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Allowance for Credit Losses on Off-Balance Sheet Credit Exposures
12 Months Ended
Dec. 31, 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 at default includes an estimated drawdown of unused credit based on historical credit utilization factors and current loss factors, resulting in a proportionate amount of expected credit losses.
For the years ended December 31, 2024, 2023 and 2022, the Company recorded a $4.0 million provision, a $264,000 provision and a $3.4 million negative provision for credit losses for off-balance sheet credit exposures, respectively.
The allowance for credit losses for off-balance sheet credit exposures was $7.4 million and $3.4 million as of December 31, 2024 and 2023, respectively, and are included in Other liabilities on the Consolidated Statements of Financial Condition.