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

6 Months Ended

Jun. 30, 2022

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, 2022	$	28,557		$	43,591		$	17,852		$	90,000
Charge-offs		(447	)		(3,509	)		(90	)		(4,046	)
Recoveries		837			2,117			302			3,256
Provision		3,411			2,741			(1,762	)		4,390
Ending balance as of June 30, 2022	$	32,358		$	44,940		$	16,302		$	93,600
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

(In thousands)	Commercial Loans			Consumer Loans			Residential			Total
Balance as of December 31, 2021	$	28,941		$	44,253		$	18,806		$	92,000
Charge-offs		(1,035	)		(7,100	)		(402	)		(8,537	)
Recoveries		930			3,769			452			5,151
Provision		3,522			4,018			(2,554	)		4,986
Ending balance as of June 30, 2022	$	32,358		$	44,940		$	16,302		$	93,600
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

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, 2022
Commercial loans:
C&I	$	704	$	5	$	37	$	746	$	3,177	$	1,248,962	$	1,252,885
CRE		12,230		5		-		12,235		11,392		2,561,634		2,585,261
PPP		-		-		3		3		-		17,283		17,286
Total commercial loans	$	12,934	$	10	$	40	$	12,984	$	14,569	$	3,827,879	$	3,855,432
Consumer loans:
Auto	$	7,288	$	1,317	$	537	$	9,142	$	1,089	$	896,532	$	906,763
Other consumer		3,255		1,378		919		5,552		332		944,621		950,505
Total consumer loans	$	10,543	$	2,695	$	1,456	$	14,694	$	1,421	$	1,841,153	$	1,857,268
Residential	$	2,034	$	772	$	600	$	3,406	$	7,683	$	2,053,892	$	2,064,981
Total loans	$	25,511	$	3,477	$	2,096	$	31,084	$	23,673	$	7,722,924	$	7,777,681

(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, 2021
Commercial loans:
C&I	$	622	$	-	$	-	$	622	$	3,618	$	1,126,430	$	1,130,670
CRE		1,219		132		-		1,351		12,726		2,550,910		2,564,987
PPP		-		-		-		-		-		101,222		101,222
Total commercial loans	$	1,841	$	132	$	-	$	1,973	$	16,344	$	3,778,562	$	3,796,879
Consumer loans:
Auto	$	6,911	$	1,547	$	545	$	9,003	$	1,295	$	816,210	$	826,508
Other consumer		3,789		1,816		1,105		6,710		233		832,447		839,390
Total consumer loans	$	10,700	$	3,363	$	1,650	$	15,713	$	1,528	$	1,648,657	$	1,665,898
Residential	$	2,481	$	420	$	808	$	3,709	$	12,413	$	2,019,560	$	2,035,682
Total loans	$	15,022	$	3,915	$	2,458	$	21,395	$	30,285	$	7,446,779	$	7,498,459

Credit Quality by Loan Class by Year of Origination (Vintage)

The following tables illustrate the Company’s credit quality by loan class by year of origination (vintage):

(In thousands)	2022		2021		2020		2019		2018		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
As of June 30, 2022
C&I
By internally assigned grade:
Pass	$	202,059	$	281,480	$	195,394	$	104,478	$	47,547	$	39,547	$	341,800	$	7,760	$	1,220,065
Special mention		730		137		2,240		1,478		1,644		1,438		10,526		-		18,193
Substandard		-		1,588		785		3,133		137		4,495		4,382		98		14,618
Doubtful		-		-		-		-		-		9		-		-		9
Total C&I	$	202,789	$	283,205	$	198,419	$	109,089	$	49,328	$	45,489	$	356,708	$	7,858	$	1,252,885
CRE
By internally assigned grade:
Pass	$	196,306	$	472,180	$	421,023	$	340,413	$	228,895	$	627,839	$	130,986	$	60,376	$	2,478,018
Special mention		613		776		809		2,685		4,781		42,689		850		-		53,203
Substandard		-		-		135		4,192		7,945		33,052		4,019		-		49,343
Doubtful		-		-		-		-		-		4,697		-		-		4,697
Total CRE	$	196,919	$	472,956	$	421,967	$	347,290	$	241,621	$	708,277	$	135,855	$	60,376	$	2,585,261
PPP
By internally assigned grade:
Pass	$	-	$	17,283	$	3	$	-	$	-	$	-	$	-	$	-	$	17,286
Total PPP	$	-	$	17,283	$	3	$	-	$	-	$	-	$	-	$	-	$	17,286
Auto
By payment activity:
Performing	$	283,827	$	290,414	$	97,519	$	135,538	$	68,543	$	29,296	$	-	$	-	$	905,137
Nonperforming		152		405		400		377		210		82		-		-		1,626
Total auto	$	283,979	$	290,819	$	97,919	$	135,915	$	68,753	$	29,378	$	-	$	-	$	906,763
Other consumer
By payment activity:
Performing	$	261,318	$	349,126	$	126,781	$	95,652	$	62,567	$	34,103	$	19,048	$	659	$	949,254
Nonperforming		80		440		276		131		186		132		-		6		1,251
Total other consumer	$	261,398	$	349,566	$	127,057	$	95,783	$	62,753	$	34,235	$	19,048	$	665	$	950,505
Residential
By payment activity:
Performing	$	141,614	$	348,291	$	220,386	$	166,254	$	164,916	$	773,359	$	226,559	$	15,319	$	2,056,698
Nonperforming		79		54		666		301		972		6,073		119		19		8,283
Total residential	$	141,693	$	348,345	$	221,052	$	166,555	$	165,888	$	779,432	$	226,678	$	15,338	$	2,064,981
Total loans	$	1,086,778	$	1,762,174	$	1,066,417	$	854,632	$	588,343	$	1,596,811	$	738,289	$	84,237	$	7,777,681

(In thousands)	2021		2020		2019		2018		2017		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
As of December 31, 2021
C&I
By internally assigned grade:
Pass	$	335,685	$	219,931	$	114,617	$	64,310	$	20,137	$	32,146	$	280,476	$	15,731	$	1,083,033
Special mention		148		5,255		4,641		2,430		2,699		1,111		11,835		522		28,641
Substandard		1,482		874		7,010		187		2,582		3,272		3,512		34		18,953
Doubtful		-		-		-		1		42		-		-		-		43
Total C&I	$	337,315	$	226,060	$	126,268	$	66,928	$	25,460	$	36,529	$	295,823	$	16,287	$	1,130,670
CRE
By internally assigned grade:
Pass	$	489,300	$	434,866	$	370,377	$	236,274	$	251,082	$	441,310	$	141,367	$	43,942	$	2,408,518
Special mention		789		826		11,235		3,544		15,379		53,372		780		420		86,345
Substandard		-		77		4,539		12,934		12,424		34,563		744		-		65,281
Doubtful		-		-		-		-		-		4,843		-		-		4,843
Total CRE	$	490,089	$	435,769	$	386,151	$	252,752	$	278,885	$	534,088	$	142,891	$	44,362	$	2,564,987
PPP
By internally assigned grade:
Pass	$	92,884	$	8,338	$	-	$	-	$	-	$	-	$	-	$	-	$	101,222
Total PPP	$	92,884	$	8,338	$	-	$	-	$	-	$	-	$	-	$	-	$	101,222
Auto
By payment activity:
Performing	$	351,778	$	129,419	$	183,959	$	101,441	$	46,007	$	12,064	$	-	$	-	$	824,668
Nonperforming		305		319		457		411		266		82		-		-		1,840
Total auto	$	352,083	$	129,738	$	184,416	$	101,852	$	46,273	$	12,146	$	-	$	-	$	826,508
Other consumer
By payment activity:
Performing	$	427,401	$	151,300	$	116,451	$	78,523	$	29,705	$	15,660	$	19,011	$	1	$	838,052
Nonperforming		216		429		249		134		238		33		18		21		1,338
Total other consumer	$	427,617	$	151,729	$	116,700	$	78,657	$	29,943	$	15,693	$	19,029	$	22	$	839,390
Residential
By payment activity:
Performing	$	345,338	$	226,723	$	179,087	$	179,575	$	146,611	$	687,863	$	246,103	$	11,161	$	2,022,461
Nonperforming		-		1,411		643		1,072		1,534		8,522		-		39		13,221
Total residential	$	345,338	$	228,134	$	179,730	$	180,647	$	148,145	$	696,385	$	246,103	$	11,200	$	2,035,682
Total loans	$	2,045,326	$	1,179,768	$	993,265	$	680,836	$	528,706	$	1,294,841	$	703,846	$	71,871	$	7,498,459

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, 2022						Three Months Ended June 30, 2021
(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		2	$	98	$	123		3	$	369	$	423
Total TDRs		2	$	98	$	123		4	$	388	$	442

	Six Months Ended June 30, 2022						Six Months Ended June 30, 2021
(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		4	$	216	$	247		6	$	611	$	675
Total TDRs		4	$	216	$	247		7	$	630	$	694

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, 2022				Three Months Ended June 30, 2021
(Dollars in thousands)	Number of Contracts		Recorded Investment		Number of Contracts		Recorded Investment
Residential		18	$	890		15	$	820
Total TDRs		18	$	890		15	$	820

	Six Months Ended June 30, 2022				Six Months Ended June 30, 2021
(Dollars in thousands)	Number of Contracts		Recorded Investment		Number of Contracts		Recorded Investment
Consumer loans:
Auto		1	$	11		2	$	18
Total consumer loans		1	$	11		2	$	18
Residential		34	$	1,714		26	$	1,218
Total TDRs		35	$	1,725		28	$	1,236