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Loans and Allowance for Credit Losses (Tables)

9 Months Ended

Sep. 30, 2022

Receivables [Abstract]

Schedule of loans, net of unamortized net deferred fees

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

						September 30, 2022												December 31, 2021
(dollars in thousands, except amounts in the footnote)						Amount						%						Amount						%
Commercial						$	1,415,998					19		%				$	1,354,317					19		%
PPP loans						7,241						—		%				51,105						1		%
Income-producing - commercial real estate						3,668,720						50		%				3,385,298						48		%
Owner-occupied - commercial real estate						1,091,283						15		%				1,087,776						15		%
Real estate mortgage - residential						71,731						1		%				73,966						1		%
Construction - commercial and residential						858,100						12		%				896,319						13		%
Construction - C&I (owner-occupied)						139,238						2		%				159,579						2		%
Home equity						51,396						1		%				55,811						1		%
Other consumer						791						—						1,427						—
Total loans						7,304,498						100		%				7,065,598						100		%
Less: allowance for credit losses						(75,767)												(74,965)
Net loans (1)						$	7,228,731											$	6,990,633

(1)Excludes accrued interest receivable of $37.1 million and $38.6 million at September 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 nine months ended September 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 September 30, 2022
Allowance for credit losses:
Balance at beginning of period						$	15,754					$	34,120					$	12,796					$	790					$	8,494					$	647					$	64					$	72,665
Loans charged-off						(53)						—						—						—						—						—						(70)						(123)
Recoveries of loans previously charged-off						152						—						25						—						—						—						2						179
Net loans (charged-off) recovered						99						—						25						—						—						—						(68)						56
Provision for (reversal of) credit losses						20						2,207						(240)						20						1,020						(23)						42						3,046
Ending balance						$	15,873					$	36,327					$	12,581					$	810					$	9,514					$	624					$	38					$	75,767
Nine Months Ended September 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						(604)						—						(1,356)						—						—						—						(74)						(2,034)
Recoveries of loans previously charged-off						648						—						25						—						1,627						—						4						2,304
Net loans (charged-off) recovered						44						—						(1,331)						—						1,627						—						(70)						270
Provision for (reversal of) credit losses						1,354						(1,960)						1,766						361						(1,212)						150						73						532
Ending balance						$	15,873					$	36,327					$	12,581					$	810					$	9,514					$	624					$	38					$	75,767
Three Months Ended September 30, 2021
Allowance for credit losses:
Balance at beginning of period						$	21,348					$	45,970					$	12,995					$	882					$	10,427					$	897					$	41					$	92,560
Loans charged-off						(1,999)						—						—						—						—						—						(1)						(2,000)
Recoveries of loans previously charged-off						81						97						—						—						493						—						1						672
Net loans (charged-off) recovered						(1,918)						97						—						—						493						—						—						(1,328)
Provision for (reversal of) credit losses						(2,503)						(4,636)						(1,050)						172						(179)						(129)						(1)						(8,326)
Ending balance						$	16,927					$	41,431					$	11,945					$	1,054					$	10,741					$	768					$	40					$	82,906
Nine Months Ended September 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						(7,691)						(5,216)						—						—						(206)						—						(1)						(13,114)
Recoveries of loans previously charged-off						326						97						—						—						499						—						17						939
Net loans (charged-off) recovered						(7,365)						(5,119)						—						—						293						—						16						(12,175)
Provision for (reversal of) credit losses						(2,277)						(8,835)						(2,055)						34						(1,081)						(271)						(13)						(14,498)
Ending balance						$	16,927					$	41,431					$	11,945					$	1,054					$	10,741					$	768					$	40					$	82,906

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 September 30, 2022 and December 31, 2021:

						September 30, 2022												December 31, 2021
						Business/Other												Business/Other
(dollars in thousands)						Assets						Real Estate						Assets						Real Estate
Commercial						$	1,978					$	2,008					$	3,098					$	6,821
PPP loans						—						—						1,365						—
Income-producing - commercial real estate						2,645						4,333						3,193						19,378
Owner-occupied - commercial real estate						—						19,191						—						42
Real estate mortgage - residential						—						1,698						—						1,779
Construction - commercial and residential						—						—						—						3,093
Home equity						—						—						—						366
Total						$	4,623					$	27,230					$	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:

September 30, 2022 (dollars in thousands)						Prior						2018						2019						2020						2021						2022						Revolving Loans Amort. Cost Basis						Revolving Loans Convert. to Term						Total
Commercial
Pass						$	190,265					$	48,254					$	59,021					$	64,569					$	229,469					$	102,904					$	665,362					$	8,384					$	1,368,228
Watch						5,854						1,859						360						3,776						2,893						996						21,980						—						37,718
Special Mention						—						264						—						—						—						87						4,817						—						5,168
Substandard						1,695						366						287						—						—						—						1,269						1,267						4,884
Total						197,814						50,743						59,668						68,345						232,362						103,987						693,428						9,651						1,415,998
PPP loans
Pass						—						—						—						2,479						4,762						—						—						—						7,241
Total						—						—						—						2,479						4,762						—						—						—						7,241
Income producing - commercial real estate
Pass						788,336						428,086						455,202						298,741						550,777						496,371						195,569						363						3,213,445
Watch						249,570						5,223						—						35,707						—						—						—						—						290,500
Special Mention						44,374						5,229						4,224						—						—						—						47,677						—						101,504
Substandard						60,626						2,645						—						—						—						—						—						—						63,271
Total						1,142,906						441,183						459,426						334,448						550,777						496,371						243,246						363						3,668,720
Owner occupied - commercial real estate
Pass						456,427						205,475						79,279						41,152						202,135						37,851						15,181						—						1,037,500
Watch						17,779						11,563						4,618						—						—						—						60						—						34,020
Substandard						19,763						—						—						—						—						—						—						—						19,763
Total						493,969						217,038						83,897						41,152						202,135						37,851						15,241						—						1,091,283
Real estate mortgage - residential
Pass						16,329						12,457						11,703						3,295						16,348						6,857						—						—						66,989
Watch						3,044						—						—						—						—						—						—						—						3,044
Substandard						1,698						—						—						—						—						—						—						—						1,698
Total						21,071						12,457						11,703						3,295						16,348						6,857						—						—						71,731
Construction - commercial and residential
Pass						42,069						71,408						98,357						180,664						156,539						139,531						123,726						—						812,294
Watch						44,409						—						—						—						—						—						—						1,397						45,806
Total						86,478						71,408						98,357						180,664						156,539						139,531						123,726						1,397						858,100
Construction - C&I (owner occupied)
Pass						13,935						7,289						34,322						55,777						661						6,640						6,543						—						125,167
Watch						1,036						3,254						7,480						2,301						—						—						—						—						14,071
Total						14,971						10,543						41,802						58,078						661						6,640						6,543						—						139,238
Home equity
Pass						1,713						—						—						99						548						—						47,958						724						51,042
Watch						55						—						—						—						—						—						196						—						251
Substandard						—						—						42						—						—						—						61						—						103
Total						1,768						—						42						99						548						—						48,215						724						51,396
Other consumer
Pass						4						—						—						—						—						711						13						—						728
Watch						—						—						—						—						—						—						55						3						58
Substandard						—						—						—						—						—						—						5						—						5
Total						4						—						—						—						—						711						73						3						791
Total Recorded Investment						$	1,958,981					$	803,372					$	754,895					$	688,560					$	1,164,132					$	791,948					$	1,130,472					$	12,138					7,304,498
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 September 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
September 30, 2022
Commercial						$	110					$	342					$	—					$	452					$	1,412,528					$	3,018					$	1,415,998
PPP loans						—						—						—						—						7,241						—						7,241
Income producing - commercial real estate						155						10,978						—						11,133						3,654,942						2,645						3,668,720
Owner occupied - commercial real estate						281						—						—						281						1,090,981						21						1,091,283
Real estate mortgage - residential						—						—						—						—						69,814						1,917						71,731
Construction - commercial and residential						—						1,945						—						1,945						856,155						—						858,100
Construction - C&I (owner occupied)						—						2,301						—						2,301						136,937						—						139,238
Home equity						—						55						—						55						51,341						—						51,396
Other consumer						55						—						—						55						736						—						791
Total						$	601					$	15,621					$	—					$	16,222					$	7,280,675					$	7,601					$	7,304,498
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 September 30, 2022 and December 31, 2021:

						Nonaccrual with						Nonaccrual with						Total
						No Allowance						an Allowance						Nonaccrual
(dollars in thousands, except amounts in footnotes)						for Credit Loss						for Credit Loss						Loans
September 30, 2022
Commercial						$	405					$	2,613					$	3,018
Income producing - commercial real estate						—						2,645						2,645
Owner occupied - commercial real estate						21						—						21
Real estate mortgage - residential						—						1,917						1,917
Home equity						—						—						—
Total (1)(2)						$	426					$	7,175					$	7,601
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 $24.5 million and $10.2 million at September 30, 2022 and December 31, 2021, respectively.

(2)Gross interest income of $410 thousand and approximately $1.4 million would have been recorded for the nine months ended September 30, 2022 and 2021, respectively, if nonaccrual loans shown above had been current and in accordance with their original terms, while $5 thousand and $23 thousand interest income was actually recorded on such loans for the nine months ended September 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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- Definition

Tabular disclosure of allowance for credit loss on financing receivable.

+ References

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-Publisher FASB
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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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No definition available.

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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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