v3.26.1
Loans and Leases
 6 Months Ended
Jun. 30, 2026
Receivables [Abstract]  
Loans and Leases Loans and Leases
The following table summarizes loans and leases by portfolio segment and class:
(In thousands)June 30,
2026		December 31, 2025
Commercial non-mortgage$21,497,447 $20,405,237 
Asset-based1,036,823 1,231,231 
Commercial real estate15,345,465 15,326,007 
Multi-family7,447,623 7,008,839 
Equipment financing1,204,691 1,258,882 
Commercial portfolio46,532,049 45,230,196 
Residential9,600,445 9,599,577 
Home equity1,341,382 1,370,513 
Other consumer394,802 396,824 
Consumer portfolio11,336,629 11,366,914 
Loans and leases$57,868,678 $56,597,110 
The carrying amount of loans and leases includes net unamortized (discounts)/premiums and net unamortized deferred (fees)/costs, in aggregate, of $18.4 million at June 30, 2026, and $16.3 million at December 31, 2025. Accrued interest receivable of $286.2 million at June 30, 2026, and $282.5 million at December 31, 2025, is excluded from the carrying amount of loans and leases and included in Accrued interest receivable and other assets on the accompanying Condensed Consolidated Balance Sheets.
The Company had pledged eligible loans as collateral of $18.1 billion at June 30, 2026, and $17.2 billion at December 31, 2025, to support borrowing capacity at the FHLB of Boston, and $6.7 billion at June 30, 2026, and $7.2 billion at December 31, 2025, to support borrowing capacity at the FRB of New York.
Non-Accrual and Past Due Loans and Leases
The following tables summarize the aging of accrual and non-accrual loans and leases by class:
 June 30, 2026
(In thousands)30-59 Days
Past Due and
Accruing		60-89 Days
Past Due and
Accruing		90 or More Days Past Due
and Accruing		Non-accrualTotal Past Due and
Non-accrual
Current (1)
Total Loans
and Leases
Commercial non-mortgage$4,664 $999 $— $174,894 $180,557 $21,316,890 $21,497,447 
Asset-based— — — 34,303 34,303 1,002,520 1,036,823 
Commercial real estate26,485 781 — 139,019 166,285 15,179,180 15,345,465 
Multi-family12,072 32,402 — 36,535 81,009 7,366,614 7,447,623 
Equipment financing547 2,803 3 5,430 8,783 1,195,908 1,204,691 
Commercial portfolio43,768 36,985 3 390,181 470,937 46,061,112 46,532,049 
Residential17,410 7,760 — 19,323 44,493 9,555,952 9,600,445 
Home equity7,294 1,614 — 18,653 27,561 1,313,821 1,341,382 
Other consumer1,340 1,419 — 960 3,719 391,083 394,802 
Consumer portfolio26,044 10,793 — 38,936 75,773 11,260,856 11,336,629 
Total$69,812 $47,778 $3 $429,117 $546,710 $57,321,968 $57,868,678 
(1)At June 30, 2026, there was $13.5 million of commercial real estate loans that had reached their contractual maturity but were actively in the process of being refinanced with the Company. Due to the status of these refinancings, these commercial real estate loans have been reported as current in the table above.
 December 31, 2025
(In thousands)30-59 Days
Past Due and
Accruing		60-89 Days
Past Due and
Accruing		90 or More Days Past Due
and Accruing		Non-accrualTotal Past Due and
Non-accrual		CurrentTotal Loans
and Leases
Commercial non-mortgage$12,397 $1,547 $— $165,378 $179,322 $20,225,915 $20,405,237 
Asset-based— — — 66,844 66,844 1,164,387 1,231,231 
Commercial real estate23,702 838 — 182,968 207,508 15,118,499 15,326,007 
Multi-family476 — — 41,095 41,571 6,967,268 7,008,839 
Equipment financing2,279 256 — 8,340 10,875 1,248,007 1,258,882 
Commercial portfolio38,854 2,641 — 464,625 506,120 44,724,076 45,230,196 
Residential12,163 3,074 — 18,187 33,424 9,566,153 9,599,577 
Home equity5,602 2,126 — 16,743 24,471 1,346,042 1,370,513 
Other consumer1,370 830 — 859 3,059 393,765 396,824 
Consumer portfolio19,135 6,030 — 35,789 60,954 11,305,960 11,366,914 
Total$57,989 $8,671 $— $500,414 $567,074 $56,030,036 $56,597,110 
The following table provides additional information on non-accrual loans and leases:
June 30, 2026December 31, 2025
(In thousands)Non-accrualNon-accrual with No AllowanceNon-accrualNon-accrual with No Allowance
Commercial non-mortgage$174,894 $42,119 $165,378 $52,284 
Asset-based34,303 6,000 66,844 774 
Commercial real estate139,019 38,690 182,968 53,385 
Multi-family36,535 27,335 41,095 31,873 
Equipment financing5,430 2,327 8,340 181 
Commercial portfolio390,181 116,471 464,625 138,497 
Residential19,323 8,353 18,187 8,284 
Home equity18,653 10,566 16,743 8,688 
Other consumer960 — 859 — 
Consumer portfolio38,936 18,919 35,789 16,972 
Total $429,117 $135,390 $500,414 $155,469 
Allowance for Credit Losses on Loans and Leases
The following table summarizes the change in the ACL on loans and leases by portfolio segment:
Three months ended June 30,
20262025
(In thousands)Commercial PortfolioConsumer PortfolioTotalCommercial PortfolioConsumer PortfolioTotal
ACL on loans and leases:
Balance, beginning of period$641,963 $91,471 $733,434 $649,450 $63,871 $713,321 
Provision (benefit)34,207 (1,097)33,110 45,635 (509)45,126 
Charge-offs(40,896)(4,098)(44,994)(39,792)(1,446)(41,238)
Recoveries1,055 1,241 2,296 3,250 1,587 4,837 
Balance, end of period$636,329 $87,517 $723,846 $658,543 $63,503 $722,046 
 Six months ended June 30,
20262025
(In thousands)Commercial PortfolioConsumer PortfolioTotalCommercial PortfolioConsumer PortfolioTotal
ACL on loans and leases:
Balance, beginning of period$631,377 $88,034 $719,411 $635,871 $53,695 $689,566 
Provision 84,001 4,348 88,349 113,838 10,000 123,838 
Charge-offs(81,121)(8,095)(89,216)(95,358)(2,498)(97,856)
Recoveries2,072 3,230 5,302 4,192 2,306 6,498 
Balance, end of period$636,329 $87,517 $723,846 $658,543 $63,503 $722,046 
Individually evaluated for credit losses90,020 799 90,819 95,323 811 96,134 
Collectively evaluated for credit losses$546,309 $86,718 $633,027 $563,220 $62,692 $625,912 
Concentrations of Credit Risk
Concentrations of credit risk may exist when a number of borrowers are engaged in similar activities, or activities in the same geographic region, and have similar economic characteristics that would cause them to be similarly impacted by changes in economic or other conditions. Concentrations of credit risk are controlled and monitored as part of the Company’s credit policies and procedures. The Company is a regional financial services holding company in the Northeast U.S. with a commercial concentration primarily in five geographic markets: New York City, Other New York Counties, Connecticut, New Jersey, and Massachusetts; and secondarily in the Southeast and Other states.
The Company’s concentration of credit risk associated with commercial non-mortgage loans represented 37.1% at June 30, 2026, and 36.0% at December 31, 2025, of total loans and leases. The Company’s concentration of credit risk associated with commercial real estate and multi-family loans, in aggregate, represented 39.4% at June 30, 2026, and 39.5% at December 31, 2025, of total loans and leases.
Credit Quality Indicators
To measure credit risk for the commercial portfolio, the Company employs a dual grade credit risk grading system for estimating the PD and LGD. The credit risk grade system assigns a rating to each borrower and to the facility, which together form a Composite Credit Risk Profile. The credit risk grade system categorizes borrowers by common financial characteristics that measure the credit strength of borrowers and facilities by common structural characteristics. The Composite Credit Risk Profile has ten grades, with each grade corresponding to a progressively greater risk of loss. Grades (1) to (6) are considered pass ratings, and grades (7) to (10) are considered criticized, as defined by the regulatory agencies. A (7) “Special Mention” rating has a potential weakness that, if left uncorrected, may result in deterioration of the repayment prospects for the asset. An (8) “Substandard” rating has a well-defined weakness that jeopardizes the full repayment of the debt. A (9) “Doubtful” rating has all of the same weaknesses as a substandard asset with the added characteristic that the weakness makes collection or liquidation in full, given current facts, conditions, and values, improbable. Assets classified as a (10) “Loss” rating are considered uncollectible and charged-off. Risk ratings, which are assigned to differentiate risk within the portfolio, are reviewed on an ongoing basis and revised to reflect changes in a borrower’s current financial position and outlook, risk profile, and the related collateral and structural position. Loan officers review updated financial information or other loan factors on at least an annual basis for all pass rated loans to assess the accuracy of the risk grade. Criticized loans undergo more frequent reviews and enhanced monitoring.
To measure credit risk for the consumer portfolio, the most relevant credit characteristic is the FICO score, which is a widely used credit scoring system that ranges from 300 to 850. A lower FICO score is indicative of higher credit risk and a higher FICO score is indicative of lower credit risk. FICO scores are updated at least quarterly. Factors such as past due status, employment status, collateral, geography, loans discharged in bankruptcy, and the status of first lien position loans on second lien position loans, are also considered to be consumer portfolio credit quality indicators. For portfolio monitoring purposes, the Company estimates the current value of property secured as collateral for home equity and residential first mortgage lending products on an ongoing basis. The estimate is based on home price indices compiled by the S&P/Case-Shiller Home Price Indices. Real estate price data is applied to the loan portfolios taking into account the age of the most recent valuation and geographic area.
The following tables summarize the amortized cost of commercial loans and leases by Composite Credit Risk Profile grade and origination year:
June 30, 2026
(In thousands)20262025202420232022PriorRevolving Loans Amortized Cost BasisTotal
Commercial non-mortgage:
Risk rating:
Pass$1,600,624 $3,062,734 $1,902,914 $1,270,016 $1,599,749 $2,153,665 $8,808,736 $20,398,438 
Special mention— 1,660 42,497 10,518 148,552 20,326 32,599 256,152 
Substandard7,842 37,749 36,231 166,539 260,990 165,098 168,378 842,827 
Doubtful— — — 1 — 28 1 30 
Total commercial non-mortgage1,608,466 3,102,143 1,981,642 1,447,074 2,009,291 2,339,117 9,009,714 21,497,447 
Current period gross write-offs— 238 757 165 6,514 9,940 9,588 27,202 
Asset-based:
Risk rating:
Pass— 10,250 174 1,280 — 14,402 860,602 886,708 
Special mention— — — — — — 23,665 23,665 
Substandard— 1,327 — 9,291 — 4,004 111,828 126,450 
Total asset-based— 11,577 174 10,571 — 18,406 996,095 1,036,823 
Current period gross write-offs— — — 286 — — 14,294 14,580 
Commercial real estate:
Risk rating:
Pass1,890,469 3,178,130 1,866,468 1,598,079 1,938,108 3,860,879 351,527 14,683,660 
Special mention82,041 22,905 — 31,359 16,608 41,458 364 194,735 
Substandard— 2,000 14,438 114,470 132,909 203,253 — 467,070 
Total commercial real estate1,972,510 3,203,035 1,880,906 1,743,908 2,087,625 4,105,590 351,891 15,345,465 
Current period gross write-offs— — — 20,635 4,479 5,300 — 30,414 
Multi-family:
Risk rating:
Pass767,298 722,829 657,530 1,191,127 1,336,309 2,558,310 — 7,233,403 
Special mention— — — — — 41,119 — 41,119 
Substandard316 — — 11,594 46,777 114,414 — 173,101 
Total multi-family767,614 722,829 657,530 1,202,721 1,383,086 2,713,843 — 7,447,623 
Current period gross write-offs— — — — 2,556 1,601 — 4,157 
Equipment financing:
Risk rating:
Pass163,293 411,195 266,906 114,490 90,750 93,331 — 1,139,965 
Special mention— — 5,188 271 1,750 1,762 — 8,971 
Substandard3,395 8,899 1,933 13,337 19,978 8,213 — 55,755 
Total equipment financing166,688 420,094 274,027 128,098 112,478 103,306 — 1,204,691 
Current period gross write-offs— — 324 2,020 549 1,875 — 4,768 
Total commercial portfolio4,515,278 7,459,678 4,794,279 4,532,372 5,592,480 9,280,262 10,357,700 46,532,049 
Current period gross write-offs$— $238 $1,081 $23,106 $14,098 $18,716 $23,882 $81,121 
December 31, 2025
(In thousands)20252024202320222021PriorRevolving Loans Amortized Cost BasisTotal
Commercial non-mortgage:
Risk rating:
Pass$3,378,004 $2,340,865 $1,463,952 $1,857,656 $853,239 $1,420,790 $7,929,719 $19,244,225 
Special mention4,213 46,657 50,332 181,775 32,948 15,264 38,883 370,072 
Substandard67,353 33,646 144,627 219,885 88,312 42,874 194,220 790,917 
Doubtful— — — — 1 22 — 23 
Total commercial non-mortgage3,449,570 2,421,168 1,658,911 2,259,316 974,500 1,478,950 8,162,822 20,405,237 
Current period gross write-offs6,716 3,550 7,817 13,774 721 17,166 26,157 75,901 
Asset-based:
Risk rating:
Pass10,550 199 2,320 — — 15,901 1,036,960 1,065,930 
Special mention— — 7,063 — — — 8,069 15,132 
Substandard1,445 — 3,898 — — 4,833 139,993 150,169 
Total asset-based11,995 199 13,281 — — 20,734 1,185,022 1,231,231 
Current period gross write-offs— — — — — — 37,870 37,870 
Commercial real estate:
Risk rating:
Pass3,462,637 2,091,777 2,092,674 2,337,376 1,105,105 3,268,858 273,252 14,631,679 
Special mention— — 16,834 75,651 — 29,401 — 121,886 
Substandard— 3,240 168,356 93,572 100,957 206,317 — 572,442 
Total commercial real estate3,462,637 2,095,017 2,277,864 2,506,599 1,206,062 3,504,576 273,252 15,326,007 
Current period gross write-offs— — 31,057 256 1,283 27,514 — 60,110 
Multi-family:
Risk rating:
Pass736,744 691,180 1,193,933 1,370,368 810,954 1,988,941 — 6,792,120 
Special mention— — — — 3,865 68,742 — 72,607 
Substandard— — 11,915 26,377 38,819 67,001 — 144,112 
Total multi-family736,744 691,180 1,205,848 1,396,745 853,638 2,124,684 — 7,008,839 
Current period gross write-offs— — — — — 990 — 990 
Equipment financing:
Risk rating:
Pass454,313 305,538 141,372 120,382 59,566 96,161 — 1,177,332 
Special mention4,931 5,700 2,573 2,430 1,087 1,663 — 18,384 
Substandard3,145 696 17,898 24,897 9,501 7,029 — 63,166 
Total equipment financing462,389 311,934 161,843 147,709 70,154 104,853 — 1,258,882 
Current period gross write-offs— — 1,356 4,614 174 749 — 6,893 
Total commercial portfolio8,123,335 5,519,498 5,317,747 6,310,369 3,104,354 7,233,797 9,621,096 45,230,196 
Current period gross write-offs$6,716 $3,550 $40,230 $18,644 $2,178 $46,419 $64,027 $181,764 
The following tables summarize the amortized cost of consumer loans by FICO score and origination year:
June 30, 2026
(In thousands)20262025202420232022PriorRevolving Loans Amortized Cost BasisTotal
Residential:
Risk rating:
800+$139,521 $657,403 $475,425 $267,051 $908,648 $2,234,546 $— $4,682,594 
740-799291,712 572,447 335,568 166,214 457,128 1,249,206 — 3,072,275 
670-73983,659 155,207 103,564 63,546 260,912 809,237 — 1,476,125 
580-6691,162 23,155 17,349 18,651 57,508 136,692 — 254,517 
579 and below416 2,449 3,520 8,293 20,297 79,959 — 114,934 
Total residential516,470 1,410,661 935,426 523,755 1,704,493 4,509,640 — 9,600,445 
Current period gross write-offs— — — — 102 30 — 132 
Home equity:
Risk rating:
800+7,189 12,761 9,252 20,955 22,603 88,613 353,568 514,941 
740-7994,611 12,304 8,219 14,610 13,259 51,689 304,125 408,817 
670-7393,408 10,258 7,981 9,809 9,550 30,088 211,387 282,481 
580-669730 1,776 1,921 2,489 3,038 11,351 62,322 83,627 
579 and below— 343 969 1,571 1,770 8,381 38,482 51,516 
Total home equity15,938 37,442 28,342 49,434 50,220 190,122 969,884 1,341,382 
Current period gross write-offs— — — — — 7 12 19 
Other consumer:
Risk rating:
800+6,066 7,708 3,046 196 51 1,816 19,441 38,324 
740-79933,939 65,004 29,769 274 103 70 5,163 134,322 
670-73951,174 103,982 46,151 204 128 228 14,269 216,136 
580-669759 2,029 1,489 72 41 48 986 5,424 
579 and below1 28 10 50 36 6 465 596 
Total other consumer91,939 178,751 80,465 796 359 2,168 40,324 394,802 
Current period gross write-offs1,855 2,284 3,653 11 5 4 132 7,944 
Total consumer portfolio624,347 1,626,854 1,044,233 573,985 1,755,072 4,701,930 1,010,208 11,336,629 
Current period gross write-offs$1,855 $2,284 $3,653 $11 $107 $41 $144 $8,095 
December 31, 2025
(In thousands)20252024202320222021PriorRevolving Loans Amortized Cost BasisTotal
Residential:
Risk rating:
800+$517,482 $551,613 $272,249 $918,256 $1,045,573 $1,258,654 $— $4,563,827 
740-799687,120 419,019 212,246 480,885 598,172 748,825 — 3,146,267 
670-739185,620 118,104 84,332 294,954 241,266 604,881 — 1,529,157 
580-66916,852 19,346 23,602 51,886 45,714 100,593 — 257,993 
579 and below648 2,377 3,952 21,911 21,966 51,479 — 102,333 
Total residential1,407,722 1,110,459 596,381 1,767,892 1,952,691 2,764,432 — 9,599,577 
Current period gross write-offs— — — — — 135 — 135 
Home equity:
Risk rating:
800+11,847 8,896 23,146 22,811 29,498 65,401 348,961 510,560 
740-79915,932 11,658 16,149 16,523 19,123 35,861 317,846 433,092 
670-73910,811 9,786 10,120 9,351 11,025 27,662 217,924 296,679 
580-6691,682 1,522 2,850 2,731 2,941 9,607 68,953 90,286 
579 and below77 499 1,662 2,287 908 4,543 29,920 39,896 
Total home equity40,349 32,361 53,927 53,703 63,495 143,074 983,604 1,370,513 
Current period gross write-offs— 50 — 1 — 38 175 264 
Other consumer:
Risk rating:
800+11,131 4,799 254 74 1,677 171 16,597 34,703 
740-79988,171 46,222 368 145 30 136 3,273 138,345 
670-739133,564 68,381 282 231 130 133 14,439 217,160 
580-6692,651 1,962 74 60 27 59 1,136 5,969 
579 and below34 36 65 53 19 2 438 647 
Total other consumer235,551 121,400 1,043 563 1,883 501 35,883 396,824 
Current period gross write-offs3,325 3,591 19 10 7 7 168 7,127 
Total consumer portfolio1,683,622 1,264,220 651,351 1,822,158 2,018,069 2,908,007 1,019,487 11,366,914 
Current period gross write-offs$3,325 $3,641 $19 $11 $7 $180 $343 $7,526 
Collateral Dependent Loans and Leases
A non-accrual loan or lease is considered collateral dependent when the borrower is experiencing financial difficulty and when repayment is substantially expected to be provided through the operation or sale of collateral. Commercial non-mortgage loans,
asset-based loans, and equipment financing loans and leases are generally secured by machinery and equipment, inventory, receivables, or other non-real estate assets, whereas commercial real estate, multi-family, residential, and home equity loans are secured by real estate.
The carrying amount of collateral dependent loans was $223.2 million at June 30, 2026, and $308.3 million at December 31, 2025, for commercial loans and leases, and $27.4 million at June 30, 2026, and $28.1 million at December 31, 2025, for consumer loans. The ACL for collateral dependent loans and leases is individually assessed based on the fair value of the collateral less costs to sell at the reporting date. The aggregate collateral value associated with collateral dependent loans and leases was $255.1 million at June 30, 2026, and $364.3 million at December 31, 2025.
Modifications to Borrowers Experiencing Financial Difficulty
In certain circumstances, the Company enters into agreements to modify the terms of loans to borrowers experiencing financial difficulty. A variety of solutions are offered to borrowers experiencing financial difficulty, including loan modifications that may result in principal forgiveness, interest rate reductions, payment delays, term extensions, or a combination thereof. The following is a description of each of these types of modifications:
•Principal forgiveness – The outstanding principal balance of a loan may be reduced by a specified amount. Principal forgiveness may occur voluntarily as part of a negotiated agreement with a borrower, or involuntarily through a bankruptcy proceeding.
•Interest rate reductions – Includes modifications where the contractual interest rate of the loan has been reduced.
•Payment delays – Deferral arrangements that allow borrowers to delay a scheduled loan payment to a later date. Deferred loan payments do not affect the original contractual maturity terms of the loan. Modifications that result in only an insignificant payment delay are not disclosed. The Company generally considers a payment delay of three months or less to be insignificant.
•Term extensions – Extensions of the original contractual maturity date of the loan.
•Combination – Combination includes loans that have undergone more than one of the above loan modification types.
Significant judgment is required to determine if a borrower is experiencing financial difficulty. These considerations vary by portfolio class. The Company has identified modifications to borrowers experiencing financial difficulty that are included in its disclosures as follows:
•Commercial: The Company evaluates modifications of loans to commercial borrowers that are rated substandard or worse, and includes the modifications in its disclosures to the extent that the modification is considered
other-than-insignificant.
•Consumer: The Company generally evaluates all modifications of loans to consumer borrowers subject to its loss mitigation program and includes them in its disclosures to the extent that the modification is considered other-than-insignificant.
The following tables summarize the amortized cost at June 30, 2026, and at June 30, 2025, of loans modified to borrowers experiencing financial difficulty, disaggregated by class and type of concession granted:
Three months ended June 30, 2026
(Dollars in thousands)Interest Rate ReductionTerm ExtensionPayment DelayCombination - Term Extension & Interest Rate ReductionTotal
% of Total
Class (2)
Commercial non-mortgage$—$186,851$817$620$188,2880.9  %
Asset-based—10,345——10,3451.0 
Commercial real estate—92,192——92,1920.6 
Multi-family—8,456——8,4560.1 
Equipment financing—2,959——2,9590.2 
Residential215643——858— 
Home equity—19—105124— 
Total (1)
$215$301,465$817$725$303,2220.5  %
Six months ended June 30, 2026
(Dollars in thousands)Interest Rate ReductionTerm ExtensionPayment DelayCombination - Term Extension & Interest Rate ReductionTotal
% of Total Class (2)
Commercial non-mortgage$—$237,284$2,793$620$240,6971.1  %
Asset-based—50,3256,000—56,3255.4 
Commercial real estate—110,47013,215—123,6850.8 
Multi-family—21,937——21,9370.3 
Equipment financing—2,959——2,9590.2 
Residential215949—581,222— 
Home equity—19—105124— 
Total (1)
$215$423,943$22,008$783$446,9490.8  %
Three months ended June 30, 2025
Combination
(Dollars in thousands)Interest Rate ReductionTerm ExtensionPayment DelayTerm Extension & Interest Rate ReductionTerm Extension & Payment DelayInterest Rate Reduction & Payment DelayTerm Extension, Interest Rate Reduction, & Payment DelayTotal
% of Total Class (2)
Commercial non-mortgage$—$43,425$13,161$399$51,313$—$77$108,3750.6  %
Asset-based—11,487—————11,4870.9 
Commercial real estate—18,978—————18,9780.1 
Multi-family1,9816,340———13,241—21,5620.3 
Equipment financing—3,842—————3,8420.3 
Home equity———26———26— 
Total (1)
$1,981$84,072$13,161$425$51,313$13,241$77$164,2700.3  %
Six months ended June 30, 2025
Combination
(Dollars in thousands)Interest Rate ReductionTerm ExtensionPayment DelayTerm Extension & Interest Rate ReductionTerm Extension and Payment Delay Interest Rate Reduction & Payment DelayTerm Extension, Interest Rate Reduction, & Payment DelayTotal
% of Total Class (2)
Commercial non-mortgage$—$84,290$13,161$506$51,313$—$77$149,3470.8  %
Asset-based—11,487—————11,4870.9 
Commercial real estate—39,607512————40,1190.3 
Multi-family1,9818,034———13,241—23,2560.3 
Equipment financing—4,032—————4,0320.3 
Residential———891———891— 
Home equity———66———66— 
Total (1)
$1,981$147,450$13,673$1,463$51,313$13,241$77$229,1980.4  %
(1)The total amortized cost excludes accrued interest receivable of $3.2 million and $0.5 million for the three months ended June 30, 2026, and 2025, respectively, and $3.4 million and $0.6 million for the six months ended June 30, 2026, and 2025, respectively.
(2)Represents the total amortized cost of the loans modified as a percentage of the total period end loan balance by class.
The following tables describe the financial effect of the modifications made to borrowers experiencing financial difficulty:
Three months ended June 30, 2026
Financial Effect (1)
Term Extension:
Commercial non-mortgage
Extended term by a weighted average of 1.0 year
Asset-based
Extended term by a weighted average of 1.0 year
Commercial real estate
Extended term by a weighted average of 1.2 years
Multi-family
Extended term by a weighted average of 0.5 years
Equipment financing
Extended term by a weighted average of 0.3 years
Payment Delay:
Commercial non-mortgage
Provided payment deferrals for a weighted average of 0.3 years
Six months ended June 30, 2026
Financial Effect (1)
Term Extension:
Commercial non-mortgage
Extended term by a weighted average of 1.2 years
Asset-based
Extended term by a weighted average of 0.7 years
Commercial real estate
Extended term by a weighted average of 1.3 years
Multi-family
Extended term by a weighted average of 1.3 years
Equipment financing
Extended term by a weighted average of 0.3 years
Payment Delay:
Commercial non-mortgage
Provided payment deferrals for a weighted average of 0.4 years
Asset-based
Provided payment deferrals for a weighted average of 0.5 years
Commercial real estate
Provided payment deferrals for a weighted average of 1.7 years
Three months ended June 30, 2025
Financial Effect (1)
Interest Rate Reduction:
Multi-family
Reduced weighted average interest rate by 2.0%
Term Extension:
Commercial non-mortgage
Extended term by a weighted average of 1.4 years
Asset-based
Extended term by a weighted average of 1.0 year
Commercial real estate
Extended term by a weighted average of 0.4 years
Multi-family
Extended term by a weighted average of 3.0 years
Equipment financing
Extended term by a weighted average of 1.8 years
Payment Delay:
Commercial non-mortgage
Provided payment deferrals for a weighted average of 2.4 years
Combination - Term Extension and Payment Delay:
Commercial non-mortgage
Extended term by a weighted average of 0.3 years and provided partial payment deferrals for a weighted average of 0.5 years
Combination - Interest Rate Reduction & Payment Delay:
Multi-family
Reduced weighted average interest rate by 2.0% and provided payment deferrals for a weighted average of 0.8 years
Six months ended June 30, 2025
Financial Effect (1)
Interest Rate Reduction:
Multi-family
Reduced weighted average interest rate by 2.0%
Term Extension:
Commercial non-mortgage
Extended term by a weighted average of 1.3 years
Asset-based
Extended term by a weighted average of 1.0 year
Commercial real estate
Extended term by a weighted average of 0.7 years
Multi-family
Extended term by a weighted average of 2.5 years
Equipment financing
Extended term by a weighted average of 1.8 years
Payment Delay:
Commercial non-mortgage
Provided payment deferrals for a weighted average of 2.4 years
Combination - Term Extension and Interest Rate Reduction:
Commercial non-mortgage
Extended term by a weighted average of 0.3 years and provided payment deferrals for a weighted average of 0.5 years
Combination - Interest Rate Reduction & Payment Delay:
Multi-family
Reduced weighted average interest rate by 2.0% and provided payment deferrals for a weighted average of 0.8 years
(1)Certain disclosures related to the financial effects of modifications do not include those deemed to be immaterial.
The Company closely monitors the performance of the loans that are modified with borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following tables summarize the aging of loans that had been modified in the 12 months preceding June 30, 2026, and June 30, 2025:
June 30, 2026
(In thousands)Current30-59 Days
Past Due		60-89 Days
Past Due		90 or More
Days Past Due		Non-AccrualTotal
Commercial non-mortgage$225,071$493$—$—$58,984$284,548
Asset-based50,325———17,32067,645
Commercial real estate133,92218,433——44,993197,348
Multi-family52,144————52,144
Equipment financing3,027———1,9454,972
Residential1,588———1,5283,116
Home equity748———131879
Total$466,825$18,926$—$—$124,901$610,652
June 30, 2025
(In thousands)Current30-59 Days
Past Due		60-89 Days
Past Due		90 or More
Days Past Due		Non-AccrualTotal
Commercial non-mortgage$77,346$3,819$—$—$144,026$225,191
Asset-based11,487———15,00026,487
Commercial real estate85,027———7,77192,798
Multi-family21,275———1,98123,256
Equipment financing4,032—99——4,131
Residential776———9981,774
Home equity583———215798
Total$200,526$3,819$99$—$169,991$374,435
Loans that had been modified with borrowers experiencing financial difficulty in the 12 months preceding June 30, 2026, and that had a subsequent payment default during the three and six months ended June 30, 2026, were not significant. There were $15.0 million of asset-based loans that had been modified in the form of term extensions with borrowers experiencing financial difficulty in the 12 months preceding June 30, 2025, that had a payment default during the three and six months ended June 30, 2025.
For the purpose of this disclosure, a payment default is defined as 90 or more days past due. Non-accrual loans that are modified to borrowers experiencing financial difficulty remain on non-accrual status until the borrower has demonstrated performance under the modified terms. Commitments to lend additional funds to borrowers experiencing financial difficulty whose loans had been modified were not significant.