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Loans and Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2021

Receivables [Abstract]

Schedule of loans, net of unamortized net deferred fees

Loans, net of unamortized net deferred fees, at March 31, 2021 (unaudited) and December 31, 2020 are summarized by type as follows:

						March 31, 2021															December 31, 2020
(dollars in thousands)						Amount									%						Amount						%
Commercial						$	1,398,155								19		%				$	1,437,433					19		%
PPP loans						565,018									8		%				454,771						6		%
Income producing - commercial real estate						3,430,077									45		%				3,687,000						47		%
Owner occupied - commercial real estate						1,012,457									13		%				997,694						13		%
Real estate mortgage - residential						71,209									1		%				76,592						1		%
Construction - commercial and residential						829,481									11		%				873,261						11		%
Construction - C&I (owner occupied)						152,240									2		%				158,905						2		%
Home equity						67,167									1		%				73,167						1		%
Other consumer						885									—						1,389						—
Total loans						7,526,689									100		%				7,760,212						100		%
Less: allowance for credit losses						(102,070)															(109,579)
Net loans (1)						$	7,424,619														$	7,650,633

________________________________________

(1)Excludes accrued interest receivable of $46.4 million and $46.0 million at March 31, 2021 and December 31, 2020, respectively, which is recorded in other assets.

Schedule of detail activity in the allowance for credit losses by portfolio segment

he following tables detail activity in the allowance for credit losses by portfolio segment for the three months ended March 31, 2021 and 2020. PPP loans are excluded from these tables since they do not carry an allowance for credit loss, as these loans are fully guaranteed as to principal and interest by the SBA, whose guarantee is backed by the full faith and credit of the U.S. Government. Allocation of a portion of the allowance to one category of loans does not restrict the use of the allowance to absorb losses in other categories.

												Income Producing -						Owner Occupied -						Real Estate						Construction -
												Commercial						Commercial						Mortgage -						Commercial and						Home						Other
(dollars in thousands)						Commercial						Real Estate						Real Estate						Residential						Residential						Equity						Consumer						Total
Three Months Ended March 31, 2021
Allowance for credit losses:
Balance at beginning of period						$	26,569					$	55,385					$	14,000					$	1,020					$	11,529					$	1,039					$	37					$	109,579
Loans charged-off						(4,150)						(1,000)						—						—						(206)						—						(1)						(5,357)
Recoveries of loans previously charged-off						96						—						—						—						—						—						13						109
Net loans (charged-off) recoveries						(4,054)						(1,000)						—						—						(206)						—						12						(5,248)
Provision for credit losses- loans						1,186						(2,875)						315						(101)						(640)						(132)						(14)						(2,261)
Ending balance						$	23,701					$	51,510					$	14,315					$	919					$	10,683					$	907					$	35					$	102,070
As of March 31, 2021
Allowance for credit losses:
Individually evaluated for impairment						$	5,365					$	5,734					$	1,076					$	330					$	—					$	—					$	—					$	12,505
Collectively evaluated for impairment						18,336						45,776						13,239						589						10,683						907						35						89,565
Ending balance						$	23,701					$	51,510					$	14,315					$	919					$	10,683					$	907					$	35					$	102,070
Three Months Ended March 31, 2020
Allowance for credit losses:
Balance at beginning of period, prior to adoption of ASC 326						$	18,832					$	29,265					$	5,838					$	1,557					$	17,485					$	656					$	25					$	73,658
Impact of adopting ASC 326						892						11,230						4,674						(301)						(6,143)						245						17						$	10,614
Loans charged-off						—						(550)						—						—						(1,768)						—						—						(2,318)
Recoveries of loans previously charged-off						69						—						—						—						—						—						3						72
Net loans (charged-off) recoveries						69						(550)						—						—						(1,768)						—						3						(2,246)
Provision for credit losses- loans						7,553						3,606						(645)						113						3,767						(83)						(1)						14,310
Ending balance						$	27,346					$	43,551					$	9,867					$	1,369					$	13,341					$	818					$	44					$	96,336
As of March 31, 2020
Allowance for credit losses:
Individually evaluated for impairment						$	7,239					$	1,903					$	375					$	657					$	1,554					$	105					$	—					$	11,833
Collectively evaluated for impairment						20,107						41,648						9,492						712						11,787						713						44						84,503
Ending balance						$	27,346					$	43,551					$	9,867					$	1,369					$	13,341					$	818					$	44					$	96,336

Schedule of amortized cost basis of collateral-dependent loans by class of loans

The following table presents the amortized cost basis of collateral-dependent loans by class of loans as of March 31, 2021 and December 31, 2020:

March 31, 2021

(dollars in thousands)						Business/Other Assets						Real Estate
Commercial						$	10,310					$	9,339
Income producing - commercial real estate						3,193						23,135
Owner occupied - commercial real estate						—						14,075
Real estate mortgage - residential						—						1,942
Construction - commercial and residential						—						196
Home equity						—						413
Other consumer						—						—
Total						$	13,503					$	49,100

December 31, 2020

(dollars in thousands)						Business/Other Assets						Real Estate
Commercial						$	11,326					$	4,026
Income producing - commercial real estate						3,193						15,686
Owner occupied - commercial real estate						—						23,159
Real estate mortgage - residential						—						2,932
Construction - commercial and residential						—						206
Home equity						—						415
Other consumer						—						—
Total						$	14,519					$	46,424

Schedule of the risk category of loans by class of loans

March 31, 2021 (dollars in thousands)						Prior						2017						2018						2019						2020						2021						Total
Commercial
Pass						413,814						221,839						217,567						155,489						181,351						75,196						1,265,256
Watch						35,974						23,444						19,089						7,171						10,930						—						96,608
Special Mention						1,403						—						3,366						3,980						899						—						9,648
Substandard						22,226						1,175						2,548						569						125						—						26,643
Total						473,417			—			246,458			—			242,570			—			167,209			—			193,305			—			75,196						1,398,155
PPP loans
Pass						—			—			—			—			—			—			—			—			387,765						177,253						565,018
Total						—			—			—			—			—			—			—			—			387,765						177,253						565,018
Income producing - commercial real estate
Pass						822,220						273,235						665,705						579,001						501,066						10,799						2,852,026
Watch						161,476						107,191						—						44,357						34,794						—						347,818
Special Mention						57,448						—						42,810						51,939						—						—						152,197
Substandard						63,990						—						8,504						5,542						—						—						78,036
Total						1,105,134			—			380,426			—			717,019			—			680,839			—			535,860			—			10,799						3,430,077
Owner occupied - commercial real estate
Pass						423,893						134,465						132,647						67,400						48,170						18,005						824,580
Watch						21,916						3,266						12,030						7,175						2,041						—						46,428
Special Mention						446						—						81,561						19,077						—						—						101,084
Substandard						26,528						1,908						1,993						9,936						—						—						40,365
Total						472,783			—			139,639			—			228,231			—			103,588			—			50,211			—			18,005						1,012,457
Real estate mortgage - residential
Pass						20,699						10,173						13,445						17,637						5,565						1,184						68,703
Watch						605						—						—						—						—						—						605
Substandard						1,901						—						—						—						—						—						1,901
Total						23,205			—			10,173			—			13,445			—			17,637			—			5,565			—			1,184						71,209
Construction - commercial and residential
Pass						73,112						233,218						230,716						108,156						107,338						15,504						768,044
Watch						270						56,309						4,662						—						—						—						61,241
Substandard						—						—						—						196						—						—						196
Total						73,382			—			289,527			—			235,378			—			108,352			—			107,338			—			15,504						829,481
Construction - C&I (owner occupied)																																										—
Pass						17,698						7,380						19,358						23,543						42,130						693						110,802
Watch						4,625						412						5,394						—						—						—						10,431
Special Mention						137						—						—						15,169						15,701						—						31,007
Total						22,460			—			7,792			—			24,752			—			38,712			—			57,831			—			693						152,240
Home Equity																																										—
Pass						33,548						6,850						6,631						3,704						11,675						2,910						65,318
Watch						1,436						—						—						—						—						—						1,436
Substandard						368						—						—						45						—						—						413
Total						35,352			—			6,850			—			6,631			—			3,749			—			11,675			—			2,910						67,167
Other Consumer																																										—
Pass						589						58						88						82						27						34						878
Substandard						7						—						—						—						—						—						7
Total						596			—			58			—			88			—			82			—			27			—			34						885
Total Recorded Investment						$	2,206,329		$	—		$	1,080,923		$	—		$	1,468,114		$	—		$	1,120,168		$	—		$	1,349,577		$	—		$	301,578					7,526,689

December 31, 2020 (dollars in thousands)						Prior						2016						2017						2018						2019						2020						Total
Commercial
Pass						323,660						111,886						249,541						211,551						164,166						227,095						1,287,899
Watch						31,903						5,315						19,145						21,013						7,740						7,979						93,095
Special Mention						4,969						1,692						8,969						3,385						5,599						2,169						26,783
Substandard						17,679						5,803						1,820						3,525						829						—						29,656
Total						378,211						124,696						279,475						239,474						178,334						237,243						1,437,433
PPP loans
Pass						—						—						—						—						—						454,771						454,771
Total						—						—						—						—						—						454,771						454,771
Income producing - commercial real estate																																										—
Pass						560,915						347,946						397,953						622,276						643,388						512,387						3,084,865
Watch						152,367						62,912						91,636						89,852						44,555						34,195						475,517
Special Mention						213						—						—						—						51,969						—						52,182
Substandard						58,555						800						4,656						4,883						5,542						—						74,436
Total						772,050						411,658						494,245						717,011						745,454						546,582						3,687,000
Owner occupied - commercial real estate
Pass						343,371						100,272						111,996						136,644						59,681						49,584						801,548
Watch						16,014						5,011						2,640						10,338						15,501						—						49,504
Special Mention						418						—						—						83,110						19,091						—						102,619
Substandard						28,228						784						1,908						2,048						10,151						904						44,023
Total						388,031						106,067						116,544						232,140						104,424						50,488						997,694
Real estate mortgage - residential
Pass						16,310						2,693						10,199						12,746						18,209						10,116						70,273
Watch						1,996						699						—						728						—						—						3,423
Substandard						1,198						1,698						—						—						—						—						2,896
Total						19,504						5,090						10,199						13,474						18,209						10,116						76,592
Construction - commercial and residential
Pass						21,290						60,486						266,788						297,480						105,679						71,297						823,020
Watch						929						—						42,751						3,448						—						—						47,128
Special Mention						12						—						—						2,895						—						—						2,907
Substandard						—						—						206						—						—						—						206
Total						22,231						60,486						309,745						303,823						105,679						71,297						873,261
Construction - C&I (owner occupied)
Pass						8,278						10,476						6,637						30,340						22,209						40,101						118,041
Watch						3,573						—						2,118						4,935						—						—						10,626
Special Mention						124						—						—						—						14,436						15,678						30,238
Total						11,975						10,476						8,755						35,275						36,645						55,779						158,905
Home Equity
Pass						33,226						4,493						8,227						7,827						4,224						12,924						70,921
Watch						1,596						—						—						—						—						—						1,596
Substandard						603						—						—						—						47						—						650
Total						35,425						4,493						8,227						7,827						4,271						12,924						73,167
Other Consumer
Pass						929						190						64						74						94						31						1,382
Substandard						7						—						—						—						—						—						7
Total						936						190						64						74						94						31						1,389
Total Recorded Investment						$	1,628,363					$	723,156					$	1,227,254					$	1,549,098					$	1,193,110					$	1,439,231					$	7,760,212

Schedule by class of loan, an aging analysis and the recorded investments in loans past due

The table presents, by class of loan, an aging analysis and the recorded investments in loans past due as of March 31, 2021 (unaudited) and December 31, 2020:

												Loans						Loans						Loans																		Total Recorded
						Current						30-59 Days						60-89 Days						90 Days or						Total Past												Investment in
(dollars in thousands)						Loans						Past Due						Past Due						More Past Due						Due Loans						Non-Accrual						Loans
March 31, 2021
Commercial						$	1,371,357					$	6,681					$	1,626					$	—					$	8,307					$	18,491					$	1,398,155
PPP loans						565,018						—						—						—						—						—						565,018
Income producing - commercial real estate						3,360,794						46,811						5,315						—						52,126						17,157						3,430,077
Owner occupied - commercial real estate						994,842						3,336						202						—						3,538						14,077						1,012,457
Real estate mortgage - residential						68,438						829						—						—						829						1,942						71,209
Construction - commercial and residential						825,823						3,462						—						—						3,462						196						829,481
Construction - C&I (owner occupied)						148,373						3,453						414						—						3,867						—						152,240
Home equity						66,488						197						69						—						266						413						67,167
Other consumer						885						—						—						—						—						—						885
Total						$	7,402,018					$	64,769					$	7,626					$	—					$	72,395					$	52,276					$	7,526,689
December 31, 2020
Commercial						$	1,394,244					$	6,411					$	21,426					$	—					$	27,837					$	15,352					$	1,437,433
PPP loans						454,771						—						—						—						—						—						454,771
Income producing - commercial real estate						3,616,207						—						51,913						—						51,913						18,880						3,687,000
Owner occupied - commercial real estate						960,364						10,630						3,542						—						14,172						23,158						997,694
Real estate mortgage – residential						72,231						1,430						—						—						1,430						2,931						76,592
Construction - commercial and residential						869,723						2,992						340						—						3,332						206						873,261
Construction- C&I (owner occupied)						158,905						—						—						—						—						—						158,905
Home equity						67,732						467						4,552						—						5,019						416						73,167
Other consumer						1,367						21						1						—						22						—						1,389
Total						$	7,595,544					$	21,951					$	81,774					$	—					$	103,725					$	60,943					$	7,760,212

Schedule of information related to nonaccrual loans by class

The following presents the nonaccrual loans as of March 31, 2021 (unaudited) and December 31, 2020:

						March 31, 2021
						Nonaccrual with						Nonaccrual with						Total
						No Allowance						an Allowance						Nonaccrual
(dollars in thousands)						for Credit Loss						for Credit Loss						Loans
Commercial						$	8,493					$	9,998					$	18,491
Income producing - commercial real estate						6,092						11,065						17,157
Owner occupied - commercial real estate						10,675						3,402						14,077
Real estate mortgage - residential						—						1,942						1,942
Construction - commercial and residential						196						—						196
Home equity						413						—						413
Total (1)(2)						$	25,869					$	26,407					$	52,276

						December 31, 2020
						Nonaccrual with						Nonaccrual with						Total
						No Allowance						an Allowance						Nonaccrual
(dollars in thousands)						for Credit Loss						for Credit Loss						Loans
Commercial						$	3,263					$	12,089					$	15,352
Income producing - commercial real estate						6,500						12,380						18,880
Owner occupied - commercial real estate						18,941						4,217						23,158
Real estate mortgage - residential						1,234						1,697						2,931
Construction - commercial and residential						—						206						206
Home equity						416						—						416
Total (1)(2)						$	30,354					$	30,589					$	60,943

(1)Excludes TDRs that were performing under their restructured terms totaling $10.3 million at March 31, 2021 and $10.5 million at December 31, 2020.

(2)Gross interest income of $0.8 million and $3.7 million would have been recorded for the three months ended March 31, 2021 and December 31, 2020, respectively, if nonaccrual loans shown above had been current and in accordance with their original terms, while no interest was actually recorded on such loans for the three months ended March 31, 2021 or 2020. See Note 1 to the Consolidated Financial Statements for a description of the Company’s policy for placing loans on nonaccrual status.

Schedule of loans modified in troubled debt restructurings

The following table presents by class, the recorded investment of loans modified in TDRs held by the Company for the periods ended March 31, 2021 and 2020.

						Three Months Ended March 31, 2021
																		Income						Owner
						Number												Producing -						Occupied -						Construction -
						of												Commercial						Commercial						Commercial
(dollars in thousands)						Contracts						Commercial						Real Estate						Real Estate						Real Estate						Total
Troubled debt restructurings
Restructured accruing						5						$	1,157					$	9,171					$	—					$	—					$	10,328
Restructured nonaccruing						3						101						6,342						—						—						6,443
Total						8						$	1,258					$	15,513					$	—					$	—					$	16,771
Specific allowance												$	547					$	2,976					$	—					$	—					$	3,523
Restructured and subsequently defaulted												$	101					$	6,342					$	—					$	—					$	6,443

						Three Months Ended March 31, 2020
																		Income						Owner
						Number												Producing -						Occupied -						Construction -
						of												Commercial						Commercial						Commercial
(dollars in thousands)						Contracts						Commercial						Real Estate						Real Estate						Real Estate						Total
Troubled debt restructurings
Restructured accruing						11						$	1,438					$	15,574					$	860					$	—					$	17,872
Restructured nonaccruing						2						137						—						2,370						—						2,507
Total						13						$	1,575					$	15,574					$	3,230					$	—					$	20,379
Specific allowance												$	—					$	1,007					$	—					$	—					$	1,007
Restructured and subsequently defaulted												$	—					$	—					$	—					$	—					$	—

X

- Definition

Tabular disclosure of financing receivables by amortized cost basis of collateral-dependent loans by class of loans.

+ References

No definition available.

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X

- Definition

Tabular disclosure of financing receivables by credit quality indicators , disaggregated by year of origin. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

+ References

No definition available.

+ Details

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X

- 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=121611835&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=121599337&loc=SL82919249-210447

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X

- Definition

Tabular disclosure of aging analysis for financing receivable.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919253-210447

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
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