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

9 Months Ended

Sep. 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 June 30, 2021	$	44,191		$	34,881		$	19,428		$	98,500
Charge-offs		(1,492	)		(3,083	)		(312	)		(4,887	)
Recoveries		354			2,143			232			2,729
Provision		(9,875	)		7,130			(597	)		(3,342	)
Ending balance as of September 30, 2021	$	33,178		$	41,071		$	18,751		$	93,000
Balance as of June 30, 2020	$	50,386		$	40,094		$	23,020		$	113,500
Charge-offs		(624	)		(4,097	)		(58	)		(4,779	)
Recoveries		333			2,123			62			2,518
Provision		1,651			442			1,168			3,261
Ending balance as of September 30, 2020	$	51,746		$	38,562		$	24,192		$	114,500

(In thousands)	Commercial Loans			Consumer Loans			Residential			Total
Balance as of December 31, 2020	$	50,942		$	37,803		$	21,255		$	110,000
Charge-offs		(2,123	)		(10,702	)		(731	)		(13,556	)
Recoveries		533			6,506			871			7,910
Provision		(16,174	)		7,464			(2,644	)		(11,354	)
Ending balance as of September 30, 2021	$	33,178		$	41,071		$	18,751		$	93,000
Balance as of January 1, 2020 (after adoption of ASC 326)	$	27,156		$	32,122		$	16,721		$	75,999
Charge-offs		(2,353	)		(17,166	)		(863	)		(20,382	)
Recoveries		674			6,168			300			7,142
Provision		26,269			17,438			8,034			51,741
Ending balance as of September 30, 2020	$	51,746		$	38,562		$	24,192		$	114,500

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 September 30, 2021
Commercial loans:
C&I	$	2,518	$	106	$	-	$	2,624	$	4,261	$	1,110,920	$	1,117,805
CRE		11,759		1,754		441		13,954		16,084		2,528,193		2,558,231
PPP		-		-		-		-		-		276,195		276,195
Total commercial loans	$	14,277	$	1,860	$	441	$	16,578	$	20,345	$	3,915,308	$	3,952,231
Consumer loans:
Auto	$	6,455	$	1,110	$	580	$	8,145	$	1,407	$	829,585	$	839,137
Other consumer		3,473		2,003		810		6,286		210		748,241		754,737
Total consumer loans	$	9,928	$	3,113	$	1,390	$	14,431	$	1,617	$	1,577,826	$	1,593,874
Residential	$	1,879	$	734	$	1,109	$	3,722	$	13,775	$	2,002,840	$	2,020,337
Total loans	$	26,084	$	5,707	$	2,940	$	34,731	$	35,737	$	7,495,974	$	7,566,442

(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 September 30, 2021
C&I
By internally assigned grade:
Pass	$	258,044	$	256,285	$	127,995	$	71,024	$	23,541	$	40,962	$	282,471	$	6,724	$	1,067,046
Special mention		163		4,277		5,157		3,339		3,063		3,381		8,477		-		27,857
Substandard		14		367		7,286		1,684		2,675		2,939		2,796		4,829		22,590
Doubtful		-		-		-		126		185		1		-		-		312
Total C&I	$	258,221	$	260,929	$	140,438	$	76,173	$	29,464	$	47,283	$	293,744	$	11,553	$	1,117,805
CRE
By internally assigned grade:
Pass	$	325,092	$	453,138	$	390,834	$	249,362	$	264,620	$	486,685	$	152,622	$	16,661	$	2,339,014
Special mention		796		933		21,467		4,747		20,344		67,530		1,140		-		116,957
Substandard		-		79		15,692		15,555		12,541		50,428		1,239		-		95,534
Doubtful		-		-		-		-		-		6,726		-		-		6,726
Total CRE	$	325,888	$	454,150	$	427,993	$	269,664	$	297,505	$	611,369	$	155,001	$	16,661	$	2,558,231
PPP
By internally assigned grade:
Pass	$	256,940	$	19,255	$	-	$	-	$	-	$	-	$	-	$	-	$	276,195
Total PPP	$	256,940	$	19,255	$	-	$	-	$	-	$	-	$	-	$	-	$	276,195
Auto
By payment activity:
Performing	$	280,805	$	145,585	$	211,921	$	121,108	$	59,047	$	18,684	$	-	$	-	$	837,150
Nonperforming		148		320		712		538		269		-		-		-		1,987
Total auto	$	280,953	$	145,905	$	212,633	$	121,646	$	59,316	$	18,684	$	-	$	-	$	839,137
Other consumer
By payment activity:
Performing	$	298,505	$	166,111	$	128,954	$	88,311	$	34,858	$	18,447	$	18,516	$	15	$	753,717
Nonperforming		96		290		235		96		191		109		3		-		1,020
Total other consumer	$	298,601	$	166,401	$	129,189	$	88,407	$	35,049	$	18,556	$	18,519	$	15	$	754,737
Residential
By payment activity:
Performing	$	263,254	$	229,961	$	187,776	$	185,798	$	155,725	$	722,718	$	248,727	$	11,494	$	2,005,453
Nonperforming		-		1,530		733		1,772		1,632		9,086		39		92		14,884
Total residential	$	263,254	$	231,491	$	188,509	$	187,570	$	157,357	$	731,804	$	248,766	$	11,586	$	2,020,337
Total loans	$	1,683,857	$	1,278,131	$	1,098,762	$	743,460	$	578,691	$	1,427,696	$	716,030	$	39,815	$	7,566,442

(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 September 30, 2021						Three Months Ended September 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	$	20	$	20		-	$	-	$	-
Total consumer loans		1	$	20	$	20		-	$	-	$	-
Residential		3	$	460	$	507		10	$	659	$	715
Total TDRs		4	$	480	$	527		10	$	659	$	715

	Nine Months Ended September 30, 2021						Nine Months Ended September 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		2	$	38	$	38		1	$	44	$	44
Total consumer loans		2	$	38	$	38		1	$	44	$	44
Residential		9	$	1,071	$	1,183		24	$	1,619	$	1,745
Total TDRs		11	$	1,109	$	1,221		25	$	1,663	$	1,789

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 September 30, 2021				Three Months Ended September 30, 2020
(Dollars in thousands)	Number of Contracts		Recorded Investment		Number of Contracts		Recorded Investment
Residential		19	$	1,401		9	$	299
Total TDRs		19	$	1,401		9	$	299

	Nine Months Ended September 30, 2021				Nine Months Ended September 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		39	$	2,356		45	$	2,280
Total TDRs		41	$	2,374		47	$	2,835