v3.26.1
Loans and Allowance for Credit Losses (Tables)
 3 Months Ended
Mar. 31, 2026
Receivables [Abstract]  
Schedule of Accounts, Notes, Loans and Financing Receivable
The following table provides a summary of the Company’s loan portfolio as of the dates indicated:
March 31, 2026December 31, 2025
(In thousands)
Commercial and industrial$4,373,727 $4,324,615 
Commercial real estate9,475,352 9,529,071 
Commercial construction503,192 567,597 
Business banking1,545,197 1,603,489 
Residential real estate5,466,975 5,516,114 
Consumer home equity1,765,450 1,758,099 
Other consumer258,101 275,511 
Gross loans before unearned discounts and deferred fees, net23,387,994 23,574,496 
Allowance for loan losses (1)
(327,892)(331,841)
Unearned discounts and deferred fees, net(463,950)(489,431)
Loans after the allowance for loan losses and net unearned discounts and deferred fees$22,596,152 $22,753,224 
(1)The balance of accrued interest receivable excluded from amortized cost and the calculation of the allowance for loan losses amounted to $81.2 million and $81.9 million as of March 31, 2026 and December 31, 2025, respectively, and is included within other assets on the Consolidated Balance Sheets.
Schedule of Financing Receivable, Allowance for Credit Loss
The following tables summarize the changes in the allowance for loan losses by loan category for the periods indicated:
For the Three Months Ended March 31, 2026
Commercial
and
Industrial		Commercial
Real Estate		Commercial
Construction		Business
Banking		Residential
Real Estate		Consumer
Home
Equity		Other
Consumer		Total
(In thousands)
Allowance for loan losses:
Beginning balance$65,768 $164,376 $21,058 $22,921 $44,177 $9,171 $4,370 $331,841 
Charge-offs(6,500)(3,588)— (2,214)— (4)(612)(12,918)
Recoveries794 — — 2,130 32 63 194 3,213 
(Release) provision(554)18,038 (9,935)(678)(1,568)397 56 5,756 
Ending balance$59,508 $178,826 $11,123 $22,159 $42,641 $9,627 $4,008 $327,892 
For the Three Months Ended March 31, 2025
Commercial
and
Industrial		Commercial
Real Estate		Commercial
Construction		Business
Banking		Residential
Real Estate		Consumer
Home Equity		Other
Consumer		Total
(In thousands)
Allowance for loan losses:
Beginning balance$41,090 $116,175 $8,462 $19,899 $32,291 $7,472 $3,563 $228,952 
Charge-offs— (11,587)— (342)— — (558)(12,487)
Recoveries11 694 — 322 39 — 179 1,245 
Provision (release)5,389 1,352 52 436 (1,234)(581)1,186 6,600 
Ending balance$46,490 $106,634 $8,514 $20,315 $31,096 $6,891 $4,370 $224,310 
Schedule of details the internal risk-rating categories for the Company's commercial and industrial, commercial real estate, commercial construction and business banking portfolios
The following table details the amortized cost balances of the Company’s loan portfolios, presented by credit quality indicator and origination year as of March 31, 2026, and gross charge-offs for the nine-month period then ended:
20262025202420232022PriorRevolving Loans
Revolving Loans Converted to Term Loans (1)
Total
(In thousands)
Commercial and industrial
Pass$191,100 $744,921 $295,320 $268,393 $415,726 $1,450,258 $781,734 $— $4,147,452 
Special Mention— 602 2,237 6,425 1,331 3,492 26,925 — 41,012 
Substandard— 4,032 18 39,594 21,019 19,196 70,335 — 154,194 
Doubtful— — — 3,128 818 8 — — 3,954 
Loss— — — — — — — — — 
Total commercial and industrial191,100 749,555 297,575 317,540 438,894 1,472,954 878,994 — 4,346,612 
Current period gross charge-offs— — — 6,500 — — — — 6,500 
Commercial real estate
Pass186,085 919,258 610,246 720,709 2,245,884 4,056,208 87,152 804 8,826,346 
Special Mention— — 822 30,574 38,493 158,299 — 988 229,176 
Substandard— 14,128 — 54,775 77,282 79,633 — — 225,818 
Doubtful— — — 3,170 66,062 22,904 — — 92,136 
Loss— — — — — — — — — 
Total commercial real estate186,085 933,386 611,068 809,228 2,427,721 4,317,044 87,152 1,792 9,373,476 
Current period gross charge-offs— — — — 2,088 1,500 — — 3,588 
Commercial construction
Pass6,947 163,468 212,789 85,518 14,072 — 4,144 — 486,938 
Special Mention— — — — — — — — — 
Substandard— — 6,934 — 8,165 — — — 15,099 
Doubtful— — — — — — — — — 
Loss— — — — — — — — — 
Total commercial construction6,947 163,468 219,723 85,518 22,237 — 4,144 — 502,037 
Current period gross charge-offs— — — — — — — — — 
Business banking
Pass29,222 177,798 167,396 131,694 162,443 711,161 115,578 2,287 1,497,579 
Special Mention— — 4,635 675 497 9,066 1,164 — 16,037 
Substandard— 933 5,466 5,197 3,038 7,014 17 — 21,665 
Doubtful— — 103 18 — 1,436 — — 1,557 
Loss— — — — — — — — — 
Total business banking29,222 178,731 177,600 137,584 165,978 728,677 116,759 2,287 1,536,838 
Current period gross charge-offs— 148 246 225 94 1,460 — 41 2,214 
Residential real estate
Current and accruing62,320 424,951 229,518 373,382 1,218,883 2,809,981 — — 5,119,035 
30-89 days past due and accruing— 363 1,379 7,389 13,266 24,673 — — 47,070 
Loans 90 days or more past due and still accruing— — — — — — — — — 
Non-accrual— 183 244 819 4,919 15,774 — — 21,939 
Total residential real estate62,320 425,497 231,141 381,590 1,237,068 2,850,428 — — 5,188,044 
Current period gross charge-offs— — — — — — — — — 
Consumer home equity
Current and accruing— 7,204 11,265 23,845 60,293 99,974 1,532,713 9,949 1,745,243 
30-89 days past due and accruing— — 105 156 168 987 9,018 60 10,494 
Loans 90 days or more past due and still accruing— — — — — — — — — 
Non-accrual— — — — — 1,739 4,024 73 5,836 
Total consumer home equity— 7,204 11,370 24,001 60,461 102,700 1,545,755 10,082 1,761,573 
Current period gross charge-offs— — — — — 4 — — 4 
Other consumer
Current and accruing9,673 35,816 43,146 46,150 18,582 23,059 38,240 2 214,668 
30-89 days past due and accruing— 82 106 103 82 28 280 — 681 
Loans 90 days or more past due and still accruing— — — — — — — — — 
Non-accrual— 20 35 7 10 — 43 — 115 
Total other consumer9,673 35,918 43,287 46,260 18,674 23,087 38,563 2 215,464 
Current period gross charge-offs268 45 77 20 40 76 86 — 612 
Total$485,347 $2,493,759 $1,591,764 $1,801,721 $4,371,033 $9,494,890 $2,671,367 $14,163 $22,924,044 
(1)The amounts presented represent the amortized cost as of March 31, 2026 of revolving loans that were converted to term loans during the three months ended March 31, 2026.
The following table details the amortized cost balances of the Company’s loan portfolios, presented by credit quality indicator and origination year as of December 31, 2025, and reflects such reclassifications:
20252024202320222021PriorRevolving Loans
Revolving Loans Converted to Term Loans (1)
Total
(In thousands)
Commercial and industrial
Pass$835,431 $310,569 $296,116 $422,850 $378,622 $1,090,152 $792,359 $165 $4,126,264 
Special Mention948 2,399 6,716 133 1,314 2,795 12,990 — 27,295 
Substandard4,093 10,974 31,539 22,819 2,806 4,893 53,495 — 130,619 
Doubtful— — 9,628 — — 1,049 847 — 11,524 
Loss— — — — — — — — — 
Total commercial and industrial840,472 323,942 343,999 445,802 382,742 1,098,889 859,691 165 4,295,702 
Commercial real estate
Pass903,311 616,073 750,447 2,297,477 1,285,420 2,892,767 102,016 2,747 8,850,258 
Special Mention— 865 30,585 28,104 90,528 73,987 994 — 225,063 
Substandard14,027 — 54,833 85,591 13,408 65,778 — — 233,637 
Doubtful— — 20,852 55,698 2,381 26,472 — — 105,403 
Loss— — — — — — — — — 
Total commercial real estate917,338 616,938 856,717 2,466,870 1,391,737 3,059,004 103,010 2,747 9,414,361 
Commercial construction
Pass134,110 209,193 103,355 65,595 14,263 712 8,117 — 535,345 
Special Mention— 423 — 4,671 — — 1,033 — 6,127 
Substandard— — — 5,646 — — — — 5,646 
Doubtful— — — 14,888 — 1,479 — — 16,367 
Loss— — — — — — — — — 
Total commercial construction134,110 209,616 103,355 90,800 14,263 2,191 9,150 — 563,485 
Business banking
Pass182,967 175,785 139,676 180,091 210,893 549,839 114,235 5,762 1,559,248 
Special Mention— 5,505 1,444 820 4,453 3,298 165 264 15,949 
Substandard1,525 3,412 3,482 2,845 1,765 3,769 197 493 17,488 
Doubtful— — 412 352 28 3 196 18 1,009 
Loss— — — — — — — — — 
Total business banking184,492 184,702 145,014 184,108 217,139 556,909 114,793 6,537 1,593,694 
Residential real estate
Current and accruing433,413 239,268 394,753 1,242,550 1,323,273 1,544,328 — — 5,177,585 
30-89 days past due and accruing1,045 2,625 2,130 6,121 5,801 17,654 — — 35,376 
Loans 90 days or more past due and still accruing— — — — — — — — — 
Non-accrual184 — 721 5,686 1,948 10,680 — — 19,219 
Total residential real estate434,642 241,893 397,604 1,254,357 1,331,022 1,572,662 — — 5,232,180 
Consumer home equity
Current and accruing32,940 43,175 53,426 104,417 31,698 117,896 1,332,194 20,341 1,736,087 
30-89 days past due and accruing248 58 233 251 — 1,716 8,269 655 11,430 
Loans 90 days or more past due and still accruing— — — — — — — — — 
Non-accrual— — 95 — — 1,126 4,555 317 6,093 
Total consumer home equity33,188 43,233 53,754 104,668 31,698 120,738 1,345,018 21,313 1,753,610 
Other consumer
Current and accruing44,301 46,109 49,860 20,675 11,399 15,976 42,750 117 231,187 
30-89 days past due and accruing10 98 75 52 31 36 62 30 394 
Loans 90 days or more past due and still accruing— — — — — — — — — 
Non-accrual48 4 13 30 — 12 84 261 452 
Total other consumer44,359 46,211 49,948 20,757 11,430 16,024 42,896 408 232,033 
Total$2,588,601 $1,666,535 $1,950,391 $4,567,362 $3,380,031 $6,426,417 $2,474,558 $31,170 $23,085,065 
(1)The amounts presented represent the amortized cost as of December 31, 2025 of revolving loans that were converted to term loans during the year ended December 31, 2025.
Schedule of age analysis of past due loans
The following tables show the age analysis of past due loans as of the dates indicated:
As of March 31, 2026
30-59
Days Past
Due		60-89
Days Past
Due		90 or More
Days Past
Due		Total Past
Due		CurrentTotal
Loans
(In thousands)
Commercial and industrial$2,357 $60 $4,116 $6,533 $4,340,079 $4,346,612 
Commercial real estate11,613 821 9,390 21,824 9,351,652 9,373,476 
Commercial construction— — — — 502,037 502,037 
Business banking11,154 3,698 10,946 25,798 1,511,040 1,536,838 
Residential real estate38,995 8,506 20,230 67,731 5,120,313 5,188,044 
Consumer home equity6,520 4,438 5,071 16,029 1,745,544 1,761,573 
Other consumer517 164 90 771 214,693 215,464 
Total$71,156 $17,687 $49,843 $138,686 $22,785,358 $22,924,044 
As of December 31, 2025
30-59
Days Past
Due		60-89
Days Past
Due		90 or More
Days Past
Due		Total Past
Due		CurrentTotal
Loans
(In thousands)
Commercial and industrial$5,368 $164 $1,591 $7,123 $4,288,579 $4,295,702 
Commercial real estate5,992 994 14,174 21,160 9,393,201 9,414,361 
Commercial construction— — 1,033 1,033 562,452 563,485 
Business banking16,673 3,530 8,994 29,197 1,564,497 1,593,694 
Residential real estate26,493 10,361 16,543 53,397 5,178,783 5,232,180 
Consumer home equity9,929 2,141 5,321 17,391 1,736,219 1,753,610 
Other consumer284 114 417 815 231,218 232,033 
Total$64,739 $17,304 $48,073 $130,116 $22,954,949 $23,085,065 
Schedule of pertaining to the breakdown of the Company's nonaccrual loans
The following table presents information regarding non-accrual loans as of the dates indicated:
As of March 31, 2026As of December 31, 2025
Non-Accrual Loans With ACLNon-Accrual Loans Without ACL (1)Total Nonaccrual LoansNon-Accrual Loans With ACL
Non-Accrual Loans Without ACL (1)
Total Nonaccrual Loans
(In thousands)
Commercial and industrial$184 $3,953 $4,137 $8,810 $3,284 $12,094 
Commercial real estate67,944 24,192 92,136 70,010 35,402 105,412 
Commercial construction— — — 17,400 — 17,400 
Business banking12,567 938 13,505 11,319 350 11,669 
Residential real estate21,939 — 21,939 19,219 — 19,219 
Consumer home equity5,836 — 5,836 6,093 — 6,093 
Other consumer115 — 115 452 — 452 
Total non-accrual loans$108,585 $29,083 $137,668 $133,303 $39,036 $172,339 
(1)The loans on non-accrual status and without an ACL, as of both March 31, 2026 and December 31, 2025, were primarily comprised of collateral dependent loans for which the fair value of the underlying loan collateral exceeded the loan carrying value.
Schedule of the modifications which occurred during the periods and the change in the recorded investment subsequent to the modifications occurring
The following table shows the amortized cost balance as of March 31, 2026 of loans modified during the three month periods then ended to borrowers experiencing financial difficulty by the type of concession granted:
During the Three Months Ended March 31,
20262025
Amortized Cost Balance% of Total PortfolioAmortized Cost Balance% of Total Portfolio
(Dollars in thousands)
Interest Rate Reduction:
Business banking$82 0.01 %$39 0.00 %
Consumer home equity— — %80 0.01 %
Total interest rate reduction$82 0.00 %$119 0.00 %
Other-than-Insignificant Delay in Repayment:
Business banking$4,055 0.26 %$125 0.01 %
Consumer home equity150 0.01 %— — %
Total other-than-insignificant delay in repayment$4,205 0.02 %$125 0.00 %
Term Extension:
Commercial real estate$26,830 0.29 %$3,795 0.11 %
Business banking533 0.03 %— — %
Residential real estate137 0.00 %— — %
Total term extension$27,500 0.12 %$3,795 0.02 %
Combination—Interest Rate Reduction & Other-than-Insignificant-Delay in Repayment:
Business banking$2,199 0.14 %$— — %
Total combination—interest rate reduction & other-than-insignificant delay in repayment$2,199 0.01 %$— — %
Combination—Term Extension & Other-than-Insignificant Delay in Repayment:
Business banking$— — %$316 0.02 %
Total combination—term extension & other-than-insignificant delay in repayment$— — %$316 0.00 %
Total by portfolio segment
Commercial real estate$26,830 0.29 %$3,795 0.11 %
Business banking6,869 0.45 %480 0.03 %
Residential real estate1370.00 %—— %
Consumer home equity150 0.01 %80 0.01 %
Total$33,986 0.15 %$4,355 0.02 %
The following tables describe the financial effect of the modifications made during the periods indicated to borrowers experiencing financial difficulty. Loans that were modified in more than one manner are included in each modification type corresponding to the types of modifications performed.
Three Months Ended March 31, 2026
Loan TypeFinancial Effect
Interest Rate Reduction
Business banking
Reduced weighted-average contractual interest rate from 10.5% to 7.5%.
Other-than-Insignificant Delay in Repayment
Business banking
Deferred a weighted-average of 8 payments. For principal and interest deferrals, the loans were re-amortized over an extended payment period resulting in reduced monthly payment amounts for the borrowers. For interest-only deferrals, interest accrued at the time of the modification was added to the end of the loan life.
Consumer home equity
Deferred 9 principal and interest payments which were added to the end of the loan life.
Term Extension
Commercial real estate
Added a weighted-average of 3 months to the lives of the loans, which reduced monthly payment amounts for the borrowers.
Business banking
Added 4 months to the life of the loan, which reduced monthly payment amounts for the borrower.
Residential real estate
Added 6 months to the life of the loan, which reduced monthly payment amounts for the borrower.
Three Months Ended March 31, 2025
Loan TypeFinancial Effect (1)
Interest Rate Reduction
Business banking
Reduced contractual interest rate of one loan from 7.8% to 6.0%.
Consumer home equity
Reduced contractual interest rate of one loan from 7.0% to 5.0%.
Other-than-Insignificant Delay in Repayment
Business banking
Deferred a weighted average of 7 payments. For principal and interest deferrals, the loans were re-amortized over an extended payment period resulting in reduced monthly payment amounts for the borrowers. For interest-only deferrals, interest accrued at the time of the modification was added to the end of the loan life.
Term Extension
Commercial and industrial
Added 1.1 years to the life of one loan, which reduced the monthly payment amount for the borrower.
Business banking
Added a weighted-average of 8 months to the lives of the loans, which reduced monthly payment amounts for the borrowers.
(1)Loans that were modified in more than one manner are included in each modification type corresponding to the type of modifications performed.
Schedule of the age analysis of past due loans to borrowers experiencing financial difficulty The following table shows the age analysis of past due loans to borrowers experiencing financial difficulty that were modified during the prior twelve months as of March 31, 2026:
As of March 31, 2026
30-59
Days Past
Due		60-89
Days Past
Due		90 or More
Days Past
Due		Total Past
Due		CurrentTotal
(In thousands)
Commercial and industrial$— $— $— $— $980 $980 
Commercial real estate— — — — 67,720 67,720 
Business banking— — 546 546 8,341 8,887 
Residential real estate— 357 — 357 845 1,202 
Consumer home equity— 144 148 292 489 781 
Total$— $501 $694 $1,195 $78,375 $79,570 
The following table shows the age analysis of past due loans to borrowers experiencing financial difficulty that were modified during the prior twelve months as of March 31, 2025:
As of March 31, 2025
30-59
Days Past
Due		60-89
Days Past
Due		90 or More
Days Past
Due		Total Past
Due		CurrentTotal
(In thousands)
Commercial and industrial$— $— $— $— $3,795 $3,795 
Commercial real estate— — — — 9,981 9,981 
Business banking53 — — 53 1,209 1,262 
Residential real estate450 115 — 565 745 1,310 
Consumer home equity1 — — 1 1,663 1,664 
Total$504 $115 $— $619 $17,393 $18,012 
Schedule of the Company's loan participations
The following table summarizes the Company’s loan participations:
As of and for the Three Months Ended March 31, 2026As of and for the Year Ended December 31, 2025
BalanceNon-performing
Loan Rate
(%)		Gross
Charge-offs		BalanceNon-performing
Loan Rate
(%)		Gross
Charge-offs
(Dollars in thousands)
Commercial and industrial$1,454,063 0.22 %$6,500 $1,504,012 0.64 %$5,004 
Commercial real estate1,174,332 1.45 %1,500 1,611,130 1.84 %5,282 
Commercial construction82,214 0.00 %— 190,156 8.61 %— 
Business banking280 0.00 %— 1,072 0.00 %15 
Total loan participations$2,710,889 0.74 %$8,000 $3,306,370 1.68 %$10,301