XML 20 R14.htm IDEA: XBRL DOCUMENT v3.24.2
Loans and Leases and the Allowance for Credit Losses
 6 Months Ended
Jun. 30, 2024
Loans And Leases And Allowance For Loan And Lease Losses [Abstract]  
Loans and Leases and the Allowance for Credit Losses

Note 4. Loans and Leases and the Allowance for Credit Losses

Loans and Leases

The Company’s loan and lease portfolio was comprised of the following as of June 30, 2024 and December 31, 2023:

 

(dollars in thousands)

 

June 30,
2024

 

 

December 31,
2023

 

Commercial

 

 

 

 

 

 

Commercial and Industrial

 

$

1,691,441

 

 

$

1,652,699

 

Paycheck Protection Program

 

 

7,997

 

 

 

11,369

 

Commercial Mortgage

 

 

3,741,140

 

 

 

3,749,016

 

Construction

 

 

315,571

 

 

 

304,463

 

Lease Financing

 

 

59,388

 

 

 

59,939

 

Total Commercial

 

 

5,815,537

 

 

 

5,777,486

 

Consumer

 

 

 

 

 

 

Residential Mortgage

 

 

4,595,586

 

 

 

4,684,171

 

Home Equity

 

 

2,221,073

 

 

 

2,264,827

 

Automobile

 

 

806,240

 

 

 

837,830

 

Other 1

 

 

392,830

 

 

 

400,712

 

Total Consumer

 

 

8,015,729

 

 

 

8,187,540

 

Total Loans and Leases

 

$

13,831,266

 

 

$

13,965,026

 

 

1.
Comprised of other revolving credit, installment, and lease financing.

Most of the Company’s lending activity is with customers located in the State of Hawaii. A substantial portion of the Company’s real estate loans are secured by real estate located in the State of Hawaii.

The Company elected to exclude AIR from the amortized cost basis of loans disclosed throughout this footnote. As of June 30, 2024 and December 31, 2023, AIR for loans totaled $49.6 million and $48.4 million, respectively. AIR is included in the Accrued Interest Receivable line item on the Company’s unaudited consolidated statements of condition.

Allowance for Credit Losses (the “Allowance”)

The following presents by portfolio segment, the activity in the Allowance for the three and six months ended June 30, 2024 and June 30, 2023.

 

(dollars in thousands)

 

Commercial

 

 

Consumer

 

 

Total

 

Three Months Ended June 30, 2024

 

 

 

 

 

 

 

 

 

Allowance for Credit Losses:

 

 

 

 

 

 

 

 

 

Balance at Beginning of Period

 

$

75,087

 

 

$

72,577

 

 

$

147,664

 

Loans and Leases Charged-Off

 

 

(875

)

 

 

(3,955

)

 

 

(4,830

)

Recoveries on Loans and Leases Previously Charged-Off

 

 

263

 

 

 

1,174

 

 

 

1,437

 

Net Loans and Leases Charged-Off

 

 

(612

)

 

 

(2,781

)

 

 

(3,393

)

Provision for Credit Losses

 

 

5,610

 

 

 

(2,404

)

 

 

3,206

 

Balance at End of Period

 

$

80,085

 

 

$

67,392

 

 

$

147,477

 

Six Months Ended June 30, 2024

 

 

 

 

 

 

 

 

 

Allowance for Credit Losses:

 

 

 

 

 

 

 

 

 

Balance at Beginning of Period

 

$

74,074

 

 

$

72,329

 

 

$

146,403

 

Loans and Leases Charged-Off

 

 

(1,235

)

 

 

(7,350

)

 

 

(8,585

)

Recoveries on Loans and Leases Previously Charged-Off

 

 

379

 

 

 

2,532

 

 

 

2,911

 

Net Loans and Leases Charged-Off

 

 

(856

)

 

 

(4,818

)

 

 

(5,674

)

Provision for Credit Losses

 

 

6,867

 

 

 

(119

)

 

 

6,748

 

Balance at End of Period

 

$

80,085

 

 

$

67,392

 

 

$

147,477

 

Three Months Ended June 30, 2023

 

 

 

 

 

 

 

 

 

Allowance for Credit Losses:

 

 

 

 

 

 

 

 

 

Balance at Beginning of Period

 

$

58,771

 

 

$

84,806

 

 

$

143,577

 

Loans and Leases Charged-Off

 

 

(203

)

 

 

(3,308

)

 

 

(3,511

)

Recoveries on Loans and Leases Previously Charged-Off

 

 

103

 

 

 

2,031

 

 

 

2,134

 

Net Loans and Leases Charged-Off

 

 

(100

)

 

 

(1,277

)

 

 

(1,377

)

Provision for Credit Losses

 

 

5,270

 

 

 

(2,103

)

 

 

3,167

 

Balance at End of Period

 

$

63,941

 

 

$

81,426

 

 

$

145,367

 

Six Months Ended June 30, 2023

 

 

 

 

 

 

 

 

 

Allowance for Credit Losses:

 

 

 

 

 

 

 

 

 

Balance at Beginning of Period

 

$

63,900

 

 

$

80,539

 

 

$

144,439

 

Loans and Leases Charged-Off

 

 

(464

)

 

 

(7,356

)

 

 

(7,820

)

Recoveries on Loans and Leases Previously Charged-Off

 

 

153

 

 

 

3,622

 

 

 

3,775

 

Net Loans and Leases Charged-Off

 

 

(311

)

 

 

(3,734

)

 

 

(4,045

)

Provision for Credit Losses

 

 

352

 

 

 

4,621

 

 

 

4,973

 

Balance at End of Period

 

$

63,941

 

 

$

81,426

 

 

$

145,367

 

 

Credit Quality Indicators

The Company uses several credit quality indicators to manage credit risk in an ongoing manner. The Company uses an internal credit risk rating system that categorizes loans and leases into pass, special mention, or classified categories. Credit risk ratings are applied individually to those classes of loans and leases that have significant or unique credit characteristics that benefit from a case-by-case evaluation. These are typically loans and leases to businesses or individuals in the classes which comprise the commercial portfolio segment. Groups of loans and leases that are underwritten and structured using standardized criteria and characteristics are typically monitored and risk-rated collectively. These are typically loans and leases to individuals in the classes which comprise the consumer portfolio segment.

The following are the definitions of the Company’s credit quality indicators:

Pass:

Loans and leases in all classes within the commercial and consumer portfolio segments that are not adversely rated, are generally contractually current as to principal and interest, and are otherwise in compliance with the contractual terms of the loan or lease agreement. Residential mortgage loans that are past due 90 days or more as to principal or interest may be considered Pass if the current loan-to-value ratio is 60% or less. Home equity loans that are past due 90 days or more as to principal or interest may be considered Pass if: a) the home equity loan is in first lien position and the current loan-to-value ratio is 60% or less; or b) the first mortgage is with the Company and the current combined loan-to-value ratio is 60% or less.

 

 

Special Mention:

Loans and leases in all classes within the commercial portfolio segment that have potential weaknesses that warrant management’s close attention. If not addressed, these potential weaknesses may result in deterioration of the repayment prospects for the loan or lease. The Special Mention credit quality indicator is not used for the consumer portfolio segment.

 

 

Classified:

Loans and leases in the classes within the commercial portfolio segment that are inadequately protected by the sound worth and paying capacity of the borrower or applicable collateral, if any. Classified loans and leases are also those in the classes within the consumer portfolio segment that are past due 90 days or more as to principal or interest (excluding residential mortgage and home equity loans which meet the criteria for being considered Pass). Residential mortgage and home equity loans may be current as to principal and interest, but may be considered Classified for a period of generally up to six months following a loan modification. Following a period of demonstrated performance in accordance with the modified contractual terms, the loan may be removed from Classified status.

 

For Pass rated credits in the commercial portfolio, most risk ratings are certified at a minimum annually. For Special Mention or Classified credits in the commercial portfolio, risk ratings are reviewed for appropriateness on an ongoing basis, monthly, or at a minimum, quarterly. The following presents by credit quality indicator, loan class, and year of origination, the amortized cost basis of the Company’s loans and leases as of June 30, 2024.

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

 

 

 

(dollars in thousands)

2024 2

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Revolving
Loans

 

 

Revolving
Loans
Converted
to Term
Loans

 

 

Total Loans
and Leases

 

June 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and Industrial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

187,066

 

 

$

310,799

 

 

$

266,769

 

 

$

199,023

 

 

$

138,826

 

 

$

94,975

 

 

$

385,181

 

 

$

332

 

 

$

1,582,971

 

Special Mention

 

 

—

 

 

 

5,403

 

 

 

985

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

46,155

 

 

 

—

 

 

 

52,543

 

Classified

 

 

310

 

 

 

11,131

 

 

 

4,403

 

 

 

6,414

 

 

 

6,624

 

 

 

8,898

 

 

 

18,138

 

 

 

9

 

 

 

55,927

 

Total Commercial and Industrial

 

$

187,376

 

 

$

327,333

 

 

$

272,157

 

 

$

205,437

 

 

$

145,450

 

 

$

103,873

 

 

$

449,474

 

 

$

341

 

 

$

1,691,441

 

Paycheck Protection Program

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

—

 

 

$

—

 

 

$

—

 

 

$

674

 

 

$

7,323

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

7,997

 

Total Paycheck Protection Program

 

$

—

 

 

$

—

 

 

$

—

 

 

$

674

 

 

$

7,323

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

7,997

 

Commercial Mortgage

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

155,718

 

 

$

648,625

 

 

$

1,012,133

 

 

$

655,550

 

 

$

411,613

 

 

$

624,429

 

 

$

43,802

 

 

$

—

 

 

$

3,551,870

 

Special Mention

 

 

32,508

 

 

 

60,167

 

 

 

7,775

 

 

 

3,405

 

 

 

2,985

 

 

 

20,208

 

 

 

—

 

 

 

—

 

 

 

127,048

 

Classified

 

 

864

 

 

 

5,035

 

 

 

18,703

 

 

 

3,197

 

 

 

19,955

 

 

 

14,468

 

 

 

—

 

 

 

—

 

 

 

62,222

 

Total Commercial Mortgage

 

$

189,090

 

 

$

713,827

 

 

$

1,038,611

 

 

$

662,152

 

 

$

434,553

 

 

$

659,105

 

 

$

43,802

 

 

$

—

 

 

$

3,741,140

 

Construction

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

60,012

 

 

$

106,472

 

 

$

130,383

 

 

$

1,119

 

 

$

1,302

 

 

$

—

 

 

$

13,789

 

 

$

—

 

 

$

313,077

 

Classified

 

 

—

 

 

 

—

 

 

 

2,494

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,494

 

Total Construction

 

$

60,012

 

 

$

106,472

 

 

$

132,877

 

 

$

1,119

 

 

$

1,302

 

 

$

—

 

 

$

13,789

 

 

$

—

 

 

$

315,571

 

Lease Financing

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

9,400

 

 

$

8,952

 

 

$

10,874

 

 

$

11,492

 

 

$

6,860

 

 

$

10,607

 

 

$

—

 

 

$

—

 

 

$

58,185

 

Classified

 

 

—

 

 

 

546

 

 

 

44

 

 

 

101

 

 

 

80

 

 

 

432

 

 

 

—

 

 

 

—

 

 

 

1,203

 

Total Lease Financing

 

$

9,400

 

 

$

9,498

 

 

$

10,918

 

 

$

11,593

 

 

$

6,940

 

 

$

11,039

 

 

$

—

 

 

$

—

 

 

$

59,388

 

Total Commercial

 

$

445,878

 

 

$

1,157,130

 

 

$

1,454,563

 

 

$

880,975

 

 

$

595,568

 

 

$

774,017

 

 

$

507,065

 

 

$

341

 

 

$

5,815,537

 

Consumer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential Mortgage

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

98,131

 

 

$

280,798

 

 

$

769,750

 

 

$

1,209,436

 

 

$

945,064

 

 

$

1,289,122

 

 

$

—

 

 

$

—

 

 

$

4,592,301

 

Classified

 

 

—

 

 

 

—

 

 

 

—

 

 

 

426

 

 

 

745

 

 

 

2,114

 

 

 

—

 

 

 

—

 

 

 

3,285

 

Total Residential Mortgage

 

$

98,131

 

 

$

280,798

 

 

$

769,750

 

 

$

1,209,862

 

 

$

945,809

 

 

$

1,291,236

 

 

$

—

 

 

$

—

 

 

$

4,595,586

 

Home Equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

42

 

 

$

2,166,689

 

 

$

52,061

 

 

$

2,218,792

 

Classified

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,580

 

 

 

701

 

 

 

2,281

 

Total Home Equity

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

42

 

 

$

2,168,269

 

 

$

52,762

 

 

$

2,221,073

 

Automobile

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

114,159

 

 

$

221,749

 

 

$

255,025

 

 

$

121,413

 

 

$

48,684

 

 

$

44,641

 

 

$

—

 

 

$

—

 

 

$

805,671

 

Classified

 

 

67

 

 

 

160

 

 

 

124

 

 

 

116

 

 

 

1

 

 

 

101

 

 

 

—

 

 

 

—

 

 

 

569

 

Total Automobile

 

$

114,226

 

 

$

221,909

 

 

$

255,149

 

 

$

121,529

 

 

$

48,685

 

 

$

44,742

 

 

$

—

 

 

$

—

 

 

$

806,240

 

Other1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

66,544

 

 

$

87,656

 

 

$

118,392

 

 

$

70,624

 

 

$

8,530

 

 

$

39,820

 

 

$

541

 

 

$

—

 

 

$

392,107

 

Classified

 

 

40

 

 

 

115

 

 

 

234

 

 

 

142

 

 

 

21

 

 

 

171

 

 

 

—

 

 

 

—

 

 

 

723

 

Total Other

 

$

66,584

 

 

$

87,771

 

 

$

118,626

 

 

$

70,766

 

 

$

8,551

 

 

$

39,991

 

 

$

541

 

 

$

—

 

 

$

392,830

 

Total Consumer

 

$

278,941

 

 

$

590,478

 

 

$

1,143,525

 

 

$

1,402,157

 

 

$

1,003,045

 

 

$

1,376,011

 

 

$

2,168,810

 

 

$

52,762

 

 

$

8,015,729

 

Total Loans and Leases

 

$

724,819

 

 

$

1,747,608

 

 

$

2,598,088

 

 

$

2,283,132

 

 

$

1,598,613

 

 

$

2,150,028

 

 

$

2,675,875

 

 

$

53,103

 

 

$

13,831,266

 

 

1.
Comprised of other revolving credit, installment, and lease financing.
2.
Loans reported as Special Mention and Classified in the 2024 column represent renewal of loans that originated in an earlier period.

For the six months ended June 30, 2024, $7.2 million of revolving loans were converted to term loans.

The following presents by credit quality indicator, loan class, and year of origination, the amortized cost basis of the Company’s loans and leases as of December 31, 2023.

 

 

 

Term Loans by Origination Year

 

 

 

 

 

 

 

 

 

 

(dollars in thousands)

2023 2

 

 

2022

 

 

2021

 

 

2020

 

 

2019

 

 

Prior

 

 

Revolving
Loans

 

 

Revolving
Loans
Converted
to Term
Loans

 

 

Total Loans
and Leases

 

December 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and Industrial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

319,451

 

 

$

294,142

 

 

$

229,286

 

 

$

148,575

 

 

$

40,696

 

 

$

77,789

 

 

$

380,524

 

 

$

450

 

 

$

1,490,913

 

Special Mention

 

 

50,792

 

 

 

5,555

 

 

 

—

 

 

 

—

 

 

 

657

 

 

 

—

 

 

 

39,278

 

 

 

—

 

 

 

96,282

 

Classified

 

 

11,790

 

 

 

5,846

 

 

 

8,928

 

 

 

6,625

 

 

 

—

 

 

 

9,199

 

 

 

23,103

 

 

 

13

 

 

 

65,504

 

Total Commercial and Industrial

 

$

382,033

 

 

$

305,543

 

 

$

238,214

 

 

$

155,200

 

 

$

41,353

 

 

$

86,988

 

 

$

442,905

 

 

$

463

 

 

$

1,652,699

 

Paycheck Protection Program

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

—

 

 

$

—

 

 

$

2,199

 

 

$

9,170

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

11,369

 

Total Paycheck Protection Program

 

$

—

 

 

$

—

 

 

$

2,199

 

 

$

9,170

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

11,369

 

Commercial Mortgage

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

788,558

 

 

$

1,043,472

 

 

$

679,258

 

 

$

432,896

 

 

$

244,767

 

 

$

419,225

 

 

$

41,292

 

 

$

—

 

 

$

3,649,468

 

Special Mention

 

 

30,356

 

 

 

18,636

 

 

 

—

 

 

 

3,875

 

 

 

—

 

 

 

9,153

 

 

 

—

 

 

 

—

 

 

 

62,020

 

Classified

 

 

5,829

 

 

 

155

 

 

 

3,724

 

 

 

13,112

 

 

 

535

 

 

 

14,173

 

 

 

—

 

 

 

—

 

 

 

37,528

 

Total Commercial Mortgage

 

$

824,743

 

 

$

1,062,263

 

 

$

682,982

 

 

$

449,883

 

 

$

245,302

 

 

$

442,551

 

 

$

41,292

 

 

$

—

 

 

$

3,749,016

 

Construction

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

77,163

 

 

$

149,183

 

 

$

50,996

 

 

$

—

 

 

$

16,009

 

 

$

—

 

 

$

9,777

 

 

$

—

 

 

$

303,128

 

Special Mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,335

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,335

 

Total Construction

 

$

77,163

 

 

$

149,183

 

 

$

50,996

 

 

$

1,335

 

 

$

16,009

 

 

$

—

 

 

$

9,777

 

 

$

—

 

 

$

304,463

 

Lease Financing

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

9,867

 

 

$

13,409

 

 

$

13,795

 

 

$

8,493

 

 

$

5,385

 

 

$

7,650

 

 

$

—

 

 

$

—

 

 

$

58,599

 

Classified

 

 

600

 

 

 

51

 

 

 

117

 

 

 

94

 

 

 

—

 

 

 

478

 

 

 

—

 

 

 

—

 

 

 

1,340

 

Total Lease Financing

 

$

10,467

 

 

$

13,460

 

 

$

13,912

 

 

$

8,587

 

 

$

5,385

 

 

$

8,128

 

 

$

—

 

 

$

—

 

 

$

59,939

 

Total Commercial

 

$

1,294,406

 

 

$

1,530,449

 

 

$

988,303

 

 

$

624,175

 

 

$

308,049

 

 

$

537,667

 

 

$

493,974

 

 

$

463

 

 

$

5,777,486

 

Consumer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential Mortgage

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

297,532

 

 

$

796,979

 

 

$

1,249,917

 

 

$

977,377

 

 

$

303,098

 

 

$

1,057,267

 

 

$

—

 

 

$

—

 

 

$

4,682,170

 

Classified

 

 

—

 

 

 

—

 

 

 

426

 

 

 

—

 

 

 

—

 

 

 

1,575

 

 

 

—

 

 

 

—

 

 

 

2,001

 

Total Residential Mortgage

 

$

297,532

 

 

$

796,979

 

 

$

1,250,343

 

 

$

977,377

 

 

$

303,098

 

 

$

1,058,842

 

 

$

—

 

 

$

—

 

 

$

4,684,171

 

Home Equity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

43

 

 

$

2,215,970

 

 

$

46,794

 

 

$

2,262,807

 

Classified

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,229

 

 

 

791

 

 

 

2,020

 

Total Home Equity

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

43

 

 

$

2,217,199

 

 

$

47,585

 

 

$

2,264,827

 

Automobile

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

250,380

 

 

$

301,968

 

 

$

149,915

 

 

$

64,734

 

 

$

46,396

 

 

$

24,038

 

 

$

—

 

 

$

—

 

 

$

837,431

 

Classified

 

 

84

 

 

 

108

 

 

 

11

 

 

 

46

 

 

 

72

 

 

 

78

 

 

 

—

 

 

 

—

 

 

 

399

 

Total Automobile

 

$

250,464

 

 

$

302,076

 

 

$

149,926

 

 

$

64,780

 

 

$

46,468

 

 

$

24,116

 

 

$

—

 

 

$

—

 

 

$

837,830

 

Other1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

102,563

 

 

$

141,421

 

 

$

92,312

 

 

$

13,074

 

 

$

16,897

 

 

$

32,519

 

 

$

1,277

 

 

$

—

 

 

$

400,063

 

Classified

 

 

65

 

 

 

224

 

 

 

165

 

 

 

22

 

 

 

93

 

 

 

80

 

 

 

—

 

 

 

—

 

 

 

649

 

Total Other

 

$

102,628

 

 

$

141,645

 

 

$

92,477

 

 

$

13,096

 

 

$

16,990

 

 

$

32,599

 

 

$

1,277

 

 

$

—

 

 

$

400,712

 

Total Consumer

 

$

650,624

 

 

$

1,240,700

 

 

$

1,492,746

 

 

$

1,055,253

 

 

$

366,556

 

 

$

1,115,600

 

 

$

2,218,476

 

 

$

47,585

 

 

$

8,187,540

 

Total Loans and Leases

 

$

1,945,030

 

 

$

2,771,149

 

 

$

2,481,049

 

 

$

1,679,428

 

 

$

674,605

 

 

$

1,653,267

 

 

$

2,712,450

 

 

$

48,048

 

 

$

13,965,026

 

 

1.
Comprised of other revolving credit, installment, and lease financing.
2.
Loans reported as Special Mention or Classified in the 2023 column represent renewal of loans that originated in an earlier period.

For the year ended December 31, 2023, $13.2 million of revolving loans were converted to term loans.

 

Aging Analysis

Loans and leases are considered to be past due once becoming 30 days delinquent. For the consumer portfolio, this generally represents two missed monthly payments. The following presents by class, an aging analysis of the Company’s loan and lease portfolio as of June 30, 2024 and December 31, 2023.

 

(dollars in thousands)

 

30 - 59
Days
Past Due

 

 

60 - 89
Days
Past Due

 

 

Past Due
90 Days
or More

 

 

Non-
Accrual

 

 

Total
Past Due
and Non-
Accrual

 

 

Current

 

 

Total
Loans and
Leases

 

 

Non-
Accrual
Loans
and Leases
that are
Current 2

 

As of June 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and Industrial

 

$

838

 

 

$

3,388

 

 

$

—

 

 

$

3,681

 

 

$

7,907

 

 

$

1,683,534

 

 

$

1,691,441

 

 

$

10

 

Paycheck Protection Program

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

7,997

 

 

 

7,997

 

 

 

—

 

Commercial Mortgage

 

 

230

 

 

 

—

 

 

 

—

 

 

 

2,601

 

 

 

2,831

 

 

 

3,738,309

 

 

 

3,741,140

 

 

 

2,601

 

Construction

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

315,571

 

 

 

315,571

 

 

 

—

 

Lease Financing

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

59,388

 

 

 

59,388

 

 

 

—

 

Total Commercial

 

 

1,068

 

 

 

3,388

 

 

 

—

 

 

 

6,282

 

 

 

10,738

 

 

 

5,804,799

 

 

 

5,815,537

 

 

 

2,611

 

Consumer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential Mortgage

 

 

2,760

 

 

 

1,588

 

 

 

4,524

 

 

 

2,998

 

 

 

11,870

 

 

 

4,583,716

 

 

 

4,595,586

 

 

 

—

 

Home Equity

 

 

4,785

 

 

 

2,994

 

 

 

2,025

 

 

 

3,227

 

 

 

13,031

 

 

 

2,208,042

 

 

 

2,221,073

 

 

 

835

 

Automobile

 

 

11,674

 

 

 

1,214

 

 

 

568

 

 

 

—

 

 

 

13,456

 

 

 

792,784

 

 

 

806,240

 

 

 

—

 

Other 1

 

 

1,995

 

 

 

1,022

 

 

 

733

 

 

 

—

 

 

 

3,750

 

 

 

389,080

 

 

 

392,830

 

 

 

—

 

Total Consumer

 

 

21,214

 

 

 

6,818

 

 

 

7,850

 

 

 

6,225

 

 

 

42,107

 

 

 

7,973,622

 

 

 

8,015,729

 

 

 

835

 

Total

 

$

22,282

 

 

$

10,206

 

 

$

7,850

 

 

$

12,507

 

 

$

52,845

 

 

$

13,778,421

 

 

$

13,831,266

 

 

$

3,446

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and Industrial

 

$

6,748

 

 

$

514

 

 

$

—

 

 

$

39

 

 

$

7,301

 

 

$

1,645,398

 

 

$

1,652,699

 

 

$

36

 

Paycheck Protection Program

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

11,369

 

 

 

11,369

 

 

 

—

 

Commercial Mortgage

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,884

 

 

 

2,884

 

 

 

3,746,132

 

 

 

3,749,016

 

 

 

2,884

 

Construction

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

304,463

 

 

 

304,463

 

 

 

—

 

Lease Financing

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

59,939

 

 

 

59,939

 

 

 

—

 

Total Commercial

 

 

6,748

 

 

 

514

 

 

 

—

 

 

 

2,923

 

 

 

10,185

 

 

 

5,767,301

 

 

 

5,777,486

 

 

 

2,920

 

Consumer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential Mortgage

 

 

4,547

 

 

 

317

 

 

 

3,814

 

 

 

2,935

 

 

 

11,613

 

 

 

4,672,558

 

 

 

4,684,171

 

 

 

867

 

Home Equity

 

 

4,210

 

 

 

1,967

 

 

 

1,734

 

 

 

3,791

 

 

 

11,702

 

 

 

2,253,125

 

 

 

2,264,827

 

 

 

1,101

 

Automobile

 

 

13,242

 

 

 

1,478

 

 

 

399

 

 

 

—

 

 

 

15,119

 

 

 

822,711

 

 

 

837,830

 

 

 

—

 

Other 1

 

 

1,968

 

 

 

1,019

 

 

 

648

 

 

 

—

 

 

 

3,635

 

 

 

397,077

 

 

 

400,712

 

 

 

—

 

Total Consumer

 

 

23,967

 

 

 

4,781

 

 

 

6,595

 

 

 

6,726

 

 

 

42,069

 

 

 

8,145,471

 

 

 

8,187,540

 

 

 

1,968

 

Total

 

$

30,715

 

 

$

5,295

 

 

$

6,595

 

 

$

9,649

 

 

$

52,254

 

 

$

13,912,772

 

 

$

13,965,026

 

 

$

4,888

 

 

 

1.
Comprised of other revolving credit, installment, and lease financing.
2.
Represents non-accrual loans that are not past due 30 days or more; however, full payment of principal and interest is still not expected.

 

Non-Accrual Loans and Leases

The following presents the non-accrual loans and leases as of June 30, 2024 and December 31, 2023.

 

 

 

June 30, 2024

 

 

December 31, 2023

 

(dollars in thousands)

 

Non-accrual
loans with a
related ACL

 

 

Non-accrual
loans without
a related ACL

 

 

Total Non-
accrual loans

 

 

Non-accrual
loans with a
related ACL

 

 

Non-accrual
loans without
a related ACL

 

 

Total Non-
accrual loans

 

Commercial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and Industrial

 

$

3,681

 

 

$

—

 

 

$

3,681

 

 

$

39

 

 

$

—

 

 

$

39

 

Commercial Mortgage

 

 

—

 

 

 

2,601

 

 

 

2,601

 

 

 

—

 

 

 

2,884

 

 

 

2,884

 

Total Commercial

 

 

3,681

 

 

 

2,601

 

 

 

6,282

 

 

 

39

 

 

 

2,884

 

 

 

2,923

 

Consumer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential Mortgage

 

 

2,998

 

 

 

—

 

 

 

2,998

 

 

 

2,935

 

 

 

—

 

 

 

2,935

 

Home Equity

 

 

3,227

 

 

 

—

 

 

 

3,227

 

 

 

3,791

 

 

 

—

 

 

 

3,791

 

Total Consumer

 

 

6,225

 

 

 

—

 

 

 

6,225

 

 

 

6,726

 

 

 

—

 

 

 

6,726

 

Total

 

$

9,906

 

 

$

2,601

 

 

$

12,507

 

 

$

6,765

 

 

$

2,884

 

 

$

9,649

 

 

All payments received while on non-accrual status are applied against the principal balance of the loan or lease. Income, if any, is recognized on a cash basis.

Loan Modifications to Borrowers Experiencing Financial Difficulty

Modifications to borrowers experiencing financial difficulty may include interest rate reductions, principal or interest forgiveness, forbearances, term extensions, and other actions intended to minimize economic loss and to avoid foreclosure or repossession of collateral. The following illustrates the most common loan modifications by loan classes offered by the Company that are required to be disclosed pursuant to the requirements of ASU 2022-02:

 

Loan Classes

Modification Types

Commercial:

Term extension, interest rate reductions, other-than-insignificant payment delay, or combination thereof. These modifications extend the term of the loan, lower the payment amount, or results in an other-than-insignificant payment delay during a defined period for the purpose of providing borrowers additional time to return to compliance with the original loan term.

 

Residential Mortgage/
Home Equity:

Forbearance period greater than six months. These modifications require reduced or no payments during the forbearance period for the purpose of providing borrowers additional time to return to compliance with the original loan term.

Residential Mortgage/
Home Equity:

Term extension and rate adjustment. These modifications extend the term of the loan and provides for an adjustment to the interest rate, which reduces the monthly payment requirement.

Automobile/
Direct Installment:

Term extension greater than three months. These modifications extend the term of the loan, which reduces the monthly payment requirement.

 

 

The following table presents the amortized cost basis of loan modifications made to borrowers experiencing financial difficulty during three and six months ended June 30, 2024 and June 30, 2023.

 

 

 

 

 

 

 

 

 

 

 

 

 

%

 

 

 

 

 

 

 

Payment

 

 

 

 

 

 

 

of

 

 

 

 

 

 

 

Delay

 

 

 

 

 

 

 

Total

 

 

 

 

 

Interest

 

and

 

 

 

 

 

 

 

Class of

 

 

 

Term

 

Rate

 

Term

 

Payment

 

 

 

 

 

Loans and

 

 

(dollars in thousands)

Extension

 

Reduction

 

Extension1

 

Delay

 

 

Total

 

 

Leases

 

 

Three Months Ended June 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home Equity

$

—

 

$

—

 

$

—

 

$

537

 

 

$

537

 

 

 

0.02

%

 

Automobile

 

4,795

 

 

—

 

 

383

 

 

—

 

 

 

5,178

 

 

 

0.64

%

 

Other2

 

567

 

 

—

 

 

61

 

 

—

 

 

 

628

 

 

 

0.16

%

 

Total Consumer

 

5,362

 

 

—

 

 

444

 

 

537

 

 

 

6,343

 

 

 

0.08

%

 

Total Loans and Leases

$

5,362

 

$

—

 

$

444

 

$

537

 

 

$

6,343

 

 

 

0.05

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and Industrial

$

24

 

$

—

 

$

4,841

 

$

—

 

 

$

4,865

 

 

 

0.29

%

 

Total Commercial

 

24

 

 

—

 

 

4,841

 

 

—

 

 

 

4,865

 

 

 

0.08

%

 

Consumer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential Mortgage

 

—

 

 

—

 

 

—

 

 

14,282

 

 

 

14,282

 

 

 

0.31

%

 

Home Equity

 

—

 

 

—

 

 

—

 

 

1,147

 

 

 

1,147

 

 

 

0.05

%

 

Automobile

 

8,927

 

 

—

 

 

1,003

 

 

—

 

 

 

9,930

 

 

 

1.23

%

 

Other2

 

957

 

 

—

 

 

148

 

 

—

 

 

 

1,105

 

 

 

0.28

%

 

Total Consumer

 

9,884

 

 

—

 

 

1,151

 

 

15,429

 

 

 

26,464

 

 

 

0.33

%

 

Total Loans and Leases

$

9,908

 

$

—

 

$

5,992

 

$

15,429

 

 

$

31,329

 

 

 

0.23

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and Industrial

$

91

 

$

—

 

$

—

 

$

—

 

 

$

91

 

 

 

0.01

%

 

Commercial Mortgage

 

—

 

 

952

 

 

—

 

 

—

 

 

 

952

 

 

 

0.03

%

 

Total Commercial

 

91

 

 

952

 

 

—

 

 

—

 

 

 

1,043

 

 

 

0.02

%

 

Consumer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Automobile

 

2,654

 

 

—

 

 

—

 

 

—

 

 

 

2,654

 

 

 

0.30

%

 

Other2

 

215

 

 

—

 

 

—

 

 

—

 

 

 

215

 

 

 

0.05

%

 

Total Consumer

 

2,869

 

 

—

 

 

—

 

 

—

 

 

 

2,869

 

 

 

0.03

%

 

Total Loans and Leases

$

2,960

 

$

952

 

$

—

 

$

—

 

 

$

3,912

 

 

 

0.03

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and Industrial

$

91

 

$

—

 

$

6,695

 

$

—

 

 

$

6,786

 

 

 

0.45

%

 

Commercial Mortgage

 

—

 

 

952

 

 

—

 

 

—

 

 

 

952

 

 

 

0.03

%

 

Total Commercial

 

91

 

 

952

 

 

6,695

 

 

—

 

 

 

7,738

 

 

 

0.14

%

 

Consumer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential Mortgage

 

134

 

 

—

 

 

—

 

 

—

 

 

 

134

 

 

 

0.00

%

 

Home Equity

 

139

 

 

—

 

 

—

 

 

—

 

 

 

139

 

 

 

0.01

%

 

Automobile

 

4,411

 

 

—

 

 

—

 

 

—

 

 

 

4,411

 

 

 

0.50

%

 

Other2

 

384

 

 

—

 

 

—

 

 

—

 

 

 

384

 

 

 

0.09

%

 

Total Consumer

 

5,068

 

 

—

 

 

—

 

 

—

 

 

 

5,068

 

 

 

0.06

%

 

Total Loans and Leases

$

5,159

 

$

952

 

$

6,695

 

$

—

 

 

$

12,806

 

 

 

0.09

%

 

 

1.
Includes forbearance plans.
2.
Comprised of other revolving credit, installment and lease financing.

 

The following table presents the financial effect of loan modifications made to borrowers experiencing financial difficulty during the three and six months ended June 30, 2024 and June 30, 2023.

 

 

Weighted-Average

 

 

Weighted-Average

 

 

Weighted-Average

 

 

Months of

 

 

Payment

 

 

Interest Rate

(dollars in thousands)

 

Term Extension

 

 

Deferral1

 

 

Reduction

Three Months Ended June 30, 2024

 

 

 

 

 

 

 

 

 

 

Consumer

 

 

 

 

 

 

 

 

 

 

Home Equity

 

 

—

 

 

$

10

 

 

 

—

 

%

Automobile

 

 

22

 

 

 

2

 

 

 

—

 

Other2

 

 

22

 

 

 

1

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2024

 

 

 

 

 

 

 

 

 

 

Commercial

 

 

 

 

 

 

 

 

 

 

Commercial and Industrial

 

 

12

 

 

$

593

 

 

 

—

 

%

Consumer

 

 

 

 

 

 

 

 

 

 

Residential Mortgage

 

 

—

 

 

 

13

 

 

 

—

 

Home Equity

 

 

—

 

 

 

7

 

 

 

—

 

Automobile

 

 

22

 

 

 

2

 

 

 

—

 

Other2

 

 

20

 

 

 

1

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 2023

 

 

 

 

 

 

 

 

 

 

Commercial

 

 

 

 

 

 

 

 

 

 

Commercial Mortgage

 

 

—

 

 

$

—

 

 

 

2.50

 

%

Consumer

 

 

 

 

 

 

 

 

 

 

Automobile

 

 

23

 

 

 

—

 

 

 

—

 

Other2

 

 

22

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2023

 

 

 

 

 

 

 

 

 

 

Commercial

 

 

 

 

 

 

 

 

 

 

Commercial and Industrial

 

 

6

 

 

$

1,159

 

 

 

—

 

%

Commercial Mortgage

 

 

—

 

 

 

—

 

 

 

2.50

 

Consumer

 

 

 

 

 

 

 

 

 

 

Residential Mortgage

 

 

58

 

 

 

—

 

 

 

—

 

Home Equity

 

 

64

 

 

 

—

 

 

 

—

 

Automobile

 

 

23

 

 

 

—

 

 

 

—

 

Other2

 

 

22

 

 

 

—

 

 

 

—

 

1 Includes forbearance plans.

2 Comprised of other revolving credit, installment and lease financing.

 

 

The following table presents the loan modifications made to borrowers experiencing financial difficulty that defaulted during the three and six months ended June 30, 2024 and June 30, 2023.

 

 

Term

 

 

 

Payment Delay &

 

 

 

 

 

 

(dollars in thousands)

Extension

 

 

 

Term Extension1

 

 

 

 

Total

 

Three Months Ended June 30, 2024

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

 

 

 

 

 

 

 

 

 

 

Commercial and Industrial

$

—

 

 

 

$

34

 

 

 

 

$

34

 

 Total Commercial

 

—

 

 

 

 

34

 

 

 

 

 

34

 

Consumer

 

 

 

 

 

 

 

 

 

 

 

Automobile

 

428

 

 

 

 

11

 

 

 

 

 

439

 

Other2

 

121

 

 

 

 

12

 

 

 

 

 

133

 

 Total Consumer

 

549

 

 

 

 

23

 

 

 

 

 

572

 

Total Loans and Leases

$

549

 

 

 

$

57

 

 

 

 

$

606

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2024

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

 

 

 

 

 

 

 

 

 

 

Commercial and Industrial

$

—

 

 

 

$

34

 

 

 

 

$

34

 

 Total Commercial

 

—

 

 

 

 

34

 

 

 

 

 

34

 

Consumer

 

 

 

 

 

 

 

 

 

 

 

Automobile

 

668

 

 

 

 

11

 

 

 

 

 

679

 

Other2

 

172

 

 

 

 

12

 

 

 

 

 

184

 

 Total Consumer

 

840

 

 

 

 

23

 

 

 

 

 

863

 

Total Loans and Leases

$

840

 

 

 

$

57

 

 

 

 

$

897

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 2023

 

 

 

 

 

 

 

 

 

 

 

Consumer

 

 

 

 

 

 

 

 

 

 

 

Automobile

$

23

 

 

 

$

—

 

 

 

 

 

23

 

Other2

 

15

 

 

 

 

—

 

 

 

 

 

15

 

 Total Consumer

 

38

 

 

 

 

—

 

 

 

 

 

38

 

Total Loans and Leases3

$

38

 

 

 

$

—

 

 

 

 

$

38

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2023

 

 

 

 

 

 

 

 

 

 

 

Consumer

 

 

 

 

 

 

 

 

 

 

 

Automobile

$

23

 

 

 

$

—

 

 

 

 

 

23

 

Other2

 

15

 

 

 

 

—

 

 

 

 

 

15

 

 Total Consumer

 

38

 

 

 

 

—

 

 

 

 

 

38

 

Total Loans and Leases3

$

38

 

 

 

$

—

 

 

 

 

$

38

 

 

1.
Includes forbearance plans.
2.
Comprised of other revolving credit, installment, and lease financing.
3.
The amounts presented in the total column have been updated to properly reflect the total modifications during the period.

 

 

The following table presents the aging analysis of loan modifications made to borrowers experiencing financial difficulty as of June 30, 2024 and June 30, 2023.

 

(dollars in thousands)

 

Current

 

 

30 - 59
Days
Past Due

 

 

60 - 89
Days
Past Due

 

 

Past Due
90 Days
or More

 

 

Non-
Accrual

 

 

Total

 

As of June 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and Industrial

 

$

4,865

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

4,865

 

 Total Commercial

 

 

4,865

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

4,865

 

Consumer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential Mortgage

 

 

14,282

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

14,282

 

Home Equity

 

 

1,147

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,147

 

Automobile

 

 

8,887

 

 

 

998

 

 

 

46

 

 

 

—

 

 

 

—

 

 

 

9,931

 

Other1

 

 

1,013

 

 

 

43

 

 

 

29

 

 

 

19

 

 

 

—

 

 

 

1,104

 

 Total Consumer

 

 

25,329

 

 

 

1,041

 

 

 

75

 

 

 

19

 

 

 

—

 

 

 

26,464

 

Total Loans and Leases

 

$

30,194

 

 

$

1,041

 

 

$

75

 

 

$

19

 

 

$

—

 

 

$

31,329

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of June 30, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and Industrial

 

$

6,786

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

6,786

 

Commercial Mortgage

 

 

952

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

952

 

 Total Commercial

 

 

7,738

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

7,738

 

Consumer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential Mortgage

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

134

 

 

 

134

 

Home Equity

 

 

139

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

139

 

Automobile

 

 

4,061

 

 

 

327

 

 

 

—

 

 

 

23

 

 

 

—

 

 

 

4,411

 

Other1

 

 

333

 

 

 

36

 

 

 

15

 

 

 

—

 

 

 

—

 

 

 

384

 

 Total Consumer

 

 

4,533

 

 

 

363

 

 

 

15

 

 

 

23

 

 

 

134

 

 

 

5,068

 

Total Loans and Leases

 

$

12,271

 

 

$

363

 

 

$

15

 

 

$

23

 

 

$

134

 

 

$

12,806

 

 

1.
Comprised of other revolving credit, installment, and lease financing.

 

The following table presents by loan class and year of origination, the gross charge-offs recorded during the three and six months ended June 30, 2024 and June 30, 2023.

 

(dollars in thousands)

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Total

 

Three Months Ended June 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and Industrial

$

113

 

 

$

—

 

 

$

—

 

 

$

663

 

 

$

—

 

 

$

99

 

 

$

875

 

Total Commercial

 

113

 

 

 

—

 

 

 

—

 

 

 

663

 

 

 

—

 

 

 

99

 

 

 

875

 

Consumer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential Mortgage

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

48

 

 

 

48

 

Home Equity

 

—

 

 

 

150

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

52

 

 

 

202

 

Automobile

 

—

 

 

 

314

 

 

 

274

 

 

 

257

 

 

 

61

 

 

 

189

 

 

 

1,095

 

Other1

 

333

 

 

 

468

 

 

 

851

 

 

 

470

 

 

 

65

 

 

 

423

 

 

 

2,610

 

Total Consumer

 

333

 

 

 

932

 

 

 

1,125

 

 

 

727

 

 

 

126

 

 

 

712

 

 

 

3,955

 

Total

$

446

 

 

$

932

 

 

$

1,125

 

 

$

1,390

 

 

$

126

 

 

$

811

 

 

$

4,830

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and Industrial

$

113

 

 

$

281

 

 

$

—

 

 

$

664

 

 

$

—

 

 

$

177

 

 

$

1,235

 

Total Commercial

 

113

 

 

 

281

 

 

 

—

 

 

 

664

 

 

 

—

 

 

 

177

 

 

 

1,235

 

Consumer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential Mortgage

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

48

 

 

 

48

 

Home Equity

 

—

 

 

 

150

 

 

 

35

 

 

 

—

 

 

 

—

 

 

 

52

 

 

 

237

 

Automobile

 

—

 

 

 

578

 

 

 

637

 

 

 

376

 

 

 

115

 

 

 

437

 

 

 

2,143

 

Other 1

 

333

 

 

 

1,137

 

 

 

1,504

 

 

 

917

 

 

 

182

 

 

 

849

 

 

 

4,922

 

Total Consumer

 

333

 

 

 

1,865

 

 

 

2,176

 

 

 

1,293

 

 

 

297

 

 

 

1,386

 

 

 

7,350

 

Total

$

446

 

 

$

2,146

 

 

$

2,176

 

 

$

1,957

 

 

$

297

 

 

$

1,563

 

 

$

8,585

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(dollars in thousands)

2023

 

 

2022

 

 

2021

 

 

2020

 

 

2019

 

 

Prior

 

 

Total

 

Three Months Ended June 30, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and Industrial

$

185

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

18

 

 

$

203

 

Total Commercial

 

185

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

18

 

 

 

203

 

Consumer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential Mortgage

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

6

 

 

 

6

 

Home Equity

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

5

 

 

 

5

 

Automobile

 

—

 

 

 

558

 

 

 

238

 

 

 

107

 

 

 

173

 

 

 

217

 

 

 

1,293

 

Other1

 

358

 

 

 

512

 

 

 

446

 

 

 

82

 

 

 

318

 

 

 

288

 

 

 

2,004

 

Total Consumer

 

358

 

 

 

1,070

 

 

 

684

 

 

 

189

 

 

 

491

 

 

 

516

 

 

 

3,308

 

Total

$

543

 

 

$

1,070

 

 

$

684

 

 

$

189

 

 

$

491

 

 

$

534

 

 

$

3,511

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and Industrial

$

185

 

 

$

188

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

91

 

 

$

464

 

Total Commercial

 

185

 

 

 

188

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

91

 

 

 

464

 

Consumer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential Mortgage

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

6

 

 

 

6

 

Home Equity

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

55

 

 

 

55

 

Automobile

 

—

 

 

 

872

 

 

 

745

 

 

 

335

 

 

 

364

 

 

 

640

 

 

 

2,956

 

Other 1

 

358

 

 

 

1,333

 

 

 

1,011

 

 

 

202

 

 

 

713

 

 

 

722

 

 

 

4,339

 

Total Consumer

 

358

 

 

 

2,205

 

 

 

1,756

 

 

 

537

 

 

 

1,077

 

 

 

1,423

 

 

 

7,356

 

Total

$

543

 

 

$

2,393

 

 

$

1,756

 

 

$

537

 

 

$

1,077

 

 

$

1,514

 

 

$

7,820

 

 

1.
Comprised of other revolving credit, installment, and lease financing.

Foreclosure Proceedings

Consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure totaled $4.1 million as of June 30, 2024.