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Portfolio Loans (Tables) | 9 Months Ended
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Sep. 30, 2022
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] |
Distribution of portfolio loans | Distributions of the loan portfolio by loan category were as follows (dollars in thousands):
| As of
| September 30, 2022 |  | December 31, 2021
Portfolio loans |  |  |
Commercial | $ | 1,945,893 |  |  | $ | 1,943,886 |
Commercial real estate | 3,278,684 |  |  | 3,119,807 |
Real estate construction | 499,560 |  |  | 385,996 |
Retail real estate | 1,643,099 |  |  | 1,512,976 |
Retail other | 302,878 |  |  | 226,333 |
Total portfolio loans | 7,670,114 |  |  | 7,188,998 |
ACL | (90,722) |  |  | (87,887) |
Portfolio loans, net | $ | 7,579,392 |  |  | $ | 7,101,111 |
Summary of risk grades segregated by category of portfolio loans (excluding accretable purchase accounting adjustments and clearings) | The following table is a summary of risk grades segregated by category of portfolio loans (dollars in thousands):
| As of September 30, 2022
| Pass |  | Watch |  | Special Mention |  | Substandard |  | Substandard Non-accrual |  | Total
Portfolio loans |  |  |  |  |  |  |  |  |  |  |
Commercial | $ | 1,707,528 |  |  | $ | 135,254 |  |  | $ | 58,189 |  |  | $ | 38,695 |  |  | $ | 6,227 |  |  | $ | 1,945,893 |
Commercial real estate | 2,889,804 |  |  | 299,638 |  |  | 42,728 |  |  | 40,722 |  |  | 5,792 |  |  | 3,278,684 |
Real estate construction | 475,099 |  |  | 22,011 |  |  | 2 |  |  | 2,400 |  |  | 48 |  |  | 499,560 |
Retail real estate | 1,625,702 |  |  | 8,601 |  |  | 2,087 |  |  | 3,469 |  |  | 3,240 |  |  | 1,643,099 |
Retail other | 302,760 |  |  | — |  |  | — |  |  | — |  |  | 118 |  |  | 302,878 |
Total portfolio loans | $ | 7,000,893 |  |  | $ | 465,504 |  |  | $ | 103,006 |  |  | $ | 85,286 |  |  | $ | 15,425 |  |  | $ | 7,670,114 |
| As of December 31, 2021
| Pass |  | Watch |  | Special Mention |  | Substandard |  | Substandard Non-accrual |  | Total
Portfolio loans |  |  |  |  |  |  |  |  |  |  |
Commercial | $ | 1,747,756 |  |  | $ | 93,582 |  |  | $ | 69,427 |  |  | $ | 26,117 |  |  | $ | 7,004 |  |  | $ | 1,943,886 |
Commercial real estate | 2,682,441 |  |  | 343,304 |  |  | 49,695 |  |  | 38,394 |  |  | 5,973 |  |  | 3,119,807 |
Real estate construction | 369,797 |  |  | 13,793 |  |  | 6 |  |  | 2,400 |  |  | — |  |  | 385,996 |
Retail real estate | 1,491,845 |  |  | 12,374 |  |  | 1,992 |  |  | 3,867 |  |  | 2,898 |  |  | 1,512,976 |
Retail other | 226,262 |  |  | — |  |  | — |  |  | — |  |  | 71 |  |  | 226,333 |
Total portfolio loans | $ | 6,518,101 |  |  | $ | 463,053 |  |  | $ | 121,120 |  |  | $ | 70,778 |  |  | $ | 15,946 |  |  | $ | 7,188,998 |
Risk grades of portfolio loans, further sorted by origination | Risk grades of portfolio loans, further sorted by origination year are as follows (dollars in thousands):
|  | As of September 30, 2022
|  | Term Loans Amortized Cost Basis by Origination Year |  | Revolving Loans |  | Total
Risk Grade Ratings |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | Prior |  |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 403,643 |  |  | $ | 315,433 |  |  | $ | 145,695 |  |  | $ | 60,284 |  |  | $ | 53,197 |  |  | $ | 149,627 |  |  | $ | 579,649 |  |  | $ | 1,707,528 |
Watch |  | 27,665 |  |  | 18,423 |  |  | 4,263 |  |  | 8,372 |  |  | 1,404 |  |  | 3,144 |  |  | 71,983 |  |  | 135,254 |
Special Mention |  | 1,772 |  |  | 691 |  |  | 1,325 |  |  | 1,078 |  |  | 3,102 |  |  | 17,538 |  |  | 32,683 |  |  | 58,189 |
Substandard |  | 9,075 |  |  | 1,292 |  |  | 695 |  |  | 6,999 |  |  | 433 |  |  | 5,402 |  |  | 14,799 |  |  | 38,695 |
Substandard non-accrual |  | — |  |  | 3,586 |  |  | 306 |  |  | 137 |  |  | — |  |  | 198 |  |  | 2,000 |  |  | 6,227 |
Total commercial |  | 442,155 |  |  | 339,425 |  |  | 152,284 |  |  | 76,870 |  |  | 58,136 |  |  | 175,909 |  |  | 701,114 |  |  | 1,945,893 |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 765,398 |  |  | 880,522 |  |  | 501,085 |  |  | 332,768 |  |  | 171,177 |  |  | 222,947 |  |  | 15,907 |  |  | 2,889,804 |
Watch |  | 69,877 |  |  | 44,756 |  |  | 50,799 |  |  | 95,446 |  |  | 18,821 |  |  | 13,338 |  |  | 6,601 |  |  | 299,638 |
Special Mention |  | 3,010 |  |  | 4,737 |  |  | 15,598 |  |  | 1,517 |  |  | 6,994 |  |  | 10,872 |  |  | — |  |  | 42,728 |
Substandard |  | 14,349 |  |  | 12,681 |  |  | 497 |  |  | 1,841 |  |  | 10,412 |  |  | 942 |  |  | — |  |  | 40,722 |
Substandard non-accrual |  | — |  |  | 4,092 |  |  | 41 |  |  | — |  |  | 1,650 |  |  | 9 |  |  | — |  |  | 5,792 |
Total commercial real estate |  | 852,634 |  |  | 946,788 |  |  | 568,020 |  |  | 431,572 |  |  | 209,054 |  |  | 248,108 |  |  | 22,508 |  |  | 3,278,684 |
Real estate construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 176,071 |  |  | 191,006 |  |  | 84,748 |  |  | 1,570 |  |  | 2,012 |  |  | 1,949 |  |  | 17,743 |  |  | 475,099 |
Watch |  | 3,100 |  |  | 3,666 |  |  | 3,269 |  |  | 10,533 |  |  | — |  |  | 1,443 |  |  | — |  |  | 22,011 |
Special Mention |  | — |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | 2 |
Substandard |  | 2,400 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,400 |
Substandard non-accrual |  | — |  |  | — |  |  | 48 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 48 |
Total real estate construction |  | 181,571 |  |  | 194,672 |  |  | 88,065 |  |  | 12,105 |  |  | 2,012 |  |  | 3,392 |  |  | 17,743 |  |  | 499,560 |
Retail real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 344,033 |  |  | 464,066 |  |  | 180,543 |  |  | 79,304 |  |  | 58,925 |  |  | 281,430 |  |  | 217,401 |  |  | 1,625,702 |
Watch |  | 2,881 |  |  | 1,163 |  |  | 1,875 |  |  | 1,469 |  |  | 1,146 |  |  | 67 |  |  | — |  |  | 8,601 |
Special Mention |  | 148 |  |  | 1,864 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 75 |  |  | 2,087 |
Substandard |  | — |  |  | 1,163 |  |  | 207 |  |  | 82 |  |  | 142 |  |  | 1,868 |  |  | 7 |  |  | 3,469 |
Substandard non-accrual |  | — |  |  | 150 |  |  | 110 |  |  | — |  |  | 390 |  |  | 1,985 |  |  | 605 |  |  | 3,240 |
Total retail real estate |  | 347,062 |  |  | 468,406 |  |  | 182,735 |  |  | 80,855 |  |  | 60,603 |  |  | 285,350 |  |  | 218,088 |  |  | 1,643,099 |
Retail other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 121,375 |  |  | 47,136 |  |  | 14,999 |  |  | 15,909 |  |  | 7,677 |  |  | 2,124 |  |  | 93,540 |  |  | 302,760 |
Substandard non-accrual |  | 14 |  |  | 89 |  |  | 3 |  |  | — |  |  | 10 |  |  | 2 |  |  | — |  |  | 118 |
Total retail other |  | 121,389 |  |  | 47,225 |  |  | 15,002 |  |  | 15,909 |  |  | 7,687 |  |  | 2,126 |  |  | 93,540 |  |  | 302,878 |
Total portfolio loans |  | $ | 1,944,811 |  |  | $ | 1,996,516 |  |  | $ | 1,006,106 |  |  | $ | 617,311 |  |  | $ | 337,492 |  |  | $ | 714,885 |  |  | $ | 1,052,993 |  |  | $ | 7,670,114 |
|  | As of December 31, 2021
|  | Term Loans Amortized Cost Basis by Origination Year |  | Revolving Loans |  | Total
Risk Grade Ratings |  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | Prior |  |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 512,729 |  |  | $ | 228,811 |  |  | $ | 107,877 |  |  | $ | 84,873 |  |  | $ | 74,351 |  |  | $ | 122,418 |  |  | $ | 616,697 |  |  | $ | 1,747,756 |
Watch |  | 13,847 |  |  | 5,913 |  |  | 14,274 |  |  | 5,060 |  |  | 1,361 |  |  | 2,866 |  |  | 50,261 |  |  | 93,582 |
Special Mention |  | 7,062 |  |  | 898 |  |  | 5,961 |  |  | 4,025 |  |  | 6,790 |  |  | 11,845 |  |  | 32,846 |  |  | 69,427 |
Substandard |  | 3,595 |  |  | 3,362 |  |  | 3,136 |  |  | 1,855 |  |  | 1,125 |  |  | 5,459 |  |  | 7,585 |  |  | 26,117 |
Substandard non-accrual |  | 4,126 |  |  | 364 |  |  | 142 |  |  | — |  |  | 320 |  |  | 52 |  |  | 2,000 |  |  | 7,004 |
Total commercial |  | 541,359 |  |  | 239,348 |  |  | 131,390 |  |  | 95,813 |  |  | 83,947 |  |  | 142,640 |  |  | 709,389 |  |  | 1,943,886 |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 969,548 |  |  | 637,550 |  |  | 425,850 |  |  | 235,928 |  |  | 200,373 |  |  | 198,002 |  |  | 15,190 |  |  | 2,682,441 |
Watch |  | 51,560 |  |  | 38,820 |  |  | 123,324 |  |  | 48,088 |  |  | 46,761 |  |  | 32,608 |  |  | 2,143 |  |  | 343,304 |
Special Mention |  | 9,542 |  |  | 7,060 |  |  | 6,585 |  |  | 10,098 |  |  | 6,357 |  |  | 9,870 |  |  | 183 |  |  | 49,695 |
Substandard |  | 21,002 |  |  | 3,781 |  |  | 1,218 |  |  | 11,451 |  |  | 521 |  |  | 421 |  |  | — |  |  | 38,394 |
Substandard non-accrual |  | 112 |  |  | 181 |  |  | 359 |  |  | 1,893 |  |  | 3,407 |  |  | 21 |  |  | — |  |  | 5,973 |
Total commercial real estate |  | 1,051,764 |  |  | 687,392 |  |  | 557,336 |  |  | 307,458 |  |  | 257,419 |  |  | 240,922 |  |  | 17,516 |  |  | 3,119,807 |
Real estate construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 202,082 |  |  | 123,491 |  |  | 31,927 |  |  | 3,155 |  |  | 738 |  |  | 1,223 |  |  | 7,181 |  |  | 369,797 |
Watch |  | 7,886 |  |  | 4,159 |  |  | 54 |  |  | — |  |  | 1,574 |  |  | 120 |  |  | — |  |  | 13,793 |
Special Mention |  | — |  |  | — |  |  | 6 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 6 |
Substandard |  | — |  |  | 2,400 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,400 |
Total real estate construction |  | 209,968 |  |  | 130,050 |  |  | 31,987 |  |  | 3,155 |  |  | 2,312 |  |  | 1,343 |  |  | 7,181 |  |  | 385,996 |
Retail real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 523,541 |  |  | 215,068 |  |  | 96,617 |  |  | 79,158 |  |  | 82,478 |  |  | 281,737 |  |  | 213,246 |  |  | 1,491,845 |
Watch |  | 4,100 |  |  | 2,460 |  |  | 1,780 |  |  | 1,312 |  |  | 343 |  |  | 150 |  |  | 2,229 |  |  | 12,374 |
Special Mention |  | 1,965 |  |  | 27 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,992 |
Substandard |  | 1,369 |  |  | 232 |  |  | 12 |  |  | 71 |  |  | 165 |  |  | 1,687 |  |  | 331 |  |  | 3,867 |
Substandard non-accrual |  | 235 |  |  | 63 |  |  | — |  |  | 16 |  |  | 227 |  |  | 1,705 |  |  | 652 |  |  | 2,898 |
Total retail real estate |  | 531,210 |  |  | 217,850 |  |  | 98,409 |  |  | 80,557 |  |  | 83,213 |  |  | 285,279 |  |  | 216,458 |  |  | 1,512,976 |
Retail other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 59,366 |  |  | 22,305 |  |  | 26,126 |  |  | 16,189 |  |  | 7,180 |  |  | 1,326 |  |  | 93,770 |  |  | 226,262 |
Substandard non-accrual |  | 34 |  |  | 10 |  |  | — |  |  | 14 |  |  | 13 |  |  | — |  |  | — |  |  | 71 |
Total retail other |  | 59,400 |  |  | 22,315 |  |  | 26,126 |  |  | 16,203 |  |  | 7,193 |  |  | 1,326 |  |  | 93,770 |  |  | 226,333 |
Total portfolio loans |  | $ | 2,393,701 |  |  | $ | 1,296,955 |  |  | $ | 845,248 |  |  | $ | 503,186 |  |  | $ | 434,084 |  |  | $ | 671,510 |  |  | $ | 1,044,314 |  |  | $ | 7,188,998 |
Summary of portfolio loans that are past due and still accruing or on a non-accrual status | An analysis of the amortized cost basis of portfolio loans that are past due and still accruing, or on a non-accrual status, is as follows (dollars in thousands):
| As of September 30, 2022
| Loans past due, still accruing |  | Non-accrual Loans
| 30-59 Days |  | 60-89 Days |  | 90+Days |
Past due and non-accrual loans |  |  |  |  |  |  |
Commercial | $ | 19 |  |  | $ | 45 |  |  | $ | 625 |  |  | $ | 6,227 |
Commercial real estate | 411 |  |  | — |  |  | 349 |  |  | 5,792 |
Real estate construction | — |  |  | — |  |  | — |  |  | 48 |
Retail real estate | 3,734 |  |  | 1,831 |  |  | 255 |  |  | 3,240 |
Retail other | 262 |  |  | 5 |  |  | — |  |  | 118 |
Total past due and non-accrual loans | $ | 4,426 |  |  | $ | 1,881 |  |  | $ | 1,229 |  |  | $ | 15,425 |
| As of December 31, 2021
| Loans past due, still accruing |  | Non-accrual Loans
| 30-59 Days |  | 60-89 Days |  | 90+Days |
Past due and non-accrual loans |  |  |  |  |  |  |
Commercial | $ | 363 |  |  | $ | 10 |  |  | $ | 213 |  |  | $ | 7,004 |
Commercial real estate | 151 |  |  | 441 |  |  | — |  |  | 5,973 |
Real estate construction | 56 |  |  | — |  |  | — |  |  | — |
Retail real estate | 3,312 |  |  | 1,830 |  |  | 693 |  |  | 2,898 |
Retail other | 82 |  |  | 16 |  |  | — |  |  | 71 |
Total past due and non-accrual loans | $ | 3,964 |  |  | $ | 2,297 |  |  | $ | 906 |  |  | $ | 15,946 |
Summary of TDR loans | TDR loan balances are summarized as follows (dollars in thousands):
| As of
| September 30, 2022 |  | December 31, 2021
TDRs |  |  |
In compliance with modified terms | $ | 1,940 |  |  | $ | 1,801 |
30 – 89 days past due | — |  |  | — |
Non-performing TDRs | 483 |  |  | 551 |
Total TDRs | $ | 2,423 |  |  | $ | 2,352 |
Loans that were newly designated as TDRs during the periods presented, are summarized as follows (dollars in thousands):
| Three Months Ended September 30, 2022 |  | Nine Months Ended September 30, 2022
|  |  | Recorded Investment |  |  |  | Recorded Investment
| Number of Contracts |  | Rate Modification 1 |  | Payment Modification 1 |  | Number of Contracts |  | Rate Modification 1 |  | Payment Modification 1
Commercial | — |  | $ | — |  |  | $ | — |  |  | 1 |  | $ | — |  |  | $ | 381 |
| Three Months Ended September 30, 2021 |  | Nine Months Ended September 30, 2021
|  |  | Recorded Investment |  |  |  | Recorded Investment
| Number of Contracts |  | Rate Modification 1 |  | Payment Modification 1 |  | Number of Contracts |  | Rate Modification 1 |  | Payment Modification 1
Commercial | — |  | $ | — |  |  | $ | — |  |  | 1 |  | $ | 444 |  |  | $ | — |
1.TDRs may include multiple concessions; those that include an interest rate concession and payment concession are shown in the rate modification column.
Schedule of loans modified under the CARES Act or Interagency Statement | The Company’s TDR loan totals do not include the following modified loans with payment deferrals that fall under the CARES Act or Interagency Statement, which suspended GAAP requirements related to TDR classification (dollars in thousands):
| As of September 30, 2022 |  | As of December 31, 2021
| Number of Contracts |  | Recorded Investment |  | Number of Contracts |  | Recorded Investment
COVID-19 loan modifications |  |  |  |  |  |  |
Commercial loans: |  |  |  |  |  |  |
Interest-only deferrals | 8 |  | $ | 20,556 |  |  | 32 |  | $ | 128,730 |
Retail loans: |  |  |  |  |  |  |
Mortgage and personal loan deferrals | 1 |  | 99 |  |  | 2 |  | 137 |
Total COVID-19 loans modifications | 9 |  | $ | 20,655 |  |  | 34 |  | $ | 128,867 |
Schedule of details of impaired loans, segregated by category | Average recorded investment is calculated using the most recent four quarters (dollars in thousands):
| As of September 30, 2022
| Unpaid Principal Balance |  | Recorded Investment |  |  |  | Average Recorded Investment
|  | With No Allowance |  | With Allowance |  | Total |  | Related Allowance |
Loans evaluated individually |  |  |  |  |  |  |  |  |  |  |
Commercial | $ | 9,455 |  |  | $ | 547 |  |  | $ | 5,892 |  |  | $ | 6,439 |  |  | $ | 2,806 |  |  | $ | 7,488 |
Commercial real estate | 7,497 |  |  | 1,663 |  |  | 4,035 |  |  | 5,698 |  |  | 2,000 |  |  | 5,216 |
Real estate construction | 255 |  |  | 255 |  |  | — |  |  | 255 |  |  | — |  |  | 266 |
Retail real estate | 2,258 |  |  | 2,089 |  |  | 25 |  |  | 2,114 |  |  | 25 |  |  | 2,526 |
Total loans evaluated individually | $ | 19,465 |  |  | $ | 4,554 |  |  | $ | 9,952 |  |  | $ | 14,506 |  |  | $ | 4,831 |  |  | $ | 15,496 |
| As of December 31, 2021
| Unpaid Principal Balance |  | Recorded Investment |  |  |  | Average Recorded Investment
|  | With No Allowance |  | With Allowance |  | Total |  | Related Allowance |
Loans evaluated individually |  |  |  |  |  |  |  |  |  |  |
Commercial | $ | 10,247 |  |  | $ | 498 |  |  | $ | 6,490 |  |  | $ | 6,988 |  |  | $ | 3,564 |  |  | $ | 8,791 |
Commercial real estate | 6,456 |  |  | 5,750 |  |  | — |  |  | 5,750 |  |  | — |  |  | 6,390 |
Real estate construction | 272 |  |  | 272 |  |  | — |  |  | 272 |  |  | — |  |  | 282 |
Retail real estate | 2,514 |  |  | 2,345 |  |  | 25 |  |  | 2,370 |  |  | 25 |  |  | 4,093 |
Total loans evaluated individually | $ | 19,489 |  |  | $ | 8,865 |  |  | $ | 6,515 |  |  | $ | 15,380 |  |  | $ | 3,589 |  |  | $ | 19,556 |
Schedule of activity on the allowance for loan losses | The following tables summarize activity in the ACL. Allocation of a portion of the ACL to one category does not preclude its availability to absorb losses in other categories (dollars in thousands):
| Three Months Ended September 30, 2022
| Commercial |  | Commercial Real Estate |  | Real Estate Construction |  | Retail Real Estate |  | Retail Other |  | Total
ACL balance, June 30, 2022 | $ | 23,359 |  |  | $ | 37,182 |  |  | $ | 5,669 |  |  | $ | 17,984 |  |  | $ | 4,563 |  |  | $ | 88,757 |
Provision for credit losses | 615 |  |  | 598 |  |  | 216 |  |  | 684 |  |  | 251 |  |  | 2,364 |
Charged-off | (381) |  |  | — |  |  | — |  |  | (220) |  |  | (218) |  |  | (819) |
Recoveries | 102 |  |  | 19 |  |  | 86 |  |  | 172 |  |  | 41 |  |  | 420 |
ACL balance, September 30, 2022 | $ | 23,695 |  |  | $ | 37,799 |  |  | $ | 5,971 |  |  | $ | 18,620 |  |  | $ | 4,637 |  |  | $ | 90,722 |
| Nine Months Ended September 30, 2022
| Commercial |  | Commercial Real Estate |  | Real Estate Construction |  | Retail Real Estate |  | Retail Other |  | Total
ACL balance, December 31, 2021 | $ | 23,855 |  |  | $ | 38,249 |  |  | $ | 5,102 |  |  | $ | 17,589 |  |  | $ | 3,092 |  |  | $ | 87,887 |
Provision for credit losses | 123 |  |  | 408 |  |  | 663 |  |  | 826 |  |  | 1,744 |  |  | 3,764 |
Charged-off | (589) |  |  | (1,372) |  |  | — |  |  | (253) |  |  | (409) |  |  | (2,623) |
Recoveries | 306 |  |  | 514 |  |  | 206 |  |  | 458 |  |  | 210 |  |  | 1,694 |
ACL balance, September 30, 2022 | $ | 23,695 |  |  | $ | 37,799 |  |  | $ | 5,971 |  |  | $ | 18,620 |  |  | $ | 4,637 |  |  | $ | 90,722 |
| Three Months Ended September 30, 2021
| Commercial |  | Commercial Real Estate |  | Real Estate Construction |  | Retail Real Estate |  | Retail Other |  | Total
ACL balance, June 30, 2021 | $ | 24,356 |  |  | $ | 39,974 |  |  | $ | 7,599 |  |  | $ | 20,505 |  |  | $ | 2,976 |  |  | $ | 95,410 |
Provision for credit losses | 657 |  |  | (25) |  |  | (1,503) |  |  | (1,155) |  |  | 157 |  |  | (1,869) |
Charged-off | (764) |  |  | (191) |  |  | — |  |  | (155) |  |  | (98) |  |  | (1,208) |
Recoveries | 157 |  |  | 73 |  |  | 25 |  |  | 157 |  |  | 57 |  |  | 469 |
ACL balance, September 30, 2021 | $ | 24,406 |  |  | $ | 39,831 |  |  | $ | 6,121 |  |  | $ | 19,352 |  |  | $ | 3,092 |  |  | $ | 92,802 |
| Nine Months Ended September 30, 2021
| Commercial |  | Commercial Real Estate |  | Real Estate Construction |  | Retail Real Estate |  | Retail Other |  | Total
ACL balance, December 31, 2020 | $ | 23,866 |  |  | $ | 46,230 |  |  | $ | 8,193 |  |  | $ | 21,992 |  |  | $ | 767 |  |  | $ | 101,048 |
Day 1 PCD 1 | 3,546 |  |  | 336 |  |  | — |  |  | 129 |  |  | 167 |  |  | 4,178 |
Provision for credit losses | (1,428) |  |  | (6,109) |  |  | (2,082) |  |  | (3,028) |  |  | 2,282 |  |  | (10,365) |
Charged-off | (2,026) |  |  | (812) |  |  | (209) |  |  | (315) |  |  | (349) |  |  | (3,711) |
Recoveries | 448 |  |  | 186 |  |  | 219 |  |  | 574 |  |  | 225 |  |  | 1,652 |
ACL balance, September 30, 2021 | $ | 24,406 |  |  | $ | 39,831 |  |  | $ | 6,121 |  |  | $ | 19,352 |  |  | $ | 3,092 |  |  | $ | 92,802 |
1.The Day 1 PCD is attributable to the CAC acquisition in the second quarter of 2021.
Schedule of allowance for loan losses and recorded investments in portfolio loans, by category | The following tables present the ACL and amortized cost of portfolio loans by category (dollars in thousands):
| As of September 30, 2022
| Portfolio Loans |  | ACL Attributed to Portfolio Loans
| Collectively Evaluated for Impairment |  | Individually Evaluated for Impairment |  | Total |  | Collectively Evaluated for Impairment |  | Individually Evaluated for Impairment |  | Total
Portfolio loan category |  |  |  |  |  |  |  |  |  |  |
Commercial | $ | 1,939,454 |  |  | $ | 6,439 |  |  | $ | 1,945,893 |  |  | $ | 20,889 |  |  | $ | 2,806 |  |  | $ | 23,695 |
Commercial real estate | 3,272,986 |  |  | 5,698 |  |  | 3,278,684 |  |  | 35,799 |  |  | 2,000 |  |  | 37,799 |
Real estate construction | 499,305 |  |  | 255 |  |  | 499,560 |  |  | 5,971 |  |  | — |  |  | 5,971 |
Retail real estate | 1,640,985 |  |  | 2,114 |  |  | 1,643,099 |  |  | 18,595 |  |  | 25 |  |  | 18,620 |
Retail other | 302,878 |  |  | — |  |  | 302,878 |  |  | 4,637 |  |  | — |  |  | 4,637 |
Portfolio loans and related ACL | $ | 7,655,608 |  |  | $ | 14,506 |  |  | $ | 7,670,114 |  |  | $ | 85,891 |  |  | $ | 4,831 |  |  | $ | 90,722 |
| As of December 31, 2021
| Portfolio Loans |  | ACL Attributed to Portfolio Loans
| Collectively Evaluated for Impairment |  | Individually Evaluated for Impairment |  | Total |  | Collectively Evaluated for Impairment |  | Individually Evaluated for Impairment |  | Total
Portfolio loan category |  |  |  |  |  |  |  |  |  |  |
Commercial | $ | 1,936,898 |  |  | $ | 6,988 |  |  | $ | 1,943,886 |  |  | $ | 20,291 |  |  | $ | 3,564 |  |  | $ | 23,855 |
Commercial real estate | 3,114,057 |  |  | 5,750 |  |  | 3,119,807 |  |  | 38,249 |  |  | — |  |  | 38,249 |
Real estate construction | 385,724 |  |  | 272 |  |  | 385,996 |  |  | 5,102 |  |  | — |  |  | 5,102 |
Retail real estate | 1,510,606 |  |  | 2,370 |  |  | 1,512,976 |  |  | 17,564 |  |  | 25 |  |  | 17,589 |
Retail other | 226,333 |  |  | — |  |  | 226,333 |  |  | 3,092 |  |  | — |  |  | 3,092 |
Portfolio loans and related ACL | $ | 7,173,618 |  |  | $ | 15,380 |  |  | $ | 7,188,998 |  |  | $ | 84,298 |  |  | $ | 3,589 |  |  | $ | 87,887 |

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