XML 51 R36.htm IDEA: XBRL DOCUMENT v3.24.0.1
Loans and Allowance for Credit Losses (Tables)
12 Months Ended
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:
20232022
(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 mortgage5,325,923 4,737,279 
Real-estate - home equity1,047,184 1,102,838 
Real-estate - construction1,239,075 1,269,925 
Consumer729,318 699,179 
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:

20232022
(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:
202320222021
(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 off10,129 14,092 17,146 
Net loans (charged off) recovered(29,072)(7,380)(13,806)
Provision for credit losses53,110 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 IndustrialConsumer and Real Estate -
Home
Equity
Real Estate -
Residential
Mortgage
Real Estate -
Construction
Leases and other loansTotal
 (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 expense4,107 — 131 3,716 — — 7,954 
Initial purchased credit deteriorated loans1,051 — 77 — — 1,135 
Loans charged off(12,473)(2,390)(4,412)(66)— (2,131)(21,472)
Recoveries of loans previously charged off3,860 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, 202269,456 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 off1,076 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:

20232022
With a Related AllowanceWithout a Related AllowanceTotalWith a Related AllowanceWithout a Related AllowanceTotal
(dollars in thousands)
Real estate - commercial mortgage$23,338 $21,467 $44,805 $39,722 $30,439 $70,161 
Commercial and industrial12,410 27,542 39,952 14,804 12,312 27,116 
Real estate - residential mortgage18,806 2,018 20,824 25,315 979 26,294 
Real estate - home equity4,649 104 4,753 5,975 130 6,105 
Real estate - construction341 1,000 1,341 866 502 1,368 
Consumer52  52 92 — 92 
Leases and other loans9,255 638 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 YearRevolving LoansRevolving Loans converted to Term Loans
AmortizedAmortized
20232022202120202019PriorCost BasisCost BasisTotal
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 Mention2,767 43,904 105,185 7,862 35,289 105,786 1,760 — 302,553 
Substandard or Lower366 20,958 31,304 49,142 26,579 95,621 804 — 224,774 
Total real estate - commercial mortgage786,806 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
Pass626,386 590,132 330,576 341,218 272,126 598,838 1,443,203 10,736 4,213,215 
Special Mention7,936 9,548 16,499 3,577 6,817 18,487 72,775 198 135,837 
Substandard or Lower247 25,184 4,611 3,843 18,988 31,663 105,230 6,734 196,500 
Total commercial and industrial634,569 624,864 351,686 348,638 297,931 648,988 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)
Pass322,922 258,080 261,583 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 - construction322,922 271,223 289,710 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 Mention10,703 66,074 147,582 11,439 42,106 124,273 74,535 198 476,910 
Substandard or Lower613 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 YearRevolving LoansRevolving Loans converted to Term Loans
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
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
Current period gross charge-offs— — (36)— (21)(365)(1,192)(776)(2,390)
Real estate - construction(1)
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(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 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) 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 YearRevolving LoansRevolving Loans converted to Term Loans
AmortizedAmortized
20232022202120202019PriorCost BasisCost BasisTotal
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 mortgage623,247 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
Performing272,571 276,373 85,985 62,426 37,667 204,913 805,645 20,044 1,765,624 
Nonperforming295 455 866 282 354 5,526 1,439 1,661 10,878 
Total consumer and real estate - home equity272,866 276,828 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
Performing166,490 83,641 27,755 22,304 16,246 9,867 — — 326,303 
Nonperforming— 118 — — — 9,893 — — 10,011 
Total leases and other loans166,490 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
Performing127,382 93,319 13,698 555 — — — — 234,954 
Nonperforming— 1,535 — — — — — — 1,535 
Total construction - other127,382 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 
Nonperforming295 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 YearRevolving LoansRevolving Loans converted to Term Loans
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 loans
Current period gross charge-offs— (587)(70)(108)(16)(442)(178)(3,011)(4,412)
Leases and other loans
Performing146,198 39,427 40,024 29,309 15,019 15,670 — — 285,647 
Nonperforming— — — — — 13,307 — — 13,307 
Total leases and other146,198 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
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— — — — — — — — — 
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:
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 accruing31,721 27,463 
Total non-performing loans153,341 171,906 
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:
30-5960-89≥ 90 Days
Days PastDays PastPast Due Non-
DueDueand AccruingAccrualCurrentTotal
(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 mortgage49,145 10,838 21,205 20,824 5,223,911 5,325,923 
Real estate - home equity8,142 2,075 5,326 4,753 1,026,888 1,047,184 
Real estate - construction4,185 451 1,535 1,341 1,231,563 1,239,075 
Consumer8,361 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
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 4,436,360 4,473,004 
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(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 industrial11,970 0.26 
Real estate - residential mortgage8,182 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.
30-8990+Total
Days PastPast DuePast
CurrentDueand AccruingDue
(dollars in thousands)
Real estate - commercial mortgage$2,944 $— $— $— 
Commercial and industrial11,970    
Real estate - residential mortgage9,092    
Total$24,006 $ $ $