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ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY INFORMATION | 9 Months Ended
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Sep. 30, 2024
Receivables [Abstract] |
ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY INFORMATION | 7. ALLOWANCE FOR CREDIT LOSSES AND CREDIT QUALITY INFORMATION The following tables provide the activity of allowance for credit losses and loan balances for the three and nine months ended September 30, 2024 and 2023. For the three months ended September 30, 2024, the decrease was primarily due to runoff in our consumer loan portfolio from our partnership with Upstart. For the nine months ended September 30, 2024, the increase was primarily due to net loan growth, as well as increases in criticized loan levels in the commercial mortgages portfolio and specific reserves on certain commercial loans.
(Dollars in thousands) |  | Commercial and Industrial |  | Owner-occupied Commercial |  | Commercial Mortgages |  | Construction |  | Commercial Small Business Leases |  | Residential(1) |  | Consumer(2) |  | Total
Three months ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for credit losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 56,516 |  |  | $ | 9,668 |  |  | $ | 46,831 |  |  | $ | 9,198 |  |  | $ | 16,218 |  |  | $ | 5,057 |  |  | $ | 54,765 |  |  | $ | 198,253 |
Charge-offs |  | (11,277) |  |  | (177) |  |  | (205) |  |  | — |  |  | (5,451) |  |  | (8) |  |  | (5,983) |  |  | (23,101) |
Recoveries |  | 2,481 |  |  | 4 |  |  | 79 |  |  | — |  |  | 664 |  |  | 44 |  |  | 644 |  |  | 3,916 |
Provision (release) |  | 9,075 |  |  | 292 |  |  | 2,284 |  |  | (850) |  |  | 3,943 |  |  | 370 |  |  | 3,308 |  |  | 18,422 |
Ending balance |  | $ | 56,795 |  |  | $ | 9,787 |  |  | $ | 48,989 |  |  | $ | 8,348 |  |  | $ | 15,374 |  |  | $ | 5,463 |  |  | $ | 52,734 |  |  | $ | 197,490 |
Nine months ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for credit losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 49,394 |  |  | $ | 10,719 |  |  | $ | 36,055 |  |  | $ | 10,762 |  |  | $ | 15,170 |  |  | $ | 5,483 |  |  | $ | 58,543 |  |  | $ | 186,126 |
Charge-offs |  | (13,659) |  |  | (177) |  |  | (5,137) |  |  | — |  |  | (15,191) |  |  | (109) |  |  | (18,259) |  |  | (52,532) |
Recoveries |  | 5,983 |  |  | 209 |  |  | 183 |  |  | — |  |  | 2,086 |  |  | 176 |  |  | 1,884 |  |  | 10,521 |
Provision (release) |  | 15,077 |  |  | (964) |  |  | 17,888 |  |  | (2,414) |  |  | 13,309 |  |  | (87) |  |  | 10,566 |  |  | 53,375 |
Ending balance |  | $ | 56,795 |  |  | $ | 9,787 |  |  | $ | 48,989 |  |  | $ | 8,348 |  |  | $ | 15,374 |  |  | $ | 5,463 |  |  | $ | 52,734 |  |  | $ | 197,490 |
Period-end allowance allocated to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans evaluated on an individual basis |  | $ | 8,529 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 8,529 |
Loans evaluated on a collective basis |  | 48,266 |  |  | 9,787 |  |  | 48,989 |  |  | 8,348 |  |  | 15,374 |  |  | 5,463 |  |  | 52,734 |  |  | 188,961 |
Ending balance |  | $ | 56,795 |  |  | $ | 9,787 |  |  | $ | 48,989 |  |  | $ | 8,348 |  |  | $ | 15,374 |  |  | $ | 5,463 |  |  | $ | 52,734 |  |  | $ | 197,490 |
Period-end loan balances: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans evaluated on an individual basis |  | $ | 64,972 |  |  | $ | 6,465 |  |  | $ | 7,449 |  |  | $ | 3,308 |  |  | $ | — |  |  | $ | 8,442 |  |  | $ | 2,981 |  |  | $ | 93,617 |
Loans evaluated on a collective basis |  | 2,574,294 |  |  | 1,997,257 |  |  | 4,141,600 |  |  | 802,549 |  |  | 645,421 |  |  | 929,152 |  |  | 2,135,098 |  |  | 13,225,371 |
Ending balance |  | $ | 2,639,266 |  |  | $ | 2,003,722 |  |  | $ | 4,149,049 |  |  | $ | 805,857 |  |  | $ | 645,421 |  |  | $ | 937,594 |  |  | $ | 2,138,079 |  |  | $ | 13,318,988 |
(1)Period-end loan balance excludes reverse mortgages at fair value of $3.2 million. (2)Includes home equity lines of credit, installment loans, unsecured lines of credit and education loans.
(Dollars in thousands) |  | Commercial and Industrial |  | Owner - occupied Commercial |  | Commercial Mortgages |  | Construction |  | Commercial Small Business Leases |  | Residential(1) |  | Consumer(2) |  | Total
Three months ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for credit losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 52,400 |  |  | $ | 6,335 |  |  | $ | 31,937 |  |  | $ | 9,228 |  |  | $ | 10,383 |  |  | $ | 5,043 |  |  | $ | 56,543 |  |  | $ | 171,869 |
Charge-offs |  | (7,153) |  |  | — |  |  | (300) |  |  | — |  |  | (3,522) |  |  | — |  |  | (5,872) |  |  | (16,847) |
Recoveries |  | 1,640 |  |  | 14 |  |  | 1 |  |  | 1 |  |  | 484 |  |  | 55 |  |  | 357 |  |  | 2,552 |
Provision |  | 4,791 |  |  | 1,501 |  |  | 1,549 |  |  | 2,088 |  |  | 2,647 |  |  | 253 |  |  | 5,585 |  |  | 18,414 |
Ending balance |  | $ | 51,678 |  |  | $ | 7,850 |  |  | $ | 33,187 |  |  | $ | 11,317 |  |  | $ | 9,992 |  |  | $ | 5,351 |  |  | $ | 56,613 |  |  | $ | 175,988 |
Nine months ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 49,526 |  |  | $ | 6,019 |  |  | $ | 21,473 |  |  | $ | 6,987 |  |  | $ | 9,868 |  |  | $ | 4,668 |  |  | $ | 53,320 |  |  | $ | 151,861 |
Charge-offs |  | (20,169) |  |  | (184) |  |  | (300) |  |  | — |  |  | (10,327) |  |  | (33) |  |  | (15,374) |  |  | (46,387) |
Recoveries |  | 4,155 |  |  | 50 |  |  | 4 |  |  | 532 |  |  | 1,399 |  |  | 211 |  |  | 906 |  |  | 7,257 |
Provision |  | 18,166 |  |  | 1,965 |  |  | 12,010 |  |  | 3,798 |  |  | 9,052 |  |  | 505 |  |  | 17,761 |  |  | 63,257 |
Ending balance |  | $ | 51,678 |  |  | $ | 7,850 |  |  | $ | 33,187 |  |  | $ | 11,317 |  |  | $ | 9,992 |  |  | $ | 5,351 |  |  | $ | 56,613 |  |  | $ | 175,988 |
Period-end allowance allocated to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans evaluated on an individual basis |  | $ | 1,054 |  |  | $ | 161 |  |  | $ | — |  |  | $ | 1,600 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,815 |
Loans evaluated on a collective basis |  | 50,624 |  |  | 7,689 |  |  | 33,187 |  |  | 9,717 |  |  | 9,992 |  |  | 5,351 |  |  | 56,613 |  |  | 173,173 |
Ending balance |  | $ | 51,678 |  |  | $ | 7,850 |  |  | $ | 33,187 |  |  | $ | 11,317 |  |  | $ | 9,992 |  |  | $ | 5,351 |  |  | $ | 56,613 |  |  | $ | 175,988 |
Period-end loan balances: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans evaluated on an individual basis |  | $ | 26,355 |  |  | $ | 16,442 |  |  | $ | 7,918 |  |  | $ | 4,828 |  |  | $ | — |  |  | $ | 5,838 |  |  | $ | 1,798 |  |  | $ | 63,179 |
Loans evaluated on a collective basis |  | 2,617,684 |  |  | 1,907,729 |  |  | 3,637,805 |  |  | 1,038,740 |  |  | 605,698 |  |  | 849,502 |  |  | 1,955,284 |  |  | 12,612,442 |
Ending balance |  | $ | 2,644,039 |  |  | $ | 1,924,171 |  |  | $ | 3,645,723 |  |  | $ | 1,043,568 |  |  | $ | 605,698 |  |  | $ | 855,340 |  |  | $ | 1,957,082 |  |  | $ | 12,675,621 |
(1)Period-end loan balance excludes reverse mortgages at fair value of $2.8 million. (2)Includes home equity lines of credit, installment loans, unsecured lines of credit and education loans. The following tables show nonaccrual and past due loans presented at amortized cost at the date indicated:
|  |  |  | September 30, 2024
(Dollars in thousands) |  |  |  | 30–89 Days Past Due and Still Accruing |  | Greater Than 90 Days Past Due and Still Accruing |  | Total Past Due And Still Accruing |  | Accruing Current Balances |  | Nonaccrual Loans With No Allowance |  | Nonaccrual Loans With An Allowance |  | Total Loans
Commercial and industrial |  |  |  | $ | 2,175 |  |  | $ | 867 |  |  | $ | 3,042 |  |  | $ | 2,571,285 |  |  | $ | 41,095 |  |  | $ | 23,844 |  |  | $ | 2,639,266 |
Owner-occupied commercial |  |  |  | 1,719 |  |  | 593 |  |  | 2,312 |  |  | 1,995,256 |  |  | 6,154 |  |  | — |  |  | 2,003,722 |
Commercial mortgages |  |  |  | 7,879 |  |  | 21,835 |  |  | 29,714 |  |  | 4,111,886 |  |  | 7,449 |  |  | — |  |  | 4,149,049 |
Construction |  |  |  | 22,979 |  |  | — |  |  | 22,979 |  |  | 779,570 |  |  | 3,308 |  |  | — |  |  | 805,857 |
Commercial small business leases |  |  |  | 9,237 |  |  | 650 |  |  | 9,887 |  |  | 635,534 |  |  | — |  |  | — |  |  | 645,421 |
Residential(1) |  |  |  | 5,406 |  |  | 15 |  |  | 5,421 |  |  | 927,074 |  |  | 5,099 |  |  | — |  |  | 937,594 |
Consumer(2) |  |  |  | 15,910 |  |  | 7,754 |  |  | 23,664 |  |  | 2,111,325 |  |  | 3,090 |  |  | — |  |  | 2,138,079 |
Total |  |  |  | $ | 65,305 |  |  | $ | 31,714 |  |  | $ | 97,019 |  |  | $ | 13,131,930 |  |  | $ | 66,195 |  |  | $ | 23,844 |  |  | $ | 13,318,988 |
% of Total Loans |  |  |  | 0.49 | % |  | 0.24 | % |  | 0.73 | % |  | 98.59 | % |  | 0.50 | % |  | 0.18 | % |  | 100 | %
(1)Residential accruing current balances excludes reverse mortgages at fair value of $3.2 million. (2)Includes $14.2 million of delinquent, but still accruing, U.S. government-guaranteed student loans that carry little risk of credit loss.
|  | December 31, 2023
(Dollars in thousands) |  | 30–89 Days Past Due and Still Accruing |  | Greater Than 90 Days Past Due and Still Accruing |  | Total Past Due And Still Accruing |  | Accruing Current Balances |  | Nonaccrual Loans With No Allowance(1) |  | Nonaccrual Loans With An Allowance |  | Total Loans
Commercial and industrial |  | $ | 1,630 |  |  | $ | 293 |  |  | $ | 1,923 |  |  | $ | 2,518,934 |  |  | $ | 13,645 |  |  | $ | 5,568 |  |  | $ | 2,540,070 |
Owner-occupied commercial |  | 1,786 |  |  | 487 |  |  | 2,273 |  |  | 1,878,952 |  |  | 4,862 |  |  | — |  |  | 1,886,087 |
Commercial mortgages |  | 1,190 |  |  | — |  |  | 1,190 |  |  | 3,777,698 |  |  | 22,292 |  |  | — |  |  | 3,801,180 |
Construction |  | — |  |  | — |  |  | — |  |  | 1,022,913 |  |  | 12,617 |  |  | — |  |  | 1,035,530 |
Commercial small business leases |  | 6,697 |  |  | 772 |  |  | 7,469 |  |  | 616,153 |  |  | — |  |  | — |  |  | 623,622 |
Residential(2) |  | 9,261 |  |  | — |  |  | 9,261 |  |  | 856,055 |  |  | 2,579 |  |  | — |  |  | 867,895 |
Consumer(3) |  | 15,249 |  |  | 10,032 |  |  | 25,281 |  |  | 1,984,407 |  |  | 2,446 |  |  | — |  |  | 2,012,134 |
Total |  | $ | 35,813 |  |  | $ | 11,584 |  |  | $ | 47,397 |  |  | $ | 12,655,112 |  |  | $ | 58,441 |  |  | $ | 5,568 |  |  | $ | 12,766,518 |
% of Total Loans |  | 0.28 | % |  | 0.09 | % |  | 0.37 | % |  | 99.13 | % |  | 0.46 | % |  | 0.04 | % |  | 100 | %
(1)Excludes nonaccruing loans held-for-sale. (2)Residential accruing current balances excludes reverse mortgages, at fair value of $2.8 million. (3)Includes $14.5 million of delinquent, but still accruing, U.S. government-guaranteed student loans that carry little risk of credit loss. The following table presents the amortized cost basis of nonaccruing collateral-dependent loans by class at September 30, 2024 and December 31, 2023:
|  | September 30, 2024 |  | December 31, 2023
(Dollars in thousands) |  | Property |  |  |  | Equipment and other |  | Property |  |  |  | Equipment and other
Commercial and industrial(1) |  | $ | 42,532 |  |  |  |  | $ | 22,407 |  |  | $ | 17,230 |  |  |  |  | $ | 1,983 |
Owner-occupied commercial |  | 6,154 |  |  |  |  | — |  |  | 4,862 |  |  |  |  | — |
Commercial mortgages |  | 7,449 |  |  |  |  | — |  |  | 22,292 |  |  |  |  | — |
Construction |  | 3,308 |  |  |  |  | — |  |  | 12,617 |  |  |  |  | — |
Residential(2) |  | 5,099 |  |  |  |  | — |  |  | 2,579 |  |  |  |  | — |
Consumer(3) |  | 3,090 |  |  |  |  | — |  |  | 2,446 |  |  |  |  | — |
Total |  | $ | 67,632 |  |  |  |  | $ | 22,407 |  |  | $ | 62,026 |  |  |  |  | $ | 1,983 |
(1)Excludes nonaccruing loans held-for-sale in 2023. (2)Excludes reverse mortgages at fair value. (3)Includes home equity lines of credit. As of September 30, 2024, there were 36 residential loans and 19 commercial loans in the process of foreclosure. The total outstanding balance on these loans was $6.0 million and $8.9 million, respectively. As of December 31, 2023, there were 31 residential loans and 9 commercial loans in the process of foreclosure. The total outstanding balance on these loans was $3.2 million and $1.1 million, respectively. Loan workout and other real estate owned (OREO) expenses (recoveries) were $0.8 million and $0.7 million during the three and nine months ended September 30, 2024, respectively, and $(0.3) million and less than $0.1 million during three and nine months ended September 30, 2023, respectively. Loan workout and OREO expenses are included in Loan workout and other credit costs on the unaudited Consolidated Statements of Income. Credit Quality Indicators Below is a description of each of the risk ratings for all commercial loans: •Pass. These borrowers currently show no indication of deterioration or potential problems and their loans are considered fully collectible. •Special Mention. These borrowers have potential weaknesses that deserve management’s close attention. Borrowers in this category may be experiencing adverse operating trends, for example, declining revenues or margins, high leverage, tight liquidity, or increasing inventory without increasing sales. These adverse trends can have a potential negative effect on the borrower’s repayment capacity. These assets are not adversely classified and do not expose the Bank to significant risk that would warrant a more severe rating. Borrowers in this category may also be experiencing significant management problems, pending litigation, or other structural credit weaknesses. •Substandard or Lower. These borrowers have well-defined weaknesses that require extensive oversight by management. Borrowers in this category may exhibit one or more of the following: inadequate debt service coverage, unprofitable operations, insufficient liquidity, high leverage, and weak or inadequate capitalization. Relationships in this category are not adequately protected by the sound financial worth and paying capacity of the obligor or the collateral pledged on the loan, if any. A distinct possibility exists that the Bank will sustain some loss if the deficiencies are not corrected. In addition, some borrowers in this category could have the added characteristic that the possibility of loss is extremely high. Current circumstances in the credit relationship make collection or liquidation in full highly questionable. Such impending events include: perfecting liens on additional collateral, obtaining collateral valuations, an acquisition or liquidation preceding, proposed merger, or refinancing plan. Residential and Consumer Loans The residential and consumer loan portfolios are monitored on an ongoing basis using delinquency information and loan type as credit quality indicators. These credit quality indicators are assessed in the aggregate in these relatively homogeneous portfolios. Loans that are greater than 90 days past due are generally considered nonperforming and placed on nonaccrual status. The following tables provide an analysis of loans by portfolio segment based on the credit quality indicators used to determine the allowance for credit losses as of September 30, 2024.
|  | Term Loans Amortized Cost Basis by Origination Year(1) |  |  |  |  |  |
(Dollars in thousands) |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  | Revolving loans amortized cost basis |  | Revolving loans converted to term |  | Total
Commercial and industrial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 472,797 |  |  | $ | 662,751 |  |  | $ | 383,695 |  |  | $ | 135,462 |  |  | $ | 162,191 |  |  | $ | 298,797 |  |  | $ | 9,775 |  |  | $ | 242,784 |  |  | $ | 2,368,252 |
Special mention |  | 17,659 |  |  | 3,913 |  |  | 4,979 |  |  | 2,744 |  |  | 2,670 |  |  | 1,195 |  |  | — |  |  | 15,899 |  |  | 49,059 |
Substandard or Lower |  | 71,171 |  |  | 41,898 |  |  | 29,621 |  |  | 5,987 |  |  | 4,896 |  |  | 38,620 |  |  | 70 |  |  | 29,692 |  |  | 221,955 |
|  | $ | 561,627 |  |  | $ | 708,562 |  |  | $ | 418,295 |  |  | $ | 144,193 |  |  | $ | 169,757 |  |  | $ | 338,612 |  |  | $ | 9,845 |  |  | $ | 288,375 |  |  | $ | 2,639,266 |
Current-period gross writeoffs |  | $ | — |  |  | $ | 1,081 |  |  | $ | 3,782 |  |  | $ | 585 |  |  | $ | 275 |  |  | $ | 7,936 |  |  | $ | — |  |  | $ | — |  |  | $ | 13,659 |
Owner-occupied commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 222,614 |  |  | $ | 313,975 |  |  | $ | 211,697 |  |  | $ | 230,312 |  |  | $ | 171,898 |  |  | $ | 430,446 |  |  | $ | — |  |  | $ | 252,832 |  |  | $ | 1,833,774 |
Special mention |  | 10,530 |  |  | 1,948 |  |  | 20,157 |  |  | 1,300 |  |  | 25,677 |  |  | 5,324 |  |  | — |  |  | 2,310 |  |  | 67,246 |
Substandard or Lower |  | — |  |  | 5,183 |  |  | 23,193 |  |  | 10,720 |  |  | 5,319 |  |  | 46,546 |  |  | — |  |  | 11,741 |  |  | 102,702 |
|  | $ | 233,144 |  |  | $ | 321,106 |  |  | $ | 255,047 |  |  | $ | 242,332 |  |  | $ | 202,894 |  |  | $ | 482,316 |  |  | $ | — |  |  | $ | 266,883 |  |  | $ | 2,003,722 |
Current-period gross writeoffs |  | $ | — |  |  | $ | 114 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 63 |  |  | $ | — |  |  | $ | — |  |  | $ | 177 |
Commercial mortgages: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 448,085 |  |  | $ | 747,896 |  |  | $ | 524,510 |  |  | $ | 437,941 |  |  | $ | 407,068 |  |  | $ | 917,704 |  |  | $ | — |  |  | $ | 465,513 |  |  | $ | 3,948,717 |
Special mention |  | 3,946 |  |  | 18,781 |  |  | 16,100 |  |  | 5,743 |  |  | 2,655 |  |  | 2,309 |  |  | — |  |  | 36,825 |  |  | 86,359 |
Substandard or Lower |  | 32,205 |  |  | 28,132 |  |  | 930 |  |  | 130 |  |  | 25,105 |  |  | 26,739 |  |  | — |  |  | 732 |  |  | 113,973 |
|  | $ | 484,236 |  |  | $ | 794,809 |  |  | $ | 541,540 |  |  | $ | 443,814 |  |  | $ | 434,828 |  |  | $ | 946,752 |  |  | $ | — |  |  | $ | 503,070 |  |  | $ | 4,149,049 |
Current-period gross writeoffs |  | $ | — |  |  | $ | 62 |  |  | $ | — |  |  | $ | — |  |  | $ | 97 |  |  | $ | 4,978 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,137 |
Construction: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 247,244 |  |  | $ | 289,273 |  |  | $ | 173,141 |  |  | $ | 7,798 |  |  | $ | 88 |  |  | $ | 2,241 |  |  | $ | — |  |  | $ | 29,014 |  |  | $ | 748,799 |
Special mention |  | 2,200 |  |  | — |  |  | 3,400 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 5,600 |
Substandard or Lower |  | 1,743 |  |  | 24,809 |  |  | 20,779 |  |  | 3,439 |  |  | — |  |  | 142 |  |  | — |  |  | 546 |  |  | 51,458 |
|  | $ | 251,187 |  |  | $ | 314,082 |  |  | $ | 197,320 |  |  | $ | 11,237 |  |  | $ | 88 |  |  | $ | 2,383 |  |  | $ | — |  |  | $ | 29,560 |  |  | $ | 805,857 |
Current-period gross writeoffs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Commercial small business leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 193,681 |  |  | $ | 207,734 |  |  | $ | 138,351 |  |  | $ | 67,168 |  |  | $ | 20,199 |  |  | $ | 18,288 |  |  | $ | — |  |  | $ | — |  |  | $ | 645,421 |
Nonperforming |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
|  | $ | 193,681 |  |  | $ | 207,734 |  |  | $ | 138,351 |  |  | $ | 67,168 |  |  | $ | 20,199 |  |  | $ | 18,288 |  |  | $ | — |  |  | $ | — |  |  | $ | 645,421 |
Current-period gross writeoffs |  | $ | 409 |  |  | $ | 3,903 |  |  | $ | 6,391 |  |  | $ | 2,965 |  |  | $ | 1,069 |  |  | $ | 454 |  |  | $ | — |  |  | $ | — |  |  | $ | 15,191 |
Residential(2): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 124,092 |  |  | $ | 181,135 |  |  | $ | 63,356 |  |  | $ | 93,860 |  |  | $ | 51,527 |  |  | $ | 415,006 |  |  | $ | — |  |  | $ | — |  |  | $ | 928,976 |
Nonperforming |  | — |  |  | 121 |  |  | 362 |  |  | 3,473 |  |  | 857 |  |  | 3,805 |  |  | — |  |  | — |  |  | 8,618 |
|  | $ | 124,092 |  |  | $ | 181,256 |  |  | $ | 63,718 |  |  | $ | 97,333 |  |  | $ | 52,384 |  |  | $ | 418,811 |  |  | $ | — |  |  | $ | — |  |  | $ | 937,594 |
Current-period gross writeoffs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 109 |  |  | $ | — |  |  | $ | — |  |  | $ | 109 |
Consumer(3): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 247,462 |  |  | $ | 377,635 |  |  | $ | 475,078 |  |  | $ | 125,151 |  |  | $ | 89,903 |  |  | $ | 273,693 |  |  | $ | 540,062 |  |  | $ | 6,114 |  |  | $ | 2,135,098 |
Nonperforming |  | — |  |  | 249 |  |  | 96 |  |  | 267 |  |  | 196 |  |  | 27 |  |  | 1,843 |  |  | 303 |  |  | 2,981 |
|  | $ | 247,462 |  |  | $ | 377,884 |  |  | $ | 475,174 |  |  | $ | 125,418 |  |  | $ | 90,099 |  |  | $ | 273,720 |  |  | $ | 541,905 |  |  | $ | 6,417 |  |  | $ | 2,138,079 |
Current-period gross writeoffs |  | $ | 891 |  |  | $ | 2,575 |  |  | $ | 11,318 |  |  | $ | 2,241 |  |  | $ | 785 |  |  | $ | 449 |  |  | $ | — |  |  | $ | — |  |  | $ | 18,259 |
(1)Origination date represents the most recent underwriting of the loan which includes new relationships, renewals and extensions. (2)Excludes reverse mortgages at fair value. (3)Includes home equity lines of credit, installment loans, unsecured lines of credit and education loans. The following tables provide an analysis of loans by portfolio segment based on the credit quality indicators used to determine the allowance for credit losses as of December 31, 2023.
|  | Term Loans Amortized Cost Basis by Origination Year(1) |  |  |  |  |  |
(Dollars in thousands) |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  | Revolving loans amortized cost basis |  | Revolving loans converted to term |  | Total
Commercial and industrial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 716,848 |  |  | $ | 490,934 |  |  | $ | 180,343 |  |  | $ | 211,151 |  |  | $ | 90,522 |  |  | $ | 383,609 |  |  | $ | 8,785 |  |  | $ | 237,786 |  |  | $ | 2,319,978 |
Special mention |  | 7,209 |  |  | 11,860 |  |  | 2,804 |  |  | 463 |  |  | 735 |  |  | 743 |  |  | — |  |  | 1,649 |  |  | 25,463 |
Substandard or Lower |  | 72,993 |  |  | 54,024 |  |  | 5,951 |  |  | 10,224 |  |  | 22,046 |  |  | 17,906 |  |  | — |  |  | 11,485 |  |  | 194,629 |
|  | $ | 797,050 |  |  | $ | 556,818 |  |  | $ | 189,098 |  |  | $ | 221,838 |  |  | $ | 113,303 |  |  | $ | 402,258 |  |  | $ | 8,785 |  |  | $ | 250,920 |  |  | $ | 2,540,070 |
Current-period gross writeoffs |  | $ | — |  |  | $ | 568 |  |  | $ | 5,214 |  |  | $ | 1,747 |  |  | $ | 7,567 |  |  | $ | 11,557 |  |  | $ | — |  |  | $ | — |  |  | $ | 26,653 |
Owner-occupied commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 346,908 |  |  | $ | 264,895 |  |  | $ | 251,262 |  |  | $ | 212,365 |  |  | $ | 194,153 |  |  | $ | 313,801 |  |  | $ | — |  |  | $ | 178,150 |  |  | $ | 1,761,534 |
Special mention |  | 2,885 |  |  | 3,115 |  |  | 5,419 |  |  | 1,105 |  |  | 11,002 |  |  | 5,559 |  |  | — |  |  | 1,393 |  |  | 30,478 |
Substandard or Lower |  | 996 |  |  | 18,865 |  |  | 11,109 |  |  | 6,787 |  |  | 8,019 |  |  | 35,330 |  |  | — |  |  | 12,969 |  |  | 94,075 |
|  | $ | 350,789 |  |  | $ | 286,875 |  |  | $ | 267,790 |  |  | $ | 220,257 |  |  | $ | 213,174 |  |  | $ | 354,690 |  |  | $ | — |  |  | $ | 192,512 |  |  | $ | 1,886,087 |
Current-period gross writeoffs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 184 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 184 |
Commercial mortgages: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 847,137 |  |  | $ | 464,895 |  |  | $ | 526,280 |  |  | $ | 465,354 |  |  | $ | 486,855 |  |  | $ | 619,448 |  |  | $ | — |  |  | $ | 290,083 |  |  | $ | 3,700,052 |
Special mention |  | 20,632 |  |  | — |  |  | 67 |  |  | 1,837 |  |  | 10,666 |  |  | — |  |  | — |  |  | — |  |  | 33,202 |
Substandard or Lower |  | 9,862 |  |  | 1,153 |  |  | 1,047 |  |  | 13,837 |  |  | 14,352 |  |  | 12,212 |  |  | — |  |  | 15,463 |  |  | 67,926 |
|  | $ | 877,631 |  |  | $ | 466,048 |  |  | $ | 527,394 |  |  | $ | 481,028 |  |  | $ | 511,873 |  |  | $ | 631,660 |  |  | $ | — |  |  | $ | 305,546 |  |  | $ | 3,801,180 |
Current-period gross writeoffs |  | $ | — |  |  | $ | 83 |  |  | $ | — |  |  | $ | 217 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 300 |
Construction: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 429,055 |  |  | $ | 319,958 |  |  | $ | 111,333 |  |  | $ | 3,030 |  |  | $ | 388 |  |  | $ | 7,016 |  |  | $ | — |  |  | $ | 87,741 |  |  | $ | 958,521 |
Special mention |  | 28,718 |  |  | 19,769 |  |  | 8,227 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 56,714 |
Substandard or Lower |  | 5,698 |  |  | — |  |  | 3,308 |  |  | 8,598 |  |  | 2,134 |  |  | — |  |  | — |  |  | 557 |  |  | 20,295 |
|  | $ | 463,471 |  |  | $ | 339,727 |  |  | $ | 122,868 |  |  | $ | 11,628 |  |  | $ | 2,522 |  |  | $ | 7,016 |  |  | $ | — |  |  | $ | 88,298 |  |  | $ | 1,035,530 |
Current-period gross writeoffs |  | $ | — |  |  | $ | — |  |  | $ | 794 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 794 |
Commercial small business leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 260,348 |  |  | $ | 191,746 |  |  | $ | 103,428 |  |  | $ | 40,697 |  |  | $ | 15,411 |  |  | $ | 11,992 |  |  | $ | — |  |  | $ | — |  |  | $ | 623,622 |
Nonperforming |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
|  | $ | 260,348 |  |  | $ | 191,746 |  |  | $ | 103,428 |  |  | $ | 40,697 |  |  | $ | 15,411 |  |  | $ | 11,992 |  |  | $ | — |  |  | $ | — |  |  | $ | 623,622 |
Current-period gross writeoffs |  | $ | 1,528 |  |  | $ | 7,250 |  |  | $ | 4,447 |  |  | $ | 1,454 |  |  | $ | 735 |  |  | $ | 227 |  |  | $ | — |  |  | $ | — |  |  | $ | 15,641 |
Residential(2): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 188,644 |  |  | $ | 67,358 |  |  | $ | 102,982 |  |  | $ | 57,273 |  |  | $ | 33,499 |  |  | $ | 412,099 |  |  | $ | — |  |  | $ | — |  |  | $ | 861,855 |
Nonperforming |  | — |  |  | 170 |  |  | 713 |  |  | 486 |  |  | 1,251 |  |  | 3,420 |  |  | — |  |  | — |  |  | 6,040 |
|  | $ | 188,644 |  |  | $ | 67,528 |  |  | $ | 103,695 |  |  | $ | 57,759 |  |  | $ | 34,750 |  |  | $ | 415,519 |  |  | $ | — |  |  | $ | — |  |  | $ | 867,895 |
Current-period gross writeoffs |  | $ | 33 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 8 |  |  | $ | — |  |  | $ | — |  |  | $ | 41 |
Consumer(3): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 391,580 |  |  | $ | 568,919 |  |  | $ | 153,930 |  |  | $ | 104,248 |  |  | $ | 44,996 |  |  | $ | 245,849 |  |  | $ | 494,663 |  |  | $ | 5,662 |  |  | $ | 2,009,847 |
Nonperforming |  | — |  |  | — |  |  | 135 |  |  | 352 |  |  | 176 |  |  | 30 |  |  | 1,362 |  |  | 232 |  |  | 2,287 |
|  | $ | 391,580 |  |  | $ | 568,919 |  |  | $ | 154,065 |  |  | $ | 104,600 |  |  | $ | 45,172 |  |  | $ | 245,879 |  |  | $ | 496,025 |  |  | $ | 5,894 |  |  | $ | 2,012,134 |
Current-period gross writeoffs |  | $ | 1,790 |  |  | $ | 15,227 |  |  | $ | 4,411 |  |  | $ | 313 |  |  | $ | 198 |  |  | $ | 455 |  |  | $ | — |  |  | $ | — |  |  | $ | 22,394 |
(1)Origination date represents the most recent underwriting of the loan which includes new relationships, renewals and extensions. (2)Excludes reverse mortgages at fair value. (3)Includes home equity lines of credit, installment loans, unsecured lines of credit and education loans. Troubled Loans The Company offers loan modifications to commercial and consumer borrowers that may result in a payment delay, interest rate reduction, term extension, principal forgiveness, or combination thereof. Loan modifications are offered on a case-by-case basis and are generally term extension, payment delay, and interest rate reduction modification types. Forbearance (due to hardship) programs result in modification types including payment delay and/or term extension. In addition, certain reorganization bankruptcy judgments may result in interest rate reduction, term extension, or principal forgiveness modification types. The following tables show the period-end amortized cost basis of troubled loans modified during the three and nine months ended September 30, 2024 and 2023, disaggregated by portfolio segment and type of modification granted:
|  | Three Months Ended September 30, 2024
(Dollars in thousands) |  | Term Extension |  |  |  | Interest Rate Reduction |  | More-Than-Insignificant Payment Delay |  | Combination- Term Extension and Payment Delay |  | Combination- Term Extension and Interest Rate Reduction |  |  |  | Total |  | % of Total Loan Category
Commercial and industrial |  | $ | 7,021 |  |  |  |  | $ | — |  |  | $ | 15,157 |  |  | $ | — |  |  | $ | 28 |  |  |  |  | $ | 22,206 |  |  | 0.84 | %
Commercial mortgages |  | 14,557 |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | 14,557 |  |  | 0.35 | %
Construction |  | 18,120 |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | 18,120 |  |  | 2.25 | %
Residential |  | — |  |  |  |  | 121 |  |  | 25 |  |  | — |  |  | — |  |  |  |  | 146 |  |  | 0.02 | %
Consumer(1) |  | 307 |  |  |  |  | — |  |  | 879 |  |  | 1,234 |  |  | — |  |  |  |  | 2,420 |  |  | 0.11 | %
Total |  | $ | 40,005 |  |  |  |  | $ | 121 |  |  | $ | 16,061 |  |  | $ | 1,234 |  |  | $ | 28 |  |  |  |  | $ | 57,449 |  |  | 0.43 | %
|  | Nine Months Ended September 30, 2024
(Dollars in thousands) |  | Term Extension |  |  |  | Interest Rate Reduction |  | More-Than-Insignificant Payment Delay |  | Combination- Term Extension and Payment Delay |  | Combination- Term Extension and Interest Rate Reduction |  |  |  | Total |  | % of Total Loan Category
Commercial and industrial |  | $ | 66,728 |  |  |  |  | $ | — |  |  | $ | 16,028 |  |  | $ | 755 |  |  | $ | 28 |  |  |  |  | $ | 83,539 |  |  | 3.17 | %
Commercial mortgages |  | 14,557 |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | 14,557 |  |  | 0.35 | %
Construction |  | 21,294 |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | 21,294 |  |  | 2.64 | %
Residential |  | — |  |  |  |  | 121 |  |  | 25 |  |  | — |  |  | — |  |  |  |  | 146 |  |  | 0.02 | %
Consumer(1) |  | 717 |  |  |  |  | — |  |  | 1,897 |  |  | 3,406 |  |  | — |  |  |  |  | 6,020 |  |  | 0.28 | %
Total |  | $ | 103,296 |  |  |  |  | $ | 121 |  |  | $ | 17,950 |  |  | $ | 4,161 |  |  | $ | 28 |  |  |  |  | $ | 125,556 |  |  | 0.94 | %
(1)Includes home equity lines of credit, installment loans and unsecured lines of credit.
|  | Three months ended September 30, 2023
(Dollars in thousands) |  | Term Extension |  |  |  |  |  | More-Than-Insignificant Payment Delay |  | Combination- Term Extension and Payment Delay |  | Combination- Term Extension and Interest Rate Reduction |  | Combination - Payment Delay and Interest Rate Reduction |  | Total |  | % of Total Loan Category
Commercial and industrial |  | $ | 23,972 |  |  |  |  |  |  | $ | 1,193 |  |  | $ | — |  |  | $ | 31 |  |  | $ | — |  |  | $ | 25,196 |  |  | 0.95 | %
Owner-occupied commercial |  | 67 |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 67 |  |  | — | %
Construction |  | 9,194 |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 9,194 |  |  | 0.88 | %
Residential |  | 563 |  |  |  |  |  |  | 50 |  |  | — |  |  | — |  |  | — |  |  | 613 |  |  | 0.07 | %
Consumer(1) |  | 392 |  |  |  |  |  |  | 1,687 |  |  | 3,291 |  |  | — |  |  | 300 |  |  | 5,670 |  |  | 0.29 | %
Total |  | $ | 34,188 |  |  |  |  |  |  | $ | 2,930 |  |  | $ | 3,291 |  |  | $ | 31 |  |  | $ | 300 |  |  | $ | 40,740 |  |  | 0.32 | %
|  | Nine Months Ended September 30, 2023
(Dollars in thousands) |  | Term Extension |  |  |  |  |  | More-Than-Insignificant Payment Delay |  | Combination- Term Extension and Payment Delay |  | Combination- Term Extension and Interest Rate Reduction |  | Combination - Payment Delay and Interest Rate Reduction |  | Total |  | % of Total Loan Category
Commercial and industrial |  | $ | 36,683 |  |  |  |  |  |  | $ | 1,193 |  |  | $ | 10,163 |  |  | $ | 31 |  |  | $ | — |  |  | $ | 48,070 |  |  | 1.48 | %
Owner-occupied commercial |  | — |  |  |  |  |  |  | — |  |  | 1,062 |  |  | 209 |  |  | — |  |  | 1,271 |  |  | 0.07 | %
Commercial mortgages |  | 9,427 |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 9,427 |  |  | 0.26 | %
Construction |  | 9,194 |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 9,194 |  |  | 0.88 | %
Residential |  | 563 |  |  |  |  |  |  | 50 |  |  | — |  |  | — |  |  | — |  |  | 613 |  |  | 0.07 | %
Consumer(1) |  | 1,102 |  |  |  |  |  |  | 2,704 |  |  | 5,154 |  |  | 157 |  |  | 494 |  |  | 9,611 |  |  | 0.49 | %
Total |  | $ | 56,969 |  |  |  |  |  |  | $ | 3,947 |  |  | $ | 16,379 |  |  | $ | 397 |  |  | $ | 494 |  |  | $ | 78,186 |  |  | 0.62 | %
(1)Includes home equity lines of credit, installment loans and unsecured lines of credit. The following table describes the financial effect of the modifications made to troubled loans during the three and nine months ended September 30, 2024 and 2023:
|  | Three Months Ended September 30, 2024 |  | Nine Months Ended September 30, 2024
|  | Term Extension(1) |  |  |  | Interest Rate Reduction(2) |  | More-Than-Insignificant Payment Delay(3) |  | Term Extension(1) |  |  |  | Interest Rate Reduction(2) |  | More-Than-Insignificant Payment Delay(3)
Commercial and industrial |  | 0.31 |  |  |  | 6.11% |  | 0.11% |  | 0.90 |  |  |  | 6.11% |  | 0.13%
Commercial mortgages |  | 0.45 |  |  |  | — |  | — |  | 0.45 |  |  |  | — |  | —
Construction |  | 0.17 |  |  |  | — |  | — |  | 0.37 |  |  |  | — |  | —
Residential |  | — |  |  |  | 4.25 |  | — |  | — |  |  |  | 4.25 |  | —
Consumer |  | 0.49 |  |  |  | — |  | 0.02 |  | 0.48 |  |  |  | — |  | 0.04
|  | Three Months Ended September 30, 2023 |  | Nine Months Ended September 30, 2023
|  | Term Extension(1) |  |  |  | Interest Rate Reduction(2) |  | More-Than-Insignificant Payment Delay(3) |  | Term Extension(1) |  |  |  | Interest Rate Reduction(2) |  | More-Than-Insignificant Payment Delay(3)
Commercial and industrial |  | 1.80 |  |  |  | 4.00% |  | 0.09% |  | 1.55 |  |  |  | 4.00% |  | 0.09%
Owner-occupied commercial |  | 0.92 |  |  |  | — |  | — |  | 1.27 |  |  |  | 2.58 |  | 0.01
Commercial mortgages |  | — |  |  |  | — |  | — |  | 1.33 |  |  |  | — |  | —
Construction |  | 0.27 |  |  |  | — |  | — |  | 0.27 |  |  |  | — |  | —
Residential |  | 20.18 |  |  |  | — |  | — |  | 20.18 |  |  |  | — |  | —
Consumer |  | 0.39 |  |  |  | 4.00 |  | 0.04 |  | 3.07 |  |  |  | 3.27 |  | 0.07
(1)Represents the weighted-average increase in the life of modified loans measured in years, which reduces monthly payment amounts for borrowers. (2)Represents the weighted-average decrease in the contractual interest rate on the modified loans. (3)Represents the percentage of loans deferred over the total loan portfolio excluding reverse mortgages at fair value. As of September 30, 2024 and December 31, 2023, the Company had commitments to extend credit of $26.0 million and $18.4 million, respectively, to borrowers experiencing financial difficulty whose terms had been modified. Upon the Company’s determination that a modified loan (or portion of a loan) has subsequently been deemed uncollectible, the loan (or a portion of the loan) is written off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the allowance for credit losses is adjusted by the same amount. The following tables show the amortized cost of loans that received a modification that had a payment default during the three and nine months ended September 30, 2024 and 2023 and were modified in the 12 months before default to borrowers experiencing financial difficulty.
|  | Three Months Ended September 30, 2024
|  | Term Extension |  | Interest Rate Reduction |  |  |  | More-Than-Insignificant Payment Delay |  |  |  |  |  |  |  | Total
Commercial and industrial |  | $ | 19,176 |  |  | $ | — |  |  |  |  | $ | 14,997 |  |  |  |  |  |  |  |  | $ | 34,173 |
Residential |  | — |  |  | 121 |  |  |  |  | — |  |  |  |  |  |  |  |  | 121 |
Consumer |  | — |  |  | — |  |  |  |  | 96 |  |  |  |  |  |  |  |  | 96 |
Total |  | $ | 19,176 |  |  | $ | 121 |  |  |  |  | $ | 15,093 |  |  |  |  |  |  |  |  | $ | 34,390 |
|  | Nine Months Ended September 30, 2024
|  | Term Extension |  | Interest Rate Reduction |  |  |  | More-Than-Insignificant Payment Delay |  |  |  |  |  |  |  | Total
Commercial and industrial |  | $ | 34,341 |  |  | $ | — |  |  |  |  | $ | 14,997 |  |  |  |  |  |  |  |  | $ | 49,338 |
Residential |  | — |  |  | 121 |  |  |  |  | — |  |  |  |  |  |  |  |  | 121 |
Consumer |  | — |  |  | — |  |  |  |  | 96 |  |  |  |  |  |  |  |  | 96 |
Total |  | $ | 34,341 |  |  | $ | 121 |  |  |  |  | $ | 15,093 |  |  |  |  |  |  |  |  | $ | 49,555 |
|  | Three Months Ended September 30, 2023
|  | Term Extension |  |  |  |  |  | More-Than-Insignificant Payment Delay |  | Combination Term Extension & Payment Delay |  |  |  |  |  | Total
Commercial and industrial |  | $ | 707 |  |  |  |  |  |  | $ | — |  |  | $ | 10,163 |  |  |  |  |  |  | $ | 10,870 |
Owner-occupied commercial |  | — |  |  |  |  |  |  | — |  |  | 1,062 |  |  |  |  |  |  | 1,062 |
Consumer |  | $ | — |  |  |  |  |  |  | $ | 101 |  |  | $ | — |  |  |  |  |  |  | $ | 101 |
Total |  | $ | 707 |  |  |  |  |  |  | $ | 101 |  |  | $ | — |  |  |  |  |  |  | $ | 12,033 |
|  | Nine Months Ended September 30, 2023
|  | Term Extension |  |  |  |  |  | More-Than-Insignificant Payment Delay |  | Combination Term Extension & Payment Delay |  |  |  |  |  | Total
Commercial and industrial |  | $ | 707 |  |  |  |  |  |  | $ | — |  |  | $ | 10,163 |  |  |  |  |  |  | $ | 10,870 |
Owner-occupied commercial |  | — |  |  |  |  |  |  | — |  |  | 1,062 |  |  |  |  |  |  | 1,062 |
Consumer |  | — |  |  |  |  |  |  | 101 |  |  | — |  |  |  |  |  |  | 101 |
Total |  | $ | 707 |  |  |  |  |  |  | $ | 101 |  |  | $ | 11,225 |  |  |  |  |  |  | $ | 12,033 |
The Company closely monitors the performance of troubled loans to understand the effectiveness of its modification efforts. The following tables show the performance of loans that have been modified in the last 12 months as of September 30, 2024 and 2023:
|  | September 30, 2024
(Dollars in thousands) |  | 30-89 Days Past Due and Still Accruing |  | 90+ Days Past Due and Still Accruing |  | Accruing Current Balances |  | Nonaccrual Loans |  | Total
Commercial and industrial |  | $ | — |  |  | $ | — |  |  | $ | 63,410 |  |  | $ | 44,121 |  |  | $ | 107,531 |
Commercial mortgages |  | — |  |  | — |  |  | 30,001 |  |  | — |  |  | 30,001 |
Construction |  | — |  |  | — |  |  | 21,294 |  |  | — |  |  | 21,294 |
Residential |  | — |  |  | — |  |  | — |  |  | 309 |  |  | 309 |
Consumer(1) |  | 908 |  |  | 382 |  |  | 6,147 |  |  | 182 |  |  | 7,619 |
Total |  | $ | 908 |  |  | $ | 382 |  |  | $ | 120,852 |  |  | $ | 44,612 |  |  | $ | 166,754 |
(1)Includes home equity lines of credit, installment loans and unsecured lines of credit.
|  | September 30, 2023
|  | 30-89 Days Past Due and Still Accruing |  | 90+ Days Past Due and Still Accruing |  | Accruing Current Balances |  | Nonaccrual Loans |  | Total
Commercial and industrial |  | $ | 428 |  |  | $ | — |  |  | $ | 36,299 |  |  | $ | 11,343 |  |  | $ | 48,070 |
Owner-occupied commercial |  | — |  |  | — |  |  | — |  |  | 1,271 |  |  | 1,271 |
Commercial mortgages |  | — |  |  | — |  |  | 9,427 |  |  | — |  |  | 9,427 |
Construction |  | 8,285 |  |  | — |  |  | 909 |  |  | — |  |  | 9,194 |
Residential |  | — |  |  | — |  |  | 613 |  |  | — |  |  | 613 |
Consumer(1) |  | 727 |  |  | 207 |  |  | 8,277 |  |  | 400 |  |  | 9,611 |
Total |  | $ | 9,440 |  |  | $ | 207 |  |  | $ | 55,525 |  |  | $ | 13,014 |  |  | $ | 78,186 |
(1)Includes home equity lines of credit, installment loans and unsecured lines of credit.

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