| Allowance for Loan and Lease Losses | Allowance for Loan and Lease Losses The following tables present the changes in the allowance for loan and lease losses in loans and leases by portfolio segment for the periods indicated: Three Months Ended March 31, 2021 Commercial Commercial Consumer Total (In Thousands) Balance at December 31, 2020 $ 80,132 $ 29,498 $ 4,749 $ 114,379 Charge-offs — (2,140) (3) (2,143) Recoveries — 331 52 383 (Credit) provision for loan and lease losses excluding unfunded commitments (203) (1,864) (715) (2,782) Balance at March 31, 2021 $ 79,929 $ 25,825 $ 4,083 $ 109,837 Three Months Ended March 31, 2020 Commercial Commercial Consumer Total (In Thousands) Balance at December 31, 2019 $ 30,285 $ 24,826 $ 5,971 $ 61,082 Adoption of ASU 2016-13 (CECL) 11,694 (2,672) (2,390) 6,632 Charge-offs — (2,527) (12) (2,539) Recoveries — 247 58 305 Provision for loan and lease losses 40,200 6,900 601 47,701 Balance at March 31, 2020 $ 82,179 $ 26,774 $ 4,228 $ 113,181 The allowance for credit losses for unfunded credit commitments, which is included in other liabilities, was $13.7 million and $13.1 million at March 31, 2021 and December 31, 2020, respectively. Provision for Credit Losses The provisions for credit losses are set forth below for the periods indicated: Three Months Ended March 31, 2021 2020 (In Thousands) Provision for loan and lease losses: Commercial real estate $ (203) $ 40,200 Commercial (1,864) 6,900 Consumer (715) 601 Total (credit) provision for loan and lease losses (2,782) 47,701 Unfunded commitments 635 6,413 Total (credit) provision for credit losses $ (2,147) $ 54,114 Allowance for Loan and Lease Losses Methodology Management has established a methodology to determine the adequacy of the allowance for credit losses that assesses the risks and losses expected on the loan and lease portfolio and unfunded commitments. Additions to the allowance for credit losses are made by charges to the provision for credit losses. Losses on loans and leases are charged off against the allowance when all or a portion of a loan or lease is considered uncollectible. Subsequent recoveries on loans previously charged off, if any, are credited to the allowance when realized. To calculate the allowance for loans collectively evaluated, management uses models developed by a third party. The models include: Commercial real estate ("CRE"), Commercial and industrial ("C&I"), and Retail lifetime loss rate models calculate the expected losses over the life of the loan based on exposure at default loan attributes and reasonable, supportable economic forecasts. The exposure at default considers the current unpaid balance, prepayment assumptions and utilization of expected utilization assumptions. The expected loss estimates for two small commercial portfolios and a runoff auto portfolio are based on historical loss rates. Key assumptions used in the models include portfolio segmentation, prepayments, and the expected utilization of unfunded commitments, among others. The portfolios are segmented by loan level attributes such as loan type, loan size, date of origination, and delinquency status to create homogenous loan pools. Pool level metrics are calculated and loss rates are subsequently applied to the pools as the loans have like characteristics. Prepayment assumptions are embedded within the models and are based on the same data used for model development and incorporate adjustments for reasonable and supportable forecasts. Model development data and developmental time periods vary by model, but all use at least ten years of historical data and capture at least one recessionary period. Expected utilization is based on current utilization and a loan equivalency ("LEQ") factor. LEQ varies by current utilization and provides a reasonable estimate of expected draws and borrower behavior. Assumptions and model inputs are reviewed in accordance with model monitoring practices and as information becomes availa ble . The ACL estimate incorporates reasonable and supportable forecasts of various macro-economic variables over the remaining life of loans and leases. The development of the reasonable and supportable forecast assume each macro-economic variable will revert to long-term expectations, with reversion characteristics unique to specific economic indicators and forecasts. Reversion towards long-term expectations generally begins two to three years from the forecast start date and largely completes within the first five years. Because the reasonable and supportable economic forecasts used in the models are mean reverting, the models are therefore considered to be implicitly mean reverting. Management elected to use multiple economic forecasts in determining the reserve to account for economic uncertainty. The forecasts include various projections of Gross Domestic Product ("GDP"), interest rates, property price indices, and employment measures. Scenario weighting and model parameters are reviewed for each calculation and updated to reflect facts and circumstances as of the financial statement date. The March 31, 2021 forecasts reflect the immediate and longer-term effects of the COVID-19 pandemic as well as the associated policies and fiscal support provided by local and national authorities. The CRE lifetime loss rate, C&I lifetime loss rate, and Retail lifetime loss rate models were developed using the historical loss experience of all banks in the model’s developmental dataset. Banks in the model’s developmental dataset may have different loss experiences due to geography and portfolio as well as variances in operational and underwriting procedures from the Company, and therefore, the Company calibrates expected losses using a scalar for each model. Each scalar was calculated by examining the loss rates of peer banks that have similar operations and asset bases to the Company and comparing these peer group loss rates to the model results. Peer group loss rates were used in the scalar calculation because management believes the peer group’s historical losses provide a better reflection of the Company’s current portfolio and operating procedures than the Company’s historical losses. Qualitative adjustments are also applied to the results of the three loss rate models. For March 31, 2021, management applied qualitative adjustments to the CRE lifetime loss rate, C&I lifetime loss rate, and Retail lifetime loss rate models. These adjustments addressed model limitations, were based on historical loss patterns, and targeted specific risks within the certain portfolios. A general qualitative adjustment was applied to all models to account for general economic uncertainty by placing a greater probability on negative economic forecasts as compared to previous quarters. Additional qualitative adjustments were applied to the Commercial, Multifamily, and commercial real estate (includes owner occupied, non-owner occupied, and construction) portfolios based on the Company’s historical loss experience and the loss experience of the Company’s peer group. High risk segments of the Eastern Funding and Macrolease portfolios also received additional qualitative adjustments based on recent loss history and expected liquidation values. These qualitative adjustments resulted in additions to reserves for all portfolios, as compared to the model output. Specific reserves are established for loans individually evaluated for impairment when amortized cost basis is greater than the discounted present value of expected future cash flows or, in the case of collateral-dependent loans, when there is an excess of a loan's amortized cost basis over the fair value of its underlying collateral. When loans and leases do not share risk characteristics with other financial assets they are evaluated individually. Individually evaluated loans are reviewed quarterly with adjustments made to the calculated reserve as necessary. Beginning January 1, 2020, the Company implemented the CECL methodology to calculate the allowance for credit losses. Prior to January 1, 2020, the Company calculated the allowance for loan and lease losses using the incurred losses methodology. The general allowance for loan and lease losses was $108.7 million as of March 31, 2021, compared to $112.1 million as of December 31, 2020. The reduction in the ACL is attributable to portfolio contraction, continued low level of net charge-offs, an improving macro-economic forecast, and qualitative adjustments that consider longer-term risks. The specific allowance for loan and lease losses was $1.1 million as of March 31, 2021, compared to $2.3 million as of December 31, 2020. The specific allowance decreased by $1.2 million during the three months ended March 31, 2021 primarily due to the payoff of two commercial relationship which had a specific reserve of $0.3 million, one equipment financing relationship which had a specific reserve of $0.1 million, a partial charge off on one equipment financing relationship of $0.7 million and the and the decrease in specific reserves for the remaining individually evaluated loans due to improving collection prospects. As of March 31, 2021, management believes that the methodology for calculating the allowance is sound and that the allowance provides a reasonable basis for determining and reporting on expected losses over the lifetime of the Company’s loan portfolios. Credit Quality Assessment At the time of loan origination, a rating is assigned based on the capacity to pay and general financial strength of the borrower, the value of assets pledged as collateral, and the evaluation of third party support such as a guarantor. The Company continually monitors the credit quality of the loan portfolio using all available information. The officer responsible for handling each loan is required to initiate changes to risk ratings when changes in facts and circumstances occur that warrant an upgrade or downgrade in a loan rating. Based on this information, loans demonstrating certain payment issues or other weaknesses may be categorized as delinquent, adversely risk-rated, nonperforming and/or put on nonaccrual status. Additionally, in the course of resolving such loans, the Company may choose to restructure the contractual terms of certain loans to match the borrower's ability to repay the loan based on their current financial condition. If a restructured loan meets certain criteria, it may be categorized as a troubled debt restructuring ("TDR") loan. The Company reviews numerous credit quality indicators when assessing the risk in its loan portfolio. For all loans, the Company utilizes an eight-grade loan rating system, which assigns a risk rating to each borrower based on a number of quantitative and qualitative factors associated with a loan transaction. Factors considered include industry and market conditions; position within the industry; earnings trends; operating cash flow; asset/liability values; debt capacity; guarantor strength; management and controls; financial reporting; collateral; and other considerations. In addition, the Company's independent loan review group evaluates the credit quality and related risk ratings in all loan portfolios. The results of these reviews are reported to the Risk Committee of the Board of Directors on a periodic basis and annually to the Board of Directors. For the consumer loans, the Company heavily relies on payment status for calibrating credit risk. The ratings categories used for assessing credit risk in the commercial real estate, multi-family mortgage, construction, commercial, equipment financing, condominium association and other consumer loan and lease classes are defined as follows: 1 -4 Rating—Pass Loan rating grades "1" through "4" are classified as "Pass," which indicates borrowers are performing in accordance with the terms of the loan and are less likely to result in loss due to the capacity of the borrower to pay and the adequacy of the value of assets pledged as collateral. 5 Rating—Other Assets Especially Mentioned ("OAEM") Borrowers exhibit potential credit weaknesses or downward trends deserving management's attention. If not checked or corrected, these trends will weaken the Company's asset and position. While potentially weak, currently these borrowers are marginally acceptable; no loss of principal or interest is envisioned. 6 Rating—Substandard Borrowers exhibit well defined weaknesses that jeopardize the orderly liquidation of debt. Substandard loans may be inadequately protected by the current net worth and paying capacity of the obligors or by the collateral pledged, if any. Normal repayment from the borrower is in jeopardy. Although no loss of principal is envisioned, there is a distinct possibility that a partial loss of interest and/or principal will occur if the deficiencies are not corrected. Collateral coverage may be inadequate to cover the principal obligation. 7 Rating—Doubtful Borrowers exhibit well-defined weaknesses that jeopardize the orderly liquidation of debt with the added provision that the weaknesses make collection of the debt in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Serious problems exist to the point where partial loss of principal is likely. 8 Rating—Definite Loss Borrowers deemed incapable of repayment. Loans to such borrowers are considered uncollectible and of such little value that continuation as active assets of the Company is not warranted. Assets rated as "OAEM," "substandard" or "doubtful" based on criteria established under banking regulations are collectively referred to as "criticized" assets. Credit Quality Information The following table presents the amortized cost basis of loans in each class by credit quality indicator and year of origination as of March 31, 2021. March 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Revolving Loans Converted to Term Loans Total (In Thousands) Commercial Real Estate Pass $ 80,520 $ 357,115 $ 366,961 $ 283,214 $ 252,971 $ 1,115,585 $ 55,390 $ 12,645 $ 2,524,401 OAEM 693 736 27,369 — — 35,014 — — 63,812 Substandard — 210 — — 1,617 5,139 — 61 7,027 Total 81,213 358,061 394,330 283,214 254,588 1,155,738 55,390 12,706 2,595,240 Multi-Family Mortgage Pass 14,673 124,227 145,143 165,079 99,440 416,861 5,218 27,457 998,098 OAEM — — — — — 2,376 — — 2,376 Total 14,673 124,227 145,143 165,079 99,440 419,237 5,218 27,457 1,000,474 Construction Pass 2,272 46,896 46,555 85,292 665 632 4,697 — 187,009 Substandard — — 4,853 — — 2,765 7,618 Total 2,272 46,896 51,408 85,292 665 3,397 4,697 — 194,627 Commercial March 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Revolving Loans Converted to Term Loans Total (In Thousands) Pass 237,440 451,623 55,419 37,516 35,407 129,638 226,438 1,716 1,175,197 OAEM — 1,589 4,436 — 16,242 12 1,840 — 24,119 Substandard — — — 118 345 2,902 3,716 578 7,659 Doubtful — — — — — — — 2 2 Total 237,440 453,212 59,855 37,634 51,994 132,552 231,994 2,296 1,206,977 Equipment Financing Pass 65,631 318,891 286,098 186,109 105,056 86,647 1,868 556 1,050,856 OAEM — 196 1,058 293 96 709 — — 2,352 Substandard — 1,000 2,787 5,224 3,678 2,529 — — 15,218 Doubtful — 1 450 65 27 652 — — 1,195 Total 65,631 320,088 290,393 191,691 108,857 90,537 1,868 556 1,069,621 Condominium Association Pass 187 7,409 9,206 5,194 7,385 16,769 1,172 176 47,498 Substandard — — — — — 106 — — 106 Total 187 7,409 9,206 5,194 7,385 16,875 1,172 176 47,604 Other Consumer Pass 35 852 523 1,827 31 869 32,295 15 36,447 Substandard — — — — — 1 — 1 2 Total 35 852 523 1,827 31 870 32,295 16 36,449 Total Pass 400,758 1,307,013 909,905 764,231 500,955 1,767,001 327,078 42,565 6,019,506 OAEM 693 2,521 32,863 293 16,338 38,111 1,840 — 92,659 Substandard — 1,210 7,640 5,342 5,640 13,442 3,716 640 37,630 Doubtful — 1 450 65 28 652 — 2 1,198 Total $ 401,451 $ 1,310,745 $ 950,858 $ 769,931 $ 522,961 $ 1,819,206 $ 332,634 $ 43,207 $ 6,150,993 As of March 31, 2021, there were no loans categorized as definite loss. For residential mortgage and home equity loans, the borrowers' credit scores contribute as a reserve metric in the retail loss rate model. At March 31, 2021 2021 2020 2019 2018 2017 Prior Revolving Loans Revolving Loans Converted to Term Loans Total (In Thousands) Residential Credit Scores Over 700 $ 22,650 $ 119,549 $ 89,528 $ 57,286 $ 49,514 $ 162,830 $ 4,002 $ — $ 505,359 661 - 700 3,036 24,134 18,328 10,110 13,852 30,005 — — 99,465 600 and below 682 6,914 4,700 5,053 4,234 16,956 — — 38,539 Data not available* 2,177 17,969 17,003 15,591 13,248 71,181 — 1,322 138,491 Total $ 28,545 $ 168,566 $ 129,559 $ 88,040 $ 80,848 $ 280,972 $ 4,002 $ 1,322 $ 781,854 Home Equity Credit Scores Over 700 $ 553 $ 1,534 $ 2,421 $ 2,249 $ 2,507 $ 12,331 $ 239,483 $ 2,303 $ 263,381 661 - 700 51 118 440 476 260 2,354 44,625 616 48,940 600 and below — 58 106 260 13 550 10,267 1,058 12,312 Data not available* — 68 — — — 1,318 7,719 968 10,073 Total $ 604 $ 1,778 $ 2,967 $ 2,985 $ 2,780 $ 16,553 $ 302,094 $ 4,945 $ 334,706 _______________________________________________________________________________ * Represents loans and leases for which data are not available. The following tables present the recorded investment in loans in each class as of December 31, 2020, by credit quality indicator. December 31, 2020 2020 2019 2018 2017 2016 Prior Revolving Loans Revolving Loans Converted to Term Loans Total (In Thousands) Commercial Real Estate Pass $ 352,832 $ 412,071 $ 282,629 $ 255,786 $ 243,477 $ 944,676 $ 55,392 $ 12,585 $ 2,559,448 OAEM — 477 — — 3,312 8,991 — — 12,780 Substandard — — — 1,261 2 5,220 — 62 6,545 Doubtful — — — — — — — — — Total 352,832 412,548 282,629 257,047 246,791 958,887 55,392 12,647 2,578,773 Multi-Family Mortgage Pass 125,434 136,620 162,180 103,997 127,873 304,224 15,845 34,871 1,011,044 OAEM — — — — — 2,388 — — 2,388 Total 125,434 136,620 162,180 103,997 127,873 306,612 15,845 34,871 1,013,432 Construction December 31, 2020 2020 2019 2018 2017 2016 Prior Revolving Loans Revolving Loans Converted to Term Loans Total (In Thousands) Pass 46,249 56,074 112,856 1,799 2,788 404 3,834 — 224,004 Substandard — 4,853 — — 2,764 — — — 7,617 Total 46,249 60,927 112,856 1,799 5,552 404 3,834 — 231,621 Commercial Pass 574,542 66,278 41,325 62,112 22,085 113,715 226,495 1,687 1,108,239 OAEM 310 4,850 — — 35 17 5,382 — 10,594 Substandard 80 — 129 389 29 7,612 3,930 664 12,833 Doubtful — — — — — — — 2 2 Total 574,932 71,128 41,454 62,501 22,149 121,344 235,807 2,353 1,131,668 Equipment Financing Pass 332,375 306,231 209,219 121,845 56,241 45,451 636 576 1,072,574 OAEM 196 1,066 290 93 609 85 — 2,339 Substandard 402 4,385 5,280 3,545 1,891 631 — — 16,134 Doubtful 1 64 24 27 1,292 6 — — 1,414 Total 332,974 311,746 214,813 125,510 60,033 46,173 636 576 1,092,461 Condominium Association Pass 6,455 9,918 5,399 7,928 5,213 12,682 2,684 379 50,658 Substandard — — — — 112 — — — 112 Total 6,455 9,918 5,399 7,928 5,325 12,682 2,684 379 50,770 Other Consumer Pass 694 549 1,938 32 570 301 28,755 18 32,857 Substandard — — — — — — — 2 2 Total 694 549 1,938 32 570 301 28,755 20 32,859 Total Pass 1,438,581 987,741 815,546 553,499 458,247 1,421,453 333,641 50,116 6,058,824 OAEM 506 6,393 290 93 3,956 11,481 5,382 — 28,101 Substandard 482 9,238 5,409 5,195 4,798 13,463 3,930 728 43,243 Doubtful 1 64 24 27 1,292 6 — 2 1,416 Total $ 1,439,570 $ 1,003,436 $ 821,269 $ 558,814 $ 468,293 $ 1,446,403 $ 342,953 $ 50,846 $ 6,131,584 As of December 31, 2020, there were no loans categorized as definite loss. At December 31, 2020 2020 2019 2018 2017 2016 Prior Revolving Converted Total (In Thousands) Residential Credit Scores Over 700 $ 119,566 $ 94,300 $ 62,452 $ 53,662 $ 47,327 $ 124,999 $ 4,442 $ — $ 506,748 661 - 700 21,820 19,426 10,943 15,616 8,132 23,282 — — 99,219 600 and below 6,901 5,659 4,763 4,318 4,553 13,997 — — 40,191 Data not available* 19,209 17,082 16,199 14,153 5,729 71,456 — 1,331 145,159 Total $ 167,496 $ 136,467 $ 94,357 $ 87,749 $ 65,741 $ 233,734 $ 4,442 $ 1,331 $ 791,317 Home Equity Credit Scores Over 700 $ 1,546 $ 2,832 $ 2,440 $ 2,770 $ 910 $ 12,804 $ 247,538 $ 2,397 $ 273,237 661 - 700 122 459 499 566 305 2,793 45,356 1,334 51,434 600 and below 59 108 266 13 39 541 10,139 878 12,043 Data not available* 61 — — — — 1,387 7,330 1,160 9,938 Total $ 1,788 $ 3,399 $ 3,205 $ 3,349 $ 1,254 $ 17,525 $ 310,363 $ 5,769 $ 346,652 Age Analysis of Past Due Loans and Leases The following table presents an age analysis of the amortized cost basis in loans and leases as of March 31, 2021. At March 31, 2021 Past Due Past 31-60 61-90 Greater Total Current Total Loans Non-accrual Non-accrual (In Thousands) Commercial real estate loans: Commercial real estate $ 5,489 $ 3,946 $ 3,366 $ 12,801 $ 2,582,439 $ 2,595,240 $ — $ 3,611 $ 2,902 Multi-family mortgage 1,141 — — 1,141 999,333 1,000,474 — — — Construction 3,764 — 3,853 7,617 187,010 194,627 — 3,853 3,853 Total commercial real estate loans 10,394 3,946 7,219 21,559 3,768,782 3,790,341 — 7,464 6,755 Commercial loans and leases: Commercial 229 — 1,213 1,442 1,205,535 1,206,977 62 3,161 1,882 Equipment financing 4,010 2,115 9,501 15,626 1,053,995 1,069,621 1,113 15,772 4,260 Condominium association — — — — 47,604 47,604 — 106 106 Total commercial loans and leases 4,239 2,115 10,714 17,068 2,307,134 2,324,202 1,175 19,039 6,248 Consumer loans: Residential mortgage 1,979 459 3,254 5,692 776,162 781,854 — 3,722 3,260 Home equity 1,056 1 531 1,588 333,118 334,706 4 792 557 Other consumer 12 1 1 14 36,435 36,449 — 2 — Total consumer loans 3,047 461 3,786 7,294 1,145,715 1,153,009 4 4,516 3,817 Total loans and leases $ 17,680 $ 6,522 $ 21,719 $ 45,921 $ 7,221,631 $ 7,267,552 $ 1,179 $ 31,019 $ 16,820 There is no interest income recognized on non-accrual loans for the three months ended March 31, 2021. The following tables present an age analysis of the recorded investment in originated and acquired loans and leases as of December 31, 2020. At December 31, 2020 Past Due Loans and Non-accrual 31-60 61-90 Greater Total Current Total Loans Non-accrual (In Thousands) Commercial real estate loans: Commercial real estate $ 18,294 $ 12,402 $ 7,272 $ 37,968 $ 2,540,805 $ 2,578,773 $ 4,722 $ 3,300 $ 2,580 Multi-family mortgage 813 — — 813 1,012,619 1,013,432 — — — Construction — — 7,617 7,617 224,004 231,621 3,764 3,853 3,853 Total commercial real estate loans 19,107 12,402 14,889 46,398 3,777,428 3,823,826 8,486 7,153 6,433 Commercial loans and leases: Commercial 451 304 9,171 9,926 1,121,742 1,131,668 3,486 7,702 6,263 Equipment financing 5,970 2,263 9,391 17,624 1,074,837 1,092,461 — 16,757 4,062 Condominium association 282 297 — 579 50,191 50,770 — 112 112 Total commercial loans and leases 6,703 2,864 18,562 28,129 2,246,770 2,274,899 3,486 24,571 10,437 Consumer loans: Residential mortgage 2,161 648 3,841 6,650 784,667 791,317 — 5,587 5,117 Home equity 580 215 588 1,383 345,269 346,652 3 1,136 824 Other consumer 13 — 1 14 32,845 32,859 — 1 — Total consumer loans 2,754 863 4,430 8,047 1,162,781 1,170,828 3 6,724 5,941 Total loans and leases $ 28,564 $ 16,129 $ 37,881 $ 82,574 $ 7,186,979 $ 7,269,553 $ 11,975 $ 38,448 $ 22,811 Impaired Loans and Leases A loan is considered to be impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due (both interest and principal) according to the contractual terms of the loan agreement. The loans and leases risk-rated "substandard" or worse are considered impaired. The Company has also defined the population of impaired loans to include nonaccrual loans and TDR loans. Impaired loans and leases which do not share similar risk characteristics with other loans are individually evaluated for credit losses. Specific reserves are established for loans and leases with deterioration in the present value of expected future cash flows or, in the case of collateral-dependent loans and leases, any increase in the loan or lease amortized cost basis over the fair value of the underlying collateral discounted for estimated selling costs. In contrast, the loans and leases which share similar risk characteristics and are not included in the individually evaluated population are collectively evaluated for credit losses. The following tables present information regarding individually evaluated and collectively evaluated allowance for loan and lease losses for credit losses on loans and leases at the dates indicated. Periods prior to January 1, 2020 are presented in accordance with accounting rules effective at that time. At March 31, 2021 Commercial Real Estate Commercial Consumer Total (In Thousands) Allowance for Loan and Lease Losses: Individually evaluated $ 132 $ 907 $ 94 $ 1,133 Collectively evaluated 79,797 24,918 3,989 108,704 Total $ 79,929 $ 25,825 $ 4,083 $ 109,837 Loans and Leases: Individually evaluated $ 14,927 $ 20,198 $ 6,414 $ 41,539 Collectively evaluated 3,775,414 2,304,004 1,146,595 7,226,013 Total $ 3,790,341 $ 2,324,202 $ 1,153,009 $ 7,267,552 At December 31, 2020 Commercial Real Estate Commercial Consumer Total (In Thousands) Allowance for Loan and Lease Losses: Individually evaluated $ 183 $ 2,020 $ 108 $ 2,311 Collectively evaluated 79,949 27,478 4,641 112,068 Total loans and leases $ 80,132 $ 29,498 $ 4,749 $ 114,379 Loans and Leases: Individually evaluated $ 14,159 $ 24,727 $ 8,760 $ 47,646 Collectively evaluated 3,809,667 2,250,172 1,162,068 7,221,907 Total loans and leases $ 3,823,826 $ 2,274,899 $ 1,170,828 $ 7,269,553 Troubled Debt Restructuring Loans and Leases The following table sets forth information regarding TDR loans and leases at the dates indicated: At March 31, 2021 At December 31, 2020 (In Thousands) Troubled debt restructurings: On accrual $ 16,770 $ 11,483 On nonaccrual 6,293 7,476 Total troubled debt restructurings $ 23,063 $ 18,959 Total TDR loans and leases increased by $4.1 million to $23.1 million at March 31, 2021 from $19.0 million at December 31, 2020, primarily driven by two new TDR relationships, consisting of one $3.7 million construction relationship and one $1.3 million equipment financing relationship, partially offset by the payoff of one TDR relationship during the three months ended March 31, 2021. The amortized cost basis in TDR loans and the associated specific credit losses for the loan and lease portfolios, that were modified during the periods indicated, are as follows. At and for the Three Months Ended March 31, 2021 Amortized Cost Specific Defaulted (1) Number of At At End of Nonaccrual Number of Amortized Cost (Dollars in Thousands) Commercial real estate 1 $ 497 $ 497 — — — — Construction 4 2,764 2,764 Equipment financing 12 1,718 1,731 — 234 — — Total loans and leases 17 $ 4,979 $ 4,992 $ — $ 234 $ — $ — ______________________________________________________________________ (1) Includes loans and leases that have been modified within the past twelve months and subsequently had payment defaults during the period indicated. At and for the Three Months Ended March 31, 2020 Recorded Investment Specific Defaulted (1) Number of At At End of Nonaccrual Number of Recorded (Dollars in Thousands) Commercial real estate — — — — 1 228 Commercial 1 297 295 — 295 — — Equipment financing 2 200 200 — — — — Total loans and leases 3 $ 497 $ 495 $ — $ 295 1 $ 228 ______________________________________________________________________ (1) Includes loans and leases that have been modified within the past twelve months and subsequently had payment defaults during the period indicated. The following table sets forth the Company's end-of-period amortized cost basis for TDRs that were modified during the periods indicated, by type of modification. Three Months Ended March 31, 2021 2020 (In Thousands) Extended maturity $ 4,300 $ 295 Combination maturity, principal, interest rate 693 200 Total $ 4,993 $ 495 The TDR loans and leases that were modified for the three months ended March 31, 2021 and 2020 were $5.0 million and $0.5 million, respectively. The increases in TDR loans and leases that were modified for the three months ended March 31, 2021 were primarily due to the modification of two construction relationships totaling $2.7 million and five equipment finance relationships totaling $1.7 million during the three months ended March 31, 2020. The net charge-offs for performing and nonperforming TDR loans and leases for the three months ended March 31, 2021 and 2020 were $0.6 million and $0.1 million, respectively. The commitments to lend funds to debtors owing receivables whose terms had been modified in TDRs as of March 31, 2021 was $2.1 million. As of March 31, 2020, there were $2.3 million commitments to lend funds to debtors owing receivables whose terms had been modified in TDRs. The Coronavirus Aid, Relief and Economic Security ("CARES") Act and regulatory guidance issued by the Federal banking agencies provides that certain short-term loan modifications to borrowers experiencing financial distress as a result of the economic impacts created by the COVID-19 pandemic are not required to be treated as TDRs under GAAP. As such, the Company suspended TDR accounting for COVID-19 pandemic related loan modifications meeting the loan modification criteria set forth under the CARES Act or as specified in the regulatory guidance. Further, loans granted payment deferrals related to the COVID-19 pandemic are not required to be reported as past due or placed on non-accrual status (provided the loans were not past due or on non-accrual status prior to the deferral). As of March 31, 2021, the Company granted 4,603 short-term deferments on loan and lease balances of $1.1 billion of which 4,262 loans and leases representing balances $955.6 million returned to payment and 341 loans and leases representing balances of $125.7 million remain in deferment. The outstanding deferred loans and leases represent 1.7% of the Company's total loan and lease balances. |
