Loans And Allowance For Credit Losses (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Receivables [Abstract] |
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| Summary Classification Of Held For Investment Loan Portfolio |
Major classifications within the Company’s held for investment loan portfolio at June 30, 2025 and December 31, 2024 are as follows:
| | | | | | | | | | | | (In thousands) | June 30, 2025 | | December 31, 2024 | | Commercial: | | | | | Business | $ | 6,328,684 | | | $ | 6,053,820 | | | Real estate – construction and land | 1,405,398 | | | 1,409,901 | | | Real estate – business | 3,757,778 | | | 3,661,218 | | | Personal Banking: | | | | | Real estate – personal | 3,058,845 | | | 3,058,195 | | | Consumer | 2,157,867 | | | 2,073,123 | | | Revolving home equity | 364,429 | | | 356,650 | | | Consumer credit card | 576,151 | | | 595,930 | | | Overdrafts | 16,316 | | | 11,266 | | | Total loans | $ | 17,665,468 | | | $ | 17,220,103 | |
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| CECL Model Inputs |
Key assumptions in the Company’s allowance for credit loss model include the economic forecast, the reasonable and supportable period, forecasted macro-economic variables, prepayment assumptions and qualitative factors applied for portfolio composition changes, underwriting practices, or significant unique events or conditions. The assumptions utilized in estimating the Company’s allowance for credit losses at June 30, 2025 and March 31, 2025 are discussed below.
| | | | | | | | | | Key Assumption | June 30, 2025 | December 31, 2024 | | | | | Overall economic forecast | •Economy in the next year is expected to benefit from deregulation, fiscal stimulus and less policy uncertainty •The forecast assumes recent reduction in tariffs between China and the US will be permanent while increases in steel and aluminum tariffs were included •Layoffs remain low | •The United States economy will grow •Expansionary fiscal policy and less immigration cause the labor market to tighten, pushing the unemployment rate lower | | Reasonable and supportable period and related reversion period | •Reasonable and supportable period of one year •Reversion to historical average loss rates within two quarters using a straight-line method | •Reasonable and supportable period of one year •Reversion to historical average loss rates within two quarters using a straight-line method | | Forecasted macro-economic variables | •Unemployment rate ranges from 4.3% to 4.4% during the supportable forecast period •Real GDP growth ranges from 1.0% to 1.6% •BBB corporate yield from 5.9% to 6.2% •Housing Price Index from 332.8 to 341.0 | •Unemployment rate ranges from 4.2% to 4.3% during the supportable forecast period •Real GDP growth ranges from 2.5% to 2.7% •BBB corporate yield from 5.2% to 5.3% •Housing Price Index from 324.8 to 335.4 | | Prepayment assumptions | Commercial loans •5% for most loan pools Personal banking loans •Ranging from 8.1% to 23.3% for most loan pools •Consumer credit cards 66.4% | Commercial loans •5% for most loan pools Personal banking loans •Ranging from 8.9% to 23.1% for most loan pools •Consumer credit cards 66.5% | | Qualitative factors | Added qualitative factors related to: •Changes in the composition of the loan portfolios •Certain industries experiencing stress or emerging concerns within the portfolio •Loans downgraded to special mention, substandard, or non-accrual status •Consumer auto and other vehicle portfolios loss expectation adjustment •Other consumer portfolio loss expectation adjustment •Certain portfolios where the model assumptions do not capture all identified loss risk | Added qualitative factors related to: •Changes in the composition of the loan portfolios •Certain industries experiencing stress or emerging concerns within the portfolio •Loans downgraded to special mention, substandard, or non-accrual status •Consumer auto portfolio •Certain portfolios where the model assumptions do not capture all identified loss risk |
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| Summary Of Activity In The Allowance For Credit Losses |
A summary of the activity in the allowance for credit losses on loans and the liability for unfunded lending commitments for the three and six months ended June 30, 2025 and 2024, respectively, follows:
| | | | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended June 30, 2025 | | For the Six Months Ended June 30, 2025 | | (In thousands) | Commercial | Personal Banking |
Total | | Commercial | Personal Banking |
Total | | ALLOWANCE FOR CREDIT LOSSES ON LOANS | | | | | | | | | | | | | | | | | | | | | | | | | Balance at beginning of period | $ | 106,700 | | $ | 60,331 | | $ | 167,031 | | | $ | 106,769 | | $ | 55,973 | | $ | 162,742 | | | Provision for credit losses on loans | 185 | | 7,734 | | 7,919 | | | 539 | | 22,475 | | 23,014 | | | Deductions: | | | | | | | | | Loans charged off | 495 | | 11,530 | | 12,025 | | | 1,221 | | 24,097 | | 25,318 | | | Less recoveries on loans | 464 | | 1,871 | | 2,335 | | | 767 | | 4,055 | | 4,822 | | | Net loan charge-offs (recoveries) | 31 | | 9,659 | | 9,690 | | | 454 | | 20,042 | | 20,496 | | | Balance June 30, 2025 | $ | 106,854 | | $ | 58,406 | | $ | 165,260 | | | $ | 106,854 | | $ | 58,406 | | $ | 165,260 | | | LIABILITY FOR UNFUNDED LENDING COMMITMENTS | | | | | | | | | | | | | | | | | | | | | | | | | Balance at beginning of period | $ | 17,047 | | $ | 1,280 | | $ | 18,327 | | | $ | 17,887 | | $ | 1,048 | | $ | 18,935 | | | Provision for credit losses on unfunded lending commitments | (2,276) | | (46) | | (2,322) | | | (3,116) | | 186 | | (2,930) | | | Balance June 30, 2025 | $ | 14,771 | | $ | 1,234 | | $ | 16,005 | | | $ | 14,771 | | $ | 1,234 | | $ | 16,005 | | | ALLOWANCE FOR CREDIT LOSSES ON LOANS AND LIABILITY FOR UNFUNDED LENDING COMMITMENTS | $ | 121,625 | | $ | 59,640 | | $ | 181,265 | | | $ | 121,625 | | $ | 59,640 | | $ | 181,265 | |
| | | | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended June 30, 2024 | | For the Six Months Ended June 30, 2024 | | (In thousands) | Commercial | Personal Banking |
Total | | Commercial | Personal Banking |
Total | | ALLOWANCE FOR CREDIT LOSSES ON LOANS | | | | | | | | | | | | | | | | | | | | | | | | | Balance at beginning of period | $ | 105,464 | | $ | 55,001 | | $ | 160,465 | | | $ | 108,201 | | $ | 54,194 | | $ | 162,395 | | | Provision for credit losses on loans | 2,367 | | 5,482 | | 7,849 | | | (488) | | 15,284 | | 14,796 | | | Deductions: | | | | | | | | | Loans charged off | 850 | | 11,018 | | 11,868 | | | 1,166 | | 21,867 | | 23,033 | | | Less recoveries on loans | 236 | | 1,875 | | 2,111 | | | 670 | | 3,729 | | 4,399 | | | Net loan charge-offs (recoveries) | 614 | | 9,143 | | 9,757 | | | 496 | | 18,138 | | 18,634 | | | Balance June 30, 2024 | $ | 107,217 | | $ | 51,340 | | $ | 158,557 | | | $ | 107,217 | | $ | 51,340 | | $ | 158,557 | | | LIABILITY FOR UNFUNDED LENDING COMMITMENTS | | | | | | | | | | | | | | | | | | | | | | | | | Balance at beginning of period | $ | 21,636 | | $ | 1,450 | | $ | 23,086 | | | $ | 23,909 | | $ | 1,337 | | $ | 25,246 | | | Provision for credit losses on unfunded lending commitments | (2,273) | | (108) | | (2,381) | | | (4,546) | | 5 | | (4,541) | | | Balance June 30, 2024 | $ | 19,363 | | $ | 1,342 | | $ | 20,705 | | | $ | 19,363 | | $ | 1,342 | | $ | 20,705 | | | ALLOWANCE FOR CREDIT LOSSES ON LOANS AND LIABILITY FOR UNFUNDED LENDING COMMITMENTS | $ | 126,580 | | $ | 52,682 | | $ | 179,262 | | | $ | 126,580 | | $ | 52,682 | | $ | 179,262 | |
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| Aging Information On Past Due And Nonaccrual Loans |
The following table provides aging information on the Company’s past due and accruing loans, in addition to the balances of loans on non-accrual status, at June 30, 2025 and December 31, 2024. | | | | | | | | | | | | | | | | | |
(In thousands) | Current or Less Than 30 Days Past Due |
30 – 89 Days Past Due | 90 Days Past Due and Still Accruing | Non-accrual |
Total | | June 30, 2025 | | | | | | | Commercial: | | | | | | | Business | $ | 6,325,992 | | $ | 1,168 | | $ | 1,114 | | $ | 410 | | $ | 6,328,684 | | | Real estate – construction and land | 1,404,827 | | 145 | | — | | 426 | | 1,405,398 | | | Real estate – business | 3,742,041 | | 628 | | — | | 15,109 | | 3,757,778 | | | Personal Banking: | | | | | | | Real estate – personal | 3,041,262 | | 5,053 | | 11,582 | | 948 | | 3,058,845 | | | Consumer | 2,130,176 | | 23,700 | | 3,991 | | — | | 2,157,867 | | | Revolving home equity | 360,725 | | 1,037 | | 690 | | 1,977 | | 364,429 | | | Consumer credit card | 560,937 | | 7,288 | | 7,926 | | — | | 576,151 | | | Overdrafts | 16,090 | | 226 | | — | | — | | 16,316 | | | Total | $ | 17,582,050 | | $ | 39,245 | | $ | 25,303 | | $ | 18,870 | | $ | 17,665,468 | | | December 31, 2024 | | | | | | | Commercial: | | | | | | | Business | $ | 6,051,654 | | $ | 1,501 | | $ | 564 | | $ | 101 | | $ | 6,053,820 | | | Real estate – construction and land | 1,409,681 | | — | | — | | 220 | | 1,409,901 | | | Real estate – business | 3,640,643 | | 5,621 | | — | | 14,954 | | 3,661,218 | | | Personal Banking: | | | | | | | Real estate – personal | 3,021,017 | | 25,267 | | 10,885 | | 1,026 | | 3,058,195 | | | Consumer | 2,029,115 | | 40,398 | | 3,610 | | — | | 2,073,123 | | | Revolving home equity | 351,056 | | 2,798 | | 819 | | 1,977 | | 356,650 | | | Consumer credit card | 579,670 | | 7,622 | | 8,638 | | — | | 595,930 | | | Overdrafts | 10,953 | | 313 | | — | | — | | 11,266 | | | Total | $ | 17,093,789 | | $ | 83,520 | | $ | 24,516 | | $ | 18,278 | | $ | 17,220,103 | |
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| Risk Category of Loans in Commercial Portfolio |
The risk category of loans in the Commercial portfolio as of June 30, 2025 and December 31, 2024 are as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Term Loans Amortized Cost Basis by Origination Year | | | | (In thousands) | 2025 | 2024 | 2023 | 2022 | 2021 | Prior | Revolving Loans Amortized Cost Basis | Total | | June 30, 2025 | | | | | | | | | | Business | | | | | | | | | | Risk Rating: | | | | | | | | | | Pass | $ | 945,508 | | $ | 1,186,213 | | $ | 710,351 | | $ | 491,234 | | $ | 310,530 | | $ | 401,536 | | $ | 2,050,589 | | $ | 6,095,961 | | | Special mention | 2,524 | | 8,267 | | 5,751 | | 5,048 | | 377 | | 1,792 | | 90,028 | | 113,787 | | | Substandard | — | | 1,130 | | 5,600 | | 19,110 | | 9,181 | | 8,216 | | 75,289 | | 118,526 | | | Non-accrual | — | | 248 | | 161 | | — | | — | | 1 | | — | | 410 | | | Total Business: | $ | 948,032 | | $ | 1,195,858 | | $ | 721,863 | | $ | 515,392 | | $ | 320,088 | | $ | 411,545 | | $ | 2,215,906 | | $ | 6,328,684 | | Gross write-offs for the six months ended June 30, 2025 | $ | — | | $ | 184 | | $ | — | | $ | — | | $ | — | | $ | 10 | | $ | 603 | | $ | 797 | | | Real estate-construction | | | | | | | | | | Risk Rating: | | | | | | | | | | Pass | $ | 159,498 | | $ | 367,770 | | $ | 431,180 | | $ | 381,011 | | $ | 22,414 | | $ | 3,548 | | $ | 22,129 | | $ | 1,387,550 | | | Special mention | 1,912 | | — | | — | | 12,996 | | — | | — | | — | | 14,908 | | | Substandard | — | | — | | 2,514 | | — | | — | | — | | — | | 2,514 | | | Non-accrual | — | | 426 | | — | | — | | — | | — | | — | | 426 | | | Total Real estate-construction: | $ | 161,410 | | $ | 368,196 | | $ | 433,694 | | $ | 394,007 | | $ | 22,414 | | $ | 3,548 | | $ | 22,129 | | $ | 1,405,398 | | Gross write-offs for the six months ended June 30, 2025 | $ | — | | $ | 24 | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 24 | | | Real estate-business | | | | | | | | | | Risk Rating: | | | | | | | | | | Pass | $ | 573,010 | | $ | 632,354 | | $ | 470,837 | | $ | 694,361 | | $ | 434,922 | | $ | 594,359 | | $ | 149,678 | | $ | 3,549,521 | | | Special mention | 829 | | 18,301 | | 3,055 | | 12,780 | | 1,117 | | 2,346 | | — | | 38,428 | | | Substandard | — | | 958 | | 40,611 | | 27,393 | | 14,163 | | 64,642 | | 6,953 | | 154,720 | | | Non-accrual | — | | — | | 144 | | 292 | | 165 | | 14,508 | | — | | 15,109 | | | Total Real estate-business: | $ | 573,839 | | $ | 651,613 | | $ | 514,647 | | $ | 734,826 | | $ | 450,367 | | $ | 675,855 | | $ | 156,631 | | $ | 3,757,778 | | Gross write-offs for the six months ended June 30, 2025 | $ | — | | $ | — | | $ | 400 | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 400 | | | Commercial loans | | | | | | | | | | Risk Rating: | | | | | | | | | | Pass | $ | 1,678,016 | | $ | 2,186,337 | | $ | 1,612,368 | | $ | 1,566,606 | | $ | 767,866 | | $ | 999,443 | | $ | 2,222,396 | | $ | 11,033,032 | | | Special mention | 5,265 | | 26,568 | | 8,806 | | 30,824 | | 1,494 | | 4,138 | | 90,028 | | 167,123 | | | Substandard | — | | 2,088 | | 48,725 | | 46,503 | | 23,344 | | 72,858 | | 82,242 | | 275,760 | | | Non-accrual | — | | 674 | | 305 | | 292 | | 165 | | 14,509 | | — | | 15,945 | | | Total Commercial loans: | $ | 1,683,281 | | $ | 2,215,667 | | $ | 1,670,204 | | $ | 1,644,225 | | $ | 792,869 | | $ | 1,090,948 | | $ | 2,394,666 | | $ | 11,491,860 | | Gross write-offs for the six months ended June 30, 2025 | $ | — | | $ | 208 | | $ | 400 | | $ | — | | $ | — | | $ | 10 | | $ | 603 | | $ | 1,221 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Term Loans Amortized Cost Basis by Origination Year | | | | (In thousands) | 2024 | 2023 | 2022 | 2021 | 2020 | Prior | Revolving Loans Amortized Cost Basis | Total | | December 31, 2024 | | | | | | | | | | Business | | | | | | | | | | Risk Rating: | | | | | | | | | | Pass | $ | 1,505,299 | | $ | 956,449 | | $ | 596,681 | | $ | 405,669 | | $ | 148,483 | | $ | 350,106 | | $ | 1,887,596 | | $ | 5,850,283 | | | Special mention | 13,576 | | 7,978 | | 8,941 | | 4,155 | | 263 | | 2,065 | | 34,997 | | 71,975 | | | Substandard | 2,218 | | 5,596 | | 19,145 | | 5,069 | | 928 | | 10,086 | | 88,419 | | 131,461 | | | Non-accrual | 1 | | 47 | | 1 | | — | | — | | 52 | | — | | 101 | | | Total Business: | $ | 1,521,094 | | $ | 970,070 | | $ | 624,768 | | $ | 414,893 | | $ | 149,674 | | $ | 362,309 | | $ | 2,011,012 | | $ | 6,053,820 | | | Gross write-offs for the year ended December 31, 2024 | $ | 200 | | $ | 275 | | $ | 40 | | $ | 53 | | $ | — | | $ | 18 | | $ | 1,387 | | $ | 1,973 | | | Real estate-construction | | | | | | | | | | Risk Rating: | | | | | | | | | | Pass | $ | 419,562 | | $ | 442,720 | | $ | 451,606 | | $ | 53,462 | | $ | 3,143 | | $ | 2,450 | | $ | 34,075 | | $ | 1,407,018 | | | Special mention | — | | — | | — | | — | | — | | — | | — | | — | | | Substandard | — | | 2,663 | | — | | — | | — | | — | | — | | 2,663 | | | Non-accrual | 220 | | — | | — | | — | | — | | — | | — | | 220 | | | Total Real estate-construction: | $ | 419,782 | | $ | 445,383 | | $ | 451,606 | | $ | 53,462 | | $ | 3,143 | | $ | 2,450 | | $ | 34,075 | | $ | 1,409,901 | | | Gross write-offs for the year ended December 31, 2024 | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | | Real estate- business | | | | | | | | | | Risk Rating: | | | | | | | | | | Pass | $ | 755,498 | | $ | 604,936 | | $ | 753,023 | | $ | 448,041 | | $ | 363,717 | | $ | 368,350 | | $ | 129,868 | | $ | 3,423,433 | | | Special mention | 324 | | — | | 12,383 | | 12,524 | | 1,643 | | 298 | | — | | 27,172 | | | Substandard | 1,280 | | 23,420 | | 36,657 | | 18,429 | | 4,416 | | 104,382 | | 7,075 | | 195,659 | | | Non-accrual | — | | — | | 170 | | — | | 14,668 | | 116 | | — | | 14,954 | | | Total Real-estate business: | $ | 757,102 | | $ | 628,356 | | $ | 802,233 | | $ | 478,994 | | $ | 384,444 | | $ | 473,146 | | $ | 136,943 | | $ | 3,661,218 | | | Gross write-offs for the year ended December 31, 2024 | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 62 | | $ | — | | $ | 62 | | | Commercial loans | | | | | | | | | | Risk Rating: | | | | | | | | | | Pass | $ | 2,680,359 | | $ | 2,004,105 | | $ | 1,801,310 | | $ | 907,172 | | $ | 515,343 | | $ | 720,906 | | $ | 2,051,539 | | $ | 10,680,734 | | | Special mention | 13,900 | | 7,978 | | 21,324 | | 16,679 | | 1,906 | | 2,363 | | 34,997 | | 99,147 | | | Substandard | 3,498 | | 31,679 | | 55,802 | | 23,498 | | 5,344 | | 114,468 | | 95,494 | | 329,783 | | | Non-accrual | 221 | | 47 | | 171 | | — | | 14,668 | | 168 | | — | | 15,275 | | | Total Commercial loans: | $ | 2,697,978 | | $ | 2,043,809 | | $ | 1,878,607 | | $ | 947,349 | | $ | 537,261 | | $ | 837,905 | | $ | 2,182,030 | | $ | 11,124,939 | | | Gross write-offs for the year ended December 31, 2024 | $ | 200 | | $ | 275 | | $ | 40 | | $ | 53 | | $ | — | | $ | 80 | | $ | 1,387 | | $ | 2,035 | |
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| Risk Category of Loans in Personal Banking Portfolio |
The credit quality of Personal Banking loans is monitored primarily on the basis of aging/delinquency, and this information is provided as of June 30, 2025 and December 31, 2024 below.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Term Loans Amortized Cost Basis by Origination Year | | | | (In thousands) | 2025 | 2024 | 2023 | 2022 | 2021 | Prior | Revolving Loans Amortized Cost Basis | Total | | June 30, 2025 | | | | | | | | | | Real estate-personal | | | | | | | | | | Current to 90 days past due | $ | 192,556 | | $ | 349,967 | | $ | 365,298 | | $ | 386,310 | | $ | 458,799 | | $ | 1,285,630 | | $ | 7,755 | | $ | 3,046,315 | | | Over 90 days past due | — | | 573 | | 1,000 | | 2,642 | | 1,938 | | 5,429 | | — | | 11,582 | | | Non-accrual | — | | — | | — | | — | | 105 | | 843 | | — | | 948 | | | Total Real estate-personal: | $ | 192,556 | | $ | 350,540 | | $ | 366,298 | | $ | 388,952 | | $ | 460,842 | | $ | 1,291,902 | | $ | 7,755 | | $ | 3,058,845 | | Gross write-offs for the six months ended June 30, 2025 | $ | — | | $ | — | | $ | 45 | | $ | 35 | | $ | 48 | | $ | 13 | | $ | — | | $ | 141 | | | Consumer | | | | | | | | | | Current to 90 days past due | $ | 287,128 | | $ | 318,037 | | $ | 306,721 | | $ | 167,131 | | $ | 117,950 | | $ | 84,518 | | $ | 872,391 | | $ | 2,153,876 | | | Over 90 days past due | 80 | | 507 | | 435 | | 266 | | 99 | | 359 | | 2,245 | | 3,991 | | | | | | | | | | | | Total Consumer: | $ | 287,208 | | $ | 318,544 | | $ | 307,156 | | $ | 167,397 | | $ | 118,049 | | $ | 84,877 | | $ | 874,636 | | $ | 2,157,867 | | Gross write-offs for the six months ended June 30, 2025 | $ | 7 | | $ | 2,123 | | $ | 1,564 | | $ | 1,019 | | $ | 399 | | $ | 235 | | $ | 1,023 | | $ | 6,370 | | | Revolving home equity | | | | | | | | | | Current to 90 days past due | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 361,762 | | $ | 361,762 | | | Over 90 days past due | — | | — | | — | | — | | — | | — | | 690 | | 690 | | | Non-accrual | — | | — | | — | | — | | — | | — | | 1,977 | | $ | 1,977 | | | Total Revolving home equity: | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 364,429 | | $ | 364,429 | | Gross write-offs for the six months ended June 30, 2025 | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 15 | | $ | 15 | | | Consumer credit card | | | | | | | | | | Current to 90 days past due | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 568,225 | | $ | 568,225 | | | Over 90 days past due | — | | — | | — | | — | | — | | — | | 7,926 | | 7,926 | | | | | | | | | | | | Total Consumer credit card: | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 576,151 | | $ | 576,151 | | Gross write-offs for the six months ended June 30, 2025 | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 16,319 | | $ | 16,319 | | | Overdrafts | | | | | | | | | | Current to 90 days past due | $ | 16,316 | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 16,316 | | | | | | | | | | | | | | | | | | | | | Total Overdrafts: | $ | 16,316 | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 16,316 | | Gross write-offs for the six months ended June 30, 2025 | $ | 1,252 | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 1,252 | | | Personal banking loans | | | | | | | | | | Current to 90 days past due | $ | 496,000 | | $ | 668,004 | | $ | 672,019 | | $ | 553,441 | | $ | 576,749 | | $ | 1,370,148 | | $ | 1,810,133 | | $ | 6,146,494 | | | Over 90 days past due | 80 | | 1,080 | | 1,435 | | 2,908 | | 2,037 | | 5,788 | | 10,861 | | 24,189 | | | Non-accrual | — | | — | | — | | — | | 105 | | 843 | | 1,977 | | 2,925 | | | Total Personal banking loans: | $ | 496,080 | | $ | 669,084 | | $ | 673,454 | | $ | 556,349 | | $ | 578,891 | | $ | 1,376,779 | | $ | 1,822,971 | | $ | 6,173,608 | | Gross write-offs for the six months ended June 30, 2025 | $ | 1,259 | | $ | 2,123 | | $ | 1,609 | | $ | 1,054 | | $ | 447 | | $ | 248 | | $ | 17,357 | | $ | 24,097 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Term Loans Amortized Cost Basis by Origination Year | | | | (In thousands) | 2024 | 2023 | 2022 | 2021 | 2020 | Prior | Revolving Loans Amortized Cost Basis | Total | | December 31, 2024 | | | | | | | | | | Real estate-personal | | | | | | | | | | Current to 90 days past due | $ | 387,119 | | $ | 387,486 | | $ | 404,680 | | $ | 482,733 | | $ | 637,115 | | $ | 736,217 | | $ | 10,934 | | $ | 3,046,284 | | | Over 90 days past due | 665 | | 892 | | 1,431 | | 1,890 | | 3,180 | | 2,827 | | — | | 10,885 | | | Non-accrual | — | | 8 | | — | | 108 | | — | | 910 | | — | | 1,026 | | | Total Real estate-personal: | $ | 387,784 | | $ | 388,386 | | $ | 406,111 | | $ | 484,731 | | $ | 640,295 | | $ | 739,954 | | $ | 10,934 | | $ | 3,058,195 | | | Gross write-offs for the year ended December 31, 2024 | $ | — | | $ | 82 | | $ | 115 | | $ | 83 | | $ | — | | $ | 22 | | $ | — | | $ | 302 | | | Consumer | | | | | | | | | | Current to 90 days past due | $ | 418,902 | | $ | 369,855 | | $ | 228,189 | | $ | 165,030 | | $ | 72,314 | | $ | 49,890 | | $ | 765,333 | | $ | 2,069,513 | | | Over 90 days past due | 465 | | 584 | | 406 | | 213 | | 47 | | 367 | | 1,528 | | 3,610 | | | | | | | | | | | | Total Consumer: | $ | 419,367 | | $ | 370,439 | | $ | 228,595 | | $ | 165,243 | | $ | 72,361 | | $ | 50,257 | | $ | 766,861 | | $ | 2,073,123 | | | Gross write-offs for the year ended December 31, 2024 | $ | 1,438 | | $ | 3,109 | | $ | 2,859 | | $ | 1,308 | | $ | 540 | | $ | 255 | | $ | 2,309 | | $ | 11,818 | | | Revolving home equity | | | | | | | | | | Current to 90 days past due | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 353,854 | | $ | 353,854 | | | Over 90 days past due | — | | — | | — | | — | | — | | — | | 819 | | 819 | | | Non-accrual | — | | — | | — | | — | | — | | — | | 1,977 | | $ | 1,977 | | | Total Revolving home equity: | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 356,650 | | $ | 356,650 | | | Gross write-offs for the year ended December 31, 2024 | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | | Consumer credit card | | | | | | | | | | Current to 90 days past due | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 587,292 | | $ | 587,292 | | | Over 90 days past due | — | | — | | — | | — | | — | | — | | 8,638 | | 8,638 | | | | | | | | | | | | Total Consumer credit card: | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 595,930 | | $ | 595,930 | | | Gross write-offs for the year ended December 31, 2024 | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 30,427 | | $ | 30,427 | | | Overdrafts | | | | | | | | | | Current to 90 days past due | $ | 11,266 | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 11,266 | | | | | | | | | | | | | | | | | | | | | Total Overdrafts: | $ | 11,266 | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 11,266 | | | Gross write-offs for the year ended December 31, 2024 | $ | 2,689 | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 2,689 | | | Personal banking loans | | | | | | | | | | Current to 90 days past due | $ | 817,287 | | $ | 757,341 | | $ | 632,869 | | $ | 647,763 | | $ | 709,429 | | $ | 786,107 | | $ | 1,717,413 | | $ | 6,068,209 | | | Over 90 days past due | 1,130 | | 1,476 | | 1,837 | | 2,103 | | 3,227 | | 3,194 | | 10,985 | | 23,952 | | | Non-accrual | — | | 8 | | — | | 108 | | — | | 910 | | 1,977 | | 3,003 | | | Total Personal banking loans: | $ | 818,417 | | $ | 758,825 | | $ | 634,706 | | $ | 649,974 | | $ | 712,656 | | $ | 790,211 | | $ | 1,730,375 | | $ | 6,095,164 | | | Gross write-offs for the year ended December 31, 2024 | $ | 4,127 | | $ | 3,191 | | $ | 2,974 | | $ | 1,391 | | $ | 540 | | $ | 277 | | $ | 32,736 | | $ | 45,236 | |
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| Amortized Cost Basis of Collateral-Dependent Loans |
The following table presents the amortized cost basis of collateral-dependent loans as of June 30, 2025 and December 31, 2024. | | | | | | | | | | | | | (In thousands) | | | Real Estate | | Total | | June 30, 2025 | | | | | | | Commercial: | | | | | | | | | | | | | | | | | | | Real estate - business | | | $ | 14,508 | | | $ | 14,508 | | | Personal Banking: | | | | | | | | | | | | | | | | | | | Revolving home equity | | | 1,977 | | | 1,977 | | | | | | | | | | | | | | | Total | | | $ | 16,485 | | | $ | 16,485 | | | December 31, 2024 | | | | | | | Commercial: | | | | | | | | | | | | | | | | | | | Real estate - business | | | $ | 14,667 | | | $ | 14,667 | | | Personal Banking: | | | | | | | | | | | | | | | | | | | Revolving home equity | | | 1,977 | | | 1,977 | | | | | | | | | | | | | | | Total | | | $ | 16,644 | | | $ | 16,644 | |
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| Outstanding Balance Of Modified Loans to Borrowers Experiencing Financial Difficulty |
The following tables present the amortized cost at June 30, 2025 of loans that were modified during the three and six months ended June 30, 2025 and the amortized cost of at June 30, 2024 of loans that were modified during the three and six months ended June 30, 2024.
| | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended June 30, 2025 |
(Dollars in thousands) | Term Extension | Payment Delay | Interest Rate Reduction | | Other | Total | % of Total Loan Category | | June 30, 2025 | | | | | | | | | Commercial: | | | | | | | | | Business | $ | 35,461 | | $ | — | | $ | — | | | $ | — | | $ | 35,461 | | 0.6 | % | | | | | | | | | | Real estate – business | 1,122 | | — | | — | | | — | | 1,122 | | — | | | Personal Banking: | | | | | | | | | Real estate – personal | — | | 3,633 | | — | | | — | | 3,633 | | 0.1 | | | Consumer | — | | 37 | | 8 | | | — | | 45 | | — | | | | | | | | | | | Consumer credit card | — | | — | | 932 | | | — | | 932 | | 0.2 | | | | | | | | | | | Total | $ | 36,583 | | $ | 3,670 | | $ | 940 | | | $ | — | | $ | 41,193 | | 0.2 | % | | | | | | | | | | For the Six Months Ended June 30, 2025 | | June 30, 2025 | | | | | | | | | Commercial: | | | | | | | | | Business | $ | 52,075 | | $ | — | | $ | — | | | $ | — | | $ | 52,075 | | 0.8 | % | | | | | | | | | | Real estate – business | 77,440 | | — | | — | | | — | | 77,440 | | 2.1 | | | Personal Banking: | | | | | | | | | Real estate – personal | — | | 6,810 | | — | | | — | | 6,810 | | 0.2 | | | Consumer | — | | 37 | | 68 | | | — | | 105 | | — | | | | | | | | | | | Consumer credit card | — | | — | | 1,696 | | | — | | 1,696 | | 0.3 | | | | | | | | | | | Total | $ | 129,515 | | $ | 6,847 | | $ | 1,764 | | | $ | — | | $ | 138,126 | | 0.8 | % |
| | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended June 30, 2024 |
(Dollars in thousands) | Term Extension | Payment Delay | Interest Rate Reduction | | Other | Total | % of Total Loan Category | | June 30, 2024 | | | | | | | | | Commercial: | | | | | | | | | Business | $ | 19,335 | | $ | — | | $ | — | | | $ | — | | $ | 19,335 | | 0.3 | % | | | | | | | | | | Real estate – business | 45,513 | | — | | — | | | — | | 45,513 | | 1.3 | | | Personal Banking: | | | | | | | | | Real estate – personal | 70 | | 1,704 | | — | | | — | | 1,774 | | 0.1 | | | Consumer | — | | — | | 30 | | | 44 | | 74 | | — | | | | | | | | | | | Consumer credit card | — | | — | | 1,124 | | | — | | 1,124 | | 0.2 | | | | | | | | | | | Total | $ | 64,918 | | $ | 1,704 | | $ | 1,154 | | | $ | 44 | | $ | 67,820 | | 0.4 | % | | | | | | | | | | For the Six Months Ended June 30, 2024 | | June 30, 2024 | | | | | | | | | Commercial: | | | | | | | | | Business | $ | 30,575 | | $ | — | | $ | — | | | $ | — | | $ | 30,575 | | 0.5 | % | | | | | | | | | | Real estate – business | 47,787 | | — | | — | | | — | | 47,787 | | 1.3 | | | Personal Banking: | | | | | | | | | Real estate – personal | 309 | | 3,975 | | — | | | — | | 4,284 | | 0.1 | | | Consumer | — | | — | | 58 | | | 44 | | 102 | | — | | | | | | | | | | | Consumer credit card | — | | — | | 1,958 | | | — | | 1,958 | | 0.3 | | | | | | | | | | | Total | $ | 78,671 | | $ | 3,975 | | $ | 2,016 | | | $ | 44 | | $ | 84,706 | | 0.5 | % |
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| Financing receivable, financial impacts of loan modifications and payment deferrals |
The following tables summarize the financial impact of loan modifications and payment deferrals during the three and six months ended June 30, 2025 and June 30, 2024.
| | | | | | | | | | Term Extension | | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | | Commercial: | | | | Business | Extended maturity by a weighted average of 2 months. | Extended maturity by a weighted average of 6 months. | | | | | Real estate – business | Extended maturity by a weighted average of 12 months. | Extended maturity by a weighted average of 11 months. | | Personal Banking: | | | | Real estate – personal | | Extended maturity by a weighted average of 3 months. | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | Commercial: | | | | Business | Extended maturity by a weighted average of 7 months. | Extended maturity by a weighted average of 6 months. | | | | | Real estate – business | Extended maturity by a weighted average of 18 months. | Extended maturity by a weighted average of 10 months. | | Personal Banking: | | | | Real estate – personal | | Extended maturity by a weighted average of 6 months. | | | | | | | | | | | | |
| | | | | | | | | | Payment Delay | | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | | | | | | | | | | | | | | Personal Banking: | | | | Real estate – personal | Deferred certain payments by a weighted average of 22 years. | Deferred certain payments by a weighted average of 4 years. | | Consumer | Deferred certain payments by a weighted average of 8 years. | | | | | | | | | | | | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | | | | | | | | | | | | | Personal Banking: | | | | Real estate – personal | Deferred certain payments by a weighted average of 23 years. | Deferred certain payments by a weighted average of 6 years. | | Consumer | Deferred certain payments by a weighted average of 8 years. | | | | | | | | | | |
| | | | | | | | | | Interest Rate Reduction | | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | | | | | | | | | | | | | | Personal Banking: | | | | | | | Consumer | Reduced contractual interest rate from average 22% to 6%. | Reduced contractual interest rate from average 22% to 6%. | | | | | Consumer credit card | Reduced contractual interest rate from average 22% to 6%. | Reduced contractual interest rate from average 22% to 6%. | | | | | | | | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | | | | | | | | | | | | | Personal Banking: | | | | | | | Consumer | Reduced contractual interest rate from average 22% to 6%. | Reduced contractual interest rate from average 22% to 6%. | | | | | Consumer credit card | Reduced contractual interest rate from average 22% to 6%. | Reduced contractual interest rate from average 22% to 6%. | | | |
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| Financing Receivable, Modified, Subsequent Default |
The following tables provide the amortized cost basis at June 30, 2025 of loans to borrowers experiencing financial difficulty that had a payment default during the three and six months ended June 30, 2025 and were modified within the 12 months preceding the payment default, as well as the amortized cost basis at June 30, 2024 of loans to borrowers experiencing financial difficulty that had a payment default during the three and six months ended June 30, 2024 and had been modified within the 12 months preceding the payment default. For purposes of this disclosure, the Company considers "default" to mean 90 days or more past due as to interest or principal.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended June 30, 2025 | | For the Six Months Ended June 30, 2025 |
(Dollars in thousands) | Term Extension | Payment Delay | Interest Rate Reduction | Interest/Fees Forgiven | | Total | | Term Extension | Payment Delay | Interest Rate Reduction | Interest/Fees Forgiven | | Total | | June 30, 2025 | | | | | | | | | | | | | | | Commercial: | | | | | | | | | | | | | | | Business | $ | 44 | | $ | — | | $ | — | | $ | — | | | $ | 44 | | | $ | 44 | | $ | — | | $ | — | | $ | — | | | $ | 44 | | | | | | | | | | | | | | | | | Real estate – business | 14,792 | | — | | — | | — | | | 14,792 | | | 14,792 | | — | | — | | — | | | 14,792 | | | Personal Banking: | | | | | | | | | | | | | | | Real estate – personal | — | | 1,822 | | — | | — | | | 1,822 | | | — | | 2,836 | | — | | — | | | 2,836 | | | Consumer | — | | — | | 7 | | — | | | 7 | | | — | | — | | 32 | | — | | | 32 | | | | | | | | | | | | | | | | | Consumer credit card | — | | — | | 248 | | — | | | 248 | | | — | | — | | 322 | | — | | | 322 | | | | | | | | | | | | | | | | | Total | $ | 14,836 | | $ | 1,822 | | $ | 255 | | $ | — | | | $ | 16,913 | | | $ | 14,836 | | $ | 2,836 | | $ | 354 | | $ | — | | | $ | 18,026 | | | | | | | | | | | | | | | | | For the Three Months Ended June 30, 2024 | | For the Six Months Ended June 30, 2024 |
(Dollars in thousands) | Term Extension | Payment Delay | Interest Rate Reduction | Interest/Fees Forgiven | | Total | | Term Extension | Payment Delay | Interest Rate Reduction | Interest/Fees Forgiven | | Total | | June 30, 2024 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Personal Banking: | | | | | | | | | | | | | | | Real estate – personal | $ | — | | $ | 1,740 | | $ | — | | $ | — | | | $ | 1,740 | | | $ | — | | $ | 1,956 | | $ | — | | $ | — | | | $ | 1,956 | | | Consumer | — | | — | | 12 | | — | | | 12 | | | — | | — | | 12 | | — | | | 12 | | | | | | | | | | | | | | | | | Consumer credit card | — | | — | | 349 | | 12 | | | 361 | | | — | | — | | 457 | | 12 | | | 469 | | | | | | | | | | | | | | | | | Total | $ | — | | $ | 1,740 | | $ | 361 | | $ | 12 | | | $ | 2,113 | | | $ | — | | $ | 1,956 | | $ | 469 | | $ | 12 | | | $ | 2,437 | |
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| Financing Receivable, Modified, Past Due |
The following tables present the amortized cost basis at June 30, 2025 of loans to borrowers experiencing financial difficulty that had been modified within the previous 12 months as well as the amortized cost basis at June 30, 2024 of loans to borrowers experiencing financial difficulty that had been modified within the 12 months preceding June 30, 2024.
| | | | | | | | | | | | | | |
(In thousands) | Current | 30-89 Days Past Due | 90 Days Past Due | Total | | June 30, 2025 | | | | | | Commercial: | | | | | | Business | $ | 81,600 | | $ | — | | $ | 45 | | $ | 81,645 | | | | | | | | Real estate – business | 108,690 | | — | | 14,632 | | 123,322 | | | Personal Banking: | | | | | | Real estate – personal | 9,498 | | 1,117 | | 1,822 | | 12,437 | | | Consumer | 138 | | 723 | | 7 | | 868 | | | | | | | | Consumer credit card | 2,447 | | 233 | | 248 | | 2,928 | | | | | | | | Total | $ | 202,373 | | $ | 2,073 | | $ | 16,754 | | $ | 221,200 | |
| | | | | | | | | | | | | | |
(In thousands) | Current | 30-89 Days Past Due | 90 Days Past Due | Total | | June 30, 2024 | | | | | | Commercial: | | | | | | Business | $ | 32,565 | | $ | — | | $ | — | | $ | 32,565 | | | | | | | | Real estate – business | 74,512 | | — | | — | | 74,512 | | | Personal Banking: | | | | | | Real estate – personal | 2,129 | | 2,004 | | 1,740 | | 5,873 | | | Consumer | 172 | | 1 | | 12 | | 185 | | | | | | | | Consumer credit card | 2,337 | | 478 | | 321 | | 3,136 | | | | | | | | Total | $ | 111,715 | | $ | 2,483 | | $ | 2,073 | | $ | 116,271 | |
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