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Allowance for Loan Losses (Tables)

6 Months Ended

Jun. 30, 2021

Receivables [Abstract]

Schedule of changes in allowance for loan losses

A summary of the changes in the ACL on loans during the six months ended June 30, 2021 and 2020 is as follows:

			Six Months Ended June 30,
			2021						2020
			(In thousands)
Balance at the beginning of the year			$	70,185					$	36,171
Impact of CECL Adoption			—						1,822
Balance at the beginning of the year, as adjusted			70,185						37,993
Charge-offs			(320)						(3,852)
Recoveries of loans previously charged-off			653						1,455
(Reversal of) provision for credit losses on loans			(18,956)						35,905
Balance at the end of the year			$	51,562					$	71,501

The following tables detail the activity in the ACL on loans disaggregated by segment and class for the three and six months ended June 30, 2021 and 2020:

			Three Months Ended June 30, 2021
			Beginning Balance						Charge-offs						Recoveries						Reversal of Provision for Credit Losses						Ending Balance
			(In thousands)
Commercial business:
Commercial and industrial			$	21,770					$	(13)					$	132					$	(4,404)					$	17,485
SBA PPP			—						—						—						—						—
Owner-occupied CRE			10,464						—						11						(1,913)						8,562
Non-owner occupied CRE			12,970						—						—						(2,340)						10,630
Total commercial business			45,204						(13)						143						(8,657)						36,677
Residential real estate			1,402						—						—						(249)						1,153
Real estate construction and land development:
Residential			2,048						—						4						(416)						1,636
Commercial and multifamily			11,223						—						—						(2,388)						8,835
Total real estate construction and land development			13,271						—						4						(2,804)						10,471
Consumer			4,348						(120)						144						(1,111)						3,261
Total			$	64,225					$	(133)					$	291					$	(12,821)					$	51,562

Six Months Ended June 30, 2021

Beginning Balance

Charge-offs

Recoveries

(Reversal of) Provision for Credit Losses

Ending Balance

(In thousands)

Commercial business:

			Six Months Ended June 30, 2021
			Beginning Balance																		Charge-offs						Recoveries						(Reversal of) Provision for Credit Losses						Ending Balance
			(In thousands)
Commercial and industrial			$	30,010																	$	(14)					$	337					$	(12,848)					$	17,485
SBA PPP			—																		—						—						—						—
Owner-occupied CRE			9,486																		—						13						(937)						8,562
Non-owner occupied CRE			10,112																		—						—						518						10,630
Total commercial business			49,608																		(14)						350						(13,267)						36,677
Residential real estate			1,591																		—						—						(438)						1,153
Real estate construction and land development:
Residential			1,951																		—						20						(335)						1,636
Commercial and multifamily			11,141																		(1)						—						(2,305)						8,835
Total real estate construction and land development			13,092																		(1)						20						(2,640)						10,471
Consumer			5,894																		(305)						283						(2,611)						3,261
Total			$	70,185																	$	(320)					$	653					$	(18,956)					$	51,562

			Three Months Ended June 30, 2020
			Beginning Balance																		Charge-offs						Recoveries						Provision for (Reversal of Provision for) Credit Losses						Ending Balance
			(In thousands)
Commercial business:
Commercial and industrial			$	13,900																	$	(1,824)					$	69					$	17,628					$	29,773
Owner-occupied CRE			6,216																		—						2						3,785						10,003
Non-owner occupied CRE			7,750																		—						—						2,916						10,666
Total commercial business			27,866																		(1,824)						71						24,329						50,442
Residential real estate			3,026																		—						—						(803)						2,223
Real estate construction and land development:
Residential			864																		—						7						(304)						567
Commercial and multifamily			11,444																		—						—						(2,887)						8,557
Total real estate construction and land development			12,308																		—						7						(3,191)						9,124
Consumer			4,340																		(431)						197						5,606						9,712
Total			$	47,540																	$	(2,255)					$	275					$	25,941					$	71,501

			Six Months Ended June 30, 2020
			Beginning Balance						Impact of CECL Adoption						Beginning Balance, as Adjusted						Charge-offs						Recoveries						Provision for (Reversal of Provision for) Credit Losses						Ending Balance
			(In thousands)
Commercial business:
Commercial and industrial			$	11,739					$	(1,348)					$	10,391					$	(2,911)					$	1,126					$	21,167					$	29,773
Owner-occupied CRE			4,512						452						4,964						(135)						14						5,160						10,003
Non-owner occupied CRE			7,682						(2,039)						5,643						—						—						5,023						10,666
Total commercial business			23,933						(2,935)						20,998						(3,046)						1,140						31,350						50,442
Residential real estate			1,458						1,471						2,929						—						3						(709)						2,223

			Six Months Ended June 30, 2020
			Beginning Balance						Impact of CECL Adoption						Beginning Balance, as Adjusted						Charge-offs						Recoveries						Provision for (Reversal of Provision for) Credit Losses						Ending Balance
			(In thousands)
Real estate construction and land development:
Residential			1,455						(571)						884						—						21						(338)						567
Commercial and multifamily			1,605						7,240						8,845						—						—						(288)						8,557
Total real estate construction and land development			3,060						6,669						9,729						—						21						(626)						9,124
Consumer			6,821						(2,484)						4,337						(806)						291						5,890						9,712
Unallocated			899						(899)						—						—						—						—						—
Total			$	36,171					$	1,822					$	37,993					$	(3,852)					$	1,455					$	35,905					$	71,501

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- Definition

Tabular disclosure of allowance for credit loss on financing receivable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11B
-URI http://asc.fasb.org/extlink&oid=123577603&loc=SL6953423-111524

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447

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X

- References

No definition available.

+ Details

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