Maryland | 27-0950358 | |||||||||||||||||||
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |||||||||||||||||||
3 Easton Oval | Suite 500 | Columbus | Ohio | 43219 | ||||||||||||||||
(Address of | (Zip Code) |
Title of each class | Trading symbol(s) | Name of each exchange on which registered | ||||||||||||
Common Stock, 0.01 Par Value | NWBI | NASDAQ Stock Market, LLC |
PART I | FINANCIAL INFORMATION | |||||||||||||
September 30, 2017 | December 31, 2016 | |||||
Assets | ||||||
Cash and due from banks | $ | 104,372 | 119,403 | |||
Interest-earning deposits in other financial institutions | 60,662 | 266,902 | ||||
Federal funds sold and other short-term investments | 642 | 3,562 | ||||
Marketable securities available-for-sale (amortized cost of $867,311 and $825,552) | 869,481 | 826,200 | ||||
Marketable securities held-to-maturity (fair value of $32,282 and $20,426) | 31,961 | 19,978 | ||||
Total cash and investments | 1,067,118 | 1,236,045 | ||||
Personal Banking loans: | ||||||
Residential mortgage loans held-for-sale | 1,382 | 9,625 | ||||
Residential mortgage loans | 2,741,844 | 2,688,541 | ||||
Home equity loans | 1,313,435 | 1,345,370 | ||||
Consumer loans | 673,920 | 642,961 | ||||
Total Personal Banking loans | 4,730,581 | 4,686,497 | ||||
Commercial Banking loans: | ||||||
Commercial real estate loans | 2,398,886 | 2,342,089 | ||||
Commercial loans | 596,671 | 528,761 | ||||
Total Commercial Banking loans | 2,995,557 | 2,870,850 | ||||
Total loans | 7,726,138 | 7,557,347 | ||||
Allowance for loan losses | (56,927 | ) | (60,939 | ) | ||
Total loans, net | 7,669,211 | 7,496,408 | ||||
Assets held-for-sale | — | 152,528 | ||||
Federal Home Loan Bank stock, at cost | 7,984 | 7,390 | ||||
Accrued interest receivable | 22,802 | 21,699 | ||||
Real estate owned, net | 5,462 | 4,889 | ||||
Premises and equipment, net | 152,761 | 161,185 | ||||
Bank owned life insurance | 173,096 | 171,449 | ||||
Goodwill | 307,420 | 307,420 | ||||
Other intangible assets | 27,244 | 32,433 | ||||
Other assets | 26,716 | 32,194 | ||||
Total assets | $ | 9,459,814 | 9,623,640 | |||
Liabilities and Shareholders’ Equity | ||||||
Liabilities: | ||||||
Noninterest-bearing checking deposits | $ | 1,625,189 | 1,448,972 | |||
Interest-bearing checking deposits | 1,451,818 | 1,428,317 | ||||
Money market deposit accounts | 1,759,395 | 1,841,567 | ||||
Savings deposits | 1,669,782 | 1,622,879 | ||||
Time deposits | 1,435,861 | 1,540,586 | ||||
Total deposits | 7,942,045 | 7,882,321 | ||||
Liabilities held-for-sale | — | 215,657 | ||||
Borrowed funds | 115,388 | 142,899 | ||||
Junior subordinated deferrable interest debentures held by trusts that issued guaranteed capital debt securities | 111,213 | 111,213 | ||||
Advances by borrowers for taxes and insurance | 21,864 | 36,879 | ||||
Accrued interest payable | 518 | 635 | ||||
Other liabilities | 62,939 | 63,373 | ||||
Total liabilities | 8,253,967 | 8,452,977 | ||||
Shareholders’ equity: | ||||||
Preferred stock, $0.01 par value: 50,000,000 authorized, no shares issued | — | — | ||||
Common stock, $0.01 par value: 500,000,000 shares authorized, 102,565,667 and 101,699,406 shares issued, respectively | 1,026 | 1,017 | ||||
Paid-in capital | 728,163 | 718,834 | ||||
Retained earnings | 502,265 | 478,803 | ||||
Accumulated other comprehensive loss | (25,607 | ) | (27,991 | ) | ||
Total shareholders’ equity | 1,205,847 | 1,170,663 | ||||
Total liabilities and shareholders’ equity | $ | 9,459,814 | 9,623,640 |
June 30, 2022 | December 31, 2021 | ||||||||||
Assets | |||||||||||
Cash and cash equivalents | $ | 504,532 | 1,279,259 | ||||||||
Marketable securities available-for-sale (amortized cost of $1,516,743 and $1,565,002, respectively) | 1,364,743 | 1,548,592 | |||||||||
Marketable securities held-to-maturity (fair value of $835,565 and $751,513, respectively) | 923,180 | 768,154 | |||||||||
Total cash and cash equivalents and marketable securities | 2,792,455 | 3,596,005 | |||||||||
Loans held-for-sale | 31,153 | 25,056 | |||||||||
Loans held for investment | 10,401,671 | 9,991,336 | |||||||||
Allowance for credit losses | (98,355) | (102,241) | |||||||||
Loans receivable, net | 10,334,469 | 9,914,151 | |||||||||
FHLB stock, at cost | 13,362 | 14,184 | |||||||||
Accrued interest receivable | 27,708 | 25,599 | |||||||||
Real estate owned, net | 1,205 | 873 | |||||||||
Premises and equipment, net | 146,869 | 156,524 | |||||||||
Bank-owned life insurance | 254,109 | 256,213 | |||||||||
Goodwill | 380,997 | 380,997 | |||||||||
Other intangible assets, net | 10,538 | 12,836 | |||||||||
Other assets | 192,983 | 144,126 | |||||||||
Total assets | $ | 14,154,695 | 14,501,508 | ||||||||
Liabilities and shareholders’ equity | |||||||||||
Liabilities: | |||||||||||
Noninterest-bearing demand deposits | $ | 3,058,249 | 3,099,526 | ||||||||
Interest-bearing demand deposits | 2,858,691 | 2,940,442 | |||||||||
Money market deposit accounts | 2,631,712 | 2,629,882 | |||||||||
Savings deposits | 2,362,725 | 2,303,760 | |||||||||
Time deposits | 1,155,878 | 1,327,555 | |||||||||
Total deposits | 12,067,255 | 12,301,165 | |||||||||
Borrowed funds | 130,490 | 139,093 | |||||||||
Subordinated debt | 113,666 | 123,575 | |||||||||
Junior subordinated debentures | 129,184 | 129,054 | |||||||||
Advances by borrowers for taxes and insurance | 55,622 | 44,582 | |||||||||
Accrued interest payable | 1,725 | 1,804 | |||||||||
Other liabilities | 162,214 | 178,664 | |||||||||
Total liabilities | 12,660,156 | 12,917,937 | |||||||||
Shareholders’ equity: | |||||||||||
Preferred stock, $0.01 par value: 50,000,000 authorized, no shares issued | — | — | |||||||||
Common stock, $0.01 par value: 500,000,000 shares authorized, 126,881,766 and 126,612,183 shares issued and outstanding, respectively | 1,269 | 1,266 | |||||||||
Additional paid-in capital | 1,015,349 | 1,010,405 | |||||||||
Retained earnings | 620,551 | 609,529 | |||||||||
Accumulated other comprehensive loss | (142,630) | (37,629) | |||||||||
Total shareholders’ equity | 1,494,539 | 1,583,571 | |||||||||
Total liabilities and shareholders’ equity | $ | 14,154,695 | 14,501,508 |
Quarter ended September 30, | Nine months ended September 30, | Quarter ended June 30, | Six months ended June 30, | ||||||||||||||||||||||||||||||||
2017 | 2016 | 2017 | 2016 | 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||||||||||
Interest income: | Interest income: | ||||||||||||||||||||||||||||||||||
Loans receivable | $ | 85,373 | 81,083 | 252,838 | 243,370 | Loans receivable | $ | 95,574 | 95,255 | 183,748 | 197,573 | ||||||||||||||||||||||||
Mortgage-backed securities | 3,118 | 2,030 | 8,327 | 6,374 | Mortgage-backed securities | 7,158 | 5,680 | 13,518 | 9,880 | ||||||||||||||||||||||||||
Taxable investment securities | 957 | 627 | 2,944 | 2,421 | Taxable investment securities | 715 | 693 | 1,392 | 1,327 | ||||||||||||||||||||||||||
Tax-free investment securities | 476 | 676 | 1,574 | 2,107 | Tax-free investment securities | 683 | 594 | 1,357 | 1,169 | ||||||||||||||||||||||||||
FHLB dividends | 63 | 218 | 172 | 1,086 | |||||||||||||||||||||||||||||||
FHLB stock dividends | FHLB stock dividends | 82 | 138 | 163 | 254 | ||||||||||||||||||||||||||||||
Interest-earning deposits | 244 | 114 | 1,440 | 243 | Interest-earning deposits | 1,684 | 192 | 2,151 | 375 | ||||||||||||||||||||||||||
Total interest income | 90,231 | 84,748 | 267,295 | 255,601 | Total interest income | 105,896 | 102,552 | 202,329 | 210,578 | ||||||||||||||||||||||||||
Interest expense: | Interest expense: | ||||||||||||||||||||||||||||||||||
Deposits | 5,795 | 5,653 | 17,086 | 17,606 | Deposits | 3,341 | 4,773 | 7,092 | 10,287 | ||||||||||||||||||||||||||
Borrowed funds | 1,199 | 1,801 | 3,664 | 13,602 | Borrowed funds | 2,290 | 2,050 | 4,349 | 4,104 | ||||||||||||||||||||||||||
Total interest expense | 6,994 | 7,454 | 20,750 | 31,208 | Total interest expense | 5,631 | 6,823 | 11,441 | 14,391 | ||||||||||||||||||||||||||
Net interest income | 83,237 | 77,294 | 246,545 | 224,393 | Net interest income | 100,265 | 95,729 | 190,888 | 196,187 | ||||||||||||||||||||||||||
Provision for loan losses | 3,027 | 5,538 | 13,226 | 11,397 | |||||||||||||||||||||||||||||||
Net interest income after provision for loan losses | 80,210 | 71,756 | 233,319 | 212,996 | |||||||||||||||||||||||||||||||
Provision for credit losses | Provision for credit losses | 2,629 | — | 1,148 | (5,620) | ||||||||||||||||||||||||||||||
Net interest income after provision for credit losses | Net interest income after provision for credit losses | 97,636 | 95,729 | 189,740 | 201,807 | ||||||||||||||||||||||||||||||
Noninterest income: | Noninterest income: | ||||||||||||||||||||||||||||||||||
Gain on sale of investments | 1,497 | 58 | 1,517 | 412 | |||||||||||||||||||||||||||||||
Loss on sale of investments | Loss on sale of investments | (3) | (105) | (5) | (126) | ||||||||||||||||||||||||||||||
Service charges and fees | 12,724 | 11,012 | 37,190 | 31,707 | Service charges and fees | 13,673 | 12,744 | 26,740 | 25,138 | ||||||||||||||||||||||||||
Trust and other financial services income | 4,793 | 3,434 | 13,697 | 9,972 | Trust and other financial services income | 7,461 | 7,435 | 14,473 | 13,919 | ||||||||||||||||||||||||||
Insurance commission income | 1,992 | 2,541 | 7,139 | 8,023 | Insurance commission income | — | 1,043 | — | 3,589 | ||||||||||||||||||||||||||
Gain/ (loss) on real estate owned, net | (193 | ) | (563 | ) | (490 | ) | (203 | ) | |||||||||||||||||||||||||||
Income from bank owned life insurance | 1,078 | 1,380 | 3,798 | 4,080 | |||||||||||||||||||||||||||||||
Gain on real estate owned, net | Gain on real estate owned, net | 291 | 166 | 262 | 124 | ||||||||||||||||||||||||||||||
Income from bank-owned life insurance | Income from bank-owned life insurance | 2,008 | 1,639 | 3,991 | 3,375 | ||||||||||||||||||||||||||||||
Mortgage banking income | 519 | 1,886 | 1,193 | 2,550 | Mortgage banking income | 2,157 | 3,811 | 3,622 | 9,831 | ||||||||||||||||||||||||||
Gain on sale of offices | — | — | 17,186 | — | |||||||||||||||||||||||||||||||
Gain on sale of insurance business | Gain on sale of insurance business | — | 25,327 | — | 25,327 | ||||||||||||||||||||||||||||||
Other operating income | 2,184 | 1,070 | 6,345 | 4,000 | Other operating income | 4,861 | 2,648 | 7,105 | 5,484 | ||||||||||||||||||||||||||
Total noninterest income | 24,594 | 20,818 | 87,575 | 60,541 | Total noninterest income | 30,448 | 54,708 | 56,188 | 86,661 | ||||||||||||||||||||||||||
Noninterest expense: | Noninterest expense: | ||||||||||||||||||||||||||||||||||
Compensation and employee benefits | 36,039 | 38,122 | 111,452 | 104,365 | Compensation and employee benefits | 48,073 | 48,894 | 94,990 | 96,133 | ||||||||||||||||||||||||||
Premises and occupancy costs | 6,951 | 6,094 | 21,570 | 18,906 | Premises and occupancy costs | 7,280 | 7,410 | 15,077 | 16,224 | ||||||||||||||||||||||||||
Office operations | 3,939 | 3,700 | 12,331 | 10,503 | Office operations | 3,162 | 3,317 | 6,545 | 6,482 | ||||||||||||||||||||||||||
Collections expense | 568 | 589 | 1,670 | 1,994 | Collections expense | 403 | 303 | 923 | 919 | ||||||||||||||||||||||||||
Processing expenses | 9,650 | 8,844 | 29,198 | 25,430 | Processing expenses | 12,947 | 15,151 | 25,495 | 28,607 | ||||||||||||||||||||||||||
Marketing expenses | 2,488 | 2,239 | 7,482 | 6,671 | Marketing expenses | 2,047 | 2,101 | 4,175 | 4,081 | ||||||||||||||||||||||||||
Federal deposit insurance premiums | 771 | 984 | 2,794 | 3,929 | Federal deposit insurance premiums | 1,130 | 1,353 | 2,259 | 2,660 | ||||||||||||||||||||||||||
Professional services | 2,321 | 1,815 | 7,348 | 5,777 | Professional services | 3,333 | 4,231 | 5,906 | 8,813 | ||||||||||||||||||||||||||
Amortization of intangible assets | 1,691 | 1,068 | 5,189 | 2,453 | Amortization of intangible assets | 1,115 | 1,433 | 2,298 | 3,027 | ||||||||||||||||||||||||||
Real estate owned expense | 310 | 206 | 809 | 812 | Real estate owned expense | 72 | 85 | 109 | 160 | ||||||||||||||||||||||||||
Restructuring/ acquisition expense | 1,398 | 7,183 | 4,255 | 11,204 | |||||||||||||||||||||||||||||||
FHLB prepayment penalty | — | — | — | 36,978 | |||||||||||||||||||||||||||||||
Merger, asset disposition and restructuring expense | Merger, asset disposition and restructuring expense | — | 632 | 1,374 | 641 | ||||||||||||||||||||||||||||||
Other expenses | 2,673 | 2,836 | 9,609 | 10,055 | Other expenses | 5,245 | 1,422 | 7,600 | 4,776 | ||||||||||||||||||||||||||
Total noninterest expense | 68,799 | 73,680 | 213,707 | 239,077 | Total noninterest expense | 84,807 | 86,332 | 166,751 | 172,523 | ||||||||||||||||||||||||||
Income before income taxes | 36,005 | 18,894 | 107,187 | 34,460 | Income before income taxes | 43,277 | 64,105 | 79,177 | 115,945 | ||||||||||||||||||||||||||
Federal and state income taxes expense | 12,414 | 4,697 | 34,868 | 9,287 | Federal and state income taxes expense | 9,851 | 15,138 | 17,464 | 26,741 | ||||||||||||||||||||||||||
Net income | $ | 23,591 | 14,197 | 72,319 | 25,173 | Net income | $ | 33,426 | 48,967 | 61,713 | 89,204 | ||||||||||||||||||||||||
Basic earnings per share | $ | 0.23 | 0.14 | 0.72 | 0.25 | Basic earnings per share | $ | 0.26 | 0.38 | 0.49 | 0.70 | ||||||||||||||||||||||||
Diluted earnings per share | $ | 0.23 | 0.14 | 0.71 | 0.25 | Diluted earnings per share | $ | 0.26 | 0.38 | 0.49 | 0.70 |
Quarter ended September 30, | Nine months ended September 30, | |||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||
Net income | $ | 23,591 | 14,197 | 72,319 | 25,173 | |||||||
Other comprehensive income net of tax: | ||||||||||||
Net unrealized holding gains/ (losses) on marketable securities: | ||||||||||||
Unrealized holding gains/ (losses) net of tax of $164, $503, $(995), and $(2,377), respectively | (264 | ) | (785 | ) | 1,684 | 3,717 | ||||||
Reclassification adjustment for (gains)/ losses included in net income, net of tax of $369, $23, $416, and $(1), respectively | (674 | ) | (36 | ) | (741 | ) | 3 | |||||
Net unrealized holding gains/ (losses) on marketable securities | (938 | ) | (821 | ) | 943 | 3,720 | ||||||
Change in fair value of interest rate swaps, net of tax of $(138), $(253), $(419), and $(267), respectively | 258 | 471 | 779 | 497 | ||||||||
Defined benefit plan: | ||||||||||||
Reclassification adjustment for prior period service costs included in net income, net of tax of $(153), $(144), $(460), and $(432), respectively | 221 | 224 | 662 | 675 | ||||||||
Other comprehensive income/(loss) | (459 | ) | (126 | ) | 2,384 | 4,892 | ||||||
Total comprehensive income | $ | 23,132 | 14,071 | 74,703 | 30,065 |
Quarter ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
Net income | $ | 33,426 | 48,967 | 61,713 | 89,204 | ||||||||||||||||||
Other comprehensive income net of tax: | |||||||||||||||||||||||
Net unrealized holding gains/(losses) on marketable securities: | |||||||||||||||||||||||
Unrealized holding gains/(losses), net of tax of $11,973, ($1,245), $30,850, and $4,736, respectively | (39,954) | 4,322 | (104,737) | (13,099) | |||||||||||||||||||
Reclassification adjustment for gains included in net income, net of tax of $0, $43, $0, and $65, respectively | (1) | (136) | (2) | (211) | |||||||||||||||||||
Net unrealized holding gains/(losses) on marketable securities | (39,955) | 4,186 | (104,739) | (13,310) | |||||||||||||||||||
Defined benefit plan: | |||||||||||||||||||||||
Actuarial reclassification adjustments for prior period service costs and actuarial (gains)/losses included in net income, net of tax of $51, ($128), $101, and ($258), respectively | (131) | 334 | (262) | 667 | |||||||||||||||||||
Other comprehensive (loss)/income | (40,086) | 4,520 | (105,001) | (12,643) | |||||||||||||||||||
Total comprehensive (loss)/income | $ | (6,660) | 53,487 | (43,288) | 76,561 |
Additional paid-in capital | Retained earnings | Accumulated other comprehensive loss | Total shareholders’ equity | ||||||||||||||||||||||||||||||||||||||
Common stock | |||||||||||||||||||||||||||||||||||||||||
Quarter ended June 30, 2022 | Shares | Amount | |||||||||||||||||||||||||||||||||||||||
Beginning balance at March 31, 2022 | 126,686,373 | $ | 1,267 | 1,012,308 | 612,481 | (102,544) | 1,523,512 | ||||||||||||||||||||||||||||||||||
Comprehensive income: | |||||||||||||||||||||||||||||||||||||||||
Net income | — | — | — | 33,426 | — | 33,426 | |||||||||||||||||||||||||||||||||||
Other comprehensive loss, net of tax of $12,024 | — | — | — | — | (40,086) | (40,086) | |||||||||||||||||||||||||||||||||||
Total comprehensive income/(loss) | — | — | — | 33,426 | (40,086) | (6,660) | |||||||||||||||||||||||||||||||||||
Exercise of stock options | 139,795 | 1 | 1,618 | — | — | 1,619 | |||||||||||||||||||||||||||||||||||
Stock-based compensation expense | 65,155 | 2 | 1,422 | — | — | 1,424 | |||||||||||||||||||||||||||||||||||
Stock-based compensation forfeited | (9,557) | (1) | 1 | — | — | — | |||||||||||||||||||||||||||||||||||
Dividends paid ($0.20 per share) | — | — | — | (25,356) | — | (25,356) | |||||||||||||||||||||||||||||||||||
Ending balance at June 30, 2022 | 126,881,766 | $ | 1,269 | 1,015,349 | 620,551 | (142,630) | 1,494,539 |
Additional paid-in capital | Retained earnings | Accumulated other comprehensive income/(loss) | Total shareholders’ equity | ||||||||||||||||||||||||||||||||||||||
Common stock | |||||||||||||||||||||||||||||||||||||||||
Quarter ended June 30, 2021 | Shares | Amount | |||||||||||||||||||||||||||||||||||||||
Beginning balance at March 31, 2021 | 127,222,648 | $ | 1,272 | 1,018,822 | 571,612 | (50,712) | 1,540,994 | ||||||||||||||||||||||||||||||||||
Comprehensive income: | |||||||||||||||||||||||||||||||||||||||||
Net income | — | — | — | 48,967 | — | 48,967 | |||||||||||||||||||||||||||||||||||
Other comprehensive income, net of tax of ($1,331) | — | — | — | — | 4,520 | 4,520 | |||||||||||||||||||||||||||||||||||
Total comprehensive income | — | — | — | 48,967 | 4,520 | 53,487 | |||||||||||||||||||||||||||||||||||
Exercise of stock options | 418,916 | 4 | 5,102 | — | — | 5,106 | |||||||||||||||||||||||||||||||||||
Stock-based compensation expense | 320,755 | 3 | 1,715 | — | — | 1,718 | |||||||||||||||||||||||||||||||||||
Share repurchases | (34,460) | — | (465) | — | — | (465) | |||||||||||||||||||||||||||||||||||
Stock-based compensation forfeited | (19,974) | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Dividends paid ($0.20 per share) | — | — | — | (25,479) | — | (25,479) | |||||||||||||||||||||||||||||||||||
Ending balance at June 30, 2021 | 127,907,885 | $ | 1,279 | 1,025,174 | 595,100 | (46,192) | 1,575,361 |
Additional paid-in capital | Retained earnings | Accumulated other comprehensive loss | Total shareholders’ equity | ||||||||||||||||||||||||||||||||||||||
Common stock | |||||||||||||||||||||||||||||||||||||||||
Six months ended June 30, 2022 | Shares | Amount | |||||||||||||||||||||||||||||||||||||||
Beginning balance at December 31, 2021 | 126,612,183 | $ | 1,266 | 1,010,405 | 609,529 | (37,629) | 1,583,571 | ||||||||||||||||||||||||||||||||||
Comprehensive income: | |||||||||||||||||||||||||||||||||||||||||
Net income | — | — | — | 61,713 | — | 61,713 | |||||||||||||||||||||||||||||||||||
Other comprehensive loss, net of tax of $30,951 | — | — | — | — | (105,001) | (105,001) | |||||||||||||||||||||||||||||||||||
Total comprehensive income/(loss) | — | — | — | 61,713 | (105,001) | (43,288) | |||||||||||||||||||||||||||||||||||
Exercise of stock options | 241,408 | 2 | 2,822 | — | — | 2,824 | |||||||||||||||||||||||||||||||||||
Stock-based compensation expense | 75,377 | 2 | 2,121 | — | — | 2,123 | |||||||||||||||||||||||||||||||||||
Stock-based compensation forfeited | (47,202) | (1) | 1 | — | — | — | |||||||||||||||||||||||||||||||||||
Dividends paid ($0.40 per share) | — | — | — | (50,691) | — | (50,691) | |||||||||||||||||||||||||||||||||||
Ending balance at June 30, 2022 | 126,881,766 | $ | 1,269 | 1,015,349 | 620,551 | (142,630) | 1,494,539 |
Accumulated Other | Unallocated | Total | |||||||||||||||||||
Common Stock | Paid-in | Retained | Comprehensive | common stock | Shareholders’ | ||||||||||||||||
Shares | Amount | Capital | Earnings | Income/ (Loss) | of ESOP | Equity | |||||||||||||||
Balance at June 30, 2016 | 102,472,947 | $ | 1,025 | 722,980 | 470,337 | (19,517 | ) | (19,370 | ) | 1,155,455 | |||||||||||
Comprehensive income: | |||||||||||||||||||||
Net income | — | — | — | 14,197 | — | — | 14,197 | ||||||||||||||
Other comprehensive loss, net of tax of $129 | — | — | — | — | (126 | ) | — | (126 | ) | ||||||||||||
Total comprehensive income/(loss) | — | — | — | 14,197 | (126 | ) | — | 14,071 | |||||||||||||
ESOP loan payoff | (1,366,574 | ) | (14 | ) | (13,896 | ) | — | — | 13,910 | — | |||||||||||
Exercise of stock options | 162,275 | 2 | 1,821 | — | — | — | 1,823 | ||||||||||||||
Stock-based compensation expense, including tax benefit of $81 | — | — | 1,069 | — | — | 5,460 | 6,529 | ||||||||||||||
Dividends paid ($0.15 per share) | — | — | — | (15,075 | ) | — | — | (15,075 | ) | ||||||||||||
Balance at September 30, 2016 | 101,268,648 | $ | 1,013 | 711,974 | 469,459 | (19,643 | ) | — | 1,162,803 |
Accumulated Other | Total | |||||||||||||||||
Common Stock | Paid-in | Retained | Comprehensive | Shareholders’ | ||||||||||||||
Shares | Amount | Capital | Earnings | Income/ (Loss) | Equity | |||||||||||||
Balance at June 30, 2017 | 102,478,146 | $ | 1,025 | 726,036 | 495,017 | (25,148 | ) | 1,196,930 | ||||||||||
Comprehensive income: | ||||||||||||||||||
Net income | — | — | — | 23,591 | — | 23,591 | ||||||||||||
Other comprehensive loss, net of tax of $242 | — | — | — | — | (459 | ) | (459 | ) | ||||||||||
Total comprehensive income/ (loss) | — | — | — | 23,591 | (459 | ) | 23,132 | |||||||||||
Exercise of stock options | 87,521 | 1 | 1,033 | — | — | 1,034 | ||||||||||||
Stock-based compensation expense | — | — | 1,094 | — | — | 1,094 | ||||||||||||
Dividends paid ($0.16 per share) | — | — | — | (16,343 | ) | — | (16,343 | ) | ||||||||||
Balance at September 30, 2017 | 102,565,667 | $ | 1,026 | 728,163 | 502,265 | (25,607 | ) | 1,205,847 |
Additional paid-in capital | Retained earnings | Accumulated other comprehensive loss | Total shareholders’ equity | ||||||||||||||||||||||||||||||||||||||
Common stock | |||||||||||||||||||||||||||||||||||||||||
Six months ended June 30, 2021 | Shares | Amount | |||||||||||||||||||||||||||||||||||||||
Beginning balance at December 31, 2020 | 127,019,452 | $ | 1,270 | 1,015,502 | 555,480 | (33,549) | 1,538,703 | ||||||||||||||||||||||||||||||||||
Comprehensive income: | |||||||||||||||||||||||||||||||||||||||||
Net income | — | — | — | 89,204 | — | 89,204 | |||||||||||||||||||||||||||||||||||
Other comprehensive loss, net of tax of $4,543 | — | — | — | — | (12,643) | (12,643) | |||||||||||||||||||||||||||||||||||
Total comprehensive income/(loss) | — | — | — | 89,204 | (12,643) | 76,561 | |||||||||||||||||||||||||||||||||||
Exercise of stock options | 986,345 | 10 | 12,023 | — | — | 12,033 | |||||||||||||||||||||||||||||||||||
Stock-based compensation expense | 322,685 | 3 | 2,676 | — | — | 2,679 | |||||||||||||||||||||||||||||||||||
Stock-based compensation forfeited | (32,585) | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Share repurchases | (388,012) | (4) | (5,027) | — | — | (5,031) | |||||||||||||||||||||||||||||||||||
Dividends paid ($0.39 per share) | — | — | — | (49,584) | — | (49,584) | |||||||||||||||||||||||||||||||||||
Ending balance at June 30, 2021 | 127,907,885 | $ | 1,279 | 1,025,174 | 595,100 | (46,192) | 1,575,361 |
Accumulated Other | Unallocated | Total | |||||||||||||||||||
Common Stock | Paid-in | Retained | Comprehensive | common stock | Shareholders’ | ||||||||||||||||
Shares | Amount | Capital | Earnings | Income/ (Loss) | of ESOP | Equity | |||||||||||||||
Beginning balance at December 31, 2015 | 101,871,737 | $ | 1,019 | 717,603 | 489,292 | (24,535 | ) | (20,216 | ) | 1,163,163 | |||||||||||
Comprehensive income: | |||||||||||||||||||||
Net income | — | — | — | 25,173 | — | — | 25,173 | ||||||||||||||
Other comprehensive income, net of tax of $(3,077) | — | — | — | — | 4,892 | — | 4,892 | ||||||||||||||
Total comprehensive income | — | — | — | 25,173 | 4,892 | — | 30,065 | ||||||||||||||
ESOP loan payoff | (1,366,574 | ) | (14 | ) | (13,896 | ) | — | — | 13,910 | — | |||||||||||
Exercise of stock options | 585,668 | 7 | 6,399 | — | — | — | 6,406 | ||||||||||||||
Stock-based compensation expense, including tax benefit of $287 | 323,717 | 3 | 3,618 | — | — | 6,306 | 9,927 | ||||||||||||||
Share repurchases | (145,900 | ) | (2 | ) | (1,750 | ) | — | — | — | (1,752 | ) | ||||||||||
Dividends paid ($0.45 per share) | — | — | — | (45,006 | ) | — | — | (45,006 | ) | ||||||||||||
Ending balance at September 30, 2016 | 101,268,648 | $ | 1,013 | 711,974 | 469,459 | (19,643 | ) | — | 1,162,803 |
Accumulated Other | Total | |||||||||||||||||
Common Stock | Paid-in | Retained | Comprehensive | Shareholders’ | ||||||||||||||
Shares | Amount | Capital | Earnings | Income/ (Loss) | Equity | |||||||||||||
Beginning balance at December 31, 2016 | 101,699,406 | $ | 1,017 | 718,834 | 478,803 | (27,991 | ) | 1,170,663 | ||||||||||
Comprehensive income: | ||||||||||||||||||
Net income | — | — | — | 72,319 | — | 72,319 | ||||||||||||
Other comprehensive income, net of tax of $(1,458) | — | — | — | — | 2,384 | 2,384 | ||||||||||||
Total comprehensive income | — | — | — | 72,319 | 2,384 | 74,703 | ||||||||||||
Exercise of stock options | 488,211 | 5 | 5,611 | — | — | 5,616 | ||||||||||||
Stock-based compensation expense | 378,050 | 4 | 3,718 | — | — | 3,722 | ||||||||||||
Dividends paid ($0.48 per share) | — | — | — | (48,857 | ) | — | (48,857 | ) | ||||||||||
Ending balance at September 30, 2017 | 102,565,667 | $ | 1,026 | 728,163 | 502,265 | (25,607 | ) | 1,205,847 |
Six months ended June 30, | |||||||||||
2022 | 2021 | ||||||||||
Operating activities: | |||||||||||
Net income | $ | 61,713 | 89,204 | ||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Provision for credit losses | 1,148 | (5,620) | |||||||||
Net gain on sale of assets | (625) | (570) | |||||||||
Mortgage banking activity | (2,660) | (13,818) | |||||||||
Gain on sale of insurance business | — | (25,327) | |||||||||
Net depreciation, amortization and accretion | 2,860 | 3,058 | |||||||||
(Increase)/decrease in other assets | (23,489) | 26,603 | |||||||||
Decrease in other liabilities | (16,891) | (18,261) | |||||||||
Net amortization on marketable securities | 2,783 | 4,040 | |||||||||
Noncash compensation expense related to stock benefit plans | 2,123 | 2,679 | |||||||||
Noncash write-down of real estate owned | 41 | 128 | |||||||||
Deferred income tax expense | 2,256 | 900 | |||||||||
Origination of loans held-for-sale | (225,091) | (420,530) | |||||||||
Proceeds from sale of loans held-for-sale | 222,662 | 462,522 | |||||||||
Net cash provided by operating activities | 26,830 | 105,008 | |||||||||
Investing activities: | |||||||||||
Purchase of marketable securities held-to-maturity | (212,892) | (479,165) | |||||||||
Purchase of marketable securities available-for-sale | (102,178) | (509,499) | |||||||||
Proceeds from maturities and principal reductions of marketable securities held-to-maturity | 57,254 | 18,261 | |||||||||
Proceeds from maturities and principal reductions of marketable securities available-for-sale | 148,260 | 225,823 | |||||||||
Proceeds from sale of marketable securities available-for-sale | — | 61,748 | |||||||||
Proceeds from bank-owned life insurance | 2,553 | 3,984 | |||||||||
Loan originations | (2,158,246) | (2,056,750) | |||||||||
Loan purchases | (304,163) | — | |||||||||
Proceeds from loan maturities and principal reductions | 2,054,203 | 2,292,701 | |||||||||
Net proceeds/(redemptions) of FHLB stock | 822 | (1,539) | |||||||||
Proceeds from sale of real estate owned | 424 | 1,431 | |||||||||
Proceeds from sale of real estate owned for investment | 153 | 153 | |||||||||
Disposals/(purchases) of premises and equipment, net | 1,687 | (1,005) | |||||||||
Proceeds from the sale of insurance business | — | 28,238 | |||||||||
Net cash used in investing activities | (512,123) | (415,619) |
Nine months ended September 30, | ||||||
2017 | 2016 | |||||
OPERATING ACTIVITIES: | ||||||
Net Income | $ | 72,319 | 25,173 | |||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Provision for loan losses | 13,226 | 11,397 | ||||
Net gain on sale of assets | (1,443 | ) | (2,965 | ) | ||
Net gain on sale of offices | (17,186 | ) | — | |||
Net depreciation, amortization and accretion | 10,951 | 9,974 | ||||
Decrease in other assets | 22,518 | 23,588 | ||||
Increase in other liabilities | 1,761 | 9,003 | ||||
Net amortization on marketable securities | 1,535 | 1,533 | ||||
Noncash write-down of real estate owned | 980 | 1,274 | ||||
FHLB prepayment penalty | — | 24,520 | ||||
Deferred income tax benefit | — | (445 | ) | |||
Origination of loans held for sale | (59,401 | ) | (188,474 | ) | ||
Proceeds from sale of loans held for sale | 68,041 | 158,058 | ||||
Noncash compensation expense related to stock benefit plans | 3,722 | 9,640 | ||||
Net cash provided by operating activities | 117,023 | 82,276 | ||||
INVESTING ACTIVITIES: | ||||||
Purchase of marketable securities held-to-maturity | (23,621 | ) | — | |||
Purchase of marketable securities available-for-sale | (210,111 | ) | (238,673 | ) | ||
Proceeds from maturities and principal reductions of marketable securities held-to-maturity | 11,625 | 9,097 | ||||
Proceeds from maturities and principal reductions of marketable securities available-for-sale | 144,846 | 227,283 | ||||
Proceeds from sale of marketable securities available-for-sale | 23,501 | 91 | ||||
Loan originations | (2,050,885 | ) | (1,950,953 | ) | ||
Proceeds from loan maturities and principal reductions | 2,002,816 | 1,849,593 | ||||
Net (purchase)/ sale of Federal Home Loan Bank stock | (594 | ) | 33,243 | |||
Proceeds from sale of real estate owned | 3,687 | 6,557 | ||||
Sale of real estate owned for investment, net | 456 | 456 | ||||
Net purchase of premises and equipment | (1,242 | ) | (12,485 | ) | ||
Acquisitions, net of cash received | — | 1,118,400 | ||||
Net cash provided by/ (used in) investing activities | (99,522 | ) | 1,042,609 |
Nine months ended September 30, | ||||||
2017 | 2016 | |||||
FINANCING ACTIVITIES: | ||||||
Decrease in deposits, net | $ | (155,925 | ) | (52,624 | ) | |
Repayments of long-term borrowings, including prepayment penalty | — | (774,863 | ) | |||
Net increase/ (decrease) in short-term borrowings | (27,511 | ) | (88,773 | ) | ||
Decrease in advances by borrowers for taxes and insurance | (15,015 | ) | (15,402 | ) | ||
Cash dividends paid | (48,857 | ) | (45,006 | ) | ||
Purchase of common stock for retirement | — | (1,752 | ) | |||
Proceeds from stock options exercised | 5,616 | 6,406 | ||||
Excess tax benefit from stock-based compensation | — | 287 | ||||
Net cash used in financing activities | (241,692 | ) | (971,727 | ) | ||
Net increase/ (decrease) in cash and cash equivalents | $ | (224,191 | ) | 153,158 | ||
Cash and cash equivalents at beginning of period | $ | 389,867 | 167,408 | |||
Net increase/ (decrease) in cash and cash equivalents | (224,191 | ) | 153,158 | |||
Cash and cash equivalents at end of period | $ | 165,676 | 320,566 | |||
Cash and cash equivalents: | ||||||
Cash and due from banks | $ | 104,372 | 107,604 | |||
Interest-earning deposits in other financial institutions | 60,662 | 210,723 | ||||
Federal funds sold and other short-term investments | 642 | 2,239 | ||||
Total cash and cash equivalents | $ | 165,676 | 320,566 | |||
Cash paid during the period for: | ||||||
Interest on deposits and borrowings (including interest credited to deposit accounts of $16,644 and $16,556, respectively) | $ | 20,875 | 32,519 | |||
Income taxes | $ | 20,705 | 4,086 | |||
Business acquisitions: | ||||||
Fair value of assets acquired, excluding cash received | $ | — | 545,796 | |||
Cash paid, net | — | 1,118,400 | ||||
Liabilities assumed | $ | — | 1,664,196 | |||
Non-cash activities: | ||||||
Loan foreclosures and repossessions | $ | 4,750 | 2,877 | |||
Sale of real estate owned financed by the Company | $ | 1,810 | 1,773 |
Six months ended June 30, | |||||||||||
2022 | 2021 | ||||||||||
Financing activities: | |||||||||||
Net (decrease)/increase in deposits | $ | (233,910) | 491,475 | ||||||||
Repayments of long-term borrowings | (10,094) | (22,000) | |||||||||
Net decrease in short-term borrowings | (8,603) | (3,785) | |||||||||
Increase in advances by borrowers for taxes and insurance | 11,040 | 8,378 | |||||||||
Cash dividends paid on common stock | (50,691) | (49,584) | |||||||||
Purchase of common stock for retirement | — | (5,031) | |||||||||
Proceeds from stock options exercised | 2,824 | 12,033 | |||||||||
Net cash (used in)/provided by financing activities | (289,434) | 431,486 | |||||||||
Net (decrease)/increase in cash and cash equivalents | $ | (774,727) | 120,875 | ||||||||
Cash and cash equivalents at beginning of period | $ | 1,279,259 | 736,277 | ||||||||
Net (decrease)/increase in cash and cash equivalents | (774,727) | 120,875 | |||||||||
Cash and cash equivalents at end of period | $ | 504,532 | 857,152 | ||||||||
Cash paid during the period for: | |||||||||||
Interest on deposits and borrowings (including interest credited to deposit accounts of $6,943 and $10,295, respectively) | $ | 11,520 | 14,625 | ||||||||
Income taxes | 11,581 | 20,601 | |||||||||
Non-cash activities: | |||||||||||
Loan foreclosures and repossessions | $ | 2,591 | 2,831 | ||||||||
Sale of real estate owned financed by the Company | — | 54 |
Community | Consumer | ||||||||||||
September 30, 2017 | Banking | Finance | All other (1) | Consolidated | |||||||||
External interest income | $ | 89,711 | 475 | 45 | 90,231 | ||||||||
Intersegment interest income/ expense | 138 | — | (138 | ) | — | ||||||||
Interest expense | 5,871 | 138 | 985 | 6,994 | |||||||||
Provision for loan losses | 8,693 | (5,666 | ) | — | 3,027 | ||||||||
Noninterest income | 23,922 | 36 | 636 | 24,594 | |||||||||
Noninterest expense | 67,493 | 1,941 | (635 | ) | 68,799 | ||||||||
Income tax expense | 10,656 | 1,700 | 58 | 12,414 | |||||||||
Net income | $ | 21,058 | 2,398 | 135 | 23,591 | ||||||||
Total assets | $ | 9,404,881 | 44,849 | 10,084 | 9,459,814 |
Community | Consumer | ||||||||||||
September 30, 2016 | Banking | Finance | All other (1) | Consolidated | |||||||||
External interest income | $ | 80,245 | 4,264 | 239 | 84,748 | ||||||||
Intersegment interest income/ expense | 645 | — | (645 | ) | — | ||||||||
Interest expense | 6,338 | 645 | 471 | 7,454 | |||||||||
Provision for loan losses | 4,276 | 1,262 | — | 5,538 | |||||||||
Noninterest income | 20,424 | 372 | 22 | 20,818 | |||||||||
Noninterest expense | 70,580 | 2,908 | 192 | 73,680 | |||||||||
Income tax expense/ (benefit) | 5,147 | (74 | ) | (376 | ) | 4,697 | |||||||
Net income/ (loss) | $ | 14,973 | (105 | ) | (671 | ) | 14,197 | ||||||
Total assets | $ | 9,590,487 | 109,601 | 14,519 | 9,714,607 |
Community | Consumer | ||||||||||||
September 30, 2017 | Banking | Finance | All other (1) | Consolidated | |||||||||
External interest income | $ | 259,160 | 8,008 | 127 | 267,295 | ||||||||
Intersegment interest income | 1,473 | — | (1,473 | ) | — | ||||||||
Interest expense | 17,344 | 1,473 | 1,933 | 20,750 | |||||||||
Provision for loan losses | 15,371 | (2,145 | ) | — | 13,226 | ||||||||
Noninterest income | 85,653 | 357 | 1,565 | 87,575 | |||||||||
Noninterest expense | 203,225 | 9,458 | 1,024 | 213,707 | |||||||||
Income tax expense/ (benefit) | 36,028 | (175 | ) | (985 | ) | 34,868 | |||||||
Net income/ (loss) | $ | 74,318 | (246 | ) | (1,753 | ) | 72,319 | ||||||
Total assets | $ | 9,404,881 | 44,849 | 10,084 | 9,459,814 |
Community | Consumer | ||||||||||||
September 30, 2016 | Banking | Finance | All other (1) | Consolidated | |||||||||
External interest income | $ | 242,081 | 12,831 | 689 | 255,601 | ||||||||
Intersegment interest income | 1,918 | — | (1,918 | ) | — | ||||||||
Interest expense | 27,943 | 1,918 | 1,347 | 31,208 | |||||||||
Provision for loan losses | 8,854 | 2,543 | — | 11,397 | |||||||||
Noninterest income | 59,278 | 1,152 | 111 | 60,541 | |||||||||
Noninterest expense | 229,492 | 8,715 | 870 | 239,077 | |||||||||
Income tax expense/ (benefit) | 10,144 | 335 | (1,192 | ) | 9,287 | ||||||||
Net income/ (loss) | $ | 26,844 | 472 | (2,143 | ) | 25,173 | |||||||
Total assets | $ | 9,590,487 | 109,601 | 14,519 | 9,714,607 |
Amortized cost | Gross unrealized holding gains | Gross unrealized holding losses | Fair value | |||||||||
Debt issued by the U.S. government and agencies: | ||||||||||||
Due in one year or less | $ | 2 | — | — | 2 | |||||||
Debt issued by government sponsored enterprises: | ||||||||||||
Due in one year or less | 96,608 | 36 | (244 | ) | 96,400 | |||||||
Due in one year through five years | 141,476 | 34 | (1,543 | ) | 139,967 | |||||||
Due in five years through ten years | — | — | — | — | ||||||||
Due after ten years | 5,304 | — | (72 | ) | 5,232 | |||||||
Equity securities | 824 | 131 | (6 | ) | 949 | |||||||
Municipal securities: | ||||||||||||
Due in one year or less | 2,312 | 13 | — | 2,325 | ||||||||
Due in one year through five years | 7,472 | 142 | (3 | ) | 7,611 | |||||||
Due in five years through ten years | 12,315 | 165 | — | 12,480 | ||||||||
Due after ten years | 30,226 | 572 | — | 30,798 | ||||||||
Corporate debt issues: | ||||||||||||
Due after ten years | 14,280 | 4,611 | (213 | ) | 18,678 | |||||||
Residential mortgage-backed securities: | ||||||||||||
Fixed rate pass-through | 143,106 | 1,460 | (2,070 | ) | 142,496 | |||||||
Variable rate pass-through | 35,140 | 1,573 | (4 | ) | 36,709 | |||||||
Fixed rate non-agency CMOs | 41 | — | — | 41 | ||||||||
Fixed rate agency CMOs | 300,741 | 263 | (2,855 | ) | 298,149 | |||||||
Variable rate agency CMOs | 77,464 | 274 | (94 | ) | 77,644 | |||||||
Total residential mortgage-backed securities | 556,492 | 3,570 | (5,023 | ) | 555,039 | |||||||
Total marketable securities available-for-sale | $ | 867,311 | 9,274 | (7,104 | ) | 869,481 |
Amortized cost | Gross unrealized holding gains | Gross unrealized holding losses | Fair value | |||||||||
Debt issued by the U.S. government and agencies: | ||||||||||||
Due in one year or less | $ | 6 | — | — | 6 | |||||||
Debt issued by government sponsored enterprises: | ||||||||||||
Due in one year or less | 74,980 | 5 | (33 | ) | 74,952 | |||||||
Due after one year through five years | 220,937 | 203 | (2,504 | ) | 218,636 | |||||||
Due after five years through ten years | 585 | — | (3 | ) | 582 | |||||||
Equity securities | 3,351 | 1,095 | (6 | ) | 4,440 | |||||||
Municipal securities: | ||||||||||||
Due in one year or less | 2,449 | 7 | — | 2,456 | ||||||||
Due after one year through five years | 9,448 | 105 | (21 | ) | 9,532 | |||||||
Due after five years through ten years | 11,794 | 137 | (1 | ) | 11,930 | |||||||
Due after ten years | 38,141 | 1,027 | (16 | ) | 39,152 | |||||||
Corporate debt issues: | ||||||||||||
Due after ten years | 14,367 | 2,935 | (322 | ) | 16,980 | |||||||
Residential mortgage-backed securities: | ||||||||||||
Fixed rate pass-through | 175,398 | 1,849 | (2,680 | ) | 174,567 | |||||||
Variable rate pass-through | 43,587 | 2,007 | (6 | ) | 45,588 | |||||||
Fixed rate non-agency CMOs | 100 | 1 | — | 101 | ||||||||
Fixed rate agency CMOs | 165,535 | 185 | (3,455 | ) | 162,265 | |||||||
Variable rate agency CMOs | 64,874 | 306 | (167 | ) | 65,013 | |||||||
Total residential mortgage-backed securities | 449,494 | 4,348 | (6,308 | ) | 447,534 | |||||||
Total marketable securities available-for-sale | $ | 825,552 | 9,862 | (9,214 | ) | 826,200 |
Amortized cost | Gross unrealized holding gains | Gross unrealized holding losses | Fair value | ||||||||||||||||||||
Debt issued by the U.S government and agencies: | |||||||||||||||||||||||
Due in one year through five years | $ | 20,000 | — | (1,147) | 18,853 | ||||||||||||||||||
Due after ten years | 55,553 | — | (7,674) | 47,879 | |||||||||||||||||||
Debt issued by government-sponsored enterprises: | |||||||||||||||||||||||
Due in one year through five years | 992 | — | (12) | 980 | |||||||||||||||||||
Due in five years through ten years | 46,019 | — | (5,735) | 40,284 | |||||||||||||||||||
Municipal securities: | |||||||||||||||||||||||
Due in less than one year | 723 | 1 | — | 724 | |||||||||||||||||||
Due in one year through five years | 1,174 | 6 | (19) | 1,161 | |||||||||||||||||||
Due in five years through ten years | 32,974 | 25 | (1,640) | 31,359 | |||||||||||||||||||
Due after ten years | 95,283 | 45 | (13,175) | 82,153 | |||||||||||||||||||
Corporate debt issues: | |||||||||||||||||||||||
Due in five years through ten years | 13,564 | 8 | (62) | 13,510 | |||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||
Fixed rate pass-through | 243,193 | 144 | (22,991) | 220,346 | |||||||||||||||||||
Variable rate pass-through | 9,813 | 62 | (60) | 9,815 | |||||||||||||||||||
Fixed rate agency CMOs | 964,937 | 12 | (99,663) | 865,286 | |||||||||||||||||||
Variable rate agency CMOs | 32,518 | 137 | (262) | 32,393 | |||||||||||||||||||
Total residential mortgage-backed securities | 1,250,461 | 355 | (122,976) | 1,127,840 | |||||||||||||||||||
Total marketable securities available-for-sale | $ | 1,516,743 | 440 | (152,440) | 1,364,743 |
Amortized cost | Gross unrealized holding gains | Gross unrealized holding losses | Fair value | ||||||||||||||||||||
Debt issued by the U.S. government and agencies: | |||||||||||||||||||||||
Due in one year through five years | $ | 20,000 | — | (68) | 19,932 | ||||||||||||||||||
Due after ten years | 57,681 | — | (1,722) | 55,959 | |||||||||||||||||||
Debt issued by government-sponsored enterprises: | |||||||||||||||||||||||
Due in less than one year | 177 | — | — | 177 | |||||||||||||||||||
Due in one year through five years | 991 | 73 | — | 1,064 | |||||||||||||||||||
Due in five years through ten years | 46,411 | 1 | (1,568) | 44,844 | |||||||||||||||||||
Municipal securities: | |||||||||||||||||||||||
Due in less than one year | 946 | 13 | — | 959 | |||||||||||||||||||
Due in one year through five years | 1,261 | 22 | (3) | 1,280 | |||||||||||||||||||
Due in five years through ten years | 23,692 | 661 | (146) | 24,207 | |||||||||||||||||||
Due after ten years | 99,558 | 2,884 | (187) | 102,255 | |||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||
Fixed rate pass-through | 265,604 | 2,389 | (2,525) | 265,468 | |||||||||||||||||||
Variable rate pass-through | 11,306 | 294 | (9) | 11,591 | |||||||||||||||||||
Fixed rate agency CMOs | 997,680 | 2,284 | (18,965) | 980,999 | |||||||||||||||||||
Variable rate agency CMOs | 39,695 | 224 | (62) | 39,857 | |||||||||||||||||||
Total residential mortgage-backed securities | 1,314,285 | 5,191 | (21,561) | 1,297,915 | |||||||||||||||||||
Total marketable securities available-for-sale | $ | 1,565,002 | 8,845 | (25,255) | 1,548,592 |
Amortized cost | Gross unrealized holding gains | Gross unrealized holding losses | Fair value | ||||||||||||||||||||
Debt issued by the U.S. government and agencies: | |||||||||||||||||||||||
Due in one year through five years | $ | 16,477 | — | (1,214) | 15,263 | ||||||||||||||||||
Due in five years through ten years | 107,975 | — | (15,547) | 92,428 | |||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||
Fixed rate pass-through | 171,477 | 2 | (18,329) | 153,150 | |||||||||||||||||||
Variable rate pass-through | 611 | 2 | — | 613 | |||||||||||||||||||
Fixed rate agency CMOs | 626,080 | 197 | (52,731) | 573,546 | |||||||||||||||||||
Variable rate agency CMOs | 560 | 5 | — | 565 | |||||||||||||||||||
Total residential mortgage-backed securities | 798,728 | 206 | (71,060) | 727,874 | |||||||||||||||||||
Total marketable securities held-to-maturity | $ | 923,180 | 206 | (87,821) | 835,565 |
Amortized cost | Gross unrealized holding gains | Gross unrealized holding losses | Fair value | |||||||||
Residential mortgage-backed securities: | ||||||||||||
Fixed rate pass-through | $ | 3,971 | 189 | — | 4,160 | |||||||
Variable rate pass-through | 2,412 | 57 | — | 2,469 | ||||||||
Fixed rate agency CMOs | 24,791 | 87 | (25 | ) | 24,853 | |||||||
Variable rate agency CMOs | 787 | 13 | — | 800 | ||||||||
Total residential mortgage-backed securities | 31,961 | 346 | (25 | ) | 32,282 | |||||||
Total marketable securities held-to-maturity | $ | 31,961 | 346 | (25 | ) | 32,282 |
Amortized cost | Gross unrealized holding gains | Gross unrealized holding losses | Fair value | ||||||||||||||||||||
Debt issued by the U.S. government and agencies: | |||||||||||||||||||||||
Due in one through five years | $ | 16,478 | — | (206) | 16,272 | ||||||||||||||||||
Due in five years through ten years | 107,973 | — | (4,613) | 103,360 | |||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||
Fixed rate pass-through | 183,092 | 58 | (2,161) | 180,989 | |||||||||||||||||||
Variable rate pass-through | 667 | 24 | — | 691 | |||||||||||||||||||
Fixed rate agency CMOs | 459,345 | 251 | (10,011) | 449,585 | |||||||||||||||||||
Variable rate agency CMOs | 599 | 17 | — | 616 | |||||||||||||||||||
Total residential mortgage-backed securities | 643,703 | 350 | (12,172) | 631,881 | |||||||||||||||||||
Total marketable securities held-to-maturity | $ | 768,154 | 350 | (16,991) | 751,513 |
Amortized cost | Gross unrealized holding gains | Gross unrealized holding losses | Fair value | |||||||||
Municipal securities: | ||||||||||||
Due after ten years | $ | 4,808 | 65 | — | 4,873 | |||||||
Residential mortgage-backed securities: | ||||||||||||
Fixed rate pass-through | 4,807 | 217 | — | 5,024 | ||||||||
Variable rate pass-through | 2,848 | 58 | — | 2,906 | ||||||||
Fixed rate agency CMOs | 6,674 | 94 | — | 6,768 | ||||||||
Variable rate agency CMOs | 841 | 14 | — | 855 | ||||||||
Total residential mortgage-backed securities | 15,170 | 383 | — | 15,553 | ||||||||
Total marketable securities held-to-maturity | $ | 19,978 | 448 | — | 20,426 |
Amortized cost | Fair value | ||||||||||
Residential mortgage-backed securities: | |||||||||||
Due in less than one year | $ | 142 | 142 | ||||||||
Due in one year through five years | 44,173 | 42,250 | |||||||||
Due after five years through ten years | 175,552 | 163,453 | |||||||||
Due after ten years | 1,030,594 | 921,995 | |||||||||
Total residential mortgage-backed securities | $ | 1,250,461 | 1,127,840 | ||||||||
Amortized cost | Fair value | ||||||||||
Residential mortgage-backed securities: | |||||||||||
Due in one year through five years | $ | 20,792 | 18,371 | ||||||||
Due after five years through ten years | 171,108 | 152,785 | |||||||||
Due after ten years | 606,828 | 556,718 | |||||||||
Total residential mortgage-backed securities | $ | 798,728 | 727,874 | ||||||||
Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||||||||||||
Fair value | Unrealized loss | Fair value | Unrealized loss | Fair value | Unrealized loss | ||||||||||||||||||||||||||||||
U.S. government-sponsored enterprises | $ | 65,246 | (6,707) | 150,441 | (24,622) | 215,687 | (31,329) | ||||||||||||||||||||||||||||
Municipal securities | 101,666 | (14,055) | 3,702 | (779) | 105,368 | (14,834) | |||||||||||||||||||||||||||||
Corporate debt issues | 6,409 | (62) | — | — | 6,409 | (62) | |||||||||||||||||||||||||||||
Residential mortgage-backed securities - agency | 1,141,928 | (107,959) | 560,788 | (86,077) | 1,702,716 | (194,036) | |||||||||||||||||||||||||||||
Total | $ | 1,315,249 | (128,783) | 714,931 | (111,478) | 2,030,180 | (240,261) |
Less than 12 months | 12 months or more | Total | ||||||||||||||||
Fair value | Unrealized loss | Fair value | Unrealized loss | Fair value | Unrealized loss | |||||||||||||
U.S. government sponsored enterprises | $ | 55,288 | (161 | ) | 174,633 | (1,698 | ) | 229,921 | (1,859 | ) | ||||||||
Municipal securities | 1,735 | (3 | ) | — | — | 1,735 | (3 | ) | ||||||||||
Corporate issues | — | — | 2,220 | (213 | ) | 2,220 | (213 | ) | ||||||||||
Equity securities | — | — | 544 | (6 | ) | 544 | (6 | ) | ||||||||||
Residential mortgage-backed securities - agency | 195,468 | (814 | ) | 177,277 | (4,234 | ) | 372,745 | (5,048 | ) | |||||||||
Total temporarily impaired securities | $ | 252,491 | (978 | ) | 354,674 | (6,151 | ) | 607,165 | (7,129 | ) |
Less than 12 months | 12 months or more | Total | ||||||||||||||||
Fair value | Unrealized loss | Fair value | Unrealized loss | Fair value | Unrealized loss | |||||||||||||
U.S. government sponsored enterprises | $ | 238,003 | (2,448 | ) | 9,205 | (92 | ) | 247,208 | (2,540 | ) | ||||||||
Municipal securities | 5,621 | (37 | ) | 66 | (1 | ) | 5,687 | (38 | ) | |||||||||
Corporate debt issues | — | — | 2,107 | (322 | ) | 2,107 | (322 | ) | ||||||||||
Equity securities | — | — | 544 | (6 | ) | 544 | (6 | ) | ||||||||||
Residential mortgage-backed securities - agency | 213,662 | (3,837 | ) | 87,723 | (2,471 | ) | 301,385 | (6,308 | ) | |||||||||
Total temporarily impaired securities | $ | 457,286 | (6,322 | ) | 99,645 | (2,892 | ) | 556,931 | (9,214 | ) |
Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||||||||||||
Fair value | Unrealized loss | Fair value | Unrealized loss | Fair value | Unrealized loss | ||||||||||||||||||||||||||||||
U.S. government-sponsored enterprises | $ | 132,782 | (3,504) | 106,160 | (4,673) | 238,942 | (8,177) | ||||||||||||||||||||||||||||
Municipal securities | 25,118 | (336) | — | — | 25,118 | (336) | |||||||||||||||||||||||||||||
Residential mortgage-backed securities - agency | 1,428,582 | (26,516) | 184,389 | (7,217) | 1,612,971 | (33,733) | |||||||||||||||||||||||||||||
Total | $ | 1,586,482 | (30,356) | 290,549 | (11,890) | 1,877,031 | (42,246) |
AA+ | Total | ||||||||||
Held-to-maturity securities (at amortized cost): | |||||||||||
Debt issued by the U.S. government-sponsored enterprises | $ | 124,452 | 124,452 | ||||||||
Residential mortgage-backed securities | 798,728 | 798,728 | |||||||||
Total marketable securities held-to-maturity | $ | 923,180 | 923,180 |
2017 | 2016 | |||||
Beginning balance at July 1, (1) | $ | 7,942 | 8,408 | |||
Credit losses on debt securities for which other-than-temporary impairment was not previously recognized | — | — | ||||
Reduction for losses realized during the quarter | — | (16 | ) | |||
Reduction for securities sold/ called realized during the quarter | — | — | ||||
Additional credit losses on debt securities for which other-than-temporary impairment was previously recognized | — | — | ||||
Ending balance at September 30, | $ | 7,942 | 8,392 |
2017 | 2016 | |||||
Beginning balance at January 1, (1) | $ | 7,942 | 8,436 | |||
Credit losses on debt securities for which other-than-temporary impairment was not previously recognized | — | — | ||||
Reduction for losses realized during the quarter | — | (44 | ) | |||
Reduction for securities sold/ called realized during the nine months | — | — | ||||
Additional credit losses on debt securities for which other-than-temporary impairment was previously recognized | — | — | ||||
Ending balance at September 30, | $ | 7,942 | 8,392 |
September 30, 2017 | December 31, 2016 | June 30, 2022 | December 31, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Originated | Acquired | Total | Originated | Acquired | Total | Originated (1) | Acquired (2) | Total | Originated (1) | Acquired (2) | Total | ||||||||||||||||||||||||||||||||||||||||||
Personal Banking: | Personal Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | $ | 2,624,216 | 119,463 | 2,743,679 | 2,565,620 | 133,511 | 2,699,131 | $ | 3,101,251 | 185,524 | 3,286,775 | 2,783,459 | 211,161 | 2,994,620 | |||||||||||||||||||||||||||||||||||||||
Home equity loans | 1,045,152 | 268,283 | 1,313,435 | 1,042,913 | 302,457 | 1,345,370 | Home equity loans | 1,095,844 | 184,648 | 1,280,492 | 1,107,202 | 212,729 | 1,319,931 | ||||||||||||||||||||||||||||||||||||||||
Consumer finance loans (2) | 26,892 | — | 26,892 | 48,981 | — | 48,981 | |||||||||||||||||||||||||||||||||||||||||||||||
Vehicle loans | Vehicle loans | 1,785,828 | 109,907 | 1,895,735 | 1,384,246 | 99,985 | 1,484,231 | ||||||||||||||||||||||||||||||||||||||||||||||
Consumer loans | 522,604 | 110,611 | 633,215 | 418,656 | 163,622 | 582,278 | Consumer loans | 97,939 | 8,871 | 106,810 | 307,961 | 46,556 | 354,517 | ||||||||||||||||||||||||||||||||||||||||
Total Personal Banking | 4,218,864 | 498,357 | 4,717,221 | 4,076,170 | 599,590 | 4,675,760 | Total Personal Banking | 6,080,862 | 488,950 | 6,569,812 | 5,582,868 | 570,431 | 6,153,299 | ||||||||||||||||||||||||||||||||||||||||
Commercial Banking: | Commercial Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | 2,210,699 | 312,192 | 2,522,891 | 2,140,678 | 372,991 | 2,513,669 | Commercial real estate loans | 2,130,573 | 355,401 | 2,485,974 | 2,202,027 | 423,454 | 2,625,481 | ||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | Commercial real estate loans - owner occupied | 342,907 | 47,295 | 390,202 | 321,253 | 68,750 | 390,003 | ||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | 556,750 | 69,724 | 626,474 | 481,543 | 75,676 | 557,219 | Commercial loans | 926,565 | 60,271 | 986,836 | 765,877 | 81,732 | 847,609 | ||||||||||||||||||||||||||||||||||||||||
Total Commercial Banking | 2,767,449 | 381,916 | 3,149,365 | 2,622,221 | 448,667 | 3,070,888 | Total Commercial Banking | 3,400,045 | 462,967 | 3,863,012 | 3,289,157 | 573,936 | 3,863,093 | ||||||||||||||||||||||||||||||||||||||||
Total loans receivable, gross | 6,986,313 | 880,273 | 7,866,586 | 6,698,391 | 1,048,257 | 7,746,648 | Total loans receivable, gross | 9,480,907 | 951,917 | 10,432,824 | 8,872,025 | 1,144,367 | 10,016,392 | ||||||||||||||||||||||||||||||||||||||||
Deferred loan costs | 24,707 | 1,799 | 26,506 | 20,081 | 2,294 | 22,375 | |||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | (50,845 | ) | (6,082 | ) | (56,927 | ) | (55,293 | ) | (5,646 | ) | (60,939 | ) | |||||||||||||||||||||||||||||||||||||||||
Undisbursed loan proceeds: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | (13,146 | ) | — | (13,146 | ) | (11,638 | ) | — | (11,638 | ) | |||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | (121,316 | ) | (2,689 | ) | (124,005 | ) | (168,595 | ) | (2,985 | ) | (171,580 | ) | |||||||||||||||||||||||||||||||||||||||||
Commercial loans | (28,519 | ) | (1,284 | ) | (29,803 | ) | (26,168 | ) | (2,290 | ) | (28,458 | ) | |||||||||||||||||||||||||||||||||||||||||
Total loans receivable, net | $ | 6,797,194 | 872,017 | 7,669,211 | 6,456,778 | 1,039,630 | 7,496,408 | ||||||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses | Allowance for credit losses | (84,300) | (14,055) | (98,355) | (86,750) | (15,491) | (102,241) | ||||||||||||||||||||||||||||||||||||||||||||||
Total loans receivable, net (4) | Total loans receivable, net (4) | $ | 9,396,607 | 937,862 | 10,334,469 | 8,785,275 | 1,128,876 | 9,914,151 |
September 30, 2017 | December 31, 2016 | |||||
Acquired loans evaluated individually for future credit losses: | ||||||
Outstanding principal balance | $ | 10,344 | 16,108 | |||
Carrying value | 7,393 | 12,665 | ||||
Acquired loans evaluated collectively for future credit losses: | ||||||
Outstanding principal balance | 877,022 | 1,040,378 | ||||
Carrying value | 870,705 | 1,032,611 | ||||
Total acquired loans: | ||||||
Outstanding principal balance | 887,366 | 1,056,486 | ||||
Carrying value | 878,098 | 1,045,276 |
Total | |||
Balance at December 31, 2015 | $ | 2,019 | |
Accretion | (1,170 | ) | |
Net reclassification from nonaccretable yield | 1,338 | ||
Balance at December 31, 2016 | 2,187 | ||
Accretion | (1,130 | ) | |
Net reclassification from nonaccretable yield | 498 | ||
Balance at September 30, 2017 | $ | 1,555 |
Carrying value | Outstanding principal balance | Related impairment reserve | Average recorded investment in impaired loans | Interest income recognized | |||||||||||
Personal Banking: | |||||||||||||||
Residential mortgage loans | $ | 1,215 | 1,931 | 37 | 1,267 | 126 | |||||||||
Home equity loans | 1,166 | 2,274 | 9 | 1,264 | 124 | ||||||||||
Consumer loans | 80 | 198 | 4 | 108 | 43 | ||||||||||
Total Personal Banking | 2,461 | 4,403 | 50 | 2,639 | 293 | ||||||||||
Commercial Banking: | |||||||||||||||
Commercial real estate loans | 4,828 | 5,826 | 67 | 7,212 | 823 | ||||||||||
Commercial loans | 104 | 115 | — | 178 | 14 | ||||||||||
Total Commercial Banking | 4,932 | 5,941 | 67 | 7,390 | 837 | ||||||||||
Total | $ | 7,393 | 10,344 | 117 | 10,029 | 1,130 |
Carrying value | Outstanding principal balance | Related impairment reserve | Average recorded investment in impaired loans | Interest income recognized | |||||||||||
Personal Banking: | |||||||||||||||
Residential mortgage loans | $ | 1,319 | 2,062 | 204 | 1,650 | 202 | |||||||||
Home equity loans | 1,363 | 2,669 | 8 | 1,724 | 185 | ||||||||||
Consumer loans | 136 | 303 | 3 | 201 | 51 | ||||||||||
Total Personal Banking | 2,818 | 5,034 | 215 | 3,575 | 438 | ||||||||||
Commercial Banking: | |||||||||||||||
Commercial real estate loans | 9,596 | 10,809 | 52 | 10,942 | 721 | ||||||||||
Commercial loans | 251 | 265 | — | 249 | 11 | ||||||||||
Total Commercial Banking | 9,847 | 11,074 | 52 | 11,191 | 732 | ||||||||||
Total | $ | 12,665 | 16,108 | 267 | 14,766 | 1,170 |
Balance as of June 30, 2022 | Current period provision | Charge-offs | Recoveries | Balance as of March 31, 2022 | ||||||||||||||||||||||||||||||||||
Allowance for Credit Losses | ||||||||||||||||||||||||||||||||||||||
Personal Banking: | ||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | $ | 16,158 | 2,723 | (138) | 267 | 13,306 | ||||||||||||||||||||||||||||||||
Home equity loans | 5,232 | (583) | (255) | 427 | 5,643 | |||||||||||||||||||||||||||||||||
Vehicle loans | 15,738 | 1,888 | (934) | 603 | 14,181 | |||||||||||||||||||||||||||||||||
Consumer loans | 779 | (1,685) | (978) | 333 | 3,109 | |||||||||||||||||||||||||||||||||
Total Personal Banking | 37,907 | 2,343 | (2,305) | 1,630 | 36,239 | |||||||||||||||||||||||||||||||||
Commercial Banking: | ||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | 39,641 | (1,917) | (4,392) | 1,378 | 44,572 | |||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 4,095 | (188) | — | 7 | 4,276 | |||||||||||||||||||||||||||||||||
Commercial loans | 16,712 | 2,391 | (329) | 442 | 14,208 | |||||||||||||||||||||||||||||||||
Total Commercial Banking | 60,448 | 286 | (4,721) | 1,827 | 63,056 | |||||||||||||||||||||||||||||||||
Total | $ | 98,355 | 2,629 | (7,026) | 3,457 | 99,295 | ||||||||||||||||||||||||||||||||
Allowance for Credit Losses - off-balance sheet exposure | ||||||||||||||||||||||||||||||||||||||
Personal Banking: | ||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | $ | 6 | — | — | — | 6 | ||||||||||||||||||||||||||||||||
Home equity loans | 64 | 9 | — | — | 55 | |||||||||||||||||||||||||||||||||
Total Personal Banking | 70 | 9 | — | — | 61 | |||||||||||||||||||||||||||||||||
Commercial Banking: | ||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | 3,463 | 1,671 | — | — | 1,792 | |||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 328 | 120 | — | — | 208 | |||||||||||||||||||||||||||||||||
Commercial loans | 3,589 | 1,596 | — | — | 1,993 | |||||||||||||||||||||||||||||||||
Total Commercial Banking | 7,380 | 3,387 | — | — | 3,993 | |||||||||||||||||||||||||||||||||
Total off-balance sheet exposure | $ | 7,450 | 3,396 | — | — | 4,054 | ||||||||||||||||||||||||||||||||
Balance September 30, 2017 | Current period provision | Charge-offs | Recoveries | Balance June 30, 2017 | |||||||||||
Originated loans: | |||||||||||||||
Personal Banking: | |||||||||||||||
Residential mortgage loans | $ | 3,986 | (462 | ) | (211 | ) | 24 | 4,635 | |||||||
Home equity loans | 3,295 | 615 | (285 | ) | 8 | 2,957 | |||||||||
Consumer finance loans | 4,876 | 4,220 | (3,891 | ) | 80 | 4,467 | |||||||||
Consumer loans | 7,383 | 4,594 | (2,844 | ) | 353 | 5,280 | |||||||||
Total Personal Banking | 19,540 | 8,967 | (7,231 | ) | 465 | 17,339 | |||||||||
Commercial Banking: | |||||||||||||||
Commercial real estate loans | 20,174 | (2,529 | ) | (163 | ) | 282 | 22,584 | ||||||||
Commercial loans | 11,131 | (5,445 | ) | (204 | ) | 76 | 16,704 | ||||||||
Total Commercial Banking | 31,305 | (7,974 | ) | (367 | ) | 358 | 39,288 | ||||||||
Total originated loans | 50,845 | 993 | (7,598 | ) | 823 | 56,627 | |||||||||
Acquired loans: | |||||||||||||||
Personal Banking: | |||||||||||||||
Residential mortgage loans | 77 | (11 | ) | (4 | ) | 7 | 85 | ||||||||
Home equity loans | 748 | 324 | (243 | ) | 44 | 623 | |||||||||
Consumer loans | 594 | 106 | (158 | ) | 18 | 628 | |||||||||
Total Personal Banking | 1,419 | 419 | (405 | ) | 69 | 1,336 | |||||||||
Commercial Banking: | |||||||||||||||
Commercial real estate loans | 3,301 | 2,433 | (1,738 | ) | 160 | 2,446 | |||||||||
Commercial loans | 1,362 | (818 | ) | (305 | ) | 9 | 2,476 | ||||||||
Total Commercial Banking | 4,663 | 1,615 | (2,043 | ) | 169 | 4,922 | |||||||||
Total acquired loans | 6,082 | 2,034 | (2,448 | ) | 238 | 6,258 | |||||||||
Total | $ | 56,927 | 3,027 | (10,046 | ) | 1,061 | 62,885 |
Balance as of June 30, 2021 | Current period provision | Charge-offs | Recoveries | Balance as of March 31, 2021 | |||||||||||||||||||||||||||||||
Allowance for Credit Losses | |||||||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||
Residential mortgage loans | $ | 7,247 | 1,922 | (770) | 234 | 5,861 | |||||||||||||||||||||||||||||
Home equity loans | 7,239 | 2,253 | (379) | 124 | 5,241 | ||||||||||||||||||||||||||||||
Vehicle loans | 12,888 | (1,196) | (1,598) | 794 | 14,888 | ||||||||||||||||||||||||||||||
Consumer loans | 2,801 | 691 | (803) | 350 | 2,563 | ||||||||||||||||||||||||||||||
Total Personal Banking | 30,175 | 3,670 | (3,550) | 1,502 | 28,553 | ||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||
Commercial real estate loans | 64,580 | (2,925) | (3,074) | 373 | 70,206 | ||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 4,729 | (1,138) | (890) | 4 | 6,753 | ||||||||||||||||||||||||||||||
Commercial loans | 17,846 | 393 | (1,161) | 129 | 18,485 | ||||||||||||||||||||||||||||||
Total Commercial Banking | 87,155 | (3,670) | (5,125) | 506 | 95,444 | ||||||||||||||||||||||||||||||
Total | $ | 117,330 | — | (8,675) | 2,008 | 123,997 | |||||||||||||||||||||||||||||
Allowance for Credit Losses - off-balance sheet exposure | |||||||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||
Residential mortgage loans | $ | 2 | — | — | — | 2 | |||||||||||||||||||||||||||||
Home equity loans | 42 | 8 | — | — | 34 | ||||||||||||||||||||||||||||||
Total Personal Banking | 44 | 8 | — | — | 36 | ||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||
Commercial real estate loans | 1,932 | (183) | — | — | 2,115 | ||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 181 | (207) | — | — | 388 | ||||||||||||||||||||||||||||||
Commercial loans | 1,232 | (848) | — | — | 2,080 | ||||||||||||||||||||||||||||||
Total Commercial Banking | 3,345 | (1,238) | — | — | 4,583 | ||||||||||||||||||||||||||||||
Total off-balance sheet exposure | $ | 3,389 | (1,230) | — | — | 4,619 |
Balance September 30, 2016 | Current period provision | Charge-offs | Recoveries | Balance June 30, 2016 | |||||||||||
Originated loans: | |||||||||||||||
Personal Banking: | |||||||||||||||
Residential mortgage loans | $ | 4,002 | 1,109 | (268 | ) | 139 | 3,022 | ||||||||
Home equity loans | 3,519 | 296 | (161 | ) | 49 | 3,335 | |||||||||
Consumer finance loans | 3,429 | 1,014 | (835 | ) | 111 | 3,139 | |||||||||
Consumer loans | 5,667 | 2,331 | (1,700 | ) | 251 | 4,785 | |||||||||
Total Personal Banking | 16,617 | 4,750 | (2,964 | ) | 550 | 14,281 | |||||||||
Commercial Banking: | |||||||||||||||
Commercial real estate loans | 24,530 | (1,041 | ) | (602 | ) | 487 | 25,686 | ||||||||
Commercial loans | 16,877 | 1,668 | (708 | ) | 561 | 15,356 | |||||||||
Total Commercial Banking | 41,407 | 627 | (1,310 | ) | 1,048 | 41,042 | |||||||||
Total originated loans | 58,024 | 5,377 | (4,274 | ) | 1,598 | 55,323 | |||||||||
Acquired loans: | |||||||||||||||
Personal Banking: | |||||||||||||||
Residential mortgage loans | 78 | 45 | (86 | ) | 58 | 61 | |||||||||
Home equity loans | 1,171 | 138 | (127 | ) | 32 | 1,128 | |||||||||
Consumer loans | 644 | 212 | (166 | ) | 46 | 552 | |||||||||
Total Personal Banking | 1,893 | 395 | (379 | ) | 136 | 1,741 | |||||||||
Commercial Banking: | |||||||||||||||
Commercial real estate loans | 2,422 | (588 | ) | (187 | ) | 32 | 3,165 | ||||||||
Commercial loans | 907 | 354 | — | 1 | 552 | ||||||||||
Total Commercial Banking | 3,329 | (234 | ) | (187 | ) | 33 | 3,717 | ||||||||
Total acquired loans | 5,222 | 161 | (566 | ) | 169 | 5,458 | |||||||||
Total | $ | 63,246 | 5,538 | (4,840 | ) | 1,767 | 60,781 |
Balance as of June 30, 2022 | Current period provision | Charge-offs | Recoveries | Balance as of December 31, 2021 | ||||||||||||||||||||||||||||||||||||||||
Balance September 30, 2017 | Current period provision | Charge-offs | Recoveries | Balance December 31, 2016 | ||||||||||||||||||||||||||||||||||||||||
Originated loans: | ||||||||||||||||||||||||||||||||||||||||||||
Allowance for Credit Losses | Allowance for Credit Losses | |||||||||||||||||||||||||||||||||||||||||||
Personal Banking: | Personal Banking: | |||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | $ | 3,986 | (278 | ) | (678 | ) | 286 | 4,656 | Residential mortgage loans | $ | 16,158 | 9,685 | (1,321) | 421 | 7,373 | |||||||||||||||||||||||||||||
Home equity loans | 3,295 | 503 | (803 | ) | 109 | 3,486 | Home equity loans | 5,232 | (214) | (702) | 848 | 5,300 | ||||||||||||||||||||||||||||||||
Consumer finance loans | 4,876 | 6,610 | (5,469 | ) | 290 | 3,445 | ||||||||||||||||||||||||||||||||||||||
Vehicle loans | Vehicle loans | 15,738 | 583 | (1,581) | 1,253 | 15,483 | ||||||||||||||||||||||||||||||||||||||
Consumer loans | 7,383 | 9,741 | (7,912 | ) | 1,025 | 4,529 | Consumer loans | 779 | (691) | (2,054) | 640 | 2,884 | ||||||||||||||||||||||||||||||||
Total Personal Banking | 19,540 | 16,576 | (14,862 | ) | 1,710 | 16,116 | Total Personal Banking | 37,907 | 9,363 | (5,658) | 3,162 | 31,040 | ||||||||||||||||||||||||||||||||
Commercial Banking: | Commercial Banking: | |||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | 20,174 | (3,988 | ) | (498 | ) | 993 | 23,667 | Commercial real estate loans | 39,641 | (11,582) | (5,416) | 2,498 | 54,141 | |||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | Commercial real estate loans - owner occupied | 4,095 | 201 | — | 11 | 3,883 | ||||||||||||||||||||||||||||||||||||||
Commercial loans | 11,131 | (3,517 | ) | (1,858 | ) | 996 | 15,510 | Commercial loans | 16,712 | 3,166 | (1,010) | 1,379 | 13,177 | |||||||||||||||||||||||||||||||
Total Commercial Banking | 31,305 | (7,505 | ) | (2,356 | ) | 1,989 | 39,177 | Total Commercial Banking | 60,448 | (8,215) | (6,426) | 3,888 | 71,201 | |||||||||||||||||||||||||||||||
Total originated loans | 50,845 | 9,071 | (17,218 | ) | 3,699 | 55,293 | ||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 98,355 | 1,148 | (12,084) | 7,050 | 102,241 | |||||||||||||||||||||||||||||||||||||
Acquired loans: | ||||||||||||||||||||||||||||||||||||||||||||
Allowance for Credit Losses - off-balance sheet exposure | Allowance for Credit Losses - off-balance sheet exposure | |||||||||||||||||||||||||||||||||||||||||||
Personal Banking: | Personal Banking: | |||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | 77 | 130 | (199 | ) | 75 | 71 | Residential mortgage loans | $ | 6 | 4 | — | — | 2 | |||||||||||||||||||||||||||||||
Home equity loans | 748 | 512 | (1,063 | ) | 252 | 1,047 | Home equity loans | 64 | 25 | — | — | 39 | ||||||||||||||||||||||||||||||||
Consumer loans | 594 | 405 | (689 | ) | 225 | 653 | ||||||||||||||||||||||||||||||||||||||
Total Personal Banking | 1,419 | 1,047 | (1,951 | ) | 552 | 1,771 | Total Personal Banking | 70 | 29 | — | — | 41 | ||||||||||||||||||||||||||||||||
Commercial Banking: | Commercial Banking: | |||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | 3,301 | 1,832 | (2,206 | ) | 667 | 3,008 | Commercial real estate loans | 3,463 | 2,582 | — | — | 881 | ||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | Commercial real estate loans - owner occupied | 328 | 186 | — | — | 142 | ||||||||||||||||||||||||||||||||||||||
Commercial loans | 1,362 | 1,276 | (847 | ) | 66 | 867 | Commercial loans | 3,589 | 2,195 | — | — | 1,394 | ||||||||||||||||||||||||||||||||
Total Commercial Banking | 4,663 | 3,108 | (3,053 | ) | 733 | 3,875 | Total Commercial Banking | 7,380 | 4,963 | — | — | 2,417 | ||||||||||||||||||||||||||||||||
Total acquired loans | 6,082 | 4,155 | (5,004 | ) | 1,285 | 5,646 | ||||||||||||||||||||||||||||||||||||||
Total | $ | 56,927 | 13,226 | (22,222 | ) | 4,984 | 60,939 | |||||||||||||||||||||||||||||||||||||
Total off-balance sheet exposure | Total off-balance sheet exposure | $ | 7,450 | 4,992 | — | — | 2,458 |
Balance September 30, 2016 | Current period provision | Charge-offs | Recoveries | Balance December 31, 2015 | |||||||||||
Originated loans: | |||||||||||||||
Personal banking: | |||||||||||||||
Residential mortgage loans | $ | 4,002 | 1,612 | (2,559 | ) | 257 | 4,692 | ||||||||
Home equity loans | 3,519 | 253 | (898 | ) | 223 | 3,941 | |||||||||
Consumer finance loans | 3,429 | 2,163 | (2,321 | ) | 312 | 3,275 | |||||||||
Consumer loans | 5,667 | 5,205 | (4,587 | ) | 836 | 4,213 | |||||||||
Total personal banking | 16,617 | 9,233 | (10,365 | ) | 1,628 | 16,121 | |||||||||
Commercial banking: | |||||||||||||||
Commercial real estate loans | 24,530 | (8,756 | ) | (2,103 | ) | 3,041 | 32,348 | ||||||||
Commercial loans | 16,877 | 5,008 | (1,704 | ) | 1,072 | 12,501 | |||||||||
Total commercial banking | 41,407 | (3,748 | ) | (3,807 | ) | 4,113 | 44,849 | ||||||||
Total originated loans | 58,024 | 5,485 | (14,172 | ) | 5,741 | 60,970 | |||||||||
Acquired loans: | |||||||||||||||
Personal banking: | |||||||||||||||
Residential mortgage loans | 78 | 118 | (211 | ) | 153 | 18 | |||||||||
Home equity loans | 1,171 | 2,093 | (1,320 | ) | 297 | 101 | |||||||||
Consumer loans | 644 | 925 | (528 | ) | 137 | 110 | |||||||||
Total personal banking | 1,893 | 3,136 | (2,059 | ) | 587 | 229 | |||||||||
Commercial banking: | |||||||||||||||
Commercial real estate loans | 2,422 | 1,886 | (1,314 | ) | 411 | 1,439 | |||||||||
Commercial loans | 907 | 890 | (24 | ) | 7 | 34 | |||||||||
Total commercial banking | 3,329 | 2,776 | (1,338 | ) | 418 | 1,473 | |||||||||
Total acquired loans | 5,222 | 5,912 | (3,397 | ) | 1,005 | 1,702 | |||||||||
Total | $ | 63,246 | 11,397 | (17,569 | ) | 6,746 | 62,672 |
Balance as of June 30, 2021 | Current period provision | Charge-offs | Recoveries | Balance as of December 31, 2020 | |||||||||||||||||||||||||
Allowance for Credit Losses | |||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||
Residential mortgage loans | $ | 7,247 | 1,330 | (1,625) | 276 | 7,266 | |||||||||||||||||||||||
Home equity loans | 7,239 | 1,601 | (607) | 253 | 5,992 | ||||||||||||||||||||||||
Vehicle loans | 12,888 | (423) | (2,905) | 1,391 | 14,825 | ||||||||||||||||||||||||
Consumer loans | 2,801 | 1,342 | (2,099) | 687 | 2,871 | ||||||||||||||||||||||||
Total Personal Banking | 30,175 | 3,850 | (7,236) | 2,607 | 30,954 | ||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||
Commercial real estate loans | 64,580 | (7,756) | (7,700) | 655 | 79,381 | ||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 4,729 | (4,904) | (890) | 5 | 10,518 | ||||||||||||||||||||||||
Commercial loans | 17,846 | 3,190 | (1,215) | 2,297 | 13,574 | ||||||||||||||||||||||||
Total Commercial Banking | 87,155 | (9,470) | (9,805) | 2,957 | 103,473 | ||||||||||||||||||||||||
Total | $ | 117,330 | (5,620) | (17,041) | 5,564 | 134,427 | |||||||||||||||||||||||
Allowance for Credit Losses - off-balance sheet exposure | |||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||
Residential mortgage loans | $ | 2 | — | — | — | 2 | |||||||||||||||||||||||
Home equity loans | 42 | 7 | — | — | 35 | ||||||||||||||||||||||||
Total Personal Banking | 44 | 7 | — | — | 37 | ||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||
Commercial real estate loans | 1,932 | (1,517) | — | — | 3,449 | ||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 181 | (145) | — | — | 326 | ||||||||||||||||||||||||
Commercial loans | 1,232 | (1,319) | — | — | 2,551 | ||||||||||||||||||||||||
Total Commercial Banking | 3,345 | (2,981) | — | — | 6,326 | ||||||||||||||||||||||||
Total off-balance sheet exposure | $ | 3,389 | (2,974) | — | — | 6,363 |
Total loans receivable | Allowance for credit losses | Nonaccrual loans (1) | Loans 90 days past due and accruing | TDRs | Allowance related to TDRs | Additional commitments to customers with loans classified as TDRs | |||||||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | $ | 3,286,775 | 16,158 | 7,616 | — | 6,157 | 861 | — | |||||||||||||||||||||||||||||||||
Home equity loans | 1,280,492 | 5,232 | 4,156 | — | 1,465 | 472 | — | ||||||||||||||||||||||||||||||||||
Vehicle loans | 1,895,735 | 15,738 | 3,166 | — | — | — | — | ||||||||||||||||||||||||||||||||||
Consumer loans | 106,810 | 779 | 136 | 379 | — | — | — | ||||||||||||||||||||||||||||||||||
Total Personal Banking | 6,569,812 | 37,907 | 15,074 | 379 | 7,622 | 1,333 | — | ||||||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | 2,485,974 | 39,641 | 76,437 | — | 42,180 | 1,558 | 18 | ||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 390,202 | 4,095 | 590 | — | 144 | 23 | — | ||||||||||||||||||||||||||||||||||
Commercial loans | 986,836 | 16,712 | 6,284 | — | 4,291 | 549 | 327 | ||||||||||||||||||||||||||||||||||
Total Commercial Banking | 3,863,012 | 60,448 | 83,311 | — | 46,615 | 2,130 | 345 | ||||||||||||||||||||||||||||||||||
Total | $ | 10,432,824 | 98,355 | 98,385 | 379 | 54,237 | 3,463 | 345 |
Total loans receivable | Allowance for loan losses | Nonaccrual loans (1) | Loans past due 90 days or more and still accruing (2) | TDRs (3) | Allowance related to TDRs | Additional commitments to customers with loans classified as TDRs | |||||||||||||||
Personal Banking: | |||||||||||||||||||||
Residential mortgage loans | $ | 2,743,226 | 4,063 | 13,195 | — | 7,807 | 782 | — | |||||||||||||
Home equity loans | 1,313,435 | 4,043 | 7,699 | 146 | 1,781 | 451 | 4 | ||||||||||||||
Consumer finance loans | 26,892 | 4,876 | 333 | — | — | — | — | ||||||||||||||
Consumer loans | 647,028 | 7,977 | 4,108 | 252 | — | — | — | ||||||||||||||
Total Personal Banking | 4,730,581 | 20,959 | 25,335 | 398 | 9,588 | 1,233 | 4 | ||||||||||||||
Commercial Banking: | |||||||||||||||||||||
Commercial real estate loans | 2,398,886 | 23,475 | 39,721 | — | 22,173 | 1,926 | 252 | ||||||||||||||
Commercial loans | 596,671 | 12,493 | 8,278 | — | 6,708 | 1,025 | 23 | ||||||||||||||
Total Commercial Banking | 2,995,557 | 35,968 | 47,999 | — | 28,881 | 2,951 | 275 | ||||||||||||||
Total | $ | 7,726,138 | 56,927 | 73,334 | 398 | 38,469 | 4,184 | 279 |
Total loans receivable | Allowance for credit losses | Nonaccrual loans (1) | Loans 90 days past due and accruing | TDRs | Allowance related to TDRs | Additional commitments to customers with loans classified as TDRs | |||||||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | $ | 2,994,620 | 7,373 | 10,402 | — | 6,749 | 1,442 | — | |||||||||||||||||||||||||||||||||
Home equity loans | 1,319,931 | 5,300 | 5,758 | — | 1,781 | 718 | — | ||||||||||||||||||||||||||||||||||
Vehicle loans | 1,484,231 | 15,483 | 3,263 | — | — | — | — | ||||||||||||||||||||||||||||||||||
Consumer loans | 354,517 | 2,884 | 675 | 331 | — | — | — | ||||||||||||||||||||||||||||||||||
Total Personal Banking | 6,153,299 | 31,040 | 20,098 | 331 | 8,530 | 2,160 | — | ||||||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | 2,625,481 | 54,141 | 129,666 | — | 17,025 | 2,024 | 400 | ||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 390,003 | 3,883 | 1,233 | — | 159 | 24 | — | ||||||||||||||||||||||||||||||||||
Commercial loans | 847,609 | 13,177 | 7,474 | — | 4,574 | 609 | 60 | ||||||||||||||||||||||||||||||||||
Total Commercial Banking | 3,863,093 | 71,201 | 138,373 | — | 21,758 | 2,657 | 460 | ||||||||||||||||||||||||||||||||||
Total | $ | 10,016,392 | 102,241 | 158,471 | 331 | 30,288 | 4,817 | 460 |
Total loans receivable | Allowance for loan losses | Nonaccrual loans (1) | Loans past due 90 days or more and still accruing (2) | TDRs (3) | Allowance related to TDRs | Additional commitments to customers with loans classified as TDRs | |||||||||||||||
Personal Banking: | |||||||||||||||||||||
Residential mortgage loans | $ | 2,698,166 | 4,727 | 18,264 | — | 7,299 | 708 | — | |||||||||||||
Home equity loans | 1,345,370 | 4,533 | 7,865 | — | 1,813 | 450 | 4 | ||||||||||||||
Consumer finance loans | 48,981 | 3,445 | 743 | — | — | — | — | ||||||||||||||
Consumer loans | 593,980 | 5,182 | 4,366 | 85 | — | — | — | ||||||||||||||
Total Personal Banking | 4,686,497 | 17,887 | 31,238 | 85 | 9,112 | 1,158 | 4 | ||||||||||||||
Commercial Banking: | |||||||||||||||||||||
Commercial real estate loans | 2,342,089 | 26,675 | 38,724 | 564 | 24,483 | 2,072 | 417 | ||||||||||||||
Commercial loans | 528,761 | 16,377 | 9,574 | — | 9,331 | 1,360 | 17 | ||||||||||||||
Total Commercial Banking | 2,870,850 | 43,052 | 48,298 | 564 | 33,814 | 3,432 | 434 | ||||||||||||||
Total | $ | 7,557,347 | 60,939 | 79,536 | 649 | 42,926 | 4,590 | 438 |
June 30, 2022 | |||||||||||||||||||||||||||||||||||
Nonaccrual loans at January 1, 2022 | Nonaccrual loans with an allowance | Nonaccrual loans with no allowance | Total nonaccrual loans at the end of the period | Loans 90 days past due and accruing | |||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||
Residential mortgage loans | $ | 10,402 | 7,616 | — | 7,616 | — | |||||||||||||||||||||||||||||
Home equity loans | 5,758 | 3,956 | 200 | 4,156 | — | ||||||||||||||||||||||||||||||
Vehicle loans | 3,263 | 1,941 | 1,225 | 3,166 | — | ||||||||||||||||||||||||||||||
Consumer loans | 675 | 136 | — | 136 | 379 | ||||||||||||||||||||||||||||||
Total Personal Banking | 20,098 | 13,649 | 1,425 | 15,074 | 379 | ||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||
Commercial real estate loans | 129,666 | 10,534 | 65,903 | 76,437 | — | ||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 1,233 | 590 | — | 590 | — | ||||||||||||||||||||||||||||||
Commercial loans | 7,474 | 3,506 | 2,778 | 6,284 | — | ||||||||||||||||||||||||||||||
Total Commercial Banking | 138,373 | 14,630 | 68,681 | 83,311 | — | ||||||||||||||||||||||||||||||
Total | $ | 158,471 | 28,279 | 70,106 | 98,385 | 379 |
December 31, 2021 | |||||||||||||||||||||||||||||||||||
Nonaccrual loans at January 1, 2021 | Nonaccrual loans with an allowance | Nonaccrual loans with no allowance | Total nonaccrual loans at the end of the period | Loans 90 days past due and accruing | |||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||
Residential mortgage loans | $ | 15,924 | 10,402 | — | 10,402 | — | |||||||||||||||||||||||||||||
Home equity loans | 9,123 | 5,551 | 207 | 5,758 | — | ||||||||||||||||||||||||||||||
Vehicle loans | 5,533 | 3,251 | 12 | 3,263 | — | ||||||||||||||||||||||||||||||
Consumer loans | 1,031 | 674 | 1 | 675 | 331 | ||||||||||||||||||||||||||||||
Total Personal Banking | 31,611 | 19,878 | 220 | 20,098 | 331 | ||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||
Commercial real estate loans | 44,092 | 65,529 | 64,137 | 129,666 | — | ||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 3,642 | 1,233 | — | 1,233 | — | ||||||||||||||||||||||||||||||
Commercial loans | 23,487 | 3,941 | 3,533 | 7,474 | — | ||||||||||||||||||||||||||||||
Total Commercial Banking | 71,221 | 70,703 | 67,670 | 138,373 | — | ||||||||||||||||||||||||||||||
Total | $ | 102,832 | 90,581 | 67,890 | 158,471 | 331 |
Nonaccrual loans 90 or more days delinquent | Nonaccrual loans less than 90 days delinquent | Loans less than 90 days delinquent reviewed for impairment | TDRs less than 90 days delinquent not included elsewhere | Total impaired loans | Average recorded investment in impaired loans | Interest income recognized on impaired loans | Real estate | Equipment | Total | |||||||||||||||||||||||||||||||||||||||||
Personal Banking: | Personal Banking: | |||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | $ | 11,785 | 1,410 | — | 6,894 | 20,089 | 21,521 | 706 | Residential mortgage loans | $ | 575 | — | 575 | |||||||||||||||||||||||||||||||||||||
Home equity loans | 6,295 | 1,404 | — | 1,436 | 9,135 | 8,878 | 320 | Home equity loans | 100 | — | 100 | |||||||||||||||||||||||||||||||||||||||
Consumer finance loans | 332 | 1 | ��� | — | 333 | 428 | 15 | |||||||||||||||||||||||||||||||||||||||||||
Consumer loans | 3,244 | 864 | — | — | 4,108 | 3,887 | 132 | |||||||||||||||||||||||||||||||||||||||||||
Total Personal Banking | 21,656 | 3,679 | — | 8,330 | 33,665 | 34,714 | 1,173 | Total Personal Banking | 675 | — | 675 | |||||||||||||||||||||||||||||||||||||||
Commercial Banking: | Commercial Banking: | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | 22,583 | 17,138 | 4,707 | 4,804 | 49,232 | 52,813 | 1,381 | Commercial real estate loans | 74,267 | — | 74,267 | |||||||||||||||||||||||||||||||||||||||
Commercial loans | 4,177 | 4,101 | 943 | 2,447 | 11,668 | 12,402 | 544 | Commercial loans | 3,810 | 1,262 | 5,072 | |||||||||||||||||||||||||||||||||||||||
Total Commercial Banking | 26,760 | 21,239 | 5,650 | 7,251 | 60,900 | 65,215 | 1,925 | Total Commercial Banking | 78,077 | 1,262 | 79,339 | |||||||||||||||||||||||||||||||||||||||
Total | $ | 48,416 | 24,918 | 5,650 | 15,581 | 94,565 | 99,929 | 3,098 | Total | $ | 78,752 | 1,262 | 80,014 |
Real estate | Equipment | Total | |||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||
Residential mortgage loans | $ | 580 | — | 580 | |||||||||||||||||||||||||
Home equity loans | 99 | — | 99 | ||||||||||||||||||||||||||
Total Personal Banking | 679 | — | 679 | ||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||
Commercial real estate loans | 119,825 | 1,705 | 121,530 | ||||||||||||||||||||||||||
Commercial loans | 3,973 | 1,926 | 5,899 | ||||||||||||||||||||||||||
Total Commercial Banking | 123,798 | 3,631 | 127,429 | ||||||||||||||||||||||||||
Total | $ | 124,477 | 3,631 | 128,108 |
Nonaccrual loans 90 or more days delinquent | Nonaccrual loans less than 90 days delinquent | Loans less than 90 days delinquent reviewed for impairment | TDRs less than 90 days delinquent not included elsewhere | Total impaired loans | Average recorded investment in impaired loans | Interest income recognized on impaired loans | |||||||||||||||
Personal Banking: | |||||||||||||||||||||
Residential mortgage loans | $ | 13,169 | 5,095 | — | 5,929 | 24,193 | 24,483 | 1,079 | |||||||||||||
Home equity loans | 5,552 | 2,313 | — | 1,439 | 9,304 | 9,234 | 496 | ||||||||||||||
Consumer finance loans | 743 | — | — | — | 743 | 772 | 35 | ||||||||||||||
Consumer loans | 3,080 | 1,286 | — | — | 4,366 | 2,931 | 131 | ||||||||||||||
Total Personal Banking | 22,544 | 8,694 | — | 7,368 | 38,606 | 37,420 | 1,741 | ||||||||||||||
Commercial Banking: | |||||||||||||||||||||
Commercial real estate loans | 19,264 | 19,460 | 3,622 | 11,582 | 53,928 | 64,350 | 2,864 | ||||||||||||||
Commercial loans | 3,373 | 6,201 | 2,837 | 3,116 | 15,527 | 16,905 | 991 | ||||||||||||||
Total Commercial Banking | 22,637 | 25,661 | 6,459 | 14,698 | 69,455 | 81,255 | 3,855 | ||||||||||||||
Total | $ | 45,181 | 34,355 | 6,459 | 22,066 | 108,061 | 118,675 | 5,596 |
Loans collectively evaluated for impairment | Loans individually evaluated for impairment | Loans individually evaluated for impairment for which there is a related impairment reserve | Related impairment reserve | Loans individually evaluated for impairment for which there is no related reserve | |||||||||||
Personal Banking: | |||||||||||||||
Residential mortgage loans | $ | 2,734,753 | 8,473 | 8,473 | 783 | — | |||||||||
Home equity loans | 1,311,654 | 1,781 | 1,781 | 451 | — | ||||||||||
Consumer finance loans | 26,892 | — | — | — | — | ||||||||||
Consumer loans | 646,933 | 95 | 95 | 23 | — | ||||||||||
Total Personal Banking | 4,720,232 | 10,349 | 10,349 | 1,257 | — | ||||||||||
Commercial Banking: | |||||||||||||||
Commercial real estate loans | 2,370,814 | 28,072 | 25,223 | 3,028 | 2,849 | ||||||||||
Commercial loans | 587,013 | 9,658 | 9,150 | 1,530 | 508 | ||||||||||
Total Commercial Banking | 2,957,827 | 37,730 | 34,373 | 4,558 | 3,357 | ||||||||||
Total | $ | 7,678,059 | 48,079 | 44,722 | 5,815 | 3,357 |
Loans collectively evaluated for impairment | Loans individually evaluated for impairment | Loans individually evaluated for impairment for which there is a related impairment reserve | Related impairment reserve | Loans individually evaluated for impairment for which there is no related reserve | |||||||||||
Personal Banking: | |||||||||||||||
Residential mortgage loans | $ | 2,689,886 | 8,280 | 8,280 | 709 | — | |||||||||
Home equity loans | 1,343,556 | 1,814 | 1,814 | 450 | — | ||||||||||
Consumer finance loans | 48,981 | — | — | — | — | ||||||||||
Consumer loans | 593,854 | 126 | 126 | 29 | — | ||||||||||
Total Personal Banking | 4,676,277 | 10,220 | 10,220 | 1,188 | — | ||||||||||
Commercial Banking: | |||||||||||||||
Commercial real estate loans | 2,309,186 | 32,903 | 27,594 | 3,545 | 5,309 | ||||||||||
Commercial loans | 518,449 | 10,312 | 10,242 | 1,390 | 70 | ||||||||||
Total Commercial Banking | 2,827,635 | 43,215 | 37,836 | 4,935 | 5,379 | ||||||||||
Total | $ | 7,503,912 | 53,435 | 48,056 | 6,123 | 5,379 |
For the quarter ended June 30, | |||||||||||||||||||||||
2022 | 2021 | ||||||||||||||||||||||
Number of contracts | Amount | Number of contracts | Amount | ||||||||||||||||||||
Beginning TDR balance: | 130 | $ | 28,701 | 164 | $ | 27,510 | |||||||||||||||||
New TDRs | 2 | 26,115 | 2 | 2,295 | |||||||||||||||||||
Re-modified TDRs | 5 | 6,403 | 1 | 344 | |||||||||||||||||||
Net paydowns | — | (479) | — | (1,610) | |||||||||||||||||||
Paid-off loans: | |||||||||||||||||||||||
Residential mortgage loans | — | — | 4 | (726) | |||||||||||||||||||
Home equity loans | 1 | (13) | 1 | (11) | |||||||||||||||||||
Commercial real estate loans | 2 | (80) | 2 | (302) | |||||||||||||||||||
Commercial loans | 1 | (7) | 1 | (69) | |||||||||||||||||||
Ending TDR balance: | 128 | $ | 54,237 | 158 | $ | 27,431 | |||||||||||||||||
Accruing TDRs | $ | 16,590 | $ | 18,480 | |||||||||||||||||||
Nonaccrual TDRs | 37,647 | 8,951 |
For the quarters ended September 30, | |||||||||||||
2017 | 2016 | ||||||||||||
Number of contracts | Amount | Number of contracts | Amount | ||||||||||
Beginning TDR balance: | 203 | $ | 41,860 | 230 | $ | 49,113 | |||||||
New TDRs | 6 | 546 | 5 | 245 | |||||||||
Re-modified TDRs | 2 | 265 | 1 | 799 | |||||||||
Net paydowns | (987 | ) | (1,781 | ) | |||||||||
Charge-offs: | |||||||||||||
Residential mortgage loans | — | — | — | — | |||||||||
Home equity loans | — | — | — | — | |||||||||
Commercial real estate loans | 2 | (2,498 | ) | — | — | ||||||||
Commercial loans | — | — | 1 | (99 | ) | ||||||||
Paid-off loans: | |||||||||||||
Residential mortgage loans | — | — | 3 | (143 | ) | ||||||||
Home equity loans | 3 | (30 | ) | 2 | (264 | ) | |||||||
Commercial real estate loans | 1 | (564 | ) | 8 | (1,022 | ) | |||||||
Commercial loans | 2 | (123 | ) | 3 | (253 | ) | |||||||
Ending TDR balance: | 201 | $ | 38,469 | 218 | $ | 46,595 | |||||||
Accruing TDRs | $ | 20,660 | $ | 29,221 | |||||||||
Non-accrual TDRs | 17,809 | 17,374 |
For the six months ended June 30, | |||||||||||||||||||||||
2022 | 2021 | ||||||||||||||||||||||
Number of contracts | Amount | Number of contracts | Amount | ||||||||||||||||||||
Beginning TDR balance: | 134 | $ | 30,288 | 170 | $ | 32,135 | |||||||||||||||||
New TDRs | 2 | 26,115 | 2 | 2,295 | |||||||||||||||||||
Re-modified TDRs | 6 | 6,603 | 5 | 1,241 | |||||||||||||||||||
Net paydowns | — | (1,509) | — | (4,073) | |||||||||||||||||||
Charge-offs: | |||||||||||||||||||||||
Residential mortgage loans | 1 | (3) | — | — | |||||||||||||||||||
Paid-off loans: | |||||||||||||||||||||||
Residential mortgage loans | 1 | (201) | 4 | (726) | |||||||||||||||||||
Home equity loans | 2 | (77) | 1 | (11) | |||||||||||||||||||
Commercial real estate loans | 3 | (369) | 5 | (2,686) | |||||||||||||||||||
Commercial real estate loans - owner occupied | — | — | 1 | (47) | |||||||||||||||||||
Commercial loans | 1 | (7) | 3 | (697) | |||||||||||||||||||
Ending TDR balance: | 128 | $ | 54,237 | 158 | $ | 27,431 | |||||||||||||||||
Accruing TDRs | $ | 16,590 | $ | 18,480 | |||||||||||||||||||
Nonaccrual TDRs | 37,647 | 8,951 |
For the nine months ended September 30, | |||||||||||||
2017 | 2016 | ||||||||||||
Number of contracts | Amount | Number of contracts | Amount | ||||||||||
Beginning TDR balance: | 225 | $ | 42,926 | 227 | $ | 51,115 | |||||||
New TDRs | 13 | 4,685 | 23 | 5,256 | |||||||||
Re-modified TDRs | 3 | 710 | 5 | 1,862 | |||||||||
Net paydowns | (3,668 | ) | (4,685 | ) | |||||||||
Charge-offs: | |||||||||||||
Residential mortgage loans | — | — | — | — | |||||||||
Home equity loans | — | — | — | — | |||||||||
Commercial real estate loans | 2 | (2,498 | ) | — | — | ||||||||
Commercial loans | 6 | (259 | ) | 2 | (142 | ) | |||||||
Paid-off loans: | |||||||||||||
Residential mortgage loans | — | — | 3 | (143 | ) | ||||||||
Home equity loans | 8 | (62 | ) | 5 | (496 | ) | |||||||
Commercial real estate loans | 11 | (1,109 | ) | 16 | (5,584 | ) | |||||||
Commercial loans | 10 | (2,256 | ) | 6 | (588 | ) | |||||||
Ending TDR balance: | 201 | $ | 38,469 | 218 | $ | 46,595 | |||||||
Accruing TDRs | $ | 20,660 | $ | 29,221 | |||||||||
Non-accrual TDRs | 17,809 | 17,374 |
For the quarter ended June 30, 2022 | For the six months ended June 30, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||
Number of contracts | Recorded investment at the time of modification | Current recorded investment | Current allowance | Number of contracts | Recorded investment at the time of modification | Current recorded investment | Current allowance | ||||||||||||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | 3 | $ | 58,042 | 29,292 | 1,122 | 4 | $ | 58,372 | 29,492 | 1,133 | |||||||||||||||||||||||||||||||||||||
Commercial loans | 4 | 3,524 | 3,226 | 410 | 4 | 3,524 | 3,226 | 411 | |||||||||||||||||||||||||||||||||||||||
Total Commercial Banking | 7 | 61,566 | 32,518 | 1,532 | 8 | 61,896 | 32,718 | 1,544 | |||||||||||||||||||||||||||||||||||||||
Total | 7 | $ | 61,566 | 32,518 | 1,532 | 8 | $ | 61,896 | 32,718 | 1,544 | |||||||||||||||||||||||||||||||||||||
For the quarter ended June 30, 2021 | For the six months ended June 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
For the quarter ended September 30, 2017 | For the nine months ended September 30, 2017 | Number of contracts | Recorded investment at the time of modification | Current recorded investment | Current allowance | Number of contracts | Recorded investment at the time of modification | Current recorded investment | Current allowance | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of contracts | Recorded investment at the time of modification | Current recorded investment | Current allowance | Number of contracts | Recorded investment at the time of modification | Current recorded investment | Current allowance | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Troubled debt restructurings: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Personal Banking: | Personal Banking: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | 2 | $ | 403 | 402 | 40 | 5 | $ | 1,297 | 1,276 | 128 | Residential mortgage loans | — | $ | — | — | — | 1 | $ | 121 | 116 | 10 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity loans | 2 | 122 | 119 | 30 | 2 | 122 | 119 | 30 | Home equity loans | — | — | — | — | 1 | 3 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Personal Banking | 4 | 525 | 521 | 70 | 7 | 1,419 | 1,395 | 158 | Total Personal Banking | — | — | — | — | 2 | 124 | 116 | 10 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Banking: | Commercial Banking: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | 2 | 114 | 116 | 13 | 6 | 3,600 | 3,282 | 285 | Commercial real estate loans | 1 | 725 | 343 | 34 | 3 | 1,537 | 1,125 | 148 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | 2 | 172 | 170 | 71 | 3 | 376 | 352 | 84 | Commercial loans | 2 | 2,396 | 2,295 | — | 2 | 2,396 | 2,295 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial Banking | 4 | 286 | 286 | 84 | 9 | 3,976 | 3,634 | 369 | Total Commercial Banking | 3 | 3,121 | 2,638 | 34 | 5 | 3,933 | 3,420 | 148 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | 8 | $ | 811 | 807 | 154 | 16 | $ | 5,395 | 5,029 | 527 | Total | 3 | $ | 3,121 | 2,638 | 34 | 7 | $ | 4,057 | 3,536 | 158 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Troubled debt restructurings modified within the previous twelve months that have subsequently defaulted: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Personal Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | — | $ | — | — | — | — | $ | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity loans | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Personal Banking | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Banking | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | 1 | 90 | 90 | 11 | 1 | 90 | 90 | 11 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | 1 | 150 | 150 | 70 | 1 | 150 | 150 | 70 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial Banking | 2 | 240 | 240 | 81 | 2 | 240 | 240 | 81 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | 2 | $ | 240 | 240 | 81 | 2 | $ | 240 | 240 | 81 |
For the quarter ended September 30, 2016 | For the nine months ended September 30, 2016 | ||||||||||||||||||||||||
Number of contracts | Recorded investment at the time of modification | Current recorded investment | Current allowance | Number of contracts | Recorded investment at the time of modification | Current recorded investment | Current allowance | ||||||||||||||||||
Troubled debt restructurings: | |||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||
Residential mortgage loans | 1 | $ | 9 | 8 | 1 | 6 | $ | 1,041 | 1,031 | 105 | |||||||||||||||
Home equity loans | 1 | 3 | 3 | 1 | 6 | 284 | 281 | 60 | |||||||||||||||||
Total Personal Banking | 2 | 12 | 11 | 2 | 12 | 1,325 | 1,312 | 165 | |||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||
Commercial real estate loans | 1 | 154 | 153 | 11 | 5 | 2,250 | 2,218 | 295 | |||||||||||||||||
Commercial loans | 3 | 878 | 877 | 64 | 11 | 3,543 | 2,591 | 632 | |||||||||||||||||
Total Commercial Banking | 4 | 1,032 | 1,030 | 75 | 16 | 5,793 | 4,809 | 927 | |||||||||||||||||
Total | 6 | $ | 1,044 | 1,041 | 77 | 28 | $ | 7,118 | 6,121 | 1,092 | |||||||||||||||
Troubled debt restructurings modified within the previous twelve months that have subsequently defaulted: | |||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||
Residential mortgage loans | — | $ | — | — | — | — | $ | — | — | — | |||||||||||||||
Home equity loans | — | — | — | — | — | — | — | — | |||||||||||||||||
Total Personal Banking | — | — | — | — | — | — | — | — | |||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||
Commercial real estate loans | 1 | 6,256 | 6,113 | 893 | 1 | 6,256 | 6,113 | 893 | |||||||||||||||||
Commercial loans | — | — | — | — | — | — | — | — | |||||||||||||||||
Total Commercial Banking | 1 | 6,256 | 6,113 | 893 | 1 | 6,256 | 6,113 | 893 | |||||||||||||||||
Total | 1 | $ | 6,256 | 6,113 | 893 | 1 | $ | 6,256 | 6,113 | 893 |
Type of modification | |||||||||||||||||||||||||||||||||||
Number of contracts | Rate | Maturity date | Total | ||||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||
Commercial real estate loans | 3 | $ | 4,179 | 25,113 | 29,292 | ||||||||||||||||||||||||||||||
Commercial loans | 4 | — | 3,226 | 3,226 | |||||||||||||||||||||||||||||||
Total Commercial Banking | 7 | 4,179 | 28,339 | 32,518 | |||||||||||||||||||||||||||||||
Total | 7 | $ | 4,179 | 28,339 | 32,518 |
Type of modification | ||||||||||||||||||
Number of contracts | Rate | Payment | Maturity date | Other | Total | |||||||||||||
Personal Banking: | ||||||||||||||||||
Residential mortgage loans | 2 | $ | 250 | — | — | 152 | 402 | |||||||||||
Home equity loans | 2 | 119 | — | — | — | 119 | ||||||||||||
Total Personal Banking | 4 | 369 | — | — | 152 | 521 | ||||||||||||
Commercial Banking: | ||||||||||||||||||
Commercial real estate loans | 2 | — | — | 116 | — | 116 | ||||||||||||
Commercial loans | 2 | — | — | 170 | — | 170 | ||||||||||||
Total Commercial Banking | 4 | — | — | 286 | — | 286 | ||||||||||||
Total | 8 | $ | 369 | — | 286 | 152 | 807 |
Type of modification | |||||||||||||||||||||||||||||||||||
Number of contracts | Rate | Maturity date | Total | ||||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||
Commercial real estate loans | 1 | $ | — | 343 | 343 | ||||||||||||||||||||||||||||||
Commercial loans | 2 | — | 2,295 | 2,295 | |||||||||||||||||||||||||||||||
Total Commercial Banking | 3 | — | 2,638 | 2,638 | |||||||||||||||||||||||||||||||
Total | 3 | $ | — | 2,638 | 2,638 |
Type of modification | ||||||||||||||||||
Number of contracts | Rate | Payment | Maturity date | Other | Total | |||||||||||||
Personal Banking: | ||||||||||||||||||
Residential mortgage loans | 1 | $ | — | — | 8 | — | 8 | |||||||||||
Home equity loans | 1 | — | — | 3 | — | 3 | ||||||||||||
Total Personal Banking | 2 | — | — | 11 | — | 11 | ||||||||||||
Commercial Banking: | ||||||||||||||||||
Commercial real estate loans | 1 | — | — | 153 | — | 153 | ||||||||||||
Commercial loans | 3 | — | 799 | 78 | — | 877 | ||||||||||||
Total Commercial Banking | 4 | — | 799 | 231 | — | 1,030 | ||||||||||||
Total | 6 | $ | — | 799 | 242 | — | 1,041 |
Type of modification | |||||||||||||||||||||||||||||||||||
Number of contracts | Rate | Maturity date | Total | ||||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||
Commercial real estate loans | 4 | $ | 4,179 | 25,313 | 29,492 | ||||||||||||||||||||||||||||||
Commercial loans | 4 | — | 3,226 | 3,226 | |||||||||||||||||||||||||||||||
Total Commercial Banking | 8 | 4,179 | 28,539 | 32,718 | |||||||||||||||||||||||||||||||
Total | 8 | $ | 4,179 | 28,539 | 32,718 |
Type of modification | ||||||||||||||||||
Number of contracts | Rate | Payment | Maturity date | Other | Total | |||||||||||||
Personal Banking: | ||||||||||||||||||
Residential mortgage loans | 5 | $ | 360 | — | — | 916 | 1,276 | |||||||||||
Home equity loans | 2 | 119 | — | — | — | 119 | ||||||||||||
Total Personal Banking | 7 | 479 | — | — | 916 | 1,395 | ||||||||||||
Commercial Banking: | ||||||||||||||||||
Commercial real estate loans | 6 | — | 2,710 | 572 | — | 3,282 | ||||||||||||
Commercial loans | 3 | — | — | 352 | — | 352 | ||||||||||||
Total Commercial Banking | 9 | — | 2,710 | 924 | — | 3,634 | ||||||||||||
Total | 16 | $ | 479 | 2,710 | 924 | 916 | 5,029 |
Type of modification | Type of modification | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of contracts | Rate | Payment | Maturity date | Other | Total | Number of contracts | Rate | Maturity date | Other | Total | |||||||||||||||||||||||||||||||||||||||||||
Personal Banking: | Personal Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | 6 | $ | 361 | — | 622 | 48 | 1,031 | Residential mortgage loans | 1 | $ | 116 | — | — | 116 | |||||||||||||||||||||||||||||||||||||||
Home equity loans | 6 | 121 | — | 3 | 157 | 281 | Home equity loans | 1 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||
Total Personal Banking | 12 | 482 | — | 625 | 205 | 1,312 | Total Personal Banking | 2 | 116 | — | — | 116 | |||||||||||||||||||||||||||||||||||||||||
Commercial Banking: | Commercial Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | 5 | — | 429 | 535 | 1,254 | 2,218 | Commercial real estate loans | 3 | — | 1,052 | 73 | 1,125 | |||||||||||||||||||||||||||||||||||||||||
Commercial loans | 11 | — | 799 | 1,042 | 750 | 2,591 | Commercial loans | 2 | — | 2,295 | — | 2,295 | |||||||||||||||||||||||||||||||||||||||||
Total Commercial Banking | 16 | — | 1,228 | 1,577 | 2,004 | 4,809 | Total Commercial Banking | 5 | — | 3,347 | 73 | 3,420 | |||||||||||||||||||||||||||||||||||||||||
Total | 28 | $ | 482 | 1,228 | 2,202 | 2,209 | 6,121 | Total | 7 | $ | 116 | 3,347 | 73 | 3,536 |
Type of re-modification | ||||||||||||||||||
Number of re-modified TDRs | Rate | Payment | Maturity date | Other | Total | |||||||||||||
Personal Banking: | ||||||||||||||||||
Residential mortgage loans | 1 | $ | 250 | — | — | — | 250 | |||||||||||
Home equity loans | 1 | 13 | — | — | — | 13 | ||||||||||||
Total Personal Banking | 2 | 263 | — | — | — | 263 | ||||||||||||
Commercial Banking: | ||||||||||||||||||
Commercial real estate loans | — | — | — | — | — | — | ||||||||||||
Commercial loans | — | — | — | — | — | — | ||||||||||||
Total Commercial Banking | — | — | — | — | — | — | ||||||||||||
Total | 2 | $ | 263 | — | — | — | 263 |
Type of re-modification | ||||||||||||||||||
Number of re-modified TDRs | Rate | Payment | Maturity date | Other | Total | |||||||||||||
Personal Banking: | ||||||||||||||||||
Residential mortgage loans | — | $ | — | — | — | — | — | |||||||||||
Home equity loans | — | — | — | — | — | — | ||||||||||||
Total Personal Banking | — | — | — | — | — | — | ||||||||||||
Commercial Banking: | ||||||||||||||||||
Commercial real estate loans | — | — | — | — | — | — | ||||||||||||
Commercial loans | 1 | — | 799 | — | — | 799 | ||||||||||||
Total Commercial Banking | 1 | — | 799 | — | — | 799 | ||||||||||||
Total | 1 | $ | — | 799 | — | — | 799 |
Number of contracts | Recorded investment at the time of modification | Current recorded investment | Current allowance | |||||||||||||||||||||||
Commercial Banking: | ||||||||||||||||||||||||||
Commercial real estate loans | 1 | $ | 4,167 | 3,823 | — | |||||||||||||||||||||
Total Commercial Banking | 1 | 4,167 | 3,823 | — | ||||||||||||||||||||||
Total | 1 | $ | 4,167 | 3,823 | — |
Number of contracts | Recorded investment at the time of modification | Current recorded investment | Current allowance | |||||||||||||||||||||||
Commercial Banking: | ||||||||||||||||||||||||||
Commercial real estate loans | 1 | $ | 454 | 454 | 50 | |||||||||||||||||||||
Total Commercial Banking | 1 | 454 | 454 | 50 | ||||||||||||||||||||||
Total | 1 | $ | 454 | 454 | 50 |
Type of re-modification | ||||||||||||||||||
Number of re-modified TDRs | Rate | Payment | Maturity date | Other | Total | |||||||||||||
Personal Banking: | ||||||||||||||||||
Residential mortgage loans | 2 | $ | 250 | — | — | 430 | 680 | |||||||||||
Home equity loans | 1 | 13 | — | — | — | 13 | ||||||||||||
Total Personal Banking | 3 | 263 | — | — | 430 | 693 | ||||||||||||
Commercial Banking: | ||||||||||||||||||
Commercial real estate loans | — | — | — | — | — | — | ||||||||||||
Commercial loans | — | — | — | — | — | — | ||||||||||||
Total Commercial Banking | — | — | — | — | — | — | ||||||||||||
Total | 3 | $ | 263 | — | — | 430 | 693 |
30-59 days delinquent | 60-89 days delinquent | 90 days or greater delinquent | Total delinquency | Current | Total loans receivable | 90 days or greater delinquent and accruing | |||||||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | $ | 785 | 5,941 | 5,445 | 12,171 | 3,274,604 | 3,286,775 | — | |||||||||||||||||||||||||||||||||
Home equity loans | 3,664 | 952 | 2,081 | 6,697 | 1,273,795 | 1,280,492 | — | ||||||||||||||||||||||||||||||||||
Vehicle loans | 6,449 | 1,170 | 1,861 | 9,480 | 1,886,255 | 1,895,735 | — | ||||||||||||||||||||||||||||||||||
Consumer loans | 449 | 290 | 460 | 1,199 | 105,611 | 106,810 | 379 | ||||||||||||||||||||||||||||||||||
Total Personal Banking | 11,347 | 8,353 | 9,847 | 29,547 | 6,540,265 | 6,569,812 | 379 | ||||||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | 2,581 | 1,350 | 14,823 | 18,754 | 2,467,220 | 2,485,974 | — | ||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 120 | 122 | 126 | 368 | 389,834 | 390,202 | — | ||||||||||||||||||||||||||||||||||
Commercial loans | 1,486 | 341 | 583 | 2,410 | 984,426 | 986,836 | — | ||||||||||||||||||||||||||||||||||
Total Commercial Banking | 4,187 | 1,813 | 15,532 | 21,532 | 3,841,480 | 3,863,012 | — | ||||||||||||||||||||||||||||||||||
Total loans | $ | 15,534 | 10,166 | 25,379 | 51,079 | 10,381,745 | 10,432,824 | 379 |
Type of re-modification | ||||||||||||||||||
Number of re-modified TDRs | Rate | Payment | Maturity date | Other | Total | |||||||||||||
Personal Banking: | ||||||||||||||||||
Residential mortgage loans | — | $ | — | — | — | — | — | |||||||||||
Home equity loans | — | — | — | — | — | — | ||||||||||||
Total Personal Banking | — | — | — | — | — | — | ||||||||||||
Commercial Banking: | ||||||||||||||||||
Commercial real estate loans | 1 | — | — | — | 182 | 182 | ||||||||||||
Commercial loans | 4 | — | 1,662 | — | — | 1,662 | ||||||||||||
Total Commercial Banking | 5 | — | 1,662 | — | 182 | 1,844 | ||||||||||||
Total | 5 | $ | — | 1,662 | — | 182 | 1,844 |
30-59 Days delinquent | 60-89 Days delinquent | 90 Days or greater delinquent | Total delinquency | Current | Total loans receivable | 90 Days or greater delinquent and accruing (1) | |||||||||||||||
Originated loans: | |||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||
Residential mortgage loans | $ | 2,771 | 6,133 | 11,315 | 20,219 | 2,603,544 | 2,623,763 | — | |||||||||||||
Home equity loans | 6,636 | 2,219 | 5,158 | 14,013 | 1,031,139 | 1,045,152 | — | ||||||||||||||
Consumer finance loans | 3,065 | 2,190 | 332 | 5,587 | 21,305 | 26,892 | — | ||||||||||||||
Consumer loans | 8,248 | 2,963 | 2,939 | 14,150 | 520,468 | 534,618 | — | ||||||||||||||
Total Personal Banking | 20,720 | 13,505 | 19,744 | 53,969 | 4,176,456 | 4,230,425 | — | ||||||||||||||
Commercial Banking: | |||||||||||||||||||||
Commercial real estate loans | 3,586 | 7,290 | 18,069 | 28,945 | 2,060,438 | 2,089,383 | — | ||||||||||||||
Commercial loans | 271 | 2 | 3,288 | 3,561 | 524,670 | 528,231 | — | ||||||||||||||
Total Commercial Banking | 3,857 | 7,292 | 21,357 | 32,506 | 2,585,108 | 2,617,614 | — | ||||||||||||||
Total originated loans | 24,577 | 20,797 | 41,101 | 86,475 | 6,761,564 | 6,848,039 | — | ||||||||||||||
Acquired loans: | |||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||
Residential mortgage loans | — | 1,063 | 875 | 1,938 | 117,525 | 119,463 | 405 | ||||||||||||||
Home equity loans | 694 | 171 | 1,239 | 2,104 | 266,179 | 268,283 | 102 | ||||||||||||||
Consumer loans | 1,262 | 320 | 315 | 1,897 | 110,513 | 112,410 | 10 | ||||||||||||||
Total Personal Banking | 1,956 | 1,554 | 2,429 | 5,939 | 494,217 | 500,156 | 517 | ||||||||||||||
Commercial Banking: | |||||||||||||||||||||
Commercial real estate loans | 2,167 | 376 | 5,241 | 7,784 | 301,719 | 309,503 | 727 | ||||||||||||||
Commercial loans | 475 | 194 | 889 | 1,558 | 66,882 | 68,440 | — | ||||||||||||||
Total Commercial Banking | 2,642 | 570 | 6,130 | 9,342 | 368,601 | 377,943 | 727 | ||||||||||||||
Total acquired loans | 4,598 | 2,124 | 8,559 | 15,281 | 862,818 | 878,099 | 1,244 | ||||||||||||||
Total loans | $ | 29,175 | 22,921 | 49,660 | 101,756 | 7,624,382 | 7,726,138 | 1,244 |
30-59 days delinquent | 60-89 days delinquent | 90 days or greater delinquent | Total delinquency | Current | Total loans receivable | 90 days or greater delinquent and accruing | |||||||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | $ | 20,567 | 5,433 | 7,641 | 33,641 | 2,960,979 | 2,994,620 | — | |||||||||||||||||||||||||||||||||
Home equity loans | 3,153 | 949 | 4,262 | 8,364 | 1,311,567 | 1,319,931 | — | ||||||||||||||||||||||||||||||||||
Vehicle loans | 5,331 | 1,487 | 1,635 | 8,453 | 1,475,778 | 1,484,231 | — | ||||||||||||||||||||||||||||||||||
Consumer loans | 1,205 | 519 | 765 | 2,489 | 352,028 | 354,517 | 331 | ||||||||||||||||||||||||||||||||||
Total Personal Banking | 30,256 | 8,388 | 14,303 | 52,947 | 6,100,352 | 6,153,299 | 331 | ||||||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | 16,938 | 699 | 23,489 | 41,126 | 2,584,355 | 2,625,481 | — | ||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 127 | 70 | 574 | 771 | 389,232 | 390,003 | — | ||||||||||||||||||||||||||||||||||
Commercial loans | 193 | 727 | 1,105 | 2,025 | 845,584 | 847,609 | — | ||||||||||||||||||||||||||||||||||
Total Commercial Banking | 17,258 | 1,496 | 25,168 | 43,922 | 3,819,171 | 3,863,093 | — | ||||||||||||||||||||||||||||||||||
Total originated loans | $ | 47,514 | 9,884 | 39,471 | 96,869 | 9,919,523 | 10,016,392 | 331 |
30-59 Days delinquent | 60-89 Days delinquent | 90 Days or greater delinquent | Total delinquency | Current | Total loans receivable | 90 Days or greater delinquent and accruing (1) | |||||||||||||||
Originated loans: | |||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||
Residential mortgage loans | $ | 26,212 | 5,806 | 12,792 | 44,810 | 2,536,443 | 2,564,655 | — | |||||||||||||
Home equity loans | 5,785 | 1,305 | 4,783 | 11,873 | 1,014,442 | 1,042,913 | — | ||||||||||||||
Consumer finance loans | 1,255 | 766 | 743 | 2,764 | 46,217 | 48,981 | — | ||||||||||||||
Consumer loans | 7,343 | 2,438 | 2,775 | 12,556 | 415,508 | 428,064 | — | ||||||||||||||
Total Personal Banking | 40,595 | 10,315 | 21,093 | 72,003 | 4,012,610 | 4,084,613 | — | ||||||||||||||
Commercial Banking: | |||||||||||||||||||||
Commercial real estate loans | 7,674 | 3,674 | 16,508 | 27,856 | 1,944,227 | 1,972,083 | — | ||||||||||||||
Commercial loans | 1,067 | 1,957 | 3,107 | 6,131 | 449,244 | 455,375 | — | ||||||||||||||
Total Commercial Banking | 8,741 | 5,631 | 19,615 | 33,987 | 2,393,471 | 2,427,458 | — | ||||||||||||||
Total originated loan | 49,336 | 15,946 | 40,708 | 105,990 | 6,406,081 | 6,512,071 | — | ||||||||||||||
Acquired loans: | |||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||
Residential mortgage loans | 1,174 | 421 | 829 | 2,424 | 131,087 | 133,511 | 452 | ||||||||||||||
Home equity loans | 1,020 | 258 | 973 | 2,251 | 300,206 | 302,457 | 204 | ||||||||||||||
Consumer loans | 1,270 | 405 | 320 | 1,995 | 163,921 | 165,916 | 15 | ||||||||||||||
Total Personal Banking | 3,464 | 1,084 | 2,122 | 6,670 | 595,214 | 601,884 | 671 | ||||||||||||||
Commercial Banking: | |||||||||||||||||||||
Commercial real estate loans | 2,703 | 821 | 4,762 | 8,286 | 361,720 | 370,006 | 2,006 | ||||||||||||||
Commercial loans | 111 | 124 | 413 | 648 | 72,738 | 73,386 | 147 | ||||||||||||||
Total Commercial Banking | 2,814 | 945 | 5,175 | 8,934 | 434,458 | 443,392 | 2,153 | ||||||||||||||
Total acquired loan | 6,278 | 2,029 | 7,297 | 15,604 | 1,029,672 | 1,045,276 | 2,824 | ||||||||||||||
Total | $ | 55,614 | 17,975 | 48,005 | 121,594 | 7,435,753 | 7,557,347 | 2,824 |
YTD June 30, 2022 | 2021 | 2020 | 2019 | 2018 | Prior | Revolving loans | Revolving loans converted to term loans | Total loans receivable | |||||||||||||||||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 290,471 | 843,802 | 572,648 | 278,086 | 141,007 | 1,147,103 | — | — | 3,273,117 | |||||||||||||||||||||||||||||||||||||||||||
Substandard | — | 106 | 710 | 258 | 417 | 12,167 | — | — | 13,658 | ||||||||||||||||||||||||||||||||||||||||||||
Total residential mortgage loans | 290,471 | 843,908 | 573,358 | 278,344 | 141,424 | 1,159,270 | — | — | 3,286,775 | ||||||||||||||||||||||||||||||||||||||||||||
Home equity loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 62,500 | 138,755 | 187,786 | 121,932 | 56,161 | 231,691 | 435,304 | 40,995 | 1,275,124 | ||||||||||||||||||||||||||||||||||||||||||||
Substandard | — | 48 | — | 378 | 345 | 2,889 | 845 | 863 | 5,368 | ||||||||||||||||||||||||||||||||||||||||||||
Total home equity loans | 62,500 | 138,803 | 187,786 | 122,310 | 56,506 | 234,580 | 436,149 | 41,858 | 1,280,492 | ||||||||||||||||||||||||||||||||||||||||||||
Vehicle loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 527,150 | 742,059 | 288,651 | 181,929 | 97,160 | 55,620 | — | — | 1,892,569 | ||||||||||||||||||||||||||||||||||||||||||||
Substandard | 83 | 964 | 402 | 764 | 578 | 375 | — | — | 3,166 | ||||||||||||||||||||||||||||||||||||||||||||
Total vehicle loans | 527,233 | 743,023 | 289,053 | 182,693 | 97,738 | 55,995 | — | — | 1,895,735 | ||||||||||||||||||||||||||||||||||||||||||||
Consumer loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 9,391 | 12,822 | 5,966 | 5,235 | 3,613 | 6,244 | 61,662 | 1,361 | 106,294 | ||||||||||||||||||||||||||||||||||||||||||||
Substandard | — | 27 | — | 10 | 5 | 61 | 412 | 1 | 516 | ||||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 9,391 | 12,849 | 5,966 | 5,245 | 3,618 | 6,305 | 62,074 | 1,362 | 106,810 | ||||||||||||||||||||||||||||||||||||||||||||
Total Personal Banking | 889,595 | 1,738,583 | 1,056,163 | 588,592 | 299,286 | 1,456,150 | 498,223 | 43,220 | 6,569,812 | ||||||||||||||||||||||||||||||||||||||||||||
Business Banking: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 124,555 | 344,825 | 415,474 | 297,289 | 235,348 | 798,170 | 28,902 | 9,104 | 2,253,667 | ||||||||||||||||||||||||||||||||||||||||||||
Special mention | — | 798 | 1,466 | 20,818 | 1,077 | 6,863 | 988 | 15 | 32,025 | ||||||||||||||||||||||||||||||||||||||||||||
Substandard | — | 96 | 7,117 | 28,401 | 43,407 | 116,480 | 564 | 4,217 | 200,282 | ||||||||||||||||||||||||||||||||||||||||||||
Total commercial real estate loans | 124,555 | 345,719 | 424,057 | 346,508 | 279,832 | 921,513 | 30,454 | 13,336 | 2,485,974 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 41,726 | 63,126 | 18,245 | 39,001 | 47,377 | 132,060 | 3,233 | 1,772 | 346,540 | ||||||||||||||||||||||||||||||||||||||||||||
Special mention | — | — | — | 15,067 | 3,698 | 689 | 61 | — | 19,515 | ||||||||||||||||||||||||||||||||||||||||||||
Substandard | — | — | — | 5,360 | 1,934 | 14,747 | — | 2,106 | 24,147 | ||||||||||||||||||||||||||||||||||||||||||||
Total commercial real estate loans - owner occupied | 41,726 | 63,126 | 18,245 | 59,428 | 53,009 | 147,496 | 3,294 | 3,878 | 390,202 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 335,778 | 127,282 | 63,945 | 54,761 | 21,293 | 57,692 | 288,640 | 4,738 | 954,129 | ||||||||||||||||||||||||||||||||||||||||||||
Special mention | 153 | 155 | 283 | 486 | 47 | — | 1,344 | — | 2,468 | ||||||||||||||||||||||||||||||||||||||||||||
Substandard | 569 | 306 | 896 | 3,309 | 2,596 | 1,881 | 11,060 | 9,622 | 30,239 | ||||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | 336,500 | 127,743 | 65,124 | 58,556 | 23,936 | 59,573 | 301,044 | 14,360 | 986,836 | ||||||||||||||||||||||||||||||||||||||||||||
Total Business Banking | 502,781 | 536,588 | 507,426 | 464,492 | 356,777 | 1,128,582 | 334,792 | 31,574 | 3,863,012 | ||||||||||||||||||||||||||||||||||||||||||||
Total loans | $ | 1,392,376 | 2,275,171 | 1,563,589 | 1,053,084 | 656,063 | 2,584,732 | 833,015 | 74,794 | 10,432,824 |
2021 | 2020 | 2019 | 2018 | 2017 | Prior | Revolving loans | Revolving loans converted to term loans | Total loans receivable | ||||||||||||||||||||||||||||||||||||||||||||||||
Personal Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 644,862 | 602,429 | 304,275 | 156,639 | 171,240 | 1,098,635 | — | — | 2,978,080 | ||||||||||||||||||||||||||||||||||||||||||||||
Substandard | 138 | 489 | 377 | 538 | 882 | 14,116 | — | — | 16,540 | |||||||||||||||||||||||||||||||||||||||||||||||
Total residential mortgage loans | 645,000 | 602,918 | 304,652 | 157,177 | 172,122 | 1,112,751 | — | — | 2,994,620 | |||||||||||||||||||||||||||||||||||||||||||||||
Home equity loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 150,847 | 210,224 | 138,661 | 65,011 | 61,692 | 209,959 | 435,660 | 40,766 | 1,312,820 | |||||||||||||||||||||||||||||||||||||||||||||||
Substandard | — | — | 441 | 60 | 455 | 3,820 | 1,275 | 1,060 | 7,111 | |||||||||||||||||||||||||||||||||||||||||||||||
Total home equity loans | 150,847 | 210,224 | 139,102 | 65,071 | 62,147 | 213,779 | 436,935 | 41,826 | 1,319,931 | |||||||||||||||||||||||||||||||||||||||||||||||
Vehicle loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 801,084 | 292,804 | 205,653 | 119,304 | 34,546 | 27,576 | — | — | 1,480,967 | |||||||||||||||||||||||||||||||||||||||||||||||
Substandard | 387 | 365 | 1,141 | 745 | 379 | 247 | — | — | 3,264 | |||||||||||||||||||||||||||||||||||||||||||||||
Total vehicle loans | 801,471 | 293,169 | 206,794 | 120,049 | 34,925 | 27,823 | — | — | 1,484,231 | |||||||||||||||||||||||||||||||||||||||||||||||
Consumer loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 117,856 | 81,266 | 47,195 | 20,595 | 9,794 | 12,202 | 63,025 | 1,578 | 353,511 | |||||||||||||||||||||||||||||||||||||||||||||||
Substandard | 213 | 161 | 105 | 64 | 26 | 50 | 357 | 30 | 1,006 | |||||||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 118,069 | 81,427 | 47,300 | 20,659 | 9,820 | 12,252 | 63,382 | 1,608 | 354,517 | |||||||||||||||||||||||||||||||||||||||||||||||
Total Personal Banking | 1,715,387 | 1,187,738 | 697,848 | 362,956 | 279,014 | 1,366,605 | 500,317 | 43,434 | 6,153,299 | |||||||||||||||||||||||||||||||||||||||||||||||
Business Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 306,689 | 433,219 | 335,541 | 263,524 | 221,450 | 683,537 | 26,288 | 10,179 | 2,280,427 | |||||||||||||||||||||||||||||||||||||||||||||||
Special mention | 803 | 1,808 | 52,513 | 3,296 | 1,394 | 8,529 | 729 | 23 | 69,095 | |||||||||||||||||||||||||||||||||||||||||||||||
Substandard | — | 34,153 | 44,712 | 46,045 | 56,077 | 89,311 | 492 | 5,169 | 275,959 | |||||||||||||||||||||||||||||||||||||||||||||||
Total commercial real estate loans | 307,492 | 469,180 | 432,766 | 312,865 | 278,921 | 781,377 | 27,509 | 15,371 | 2,625,481 | |||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate - owner occupied | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 69,084 | 19,452 | 51,997 | 60,824 | 57,676 | 94,687 | 2,822 | 2,707 | 359,249 | |||||||||||||||||||||||||||||||||||||||||||||||
Special mention | — | — | — | 769 | 1,959 | 1,444 | 856 | — | 5,028 | |||||||||||||||||||||||||||||||||||||||||||||||
Substandard | — | — | 3,575 | 2,887 | 7,840 | 10,602 | — | 822 | 25,726 | |||||||||||||||||||||||||||||||||||||||||||||||
Total commercial real estate - owner occupied loans | 69,084 | 19,452 | 55,572 | 64,480 | 67,475 | 106,733 | 3,678 | 3,529 | 390,003 | |||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 224,367 | 110,171 | 73,276 | 27,668 | 20,748 | 76,987 | 262,805 | 12,301 | 808,323 | |||||||||||||||||||||||||||||||||||||||||||||||
Special mention | 197 | 661 | 812 | 1,195 | 50 | 581 | 2,234 | — | 5,730 | |||||||||||||||||||||||||||||||||||||||||||||||
Substandard | 329 | 4,767 | 5,102 | 4,437 | 1,529 | 2,116 | 6,667 | 8,609 | 33,556 | |||||||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | 224,893 | 115,599 | 79,190 | 33,300 | 22,327 | 79,684 | 271,706 | 20,910 | 847,609 | |||||||||||||||||||||||||||||||||||||||||||||||
Total Business Banking | 601,469 | 604,231 | 567,528 | 410,645 | 368,723 | 967,794 | 302,893 | 39,810 | 3,863,093 | |||||||||||||||||||||||||||||||||||||||||||||||
Total loans | $ | 2,316,856 | 1,791,969 | 1,265,376 | 773,601 | 647,737 | 2,334,399 | 803,210 | 83,244 | 10,016,392 |
Pass | Special mention | Substandard | Doubtful | Loss | Total loans receivable | |||||||||||||
Originated loans: | ||||||||||||||||||
Personal Banking: | ||||||||||||||||||
Residential mortgage loans | $ | 2,607,925 | — | 15,838 | — | — | 2,623,763 | |||||||||||
Home equity loans | 1,037,567 | — | 7,585 | — | — | 1,045,152 | ||||||||||||
Consumer finance loans | 26,560 | — | 332 | — | — | 26,892 | ||||||||||||
Consumer loans | 531,310 | — | 3,308 | — | — | 534,618 | ||||||||||||
Total Personal Banking | 4,203,362 | — | 27,063 | — | — | 4,230,425 | ||||||||||||
Commercial Banking: | ||||||||||||||||||
Commercial real estate loans | 1,927,940 | 50,962 | 110,481 | — | — | 2,089,383 | ||||||||||||
Commercial loans | 467,664 | 15,204 | 45,363 | — | — | 528,231 | ||||||||||||
Total Commercial Banking | 2,395,604 | 66,166 | 155,844 | — | — | 2,617,614 | ||||||||||||
Total originated loans | 6,598,966 | 66,166 | 182,907 | — | — | 6,848,039 | ||||||||||||
Acquired loans: | ||||||||||||||||||
Personal Banking: | ||||||||||||||||||
Residential mortgage loans | 117,135 | — | 2,328 | — | — | 119,463 | ||||||||||||
Home equity loans | 264,469 | — | 3,814 | — | — | 268,283 | ||||||||||||
Consumer loans | 111,662 | — | 748 | — | — | 112,410 | ||||||||||||
Total Personal Banking | 493,266 | — | 6,890 | — | — | 500,156 | ||||||||||||
Commercial Banking: | ||||||||||||||||||
Commercial real estate loans | 268,570 | 5,156 | 35,777 | — | — | 309,503 | ||||||||||||
Commercial loans | 59,160 | 3,720 | 5,560 | — | — | 68,440 | ||||||||||||
Total Commercial Banking | 327,730 | 8,876 | 41,337 | — | — | 377,943 | ||||||||||||
Total acquired loans | 820,996 | 8,876 | 48,227 | — | — | 878,099 | ||||||||||||
Total loans | $ | 7,419,962 | 75,042 | 231,134 | — | — | 7,726,138 |
Pass | Special mention | Substandard | Doubtful | Loss | Total loans receivable | |||||||||||||
Originated loans: | ||||||||||||||||||
Personal Banking: | ||||||||||||||||||
Residential mortgage loans | $ | 2,548,390 | — | 16,265 | — | — | 2,564,655 | |||||||||||
Home equity loans | 1,035,496 | — | 7,417 | — | — | 1,042,913 | ||||||||||||
Consumer finance loans | 48,238 | — | 743 | — | — | 48,981 | ||||||||||||
Consumer loans | 425,712 | — | 2,352 | — | — | 428,064 | ||||||||||||
Total Personal Banking | 4,057,836 | — | 26,777 | — | — | 4,084,613 | ||||||||||||
Commercial Banking: | ||||||||||||||||||
Commercial real estate loans | 1,821,548 | 36,321 | 114,214 | — | — | 1,972,083 | ||||||||||||
Commercial loans | 401,866 | 15,203 | 38,306 | — | — | 455,375 | ||||||||||||
Total Commercial Banking | 2,223,414 | 51,524 | 152,520 | — | — | 2,427,458 | ||||||||||||
Total originated loans | 6,281,250 | 51,524 | 179,297 | — | — | 6,512,071 | ||||||||||||
Acquired loans: | ||||||||||||||||||
Personal Banking: | ||||||||||||||||||
Residential mortgage loans | 131,717 | — | 1,794 | — | — | 133,511 | ||||||||||||
Home equity loans | 300,100 | — | 2,357 | — | — | 302,457 | ||||||||||||
Consumer loans | 165,094 | — | 822 | — | — | 165,916 | ||||||||||||
Total Personal Banking | 596,911 | — | 4,973 | — | — | 601,884 | ||||||||||||
Commercial Banking: | ||||||||||||||||||
Commercial real estate loans | 331,780 | 7,403 | 30,823 | — | — | 370,006 | ||||||||||||
Commercial loans | 68,127 | 1,989 | 3,270 | — | — | 73,386 | ||||||||||||
Total Commercial Banking | 399,907 | 9,392 | 34,093 | — | — | 443,392 | ||||||||||||
Total acquired loans | 996,818 | 9,392 | 39,066 | — | — | 1,045,276 | ||||||||||||
Total | $ | 7,278,068 | 60,916 | 218,363 | — | — | 7,557,347 |
June 30, 2022 | December 31, 2021 | ||||||||||
Amortizable intangible assets: | |||||||||||
Core deposit intangibles - gross | $ | 74,899 | 74,899 | ||||||||
Less: accumulated amortization | (64,416) | (62,158) | |||||||||
Core deposit intangibles - net | $ | 10,483 | 12,741 | ||||||||
Customer and Contract intangible assets - gross | $ | 12,775 | 12,775 | ||||||||
Customer list intangible assets disposed of due to sale of insurance business | — | (1,547) | |||||||||
Less: accumulated amortization | (12,720) | (11,133) | |||||||||
Customer and Contract intangible assets - net | 55 | 95 | |||||||||
Total intangible assets - net | $ | 10,538 | 12,836 |
September 30, 2017 | December 31, 2016 | |||||
Amortizable intangible assets: | ||||||
Core deposit intangibles — gross | $ | 63,685 | 37,953 | |||
Acquisitions | — | 25,732 | ||||
Less: accumulated amortization | (38,725 | ) | (34,378 | ) | ||
Core deposit intangibles — net | 24,960 | 29,307 | ||||
Customer and Contract intangible assets — gross | 10,474 | 8,496 | ||||
Acquisitions | — | 1,978 | ||||
Less: accumulated amortization | (8,190 | ) | (7,348 | ) | ||
Customer and Contract intangible assets — net | $ | 2,284 | 3,126 |
For the quarter ended September 30, 2017 | $ | 1,691 | |
For the quarter ended September 30, 2016 | 1,068 | ||
For the nine months ended September 30, 2017 | 5,189 | ||
For the nine months ended September 30, 2016 | 2,453 | ||
For the year ending December 31, 2017 | 6,764 | ||
For the year ending December 31, 2018 | 5,848 | ||
For the year ending December 31, 2019 | 4,933 | ||
For the year ending December 31, 2020 | 4,017 | ||
For the year ending December 31, 2021 | 3,188 | ||
For the year ending December 31, 2022 | 2,456 |
For the quarter ended June 30, 2022 | $ | 1,115 | |||
For the quarter ended June 30, 2021 | 1,433 | ||||
For the six months ended June 30, 2022 | 2,298 | ||||
For the six months ended June 30, 2021 | 3,027 | ||||
For the year ending December 31, 2022 | 4,277 | ||||
For the year ending December 31, 2023 | 3,270 | ||||
For the year ending December 31, 2024 | 2,452 | ||||
For the year ending December 31, 2025 | 1,662 | ||||
For the year ending December 31, 2026 | 871 | ||||
For the year ending December 31, 2027 | 304 |
Total | |||||||||
Balance at December 31, | 382,279 | ||||||||
Goodwill disposed of due to sale of insurance business | (1,359) | ||||||||
Balance at December 31, | |||||||||
Balance at | 380,997 |
June 30, 2022 | December 31, 2021 | ||||||||||||||||||||||
Amount | Average rate | Amount | Average rate | ||||||||||||||||||||
Collateralized borrowings, due within one year | $ | 117,440 | 0.19 | % | $ | 139,093 | 0.19 | % | |||||||||||||||
Collateral received, due within one year | 13,050 | 1.58 | % | — | — | ||||||||||||||||||
Total borrowed funds | $ | 130,490 | $ | 139,093 |
Maturity date | Interest rate | Capital debt securities | June 30, 2022 | December 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||
Northwest Bancorp Capital Trust III | December 30, 2035 | 3-month LIBOR plus 1.38% | $ | 50,000 | $ | 51,547 | 51,547 | ||||||||||||||||||||||||||||||||||||||||
Northwest Bancorp Statutory Trust IV | December 15, 2035 | 3-month LIBOR plus 1.38% | 50,000 | 51,547 | 51,547 | ||||||||||||||||||||||||||||||||||||||||||
LNB Trust II | June 15, 2037 | 3-month LIBOR plus 1.48% | 7,875 | 8,119 | 8,119 | ||||||||||||||||||||||||||||||||||||||||||
UNCT I (1) | January 23, 2034 | 3-month LIBOR plus 2.85% | 8,000 | 7,962 | 7,950 | ||||||||||||||||||||||||||||||||||||||||||
UNCT II (1) | November 23, 2034 | 3-month LIBOR plus 2.00% | 3,000 | 2,755 | 2,741 | ||||||||||||||||||||||||||||||||||||||||||
MFBC Statutory Trust I (1) | September 15, 2035 | 3-month LIBOR plus 1.70% | 5,000 | 3,632 | 3,580 | ||||||||||||||||||||||||||||||||||||||||||
Universal Preferred Trust (1) | October 7, 2035 | 3-month LIBOR plus 1.69% | 5,000 | 3,622 | 3,570 | ||||||||||||||||||||||||||||||||||||||||||
$ | 129,184 | 129,054 |
Quarter ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
Net income | $ | 33,426 | 48,967 | 61,713 | 89,204 | ||||||||||||||||||
Less: Dividends and undistributed earnings allocated to participating securities | 159 | 340 | 294 | 619 | |||||||||||||||||||
Net income available to common shareholders | $ | 33,267 | 48,627 | 61,419 | 88,585 | ||||||||||||||||||
Weighted average common shares outstanding | 126,059,165 | 126,749,707 | 125,960,997 | 126,456,814 | |||||||||||||||||||
Add: Participating shares outstanding | 604,613 | 887,958 | 604,613 | 887,958 | |||||||||||||||||||
Total weighted average common shares and dilutive potential shares | 126,663,778 | 127,637,665 | 126,565,610 | 127,344,772 | |||||||||||||||||||
Basic earnings per share | $ | 0.26 | 0.38 | 0.49 | 0.70 | ||||||||||||||||||
Diluted earnings per share | $ | 0.26 | 0.38 | 0.49 | 0.70 |
Quarter ended September 30, | Nine months ended September 30, 2017 | |||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||
Reported net income | $ | 23,591 | 14,197 | 72,319 | 25,173 | |||||||
Weighted average common shares outstanding | 101,163,534 | 99,602,535 | 100,921,322 | 99,224,565 | ||||||||
Dilutive potential shares due to effect of stock options | 1,400,942 | 1,465,710 | 1,617,020 | 1,008,942 | ||||||||
Total weighted average common shares and dilutive potential shares | 102,564,476 | 101,068,245 | 102,538,342 | 100,233,507 | ||||||||
Basic earnings per share: | $ | 0.23 | 0.14 | 0.72 | 0.25 | |||||||
Diluted earnings per share: | $ | 0.23 | 0.14 | 0.71 | 0.25 |
Quarter ended June 30, | |||||||||||||||||||||||
Pension benefits | Other post-retirement benefits | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
Service cost | $ | 2,599 | 2,860 | — | — | ||||||||||||||||||
Interest cost | 1,671 | 1,518 | 10 | 5 | |||||||||||||||||||
Expected return on plan assets | (3,864) | (3,465) | — | — | |||||||||||||||||||
Amortization of prior service cost | (564) | (581) | — | — | |||||||||||||||||||
Amortization of the net loss | 381 | 1,040 | 2 | 3 | |||||||||||||||||||
Net periodic cost | $ | 223 | 1,372 | 12 | 8 |
Six months ended June 30, | ||||||||||||||||||||||||||
Pension benefits | Other post-retirement benefits | |||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||
Service cost | $ | 5,198 | 5,720 | — | — | |||||||||||||||||||||
Interest cost | 3,342 | 3,035 | 20 | 9 | ||||||||||||||||||||||
Expected return on plan assets | (7,728) | (6,930) | — | — | ||||||||||||||||||||||
Amortization of prior service cost | (1,128) | (1,161) | — | — | ||||||||||||||||||||||
Amortization of the net loss | 762 | 2,079 | 4 | 7 | ||||||||||||||||||||||
Net periodic cost | $ | 446 | 2,743 | 24 | 16 |
Quarter ended September 30, | ||||||||||||
Pension benefits | Other post-retirement benefits | |||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||
Service cost | $ | 1,537 | 1,374 | — | — | |||||||
Interest cost | 1,719 | 1,695 | 17 | 18 | ||||||||
Expected return on plan assets | (2,628 | ) | (2,474 | ) | — | — | ||||||
Amortization of prior service cost | (580 | ) | (581 | ) | — | — | ||||||
Amortization of the net loss | 928 | 927 | 27 | 22 | ||||||||
Net periodic cost | $ | 976 | 941 | 44 | 40 |
Nine Months Ended September 30, 2016 | ||||||||||||
Pension benefits | Other post-retirement benefits | |||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||
Service cost | $ | 4,612 | 4,122 | — | — | |||||||
Interest cost | 5,159 | 5,087 | 51 | 53 | ||||||||
Expected return on plan assets | (7,884 | ) | (7,423 | ) | — | — | ||||||
Amortization of prior service cost | (1,742 | ) | (1,742 | ) | — | — | ||||||
Amortization of the net loss | 2,783 | 2,782 | 81 | 67 | ||||||||
Net periodic cost | $ | 2,928 | 2,826 | 132 | 120 |
Carrying amount | Estimated fair value | Level 1 | Level 2 | Level 3 | Carrying amount | Estimated fair value | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||||||
Financial assets: | Financial assets: | |||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 165,676 | 165,676 | 165,676 | — | — | Cash and cash equivalents | $ | 504,532 | 504,532 | 504,532 | — | — | |||||||||||||||||||||||||||||||
Securities available-for-sale | 869,481 | 869,481 | 949 | 857,873 | 10,659 | Securities available-for-sale | 1,364,743 | 1,364,743 | — | 1,364,743 | — | |||||||||||||||||||||||||||||||||
Securities held-to-maturity | 31,961 | 32,282 | — | 32,282 | — | Securities held-to-maturity | 923,180 | 835,565 | — | 835,565 | — | |||||||||||||||||||||||||||||||||
Loans receivable, net | 7,669,211 | 7,746,906 | 1,382 | — | 7,745,524 | Loans receivable, net | 10,303,316 | 9,619,661 | — | — | 9,619,661 | |||||||||||||||||||||||||||||||||
Residential mortgage loans held-for-sale | Residential mortgage loans held-for-sale | 31,153 | 31,153 | — | — | 31,153 | ||||||||||||||||||||||||||||||||||||||
Accrued interest receivable | 22,802 | 22,802 | 22,802 | — | — | Accrued interest receivable | 27,708 | 27,708 | 27,708 | — | — | |||||||||||||||||||||||||||||||||
FHLB Stock | 7,984 | 7,984 | — | — | — | |||||||||||||||||||||||||||||||||||||||
Interest rate lock commitments | Interest rate lock commitments | 1,520 | 1,520 | — | — | 1,520 | ||||||||||||||||||||||||||||||||||||||
Forward commitments | Forward commitments | 213 | 213 | — | 213 | — | ||||||||||||||||||||||||||||||||||||||
Foreign exchange swaps | Foreign exchange swaps | 2 | 2 | — | 2 | — | ||||||||||||||||||||||||||||||||||||||
Interest rate swaps not designated as hedging instruments | Interest rate swaps not designated as hedging instruments | 31,018 | 31,018 | — | 31,018 | — | ||||||||||||||||||||||||||||||||||||||
FHLB stock | FHLB stock | 13,362 | 13,362 | — | — | — | ||||||||||||||||||||||||||||||||||||||
Total financial assets | $ | 8,767,115 | 8,845,131 | 190,809 | 890,155 | 7,756,183 | Total financial assets | $ | 13,200,747 | 12,429,477 | 532,240 | 2,231,541 | 9,652,334 | |||||||||||||||||||||||||||||||
Financial liabilities: | Financial liabilities: | |||||||||||||||||||||||||||||||||||||||||||
Savings and checking deposits | $ | 6,506,184 | 6,506,184 | 6,506,184 | — | — | Savings and checking deposits | $ | 10,911,377 | 10,911,377 | 10,911,377 | — | — | |||||||||||||||||||||||||||||||
Time deposits | 1,435,861 | 1,455,485 | — | — | 1,455,485 | Time deposits | 1,155,878 | 1,163,015 | — | — | 1,163,015 | |||||||||||||||||||||||||||||||||
Borrowed funds | 115,388 | 115,388 | 115,388 | — | — | Borrowed funds | 130,490 | 130,418 | 130,418 | — | — | |||||||||||||||||||||||||||||||||
Subordinated debt | Subordinated debt | 113,666 | 107,485 | — | 107,485 | — | ||||||||||||||||||||||||||||||||||||||
Junior subordinated debentures | 111,213 | 112,954 | — | — | 112,954 | Junior subordinated debentures | 129,184 | 114,729 | — | — | 114,729 | |||||||||||||||||||||||||||||||||
Cash flow hedges - swaps | 1,538 | 1,538 | — | 1,538 | — | |||||||||||||||||||||||||||||||||||||||
Interest rate swaps not designated as hedging instruments | Interest rate swaps not designated as hedging instruments | 31,028 | 31,028 | — | 31,028 | — | ||||||||||||||||||||||||||||||||||||||
Risk participation agreements | Risk participation agreements | 18 | 18 | — | 18 | — | ||||||||||||||||||||||||||||||||||||||
Accrued interest payable | 518 | 518 | 518 | — | — | Accrued interest payable | 1,725 | 1,725 | 1,725 | — | — | |||||||||||||||||||||||||||||||||
Total financial liabilities | $ | 8,170,702 | 8,192,067 | 6,622,090 | 1,538 | 1,568,439 | Total financial liabilities | $ | 12,473,366 | 12,459,795 | 11,043,520 | 138,531 | 1,277,744 |
Carrying amount | Estimated fair value | Level 1 | Level 2 | Level 3 | Carrying amount | Estimated fair value | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||||||||||
Financial assets: | Financial assets: | |||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 389,867 | 389,867 | 389,867 | — | — | Cash and cash equivalents | $ | 1,279,259 | 1,279,259 | 1,279,259 | — | — | |||||||||||||||||||||||||||||||
Securities available-for-sale | 826,200 | 826,200 | 4,440 | 812,394 | 9,366 | Securities available-for-sale | 1,548,592 | 1,548,592 | — | 1,548,592 | — | |||||||||||||||||||||||||||||||||
Securities held-to-maturity | 19,978 | 20,426 | — | 20,426 | — | Securities held-to-maturity | 768,154 | 751,513 | — | 751,513 | — | |||||||||||||||||||||||||||||||||
Loans receivable, net | 7,496,408 | 7,878,815 | 9,625 | — | 7,869,190 | Loans receivable, net | 9,889,095 | 9,648,825 | — | — | 9,648,825 | |||||||||||||||||||||||||||||||||
Assets held-for-sale | 146,660 | 146,660 | 146,660 | — | — | |||||||||||||||||||||||||||||||||||||||
Residential mortgage loans held-for-sale | Residential mortgage loans held-for-sale | 25,056 | 25,056 | — | — | 25,056 | ||||||||||||||||||||||||||||||||||||||
Accrued interest receivable | 21,699 | 21,699 | 21,699 | — | — | Accrued interest receivable | 25,599 | 25,599 | 25,599 | — | — | |||||||||||||||||||||||||||||||||
FHLB Stock | 7,390 | 7,390 | — | — | — | |||||||||||||||||||||||||||||||||||||||
Interest rate lock commitments | Interest rate lock commitments | 1,684 | 1,684 | — | — | 1,684 | ||||||||||||||||||||||||||||||||||||||
Forward commitments | Forward commitments | 371 | 371 | — | 371 | — | ||||||||||||||||||||||||||||||||||||||
Interest rate swaps not designated as hedging instruments | Interest rate swaps not designated as hedging instruments | 31,254 | 31,254 | — | 31,254 | — | ||||||||||||||||||||||||||||||||||||||
FHLB stock | FHLB stock | 14,184 | 14,184 | — | — | — | ||||||||||||||||||||||||||||||||||||||
Total financial assets | $ | 8,908,202 | 9,291,057 | 572,291 | 832,820 | 7,878,556 | Total financial assets | $ | 13,583,248 | 13,326,337 | 1,304,858 | 2,331,730 | 9,675,565 | |||||||||||||||||||||||||||||||
Financial liabilities: | Financial liabilities: | |||||||||||||||||||||||||||||||||||||||||||
Savings and checking accounts | $ | 6,341,735 | 6,341,735 | 6,341,735 | — | — | Savings and checking accounts | $ | 10,973,610 | 10,973,610 | 10,973,610 | — | — | |||||||||||||||||||||||||||||||
Time deposits | 1,540,586 | 1,626,434 | — | — | 1,626,434 | Time deposits | 1,327,555 | 1,339,308 | — | — | 1,339,308 | |||||||||||||||||||||||||||||||||
Liabilities held-for-sale | 215,649 | 215,649 | 215,649 | — | — | |||||||||||||||||||||||||||||||||||||||
Borrowed funds | 142,899 | 142,899 | 142,899 | — | — | Borrowed funds | 139,093 | 139,093 | 139,093 | — | — | |||||||||||||||||||||||||||||||||
Subordinated debt | Subordinated debt | 123,575 | 129,138 | — | 129,138 | — | ||||||||||||||||||||||||||||||||||||||
Junior subordinated debentures | 111,213 | 113,313 | — | — | 113,313 | Junior subordinated debentures | 129,054 | 120,083 | — | — | 120,083 | |||||||||||||||||||||||||||||||||
Cash flow hedges - swaps | 2,736 | 2,736 | — | 2,736 | — | |||||||||||||||||||||||||||||||||||||||
Foreign exchange swaps | Foreign exchange swaps | 341 | 341 | — | 341 | — | ||||||||||||||||||||||||||||||||||||||
Interest rate swaps not designated as hedging instruments | Interest rate swaps not designated as hedging instruments | 31,357 | 31,357 | — | 31,357 | — | ||||||||||||||||||||||||||||||||||||||
Risk participation agreements | Risk participation agreements | 60 | 60 | — | 60 | — | ||||||||||||||||||||||||||||||||||||||
Accrued interest payable | 643 | 643 | 643 | — | — | Accrued interest payable | 1,804 | 1,804 | 1,804 | — | — | |||||||||||||||||||||||||||||||||
Total financial liabilities | $ | 8,355,461 | 8,443,409 | 6,700,926 | 2,736 | 1,739,747 | Total financial liabilities | $ | 12,726,449 | 12,734,794 | 11,114,507 | 160,896 | 1,459,391 |
Level 1 | Level 2 | Level 3 | Total assets at fair value | ||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||
U.S. government and agencies | $ | — | 66,732 | — | 66,732 | ||||||||||||||||||
Government-sponsored enterprises | — | 41,264 | — | 41,264 | |||||||||||||||||||
States and political subdivisions | — | 115,397 | — | 115,397 | |||||||||||||||||||
Corporate | — | 13,510 | — | 13,510 | |||||||||||||||||||
Total debt securities | — | 236,903 | — | 236,903 | |||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||
GNMA | — | 14,100 | — | 14,100 | |||||||||||||||||||
FNMA | — | 132,487 | — | 132,487 | |||||||||||||||||||
FHLMC | — | 83,164 | — | 83,164 | |||||||||||||||||||
Non-agency | — | 410 | — | 410 | |||||||||||||||||||
Collateralized mortgage obligations: | |||||||||||||||||||||||
GNMA | — | 404,716 | — | 404,716 | |||||||||||||||||||
FNMA | — | 217,403 | — | 217,403 | |||||||||||||||||||
FHLMC | — | 275,560 | — | 275,560 | |||||||||||||||||||
Total mortgage-backed securities | — | 1,127,840 | — | 1,127,840 | |||||||||||||||||||
Interest rate lock commitments | — | — | 1,520 | 1,520 | |||||||||||||||||||
Forward commitments | — | 213 | 0 | 213 | |||||||||||||||||||
Foreign exchange swaps | — | 2 | — | 2 | |||||||||||||||||||
Interest rate swaps not designated as hedging instruments | — | 31,018 | — | 31,018 | |||||||||||||||||||
Total assets | $ | — | 1,395,976 | 1,520 | 1,397,496 | ||||||||||||||||||
Interest rate swaps not designated as hedging instruments | — | 31,028 | — | 31,028 | |||||||||||||||||||
Risk participation agreements | — | 18 | — | 18 | |||||||||||||||||||
Total liabilities | $ | — | 31,046 | — | 31,046 |
Level 1 | Level 2 | Level 3 | Total assets at fair value | |||||||||
Equity securities | $ | 949 | — | — | 949 | |||||||
Debt securities: | ||||||||||||
U.S. government and agencies | — | 2 | — | 2 | ||||||||
Government sponsored enterprises | — | 241,599 | — | 241,599 | ||||||||
States and political subdivisions | — | 53,214 | — | 53,214 | ||||||||
Corporate | — | 8,019 | 10,659 | 18,678 | ||||||||
Total debt securities | — | 302,834 | 10,659 | 313,493 | ||||||||
Residential mortgage-backed securities: | ||||||||||||
GNMA | — | 28,388 | — | 28,388 | ||||||||
FNMA | — | 82,023 | — | 82,023 | ||||||||
FHLMC | — | 68,234 | — | 68,234 | ||||||||
Non-agency | — | 560 | — | 560 | ||||||||
Collateralized mortgage obligations: | ||||||||||||
GNMA | — | 5,152 | — | 5,152 | ||||||||
FNMA | — | 202,459 | — | 202,459 | ||||||||
FHLMC | — | 168,182 | — | 168,182 | ||||||||
SBA | — | — | — | — | ||||||||
Non-agency | — | 41 | — | 41 | ||||||||
Total mortgage-backed securities | — | 555,039 | — | 555,039 | ||||||||
Interest rate swaps | — | (1,538 | ) | — | (1,538 | ) | ||||||
Total assets and liabilities | $ | 949 | 856,335 | 10,659 | 867,943 |
Level 1 | Level 2 | Level 3 | Total assets at fair value | ||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||
U.S. government and agencies | $ | — | 75,891 | — | 75,891 | ||||||||||||||||||
Government-sponsored enterprises | — | 46,085 | — | 46,085 | |||||||||||||||||||
States and political subdivisions | — | 128,701 | — | 128,701 | |||||||||||||||||||
Total debt securities | — | 250,677 | — | 250,677 | |||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||
GNMA | — | 16,510 | — | 16,510 | |||||||||||||||||||
FNMA | — | 160,063 | — | 160,063 | |||||||||||||||||||
FHLMC | — | 100,055 | — | 100,055 | |||||||||||||||||||
Non-agency | — | 431 | — | 431 | |||||||||||||||||||
Collateralized mortgage obligations: | |||||||||||||||||||||||
GNMA | — | 492,328 | — | 492,328 | |||||||||||||||||||
FNMA | — | 269,060 | — | 269,060 | |||||||||||||||||||
FHLMC | — | 259,468 | — | 259,468 | |||||||||||||||||||
Total mortgage-backed securities | — | 1,297,915 | — | 1,297,915 | |||||||||||||||||||
Interest rate lock commitments | — | — | 1,684 | 1,684 | |||||||||||||||||||
Forward commitments | — | 371 | — | 371 | |||||||||||||||||||
Interest rate swaps not designated as hedging instruments | — | 31,254 | — | 31,254 | |||||||||||||||||||
Total assets | $ | — | 1,580,217 | 1,684 | 1,581,901 | ||||||||||||||||||
Foreign exchange swaps | $ | — | 341 | — | 341 | ||||||||||||||||||
Interest rate swaps not designated as hedging instruments | — | 31,357 | — | 31,357 | |||||||||||||||||||
Risk participation agreements | — | 60 | — | 60 | |||||||||||||||||||
Total liabilities | $ | — | 31,758 | — | 31,758 |
Level 1 | Level 2 | Level 3 | Total assets at fair value | |||||||||
Equity securities | $ | 4,440 | — | — | 4,440 | |||||||
Debt securities: | ||||||||||||
U.S. government and agencies | — | 6 | — | 6 | ||||||||
Government sponsored enterprises | — | 294,170 | — | 294,170 | ||||||||
States and political subdivisions | — | 63,070 | — | 63,070 | ||||||||
Corporate | — | 7,614 | 9,366 | 16,980 | ||||||||
Total debt securities | — | 364,860 | 9,366 | 374,226 | ||||||||
Residential mortgage-backed securities: | ||||||||||||
GNMA | — | 30,883 | — | 30,883 | ||||||||
FNMA | — | 106,578 | — | 106,578 | ||||||||
FHLMC | — | 82,115 | — | 82,115 | ||||||||
Non-agency | — | 579 | — | 579 | ||||||||
Collateralized mortgage obligations: | ||||||||||||
GNMA | — | 6,287 | — | 6,287 | ||||||||
FNMA | — | 95,186 | — | 95,186 | ||||||||
FHLMC | — | 119,197 | — | 119,197 | ||||||||
SBA | — | 6,608 | — | 6,608 | ||||||||
Non-agency | — | 101 | — | 101 | ||||||||
Total mortgage-backed securities | — | 447,534 | — | 447,534 | ||||||||
Interest rate swaps | — | (2,736 | ) | — | (2,736 | ) | ||||||
Total assets and liabilities | $ | 4,440 | 809,658 | 9,366 | 823,464 |
For the quarter ended June 30, | Six months ended June 30, 2022 | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
Beginning balance, | $ | 1,680 | 5,060 | 1,684 | 6,465 | ||||||||||||||||||
Interest rate lock commitments: | |||||||||||||||||||||||
Net activity | (160) | (1,452) | (164) | (2,857) | |||||||||||||||||||
Ending balance | $ | 1,520 | 3,608 | 1,520 | 3,608 | ||||||||||||||||||
Quarter ended | Nine Months Ended | |||||||||||
September 30, 2017 | September 30, 2016 | September 30, 2017 | September 30, 2016 | |||||||||
Beginning balance | $ | 10,638 | 8,719 | 9,366 | 8,955 | |||||||
Net change in unrealized appreciation: | ||||||||||||
Included in net income as OTTI | — | — | — | |||||||||
Included in other comprehensive income | 21 | 510 | 1,293 | 274 | ||||||||
Purchases | — | — | — | — | ||||||||
Sales | — | — | — | — | ||||||||
Transfers in to Level 3 | — | — | — | — | ||||||||
Transfers out of Level 3 | — | — | — | — | ||||||||
Ending balance | $ | 10,659 | 9,229 | 10,659 | 9,229 |
Level 1 | Level 2 | Level 3 | Total assets at fair value | ||||||||||||||||||||
Loans individually assessed | $ | — | — | 7,168 | 7,168 | ||||||||||||||||||
Real estate owned, net | — | — | 1,205 | 1,205 | |||||||||||||||||||
Total assets | $ | — | — | 8,373 | 8,373 |
Level 1 | Level 2 | Level 3 | Total assets at fair value | |||||||||
Loans measured for impairment | $ | — | — | 38,907 | 38,907 | |||||||
Real estate owned | — | — | 5,462 | 5,462 | ||||||||
Total assets | $ | — | — | 44,369 | 44,369 |
Level 1 | Level 2 | Level 3 | Total assets at fair value | ||||||||||||||||||||
Loans individually assessed | $ | — | — | 46,968 | 46,968 | ||||||||||||||||||
Mortgage servicing rights | — | — | 380 | 380 | |||||||||||||||||||
Real estate owned, net | — | — | 873 | 873 | |||||||||||||||||||
Total assets | $ | — | — | 48,221 | 48,221 |
Level 1 | Level 2 | Level 3 | Total assets at fair value | |||||||||
Loans measured for impairment | $ | — | — | 41,933 | 41,933 | |||||||
Mortgage loan servicing | — | — | 246 | 246 | ||||||||
Real estate owned | — | — | 4,889 | 4,889 | ||||||||
Total assets | $ | — | — | 47,068 | 47,068 |
Fair value | Valuation techniques | Significant unobservable inputs | Range (weighted average) | |||||||||||||||||||||||
Loans individually assessed | $ | 7,168 | Appraisal value (1) | Estimated cost to sell | 10.0% | |||||||||||||||||||||
Discounted cash flow | Discount rate | 5.46% to 13.26% (6.86%) | ||||||||||||||||||||||||
Real estate owned, net | 1,205 | Appraisal value (1) | Estimated cost to sell | 10.0% | ||||||||||||||||||||||
Loans held for sale | 31,153 | Quoted prices for similar loans in active markets adjusted by an expected pull-through rate | Estimated pull-through rate | 100.0% |
Fair value | Valuation techniques | Significant unobservable inputs | Range (weighted average) | ||||||
Debt securities | $ | 10,659 | Discounted cash | Discount margin | 0.4% to 2.1% (0.7%) | ||||
flow | Default rates | 1.0% | |||||||
Prepayment speeds | 1.0 annually | ||||||||
Loans measured for impairment | 38,907 | Appraisal value (1) | Estimated cost to sell | 10.0% | |||||
Discounted cash flow | Discount rate | 4.25% to 10.0% (7.50%) | |||||||
Real estate owned | 5,462 | Appraisal value (1) | Estimated cost to sell | 10.0% |
Asset derivatives | Liability derivatives | ||||||||||||||||||||||
Notional amount | Fair value | Notional amount | Fair value | ||||||||||||||||||||
At June 30, 2022 | |||||||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||
Interest rate swap agreements | $ | 691,991 | 31,018 | 691,991 | 31,028 | ||||||||||||||||||
Foreign exchange swap agreements | 675 | 2 | — | — | |||||||||||||||||||
Interest rate lock commitments | 72,160 | 1,520 | — | — | |||||||||||||||||||
Forward commitments | 19,621 | 213 | — | — | |||||||||||||||||||
Risk participation agreements | — | — | 92,812 | 18 | |||||||||||||||||||
Total Derivatives | $ | 784,447 | 32,753 | 784,803 | 31,046 | ||||||||||||||||||
At December 31, 2021 | |||||||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||
Interest rate swap agreements | $ | 644,997 | 31,254 | 644,997 | 31,357 | ||||||||||||||||||
Foreign exchange swap agreements | — | — | 17,124 | 341 | |||||||||||||||||||
Interest rate lock commitments | 67,473 | 1,684 | — | — | |||||||||||||||||||
Forward commitments | 14,484 | 371 | — | — | |||||||||||||||||||
Risk participation agreements | — | — | 93,135 | 60 | |||||||||||||||||||
Total derivatives | $ | 726,954 | 33,309 | 755,256 | 31,758 |
For the quarter ended June 30, | For the six months ended June 30, | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
Non-hedging swap derivatives: | |||||||||||||||||||||||
Increase/(decrease) in other income | $ | 53 | (26) | 114 | 498 | ||||||||||||||||||
(Decrease)/increase in mortgage banking income | (96) | 1,510 | 322 | 3,570 |
September 30, 2017 | December 31, 2016 | |||||
Derivatives designed as hedging instruments: | ||||||
Fair value (1) | $ | 1,538 | 2,736 | |||
Notional amount | 50,000 | 50,000 | ||||
Collateral posted | 2,055 | 3,005 | ||||
Derivatives not designed as hedging instruments: | ||||||
Foreign exchange fair value (2) | 44 | — | ||||
Notional amount | 4,578 | — |
For the quarter ended June 30, 2022 | |||||||||||||||||||||||
Unrealized losses on securities available-for-sale | Change in defined benefit pension plans | Total | |||||||||||||||||||||
Balance as of March 31, 2022 | $ | (77,101) | (25,443) | (102,544) | |||||||||||||||||||
Other comprehensive loss before reclassification adjustments (1) | (39,954) | — | (39,954) | ||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (2) (3) | (1) | (131) | (132) | ||||||||||||||||||||
Net other comprehensive loss | (39,955) | (131) | (40,086) | ||||||||||||||||||||
Balance as of June 30, 2022 | $ | (117,056) | (25,574) | (142,630) |
For the quarter ended September 30, 2017 | ||||||||||||
Unrealized gains and (losses) on securities available- for-sale | Change in fair value of interest rate swaps | Change in defined benefit pension plans | Total | |||||||||
Balance as of June 30, 2017 | $ | 2,276 | (1,257 | ) | (26,167 | ) | (25,148 | ) | ||||
Other comprehensive income before reclassification adjustments | (264 | ) | 258 | — | (6 | ) | ||||||
Amounts reclassified from accumulated other comprehensive income (1), (2) | (674 | ) | — | 221 | (453 | ) | ||||||
Net other comprehensive income | (938 | ) | 258 | 221 | (459 | ) | ||||||
Balance as of September 30, 2017 | $ | 1,338 | (999 | ) | (25,946 | ) | (25,607 | ) |
For the quarter ended June 30, 2021 | |||||||||||||||||||||||
Unrealized gains/(losses) on securities available-for-sale | Change in defined benefit pension plans | Total | |||||||||||||||||||||
Balance as of March 31, 2021 | $ | (653) | (50,059) | (50,712) | |||||||||||||||||||
Other comprehensive loss before reclassification adjustments (4) | 4,322 | — | 4,322 | ||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (5) (6) | (136) | 334 | 198 | ||||||||||||||||||||
Net other comprehensive income | 4,186 | 334 | 4,520 | ||||||||||||||||||||
Balance as of June 30, 2021 | $ | 3,533 | (49,725) | (46,192) |
For the quarter ended September 30, 2016 | ||||||||||||
Unrealized gains and (losses) on securities available- for-sale | Change in fair value of interest rate swaps | Change in defined benefit pension plans | Total | |||||||||
Balance as of June 30, 2016 | $ | 7,866 | (2,753 | ) | (24,630 | ) | (19,517 | ) | ||||
Other comprehensive income before reclassification adjustments | (785 | ) | 471 | — | (314 | ) | ||||||
Amounts reclassified from accumulated other comprehensive income (3), (4) | (36 | ) | — | 224 | 188 | |||||||
Net other comprehensive income | (821 | ) | 471 | 224 | (126 | ) | ||||||
Balance as of September 30, 2016 | $ | 7,045 | (2,282 | ) | (24,406 | ) | (19,643 | ) |
For the six months ended June 30, 2022 | |||||||||||||||||||||||
Unrealized gains/(losses) on securities available-for-sale | Change in defined benefit pension plans | Total | |||||||||||||||||||||
Balance as of December 31, 2021 | $ | (12,317) | (25,312) | (37,629) | |||||||||||||||||||
Other comprehensive loss before reclassification adjustments (1) | (104,737) | — | (104,737) | ||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (2) (3) | (2) | (262) | (264) | ||||||||||||||||||||
Net other comprehensive loss | (104,739) | (262) | (105,001) | ||||||||||||||||||||
Balance as of June 30, 2022 | $ | (117,056) | (25,574) | (142,630) |
For the six months ended June 30, 2021 | |||||||||||||||||||||||
Unrealized gains on securities available-for-sale | Change in defined benefit pension plans | Total | |||||||||||||||||||||
Balance as of December 31, 2020 | $ | 16,843 | (50,392) | (33,549) | |||||||||||||||||||
Other comprehensive income/(loss) before reclassification adjustments (4) | (13,099) | — | (13,099) | ||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (5) (6) | (211) | 667 | 456 | ||||||||||||||||||||
Net other comprehensive (loss)/income | (13,310) | 667 | (12,643) | ||||||||||||||||||||
Balance as of June 30, 2021 | $ | 3,533 | (49,725) | (46,192) |
For the nine months ended September 30, 2017 | ||||||||||||
Unrealized gains and (losses) on securities available- for-sale | Change in fair value of interest rate swaps | Change in defined benefit pension plans | Total | |||||||||
Balance as of December 31, 2016 | $ | 395 | (1,778 | ) | (26,608 | ) | (27,991 | ) | ||||
Other comprehensive income before reclassification adjustments | 1,684 | 779 | — | 2,463 | ||||||||
Amounts reclassified from accumulated other comprehensive income (1), (2) | (741 | ) | — | 662 | (79 | ) | ||||||
Net other comprehensive income | 943 | 779 | 662 | 2,384 | ||||||||
Balance as of September 30, 2017 | $ | 1,338 | (999 | ) | (25,946 | ) | (25,607 | ) |
For the nine months ended September 30, 2016 | ||||||||||||
Unrealized gains and (losses) on securities available- for-sale | Change in fair value of interest rate swaps | Change in defined benefit pension plans | Total | |||||||||
Balance as of December 31, 2015 | $ | 3,325 | (2,779 | ) | (25,081 | ) | (24,535 | ) | ||||
Other comprehensive income before reclassification adjustments | 3,717 | 497 | — | 4,214 | ||||||||
Amounts reclassified from accumulated other comprehensive income (3), (4) | 3 | — | 675 | 678 | ||||||||
Net other comprehensive income | 3,720 | 497 | 675 | 4,892 | ||||||||
Balance as of September 30, 2016 | $ | 7,045 | (2,282 | ) | (24,406 | ) | (19,643 | ) |
At September 30, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum capital | Well capitalized | At June 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Actual | requirements (1) | requirements | Actual | Minimum capital requirements (1) | Well capitalized requirements | ||||||||||||||||||||||||||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||||||||||||||||||||||||
Total capital (to risk weighted assets) | Total capital (to risk weighted assets) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Northwest Bancshares, Inc. | $ | 1,077,603 | 15.152 | % | 657,874 | 9.250 | % | 711,216 | 10.00 | % | Northwest Bancshares, Inc. | $ | 1,692,802 | 16.481 | % | $ | 1,078,484 | 10.500 | % | $ | 1,027,128 | 10.000 | % | ||||||||||||||||||||||||||||||
Northwest Bank | 1,032,725 | 14.538 | % | 657,102 | 9.250 | % | 710,381 | 10.00 | % | Northwest Bank | 1,461,989 | 14.247 | % | 1,077,489 | 10.500 | % | 1,026,180 | 10.000 | % | ||||||||||||||||||||||||||||||||||
Tier 1 capital (to risk weighted assets) | Tier 1 capital (to risk weighted assets) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Northwest Bancshares, Inc. | 1,020,620 | 14.350 | % | 515,631 | 7.250 | % | 568,972 | 8.00 | % | Northwest Bancshares, Inc. | 1,491,179 | 14.518 | % | 873,058 | 8.500 | % | 821,702 | 8.000 | % | ||||||||||||||||||||||||||||||||||
Northwest Bank | 975,788 | 13.736 | % | 515,026 | 7.250 | % | 568,304 | 8.00 | % | Northwest Bank | 1,374,032 | 13.390 | % | 872,253 | 8.500 | % | 820,944 | 8.000 | % | ||||||||||||||||||||||||||||||||||
CET1 capital (to risk weighted assets) | CET1 capital (to risk weighted assets) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Northwest Bancshares, Inc. | 912,745 | 12.834 | % | 408,949 | 5.750 | % | 462,290 | 6.50 | % | Northwest Bancshares, Inc. | 1,365,984 | 13.299 | % | 718,989 | 7.000 | % | 667,633 | 6.500 | % | ||||||||||||||||||||||||||||||||||
Northwest Bank | 975,788 | 13.736 | % | 408,469 | 5.750 | % | 461,747 | 6.50 | % | Northwest Bank | 1,374,032 | 13.390 | % | 718,326 | 7.000 | % | 667,017 | 6.500 | % | ||||||||||||||||||||||||||||||||||
Tier 1 capital (leverage) (to average assets) | Tier 1 capital (leverage) (to average assets) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Northwest Bancshares, Inc. | 1,020,620 | 10.994 | % | 371,341 | 4.000 | % | 464,176 | 5.000 | % | Northwest Bancshares, Inc. | 1,491,179 | 10.717 | % | 556,565 | 4.000 | % | 695,707 | 5.000 | % | ||||||||||||||||||||||||||||||||||
Northwest Bank | 975,788 | 10.521 | % | 370,992 | 4.000 | % | 463,740 | 5.000 | % | Northwest Bank | 1,374,032 | 9.878 | % | 556,391 | 4.000 | % | 695,489 | 5.000 | % |
At December 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum capital | Well capitalized | At December 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Actual | requirements (1) | requirements | Actual | Minimum capital requirements (1) | Well capitalized requirements | ||||||||||||||||||||||||||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||||||||||||||||||||||||
Total capital (to risk weighted assets) | Total capital (to risk weighted assets) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Northwest Bancshares, Inc. | $ | 1,051,582 | 14.873 | % | 609,835 | 8.625 | % | 751,246 | 10.00 | % | Northwest Bancshares, Inc. | $ | 1,682,487 | 17.056 | % | $ | 1,035,786 | 10.500 | % | $ | 986,463 | 10.000 | % | ||||||||||||||||||||||||||||||
Northwest Bank | 961,279 | 13.609 | % | 609,248 | 8.625 | % | 750,523 | 10.00 | % | Northwest Bank | 1,551,084 | 15.738 | % | 1,034,819 | 10.500 | % | 985,542 | 10.000 | % | ||||||||||||||||||||||||||||||||||
Tier I capital (to risk weighted assets) | Tier I capital (to risk weighted assets) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Northwest Bancshares, Inc. | 990,153 | 14.004 | % | 468,424 | 6.625 | % | 609,835 | 8.00 | % | Northwest Bancshares, Inc. | 1,475,190 | 14.954 | % | 838,494 | 8.500 | % | 789,170 | 8.000 | % | ||||||||||||||||||||||||||||||||||
Northwest Bank | 900,328 | 12.746 | % | 467,973 | 6.625 | % | 609,248 | 8.00 | % | Northwest Bank | 1,467,362 | 14.889 | % | 837,711 | 8.500 | % | 788,434 | 8.000 | % | ||||||||||||||||||||||||||||||||||
CET1 capital (to risk weighted assets) | CET1 capital (to risk weighted assets) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Northwest Bancshares, Inc. | 882,278 | 12.478 | % | 362,366 | 5.125 | % | 503,777 | 6.50 | % | Northwest Bancshares, Inc. | 1,350,125 | 13.687 | % | 690,524 | 7.000 | % | 641,201 | 6.500 | % | ||||||||||||||||||||||||||||||||||
Northwest Bank | 900,328 | 12.746 | % | 362,017 | 5.125 | % | 503,292 | 6.50 | % | Northwest Bank | 1,467,362 | 14.889 | % | 689,879 | 7.000 | % | 640,602 | 6.500 | % | ||||||||||||||||||||||||||||||||||
Tier I capital (leverage) (to average assets) | Tier I capital (leverage) (to average assets) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Northwest Bancshares, Inc. | 990,153 | 10.530 | % | 376,116 | 4.000 | % | 470,145 | 5.000 | % | Northwest Bancshares, Inc. | 1,475,190 | 10.349 | % | 570,160 | 4.000 | % | 712,699 | 5.000 | % | ||||||||||||||||||||||||||||||||||
Northwest Bank | 900,328 | 9.585 | % | 375,735 | 4.000 | % | 469,669 | 5.000 | % | Northwest Bank | 1,467,362 | 10.296 | % | 570,047 | 4.000 | % | 712,558 | 5.000 | % |
June 30, 2022 | December 31, 2021 | ||||||||||
(in thousands) | |||||||||||
Loans 90 days or more past due: | |||||||||||
Residential mortgage loans | $ | 5,445 | 7,641 | ||||||||
Home equity loans | 2,081 | 4,262 | |||||||||
Vehicle loans | 1,861 | 1,635 | |||||||||
Other consumer loans | 460 | 765 | |||||||||
Commercial real estate loans | 14,823 | 23,489 | |||||||||
Commercial real estate - owner occupied | 126 | 574 | |||||||||
Commercial loans | 583 | 1,105 | |||||||||
Total loans 90 days or more past due | $ | 25,379 | 39,471 | ||||||||
Total real estate owned (REO) | $ | 1,205 | 873 | ||||||||
Total loans 90 days or more past due and REO | 26,584 | 40,344 | |||||||||
Total loans 90 days or more past due to net loans receivable | 0.25 | % | 0.40 | % | |||||||
Total loans 90 days or more past due and REO to total assets | 0.19 | % | 0.28 | % | |||||||
Nonperforming assets: | |||||||||||
Nonaccrual loans - loans 90 days or more past due | $ | 25,000 | 39,140 | ||||||||
Nonaccrual loans - loans less than 90 days past due | 73,385 | 119,331 | |||||||||
Loans 90 days or more past due still accruing | 379 | 331 | |||||||||
Total nonperforming loans | 98,764 | 158,802 | |||||||||
Total nonperforming assets | $ | 99,969 | 159,675 | ||||||||
Total nonaccrual loans to total loans | 0.94 | % | 1.59 | % | |||||||
Nonaccrual TDR loans (1) | $ | 37,647 | 17,216 | ||||||||
Accruing TDR loans | 16,590 | 13,072 | |||||||||
Total TDR loans | $ | 54,237 | 30,288 |
September 30, 2017 | December 31, 2016 | |||||
(Dollars in thousands) | ||||||
Loans 90 days or more past due | ||||||
Residential mortgage loans | $ | 12,190 | 13,621 | |||
Home equity loans | 6,543 | 5,756 | ||||
Consumer legacy finance loans | 332 | 743 | ||||
Consumer loans | 3,506 | 3,180 | ||||
Commercial real estate loans | 23,310 | 21,834 | ||||
Commercial loans | 4,177 | 3,520 | ||||
Total loans 90 days or more past due | $ | 50,058 | 48,654 | |||
Total real estate owned (REO) | 5,462 | 4,889 | ||||
Total loans 90 days or more past due and REO | 55,520 | 53,543 | ||||
Total loans 90 days or more past due to net loans receivable | 0.65 | % | 0.65 | % | ||
Total loans 90 days or more past due and REO to total assets | 0.59 | % | 0.56 | % | ||
Nonperforming loans: | ||||||
Nonaccrual loans - loans 90 days or more delinquent | $ | 48,416 | 45,181 | |||
Nonaccrual loans - loans less than 90 days delinquent | 24,918 | 34,355 | ||||
Loans 90 days or more past maturity and still accruing | 398 | 649 | ||||
Total nonperforming loans | 73,732 | 80,185 | ||||
Total nonperforming assets | $ | 79,194 | 85,074 | |||
Nonaccrual troubled debt restructured loans (1) | $ | 17,809 | 16,346 | |||
Accruing troubled debt restructured loans | 20,660 | 26,580 | ||||
Total troubled debt restructured loans | $ | 38,469 | 42,926 |
Quarter ended June 30, | |||||||||||||||||||||||||||||||||||
2022 | 2021 | ||||||||||||||||||||||||||||||||||
Average balance | Interest | Avg. yield/ cost (h) | Average balance | Interest | Avg. yield/ cost (h) | ||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||||
Interest-earning assets: | |||||||||||||||||||||||||||||||||||
Residential mortgage loans | $ | 3,171,469 | 27,327 | 3.45 | % | $ | 2,935,034 | 25,609 | 3.49 | % | |||||||||||||||||||||||||
Home equity loans | 1,277,440 | 11,961 | 3.76 | % | 1,380,794 | 12,232 | 3.55 | % | |||||||||||||||||||||||||||
Consumer loans | 1,880,769 | 15,777 | 3.36 | % | 1,589,739 | 14,555 | 3.67 | % | |||||||||||||||||||||||||||
Commercial real estate loans | 2,915,750 | 31,844 | 4.32 | % | 3,257,810 | 33,349 | 4.05 | % | |||||||||||||||||||||||||||
Commercial loans | 912,454 | 9,090 | 3.94 | % | 1,133,969 | 9,978 | 3.48 | % | |||||||||||||||||||||||||||
Loans receivable (a) (b) (d) (includes FTE adjustments of $425 and $468, respectively) | 10,157,882 | 95,999 | 3.79 | % | 10,297,346 | 95,723 | 3.73 | % | |||||||||||||||||||||||||||
Mortgage-backed securities (c) | 1,952,375 | 7,158 | 1.47 | % | 1,756,227 | 5,680 | 1.29 | % | |||||||||||||||||||||||||||
Investment securities (c) (d) (includes FTE adjustments of $192 and $179, respectively) | 376,935 | 1,590 | 1.69 | % | 364,414 | 1,466 | 1.61 | % | |||||||||||||||||||||||||||
FHLB stock, at cost | 13,428 | 82 | 2.44 | % | 23,107 | 138 | 2.40 | % | |||||||||||||||||||||||||||
Other interest-earning deposits | 846,142 | 1,684 | 0.79 | % | 810,741 | 192 | 0.09 | % | |||||||||||||||||||||||||||
Total interest-earning assets (includes FTE adjustments of $617 and $647, respectively) | 13,346,762 | 106,513 | 3.20 | % | 13,251,835 | 103,199 | 3.12 | % | |||||||||||||||||||||||||||
Noninterest-earning assets (e) | 909,943 | 1,104,924 | |||||||||||||||||||||||||||||||||
Total assets | $ | 14,256,705 | $ | 14,356,759 | |||||||||||||||||||||||||||||||
Liabilities and shareholders’ equity | |||||||||||||||||||||||||||||||||||
Interest-bearing liabilities: | |||||||||||||||||||||||||||||||||||
Savings deposits | $ | 2,361,919 | 589 | 0.10 | % | $ | 2,255,578 | 590 | 0.10 | % | |||||||||||||||||||||||||
Interest-bearing demand deposits | 2,857,336 | 310 | 0.04 | % | 2,840,949 | 407 | 0.06 | % | |||||||||||||||||||||||||||
Money market deposit accounts | 2,653,467 | 668 | 0.10 | % | 2,537,629 | 621 | 0.10 | % | |||||||||||||||||||||||||||
Time deposits | 1,220,815 | 1,774 | 0.58 | % | 1,493,947 | 3,155 | 0.85 | % | |||||||||||||||||||||||||||
Borrowed funds (f) | 123,749 | 167 | 0.54 | % | 131,240 | 150 | 0.46 | % | |||||||||||||||||||||||||||
Subordinated debentures | 119,563 | 1,203 | 4.03 | % | 123,443 | 1,264 | 4.11 | % | |||||||||||||||||||||||||||
Junior subordinated debentures | 129,142 | 920 | 2.82 | % | 128,882 | 636 | 1.95 | % | |||||||||||||||||||||||||||
Total interest-bearing liabilities | 9,465,991 | 5,631 | 0.24 | % | 9,511,668 | 6,823 | 0.29 | % | |||||||||||||||||||||||||||
Noninterest-bearing demand deposits (g) | 3,090,372 | 3,036,202 | |||||||||||||||||||||||||||||||||
Noninterest-bearing liabilities | 193,510 | 247,930 | |||||||||||||||||||||||||||||||||
Total liabilities | 12,749,873 | 12,795,800 | |||||||||||||||||||||||||||||||||
Shareholders’ equity | 1,506,832 | 1,560,959 | |||||||||||||||||||||||||||||||||
Total liabilities and shareholders’ equity | $ | 14,256,705 | $ | 14,356,759 | |||||||||||||||||||||||||||||||
Net interest income/Interest rate spread | 100,882 | 2.96 | % | 96,376 | 2.84 | % | |||||||||||||||||||||||||||||
Net interest-earning assets/Net interest margin | $ | 3,880,771 | 3.07 | % | $ | 3,740,167 | 2.91 | % | |||||||||||||||||||||||||||
Ratio of interest-earning assets to interest- bearing liabilities | 1.41X | 1.39X |
Quarter ended September 30, | |||||||||||||||||||
2017 | 2016 | ||||||||||||||||||
Average balance | Interest | Avg. yield/ cost (g) | Average balance | Interest | Avg. yield/ cost (g) | ||||||||||||||
Assets: | |||||||||||||||||||
Interest-earning assets: | |||||||||||||||||||
Residential mortgage loans | $ | 2,732,546 | 28,279 | 4.14 | % | $ | 2,739,099 | 27,952 | 4.08 | % | |||||||||
Home equity loans | 1,299,473 | 14,694 | 4.49 | % | 1,192,929 | 12,884 | 4.30 | % | |||||||||||
Consumer loans | 617,754 | 7,627 | 4.90 | % | 504,376 | 6,267 | 4.94 | % | |||||||||||
Legacy consumer finance loans | 33,469 | 1,433 | 17.13 | % | 50,578 | 2,664 | 21.07 | % | |||||||||||
Commercial real estate loans | 2,389,969 | 27,234 | 4.46 | % | 2,394,001 | 26,683 | 4.36 | % | |||||||||||
Commercial loans | 593,143 | 6,659 | 4.39 | % | 476,715 | 5,193 | 4.26 | % | |||||||||||
Loans receivable (a) (b) (includes FTE adjustments of $553 and $560, respectively) | 7,666,354 | 85,926 | 4.45 | % | 7,357,698 | 81,643 | 4.41 | % | |||||||||||
Mortgage-backed securities (c) | 607,454 | 3,118 | 2.05 | % | 440,966 | 2,030 | 1.84 | % | |||||||||||
Investment securities (c) (includes FTE adjustments of $257 and $364, respectively) | 352,813 | 1,690 | 1.92 | % | 275,718 | 1,667 | 2.42 | % | |||||||||||
FHLB stock | 7,748 | 63 | 3.23 | % | 27,761 | 218 | 3.12 | % | |||||||||||
Other interest-earning deposits | 71,482 | 243 | 1.33 | % | 91,243 | 114 | 0.49 | % | |||||||||||
Total interest-earning assets (includes FTE adjustments of $809 and $924, respectively) | 8,705,851 | 91,040 | 4.15 | % | 8,193,386 | 85,672 | 4.16 | % | |||||||||||
Noninterest earning assets (d) | 755,026 | 835,500 | |||||||||||||||||
Total assets | $ | 9,460,877 | $ | 9,028,886 | |||||||||||||||
Liabilities and shareholders’ equity: | |||||||||||||||||||
Interest-bearing liabilities: | |||||||||||||||||||
Savings deposits | $ | 1,681,777 | 776 | 0.18 | % | $ | 1,485,763 | 744 | 0.20 | % | |||||||||
Interest-bearing checking deposits | 1,435,143 | 297 | 0.08 | % | 1,179,557 | 78 | 0.03 | % | |||||||||||
Money market deposit accounts | 1,789,082 | 1,048 | 0.23 | % | 1,418,779 | 826 | 0.23 | % | |||||||||||
Time deposits | 1,449,830 | 3,674 | 1.01 | % | 1,597,542 | 4,005 | 1.00 | % | |||||||||||
Borrowed funds (e) | 106,282 | 49 | 0.18 | % | 560,407 | 657 | 0.47 | % | |||||||||||
Junior subordinated debentures | 111,213 | 1,150 | 4.05 | % | 111,213 | 1,144 | 4.03 | % | |||||||||||
Total interest-bearing liabilities | 6,573,327 | 6,994 | 0.42 | % | 6,353,261 | 7,454 | 0.47 | % | |||||||||||
Noninterest-bearing checking deposits (f) | 1,573,112 | 1,243,474 | |||||||||||||||||
Noninterest-bearing liabilities | 116,021 | 276,014 | |||||||||||||||||
Total liabilities | 8,262,460 | 7,872,749 | |||||||||||||||||
Shareholders’ equity | 1,198,417 | 1,156,137 | |||||||||||||||||
Total liabilities and shareholders’ equity | $ | 9,460,877 | $ | 9,028,886 | |||||||||||||||
Net interest income/ Interest rate spread | 84,046 | 3.73 | % | 78,218 | 3.69 | % | |||||||||||||
Net interest-earning assets/ Net interest margin | $ | 2,132,524 | 3.86 | % | $ | 1,840,125 | 3.82 | % | |||||||||||
Ratio of interest-earning assets to interest-bearing liabilities | 1.32X | 1.29 | X |
For the quarter ended June 30, 2022 vs. 2021 | |||||||||||||||||
Increase/(decrease) due to | Total increase/(decrease) | ||||||||||||||||
Rate | Volume | ||||||||||||||||
Interest-earning assets: | |||||||||||||||||
Loans receivable | $ | 1,576 | (1,300) | 276 | |||||||||||||
Mortgage-backed securities | 759 | 719 | 1,478 | ||||||||||||||
Investment securities | 71 | 53 | 124 | ||||||||||||||
FHLB stock, at cost | 3 | (59) | (56) | ||||||||||||||
Other interest-earning deposits | 1,406 | 86 | 1,492 | ||||||||||||||
Total interest-earning assets | 3,815 | (501) | 3,314 | ||||||||||||||
Interest-bearing liabilities: | |||||||||||||||||
Savings deposits | (27) | 26 | (1) | ||||||||||||||
Interest-bearing demand deposits | (99) | 2 | (97) | ||||||||||||||
Money market deposit accounts | 17 | 30 | 47 | ||||||||||||||
Time deposits | (984) | (397) | (1,381) | ||||||||||||||
Borrowed funds | 27 | (10) | 17 | ||||||||||||||
Subordinated debt | (25) | (36) | (61) | ||||||||||||||
Junior subordinated debentures | 282 | 2 | 284 | ||||||||||||||
Total interest-bearing liabilities | (809) | (383) | (1,192) | ||||||||||||||
Net change in net interest income | $ | 4,624 | (118) | 4,506 |
Rate | Volume | Net Change | |||||||
Interest earning assets: | |||||||||
Loans receivable | $ | 1,145 | 3,138 | 4,283 | |||||
Mortgage-backed securities | 321 | 767 | 1,088 | ||||||
Investment securities | (443 | ) | 466 | 23 | |||||
FHLB stock | 4 | (159 | ) | (155 | ) | ||||
Other interest-earning deposits | 196 | (67 | ) | 129 | |||||
Total interest-earning assets | 1,223 | 4,145 | 5,368 | ||||||
Interest-bearing liabilities: | |||||||||
Savings deposits | (60 | ) | 92 | 32 | |||||
Interest-bearing checking deposits | 166 | 53 | 219 | ||||||
Money market deposit accounts | 3 | 219 | 222 | ||||||
Time deposits | 32 | (363 | ) | (331 | ) | ||||
Borrowed funds | (100 | ) | (508 | ) | (608 | ) | |||
Junior subordinated debentures | 6 | — | 6 | ||||||
Total interest-bearing liabilities | 47 | (507 | ) | (460 | ) | ||||
Net change in net interest income | $ | 1,176 | 4,652 | 5,828 |
Six months ended June 30, | |||||||||||||||||||||||||||||||||||
2022 | 2021 | ||||||||||||||||||||||||||||||||||
Average balance | Interest | Avg. yield/ cost (h) | Average balance | Interest | Avg. yield/ cost (h) | ||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||||
Interest-earning assets: | |||||||||||||||||||||||||||||||||||
Residential mortgage loans | $ | 3,077,155 | 52,868 | 3.44 | % | $ | 2,971,037 | 51,975 | 3.50 | % | |||||||||||||||||||||||||
Home equity loans | 1,285,668 | 23,433 | 3.68 | % | 1,406,260 | 25,046 | 3.57 | % | |||||||||||||||||||||||||||
Consumer loans | 1,840,110 | 30,684 | 3.36 | % | 1,526,861 | 29,121 | 3.82 | % | |||||||||||||||||||||||||||
Commercial real estate loans | 2,957,744 | 61,601 | 4.14 | % | 3,285,696 | 71,820 | 4.32 | % | |||||||||||||||||||||||||||
Commercial loans | 868,854 | 15,987 | 3.66 | % | 1,161,736 | 20,543 | 3.50 | % | |||||||||||||||||||||||||||
Loans receivable (a) (b) (d) (includes FTE adjustments of $825 and $932, respectively) | 10,029,531 | 184,573 | 3.71 | % | 10,351,590 | 198,505 | 3.85 | % | |||||||||||||||||||||||||||
Mortgage-backed securities (c) | 1,948,794 | 13,518 | 1.39 | % | 1,541,585 | 9,880 | 1.28 | % | |||||||||||||||||||||||||||
Investment securities (c) (d) (includes FTE adjustments of $381 and $351, respectively) | 375,323 | 3,130 | 1.67 | % | 347,977 | 2,847 | 1.64 | % | |||||||||||||||||||||||||||
FHLB stock, at cost | 13,648 | 163 | 2.41 | % | 22,462 | 254 | 2.27 | % | |||||||||||||||||||||||||||
Other interest-earning deposits | 1,003,627 | 2,151 | 0.43 | % | 805,930 | 375 | 0.09 | % | |||||||||||||||||||||||||||
Total interest-earning assets (includes FTE adjustments of $1,206 and $1,283, respectively) | 13,370,923 | 203,535 | 3.07 | % | 13,069,544 | 211,861 | 3.25 | % | |||||||||||||||||||||||||||
Noninterest-earning assets (e) | 969,111 | 1,103,734 | |||||||||||||||||||||||||||||||||
Total assets | $ | 14,340,034 | $ | 14,173,278 | |||||||||||||||||||||||||||||||
Liabilities and shareholders’ equity | |||||||||||||||||||||||||||||||||||
Interest-bearing liabilities: | |||||||||||||||||||||||||||||||||||
Savings deposits | $ | 2,348,282 | 1,181 | 0.10 | % | $ | 2,187,184 | 1,215 | 0.11 | % | |||||||||||||||||||||||||
Interest-bearing demand deposits | 2,866,333 | 631 | 0.04 | % | 2,812,348 | 836 | 0.06 | % | |||||||||||||||||||||||||||
Money market deposit accounts | 2,660,745 | 1,321 | 0.10 | % | 2,517,673 | 1,278 | 0.10 | % | |||||||||||||||||||||||||||
Time deposits | 1,256,513 | 3,959 | 0.64 | % | 1,538,489 | 6,959 | 0.91 | % | |||||||||||||||||||||||||||
Borrowed funds (f) | 129,487 | 324 | 0.50 | % | 137,488 | 303 | 0.44 | % | |||||||||||||||||||||||||||
Subordinated debentures | 121,574 | 2,454 | 4.04 | % | 123,400 | 2,522 | 4.10 | % | |||||||||||||||||||||||||||
Junior subordinated debentures | 129,109 | 1,571 | 2.42 | % | 128,850 | 1,278 | 1.96 | % | |||||||||||||||||||||||||||
Total interest-bearing liabilities | 9,512,043 | 11,441 | 0.24 | % | 9,445,432 | 14,391 | 0.31 | % | |||||||||||||||||||||||||||
Noninterest-bearing demand deposits (g) | 3,075,617 | 2,921,343 | |||||||||||||||||||||||||||||||||
Noninterest-bearing liabilities | 198,854 | 256,748 | |||||||||||||||||||||||||||||||||
Total liabilities | 12,786,514 | 12,623,523 | |||||||||||||||||||||||||||||||||
Shareholders’ equity | 1,553,520 | 1,549,755 | |||||||||||||||||||||||||||||||||
Total liabilities and shareholders’ equity | $ | 14,340,034 | $ | 14,173,278 | |||||||||||||||||||||||||||||||
Net interest income/Interest rate spread | 192,094 | 2.83 | % | 197,470 | 2.94 | % | |||||||||||||||||||||||||||||
Net interest-earning assets/Net interest margin | $ | 3,858,880 | 2.87 | % | $ | 3,624,112 | 3.02 | % | |||||||||||||||||||||||||||
Ratio of interest-earning assets to interest-bearing liabilities | 1.41X | 1.38X |
Nine Months Ended September 30, | |||||||||||||||||||
2017 | 2016 | ||||||||||||||||||
Average balance | Interest | Avg. yield/ cost (g) | Average balance | Interest | Avg. yield/ cost (g) | ||||||||||||||
Assets: | |||||||||||||||||||
Interest-earning assets: | |||||||||||||||||||
Residential mortgage loans | $ | 2,724,348 | 83,833 | 4.10 | % | $ | 2,743,480 | 86,826 | 4.22 | % | |||||||||
Home equity loans | 1,314,344 | 43,239 | 4.40 | % | 1,178,133 | 38,229 | 4.33 | % | |||||||||||
Consumer loans | 598,056 | 22,251 | 4.97 | % | 477,814 | 17,768 | 4.97 | % | |||||||||||
Legacy consumer finance loans | 40,241 | 6,025 | 19.96 | % | 51,542 | 8,080 | 20.90 | % | |||||||||||
Commercial real estate loans | 2,425,302 | 80,867 | 4.40 | % | 2,367,014 | 79,367 | 4.41 | % | |||||||||||
Commercial loans | 560,677 | 18,260 | 4.29 | % | 460,228 | 14,817 | 4.23 | % | |||||||||||
Loans receivable (a) (b) (includes FTE adjustments of $1,637 and $1,717, respectively) | 7,662,968 | 254,475 | 4.44 | % | 7,278,211 | 245,087 | 4.50 | % | |||||||||||
Mortgage-backed securities (c) | 557,846 | 8,327 | 1.99 | % | 462,474 | 6,374 | 1.84 | % | |||||||||||
Investment securities (c) (includes FTE adjustments of $848 and $1,134, respectively) | 367,585 | 5,366 | 1.95 | % | 325,427 | 5,662 | 2.32 | % | |||||||||||
FHLB stock | 7,553 | 172 | 3.04 | % | 32,702 | 1,086 | 4.44 | % | |||||||||||
Other interest-earning deposits | 201,643 | 1,440 | 0.94 | % | 57,996 | 243 | 0.55 | % | |||||||||||
Total interest-earning assets (includes FTE adjustments of $2,485 and $2,851, respectively) | 8,797,595 | 269,780 | 4.10 | % | 8,156,810 | 258,452 | 4.23 | % | |||||||||||
Noninterest earning assets (d) | 742,837 | 783,838 | |||||||||||||||||
Total assets | $ | 9,540,432 | $ | 8,940,648 | |||||||||||||||
Liabilities and shareholders’ equity: | |||||||||||||||||||
Interest-bearing liabilities: | |||||||||||||||||||
Savings deposits | $ | 1,699,455 | 2,300 | 0.18 | % | $ | 1,444,302 | 2,446 | 0.23 | % | |||||||||
Interest-bearing checking deposits | 1,436,442 | 696 | 0.06 | % | 1,134,669 | 378 | 0.04 | % | |||||||||||
Money market deposit accounts | 1,835,638 | 3,186 | 0.23 | % | 1,334,158 | 2,520 | 0.25 | % | |||||||||||
Time deposits | 1,513,565 | 10,904 | 0.96 | % | 1,625,936 | 12,262 | 1.01 | % | |||||||||||
Borrowed funds (e) | 123,168 | 161 | 0.17 | % | 743,353 | 10,213 | 1.84 | % | |||||||||||
Junior subordinated debentures | 111,213 | 3,503 | 4.15 | % | 111,213 | 3,389 | 4.00 | % | |||||||||||
Total interest-bearing liabilities | 6,719,481 | 20,750 | 0.41 | % | 6,393,631 | 31,208 | 0.65 | % | |||||||||||
Noninterest-bearing checking deposits (f) | 1,541,845 | 1,196,737 | |||||||||||||||||
Noninterest-bearing liabilities | 94,546 | 191,934 | |||||||||||||||||
Total liabilities | 8,355,872 | 7,782,302 | |||||||||||||||||
Shareholders’ equity | 1,184,560 | 1,158,346 | |||||||||||||||||
Total liabilities and shareholders’ equity | $ | 9,540,432 | $ | 8,940,648 | |||||||||||||||
Net interest income/ Interest rate spread | 249,030 | 3.69 | % | 227,244 | 3.58 | % | |||||||||||||
Net interest-earning assets/ Net interest margin | $ | 2,078,114 | 3.77 | % | $ | 1,763,179 | 3.71 | % | |||||||||||
Ratio of interest-earning assets to interest-bearing liabilities | 1.31 | X | 1.28 | X |
For the six months ended June 30, 2022 vs. 2021 | |||||||||||||||||
Increase/(decrease) due to | Total increase/(decrease) | ||||||||||||||||
Rate | Volume | ||||||||||||||||
Interest-earning assets: | |||||||||||||||||
Loans receivable | $ | (6,914) | (7,018) | (13,932) | |||||||||||||
Mortgage-backed securities | 813 | 2,825 | 3,638 | ||||||||||||||
Investment securities | 55 | 228 | 283 | ||||||||||||||
FHLB stock, at cost | 16 | (107) | (91) | ||||||||||||||
Other interest-earning deposits | 1,354 | 422 | 1,776 | ||||||||||||||
Total interest-earning assets | (4,676) | (3,650) | (8,326) | ||||||||||||||
Interest-bearing liabilities: | |||||||||||||||||
Savings deposits | (108) | 74 | (34) | ||||||||||||||
Interest-bearing demand deposits | (212) | 7 | (205) | ||||||||||||||
Money market deposit accounts | (21) | 64 | 43 | ||||||||||||||
Time deposits | (2,073) | (927) | (3,000) | ||||||||||||||
Borrowed funds | 43 | (22) | 21 | ||||||||||||||
Subordinated debt | (38) | (30) | (68) | ||||||||||||||
Junior subordinated debentures | 297 | (4) | 293 | ||||||||||||||
Total interest-bearing liabilities | (2,112) | (838) | (2,950) | ||||||||||||||
Net change in net interest income | $ | (2,564) | (2,812) | (5,376) |
Rate | Volume | Net Change | |||||||
Interest earning assets: | |||||||||
Loans receivable | $ | (2,256 | ) | 11,643 | 9,387 | ||||
Mortgage-backed securities | 639 | 1,314 | 1,953 | ||||||
Investment securities | (1,029 | ) | 733 | (296 | ) | ||||
FHLB stock | (209 | ) | (705 | ) | (914 | ) | |||
Other interest-earning deposits | 373 | 825 | 1,198 | ||||||
Total interest-earning assets | (2,482 | ) | 13,810 | 11,328 | |||||
Interest-bearing liabilities: | |||||||||
Savings deposits | (489 | ) | 343 | (146 | ) | ||||
Interest-bearing checking deposits | 172 | 146 | 318 | ||||||
Money market deposit accounts | (202 | ) | 868 | 666 | |||||
Time deposits | (511 | ) | (847 | ) | (1,358 | ) | |||
Borrowed funds | (4,232 | ) | (5,820 | ) | (10,052 | ) | |||
Junior subordinated debentures | 114 | — | 114 | ||||||
Total interest-bearing liabilities | (5,148 | ) | (5,310 | ) | (10,458 | ) | |||
Net change in net interest income | $ | 2,666 | 19,120 | 21,786 |
Increase | Decrease | |||||||||||||||||||||||||
Parallel shift in interest rates over the next 12 months | 100 bps | 200 bps | 300 bps | 100 bps | ||||||||||||||||||||||
Projected percentage increase/(decrease) in net interest income | 0.2 | % | 0.1 | % | (0.1) | % | (8.0 | %) | ||||||||||||||||||
Projected percentage increase/(decrease) in net income | 0.7 | % | 0.5 | % | 0.2 | % | (18.0 | %) | ||||||||||||||||||
Projected increase/(decrease) in return on average equity | 0.7 | % | 0.5 | % | 0.2 | % | (17.3 | %) | ||||||||||||||||||
Projected increase/(decrease) in earnings per share | $ | 0.01 | $ | — | $ | — | $ | (0.21) | ||||||||||||||||||
Projected percentage increase/(decrease) in market value of equity | (6.4 | %) | (12.9 | %) | (19.1 | %) | 2.5 | % |
Increase | Decrease | |||||||||||||||
Non-parallel shift in interest rates over the next 12 months | 100 bps | 200 bps | 300 bps | 100 bps | ||||||||||||
Projected percentage increase/ (decrease) in net interest income | (0.2 | )% | (0.2 | )% | (0.1 | )% | (4.6 | )% | ||||||||
Projected percentage increase/ (decrease) in net income | 0.5 | % | 1.2 | % | 2.6 | % | (11.0 | )% | ||||||||
Projected increase/ (decrease) in return on average equity | 0.6 | % | 1.1 | % | 2.5 | % | (10.5 | )% | ||||||||
Projected increase/ (decrease) in earnings per share | $ | 0.01 | $ | 0.01 | $ | 0.03 | $ | (0.12 | ) | |||||||
Projected percentage increase/ (decrease) in market value of equity | (4.6 | )% | (9.6 | )% | (13.2 | )% | (1.8 | )% |
Certification of the Chief Executive Officer | ||||||
Certification of the Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |
101.INS | The instance document does not appear in the interactive data file because its XBRL | ||||
101.SCH | XBRL Taxonomy Extension Schema | ||||
101.CAL | XBRL Taxonomy Extension Calculation Linkbase | ||||
101.DEF | XBRL Taxonomy Extension Definition Linkbase | ||||
101.LAB | XBRL Taxonomy Extension Label | ||||
101.PRE | XBRL Taxonomy Extension Presentation Linkbase | ||||
104 | The cover page of this Quarterly Report on Form 10-Q, formatted in inline XBRL. |
NORTHWEST BANCSHARES, INC. | |||||||||||
(Registrant) | |||||||||||
Date: | By: | /s/ William | |||||||||
William | |||||||||||
Chief Financial Officer and Interim President and Chief Executive Officer | |||||||||||
(Duly Authorized Officer) | |||||||||||
Date: | By: | /s/ | |||||||||
(Principal Accounting Officer) | |||||||||||