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Loans and Allowance for Credit Losses (Tables) | 12 Months Ended
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Dec. 31, 2023
Receivables [Abstract] |
Summary of Loans and Leases, Net of Unearned Income | Loans and leases, net of unearned income are summarized as follows as of December 31:
| 2023 |  | 2022
| (dollars in thousands)
Real estate - commercial mortgage | $ | 8,127,728 |  |  | $ | 7,693,835 |
Commercial and industrial(1) | 4,545,552 |  |  | 4,473,004 |
Real-estate - residential mortgage | 5,325,923 |  |  | 4,737,279 |
Real-estate - home equity | 1,047,184 |  |  | 1,102,838 |
Real-estate - construction | 1,239,075 |  |  | 1,269,925 |
Consumer | 729,318 |  |  | 699,179 |
Leases and other loans(2) | 336,314 |  |  | 303,487 |
Net loans | $ | 21,351,094 |  |  | $ | 20,279,547 |
(1) Includes unearned income of $41.0 thousand and $4.5 million at December 31, 2023 and December 31, 2022, respectively. (2) Includes unearned income of $38.0 million and $24.8 million at December 31, 2023 and December 31, 2022, respectively.
Schedule of Allowance for Credit Losses | The following table summarizes the ACL - loans balance and the reserve for OBS credit exposures balance as of December 31, 2023 and 2022:
| 2023 |  | 2022
| (dollars in thousands)
ACL - loans | $ | 293,404 |  |  | $ | 269,366 |
Reserve for OBS credit exposures(1) | $ | 17,254 |  |  | $ | 16,328 |
(1) Included in other liabilities on the consolidated balance sheets.
Activity in the Allowance for Credit Losses | The following table presents the activity in the ACL - loans balances for the years ended December 31:
| 2023 |  | 2022 |  | 2021
| (dollars in thousands)
Balance at beginning of period | $ | 269,366 |  |  | $ | 249,001 |  |  | $ | 277,567 |
CECL Day 1 Provision expense | — |  |  | 7,954 |  |  | — |
Initial purchased credit deteriorated loans | — |  |  | 1,135 |  |  | — |
Loans charged off | (39,201) |  |  | (21,472) |  |  | (30,952) |
Recoveries of loans previously charged off | 10,129 |  |  | 14,092 |  |  | 17,146 |
Net loans (charged off) recovered | (29,072) |  |  | (7,380) |  |  | (13,806) |
Provision for credit losses | 53,110 |  |  | 18,656 |  |  | (14,760) |
Balance at end of period | $ | 293,404 |  |  | $ | 269,366 |  |  | $ | 249,001 |
The following table presents the activity in the ACL - loans losses by portfolio segment for the years ended December 31, 2023 and 2022, by portfolio segment:
| Real Estate - Commercial Mortgage |  | Commercial and Industrial |  | Consumer and Real Estate - Home Equity |  | Real Estate - Residential Mortgage |  | Real Estate - Construction |  | Leases and other loans |  | Total
| (dollars in thousands)
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 |
Loans charged off | (17,999) |  |  | (9,246) |  |  | (7,514) |  |  | (62) |  |  | — |  |  | (4,380) |  |  | (39,201) |
Recoveries of loans previously charged off | 1,076 |  |  | 3,473 |  |  | 3,198 |  |  | 421 |  |  | 858 |  |  | 1,103 |  |  | 10,129 |
Net loans (charged off) recovered | (16,923) |  |  | (5,773) |  |  | (4,316) |  |  | 359 |  |  | 858 |  |  | (3,277) |  |  | (29,072) |
Provision for loan losses(1) | 60,032 |  |  | 9,923 |  |  | (4,509) |  |  | (10,323) |  |  | 694 |  |  | (2,707) |  |  | 53,110 |
Balance at December 31, 2023 | $ | 112,565 |  |  | $ | 74,266 |  |  | $ | 17,604 |  |  | $ | 73,286 |  |  | $ | 12,295 |  |  | $ | 3,388 |  |  | $ | 293,404 |
(1) Provision included in the table only includes the portion related to net loans
Total Non-Accrual Loans by Class Segment | The following table presents total non-accrual loans, by class segment:
| 2023 |  | 2022
| 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 | $ | 23,338 |  |  | $ | 21,467 |  |  | $ | 44,805 |  |  | $ | 39,722 |  |  | $ | 30,439 |  |  | $ | 70,161 |
Commercial and industrial | 12,410 |  |  | 27,542 |  |  | 39,952 |  |  | 14,804 |  |  | 12,312 |  |  | 27,116 |
Real estate - residential mortgage | 18,806 |  |  | 2,018 |  |  | 20,824 |  |  | 25,315 |  |  | 979 |  |  | 26,294 |
Real estate - home equity | 4,649 |  |  | 104 |  |  | 4,753 |  |  | 5,975 |  |  | 130 |  |  | 6,105 |
Real estate - construction | 341 |  |  | 1,000 |  |  | 1,341 |  |  | 866 |  |  | 502 |  |  | 1,368 |
Consumer | 52 |  |  | — |  |  | 52 |  |  | 92 |  |  | — |  |  | 92 |
Leases and other loans | 9,255 |  |  | 638 |  |  | 9,893 |  |  | 4,052 |  |  | 9,255 |  |  | 13,307 |
Total | $ | 68,851 |  |  | $ | 52,769 |  |  | $ | 121,620 |  |  | $ | 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:
| December 31, 2023
| (dollars in thousands)
| Term Loans Amortized Cost Basis by Origination Year | Revolving Loans | Revolving Loans converted to Term Loans |
|  | Amortized | Amortized |
| 2023 | 2022 | 2021 | 2020 | 2019 | Prior | Cost Basis | Cost Basis | Total
Real estate - commercial mortgage |  |  |  |  |  |  |
Pass | $ | 783,673 |  | $ | 993,017 |  | $ | 1,203,852 |  | $ | 984,958 |  | $ | 721,857 |  | $ | 2,822,155 |  | $ | 59,253 |  | $ | 31,636 |  | $ | 7,600,401 |
Special Mention | 2,767 |  | 43,904 |  | 105,185 |  | 7,862 |  | 35,289 |  | 105,786 |  | 1,760 |  | — |  | 302,553 |
Substandard or Lower | 366 |  | 20,958 |  | 31,304 |  | 49,142 |  | 26,579 |  | 95,621 |  | 804 |  | — |  | 224,774 |
Total real estate - commercial mortgage | 786,806 |  | 1,057,879 |  | 1,340,341 |  | 1,041,962 |  | 783,725 |  | 3,023,562 |  | 61,817 |  | 31,636 |  | 8,127,728 |
Real estate - commercial mortgage |  |  |  |  |  |  |
Current period gross charge-offs | — |  | — |  | — |  | — |  | — |  | (424) |  | — |  | (17,575) |  | (17,999) |
Commercial and industrial |  |  |  |  |  |  |
Pass | 626,386 |  | 590,132 |  | 330,576 |  | 341,218 |  | 272,126 |  | 598,838 |  | 1,443,203 |  | 10,736 |  | 4,213,215 |
Special Mention | 7,936 |  | 9,548 |  | 16,499 |  | 3,577 |  | 6,817 |  | 18,487 |  | 72,775 |  | 198 |  | 135,837 |
Substandard or Lower | 247 |  | 25,184 |  | 4,611 |  | 3,843 |  | 18,988 |  | 31,663 |  | 105,230 |  | 6,734 |  | 196,500 |
Total commercial and industrial | 634,569 |  | 624,864 |  | 351,686 |  | 348,638 |  | 297,931 |  | 648,988 |  | 1,621,208 |  | 17,668 |  | 4,545,552 |
Commercial and industrial |  |  |  |  |  |  |
Current period gross charge-offs | — |  | (299) |  | — |  | — |  | — |  | (249) |  | (682) |  | (8,016) |  | (9,246) |
Real estate - construction(1) |  |  |  |  |  |  |
Pass | 322,922 |  | 258,080 |  | 261,583 |  | 37,426 |  | 9,510 |  | 34,097 |  | 13,677 |  | — |  | 937,295 |
Special Mention | — |  | 12,622 |  | 25,898 |  | — |  | — |  | — |  | — |  | — |  | 38,520 |
Substandard or Lower | — |  | 521 |  | 2,229 |  | — |  | 340 |  | 21,284 |  | 168 |  | 2,229 |  | 26,771 |
Total real estate - construction | 322,922 |  | 271,223 |  | 289,710 |  | 37,426 |  | 9,850 |  | 55,381 |  | 13,845 |  | 2,229 |  | 1,002,586 |
Real estate - construction |  |  |  |  |  |  |
Current period gross charge-offs | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total |  |  |  |  |  |  |  |  |
Pass | $ | 1,732,981 |  | $ | 1,841,229 |  | $ | 1,796,011 |  | $ | 1,363,602 |  | $ | 1,003,493 |  | $ | 3,455,090 |  | $ | 1,516,133 |  | $ | 42,372 |  | $ | 12,750,911 |
Special Mention | 10,703 |  | 66,074 |  | 147,582 |  | 11,439 |  | 42,106 |  | 124,273 |  | 74,535 |  | 198 |  | 476,910 |
Substandard or Lower | 613 |  | 46,663 |  | 38,144 |  | 52,985 |  | 45,907 |  | 148,568 |  | 106,202 |  | 8,963 |  | 448,045 |
Total | $ | 1,744,297 |  | $ | 1,953,966 |  | $ | 1,981,737 |  | $ | 1,428,026 |  | $ | 1,091,506 |  | $ | 3,727,931 |  | $ | 1,696,870 |  | $ | 51,533 |  | $ | 13,675,866 |
(1) Excludes real estate - construction - other. Total loans risk- rated substandard or lower increased by $157.9 million, or 54.4%, compared to December 31, 2022, primarily due to borrower performance in both commercial and industrial loans and commercial real estate loans. 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
| (dollars in thousands)
| Term Loans Amortized Cost Basis by Origination Year | Revolving Loans | Revolving Loans converted to Term Loans |
|  | 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) |
Commercial and industrial |  |  |  |  |  |  |
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) |
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 | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
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. The following tables present the amortized cost of these loans based on payment activity, by origination year, for the periods shown:
| December 31, 2023
| (dollars in thousands)
| Term Loans Amortized Cost Basis by Origination Year | Revolving Loans | Revolving Loans converted to Term Loans |
|  | Amortized | Amortized |
| 2023 | 2022 | 2021 | 2020 | 2019 | Prior | Cost Basis | Cost Basis | Total
Real estate - residential mortgage |  |  |  |  |  |  |
Performing | $ | 623,247 |  | $ | 1,126,656 |  | $ | 1,682,759 |  | $ | 984,050 |  | $ | 260,049 |  | $ | 607,133 |  | $ | — |  | $ | — |  | $ | 5,283,894 |
Nonperforming | — |  | 1,720 |  | 4,888 |  | 4,701 |  | 6,233 |  | 24,487 |  | — |  | — |  | 42,029 |
Total real estate - residential mortgage | 623,247 |  | 1,128,376 |  | 1,687,647 |  | 988,751 |  | 266,282 |  | 631,620 |  | — |  | — |  | 5,325,923 |
Real estate - residential mortgage |  |  |  |  |  |  |
Current period gross charge-offs | — |  | — |  | — |  | — |  | — |  | — |  | — |  | (62) |  | (62) |
Consumer and real estate - home equity |  |  |  |  |  |  |
Performing | 272,571 |  | 276,373 |  | 85,985 |  | 62,426 |  | 37,667 |  | 204,913 |  | 805,645 |  | 20,044 |  | 1,765,624 |
Nonperforming | 295 |  | 455 |  | 866 |  | 282 |  | 354 |  | 5,526 |  | 1,439 |  | 1,661 |  | 10,878 |
Total consumer and real estate - home equity | 272,866 |  | 276,828 |  | 86,851 |  | 62,708 |  | 38,021 |  | 210,439 |  | 807,084 |  | 21,705 |  | 1,776,502 |
Consumer and real estate - home equity |  |  |  |  |  |  |
Current period gross charge-offs | (119) |  | — |  | — |  | — |  | — |  | (525) |  | (283) |  | (6,587) |  | (7,514) |
Leases and other loans |  |  |  |  |  |  |
Performing | 166,490 |  | 83,641 |  | 27,755 |  | 22,304 |  | 16,246 |  | 9,867 |  | — |  | — |  | 326,303 |
Nonperforming | — |  | 118 |  | — |  | — |  | — |  | 9,893 |  | — |  | — |  | 10,011 |
Total leases and other loans | 166,490 |  | 83,759 |  | 27,755 |  | 22,304 |  | 16,246 |  | 19,760 |  | — |  | — |  | 336,314 |
Leases and other loans |  |  |  |  |  |  |
Current period gross charge-offs | (471) |  | (521) |  | (246) |  | (128) |  | (82) |  | (656) |  | (765) |  | (1,511) |  | (4,380) |
Construction - other |  |  |  |  |  |  |
Performing | 127,382 |  | 93,319 |  | 13,698 |  | 555 |  | — |  | — |  | — |  | — |  | 234,954 |
Nonperforming | — |  | 1,535 |  | — |  | — |  | — |  | — |  | — |  | — |  | 1,535 |
Total construction - other | 127,382 |  | 94,854 |  | 13,698 |  | 555 |  | — |  | — |  | — |  | — |  | 236,489 |
Construction - other |  |  |  |  |  |  |
Current period gross charge-offs | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total |  |  |  |  |  |  |  |  |
Performing | $ | 1,189,690 |  | $ | 1,579,989 |  | $ | 1,810,197 |  | $ | 1,069,335 |  | $ | 313,962 |  | $ | 821,913 |  | $ | 805,645 |  | $ | 20,044 |  | $ | 7,610,775 |
Nonperforming | 295 |  | 3,828 |  | 5,754 |  | 4,983 |  | 6,587 |  | 39,906 |  | 1,439 |  | 1,661 |  | 64,453 |
Total | $ | 1,189,985 |  | $ | 1,583,817 |  | $ | 1,815,951 |  | $ | 1,074,318 |  | $ | 320,549 |  | $ | 861,819 |  | $ | 807,084 |  | $ | 21,705 |  | $ | 7,675,228 |
| December 31, 2022
| (dollars in thousands)
| Term Loans Amortized Cost Basis by Origination Year | Revolving Loans | Revolving Loans converted to Term Loans |
|  | 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 |
Nonperforming | 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) |
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 |
Nonperforming | 292 |  | 298 |  | 174 |  | 36 |  | 98 |  | 6,512 |  | 1,722 |  | 668 |  | 9,800 |
Total consumer and 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 loans |  |  |  |  |  |  |
Current period gross charge-offs | — |  | (587) |  | (70) |  | (108) |  | (16) |  | (442) |  | (178) |  | (3,011) |  | (4,412) |
Leases and other loans |  |  |  |  |  |  |
Performing | 146,198 |  | 39,427 |  | 40,024 |  | 29,309 |  | 15,019 |  | 15,670 |  | — |  | — |  | 285,647 |
Nonperforming | — |  | — |  | — |  | — |  | — |  | 13,307 |  | — |  | — |  | 13,307 |
Total leases and other | 146,198 |  | 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) |
Construction - other |  |  |  |  |  |  |
Performing | 164,924 |  | 73,492 |  | 10,892 |  | — |  | 1,077 |  | — |  | — |  | — |  | 250,385 |
Nonperforming | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total construction - other | 164,924 |  | 73,492 |  | 10,892 |  | — |  | 1,077 |  | — |  | — |  | — |  | 250,385 |
Construction - other |  |  |  |  |  |  |
Current period gross charge-offs | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total |  |  |  |  |  |  |
Performing | $ | 1,661,656 |  | $ | 1,931,346 |  | $ | 1,185,464 |  | $ | 367,860 |  | $ | 149,193 |  | $ | 847,213 |  | $ | 842,226 |  | $ | 34,061 |  | $ | 7,019,019 |
Nonperforming | 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 |
Non-Performing Assets | The following table presents non-performing assets:
| December 31, 2023 |  | December 31, 2022
| (dollars in thousands)
Non-accrual loans | $ | 121,620 |  |  | $ | 144,443 |
Loans 90 days or more past due and still accruing | 31,721 |  |  | 27,463 |
Total non-performing loans | 153,341 |  |  | 171,906 |
OREO(1) | 896 |  |  | 5,790 |
Total non-performing assets | $ | 154,237 |  |  | $ | 177,696 |
(1) Excludes $10.9 million and $6.0 million of residential mortgage properties for which formal foreclosure proceeding were in process as of December 31, 2023 and 2022, respectively.
Aging of Amortized Cost Basis of Loans, by Class Segment | 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, 2023 |  |  |  |  |  |  |  |  |  |  |
Real estate - commercial mortgage | $ | 4,408 |  |  | $ | 1,341 |  |  | $ | 1,722 |  |  | $ | 44,805 |  |  | $ | 8,075,452 |  |  | $ | 8,127,728 |
Commercial and industrial(1) | 5,620 |  |  | 1,656 |  |  | 1,068 |  |  | 39,952 |  |  | 4,497,256 |  |  | 4,545,552 |
Real estate - residential mortgage | 49,145 |  |  | 10,838 |  |  | 21,205 |  |  | 20,824 |  |  | 5,223,911 |  |  | 5,325,923 |
Real estate - home equity | 8,142 |  |  | 2,075 |  |  | 5,326 |  |  | 4,753 |  |  | 1,026,888 |  |  | 1,047,184 |
Real estate - construction | 4,185 |  |  | 451 |  |  | 1,535 |  |  | 1,341 |  |  | 1,231,563 |  |  | 1,239,075 |
Consumer | 8,361 |  |  | 1,767 |  |  | 747 |  |  | 52 |  |  | 718,391 |  |  | 729,318 |
Leases and other loans(1) | 146 |  |  | 722 |  |  | 118 |  |  | 9,893 |  |  | 325,435 |  |  | 336,314 |
Total | $ | 80,007 |  |  | $ | 18,850 |  |  | $ | 31,721 |  |  | $ | 121,620 |  |  | $ | 21,098,896 |  |  | $ | 21,351,094 |
(1) Includes unearned income.
| 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, 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 |  |  | 4,436,360 |  |  | 4,473,004 |
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 |
Leases and other loans(1) | 348 |  |  | 122 |  |  | — |  |  | 13,307 |  |  | 289,710 |  |  | 303,487 |
Total | $ | 88,349 |  |  | $ | 20,805 |  |  | $ | 27,463 |  |  | $ | 144,443 |  |  | $ | 19,998,487 |  |  | $ | 20,279,547 |
(1) Includes unearned income.
Financing Receivables, Loan Modifications | The following table presents the amortized cost basis for the year ended December 31, 2023 of the loans modified to borrowers experiencing financial difficulty, disaggregated by class of financing receivable and type of concession granted:
| Term Extension
| Amortized Cost Basis |  | % of Class of Financing Receivable |  |  |  |  |  |  |  |  |  |  |  |
| (dollars in thousands)
Real estate - commercial mortgage | $ | 2,944 |  |  | 0.04 | % |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial | 11,970 |  |  | 0.26 |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate - residential mortgage | 8,182 |  |  | 0.15 |  |  |  |  |  |  |  |  |  |  |  |  |
Total | $ | 23,096 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Interest Rate Reduction and Term Extension
| Amortized Cost Basis |  | % of Class of Financing Receivable |  |  |  |  |  |  |  |  |  |  |  |
| (dollars in thousands)
Real estate - residential mortgage | $ | 910 |  |  | 0.02 | % |  |  |  |  |  |  |  |  |  |  |  |
Total | $ | 910 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
The following table presents the financial effect of the modifications made to borrowers experiencing financial difficulty for the year ended December 31, 2023.
| Term Extension
| Financial Effect
Real estate - commercial mortgage | Added a weighted-average 1.22 years to the life of loans, which reduced monthly payment amounts for the borrowers.
Commercial and industrial | Added a weighted-average 0.92 years to the life of loans, which reduced monthly payment amounts for the borrowers.
Real estate - residential mortgage | Added a weighted-average 8.10 years to the life of loans, which reduced monthly payment amounts for the borrowers.
| Interest Rate Reduction |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Financial Effect |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate - residential mortgage | Reduced weighted-average interest rate from 3.76% to 2.30% |  |  |  |  |  |  |  |  |  |  |  |  |  |
The following table presents the performance of loans that have been modified in the year ended December 31, 2023.
|  |  | 30-89 |  | 90+ |  | Total
|  |  | Days Past |  | Past Due |  | Past
| Current |  | Due |  | and Accruing |  | Due
| (dollars in thousands)
Real estate - commercial mortgage | $ | 2,944 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Commercial and industrial | 11,970 |  |  | — |  |  | — |  |  | — |
Real estate - residential mortgage | 9,092 |  |  | — |  |  | — |  |  | — |
Total | $ | 24,006 |  |  | $ | — |  |  | $ | — |  |  | $ | — |

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