Loans and Leases and the Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2021

Loans And Leases And Allowance For Loan And Lease Losses [Abstract]

The Company’s loan and lease portfolio was comprised of the following as of March 31, 2021, and December 31, 2020:

(dollars in thousands)	March 31, 2021		December 31, 2020
Commercial
Commercial and Industrial	$	2,013,981	$	1,875,293
Commercial Mortgage		2,859,246		2,854,829
Construction		281,164		259,798
Lease Financing		104,980		110,766
Total Commercial		5,259,371		5,100,686
Consumer
Residential Mortgage		4,216,976		4,130,513
Home Equity		1,577,500		1,604,538
Automobile		710,407		708,800
Other ¹		376,449		395,483
Total Consumer		6,881,332		6,839,334
Total Loans and Leases	$	12,140,703	$	11,940,020

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

Schedule of Activity in Allowance by Portfolio Segment

The following presents by portfolio segment, the activity in the Allowance for the three months ended March 31, 2021, and March 31, 2020.

(dollars in thousands)	Commercial			Consumer			Total
Three Months Ended March 31, 2021
Allowance for Credit Losses:
Balance at Beginning of Period (December 31, 2020)	$	84,847		$	131,405		$	216,252
Loans and Leases Charged-Off		(248	)		(6,043	)		(6,291	)
Recoveries on Loans and Leases Previously Charged-Off		112			3,263			3,375
Net Loans and Leases Recovered (Charged-Off)		(136	)		(2,780	)		(2,916	)
Provision for Credit Losses		(1,900	)		(13,093	)		(14,993	)
Balance at End of Period	$	82,811		$	115,532		$	198,343
Three Months Ended March 31, 2020
Allowance for Credit Losses:
Balance at Beginning of Period (December 31, 2020)	$	73,801		$	36,226		$	110,027
CECL Adoption (Day 1) Impact		(18,789	)		17,052			(1,737	)
Balance at Beginning of Period (January 1, 2020)		55,012			53,278			108,290
Loans and Leases Charged-Off		(693	)		(6,484	)		(7,177	)
Recoveries on Loans and Leases Previously Charged-Off		329			3,108			3,437
Net Loans and Leases Recovered (Charged-Off)		(364	)		(3,376	)		(3,740	)
Provision for Credit Losses		13,339			20,261			33,600
Balance at End of Period	$	67,987		$	70,163		$	138,150

Schedule of Recorded Investment in Loans and Leases by Class and Credit Quality Indicator

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 March 31, 2021.

		Term Loans by Origination Year
(dollars in thousands)	YTD March 31, 2021			2020		2019		2018		2017		Prior		Revolving Loans		Revolving Loans Converted to Term Loans		Total Loans and Leases
March 31, 2021
Commercial
Commercial and Industrial
Pass		$	338,648	$	868,969	$	116,796	$	116,999	$	42,553	$	106,466	$	295,977	$	720	$	1,887,128
Special Mention			88		32,548		2,040		-		-		364		27,586		40		62,666
Classified			270		8,477		107		13,656		711		18,864		22,011		91		64,187
Total Commercial and Industrial		$	339,006	$	909,994	$	118,943	$	130,655	$	43,264	$	125,694	$	345,574	$	851	$	2,013,981
Commercial Mortgage
Pass		$	150,533	$	830,847	$	409,973	$	340,907	$	224,916	$	651,705	$	73,919	$	-	$	2,682,800
Special Mention			2,101		87,109		28,340		3,073		7,100		18,364		-		-		146,087
Classified			858		15,883		651		-		272		12,695		-		-		30,359
Total Commercial Mortgage		$	153,492	$	933,839	$	438,964	$	343,980	$	232,288	$	682,764	$	73,919	$	-	$	2,859,246
Construction
Pass		$	44,556	$	106,654	$	89,590	$	11,272	$	894	$	-	$	28,198	$	-	$	281,164
Total Construction		$	44,556	$	106,654	$	89,590	$	11,272	$	894	$	-	$	28,198	$	-	$	281,164
Lease Financing
Pass		$	4,324	$	19,212	$	19,450	$	12,764	$	3,441	$	44,528	$	-	$	-	$	103,719
Special Mention			-		31		47		92		36		78		-		-		284
Classified			-		-		16		961		-		-		-		-		977
Total Lease Financing		$	4,324	$	19,243	$	19,513	$	13,817	$	3,477	$	44,606	$	-	$	-	$	104,980
Total Commercial		$	541,378	$	1,969,730	$	667,010	$	499,724	$	279,923	$	853,064	$	447,691	$	851	$	5,259,371
Consumer
Residential Mortgage
Pass		$	461,424	$	1,258,849	$	507,084	$	259,764	$	401,540	$	1,325,854	$	-	$	-	$	4,214,515
Classified			-		-		294		403		913		851		-		-		2,461
Total Residential Mortgage		$	461,424	$	1,258,849	$	507,378	$	260,167	$	402,453	$	1,326,705	$	-	$	-	$	4,216,976
Home Equity
Pass		$	-	$	-	$	-	$	-	$	-	$	4,233	$	1,531,403	$	35,016	$	1,570,652
Classified			-		-		-		-		-		74		5,640		1,134		6,848
Total Home Equity		$	-	$	-	$	-	$	-	$	-	$	4,307	$	1,537,043	$	36,150	$	1,577,500
Automobile
Pass		$	78,416	$	198,814	$	194,351	$	140,735	$	58,966	$	38,521	$	-	$	-	$	709,803
Classified			-		142		128		112		122		100		-		-		604
Total Automobile		$	78,416	$	198,956	$	194,479	$	140,847	$	59,088	$	38,621	$	-	$	-	$	710,407
Other¹
Pass		$	23,146	$	65,620	$	132,730	$	81,022	$	32,567	$	9,534	$	29,581	$	1,421	$	375,621
Classified			-		149		294		218		72		30		60		5		828
Total Other		$	23,146	$	65,769	$	133,024	$	81,240	$	32,639	$	9,564	$	29,641	$	1,426	$	376,449
Total Consumer		$	562,986	$	1,523,574	$	834,881	$	482,254	$	494,180	$	1,379,197	$	1,566,684	$	37,576	$	6,881,332
Total Loans and Leases		$	1,104,364	$	3,493,304	$	1,501,891	$	981,978	$	774,103	$	2,232,261	$	2,014,375	$	38,427	$	12,140,703

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

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, 2020.

		Term Loans by Origination Year
(dollars in thousands)	2020			2019		2018		2017		2016		Prior		Revolving Loans		Revolving Loans Converted to Term Loans		Total Loans and Leases
December 31, 2020
Commercial
Commercial and Industrial
Pass		$	944,463	$	149,024	$	149,468	$	49,385	$	52,354	$	68,269	$	342,339	$	847	$	1,756,149
Special Mention			11,702		42		-		-		110		95		32,319		52		44,320
Classified			32,208		1,734		2,266		777		19		19,166		18,529		125		74,824
Total Commercial and Industrial		$	988,373	$	150,800	$	151,734	$	50,162	$	52,483	$	87,530	$	393,187	$	1,024	$	1,875,293
Commercial Mortgage
Pass		$	847,676	$	458,472	$	350,363	$	245,157	$	267,860	$	425,157	$	76,869	$	-	$	2,671,554
Special Mention			66,523		28,418		291		7,117		8,665		5,035		-		-		116,049
Classified			49,640		655		2,783		274		4,742		9,132		-		-		67,226
Total Commercial Mortgage		$	963,839	$	487,545	$	353,437	$	252,548	$	281,267	$	439,324	$	76,869	$	-	$	2,854,829
Construction
Pass		$	106,508	$	105,731	$	11,275	$	8,133	$	-	$	-	$	28,151	$	-	$	259,798
Total Construction		$	106,508	$	105,731	$	11,275	$	8,133	$	-	$	-	$	28,151	$	-	$	259,798
Lease Financing
Pass		$	19,906	$	20,132	$	13,785	$	4,202	$	9,657	$	41,755	$	-	$	-	$	109,437
Classified			33		67		1,092		42		95		-		-		-		1,329
Total Lease Financing		$	19,939	$	20,199	$	14,877	$	4,244	$	9,752	$	41,755	$	-	$	-	$	110,766
Total Commercial		$	2,078,659	$	764,275	$	531,323	$	315,087	$	343,502	$	568,609	$	498,207	$	1,024	$	5,100,686
Consumer
Residential Mortgage
Pass		$	1,300,831	$	576,452	$	295,522	$	454,165	$	545,798	$	954,120	$	-	$	-	$	4,126,888
Classified			-		294		-		1,032		-		2,299		-		-		3,625
Total Residential Mortgage		$	1,300,831	$	576,746	$	295,522	$	455,197	$	545,798	$	956,419	$	-	$	-	$	4,130,513
Home Equity
Pass		$	-	$	-	$	-	$	-	$	-	$	4,449	$	1,556,671	$	37,559	$	1,598,679
Classified			-		-		-		-		-		88		4,693		1,078		5,859
Total Home Equity		$	-	$	-	$	-	$	-	$	-	$	4,537	$	1,561,364	$	38,637	$	1,604,538
Automobile
Pass		$	219,218	$	213,914	$	158,216	$	68,776	$	33,899	$	13,850	$	-	$	-	$	707,873
Classified			101		245		171		113		161		136		-		-		927
Total Automobile		$	219,319	$	214,159	$	158,387	$	68,889	$	34,060	$	13,986	$	-	$	-	$	708,800
Other¹
Pass		$	71,042	$	145,549	$	92,993	$	39,770	$	9,225	$	2,189	$	32,070	$	1,485	$	394,323
Classified			51		419		375		167		42		21		85		-		1,160
Total Other		$	71,093	$	145,968	$	93,368	$	39,937	$	9,267	$	2,210	$	32,155	$	1,485	$	395,483
Total Consumer		$	1,591,243	$	936,873	$	547,277	$	564,023	$	589,125	$	977,152	$	1,593,519	$	40,122	$	6,839,334
Total Loans and Leases		$	3,669,902	$	1,701,148	$	1,078,600	$	879,110	$	932,627	$	1,545,761	$	2,091,726	$	41,146	$	11,940,020

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

Schedule of Aging Analysis by Class of Loan and Lease Portfolio

The following presents by class, an aging analysis of the Company’s loan and lease portfolio as of March 31, 2021, and December 31, 2020.

(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 March 31, 2021
Commercial
Commercial and Industrial	$	3,398	$	70	$	9	$	293	$	3,770	$	2,010,211	$	2,013,981	$	257
Commercial Mortgage		—		—		—		8,503		8,503		2,850,743		2,859,246		4,959
Construction		—		—		—		—		—		281,164		281,164		—
Lease Financing		—		—		—		—		—		104,980		104,980		—
Total Commercial		3,398		70		9		8,796		12,273		5,247,098		5,259,371		5,216
Consumer
Residential Mortgage		3,510		3,111		4,069		1,804		12,494		4,204,482		4,216,976		404
Home Equity		4,568		2,328		4,906		4,951		16,753		1,560,747		1,577,500		882
Automobile		5,422		1,157		604		—		7,183		703,224		710,407		—
Other ¹		4,650		1,237		828		—		6,715		369,734		376,449		—
Total Consumer		18,150		7,833		10,407		6,755		43,145		6,838,187		6,881,332		1,286
Total	$	21,548	$	7,903	$	10,416	$	15,551	$	55,418	$	12,085,285	$	12,140,703	$	6,502

As of December 31, 2020
Commercial
Commercial and Industrial	$	191	$	59	$	—	$	441	$	691	$	1,874,602	$	1,875,293	$	285
Commercial Mortgage		—		—		—		8,527		8,527		2,846,302		2,854,829		4,983
Construction		—		—		—		—		—		259,798		259,798		—
Lease Financing		—		—		—		—		—		110,766		110,766		—
Total Commercial		191		59		—		8,968		9,218		5,091,468		5,100,686		5,268
Consumer
Residential Mortgage		4,049		2,083		5,274		3,223		14,629		4,115,884		4,130,513		2,100
Home Equity		3,423		3,378		3,187		3,958		13,946		1,590,592		1,604,538		987
Automobile		6,358		2,215		925		—		9,498		699,302		708,800		—
Other ¹		2,556		1,612		1,160		—		5,328		390,155		395,483		—
Total Consumer		16,386		9,288		10,546		7,181		43,401		6,795,933		6,839,334		3,087
Total	$	16,577	$	9,347	$	10,546	$	16,149	$	52,619	$	11,887,401	$	11,940,020	$	8,355

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.

Schedule of Non-Accrual Loans and Leases

The following presents the non-accrual loans and leases as of March 31, 2021, and December 31, 2020.

	March 31, 2021						December 31, 2020
(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	$	293	$	—	$	293	$	441	$	—	$	441
Commercial Mortgage		8,503		—		8,503		8,527		—		8,527
Total Commercial		8,796		—		8,796		8,968		—		8,968
Consumer
Residential Mortgage		1,679		125		1,804		3,096		127		3,223
Home Equity		4,951		—		4,951		3,958		—		3,958
Total Consumer		6,630		125		6,755		7,054		127		7,181
Total	$	15,426	$	125	$	15,551	$	16,022	$	127	$	16,149

Schedule of Loans Modified in TDR and TDRs that Defaulted During the Period Within 12 months of Modification Date

The following presents by class, information related to loans modified in a TDR during the three months ended March 31, 2021, and March 31, 2020.

	Loans Modified as a TDR for the Three Months Ended March 31, 2021						Loans Modified as a TDR for the Three Months Ended March 31, 2020
			Recorded		Increase in				Recorded		Increase in
Troubled Debt Restructurings			Investment		Allowance				Investment		Allowance
(dollars in thousands)	Number of Contracts		(as of period end)¹		(as of period end)		Number of Contracts		(as of period end)¹		(as of period end)
Commercial
Commercial and Industrial		5	$	112	$	1		2	$	99	$	2
Total Commercial		5		112		1		2		99		2
Consumer
Home Equity		1		52		4		—		—		—
Automobile		394		8,287		115		52		893		14
Other ²		214		1,965		79		31		240		10
Total Consumer		609		10,304		198		83		1,133		24
Total		614	$	10,416	$	199		85	$	1,232	$	26

¹	The period end balances reflect all paydowns and charge-offs since the modification date. TDRs fully paid-off, charged-off, or foreclosed upon by period end are not included.

²	Comprised of other revolving credit and installment financing.

The following presents by class, all loans modified in a TDR that defaulted during the three months ended March 31, 2021, and March 31, 2020, and within twelve months of their modification date. A TDR is considered to be in default once it becomes 60 days or more past due following a modification.

	Three Months Ended March 31, 2021				Three Months Ended March 31, 2020
TDRs that Defaulted During the Period,			Recorded				Recorded
Within Twelve Months of their Modification Date	Number of		Investment		Number of		Investment
(dollars in thousands)	Contracts		(as of period end)¹		Contracts		(as of period end)¹
Consumer
Automobile		18	$	281		18	$	176
Other ²		4		27		5		50
Total Consumer		22		308		23		226
Total		22	$	308		23	$	226

¹	The period end balances reflect all paydowns and charge-offs since the modification date. TDRs fully paid-off, charged-off, or foreclosed upon by period end are not included.

²	Comprised of other revolving credit and installment financing.