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Loans and Allowance for Credit Losses | 3 Months Ended
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Mar. 31, 2022
Receivables [Abstract] |
Loans and Allowance for Credit Losses | Loans and allowance for credit losses: Loans outstanding as of March 31, 2022 and December 31, 2021, by class of financing receivable are as follows:
|  | March 31, |  | December 31,
|  | 2022 |  |  | 2021 |
Commercial and industrial (1) |  | $ | 1,380,600 |  |  | $ | 1,290,565 |
Construction |  | 1,468,811 |  |  | 1,327,659 |
Residential real estate: |  |  |  |
1-to-4 family mortgage |  | 1,346,349 |  |  | 1,270,467 |
Residential line of credit |  | 392,740 |  |  | 383,039 |
Multi-family mortgage |  | 400,501 |  |  | 326,551 |
Commercial real estate: |  |  |  |
Owner occupied |  | 978,436 |  |  | 951,582 |
Non-owner occupied |  | 1,706,546 |  |  | 1,730,165 |
Consumer and other |  | 330,993 |  |  | 324,634 |
Gross loans |  | 8,004,976 |  |  | 7,604,662 |
Less: Allowance for credit losses |  | (120,049) |  |  | (125,559) |
Net loans |  | $ | 7,884,927 |  |  | $ | 7,479,103 |
(1)Includes $2,062 and $3,990 of loans originated as part of the Paycheck Protection Program as of March 31, 2022 and December 31, 2021, respectively. PPP loans are federally guaranteed as part of the CARES Act, provided PPP loan recipients receive loan forgiveness under the SBA regulations. As such, there is minimal credit risk associated with these loans. As of March 31, 2022 and December 31, 2021, $1,001,027 and $1,136,294, respectively, of qualifying residential mortgage loans (including loans held for sale) and $1,530,928 and $1,581,673, respectively, of qualifying commercial mortgage loans were pledged to the Federal Home Loan Bank of Cincinnati securing advances against the Bank’s line of credit. Additionally, as of March 31, 2022 and December 31, 2021, qualifying loans of $2,719,096 and $2,440,097, respectively, were pledged to the Federal Reserve Bank under the Borrower-in-Custody program. The components of amortized cost for loans on the consolidated balance sheets exclude accrued interest receivable as the Company presents accrued interest receivable separately on the balance sheet. As of March 31, 2022 and December 31, 2021, accrued interest receivable on loans held for investment was $31,746 and $31,676, respectively. Allowance for Credit Losses The Company calculates its expected credit loss using a lifetime loss rate methodology. The Company utilizes probability-weighted forecasts, which consider multiple macroeconomic variables from a third-party vendor that are applicable to the type of loan. Each of the Company's loss rate models incorporate forward-looking macroeconomic projections throughout the reasonable and supportable forecast period and the subsequent historical reversion at the macroeconomic variable input level. In order to estimate the life of a loan, the contractual term of the loan is adjusted for estimated prepayments based on market information and the Company’s prepayment history. The Company's loss rate models estimate the lifetime loss rate for pools of loans by combining the calculated loss rate based on each variable within the model (including the macroeconomic variables). The lifetime loss rate for the pool is then multiplied by the loan balances to determine the expected credit losses on the pool. The Company considers the need to qualitatively adjust its modeled quantitative expected credit loss estimate for information not already captured in the model loss estimation process. These qualitative factor adjustments may increase or decrease the Company’s estimate of expected credit losses. The Company reviews the qualitative adjustments so as to validate that information that has already been considered and included in the modeled quantitative loss estimation process is not also included in the qualitative adjustment. The Company considers the qualitative factors that are relevant to the institution as of the reporting date, which may include, but are not limited to: levels of and trends in delinquencies and performance of loans; levels of and trends in write-offs and recoveries collected; trends in volume and terms of loans; effects of any changes in reasonable and supportable economic forecasts; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures, and practices; experience, ability, and depth of lending management and expertise; available relevant information sources that contradict the Company’s own forecast; effects of changes in prepayment expectations or other factors affecting assessments of loan contractual terms; industry conditions; and effects of changes in credit concentrations. The quantitative models require loan data and macroeconomic variables based on the inherent credit risks in each portfolio to more accurately measure the credit risks associated with each. Each of the quantitative models pools loans with similar risk characteristics and collectively assesses the lifetime loss rate for each pool to estimate its expected credit loss. When a loan no longer shares similar risk characteristics with other loans in any given pool, the loan is individually assessed. The Company has determined the following circumstances in which a loan may require an individual evaluation: collateral dependent loans; loans for which foreclosure is probable; and loans with other unique risk characteristics. A loan is deemed collateral dependent when 1) the borrower is experiencing financial difficulty and 2) the repayment is expected to be primarily through sale or operation of the collateral. The allowance for credit losses for collateral dependent loans as well as loans where foreclosure is probable is calculated as the amount for which the loan’s amortized cost basis exceeds fair value. Fair value is determined based on appraisals performed by qualified appraisers and reviewed by qualified personnel. In cases where repayment is to be provided substantially through the sale of collateral, the Company reduces the fair value by the estimated costs to sell. Loans experiencing financial difficulty for which a concession has not yet been provided may be identified as reasonably expected TDRs. Reasonably expected TDRs and TDRs use the same methodology. In cases where the expected credit loss can only be captured through a discounted cash flow analysis (such as an interest rate modification for a TDR loan), the allowance is measured by the amount which the loan’s amortized cost exceeds the discounted cash flow analysis. The Company performed qualitative evaluations within the Company's established qualitative framework, weighting the impact of the current economic outlook (including inflation, employment and supply chain concerns), status of federal government stimulus programs, and other considerations, in order to identify specific industries or borrowers seeing credit improvement or deterioration specific to the COVID-19 pandemic. The decrease in estimated required reserve during the three months ended March 31, 2022 was a result of improving macroeconomic variables incorporated into the Company's reasonable and supportable forecasts when compared to December 31, 2021. The following tables provide the changes in the allowance for credit losses by class of financing receivable for the three months ended March 31, 2022 and 2021:
|  | Commercial and industrial |  | Construction |  | 1-to-4 family residential mortgage |  | Residential line of credit |  | Multi-family residential mortgage |  | Commercial real estate owner occupied |  | Commercial real estate non-owner occupied |  | Consumer and other |  | Total
Three Months Ended March 31, 2022
Beginning balance - December 31, 2021 |  | $ | 15,751 |  |  | $ | 28,576 |  |  | $ | 19,104 |  |  | $ | 5,903 |  |  | $ | 6,976 |  |  | $ | 12,593 |  |  | $ | 25,768 |  |  | $ | 10,888 |  |  | $ | 125,559 |
Provision for credit losses |  | (4,006) |  |  | 3,206 |  |  | 1,908 |  |  | 641 |  |  | (578) |  |  | (4,187) |  |  | (4,478) |  |  | 1,365 |  |  | (6,129) |
Recoveries of loans previously charged-off |  | 958 |  |  | — |  |  | 12 |  |  | 1 |  |  | — |  |  | 10 |  |  | — |  |  | 217 |  |  | 1,198 |
Loans charged off |  | (4) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (575) |  |  | (579) |
Ending balance - March 31, 2022 |  | $ | 12,699 |  |  | $ | 31,782 |  |  | $ | 21,024 |  |  | $ | 6,545 |  |  | $ | 6,398 |  |  | $ | 8,416 |  |  | $ | 21,290 |  |  | $ | 11,895 |  |  | $ | 120,049 |
|  | Commercial and industrial |  | Construction |  | 1-to-4 family residential mortgage |  | Residential line of credit |  | Multi-family residential mortgage |  | Commercial real estate owner occupied |  | Commercial real estate non-owner occupied |  | Consumer and other |  | Total
Three Months Ended March 31, 2021 |
Beginning balance - December 31, 2020 |  | $ | 14,748 |  |  | $ | 58,477 |  |  | $ | 19,220 |  |  | $ | 10,534 |  |  | $ | 7,174 |  |  | $ | 4,849 |  |  | $ | 44,147 |  |  | $ | 11,240 |  |  | $ | 170,389 |
Provision for credit losses |  | 43 |  |  | (19,826) |  |  | 461 |  |  | (1,257) |  |  | 4,483 |  |  | (1,253) |  |  | 6,032 |  |  | (315) |  |  | (11,632) |
Recoveries of loans previously charged-off |  | 129 |  |  | — |  |  | 24 |  |  | 6 |  |  | — |  |  | 13 |  |  | — |  |  | 195 |  |  | 367 |
Loans charged off |  | (277) |  |  | (29) |  |  | (133) |  |  | (15) |  |  | — |  |  | — |  |  | — |  |  | (716) |  |  | (1,170) |
Ending balance - March 31, 2021 |  | $ | 14,643 |  |  | $ | 38,622 |  |  | $ | 19,572 |  |  | $ | 9,268 |  |  | $ | 11,657 |  |  | $ | 3,609 |  |  | $ | 50,179 |  |  | $ | 10,404 |  |  | $ | 157,954 |
Credit Quality - Commercial Loans The Company categorizes commercial loan types into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans that share similar risk characteristics collectively. Loans that do not share similar risk characteristics are evaluated individually. The Company uses the following definitions for risk ratings:
| Pass. | Loans rated Pass include those that are adequately collateralized performing loans which management believes do not have conditions that have occurred or may occur that would result in the loan being downgraded into an inferior category. The Pass category also includes commercial loans rated as Watch, which include those that management believes have conditions that have occurred, or may occur, which could result in the loan being downgraded to an inferior category.
| Special Mention. | Loans rated Special Mention are those that have potential weakness that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or in the institution’s credit position at some future date. Management does not believe there will be a loss of principal or interest. These loans require intensive servicing and may possess more than normal credit risk.
| Classified. | Loans included in the Classified category include loans rated as Substandard and Doubtful. Loans rated as Substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard loans have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Also included in this category are loans classified as Doubtful, which have all the weaknesses inherent in those classified as Substandard, with the added characteristic that the weakness or weaknesses make collection or liquidation in full, based on currently existing facts, conditions, and values, highly questionable and improbable.
Risk ratings are updated on an ongoing basis and are subject to change by continuous loan monitoring processes. During the first quarter of 2022, the Company revised the presentation of the below credit quality vintage tables without change to accounting or credit policies. The updated presentation disaggregates between commercial and consumer loan types with consumer loans reported as either performing or nonperforming based on delinquency and accrual status. As such, the tables presented below as of December 31, 2021 have been revised to align with current period presentation. The following tables present the credit quality of our commercial loan portfolio by year of origination as of March 31, 2022 and December 31, 2021. Revolving loans are presented separately. Management considers the guidance in ASC 310-20 when determining whether a modification, extension, or renewal constitutes a current period origination. Generally, current period renewals of credit are reunderwritten at the point of renewal and considered current period originations for the purposes of the tables below.
As of March 31, 2022 |  |
|  | Commercial Term Loans |  |  |  |  |  |
|  | Amortized Cost Basis by Origination Year |  |  |  |  |  |
|  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | Prior |  | Revolving Loans Amortized Cost Basis |  | Total |  |
Commercial and industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 86,753 |  |  | $ | 262,073 |  |  | $ | 84,369 |  |  | $ | 123,038 |  |  | $ | 46,230 |  |  | $ | 80,906 |  |  | $ | 656,672 |  |  | $ | 1,340,041 |  |  |
Special Mention |  | 27 |  |  | 50 |  |  | — |  |  | 941 |  |  | 616 |  |  | 1,494 |  |  | 12,570 |  |  | 15,698 |  |  |
Classified |  | — |  |  | 900 |  |  | 2,285 |  |  | 2,269 |  |  | 2,933 |  |  | 9,576 |  |  | 6,898 |  |  | 24,861 |  |  |
Total |  | 86,780 |  |  | 263,023 |  |  | 86,654 |  |  | 126,248 |  |  | 49,779 |  |  | 91,976 |  |  | 676,140 |  |  | 1,380,600 |  |  |
Construction - Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 103,294 |  |  | 322,557 |  |  | 179,337 |  |  | 111,794 |  |  | 17,366 |  |  | 63,846 |  |  | 47,864 |  |  | 846,058 |  |  |
Special Mention |  | — |  |  | — |  |  | 10 |  |  | — |  |  | — |  |  | 2,579 |  |  | — |  |  | 2,589 |  |  |
Classified |  | — |  |  | — |  |  | — |  |  | 3,078 |  |  | — |  |  | 679 |  |  | 201 |  |  | 3,958 |  |  |
Total |  | 103,294 |  |  | 322,557 |  |  | 179,347 |  |  | 114,872 |  |  | 17,366 |  |  | 67,104 |  |  | 48,065 |  |  | 852,605 |  |  |
Residential real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Multi-family mortgage |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 53,167 |  |  | 190,584 |  |  | 32,964 |  |  | 64,201 |  |  | 5,124 |  |  | 42,130 |  |  | 11,104 |  |  | 399,274 |  |  |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |
Classified |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,227 |  |  | — |  |  | 1,227 |  |  |
Total |  | 53,167 |  |  | 190,584 |  |  | 32,964 |  |  | 64,201 |  |  | 5,124 |  |  | 43,357 |  |  | 11,104 |  |  | 400,501 |  |  |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 53,495 |  |  | 178,092 |  |  | 127,649 |  |  | 164,620 |  |  | 78,970 |  |  | 293,791 |  |  | 56,543 |  |  | 953,160 |  |  |
Special Mention |  | — |  |  | — |  |  | 30 |  |  | 1,492 |  |  | 3,200 |  |  | 2,325 |  |  | 210 |  |  | 7,257 |  |  |
Classified |  | — |  |  | — |  |  | — |  |  | 3,089 |  |  | 1,667 |  |  | 12,285 |  |  | 978 |  |  | 18,019 |  |  |
Total |  | 53,495 |  |  | 178,092 |  |  | 127,679 |  |  | 169,201 |  |  | 83,837 |  |  | 308,401 |  |  | 57,731 |  |  | 978,436 |  |  |
Non-owner occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 80,277 |  |  | 439,956 |  |  | 126,299 |  |  | 157,806 |  |  | 257,327 |  |  | 568,790 |  |  | 55,375 |  |  | 1,685,830 |  |  |
Special Mention |  | — |  |  | — |  |  | — |  |  | 3,687 |  |  | 249 |  |  | 985 |  |  | — |  |  | 4,921 |  |  |
Classified |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,460 |  |  | 12,335 |  |  | — |  |  | 15,795 |  |  |
Total |  | 80,277 |  |  | 439,956 |  |  | 126,299 |  |  | 161,493 |  |  | 261,036 |  |  | 582,110 |  |  | 55,375 |  |  | 1,706,546 |  |  |
Total commercial loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 376,986 |  |  | 1,393,262 |  |  | 550,618 |  |  | 621,459 |  |  | 405,017 |  |  | 1,049,463 |  |  | 827,558 |  |  | 5,224,363 |  |  |
Special Mention |  | 27 |  |  | 50 |  |  | 40 |  |  | 6,120 |  |  | 4,065 |  |  | 7,383 |  |  | 12,780 |  |  | 30,465 |  |  |
Classified |  | — |  |  | 900 |  |  | 2,285 |  |  | 8,436 |  |  | 8,060 |  |  | 36,102 |  |  | 8,077 |  |  | 63,860 |  |  |
Total commercial loans |  | $ | 377,013 |  |  | $ | 1,394,212 |  |  | $ | 552,943 |  |  | $ | 636,015 |  |  | $ | 417,142 |  |  | $ | 1,092,948 |  |  | $ | 848,415 |  |  | $ | 5,318,688 |  |  |
As of December 31, 2021 |  |
|  | Commercial Term Loans |  |  |  |  |  |
|  | Amortized Cost Basis by Origination Year |  |  |  |  |  |
|  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | Prior |  | Revolving Loans Amortized Cost Basis |  | Total |  |
Commercial and industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 273,232 |  |  | $ | 95,279 |  |  | $ | 140,938 |  |  | $ | 52,162 |  |  | $ | 33,997 |  |  | $ | 57,020 |  |  | $ | 596,667 |  |  | $ | 1,249,295 |  |  |
Special Mention |  | 79 |  |  | 9 |  |  | 949 |  |  | 632 |  |  | 3 |  |  | 1,519 |  |  | 12,367 |  |  | 15,558 |  |  |
Classified |  | 918 |  |  | 2,391 |  |  | 2,376 |  |  | 3,089 |  |  | 3,370 |  |  | 6,425 |  |  | 7,143 |  |  | 25,712 |  |  |
Total |  | 274,229 |  |  | 97,679 |  |  | 144,263 |  |  | 55,883 |  |  | 37,370 |  |  | 64,964 |  |  | 616,177 |  |  | 1,290,565 |  |  |
Construction - Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 335,758 |  |  | 164,428 |  |  | 112,985 |  |  | 18,374 |  |  | 14,965 |  |  | 64,516 |  |  | 43,748 |  |  | 754,774 |  |  |
Special Mention |  | — |  |  | 11 |  |  | — |  |  | — |  |  | 1,208 |  |  | 1,384 |  |  | — |  |  | 2,603 |  |  |
Classified |  | — |  |  | — |  |  | 2,922 |  |  | 2,882 |  |  | 3 |  |  | 737 |  |  | 200 |  |  | 6,744 |  |  |
Total |  | 335,758 |  |  | 164,439 |  |  | 115,907 |  |  | 21,256 |  |  | 16,176 |  |  | 66,637 |  |  | 43,948 |  |  | 764,121 |  |  |
Residential real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Multi-family mortgage |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 166,576 |  |  | 32,242 |  |  | 64,345 |  |  | 7,124 |  |  | 5,602 |  |  | 38,526 |  |  | 10,891 |  |  | 325,306 |  |  |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |
Classified |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,245 |  |  | — |  |  | 1,245 |  |  |
Total |  | 166,576 |  |  | 32,242 |  |  | 64,345 |  |  | 7,124 |  |  | 5,602 |  |  | 39,771 |  |  | 10,891 |  |  | 326,551 |  |  |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 170,773 |  |  | 131,471 |  |  | 174,257 |  |  | 83,698 |  |  | 69,939 |  |  | 236,998 |  |  | 57,123 |  |  | 924,259 |  |  |
Special Mention |  | — |  |  | — |  |  | 1,502 |  |  | 3,541 |  |  | 885 |  |  | 2,555 |  |  | 213 |  |  | 8,696 |  |  |
Classified |  | — |  |  | — |  |  | 3,102 |  |  | 768 |  |  | 3,295 |  |  | 9,616 |  |  | 1,846 |  |  | 18,627 |  |  |
Total |  | 170,773 |  |  | 131,471 |  |  | 178,861 |  |  | 88,007 |  |  | 74,119 |  |  | 249,169 |  |  | 59,182 |  |  | 951,582 |  |  |
Non-owner occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 462,478 |  |  | 154,048 |  |  | 165,917 |  |  | 264,855 |  |  | 170,602 |  |  | 414,859 |  | 46,541 |  |  | 1,679,300 |  |  |
Special Mention |  | — |  |  | — |  |  | 3,747 |  |  | 3,388 |  |  | — |  |  | 969 |  | — |  |  | 8,104 |  |  |
Classified |  | — |  |  | — |  |  | 1,898 |  |  | 23,849 |  |  | 1,506 |  |  | 15,508 |  | — |  |  | 42,761 |  |  |
Total |  | 462,478 |  |  | 154,048 |  |  | 171,562 |  |  | 292,092 |  |  | 172,108 |  |  | 431,336 |  |  | 46,541 |  |  | 1,730,165 |  |  |
Total commercial loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 1,408,817 |  |  | 577,468 |  |  | 658,442 |  |  | 426,213 |  |  | 295,105 |  |  | 811,919 |  |  | 754,970 |  |  | 4,932,934 |  |  |
Special Mention |  | 79 |  |  | 20 |  |  | 6,198 |  |  | 7,561 |  |  | 2,096 |  |  | 6,427 |  |  | 12,580 |  |  | 34,961 |  |  |
Classified |  | 918 |  |  | 2,391 |  |  | 10,298 |  |  | 30,588 |  |  | 8,174 |  |  | 33,531 |  |  | 9,189 |  |  | 95,089 |  |  |
Total commercial loans |  | $ | 1,409,814 |  |  | $ | 579,879 |  |  | $ | 674,938 |  |  | $ | 464,362 |  |  | $ | 305,375 |  |  | $ | 851,877 |  |  | $ | 776,739 |  |  | $ | 5,062,984 |  |  |
Credit Quality - Consumer Loans For consumer and residential loan classes, the company primarily evaluates credit quality based on delinquency and accrual status of the loan, credit documentation and by payment activity. The performing or nonperforming status is updated on an on-going basis dependent upon improvement and deterioration in credit quality. The following tables present the credit quality by classification (performing or nonperforming) of our consumer loan portfolio by year of origination as of March 31, 2022 and December 31, 2021. Revolving loans are presented separately. Management considers the guidance in ASC 310-20 when determining whether a modification, extension, or renewal constitutes a current period origination. Generally, current period renewals of credit are reunderwritten at the point of renewal and considered current period originations for the purposes of the tables below.
As of March 31, 2022
|  | Consumer Term Loans |  |  |  |
|  | Amortized Cost Basis by Origination Year |  |  |  |
|  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | Prior |  | Revolving Loans Amortized Cost Basis |  | Total
Construction - Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 63,687 |  |  | $ | 345,094 |  |  | $ | 87,761 |  |  | $ | 18,312 |  |  | $ | 5,815 |  |  | $ | 4,328 |  |  | $ | 91,209 |  |  | $ | 616,206 |
Nonperforming |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 63,687 |  |  | 345,094 |  |  | 87,761 |  |  | 18,312 |  |  | 5,815 |  |  | 4,328 |  |  | 91,209 |  |  | 616,206 |
Residential real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-to-4 family mortgage |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | 161,778 |  |  | 500,544 |  |  | 184,028 |  |  | 113,736 |  |  | 89,201 |  |  | 282,039 |  |  | — |  |  | 1,331,326 |
Nonperforming |  | — |  |  | 3,240 |  |  | 2,970 |  |  | 1,144 |  |  | 2,577 |  |  | 5,092 |  |  | — |  |  | 15,023 |
Total |  | 161,778 |  |  | 503,784 |  |  | 186,998 |  |  | 114,880 |  |  | 91,778 |  |  | 287,131 |  |  | — |  |  | 1,346,349 |
Residential line of credit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 391,163 |  |  | 391,163 |
Nonperforming |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,577 |  |  | 1,577 |
Total |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 392,740 |  |  | 392,740 |
Consumer and other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | 33,831 |  |  | 72,033 |  |  | 51,086 |  |  | 36,589 |  |  | 31,037 |  |  | 92,155 |  |  | 9,004 |  |  | 325,735 |
Nonperforming |  | — |  |  | 330 |  |  | 442 |  |  | 518 |  |  | 1,541 |  |  | 2,427 |  |  | — |  |  | 5,258 |
Total |  | 33,831 |  |  | 72,363 |  |  | 51,528 |  |  | 37,107 |  |  | 32,578 |  |  | 94,582 |  |  | 9,004 |  |  | 330,993 |
Total consumer loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | 259,296 |  |  | 917,671 |  |  | 322,875 |  |  | 168,637 |  |  | 126,053 |  |  | 378,522 |  |  | 491,376 |  |  | 2,664,430 |
Nonperforming |  | — |  |  | 3,570 |  |  | 3,412 |  |  | 1,662 |  |  | 4,118 |  |  | 7,519 |  |  | 1,577 |  |  | 21,858 |
Total consumer loans |  | $ | 259,296 |  |  | $ | 921,241 |  |  | $ | 326,287 |  |  | $ | 170,299 |  |  | $ | 130,171 |  |  | $ | 386,041 |  |  | $ | 492,953 |  |  | $ | 2,686,288 |
As of December 31, 2021
|  | Consumer Term Loans |  |  |  |
|  | Amortized Cost Basis by Origination Year |  |  |  |
|  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | Prior |  | Revolving Loans Amortized Cost Basis |  | Total
Construction - Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 341,562 |  |  | $ | 116,352 |  |  | $ | 22,783 |  |  | $ | 5,542 |  |  | $ | 348 |  |  | $ | 3,302 |  |  | $ | 73,428 |  |  | $ | 563,317 |
Nonperforming |  | — |  |  | 221 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 221 |
Total |  | 341,562 |  |  | 116,573 |  |  | 22,783 |  |  | 5,542 |  |  | 348 |  |  | 3,302 |  |  | 73,428 |  |  | 563,538 |
Residential real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-to-4 family mortgage |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | 521,533 |  |  | 204,690 |  |  | 121,775 |  |  | 100,164 |  |  | 109,087 |  |  | 199,262 |  |  | — |  |  | 1,256,511 |
Nonperforming |  | 1,232 |  |  | 3,734 |  |  | 977 |  |  | 2,429 |  |  | 1,765 |  |  | 3,819 |  |  | — |  |  | 13,956 |
Total |  | 522,765 |  |  | 208,424 |  |  | 122,752 |  |  | 102,593 |  |  | 110,852 |  |  | 203,081 |  |  | — |  |  | 1,270,467 |
Residential line of credit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 381,303 |  |  | 381,303 |
Nonperforming |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,736 |  |  | 1,736 |
Total |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 383,039 |  |  | 383,039 |
Consumer and other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | 82,910 |  |  | 55,123 |  |  | 38,281 |  |  | 32,893 |  |  | 21,856 |  |  | 74,248 |  |  | 14,478 |  |  | 319,789 |
Nonperforming |  | 199 |  |  | 345 |  |  | 545 |  |  | 1,352 |  |  | 861 |  |  | 1,496 |  |  | 47 |  |  | 4,845 |
Total |  | 83,109 |  |  | 55,468 |  |  | 38,826 |  |  | 34,245 |  |  | 22,717 |  |  | 75,744 |  |  | 14,525 |  |  | 324,634 |
Total consumer loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | 946,005 |  |  | 376,165 |  |  | 182,839 |  |  | 138,599 |  |  | 131,291 |  |  | 276,812 |  |  | 469,209 |  |  | 2,520,920 |
Nonperforming |  | 1,431 |  |  | 4,300 |  |  | 1,522 |  |  | 3,781 |  |  | 2,626 |  |  | 5,315 |  |  | 1,783 |  |  | 20,758 |
Total consumer loans |  | $ | 947,436 |  |  | $ | 380,465 |  |  | $ | 184,361 |  |  | $ | 142,380 |  |  | $ | 133,917 |  |  | $ | 282,127 |  |  | $ | 470,992 |  |  | $ | 2,541,678 |
Nonaccrual and Past Due Loans Nonperforming loans include loans that are no longer accruing interest (nonaccrual loans) and loans past due ninety or more days and still accruing interest. The following tables represent an analysis of the aging by class of financing receivable as of March 31, 2022 and December 31, 2021:
March 31, 2022 |  | 30-89 days past due |  | 90 days or more and accruing interest |  | Non-accrual loans |  |  |  | Loans current on payments and accruing interest |  | Total
Commercial and industrial |  | $ | 1,543 |  |  | $ | 58 |  |  | $ | 3,882 |  |  |  |  | $ | 1,375,117 |  |  | $ | 1,380,600 |
Construction |  | 2,622 |  |  | — |  |  | 679 |  |  |  |  | 1,465,510 |  |  | 1,468,811 |
Residential real estate: |  |  |  |  |  |  |  |  |  |  |  |
1-to-4 family mortgage |  | 13,508 |  |  | 11,724 |  |  | 3,299 |  |  |  |  | 1,317,818 |  |  | 1,346,349 |
Residential line of credit |  | 536 |  |  | — |  |  | 1,577 |  |  |  |  | 390,627 |  |  | 392,740 |
Multi-family mortgage |  | — |  |  | — |  |  | 48 |  |  |  |  | 400,453 |  |  | 400,501 |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied |  | 415 |  |  | — |  |  | 6,989 |  |  |  |  | 971,032 |  |  | 978,436 |
Non-owner occupied |  | 986 |  |  | — |  |  | 7,185 |  |  |  |  | 1,698,375 |  |  | 1,706,546 |
Consumer and other |  | 4,305 |  |  | 1,091 |  |  | 4,167 |  |  |  |  | 321,430 |  |  | 330,993 |
Total |  | $ | 23,915 |  |  | $ | 12,873 |  |  | $ | 27,826 |  |  |  |  | $ | 7,940,362 |  |  | $ | 8,004,976 |
December 31, 2021 |  | 30-89 days past due |  | 90 days or more and accruing interest |  | Non-accrual loans |  |  |  | Loans current on payments and accruing interest |  | Total
Commercial and industrial |  | $ | 1,030 |  |  | $ | 63 |  |  | $ | 1,520 |  |  |  |  | $ | 1,287,952 |  |  | $ | 1,290,565 |
Construction |  | 4,852 |  |  | 718 |  |  | 3,622 |  |  |  |  | 1,318,467 |  |  | 1,327,659 |
Residential real estate: |  |  |  |  |  |  |  |  |  |  |  |
1-to-4 family mortgage |  | 11,007 |  |  | 9,363 |  |  | 4,593 |  |  |  |  | 1,245,504 |  |  | 1,270,467 |
Residential line of credit |  | 319 |  |  | — |  |  | 1,736 |  |  |  |  | 380,984 |  |  | 383,039 |
Multi-family mortgage |  | — |  |  | — |  |  | 49 |  |  |  |  | 326,502 |  |  | 326,551 |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied |  | 1,417 |  |  | — |  |  | 6,710 |  |  |  |  | 943,455 |  |  | 951,582 |
Non-owner occupied |  | 427 |  |  | — |  |  | 14,084 |  |  |  |  | 1,715,654 |  |  | 1,730,165 |
Consumer and other |  | 7,398 |  |  | 1,591 |  |  | 3,254 |  |  |  |  | 312,391 |  |  | 324,634 |
Total |  | $ | 26,450 |  |  | $ | 11,735 |  |  | $ | 35,568 |  |  |  |  | $ | 7,530,909 |  |  | $ | 7,604,662 |
The following tables provide the amortized cost basis of loans on non-accrual status, as well as any related allowance as of March 31, 2022 and December 31, 2021 by class of financing receivable.
March 31, 2022 |  |  |  | Non-accrual with no related allowance |  | Non-accrual with related allowance |  | Related allowance |  |  |  |  |  |  |
Commercial and industrial |  |  |  | $ | 1,420 |  |  | $ | 2,462 |  |  | $ | 1,781 |  |  |  |  |  |  |  |
Construction |  |  |  | — |  |  | 679 |  |  | 85 |  |  |  |  |  |  |  |
Residential real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-to-4 family mortgage |  |  |  | 130 |  |  | 3,169 |  |  | 49 |  |  |  |  |  |  |  |
Residential line of credit |  |  |  | 1,051 |  |  | 526 |  |  | 7 |  |  |  |  |  |  |  |
Multi-family mortgage |  |  |  | — |  |  | 48 |  |  | 2 |  |  |  |  |  |  |  |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied |  |  |  | 4,346 |  |  | 2,643 |  |  | 84 |  |  |  |  |  |  |  |
Non-owner occupied |  |  |  | 7,006 |  |  | 179 |  |  | 22 |  |  |  |  |  |  |  |
Consumer and other |  |  |  | — |  |  | 4,167 |  |  | 211 |  |  |  |  |  |  |  |
Total |  |  |  | $ | 13,953 |  |  | $ | 13,873 |  |  | $ | 2,241 |  |  |  |  |  |  |  |
December 31, 2021 |  |  |  |  |  | Non-accrual with no related allowance |  | Non-accrual with related allowance |  | Related allowance |  |  |  |  |  |
Commercial and industrial |  |  |  |  |  | $ | 1,085 |  |  | $ | 435 |  |  | $ | 6 |  |  |  |  |  |  |
Construction |  |  |  |  |  | 2,882 |  |  | 740 |  |  | 99 |  |  |  |  |  |  |
Residential real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-to-4 family mortgage |  |  |  |  |  | 378 |  |  | 4,215 |  |  | 60 |  |  |  |  |  |  |
Residential line of credit |  |  |  |  |  | 797 |  |  | 939 |  |  | 11 |  |  |  |  |  |  |
Multi-family mortgage |  |  |  |  |  | — |  |  | 49 |  |  | 2 |  |  |  |  |  |  |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied |  |  |  |  |  | 5,346 |  |  | 1,364 |  |  | 206 |  |  |  |  |  |  |
Non-owner occupied |  |  |  |  |  | 13,898 |  |  | 186 |  |  | 7 |  |  |  |  |  |  |
Consumer and other |  |  |  |  |  | — |  |  | 3,254 |  |  | 164 |  |  |  |  |  |  |
Total |  |  |  |  |  | $ | 24,386 |  |  | $ | 11,182 |  |  | $ | 555 |  |  |  |  |  |  |
The following presents interest income recognized on nonaccrual loans for the three months ended March 31, 2022 and 2021:
|  |  | Three Months Ended March 31,
|  |  | 2022 |  | 2021
Commercial and industrial |  |  | $ | 54 |  |  | $ | 114 |
Construction |  |  | 19 |  |  | 14 |
Residential real estate: |  |  |  |  |
1-to-4 family mortgage |  |  | 52 |  |  | 18 |
Residential line of credit |  |  | 40 |  |  | 18 |
Multi-family mortgage |  |  | — |  |  | 1 |
Commercial real estate: |  |  |  |  |
Owner occupied |  |  | 25 |  |  | 131 |
Non-owner occupied |  |  | 70 |  |  | 89 |
Consumer and other |  |  | 15 |  |  | — |
Total |  |  | $ | 275 |  |  | $ | 385 |
Accrued interest receivable written off as an adjustment to interest income amounted to $184 and $465 for the three months ended March 31, 2022 and 2021, respectively. Troubled debt restructurings As of March 31, 2022 and December 31, 2021, the Company had a recorded investment in TDRs of $20,601 and $32,435, respectively. The modifications included extensions of the maturity date and/or a stated rate of interest to one lower than the current market rate to borrowers experiencing financial difficulty. Of these loans, $13,722 and $11,084 were classified as non-accrual loans as of March 31, 2022 and December 31, 2021, respectively. The Company has calculated $1,994 and $1,245 in allowances for credit losses on TDRs as of March 31, 2022 and December 31, 2021, respectively. There were no significant unfunded loan commitments to extend additional funds on troubled debt restructurings as of March 31, 2022 or December 31, 2021. The following tables present the financial effect of TDRs recorded during the periods indicated:
Three Months Ended March 31, 2022 |  | Number of loans |  | Pre-modification outstanding recorded investment |  | Post-modification outstanding recorded investment |  | Charge offs and specific reserves
Residential real estate: |  |  |  |  |  |  |  |
1-to-4 family mortgage |  | 1 |  |  | $ | 80 |  |  | $ | 80 |  |  | $ | — |
Consumer and other |  | 1 |  |  | 22 |  |  | 22 |  |  | — |
Total |  | 2 |  |  | $ | 102 |  |  | $ | 102 |  |  | $ | — |
Three Months Ended March 31, 2021 |  | Number of loans |  | Pre-modification outstanding recorded investment |  | Post-modification outstanding recorded investment |  | Charge offs and specific reserves
Commercial and industrial |  | 1 |  |  | $ | 107 |  |  | $ | 107 |  |  | $ | — |
Commercial real estate: |  |  |  |  |  |  |  |
Non-owner occupied |  | 1 |  | 11,997 |  |  | 11,997 |  |  | — |
Total |  | 2 |  | $ | 12,104 |  |  | $ | 12,104 |  |  | $ | — |
Troubled debt restructurings for which there was a payment default within twelve months following the modification totaled $304 during the three months ended March 31, 2022. There were no loans modified as troubled debt restructurings for which there was a payment default within twelve months following the modification during the three months ended March 31, 2021. A loan is considered to be in payment default once it is 90 days contractually past due under the modified terms. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Company’s internal underwriting policy. The terms of certain other loans were modified during the three months ended March 31, 2022 and 2021 that did not meet the definition of a TDR. The modification of these loans usually involve either a modification of the terms of a loan to borrowers who are not experiencing financial difficulties or an insignificant delay in payments. Collateral Dependent Loans For loans for which the repayment (based on the Company's assessment) is expected to be provided substantially through the operation or sale of collateral and the borrower is experiencing financial difficulty, the following tables present the loans and the corresponding individually assessed allowance for credit losses by class of financing receivable. Significant changes in individually assessed reserves are due to changes in the valuation of the underlying collateral in addition to changes in accrual and past due status.
|  | March 31, 2022
|  | Type of Collateral |  |
|  | Real Estate |  |  |  |  |  | Financial Assets and Equipment |  | Total |  |  |  | Individually assessed allowance for credit loss
Commercial and industrial |  | $ | 689 |  |  |  |  |  |  | $ | 3,324 |  |  | $ | 4,013 |  |  |  |  | $ | 1,776 |
Construction |  | 685 |  |  |  |  |  |  | — |  |  | 685 |  |  |  |  | 84 |
Residential real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-to-4 family mortgage |  | 344 |  |  |  |  |  |  | — |  |  | 344 |  |  |  |  | — |
Residential line of credit |  | 1,367 |  |  |  |  |  |  | — |  |  | 1,367 |  |  |  |  | 5 |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied |  | 8,470 |  |  |  |  |  |  | — |  |  | 8,470 |  |  |  |  | 80 |
Non-owner occupied |  | 7,006 |  |  |  |  |  |  | — |  |  | 7,006 |  |  |  |  | — |
Consumer and other |  | 25 |  |  |  |  |  |  | — |  |  | 25 |  |  |  |  | 1 |
Total |  | $ | 18,586 |  |  |  |  |  |  | $ | 3,324 |  |  | $ | 21,910 |  |  |  |  | $ | 1,946 |
|  | December 31, 2021
|  | Type of Collateral |  |
|  | Real Estate |  |  |  |  |  | Financial Assets and Equipment |  | Total |  |  |  | Individually assessed allowance for credit loss
Commercial and industrial |  | $ | 799 |  |  |  |  |  |  | $ | 1,090 |  |  | $ | 1,889 |  |  |  |  | $ | — |
Construction |  | 3,580 |  |  |  |  |  |  | — |  |  | 3,580 |  |  |  |  | 92 |
Residential real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |
1-to-4 family mortgage |  | 338 |  |  |  |  |  |  | — |  |  | 338 |  |  |  |  | — |
Residential line of credit |  | 1,400 |  |  |  |  |  |  | — |  |  | 1,400 |  |  |  |  | 10 |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied |  | 8,117 |  |  |  |  |  |  | 71 |  |  | 8,188 |  |  |  |  | 200 |
Non-owner occupied |  | 13,899 |  |  |  |  |  |  | — |  |  | 13,899 |  |  |  |  | — |
Consumer and other |  | 25 |  |  |  |  |  |  | — |  |  | 25 |  |  |  |  | 1 |
Total |  | $ | 28,158 |  |  |  |  |  |  | $ | 1,161 |  |  | $ | 29,319 |  |  |  |  | $ | 303 |

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