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Allowance for Credit Losses | 12 Months Ended
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Dec. 31, 2021
Receivables [Abstract] |
ALLOWANCE FOR CREDIT LOSSES | ALLOWANCE FOR CREDIT LOSSES We maintain an ACL at a level determined to be adequate to absorb estimated expected credit losses within the loan portfolio over the contractual life of an instrument that considers our historical loss experience, current conditions and forecasts of future economic conditions as of the balance sheet date. We develop and document a systematic ACL methodology based on the following portfolio segments: 1) CRE, 2) C&I, 3) Commercial Construction, 4) Business Banking, 5) Consumer Real Estate and 6) Other Consumer. The following are key risks within each portfolio segment: CRE—Loans secured by commercial purpose real estate, including both owner-occupied properties and investment properties for various purposes such as hotels, retail, multifamily and health care. The primary sources of repayment for these loans are the operations of the individual projects and global cash flows of the debtors. The condition of the local economy is an important indicator of risk, but there are also more specific risks depending on the collateral type and the business prospects of the lessee, if the project is not owner-occupied. C&I—Loans made to operating companies or manufacturers for the purpose of production, operating capacity, accounts receivable, inventory or equipment financing. The primary source of repayment for these loans is cash flow from the operations of the company. The condition of the local economy is an important indicator of risk, but there are also more specific risks depending on the industry of the company. Collateral for these types of loans often does not have sufficient value in a distressed or liquidation scenario to satisfy the outstanding debt. Commercial Construction—Loans made to finance construction of buildings or other structures, as well as to finance the acquisition and development of raw land for various purposes. While the risk of these loans is generally confined to the construction period, if there are problems, the project may not be completed, and as such, may not provide sufficient cash flow on its own to service the debt or have sufficient value in a liquidation to cover the outstanding principal. The condition of the local economy is an important indicator of risk, but there are also more specific risks depending on the type of project and the experience and resources of the developer. Business Banking—Commercial loans made to small businesses that are standard, non-complex products evaluated through a streamlined credit approval process that has been designed to maximize efficiency while maintaining high credit quality standards that meet small business market customers’ needs. The business banking portfolio is monitored by utilizing a standard and closely managed process focusing on behavioral and performance criteria. The condition of the local economy is an important indicator of risk, but there are also more specific risks depending on the collateral type and business. Consumer Real Estate—Loans secured by first and second liens such as home equity loans, home equity lines of credit and 1-4 family residential mortgages. The primary source of repayment for these loans is the income and assets of the borrower. The condition of the local economy, in particular the unemployment rate, is an important indicator of risk for this segment. The state of the local housing market can also have a significant impact on this segment because low demand and/or declining home values can limit the ability of borrowers to sell a property and satisfy the debt. Other Consumer—Loans made to individuals that may be secured by assets other than 1-4 family residences, as well as unsecured loans. This segment includes auto loans, unsecured loans and lines and credit cards. The primary source of repayment for these loans is the income and assets of the borrower. The condition of the local economy, in particular the unemployment rate, is an important indicator of risk for this segment. The value of the collateral, if there is any, is less likely to be a source of repayment due to less certain collateral values. Management monitors various credit quality indicators for the commercial, business banking and consumer loan portfolios, including changes in risk ratings, nonperforming status and delinquency on a monthly basis. We monitor the commercial loan portfolio through an internal risk rating system. Loan risk ratings are assigned based upon the creditworthiness of the borrower and are reviewed on an ongoing basis according to our internal policies. Loans within the pass rating generally have a lower risk of loss than loans risk rated as special mention or substandard. Our risk ratings are consistent with regulatory guidance and are as follows: Pass—The loan is currently performing and is of high quality. Special Mention—A special mention loan has potential weaknesses that warrant management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects or in the strength of our credit position at some future date. Substandard—A substandard loan is not adequately protected by the net worth and/or paying capacity of the borrower or by the collateral pledged, if any. Substandard loans have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. These loans are characterized by the distinct possibility that we will sustain some loss if the deficiencies are not corrected. Doubtful—Loans classified doubtful have all the weaknesses inherent in those classified substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently known facts, conditions, and values, highly questionable and improbable. The following tables present loan balances by year of origination and internally assigned risk rating for our portfolio segments as of the dates presented:
| December 31, 2021
| Risk Rating
(dollars in thousands) | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 and Prior | Revolving | Revolving-Term | Total
Commercial Real Estate |  |  |  |  |  |  |  |  |
Pass | $ | 385,347 |  | $ | 316,003 |  | $ | 412,191 |  | $ | 314,303 |  | $ | 213,019 |  | $ | 698,992 |  | $ | 35,448 |  | — |  | $ | 2,375,303 |
Special Mention | — |  | — |  | 37,786 |  | 6,401 |  | 40,445 |  | 75,938 |  | — |  | — |  | 160,570 |
Substandard | — |  | 1,356 |  | 18,743 |  | 14,039 |  | 12,555 |  | 106,461 |  | 1,500 |  | — |  | 154,654 |
Doubtful | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Commercial Real Estate | 385,347 |  | 317,359 |  | 468,720 |  | 334,743 |  | 266,019 |  | 881,391 |  | 36,948 |  | — |  | 2,690,528 |
Commercial and Industrial |  |  |  |  |  |  |  |  |
Pass | 437,483 |  | 126,371 |  | 115,359 |  | 83,030 |  | 37,176 |  | 132,182 |  | 536,554 |  | — |  | 1,468,155 |
Special Mention | 46 |  | — |  | 3,060 |  | 2,546 |  | 72 |  | 832 |  | 8,887 |  | — |  | 15,443 |
Substandard | — |  | — |  | 14,221 |  | 1,336 |  | 4,174 |  | 3,456 |  | 4,961 |  | — |  | 28,148 |
Doubtful | — |  | — |  | 1,777 |  | — |  | — |  | — |  | — |  | — |  | 1,777 |
Total Commercial and Industrial | 437,529 |  | 126,371 |  | 134,417 |  | 86,912 |  | 41,422 |  | 136,470 |  | 550,402 |  | — |  | 1,513,523 |
Commercial Construction |  |  |  |  |  |  |  |  |
Pass | 142,321 |  | 108,405 |  | 111,512 |  | 16,838 |  | 989 |  | 3,539 |  | 30,036 |  | — |  | 413,640 |
Special Mention | — |  | — |  | — |  | — |  | — |  | 4,458 |  | — |  | — |  | 4,458 |
Substandard | — |  | 2,157 |  | 2,020 |  | — |  | — |  | 2,480 |  | — |  | — |  | 6,657 |
Doubtful | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Commercial Construction | 142,321 |  | 110,562 |  | 113,532 |  | 16,838 |  | 989 |  | 10,477 |  | 30,036 |  | — |  | 424,755 |
Business Banking |  |  |  |  |  |  |  |  |
Pass | 257,264 |  | 107,791 |  | 141,411 |  | 110,586 |  | 79,187 |  | 293,215 |  | 107,093 |  | 443 |  | 1,096,990 |
Special Mention | 104 |  | 151 |  | 1,986 |  | 1,365 |  | 1,057 |  | 5,929 |  | 160 |  | 111 |  | 10,863 |
Substandard | 41 |  | 106 |  | 1,579 |  | 3,277 |  | 1,645 |  | 19,591 |  | 977 |  | 625 |  | 27,841 |
Doubtful | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Business Banking | 257,409 |  | 108,048 |  | 144,976 |  | 115,228 |  | 81,889 |  | 318,735 |  | 108,230 |  | 1,179 |  | 1,135,693 |
Consumer Real Estate |  |  |  |  |  |  |  |  |
Pass | 137,465 |  | 100,995 |  | 91,981 |  | 48,531 |  | 39,029 |  | 231,861 |  | 442,530 |  | 23,391 |  | 1,115,783 |
Special Mention | — |  | — |  | — |  | — |  | — |  | 937 |  | — |  | — |  | 937 |
Substandard | — |  | — |  | 184 |  | 1,625 |  | 1,355 |  | 5,664 |  | 876 |  | 1,161 |  | 10,865 |
Doubtful | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Consumer Real Estate | 137,465 |  | 100,995 |  | 92,165 |  | 50,156 |  | 40,384 |  | 238,462 |  | 443,406 |  | 24,552 |  | 1,127,585 |
Other consumer |  |  |  |  |  |  |  |  |
Pass | 19,976 |  | 9,396 |  | 7,120 |  | 2,878 |  | 613 |  | 2,037 |  | 57,702 |  | 1,130 |  | 100,852 |
Special Mention | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Substandard | 83 |  | 52 |  | 141 |  | 215 |  | 408 |  | 4,407 |  | 201 |  | 1,547 |  | 7,054 |
Doubtful | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Other Consumer | 20,059 |  | 9,448 |  | 7,261 |  | 3,093 |  | 1,021 |  | 6,444 |  | 57,903 |  | 2,677 |  | 107,906 |
Total Loan Balance | $ | 1,380,130 |  | $ | 772,783 |  | $ | 961,071 |  | $ | 606,970 |  | $ | 431,724 |  | $ | 1,591,979 |  | $ | 1,226,925 |  | $ | 28,408 |  | $ | 6,999,990 |
| December 31, 2020
| Risk Rating
(dollars in thousands) | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 and Prior | Revolving | Revolving-Term | Total
Commercial Real Estate |  |  |  |  |  |  |  |  |
Pass | $ | 334,086 |  | $ | 422,800 |  | $ | 394,963 |  | $ | 277,724 |  | $ | 307,321 |  | $ | 615,217 |  | $ | 46,330 |  | — |  | $ | 2,398,441 |
Special Mention | — |  | 35,499 |  | 10,200 |  | 22,502 |  | 55,174 |  | 75,022 |  | — |  | — |  | 198,397 |
Substandard | — |  | 17,259 |  | 12,781 |  | 19,914 |  | 50,700 |  | 83,792 |  | 1,500 |  | — |  | 185,946 |
Doubtful | — |  | 645 |  | — |  | — |  | 1,989 |  | 6,529 |  | — |  | — |  | 9,163 |
Total Commercial Real Estate | 334,086 |  | 476,203 |  | 417,944 |  | 320,140 |  | 415,184 |  | 780,560 |  | 47,830 |  | — |  | 2,791,947 |
Commercial and Industrial |  |  |  |  |  |  |  |  |
Pass | 454,131 |  | 199,453 |  | 140,049 |  | 68,607 |  | 27,645 |  | 206,782 |  | 383,082 |  | — |  | 1,479,749 |
Special Mention | 3,697 |  | 8,211 |  | 2,628 |  | 697 |  | 768 |  | 1,046 |  | 23,527 |  | — |  | 40,574 |
Substandard | — |  | 7,793 |  | 2,613 |  | 8,544 |  | 75 |  | 13,781 |  | 2,022 |  | — |  | 34,828 |
Doubtful | — |  | — |  | — |  | 4,401 |  | — |  | — |  | — |  | — |  | 4,401 |
Total Commercial and Industrial | 457,828 |  | 215,457 |  | 145,290 |  | 82,249 |  | 28,488 |  | 221,609 |  | 408,631 |  | — |  | 1,559,552 |
Commercial Construction |  |  |  |  |  |  |  |  |
Pass | 131,235 |  | 224,794 |  | 59,649 |  | 2,420 |  | 6,346 |  | 4,555 |  | 12,778 |  | — |  | 441,777 |
Special Mention | 1,578 |  | 2,533 |  | 3,886 |  | — |  | — |  | 8,593 |  | — |  | — |  | 16,590 |
Substandard | — |  | 3,580 |  | — |  | 501 |  | — |  | 3,629 |  | — |  | — |  | 7,710 |
Doubtful | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Commercial Construction | 132,813 |  | 230,907 |  | 63,535 |  | 2,921 |  | 6,346 |  | 16,777 |  | 12,778 |  | — |  | 466,077 |
Business Banking |  |  |  |  |  |  |  |  |
Pass | 296,254 |  | 154,335 |  | 123,207 |  | 86,552 |  | 77,238 |  | 266,042 |  | 103,571 |  | 291 |  | 1,107,490 |
Special Mention | — |  | 1,060 |  | 1,147 |  | 1,602 |  | 1,084 |  | 6,866 |  | 637 |  | 123 |  | 12,519 |
Substandard | 103 |  | 1,078 |  | 3,896 |  | 3,209 |  | 3,880 |  | 25,871 |  | 1,341 |  | 680 |  | 40,058 |
Doubtful | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Business Banking | 296,357 |  | 156,473 |  | 128,250 |  | 91,363 |  | 82,202 |  | 298,779 |  | 105,549 |  | 1,094 |  | 1,160,067 |
Consumer Real Estate |  |  |  |  |  |  |  |  |
Pass | 120,736 |  | 122,171 |  | 67,700 |  | 63,653 |  | 73,805 |  | 243,939 |  | 438,888 |  | 22,667 |  | 1,153,559 |
Special Mention | — |  | — |  | 1,489 |  | — |  | — |  | 150 |  | 132 |  | — |  | 1,771 |
Substandard | — |  | 373 |  | 742 |  | 1,480 |  | 2,449 |  | 6,958 |  | — |  | — |  | 12,002 |
Doubtful | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Consumer Real Estate | 120,736 |  | 122,544 |  | 69,931 |  | 65,133 |  | 76,254 |  | 251,047 |  | 439,020 |  | 22,667 |  | 1,167,332 |
Other consumer |  |  |  |  |  |  |  |  |
Pass | 18,849 |  | 13,162 |  | 6,784 |  | 3,395 |  | 2,082 |  | 687 |  | 26,647 |  | 2,767 |  | 74,373 |
Special Mention | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Substandard | 15 |  | — |  | — |  | — |  | — |  | 3,367 |  | 744 |  | 2,386 |  | 6,512 |
Doubtful | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Other Consumer | 18,864 |  | 13,162 |  | 6,784 |  | 3,395 |  | 2,082 |  | 4,054 |  | 27,391 |  | 5,153 |  | 80,885 |
Total Loan Balance | $ | 1,360,684 |  | $ | 1,214,746 |  | $ | 831,734 |  | $ | 565,201 |  | $ | 610,556 |  | $ | 1,572,826 |  | $ | 1,041,199 |  | $ | 28,914 |  | $ | 7,225,860 |
We monitor the delinquent status of the commercial and consumer portfolios on a monthly basis. Loans are considered nonperforming when interest and principal are 90 days or more past due or management has determined that a material deterioration in the borrower’s financial condition exists. The risk of loss is generally highest for nonperforming loans. The following tables present loan balances by year of origination and performing and nonperforming status for our portfolio segments as of the dates presented:
| December 31, 2021
(dollars in thousands) | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 and Prior | Revolving | Revolving-Term | Total
Commercial Real Estate |  |  |  |  |  |  |  |  |
Performing | $ | 385,347 |  | $ | 317,359 |  | $ | 461,613 |  | $ | 332,482 |  | $ | 259,723 |  | $ | 865,567 |  | $ | 36,948 |  | $ | — |  | $ | 2,659,039 |
Nonperforming | — |  |  | 7,107 |  | 2,261 |  | 6,296 |  | 15,824 |  | — |  | — |  | 31,488 |
Total Commercial Real Estate | 385,347 |  | 317,359 |  | 468,720 |  | 334,743 |  | 266,019 |  | 881,391 |  | 36,948 |  | — |  | 2,690,528 |
Commercial and Industrial |  |  |  |  |  |  |  |  |
Performing | 437,529 |  | 126,371 |  | 123,944 |  | 86,852 |  | 38,540 |  | 136,427 |  | 548,622 |  | — |  | 1,498,285 |
Nonperforming | — |  | — |  | 10,473 |  | 60 |  | 2,882 |  | 43 |  | 1,780 |  | — |  | 15,239 |
Total Commercial and Industrial | 437,529 |  | 126,371 |  | 134,417 |  | 86,912 |  | 41,422 |  | 136,470 |  | 550,402 |  | — |  | 1,513,523 |
Commercial Construction |  |  |  |  |  |  |  |  |
Performing | 142,321 |  | 110,562 |  | 111,445 |  | 16,838 |  | 989 |  | 10,093 |  | 30,036 |  | — |  | 422,284 |
Nonperforming | — |  | — |  | 2,087 |  | — |  | — |  | 384 |  | — |  | — |  | 2,471 |
Total Commercial Construction | 142,321 |  | 110,562 |  | 113,532 |  | 16,838 |  | 989 |  | 10,477 |  | 30,036 |  | — |  | 424,755 |
Business Banking |  |  |  |  |  |  |  |  |
Performing | 257,368 |  | 107,984 |  | 144,689 |  | 113,820 |  | 81,195 |  | 311,673 |  | 108,202 |  | 1,122 |  | 1,126,052 |
Nonperforming | 41 |  | 64 |  | 287 |  | 1,408 |  | 694 |  | 7,062 |  | 28 |  | 57 |  | 9,641 |
Total Business Banking | 257,409 |  | 108,048 |  | 144,976 |  | 115,228 |  | 81,889 |  | 318,735 |  | 108,230 |  | 1,179 |  | 1,135,693 |
Consumer Real Estate |  |  |  |  |  |  |  |  |
Performing | 137,465 |  | 100,253 |  | 91,689 |  | 49,853 |  | 39,657 |  | 234,297 |  | 443,238 |  | 23,839 |  | 1,120,291 |
Nonperforming | — |  | 742 |  | 476 |  | 303 |  | 727 |  | 4,165 |  | 168 |  | 713 |  | 7,294 |
Total Consumer Real Estate | 137,465 |  | 100,995 |  | 92,165 |  | 50,156 |  | 40,384 |  | 238,462 |  | 443,406 |  | 24,552 |  | 1,127,585 |
Other Consumer |  |  |  |  |  |  |  |  |
Performing | 20,059 |  | 9,290 |  | 7,261 |  | 3,093 |  | 1,021 |  | 6,444 |  | 57,903 |  | 2,677 |  | 107,748 |
Nonperforming | — |  | 158 |  | — |  | — |  | — |  | — |  | — |  | — |  | 158 |
Total Other Consumer | 20,059 |  | 9,448 |  | 7,261 |  | 3,093 |  | 1,021 |  | 6,444 |  | 57,903 |  | 2,677 |  | 107,906 |
Performing | 1,380,089 |  | 771,819 |  | 940,641 |  | 602,938 |  | 421,125 |  | 1,564,501 |  | 1,224,949 |  | 27,638 |  | 6,933,699 |
Nonperforming | 41 |  | 964 |  | 20,430 |  | 4,032 |  | 10,599 |  | 27,478 |  | 1,976 |  | 770 |  | 66,291 |
Total Loan Balance | $ | 1,380,130 |  | $ | 772,783 |  | $ | 961,071 |  | $ | 606,970 |  | $ | 431,724 |  | $ | 1,591,979 |  | $ | 1,226,925 |  | $ | 28,408 |  | $ | 6,999,990 |
| December 31, 2020
(dollars in thousands) | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 and Prior | Revolving | Revolving-Term | Total
Commercial Real Estate |  |  |  |  |  |  |  |  |
Performing | $ | 334,086 |  | $ | 459,799 |  | $ | 417,944 |  | $ | 313,465 |  | $ | 394,972 |  | $ | 722,782 |  | $ | 47,830 |  | $ | — |  | $ | 2,690,879 |
Nonperforming | — |  | 16,404 |  | — |  | 6,675 |  | 20,212 |  | 57,778 |  | — |  | — |  | 101,070 |
Total Commercial Real Estate | 334,086 |  | 476,203 |  | 417,944 |  | 320,140 |  | 415,184 |  | 780,560 |  | 47,830 |  | — |  | 2,791,947 |
Commercial and Industrial |  |  |  |  |  |  |  |  |
Performing | 457,828 |  | 214,144 |  | 143,706 |  | 69,411 |  | 28,426 |  | 220,701 |  | 408,350 |  | — |  | 1,542,566 |
Nonperforming | — |  | 1,313 |  | 1,584 |  | 12,838 |  | 62 |  | 908 |  | 281 |  | — |  | 16,985 |
Total Commercial and Industrial | 457,828 |  | 215,457 |  | 145,290 |  | 82,249 |  | 28,488 |  | 221,609 |  | 408,631 |  | — |  | 1,559,552 |
Commercial Construction |  |  |  |  |  |  |  |  |
Performing | 132,813 |  | 230,907 |  | 63,535 |  | 2,921 |  | 6,346 |  | 16,393 |  | 12,778 |  | — |  | 465,692 |
Nonperforming | — |  | — |  | — |  | — |  | — |  | 384 |  | — |  | — |  | 384 |
Total Commercial Construction | 132,813 |  | 230,907 |  | 63,535 |  | 2,921 |  | 6,346 |  | 16,777 |  | 12,778 |  | — |  | 466,077 |
Business Banking |  |  |  |  |  |  |  |  |
Performing | 296,327 |  | 156,164 |  | 126,432 |  | 90,414 |  | 80,106 |  | 286,970 |  | 105,494 |  | 1,037 |  | 1,142,944 |
Nonperforming | 30 |  | 309 |  | 1,818 |  | 949 |  | 2,096 |  | 11,809 |  | 55 |  | 57 |  | 17,123 |
Total Business Banking | 296,357 |  | 156,473 |  | 128,250 |  | 91,363 |  | 82,202 |  | 298,779 |  | 105,549 |  | 1,094 |  | 1,160,067 |
Consumer Real Estate |  |  |  |  |  |  |  |  |
Performing | 120,736 |  | 122,315 |  | 69,225 |  | 63,647 |  | 74,690 |  | 245,331 |  | 438,702 |  | 21,572 |  | 1,156,216 |
Nonperforming | — |  | 229 |  | 706 |  | 1,486 |  | 1,564 |  | 5,716 |  | 318 |  | 1,096 |  | 11,116 |
Total Consumer Real Estate | 120,736 |  | 122,544 |  | 69,931 |  | 65,133 |  | 76,254 |  | 251,047 |  | 439,020 |  | 22,667 |  | 1,167,332 |
Other Consumer |  |  |  |  |  |  |  |  |
Performing | 18,864 |  | 13,162 |  | 6,784 |  | 3,395 |  | 2,082 |  | 3,958 |  | 27,391 |  | 5,153 |  | 80,789 |
Nonperforming | — |  | — |  | — |  | — |  | — |  | 96 |  | — |  | — |  | 96 |
Total Other Consumer | 18,864 |  | 13,162 |  | 6,784 |  | 3,395 |  | 2,082 |  | 4,054 |  | 27,391 |  | 5,153 |  | 80,885 |
Performing | 1,360,654 |  | 1,196,491 |  | 827,625 |  | 543,253 |  | 586,622 |  | 1,496,135 |  | 1,040,544 |  | 27,762 |  | 7,079,086 |
Nonperforming | 30 |  | 18,254 |  | 4,108 |  | 21,948 |  | 23,934 |  | 76,691 |  | 654 |  | 1,153 |  | 146,774 |
Total Loan Balance | $ | 1,360,684 |  | $ | 1,214,746 |  | $ | 831,734 |  | $ | 565,201 |  | $ | 610,556 |  | $ | 1,572,826 |  | $ | 1,041,199 |  | $ | 28,914 |  | $ | 7,225,860 |
The following tables present the age analysis of past due loans segregated by class of loans as of the dates presented:
| December 31, 2021(1)
(dollars in thousands) | Current |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  |  |  | Non- performing |  | Total Past Due Loans |  | Total Loans
Commercial real estate | $ | 2,659,040 |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | 31,488 |  |  | $ | 31,488 |  |  | $ | 2,690,528 |
Commercial and industrial | 1,497,755 |  |  | 529 |  |  | — |  |  |  |  | 15,239 |  |  | 15,768 |  |  | 1,513,523 |
Commercial construction | 421,834 |  |  | 450 |  |  | — |  |  |  |  | 2,471 |  |  | 2,921 |  |  | 424,755 |
Business banking | 1,124,748 |  |  | 813 |  |  | 491 |  |  |  |  | 9,641 |  |  | 10,945 |  |  | 1,135,693 |
Consumer real estate | 1,117,073 |  |  | 1,087 |  |  | 2,130 |  |  |  |  | 7,294 |  |  | 10,512 |  |  | 1,127,585 |
Other consumer | 107,492 |  |  | 206 |  |  | 50 |  |  |  |  | 158 |  |  | 414 |  |  | 107,906 |
Total | $ | 6,927,943 |  |  | $ | 3,085 |  |  | $ | 2,672 |  |  |  |  | $ | 66,291 |  |  | $ | 72,048 |  |  | $ | 6,999,990 |
(1) We had 8 loans that were modified totaling $28.8 million under the CARES Act at December 31, 2021 compared to 52 loans that were modified totaling $195.6 million at December 31, 2020. These customers were not considered past due as a result of their delayed payments. Upon exiting the loan modification deferral program, the measurement of loan delinquency will resume where it left off upon entry into the program. Due to the modification program, this delinquency table may not accurately reflect the credit risk associated with these loans.
| December 31, 2020(2)
(dollars in thousands) | Current |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90 Days + Past Due(1) |  | Non- performing |  | Total Past Due Loans |  | Total Loans
Commercial real estate | $ | 2,690,877 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 101,070 |  |  | $ | 101,070 |  |  | $ | 2,791,947 |
Commercial and industrial | 1,542,567 |  |  | — |  |  | — |  |  | — |  |  | 16,985 |  |  | 16,985 |  |  | 1,559,552 |
Commercial construction | 462,094 |  |  | 19 |  |  | 3,580 |  |  | — |  |  | 384 |  |  | 3,983 |  |  | 466,077 |
Business banking | 1,140,581 |  |  | 1,614 |  |  | 379 |  |  | 371 |  |  | 17,122 |  |  | 19,486 |  |  | 1,160,067 |
Consumer real estate | 1,153,028 |  |  | 1,087 |  |  | 1,968 |  |  | 132 |  |  | 11,117 |  |  | 14,304 |  |  | 1,167,332 |
Other consumer | 80,583 |  |  | 168 |  |  | 37 |  |  | — |  |  | 96 |  |  | 302 |  |  | 80,885 |
Total | $ | 7,069,730 |  |  | $ | 2,888 |  |  | $ | 5,965 |  |  | $ | 503 |  |  | $ | 146,774 |  |  | $ | 156,130 |  |  | $ | 7,225,860 |
(1) Represents acquired loans that were recorded at fair value at the acquisition date and remain performing at December 31, 2020. (2) We had 52 loans that were modified totaling $195.6 million at December 31, 2020. These customers were not considered past due as a result of their delayed payments. Upon exiting the loan modification deferral program, the measurement of loan delinquency will resume where it left off upon entry into the program. Due to the modification program, this delinquency table may not accurately reflect the credit risk associated with these loans. The following tables present loans on nonaccrual status and loans past due 90 days or more and still accruing by class of loan:
|  |  |  |  |  |  |  |  |  |  | December 31, 2021
| December 31, 2021 |  |  |  | For the twelve months ended
(dollars in thousands) | Beginning of Period Nonaccrual |  | End of Period Nonaccrual |  | Nonaccrual With No Related Allowance |  |  |  |  |  | Interest Income Recognized on Nonaccrual(1)
Commercial real estate | $ | 101,070 |  |  | $ | 31,488 |  |  | $ | 28,046 |  |  |  |  |  |  | $ | 158 |
Commercial and industrial | 16,985 |  |  | 15,239 |  |  | 5,707 |  |  |  |  |  |  | 74 |
Commercial construction | 384 |  |  | 2,471 |  |  | 2,020 |  |  |  |  |  |  | (28) |
Business banking | 17,122 |  |  | 9,641 |  |  | 1,696 |  |  |  |  |  |  | 427 |
Consumer real estate | 11,117 |  |  | 7,294 |  |  | — |  |  |  |  |  |  | 496 |
Other consumer | 96 |  |  | 158 |  |  | — |  |  |  |  |  |  | 1 |
Total | $ | 146,774 |  |  | $ | 66,291 |  |  | $ | 37,469 |  |  |  |  |  |  | $ | 1,128 |
(1) Represents only cash payments received and applied to interest on nonaccrual loans.
|  |  |  |  |  |  |  |  |  |  | December 31, 2020
| December 31, 2020 |  |  |  | For the twelve months ended
(dollars in thousands) | Beginning of Period Nonaccrual |  | End of Period Nonaccrual |  | Nonaccrual With No Related Allowance |  | Past Due 90+ Days Still Accruing |  |  |  | Interest Income Recognized on Nonaccrual(1)
Commercial real estate | $ | 25,356 |  |  | $ | 101,070 |  |  | $ | 60,401 |  |  | $ | — |  |  |  |  | $ | 22 |
Commercial and industrial | 10,911 |  |  | 16,985 |  |  | 6,436 |  |  | — |  |  |  |  | 101 |
Commercial construction | 737 |  |  | 384 |  |  | 285 |  |  | — |  |  |  |  | — |
Business banking | 9,863 |  |  | 17,122 |  |  | 3,890 |  |  | 371 |  |  |  |  | 275 |
Consumer real estate | 6,063 |  |  | 11,117 |  |  | 398 |  |  | 132 |  |  |  |  | 423 |
Other consumer | 1,127 |  |  | 96 |  |  | — |  |  | — |  |  |  |  | 4 |
Total | $ | 54,057 |  |  | $ | 146,774 |  |  | $ | 71,410 |  |  | $ | 503 |  |  |  |  | $ | 826 |
(1) Represents only cash payments received and applied to interest on nonaccrual loans. The following tables present collateral-dependent loans by class of loan:
| December 31, 2021
| Type of Collateral
(dollars in thousands) | Real Estate |  | Blanket Lien |  | Investment/Cash |  | Other
Commercial real estate | $ | 28,046 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Commercial and industrial | 259 |  |  | 4,905 |  |  | — |  |  | 10,473 |
Commercial construction | 4,210 |  |  | — |  |  | — |  |  | — |
Business banking | 910 |  |  | 1,636 |  |  | — |  |  | — |
Consumer real estate | 1,031 |  |  | — |  |  | — |  |  | — |
Total | $ | 34,456 |  |  | $ | 6,541 |  |  | $ | — |  |  | $ | 10,473 |
| December 31, 2020
| Type of Collateral
(dollars in thousands) | Real Estate |  | Blanket Lien |  | Investment/Cash |  | Other
Commercial real estate | $ | 100,450 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Commercial and industrial | 1,040 |  |  | 15,080 |  |  | — |  |  | — |
Commercial construction | 3,552 |  |  | — |  |  | — |  |  | — |
Business banking | 3,085 |  |  | 1,619 |  |  | — |  |  | 689 |
Consumer real estate | 398 |  |  | — |  |  | — |  |  | — |
Total | $ | 108,525 |  |  | $ | 16,699 |  |  | $ | — |  |  | $ | 689 |
The following tables present activity in the ACL for years ended:
| Twelve Months Ended December 31, 2021
(dollars in thousands) | Commercial Real Estate |  | Commercial and Industrial |  | Commercial Construction |  | Business Banking |  | Consumer Real Estate |  | Other Consumer |  | Total Loans
Allowance for credit losses on loans: |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of period | $ | 65,656 |  |  | $ | 16,100 |  |  | $ | 7,239 |  |  | $ | 15,917 |  |  | $ | 10,014 |  |  | $ | 2,686 |  |  | $ | 117,612 |
Provision for credit losses on loans(2) | (2,569) |  |  | 23,746 |  |  | (1,842) |  |  | (3,159) |  |  | (1,020) |  |  | 338 |  |  | 15,494 |
Charge-offs | (13,444) |  |  | (20,923) |  |  | (56) |  |  | (1,580) |  |  | (569) |  |  | (952) |  |  | (37,524) |
Recoveries | 1,057 |  |  | 804 |  |  | 14 |  |  | 160 |  |  | 308 |  |  | 651 |  |  | 2,994 |
Net (Charge-offs)/Recoveries | (12,387) |  |  | (20,119) |  |  | (42) |  |  | (1,420) |  |  | (261) |  |  | (301) |  |  | (34,530) |
Balance at End of Period | $ | 50,700 |  |  | $ | 19,727 |  |  | $ | 5,355 |  |  | $ | 11,338 |  |  | $ | 8,733 |  |  | $ | 2,723 |  |  | $ | 98,576 |
| Twelve Months Ended December 31, 2020
(dollars in thousands) | Commercial Real Estate |  | Commercial and Industrial (1) |  | Commercial Construction |  | Business Banking |  | Consumer Real Estate |  | Other Consumer |  | Total Loans
Allowance for credit losses on loans: |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of period | $ | 30,577 |  |  | $ | 15,681 |  |  | $ | 7,900 |  |  | $ | — |  |  | $ | 6,337 |  |  | $ | 1,729 |  |  | $ | 62,224 |
Impact of CECL adoption | 4,810 |  |  | 7,853 |  |  | (3,376) |  |  | 12,898 |  |  | 4,525 |  |  | 636 |  |  | 27,346 |
Provision for credit losses on loans(2) | 56,489 |  |  | 65,288 |  |  | 2,986 |  |  | 5,303 |  |  | (368) |  |  | 1,723 |  |  | 131,421 |
Charge-offs | (26,460) |  |  | (74,282) |  |  | (454) |  |  | (2,612) |  |  | (667) |  |  | (1,890) |  |  | (106,365) |
Recoveries | 240 |  |  | 1,560 |  |  | 183 |  |  | 328 |  |  | 187 |  |  | 488 |  |  | 2,986 |
Net (Charge-offs)/Recoveries | (26,220) |  |  | (72,722) |  |  | (271) |  |  | (2,284) |  |  | (480) |  |  | (1,402) |  |  | (103,379) |
Balance at End of Period | $ | 65,656 |  |  | $ | 16,100 |  |  | $ | 7,239 |  |  | $ | 15,917 |  |  | $ | 10,014 |  |  | $ | 2,686 |  |  | $ | 117,612 |
(1)During the three months ended June 30, 2020, we experienced a pre-tax loss of $58.7 million related to a customer fraud resulting from a check kiting scheme. (2)Excludes the provision for credit losses for unfunded commitments. The provision for credit losses, which includes a provision for losses on loans and on unfunded loan commitments, is a charge to earnings to maintain the ACL at a level consistent with management's assessment of expected losses in the loan portfolio at the balance sheet date. The provision for credit losses decreased $115.9 million to $15.5 million for 2021 compared to $131.4 million for 2020. The significant decrease in the provision for credit losses during 2021 was mainly due to the customer fraud in 2020 and an improved outlook for the economy and our loan portfolio. The C&I portfolio included $88.3 million of loans originated under the PPP at December 31, 2021 compared to $465.0 million at December 31, 2020. The loans are 100 percent guaranteed by the SBA, therefore, we have not assigned any ACL to these loans at December 31, 2021.

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