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Loans and Allowance for Credit Losses (Tables)
 9 Months Ended
Sep. 30, 2025
Receivables [Abstract]  
Summary of Gross Loans by Type
Loans and leases, net of unearned income, are summarized as follows:
September 30,
2025		December 31,
2024
 (dollars in thousands)
Real estate - commercial mortgage$9,734,156 $9,601,858 
Commercial and industrial4,437,905 4,605,589 
Real-estate - residential mortgage6,617,017 6,349,643 
Real-estate - home equity1,214,399 1,160,616 
Real-estate - construction1,134,748 1,394,899 
Consumer566,291 616,856 
Leases and other loans(1)
336,973 315,458 
Net loans$24,041,489 $24,044,919 
(1) Includes unearned income of $37.8 million and $35.6 million as of September 30, 2025 and December 31, 2024, respectively.
Schedule of Allowance for Credit Losses
The following table summarizes the ACL - loans balance and the reserve for OBS credit exposures balance:

September 30,
2025		December 31,
2024
(dollars in thousands)
ACL - loans $376,258 $379,156 
Reserve for OBS credit exposures(1)
$14,575 $14,161 
(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:

Three months ended September 30Nine months ended September 30
 2025202420252024
(dollars in thousands)
Balance at beginning of period$377,337 $375,941 $379,156 293,404 
CECL Day 1 Provision(1)
— — — 23,444 
Initial PCD allowance for credit losses— (1,139)— 54,767 
Loans charged off(19,439)(13,144)(55,388)(38,103)
Recoveries of loans previously charged off8,510 2,022 20,155 7,081 
Net loans (charged off) recovered(10,929)(11,122)(35,233)(31,022)
Provision for credit losses(1) (2)
9,850 12,281 32,335 35,368 
Balance at end of period$376,258 $375,961 $376,258 $375,961 
Provision for OBS credit exposures(1)
$395 $(352)$414 $(3,902)
Reserve for OBS credit exposures$14,575 $14,188 $14,575 $14,188 
(1) The sum of these amounts is reflected in the provision for credit losses in the Consolidated Statements of Income.
(2) Provision only includes the portion related to net loans.



















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 Real Estate - Home
Equity		Real Estate
Construction		Leases and other loansTotal
 (dollars in thousands)
Three months ended September 30, 2025
Balance at June 30, 2025$153,383 $97,520 $82,356 $19,481 $20,736 $3,861 $377,337 
Loans charged off(3,906)(5,847)(394)(2,527)(5,286)(1,479)(19,439)
Recoveries of loans previously charged off4,307 3,205 33 726 47 192 8,510 
Net loans (charged off) recovered401 (2,642)(361)(1,801)(5,239)(1,287)(10,929)
Provision for loan losses(1) (2)
2,010 (818)6,030 3,859 (2,068)837 9,850 
Balance at September 30, 2025$155,794 $94,060 $88,025 $21,539 $13,429 $3,411 $376,258 
Three months ended September 30, 2024
Balance at June 30, 2024$156,165 $94,623 $89,714 $17,533 $14,610 $3,296 $375,941 
CECL Day 1 Provision(1)
— — — — — — — 
Initial PCD allowance for credit losses— (1,139)— — — — (1,139)
Loans charged off(2,723)(6,256)(1,131)(2,308)— (726)(13,144)
Recoveries of loans previously charged off107 1,008 130 545 103 129 2,022 
Net loans (charged off) recovered(2,616)(5,248)(1,001)(1,763)103 (597)(11,122)
Provision for loan and lease losses(1) (2)
(10,255)13,128 1,614 1,357 6,284 153 12,281 
Balance at September 30, 2024$143,294 $101,364 $90,327 $17,127 $20,997 $2,852 $375,961 
Nine months ended September 30, 2025
Balance at December 31, 2024$158,181 $92,212 $81,331 $19,397 $25,140 $2,895 $379,156 
Loans charged off(22,414)(15,492)(995)(6,605)(5,387)(4,495)(55,388)
Recoveries of loans previously charged off4,814 11,785 410 2,285 228 633 20,155 
Net loans (charged off) recovered(17,600)(3,707)(585)(4,320)(5,159)(3,862)(35,233)
Provision for loan losses(1) (2)
15,213 5,555 7,279 6,462 (6,552)4,378 32,335 
Balance at September 30, 2025$155,794 $94,060 $88,025 $21,539 $13,429 $3,411 $376,258 
Nine months ended September 30, 2024
Balance at December 31, 2023$112,565 $74,266 $73,286 $17,604 $12,295 $3,388 $293,404 
CECL Day 1 Provision(1)
6,108 1,484 14,922 444 486 — 23,444 
Initial PCD allowance for credit losses32,157 19,730 565 357 1,958 — 54,767 
Loans charged off(10,602)(16,843)(1,417)(6,312)— (2,929)(38,103)
Recoveries of loans previously charged off405 3,052 368 2,382 336 538 7,081 
Net loans (charged off) recovered(10,197)(13,791)(1,049)(3,930)336 (2,391)(31,022)
Provision for loan losses(1)(2)
2,661 19,675 2,603 2,652 5,922 1,855 35,368 
Balance at September 30, 2024$143,294 $101,364 $90,327 $17,127 $20,997 $2,852 $375,961 
(1) These amounts are reflected in the provision for credit loss in the Consolidated Statements of Income.
(2) Provision included in the table only includes the portion related to net loans.
The following table presents total non-accrual loans, by class segment:
September 30, 2025December 31, 2024
With a Related AllowanceWithout a Related AllowanceTotalWith a Related AllowanceWithout a Related AllowanceTotal
(dollars in thousands)
Real estate - commercial mortgage$30,933 $39,047 $69,980 $31,654 $67,843 $99,497 
Commercial and industrial17,550 24,918 42,468 17,011 25,206 42,217 
Real estate - residential mortgage26,387 1,032 27,419 23,387 2,013 25,400 
Real estate - home equity6,891 — 6,891 8,513 78 8,591 
Real estate - construction2,073 — 2,073 1,746 — 1,746 
Consumer4 — 4 8 — 8 
Leases and other loans41 1,261 1,302 1,801 10,033 11,834 
$83,879 $66,258 $150,137 $84,120 $105,173 $189,293 
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:

September 30, 2025
(dollars in thousands)
Term Loans Amortized Cost Basis by Origination YearRevolving LoansRevolving Loans converted to Term Loans
AmortizedAmortized
20252024202320222021PriorCost BasisCost BasisTotal
Real estate - commercial mortgage
Pass$552,254 $714,745 $1,028,527 $1,131,833 $1,207,772 $3,939,956 $67,232 $200 $8,642,519 
Special Mention1,193 8,781 80,578 99,915 126,475 184,295 247 — 501,484 
Substandard or Lower2,219 13,202 94,296 138,212 113,965 226,793 1,466 — 590,153 
Total real estate - commercial mortgage555,666 736,728 1,203,401 1,369,960 1,448,212 4,351,044 68,945 200 9,734,156 
Real estate - commercial mortgage
Current period gross charge-offs— — — (12,354)(5,982)(4,078)— — (22,414)
Commercial and industrial
Pass375,082 358,333 366,333 466,290 216,555 840,307 1,356,878 3,703 3,983,481 
Special Mention2,877 13,166 17,751 7,311 5,666 17,319 95,702 9,619 169,411 
Substandard or Lower470 12,256 21,749 27,376 9,960 95,688 109,785 7,729 285,013 
Total commercial and industrial378,429 383,755 405,833 500,977 232,181 953,314 1,562,365 21,051 4,437,905 
Commercial and industrial
Current period gross charge-offs(75)(1,272)(4,652)(3,467)(2,307)(3,453)(266)— (15,492)
 Real estate - construction(1)
Pass47,880 258,892 308,902 89,044 24,337 33,408 43,023 — 805,486 
Special Mention— 1,166 20,895 3,952 3,367 19,745 1,086 — 50,211 
Substandard or Lower— — 919 29,729 668 575 25 — 31,916 
Total real estate - construction47,880 260,058 330,716 122,725 28,372 53,728 44,134 — 887,613 
Real estate - construction(1)
Current period gross charge-offs— — — (5,287)— (100)— — (5,387)
Leases and other loans
Pass142,636 56,769 74,641 32,448 10,014 10,344 — — 326,852 
Special Mention— 505 362 1,231 503 395 — — 2,996 
Substandard or Lower193 2,182 1,025 3,383 227 115 — — 7,125 
Total leases and other loans142,829 59,456 76,028 37,062 10,744 10,854 — — 336,973 
Leases and other loans
Current period gross charge-offs(1,691)(962)(404)(246)(188)(1,004)— — (4,495)
Total
Pass1,117,852 1,388,739 1,778,403 1,719,615 1,458,678 4,824,015 1,467,133 3,903 13,758,338 
Special Mention4,070 23,618 119,586 112,409 136,011 221,754 97,035 9,619 724,102 
Substandard or Lower2,882 27,640 117,989 198,700 124,820 323,171 111,276 7,729 914,207 
Total$1,124,804 $1,439,997 $2,015,978 $2,030,724 $1,719,509 $5,368,940 $1,675,444 $21,251 $15,396,647 
(1) Excludes non-commercial real estate - construction.

For a description of the Corporation's internal risk rating categories, see "Note 1 - Summary of Significant Accounting Policies" under the heading "Allowance for Credit Losses" in the Corporation's Annual Report on Form 10-K for the year ended December 31, 2024.



The following table summarizes designated internal risk rating categories by portfolio segment and loan class, by origination year, in the prior period:

December 31, 2024
(dollars in thousands)
Term Loans Amortized Cost Basis by Origination YearRevolving LoansRevolving Loans converted to Term Loans
AmortizedAmortized
20242023202220212020PriorCost BasisCost BasisTotal
Real estate - commercial mortgage
Pass$623,742 $898,296 $1,138,669 $1,316,000 $1,077,625 $3,414,138 $69,942 $9,646 $8,548,058 
Special Mention4,441 73,348 149,280 157,543 28,734 107,099 10,978 — 531,423 
Substandard or Lower4,831 44,665 102,952 95,617 75,097 193,922 1,380 3,913 522,377 
Total real estate - commercial mortgage633,014 1,016,309 1,390,901 1,569,160 1,181,456 3,715,159 82,300 13,559 9,601,858 
Real estate - commercial mortgage
Current period gross charge-offs— (126)(84)— — (12,950)— (26)(13,186)
Commercial and industrial
Pass435,917 486,720 512,622 261,603 268,194 684,931 1,375,201 6,346 4,031,534 
Special Mention9,928 8,333 19,931 18,888 4,844 58,632 117,940 313 238,809 
Substandard or Lower10,795 16,593 34,748 10,183 12,496 49,439 176,755 24,237 335,246 
Total commercial and industrial456,640 511,646 567,301 290,674 285,534 793,002 1,669,896 30,896 4,605,589 
Commercial and industrial
Current period gross charge-offs(612)(3,709)(2,560)(4,587)(317)(7,612)(3,553)(3,635)(26,585)
Real estate - construction(1)
Pass197,206 494,072 157,296 37,438 8,784 41,480 30,608 619 967,503 
Special Mention— 10,612 80,651 69,109 938 — — — 161,310 
Substandard or Lower— — 14,407 10,399 — 20,350 121 1,906 47,183 
Total real estate - construction197,206 504,684 252,354 116,946 9,722 61,830 30,729 2,525 1,175,996 
Real estate - construction(1)
Current period gross charge-offs— — — — — — — — — 
Total
Pass1,256,865 1,879,088 1,808,587 1,615,041 1,354,603 4,140,549 1,475,751 16,611 13,547,095 
Special Mention14,369 92,293 249,862 245,540 34,516 165,731 128,918 313 931,542 
Substandard or Lower15,626 61,258 152,107 116,199 87,593 263,711 178,256 30,056 904,806 
Total$1,286,860 $2,032,639 $2,210,556 $1,976,780 $1,476,712 $4,569,991 $1,782,925 $46,980 $15,383,443 
(1) Excludes non-commercial real estate - construction.
The following tables present the amortized cost of these loans based on payment activity, by origination year, for the periods shown:
September 30, 2025
(dollars in thousands)
Term Loans Amortized Cost Basis by Origination YearRevolving LoansRevolving Loans converted to Term Loans
AmortizedAmortized
20252024202320222021PriorCost BasisCost BasisTotal
Real estate - residential mortgage
Performing$541,726 $532,128 $694,700 $1,441,060 $1,638,941 $1,723,773 $— $— $6,572,328 
Non-performing— 391 2,799 7,499 3,603 30,397 — — 44,689 
Total real estate - residential mortgage541,726 532,519 697,499 1,448,559 1,642,544 1,754,170 — — 6,617,017 
Real estate - residential mortgage
Current period gross charge-offs— (19)(188)(274)(150)(364)— — (995)
Consumer and real estate - home equity
Performing209,009 27,684 82,240 155,717 47,691 216,973 1,001,604 27,115 1,768,033 
Non-performing131 25 692 363 619 5,368 2,691 2,768 12,657 
Total consumer and real estate - home equity209,140 27,709 82,932 156,080 48,310 222,341 1,004,295 29,883 1,780,690 
Consumer and real estate - home equity
Current period gross charge-offs(122)(208)(795)(1,219)(524)(3,275)(462)— (6,605)
Construction - residential
Performing119,162 113,338 6,317 5,524 — — — — 244,341 
Non-performing— 1,388 — 1,406 — — — — 2,794 
Total construction - residential119,162 114,726 6,317 6,930 — — — — 247,135 
Construction - residential
Current period gross charge-offs— — — — — — — — — 
Total
Performing869,897 673,150 783,257 1,602,301 1,686,632 1,940,746 1,001,604 27,115 8,584,702 
Non-performing131 1,804 3,491 9,268 4,222 35,765 2,691 2,768 60,140 
Total$870,028 $674,954 $786,748 $1,611,569 $1,690,854 $1,976,511 $1,004,295 $29,883 $8,644,842 
December 31, 2024
(dollars in thousands)
Term Loans Amortized Cost Basis by Origination YearRevolving LoansRevolving Loans converted to Term Loans
AmortizedAmortized
20242023202220212020PriorCost BasisCost BasisTotal
Real estate - residential mortgage
Performing$470,918 $728,630 $1,515,521 $1,726,991 $1,022,116 $839,566 $— $— $6,303,742 
Non-performing87 1,358 5,118 3,232 5,523 30,583 — — 45,901 
    Total real estate - residential mortgage471,005 729,988 1,520,639 1,730,223 1,027,639 870,149 — — 6,349,643 
Real estate - residential mortgage
Current period gross charge-offs— (172)(106)(12)(43)(888)— (251)(1,472)
Consumer and real estate - home equity
Performing178,722 116,370 211,647 65,412 48,201 188,442 913,920 40,384 1,763,098 
Non-performing236 848 918 963 753 4,571 2,893 3,192 14,374 
Total consumer and real estate - home equity178,958 117,218 212,565 66,375 48,954 193,013 916,813 43,576 1,777,472 
Consumer and real estate - home equity
Current period gross charge-offs(118)(1,016)(1,552)(790)(398)(2,704)(75)(1,837)(8,490)
Leases and other loans
Performing123,991 89,006 52,724 16,894 10,830 9,996 — — 303,441 
Non-performing— — 1,922 744 23 9,328 — — 12,017 
Total leases and other loans123,991 89,006 54,646 17,638 10,853 19,324 — — 315,458 
Leases and other loans
Current period gross charge-offs(1,977)(913)(335)(334)(192)(770)— (175)(4,696)
Construction - residential
Performing138,440 61,848 15,710 1,499 — — — — 217,497 
Non-performing— — 1,406 — — — — — 1,406 
Total construction - residential138,440 61,848 17,116 1,499 — — — — 218,903 
Construction - residential
Current period gross charge-offs— — — — — — — — — 
Total
Performing912,071 995,854 1,795,602 1,810,796 1,081,147 1,038,004 913,920 40,384 8,587,778 
Non-performing323 2,206 9,364 4,939 6,299 44,482 2,893 3,192 73,698 
Total$912,394 $998,060 $1,804,966 $1,815,735 $1,087,446 $1,082,486 $916,813 $43,576 $8,661,476 
Non-Performing Assets
The following table presents non-performing assets:
September 30,
2025		December 31,
2024
 (dollars in thousands)
Non-accrual loans$150,137 $189,293 
Loans 90 days or more past due and still accruing48,597 30,781 
Total non-performing loans198,734 220,074 
OREO(1)
2,305 2,621 
Total non-performing assets$201,039 $222,695 
(1) Excludes $15.0 million and $17.5 million of residential mortgage properties for which formal foreclosure proceedings were in process as of September 30,
2025 and December 31, 2024, 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:

30-59 Days Past
Due		60-89
Days Past
Due		≥ 90 Days
Past Due
and
Accruing		Non-
accrual		CurrentTotal
(dollars in thousands)
September 30, 2025
Real estate - commercial mortgage$55,724 $8,949 $17,809 $69,980 $9,581,694 $9,734,156 
Commercial and industrial15,591 1,394 6,349 42,468 4,372,103 4,437,905 
Real estate - residential mortgage51,012 8,537 17,270 27,419 6,512,779 6,617,017 
Real estate - home equity5,297 703 4,766 6,891 1,196,742 1,214,399 
Real estate - construction1,026 — 1,388 2,073 1,130,261 1,134,748 
Consumer5,606 1,706 997 4 557,978 566,291 
Leases and other loans(1)
123 230 18 1,302 335,300 336,973 
Total$134,379 $21,519 $48,597 $150,137 $23,686,857 $24,041,489 
(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, 2024
Real estate - commercial mortgage$32,715 $16,684 $2,862 $99,497 $9,450,100 $9,601,858 
Commercial and industrial6,031 3,636 1,460 42,217 4,552,245 4,605,589 
Real estate - residential mortgage59,593 5,946 20,501 25,400 6,238,203 6,349,643 
Real estate - home equity6,778 1,057 4,758 8,591 1,139,432 1,160,616 
Real estate - construction3,549 5,163 — 1,746 1,384,441 1,394,899 
Consumer6,779 1,627 1,017 8 607,425 616,856 
Leases and other loans(1)
269 105 183 11,834 303,067 315,458 
Total$115,714 $34,218 $30,781 $189,293 $23,674,913 $24,044,919 
(1) Includes unearned income.
Financing Receivables, Loan Modifications
The following table presents the amortized cost basis of the loans modified to borrowers experiencing financial difficulty, disaggregated by class of financing receivable and type of concession granted:

Term Extension
20252024
Amortized Cost Basis% of Class of Financing ReceivableAmortized Cost Basis% of Class of Financing Receivable
(dollars in thousands)
Three months ended September 30
Real estate - commercial mortgage$69,284 0.71 %$— — %
Commercial and industrial6,609 0.15 — — 
Real estate - residential mortgage1,263 0.02 2,976 0.05 
Real estate - home equity37 — 256 0.02 
Total$77,193 $3,232 
Nine months ended September 30
Real estate - commercial mortgage$72,937 0.75 %$20,458 0.22 %
Commercial and industrial24,822 0.56 — — 
Real estate - residential mortgage5,339 0.08 8,643 0.14 
Real estate - home equity381 0.03 394 0.03 
Real estate - construction19,275 1.70 605 0.05 
Total$122,754 $30,100 

Interest Rate Reduction and Term Extension
20252024
Amortized Cost Basis% of Class of Financing ReceivableAmortized Cost Basis% of Class of Financing Receivable
(dollars in thousands)
Three months ended September 30
Real estate - residential mortgage$483 0.01 %$622 0.01 %
Total$483 $622 
Nine months ended September 30
Real estate - residential mortgage$2,502 0.04 %$1,941 0.03 %
Total$2,502 $1,941 











The following table presents the financial effect of the modifications made to borrowers experiencing financial difficulty:

Term Extension
Financial Effect
Three months ended September 30, 2025
Real estate - commercial mortgage
Added a weighted-average 0.95 years to the life of loans, which reduced monthly payment amounts for the borrowers.
Commercial and industrial
Added a weighted-average 0.98 years to the life of loans, which reduced monthly payment amounts for the borrowers.
Real estate - residential mortgage
Added a weighted-average 8.93 years to the life of loans, which reduced monthly payment amounts for the borrowers.
Real estate - home equity
Added a weighted-average 35.00 years to the life of loans, which reduced monthly payment amounts for borrowers.
Three months ended September 30, 2024
Real estate - residential mortgage
Added a weighted-average 10.22 years to the life of loans, which reduced monthly payment amounts for the borrowers.
Real estate - home equity
Added a weighted-average 12.40 years to the life of loans, which reduced monthly payment amounts for the borrowers.
Nine months ended September 30, 2025
Real estate - commercial mortgage
Added a weighted-average 0.94 years to the life of loans, which reduced monthly payment amounts for the borrowers.
Commercial and industrial
Added a weighted-average 0.94 years to the life of loans, which reduced monthly payment amounts for the borrowers.
Real estate - residential mortgage
Added a weighted-average 8.63 years to the life of loans, which reduced monthly payment amounts for the borrowers.
Real estate - home equity
Added a weighted-average 15.29 years to the life of loans, which reduced monthly payment amounts for borrowers.
Real estate - construction
Added a weighted-average 0.91 years to the life of loans, which reduced monthly payment amounts for the borrowers.
Nine months ended September 30, 2024
Real estate - commercial mortgage
Added a weighted-average 2.00 years to the life of loans, which reduced monthly payment amounts for the borrowers.
Real estate - residential mortgage
Added a weighted-average 8.43 years to the life of loans, which reduced monthly payment amounts for the borrowers.
Real estate - home equity
Added a weighted-average 14.31 years to the life of loans, which reduced monthly payment amounts for the borrowers.
Real estate - construction
Added a weighted-average 0.67 years to the life of loans, which reduced monthly payment amounts for the borrowers.
Interest Rate Reduction
Financial Effect
Three months ended September 30, 2025
Real estate - residential mortgage
Reduced weighted-average interest rate from 4.29% to 3.02%
Three months ended September 30, 2024
Real estate - residential mortgage
Reduced weighted-average interest rate from 4.02% to 2.49%
Nine months ended September 30, 2025
Real estate - residential mortgage
Reduced weighted-average interest rate from 4.37% to 2.64%
Nine months ended September 30, 2024
Real estate - residential mortgage
Reduced weighted-average interest rate from 2.86% to 1.71%
The following table presents the performance of loans that have been modified due to financial difficulty in the previous 12 months:

30-8990+Total
Days PastPast DuePast
CurrentDueand AccruingDue
September 30, 2025(dollars in thousands)
Real estate - commercial mortgage$72,476 $627 $— $627 
Commercial and industrial16,797 8,025 — 8,025 
Real estate - residential mortgage9,009 1,424 828 2,252 
Real estate - home equity340 41 — 41 
Real estate - construction664 18,610 — 18,610 
Total$99,286 $28,727 $828 $29,555