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Allowance for Loan Losses (Tables) | 9 Months Ended
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Sep. 30, 2021
Receivables [Abstract] |
Schedule of changes in allowance for loan losses | A summary of the changes in the ACL on loans during the nine months ended September 30, 2021 and 2020 is as follows:
| Nine Months Ended September 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 | (1,267) |  |  | (4,694) |
Recoveries of loans previously charged-off | 1,207 |  |  | 1,816 |
(Reversal of) provision for credit losses on loans | (21,808) |  |  | 38,225 |
Balance at the end of the year | $ | 48,317 |  |  | $ | 73,340 |
The following tables detail the activity in the ACL on loans disaggregated by segment and class for the three and nine months ended September 30, 2021 and 2020:
| Three Months Ended September 30, 2021
| Beginning Balance |  | Charge-offs |  | Recoveries |  | (Reversal of) Provision for Credit Losses |  | Ending Balance
| (In thousands)
Commercial business: |  |  |  |  |  |  |  |  |
Commercial and industrial | $ | 17,485 |  |  | $ | (743) |  |  | $ | 373 |  |  | $ | 1,531 |  |  | $ | 18,646 |
SBA PPP | — |  |  | — |  |  | — |  |  | — |  |  | — |
Owner-occupied CRE | 8,562 |  |  | — |  |  | 12 |  |  | (1,644) |  |  | 6,930 |
Non-owner occupied CRE | 10,630 |  |  | — |  |  | — |  |  | (1,133) |  |  | 9,497 |
Total commercial business | 36,677 |  |  | (743) |  |  | 385 |  |  | (1,246) |  |  | 35,073 |
Residential real estate | 1,153 |  |  | — |  |  | — |  |  | (67) |  |  | 1,086 |
Real estate construction and land development:
Residential | 1,636 |  |  | — |  |  | 8 |  |  | 136 |  |  | 1,780 |
Commercial and multifamily | 8,835 |  |  | — |  |  | — |  |  | (1,530) |  |  | 7,305 |
Total real estate construction and land development | 10,471 |  |  | — |  |  | 8 |  |  | (1,394) |  |  | 9,085 |
Consumer | 3,261 |  |  | (204) |  |  | 161 |  |  | (145) |  |  | 3,073 |
Total | $ | 51,562 |  |  | $ | (947) |  |  | $ | 554 |  |  | $ | (2,852) |  |  | $ | 48,317 |
| Nine Months Ended September 30, 2021
| Beginning Balance |  |  |  |  |  | Charge-offs |  | Recoveries |  | Reversal of Provision for Credit Losses |  | Ending Balance
| (In thousands)
Commercial business: |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial | $ | 30,010 |  |  |  |  |  |  | $ | (757) |  |  | $ | 710 |  |  | $ | (11,317) |  |  | $ | 18,646 |
SBA PPP | — |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  | — |
| Nine Months Ended September 30, 2021
| Beginning Balance |  |  |  |  |  | Charge-offs |  | Recoveries |  | Reversal of Provision for Credit Losses |  | Ending Balance
| (In thousands)
Owner-occupied CRE | 9,486 |  |  |  |  |  |  | — |  |  | 25 |  |  | (2,581) |  |  | 6,930 |
Non-owner occupied CRE | 10,112 |  |  |  |  |  |  | — |  |  | — |  |  | (615) |  |  | 9,497 |
Total commercial business | 49,608 |  |  |  |  |  |  | (757) |  |  | 735 |  |  | (14,513) |  |  | 35,073 |
Residential real estate | 1,591 |  |  |  |  |  |  | — |  |  | — |  |  | (505) |  |  | 1,086 |
Real estate construction and land development:
Residential | 1,951 |  |  |  |  |  |  | — |  |  | 28 |  |  | (199) |  |  | 1,780 |
Commercial and multifamily | 11,141 |  |  |  |  |  |  | (1) |  |  | — |  |  | (3,835) |  |  | 7,305 |
Total real estate construction and land development | 13,092 |  |  |  |  |  |  | (1) |  |  | 28 |  |  | (4,034) |  |  | 9,085 |
Consumer | 5,894 |  |  |  |  |  |  | (509) |  |  | 444 |  |  | (2,756) |  |  | 3,073 |
Total | $ | 70,185 |  |  |  |  |  |  | $ | (1,267) |  |  | $ | 1,207 |  |  | $ | (21,808) |  |  | $ | 48,317 |
| Three Months Ended September 30, 2020
| Beginning Balance |  |  |  |  |  | Charge-offs |  | Recoveries |  | Provision for (Reversal of Provision for) Credit Losses |  | Ending Balance
| (In thousands)
Commercial business: |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial | $ | 29,773 |  |  |  |  |  |  | $ | (507) |  |  | $ | 78 |  |  | $ | 1,815 |  |  | $ | 31,159 |
SBA PPP | — |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  | — |
Owner-occupied CRE | 10,003 |  |  |  |  |  |  | — |  |  | 2 |  |  | 3,027 |  |  | 13,032 |
Non-owner occupied CRE | 10,666 |  |  |  |  |  |  | — |  |  | — |  |  | (124) |  |  | 10,542 |
Total commercial business | 50,442 |  |  |  |  |  |  | (507) |  |  | 80 |  |  | 4,718 |  |  | 54,733 |
Residential real estate | 2,223 |  |  |  |  |  |  | — |  |  | — |  |  | (398) |  |  | 1,825 |
Real estate construction and land development:
Residential | 567 |  |  |  |  |  |  | — |  |  | 139 |  |  | (42) |  |  | 664 |
Commercial and multifamily | 8,557 |  |  |  |  |  |  | — |  |  | — |  |  | 70 |  |  | 8,627 |
Total real estate construction and land development | 9,124 |  |  |  |  |  |  | — |  |  | 139 |  |  | 28 |  |  | 9,291 |
Consumer | 9,712 |  |  |  |  |  |  | (335) |  |  | 142 |  |  | (2,028) |  |  | 7,491 |
Total | $ | 71,501 |  |  |  |  |  |  | $ | (842) |  |  | $ | 361 |  |  | $ | 2,320 |  |  | $ | 73,340 |
| Nine Months Ended September 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 |  |  | $ | (3,418) |  |  | $ | 1,204 |  |  | $ | 22,982 |  |  | $ | 31,159 |
SBA PPP | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Owner-occupied CRE | 4,512 |  |  | 452 |  |  | 4,964 |  |  | (135) |  |  | 16 |  |  | 8,187 |  |  | 13,032 |
Non-owner occupied CRE | 7,682 |  |  | (2,039) |  |  | 5,643 |  |  | — |  |  | — |  |  | 4,899 |  |  | 10,542 |
Total commercial business | 23,933 |  |  | (2,935) |  |  | 20,998 |  |  | (3,553) |  |  | 1,220 |  |  | 36,068 |  |  | 54,733 |
Residential real estate | 1,458 |  |  | 1,471 |  |  | 2,929 |  |  | — |  |  | 3 |  |  | (1,107) |  |  | 1,825 |
| Nine Months Ended September 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 |  |  | — |  |  | 160 |  |  | (380) |  |  | 664 |
Commercial and multifamily | 1,605 |  |  | 7,240 |  |  | 8,845 |  |  | — |  |  | — |  |  | (218) |  |  | 8,627 |
Total real estate construction and land development | 3,060 |  |  | 6,669 |  |  | 9,729 |  |  | — |  |  | 160 |  |  | (598) |  |  | 9,291 |
Consumer | 6,821 |  |  | (2,484) |  |  | 4,337 |  |  | (1,141) |  |  | 433 |  |  | 3,862 |  |  | 7,491 |
Unallocated | 899 |  |  | (899) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | 36,171 |  |  | $ | 1,822 |  |  | $ | 37,993 |  |  | $ | (4,694) |  |  | $ | 1,816 |  |  | $ | 38,225 |  |  | $ | 73,340 |

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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 + Details
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