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Loans and Allowance for Credit Losses | 12 Months Ended
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Dec. 31, 2024
Receivables [Abstract] |
LOANS AND ALLOWANCE FOR CREDIT LOSSES | LOANS AND ALLOWANCE FOR CREDIT LOSSES Loans and Loans Held for Sale Loans are presented net of unearned income. Unearned income consisted of net deferred loan fees and costs of $4.3 million at December 31, 2024 and $6.6 million at December 31, 2023 and a discount related to purchase accounting fair value adjustments of $2.5 million at December 31, 2024 and $3.1 million at December 31, 2023. The following table summarizes the composition of originated and acquired loans as of the dates presented:
(dollars in thousands) | December 31, 2024 |  | December 31, 2023
Commercial real estate | $ | 2,708,531 |  |  | $ | 2,659,135 |
Commercial and industrial | 1,351,637 |  |  | 1,436,183 |
Commercial construction | 341,266 |  |  | 350,583 |
Business banking | 1,303,258 |  |  | 1,360,765 |
Consumer real estate | 1,933,509 |  |  | 1,731,778 |
Other consumer | 104,757 |  |  | 114,897 |
Total Portfolio Loans | $ | 7,742,958 |  |  | $ | 7,653,341 |
Loans held for sale | — |  |  | 153 |
Total Loans(1) | $ | 7,742,958 |  |  | $ | 7,653,494 |
(1) Excludes interest receivable of $32.7 million at December 31, 2024 and $35.3 million at December 31, 2023. Interest receivable is included in other assets in the Consolidated Balance Sheets. Modifications to Borrowers Experiencing Financial Difficulty The following tables present the amortized cost of loans to borrowers experiencing financial difficulty by portfolio segment and type of modification during the periods presented:
| Twelve Months Ended December 31, 2024
(dollars in thousands) | Term Extension |  |  | Payment Delays (Other Than Insignificant) |  | Term Extension and Payment Delays | Total | % of Portfolio Segment
Commercial real estate | $ | 3,004 |  |  |  | $ | — |  |  | $ | 685 |  | $ | 3,689 |  | 0.14 | %
Commercial and industrial | 9,437 |  |  |  | 12,264 |  |  | — |  | 21,701 |  | 1.61 | %
Consumer real estate | 493 |  |  |  | — |  |  | — |  | 493 |  | 0.03 | %
Total(1) | $ | 12,934 |  |  |  | $ | 12,264 |  |  | $ | 685 |  | $ | 25,883 |  | 0.33 | %
| Twelve Months Ended December 31, 2023
(dollars in thousands) | Term Extension |  |  | Payment Delays (Other Than Insignificant) |  | Term Extension and Interest Rate Reduction | Total | % of Portfolio Segment
Commercial real estate | $ | 13,836 |  |  |  | $ | — |  |  | $ | — |  | $ | 13,836 |  | 0.52 | %
Commercial and industrial | 16,877 |  |  |  | — |  |  | — |  | 16,877 |  | 1.18 | %
Business banking | 120 |  |  |  | — |  |  | — |  | 120 |  | 0.01 | %
Consumer real estate | 61 |  |  |  | — |  |  | 189 |  | 250 |  | 0.01 | %
Total(1) | $ | 30,894 |  |  |  | $ | — |  |  | $ | 189 |  | $ | 31,083 |  | 0.41 | %
The following tables describe the effect of loan modifications made to borrowers experiencing financial difficulty during the periods presented:
|  |  |  |  | Twelve Months Ended December 31, 2024
|  |  |  |  |  |  |  |  |  | Weighted-Average Term Extension (in months) |  |  |  |  | Weighted-Average Payment Delays (in months) |  | Weighted-Average Term Extension (in months) and Payment Delays |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  | 1 |  |  |  |  | — |  | 22 |
Commercial and industrial |  |  |  |  |  |  |  |  |  |  |  |  |  | 10 |  |  |  |  | 6 |  | — |
Consumer real estate |  |  |  |  |  |  |  |  |  |  |  |  |  | 101 |  |  |  |  | — |  | — |
|  |  |  | Twelve Months Ended December 31, 2023
|  |  |  |  |  |  |  |  |  | Weighted-Average Term Extension (in months) |  | Weighted-Average Interest Rate Reduction |  |  |  |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  | 4 |  |  | — |  |  |  |
Commercial and industrial |  |  |  |  |  |  |  |  |  |  |  |  | 5 |  |  | — |  |  |  |
Business banking |  |  |  |  |  |  |  |  |  |  |  |  | 19 |  |  | — |  |  |  |
Consumer real estate |  |  |  |  |  |  |  |  |  |  |  |  | 168 |  |  | 2% |  |  |  |
We closely monitor the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of the modification efforts. The following tables present the aging analysis of modifications in the last 12 months to borrowers experiencing financial difficulty as of the dates presented:
| December 31, 2024
(dollars in thousands) | Current |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90+ Days Past Due |  | Total
Commercial real estate | $ | 3,689 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 3,689 |
Commercial and industrial | 14,226 |  |  | 7,475 |  |  | — |  |  | — |  |  | 21,701 |
Consumer real estate | 347 |  |  | — |  |  | 40 |  |  | 106 |  |  | 493 |
Total | $ | 18,262 |  |  | $ | 7,475 |  |  | $ | 40 |  |  | $ | 106 |  |  | $ | 25,883 |
| December 31, 2023
(dollars in thousands) | Current |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90+ Days Past Due |  |  |  | Total
Commercial real estate | $ | 13,836 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | 13,836 |
Commercial and industrial | 16,468 |  |  | — |  |  | — |  |  | 409 |  |  |  |  | 16,877 |
Business banking | 120 |  |  | — |  |  | — |  |  | — |  |  |  |  | 120 |
Consumer real estate | 250 |  |  | — |  |  | — |  |  | — |  |  |  |  | 250 |
Total | $ | 30,674 |  |  | $ | — |  |  | $ | — |  |  | $ | 409 |  |  |  |  | $ | 31,083 |
A payment default is defined as a loan having a payment past due 90 days or more. There was one payment default for $0.1 million during the twelve months ended December 31, 2024 compared to none in the same period in 2023 related to loans that were modified within the 12 months prior to default. Additionally, we had five commitments to lend an additional $0.8 million to borrowers experiencing financial difficulty that had a modification during the twelve months ended December 31, 2024 and three commitments to lend an additional $1.6 million to borrowers experiencing financial difficulty that had a modification during the same period in 2023. The effect of modifications made to borrowers experiencing financial difficulty is already included in the ACL because of the measurement methodologies used to estimate the ACL, therefore, a change to the ACL is generally not recorded upon modification. If principal forgiveness is provided, that portion of the loan will be charged-off, resulting in a reduction of the amortized cost basis and a corresponding adjustment to the ACL. An assessment of whether the borrower is experiencing financial difficulty is made on the date of a modification. The following table is a summary of nonperforming assets as of the dates presented:
| Nonperforming Assets
(dollars in thousands) | December 31, 2024 |  | December 31, 2023
Nonperforming Assets |  |  |  |  |
Nonaccrual Loans |  | $ | 27,937 |  |  |  | $ | 22,947 |
OREO |  | 8 |  |  |  | 75 |
Total Nonperforming Assets |  | $ | 27,945 |  |  |  | $ | 23,022 |
The following table presents a summary of the aggregate amount of loans to certain officers and directors of S&T or any affiliates of such persons as of the dates presented:
| December 31,
(dollars in thousands) | 2024 |  | 2023
Balance at beginning of year | $ | 4,183 |  |  | $ | 4,128 |
New loans | 1,484 |  |  | 936 |
Repayments or no longer considered a related party | (2,107) |  |  | (881) |
Balance at End of Year | $ | 3,560 |  |  | $ | 4,183 |
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. Operations of the individual projects and global cash flows of the debtors are the primary sources of repayment for these loans. 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. Cash flow from the operations of the company is the primary source of repayment for these loans. 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 these loans are generally confined to the construction/development 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 purpose 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 1-4 family residential mortgages, home equity loans and home equity lines of credit. 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 of credit. 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 and business banking 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, 2024
| Risk Rating
(dollars in thousands) | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 and Prior | Revolving | Revolving-Term | Total
Commercial Real Estate |  |  |  |  |  |  |  |  |
Pass | $ | 278,187 |  | $ | 287,081 |  | $ | 362,174 |  | $ | 413,781 |  | $ | 213,384 |  | $ | 1,040,703 |  | $ | 35,737 |  | $ | — |  | $ | 2,631,047 |
Special mention | — |  | 2,000 |  | 370 |  | 1,840 |  | — |  | 46,104 |  | 254 |  | — |  | 50,568 |
Substandard | — |  | — |  | 985 |  | — |  | 1,834 |  | 23,683 |  | — |  | — |  | 26,502 |
Doubtful | — |  | — |  | — |  | — |  | 414 |  | — |  | — |  | — |  | 414 |
Total Commercial Real Estate | 278,187 |  | 289,081 |  | 363,529 |  | 415,621 |  | 215,632 |  | 1,110,490 |  | 35,991 |  | — |  | 2,708,531 |
Year-to-date Gross Charge-offs | — |  | — |  | — |  | — |  | — |  | 5,205 |  | — |  | — |  | 5,205 |
Commercial and Industrial |  |  |  |  |  |  |  |  |
Pass | 119,580 |  | 147,007 |  | 194,363 |  | 131,877 |  | 30,093 |  | 175,359 |  | 466,640 |  | — |  | 1,264,919 |
Special mention | — |  | 20 |  | 1,221 |  | 142 |  | 10 |  | 14,896 |  | 11,033 |  | — |  | 27,322 |
Substandard | 563 |  | 1,073 |  | 172 |  | 20,586 |  | 740 |  | 7,171 |  | 25,355 |  | — |  | 55,660 |
Doubtful | — |  | — |  | — |  | 366 |  | 469 |  | — |  | 2,901 |  | — |  | 3,736 |
Total Commercial and Industrial | 120,143 |  | 148,100 |  | 195,756 |  | 152,971 |  | 31,312 |  | 197,426 |  | 505,929 |  | — |  | 1,351,637 |
Year-to-date Gross Charge-offs | — |  | 78 |  | — |  | 1,235 |  | — |  | 91 |  | 1,032 |  | — |  | 2,436 |
Commercial Construction |  |  |  |  |  |  |  |  |
Pass | 119,355 |  | 121,816 |  | 57,853 |  | 14,911 |  | 884 |  | 2,139 |  | 8,310 |  | — |  | 325,268 |
Special mention | — |  | — |  | 15,998 |  | — |  | — |  | — |  | — |  | — |  | 15,998 |
Substandard | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Doubtful | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Commercial Construction | 119,355 |  | 121,816 |  | 73,851 |  | 14,911 |  | 884 |  | 2,139 |  | 8,310 |  | — |  | 341,266 |
Year-to-date Gross Charge-offs | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Business Banking |  |  |  |  |  |  |  |  |
Pass | 149,603 |  | 230,784 |  | 225,318 |  | 173,763 |  | 76,087 |  | 332,707 |  | 92,756 |  | 597 |  | 1,281,615 |
Special mention | — |  | — |  | 49 |  | 130 |  | 147 |  | 4,302 |  | 35 |  | 268 |  | 4,931 |
Substandard | 21 |  | 2,257 |  | 1,287 |  | 3,790 |  | 409 |  | 8,318 |  | 190 |  | 440 |  | 16,712 |
Doubtful | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Business Banking | 149,624 |  | 233,041 |  | 226,654 |  | 177,683 |  | 76,643 |  | 345,327 |  | 92,981 |  | 1,305 |  | 1,303,258 |
Year-to-date Gross Charge-offs | — |  | 79 |  | 124 |  | — |  | 56 |  | 1,486 |  | — |  | — |  | 1,745 |
Consumer Real Estate |  |  |  |  |  |  |  |  |
Pass | 217,250 |  | 334,532 |  | 324,346 |  | 133,155 |  | 95,301 |  | 223,799 |  | 569,386 |  | 24,940 |  | 1,922,709 |
Special mention | — |  | — |  | — |  | — |  | — |  | 99 |  | — |  | — |  | 99 |
Substandard | — |  | 1,231 |  | 43 |  | 192 |  | 203 |  | 5,564 |  | 1,172 |  | 2,296 |  | 10,701 |
Doubtful | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Consumer Real Estate | 217,250 |  | 335,763 |  | 324,389 |  | 133,347 |  | 95,504 |  | 229,462 |  | 570,558 |  | 27,236 |  | 1,933,509 |
Year-to-date Gross Charge-offs | — |  | — |  | — |  | — |  | 9 |  | 37 |  | 86 |  | 1,216 |  | 1,348 |
Other Consumer |  |  |  |  |  |  |  |  |
Pass | 8,456 |  | 6,849 |  | 7,349 |  | 3,228 |  | 1,758 |  | 468 |  | 71,039 |  | 5,425 |  | 104,572 |
Special mention | — |  | — |  | — |  | — |  |  | — |  | — |  |  | — |
Substandard | — |  | — |  | — |  | 21 |  | 10 |  | 150 |  | — |  | 4 |  | 185 |
Doubtful | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Other Consumer | 8,456 |  | 6,849 |  | 7,349 |  | 3,249 |  | 1,768 |  | 618 |  | 71,039 |  | 5,429 |  | 104,757 |
Year-to-date Gross Charge-offs | 839 |  | 34 |  | 164 |  | 103 |  | 26 |  | 18 |  | — |  | 270 |  | 1,454 |
Pass | 892,431 |  | 1,128,069 |  | 1,171,403 |  | 870,715 |  | 417,507 |  | 1,775,175 |  | 1,243,868 |  | 30,962 |  | 7,530,130 |
Special mention | — |  | 2,020 |  | 17,638 |  | 2,112 |  | 157 |  | 65,401 |  | 11,322 |  | 268 |  | 98,918 |
Substandard | 584 |  | 4,561 |  | 2,487 |  | 24,589 |  | 3,196 |  | 44,886 |  | 26,717 |  | 2,740 |  | 109,760 |
Doubtful | — |  | — |  | — |  | 366 |  | 883 |  | — |  | 2,901 |  | — |  | 4,150 |
Total Loan Balance | $ | 893,015 |  | $ | 1,134,650 |  | $ | 1,191,528 |  | $ | 897,782 |  | $ | 421,743 |  | $ | 1,885,462 |  | $ | 1,284,808 |  | $ | 33,970 |  | $ | 7,742,958 |
Year-to-date Gross Charge-offs | $ | 839 |  | $ | 191 |  | $ | 288 |  | $ | 1,338 |  | $ | 91 |  | $ | 6,837 |  | $ | 1,118 |  | $ | 1,486 |  | $ | 12,188 |
| December 31, 2023
| Risk Rating
(dollars in thousands) | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 and Prior | Revolving | Revolving-Term | Total
Commercial Real Estate |  |  |  |  |  |  |  |  |
Pass | $ | 276,677 |  | $ | 323,463 |  | $ | 433,308 |  | $ | 237,901 |  | $ | 383,799 |  | $ | 781,465 |  | $ | 32,418 |  | $ | — |  | $ | 2,469,031 |
Special mention | — |  | 1,006 |  | 6,000 |  | — |  | 24,887 |  | 75,428 |  | — |  | — |  | 107,321 |
Substandard | — |  | — |  | — |  | 2,355 |  | 10,685 |  | 69,743 |  | — |  | — |  | 82,783 |
Doubtful | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Commercial Real Estate | 276,677 |  | 324,469 |  | 439,308 |  | 240,256 |  | 419,371 |  | 926,636 |  | 32,418 |  | — |  | 2,659,135 |
Year-to-date Gross Charge-offs | — |  | — |  | — |  | — |  | — |  | 1,706 |  | — |  | — |  | 1,706 |
Commercial and Industrial |  |  |  |  |  |  |  |  |
Pass | 171,672 |  | 231,114 |  | 185,884 |  | 53,101 |  | 47,063 |  | 183,165 |  | 482,490 |  | — |  | 1,354,489 |
Special mention | 189 |  | 620 |  | 10,242 |  | — |  | — |  | 8,848 |  | 4,126 |  | — |  | 24,025 |
Substandard | — |  | 244 |  | 14,510 |  | 1,595 |  | 5,795 |  | 1,892 |  | 33,633 |  | — |  | 57,669 |
Doubtful | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Commercial and Industrial | 171,861 |  | 231,978 |  | 210,636 |  | 54,696 |  | 52,858 |  | 193,905 |  | 520,249 |  | — |  | 1,436,183 |
Year-to-date Gross Charge-offs | — |  | — |  | — |  | — |  | 3,412 |  | 15,842 |  | — |  | — |  | 19,254 |
Commercial Construction |  |  |  |  |  |  |  |  |
Pass | 75,596 |  | 154,456 |  | 82,313 |  | 14,845 |  | 151 |  | 4,054 |  | 14,208 |  | — |  | 345,623 |
Special mention | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Substandard | — |  | — |  | — |  | — |  | 4,576 |  | 384 |  | — |  | — |  | 4,960 |
Doubtful | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Commercial Construction | 75,596 |  | 154,456 |  | 82,313 |  | 14,845 |  | 4,727 |  | 4,438 |  | 14,208 |  | — |  | 350,583 |
Year-to-date Gross Charge-offs | — |  | — |  | — |  | — |  | 451 |  | — |  | — |  | — |  | 451 |
Business Banking |  |  |  |  |  |  |  |  |
Pass | 270,129 |  | 262,535 |  | 204,874 |  | 87,346 |  | 96,371 |  | 321,360 |  | 96,618 |  | 523 |  | 1,339,756 |
Special mention | — |  | 55 |  | 251 |  | 224 |  | 33 |  | 3,508 |  | 37 |  | 172 |  | 4,280 |
Substandard | — |  | 16 |  | 2,486 |  | 448 |  | 3,170 |  | 9,898 |  | 99 |  | 612 |  | 16,729 |
Doubtful | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Business Banking | 270,129 |  | 262,606 |  | 207,611 |  | 88,018 |  | 99,574 |  | 334,766 |  | 96,754 |  | 1,307 |  | 1,360,765 |
Year-to-date Gross Charge-offs | — |  | 67 |  | 43 |  | 1 |  | 88 |  | 1,073 |  | 34 |  | — |  | 1,306 |
Consumer Real Estate |  |  |  |  |  |  |  |  |
Pass | 311,887 |  | 334,879 |  | 147,652 |  | 101,999 |  | 67,402 |  | 183,283 |  | 551,368 |  | 22,206 |  | 1,720,676 |
Special mention | — |  | — |  | — |  | — |  | — |  | 189 |  | — |  | — |  | 189 |
Substandard | — |  | 583 |  | 198 |  | 42 |  | 488 |  | 6,322 |  | 712 |  | 2,568 |  | 10,913 |
Doubtful | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Consumer Real Estate | 311,887 |  | 335,462 |  | 147,850 |  | 102,041 |  | 67,890 |  | 189,794 |  | 552,080 |  | 24,774 |  | 1,731,778 |
Year-to-date Gross Charge-offs | — |  | 1 |  | — |  | 5 |  | 1 |  | 43 |  | 75 |  | 296 |  | 421 |
Other Consumer |  |  |  |  |  |  |  |  |
Pass | 11,286 |  | 11,965 |  | 6,483 |  | 3,842 |  | 1,062 |  | 526 |  | 76,426 |  | 3,109 |  | 114,699 |
Special mention | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Substandard | — |  | — |  | 24 |  | 5 |  | 20 |  | 146 |  | — |  | 3 |  | 198 |
Doubtful | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Other Consumer | 11,286 |  | 11,965 |  | 6,507 |  | 3,847 |  | 1,082 |  | 672 |  | 76,426 |  | 3,112 |  | 114,897 |
Year-to-date Gross Charge-offs | 830 |  | 146 |  | 175 |  | 19 |  | 37 |  | 5 |  | — |  | 288 |  | 1,500 |
Pass | 1,117,247 |  | 1,318,412 |  | 1,060,514 |  | 499,034 |  | 595,848 |  | 1,473,853 |  | 1,253,528 |  | 25,838 |  | 7,344,274 |
Special Mention | 189 |  | 1,681 |  | 16,493 |  | 224 |  | 24,920 |  | 87,973 |  | 4,163 |  | 172 |  | 135,815 |
Substandard | — |  | 843 |  | 17,218 |  | 4,445 |  | 24,734 |  | 88,385 |  | 34,444 |  | 3,183 |  | 173,252 |
Doubtful | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Loan Balance | $ | 1,117,436 |  | $ | 1,320,936 |  | $ | 1,094,225 |  | $ | 503,703 |  | $ | 645,502 |  | $ | 1,650,211 |  | $ | 1,292,135 |  | $ | 29,193 |  | $ | 7,653,341 |
Year-to-date Gross Charge-offs | $ | 830 |  | $ | 214 |  | $ | 218 |  | $ | 25 |  | $ | 3,989 |  | $ | 18,669 |  | $ | 109 |  | $ | 584 |  | $ | 24,638 |
We monitor the delinquent status of the commercial and consumer portfolios on a monthly basis. Loans are considered nonaccrual 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 nonaccrual loans. The following tables present loan balances by year of origination and accrual and nonaccrual status for our portfolio segments as of the dates presented:
| December 31, 2024
(dollars in thousands) | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 and Prior | Revolving | Revolving-Term | Total
Commercial Real Estate |  |  |  |  |  |  |  |  |
Accrual | $ | 278,187 |  | $ | 289,081 |  | $ | 362,544 |  | $ | 415,621 |  | $ | 214,589 |  | $ | 1,109,290 |  | $ | 35,991 |  | $ | — |  | $ | 2,705,303 |
Nonaccrual | — |  | — |  | 985 |  | — |  | 1,043 |  | 1,200 |  | — |  | — |  | 3,228 |
Total Commercial Real Estate | 278,187 |  | 289,081 |  | 363,529 |  | 415,621 |  | 215,632 |  | 1,110,490 |  | 35,991 |  | — |  | 2,708,531 |
Commercial and Industrial |  |  |  |  |  |  |  |  |
Accrual | 120,143 |  | 148,070 |  | 195,584 |  | 151,976 |  | 30,103 |  | 197,426 |  | 497,162 |  | — |  | 1,340,464 |
Nonaccrual | — |  | 30 |  | 172 |  | 995 |  | 1,209 |  | — |  | 8,767 |  | — |  | 11,173 |
Total Commercial and Industrial | 120,143 |  | 148,100 |  | 195,756 |  | 152,971 |  | 31,312 |  | 197,426 |  | 505,929 |  | — |  | 1,351,637 |
Commercial Construction |  |  |  |  |  |  |  |  |
Accrual | 119,355 |  | 121,816 |  | 73,851 |  | 14,911 |  | 884 |  | 2,139 |  | 8,310 |  | — |  | 341,266 |
Nonaccrual | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Commercial Construction | 119,355 |  | 121,816 |  | 73,851 |  | 14,911 |  | 884 |  | 2,139 |  | 8,310 |  | — |  | 341,266 |
Business Banking |  |  |  |  |  |  |  |  |
Accrual | 149,624 |  | 232,649 |  | 226,654 |  | 177,683 |  | 76,344 |  | 343,064 |  | 92,981 |  | 1,271 |  | 1,300,270 |
Nonaccrual | — |  | 392 |  | — |  | — |  | 299 |  | 2,263 |  | — |  | 34 |  | 2,988 |
Total Business Banking | 149,624 |  | 233,041 |  | 226,654 |  | 177,683 |  | 76,643 |  | 345,327 |  | 92,981 |  | 1,305 |  | 1,303,258 |
Consumer Real Estate |  |  |  |  |  |  |  |  |
Accrual | 217,250 |  | 333,279 |  | 324,389 |  | 133,224 |  | 94,971 |  | 225,225 |  | 569,423 |  | 25,430 |  | 1,923,191 |
Nonaccrual | — |  | 2,484 |  | — |  | 123 |  | 533 |  | 4,237 |  | 1,135 |  | 1,806 |  | 10,318 |
Total Consumer Real Estate | 217,250 |  | 335,763 |  | 324,389 |  | 133,347 |  | 95,504 |  | 229,462 |  | 570,558 |  | 27,236 |  | 1,933,509 |
Other Consumer |  |  |  |  |  |  |  |  |
Accrual | 8,456 |  | 6,849 |  | 7,349 |  | 3,246 |  | 1,683 |  | 476 |  | 71,039 |  | 5,429 |  | 104,527 |
Nonaccrual | — |  | — |  | — |  | 3 |  | 85 |  | 142 |  | — |  | — |  | 230 |
Total Other Consumer | 8,456 |  | 6,849 |  | 7,349 |  | 3,249 |  | 1,768 |  | 618 |  | 71,039 |  | 5,429 |  | 104,757 |
Accrual | 893,015 |  | 1,131,744 |  | 1,190,371 |  | 896,661 |  | 418,574 |  | 1,877,620 |  | 1,274,906 |  | 32,130 |  | 7,715,021 |
Nonaccrual | — |  | 2,906 |  | 1,157 |  | 1,121 |  | 3,169 |  | 7,842 |  | 9,902 |  | 1,840 |  | 27,937 |
Total Loan Balance | $ | 893,015 |  | $ | 1,134,650 |  | $ | 1,191,528 |  | $ | 897,782 |  | $ | 421,743 |  | $ | 1,885,462 |  | $ | 1,284,808 |  | $ | 33,970 |  | $ | 7,742,958 |
| December 31, 2023
(dollars in thousands) | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 and Prior | Revolving | Revolving-Term | Total
Commercial Real Estate |  |  |  |  |  |  |  |  |
Accrual | $ | 276,677 |  | $ | 324,469 |  | $ | 439,308 |  | $ | 240,256 |  | $ | 419,371 |  | $ | 920,316 |  | $ | 32,418 |  | $ | — |  | $ | 2,652,815 |
Nonaccrual | — |  | — |  | — |  | — |  | — |  | 6,320 |  | — |  | — |  | 6,320 |
Total Commercial Real Estate | 276,677 |  | 324,469 |  | 439,308 |  | 240,256 |  | 419,371 |  | 926,636 |  | 32,418 |  | — |  | 2,659,135 |
Commercial and Industrial |  |  |  |  |  |  |  |  |
Accrual | 171,861 |  | 231,978 |  | 210,636 |  | 54,696 |  | 52,858 |  | 193,257 |  | 520,019 |  | — |  | 1,435,305 |
Nonaccrual | — |  | — |  | — |  | — |  | — |  | 648 |  | 230 |  | — |  | 878 |
Total Commercial and Industrial | 171,861 |  | 231,978 |  | 210,636 |  | 54,696 |  | 52,858 |  | 193,905 |  | 520,249 |  | — |  | 1,436,183 |
Commercial Construction |  |  |  |  |  |  |  |  |
Accrual | 75,596 |  | 154,456 |  | 82,313 |  | 14,845 |  | 151 |  | 4,054 |  | 14,208 |  | — |  | 345,623 |
Nonaccrual | — |  | — |  | — |  | — |  | 4,576 |  | 384 |  | — |  | — |  | 4,960 |
Total Commercial Construction | 75,596 |  | 154,456 |  | 82,313 |  | 14,845 |  | 4,727 |  | 4,438 |  | 14,208 |  | — |  | 350,583 |
Business Banking |  |  |  |  |  |  |  |  |
Accrual | 270,129 |  | 262,606 |  | 207,611 |  | 87,979 |  | 99,354 |  | 330,902 |  | 96,754 |  | 1,283 |  | 1,356,618 |
Nonaccrual | — |  | — |  | — |  | 39 |  | 220 |  | 3,864 |  | — |  | 24 |  | 4,147 |
Total Business Banking | 270,129 |  | 262,606 |  | 207,611 |  | 88,018 |  | 99,574 |  | 334,766 |  | 96,754 |  | 1,307 |  | 1,360,765 |
Consumer Real Estate |  |  |  |  |  |  |  |  |
Accrual | 311,887 |  | 335,086 |  | 147,689 |  | 101,518 |  | 67,577 |  | 186,909 |  | 551,858 |  | 22,942 |  | 1,725,466 |
Nonaccrual | — |  | 376 |  | 161 |  | 523 |  | 313 |  | 2,885 |  | 222 |  | 1,832 |  | 6,312 |
Total Consumer Real Estate | 311,887 |  | 335,462 |  | 147,850 |  | 102,041 |  | 67,890 |  | 189,794 |  | 552,080 |  | 24,774 |  | 1,731,778 |
Other Consumer |  |  |  |  |  |  |  |  |
Accrual | 11,286 |  | 11,965 |  | 6,499 |  | 3,656 |  | 1,082 |  | 541 |  | 76,426 |  | 3,112 |  | 114,567 |
Nonaccrual | — |  | — |  | 8 |  | 191 |  | — |  | 131 |  | — |  | — |  | 330 |
Total Other Consumer | 11,286 |  | 11,965 |  | 6,507 |  | 3,847 |  | 1,082 |  | 672 |  | 76,426 |  | 3,112 |  | 114,897 |
Accrual | 1,117,436 |  | 1,320,560 |  | 1,094,056 |  | 502,950 |  | 640,393 |  | 1,635,979 |  | 1,291,683 |  | 27,337 |  | 7,630,394 |
Nonaccrual | — |  | 376 |  | 169 |  | 753 |  | 5,109 |  | 14,232 |  | 452 |  | 1,856 |  | 22,947 |
Total Loan Balance | $ | 1,117,436 |  | $ | 1,320,936 |  | $ | 1,094,225 |  | $ | 503,703 |  | $ | 645,502 |  | $ | 1,650,211 |  | $ | 1,292,135 |  | $ | 29,193 |  | $ | 7,653,341 |
The following tables present the age analysis of past due loans segregated by class of loans as of the dates presented:
| December 31, 2024
(dollars in thousands) | Current |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  |  |  |  |  | Nonaccrual |  | Total Past Due Loans |  | Total Loans
Commercial real estate | $ | 2,705,303 |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  | $ | 3,228 |  |  | $ | 3,228 |  |  | $ | 2,708,531 |
Commercial and industrial | 1,338,053 |  |  | 415 |  |  | 1,996 |  |  |  |  |  |  | 11,173 |  |  | 13,584 |  |  | 1,351,637 |
Commercial construction | 340,230 |  |  | — |  |  | 1,036 |  |  |  |  |  |  | — |  |  | 1,036 |  |  | 341,266 |
Business banking | 1,297,651 |  |  | 2,336 |  |  | 283 |  |  |  |  |  |  | 2,988 |  |  | 5,607 |  |  | 1,303,258 |
Consumer real estate | 1,918,150 |  |  | 2,464 |  |  | 2,577 |  |  |  |  |  |  | 10,318 |  |  | 15,359 |  |  | 1,933,509 |
Other consumer | 104,156 |  |  | 216 |  |  | 155 |  |  |  |  |  |  | 230 |  |  | 601 |  |  | 104,757 |
Total | $ | 7,703,543 |  |  | $ | 5,431 |  |  | $ | 6,047 |  |  |  |  |  |  | $ | 27,937 |  |  | $ | 39,415 |  |  | $ | 7,742,958 |
| December 31, 2023 |  |
(dollars in thousands) | Current |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  |  |  | Nonaccrual |  | Total Past Due Loans |  | Total Loans |  |
Commercial real estate | $ | 2,649,412 |  |  | $ | — |  |  | $ | 3,403 |  |  |  |  | $ | 6,320 |  |  | $ | 9,723 |  |  | $ | 2,659,135 |  |  |
Commercial and industrial | 1,435,301 |  |  | 4 |  |  | — |  |  |  |  | 878 |  |  | 882 |  |  | 1,436,183 |  |  |
Commercial construction | 345,623 |  |  | — |  |  | — |  |  |  |  | 4,960 |  |  | 4,960 |  |  | 350,583 |  |  |
Business banking | 1,351,048 |  |  | 3,525 |  |  | 2,045 |  |  |  |  | 4,147 |  |  | 9,717 |  |  | 1,360,765 |  |  |
Consumer real estate | 1,719,751 |  |  | 3,352 |  |  | 2,363 |  |  |  |  | 6,312 |  |  | 12,027 |  |  | 1,731,778 |  |  |
Other consumer | 114,138 |  |  | 366 |  |  | 63 |  |  |  |  | 330 |  |  | 759 |  |  | 114,897 |  |  |
Total | $ | 7,615,273 |  |  | $ | 7,247 |  |  | $ | 7,874 |  |  |  |  | $ | 22,947 |  |  | $ | 38,068 |  |  | $ | 7,653,341 |  |  |
The following tables present loans on nonaccrual status by class of loan for the year-to-date periods presented:
| December 31, 2024 |  |
(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 | $ | 6,320 |  |  | $ | 3,228 |  |  | $ | 984 |  |  |  |  |  |  | $ | 116 |  |  |
Commercial and industrial | 878 |  |  | 11,173 |  |  | 311 |  |  |  |  |  |  | 85 |  |  |
Commercial construction | 4,960 |  |  | — |  |  | — |  |  |  |  |  |  | 700 |  |  |
Business banking | 4,147 |  |  | 2,988 |  |  | — |  |  |  |  |  |  | 93 |  |  |
Consumer real estate | 6,312 |  |  | 10,318 |  |  | — |  |  |  |  |  |  | 392 |  |  |
Other consumer | 330 |  |  | 230 |  |  | — |  |  |  |  |  |  | 3 |  |  |
Total | $ | 22,947 |  |  | $ | 27,937 |  |  | $ | 1,295 |  |  |  |  |  |  | $ | 1,389 |  |  |
(1) Represents only cash payments received and applied to interest on nonaccrual loans.
| December 31, 2023
(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 | $ | 7,100 |  |  | $ | 6,320 |  |  | $ | 5,940 |  |  |  |  | $ | 46 |
Commercial and industrial | 283 |  |  | 878 |  |  | — |  |  |  |  | 38 |
Commercial construction | 384 |  |  | 4,960 |  |  | 4,576 |  |  |  |  | — |
Business banking | 4,490 |  |  | 4,147 |  |  | — |  |  |  |  | 209 |
Consumer real estate | 6,526 |  |  | 6,312 |  |  | — |  |  |  |  | 308 |
Other consumer | 269 |  |  | 330 |  |  | — |  |  |  |  | 2 |
Total | $ | 19,052 |  |  | $ | 22,947 |  |  | $ | 10,516 |  |  |  |  | $ | 603 |
(1) Represents only cash payments received and applied to interest on nonaccrual loans. The following tables present collateral-dependent loans as of the dates presented:
| December 31, 2024
| Type of Collateral
(dollars in thousands) | Real Estate |  | Business Assets |  |  |
Commercial real estate | $ | 2,028 |  | $ | — |  |  |
Commercial and industrial | — |  | 9,937 |  |  |
Total | $ | 2,028 |  | $ | 9,937 |  |  |
| December 31, 2023
| Type of Collateral
(dollars in thousands) | Real Estate |  | Business Assets |  |  |
Commercial real estate | $ | 5,940 |  | $ | — |  |  |
Commercial construction | 4,576 |  | — |  |  |
Total | $ | 10,516 |  | $ | — |  |  |
| Twelve Months Ended December 31, 2024
(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 | $ | 37,886 |  |  | $ | 34,538 |  |  | $ | 5,382 |  |  | $ | 12,858 |  |  | $ | 14,663 |  |  | $ | 2,639 |  |  | $ | 107,966 |
Provision for credit losses on loans(1) | (4,295) |  |  | 3,939 |  |  | (489) |  |  | (627) |  |  | 2,184 |  |  | 1,097 |  |  | 1,809 |
Charge-offs | (5,205) |  |  | (2,436) |  |  | — |  |  | (1,745) |  |  | (1,348) |  |  | (1,454) |  |  | (12,188) |
Recoveries | 1,868 |  |  | 1,043 |  |  | — |  |  | 195 |  |  | 277 |  |  | 524 |  |  | 3,907 |
Net (Charge-offs)/ Recoveries | (3,337) |  |  | (1,393) |  |  | — |  |  | (1,550) |  |  | (1,071) |  |  | (930) |  |  | (8,281) |
Balance at End of Period | $ | 30,254 |  |  | $ | 37,084 |  |  | $ | 4,893 |  |  | $ | 10,681 |  |  | $ | 15,776 |  |  | $ | 2,806 |  |  | $ | 101,494 |
(1) Excludes the provision for credits losses for unfunded commitments. |  |  |  |  |  |  |  |  |  |
| Twelve Months Ended December 31, 2023
(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 | $ | 41,428 |  |  | $ | 25,710 |  |  | $ | 6,264 |  |  | $ | 12,547 |  |  | $ | 12,105 |  |  | $ | 3,286 |  |  | $ | 101,340 |
Impact of ASU 2022-02 | — |  |  | 75 |  |  | 215 |  |  | 251 |  |  | 278 |  |  | (251) |  |  | 568 |
Provision for credit losses on loans(1) | (2,803) |  |  | 18,366 |  |  | (648) |  |  | 1,088 |  |  | 2,493 |  |  | 744 |  |  | 19,240 |
Charge-offs | (1,706) |  |  | (19,254) |  |  | (451) |  |  | (1,306) |  |  | (421) |  |  | (1,500) |  |  | (24,638) |
Recoveries | 967 |  |  | 9,641 |  |  | 2 |  |  | 278 |  |  | 208 |  |  | 360 |  |  | 11,456 |
Net (Charge-offs)/ Recoveries | (739) |  |  | (9,613) |  |  | (449) |  |  | (1,028) |  |  | (213) |  |  | (1,140) |  |  | (13,182) |
Balance at End of Period | $ | 37,886 |  |  | $ | 34,538 |  |  | $ | 5,382 |  |  | $ | 12,858 |  |  | $ | 14,663 |  |  | $ | 2,639 |  |  | $ | 107,966 |
(1) Excludes the provision for credits losses for unfunded commitments. |  |  |  |  |  |  |  |  |  |

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