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Loans and Leases and the Allowance for Credit Losses (Tables)

9 Months Ended

Sep. 30, 2023

Loans And Leases And Allowance For Loan And Lease Losses [Abstract]

Schedule of Loan and Lease Portfolio

The Company’s loan and lease portfolio was comprised of the following as of September 30, 2023, and December 31, 2022:


(dollars in thousands)		September 30, 2023				December 31, 2022
Commercial
Commercial and Industrial		$	1,569,572			$	1,389,066
Paycheck Protection Program			12,529				19,579
Commercial Mortgage			3,784,339				3,725,542
Construction			251,507				260,825
Lease Financing			61,522				69,491
Total Commercial			5,679,469				5,464,503
Consumer
Residential Mortgage			4,699,140				4,653,072
Home Equity			2,285,974				2,225,950
Automobile			856,113				870,396
Other 2			398,795				432,499
Total Consumer			8,240,022				8,181,917
Total Loans and Leases		$	13,919,491			$	13,646,420

1.

Comprised of other revolving credit, installment, and lease financing.

Schedule of Activity in Allowance by Portfolio Segment

The following presents by portfolio segment, the activity in the Allowance for the three and nine months ended September 30, 2023, and September 30, 2022.


(dollars in thousands)		Commercial				Consumer				Total
Three Months Ended September 30, 2023
Allowance for Credit Losses:
Balance at Beginning of Period		$	63,941			$	81,426			$	145,367
Loans and Leases Charged-Off			(294	)			(3,323	)			(3,617	)
Recoveries on Loans and Leases Previously Charged-Off			72				1,496				1,568
Net Loans and Leases Recovered (Charged-Off)			(222	)			(1,827	)			(2,049	)
Provision for Credit Losses			4,283				(2,338	)			1,945
Balance at End of Period		$	68,002			$	77,261			$	145,263
Nine Months Ended September 30, 2023
Allowance for Credit Losses:
Balance at Beginning of Period		$	63,900			$	80,539			$	144,439
Loans and Leases Charged-Off			(758	)			(10,679	)			(11,437	)
Recoveries on Loans and Leases Previously Charged-Off			225				5,118				5,343
Net Loans and Leases Recovered (Charged-Off)			(533	)			(5,561	)			(6,094	)
Provision for Credit Losses			4,635				2,283				6,918
Balance at End of Period		$	68,002			$	77,261			$	145,263
Three Months Ended September 30, 2022
Allowance for Credit Losses:
Balance at Beginning of Period		$	61,826			$	86,686			$	148,512
Loans and Leases Charged-Off			(147	)			(2,718	)			(2,865	)
Recoveries on Loans and Leases Previously Charged-Off			45				1,673				1,718
Net Loans and Leases Recovered (Charged-Off)			(102	)			(1,045	)			(1,147	)
Provision for Credit Losses			157				(1,086	)			(929	)
Balance at End of Period		$	61,881			$	84,555			$	146,436
Nine Months Ended September 30, 2022
Allowance for Credit Losses:
Balance at Beginning of Period		$	64,950			$	92,871			$	157,821
Loans and Leases Charged-Off			(729	)			(9,390	)			(10,119	)
Recoveries on Loans and Leases Previously Charged-Off			465				6,390				6,855
Net Loans and Leases Recovered (Charged-Off)			(264	)			(3,000	)			(3,264	)
Provision for Credit Losses			(2,805	)			(5,316	)			(8,121	)
Balance at End of Period		$	61,881			$	84,555			$	146,436

Schedule of Recorded Investment in Loans and Leases by Class and Credit Quality Indicator

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 September 30, 2023.


		Term Loans by Origination Year
(dollars in thousands)	2023 2					2022				2021				2020				2019				Prior				Revolving Loans				Revolving Loans Converted to Term Loans				Total Loans and Leases
September 30, 2023
Commercial
Commercial and Industrial
Pass		$	277,427			$	271,993			$	242,363			$	152,581			$	42,673			$	82,144			$	369,945			$	483			$	1,439,609
Special Mention			42,774				5,157				-				-				695				-				39,956				-				88,582
Classified			11,911				2,784				7,960				6,638				-				8,245				3,828				15				41,381
Total Commercial and Industrial		$	332,112			$	279,934			$	250,323			$	159,219			$	43,368			$	90,389			$	413,729			$	498			$	1,569,572
Paycheck Protection Program
Pass		$	-			$	-			$	2,445			$	10,084			$	-			$	-			$	-			$	-			$	12,529
Total Paycheck Protection Program		$	-			$	-			$	2,445			$	10,084			$	-			$	-			$	-			$	-			$	12,529
Commercial Mortgage
Pass		$	756,211			$	1,004,342			$	713,794			$	441,404			$	247,429			$	435,257			$	42,790			$	-			$	3,641,227
Special Mention			30,463				61,654				-				3,908				307				13,551				-				-				109,883
Classified			2,996				162				1,342				13,139				233				15,357				-				-				33,229
Total Commercial Mortgage		$	789,670			$	1,066,158			$	715,136			$	458,451			$	247,969			$	464,165			$	42,790			$	-			$	3,784,339
Construction
Pass		$	20,606			$	132,155			$	76,109			$	2,820			$	16,101			$	297			$	3,419			$	-			$	251,507
Total Construction		$	20,606			$	132,155			$	76,109			$	2,820			$	16,101			$	297			$	3,419			$	-			$	251,507
Lease Financing
Pass		$	7,046			$	13,905			$	14,570			$	9,160			$	6,787			$	8,646			$	-			$	-			$	60,114
Classified			627				54				125				102				-				500				-				-				1,408
Total Lease Financing		$	7,673			$	13,959			$	14,695			$	9,262			$	6,787			$	9,146			$	-			$	-			$	61,522
Total Commercial		$	1,150,061			$	1,492,206			$	1,058,708			$	639,836			$	314,225			$	563,997			$	459,938			$	498			$	5,679,469
Consumer
Residential Mortgage
Pass		$	267,172			$	799,565			$	1,257,550			$	988,296			$	306,197			$	1,078,785			$	-			$	-			$	4,697,565
Classified			-				-				-				-				-				1,575				-				-				1,575
Total Residential Mortgage		$	267,172			$	799,565			$	1,257,550			$	988,296			$	306,197			$	1,080,360			$	-			$	-			$	4,699,140
Home Equity
Pass		$	-			$	-			$	-			$	-			$	-			$	44			$	2,242,699			$	40,870			$	2,283,613
Classified			-				-				-				-				-				-				1,291				1,070				2,361
Total Home Equity		$	-			$	-			$	-			$	-			$	-			$	44			$	2,243,990			$	41,940			$	2,285,974
Automobile
Pass		$	205,059			$	326,054			$	164,714			$	73,234			$	55,196			$	31,464			$	-			$	-			$	855,721
Classified			39				59				149				56				6				83				-				-				392
Total Automobile		$	205,098			$	326,113			$	164,863			$	73,290			$	55,202			$	31,547			$	-			$	-			$	856,113
Other1
Pass		$	74,075			$	150,228			$	99,977			$	16,432			$	21,154			$	34,871			$	1,415			$	-			$	398,152
Classified			118				158				161				21				85				100				-				-				643
Total Other		$	74,193			$	150,386			$	100,138			$	16,453			$	21,239			$	34,971			$	1,415			$	-			$	398,795
Total Consumer		$	546,463			$	1,276,064			$	1,522,551			$	1,078,039			$	382,638			$	1,146,922			$	2,245,405			$	41,940			$	8,240,022
Total Loans and Leases		$	1,696,524			$	2,768,270			$	2,581,259			$	1,717,875			$	696,863			$	1,710,919			$	2,705,343			$	42,438			$	13,919,491

1.

Comprised of other revolving credit, installment, and lease financing.

2.

Loans reported as Special Mention or Classified in the 2023 column represent renewal of loans that originated in an earlier period.

For the nine months ended September 30, 2023, $7.4 million of 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, 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
December 31, 2022
Commercial
Commercial and Industrial
Pass		$	360,748			$	348,300			$	224,264			$	59,127			$	46,799			$	71,906			$	257,349			$	155			$	1,368,648
Special Mention			273				-				-				-				96				92				1,357				-				1,818
Classified			7,295				91				1,030				-				1,644				6,267				2,252				21				18,600
Total Commercial and Industrial		$	368,316			$	348,391			$	225,294			$	59,127			$	48,539			$	78,265			$	260,958			$	176			$	1,389,066
Paycheck Protection Program
Pass		$	-			$	5,359			$	14,220			$	-			$	-			$	-			$	-			$	-			$	19,579
Total Paycheck Protection Program		$	-			$	5,359			$	14,220			$	-			$	-			$	-			$	-			$	-			$	19,579
Commercial Mortgage
Pass		$	1,182,831			$	771,375			$	691,054			$	283,553			$	131,055			$	494,924			$	48,771			$	-			$	3,603,563
Special Mention			29,707				37,657				28,105				-				1,482				5,014				-				-				101,965
Classified			182				1,964				8,545				624				-				8,699				-				-				20,014
Total Commercial Mortgage		$	1,212,720			$	810,996			$	727,704			$	284,177			$	132,537			$	508,637			$	48,771			$	-			$	3,725,542
Construction
Pass		$	124,507			$	69,992			$	37,133			$	16,838			$	-			$	297			$	12,058			$	-			$	260,825
Total Construction		$	124,507			$	69,992			$	37,133			$	16,838			$	-			$	297			$	12,058			$	-			$	260,825
Lease Financing
Pass		$	16,959			$	17,823			$	11,408			$	9,768			$	6,379			$	6,444			$	-			$	-			$	68,781
Classified			-				-				-				-				710				-				-				-				710
Total Lease Financing		$	16,959			$	17,823			$	11,408			$	9,768			$	7,089			$	6,444			$	-			$	-			$	69,491
Total Commercial		$	1,722,502			$	1,252,561			$	1,015,759			$	369,910			$	188,165			$	593,643			$	321,787			$	176			$	5,464,503
Consumer
Residential Mortgage
Pass		$	827,909			$	1,304,831			$	1,035,285			$	321,208			$	138,214			$	1,023,841			$	-			$	-			$	4,651,288
Classified			-				-				-				-				552				1,232				-				-				1,784
Total Residential Mortgage		$	827,909			$	1,304,831			$	1,035,285			$	321,208			$	138,766			$	1,025,073			$	-			$	-			$	4,653,072
Home Equity
Pass		$	-			$	-			$	-			$	-			$	-			$	890			$	2,186,598			$	36,114			$	2,223,602
Classified			-				-				-				-				-				25				1,105				1,218				2,348
Total Home Equity		$	-			$	-			$	-			$	-			$	-			$	915			$	2,187,703			$	37,332			$	2,225,950
Automobile
Pass		$	405,440			$	216,039			$	100,608			$	84,052			$	45,301			$	18,366			$	-			$	-			$	869,806
Classified			121				260				23				43				92				51				-				-				590
Total Automobile		$	405,561			$	216,299			$	100,631			$	84,095			$	45,393			$	18,417			$	-			$	-			$	870,396
Other1
Pass		$	185,347			$	124,759			$	31,343			$	39,902			$	16,364			$	9,853			$	23,228			$	1,020			$	431,816
Classified			117				114				70				148				129				24				59				22				683
Total Other		$	185,464			$	124,873			$	31,413			$	40,050			$	16,493			$	9,877			$	23,287			$	1,042			$	432,499
Total Consumer		$	1,418,934			$	1,646,003			$	1,167,329			$	445,353			$	200,652			$	1,054,282			$	2,210,990			$	38,374			$	8,181,917
Total Loans and Leases		$	3,141,436			$	2,898,564			$	2,183,088			$	815,263			$	388,817			$	1,647,925			$	2,532,777			$	38,550			$	13,646,420

1.

Comprised of other revolving credit, installment, and lease financing.

Schedule of Aging Analysis by Class of Loan and Lease Portfolio

The following presents by class, an aging analysis of the Company’s loan and lease portfolio as of September 30, 2023, and December 31, 2022.


(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 September 30, 2023
Commercial
Commercial and Industrial		$	661			$	453			$	—			$	43			$	1,157			$	1,568,415			$	1,569,572			$	43
Paycheck Protection Program			—				—				—				—				—				12,529				12,529				—
Commercial Mortgage			—				—				—				2,996				2,996				3,781,343				3,784,339				2,996
Construction			—				—				—				—				—				251,507				251,507				—
Lease Financing			—				—				—				—				—				61,522				61,522				—
Total Commercial			661				453				—				3,039				4,153				5,675,316				5,679,469				3,039
Consumer
Residential Mortgage			3,176				877				3,519				3,706				11,278				4,687,862				4,699,140				765
Home Equity			3,407				1,750				2,172				3,734				11,063				2,274,911				2,285,974				740
Automobile			10,072				1,089				393				—				11,554				844,559				856,113				—
Other 1			2,311				1,036				643				—				3,990				394,805				398,795				—
Total Consumer			18,966				4,752				6,727				7,440				37,885				8,202,137				8,240,022				1,505
Total		$	19,627			$	5,205			$	6,727			$	10,479			$	42,038			$	13,877,453			$	13,919,491			$	4,544

As of December 31, 2022
Commercial
Commercial and Industrial		$	252			$	9			$	—			$	37			$	298			$	1,388,768			$	1,389,066			$	37
Paycheck Protection Program			—				—				—				—				—				19,579				19,579				—
Commercial Mortgage			—				—				—				3,309				3,309				3,722,233				3,725,542				3,309
Construction			—				—				—				—				—				260,825				260,825				—
Lease Financing			—				—				—				—				—				69,491				69,491				—
Total Commercial			252				9				—				3,346				3,607				5,460,896				5,464,503				3,346
Consumer
Residential Mortgage			3,016				721				2,429				4,239				10,405				4,642,667				4,653,072				1,729
Home Equity			1,639				960				1,673				4,022				8,294				2,217,656				2,225,950				664
Automobile			13,293				1,988				589				—				15,870				854,526				870,396				—
Other 1			2,318				1,302				683				—				4,303				428,196				432,499				—
Total Consumer			20,266				4,971				5,374				8,261				38,872				8,143,045				8,181,917				2,393
Total		$	20,518			$	4,980			$	5,374			$	11,607			$	42,479			$	13,603,941			$	13,646,420			$	5,739

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.

Schedule of Non-Accrual Loans and Leases

The following presents the non-accrual loans and leases as of September 30, 2023, and December 31, 2022.


		September 30, 2023												December 31, 2022
(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		$	43			$	—			$	43			$	37			$	—			$	37
Commercial Mortgage			—				2,996				2,996				—				3,309				3,309
Total Commercial			43				2,996				3,039				37				3,309				3,346
Consumer
Residential Mortgage			3,706				—				3,706				4,239				—				4,239
Home Equity			3,734				—				3,734				4,022				—				4,022
Total Consumer			7,440				—				7,440				8,261				—				8,261
Total		$	7,483			$	2,996			$	10,479			$	8,298			$	3,309			$	11,607

Schedule of Amortized Cost Basis and Financial Effect of Loan Modifications to Borrowers Experiencing Financial Difficulty

The following table presents the amortized cost basis of loan modifications made to borrowers experiencing financial difficulty during three and nine months ended September 30, 2023.


																					%
							Payment			Term											of
							Delay			Extension and											Total
				Interest			and			Interest											Class of
	Term			Rate			Term			Rate			Payment								Loans and
(dollars in thousands)	Extension			Reduction			Extension			Reduction			Delay				Total				Leases
Three Months Ended September 30, 2023
Commercial
Commercial and Industrial	$	19		$	—		$	—		$	—		$	—			$	19				0.00	%
Total Commercial		19			—			—			—			—				19				0.00	%
Consumer
Residential Mortgage		—			—			—			—			715				715				0.02	%
Automobile		3,231			—			—			—			—				3,231				0.38	%
Other1		373			—			—			—			—				373				0.09	%
Total Consumer		3,604			—			—			—			715				4,319				0.05	%
Total Loans and Leases	$	3,623		$	—		$	—		$	—		$	715			$	4,338				0.03	%

Nine Months Ended September 30, 2023
Commercial
Commercial and Industrial	$	109		$	—		$	6,102		$	—		$	—			$	6,211				0.40	%
Commercial Mortgage		—			946			—			—			—				946				0.02	%
Total Commercial		109			946			6,102			—			—				7,157				0.13	%
Consumer
Residential Mortgage		132			—			—			—			715				847				0.02	%
Home Equity		136			—			—			—			—				136				0.01	%
Automobile		7,428			—			—			—			—				7,428				0.87	%
Other1		732			—			—			—			—				732				0.18	%
Total Consumer		8,428			—			—			—			715				9,143				0.11	%
Total Loans and Leases	$	8,537		$	946		$	6,102		$	—		$	715			$	16,300				0.12	%

1 Comprised of other revolving credit, installment and lease financing.

The following table presents the financial effect of loan modifications made to borrowers experiencing financial difficulty during the three and nine months ended September 30, 2023.


		Weighted-Average				Weighted-Average				Weighted-Average
		Months of				Payment				Interest Rate
(dollars in thousands)		Term Extension				Deferral				Reduction
Three Months Ended September 30, 2023
Commercial
Commercial and Industrial			31			$	—				—		%
Commercial Mortgage			—				—				2.50		%
Consumer
Residential Mortgage			—				5				—
Home Equity			—				—				—
Automobile			22				—				—
Other1			23				—				—

Nine Months Ended September 30, 2023
Commercial
Commercial and Industrial			6			$	1,159				—		%
Commercial Mortgage			—				—				2.50
Consumer
Residential Mortgage			58				5				—
Home Equity			60				—				—
Automobile			23				—				—
Other1			22				—				—

1 Comprised of other revolving credit, installment and lease financing.

The following table presents the loan modifications made to borrowers experiencing financial difficulty that defaulted during the three and nine months ended September 30, 2023.


	Term				Payment
(dollars in thousands)	Extension				Delay				Total
Three Months Ended September 30, 2023
Consumer
Residential Mortgage	$	—			$	715			$	715
Automobile		10				—				10
Total Consumer		10				715				725
Total Loans and Leases	$	10			$	715			$	725

Nine Months Ended September 30, 2023
Consumer
Residential Mortgage	$	—			$	715			$	715
Automobile		140				—				140
Other1		65				—				65
Total Consumer		205				715				920
Total Loans and Leases	$	205			$	715			$	920

1 Comprised of other revolving credit, installment and lease financing.

Schedule of Aging Analysis of Loan Modifications Made to Borrowers Experiencing Financial Difficulty

The following table presents the aging analysis of loan modifications made to borrowers experiencing financial difficulty as of September 30, 2023.


(dollars in thousands)		Current				30 - 59 Days Past Due				60 - 89 Days Past Due				Past Due 90 Days or More				Non- Accrual				Total
As of September 30, 2023
Commercial
Commercial and Industrial		$	6,121			$	90			$	—			$	—			$	—			$	6,211
Commercial Mortgage			946				—				—				—				—				946
Total Commercial			7,067				90				—				—				—				7,157
Consumer
Residential Mortgage			—				—				—				—				847				847
Home Equity			136				—				—				—				—				136
Automobile			6,505				793				102				28				—				7,428
Other1			584				95				31				22				—				732
Total Consumer			7,225				888				133				50				847				9,143
Total Loans and Leases			14,292			$	978			$	133			$	50			$	847			$	16,300

1 Comprised of other revolving credit, installment and lease financing.

Schedule of Loan Class and Year of Origination, Gross Charge-offs Recorded

The following table presents by loan class and year of origination, the gross charge-offs recorded during the three and nine months ended September 30, 2023.


(dollars in thousands)	2023				2022				2021				2020				2019				Prior				Total
Three Months Ended September 30, 2023
Commercial
Commercial and Industrial	$	162			$	—			$	—			$	84			$	—			$	48			$	294
Total Commercial		162				—				—				84				—				48				294
Consumer
Residential Mortgage		—				—				—				—				—				—				—
Home Equity		—				—				—				—				13				—				13
Automobile		134				358				309				145				246				161				1,353
Other1		455				510				360				114				238				280				1,957
Total Consumer		589				868				669				259				497				441				3,323
Total	$	751			$	868			$	669			$	343			$	497			$	489			$	3,617

Nine Months Ended September 30, 2023
Commercial
Commercial and Industrial	$	347			$	188			$	—			$	84			$	—			$	139			$	758
Total Commercial		347				188				—				84				—				139				758
Consumer
Residential Mortgage		—				—				—				—				—				6				6
Home Equity		—				—				—				—				13				55				68
Automobile		134				1,229				1,053				481				610				802				4,309
Other 1		813				1,844				1,371				316				952				1,000				6,296
Total Consumer		947				3,073				2,424				797				1,575				1,863				10,679
Total	$	1,294			$	3,261			$	2,424			$	881			$	1,575			$	2,002			$	11,437

1 Comprised of other revolving credit, installment and lease financing.