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 | June 30, 2022 | December 31, 2021 | |||||||||||||||||||
Assets | Assets | Assets | ||||||||||||||||||||
Cash and cash equivalents | Cash and cash equivalents | $ | 857,152 | 736,277 | Cash and cash equivalents | $ | 504,532 | 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 $1,516,743 and $1,565,002, respectively) | Marketable securities available-for-sale (amortized cost of $1,516,743 and $1,565,002, respectively) | 1,364,743 | 1,548,592 | |||||||||||||||||||
Marketable securities held-to-maturity (fair value of $835,565 and $751,513, respectively) | Marketable securities held-to-maturity (fair value of $835,565 and $751,513, respectively) | 923,180 | 768,154 | |||||||||||||||||||
Total cash and cash equivalents and marketable securities | Total cash and cash equivalents and marketable securities | 3,095,600 | 2,314,105 | Total cash and cash equivalents and marketable securities | 2,792,455 | 3,596,005 | ||||||||||||||||
Loans held-for-sale | Loans held-for-sale | 29,055 | 58,786 | Loans held-for-sale | 31,153 | 25,056 | ||||||||||||||||
Loans held for investment | Loans held for investment | 10,280,925 | 10,522,063 | Loans held for investment | 10,401,671 | 9,991,336 | ||||||||||||||||
Allowance for credit losses | Allowance for credit losses | (117,330) | (134,427) | Allowance for credit losses | (98,355) | (102,241) | ||||||||||||||||
Loans receivable, net | Loans receivable, net | 10,192,650 | 10,446,422 | Loans receivable, net | 10,334,469 | 9,914,151 | ||||||||||||||||
FHLB stock, at cost | FHLB stock, at cost | 23,287 | 21,748 | FHLB stock, at cost | 13,362 | 14,184 | ||||||||||||||||
Accrued interest receivable | Accrued interest receivable | 27,585 | 35,554 | Accrued interest receivable | 27,708 | 25,599 | ||||||||||||||||
Real estate owned, net | Real estate owned, net | 1,353 | 2,232 | Real estate owned, net | 1,205 | 873 | ||||||||||||||||
Premises and equipment, net | Premises and equipment, net | 156,076 | 161,538 | Premises and equipment, net | 146,869 | 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 | 10,538 | 12,836 | ||||||||||||||||
Other assets | Other assets | 151,607 | 168,503 | Other assets | 192,983 | 144,126 | ||||||||||||||||
Total assets | Total assets | $ | 14,298,056 | 13,806,268 | Total assets | $ | 14,154,695 | 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 | $ | 3,058,249 | 3,099,526 | ||||||||||||||
Interest-bearing demand deposits | Interest-bearing demand deposits | 2,824,219 | 2,755,950 | Interest-bearing demand deposits | 2,858,691 | 2,940,442 | ||||||||||||||||
Money market deposit accounts | Money market deposit accounts | 2,538,607 | 2,437,539 | Money market deposit accounts | 2,631,712 | 2,629,882 | ||||||||||||||||
Savings deposits | Savings deposits | 2,262,152 | 2,047,424 | Savings deposits | 2,362,725 | 2,303,760 | ||||||||||||||||
Time deposits | Time deposits | 1,463,098 | 1,642,096 | Time deposits | 1,155,878 | 1,327,555 | ||||||||||||||||
Total deposits | Total deposits | 12,090,708 | 11,599,233 | Total deposits | 12,067,255 | 12,301,165 | ||||||||||||||||
Borrowed funds | Borrowed funds | 257,377 | 283,044 | Borrowed funds | 130,490 | 139,093 | ||||||||||||||||
Subordinated debt | Subordinated debt | 113,666 | 123,575 | |||||||||||||||||||
Junior subordinated debentures | Junior subordinated debentures | 128,924 | 128,794 | Junior subordinated debentures | 129,184 | 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 | 55,622 | 44,582 | ||||||||||||||||
Accrued interest payable | Accrued interest payable | 1,820 | 2,054 | Accrued interest payable | 1,725 | 1,804 | ||||||||||||||||
Other liabilities | Other liabilities | 190,258 | 209,210 | Other liabilities | 162,214 | 178,664 | ||||||||||||||||
Total liabilities | Total liabilities | 12,722,695 | 12,267,565 | Total liabilities | 12,660,156 | 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, 126,881,766 and 126,612,183 shares issued and outstanding, respectively | Common stock, $0.01 par value: 500,000,000 shares authorized, 126,881,766 and 126,612,183 shares issued and outstanding, respectively | 1,269 | 1,266 | |||||||||||||||||||
Additional paid-in capital | Additional paid-in capital | 1,025,174 | 1,015,502 | Additional paid-in capital | 1,015,349 | 1,010,405 | ||||||||||||||||
Retained earnings | Retained earnings | 595,100 | 555,480 | Retained earnings | 620,551 | 609,529 | ||||||||||||||||
Accumulated other comprehensive loss | Accumulated other comprehensive loss | (46,192) | (33,549) | Accumulated other comprehensive loss | (142,630) | (37,629) | ||||||||||||||||
Total shareholders’ equity | Total shareholders’ equity | 1,575,361 | 1,538,703 | Total shareholders’ equity | 1,494,539 | 1,583,571 | ||||||||||||||||
Total liabilities and shareholders’ equity | Total liabilities and shareholders’ equity | $ | 14,298,056 | 13,806,268 | Total liabilities and shareholders’ equity | $ | 14,154,695 | 14,501,508 |
Quarter ended June 30, | Six months ended June 30, | Quarter ended June 30, | Six months ended June 30, | |||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||||||||||||||||||
Interest income: | Interest income: | Interest income: | ||||||||||||||||||||||||||||||||||||||||||||
Loans receivable | Loans receivable | $ | 95,255 | 103,012 | 197,573 | 197,985 | Loans receivable | $ | 95,574 | 95,255 | 183,748 | 197,573 | ||||||||||||||||||||||||||||||||||
Mortgage-backed securities | Mortgage-backed securities | 5,680 | 4,038 | 9,880 | 8,213 | Mortgage-backed securities | 7,158 | 5,680 | 13,518 | 9,880 | ||||||||||||||||||||||||||||||||||||
Taxable investment securities | Taxable investment securities | 693 | 439 | 1,327 | 1,087 | Taxable investment securities | 715 | 693 | 1,392 | 1,327 | ||||||||||||||||||||||||||||||||||||
Tax-free investment securities | Tax-free investment securities | 594 | 564 | 1,169 | 749 | Tax-free investment securities | 683 | 594 | 1,357 | 1,169 | ||||||||||||||||||||||||||||||||||||
FHLB stock dividends | FHLB stock dividends | 138 | 309 | 254 | 571 | FHLB stock dividends | 82 | 138 | 163 | 254 | ||||||||||||||||||||||||||||||||||||
Interest-earning deposits | Interest-earning deposits | 192 | 185 | 375 | 320 | Interest-earning deposits | 1,684 | 192 | 2,151 | 375 | ||||||||||||||||||||||||||||||||||||
Total interest income | Total interest income | 102,552 | 108,547 | 210,578 | 208,925 | Total interest income | 105,896 | 102,552 | 202,329 | 210,578 | ||||||||||||||||||||||||||||||||||||
Interest expense: | Interest expense: | Interest expense: | ||||||||||||||||||||||||||||||||||||||||||||
Deposits | Deposits | 4,773 | 9,336 | 10,287 | 20,739 | Deposits | 3,341 | 4,773 | 7,092 | 10,287 | ||||||||||||||||||||||||||||||||||||
Borrowed funds | Borrowed funds | 2,050 | 1,133 | 4,104 | 2,880 | Borrowed funds | 2,290 | 2,050 | 4,349 | 4,104 | ||||||||||||||||||||||||||||||||||||
Total interest expense | Total interest expense | 6,823 | 10,469 | 14,391 | 23,619 | Total interest expense | 5,631 | 6,823 | 11,441 | 14,391 | ||||||||||||||||||||||||||||||||||||
Net interest income | Net interest income | 95,729 | 98,078 | 196,187 | 185,306 | Net interest income | 100,265 | 95,729 | 190,888 | 196,187 | ||||||||||||||||||||||||||||||||||||
Provision for credit losses | Provision for credit losses | 0 | 51,750 | (5,620) | 79,387 | Provision for credit losses | 2,629 | — | 1,148 | (5,620) | ||||||||||||||||||||||||||||||||||||
Net interest income after provision for credit losses | Net interest income after provision for credit losses | 95,729 | 46,328 | 201,807 | 105,919 | Net interest income after provision for credit losses | 97,636 | 95,729 | 189,740 | 201,807 | ||||||||||||||||||||||||||||||||||||
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 | (3) | (105) | (5) | (126) | |||||||||||||||||||||||||||||||||||||||||
Service charges and fees | Service charges and fees | 12,744 | 13,069 | 25,138 | 28,185 | Service charges and fees | 13,673 | 12,744 | 26,740 | 25,138 | ||||||||||||||||||||||||||||||||||||
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 | 7,461 | 7,435 | 14,473 | 13,919 | ||||||||||||||||||||||||||||||||||||
Insurance commission income | Insurance commission income | 1,043 | 2,395 | 3,589 | 4,767 | Insurance commission income | — | 1,043 | — | 3,589 | ||||||||||||||||||||||||||||||||||||
Gain/(loss) on real estate owned, net | 166 | (97) | 124 | (188) | ||||||||||||||||||||||||||||||||||||||||||
Gain on real estate owned, net | Gain on real estate owned, net | 291 | 166 | 262 | 124 | |||||||||||||||||||||||||||||||||||||||||
Income from bank-owned life insurance | Income from bank-owned life insurance | 1,639 | 1,248 | 3,375 | 2,284 | Income from bank-owned life insurance | 2,008 | 1,639 | 3,991 | 3,375 | ||||||||||||||||||||||||||||||||||||
Mortgage banking income | Mortgage banking income | 3,811 | 12,022 | 9,831 | 13,216 | Mortgage banking income | 2,157 | 3,811 | 3,622 | 9,831 | ||||||||||||||||||||||||||||||||||||
Gain on sale of insurance business | Gain on sale of insurance business | 25,327 | 0 | 25,327 | 0 | Gain on sale of insurance business | — | 25,327 | — | 25,327 | ||||||||||||||||||||||||||||||||||||
Other operating income | Other operating income | 2,648 | 2,044 | 5,484 | 3,909 | Other operating income | 4,861 | 2,648 | 7,105 | 5,484 | ||||||||||||||||||||||||||||||||||||
Total noninterest income | Total noninterest income | 54,708 | 35,496 | 86,661 | 63,472 | Total noninterest income | 30,448 | 54,708 | 56,188 | 86,661 | ||||||||||||||||||||||||||||||||||||
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 | 48,073 | 48,894 | 94,990 | 96,133 | ||||||||||||||||||||||||||||||||||||
Premises and occupancy costs | Premises and occupancy costs | 7,410 | 7,195 | 16,224 | 14,666 | Premises and occupancy costs | 7,280 | 7,410 | 15,077 | 16,224 | ||||||||||||||||||||||||||||||||||||
Office operations | Office operations | 3,317 | 3,711 | 6,482 | 7,093 | Office operations | 3,162 | 3,317 | 6,545 | 6,482 | ||||||||||||||||||||||||||||||||||||
Collections expense | Collections expense | 303 | 644 | 919 | 1,118 | Collections expense | 403 | 303 | 923 | 919 | ||||||||||||||||||||||||||||||||||||
Processing expenses | Processing expenses | 15,151 | 11,680 | 28,607 | 22,822 | Processing expenses | 12,947 | 15,151 | 25,495 | 28,607 | ||||||||||||||||||||||||||||||||||||
Marketing expenses | Marketing expenses | 2,101 | 2,047 | 4,081 | 3,554 | Marketing expenses | 2,047 | 2,101 | 4,175 | 4,081 | ||||||||||||||||||||||||||||||||||||
Federal deposit insurance premiums | Federal deposit insurance premiums | 1,353 | 1,618 | 2,660 | 1,618 | Federal deposit insurance premiums | 1,130 | 1,353 | 2,259 | 2,660 | ||||||||||||||||||||||||||||||||||||
Professional services | Professional services | 4,231 | 2,825 | 8,813 | 5,637 | Professional services | 3,333 | 4,231 | 5,906 | 8,813 | ||||||||||||||||||||||||||||||||||||
Amortization of intangible assets | Amortization of intangible assets | 1,433 | 1,760 | 3,027 | 3,411 | Amortization of intangible assets | 1,115 | 1,433 | 2,298 | 3,027 | ||||||||||||||||||||||||||||||||||||
Real estate owned expense | Real estate owned expense | 85 | 89 | 160 | 184 | Real estate owned expense | 72 | 85 | 109 | 160 | ||||||||||||||||||||||||||||||||||||
Merger, asset disposition and restructuring expense | Merger, asset disposition and restructuring expense | 632 | 9,679 | 641 | 12,137 | Merger, asset disposition and restructuring expense | — | 632 | 1,374 | 641 | ||||||||||||||||||||||||||||||||||||
Other expenses | Other expenses | 1,422 | 7,866 | 4,776 | 12,739 | Other expenses | 5,245 | 1,422 | 7,600 | 4,776 | ||||||||||||||||||||||||||||||||||||
Total noninterest expense | Total noninterest expense | 86,332 | 89,163 | 172,523 | 167,774 | Total noninterest expense | 84,807 | 86,332 | 166,751 | 172,523 | ||||||||||||||||||||||||||||||||||||
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 | 43,277 | 64,105 | 79,177 | 115,945 | |||||||||||||||||||||||||||||||||||||||||
Federal and state income taxes expense | Federal and state income taxes expense | 9,851 | 15,138 | 17,464 | 26,741 | |||||||||||||||||||||||||||||||||||||||||
Net income | Net income | $ | 33,426 | 48,967 | 61,713 | 89,204 | ||||||||||||||||||||||||||||||||||||||||
Basic earnings per share | Basic earnings per share | $ | 0.26 | 0.38 | 0.49 | 0.70 | ||||||||||||||||||||||||||||||||||||||||
Diluted earnings per share | Diluted earnings per share | $ | 0.26 | 0.38 | 0.49 | 0.70 |
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 June 30, | Six months ended June 30, | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
Net income | $ | 33,426 | 48,967 | 61,713 | 89,204 | ||||||||||||||||||
Other comprehensive income net of tax: | |||||||||||||||||||||||
Net unrealized holding gains/(losses) on marketable securities: | |||||||||||||||||||||||
Unrealized holding gains/(losses), net of tax of $11,973, ($1,245), $30,850, and $4,736, respectively | (39,954) | 4,322 | (104,737) | (13,099) | |||||||||||||||||||
Reclassification adjustment for gains included in net income, net of tax of $0, $43, $0, and $65, respectively | (1) | (136) | (2) | (211) | |||||||||||||||||||
Net unrealized holding gains/(losses) on marketable securities | (39,955) | 4,186 | (104,739) | (13,310) | |||||||||||||||||||
Defined benefit plan: | |||||||||||||||||||||||
Actuarial reclassification adjustments for prior period service costs and actuarial (gains)/losses included in net income, net of tax of $51, ($128), $101, and ($258), respectively | (131) | 334 | (262) | 667 | |||||||||||||||||||
Other comprehensive (loss)/income | (40,086) | 4,520 | (105,001) | (12,643) | |||||||||||||||||||
Total comprehensive (loss)/income | $ | (6,660) | 53,487 | (43,288) | 76,561 |
Additional paid-in capital | Retained earnings | Accumulated other comprehensive 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 June 30, 2022 | Quarter ended June 30, 2022 | Shares | Amount | Additional paid-in capital | Retained earnings | Accumulated other comprehensive loss | Total shareholders’ equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance at March 31, 2022 | Beginning balance at March 31, 2022 | 126,686,373 | $ | 1,267 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Comprehensive income: | Comprehensive income: | Comprehensive income: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income | Net income | — | — | — | 48,967 | — | 48,967 | Net income | — | — | — | 33,426 | — | 33,426 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive loss, net of tax of ($1,331) | — | — | — | — | 4,520 | 4,520 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive loss, net of tax of $12,024 | Other comprehensive loss, net of tax of $12,024 | — | — | — | — | (40,086) | (40,086) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total comprehensive income | — | — | — | 48,967 | 4,520 | 53,487 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total comprehensive income/(loss) | Total comprehensive income/(loss) | — | — | — | 33,426 | (40,086) | (6,660) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise of stock options | Exercise of stock options | 418,916 | 4 | 5,102 | — | — | 5,106 | Exercise of stock options | 139,795 | 1 | 1,618 | — | — | 1,619 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock-based compensation expense | Stock-based compensation expense | 320,755 | 3 | 1,715 | — | — | 1,718 | Stock-based compensation expense | 65,155 | 2 | 1,422 | — | — | 1,424 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share repurchases | (34,460) | — | (465) | — | — | (465) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock-based compensation forfeited | Stock-based compensation forfeited | (19,974) | — | — | — | — | — | Stock-based compensation forfeited | (9,557) | (1) | 1 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends paid ($0.20 per share) | Dividends paid ($0.20 per share) | — | — | — | (25,479) | — | (25,479) | Dividends paid ($0.20 per share) | — | — | — | (25,356) | — | (25,356) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance at June 30, 2021 | 127,907,885 | $ | 1,279 | 1,025,174 | 595,100 | (46,192) | 1,575,361 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance at June 30, 2022 | Ending balance at June 30, 2022 | 126,881,766 | $ | 1,269 | 1,015,349 | 620,551 | (142,630) | 1,494,539 |
Additional paid-in capital | Retained earnings | Accumulated other comprehensive income/(loss) | Total shareholders’ equity | ||||||||||||||||||||||||||||||||||||||
Common stock | |||||||||||||||||||||||||||||||||||||||||
Quarter ended June 30, 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 June 30, 2021 | Shares | Amount | |||||||||||||||||||||||||||||||||||||||
Beginning balance at March 31, 2021 | 127,222,648 | $ | 1,272 | 1,018,822 | 571,612 | (50,712) | 1,540,994 | ||||||||||||||||||||||||||||||||||
Comprehensive income: | |||||||||||||||||||||||||||||||||||||||||
Net income | — | — | — | 48,967 | — | 48,967 | |||||||||||||||||||||||||||||||||||
Other comprehensive income, net of tax of ($1,331) | — | — | — | — | 4,520 | 4,520 | |||||||||||||||||||||||||||||||||||
Total comprehensive income | — | — | — | 48,967 | 4,520 | 53,487 | |||||||||||||||||||||||||||||||||||
Exercise of stock options | 418,916 | 4 | 5,102 | — | — | 5,106 | |||||||||||||||||||||||||||||||||||
Stock-based compensation expense | 320,755 | 3 | 1,715 | — | — | 1,718 | |||||||||||||||||||||||||||||||||||
Share repurchases | (34,460) | — | (465) | — | — | (465) | |||||||||||||||||||||||||||||||||||
Stock-based compensation forfeited | (19,974) | — | — | — | — | — | |||||||||||||||||||||||||||||||||||
Dividends paid ($0.20 per share) | — | — | — | (25,479) | — | (25,479) | |||||||||||||||||||||||||||||||||||
Ending balance at June 30, 2021 | 127,907,885 | $ | 1,279 | 1,025,174 | 595,100 | (46,192) | 1,575,361 |
Additional paid-in capital | Retained earnings | Accumulated other comprehensive loss | Total shareholders’ equity | Additional paid-in capital | Retained earnings | Accumulated other comprehensive loss | Total shareholders’ equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock | 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 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six months ended June 30, 2022 | Six months ended June 30, 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 | — | — | — | 89,204 | — | 89,204 | Net income | — | — | — | 61,713 | — | 61,713 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive loss, net of tax of $4,543 | — | — | — | — | (12,643) | (12,643) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive loss, net of tax of $30,951 | Other comprehensive loss, net of tax of $30,951 | — | — | — | — | (105,001) | (105,001) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total comprehensive income/(loss) | Total comprehensive income/(loss) | — | — | — | 89,204 | (12,643) | 76,561 | Total comprehensive income/(loss) | — | — | — | 61,713 | (105,001) | (43,288) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise of stock options | Exercise of stock options | 986,345 | 10 | 12,023 | — | — | 12,033 | Exercise of stock options | 241,408 | 2 | 2,822 | — | — | 2,824 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock-based compensation expense | Stock-based compensation expense | 322,685 | 3 | 2,676 | — | — | 2,679 | Stock-based compensation expense | 75,377 | 2 | 2,121 | — | — | 2,123 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock-based compensation forfeited | Stock-based compensation forfeited | (47,202) | (1) | 1 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance at June 30, 2021 | 127,907,885 | $ | 1,279 | 1,025,174 | 595,100 | (46,192) | 1,575,361 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends paid ($0.40 per share) | Dividends paid ($0.40 per share) | — | — | — | (50,691) | — | (50,691) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance at June 30, 2022 | Ending balance at June 30, 2022 | 126,881,766 | $ | 1,269 | 1,015,349 | 620,551 | (142,630) | 1,494,539 |
Additional paid-in capital | Retained earnings | Accumulated other comprehensive 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 |
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 |
Six months ended June 30, | Six months ended June 30, | |||||||||||||||||||||
2021 | 2020 | 2022 | 2021 | |||||||||||||||||||
Operating activities: | Operating activities: | Operating activities: | ||||||||||||||||||||
Net income | Net income | $ | 89,204 | 1,739 | Net income | $ | 61,713 | 89,204 | ||||||||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | Adjustments to reconcile net income to net cash provided by operating activities: | Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||||||||||
Provision for credit losses | Provision for credit losses | (5,620) | 79,387 | Provision for credit losses | 1,148 | (5,620) | ||||||||||||||||
Net gain on sale of assets | Net gain on sale of assets | (570) | (164) | Net gain on sale of assets | (625) | (570) | ||||||||||||||||
Mortgage banking activity | Mortgage banking activity | (13,818) | (6,076) | Mortgage banking activity | (2,660) | (13,818) | ||||||||||||||||
Gain on sale of insurance business | Gain on sale of insurance business | (25,327) | 0 | Gain on sale of insurance business | — | (25,327) | ||||||||||||||||
Net depreciation, amortization and accretion | Net depreciation, amortization and accretion | 3,058 | 4,046 | Net depreciation, amortization and accretion | 2,860 | 3,058 | ||||||||||||||||
(Increase)/decrease in other assets | (Increase)/decrease in other assets | 26,603 | (46,883) | (Increase)/decrease in other assets | (23,489) | 26,603 | ||||||||||||||||
Increase/(decrease) in other liabilities | (18,261) | 73,401 | ||||||||||||||||||||
Decrease in other liabilities | Decrease in other liabilities | (16,891) | (18,261) | |||||||||||||||||||
Net amortization on marketable securities | Net amortization on marketable securities | 4,040 | 977 | Net amortization on marketable securities | 2,783 | 4,040 | ||||||||||||||||
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 | 2,123 | 2,679 | ||||||||||||||||
Noncash write-down of real estate owned | Noncash write-down of real estate owned | 128 | 220 | Noncash write-down of real estate owned | 41 | 128 | ||||||||||||||||
Deferred income tax (benefit)/expense | 900 | (3,470) | ||||||||||||||||||||
Deferred income tax expense | Deferred income tax expense | 2,256 | 900 | |||||||||||||||||||
Origination of loans held-for-sale | Origination of loans held-for-sale | (420,530) | (183,040) | Origination of loans held-for-sale | (225,091) | (420,530) | ||||||||||||||||
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 | 222,662 | 462,522 | ||||||||||||||||
Net cash provided by operating activities | Net cash provided by operating activities | 105,008 | 87,365 | Net cash provided by operating activities | 26,830 | 105,008 | ||||||||||||||||
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 | (212,892) | (479,165) | ||||||||||||||||
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 | (102,178) | (509,499) | ||||||||||||||||
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 | 57,254 | 18,261 | ||||||||||||||||
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 | 148,260 | 225,823 | ||||||||||||||||
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 | — | 61,748 | ||||||||||||||||
Proceeds from bank-owned life insurance | Proceeds from bank-owned life insurance | 3,984 | 0 | Proceeds from bank-owned life insurance | 2,553 | 3,984 | ||||||||||||||||
Loan originations | Loan originations | (2,056,750) | (2,466,315) | Loan originations | (2,158,246) | (2,056,750) | ||||||||||||||||
Loan purchases | Loan purchases | (304,163) | — | |||||||||||||||||||
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 | 2,054,203 | 2,292,701 | ||||||||||||||||
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 | 822 | (1,539) | ||||||||||||||||
Proceeds from sale of real estate owned | Proceeds from sale of real estate owned | 1,431 | 594 | Proceeds from sale of real estate owned | 424 | 1,431 | ||||||||||||||||
Proceeds from sale of real estate owned for investment, net | 153 | 303 | ||||||||||||||||||||
Purchase of premises and equipment | (1,005) | (7,815) | ||||||||||||||||||||
Proceeds from sale of real estate owned for investment | Proceeds from sale of real estate owned for investment | 153 | 153 | |||||||||||||||||||
Disposals/(purchases) of premises and equipment, net | Disposals/(purchases) of premises and equipment, net | 1,687 | (1,005) | |||||||||||||||||||
Proceeds from the sale of insurance business | Proceeds from the sale of insurance business | 28,238 | 0 | Proceeds from the sale of insurance business | — | 28,238 | ||||||||||||||||
Acquisitions, net of cash received | 0 | 261,712 | ||||||||||||||||||||
Net cash used in investing activities | Net cash used in investing activities | (415,619) | (495,392) | Net cash used in investing activities | (512,123) | (415,619) |
Six months ended June 30, | Six months ended June 30, | |||||||||||||||||||||
2021 | 2020 | 2022 | 2021 | |||||||||||||||||||
Financing activities: | Financing activities: | Financing activities: | ||||||||||||||||||||
Net increase in deposits | $ | 491,475 | 1,253,895 | |||||||||||||||||||
Net (decrease)/increase in deposits | Net (decrease)/increase in deposits | $ | (233,910) | 491,475 | ||||||||||||||||||
Repayments of long-term borrowings | Repayments of long-term borrowings | (22,000) | (31,200) | Repayments of long-term borrowings | (10,094) | (22,000) | ||||||||||||||||
Net decrease in short-term borrowings | Net decrease in short-term borrowings | (3,785) | (6,738) | Net decrease in short-term borrowings | (8,603) | (3,785) | ||||||||||||||||
Increase in advances by borrowers for taxes and insurance | Increase in advances by borrowers for taxes and insurance | 8,378 | 12,014 | Increase in advances by borrowers for taxes and insurance | 11,040 | 8,378 | ||||||||||||||||
Cash dividends paid on common stock | Cash dividends paid on common stock | (49,584) | (44,569) | Cash dividends paid on common stock | (50,691) | (49,584) | ||||||||||||||||
Purchase of common stock for retirement | Purchase of common stock for retirement | (5,031) | 0 | Purchase of common stock for retirement | — | (5,031) | ||||||||||||||||
Proceeds from stock options exercised | Proceeds from stock options exercised | 12,033 | 1,006 | Proceeds from stock options exercised | 2,824 | 12,033 | ||||||||||||||||
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 | (289,434) | 431,486 | |||||||||||||||||||
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 | $ | (774,727) | 120,875 | ||||||||||||||||||
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 | (774,727) | 120,875 | |||||||||||||||||||
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 | $ | 504,532 | 857,152 | ||||||||||||||
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 $6,943 and $10,295, respectively) | Interest on deposits and borrowings (including interest credited to deposit accounts of $6,943 and $10,295, respectively) | $ | 11,520 | 14,625 | ||||||||||||||||||
Income taxes | Income taxes | 20,601 | 2,306 | Income taxes | 11,581 | 20,601 | ||||||||||||||||
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 | $ | 2,591 | 2,831 | ||||||||||||||
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 | Amortized cost | Gross unrealized holding gains | Gross unrealized holding losses | Fair value | |||||||||||||||||||||||||||||||||||||||
Debt issued by the U.S government and agencies: | Debt issued by the U.S government and agencies: | Debt issued by the U.S government and agencies: | ||||||||||||||||||||||||||||||||||||||||||||
Due in one year through five years | Due in one year through five years | $ | 20,000 | — | (1,147) | 18,853 | ||||||||||||||||||||||||||||||||||||||||
Due after ten years | Due after ten years | $ | 59,435 | 125 | (306) | 59,254 | Due after ten years | 55,553 | — | (7,674) | 47,879 | |||||||||||||||||||||||||||||||||||
Debt issued by government-sponsored enterprises: | Debt issued by government-sponsored enterprises: | Debt issued by government-sponsored enterprises: | ||||||||||||||||||||||||||||||||||||||||||||
Due in less than one year | 25,208 | 13 | 0 | 25,221 | ||||||||||||||||||||||||||||||||||||||||||
Due in one year through five years | Due in one year through five years | 992 | — | (12) | 980 | |||||||||||||||||||||||||||||||||||||||||
Due in five years through ten years | Due in five years through ten years | 47,663 | 94 | (1,120) | 46,637 | Due in five years through ten years | 46,019 | — | (5,735) | 40,284 | ||||||||||||||||||||||||||||||||||||
Municipal securities: | Municipal securities: | Municipal securities: | ||||||||||||||||||||||||||||||||||||||||||||
Due in less than one year | Due in less than one year | 1,130 | 3 | (1) | 1,132 | Due in less than one year | 723 | 1 | — | 724 | ||||||||||||||||||||||||||||||||||||
Due in one year through five years | Due in one year through five years | 2,234 | 60 | 0 | 2,294 | Due in one year through five years | 1,174 | 6 | (19) | 1,161 | ||||||||||||||||||||||||||||||||||||
Due in five years through ten years | Due in five years through ten years | 20,017 | 556 | (89) | 20,484 | Due in five years through ten years | 32,974 | 25 | (1,640) | 31,359 | ||||||||||||||||||||||||||||||||||||
Due after ten years | Due after ten years | 87,956 | 3,265 | (102) | 91,119 | Due after ten years | 95,283 | 45 | (13,175) | 82,153 | ||||||||||||||||||||||||||||||||||||
Corporate debt issues: | Corporate debt issues: | |||||||||||||||||||||||||||||||||||||||||||||
Due in five years through ten years | Due in five years through ten years | 13,564 | 8 | (62) | 13,510 | |||||||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | Residential mortgage-backed securities: | Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||
Fixed rate pass-through | Fixed rate pass-through | 303,717 | 3,587 | (1,134) | 306,170 | Fixed rate pass-through | 243,193 | 144 | (22,991) | 220,346 | ||||||||||||||||||||||||||||||||||||
Variable rate pass-through | Variable rate pass-through | 12,968 | 387 | (15) | 13,340 | Variable rate pass-through | 9,813 | 62 | (60) | 9,815 | ||||||||||||||||||||||||||||||||||||
Fixed rate agency CMOs | Fixed rate agency CMOs | 988,012 | 6,582 | (6,981) | 987,613 | Fixed rate agency CMOs | 964,937 | 12 | (99,663) | 865,286 | ||||||||||||||||||||||||||||||||||||
Variable rate agency CMOs | Variable rate agency CMOs | 45,473 | 310 | (23) | 45,760 | Variable rate agency CMOs | 32,518 | 137 | (262) | 32,393 | ||||||||||||||||||||||||||||||||||||
Total residential mortgage-backed securities | Total residential mortgage-backed securities | 1,350,170 | 10,866 | (8,153) | 1,352,883 | Total residential mortgage-backed securities | 1,250,461 | 355 | (122,976) | 1,127,840 | ||||||||||||||||||||||||||||||||||||
Total marketable securities available-for-sale | Total marketable securities available-for-sale | $ | 1,593,813 | 14,982 | (9,771) | 1,599,024 | Total marketable securities available-for-sale | $ | 1,516,743 | 440 | (152,440) | 1,364,743 |
Amortized cost | Gross unrealized holding gains | Gross unrealized holding losses | Fair value | ||||||||||||||||||||
Debt issued by the U.S. government and agencies: | |||||||||||||||||||||||
Due 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 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 | 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 year through five years | Due in one year through five years | $ | 16,478 | 0 | (18) | 16,460 | Due in one year through five years | $ | 16,477 | — | (1,214) | 15,263 | ||||||||||||||||||||||||||||||||||
Due in five years through ten years | Due in five years through ten years | 107,972 | 0 | (3,578) | 104,394 | Due in five years through ten years | 107,975 | — | (15,547) | 92,428 | ||||||||||||||||||||||||||||||||||||
Residential mortgage-backed securities: | Residential mortgage-backed securities: | Residential mortgage-backed securities: | ||||||||||||||||||||||||||||||||||||||||||||
Fixed rate pass-through | Fixed rate pass-through | 202,269 | 591 | (658) | 202,202 | Fixed rate pass-through | 171,477 | 2 | (18,329) | 153,150 | ||||||||||||||||||||||||||||||||||||
Variable rate pass-through | Variable rate pass-through | 761 | 26 | 0 | 787 | Variable rate pass-through | 611 | 2 | — | 613 | ||||||||||||||||||||||||||||||||||||
Fixed rate agency CMOs | Fixed rate agency CMOs | 311,341 | 576 | (3,762) | 308,155 | Fixed rate agency CMOs | 626,080 | 197 | (52,731) | 573,546 | ||||||||||||||||||||||||||||||||||||
Variable rate agency CMOs | Variable rate agency CMOs | 603 | 19 | 0 | 622 | Variable rate agency CMOs | 560 | 5 | — | 565 | ||||||||||||||||||||||||||||||||||||
Total residential mortgage-backed securities | Total residential mortgage-backed securities | 514,974 | 1,212 | (4,420) | 511,766 | Total residential mortgage-backed securities | 798,728 | 206 | (71,060) | 727,874 | ||||||||||||||||||||||||||||||||||||
Total marketable securities held-to-maturity | Total marketable securities held-to-maturity | $ | 639,424 | 1,212 | (8,016) | 632,620 | Total marketable securities held-to-maturity | $ | 923,180 | 206 | (87,821) | 835,565 |
Amortized cost | Gross unrealized holding gains | Gross unrealized holding losses | Fair value | 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 | $ | 142 | 142 | ||||||||||||||
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 | 44,173 | 42,250 | ||||||||||||||||
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 | 175,552 | 163,453 | ||||||||||||||||
Due after ten years | Due after ten years | 1,057,005 | 1,056,953 | Due after ten years | 1,030,594 | 921,995 | ||||||||||||||||
Total residential mortgage-backed securities | Total residential mortgage-backed securities | $ | 1,350,170 | 1,352,883 | Total residential mortgage-backed securities | $ | 1,250,461 | 1,127,840 |
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 | $ | 20,792 | 18,371 | ||||||||||||||
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 | 171,108 | 152,785 | ||||||||||||||||
Due after ten years | Due after ten years | 292,333 | 289,661 | Due after ten years | 606,828 | 556,718 | ||||||||||||||||
Total residential mortgage-backed securities | Total residential mortgage-backed securities | $ | 514,974 | 511,766 | Total residential mortgage-backed securities | $ | 798,728 | 727,874 |
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 | $ | 65,246 | (6,707) | 150,441 | (24,622) | 215,687 | (31,329) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Municipal securities | Municipal securities | 11,013 | (191) | 121 | (1) | 11,134 | (192) | Municipal securities | 101,666 | (14,055) | 3,702 | (779) | 105,368 | (14,834) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate debt issues | Corporate debt issues | 6,409 | (62) | — | — | 6,409 | (62) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 1,141,928 | (107,959) | 560,788 | (86,077) | 1,702,716 | (194,036) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 1,305,087 | (17,674) | 10,531 | (113) | 1,315,618 | (17,787) | Total | $ | 1,315,249 | (128,783) | 714,931 | (111,478) | 2,030,180 | (240,261) |
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 | 798,728 | 798,728 | ||||||||||||||||
Total marketable securities held-to-maturity | Total marketable securities held-to-maturity | $ | 639,424 | 639,424 | Total marketable securities held-to-maturity | $ | 923,180 | 923,180 |
June 30, 2021 | December 31, 2020 | June 30, 2022 | December 31, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Originated | Acquired | Total | Originated | Acquired | Total | Originated (1) | Acquired (2) | Total | Originated (1) | Acquired (2) | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Personal Banking: | Personal Banking: | 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 | $ | 3,101,251 | 185,524 | 3,286,775 | 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 | 1,095,844 | 184,648 | 1,280,492 | 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 | 1,785,828 | 109,907 | 1,895,735 | 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 | 97,939 | 8,871 | 106,810 | 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 | 6,080,862 | 488,950 | 6,569,812 | 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 | 2,130,573 | 355,401 | 2,485,974 | 2,202,027 | 423,454 | 2,625,481 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | Commercial real estate loans - owner occupied | 327,039 | 105,099 | 432,138 | 344,016 | 153,892 | 497,908 | Commercial real estate loans - owner occupied | 342,907 | 47,295 | 390,202 | 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 | 926,565 | 60,271 | 986,836 | 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 | 3,400,045 | 462,967 | 3,863,012 | 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 | 9,480,907 | 951,917 | 10,432,824 | 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 | (84,300) | (14,055) | (98,355) | (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 | $ | 9,396,607 | 937,862 | 10,334,469 | 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 | |||||||||||||||||||||||||||||||
Allowance for Credit Losses | |||||||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||
Residential mortgage loans | $ | 7,247 | 1,922 | (770) | 234 | 5,861 | |||||||||||||||||||||||||||||
Home equity loans | 7,239 | 2,253 | (379) | 124 | 5,241 | ||||||||||||||||||||||||||||||
Vehicle loans | 12,888 | (1,196) | (1,598) | 794 | 14,888 | ||||||||||||||||||||||||||||||
Consumer loans | 2,801 | 691 | (803) | 350 | 2,563 | ||||||||||||||||||||||||||||||
Total Personal Banking | 30,175 | 3,670 | (3,550) | 1,502 | 28,553 | ||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||
Commercial real estate loans | 64,580 | (2,925) | (3,074) | 373 | 70,206 | ||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 4,729 | (1,138) | (890) | 4 | 6,753 | ||||||||||||||||||||||||||||||
Commercial loans | 17,846 | 393 | (1,161) | 129 | 18,485 | ||||||||||||||||||||||||||||||
Total Commercial Banking | 87,155 | (3,670) | (5,125) | 506 | 95,444 | ||||||||||||||||||||||||||||||
Total | $ | 117,330 | 0 | (8,675) | 2,008 | 123,997 | |||||||||||||||||||||||||||||
Allowance for Credit Losses - off-balance sheet exposure | |||||||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||
Residential mortgage loans | $ | 2 | 0 | 0 | 0 | 2 | |||||||||||||||||||||||||||||
Home equity loans | 42 | 8 | 0 | 0 | 34 | ||||||||||||||||||||||||||||||
Total Personal Banking | 44 | 8 | 0 | 0 | 36 | ||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||
Commercial real estate loans | 1,932 | (183) | 0 | 0 | 2,115 | ||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 181 | (207) | 0 | 0 | 388 | ||||||||||||||||||||||||||||||
Commercial loans | 1,232 | (848) | 0 | 0 | 2,080 | ||||||||||||||||||||||||||||||
Total Commercial Banking | 3,345 | (1,238) | 0 | 0 | 4,583 | ||||||||||||||||||||||||||||||
Total off-balance sheet exposure | $ | 3,389 | (1,230) | 0 | 0 | 4,619 | |||||||||||||||||||||||||||||
Balance as of June 30, 2022 | Current period provision | Charge-offs | Recoveries | Balance as of March 31, 2022 | ||||||||||||||||||||||||||||||||||
Allowance for Credit Losses | ||||||||||||||||||||||||||||||||||||||
Personal Banking: | ||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | $ | 16,158 | 2,723 | (138) | 267 | 13,306 | ||||||||||||||||||||||||||||||||
Home equity loans | 5,232 | (583) | (255) | 427 | 5,643 | |||||||||||||||||||||||||||||||||
Vehicle loans | 15,738 | 1,888 | (934) | 603 | 14,181 | |||||||||||||||||||||||||||||||||
Consumer loans | 779 | (1,685) | (978) | 333 | 3,109 | |||||||||||||||||||||||||||||||||
Total Personal Banking | 37,907 | 2,343 | (2,305) | 1,630 | 36,239 | |||||||||||||||||||||||||||||||||
Commercial Banking: | ||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | 39,641 | (1,917) | (4,392) | 1,378 | 44,572 | |||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 4,095 | (188) | — | 7 | 4,276 | |||||||||||||||||||||||||||||||||
Commercial loans | 16,712 | 2,391 | (329) | 442 | 14,208 | |||||||||||||||||||||||||||||||||
Total Commercial Banking | 60,448 | 286 | (4,721) | 1,827 | 63,056 | |||||||||||||||||||||||||||||||||
Total | $ | 98,355 | 2,629 | (7,026) | 3,457 | 99,295 | ||||||||||||||||||||||||||||||||
Allowance for Credit Losses - off-balance sheet exposure | ||||||||||||||||||||||||||||||||||||||
Personal Banking: | ||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | $ | 6 | — | — | — | 6 | ||||||||||||||||||||||||||||||||
Home equity loans | 64 | 9 | — | — | 55 | |||||||||||||||||||||||||||||||||
Total Personal Banking | 70 | 9 | — | — | 61 | |||||||||||||||||||||||||||||||||
Commercial Banking: | ||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | 3,463 | 1,671 | — | — | 1,792 | |||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 328 | 120 | — | — | 208 | |||||||||||||||||||||||||||||||||
Commercial loans | 3,589 | 1,596 | — | — | 1,993 | |||||||||||||||||||||||||||||||||
Total Commercial Banking | 7,380 | 3,387 | — | — | 3,993 | |||||||||||||||||||||||||||||||||
Total off-balance sheet exposure | $ | 7,450 | 3,396 | — | — | 4,054 | ||||||||||||||||||||||||||||||||
Balance 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 March 31, 2021 | |||||||||||||||||||||||||||||||
Allowance for Credit Losses | |||||||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||
Residential mortgage loans | $ | 7,247 | 1,922 | (770) | 234 | 5,861 | |||||||||||||||||||||||||||||
Home equity loans | 7,239 | 2,253 | (379) | 124 | 5,241 | ||||||||||||||||||||||||||||||
Vehicle loans | 12,888 | (1,196) | (1,598) | 794 | 14,888 | ||||||||||||||||||||||||||||||
Consumer loans | 2,801 | 691 | (803) | 350 | 2,563 | ||||||||||||||||||||||||||||||
Total Personal Banking | 30,175 | 3,670 | (3,550) | 1,502 | 28,553 | ||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||
Commercial real estate loans | 64,580 | (2,925) | (3,074) | 373 | 70,206 | ||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 4,729 | (1,138) | (890) | 4 | 6,753 | ||||||||||||||||||||||||||||||
Commercial loans | 17,846 | 393 | (1,161) | 129 | 18,485 | ||||||||||||||||||||||||||||||
Total Commercial Banking | 87,155 | (3,670) | (5,125) | 506 | 95,444 | ||||||||||||||||||||||||||||||
Total | $ | 117,330 | — | (8,675) | 2,008 | 123,997 | |||||||||||||||||||||||||||||
Allowance for Credit Losses - off-balance sheet exposure | |||||||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||
Residential mortgage loans | $ | 2 | — | — | — | 2 | |||||||||||||||||||||||||||||
Home equity loans | 42 | 8 | — | — | 34 | ||||||||||||||||||||||||||||||
Total Personal Banking | 44 | 8 | — | — | 36 | ||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||
Commercial real estate loans | 1,932 | (183) | — | — | 2,115 | ||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 181 | (207) | — | — | 388 | ||||||||||||||||||||||||||||||
Commercial loans | 1,232 | (848) | — | — | 2,080 | ||||||||||||||||||||||||||||||
Total Commercial Banking | 3,345 | (1,238) | — | — | 4,583 | ||||||||||||||||||||||||||||||
Total off-balance sheet exposure | $ | 3,389 | (1,230) | — | — | 4,619 |
Balance as of June 30, 2021 | Current period provision | Charge-offs | Recoveries | Balance as of December 31, 2020 | Balance as of June 30, 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 | 1,330 | (1,625) | 276 | 7,266 | Residential mortgage loans | $ | 16,158 | 9,685 | (1,321) | 421 | 7,373 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity loans | Home equity loans | 7,239 | 1,601 | (607) | 253 | 5,992 | Home equity loans | 5,232 | (214) | (702) | 848 | 5,300 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Vehicle loans | Vehicle loans | 12,888 | (423) | (2,905) | 1,391 | 14,825 | Vehicle loans | 15,738 | 583 | (1,581) | 1,253 | 15,483 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer loans | Consumer loans | 2,801 | 1,342 | (2,099) | 687 | 2,871 | Consumer loans | 779 | (691) | (2,054) | 640 | 2,884 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Personal Banking | Total Personal Banking | 30,175 | 3,850 | (7,236) | 2,607 | 30,954 | Total Personal Banking | 37,907 | 9,363 | (5,658) | 3,162 | 31,040 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Banking: | Commercial Banking: | Commercial Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | Commercial real estate loans | 64,580 | (7,756) | (7,700) | 655 | 79,381 | Commercial real estate loans | 39,641 | (11,582) | (5,416) | 2,498 | 54,141 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | Commercial real estate loans - owner occupied | 4,729 | (4,904) | (890) | 5 | 10,518 | Commercial real estate loans - owner occupied | 4,095 | 201 | — | 11 | 3,883 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | Commercial loans | 17,846 | 3,190 | (1,215) | 2,297 | 13,574 | Commercial loans | 16,712 | 3,166 | (1,010) | 1,379 | 13,177 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial Banking | Total Commercial Banking | 87,155 | (9,470) | (9,805) | 2,957 | 103,473 | Total Commercial Banking | 60,448 | (8,215) | (6,426) | 3,888 | 71,201 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 117,330 | (5,620) | (17,041) | 5,564 | 134,427 | Total | $ | 98,355 | 1,148 | (12,084) | 7,050 | 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 | 7 | 0 | 0 | 35 | Home equity loans | 64 | 25 | — | — | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Personal Banking | Total Personal Banking | 44 | 7 | 0 | 0 | 37 | Total Personal Banking | 70 | 29 | — | — | 41 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Banking: | Commercial Banking: | Commercial Banking: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | Commercial real estate loans | 1,932 | (1,517) | 0 | 0 | 3,449 | Commercial real estate loans | 3,463 | 2,582 | — | — | 881 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | Commercial real estate loans - owner occupied | 181 | (145) | 0 | 0 | 326 | Commercial real estate loans - owner occupied | 328 | 186 | — | — | 142 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | Commercial loans | 1,232 | (1,319) | 0 | 0 | 2,551 | Commercial loans | 3,589 | 2,195 | — | — | 1,394 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial Banking | Total Commercial Banking | 3,345 | (2,981) | 0 | 0 | 6,326 | Total Commercial Banking | 7,380 | 4,963 | — | — | 2,417 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total off-balance sheet exposure | Total off-balance sheet exposure | $ | 3,389 | (2,974) | 0 | 0 | 6,363 | Total off-balance sheet exposure | $ | 7,450 | 4,992 | — | — | 2,458 |
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 |
Balance as of June 30, 2021 | Current period provision | Charge-offs | Recoveries | Balance as of December 31, 2020 | |||||||||||||||||||||||||
Allowance for Credit Losses | |||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||
Residential mortgage loans | $ | 7,247 | 1,330 | (1,625) | 276 | 7,266 | |||||||||||||||||||||||
Home equity loans | 7,239 | 1,601 | (607) | 253 | 5,992 | ||||||||||||||||||||||||
Vehicle loans | 12,888 | (423) | (2,905) | 1,391 | 14,825 | ||||||||||||||||||||||||
Consumer loans | 2,801 | 1,342 | (2,099) | 687 | 2,871 | ||||||||||||||||||||||||
Total Personal Banking | 30,175 | 3,850 | (7,236) | 2,607 | 30,954 | ||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||
Commercial real estate loans | 64,580 | (7,756) | (7,700) | 655 | 79,381 | ||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 4,729 | (4,904) | (890) | 5 | 10,518 | ||||||||||||||||||||||||
Commercial loans | 17,846 | 3,190 | (1,215) | 2,297 | 13,574 | ||||||||||||||||||||||||
Total Commercial Banking | 87,155 | (9,470) | (9,805) | 2,957 | 103,473 | ||||||||||||||||||||||||
Total | $ | 117,330 | (5,620) | (17,041) | 5,564 | 134,427 | |||||||||||||||||||||||
Allowance for Credit Losses - off-balance sheet exposure | |||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||
Residential mortgage loans | $ | 2 | — | — | — | 2 | |||||||||||||||||||||||
Home equity loans | 42 | 7 | — | — | 35 | ||||||||||||||||||||||||
Total Personal Banking | 44 | 7 | — | — | 37 | ||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||
Commercial real estate loans | 1,932 | (1,517) | — | — | 3,449 | ||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 181 | (145) | — | — | 326 | ||||||||||||||||||||||||
Commercial loans | 1,232 | (1,319) | — | — | 2,551 | ||||||||||||||||||||||||
Total Commercial Banking | 3,345 | (2,981) | — | — | 6,326 | ||||||||||||||||||||||||
Total off-balance sheet exposure | $ | 3,389 | (2,974) | — | — | 6,363 |
Total loans receivable | Allowance for credit losses | Nonaccrual loans (1) | Loans 90 days past due and accruing | TDRs | Allowance related to TDRs | Additional commitments to customers with loans classified as TDRs | |||||||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | $ | 2,954,551 | 7,247 | 10,471 | 0 | 7,347 | 944 | 0 | |||||||||||||||||||||||||||||||||
Home equity loans | 1,376,228 | 7,239 | 6,965 | 0 | 1,968 | 652 | 0 | ||||||||||||||||||||||||||||||||||
Vehicle loans | 1,391,520 | 12,888 | 2,579 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||
Consumer loans | 353,711 | 2,801 | 477 | 302 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||
Total Personal Banking | 6,076,010 | 30,175 | 20,492 | 302 | 9,315 | 1,596 | 0 | ||||||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | 2,783,051 | 64,580�� | 162,301 | 0 | 14,588 | 890 | 500 | ||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 432,138 | 4,729 | 1,870 | 0 | 452 | 162 | 0 | ||||||||||||||||||||||||||||||||||
Commercial loans | 1,018,781 | 17,846 | 22,098 | 0 | 3,076 | 315 | 765 | ||||||||||||||||||||||||||||||||||
Total Commercial Banking | 4,233,970 | 87,155 | 186,269 | 0 | 18,116 | 1,367 | 1,265 | ||||||||||||||||||||||||||||||||||
Total | $ | 10,309,980 | 117,330 | 206,761 | 302 | 27,431 | 2,963 | 1,265 |
Total loans receivable | Allowance for credit losses | Nonaccrual loans (1) | Loans 90 days past due and accruing | TDRs | Allowance related to TDRs | Additional commitments to customers with loans classified as TDRs | |||||||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | $ | 3,286,775 | 16,158 | 7,616 | — | 6,157 | 861 | — | |||||||||||||||||||||||||||||||||
Home equity loans | 1,280,492 | 5,232 | 4,156 | — | 1,465 | 472 | — | ||||||||||||||||||||||||||||||||||
Vehicle loans | 1,895,735 | 15,738 | 3,166 | — | — | — | — | ||||||||||||||||||||||||||||||||||
Consumer loans | 106,810 | 779 | 136 | 379 | — | — | — | ||||||||||||||||||||||||||||||||||
Total Personal Banking | 6,569,812 | 37,907 | 15,074 | 379 | 7,622 | 1,333 | — | ||||||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | 2,485,974 | 39,641 | 76,437 | — | 42,180 | 1,558 | 18 | ||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 390,202 | 4,095 | 590 | — | 144 | 23 | — | ||||||||||||||||||||||||||||||||||
Commercial loans | 986,836 | 16,712 | 6,284 | — | 4,291 | 549 | 327 | ||||||||||||||||||||||||||||||||||
Total Commercial Banking | 3,863,012 | 60,448 | 83,311 | — | 46,615 | 2,130 | 345 | ||||||||||||||||||||||||||||||||||
Total | $ | 10,432,824 | 98,355 | 98,385 | 379 | 54,237 | 3,463 | 345 |
Total loans receivable | Allowance for 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 |
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 | ||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||
Residential mortgage loans | $ | 15,924 | 10,471 | — | 0 | ||||||||||||||||||||||||
Home equity loans | 9,123 | 6,773 | 192 | 0 | |||||||||||||||||||||||||
Vehicle loans | 5,533 | 2,576 | 3 | 0 | |||||||||||||||||||||||||
Consumer loans | 1,031 | 477 | 0 | 302 | |||||||||||||||||||||||||
Total Personal Banking | 31,611 | 20,297 | 195 | 302 | |||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||
Commercial real estate loans | 44,092 | 101,472 | 60,829 | 0 | |||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 3,642 | 1,870 | 0 | 0 | |||||||||||||||||||||||||
Commercial loans | 23,487 | 17,323 | 4,775 | 0 | |||||||||||||||||||||||||
Total Commercial Banking | 71,221 | 120,665 | 65,604 | 0 | |||||||||||||||||||||||||
Total | $ | 102,832 | 140,962 | 65,799 | 302 |
June 30, 2022 | |||||||||||||||||||||||||||||||||||
Nonaccrual loans at January 1, 2022 | Nonaccrual loans with an allowance | Nonaccrual loans with no allowance | Total nonaccrual loans at the end of the period | Loans 90 days past due and accruing | |||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||
Residential mortgage loans | $ | 10,402 | 7,616 | — | 7,616 | — | |||||||||||||||||||||||||||||
Home equity loans | 5,758 | 3,956 | 200 | 4,156 | — | ||||||||||||||||||||||||||||||
Vehicle loans | 3,263 | 1,941 | 1,225 | 3,166 | — | ||||||||||||||||||||||||||||||
Consumer loans | 675 | 136 | — | 136 | 379 | ||||||||||||||||||||||||||||||
Total Personal Banking | 20,098 | 13,649 | 1,425 | 15,074 | 379 | ||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||
Commercial real estate loans | 129,666 | 10,534 | 65,903 | 76,437 | — | ||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 1,233 | 590 | — | 590 | — | ||||||||||||||||||||||||||||||
Commercial loans | 7,474 | 3,506 | 2,778 | 6,284 | — | ||||||||||||||||||||||||||||||
Total Commercial Banking | 138,373 | 14,630 | 68,681 | 83,311 | — | ||||||||||||||||||||||||||||||
Total | $ | 158,471 | 28,279 | 70,106 | 98,385 | 379 |
December 31, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nonaccrual loans at January 1, 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 | $ | 575 | — | 575 | |||||||||||||||||||||||||||||||||||||||||||||||
Home equity loans | Home equity loans | 99 | 0 | 0 | 99 | Home equity loans | 100 | — | 100 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total Personal Banking | Total Personal Banking | 685 | 0 | 0 | 685 | Total Personal Banking | 675 | — | 675 | |||||||||||||||||||||||||||||||||||||||||||||||||
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 | 74,267 | — | 74,267 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | Commercial loans | 2,851 | 10,069 | 4,403 | 17,323 | Commercial loans | 3,810 | 1,262 | 5,072 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial Banking | Total Commercial Banking | 153,277 | 11,921 | 7,835 | 173,033 | Total Commercial Banking | 78,077 | 1,262 | 79,339 | |||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 153,962 | 11,921 | 7,835 | 173,718 | Total | $ | 78,752 | 1,262 | 80,014 |
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 June 30, | |||||||||||||||||||||||
2022 | 2021 | ||||||||||||||||||||||
Number of contracts | Amount | Number of contracts | Amount | ||||||||||||||||||||
Beginning TDR balance: | 130 | $ | 28,701 | 164 | $ | 27,510 | |||||||||||||||||
New TDRs | 2 | 26,115 | 2 | 2,295 | |||||||||||||||||||
Re-modified TDRs | 5 | 6,403 | 1 | 344 | |||||||||||||||||||
Net paydowns | — | (479) | — | (1,610) | |||||||||||||||||||
Paid-off loans: | |||||||||||||||||||||||
Residential mortgage loans | — | — | 4 | (726) | |||||||||||||||||||
Home equity loans | 1 | (13) | 1 | (11) | |||||||||||||||||||
Commercial real estate loans | 2 | (80) | 2 | (302) | |||||||||||||||||||
Commercial loans | 1 | (7) | 1 | (69) | |||||||||||||||||||
Ending TDR balance: | 128 | $ | 54,237 | 158 | $ | 27,431 | |||||||||||||||||
Accruing TDRs | $ | 16,590 | $ | 18,480 | |||||||||||||||||||
Nonaccrual TDRs | 37,647 | 8,951 |
For the six months ended June 30, | For the six months ended June 30, | |||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2022 | 2021 | |||||||||||||||||||||||||||||||||||||||||||
Number of contracts | Amount | Number of contracts | Amount | Number of contracts | Amount | Number of contracts | Amount | |||||||||||||||||||||||||||||||||||||||
Beginning TDR balance: | Beginning TDR balance: | 170 | $ | 32,135 | 176 | $ | 31,999 | Beginning TDR balance: | 134 | $ | 30,288 | 170 | $ | 32,135 | ||||||||||||||||||||||||||||||||
New TDRs | New TDRs | 2 | 2,295 | 3 | 84 | New TDRs | 2 | 26,115 | 2 | 2,295 | ||||||||||||||||||||||||||||||||||||
Re-modified TDRs | Re-modified TDRs | 5 | 1,241 | 3 | 5,487 | Re-modified TDRs | 6 | 6,603 | 5 | 1,241 | ||||||||||||||||||||||||||||||||||||
Net paydowns | Net paydowns | 0 | (4,073) | 0 | (1,509) | Net paydowns | — | (1,509) | — | (4,073) | ||||||||||||||||||||||||||||||||||||
Charge-offs: | Charge-offs: | Charge-offs: | ||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | Residential mortgage loans | 0 | 0 | 0 | 0 | Residential mortgage loans | 1 | (3) | — | — | ||||||||||||||||||||||||||||||||||||
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: | Paid-off loans: | Paid-off loans: | ||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | Residential mortgage loans | 4 | (726) | 2 | (330) | Residential mortgage loans | 1 | (201) | 4 | (726) | ||||||||||||||||||||||||||||||||||||
Home equity loans | Home equity loans | 1 | (11) | 2 | (3) | Home equity loans | 2 | (77) | 1 | (11) | ||||||||||||||||||||||||||||||||||||
Vehicle loans | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | Commercial real estate loans | 5 | (2,686) | 1 | (26) | Commercial real estate loans | 3 | (369) | 5 | (2,686) | ||||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | Commercial real estate loans - owner occupied | 1 | (47) | 1 | (25) | Commercial real estate loans - owner occupied | — | — | 1 | (47) | ||||||||||||||||||||||||||||||||||||
Commercial loans | Commercial loans | 3 | (697) | 5 | (217) | Commercial loans | 1 | (7) | 3 | (697) | ||||||||||||||||||||||||||||||||||||
Ending TDR balance: | Ending TDR balance: | 158 | $ | 27,431 | 167 | $ | 35,450 | Ending TDR balance: | 128 | $ | 54,237 | 158 | $ | 27,431 | ||||||||||||||||||||||||||||||||
Accruing TDRs | Accruing TDRs | $ | 18,480 | $ | 17,888 | Accruing TDRs | $ | 16,590 | $ | 18,480 | ||||||||||||||||||||||||||||||||||||
Nonaccrual TDRs | Nonaccrual TDRs | 8,951 | 17,562 | Nonaccrual TDRs | 37,647 | 8,951 |
For the quarter ended June 30, 2022 | For the six months ended June 30, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||
Number of contracts | Recorded investment at the time of modification | Current recorded investment | Current allowance | Number of contracts | Recorded investment at the time of modification | Current recorded investment | Current allowance | ||||||||||||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | 3 | $ | 58,042 | 29,292 | 1,122 | 4 | $ | 58,372 | 29,492 | 1,133 | |||||||||||||||||||||||||||||||||||||
Commercial loans | 4 | 3,524 | 3,226 | 410 | 4 | 3,524 | 3,226 | 411 | |||||||||||||||||||||||||||||||||||||||
Total Commercial Banking | 7 | 61,566 | 32,518 | 1,532 | 8 | 61,896 | 32,718 | 1,544 | |||||||||||||||||||||||||||||||||||||||
Total | 7 | $ | 61,566 | 32,518 | 1,532 | 8 | $ | 61,896 | 32,718 | 1,544 | |||||||||||||||||||||||||||||||||||||
For the quarter ended June 30, 2021 | For the six months ended June 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | — | $ | — | — | — | 1 | $ | 121 | 116 | 10 | |||||||||||||||||||||||||||||||||||||
Home equity loans | — | — | — | — | 1 | 3 | — | — | |||||||||||||||||||||||||||||||||||||||
Total Personal Banking | — | — | — | — | 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 | — | 2 | 2,396 | 2,295 | — | |||||||||||||||||||||||||||||||||||||||
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 |
Type of modification | |||||||||||||||||||||||||||||||||||
Number of contracts | Rate | Maturity date | Total | ||||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||
Commercial real estate loans | 3 | $ | 4,179 | 25,113 | 29,292 | ||||||||||||||||||||||||||||||
Commercial loans | 4 | — | 3,226 | 3,226 | |||||||||||||||||||||||||||||||
Total Commercial Banking | 7 | 4,179 | 28,339 | 32,518 | |||||||||||||||||||||||||||||||
Total | 7 | $ | 4,179 | 28,339 | 32,518 |
Type of modification | |||||||||||||||||||||||||||||||||||
Number of contracts | Rate | Maturity date | Total | ||||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||
Commercial real estate loans | 1 | $ | — | 343 | 343 | ||||||||||||||||||||||||||||||
Commercial loans | 2 | — | 2,295 | 2,295 | |||||||||||||||||||||||||||||||
Total Commercial Banking | 3 | — | 2,638 | 2,638 | |||||||||||||||||||||||||||||||
Total | 3 | $ | — | 2,638 | 2,638 |
Type of modification | |||||||||||||||||||||||||||||||||||
Number of contracts | Rate | Maturity date | Total | ||||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||
Commercial real estate loans | 4 | $ | 4,179 | 25,313 | 29,492 | ||||||||||||||||||||||||||||||
Commercial loans | 4 | — | 3,226 | 3,226 | |||||||||||||||||||||||||||||||
Total Commercial Banking | 8 | 4,179 | 28,539 | 32,718 | |||||||||||||||||||||||||||||||
Total | 8 | $ | 4,179 | 28,539 | 32,718 |
Type of modification | |||||||||||||||||||||||||||||||||||
Number of contracts | Rate | Maturity date | Other | Total | |||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||
Residential mortgage loans | 1 | $ | 116 | — | — | 116 | |||||||||||||||||||||||||||||
Home equity loans | 1 | — | — | — | — | ||||||||||||||||||||||||||||||
Total Personal Banking | 2 | 116 | — | — | 116 | ||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||
Commercial real estate loans | 3 | — | 1,052 | 73 | 1,125 | ||||||||||||||||||||||||||||||
Commercial loans | 2 | — | 2,295 | — | 2,295 | ||||||||||||||||||||||||||||||
Total Commercial Banking | 5 | — | 3,347 | 73 | 3,420 | ||||||||||||||||||||||||||||||
Total | 7 | $ | 116 | 3,347 | 73 | 3,536 |
Number of contracts | Recorded investment at the time of modification | Current recorded investment | Current allowance | |||||||||||||||||||||||
Commercial Banking: | ||||||||||||||||||||||||||
Commercial real estate loans | 1 | $ | 4,167 | 3,823 | — | |||||||||||||||||||||
Total Commercial Banking | 1 | 4,167 | 3,823 | — | ||||||||||||||||||||||
Total | 1 | $ | 4,167 | 3,823 | — |
Number of contracts | Recorded investment at the time of modification | Current recorded investment | Current allowance | |||||||||||||||||||||||
Commercial Banking: | ||||||||||||||||||||||||||
Commercial real estate loans | 1 | $ | 454 | 454 | 50 | |||||||||||||||||||||
Total Commercial Banking | 1 | 454 | 454 | 50 | ||||||||||||||||||||||
Total | 1 | $ | 454 | 454 | 50 |
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 June 30, 2020 | For the six months ended June 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | 0 | $ | 0 | 0 | 0 | |||||||||||||||||||||||||||||||||||||
Home equity loans | 1 | 67 | 67 | 12 | 2 | 86 | 84 | 15 | |||||||||||||||||||||||||||||||||||||||
Vehicle loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||||||||||
Consumer loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||||||||||
Total Personal Banking | 1 | 67 | 67 | 12 | 2 | 86 | 84 | 15 | |||||||||||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | 1 | 454 | 454 | 58 | 1 | 454 | 454 | 58 | |||||||||||||||||||||||||||||||||||||||
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 | 2 | 2,954 | 3,436 | 58 | 4 | 5,031 | 5,487 | 189 | |||||||||||||||||||||||||||||||||||||||
Total | 3 | $ | 3,021 | 3,503 | 70 | 6 | $ | 5,117 | 5,571 | 204 |
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 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||
Vehicle loans | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||
Consumer loans | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||
Total Personal Banking | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||
Commercial real estate loans | 1 | 0 | 0 | 343 | 0 | 343 | |||||||||||||||||||||||||||||
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 | 3 | 0 | 0 | 2,638 | 0 | 2,638 | |||||||||||||||||||||||||||||
Total | 3 | $ | 0 | 0 | 2,638 | 0 | 2,638 |
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 |
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 | $ | 785 | 5,941 | 5,445 | 12,171 | 3,274,604 | 3,286,775 | — | |||||||||||||||||||||||||||||||||
Home equity loans | 3,664 | 952 | 2,081 | 6,697 | 1,273,795 | 1,280,492 | — | ||||||||||||||||||||||||||||||||||
Vehicle loans | 6,449 | 1,170 | 1,861 | 9,480 | 1,886,255 | 1,895,735 | — | ||||||||||||||||||||||||||||||||||
Consumer loans | 449 | 290 | 460 | 1,199 | 105,611 | 106,810 | 379 | ||||||||||||||||||||||||||||||||||
Total Personal Banking | 11,347 | 8,353 | 9,847 | 29,547 | 6,540,265 | 6,569,812 | 379 | ||||||||||||||||||||||||||||||||||
Commercial Banking: | |||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | 2,581 | 1,350 | 14,823 | 18,754 | 2,467,220 | 2,485,974 | — | ||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | 120 | 122 | 126 | 368 | 389,834 | 390,202 | — | ||||||||||||||||||||||||||||||||||
Commercial loans | 1,486 | 341 | 583 | 2,410 | 984,426 | 986,836 | — | ||||||||||||||||||||||||||||||||||
Total Commercial Banking | 4,187 | 1,813 | 15,532 | 21,532 | 3,841,480 | 3,863,012 | — | ||||||||||||||||||||||||||||||||||
Total loans | $ | 15,534 | 10,166 | 25,379 | 51,079 | 10,381,745 | 10,432,824 | 379 |
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 June 30, 2022 | 2021 | 2020 | 2019 | 2018 | Prior | Revolving loans | Revolving loans converted to term loans | Total loans receivable | |||||||||||||||||||||||||||||||||||||||||||||
Personal Banking: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | 290,471 | 843,802 | 572,648 | 278,086 | 141,007 | 1,147,103 | — | — | 3,273,117 | |||||||||||||||||||||||||||||||||||||||||||
Substandard | — | 106 | 710 | 258 | 417 | 12,167 | — | — | 13,658 | ||||||||||||||||||||||||||||||||||||||||||||
Total residential mortgage loans | 290,471 | 843,908 | 573,358 | 278,344 | 141,424 | 1,159,270 | — | — | 3,286,775 | ||||||||||||||||||||||||||||||||||||||||||||
Home equity loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 62,500 | 138,755 | 187,786 | 121,932 | 56,161 | 231,691 | 435,304 | 40,995 | 1,275,124 | ||||||||||||||||||||||||||||||||||||||||||||
Substandard | — | 48 | — | 378 | 345 | 2,889 | 845 | 863 | 5,368 | ||||||||||||||||||||||||||||||||||||||||||||
Total home equity loans | 62,500 | 138,803 | 187,786 | 122,310 | 56,506 | 234,580 | 436,149 | 41,858 | 1,280,492 | ||||||||||||||||||||||||||||||||||||||||||||
Vehicle loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 527,150 | 742,059 | 288,651 | 181,929 | 97,160 | 55,620 | — | — | 1,892,569 | ||||||||||||||||||||||||||||||||||||||||||||
Substandard | 83 | 964 | 402 | 764 | 578 | 375 | — | — | 3,166 | ||||||||||||||||||||||||||||||||||||||||||||
Total vehicle loans | 527,233 | 743,023 | 289,053 | 182,693 | 97,738 | 55,995 | — | — | 1,895,735 | ||||||||||||||||||||||||||||||||||||||||||||
Consumer loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 9,391 | 12,822 | 5,966 | 5,235 | 3,613 | 6,244 | 61,662 | 1,361 | 106,294 | ||||||||||||||||||||||||||||||||||||||||||||
Substandard | — | 27 | — | 10 | 5 | 61 | 412 | 1 | 516 | ||||||||||||||||||||||||||||||||||||||||||||
Total consumer loans | 9,391 | 12,849 | 5,966 | 5,245 | 3,618 | 6,305 | 62,074 | 1,362 | 106,810 | ||||||||||||||||||||||||||||||||||||||||||||
Total Personal Banking | 889,595 | 1,738,583 | 1,056,163 | 588,592 | 299,286 | 1,456,150 | 498,223 | 43,220 | 6,569,812 | ||||||||||||||||||||||||||||||||||||||||||||
Business Banking: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 124,555 | 344,825 | 415,474 | 297,289 | 235,348 | 798,170 | 28,902 | 9,104 | 2,253,667 | ||||||||||||||||||||||||||||||||||||||||||||
Special mention | — | 798 | 1,466 | 20,818 | 1,077 | 6,863 | 988 | 15 | 32,025 | ||||||||||||||||||||||||||||||||||||||||||||
Substandard | — | 96 | 7,117 | 28,401 | 43,407 | 116,480 | 564 | 4,217 | 200,282 | ||||||||||||||||||||||||||||||||||||||||||||
Total commercial real estate loans | 124,555 | 345,719 | 424,057 | 346,508 | 279,832 | 921,513 | 30,454 | 13,336 | 2,485,974 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans - owner occupied | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 41,726 | 63,126 | 18,245 | 39,001 | 47,377 | 132,060 | 3,233 | 1,772 | 346,540 | ||||||||||||||||||||||||||||||||||||||||||||
Special mention | — | — | — | 15,067 | 3,698 | 689 | 61 | — | 19,515 | ||||||||||||||||||||||||||||||||||||||||||||
Substandard | — | — | — | 5,360 | 1,934 | 14,747 | — | 2,106 | 24,147 | ||||||||||||||||||||||||||||||||||||||||||||
Total commercial real estate loans - owner occupied | 41,726 | 63,126 | 18,245 | 59,428 | 53,009 | 147,496 | 3,294 | 3,878 | 390,202 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | 335,778 | 127,282 | 63,945 | 54,761 | 21,293 | 57,692 | 288,640 | 4,738 | 954,129 | ||||||||||||||||||||||||||||||||||||||||||||
Special mention | 153 | 155 | 283 | 486 | 47 | — | 1,344 | — | 2,468 | ||||||||||||||||||||||||||||||||||||||||||||
Substandard | 569 | 306 | 896 | 3,309 | 2,596 | 1,881 | 11,060 | 9,622 | 30,239 | ||||||||||||||||||||||||||||||||||||||||||||
Total commercial loans | 336,500 | 127,743 | 65,124 | 58,556 | 23,936 | 59,573 | 301,044 | 14,360 | 986,836 | ||||||||||||||||||||||||||||||||||||||||||||
Total Business Banking | 502,781 | 536,588 | 507,426 | 464,492 | 356,777 | 1,128,582 | 334,792 | 31,574 | 3,863,012 | ||||||||||||||||||||||||||||||||||||||||||||
Total loans | $ | 1,392,376 | 2,275,171 | 1,563,589 | 1,053,084 | 656,063 | 2,584,732 | 833,015 | 74,794 | 10,432,824 |
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 | June 30, 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 | 0 | 3,717 | ||||||||||||||||||||
Less: accumulated amortization | Less: accumulated amortization | (59,680) | (56,896) | Less: accumulated amortization | (64,416) | (62,158) | ||||||||||||||||
Core deposit intangibles - net | Core deposit intangibles - net | $ | 15,219 | 18,003 | Core deposit intangibles - net | $ | 10,483 | 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 | (12,720) | (11,133) | ||||||||||||||||
Customer and Contract intangible assets - net | Customer and Contract intangible assets - net | 143 | 1,933 | Customer and Contract intangible assets - net | 55 | 95 | ||||||||||||||||
Total intangible assets - net | Total intangible assets - net | $ | 15,362 | 19,936 | Total intangible assets - net | $ | 10,538 | 12,836 |
For the quarter ended June 30, | $ | ||||
For the quarter ended June 30, | |||||
For the six months ended June 30, 2022 | 2,298 | ||||
For the six months ended June 30, 2021 | 3,027 | ||||
For the year ending December 31, 2022 | 4,277 | ||||
For the year ending December 31, 2023 | 3,270 | ||||
For the year ending December 31, 2024 | 2,452 | ||||
For the year ending December 31, 2025 | 1,662 | ||||
For the year ending December 31, 2026 | 871 | ||||
For the year ending December 31, 2027 | 304 |
Total | ||||||||
Balance at December 31, | $ | |||||||
382,279 | ||||||||
Purchase accounting adjustment | 77 | |||||||
Goodwill disposed of due to sale of insurance business | (1,359) | |||||||
Balance at December 31, 2021 | 380,997 | |||||||
Balance at June 30, | $ | 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 |
June 30, 2022 | December 31, 2021 | ||||||||||||||||||||||
Amount | Average rate | Amount | Average rate | ||||||||||||||||||||
Collateralized borrowings, due within one year | $ | 117,440 | 0.19 | % | $ | 139,093 | 0.19 | % | |||||||||||||||
Collateral received, due within one year | 13,050 | 1.58 | % | — | — | ||||||||||||||||||
Total borrowed funds | $ | 130,490 | $ | 139,093 |
Maturity date | Interest rate | Capital debt securities | June 30, 2021 | Maturity date | Interest rate | Capital debt securities | June 30, 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 | 7,962 | 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 | 2,755 | 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 | 3,632 | 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 | 3,622 | 3,570 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 128,924 | $ | 129,184 | 129,054 |
Quarter ended June 30, | Six months ended June 30, | Quarter ended June 30, | Six months ended June 30, | |||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||||||||||||||||||
Net income | Net income | $ | 48,967 | (6,200) | 89,204 | 1,739 | Net income | $ | 33,426 | 48,967 | 61,713 | 89,204 | ||||||||||||||||||||||||||||||||||
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 | 159 | 340 | 294 | 619 | ||||||||||||||||||||||||||||||||||||
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 | $ | 33,267 | 48,627 | 61,419 | 88,585 | ||||||||||||||||||||||||||||||||||
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 | 126,059,165 | 126,749,707 | 125,960,997 | 126,456,814 | ||||||||||||||||||||||||||||||||||||
Add: Participating shares outstanding | Add: Participating shares outstanding | 887,958 | 982,754 | 887,958 | 982,754 | Add: Participating shares outstanding | 604,613 | 887,958 | 604,613 | 887,958 | ||||||||||||||||||||||||||||||||||||
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 | 126,663,778 | 127,637,665 | 126,565,610 | 127,344,772 | |||||||||||||||||||||||||||||||||||
Basic earnings per share | Basic earnings per share | $ | 0.38 | (0.05) | 0.70 | 0.02 | Basic earnings per share | $ | 0.26 | 0.38 | 0.49 | 0.70 | ||||||||||||||||||||||||||||||||||
Diluted earnings per share | Diluted earnings per share | $ | 0.38 | (0.05) | 0.70 | 0.02 | Diluted earnings per share | $ | 0.26 | 0.38 | 0.49 | 0.70 |
Quarter ended June 30, | Quarter ended June 30, | |||||||||||||||||||||||||||||||||||||||||||||
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 | 1,518 | 10 | 5 | ||||||||||||||||||||||||||||||||||||
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) | (581) | — | — | ||||||||||||||||||||||||||||||||||||
Amortization of the net loss | Amortization of the net loss | 1,040 | 924 | 3 | 4 | Amortization of the net loss | 381 | 1,040 | 2 | 3 | ||||||||||||||||||||||||||||||||||||
Net periodic cost | Net periodic cost | $ | 1,372 | 1,064 | 8 | 10 | Net periodic cost | $ | 223 | 1,372 | 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 |
Six months ended June 30, | ||||||||||||||||||||||||||
Pension benefits | Other post-retirement benefits | |||||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||||||||||||
Service cost | $ | 5,198 | 5,720 | — | — | |||||||||||||||||||||
Interest cost | 3,342 | 3,035 | 20 | 9 | ||||||||||||||||||||||
Expected return on plan assets | (7,728) | (6,930) | — | — | ||||||||||||||||||||||
Amortization of prior service cost | (1,128) | (1,161) | — | — | ||||||||||||||||||||||
Amortization of the net loss | 762 | 2,079 | 4 | 7 | ||||||||||||||||||||||
Net periodic cost | $ | 446 | 2,743 | 24 | 16 |
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 | $ | 504,532 | 504,532 | 504,532 | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Securities available-for-sale | Securities available-for-sale | 1,599,024 | 1,599,024 | 0 | 1,599,024 | 0 | Securities available-for-sale | 1,364,743 | 1,364,743 | — | 1,364,743 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Securities held-to-maturity | Securities held-to-maturity | 639,424 | 632,620 | 0 | 632,620 | 0 | Securities held-to-maturity | 923,180 | 835,565 | — | 835,565 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Loans receivable, net | Loans receivable, net | 10,163,595 | 10,152,694 | 0 | 0 | 10,152,694 | Loans receivable, net | 10,303,316 | 9,619,661 | — | — | 9,619,661 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | 31,153 | 31,153 | — | — | 31,153 | ||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest receivable | Accrued interest receivable | 27,585 | 27,585 | 27,585 | 0 | 0 | Accrued interest receivable | 27,708 | 27,708 | 27,708 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Interest rate lock commitments | Interest rate lock commitments | 3,608 | 3,608 | 0 | 0 | 3,608 | Interest rate lock commitments | 1,520 | 1,520 | — | — | 1,520 | ||||||||||||||||||||||||||||||||||||||||||||||
Forward commitments | Forward commitments | 393 | 393 | 0 | 393 | 0 | Forward commitments | 213 | 213 | — | 213 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Foreign exchange swaps | Foreign exchange swaps | 94 | 94 | 0 | 94 | 0 | Foreign exchange swaps | 2 | 2 | — | 2 | — | ||||||||||||||||||||||||||||||||||||||||||||||
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 | 31,018 | 31,018 | — | 31,018 | — | ||||||||||||||||||||||||||||||||||||||||||||||
FHLB stock | FHLB stock | 23,287 | 23,287 | 0 | 0 | 0 | FHLB stock | 13,362 | 13,362 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Total financial assets | Total financial assets | $ | 13,381,271 | 13,363,566 | 884,737 | 2,270,185 | 10,185,357 | Total financial assets | $ | 13,200,747 | 12,429,477 | 532,240 | 2,231,541 | 9,652,334 | ||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 10,911,377 | 10,911,377 | 10,911,377 | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Time deposits | Time deposits | 1,463,098 | 1,480,940 | 0 | 0 | 1,480,940 | Time deposits | 1,155,878 | 1,163,015 | — | — | 1,163,015 | ||||||||||||||||||||||||||||||||||||||||||||||
Borrowed funds | Borrowed funds | 257,377 | 262,405 | 133,876 | 128,529 | 0 | Borrowed funds | 130,490 | 130,418 | 130,418 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Subordinated debt | Subordinated debt | 113,666 | 107,485 | — | 107,485 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Junior subordinated debentures | Junior subordinated debentures | 128,924 | 121,598 | 0 | 0 | 121,598 | Junior subordinated debentures | 129,184 | 114,729 | — | — | 114,729 | ||||||||||||||||||||||||||||||||||||||||||||||
Foreign exchange swaps | 4 | 4 | 0 | 4 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 31,028 | 31,028 | — | 31,028 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Risk participation agreements | Risk participation agreements | 84 | 84 | 0 | 84 | 0 | Risk participation agreements | 18 | 18 | — | 18 | — | ||||||||||||||||||||||||||||||||||||||||||||||
Accrued interest payable | Accrued interest payable | 1,820 | 1,820 | 1,820 | 0 | 0 | Accrued interest payable | 1,725 | 1,725 | 1,725 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||
Total financial liabilities | Total financial liabilities | $ | 12,517,266 | 12,532,810 | 10,763,306 | 166,966 | 1,602,538 | Total financial liabilities | $ | 12,473,366 | 12,459,795 | 11,043,520 | 138,531 | 1,277,744 |
Carrying amount | Estimated fair value | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||
Financial assets: | |||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 736,277 | 736,277 | 736,277 | 0 | 0 | |||||||||||||||||||||||
Securities available-for-sale | 1,398,941 | 1,398,941 | 0 | 1,398,941 | 0 | ||||||||||||||||||||||||
Securities held-to-maturity | 178,887 | 179,666 | 0 | 179,666 | 0 | ||||||||||||||||||||||||
Loans receivable, net | 10,387,636 | 10,334,521 | 0 | 0 | 10,334,521 | ||||||||||||||||||||||||
Residential mortgage loans held-for-sale | 58,786 | 58,786 | 0 | 0 | 58,786 | ||||||||||||||||||||||||
Accrued interest receivable | 35,554 | 35,554 | 35,554 | 0 | 0 | ||||||||||||||||||||||||
Interest rate lock commitments | 6,465 | 6,465 | 0 | 0 | 6,465 | ||||||||||||||||||||||||
Forward commitments | 1,105 | 1,105 | 0 | 1,105 | 0 | ||||||||||||||||||||||||
Interest rate swaps not designated as hedging instruments | 53,863 | 53,863 | 0 | 53,863 | 0 | ||||||||||||||||||||||||
FHLB stock | 21,748 | 21,748 | 0 | 0 | 0 | ||||||||||||||||||||||||
Total financial assets | $ | 12,879,262 | 12,826,926 | 771,831 | 1,633,575 | 10,399,772 | |||||||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||||||||||
Savings and checking accounts | $ | 9,957,137 | 9,957,137 | 9,957,137 | 0 | 0 | |||||||||||||||||||||||
Time deposits | 1,642,096 | 1,669,546 | 0 | 0 | 1,669,546 | ||||||||||||||||||||||||
Borrowed funds | 283,044 | 283,074 | 159,745 | 123,329 | 0 | ||||||||||||||||||||||||
Junior subordinated debentures | 128,794 | 121,106 | 0 | 0 | 121,106 | ||||||||||||||||||||||||
Interest rate swaps not designated as hedging instruments | 54,579 | 54,579 | 0 | 54,579 | 0 | ||||||||||||||||||||||||
Risk participation agreements | 86 | 86 | 0 | 86 | 0 | ||||||||||||||||||||||||
Accrued interest payable | 2,054 | 2,054 | 2,054 | 0 | 0 | ||||||||||||||||||||||||
Total financial liabilities | $ | 12,067,790 | 12,087,582 | 10,118,936 | 177,994 | 1,790,652 |
Carrying amount | Estimated fair value | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||
Financial assets: | |||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 1,279,259 | 1,279,259 | 1,279,259 | — | — | |||||||||||||||||||||||
Securities available-for-sale | 1,548,592 | 1,548,592 | — | 1,548,592 | — | ||||||||||||||||||||||||
Securities held-to-maturity | 768,154 | 751,513 | — | 751,513 | — | ||||||||||||||||||||||||
Loans receivable, net | 9,889,095 | 9,648,825 | — | — | 9,648,825 | ||||||||||||||||||||||||
Residential mortgage loans held-for-sale | 25,056 | 25,056 | — | — | 25,056 | ||||||||||||||||||||||||
Accrued interest receivable | 25,599 | 25,599 | 25,599 | — | — | ||||||||||||||||||||||||
Interest rate lock commitments | 1,684 | 1,684 | — | — | 1,684 | ||||||||||||||||||||||||
Forward commitments | 371 | 371 | — | 371 | — | ||||||||||||||||||||||||
Interest rate swaps not designated as hedging instruments | 31,254 | 31,254 | — | 31,254 | — | ||||||||||||||||||||||||
FHLB stock | 14,184 | 14,184 | — | — | — | ||||||||||||||||||||||||
Total financial assets | $ | 13,583,248 | 13,326,337 | 1,304,858 | 2,331,730 | 9,675,565 | |||||||||||||||||||||||
Financial liabilities: | |||||||||||||||||||||||||||||
Savings and checking accounts | $ | 10,973,610 | 10,973,610 | 10,973,610 | — | — | |||||||||||||||||||||||
Time deposits | 1,327,555 | 1,339,308 | — | — | 1,339,308 | ||||||||||||||||||||||||
Borrowed funds | 139,093 | 139,093 | 139,093 | — | — | ||||||||||||||||||||||||
Subordinated debt | 123,575 | 129,138 | — | 129,138 | — | ||||||||||||||||||||||||
Junior subordinated debentures | 129,054 | 120,083 | — | — | 120,083 | ||||||||||||||||||||||||
Foreign exchange swaps | 341 | 341 | — | 341 | — | ||||||||||||||||||||||||
Interest rate swaps not designated as hedging instruments | 31,357 | 31,357 | — | 31,357 | — | ||||||||||||||||||||||||
Risk participation agreements | 60 | 60 | — | 60 | — | ||||||||||||||||||||||||
Accrued interest payable | 1,804 | 1,804 | 1,804 | — | — | ||||||||||||||||||||||||
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 | $ | — | 66,732 | — | 66,732 | ||||||||||||||||||
Government-sponsored enterprises | — | 41,264 | — | 41,264 | |||||||||||||||||||
States and political subdivisions | — | 115,397 | — | 115,397 | |||||||||||||||||||
Corporate | — | 13,510 | — | 13,510 | |||||||||||||||||||
Total debt securities | — | 236,903 | — | 236,903 | |||||||||||||||||||
Residential mortgage-backed securities: | |||||||||||||||||||||||
GNMA | — | 14,100 | — | 14,100 | |||||||||||||||||||
FNMA | — | 132,487 | — | 132,487 | |||||||||||||||||||
FHLMC | — | 83,164 | — | 83,164 | |||||||||||||||||||
Non-agency | — | 410 | — | 410 | |||||||||||||||||||
Collateralized mortgage obligations: | |||||||||||||||||||||||
GNMA | — | 404,716 | — | 404,716 | |||||||||||||||||||
FNMA | — | 217,403 | — | 217,403 | |||||||||||||||||||
FHLMC | — | 275,560 | — | 275,560 | |||||||||||||||||||
Total mortgage-backed securities | — | 1,127,840 | — | 1,127,840 | |||||||||||||||||||
Interest rate lock commitments | — | — | 1,520 | 1,520 | |||||||||||||||||||
Forward commitments | — | 213 | 0 | 213 | |||||||||||||||||||
Foreign exchange swaps | — | 2 | — | 2 | |||||||||||||||||||
Interest rate swaps not designated as hedging instruments | — | 31,018 | — | 31,018 | |||||||||||||||||||
Total assets | $ | — | 1,395,976 | 1,520 | 1,397,496 | ||||||||||||||||||
Interest rate swaps not designated as hedging instruments | — | 31,028 | — | 31,028 | |||||||||||||||||||
Risk participation agreements | — | 18 | — | 18 | |||||||||||||||||||
Total liabilities | $ | — | 31,046 | — | 31,046 |
Level 1 | Level 2 | Level 3 | Total assets at fair value | 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 June 30, | Six months ended June 30, 2022 | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
Beginning balance, | $ | 1,680 | 5,060 | 1,684 | 6,465 | ||||||||||||||||||
Interest rate lock commitments: | |||||||||||||||||||||||
Net activity | (160) | (1,452) | (164) | (2,857) | |||||||||||||||||||
Ending balance | $ | 1,520 | 3,608 | 1,520 | 3,608 | ||||||||||||||||||
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 | $ | — | — | 7,168 | 7,168 | ||||||||||||||||||||||||||||||||||
Mortgage servicing rights | 0 | 0 | 2,211 | 2,211 | ||||||||||||||||||||||||||||||||||||||||||
Real estate owned, net | Real estate owned, net | 0 | 0 | 1,353 | 1,353 | Real estate owned, net | — | — | 1,205 | 1,205 | ||||||||||||||||||||||||||||||||||||
Total assets | Total assets | $ | 0 | 0 | 94,852 | 94,852 | Total assets | $ | — | — | 8,373 | 8,373 |
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 | $ | 7,168 | 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% (6.86%) | ||||||||||||||||||||||||||||||||||||||||||||
Mortgage servicing rights | 2,211 | Discounted cash | Annual service cost | $84 | |||||||||||||||||||||||||||||||||||||||||||||
flow | Prepayment rates | 11.9% to 28.1% (22.3%) | |||||||||||||||||||||||||||||||||||||||||||||||
Expected life (months) | 41.4 to 70.7 (57.3) | ||||||||||||||||||||||||||||||||||||||||||||||||
Option adjusted spread | 750 basis points | ||||||||||||||||||||||||||||||||||||||||||||||||
Forward yield curve | 0.09% to 1.56% | ||||||||||||||||||||||||||||||||||||||||||||||||
Real estate owned, net | Real estate owned, net | $ | 1,353 | Appraisal value (1) | Estimated cost to sell | 10.0% | Real estate owned, net | 1,205 | Appraisal value (1) | Estimated cost to sell | 10.0% | ||||||||||||||||||||||||||||||||||||||
Loans held for sale | Loans held for sale | 31,153 | Quoted prices for similar loans in active markets adjusted by an expected pull-through rate | Estimated pull-through rate | 100.0% |
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 June 30, 2022 | |||||||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||
Interest rate swap agreements | $ | 691,991 | 31,018 | 691,991 | 31,028 | ||||||||||||||||||
Foreign exchange swap agreements | 675 | 2 | — | — | |||||||||||||||||||
Interest rate lock commitments | 72,160 | 1,520 | — | — | |||||||||||||||||||
Forward commitments | 19,621 | 213 | — | — | |||||||||||||||||||
Risk participation agreements | — | — | 92,812 | 18 | |||||||||||||||||||
Total Derivatives | $ | 784,447 | 32,753 | 784,803 | 31,046 | ||||||||||||||||||
At December 31, 2021 | |||||||||||||||||||||||
Derivatives not designated as hedging instruments: | |||||||||||||||||||||||
Interest rate swap agreements | $ | 644,997 | 31,254 | 644,997 | 31,357 | ||||||||||||||||||
Foreign exchange swap agreements | — | — | 17,124 | 341 | |||||||||||||||||||
Interest rate lock commitments | 67,473 | 1,684 | — | — | |||||||||||||||||||
Forward commitments | 14,484 | 371 | — | — | |||||||||||||||||||
Risk participation agreements | — | — | 93,135 | 60 | |||||||||||||||||||
Total derivatives | $ | 726,954 | 33,309 | 755,256 | 31,758 |
For the quarter ended June 30, | For the six months ended June 30, | ||||||||||||||||||||||
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 June 30, | For the six months ended June 30, | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
Non-hedging swap derivatives: | |||||||||||||||||||||||
Increase/(decrease) in other income | $ | 53 | (26) | 114 | 498 | ||||||||||||||||||
(Decrease)/increase in mortgage banking income | (96) | 1,510 | 322 | 3,570 |
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 June 30, 2022 | |||||||||||||||||||||||
Unrealized losses on securities available-for-sale | Change in defined benefit pension plans | Total | |||||||||||||||||||||
Balance as of March 31, 2022 | $ | (77,101) | (25,443) | (102,544) | |||||||||||||||||||
Other comprehensive loss before reclassification adjustments (1) | (39,954) | — | (39,954) | ||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (2) (3) | (1) | (131) | (132) | ||||||||||||||||||||
Net other comprehensive loss | (39,955) | (131) | (40,086) | ||||||||||||||||||||
Balance as of June 30, 2022 | $ | (117,056) | (25,574) | (142,630) |
For the quarter ended June 30, 2021 | |||||||||||||||||||||||
Unrealized gains/(losses) on securities available-for-sale | Change in defined benefit pension plans | Total | |||||||||||||||||||||
Balance as of March 31, 2021 | $ | (653) | (50,059) | (50,712) | |||||||||||||||||||
Other comprehensive loss before reclassification adjustments (4) | 4,322 | — | 4,322 | ||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (5) (6) | (136) | 334 | 198 | ||||||||||||||||||||
Net other comprehensive income | 4,186 | 334 | 4,520 | ||||||||||||||||||||
Balance as of June 30, 2021 | $ | 3,533 | (49,725) | (46,192) |
For the quarter ended 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 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, 2022 | |||||||||||||||||||||||
Unrealized gains/(losses) on securities available-for-sale | Change in defined benefit pension plans | Total | |||||||||||||||||||||
Balance as of December 31, 2021 | $ | (12,317) | (25,312) | (37,629) | |||||||||||||||||||
Other comprehensive loss before reclassification adjustments (1) | (104,737) | — | (104,737) | ||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (2) (3) | (2) | (262) | (264) | ||||||||||||||||||||
Net other comprehensive loss | (104,739) | (262) | (105,001) | ||||||||||||||||||||
Balance as of June 30, 2022 | $ | (117,056) | (25,574) | (142,630) |
For the six months ended June 30, 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) |
For the six months ended June 30, 2021 | |||||||||||||||||||||||
Unrealized gains on securities available-for-sale | Change in defined benefit pension plans | Total | |||||||||||||||||||||
Balance as of December 31, 2020 | $ | 16,843 | (50,392) | (33,549) | |||||||||||||||||||
Other comprehensive income/(loss) before reclassification adjustments (4) | (13,099) | — | (13,099) | ||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (5) (6) | (211) | 667 | 456 | ||||||||||||||||||||
Net other comprehensive (loss)/income | (13,310) | 667 | (12,643) | ||||||||||||||||||||
Balance as of June 30, 2021 | $ | 3,533 | (49,725) | (46,192) |
At June 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum capital | Well capitalized | At June 30, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Actual | requirements (1) | requirements | Actual | Minimum capital requirements (1) | Well capitalized requirements | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | Amount | Ratio | Amount | Ratio | Amount | Ratio | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total capital (to risk weighted assets) | Total capital (to risk weighted assets) | 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. | $ | 1,692,802 | 16.481 | % | $ | 1,078,484 | 10.500 | % | $ | 1,027,128 | 10.000 | % | ||||||||||||||||||||||||||||||||||||||||||||
Northwest Bank | Northwest Bank | 1,491,293 | 14.839 | % | 1,055,241 | 10.500 | % | 1,004,991 | 10.000 | % | Northwest Bank | 1,461,989 | 14.247 | % | 1,077,489 | 10.500 | % | 1,026,180 | 10.000 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Tier 1 capital (to risk weighted assets) | Tier 1 capital (to risk weighted assets) | 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. | 1,491,179 | 14.518 | % | 873,058 | 8.500 | % | 821,702 | 8.000 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Northwest Bank | Northwest Bank | 1,395,558 | 13.886 | % | 854,243 | 8.500 | % | 803,993 | 8.000 | % | Northwest Bank | 1,374,032 | 13.390 | % | 872,253 | 8.500 | % | 820,944 | 8.000 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
CET1 capital (to risk weighted assets) | CET1 capital (to risk weighted assets) | 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. | 1,365,984 | 13.299 | % | 718,989 | 7.000 | % | 667,633 | 6.500 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Northwest Bank | Northwest Bank | 1,395,558 | 13.886 | % | 703,494 | 7.000 | % | 653,244 | 6.500 | % | Northwest Bank | 1,374,032 | 13.390 | % | 718,326 | 7.000 | % | 667,017 | 6.500 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Tier 1 capital (leverage) (to average assets) | Tier 1 capital (leverage) (to average assets) | 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. | 1,491,179 | 10.717 | % | 556,565 | 4.000 | % | 695,707 | 5.000 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
Northwest Bank | Northwest Bank | 1,395,558 | 9.855 | % | 566,453 | 4.000 | % | 708,066 | 5.000 | % | Northwest Bank | 1,374,032 | 9.878 | % | 556,391 | 4.000 | % | 695,489 | 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 | June 30, 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 | $ | 5,445 | 7,641 | ||||||||||||||
Home equity loans | Home equity loans | 6,256 | 8,441 | Home equity loans | 2,081 | 4,262 | ||||||||||||||||
Consumer loans | 2,341 | 5,473 | ||||||||||||||||||||
Vehicle loans | Vehicle loans | 1,861 | 1,635 | |||||||||||||||||||
Other consumer loans | Other consumer loans | 460 | 765 | |||||||||||||||||||
Commercial real estate loans | Commercial real estate loans | 23,564 | 25,287 | Commercial real estate loans | 14,823 | 23,489 | ||||||||||||||||
Commercial real estate - owner occupied | Commercial real estate - owner occupied | 126 | 574 | |||||||||||||||||||
Commercial loans | Commercial loans | 4,126 | 7,325 | Commercial loans | 583 | 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 | $ | 25,379 | 39,471 | ||||||||||||||
Total REO, net | $ | 1,353 | 2,232 | |||||||||||||||||||
Total real estate owned (REO) | Total real estate owned (REO) | $ | 1,205 | 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 | 26,584 | 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 | 0.25 | % | 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 | 0.19 | % | 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 | $ | 25,000 | 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 | 73,385 | 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 | 379 | 331 | |||||||||||||||||||
Total nonperforming loans | Total nonperforming loans | 207,063 | 103,417 | Total nonperforming loans | 98,764 | 158,802 | ||||||||||||||||
Total nonperforming assets | Total nonperforming assets | $ | 208,416 | 105,649 | Total nonperforming assets | $ | 99,969 | 159,675 | ||||||||||||||
Total nonaccrual loans to total loans | Total nonaccrual loans to total loans | 0.94 | % | 1.59 | % | |||||||||||||||||
Nonaccrual TDR loans (1) | Nonaccrual TDR loans (1) | $ | 8,951 | 10,704 | Nonaccrual TDR loans (1) | $ | 37,647 | 17,216 | ||||||||||||||
Accruing TDR loans | Accruing TDR loans | 18,480 | 21,431 | Accruing TDR loans | 16,590 | 13,072 | ||||||||||||||||
Total TDR loans | Total TDR loans | $ | 27,431 | 32,135 | Total TDR loans | $ | 54,237 | 30,288 |
Quarter ended June 30, | Quarter ended June 30, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2022 | 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Average balance | Interest | Avg. yield/ cost (h) | Average balance | Interest | Avg. yield/ cost (h) | Average balance | Interest | Avg. yield/ cost (h) | Average balance | Interest | Avg. yield/ cost (h) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 3,171,469 | 27,327 | 3.45 | % | $ | 2,935,034 | 25,609 | 3.49 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
Home equity loans | Home equity loans | 1,380,794 | 12,232 | 3.55 | % | 1,415,091 | 13,806 | 3.92 | % | Home equity loans | 1,277,440 | 11,961 | 3.76 | % | 1,380,794 | 12,232 | 3.55 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer loans | Consumer loans | 1,589,739 | 14,555 | 3.67 | % | 1,375,130 | 14,993 | 4.39 | % | Consumer loans | 1,880,769 | 15,777 | 3.36 | % | 1,589,739 | 14,555 | 3.67 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 2,915,750 | 31,844 | 4.32 | % | 3,257,810 | 33,349 | 4.05 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | Commercial loans | 1,133,969 | 9,978 | 3.48 | % | 1,161,228 | 11,269 | 3.84 | % | Commercial loans | 912,454 | 9,090 | 3.94 | % | 1,133,969 | 9,978 | 3.48 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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 $425 and $468, respectively) | Loans receivable (a) (b) (d) (includes FTE adjustments of $425 and $468, respectively) | 10,157,882 | 95,999 | 3.79 | % | 10,297,346 | 95,723 | 3.73 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mortgage-backed securities (c) | Mortgage-backed securities (c) | 1,756,227 | 5,680 | 1.29 | % | 714,657 | 4,038 | 2.26 | % | Mortgage-backed securities (c) | 1,952,375 | 7,158 | 1.47 | % | 1,756,227 | 5,680 | 1.29 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment securities (c) (d) (includes FTE adjustments of $179 and $241, respectively) | 364,414 | 1,466 | 1.61 | % | 170,309 | 1,244 | 2.92 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment securities (c) (d) (includes FTE adjustments of $192 and $179, respectively) | Investment securities (c) (d) (includes FTE adjustments of $192 and $179, respectively) | 376,935 | 1,590 | 1.69 | % | 364,414 | 1,466 | 1.61 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FHLB stock, at cost | FHLB stock, at cost | 23,107 | 138 | 2.40 | % | 22,192 | 309 | 5.60 | % | FHLB stock, at cost | 13,428 | 82 | 2.44 | % | 23,107 | 138 | 2.40 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other interest-earning deposits | Other interest-earning deposits | 810,741 | 192 | 0.09 | % | 623,870 | 185 | 0.12 | % | Other interest-earning deposits | 846,142 | 1,684 | 0.79 | % | 810,741 | 192 | 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 $617 and $647, respectively) | Total interest-earning assets (includes FTE adjustments of $617 and $647, respectively) | 13,346,762 | 106,513 | 3.20 | % | 13,251,835 | 103,199 | 3.12 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Noninterest-earning assets (e) | Noninterest-earning assets (e) | 1,104,924 | 1,858,513 | Noninterest-earning assets (e) | 909,943 | 1,104,924 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total assets | Total assets | $ | 14,356,759 | $ | 13,590,131 | Total assets | $ | 14,256,705 | $ | 14,356,759 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 2,361,919 | 589 | 0.10 | % | $ | 2,255,578 | 590 | 0.10 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
Interest-bearing demand deposits | Interest-bearing demand deposits | 2,840,949 | 407 | 0.06 | % | 2,428,060 | 812 | 0.13 | % | Interest-bearing demand deposits | 2,857,336 | 310 | 0.04 | % | 2,840,949 | 407 | 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 | 2,653,467 | 668 | 0.10 | % | 2,537,629 | 621 | 0.10 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Time deposits | Time deposits | 1,493,947 | 3,155 | 0.85 | % | 1,761,260 | 6,276 | 1.43 | % | Time deposits | 1,220,815 | 1,774 | 0.58 | % | 1,493,947 | 3,155 | 0.85 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Borrowed funds (f) | Borrowed funds (f) | 131,240 | 150 | 0.46 | % | 371,700 | 296 | 0.32 | % | Borrowed funds (f) | 123,749 | 167 | 0.54 | % | 131,240 | 150 | 0.46 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated debentures | Subordinated debentures | 123,443 | 1,264 | 4.11 | % | — | — | — | % | Subordinated debentures | 119,563 | 1,203 | 4.03 | % | 123,443 | 1,264 | 4.11 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Junior subordinated debentures | Junior subordinated debentures | 128,882 | 636 | 1.95 | % | 127,472 | 837 | 2.60 | % | Junior subordinated debentures | 129,142 | 920 | 2.82 | % | 128,882 | 636 | 1.95 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 9,465,991 | 5,631 | 0.24 | % | 9,511,668 | 6,823 | 0.29 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Noninterest-bearing demand deposits (g) | Noninterest-bearing demand deposits (g) | 3,036,202 | 2,401,368 | Noninterest-bearing demand deposits (g) | 3,090,372 | 3,036,202 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Noninterest-bearing liabilities | Noninterest-bearing liabilities | 247,930 | 882,391 | Noninterest-bearing liabilities | 193,510 | 247,930 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total liabilities | Total liabilities | 12,795,800 | 12,061,263 | Total liabilities | 12,749,873 | 12,795,800 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shareholders’ equity | Shareholders’ equity | 1,560,959 | 1,528,868 | Shareholders’ equity | 1,506,832 | 1,560,959 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total liabilities and shareholders’ equity | Total liabilities and shareholders’ equity | $ | 14,356,759 | $ | 13,590,131 | Total liabilities and shareholders’ equity | $ | 14,256,705 | $ | 14,356,759 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 100,882 | 2.96 | % | 96,376 | 2.84 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 3,880,771 | 3.07 | % | $ | 3,740,167 | 2.91 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 1.39X |
For the quarter ended June 30, 2021 vs. 2020 | For the quarter ended June 30, 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 | $ | 1,576 | (1,300) | 276 | ||||||||||||||||||||||||
Mortgage-backed securities | Mortgage-backed securities | (1,727) | 3,369 | 1,642 | Mortgage-backed securities | 759 | 719 | 1,478 | ||||||||||||||||||||||||||
Investment securities | Investment securities | (559) | 781 | 222 | Investment securities | 71 | 53 | 124 | ||||||||||||||||||||||||||
FHLB stock, at cost | FHLB stock, at cost | (178) | 7 | (171) | FHLB stock, at cost | 3 | (59) | (56) | ||||||||||||||||||||||||||
Other interest-earning deposits | Other interest-earning deposits | (37) | 44 | 7 | Other interest-earning deposits | 1,406 | 86 | 1,492 | ||||||||||||||||||||||||||
Total interest-earning assets | Total interest-earning assets | (11,643) | 5,384 | (6,259) | Total interest-earning assets | 3,815 | (501) | 3,314 | ||||||||||||||||||||||||||
Interest-bearing liabilities: | Interest-bearing liabilities: | Interest-bearing liabilities: | ||||||||||||||||||||||||||||||||
Savings deposits | Savings deposits | (157) | 99 | (58) | Savings deposits | (27) | 26 | (1) | ||||||||||||||||||||||||||
Interest-bearing demand deposits | Interest-bearing demand deposits | (466) | 61 | (405) | Interest-bearing demand deposits | (99) | 2 | (97) | ||||||||||||||||||||||||||
Money market deposit accounts | Money market deposit accounts | (1,065) | 86 | (979) | Money market deposit accounts | 17 | 30 | 47 | ||||||||||||||||||||||||||
Time deposits | Time deposits | (2,572) | (549) | (3,121) | Time deposits | (984) | (397) | (1,381) | ||||||||||||||||||||||||||
Borrowed funds | Borrowed funds | 128 | (274) | (146) | Borrowed funds | 27 | (10) | 17 | ||||||||||||||||||||||||||
Subordinated debt | Subordinated debt | — | 1,264 | 1,264 | Subordinated debt | (25) | (36) | (61) | ||||||||||||||||||||||||||
Junior subordinated debentures | Junior subordinated debentures | (208) | 7 | (201) | Junior subordinated debentures | 282 | 2 | 284 | ||||||||||||||||||||||||||
Total interest-bearing liabilities | Total interest-bearing liabilities | (4,340) | 694 | (3,646) | Total interest-bearing liabilities | (809) | (383) | (1,192) | ||||||||||||||||||||||||||
Net change in net interest income | Net change in net interest income | $ | (7,303) | 4,690 | (2,613) | Net change in net interest income | $ | 4,624 | (118) | 4,506 |
Six months ended June 30, | Six months ended June 30, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2022 | 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Average balance | Interest | Avg. yield/ cost (h) | Average balance | Interest | Avg. yield/ cost (h) | Average balance | Interest | Avg. yield/ cost (h) | Average balance | Interest | Avg. yield/ cost (h) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets | Assets | Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest-earning assets: | Interest-earning assets: | Interest-earning assets: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage loans | Residential mortgage loans | $ | 2,971,037 | 51,975 | 3.50 | % | $ | 2,969,096 | 57,081 | 3.85 | % | Residential mortgage loans | $ | 3,077,155 | 52,868 | 3.44 | % | $ | 2,971,037 | 51,975 | 3.50 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
Home equity loans | Home equity loans | 1,406,260 | 25,046 | 3.57 | % | 1,380,076 | 28,607 | 4.17 | % | Home equity loans | 1,285,668 | 23,433 | 3.68 | % | 1,406,260 | 25,046 | 3.57 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer loans | Consumer loans | 1,526,861 | 29,121 | 3.82 | % | 1,249,233 | 27,153 | 4.37 | % | Consumer loans | 1,840,110 | 30,684 | 3.36 | % | 1,526,861 | 29,121 | 3.82 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate loans | Commercial real estate loans | 3,285,696 | 71,820 | 4.32 | % | 2,952,084 | 66,032 | 4.42 | % | Commercial real estate loans | 2,957,744 | 61,601 | 4.14 | % | 3,285,696 | 71,820 | 4.32 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | Commercial loans | 1,161,736 | 20,543 | 3.50 | % | 936,924 | 20,124 | 4.25 | % | Commercial loans | 868,854 | 15,987 | 3.66 | % | 1,161,736 | 20,543 | 3.50 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans receivable (a) (b) (d) (includes FTE adjustments of $825 and $932, respectively) | Loans receivable (a) (b) (d) (includes FTE adjustments of $825 and $932, respectively) | 10,029,531 | 184,573 | 3.71 | % | 10,351,590 | 198,505 | 3.85 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mortgage-backed securities (c) | Mortgage-backed securities (c) | 1,541,585 | 9,880 | 1.28 | % | 691,564 | 8,213 | 2.38 | % | Mortgage-backed securities (c) | 1,948,794 | 13,518 | 1.39 | % | 1,541,585 | 9,880 | 1.28 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment securities (c) (d) (includes FTE adjustments of $351 and $289, respectively) | 347,977 | 2,847 | 1.64 | % | 157,231 | 2,125 | 2.70 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment securities (c) (d) (includes FTE adjustments of $381 and $351, respectively) | Investment securities (c) (d) (includes FTE adjustments of $381 and $351, respectively) | 375,323 | 3,130 | 1.67 | % | 347,977 | 2,847 | 1.64 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FHLB stock, at cost | FHLB stock, at cost | 22,462 | 254 | 2.27 | % | 19,062 | 571 | 6.02 | % | FHLB stock, at cost | 13,648 | 163 | 2.41 | % | 22,462 | 254 | 2.27 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other interest-earning deposits | Other interest-earning deposits | 805,930 | 375 | 0.09 | % | 329,284 | 320 | 0.19 | % | Other interest-earning deposits | 1,003,627 | 2,151 | 0.43 | % | 805,930 | 375 | 0.09 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total interest-earning assets (includes FTE adjustments of $1,283 and $1,300, respectively) | 13,069,544 | 211,861 | 3.25 | % | 10,684,554 | 210,226 | 3.96 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total interest-earning assets (includes FTE adjustments of $1,206 and $1,283, respectively) | Total interest-earning assets (includes FTE adjustments of $1,206 and $1,283, respectively) | 13,370,923 | 203,535 | 3.07 | % | 13,069,544 | 211,861 | 3.25 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Noninterest-earning assets (e) | Noninterest-earning assets (e) | 1,103,734 | 1,409,247 | Noninterest-earning assets (e) | 969,111 | 1,103,734 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total assets | Total assets | $ | 14,173,278 | $ | 12,093,801 | Total assets | $ | 14,340,034 | $ | 14,173,278 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 2,187,184 | 1,215 | 0.11 | % | $ | 1,747,656 | 1,375 | 0.16 | % | Savings deposits | $ | 2,348,282 | 1,181 | 0.10 | % | $ | 2,187,184 | 1,215 | 0.11 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
Interest-bearing demand deposits | Interest-bearing demand deposits | 2,812,348 | 836 | 0.06 | % | 2,171,970 | 2,119 | 0.20 | % | Interest-bearing demand deposits | 2,866,333 | 631 | 0.04 | % | 2,812,348 | 836 | 0.06 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Money market deposit accounts | Money market deposit accounts | 2,517,673 | 1,278 | 0.10 | % | 2,061,226 | 4,688 | 0.46 | % | Money market deposit accounts | 2,660,745 | 1,321 | 0.10 | % | 2,517,673 | 1,278 | 0.10 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Time deposits | Time deposits | 1,538,489 | 6,959 | 0.91 | % | 1,645,077 | 12,557 | 1.54 | % | Time deposits | 1,256,513 | 3,959 | 0.64 | % | 1,538,489 | 6,959 | 0.91 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Borrowed funds (f) | Borrowed funds (f) | 137,488 | 303 | 0.44 | % | 305,910 | 1,005 | 0.66 | % | Borrowed funds (f) | 129,487 | 324 | 0.50 | % | 137,488 | 303 | 0.44 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Subordinated debentures | Subordinated debentures | 123,400 | 2,522 | 4.10 | % | — | — | — | % | Subordinated debentures | 121,574 | 2,454 | 4.04 | % | 123,400 | 2,522 | 4.10 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Junior subordinated debentures | Junior subordinated debentures | 128,850 | 1,278 | 1.96 | % | 124,638 | 1,875 | 2.98 | % | Junior subordinated debentures | 129,109 | 1,571 | 2.42 | % | 128,850 | 1,278 | 1.96 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total interest-bearing liabilities | Total interest-bearing liabilities | 9,445,432 | 14,391 | 0.31 | % | 8,056,477 | 23,619 | 0.59 | % | Total interest-bearing liabilities | 9,512,043 | 11,441 | 0.24 | % | 9,445,432 | 14,391 | 0.31 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Noninterest-bearing demand deposits (g) | Noninterest-bearing demand deposits (g) | 2,921,343 | 2,022,177 | Noninterest-bearing demand deposits (g) | 3,075,617 | 2,921,343 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Noninterest-bearing liabilities | Noninterest-bearing liabilities | 256,748 | 575,658 | Noninterest-bearing liabilities | 198,854 | 256,748 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total liabilities | Total liabilities | 12,623,523 | 10,654,312 | Total liabilities | 12,786,514 | 12,623,523 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shareholders’ equity | Shareholders’ equity | 1,549,755 | 1,439,489 | Shareholders’ equity | 1,553,520 | 1,549,755 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total liabilities and shareholders’ equity | Total liabilities and shareholders’ equity | $ | 14,173,278 | $ | 12,093,801 | Total liabilities and shareholders’ equity | $ | 14,340,034 | $ | 14,173,278 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net interest income/Interest rate spread | Net interest income/Interest rate spread | 197,470 | 2.94 | % | 186,607 | 3.37 | % | Net interest income/Interest rate spread | 192,094 | 2.83 | % | 197,470 | 2.94 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net interest-earning assets/Net interest margin | Net interest-earning assets/Net interest margin | $ | 3,624,112 | 3.02 | % | $ | 2,628,077 | 3.49 | % | Net interest-earning assets/Net interest margin | $ | 3,858,880 | 2.87 | % | $ | 3,624,112 | 3.02 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Ratio of interest-earning assets to interest-bearing liabilities | Ratio of interest-earning assets to interest-bearing liabilities | 1.38X | 1.33X | Ratio of interest-earning assets to interest-bearing liabilities | 1.41X | 1.38X |
For the six months ended June 30, 2021 vs. 2020 | For the six months ended June 30, 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 | $ | (17,561) | 17,069 | (492) | Loans receivable | $ | (6,914) | (7,018) | (13,932) | ||||||||||||||||||||||||
Mortgage-backed securities | Mortgage-backed securities | (3,781) | 5,448 | 1,667 | Mortgage-backed securities | 813 | 2,825 | 3,638 | ||||||||||||||||||||||||||
Investment securities | Investment securities | (839) | 1,561 | 722 | Investment securities | 55 | 228 | 283 | ||||||||||||||||||||||||||
FHLB stock, at cost | FHLB stock, at cost | (358) | 41 | (317) | FHLB stock, at cost | 16 | (107) | (91) | ||||||||||||||||||||||||||
Other interest-earning deposits | Other interest-earning deposits | (167) | 222 | 55 | Other interest-earning deposits | 1,354 | 422 | 1,776 | ||||||||||||||||||||||||||
Total interest-earning assets | Total interest-earning assets | (22,706) | 24,341 | 1,635 | Total interest-earning assets | (4,676) | (3,650) | (8,326) | ||||||||||||||||||||||||||
Interest-bearing liabilities: | Interest-bearing liabilities: | Interest-bearing liabilities: | ||||||||||||||||||||||||||||||||
Savings deposits | Savings deposits | (408) | 248 | (160) | Savings deposits | (108) | 74 | (34) | ||||||||||||||||||||||||||
Interest-bearing demand deposits | Interest-bearing demand deposits | (1,479) | 196 | (1,283) | Interest-bearing demand deposits | (212) | 7 | (205) | ||||||||||||||||||||||||||
Money market deposit accounts | Money market deposit accounts | (3,653) | 243 | (3,410) | Money market deposit accounts | (21) | 64 | 43 | ||||||||||||||||||||||||||
Time deposits | Time deposits | (5,151) | (447) | (5,598) | Time deposits | (2,073) | (927) | (3,000) | ||||||||||||||||||||||||||
Borrowed funds | Borrowed funds | (333) | (369) | (702) | Borrowed funds | 43 | (22) | 21 | ||||||||||||||||||||||||||
Subordinated debt | Subordinated debt | — | 2,522 | 2,522 | Subordinated debt | (38) | (30) | (68) | ||||||||||||||||||||||||||
Junior subordinated debentures | Junior subordinated debentures | (639) | 42 | (597) | Junior subordinated debentures | 297 | (4) | 293 | ||||||||||||||||||||||||||
Total interest-bearing liabilities | Total interest-bearing liabilities | (11,663) | 2,435 | (9,228) | Total interest-bearing liabilities | (2,112) | (838) | (2,950) | ||||||||||||||||||||||||||
Net change in net interest income | Net change in net interest income | $ | (11,043) | 21,906 | 10,863 | Net change in net interest income | $ | (2,564) | (2,812) | (5,376) |
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 | 0.2 | % | 0.1 | % | (0.1) | % | (8.0 | %) | ||||||||||||||||||||||||||||||||||
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 | 0.7 | % | 0.5 | % | 0.2 | % | (18.0 | %) | ||||||||||||||||||||||||||||||||||
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 | 0.7 | % | 0.5 | % | 0.2 | % | (17.3 | %) | ||||||||||||||||||||||||||||||||||
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 | $ | 0.01 | $ | — | $ | — | $ | (0.21) | ||||||||||||||||||||||||||||||||||
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 | (6.4 | %) | (12.9 | %) | (19.1 | %) | 2.5 | % |
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 |
Certification of the Chief Executive Officer and 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: | August 5, | By: | /s/ | ||||||||
(Duly Authorized Officer) | |||||||||||
Date: | August 5, | By: | /s/ Jeffrey | ||||||||
Jeffrey | |||||||||||
(Principal Accounting Officer) | |||||||||||