Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 | ||||||||
for the quarterly period ended: | ||||||||
or |
Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 | ||||||||
for the transition period from to . |
(State or Other Jurisdiction | (I.R.S. Employer Identification Number) | ||||
of Incorporation or Organization) |
TITLE OF EACH CLASS | TRADING SYMBOL | NAME OF EXCHANGE | ||||||
Item 1. | ||||||||
Item 2. | ||||||||
Item 3. | ||||||||
Item 4. | ||||||||
Item 1. | ||||||||
Item 1A. | ||||||||
Item 2. | ||||||||
Item 3. | ||||||||
Item 4. | ||||||||
Item 5. | ||||||||
Item 6. | ||||||||
GLOSSARY OF DEFINED TERMS | ||||||||
ACL | Allowance for credit losses | |||||||
ASU | Accounting Standards Update | |||||||
ATM | Automated teller machine | |||||||
Bank | Umpqua Bank | |||||||
Basel III | Basel capital framework (third accord) | |||||||
CECL | Current Expected Credit Losses | |||||||
Columbia | Columbia Banking System, Inc. | |||||||
Company | Umpqua Holdings Corporation and its subsidiaries | |||||||
CVA | Credit valuation adjustments | |||||||
DCF | Discounted cash flow | |||||||
FASB | Financial Accounting Standards Board | |||||||
FDIC | Federal Deposit Insurance Corporation | |||||||
Federal Reserve | Board of Governors of the Federal Reserve System | |||||||
FHLB | Federal Home Loan Bank | |||||||
FinPac | Financial Pacific Leasing, Inc. | |||||||
GAAP | Generally accepted accounting principles | |||||||
GDP | Gross Domestic Product | |||||||
GNMA | Government National Mortgage Association | |||||||
HELOC | Home equity line of credit | |||||||
LGD | Loss given default | |||||||
LIBOR | London Inter-Bank Offered Rate | |||||||
Merger | Merger Sub will merge with and into Umpqua, with Umpqua surviving | |||||||
Merger Agreement | Agreement dated as of October 11, 2021, by and among Umpqua, Columbia, and Cascade Merger Sub, Inc., a Delaware corporation and a direct, wholly owned subsidiary of Columbia | |||||||
Merger Sub | Cascade Merger Sub, Inc., a Delaware corporation and a direct, wholly owned subsidiary of Columbia | |||||||
MSR | Mortgage servicing rights | |||||||
NOL | Net operating loss | |||||||
N/M | Not meaningful | |||||||
PD | Probability of default | |||||||
PPP | Paycheck Protection Program | |||||||
SBA | Small Business Administration | |||||||
SEC | Securities and Exchange Commission | |||||||
Surviving Entity | Merger Sub will merge with and into Umpqua, with Umpqua surviving the Merger | |||||||
TDR | Troubled debt restructuring | |||||||
USDA | United States Department of Agriculture |
(in thousands, except shares) | September 30, 2021 | December 31, 2020 | |||||||||
ASSETS | |||||||||||
Cash and due from banks (restricted cash of $ | $ | $ | |||||||||
Interest bearing cash and temporary investments (restricted cash of $ | |||||||||||
Total cash and cash equivalents | |||||||||||
Investment securities | |||||||||||
Equity and other, at fair value | |||||||||||
Available for sale, at fair value | |||||||||||
Held to maturity, at amortized cost | |||||||||||
Loans held for sale (at fair value: $ | |||||||||||
Loans and leases (at fair value: $ | |||||||||||
Allowance for credit losses on loans and leases | ( | ( | |||||||||
Net loans and leases | |||||||||||
Restricted equity securities | |||||||||||
Premises and equipment, net | |||||||||||
Operating lease right-of-use assets | |||||||||||
Goodwill | |||||||||||
Other intangible assets, net | |||||||||||
Residential mortgage servicing rights, at fair value | |||||||||||
Bank owned life insurance | |||||||||||
Deferred tax asset, net | |||||||||||
Other assets | |||||||||||
Total assets | $ | $ | |||||||||
LIABILITIES AND SHAREHOLDERS' EQUITY | |||||||||||
Deposits | |||||||||||
Non-interest bearing | $ | $ | |||||||||
Interest bearing | |||||||||||
Total deposits | |||||||||||
Securities sold under agreements to repurchase | |||||||||||
Borrowings | |||||||||||
Junior subordinated debentures, at fair value | |||||||||||
Junior subordinated debentures, at amortized cost | |||||||||||
Operating lease liabilities | |||||||||||
Deferred tax liability, net | |||||||||||
Other liabilities | |||||||||||
Total liabilities | |||||||||||
COMMITMENTS AND CONTINGENCIES (NOTE 6) | |||||||||||
SHAREHOLDERS' EQUITY | |||||||||||
Common stock, | |||||||||||
Accumulated deficit | ( | ( | |||||||||
Accumulated other comprehensive income | |||||||||||
Total shareholders' equity | |||||||||||
Total liabilities and shareholders' equity | $ | $ |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
(in thousands, except per share amounts) | September 30, 2021 | September 30, 2020 | September 30, 2021 | September 30, 2020 | |||||||||||||||||||
INTEREST INCOME | |||||||||||||||||||||||
Interest and fees on loans and leases | $ | $ | $ | $ | |||||||||||||||||||
Interest and dividends on investment securities: | |||||||||||||||||||||||
Taxable | |||||||||||||||||||||||
Exempt from federal income tax | |||||||||||||||||||||||
Dividends | |||||||||||||||||||||||
Interest on temporary investments and interest bearing deposits | |||||||||||||||||||||||
Total interest income | |||||||||||||||||||||||
INTEREST EXPENSE | |||||||||||||||||||||||
Interest on deposits | |||||||||||||||||||||||
Interest on securities sold under agreement to repurchase and federal funds purchased | |||||||||||||||||||||||
Interest on borrowings | |||||||||||||||||||||||
Interest on junior subordinated debentures | |||||||||||||||||||||||
Total interest expense | |||||||||||||||||||||||
Net interest income | |||||||||||||||||||||||
(RECAPTURE) PROVISION FOR CREDIT LOSSES | ( | ( | ( | ||||||||||||||||||||
Net interest income after (recapture) provision for credit losses | |||||||||||||||||||||||
NON-INTEREST INCOME | |||||||||||||||||||||||
Service charges on deposits | |||||||||||||||||||||||
Card-based fees | |||||||||||||||||||||||
Brokerage revenue | |||||||||||||||||||||||
Residential mortgage banking revenue, net | |||||||||||||||||||||||
Gain on sale of debt securities, net | |||||||||||||||||||||||
(Loss) gain on equity securities, net | ( | ( | ( | ||||||||||||||||||||
Gain on loan and lease sales, net | |||||||||||||||||||||||
Bank owned life insurance income | |||||||||||||||||||||||
Other income | |||||||||||||||||||||||
Total non-interest income | |||||||||||||||||||||||
NON-INTEREST EXPENSE | |||||||||||||||||||||||
Salaries and employee benefits | |||||||||||||||||||||||
Occupancy and equipment, net | |||||||||||||||||||||||
Communications | |||||||||||||||||||||||
Marketing | |||||||||||||||||||||||
Services | |||||||||||||||||||||||
FDIC assessments | |||||||||||||||||||||||
Intangible amortization | |||||||||||||||||||||||
Goodwill impairment | |||||||||||||||||||||||
Other expenses | |||||||||||||||||||||||
Total non-interest expense | |||||||||||||||||||||||
Income (loss) before provision for income taxes | ( | ||||||||||||||||||||||
Provision for income taxes | |||||||||||||||||||||||
Net income (loss) | $ | $ | $ | $ | ( | ||||||||||||||||||
Earnings (loss) per common share: | |||||||||||||||||||||||
Basic | $ | $ | $ | ($ | |||||||||||||||||||
Diluted | $ | $ | $ | ($ | |||||||||||||||||||
Weighted average number of common shares outstanding: | |||||||||||||||||||||||
Basic | |||||||||||||||||||||||
Diluted |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
(in thousands) | September 30, 2021 | September 30, 2020 | September 30, 2021 | September 30, 2020 | |||||||||||||||||||
Net income (loss) | $ | $ | $ | $ | ( | ||||||||||||||||||
Available for sale securities: | |||||||||||||||||||||||
Unrealized (losses) gains arising during the period | ( | ( | |||||||||||||||||||||
Income tax benefit (expense) related to unrealized (losses) gains | ( | ( | |||||||||||||||||||||
Reclassification adjustment for net realized gains in earnings | ( | ( | |||||||||||||||||||||
Income tax expense related to realized gains | |||||||||||||||||||||||
Net change in unrealized (losses) gains for available for sale securities | ( | ( | |||||||||||||||||||||
Junior subordinated debentures, at fair value: | |||||||||||||||||||||||
Unrealized (losses) gains arising during the period | ( | ( | ( | ||||||||||||||||||||
Income tax benefit (expense) related to unrealized gains | ( | ||||||||||||||||||||||
Net change in unrealized (losses) gains for junior subordinated debentures, at fair value | ( | ( | ( | ||||||||||||||||||||
Other comprehensive (loss) income, net of tax | ( | ( | ( | ||||||||||||||||||||
Comprehensive income (loss) | $ | $ | $ | $ | ( |
Common Stock | Retained Earnings (Accumulated Deficit) | Accumulated Other Comprehensive Income | |||||||||||||||||||||||||||
(in thousands, except shares) | Shares | Amount | Total | ||||||||||||||||||||||||||
Balance at January 1, 2020 | $ | $ | $ | $ | |||||||||||||||||||||||||
Net loss | ( | ( | |||||||||||||||||||||||||||
Other comprehensive income, net of tax | |||||||||||||||||||||||||||||
Stock-based compensation | |||||||||||||||||||||||||||||
Stock repurchased and retired | ( | ( | ( | ||||||||||||||||||||||||||
Issuances of common stock under stock plans | |||||||||||||||||||||||||||||
Cash dividends on common stock ($ | ( | ( | |||||||||||||||||||||||||||
Cumulative effect adjustment (1) | ( | ( | |||||||||||||||||||||||||||
Balance at March 31, 2020 | $ | $ | ( | $ | $ | ||||||||||||||||||||||||
Net income | |||||||||||||||||||||||||||||
Other comprehensive loss, net of tax | ( | ( | |||||||||||||||||||||||||||
Stock-based compensation | |||||||||||||||||||||||||||||
Stock repurchased and retired | ( | ( | ( | ||||||||||||||||||||||||||
Issuances of common stock under stock plans | |||||||||||||||||||||||||||||
Balance at June 30, 2020 | $ | $ | ( | $ | $ | ||||||||||||||||||||||||
Net income | |||||||||||||||||||||||||||||
Other comprehensive loss, net of tax | ( | ( | |||||||||||||||||||||||||||
Stock-based compensation | |||||||||||||||||||||||||||||
Stock repurchased and retired | ( | ( | ( | ||||||||||||||||||||||||||
Issuances of common stock under stock plans | |||||||||||||||||||||||||||||
Cash dividends on common stock ($ | ( | ( | |||||||||||||||||||||||||||
Balance at September 30, 2020 | $ | $ | ( | $ | $ | ||||||||||||||||||||||||
Net income | |||||||||||||||||||||||||||||
Other comprehensive loss, net of tax | ( | ( | |||||||||||||||||||||||||||
Stock-based compensation | |||||||||||||||||||||||||||||
Stock repurchased and retired | ( | ( | ( | ||||||||||||||||||||||||||
Issuances of common stock under stock plans | |||||||||||||||||||||||||||||
Cash dividends on common stock ($ | ( | ( | |||||||||||||||||||||||||||
Balance at December 31, 2020 | $ | $ | ( | $ | $ |
Common Stock | Retained Earnings (Accumulated Deficit) | Accumulated Other Comprehensive Income (Loss) | |||||||||||||||||||||||||||
(in thousands, except shares) | Shares | Amount | Total | ||||||||||||||||||||||||||
Balance at January 1, 2021 | $ | $ | ( | $ | $ | ||||||||||||||||||||||||
Net income | |||||||||||||||||||||||||||||
Other comprehensive loss, net of tax | ( | ( | |||||||||||||||||||||||||||
Stock-based compensation | |||||||||||||||||||||||||||||
Stock repurchased and retired | ( | ( | ( | ||||||||||||||||||||||||||
Issuances of common stock under stock plans | |||||||||||||||||||||||||||||
Cash dividends on common stock ($ | ( | ( | |||||||||||||||||||||||||||
Balance at March 31, 2021 | $ | $ | ( | $ | $ | ||||||||||||||||||||||||
Net income | |||||||||||||||||||||||||||||
Other comprehensive income, net of tax | |||||||||||||||||||||||||||||
Stock-based compensation | |||||||||||||||||||||||||||||
Stock repurchased and retired | ( | ( | ( | ||||||||||||||||||||||||||
Issuances of common stock under stock plans | |||||||||||||||||||||||||||||
Cash dividends on common stock ($ | ( | ( | |||||||||||||||||||||||||||
Balance at June 30, 2021 | $ | $ | ( | $ | $ | ||||||||||||||||||||||||
Net income | |||||||||||||||||||||||||||||
Other comprehensive loss, net of tax | ( | ( | |||||||||||||||||||||||||||
Stock-based compensation | |||||||||||||||||||||||||||||
Stock repurchased and retired | ( | ( | ( | ||||||||||||||||||||||||||
Issuances of common stock under stock plans | |||||||||||||||||||||||||||||
Cash dividends on common stock ($ | ( | ( | |||||||||||||||||||||||||||
Balance at September 30, 2021 | $ | $ | ( | $ | $ |
Nine Months Ended | |||||||||||
(in thousands) | September 30, 2021 | September 30, 2020 | |||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||
Net income (loss) | $ | $ | ( | ||||||||
Adjustments to reconcile net income to net cash used in operating activities: | |||||||||||
Goodwill impairment | |||||||||||
Amortization of investment premiums, net | |||||||||||
Gain on sale of investment securities, net | ( | ( | |||||||||
(Recapture) provision for credit losses | ( | ||||||||||
Change in cash surrender value of bank owned life insurance | ( | ( | |||||||||
Depreciation, amortization and accretion | |||||||||||
Loss (gain) on sale of premises and equipment | ( | ||||||||||
Gain on store divestiture | ( | ||||||||||
Additions to residential mortgage servicing rights carried at fair value | ( | ( | |||||||||
Change in fair value of residential mortgage servicing rights carried at fair value | |||||||||||
Stock-based compensation | |||||||||||
Net decrease (increase) in equity and other investments | ( | ||||||||||
Loss (gain) on equity securities, net | ( | ||||||||||
Gain on sale of loans and leases, net | ( | ( | |||||||||
Change in fair value of loans held for sale | ( | ||||||||||
Origination of loans held for sale | ( | ( | |||||||||
Proceeds from sales of loans held for sale | |||||||||||
Change in other assets and liabilities: | |||||||||||
Net decrease (increase) in other assets | ( | ||||||||||
Net decrease in other liabilities | ( | ( | |||||||||
Net cash provided by (used in) operating activities | ( | ||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||||
Purchases of investment securities available for sale | ( | ( | |||||||||
Proceeds from investment securities available for sale | |||||||||||
Purchases of restricted equity securities | ( | ( | |||||||||
Redemption of restricted equity securities | |||||||||||
Net change in loans and leases | ( | ( | |||||||||
Proceeds from sales of loans and leases | |||||||||||
Change in premises and equipment | ( | ( | |||||||||
Proceeds from bank owned life insurance death benefits | |||||||||||
Net cash received from sale of Umpqua Investments, Inc. | |||||||||||
Net cash paid in store divestiture | ( | ||||||||||
Other | |||||||||||
Net cash used in investing activities | $ | ( | $ | ( | |||||||
UMPQUA HOLDINGS CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued) (UNAUDITED) | |||||||||||
Nine Months Ended | |||||||||||
(in thousands) | September 30, 2021 | September 30, 2020 | |||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||
Net increase in deposit liabilities | $ | $ | |||||||||
Net increase in securities sold under agreements to repurchase | |||||||||||
Proceeds from borrowings | |||||||||||
Repayment of borrowings | ( | ( | |||||||||
Net proceeds from issuance of common stock | |||||||||||
Dividends paid on common stock | ( | ( | |||||||||
Repurchase and retirement of common stock | ( | ( | |||||||||
Net cash provided by financing activities | |||||||||||
Net increase in cash and cash equivalents | |||||||||||
Cash and cash equivalents, beginning of period | |||||||||||
Cash and cash equivalents, end of period | $ | $ | |||||||||
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | |||||||||||
Cash paid during the period for: | |||||||||||
Interest | $ | $ | |||||||||
Income taxes | $ | $ | |||||||||
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES: | |||||||||||
Changes in unrealized gains and losses on investment securities available for sale, net of taxes | $ | ( | $ | ||||||||
Changes in unrealized gains and losses on junior subordinated debentures carried at fair value, net of taxes | $ | ( | $ | ||||||||
Cumulative effect adjustment to retained earnings | $ | $ | |||||||||
Transfer of loans to loans held for sale | $ | $ | |||||||||
Transfer of loans held for sale to loans | $ | $ | |||||||||
Change in GNMA mortgage loans recognized due to repurchase option | $ | $ | |||||||||
September 30, 2021 | |||||||||||||||||||||||
(in thousands) | Amortized Cost | Unrealized Gains | Unrealized Losses | Fair Value | |||||||||||||||||||
Available for sale: | |||||||||||||||||||||||
U.S. Treasury and agencies | $ | $ | $ | ( | $ | ||||||||||||||||||
Obligations of states and political subdivisions | ( | ||||||||||||||||||||||
Residential mortgage-backed securities and collateralized mortgage obligations | ( | ||||||||||||||||||||||
Total available for sale securities | $ | $ | $ | ( | $ | ||||||||||||||||||
Held to maturity: | |||||||||||||||||||||||
Residential mortgage-backed securities and collateralized mortgage obligations | $ | $ | $ | $ | |||||||||||||||||||
Total held to maturity securities | $ | $ | $ | $ |
December 31, 2020 | |||||||||||||||||||||||
(in thousands) | Amortized Cost | Unrealized Gains | Unrealized Losses | Fair Value | |||||||||||||||||||
Available for sale: | |||||||||||||||||||||||
U.S. Treasury and agencies | $ | $ | $ | ( | $ | ||||||||||||||||||
Obligations of states and political subdivisions | ( | ||||||||||||||||||||||
Residential mortgage-backed securities and collateralized mortgage obligations | ( | ||||||||||||||||||||||
Total available for sale securities | $ | $ | $ | ( | $ | ||||||||||||||||||
Held to maturity: | |||||||||||||||||||||||
Residential mortgage-backed securities and collateralized mortgage obligations | $ | $ | $ | $ | |||||||||||||||||||
Total held to maturity securities | $ | $ | $ | $ |
September 30, 2021 | |||||||||||||||||||||||||||||||||||
Less than 12 Months | 12 Months or Longer | Total | |||||||||||||||||||||||||||||||||
(in thousands) | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | |||||||||||||||||||||||||||||
Available for sale: | |||||||||||||||||||||||||||||||||||
U.S. Treasury and agencies | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||
Obligations of states and political subdivisions | |||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities and collateralized mortgage obligations | |||||||||||||||||||||||||||||||||||
Total temporarily impaired securities | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||
December 31, 2020 | |||||||||||||||||||||||||||||||||||
Less than 12 Months | 12 Months or Longer | Total | |||||||||||||||||||||||||||||||||
(in thousands) | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | |||||||||||||||||||||||||||||
Available for sale: | |||||||||||||||||||||||||||||||||||
U.S. Treasury and agencies | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||
Obligations of states and political subdivisions | |||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities and collateralized mortgage obligations | |||||||||||||||||||||||||||||||||||
Total temporarily impaired securities | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||
Available For Sale | Held To Maturity | ||||||||||||||||||||||
(in thousands) | Amortized Cost | Fair Value | Amortized Cost | Fair Value | |||||||||||||||||||
Due within one year | $ | $ | $ | $ | |||||||||||||||||||
Due after one year through five years | |||||||||||||||||||||||
Due after five years through ten years | |||||||||||||||||||||||
Due after ten years | |||||||||||||||||||||||
Total securities | $ | $ | $ | $ |
(in thousands) | Amortized Cost | Fair Value | |||||||||
To state and local governments to secure public deposits | $ | $ | |||||||||
Other securities pledged principally to secure repurchase agreements | |||||||||||
Total pledged securities | $ | $ |
(in thousands) | September 30, 2021 | December 31, 2020 | |||||||||
Commercial real estate | |||||||||||
Non-owner occupied term, net | $ | $ | |||||||||
Owner occupied term, net | |||||||||||
Multifamily, net | |||||||||||
Construction & development, net | |||||||||||
Residential development, net | |||||||||||
Commercial | |||||||||||
Term, net | |||||||||||
Lines of credit & other, net | |||||||||||
Leases & equipment finance, net | |||||||||||
Residential | |||||||||||
Mortgage, net | |||||||||||
Home equity loans & lines, net | |||||||||||
Consumer & other, net | |||||||||||
Total loans and leases, net of deferred fees and costs | $ | $ |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
(in thousands) | September 30, 2021 | September 30, 2020 | September 30, 2021 | September 30, 2020 | |||||||||||||||||||
Commercial real estate | |||||||||||||||||||||||
Non-owner occupied term, net | $ | $ | $ | $ | |||||||||||||||||||
Owner occupied term, net | |||||||||||||||||||||||
Multifamily, net | |||||||||||||||||||||||
Commercial | |||||||||||||||||||||||
Term, net | |||||||||||||||||||||||
Lines of credit & other, net | |||||||||||||||||||||||
Leases & equipment finance, net | |||||||||||||||||||||||
Residential | |||||||||||||||||||||||
Mortgage, net | |||||||||||||||||||||||
Consumer & other | |||||||||||||||||||||||
Total loans and leases sold, net | $ | $ | $ | $ |
Three Months Ended September 30, 2021 | ||||||||||||||||||||||||||||||||
(in thousands) | Commercial Real Estate | Commercial | Residential | Consumer & Other | Total | |||||||||||||||||||||||||||
Allowance for credit losses on loans and leases | ||||||||||||||||||||||||||||||||
Balance, beginning of period | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
(Recapture) provision for credit losses for loans and leases | ( | ( | ( | |||||||||||||||||||||||||||||
Charge-offs | ( | ( | ( | ( | ||||||||||||||||||||||||||||
Recoveries | ||||||||||||||||||||||||||||||||
Net (charge-offs) recoveries | ( | ( | ( | ( | ||||||||||||||||||||||||||||
Balance, end of period | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
Reserve for unfunded commitments | ||||||||||||||||||||||||||||||||
Balance, beginning of period | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
(Recapture) provision for credit losses on unfunded commitments | ( | ( | ( | |||||||||||||||||||||||||||||
Balance, end of period | ||||||||||||||||||||||||||||||||
Total allowance for credit losses | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
Nine Months Ended September 30, 2021 | ||||||||||||||||||||||||||||||||
(in thousands) | Commercial Real Estate | Commercial | Residential | Consumer & Other | Total | |||||||||||||||||||||||||||
Allowance for credit losses on loans and leases | ||||||||||||||||||||||||||||||||
Balance, beginning of period | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
(Recapture) provision for credit losses for loans and leases | ( | ( | ( | ( | ||||||||||||||||||||||||||||
Charge-offs | ( | ( | ( | ( | ( | |||||||||||||||||||||||||||
Recoveries | ||||||||||||||||||||||||||||||||
Net (charge-offs) recoveries | ( | ( | ( | ( | ||||||||||||||||||||||||||||
Balance, end of period | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
Reserve for unfunded commitments | ||||||||||||||||||||||||||||||||
Balance, beginning of period | ||||||||||||||||||||||||||||||||
(Recapture) provision for credit losses on unfunded commitments | ( | ( | ( | |||||||||||||||||||||||||||||
Balance, end of period | ||||||||||||||||||||||||||||||||
Total allowance for credit losses | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
Three Months Ended September 30, 2020 | ||||||||||||||||||||||||||||||||
(in thousands) | Commercial Real Estate | Commercial | Residential | Consumer & Other | Total | |||||||||||||||||||||||||||
Allowance for credit losses on loans and leases | ||||||||||||||||||||||||||||||||
Balance, beginning of period | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
(Recapture) provision for credit losses for loans and leases | ( | ( | ||||||||||||||||||||||||||||||
Charge-offs | ( | ( | ( | ( | ||||||||||||||||||||||||||||
Recoveries | ||||||||||||||||||||||||||||||||
Net recoveries (charge-offs) | ( | ( | ( | |||||||||||||||||||||||||||||
Balance, end of period | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
Reserve for unfunded commitments | ||||||||||||||||||||||||||||||||
Balance, beginning of period | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
(Recapture) provision for credit losses on unfunded commitments | ( | ( | ( | ( | ||||||||||||||||||||||||||||
Balance, end of period | ||||||||||||||||||||||||||||||||
Total allowance for credit losses | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
Nine Months Ended September 30, 2020 | ||||||||||||||||||||||||||||||||
(in thousands) | Commercial Real Estate | Commercial | Residential | Consumer & Other | Total | |||||||||||||||||||||||||||
Allowance for credit losses on loans and leases | ||||||||||||||||||||||||||||||||
Balance, beginning of period | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
Impact of CECL adoption | ( | |||||||||||||||||||||||||||||||
Adjusted balance, beginning of period | ||||||||||||||||||||||||||||||||
Provision for credit losses for loans and leases | ||||||||||||||||||||||||||||||||
Charge-offs | ( | ( | ( | ( | ||||||||||||||||||||||||||||
Recoveries | ||||||||||||||||||||||||||||||||
Net recoveries (charge-offs) | ( | ( | ( | |||||||||||||||||||||||||||||
Balance, end of period | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
Reserve for unfunded commitments | ||||||||||||||||||||||||||||||||
Balance, beginning of period | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
Impact of CECL adoption | ( | ( | ||||||||||||||||||||||||||||||
Adjusted balance, beginning of period | ||||||||||||||||||||||||||||||||
Provision (recapture) for credit losses on unfunded commitments | ( | |||||||||||||||||||||||||||||||
Balance, end of period | ||||||||||||||||||||||||||||||||
Total allowance for credit losses | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
(in thousands) | Total | ||||
Unfunded loan and lease commitments | |||||
September 30, 2021 | $ | ||||
September 30, 2020 | $ |
September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||
(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 | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||
Owner occupied term, net | |||||||||||||||||||||||||||||||||||||||||
Multifamily, net | |||||||||||||||||||||||||||||||||||||||||
Construction & development, net | |||||||||||||||||||||||||||||||||||||||||
Residential development, net | |||||||||||||||||||||||||||||||||||||||||
Commercial | |||||||||||||||||||||||||||||||||||||||||
Term, net | |||||||||||||||||||||||||||||||||||||||||
Lines of credit & other, net | |||||||||||||||||||||||||||||||||||||||||
Leases & equipment finance, net | |||||||||||||||||||||||||||||||||||||||||
Residential | |||||||||||||||||||||||||||||||||||||||||
Mortgage, net | |||||||||||||||||||||||||||||||||||||||||
Home equity loans & lines, net | |||||||||||||||||||||||||||||||||||||||||
Consumer & other, net | |||||||||||||||||||||||||||||||||||||||||
Total, net of deferred fees and costs | $ | $ | $ | $ | $ | $ | $ |
December 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 and Other | Total Loans and Leases | |||||||||||||||||||||||||||||||||||||
Commercial real estate | ||||||||||||||||||||||||||||||||||||||||||||
Non-owner occupied term, net | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||
Owner occupied term, net | ||||||||||||||||||||||||||||||||||||||||||||
Multifamily, net | ||||||||||||||||||||||||||||||||||||||||||||
Construction & development, net | ||||||||||||||||||||||||||||||||||||||||||||
Residential development, net | ||||||||||||||||||||||||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||||||||||||||||
Term, net | ||||||||||||||||||||||||||||||||||||||||||||
Lines of credit & other, net | ||||||||||||||||||||||||||||||||||||||||||||
Leases & equipment finance, net | ||||||||||||||||||||||||||||||||||||||||||||
Residential | ||||||||||||||||||||||||||||||||||||||||||||
Mortgage, net | ||||||||||||||||||||||||||||||||||||||||||||
Home equity loans & lines, net | ||||||||||||||||||||||||||||||||||||||||||||
Consumer & other, net | ||||||||||||||||||||||||||||||||||||||||||||
Total, net of deferred fees and costs | $ | $ | $ | $ | $ | $ | $ |
(in thousands) | Residential Real Estate | Commercial Real Estate | General Business Assets | Other | Total | |||||||||||||||||||||||||||
Commercial real estate | ||||||||||||||||||||||||||||||||
Non-owner occupied term, net | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
Owner occupied term, net | ||||||||||||||||||||||||||||||||
Commercial | ||||||||||||||||||||||||||||||||
Term, net | ||||||||||||||||||||||||||||||||
Line of credit & other, net | ||||||||||||||||||||||||||||||||
Leases & equipment finance, net | ||||||||||||||||||||||||||||||||
Residential | ||||||||||||||||||||||||||||||||
Mortgage, net | ||||||||||||||||||||||||||||||||
Home equity loans & lines, net | ||||||||||||||||||||||||||||||||
Total net of deferred fees and costs | $ | $ | $ | $ | $ |
September 30, 2021 | ||||||||||||||||||||||||||
(in thousands) | Accrual Status | Non-Accrual Status | Total Modification | # of Contracts | ||||||||||||||||||||||
Commercial real estate, net | $ | $ | $ | |||||||||||||||||||||||
Residential, net | ||||||||||||||||||||||||||
Consumer & other, net | ||||||||||||||||||||||||||
Total, net of deferred fees and costs | $ | $ | $ | |||||||||||||||||||||||
December 31, 2020 | ||||||||||||||||||||||||||
(in thousands) | Accrual Status | Non-Accrual Status | Total Modification | # of Contracts | ||||||||||||||||||||||
Commercial real estate, net | $ | $ | $ | |||||||||||||||||||||||
Commercial, net | ||||||||||||||||||||||||||
Residential, net | ||||||||||||||||||||||||||
Total, net of deferred fees and costs | $ | $ | $ |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
(in thousands) | September 30, 2021 | September 30, 2020 | September 30, 2021 | September 30, 2020 | |||||||||||||||||||
Commercial, net | $ | $ | $ | $ | |||||||||||||||||||
Residential, net | |||||||||||||||||||||||
Consumer & other, net | |||||||||||||||||||||||
Total, net of deferred fees and costs | $ | $ | $ | $ |
(in thousands) | Term Loans Amortized Cost Basis by Origination Year | Revolving Loans Amortized Cost Basis | Revolving to Non-Revolving Loans Amortized Cost | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2021 | 2021 | 2020 | 2019 | 2018 | 2017 | Prior | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-owner occupied term, net | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit quality indicator: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass/Watch | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total non-owner occupied term, net | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Owner occupied term, net | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit quality indicator: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass/Watch | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total owner occupied term, net | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Multifamily, net | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit quality indicator: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass/Watch | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total multifamily, net | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Construction & development, net | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit quality indicator: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass/Watch | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total construction & development, net | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Residential development, net | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit quality indicator: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass/Watch | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total residential development, net | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total commercial real estate | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Term Loans Amortized Cost Basis by Origination Year | Revolving Loans Amortized Cost Basis | Revolving to Non-Revolving Loans Amortized Cost | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2021 | 2021 | 2020 | 2019 | 2018 | 2017 | Prior | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Term, net | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit quality indicator: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass/Watch | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total term, net | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Lines of credit & other, net | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit quality indicator: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass/Watch | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total lines of credit & other, net | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Leases & equipment finance, net | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit quality indicator: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass/Watch | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total leases & equipment finance, net | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total commercial | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Residential: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mortgage, net | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit quality indicator: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass/Watch | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total mortgage, net | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity loans & lines, net | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit quality indicator: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass/Watch | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total home equity loans & lines, net | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total residential | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Term Loans Amortized Cost Basis by Origination Year | Revolving Loans Amortized Cost Basis | Revolving to Non-Revolving Loans Amortized Cost | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2021 | 2021 | 2020 | 2019 | 2018 | 2017 | Prior | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer & other, net: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit quality indicator: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass/Watch | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total consumer & other, net | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Grand total | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Term Loans Amortized Cost Basis by Origination Year | Revolving Loans Amortized Cost Basis | Revolving to Non-Revolving Loans Amortized Cost | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2020 | 2020 | 2019 | 2018 | 2017 | 2016 | Prior | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-owner occupied term, net | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit quality indicator: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass/Watch | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total non-owner occupied term, net | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Owner occupied term, net | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit quality indicator: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass/Watch | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total owner occupied term, net | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Multifamily, net | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit quality indicator: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass/Watch | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total multifamily, net | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Term Loans Amortized Cost Basis by Origination Year | Revolving Loans Amortized Cost Basis | Revolving to Non-Revolving Loans Amortized Cost | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2020 | 2020 | 2019 | 2018 | 2017 | 2016 | Prior | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction & development, net | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit quality indicator: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass/Watch | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total construction & development, net | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Residential development, net | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit quality indicator: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass/Watch | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total residential development, net | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total commercial real estate | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Term, net | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit quality indicator: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass/Watch | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total term, net | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Lines of credit & other, net | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit quality indicator: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass/Watch | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total lines of credit & other, net | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Leases & equipment finance, net | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit quality indicator: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass/Watch | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total leases & equipment finance, net | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total commercial | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | Term Loans Amortized Cost Basis by Origination Year | Revolving Loans Amortized Cost Basis | Revolving to Non-Revolving Loans Amortized Cost | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2020 | 2020 | 2019 | 2018 | 2017 | 2016 | Prior | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mortgage, net | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit quality indicator: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass/Watch | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total mortgage, net | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity loans & lines, net | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit quality indicator: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass/Watch | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total home equity loans & lines, net | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total residential | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer & other, net: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Credit quality indicator: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass/Watch | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Special mention | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total consumer & other, net | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Grand total | $ | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
(in thousands) | September 30, 2021 | September 30, 2020 | September 30, 2021 | September 30, 2020 | |||||||||||||||||||
Balance, beginning of period | $ | $ | $ | $ | |||||||||||||||||||
Additions for new MSR capitalized | |||||||||||||||||||||||
Changes in fair value: | |||||||||||||||||||||||
Changes due to collection/realization of expected cash flows over time | ( | ( | ( | ( | |||||||||||||||||||
Changes due to valuation inputs or assumptions (1) | ( | ( | ( | ( | |||||||||||||||||||
Balance, end of period | $ | $ | $ | $ |
(dollars in thousands) | September 30, 2021 | December 31, 2020 | |||||||||
Balance of loans serviced for others | $ | $ | |||||||||
MSR as a percentage of serviced loans | % | % |
(in thousands) | September 30, 2021 | ||||
Commitments to extend credit | $ | ||||
Forward sales commitments | $ | ||||
Commitments to originate residential mortgage loans held for sale | $ | ||||
Standby letters of credit | $ |
(in thousands) | Asset Derivatives | Liability Derivatives | ||||||||||||||||||||||||
Derivatives not designated as hedging instrument | September 30, 2021 | December 31, 2020 | September 30, 2021 | December 31, 2020 | ||||||||||||||||||||||
Interest rate lock commitments | $ | $ | $ | $ | ||||||||||||||||||||||
Interest rate forward sales commitments | ||||||||||||||||||||||||||
Interest rate swaps | ||||||||||||||||||||||||||
Foreign currency derivatives | ||||||||||||||||||||||||||
Total derivative assets and liabilities | $ | $ | $ | $ |
(in thousands) | Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
Derivatives not designated as hedging instrument | September 30, 2021 | September 30, 2020 | September 30, 2021 | September 30, 2020 | ||||||||||||||||||||||
Interest rate lock commitments | $ | ( | $ | $ | ( | $ | ||||||||||||||||||||
Interest rate forward sales commitments | ( | ( | ( | |||||||||||||||||||||||
Interest rate swaps | ( | |||||||||||||||||||||||||
Foreign currency derivatives | ||||||||||||||||||||||||||
Total derivative gains (losses) | $ | ( | $ | ( | $ | $ | ( |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
(in thousands, except per share data) | September 30, 2021 | September 30, 2020 | September 30, 2021 | September 30, 2020 | |||||||||||||||||||
Net income (loss) | $ | $ | $ | $ | ( | ||||||||||||||||||
Weighted average number of common shares outstanding - basic | |||||||||||||||||||||||
Effect of potentially dilutive common shares (1) | |||||||||||||||||||||||
Weighted average number of common shares outstanding - diluted | |||||||||||||||||||||||
Earnings (loss) per common share: | |||||||||||||||||||||||
Basic | $ | $ | $ | $ | ( | ||||||||||||||||||
Diluted | $ | $ | $ | $ | ( |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
(in thousands) | September 30, 2021 | September 30, 2020 | September 30, 2021 | September 30, 2020 | |||||||||||||||||||
Restricted stock awards |
Three Months Ended September 30, 2021 | Three Months Ended September 30, 2020 | |||||||||||||||||||||||||||||||||||||
(in thousands) | Core Banking | Mortgage Banking | Consolidated | Core Banking | Mortgage Banking | Consolidated | ||||||||||||||||||||||||||||||||
Net interest income | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||
(Recapture) provision for credit losses | ( | ( | ( | ( | ||||||||||||||||||||||||||||||||||
Non-interest income | ||||||||||||||||||||||||||||||||||||||
Residential mortgage banking revenue: | ||||||||||||||||||||||||||||||||||||||
Origination and sale | ||||||||||||||||||||||||||||||||||||||
Servicing | ||||||||||||||||||||||||||||||||||||||
Change in fair value of MSR asset: | ||||||||||||||||||||||||||||||||||||||
Changes due to collection/realization of expected cash flows over time | ( | ( | ( | ( | ||||||||||||||||||||||||||||||||||
Changes due to valuation inputs or assumptions | ( | ( | ( | ( | ||||||||||||||||||||||||||||||||||
Loss on equity securities, net | ( | ( | ( | ( | ||||||||||||||||||||||||||||||||||
Gain on swap derivatives, net | ||||||||||||||||||||||||||||||||||||||
Non-interest income (excluding above items) | ||||||||||||||||||||||||||||||||||||||
Total non-interest income | ||||||||||||||||||||||||||||||||||||||
Non-interest expense | ||||||||||||||||||||||||||||||||||||||
Exit and disposal costs | ||||||||||||||||||||||||||||||||||||||
Non-interest expense (excluding above items) | ||||||||||||||||||||||||||||||||||||||
Allocated expenses, net (1) | ( | ( | ||||||||||||||||||||||||||||||||||||
Total non-interest expense | ||||||||||||||||||||||||||||||||||||||
Income before income taxes | ||||||||||||||||||||||||||||||||||||||
Provision for income taxes | ||||||||||||||||||||||||||||||||||||||
Net income | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||
(1) Represents the internal charge of centrally provided support services and other corporate overhead to the Mortgage Banking segment, partially offset by allocations from the Mortgage Banking segment to Core Banking for new portfolio loan originations and portfolio servicing costs. |
Nine Months Ended September 30, 2021 | Nine Months Ended September 30, 2020 | |||||||||||||||||||||||||||||||||||||
(in thousands) | Core Banking | Mortgage Banking | Consolidated | Core Banking | Mortgage Banking | Consolidated | ||||||||||||||||||||||||||||||||
Net interest income | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||
(Recapture) provision for credit losses | ( | ( | ||||||||||||||||||||||||||||||||||||
Non-interest income | ||||||||||||||||||||||||||||||||||||||
Residential mortgage banking revenue: | ||||||||||||||||||||||||||||||||||||||
Origination and sale | ||||||||||||||||||||||||||||||||||||||
Servicing | ||||||||||||||||||||||||||||||||||||||
Change in fair value of MSR asset: | ||||||||||||||||||||||||||||||||||||||
Changes due to collection/realization of expected cash flows over time | ( | ( | ( | ( | ||||||||||||||||||||||||||||||||||
Changes due to valuation inputs or assumptions | ( | ( | ( | ( | ||||||||||||||||||||||||||||||||||
Gain on sale of debt securities, net | ||||||||||||||||||||||||||||||||||||||
(Loss) gain on equity securities, net | ( | ( | ||||||||||||||||||||||||||||||||||||
Gain (loss) on swap derivatives, net | ( | ( | ||||||||||||||||||||||||||||||||||||
Non-interest income (excluding above items) | ||||||||||||||||||||||||||||||||||||||
Total non-interest income | ||||||||||||||||||||||||||||||||||||||
Non-interest expense | ||||||||||||||||||||||||||||||||||||||
Goodwill impairment | ||||||||||||||||||||||||||||||||||||||
Exit and disposal costs | ||||||||||||||||||||||||||||||||||||||
Non-interest expense (excluding above items) | ||||||||||||||||||||||||||||||||||||||
Allocated expenses, net (1) | ( | ( | ||||||||||||||||||||||||||||||||||||
Total non-interest expense | ||||||||||||||||||||||||||||||||||||||
Income (loss) before income taxes | ( | ( | ||||||||||||||||||||||||||||||||||||
Provision for income taxes | ||||||||||||||||||||||||||||||||||||||
Net income (loss) | $ | $ | $ | $ | ( | $ | $ | ( | ||||||||||||||||||||||||||||||
(1) Represents the internal charge of centrally provided support services and other corporate overhead to the Mortgage Banking segment, partially offset by allocations from the Mortgage Banking segment to Core Banking for new portfolio loan originations and portfolio servicing costs. |
September 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||
(in thousands) | Core Banking | Mortgage Banking | Consolidated | Core Banking | Mortgage Banking | Consolidated | ||||||||||||||||||||||||||||||||
Total assets | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||
Loans held for sale | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||
Total loans and leases | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||
Total deposits | $ | $ | $ | $ | $ | $ |
September 30, 2021 | December 31, 2020 | ||||||||||||||||||||||||||||
(in thousands) | Level | Carrying Value | Fair Value | Carrying Value | Fair Value | ||||||||||||||||||||||||
Financial assets: | |||||||||||||||||||||||||||||
Cash and cash equivalents | 1 | $ | $ | $ | $ | ||||||||||||||||||||||||
Equity and other investment securities | 1,2 | ||||||||||||||||||||||||||||
Investment securities available for sale | 2 | ||||||||||||||||||||||||||||
Investment securities held to maturity | 3 | ||||||||||||||||||||||||||||
Loans held for sale | 2 | ||||||||||||||||||||||||||||
Loans and leases, net | 2,3 | ||||||||||||||||||||||||||||
Restricted equity securities | 1 | ||||||||||||||||||||||||||||
Residential mortgage servicing rights | 3 | ||||||||||||||||||||||||||||
Bank owned life insurance | 1 | ||||||||||||||||||||||||||||
Derivatives | 2,3 | ||||||||||||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||||||||||
Deposits | 1,2 | $ | $ | $ | $ | ||||||||||||||||||||||||
Securities sold under agreements to repurchase | 2 | ||||||||||||||||||||||||||||
Borrowings | 2 | ||||||||||||||||||||||||||||
Junior subordinated debentures, at fair value | 3 | ||||||||||||||||||||||||||||
Junior subordinated debentures, at amortized cost | 3 | ||||||||||||||||||||||||||||
Derivatives | 2 |
(in thousands) | September 30, 2021 | ||||||||||||||||||||||
Description | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||
Financial assets: | |||||||||||||||||||||||
Equity and other investment securities | |||||||||||||||||||||||
Investments in mutual funds and other securities | $ | $ | $ | $ | |||||||||||||||||||
Equity securities held in rabbi trusts | |||||||||||||||||||||||
Investment securities available for sale | |||||||||||||||||||||||
U.S. Treasury and agencies | |||||||||||||||||||||||
Obligations of states and political subdivisions | |||||||||||||||||||||||
Residential mortgage-backed securities and collateralized mortgage obligations | |||||||||||||||||||||||
Loans held for sale, at fair value | |||||||||||||||||||||||
Loans and leases, at fair value | |||||||||||||||||||||||
Residential mortgage servicing rights, at fair value | |||||||||||||||||||||||
Derivatives | |||||||||||||||||||||||
Interest rate lock commitments | |||||||||||||||||||||||
Interest rate forward sales commitments | |||||||||||||||||||||||
Interest rate swaps | |||||||||||||||||||||||
Foreign currency derivative | |||||||||||||||||||||||
Total assets measured at fair value | $ | $ | $ | $ | |||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||||
Junior subordinated debentures, at fair value | $ | $ | $ | $ | |||||||||||||||||||
Derivatives | |||||||||||||||||||||||
Interest rate forward sales commitments | |||||||||||||||||||||||
Interest rate swaps | |||||||||||||||||||||||
Foreign currency derivative | |||||||||||||||||||||||
Total liabilities measured at fair value | $ | $ | $ | $ |
(in thousands) | December 31, 2020 | ||||||||||||||||||||||
Description | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||
Financial assets: | |||||||||||||||||||||||
Equity and other investment securities | |||||||||||||||||||||||
Investments in mutual funds and other securities | $ | $ | $ | $ | |||||||||||||||||||
Equity securities held in rabbi trusts | |||||||||||||||||||||||
Other investments securities (1) | |||||||||||||||||||||||
Investment securities available for sale | |||||||||||||||||||||||
U.S. Treasury and agencies | |||||||||||||||||||||||
Obligations of states and political subdivisions | |||||||||||||||||||||||
Residential mortgage-backed securities and collateralized mortgage obligations | |||||||||||||||||||||||
Loans held for sale, at fair value | |||||||||||||||||||||||
Residential mortgage servicing rights, at fair value | |||||||||||||||||||||||
Derivatives | |||||||||||||||||||||||
Interest rate lock commitments | |||||||||||||||||||||||
Interest rate forward sales commitments | |||||||||||||||||||||||
Interest rate swaps | |||||||||||||||||||||||
Foreign currency derivative | |||||||||||||||||||||||
Total assets measured at fair value | $ | $ | $ | $ | |||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||||
Junior subordinated debentures, at fair value | $ | $ | $ | $ | |||||||||||||||||||
Derivatives | |||||||||||||||||||||||
Interest rate forward sales commitments | |||||||||||||||||||||||
Interest rate swaps | |||||||||||||||||||||||
Foreign currency derivative | |||||||||||||||||||||||
Total liabilities measured at fair value | $ | $ | $ | $ |
Financial Instrument | Fair Value (in thousands) | Valuation Technique | Unobservable Input | Range of Inputs | Weighted Average | |||||||||||||||||||||||||||
Residential mortgage servicing rights | $ | Discounted cash flow | ||||||||||||||||||||||||||||||
Constant prepayment rate | ||||||||||||||||||||||||||||||||
Discount rate | ||||||||||||||||||||||||||||||||
Interest rate lock commitments | $ | Internal pricing model | ||||||||||||||||||||||||||||||
Pull-through rate | ||||||||||||||||||||||||||||||||
Junior subordinated debentures | $ | Discounted cash flow | ||||||||||||||||||||||||||||||
Credit spread |
Three Months Ended | Three Months Ended | ||||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2020 | ||||||||||||||||||||||||||||||||||
(in thousands) | Residential mortgage servicing rights | Interest rate lock commitments, net | Junior subordinated debentures, at fair value | Residential mortgage servicing rights | Interest rate lock commitments, net | Junior subordinated debentures, at fair value | |||||||||||||||||||||||||||||
Beginning balance | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||
Change included in earnings | ( | ( | |||||||||||||||||||||||||||||||||
Change in fair values included in comprehensive income/loss | |||||||||||||||||||||||||||||||||||
Purchases and issuances | |||||||||||||||||||||||||||||||||||
Sales and settlements | ( | ( | ( | ( | |||||||||||||||||||||||||||||||
Ending balance | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||
Change in unrealized gains or losses for the period included in earnings for assets and liabilities held at end of period | $ | ( | $ | $ | $ | ( | $ | $ | |||||||||||||||||||||||||||
Change in unrealized gains or losses for the period included in other comprehensive income for assets and liabilities held at end of period | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||
Nine Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2020 | ||||||||||||||||||||||||||||||||||
(in thousands) | Residential mortgage servicing rights | Interest rate lock commitments, net | Junior subordinated debentures, at fair value | Residential mortgage servicing rights | Interest rate lock commitments, net | Junior subordinated debentures, at fair value | |||||||||||||||||||||||||||||
Beginning Balance | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||
Change included in earnings | ( | ( | |||||||||||||||||||||||||||||||||
Change in fair values included in comprehensive income/loss | ( | ||||||||||||||||||||||||||||||||||
Purchases and issuances | |||||||||||||||||||||||||||||||||||
Sales and settlements | ( | ( | ( | ( | |||||||||||||||||||||||||||||||
Ending Balance | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||
Change in unrealized gains or losses for the period included in earnings for assets held at end of period | $ | ( | $ | $ | $ | ( | $ | $ | |||||||||||||||||||||||||||
Change in unrealized gains or losses for the period included in other comprehensive income for assets held at end of period | $ | $ | $ | $ | $ | $ | ( | ||||||||||||||||||||||||||||
September 30, 2021 | |||||||||||||||||||||||
(in thousands) | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||
Loans and leases | $ | $ | $ | $ | |||||||||||||||||||
Total assets measured at fair value on a nonrecurring basis | $ | $ | $ | $ |
December 31, 2020 | |||||||||||||||||||||||
(in thousands) | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||
Loans and leases | $ | $ | $ | $ | |||||||||||||||||||
Total assets measured at fair value on a nonrecurring basis | $ | $ | $ | $ |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
(in thousands) | September 30, 2021 | September 30, 2020 | September 30, 2021 | September 30, 2020 | |||||||||||||||||||
Loans and leases | $ | $ | $ | $ | |||||||||||||||||||
Goodwill impairment | |||||||||||||||||||||||
Total loss from nonrecurring measurements | $ | $ | $ | $ |
September 30, 2021 | December 31, 2020 | ||||||||||||||||||||||||||||||||||
(in thousands) | Fair Value | Aggregate Unpaid Principal Balance | Fair Value Less Aggregate Unpaid Principal Balance | Fair Value | Aggregate Unpaid Principal Balance | Fair Value Less Aggregate Unpaid Principal Balance | |||||||||||||||||||||||||||||
Loans held for sale | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||
Loans | $ | $ | $ | $ | $ | $ |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
(dollars in thousands) | September 30, 2021 | June 30, 2021 | September 30, 2021 | September 30, 2020 | |||||||||||||||||||
Return on average assets | 1.40 | % | 1.54 | % | 1.48 | % | (7.67) | % | |||||||||||||||
Return on average common shareholders' equity | 15.82 | % | 17.25 | % | 16.47 | % | (72.01) | % | |||||||||||||||
Return on average tangible common shareholders' equity | 15.88 | % | 17.33 | % | 16.55 | % | (89.45) | % | |||||||||||||||
Calculation of average common tangible shareholders' equity: | |||||||||||||||||||||||
Average common shareholders' equity | $ | 2,709,641 | $ | 2,700,010 | $ | 2,694,968 | $ | 3,105,611 | |||||||||||||||
Less: average goodwill and other intangible assets, net | (10,609) | (12,615) | (12,922) | (605,548) | |||||||||||||||||||
Average tangible common shareholders' equity | $ | 2,699,032 | $ | 2,687,395 | $ | 2,682,046 | $ | 2,500,063 | |||||||||||||||
(dollars in thousands) | September 30, 2021 | December 31, 2020 | |||||||||
Total shareholders' equity | $ | 2,722,379 | $ | 2,704,577 | |||||||
Subtract: | |||||||||||
Goodwill | — | 2,715 | |||||||||
Other intangible assets, net | 9,970 | 13,360 | |||||||||
Tangible common shareholders' equity | $ | 2,712,409 | $ | 2,688,502 | |||||||
Total assets | $ | 30,891,479 | $ | 29,235,175 | |||||||
Subtract: | |||||||||||
Goodwill | — | 2,715 | |||||||||
Other intangible assets, net | 9,970 | 13,360 | |||||||||
Tangible assets | $ | 30,881,509 | $ | 29,219,100 | |||||||
Tangible common equity ratio | 8.78 | % | 9.20 | % |
Three Months Ended | |||||||||||||||||||||||||||||||||||
September 30, 2021 | June 30, 2021 | ||||||||||||||||||||||||||||||||||
(dollars in thousands) | Average Balance | Interest Income or Expense | Average Yields or Rates | Average Balance | Interest Income or Expense | Average Yields or Rates | |||||||||||||||||||||||||||||
INTEREST-EARNING ASSETS: | |||||||||||||||||||||||||||||||||||
Loans held for sale | $ | 465,805 | $ | 3,672 | 3.15 | % | $ | 468,960 | $ | 3,725 | 3.18 | % | |||||||||||||||||||||||
Loans and leases (1) | 21,864,387 | 220,731 | 4.02 | % | 22,040,794 | 219,745 | 3.99 | % | |||||||||||||||||||||||||||
Taxable securities | 3,436,895 | 16,315 | 1.90 | % | 3,210,771 | 15,024 | 1.87 | % | |||||||||||||||||||||||||||
Non-taxable securities (2) | 245,904 | 1,848 | 3.01 | % | 247,282 | 1,864 | 3.02 | % | |||||||||||||||||||||||||||
Temporary investments and interest-bearing cash | 3,224,846 | 1,237 | 0.15 | % | 2,835,474 | 774 | 0.11 | % | |||||||||||||||||||||||||||
Total interest-earning assets | 29,237,837 | $ | 243,803 | 3.32 | % | 28,803,281 | $ | 241,132 | 3.35 | % | |||||||||||||||||||||||||
Other assets | 1,376,537 | 1,352,736 | |||||||||||||||||||||||||||||||||
Total assets | $ | 30,614,374 | $ | 30,156,017 | |||||||||||||||||||||||||||||||
INTEREST-BEARING LIABILITIES: | |||||||||||||||||||||||||||||||||||
Interest-bearing demand deposits | $ | 3,564,040 | $ | 468 | 0.05 | % | $ | 3,385,336 | $ | 459 | 0.05 | % | |||||||||||||||||||||||
Money market deposits | 7,800,144 | 1,492 | 0.08 | % | 7,614,474 | 1,533 | 0.08 | % | |||||||||||||||||||||||||||
Savings deposits | 2,284,077 | 206 | 0.04 | % | 2,171,865 | 154 | 0.03 | % | |||||||||||||||||||||||||||
Time deposits | 2,031,494 | 2,934 | 0.57 | % | 2,303,068 | 4,870 | 0.85 | % | |||||||||||||||||||||||||||
Total interest-bearing deposits | 15,679,755 | 5,100 | 0.13 | % | 15,474,743 | 7,016 | 0.18 | % | |||||||||||||||||||||||||||
Repurchase agreements and federal funds purchased | 496,822 | 88 | 0.07 | % | 440,881 | 68 | 0.06 | % | |||||||||||||||||||||||||||
Borrowings | 31,500 | 149 | 1.88 | % | 214,670 | 866 | 1.62 | % | |||||||||||||||||||||||||||
Junior subordinated debentures | 375,726 | 3,014 | 3.18 | % | 369,812 | 3,042 | 3.30 | % | |||||||||||||||||||||||||||
Total interest-bearing liabilities | 16,583,803 | $ | 8,351 | 0.20 | % | 16,500,106 | $ | 10,992 | 0.27 | % | |||||||||||||||||||||||||
Non-interest-bearing deposits | 10,960,686 | 10,582,197 | |||||||||||||||||||||||||||||||||
Other liabilities | 360,244 | 373,704 | |||||||||||||||||||||||||||||||||
Total liabilities | 27,904,733 | 27,456,007 | |||||||||||||||||||||||||||||||||
Common equity | 2,709,641 | 2,700,010 | |||||||||||||||||||||||||||||||||
Total liabilities and shareholders' equity | $ | 30,614,374 | $ | 30,156,017 | |||||||||||||||||||||||||||||||
NET INTEREST INCOME | $ | 235,452 | $ | 230,140 | |||||||||||||||||||||||||||||||
NET INTEREST SPREAD | 3.12 | % | 3.08 | % | |||||||||||||||||||||||||||||||
NET INTEREST INCOME TO EARNING ASSETS OR NET INTEREST MARGIN (1), (2) | 3.21 | % | 3.20 | % | |||||||||||||||||||||||||||||||
(1)Non-accrual loans and leases are included in the average balance. (2)Tax-exempt income has been adjusted to a tax equivalent basis at a 21% tax rate. The amount of such adjustment was an addition to recorded income of approximately $377,000 for the three months ended September 30, 2021, as compared to approximately $377,000 for the three months ended June 30, 2021. |
Nine Months Ended | |||||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2020 | ||||||||||||||||||||||||||||||||||
(dollars in thousands) | Average Balance | Interest Income or Expense | Average Yields or Rates | Average Balance | Interest Income or Expense | Average Yields or Rates | |||||||||||||||||||||||||||||
INTEREST-EARNING ASSETS: | |||||||||||||||||||||||||||||||||||
Loans held for sale | $ | 545,237 | $ | 12,242 | 2.99 | % | $ | 551,583 | $ | 14,955 | 3.61 | % | |||||||||||||||||||||||
Loans and leases (1) | 21,866,569 | 656,772 | 4.01 | % | 22,063,582 | 695,669 | 4.21 | % | |||||||||||||||||||||||||||
Taxable securities | 3,199,653 | 45,049 | 1.88 | % | 2,778,460 | 37,744 | 1.81 | % | |||||||||||||||||||||||||||
Non-taxable securities (2) | 248,617 | 5,627 | 3.02 | % | 238,059 | 5,608 | 3.14 | % | |||||||||||||||||||||||||||
Temporary investments and interest bearing cash | 2,850,639 | 2,635 | 0.12 | % | 1,493,352 | 4,208 | 0.38 | % | |||||||||||||||||||||||||||
Total interest-earning assets | 28,710,715 | $ | 722,325 | 3.36 | % | 27,125,036 | $ | 758,184 | 3.73 | % | |||||||||||||||||||||||||
Other assets | 1,348,054 | 2,024,722 | |||||||||||||||||||||||||||||||||
Total assets | $ | 30,058,769 | $ | 29,149,758 | |||||||||||||||||||||||||||||||
INTEREST-BEARING LIABILITIES: | |||||||||||||||||||||||||||||||||||
Interest-bearing demand deposits | $ | 3,359,865 | $ | 1,341 | 0.05 | % | $ | 2,667,160 | $ | 5,264 | 0.26 | % | |||||||||||||||||||||||
Money market deposits | 7,593,320 | 4,516 | 0.08 | % | 7,187,615 | 18,080 | 0.34 | % | |||||||||||||||||||||||||||
Savings deposits | 2,152,667 | 523 | 0.03 | % | 1,635,064 | 618 | 0.05 | % | |||||||||||||||||||||||||||
Time deposits | 2,336,261 | 16,414 | 0.94 | % | 4,159,926 | 61,671 | 1.98 | % | |||||||||||||||||||||||||||
Total interest-bearing deposits | 15,442,113 | 22,794 | 0.20 | % | 15,649,765 | 85,633 | 0.73 | % | |||||||||||||||||||||||||||
Repurchase agreements and federal funds purchased | 444,919 | 232 | 0.07 | % | 363,957 | 673 | 0.25 | % | |||||||||||||||||||||||||||
Borrowings | 259,890 | 2,787 | 1.43 | % | 1,041,181 | 11,156 | 1.43 | % | |||||||||||||||||||||||||||
Junior subordinated debentures | 363,122 | 9,108 | 3.35 | % | 322,356 | 12,074 | 5.00 | % | |||||||||||||||||||||||||||
Total interest-bearing liabilities | 16,510,044 | $ | 34,921 | 0.28 | % | 17,377,259 | $ | 109,536 | 0.84 | % | |||||||||||||||||||||||||
Non-interest-bearing deposits | 10,484,104 | 8,237,095 | |||||||||||||||||||||||||||||||||
Other liabilities | 369,653 | 429,793 | |||||||||||||||||||||||||||||||||
Total liabilities | 27,363,801 | 26,044,147 | |||||||||||||||||||||||||||||||||
Common equity | 2,694,968 | 3,105,611 | |||||||||||||||||||||||||||||||||
Total liabilities and shareholders' equity | $ | 30,058,769 | $ | 29,149,758 | |||||||||||||||||||||||||||||||
NET INTEREST INCOME | $ | 687,404 | $ | 648,648 | |||||||||||||||||||||||||||||||
NET INTEREST SPREAD | 3.08 | % | 2.89 | % | |||||||||||||||||||||||||||||||
NET INTEREST INCOME TO EARNING ASSETS OR NET INTEREST MARGIN (1), (2) | 3.20 | % | 3.19 | % | |||||||||||||||||||||||||||||||
(1)Non-accrual loans and leases are included in the average balance. (2)Tax-exempt income has been adjusted to a tax equivalent basis at a 21% tax rate. The amount of such adjustment was an addition to recorded income of approximately $1.1 million for the nine months ended September 30, 2021, as compared to approximately $1.0 million for the same period in 2020. |
Three Months Ended | |||||||||||||||||
September 30, 2021 compared June 30, 2021 | |||||||||||||||||
Increase (decrease) in interest income and expense due to changes in | |||||||||||||||||
(in thousands) | Volume | Rate | Total | ||||||||||||||
INTEREST-EARNING ASSETS: | |||||||||||||||||
Loans held for sale | $ | (25) | $ | (28) | $ | (53) | |||||||||||
Loans and leases | (1,065) | 2,051 | 986 | ||||||||||||||
Taxable securities | 1,073 | 218 | 1,291 | ||||||||||||||
Non-taxable securities (1) | (10) | (6) | (16) | ||||||||||||||
Temporary investments and interest bearing cash | 120 | 343 | 463 | ||||||||||||||
Total interest-earning assets (1) | 93 | 2,578 | 2,671 | ||||||||||||||
INTEREST-BEARING LIABILITIES: | |||||||||||||||||
Interest bearing demand deposits | 26 | (17) | 9 | ||||||||||||||
Money market deposits | 41 | (82) | (41) | ||||||||||||||
Savings deposits | 9 | 43 | 52 | ||||||||||||||
Time deposits | (516) | (1,420) | (1,936) | ||||||||||||||
Repurchase agreements | 10 | 10 | 20 | ||||||||||||||
Borrowings | (837) | 120 | (717) | ||||||||||||||
Junior subordinated debentures | 59 | (87) | (28) | ||||||||||||||
Total interest-bearing liabilities | (1,208) | (1,433) | (2,641) | ||||||||||||||
Net increase in net interest income (1) | $ | 1,301 | $ | 4,011 | $ | 5,312 | |||||||||||
(1) Tax exempt income has been adjusted to a tax equivalent basis at a 21% tax rate. |
Nine Months Ended | |||||||||||||||||
September 30, 2021 compared to September 30, 2020 | |||||||||||||||||
Increase (decrease) in interest income and expense due to changes in | |||||||||||||||||
(in thousands) | Volume | Rate | Total | ||||||||||||||
INTEREST-EARNING ASSETS: | |||||||||||||||||
Loans held for sale | $ | (170) | $ | (2,543) | $ | (2,713) | |||||||||||
Loans and leases | (6,219) | (32,678) | (38,897) | ||||||||||||||
Taxable securities | 5,880 | 1,425 | 7,305 | ||||||||||||||
Non-taxable securities (1) | 243 | (224) | 19 | ||||||||||||||
Temporary investments and interest bearing cash | 2,345 | (3,918) | (1,573) | ||||||||||||||
Total interest-earning assets (1) | 2,079 | (37,938) | (35,859) | ||||||||||||||
INTEREST-BEARING LIABILITIES: | |||||||||||||||||
Interest bearing demand deposits | 1,099 | (5,022) | (3,923) | ||||||||||||||
Money market | 967 | (14,531) | (13,564) | ||||||||||||||
Savings | 163 | (258) | (95) | ||||||||||||||
Time deposits | (20,580) | (24,677) | (45,257) | ||||||||||||||
Repurchase agreements | 124 | (565) | (441) | ||||||||||||||
Borrowings | (8,388) | 19 | (8,369) | ||||||||||||||
Junior subordinated debentures | 1,385 | (4,351) | (2,966) | ||||||||||||||
Total interest-bearing liabilities | (25,230) | (49,385) | (74,615) | ||||||||||||||
Net increase in net interest income (1) | $ | 27,309 | $ | 11,447 | $ | 38,756 | |||||||||||
(1) Tax exempt income has been adjusted to a tax equivalent basis at a 21% tax rate. |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | September 30, 2021 | June 30, 2021 | Change Amount | Change Percent | September 30, 2021 | September 30, 2020 | Change Amount | Change Percent | |||||||||||||||||||||||||||||||||||||||
Service charges on deposits | $ | 10,941 | $ | 10,310 | $ | 631 | 6 | % | $ | 30,898 | $ | 30,635 | $ | 263 | 1 | % | |||||||||||||||||||||||||||||||
Card-based fees | 9,111 | 10,274 | (1,163) | (11) | % | 26,759 | 20,436 | 6,323 | 31 | % | |||||||||||||||||||||||||||||||||||||
Brokerage revenue | 31 | 1,135 | (1,104) | (97) | % | 5,081 | 11,506 | (6,425) | (56) | % | |||||||||||||||||||||||||||||||||||||
Residential mortgage banking revenue, net | 34,150 | 44,443 | (10,293) | (23) | % | 143,626 | 191,794 | (48,168) | (25) | % | |||||||||||||||||||||||||||||||||||||
Gain on sale of debt securities, net | — | — | — | N/M | 4 | 190 | (186) | (98) | % | ||||||||||||||||||||||||||||||||||||||
(Loss) gain on equity securities, net | (343) | 4 | (347) | N/M | (1,045) | 942 | (1,987) | (211) | % | ||||||||||||||||||||||||||||||||||||||
Gain on loan and lease sales, net | 4,208 | 5,318 | (1,110) | (21) | % | 10,899 | 3,333 | 7,566 | 227 | % | |||||||||||||||||||||||||||||||||||||
Bank owned life insurance income | 2,038 | 2,092 | (54) | (3) | % | 6,201 | 6,332 | (131) | (2) | % | |||||||||||||||||||||||||||||||||||||
Other income | 13,569 | 17,499 | (3,930) | (22) | % | 51,157 | 22,881 | 28,276 | 124 | % | |||||||||||||||||||||||||||||||||||||
Total non-interest income | $ | 73,705 | $ | 91,075 | $ | (17,370) | (19) | % | $ | 273,580 | $ | 288,049 | $ | (14,469) | (5) | % | |||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
(in thousands) | September 30, 2021 | June 30, 2021 | September 30, 2021 | September 30, 2020 | |||||||||||||||||||
Origination and sale | $ | 30,293 | $ | 41,367 | $ | 134,165 | $ | 224,831 | |||||||||||||||
Servicing | 9,172 | 9,120 | 27,379 | 26,209 | |||||||||||||||||||
Change in fair value of MSR asset: | |||||||||||||||||||||||
Changes due to collection/realization of expected cash flows over time | (4,681) | (4,366) | (13,592) | (15,249) | |||||||||||||||||||
Changes in valuation inputs or assumptions (1) | (634) | (1,678) | (4,326) | (43,997) | |||||||||||||||||||
Residential mortgage banking revenue, net | $ | 34,150 | $ | 44,443 | $ | 143,626 | $ | 191,794 | |||||||||||||||
LHFS Production Statistics: | |||||||||||||||||||||||
Closed loan volume for-sale | $ | 987,281 | $ | 1,253,023 | $ | 3,875,836 | $ | 4,897,068 | |||||||||||||||
Gain on sale margin | 3.07 | % | 3.30 | % | 3.46 | % | 4.59 | % |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||
(in thousands) | September 30, 2021 | June 30, 2021 | Change Amount | Change Percent | September 30, 2021 | September 30, 2020 | Change Amount | Change Percent | |||||||||||||||||||||||||||||||||||||||
Salaries and employee benefits | $ | 117,636 | $ | 121,573 | $ | (3,937) | (3) | % | $ | 363,343 | $ | 346,787 | $ | 16,556 | 5 | % | |||||||||||||||||||||||||||||||
Occupancy and equipment, net | 33,944 | 34,657 | (713) | (2) | % | 103,236 | 109,892 | (6,656) | (6) | % | |||||||||||||||||||||||||||||||||||||
Communications | 2,866 | 3,004 | (138) | (5) | % | 8,633 | 9,010 | (377) | (4) | % | |||||||||||||||||||||||||||||||||||||
Marketing | 1,651 | 2,054 | (403) | (20) | % | 5,077 | 6,148 | (1,071) | (17) | % | |||||||||||||||||||||||||||||||||||||
Services | 12,017 | 13,512 | (1,495) | (11) | % | 36,279 | 34,319 | 1,960 | 6 | % | |||||||||||||||||||||||||||||||||||||
FDIC assessments | 2,136 | 1,607 | 529 | 33 | % | 6,342 | 9,502 | (3,160) | (33) | % | |||||||||||||||||||||||||||||||||||||
Intangible amortization | 1,130 | 1,130 | — | — | % | 3,390 | 3,740 | (350) | (9) | % | |||||||||||||||||||||||||||||||||||||
Other expenses | 12,373 | 11,863 | 510 | 4 | % | 34,445 | 30,441 | 4,004 | 13 | % | |||||||||||||||||||||||||||||||||||||
Non-interest expense before goodwill impairment | 183,753 | 189,400 | (5,647) | (3) | % | 560,745 | 549,839 | 10,906 | 2 | % | |||||||||||||||||||||||||||||||||||||
Goodwill impairment | — | — | — | N/M | — | 1,784,936 | (1,784,936) | N/M | |||||||||||||||||||||||||||||||||||||||
Total non-interest expense | $ | 183,753 | $ | 189,400 | $ | (5,647) | (3) | % | $ | 560,745 | $ | 2,334,775 | $ | (1,774,030) | (76) | % | |||||||||||||||||||||||||||||||
Investment Securities Available for Sale | |||||||||||||||||||||||
September 30, 2021 | December 31, 2020 | ||||||||||||||||||||||
(dollars in thousands) | Fair Value | % | Fair Value | % | |||||||||||||||||||
U.S. Treasury and agencies | $ | 838,977 | 23 | % | $ | 762,202 | 26 | % | |||||||||||||||
Obligations of states and political subdivisions | 283,409 | 7 | % | 279,511 | 10 | % | |||||||||||||||||
Residential mortgage-backed securities and collateralized mortgage obligations | 2,600,785 | 70 | % | 1,890,845 | 64 | % | |||||||||||||||||
Total available for sale securities | $ | 3,723,171 | 100 | % | $ | 2,932,558 | 100 | % |
Investment Securities Held to Maturity | |||||||||||||||||||||||
September 30, 2021 | December 31, 2020 | ||||||||||||||||||||||
(dollars in thousands) | Amortized Cost | % | Amortized Cost | % | |||||||||||||||||||
Residential mortgage-backed securities and collateralized mortgage obligations | $ | 2,795 | 100 | % | $ | 3,034 | 100 | % | |||||||||||||||
Total held to maturity securities | $ | 2,795 | 100 | % | $ | 3,034 | 100 | % |
September 30, 2021 | December 31, 2020 | ||||||||||||||||||||||
(dollars in thousands) | Amount | % | Amount | % | |||||||||||||||||||
Commercial real estate | |||||||||||||||||||||||
Non-owner occupied term, net | $ | 3,561,764 | 16 | % | $ | 3,505,802 | 16 | % | |||||||||||||||
Owner occupied term, net | 2,330,338 | 11 | % | 2,333,945 | 11 | % | |||||||||||||||||
Multifamily, net | 3,813,024 | 17 | % | 3,349,196 | 15 | % | |||||||||||||||||
Construction & development, net | 882,778 | 4 | % | 828,478 | 4 | % | |||||||||||||||||
Residential development, net | 177,148 | 1 | % | 192,761 | 1 | % | |||||||||||||||||
Commercial | |||||||||||||||||||||||
Term, net | 3,159,466 | 14 | % | 4,024,467 | 18 | % | |||||||||||||||||
Lines of credit & other, net | 930,350 | 4 | % | 862,760 | 4 | % | |||||||||||||||||
Leases & equipment finance, net | 1,457,248 | 7 | % | 1,456,630 | 7 | % | |||||||||||||||||
Residential | |||||||||||||||||||||||
Mortgage, net | 4,330,860 | 20 | % | 3,871,906 | 18 | % | |||||||||||||||||
Home equity loans & lines, net | 1,133,823 | 5 | % | 1,136,064 | 5 | % | |||||||||||||||||
Consumer & other, net | 193,141 | 1 | % | 217,358 | 1 | % | |||||||||||||||||
Total, net of deferred fees and costs | $ | 21,969,940 | 100 | % | $ | 21,779,367 | 100 | % |
(dollars in thousands) | September 30, 2021 | December 31, 2020 | ||||||||||||
PPP principal balance | $ | 747,979 | $ | 1,777,145 | ||||||||||
PPP deferred fees | (21,242) | (26,934) | ||||||||||||
Net PPP Balance | $ | 726,737 | $ | 1,750,211 | ||||||||||
PPP loan count | 7,492 | 14,788 |
(dollars in thousands) | September 30, 2021 | December 31, 2020 | |||||||||
Loans and leases on non-accrual status | $ | 24,152 | $ | 31,076 | |||||||
Loans and leases past due 90 days or more and accruing | 27,490 | 36,361 | |||||||||
Total non-performing loans and leases | 51,642 | 67,437 | |||||||||
Other real estate owned | 1,868 | 1,810 | |||||||||
Total non-performing assets | $ | 53,510 | $ | 69,247 | |||||||
Restructured loans (1) | $ | 9,849 | $ | 14,991 | |||||||
Allowance credit losses on loans and leases | $ | 257,560 | $ | 328,401 | |||||||
Reserve for unfunded commitments | 11,752 | 20,286 | |||||||||
Allowance for credit losses | $ | 269,312 | $ | 348,687 | |||||||
Asset quality ratios: | |||||||||||
Non-performing assets to total assets | 0.17 | % | 0.24 | % | |||||||
Non-performing loans and leases to total loans and leases | 0.24 | % | 0.31 | % | |||||||
Allowance for credit losses on loans and leases to total loans and leases | 1.17 | % | 1.51 | % | |||||||
Allowance for credit losses to total loans and leases | 1.23 | % | 1.60 | % | |||||||
Allowance for credit losses to total non-performing loans and leases | 521 | % | 517 | % |
Loans with Deferrals or Forbearances | |||||||||||||||||
(dollars in thousands) | Number of Loans | Loan Balance Outstanding | % of Loan Portfolio | ||||||||||||||
Commercial real estate | 8 | $ | 58,086 | 1 | % | ||||||||||||
Commercial | 4 | 469 | — | % | |||||||||||||
Residential | 148 | 73,732 | 1 | % | |||||||||||||
Consumer & other, net | 12 | 202 | — | % | |||||||||||||
Total | 172 | $ | 132,489 | 1 | % | ||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||
(dollars in thousands) | September 30, 2021 | June 30, 2021 | September 30, 2021 | September 30, 2020 | ||||||||||||||||||||||
Allowance for credit losses on loans and leases | ||||||||||||||||||||||||||
Balance, beginning of period | $ | 279,887 | $ | 311,283 | $ | 328,401 | $ | 157,629 | ||||||||||||||||||
Impact of CECL adoption | — | — | — | 49,999 | ||||||||||||||||||||||
Adjusted balance, beginning of period | 279,887 | 311,283 | 328,401 | 207,628 | ||||||||||||||||||||||
(Recapture) provision for credit losses on loans and leases | (16,132) | (17,775) | (33,381) | 188,771 | ||||||||||||||||||||||
Charge-offs | (10,373) | (17,079) | (48,367) | (60,554) | ||||||||||||||||||||||
Recoveries | 4,178 | 3,458 | 10,907 | 9,204 | ||||||||||||||||||||||
Net charge-offs | (6,195) | (13,621) | (37,460) | (51,350) | ||||||||||||||||||||||
Balance, end of period | $ | 257,560 | $ | 279,887 | $ | 257,560 | $ | 345,049 | ||||||||||||||||||
Reserve for unfunded commitments | ||||||||||||||||||||||||||
Balance, beginning of period | $ | 14,539 | $ | 19,760 | $ | 20,286 | $ | 5,106 | ||||||||||||||||||
Impact of CECL adoption | — | — | — | 3,238 | ||||||||||||||||||||||
Adjusted balance, beginning of period | 14,539 | 19,760 | 20,286 | 8,344 | ||||||||||||||||||||||
(Recapture) provision for credit losses on unfunded commitments | (2,787) | (5,221) | (8,534) | 15,962 | ||||||||||||||||||||||
Balance, end of period | 11,752 | 14,539 | 11,752 | 24,306 | ||||||||||||||||||||||
Total allowance for credit losses | $ | 269,312 | $ | 294,426 | $ | 269,312 | $ | 369,355 | ||||||||||||||||||
As a percentage of average loans and leases (annualized): | ||||||||||||||||||||||||||
Net charge-offs | 0.11 | % | 0.25 | % | 0.23 | % | 0.31 | % | ||||||||||||||||||
(Recapture) provision for credit losses | (0.34) | % | (0.42) | % | (0.26) | % | 1.24 | % | ||||||||||||||||||
Recoveries as a percentage of charge-offs | 40.28 | % | 20.25 | % | 22.55 | % | 15.20 | % |
September 30, 2021 | December 31, 2020 | ||||||||||||||||||||||
(dollars in thousands) | Amount | % Loans to total loans | Amount | % Loans to total loans | |||||||||||||||||||
Commercial real estate | $ | 108,014 | 49 | % | $ | 141,710 | 47 | % | |||||||||||||||
Commercial | 118,934 | 25 | % | 150,864 | 29 | % | |||||||||||||||||
Residential | 27,280 | 25 | % | 27,964 | 23 | % | |||||||||||||||||
Consumer & other | 3,332 | 1 | % | 7,863 | 1 | % | |||||||||||||||||
Allowance for credit losses on loans and leases | $ | 257,560 | $ | 328,401 |
(dollars in thousands) | June 30, 2021 | Q3 2021 net (charge-offs) recoveries | Reserve build/(release) | September 30, 2021 | % of Loan and Leases Outstanding | |||||||||||||||||||||||||||
Commercial real estate | $ | 139,045 | $ | (796) | $ | (23,414) | $ | 114,835 | 1.07 | % | ||||||||||||||||||||||
Commercial | 123,535 | (5,175) | 3,159 | 121,519 | 2.19 | % | ||||||||||||||||||||||||||
Residential | 27,006 | 281 | 1,950 | 29,237 | 0.54 | % | ||||||||||||||||||||||||||
Consumer & Other | 4,840 | (505) | (614) | 3,721 | 1.93 | % | ||||||||||||||||||||||||||
Total allowance for credit losses | $ | 294,426 | $ | (6,195) | $ | (18,919) | $ | 269,312 | ||||||||||||||||||||||||
% of loans and leases outstanding | 1.33 | % | 1.23 | % | ||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
(in thousands) | September 30, 2021 | June 30, 2021 | September 30, 2021 | September 30, 2020 | |||||||||||||||||||
Balance, beginning of period | $ | 102,699 | $ | 100,413 | $ | 92,907 | $ | 115,010 | |||||||||||||||
Additions for new MSR capitalized | 8,450 | 8,330 | 30,845 | 37,484 | |||||||||||||||||||
Changes in fair value: | |||||||||||||||||||||||
Changes due to collection/realization of expected cash flows over time | (4,681) | (4,366) | (13,592) | (15,249) | |||||||||||||||||||
Changes due to valuation inputs or assumptions (1) | (634) | (1,678) | (4,326) | (43,997) | |||||||||||||||||||
Balance, end of period | $ | 105,834 | $ | 102,699 | $ | 105,834 | $ | 93,248 | |||||||||||||||
(dollars in thousands) | September 30, 2021 | December 31, 2020 | |||||||||
Balance of loans serviced for others | $ | 12,853,291 | $ | 13,026,720 | |||||||
MSR as a percentage of serviced loans | 0.82 | % | 0.71 | % |
September 30, 2021 | December 31, 2020 | ||||||||||||||||||||||
(dollars in thousands) | Amount | % | Amount | % | |||||||||||||||||||
Non-interest bearing demand | $ | 11,121,127 | 41 | % | $ | 9,632,773 | 39 | % | |||||||||||||||
Interest bearing demand | 3,758,019 | 14 | % | 3,051,487 | 12 | % | |||||||||||||||||
Money market | 7,780,442 | 29 | % | 7,173,920 | 29 | % | |||||||||||||||||
Savings | 2,325,929 | 9 | % | 1,912,752 | 8 | % | |||||||||||||||||
Time, greater than $250,000 | 524,752 | 2 | % | 899,563 | 4 | % | |||||||||||||||||
Time, $250,000 or less | 1,398,128 | 5 | % | 1,951,706 | 8 | % | |||||||||||||||||
Total deposits | $ | 26,908,397 | 100 | % | $ | 24,622,201 | 100 | % |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
September 30, 2021 | June 30, 2021 | September 30, 2021 | September 30, 2020 | ||||||||||||||||||||
Dividend declared per common share | $ | 0.21 | $ | 0.21 | $ | 0.63 | $ | 0.42 | |||||||||||||||
Dividend payout ratio | 43 | % | 40 | % | 42 | % | (6) | % |
Actual | For Capital Adequacy purposes | To be Well Capitalized | |||||||||||||||||||||||||||||||||
(dollars in thousands) | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||||||||||||||||
September 30, 2021 | |||||||||||||||||||||||||||||||||||
Total Capital | |||||||||||||||||||||||||||||||||||
(to Risk Weighted Assets) | |||||||||||||||||||||||||||||||||||
Consolidated | $ | 3,391,310 | 14.88 | % | $ | 1,823,052 | 8.00 | % | $ | 2,278,815 | 10.00 | % | |||||||||||||||||||||||
Umpqua Bank | $ | 3,048,815 | 13.38 | % | $ | 1,823,416 | 8.00 | % | $ | 2,279,269 | 10.00 | % | |||||||||||||||||||||||
Tier I Capital | |||||||||||||||||||||||||||||||||||
(to Risk Weighted Assets) | |||||||||||||||||||||||||||||||||||
Consolidated | $ | 2,742,229 | 12.03 | % | $ | 1,367,289 | 6.00 | % | $ | 1,823,052 | 8.00 | % | |||||||||||||||||||||||
Umpqua Bank | $ | 2,850,732 | 12.51 | % | $ | 1,367,562 | 6.00 | % | $ | 1,823,416 | 8.00 | % | |||||||||||||||||||||||
Tier I Common | |||||||||||||||||||||||||||||||||||
(to Risk Weighted Assets) | |||||||||||||||||||||||||||||||||||
Consolidated | $ | 2,742,229 | 12.03 | % | $ | 1,025,467 | 4.50 | % | $ | 1,481,230 | 6.50 | % | |||||||||||||||||||||||
Umpqua Bank | $ | 2,850,732 | 12.51 | % | $ | 1,025,671 | 4.50 | % | $ | 1,481,525 | 6.50 | % | |||||||||||||||||||||||
Tier I Capital | |||||||||||||||||||||||||||||||||||
(to Average Assets) | |||||||||||||||||||||||||||||||||||
Consolidated | $ | 2,742,229 | 8.96 | % | $ | 1,223,942 | 4.00 | % | $ | 1,529,927 | 5.00 | % | |||||||||||||||||||||||
Umpqua Bank | $ | 2,850,732 | 9.31 | % | $ | 1,224,669 | 4.00 | % | $ | 1,530,836 | 5.00 | % | |||||||||||||||||||||||
December 31, 2020 | |||||||||||||||||||||||||||||||||||
Total Capital | |||||||||||||||||||||||||||||||||||
(to Risk Weighted Assets) | |||||||||||||||||||||||||||||||||||
Consolidated | $ | 3,347,926 | 15.63 | % | $ | 1,713,891 | 8.00 | % | $ | 2,142,364 | 10.00 | % | |||||||||||||||||||||||
Umpqua Bank | $ | 3,134,116 | 14.63 | % | $ | 1,713,809 | 8.00 | % | $ | 2,142,262 | 10.00 | % | |||||||||||||||||||||||
Tier I Capital | |||||||||||||||||||||||||||||||||||
(to Risk Weighted Assets) | |||||||||||||||||||||||||||||||||||
Consolidated | $ | 2,636,194 | 12.31 | % | $ | 1,285,418 | 6.00 | % | $ | 1,713,891 | 8.00 | % | |||||||||||||||||||||||
Umpqua Bank | $ | 2,873,383 | 13.41 | % | $ | 1,285,357 | 6.00 | % | $ | 1,713,809 | 8.00 | % | |||||||||||||||||||||||
Tier I Common | |||||||||||||||||||||||||||||||||||
(to Risk Weighted Assets) | |||||||||||||||||||||||||||||||||||
Consolidated | $ | 2,636,194 | 12.31 | % | $ | 964,064 | 4.50 | % | $ | 1,392,536 | 6.50 | % | |||||||||||||||||||||||
Umpqua Bank | $ | 2,873,383 | 13.41 | % | $ | 964,018 | 4.50 | % | $ | 1,392,470 | 6.50 | % | |||||||||||||||||||||||
Tier I Capital | |||||||||||||||||||||||||||||||||||
(to Average Assets) | |||||||||||||||||||||||||||||||||||
Consolidated | $ | 2,636,194 | 8.98 | % | $ | 1,174,129 | 4.00 | % | $ | 1,467,661 | 5.00 | % | |||||||||||||||||||||||
Umpqua Bank | $ | 2,873,383 | 9.79 | % | $ | 1,174,065 | 4.00 | % | $ | 1,467,581 | 5.00 | % |
Period | Total number of Common Shares Purchased (1) | Average Price Paid per Common Share | Total Number of Shares Purchased as Part of Publicly Announced Plan (2) | Maximum Dollar Value of Shares that May be Purchased at Period End under the Plan | ||||||||||||||||||||||
7/1/21 - 7/31/21 | 862,127 | $ | 18.86 | 860,828 | $ | 383,765,495 | ||||||||||||||||||||
8/1/21 - 8/31/21 | 3,148,950 | $ | 19.68 | 3,148,891 | $ | 321,797,719 | ||||||||||||||||||||
9/1/21 - 9/30/21 | 731 | $ | 19.28 | — | $ | 321,797,719 | ||||||||||||||||||||
Total for quarter | 4,011,808 | $ | 19.50 | 4,009,719 |
Exhibit # | Description | ||||
2.1 | |||||
3.1 | |||||
3.2 | |||||
4.1 | |||||
4.2 | The Company agrees to furnish upon request to the Commission a copy of each instrument defining the rights of holders of senior and subordinated debt of the Company. | ||||
10.1* | |||||
31.1 | |||||
31.2 | |||||
31.3 | |||||
32 | |||||
101.INS | Inline XBRL Instance Document – The instance document does not appear in the interactive data file because its XBRL tags are embedded within the Inline XBRL document | ||||
101.SCH | Inline XBRL Taxonomy Extension Schema Document | ||||
101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document | ||||
101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document | ||||
101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document | ||||
101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document | ||||
104 | The cover page from the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, formatted in Inline XBRL (included in Exhibit 101) | ||||
* | Compensatory plan or arrangement | ||||
(a) | Incorporated by reference to Exhibit 2.1 to Form 8-K filed October 15, 2021 | ||||
(b) | Incorporated by reference to Exhibit 3.1 to Form 8-K filed April 23, 2018 | ||||
(c) | Incorporated by reference to Exhibit 99.2 to Form 8-K filed March 24, 2020 | ||||
(d) | Incorporated by reference to Exhibit 4 to the Registration Statement on Form S-8 (No. 333-77259) filed April 28, 1999 | ||||
UMPQUA HOLDINGS CORPORATION | ||||||||
(Registrant) | ||||||||
Dated | November 4, 2021 | /s/ Cort L. O'Haver | ||||||
Cort L. O'Haver President and Chief Executive Officer | ||||||||
Dated | November 4, 2021 | /s/ Ronald L. Farnsworth | ||||||
Ronald L. Farnsworth Executive Vice President/Chief Financial Officer and Principal Financial Officer | ||||||||
Dated | November 4, 2021 | /s/ Lisa M. White | ||||||
Lisa M. White Senior Vice President/Corporate Controller and Principal Accounting Officer |
Performance Goals | ROATCE Performance | Percentage of Target Award Earned (straight-line interpolation between Threshold and Target; and Target and Maximum) | ||||||
Minimum | Below 50% | 0% | ||||||
Threshold | At 50% | 50% | ||||||
Target | At 100% | 100% | ||||||
Maximum | At or above 150% | 150% |
Merger with Company in Peer Group | In the event of a merger, acquisition or business combination transaction of a Peer Company with or by another Peer Company, the surviving entity shall remain a Peer Company. | ||||
Merger with Company not in Peer Group where Peer Company survives | In the event of a merger of a Peer Company with an entity that is not a Peer Company, or the acquisition or business combination transaction of a Peer Company by an entity that is not a Peer Company, in each case where the Peer Company is the surviving entity and remains publicly traded, the surviving entity shall remain a Peer Company. | ||||
Merger with Company not in Peer Group where Peer Company is not the survivor | In the event of a merger or acquisition or business combination transaction of a Peer Company by or with an entity that is not a Peer Company, where the Peer Company is not the surviving entity the company shall no longer be a Peer Company, provided that the Committee retains discretion to determine that the surviving company may be added to the Peer Group in the circumstances (for example, a merger of equals). | ||||
Bankruptcy, Liquidation or Delisting | In the event of a bankruptcy, liquidation or delisting of a Peer Company at any time during the Performance Period, such company shall remain a Peer Company and be assigned an ROATCE of 0%. Delisting shall mean that a company ceases to be publicly traded on a national securities exchange as a result of any involuntary failure to meet the listing requirements of such national securities exchange, but shall not include delisting as a result of any voluntary going private or similar transaction. |
/s/ Cort L. O'Haver | |||||
Cort L. O'Haver | |||||
President and Chief Executive Officer | |||||
Umpqua Holdings Corporation |
/s/ Ronald L. Farnsworth | |||||
Ronald L. Farnsworth | |||||
Executive Vice President/Chief Financial Officer and | |||||
Principal Financial Officer | |||||
Umpqua Holdings Corporation |
/s/ Lisa M. White | |||||
Lisa M. White | |||||
Senior Vice President/Corporate Controller and | |||||
Principal Accounting Officer | |||||
Umpqua Holdings Corporation |
/s/ Cort L. O'Haver | |||||
Cort L. O'Haver | |||||
President and Chief Executive Officer | |||||
Umpqua Holdings Corporation | |||||
/s/ Ronald L. Farnsworth | |||||
Ronald L. Farnsworth | |||||
Executive Vice President/Chief Financial Officer and | |||||
Principal Financial Officer | |||||
Umpqua Holdings Corporation | |||||
/s/ Lisa M. White | |||||
Lisa M. White | |||||
Senior Vice President/Corporate Controller and | |||||
Principal Accounting Officer | |||||
Umpqua Holdings Corporation | |||||
November 4, 2021 |
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
---|---|---|
Statement of Financial Position [Abstract] | ||
Fair Value, LHFS less loans transferred in at LOCM | $ 352,466 | $ 688,079 |
Fair Value, Loans receivable | $ 353,912 | $ 0 |
Common stock, shares outstanding | 216,621,803 | 220,226,335 |
Common stock, shares issued | 216,621,803 | 220,226,335 |
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized | 400,000,000 | 400,000,000 |
Cash and due from banks | ||
Restricted Cash and Cash Equivalents Items [Line Items] | ||
Restricted cash | $ 89,006 | $ 92,955 |
Interest bearing cash and temporary investments | ||
Restricted Cash and Cash Equivalents Items [Line Items] | ||
Restricted cash | $ 357 | $ 2,574 |
Condensed Consolidated Statements of Changes In Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares |
3 Months Ended | |||||
---|---|---|---|---|---|---|
Sep. 30, 2021 |
Jun. 30, 2021 |
Mar. 31, 2021 |
Dec. 31, 2020 |
Sep. 30, 2020 |
Mar. 31, 2020 |
|
Statement of Stockholders' Equity [Abstract] | ||||||
Cash dividends on common stock (in dollars per share) | $ 0.21 | $ 0.21 | $ 0.21 | $ 0.21 | $ 0.21 | $ 0.21 |
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands |
9 Months Ended | |
---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
|
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income (loss) | $ 331,946 | $ (1,674,150) |
Adjustments to reconcile net income to net cash used in operating activities: | ||
Goodwill impairment | 0 | 1,784,936 |
Amortization of investment premiums, net | 10,934 | 20,911 |
Gain on sale of investment securities, net | (4) | (190) |
(Recapture) provision for credit losses | (41,915) | 204,832 |
Change in cash surrender value of bank owned life insurance | (6,302) | (6,433) |
Depreciation, amortization and accretion | 23,492 | 28,494 |
Loss (gain) on sale of premises and equipment | 436 | (369) |
Gain on store divestiture | 0 | (5,945) |
Additions to residential mortgage servicing rights carried at fair value | (30,845) | (37,484) |
Change in fair value of residential mortgage servicing rights carried at fair value | 17,918 | 59,246 |
Stock-based compensation | 8,106 | 6,781 |
Net decrease (increase) in equity and other investments | 457 | (1,662) |
Loss (gain) on equity securities, net | 1,045 | (942) |
Gain on sale of loans and leases, net | (124,764) | (212,353) |
Change in fair value of loans held for sale | 21,727 | (16,519) |
Origination of loans held for sale | (3,875,836) | (4,897,068) |
Proceeds from sales of loans held for sale | 4,065,846 | 4,958,265 |
Change in other assets and liabilities: | ||
Net decrease (increase) in other assets | 161,119 | (232,499) |
Net decrease in other liabilities | (21,816) | (59,519) |
Net cash provided by (used in) operating activities | 541,544 | (81,668) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchases of investment securities available for sale | (1,473,840) | (595,396) |
Proceeds from investment securities available for sale | 578,240 | 604,553 |
Purchases of restricted equity securities | (34) | (20,001) |
Redemption of restricted equity securities | 30,754 | 16,402 |
Net change in loans and leases | (85,539) | (1,343,715) |
Proceeds from sales of loans and leases | 182,605 | 60,777 |
Change in premises and equipment | (13,121) | (11,526) |
Proceeds from bank owned life insurance death benefits | 3,401 | 57 |
Net cash received from sale of Umpqua Investments, Inc. | 10,781 | 0 |
Net cash paid in store divestiture | 0 | (81,172) |
Other | 1,879 | 1,037 |
Net cash used in investing activities | (764,874) | (1,368,984) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Net increase in deposit liabilities | 2,286,225 | 2,288,262 |
Net increase in securities sold under agreements to repurchase | 92,376 | 76,720 |
Proceeds from borrowings | 0 | 600,000 |
Repayment of borrowings | (765,000) | (510,000) |
Net proceeds from issuance of common stock | 34 | 0 |
Dividends paid on common stock | (138,243) | (138,731) |
Repurchase and retirement of common stock | (80,654) | (8,628) |
Net cash provided by financing activities | 1,394,738 | 2,307,623 |
Net increase in cash and cash equivalents | 1,171,408 | 856,971 |
Cash and cash equivalents, beginning of period | 2,573,181 | 1,362,756 |
Cash and cash equivalents, end of period | 3,744,589 | 2,219,727 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Interest | 35,085 | 115,016 |
Income taxes | 81,482 | 105,579 |
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES: | ||
Changes in unrealized gains and losses on investment securities available for sale, net of taxes | (69,478) | 85,523 |
Changes in unrealized gains and losses on junior subordinated debentures carried at fair value, net of taxes | (33,058) | 19,950 |
Cumulative effect adjustment to retained earnings | 0 | 40,181 |
Transfer of loans to loans held for sale | 0 | 6,187 |
Transfer of loans held for sale to loans | 315,887 | 0 |
Change in GNMA mortgage loans recognized due to repurchase option | $ 0 | $ 15,617 |
Summary of Significant Accounting Policies |
9 Months Ended |
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Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies The accounting and financial reporting policies of Umpqua Holdings Corporation conform to accounting principles generally accepted in the United States of America. All references in this report to "Umpqua," "we," "our," or "us" or similar references mean the Company and include our consolidated subsidiaries where the context so requires. References to "Bank" refer to our subsidiary Umpqua Bank, an Oregon state-chartered commercial bank. FinPac is the Bank's wholly-owned subsidiary, a commercial equipment leasing company. The accompanying interim condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, and the Bank's wholly-owned subsidiaries. All inter-company balances and transactions have been eliminated. The condensed consolidated financial statements have not been audited. A more detailed description of the Company's accounting policies is included in the 2020 Annual Report filed on Form 10-K. These interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes contained in the 2020 Annual Report filed on Form 10-K. In preparing these condensed consolidated financial statements, the Company has evaluated events and transactions subsequent to September 30, 2021, for potential recognition or disclosure. In management's opinion, all accounting adjustments necessary to accurately reflect the financial position and results of operations on the accompanying financial statements have been made. These adjustments include normal and recurring accruals considered necessary for a fair and accurate presentation. The results for interim periods are not necessarily indicative of results for the full year or any other interim period. Certain reclassifications of prior period amounts have been made to conform to current classifications, including the reclassification of the line items within non-interest income to add the card-based fees line item, as well as changes to the segment reporting structure. Recent accounting pronouncements In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This ASU was issued to provide temporary optional guidance to ease the potential burden in accounting for reference rate reform. The guidance provides optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. The last expedient is a one-time election to sell or transfer debt securities classified as held to maturity. The expedients are in effect from March 12, 2020, through December 31, 2022. The Company will be able to use the expedients in this guidance to manage through the transition away from LIBOR, specifically for our loan portfolio. In January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848): Scope. The amendments in this ASU are elective and apply to all entities that have derivative instruments that use an interest rate for margining, discounting, or contract price alignment that is modified as a result of reference rate reform. The amendments clarify certain optional expedients and exceptions in Topic 848. The amendments are in effect from March 12, 2020, through December 31, 2022. This ASU does not have a material impact on the Company's consolidated financial statements.
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Investment Securities |
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Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment Securities | Investment Securities The following tables present the amortized cost, unrealized gains, unrealized losses and approximate fair values of debt securities at September 30, 2021 and December 31, 2020:
The Company elected to exclude accrued interest receivable from the amortized cost basis of debt securities disclosed throughout this note. Interest accrued on investment securities totaled $12.2 million and $8.9 million as of September 30, 2021 and December 31, 2020, respectively, and is included in Other Assets. Debt securities that were in an unrealized loss position as of September 30, 2021 and December 31, 2020 are presented in the following tables, based on the length of time individual securities have been in an unrealized loss position.
These unrealized losses on the debt securities held by the Company were caused by changes in market interest rates or the widening of market spreads subsequent to the initial purchase of these securities and are not due to the underlying credit of the issuers. Management monitors the published credit ratings of the issuers of the debt securities for material rating or outlook changes. Substantially all of the Company's obligations of states and political subdivisions are general obligation issuances. All of the available for sale residential mortgage-backed securities and collateralized mortgage obligations portfolio in an unrealized loss position at September 30, 2021 are issued or guaranteed by government sponsored enterprises. Because the decline in fair value of the debt securities is attributable to changes in interest rates or widening market spreads and not credit quality, these investments do not have an allowance for credit losses at September 30, 2021. The following table presents the contractual maturities of debt securities at September 30, 2021:
The following table presents, as of September 30, 2021, investment securities that were pledged to secure borrowings, public deposits, and repurchase agreements as permitted or required by law:
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Loans and Leases |
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Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans and Leases | Loans and Leases The following table presents the major types of loans and leases, net of deferred fees and costs, as of September 30, 2021 and December 31, 2020:
As of September 30, 2021 and December 31, 2020, the net deferred costs were $47.7 million and $38.6 million, respectively. The Bank participated in the PPP to originate SBA loans designated to help businesses maintain their workforce and cover other working capital needs during the COVID-19 pandemic. As of September 30, 2021, the Bank had approximately 7,500 PPP loans, totaling $726.7 million in net loans, which are classified as commercial term loans in the table above. As of December 31, 2020, the Bank had approximately 15,000 PPP loans totaling $1.8 billion in net loans. Net deferred costs for the loan portfolio include the net deferred fees for the origination of PPP loans of $21.2 million and $26.9 million as of September 30, 2021 and December 31, 2020, respectively. The PPP net deferred fees and costs are a yield adjustment over the remaining term of these loans. The loans are fully guaranteed by the SBA and the maximum term of the loans is either two or five years; however, the majority of the loan balances are expected to be forgiven by the SBA, which will accelerate the recognition of these net deferred fees at the forgiveness date. Total loans and leases also include discounts on acquired loans of $11.4 million and $17.9 million as of September 30, 2021 and December 31, 2020, respectively. As of September 30, 2021, loans totaling $14.4 billion were pledged to secure borrowings and available lines of credit. The Company elected to exclude accrued interest receivable from the amortized cost basis of loans disclosed throughout this footnote. Interest accrued on loans totaled $63.3 million and $74.8 million as of September 30, 2021 and December 31, 2020, respectively, and is included in Other Assets. The Bank, through its commercial equipment leasing subsidiary, FinPac, is a provider of commercial equipment leasing and financing. Direct finance leases are included within the lease and equipment finance segment within the loans and leases, net line item. These leases typically have terms of to five years and are considered to be direct financing leases. Interest income recognized on these leases was $6.1 million and $17.3 million for the three and nine months ended September 30, 2021, respectively, as compared to $6.7 million and $20.5 million for the three and nine months ended September 30, 2020, respectively. Loans and leases sold In the course of managing the loan and lease portfolio, management may decide to sell loans and leases. The following table summarizes the carrying value of loans and leases sold by major loan type during the three and nine months ended September 30, 2021 and 2020:
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Allowance for Credit Losses |
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Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Credit Losses | Allowance for Credit Losses Allowance for Credit Losses Methodology In accordance with CECL, the ACL represents management's estimate of lifetime credit losses for assets within its scope, specifically loans and leases and unfunded commitments. To calculate the ACL, management uses models to estimate the PD and LGD for loans utilizing inputs that include forecasted future economic conditions and that are dependent upon specific macroeconomic variables relevant to each of the Bank's loan and lease portfolios. Moody's Analytics, a third party, provided the historical and forward-looking macroeconomic data utilized in the models used to calculate the ACL. For ACL calculation purposes, the Bank considered the financial and economic environment at the time of assessment and economic scenarios that differed in the levels of severity and sensitivity to the ACL results. At each measurement date, the Bank selects the scenario that reflects its view of future economic conditions and is determined to be the most probable outcome. All forecasts are updated for each variable where applicable and incorporated as relevant into the ACL calculation. Actual credit loss results and the timing thereof will differ from the estimate of credit losses, either in a strong economy or a recession, as the portfolio will change through time due to growth, risk mitigation actions and other factors. In addition, the scenarios used will differ and change through time as economic conditions change. Economic scenarios might not capture deterioration or improvement in the economy timely enough for the Bank to be able to adequately address the impact to the ACL. Select macroeconomic variables are projected over the forecast period, and they could have a material impact in determining the ACL. As the length of the forecast period increases, information about the future becomes less readily available and projections are inherently less certain. The following is a discussion of the changes in the factors that influenced management's current estimate of expected credit losses. The changes in the ACL estimate for all portfolio segments, during the three and nine months ended September 30, 2021, were primarily related to changes in the economic assumptions. The Bank opted to use Moody's Analytics' August consensus economic forecast for estimating the ACL as of September 30, 2021. This scenario is based on Moody's Analytics' review of a variety of surveys of baseline forecasts of the U.S. economy. These surveys vary in date of latest vintage, number of updates per year, list of variables forecast, duration of forecast, frequency of data (quarterly or annual), and the number of respondents. In the preparation of the Moody's Analytics consensus forecast, the focus is on the next three to five years, since that is the most typical duration in the surveyed results. Moody's Analytics' approach is to give greater consideration to the most recently produced forecasts, since they will include the most up-to-date historical information, and to those variables for which the number of surveyed responses is largest. In the consensus scenario selected, the probability that the economy will perform better than this consensus is equal to the probability that it will perform worse and included the following factors: •U.S. real GDP average annualized growth of 4.9% through 2022; •U.S. unemployment rate average for 2021 of 5.5%, dropping to 4.2% in 2022; •COVID infections abate in November 2021; •Federal Reserve to keep the target range for the Fed Funds rate at 0% to 0.25% until early 2023. The Bank uses an additional scenario that differs in terms of severity within the variables, both favorable and unfavorable, to assess the sensitivity in the ACL results and to inform qualitative adjustments. The Bank selected the Moody's Analytics' August S2 scenario for this analysis. In the scenario selected, there is a 75% probability that the economy will perform better, broadly speaking, and a 25% probability that it will perform worse; and the scenario includes the following factors: •The stimulus is less effective than expected because of slower consumer spending. More of the funds end up in savings, and thus fiscal multipliers are smaller than assumed in the consensus scenario; •New cases, hospitalizations and deaths from COVID-19 rise again and then diminish more slowly than anticipated, with fewer people than expected receiving vaccines; •U.S. real GDP average annualized growth of 3.5% through 2022; •U.S. unemployment rate average for 2021 of 5.9% with return to less than 5.0% unemployment in 2023; •COVID infections abate in January 2022; •Federal Reserve to keep target range for the Fed Funds rate near 0% until mid-2024. The results using the comparison scenario for sensitivity analysis were reviewed by management and were considered when evaluating the qualitative factor adjustments. The ACL is measured on a collective (pool) basis when similar characteristics exist. The Company has selected models at the portfolio level using a risk-based approach, with larger, more complex portfolios having more complex models. Except as noted below, the macroeconomic variables that are inputs to the models are reasonable and supportable over the life of the loans in that they reasonably project the key economic variables in the near term and then converge to a long run equilibrium trend. These models produce reasonable and supportable estimates of loss over the life of the loans as the projected credit losses will also converge to a steady state in line with the variables applied. The Company measures the ACL using the following methods: Commercial Real Estate: Non-owner occupied commercial real estate, multifamily, and construction loans are analyzed using a model that uses four primary property variables: net operating income, property value, property type, and location. For PD estimation, the model simulates potential future paths of net operating income given commercial real estate market factors determined from macroeconomic and regional commercial real estate forecasts. Using the resulting expected debt service coverage ratios, together with predicted loan-to-values and other variables, the model estimates PD from the range of conditional possibilities. In addition, the model estimates maturity PD capturing refinance default risk to produce a total PD for the loan. The model estimates LGD, inclusive of principal loss and liquidation expenses, empirically using predicted loan-to-value as well as certain market and other factors. The LGD calculation also includes a separate maturity risk component. The primary economic drivers in the model are GDP growth, U.S. unemployment rate, and 10-Year Treasury yield. These economic drivers are translated into a forecast provided by Moody's Analytics' REIS of real estate metrics, such as rental rates, vacancies and cap rates. The model produces PD and LGD on a quarter-by-quarter basis for the life of loan. The owner-occupied commercial real-estate portfolio utilizes a top-down macroeconomic model using linear regression. This model produces portfolio level quarterly net charge-off rates for 10 years and carries forward the last quarter's projected expected loss percentage to remaining periods. The primary economic drivers for this model are the 7-year A vs Aa corporate bond spread and S&P 500 corporate after-tax profits. Commercial: Non-homogeneous commercial loans and leases and residential development loans are analyzed in a multi-step process. An initial PD is estimated using a model driven by an obligor's selected financial statement ratios, together with cycle-adjusting information based on the obligor's state and industry. An initial LGD is derived separately based on collateral type using collateral value and a haircut to reflect the loss in liquidation. Another model then applies an auto-regression technique to the initial PD and LGD metrics to estimate the PD and LGD curves according to the macroeconomic scenario over a one-year reasonable and supportable forecast. The primary economic drivers in the model are the S&P 500 Stock Price Index, S&P 500 Market Volatility Index, U.S. unemployment rate, as well as appropriate yield curves and credit spreads. This model utilizes output reversion methodology, which, after one year, reverts on a straight-line basis over two years to long-term PD estimated using financial statement ratios of each obligor. The model for the homogeneous lease and equipment finance agreement portfolio uses lease and equipment finance agreement information, such as origination and performance, as well as macroeconomic variables to calculate PD and LGD values. The PD calculation is based on survival analysis while LGD is calculated using a two-step regression. The model calculates LGD using an estimate of the probability that a defaulted lease or equipment finance agreement will have a loss, and an estimate of the loss amount. The primary economic drivers for the model are GDP, U.S. unemployment rate, and a home price growth index. The model produces PD and LGD curves at the lease or equipment finance agreement level for each month in the forecast horizon. Residential: The models for residential real estate and home equity lines of credit utilize loan level variables, such as origination and performance, as well as macroeconomic variables to calculate PD and LGD. The U.S. unemployment rate and home price growth rate indexes are primary economic drivers in both the residential real estate and HELOC models. In addition, the prime rate is also a primary driver in the HELOC model. The models focus on establishing an empirical relationship between default probabilities and a set of loan-level, borrower, and macroeconomic credit risk drivers. The LGD calculation for residential real estate is based on an estimate of the probability that a defaulted loan will have a loss, and then an estimate of the loss amount. HELOCs utilize the same model using residential real estate LGD values to assign loans to cohorts based on FICO scores and loan age. The model produces PD and LGD curves at the loan level for each quarter in the forecast horizon. Consumer: Historical net charge-off information as well as economic forecast assumptions are used to project loss rates for the Consumer segment. All loans and leases that have not been modeled receive a loss rate via an extrapolated rate methodology. The loans and leases receiving an extrapolated rate are typically newly originated loans and leases or loans and leases without the granularity of data necessary to be modeled. Based on the vintage year, credit classification, and reporting category of the modeled loans and leases, a loss factor is calculated and applied to the non-modeled loans and leases. Along with the quantitative factors produced by the above models, management also considers prepayment speeds and qualitative factors when determining the ACL. The Company uses a prepayment model that forecasts the constant prepayment rates based on institution specific data for the commercial real estate, commercial and consumer portfolios and a forward curve approach that changes with macro-economic input variables for the residential portfolio. Below are the nine qualitative factors considered where applicable: •Changes in lending policies and procedures, including changes in underwriting standards and collection, charge-off, and recovery practices not considered elsewhere in estimating credit losses. •Changes in national, regional, and local economic and business conditions and developments that affect the collectability of the portfolio, including the condition of various market segments. •Changes in the nature and volume of the portfolio and in the terms of loans and leases. •Changes in the experience, ability, and depth of lending management and other relevant staff. •Changes in the volume and severity of past due loans and leases, the volume of non-accrual loans and leases, and the volume and severity of adversely classified or graded loans and leases. •Changes in the quality of the Bank's credit review system. •Changes in the value of the underlying collateral for collateral-dependent loans and leases. •The existence and effect of any concentrations of credit, and changes in the level of such concentrations. •The effect of other external factors such as competition and legal and regulatory requirements on the level of estimated credit losses in the Bank's existing portfolio. The Company evaluated each qualitative factor as of September 30, 2021, and made qualitative overlay adjustments of approximately $16.9 million to increase the amounts indicated by the models as considered necessary to adequately reflect the significant changes in credit conditions and overall portfolio risk, including $13.8 million qualitative overlay increase related to loans collateralized by hotel, retail, and office properties. Loss factors from the models, prepayment speeds, and qualitative factors are input into the Company's CECL accounting application which aggregates the information. The Company then uses two methods to calculate the current expected credit loss: 1) the discounted cash flow method, which is used for all loans except lines of credit and 2) the non-discounted cash flow method which is used for lines of credit due to difficulty of calculating an effective interest rate when lines have yet to be drawn on. The DCF method utilizes the effective interest rate of individual assets to discount the expected credit losses adjusted for prepayments. The difference in the net present value and the amortized cost of the asset will result in the required allowance. The non-discounted cash flow method uses the exposure at default, along with the expected credit losses adjusted for prepayments to calculate the required allowance. The following tables summarize activity related to the allowance for credit losses by portfolio segment for the three and nine months ended September 30, 2021 and 2020:
The following table presents the unfunded commitments for the period ended September 30, 2021 and 2020:
Asset Quality and Non-Performing Loans and Leases The Bank manages asset quality and controls credit risk through diversification of the loan and lease portfolio and the application of policies designed to promote sound underwriting and loan and lease monitoring practices. The Bank's Credit Quality Administration department is charged with monitoring asset quality, establishing credit policies and procedures and enforcing the consistent application of these policies and procedures across the Bank. Reviews of non-performing, past due loans and leases and larger credits, designed to identify potential charges to the allowance for credit losses, and to determine the adequacy of the allowance, are conducted on an ongoing basis. These reviews consider such factors as the financial strength of borrowers, the value of the applicable collateral, loan and lease loss experience, estimated loan and lease losses, growth in the loan and lease portfolio, prevailing economic conditions and other factors. Loans and Leases Past Due and Non-Accrual Loans and Leases Typically, loans in a non-accrual status will not have an allowance for credit loss as they will be written down to their net realizable value or charged-off. However, the net realizable value for homogeneous leases and equipment finance agreements is determined by the LGD calculated by the CECL model and therefore leases and equipment finance agreements on non-accrual will have an allowance for credit losses until they become 181 days past due, at which time they are charged-off. The Company recognized no interest income on non-accrual loans and leases during the three and nine months ended September 30, 2021 and 2020. Due to the deterioration of the U.S. economy resulting from the COVID-19 pandemic, the Company had an increase in loan payment deferral and forbearance requests. Once a deferral or forbearance request is received, a late charge waiver is put in place and payments are suspended for an agreed-upon period. Accrued and unpaid interest during the deferral period will be collected upon the expiration of the deferral or on a regular repayment schedule at the end of the deferral period. For certain loan types, the maturity date may be extended to allow for full amortization. In accordance with various government-mandated programs, these loans are generally classified based on their past due status prior to their deferral period; as such, they are classified as performing loans that accrue interest. As of September 30, 2021, loans of approximately $132.5 million are currently deferred under various federal and state guidelines and are classified as current as their contractual payments have been deferred. These deferred loans do not include deferrals of delinquent repurchased GNMA loans as the credit risk of these loans are guaranteed by government programs such as Federal Housing Agency, Veterans Affairs, and USDA Rural Development. At September 30, 2021, approximately $121.0 million of GNMA repurchased loans were on deferral. At December 31, 2020, the Bank had $355.5 million in deferred loans under various federal and state guidelines, excluding GNMA repurchased loans on deferral of $177.7 million. The following tables present the carrying value of the loans and leases past due, by loan and lease class, as of September 30, 2021 and December 31, 2020:
(1) Loans and leases on non-accrual with an amortized cost basis of $24.2 million had a related allowance for credit losses of $7.3 million at September 30, 2021.
(1) Loans and leases on non-accrual with an amortized cost basis of $31.1 million had a related allowance for credit losses of $16.7 million at December 31, 2020. Collateral Dependent Loans and Leases Loans are classified as collateral dependent when it is probable that the Bank will be unable to collect the scheduled payments of principal and interest when due, and repayment is expected to be provided substantially through the operation or sale of the collateral. 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 September 30, 2021. There have been no significant changes in the level of collateralization from the prior periods.
Troubled Debt Restructuring At September 30, 2021 and December 31, 2020, troubled debt restructured loans of $9.8 million and $15.0 million, respectively, were classified as accruing TDR loans. The TDRs were granted in response to borrower financial difficulties, and generally provide for a temporary modification of loan repayment terms. In order for a new TDR loan to be considered for accrual status, the loan's collateral coverage generally will be greater than or equal to 100% of the loan balance, the loan is current on payments, and the borrower must either prefund an interest reserve or demonstrate the ability to make payments from a verified source of cash flow. The following tables present TDR loans by accrual versus non-accrual status and by portfolio segment as of September 30, 2021 and December 31, 2020:
The following table presents loans that were determined to be TDRs during the three and nine months ended September 30, 2021 and 2020:
Credit Quality Indicators Management regularly reviews loans and leases in the portfolio to assess credit quality indicators and to determine appropriate loan classification and grading. In addition, the board reviews and approves the credit quality indicators each year. The Bank differentiates its lending portfolios into homogeneous and non-homogeneous loans and leases. Homogeneous loans and leases are risk rated on a single risk rating scale based on the past due status of the loan or lease. The Bank's risk rating methodology for its non-homogeneous loans and leases uses a dual risk rating approach to assess the credit risk. This approach uses two scales to provide a comprehensive assessment of credit default risk and recovery risk. The probability of default scale measures a borrower's credit default risk using risk ratings ranging from 1 to 16, where a higher rating represents higher risk. For non-homogeneous loans and leases, PD ratings of 1 through 9 are "pass" grades, while PD ratings of 10 and 11 are "watch" grades. PD ratings of 12-16 correspond to the regulatory-defined categories of special mention (12), substandard (13-14), doubtful (15), and loss (16). The loss given default scale measures the amount of loss that may not be recovered in the event of a default, using six alphabetic ratings from A-F, where a higher rating represents higher risk. The LGD scale quantifies recovery risk associated with an event of default and predicts the amount of loss that would be incurred on a loan or lease if a borrower were to experience a major default and includes variables that may be external to the borrower, such as industry, geographic location, and credit cycle stage. It could also include variables specific to the borrower such as their probability of default and bankruptcies as well as variables specific to the loan or lease, including collateral valuation, covenant structure and debt type. The product of the borrower's PD and a loan or lease LGD is the loan or lease expected loss, expressed as a percentage. This provides a common language of credit risk across different loans. The PD scale estimates the likelihood that a borrower will experience a major default on any of its debt obligations within a specified time period. Examples of major defaults include payments 90 days or more past due, non-accrual classification, bankruptcy filing, or a full or partial charge-off of a loan or lease. As such, the PD scale represents the credit quality indicator for non-homogeneous loans and leases. The credit quality indicator rating categories follow regulatory classification and can be generally described by the following groupings for loans and leases: Pass/Watch—A pass loan or lease is a loan or lease with a credit risk level acceptable to the Bank for extending credit and maintaining normal credit monitoring. A watch loan or lease is considered pass rated but has a heightened level of unacceptable default risk due to an emerging risk element or declining performance trend. Watch ratings are expected to be temporary, with issues resolved or manifested to the extent that a higher or lower risk rating would be appropriate within a short period of time. Special Mention—A special mention loan or lease has potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the institution's credit position at some future date. These borrowers have an elevated probability of default but not to the point of a substandard classification. Substandard—A substandard asset is inadequately protected by the current net worth and paying capacity of the borrower or of the collateral pledged, if any. Assets classified as substandard have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. Doubtful—Loans or leases classified as doubtful have all the weaknesses inherent in those classified as substandard with the added characteristic that the weaknesses make collection or liquidation in full, based on currently existing facts, conditions, and values, highly questionable and improbable. Loss—Loans or leases classified as loss are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. The following tables represent 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 September 30, 2021 and December 31, 2020:
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Residential Mortgage Servicing Rights |
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Transfers and Servicing [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential Mortgage Servicing Rights | Residential Mortgage Servicing Rights The Company measures its mortgage servicing rights at fair value with changes in fair value reported in residential mortgage banking revenue, net. The following table presents the changes in the Company's residential mortgage servicing rights for the three and nine months ended September 30, 2021 and 2020:
(1) The changes in valuation inputs and assumptions principally reflect changes in discount rates and prepayment speeds, which are primarily affected by changes in interest rates. Information related to the Bank's serviced loan portfolio as of September 30, 2021 and December 31, 2020 is as follows:
The amount of contractually specified servicing fees, late fees and ancillary fees earned, recorded in residential mortgage banking revenue, was $9.2 million and $27.4 million for the three and nine months ended September 30, 2021, respectively, as compared to $8.8 million and $26.2 million for the three and nine months ended September 30, 2020, respectively.
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Commitments and Contingencies |
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Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||
Commitments and Contingencies | Commitments and Contingencies Financial Instruments with Off-Balance-Sheet Risk — The Company's financial statements do not reflect various commitments and contingent liabilities that arise in the normal course of the Bank's business and involve elements of credit, liquidity, and interest rate risk. The following table presents a summary of the Bank's commitments and contingent liabilities:
The Bank is a party to financial instruments with off-balance-sheet credit risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit, standby letters of credit and financial guarantees. Those instruments involve elements of credit and interest-rate risk similar to the risk involved in on-balance sheet items. The contract or notional amounts of those instruments reflect the extent of the Bank's involvement in particular classes of financial instruments. The Bank's exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit, and financial guarantees written, is represented by the contractual notional amount of those instruments. The Bank uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. There were no financial guarantees in connection with standby letters of credit that the Bank was required to perform on during the three and nine months ended September 30, 2021 and 2020. At September 30, 2021, approximately $113.4 million of standby letters of credit expire within one year, and $8.7 million expire thereafter. Residential mortgage loans sold into the secondary market are sold with limited recourse against the Company, meaning that the Company may be obligated to repurchase or otherwise reimburse the investor for incurred losses on any loans that suffer an early payment default, are not underwritten in accordance with investor guidelines or are determined to have pre-closing borrower misrepresentations. As of September 30, 2021, the Company had a residential mortgage loan repurchase reserve liability of $545,000. Legal Proceedings—The Company is involved in legal proceedings occurring in the ordinary course of business. Based on information currently available, advice of counsel and available insurance coverage, management believes that the eventual outcome of actions against the Company or its subsidiaries will not, individually or in the aggregate, have a material adverse effect on its consolidated financial condition. However, it is possible that the ultimate resolution of a matter, if unfavorable, may be material to results of operations for any particular period. Contingencies—In 2020, the Company launched "Next Gen 2.0," an initiative designed to continue to modernize the Bank, advance technology initiatives, and improve operating leverage. As part of this initiative, management continues to evaluate all aspects of the Company's operations. The Company consolidated 12 store locations in April 2021 and consolidated an additional 15 store locations in October and November 2021. Costs associated with these consolidations will be included in exit and disposal costs within other expenses in non-interest expense. The Next Gen 2.0 strategy involves evaluation of these consolidations and possible future consolidations. On October 12, 2021, Umpqua and Columbia announced that their boards of directors unanimously approved a Merger Agreement under which the two companies will combine in an all-stock transaction. Under the terms of the Merger Agreement, Umpqua shareholders will receive 0.5958 of a share of Columbia stock for each Umpqua share they own. Upon completion of the transaction, Umpqua shareholders will own approximately 62% and Columbia shareholders will own approximately 38% of the combined company. The merger is expected to close in mid-2022, subject to satisfaction of customary closing conditions, including receipt of regulatory approvals and approvals from each company's shareholders. Refer to the subsequent event footnote for additional information. Concentrations of Credit Risk— The Bank grants real estate mortgage, real estate construction, commercial, agricultural and installment loans and leases to customers throughout Oregon, Washington, California, Idaho, and Nevada. In management's judgment, a concentration exists in real estate-related loans, which represented approximately 75% and 71% of the Bank's loan and lease portfolio at September 30, 2021 and December 31, 2020, respectively. Commercial real estate concentrations are managed to ensure geographic and business diversity, primarily in our footprint. Although management believes such concentrations have no more than the normal risk of collectability, a substantial decline in the economy in general or caused by the COVID-19 pandemic, material increases in interest rates, changes in tax policies, tightening credit or refinancing markets, or a decline in real estate values in the Bank's primary market areas in particular, could have an adverse impact on the repayment of these loans. Personal and business incomes, proceeds from the sale of real property, or proceeds from refinancing represent the primary sources of repayment for a majority of these loans. The Bank recognizes the credit risks inherent in dealing with other depository institutions. Accordingly, to prevent excessive exposure to any single correspondent, the Bank has established general standards for selecting correspondent banks as well as internal limits for allowable exposure to any single correspondent. In addition, the Bank has an investment policy that sets forth limitations that apply to all investments with respect to credit rating and concentrations with an issuer.
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Derivatives |
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Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivatives | Derivatives The Bank may use derivatives to hedge the risk of changes in the fair values of interest rate lock commitments and residential mortgage loans held for sale. None of the Company's derivatives are designated as hedging instruments. Rather, they are accounted for as free-standing derivatives, or economic hedges, with changes in the fair value of the derivatives reported in income. The Company primarily utilizes forward interest rate contracts in its derivative risk management strategy. The Bank enters into forward delivery contracts to sell residential mortgage loans or mortgage-backed securities to broker-dealers at specific prices and dates in order to hedge the interest rate risk in its portfolio of mortgage loans held for sale and its residential mortgage interest rate lock commitments. Credit risk associated with forward contracts is limited to the replacement cost of those forward contracts in a gain position. There were no counterparty default losses on forward contracts in the three and nine months ended September 30, 2021 and 2020. Market risk with respect to forward contracts arises principally from changes in the value of contractual positions due to changes in interest rates. The Bank limits its exposure to market risk by monitoring differences between commitments to customers and forward contracts with broker-dealers. In the event the Company has forward delivery contract commitments in excess of available mortgage loans, the Company completes the transaction by either paying or receiving a fee to or from the broker-dealer equal to the increase or decrease in the market value of the forward contract. At September 30, 2021, the Bank had commitments to originate mortgage loans held for sale totaling $432.7 million and forward sales commitments of $555.2 million, which are used to hedge both on-balance sheet and off-balance sheet exposures. The Bank executes interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. Those interest rate swaps are simultaneously hedged by offsetting the interest rate swaps that the Bank executes with a third party, such that the Bank minimizes its net risk exposure. As of September 30, 2021, the Bank had 914 interest rate swaps with an aggregate notional amount of $6.6 billion related to this program. As of December 31, 2020, the Bank had 886 interest rate swaps with an aggregate notional amount of $6.2 billion related to this program. As of September 30, 2021 and December 31, 2020, the termination value of interest rate swaps in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $8.9 million and $370,000, respectively. The Bank has collateral posting requirements for initial margins with its clearing members and clearing houses and has been required to post collateral against its obligations under these agreements of $89.0 million and $92.6 million as of September 30, 2021 and December 31, 2020, respectively. The Bank's interest rate swap derivatives are cleared through the Chicago Mercantile Exchange and London Clearing House. These clearing houses characterize the variation margin payments, for derivative contracts that are referred to as settled-to-market, as settlements of the derivative's mark-to-market exposure and not collateral. The Company accounts for the variation margin as an adjustment to cash collateral, as well as a corresponding adjustment to the derivative asset and liability. As of September 30, 2021 and December 31, 2020, the variation margin adjustments were negative adjustments of $198.7 million and $330.5 million, respectively. The Bank incorporates credit valuation adjustments to appropriately reflect nonperformance risk in the fair value measurement of its derivatives. The net CVA reduced the settlement values of the Bank's net derivative assets by $9.7 million and $18.5 million as of September 30, 2021 and December 31, 2020, respectively. Various factors impact changes in the CVA over time, including changes in the credit spreads of the parties to the contracts, as well as changes in market rates and volatilities, which affect the total expected exposure of the derivative instruments. The Bank also executes foreign currency hedges as a service for customers. These foreign currency hedges are then offset with hedges with other third-party banks to limit the Bank's risk exposure. The Bank's derivative assets are included in other assets, while the derivative liabilities are included in other liabilities. The following table summarizes the types of derivatives, separately by assets and liabilities, and the fair values of such derivatives as of September 30, 2021 and December 31, 2020:
The gains and losses on the Company's mortgage banking derivatives are included in mortgage banking revenue. The gains and losses on the Company's interest rate swaps and foreign currency derivatives are included in other income. The following table summarizes the types of derivatives and the gains (losses) recorded during the three and nine months ended September 30, 2021 and 2020:
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Earnings (Loss) Per Common Share |
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Earnings (Loss) Per Common Share | Earnings (Loss) Per Common Share The following is a computation of basic and diluted earnings (loss) per common share for the three and nine months ended September 30, 2021 and 2020:
(1)Represents the effect of the assumed vesting of non-participating restricted shares based on the treasury stock method. The following table represents the weighted average outstanding restricted shares that were not included in the computation of diluted earnings (loss) per share because their effect would be anti-dilutive for the three and nine months ended September 30, 2021 and 2020:
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Segment Information |
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Segment Information | Segment Information In the first quarter of 2021, the Company realigned its operating segments based on changes in management's focus and its internal reporting structure. The Company now reports two segments: Core Banking and Mortgage Banking. The prior periods have been restated to reflect these two segments. Management periodically updates the allocation methods and assumptions within the current segment structure. The Core Banking segment includes all lines of business, except Mortgage Banking, including wholesale, retail, and private banking, as well as the operations, technology, and administrative functions of the Bank and Holding Company. The Mortgage Banking segment includes the revenue earned from the production and sale of residential real estate loans, the servicing income from the serviced loan portfolio, the quarterly changes to the MSR, and the specific expenses that are related to mortgage banking activities including variable commission expenses. Revenue and related expenses related to residential real estate loans held for investment are included in the Core Banking segment as portfolio loans are an anchor product for the consumer channels and are originated through a variety of channels throughout the Company. Summarized financial information concerning the Company's reportable segments and the reconciliation to the consolidated financial results is shown in the following tables:
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Fair Value Measurement |
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurement | Fair Value Measurement The following table presents estimated fair values of the Company's financial instruments as of September 30, 2021 and December 31, 2020, whether or not recognized or recorded at fair value in the Condensed Consolidated Balance Sheets:
Fair Value of Assets and Liabilities Measured on a Recurring Basis The following tables present information about the Company's assets and liabilities measured at fair value on a recurring basis as of September 30, 2021 and December 31, 2020:
(1) Other investment securities includes securities held by Umpqua Investments as trading debt securities. The following methods were used to estimate the fair value of each class of financial instrument that is carried at fair value in the tables above: Securities— Fair values for investment securities are based on quoted market prices when available or through the use of alternative approaches, such as matrix or model pricing, or broker indicative bids, when market quotes are not readily accessible or available. Management periodically reviews the pricing information received from the third-party pricing service and compares it to a secondary pricing service, evaluating significant price variances between services to determine an appropriate estimate of fair value to report. Loans Held for Sale— Fair value for residential mortgage loans originated as held for sale is determined based on quoted secondary market prices for similar loans, including the implicit fair value of embedded servicing rights. Loans and leases— Fair values are estimated for portfolios of loans with similar financial characteristics. Loans are segregated by type, including commercial, real estate and consumer loans. Each loan category is further segregated by fixed and adjustable rate loans. The fair value of loans is calculated by discounting expected cash flows at rates at which similar loans are currently being made. These amounts are discounted further by embedded probable losses expected to be realized in the portfolio. For loans originated as held for sale and transferred into loans held for investment, the fair value is determined based on quoted secondary market prices for similar loans. As of September 30, 2021, there were $353.9 million in mortgage loans recorded at fair value as they were previous transferred from held for sale to loans held for investment. Residential Mortgage Servicing Rights— The fair value of the MSRs is estimated using a discounted cash flow model. Assumptions used include market discount rates, anticipated prepayment speeds, delinquency and foreclosure rates, and ancillary fee income net of servicing costs. This model is periodically validated by an independent model validation group. The model assumptions and the MSR fair value estimates are also compared to observable trades of similar portfolios as well as to MSR broker valuations and industry surveys, as available. Management believes the significant inputs utilized are indicative of those that would be used by market participants. Junior Subordinated Debentures— The fair value of junior subordinated debentures is estimated using an income approach valuation technique. The significant unobservable input utilized in the estimation of fair value of these instruments is the credit risk adjusted spread. The credit risk adjusted spread represents the nonperformance risk of the liability, contemplating the inherent risk of the obligation. The Company periodically utilizes a valuation firm to determine or validate the reasonableness of inputs and factors that are used to determine the fair value. The ending carrying (fair) value of the junior subordinated debentures measured at fair value represents the estimated amount that would be paid to transfer these liabilities in an orderly transaction amongst market participants. Due to credit concerns in the capital markets and inactivity in the trust preferred markets that have limited the observability of market spreads, the Company has classified this as a Level 3 fair value measurement. Derivative Instruments— The fair value of the interest rate lock commitments and forward sales commitments are estimated using quoted or published market prices for similar instruments, adjusted for factors such as pull-through rate assumptions based on historical information, where appropriate. The pull-through rate assumptions are considered Level 3 valuation inputs and are significant to the interest rate lock commitment valuation; as such, the interest rate lock commitment derivatives are classified as Level 3. The fair value of the interest rate swaps is determined using a discounted cash flow technique incorporating credit valuation adjustments to reflect nonperformance risk in the measurement of fair value. Although the Bank has determined that the majority of the inputs used to value its interest rate swap derivatives fall within Level 2 of the fair value hierarchy, the CVA associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. However, as of September 30, 2021, the Bank has assessed the significance of the impact of the CVA on the overall valuation of its interest rate swap positions and has determined that the CVA are not significant to the overall valuation of its interest rate swap derivatives. As a result, the Bank has classified its interest rate swap derivative valuations in Level 2 of the fair value hierarchy. Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3) The following table provides a description of the valuation technique, significant unobservable inputs, and qualitative information about the unobservable inputs for the Company's assets and liabilities classified as Level 3 and measured at fair value on a recurring basis at September 30, 2021:
Generally, increases in the constant prepayment rate or the discount rate utilized in the fair value measurement of the residential mortgage servicing rights will result in a decrease in fair value. Conversely, decreases in the constant prepayment rate or the discount rate will result in an increase in fair value. An increase in the pull-through rate utilized in the fair value measurement of the interest rate lock commitment derivative will result in an increase in the fair value measurement. Conversely, a decrease in the pull-through rate will result in a decrease in the fair value measurement. Management believes that the credit risk adjusted spread utilized in the fair value measurement of the junior subordinated debentures carried at fair value is indicative of the nonperformance risk premium a willing market participant would require under current market conditions, which is an inactive market. Generally, an increase in the credit spread will result in a decrease in the estimated fair value. Conversely, a decrease in the credit spread will result in an increase in the estimated fair value. The following table provides a reconciliation of assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the three and nine months ended September 30, 2021 and 2020:
Changes in residential mortgage servicing rights carried at fair value are recorded in residential mortgage banking revenue within non-interest income. Gains (losses) on interest rate lock commitments carried at fair value are recorded in residential mortgage banking revenue within non-interest income. The contractual interest expense on the junior subordinated debentures is recorded on an accrual basis as interest on junior subordinated debentures within interest expense. Settlements related to the junior subordinated debentures represent the payment of accrued interest that is embedded in the fair value of these liabilities. The change in fair value of junior subordinated debentures is attributable to the change in the instrument specific credit risk; accordingly, the unrealized losses on fair value of junior subordinated debentures of $11.9 million and $44.5 million for the three and nine months ended September 30, 2021, are recorded net of tax as an other comprehensive loss of $8.9 million and $33.1 million, respectively. Comparatively, unrealized losses of $14.6 million and unrealized gains of $26.9 million were recorded net of tax as an other comprehensive loss of $10.8 million and other comprehensive income of $20.0 million, respectively, for the three and nine months ended September 30, 2020. Fair Value of Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis From time to time, certain assets are measured at fair value on a nonrecurring basis. These adjustments to fair value generally result from the application of lower-of-cost-or-market accounting or write-downs of individual assets due to impairment, typically on collateral dependent loans. The following tables present information about the Company's assets and liabilities measured at fair value on a nonrecurring basis for which a nonrecurring change in fair value has been recorded during the reporting period. The amounts disclosed below represent the fair values at the time the nonrecurring fair value measurements were made, and not necessarily the fair value as of the dates reported upon.
The following table presents the losses resulting from nonrecurring fair value adjustments for the three and nine months ended September 30, 2021 and 2020:
Goodwill was evaluated for impairment as of March 31, 2020, resulting in an impairment charge of $1.8 billion for the nine months ended September 30, 2020. The following provides a description of the valuation technique and inputs for the Company's assets and liabilities classified as Level 3 and measured at fair value on a nonrecurring basis, excluding goodwill. Unobservable inputs and qualitative information about the unobservable inputs are not presented as the fair value is determined by third-party information for loans and leases. The loans and leases amounts above represent collateral dependent loans and leases that have been adjusted to fair value. When a loan or non-homogeneous lease is identified as collateral dependent, the Bank measures the impairment using the current fair value of the collateral, less selling costs. Depending on the characteristics of a loan or lease, the fair value of collateral is generally estimated by obtaining external appraisals, but in some cases, the value of the collateral may be estimated as having little to no value. When a homogeneous lease or equipment finance agreement becomes 181 days past due, it is determined that the collateral has little to no value. If it is determined that the value of the collateral dependent loan or lease is less than its recorded investment, the Bank recognizes this impairment and adjusts the carrying value of the loan or lease to fair value, less costs to sell, through the allowance for credit losses. The loss represents charge-offs on collateral dependent loans and leases for fair value adjustments based on the fair value of collateral. Fair Value Option The following table presents the difference between the aggregate fair value and the aggregate unpaid principal balance of loans held for sale and loans held for investment accounted for under the fair value option as of September 30, 2021 and December 31, 2020:
Residential mortgage loans held for sale accounted for under the fair value option are measured initially at fair value with subsequent changes in fair value recognized in earnings. Gains and losses from such changes in fair value are reported as a component of residential mortgage banking revenue. For the three and nine months ended September 30, 2021, the Company recorded net decreases in fair value of $4.5 million and $13.5 million, respectively. For the three and nine months ended September 30, 2020, the Company recorded a net increase in fair value of $2.2 million and $16.5 million, respectively. Certain residential mortgage loans were initially originated for sale and initially measured at fair value; after origination, the loans were transferred to loans held for investment. Gains and losses from changes in fair value for these loans are reported in earnings as a component of other income. For the three and nine months ended September 30, 2021, the Company recorded a net increase in fair value of $3.4 million and $5.7 million, respectively. The Company selected the fair value measurement option for certain junior subordinated debentures. The remaining junior subordinated debentures were acquired through previous business combinations and were measured at fair value at the time of acquisition and subsequently measured at amortized cost.
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Income Taxes |
9 Months Ended |
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Sep. 30, 2021 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction, as well as in the majority of states. As of September 30, 2021, the Company has a net deferred tax asset of $8.4 million, which includes $1.3 million of state net operating loss carry-forwards, expiring in the tax years of 2029-2031. The Company believes that it is more likely than not that the benefit from only certain state NOL carry-forwards will not be realized and therefore has provided a valuation allowance of $1.1 million against the deferred tax assets relating to these NOL carry-forwards. The Company had gross unrecognized tax benefits of $3.4 million as of September 30, 2021. If recognized, the unrecognized tax benefit would reduce the 2021 annual effective tax rate by 0.56%. The Company's consolidated effective tax rate as a percentage of pre-tax income (loss) for the nine months ended September 30, 2021 was 24.7%, as compared to (4.4)% for the nine months ended September 30, 2020. The effective tax rate increased from the prior year primarily due to the impairment of non-deductible goodwill during the nine months ended September 30, 2020. Additionally, the effective tax rates differed from the statutory rate principally because of state taxes, non-taxable income arising from bank-owned life insurance, income on tax-exempt investment securities and tax credits arising from low-income housing investments.
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Subsequent Event |
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Sep. 30, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Event | Subsequent Event On October 12, 2021, Umpqua and Columbia announced that their boards of directors unanimously approved a Merger Agreement under which the two companies will combine in an all-stock transaction. Upon the terms and subject to the conditions set forth in the Merger Agreement, Merger Sub will merge with and into Umpqua, with Umpqua surviving the Merger, and immediately following the Merger and as a part of a single integrated transaction, Umpqua will merge with and into Columbia, with Columbia continuing as the surviving entity. Umpqua shareholders will receive 0.5958 of a share of Columbia stock for each Umpqua share they own. Upon completion of the transaction, Umpqua shareholders will own approximately 62% and Columbia shareholders will own approximately 38% of the combined company. The completion of the Merger is subject to customary conditions, including (1) approval by Umpqua's and Columbia's shareholders, (2) approval by Columbia's shareholders of an amendment to Columbia's articles of incorporation to increase the number of authorized shares of Columbia's common stock, (3) authorization for listing on the NASDAQ of the shares of Columbia's common stock to be issued in the Merger, (4) the receipt of required regulatory approvals for the Merger from the Federal Reserve Board, Federal Deposit Insurance Corporation and Oregon and Washington state bank regulators, in each case without the imposition of any materially burdensome regulatory condition, (5) effectiveness of the registration statement on Form S-4 for Columbia's common stock to be issued in the Merger, and (6) the absence of any order, injunction or other legal restraint preventing the completion of the Merger or making the completion of the Merger illegal. Each party's obligation to complete the Merger is also subject to certain additional customary conditions. The Merger Agreement provides certain termination rights for both Umpqua and Columbia and further provides that, upon termination of the Merger Agreement under certain circumstances, Umpqua or Columbia, as applicable, will be obligated to pay the other party a termination fee of $145.0 million. At September 30, 2021, Columbia reported $18.6 billion in assets, including $9.4 billion in net loans and $4.8 billion in available for sale debt securities, $16.0 billion in deposits, and $2.3 billion in shareholders' equity. The transaction is expected to close in mid-2022. A summary of the terms of the Merger Agreement and other related agreements are summarized in, and the Merger Agreement has been filed as an exhibit to, the Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission on October 12, 2021.
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Summary of Significant Accounting Policies (Policies) |
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Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
Recent Accounting Pronouncements | Recent accounting pronouncements In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This ASU was issued to provide temporary optional guidance to ease the potential burden in accounting for reference rate reform. The guidance provides optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. The last expedient is a one-time election to sell or transfer debt securities classified as held to maturity. The expedients are in effect from March 12, 2020, through December 31, 2022. The Company will be able to use the expedients in this guidance to manage through the transition away from LIBOR, specifically for our loan portfolio. In January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848): Scope. The amendments in this ASU are elective and apply to all entities that have derivative instruments that use an interest rate for margining, discounting, or contract price alignment that is modified as a result of reference rate reform. The amendments clarify certain optional expedients and exceptions in Topic 848. The amendments are in effect from March 12, 2020, through December 31, 2022. This ASU does not have a material impact on the Company's consolidated financial statements.
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Derivatives | Derivatives The Bank may use derivatives to hedge the risk of changes in the fair values of interest rate lock commitments and residential mortgage loans held for sale. None of the Company's derivatives are designated as hedging instruments. Rather, they are accounted for as free-standing derivatives, or economic hedges, with changes in the fair value of the derivatives reported in income. The Company primarily utilizes forward interest rate contracts in its derivative risk management strategy. |
Investment Securities (Tables) |
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Amortized Cost, Unrealized Gains And Losses, And Fair Value Of Investment Securities | The following tables present the amortized cost, unrealized gains, unrealized losses and approximate fair values of debt securities at September 30, 2021 and December 31, 2020:
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Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value | Debt securities that were in an unrealized loss position as of September 30, 2021 and December 31, 2020 are presented in the following tables, based on the length of time individual securities have been in an unrealized loss position.
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Schedule Of Maturities Of Investment Securities | The following table presents the contractual maturities of debt securities at September 30, 2021:
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Investment Securities Pledged To Secure Borrowings And Public Deposits | The following table presents, as of September 30, 2021, investment securities that were pledged to secure borrowings, public deposits, and repurchase agreements as permitted or required by law:
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Loans and Leases (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Major Types Of Non-Covered Loans | The following table presents the major types of loans and leases, net of deferred fees and costs, as of September 30, 2021 and December 31, 2020:
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Summary of Loans and Leases Sold | The following table summarizes the carrying value of loans and leases sold by major loan type during the three and nine months ended September 30, 2021 and 2020:
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Allowance for Credit Losses (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Activity In The Non-Covered Allowance For Loan And Lease Losses | The following tables summarize activity related to the allowance for credit losses by portfolio segment for the three and nine months ended September 30, 2021 and 2020:
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Loans and Leases Past Due and Non-Accrual Loans and Leases | The following tables present the carrying value of the loans and leases past due, by loan and lease class, as of September 30, 2021 and December 31, 2020:
(1) Loans and leases on non-accrual with an amortized cost basis of $24.2 million had a related allowance for credit losses of $7.3 million at September 30, 2021.
(1) Loans and leases on non-accrual with an amortized cost basis of $31.1 million had a related allowance for credit losses of $16.7 million at December 31, 2020.
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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 September 30, 2021. There have been no significant changes in the level of collateralization from the prior periods.
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Schedule of Reserve for Unfunded Commitments | The following table presents the unfunded commitments for the period ended September 30, 2021 and 2020:
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Schedule Of Troubled Debt Restructurings | The following tables present TDR loans by accrual versus non-accrual status and by portfolio segment as of September 30, 2021 and December 31, 2020:
The following table presents loans that were determined to be TDRs during the three and nine months ended September 30, 2021 and 2020:
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Internal Risk Rating By Loan Class | The following tables represent 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 September 30, 2021 and December 31, 2020:
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Residential Mortgage Servicing Rights (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers and Servicing [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Changes In Mortgage Servicing Rights | The following table presents the changes in the Company's residential mortgage servicing rights for the three and nine months ended September 30, 2021 and 2020:
(1) The changes in valuation inputs and assumptions principally reflect changes in discount rates and prepayment speeds, which are primarily affected by changes in interest rates.
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Schedule Of Other Information Servicing Loan Portfolio | Information related to the Bank's serviced loan portfolio as of September 30, 2021 and December 31, 2020 is as follows:
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Commitments and Contingencies (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||
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Sep. 30, 2021 | |||||||||||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||
Schedule Of Commitments And Contingencies | The following table presents a summary of the Bank's commitments and contingent liabilities:
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Derivatives (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary Of Types Of Derivatives, Separately By Assets And Liabilities And Fair Value Of Derivatives | The following table summarizes the types of derivatives, separately by assets and liabilities, and the fair values of such derivatives as of September 30, 2021 and December 31, 2020:
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Summary Of Types Of Derivatives And Gains (Losses) Recorded | The following table summarizes the types of derivatives and the gains (losses) recorded during the three and nine months ended September 30, 2021 and 2020:
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Earnings (Loss) Per Common Share (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Computation of Basic and Diluted Earnings Per Common Share | The following is a computation of basic and diluted earnings (loss) per common share for the three and nine months ended September 30, 2021 and 2020:
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Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The following table represents the weighted average outstanding restricted shares that were not included in the computation of diluted earnings (loss) per share because their effect would be anti-dilutive for the three and nine months ended September 30, 2021 and 2020:
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Segment Information (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment | Summarized financial information concerning the Company's reportable segments and the reconciliation to the consolidated financial results is shown in the following tables:
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Fair Value Measurement (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value, by Balance Sheet Grouping | The following table presents estimated fair values of the Company's financial instruments as of September 30, 2021 and December 31, 2020, whether or not recognized or recorded at fair value in the Condensed Consolidated Balance Sheets:
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Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following tables present information about the Company's assets and liabilities measured at fair value on a recurring basis as of September 30, 2021 and December 31, 2020:
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Fair Value Measurement Inputs and Valuation Techniques | The following table provides a description of the valuation technique, significant unobservable inputs, and qualitative information about the unobservable inputs for the Company's assets and liabilities classified as Level 3 and measured at fair value on a recurring basis at September 30, 2021:
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Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | The following table provides a reconciliation of assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the three and nine months ended September 30, 2021 and 2020:
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Fair Value Measurements, Nonrecurring | The following tables present information about the Company's assets and liabilities measured at fair value on a nonrecurring basis for which a nonrecurring change in fair value has been recorded during the reporting period. The amounts disclosed below represent the fair values at the time the nonrecurring fair value measurements were made, and not necessarily the fair value as of the dates reported upon.
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Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings | The following table presents the losses resulting from nonrecurring fair value adjustments for the three and nine months ended September 30, 2021 and 2020:
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Fair Value Option, Disclosures | The following table presents the difference between the aggregate fair value and the aggregate unpaid principal balance of loans held for sale and loans held for investment accounted for under the fair value option as of September 30, 2021 and December 31, 2020:
|
Investment Securities (Amortized Cost, Unrealized Gains And Losses, And Fair Value Of Investment Securities) (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
---|---|---|
Investment Holdings [Line Items] | ||
Available-for-sale securities, amortized cost | $ 3,685,650 | $ 2,801,500 |
Available-for-sale securities, unrealized gains | 76,427 | 131,850 |
Available-for-sale securities, unrealized losses | (38,906) | (792) |
Available for sale, at fair value | 3,723,171 | 2,932,558 |
Investment securities held to maturity | 2,795 | 3,034 |
Held-to-maturity securities, unrealized gains | 786 | 849 |
Held-to-maturity securities, unrealized losses | 0 | 0 |
Held-to-maturity securities, fair value | 3,581 | 3,883 |
U.S. Treasury and agencies | ||
Investment Holdings [Line Items] | ||
Available-for-sale securities, amortized cost | 806,469 | 698,243 |
Available-for-sale securities, unrealized gains | 35,304 | 64,271 |
Available-for-sale securities, unrealized losses | (2,796) | (312) |
Available for sale, at fair value | 838,977 | 762,202 |
Obligations of states and political subdivisions | ||
Investment Holdings [Line Items] | ||
Available-for-sale securities, amortized cost | 272,275 | 263,546 |
Available-for-sale securities, unrealized gains | 11,851 | 15,996 |
Available-for-sale securities, unrealized losses | (717) | (31) |
Available for sale, at fair value | 283,409 | 279,511 |
Residential mortgage-backed securities and collateralized mortgage obligations | ||
Investment Holdings [Line Items] | ||
Available-for-sale securities, amortized cost | 2,606,906 | 1,839,711 |
Available-for-sale securities, unrealized gains | 29,272 | 51,583 |
Available-for-sale securities, unrealized losses | (35,393) | (449) |
Available for sale, at fair value | 2,600,785 | 1,890,845 |
Investment securities held to maturity | 2,795 | 3,034 |
Held-to-maturity securities, unrealized gains | 786 | 849 |
Held-to-maturity securities, unrealized losses | 0 | 0 |
Held-to-maturity securities, fair value | $ 3,581 | $ 3,883 |
Investment Securities (Schedule Of Fair Value And Unrealized Losses Of Securities) (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
---|---|---|
Investment Holdings [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 1,672,996 | $ 249,015 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 36,836 | 792 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 42,366 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 2,070 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 1,715,362 | 249,015 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 38,906 | 792 |
U.S. Treasury and agencies | ||
Investment Holdings [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 119,093 | 29,493 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1,773 | 312 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 18,805 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 1,023 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 137,898 | 29,493 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 2,796 | 312 |
Obligations of states and political subdivisions | ||
Investment Holdings [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 53,099 | 4,357 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 717 | 31 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 53,099 | 4,357 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 717 | 31 |
Residential mortgage-backed securities and collateralized mortgage obligations | ||
Investment Holdings [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 1,500,804 | 215,165 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 34,346 | 449 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 23,561 | 0 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 1,047 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 1,524,365 | 215,165 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $ 35,393 | $ 449 |
Investment Securities (Narrative) (Details) - USD ($) $ in Millions |
Sep. 30, 2021 |
Dec. 31, 2020 |
---|---|---|
Debt Securities [Member] | ||
Marketable Securities [Line Items] | ||
Interest Receivable | $ 12.2 | $ 8.9 |
Investment Securities (Schedule Of Contractual Maturities Of Investment Securities) (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
---|---|---|
Investment Holdings [Line Items] | ||
Available-for-sale securities, due within one year, amortized cost | $ 16,913 | |
Available-for-sale securities, after one year through five years, amortized cost | 122,809 | |
Available-for-sale securities, after five years through ten years, amortized cost | 967,343 | |
Available-for-sale securities, after ten years, amortized cost | 2,578,585 | |
Available-for-sale securities, amortized cost | 3,685,650 | $ 2,801,500 |
Available-for-sale securities, due within one year, fair value | 17,150 | |
Available-for-sale securities, after one year through five years, fair value | 128,548 | |
Available-for-sale securities, after five years through ten years, fair value | 1,004,037 | |
Available-for-sale securities, after ten years, fair value | 2,573,436 | |
Debt Securities, Available-for-sale | 3,723,171 | 2,932,558 |
Held-to-maturity securities, due within one year, amortized cost | 0 | |
Held-to-maturity securities, after one year through five years, amortized cost | 2 | |
Held-to-maturity securities, after five years through ten years, amortized cost | 8 | |
Held-to-maturity securities, after ten years, amortized cost | 2,785 | |
Investment securities held to maturity | 2,795 | 3,034 |
Held-to-maturity securities, due within one year, fair value | 0 | |
Held-to-maturity securities, after one year through five years, fair value | 2 | |
Held-to-maturity securities, after five years through ten years, fair value | 8 | |
Held-to-maturity securities, after ten years, fair value | 3,571 | |
Held-to-maturity securities, fair value | $ 3,581 | $ 3,883 |
Investment Securities (Investment Securities Pledged To Secure Borrowings And Public Deposits) (Details) $ in Thousands |
Sep. 30, 2021
USD ($)
|
---|---|
Investments, Debt and Equity Securities [Abstract] | |
To state and local governments to secure public deposits, amortized cost | $ 293,931 |
Other securities pledged principally to secure repurchase agreements, amortized cost | 746,122 |
Total pledged securities, amortized cost | 1,040,053 |
To state and local governments to secure public deposits, fair value | 301,370 |
Other securities pledged principally to secure repurchase agreements, fair value | 770,020 |
Total pledged securities, fair value | $ 1,071,390 |
Loans and Leases (Schedule Of Major Types Of Loans And Leases) (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
---|---|---|
Receivables [Abstract] | ||
Non-owner occupied term, net | $ 3,561,764 | $ 3,505,802 |
Owner occupied term, net | 2,330,338 | 2,333,945 |
Multifamily, net | 3,813,024 | 3,349,196 |
Construction & development, net | 882,778 | 828,478 |
Residential development, net | 177,148 | 192,761 |
Term, net | 3,159,466 | 4,024,467 |
Lines of credit & other, net | 930,350 | 862,760 |
Leases & equipment finance, net | 1,457,248 | 1,456,630 |
Mortgage, net | 4,330,860 | 3,871,906 |
Home equity loans & lines, net | 1,133,823 | 1,136,064 |
Consumer & other, net | 193,141 | 217,358 |
Total loans and leases, net of deferred fees and costs | $ 21,969,940 | $ 21,779,367 |
Loans and Leases (Narrative) (Details) $ in Millions |
3 Months Ended | 9 Months Ended | 12 Months Ended | ||
---|---|---|---|---|---|
Sep. 30, 2021
USD ($)
|
Sep. 30, 2020
USD ($)
|
Sep. 30, 2021
USD ($)
numberOfLoans
|
Sep. 30, 2020
USD ($)
|
Dec. 31, 2020
USD ($)
numberOfLoans
|
|
Receivables [Abstract] | |||||
Loans and leases, deferred fees and costs | $ 47.7 | $ 47.7 | $ 38.6 | ||
Number of PPP Loans | numberOfLoans | 7,500 | 15,000 | |||
Total PPP Loan Amount | $ 726.7 | $ 1,800.0 | |||
PPP Loan Fees, Net of Costs | 21.2 | 26.9 | |||
Discounts on acquired loans | 11.4 | 11.4 | 17.9 | ||
Total loans pledged to secure borrowings | 14,400.0 | 14,400.0 | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Interest income recognized on leases | $ 6.1 | $ 6.7 | $ 17.3 | $ 20.5 | |
Minimum | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Lease term | 3 years | 3 years | |||
Maximum | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Lease term | 5 years | 5 years | |||
Loans [Member] | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Interest Receivable | $ 63.3 | $ 63.3 | $ 74.8 |
Loans and Leases (Loans and Leases Sold) (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
Financing Receivable, Past Due [Line Items] | ||||
Carrying value of loans and leases sold | $ 38,386 | $ 18,299 | $ 171,706 | $ 57,444 |
Commercial real estate | Non-owner occupied term, net | ||||
Financing Receivable, Past Due [Line Items] | ||||
Carrying value of loans and leases sold | 14,828 | 3,009 | 38,124 | 12,767 |
Commercial real estate | Owner occupied term, net | ||||
Financing Receivable, Past Due [Line Items] | ||||
Carrying value of loans and leases sold | 12,692 | 6,138 | 25,115 | 15,330 |
Commercial real estate | Multifamily, net | ||||
Financing Receivable, Past Due [Line Items] | ||||
Carrying value of loans and leases sold | 0 | 0 | 3,776 | 0 |
Commercial | Term, net | ||||
Financing Receivable, Past Due [Line Items] | ||||
Carrying value of loans and leases sold | 10,866 | 8,628 | 39,180 | 28,780 |
Commercial | Lines of credit & other, net | ||||
Financing Receivable, Past Due [Line Items] | ||||
Carrying value of loans and leases sold | 0 | 159 | 0 | 159 |
Commercial | Leases & equipment finance, net | ||||
Financing Receivable, Past Due [Line Items] | ||||
Carrying value of loans and leases sold | 0 | 0 | 0 | 43 |
Residential | Mortgage, net | ||||
Financing Receivable, Past Due [Line Items] | ||||
Carrying value of loans and leases sold | 0 | 365 | 1,712 | 365 |
Residential | Consumer & Other | ||||
Financing Receivable, Past Due [Line Items] | ||||
Carrying value of loans and leases sold | $ 0 | $ 0 | $ 63,799 | $ 0 |
Allowance for Credit Losses (Narrative) (Details) $ in Thousands |
3 Months Ended | 9 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2024 |
Mar. 31, 2023 |
Dec. 31, 2022 |
Mar. 31, 2022 |
Sep. 30, 2021
USD ($)
risk_code
|
Sep. 30, 2020
USD ($)
|
Sep. 30, 2021
USD ($)
risk_code
|
Sep. 30, 2020
USD ($)
|
Dec. 31, 2020
USD ($)
|
|
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||||||
Length of time projected by model | 10 years | ||||||||
Interest Income on Non-Accrual Loans and Leases | $ | $ 0 | $ 0 | $ 0 | $ 0 | |||||
Days Past Due on Leases and Equipment Finance | 181 days | ||||||||
Loans Deferred Under CARES Act | $ | 132,500 | $ 132,500 | $ 355,500 | ||||||
GNMA repurchased loans on deferral | $ | 121,000 | 121,000 | 177,700 | ||||||
Total troubled debt restructurings, net of deferred fees and costs | $ | $ 9,800 | $ 9,800 | $ 15,000 | ||||||
Minimum Collateral Value compared to Secured Loan (Percent) | 100.00% | 100.00% | |||||||
qualitative overlay adjustments | $ | $ 16,900 | $ 16,900 | |||||||
Commercial Real Estate | |||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||||||
qualitative overlay adjustments | $ | $ 13,800 | $ 13,800 | |||||||
Moody's Analytics' August consensus | |||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||||||
Real GDP Growth | 4.90% | ||||||||
Unemployment Rate | 5.50% | ||||||||
Moody's Analytics' August S2 | |||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||||||
Real GDP Growth | 3.50% | ||||||||
Unemployment Rate | 5.90% | ||||||||
Probability economy performs better than scenario | 75.00% | ||||||||
Probability economy performs worse than scenario | 25.00% | ||||||||
Non homogeneous | |||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||||||
Financing Receivable, Threshold Period Past Due | 90 days | 90 days | |||||||
Pass | Non homogeneous | Minimum | |||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||||||
Internal risk rating code (number) | 1 | 1 | |||||||
Pass | Non homogeneous | Maximum | |||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||||||
Internal risk rating code (number) | 9 | 9 | |||||||
Watch | Non homogeneous | Minimum | |||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||||||
Internal risk rating code (number) | 10 | 10 | |||||||
Watch | Non homogeneous | Maximum | |||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||||||
Internal risk rating code (number) | 11 | 11 | |||||||
Special mention | Non homogeneous | |||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||||||
Internal risk rating code (number) | 12 | 12 | |||||||
Substandard | Non homogeneous | Minimum | |||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||||||
Internal risk rating code (number) | 13 | 13 | |||||||
Substandard | Non homogeneous | Maximum | |||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||||||
Internal risk rating code (number) | 14 | 14 | |||||||
Doubtful | Non homogeneous | |||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||||||
Internal risk rating code (number) | 15 | 15 | |||||||
Loss | Non homogeneous | |||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||||||
Internal risk rating code (number) | 16 | 16 | |||||||
Loss | Non homogeneous | Maximum | |||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||||||
Internal risk rating code (number) | 16 | 16 | |||||||
Expected | Moody's Analytics' August consensus | |||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||||||
Unemployment Rate | 4.20% | ||||||||
Expected | Moody's Analytics' August S2 | |||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||||||
Unemployment Rate | 5.00% | ||||||||
Fed Funds Rate | 0.00% | ||||||||
Expected | Minimum | Moody's Analytics' August consensus | |||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||||||
Fed Funds Rate | 0.00% | ||||||||
Expected | Maximum | Moody's Analytics' August consensus | |||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||||||
Fed Funds Rate | 0.25% |
Allowance for Credit Losses (Allowance for Credit Losses Methodology) (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
Allowance for credit losses on loans and leases | ||||
Balance, beginning of period | $ 279,887 | $ 356,745 | $ 328,401 | $ 157,629 |
Provision for credit losses for loans and leases | (16,132) | 1,785 | (33,381) | 188,771 |
Charge-offs | (10,373) | (16,646) | (48,367) | (60,554) |
Recoveries | 4,178 | 3,165 | 10,907 | 9,204 |
Net (charge-offs) recoveries | (6,195) | (13,481) | (37,460) | (51,350) |
Balance, end of period | 257,560 | 345,049 | 257,560 | 345,049 |
Reserve for unfunded commitments | ||||
Balance, beginning of period | 14,539 | 26,368 | 20,286 | 5,106 |
Provision (recapture) for credit losses on unfunded commitments | (2,787) | (2,062) | (8,534) | 15,962 |
Balance, end of period | 11,752 | 24,306 | 11,752 | 24,306 |
Total allowance for credit losses | 269,312 | 369,355 | 269,312 | 369,355 |
Cumulative Effect, Period of Adoption, Adjustment | ||||
Allowance for credit losses on loans and leases | ||||
Balance, beginning of period | 49,999 | |||
Reserve for unfunded commitments | ||||
Balance, beginning of period | 3,238 | |||
Cumulative Effect, Period of Adoption, Adjusted Balance | ||||
Allowance for credit losses on loans and leases | ||||
Balance, beginning of period | 207,628 | |||
Reserve for unfunded commitments | ||||
Balance, beginning of period | 8,344 | |||
Commercial real estate | ||||
Allowance for credit losses on loans and leases | ||||
Balance, beginning of period | 128,951 | 152,828 | 141,710 | 50,847 |
Provision for credit losses for loans and leases | (20,141) | (18,834) | (33,199) | 77,664 |
Charge-offs | (916) | 0 | (1,086) | 0 |
Recoveries | 120 | 61 | 589 | 467 |
Net (charge-offs) recoveries | (796) | 61 | (497) | 467 |
Balance, end of period | 108,014 | 134,055 | 108,014 | 134,055 |
Reserve for unfunded commitments | ||||
Balance, beginning of period | 10,094 | 20,808 | 15,360 | 534 |
Provision (recapture) for credit losses on unfunded commitments | (3,273) | (380) | (8,539) | 15,864 |
Balance, end of period | 6,821 | 20,428 | 6,821 | 20,428 |
Total allowance for credit losses | 114,835 | 154,483 | 114,835 | 154,483 |
Commercial real estate | Cumulative Effect, Period of Adoption, Adjustment | ||||
Allowance for credit losses on loans and leases | ||||
Balance, beginning of period | 5,077 | |||
Reserve for unfunded commitments | ||||
Balance, beginning of period | 4,030 | |||
Commercial real estate | Cumulative Effect, Period of Adoption, Adjusted Balance | ||||
Allowance for credit losses on loans and leases | ||||
Balance, beginning of period | 55,924 | |||
Reserve for unfunded commitments | ||||
Balance, beginning of period | 4,564 | |||
Commercial | ||||
Allowance for credit losses on loans and leases | ||||
Balance, beginning of period | 121,390 | 152,615 | 150,864 | 73,820 |
Provision for credit losses for loans and leases | 2,719 | 25,603 | 4,180 | 96,577 |
Charge-offs | (8,521) | (15,426) | (44,228) | (55,583) |
Recoveries | 3,346 | 2,044 | 8,118 | 6,013 |
Net (charge-offs) recoveries | (5,175) | (13,382) | (36,110) | (49,570) |
Balance, end of period | 118,934 | 164,836 | 118,934 | 164,836 |
Reserve for unfunded commitments | ||||
Balance, beginning of period | 2,145 | 2,921 | 2,190 | 2,539 |
Provision (recapture) for credit losses on unfunded commitments | 440 | (1,198) | 395 | (329) |
Balance, end of period | 2,585 | 1,723 | 2,585 | 1,723 |
Total allowance for credit losses | 121,519 | 166,559 | 121,519 | 166,559 |
Commercial | Cumulative Effect, Period of Adoption, Adjustment | ||||
Allowance for credit losses on loans and leases | ||||
Balance, beginning of period | 44,009 | |||
Reserve for unfunded commitments | ||||
Balance, beginning of period | (487) | |||
Commercial | Cumulative Effect, Period of Adoption, Adjusted Balance | ||||
Allowance for credit losses on loans and leases | ||||
Balance, beginning of period | 117,829 | |||
Reserve for unfunded commitments | ||||
Balance, beginning of period | 2,052 | |||
Residential | ||||
Allowance for credit losses on loans and leases | ||||
Balance, beginning of period | 25,296 | 40,548 | 27,964 | 24,714 |
Provision for credit losses for loans and leases | 1,703 | (5,641) | (1,212) | 7,701 |
Charge-offs | 0 | (120) | (70) | (274) |
Recoveries | 281 | 407 | 598 | 954 |
Net (charge-offs) recoveries | 281 | 287 | 528 | 680 |
Balance, end of period | 27,280 | 35,194 | 27,280 | 35,194 |
Reserve for unfunded commitments | ||||
Balance, beginning of period | 1,710 | 2,061 | 1,661 | 149 |
Provision (recapture) for credit losses on unfunded commitments | 247 | (542) | 296 | 103 |
Balance, end of period | 1,957 | 1,519 | 1,957 | 1,519 |
Total allowance for credit losses | 29,237 | 36,713 | 29,237 | 36,713 |
Residential | Cumulative Effect, Period of Adoption, Adjustment | ||||
Allowance for credit losses on loans and leases | ||||
Balance, beginning of period | 2,099 | |||
Reserve for unfunded commitments | ||||
Balance, beginning of period | 1,267 | |||
Residential | Cumulative Effect, Period of Adoption, Adjusted Balance | ||||
Allowance for credit losses on loans and leases | ||||
Balance, beginning of period | 26,813 | |||
Reserve for unfunded commitments | ||||
Balance, beginning of period | 1,416 | |||
Consumer & Other | ||||
Allowance for credit losses on loans and leases | ||||
Balance, beginning of period | 4,250 | 10,754 | 7,863 | 8,248 |
Provision for credit losses for loans and leases | (413) | 657 | (3,150) | 6,829 |
Charge-offs | (936) | (1,100) | (2,983) | (4,697) |
Recoveries | 431 | 653 | 1,602 | 1,770 |
Net (charge-offs) recoveries | (505) | (447) | (1,381) | (2,927) |
Balance, end of period | 3,332 | 10,964 | 3,332 | 10,964 |
Reserve for unfunded commitments | ||||
Balance, beginning of period | 590 | 578 | 1,075 | 1,884 |
Provision (recapture) for credit losses on unfunded commitments | (201) | 58 | (686) | 324 |
Balance, end of period | 389 | 636 | 389 | 636 |
Total allowance for credit losses | $ 3,721 | $ 11,600 | $ 3,721 | 11,600 |
Consumer & Other | Cumulative Effect, Period of Adoption, Adjustment | ||||
Allowance for credit losses on loans and leases | ||||
Balance, beginning of period | (1,186) | |||
Reserve for unfunded commitments | ||||
Balance, beginning of period | (1,572) | |||
Consumer & Other | Cumulative Effect, Period of Adoption, Adjusted Balance | ||||
Allowance for credit losses on loans and leases | ||||
Balance, beginning of period | 7,062 | |||
Reserve for unfunded commitments | ||||
Balance, beginning of period | $ 312 |
Allowance for Credit Losses (Off Balance Sheet Credit Disclosure) (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Sep. 30, 2020 |
---|---|---|
Receivables [Abstract] | ||
Unfunded loan and lease commitments | $ 6,302,898 | $ 5,887,887 |
Allowance for Credit Losses (Non-Accrual Loans and Leases and Loans and Leases Past Due) (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
---|---|---|
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | $ 21,969,940 | $ 21,779,367 |
Non-Accrual | 24,152 | 31,076 |
Loans and leases (at fair value: $353,912 and $0) | 21,969,940 | 21,779,367 |
Allowance for credit loss on non-accrual loans | 7,300 | 16,700 |
Loans Deferred Under CARES Act | 132,500 | 355,500 |
Greater than 30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 24,349 | 24,791 |
60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 16,977 | 47,256 |
Greater than 90 Days and Accruing | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 27,490 | 36,361 |
Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 68,816 | 108,408 |
Current and Other | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 21,876,972 | 21,639,883 |
Commercial real estate | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 10,765,052 | 10,210,182 |
Commercial real estate | Non-owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 3,561,764 | 3,505,802 |
Non-Accrual | 3,417 | 3,809 |
Commercial real estate | Owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 2,330,338 | 2,333,945 |
Non-Accrual | 2,535 | 5,984 |
Commercial real estate | Multifamily, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 3,813,024 | 3,349,196 |
Non-Accrual | 0 | 0 |
Commercial real estate | Construction & development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 882,778 | 828,478 |
Non-Accrual | 0 | 0 |
Commercial real estate | Residential development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 177,148 | 192,761 |
Non-Accrual | 0 | 0 |
Commercial real estate | Greater than 30 to 59 Days Past Due | Non-owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1,750 | 1,214 |
Commercial real estate | Greater than 30 to 59 Days Past Due | Owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1,416 | 182 |
Commercial real estate | Greater than 30 to 59 Days Past Due | Multifamily, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 9,389 | 0 |
Commercial real estate | Greater than 30 to 59 Days Past Due | Construction & development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 3,991 |
Commercial real estate | Greater than 30 to 59 Days Past Due | Residential development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | 60 to 89 Days Past Due | Non-owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 21,309 |
Commercial real estate | 60 to 89 Days Past Due | Owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 343 | 103 |
Commercial real estate | 60 to 89 Days Past Due | Multifamily, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 215 |
Commercial real estate | 60 to 89 Days Past Due | Construction & development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | 60 to 89 Days Past Due | Residential development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | Greater than 90 Days and Accruing | Non-owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 815 |
Commercial real estate | Greater than 90 Days and Accruing | Owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1 | 208 |
Commercial real estate | Greater than 90 Days and Accruing | Multifamily, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | Greater than 90 Days and Accruing | Construction & development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | Greater than 90 Days and Accruing | Residential development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | Total Past Due | Non-owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1,750 | 23,338 |
Commercial real estate | Total Past Due | Owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1,760 | 493 |
Commercial real estate | Total Past Due | Multifamily, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 9,389 | 215 |
Commercial real estate | Total Past Due | Construction & development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 3,991 |
Commercial real estate | Total Past Due | Residential development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | Current and Other | Non-owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 3,556,597 | 3,478,655 |
Commercial real estate | Current and Other | Owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 2,326,043 | 2,327,468 |
Commercial real estate | Current and Other | Multifamily, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 3,803,635 | 3,348,981 |
Commercial real estate | Current and Other | Construction & development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 882,778 | 824,487 |
Commercial real estate | Current and Other | Residential development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 177,148 | 192,761 |
Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 5,547,064 | 6,343,857 |
Commercial | Term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 3,159,466 | 4,024,467 |
Non-Accrual | 5,511 | 2,205 |
Commercial | Lines of credit & other, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 930,350 | 862,760 |
Non-Accrual | 930 | 336 |
Commercial | Leases & equipment finance, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1,457,248 | 1,456,630 |
Non-Accrual | 11,759 | 18,742 |
Commercial | Greater than 30 to 59 Days Past Due | Term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 211 | 562 |
Commercial | Greater than 30 to 59 Days Past Due | Lines of credit & other, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 501 | 1,491 |
Commercial | Greater than 30 to 59 Days Past Due | Leases & equipment finance, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 8,502 | 14,242 |
Commercial | 60 to 89 Days Past Due | Term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 82 | 0 |
Commercial | 60 to 89 Days Past Due | Lines of credit & other, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 5,820 | 2,667 |
Commercial | 60 to 89 Days Past Due | Leases & equipment finance, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 7,347 | 18,220 |
Commercial | Greater than 90 Days and Accruing | Term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 2 | 4 |
Commercial | Greater than 90 Days and Accruing | Lines of credit & other, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 3 | 7 |
Commercial | Greater than 90 Days and Accruing | Leases & equipment finance, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 2,449 | 4,796 |
Commercial | Total Past Due | Term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 295 | 566 |
Commercial | Total Past Due | Lines of credit & other, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 6,324 | 4,165 |
Commercial | Total Past Due | Leases & equipment finance, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 18,298 | 37,258 |
Commercial | Current and Other | Term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 3,153,660 | 4,021,696 |
Commercial | Current and Other | Lines of credit & other, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 923,096 | 858,259 |
Commercial | Current and Other | Leases & equipment finance, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1,427,191 | 1,400,630 |
Residential | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 5,464,683 | 5,007,970 |
Residential | Mortgage, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 4,330,860 | 3,871,906 |
Non-Accrual | 0 | 0 |
Residential | Home equity loans & lines, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1,133,823 | 1,136,064 |
Non-Accrual | 0 | 0 |
Residential | Greater than 30 to 59 Days Past Due | Mortgage, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 943 | 1,587 |
Residential | Greater than 30 to 59 Days Past Due | Home equity loans & lines, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1,182 | 844 |
Residential | 60 to 89 Days Past Due | Mortgage, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 2,728 | 3,912 |
Residential | 60 to 89 Days Past Due | Home equity loans & lines, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 414 | 544 |
Residential | Greater than 90 Days and Accruing | Mortgage, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 23,957 | 27,713 |
Residential | Greater than 90 Days and Accruing | Home equity loans & lines, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 962 | 2,463 |
Residential | Total Past Due | Mortgage, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 27,628 | 33,212 |
Residential | Total Past Due | Home equity loans & lines, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 2,558 | 3,851 |
Residential | Current and Other | Mortgage, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 4,303,232 | 3,838,694 |
Residential | Current and Other | Home equity loans & lines, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1,131,265 | 1,132,213 |
Consumer & Other | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 193,141 | 217,358 |
Non-Accrual | 0 | 0 |
Consumer & Other | Greater than 30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 455 | 678 |
Consumer & Other | 60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 243 | 286 |
Consumer & Other | Greater than 90 Days and Accruing | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 116 | 355 |
Consumer & Other | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 814 | 1,319 |
Consumer & Other | Current and Other | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | $ 192,327 | $ 216,039 |
Allowance for Credit Losses (Collateral Dependent Loans and Leases) (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
---|---|---|
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | $ 21,969,940 | $ 21,779,367 |
Commercial real estate | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 10,765,052 | 10,210,182 |
Commercial real estate | Non-owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 3,561,764 | 3,505,802 |
Commercial real estate | Owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 2,330,338 | 2,333,945 |
Commercial | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 5,547,064 | 6,343,857 |
Commercial | Term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 3,159,466 | 4,024,467 |
Commercial | Lines of credit & other, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 930,350 | 862,760 |
Commercial | Leases & equipment finance, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,457,248 | 1,456,630 |
Residential | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 5,464,683 | 5,007,970 |
Residential | Mortgage, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 4,330,860 | 3,871,906 |
Residential | Home equity loans & lines, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,133,823 | $ 1,136,064 |
Residential Real Estate | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 32,281 | |
Residential Real Estate | Commercial real estate | Non-owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Residential Real Estate | Commercial real estate | Owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Residential Real Estate | Commercial | Term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,356 | |
Residential Real Estate | Commercial | Lines of credit & other, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Residential Real Estate | Commercial | Leases & equipment finance, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Residential Real Estate | Residential | Mortgage, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 27,988 | |
Residential Real Estate | Residential | Home equity loans & lines, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 2,937 | |
Commercial Real Estate | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 5,780 | |
Commercial Real Estate | Commercial real estate | Non-owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 3,121 | |
Commercial Real Estate | Commercial real estate | Owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 2,123 | |
Commercial Real Estate | Commercial | Term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 536 | |
Commercial Real Estate | Commercial | Lines of credit & other, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Commercial Real Estate | Commercial | Leases & equipment finance, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Commercial Real Estate | Residential | Mortgage, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Commercial Real Estate | Residential | Home equity loans & lines, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
General Business Assets | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 13,468 | |
General Business Assets | Commercial real estate | Non-owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
General Business Assets | Commercial real estate | Owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
General Business Assets | Commercial | Term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 779 | |
General Business Assets | Commercial | Lines of credit & other, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 930 | |
General Business Assets | Commercial | Leases & equipment finance, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 11,759 | |
General Business Assets | Residential | Mortgage, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
General Business Assets | Residential | Home equity loans & lines, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Other | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 2,455 | |
Other | Commercial real estate | Non-owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Other | Commercial real estate | Owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Other | Commercial | Term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 2,454 | |
Other | Commercial | Lines of credit & other, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1 | |
Other | Commercial | Leases & equipment finance, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Other | Residential | Mortgage, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Other | Residential | Home equity loans & lines, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Total | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 53,984 | |
Total | Commercial real estate | Non-owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 3,121 | |
Total | Commercial real estate | Owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 2,123 | |
Total | Commercial | Term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 5,125 | |
Total | Commercial | Lines of credit & other, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 931 | |
Total | Commercial | Leases & equipment finance, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 11,759 | |
Total | Residential | Mortgage, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 27,988 | |
Total | Residential | Home equity loans & lines, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | $ 2,937 |
Allowance for Credit Losses (Schedule Of Troubled Debt Restructuring) (Details) $ in Thousands |
3 Months Ended | 12 Months Ended |
---|---|---|
Sep. 30, 2021
USD ($)
contracts
|
Dec. 31, 2020
USD ($)
contracts
|
|
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Total troubled debt restructurings, net of deferred fees and costs | $ 9,800 | $ 15,000 |
Financing Receivable, Modifications, Number of Contracts | contracts | 53 | 83 |
Entity Loan Modification Program | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Total troubled debt restructurings, net of deferred fees and costs | $ 9,919 | $ 15,280 |
Entity Loan Modification Program | Accrual Status | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Total troubled debt restructurings, net of deferred fees and costs | 9,849 | 14,991 |
Entity Loan Modification Program | Non-Accrual Status | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Total troubled debt restructurings, net of deferred fees and costs | $ 70 | $ 289 |
Commercial real estate | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | contracts | 5 | 7 |
Commercial real estate | Entity Loan Modification Program | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Total troubled debt restructurings, net of deferred fees and costs | $ 1,131 | $ 1,634 |
Commercial real estate | Entity Loan Modification Program | Accrual Status | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Total troubled debt restructurings, net of deferred fees and costs | 1,061 | 1,345 |
Commercial real estate | Entity Loan Modification Program | Non-Accrual Status | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Total troubled debt restructurings, net of deferred fees and costs | $ 70 | $ 289 |
Commercial | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | contracts | 1 | |
Commercial | Entity Loan Modification Program | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Total troubled debt restructurings, net of deferred fees and costs | $ 1,231 | |
Commercial | Entity Loan Modification Program | Accrual Status | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Total troubled debt restructurings, net of deferred fees and costs | 1,231 | |
Commercial | Entity Loan Modification Program | Non-Accrual Status | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Total troubled debt restructurings, net of deferred fees and costs | $ 0 | |
Residential | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | contracts | 45 | 75 |
Residential | Entity Loan Modification Program | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Total troubled debt restructurings, net of deferred fees and costs | $ 8,762 | $ 12,415 |
Residential | Entity Loan Modification Program | Accrual Status | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Total troubled debt restructurings, net of deferred fees and costs | 8,762 | 12,415 |
Residential | Entity Loan Modification Program | Non-Accrual Status | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Total troubled debt restructurings, net of deferred fees and costs | $ 0 | $ 0 |
Consumer & Other | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | contracts | 3 | |
Consumer & Other | Entity Loan Modification Program | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Total troubled debt restructurings, net of deferred fees and costs | $ 26 | |
Consumer & Other | Entity Loan Modification Program | Accrual Status | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Total troubled debt restructurings, net of deferred fees and costs | 26 | |
Consumer & Other | Entity Loan Modification Program | Non-Accrual Status | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Total troubled debt restructurings, net of deferred fees and costs | $ 0 |
Allowance for Credit Losses (Schedule Of Newly Restructured Loans) (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | $ 1,661 | $ 7,029 | $ 5,939 | $ 22,045 |
Commercial | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 0 | 0 | 0 | 8,508 |
Residential | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 1,661 | 7,029 | 5,903 | 13,463 |
Consumer & Other | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | $ 0 | $ 0 | $ 36 | $ 74 |
Allowance for Credit Losses (Internal Risk Rating By Loan Class) (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
---|---|---|
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | $ 5,465,818 | $ 4,884,787 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 3,081,443 | 4,214,237 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 3,410,167 | 2,820,296 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2,039,304 | 2,242,023 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,584,686 | 1,507,249 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3,457,600 | 3,192,716 |
Financing Receivable, Revolving | 2,847,236 | 2,813,730 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 83,686 | 104,329 |
Financing Receivable, before Allowance for Credit Loss, Total | 21,969,940 | 21,779,367 |
Commercial real estate | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 2,186,695 | 1,352,526 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,435,839 | 2,263,351 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,103,357 | 1,760,179 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,354,358 | 1,442,334 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,076,713 | 931,620 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,421,247 | 2,247,779 |
Financing Receivable, Revolving | 169,550 | 201,033 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 17,293 | 11,360 |
Financing Receivable, before Allowance for Credit Loss, Total | 10,765,052 | 10,210,182 |
Commercial real estate | Non-owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 538,501 | 512,822 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 455,271 | 682,075 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 634,624 | 550,200 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 509,176 | 385,553 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 326,754 | 389,762 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,091,525 | 978,396 |
Financing Receivable, Revolving | 1,853 | 2,855 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 4,060 | 4,139 |
Financing Receivable, before Allowance for Credit Loss, Total | 3,561,764 | 3,505,802 |
Commercial real estate | Owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 376,203 | 290,996 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 255,040 | 424,782 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 399,112 | 344,911 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 295,938 | 354,817 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 291,352 | 265,750 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 706,758 | 644,379 |
Financing Receivable, Revolving | 5,187 | 6,552 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 748 | 1,758 |
Financing Receivable, before Allowance for Credit Loss, Total | 2,330,338 | 2,333,945 |
Commercial real estate | Multifamily, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,124,021 | 383,871 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 386,911 | 870,871 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 794,320 | 593,076 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 427,943 | 574,400 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 430,919 | 276,108 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 622,792 | 624,632 |
Financing Receivable, Revolving | 23,182 | 23,282 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 2,936 | 2,956 |
Financing Receivable, before Allowance for Credit Loss, Total | 3,813,024 | 3,349,196 |
Commercial real estate | Construction & development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 132,710 | 147,649 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 323,226 | 283,052 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 275,301 | 269,841 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 121,301 | 127,564 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 27,688 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 172 | 372 |
Financing Receivable, Revolving | 2,380 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 882,778 | 828,478 |
Commercial real estate | Residential development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 15,260 | 17,188 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 15,391 | 2,571 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 2,151 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 136,948 | 168,344 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 9,549 | 2,507 |
Financing Receivable, before Allowance for Credit Loss, Total | 177,148 | 192,761 |
Commercial real estate | Pass/Watch | Non-owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 526,979 | 496,412 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 452,318 | 677,975 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 626,217 | 489,350 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 451,713 | 379,691 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 323,746 | 338,257 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,017,904 | 932,207 |
Financing Receivable, Revolving | 1,853 | 2,855 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 4,060 | 4,139 |
Financing Receivable, before Allowance for Credit Loss, Total | 3,404,790 | 3,320,886 |
Commercial real estate | Pass/Watch | Owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 375,653 | 284,698 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 254,143 | 414,715 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 390,432 | 321,900 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 283,285 | 344,606 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 282,030 | 257,969 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 674,773 | 610,893 |
Financing Receivable, Revolving | 5,187 | 6,270 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 748 | 783 |
Financing Receivable, before Allowance for Credit Loss, Total | 2,266,251 | 2,241,834 |
Commercial real estate | Pass/Watch | Multifamily, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,124,021 | 383,871 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 386,911 | 870,871 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 794,320 | 593,076 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 427,943 | 574,185 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 421,530 | 276,108 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 621,542 | 618,031 |
Financing Receivable, Revolving | 23,182 | 23,282 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 2,936 | 2,956 |
Financing Receivable, before Allowance for Credit Loss, Total | 3,802,385 | 3,342,380 |
Commercial real estate | Pass/Watch | Construction & development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 132,710 | 146,012 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 321,591 | 283,052 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 275,301 | 255,449 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 105,270 | 127,564 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 27,688 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 172 | 372 |
Financing Receivable, Revolving | 2,380 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 865,112 | 812,449 |
Commercial real estate | Pass/Watch | Residential development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 15,260 | 17,188 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 15,391 | 2,571 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 2,151 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 136,948 | 163,320 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 9,549 | 2,507 |
Financing Receivable, before Allowance for Credit Loss, Total | 177,148 | 187,737 |
Commercial real estate | Special mention | Non-owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 10,693 | 13,281 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 933 | 1,432 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 5,791 | 40,899 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 36,676 | 2,800 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 31,699 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 48,995 | 27,167 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 103,088 | 117,278 |
Commercial real estate | Special mention | Owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 550 | 3,641 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 897 | 8,373 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 7,977 | 13,143 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 11,685 | 7,365 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 9,322 | 3,425 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 19,095 | 18,386 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 49,526 | 54,333 |
Commercial real estate | Special mention | Multifamily, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,250 | 6,601 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 1,250 | 6,601 |
Commercial real estate | Special mention | Construction & development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 1,637 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,635 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 14,392 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 7,600 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 9,235 | 16,029 |
Commercial real estate | Special mention | Residential development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 5,024 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 0 | 5,024 |
Commercial real estate | Substandard | Non-owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 829 | 3,129 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,020 | 2,668 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,616 | 19,951 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 20,787 | 3,062 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 3,008 | 19,806 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 24,296 | 18,586 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 53,556 | 67,202 |
Commercial real estate | Substandard | Owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 2,657 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 1,694 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 703 | 9,868 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 968 | 2,846 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 4,356 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 12,393 | 14,609 |
Financing Receivable, Revolving | 0 | 282 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 975 |
Financing Receivable, before Allowance for Credit Loss, Total | 14,064 | 37,287 |
Commercial real estate | Substandard | Multifamily, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 215 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 9,389 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 9,389 | 215 |
Commercial real estate | Substandard | Construction & development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 8,431 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 8,431 | 0 |
Commercial real estate | Substandard | Residential development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 0 | 0 |
Commercial real estate | Doubtful | Non-owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 86 | 103 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 86 | 103 |
Commercial real estate | Doubtful | Owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 67 | 61 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 67 | 61 |
Commercial real estate | Doubtful | Multifamily, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 0 | 0 |
Commercial real estate | Doubtful | Construction & development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 0 | 0 |
Commercial real estate | Doubtful | Residential development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 0 | 0 |
Commercial real estate | Loss | Non-owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 244 | 333 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 244 | 333 |
Commercial real estate | Loss | Owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 430 | 430 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 430 | 430 |
Commercial real estate | Loss | Multifamily, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 0 | 0 |
Commercial real estate | Loss | Construction & development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 0 | 0 |
Commercial real estate | Loss | Residential development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 0 | 0 |
Commercial | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,564,827 | 2,698,246 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 909,569 | 788,635 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 585,967 | 653,497 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 456,649 | 384,602 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 252,817 | 141,161 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 289,185 | 238,438 |
Financing Receivable, Revolving | 1,456,989 | 1,387,365 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 31,061 | 51,913 |
Financing Receivable, before Allowance for Credit Loss, Total | 5,547,064 | 6,343,857 |
Commercial | Term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,056,212 | 2,151,868 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 519,602 | 296,229 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 239,151 | 361,984 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 269,345 | 248,982 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 191,237 | 68,912 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 241,326 | 228,692 |
Financing Receivable, Revolving | 621,744 | 627,914 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 20,849 | 39,886 |
Financing Receivable, before Allowance for Credit Loss, Total | 3,159,466 | 4,024,467 |
Commercial | Lines of credit & other, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 34,319 | 32,037 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 12,242 | 27,867 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 16,996 | 26,731 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 17,749 | 744 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 357 | 2,133 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3,230 | 1,770 |
Financing Receivable, Revolving | 835,245 | 759,451 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 10,212 | 12,027 |
Financing Receivable, before Allowance for Credit Loss, Total | 930,350 | 862,760 |
Commercial | Leases & equipment finance, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 474,296 | 514,341 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 377,725 | 464,539 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 329,820 | 264,782 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 169,555 | 134,876 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 61,223 | 70,116 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 44,629 | 7,976 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 1,457,248 | 1,456,630 |
Commercial | Pass/Watch | Term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,024,743 | 2,146,758 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 511,451 | 294,576 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 237,257 | 323,744 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 238,367 | 240,458 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 186,079 | 67,502 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 238,496 | 226,137 |
Financing Receivable, Revolving | 594,949 | 626,878 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 15,062 | 29,598 |
Financing Receivable, before Allowance for Credit Loss, Total | 3,046,404 | 3,955,651 |
Commercial | Pass/Watch | Lines of credit & other, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 33,823 | 27,503 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 11,766 | 27,395 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 16,996 | 26,731 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 17,615 | 548 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 357 | 1,679 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,888 | 531 |
Financing Receivable, Revolving | 772,450 | 709,606 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 2,997 | 5,578 |
Financing Receivable, before Allowance for Credit Loss, Total | 857,892 | 799,571 |
Commercial | Pass/Watch | Leases & equipment finance, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 468,180 | 502,305 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 366,626 | 442,692 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 322,365 | 239,551 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 161,696 | 125,619 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 58,870 | 64,400 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 44,112 | 7,619 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 1,421,849 | 1,382,186 |
Commercial | Special mention | Term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 15,000 | 4,859 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 7,501 | 548 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 122 | 13,395 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 29,182 | 1,265 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 642 | 273 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,181 | 1,416 |
Financing Receivable, Revolving | 26,795 | 1,036 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 239 | 2,259 |
Financing Receivable, before Allowance for Credit Loss, Total | 80,662 | 25,051 |
Commercial | Special mention | Lines of credit & other, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 496 | 4,033 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 134 | 1 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 77 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 224 | 299 |
Financing Receivable, Revolving | 15,364 | 42,882 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 2,009 | 271 |
Financing Receivable, before Allowance for Credit Loss, Total | 18,227 | 47,563 |
Commercial | Special mention | Leases & equipment finance, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 2,193 | 2,321 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,980 | 4,918 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,349 | 7,765 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,869 | 3,797 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 706 | 1,983 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 170 | 99 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 9,267 | 20,883 |
Commercial | Substandard | Term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 16,469 | 251 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 650 | 1,105 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,772 | 24,845 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,379 | 7,259 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 3,647 | 1,137 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,648 | 561 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 5,548 | 8,029 |
Financing Receivable, before Allowance for Credit Loss, Total | 31,113 | 43,187 |
Commercial | Substandard | Lines of credit & other, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 501 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 476 | 472 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 195 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 377 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,118 | 940 |
Financing Receivable, Revolving | 47,428 | 6,958 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 5,205 | 6,177 |
Financing Receivable, before Allowance for Credit Loss, Total | 54,227 | 15,620 |
Commercial | Substandard | Leases & equipment finance, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,650 | 6,999 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 6,179 | 7,193 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,279 | 11,617 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4,380 | 1,945 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 741 | 2,081 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 263 | 157 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 15,492 | 29,992 |
Commercial | Doubtful | Term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 869 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1 | 578 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 870 | 578 |
Commercial | Doubtful | Lines of credit & other, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 2 | 4 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 2 | 4 |
Commercial | Doubtful | Leases & equipment finance, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 2,273 | 2,615 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,494 | 8,255 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,373 | 4,834 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,506 | 2,880 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 748 | 1,343 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 70 | 79 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 9,464 | 20,006 |
Commercial | Loss | Term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 417 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 417 | 0 |
Commercial | Loss | Lines of credit & other, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 1 | 1 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 1 | 1 |
Financing Receivable, before Allowance for Credit Loss, Total | 2 | 2 |
Commercial | Loss | Leases & equipment finance, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 101 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 446 | 1,481 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 454 | 1,015 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 104 | 635 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 158 | 309 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 14 | 22 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 1,176 | 3,563 |
Residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,700,680 | 809,607 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 723,585 | 1,139,329 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 706,158 | 395,169 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 221,676 | 410,890 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 250,392 | 431,856 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 741,231 | 702,385 |
Financing Receivable, Revolving | 1,088,418 | 1,080,651 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 32,543 | 38,083 |
Financing Receivable, before Allowance for Credit Loss, Total | 5,464,683 | 5,007,970 |
Residential | Mortgage, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,700,545 | 809,567 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 723,583 | 1,139,329 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 706,158 | 395,149 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 221,657 | 410,890 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 250,392 | 431,597 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 728,525 | 685,374 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 4,330,860 | 3,871,906 |
Residential | Home equity loans & lines, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 135 | 40 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 20 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 19 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 259 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 12,706 | 17,011 |
Financing Receivable, Revolving | 1,088,418 | 1,080,651 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 32,543 | 38,083 |
Financing Receivable, before Allowance for Credit Loss, Total | 1,133,823 | 1,136,064 |
Residential | Pass/Watch | Mortgage, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,700,114 | 809,232 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 722,986 | 1,136,220 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 702,425 | 393,041 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 220,512 | 406,069 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 246,799 | 424,270 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 710,397 | 669,862 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 4,303,233 | 3,838,694 |
Residential | Pass/Watch | Home equity loans & lines, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 135 | 40 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 20 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 19 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 259 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 12,476 | 16,575 |
Financing Receivable, Revolving | 1,086,719 | 1,077,753 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 31,913 | 37,008 |
Financing Receivable, before Allowance for Credit Loss, Total | 1,131,264 | 1,131,655 |
Residential | Special mention | Mortgage, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 397 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 780 | 286 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 81 | 688 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 488 | 946 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,321 | 3,183 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 3,670 | 5,500 |
Residential | Special mention | Home equity loans & lines, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 60 | 211 |
Financing Receivable, Revolving | 1,285 | 1,537 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 251 | 198 |
Financing Receivable, before Allowance for Credit Loss, Total | 1,596 | 1,946 |
Residential | Substandard | Mortgage, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 431 | 335 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 597 | 1,398 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,046 | 1,822 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,064 | 4,133 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 3,105 | 6,381 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 15,070 | 11,113 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 22,313 | 25,182 |
Residential | Substandard | Home equity loans & lines, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 134 | 43 |
Financing Receivable, Revolving | 321 | 254 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 152 | 233 |
Financing Receivable, before Allowance for Credit Loss, Total | 607 | 530 |
Residential | Doubtful | Mortgage, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 0 | 0 |
Residential | Doubtful | Home equity loans & lines, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 0 | 0 |
Residential | Loss | Mortgage, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 1,314 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 907 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 737 | 1,216 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 1,644 | 2,530 |
Residential | Loss | Home equity loans & lines, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 36 | 182 |
Financing Receivable, Revolving | 93 | 1,107 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 227 | 644 |
Financing Receivable, before Allowance for Credit Loss, Total | 356 | 1,933 |
Consumer & Other | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 13,616 | 24,408 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 12,450 | 22,922 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 14,685 | 11,451 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 6,621 | 4,197 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 4,764 | 2,612 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 5,937 | 4,114 |
Financing Receivable, Revolving | 132,279 | 144,681 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 2,789 | 2,973 |
Financing Receivable, before Allowance for Credit Loss, Total | 193,141 | 217,358 |
Consumer & Other | Pass/Watch | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 13,616 | 24,408 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 12,411 | 22,802 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 14,605 | 11,372 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 6,621 | 4,170 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 4,589 | 2,582 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 5,729 | 4,101 |
Financing Receivable, Revolving | 132,063 | 143,813 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 2,692 | 2,789 |
Financing Receivable, before Allowance for Credit Loss, Total | 192,326 | 216,037 |
Consumer & Other | Special mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 39 | 95 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 58 | 79 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 27 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 175 | 28 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 186 | 3 |
Financing Receivable, Revolving | 203 | 660 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 38 | 74 |
Financing Receivable, before Allowance for Credit Loss, Total | 699 | 966 |
Consumer & Other | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 25 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 22 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 2 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 15 | 0 |
Financing Receivable, Revolving | 10 | 205 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 59 | 110 |
Financing Receivable, before Allowance for Credit Loss, Total | 106 | 342 |
Consumer & Other | Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 0 | 0 |
Consumer & Other | Loss | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 7 | 10 |
Financing Receivable, Revolving | 3 | 3 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | $ 10 | $ 13 |
Residential Mortgage Servicing Rights (Schedule Of Changes In Mortgage Servicing Rights) (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
Servicing Asset at Fair Value, Amount [Roll Forward] | ||||
Balance, beginning of period | $ 102,699 | $ 96,356 | $ 92,907 | $ 115,010 |
Additions for new MSR capitalized | 8,450 | 14,014 | 30,845 | 37,484 |
Changes due to collection/realization of expected cash flows over time | (4,681) | (4,878) | (13,592) | (15,249) |
Changes due to valuation inputs or assumptions | (634) | (12,244) | (4,326) | (43,997) |
Balance, end of period | $ 105,834 | $ 93,248 | $ 105,834 | $ 93,248 |
Residential Mortgage Servicing Rights (Schedule Of Information Relates To Serviced Loan Portfolio) (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
---|---|---|
Transfers and Servicing [Abstract] | ||
Balance of loans serviced for others | $ 12,853,291 | $ 13,026,720 |
MSR as a percentage of serviced loans | 0.82% | 0.71% |
Residential Mortgage Servicing Rights (Narrative) (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
Transfers and Servicing [Abstract] | ||||
Servicing | $ 9,172 | $ 8,796 | $ 27,379 | $ 26,209 |
Commitments and Contingencies (Narrative) (Details) $ in Thousands |
1 Months Ended | 2 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
---|---|---|---|---|---|---|---|---|
Oct. 12, 2021
shares
|
Apr. 30, 2021
branches
|
Nov. 30, 2021
branches
|
Sep. 30, 2021
USD ($)
|
Sep. 30, 2020
USD ($)
|
Sep. 30, 2021
USD ($)
|
Sep. 30, 2020
USD ($)
|
Dec. 31, 2020 |
|
Commitments and Contingencies Disclosure [Abstract] | ||||||||
Financial guarantees in connection with standby letters of credit | $ 0 | $ 0 | $ 0 | $ 0 | ||||
Standby letters of credit expiring within one year | 113,400 | 113,400 | ||||||
Standby letters of credit expiring thereafter | 8,700 | 8,700 | ||||||
Residential mortgage loan repurchase reserve liability | $ 545 | $ 545 | ||||||
Concentration Risk [Line Items] | ||||||||
Number Of Stores Consolidated | branches | 12 | |||||||
Subsequent Event | ||||||||
Concentration Risk [Line Items] | ||||||||
Business Acquisition, Equity Interest Issued or Issuable, Share Exchange Ratio | shares | 0.5958 | |||||||
Subsequent Event | Umpqua Bank and Columbia Banking System Merger | ||||||||
Concentration Risk [Line Items] | ||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 62.00% | |||||||
Subsequent Event | Umpqua Bank and Columbia Banking System Merger | Columbia Banking System, Inc. | ||||||||
Concentration Risk [Line Items] | ||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 38.00% | |||||||
Expected | ||||||||
Concentration Risk [Line Items] | ||||||||
Number Of Stores Consolidated | branches | 15 | |||||||
Product Concentration Risk | Revenue Benchmark | Real Estate Loans As Part Of Loan Portfolio | ||||||||
Concentration Risk [Line Items] | ||||||||
Concentration risk (as a percent) | 75.00% | 71.00% |
Commitments and Contingencies (Schedule Of Commitments And Contingencies) (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
---|---|---|
Loss Contingencies [Line Items] | ||
Commitments and contingent liabilities | ||
Commitments to extend credit | ||
Loss Contingencies [Line Items] | ||
Commitments and contingent liabilities | 6,180,820 | |
Forward sales commitments | ||
Loss Contingencies [Line Items] | ||
Commitments and contingent liabilities | 555,170 | |
Commitments to originate residential mortgage loans held for sale | ||
Loss Contingencies [Line Items] | ||
Commitments and contingent liabilities | 432,659 | |
Standby letters of credit | ||
Loss Contingencies [Line Items] | ||
Commitments and contingent liabilities | $ 122,078 |
Derivatives (Narrative) (Details) $ in Thousands |
3 Months Ended | 9 Months Ended | |||
---|---|---|---|---|---|
Sep. 30, 2021
USD ($)
contracts
|
Sep. 30, 2020
USD ($)
|
Sep. 30, 2021
USD ($)
contracts
|
Sep. 30, 2020
USD ($)
|
Dec. 31, 2020
USD ($)
contracts
|
|
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||
Counterparty default losses on forward contracts | $ 0 | $ 0 | $ 0 | $ 0 | |
Credit Derivatives [Line Items] | |||||
Commitments | |||||
Termination value of derivatives in a net liability position | 8,900 | 8,900 | 370 | ||
Collateral required to be posted under agreements | 89,000 | 89,000 | 92,600 | ||
Variation Margin Adjustment | (198,700) | (198,700) | (330,500) | ||
Decrease in settlement values of net derivative assets | $ (9,700) | $ (9,700) | $ (18,500) | ||
Interest rate swaps | |||||
Credit Derivatives [Line Items] | |||||
Number of interest rate swaps | contracts | 914 | 914 | 886 | ||
Derivative, Notional Amount | $ 6,600,000 | $ 6,600,000 | $ 6,200,000 | ||
Commitments To Originate Loans Held For Sale | |||||
Credit Derivatives [Line Items] | |||||
Commitments | 432,659 | 432,659 | |||
Interest rate forward sales commitments | |||||
Credit Derivatives [Line Items] | |||||
Commitments | $ 555,170 | $ 555,170 |
Derivatives (Summary Of Types Of Derivatives, Separately By Assets And Liabilities And Fair Value Of Derivatives) (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
---|---|---|
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | $ 210,688 | $ 342,510 |
Derivative Liability | 9,661 | 8,782 |
Interest rate lock commitments | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 8,258 | 28,144 |
Interest rate forward sales commitments | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 3,367 | 7 |
Derivative Liability | 374 | 7,257 |
Interest rate swaps | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 198,607 | 313,090 |
Derivative Liability | 8,944 | 370 |
Interest rate contracts | Interest rate lock commitments | Other Assets | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 8,258 | 28,144 |
Interest rate contracts | Interest rate lock commitments | Other Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability | 0 | 0 |
Interest rate contracts | Interest rate forward sales commitments | Other Assets | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 3,367 | 7 |
Interest rate contracts | Interest rate forward sales commitments | Other Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability | 374 | 7,257 |
Interest rate contracts | Interest rate swaps | Other Assets | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 198,607 | 313,090 |
Interest rate contracts | Interest rate swaps | Other Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability | 8,944 | 370 |
Foreign currency derivatives | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 456 | 1,269 |
Derivative Liability | 343 | 1,155 |
Foreign currency derivatives | Other Assets | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 456 | 1,269 |
Foreign currency derivatives | Other Liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liability | $ 343 | $ 1,155 |
Derivatives (Summary Of Types Of Derivatives And Gains (Losses) Recorded) (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Derivative Gain (Losses) | $ (5,355) | $ (5,997) | $ 6,133 | $ (41,965) |
Foreign currency derivatives | Other Income | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Derivative Gain (Losses) | 718 | 585 | 1,985 | 1,567 |
Interest rate lock commitments | Interest rate contracts | Interest rate commitments | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Derivative Gain (Losses) | (4,952) | 3,303 | (19,886) | 21,784 |
Interest rate forward sales commitments | Interest rate contracts | Interest rate commitments | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Derivative Gain (Losses) | (2,550) | (11,650) | 15,336 | (51,952) |
Interest rate swaps | Interest rate contracts | Other Income | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Derivative Gain (Losses) | $ 1,429 | $ 1,765 | $ 8,698 | $ (13,364) |
Earnings (Loss) Per Common Share (Computation Of Basic And Diluted Earnings Per Common Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands |
3 Months Ended | 9 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2021 |
Jun. 30, 2021 |
Mar. 31, 2021 |
Dec. 31, 2020 |
Sep. 30, 2020 |
Jun. 30, 2020 |
Mar. 31, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
Earnings Per Share [Abstract] | |||||||||
Net income (loss) | $ 108,066 | $ 116,143 | $ 107,737 | $ 150,730 | $ 124,871 | $ 52,926 | $ (1,851,947) | $ 331,946 | $ (1,674,150) |
Weighted average number of common shares outstanding - basic (in shares) | 218,416 | 220,221 | 219,791 | 220,216 | |||||
Effect of potentially dilutive common shares (in shares) | 562 | 197 | 487 | 0 | |||||
Weighted average number of shares outstanding, diluted (in shares) | 218,978 | 220,418 | 220,278 | 220,216 | |||||
Earnings (loss) per common share: | |||||||||
Basic (in dollars per share) | $ 0.49 | $ 0.57 | $ 1.51 | $ (7.60) | |||||
Diluted (in dollars per share) | $ 0.49 | $ 0.57 | $ 1.51 | $ (7.60) |
Earnings (Loss) Per Common Share (Schedule Of Weighted Average Outstanding Securities Not Included In The Computation Of Diluted Earnings Per Common Share) (Details) - shares shares in Thousands |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
Earnings Per Share [Abstract] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 763 | 73 | 1,164 |
Segment Information (Narrative) (Details) |
9 Months Ended |
---|---|
Sep. 30, 2021
segment
| |
Segment Reporting [Abstract] | |
Number of primary segments | 2 |
Segment Information (Summary Of Financial Information By Reportable Segment) (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|---|
Sep. 30, 2021 |
Jun. 30, 2021 |
Mar. 31, 2021 |
Dec. 31, 2020 |
Sep. 30, 2020 |
Jun. 30, 2020 |
Mar. 31, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
Segment Reporting Information [Line Items] | |||||||||
Net interest income | $ 235,074 | $ 216,574 | $ 686,268 | $ 647,612 | |||||
(Recapture) provision for credit losses | (18,919) | (338) | (41,915) | 204,832 | |||||
Origination and sale | 30,293 | 98,703 | 134,165 | 224,831 | |||||
Servicing | 9,172 | 8,796 | 27,379 | 26,209 | |||||
Changes due to collection/realization of expected cash flows over time | (4,681) | (4,878) | (13,592) | (15,249) | |||||
Changes due to valuation inputs or assumptions | (634) | (12,244) | (4,326) | (43,997) | |||||
Gain on sale of debt securities, net | 0 | 0 | 4 | 190 | |||||
(Loss) gain on equity securities, net | (343) | (112) | (1,045) | 942 | |||||
Gain (loss) on swap derivatives, net | 1,429 | 1,765 | 8,698 | (13,364) | |||||
Non-interest income (excluding above items) | 38,469 | 39,894 | 122,297 | 108,487 | |||||
Noninterest Income | 73,705 | 131,924 | 273,580 | 288,049 | |||||
Goodwill impairment | 0 | 0 | 0 | 1,784,936 | |||||
Exit and disposal costs | 3,813 | 792 | 9,741 | 1,864 | |||||
Non-interest expense (excluding above items) | 179,940 | 189,415 | 551,004 | 547,975 | |||||
Allocated expenses, net | 0 | 0 | 0 | 0 | |||||
Total non-interest expense | 183,753 | 190,207 | 560,745 | 2,334,775 | |||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 143,945 | 158,629 | 441,018 | (1,603,946) | |||||
Provision for income taxes | 35,879 | 33,758 | 109,072 | 70,204 | |||||
Net income (loss) | 108,066 | $ 116,143 | $ 107,737 | $ 150,730 | 124,871 | $ 52,926 | $ (1,851,947) | 331,946 | (1,674,150) |
Total assets | 30,891,479 | 29,235,175 | 30,891,479 | ||||||
Loans held for sale | 352,466 | 766,225 | 352,466 | ||||||
Total loans and leases | 21,969,940 | 21,779,367 | 21,969,940 | ||||||
Total deposits | 26,908,397 | 24,622,201 | 26,908,397 | ||||||
Core Banking | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Net interest income | 232,348 | 212,215 | 676,837 | 636,566 | |||||
(Recapture) provision for credit losses | (18,919) | (338) | (41,915) | 204,832 | |||||
Origination and sale | 0 | 0 | 0 | 0 | |||||
Servicing | 0 | 0 | 0 | 0 | |||||
Changes due to collection/realization of expected cash flows over time | 0 | 0 | 0 | 0 | |||||
Changes due to valuation inputs or assumptions | 0 | 0 | 0 | 0 | |||||
Gain on sale of debt securities, net | 4 | 190 | |||||||
(Loss) gain on equity securities, net | (343) | (112) | (1,045) | 942 | |||||
Gain (loss) on swap derivatives, net | 1,429 | 1,765 | 8,698 | (13,364) | |||||
Non-interest income (excluding above items) | 38,281 | 39,678 | 121,617 | 107,963 | |||||
Noninterest Income | 39,367 | 41,331 | 129,274 | 95,731 | |||||
Goodwill impairment | 0 | 1,784,936 | |||||||
Exit and disposal costs | 3,813 | 792 | 9,741 | 1,864 | |||||
Non-interest expense (excluding above items) | 146,931 | 148,519 | 438,969 | 437,863 | |||||
Allocated expenses, net | 3,680 | (2,976) | 3,860 | (7,992) | |||||
Total non-interest expense | 154,424 | 146,335 | 452,570 | 2,216,671 | |||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 136,210 | 107,549 | 395,456 | (1,689,206) | |||||
Provision for income taxes | 33,945 | 20,988 | 97,681 | 48,889 | |||||
Net income (loss) | 102,265 | 86,561 | 297,775 | (1,738,095) | |||||
Total assets | 30,419,108 | 28,438,813 | 30,419,108 | ||||||
Loans held for sale | 0 | 78,146 | 0 | ||||||
Total loans and leases | 21,969,940 | 21,779,367 | 21,969,940 | ||||||
Total deposits | 26,510,938 | 24,200,012 | 26,510,938 | ||||||
Mortgage Banking | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Net interest income | 2,726 | 4,359 | 9,431 | 11,046 | |||||
(Recapture) provision for credit losses | 0 | 0 | 0 | 0 | |||||
Origination and sale | 30,293 | 98,703 | 134,165 | 224,831 | |||||
Servicing | 9,172 | 8,796 | 27,379 | 26,209 | |||||
Changes due to collection/realization of expected cash flows over time | (4,681) | (4,878) | (13,592) | (15,249) | |||||
Changes due to valuation inputs or assumptions | (634) | (12,244) | (4,326) | (43,997) | |||||
Gain on sale of debt securities, net | 0 | 0 | |||||||
(Loss) gain on equity securities, net | 0 | 0 | 0 | 0 | |||||
Gain (loss) on swap derivatives, net | 0 | 0 | 0 | 0 | |||||
Non-interest income (excluding above items) | 188 | 216 | 680 | 524 | |||||
Noninterest Income | 34,338 | 90,593 | 144,306 | 192,318 | |||||
Goodwill impairment | 0 | 0 | |||||||
Exit and disposal costs | 0 | 0 | 0 | 0 | |||||
Non-interest expense (excluding above items) | 33,009 | 40,896 | 112,035 | 110,112 | |||||
Allocated expenses, net | (3,680) | 2,976 | (3,860) | 7,992 | |||||
Total non-interest expense | 29,329 | 43,872 | 108,175 | 118,104 | |||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 7,735 | 51,080 | 45,562 | 85,260 | |||||
Provision for income taxes | 1,934 | 12,770 | 11,391 | 21,315 | |||||
Net income (loss) | 5,801 | $ 38,310 | 34,171 | $ 63,945 | |||||
Total assets | 472,371 | 796,362 | 472,371 | ||||||
Loans held for sale | 352,466 | 688,079 | 352,466 | ||||||
Total loans and leases | 0 | 0 | 0 | ||||||
Total deposits | $ 397,459 | $ 422,189 | $ 397,459 |
Fair Value Measurement (Schedule Of Carrying Value And Fair Value Of Financial Instruments Not Recorded At Fair Value) (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Jun. 30, 2021 |
Dec. 31, 2020 |
Sep. 30, 2020 |
Jun. 30, 2020 |
Dec. 31, 2019 |
---|---|---|---|---|---|---|
Financial assets: | ||||||
Equity and other investment securities | $ 81,575 | $ 83,077 | ||||
Investment securities available for sale | 3,723,171 | 2,932,558 | ||||
Investment securities held to maturity | 2,795 | 3,034 | ||||
Loans held for sale | 352,466 | 688,079 | ||||
Loans and leases, net | 21,712,380 | 21,450,966 | ||||
Restricted equity securities | 10,946 | 41,666 | ||||
Residential mortgage servicing rights | 105,834 | $ 102,699 | 92,907 | $ 93,248 | $ 96,356 | $ 115,010 |
Bank owned life insurance | 325,646 | 323,470 | ||||
Derivatives | 210,688 | 342,510 | ||||
Financial liabilities: | ||||||
Deposits | 26,908,397 | 24,622,201 | ||||
Securities sold under agreements to repurchase | 467,760 | 375,384 | ||||
Borrowings | 6,367 | 771,482 | ||||
Junior subordinated debentures, at fair value | 299,508 | 255,217 | ||||
Junior subordinated debentures, at amortized cost | 88,098 | 88,268 | ||||
Derivatives | 9,661 | 8,782 | ||||
Carrying Value | ||||||
Financial assets: | ||||||
Cash and cash equivalents | 3,744,589 | 2,573,181 | ||||
Equity and other investment securities | 81,575 | 83,077 | ||||
Investment securities available for sale | 3,723,171 | 2,932,558 | ||||
Investment securities held to maturity | 2,795 | 3,034 | ||||
Loans held for sale | 352,466 | 766,225 | ||||
Loans and leases, net | 21,712,380 | 21,450,966 | ||||
Restricted equity securities | 10,946 | 41,666 | ||||
Residential mortgage servicing rights | 105,834 | 92,907 | ||||
Bank owned life insurance | 325,646 | 323,470 | ||||
Derivatives | 210,688 | 342,510 | ||||
Financial liabilities: | ||||||
Deposits | 26,908,397 | 24,622,201 | ||||
Securities sold under agreements to repurchase | 467,760 | 375,384 | ||||
Borrowings | 6,367 | 771,482 | ||||
Junior subordinated debentures, at fair value | 299,508 | 255,217 | ||||
Junior subordinated debentures, at amortized cost | 88,098 | 88,268 | ||||
Derivatives | 9,661 | 8,782 | ||||
Fair Value | ||||||
Financial assets: | ||||||
Cash and cash equivalents | 3,744,589 | 2,573,181 | ||||
Equity and other investment securities | 81,575 | 83,077 | ||||
Investment securities available for sale | 3,723,171 | 2,932,558 | ||||
Investment securities held to maturity | 3,581 | 3,883 | ||||
Loans held for sale | 352,466 | 766,225 | ||||
Loans and leases, net | 21,853,775 | 21,904,189 | ||||
Restricted equity securities | 10,946 | 41,666 | ||||
Residential mortgage servicing rights | 105,834 | 92,907 | ||||
Bank owned life insurance | 325,646 | 323,470 | ||||
Derivatives | 210,688 | 342,510 | ||||
Financial liabilities: | ||||||
Deposits | 26,911,910 | 24,641,876 | ||||
Securities sold under agreements to repurchase | 467,760 | 375,384 | ||||
Borrowings | 7,160 | 774,586 | ||||
Junior subordinated debentures, at fair value | 299,508 | 255,217 | ||||
Junior subordinated debentures, at amortized cost | 76,686 | 67,425 | ||||
Derivatives | $ 9,661 | $ 8,782 |
Fair Value Measurement (Schedule Of Fair Value Assets And Liabilities Measured On Recurring Basis) (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Jun. 30, 2021 |
Dec. 31, 2020 |
Sep. 30, 2020 |
Jun. 30, 2020 |
Dec. 31, 2019 |
---|---|---|---|---|---|---|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | $ 81,575 | $ 83,077 | ||||
Investment securities available for sale | 3,723,171 | 2,932,558 | ||||
Loans held for sale | 352,466 | 688,079 | ||||
Loans Receivable, Fair Value Disclosure | 353,912 | 0 | ||||
Residential mortgage servicing rights, at fair value | 105,834 | $ 102,699 | 92,907 | $ 93,248 | $ 96,356 | $ 115,010 |
Derivatives | 210,688 | 342,510 | ||||
Total assets measured at fair value | 4,827,646 | 4,139,131 | ||||
Junior subordinated debentures, at fair value | 299,508 | 255,217 | ||||
Derivatives | 9,661 | 8,782 | ||||
Total liabilities measured at fair value | 309,169 | 263,999 | ||||
Foreign currency derivatives | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivatives | 456 | 1,269 | ||||
Derivatives | 343 | 1,155 | ||||
Investments in mutual funds and other securities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | 69,157 | 70,203 | ||||
Equity securities held in rabbi trusts | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | 12,418 | 12,814 | ||||
Other investment securities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | 60 | |||||
U.S. Treasury and agencies | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 838,977 | 762,202 | ||||
Obligations of states and political subdivisions | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 283,409 | 279,511 | ||||
Residential mortgage-backed securities and collateralized mortgage obligations | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 2,600,785 | 1,890,845 | ||||
Interest rate lock commitments | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivatives | 8,258 | 28,144 | ||||
Interest rate forward sales commitments | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivatives | 3,367 | 7 | ||||
Derivatives | 374 | 7,257 | ||||
Interest rate swaps | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivatives | 198,607 | 313,090 | ||||
Derivatives | 8,944 | 370 | ||||
Level 1 | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Loans held for sale | 0 | 0 | ||||
Loans Receivable, Fair Value Disclosure | 0 | |||||
Residential mortgage servicing rights, at fair value | 0 | 0 | ||||
Total assets measured at fair value | 64,238 | 65,680 | ||||
Junior subordinated debentures, at fair value | 0 | 0 | ||||
Total liabilities measured at fair value | 0 | 0 | ||||
Level 1 | Foreign currency derivatives | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivatives | 0 | 0 | ||||
Derivatives | 0 | 0 | ||||
Level 1 | Investments in mutual funds and other securities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | 51,820 | 52,866 | ||||
Level 1 | Equity securities held in rabbi trusts | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | 12,418 | 12,814 | ||||
Level 1 | Other investment securities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | 0 | |||||
Level 1 | U.S. Treasury and agencies | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 0 | 0 | ||||
Level 1 | Obligations of states and political subdivisions | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 0 | 0 | ||||
Level 1 | Residential mortgage-backed securities and collateralized mortgage obligations | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 0 | 0 | ||||
Level 1 | Interest rate lock commitments | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivatives | 0 | 0 | ||||
Level 1 | Interest rate forward sales commitments | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivatives | 0 | 0 | ||||
Derivatives | 0 | 0 | ||||
Level 1 | Interest rate swaps | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivatives | 0 | 0 | ||||
Derivatives | 0 | 0 | ||||
Level 2 | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Loans held for sale | 352,466 | 688,079 | ||||
Loans Receivable, Fair Value Disclosure | 353,912 | |||||
Residential mortgage servicing rights, at fair value | 0 | 0 | ||||
Total assets measured at fair value | 4,649,316 | 3,952,400 | ||||
Junior subordinated debentures, at fair value | 0 | 0 | ||||
Total liabilities measured at fair value | 9,661 | 8,782 | ||||
Level 2 | Foreign currency derivatives | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivatives | 456 | 1,269 | ||||
Derivatives | 343 | 1,155 | ||||
Level 2 | Investments in mutual funds and other securities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | 17,337 | 17,337 | ||||
Level 2 | Equity securities held in rabbi trusts | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | 0 | 0 | ||||
Level 2 | Other investment securities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | 60 | |||||
Level 2 | U.S. Treasury and agencies | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 838,977 | 762,202 | ||||
Level 2 | Obligations of states and political subdivisions | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 283,409 | 279,511 | ||||
Level 2 | Residential mortgage-backed securities and collateralized mortgage obligations | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 2,600,785 | 1,890,845 | ||||
Level 2 | Interest rate lock commitments | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivatives | 0 | 0 | ||||
Level 2 | Interest rate forward sales commitments | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivatives | 3,367 | 7 | ||||
Derivatives | 374 | 7,257 | ||||
Level 2 | Interest rate swaps | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivatives | 198,607 | 313,090 | ||||
Derivatives | 8,944 | 370 | ||||
Level 3 | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Loans held for sale | 0 | 0 | ||||
Loans Receivable, Fair Value Disclosure | 0 | |||||
Residential mortgage servicing rights, at fair value | 105,834 | 92,907 | ||||
Total assets measured at fair value | 114,092 | 121,051 | ||||
Junior subordinated debentures, at fair value | 299,508 | 255,217 | ||||
Total liabilities measured at fair value | 299,508 | 255,217 | ||||
Level 3 | Foreign currency derivatives | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivatives | 0 | 0 | ||||
Derivatives | 0 | 0 | ||||
Level 3 | Investments in mutual funds and other securities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | 0 | 0 | ||||
Level 3 | Equity securities held in rabbi trusts | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | 0 | 0 | ||||
Level 3 | Other investment securities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | 0 | |||||
Level 3 | U.S. Treasury and agencies | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 0 | 0 | ||||
Level 3 | Obligations of states and political subdivisions | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 0 | 0 | ||||
Level 3 | Residential mortgage-backed securities and collateralized mortgage obligations | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 0 | 0 | ||||
Level 3 | Interest rate lock commitments | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivatives | 8,258 | 28,144 | ||||
Level 3 | Interest rate forward sales commitments | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivatives | 0 | 0 | ||||
Derivatives | 0 | 0 | ||||
Level 3 | Interest rate swaps | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivatives | 0 | 0 | ||||
Derivatives | $ 0 | $ 0 |
Fair Value Measurement (Narrative) (Details) - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
Fair Value Disclosures [Abstract] | ||||
Loans and leases, at fair value | $ 353,900 | $ 353,900 | ||
Unrealized (losses) gains arising during the period | (11,946) | $ (14,555) | (44,504) | $ 26,857 |
Changes in unrealized gains and losses on junior subordinated debentures carried at fair value, net of taxes | (8,874) | (10,811) | (33,058) | 19,950 |
Goodwill Impairment Adjustment | 1,800,000 | |||
Residential Mortgage Banking Revenue | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Net increase (decrease) in fair value | (4,500) | $ 2,200 | (13,500) | $ 16,500 |
Other Income | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Net increase (decrease) in fair value | $ 3,400 | $ 5,700 |
Fair Value Measurement (Schedule Of A Description Of The Valuation Technique, Unobservable Input, And Qualitative Information For The Company's Assets And Liabilities Classified As Level 3) (Details) $ in Thousands |
Sep. 30, 2021
USD ($)
|
Jun. 30, 2021
USD ($)
|
Dec. 31, 2020
USD ($)
|
Sep. 30, 2020
USD ($)
|
Jun. 30, 2020
USD ($)
|
Dec. 31, 2019
USD ($)
|
---|---|---|---|---|---|---|
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Residential mortgage servicing rights, at fair value | $ 105,834 | $ 102,699 | $ 92,907 | $ 93,248 | $ 96,356 | $ 115,010 |
Asset Derivatives | 210,688 | 342,510 | ||||
Junior subordinated debentures, at fair value | 299,508 | 255,217 | ||||
Residential mortgage servicing rights | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Residential mortgage servicing rights, at fair value | 105,834 | |||||
Interest rate lock commitments | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Asset Derivatives | 8,258 | 28,144 | ||||
Junior subordinated debentures | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Junior subordinated debentures, at fair value | 299,508 | |||||
Level 3 | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Residential mortgage servicing rights, at fair value | 105,834 | 92,907 | ||||
Junior subordinated debentures, at fair value | 299,508 | 255,217 | ||||
Level 3 | Interest rate lock commitments | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Asset Derivatives | $ 8,258 | $ 28,144 | ||||
Level 3 | Discounted cash flow | Residential mortgage servicing rights | Weighted Average | Constant prepayment rate | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Servicing asset, measurement input | 0.1621 | |||||
Level 3 | Discounted cash flow | Residential mortgage servicing rights | Weighted Average | Discount rate | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Servicing asset, measurement input | 0.0969 | |||||
Level 3 | Discounted cash flow | Residential mortgage servicing rights | Minimum | Constant prepayment rate | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Servicing asset, measurement input | 0.0820 | |||||
Level 3 | Discounted cash flow | Residential mortgage servicing rights | Minimum | Discount rate | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Servicing asset, measurement input | 0.0950 | |||||
Level 3 | Discounted cash flow | Residential mortgage servicing rights | Maximum | Constant prepayment rate | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Servicing asset, measurement input | 0.7217 | |||||
Level 3 | Discounted cash flow | Residential mortgage servicing rights | Maximum | Discount rate | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Servicing asset, measurement input | 0.1250 | |||||
Level 3 | Discounted cash flow | Junior subordinated debentures | Weighted Average | Credit spread | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Debt instrument, measurement input | 0.0346 | |||||
Level 3 | Discounted cash flow | Junior subordinated debentures | Minimum | Credit spread | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Debt instrument, measurement input | 0.0157 | |||||
Level 3 | Discounted cash flow | Junior subordinated debentures | Maximum | Credit spread | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Debt instrument, measurement input | 0.0442 | |||||
Level 3 | Internal pricing model | Interest rate lock commitments | Weighted Average | Pull-through rate | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Derivative asset, measurement input | 0.8803 | |||||
Level 3 | Internal pricing model | Interest rate lock commitments | Minimum | Pull-through rate | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Derivative asset, measurement input | 0.7000 | |||||
Level 3 | Internal pricing model | Interest rate lock commitments | Maximum | Pull-through rate | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Derivative asset, measurement input | 1.0000 |
Fair Value Measurement (Schedule Of Reconciliation Of Assets And Liabilities Measured At Fair Value Using Significant Unobservable Inputs (Level 3) On A Recurring Basis) (Details) - Level 3 - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
Junior subordinated debentures, at fair value | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Change in unrealized gains or losses for the period included in earnings for assets and liabilities held at end of period | $ 2,344 | $ 2,536 | $ 7,087 | $ 9,509 |
Change in unrealized gains or losses for the period included in other comprehensive income for assets and liabilities held at end of period | 11,946 | 14,555 | 44,504 | (26,857) |
Junior subordinated debentures, at fair value | ||||
Beginning Balance | 287,723 | 232,936 | 255,217 | 274,812 |
Change included in earnings | 2,344 | 2,536 | 7,087 | 9,509 |
Change in fair values included in comprehensive income/loss | 11,946 | 14,555 | 44,504 | (26,857) |
Purchases and issuances | 0 | 0 | 0 | 0 |
Sales and settlements | (2,505) | (2,982) | (7,300) | (10,419) |
Ending Balance | 299,508 | 247,045 | 299,508 | 247,045 |
Interest rate lock commitments | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Change in unrealized gains or losses for the period included in earnings for assets and liabilities held at end of period | 8,258 | 28,839 | 8,258 | 28,839 |
Change in unrealized gains or losses for the period included in other comprehensive income for assets and liabilities held at end of period | 0 | 0 | 0 | 0 |
Interest rate lock commitments, net | ||||
Beginning Balance | 13,210 | 25,537 | 28,144 | 7,056 |
Change included in earnings | 1,301 | 3,723 | 199 | 10,946 |
Change in fair values included in comprehensive income/loss | 0 | 0 | 0 | 0 |
Purchases and issuances | 16,007 | 55,854 | 67,730 | 130,862 |
Sales and settlements | (22,260) | (56,275) | (87,815) | (120,025) |
Ending Balance | 8,258 | 28,839 | 8,258 | 28,839 |
Residential mortgage servicing rights | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Change in unrealized gains or losses for the period included in earnings for assets and liabilities held at end of period | (634) | (12,244) | (4,326) | (43,997) |
Change in unrealized gains or losses for the period included in other comprehensive income for assets and liabilities held at end of period | 0 | 0 | 0 | 0 |
Residential mortgage servicing rights | ||||
Beginning balance | 102,699 | 96,356 | 92,907 | 115,010 |
Change included in earnings | (5,315) | (17,122) | (17,918) | (59,246) |
Change in fair values included in comprehensive income/loss | 0 | 0 | 0 | 0 |
Purchases and issuances | 8,450 | 14,014 | 30,845 | 37,484 |
Sales and settlements | 0 | 0 | 0 | 0 |
Ending balance | $ 105,834 | $ 93,248 | $ 105,834 | $ 93,248 |
Fair Value Measurement (Fair Value Assets And Liabilities Measured On Nonrecurring Basis) (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
---|---|---|
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | $ 4,827,646 | $ 4,139,131 |
Level 1 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 64,238 | 65,680 |
Level 2 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 4,649,316 | 3,952,400 |
Level 3 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 114,092 | 121,051 |
Fair Value, Nonrecurring | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 5,835 | 8,231 |
Fair Value, Nonrecurring | Level 1 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Nonrecurring | Level 2 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Nonrecurring | Level 3 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 5,835 | 8,231 |
Fair Value, Nonrecurring | Loans and leases | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 5,835 | 8,231 |
Fair Value, Nonrecurring | Loans and leases | Level 1 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Nonrecurring | Loans and leases | Level 2 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Nonrecurring | Loans and leases | Level 3 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | $ 5,835 | $ 8,231 |
Fair Value Measurement (Losses Resulting From Nonrecurring Fair Value Adjustments) (Details) - Fair Value, Nonrecurring - USD ($) $ in Thousands |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2021 |
Sep. 30, 2020 |
Sep. 30, 2021 |
Sep. 30, 2020 |
|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Losses resulting from nonrecurring fair value adjustments | $ 8,470 | $ 14,797 | $ 43,480 | $ 1,838,272 |
Loans and leases | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Losses resulting from nonrecurring fair value adjustments | 8,470 | 14,797 | 43,480 | 53,336 |
Goodwill (Wholesale Bank and Retail Bank) | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Losses resulting from nonrecurring fair value adjustments | $ 0 | $ 0 | $ 0 | $ 1,784,936 |
Fair Value Measurement (Fair Value Option) (Details) - USD ($) $ in Thousands |
Sep. 30, 2021 |
Dec. 31, 2020 |
---|---|---|
Fair Value Disclosures [Abstract] | ||
Fair Value | $ 352,466 | $ 688,079 |
Aggregate Unpaid Principal Balance | 340,670 | 654,555 |
Fair Value Less Aggregate Unpaid Principal Balance | 11,796 | 33,524 |
Loans and leases, at fair value | 353,912 | 0 |
Fair Value, Loans Held as Assets, Aggregate Unpaid Balance, Loans and Long-term Receivables | 340,664 | 0 |
Fair Value, Option, Loans Held as Assets, Aggregate Difference | $ 13,248 | $ 0 |
Income Taxes (Details) - USD ($) $ in Millions |
9 Months Ended | 12 Months Ended |
---|---|---|
Sep. 30, 2021 |
Dec. 31, 2020 |
|
Income Tax Contingency [Line Items] | ||
Deferred tax asset, net | $ 8.4 | |
Operating Loss Carryforwards | 1.3 | |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | $ 3.4 | |
Effective Income Tax Rate On Unrecognized Tax Benefits That Would Impact Effective Tax Rate | 0.56% | |
Effective Tax Rate as a Percentage of pre-tax Income (loss) | 24.70% | (4.40%) |
State and Local Jurisdiction [Member] | ||
Income Tax Contingency [Line Items] | ||
Deferred Tax Assets, Valuation Allowance | $ 1.1 |
Subsequent Event (Details) - USD ($) $ in Thousands |
Oct. 12, 2021 |
Sep. 30, 2021 |
Dec. 31, 2020 |
---|---|---|---|
Subsequent Event [Line Items] | |||
Total assets | $ 30,891,479 | $ 29,235,175 | |
Loans and leases, net | 21,712,380 | 21,450,966 | |
Available for sale, at fair value | 3,723,171 | 2,932,558 | |
Total deposits | 26,908,397 | 24,622,201 | |
Stockholders' Equity Attributable to Parent | 2,722,379 | $ 2,704,577 | |
Columbia Banking System, Inc. | Umpqua Bank and Columbia Banking System Merger | |||
Subsequent Event [Line Items] | |||
Total assets | 18,600,000 | ||
Loans and leases, net | 9,400,000 | ||
Available for sale, at fair value | 4,800,000 | ||
Total deposits | 16,000,000 | ||
Stockholders' Equity Attributable to Parent | $ 2,300,000 | ||
Subsequent Event | |||
Subsequent Event [Line Items] | |||
Business Acquisition, Equity Interest Issued or Issuable, Share Exchange Ratio | 0.5958 | ||
Termination Fee | $ 145,000 | ||
Subsequent Event | Umpqua Bank and Columbia Banking System Merger | |||
Subsequent Event [Line Items] | |||
Business Acquisition, Percentage of Voting Interests Acquired | 62.00% | ||
Subsequent Event | Columbia Banking System, Inc. | Umpqua Bank and Columbia Banking System Merger | |||
Subsequent Event [Line Items] | |||
Business Acquisition, Percentage of Voting Interests Acquired | 38.00% |
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