XML 36 R24.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables)
3 Months Ended
Mar. 31, 2024
LOANS AND ALLOWANCE FOR CREDIT LOSSES  
Schedule of segments of the company's loan portfolio

March 31, 

December 31, 

(000’s omitted)

    

2024

    

2023

CRE – multifamily

$

658,278

$

619,794

CRE – owner occupied

777,302

752,774

CRE – non-owner occupied

1,750,038

1,711,198

Commercial & industrial and other business loans

1,034,581

1,000,630

Consumer mortgage

 

3,317,467

 

3,285,018

Consumer indirect

 

1,716,028

 

1,703,440

Consumer direct

 

183,750

 

185,229

Home equity

 

446,056

 

446,515

Gross loans, including deferred origination costs

 

9,883,500

 

9,704,598

Allowance for credit losses

 

(70,091)

 

(66,669)

Loans, net of allowance for credit losses

$

9,813,409

$

9,637,929

Schedule of aging of the amortized cost basis

The following table presents the aging of the amortized cost basis of the Company’s past due loans by segment as of March 31, 2024 and December 31, 2023:

Past Due

90+ Days Past

(000’s omitted)

30 – 89

Due and

Total

March 31, 2024

    

Days

    

Still Accruing

    

Nonaccrual

    

Past Due

    

Current

    

Total Loans

CRE – multifamily

$

0

$

0

$

0

$

0

$

658,278

$

658,278

CRE – owner occupied

 

1,602

 

0

 

1,536

 

3,138

 

774,164

 

777,302

CRE – non-owner occupied

247

0

13,368

13,615

1,736,423

1,750,038

Commercial & industrial and other business loans

1,402

0

647

2,049

1,032,532

1,034,581

Consumer mortgage

17,265

3,115

27,066

47,446

3,270,021

3,317,467

Consumer indirect

 

16,604

 

865

 

0

 

17,469

 

1,698,559

 

1,716,028

Consumer direct

 

1,163

 

72

 

21

 

1,256

 

182,494

 

183,750

Home equity

 

3,848

 

502

 

2,266

 

6,616

 

439,440

 

446,056

Total

$

42,131

$

4,554

$

44,904

$

91,589

$

9,791,911

$

9,883,500

Past Due

90+ Days Past

(000’s omitted)

30 – 89

Due and

Total

December 31, 2023

    

Days

    

Still Accruing

    

Nonaccrual

    

Past Due

    

Current

    

Total Loans

CRE – multifamily

$

0

$

0

$

0

$

0

$

619,794

$

619,794

CRE – owner occupied

1,477

0

1,953

3,430

749,344

752,774

CRE – non-owner occupied

2,311

0

17,964

20,275

1,690,923

1,711,198

Commercial & industrial and other business loans

880

0

336

1,216

999,414

1,000,630

Consumer mortgage

 

18,434

 

4,559

 

26,043

 

49,036

 

3,235,982

 

3,285,018

Consumer indirect

 

20,215

 

776

 

0

 

20,991

 

1,682,449

 

1,703,440

Consumer direct

 

1,579

 

135

 

23

 

1,737

 

183,492

 

185,229

Home equity

 

3,546

 

416

 

2,368

 

6,330

 

440,185

 

446,515

Total

$

48,442

$

5,886

$

48,687

$

103,015

$

9,601,583

$

9,704,598

Schedule of individually assessed loans

    

March 31, 

    

December 31, 

(000’s omitted)

    

2024

    

2023

Loans with allowance allocation

$

10,189

$

3,484

Loans without allowance allocation

 

4,322

 

15,750

Carrying balance

 

14,511

 

19,234

Contractual balance

 

14,645

 

19,249

Specifically allocated allowance

 

965

 

470

Schedule of allowance for loan losses by class

The following presents by loan segment the activity in the allowance for credit losses during the three months ended March 31, 2024 and 2023:

Three Months Ended March 31, 2024

Beginning

Charge-

Ending

(000’s omitted)

    

balance

    

offs

    

Recoveries

    

Provision

    

balance

Business lending

$

26,854

$

(261)

$

39

$

2,739

$

29,371

Consumer mortgage

 

15,333

 

(93)

 

3

 

(753)

 

14,490

Consumer indirect

 

18,585

 

(3,060)

 

1,209

 

3,560

 

20,294

Consumer direct

 

3,269

 

(873)

 

215

 

744

 

3,355

Home equity

 

1,628

 

(23)

 

3

 

(27)

 

1,581

Unallocated

 

1,000

 

0

 

0

 

0

 

1,000

Allowance for credit losses – loans

 

66,669

 

(4,310)

 

1,469

 

6,263

 

70,091

Liabilities for off-balance-sheet credit exposures

 

913

 

0

 

0

 

(115)

 

798

Total allowance for credit losses

$

67,582

$

(4,310)

$

1,469

$

6,148

$

70,889

    

Three Months Ended March 31, 2023

Beginning

Charge-

Ending

(000’s omitted)

   

 balance

   

offs

   

Recoveries

   

Provision

   

 balance

Business lending

$

23,297

$

(175)

$

172

$

1,933

$

25,227

Consumer mortgage

14,343

(19)

7

(53)

14,278

Consumer indirect

 

17,852

 

(2,531)

 

1,347

 

1,379

 

18,047

Consumer direct

 

2,973

 

(505)

 

187

 

375

 

3,030

Home equity

 

1,594

 

0

 

6

 

(12)

 

1,588

Unallocated

 

1,000

 

0

 

0

 

0

 

1,000

Allowance for credit losses – loans

 

61,059

 

(3,230)

 

1,719

 

3,622

 

63,170

Liabilities for off-balance-sheet credit exposures

 

1,123

 

0

 

0

 

(122)

 

1,001

Total allowance for credit losses

$

62,182

$

(3,230)

$

1,719

$

3,500

$

64,171

Schedule of amortized cost basis of each class of financing receivable

Three Months Ended

 

March 31, 2024

 

Total Class of

 

Term

Financing

 

(000s omitted except for percentages)

    

Extension

    

Receivable

 

CRE – owner occupied

$

353

 

0.05

%

CRE – non-owner occupied

224

0.01

%

Commercial & industrial and other business loans

108

0.00

%

Total

$

685

 

0.01

%

Schedule of performance of modified loans

March 31, 2024

90+ Days Past

Past Due 30 –

Due and Still

Non-

(000s omitted)

    

Current

    

89 Days

    

Accruing

    

Accrual

    

Total

CRE – owner occupied

$

1,686

$

0

$

0

$

0

$

1,686

CRE – non-owner occupied

886

0

0

0

886

Commercial & industrial and other business loans

108

0

0

0

108

Consumer mortgage

 

0

 

0

 

0

 

279

 

279

Home equity

 

31

 

0

 

0

 

0

 

31

Total

$

2,711

$

0

$

0

$

279

$

2,990

Schedule of finance receivable modified past due

Three Months Ended

March 31, 2024

Weighted-Average

    

Term Extension (Years)

CRE – owner occupied

 

1.7

CRE – non-owner occupied

 

8.5

Commercial & industrial and other business loans

 

3.8

Total

 

4.2

Business lending  
LOANS AND ALLOWANCE FOR CREDIT LOSSES  
Schedule of loans by credit quality indicator

Revolving

Revolving

Loans

Loans

(000’s omitted)

Term Loans Amortized Cost Basis by Origination Year

Amortized

Converted

March 31, 2024

    

2024

    

2023

    

2022

    

2021

    

2020

    

Prior

    

Cost Basis

    

to Term

    

Total

CRE – multifamily:

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Risk rating

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Pass

$

4,033

$

90,550

$

145,314

$

54,120

$

19,298

$

148,210

$

27,281

$

120,765

$

609,571

Special mention

 

0

 

13,175

 

7,298

 

0

 

64

 

5,322

 

0

8,258

 

34,117

Substandard

 

0

 

0

 

0

 

504

 

0

 

1,825

 

149

12,112

 

14,590

Doubtful

 

0

 

0

 

0

 

0

 

0

 

0

 

0

0

 

0

Total CRE – multifamily

$

4,033

$

103,725

$

152,612

$

54,624

$

19,362

$

155,357

$

27,430

$

141,135

$

658,278

Current period gross charge-offs

$

0

$

0

$

0

$

0

$

0

$

0

$

0

$

0

$

0

CRE – owner occupied:

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

Pass

$

24,861

$

57,943

$

86,027

$

56,267

$

45,668

$

262,877

$

27,624

$

172,799

$

734,066

Special mention

 

0

 

3,193

 

2,328

 

2,130

 

627

 

13,392

 

706

2,797

 

25,173

Substandard

 

0

 

874

 

2,672

 

895

 

1,496

 

6,890

 

367

4,869

 

18,063

Doubtful

 

0

 

0

 

0

 

0

 

0

 

0

 

0

0

 

0

Total CRE – owner occupied

$

24,861

$

62,010

$

91,027

$

59,292

$

47,791

$

283,159

$

28,697

$

180,465

$

777,302

Current period gross charge-offs

$

0

$

0

$

0

$

0

$

0

$

0

$

0

$

0

$

0

CRE – non-owner occupied:

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

Pass

$

46,146

$

142,425

$

253,828

$

109,985

$

85,180

$

321,511

$

393,412

$

268,762

$

1,621,249

Special mention

 

160

 

41

 

819

 

15,879

 

1,292

 

31,513

 

18,976

5,781

 

74,461

Substandard

 

0

 

947

 

135

 

157

 

303

 

24,366

 

100

27,354

 

53,362

Doubtful

 

0

 

0

 

0

 

966

 

0

 

0

 

0

0

 

966

Total CRE – non-owner occupied

$

46,306

$

143,413

$

254,782

$

126,987

$

86,775

$

377,390

$

412,488

$

301,897

$

1,750,038

Current period gross charge-offs

$

0

$

0

$

0

$

0

$

0

$

0

$

0

$

0

$

0

Commercial & industrial and other business loans:

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

Pass

$

49,198

$

127,095

$

126,984

$

85,922

$

31,062

$

126,058

$

361,048

$

58,138

$

965,505

Special mention

 

579

 

14,812

 

2,134

 

2,101

 

1,412

 

4,416

 

16,650

2,250

 

44,354

Substandard

 

14

 

36

 

944

 

597

 

392

 

912

 

15,766

6,061

 

24,722

Doubtful

 

0

 

0

 

0

 

0

 

0

 

0

 

0

0

 

0

Total commercial & industrial and other business loans

$

49,791

$

141,943

$

130,062

$

88,620

$

32,866

$

131,386

$

393,464

$

66,449

$

1,034,581

Current period gross charge-offs

$

0

$

64

$

0

$

0

$

0

$

0

$

195

$

2

$

261

Total business lending:

 

 

 

 

 

 

 

 

Risk rating

 

 

 

 

 

 

 

 

Pass

$

124,238

$

418,013

$

612,153

$

306,294

$

181,208

$

858,656

$

809,365

$

620,464

$

3,930,391

Special mention

 

739

 

31,221

 

12,579

 

20,110

 

3,395

 

54,643

 

36,332

19,086

 

178,105

Substandard

 

14

 

1,857

 

3,751

 

2,153

 

2,191

 

33,993

 

16,382

50,396

 

110,737

Doubtful

 

0

 

0

 

0

 

966

 

0

 

0

 

0

0

 

966

Total business lending

$

124,991

$

451,091

$

628,483

$

329,523

$

186,794

$

947,292

$

862,079

$

689,946

$

4,220,199

Current period gross charge-offs

$

0

$

64

$

0

$

0

$

0

$

0

$

195

$

2

$

261

Revolving

Revolving

Loans

Loans

(000’s omitted)

Term Loans Amortized Cost Basis by Origination Year

Amortized

Converted

December 31, 2023

    

2023

    

2022

    

2021

    

2020

    

2019

    

Prior

    

Cost Basis

    

to Term

    

Total

CRE – multifamily:

Risk rating

Pass

$

90,888

$

145,337

$

52,058

$

19,982

$

41,992

$

112,287

$

3,237

$

106,580

$

572,361

Special mention

 

13,175

 

7,317

 

0

 

65

 

0

 

3,522

 

0

8,289

 

32,368

Substandard

 

0

 

959

 

0

 

0

 

551

 

1,293

 

150

12,112

 

15,065

Doubtful

 

0

 

0

 

0

 

0

 

0

 

0

 

0

0

 

0

Total CRE – multifamily

$

104,063

$

153,613

$

52,058

$

20,047

$

42,543

$

117,102

$

3,387

$

126,981

$

619,794

Current period gross charge-offs

$

0

$

0

$

0

$

0

$

0

$

0

$

0

$

0

$

0

CRE – owner occupied:

Risk rating

Pass

$

58,544

$

89,616

$

58,798

$

46,465

$

80,361

$

192,345

$

28,023

$

158,652

$

712,804

Special mention

 

3,258

 

2,384

 

649

 

639

 

1,472

 

11,962

 

743

6,064

 

27,171

Substandard

 

880

 

108

 

922

 

1,480

 

514

 

7,531

 

941

423

 

12,799

Doubtful

 

0

 

0

 

0

 

0

 

0

 

0

 

0

0

 

0

Total CRE – owner occupied

$

62,682

$

92,108

$

60,369

$

48,584

$

82,347

$

211,838

$

29,707

$

165,139

$

752,774

Current period gross charge-offs

$

0

$

0

$

0

$

0

$

0

$

0

$

19

$

0

$

19

CRE – non-owner occupied:

Risk rating

Pass

$

143,106

$

255,699

$

111,306

$

86,560

$

60,646

$

275,458

$

387,559

$

265,348

$

1,585,682

Special mention

 

42

 

827

 

16,109

 

1,311

 

109

 

29,648

 

18,806

3,506

 

70,358

Substandard

 

947

 

136

 

1,123

 

2,996

 

1,248

 

20,578

 

100

27,542

 

54,670

Doubtful

 

0

 

0

 

0

 

488

 

0

 

0

 

0

0

 

488

Total CRE – non-owner occupied

$

144,095

$

256,662

$

128,538

$

91,355

$

62,003

$

325,684

$

406,465

$

296,396

$

1,711,198

Current period gross charge-offs

$

0

$

0

$

0

$

0

$

0

$

0

$

0

$

0

$

0

Commercial & industrial and other business loans:

Risk rating

Pass

$

146,627

$

133,529

$

94,764

$

34,572

$

34,714

$

99,525

$

337,388

$

55,222

$

936,341

Special mention

 

15,306

 

2,071

 

1,491

 

1,557

 

2,553

 

1,854

 

16,341

8,045

 

49,218

Substandard

 

38

 

800

 

558

 

477

 

323

 

1,305

 

10,800

770

 

15,071

Doubtful

 

0

 

0

 

0

 

0

 

0

 

0

 

0

0

 

0

Total commercial & industrial and other business loans

$

161,971

$

136,400

$

96,813

$

36,606

$

37,590

$

102,684

$

364,529

$

64,037

$

1,000,630

Current period gross charge-offs

$

0

$

160

$

0

$

0

$

0

$

36

$

569

$

0

$

765

Total business lending:

Risk rating

Pass

$

439,165

$

624,181

$

316,926

$

187,579

$

217,713

$

679,615

$

756,207

$

585,802

$

3,807,188

Special mention

 

31,781

 

12,599

 

18,249

 

3,572

 

4,134

 

46,986

 

35,890

25,904

 

179,115

Substandard

 

1,865

 

2,003

 

2,603

 

4,953

 

2,636

 

30,707

 

11,991

40,847

 

97,605

Doubtful

 

0

 

0

 

0

 

488

 

0

 

0

 

0

0

 

488

Total business lending

$

472,811

$

638,783

$

337,778

$

196,592

$

224,483

$

757,308

$

804,088

$

652,553

$

4,084,396

Current period gross charge-offs

$

0

$

160

$

0

$

0

$

0

$

36

$

588

$

0

$

784

All Other Loans  
LOANS AND ALLOWANCE FOR CREDIT LOSSES  
Schedule of loans by credit quality indicator

Revolving

Revolving

Loans

Loans

(000’s omitted)

Term Loans Amortized Cost Basis by Origination Year

Amortized

Converted

March 31, 2024

    

2024

    

2023

    

2022

    

2021

    

2020

    

Prior

    

Cost Basis

    

to Term

    

Total

Consumer mortgage:

  

  

  

  

  

  

  

  

FICO AB(1)

  

  

  

  

  

  

  

  

Performing

$

64,407

$

349,747

$

347,072

$

448,044

$

195,758

$

740,946

$

0

$

93,588

$

2,239,562

Nonperforming

 

0

 

0

 

435

 

599

 

599

 

5,037

 

0

191

 

6,861

Total FICO AB

 

64,407

 

349,747

 

347,507

 

448,643

 

196,357

 

745,983

 

0

93,779

 

2,246,423

FICO CDE(2)

 

 

 

 

 

 

 

 

Performing

 

27,228

 

148,818

 

146,921

 

162,313

 

100,186

 

390,278

 

37,639

34,341

 

1,047,724

Nonperforming

 

0

 

559

 

2,843

 

1,837

 

2,253

 

14,418

 

360

1,050

 

23,320

Total FICO CDE

 

27,228

 

149,377

 

149,764

 

164,150

 

102,439

 

404,696

 

37,999

35,391

 

1,071,044

Total consumer mortgage

$

91,635

$

499,124

$

497,271

$

612,793

$

298,796

$

1,150,679

$

37,999

$

129,170

$

3,317,467

Current period gross charge-offs

$

0

$

0

$

0

$

0

$

0

$

93

$

0

$

0

$

93

Consumer indirect:

 

 

 

 

 

 

 

 

Performing

$

163,183

$

640,930

$

524,062

$

240,137

$

60,246

$

86,605

$

0

$

0

$

1,715,163

Nonperforming

 

0

 

240

 

289

 

78

 

19

 

239

 

0

0

 

865

Total consumer indirect

$

163,183

$

641,170

$

524,351

$

240,215

$

60,265

$

86,844

$

0

$

0

$

1,716,028

Current period gross charge-offs

$

0

$

943

$

1,282

$

393

$

175

$

267

$

0

$

0

$

3,060

Consumer direct:

 

 

 

 

 

 

 

 

Performing

$

22,640

$

69,889

$

46,515

$

22,634

$

6,682

$

8,574

$

6,722

$

1

$

183,657

Nonperforming

 

0

 

26

 

17

 

0

 

0

 

25

 

25

0

 

93

Total consumer direct

$

22,640

$

69,915

$

46,532

$

22,634

$

6,682

$

8,599

$

6,747

$

1

$

183,750

Current period gross charge-offs

$

0

$

274

$

254

$

227

$

17

$

41

$

60

$

0

$

873

Home equity:

 

 

 

 

 

 

 

 

Performing

$

11,042

$

59,649

$

61,180

$

61,104

$

30,104

$

66,718

$

125,865

$

27,626

$

443,288

Nonperforming

 

0

 

225

 

176

 

38

 

357

 

683

 

908

381

 

2,768

Total home equity

$

11,042

$

59,874

$

61,356

$

61,142

$

30,461

$

67,401

$

126,773

$

28,007

$

446,056

Current period gross charge-offs

$

0

$

0

$

23

$

0

$

0

$

0

$

0

$

0

$

23

(1)FICO AB refers to higher tiered loans with FICO scores greater than or equal to 720 at origination.
(2)FICO CDE refers to loans with FICO scores less than 720 at origination and potentially higher risk.

Revolving

Revolving

Loans

Loans

(000’s omitted)

Term Loans Amortized Cost Basis by Origination Year

Amortized

Converted

December 31, 2023

    

2023

    

2022

    

2021

    

2020

    

2019

    

Prior

    

Cost Basis

    

to Term

    

Total

Consumer mortgage:

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

FICO AB(1)

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Performing

$

354,967

$

353,185

$

456,871

$

199,429

$

157,159

$

606,591

$

0

$

86,067

$

2,214,269

Nonperforming

 

0

 

371

 

764

 

605

 

279

 

5,187

 

0

195

 

7,401

Total FICO AB

 

354,967

 

353,556

 

457,635

 

200,034

 

157,438

 

611,778

 

0

86,262

 

2,221,670

FICO CDE(2)

 

 

 

 

 

 

 

 

Performing

 

148,443

 

150,585

 

164,839

 

103,003

 

71,710

 

331,839

 

39,630

30,098

 

1,040,147

Nonperforming

 

53

 

2,629

 

2,477

 

1,629

 

1,785

 

13,201

 

367

1,060

 

23,201

Total FICO CDE

 

148,496

 

153,214

 

167,316

 

104,632

 

73,495

 

345,040

 

39,997

31,158

 

1,063,348

Total consumer mortgage

$

503,463

$

506,770

$

624,951

$

304,666

$

230,933

$

956,818

$

39,997

$

117,420

$

3,285,018

Current period gross charge-offs

$

0

$

0

$

0

$

0

$

85

$

584

$

0

$

0

$

669

Consumer indirect:

 

 

 

 

 

 

 

 

Performing

$

681,824

$

572,799

$

273,035

$

71,428

$

45,203

$

58,375

$

0

$

0

$

1,702,664

Nonperforming

 

84

 

443

 

101

 

42

 

19

 

87

 

0

0

 

776

Total consumer indirect

$

681,908

$

573,242

$

273,136

$

71,470

$

45,222

$

58,462

$

0

$

0

$

1,703,440

Current period gross charge-offs

$

926

$

3,595

$

1,969

$

1,171

$

570

$

1,121

$

0

$

0

$

9,352

Consumer direct:

 

 

 

 

 

 

 

 

Performing

$

80,169

$

52,826

$

26,617

$

8,282

$

4,604

$

5,697

$

6,875

$

1

$

185,071

Nonperforming

 

33

 

41

 

47

 

0

 

2

 

23

 

12

0

 

158

Total consumer direct

$

80,202

$

52,867

$

26,664

$

8,282

$

4,606

$

5,720

$

6,887

$

1

$

185,229

Current period gross charge-offs

$

206

$

813

$

450

$

110

$

110

$

159

$

161

$

0

$

2,009

Home equity:

 

 

 

 

 

 

 

 

Performing

$

61,065

$

62,801

$

63,102

$

31,094

$

25,721

$

44,832

$

126,939

$

28,177

$

443,731

Nonperforming

 

0

 

162

 

10

 

253

 

260

 

533

 

1,053

513

 

2,784

Total home equity

$

61,065

$

62,963

$

63,112

$

31,347

$

25,981

$

45,365

$

127,992

$

28,690

$

446,515

Current period gross charge-offs

$

0

$

0

$

0

$

64

$

0

$

44

$

11

$

0

$

119

(1)FICO AB refers to higher tiered loans with FICO scores greater than or equal to 720 at origination.
(2)FICO CDE refers to loans with FICO scores less than 720 at origination and potentially higher risk.