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Loans and Allowance for Credit Losses (Tables) | 12 Months Ended
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Dec. 31, 2022
Receivables [Abstract] |
Schedule of Composition of Loan Portfolio by Loan Class | The following table illustrates the composition of the Corporation’s loan portfolio by loan class for the periods indicated:
| December 31, 2022 |  | December 31, 2021
Commercial and industrial loans | $ | 3,437,126 |  |  | $ | 2,714,565 |
Agricultural land, production and other loans to farmers | 241,793 |  |  | 246,442 |
Real estate loans: |  |  |
Construction | 835,582 |  |  | 523,066 |
Commercial real estate, non-owner occupied | 2,407,475 |  |  | 2,135,459 |
Commercial real estate, owner occupied | 1,246,528 |  |  | 986,720 |
Residential | 2,096,655 |  |  | 1,159,127 |
Home equity | 630,632 |  |  | 523,754 |
Individuals' loans for household and other personal expenditures | 175,211 |  |  | 146,092 |
Public finance and other commercial loans | 932,892 |  |  | 806,636 |
Loans | $ | 12,003,894 |  |  | $ | 9,241,861 |
Schedule of Credit Quality of Loan Portfolio by Loan Class | The following tables summarize the risk grading of the Corporation’s loan portfolio by loan class and by year of origination for the years indicated. Consumer loans are not risk graded. For the purposes of this disclosure, the consumer loans are classified in the following manner: loans that are less than 30 days past due are Pass, loans 30-89 days past due are Special Mention and loans greater than 89 days past due are Substandard. The entire balance of a loan is considered delinquent if the minimum payment contractually required to be made is not received by the specified due date. Loans that evidenced deterioration of credit quality since origination and it was probable, at acquisition, that all contractually required payments would not be collected are included in the applicable categories below. Commercial and industrial loan balances as of December 31, 2022 include PPP loans with an origination year of 2021 and 2020 of $4.6 million and $102,000, respectively. Commercial and industrial loan balances as of December 31, 2021 include PPP loans with an origination year of 2021 and 2020 of $100.3 million and $6.3 million, respectively.
December 31, 2022
| Term Loans (amortized cost basis by origination year) |  |  |  |  |  |
| 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | Prior |  | Revolving loans amortized cost basis |  | Revolving loans converted to term |  | Total
Commercial and industrial loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 1,064,687 |  |  | $ | 531,504 |  |  | $ | 141,985 |  |  | $ | 114,999 |  |  | $ | 43,136 |  |  | $ | 45,310 |  |  | $ | 1,302,562 |  |  | $ | 5,048 |  |  | $ | 3,249,231 |
Special Mention | 2,164 |  |  | 18,005 |  |  | 11,900 |  |  | 5,727 |  |  | 1,012 |  |  | 2,181 |  |  | 27,702 |  |  | 150 |  |  | 68,841 |
Substandard | 27,512 |  |  | 26,571 |  |  | 5,531 |  |  | 10,606 |  |  | 4,674 |  |  | 567 |  |  | 43,450 |  |  | 143 |  |  | 119,054 |
Total Commercial and industrial loans | 1,094,363 |  |  | 576,080 |  |  | 159,416 |  |  | 131,332 |  |  | 48,822 |  |  | 48,058 |  |  | 1,373,714 |  |  | 5,341 |  |  | 3,437,126 |
Agricultural land, production and other loans to farmers |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 44,446 |  |  | 36,299 |  |  | 35,791 |  |  | 15,296 |  |  | 3,752 |  |  | 28,910 |  |  | 73,402 |  |  | — |  |  | 237,896 |
Special Mention | 286 |  |  | 784 |  |  | — |  |  | — |  |  | 281 |  |  | 632 |  |  | — |  |  | — |  |  | 1,983 |
Substandard | 178 |  |  | — |  |  | 490 |  |  | — |  |  | 94 |  |  | 1,152 |  |  | — |  |  | — |  |  | 1,914 |
Total Agricultural land, production and other loans to farmers | 44,910 |  |  | 37,083 |  |  | 36,281 |  |  | 15,296 |  |  | 4,127 |  |  | 30,694 |  |  | 73,402 |  |  | — |  |  | 241,793 |
Real estate loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 366,414 |  |  | 301,986 |  |  | 117,541 |  |  | 11,428 |  |  | 857 |  |  | 3,224 |  |  | 17,167 |  |  | — |  |  | 818,617 |
Special Mention | 16,922 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 16,922 |
Substandard | 31 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 12 |  |  | — |  |  | — |  |  | 43 |
Total Construction | 383,367 |  |  | 301,986 |  |  | 117,541 |  |  | 11,428 |  |  | 857 |  |  | 3,236 |  |  | 17,167 |  |  | — |  |  | 835,582 |
Commercial real estate, non-owner occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 560,146 |  |  | 603,254 |  |  | 550,605 |  |  | 168,701 |  |  | 116,859 |  |  | 190,264 |  |  | 31,196 |  |  | 3,803 |  |  | 2,224,828 |
Special Mention | 49,439 |  |  | 4,026 |  |  | 38,268 |  |  | 18,785 |  |  | 11,546 |  |  | 17,992 |  |  | — |  |  | — |  |  | 140,056 |
Substandard | 21,123 |  |  | 8,128 |  |  | 8,026 |  |  | — |  |  | 4,442 |  |  | 872 |  |  | — |  |  | — |  |  | 42,591 |
Total Commercial real estate, non-owner occupied | 630,708 |  |  | 615,408 |  |  | 596,899 |  |  | 187,486 |  |  | 132,847 |  |  | 209,128 |  |  | 31,196 |  |  | 3,803 |  |  | 2,407,475 |
Commercial real estate, owner occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 260,725 |  |  | 316,665 |  |  | 330,441 |  |  | 114,015 |  |  | 63,816 |  |  | 81,286 |  |  | 33,123 |  |  | 3,378 |  |  | 1,203,449 |
Special Mention | 7,744 |  |  | 6,125 |  |  | 2,245 |  |  | 3,481 |  |  | 1,210 |  |  | 2,984 |  |  | 1,328 |  |  | — |  |  | 25,117 |
Substandard | 3,124 |  |  | 1,214 |  |  | 2,376 |  |  | 1,608 |  |  | 2,920 |  |  | 6,720 |  |  | — |  |  | — |  |  | 17,962 |
Total Commercial real estate, owner occupied | 271,593 |  |  | 324,004 |  |  | 335,062 |  |  | 119,104 |  |  | 67,946 |  |  | 90,990 |  |  | 34,451 |  |  | 3,378 |  |  | 1,246,528 |
Residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 758,161 |  |  | 489,301 |  |  | 401,353 |  |  | 114,420 |  |  | 77,768 |  |  | 229,812 |  |  | 5,365 |  |  | 46 |  |  | 2,076,226 |
Special Mention | 2,839 |  |  | 2,924 |  |  | 1,972 |  |  | 513 |  |  | 396 |  |  | 2,588 |  |  | 34 |  |  | — |  |  | 11,266 |
Substandard | 1,399 |  |  | 1,824 |  |  | 1,811 |  |  | 805 |  |  | 1,468 |  |  | 1,741 |  |  | 60 |  |  | 55 |  |  | 9,163 |
Total Residential | 762,399 |  |  | 494,049 |  |  | 405,136 |  |  | 115,738 |  |  | 79,632 |  |  | 234,141 |  |  | 5,459 |  |  | 101 |  |  | 2,096,655 |
Home equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 40,768 |  |  | 75,670 |  |  | 14,621 |  |  | 1,572 |  |  | 1,348 |  |  | 3,325 |  |  | 486,924 |  |  | 281 |  |  | 624,509 |
Special Mention | — |  |  | — |  |  | — |  |  | — |  |  | 115 |  |  | 8 |  |  | 3,698 |  |  | — |  |  | 3,821 |
Substandard | — |  |  | 79 |  |  | — |  |  | — |  |  | 65 |  |  | 60 |  |  | 2,098 |  |  | — |  |  | 2,302 |
Total Home Equity | 40,768 |  |  | 75,749 |  |  | 14,621 |  |  | 1,572 |  |  | 1,528 |  |  | 3,393 |  |  | 492,720 |  |  | 281 |  |  | 630,632 |
Individuals' loans for household and other personal expenditures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 67,883 |  |  | 43,639 |  |  | 13,025 |  |  | 5,389 |  |  | 5,830 |  |  | 3,775 |  |  | 35,091 |  |  | — |  |  | 174,632 |
Special Mention | 178 |  |  | 134 |  |  | 77 |  |  | 33 |  |  | 28 |  |  | 17 |  |  | 16 |  |  | — |  |  | 483 |
Substandard | 1 |  |  | — |  |  | 3 |  |  | — |  |  | 84 |  |  | 8 |  |  | — |  |  | — |  |  | 96 |
Total Individuals' loans for household and other personal expenditures | 68,062 |  |  | 43,773 |  |  | 13,105 |  |  | 5,422 |  |  | 5,942 |  |  | 3,800 |  |  | 35,107 |  |  | — |  |  | 175,211 |
Public finance and other commercial loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 187,125 |  |  | 212,702 |  |  | 165,019 |  |  | 98,687 |  |  | 43,760 |  |  | 204,719 |  |  | 20,880 |  |  | — |  |  | 932,892 |
Total Public finance and other commercial loans | 187,125 |  |  | 212,702 |  |  | 165,019 |  |  | 98,687 |  |  | 43,760 |  |  | 204,719 |  |  | 20,880 |  |  | — |  |  | 932,892 |
Loans | $ | 3,483,295 |  |  | $ | 2,680,834 |  |  | $ | 1,843,080 |  |  | $ | 686,065 |  |  | $ | 385,461 |  |  | $ | 828,159 |  |  | $ | 2,084,096 |  |  | $ | 12,904 |  |  | $ | 12,003,894 |
December 31, 2021
| Term Loans (amortized cost basis by origination year) |  |  |  |  |  |
| 2021 |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | Prior |  | Revolving loans amortized cost basis |  | Revolving loans converted to term |  | Total
Commercial and industrial loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 1,019,757 |  |  | $ | 362,372 |  |  | $ | 144,520 |  |  | $ | 65,165 |  |  | $ | 21,575 |  |  | $ | 30,420 |  |  | $ | 990,335 |  |  | $ | — |  |  | $ | 2,634,144 |
Special Mention | 10,559 |  |  | 11,088 |  |  | 190 |  |  | 730 |  |  | 1,930 |  |  | 1,825 |  |  | 15,026 |  |  | — |  |  | 41,348 |
Substandard | 2,811 |  |  | 2,127 |  |  | 7,432 |  |  | 2,932 |  |  | 431 |  |  | 747 |  |  | 22,593 |  |  | — |  |  | 39,073 |
Total Commercial and industrial loans | 1,033,127 |  |  | 375,587 |  |  | 152,142 |  |  | 68,827 |  |  | 23,936 |  |  | 32,992 |  |  | 1,027,954 |  |  | — |  |  | 2,714,565 |
Agricultural land, production and other loans to farmers |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 50,251 |  |  | 45,164 |  |  | 22,195 |  |  | 7,689 |  |  | 6,153 |  |  | 36,074 |  |  | 74,871 |  |  | — |  |  | 242,397 |
Special Mention | — |  |  | 1,543 |  |  | — |  |  | — |  |  | — |  |  | 252 |  |  | 264 |  |  | — |  |  | 2,059 |
Substandard | 524 |  |  | 506 |  |  | 108 |  |  | 371 |  |  | — |  |  | 27 |  |  | 450 |  |  | — |  |  | 1,986 |
Total Agricultural land, production and other loans to farmers | 50,775 |  |  | 47,213 |  |  | 22,303 |  |  | 8,060 |  |  | 6,153 |  |  | 36,353 |  |  | 75,585 |  |  | — |  |  | 246,442 |
Real estate loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 215,167 |  |  | 200,169 |  |  | 63,589 |  |  | 979 |  |  | 1,762 |  |  | 2,453 |  |  | 17,201 |  |  | — |  |  | 501,320 |
Special Mention | 20,737 |  |  | 270 |  |  | — |  |  | — |  |  | — |  |  | 46 |  |  | — |  |  | — |  |  | 21,053 |
Substandard | — |  |  | 693 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 693 |
Total Construction | 235,904 |  |  | 201,132 |  |  | 63,589 |  |  | 979 |  |  | 1,762 |  |  | 2,499 |  |  | 17,201 |  |  | — |  |  | 523,066 |
Commercial real estate, non-owner occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 589,296 |  |  | 688,406 |  |  | 227,332 |  |  | 111,971 |  |  | 103,400 |  |  | 126,837 |  |  | 26,779 |  |  | — |  |  | 1,874,021 |
Special Mention | 68,279 |  |  | 149,480 |  |  | — |  |  | — |  |  | — |  |  | 1,723 |  |  | — |  |  | — |  |  | 219,482 |
Substandard | 19,314 |  |  | 14,912 |  |  | 178 |  |  | 1,118 |  |  | 6,156 |  |  | 278 |  |  | — |  |  | — |  |  | 41,956 |
Total Commercial real estate, non-owner occupied | 676,889 |  |  | 852,798 |  |  | 227,510 |  |  | 113,089 |  |  | 109,556 |  |  | 128,838 |  |  | 26,779 |  |  | — |  |  | 2,135,459 |
Commercial real estate, owner occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 299,186 |  |  | 392,383 |  |  | 92,338 |  |  | 43,252 |  |  | 46,044 |  |  | 48,571 |  |  | 33,998 |  |  | — |  |  | 955,772 |
Special Mention | 5,665 |  |  | 5,953 |  |  | 738 |  |  | 1,532 |  |  | 902 |  |  | 1,301 |  |  | 149 |  |  | — |  |  | 16,240 |
Substandard | 7,025 |  |  | 5,763 |  |  | — |  |  | 53 |  |  | 113 |  |  | 1,754 |  |  | — |  |  | — |  |  | 14,708 |
Total Commercial real estate, owner occupied | 311,876 |  |  | 404,099 |  |  | 93,076 |  |  | 44,837 |  |  | 47,059 |  |  | 51,626 |  |  | 34,147 |  |  | — |  |  | 986,720 |
Residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 349,726 |  |  | 353,691 |  |  | 103,028 |  |  | 69,745 |  |  | 55,240 |  |  | 210,669 |  |  | 2,955 |  |  | 73 |  |  | 1,145,127 |
Special Mention | 1,034 |  |  | 1,394 |  |  | 1,456 |  |  | 306 |  |  | 172 |  |  | 2,106 |  |  | — |  |  | — |  |  | 6,468 |
Substandard | 1,004 |  |  | 1,575 |  |  | 335 |  |  | 1,248 |  |  | 108 |  |  | 3,257 |  |  | — |  |  | 5 |  |  | 7,532 |
Total Residential | 351,764 |  |  | 356,660 |  |  | 104,819 |  |  | 71,299 |  |  | 55,520 |  |  | 216,032 |  |  | 2,955 |  |  | 78 |  |  | 1,159,127 |
Home equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 63,845 |  |  | 17,556 |  |  | 1,977 |  |  | 2,127 |  |  | 1,250 |  |  | 3,432 |  |  | 427,437 |  |  | 194 |  |  | 517,818 |
Special Mention | — |  |  | 85 |  |  | 48 |  |  | — |  |  | — |  |  | 24 |  |  | 3,451 |  |  | — |  |  | 3,608 |
Substandard | 520 |  |  | — |  |  | — |  |  | 8 |  |  | 91 |  |  | 70 |  |  | 1,639 |  |  | — |  |  | 2,328 |
Total Home Equity | 64,365 |  |  | 17,641 |  |  | 2,025 |  |  | 2,135 |  |  | 1,341 |  |  | 3,526 |  |  | 432,527 |  |  | 194 |  |  | 523,754 |
Individuals' loans for household and other personal expenditures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 67,749 |  |  | 23,452 |  |  | 11,893 |  |  | 11,197 |  |  | 2,008 |  |  | 4,928 |  |  | 24,406 |  |  | — |  |  | 145,633 |
Special Mention | 79 |  |  | 85 |  |  | 50 |  |  | 33 |  |  | 20 |  |  | 58 |  |  | 134 |  |  | — |  |  | 459 |
Total Individuals' loans for household and other personal expenditures | 67,828 |  |  | 23,537 |  |  | 11,943 |  |  | 11,230 |  |  | 2,028 |  |  | 4,986 |  |  | 24,540 |  |  | — |  |  | 146,092 |
Public finance and other commercial loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 231,319 |  |  | 178,316 |  |  | 100,679 |  |  | 39,098 |  |  | 105,964 |  |  | 128,942 |  |  | 22,318 |  |  | — |  |  | 806,636 |
Total Public finance and other commercial loans | 231,319 |  |  | 178,316 |  |  | 100,679 |  |  | 39,098 |  |  | 105,964 |  |  | 128,942 |  |  | 22,318 |  |  | — |  |  | 806,636 |
Loans | $ | 3,023,847 |  |  | $ | 2,456,983 |  |  | $ | 778,086 |  |  | $ | 359,554 |  |  | $ | 353,319 |  |  | $ | 605,794 |  |  | $ | 1,664,006 |  |  | $ | 272 |  |  | $ | 9,241,861 |
The following tables present the amortized cost basis of collateral dependent loans by loan class and their respective collateral type, which are individually evaluated to determine expected credit losses, for December 31, 2022 and 2021. The increase in collateral dependent loans of $38.8 million between 2022 and 2021, which is mostly in the commercial and industrial loan class, is primarily related to loans from the acquisition of Level One.
| December 31, 2022
| Commercial Real Estate |  | Residential Real Estate |  | Other |  | Total |  | Allowance on Collateral Dependent Loans
Commercial and industrial loans | $ | — |  |  | $ | — |  |  | $ | 42,101 |  |  | $ | 42,101 |  |  | $ | 8,367 |
Real estate loans: |  |  |  |  |  |  |  |  |
Construction | — |  |  | 10 |  |  | — |  |  | 10 |  |  | 1 |
Commercial real estate, non-owner occupied | 26,534 |  |  | — |  |  | — |  |  | 26,534 |  |  | 2,064 |
Commercial real estate, owner occupied | 6,986 |  |  | — |  |  | — |  |  | 6,986 |  |  | 776 |
Residential | — |  |  | 2,382 |  |  | — |  |  | 2,382 |  |  | 260 |
Home equity | — |  |  | 289 |  |  | — |  |  | 289 |  |  | 44 |
Loans | $ | 33,520 |  |  | $ | 2,681 |  |  | $ | 42,101 |  |  | $ | 78,302 |  |  | $ | 11,512 |
| December 31, 2021
| Commercial Real Estate |  | Residential Real Estate |  | Other |  | Total |  | Allowance on Collateral Dependent Loans
Commercial and industrial loans | $ | — |  |  | $ | — |  |  | $ | 8,075 |  |  | $ | 8,075 |  |  | $ | 2,672 |
Agricultural land, production and other loans to farmers | 524 |  |  | — |  |  | 251 |  |  | 775 |  |  | — |
Real estate loans: |  |  |  |  |  |  |  |  |
Construction | — |  |  | 685 |  |  | — |  |  | 685 |  |  | 82 |
Commercial real estate, non-owner occupied | 23,652 |  |  | — |  |  | — |  |  | 23,652 |  |  | 5,510 |
Commercial real estate, owner occupied | 1,044 |  |  | — |  |  | — |  |  | 1,044 |  |  | — |
Residential | — |  |  | 4,906 |  |  | — |  |  | 4,906 |  |  | 305 |
Home equity | — |  |  | 394 |  |  | — |  |  | 394 |  |  | 64 |
Loans | $ | 25,220 |  |  | $ | 5,985 |  |  | $ | 8,326 |  |  | $ | 39,531 |  |  | $ | 8,633 |
Schedule of Past Due Aging of Loan Portfolio by Loan Class | The tables below show a past due aging of the Corporation’s loan portfolio, by loan class, for the years indicated:
| December 31, 2022
| Current |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90 Days or More Past Due |  | Total |  | Loans > 90 Days or More Past Due And Accruing
Commercial and industrial loans | $ | 3,429,314 |  |  | $ | 4,904 |  |  | $ | 434 |  |  | $ | 2,474 |  |  | $ | 3,437,126 |  |  | $ | 1,147 |
Agricultural land, production and other loans to farmers | 241,739 |  |  | — |  |  | — |  |  | 54 |  |  | 241,793 |  |  | — |
Real estate loans: |  |  |  |  |  |  |  |  |  |  |
Construction | 832,716 |  |  | 2,436 |  |  | 418 |  |  | 12 |  |  | 835,582 |  |  | — |
Commercial real estate, non-owner occupied | 2,395,495 |  |  | 5,946 |  |  | 881 |  |  | 5,153 |  |  | 2,407,475 |  |  | 264 |
Commercial real estate, owner occupied | 1,241,714 |  |  | 4,495 |  |  | — |  |  | 319 |  |  | 1,246,528 |  |  | — |
Residential | 2,079,959 |  |  | 8,607 |  |  | 2,278 |  |  | 5,811 |  |  | 2,096,655 |  |  | — |
Home equity | 624,543 |  |  | 2,206 |  |  | 1,782 |  |  | 2,101 |  |  | 630,632 |  |  | 326 |
Individuals' loans for household and other personal expenditures | 174,629 |  |  | 343 |  |  | 142 |  |  | 97 |  |  | 175,211 |  |  | — |
Public finance and other commercial loans | 932,778 |  |  | 114 |  |  | — |  |  | — |  |  | 932,892 |  |  | — |
Loans | $ | 11,952,887 |  |  | $ | 29,051 |  |  | $ | 5,935 |  |  | $ | 16,021 |  |  | $ | 12,003,894 |  |  | $ | 1,737 |
| December 31, 2021
| Current |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90 Days or More Past Due |  | Total |  | Loans > 90 Days or More Past Due And Accruing
Commercial and industrial loans | $ | 2,708,539 |  |  | $ | 2,602 |  |  | $ | 2,437 |  |  | $ | 987 |  |  | $ | 2,714,565 |  |  | $ | 675 |
Agricultural land, production and other loans to farmers | 246,380 |  |  | 36 |  |  | — |  |  | 26 |  |  | 246,442 |  |  | — |
Real estate loans: |  |  |  |  |  |  |  |  |  |  |
Construction | 522,349 |  |  | 717 |  |  | — |  |  | — |  |  | 523,066 |  |  | — |
Commercial real estate, non-owner occupied | 2,124,853 |  |  | 3,327 |  |  | — |  |  | 7,279 |  |  | 2,135,459 |  |  | — |
Commercial real estate, owner occupied | 985,785 |  |  | 643 |  |  | — |  |  | 292 |  |  | 986,720 |  |  | — |
Residential | 1,148,294 |  |  | 3,979 |  |  | 4,255 |  |  | 2,599 |  |  | 1,159,127 |  |  | — |
Home equity | 518,643 |  |  | 3,327 |  |  | 281 |  |  | 1,503 |  |  | 523,754 |  |  | 288 |
Individuals' loans for household and other personal expenditures | 145,634 |  |  | 375 |  |  | 83 |  |  | — |  |  | 146,092 |  |  | — |
Public finance and other commercial loans | 806,636 |  |  | — |  |  | — |  |  | — |  |  | 806,636 |  |  | — |
Loans | $ | 9,207,113 |  |  | $ | 15,006 |  |  | $ | 7,056 |  |  | $ | 12,686 |  |  | $ | 9,241,861 |  |  | $ | 963 |
Schedule of Non-Accrual Loans by Loan class | The following table summarizes the Corporation’s non-accrual loans by loan class for the periods indicated:
| December 31, 2022 |  | December 31, 2021 |
| Non-Accrual Loans |  | Non-Accrual Loans with no Allowance for Credit Losses |  | Non-Accrual Loans |  | Non-Accrual Loans with no Allowance for Credit Losses |  |
Commercial and industrial loans | $ | 3,292 |  |  | $ | 481 |  |  | $ | 7,598 |  |  | $ | 263 |  |  |
Agricultural land, production and other loans to farmers | 54 |  |  | — |  |  | 631 |  |  | 524 |  |  |
Real estate loans: |  |  |  |  |  |  |  |  |
Construction | 12 |  |  | — |  |  | 685 |  |  | — |  |  |
Commercial real estate, non-owner occupied | 19,374 |  |  | 280 |  | 23,029 |  |  | 6,133 |  |  |
Commercial real estate, owner occupied | 3,550 |  |  | 2,784 |  |  | 411 |  |  | — |  |  |
Residential | 13,685 |  |  | 702 |  | 9,153 |  |  | 2,160 |  |  |
Home equity | 2,247 |  |  | — |  |  | 1,552 |  |  | — |  |  |
Individuals' loans for household and other personal expenditures | 110 |  |  | — |  |  | 3 |  |  | — |  |  |
Loans | $ | 42,324 |  |  | $ | 4,247 |  |  | $ | 43,062 |  |  | $ | 9,080 |  |  |
Schedule of Troubled Debt Restructuring | The following tables summarize troubled debt restructures in the Corporation's loan portfolio that occurred during the twelve months ended December 31, 2022 and 2021, respectively.
| Twelve Months Ended December 31, 2022
| Pre- Modification Recorded Balance |  | Term Modification |  | Rate Modification |  |  |  | Post - Modification Recorded Balance |  | Number of Loans
Commercial and industrial loans | $ | 61 |  |  | $ | 62 |  |  | $ | — |  |  |  |  | $ | 62 |  |  | 1
Real estate loans: |  |  |  |  |  |  |  |  |  |  |
Residential | 53 |  | — |  |  | 56 |  |  |  | 56 |  | 1
Total | $ | 114 |  |  | $ | 62 |  |  | $ | 56 |  |  |  |  | $ | 118 |  |  | 2 |
| Twelve Months Ended December 31, 2021
| Pre- Modification Recorded Balance |  | Term Modification |  | Rate Modification |  | Combination |  | Post - Modification Recorded Balance |  | Number of Loans
Commercial and industrial loans | $ | 348 |  |  | $ | 348 |  |  | $ | — |  |  | $ | — |  |  | $ | 348 |  |  | 2
Real estate loans: |  |  |  |  |  |  |  |  |  |  |
Construction | 16 |  | — |  |  | 16 |  |  | — |  |  | 16 |  | 1
Commercial real estate, non owner occupied | 12,922 |  |  | 12,976 |  |  |  |  |  |  | 12,976 |  |  | 1
Commercial real estate, owner occupied | 51 |  | 29 |  | — |  |  | 21 |  |  | 50 |  | 2
Residential | 691 |  |  | 449 |  |  | 126 |  | 118 |  | 693 |  |  | 9
Total | $ | 14,028 |  |  | $ | 13,802 |  |  | $ | 142 |  |  | $ | 139 |  |  | $ | 14,083 |  |  | 15 |
The following table summarizes troubled debt restructures that occurred during the twelve months ended December 31, 2021, that subsequently defaulted during the period indicated and remained in default at period end. For purposes of this schedule, a loan is considered in default if it is 30-days or more past due. None of the troubled debt restructures that occurred during the twelve months ended December 31, 2022 resulted in a subsequent default that remained in default at period end.
| Twelve Months Ended December 31, 2021
| Number of Loans |  | Recorded Balance
Real estate loans: |  |  |
Residential | 5 |  |  | $ | 475 |
Total | 5 |  |  | $ | 475 |
Schedule of Purchased Credit Deteriorated Loans | The Corporation acquired Level One on April 1, 2022 and performed an evaluation of the loan portfolio in which there were loans that, at acquisition, had more than an insignificant amount of credit quality deterioration. The carrying amount of those loans is shown in the table below:
| Level One
Purchase price of loans at acquisition | $ | 41,347 |
CECL Day 1 PCD ACL | 16,599 |
Par value of acquired loans at acquisition | $ | 57,946 |
Schedule of Changes in Allowance for Loan Losses | The following tables summarize changes in the allowance for credit losses by loan segment for the twelve months ended December 31, 2022 and 2021:
| Twelve Months Ended December 31, 2022
| Commercial |  | Commercial Real Estate |  | Construction |  |  |  |  |  | Consumer & Residential |  | Total
Allowance for credit losses |  |  |  |  |  |  |  |  |  |  |  |  |
Balances, December 31, 2021 | $ | 69,935 |  |  | $ | 60,665 |  |  | $ | 20,206 |  |  |  |  |  |  | $ | 44,591 |  |  | $ | 195,397 |
Provision for credit losses | 16,697 |  |  | (20,425) |  |  | 6,367 |  |  |  |  |  |  | (2,639) |  |  | — |
CECL Day 1 non-PCD provision for credit losses | 2,957 |  |  | 5,539 |  |  | 871 |  |  |  |  |  |  | 4,588 |  |  | 13,955 |
CECL Day 1 PCD ACL | 12,970 |  |  | 2,981 |  |  | 648 |  |  |  |  |  |  | — |  |  | 16,599 |
Recoveries on loans | 872 |  |  | 1,096 |  |  | 863 |  |  |  |  |  |  | 1,096 |  |  | 3,927 |
Loans charged off | (1,215) |  |  | (3,017) |  |  | — |  |  |  |  |  |  | (2,369) |  |  | (6,601) |
Balances. December 31, 2022 | $ | 102,216 |  |  | $ | 46,839 |  |  | $ | 28,955 |  |  |  |  |  |  | $ | 45,267 |  |  | $ | 223,277 |
| Twelve Months Ended December 31, 2021
| Commercial |  | Commercial Real Estate |  | Construction |  | Consumer |  | Residential |  | Consumer & Residential |  | Total
Allowance for credit losses |  |  |  |  |  |  |  |  |  |  |  |  |
Balances, December 31, 2020 | $ | 47,115 |  |  | $ | 51,070 |  |  | $ | — |  |  | $ | 9,648 |  |  | $ | 22,815 |  |  | $ | — |  |  | $ | 130,648 |
Credit risk reclassifications |  |  | (10,284) |  |  | 10,284 |  |  | (9,648) |  |  | (22,815) |  |  | 32,463 |  |  | — |
Balances, December 31, 2020 after reclassifications | 47,115 |  |  | 40,786 |  |  | 10,284 |  |  | — |  |  | — |  |  | 32,463 |  |  | 130,648 |
Impact of adopting ASC 326 | 20,024 |  |  | 34,925 |  |  | 8,805 |  |  | — |  |  | — |  |  | 10,301 |  |  | 74,055 |
Balances, January 1, 2021 Post-ASC 326 adoption | 67,139 |  |  | 75,711 |  |  | 19,089 |  |  | — |  |  | — |  |  | 42,764 |  |  | 204,703 |
Provision for credit losses | 7,921 |  |  | (11,093) |  |  | 1,122 |  |  | — |  |  | — |  |  | 2,050 |  |  | — |
Recoveries on loans | 724 |  |  | 580 |  |  | 1 |  |  | — |  |  | — |  |  | 1,273 |  |  | 2,578 |
Loans charged off | (5,849) |  |  | (4,533) |  |  | (6) |  |  | — |  |  | — |  |  | (1,496) |  |  | (11,884) |
Balances. December 31, 2021 | $ | 69,935 |  |  | $ | 60,665 |  |  | $ | 20,206 |  |  | $ | — |  |  | $ | — |  |  | $ | 44,591 |  |  | $ | 195,397 |
Allowance for Loan Losses under prior GAAP ("Incurred Loss Model") Prior to the adoption of ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments on January 1, 2021, the Corporation maintained an allowance for loan losses in accordance with the incurred loss model as disclosed in the Corporation's 2020 Annual Report on Form 10-K. The following table summarizes changes in the allowance for loan losses by loan segment for the twelve months ended December 31, 2020:
| Twelve Months Ended December 31, 2020
| Commercial |  | Commercial Real Estate |  | Consumer |  | Residential |  | Total
Allowance for loan losses: |  |  |  |  |  |  |  |  |
Balances, December 31, 2019 | $ | 32,902 |  |  | $ | 28,778 |  |  | $ | 4,035 |  |  | $ | 14,569 |  |  | $ | 80,284 |
Provision for losses | 21,930 |  |  | 22,174 |  |  | 5,996 |  |  | 8,573 |  |  | 58,673 |
Recoveries on loans | 819 |  |  | 431 |  |  | 260 |  |  | 666 |  |  | 2,176 |
Loans charged off | (8,536) |  |  | (313) |  |  | (643) |  |  | (993) |  |  | (10,485) |
Balances, December 31, 2020 | $ | 47,115 |  |  | $ | 51,070 |  |  | $ | 9,648 |  |  | $ | 22,815 |  |  | $ | 130,648 |
Schedule of Composition of Impaired Loans by Loan Class |
| Twelve Months Ended December 31, 2020
| Average Recorded Investment |  | Interest Income Recognized
Impaired loans with no related allowance: |  |  |
Commercial and industrial loans | $ | 991 |  |  | $ | — |
Real estate Loans: |  |  |
Commercial real estate, non-owner occupied | 4,850 |  |  | 145 |
Commercial real estate, owner occupied | 1,429 |  |  | — |
Residential | 840 |  |  | 3 |
Individuals' loans for household and other personal expenditures | 3 |  |  | — |
Total | $ | 8,113 |  |  | $ | 148 |
Impaired loans with related allowance: |  |  |
Commercial and industrial loans | $ | 267 |  |  | $ | — |
Agricultural land, production and other loans to farmers | 589 |  |  | — |
Real estate Loans: |  |  |
Commercial real estate, non-owner occupied | 44,119 |  |  | — |
Commercial real estate, owner occupied | 1,447 |  |  | — |
Residential | 2,108 |  |  | 70 |
Home equity | 473 |  |  | 14 |
Total | $ | 49,003 |  |  | $ | 84 |
Total Impaired Loans | $ | 57,116 |  |  | $ | 232 |
Schedule of Financial Instruments with Off-balance Sheet Risk | Financial instruments with off-balance sheet risk were as follows:
| December 31, 2022 |  | December 31, 2021
Amounts of commitments: |  |  |
Loan commitments to extend credit | $ | 4,950,724 |  |  | $ | 3,917,215 |
Standby letters of credit | $ | 40,784 |  |  | $ | 34,613 |
Schedule of Allowance for Credit Losses, Off-balance Sheet | The following table details activity in the allowance for credit losses on off-balance sheet commitments:
| 2022 |  | 2021
Balance, January 1 | $ | 20,500 |  |  | $ | 20,500 |
CECL Day 1 unfunded commitments provision for credit losses | 2,800 |  |  | — |
Balance, December 31 | $ | 23,300 |  |  | $ | 20,500 |

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