Loans

3 Months Ended

Mar. 31, 2024

Receivables [Abstract]

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

Loans

The period end loan composition was as follows:

($ in thousands)	Mar 31, 2024		Dec 31, 2023
Commercial and industrial	$	9,858,329	$	9,731,555
Commercial real estate — owner occupied	1,095,894		1,061,700
Commercial and business lending	10,954,223		10,793,255
Commercial real estate — investor	5,035,195		5,124,245
Real estate construction	2,287,041		2,271,398
Commercial real estate lending	7,322,237		7,395,644
Total commercial	18,276,460		18,188,898
Residential mortgage	7,868,180		7,864,891
Auto finance	2,471,257		2,256,162
Home equity	619,764		628,526
Other consumer	258,603		277,740
Total consumer	11,217,802		11,027,319
Total loans	$	29,494,263	$	29,216,218

Accrued interest receivable on loans totaled $133 million at March 31, 2024, and $132 million at December 31, 2023, and is included in interest receivable on the consolidated balance sheets. Interest accrued but not received is reversed against interest income when a loan is placed on nonaccrual.

The following table presents loans by credit quality indicator by origination year at March 31, 2024:

					Term Loans Amortized Cost Basis by Origination Year(a)
($ in thousands)	Rev Loans Converted to Term(a)		Rev Loans Amortized Cost Basis		YTD 2024		2023		2022		2021		2020		Prior		Total
Commercial and industrial:
Risk rating:
Pass	$	279	$	1,732,197	$	318,587	$	1,758,151	$	2,806,636	$	1,701,638	$	380,164	$	774,950	$	9,472,322
Special mention	—		14,287		—		13,305		24,216		27,909		3,392		865		83,973
Substandard	434		23,288		44,013		2,283		82,394		59,491		17,184		1,138		229,791
Nonaccrual	3,157		—		2,938		12,629		14,495		17,599		—		24,582		72,243
Commercial and industrial	$	3,869	$	1,769,772	$	365,538	$	1,786,369	$	2,927,740	$	1,806,637	$	400,739	$	801,535	$	9,858,329
Commercial real estate - owner occupied:
Risk rating:
Pass	$	—	$	11,455	$	56,257	$	196,065	$	191,357	$	234,852	$	133,883	$	218,224	$	1,042,093
Special mention	—		94		—		—		—		—		—		—		94
Substandard	—		950		2,667		18,003		2,083		12,376		8,423		7,114		51,616
Nonaccrual	—		—		722		1,368		—		—		—		—		2,090
Commercial real estate - owner occupied	$	—	$	12,500	$	59,646	$	215,436	$	193,440	$	247,228	$	142,306	$	225,339	$	1,095,894
Commercial and business lending:
Risk rating:
Pass	$	279	$	1,743,652	$	374,844	$	1,954,216	$	2,997,992	$	1,936,490	$	514,047	$	993,174	$	10,514,415
Special mention	—		14,381		—		13,305		24,216		27,909		3,392		865		84,068
Substandard	434		24,239		46,680		20,286		84,477		71,867		25,606		8,252		281,408
Nonaccrual	3,157		—		3,659		13,997		14,495		17,599		—		24,582		74,333
Commercial and business lending	$	3,869	$	1,782,272	$	425,184	$	2,001,805	$	3,121,180	$	2,053,865	$	543,045	$	1,026,873	$	10,954,223
Commercial real estate - investor:
Risk rating:
Pass	$	—	$	131,383	$	196,066	$	1,162,643	$	1,274,328	$	1,014,759	$	418,534	$	550,600	$	4,748,313
Special mention	—		502		—		—		22,494		9,238		—		35,614		67,848
Substandard	—		—		38,662		94,918		33,540		25,949		975		6,293		200,338
Nonaccrual	—		—		—		—		—		—		—		18,697		18,697
Commercial real estate - investor	$	—	$	131,886	$	234,727	$	1,257,561	$	1,330,362	$	1,049,946	$	419,509	$	611,204	$	5,035,195
Real estate construction:
Risk rating:
Pass	$	—	$	24,266	$	58,519	$	474,768	$	1,177,598	$	494,047	$	45,034	$	12,792	$	2,287,023
Nonaccrual	—		—		—		—		—		—		—		18		18
Real estate construction	$	—	$	24,266	$	58,519	$	474,768	$	1,177,598	$	494,047	$	45,034	$	12,810	$	2,287,041
Commercial real estate lending:
Risk rating:
Pass	$	—	$	155,649	$	254,585	$	1,637,410	$	2,451,926	$	1,508,806	$	463,568	$	563,392	$	7,035,336
Special mention	—		502		—		—		22,494		9,238		—		35,614		67,848
Substandard	—		—		38,662		94,918		33,540		25,949		975		6,293		200,338
Nonaccrual	—		—		—		—		—		—		—		18,715		18,715
Commercial real estate lending	$	—	$	156,151	$	293,246	$	1,732,329	$	2,507,960	$	1,543,993	$	464,543	$	624,014	$	7,322,237
Total commercial:
Risk rating:
Pass	$	279	$	1,899,301	$	629,429	$	3,591,627	$	5,449,918	$	3,445,296	$	977,615	$	1,556,566	$	17,549,751
Special mention	—		14,883		—		13,305		46,710		37,146		3,392		36,480		151,916
Substandard	434		24,239		85,342		115,205		118,017		97,816		26,582		14,545		481,745
Nonaccrual	3,157		—		3,659		13,997		14,495		17,599		—		43,297		93,047
Total commercial	$	3,869	$	1,938,423	$	718,430	$	3,734,133	$	5,629,140	$	3,597,858	$	1,007,588	$	1,650,888	$	18,276,460

					Term Loans Amortized Cost Basis by Origination Year(a)
($ in thousands)	Rev Loans Converted to Term(a)		Rev Loans Amortized Cost Basis		YTD 2024		2023		2022		2021		2020		Prior		Total
Residential mortgage:
Risk rating:
Pass	$	—	$	—	$	23,550	$	396,223	$	1,657,013	$	2,086,129	$	1,389,566	$	2,244,891	$	7,797,372
Special mention	—		—		—		—		—		—		—		94		94
Substandard	—		—		—		467		92		—		—		199		759
Nonaccrual	—		—		877		1,264		10,501		9,712		8,575		39,026		69,954
Residential mortgage	$	—	$	—	$	24,427	$	397,954	$	1,667,606	$	2,095,841	$	1,398,141	$	2,284,210	$	7,868,180
Auto finance:
Risk rating:
Pass	$	—	$	—	$	384,126	$	1,133,964	$	874,922	$	68,423	$	137	$	352	$	2,461,925
Special mention	—		—		—		634		1,398		117		—		—		2,148
Substandard	—		—		—		26		—		—		—		—		26
Nonaccrual	—		—		21		1,682		4,898		554		—		2		7,158
Auto finance	$	—	$	—	$	384,147	$	1,136,306	$	881,218	$	69,094	$	137	$	354	$	2,471,257
Home equity:
Risk rating:
Pass	$	3,830	$	514,998	$	21	$	1,508	$	29,539	$	5,949	$	2,278	$	56,995	$	611,286
Special mention	17		53		—		46		38		—		—		175		312
Substandard	—		—		—		9		—		—		—		56		65
Nonaccrual	505		76		31		—		671		141		120		7,061		8,100
Home equity	$	4,352	$	515,127	$	51	$	1,563	$	30,248	$	6,090	$	2,398	$	64,286	$	619,764
Other consumer:
Risk rating:
Pass	$	75	$	186,540	$	1,489	$	4,995	$	2,823	$	1,474	$	781	$	57,722	$	255,824
Special mention	3		850		—		14		24		6		7		3		904
Substandard	—		1,788		—		—		—		—		—		—		1,788
Nonaccrual	4		61		—		9		7		—		—		11		87
Other consumer	$	82	$	189,238	$	1,489	$	5,018	$	2,854	$	1,480	$	788	$	57,735	$	258,603
Total consumer:
Risk rating:
Pass	$	3,905	$	701,538	$	409,186	$	1,536,690	$	2,564,297	$	2,161,975	$	1,392,762	$	2,359,959	$	11,126,407
Special mention	20		904		—		694		1,459		123		7		272		3,459
Substandard	—		1,788		—		502		92		—		—		255		2,637
Nonaccrual	509		137		928		2,955		16,077		10,407		8,695		46,100		85,299
Total consumer	$	4,434	$	704,365	$	410,115	$	1,540,841	$	2,581,926	$	2,172,506	$	1,401,464	$	2,406,586	$	11,217,802
Total loans:
Risk rating:
Pass	$	4,184	$	2,600,839	$	1,038,615	$	5,128,316	$	8,014,215	$	5,607,272	$	2,370,376	$	3,916,525	$	28,676,159
Special mention	20		15,787		—		13,999		48,169		37,270		3,399		36,752		155,375
Substandard	434		26,026		85,342		115,707		118,109		97,816		26,582		14,800		484,383
Nonaccrual	3,666		137		4,588		16,952		30,572		28,007		8,695		89,396		178,346
Total loans	$	8,303	$	2,642,788	$	1,128,545	$	5,274,974	$	8,211,066	$	5,770,365	$	2,409,052	$	4,057,474	$	29,494,263

(a) Revolving loans converted to term loans are those converted during the reporting period and are also reported in their year of origination.

The following table presents loans by credit quality indicator by origination year at December 31, 2023:

					Term Loans Amortized Cost Basis by Origination Year(a)
($ in thousands)	Rev Loans Converted to Term(a)		Rev Loans Amortized Cost Basis		2023		2022		2021		2020		2019		Prior		Total
Commercial and industrial:
Risk rating:
Pass	$	1,380	$	1,693,249	$	1,736,617	$	2,877,173	$	1,824,362	$	398,046	$	383,695	$	449,006	$	9,362,149
Special mention	—		21,779		4,017		46,610		8,525		3,529		—		25,341		109,801
Substandard	804		81,924		10,515		39,748		47,279		17,732		94		291		197,582
Nonaccrual	6,414		—		13,317		14,188		33,891		627		—		—		62,022
Commercial and industrial	$	8,598	$	1,796,951	$	1,764,466	$	2,977,719	$	1,914,057	$	419,934	$	383,789	$	474,638	$	9,731,555
Commercial real estate - owner occupied:
Risk rating:
Pass	$	—	$	15,393	$	204,039	$	188,003	$	239,218	$	136,535	$	135,730	$	92,339	$	1,011,259
Special mention	—		271		—		—		6,150		2,635		—		1,293		10,349
Substandard	—		292		14,735		2,791		6,416		8,537		3,086		2,841		38,699
Nonaccrual	—		—		1,394		—		—		—		—		—		1,394
Commercial real estate - owner occupied	$	—	$	15,957	$	220,168	$	190,794	$	251,783	$	147,708	$	138,816	$	96,473	$	1,061,700
Commercial and business lending:
Risk rating:
Pass	$	1,380	$	1,708,642	$	1,940,657	$	3,065,177	$	2,063,580	$	534,581	$	519,426	$	541,345	$	10,373,408
Special mention	—		22,050		4,017		46,610		14,675		6,164		—		26,634		120,150
Substandard	804		82,216		25,250		42,539		53,695		26,269		3,180		3,132		236,281
Nonaccrual	6,414		—		14,710		14,188		33,891		627		—		—		63,416
Commercial and business lending	$	8,598	$	1,812,909	$	1,984,635	$	3,168,514	$	2,165,840	$	567,642	$	522,606	$	571,111	$	10,793,255
Commercial real estate - investor:
Risk rating:
Pass	$	—	$	155,109	$	1,263,866	$	1,247,434	$	1,080,425	$	471,371	$	358,996	$	239,230	$	4,816,433
Special mention	—		502		4,248		25,474		26,208		—		29,772		6,014		92,218
Substandard	—		—		106,002		69,584		15,000		983		—		24,025		215,595
Commercial real estate - investor	$	—	$	155,611	$	1,374,116	$	1,342,492	$	1,121,633	$	472,355	$	388,768	$	269,269	$	5,124,245
Real estate construction:
Risk rating:
Pass	$	—	$	23,307	$	422,277	$	1,176,608	$	547,825	$	87,680	$	5,740	$	7,954	$	2,271,392
Nonaccrual	—		—		—		—		—		—		—		6		6
Real estate construction	$	—	$	23,307	$	422,277	$	1,176,608	$	547,825	$	87,680	$	5,740	$	7,960	$	2,271,398
Commercial real estate lending:
Risk rating:
Pass	$	—	$	178,416	$	1,686,143	$	2,424,042	$	1,628,250	$	559,052	$	364,737	$	247,184	$	7,087,824
Special mention	—		502		4,248		25,474		26,208		—		29,772		6,014		92,218
Substandard	—		—		106,002		69,584		15,000		983		—		24,025		215,595
Nonaccrual	—		—		—		—		—		—		—		6		6
Commercial real estate lending	$	—	$	178,918	$	1,796,393	$	2,519,100	$	1,669,458	$	560,035	$	394,508	$	277,230	$	7,395,644

					Term Loans Amortized Cost Basis by Origination Year(a)
($ in thousands)	Rev Loans Converted to Term(a)		Rev Loans Amortized Cost Basis		2023		2022		2021		2020		2019		Prior		Total
Total commercial:
Risk rating:
Pass	$	1,380	$	1,887,058	$	3,626,800	$	5,489,219	$	3,691,830	$	1,093,633	$	884,162	$	788,529	$	17,461,232
Special mention	—		22,552		8,265		72,084		40,882		6,164		29,772		32,648		212,368
Substandard	804		82,216		131,253		112,123		68,695		27,253		3,180		27,157		451,876
Nonaccrual	6,414		—		14,710		14,188		33,891		627		—		6		63,422
Total commercial	$	8,598	$	1,991,827	$	3,781,028	$	5,687,614	$	3,835,298	$	1,127,677	$	917,114	$	848,341	$	18,188,898
Residential mortgage:
Risk rating:
Pass	$	—	$	—	$	352,321	$	1,617,409	$	2,110,577	$	1,414,186	$	647,778	$	1,650,542	$	7,792,813
Special mention	—		—		—		—		—		—		95		57		152
Substandard	—		—		490		93		—		—		174		26		784
Nonaccrual	—		—		1,425		9,567		9,259		10,397		6,628		33,865		71,142
Residential mortgage	$	—	$	—	$	354,236	$	1,627,070	$	2,119,836	$	1,424,583	$	654,675	$	1,684,490	$	7,864,891
Auto finance:
Risk rating:
Pass	$	—	$	—	$	1,218,820	$	952,839	$	75,209	$	163	$	456	$	132	$	2,247,618
Special mention	—		—		619		1,850		205		—		—		—		2,674
Substandard	—		—		—		73		—		—		—		—		73
Nonaccrual	—		—		1,032		4,332		430		—		3		—		5,797
Auto finance	$	—	$	—	$	1,220,471	$	959,094	$	75,844	$	163	$	458	$	132	$	2,256,162
Home equity:
Risk rating:
Pass	$	8,703	$	521,000	$	1,678	$	29,863	$	6,084	$	2,327	$	4,891	$	53,350	$	619,192
Special mention	179		200		—		87		—		29		15		378		708
Substandard	10		75		10		—		—		—		33		—		118
Nonaccrual	1,302		160		29		495		132		144		368		7,180		8,508
Home equity	$	10,195	$	521,434	$	1,717	$	30,445	$	6,217	$	2,500	$	5,308	$	60,907	$	628,526
Other consumer:
Risk rating:
Pass	$	121	$	196,632	$	6,419	$	3,732	$	2,658	$	1,127	$	460	$	64,121	$	275,149
Special mention	26		843		9		—		3		20		—		6		881
Substandard	—		1,582		—		—		—		—		—		—		1,582
Nonaccrual	27		71		10		1		6		2		8		29		128
Other consumer	$	174	$	199,129	$	6,438	$	3,733	$	2,668	$	1,149	$	468	$	64,156	$	277,740
Total consumer:
Risk rating:
Pass	$	8,824	$	717,632	$	1,579,238	$	2,603,843	$	2,194,529	$	1,417,802	$	653,584	$	1,768,145	$	10,934,773
Special mention	205		1,043		628		1,936		208		49		110		441		4,416
Substandard	10		1,656		500		166		—		—		207		26		2,556
Nonaccrual	1,330		231		2,496		14,396		9,827		10,544		7,007		41,073		85,574
Total consumer	$	10,369	$	720,563	$	1,582,862	$	2,620,341	$	2,204,564	$	1,428,395	$	660,909	$	1,809,685	$	11,027,319
Total loans:
Risk rating:
Pass	$	10,204	$	2,604,690	$	5,206,038	$	8,093,062	$	5,886,359	$	2,511,435	$	1,537,747	$	2,556,674	$	28,396,005
Special mention	205		23,595		8,893		74,020		41,091		6,213		29,882		33,089		216,784
Substandard	814		83,872		131,753		112,289		68,695		27,253		3,387		27,183		454,432
Nonaccrual	7,744		231		17,206		28,584		43,718		11,170		7,007		41,080		148,997
Total loans	$	18,966	$	2,712,389	$	5,363,890	$	8,307,956	$	6,039,862	$	2,556,071	$	1,578,023	$	2,658,026	$	29,216,218

(a) Revolving loans converted to term loans are those converted during the reporting period and are also reported in their year of origination.

The following table presents gross charge offs by origination year for the three months ended March 31, 2024:

			Gross Charge Offs by Origination Year
($ in thousands)	Rev Loans Amortized Cost Basis		YTD 2024		2023		2022		2021		2020		Prior		Total
Commercial and industrial	$	1,024	$	—	$	125	$	553	$	17,724	$	3	$	—	$	19,429
Commercial real estate-owner occupied	—		—		—		—		—		—		3		3
Commercial and business lending	1,024		—		125		553		17,724		3		3		19,432
Total commercial	1,024		—		125		553		17,724		3		3		19,432
Residential mortgage	—		—		40		—		—		2		47		89
Auto finance	—		—		767		1,675		158		—		—		2,600
Home equity	93		—		—		—		—		—		15		108
Other consumer	1,688		—		15		8		17		28		34		1,790
Total consumer	1,782		—		822		1,683		175		30		95		4,586
Total gross charge offs	$	2,806	$	—	$	947	$	2,236	$	17,899	$	33	$	98	$	24,018

The following table presents gross charge offs by origination year for the year ended December 31, 2023:

			Gross Charge Offs by Origination Year
($ in thousands)	Rev Loans Amortized Cost Basis		2023		2022		2021		2020		2019		Prior		Total
Commercial and industrial	$	4,130	$	717	$	9,594	$	25,270	$	5,958	$	—	$	18	$	45,687
Commercial real estate-owner occupied	—		—		—		—		—		25		—		25
Commercial and business lending	4,130		717		9,594		25,270		5,958		25		18		45,713
Commercial real estate-investor	—		—		—		—		—		—		252		252
Real estate construction	—		—		—		—		—		—		25		25
Commercial real estate lending	—		—		—		—		—		—		277		277
Total commercial	4,130		717		9,594		25,270		5,958		25		295		45,989
Residential mortgage	—		2		32		42		148		5		723		952
Auto finance	—		795		4,524		626		—		5		—		5,950
Home equity	53		21		3		31		—		22		294		424
Other consumer	4,884		—		72		124		131		72		170		5,453
Total consumer	4,937		818		4,630		823		279		105		1,187		12,779
Total gross charge offs	$	9,068	$	1,535	$	14,224	$	26,093	$	6,237	$	130	$	1,482	$	58,768

Factors that are important to managing overall credit quality are sound loan underwriting and administration, systematic monitoring of existing loans and commitments, effective loan review on an ongoing basis, early identification of potential problems, and appropriate policies for ACLL, nonaccrual loans, and charge offs.

For commercial loans, management has determined the pass credit quality indicator to include credits exhibiting acceptable financial statements, cash flow, and leverage. If any risk exists, it is mitigated by the loan structure, collateral, monitoring, or control. For consumer loans, performing loans include credits performing in accordance with the original contractual terms.

Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Special mention credits have potential weaknesses that warrant specific attention from management. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the credit. Accruing loan modifications could be pass or special mention, depending on the risk rating on the loan. Substandard loans are considered inadequately protected by the current net worth and paying capacity of the obligor or the collateral pledged. These loans generally have a well-defined weakness, or weaknesses, which may jeopardize liquidation of the debt, and are characterized by the distinct possibility the Corporation will sustain some loss if the deficiencies are not corrected. Management has determined commercial loan relationships in nonaccrual status, and commercial and consumer loan relationships with their terms restructured in a loan modification, meet the criteria to be individually evaluated. Commercial loans classified as special mention, substandard, and nonaccrual are reviewed at a minimum on a quarterly basis, while pass credits, which are performing rated credits, are generally reviewed on an annual basis or more frequently if the loan renewal is less than one year or if otherwise warranted.

The following table presents loans by past due status at March 31, 2024:

	Accruing
($ in thousands)	Current		30-59 Days Past Due		60-89 Days Past Due		90+ Days Past Due		Nonaccrual(a)(b)		Total
Commercial and industrial	$	9,785,140	$	371	$	150	$	426	$	72,243	$	9,858,329
Commercial real estate - owner occupied	1,093,804		—		—		—		2,090		1,095,894
Commercial and business lending	10,878,944		371		150		426		74,333		10,954,223
Commercial real estate - investor	4,997,335		—		19,164		—		18,697		5,035,195
Real estate construction	2,285,763		1,260		—		—		18		2,287,041
Commercial real estate lending	7,283,098		1,260		19,164		—		18,715		7,322,237
Total commercial	18,162,042		1,631		19,314		426		93,047		18,276,460
Residential mortgage	7,788,322		9,808		94		—		69,954		7,868,180
Auto finance	2,451,552		10,373		2,148		26		7,158		2,471,257
Home equity	608,821		2,506		312		24		8,100		619,764
Other consumer	254,313		1,298		963		1,942		87		258,603
Total consumer	11,103,009		23,985		3,517		1,992		85,299		11,217,802
Total loans	$	29,265,051	$	25,617	$	22,831	$	2,417	$	178,346	$	29,494,263

(a) Of the total nonaccrual loans, $98 million, or 55%, were current with respect to payment at March 31, 2024.

(b) No interest income was recognized on nonaccrual loans for the three months ended March 31, 2024. In addition, there were $20 million of nonaccrual loans for which there was no related ACLL at March 31, 2024.

The following table presents loans by past due status at December 31, 2023:

	Accruing
($ in thousands)	Current		30-59 Days Past Due		60-89 Days Past Due		90+ Days  Past Due		Nonaccrual(a)(b)		Total
Commercial and industrial	$	9,663,587	$	5,374	$	191	$	380	$	62,022	$	9,731,555
Commercial real estate - owner occupied	1,059,948		—		358		—		1,394		1,061,700
Commercial and business lending	10,723,536		5,374		549		380		63,416		10,793,255
Commercial real estate - investor	5,086,117		—		18,697		19,432		—		5,124,245
Real estate construction	2,271,392		—		—		—		6		2,271,398
Commercial real estate lending	7,357,509		—		18,697		19,432		6		7,395,644
Total commercial	18,081,044		5,374		19,246		19,812		63,422		18,188,898
Residential mortgage	7,780,304		13,294		152		—		71,142		7,864,891
Auto finance	2,232,906		14,712		2,674		73		5,797		2,256,162
Home equity	615,810		3,500		708		—		8,508		628,526
Other consumer	273,644		1,233		932		1,803		128		277,740
Total consumer	10,902,664		32,739		4,467		1,876		85,574		11,027,319
Total loans	$	28,983,708	$	38,113	$	23,712	$	21,689	$	148,997	$	29,216,218

(a) Of the total nonaccrual loans, $80 million, or 53%, were current with respect to payment at December 31, 2023.

(b) No interest income was recognized on nonaccrual loans for the year ended December 31, 2023. In addition, there were $23 million of nonaccrual loans for which there was no related ACLL at December 31, 2023.

Loan Modifications

The following tables show the composition of loan modifications made to borrowers experiencing financial difficulty by the loan portfolio and type of concessions granted during the three months ended March 31, 2024 and March 31, 2023. Each of the types of concessions granted comprised less than 1% of their respective classes of loan portfolios at March 31, 2024.

	Interest Rate Concession
	Amortized Cost
($ in thousands)	March 31, 2024		March 31, 2023
Commercial and industrial	$	159	$	47
Auto	46		61
Home equity	—		31
Other consumer	534		498
Total loans modified	$	739	$	637

	Term Extension
	Amortized Cost
($ in thousands)	March 31, 2024		March 31, 2023
Residential mortgage	$	—	$	209
Total loans modified	$	—	$	209

	Combination - Interest Rate Concession and Term Extension
	Amortized Cost
($ in thousands)	March 31, 2024		March 31, 2023
Residential mortgage	$	643	$	165
Home equity	31		93
Total loans modified	$	674	$	258

The following tables summarize, by loan portfolio, the financial effect of the Corporation's loan modifications on the modified loans as of March 31, 2024 and March 31, 2023:

	Interest Rate Concession
	Financial Effect, Weighted Average Contractual Interest Rate (Decrease) Increase(a)
Loan Type	March 31, 2024		March 31, 2023
Commercial and industrial	(16)	%	(16)	%
Residential mortgage	3	%	—	%
Auto	(9)	%	(2)	%
Home equity	(3)	%	1	%
Other consumer	(21)	%	(20)	%
Weighted average of total loans modified	(9)	%	(17)	%

(a) Due to market conditions, some interest rate concessions on floating rate loans may involve an increase in rate that was lower in comparison to the rate of increase for floating rate loans not modified.

	Term Extension
	Financial Effect, Weighted Average Term Increase(a)
Loan Type	March 31, 2024	March 31, 2023
Residential mortgage	158 months	26 months
Home equity	64 months	0 months
Weighted average of total loans modified	153 months	26 months

(a) During the three months ended March 31, 2024 and March 31, 2023, term extensions changed the weighted average term on modified loans from 254 to 407 months and 334 to 360 months, respectively.

The Corporation closely monitors the performance of loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table depicts the performance of loans that have been modified in the twelve months ended March 31, 2024:

	Payment Status (Amortized Cost Basis)
($ in thousands)	Current		30-89 Days Past Due		90+ Days Past Due		Nonaccrual
Commercial and industrial	$	377	$	—	$	—	$	—
Residential mortgage	345		—		—		991
Auto	63		3		—		11
Home equity	135		47		—		139
Other consumer	1,487		—		—		—
Total loans modified	$	2,407	$	50	$	—	$	1,141

The following table depicts the performance of loans that have been modified in the three months ended March 31, 2023:

	Payment Status (Amortized Cost Basis)
($ in thousands)	Current		30-89 Days Past Due		90+ Days Past Due		Nonaccrual
Commercial and industrial	$	47	$	—	$	—	$	—
Residential mortgage	126		—		—		248
Auto	61		—		—		—
Home equity	31		—		—		93
Other consumer	498		—		—		—
Total loans modified	$	763	$	—	$	—	$	341

The following table provides the amortized cost of loan modifications by loan portfolio and type of concession that were modified in the previous twelve months and subsequently had a payment default during the three months ended March 31, 2024:

	Amortized Cost of Loan Modifications that Subsequently Defaulted
($ in thousands)	Interest Rate Concession		Term Extension		Combination Interest Rate Reduction and Term Extension
Auto	$	11	$	—	$	—
Total loans modified	$	11	$	—	$	—

The following table provides the amortized cost of loan modifications by loan portfolio and type of concession that were modified in the previous three months and subsequently had a payment default during the three months ended March 31, 2023:

	Amortized Cost of Loan Modifications that Subsequently Defaulted
($ in thousands)	Interest Rate Concession		Term Extension		Combination Interest Rate Reduction and Term Extension
Home equity	$	—	$	—	$	60
Total loans modified	$	—	$	—	$	60

The nature and extent of the impairment of modified loans, including those which have experienced a subsequent payment default, are considered in the determination of an appropriate level of the ACLL.

Allowance for Credit Losses on Loans

The ACLL is comprised of the allowance for loan losses and the allowance for unfunded commitments. The level of the ACLL represents management’s estimate of an amount appropriate to provide for expected lifetime credit losses in the loan portfolio at the balance sheet date. The expected lifetime credit losses are the product of multiplying the Corporation's estimates of probability of default, loss given default, and the individual loan level exposure at default on an undiscounted basis. A main factor in the determination of the ACLL is the economic forecast. The forecast the Corporation used for March 31, 2024 was the Moody's baseline scenario from February 2024, which was reviewed against the March 2024 baseline scenario with no material updates made, over a two year reasonable and supportable period with straight-line reversion to the historical losses over the second year of the period. The allowance for unfunded commitments is maintained at a level believed by management to be sufficient to absorb expected lifetime losses related to unfunded credit facilities (including unfunded loan commitments and letters of credit). See Note 11 for additional information on the change in the allowance for unfunded commitments.

The following table presents a summary of the changes in the ACLL by portfolio segment for the three months ended March 31, 2024:

($ in thousands)	Dec 31, 2023		Charge offs		Recoveries		Net Charge offs		Provision for credit losses		Mar 31, 2024		ACLL / Loans
Allowance for loan losses
Commercial and industrial	$	128,263	$	(19,429)	$	791	$	(18,638)	$	23,202	$	132,826
Commercial real estate — owner occupied	10,610		(3)		5		2		1,768		12,381
Commercial and business lending	138,873		(19,432)		796		(18,636)		24,970		145,207
Commercial real estate — investor	67,858		—		—		—		4,137		71,995
Real estate construction	53,554		—		30		30		(4,281)		49,303
Commercial real estate lending	121,412		—		30		30		(144)		121,298
Total commercial	260,285		(19,432)		826		(18,606)		24,826		266,506
Residential mortgage	37,808		(89)		27		(62)		(1,831)		35,915
Auto finance	24,961		(2,600)		506		(2,094)		3,248		26,114
Home equity	15,403		(108)		319		211		(874)		14,740
Other consumer	12,638		(1,790)		252		(1,537)		1,630		12,731
Total consumer	90,809		(4,586)		1,104		(3,482)		2,174		89,501
Total loans	$	351,094	$	(24,018)	$	1,930	$	(22,088)	$	27,000	$	356,006
Allowance for unfunded commitments
Commercial and industrial	$	13,319	$	—	$	—	$	—	$	(757)	$	12,562
Commercial real estate — owner occupied	149		—		—		—		15		164
Commercial and business lending	13,468		—		—		—		(742)		12,725
Commercial real estate — investor	480		—		—		—		37		517
Real estate construction	17,024		—		—		—		(2,103)		14,921
Commercial real estate lending	17,504		—		—		—		(2,066)		15,438
Total commercial	30,972		—		—		—		(2,808)		28,164
Home equity	2,629		—		—		—		(316)		2,313
Other consumer	1,174		—		—		—		124		1,298
Total consumer	3,803		—		—		—		(192)		3,612
Total loans	$	34,776	$	—	$	—	$	—	$	(3,000)	$	31,776
Allowance for credit losses on loans
Commercial and industrial	$	141,582	$	(19,429)	$	791	$	(18,638)	$	22,445	$	145,388	1.47	%
Commercial real estate — owner occupied	10,759		(3)		5		2		1,783		12,544		1.14	%
Commercial and business lending	152,341		(19,432)		796		(18,636)		24,227		157,933		1.44	%
Commercial real estate — investor	68,338		—		—		—		4,174		72,512		1.44	%
Real estate construction	70,578		—		30		30		(6,383)		64,225		2.81	%
Commercial real estate lending	138,916		—		30		30		(2,209)		136,737		1.87	%
Total commercial	291,257		(19,432)		826		(18,606)		22,018		294,669		1.61	%
Residential mortgage	37,808		(89)		27		(62)		(1,831)		35,915		0.46	%
Auto finance	24,961		(2,600)		506		(2,094)		3,248		26,114		1.06	%
Home equity	18,032		(108)		319		211		(1,190)		17,054		2.75	%
Other consumer	13,812		(1,790)		252		(1,537)		1,755		14,029		5.43	%
Total consumer	94,613		(4,586)		1,104		(3,482)		1,982		93,112		0.83	%
Total loans	$	385,870	$	(24,018)	$	1,930	$	(22,088)	$	24,000	$	387,782	1.31	%

The following table presents a summary of the changes in the ACLL by portfolio segment for the year ended December 31, 2023:

($ in thousands)	Dec 31, 2022		Charge offs		Recoveries		Net Charge offs		Provision for credit losses		Dec 31, 2023		ACLL / Loans
Allowance for loan losses
Commercial and industrial	$	119,076	$	(45,687)	$	3,015	$	(42,672)	$	51,859	$	128,263
Commercial real estate — owner occupied	9,475		(25)		11		(15)		1,150		10,610
Commercial and business lending	128,551		(45,713)		3,026		(42,687)		53,009		138,873
Commercial real estate — investor	54,398		(252)		3,016		2,763		10,697		67,858
Real estate construction	45,589		(25)		80		55		7,910		53,554
Commercial real estate lending	99,986		(277)		3,095		2,819		18,607		121,412
Total commercial	228,538		(45,989)		6,121		(39,868)		71,616		260,285
Residential mortgage	38,298		(952)		541		(411)		(79)		37,808
Auto finance	19,619		(5,950)		1,241		(4,709)		10,051		24,961
Home equity	14,875		(424)		1,262		837		(310)		15,403
Other consumer	11,390		(5,453)		978		(4,475)		5,723		12,638
Total consumer	84,182		(12,779)		4,021		(8,758)		15,384		90,809
Total loans	$	312,720	$	(58,768)	$	10,142	$	(48,626)	$	87,000	$	351,094
Allowance for unfunded commitments
Commercial and industrial	$	12,997	$	—	$	—	$	—	$	321	$	13,319
Commercial real estate — owner occupied	103		—		—		—		46		149
Commercial and business lending	13,101		—		—		—		367		13,468
Commercial real estate — investor	710		—		—		—		(230)		480
Real estate construction	20,583		—		—		—		(3,558)		17,024
Commercial real estate lending	21,292		—		—		—		(3,788)		17,504
Total commercial	34,393		—		—		—		(3,421)		30,972
Home equity	2,699		—		—		—		(70)		2,629
Other consumer	1,683		—		—		—		(509)		1,174
Total consumer	4,382		—		—		—		(579)		3,803
Total loans	$	38,776	$	—	$	—	$	—	$	(4,000)	$	34,776
Allowance for credit losses on loans
Commercial and industrial	$	132,073	$	(45,687)	$	3,015	$	(42,672)	$	52,181	$	141,582	1.45	%
Commercial real estate — owner occupied	9,579		(25)		11		(15)		1,195		10,759		1.01	%
Commercial and business lending	141,652		(45,713)		3,026		(42,687)		53,376		152,341		1.41	%
Commercial real estate — investor	55,108		(252)		3,016		2,763		10,467		68,338		1.33	%
Real estate construction	66,171		(25)		80		55		4,351		70,578		3.11	%
Commercial real estate lending	121,279		(277)		3,095		2,819		14,819		138,916		1.88	%
Total commercial	262,931		(45,989)		6,121		(39,868)		68,195		291,257		1.60	%
Residential mortgage	38,298		(952)		541		(411)		(79)		37,808		0.48	%
Auto finance	19,619		(5,950)		1,241		(4,709)		10,051		24,961		1.11	%
Home equity	17,574		(424)		1,262		837		(380)		18,032		2.87	%
Other consumer	13,073		(5,453)		978		(4,475)		5,214		13,812		4.97	%
Total consumer	88,565		(12,779)		4,021		(8,758)		14,805		94,613		0.86	%
Total loans	$	351,496	$	(58,768)	$	10,142	$	(48,626)	$	83,000	$	385,870	1.32	%