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Loans and Leases and the Allowance for Credit Losses | 9 Months Ended
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Sep. 30, 2025
Loans And Leases And Allowance For Loan And Lease Losses [Abstract] |
Loans and Leases and the Allowance for Credit Losses | 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 September 30, 2025 and December 31, 2024:
(dollars in thousands) | September 30, 2025 | December 31, 2024
Commercial |  |
Commercial Mortgage | $ | 4,040,711 |  | $ | 4,020,622 |
Commercial and Industrial | 1,581,232 |  | 1,705,133 |
Construction | 380,944 |  | 308,898 |
Lease Financing | 92,213 |  | 90,756 |
Total Commercial | 6,095,100 |  | 6,125,409 |
Consumer |  |
Residential Mortgage | 4,685,214 |  | 4,628,283 |
Home Equity | 2,129,599 |  | 2,165,514 |
Automobile | 699,244 |  | 764,146 |
Other | 412,422 |  | 392,628 |
Total Consumer | 7,926,479 |  | 7,950,571 |
Total Loans and Leases | $ | 14,021,579 |  | $ | 14,075,980 |
The majority of the Company’s lending activity is with customers located within the State of Hawai‘i. A substantial portion of the Company’s real estate loans are secured by real estate located within the State of Hawai‘i. The Company elected to exclude AIR from the amortized cost basis of loans and leases disclosed throughout this footnote. As of September 30, 2025 and December 31, 2024, AIR for loans totaled $48.3 million and $48.4 million, respectively. Allowance for Credit Losses (the “Allowance”) The following presents by portfolio segment, the activity in the Allowance for the three and nine months ended September 30, 2025 and 2024.
(dollars in thousands) | Commercial | Consumer | Total
Three Months Ended September 30, 2025 |  |  |
Allowance for Credit Losses: |  |  |
Balance at Beginning of Period | $ | 78,902 |  | $ | 69,641 |  | $ | 148,543 |
Loans and Leases Charged-Off | (171) |  | (3,788) |  | (3,959) |
Recoveries on Loans and Leases Previously Charged-Off | 98 |  | 1,284 |  | 1,382 |
Net Loans and Leases Charged-Off | (73) |  | (2,504) |  | (2,577) |
Provision for Credit Losses | (534) |  | 3,346 |  | 2,812 |
Balance at End of Period | $ | 78,295 |  | $ | 70,483 |  | $ | 148,778 |
Nine Months Ended September 30, 2025 |  |  |
Allowance for Credit Losses: |  |  |
Balance at Beginning of Period | $ | 83,900 |  | $ | 64,628 |  | $ | 148,528 |
Loans and Leases Charged-Off | (1,776) |  | (11,903) |  | (13,679) |
Recoveries on Loans and Leases Previously Charged-Off | 253 |  | 3,828 |  | 4,081 |
Net Loans and Leases Charged-Off | (1,523) |  | (8,075) |  | (9,598) |
Provision for Credit Losses | (4,082) |  | 13,930 |  | 9,848 |
Balance at End of Period | $ | 78,295 |  | $ | 70,483 |  | $ | 148,778 |
Three Months Ended September 30, 2024 |  |  |
Allowance for Credit Losses: |  |  |
Balance at Beginning of Period | $ | 80,085 |  | $ | 67,392 |  | $ | 147,477 |
Loans and Leases Charged-Off | (1,021) |  | (4,315) |  | (5,336) |
Recoveries on Loans and Leases Previously Charged-Off | 66 |  | 1,440 |  | 1,506 |
Net Loans and Leases Charged-Off | (955) |  | (2,875) |  | (3,830) |
Provision for Credit Losses | 2,825 |  | 859 |  | 3,684 |
Balance at End of Period | $ | 81,955 |  | $ | 65,376 |  | $ | 147,331 |
Nine Months Ended September 30, 2024 |  |  |
Allowance for Credit Losses: |  |  |
Balance at Beginning of Period | $ | 74,074 |  | $ | 72,329 |  | $ | 146,403 |
Loans and Leases Charged-Off | (2,256) |  | (11,665) |  | (13,921) |
Recoveries on Loans and Leases Previously Charged-Off | 445 |  | 3,972 |  | 4,417 |
Net Loans and Leases Charged-Off | (1,811) |  | (7,693) |  | (9,504) |
Provision for Credit Losses | 9,692 |  | 740 |  | 10,432 |
Balance at End of Period | $ | 81,955 |  | $ | 65,376 |  | $ | 147,331 |
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 are typically monitored and risk-rated 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 generally 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 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 the classes within the commercial portfolio segment that have potential weaknesses that warrant 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 have a well-defined weakness or weaknesses and are inadequately protected by the sound worth and paying capacity of the borrower or applicable collateral, 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 (excluding residential mortgage and home equity loans which meet the criteria for being considered Pass).
For Pass rated credits in the commercial portfolio, most risk ratings are certified at a minimum annually. For Special Mention or Classified credits in the commercial portfolio, 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 September 30, 2025.
| Term Loans by Origination Year |  |  |
(dollars in thousands) | 2025 1 | 2024 | 2023 | 2022 | 2021 | Prior | Revolving Loans | Revolving Loans Converted to Term Loans | Total Loans and Leases
September 30, 2025 |  |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |  |
Commercial Mortgage |  |  |  |  |  |  |  |  |
Pass | $ | 489,190 |  | $ | 305,933 |  | $ | 662,439 |  | $ | 881,134 |  | $ | 567,451 |  | $ | 893,704 |  | $ | 35,551 |  | $ | — |  | $ | 3,835,402 |
Special Mention | 32,500 |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | 32,500 |
Classified | 3,406 |  | 36,528 |  | 13,575 |  | 85,377 |  | 3,042 |  | 30,881 |  | — |  | — |  | 172,809 |
Total Commercial Mortgage | $ | 525,096 |  | $ | 342,461 |  | $ | 676,014 |  | $ | 966,511 |  | $ | 570,493 |  | $ | 924,585 |  | $ | 35,551 |  | $ | — |  | $ | 4,040,711 |
Gross Charge-Offs | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Commercial and Industrial |  |  |  |  |  |  |  |  |
Pass | $ | 169,766 |  | $ | 314,312 |  | $ | 246,977 |  | $ | 209,943 |  | $ | 134,594 |  | $ | 141,025 |  | $ | 307,852 |  | $ | 185 |  | $ | 1,524,654 |
Special Mention | — |  | 386 |  | — |  | — |  | — |  | — |  | 23,898 |  | — |  | 24,284 |
Classified | 385 |  | 553 |  | 14,461 |  | 2,084 |  | 2,044 |  | 3,247 |  | 9,520 |  | — |  | 32,294 |
Total Commercial and Industrial | $ | 170,151 |  | $ | 315,251 |  | $ | 261,438 |  | $ | 212,027 |  | $ | 136,638 |  | $ | 144,272 |  | $ | 341,270 |  | $ | 185 |  | $ | 1,581,232 |
Gross Charge-Offs | 315 |  | 139 |  | — |  | — |  | — |  | 1,322 |  | — |  | — |  | 1,776 |
Construction |  |  |  |  |  |  |  |  |
Pass | $ | 25,868 |  | $ | 137,884 |  | $ | 139,098 |  | $ | 49,742 |  | $ | 3,166 |  | $ | — |  | $ | 7,722 |  | $ | — |  | $ | 363,480 |
Special Mention | — |  | — |  | — |  | 14,614 |  | — |  | — |  | — |  | — |  | 14,614 |
Classified | — |  | — |  | — |  | 2,850 |  | — |  | — |  | — |  | — |  | 2,850 |
Total Construction | $ | 25,868 |  | $ | 137,884 |  | $ | 139,098 |  | $ | 67,206 |  | $ | 3,166 |  | $ | — |  | $ | 7,722 |  | $ | — |  | $ | 380,944 |
Gross Charge-Offs | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Lease Financing |  |  |  |  |  |  |  |  |
Pass | $ | 15,271 |  | $ | 46,779 |  | $ | 6,830 |  | $ | 6,958 |  | $ | 6,486 |  | $ | 9,365 |  | $ | — |  | $ | — |  | $ | 91,689 |
Classified | — |  | — |  | 402 |  | 26 |  | 57 |  | 39 |  | — |  | — |  | 524 |
Total Lease Financing | $ | 15,271 |  | $ | 46,779 |  | $ | 7,232 |  | $ | 6,984 |  | $ | 6,543 |  | $ | 9,404 |  | $ | — |  | $ | — |  | $ | 92,213 |
Gross Charge-Offs | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Commercial | $ | 736,386 |  | $ | 842,375 |  | $ | 1,083,782 |  | $ | 1,252,728 |  | $ | 716,840 |  | $ | 1,078,261 |  | $ | 384,543 |  | $ | 185 |  | $ | 6,095,100 |
Total Commercial Gross Charge-Offs | 315 |  | 139 |  | — |  | — |  | — |  | 1,322 |  | — |  | — |  | 1,776 |
Consumer |  |  |  |  |  |  |  |  |
Residential Mortgage |  |  |  |  |  |  |  |  |
Pass | $ | 339,885 |  | $ | 242,793 |  | $ | 244,336 |  | $ | 715,635 |  | $ | 1,135,044 |  | $ | 2,004,188 |  | $ | — |  | $ | — |  | $ | 4,681,881 |
Classified | — |  | — |  | — |  | 1,825 |  | — |  | 1,508 |  | — |  | — |  | 3,333 |
Total Residential Mortgage | $ | 339,885 |  | $ | 242,793 |  | $ | 244,336 |  | $ | 717,460 |  | $ | 1,135,044 |  | $ | 2,005,696 |  | $ | — |  | $ | — |  | $ | 4,685,214 |
Gross Charge-Offs | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Home Equity |  |  |  |  |  |  |  |  |
Pass | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 38 |  | $ | 2,052,721 |  | $ | 73,142 |  | $ | 2,125,901 |
Classified | — |  | — |  | — |  | — |  | — |  | — |  | 3,319 |  | 379 |  | 3,698 |
Total Home Equity | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 38 |  | $ | 2,056,040 |  | $ | 73,521 |  | $ | 2,129,599 |
Gross Charge-Offs | — |  | — |  | — |  | — |  | — |  | — |  | 157 |  | 101 |  | 258 |
Automobile |  |  |  |  |  |  |  |  |
Pass | $ | 149,021 |  | $ | 169,276 |  | $ | 141,130 |  | $ | 150,162 |  | $ | 59,792 |  | $ | 29,319 |  | $ | — |  | $ | — |  | $ | 698,700 |
Classified | 20 |  | 222 |  | 89 |  | 59 |  | 44 |  | 110 |  | — |  | — |  | 544 |
Total Automobile | $ | 149,041 |  | $ | 169,498 |  | $ | 141,219 |  | $ | 150,221 |  | $ | 59,836 |  | $ | 29,429 |  | $ | — |  | $ | — |  | $ | 699,244 |
Gross Charge-Offs | 64 |  | 1,030 |  | 1,303 |  | 980 |  | 314 |  | 681 |  | — |  | — |  | 4,372 |
Other |  |  |  |  |  |  |  |  |
Pass | $ | 123,246 |  | $ | 107,285 |  | $ | 55,314 |  | $ | 63,902 |  | $ | 32,353 |  | $ | 29,215 |  | $ | 510 |  | $ | — |  | $ | 411,825 |
Classified | 29 |  | 188 |  | 151 |  | 134 |  | 24 |  | 71 |  | — |  | — |  | 597 |
Total Other | $ | 123,275 |  | $ | 107,473 |  | $ | 55,465 |  | $ | 64,036 |  | $ | 32,377 |  | $ | 29,286 |  | $ | 510 |  | $ | — |  | $ | 412,422 |
Gross Charge-Offs | 717 |  | 1,572 |  | 1,461 |  | 1,796 |  | 995 |  | 732 |  |  |  | 7,273 |
Total Consumer | $ | 612,201 |  | $ | 519,764 |  | $ | 441,020 |  | $ | 931,717 |  | $ | 1,227,257 |  | $ | 2,064,449 |  | $ | 2,056,550 |  | $ | 73,521 |  | $ | 7,926,479 |
Total Consumer Gross Charge-Offs | 781 |  | 2,602 |  | 2,764 |  | 2,776 |  | 1,309 |  | 1,413 |  | 157 |  | 101 |  | 11,903 |
Total Loans and Leases | $ | 1,348,587 |  | $ | 1,362,139 |  | $ | 1,524,802 |  | $ | 2,184,445 |  | $ | 1,944,097 |  | $ | 3,142,710 |  | $ | 2,441,093 |  | $ | 73,706 |  | $ | 14,021,579 |
Total Gross Charge-Offs | 1,096 |  | 2,741 |  | 2,764 |  | 2,776 |  | 1,309 |  | 2,735 |  | 157 |  | 101 |  | 13,679 |
1.Loans reported as Special Mention and Classified in the 2025 column represent amendment of loans that originated in an earlier period. During the nine months ended September 30, 2025, $18.4 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, 2024.
| Term Loans by Origination Year |  |  |
(dollars in thousands) | 2024 1 | 2023 | 2022 | 2021 | 2020 | Prior | Revolving Loans | Revolving Loans Converted to Term Loans | Total Loans and Leases
December 31, 2024 |  |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |  |
Commercial Mortgage |  |  |  |  |  |  |  |  |
Pass | $ | 401,415 |  | $ | 687,580 |  | $ | 1,091,627 |  | $ | 596,386 |  | $ | 405,244 |  | $ | 600,386 |  | $ | 48,655 |  | $ | — |  | $ | 3,831,293 |
Special Mention | — |  | 47,773 |  | 1,918 |  | 3,348 |  | 2,911 |  | 15,148 |  | — |  | — |  | 71,098 |
Classified | 35,770 |  | 14,491 |  | 24,420 |  | 3,136 |  | 19,609 |  | 20,805 |  | — |  | — |  | 118,231 |
Total Commercial Mortgage | $ | 437,185 |  | $ | 749,844 |  | $ | 1,117,965 |  | $ | 602,870 |  | $ | 427,764 |  | $ | 636,339 |  | $ | 48,655 |  | $ | — |  | $ | 4,020,622 |
Gross Charge-Offs | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Commercial and Industrial |  |  |  |  |  |  |  |  |
Pass | $ | 356,831 |  | $ | 281,168 |  | $ | 236,802 |  | $ | 146,458 |  | $ | 135,158 |  | $ | 79,258 |  | $ | 375,135 |  | $ | 276 |  | $ | 1,611,086 |
Special Mention | 467 |  | — |  | — |  | — |  | — |  | — |  | 38,587 |  | — |  | 39,054 |
Classified | 325 |  | 15,614 |  | 3,483 |  | 4,831 |  | 6,590 |  | 6,427 |  | 17,716 |  | 7 |  | 54,993 |
Total Commercial and Industrial | $ | 357,623 |  | $ | 296,782 |  | $ | 240,285 |  | $ | 151,289 |  | $ | 141,748 |  | $ | 85,685 |  | $ | 431,438 |  | $ | 283 |  | $ | 1,705,133 |
Gross Charge-Offs | 362 |  | 282 |  | — |  | 1,438 |  | 128 |  | 399 |  | — |  | — |  | 2,609 |
Construction |  |  |  |  |  |  |  |  |
Pass | $ | 89,334 |  | $ | 110,153 |  | $ | 87,006 |  | $ | 1,689 |  | $ | 1,279 |  | $ | — |  | $ | 16,766 |  | $ | — |  | $ | 306,227 |
Special Mention | — |  | — |  | 2,671 |  | — |  | — |  | — |  | — |  | — |  | 2,671 |
Total Construction | $ | 89,334 |  | $ | 110,153 |  | $ | 89,677 |  | $ | 1,689 |  | $ | 1,279 |  | $ | — |  | $ | 16,766 |  | $ | — |  | $ | 308,898 |
Gross Charge-Offs | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Lease Financing |  |  |  |  |  |  |  |  |
Pass | $ | 49,360 |  | $ | 8,174 |  | $ | 9,568 |  | $ | 9,751 |  | $ | 5,244 |  | $ | 7,602 |  | $ | — |  | $ | — |  | $ | 89,699 |
Classified | — |  | 491 |  | 37 |  | 81 |  | 62 |  | 386 |  | — |  | — |  | 1,057 |
Total Lease Financing | $ | 49,360 |  | $ | 8,665 |  | $ | 9,605 |  | $ | 9,832 |  | $ | 5,306 |  | $ | 7,988 |  | $ | — |  | $ | — |  | $ | 90,756 |
Gross Charge-Offs | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Commercial | $ | 933,502 |  | $ | 1,165,444 |  | $ | 1,457,532 |  | $ | 765,680 |  | $ | 576,097 |  | $ | 730,012 |  | $ | 496,859 |  | $ | 283 |  | $ | 6,125,409 |
Total Commercial Gross Charge-Offs | 362 |  | 282 |  | — |  | 1,438 |  | 128 |  | 399 |  | — |  | — |  | 2,609 |
Consumer |  |  |  |  |  |  |  |  |
Residential Mortgage |  |  |  |  |  |  |  |  |
Pass | $ | 268,330 |  | $ | 271,985 |  | $ | 751,920 |  | $ | 1,180,191 |  | $ | 919,280 |  | $ | 1,232,582 |  | $ | — |  | $ | — |  | $ | 4,624,288 |
Classified | — |  | — |  | 858 |  | 474 |  | 735 |  | 1,928 |  | — |  | — |  | 3,995 |
Total Residential Mortgage | $ | 268,330 |  | $ | 271,985 |  | $ | 752,778 |  | $ | 1,180,665 |  | $ | 920,015 |  | $ | 1,234,510 |  | $ | — |  | $ | — |  | $ | 4,628,283 |
Gross Charge-Offs | — |  | — |  | — |  | 337 |  | — |  | 48 |  | — |  | — |  | 385 |
Home Equity |  |  |  |  |  |  |  |  |
Pass | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 40 |  | $ | 2,105,833 |  | $ | 55,963 |  | $ | 2,161,836 |
Classified | — |  | — |  | — |  | — |  | — |  | — |  | 3,092 |  | 586 |  | 3,678 |
Total Home Equity | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 40 |  | $ | 2,108,925 |  | $ | 56,549 |  | $ | 2,165,514 |
Gross Charge-Offs | — |  | — |  | — |  | — |  | — |  | — |  | 429 |  | 272 |  | 701 |
Automobile |  |  |  |  |  |  |  |  |
Pass | $ | 210,145 |  | $ | 187,136 |  | $ | 210,207 |  | $ | 94,492 |  | $ | 34,614 |  | $ | 26,777 |  | $ | — |  | $ | — |  | $ | 763,371 |
Classified | 90 |  | 191 |  | 224 |  | 154 |  | 57 |  | 59 |  | — |  | — |  | 775 |
Total Automobile | $ | 210,235 |  | $ | 187,327 |  | $ | 210,431 |  | $ | 94,646 |  | $ | 34,671 |  | $ | 26,836 |  | $ | — |  | $ | — |  | $ | 764,146 |
Gross Charge-Offs | 227 |  | 1,578 |  | 1,340 |  | 1,083 |  | 293 |  | 821 |  | — |  | — |  | 5,342 |
Other |  |  |  |  |  |  |  |  |
Pass | $ | 133,093 |  | $ | 74,068 |  | $ | 96,376 |  | $ | 52,152 |  | $ | 5,149 |  | $ | 30,580 |  | $ | 533 |  | $ | — |  | $ | 391,951 |
Classified | 51 |  | 229 |  | 246 |  | 83 |  | — |  | 68 |  | — |  | — |  | 677 |
Total Other | $ | 133,144 |  | $ | 74,297 |  | $ | 96,622 |  | $ | 52,235 |  | $ | 5,149 |  | $ | 30,648 |  | $ | 533 |  | $ | — |  | $ | 392,628 |
Gross Charge-Offs | 1,431 |  | 2,151 |  | 2,901 |  | 1,869 |  | 326 |  | 1,421 |  | — |  | — |  | 10,099 |
Total Consumer | $ | 611,709 |  | $ | 533,609 |  | $ | 1,059,831 |  | $ | 1,327,546 |  | $ | 959,835 |  | $ | 1,292,034 |  | $ | 2,109,458 |  | $ | 56,549 |  | $ | 7,950,571 |
Total Consumer Gross Charge-Offs | 1,658 |  | 3,729 |  | 4,241 |  | 3,289 |  | 619 |  | 2,290 |  | 429 |  | 272 |  | 16,527 |
Total Loans and Leases | $ | 1,545,211 |  | $ | 1,699,053 |  | $ | 2,517,363 |  | $ | 2,093,226 |  | $ | 1,535,932 |  | $ | 2,022,046 |  | $ | 2,606,317 |  | $ | 56,832 |  | $ | 14,075,980 |
Total Gross Charge-Offs | 2,020 |  | 4,011 |  | 4,241 |  | 4,727 |  | 747 |  | 2,689 |  | 429 |  | 272 |  | 19,136 |
1.Loans reported as Special Mention and Classified in the 2024 column represent amendment of loans that originated in an earlier period. During the year ended December 31, 2024, $12.7 million of 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 September 30, 2025 and December 31, 2024.
(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
As of September 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial Mortgage |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,498 |  |  | $ | 2,498 |  |  | $ | 4,038,213 |  |  | $ | 4,040,711 |  |  | $ | — |
Commercial and Industrial |  | 45 |  |  | 21 |  |  | — |  |  | 3,506 |  |  | 3,572 |  |  | 1,577,660 |  |  | 1,581,232 |  |  | 2,417 |
Construction |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 380,944 |  |  | 380,944 |  |  | — |
Lease Financing |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 92,213 |  |  | 92,213 |  |  | — |
Total Commercial |  | 45 |  |  | 21 |  |  | — |  |  | 6,004 |  |  | 6,070 |  |  | 6,089,030 |  |  | 6,095,100 |  |  | 2,417 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential Mortgage |  | 1,934 |  |  | 1,495 |  |  | 7,456 |  |  | 5,628 |  |  | 16,513 |  |  | 4,668,701 |  |  | 4,685,214 |  |  | 1,431 |
Home Equity |  | 4,803 |  |  | 934 |  |  | 2,765 |  |  | 5,107 |  |  | 13,609 |  |  | 2,115,990 |  |  | 2,129,599 |  |  | 1,427 |
Automobile |  | 15,810 |  |  | 1,828 |  |  | 525 |  |  | — |  |  | 18,163 |  |  | 681,081 |  |  | 699,244 |  |  | — |
Other |  | 1,799 |  |  | 1,044 |  |  | 579 |  |  | — |  |  | 3,422 |  |  | 409,000 |  |  | 412,422 |  |  | — |
Total Consumer |  | 24,346 |  |  | 5,301 |  |  | 11,325 |  |  | 10,735 |  |  | 51,707 |  |  | 7,874,772 |  |  | 7,926,479 |  |  | 2,858 |
Total |  | $ | 24,391 |  |  | $ | 5,322 |  |  | $ | 11,325 |  |  | $ | 16,739 |  |  | $ | 57,777 |  |  | $ | 13,963,802 |  |  | $ | 14,021,579 |  |  | $ | 5,275 |
As of December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial Mortgage |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,450 |  |  | $ | 2,450 |  |  | $ | 4,018,172 |  |  | $ | 4,020,622 |  |  | $ | — |
Commercial and Industrial |  | 90 |  |  | 117 |  |  | — |  |  | 4,627 |  |  | 4,834 |  |  | 1,700,299 |  |  | 1,705,133 |  |  | — |
Construction |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 308,898 |  |  | 308,898 |  |  | — |
Lease Financing |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 90,756 |  |  | 90,756 |  |  | — |
Total Commercial |  | 90 |  |  | 117 |  |  | — |  |  | 7,077 |  |  | 7,284 |  |  | 6,118,125 |  |  | 6,125,409 |  |  | — |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential Mortgage |  | 5,184 |  |  | 4,174 |  |  | 3,984 |  |  | 5,052 |  |  | 18,394 |  |  | 4,609,889 |  |  | 4,628,283 |  |  | 424 |
Home Equity |  | 6,109 |  |  | 2,753 |  |  | 2,845 |  |  | 4,514 |  |  | 16,221 |  |  | 2,149,293 |  |  | 2,165,514 |  |  | 1,438 |
Automobile |  | 16,443 |  |  | 1,661 |  |  | 776 |  |  | — |  |  | 18,880 |  |  | 745,266 |  |  | 764,146 |  |  | — |
Other |  | 2,565 |  |  | 1,076 |  |  | 677 |  |  | — |  |  | 4,318 |  |  | 388,310 |  |  | 392,628 |  |  | — |
Total Consumer |  | 30,301 |  |  | 9,664 |  |  | 8,282 |  |  | 9,566 |  |  | 57,813 |  |  | 7,892,758 |  |  | 7,950,571 |  |  | 1,862 |
Total |  | $ | 30,391 |  |  | $ | 9,781 |  |  | $ | 8,282 |  |  | $ | 16,643 |  |  | $ | 65,097 |  |  | $ | 14,010,883 |  |  | $ | 14,075,980 |  |  | $ | 1,862 |
Non-Accrual Loans and Leases The following presents the non-accrual loans and leases as of September 30, 2025 and December 31, 2024.
| September 30, 2025 |  | December 31, 2024
(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 Mortgage | $ | — |  | $ | 2,498 |  | $ | 2,498 |  |  | $ | — |  | $ | 2,450 |  | $ | 2,450 |
Commercial and Industrial | 2,399 |  | 1,107 |  | 3,506 |  |  | 3,695 |  | 932 |  | 4,627 |
Total Commercial | 2,399 |  | 3,605 |  | 6,004 |  |  | 3,695 |  | 3,382 |  | 7,077 |
Consumer |  |  |  |  |  |  |
Residential Mortgage | 5,187 |  | 441 |  | 5,628 |  |  | 5,052 |  | — |  | 5,052 |
Home Equity | 5,107 |  | — |  | 5,107 |  |  | 4,514 |  | — |  | 4,514 |
Total Consumer | 10,294 |  | 441 |  | 10,735 |  |  | 9,566 |  | — |  | 9,566 |
Total | $ | 12,693 |  | $ | 4,046 |  | $ | 16,739 |  |  | $ | 13,261 |  | $ | 3,382 |  | $ | 16,643 |
Payments received while on non-accrual status are normally applied against the principal balance of the loan or lease. Payments may be recognized as income if the full collection of principal and interest is reasonably assured. Loan Modifications to Borrowers Experiencing Financial Difficulty Modifications to borrowers experiencing financial difficulty may include interest rate reductions, principal or interest forgiveness, forbearances, term extensions, and other actions intended to minimize economic loss and to avoid foreclosure or repossession of collateral. The following illustrates the most common loan modifications by loan classes offered by the Company:
Loan Classes | Modification Types
Commercial: | Term extension, interest rate reductions, other-than-insignificant payment delay, or combination thereof. These modifications extend the term of the loan, lower the payment amount, or result in an other-than-insignificant payment delay during a defined period for the purpose of providing borrowers additional time to return to compliance with the original loan term.
Residential Mortgage/ Home Equity: | Forbearance period greater than six months. These modifications require reduced or no payments during the forbearance period for the purpose of providing borrowers additional time to return to compliance with the original loan term.
Residential Mortgage/ Home Equity: | Term extension and rate adjustment. These modifications extend the term of the loan and provide for an adjustment to the interest rate, which reduces the monthly payment requirement.
Automobile/ Direct Installment: | Term extension greater than three months. These modifications extend the term of the loan, which reduces the monthly payment requirement.
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, 2025 and 2024.
(dollars in thousands) | Term Extension |  | Payment Delay and Term Extension 1 | Term Extension and Interest Rate Reduction | Rate Reduction, Payment Delay, and Term Extension | Payment Delay | Total | % of Total Class of Loans and Leases
Three Months Ended September 30, 2025 |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |
Commercial and Industrial | $ | 136 |  |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 136 |  | 0.01 | %
Total Commercial | 136 |  |  | — |  | — |  | — |  | — |  | 136 |  | 0.00 |
Consumer |  |  |  |  |  |  |  |
Residential Mortgage | 501 |  |  | — |  | — |  | — |  | — |  | 501 |  | 0.01 |
Automobile | 3,317 |  |  | — |  | — |  | — |  | — |  | 3,317 |  | 0.47 |
Other | 613 |  |  | — |  | — |  | — |  | — |  | 613 |  | 0.15 |
Total Consumer | 4,431 |  |  | — |  | — |  | — |  | — |  | 4,431 |  | 0.06 |
Total Loans and Leases | $ | 4,567 |  |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 4,567 |  | 0.03 | %
Nine Months Ended September 30, 2025 |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |
Commercial Mortgage | $ | — |  |  | $ | — |  | $ | — |  | $ | 2,085 |  | $ | — |  | $ | 2,085 |  | 0.05 | %
Commercial and Industrial | 215 |  |  | — |  | — |  | — |  | — |  | 215 |  | 0.01 |
Total Commercial | 215 |  |  | — |  | — |  | 2,085 |  | — |  | 2,300 |  | 0.04 |
Consumer |  |  |  |  |  |  |  |
Residential Mortgage | 954 |  |  | — |  | 71 |  | — |  | — |  | 1,025 |  | 0.02 |
Home Equity | — |  |  | — |  | 169 |  | — |  | — |  | 169 |  | 0.01 |
Automobile | 9,869 |  |  | — |  | — |  | — |  | — |  | 9,869 |  | 1.41 |
Other | 1,496 |  |  | — |  | — |  | — |  | — |  | 1,496 |  | 0.36 |
Total Consumer | 12,319 |  |  | — |  | 240 |  | — |  | — |  | 12,559 |  | 0.16 |
Total Loans and Leases | $ | 12,534 |  |  | $ | — |  | $ | 240 |  | $ | 2,085 |  | $ | — |  | $ | 14,859 |  | 0.11 | %
Three Months Ended September 30, 2024 |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |
Commercial and Industrial | $ | 11 |  |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 11 |  | 0.00 | %
Total Commercial | 11 |  |  | — |  | — |  | — |  | — |  | 11 |  | 0.00 |
Consumer |  |  |  |  |  |  |  |
Automobile | 3,862 |  |  | — |  | — |  | — |  | — |  | 3,862 |  | 0.49 |
Other | 635 |  |  | — |  | — |  | — |  | — |  | 635 |  | 0.17 |
Total Consumer | 4,497 |  |  | — |  | — |  | — |  | — |  | 4,497 |  | 0.06 |
Total Loans and Leases | $ | 4,508 |  |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 4,508 |  | 0.03 | %
Nine Months Ended September 30, 2024 |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |
Commercial and Industrial | $ | 35 |  |  | $ | 4,432 |  | $ | — |  | $ | — |  | $ | — |  | $ | 4,467 |  | 0.27 | %
Total Commercial | 35 |  |  | 4,432 |  | — |  | — |  | — |  | 4,467 |  | 0.08 |
Consumer |  |  |  |  |  |  |  |
Residential Mortgage | — |  |  | — |  | — |  | — |  | 14,718 |  | 14,718 |  | 0.32 |
Home Equity | — |  |  | — |  | — |  | — |  | 1,116 |  | 1,116 |  | 0.05 |
Automobile | 12,184 |  |  | 917 |  | — |  | — |  | — |  | 13,101 |  | 1.66 |
Other | 1,498 |  |  | 95 |  | — |  | — |  | — |  | 1,593 |  | 0.42 |
Total Consumer | 13,682 |  |  | 1,012 |  | — |  | — |  | 15,834 |  | 30,528 |  | 0.38 |
Total Loans and Leases | $ | 13,717 |  |  | $ | 5,444 |  | $ | — |  | $ | — |  | $ | 15,834 |  | $ | 34,995 |  | 0.25 | %
1.Includes forbearance plans. 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, 2025 and 2024.
(dollars in thousands) | Weighted-Average Months of Term Extension | Weighted-Average Payment Deferral 1 | Weighted-Average Interest Rate Reduction
Three Months Ended September 30, 2025 |  |  |
Commercial |  |  |
Commercial and Industrial | 95 | $ | — |  | — | %
Consumer |  |  |
Residential Mortgage | 62 | — |  | — |
Automobile | 22 | — |  | — |
Other | 23 | — |  | — |
Nine Months Ended September 30, 2025 |  |  |
Commercial |  |  |
Commercial Mortgage | 24 | $ | 140 |  | 1.88 | %
Commercial and Industrial | 61 | — |  | — |
Consumer |  |  |
Residential Mortgage | 72 | — |  | 0.37 |
Home Equity | 24 | — |  | 0.88 |
Automobile | 22 | — |  | — |
Other | 22 | — |  | — |
Three Months Ended September 30, 2024 |  |  |
Commercial |  |  |
Commercial and Industrial | 22 | $ | — |  | — | %
Consumer |  |  |
Automobile | 22 | — |  | — |
Other | 22 | — |  | — |
Nine Months Ended September 30, 2024 |  |  |
Commercial |  |  |
Commercial and Industrial | 12 | $ | 593 |  | — | %
Consumer |  |  |
Residential Mortgage | 0 | 13 |  | — |
Home Equity | 0 | 7 |  | — |
Automobile | 22 | 2 |  | — |
Other | 21 | 1 |  | — |
1 Includes forbearance plans. The following table presents the loan modifications made to borrowers experiencing financial difficulty that defaulted during the three and nine months ended September 30, 2025 and 2024.
(dollars in thousands) | Term Extension | Payment Delay & Term Extension 1 | Term Extension and Interest Rate Reduction | Rate Reduction, Payment Delay, and Term Extension | Total
Three Months Ended September 30, 2025 |  |  |  |  |
Commercial |  |  |  |  |
Commercial Mortgage | $ | — |  | $ | — |  | $ | — |  | $ | 2,085 |  | $ | 2,085 |
Total Commercial | — |  | — |  | — |  | 2,085 |  | 2,085 |
Consumer |  |  |  |  |
Residential Mortgage | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Automobile | 431 |  | — |  | — |  | — |  | 431 |
Other | 132 |  | — |  | — |  | — |  | 132 |
Total Consumer | 563 |  | — |  | — |  | — |  | 563 |
Total Loans and Leases | $ | 563 |  | $ | — |  | $ | — |  | $ | 2,085 |  | $ | 2,648 |
Nine Months Ended September 30, 2025 |  |  |  |  |
Commercial |  |  |  |  |
Commercial Mortgage | $ | — |  | $ | — |  | $ | — |  | $ | 2,085 |  | $ | 2,085 |
Total Commercial | — |  | — |  | — |  | 2,085 |  | 2,085 |
Consumer |  |  |  |  |
Residential Mortgage | $ | — |  | $ | — |  | $ | 71 |  | $ | — |  | $ | 71 |
Automobile | 699 |  | — |  | — |  | — |  | 699 |
Other | 151 |  | — |  | — |  | — |  | 151 |
Total Consumer | 850 |  | — |  | 71 |  | — |  | 921 |
Total Loans and Leases | $ | 850 |  | $ | — |  | $ | 71 |  | $ | 2,085 |  | $ | 3,006 |
Three Months Ended September 30, 2024 |  |  |  |  |
Consumer |  |  |  |  |
Automobile | $ | 536 |  | $ | 112 |  | $ | — |  | $ | — |  | $ | 648 |
Other | 209 |  | 1 |  | — |  | — |  | 210 |
Total Consumer | 745 |  | 113 |  | — |  | — |  | 858 |
Total Loans and Leases | $ | 745 |  | $ | 113 |  | $ | — |  | $ | — |  | $ | 858 |
Nine Months Ended September 30, 2024 |  |  |  |  |
Commercial |  |  |  |  |
Commercial and Industrial | $ | — |  | $ | 32 |  | $ | — |  | $ | — |  | $ | 32 |
Total Commercial | — |  | 32 |  | — |  | — |  | 32 |
Consumer |  |  |  |  |
Automobile | 704 |  | 119 |  | — |  | — |  | 823 |
Other | 217 |  | 1 |  | — |  | — |  | 218 |
Total Consumer | 921 |  | 120 |  | — |  | — |  | 1,041 |
Total Loans and Leases | $ | 921 |  | $ | 152 |  | $ | — |  | $ | — |  | $ | 1,073 |
1.Includes forbearance plans. The following table presents the aging analysis of loans that have been modified in the last 12 months made to borrowers experiencing financial difficulty as of September 30, 2025 and 2024.
(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, 2025 |  |  |  |  |  |
Commercial |  |  |  |  |  |
Commercial Mortgage | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 2,085 |  | $ | 2,085 |
Commercial and Industrial | 215 |  | 25 |  | — |  | — |  | — |  | 240 |
Total Commercial | 215 |  | 25 |  | — |  | — |  | 2,085 |  | 2,325 |
Consumer |  |  |  |  |  |
Residential Mortgage | 572 |  | — |  | — |  | — |  | 453 |  | 1,025 |
Home Equity | 1,063 |  | — |  | — |  | — |  | — |  | 1,063 |
Automobile | 10,119 |  | 1,880 |  | 209 |  | 93 |  | — |  | 12,301 |
Other | 1,588 |  | 124 |  | 88 |  | 41 |  | — |  | 1,841 |
Total Consumer | 13,342 |  | 2,004 |  | 297 |  | 134 |  | 453 |  | 16,230 |
Total Loans and Leases | $ | 13,557 |  | $ | 2,029 |  | $ | 297 |  | $ | 134 |  | $ | 2,538 |  | $ | 18,555 |
As of September 30, 2024 |  |  |  |  |  |
Commercial |  |  |  |  |  |
Commercial and Industrial | $ | 4,467 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 4,467 |
Total Commercial | 4,467 |  | — |  | — |  | — |  | — |  | 4,467 |
Consumer |  |  |  |  |  |
Residential Mortgage | 14,718 |  | — |  | — |  | — |  | — |  | 14,718 |
Home Equity | 1,055 |  | — |  | — |  | — |  | 61 |  | 1,116 |
Automobile | 10,977 |  | 1,783 |  | 225 |  | 116 |  | — |  | 13,101 |
Other | 1,326 |  | 115 |  | 75 |  | 77 |  | — |  | 1,593 |
Total Consumer | 28,076 |  | 1,898 |  | 300 |  | 193 |  | 61 |  | 30,528 |
Total Loans and Leases | $ | 32,543 |  | $ | 1,898 |  | $ | 300 |  | $ | 193 |  | $ | 61 |  | $ | 34,995 |
Foreclosure Proceedings Consumer mortgage loans collateralized by residential real estate property (residential mortgage and home equity) that are in the process of foreclosure totaled $10.6 million and $9.6 million as of September 30, 2025 and December 31, 2024, respectively.

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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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