Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2020

Activity In The Non-Covered Allowance For Loan And Lease Losses

The following table summarizes activity related to the allowance for credit losses on loans and leases by portfolio segment for the three months ended March 31, 2020:


	Three Months Ended March 31, 2020
(in thousands)	Commercial Real Estate		Commercial		Residential		Consumer & Other		Total
Balance, beginning of period	$	50,847	$	73,820	$	24,714	$	8,248	$	157,629
Impact of adoption of CECL	5,077		44,009		2,099		(1,186)		49,999
Provision for credit losses for loans and leases	43,608		49,673		7,185		5,036		105,502

Charge-offs	—		(22,608)		(11)		(1,836)		(24,455)
Recoveries	246		1,713		264		522		2,745
Net (charge-offs) recoveries	246		(20,895)		253		(1,314)		(21,710)
Balance, end of period	$	99,778	$	146,607	$	34,251	$	10,784	$	291,420

The following table summarizes activity related to the allowance for loan and lease losses by loan and lease portfolio segment for the three months ended March 31, 2019:


	Three Months Ended March 31, 2019
(in thousands)	Commercial Real Estate		Commercial		Residential		Consumer & Other		Total
Balance, beginning of period	$	47,904	$	63,957	$	22,034	$	10,976	$	144,871
Charge-offs	(2,151)		(13,210)		(135)		(1,656)		(17,152)
Recoveries	337		2,354		155		623		3,469
Provision	1,751		11,269		119		545		13,684
Balance, end of period	$	47,841	$	64,370	$	22,173	$	10,488	$	144,872

Loans and Leases Past Due and Non-Accrual Loans and Leases

The following tables present the amortized cost basis of the loans and leases past due, by loan and lease class, as of March 31, 2020 and December 31, 2019:


	March 31, 2020
(in thousands)	Greater than 30 to 59 Days Past Due		60 to 89 Days Past Due		Greater than 90 Days and Accruing		Total Past Due		Non-Accrual ⁽¹⁾		Current		Total Loans and Leases
Commercial real estate
Non-owner occupied term, net	$	4,331	$	5,401	$	—	$	9,732	$	4,510	$	3,599,178	$	3,613,420
Owner occupied term, net	7,064		4,231		2,177		13,472		6,135		2,452,580		2,472,187
Multifamily, net	—		—		—		—		598		3,463,619		3,464,217
Construction & development, net	—		—		—		—		—		667,975		667,975
Residential development, net	—		—		—		—		—		187,594		187,594
Commercial
Term, net	316		1,441		213		1,970		2,407		2,313,196		2,317,573
Lines of credit & other, net	3,194		648		1		3,843		12,443		1,191,765		1,208,051
Leases & equipment finance, net	12,668		3,663		2,281		18,612		13,035		1,461,115		1,492,762
Residential
Mortgage, net⁽²⁾	9,472		163		45,647		55,282		—		4,138,626		4,193,908
Home equity loans & lines, net	3,081		728		1,728		5,537		—		1,243,615		1,249,152
Consumer & other, net	2,619		942		466		4,027		—		380,612		384,639
Total, net of deferred fees and costs	$	42,745	$	17,217	$	52,513	$	112,475	$	39,128	$	21,099,875	$	21,251,478

⁽¹⁾ Loans and leases on non-accrual had a related allowance for credit losses of $11.6 million at March 31, 2020, related to an amortized cost basis of leases and equipment finance of $13.0 million.

⁽²⁾ Includes government guaranteed GNMA mortgage loans that the Bank has the right but not the obligation to repurchase that are past due 90 days or more, totaling $5.3 million at March 31, 2020.


	December 31, 2019
(in thousands)	Greater than 30 to 59 Days Past Due		60 to 89 Days Past Due		Greater than 90 Days and Accruing		Total Past Due		Non-Accrual		Current and Other ⁽¹⁾		Total Loans and Leases
Commercial real estate
Non-owner occupied term, net	$	—	$	—	$	121	$	121	$	2,920	$	3,542,525	$	3,545,566
Owner occupied term, net	975		470		1		1,446		4,600		2,490,042		2,496,088
Multifamily, net	—		—		—		—		—		3,514,774		3,514,774
Construction & development, net	—		—		—		—		—		678,740		678,740
Residential development, net	—		—		—		—		—		189,010		189,010
Commercial
Term, net	136		381		—		517		3,458		2,228,842		2,232,817
Lines of credit & other, net	3,548		376		36		3,960		767		1,207,666		1,212,393
Leases & equipment finance, net	10,685		11,176		3,086		24,947		14,499		1,426,043		1,465,489
Residential
Mortgage, net⁽²⁾	—		8,104		36,642		44,746		—		4,170,678		4,215,424
Home equity loans & lines, net	2,173		867		1,804		4,844		—		1,232,668		1,237,512
Consumer & other, net	2,043		948		615		3,606		—		404,265		407,871
Total, net of deferred fees and costs	$	19,560	$	22,322	$	42,305	$	84,187	$	26,244	$	21,085,253	$	21,195,684

⁽¹⁾ Other includes purchased credit impaired loans of $89.5 million.

⁽²⁾ Includes government guaranteed GNMA mortgage loans that the Bank has the right but not the obligation to repurchase that are past due 90 days or more, totaling $4.3 million at December 31, 2019.

Collateral Dependent Loans and Leases

The following table summarizes the amortized cost basis of the collateral dependent loans and leases by the type of collateral securing the assets as of March 31, 2020. There have been no significant changes in the level of collateralization from the prior periods.


(in thousands)	Residential Real Estate		Commercial Real Estate		General Business Assets		Other		Total
Commercial real estate
Non-owner occupied term, net	$	—	$	4,227	$	—	$	—	$	4,227
Owner occupied term, net	—		5,491		—		—		5,491
Multifamily, net	—		598		—		—		598


Commercial
Term, net	763		—		11,680		—		12,443
Line of credit & other, net	950		82		8		1,426		2,466
Leases & equipment finance, net	—		—		13,035		—		13,035
Residential
Mortgage, net	2,648		—		—		—		2,648
Home equity loans & lines, net	94,734		—		—		—		94,734

Total net of deferred fees and costs	$	99,095	$	10,398	$	24,723	$	1,426	$	135,642

Schedule of Reserve for Unfunded Commitments

Off Balance Sheet Credit Disclosure

The following tables present a summary of activity in the RUC and unfunded commitments for the three months ended March 31, 2020 and 2019:


	Three Months Ended
(in thousands)	March 31, 2020		March 31, 2019
Balance, beginning of period	$	5,106	$	4,523
Impact of adoption of CECL	3,238		—
Provision for credit losses on unfunded commitments	12,583		131
Balance, end of period	$	20,927	$	4,654


(in thousands)	Total
Unfunded loan and lease commitments
March 31, 2020	$	5,705,316
March 31, 2019	$	5,510,974

Schedule Of Troubled Debt Restructurings

The following tables present troubled debt restructurings by accrual versus non-accrual status and by portfolio segment as of March 31, 2020 and December 31, 2019:


	March 31, 2020
(in thousands)	Accrual Status		Non-Accrual Status		Total Modification		# of Contracts
Commercial real estate, net	$	5,045	$	329	$	5,374	8
Commercial, net	3,600		—		3,600		2
Residential, net	11,832		—		11,832		70
Consumer & other, net	64		—		64		4
Total, net of deferred fees and costs	$	20,541	$	329	$	20,870	84

	December 31, 2019
(in thousands)	Accrual Status		Non-Accrual Status		Total Modification		# of Contracts
Commercial real estate, net	$	3,968	$	—	$	3,968	3
Commercial, net	4,105		—		4,105		2
Residential, net	10,460		—		10,460		54
Consumer & other, net	43		—		43		3
Total, net of deferred fees and costs	$	18,576	$	—	$	18,576	62

The following table presents newly restructured loans that occurred during the three months ended March 31, 2020 and 2019:


	Three Months Ended
(in thousands)	March 31, 2020		March 31, 2019
Commercial real estate, net	$	—	$	118
Commercial, net	—		1,842
Residential, net	5,678		—
Consumer & other, net	24		—
Total, net of deferred fees and costs	$	5,702	$	1,960

Internal Risk Rating By Loan Class

The following table represents the amortized costs basis of the loans and leases by credit classification and vintage year by loan and lease class of financing receivable as of March 31, 2020:


(in thousands)				Term Loans Amortized Cost Basis by Origination Year																																		Revolving Loans Amortized Cost Basis	Revolving to Non-Revolving Loans Amortized Cost
	March 31, 2020	2020				2019				2018				2017				2016				Prior												Total
Commercial real estate:
Non-owner occupied term, net
Credit quality indicator:
	Pass	$	162,764			$	736,325			$	592,092			$	398,692			$	422,735			$	1,243,342			$	3,277			$	4,216			$	3,563,443
	Special mention	—				6,777				—				8,921				406				8,756				—				—				24,860
	Substandard	874				8,026				—				—				952				11,615				—				—				21,467
	Doubtful	—				—				—				—				2,564				740				—				—				3,304
	Loss	—				—				—				—				—				346				—				—				346
Total non-owner occupied term, net				$	163,638			$	751,128			$	592,092			$	407,613			$	426,657			$	1,264,799			$	3,277			$	4,216			$	3,613,420
Owner occupied term, net
Credit quality indicator:
	Pass	$	100,193			$	443,632			$	370,834			$	378,139			$	293,050			$	805,380			$	5,299			$	815			$	2,397,342
	Special mention	3,669				4,535				7,815				753				5,909				13,214				—				—				35,895
	Substandard	—				3,635				1,742				886				5,245				24,806				—				—				36,314
	Doubtful	—				810				—				—				—				—				—				—				810
	Loss	—				—				—				—				—				1,826				—				—				1,826
Total owner occupied term, net				$	103,862			$	452,612			$	380,391			$	379,778			$	304,204			$	845,226			$	5,299			$	815			$	2,472,187
Multifamily, net
Credit quality indicator:
	Pass	$	83,557			$	877,552			$	680,886			$	658,134			$	342,644			$	760,130			$	25,342			$	2,973			$	3,431,218
	Special mention	—				—				—				—				—				32,401				—				—				32,401
	Substandard	—				—				—				—				—				598				—				—				598
	Doubtful	—				—				—				—				—				—				—				—				—
	Loss	—				—				—				—				—				—				—				—				—
Total multifamily, net				$	83,557			$	877,552			$	680,886			$	658,134			$	342,644			$	793,129			$	25,342			$	2,973			$	3,464,217
Construction & development, net
Credit quality indicator:
	Pass	$	1,638			$	173,393			$	253,964			$	221,121			$	15,418			$	807			$	—			$	—			$	666,341
	Special mention	—				—				1,634				—				—				—				—				—				1,634
	Substandard	—				—				—				—				—				—				—				—				—
	Doubtful	—				—				—				—				—				—				—				—				—
	Loss	—				—				—				—				—				—				—				—				—
Total construction & development, net				$	1,638			$	173,393			$	255,598			$	221,121			$	15,418			$	807			$	—			$	—			$	667,975
Residential development, net
Credit quality indicator:
	Pass	$	3,225			$	19,398			$	3,820			$	443			$	—			$	—			$	157,834			$	2,874			$	187,594
	Special mention	—				—				—				—				—				—				—				—				—
	Substandard	—				—				—				—				—				—				—				—				—
	Doubtful	—				—				—				—				—				—				—				—				—
	Loss	—				—				—				—				—				—				—				—				—
Total residential development, net				$	3,225			$	19,398			$	3,820			$	443			$	—			$	—			$	157,834			$	2,874			$	187,594

Total commercial real estate				$	355,920			$	2,274,083			$	1,912,787			$	1,667,089			$	1,088,923			$	2,903,961			$	191,752			$	10,878			$	10,405,393


(in thousands)				Term Loans Amortized Cost Basis by Origination Year																																		Revolving Loans Amortized Cost Basis	Revolving to Non-Revolving Loans Amortized Cost
	March 31, 2020	2020				2019				2018				2017				2016				Prior												Total
Commercial:
Term, net
Credit quality indicator:
	Pass	$	114,570			$	436,486			$	377,297			$	286,267			$	96,080			$	274,444			$	660,452			$	12,656			$	2,258,252
	Special mention	—				243				177				318				7,195				4,837				15,500				—				28,270
	Substandard	—				421				10,112				5,382				1,660				2,754				5,952				3,419				29,700
	Doubtful	—				—				638				211				—				—				—				—				849
	Loss	—				—				135				154				213				—				—				—				502
Total term, net				$	114,570			$	437,150			$	388,359			$	292,332			$	105,148			$	282,035			$	681,904			$	16,075			$	2,317,573
Lines of credit & other, net
Credit quality indicator:
	Pass	$	8,791			$	30,652			$	32,363			$	4,893			$	3,929			$	1,297			$	1,045,637			$	4,342			$	1,131,904
	Special mention	—				1,401				—				—				—				—				43,033				1,555				45,989
	Substandard	—				706				—				691				669				1,750				11,695				14,646				30,157
	Doubtful	—				—				—				—				—				—				1				—				1
	Loss	—				—				—				—				—				—				—				—				—
Total lines of credit & other, net				$	8,791			$	32,759			$	32,363			$	5,584			$	4,598			$	3,047			$	1,100,366			$	20,543			$	1,208,051
Leases & equipment finance, net
Credit quality indicator:
	Pass	$	189,753			$	581,908			$	341,793			$	182,028			$	101,417			$	26,810			$	—			$	—			$	1,423,709
	Special mention	433				5,115				7,402				12,971				2,148				6,859				—				—				34,928
	Substandard	137				1,680				7,805				7,264				1,751				59				—				—				18,696
	Doubtful	—				4,593				4,456				2,740				1,232				265				—				—				13,286
	Loss	—				462				845				461				280				95				—				—				2,143
Total lease & equipment finance, net				$	190,323			$	593,758			$	362,301			$	205,464			$	106,828			$	34,088			$	—			$	—			$	1,492,762

Total commercial				$	313,684			$	1,063,667			$	783,023			$	503,380			$	216,574			$	319,170			$	1,782,270			$	36,618			$	5,018,386

Residential:
Mortgage, net
Credit quality indicator:
	Pass	$	133,745			$	1,380,067			$	598,603			$	554,168			$	587,734			$	889,637			$	—			$	—			$	4,143,954
	Special mention	—				175				533				2,949				1,195				4,783				—				—				9,635
	Substandard	—				709				2,406				8,078				9,022				18,871				—				—				39,086
	Doubtful	—				—				—				—				—				—				—				—				—
	Loss	—				359				378				—				—				496				—				—				1,233
Total mortgage, net				$	133,745			$	1,381,310			$	601,920			$	565,195			$	597,951			$	913,787			$	—			$	—			$	4,193,908


(in thousands)				Term Loans Amortized Cost Basis by Origination Year																																		Revolving Loans Amortized Cost Basis	Revolving to Non-Revolving Loans Amortized Cost
	March 31, 2020	2020				2019				2018				2017				2016				Prior												Total
Home equity loans & lines, net
Credit quality indicator:
	Pass	$	—			$	127			$	22			$	—			$	383			$	21,043			$	1,179,440			$	42,597			$	1,243,612
	Special mention	—				—				—				—				—				232				2,945				633				3,810
	Substandard	—				—				22				—				—				48				655				413				1,138
	Doubtful	—				—				—				—				—				—				—				—				—
	Loss	—				—				—				—				—				—				403				189				592
Total home equity loans & lines, net				$	—			$	127			$	44			$	—			$	383			$	21,323			$	1,183,443			$	43,832			$	1,249,152

Total residential				$	133,745			$	1,381,437			$	601,964			$	565,195			$	598,334			$	935,110			$	1,183,443			$	43,832			$	5,443,060

Consumer & other, net:
Credit quality indicator:
	Pass	$	13,656			$	35,020			$	17,361			$	77,240			$	37,378			$	24,179			$	174,063			$	1,714			$	380,611
	Special mention	15				110				127				881				760				425				1,053				190				3,561
	Substandard	—				45				14				3				18				8				329				48				465
	Doubtful	—				—				—				—				—				—				—				—				—
	Loss	—				—				—				—				—				1				1				—				2
Total consumer & other, net				$	13,671			$	35,175			$	17,502			$	78,124			$	38,156			$	24,613			$	175,446			$	1,952			$	384,639

Grand total				$	817,020			$	4,754,362			$	3,315,276			$	2,813,788			$	1,941,987			$	4,182,854			$	3,332,911			$	93,280			$	21,251,478