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Commitments and Contingencies | 6 Months Ended
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Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | Commitments and Contingencies In the ordinary course of business, the Bank may enter into various types of transactions that include commitments to extend credit that are not included in its Condensed Consolidated Financial Statements. The Bank applies the same credit standards to these commitments as it uses in all its lending activities and has included these commitments in its lending risk evaluations. The majority of the commitments presented below are variable rate. Loan commitments can be either revolving or non-revolving. The Bank’s exposure to credit and market risk under commitments to extend credit is represented by the amount of these commitments. The following table presents outstanding commitments to extend credit, including letters of credit, at the dates indicated:
| June 30, 2021 |  | December 31, 2020
| (In thousands)
Commercial business: |  |  |
Commercial and industrial | $ | 572,214 |  |  | $ | 640,018 |
Owner-occupied CRE | 2,515 |  |  | 3,488 |
Non-owner occupied CRE | 7,811 |  |  | 18,396 |
Total commercial business | 582,540 |  |  | 661,902 |
Real estate construction and land development: |  |  |
Residential | 57,983 |  |  | 52,453 |
Commercial and multifamily | 135,028 |  |  | 127,821 |
Total real estate construction and land development | 193,011 |  |  | 180,274 |
Consumer | 267,272 |  |  | 263,249 |
Total outstanding commitments | $ | 1,042,823 |  |  | $ | 1,105,425 |
Upon CECL adoption, as described in Note (1) Description of Business, Basis of Presentation, Significant Accounting Policies and Recently Issued Accounting Pronouncements, the Bank recorded an increase in the beginning ACL on unfunded commitments of $3.7 million as of January 1, 2020, representing the change in methodology from an estimate of incurred losses at the balance sheet date, with an estimated probability of funding, to an estimate of credit losses on future utilization over the entire contractual period. The following table details the activity in the ACL on unfunded commitments during the periods indicated:
| Three Months Ended |  | Six months ended
| June 30, 2021 |  | June 30, 2020 |  | June 30, 2021 |  | June 30, 2020
| (In thousands)
Balance, beginning of period | $ | 3,617 |  |  | $ | 1,990 |  |  | $ | 4,681 |  |  | $ | 306 |
Impact of CECL Adoption | — |  |  | — |  |  | — |  |  | 3,702 |
Adjusted balance, beginning of period | 3,617 |  |  | 1,990 |  |  | 4,681 |  |  | 4,008 |
(Reversal of) provision for credit losses on unfunded commitments | (1,166) |  |  | 2,622 |  |  | (2,230) |  |  | 604 |
Balance, end of period | $ | 2,451 |  |  | $ | 4,612 |  |  | $ | 2,451 |  |  | $ | 4,612 |

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- Definition The entire disclosure for commitments and contingencies. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -URI http://asc.fasb.org/topic&trid=2127136 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -URI http://asc.fasb.org/topic&trid=2144648 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 954 -SubTopic 440 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6491277&loc=d3e6429-115629 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -SubTopic 10 -Section 50 -Paragraph 4 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123406679&loc=d3e25336-109308 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -SubTopic 10 -Section 50 -Paragraph 4 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123406679&loc=d3e25336-109308 + Details
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