v3.25.2
Loans Receivable, Net (Tables)
 6 Months Ended
Jun. 30, 2025
Receivables [Abstract]  
Summary of loans receivable
The following table presents loans receivable for each portfolio segment of loans:
(Dollars in thousands)June 30,
2025		December 31,
2024
Residential real estate$1,931,554 1,858,929 
Commercial real estate11,935,109 10,963,713 
Other commercial3,303,889 3,119,535 
Home equity975,429 930,994 
Other consumer386,759 388,678 
Loans receivable18,532,740 17,261,849 
Allowance for credit losses(226,799)(206,041)
Loans receivable, net$18,305,941 17,055,808 
Net deferred origination fees included in loans receivable$(31,169)(29,187)
Net purchase accounting discounts included in loans receivable$(38,344)(34,361)
Accrued interest receivable on loans$84,139 73,935 
Summary of the activity in the ACL
The following table presents the provision for credit losses on the loan portfolio and off-balance sheet exposures:
Three Months endedSix Months ended
(Dollars in thousands)June 30,
2025		June 30,
2024		June 30,
2025		June 30,
2024
Provision for credit loss loans$18,009 5,066 24,163 14,157 
Provision for credit loss unfunded2,258 (1,548)3,918 (2,390)
Total provision for credit losses$20,267 3,518 28,081 11,767 
The following tables summarize the activity in the ACL:
Three Months ended June 30, 2025
(Dollars in thousands)TotalResidential Real EstateCommercial Real EstateOther CommercialHome EquityOther Consumer
Balance at beginning of period$210,400 26,595 140,369 25,642 11,348 6,446 
Acquisitions35 — — 10 — 25
Provision for credit losses18,009 1,190 11,865 2,869 343 1,742 
Charge-offs(3,339)(1)(51)(1,100)(9)(2,178)
Recoveries1,694 131 6 895 19 643 
Balance at end of period$226,799 27,915 152,189 28,316 11,701 6,678 

Three Months ended June 30, 2024
(Dollars in thousands)TotalResidential Real EstateCommercial Real EstateOther CommercialHome EquityOther Consumer
Balance at beginning of period$198,779 24,166 135,153 22,094 10,999 6,367 
Provision for credit losses5,066 471 1,582 1,081 210 1,722 
Charge-offs(4,135)— (395)(1,461)— (2,279)
Recoveries1,245 16 6 505 52 666 
Balance at end of period$200,955 24,653 136,346 22,219 11,261 6,476 

Six Months ended June 30, 2025
(Dollars in thousands)TotalResidential Real EstateCommercial Real EstateOther CommercialHome EquityOther Consumer
Balance at beginning of period$206,041 25,181 138,545 24,400 11,402 6,513 
Acquisitions35 — — 10 — 25 
Provision for credit losses24,163 2,542 13,333 4,591 266 3,431 
Charge-offs(7,236)(1)(51)(2,636)(9)(4,539)
Recoveries3,796 193 362 1,951 42 1,248 
Balance at end of period$226,799 27,915 152,189 28,316 11,701 6,678 

Six Months ended June 30, 2024
(Dollars in thousands)TotalResidential Real EstateCommercial Real EstateOther CommercialHome EquityOther Consumer
Balance at beginning of period$192,757 22,325 130,924 21,194 11,766 6,548 
Acquisitions3 — 3 — — — 
Provision for credit losses14,157 2,308 5,789 3,374 (554)3,240 
Charge-offs(8,430)— (395)(3,393)(25)(4,617)
Recoveries2,468 20 25 1,044 74 1,305 
Balance at end of period$200,955 24,653 136,346 22,219 11,261 6,476 
Loan portfolio aging analysis
The following tables present an aging analysis of the recorded investment in loans:
 June 30, 2025
(Dollars in thousands)TotalResidential
Real Estate		Commercial
Real Estate		Other
Commercial		Home
Equity		Other
Consumer
Accruing loans 30-59 days past due$41,100 9,625 19,314 7,082 2,582 2,497 
Accruing loans 60-89 days past due13,303 1,323 3,006 5,407 2,669 898 
Accruing loans 90 days or more past due
11,371 2,116 2,616 5,221 978 440 
Non-accrual loans with no ACL34,914 7,278 9,879 14,163 2,805 789 
Non-accrual loans with ACL442 75 — 287 — 80 
Total past due and
  non-accrual loans
101,130 20,417 34,815 32,160 9,034 4,704 
Current loans receivable18,431,610 1,911,137 11,900,294 3,271,729 966,395 382,055 
Total loans receivable$18,532,740 1,931,554 11,935,109 3,303,889 975,429 386,759 
 
 December 31, 2024
(Dollars in thousands)TotalResidential
Real Estate		Commercial
Real Estate		Other
Commercial		Home
Equity		Other
Consumer
Accruing loans 30-59 days past due$25,347 5,195 8,852 6,261 1,965 3,074 
Accruing loans 60-89 days past due6,881 404 2,792 1,180 1,699 806 
Accruing loans 90 days or more past due
6,177 1,509 2,899 985 646 138 
Non-accrual loans with no ACL20,060 6,850 8,012 1,691 2,826 681 
Non-accrual loans with ACL385 75 — 167 — 143 
Total past due and non-accrual loans
58,850 14,033 22,555 10,284 7,136 4,842 
Current loans receivable17,202,999 1,844,896 10,941,158 3,109,251 923,858 383,836 
Total loans receivable$17,261,849 1,858,929 10,963,713 3,119,535 930,994 388,678 
Collateral-dependent loans The following tables present the amortized cost basis of collateral-dependent loans by collateral type:
 June 30, 2025
(Dollars in thousands)TotalResidential
Real Estate		Commercial
Real Estate		Other
Commercial		Home
Equity		Other
Consumer
Business assets$13,277 — — 13,277 — — 
Residential real estate14,484 7,353 3,912 267 2,788 164 
Other real estate19,313 — 18,291 614 18 390 
Other997 — — 413 — 584 
Total$48,071 7,353 22,203 14,571 2,806 1,138 

 December 31, 2024
(Dollars in thousands)TotalResidential
Real Estate		Commercial
Real Estate		Other
Commercial		Home
Equity		Other
Consumer
Business assets$11,483 — — 11,480 — 3 
Residential real estate14,425 6,924 4,107 508 2,808 78 
Other real estate22,016 1 21,066 561 18 370 
Other1,055 — — 383 — 672 
Total$48,979 6,925 25,173 12,932 2,826 1,123 
Summary of loan modifications The following tables show the amortized cost basis of MBFD loans by segment for the periods presented:
At or for the Three Months ended June 30, 2025
Term Extension and Payment DeferralCombination - Term Extension and Interest Rate Reduction
(Dollars in thousands)Amortized Cost Basis% of Total ClassAmortized Cost Basis% of Total ClassTotal
Commercial real estate$3,434 — %$— — %$3,434 
Other commercial1,223 — %— — %1,223 
Total$4,657 $— $4,657 
At or for the Three Months ended June 30, 2024
Term Extension and Payment DeferralCombination - Term Extension and Interest Rate Reduction
(Dollars in thousands)Amortized Cost Basis% of Total ClassAmortized Cost Basis% of Total ClassTotal
Commercial real
   estate		$7,624 0.1 %— — %7,624 
Other commercial680 — %— — %680 
Total$8,304 $— $8,304 

At or for the Six Months ended June 30, 2025
Term Extension and Payment DeferralCombination - Term Extension and Interest Rate Reduction
(Dollars in thousands)Amortized Cost Basis% of Total ClassAmortized Cost Basis% of Total ClassTotal
Commercial real estate$10,399 0.1 %857 — %11,256 
Other commercial3,710 0.1 %247 — %3,957 
Total$14,109 $1,104 $15,213 

At or for the Six Months ended June 30, 2024
Term Extension and Payment DeferralCombination - Term Extension and Interest Rate Reduction
(Dollars in thousands)Amortized Cost Basis% of Total ClassAmortized Cost Basis% of Total ClassTotal
Residential real estate$204 — %$— — %$204 
Commercial real estate9,237 0.1 %30,506 0.3 %39,743 
Other commercial10,114 0.3 %441 — %10,555 
Total$19,555 $30,947 $50,502 

The following tables describe the financial effect of the MBFD loans by segment:
At or for the Three Months ended June 30, 2025
Weighted Average Interest Rate ReductionWeighted Average Term Extension
Other commercial—%10 months
Home equity—%2 months
At or for the Three Months ended June 30, 2024
Weighted Average Interest Rate ReductionWeighted Average Term Extension
Commercial real estate—%2 months
Other commercial—%2 months
At or for the Six Months ended June 30, 2025
Weighted Average Interest Rate ReductionWeighted Average Term Extension
Commercial real estate4.74%8 months
Other commercial1.48%1.2 years

At or for the Six Months ended June 30, 2024
Weighted Average Interest Rate ReductionWeighted Average Term Extension
Residential real estate—%9 months
Commercial real estate1.67%9 months
Other commercial—%9 months
The following tables depict the performance of loans that have been modified in the last twelve months by segment:
June 30, 2025
(Dollars in thousands)TotalCurrent30-89 Days Past Due90 Days or More Past DueNon-Accrual
Commercial real estate$11,256 8,747 — — 2,509 
Other commercial3,957 3,510 — 311 136 
Total$15,213 12,257 — 311 2,645 
June 30, 2024
(Dollars in thousands)TotalCurrent30-89 Days Past Due90 Days or More Past DueNon-Accrual
Residential real estate$204 204 — — — 
Commercial real estate39,743 39,359 — — 384 
Other commercial10,555 10,015 99 — 441 
Total$50,502 49,578 99 — 825 
Credit quality indicators for commercial loans The following tables present the amortized cost in commercial real estate and other commercial loans based on the Company’s internal risk rating. The date of a modification, renewal or
extension of a loan is considered for the year of origination if the terms of the loan are as favorable to the Company as the terms are for a comparable loan to other borrowers with similar credit risk.
 June 30, 2025
(Dollars in thousands)Gross Charge-OffsTotalPassSpecial MentionSubstandardDoubtful/
Loss
Commercial real estate loans
Term loans by origination year
2025 (year-to-date)$— 815,265 813,483 1,518 264 — 
202451 1,521,568 1,483,646 2,492 35,430 — 
2023— 1,361,814 1,341,864 15,167 4,783 — 
2022— 2,317,259 2,276,223 22,021 19,015 — 
2021— 1,991,372 1,928,200 31,098 32,074 — 
Prior— 3,441,039 3,349,800 44,342 46,897 — 
Revolving loans— 486,792 480,293 2,648 3,851 — 
Total$51 11,935,109 11,673,509 119,286 142,314 — 
Other commercial loans
Term loans by origination year
2025 (year-to-date)$2,151 207,922 206,074 479 1,041 328 
202413 351,541 349,034 189 2,144 174 
2023286 299,180 292,491 2,156 4,157 376 
202226 495,610 484,447 4,510 6,651 2 
202198 443,849 435,498 315 8,030 6 
Prior62 640,665 606,904 3,254 30,475 32 
Revolving loans— 865,122 839,813 10,621 14,679 9 
Total$2,636 3,303,889 3,214,261 21,524 67,177 927 
 December 31, 2024
(Dollars in thousands)Gross Charge-OffsTotalPassSpecial MentionSubstandardDoubtful/
Loss
Commercial real estate loans
Term loans by origination year
2024$— $1,321,385 1,287,352 5,674 28,359 — 
2023— 1,334,689 1,311,808 18,151 4,730 — 
20221,437 2,367,874 2,307,217 26,662 33,995 — 
20211,128 2,043,830 1,988,629 30,965 24,236 — 
20205 1,043,858 1,036,774 — 7,084 — 
Prior326 2,515,573 2,446,084 25,922 43,567 — 
Revolving loans— 336,504 331,130 1,199 4,175 — 
Total$2,896 $10,963,713 10,708,994 108,573 146,146 — 
Other commercial loans
Term loans by origination year
2024$4,260 $407,909 402,180 3,687 1,641 401 
202383 315,890 312,154 533 3,203 — 
2022373 496,999 492,111 463 4,423 2 
2021525 462,173 452,731 743 8,680 19 
2020291 203,771 199,643 44 4,083 1 
Prior246 495,291 468,850 — 26,441 — 
Revolving loans— 737,502 706,991 17,612 12,886 13 
Total$5,778 $3,119,535 3,034,660 23,082 61,357 436 
Credit quality indicators for RRE and consumer loans The following tables present the amortized cost in residential real estate, home equity and other consumer loans based on payment performance:
 June 30, 2025
(Dollars in thousands)Gross Charge-OffsTotalPerforming30-89 Days Past DueNon-Accrual and 90 Days or More Past Due
Residential real estate loans
Term loans by origination year
2025 (year-to-date)$— 61,484 61,484 — — 
20241 250,047 249,350 — 697 
2023— 283,794 283,097 — 697 
2022— 647,683 644,697 2,120 866 
2021— 432,732 430,285 471 1,976 
Prior— 252,591 239,386 7,972 5,233 
Revolving loans— 3,223 2,838 385 — 
Total$1 1,931,554 1,911,137 10,948 9,469 
Home equity loans
Term loans by origination year
2025 (year-to-date)$— 1,079 1,079 — — 
2024— 445 445 — — 
2023— 1,744 1,719 — 25 
20229 2,379 2,379 — — 
2021— 1,710 1,710 — — 
Prior— 4,358 4,212 24 122 
Revolving loans— 963,714 954,851 5,227 3,636 
Total$9 975,429 966,395 5,251 3,783 
Other consumer loans
Term loans by origination year
2025 (year-to-date)$3,762 67,797 66,153 1,644 — 
2024118 91,441 90,784 300 357 
2023171 77,179 76,631 383 165 
2022201 50,437 49,855 337 245 
2021108 28,152 27,653 287 212 
Prior179 33,944 33,650 101 193 
Revolving loans— 37,809 37,329 343 137 
Total$4,539 386,759 382,055 3,395 1,309 
 December 31, 2024
(Dollars in thousands)Gross Charge-OffsTotalPerforming30-89 Days Past DueNon-Accrual and 90 Days or More Past Due
Residential real estate loans
Term loans by origination year
2024$40 $211,519 210,806 — 713 
2023— 267,000 264,817 1,407 776 
2022— 655,918 652,993 2,566 359 
2021— 455,196 452,628 959 1,609 
2020— 90,752 90,649 — 103 
Prior— 178,544 173,003 667 4,874 
Revolving loans— — — — — 
Total$40 $1,858,929 1,844,896 5,599 8,434 
Home equity loans
Term loans by origination year
2024$— $219 219 — — 
202317 1,072 1,045 — 27 
20228 1,858 1,858 — — 
2021— 780 780 — — 
2020— 78 78 — — 
Prior106 4,353 4,264 4 85 
Revolving loans— 922,634 915,614 3,660 3,360 
Total$131 $930,994 923,858 3,664 3,472 
Other consumer loans
Term loans by origination year
2024$8,456 $116,312 114,164 2,139 9 
2023431 89,684 89,218 262 204 
2022467 64,808 63,843 665 300 
2021238 36,755 36,233 261 261 
202034 18,648 18,601 41 6 
Prior155 20,014 19,738 103 173 
Revolving loans— 42,457 42,039 409 9 
Total$9,781 $388,678 383,836 3,880 962