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Loans and Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2022

Receivables [Abstract]

Schedule of loans, net of unamortized net deferred fees

Loans, net of unamortized net deferred fees, at March 31, 2022 and December 31, 2021 are summarized by type as follows:

						March 31, 2022												December 31, 2021
(dollars in thousands, except amounts in the footnote)						Amount						%						Amount						%
Commercial						$	1,377,615					19		%				$	1,354,317					19		%
PPP loans						35,744						1		%				51,105						1		%
Income-producing - commercial real estate						3,543,795						50		%				3,385,298						48		%
Owner-occupied - commercial real estate						1,104,982						15		%				1,087,776						15		%
Real estate mortgage - residential						72,238						1		%				73,966						1		%
Construction - commercial and residential						783,101						11		%				896,319						13		%
Construction - C&I (owner-occupied)						140,282						2		%				159,579						2		%
Home equity						54,804						1		%				55,811						1		%
Other consumer						1,246						—						1,427						—
Total loans						7,113,807						100		%				7,065,598						100		%
Less: allowance for credit losses						(71,505)												(74,965)
Net loans (1)						$	7,042,302											$	6,990,633

(1)Excludes accrued interest receivable of $36.9 million and $38.6 million at March 31, 2022 and December 31, 2021, respectively, which were recorded in other assets on the Consolidated Balance Sheets.

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

The following tables detail activity in the allowance for credit losses by portfolio segment for the three months ended March 31, 2022 and 2021. 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, 2022
Allowance for credit losses:
Balance at beginning of period						$	14,475					$	38,287					$	12,146					$	449					$	9,099					$	474					$	35					$	74,965
Loans charged-off						(514)						—						—						—						—						—						—						(514)
Recoveries of loans previously charged-off						54						—						—						—						—						—						1						55
Net loans charged-off						(460)						—						—						—						—						—						1						(459)
Provision for (reversal of) credit losses						(1,069)						906						(1,631)						(68)						(1,126)						(7)						(6)						(3,001)
Ending balance						$	12,946					$	39,193					$	10,515					$	381					$	7,973					$	467					$	30					$	71,505
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) recovered						(4,054)						(1,000)						—						—						(206)						—						12						(5,248)
Provision for (reversal of) credit losses						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

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, 2022 and December 31, 2021:

						March 31, 2022												December 31, 2021
(dollars in thousands)						Business/Other Assets						Real Estate						Business/Other Assets						Real Estate
Commercial						$	2,222					$	6,784					$	3,098					$	6,821
PPP loans						106						—						1,365						—
Income-producing - commercial real estate						3,120						19,316						3,193						19,378
Owner-occupied - commercial real estate						—						33						—						42
Real estate mortgage - residential						—						1,698						—						1,779
Construction - commercial and residential						—						—						—						3,093
Home equity						—						365						—						366
Total						$	5,448					$	28,196					$	7,656					$	31,479

Schedule of the risk category of loans by class of loans

Based on the most recent analysis performed, amortized cost basis of loans by risk category, class and year of origination are as follows:

March 31, 2022 (dollars in thousands)						Prior						2018						2019						2020						2021						2022						Revolving Loans Amort. Cost Basis						Revolving Loans Convert. to Term						Total
Commercial
Pass						219,550						98,054						86,957						76,823						243,084						14,286						573,964						216						1,312,934
Watch						12,922						1,964						297						4,167						2,903						—						22,753						—						45,006
Special Mention						9,074						351						—						—						—						—						662						—						10,087
Substandard						1,415						418						421						—						—						—						7,334						—						9,588
Total						242,961						100,787						87,675						80,990						245,987						14,286						604,713						216						1,377,615
PPP loans
Pass						—						—						—						6,587						29,051						—						—						—						35,638
Substandard						—						—						—						106						—						—						—						—						106
Total						—						—						—						6,693						29,051						—						—						—						35,744
Income producing - commercial real estate
Pass						988,558						465,207						530,134						317,332						550,262						67,095						190,847						369						3,109,804
Watch						123,945						—						—						35,320						—						—						—						—						159,265
Special Mention						101,260						46,887						4,250						—						—						—						47,686						—						200,083
Substandard						65,981						3,120						5,542						—						—						—						—						—						74,643
Total						1,279,744						515,214						539,926						352,652						550,262						67,095						238,533						369						3,543,795
Owner occupied - commercial real estate
Pass						479,223						228,705						81,347						42,715						188,852						6,453						2,341						—						1,029,636
Watch						23,557						11,708						6,789						—						—						—						13,571						—						55,625

Substandard						19,721						—						—						—						—						—						—						—						19,721
Total						522,501						240,413						88,136						42,715						188,852						6,453						15,912						—						1,104,982
Real estate mortgage - residential
Pass						20,520						12,856						13,038						3,421						16,438						1,208						—						—						67,481
Watch						3,059						—						—						—						—						—						—						—						3,059
Substandard						1,698						—						—						—						—						—						—						—						1,698
Total						25,277						12,856						13,038						3,421						16,438						1,208						—						—						72,238
Construction - commercial and residential
Pass						57,078						112,990						86,863						180,491						98,376						73,655						129,231						—						738,684
Watch						44,417						—						—						—						—						—						—						—						44,417
Total						101,495						112,990						86,863						180,491						98,376						73,655						129,231						—						783,101
Construction - C&I (owner occupied)
Pass						14,219						7,391						44,884						62,084						779						—						6,612						—						135,969
Watch						1,059						3,254						—						—						—						—						—						—						4,313
Total						15,278						10,645						44,884						62,084						779						—						6,612						—						140,282
Home equity
Pass						2,081						—						—						101						547						—						50,011						1,597						54,337
Watch						58						—						—						—						—						—						—						—						58
Substandard						308						—						44						—						—						—						57						—						409
Total						2,447						—						44						101						547						—						50,068						1,597						54,804
Other consumer
Pass						338						—						—						—						—						—						853						—						1,191
Watch						—						—						—						—						—						—						50						—						50
Substandard						—						—						—						—						—						—						5						—						5
Total						338						—						—						—						—						—						908						—						1,246
Total Recorded Investment						$	2,190,041					$	992,905					$	860,566					$	729,147					$	1,130,292					$	162,697					$	1,045,977					$	2,182					7,113,807
December 31, 2021 (dollars in thousands)						Prior						2017						2018						2019						2020						2021						Revolving Loans Amort. Cost Basis						Revolving Loans Convert. to Term						Total
Commercial
Pass						$	180,877					$	58,693					$	103,058					$	90,874					$	87,515					$	211,563					$	549,055					$	6,023					$	1,287,658
Watch						5,896						6,567						1,020						996						4,268						3,137						18,336						627						40,847
Special Mention						—						9,515						363						—						—						—						901						—						10,779
Substandard						4,205						778						1,850						437						—						—						7,763						—						15,033
Total						190,978						75,553						106,291						92,307						91,783						214,700						576,055						6,650						1,354,317
PPP loans
Pass						—						—						—						—						16,840						32,900						—						—						49,740
Substandard						—						—						—						—						1,365						—						—						—						1,365
Total						—						—						—						—						18,205						32,900						—						—						51,105
Income producing - commercial real estate
Pass						572,550						333,394						418,489						495,808						337,178						549,356						198,210						—						2,904,985
Watch						58,334						73,760						—						43,561						35,094						—						—						—						210,749
Special Mention						101,580						—						41,936						4,264						—						—						47,692						—						195,472
Substandard						60,059						—						8,491						5,542						—						—						—						—						74,092
Total						792,523						407,154						468,916						549,175						372,272						549,356						245,902						—						3,385,298
Owner occupied - commercial real estate
Pass						353,471						127,687						210,348						81,604						41,135						184,529						16,838						1,922						1,017,534
Watch						22,710						4,581						11,783						7,026						—						—						62						—						46,162
Special Mention						—						—						—						2,122						—						—						—						—						2,122
Substandard						21,958						—						—						—						—						—						—						—						21,958
Total						398,139						132,268						222,131						90,752						41,135						184,529						16,900						1,922						1,087,776
Real estate mortgage - residential
Pass						14,645						5,854						12,956						15,546						3,436						16,495						—			—			—						68,932
Watch						3,255						—						—						—						—						—						—			—			—						3,255

Substandard						1,698						—						—						81						—						—						—			—			—						1,779
Total						19,598						5,854						12,956						15,627						3,436						16,495						—						—						73,966
Construction - commercial and residential
Pass						32,815						139,756						171,152						142,599						160,952						71,799						127,956			—			1,773						848,802
Watch						506						43,918						—						—						—						—						—			—			—						44,424
Substandard						—						—						—						3,093						—						—						—			—			—						3,093
Total						33,321						183,674						171,152						145,692						160,952						71,799						127,956						1,773						896,319
Construction - C&I (owner occupied)
Pass						19,710						1,754						25,163						39,803						61,408						768						6,648			—			—						155,254
Watch						680						390						3,255						—						—						—						—			—			—						4,325
Total						20,390						2,144						28,418						39,803						61,408						768						6,648						—						159,579
Home equity
Pass						1,474						—						—						—						70						702						52,077			—			883						55,206
Watch						193						—						—						—						—						—						—			—			—						193
Substandard						46						—						—						45						—						—						58			—			263						412
Total						1,713						—						—						45						70						702						52,135						1,146						55,811
Other consumer
Pass						370						—						—						—						—						—						1,002			—			—						1,372
Substandard						—						—						—						—						—						—						55			—			—						55
Total						370						—						—						—						—						—						1,057						—						1,427
Total Recorded Investment						$	1,457,032					$	806,647					$	1,009,864					$	933,401					$	749,261					$	1,071,249					$	1,026,653					$	11,491					$	7,065,598

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, 2022 and December 31, 2021:

						Loans						Loans						Loans																								Total Recorded
						30-59 Days						60-89 Days						90 Days or						Total Past						Current						Nonaccrual						Investment in
(dollars in thousands)						Past Due						Past Due						More Past Due						Due Loans						Loans						Loans						Loans
March 31, 2022
Commercial						$	2,368					$	853					$	—					$	3,221					$	1,366,403					$	7,991					$	1,377,615
PPP loans						2,462						544						—						3,006						32,632						106						35,744
Income producing - commercial real estate						8,540						—						—						8,540						3,521,924						13,331						3,543,795
Owner occupied - commercial real estate						136						—						—						136						1,104,813						33						1,104,982
Real estate mortgage - residential						1,572						—						—						1,572						68,740						1,926						72,238
Construction - commercial and residential						—						—						—						—						783,101						—						783,101
Construction - C&I (owner occupied)						2,310						—						—						2,310						137,972						—						140,282
Home equity						—						—						—						—						54,439						365						54,804
Other consumer						3						—						—						3						1,243						—						1,246
Total						$	17,391					$	1,397					$	—					$	18,788					$	7,071,267					$	23,752					$	7,113,807
December 31, 2021
Commercial						$	1,462					$	672					$	—					$	2,134					$	1,343,307					$	8,876					$	1,354,317
PPP loans						1,765						825						—						2,590						47,150						1,365						51,105
Income producing - commercial real estate						—						—						—						—						3,371,842						13,456						3,385,298
Owner occupied - commercial real estate						419						19,108						—						19,527						1,068,207						42						1,087,776
Real estate mortgage – residential						1,372						—						—						1,372						70,584						2,010						73,966
Construction - commercial and residential						—						—						—						—						893,226						3,093						896,319
Construction- C&I (owner occupied)						—						—						—						—						159,579						—						159,579
Home equity						33						187						—						220						55,225						366						55,811
Other consumer						—						—						—						—						1,427						—						1,427
Total						$	5,051					$	20,792					$	—					$	25,843					$	7,010,547					$	29,208					$	7,065,598

Schedule of information related to nonaccrual loans by class

The following presents the nonaccrual loans as of March 31, 2022 and December 31, 2021:

						Nonaccrual with						Nonaccrual with						Total
						No Allowance						an Allowance						Nonaccrual
(dollars in thousands)						for Credit Loss						for Credit Loss						Loans
March 31, 2022
Commercial						$	5,546					$	2,445					$	7,991
PPP loans (1)						106						—						106
Income producing - commercial real estate						3,869						9,462						13,331
Owner occupied - commercial real estate						33						—						33
Real estate mortgage - residential						1,698						228						1,926
Home equity						365						—						365
Total (1)(2)						$	11,617					$	12,135					$	23,752
December 31, 2021
Commercial						$	5,806					$	3,070					$	8,876
PPP loans (1)						1,365						—						1,365
Income producing - commercial real estate						3,920						9,536						13,456
Owner occupied - commercial real estate						42						—						42
Real estate mortgage - residential						1,779						231						2,010
Construction - commercial and residential						3,093						—						3,093
Home equity						366						—						366
Total (1)(2)						$	16,371					$	12,837					$	29,208

(1)The CARES Act created the PPP, a program designed to aid small- and medium-sized businesses through federally guaranteed loans distributed through banks. These loans are intended to guarantee payroll and other costs to help those businesses remain viable and allow their workers to pay their bills.

(2)Excludes TDRs that were performing under their restructured terms totaling $10.1 million and $10.2 million at March 31, 2022 and December 31, 2021, respectively.

(3)Gross interest income of $325 thousand and approximately $800 thousand would have been recorded for the three months ended March 31, 2022 and 2021, respectively, if nonaccrual loans shown above had been current and in accordance with their original terms, while no interest income was actually recorded on such loans for the three months ended March 31, 2022 and 2021 respectively. 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 three months ended March 31, 2022 and 2021.

																		Income
						Number												Producing -
						of												Commercial
(dollars in thousands)						Loans						Commercial						Real Estate																		Total
Three Months Ended March 31, 2022
Troubled debt restructurings
Restructured accruing						5						$	1,016					$	9,105																	$	10,121
Restructured nonaccruing						2						—						6,342																		6,342
Total						7						$	1,016					$	15,447																	$	16,463
Individually-evaluated allowance												$	170					$	2,285																	$	2,455
Restructured and subsequently defaulted												$	—					$	6,342																	$	6,342
Three Months Ended March 31, 2021
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
Individually-evaluated allowance												$	547					$	2,976																	$	3,523
Restructured and subsequently defaulted												$	101					$	6,342																	$	6,443

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Tabular disclosure of allowance for credit loss on financing receivable.

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Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.3,4)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

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X

- Definition

Tabular disclosure of financing receivable on nonaccrual status.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=123577603&loc=d3e5111-111524

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=124255953&loc=SL82919258-210447

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- Definition

Tabular disclosure of financing receivable modified as troubled debt restructuring.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=123577603&loc=SL6953676-111524

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=123577603&loc=SL6953682-111524

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