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Loans and Leases and the Allowance for Credit Losses | 3 Months Ended
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Mar. 31, 2022
Loans And Leases And Allowance For Loan And Lease Losses [Abstract] |
Loans and Leases and the Allowance for Credit Losses | Note 4. Loans and Leases and the Allowance for Credit Losses Loans and Leases The Company’s loan and lease portfolio was comprised of the following as of March 31, 2022, and December 31, 2021:
(dollars in thousands) |  | March 31, 2022 |  |  | December 31, 2021 |
Commercial |  |  |  |  |  |  |  |
Commercial and Industrial |  | $ | 1,354,757 |  |  | $ | 1,361,921 |
Paycheck Protection Program |  |  | 57,809 |  |  |  | 126,779 |
Commercial Mortgage |  |  | 3,257,689 |  |  |  | 3,152,130 |
Construction |  |  | 248,363 |  |  |  | 220,254 |
Lease Financing |  |  | 98,107 |  |  |  | 105,108 |
Total Commercial |  |  | 5,016,725 |  |  |  | 4,966,192 |
Consumer |  |  |  |  |  |  |  |
Residential Mortgage |  |  | 4,405,718 |  |  |  | 4,309,602 |
Home Equity |  |  | 1,958,285 |  |  |  | 1,836,588 |
Automobile |  |  | 742,934 |  |  |  | 736,565 |
Other 1 |  |  | 420,830 |  |  |  | 410,129 |
Total Consumer |  |  | 7,527,767 |  |  |  | 7,292,884 |
Total Loans and Leases |  | $ | 12,544,492 |  |  | $ | 12,259,076 |
1 | Comprised of other revolving credit, installment, and lease financing.
The majority of the Company’s lending activity is with customers located in the State of Hawaii. A substantial portion of the Company’s real estate loans are secured by real estate in Hawaii. Net gains related to sales of residential mortgage loans, recorded as a component of mortgage banking income was less than $0.1 million for three months ended March 31, 2022, and $2.1 million for the three months ended March 31, 2021. The Company elected to exclude AIR from the amortized cost basis of loans disclosed throughout this footnote. As of March 31, 2022, and December 31, 2021, AIR for loans totaled $28.9 million and $28.7 million, respectively, and is included in the “accrued interest receivable” line item on the Company’s consolidated statements of condition. Allowance for Credit Losses (the “Allowance”) The following presents by portfolio segment, the activity in the Allowance for the three months ended March 31, 2022, and March 31, 2021.
(dollars in thousands) |  | Commercial |  |  | Consumer |  |  | Total |
Three Months Ended March 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |
Allowance for Credit Losses: |  |  |  |  |  |  |  |  |  |  |  |
Balance at Beginning of Period |  | $ | 64,950 |  |  | $ | 92,871 |  |  | $ | 157,821 |
Loans and Leases Charged-Off |  |  | (349 | ) |  |  | (3,559 | ) |  |  | (3,908 | )
Recoveries on Loans and Leases Previously Charged-Off |  |  | 369 |  |  |  | 2,053 |  |  |  | 2,422 |
Net Loans and Leases Recovered (Charged-Off) |  |  | 20 |  |  |  | (1,506 | ) |  |  | (1,486 | )
Provision for Credit Losses |  |  | (2,877 | ) |  |  | (1,430 | ) |  |  | (4,307 | )
Balance at End of Period |  | $ | 62,093 |  |  | $ | 89,935 |  |  | $ | 152,028 |
Three Months Ended March 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |
Allowance for Credit Losses: |  |  |  |  |  |  |  |  |  |  |  |
Balance at Beginning of Period |  | $ | 84,847 |  |  | $ | 131,405 |  |  | $ | 216,252 |
Loans and Leases Charged-Off |  |  | (248 | ) |  |  | (6,043 | ) |  |  | (6,291 | )
Recoveries on Loans and Leases Previously Charged-Off |  |  | 112 |  |  |  | 3,263 |  |  |  | 3,375 |
Net Loans and Leases Recovered (Charged-Off) |  |  | (136 | ) |  |  | (2,780 | ) |  |  | (2,916 | )
Provision for Credit Losses |  |  | (1,900 | ) |  |  | (13,093 | ) |  |  | (14,993 | )
Balance at End of Period |  | $ | 82,811 |  |  | $ | 115,532 |  |  | $ | 198,343 |
Credit Quality Indicators The Company uses several credit quality indicators to manage credit risk in an ongoing manner. The Company uses an internal credit risk rating system that categorizes loans and leases into pass, special mention, or classified categories. Credit risk ratings are applied individually to those classes of loans and leases that have significant or unique credit characteristics that benefit from a case-by-case evaluation. These are typically loans and leases to businesses or individuals in the classes which comprise the commercial portfolio segment. Groups of loans and leases that are underwritten and structured using standardized criteria and characteristics (e.g., credit scoring or payment performance), are typically risk-rated and monitored collectively. These are typically loans and leases to individuals in the classes which comprise the consumer portfolio segment. The following are the definitions of the Company’s credit quality indicators:
| Pass: | Loans and leases in all classes within the commercial and consumer portfolio segments that are not adversely rated, are contractually current as to principal and interest, and are otherwise in compliance with the contractual terms of the loan or lease agreement. Residential mortgage loans that are past due 90 days or more as to principal or interest may be considered Pass if the current loan-to-value ratio is 60% or less. Home equity loans that are past due 90 days or more as to principal or interest may be considered Pass if: a) the home equity loan is in a first lien position and the current loan-to-value ratio is 60% or less; or b) the first mortgage is with the Company and the current combined loan-to-value ratio is 60% or less.
| Special Mention: | Loans and leases in all classes within the commercial portfolio segment that have potential weaknesses that deserve management’s close attention. If not addressed, these potential weaknesses may result in deterioration of the repayment prospects for the loan or lease. The Special Mention credit quality indicator is not used for the consumer portfolio segment.
| Classified: | Loans and leases in the classes within the commercial portfolio segment that are inadequately protected by the sound worth and paying capacity of the borrower or of the collateral pledged, if any. Classified loans and leases are also those in the classes within the consumer portfolio segment that are past due 90 days or more as to principal or interest. Residential mortgage and home equity loans that are past due 90 days or more as to principal or interest may be considered Pass based on the criteria described in the definition of Pass.
For P ass rated credits, risk ratings are certified at a mini mum annually. For S pecial M ention or C lassified credits, risk ratings are reviewed for appropriateness on an ongoing basis, monthly, or at a minimum, quarterly. The following presents by credit quality indicator, loan class, and year of origination, the amortized cost basis of the Company’s loans and leases as of March 31, 2022.
|  | Term Loans by Origination Year |  |  |  |  |  |  |  |  |  |  |  |  |
(dollars in thousands) | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2019 |  |  | 2018 |  |  | Prior |  |  | Revolving Loans |  |  | Revolving Loans Converted to Term Loans |  |  | Total Loans and Leases |
March 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 145,785 |  |  | $ | 406,736 |  |  | $ | 293,772 |  |  | $ | 73,828 |  |  | $ | 54,642 |  |  | $ | 88,630 |  |  | $ | 241,899 |  |  | $ | 380 |  |  | $ | 1,305,672 |
Special Mention |  |  | - |  |  |  | 1,944 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 99 |  |  |  | 18,815 |  |  |  | - |  |  |  | 20,858 |
Classified |  |  | - |  |  |  | 10,579 |  |  |  | 1,197 |  |  |  | - |  |  |  | 1,949 |  |  |  | 13,495 |  |  |  | 965 |  |  |  | 42 |  |  |  | 28,227 |
Total Commercial and Industrial |  | $ | 145,785 |  |  | $ | 419,259 |  |  | $ | 294,969 |  |  | $ | 73,828 |  |  | $ | 56,591 |  |  | $ | 102,224 |  |  | $ | 261,679 |  |  | $ | 422 |  |  | $ | 1,354,757 |
Paycheck Protection Program |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | - |  |  | $ | 36,404 |  |  | $ | 21,405 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 57,809 |
Total Paycheck Protection Program |  | $ | - |  |  | $ | 36,404 |  |  | $ | 21,405 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 57,809 |
Commercial Mortgage |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 285,209 |  |  | $ | 898,610 |  |  | $ | 731,405 |  |  | $ | 334,284 |  |  | $ | 222,623 |  |  | $ | 588,824 |  |  | $ | 52,742 |  |  | $ | - |  |  | $ | 3,113,697 |
Special Mention |  |  | - |  |  |  | 56,690 |  |  |  | 31,374 |  |  |  | - |  |  |  | 30,000 |  |  |  | 4,817 |  |  |  | - |  |  |  | - |  |  |  | 122,881 |
Classified |  |  | - |  |  |  | 3,728 |  |  |  | 7,791 |  |  |  | 636 |  |  |  | - |  |  |  | 8,956 |  |  |  | - |  |  |  | - |  |  |  | 21,111 |
Total Commercial Mortgage |  | $ | 285,209 |  |  | $ | 959,028 |  |  | $ | 770,570 |  |  | $ | 334,920 |  |  | $ | 252,623 |  |  | $ | 602,597 |  |  | $ | 52,742 |  |  | $ | - |  |  | $ | 3,257,689 |
Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 3,936 |  |  | $ | 77,483 |  |  | $ | 109,348 |  |  | $ | - |  |  | $ | 39,970 |  |  | $ | 596 |  |  | $ | 17,030 |  |  | $ | - |  |  | $ | 248,363 |
Total Construction |  | $ | 3,936 |  |  | $ | 77,483 |  |  | $ | 109,348 |  |  | $ | - |  |  | $ | 39,970 |  |  | $ | 596 |  |  | $ | 17,030 |  |  | $ | - |  |  | $ | 248,363 |
Lease Financing |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 5,701 |  |  | $ | 21,146 |  |  | $ | 14,462 |  |  | $ | 14,482 |  |  | $ | 8,649 |  |  | $ | 32,847 |  |  | $ | - |  |  | $ | - |  |  | $ | 97,287 |
Special Mention |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 820 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 820 |
Total Lease Financing |  | $ | 5,701 |  |  | $ | 21,146 |  |  | $ | 14,462 |  |  | $ | 14,482 |  |  | $ | 9,469 |  |  | $ | 32,847 |  |  | $ | - |  |  | $ | - |  |  | $ | 98,107 |
Total Commercial |  | $ | 440,631 |  |  | $ | 1,513,320 |  |  | $ | 1,210,754 |  |  | $ | 423,230 |  |  | $ | 358,653 |  |  | $ | 738,264 |  |  | $ | 331,451 |  |  | $ | 422 |  |  | $ | 5,016,725 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential Mortgage |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 290,338 |  |  | $ | 1,365,595 |  |  | $ | 1,090,003 |  |  | $ | 346,369 |  |  | $ | 160,412 |  |  | $ | 1,150,355 |  |  | $ | - |  |  | $ | - |  |  | $ | 4,403,072 |
Classified |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 232 |  |  |  | 2,414 |  |  |  | - |  |  |  | - |  |  |  | 2,646 |
Total Residential Mortgage |  | $ | 290,338 |  |  | $ | 1,365,595 |  |  | $ | 1,090,003 |  |  | $ | 346,369 |  |  | $ | 160,644 |  |  | $ | 1,152,769 |  |  | $ | - |  |  | $ | - |  |  | $ | 4,405,718 |
Home Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 2,171 |  |  | $ | 1,918,767 |  |  | $ | 34,493 |  |  | $ | 1,955,431 |
Classified |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 57 |  |  |  | 2,283 |  |  |  | 514 |  |  |  | 2,854 |
Total Home Equity |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 2,228 |  |  | $ | 1,921,050 |  |  | $ | 35,007 |  |  | $ | 1,958,285 |
Automobile |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 86,068 |  |  | $ | 277,436 |  |  | $ | 138,175 |  |  | $ | 122,207 |  |  | $ | 77,547 |  |  | $ | 40,996 |  |  | $ | - |  |  | $ | - |  |  | $ | 742,429 |
Classified |  |  | - |  |  |  | 121 |  |  |  | 32 |  |  |  | 173 |  |  |  | 94 |  |  |  | 85 |  |  |  | - |  |  |  | - |  |  |  | 505 |
Total Automobile |  | $ | 86,068 |  |  | $ | 277,557 |  |  | $ | 138,207 |  |  | $ | 122,380 |  |  | $ | 77,641 |  |  | $ | 41,081 |  |  | $ | - |  |  | $ | - |  |  | $ | 742,934 |
Other1 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 58,605 |  |  | $ | 159,063 |  |  | $ | 44,754 |  |  | $ | 78,662 |  |  | $ | 35,063 |  |  | $ | 18,419 |  |  | $ | 24,225 |  |  | $ | 1,388 |  |  | $ | 420,179 |
Classified |  |  | - |  |  |  | 42 |  |  |  | 82 |  |  |  | 279 |  |  |  | 82 |  |  |  | 83 |  |  |  | 80 |  |  |  | 3 |  |  |  | 651 |
Total Other |  | $ | 58,605 |  |  | $ | 159,105 |  |  | $ | 44,836 |  |  | $ | 78,941 |  |  | $ | 35,145 |  |  | $ | 18,502 |  |  | $ | 24,305 |  |  | $ | 1,391 |  |  | $ | 420,830 |
Total Consumer |  | $ | 435,011 |  |  | $ | 1,802,257 |  |  | $ | 1,273,046 |  |  | $ | 547,690 |  |  | $ | 273,430 |  |  | $ | 1,214,580 |  |  | $ | 1,945,355 |  |  | $ | 36,398 |  |  | $ | 7,527,767 |
Total Loans and Leases |  | $ | 875,642 |  |  | $ | 3,315,577 |  |  | $ | 2,483,800 |  |  | $ | 970,920 |  |  | $ | 632,083 |  |  | $ | 1,952,844 |  |  | $ | 2,276,806 |  |  | $ | 36,820 |  |  | $ | 12,544,492 |
1 | Comprised of other revolving credit, installment, and lease financing.
For the three months ended March 31, 2022, $1.4 million revolving loans were converted to term loans. The following presents by credit quality indicator, loan class, and year of origination, the amortized cost basis of the Company’s loans and leases as of December 31, 2021.
|  | Term Loans by Origination Year |  |  |  |  |  |  |  |  |  |  |  |  |
(dollars in thousands) | 2021 |  |  | 2020 |  |  | 2019 |  |  | 2018 |  |  | 2017 |  |  | Prior |  |  | Revolving Loans |  |  | Revolving Loans Converted to Term Loans |  |  | Total Loans and Leases |
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 455,984 |  |  | $ | 301,646 |  |  | $ | 79,826 |  |  | $ | 68,026 |  |  | $ | 27,246 |  |  | $ | 75,321 |  |  | $ | 256,240 |  |  | $ | 471 |  |  | $ | 1,264,760 |
Special Mention |  |  | 1,966 |  |  |  | 32,667 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 101 |  |  |  | 27,031 |  |  |  | - |  |  |  | 61,765 |
Classified |  |  | 10,851 |  |  |  | 1,919 |  |  |  | 87 |  |  |  | 1,990 |  |  |  | 505 |  |  |  | 17,481 |  |  |  | 2,509 |  |  |  | 54 |  |  |  | 35,396 |
Total Commercial and Industrial |  | $ | 468,801 |  |  | $ | 336,232 |  |  | $ | 79,913 |  |  | $ | 70,016 |  |  | $ | 27,751 |  |  | $ | 92,903 |  |  | $ | 285,780 |  |  | $ | 525 |  |  | $ | 1,361,921 |
Paycheck Protection Program |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 86,484 |  |  | $ | 40,295 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 126,779 |
Total Paycheck Protection Program |  | $ | 86,484 |  |  | $ | 40,295 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 126,779 |
Commercial Mortgage |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 958,719 |  |  | $ | 736,155 |  |  | $ | 338,160 |  |  | $ | 261,991 |  |  | $ | 178,436 |  |  | $ | 459,337 |  |  | $ | 53,386 |  |  | $ | - |  |  | $ | 2,986,184 |
Special Mention |  |  | 68,768 |  |  |  | 39,773 |  |  |  | - |  |  |  | 30,000 |  |  |  | - |  |  |  | 6,069 |  |  |  | - |  |  |  | - |  |  |  | 144,610 |
Classified |  |  | 3,740 |  |  |  | 7,815 |  |  |  | 640 |  |  |  | - |  |  |  | - |  |  |  | 9,141 |  |  |  | - |  |  |  | - |  |  |  | 21,336 |
Total Commercial Mortgage |  | $ | 1,031,227 |  |  | $ | 783,743 |  |  | $ | 338,800 |  |  | $ | 291,991 |  |  | $ | 178,436 |  |  | $ | 474,547 |  |  | $ | 53,386 |  |  | $ | - |  |  | $ | 3,152,130 |
Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 67,069 |  |  | $ | 94,878 |  |  | $ | 40,051 |  |  | $ | - |  |  | $ | 596 |  |  | $ | - |  |  | $ | 17,660 |  |  | $ | - |  |  | $ | 220,254 |
Special Mention |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total Construction |  | $ | 67,069 |  |  | $ | 94,878 |  |  | $ | 40,051 |  |  | $ | - |  |  | $ | 596 |  |  | $ | - |  |  | $ | 17,660 |  |  | $ | - |  |  | $ | 220,254 |
Lease Financing |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 21,637 |  |  | $ | 15,075 |  |  | $ | 15,697 |  |  | $ | 9,902 |  |  | $ | 2,004 |  |  | $ | 39,937 |  |  | $ | - |  |  | $ | - |  |  | $ | 104,252 |
Classified |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 856 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 856 |
Total Lease Financing |  | $ | 21,637 |  |  | $ | 15,075 |  |  | $ | 15,697 |  |  | $ | 10,758 |  |  | $ | 2,004 |  |  | $ | 39,937 |  |  | $ | - |  |  | $ | - |  |  | $ | 105,108 |
Total Commercial |  | $ | 1,675,218 |  |  | $ | 1,270,223 |  |  | $ | 474,461 |  |  | $ | 372,765 |  |  | $ | 208,787 |  |  | $ | 607,387 |  |  | $ | 356,826 |  |  | $ | 525 |  |  | $ | 4,966,192 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential Mortgage 1 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 1,392,337 |  |  | $ | 1,131,330 |  |  | $ | 367,525 |  |  | $ | 177,215 |  |  | $ | 256,825 |  |  | $ | 982,759 |  |  | $ | - |  |  | $ | - |  |  | $ | 4,307,991 |
Classified |  |  | - |  |  |  | - |  |  |  | 294 |  |  |  | - |  |  |  | 905 |  |  |  | 412 |  |  |  | - |  |  |  | - |  |  |  | 1,611 |
Total Residential Mortgage |  | $ | 1,392,337 |  |  | $ | 1,131,330 |  |  | $ | 367,819 |  |  | $ | 177,215 |  |  | $ | 257,730 |  |  | $ | 983,171 |  |  | $ | - |  |  | $ | - |  |  | $ | 4,309,602 |
Home Equity 1 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 2,986 |  |  | $ | 1,795,107 |  |  | $ | 35,427 |  |  | $ | 1,833,520 |
Classified |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 58 |  |  |  | 2,649 |  |  |  | 361 |  |  |  | 3,068 |
Total Home Equity |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 3,044 |  |  | $ | 1,797,756 |  |  | $ | 35,788 |  |  | $ | 1,836,588 |
Automobile |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 301,285 |  |  | $ | 152,022 |  |  | $ | 138,887 |  |  | $ | 91,411 |  |  | $ | 33,268 |  |  | $ | 18,963 |  |  | $ | - |  |  | $ | - |  |  | $ | 735,836 |
Classified |  |  | 165 |  |  |  | 85 |  |  |  | 134 |  |  |  | 137 |  |  |  | 120 |  |  |  | 88 |  |  |  | - |  |  |  | - |  |  |  | 729 |
Total Automobile |  | $ | 301,450 |  |  | $ | 152,107 |  |  | $ | 139,021 |  |  | $ | 91,548 |  |  | $ | 33,388 |  |  | $ | 19,051 |  |  | $ | - |  |  | $ | - |  |  | $ | 736,565 |
Other 2 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 172,735 |  |  | $ | 49,769 |  |  | $ | 92,983 |  |  | $ | 44,489 |  |  | $ | 16,218 |  |  | $ | 6,444 |  |  | $ | 25,622 |  |  | $ | 1,444 |  |  | $ | 409,704 |
Classified |  |  | 39 |  |  |  | 90 |  |  |  | 183 |  |  |  | 47 |  |  |  | 27 |  |  |  | 17 |  |  |  | 22 |  |  |  | - |  |  |  | 425 |
Total Other |  | $ | 172,774 |  |  | $ | 49,859 |  |  | $ | 93,166 |  |  | $ | 44,536 |  |  | $ | 16,245 |  |  | $ | 6,461 |  |  | $ | 25,644 |  |  | $ | 1,444 |  |  | $ | 410,129 |
Total Consumer |  | $ | 1,866,561 |  |  | $ | 1,333,296 |  |  | $ | 600,006 |  |  | $ | 313,299 |  |  | $ | 307,363 |  |  | $ | 1,011,727 |  |  | $ | 1,823,400 |  |  | $ | 37,232 |  |  | $ | 7,292,884 |
Total Loans and Leases |  | $ | 3,541,779 |  |  | $ | 2,603,519 |  |  | $ | 1,074,467 |  |  | $ | 686,064 |  |  | $ | 516,150 |  |  | $ | 1,619,114 |  |  | $ | 2,180,226 |  |  | $ | 37,757 |  |  | $ | 12,259,076 |
1 | Certain prior period information has been reclassified to conform to current presentations.
2 | Comprised of other revolving credit, installment, and lease financing.
For the year ended December 31, 2021, $4.1 million revolving loans were converted to term loans. Aging Analysis Loans and leases are considered to be past due once becoming 30 days delinquent. For the consumer portfolio, this generally represents two missed monthly payments. The following presents by class, an aging analysis of the Company’s loan and lease portfolio as of March 31, 2022, and December 31, 2021.
(dollars in thousands) |  | 30 - 59 Days Past Due |  |  | 60 - 89 Days Past Due |  |  | Past Due 90 Days or More |  |  | Non- Accrual |  |  | Total Past Due and Non- Accrual |  |  | Current |  |  | Total Loans and Leases |  |  | Non- Accrual Loans and Leases that are Current 2 |
As of March 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial |  | $ | 145 |  |  | $ | 1,887 |  |  | $ | 22 |  |  | $ | 99 |  |  | $ | 2,153 |  |  | $ | 1,352,604 |  |  | $ | 1,354,757 |  |  | $ | 75 |
Paycheck Protection Program |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 57,809 |  |  |  | 57,809 |  |  |  | — |
Commercial Mortgage |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 8,065 |  |  |  | 8,065 |  |  |  | 3,249,624 |  |  |  | 3,257,689 |  |  |  | 8,065 |
Construction |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 248,363 |  |  |  | 248,363 |  |  |  | — |
Lease Financing |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 98,107 |  |  |  | 98,107 |  |  |  | — |
Total Commercial |  |  | 145 |  |  |  | 1,887 |  |  |  | 22 |  |  |  | 8,164 |  |  |  | 10,218 |  |  |  | 5,006,507 |  |  |  | 5,016,725 |  |  |  | 8,140 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential Mortgage |  |  | 3,102 |  |  |  | 225 |  |  |  | 4,113 |  |  |  | 3,845 |  |  |  | 11,285 |  |  |  | 4,394,433 |  |  |  | 4,405,718 |  |  |  | 202 |
Home Equity |  |  | 1,223 |  |  |  | 475 |  |  |  | 2,722 |  |  |  | 5,638 |  |  |  | 10,058 |  |  |  | 1,948,227 |  |  |  | 1,958,285 |  |  |  | 1,349 |
Automobile |  |  | 9,185 |  |  |  | 1,169 |  |  |  | 504 |  |  |  | — |  |  |  | 10,858 |  |  |  | 732,076 |  |  |  | 742,934 |  |  |  | — |
Other 1 |  |  | 2,017 |  |  |  | 858 |  |  |  | 649 |  |  |  | — |  |  |  | 3,524 |  |  |  | 417,306 |  |  |  | 420,830 |  |  |  | — |
Total Consumer |  |  | 15,527 |  |  |  | 2,727 |  |  |  | 7,988 |  |  |  | 9,483 |  |  |  | 35,725 |  |  |  | 7,492,042 |  |  |  | 7,527,767 |  |  |  | 1,551 |
Total |  | $ | 15,672 |  |  | $ | 4,614 |  |  | $ | 8,010 |  |  | $ | 17,647 |  |  | $ | 45,943 |  |  | $ | 12,498,549 |  |  | $ | 12,544,492 |  |  | $ | 9,691 |
As of December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial |  | $ | 2,006 |  |  | $ | 14 |  |  | $ | — |  |  | $ | 243 |  |  | $ | 2,263 |  |  | $ | 1,359,658 |  |  | $ | 1,361,921 |  |  | $ | 151 |
Paycheck Protection Program |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 126,779 |  |  |  | 126,779 |  |  |  | — |
Commercial Mortgage |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 8,205 |  |  |  | 8,205 |  |  |  | 3,143,925 |  |  |  | 3,152,130 |  |  |  | 8,205 |
Construction |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 220,254 |  |  |  | 220,254 |  |  |  | — |
Lease Financing |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 105,108 |  |  |  | 105,108 |  |  |  | — |
Total Commercial |  |  | 2,006 |  |  |  | 14 |  |  |  | — |  |  |  | 8,448 |  |  |  | 10,468 |  |  |  | 4,955,724 |  |  |  | 4,966,192 |  |  |  | 8,356 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential Mortgage |  |  | 2,046 |  |  |  | 1,263 |  |  |  | 3,159 |  |  |  | 3,305 |  |  |  | 9,773 |  |  |  | 4,299,829 |  |  |  | 4,309,602 |  |  |  | — |
Home Equity |  |  | 1,791 |  |  |  | 748 |  |  |  | 3,456 |  |  |  | 4,881 |  |  |  | 10,876 |  |  |  | 1,825,712 |  |  |  | 1,836,588 |  |  |  | 1,544 |
Automobile |  |  | 7,804 |  |  |  | 1,495 |  |  |  | 729 |  |  |  | — |  |  |  | 10,028 |  |  |  | 726,537 |  |  |  | 736,565 |  |  |  | — |
Other 1 |  |  | 2,686 |  |  |  | 904 |  |  |  | 426 |  |  |  | — |  |  |  | 4,016 |  |  |  | 406,113 |  |  |  | 410,129 |  |  |  | — |
Total Consumer |  |  | 14,327 |  |  |  | 4,410 |  |  |  | 7,770 |  |  |  | 8,186 |  |  |  | 34,693 |  |  |  | 7,258,191 |  |  |  | 7,292,884 |  |  |  | 1,544 |
Total |  | $ | 16,333 |  |  | $ | 4,424 |  |  | $ | 7,770 |  |  | $ | 16,634 |  |  | $ | 45,161 |  |  | $ | 12,213,915 |  |  | $ | 12,259,076 |  |  | $ | 9,900 |
1 | Comprised of other revolving credit, installment, and lease financing.
2 | Represents non-accrual loans that are not past due 30 days or more; however, full payment of principal and interest is still not expected.
Non-Accrual Loans and Leases The following presents the non-accrual loans and leases as of March 31, 2022, and December 31, 2021.
|  | March 31, 2022 |  |  | December 31, 2021 |
(dollars in thousands) |  | Non-accrual loans with a related ACL |  |  | Non-accrual loans without a related ACL |  |  | Total Non- accrual loans |  |  | Non-accrual loans with a related ACL |  |  | Non-accrual loans without a related ACL |  |  | Total Non- accrual loans |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial |  | $ | 99 |  |  | $ | — |  |  | $ | 99 |  |  | $ | 243 |  |  | $ | — |  |  | $ | 243 |
Commercial Mortgage |  |  | 4,557 |  |  |  | 3,508 |  |  |  | 8,065 |  |  |  | 4,661 |  |  |  | 3,544 |  |  |  | 8,205 |
Total Commercial |  |  | 4,656 |  |  |  | 3,508 |  |  |  | 8,164 |  |  |  | 4,904 |  |  |  | 3,544 |  |  |  | 8,448 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential Mortgage |  |  | 3,031 |  |  |  | 814 |  |  |  | 3,845 |  |  |  | 2,959 |  |  |  | 346 |  |  |  | 3,305 |
Home Equity |  |  | 5,638 |  |  |  | — |  |  |  | 5,638 |  |  |  | 4,881 |  |  |  | — |  |  |  | 4,881 |
Total Consumer |  |  | 8,669 |  |  |  | 814 |  |  |  | 9,483 |  |  |  | 7,840 |  |  |  | 346 |  |  |  | 8,186 |
Total |  | $ | 13,325 |  |  | $ | 4,322 |  |  | $ | 17,647 |  |  | $ | 12,744 |  |  | $ | 3,890 |  |  | $ | 16,634 |
All payments received while on non-accrual status are applied against the principal balance of the loan or lease. The Company does not recognize interest income while loans or leases are on non-accrual status. Modifications A modification of a loan constitutes a troubled debt restructuring (“TDR”) when the Company, for economic or legal reasons related to a borrower’s financial difficulties, grants a concession to the borrower that it would not otherwise consider. Loans modified in a TDR were $63.7 million as of March 31, 2022, and $70.0 million as of December 31, 2021. There were $0.1 million and $0.2 million commitments to lend additional funds on loans modified in a TDR as of March 31, 2022, and December 31, 2021, respectively. Loans modified in a TDR may be on non-accrual status and partial charge-offs have in some cases already been taken against the outstanding loan balance. As a result, loans modified in a TDR may have the financial effect of reducing the specific Allowance associated with the loan because the potential loss has been recognized. An Allowance for impaired commercial and consumer loans that have been modified in a TDR is measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price, or the estimated fair value of the collateral, less any selling costs, if the loan is collateral dependent. Management exercises significant judgment in developing these estimates. The following presents by class, information related to loans modified in a TDR during the three months ended March 31, 2022, and March 31, 2021.
|  | Loans Modified as a TDR for the Three Months Ended March 31, 2022 |  |  | Loans Modified as a TDR for the Three Months Ended March 31, 2021 |
|  |  |  |  |  | Recorded |  |  | Increase in |  |  |  |  |  |  | Recorded |  |  | Increase in |
Troubled Debt Restructurings |  |  |  |  |  | Investment |  |  | Allowance |  |  |  |  |  |  | Investment |  |  | Allowance |
(dollars in thousands) |  | Number of Contracts |  |  | (as of period end)1 |  |  | (as of period end) |  |  | Number of Contracts |  |  | (as of period end)1 |  |  | (as of period end) |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and Industrial |  |  | — |  |  | $ | — |  |  | $ | — |  |  |  | 5 |  |  | $ | 112 |  |  | $ | 1 |
Total Commercial |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5 |  |  |  | 112 |  |  |  | 1 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential Mortgage |  |  | 5 |  |  |  | 934 |  |  |  | 59 |  |  |  | — |  |  |  | — |  |  |  | — |
Home Equity |  |  | 1 |  |  |  | 36 |  |  |  | — |  |  |  | 1 |  |  |  | 52 |  |  |  | 4 |
Automobile |  |  | 27 |  |  |  | 538 |  |  |  | 7 |  |  |  | 394 |  |  |  | 8,287 |  |  |  | 115 |
Other 2 |  |  | 21 |  |  |  | 141 |  |  |  | 5 |  |  |  | 214 |  |  |  | 1,965 |  |  |  | 79 |
Total Consumer |  |  | 54 |  |  |  | 1,649 |  |  |  | 71 |  |  |  | 609 |  |  |  | 10,304 |  |  |  | 198 |
Total |  |  | 54 |  |  | $ | 1,649 |  |  | $ | 71 |  |  |  | 614 |  |  | $ | 10,416 |  |  | $ | 199 |
1 | The period end balances reflect all paydowns and charge-offs since the modification date. TDRs fully paid-off, charged-off, or foreclosed upon by period end are not included.
2 | Comprised of other revolving credit and installment financing.
The following presents by class, all loans modified in a TDR that defaulted during the three months ended March 31, 2022, and March 31, 2021, and within twelve months of their modification date. A TDR is considered to be in default once it becomes 60 days or more past due following a modification.
|  | Three Months Ended March 31, 2022 |  |  | Three Months Ended March 31, 2021 |
TDRs that Defaulted During the Period, |  |  |  |  |  | Recorded |  |  |  |  |  |  | Recorded |
Within Twelve Months of their Modification Date |  | Number of |  |  | Investment |  |  | Number of |  |  | Investment |
(dollars in thousands) |  | Contracts |  |  | (as of period end)1 |  |  | Contracts |  |  | (as of period end)1 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home Equity |  |  | 1 |  |  | $ | 80 |  |  |  | — |  |  | $ | — |
Automobile |  |  | 13 |  |  |  | 248 |  |  |  | 18 |  |  |  | 281 |
Other 2 |  |  | 18 |  |  |  | 120 |  |  |  | 4 |  |  |  | 27 |
Total Consumer |  |  | 32 |  |  |  | 448 |  |  |  | 22 |  |  |  | 308 |
Total |  |  | 32 |  |  | $ | 448 |  |  |  | 22 |  |  | $ | 308 |
1 | The period end balances reflect all paydowns and charge-offs since the modification date. TDRs fully paid-off, charged-off, or foreclosed upon by period end are not included.
2 | Comprised of other revolving credit and installment financing.
Commercial and consumer loans modified in a TDR are closely monitored for delinquency as an early indicator of possible future default. If loans modified in a TDR subsequently default, the Company evaluates the loan for possible further impairment. The specific Allowance associated with the loan may be changed by additional increases, adjustments, or partial charge-offs to further write-down the carrying value of the loan. In accordance with Section 4013 of the CARES Act and the joint agency statement issued by banking agencies, certain qualified loan and lease modifications related to the COVID-19 pandemic are not accounted for as TDRs. These loan and lease modifications totaled $40.5 million (8 loans) for the commercial segment and $0.2 million (1 loan) for the consumer segment as of March 31, 2022, and $40.5 million (8 loans) for the commercial segment and $3.1 million (11 loans) for the consumer segment as of December 31, 2021. Foreclosure Proceedings Consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure totaled $1.5 million as of March 31, 2022.

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- Definition The disclosure of Loans and Leases and the Allowance for Loan and Lease Losses includes: (1) balances in the entity's classes of loans and leases as of period end; (2) roll forward of the entity's Allowance for Loan and Lease Losses by portfolio segment; (3) balances in the entity's classes of loans and leases by internal credit quality indicators as of period end; (4) an aging analysis of the entity's classes of loans and leases as of period end; (5) balances of impaired loans by the entity's classes of loans as of period end; and (6) information related to the average recorded investment and interest income recognized on impaired loans for the periods presented. + References No definition available. + Details
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