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Allowance for Credit Losses | 3 Months Ended
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Mar. 31, 2025
Allowance for Credit Losses |
Allowance for Credit Losses | Note 6 Allowance for Credit Losses ​ The tables below detail the Company’s allowance for credit losses as of the dates shown: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended March 31, 2025
​ | ​ | ​ | ​ | ​ | Non-owner | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | occupied | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | commercial | ​ | Residential | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Commercial | ​ | real estate | ​ | real estate | ​ | Consumer | ​ | Total
Beginning balance | ​ | $ | 48,552 | ​ | $ | 26,136 | ​ | $ | 19,426 | ​ | $ | 341 | ​ | $ | 94,455
Charge-offs | ​ | ​ | (13,569) | ​ | ​ | (1,467) | ​ | ​ | — | ​ | ​ | (215) | ​ | ​ | (15,251)
Recoveries | ​ | ​ | 56 | ​ | ​ | 17 | ​ | ​ | 28 | ​ | ​ | 37 | ​ | ​ | 138
Provision expense (release) for credit losses | ​ | ​ | 13,019 | ​ | ​ | (1,192) | ​ | ​ | (1,147) | ​ | ​ | 170 | ​ | ​ | 10,850
Ending balance | ​ | $ | 48,058 | ​ | $ | 23,494 | ​ | $ | 18,307 | ​ | $ | 333 | ​ | $ | 90,192
​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended March 31, 2024
​ | ​ | ​ | ​ | ​ | Non-owner | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | occupied | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | commercial | ​ | Residential | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Commercial | ​ | real estate | ​ | real estate | ​ | Consumer | ​ | Total
Beginning balance | ​ | $ | 45,304 | ​ | $ | 32,665 | ​ | $ | 19,550 | ​ | $ | 428 | ​ | $ | 97,947
Charge-offs | ​ | ​ | (24) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (254) | ​ | ​ | (278)
Recoveries | ​ | ​ | 116 | ​ | ​ | — | ​ | ​ | 6 | ​ | ​ | 66 | ​ | ​ | 188
Provision expense (release) for credit losses | ​ | ​ | 919 | ​ | ​ | (1,827) | ​ | ​ | 544 | ​ | ​ | 114 | ​ | ​ | (250)
Ending balance | ​ | $ | 46,315 | ​ | $ | 30,838 | ​ | $ | 20,100 | ​ | $ | 354 | ​ | $ | 97,607
​ In evaluating the loan portfolio for an appropriate ACL level, excluding loans evaluated individually, loans were grouped into segments based on broad characteristics such as primary use and underlying collateral. Within the segments, the portfolio was further disaggregated into classes of loans with similar attributes and risk characteristics for purposes of developing the underlying data used within the discounted cash flow model including, but not limited to, prepayment and recovery rates as well as loss rates tied to macro-economic conditions within management’s reasonable and supportable forecast. The ACL also includes subjective adjustments based upon qualitative risk factors including asset quality, loss trends, lending management, portfolio growth and loan review/internal audit results. ​ At March 31, 2025 and December 31, 2024, the allowance for credit losses totaled $90.2 million and $94.5 million, respectively. The decrease during the three months ended March 31, 2025 was primarily driven by the resolution of non-performing loans and changes in the CECL model’s underlying macro-economic forecast. During the three months ended March 31, 2025, the Company recorded provision expense for credit losses on funded loans and unfunded loan commitments totaling $10.2 million, primarily to cover a charge-off on one credit driven by suspected fraudulent activity by the borrower. The Company recorded zero provision expense for credit losses on funded loans and unfunded loan commitments during the first quarter of 2024. Net charge-offs on loans during the three months ended March 31, 2025 and 2024 totaled $15.1 million and $0.1 million, respectively. ​ The Company has elected to exclude AIR from the allowance for credit losses calculation. As of March 31, 2025 and December 31, 2024, AIR from loans totaled $44.3 million and $41.5 million, respectively.

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