CREDIT QUALITY ASSESSMENT

3 Months Ended

Mar. 31, 2024

Credit Loss [Abstract]

CREDIT QUALITY ASSESSMENT

CREDIT QUALITY ASSESSMENT

Allowance for Credit Losses

Summary information on the allowance for credit losses on loans for the period indicated is provided in the following table:

	Three Months Ended March 31,
(In thousands)	2024		2023
Balance at beginning of period	$	120,865	$	136,242
Provision/ (credit) for credit losses - loans (1)	3,331		(18,945)
Loan charge-offs	(1,620)		(171)
Loan recoveries	520		487
Net charge-offs	(1,100)		316
Balance at period end	$	123,096	$	117,613

 (1) Excludes the total credit to the provision on unfunded loan commitments for the three months ended March 31, 2024 and March 31, 2023 of $0.9 million and $2.6 million, respectively.

The following table provides summary information regarding collateral dependent loans individually evaluated for credit loss at the dates indicated:

(In thousands)	March 31, 2024		December 31, 2023
Collateral dependent loans individually evaluated for credit loss with an allowance	$	69,068	$	72,179
Collateral dependent loans individually evaluated for credit loss without an allowance	12,047		15,989
Total individually evaluated collateral dependent loans	$	81,115	$	88,168
Allowance for credit losses related to loans evaluated individually	$	20,889	$	24,000
Allowance for credit losses related to loans evaluated collectively	102,207		96,865
Total allowance for credit losses - loans	$	123,096	$	120,865

The following tables provide information on the activity in the allowance for credit losses by the respective loan portfolio segment for the period indicated:

	For the Three Months Ended March 31, 2024
	Commercial Real Estate												Residential Real Estate
(Dollars in thousands)	Commercial Investor R/E			Commercial Owner- Occupied R/E			Commercial AD&C			Commercial Business			Residential Mortgage			Residential Construction			Consumer			Total
Balance at beginning of period	$	61,439		$	7,536		$	8,287		$	31,932		$	8,890		$	729		$	2,052		$	120,865
Provision/ (credit) for credit losses - loans	2,858			(656)			2,275			(1,345)			195			(306)			310			3,331
Charge-offs	(1)			—			—			(1,551)			—			—			(68)			(1,620)
Recoveries	3			27			283			1			6			—			200			520
Net (charge-offs)/ recoveries	2			27			283			(1,550)			6			—			132			(1,100)
Balance at end of period	$	64,299		$	6,907		$	10,845		$	29,037		$	9,091		$	423		$	2,494		$	123,096
Total loans	$	4,997,879		$	1,741,113		$	1,090,259		$	1,509,592		$	1,511,624		$	97,685		$	416,132		$	11,364,284
Allowance for credit losses on loans to total loans ratio	1.29		%	0.40		%	0.99		%	1.92		%	0.60		%	0.43		%	0.60		%	1.08		%
Average loans	$	5,057,334		$	1,746,042		$	1,030,763		$	1,508,336		$	1,491,277		$	110,456		$	417,539		$	11,361,747
Annualized net charge-offs/ (recoveries) to average loans	—		%	(0.01)		%	(0.11)		%	0.41		%	—		%	—		%	(0.13)		%	0.04		%
Balance of loans individually evaluated for credit loss	$	69,000		$	4,394		$	557		$	7,164		$	—		$	—		$	—		$	81,115
Allowance related to loans evaluated individually	$	14,874		$	1,126		$	102		$	4,787		$	—		$	—		$	—		$	20,889
Individual allowance to loans evaluated individually ratio	21.56		%	25.63		%	18.31		%	66.82		%	—		%	—		%	—		%	25.75		%
Contractual balance of individually evaluated loans	$	69,831		$	5,416		$	581		$	9,535		$	—		$	—		$	—		$	85,363
Balance of loans collectively evaluated for credit loss	$	4,928,879		$	1,736,719		$	1,089,702		$	1,502,428		$	1,511,624		$	97,685		$	416,132		$	11,283,169
Allowance related to loans evaluated collectively	$	49,425		$	5,781		$	10,743		$	24,250		$	9,091		$	423		$	2,494		$	102,207
Collective allowance to loans evaluated collectively ratio	1.00		%	0.33		%	0.99		%	1.61		%	0.60		%	0.43		%	0.60		%	0.91		%

	For the Year Ended December 31, 2023
	Commercial Real Estate												Residential Real Estate
(Dollars in thousands)	Commercial Investor R/E			Commercial Owner- Occupied R/E			Commercial AD&C			Commercial Business			Residential Mortgage			Residential Construction			Consumer			Total
Balance at beginning of period	$	64,737		$	11,646		$	18,646		$	28,027		$	9,424		$	1,337		$	2,425		$	136,242
Provision for credit losses - loans	(3,323)			(4,215)			(10,359)			4,051			(488)			(608)			1,048			(13,894)
Charge-offs	—			—			—			(449)			(160)			—			(2,005)			(2,614)
Recoveries	25			105			—			303			114			—			584			1,131
Net (charge-offs)/ recoveries	25			105			—			(146)			(46)			—			(1,421)			(1,483)
Balance at end of period	$	61,439		$	7,536		$	8,287		$	31,932		$	8,890		$	729		$	2,052		$	120,865
Total loans	$	5,104,425		$	1,755,235		$	988,967		$	1,504,880		$	1,474,521		$	121,419		$	417,542		$	11,366,989
Allowance for credit losses on loans to total loans ratio	1.20		%	0.43		%	0.84		%	2.12		%	0.60		%	0.60		%	0.49		%	1.06		%
Average loans	$	5,133,279		$	1,766,839		$	1,023,669		$	1,440,382		$	1,380,496		$	187,599		$	421,963		$	11,354,227
Net charge-offs/ (recoveries) to average loans	—		%	(0.01)		%	—		%	0.01		%	—		%	—		%	0.34		%	0.01		%
Balance of loans individually evaluated for credit loss	$	72,218		$	4,640		$	1,259		$	10,051		$	—		$	—		$	—		$	88,168
Allowance related to loans evaluated individually	$	15,353		$	1,159		$	102		$	7,386		$	—		$	—		$	—		$	24,000
Individual allowance to loans evaluated individually ratio	21.26		%	24.98		%	8.10		%	73.49		%	—		%	—		%	—		%	27.22		%
Contractual balance of individually evaluated loans	$	72,712		$	5,623		$	1,270		$	11,500		$	—		$	—		$	—		$	91,105
Balance of loans collectively evaluated for credit loss	$	5,032,207		$	1,750,595		$	987,708		$	1,494,829		$	1,474,521		$	121,419		$	417,542		$	11,278,821
Allowance related to loans evaluated collectively	$	46,086		$	6,377		$	8,185		$	24,546		$	8,890		$	729		$	2,052		$	96,865
Collective allowance to loans evaluated collectively ratio	0.92		%	0.36		%	0.83		%	1.64		%	0.60		%	0.60		%	0.49		%	0.86		%

Credit Quality

The following tables provide information on the credit quality of the loan portfolio for the periods indicated below:

	For the Three Months Ended March 31, 2024
	Commercial Real Estate								Residential Real Estate
(In thousands)	Commercial Investor R/E		Commercial Owner- Occupied R/E		Commercial AD&C		Commercial Business		Residential Mortgage		Residential Construction		Consumer		Total
Analysis of non-accrual loan activity:
Balance at beginning of period	$	58,658	$	4,640	$	1,259	$	10,051	$	12,332	$	443	$	4,102	$	91,485
Loans placed on non-accrual	715		—		—		25		362		—		388		1,490
Non-accrual balances transferred to OREO	(2,700)		—		—		—		—		—		—		(2,700)
Non-accrual balances charged-off	(1)		—		—		(1,549)		—		—		—		(1,550)
Net payments or draws	(1,093)		(246)		(703)		(1,363)		(288)		99		(423)		(4,017)
Non-accrual loans brought current	—		—		—		—		(571)		—		(56)		(627)
Balance at end of period	$	55,579	$	4,394	$	556	$	7,164	$	11,835	$	542	$	4,011	$	84,081

	For the Year Ended December 31, 2023
	Commercial Real Estate								Residential Real Estate
(In thousands)	Commercial Investor R/E		Commercial Owner- Occupied R/E		Commercial AD&C		Commercial Business		Residential Mortgage		Residential Construction		Consumer		Total
Analysis of non-accrual loan activity:
Balance at beginning of period	$	9,943	$	5,019	$	—	$	7,322	$	7,439	$	—	$	5,059	$	34,782
Loans placed on non-accrual	62,725		—		2,111		6,271		7,871		449		2,450		81,877
Non-accrual balances transferred to OREO	—		—		—		—		—		—		—		—
Non-accrual balances charged-off	—		—		—		(441)		(160)		—		(1,757)		(2,358)
Net payments or draws	(14,010)		(379)		(852)		(2,588)		(1,667)		(6)		(1,528)		(21,030)
Non-accrual loans brought current	—		—		—		(513)		(1,151)		—		(122)		(1,786)
Balance at end of period	$	58,658	$	4,640	$	1,259	$	10,051	$	12,332	$	443	$	4,102	$	91,485

	March 31, 2024
	Commercial Real Estate								Residential Real Estate
(In thousands)	Commercial Investor R/E		Commercial Owner- Occupied R/E		Commercial AD&C		Commercial Business		Residential Mortgage		Residential Construction		Consumer		Total
Performing loans:
Current	$	4,932,570	$	1,729,205	$	1,083,907	$	1,499,245	$	1,486,341	$	96,404	$	410,662	$	11,238,334
30-59 days	9,681		1,538		5,796		1,658		12,336		739		989		32,737
60-89 days	49		5,976		—		1,505		772		—		470		8,772
Total performing loans	4,942,300		1,736,719		1,089,703		1,502,408		1,499,449		97,143		412,121		11,279,843
Non-performing loans:
Non-accrual loans	55,579		4,394		556		7,164		11,835		542		4,011		84,081
Loans greater than 90 days past due	—		—		—		20		340		—		—		360
Total non-performing loans	55,579		4,394		556		7,184		12,175		542		4,011		84,441
Total loans	$	4,997,879	$	1,741,113	$	1,090,259	$	1,509,592	$	1,511,624	$	97,685	$	416,132	$	11,364,284

	December 31, 2023
	Commercial Real Estate								Residential Real Estate
(In thousands)	Commercial Investor R/E		Commercial Owner- Occupied R/E		Commercial AD&C		Commercial Business		Residential Mortgage		Residential Construction		Consumer		Total
Performing loans:
Current	$	5,044,647	$	1,748,449	$	986,859	$	1,494,426	$	1,445,785	$	118,976	$	409,607	$	11,248,749
30-59 days	1,120		2,056		849		383		14,026		2,000		3,298		23,732
60-89 days	—		90		—		—		2,036		—		535		2,661
Total performing loans	5,045,767		1,750,595		987,708		1,494,809		1,461,847		120,976		413,440		11,275,142
Non-performing loans:
Non-accrual loans	58,658		4,640		1,259		10,051		12,332		443		4,102		91,485
Loans greater than 90 days past due	—		—		—		20		342		—		—		362
Total non-performing loans	58,658		4,640		1,259		10,071		12,674		443		4,102		91,847
Total loans	$	5,104,425	$	1,755,235	$	988,967	$	1,504,880	$	1,474,521	$	121,419	$	417,542	$	11,366,989

The following tables present the average principal balance of total non-accrual loans and contractual interest due on non-accrual loans for the periods indicated below:

	For the Three Months Ended March 31, 2024
	Commercial Real Estate								Residential Real Estate
(In thousands)	Commercial Investor R/E		Commercial Owner- Occupied R/E		Commercial AD&C		Commercial Business		Residential Mortgage		Residential Construction		Consumer		Total
Average non-accrual loans for the period	$	57,119	$	4,517	$	908	$	8,608	$	12,084	$	493	$	4,057	$	87,786
Contractual interest income due on non- accrual loans during the period	$	923	$	71	$	14	$	154	$	149	$	6	$	97	$	1,414

	For the Year Ended December 31, 2023
	Commercial Real Estate								Residential Real Estate
(In thousands)	Commercial Investor R/E		Commercial Owner- Occupied R/E		Commercial AD&C		Commercial Business		Residential Mortgage		Residential Construction		Consumer		Total
Average non-accrual loans for the period	$	28,650	$	4,795	$	812	$	9,640	$	10,547	$	223	$	4,146	$	58,813
Contractual interest income due on non- accrual loans during the period	$	760	$	298	$	41	$	716	$	432	$	6	$	299	$	2,552

There was no interest income recognized on non-accrual loans during the three months ended March 31, 2024. See Note 1 for additional information on the Company's policies for non-accrual loans. Loans designated as non-accrual have all previously accrued but unpaid interest reversed from interest income. During the three months ended March 31, 2024 new loans placed on non-accrual status totaled $1.5 million and the related amount of reversed uncollected accrued interest was insignificant.

The credit quality indicators for commercial loans are developed through review of individual borrowers on an ongoing basis. Each borrower is evaluated at least annually with more frequent evaluations of classified and criticized loans. The indicators represent the rating for loans as of the date presented and are based on the most recent credit review performed. These credit quality indicators are defined as follows:

Pass - A pass rated credit is not adversely classified because it does not display any of the characteristics for adverse classification.

Special mention – A special mention credit has potential weaknesses that deserve management’s close attention. If uncorrected, such weaknesses may result in deterioration of the repayment prospects or collateral position at some future date. Special mention assets are not adversely classified and do not warrant adverse classification.

Substandard – A substandard loan is inadequately protected by the current net worth and payment capacity of the obligor or of the collateral pledged, if any. Loans classified as substandard generally have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. These loans are characterized by the distinct possibility of loss if the deficiencies are not corrected.

Doubtful – A loan that is classified as doubtful has all the weaknesses inherent in a loan classified as substandard with added characteristics that the weaknesses make collection or liquidation in full highly questionable and improbable, on the basis of currently existing facts, conditions and values.

Loss – Loans classified as a loss are considered uncollectible and of such little value that their continuing to be carried as a loan is not warranted. This classification is not necessarily equivalent to no potential for recovery or salvage value, but rather that it is not appropriate to defer a full write-off even though partial recovery may be effected in the future.

The following table provides information about credit quality indicators by the year of origination as of March 31, 2024:

	March 31, 2024
	Term Loans by Origination Year												Revolving
(In thousands)	2024		2023		2022		2021		2020		Prior		Loans		Total
Commercial Investor R/E:
Pass	$	109,352	$	361,098	$	1,345,217	$	1,168,206	$	599,290	$	1,294,814	$	26,478	$	4,904,455
Special Mention	861		6,229		—		723		1,005		7,148		—		15,966
Substandard	24,391		10,166		461		28,036		—		14,404		—		77,458
Doubtful	—		—		—		—		—		—		—		—
Total	$	134,604	$	377,493	$	1,345,678	$	1,196,965	$	600,295	$	1,316,366	$	26,478	$	4,997,879
Current period gross charge-offs	$	—	$	—	$	—	$	1	$	—	$	—	$	—	$	1
Commercial Owner-Occupied R/E:
Pass	$	35,074	$	121,759	$	355,379	$	311,954	$	236,043	$	649,493	$	5,644	$	1,715,346
Special Mention	—		2,162		69		2,234		872		5,108		—		10,445
Substandard	—		586		2,858		797		340		10,741		—		15,322
Doubtful	—		—		—		—		—		—		—		—
Total	$	35,074	$	124,507	$	358,306	$	314,985	$	237,255	$	665,342	$	5,644	$	1,741,113
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial AD&C:
Pass	$	92,911	$	327,688	$	356,865	$	172,284	$	5,429	$	—	$	133,678	$	1,088,855
Special Mention	—		—		—		—		—		—		525		525
Substandard	122		323		434		—		—		—		—		879
Doubtful	—		—		—		—		—		—		—		—
Total	$	93,033	$	328,011	$	357,299	$	172,284	$	5,429	$	—	$	134,203	$	1,090,259
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial Business:
Pass	$	78,623	$	217,077	$	335,793	$	176,699	$	86,378	$	171,698	$	418,680	$	1,484,948
Special Mention	177		647		130		491		762		1,198		3,350		6,755
Substandard	87		5,339		1,072		2,234		949		2,590		5,618		17,889
Doubtful	—		—		—		—		—		—		—		—
Total	$	78,887	$	223,063	$	336,995	$	179,424	$	88,089	$	175,486	$	427,648	$	1,509,592
Current period gross charge-offs	$	—	$	—	$	612	$	—	$	—	$	939	$	—	$	1,551
Residential Mortgage:
Beacon score:
660-850	$	7,224	$	38,452	$	498,423	$	394,110	$	162,827	$	304,763	$	—	$	1,405,799
600-659	293		613		15,375		17,473		4,305		24,462		—		62,521
540-599	—		1,203		357		3,566		2,437		9,714		—		17,277
less than 540	278		227		2,032		4,892		1,623		16,975		—		26,027
Total	$	7,795	$	40,495	$	516,187	$	420,041	$	171,192	$	355,914	$	—	$	1,511,624
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Residential Construction:
Beacon score:
660-850	$	1,768	$	25,593	$	42,790	$	19,872	$	1,956	$	1,458	$	—	$	93,437
600-659	542		346		1,817		—		1,500		—		—		4,205
540-599	43		—		—		—		—		—		—		43
less than 540	—		—		—		—		—		—		—		—
Total	$	2,353	$	25,939	$	44,607	$	19,872	$	3,456	$	1,458	$	—	$	97,685
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Consumer:
Beacon score:
660-850	$	1,409	$	10,606	$	4,476	$	1,717	$	740	$	25,997	$	331,206	$	376,151
600-659	11		1,154		357		94		241		3,873		14,047		19,777
540-599	13		477		284		73		34		2,298		4,460		7,639
less than 540	76		356		332		298		117		2,760		8,626		12,565
Total	$	1,509	$	12,593	$	5,449	$	2,182	$	1,132	$	34,928	$	358,339	$	416,132
Current period gross charge-offs	$	—	$	—	$	—	$	5	$	—	$	11	$	52	$	68
Total loans	$	353,255	$	1,132,101	$	2,964,521	$	2,305,753	$	1,106,848	$	2,549,494	$	952,312	$	11,364,284

 The following table provides information about credit quality indicators by the year of origination as of December 31, 2023:

	December 31, 2023
	Term Loans by Origination Year												Revolving
(In thousands)	2023		2022		2021		2020		2019		Prior		Loans		Total
Commercial Investor R/E:
Pass	$	405,740	$	1,395,973	$	1,195,708	$	634,361	$	511,146	$	848,958	$	23,653	$	5,015,539
Special Mention	9,250		—		316		—		—		1,978		—		11,544
Substandard	30,792		465		30,927		—		—		14,410		748		77,342
Doubtful	—		—		—		—		—		—		—		—
Total	$	445,782	$	1,396,438	$	1,226,951	$	634,361	$	511,146	$	865,346	$	24,401	$	5,104,425
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial Owner-Occupied R/E:
Pass	$	136,072	$	361,247	$	318,269	$	238,761	$	235,145	$	428,846	$	5,621	$	1,723,961
Special Mention	406		70		2,240		875		2,267		8,616		—		14,474
Substandard	2,562		3,634		801		343		5,866		3,594		—		16,800
Doubtful	—		—		—		—		—		—		—		—
Total	$	139,040	$	364,951	$	321,310	$	239,979	$	243,278	$	441,056	$	5,621	$	1,755,235
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial AD&C:
Pass	$	334,918	$	288,732	$	178,889	$	28,954	$	—	$	—	$	155,889	$	987,382
Special Mention	—		—		—		—		—		—		—		—
Substandard	1,016		569		—		—		—		—		—		1,585
Doubtful	—		—		—		—		—		—		—		—
Total	$	335,934	$	289,301	$	178,889	$	28,954	$	—	$	—	$	155,889	$	988,967
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial Business:
Pass	$	247,081	$	344,034	$	202,020	$	92,198	$	62,413	$	118,061	$	410,856	$	1,476,663
Special Mention	532		45		180		1,037		1,040		294		3,635		6,763
Substandard	6,725		2,073		2,281		917		1,925		1,571		5,962		21,454
Doubtful	—		—		—		—		—		—		—		—
Total	$	254,338	$	346,152	$	204,481	$	94,152	$	65,378	$	119,926	$	420,453	$	1,504,880
Current period gross charge-offs	$	—	$	9	$	324	$	—	$	—	$	116	$	—	$	449
Residential Mortgage:
Beacon score:
660-850	$	31,853	$	476,631	$	394,414	$	166,387	$	41,473	$	266,927	$	—	$	1,377,685
600-659	781		7,022		18,284		2,009		1,882		24,040		—		54,018
540-599	—		1,545		2,698		2,371		1,891		9,377		—		17,882
less than 540	229		2,042		3,351		2,424		2,533		14,357		—		24,936
Total	$	32,863	$	487,240	$	418,747	$	173,191	$	47,779	$	314,701	$	—	$	1,474,521
Current period gross charge-offs	$	—	$	—	$	43	$	—	$	10	$	107	$	—	$	160
Residential Construction:
Beacon score:
660-850	$	21,975	$	68,273	$	21,897	$	2,478	$	150	$	—	$	—	$	114,773
600-659	1,641		500		1,319		1,500		—		1,243		—		6,203
540-599	443		—		—		—		—		—		—		443
less than 540	—		—		—		—		—		—		—		—
Total	$	24,059	$	68,773	$	23,216	$	3,978	$	150	$	1,243	$	—	$	121,419
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Consumer:
Beacon score:
660-850	$	11,452	$	4,960	$	1,823	$	519	$	1,662	$	24,543	$	333,382	$	378,341
600-659	1,209		192		237		425		209		3,954		12,668		18,894
540-599	24		374		87		47		500		2,868		5,920		9,820
less than 540	384		215		132		50		288		2,803		6,615		10,487
Total	$	13,069	$	5,741	$	2,279	$	1,041	$	2,659	$	34,168	$	358,585	$	417,542
Current period gross charge-offs	$	—	$	20	$	28	$	—	$	15	$	1,735	$	207	$	2,005
Total loans	$	1,245,085	$	2,958,596	$	2,375,873	$	1,175,656	$	870,390	$	1,776,440	$	964,949	$	11,366,989

Modifications to Borrowers Experiencing Financial Difficulty

As a part of our risk management practices, we may consider modifying a loan for a borrower experiencing a financial difficulty that provides a certain degree of a payment relief. Modification types primarily include a reduction in the interest rate or an extension of the existing term. We do not provide modifications that result in the reduction of the outstanding principal balance.

The following table presents the amount of the loans modified during the periods indicated below to borrowers experiencing financial difficulty, disaggregated by the loan portfolio segment, type of modification granted and the financial effect of loans modified:

	For the Three Months Ended March 31, 2024
	Interest rate reduction		Term extension		Rate reduction & Term extension		Total				Interest rate reduction		Term extension
(in thousands)	Amount		Amount		Amount		Amount		% of total loan segment		Weighted Average		Weighted Average
Commercial Investor R/E	$	—	$	25,252	$	—	$	25,252	0.5	%	—	%	6 Months
Commercial Owner-Occupied R/E	—		—		—		—		—	%	—	%	—
Commercial AD&C	—		122		—		122		—	%	—	%	17 Months
Commercial Business	—		87		143		230		—	%	0.4	%	27 Months
All Other loans	—		542		—		542		—	%	—	%	9 Months
Total	$	—	$	26,003	$	143	$	26,146	0.2	%

	For the Three Months Ended March 31, 2023
	Interest rate reduction		Term extension		Rate reduction & Term extension		Total				Interest rate reduction		Term extension
(in thousands)	Amount		Amount		Amount		Amount		% of total loan segment		Weighted Average		Weighted Average
Commercial Investor R/E	$	—	$	68	$	—	$	68	—	%	—	%	6 Months
Commercial Owner-Occupied R/E	—		—		—		—		—	%	—	%	—
Commercial AD&C	—		—		—		—		—	%	—	%	—
Commercial Business	—		94		—		94		—	%	—	%	12 Months
All Other loans	—		—		—		—		—	%	—	%	—
Total	$	—	$	162	$	—	$	162	—	%

Unfunded loan commitments on modifications for borrowers experiencing financial difficulty totaled $0.1 million at March 31, 2024. These commitments are not included in the table above.

The following table presents the performance of loans that have been modified during the periods indicated:

	For the three months ended March 31, 2024
(in thousands)	Current		30-89 days past due		90+ days past due		Non-accrual		Total
Commercial Investor R/E	$	25,252	$	—	$	—	$	—	$	25,252
Commercial Owner-Occupied R/E	—		—		—		—		—
Commercial AD&C	122		—		—		—		122
Commercial Business	230		—		—		—		230
All Other loans	542		—		—		—		542
Total	$	26,146	$	—	$	—	$	—	$	26,146

	For the three months ended March 31, 2023
(in thousands)	Current		30-89 days past due		90+ days past due		Non-accrual		Total
Commercial Investor R/E	$	68	$	—	$	—	$	—	$	68
Commercial Owner-Occupied R/E	—		—		—		—		—
Commercial AD&C	—		—		—		—		—
Commercial Business	94		—		—		—		94
All Other loans	—		—		—		—		—
Total	$	162	$	—	$	—	$	—	$	162

There were no loans that defaulted (defined as new non-accrual or 90 days past due) during the three months ended March 31, 2024 and that had been modified in the form of principal forgiveness, an interest rate reduction, an other-than-insignificant payment delay, or a term extension (or a combination thereof) within the previous 12 months preceding the payment default when the debtor was experiencing financial difficulty at the time of the modification.

Other Real Estate Owned

Other real estate owned ("OREO") totaled $2.7 million at March 31, 2024 as compared to none at December 31, 2023. There were $0.2 million in consumer mortgage loans secured by residential real estate property for which formal foreclosure proceedings were in process as of March 31, 2024.