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Allowance for Credit Losses (ACL) (Tables)
9 Months Ended
Sep. 30, 2024
Allowance for Credit Losses (ACL)  
Schedule of changes in allowance for loan losses

The following tables present a disaggregated analysis of activity in the allowance for credit losses for the three and nine months ended September 30, 2024 and 2023:

Residential

Residential

Residential

Comm Constr.

CRE Owner-

Non-Owner-

(Dollars in thousands)

Mortgage Sr.

Mortgage Jr.

HELOC

Construction

& Dev.

Consumer

Multifamily

Municipal

Occupied

Occupied CRE

C & I

Total

Three Months Ended September 30, 2024

Allowance for credit losses:

Balance at end of period June 30, 2024

$

59,552

$

428

$

18,929

$

10,025

$

77,219

$

12,228

$

19,761

$

1,779

$

91,423

$

99,015

$

81,939

$

472,298

Charge-offs

 

(169)

 

 

 

 

 

(2,248)

 

 

 

(558)

(29)

(5,599)

 

(8,603)

Recoveries

 

37

 

8

 

175

 

9

 

57

 

517

 

 

 

26

247

1,447

 

2,523

Net (charge offs) recoveries

(132)

 

8

 

175

 

9

 

57

 

(1,731)

 

 

 

(532)

218

(4,152)

(6,080)

Provision (recovery) (1)

 

(6,725)

 

65

 

(272)

 

(2,552)

 

(8,611)

 

8,902

 

(2,637)

 

240

 

(6,670)

23,134

(3,111)

 

1,763

Balance at end of period September 30, 2024

$

52,695

$

501

$

18,832

$

7,482

$

68,665

$

19,399

$

17,124

$

2,019

$

84,221

$

122,367

$

74,676

$

467,981

Three Months Ended September 30, 2023

Allowance for credit losses:

Balance at end of period June 30, 2023

$

81,469

$

392

$

14,212

$

8,869

$

55,314

$

24,577

$

9,767

$

745

$

70,759

$

115,269

$

46,019

$

427,392

Charge-offs

 

(57)

 

 

(88)

 

 

(8)

 

(3,129)

 

 

 

(91)

(14,597)

 

(17,970)

Recoveries

 

240

 

28

 

226

 

3

 

67

 

651

 

 

 

415

511

2,632

 

4,773

Net (charge offs) recoveries

183

28

138

3

59

(2,478)

324

511

(11,965)

(13,197)

Provision (recovery) (1)

 

(4,601)

 

74

 

(1,036)

 

(1,643)

 

9,099

 

656

 

2,825

 

56

 

1,932

8,749

17,650

 

33,761

Balance at end of period September 30, 2023

$

77,051

$

494

$

13,314

$

7,229

$

64,472

$

22,755

$

12,592

$

801

$

73,015

$

124,529

$

51,704

$

447,956

(1)A negative provision for credit losses of ($8.7) million was recorded during the third quarter of 2024, compared to a negative provision for credit losses of ($1.1) million recorded during the third quarter of 2023 for the allowance for credit losses for unfunded commitments that is not included in the above table.

Residential

Residential

Residential

Comm Constr.

CRE Owner-

Non-Owner-

(Dollars in thousands)

Mortgage Sr.

Mortgage Jr.

HELOC

Construction

& Dev.

Consumer

Multifamily

Municipal

Occupied

Occupied CRE

C & I

Total

Nine Months Ended September 30, 2024

Allowance for credit losses:

Balance at end of period December 31, 2023

$

78,052

$

745

$

10,942

$

5,024

$

65,772

$

23,331

$

13,766

$

900

$

71,580

$

137,055

$

49,406

$

456,573

Charge-offs

 

(548)

 

 

(110)

 

(304)

 

(2,162)

 

(6,943)

 

 

 

(951)

(276)

(13,839)

 

(25,133)

Recoveries

 

252

 

97

 

744

 

31

 

1,208

 

2,467

 

66

 

 

537

346

6,401

 

12,149

Net (charge offs) recoveries

(296)

97

634

(273)

(954)

(4,476)

66

(414)

70

(7,438)

(12,984)

Provision (benefit) (1)

 

(25,061)

 

(341)

 

7,256

 

2,731

 

3,847

 

544

 

3,292

 

1,119

 

13,055

(14,758)

32,708

 

24,392

Balance at end of period September 30, 2024

$

52,695

$

501

$

18,832

$

7,482

$

68,665

$

19,399

$

17,124

$

2,019

$

84,221

$

122,367

$

74,676

$

467,981

Nine Months Ended September 30, 2023

Allowance for credit losses:

Balance at end of period December 31, 2022

$

72,188

$

405

$

14,886

$

8,974

$

45,410

$

22,767

$

3,684

$

849

$

58,083

$

78,485

$

50,713

$

356,444

Charge-offs

 

(96)

 

 

(127)

 

 

(10)

 

(8,875)

 

 

 

(126)

(51)

(20,890)

 

(30,175)

Recoveries

 

836

 

36

 

1,003

 

97

 

523

 

1,755

 

 

 

801

951

6,628

 

12,630

Net recoveries (charge offs)

740

36

876

97

513

(7,120)

675

900

(14,262)

(17,545)

Provision (benefit) (1)

 

4,123

 

53

 

(2,448)

 

(1,842)

 

18,549

 

7,108

 

8,908

 

(48)

 

14,257

45,144

15,253

 

109,057

Balance at end of period September 30, 2023

$

77,051

$

494

$

13,314

$

7,229

$

64,472

$

22,755

$

12,592

$

801

$

73,015

$

124,529

$

51,704

$

447,956

(1)A negative provision for credit losses of ($14.8) million was recorded during the first nine months of 2024, compared to a negative provision for credit losses of ($4.9) million during the first nine months of 2023 for the allowance for credit losses for unfunded commitments that is not included in the above table.