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Allowance for Credit Losses on Off-Balance Sheet Credit Exposures | 6 Months Ended
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Jun. 30, 2024
Credit Loss [Abstract] |
Allowance for Credit Losses on Off-Balance Sheet Credit Exposures | Allowance for Credit Losses on Off-Balance Sheet Credit Exposures Management analyzes the Company's exposure to credit losses for both on-balance sheet and off-balance sheet activity using a consistent methodology for the quantitative framework as well as the qualitative framework. For purposes of estimating the allowance for credit losses for off-balance sheet credit exposures, the exposure that may default includes an estimated drawdown of unused credit based on historical credit utilization factors and current loss factors. For the three and six months ended June 30, 2024, the Company recorded a $3.7 million and a $3.1 million provision charge for credit losses for off-balance sheet credit exposures, respectively. For the three and six months ended June 30, 2023, the Company recorded a $647,000 provision benefit for credit losses for off-balance sheet credit exposures and a $92,000 provision charge for credit losses for off-balance sheet credit exposures, respectively. The $4.3 million increase and the $3.1 million increase in the provision for the three and six months ended June 30, 2024, compared to the same period in 2023, primarily related to the establishment of an allowance for credit losses on commitments to extend credit acquired from Lakeland. The allowance for credit losses for off-balance sheet credit exposures was $6.6 million as of June 30, 2024 and $3.4 million as of December 31, 2023, and are included in other liabilities on the Consolidated Statements of Financial Condition.

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- Definition The entire disclosure for allowance for credit losses. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 310 -Publisher FASB -URI https://asc.fasb.org/310/tableOfContent + Details
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- References No definition available. + Details
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