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Loans and Allowance for Credit Losses (Tables)

6 Months Ended

Jun. 30, 2022

Receivables [Abstract]

Schedule of loans, net of unamortized net deferred fees

Loans, net of unamortized net deferred fees, at June 30, 2022 and December 31, 2021 are summarized by type as follows:

						June 30, 2022												December 31, 2021
(dollars in thousands, except amounts in the footnote)						Amount						%						Amount						%
Commercial						$	1,394,835					20		%				$	1,354,317					19		%
PPP loans						8,977						—		%				51,105						1		%
Income-producing - commercial real estate						3,606,506						50		%				3,385,298						48		%
Owner-occupied - commercial real estate						1,080,249						15		%				1,087,776						15		%
Real estate mortgage - residential						72,793						1		%				73,966						1		%
Construction - commercial and residential						804,170						11		%				896,319						13		%
Construction - C&I (owner-occupied)						129,717						2		%				159,579						2		%
Home equity						53,193						1		%				55,811						1		%
Other consumer						4,246						—						1,427						—
Total loans						7,154,686						100		%				7,065,598						100		%
Less: allowance for credit losses						(72,665)												(74,965)
Net loans (1)						$	7,082,021											$	6,990,633

(1)Excludes accrued interest receivable of $34.4 million and $38.6 million at June 30, 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 and six months ended June 30, 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.

(dollars in thousands)						Commercial						Income-Producing Commercial Real Estate						Owner-Occupied -Commercial Real Estate						Real Estate Mortgage Residential						Construction -Commercial and Residential						Home Equity						Other Consumer						Total
Three Months Ended June 30, 2022
Allowance for credit losses:
Balance at beginning of period						$	12,946					$	39,193					$	10,515					$	381					$	7,973					$	467					$	30					$	71,505
Loans charged-off						(38)						—						(1,355)						—						—						—						(3)						(1,396)
Recoveries of loans previously charged-off						442						—						—						—						1,627						—						1						2,070
Net loans recovered (charged-off)						404						—						(1,355)						—						1,627						—						(2)						674
Provision for (reversal of) credit losses						2,404						(5,073)						3,636						409						(1,106)						180						36						486
Ending balance						$	15,754					$	34,120					$	12,796					$	790					$	8,494					$	647					$	64					$	72,665
Six Months Ended June 30, 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						(552)						—						(1,355)						—						—						—						(3)						(1,910)
Recoveries of loans previously charged-off						496						—						—						—						1,627						—						2						2,125
Net loans (charged-off) recovered						(56)						—						(1,355)						—						1,627						—						(1)						215
Provision for (reversal of) credit losses						1,335						(4,167)						2,005						341						(2,232)						173						30						(2,515)
Ending balance						$	15,754					$	34,120					$	12,796					$	790					$	8,494					$	647					$	64					$	72,665
Three Months Ended June 30, 2021
Allowance for credit losses:
Balance at beginning of period						$	23,701					$	51,510					$	14,315					$	919					$	10,683					$	907					$	35					$	102,070
Loans charged-off						(1,541)						(4,216)						—						—						—						—						—						(5,757)
Recoveries of loans previously charged-off						150						—						—						—						6						—						2						158
Net loans (charged-off) recovered						(1,391)						(4,216)						—						—						6						—						2						(5,599)
(Reversal of) provision for credit losses						(962)						(1,324)						(1,320)						(37)						(262)						(10)						4						(3,911)
Ending balance						$	21,348					$	45,970					$	12,995					$	882					$	10,427					$	897					$	41					$	92,560
Six Months Ended June 30, 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						(5,691)						(5,216)						—						—						(206)						—						(1)						(11,114)
Recoveries of loans previously charged-off						246						—						—						—						6						—						15						267
Net loans (charged-off) recovered						(5,445)						(5,216)						—						—						(200)						—						14						(10,847)
Provision for (reversal of) credit losses						224						(4,199)						(1,005)						(138)						(902)						(142)						(10)						(6,172)
Ending balance						$	21,348					$	45,970					$	12,995					$	882					$	10,427					$	897					$	41					$	92,560

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 June 30, 2022 and December 31, 2021:

						June 30, 2022												December 31, 2021
						Business/Other												Business/Other
(dollars in thousands)						Assets						Real Estate						Assets						Real Estate
Commercial						$	2,517					$	6,764					$	3,098					$	6,821
PPP loans						—						—						1,365						—
Income-producing - commercial real estate						3,120						8,154						3,193						19,378
Owner-occupied - commercial real estate						—						27						—						42
Real estate mortgage - residential						—						3,059						—						1,779
Construction - commercial and residential						—						—						—						3,093
Home equity						—						308						—						366
Total						$	5,637					$	18,312					$	7,656					$	31,479

Schedule of the risk category of loans by class of loans

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

June 30, 2022 (dollars in thousands)						Prior						2018						2019						2020						2021						2022						Revolving Loans Amort. Cost Basis						Revolving Loans Convert. to Term						Total
Commercial
Pass						196,742						95,690						79,176						74,479						236,521						66,620						580,242						6,409						1,335,879
Watch						6,803						1,901						392						3,974						2,899						—						23,712						—						39,681
Special Mention						8,636						326						—						—						—						—						277						—						9,239
Substandard						1,925						378						398						—						—						—						6,387						948						10,036
Total						214,106						98,295						79,966						78,453						239,420						66,620						610,618						7,357						1,394,835
PPP loans
Pass						—						—						—						2,768						6,209						—						—						—						8,977
Total						—						—						—						2,768						6,209						—						—						—						8,977
Income producing - commercial real estate
Pass						868,846						452,215						524,265						306,313						547,637						278,600						205,062						365						3,183,303
Watch						123,750						—						921						35,598						—						—						—						—						160,269
Special Mention						100,960						46,561						4,238						—						—						—						47,695						—						199,454
Substandard						60,360						3,120						—						—						—						—						—						—						63,480
Total						1,153,916						501,896						529,424						341,911						547,637						278,600						252,757						365						3,606,506
Owner occupied - commercial real estate
Pass						459,530						210,701						77,657						42,152						193,919						19,566						15,375						—						1,018,900
Watch						23,183						11,639						6,750						—						—						—						61						—						41,633
Substandard						19,716						—						—						—						—						—						—						—						19,716
Total						502,429						222,340						84,407						42,152						193,919						19,566						15,436						—						1,080,249
Real estate mortgage - residential
Pass						17,904						12,481						12,610						3,313						16,399						3,973						—						—						66,680
Watch						3,054						—						—						—						—						—						—						—						3,054
Substandard						3,059						—						—						—						—						—						—						—						3,059
Total						24,017						12,481						12,610						3,313						16,399						3,973						—						—						72,793
Construction - commercial and residential
Pass						41,691						91,582						91,196						200,264						124,853						90,531						117,522						—						757,639
Watch						44,426						—						—						—						—						—						—						2,105						46,531
Total						86,117						91,582						91,196						200,264						124,853						90,531						117,522						2,105						804,170
Construction - C&I (owner occupied)
Pass						14,082						7,337						39,810						53,639						801						858						6,579						—						123,106
Watch						1,048						3,255						—						2,308						—						—						—						—						6,611
Total						15,130						10,592						39,810						55,947						801						858						6,579						—						129,717
Home equity
Pass						2,040						—						—						100						534						—						48,597						1,257						52,528
Watch						308						—						43						—						—						—						61						—						412
Substandard						57						—						—						—						—						—						196						—						253
Total						2,405						—						43						100						534						—						48,854						1,257						53,193
Other consumer
Pass						885						—						—						—						—						2,492						812						—						4,189
Watch						—						—						—						—						—						—						52						—						52
Substandard						—						—						—						—						—						—						5						—						5
Total						885						—						—						—						—						2,492						869						—						4,246
Total Recorded Investment						$	1,999,005					$	937,186					$	837,456					$	724,908					$	1,129,772					$	462,640					$	1,052,635					$	11,084					7,154,686

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 June 30, 2022 and December 31, 2021:

(dollars in thousands)						Loans 30-59 Days Past Due						Loans 60-89 Days Past Due						Loans 90 Days or More Past Due						Total Past Due Loans						Current Loans						Nonaccrual Loans						Total Recorded Investment in Loans
June 30, 2022
Commercial						$	394					$	339					$	—					$	733					$	1,385,813					$	8,289					$	1,394,835
PPP loans						—						—						—						—						8,977						—						8,977
Income producing - commercial real estate						—						—						—						—						3,599,570						6,936						3,606,506
Owner occupied - commercial real estate						283						—						—						283						1,079,939						27						1,080,249
Real estate mortgage - residential						—						—						—						—						69,511						3,282						72,793
Construction - commercial and residential						95						—						—						95						804,075						—						804,170
Construction - C&I (owner occupied)						—						2,308						—						2,308						127,409						—						129,717
Home equity						443						—						—						443						52,442						308						53,193
Other consumer						68						—						—						68						4,178						—						4,246
Total						$	1,283					$	2,647					$	—					$	3,930					$	7,131,914					$	18,842					$	7,154,686
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 June 30, 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
June 30, 2022
Commercial						$	5,797					$	2,492					$	8,289
Income producing - commercial real estate						3,816						3,120						6,936
Owner occupied - commercial real estate						27						—						27
Real estate mortgage - residential						1,361						1,921						3,282
Home equity						308						—						308
Total (1)(2)						$	11,309					$	7,533					$	18,842
December 31, 2021
Commercial						$	5,806					$	3,070					$	8,876
PPP loans (3)						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)Excludes TDRs that were performing under their restructured terms totaling $5.3 million and $10.2 million at June 30, 2022 and December 31, 2021, respectively.

(2)Gross interest income of $532 thousand and approximately $1.5 million would have been recorded for the six months ended June 30, 2022 and 2021, respectively, if nonaccrual loans shown above had been current and in accordance with their original terms, while $6 thousand and $44 thousand interest income was actually recorded on such loans for the six months ended June 30, 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.

(3)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.

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- Definition

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

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No definition available.

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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.

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No definition available.

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Tabular disclosure of allowance for credit loss on financing receivable.

+ References

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-Publisher FASB
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-SubTopic 10
-Section 50
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-Name Accounting Standards Codification
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Tabular disclosure of aging analysis for financing receivable.

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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919253-210447

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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.

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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)
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Tabular disclosure of financing receivable on nonaccrual status.

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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 https://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 https://asc.fasb.org/extlink&oid=124255953&loc=SL82919258-210447

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