ALLOWANCE FOR CREDIT LOSSES AND RESERVE FOR OFF-BALANCE SHEET CREDIT EXPOSURES

3 Months Ended

Mar. 31, 2024

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