Loans Receivable (Tables)
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3 Months Ended |
Mar. 31, 2024 |
Receivables [Abstract] |
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Schedule of loans receivable |
The following table shows a summary of our loans receivable at amortized cost basis at March 31, 2024 and December 31, 2023 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2024 | | December 31, 2023 | | Originated (1) | | Acquired (2) | | Total | | Originated (1) | | Acquired (2) | | Total | Personal Banking: | | | | | | | | | | | | | | | | | | | | | | | | Residential mortgage loans (3) | $ | 3,243,079 | | | 139,769 | | | 3,382,848 | | | 3,283,299 | | | 144,886 | | | 3,428,185 | | Home equity loans | 1,079,671 | | | 116,936 | | | 1,196,607 | | | 1,103,410 | | | 124,448 | | | 1,227,858 | | Vehicle loans | 1,944,752 | | | 60,104 | | | 2,004,856 | | | 1,943,540 | | | 65,061 | | | 2,008,601 | | Consumer loans | 108,035 | | | 5,476 | | | 113,511 | | | 111,446 | | | 5,980 | | | 117,426 | | Total Personal Banking | 6,375,537 | | | 322,285 | | | 6,697,822 | | | 6,441,695 | | | 340,375 | | | 6,782,070 | | | | | | | | | | | | | | Commercial Banking: | | | | | | | | | | | | Commercial real estate loans (4) | 2,436,853 | | | 227,137 | | | 2,663,990 | | | 2,389,537 | | | 238,920 | | | 2,628,457 | | Commercial real estate loans - owner occupied | 338,744 | | | 25,794 | | | 364,538 | | | 319,195 | | | 26,358 | | | 345,553 | | Commercial loans | 1,743,656 | | | 31,240 | | | 1,774,896 | | | 1,623,481 | | | 35,248 | | | 1,658,729 | | Total Commercial Banking | 4,519,253 | | | 284,171 | | | 4,803,424 | | | 4,332,213 | | | 300,526 | | | 4,632,739 | | Total loans receivable, gross | 10,894,790 | | | 606,456 | | | 11,501,246 | | | 10,773,908 | | | 640,901 | | | 11,414,809 | | | | | | | | | | | | | | Allowance for credit losses | (118,837) | | | (6,060) | | | (124,897) | | | (118,079) | | | (7,164) | | | (125,243) | | Total loans receivable, net (5) | $ | 10,775,953 | | | 600,396 | | | 11,376,349 | | | 10,655,829 | | | 633,737 | | | 11,289,566 | |
(1) Includes originated and loan pools purchased in an asset acquisition. (2) Includes loans subject to purchase accounting in a business combination. (3) Includes $8 million and $9 million of loans held-for-sale at March 31, 2024 and December 31, 2023, respectively. (4) Includes $213,000 and $0 of loans held-for-sale at March 31, 2024 and December 31, 2023, respectively. (5) Includes $68 million of net unearned income, unamortized premiums and discounts and deferred fees and costs at March 31, 2024 and December 31, 2023.
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Schedule of the changes in the allowance for losses on loans receivable |
The following table provides information related to the allowance for credit losses by portfolio segment and by class of financing receivable for the quarter ended March 31, 2024 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Balance as of March 31, 2024 | | Current period provision | | Charge-offs | | Recoveries | | | | Balance as of December 31, 2023 | Allowance for Credit Losses | | | | | | | | | | | | Personal Banking: | | | | | | | | | | | | Residential mortgage loans | $ | 16,821 | | | (1,399) | | | (162) | | | 189 | | | | | 18,193 | | Home equity loans | 5,334 | | | 145 | | | (412) | | | 198 | | | | | 5,403 | | Vehicle loans | 21,061 | | | (3,694) | | | (2,588) | | | 432 | | | | | 26,911 | | Consumer loans | 1,452 | | | 1,849 | | | (1,985) | | | 389 | | | | | 1,199 | | Total Personal Banking | 44,668 | | | (3,099) | | | (5,147) | | | 1,208 | | | | | 51,706 | | | | | | | | | | | | | | Commercial Banking: | | | | | | | | | | | | Commercial real estate loans | 54,474 | | | 3,073 | | | (349) | | | 483 | | | | | 51,267 | | Commercial real estate loans - owner occupied | 4,055 | | | 272 | | | — | | | 8 | | | | | 3,775 | | Commercial loans | 21,700 | | | 3,988 | | | (1,163) | | | 380 | | | | | 18,495 | | Total Commercial Banking | 80,229 | | | 7,333 | | | (1,512) | | | 871 | | | | | 73,537 | | Total | $ | 124,897 | | | 4,234 | | | (6,659) | | | 2,079 | | | | | 125,243 | | | | | | | | | | | | | | Allowance for Credit Losses - off-balance sheet exposure | | | | | | | | | | | | Personal Banking: | | | | | | | | | | | | | | | | | | | | | | | | Residential mortgage loans | $ | 1 | | | (1) | | | — | | | — | | | | | 2 | | Home equity loans | 64 | | | (1) | | | — | | | — | | | | | 65 | | | | | | | | | | | | | | Total Personal Banking | 65 | | | (2) | | | — | | | — | | | | | 67 | | | | | | | | | | | | | | Commercial Banking: | | | | | | | | | | | | Commercial real estate loans | 6,218 | | | 71 | | | — | | | — | | | | | 6,147 | | Commercial real estate loans - owner occupied | 154 | | | (19) | | | — | | | — | | | | | 173 | | Commercial loans | 9,887 | | | (849) | | | — | | | — | | | | | 10,736 | | Total Commercial Banking | 16,259 | | | (797) | | | — | | | — | | | | | 17,056 | | Total off-balance sheet exposure | $ | 16,324 | | | (799) | | | — | | | — | | | | | 17,123 | | | | | | | | | | | | | | | | | | | | | | | | | |
The following table provides information related to the allowance for credit losses by portfolio segment and by class of financing receivable for the quarter ended March 31, 2023 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Balance as of March 31, 2023 | | Current period provision | | Charge-offs | | Recoveries | | ASU 2022-02 Adoption | | Balance as of December 31, 2022 | Allowance for Credit Losses | | | | | | | | | | | | Personal Banking: | | | | | | | | | | | | Residential mortgage loans | $ | 19,238 | | | (1) | | | (207) | | | 185 | | | — | | | 19,261 | | Home equity loans | 5,481 | | | (450) | | | (164) | | | 193 | | | — | | | 5,902 | | Vehicle loans | 26,166 | | | 4,253 | | | (1,668) | | | 522 | | | — | | | 23,059 | | Consumer loans | 732 | | | 796 | | | (1,066) | | | 337 | | | — | | | 665 | | Total Personal Banking | 51,617 | | | 4,598 | | | (3,105) | | | 1,237 | | | — | | | 48,887 | | | | | | | | | | | | | | Commercial Banking: | | | | | | | | | | | | Commercial real estate loans | 45,404 | | | 121 | | | (657) | | | 1,008 | | | 426 | | | 44,506 | | Commercial real estate loans - owner occupied | 3,351 | | | (674) | | | — | | | 21 | | | — | | | 4,004 | | Commercial loans | 20,885 | | | 825 | | | (865) | | | 286 | | | — | | | 20,639 | | Total Commercial Banking | 69,640 | | | 272 | | | (1,522) | | | 1,315 | | | 426 | | | 69,149 | | Total | $ | 121,257 | | | 4,870 | | | (4,627) | | | 2,552 | | | 426 | | | 118,036 | | | | | | | | | | | | | | Allowance for Credit Losses - off-balance sheet exposure | | | | | | | | | | | | Personal Banking: | | | | | | | | | | | | Residential mortgage loans | $ | 3 | | | (1) | | | — | | | — | | | — | | | 4 | | Home equity loans | 60 | | | (14) | | | — | | | — | | | — | | | 74 | | | | | | | | | | | | | | Total Personal Banking | 63 | | | (15) | | | — | | | — | | | — | | | 78 | | | | | | | | | | | | | | Commercial Banking: | | | | | | | | | | | | Commercial real estate loans | 5,924 | | | 549 | | | — | | | — | | | — | | | 5,375 | | Commercial real estate loans - owner occupied | 441 | | | 62 | | | — | | | — | | | — | | | 379 | | Commercial loans | 6,611 | | | (470) | | | — | | | — | | | — | | | 7,081 | | Total Commercial Banking | 12,976 | | | 141 | | | — | | | — | | | — | | | 12,835 | | Total off-balance sheet exposure | $ | 13,039 | | | 126 | | | — | | | — | | | — | | | 12,913 | |
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Schedule of loan portfolio by portfolio segment and by class of financing receivable |
The following table provides information related to the loan portfolio by portfolio segment and by class of financing receivable at March 31, 2024 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total loans receivable | | Allowance for credit losses | | Nonaccrual loans | | Loans 90 days past due and accruing | | | | | | Personal Banking: | | | | | | | | | | | | | Residential mortgage loans | $ | 3,382,848 | | | 16,821 | | | 7,109 | | | 1,509 | | | | | | | Home equity loans | 1,196,607 | | | 5,334 | | | 4,409 | | | 1 | | | | | | | Vehicle loans | 2,004,856 | | | 21,061 | | | 4,360 | | | 59 | | | | | | | Consumer loans | 113,511 | | | 1,452 | | | 269 | | | 627 | | | | | | | Total Personal Banking | 6,697,822 | | | 44,668 | | | 16,147 | | | 2,196 | | | | | | | | | | | | | | | | | | | | Commercial Banking: | | | | | | | | | | | | | Commercial real estate loans | 2,663,990 | | | 54,474 | | | 73,133 | | | — | | | | | | | Commercial real estate loans - owner occupied | 364,538 | | | 4,055 | | | 1,319 | | | — | | | | | | | Commercial loans | 1,774,896 | | | 21,700 | | | 4,461 | | | 256 | | | | | | | Total Commercial Banking | 4,803,424 | | | 80,229 | | | 78,913 | | | 256 | | | | | | | | | | | | | | | | | | | | Total | $ | 11,501,246 | | | 124,897 | | | 95,060 | | | 2,452 | | | | | | |
The following table provides information related to the loan portfolio by portfolio segment and by class of financing receivable at December 31, 2023 (in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total loans receivable | | Allowance for credit losses | | Nonaccrual loans | | Loans 90 days past due and accruing | | | | | | Personal Banking: | | | | | | | | | | | | | Residential mortgage loans | $ | 3,428,185 | | | 18,193 | | | 8,727 | | | 1,671 | | | | | | | Home equity loans | 1,227,858 | | | 5,403 | | | 4,492 | | | 26 | | | | | | | Vehicle loans | 2,008,601 | | | 26,911 | | | 4,816 | | | 44 | | | | | | | Consumer loans | 117,426 | | | 1,199 | | | 229 | | | 722 | | | | | | | Total Personal Banking | 6,782,070 | | | 51,706 | | | 18,264 | | | 2,463 | | | | | | | | | | | | | | | | | | | | Commercial Banking: | | | | | | | | | | | | | Commercial real estate loans | 2,628,457 | | | 51,267 | | | 71,297 | | | 225 | | | | | | | Commercial real estate loans - owner occupied | 345,553 | | | 3,775 | | | 676 | | | — | | | | | | | Commercial loans | 1,658,729 | | | 18,495 | | | 4,147 | | | 10 | | | | | | | Total Commercial Banking | 4,632,739 | | | 73,537 | | | 76,120 | | | 235 | | | | | | | | | | | | | | | | | | | | Total | $ | 11,414,809 | | | 125,243 | | | 94,384 | | | 2,698 | | | | | | |
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Schedule of the composition of nonaccrual loans by portfolio segment and by class of financing receivable |
The following table presents the amortized cost of our loans on nonaccrual status as of the beginning and end of the quarter ended March 31, 2024 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2024 | | | | Nonaccrual loans at January 1, 2024 | | Nonaccrual loans with an allowance | | Nonaccrual loans with no allowance | | Total nonaccrual loans at the end of the period | | Loans 90 days past due and accruing | | | Personal Banking: | | | | | | | | | | | | Residential mortgage loans | $ | 8,727 | | | 6,703 | | | 406 | | | 7,109 | | | 1,509 | | | | Home equity loans | 4,492 | | | 4,254 | | | 155 | | | 4,409 | | | 1 | | | | Vehicle loans | 4,816 | | | 3,481 | | | 879 | | | 4,360 | | | 59 | | | | Consumer loans | 229 | | | 269 | | | — | | | 269 | | | 627 | | | | Total Personal Banking | 18,264 | | | 14,707 | | | 1,440 | | | 16,147 | | | 2,196 | | | | | | | | | | | | | | | | Commercial Banking: | | | | | | | | | | | | Commercial real estate loans | 71,297 | | | 50,794 | | | 22,339 | | | 73,133 | | | — | | | | Commercial real estate loans - owner occupied | 676 | | | 1,319 | | | — | | | 1,319 | | | — | | | | Commercial loans | 4,147 | | | 4,305 | | | 156 | | | 4,461 | | | 256 | | | | Total Commercial Banking | 76,120 | | | 56,418 | | | 22,495 | | | 78,913 | | | 256 | | | | | | | | | | | | | | | | Total | $ | 94,384 | | | 71,125 | | | 23,935 | | | 95,060 | | | 2,452 | | | |
The following table presents the amortized cost of our loans on nonaccrual status as of the year ended December 31, 2023 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2023 | | | | Nonaccrual loans at January 1, 2023 | | Nonaccrual loans with an allowance | | Nonaccrual loans with no allowance | | Total nonaccrual loans at the end of the period | | Loans 90 days past due and accruing | | | Personal Banking: | | | | | | | | | | | | Residential mortgage loans | $ | 7,574 | | | 8,304 | | | 423 | | | 8,727 | | | 1,671 | | | | Home equity loans | 4,145 | | | 4,084 | | | 408 | | | 4,492 | | | 26 | | | | Vehicle loans | 3,771 | | | 4,187 | | | 629 | | | 4,816 | | | 44 | | | | Consumer loans | 256 | | | 229 | | | — | | | 229 | | | 722 | | | | Total Personal Banking | 15,746 | | | 16,804 | | | 1,460 | | | 18,264 | | | 2,463 | | | | | | | | | | | | | | | | Commercial Banking: | | | | | | | | | | | | Commercial real estate loans | 62,239 | | | 47,359 | | | 23,938 | | | 71,297 | | | 225 | | | | Commercial real estate loans - owner occupied | 624 | | | 676 | | | — | | | 676 | | | — | | | | Commercial loans | 2,627 | | | 3,996 | | | 151 | | | 4,147 | | | 10 | | | | Total Commercial Banking | 65,490 | | | 52,031 | | | 24,089 | | | 76,120 | | | 235 | | | | | | | | | | | | | | | | Total | $ | 81,236 | | | 68,835 | | | 25,549 | | | 94,384 | | | 2,698 | | | |
The following table presents the amortized cost basis of collateral-dependent loans by class of loans and collateral type as of as of March 31, 2024 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | Real estate | | Equipment | | | | Total | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Commercial Banking: | | | | | | | | | | Commercial real estate loans | $ | 66,587 | | | 1,256 | | | | 67,843 | | | | | | | | | | | | | Commercial loans | 146 | | — | | | | | 146 | | | Total Commercial Banking | 66,733 | | 1,256 | | | | 67,989 | | | | | | | | | | | | | Total | $ | 66,733 | | | 1,256 | | | | 67,989 | | |
The following table presents the amortized cost basis of collateral-dependent loans by class of loans as of December 31, 2023 (in thousands): | | | | | | | | | | | | | | | | | | | Real estate | | | | | | Total | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Commercial Banking: | | | | | | | | | | Commercial real estate loans | $ | 66,934 | | | | | | | 66,934 | | | | | | | | | | | | | | Commercial loans | 150 | | | | | | | 150 | | | | Total Commercial Banking | 67,084 | | | | | | | 67,084 | | | | | | | | | | | | | | Total | $ | 67,084 | | | | | | | 67,084 | | | |
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Schedule of troubled debt restructurings (including re-modified TDRs) by portfolio segment and by class of financing receivable |
The following table presents the amortized cost basis of loans for the periods indicated that were both experiencing financial difficulty and modified during the respective period, by class and by type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financial receivable is also presented below (dollars in thousands).
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the quarter ended March 31, | | | 2024 | | | | | | 2023 | | | Payment delay | | Term extension | | | | | | Combination term extension and interest rate reduction | | Total class of financing receivable | | | | | | Term extension | | | | | | Combination term extension and interest rate reduction | | Total class of financing receivable | Personal Banking: | | | | | | | | | | | | | | | | | | | | | | | | | | | Residential mortgage loans | | $ | 364 | | | 490 | | | | | | | — | | | 0.03 | % | | | | | | 180 | | | | | | | — | | | 0.01 | % | Home equity loans | | — | | | 552 | | | | | | | 84 | | | 0.05 | % | | | | | | 110 | | | | | | | — | | | 0.01 | % | | | | | | | | | | | | | | | | | | | | | | | | | | | | Consumer loans | | — | | | — | | | | | | | 2 | | | — | % | | | | | | — | | | | | | | 3 | | | — | % | Total Personal Banking | | 364 | | | 1,042 | | | | | | | 86 | | | 0.02 | % | | | | | | 290 | | | | | | | 3 | | | — | % | | | | | | | | | | | | | | | | | | | | | | | | | | | | Commercial Banking: | | | | | | | | | | | | | | | | | | | | | | | | | | | Commercial real estate loans | | 28,877 | | | 243 | | | | | | | — | | | 1.09 | % | | | | | | 242 | | | | | | | — | | | 0.01 | % | | | | | | | | | | | | | | | | | | | | | | | | | | | | Commercial loans | | — | | | 56 | | | | | | | 10 | | | — | % | | | | | | 765 | | | | | | | — | | | 0.06 | % | Total Commercial Banking | | 28,877 | | | 299 | | | | | | | 10 | | | 0.61 | % | | | | | | 1,007 | | | | | | | — | | | 0.02 | % | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total | | $ | 29,241 | | | 1,341 | | | | | | | 96 | | | 0.27 | % | | | | | | 1,297 | | | | | | | 3 | | | 0.01 | % |
The following table presents the effect of the loan modifications presented above to borrowers experiencing financial difficulty for the periods indicated: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the quarter ended March 31, | | | | | | | | | | | | | | | | | | | | | | | | 2024 | | 2023 | | | | | | | | | | | | | | | | | | | | | | | | Weighted-average interest rate reduction | | Weighted-average term extension in months | | Weighted-average payment deferral in years | | Weighted-average interest rate reduction | | Weighted-average term extension in months | | | | | | | | | | | | | | | | | | | | | Personal Banking: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Residential mortgage loans | | | — | % | | 143 | | 0.50 | | — | % | | 147 | | | | | | | | | | | | | | | | | | | | | Home equity loans | | | 2 | % | | 97 | | — | | | — | % | | 115 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Consumer loans | | | 12 | % | | 356 | | — | | | 12 | % | | 356 | | | | | | | | | | | | | | | | | | | | | Total Personal Banking | | | 3 | % | | 118 | | 0.50 | | 12 | % | | 137 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Commercial Banking: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Commercial real estate loans | | | — | % | | 106 | | 1.00 | | — | % | | 24 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Commercial loans | | | 4 | % | | 118 | | — | | | — | % | | 9 | | | | | | | | | | | | | | | | | | | | | Total Commercial Banking | | | 4 | % | | 108 | | 1.00 | | — | % | | 13 | | | | | | | | | | | | | | | | | | | | | Total loans | | | 3 | % | | 116 | | 1.00 | | 12 | % | | 41 | | | | | | | | | | | | | | | | | | | | |
The following table presents the performance of loans modified within the previous twelve months of March 31, 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Current | | 30-59 days delinquent | | 60-89 days delinquent | | 90 days or greater delinquent | Personal Banking: | | | | | | | | | | | | Residential mortgage loans | | | | | $ | 406 | | | 84 | | | — | | | 364 | | Home equity loans | | | | | 616 | | | 3 | | | — | | | 17 | | | | | | | | | | | | | | Consumer loans | | | | | 2 | | | — | | | — | | | — | | Total Personal Banking | | | | | 1,024 | | | 87 | | | — | | | 381 | | | | | | | | | | | | | | Commercial Banking: | | | | | | | | | | | | Commercial real estate loans | | | | | 29,121 | | | — | | | — | | | — | | | | | | | | | | | | | | Commercial loans | | | | | 10 | | | 9 | | | 47 | | | — | | Total Commercial Banking | | | | | 29,131 | | | 9 | | | 47 | | | — | | Total loans | | | | | $ | 30,155 | | | 96 | | | 47 | | | 381 | |
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Schedule of loans with payment default and modified |
The following table provides the amortized cost basis of financing receivables that had a payment default during the period ended March 31, 2024 and were modified within the previous twelve months to borrowers experiencing financial difficulty (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | Term extension | | Payment delay | | | | | | | | Personal Banking: | | | | | | | | | | | | | | | Residential mortgage loans | | | | | $ | — | | | $ | 364 | | | | | | | | | Home equity loans | | | | | 17 | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total Personal Banking | | | | | 17 | | | 364 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total | | | | | $ | 17 | | | $ | 364 | | | | | | | | |
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Schedule of loan delinquencies |
The following table provides information related to the amortized cost basis of loan payment delinquencies at March 31, 2024 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 30-59 days delinquent | | 60-89 days delinquent | | 90 days or greater delinquent | | Total delinquency | | Current | | Total loans receivable | | 90 days or greater delinquent and accruing | | | | | | | | | | | | | | | Personal Banking: | | | | | | | | | | | | | | Residential mortgage loans | $ | 38,502 | | | 70 | | | 5,813 | | | 44,385 | | | 3,338,463 | | | 3,382,848 | | | 1,509 | | Home equity loans | 4,608 | | | 761 | | | 2,823 | | | 8,192 | | | 1,188,415 | | | 1,196,607 | | | 1 | | Vehicle loans | 9,177 | | | 2,246 | | | 2,496 | | | 13,919 | | | 1,990,937 | | | 2,004,856 | | | 59 | | Consumer loans | 734 | | | 299 | | | 849 | | | 1,882 | | | 111,629 | | | 113,511 | | | 627 | | Total Personal Banking | 53,021 | | | 3,376 | | | 11,981 | | | 68,378 | | | 6,629,444 | | | 6,697,822 | | | 2,196 | | | | | | | | | | | | | | | | Commercial Banking: | | | | | | | | | | | | | | Commercial real estate loans | 6,181 | | | 807 | | | 6,041 | | | 13,029 | | | 2,650,961 | | | 2,663,990 | | | — | | Commercial real estate loans - owner occupied | 215 | | | — | | | 890 | | | 1,105 | | | 363,433 | | | 364,538 | | | — | | Commercial loans | 3,091 | | | 1,284 | | | 3,421 | | | 7,796 | | | 1,767,100 | | | 1,774,896 | | | 256 | | Total Commercial Banking | 9,487 | | | 2,091 | | | 10,352 | | | 21,930 | | | 4,781,494 | | | 4,803,424 | | | 256 | | Total loans | $ | 62,508 | | | 5,467 | | | 22,333 | | | 90,308 | | | 11,410,938 | | | 11,501,246 | | | 2,452 | |
The following table provides information related to the amortized cost basis of loan payment delinquencies at December 31, 2023 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 30-59 days delinquent | | 60-89 days delinquent | | 90 days or greater delinquent | | Total delinquency | | Current | | Total loans receivable | | 90 days or greater delinquent and accruing | | | | | | | | | | | | | | | Personal Banking: | | | | | | | | | | | | | | Residential mortgage loans | $ | 30,041 | | | 7,796 | | | 7,995 | | | 45,832 | | | 3,382,353 | | | 3,428,185 | | | 1,671 | | Home equity loans | 5,761 | | | 982 | | | 3,126 | | | 9,869 | | | 1,217,989 | | | 1,227,858 | | | 26 | | Vehicle loans | 10,382 | | | 3,326 | | | 3,051 | | | 16,759 | | | 1,991,842 | | | 2,008,601 | | | 44 | | Consumer loans | 829 | | | 428 | | | 927 | | | 2,184 | | | 115,242 | | | 117,426 | | | 722 | | Total Personal Banking | 47,013 | | | 12,532 | | | 15,099 | | | 74,644 | | | 6,707,426 | | | 6,782,070 | | | 2,463 | | | | | | | | | | | | | | | | Commercial Banking: | | | | | | | | | | | | | | Commercial real estate loans | 2,010 | | | 1,031 | | | 6,535 | | | 9,576 | | | 2,618,881 | | | 2,628,457 | | | 225 | | Commercial real estate loans - owner occupied | 1,194 | | | — | | | 177 | | | 1,371 | | | 344,182 | | | 345,553 | | | — | | Commercial loans | 4,196 | | | 703 | | | 2,780 | | | 7,679 | | | 1,651,050 | | | 1,658,729 | | | 10 | | Total Commercial Banking | 7,400 | | | 1,734 | | | 9,492 | | | 18,626 | | | 4,614,113 | | | 4,632,739 | | | 235 | | Total originated loans | $ | 54,413 | | | 14,266 | | | 24,591 | | | 93,270 | | | 11,321,539 | | | 11,414,809 | | | 2,698 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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Schedule of credit quality indicators |
The following table presents the amortized cost basis of our loan portfolio by year of origination and credit quality indicator and the current period charge-offs by year of origination for each portfolio segment as of March 31, 2024 (in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | YTD March 31, 2024 | | 2023 | | 2022 | | 2021 | | 2020 | | Prior | | Revolving loans | | Revolving loans converted to term loans | | Total loans receivable | Personal Banking: | | | | | | | | | | | | | | | | | | Residential mortgage loans | | | | | | | | | | | | | | | | | | Pass | $ | 7,577 | | | 192,489 | | | 660,443 | | | 782,217 | | | 496,755 | | | 1,230,826 | | | — | | | — | | | 3,370,307 | | Substandard | — | | | 89 | | | 2,551 | | | 357 | | | 1,208 | | | 8,336 | | | — | | | — | | | 12,541 | | Total residential mortgage loans | 7,577 | | | 192,578 | | | 662,994 | | | 782,574 | | | 497,963 | | | 1,239,162 | | | — | | | — | | | 3,382,848 | | Residential mortgage current period charge-offs | — | | | — | | | — | | | — | | | (113) | | | (49) | | | — | | | — | | | (162) | | Home equity loans | | | | | | | | | | | | | | | | | | Pass | 5,488 | | | 67,059 | | | 97,697 | | | 101,645 | | | 140,326 | | | 276,751 | | | 460,391 | | | 42,600 | | | 1,191,957 | | Substandard | — | | | — | | | 98 | | | 54 | | | 197 | | | 2,027 | | | 1,086 | | | 1,188 | | | 4,650 | | Total home equity loans | 5,488 | | | 67,059 | | | 97,795 | | | 101,699 | | | 140,523 | | | 278,778 | | | 461,477 | | | 43,788 | | | 1,196,607 | | Home equity current period charge-offs | — | | | — | | | (35) | | | (2) | | | — | | | (154) | | | (189) | | | (32) | | | (412) | | Vehicle loans | | | | | | | | | | | | | | | | | | Pass | 196,998 | | | 615,730 | | | 618,045 | | | 351,286 | | | 113,020 | | | 105,357 | | | — | | | — | | | 2,000,436 | | Substandard | — | | | 753 | | | 1,310 | | | 1,274 | | | 257 | | | 826 | | | — | | | — | | | 4,420 | | Total vehicle loans | 196,998 | | | 616,483 | | | 619,355 | | | 352,560 | | | 113,277 | | | 106,183 | | | — | | | — | | | 2,004,856 | | Vehicle current period charge-offs | — | | | (715) | | | (664) | | | (748) | | | (117) | | | (344) | | | — | | | — | | | (2,588) | | Consumer loans | | | | | | | | | | | | | | | | | | Pass | 7,204 | | | 21,506 | | | 10,028 | | | 4,627 | | | 1,667 | | | 5,099 | | | 61,766 | | | 717 | | | 112,614 | | Substandard | — | | | 51 | | | 63 | | | 9 | | | — | | | 51 | | | 622 | | | 101 | | | 897 | | Total consumer loans | 7,204 | | | 21,557 | | | 10,091 | | | 4,636 | | | 1,667 | | | 5,150 | | | 62,388 | | | 818 | | | 113,511 | | Consumer loan current period charge-offs | (13) | | | (1,263) | | | (139) | | | (83) | | | (13) | | | (247) | | | (206) | | | (21) | | | (1,985) | | Total Personal Banking | 217,267 | | | 897,677 | | | 1,390,235 | | | 1,241,469 | | | 753,430 | | | 1,629,273 | | | 523,865 | | | 44,606 | | | 6,697,822 | | Commercial Banking: | | | | | | | | | | | | | | | | | | Commercial real estate loans | | | | | | | | | | | | | | | | | | Pass | 62,822 | | | 232,766 | | | 496,664 | | | 303,781 | | | 319,596 | | | 931,515 | | | 28,002 | | | 24,423 | | | 2,399,569 | | Special mention | — | | | 2,831 | | | 24,683 | | | 27,294 | | | 7,111 | | | 28,946 | | | 733 | | | — | | | 91,598 | | Substandard | 1,256 | | | 1,909 | | | 2,779 | | | 29,626 | | | 19,575 | | | 117,501 | | | 78 | | | 99 | | | 172,823 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total commercial real estate loans | 64,078 | | | 237,506 | | | 524,126 | | | 360,701 | | | 346,282 | | | 1,077,962 | | | 28,813 | | | 24,522 | | | 2,663,990 | | Commercial real estate current period charge-offs | — | | | — | | | (44) | | | — | | | — | | | (305) | | | — | | | — | | | (349) | | Commercial real estate loans - owner occupied | | | | | | | | | | | | | | | | | | Pass | 22,976 | | | 12,903 | | | 51,065 | | | 47,955 | | | 13,886 | | | 163,028 | | | 2,171 | | | 1,304 | | | 315,288 | | Special mention | — | | | 13,365 | | | 2,381 | | | 1,210 | | | 1,728 | | | 20,965 | | | — | | | — | | | 39,649 | | Substandard | — | | | — | | | — | | | 111 | | | 1,647 | | | 6,145 | | | — | | | 1,698 | | | 9,601 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total commercial real estate loans - owner occupied | 22,976 | | | 26,268 | | | 53,446 | | | 49,276 | | | 17,261 | | | 190,138 | | | 2,171 | | | 3,002 | | | 364,538 | | Commercial real estate - owner occupied current period charge-offs | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | | — | | Commercial loans | | | | | | | | | | | | | | | | | | Pass | 203,185 | | | 424,258 | | | 402,658 | | | 67,493 | | | 24,976 | | | 79,847 | | | 492,660 | | | 3,442 | | | 1,698,519 | | Special mention | 8,019 | | | 31,014 | | | 3,860 | | | 4 | | | 298 | | | 217 | | | 9,045 | | | 4 | | | 52,461 | | Substandard | — | | | 8,050 | | | 3,954 | | | 886 | | | 222 | | | 3,162 | | | 3,884 | | | 3,758 | | | 23,916 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total commercial loans | 211,204 | | | 463,322 | | | 410,472 | | | 68,383 | | | 25,496 | | | 83,226 | | | 505,589 | | | 7,204 | | | 1,774,896 | | Commercial loans current period charge-offs | — | | | (47) | | | (734) | | | (75) | | | (175) | | | (132) | | | — | | | — | | | (1,163) | | Total Commercial Banking | 298,258 | | | 727,096 | | | 988,044 | | | 478,360 | | | 389,039 | | | 1,351,326 | | | 536,573 | | | 34,728 | | | 4,803,424 | | | | | | | | | | | | | | | | | | | | Total loans | $ | 515,525 | | | 1,624,773 | | | 2,378,279 | | | 1,719,829 | | | 1,142,469 | | | 2,980,599 | | | 1,060,438 | | | 79,334 | | | 11,501,246 | |
The following table presents the amortized cost basis of our loan portfolio by year of origination and credit quality indicator for each portfolio segment as of December 31, 2023 (in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2023 | | 2022 | | 2021 | | 2020 | | 2019 | | Prior | | Revolving loans | | Revolving loans converted to term loans | | Total loans receivable | | Personal Banking: | | | | | | | | | | | | | | | | | | | Residential mortgage loans | | | | | | | | | | | | | | | | | | | Pass | $ | 186,081 | | | 665,379 | | | 792,488 | | | 506,068 | | | 244,678 | | | 1,019,152 | | | — | | | — | | | 3,413,846 | | | Substandard | — | | | 1,581 | | | — | | | 1,252 | | | 311 | | | 11,195 | | | — | | | — | | | 14,339 | | | Total residential mortgage loans | 186,081 | | | 666,960 | | | 792,488 | | | 507,320 | | | 244,989 | | | 1,030,347 | | | — | | | — | | | 3,428,185 | | | Residential mortgage current period charge-offs | — | | | (9) | | | (5) | | | (130) | | | (23) | | | (1,023) | | | — | | | — | | | (1,189) | | | Home equity loans | | | | | | | | | | | | | | | | | | | Pass | 71,497 | | | 100,639 | | | 106,043 | | | 146,121 | | | 94,144 | | | 197,259 | | | 463,868 | | | 43,526 | | | 1,223,097 | | | Substandard | — | | | 236 | | | 54 | | | 197 | | | 35 | | | 1,733 | | | 1,447 | | | 1,059 | | | 4,761 | | | Total home equity loans | 71,497 | | | 100,875 | | | 106,097 | | | 146,318 | | | 94,179 | | | 198,992 | | | 465,315 | | | 44,585 | | | 1,227,858 | | | Home equity current period charge-offs | — | | | (53) | | | (46) | | | — | | | (48) | | | (352) | | | (144) | | | (209) | | | (852) | | | Vehicle loans | | | | | | | | | | | | | | | | | | | Pass | 664,876 | | | 682,275 | | | 397,809 | | | 132,775 | | | 67,853 | | | 58,153 | | | — | | | — | | | 2,003,741 | | | Substandard | 646 | | | 1,418 | | | 1,453 | | | 299 | | | 556 | | | 488 | | | — | | | — | | | 4,860 | | | Total vehicle loans | 665,522 | | | 683,693 | | | 399,262 | | | 133,074 | | | 68,409 | | | 58,641 | | | — | | | — | | | 2,008,601 | | | Vehicle current period charge-offs | (678) | | | (1,844) | | | (1,967) | | | (475) | | | (652) | | | (853) | | | — | | | — | | | (6,468) | | | Consumer loans | | | | | | | | | | | | | | | | | | | Pass | 24,277 | | | 11,582 | | | 5,552 | | | 2,072 | | | 1,355 | | | 6,603 | | | 64,214 | | | 820 | | | 116,475 | | | Substandard | 55 | | | 43 | | | 19 | | | 6 | | | 6 | | | 46 | | | 726 | | | 50 | | | 951 | | | Total consumer loans | 24,332 | | | 11,625 | | | 5,571 | | | 2,078 | | | 1,361 | | | 6,649 | | | 64,940 | | | 870 | | | 117,426 | | | Consumer loan current period charge-offs | (3,412) | | | (511) | | | (390) | | | (157) | | | (177) | | | (980) | | | (317) | | | (38) | | | (5,983) | | | Total Personal Banking | 947,432 | | | 1,463,153 | | | 1,303,418 | | | 788,790 | | | 408,938 | | | 1,294,629 | | | 530,255 | | | 45,455 | | | 6,782,070 | | | Commercial Banking: | | | | | | | | | | | | | | | | | | | Commercial real estate loans | | | | | | | | | | | | | | | | | | | Pass | 223,335 | | | 470,762 | | | 303,873 | | | 332,620 | | | 228,382 | | | 745,244 | | | 27,583 | | | 24,804 | | | 2,356,603 | | | Special Mention | 2,819 | | | 24,735 | | | 27,871 | | | 5,365 | | | 4,053 | | | 38,665 | | | 711 | | | — | | | 104,219 | | | Substandard | 1,920 | | | 750 | | | 26,850 | | | 18,167 | | | 37,044 | | | 82,717 | | | 79 | | | 108 | | | 167,635 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total commercial real estate loans | 228,074 | | | 496,247 | | | 358,594 | | | 356,152 | | | 269,479 | | | 866,626 | | | 28,373 | | | 24,912 | | | 2,628,457 | | | Commercial real estate current period charge-offs | (14) | | | — | | | (492) | | | — | | | (51) | | | (1,741) | | | — | | | — | | | (2,298) | | | Commercial real estate loans - owner occupied | | | | | | | | | | | | | | | | | | | Pass | 24,725 | | | 51,986 | | | 47,655 | | | 15,984 | | | 28,614 | | | 140,175 | | | 2,378 | | | 2,390 | | | 313,907 | | | Special Mention | 1,221 | | | 120 | | | 1,218 | | | — | | | 14,386 | | | 2,952 | | | — | | | — | | | 19,897 | | | Substandard | — | | | — | | | 118 | | | 1,666 | | | 4,646 | | | 4,641 | | | — | | | 678 | | | 11,749 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total commercial real estate loans - owner occupied | 25,946 | | | 52,106 | | | 48,991 | | | 17,650 | | | 47,646 | | | 147,768 | | | 2,378 | | | 3,068 | | | 345,553 | | | Commercial real estate - owner occupied current period charge-offs | — | | | — | | | — | | | — | | | — | | | (68) | | | — | | | — | | | (68) | | | Commercial loans | | | | | | | | | | | | | | | | | | | Pass | 482,605 | | | 430,378 | | | 73,469 | | | 26,868 | | | 34,090 | | | 54,617 | | | 531,742 | | | 4,110 | | | 1,637,879 | | | Special Mention | 508 | | | 3,671 | | | 52 | | | 299 | | | 240 | | | 26 | | | 1,882 | | | — | | | 6,678 | | | Substandard | — | | | 3,015 | | | 872 | | | 356 | | | 2,361 | | | 840 | | | 4,729 | | | 1,999 | | | 14,172 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Total commercial loans | 483,113 | | | 437,064 | | | 74,393 | | | 27,523 | | | 36,691 | | | 55,483 | | | 538,353 | | | 6,109 | | | 1,658,729 | | | Commercial loans current period charge-offs | (35) | | | (2,072) | | | (517) | | | (430) | | | (205) | | | (845) | | | (60) | | | (2) | | | (4,166) | | | Total Commercial Banking | 737,133 | | | 985,417 | | | 481,978 | | | 401,325 | | | 353,816 | | | 1,069,877 | | | 569,104 | | | 34,089 | | | 4,632,739 | | | | | | | | | | | | | | | | | | | | | | Total loans | $ | 1,684,565 | | | 2,448,570 | | | 1,785,396 | | | 1,190,115 | | | 762,754 | | | 2,364,506 | | | 1,099,359 | | | 79,544 | | | 11,414,809 | | |
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