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. |
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