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

3 Months Ended

Mar. 31, 2025

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

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

(In thousands)	Commercial Loans			Consumer Loans			Residential			Total
Balance as of December 31, 2024	$	45,453		$	43,987		$	26,560		$	116,000
Charge-offs		(2,222	)		(5,876	)		(57	)		(8,155	)
Recoveries		107			1,406			88			1,601
Provision		5,392			2,179			(17	)		7,554
Ending Balance as of March 31, 2025	$	48,730		$	41,696		$	26,574		$	117,000

Balance as of December 31, 2023	$	45,903		$	46,427		$	22,070		$	114,400
Charge-offs		(985	)		(5,581	)		(114	)		(6,680	)
Recoveries		198			1,651			152			2,001
Provision		(644	)		4,922			1,301			5,579
Ending Balance as of March 31, 2024	$	44,472		$	47,419		$	23,409		$	115,300

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 March 31, 2025
Commercial loans:
C&I	$	1,015	$	145	$	-	$	1,160	$	2,261	$	1,434,275	$	1,437,696
CRE		4,194		322		690		5,206		28,325		3,670,612		3,704,143
Total commercial loans	$	5,209	$	467	$	690	$	6,366	$	30,586	$	5,104,887	$	5,141,839
Consumer loans:
Auto	$	9,863	$	1,778	$	972	$	12,613	$	1,925	$	1,267,358	$	1,281,896
Residential solar		3,780		1,735		553		6,068		127		793,895		800,090
Other consumer		1,425		683		381		2,489		218		97,594		100,301
Total consumer loans	$	15,068	$	4,196	$	1,906	$	21,170	$	2,270	$	2,158,847	$	2,182,287
Residential	$	3,733	$	562	$	266	$	4,561	$	11,973	$	2,639,607	$	2,656,141
Total loans	$	24,010	$	5,225	$	2,862	$	32,097	$	44,829	$	9,903,341	$	9,980,267

(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, 2024
Commercial loans:
C&I	$	398	$	452	$	-	$	850	$	2,116	$	1,427,247	$	1,430,213
CRE		698		191		-		889		30,028		3,665,223		3,696,140
Total commercial loans	$	1,096	$	643	$	-	$	1,739	$	32,144	$	5,092,470	$	5,126,353
Consumer loans:
Auto	$	11,527	$	2,047	$	900	$	14,474	$	2,054	$	1,228,378	$	1,244,906
Residential solar		4,066		1,991		1,599		7,656		212		812,211		820,079
Other consumer		1,552		985		888		3,425		263		105,529		109,217
Total consumer loans	$	17,145	$	5,023	$	3,387	$	25,555	$	2,529	$	2,146,118	$	2,174,202
Residential	$	3,360	$	467	$	2,411	$	6,238	$	11,146	$	2,651,971	$	2,669,355
Total loans	$	21,601	$	6,133	$	5,798	$	33,532	$	45,819	$	9,890,559	$	9,969,910

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

The following tables illustrate the Company’s credit quality by loan class by vintage and includes gross charge-offs by loan class by vintage. Included in other consumer gross charge-offs for the three months ended March 31, 2025, the Company recorded $0.3 million in overdrawn deposit accounts reported as 2024 originations. Included in other consumer gross charge-offs for the year ended December 31, 2024, the Company recorded $0.2 million in overdrawn deposit accounts reported as 2023 originations and $0.7 million in overdrawn deposit accounts reported as 2024 originations.

(In thousands)	2025		2024			2023			2022			2021			Prior			Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
As of March 31, 2025
C&I
By internally assigned grade:
Pass	$	55,246	$	231,494		$	153,167		$	167,191		$	163,502		$	203,561		$	393,135	$	4,780	$	1,372,076
Special mention		-		966			916			4,094			148			5,448			13,499		-		25,071
Substandard		330		4,247			4,032			3,354			1,359			4,217			22,572		358		40,469
Doubtful		-		-			67			2			9			2			-		-		80
Total C&I	$	55,576	$	236,707		$	158,182		$	174,641		$	165,018		$	213,228		$	429,206	$	5,138	$	1,437,696
Current-period gross charge-offs	$	-	$	-		$	(45	)	$	(5	)	$	-		$	(72	)	$	-	$	-	$	(122	)
CRE
By internally assigned grade:
Pass	$	67,722	$	402,959		$	365,237		$	550,145		$	515,537		$	1,273,081		$	293,804	$	40,029	$	3,508,514
Special mention		-		3,632			9,924			26,372			7,485			34,190			1,897		-		83,500
Substandard		657		2,671			6,051			19,130			18,007			63,798			1,519		296		112,129
Total CRE	$	68,379	$	409,262		$	381,212		$	595,647		$	541,029		$	1,371,069		$	297,220	$	40,325	$	3,704,143
Current-period gross charge-offs	$	-	$	-		$	-		$	-		$	-		$	(2,100	)	$	-	$	-	$	(2,100	)
Auto
By payment activity:
Performing	$	176,401	$	503,155		$	290,000		$	209,548		$	75,676		$	24,219		$	-	$	-	$	1,278,999
Nonperforming		57		898			830			621			360			131			-		-		2,897
Total auto	$	176,458	$	504,053		$	290,830		$	210,169		$	76,036		$	24,350		$	-	$	-	$	1,281,896
Current-period gross charge-offs	$	-	$	(311	)	$	(391	)	$	(540	)	$	(273	)	$	(89	)	$	-	$	-	$	(1,604	)
Residential solar
By payment activity:
Performing	$	2,802	$	2,435		$	117,592		$	390,848		$	163,034		$	122,699		$	-	$	-	$	799,410
Nonperforming		-		-			68			392			150			70			-		-		680
Total residential solar	$	2,802	$	2,435		$	117,660		$	391,240		$	163,184		$	122,769		$	-	$	-	$	800,090
Current-period gross charge-offs	$	-	$	-		$	(245	)	$	(1,481	)	$	(481	)	$	(347	)	$	-	$	-	$	(2,554	)
Other consumer
By payment activity:
Performing	$	5,761	$	12,078		$	5,837		$	9,212		$	22,565		$	22,409		$	21,819	$	21	$	99,702
Nonperforming		-		22			20			102			169			265			7		14		599
Total other consumer	$	5,761	$	12,100		$	5,857		$	9,314		$	22,734		$	22,674		$	21,826	$	35	$	100,301
Current-period gross charge-offs	$	-	$	(307	)	$	-		$	(376	)	$	(612	)	$	(423	)	$	-	$	-	$	(1,718	)
Residential
By payment activity:
Performing	$	28,955	$	189,982		$	227,910		$	363,471		$	414,318		$	1,141,607		$	265,605	$	12,054	$	2,643,902
Nonperforming		-		606			764			539			2,237			7,699			-		394		12,239
Total residential	$	28,955	$	190,588		$	228,674		$	364,010		$	416,555		$	1,149,306		$	265,605	$	12,448	$	2,656,141
Current-period gross charge-offs	$	-	$	(16	)	$	(41	)	$	-		$	-		$	-		$	-	$	-	$	(57	)
Total loans	$	337,931	$	1,355,145		$	1,182,415		$	1,745,021		$	1,384,556		$	2,903,396		$	1,013,857	$	57,946	$	9,980,267
Current-period gross charge-offs	$	-	$	(634	)	$	(722	)	$	(2,402	)	$	(1,366	)	$	(3,031	)	$	-	$	-	$	(8,155	)

(In thousands)	2024			2023			2022			2021			2020			Prior			Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
As of December 31, 2024
C&I
By internally assigned grade:
Pass	$	255,824		$	166,780		$	180,095		$	177,839		$	118,826		$	101,755		$	349,443	$	3,588	$	1,354,150
Special mention		272			3,265			3,461			1,639			307			1,008			22,582		4,374		36,908
Substandard		2,419			3,895			2,183			1,555			173			3,878			23,231		1,751		39,085
Doubtful		-			67			2			1			-			-			-		-		70
Total C&I	$	258,515		$	174,007		$	185,741		$	181,034		$	119,306		$	106,641		$	395,256	$	9,713	$	1,430,213
Current-period gross charge-offs	$	-		$	(99	)	$	(1,063	)	$	(162	)	$	-		$	(1,352	)	$	-	$	-	$	(2,676	)
CRE
By internally assigned grade:
Pass	$	414,835		$	352,834		$	550,682		$	514,134		$	414,737		$	912,693		$	314,574	$	45,940	$	3,520,429
Special mention		2,573			14,406			23,747			7,440			4,310			16,888			2,044		1,222		72,630
Substandard		-			1,743			19,182			18,111			2,362			61,029			654		-		103,081
Total CRE	$	417,408		$	368,983		$	593,611		$	539,685		$	421,409		$	990,610		$	317,272	$	47,162	$	3,696,140
Current-period gross charge-offs	$	-		$	-		$	-		$	(2,366	)	$	-		$	-		$	-	$	-	$	(2,366	)
Auto
By payment activity:
Performing	$	557,817		$	321,545		$	238,232		$	90,143		$	19,931		$	14,284		$	-	$	-	$	1,241,952
Nonperforming		594			983			710			459			107			101			-		-		2,954
Total auto	$	558,411		$	322,528		$	238,942		$	90,602		$	20,038		$	14,385		$	-	$	-	$	1,244,906
Current-period gross charge-offs	$	(141	)	$	(1,478	)	$	(1,610	)	$	(837	)	$	(116	)	$	(347	)	$	-	$	-	$	(4,529	)
Residential solar
By payment activity:
Performing	$	4,381		$	121,755		$	398,030		$	166,018		$	56,612		$	71,472		$	-	$	-	$	818,268
Nonperforming		-			213			869			488			80			161			-		-		1,811
Total residential solar	$	4,381		$	121,968		$	398,899		$	166,506		$	56,692		$	71,633		$	-	$	-	$	820,079
Current-period gross charge-offs	$	-		$	(530	)	$	(4,441	)	$	(716	)	$	(201	)	$	(694	)	$	-	$	-	$	(6,582	)
Other consumer
By payment activity:
Performing	$	16,426		$	6,685		$	11,792		$	27,045		$	10,718		$	15,881		$	19,507	$	12	$	108,066
Nonperforming		12			43			207			433			209			202			15		30		1,151
Total other consumer	$	16,438		$	6,728		$	11,999		$	27,478		$	10,927		$	16,083		$	19,522	$	42	$	109,217
Current-period gross charge-offs	$	(735	)	$	(330	)	$	(2,080	)	$	(4,271	)	$	(1,036	)	$	(912	)	$	-	$	-	$	(9,364	)
Residential
By payment activity:
Performing	$	188,657		$	222,593		$	369,473		$	419,053		$	246,867		$	924,869		$	265,351	$	18,935	$	2,655,798
Nonperforming		580			765			766			2,507			160			8,779			-		-		13,557
Total residential	$	189,237		$	223,358		$	370,239		$	421,560		$	247,027		$	933,648		$	265,351	$	18,935	$	2,669,355
Current-period gross charge-offs	$	-		$	(34	)	$	-		$	-		$	-		$	(177	)	$	-	$	-	$	(211	)
Total loans	$	1,444,390		$	1,217,572		$	1,799,431		$	1,426,865		$	875,399		$	2,133,000		$	997,401	$	75,852	$	9,969,910
Current-period gross charge-offs	$	(876	)	$	(2,471	)	$	(9,194	)	$	(8,352	)	$	(1,353	)	$	(3,482	)	$	-	$	-	$	(25,728	)

Amortized Cost Basis of Loans Modified to Borrowers Experiencing Financial Difficulty

The following table shows the amortized cost basis at the end of the reporting period of the loans modified to borrowers experiencing financial difficulty, disaggregated by class of financing receivable and type of concession granted:

	Three Months Ended March 31, 2025
	Term Extension
(Dollars in thousands)	Amortized Cost		% of Total Class of Financing Receivables
Residential	$	789		0.030	%
Total	$	789

	Three Months Ended March 31, 2024
	Term Extension
(Dollars in thousands)	Amortized Cost		% of Total Class of Financing Receivables
Residential	$	294		0.011	%
Total	$	294

Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty

The following table describes the financial effect of the modifications made to borrowers experiencing financial difficulties:

	Three Months Ended March 31, 2025
Loan Type	Term Extension
Residential	Added a weighted-average 5.2 years to the life of loans, which reduced monthly payment amounts for the borrowers.

	Three Months Ended March 31, 2024
Loan Type	Term Extension
Residential	Added a weighted-average 7.4 years to the life of loans, which reduced monthly payment amounts for the borrowers.

Performance of Modified Loans

The following table depicts the performance of loans that have been modified to borrowers experiencing financial difficulty that were modified in the prior twelve months:

	Payment Status (Amortized Cost Basis)
(In thousands)	Current		31-60 Days Past Due		61-90 Days Past Due		Greater than 90 Days Past Due
As of March 31, 2025
Residential	$	1,891	$	59	$	-	$	-
Total	$	1,891	$	59	$	-	$	-

	Payment Status (Amortized Cost Basis)
(In thousands)	Current		31-60 Days Past Due		61-90 Days Past Due		Greater than 90 Days Past Due
As of March 31, 2024
Residential	$	863	$	-	$	-	$	29
Total	$	863	$	-	$	-	$	29