Maryland | 27-0950358 | |||||||||||||||||||
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |||||||||||||||||||
Columbus | ||||||||||||||||||||
(Address of Principal Executive Offices) | (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 | |||||||||||||
June 30, 2021 | December 31, 2020 | March 31, 2022 | December 31, 2021 | |||||||||||||||||||
Assets | Assets | Assets | ||||||||||||||||||||
Cash and cash equivalents | Cash and cash equivalents | $ | 857,152 | 736,277 | Cash and cash equivalents | $ | 1,161,006 | 1,279,259 | ||||||||||||||
Marketable securities available-for-sale (amortized cost of $1,593,813 and $1,375,685, respectively) | 1,599,024 | 1,398,941 | ||||||||||||||||||||
Marketable securities held-to-maturity (fair value of $632,620 and $179,666, respectively) | 639,424 | 178,887 | ||||||||||||||||||||
Marketable securities available-for-sale (amortized cost of $1,542,170 and $1,565,002, respectively) | Marketable securities available-for-sale (amortized cost of $1,542,170 and $1,565,002, respectively) | 1,442,098 | 1,548,592 | |||||||||||||||||||
Marketable securities held-to-maturity (fair value of $677,376 and $751,513, respectively) | Marketable securities held-to-maturity (fair value of $677,376 and $751,513, respectively) | 737,730 | 768,154 | |||||||||||||||||||
Total cash and cash equivalents and marketable securities | Total cash and cash equivalents and marketable securities | 3,095,600 | 2,314,105 | Total cash and cash equivalents and marketable securities | 3,340,834 | 3,596,005 | ||||||||||||||||
Loans held-for-sale | Loans held-for-sale | 29,055 | 58,786 | Loans held-for-sale | 19,272 | 25,056 | ||||||||||||||||
Loans held for investment | Loans held for investment | 10,280,925 | 10,522,063 | Loans held for investment | 10,119,762 | 9,991,336 | ||||||||||||||||
Allowance for credit losses | Allowance for credit losses | (117,330) | (134,427) | Allowance for credit losses | (99,295) | (102,241) | ||||||||||||||||
Loans receivable, net | Loans receivable, net | 10,192,650 | 10,446,422 | Loans receivable, net | 10,039,739 | 9,914,151 | ||||||||||||||||
FHLB stock, at cost | FHLB stock, at cost | 23,287 | 21,748 | FHLB stock, at cost | 13,318 | 14,184 | ||||||||||||||||
Accrued interest receivable | Accrued interest receivable | 27,585 | 35,554 | Accrued interest receivable | 26,268 | 25,599 | ||||||||||||||||
Real estate owned, net | Real estate owned, net | 1,353 | 2,232 | Real estate owned, net | 929 | 873 | ||||||||||||||||
Premises and equipment, net | Premises and equipment, net | 156,076 | 161,538 | Premises and equipment, net | 149,970 | 156,524 | ||||||||||||||||
Bank-owned life insurance | Bank-owned life insurance | 253,539 | 253,951 | Bank-owned life insurance | 254,109 | 256,213 | ||||||||||||||||
Goodwill | Goodwill | 380,997 | 382,279 | Goodwill | 380,997 | 380,997 | ||||||||||||||||
Other intangible assets, net | Other intangible assets, net | 15,362 | 19,936 | Other intangible assets, net | 11,654 | 12,836 | ||||||||||||||||
Other assets | Other assets | 151,607 | 168,503 | Other assets | 193,365 | 144,126 | ||||||||||||||||
Total assets | Total assets | $ | 14,298,056 | 13,806,268 | Total assets | $ | 14,411,183 | 14,501,508 | ||||||||||||||
Liabilities and shareholders’ equity | Liabilities and shareholders’ equity | Liabilities and shareholders’ equity | ||||||||||||||||||||
Liabilities: | Liabilities: | Liabilities: | ||||||||||||||||||||
Noninterest-bearing demand deposits | Noninterest-bearing demand deposits | $ | 3,002,632 | 2,716,224 | Noninterest-bearing demand deposits | $ | 3,128,849 | 3,099,526 | ||||||||||||||
Interest-bearing demand deposits | Interest-bearing demand deposits | 2,824,219 | 2,755,950 | Interest-bearing demand deposits | 2,891,622 | 2,940,442 | ||||||||||||||||
Money market deposit accounts | Money market deposit accounts | 2,538,607 | 2,437,539 | Money market deposit accounts | 2,680,613 | 2,629,882 | ||||||||||||||||
Savings deposits | Savings deposits | 2,262,152 | 2,047,424 | Savings deposits | 2,367,438 | 2,303,760 | ||||||||||||||||
Time deposits | Time deposits | 1,463,098 | 1,642,096 | Time deposits | 1,251,878 | 1,327,555 | ||||||||||||||||
Total deposits | Total deposits | 12,090,708 | 11,599,233 | Total deposits | 12,320,400 | 12,301,165 | ||||||||||||||||
Borrowed funds | Borrowed funds | 257,377 | 283,044 | Borrowed funds | 121,436 | 139,093 | ||||||||||||||||
Subordinated debt | Subordinated debt | 123,670 | 123,575 | |||||||||||||||||||
Junior subordinated debentures | Junior subordinated debentures | 128,924 | 128,794 | Junior subordinated debentures | 129,119 | 129,054 | ||||||||||||||||
Advances by borrowers for taxes and insurance | Advances by borrowers for taxes and insurance | 53,608 | 45,230 | Advances by borrowers for taxes and insurance | 44,022 | 44,582 | ||||||||||||||||
Accrued interest payable | Accrued interest payable | 1,820 | 2,054 | Accrued interest payable | 563 | 1,804 | ||||||||||||||||
Other liabilities | Other liabilities | 190,258 | 209,210 | Other liabilities | 148,461 | 178,664 | ||||||||||||||||
Total liabilities | Total liabilities | 12,722,695 | 12,267,565 | Total liabilities | 12,887,671 | 12,917,937 | ||||||||||||||||
Shareholders’ equity: | Shareholders’ equity: | Shareholders’ equity: | ||||||||||||||||||||
Preferred stock, $0.01 par value: 50,000,000 authorized, 0 shares issued | 0 | 0 | ||||||||||||||||||||
Common stock, $0.01 par value: 500,000,000 shares authorized, 127,907,885 and 127,019,452 shares issued and outstanding, respectively | 1,279 | 1,270 | ||||||||||||||||||||
Preferred stock, $0.01 par value: 50,000,000 authorized, no shares issued | Preferred stock, $0.01 par value: 50,000,000 authorized, no shares issued | — | — | |||||||||||||||||||
Common stock, $0.01 par value: 500,000,000 shares authorized, 126,686,373 and 126,612,183 shares issued and outstanding, respectively | Common stock, $0.01 par value: 500,000,000 shares authorized, 126,686,373 and 126,612,183 shares issued and outstanding, respectively | 1,267 | 1,266 | |||||||||||||||||||
Additional paid-in capital | Additional paid-in capital | 1,025,174 | 1,015,502 | Additional paid-in capital | 1,012,308 | 1,010,405 | ||||||||||||||||
Retained earnings | Retained earnings | 595,100 | 555,480 | Retained earnings | 612,481 | 609,529 | ||||||||||||||||
Accumulated other comprehensive loss | Accumulated other comprehensive loss | (46,192) | (33,549) | Accumulated other comprehensive loss | (102,544) | (37,629) | ||||||||||||||||
Total shareholders’ equity | Total shareholders’ equity | 1,575,361 | 1,538,703 | Total shareholders’ equity | 1,523,512 | 1,583,571 | ||||||||||||||||
Total liabilities and shareholders’ equity | Total liabilities and shareholders’ equity | $ | 14,298,056 | 13,806,268 | Total liabilities and shareholders’ equity | $ | 14,411,183 | 14,501,508 |
Quarter ended June 30, | Six months ended June 30, | Quarter ended March 31, | ||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2022 | 2021 | |||||||||||||||||||||||||||||||||||||||||
Interest income: | Interest income: | Interest income: | ||||||||||||||||||||||||||||||||||||||||||||
Loans receivable | Loans receivable | $ | 95,255 | 103,012 | 197,573 | 197,985 | Loans receivable | $ | 88,174 | 102,318 | ||||||||||||||||||||||||||||||||||||
Mortgage-backed securities | Mortgage-backed securities | 5,680 | 4,038 | 9,880 | 8,213 | Mortgage-backed securities | 6,360 | 4,200 | ||||||||||||||||||||||||||||||||||||||
Taxable investment securities | Taxable investment securities | 693 | 439 | 1,327 | 1,087 | Taxable investment securities | 677 | 634 | ||||||||||||||||||||||||||||||||||||||
Tax-free investment securities | Tax-free investment securities | 594 | 564 | 1,169 | 749 | Tax-free investment securities | 674 | 575 | ||||||||||||||||||||||||||||||||||||||
FHLB stock dividends | FHLB stock dividends | 138 | 309 | 254 | 571 | FHLB stock dividends | 81 | 116 | ||||||||||||||||||||||||||||||||||||||
Interest-earning deposits | Interest-earning deposits | 192 | 185 | 375 | 320 | Interest-earning deposits | 467 | 183 | ||||||||||||||||||||||||||||||||||||||
Total interest income | Total interest income | 102,552 | 108,547 | 210,578 | 208,925 | Total interest income | 96,433 | 108,026 | ||||||||||||||||||||||||||||||||||||||
Interest expense: | Interest expense: | Interest expense: | ||||||||||||||||||||||||||||||||||||||||||||
Deposits | Deposits | 4,773 | 9,336 | 10,287 | 20,739 | Deposits | 3,751 | 5,514 | ||||||||||||||||||||||||||||||||||||||
Borrowed funds | Borrowed funds | 2,050 | 1,133 | 4,104 | 2,880 | Borrowed funds | 2,059 | 2,054 | ||||||||||||||||||||||||||||||||||||||
Total interest expense | Total interest expense | 6,823 | 10,469 | 14,391 | 23,619 | Total interest expense | 5,810 | 7,568 | ||||||||||||||||||||||||||||||||||||||
Net interest income | Net interest income | 95,729 | 98,078 | 196,187 | 185,306 | Net interest income | 90,623 | 100,458 | ||||||||||||||||||||||||||||||||||||||
Provision for credit losses | Provision for credit losses | 0 | 51,750 | (5,620) | 79,387 | Provision for credit losses | (1,481) | (5,620) | ||||||||||||||||||||||||||||||||||||||
Net interest income after provision for credit losses | Net interest income after provision for credit losses | 95,729 | 46,328 | 201,807 | 105,919 | Net interest income after provision for credit losses | 92,104 | 106,078 | ||||||||||||||||||||||||||||||||||||||
Noninterest income: | Noninterest income: | Noninterest income: | ||||||||||||||||||||||||||||||||||||||||||||
Gain/(loss) on sale of investments | (105) | (8) | (126) | 173 | ||||||||||||||||||||||||||||||||||||||||||
Gain on sale of loans | 0 | 0 | 0 | 1,302 | ||||||||||||||||||||||||||||||||||||||||||
Loss on sale of investments | Loss on sale of investments | (2) | (21) | |||||||||||||||||||||||||||||||||||||||||||
Service charges and fees | Service charges and fees | 12,744 | 13,069 | 25,138 | 28,185 | Service charges and fees | 13,067 | 12,394 | ||||||||||||||||||||||||||||||||||||||
Trust and other financial services income | Trust and other financial services income | 7,435 | 4,823 | 13,919 | 9,824 | Trust and other financial services income | 7,012 | 6,484 | ||||||||||||||||||||||||||||||||||||||
Insurance commission income | Insurance commission income | 1,043 | 2,395 | 3,589 | 4,767 | Insurance commission income | — | 2,546 | ||||||||||||||||||||||||||||||||||||||
Gain/(loss) on real estate owned, net | 166 | (97) | 124 | (188) | ||||||||||||||||||||||||||||||||||||||||||
Loss on real estate owned, net | Loss on real estate owned, net | (29) | (42) | |||||||||||||||||||||||||||||||||||||||||||
Income from bank-owned life insurance | Income from bank-owned life insurance | 1,639 | 1,248 | 3,375 | 2,284 | Income from bank-owned life insurance | 1,983 | 1,736 | ||||||||||||||||||||||||||||||||||||||
Mortgage banking income | Mortgage banking income | 3,811 | 12,022 | 9,831 | 13,216 | Mortgage banking income | 1,465 | 6,020 | ||||||||||||||||||||||||||||||||||||||
Gain on sale of insurance business | 25,327 | 0 | 25,327 | 0 | ||||||||||||||||||||||||||||||||||||||||||
Other operating income | Other operating income | 2,648 | 2,044 | 5,484 | 3,909 | Other operating income | 2,244 | 2,836 | ||||||||||||||||||||||||||||||||||||||
Total noninterest income | Total noninterest income | 54,708 | 35,496 | 86,661 | 63,472 | Total noninterest income | 25,740 | 31,953 | ||||||||||||||||||||||||||||||||||||||
Noninterest expense: | Noninterest expense: | Noninterest expense: | ||||||||||||||||||||||||||||||||||||||||||||
Compensation and employee benefits | Compensation and employee benefits | 48,894 | 40,049 | 96,133 | 82,795 | Compensation and employee benefits | 46,917 | 47,239 | ||||||||||||||||||||||||||||||||||||||
Premises and occupancy costs | Premises and occupancy costs | 7,410 | 7,195 | 16,224 | 14,666 | Premises and occupancy costs | 7,797 | 8,814 | ||||||||||||||||||||||||||||||||||||||
Office operations | Office operations | 3,317 | 3,711 | 6,482 | 7,093 | Office operations | 3,383 | 3,165 | ||||||||||||||||||||||||||||||||||||||
Collections expense | Collections expense | 303 | 644 | 919 | 1,118 | Collections expense | 520 | 616 | ||||||||||||||||||||||||||||||||||||||
Processing expenses | Processing expenses | 15,151 | 11,680 | 28,607 | 22,822 | Processing expenses | 12,548 | 13,456 | ||||||||||||||||||||||||||||||||||||||
Marketing expenses | Marketing expenses | 2,101 | 2,047 | 4,081 | 3,554 | Marketing expenses | 2,128 | 1,980 | ||||||||||||||||||||||||||||||||||||||
Federal deposit insurance premiums | Federal deposit insurance premiums | 1,353 | 1,618 | 2,660 | 1,618 | Federal deposit insurance premiums | 1,129 | 1,307 | ||||||||||||||||||||||||||||||||||||||
Professional services | Professional services | 4,231 | 2,825 | 8,813 | 5,637 | Professional services | 2,573 | 4,582 | ||||||||||||||||||||||||||||||||||||||
Amortization of intangible assets | Amortization of intangible assets | 1,433 | 1,760 | 3,027 | 3,411 | Amortization of intangible assets | 1,183 | 1,594 | ||||||||||||||||||||||||||||||||||||||
Real estate owned expense | Real estate owned expense | 85 | 89 | 160 | 184 | Real estate owned expense | 37 | 75 | ||||||||||||||||||||||||||||||||||||||
Merger, asset disposition and restructuring expense | Merger, asset disposition and restructuring expense | 632 | 9,679 | 641 | 12,137 | Merger, asset disposition and restructuring expense | 1,374 | 9 | ||||||||||||||||||||||||||||||||||||||
Other expenses | Other expenses | 1,422 | 7,866 | 4,776 | 12,739 | Other expenses | 2,355 | 3,354 | ||||||||||||||||||||||||||||||||||||||
Total noninterest expense | Total noninterest expense | 86,332 | 89,163 | 172,523 | 167,774 | Total noninterest expense | 81,944 | 86,191 | ||||||||||||||||||||||||||||||||||||||
Income/(loss) before income taxes | 64,105 | (7,339) | 115,945 | 1,617 | ||||||||||||||||||||||||||||||||||||||||||
Federal and state income taxes expense/(benefit) | 15,138 | (1,139) | 26,741 | (122) | ||||||||||||||||||||||||||||||||||||||||||
Net income/(loss) | $ | 48,967 | (6,200) | 89,204 | 1,739 | |||||||||||||||||||||||||||||||||||||||||
Basic earnings/(loss) per share | $ | 0.38 | (0.05) | 0.70 | 0.02 | |||||||||||||||||||||||||||||||||||||||||
Diluted earnings/(loss) per share | $ | 0.38 | (0.05) | 0.70 | 0.02 | |||||||||||||||||||||||||||||||||||||||||
Income before income taxes | Income before income taxes | 35,900 | 51,840 | |||||||||||||||||||||||||||||||||||||||||||
Federal and state income taxes expense | Federal and state income taxes expense | 7,613 | 11,603 | |||||||||||||||||||||||||||||||||||||||||||
Net income | Net income | $ | 28,287 | 40,237 | ||||||||||||||||||||||||||||||||||||||||||
Basic earnings per share | Basic earnings per share | $ | 0.22 | 0.32 | ||||||||||||||||||||||||||||||||||||||||||
Diluted earnings per share | Diluted earnings per share | $ | 0.22 | 0.32 |
Quarter ended June 30, | Six months ended June 30, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
Net income | $ | 48,967 | (6,200) | 89,204 | 1,739 | ||||||||||||||||||
Other comprehensive income net of tax: | |||||||||||||||||||||||
Net unrealized holding gains/(losses) on marketable securities: | |||||||||||||||||||||||
Unrealized holding gains/(losses), net of tax of ($1,245), ($1,902), $4,736, and ($5,179) respectively | 4,322 | 4,790 | (13,099) | 12,947 | |||||||||||||||||||
Reclassification adjustment for (gains)/losses included in net income, net of tax of $43, $13, $65, and ($1) respectively | (136) | (35) | (211) | 2 | |||||||||||||||||||
Net unrealized holding gains/(losses) on marketable securities | 4,186 | 4,755 | (13,310) | 12,949 | |||||||||||||||||||
Change in fair value of interest rate swaps, net of tax of $0, $47, $0, and $209 respectively | 0 | (537) | 0 | (946) | |||||||||||||||||||
Defined benefit plan: | |||||||||||||||||||||||
Actuarial reclassification adjustments for prior period service costs and actuarial losses included in net income, net of tax of ($128), ($99), ($258), and ($198) respectively | 334 | 249 | 667 | 498 | |||||||||||||||||||
Other comprehensive income/(loss) | 4,520 | 4,467 | (12,643) | 12,501 | |||||||||||||||||||
Total comprehensive income | $ | 53,487 | (1,733) | 76,561 | 14,240 |
Quarter ended March 31, | |||||||||||||||||||||||
2022 | 2021 | ||||||||||||||||||||||
Net income | $ | 28,287 | 40,237 | ||||||||||||||||||||
Other comprehensive income net of tax: | |||||||||||||||||||||||
Net unrealized holding losses on marketable securities: | |||||||||||||||||||||||
Unrealized holding losses, net of tax of $18,877 and $5,981, respectively | (64,783) | (17,421) | |||||||||||||||||||||
Reclassification adjustment for gains included in net income, net of tax of $0 and $22, respectively | (1) | (75) | |||||||||||||||||||||
Net unrealized holding losses on marketable securities | (64,784) | (17,496) | |||||||||||||||||||||
Defined benefit plan: | |||||||||||||||||||||||
Actuarial reclassification adjustments for prior period service costs and actuarial (gains)/losses included in net income, net of tax of $50 and ($129), respectively | (131) | 333 | |||||||||||||||||||||
Other comprehensive loss | (64,915) | (17,163) | |||||||||||||||||||||
Total comprehensive (loss)/income | $ | (36,628) | 23,074 |
Additional paid-in capital | Retained earnings | Accumulated other comprehensive income/(loss) | Total shareholders’ equity | Additional paid-in capital | Retained earnings | Accumulated other comprehensive loss | Total shareholders’ equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock | 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 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Quarter ended March 31, 2022 | Quarter ended March 31, 2022 | Shares | Amount | Additional paid-in capital | Retained earnings | Accumulated other comprehensive loss | Total shareholders’ equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance at December 31, 2021 | Beginning balance at December 31, 2021 | 126,612,183 | $ | 1,266 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Comprehensive income: | Comprehensive income: | Comprehensive income: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income | Net income | — | — | — | 48,967 | — | 48,967 | Net income | — | — | — | 28,287 | — | 28,287 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive loss, net of tax of ($1,331) | — | — | — | — | 4,520 | 4,520 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive loss, net of tax of $18,927 | Other comprehensive loss, net of tax of $18,927 | — | — | — | — | (64,915) | (64,915) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total comprehensive income | — | — | — | 48,967 | 4,520 | 53,487 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total comprehensive income/(loss) | Total comprehensive income/(loss) | — | — | — | 28,287 | (64,915) | (36,628) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise of stock options | Exercise of stock options | 418,916 | 4 | 5,102 | — | — | 5,106 | Exercise of stock options | 101,613 | 1 | 1,204 | — | — | 1,205 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock-based compensation expense | Stock-based compensation expense | 320,755 | 3 | 1,715 | — | — | 1,718 | Stock-based compensation expense | 10,222 | — | 699 | — | — | 699 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share repurchases | (34,460) | — | (465) | — | — | (465) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock-based compensation forfeited | Stock-based compensation forfeited | (19,974) | — | — | — | — | — | Stock-based compensation forfeited | (37,645) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends paid ($0.20 per share) | Dividends paid ($0.20 per share) | — | — | — | (25,479) | — | (25,479) | Dividends paid ($0.20 per share) | — | — | — | (25,335) | — | (25,335) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance at June 30, 2021 | 127,907,885 | $ | 1,279 | 1,025,174 | 595,100 | (46,192) | 1,575,361 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance at March 31, 2022 | Ending balance at March 31, 2022 | 126,686,373 | $ | 1,267 | 1,012,308 | 612,481 | (102,544) | 1,523,512 |
Additional paid-in capital | Retained earnings | Accumulated other comprehensive income/(loss) | Total shareholders’ equity | ||||||||||||||||||||||||||||||||||||||
Common stock | |||||||||||||||||||||||||||||||||||||||||
Quarter ended June 30, 2020 | Shares | Amount | |||||||||||||||||||||||||||||||||||||||
Beginning balance at March 31, 2020 | 106,933,483 | $ | 1,069 | 808,250 | 561,380 | (28,907) | 1,341,792 | ||||||||||||||||||||||||||||||||||
Comprehensive income: | |||||||||||||||||||||||||||||||||||||||||
Net loss | — | — | — | (6,200) | — | (6,200) | |||||||||||||||||||||||||||||||||||
Other comprehensive income, net of tax of ($1,992) | — | — | — | — | 4,467 | 4,467 | |||||||||||||||||||||||||||||||||||
Total comprehensive income/(loss) | — | — | — | (6,200) | 4,467 | (1,733) | |||||||||||||||||||||||||||||||||||
Acquisition of MutualBank | 20,658,957 | 206 | 213,200 | — | — | 213,406 | |||||||||||||||||||||||||||||||||||
Stock-based compensation expense | 282,691 | 3 | 1,528 | — | — | 1,531 | |||||||||||||||||||||||||||||||||||
Stock-based compensation forfeited | (36,731) | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Other | — | — | 105 | — | — | 105 | |||||||||||||||||||||||||||||||||||
Dividends paid ($0.19 per share) | — | — | — | (24,252) | — | (24,252) | |||||||||||||||||||||||||||||||||||
Ending balance at June 30, 2020 | 127,838,400 | $ | 1,278 | 1,023,083 | 530,928 | (24,440) | 1,530,849 |
Additional paid-in capital | Retained earnings | Accumulated other comprehensive income/(loss) | Total shareholders’ equity | ||||||||||||||||||||||||||||||||||||||
Common stock | |||||||||||||||||||||||||||||||||||||||||
Quarter ended March 31, 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 | — | — | — | 40,237 | — | 40,237 | |||||||||||||||||||||||||||||||||||
Other comprehensive loss, net of tax of $5,874 | — | — | — | — | (17,163) | (17,163) | |||||||||||||||||||||||||||||||||||
Total comprehensive income/(loss) | — | — | — | 40,237 | (17,163) | 23,074 | |||||||||||||||||||||||||||||||||||
Exercise of stock options | 567,429 | 6 | 6,921 | — | — | 6,927 | |||||||||||||||||||||||||||||||||||
Stock-based compensation expense | 1,930 | — | 961 | — | — | 961 | |||||||||||||||||||||||||||||||||||
Share repurchases | (353,552) | (4) | (4,562) | — | — | (4,566) | |||||||||||||||||||||||||||||||||||
Stock-based compensation forfeited | (12,611) | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Dividends paid ($0.19 per share) | — | — | — | (24,105) | — | (24,105) | |||||||||||||||||||||||||||||||||||
Ending balance at March 31, 2021 | 127,222,648 | $ | 1,272 | 1,018,822 | 571,612 | (50,712) | 1,540,994 |
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 |
Additional paid-in capital | Retained earnings | Accumulated other comprehensive loss | Total shareholders’ equity | ||||||||||||||||||||||||||||||||||||||
Common stock | |||||||||||||||||||||||||||||||||||||||||
Six months ended June 30, 2020 | Shares | Amount | |||||||||||||||||||||||||||||||||||||||
Beginning balance at December 31, 2019 | 106,859,088 | $ | 1,069 | 805,750 | 583,407 | (36,941) | 1,353,285 | ||||||||||||||||||||||||||||||||||
Comprehensive income: | |||||||||||||||||||||||||||||||||||||||||
Net income | — | — | — | 1,739 | — | 1,739 | |||||||||||||||||||||||||||||||||||
Other comprehensive income, net of tax of ($5,209) | — | — | — | — | 12,501 | 12,501 | |||||||||||||||||||||||||||||||||||
Total comprehensive income | — | — | — | 1,739 | 12,501 | 14,240 | |||||||||||||||||||||||||||||||||||
Acquisition of MutualFirst Financial, Inc. | 20,658,957 | 206 | 213,200 | — | — | 213,406 | |||||||||||||||||||||||||||||||||||
Reclassification due to adoption of ASU No. 2016-13 | — | — | — | (9,649) | — | (9,649) | |||||||||||||||||||||||||||||||||||
Exercise of stock options | 87,305 | 1 | 1,005 | — | — | 1,006 | |||||||||||||||||||||||||||||||||||
Stock-based compensation expense | 282,691 | 3 | 3,023 | — | — | 3,026 | |||||||||||||||||||||||||||||||||||
Stock-based compensation forfeited | (49,641) | (1) | — | — | — | (1) | |||||||||||||||||||||||||||||||||||
Other | — | — | 105 | — | — | 105 | |||||||||||||||||||||||||||||||||||
Dividends paid ($0.38 per share) | — | — | — | (44,569) | — | (44,569) | |||||||||||||||||||||||||||||||||||
Ending balance at June 30, 2020 | 127,838,400 | $ | 1,278 | 1,023,083 | 530,928 | (24,440) | 1,530,849 |
Six months ended June 30, | Quarter ended March 31, | |||||||||||||||||||||
2021 | 2020 | 2022 | 2021 | |||||||||||||||||||
Operating activities: | Operating activities: | Operating activities: | ||||||||||||||||||||
Net income | Net income | $ | 89,204 | 1,739 | Net income | $ | 28,287 | 40,237 | ||||||||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||||||||||||
Adjustments to reconcile net income to net cash provided by/(used in) operating activities: | Adjustments to reconcile net income to net cash provided by/(used in) operating activities: | |||||||||||||||||||||
Provision for credit losses | Provision for credit losses | (5,620) | 79,387 | Provision for credit losses | (1,481) | (5,620) | ||||||||||||||||
Net gain on sale of assets | (570) | (164) | ||||||||||||||||||||
Net loss/(gain) on sale of assets | Net loss/(gain) on sale of assets | 780 | (262) | |||||||||||||||||||
Mortgage banking activity | Mortgage banking activity | (13,818) | (6,076) | Mortgage banking activity | 677 | (8,429) | ||||||||||||||||
Gain on sale of insurance business | (25,327) | 0 | ||||||||||||||||||||
Net depreciation, amortization and accretion | Net depreciation, amortization and accretion | 3,058 | 4,046 | Net depreciation, amortization and accretion | 3,595 | 6,514 | ||||||||||||||||
(Increase)/decrease in other assets | (Increase)/decrease in other assets | 26,603 | (46,883) | (Increase)/decrease in other assets | (30,666) | 33,746 | ||||||||||||||||
Increase/(decrease) in other liabilities | (18,261) | 73,401 | ||||||||||||||||||||
Decrease in other liabilities | Decrease in other liabilities | (31,625) | (21,034) | |||||||||||||||||||
Net amortization on marketable securities | Net amortization on marketable securities | 4,040 | 977 | Net amortization on marketable securities | 1,505 | 2,154 | ||||||||||||||||
Noncash compensation expense related to stock benefit plans | Noncash compensation expense related to stock benefit plans | 2,679 | 3,026 | Noncash compensation expense related to stock benefit plans | 699 | 961 | ||||||||||||||||
Noncash write-down of real estate owned | Noncash write-down of real estate owned | 128 | 220 | Noncash write-down of real estate owned | 29 | 123 | ||||||||||||||||
Deferred income tax (benefit)/expense | 900 | (3,470) | ||||||||||||||||||||
Origination of loans held-for-sale | Origination of loans held-for-sale | (420,530) | (183,040) | Origination of loans held-for-sale | (104,535) | (240,765) | ||||||||||||||||
Proceeds from sale of loans held-for-sale | Proceeds from sale of loans held-for-sale | 462,522 | 164,202 | Proceeds from sale of loans held-for-sale | 110,278 | 260,394 | ||||||||||||||||
Net cash provided by operating activities | 105,008 | 87,365 | ||||||||||||||||||||
Net cash (used in)/provided by operating activities | Net cash (used in)/provided by operating activities | (22,457) | 68,019 | |||||||||||||||||||
Investing activities: | Investing activities: | Investing activities: | ||||||||||||||||||||
Purchase of marketable securities held-to-maturity | Purchase of marketable securities held-to-maturity | (479,165) | 0 | Purchase of marketable securities held-to-maturity | — | (428,861) | ||||||||||||||||
Purchase of marketable securities available-for-sale | Purchase of marketable securities available-for-sale | (509,499) | (404,310) | Purchase of marketable securities available-for-sale | (61,640) | (220,666) | ||||||||||||||||
Proceeds from maturities and principal reductions of marketable securities held-to-maturity | Proceeds from maturities and principal reductions of marketable securities held-to-maturity | 18,261 | 1,615 | Proceeds from maturities and principal reductions of marketable securities held-to-maturity | 30,092 | 3,374 | ||||||||||||||||
Proceeds from maturities and principal reductions of marketable securities available-for-sale | Proceeds from maturities and principal reductions of marketable securities available-for-sale | 225,823 | 169,602 | Proceeds from maturities and principal reductions of marketable securities available-for-sale | 83,295 | 128,556 | ||||||||||||||||
Proceeds from sale of marketable securities available-for-sale | Proceeds from sale of marketable securities available-for-sale | 61,748 | 0 | Proceeds from sale of marketable securities available-for-sale | — | 35,357 | ||||||||||||||||
Proceeds from bank-owned life insurance | Proceeds from bank-owned life insurance | 3,984 | 0 | Proceeds from bank-owned life insurance | 1,354 | 1,750 | ||||||||||||||||
Loan originations | Loan originations | (2,056,750) | (2,466,315) | Loan originations | (901,499) | (975,141) | ||||||||||||||||
Loan purchases | Loan purchases | (210,775) | — | |||||||||||||||||||
Proceeds from loan maturities and principal reductions | Proceeds from loan maturities and principal reductions | 2,292,701 | 1,896,118 | Proceeds from loan maturities and principal reductions | 985,218 | 1,169,026 | ||||||||||||||||
Proceeds from sale of loans held for investment | 0 | 50,791 | ||||||||||||||||||||
Net proceeds/(redemptions) of FHLB stock | Net proceeds/(redemptions) of FHLB stock | (1,539) | 2,313 | Net proceeds/(redemptions) of FHLB stock | 866 | (113) | ||||||||||||||||
Proceeds from sale of real estate owned | Proceeds from sale of real estate owned | 1,431 | 594 | Proceeds from sale of real estate owned | — | 479 | ||||||||||||||||
Proceeds from sale of real estate owned for investment, net | Proceeds from sale of real estate owned for investment, net | 153 | 303 | Proceeds from sale of real estate owned for investment, net | 76 | 76 | ||||||||||||||||
Purchase of premises and equipment | (1,005) | (7,815) | ||||||||||||||||||||
Proceeds from the sale of insurance business | 28,238 | 0 | ||||||||||||||||||||
Acquisitions, net of cash received | 0 | 261,712 | ||||||||||||||||||||
Disposals/(purchases) of premises and equipment, net | Disposals/(purchases) of premises and equipment, net | 329 | (285) | |||||||||||||||||||
Net cash used in investing activities | Net cash used in investing activities | (415,619) | (495,392) | Net cash used in investing activities | (72,684) | (286,448) |
Six months ended June 30, | Three months ended March 31, | |||||||||||||||||||||
2021 | 2020 | 2022 | 2021 | |||||||||||||||||||
Financing activities: | Financing activities: | Financing activities: | ||||||||||||||||||||
Net increase in deposits | Net increase in deposits | $ | 491,475 | 1,253,895 | Net increase in deposits | $ | 19,235 | 513,861 | ||||||||||||||
Repayments of long-term borrowings | Repayments of long-term borrowings | (22,000) | (31,200) | Repayments of long-term borrowings | — | (20,000) | ||||||||||||||||
Net decrease in short-term borrowings | Net decrease in short-term borrowings | (3,785) | (6,738) | Net decrease in short-term borrowings | (17,657) | (9,469) | ||||||||||||||||
Increase in advances by borrowers for taxes and insurance | 8,378 | 12,014 | ||||||||||||||||||||
Decrease in advances by borrowers for taxes and insurance | Decrease in advances by borrowers for taxes and insurance | (560) | (1,206) | |||||||||||||||||||
Cash dividends paid on common stock | Cash dividends paid on common stock | (49,584) | (44,569) | Cash dividends paid on common stock | (25,335) | (24,105) | ||||||||||||||||
Purchase of common stock for retirement | Purchase of common stock for retirement | (5,031) | 0 | Purchase of common stock for retirement | — | (4,566) | ||||||||||||||||
Proceeds from stock options exercised | Proceeds from stock options exercised | 12,033 | 1,006 | Proceeds from stock options exercised | 1,205 | 6,927 | ||||||||||||||||
Net cash provided by financing activities | 431,486 | 1,184,408 | ||||||||||||||||||||
Net cash (used in)/provided by financing activities | Net cash (used in)/provided by financing activities | (23,112) | 461,442 | |||||||||||||||||||
Net increase in cash and cash equivalents | $ | 120,875 | 776,381 | |||||||||||||||||||
Net (decrease)/increase in cash and cash equivalents | Net (decrease)/increase in cash and cash equivalents | $ | (118,253) | 243,013 | ||||||||||||||||||
Cash and cash equivalents at beginning of period | Cash and cash equivalents at beginning of period | $ | 736,277 | 60,846 | Cash and cash equivalents at beginning of period | $ | 1,279,259 | 736,277 | ||||||||||||||
Net increase in cash and cash equivalents | 120,875 | 776,381 | ||||||||||||||||||||
Net (decrease)/increase in cash and cash equivalents | Net (decrease)/increase in cash and cash equivalents | (118,253) | 243,013 | |||||||||||||||||||
Cash and cash equivalents at end of period | Cash and cash equivalents at end of period | $ | 857,152 | 837,227 | Cash and cash equivalents at end of period | $ | 1,161,006 | 979,290 | ||||||||||||||
Cash paid during the period for: | Cash paid during the period for: | Cash paid during the period for: | ||||||||||||||||||||
Interest on deposits and borrowings (including interest credited to deposit accounts of $10,295 and $19,039, respectively) | $ | 14,625 | 23,373 | |||||||||||||||||||
Interest on deposits and borrowings (including interest credited to deposit accounts of $3,650 and $5,543, respectively) | Interest on deposits and borrowings (including interest credited to deposit accounts of $3,650 and $5,543, respectively) | $ | 7,051 | 8,963 | ||||||||||||||||||
Income taxes | Income taxes | 20,601 | 2,306 | Income taxes | 84 | — | ||||||||||||||||
Business acquisitions: | ||||||||||||||||||||||
Fair value of assets acquired | $ | 0 | 2,085,970 | |||||||||||||||||||
Northwest Bancshares, Inc. common stock issued | 0 | (213,406) | ||||||||||||||||||||
Net cash paid | 0 | 0 | ||||||||||||||||||||
Liabilities assumed | $ | 0 | 1,872,564 | |||||||||||||||||||
Non-cash activities: | Non-cash activities: | Non-cash activities: | ||||||||||||||||||||
Loan foreclosures and repossessions | Loan foreclosures and repossessions | $ | 2,831 | 2,240 | Loan foreclosures and repossessions | $ | 1,142 | 1,197 | ||||||||||||||
Sale of real estate owned financed by the Company | Sale of real estate owned financed by the Company | 54 | 0 | Sale of real estate owned financed by the Company | — | 54 |
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 | — | (738) | 19,262 | ||||||||||||||||||
Due after ten years | 56,586 | — | (5,196) | 51,390 | |||||||||||||||||||
Debt issued by government-sponsored enterprises: | |||||||||||||||||||||||
Due in one year through five years | 992 | 13 | — | 1,005 | |||||||||||||||||||
Due in five years through ten years | 46,172 | 1 | (4,313) | 41,860 | |||||||||||||||||||
Municipal securities: | |||||||||||||||||||||||
Due in less than one year | 892 | 5 | — | 897 | |||||||||||||||||||
Due in one year through five years | 1,257 | 6 | (11) | 1,252 | |||||||||||||||||||
Due in five years through ten years | 25,181 | 55 | (705) | 24,531 | |||||||||||||||||||
Due after ten years | 95,265 | 26 | (6,971) | 88,320 | |||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||
Fixed rate pass-through | 252,798 | 410 | (15,540) | 237,668 | |||||||||||||||||||
Variable rate pass-through | 10,577 | 203 | (14) | 10,766 | |||||||||||||||||||
Fixed rate agency CMOs | 995,579 | 94 | (67,438) | 928,235 | |||||||||||||||||||
Variable rate agency CMOs | 36,871 | 202 | (161) | 36,912 | |||||||||||||||||||
Total residential mortgage-backed securities | 1,295,825 | 909 | (83,153) | 1,213,581 | |||||||||||||||||||
Total marketable securities available-for-sale | $ | 1,542,170 | 1,015 | (101,087) | 1,442,098 |
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 after ten years | $ | 59,435 | 125 | (306) | 59,254 | ||||||||||||||||||
Debt issued by government-sponsored enterprises: | |||||||||||||||||||||||
Due in less than one year | 25,208 | 13 | 0 | 25,221 | |||||||||||||||||||
Due in five years through ten years | 47,663 | 94 | (1,120) | 46,637 | |||||||||||||||||||
Municipal securities: | |||||||||||||||||||||||
Due in less than one year | 1,130 | 3 | (1) | 1,132 | |||||||||||||||||||
Due in one year through five years | 2,234 | 60 | 0 | 2,294 | |||||||||||||||||||
Due in five years through ten years | 20,017 | 556 | (89) | 20,484 | |||||||||||||||||||
Due after ten years | 87,956 | 3,265 | (102) | 91,119 | |||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||
Fixed rate pass-through | 303,717 | 3,587 | (1,134) | 306,170 | |||||||||||||||||||
Variable rate pass-through | 12,968 | 387 | (15) | 13,340 | |||||||||||||||||||
Fixed rate agency CMOs | 988,012 | 6,582 | (6,981) | 987,613 | |||||||||||||||||||
Variable rate agency CMOs | 45,473 | 310 | (23) | 45,760 | |||||||||||||||||||
Total residential mortgage-backed securities | 1,350,170 | 10,866 | (8,153) | 1,352,883 | |||||||||||||||||||
Total marketable securities available-for-sale | $ | 1,593,813 | 14,982 | (9,771) | 1,599,024 |
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 | $ | 16,478 | — | (968) | 15,510 | ||||||||||||||||||
Due in five years through ten years | 107,974 | — | (11,375) | 96,599 | |||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||
Fixed rate pass-through | 176,949 | 24 | (12,117) | 164,856 | |||||||||||||||||||
Variable rate pass-through | 643 | 18 | — | 661 | |||||||||||||||||||
Fixed rate agency CMOs | 435,087 | — | (35,948) | 399,139 | |||||||||||||||||||
Variable rate agency CMOs | 599 | 12 | — | 611 | |||||||||||||||||||
Total residential mortgage-backed securities | 613,278 | 54 | (48,065) | 565,267 | |||||||||||||||||||
Total marketable securities held-to-maturity | $ | 737,730 | 54 | (60,408) | 677,376 |
Amortized cost | Gross unrealized holding gains | Gross unrealized holding losses | Fair value | ||||||||||||||||||||
Debt issued by the U.S. government and agencies: | |||||||||||||||||||||||
Due after ten years | $ | 40,761 | 211 | (55) | 40,917 | ||||||||||||||||||
Debt issued by government-sponsored enterprises: | |||||||||||||||||||||||
Due in less than one year | 24,976 | 159 | 0 | 25,135 | |||||||||||||||||||
Due in one year through five years | 238 | 3 | 0 | 241 | |||||||||||||||||||
Due in five years through ten years | 68,973 | 238 | (80) | 69,131 | |||||||||||||||||||
Municipal securities: | |||||||||||||||||||||||
Due in less than one year | 4,008 | 14 | 0 | 4,022 | |||||||||||||||||||
Due in one year through five years | 2,803 | 63 | (2) | 2,864 | |||||||||||||||||||
Due in five years through ten years | 16,045 | 429 | (5) | 16,469 | |||||||||||||||||||
Due after ten years | 89,778 | 3,752 | (72) | 93,458 | |||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||
Fixed rate pass-through | 339,406 | 7,125 | (86) | 346,445 | |||||||||||||||||||
Variable rate pass-through | 14,778 | 431 | (20) | 15,189 | |||||||||||||||||||
Fixed rate agency CMOs | 723,586 | 11,758 | (1,093) | 734,251 | |||||||||||||||||||
Variable rate agency CMOs | 50,333 | 519 | (33) | 50,819 | |||||||||||||||||||
Total residential mortgage-backed securities | 1,128,103 | 19,833 | (1,232) | 1,146,704 | |||||||||||||||||||
Total marketable securities available-for-sale | $ | 1,375,685 | 24,702 | (1,446) | 1,398,941 |
Amortized cost | Gross unrealized holding gains | Gross unrealized holding losses | Fair value | ||||||||||||||||||||
Debt issued by government-sponsored enterprises: | |||||||||||||||||||||||
Due in one year through five years | $ | 16,478 | 0 | (18) | 16,460 | ||||||||||||||||||
Due in five years through ten years | 107,972 | 0 | (3,578) | 104,394 | |||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||
Fixed rate pass-through | 202,269 | 591 | (658) | 202,202 | |||||||||||||||||||
Variable rate pass-through | 761 | 26 | 0 | 787 | |||||||||||||||||||
Fixed rate agency CMOs | 311,341 | 576 | (3,762) | 308,155 | |||||||||||||||||||
Variable rate agency CMOs | 603 | 19 | 0 | 622 | |||||||||||||||||||
Total residential mortgage-backed securities | 514,974 | 1,212 | (4,420) | 511,766 | |||||||||||||||||||
Total marketable securities held-to-maturity | $ | 639,424 | 1,212 | (8,016) | 632,620 |
Amortized cost | Gross unrealized holding gains | Gross unrealized holding losses | Fair value | Amortized cost | Gross unrealized holding gains | Gross unrealized holding losses | Fair value | |||||||||||||||||||||||||||||||||||||||
Debt issued by government-sponsored enterprises: | ||||||||||||||||||||||||||||||||||||||||||||||
Debt issued by the U.S. government and agencies: | Debt issued by the U.S. government and agencies: | |||||||||||||||||||||||||||||||||||||||||||||
Due in one through five years | Due in one through five years | $ | 16,478 | — | (206) | 16,272 | ||||||||||||||||||||||||||||||||||||||||
Due in five years through ten years | Due in five years through ten years | $ | 67,990 | 12 | (123) | 67,879 | Due in five years through ten years | 107,973 | — | (4,613) | 103,360 | |||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | Residential mortgage-backed securities: | Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||
Fixed rate pass-through | Fixed rate pass-through | 1,723 | 131 | 0 | 1,854 | Fixed rate pass-through | 183,092 | 58 | (2,161) | 180,989 | ||||||||||||||||||||||||||||||||||||
Variable rate pass-through | Variable rate pass-through | 919 | 30 | 0 | 949 | Variable rate pass-through | 667 | 24 | — | 691 | ||||||||||||||||||||||||||||||||||||
Fixed rate agency CMOs | Fixed rate agency CMOs | 107,651 | 716 | (2) | 108,365 | Fixed rate agency CMOs | 459,345 | 251 | (10,011) | 449,585 | ||||||||||||||||||||||||||||||||||||
Variable rate agency CMOs | Variable rate agency CMOs | 604 | 15 | 0 | 619 | Variable rate agency CMOs | 599 | 17 | — | 616 | ||||||||||||||||||||||||||||||||||||
Total residential mortgage-backed securities | Total residential mortgage-backed securities | 110,897 | 892 | (2) | 111,787 | Total residential mortgage-backed securities | 643,703 | 350 | (12,172) | 631,881 | ||||||||||||||||||||||||||||||||||||
Total marketable securities held-to-maturity | Total marketable securities held-to-maturity | $ | 178,887 | 904 | (125) | 179,666 | Total marketable securities held-to-maturity | $ | 768,154 | 350 | (16,991) | 751,513 |
Amortized cost | Fair value | Amortized cost | Fair value | |||||||||||||||||||
Residential mortgage-backed securities: | Residential mortgage-backed securities: | Residential mortgage-backed securities: | ||||||||||||||||||||
Due in less than one year | Due in less than one year | $ | 1,441 | 1,444 | Due in less than one year | $ | 382 | 382 | ||||||||||||||
Due in one year through five years | Due in one year through five years | 38,662 | 39,130 | Due in one year through five years | 18,660 | 18,319 | ||||||||||||||||
Due after five years through ten years | Due after five years through ten years | 253,062 | 255,356 | Due after five years through ten years | 78,165 | 76,050 | ||||||||||||||||
Due after ten years | Due after ten years | 1,057,005 | 1,056,953 | Due after ten years | 1,198,618 | 1,118,830 | ||||||||||||||||
Total residential mortgage-backed securities | Total residential mortgage-backed securities | $ | 1,350,170 | 1,352,883 | Total residential mortgage-backed securities | $ | 1,295,825 | 1,213,581 |
Amortized cost | Fair value | Amortized cost | Fair value | |||||||||||||||||||
Residential mortgage-backed securities: | Residential mortgage-backed securities: | Residential mortgage-backed securities: | ||||||||||||||||||||
Due in one year through five years | Due in one year through five years | $ | 985 | 1,051 | Due in one year through five years | $ | 709 | 727 | ||||||||||||||
Due after five years through ten years | Due after five years through ten years | 221,656 | 221,054 | Due after five years through ten years | 40,477 | 36,191 | ||||||||||||||||
Due after ten years | Due after ten years | 292,333 | 289,661 | Due after ten years | 572,092 | 528,349 | ||||||||||||||||
Total residential mortgage-backed securities | Total residential mortgage-backed securities | $ | 514,974 | 511,766 | Total residential mortgage-backed securities | $ | 613,278 | 565,267 |
Less than 12 months | 12 months or more | Total | Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value | Unrealized loss | Fair value | Unrealized loss | Fair value | Unrealized loss | Fair value | Unrealized loss | Fair value | Unrealized loss | Fair value | Unrealized loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored enterprises | U.S. government-sponsored enterprises | $ | 194,872 | (4,955) | 1,619 | (67) | 196,491 | (5,022) | U.S. government-sponsored enterprises | $ | 66,445 | (4,519) | 156,991 | (18,071) | 223,436 | (22,590) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Municipal securities | Municipal securities | 11,013 | (191) | 121 | (1) | 11,134 | (192) | Municipal securities | 101,496 | (7,356) | 2,741 | (331) | 104,237 | (7,687) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities - agency | Residential mortgage-backed securities - agency | 1,099,202 | (12,528) | 8,791 | (45) | 1,107,993 | (12,573) | Residential mortgage-backed securities - agency | 1,184,448 | (80,073) | 523,224 | (51,145) | 1,707,672 | (131,218) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 1,305,087 | (17,674) | 10,531 | (113) | 1,315,618 | (17,787) | Total | $ | 1,352,389 | (91,948) | 682,956 | (69,547) | 2,035,345 | (161,495) |
Less than 12 months | 12 months or more | Total | Less than 12 months | 12 months or more | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair value | Unrealized loss | Fair value | Unrealized loss | Fair value | Unrealized loss | Fair value | Unrealized loss | Fair value | Unrealized loss | Fair value | Unrealized loss | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. government-sponsored enterprises | U.S. government-sponsored enterprises | $ | 67,809 | (179) | 1,923 | (80) | 69,732 | (259) | U.S. government-sponsored enterprises | $ | 132,782 | (3,504) | 106,160 | (4,673) | 238,942 | (8,177) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Municipal securities | Municipal securities | 4,257 | (79) | 0 | 0 | 4,257 | (79) | Municipal securities | 25,118 | (336) | — | — | 25,118 | (336) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities - agency | Residential mortgage-backed securities - agency | 300,767 | (1,202) | 5,533 | (31) | 306,300 | (1,233) | Residential mortgage-backed securities - agency | 1,428,582 | (26,516) | 184,389 | (7,217) | 1,612,971 | (33,733) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 372,833 | (1,460) | 7,456 | (111) | 380,289 | (1,571) | Total | $ | 1,586,482 | (30,356) | 290,549 | (11,890) | 1,877,031 | (42,246) |
AA+ | Total | AA+ | Total | |||||||||||||||||||
Held-to-maturity securities: | ||||||||||||||||||||||
Debt issued by government-sponsored enterprises | $ | 124,450 | 124,450 | |||||||||||||||||||
Held-to-maturity securities (at amortized cost): | Held-to-maturity securities (at amortized cost): | |||||||||||||||||||||
Debt issued by the U.S. government-sponsored enterprises | Debt issued by the U.S. government-sponsored enterprises | $ | 124,452 | 124,452 | ||||||||||||||||||
Residential mortgage-backed securities | Residential mortgage-backed securities | 514,974 | 514,974 | Residential mortgage-backed securities | 613,278 | 613,278 | ||||||||||||||||
Total marketable securities held-to-maturity | Total marketable securities held-to-maturity | $ | 639,424 | 639,424 | Total marketable securities held-to-maturity | $ | 737,730 | 737,730 |
June 30, 2021 | December 31, 2020 | March 31, 2022 | December 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Originated | Acquired | Total | Originated | Acquired | Total | Originated (1) | Acquired (2) | Total | Originated (1) | Acquired (2) | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Personal Banking: | Personal Banking: | Personal Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | Residential mortgage loans | $ | 2,701,046 | 253,505 | 2,954,551 | 2,753,593 | 314,528 | 3,068,121 | Residential mortgage loans | $ | 2,924,864 | 197,025 | 3,121,889 | 2,783,459 | 211,161 | 2,994,620 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity loans | Home equity loans | 1,127,884 | 248,344 | 1,376,228 | 1,175,703 | 292,033 | 1,467,736 | Home equity loans | 1,089,234 | 197,286 | 1,286,520 | 1,107,202 | 212,729 | 1,319,931 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vehicle loans | Vehicle loans | 1,266,181 | 125,339 | 1,391,520 | 995,040 | 157,633 | 1,152,673 | Vehicle loans | 1,457,137 | 90,118 | 1,547,255 | 1,384,246 | 99,985 | 1,484,231 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer loans | Consumer loans | 299,163 | 54,548 | 353,711 | 288,066 | 67,254 | 355,320 | Consumer loans | 305,969 | 42,757 | 348,726 | 307,961 | 46,556 | 354,517 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Personal Banking | Total Personal Banking | 5,394,274 | 681,736 | 6,076,010 | 5,212,402 | 831,448 | 6,043,850 | Total Personal Banking | 5,777,204 | 527,186 | 6,304,390 | 5,582,868 | 570,431 | 6,153,299 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Banking: | Commercial Banking: | Commercial Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | Commercial real estate loans | 2,258,220 | 524,831 | 2,783,051 | 2,223,108 | 624,873 | 2,847,981 | Commercial real estate loans | 2,189,050 | 384,491 | 2,573,541 | 2,202,027 | 423,454 | 2,625,481 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | Commercial real estate loans - owner occupied | 327,039 | 105,099 | 432,138 | 344,016 | 153,892 | 497,908 | Commercial real estate loans - owner occupied | 326,958 | 59,394 | 386,352 | 321,253 | 68,750 | 390,003 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | Commercial loans | 899,035 | 119,746 | 1,018,781 | 1,019,482 | 171,628 | 1,191,110 | Commercial loans | 803,833 | 70,918 | 874,751 | 765,877 | 81,732 | 847,609 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial Banking | Total Commercial Banking | 3,484,294 | 749,676 | 4,233,970 | 3,586,606 | 950,393 | 4,536,999 | Total Commercial Banking | 3,319,841 | 514,803 | 3,834,644 | 3,289,157 | 573,936 | 3,863,093 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total loans receivable, gross | Total loans receivable, gross | 8,878,568 | 1,431,412 | 10,309,980 | 8,799,008 | 1,781,841 | 10,580,849 | Total loans receivable, gross | 9,097,045 | 1,041,989 | 10,139,034 | 8,872,025 | 1,144,367 | 10,016,392 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for credit losses | Allowance for credit losses | (90,375) | (26,955) | (117,330) | (102,874) | (31,553) | (134,427) | Allowance for credit losses | (83,685) | (15,610) | (99,295) | (86,750) | (15,491) | (102,241) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total loans receivable, net | Total loans receivable, net | $ | 8,788,193 | 1,404,457 | 10,192,650 | 8,696,134 | 1,750,288 | 10,446,422 | Total loans receivable, net | $ | 9,013,360 | 1,026,379 | 10,039,739 | 8,785,275 | 1,128,876 | 9,914,151 |
Balance as of June 30, 2021 | Current period provision | Charge-offs | Recoveries | Balance as of March 31, 2021 | Balance as of March 31, 2022 | Current period provision | Charge-offs | Recoveries | Balance as of December 31, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Credit Losses | Allowance for Credit Losses | Allowance for Credit Losses | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Personal Banking: | Personal Banking: | Personal Banking: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | Residential mortgage loans | $ | 7,247 | 1,922 | (770) | 234 | 5,861 | Residential mortgage loans | $ | 13,306 | 6,962 | (1,183) | 154 | 7,373 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity loans | Home equity loans | 7,239 | 2,253 | (379) | 124 | 5,241 | Home equity loans | 5,643 | 369 | (447) | 421 | 5,300 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vehicle loans | Vehicle loans | 12,888 | (1,196) | (1,598) | 794 | 14,888 | Vehicle loans | 14,181 | (1,305) | (647) | 650 | 15,483 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer loans | Consumer loans | 2,801 | 691 | (803) | 350 | 2,563 | Consumer loans | 3,109 | 994 | (1,076) | 307 | 2,884 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Personal Banking | Total Personal Banking | 30,175 | 3,670 | (3,550) | 1,502 | 28,553 | Total Personal Banking | 36,239 | 7,020 | (3,353) | 1,532 | 31,040 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Banking: | Commercial Banking: | Commercial Banking: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | Commercial real estate loans | 64,580 | (2,925) | (3,074) | 373 | 70,206 | Commercial real estate loans | 44,572 | (9,665) | (1,024) | 1,120 | 54,141 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | Commercial real estate loans - owner occupied | 4,729 | (1,138) | (890) | 4 | 6,753 | Commercial real estate loans - owner occupied | 4,276 | 389 | — | 4 | 3,883 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | Commercial loans | 17,846 | 393 | (1,161) | 129 | 18,485 | Commercial loans | 14,208 | 775 | (681) | 937 | 13,177 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial Banking | Total Commercial Banking | 87,155 | (3,670) | (5,125) | 506 | 95,444 | Total Commercial Banking | 63,056 | (8,501) | (1,705) | 2,061 | 71,201 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 117,330 | 0 | (8,675) | 2,008 | 123,997 | Total | $ | 99,295 | (1,481) | (5,058) | 3,593 | 102,241 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Credit Losses - off-balance sheet exposure | Allowance for Credit Losses - off-balance sheet exposure | Allowance for Credit Losses - off-balance sheet exposure | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Personal Banking: | Personal Banking: | Personal Banking: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | Residential mortgage loans | $ | 2 | 0 | 0 | 0 | 2 | Residential mortgage loans | $ | 6 | 4 | — | — | 2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity loans | Home equity loans | 42 | 8 | 0 | 0 | 34 | Home equity loans | 55 | 16 | — | — | 39 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Personal Banking | Total Personal Banking | 44 | 8 | 0 | 0 | 36 | Total Personal Banking | 61 | 20 | — | — | 41 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Banking: | Commercial Banking: | Commercial Banking: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | Commercial real estate loans | 1,932 | (183) | 0 | 0 | 2,115 | Commercial real estate loans | 1,792 | 911 | — | — | 881 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | Commercial real estate loans - owner occupied | 181 | (207) | 0 | 0 | 388 | Commercial real estate loans - owner occupied | 208 | 66 | — | — | 142 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | Commercial loans | 1,232 | (848) | 0 | 0 | 2,080 | Commercial loans | 1,993 | 599 | — | — | 1,394 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial Banking | Total Commercial Banking | 3,345 | (1,238) | 0 | 0 | 4,583 | Total Commercial Banking | 3,993 | 1,576 | — | — | 2,417 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total off-balance sheet exposure | Total off-balance sheet exposure | $ | 3,389 | (1,230) | 0 | 0 | 4,619 | Total off-balance sheet exposure | $ | 4,054 | 1,596 | — | — | 2,458 |
Balance as of March 31, 2021 | Current period provision | Charge-offs | Recoveries | Balance as of December 31, 2020 | |||||||||||||||||||||||||||||||
Allowance for Credit Losses | |||||||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||
Residential mortgage loans | $ | 5,861 | (592) | (855) | 42 | 7,266 | |||||||||||||||||||||||||||||
Home equity loans | 5,241 | (652) | (228) | 129 | 5,992 | ||||||||||||||||||||||||||||||
Vehicle loans | 14,888 | 773 | (1,307) | 597 | 14,825 | ||||||||||||||||||||||||||||||
Consumer loans | 2,563 | 651 | (1,296) | 337 | 2,871 | ||||||||||||||||||||||||||||||
Total Personal Banking | 28,553 | 180 | (3,686) | 1,105 | 30,954 | ||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||
Commercial real estate loans | 70,206 | (4,831) | (4,626) | 282 | 79,381 | ||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 6,753 | (3,766) | — | 1 | 10,518 | ||||||||||||||||||||||||||||||
Commercial loans | 18,485 | 2,797 | (54) | 2,168 | 13,574 | ||||||||||||||||||||||||||||||
Total Commercial Banking | 95,444 | (5,800) | (4,680) | 2,451 | 103,473 | ||||||||||||||||||||||||||||||
Total | $ | 123,997 | (5,620) | (8,366) | 3,556 | 134,427 | |||||||||||||||||||||||||||||
Allowance for Credit Losses - off-balance sheet exposure | |||||||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||
Residential mortgage loans | $ | 2 | — | — | — | 2 | |||||||||||||||||||||||||||||
Home equity loans | 34 | (1) | — | — | 35 | ||||||||||||||||||||||||||||||
Total Personal Banking | 36 | (1) | — | — | 37 | ||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||
Commercial real estate loans | 2,115 | (1,334) | — | — | 3,449 | ||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 388 | 62 | — | — | 326 | ||||||||||||||||||||||||||||||
Commercial loans | 2,080 | (471) | — | — | 2,551 | ||||||||||||||||||||||||||||||
Total Commercial Banking | 4,583 | (1,743) | — | — | 6,326 | ||||||||||||||||||||||||||||||
Total off-balance sheet exposure | $ | 4,619 | (1,744) | — | — | 6,363 |
Balance as of June 30, 2020 | Current period provision | Charge-offs | Recoveries | Initial ACL on loans purchased with credit deterioration | Balance as of March 31, 2020 | ||||||||||||||||||||||||||||||
Allowance for Credit Losses | |||||||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||
Residential mortgage loans | $ | 11,708 | (30) | (38) | 8 | 1,095 | 10,673 | ||||||||||||||||||||||||||||
Home equity loans | 9,363 | (542) | (173) | 76 | 216 | 9,786 | |||||||||||||||||||||||||||||
Vehicle loans | 13,835 | 2,949 | (1,763) | 420 | 235 | 11,994 | |||||||||||||||||||||||||||||
Consumer loans | 2,506 | (1,789) | (1,428) | 400 | 157 | 5,166 | |||||||||||||||||||||||||||||
Total Personal Banking | 37,412 | 588 | (3,402) | 904 | 1,703 | 37,619 | |||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||
Commercial real estate loans | 72,833 | 37,969 | (690) | 454 | 5,720 | 29,380 | |||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 14,827 | 5,482 | 0 | 8 | 963 | 8,374 | |||||||||||||||||||||||||||||
Commercial loans | 15,514 | 7,711 | (10,349) | 169 | 459 | 17,524 | |||||||||||||||||||||||||||||
Total Commercial Banking | 103,174 | 51,162 | (11,039) | 631 | 7,142 | 55,278 | |||||||||||||||||||||||||||||
Total | $ | 140,586 | 51,750 | (14,441) | 1,535 | 8,845 | 92,897 | ||||||||||||||||||||||||||||
Allowance for Credit Losses - off-balance sheet exposure | |||||||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||
Home equity loans | $ | 38 | 4 | 0 | 0 | 0 | 34 | ||||||||||||||||||||||||||||
Total Personal Banking | 38 | 4 | 0 | 0 | 0 | 34 | |||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||
Commercial real estate loans | 5,135 | 1,841 | 0 | 0 | 0 | 3,294 | |||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 626 | 531 | 0 | 0 | 0 | 95 | |||||||||||||||||||||||||||||
Commercial loans | 4,384 | 3,103 | 0 | 0 | 0 | 1,281 | |||||||||||||||||||||||||||||
Total Commercial Banking | 10,145 | 5,475 | 0 | 0 | 0 | 4,670 | |||||||||||||||||||||||||||||
Total off-balance sheet exposure | $ | 10,183 | 5,479 | 0 | 0 | 0 | 4,704 |
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 | 0 | 0 | 0 | 2 | |||||||||||||||||||||||||||||
Home equity loans | 42 | 7 | 0 | 0 | 35 | ||||||||||||||||||||||||||||||
Total Personal Banking | 44 | 7 | 0 | 0 | 37 | ||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||
Commercial real estate loans | 1,932 | (1,517) | 0 | 0 | 3,449 | ||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 181 | (145) | 0 | 0 | 326 | ||||||||||||||||||||||||||||||
Commercial loans | 1,232 | (1,319) | 0 | 0 | 2,551 | ||||||||||||||||||||||||||||||
Total Commercial Banking | 3,345 | (2,981) | 0 | 0 | 6,326 | ||||||||||||||||||||||||||||||
Total off-balance sheet exposure | $ | 3,389 | (2,974) | 0 | 0 | 6,363 | |||||||||||||||||||||||||||||
Balance as of June 30, 2020 | Current period provision | Charge-offs | Recoveries | Initial ACL on loans purchased with credit deterioration | Cumulative effect of ASU 2016-13* | Balance as of December 31, 2019 | |||||||||||||||||||||||||||||||||||
Allowance for Credit Losses | |||||||||||||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | $ | 11,708 | 864 | (381) | 115 | 1,095 | 7,441 | 2,574 | |||||||||||||||||||||||||||||||||
Home equity loans | 9,363 | 353 | (462) | 281 | 216 | 5,786 | 3,189 | ||||||||||||||||||||||||||||||||||
Vehicle loans | 13,835 | 8,308 | (3,606) | 764 | 235 | 842 | 7,292 | ||||||||||||||||||||||||||||||||||
Consumer loans | 2,506 | 1,729 | (3,073) | 816 | 157 | (2,424) | 5,301 | ||||||||||||||||||||||||||||||||||
Total Personal Banking | 37,412 | 11,254 | (7,522) | 1,976 | 1,703 | 11,645 | 18,356 | ||||||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | 72,833 | 49,238 | (1,000) | 744 | 5,720 | 2,288 | 15,843 | ||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 14,827 | 6,847 | (21) | 15 | 963 | 1,278 | 5,745 | ||||||||||||||||||||||||||||||||||
Commercial loans | 15,514 | 12,048 | (11,164) | 593 | 459 | (4,419) | 17,997 | ||||||||||||||||||||||||||||||||||
Total Commercial Banking | 103,174 | 68,133 | (12,185) | 1,352 | 7,142 | (853) | 39,585 | ||||||||||||||||||||||||||||||||||
Total | $140,586 | 79,387 | (19,707) | 3,328 | 8,845 | 10,792 | 57,941 | ||||||||||||||||||||||||||||||||||
Allowance for Credit Losses - off-balance sheet exposure | |||||||||||||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||||||||
Home equity loans | $ | 38 | 8 | 0 | 0 | 0 | (293) | 323 | |||||||||||||||||||||||||||||||||
Consumer loans | 0 | 0 | 0 | 0 | 0 | (402) | 402 | ||||||||||||||||||||||||||||||||||
Total Personal Banking | 38 | 8 | 0 | 0 | 0 | (695) | 725 | ||||||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | 5,135 | 3,124 | 0 | 0 | 0 | 1,934 | 77 | ||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 626 | 535 | 0 | 0 | 0 | 88 | 3 | ||||||||||||||||||||||||||||||||||
Commercial loans | 4,384 | 3,292 | 0 | 0 | 0 | 923 | 169 | ||||||||||||||||||||||||||||||||||
Total Commercial Banking | 10,145 | 6,951 | 0 | 0 | 0 | 2,945 | 249 | ||||||||||||||||||||||||||||||||||
Total off-balance sheet exposure | $ | 10,183 | 6,959 | 0 | 0 | 0 | 2,250 | 974 |
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 | 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: | Personal Banking: | Personal Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | Residential mortgage loans | $ | 2,954,551 | 7,247 | 10,471 | 0 | 7,347 | 944 | 0 | Residential mortgage loans | $ | 3,121,889 | 13,306 | 7,450 | — | 6,187 | 861 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity loans | Home equity loans | 1,376,228 | 7,239 | 6,965 | 0 | 1,968 | 652 | 0 | Home equity loans | 1,286,520 | 5,643 | 4,910 | — | 1,503 | 489 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vehicle loans | Vehicle loans | 1,391,520 | 12,888 | 2,579 | 0 | 0 | 0 | 0 | Vehicle loans | 1,547,255 | 14,181 | 2,782 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer loans | Consumer loans | 353,711 | 2,801 | 477 | 302 | 0 | 0 | 0 | Consumer loans | 348,726 | 3,109 | 618 | 420 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Personal Banking | Total Personal Banking | 6,076,010 | 30,175 | 20,492 | 302 | 9,315 | 1,596 | 0 | Total Personal Banking | 6,304,390 | 36,239 | 15,760 | 420 | 7,690 | 1,350 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Banking: | Commercial Banking: | Commercial Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | Commercial real estate loans | 2,783,051 | 64,580�� | 162,301 | 0 | 14,588 | 890 | 500 | Commercial real estate loans | 2,573,541 | 44,572 | 100,887 | — | 16,426 | 1,620 | 364 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | Commercial real estate loans - owner occupied | 432,138 | 4,729 | 1,870 | 0 | 452 | 162 | 0 | Commercial real estate loans - owner occupied | 386,352 | 4,276 | 655 | — | 152 | 25 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | Commercial loans | 1,018,781 | 17,846 | 22,098 | 0 | 3,076 | 315 | 765 | Commercial loans | 874,751 | 14,208 | 6,859 | — | 4,433 | 589 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial Banking | Total Commercial Banking | 4,233,970 | 87,155 | 186,269 | 0 | 18,116 | 1,367 | 1,265 | Total Commercial Banking | 3,834,644 | 63,056 | 108,401 | — | 21,011 | 2,234 | 364 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 10,309,980 | 117,330 | 206,761 | 302 | 27,431 | 2,963 | 1,265 | Total | $ | 10,139,034 | 99,295 | 124,161 | 420 | 28,701 | 3,584 | 364 |
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 | 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: | Personal Banking: | Personal Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | Residential mortgage loans | $ | 3,068,121 | 7,266 | 15,924 | 0 | 8,431 | 560 | 0 | Residential mortgage loans | $ | 2,994,620 | 7,373 | 10,402 | — | 6,749 | 1,442 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity loans | Home equity loans | 1,467,736 | 5,992 | 9,123 | 0 | 2,058 | 381 | 26 | Home equity loans | 1,319,931 | 5,300 | 5,758 | — | 1,781 | 718 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vehicle loans | Vehicle loans | 1,152,673 | 14,825 | 5,533 | 1 | 0 | 0 | 0 | Vehicle loans | 1,484,231 | 15,483 | 3,263 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer loans | Consumer loans | 355,320 | 2,871 | 1,031 | 584 | 1 | 0 | 0 | Consumer loans | 354,517 | 2,884 | 675 | 331 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Personal Banking | Total Personal Banking | 6,043,850 | 30,954 | 31,611 | 585 | 10,490 | 941 | 26 | Total Personal Banking | 6,153,299 | 31,040 | 20,098 | 331 | 8,530 | 2,160 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Banking: | Commercial Banking: | Commercial Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | Commercial real estate loans | 2,847,981 | 79,381 | 44,092 | 0 | 18,430 | 787 | 471 | Commercial real estate loans | 2,625,481 | 54,141 | 129,666 | — | 17,025 | 2,024 | 400 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | Commercial real estate loans - owner occupied | 497,908 | 10,518 | 3,642 | 0 | 761 | 123 | 0 | Commercial real estate loans - owner occupied | 390,003 | 3,883 | 1,233 | — | 159 | 24 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | Commercial loans | 1,191,110 | 13,574 | 23,487 | 0 | 2,454 | 165 | 362 | Commercial loans | 847,609 | 13,177 | 7,474 | — | 4,574 | 609 | 60 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial Banking | Total Commercial Banking | 4,536,999 | 103,473 | 71,221 | 0 | 21,645 | 1,075 | 833 | Total Commercial Banking | 3,863,093 | 71,201 | 138,373 | — | 21,758 | 2,657 | 460 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 10,580,849 | 134,427 | 102,832 | 585 | 32,135 | 2,016 | 859 | Total | $ | 10,016,392 | 102,241 | 158,471 | 331 | 30,288 | 4,817 | 460 |
March 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nonaccrual loans at January 1, 2021 | Nonaccrual loans at June 30, 2021 with an allowance | Nonaccrual loans with no allowance | Loans 90 days past due and accruing | 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: | Personal Banking: | Personal Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | Residential mortgage loans | $ | 15,924 | 10,471 | — | 0 | Residential mortgage loans | $ | 10,402 | 7,450 | — | 7,450 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity loans | Home equity loans | 9,123 | 6,773 | 192 | 0 | Home equity loans | 5,758 | 4,706 | 204 | 4,910 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Vehicle loans | Vehicle loans | 5,533 | 2,576 | 3 | 0 | Vehicle loans | 3,263 | 2,738 | 44 | 2,782 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer loans | Consumer loans | 1,031 | 477 | 0 | 302 | Consumer loans | 675 | 617 | 1 | 618 | 420 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Personal Banking | Total Personal Banking | 31,611 | 20,297 | 195 | 302 | Total Personal Banking | 20,098 | 15,511 | 249 | 15,760 | 420 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Banking: | Commercial Banking: | Commercial Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | Commercial real estate loans | 44,092 | 101,472 | 60,829 | 0 | Commercial real estate loans | 129,666 | 15,730 | 85,157 | 100,887 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | Commercial real estate loans - owner occupied | 3,642 | 1,870 | 0 | 0 | Commercial real estate loans - owner occupied | 1,233 | 655 | — | 655 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | Commercial loans | 23,487 | 17,323 | 4,775 | 0 | Commercial loans | 7,474 | 3,472 | 3,387 | 6,859 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial Banking | Total Commercial Banking | 71,221 | 120,665 | 65,604 | 0 | Total Commercial Banking | 138,373 | 19,857 | 88,544 | 108,401 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 102,832 | 140,962 | 65,799 | 302 | Total | $ | 158,471 | 35,368 | 88,793 | 124,161 | 420 |
December 31, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nonaccrual loans at January 1, 2020 | Nonaccrual loans at December 31, 2020 with an allowance | Nonaccrual loans with no allowance | Loans 90 days past due and accruing | 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: | Personal Banking: | Personal Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | Residential mortgage loans | $ | 14,476 | 15,923 | 0 | 0 | Residential mortgage loans | $ | 15,924 | 10,402 | — | 10,402 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity loans | Home equity loans | 6,745 | 8,872 | 252 | 0 | Home equity loans | 9,123 | 5,551 | 207 | 5,758 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Vehicle loans | Vehicle loans | 3,147 | 5,377 | 156 | 1 | Vehicle loans | 5,533 | 3,251 | 12 | 3,263 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer loans | Consumer loans | 1,079 | 1,030 | 1 | 584 | Consumer loans | 1,031 | 674 | 1 | 675 | 331 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Personal Banking | Total Personal Banking | 25,447 | 31,202 | 409 | 585 | Total Personal Banking | 31,611 | 19,878 | 220 | 20,098 | 331 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Banking: | Commercial Banking: | Commercial Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | Commercial real estate loans | 18,832 | 27,079 | 17,013 | 0 | Commercial real estate loans | 44,092 | 65,529 | 64,137 | 129,666 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | Commercial real estate loans - owner occupied | 16,032 | 3,642 | 0 | 0 | Commercial real estate loans - owner occupied | 3,642 | 1,233 | — | 1,233 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | Commercial loans | 8,559 | 18,069 | 5,418 | 0 | Commercial loans | 23,487 | 3,941 | 3,533 | 7,474 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial Banking | Total Commercial Banking | 43,423 | 48,790 | 22,431 | 0 | Total Commercial Banking | 71,221 | 70,703 | 67,670 | 138,373 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 68,870 | 79,992 | 22,840 | 585 | Total | $ | 102,832 | 90,581 | 67,890 | 158,471 | 331 |
Real estate | Equipment | Other | Total | Real estate | Equipment | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Personal Banking: | Personal Banking: | Personal Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | Residential mortgage loans | $ | 586 | 0 | 0 | 586 | Residential mortgage loans | $ | 577 | — | 577 | |||||||||||||||||||||||||||||||||||||||||||||||
Home equity loans | Home equity loans | 99 | 0 | 0 | 99 | Home equity loans | 99 | — | 99 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total Personal Banking | Total Personal Banking | 685 | 0 | 0 | 685 | Total Personal Banking | 676 | — | 676 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Banking: | Commercial Banking: | Commercial Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | Commercial real estate loans | 150,426 | 1,852 | 3,432 | 155,710 | Commercial real estate loans | 95,904 | 1,631 | 97,535 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | Commercial loans | 2,851 | 10,069 | 4,403 | 17,323 | Commercial loans | 3,841 | 1,854 | 5,695 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial Banking | Total Commercial Banking | 153,277 | 11,921 | 7,835 | 173,033 | Total Commercial Banking | 99,745 | 3,485 | 103,230 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 153,962 | 11,921 | 7,835 | 173,718 | Total | $ | 100,421 | 3,485 | 103,906 |
Real estate | Equipment | Other | Total | Real estate | Equipment | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Personal Banking: | Personal Banking: | Personal Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | Residential mortgage loans | $ | 1,269 | 0 | 0 | 1,269 | Residential mortgage loans | $ | 580 | — | 580 | |||||||||||||||||||||||||||||||||||||||||||||||
Home equity loans | Home equity loans | 99 | 0 | 0 | 99 | Home equity loans | 99 | — | 99 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total Personal Banking | Total Personal Banking | 1,368 | 0 | 0 | 1,368 | Total Personal Banking | 679 | — | 679 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Banking: | Commercial Banking: | Commercial Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | Commercial real estate loans | 79,392 | 1,997 | 1,703 | 83,092 | Commercial real estate loans | 119,825 | 1,705 | 121,530 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | Commercial loans | 3,313 | 197 | 11,069 | 14,579 | Commercial loans | 3,973 | 1,926 | 5,899 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial Banking | Total Commercial Banking | 82,705 | 2,194 | 12,772 | 97,671 | Total Commercial Banking | 123,798 | 3,631 | 127,429 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 84,073 | 2,194 | 12,772 | 99,039 | Total | $ | 124,477 | 3,631 | 128,108 |
For the quarter ended June 30, | |||||||||||||||||||||||
2021 | 2020 | ||||||||||||||||||||||
Number of contracts | Amount | Number of contracts | Amount | ||||||||||||||||||||
Beginning TDR balance: | 164 | $ | 27,510 | 171 | $ | 33,352 | |||||||||||||||||
New TDRs | 2 | 2,295 | 1 | 67 | |||||||||||||||||||
Re-modified TDRs | 1 | 344 | 2 | 3,436 | |||||||||||||||||||
Net paydowns | 0 | (1,610) | 0 | (1,194) | |||||||||||||||||||
Charge-offs: | |||||||||||||||||||||||
Residential mortgage loans | 0 | 0 | 0 | 0 | |||||||||||||||||||
Home equity loans | 0 | 0 | 0 | 0 | |||||||||||||||||||
Vehicle loans | 0 | 0 | 0 | 0 | |||||||||||||||||||
Commercial real estate loans | 0 | 0 | 0 | 0 | |||||||||||||||||||
Commercial real estate loans - owner occupied | 0 | 0 | 0 | 0 | |||||||||||||||||||
Commercial loans | 0 | 0 | 0 | 0 | |||||||||||||||||||
Paid-off loans: | |||||||||||||||||||||||
Residential mortgage loans | 4 | (726) | 0 | 0 | |||||||||||||||||||
Home equity loans | 1 | (11) | 2 | (3) | |||||||||||||||||||
Vehicle loans | 0 | 0 | 0 | 0 | |||||||||||||||||||
Commercial real estate loans | 2 | (302) | 0 | 0 | |||||||||||||||||||
Commercial real estate loans - owner occupied | 0 | 0 | 1 | (25) | |||||||||||||||||||
Commercial loans | 1 | (69) | 2 | (183) | |||||||||||||||||||
Ending TDR balance: | 158 | $ | 27,431 | 167 | $ | 35,450 | |||||||||||||||||
Accruing TDRs | $ | 18,480 | $ | 17,888 | |||||||||||||||||||
Nonaccrual TDRs | 8,951 | 17,562 |
For the quarter ended March 31, | |||||||||||||||||||||||
2022 | 2021 | ||||||||||||||||||||||
Number of contracts | Amount | Number of contracts | Amount | ||||||||||||||||||||
Beginning TDR balance: | 134 | $ | 30,288 | 170 | $ | 32,135 | |||||||||||||||||
New TDRs | — | — | — | — | |||||||||||||||||||
Re-modified TDRs | 1 | 202 | 4 | 922 | |||||||||||||||||||
Net paydowns | — | (1,030) | — | (2,488) | |||||||||||||||||||
Charge-offs: | |||||||||||||||||||||||
Residential mortgage loans | 1 | (3) | — | — | |||||||||||||||||||
Paid-off loans: | |||||||||||||||||||||||
Residential mortgage loans | 1 | (201) | — | — | |||||||||||||||||||
Home equity loans | 1 | (64) | — | — | |||||||||||||||||||
Commercial real estate loans | 1 | (289) | 3 | (2,384) | |||||||||||||||||||
Commercial real estate loans - owner occupied | — | — | 1 | (47) | |||||||||||||||||||
Commercial loans | — | — | 2 | (628) | |||||||||||||||||||
Ending TDR balance: | 130 | $ | 28,701 | 164 | $ | 27,510 | |||||||||||||||||
Accruing TDRs | $ | 12,686 | $ | 20,120 | |||||||||||||||||||
Nonaccrual TDRs | 16,015 | 7,390 |
For the six months ended June 30, | |||||||||||||||||||||||
2021 | 2020 | ||||||||||||||||||||||
Number of contracts | Amount | Number of contracts | Amount | ||||||||||||||||||||
Beginning TDR balance: | 170 | $ | 32,135 | 176 | $ | 31,999 | |||||||||||||||||
New TDRs | 2 | 2,295 | 3 | 84 | |||||||||||||||||||
Re-modified TDRs | 5 | 1,241 | 3 | 5,487 | |||||||||||||||||||
Net paydowns | 0 | (4,073) | 0 | (1,509) | |||||||||||||||||||
Charge-offs: | |||||||||||||||||||||||
Residential mortgage loans | 0 | 0 | 0 | 0 | |||||||||||||||||||
Home equity loans | 0 | 0 | 1 | (10) | |||||||||||||||||||
Vehicle loans | 0 | 0 | 0 | 0 | |||||||||||||||||||
Commercial real estate loans | 0 | 0 | 0 | 0 | |||||||||||||||||||
Commercial real estate loans - owner occupied | 0 | 0 | 0 | 0 | |||||||||||||||||||
Commercial loans | 0 | 0 | 0 | 0 | |||||||||||||||||||
Paid-off loans: | |||||||||||||||||||||||
Residential mortgage loans | 4 | (726) | 2 | (330) | |||||||||||||||||||
Home equity loans | 1 | (11) | 2 | (3) | |||||||||||||||||||
Vehicle loans | 0 | 0 | 0 | 0 | |||||||||||||||||||
Commercial real estate loans | 5 | (2,686) | 1 | (26) | |||||||||||||||||||
Commercial real estate loans - owner occupied | 1 | (47) | 1 | (25) | |||||||||||||||||||
Commercial loans | 3 | (697) | 5 | (217) | |||||||||||||||||||
Ending TDR balance: | 158 | $ | 27,431 | 167 | $ | 35,450 | |||||||||||||||||
Accruing TDRs | $ | 18,480 | $ | 17,888 | |||||||||||||||||||
Nonaccrual TDRs | 8,951 | 17,562 |
For the quarter ended June 30, 2021 | For the six months ended June 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | 0 | $ | 0 | 0 | 0 | 1 | $ | 121 | 116 | 10 | |||||||||||||||||||||||||||||||||||||
Home equity loans | 0 | 0 | 0 | 0 | 1 | 3 | 0 | 0 | |||||||||||||||||||||||||||||||||||||||
Total Personal Banking | 0 | 0 | 0 | 0 | 2 | 124 | 116 | 10 | |||||||||||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | 1 | 725 | 343 | 34 | 3 | 1,537 | 1,125 | 148 | |||||||||||||||||||||||||||||||||||||||
Commercial loans | 2 | 2,396 | 2,295 | 0 | 2 | 2,396 | 2,295 | 0 | |||||||||||||||||||||||||||||||||||||||
Total Commercial Banking | 3 | 3,121 | 2,638 | 34 | 5 | 3,933 | 3,420 | 148 | |||||||||||||||||||||||||||||||||||||||
Total | 3 | $ | 3,121 | 2,638 | 34 | 7 | $ | 4,057 | 3,536 | 158 |
For the quarter ended March 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||
Number of contracts | Recorded investment at the time of modification | Current recorded investment | Current allowance | |||||||||||||||||||||||||||||||||||||||||
Commercial Banking: | ||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | 1 | $ | 330 | 202 | 11 | |||||||||||||||||||||||||||||||||||||||
Total Commercial Banking | 1 | 330 | 202 | 11 | ||||||||||||||||||||||||||||||||||||||||
Total | 1 | $ | 330 | 202 | 11 |
For the quarter ended June 30, 2020 | For the six months ended June 30, 2020 | For the quarter ended March 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Personal Banking: | Personal Banking: | Personal Banking: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | Residential mortgage loans | 0 | $ | 0 | 0 | 0 | 0 | $ | 0 | 0 | 0 | Residential mortgage loans | 1 | $ | 121 | 117 | 10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity loans | Home equity loans | 1 | 67 | 67 | 12 | 2 | 86 | 84 | 15 | Home equity loans | 1 | 3 | 2 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vehicle loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Personal Banking | Total Personal Banking | 1 | 67 | 67 | 12 | 2 | 86 | 84 | 15 | Total Personal Banking | 2 | 124 | 119 | 10 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Banking: | Commercial Banking: | Commercial Banking: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | Commercial real estate loans | 1 | 454 | 454 | 58 | 1 | 454 | 454 | 58 | Commercial real estate loans | 2 | 812 | 803 | 130 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 0 | 0 | 0 | 0 | 2 | 2,077 | 2,051 | 131 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | 1 | 2,500 | 2,982 | 0 | 1 | 2,500 | 2,982 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial Banking | Total Commercial Banking | 2 | 2,954 | 3,436 | 58 | 4 | 5,031 | 5,487 | 189 | Total Commercial Banking | 2 | 812 | 803 | 130 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | 3 | $ | 3,021 | 3,503 | 70 | 6 | $ | 5,117 | 5,571 | 204 | Total | 4 | $ | 936 | 922 | 140 |
Type of modification | |||||||||||||||||||||||||||||||||||
Number of contracts | Rate | Payment | Maturity date | Other | Total | ||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||
Commercial real estate loans | 1 | $ | — | — | 202 | — | 202 | ||||||||||||||||||||||||||||
Total Commercial Banking | 1 | — | — | 202 | — | 202 | |||||||||||||||||||||||||||||
Total | 1 | $ | — | — | 202 | — | 202 |
Type of modification | Type of modification | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of contracts | Rate | Payment | Maturity date | Other | Total | Number of contracts | Rate | Payment | Maturity date | Other | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Personal Banking: | Personal Banking: | Personal Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | Residential mortgage loans | 0 | $ | 0 | 0 | 0 | 0 | 0 | Residential mortgage loans | 1 | $ | 117 | — | — | — | 117 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity loans | Home equity loans | 0 | 0 | 0 | 0 | 0 | 0 | Home equity loans | 1 | — | — | 2 | — | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vehicle loans | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer loans | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Personal Banking | Total Personal Banking | 0 | 0 | 0 | 0 | 0 | 0 | Total Personal Banking | 2 | 117 | — | 2 | — | 119 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Banking: | Commercial Banking: | Commercial Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | Commercial real estate loans | 1 | 0 | 0 | 343 | 0 | 343 | Commercial real estate loans | 2 | — | — | 729 | 74 | 803 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | 2 | 0 | 0 | 2,295 | 0 | 2,295 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial Banking | Total Commercial Banking | 3 | 0 | 0 | 2,638 | 0 | 2,638 | Total Commercial Banking | 2 | — | — | 729 | 74 | 803 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | 3 | $ | 0 | 0 | 2,638 | 0 | 2,638 | Total | 4 | $ | 117 | — | 731 | 74 | 922 |
Type of modification | |||||||||||||||||||||||||||||||||||
Number of contracts | Rate | Payment | Maturity date | Other | Total | ||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||
Residential mortgage loans | 0 | $ | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||
Home equity loans | 1 | 67 | 0 | 0 | 0 | 67 | |||||||||||||||||||||||||||||
Vehicle loans | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||
Consumer loans | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||
Total Personal Banking | 1 | 67 | 0 | 0 | 0 | 67 | |||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||
Commercial real estate loans | 1 | 0 | 454 | 0 | 0 | 454 | |||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||
Commercial loans | 1 | 0 | 0 | 0 | 2,982 | 2,982 | |||||||||||||||||||||||||||||
Total Commercial Banking | 2 | 0 | 454 | 0 | 2,982 | 3,436 | |||||||||||||||||||||||||||||
Total | 3 | $ | 67 | 454 | 0 | 2,982 | 3,503 |
Type of modification | |||||||||||||||||||||||||||||||||||
Number of contracts | Rate | Payment | Maturity date | Other | Total | ||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||
Residential mortgage loans | 1 | $ | 116 | 0 | 0 | 0 | 116 | ||||||||||||||||||||||||||||
Home equity loans | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||
Vehicle loans | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||
Consumer loans | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||
Total Personal Banking | 2 | 116 | 0 | 0 | 0 | 116 | |||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||
Commercial real estate loans | 3 | 0 | 0 | 1,052 | 73 | 1,125 | |||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||
Commercial loans | 2 | 0 | 0 | 2,295 | 0 | 2,295 | |||||||||||||||||||||||||||||
Total Commercial Banking | 5 | 0 | 0 | 3,347 | 73 | 3,420 | |||||||||||||||||||||||||||||
Total | 7 | $ | 116 | 0 | 3,347 | 73 | 3,536 |
Type of modification | |||||||||||||||||||||||||||||||||||
Number of contracts | Rate | Payment | Maturity date | Other | Total | ||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||
Residential mortgage loans | 0 | $ | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||
Home equity loans | 2 | 67 | 0 | 17 | 0 | 84 | |||||||||||||||||||||||||||||
Vehicle loans | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||
Consumer loans | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||
Total Personal Banking | 2 | 67 | 0 | 17 | 0 | 84 | |||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||
Commercial real estate loans | 1 | 0 | 454 | 0 | 0 | 454 | |||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 2 | 0 | 0 | 2,051 | 0 | 2,051 | |||||||||||||||||||||||||||||
Commercial loans | 1 | 0 | 0 | 0 | 2,982 | 2,982 | |||||||||||||||||||||||||||||
Total Commercial Banking | 4 | 0 | 454 | 2,051 | 2,982 | 5,487 | |||||||||||||||||||||||||||||
Total | 6 | $ | 67 | 454 | 2,068 | 2,982 | 5,571 |
Number of contracts | Recorded investment at the time of modification | Current recorded investment | Current allowance | ||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||
Residential mortgage loans | 0 | $ | 0 | 0 | 0 | ||||||||||||||||||
Home equity loans | 0 | 0 | 0 | 0 | |||||||||||||||||||
Vehicle loans | 0 | 0 | 0 | 0 | |||||||||||||||||||
Consumer loans | 0 | 0 | 0 | 0 | |||||||||||||||||||
Total Personal Banking | 0 | 0 | 0 | 0 | |||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||
Commercial real estate loans | 1 | 454 | 454 | 50 | |||||||||||||||||||
Commercial real estate loans - owner occupied | 0 | 0 | 0 | 0 | |||||||||||||||||||
Commercial loans | 0 | 0 | 0 | 0 | |||||||||||||||||||
Total Commercial Banking | 1 | $ | 454 | 454 | 50 | ||||||||||||||||||
Total | 1 | $ | 454 | 454 | 50 |
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 | — |
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 | $ | 606 | 4,051 | 10,007 | 14,664 | 2,939,887 | 2,954,551 | 0 | |||||||||||||||||||||||||||||||||
Home equity loans | 3,677 | 1,502 | 6,256 | 11,435 | 1,364,793 | 1,376,228 | 0 | ||||||||||||||||||||||||||||||||||
Vehicle loans | 4,475 | 1,392 | 1,917 | 7,784 | 1,383,736 | 1,391,520 | 0 | ||||||||||||||||||||||||||||||||||
Consumer loans | 1,096 | 596 | 726 | 2,418 | 351,293 | 353,711 | 302 | ||||||||||||||||||||||||||||||||||
Total Personal Banking | 9,854 | 7,541 | 18,906 | 36,301 | 6,039,709 | 6,076,010 | 302 | ||||||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | 2,857 | 1,335 | 22,702 | 26,894 | 2,756,157 | 2,783,051 | 0 | ||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 0 | 0 | 862 | 862 | 431,276 | 432,138 | 0 | ||||||||||||||||||||||||||||||||||
Commercial loans | 686 | 27 | 4,126 | 4,839 | 1,013,942 | 1,018,781 | 0 | ||||||||||||||||||||||||||||||||||
Total Commercial Banking | 3,543 | 1,362 | 27,690 | 32,595 | 4,201,375 | 4,233,970 | 0 | ||||||||||||||||||||||||||||||||||
Total loans | $ | 13,397 | 8,903 | 46,596 | 68,896 | 10,241,084 | 10,309,980 | 302 |
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 | $ | 24,057 | 1,950 | 3,976 | 29,983 | 3,091,906 | 3,121,889 | — | |||||||||||||||||||||||||||||||||
Home equity loans | 3,867 | 1,138 | 2,968 | 7,973 | 1,278,547 | 1,286,520 | — | ||||||||||||||||||||||||||||||||||
Vehicle loans | 4,724 | 1,324 | 1,432 | 7,480 | 1,539,775 | 1,547,255 | — | ||||||||||||||||||||||||||||||||||
Consumer loans | 1,319 | 515 | 770 | 2,604 | 346,122 | 348,726 | 420 | ||||||||||||||||||||||||||||||||||
Total Personal Banking | 33,967 | 4,927 | 9,146 | 48,040 | 6,256,350 | 6,304,390 | 420 | ||||||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | 2,485 | 112 | 21,264 | 23,861 | 2,549,680 | 2,573,541 | — | ||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 1,158 | — | 135 | 1,293 | 385,059 | 386,352 | — | ||||||||||||||||||||||||||||||||||
Commercial loans | 1,268 | 103 | 795 | 2,166 | 872,585 | 874,751 | — | ||||||||||||||||||||||||||||||||||
Total Commercial Banking | 4,911 | 215 | 22,194 | 27,320 | 3,807,324 | 3,834,644 | — | ||||||||||||||||||||||||||||||||||
Total loans | $ | 38,878 | 5,142 | 31,340 | 75,360 | 10,063,674 | 10,139,034 | 420 |
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 | 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: | Personal Banking: | Personal Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | Residential mortgage loans | $ | 28,797 | 5,083 | 14,489 | 48,369 | 3,019,752 | 3,068,121 | 0 | Residential mortgage loans | $ | 20,567 | 5,433 | 7,641 | 33,641 | 2,960,979 | 2,994,620 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity loans | Home equity loans | 4,763 | 1,656 | 8,441 | 14,860 | 1,452,876 | 1,467,736 | 0 | Home equity loans | 3,153 | 949 | 4,262 | 8,364 | 1,311,567 | 1,319,931 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vehicle loans | Vehicle loans | 7,707 | 1,776 | 4,599 | 14,082 | 1,138,592 | 1,152,674 | 1 | Vehicle loans | 5,331 | 1,487 | 1,635 | 8,453 | 1,475,778 | 1,484,231 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer loans | Consumer loans | 2,867 | 966 | 1,459 | 5,292 | 350,027 | 355,319 | 584 | Consumer loans | 1,205 | 519 | 765 | 2,489 | 352,028 | 354,517 | 331 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Personal Banking | Total Personal Banking | 44,134 | 9,481 | 28,988 | 82,603 | 5,961,247 | 6,043,850 | 585 | Total Personal Banking | 30,256 | 8,388 | 14,303 | 52,947 | 6,100,352 | 6,153,299 | 331 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Banking: | Commercial Banking: | Commercial Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | Commercial real estate loans | 6,692 | 1,615 | 23,307 | 31,614 | 2,816,366 | 2,847,980 | 0 | Commercial real estate loans | 16,938 | 699 | 23,489 | 41,126 | 2,584,355 | 2,625,481 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | Commercial real estate loans - owner occupied | 4,231 | 0 | 1,980 | 6,211 | 491,698 | 497,909 | 0 | Commercial real estate loans - owner occupied | 127 | 70 | 574 | 771 | 389,232 | 390,003 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | Commercial loans | 6,405 | 864 | 7,325 | 14,594 | 1,176,516 | 1,191,110 | 0 | Commercial loans | 193 | 727 | 1,105 | 2,025 | 845,584 | 847,609 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial Banking | Total Commercial Banking | 17,328 | 2,479 | 32,612 | 52,419 | 4,484,580 | 4,536,999 | 0 | Total Commercial Banking | 17,258 | 1,496 | 25,168 | 43,922 | 3,819,171 | 3,863,093 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total originated loans | Total originated loans | $ | 61,462 | 11,960 | 61,600 | 135,022 | 10,445,827 | 10,580,849 | 585 | Total originated loans | $ | 47,514 | 9,884 | 39,471 | 96,869 | 9,919,523 | 10,016,392 | 331 |
YTD June 30, 2021 | 2020 | 2019 | 2018 | 2017 | Prior | Revolving loans | Revolving loans converted to term loans | Total loans receivable | |||||||||||||||||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 300,509 | 641,609 | 348,382 | 185,748 | 204,651 | 1,256,519 | 0 | 0 | 2,937,418 | |||||||||||||||||||||||||||||||||||||||||||
Substandard | 0 | 495 | 0 | 1,343 | 1,059 | 14,236 | 0 | 0 | 17,133 | ||||||||||||||||||||||||||||||||||||||||||||
Total residential mortgage loans | 300,509 | 642,104 | 348,382 | 187,091 | 205,710 | 1,270,755 | 0 | 0 | 2,954,551 | ||||||||||||||||||||||||||||||||||||||||||||
Home equity loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 76,844 | 242,949 | 162,871 | 77,955 | 72,820 | 251,135 | 440,990 | 42,201 | 1,367,765 | ||||||||||||||||||||||||||||||||||||||||||||
Substandard | 0 | 66 | 245 | 200 | 424 | 4,656 | 1,800 | 1,072 | 8,463 | ||||||||||||||||||||||||||||||||||||||||||||
Total home equity loans | 76,844 | 243,015 | 163,116 | 78,155 | 73,244 | 255,791 | 442,790 | 43,273 | 1,376,228 | ||||||||||||||||||||||||||||||||||||||||||||
Vehicle loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 494,650 | 369,808 | 272,201 | 163,243 | 49,891 | 39,147 | 0 | 0 | 1,388,940 | ||||||||||||||||||||||||||||||||||||||||||||
Substandard | 12 | 208 | 790 | 677 | 459 | 434 | 0 | 0 | 2,580 | ||||||||||||||||||||||||||||||||||||||||||||
Total vehicle loans | 494,662 | 370,016 | 272,991 | 163,920 | 50,350 | 39,581 | 0 | 0 | 1,391,520 | ||||||||||||||||||||||||||||||||||||||||||||
Consumer loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 68,379 | 103,618 | 62,378 | 26,667 | 12,898 | 15,131 | 62,071 | 1,790 | 352,932 | ||||||||||||||||||||||||||||||||||||||||||||
Substandard | 129 | 89 | 125 | 39 | 17 | 34 | 318 | 28 | 779 | ||||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 68,508 | 103,707 | 62,503 | 26,706 | 12,915 | 15,165 | 62,389 | 1,818 | 353,711 | ||||||||||||||||||||||||||||||||||||||||||||
Total Personal Banking | 940,523 | 1,358,842 | 846,992 | 455,872 | 342,219 | 1,581,292 | 505,179 | 45,091 | 6,076,010 | ||||||||||||||||||||||||||||||||||||||||||||
Business Banking: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 132,129 | 455,283 | 445,635 | 293,714 | 249,646 | 778,071 | 29,786 | 16,779 | 2,401,043 | ||||||||||||||||||||||||||||||||||||||||||||
Special Mention | 599 | 1,333 | 27,316 | 2,604 | 6,901 | 21,311 | 669 | 0 | 60,733 | ||||||||||||||||||||||||||||||||||||||||||||
Substandard | 0 | 33,432 | 21,064 | 64,704 | 59,893 | 134,247 | 593 | 7,342 | 321,275 | ||||||||||||||||||||||||||||||||||||||||||||
Total commercial real estate loans | 132,728 | 490,048 | 494,015 | 361,022 | 316,440 | 933,629 | 31,048 | 24,121 | 2,783,051 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 20,891 | 30,499 | 58,526 | 80,173 | 59,144 | 126,007 | 1,849 | 3,602 | 380,691 | ||||||||||||||||||||||||||||||||||||||||||||
Special Mention | 0 | 0 | 2,719 | 1,175 | 4,152 | 3,453 | 935 | 0 | 12,434 | ||||||||||||||||||||||||||||||||||||||||||||
Substandard | 0 | 0 | 2,832 | 1,456 | 11,743 | 22,443 | 368 | 171 | 39,013 | ||||||||||||||||||||||||||||||||||||||||||||
Total commercial real estate loans - owner occupied | 20,891 | 30,499 | 64,077 | 82,804 | 75,039 | 151,903 | 3,152 | 3,773 | 432,138 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 267,471 | 163,309 | 87,765 | 38,255 | 41,393 | 101,885 | 229,252 | 14,335 | 943,665 | ||||||||||||||||||||||||||||||||||||||||||||
Special Mention | 587 | 5,279 | 837 | 1,018 | 190 | 708 | 2,647 | 0 | 11,266 | ||||||||||||||||||||||||||||||||||||||||||||
Substandard | 234 | 7,089 | 7,236 | 6,470 | 5,191 | 3,548 | 16,487 | 17,595 | 63,850 | ||||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | 268,292 | 175,677 | 95,838 | 45,743 | 46,774 | 106,141 | 248,386 | 31,930 | 1,018,781 | ||||||||||||||||||||||||||||||||||||||||||||
Total Business Banking | 421,911 | 696,224 | 653,930 | 489,569 | 438,253 | 1,191,673 | 282,586 | 59,824 | 4,233,970 | ||||||||||||||||||||||||||||||||||||||||||||
Total loans | $ | 1,362,434 | 2,055,066 | 1,500,922 | 945,441 | 780,472 | 2,772,965 | 787,765 | 104,915 | 10,309,980 |
YTD March 31, 2022 | 2021 | 2020 | 2019 | 2018 | Prior | Revolving loans | Revolving loans converted to term loans | Total loans receivable | |||||||||||||||||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 81,603 | 810,544 | 585,855 | 289,202 | 146,678 | 1,194,484 | — | — | 3,108,366 | |||||||||||||||||||||||||||||||||||||||||||
Substandard | — | — | 583 | 375 | 238 | 12,327 | — | — | 13,523 | ||||||||||||||||||||||||||||||||||||||||||||
Total residential mortgage loans | 81,603 | 810,544 | 586,438 | 289,577 | 146,916 | 1,206,811 | — | — | 3,121,889 | ||||||||||||||||||||||||||||||||||||||||||||
Home equity loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 27,811 | 145,099 | 199,289 | 128,051 | 60,585 | 250,728 | 426,764 | 42,015 | 1,280,342 | ||||||||||||||||||||||||||||||||||||||||||||
Substandard | — | — | 66 | 303 | 191 | 3,507 | 1,176 | 935 | 6,178 | ||||||||||||||||||||||||||||||||||||||||||||
Total home equity loans | 27,811 | 145,099 | 199,355 | 128,354 | 60,776 | 254,235 | 427,940 | 42,950 | 1,286,520 | ||||||||||||||||||||||||||||||||||||||||||||
Vehicle loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 223,063 | 729,574 | 260,616 | 177,605 | 101,513 | 52,103 | — | — | 1,544,474 | ||||||||||||||||||||||||||||||||||||||||||||
Substandard | — | 541 | 390 | 856 | 531 | 463 | — | — | 2,781 | ||||||||||||||||||||||||||||||||||||||||||||
Total vehicle loans | 223,063 | 730,115 | 261,006 | 178,461 | 102,044 | 52,566 | — | — | 1,547,255 | ||||||||||||||||||||||||||||||||||||||||||||
Consumer loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 28,887 | 106,849 | 71,992 | 40,506 | 17,879 | 20,568 | 59,537 | 1,470 | 347,688 | ||||||||||||||||||||||||||||||||||||||||||||
Substandard | — | 203 | 103 | 153 | 64 | 80 | 422 | 13 | 1,038 | ||||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 28,887 | 107,052 | 72,095 | 40,659 | 17,943 | 20,648 | 59,959 | 1,483 | 348,726 | ||||||||||||||||||||||||||||||||||||||||||||
Total Personal Banking | 361,364 | 1,792,810 | 1,118,894 | 637,051 | 327,679 | 1,534,260 | 487,899 | 44,433 | 6,304,390 | ||||||||||||||||||||||||||||||||||||||||||||
Business Banking: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 25,880 | 324,062 | 451,209 | 319,291 | 249,608 | 868,339 | 28,639 | 9,583 | 2,276,611 | ||||||||||||||||||||||||||||||||||||||||||||
Special mention | — | 794 | 4,070 | 46,100 | 1,189 | 5,206 | 1,253 | — | 58,612 | ||||||||||||||||||||||||||||||||||||||||||||
Substandard | — | 97 | 8,358 | 44,165 | 44,672 | 133,415 | 492 | 7,119 | 238,318 | ||||||||||||||||||||||||||||||||||||||||||||
Total commercial real estate loans | 25,880 | 324,953 | 463,637 | 409,556 | 295,469 | 1,006,960 | 30,384 | 16,702 | 2,573,541 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 26,504 | 67,571 | 18,312 | 42,419 | 51,402 | 145,640 | 3,839 | 1,510 | 357,197 | ||||||||||||||||||||||||||||||||||||||||||||
Special mention | — | — | — | 647 | 2,046 | 722 | 64 | — | 3,479 | ||||||||||||||||||||||||||||||||||||||||||||
Substandard | — | — | — | 4,790 | 3,457 | 15,510 | — | 1,919 | 25,676 | ||||||||||||||||||||||||||||||||||||||||||||
Total commercial real estate loans - owner occupied | 26,504 | 67,571 | 18,312 | 47,856 | 56,905 | 161,872 | 3,903 | 3,429 | 386,352 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 182,912 | 163,204 | 97,395 | 65,195 | 24,462 | 61,417 | 238,852 | 5,688 | 839,125 | ||||||||||||||||||||||||||||||||||||||||||||
Special mention | 166 | 180 | 616 | 625 | 386 | 2 | 1,302 | — | 3,277 | ||||||||||||||||||||||||||||||||||||||||||||
Substandard | — | 246 | 1,463 | 3,725 | 2,616 | 2,763 | 11,263 | 10,273 | 32,349 | ||||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | 183,078 | 163,630 | 99,474 | 69,545 | 27,464 | 64,182 | 251,417 | 15,961 | 874,751 | ||||||||||||||||||||||||||||||||||||||||||||
Total Business Banking | 235,462 | 556,154 | 581,423 | 526,957 | 379,838 | 1,233,014 | 285,704 | 36,092 | 3,834,644 | ||||||||||||||||||||||||||||||||||||||||||||
Total loans | $ | 596,826 | 2,348,964 | 1,700,317 | 1,164,008 | 707,517 | 2,767,274 | 773,603 | 80,525 | 10,139,034 |
YTD December 31, 2020 | 2019 | 2018 | 2017 | 2016 | Prior | Revolving loans | Revolving loans converted to term loans | Total loans receivable | 2021 | 2020 | 2019 | 2018 | 2017 | Prior | Revolving loans | Revolving loans converted to term loans | Total loans receivable | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Personal Banking: | Personal Banking: | Personal Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | Residential mortgage loans | Residential mortgage loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | Pass | $ | 641,963 | 418,057 | 229,477 | 247,426 | 215,893 | 1,289,728 | 0 | 0 | 3,042,544 | Pass | $ | 644,862 | 602,429 | 304,275 | 156,639 | 171,240 | 1,098,635 | — | — | 2,978,080 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | Substandard | 0 | 68 | 1,293 | 1,674 | 1,091 | 21,451 | 0 | 0 | 25,577 | Substandard | 138 | 489 | 377 | 538 | 882 | 14,116 | — | — | 16,540 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total residential mortgage loans | Total residential mortgage loans | 641,963 | 418,125 | 230,770 | 249,100 | 216,984 | 1,311,179 | 0 | 0 | 3,068,121 | Total residential mortgage loans | 645,000 | 602,918 | 304,652 | 157,177 | 172,122 | 1,112,751 | — | — | 2,994,620 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity loans | Home equity loans | Home equity loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | Pass | 273,076 | 193,439 | 94,757 | 87,717 | 81,212 | 219,061 | 465,453 | 40,759 | 1,455,474 | Pass | 150,847 | 210,224 | 138,661 | 65,011 | 61,692 | 209,959 | 435,660 | 40,766 | 1,312,820 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | Substandard | 0 | 210 | 318 | 281 | 876 | 5,158 | 3,509 | 1,910 | 12,262 | Substandard | — | — | 441 | 60 | 455 | 3,820 | 1,275 | 1,060 | 7,111 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total home equity loans | Total home equity loans | 273,076 | 193,649 | 95,075 | 87,998 | 82,088 | 224,219 | 468,962 | 42,669 | 1,467,736 | 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 | Vehicle loans | Vehicle loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | Pass | 448,746 | 352,661 | 218,372 | 70,122 | 31,197 | 24,791 | 0 | 0 | 1,145,889 | Pass | 801,084 | 292,804 | 205,653 | 119,304 | 34,546 | 27,576 | — | — | 1,480,967 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | Substandard | 343 | 1,958 | 2,087 | 1,210 | 667 | 519 | 0 | 0 | 6,784 | Substandard | 387 | 365 | 1,141 | 745 | 379 | 247 | — | — | 3,264 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total vehicle loans | Total vehicle loans | 449,089 | 354,619 | 220,459 | 71,332 | 31,864 | 25,310 | 0 | 0 | 1,152,673 | Total vehicle loans | 801,471 | 293,169 | 206,794 | 120,049 | 34,925 | 27,823 | — | — | 1,484,231 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer loans | Consumer loans | Consumer loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | Pass | 128,809 | 83,419 | 35,183 | 17,439 | 7,848 | 11,757 | 66,965 | 1,695 | 353,115 | Pass | 117,856 | 81,266 | 47,195 | 20,595 | 9,794 | 12,202 | 63,025 | 1,578 | 353,511 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | Substandard | 133 | 399 | 139 | 192 | 36 | 619 | 686 | 1 | 2,205 | Substandard | 213 | 161 | 105 | 64 | 26 | 50 | 357 | 30 | 1,006 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | Total consumer loans | 128,942 | 83,818 | 35,322 | 17,631 | 7,884 | 12,376 | 67,651 | 1,696 | 355,320 | Total consumer loans | 118,069 | 81,427 | 47,300 | 20,659 | 9,820 | 12,252 | 63,382 | 1,608 | 354,517 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Personal Banking | Total Personal Banking | 1,493,070 | 1,050,211 | 581,626 | 426,061 | 338,820 | 1,573,084 | 536,613 | 44,365 | 6,043,850 | 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: | Business Banking: | Business Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | Commercial real estate loans | Commercial real estate loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | Pass | 417,390 | 473,115 | 316,045 | 264,702 | 195,168 | 709,459 | 36,980 | 29,755 | 2,442,614 | Pass | 306,689 | 433,219 | 335,541 | 263,524 | 221,450 | 683,537 | 26,288 | 10,179 | 2,280,427 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Special Mention | 584 | 3,381 | 20,180 | 24,675 | 15,424 | 15,817 | 597 | 3,048 | 83,706 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Special mention | Special mention | 803 | 1,808 | 52,513 | 3,296 | 1,394 | 8,529 | 729 | 23 | 69,095 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | Substandard | 7,426 | 4,007 | 57,694 | 56,991 | 24,056 | 140,147 | 2,240 | 29,100 | 321,661 | Substandard | — | 34,153 | 44,712 | 46,045 | 56,077 | 89,311 | 492 | 5,169 | 275,959 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total commercial real estate loans | Total commercial real estate loans | 425,400 | 480,503 | 393,919 | 346,368 | 234,648 | 865,423 | 39,817 | 61,903 | 2,847,981 | 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 loans - owner occupied | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate - owner occupied | Commercial real estate - owner occupied | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | Pass | 24,895 | 67,162 | 87,497 | 71,626 | 46,760 | 100,081 | 4,422 | 7,648 | 410,091 | Pass | 69,084 | 19,452 | 51,997 | 60,824 | 57,676 | 94,687 | 2,822 | 2,707 | 359,249 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Special Mention | 0 | 4,371 | 4,514 | 3,643 | 4,276 | 3,689 | 3,822 | 0 | 24,315 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Special mention | Special mention | — | — | — | 769 | 1,959 | 1,444 | 856 | — | 5,028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | Substandard | 0 | 21,627 | 1,903 | 12,898 | 4,013 | 21,777 | 874 | 410 | 63,502 | Substandard | — | — | 3,575 | 2,887 | 7,840 | 10,602 | — | 822 | 25,726 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total commercial real estate loans - owner occupied | 24,895 | 93,160 | 93,914 | 88,167 | 55,049 | 125,547 | 9,118 | 8,058 | 497,908 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total commercial real estate - owner occupied loans | 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 | Commercial loans | Commercial loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | Pass | 479,436 | 99,877 | 50,915 | 51,858 | 58,597 | 49,178 | 286,467 | 16,170 | 1,092,498 | Pass | 224,367 | 110,171 | 73,276 | 27,668 | 20,748 | 76,987 | 262,805 | 12,301 | 808,323 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Special Mention | 5,828 | 2,751 | 5,579 | 4,588 | 162 | 190 | 16,512 | 5,668 | 41,278 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Special mention | Special mention | 197 | 661 | 812 | 1,195 | 50 | 581 | 2,234 | — | 5,730 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | Substandard | 1,660 | 3,343 | 2,932 | 2,016 | 2,266 | 3,003 | 27,988 | 14,126 | 57,334 | Substandard | 329 | 4,767 | 5,102 | 4,437 | 1,529 | 2,116 | 6,667 | 8,609 | 33,556 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | Total commercial loans | 486,924 | 105,971 | 59,426 | 58,462 | 61,025 | 52,371 | 330,967 | 35,964 | 1,191,110 | Total commercial loans | 224,893 | 115,599 | 79,190 | 33,300 | 22,327 | 79,684 | 271,706 | 20,910 | 847,609 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Business Banking | Total Business Banking | 937,219 | 679,634 | 547,259 | 492,997 | 350,722 | 1,043,341 | 379,902 | 105,925 | 4,536,999 | Total Business Banking | 601,469 | 604,231 | 567,528 | 410,645 | 368,723 | 967,794 | 302,893 | 39,810 | 3,863,093 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total loans | Total loans | $ | 2,430,289 | 1,729,845 | 1,128,885 | 919,058 | 689,542 | 2,616,425 | 916,515 | 150,290 | 10,580,849 | 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 |
June 30, 2021 | December 31, 2020 | March 31, 2022 | December 31, 2021 | |||||||||||||||||||
Amortizable intangible assets: | Amortizable intangible assets: | Amortizable intangible assets: | ||||||||||||||||||||
Core deposit intangibles - gross | Core deposit intangibles - gross | $ | 74,899 | 71,182 | Core deposit intangibles - gross | $ | 74,899 | 74,899 | ||||||||||||||
Acquisitions | Acquisitions | 0 | 3,717 | Acquisitions | — | — | ||||||||||||||||
Less: accumulated amortization | Less: accumulated amortization | (59,680) | (56,896) | Less: accumulated amortization | (63,320) | (62,158) | ||||||||||||||||
Core deposit intangibles - net | Core deposit intangibles - net | $ | 15,219 | 18,003 | Core deposit intangibles - net | $ | 11,579 | 12,741 | ||||||||||||||
Customer and Contract intangible assets - gross | Customer and Contract intangible assets - gross | $ | 12,775 | 12,775 | Customer and Contract intangible assets - gross | $ | 12,775 | 12,775 | ||||||||||||||
Customer list intangible assets disposed of due to sale of insurance business | Customer list intangible assets disposed of due to sale of insurance business | (1,591) | 0 | Customer list intangible assets disposed of due to sale of insurance business | — | (1,547) | ||||||||||||||||
Less: accumulated amortization | Less: accumulated amortization | (11,041) | (10,842) | Less: accumulated amortization | (12,700) | (11,133) | ||||||||||||||||
Customer and Contract intangible assets - net | Customer and Contract intangible assets - net | 143 | 1,933 | Customer and Contract intangible assets - net | 75 | 95 | ||||||||||||||||
Total intangible assets - net | Total intangible assets - net | $ | 15,362 | 19,936 | Total intangible assets - net | $ | 11,654 | 12,836 |
For the quarter ended | $ | ||||||
For the quarter ended | |||||||
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 | 305 |
Total | ||||||||
Balance at December 31, | $ | |||||||
382,279 | ||||||||
Purchase accounting adjustment | 77 | |||||||
Goodwill disposed of due to sale of insurance business | (1,359) | |||||||
Balance at | 380,997 | |||||||
Balance at March 31, 2022 | $ | 380,997 |
June 30, 2021 | |||||||||||
Amount | Average rate | ||||||||||
Collateralized borrowings, due within one year | $ | 133,876 | 0.19 | % | |||||||
Subordinated debentures, net of issuance costs | 123,501 | 4.00 | % | ||||||||
Total borrowed funds | $ | 257,377 |
March 31, 2022 | December 31, 2021 | ||||||||||||||||||||||
Amount | Average rate | Amount | Average rate | ||||||||||||||||||||
Collateralized borrowings, due within one year | $ | 121,436 | 0.19 | % | $ | 139,093 | 0.19 | % | |||||||||||||||
Total borrowed funds | $ | 121,436 | $ | 139,093 |
Maturity date | Interest rate | Capital debt securities | June 30, 2021 | Maturity date | Interest rate | Capital debt securities | March 31, 2022 | December 31, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Northwest Bancorp Capital Trust III | Northwest Bancorp Capital Trust III | December 30, 2035 | 3-month LIBOR plus 1.38% | $50,000 | $ | 51,547 | 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 | Northwest Bancorp Statutory Trust IV | December 15, 2035 | 3-month LIBOR plus 1.38% | 50,000 | 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 | LNB Trust II | June 15, 2037 | 3-month LIBOR plus 1.48% | 7,875 | 8,119 | LNB Trust II | June 15, 2037 | 3-month LIBOR plus 1.48% | 7,875 | 8,119 | 8,119 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UNCT I (1) | UNCT I (1) | January 23, 2034 | 3-month LIBOR plus 2.85% | 8,000 | 7,938 | UNCT I (1) | January 23, 2034 | 3-month LIBOR plus 2.85% | 8,000 | 7,956 | 7,950 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UNCT II (1) | UNCT II (1) | November 23, 2034 | 3-month LIBOR plus 2.00% | 3,000 | 2,727 | UNCT II (1) | November 23, 2034 | 3-month LIBOR plus 2.00% | 3,000 | 2,748 | 2,741 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MFBC Statutory Trust I (1) | MFBC Statutory Trust I (1) | September 15, 2035 | 3-month LIBOR plus 1.70% | 5,000 | 3,528 | MFBC Statutory Trust I (1) | September 15, 2035 | 3-month LIBOR plus 1.70% | 5,000 | 3,606 | 3,580 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Universal Preferred Trust (1) | Universal Preferred Trust (1) | October 7, 2035 | 3-month LIBOR plus 1.69% | 5,000 | 3,518 | Universal Preferred Trust (1) | October 7, 2035 | 3-month LIBOR plus 1.69% | 5,000 | 3,596 | 3,570 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 128,924 | $ | 129,119 | 129,054 |
Quarter ended June 30, | Six months ended June 30, | Quarter ended March 31, | ||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2022 | 2021 | |||||||||||||||||||||||||||||||||||||||||
Net income | Net income | $ | 48,967 | (6,200) | 89,204 | 1,739 | Net income | $ | 28,287 | 40,237 | ||||||||||||||||||||||||||||||||||||
Less: Dividends and undistributed earnings allocated to participating securities | Less: Dividends and undistributed earnings allocated to participating securities | 340 | (47) | 619 | 13 | Less: Dividends and undistributed earnings allocated to participating securities | 177 | — | ||||||||||||||||||||||||||||||||||||||
Net income available to common shareholders | Net income available to common shareholders | $ | 48,627 | (6,153) | 88,585 | 1,726 | Net income available to common shareholders | $ | 28,110 | 40,237 | ||||||||||||||||||||||||||||||||||||
Weighted average common shares outstanding | Weighted average common shares outstanding | 126,749,707 | 121,480,563 | 126,456,814 | 113,672,131 | Weighted average common shares outstanding | 125,861,738 | 126,182,409 | ||||||||||||||||||||||||||||||||||||||
Add: Participating shares outstanding | Add: Participating shares outstanding | 887,958 | 982,754 | 887,958 | 982,754 | Add: Participating shares outstanding | 791,217 | 517,615 | ||||||||||||||||||||||||||||||||||||||
Total weighted average common shares and dilutive potential shares | Total weighted average common shares and dilutive potential shares | $ | 127,637,665 | 122,463,317 | 127,344,772 | 114,654,885 | Total weighted average common shares and dilutive potential shares | 126,652,955 | 126,700,024 | |||||||||||||||||||||||||||||||||||||
Basic earnings per share | Basic earnings per share | $ | 0.38 | (0.05) | 0.70 | 0.02 | Basic earnings per share | $ | 0.22 | 0.32 | ||||||||||||||||||||||||||||||||||||
Diluted earnings per share | Diluted earnings per share | $ | 0.38 | (0.05) | 0.70 | 0.02 | Diluted earnings per share | $ | 0.22 | 0.32 |
Quarter ended June 30, | Quarter ended March 31, | |||||||||||||||||||||||||||||||||||||||||||||
Pension benefits | Other post-retirement benefits | Pension benefits | Other post-retirement benefits | |||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||||||||||||||||||
Service cost | Service cost | $ | 2,860 | 2,098 | 0 | 0 | Service cost | $ | 2,599 | 2,860 | — | — | ||||||||||||||||||||||||||||||||||
Interest cost | Interest cost | 1,518 | 1,714 | 5 | 6 | Interest cost | 1,671 | 1,517 | 10 | 4 | ||||||||||||||||||||||||||||||||||||
Expected return on plan assets | Expected return on plan assets | (3,465) | (3,091) | 0 | 0 | Expected return on plan assets | (3,864) | (3,465) | — | — | ||||||||||||||||||||||||||||||||||||
Amortization of prior service cost | Amortization of prior service cost | (581) | (581) | 0 | 0 | Amortization of prior service cost | (564) | (580) | — | — | ||||||||||||||||||||||||||||||||||||
Amortization of the net loss | Amortization of the net loss | 1,040 | 924 | 3 | 4 | Amortization of the net loss | 381 | 1,039 | 2 | 4 | ||||||||||||||||||||||||||||||||||||
Net periodic cost | Net periodic cost | $ | 1,372 | 1,064 | 8 | 10 | Net periodic cost | $ | 223 | 1,371 | 12 | 8 |
Six months ended June 30, | ||||||||||||||||||||||||||
Pension benefits | Other post-retirement benefits | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
Service cost | $ | 5,720 | 4,196 | 0 | 0 | |||||||||||||||||||||
Interest cost | 3,035 | 3,427 | 9 | 13 | ||||||||||||||||||||||
Expected return on plan assets | (6,930) | (6,182) | 0 | 0 | ||||||||||||||||||||||
Amortization of prior service cost | (1,161) | (1,161) | 0 | 0 | ||||||||||||||||||||||
Amortization of the net loss | 2,079 | 1,848 | 7 | 9 | ||||||||||||||||||||||
Net periodic cost | $ | 2,743 | 2,128 | 16 | 22 |
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: | Financial assets: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | Cash and cash equivalents | $ | 857,152 | 857,152 | 857,152 | 0 | 0 | Cash and cash equivalents | $ | 1,161,006 | 1,161,006 | 1,161,006 | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Securities available-for-sale | Securities available-for-sale | 1,599,024 | 1,599,024 | 0 | 1,599,024 | 0 | Securities available-for-sale | 1,442,098 | 1,442,098 | — | 1,442,098 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Securities held-to-maturity | Securities held-to-maturity | 639,424 | 632,620 | 0 | 632,620 | 0 | Securities held-to-maturity | 737,730 | 677,376 | — | 677,376 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Loans receivable, net | Loans receivable, net | 10,163,595 | 10,152,694 | 0 | 0 | 10,152,694 | Loans receivable, net | 10,020,467 | 9,389,401 | — | — | 9,389,401 | ||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans held-for-sale | Residential mortgage loans held-for-sale | 29,055 | 29,055 | 0 | 0 | 29,055 | Residential mortgage loans held-for-sale | 19,272 | 19,272 | — | — | 19,272 | ||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest receivable | Accrued interest receivable | 27,585 | 27,585 | 27,585 | 0 | 0 | Accrued interest receivable | 26,268 | 26,268 | 26,268 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Interest rate lock commitments | Interest rate lock commitments | 3,608 | 3,608 | 0 | 0 | 3,608 | Interest rate lock commitments | 1,680 | 1,680 | — | — | 1,680 | ||||||||||||||||||||||||||||||||||||||||||||||
Forward commitments | 393 | 393 | 0 | 393 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign exchange swaps | 94 | 94 | 0 | 94 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate swaps not designated as hedging instruments | Interest rate swaps not designated as hedging instruments | 38,054 | 38,054 | 0 | 38,054 | 0 | Interest rate swaps not designated as hedging instruments | 23,338 | 23,338 | — | 23,338 | — | ||||||||||||||||||||||||||||||||||||||||||||||
FHLB stock | FHLB stock | 23,287 | 23,287 | 0 | 0 | 0 | FHLB stock | 13,318 | 13,318 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Total financial assets | Total financial assets | $ | 13,381,271 | 13,363,566 | 884,737 | 2,270,185 | 10,185,357 | Total financial assets | $ | 13,445,177 | 12,753,757 | 1,187,274 | 2,142,812 | 9,410,353 | ||||||||||||||||||||||||||||||||||||||||||||
Financial liabilities: | Financial liabilities: | Financial liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Savings and checking deposits | Savings and checking deposits | $ | 10,627,610 | 10,627,610 | 10,627,610 | 0 | 0 | Savings and checking deposits | $ | 11,068,522 | 11,068,522 | 11,068,522 | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Time deposits | Time deposits | 1,463,098 | 1,480,940 | 0 | 0 | 1,480,940 | Time deposits | 1,251,878 | 1,261,070 | — | — | 1,261,070 | ||||||||||||||||||||||||||||||||||||||||||||||
Borrowed funds | Borrowed funds | 257,377 | 262,405 | 133,876 | 128,529 | 0 | Borrowed funds | 121,436 | 121,419 | 121,419 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Subordinated debt | Subordinated debt | 123,670 | 123,987 | — | 123,987 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Junior subordinated debentures | Junior subordinated debentures | 128,924 | 121,598 | 0 | 0 | 121,598 | Junior subordinated debentures | 129,119 | 115,159 | — | — | 115,159 | ||||||||||||||||||||||||||||||||||||||||||||||
Forward commitments | Forward commitments | 43 | 43 | — | 43 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign exchange swaps | Foreign exchange swaps | 4 | 4 | 0 | 4 | 0 | Foreign exchange swaps | 6 | 6 | — | 6 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Interest rate swaps not designated as hedging instruments | Interest rate swaps not designated as hedging instruments | 38,349 | 38,349 | 0 | 38,349 | 0 | Interest rate swaps not designated as hedging instruments | 23,363 | 23,363 | — | 23,363 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Risk participation agreements | Risk participation agreements | 84 | 84 | 0 | 84 | 0 | Risk participation agreements | 31 | 31 | — | 31 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest payable | Accrued interest payable | 1,820 | 1,820 | 1,820 | 0 | 0 | Accrued interest payable | 563 | 563 | 563 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Total financial liabilities | Total financial liabilities | $ | 12,517,266 | 12,532,810 | 10,763,306 | 166,966 | 1,602,538 | Total financial liabilities | $ | 12,718,631 | 12,714,163 | 11,190,504 | 147,430 | 1,376,229 |
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: | Financial assets: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | Cash and cash equivalents | $ | 736,277 | 736,277 | 736,277 | 0 | 0 | Cash and cash equivalents | $ | 1,279,259 | 1,279,259 | 1,279,259 | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Securities available-for-sale | Securities available-for-sale | 1,398,941 | 1,398,941 | 0 | 1,398,941 | 0 | Securities available-for-sale | 1,548,592 | 1,548,592 | — | 1,548,592 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Securities held-to-maturity | Securities held-to-maturity | 178,887 | 179,666 | 0 | 179,666 | 0 | Securities held-to-maturity | 768,154 | 751,513 | — | 751,513 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Loans receivable, net | Loans receivable, net | 10,387,636 | 10,334,521 | 0 | 0 | 10,334,521 | Loans receivable, net | 9,889,095 | 9,648,825 | — | — | 9,648,825 | ||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans held-for-sale | Residential mortgage loans held-for-sale | 58,786 | 58,786 | 0 | 0 | 58,786 | Residential mortgage loans held-for-sale | 25,056 | 25,056 | — | — | 25,056 | ||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest receivable | Accrued interest receivable | 35,554 | 35,554 | 35,554 | 0 | 0 | Accrued interest receivable | 25,599 | 25,599 | 25,599 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Interest rate lock commitments | Interest rate lock commitments | 6,465 | 6,465 | 0 | 0 | 6,465 | Interest rate lock commitments | 1,684 | 1,684 | — | — | 1,684 | ||||||||||||||||||||||||||||||||||||||||||||||
Forward commitments | Forward commitments | 1,105 | 1,105 | 0 | 1,105 | 0 | Forward commitments | 371 | 371 | — | 371 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Interest rate swaps not designated as hedging instruments | Interest rate swaps not designated as hedging instruments | 53,863 | 53,863 | 0 | 53,863 | 0 | Interest rate swaps not designated as hedging instruments | 31,254 | 31,254 | — | 31,254 | — | ||||||||||||||||||||||||||||||||||||||||||||||
FHLB stock | FHLB stock | 21,748 | 21,748 | 0 | 0 | 0 | FHLB stock | 14,184 | 14,184 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Total financial assets | Total financial assets | $ | 12,879,262 | 12,826,926 | 771,831 | 1,633,575 | 10,399,772 | Total financial assets | $ | 13,583,248 | 13,326,337 | 1,304,858 | 2,331,730 | 9,675,565 | ||||||||||||||||||||||||||||||||||||||||||||
Financial liabilities: | Financial liabilities: | Financial liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Savings and checking accounts | Savings and checking accounts | $ | 9,957,137 | 9,957,137 | 9,957,137 | 0 | 0 | Savings and checking accounts | $ | 10,973,610 | 10,973,610 | 10,973,610 | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Time deposits | Time deposits | 1,642,096 | 1,669,546 | 0 | 0 | 1,669,546 | Time deposits | 1,327,555 | 1,339,308 | — | — | 1,339,308 | ||||||||||||||||||||||||||||||||||||||||||||||
Borrowed funds | Borrowed funds | 283,044 | 283,074 | 159,745 | 123,329 | 0 | Borrowed funds | 139,093 | 139,093 | 139,093 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Subordinated debt | Subordinated debt | 123,575 | 129,138 | — | 129,138 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Junior subordinated debentures | Junior subordinated debentures | 128,794 | 121,106 | 0 | 0 | 121,106 | Junior subordinated debentures | 129,054 | 120,083 | — | — | 120,083 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | 54,579 | 54,579 | 0 | 54,579 | 0 | Interest rate swaps not designated as hedging instruments | 31,357 | 31,357 | — | 31,357 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Risk participation agreements | Risk participation agreements | 86 | 86 | 0 | 86 | 0 | Risk participation agreements | 60 | 60 | — | 60 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest payable | Accrued interest payable | 2,054 | 2,054 | 2,054 | 0 | 0 | Accrued interest payable | 1,804 | 1,804 | 1,804 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Total financial liabilities | Total financial liabilities | $ | 12,067,790 | 12,087,582 | 10,118,936 | 177,994 | 1,790,652 | 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 | $ | 0 | 59,254 | 0 | 59,254 | ||||||||||||||||||
Government-sponsored enterprises | 0 | 71,858 | 0 | 71,858 | |||||||||||||||||||
States and political subdivisions | 0 | 115,029 | 0 | 115,029 | |||||||||||||||||||
Total debt securities | 0 | 246,141 | 0 | 246,141 | |||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||
GNMA | 0 | 19,887 | 0 | 19,887 | |||||||||||||||||||
FNMA | 0 | 184,700 | 0 | 184,700 | |||||||||||||||||||
FHLMC | 0 | 114,475 | 0 | 114,475 | |||||||||||||||||||
Non-agency | 0 | 448 | 0 | 448 | |||||||||||||||||||
Collateralized mortgage obligations: | |||||||||||||||||||||||
GNMA | 0 | 490,520 | 0 | 490,520 | |||||||||||||||||||
FNMA | 0 | 306,516 | 0 | 306,516 | |||||||||||||||||||
FHLMC | 0 | 236,337 | 0 | 236,337 | |||||||||||||||||||
Total mortgage-backed securities | 0 | 1,352,883 | 0 | 1,352,883 | |||||||||||||||||||
Interest rate lock commitments | 0 | 0 | 3,608 | 3,608 | |||||||||||||||||||
Forward commitments | 0 | 393 | 0 | 393 | |||||||||||||||||||
Foreign exchange swaps | 0 | 94 | 0 | 94 | |||||||||||||||||||
Interest rate swaps not designated as hedging instruments | 0 | 38,054 | 0 | 38,054 | |||||||||||||||||||
Total assets | $ | 0 | 1,637,565 | 3,608 | 1,641,173 | ||||||||||||||||||
Foreign exchange swaps | $ | 0 | 4 | 0 | 4 | ||||||||||||||||||
Interest rate swaps not designated as hedging instruments | 0 | 38,349 | 0 | 38,349 | |||||||||||||||||||
Risk participation agreements | 0 | 84 | 0 | 84 | |||||||||||||||||||
Total liabilities | $ | 0 | 38,437 | 0 | 38,437 |
Level 1 | Level 2 | Level 3 | Total assets at fair value | ||||||||||||||||||||
Debt securities: | |||||||||||||||||||||||
U.S. government and agencies | $ | — | 70,652 | — | 70,652 | ||||||||||||||||||
Government-sponsored enterprises | — | 42,865 | — | 42,865 | |||||||||||||||||||
States and political subdivisions | — | 115,000 | — | 115,000 | |||||||||||||||||||
Total debt securities | — | 228,517 | — | 228,517 | |||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||
GNMA | — | 15,213 | — | 15,213 | |||||||||||||||||||
FNMA | — | 143,311 | — | 143,311 | |||||||||||||||||||
FHLMC | — | 89,488 | — | 89,488 | |||||||||||||||||||
Non-agency | — | 422 | — | 422 | |||||||||||||||||||
Collateralized mortgage obligations: | |||||||||||||||||||||||
GNMA | — | 441,895 | — | 441,895 | |||||||||||||||||||
FNMA | — | 239,181 | — | 239,181 | |||||||||||||||||||
FHLMC | — | 284,071 | — | 284,071 | |||||||||||||||||||
Total mortgage-backed securities | — | 1,213,581 | — | 1,213,581 | |||||||||||||||||||
Interest rate lock commitments | — | — | 1,680 | 1,680 | |||||||||||||||||||
Interest rate swaps not designated as hedging instruments | — | 23,338 | — | 23,338 | |||||||||||||||||||
Total assets | $ | — | 1,465,436 | 1,680 | 1,467,116 | ||||||||||||||||||
Forward commitments | $ | — | 43 | — | 43 | ||||||||||||||||||
Foreign exchange swaps | — | 6 | — | 6 | |||||||||||||||||||
Interest rate swaps not designated as hedging instruments | — | 23,363 | — | 23,363 | |||||||||||||||||||
Risk participation agreements | — | 31 | — | 31 | |||||||||||||||||||
Total liabilities | $ | — | 23,443 | — | 23,443 |
Level 1 | Level 2 | Level 3 | Total assets at fair value | Level 1 | Level 2 | Level 3 | Total assets at fair value | |||||||||||||||||||||||||||||||||||||||
Debt securities: | Debt securities: | Debt securities: | ||||||||||||||||||||||||||||||||||||||||||||
U.S. government and agencies | U.S. government and agencies | $ | 0 | 40,917 | 0 | 40,917 | U.S. government and agencies | $ | — | 75,891 | — | 75,891 | ||||||||||||||||||||||||||||||||||
Government-sponsored enterprises | Government-sponsored enterprises | 0 | 94,507 | 0 | 94,507 | Government-sponsored enterprises | — | 46,085 | — | 46,085 | ||||||||||||||||||||||||||||||||||||
States and political subdivisions | States and political subdivisions | 0 | 116,813 | 0 | 116,813 | States and political subdivisions | — | 128,701 | — | 128,701 | ||||||||||||||||||||||||||||||||||||
Total debt securities | Total debt securities | 0 | 252,237 | 0 | 252,237 | Total debt securities | — | 250,677 | — | 250,677 | ||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | Residential mortgage-backed securities: | Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||
GNMA | GNMA | 0 | 23,026 | 0 | 23,026 | GNMA | — | 16,510 | — | 16,510 | ||||||||||||||||||||||||||||||||||||
FNMA | FNMA | 0 | 203,571 | 0 | 203,571 | FNMA | — | 160,063 | — | 160,063 | ||||||||||||||||||||||||||||||||||||
FHLMC | FHLMC | 0 | 134,572 | 0 | 134,572 | FHLMC | — | 100,055 | — | 100,055 | ||||||||||||||||||||||||||||||||||||
Non-agency | Non-agency | 0 | 465 | 0 | 465 | Non-agency | — | 431 | — | 431 | ||||||||||||||||||||||||||||||||||||
Collateralized mortgage obligations: | Collateralized mortgage obligations: | Collateralized mortgage obligations: | ||||||||||||||||||||||||||||||||||||||||||||
GNMA | GNMA | 0 | 343,409 | 0 | 343,409 | GNMA | — | 492,328 | — | 492,328 | ||||||||||||||||||||||||||||||||||||
FNMA | FNMA | 0 | 262,109 | 0 | 262,109 | FNMA | — | 269,060 | — | 269,060 | ||||||||||||||||||||||||||||||||||||
FHLMC | FHLMC | 0 | 179,552 | 0 | 179,552 | FHLMC | — | 259,468 | — | 259,468 | ||||||||||||||||||||||||||||||||||||
Total mortgage-backed securities | Total mortgage-backed securities | 0 | 1,146,704 | 0 | 1,146,704 | Total mortgage-backed securities | — | 1,297,915 | — | 1,297,915 | ||||||||||||||||||||||||||||||||||||
Interest rate lock commitments | Interest rate lock commitments | 0 | 0 | 6,465 | 6,465 | Interest rate lock commitments | — | — | 1,684 | 1,684 | ||||||||||||||||||||||||||||||||||||
Forward commitments | Forward commitments | 0 | 1,105 | 0 | 1,105 | Forward commitments | — | 371 | — | 371 | ||||||||||||||||||||||||||||||||||||
Interest rate swaps not designated as hedging instruments | Interest rate swaps not designated as hedging instruments | 0 | 53,863 | 0 | 53,863 | Interest rate swaps not designated as hedging instruments | — | 31,254 | — | 31,254 | ||||||||||||||||||||||||||||||||||||
Total assets | Total assets | $ | 0 | 1,453,909 | 6,465 | 1,460,374 | Total assets | $ | — | 1,580,217 | 1,684 | 1,581,901 | ||||||||||||||||||||||||||||||||||
Foreign exchange swaps | Foreign exchange swaps | $ | — | 341 | — | 341 | ||||||||||||||||||||||||||||||||||||||||
Interest rate swaps not designated as hedging instruments | Interest rate swaps not designated as hedging instruments | $ | 0 | 54,579 | 0 | 54,579 | Interest rate swaps not designated as hedging instruments | — | 31,357 | — | 31,357 | |||||||||||||||||||||||||||||||||||
Risk participation agreements | Risk participation agreements | 0 | 86 | 0 | 86 | Risk participation agreements | — | 60 | — | 60 | ||||||||||||||||||||||||||||||||||||
Total liabilities | Total liabilities | $ | 0 | 54,665 | 0 | 54,665 | Total liabilities | $ | — | 31,758 | — | 31,758 |
For the quarter ended June 30, | For the six months ended June 30, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
Beginning balance | $ | 5,060 | 507 | 6,465 | 559 | ||||||||||||||||||
Total gains or losses: | |||||||||||||||||||||||
Included in net income | 0 | 0 | 0 | 0 | |||||||||||||||||||
Included in other comprehensive income | 0 | 0 | 0 | 0 | |||||||||||||||||||
Interest rate lock commitments: | |||||||||||||||||||||||
Net activity | (1,452) | 6,909 | (2,857) | 6,857 | |||||||||||||||||||
Transfers from Level 3 | 0 | 0 | 0 | 0 | |||||||||||||||||||
Transfers into Level 3 | 0 | 0 | 0 | 0 | |||||||||||||||||||
Ending balance | $ | 3,608 | 7,416 | 3,608 | 7,416 | ||||||||||||||||||
For the quarter ended March 31, | |||||||||||||||||||||||
2022 | 2021 | ||||||||||||||||||||||
Beginning balance January 1, | $ | 1,684 | 6,465 | ||||||||||||||||||||
Interest rate lock commitments: | |||||||||||||||||||||||
Net activity | (4) | (1,405) | |||||||||||||||||||||
Ending balance | $ | 1,680 | 5,060 | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total assets at fair value | Level 1 | Level 2 | Level 3 | Total assets at fair value | |||||||||||||||||||||||||||||||||||||||
Loans individually assessed | Loans individually assessed | $ | 0 | 0 | 91,288 | 91,288 | Loans individually assessed | $ | — | — | 7,178 | 7,178 | ||||||||||||||||||||||||||||||||||
Mortgage servicing rights | Mortgage servicing rights | 0 | 0 | 2,211 | 2,211 | Mortgage servicing rights | — | — | 22 | 22 | ||||||||||||||||||||||||||||||||||||
Real estate owned, net | Real estate owned, net | 0 | 0 | 1,353 | 1,353 | Real estate owned, net | — | — | 929 | 929 | ||||||||||||||||||||||||||||||||||||
Total assets | Total assets | $ | 0 | 0 | 94,852 | 94,852 | Total assets | $ | — | — | 8,129 | 8,129 |
Level 1 | Level 2 | Level 3 | Total assets at fair value | Level 1 | Level 2 | Level 3 | Total assets at fair value | |||||||||||||||||||||||||||||||||||||||
Loans individually assessed | Loans individually assessed | $ | 0 | 0 | 95,303 | 95,303 | Loans individually assessed | $ | — | — | 46,968 | 46,968 | ||||||||||||||||||||||||||||||||||
Mortgage servicing rights | Mortgage servicing rights | — | — | 380 | 380 | |||||||||||||||||||||||||||||||||||||||||
Real estate owned, net | Real estate owned, net | 0 | 0 | 2,232 | 2,232 | Real estate owned, net | — | — | 873 | 873 | ||||||||||||||||||||||||||||||||||||
Total assets | Total assets | $ | 0 | 0 | 97,535 | 97,535 | Total assets | $ | — | — | 48,221 | 48,221 |
Fair value | Valuation techniques | Significant unobservable inputs | Range (weighted average) | Fair value | Valuation techniques | Significant unobservable inputs | Range (weighted average) | ||||||||||||||||||||||||||||||||||||||||||
Loans individually assessed | Loans individually assessed | $ | 91,288 | Appraisal value (1) | Estimated cost to sell | 10.0% | Loans individually assessed | $ | 7,178 | Appraisal value (1) | Estimated cost to sell | 10.0% | |||||||||||||||||||||||||||||||||||||
Discounted cash flow | Discount rate | 10.92% to 15.4% (12.27%) | Discounted cash flow | Discount rate | 5.46% to 13.26% (7.25%) | ||||||||||||||||||||||||||||||||||||||||||||
Mortgage servicing rights | Mortgage servicing rights | 2,211 | Discounted cash | Annual service cost | $84 | Mortgage servicing rights | 22 | Discounted cash flow | Annual service cost | $86 | |||||||||||||||||||||||||||||||||||||||
flow | Prepayment rates | 11.9% to 28.1% (22.3%) | Prepayment rate | 7.1% to 18.3% (9.8%) | |||||||||||||||||||||||||||||||||||||||||||||
Expected life (months) | 41.4 to 70.7 (57.3) | Expected life (months) | 47.8 to 102.3 (77.1) | ||||||||||||||||||||||||||||||||||||||||||||||
Option adjusted spread | 750 basis points | Option adjusted spread | 650 basis points | ||||||||||||||||||||||||||||||||||||||||||||||
Forward yield curve | 0.09% to 1.56% | Forward yield curve | 0.23% to 1.92% | ||||||||||||||||||||||||||||||||||||||||||||||
Real estate owned, net | Real estate owned, net | $ | 1,353 | Appraisal value (1) | Estimated cost to sell | 10.0% | Real estate owned, net | 929 | Appraisal value (1) | Estimated cost to sell | 10.0% | ||||||||||||||||||||||||||||||||||||||
Loans held for sale | Loans held for sale | 19,272 | Quoted prices for similar loans in active markets adjusted by an expected pull-through rate | Estimated pull-through rate | 100.0% |
Asset derivatives | Liability derivatives | ||||||||||||||||||||||
Notional amount | Fair value | Notional amount | Fair value | ||||||||||||||||||||
At June 30, 2021 | |||||||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||
Interest rate swap agreements | $ | 602,029 | 38,054 | 602,029 | 38,349 | ||||||||||||||||||
Foreign exchange swap agreements | 6,265 | 94 | 3,088 | 4 | |||||||||||||||||||
Interest rate lock commitments | 127,328 | 3,608 | 0 | 0 | |||||||||||||||||||
Forward commitments | 12,166 | 393 | 0 | 0 | |||||||||||||||||||
Risk participation agreements | 0 | 0 | 82,157 | 84 | |||||||||||||||||||
Total derivatives | $ | 747,788 | 42,149 | 687,274 | 38,437 | ||||||||||||||||||
At December 31, 2020 | |||||||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||
Interest rate swap agreements | $ | 599,300 | 53,863 | 599,300 | 54,579 | ||||||||||||||||||
Interest rate lock commitments | 171,357 | 6,465 | 0 | 0 | |||||||||||||||||||
Forward commitments | 25,474 | 1,105 | 0 | 0 | |||||||||||||||||||
Risk participation agreements | 0 | 0 | 77,532 | 86 | |||||||||||||||||||
Total derivatives | $ | 796,131 | 61,433 | 676,832 | 54,665 |
Asset derivatives | Liability derivatives | ||||||||||||||||||||||
Notional amount | Fair value | Notional amount | Fair value | ||||||||||||||||||||
At March 31, 2022 | |||||||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||
Interest rate swap agreements | $ | 625,751 | 23,338 | 625,751 | 23,363 | ||||||||||||||||||
Foreign exchange swap agreements | — | — | 290 | 6 | |||||||||||||||||||
Interest rate lock commitments | 72,147 | 1,680 | — | — | |||||||||||||||||||
Forward commitments | — | — | 8,078 | 43 | |||||||||||||||||||
Risk participation agreements | — | — | 94,626 | 31 | |||||||||||||||||||
Total Derivatives | $ | 697,898 | 25,018 | 728,745 | 23,443 | ||||||||||||||||||
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, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
Hedging derivatives: | |||||||||||||||||||||||
Decrease in interest expense | $ | 0 | (90) | 0 | (102) | ||||||||||||||||||
Non-hedging swap derivatives: | |||||||||||||||||||||||
Increase/(decrease) in other income | (26) | (345) | 498 | (522) | |||||||||||||||||||
Increase in mortgage banking income | 1,510 | 8,247 | 3,570 | 8,248 |
For the quarter ended March 31, | |||||||||||||||||||||||
2022 | 2021 | ||||||||||||||||||||||
Non-hedging swap derivatives: | |||||||||||||||||||||||
Increase in other income | $ | 61 | 524 | ||||||||||||||||||||
Increase in mortgage banking income | 418 | 2,060 |
For the quarter ended June 30, 2021 | |||||||||||||||||||||||
Unrealized gains/(losses) on securities available-for-sale | Change in fair value of interest rate swaps | Change in defined benefit pension plans | Total | ||||||||||||||||||||
Balance as of March 31, 2021 | $ | (653) | 0 | (50,059) | (50,712) | ||||||||||||||||||
Other comprehensive income before reclassification adjustments (1) | 4,322 | 0 | 0 | 4,322 | |||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (2) (3) | (136) | 0 | 334 | 198 | |||||||||||||||||||
Net other comprehensive income | 4,186 | 0 | 334 | 4,520 | |||||||||||||||||||
Balance as of June 30, 2021 | $ | 3,533 | 0 | (49,725) | (46,192) |
For the quarter ended March 31, 2022 | |||||||||||||||||||||||
Unrealized 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, 2021 | $ | (12,317) | — | (25,312) | (37,629) | ||||||||||||||||||
Other comprehensive loss before reclassification adjustments (1) | (64,783) | — | — | (64,783) | |||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (2) (3) | (1) | — | (131) | (132) | |||||||||||||||||||
Net other comprehensive loss | (64,784) | — | (131) | (64,915) | |||||||||||||||||||
Balance as of March 31, 2022 | $ | (77,101) | — | (25,443) | (102,544) |
For the quarter ended June 30, 2020 | |||||||||||||||||||||||
Unrealized gains/(losses) on securities available-for-sale | Change in fair value of interest rate swaps | Change in defined benefit pension plans | Total | ||||||||||||||||||||
Balance as of March 31, 2020 | $ | 11,341 | (409) | (39,839) | (28,907) | ||||||||||||||||||
Other comprehensive income/(loss) before reclassification adjustments (4) (5) | 4,790 | (537) | 0 | 4,253 | |||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (6) (7) | (35) | 0 | 249 | 214 | |||||||||||||||||||
Net other comprehensive income/(loss) | 4,755 | (537) | 249 | 4,467 | |||||||||||||||||||
Balance as of June 30, 2020 | $ | 16,096 | (946) | (39,590) | (24,440) |
For the quarter ended March 31, 2021 | |||||||||||||||||||||||
Unrealized gains/(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, 2020 | $ | 16,843 | — | (50,392) | (33,549) | ||||||||||||||||||
Other comprehensive loss before reclassification adjustments (4) | (17,421) | — | — | (17,421) | |||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (5) (6) | (75) | — | 333 | 258 | |||||||||||||||||||
Net other comprehensive (loss)/income | (17,496) | — | 333 | (17,163) | |||||||||||||||||||
Balance as of March 31, 2021 | $ | (653) | — | (50,059) | (50,712) |
For the six months ended June 30, 2021 | |||||||||||||||||||||||
Unrealized gains/(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, 2020 | $ | 16,843 | 0 | (50,392) | (33,549) | ||||||||||||||||||
Other comprehensive loss before reclassification adjustments (1) | (13,099) | 0 | 0 | (13,099) | |||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (2) (3) | (211) | 0 | 667 | 456 | |||||||||||||||||||
Net other comprehensive income/loss | (13,310) | 0 | 667 | (12,643) | |||||||||||||||||||
Balance as of June 30, 2021 | $ | 3,533 | 0 | (49,725) | (46,192) |
For the six months ended June 30, 2020 | |||||||||||||||||||||||
Unrealized gains 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, 2019 | $ | 3,147 | 0 | (40,088) | (36,941) | ||||||||||||||||||
Other comprehensive income/(loss) before reclassification adjustments (4) (5) | 12,947 | (946) | 0 | 12,001 | |||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (6) (7) | 2 | 0 | 498 | 500 | |||||||||||||||||||
Net other comprehensive income/(loss) | 12,949 | (946) | 498 | 12,501 | |||||||||||||||||||
Balance as of June 30, 2020 | $ | 16,096 | (946) | (39,590) | (24,440) |
At June 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum capital | Well capitalized | At March 31, 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) | Total capital (to risk weighted assets) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Northwest Bancshares, Inc. | Northwest Bancshares, Inc. | $ | 1,718,814 | 17.087 | % | $ | 1,056,219 | 10.500 | % | $ | 1,005,923 | 10.000 | % | Northwest Bancshares, Inc. | $ | 1,687,337 | 16.891 | % | $ | 1,048,912 | 10.500 | % | $ | 998,964 | 10.000 | % | ||||||||||||||||||||||||||||||||||||||||||||
Northwest Bank | Northwest Bank | 1,491,293 | 14.839 | % | 1,055,241 | 10.500 | % | 1,004,991 | 10.000 | % | Northwest Bank | 1,420,908 | 14.238 | % | 1,047,877 | 10.500 | % | 997,978 | 10.000 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Tier 1 capital (to risk weighted assets) | Tier 1 capital (to risk weighted assets) | Tier 1 capital (to risk weighted assets) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Northwest Bancshares, Inc. | Northwest Bancshares, Inc. | 1,474,489 | 14.658 | % | 855,035 | 8.500 | % | 804,739 | 8.000 | % | Northwest Bancshares, Inc. | 1,480,958 | 14.825 | % | 849,119 | 8.500 | % | 799,171 | 8.000 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Northwest Bank | Northwest Bank | 1,395,558 | 13.886 | % | 854,243 | 8.500 | % | 803,993 | 8.000 | % | Northwest Bank | 1,338,199 | 13.409 | % | 848,281 | 8.500 | % | 798,382 | 8.000 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
CET1 capital (to risk weighted assets) | CET1 capital (to risk weighted assets) | CET1 capital (to risk weighted assets) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Northwest Bancshares, Inc. | Northwest Bancshares, Inc. | 1,349,554 | 13.416 | % | 704,146 | 7.000 | % | 653,850 | 6.500 | % | Northwest Bancshares, Inc. | 1,355,828 | 13.572 | % | 699,275 | 7.000 | % | 649,327 | 6.500 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Northwest Bank | Northwest Bank | 1,395,558 | 13.886 | % | 703,494 | 7.000 | % | 653,244 | 6.500 | % | Northwest Bank | 1,338,199 | 13.409 | % | 698,585 | 7.000 | % | 648,686 | 6.500 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Tier 1 capital (leverage) (to average assets) | Tier 1 capital (leverage) (to average assets) | Tier 1 capital (leverage) (to average assets) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Northwest Bancshares, Inc. | Northwest Bancshares, Inc. | 1,474,489 | 10.265 | % | 574,557 | 4.000 | % | 718,196 | 5.000 | % | Northwest Bancshares, Inc. | 1,480,958 | 10.431 | % | 567,907 | 4.000 | % | 709,884 | 5.000 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Northwest Bank | Northwest Bank | 1,395,558 | 9.855 | % | 566,453 | 4.000 | % | 708,066 | 5.000 | % | Northwest Bank | 1,338,199 | 9.428 | % | 567,749 | 4.000 | % | 709,686 | 5.000 | % |
At December 31, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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) | Total capital (to risk weighted assets) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Northwest Bancshares, Inc. | Northwest Bancshares, Inc. | $ | 1,654,198 | 16.642 | % | $ | 1,043,693 | 10.500 | % | $ | 993,993 | 10.000 | % | Northwest Bancshares, Inc. | $ | 1,682,487 | 17.056 | % | $ | 1,035,786 | 10.500 | % | $ | 986,463 | 10.000 | % | ||||||||||||||||||||||||||||||||||||||||||||
Northwest Bank | Northwest Bank | 1,478,310 | 14.887 | % | 1,042,655 | 10.500 | % | 993,004 | 10.000 | % | 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) | Tier I capital (to risk weighted assets) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Northwest Bancshares, Inc. | Northwest Bancshares, Inc. | 1,406,321 | 14.148 | % | 844,894 | 8.500 | % | 795,195 | 8.000 | % | Northwest Bancshares, Inc. | 1,475,190 | 14.954 | % | 838,494 | 8.500 | % | 789,170 | 8.000 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Northwest Bank | Northwest Bank | 1,354,028 | 13.636 | % | 844,054 | 8.500 | % | 794,403 | 8.000 | % | 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) | CET1 capital (to risk weighted assets) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Northwest Bancshares, Inc. | Northwest Bancshares, Inc. | 1,281,516 | 12.893 | % | 695,795 | 7.000 | % | 646,096 | 6.500 | % | Northwest Bancshares, Inc. | 1,350,125 | 13.687 | % | 690,524 | 7.000 | % | 641,201 | 6.500 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Northwest Bank | Northwest Bank | 1,354,028 | 13.636 | % | 695,103 | 7.000 | % | 645,453 | 6.500 | % | 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) | Tier I capital (leverage) (to average assets) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Northwest Bancshares, Inc. | Northwest Bancshares, Inc. | 1,406,321 | 10.145 | % | 554,501 | 4.000 | % | 693,126 | 5.000 | % | Northwest Bancshares, Inc. | 1,475,190 | 10.349 | % | 570,160 | 4.000 | % | 712,699 | 5.000 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Northwest Bank | Northwest Bank | 1,354,028 | 9.903 | % | 546,905 | 4.000 | % | 683,631 | 5.000 | % | Northwest Bank | 1,467,362 | 10.296 | % | 570,047 | 4.000 | % | 712,558 | 5.000 | % |
June 30, 2021 | December 31, 2020 | March 31, 2022 | December 31, 2021 | |||||||||||||||||||
(in thousands) | (in thousands) | |||||||||||||||||||||
Nonaccrual loans 90 days or more past due: | ||||||||||||||||||||||
Loans 90 days or more past due: | Loans 90 days or more past due: | |||||||||||||||||||||
Residential mortgage loans | Residential mortgage loans | $ | 10,007 | 14,489 | Residential mortgage loans | $ | 3,976 | 7,641 | ||||||||||||||
Home equity loans | Home equity loans | 6,256 | 8,441 | Home equity loans | 2,968 | 4,262 | ||||||||||||||||
Consumer loans | 2,341 | 5,473 | ||||||||||||||||||||
Vehicle loans | Vehicle loans | 1,432 | 1,635 | |||||||||||||||||||
Other consumer loans | Other consumer loans | 770 | 765 | |||||||||||||||||||
Commercial real estate loans | Commercial real estate loans | 23,564 | 25,287 | Commercial real estate loans | 21,264 | 23,489 | ||||||||||||||||
Commercial real estate - owner occupied | Commercial real estate - owner occupied | 135 | 574 | |||||||||||||||||||
Commercial loans | Commercial loans | 4,126 | 7,325 | Commercial loans | 795 | 1,105 | ||||||||||||||||
Total loans 90 days or more past due | Total loans 90 days or more past due | $ | 46,294 | 61,015 | Total loans 90 days or more past due | $ | 31,340 | 39,471 | ||||||||||||||
Total REO, net | $ | 1,353 | 2,232 | |||||||||||||||||||
Total real estate owned (REO) | Total real estate owned (REO) | $ | 929 | 873 | ||||||||||||||||||
Total loans 90 days or more past due and REO | Total loans 90 days or more past due and REO | 47,647 | 63,247 | Total loans 90 days or more past due and REO | 32,269 | 40,344 | ||||||||||||||||
Total loans 90 days or more past due to net loans receivable | Total loans 90 days or more past due to net loans receivable | 0.45 | % | 0.58 | % | Total loans 90 days or more past due to net loans receivable | 0.31 | % | 0.40 | % | ||||||||||||
Total loans 90 days or more past due and REO to total assets | Total loans 90 days or more past due and REO to total assets | 0.33 | % | 0.46 | % | Total loans 90 days or more past due and REO to total assets | 0.22 | % | 0.28 | % | ||||||||||||
Nonperforming assets: | Nonperforming assets: | Nonperforming assets: | ||||||||||||||||||||
Nonaccrual loans - loans 90 days or more past due | Nonaccrual loans - loans 90 days or more past due | 46,294 | 61,015 | Nonaccrual loans - loans 90 days or more past due | $ | 30,920 | 39,140 | |||||||||||||||
Nonaccrual loans - loans less than 90 days past due | Nonaccrual loans - loans less than 90 days past due | 160,467 | 41,817 | Nonaccrual loans - loans less than 90 days past due | 93,241 | 119,331 | ||||||||||||||||
Loans 90 days or more past due and still accruing | 302 | 585 | ||||||||||||||||||||
Loans 90 days or more past due still accruing | Loans 90 days or more past due still accruing | 420 | 331 | |||||||||||||||||||
Total nonperforming loans | Total nonperforming loans | 207,063 | 103,417 | Total nonperforming loans | 124,581 | 158,802 | ||||||||||||||||
Total nonperforming assets | Total nonperforming assets | $ | 208,416 | 105,649 | Total nonperforming assets | $ | 125,510 | 159,675 | ||||||||||||||
Total nonaccrual loans to total loans | Total nonaccrual loans to total loans | 1.22 | % | 1.59 | % | |||||||||||||||||
Nonaccrual TDR loans (1) | Nonaccrual TDR loans (1) | $ | 8,951 | 10,704 | Nonaccrual TDR loans (1) | $ | 16,015 | 17,216 | ||||||||||||||
Accruing TDR loans | Accruing TDR loans | 18,480 | 21,431 | Accruing TDR loans | 12,686 | 13,072 | ||||||||||||||||
Total TDR loans | Total TDR loans | $ | 27,431 | 32,135 | Total TDR loans | $ | 28,701 | 30,288 |
Quarter ended June 30, | Quarter ended March 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2022 | 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Average balance | Interest | Avg. yield/ cost (h) | Average balance | Interest | Avg. yield/ cost (h) | Average balance | Interest | Avg. yield/ cost (i) | Average balance | Interest | Avg. yield/ cost (i) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets | Assets | Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest-earning assets: | Interest-earning assets: | Interest-earning assets: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | Residential mortgage loans | $ | 2,935,034 | 25,609 | 3.49 | % | $ | 3,092,392 | 29,019 | 3.75 | % | Residential mortgage loans | $ | 2,980,788 | 25,542 | 3.43 | % | $ | 3,007,439 | 26,366 | 3.51 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
Home equity loans | Home equity loans | 1,380,794 | 12,232 | 3.55 | % | 1,415,091 | 13,806 | 3.92 | % | Home equity loans | 1,293,986 | 11,472 | 3.60 | % | 1,432,009 | 12,815 | 3.63 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer loans | Consumer loans | 1,589,739 | 14,555 | 3.67 | % | 1,375,130 | 14,993 | 4.39 | % | Consumer loans | 1,799,037 | 14,907 | 3.36 | % | 1,463,284 | 14,566 | 4.04 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | Commercial real estate loans | 3,257,810 | 33,349 | 4.05 | % | 3,156,749 | 34,595 | 4.34 | % | Commercial real estate loans | 3,000,204 | 29,757 | 3.97 | % | 3,313,892 | 38,471 | 4.64 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | Commercial loans | 1,133,969 | 9,978 | 3.48 | % | 1,161,228 | 11,269 | 3.84 | % | Commercial loans | 824,770 | 6,897 | 3.34 | % | 1,189,812 | 10,566 | 3.55 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans receivable (a) (b) (d) (includes FTE adjustments of $468 and $669, respectively) | 10,297,346 | 95,723 | 3.73 | % | 10,200,590 | 103,682 | 4.09 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans receivable (a) (b) (d) (includes FTE adjustments of $401 and $600, respectively) | Loans receivable (a) (b) (d) (includes FTE adjustments of $401 and $600, respectively) | 9,898,785 | 88,575 | 3.63 | % | 10,406,436 | 102,784 | 4.01 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mortgage-backed securities (c) | Mortgage-backed securities (c) | 1,756,227 | 5,680 | 1.29 | % | 714,657 | 4,038 | 2.26 | % | Mortgage-backed securities (c) | 1,945,173 | 6,360 | 1.31 | % | 1,324,558 | 4,200 | 1.27 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment securities (c) (d) (includes FTE adjustments of $179 and $241, respectively) | 364,414 | 1,466 | 1.61 | % | 170,309 | 1,244 | 2.92 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment securities (c) (d) (includes FTE adjustments of $189 and $254, respectively) | Investment securities (c) (d) (includes FTE adjustments of $189 and $254, respectively) | 373,694 | 1,540 | 1.65 | % | 331,358 | 1,381 | 1.67 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FHLB stock, at cost | FHLB stock, at cost | 23,107 | 138 | 2.40 | % | 22,192 | 309 | 5.60 | % | FHLB stock, at cost | 13,870 | 81 | 2.38 | % | 21,811 | 116 | 2.17 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other interest-earning deposits | Other interest-earning deposits | 810,741 | 192 | 0.09 | % | 623,870 | 185 | 0.12 | % | Other interest-earning deposits | 1,218,960 | 467 | 0.15 | % | 801,119 | 183 | 0.09 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total interest-earning assets (includes FTE adjustments of $647 and $910, respectively) | 13,251,835 | 103,199 | 3.12 | % | 11,731,618 | 109,458 | 3.75 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total interest-earning assets (includes FTE adjustments of $590 and $854, respectively) | Total interest-earning assets (includes FTE adjustments of $590 and $854, respectively) | 13,450,482 | 97,023 | 2.93 | % | 12,885,282 | 108,664 | 3.42 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Noninterest-earning assets (e) | Noninterest-earning assets (e) | 1,104,924 | 1,858,513 | Noninterest-earning assets (e) | 973,092 | 1,102,477 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total assets | Total assets | $ | 14,356,759 | $ | 13,590,131 | Total assets | $ | 14,423,574 | $ | 13,987,759 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Liabilities and shareholders’ equity | Liabilities and shareholders’ equity | Liabilities and shareholders’ equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest-bearing liabilities: | Interest-bearing liabilities: | Interest-bearing liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Savings deposits | Savings deposits | $ | 2,255,578 | 590 | 0.10 | % | $ | 1,884,202 | 648 | 0.14 | % | Savings deposits | $ | 2,334,494 | 592 | 0.10 | % | $ | 2,118,030 | 625 | 0.12 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
Interest-bearing demand deposits | Interest-bearing demand deposits | 2,840,949 | 407 | 0.06 | % | 2,428,060 | 812 | 0.13 | % | Interest-bearing demand deposits | 2,875,430 | 321 | 0.05 | % | 2,783,429 | 429 | 0.06 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Money market deposit accounts | Money market deposit accounts | 2,537,629 | 621 | 0.10 | % | 2,204,810 | 1,600 | 0.29 | % | Money market deposit accounts | 2,668,105 | 653 | 0.10 | % | 2,497,495 | 657 | 0.11 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Time deposits | Time deposits | 1,493,947 | 3,155 | 0.85 | % | 1,761,260 | 6,276 | 1.43 | % | Time deposits | 1,292,608 | 2,185 | 0.69 | % | 1,583,525 | 3,803 | 0.97 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Borrowed funds (f) | Borrowed funds (f) | 131,240 | 150 | 0.46 | % | 371,700 | 296 | 0.32 | % | Borrowed funds (f) | 135,289 | 158 | 0.47 | % | 143,806 | 154 | 0.43 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated debentures | Subordinated debentures | 123,443 | 1,264 | 4.11 | % | — | — | — | % | Subordinated debentures | 123,608 | 1,250 | 4.05 | % | 123,357 | 1,258 | 4.14 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Junior subordinated debentures | Junior subordinated debentures | 128,882 | 636 | 1.95 | % | 127,472 | 837 | 2.60 | % | Junior subordinated debentures | 129,077 | 651 | 2.02 | % | 128,817 | 642 | 1.99 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total interest-bearing liabilities | Total interest-bearing liabilities | 9,511,668 | 6,823 | 0.29 | % | 8,777,504 | 10,469 | 0.48 | % | Total interest-bearing liabilities | 9,558,611 | 5,810 | 0.25 | % | 9,378,459 | 7,568 | 0.33 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Noninterest-bearing demand deposits | Noninterest-bearing demand deposits | 3,036,202 | 2,401,368 | Noninterest-bearing demand deposits | 3,060,698 | 2,805,206 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Noninterest-bearing liabilities | Noninterest-bearing liabilities | 247,930 | 882,391 | Noninterest-bearing liabilities | 203,537 | 265,667 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total liabilities | Total liabilities | 12,795,800 | 12,061,263 | Total liabilities | 12,822,846 | 12,449,332 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shareholders’ equity | Shareholders’ equity | 1,560,959 | 1,528,868 | Shareholders’ equity | 1,600,728 | 1,538,427 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total liabilities and shareholders’ equity | Total liabilities and shareholders’ equity | $ | 14,356,759 | $ | 13,590,131 | Total liabilities and shareholders’ equity | $ | 14,423,574 | $ | 13,987,759 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net interest income/Interest rate spread | Net interest income/Interest rate spread | 96,376 | 2.84 | % | 98,989 | 3.27 | % | Net interest income/Interest rate spread | 91,213 | 2.68 | % | 101,096 | 3.09 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net interest-earning assets/Net interest margin | Net interest-earning assets/Net interest margin | $ | 3,740,167 | 2.91 | % | $ | 2,954,114 | 3.38 | % | Net interest-earning assets/Net interest margin | $ | 3,891,871 | 2.75 | % | $ | 3,506,823 | 3.18 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Ratio of interest-earning assets to interest-bearing liabilities | 1.39X | 1.34X | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ratio of interest-earning assets to interest- bearing liabilities | Ratio of interest-earning assets to interest- bearing liabilities | 1.41X | 1.37X |
For the quarter ended June 30, 2021 vs. 2020 | For the quarter ended March 31, 2022 vs. 2021 | |||||||||||||||||||||||||||||||||
Increase/(decrease) due to | Total increase/(decrease) | Increase/(decrease) due to | Total increase/(decrease) | |||||||||||||||||||||||||||||||
Rate | Volume | Rate | Volume | |||||||||||||||||||||||||||||||
Interest-earning assets: | Interest-earning assets: | Interest-earning assets: | ||||||||||||||||||||||||||||||||
Loans receivable | Loans receivable | $ | (9,142) | 1,183 | (7,959) | Loans receivable | $ | (9,666) | (4,543) | (14,209) | ||||||||||||||||||||||||
Mortgage-backed securities | Mortgage-backed securities | (1,727) | 3,369 | 1,642 | Mortgage-backed securities | 130 | 2,030 | 2,160 | ||||||||||||||||||||||||||
Investment securities | Investment securities | (559) | 781 | 222 | Investment securities | (16) | 175 | 159 | ||||||||||||||||||||||||||
FHLB stock, at cost | FHLB stock, at cost | (178) | 7 | (171) | FHLB stock, at cost | 11 | (46) | (35) | ||||||||||||||||||||||||||
Other interest-earning deposits | Other interest-earning deposits | (37) | 44 | 7 | Other interest-earning deposits | 124 | 160 | 284 | ||||||||||||||||||||||||||
Total interest-earning assets | Total interest-earning assets | (11,643) | 5,384 | (6,259) | Total interest-earning assets | (9,417) | (2,224) | (11,641) | ||||||||||||||||||||||||||
Interest-bearing liabilities: | Interest-bearing liabilities: | Interest-bearing liabilities: | ||||||||||||||||||||||||||||||||
Savings deposits | Savings deposits | (157) | 99 | (58) | Savings deposits | (88) | 55 | (33) | ||||||||||||||||||||||||||
Interest-bearing demand deposits | Interest-bearing demand deposits | (466) | 61 | (405) | Interest-bearing demand deposits | (118) | 10 | (108) | ||||||||||||||||||||||||||
Money market deposit accounts | Money market deposit accounts | (1,065) | 86 | (979) | Money market deposit accounts | (46) | 42 | (4) | ||||||||||||||||||||||||||
Time deposits | Time deposits | (2,572) | (549) | (3,121) | Time deposits | (1,126) | (492) | (1,618) | ||||||||||||||||||||||||||
Borrowed funds | Borrowed funds | 128 | (274) | (146) | Borrowed funds | 14 | (10) | 4 | ||||||||||||||||||||||||||
Subordinated debt | Subordinated debt | — | 1,264 | 1,264 | Subordinated debt | (28) | 20 | (8) | ||||||||||||||||||||||||||
Junior subordinated debentures | Junior subordinated debentures | (208) | 7 | (201) | Junior subordinated debentures | 8 | 1 | 9 | ||||||||||||||||||||||||||
Total interest-bearing liabilities | Total interest-bearing liabilities | (4,340) | 694 | (3,646) | Total interest-bearing liabilities | (1,384) | (374) | (1,758) | ||||||||||||||||||||||||||
Net change in net interest income | Net change in net interest income | $ | (7,303) | 4,690 | (2,613) | Net change in net interest income | $ | (8,033) | (1,850) | (9,883) |
Six months ended June 30, | |||||||||||||||||||||||||||||||||||
2021 | 2020 | ||||||||||||||||||||||||||||||||||
Average balance | Interest | Avg. yield/ cost (h) | Average balance | Interest | Avg. yield/ cost (h) | ||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||||
Interest-earning assets: | |||||||||||||||||||||||||||||||||||
Residential mortgage loans | $ | 2,971,037 | 51,975 | 3.50 | % | $ | 2,969,096 | 57,081 | 3.85 | % | |||||||||||||||||||||||||
Home equity loans | 1,406,260 | 25,046 | 3.57 | % | 1,380,076 | 28,607 | 4.17 | % | |||||||||||||||||||||||||||
Consumer loans | 1,526,861 | 29,121 | 3.82 | % | 1,249,233 | 27,153 | 4.37 | % | |||||||||||||||||||||||||||
Commercial real estate loans | 3,285,696 | 71,820 | 4.32 | % | 2,952,084 | 66,032 | 4.42 | % | |||||||||||||||||||||||||||
Commercial loans | 1,161,736 | 20,543 | 3.50 | % | 936,924 | 20,124 | 4.25 | % | |||||||||||||||||||||||||||
Loans receivable (a) (b) (d) (includes FTE adjustments of $932 and $1,011, respectively) | 10,351,590 | 198,505 | 3.85 | % | 9,487,413 | 198,997 | 4.22 | % | |||||||||||||||||||||||||||
Mortgage-backed securities (c) | 1,541,585 | 9,880 | 1.28 | % | 691,564 | 8,213 | 2.38 | % | |||||||||||||||||||||||||||
Investment securities (c) (d) (includes FTE adjustments of $351 and $289, respectively) | 347,977 | 2,847 | 1.64 | % | 157,231 | 2,125 | 2.70 | % | |||||||||||||||||||||||||||
FHLB stock, at cost | 22,462 | 254 | 2.27 | % | 19,062 | 571 | 6.02 | % | |||||||||||||||||||||||||||
Other interest-earning deposits | 805,930 | 375 | 0.09 | % | 329,284 | 320 | 0.19 | % | |||||||||||||||||||||||||||
Total interest-earning assets (includes FTE adjustments of $1,283 and $1,300, respectively) | 13,069,544 | 211,861 | 3.25 | % | 10,684,554 | 210,226 | 3.96 | % | |||||||||||||||||||||||||||
Noninterest-earning assets (e) | 1,103,734 | 1,409,247 | |||||||||||||||||||||||||||||||||
Total assets | $ | 14,173,278 | $ | 12,093,801 | |||||||||||||||||||||||||||||||
Liabilities and shareholders’ equity | |||||||||||||||||||||||||||||||||||
Interest-bearing liabilities: | |||||||||||||||||||||||||||||||||||
Savings deposits | $ | 2,187,184 | 1,215 | 0.11 | % | $ | 1,747,656 | 1,375 | 0.16 | % | |||||||||||||||||||||||||
Interest-bearing demand deposits | 2,812,348 | 836 | 0.06 | % | 2,171,970 | 2,119 | 0.20 | % | |||||||||||||||||||||||||||
Money market deposit accounts | 2,517,673 | 1,278 | 0.10 | % | 2,061,226 | 4,688 | 0.46 | % | |||||||||||||||||||||||||||
Time deposits | 1,538,489 | 6,959 | 0.91 | % | 1,645,077 | 12,557 | 1.54 | % | |||||||||||||||||||||||||||
Borrowed funds (f) | 137,488 | 303 | 0.44 | % | 305,910 | 1,005 | 0.66 | % | |||||||||||||||||||||||||||
Subordinated debentures | 123,400 | 2,522 | 4.10 | % | — | — | — | % | |||||||||||||||||||||||||||
Junior subordinated debentures | 128,850 | 1,278 | 1.96 | % | 124,638 | 1,875 | 2.98 | % | |||||||||||||||||||||||||||
Total interest-bearing liabilities | 9,445,432 | 14,391 | 0.31 | % | 8,056,477 | 23,619 | 0.59 | % | |||||||||||||||||||||||||||
Noninterest-bearing demand deposits (g) | 2,921,343 | 2,022,177 | |||||||||||||||||||||||||||||||||
Noninterest-bearing liabilities | 256,748 | 575,658 | |||||||||||||||||||||||||||||||||
Total liabilities | 12,623,523 | 10,654,312 | |||||||||||||||||||||||||||||||||
Shareholders’ equity | 1,549,755 | 1,439,489 | |||||||||||||||||||||||||||||||||
Total liabilities and shareholders’ equity | $ | 14,173,278 | $ | 12,093,801 | |||||||||||||||||||||||||||||||
Net interest income/Interest rate spread | 197,470 | 2.94 | % | 186,607 | 3.37 | % | |||||||||||||||||||||||||||||
Net interest-earning assets/Net interest margin | $ | 3,624,112 | 3.02 | % | $ | 2,628,077 | 3.49 | % | |||||||||||||||||||||||||||
Ratio of interest-earning assets to interest-bearing liabilities | 1.38X | 1.33X |
For the six months ended June 30, 2021 vs. 2020 | |||||||||||||||||
Increase/(decrease) due to | Total increase/(decrease) | ||||||||||||||||
Rate | Volume | ||||||||||||||||
Interest-earning assets: | |||||||||||||||||
Loans receivable | $ | (17,561) | 17,069 | (492) | |||||||||||||
Mortgage-backed securities | (3,781) | 5,448 | 1,667 | ||||||||||||||
Investment securities | (839) | 1,561 | 722 | ||||||||||||||
FHLB stock, at cost | (358) | 41 | (317) | ||||||||||||||
Other interest-earning deposits | (167) | 222 | 55 | ||||||||||||||
Total interest-earning assets | (22,706) | 24,341 | 1,635 | ||||||||||||||
Interest-bearing liabilities: | |||||||||||||||||
Savings deposits | (408) | 248 | (160) | ||||||||||||||
Interest-bearing demand deposits | (1,479) | 196 | (1,283) | ||||||||||||||
Money market deposit accounts | (3,653) | 243 | (3,410) | ||||||||||||||
Time deposits | (5,151) | (447) | (5,598) | ||||||||||||||
Borrowed funds | (333) | (369) | (702) | ||||||||||||||
Subordinated debt | — | 2,522 | 2,522 | ||||||||||||||
Junior subordinated debentures | (639) | 42 | (597) | ||||||||||||||
Total interest-bearing liabilities | (11,663) | 2,435 | (9,228) | ||||||||||||||
Net change in net interest income | $ | (11,043) | 21,906 | 10,863 |
Increase | Decrease | Increase | Decrease | |||||||||||||||||||||||||||||||||||||||||||||||||
Parallel shift in interest rates over the next 12 months | Parallel shift in interest rates over the next 12 months | 100 bps | 200 bps | 300 bps | 100 bps | 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 | Projected percentage increase/(decrease) in net interest income | 1.2 | % | 1.3 | % | 1.1 | % | (3.2 | %) | Projected percentage increase/(decrease) in net interest income | 1.1 | % | 1.7 | % | 2.2 | % | (4.2 | %) | ||||||||||||||||||||||||||||||||||
Projected percentage increase/(decrease) in net income | Projected percentage increase/(decrease) in net income | 3.5 | % | 4.0 | % | 3.6 | % | (9.0 | %) | Projected percentage increase/(decrease) in net income | 3.1 | % | 4.9 | % | 6.6 | % | (11.4 | %) | ||||||||||||||||||||||||||||||||||
Projected increase/(decrease) in return on average equity | Projected increase/(decrease) in return on average equity | 3.3 | % | 3.8 | % | 3.5 | % | (8.8 | %) | Projected increase/(decrease) in return on average equity | 3.0 | % | 4.7 | % | 6.3 | % | (11.1 | %) | ||||||||||||||||||||||||||||||||||
Projected increase/(decrease) in earnings per share | Projected increase/(decrease) in earnings per share | $ | 0.03 | $ | 0.03 | $ | 0.03 | $ | (0.08) | Projected increase/(decrease) in earnings per share | $ | 0.02 | $ | 0.04 | $ | 0.05 | $ | (0.10) | ||||||||||||||||||||||||||||||||||
Projected percentage decrease in market value of equity | (0.8 | %) | (6.5 | %) | (13.3 | %) | (10.5 | %) | ||||||||||||||||||||||||||||||||||||||||||||
Projected percentage increase/(decrease) in market value of equity | Projected percentage increase/(decrease) in market value of equity | (5.0 | %) | (10.2 | %) | (15.3 | %) | 1.6 | % |
Month | Number of shares purchased | Average price paid per share | Total number of shares purchased as part of a publicly announced repurchase plan | Maximum number of shares yet to be purchased under the plan | ||||||||||||||||||||||
April | — | $ | — | — | 3,720,710 | |||||||||||||||||||||
May | — | — | — | 3,720,710 | ||||||||||||||||||||||
June | 34,460 | 13.51 | 34,460 | 3,686,250 | ||||||||||||||||||||||
34,460 |
Northwest Bancshares, Inc. 2022 Equity Incentive Plan (incorporated by reference to the proxy statement for the Annual Meeting of Stockholders filed with the Securities and Exchange Commission on March 10, 2022 (file no. 001-34582)). | |||||
Northwest Bank Annual Performance Award Plan. | |||||
Certification of the Chief Executive Officer pursuant to Rule 13a-15 or 15d-15 of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | |||||
Certification of the Chief Financial Officer pursuant to Rule 13a-15 or 15d-15 of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. | |||||
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 tags are embedded within the inline XBRL document. | ||||
101.SCH | XBRL Taxonomy Extension Schema Document. | ||||
101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document. | ||||
101.DEF | XBRL Taxonomy Extension Definition Linkbase Document. | ||||
101.LAB | XBRL Taxonomy Extension Label Linkbase. | ||||
101.PRE | XBRL Taxonomy Extension Presentation Linkbase Document. | ||||
104 | The cover page of this Quarterly Report on Form 10-Q, formatted in inline XBRL. |
NORTHWEST BANCSHARES, INC. | |||||||||||
(Registrant) | |||||||||||
Date: | By: | /s/ Ronald J. Seiffert | |||||||||
Ronald J. Seiffert | |||||||||||
Chairman, President and Chief Executive Officer | |||||||||||
(Duly Authorized Officer) | |||||||||||
Date: | By: | /s/ Jeffrey | |||||||||
Jeffrey | |||||||||||
(Principal Accounting Officer) | |||||||||||