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Allowance for Credit Losses and Credit Quality of Loans (Tables)

9 Months Ended

Sep. 30, 2022

Allowance for Credit Losses and Credit Quality of Loans [Abstract]

The following tables present the activity in the allowance for credit losses by portfolio segment:

(In thousands)	Commercial Loans			Consumer Loans			Residential			Total
Balance as of June 30, 2022	$	32,358		$	44,940		$	16,302		$	93,600
Charge-offs		(624	)		(3,951	)		(118	)		(4,693	)
Recoveries		1,282			1,924			203			3,409
Provision		(60	)		5,397			(853	)		4,484
Ending balance as of September 30, 2022	$	32,956		$	48,310		$	15,534		$	96,800

Balance as of June 30, 2021	$	44,191		$	34,881		$	19,428		$	98,500
Charge-offs		(1,492	)		(3,083	)		(312	)		(4,887	)
Recoveries		354			2,143			232			2,729
Provision		(9,875	)		7,130			(597	)		(3,342	)
Ending balance as of September 30, 2021	$	33,178		$	41,071		$	18,751		$	93,000

(In thousands)	Commercial Loans			Consumer Loans			Residential			Total
Balance as of December 31, 2021	$	28,941		$	44,253		$	18,806		$	92,000
Charge-offs		(1,659	)		(11,051	)		(520	)		(13,230	)
Recoveries		2,212			5,693			655			8,560
Provision		3,462			9,415			(3,407	)		9,470
Ending balance as of September 30, 2022	$	32,956		$	48,310		$	15,534		$	96,800

Balance as of December 31, 2020	$	50,942		$	37,803		$	21,255		$	110,000
Charge-offs		(2,123	)		(10,702	)		(731	)		(13,556	)
Recoveries		533			6,506			871			7,910
Provision		(16,174	)		7,464			(2,644	)		(11,354	)
Ending balance as of September 30, 2021	$	33,178		$	41,071		$	18,751		$	93,000

Past due and Nonperforming Loans by Loan Class

The following table sets forth information with regard to past due and nonperforming loans by loan segment:

(In thousands)	31-60 Days Past Due Accruing		61-90 Days Past Due Accruing		Greater Than 90 Days Past Due Accruing		Total Past Due Accruing		Nonaccrual		Current		Recorded Total Loans
As of September 30, 2022
Commercial loans:
C&I	$	356	$	272	$	-	$	628	$	3,951	$	1,232,057	$	1,236,636
CRE		-		-		-		-		5,839		2,604,852		2,610,691
PPP		60		-		-		60		-		3,268		3,328
Total commercial loans	$	416	$	272	$	-	$	688	$	9,790	$	3,840,177	$	3,850,655
Consumer loans:
Auto	$	7,969	$	1,047	$	462	$	9,478	$	1,399	$	913,068	$	923,945
Other consumer		5,234		2,104		1,086		8,424		357		1,031,095		1,039,876
Total consumer loans	$	13,203	$	3,151	$	1,548	$	17,902	$	1,756	$	1,944,163	$	1,963,821
Residential	$	3,182	$	390	$	1,184	$	4,756	$	7,552	$	2,078,000	$	2,090,308
Total loans	$	16,801	$	3,813	$	2,732	$	23,346	$	19,098	$	7,862,340	$	7,904,784

(In thousands)	31-60 Days Past Due Accruing		61-90 Days Past Due Accruing		Greater Than 90 Days Past Due Accruing		Total Past Due Accruing		Nonaccrual		Current		Recorded Total Loans
As of December 31, 2021
Commercial loans:
C&I	$	622	$	-	$	-	$	622	$	3,618	$	1,126,430	$	1,130,670
CRE		1,219		132		-		1,351		12,726		2,550,910		2,564,987
PPP		-		-		-		-		-		101,222		101,222
Total commercial loans	$	1,841	$	132	$	-	$	1,973	$	16,344	$	3,778,562	$	3,796,879
Consumer loans:
Auto	$	6,911	$	1,547	$	545	$	9,003	$	1,295	$	816,210	$	826,508
Other consumer		3,789		1,816		1,105		6,710		233		832,447		839,390
Total consumer loans	$	10,700	$	3,363	$	1,650	$	15,713	$	1,528	$	1,648,657	$	1,665,898
Residential	$	2,481	$	420	$	808	$	3,709	$	12,413	$	2,019,560	$	2,035,682
Total loans	$	15,022	$	3,915	$	2,458	$	21,395	$	30,285	$	7,446,779	$	7,498,459

Credit Quality by Loan Class by Year of Origination (Vintage)

The following tables illustrate the Company’s credit quality by loan class by year of origination (vintage):

(In thousands)	2022		2021		2020		2019		2018		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
As of September 30, 2022
C&I
By internally assigned grade:
Pass	$	245,005	$	266,027	$	184,084	$	97,714	$	43,160	$	34,942	$	332,028	$	3,795	$	1,206,755
Special mention		832		591		194		172		1,575		1,340		2,285		-		6,989
Substandard		-		1,661		490		3,725		116		3,550		11,991		1,353		22,886
Doubtful		-		-		-		-		-		6		-		-		6
Total C&I	$	245,837	$	268,279	$	184,768	$	101,611	$	44,851	$	39,838	$	346,304	$	5,148	$	1,236,636

CRE
By internally assigned grade:
Pass	$	280,862	$	471,072	$	443,924	$	332,477	$	224,344	$	600,377	$	142,329	$	36,163	$	2,531,548
Special mention		609		771		35		2,663		4,686		26,099		850		-		35,713
Substandard		-		-		59		4,068		2,049		31,701		5,553		-		43,430
Total CRE	$	281,471	$	471,843	$	444,018	$	339,208	$	231,079	$	658,177	$	148,732	$	36,163	$	2,610,691

PPP
By internally assigned grade:
Pass	$	-	$	3,328	$	-	$	-	$	-	$	-	$	-	$	-	$	3,328
Total PPP	$	-	$	3,328	$	-	$	-	$	-	$	-	$	-	$	-	$	3,328

Auto
By payment activity:
Performing	$	383,328	$	262,078	$	85,865	$	115,909	$	55,123	$	19,781	$	-	$	-	$	922,084
Nonperforming		273		519		389		418		237		25		-		-		1,861
Total auto	$	383,601	$	262,597	$	86,254	$	116,327	$	55,360	$	19,806	$	-	$	-	$	923,945

Other consumer
By payment activity:
Performing	$	400,118	$	325,016	$	118,278	$	88,449	$	56,685	$	30,060	$	19,820	$	7	$	1,038,433
Nonperforming		182		649		199		125		39		211		13		25		1,443
Total other consumer	$	400,300	$	325,665	$	118,477	$	88,574	$	56,724	$	30,271	$	19,833	$	32	$	1,039,876

Residential
By payment activity:
Performing	$	200,520	$	347,085	$	215,272	$	161,759	$	162,244	$	742,940	$	240,655	$	11,097	$	2,081,572
Nonperforming		109		833		644		268		847		5,894		21		120		8,736
Total residential	$	200,629	$	347,918	$	215,916	$	162,027	$	163,091	$	748,834	$	240,676	$	11,217	$	2,090,308

Total loans	$	1,511,838	$	1,679,630	$	1,049,433	$	807,747	$	551,105	$	1,496,926	$	755,545	$	52,560	$	7,904,784

(In thousands)	2021		2020		2019		2018		2017		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
As of December 31, 2021
C&I
By internally assigned grade:
Pass	$	335,685	$	219,931	$	114,617	$	64,310	$	20,137	$	32,146	$	280,476	$	15,731	$	1,083,033
Special mention		148		5,255		4,641		2,430		2,699		1,111		11,835		522		28,641
Substandard		1,482		874		7,010		187		2,582		3,272		3,512		34		18,953
Doubtful		-		-		-		1		42		-		-		-		43
Total C&I	$	337,315	$	226,060	$	126,268	$	66,928	$	25,460	$	36,529	$	295,823	$	16,287	$	1,130,670

CRE
By internally assigned grade:
Pass	$	489,300	$	434,866	$	370,377	$	236,274	$	251,082	$	441,310	$	141,367	$	43,942	$	2,408,518
Special mention		789		826		11,235		3,544		15,379		53,372		780		420		86,345
Substandard		-		77		4,539		12,934		12,424		34,563		744		-		65,281
Doubtful		-		-		-		-		-		4,843		-		-		4,843
Total CRE	$	490,089	$	435,769	$	386,151	$	252,752	$	278,885	$	534,088	$	142,891	$	44,362	$	2,564,987

PPP
By internally assigned grade:
Pass	$	92,884	$	8,338	$	-	$	-	$	-	$	-	$	-	$	-	$	101,222
Total PPP	$	92,884	$	8,338	$	-	$	-	$	-	$	-	$	-	$	-	$	101,222

Auto
By payment activity:
Performing	$	351,778	$	129,419	$	183,959	$	101,441	$	46,007	$	12,064	$	-	$	-	$	824,668
Nonperforming		305		319		457		411		266		82		-		-		1,840
Total auto	$	352,083	$	129,738	$	184,416	$	101,852	$	46,273	$	12,146	$	-	$	-	$	826,508

Other consumer
By payment activity:
Performing	$	427,401	$	151,300	$	116,451	$	78,523	$	29,705	$	15,660	$	19,011	$	1	$	838,052
Nonperforming		216		429		249		134		238		33		18		21		1,338
Total other consumer	$	427,617	$	151,729	$	116,700	$	78,657	$	29,943	$	15,693	$	19,029	$	22	$	839,390

Residential
By payment activity:
Performing	$	345,338	$	226,723	$	179,087	$	179,575	$	146,611	$	687,863	$	246,103	$	11,161	$	2,022,461
Nonperforming		-		1,411		643		1,072		1,534		8,522		-		39		13,221
Total residential	$	345,338	$	228,134	$	179,730	$	180,647	$	148,145	$	696,385	$	246,103	$	11,200	$	2,035,682

Total loans	$	2,045,326	$	1,179,768	$	993,265	$	680,836	$	528,706	$	1,294,841	$	703,846	$	71,871	$	7,498,459

Troubled Debt Restructurings on Financing Receivables

The following tables illustrate the recorded investment and number of modifications designated as TDRs, including the recorded investment in the loans prior to a modification and the recorded investment in the loans after restructuring:

	Three Months Ended September 30, 2022						Three Months Ended September 30, 2021
(Dollars in thousands)	Number of Contracts		Pre- Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment		Number of Contracts		Pre- Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment
Consumer loans:
Auto		-	$	-	$	-		1	$	20	$	20
Total consumer loans		-	$	-	$	-		1	$	20	$	20
Residential		6	$	613	$	682		3	$	460	$	507
Total TDRs		6	$	613	$	682		4	$	480	$	527

	Nine Months Ended September 30, 2022						Nine Months Ended September 30, 2021
(Dollars in thousands)	Number of Contracts		Pre- Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment		Number of Contracts		Pre- Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment
Consumer loans:
Auto		-	$	-	$	-		2	$	38	$	38
Total consumer loans		-	$	-	$	-		2	$	38	$	38
Residential		10	$	829	$	928		9	$	1,071	$	1,183
Total TDRs		10	$	829	$	928		11	$	1,109	$	1,221

The following table illustrates the recorded investment and number of modifications for TDRs where a concession has been made and subsequently defaulted during the period:

	Three Months Ended September 30, 2022				Three Months Ended September 30, 2021
(Dollars in thousands)	Number of Contracts		Recorded Investment		Number of Contracts		Recorded Investment
Commercial loans:
C&I		1	$	320		-	$	-
Total commercial loans		1	$	320		-	$	-
Residential		18	$	869		19	$	1,401
Total TDRs		19	$	1,189		19	$	1,401

	Nine Months Ended September 30, 2022				Nine Months Ended September 30, 2021
(Dollars in thousands)	Number of Contracts		Recorded Investment		Number of Contracts		Recorded Investment
Commercial loans:
C&I		1	$	320		-	$	-
Total commercial loans		1	$	320		-	$	-
Consumer loans:
Auto		1	$	11		2	$	18
Total consumer loans		1	$	11		2	$	18
Residential		44	$	2,320		39	$	2,356
Total TDRs		46	$	2,651		41	$	2,374