basis% of Class of Financing Receivable
(dollars in thousands)
Real estate - commercial mortgage$1,426 0.02 %
Commercial and industrial6,227 0.14 
Real estate - residential mortgage1,182 0.02 
Total$8,835 
The following table presents the financial effect of the modifications made to borrowers experiencing financial difficulty as of March 31, 2023.

Term Extension
Financial Effect
Real estate - commercial mortgage
Added a weighted-average 1.91 years to the life of loans, which reduced monthly payment amounts for the borrowers.
Commercial and industrial
Added a weighted-average 0.77 years to the life of loans, which reduced monthly payment amounts for the borrowers.
Real estate - residential mortgage
Added a weighted-average 3.51 years to the life of loans, which reduced monthly payment amounts for the borrowers.
The following table presents the performance of loans that have been modified in the last three months as of March 31, 2023.

30-8990+Total
Days PastPast DuePast
CurrentDueand AccruingDue
(dollars in thousands)
Real estate - commercial mortgage$1,426 $— $— $— 
Commercial and industrial6,227 — — — 
Real estate - residential mortgage1,182 — — — 
Total$8,835 $— $— $—