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ALLOWANCE FOR CREDIT LOSSES AND RESERVE FOR OFF-BALANCE SHEET CREDIT EXPOSURES | 3 Months Ended
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Mar. 31, 2024
ALLOWANCE FOR LOAN AND LEASE LOSSES |
ALLOWANCE FOR CREDIT LOSSES AND RESERVE FOR OFF-BALANCE SHEET CREDIT EXPOSURES | 4. ALLOWANCE FOR CREDIT LOSSES AND RESERVE FOR OFF-BALANCE SHEET CREDIT EXPOSURES The following tables present by class, the activities in the ACL for loans during the periods presented:
(dollars in thousands) |  |  |  |  |  | Real Estate |  |  |  |  |  |
Three Months Ended March 31, 2024 |  |  |  |  |  | Commercial and Industrial |  | Construction |  | Residential Mortgage |  | Home Equity |  | Commercial Mortgage |  | Consumer |  |  |  | Total
Beginning balance |  |  |  |  |  | $ | 7,181 |  |  | $ | 4,004 |  |  | $ | 14,626 |  |  | $ | 3,501 |  |  | $ | 17,543 |  |  | $ | 17,079 |  |  |  |  | $ | 63,934 |
Provision (credit) for credit losses on loans |  |  |  |  |  | 419 |  |  | (385) |  |  | 1,392 |  |  | 226 |  |  | (539) |  |  | 3,008 |  |  |  |  | 4,121 |
Subtotal |  |  |  |  |  | 7,600 |  |  | 3,619 |  |  | 16,018 |  |  | 3,727 |  |  | 17,004 |  |  | 20,087 |  |  |  |  | 68,055 |
Charge-offs |  |  |  |  |  | (682) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (4,838) |  |  |  |  | (5,520) |
Recoveries |  |  |  |  |  | 90 |  |  | — |  |  | 8 |  |  | 6 |  |  | — |  |  | 893 |  |  |  |  | 997 |
Net (charge-offs) recoveries |  |  |  |  |  | (592) |  |  | — |  |  | 8 |  |  | 6 |  |  | — |  |  | (3,945) |  |  |  |  | (4,523) |
Ending balance |  |  |  |  |  | $ | 7,008 |  |  | $ | 3,619 |  |  | $ | 16,026 |  |  | $ | 3,733 |  |  | $ | 17,004 |  |  | $ | 16,142 |  |  |  |  | $ | 63,532 |
(dollars in thousands) |  |  |  |  |  | Real Estate |  |  |  |  |  |
Three Months Ended March 31, 2023 |  |  |  |  |  | Commercial and Industrial |  | Construction |  | Residential Mortgage |  | Home Equity |  | Commercial Mortgage |  | Consumer |  |  |  | Total
Beginning balance |  |  |  |  |  | $ | 6,824 |  |  | $ | 2,867 |  |  | $ | 11,804 |  |  | $ | 4,114 |  |  | $ | 17,902 |  |  | $ | 20,227 |  |  |  |  | $ | 63,738 |
Provision (credit) for credit losses on loans |  |  |  |  |  | 836 |  |  | 220 |  |  | (44) |  |  | (77) |  |  | (430) |  |  | 1,110 |  |  |  |  | 1,615 |
Subtotal |  |  |  |  |  | 7,660 |  |  | 3,087 |  |  | 11,760 |  |  | 4,037 |  |  | 17,472 |  |  | 21,337 |  |  |  |  | 65,353 |
Charge-offs |  |  |  |  |  | (779) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (2,686) |  |  |  |  | (3,465) |
Recoveries |  |  |  |  |  | 250 |  |  | — |  |  | 53 |  |  | — |  |  | — |  |  | 908 |  |  |  |  | 1,211 |
Net (charge-offs) recoveries |  |  |  |  |  | (529) |  |  | — |  |  | 53 |  |  | — |  |  | — |  |  | (1,778) |  |  |  |  | (2,254) |
Ending balance |  |  |  |  |  | $ | 7,131 |  |  | $ | 3,087 |  |  | $ | 11,813 |  |  | $ | 4,037 |  |  | $ | 17,472 |  |  | $ | 19,559 |  |  |  |  | $ | 63,099 |
In the three months ended March 31, 2024, we recorded a provision for credit losses of $3.9 million, which consisted of a provision for credit losses on loans of $4.1 million and a credit to the provision for credit losses on off-balance sheet credit exposures of $0.2 million. In the three months ended March 31, 2023, we recorded a provision for credit losses of $1.9 million, which consisted of a provision for credit losses on loans of $1.6 million and a provision for credit losses on off-balance sheet credit exposures of $0.3 million. The following table presents the activities in the reserve for off-balance sheet credit exposures, included in other liabilities, during the periods presented:
| Three Months Ended March 31, |  |
(dollars in thousands) | 2024 |  | 2023 |  |  |  |
Beginning balance | $ | 3,706 |  |  | $ | 3,243 |  |  |  |  |
(Credit) provision for off-balance sheet credit exposures | (185) |  |  | 237 |  |  |  |  |
Ending balance | $ | 3,521 |  |  | $ | 3,480 |  |  |  |  |

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- Definition The entire disclosure for allowance for credit losses. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 310 -Publisher FASB -URI https://asc.fasb.org//310/tableOfContent + Details
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