Loans and the Allowance for Credit Losses

3 Months Ended

Mar. 31, 2024

Loans and the Allowance for Credit Losses

NOTE 4. LOANS AND THE ALLOWANCE FOR CREDIT LOSSES

The recorded investment in loans is presented in the Consolidated Balance Sheets net of deferred loan fees and costs, and discounts on purchased loans. Net deferred loan costs were $11.8 million and $11.5 million at March 31, 2024 and December 31, 2023, respectively. The unaccreted discount on purchased loans from acquisitions was $12.7 million at March 31, 2024 and $13.5 million at December 31, 2023.


	March 31,		December 31,
(unaudited, in thousands)	2024		2023
Commercial real estate:
Land and construction	$	1,087,649	$	1,055,865
Improved property		5,667,284		5,509,583
Total commercial real estate		6,754,933		6,565,448
Commercial and industrial		1,683,172		1,670,659
Residential real estate		2,469,357		2,438,574
Home equity		740,973		734,219
Consumer		224,732		229,561
Total portfolio loans		11,873,167		11,638,461
Loans held for sale		12,472		16,354
Total loans	$	11,885,639	$	11,654,815

Allowance for Credit Losses

The allowance for credit losses under the current expected credit losses methodology ("CECL") is calculated utilizing the probability of default ("PD")/ loss given default ("LGD"), which is then discounted to net present value. PD is the probability the asset will default within a given time frame and LGD is the percentage of the asset not expected to be collected due to default. The primary macroeconomic drivers of the quantitative model include forecasts of national unemployment and interest rates, as well as modeling adjustments for changes in prepayment speeds, loan risk grades, portfolio mix, concentrations and loan growth. At March 31, 2024, the primary drivers of the allowance model calculation were loan growth, macroeconomic variables, prepayment speeds, qualitative factors for distressed industries, the current rate environment and changes in risk grading. The forecast was based upon a probability weighted approach which is designed to incorporate loss projections from a baseline, upside and downside economy. Due to the nonlinearity of credit losses to the economy, the asymmetry is best captured by evaluating multiple economic scenarios through a probability weighted approach. At quarter-end, national unemployment was projected to be 4.3%, and subsequently increase to an average of 4.7% over the remainder of the forecast period. In addition to the quantitative and qualitative changes noted above, the allowance is reflective of $5.9 million in net charge-offs recorded during the first quarter of 2024. Accrued interest receivable for loans was $63.2 million and $62.2 million at March 31, 2024 and December 31, 2023, respectively. Wesbanco made an accounting policy election to exclude accrued interest from the measurement of the allowance for credit losses because the Company has a policy in place to reverse or write-off accrued interest when loans are placed on non-accrual. However, Wesbanco does have a $0.1 million reserve on the accrued interest related to loan modifications allowed under the Coronavirus Aid, Relief and Economic Security ("CARES") Act due to the timing and nature of these modifications. Accrued interest related to COVID-19 loan modifications as permitted under the CARES Act was $15.1 million and $15.6 million at March 31, 2024 and December 31, 2023, respectively.

The following tables summarize changes in the allowance for credit losses applicable to each category of the loan portfolio:


	Allowance for Credit Losses By Category
	For the Three Months Ended March 31, 2024 and 2023
(unaudited, in thousands)	Commercial Real Estate - Land and Construction			Commercial Real Estate- Improved Property			Commercial & Industrial			Residential Real Estate			Home Equity			Consumer			Deposit Overdrafts (1)			Total
Balance at December 31, 2023
Allowance for credit losses - loans	$	7,123		$	59,351		$	36,644		$	21,218		$	1,017		$	3,956		$	1,366		$	130,675
Allowance for credit losses - loan commitments		6,894			—			429			1,276			5			—			—			8,604
Total beginning allowance for credit losses - loans and loan commitments		14,017			59,351			37,073			22,494			1,022			3,956			1,366			139,279
Provision for credit losses:
Provision for loan losses		858			(3,621	)		5,806			650			25			538			194			4,450
Provision for loan commitments		(568	)		—			124			9			6			—			—			(429	)
Total provision for credit losses - loans and loan commitments (2)		290			(3,621	)		5,930			659			31			538			194			4,021
Charge-offs		(813	)		(58	)		(4,810	)		(135	)		(216	)		(1,098	)		(453	)		(7,583	)
Recoveries		—			432			401			34			198			455			128			1,648
Net (charge-offs) recoveries		(813	)		374			(4,409	)		(101	)		(18	)		(643	)		(325	)		(5,935	)
Balance at March 31, 2024
Allowance for credit losses - loans		7,168			56,104			38,041			21,767			1,024			3,851			1,235			129,190
Allowance for credit losses - loan commitments		6,326			—			553			1,285			11			—			—			8,175
Total ending allowance for credit losses - loans and loan commitments	$	13,494		$	56,104		$	38,594		$	23,052		$	1,035		$	3,851		$	1,235		$	137,365

Balance at December 31, 2022
Allowance for credit losses - loans	$	6,737		$	52,659		$	31,540		$	18,208		$	4,234		$	3,127		$	1,285		$	117,790
Allowance for credit losses - loan commitments		6,025			—			—			2,215			128			—			—			8,368
Total beginning allowance for credit losses - loans and loan commitments		12,762			52,659			31,540			20,423			4,362			3,127			1,285			126,158
Provision for credit losses:
Provision for loan losses		(1,440	)		2,508			(2,783	)		4,407			141			97			(103	)		2,827
Provision for loan commitments		(51	)		—			797			(10	)		23			—			—			759
Total provision for credit losses - loans and loan commitments (2)		(1,491	)		2,508			(1,986	)		4,397			164			97			(103	)		3,586
Charge-offs		(222	)		(1,355	)		(320	)		13			(258	)		(776	)		(401	)		(3,319	)
Recoveries		73			276			134			75			80			622			140			1,400
Net (charge-offs) recoveries		(149	)		(1,079	)		(186	)		88			(178	)		(154	)		(261	)		(1,919	)
Balance at March 31, 2023
Allowance for credit losses - loans		5,148			54,088			28,571			22,703			4,197			3,070			921			118,698
Allowance for credit losses - loan commitments		5,974			—			797			2,205			151			—			—			9,127
Total ending allowance for credit losses - loans and loan commitments	$	11,122		$	54,088		$	29,368		$	24,908		$	4,348		$	3,070		$	921		$	127,825

(1) Deposit overdrafts of $4.1 million and $3.6 million are included in total portfolio loans for the periods ending March 31, 2024 and March 31, 2023, respectively.

(2) The total provision for credit losses - loans and loan commitments is reported in the consolidated statements of income in the provision for credit losses line item, which also includes the provision for credit losses on held-to-maturity securities. For more information on the provision relating to held-to-maturity securities, please see Note 3, "Securities."

The following tables present the allowance for credit losses and recorded investments in loans by category, as of each period-end:


	Allowance for Credit Losses and Recorded Investment in Loans
(unaudited, in thousands)	Commercial Real Estate- Land and Construction		Commercial Real Estate- Improved Property		Commercial and Industrial		Residential Real Estate		Home Equity		Consumer		Deposit Overdrafts (1)		Total
March 31, 2024
Allowance for credit losses:
Loans individually-evaluated	$	—	$	5,591	$	—	$	—	$	—	$	—	$	—	$	5,591
Loans collectively-evaluated		7,168		50,513		38,041		21,767		1,024		3,851		1,235		123,599
Loan commitments (2)		6,326		—		553		1,285		11		—		—		8,175
Total allowance for credit losses - loans and commitments	$	13,494	$	56,104	$	38,594	$	23,052	$	1,035	$	3,851	$	1,235	$	137,365

Portfolio loans:
Individually-evaluated for credit losses	$	—	$	36,701	$	45	$	—	$	—	$	—	$	—	$	36,746
Collectively-evaluated for credit losses		1,087,649		5,630,583		1,683,127		2,469,357		740,973		224,732		—		11,836,421
Total portfolio loans	$	1,087,649	$	5,667,284	$	1,683,172	$	2,469,357	$	740,973	$	224,732	$	—	$	11,873,167

December 31, 2023
Allowance for credit losses:
Loans individually-evaluated	$	—	$	5,745	$	—	$	—	$	—	$	—	$	—	$	5,745
Loans collectively-evaluated		7,123		53,606		36,644		21,218		1,017		3,956		1,366		124,930
Loan commitments (2)		6,894		—		429		1,276		5		—		—		8,604
Total allowance for credit losses - loans and commitments	$	14,017	$	59,351	$	37,073	$	22,494	$	1,022	$	3,956	$	1,366	$	139,279

Portfolio loans:
Individually-evaluated for credit losses	$	—	$	36,929	$	116	$	—	$	—	$	—	$	—	$	37,045
Collectively-evaluated for credit losses		1,055,865		5,472,654		1,670,543		2,438,574		734,219		229,561		—		11,601,416
Total portfolio loans	$	1,055,865	$	5,509,583	$	1,670,659	$	2,438,574	$	734,219	$	229,561	$	—	$	11,638,461

(1) Deposit overdrafts of $4.1 million and $4.7 million are included in total portfolio loans for the periods ending March 31, 2024 and December 31, 2023, respectively.

(2) For additional detail relating to loan commitments, see Note 11, "Commitments and Contingent Liabilities."

Commercial Loan Risk Grades

Commercial loan risk grades are determined based on an evaluation of the relevant characteristics of each loan, assigned at inception and adjusted thereafter at any time to reflect changes in the risk profile throughout the life of each loan. The primary factors used to determine the risk grade are the sufficiency, reliability and sustainability of the primary source of repayment and overall financial strength of the borrower. The rating system more heavily weights the debt service coverage, leverage and loan to value factors to derive the risk grade. Other factors that are considered at a lesser weighting include management, industry or property type risks, payment history, collateral or guarantees.

Commercial real estate – land and construction consists of loans to finance investments in vacant land, land development, construction of residential housing, and construction of commercial buildings. Commercial real estate – improved property consists of loans for the purchase or refinance of all types of improved owner-occupied and investment properties. Factors that are considered in assigning the risk grade vary depending on the type of property financed. The risk grade assigned to construction and development loans is based on the overall viability of the project, the experience and financial capacity of the developer or builder to successfully complete the project, project specific and market absorption rates and comparable property values, and the amount of pre-sales for residential housing construction or pre-leases for commercial investment property. The risk grade assigned to commercial investment property loans is based primarily on the adequacy of the net operating income generated by the property to service the debt (“debt service coverage”), the loan to appraised value, the type, quality, industry and mix of tenants, and the terms of leases. The risk grade assigned to owner-occupied commercial real estate is based primarily on global debt service coverage and the leverage of the business, but may also consider the industry in which the business operates, the business’ specific competitive advantages or disadvantages, collateral margins and the quality and experience of management.

Commercial and industrial (“C&I”) loans consist of revolving lines of credit to finance accounts receivable, inventory and other general business purposes; term loans to finance fixed assets other than real estate, and letters of credit to support trade, insurance or governmental requirements for a variety of businesses. Most C&I borrowers are privately-held companies with annual sales up to $100 million. Primary factors that are considered in risk rating C&I loans include debt service coverage and leverage. Other factors including operating trends, collateral coverage along with management experience are also considered.

Pass loans are those that exhibit a history of positive financial results that are at least comparable to the average for their industry or type of real estate. The primary source of repayment is acceptable and these loans are expected to perform satisfactorily during most economic cycles. Pass loans typically have no significant external factors that are expected to adversely affect these borrowers more than others in the same industry or property type. Any minor unfavorable characteristics of these loans are outweighed or mitigated by other positive factors including but not limited to adequate secondary or tertiary sources of repayment, including guarantees.

Criticized loans, considered as compromised, have 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 bank's credit position at some future date. Criticized loans are not adversely classified by the banking regulators and do not expose the bank to sufficient risk to warrant adverse classification.

Classified loans, considered as substandard and doubtful, are equivalent to the classifications used by banking regulators. Substandard loans are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified must 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. These loans may or may not be reported as non-accrual. Doubtful loans have all the weaknesses inherent in those classified substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently known facts, conditions, and values, highly questionable and improbable. These loans are reported as non-accrual.

The following tables summarize commercial loans by their assigned risk grade:


	Commercial Loans by Internally Assigned Risk Grade
(unaudited, in thousands)	Commercial Real Estate- Land and Construction		Commercial Real Estate- Improved Property		Commercial & Industrial		Total Commercial Loans
As of March 31, 2024
Pass	$	1,084,975	$	5,491,663	$	1,588,033	$	8,164,671
Criticized - compromised		2,457		103,648		65,431		171,536
Classified - substandard		217		71,973		29,708		101,898
Classified - doubtful		—		—		—		—
Total	$	1,087,649	$	5,667,284	$	1,683,172	$	8,438,105

As of December 31, 2023
Pass	$	1,053,359	$	5,337,394	$	1,586,683	$	7,977,436
Criticized - compromised		2,497		107,473		73,204		183,174
Classified - substandard		9		64,716		10,772		75,497
Classified - doubtful		—		—		—		—
Total	$	1,055,865	$	5,509,583	$	1,670,659	$	8,236,107

Residential real estate, home equity and consumer loans are not assigned internal risk grades other than as required by regulatory guidelines that are based primarily on the age of past due loans. Wesbanco primarily evaluates the credit quality of residential real estate, home equity and consumer loans based on repayment performance and historical loss rates. The aggregate amount of residential real estate, home equity and consumer loans classified as substandard in accordance with regulatory guidelines was $21.3 million at March 31, 2024 and $20.0 million at December 31, 2023, of which $4.9 million and $4.6 million were accruing, for each period, respectively. These loans are not included in the tables above. In addition, $62.8 million and $21.2 million of unfunded commercial loan commitments are also not included in the tables above at March 31, 2024 and December 31, 2023, respectively.

Past Due and Nonperforming Loans

The following tables summarize the age analysis of all categories of loans:


	Age Analysis of Loans
(unaudited, in thousands)	Current		30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total Past Due		Total Loans		90 Days or More Past Due and Accruing (1)
As of March 31, 2024
Commercial real estate:
Land and construction	$	1,087,649	$	—	$	—	$	—	$	—	$	1,087,649	$	—
Improved property		5,651,347		2,852		1,226		11,859		15,937		5,667,284		408
Total commercial real estate		6,738,996		2,852		1,226		11,859		15,937		6,754,933		408
Commercial and industrial		1,679,157		1,440		633		1,942		4,015		1,683,172		135
Residential real estate		2,458,403		3,160		478		7,316		10,954		2,469,357		3,151
Home equity		730,521		4,869		2,249		3,334		10,452		740,973		1,223
Consumer		220,302		2,905		1,019		506		4,430		224,732		491
Total portfolio loans		11,827,379		15,226		5,605		24,957		45,788		11,873,167		5,408
Loans held for sale		12,472		—		—		—		—		12,472		—
Total loans	$	11,839,851	$	15,226	$	5,605	$	24,957	$	45,788	$	11,885,639	$	5,408

Nonperforming loans included above are as follows:
Non-accrual loans	$	11,054	$	1,612	$	704	$	19,549	$	21,865	$	32,919

As of December 31, 2023
Commercial real estate:
Land and construction	$	1,055,865	$	—	$	—	$	—	$	-	$	1,055,865	$	—
Improved property		5,490,946		4,416		3,627		10,594		18,637		5,509,583		1,899
Total commercial real estate		6,546,811		4,416		3,627		10,594		18,637		6,565,448		1,899
Commercial and industrial		1,663,985		640		1,255		4,779		6,674		1,670,659		3,184
Residential real estate		2,429,200		1,572		2,471		5,331		9,374		2,438,574		2,602
Home equity		724,293		4,691		1,198		4,037		9,926		734,219		1,407
Consumer		223,989		3,833		1,178		561		5,572		229,561		546
Total portfolio loans		11,588,278		15,152		9,729		25,302		50,183		11,638,461		9,638
Loans held for sale		16,354		—		—		—		—		16,354		—
Total loans	$	11,604,632	$	15,152	$	9,729	$	25,302	$	50,183	$	11,654,815	$	9,638

Nonperforming loans included above are as follows:
Non-accrual loans	$	9,138	$	1,300	$	706	$	15,664	$	17,670	$	26,808

The following tables summarize nonperforming loans:


	Nonperforming Loans
	March 31, 2024						December 31, 2023
	Unpaid						Unpaid
	Principal		Recorded		Related		Principal		Recorded		Related
(unaudited, in thousands)	Balance (1)		Investment		Allowance		Balance (1)		Investment		Allowance
With no related specific allowance recorded:
Commercial real estate:
Land and construction	$	1,023	$	210	$	—	$	—	$	—	$	—
Improved property		14,871		13,523		—		11,248		9,557		—
Commercial and industrial		3,660		2,765		—		2,492		1,841		—
Residential real estate		16,367		11,679		—		15,128		10,582		—
Home equity		6,420		4,669		—		6,521		4,777		—
Consumer		119		73		—		104		51		—
Total nonperforming loans without a specific allowance		42,460		32,919		—		35,493		26,808		—
Total nonperforming loans with a specific allowance		—		—		—		—		—		—
Total nonperforming loans	$	42,460	$	32,919	$	—	$	35,493	$	26,808	$	—

(1) The difference between the unpaid principal balance and the recorded investment generally reflects amounts that have been previously charged-off and fair market value adjustments on acquired nonperforming loans.


	Nonperforming Loans
	For the Three Months Ended
	March 31, 2024				March 31, 2023
	Average		Interest		Average		Interest
	Recorded		Income		Recorded		Income
(unaudited, in thousands)	Investment		Recognized		Investment		Recognized
With no related specific allowance recorded:
Commercial real estate:
Land and construction	$	105	$	—	$	56	$	—
Improved property		11,540		—		17,401		—
Commercial and industrial		2,303		—		3,161		—
Residential real estate		11,131		—		14,447		—
Home equity		4,723		—		5,118		—
Consumer		62		—		134		—
Total nonperforming loans without a specific allowance		29,864		—		40,317		—
With a specific allowance recorded:
Commercial real estate:
Land and construction		—		—		—		—
Improved property		—		—		—		—
Total nonperforming loans with a specific allowance		—		—		—		—
Total nonperforming loans	$	29,864	$	—	$	40,317	$	—

The following table presents the recorded investment in non-accrual loans:


	Non-accrual Loans (1)
	March 31,		December 31,
(unaudited, in thousands)	2024		2023
Commercial real estate:
Land and construction	$	210	$	—
Improved property		13,523		9,557
Total commercial real estate		13,733		9,557
Commercial and industrial		2,765		1,841
Residential real estate		11,679		10,582
Home equity		4,669		4,777
Consumer		73		51
Total	$	32,919	$	26,808

(1) At March 31, 2024, there were four borrowers with a loan balance greater than $1.0 million, which totaled $10.9 million, as compared to two borrowers with a loan balance greater than $1.0 million totaling $7.2 million at December 31, 2023. Total non-accrual loans may include loans that are also restructured for borrowers experiencing financial difficulty. Such loans are also set forth in the following tables.

Modifications for Borrowers Experiencing Financial Difficulty (following the adoption of ASU 2022-02)

Tables in the following section exclude the financial effects of modifications for loans that were paid off or are otherwise no longer in the loan portfolio as of period end. The following table displays the details of portfolio loans that were modified during the three months ended March 31, 2024 and 2023 presented by loan category:


	For the Three Months Ended March 31, 2024
(unaudited, in thousands)	Term Extension		Payment Delay		Total		% of Total by Loan Category
Commercial real estate - land and construction	$	—	$	—	$	—		-
Commercial real estate - improved property		24,989		—		24,989		0.4
Commercial and industrial		—		41		41		0.0
Residential real estate		—		579		579		0.0
Home equity		—		350		350		0.0
Consumer		—		124		124		0.1
Total	$	24,989	$	1,094	$	26,083		0.2

	For the Three Months Ended March 31, 2023
(unaudited, in thousands)	Term Extension		Payment Delay		Total		Percent of Total by Loan Category
Commercial real estate - land and construction	$	6,000	$	—	$	6,000		0.8
Commercial real estate - improved property		3,738		—		3,738		0.1
Commercial and industrial		6,843		—		6,843		0.5
Residential real estate		—		101		101		0.0
Home equity		8		283		291		0.0
Consumer		—		34		34		0.0
Total	$	16,589	$	418	$	17,007		0.2

Unfunded loan commitments on modifications for borrowers experiencing financial difficulty ("MBEFDs") totaled $0.7 million for loans modified during the three months ended March 31, 2024 and $1.8 million for loans modified during the twelve months ended December 31, 2023. These commitments are not included in the tables above.

The following table summarizes the financial impacts of loan modifications and payment deferrals made to portfolio loans during the three months ended March 31, 2024 and 2023, presented by loan category:


	For the Three Months Ended March 31, 2024		For the Three Months Ended March 31, 2023
(unaudited, in thousands)	Weighted-Average Term Extension (in months)		Weighted-Average Term Extension (in months)
Commercial real estate - land and construction		—		3
Commercial real estate - improved property		9		34
Commercial and industrial		—		4
Residential real estate		—		—
Home equity		—		120
Consumer		—		—

There have been no MBEFDs which defaulted (defined as 90 days past due) after the loan was modified during the three months ended March 31, 2024 and 2023.

The following table presents an aging analysis of portfolio loans by loan category that were modified during the twelve months prior to March 31, 2024.


	March 31, 2024
(unaudited, in thousands)	30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total Past Due		Current		Total
Commercial real estate - land and construction	$	—	$	—	$	—	$	—	$	—	$	—
Commercial real estate - improved property		—		—		—		—		29,041		29,041
Commercial and industrial		—		—		41		41		8,531		8,572
Residential real estate		37		68		170		275		1,200		1,475
Home equity		14		—		233		247		1,016		1,263
Consumer		39		33		9		81		380		461
Total modified loans (1)	$	90	$	101	$	453	$	644	$	40,168	$	40,812

(1) Represents balance at period end.

The following tables summarize amortized cost basis loan balances by year of origination and credit quality indicator:


	Loans As of March 31, 2024
	Amortized Cost Basis by Origination Year
(unaudited, in thousands)	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
Commercial real estate: land and construction
Risk rating:
Pass	$	24,606	$	331,376	$	379,849	$	152,158	$	24,478	$	60,384	$	62,496	$	49,628	$	1,084,975
Criticized - compromised		—		—		—		—		—		14		280		2,163		2,457
Classified - substandard		—		210		—		—		—		7		—		—		217
Classified - doubtful		—		—		—		—		—		—		—		—		—
Total	$	24,606	$	331,586	$	379,849	$	152,158	$	24,478	$	60,405	$	62,776	$	51,791	$	1,087,649
Current-period gross charge-offs	$	—	$	813	$	—	$	—	$	—	$	—	$	—	$	—	$	813

Commercial real estate: improved property
Risk rating:
Pass	$	107,508	$	500,262	$	1,090,763	$	576,509	$	618,834	$	2,165,451	$	115,578	$	316,758	$	5,491,663
Criticized - compromised		—		12,928		11,434		8,319		4,380		39,434		1,697		25,456		103,648
Classified - substandard		—		1,906		5,493		776		2,326		61,438		—		34		71,973
Classified - doubtful		—		—		—		—		—		—		—		—		—
Total	$	107,508	$	515,096	$	1,107,690	$	585,604	$	625,540	$	2,266,323	$	117,275	$	342,248	$	5,667,284
Current-period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	58	$	—	$	—	$	58

Commercial and industrial
Risk rating:
Pass	$	60,297	$	217,013	$	226,435	$	135,148	$	68,852	$	275,734	$	546,174	$	58,380	$	1,588,033
Criticized - compromised		—		1,276		1,174		254		1,387		38,277		15,626		7,437		65,431
Classified - substandard		—		405		875		741		239		2,343		24,145		960		29,708
Classified - doubtful		—		—		—		—		—		—		—		—		—
Total	$	60,297	$	218,694	$	228,484	$	136,143	$	70,478	$	316,354	$	585,945	$	66,777	$	1,683,172
Current-period gross charge-offs	$	—	$	274	$	126	$	—	$	53	$	325	$	—	$	4,032	$	4,810

Residential real estate
Loan delinquency:
Current	$	34,392	$	278,392	$	393,426	$	435,283	$	182,098	$	527,391	$	—	$	607,421	$	2,458,403
30-59 days past due		—		—		—		—		339		2,728		—		93		3,160
60-89 days past due		—		—		—		—		—		478		—		—		478
90 days or more past due		—		—		791		34		168		5,087		—		1,236		7,316
Total	$	34,392	$	278,392	$	394,217	$	435,317	$	182,605	$	535,684	$	—	$	608,750	$	2,469,357
Current-period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	77	$	—	$	58	$	135

Home equity
Loan delinquency:
Current	$	11,894	$	993	$	1,676	$	1,059	$	1,840	$	21,352	$	689,877	$	1,830	$	730,521
30-59 days past due		—		59		251		80		57		841		3,425		156		4,869
60-89 days past due		—		700		217		—		14		1,308		3		7		2,249
90 days or more past due		—		—		222		177		657		1,954		—		324		3,334
Total	$	11,894	$	1,752	$	2,366	$	1,316	$	2,568	$	25,455	$	693,305	$	2,317	$	740,973
Current-period gross charge-offs	$	—	$	20	$	62	$	—	$	35	$	72	$	20	$	7	$	216

Consumer
Loan delinquency:
Current	$	19,019	$	76,043	$	52,536	$	19,109	$	10,962	$	18,694	$	23,939	$	—	$	220,302
30-59 days past due		86		709		950		779		183		193		5		—		2,905
60-89 days past due		—		281		519		64		73		82		—		—		1,019
90 days or more past due		—		156		109		64		70		107		—		—		506
Total	$	19,105	$	77,189	$	54,114	$	20,016	$	11,288	$	19,076	$	23,944	$	—	$	224,732
Current-period gross charge-offs	$	—	$	189	$	587	$	213	$	52	$	57	$	—	$	—	$	1,098


	Loans As of December 31, 2023
	Amortized Cost Basis by Origination Year
(in thousands)	2023		2022		2021		2020		2019		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
Commercial real estate: land and construction
Risk rating:
Pass	$	290,954	$	349,549	$	145,043	$	54,172	$	48,655	$	35,917	$	82,288	$	46,781	$	1,053,359
Criticized - compromised		—		—		—		—		—		16		299		2,182		2,497
Classified - substandard		—		—		—		—		—		9		—		—		9
Classified - doubtful		—		—		—		—		—		—		—		—		—
Total	$	290,954	$	349,549	$	145,043	$	54,172	$	48,655	$	35,942	$	82,587	$	48,963	$	1,055,865
Current-period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	222	$	222

Commercial real estate: improved property
Risk rating:
Pass	$	494,142	$	1,076,535	$	603,354	$	581,540	$	514,523	$	1,706,804	$	103,467	$	257,029	$	5,337,394
Criticized - compromised		—		16,270		8,630		4,387		5,185		44,861		2,373		25,767		107,473
Classified - substandard		1,921		517		417		2,416		23,472		35,939		—		34		64,716
Classified - doubtful		—		—		—		—		—		—		—		—		—
Total	$	496,063	$	1,093,322	$	612,401	$	588,343	$	543,180	$	1,787,604	$	105,840	$	282,830	$	5,509,583
Current-period gross charge-offs	$	—	$	—	$	372	$	—	$	—	$	1,505	$	—	$	—	$	1,877

Commercial and industrial
Risk rating:
Pass	$	238,427	$	234,520	$	136,998	$	78,836	$	39,259	$	252,826	$	541,400	$	64,417	$	1,586,683
Criticized - compromised		1,094		834		3,169		1,490		7,334		31,526		20,626		7,131		73,204
Classified - substandard		33		149		315		265		825		1,916		5,797		1,472		10,772
Classified - doubtful		—		—		—		—		—		—		—		—		—
Total	$	239,554	$	235,503	$	140,482	$	80,591	$	47,418	$	286,268	$	567,823	$	73,020	$	1,670,659
Current-period gross charge-offs	$	98	$	205	$	603	$	353	$	20	$	463	$	—	$	541	$	2,283

Residential real estate
Loan delinquency:
Current	$	277,790	$	429,835	$	445,322	$	185,139	$	86,149	$	456,818	$	—	$	548,147	$	2,429,200
30-59 days past due		—		—		—		—		—		1,572		—		—		1,572
60-89 days past due		—		—		—		341		—		2,130		—		—		2,471
90 days or more past due		—		799		34		—		263		4,207		—		28		5,331
Total	$	277,790	$	430,634	$	445,356	$	185,480	$	86,412	$	464,727	$	—	$	548,175	$	2,438,574
Current-period gross charge-offs	$	—	$	—	$	—	$	—	$	5	$	387	$	—	$	—	$	392

Home equity
Loan delinquency:
Current	$	12,675	$	1,235	$	1,467	$	1,571	$	1,614	$	22,484	$	681,848	$	1,399	$	724,293
30-59 days past due		34		193		85		73		44		947		3,315		—		4,691
60-89 days past due		119		318		16		68		76		524		—		77		1,198
90 days or more past due		—		213		—		737		230		2,527		—		330		4,037
Total	$	12,828	$	1,959	$	1,568	$	2,449	$	1,964	$	26,482	$	685,163	$	1,806	$	734,219
Current-period gross charge-offs	$	—	$	139	$	57	$	29	$	79	$	615	$	6	$	—	$	925

Consumer
Loan delinquency:
Current	$	84,526	$	57,661	$	21,592	$	13,189	$	10,958	$	12,143	$	23,916	$	4	$	223,989
30-59 days past due		699		1,526		952		343		162		119		32		—		3,833
60-89 days past due		191		616		195		112		5		59		—		—		1,178
90 days or more past due		64		203		114		63		9		108		—		—		561
Total	$	85,480	$	60,006	$	22,853	$	13,707	$	11,134	$	12,429	$	23,948	$	4	$	229,561
Current-period gross charge-offs	$	251	$	1,921	$	901	$	301	$	100	$	247	$	4	$	—	$	3,725

The following table summarizes other real estate owned and repossessed assets included in other assets:


	March 31,		December 31,
(unaudited, in thousands)	2024		2023
Other real estate owned	$	1,210	$	1,207
Repossessed assets		264		290
Total other real estate owned and repossessed assets	$	1,474	$	1,497

There were no residential real estate loans included in other real estate owned at both March 31, 2024 and December 31, 2023. At March 31, 2024 and December 31, 2023, formal foreclosure proceedings were in process on residential real estate loans totaling $4.2 million and $4.0 million, respectively.