Allowance for Credit Losses and Credit Quality of Loans (Tables)

6 Months Ended

Jun. 30, 2021

Allowance for Credit Losses and Credit Quality of Loans [Abstract]

Allowance for Loan Losses by Portfolio

The following tables present the activity in the allowance for credit losses by portfolio segment:

(In thousands)	Commercial Loans			Consumer Loans			Residential			Total
Balance as of March 31, 2021	$	50,045		$	34,580		$	20,375		$	105,000
Charge-offs		(389	)		(3,271	)		(349	)		(4,009	)
Recoveries		61			2,288			376			2,725
Provision		(5,526	)		1,284			(974	)		(5,216	)
Ending balance as of June 30, 2021	$	44,191		$	34,881		$	19,428		$	98,500
Balance as of March 31, 2020	$	42,212		$	37,546		$	20,242		$	100,000
Charge-offs		(709	)		(6,178	)		(490	)		(7,377	)
Recoveries		113			1,810			114			2,037
Provision		8,770			6,916			3,154			18,840
Ending balance as of June 30, 2020	$	50,386		$	40,094		$	23,020		$	113,500

(In thousands)	Commercial Loans			Consumer Loans			Residential			Total
Balance as of December 31, 2020	$	50,942		$	37,803		$	21,255		$	110,000
Charge-offs		(631	)		(7,619	)		(419	)		(8,669	)
Recoveries		179			4,363			639			5,181
Provision		(6,299	)		334			(2,047	)		(8,012	)
Ending balance as of June 30, 2021	$	44,191		$	34,881		$	19,428		$	98,500
Balance as of January 1, 2020 (after adoption of ASC 326)	$	27,156		$	32,122		$	16,721		$	75,999
Charge-offs		(1,729	)		(13,069	)		(805	)		(15,603	)
Recoveries		341			4,045			238			4,624
Provision		24,618			16,996			6,866			48,480
Ending balance as of June 30, 2020	$	50,386		$	40,094		$	23,020		$	113,500

Past due and Nonperforming Loans by Loan Class

The following table sets forth information with regard to past due and nonperforming loans by loan segment:

(In thousands)	31-60 Days Past Due Accruing		61-90 Days Past Due Accruing		Greater Than 90 Days Past Due Accruing		Total Past Due Accruing		Nonaccrual		Current		Recorded Total Loans
As of June 30, 2021
Commercial loans:
C&I	$	292	$	30	$	1,496	$	1,818	$	4,908	$	1,138,204	$	1,144,930
CRE		-		1,671		-		1,671		18,959		2,478,321		2,498,951
PPP		-		-		-		-		-		359,738		359,738
Total commercial loans	$	292	$	1,701	$	1,496	$	3,489	$	23,867	$	3,976,263	$	4,003,619
Consumer loans:
Auto	$	6,233	$	878	$	217	$	7,328	$	1,273	$	854,506	$	863,107
Other consumer		3,024		1,588		755		5,367		168		657,165		662,700
Total consumer loans	$	9,257	$	2,466	$	972	$	12,695	$	1,441	$	1,511,671	$	1,525,807
Residential	$	2,296	$	930	$	107	$	3,333	$	15,242	$	1,969,626	$	1,988,201
Total loans	$	11,845	$	5,097	$	2,575	$	19,517	$	40,550	$	7,457,560	$	7,517,627

(In thousands)	31-60 Days Past Due Accruing		61-90 Days Past Due Accruing		Greater Than 90 Days Past Due Accruing		Total Past Due Accruing		Nonaccrual		Current		Recorded Total Loans
As of December 31, 2020
Commercial loans:
C&I	$	2,235	$	2,394	$	23	$	4,652	$	4,278	$	1,116,686	$	1,125,616
CRE		682		-		470		1,152		19,971		2,391,162		2,412,285
PPP		-		-		-		-		-		430,810		430,810
Total commercial loans	$	2,917	$	2,394	$	493	$	5,804	$	24,249	$	3,938,658	$	3,968,711
Consumer loans:
Auto	$	9,125	$	1,553	$	866	$	11,544	$	2,730	$	877,831	$	892,105
Other consumer		3,711		1,929		1,272		6,912		290		640,952		648,154
Total consumer loans	$	12,836	$	3,482	$	2,138	$	18,456	$	3,020	$	1,518,783	$	1,540,259
Residential	$	2,719	$	309	$	518	$	3,546	$	17,378	$	1,968,991	$	1,989,915
Total loans	$	18,472	$	6,185	$	3,149	$	27,806	$	44,647	$	7,426,432	$	7,498,885

Financing Receivable Credit Quality by Loan Class

The following tables illustrate the Company’s credit quality by loan class by vintage:

(In thousands)	2021		2020		2019		2018		2017		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
As of June 30, 2021
C&I
By internally assigned grade:
Pass	$	180,367	$	267,935	$	143,922	$	77,622	$	28,251	$	48,225	$	306,465	$	10,934	$	1,063,721
Special mention		98		15,548		5,926		3,619		3,547		4,057		20,651		-		53,446
Substandard		26		382		7,504		5,514		2,741		3,823		7,318		257		27,565
Doubtful		-		-		-		1		196		1		-		-		198
Total C&I	$	180,491	$	283,865	$	157,352	$	86,756	$	34,735	$	56,106	$	334,434	$	11,191	$	1,144,930
CRE
By internally assigned grade:
Pass	$	224,088	$	445,353	$	351,481	$	252,634	$	275,791	$	516,252	$	116,287	$	60,252	$	2,242,138
Special mention		432		1,408		40,057		8,046		22,483		67,304		1,068		-		140,798
Substandard		-		81		16,231		15,418		12,733		61,573		1,246		-		107,282
Doubtful		-		-		1,897		-		-		6,836		-		-		8,733
Total CRE	$	224,520	$	446,842	$	409,666	$	276,098	$	311,007	$	651,965	$	118,601	$	60,252	$	2,498,951
PPP
By internally assigned grade:
Pass	$	270,953	$	88,785	$	-	$	-	$	-	$	-	$	-	$	-	$	359,738
Total PPP	$	270,953	$	88,785	$	-	$	-	$	-	$	-	$	-	$	-	$	359,738
Auto
By payment activity:
Performing	$	204,980	$	164,749	$	243,935	$	144,665	$	75,078	$	28,190	$	20	$	-	$	861,617
Nonperforming		37		265		473		368		347		-		-		-		1,490
Total auto	$	205,017	$	165,014	$	244,408	$	145,033	$	75,425	$	28,190	$	20	$	-	$	863,107
Other consumer
By payment activity:
Performing	$	157,719	$	183,271	$	143,208	$	99,444	$	40,466	$	22,031	$	15,621	$	17	$	661,777
Nonperforming		6		379		206		72		229		9		2		20		923
Total other consumer	$	157,725	$	183,650	$	143,414	$	99,516	$	40,695	$	22,040	$	15,623	$	37	$	662,700
Residential
By payment activity:
Performing	$	161,399	$	232,662	$	199,467	$	191,931	$	164,674	$	763,772	$	246,550	$	12,397	$	1,972,852
Nonperforming		-		1,351		652		1,913		2,168		9,265		-		-		15,349
Total residential	$	161,399	$	234,013	$	200,119	$	193,844	$	166,842	$	773,037	$	246,550	$	12,397	$	1,988,201
Total loans	$	1,200,105	$	1,402,169	$	1,154,959	$	801,247	$	628,704	$	1,531,338	$	715,228	$	83,877	$	7,517,627

(In thousands)	2020		2019		2018		2017		2016		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
As of December 31, 2020
C&I
By internally assigned grade:
Pass	$	331,921	$	182,329	$	91,230	$	41,856	$	32,625	$	32,609	$	322,674	$	412	$	1,035,656
Special mention		20,064		6,534		5,053		4,702		1,624		2,830		13,614		-		54,421
Substandard		338		6,364		10,219		3,388		791		4,272		9,945		14		35,331
Doubtful		-		-		-		207		-		1		-		-		208
Total C&I	$	352,323	$	195,227	$	106,502	$	50,153	$	35,040	$	39,712	$	346,233	$	426	$	1,125,616
CRE
By internally assigned grade:
Pass	$	469,919	$	361,187	$	256,154	$	271,874	$	212,197	$	383,690	$	113,128	$	4,034	$	2,072,183
Special mention		2,051		44,034		22,260		55,039		36,830		43,537		1,297		11,524		216,572
Substandard		536		5,307		18,298		15,691		6,018		62,168		1,501		4,642		114,161
Doubtful		-		1,897		-		-		-		7,472		-		-		9,369
Total CRE	$	472,506	$	412,425	$	296,712	$	342,604	$	255,045	$	496,867	$	115,926	$	20,200	$	2,412,285
PPP
By internally assigned grade:
Pass	$	430,810	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	430,810
Total PPP	$	430,810	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	430,810
Auto
By payment activity:
Performing	$	197,881	$	314,034	$	201,850	$	115,977	$	45,495	$	13,250	$	22	$	-	$	888,509
Nonperforming		359		1,140		1,135		525		437		-		-		-		3,596
Total auto	$	198,240	$	315,174	$	202,985	$	116,502	$	45,932	$	13,250	$	22	$	-	$	892,105
Other consumer
By payment activity:
Performing	$	234,628	$	178,411	$	127,549	$	55,676	$	14,255	$	17,414	$	18,588	$	71	$	646,592
Nonperforming		339		418		307		265		90		133		10		-		1,562
Total other consumer	$	234,967	$	178,829	$	127,856	$	55,941	$	14,345	$	17,547	$	18,598	$	71	$	648,154
Residential
By payment activity:
Performing	$	237,338	$	210,505	$	213,437	$	182,993	$	164,424	$	684,495	$	268,878	$	9,991	$	1,972,061
Nonperforming		1,245		659		2,318		2,535		902		10,195		-		-		17,854
Total residential	$	238,583	$	211,164	$	215,755	$	185,528	$	165,326	$	694,690	$	268,878	$	9,991	$	1,989,915
Total loans	$	1,927,429	$	1,312,819	$	949,810	$	750,728	$	515,688	$	1,262,066	$	749,657	$	30,688	$	7,498,885

Troubled Debt Restructurings on Financing Receivables

The following tables illustrate the recorded investment and number of modifications designated as TDRs, including the recorded investment in the loans prior to a modification and the recorded investment in the loans after restructuring:

	Three Months Ended June 30, 2021						Three Months Ended June 30, 2020
(Dollars in thousands)	Number of Contracts		Pre- Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment		Number of Contracts		Pre- Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment
Consumer loans:
Auto		1	$	19	$	19		-	$	-	$	-
Total consumer loans		1	$	19	$	19		-	$	-	$	-
Residential		3	$	369	$	423		7	$	269	$	294
Total TDRs		4	$	388	$	442		7	$	269	$	294

	Six Months Ended June 30, 2021						Six Months Ended June 30, 2020
(Dollars in thousands)	Number of Contracts		Pre- Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment		Number of Contracts		Pre- Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment
Consumer loans:
Auto		1	$	19	$	19		1	$	44	$	44
Total consumer loans		1	$	19	$	19		1	$	44	$	44
Residential		6	$	611	$	675		14	$	960	$	1,029
Total TDRs		7	$	630	$	694		15	$	1,004	$	1,073

The following table illustrates the recorded investment and number of modifications for TDRs where a concession has been made and subsequently defaulted during the period:

	Three Months Ended June 30, 2021				Three Months Ended June 30, 2020
(Dollars in thousands)	Number of Contracts		Recorded Investment		Number of Contracts		Recorded Investment
Commercial loans:
CRE		-	$	-		1	$	168
Total commercial loans		-	$	-		1	$	168
Residential		15	$	820		26	$	1,505
Total TDRs		15	$	820		27	$	1,673

	Six Months Ended June 30, 2021				Six Months Ended June 30, 2020
(Dollars in thousands)	Number of Contracts		Recorded Investment		Number of Contracts		Recorded Investment
Commercial loans:
C&I		-	$	-		1	$	387
CRE		-		-		1		168
Total commercial loans		-	$	-		2	$	555
Consumer loans:
Auto		2	$	18		-	$	-
Total consumer loans		2	$	18		-	$	-
Residential		26	$	1,218		38	$	2,192
Total TDRs		28	$	1,236		40	$	2,747