Cover Page
Cover Page - shares | 9 Months Ended | |
Sep. 30, 2022 | Oct. 27, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2022 | |
Document Transition Report | false | |
Entity File Number | 001-34624 | |
Entity Registrant Name | Umpqua Holdings Corporation | |
Entity Incorporation, State or Country Code | OR | |
Entity Tax Identification Number | 93-1261319 | |
Entity Address, Address Line One | One SW Columbia Street | |
Entity Address, Address Line Two | Suite 1400 | |
Entity Address, City or Town | Portland | |
Entity Address, State or Province | OR | |
Entity Address, Postal Zip Code | 97204 | |
City Area Code | 503 | |
Local Phone Number | 727-4100 | |
Title of 12(b) Security | Common Stock | |
Trading Symbol | UMPQ | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 217,053,322 | |
Entity Central Index Key | 0001077771 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
ASSETS | ||
Cash and due from banks (restricted cash of $13,813 and $3,593) | $ 321,447 | $ 222,015 |
Interest bearing cash and temporary investments (restricted cash of $13,410 and $400) | 1,232,412 | 2,539,606 |
Total cash and cash equivalents | 1,553,859 | 2,761,621 |
Investment securities | ||
Equity and other, at fair value | 72,277 | 81,214 |
Available for sale, at fair value | 3,136,391 | 3,870,435 |
Held to maturity, at amortized cost | 2,547 | 2,744 |
Loans held for sale, at fair value | 148,275 | 353,105 |
Loans and leases (at fair value: $284,900 and $345,634) | 25,507,951 | 22,553,180 |
Allowance for credit losses on loans and leases | (283,065) | (248,412) |
Net loans and leases | 25,224,886 | 22,304,768 |
Restricted equity securities | 40,993 | 10,916 |
Premises and equipment, net | 165,305 | 171,125 |
Operating lease right-of-use assets | 81,729 | 82,366 |
Other intangible assets, net | 5,764 | 8,840 |
Residential mortgage servicing rights, at fair value | 196,177 | 123,615 |
Bank owned life insurance | 329,699 | 327,745 |
Deferred tax asset, net | 128,120 | 0 |
Other assets | 385,938 | 542,442 |
Total assets | 31,471,960 | 30,640,936 |
Deposits | ||
Non-interest bearing | 11,246,358 | 11,023,724 |
Interest bearing | 15,570,749 | 15,570,961 |
Total deposits | 26,817,107 | 26,594,685 |
Securities sold under agreements to repurchase | 383,569 | 492,247 |
Borrowings | 756,214 | 6,329 |
Junior subordinated debentures, at fair value | 325,744 | 293,081 |
Junior subordinated debentures, at amortized cost | 87,870 | 88,041 |
Operating lease liabilities | 95,512 | 95,427 |
Deferred tax liability, net | 0 | 4,353 |
Other liabilities | 588,430 | 317,503 |
Total liabilities | 29,054,446 | 27,891,666 |
COMMITMENTS AND CONTINGENCIES (NOTE 6) | ||
SHAREHOLDERS' EQUITY | ||
Common stock, no par value, shares authorized: 400,000,000 in 2022 and 2021; issued and outstanding: 217,052,952 in 2022 and 216,625,506 in 2021 | 3,448,007 | 3,444,849 |
Accumulated deficit | (580,933) | (697,338) |
Accumulated other comprehensive (loss) income | (449,560) | 1,759 |
Total shareholders' equity | 2,417,514 | 2,749,270 |
Total liabilities and shareholders' equity | $ 31,471,960 | $ 30,640,936 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Restricted cash | $ 13,813 | $ 3,593 |
Restricted Cash and Cash Equivalents | 13,410 | 400 |
Loans and leases, at fair value | $ 284,900 | $ 345,634 |
Common stock, shares outstanding | 217,052,952 | 216,625,506 |
Common stock, shares issued | 217,052,952 | 216,625,506 |
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized | 400,000,000 | 400,000,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
INTEREST INCOME | ||||
Interest and fees on loans and leases | $ 278,830 | $ 224,403 | $ 727,908 | $ 669,014 |
Interest and dividends on investment securities: | ||||
Taxable | 18,175 | 16,102 | 54,156 | 43,833 |
Exempt from federal income tax | 1,322 | 1,470 | 4,063 | 4,491 |
Dividends | 86 | 213 | 256 | 1,216 |
Interest on temporary investments and interest bearing deposits | 5,115 | 1,237 | 9,387 | 2,635 |
Total interest income | 303,528 | 243,425 | 795,770 | 721,189 |
INTEREST EXPENSE | ||||
Interest on deposits | 9,090 | 5,100 | 17,021 | 22,794 |
Interest on securities sold under agreement to repurchase and federal funds purchased | 545 | 88 | 674 | 232 |
Interest on borrowings | 798 | 149 | 897 | 2,787 |
Interest on junior subordinated debentures | 5,491 | 3,014 | 12,641 | 9,108 |
Total interest expense | 15,924 | 8,351 | 31,233 | 34,921 |
Net interest income | 287,604 | 235,074 | 764,537 | 686,268 |
PROVISION (RECAPTURE) FOR CREDIT LOSSES | 27,572 | (18,919) | 51,068 | (41,915) |
Net interest income after provision (recapture) for credit losses | 260,032 | 253,993 | 713,469 | 728,183 |
NON-INTEREST INCOME | ||||
Residential mortgage banking revenue, net | 17,341 | 34,150 | 108,671 | 143,626 |
Gain on sale of debt securities, net | 0 | 0 | 2 | 4 |
Loss on equity securities, net | (2,647) | (343) | (7,383) | (1,045) |
Gain on loan and lease sales, net | 1,525 | 4,208 | 5,165 | 10,899 |
Bank owned life insurance income | 2,023 | 2,038 | 6,220 | 6,201 |
Noninterest Income, Other Operating Income | (10,571) | 13,569 | (12,670) | 51,157 |
Total non-interest income | 29,445 | 73,705 | 164,649 | 273,580 |
NON-INTEREST EXPENSE | ||||
Salaries and employee benefits | 109,164 | 117,636 | 333,244 | 363,343 |
Occupancy and equipment, net | 35,042 | 33,944 | 104,430 | 103,236 |
Communications | 2,542 | 2,866 | 7,881 | 8,633 |
Marketing | 1,505 | 1,651 | 5,552 | 5,077 |
Services | 13,355 | 12,017 | 39,094 | 36,279 |
FDIC assessments | 3,007 | 2,136 | 10,477 | 6,342 |
Intangible amortization | 1,025 | 1,130 | 3,076 | 3,390 |
Merger related expenses | 769 | 0 | 5,719 | 0 |
Other expenses | 11,555 | 12,373 | 30,495 | 34,445 |
Total non-interest expense | 177,964 | 183,753 | 539,968 | 560,745 |
Income before provision for income taxes | 111,513 | 143,945 | 338,150 | 441,018 |
Provision for income taxes | 27,473 | 35,879 | 84,362 | 109,072 |
Net income | $ 84,040 | $ 108,066 | $ 253,788 | $ 331,946 |
Earnings per common share: | ||||
Basic (in dollars per share) | $ 0.39 | $ 0.49 | $ 1.17 | $ 1.51 |
Diluted (in dollars per share) | $ 0.39 | $ 0.49 | $ 1.17 | $ 1.51 |
Weighted average number of common shares outstanding: | ||||
Basic (in shares) | 217,051 | 218,416 | 216,955 | 219,791 |
Diluted (in shares) | 217,386 | 218,978 | 217,353 | 220,278 |
Service charges on deposits | ||||
NON-INTEREST INCOME | ||||
Revenue from contract with customer | $ 12,632 | $ 10,941 | $ 36,226 | $ 30,898 |
Card-based Fees | ||||
NON-INTEREST INCOME | ||||
Revenue from contract with customer | 9,115 | 9,111 | 28,353 | 26,759 |
Brokerage revenue | ||||
NON-INTEREST INCOME | ||||
Revenue from contract with customer | $ 27 | $ 31 | $ 65 | $ 5,081 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 84,040 | $ 108,066 | $ 253,788 | $ 331,946 |
Available for sale securities: | ||||
Unrealized losses arising during the period | (186,336) | (29,009) | (575,781) | (93,533) |
Income tax benefit related to unrealized losses | 47,926 | 7,463 | 148,091 | 24,058 |
Reclassification adjustment for net realized gains in earnings | 0 | 0 | (2) | (4) |
Income tax expense related to realized gains | 0 | 0 | 1 | 1 |
Net change in unrealized losses for available for sale securities | (138,410) | (21,546) | (427,691) | (69,478) |
Junior subordinated debentures, at fair value: | ||||
Unrealized losses arising during the period | (4,043) | (11,946) | (31,810) | (44,504) |
Income tax benefit related to unrealized losses | 1,040 | 3,072 | 8,182 | 11,446 |
Net change in unrealized losses for junior subordinated debentures, at fair value | (3,003) | (8,874) | (23,628) | (33,058) |
Other comprehensive loss, net of tax | (141,413) | (30,420) | (451,319) | (102,536) |
Comprehensive (loss) income | $ (57,373) | $ 77,646 | $ (197,531) | $ 229,410 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes In Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | Common Stock | Retained Earnings (Accumulated Deficit) | Accumulated Other Comprehensive Income (Loss) |
Beginning balance (in shares) at Dec. 31, 2020 | 220,226,335 | |||
Beginning balance at Dec. 31, 2020 | $ 2,704,577 | $ 3,514,599 | $ (932,767) | $ 122,745 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income | 107,737 | 107,737 | ||
Other comprehensive income (loss), net of tax | (84,613) | (84,613) | ||
Stock-based compensation | 2,964 | $ 2,964 | ||
Stock repurchased and retired (in shares) | (143,832) | |||
Stock repurchased and retired | (2,315) | $ (2,315) | ||
Issuances of common stock under stock plans (in shares) | 408,700 | |||
Issuances of common stock under stock plans | 0 | $ 0 | ||
Cash dividends on common stock | (46,481) | (46,481) | ||
Ending balance (in shares) at Mar. 31, 2021 | 220,491,203 | |||
Ending balance at Mar. 31, 2021 | 2,681,869 | $ 3,515,248 | (871,511) | 38,132 |
Beginning balance (in shares) at Dec. 31, 2020 | 220,226,335 | |||
Beginning balance at Dec. 31, 2020 | 2,704,577 | $ 3,514,599 | (932,767) | 122,745 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income | 331,946 | |||
Other comprehensive income (loss), net of tax | (102,536) | |||
Ending balance (in shares) at Sep. 30, 2021 | 216,621,803 | |||
Ending balance at Sep. 30, 2021 | 2,722,379 | $ 3,442,085 | (739,915) | 20,209 |
Beginning balance (in shares) at Mar. 31, 2021 | 220,491,203 | |||
Beginning balance at Mar. 31, 2021 | 2,681,869 | $ 3,515,248 | (871,511) | 38,132 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income | 116,143 | 116,143 | ||
Other comprehensive income (loss), net of tax | 12,497 | 12,497 | ||
Stock-based compensation | 2,377 | $ 2,377 | ||
Stock repurchased and retired (in shares) | (957) | |||
Stock repurchased and retired | (18) | $ (18) | ||
Issuances of common stock under stock plans (in shares) | 136,206 | |||
Issuances of common stock under stock plans | 34 | $ 34 | ||
Cash dividends on common stock | (46,586) | (46,586) | ||
Ending balance (in shares) at Jun. 30, 2021 | 220,626,452 | |||
Ending balance at Jun. 30, 2021 | 2,766,316 | $ 3,517,641 | (801,954) | 50,629 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income | 108,066 | 108,066 | ||
Other comprehensive income (loss), net of tax | (30,420) | (30,420) | ||
Stock-based compensation | 2,765 | $ 2,765 | ||
Stock repurchased and retired (in shares) | (4,011,808) | |||
Stock repurchased and retired | (78,321) | $ (78,321) | ||
Issuances of common stock under stock plans (in shares) | 7,159 | |||
Issuances of common stock under stock plans | 0 | $ 0 | ||
Cash dividends on common stock | (46,027) | (46,027) | ||
Ending balance (in shares) at Sep. 30, 2021 | 216,621,803 | |||
Ending balance at Sep. 30, 2021 | 2,722,379 | $ 3,442,085 | (739,915) | 20,209 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income | 88,354 | 88,354 | ||
Other comprehensive income (loss), net of tax | (18,450) | (18,450) | ||
Stock-based compensation | 2,800 | $ 2,800 | ||
Stock repurchased and retired (in shares) | (1,790) | |||
Stock repurchased and retired | (36) | $ (36) | ||
Issuances of common stock under stock plans (in shares) | 5,493 | |||
Issuances of common stock under stock plans | 0 | $ 0 | ||
Cash dividends on common stock | $ (45,777) | (45,777) | ||
Ending balance (in shares) at Dec. 31, 2021 | 216,625,506 | 216,625,506 | ||
Ending balance at Dec. 31, 2021 | $ 2,749,270 | $ 3,444,849 | (697,338) | 1,759 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income | 91,157 | 91,157 | ||
Other comprehensive income (loss), net of tax | (185,515) | (185,515) | ||
Stock-based compensation | 2,454 | $ 2,454 | ||
Stock repurchased and retired (in shares) | (194,792) | |||
Stock repurchased and retired | (4,037) | $ (4,037) | ||
Issuances of common stock under stock plans (in shares) | 536,157 | |||
Issuances of common stock under stock plans | 0 | $ 0 | ||
Cash dividends on common stock | (45,731) | (45,731) | ||
Ending balance (in shares) at Mar. 31, 2022 | 216,966,871 | |||
Ending balance at Mar. 31, 2022 | $ 2,607,598 | $ 3,443,266 | (651,912) | (183,756) |
Beginning balance (in shares) at Dec. 31, 2021 | 216,625,506 | 216,625,506 | ||
Beginning balance at Dec. 31, 2021 | $ 2,749,270 | $ 3,444,849 | (697,338) | 1,759 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income | 253,788 | |||
Other comprehensive income (loss), net of tax | $ (451,319) | |||
Ending balance (in shares) at Sep. 30, 2022 | 217,052,952 | 217,052,952 | ||
Ending balance at Sep. 30, 2022 | $ 2,417,514 | $ 3,448,007 | (580,933) | (449,560) |
Beginning balance (in shares) at Mar. 31, 2022 | 216,966,871 | |||
Beginning balance at Mar. 31, 2022 | 2,607,598 | $ 3,443,266 | (651,912) | (183,756) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income | 78,591 | 78,591 | ||
Other comprehensive income (loss), net of tax | (124,391) | (124,391) | ||
Stock-based compensation | 2,283 | $ 2,283 | ||
Stock repurchased and retired (in shares) | (4,267) | |||
Stock repurchased and retired | (72) | $ (72) | ||
Issuances of common stock under stock plans (in shares) | 86,363 | |||
Issuances of common stock under stock plans | 54 | $ 54 | ||
Cash dividends on common stock | (45,787) | (45,787) | ||
Ending balance (in shares) at Jun. 30, 2022 | 217,048,967 | |||
Ending balance at Jun. 30, 2022 | 2,518,276 | $ 3,445,531 | (619,108) | (308,147) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income | 84,040 | 84,040 | ||
Other comprehensive income (loss), net of tax | (141,413) | (141,413) | ||
Stock-based compensation | 2,517 | $ 2,517 | ||
Stock repurchased and retired (in shares) | (2,348) | |||
Stock repurchased and retired | (41) | $ (41) | ||
Issuances of common stock under stock plans (in shares) | 6,333 | |||
Issuances of common stock under stock plans | 0 | $ 0 | ||
Cash dividends on common stock | $ (45,865) | (45,865) | ||
Ending balance (in shares) at Sep. 30, 2022 | 217,052,952 | 217,052,952 | ||
Ending balance at Sep. 30, 2022 | $ 2,417,514 | $ 3,448,007 | $ (580,933) | $ (449,560) |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Changes In Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | ||||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | |
Statement of Stockholders' Equity [Abstract] | |||||||
Cash dividends on common stock (in dollars per share) | $ 0.21 | $ 0.21 | $ 0.21 | $ 0.21 | $ 0.21 | $ 0.21 | $ 0.21 |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 253,788 | $ 331,946 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Amortization of investment premiums, net | 5,089 | 10,934 |
Gain on sale of investment securities, net | (2) | (4) |
Provision (recapture) for credit losses | 51,068 | (41,915) |
Change in cash surrender value of bank owned life insurance | (6,293) | (6,302) |
Depreciation, amortization and accretion | 21,560 | 23,492 |
(Gain) loss on sale of premises and equipment | (2,203) | 436 |
Additions to residential mortgage servicing rights carried at fair value | (20,397) | (30,845) |
Change in fair value of residential mortgage servicing rights carried at fair value | (52,165) | 17,918 |
Stock-based compensation | 7,254 | 8,106 |
Net decrease in equity and other investments | 1,554 | 457 |
Loss on equity securities, net | 7,383 | 1,045 |
Loss (gain) on sale of loans and leases, net | 207 | (124,764) |
Change in fair value of loans held for sale | 14,616 | 21,727 |
Origination of loans held for sale | (1,622,633) | (3,875,836) |
Proceeds from sales of loans held for sale | 1,793,676 | 4,065,846 |
Change in other assets and liabilities: | ||
Net decrease in other assets | 203,802 | 161,119 |
Net increase (decrease) in other liabilities | 248,362 | (21,816) |
Net cash provided by operating activities | 904,666 | 541,544 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchases of investment securities available for sale | (175,656) | (1,473,840) |
Proceeds from investment securities available for sale | 328,685 | 578,240 |
Purchases of restricted equity securities | 164,344 | 34 |
Redemption of restricted equity securities | 134,267 | 30,754 |
Net change in loans and leases | (3,064,741) | (85,539) |
Proceeds from sales of loans and leases | 111,584 | 182,605 |
Change in premises and equipment | (11,259) | (13,121) |
Proceeds from bank owned life insurance death benefits | 4,069 | 3,401 |
Net cash received from sale of Umpqua Investments, Inc. | 0 | 10,781 |
Other | 1,997 | 1,879 |
Net cash used in investing activities | (2,835,398) | (764,874) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Net increase in deposit liabilities | 222,437 | 2,286,225 |
Net (decrease) increase in securities sold under agreements to repurchase | (108,678) | 92,376 |
Proceeds from borrowings | 750,000 | 0 |
Repayment of borrowings | 0 | (765,000) |
Net proceeds from issuance of common stock | 54 | 34 |
Dividends paid on common stock | (136,693) | (138,243) |
Repurchase and retirement of common stock | (4,150) | (80,654) |
Net cash provided by financing activities | 722,970 | 1,394,738 |
Net (decrease) increase in cash and cash equivalents | (1,207,762) | 1,171,408 |
Cash and cash equivalents, beginning of period | 2,761,621 | 2,573,181 |
Cash and cash equivalents, end of period | 1,553,859 | 3,744,589 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Interest | 33,154 | 35,085 |
Income taxes | 44,174 | 81,482 |
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES: | ||
Changes in unrealized gains and losses on investment securities available for sale, net of taxes | (427,691) | (69,478) |
Changes in unrealized gains and losses on junior subordinated debentures carried at fair value, net of taxes | (23,628) | (33,058) |
Transfer of loans held for sale to loans held for investment | $ 13,799 | $ 315,887 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies The accounting and financial reporting policies of Umpqua Holdings Corporation conform to accounting principles generally accepted in the United States of America. All references in this report to "Umpqua," "we," "our," or "us" or similar references mean the Company and include our consolidated subsidiaries where the context so requires. FinPac is the Bank's wholly-owned subsidiary, a commercial equipment leasing company. The accompanying interim condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, and the Bank's wholly-owned subsidiaries. All inter-company balances and transactions have been eliminated. The condensed consolidated financial statements have not been audited. A more detailed description of the Company's accounting policies is included in the 2021 Annual Report filed on Form 10-K. These interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes contained in the 2021 Annual Report filed on Form 10-K. In preparing these condensed consolidated financial statements, the Company has evaluated events and transactions subsequent to September 30, 2022, for potential recognition or disclosure. In management's opinion, all accounting adjustments necessary to accurately reflect the financial position and results of operations on the accompanying financial statements have been made. These adjustments include normal and recurring accruals considered necessary for a fair and accurate presentation. The results for interim periods are not necessarily indicative of results for the full year or any other interim period. Application of new accounting guidance In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . This ASU was issued to provide temporary optional guidance to ease the potential burden in accounting for reference rate reform. The guidance provides optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference London Inter-Bank Offered Rate or another reference rate expected to be discontinued. The guidance further provides an expedient of a one-time election to sell or transfer debt securities classified as held to maturity. The expedients are in effect from March 12, 2020, through December 31, 2022. In January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848): Scope . The amendments in this ASU are elective and apply to all entities that have derivative instruments that use an interest rate for margining, discounting, or contract price alignment that is modified as a result of reference rate reform. The amendments clarify certain optional expedients and exceptions in Topic 848 for contract modifications. The amendments are in effect from March 12, 2020, through December 31, 2022. This ASU does not have a material impact on the Company's consolidated financial statements. The Company has an enterprise-wide LIBOR transition program which includes business strategy, product design and pricing strategy, instrument contract remediation, and systems and processes. The Company continues to use the expedients in the Topic 848 guidance to manage through the LIBOR transition, specifically for our loan portfolio. Umpqua has stopped originating new instruments using LIBOR, and consistent with regulatory guidance, Umpqua has stopped extensions of, or any increase in exposure in, current LIBOR instruments. Recent accounting pronouncements In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers . The amendments in this ASU improve comparability for both the recognition and measurement of acquired revenue contracts with customers at the date of and after a business combination. The ASU specifies for all acquired revenue contracts regardless of their timing of payment (1) the circumstances in which the acquirer should recognize contract assets and contract liabilities that are acquired in a business combination and (2) how to measure those contract assets and contract liabilities. The amendments improve comparability after the business combination by providing consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination and revenue contracts with customers not acquired in a business combination. The ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022, with early adoption permitted. The guidance is applicable and the Company will apply the amendments prospectively to business combinations occurring on or after the effective date. This standard is not expected to have a material impact on the Company’s consolidated financial statements. In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures . The ASU addresses areas identified by the FASB as part of its post-implementation review of the credit losses standard (ASU 2016-13) that introduced the CECL model. The amendments eliminate the accounting guidance for troubled debt restructurings by creditors that have adopted CECL and enhance the disclosure requirements for loan refinancings and restructurings made with borrowers experiencing financial difficulty. In addition, the amendments require a public business entity to disclose current-period gross write-offs for financing receivables and net investment in leases by year of origination in the vintage disclosures. As the Company has adopted CECL, ASU No. 2022-02 will be effective for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company is currently evaluating the impact of this ASU on the Company's consolidated financial statements. In June 2022, the FASB issued ASU No. 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. |
Investment Securities
Investment Securities | 9 Months Ended |
Sep. 30, 2022 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Investment Securities The following tables present the amortized cost, unrealized gains, unrealized losses and approximate fair values of debt securities as of September 30, 2022 and December 31, 2021: September 30, 2022 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value Available for sale: U.S. Treasury and agencies $ 935,469 $ — $ (104,656) $ 830,813 Obligations of states and political subdivisions 304,585 80 (34,761) 269,904 Mortgage-backed securities and collateralized mortgage obligations 2,466,040 1 (430,367) 2,035,674 Total available for sale securities $ 3,706,094 $ 81 $ (569,784) $ 3,136,391 Held to maturity: Mortgage-backed securities and collateralized mortgage obligations $ 2,547 $ 740 $ — $ 3,287 Total held to maturity securities $ 2,547 $ 740 $ — $ 3,287 December 31, 2021 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value Available for sale: U.S. Treasury and agencies $ 894,969 $ 27,279 $ (4,195) $ 918,053 Obligations of states and political subdivisions 320,338 11,734 (1,288) 330,784 Mortgage-backed securities and collateralized mortgage obligations 2,649,048 19,093 (46,543) 2,621,598 Total available for sale securities $ 3,864,355 $ 58,106 $ (52,026) $ 3,870,435 Held to maturity: Mortgage-backed securities and collateralized mortgage obligations $ 2,744 $ 770 $ — $ 3,514 Total held to maturity securities $ 2,744 $ 770 $ — $ 3,514 The Company elected to exclude accrued interest receivable from the amortized cost basis of debt securities disclosed throughout this note. Interest accrued on investment securities totaled $12.3 million and $10.4 million as of September 30, 2022 and December 31, 2021, respectively, and is included in Other Assets . Debt securities that were in an unrealized loss position as of September 30, 2022 and December 31, 2021 are presented in the following tables, based on the length of time individual securities have been in an unrealized loss position. September 30, 2022 Less than 12 Months 12 Months or Longer Total (in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Available for sale: U.S. Treasury and agencies $ 714,139 $ 81,728 $ 116,674 $ 22,928 $ 830,813 $ 104,656 Obligations of states and political subdivisions 224,486 24,966 31,605 9,795 256,091 34,761 Mortgage-backed securities and collateralized mortgage obligations 970,093 142,645 1,065,483 287,722 2,035,576 430,367 Total temporarily impaired securities $ 1,908,718 $ 249,339 $ 1,213,762 $ 320,445 $ 3,122,480 $ 569,784 December 31, 2021 Less than 12 Months 12 Months or Longer Total (in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Available for sale: U.S. Treasury and agencies $ 197,529 $ 2,749 $ 28,378 $ 1,446 $ 225,907 $ 4,195 Obligations of states and political subdivisions 75,200 1,153 2,162 135 77,362 1,288 Mortgage-backed securities and collateralized mortgage obligations 1,777,288 40,579 129,943 5,964 1,907,231 46,543 Total temporarily impaired securities $ 2,050,017 $ 44,481 $ 160,483 $ 7,545 $ 2,210,500 $ 52,026 These unrealized losses on the debt securities held by the Company were caused by changes in market interest rates or the widening of market spreads subsequent to the initial purchase of these securities and are not due to the underlying credit of the issuers. Management monitors the published credit ratings of the issuers of the debt securities for material rating or outlook changes. Substantially all of the Company's obligations of states and political subdivisions are general obligation issuances. All of the available for sale mortgage-backed securities and collateralized mortgage obligations portfolio in an unrealized loss position at September 30, 2022 are issued or guaranteed by government sponsored enterprises. Because the decline in fair value of the debt securities is attributable to changes in interest rates or widening market spreads and not credit quality, these investments do not have an allowance for credit losses at September 30, 2022. The following table presents the contractual maturities of debt securities at September 30, 2022: Available For Sale Held To Maturity (in thousands) Amortized Cost Fair Value Amortized Cost Fair Value Due within one year $ 32,935 $ 31,768 $ — $ — Due after one year through five years 381,941 355,163 4 4 Due after five years through ten years 879,699 769,002 3 3 Due after ten years 2,411,519 1,980,458 2,540 3,280 Total securities $ 3,706,094 $ 3,136,391 $ 2,547 $ 3,287 The following table presents, as of September 30, 2022, investment securities which were pledged to secure borrowings, public deposits, and repurchase agreements as permitted or required by law: (in thousands) Amortized Cost Fair Value To state and local governments to secure public deposits $ 492,344 $ 433,917 To secure repurchase agreements 479,063 416,031 Other securities pledged 243,069 217,513 Total pledged securities $ 1,214,476 $ 1,067,461 |
Loans and Leases
Loans and Leases | 9 Months Ended |
Sep. 30, 2022 | |
Receivables [Abstract] | |
Loans and Leases | Loans and Leases The following table presents the major types of loans and leases, net of deferred fees and costs, as of September 30, 2022 and December 31, 2021: (in thousands) September 30, 2022 December 31, 2021 Commercial real estate Non-owner occupied term, net $ 3,846,426 $ 3,786,887 Owner occupied term, net 2,549,761 2,332,422 Multifamily, net 5,090,661 4,051,202 Construction & development, net 1,036,931 890,338 Residential development, net 205,935 206,990 Commercial Term, net 3,003,424 3,008,473 Lines of credit & other, net 914,507 910,733 Leases & equipment finance, net 1,669,817 1,467,676 Residential Mortgage, net 5,470,624 4,517,266 Home equity loans & lines, net 1,565,094 1,197,170 Consumer & other, net 154,771 184,023 Total loans and leases, net of deferred fees and costs $ 25,507,951 $ 22,553,180 As of September 30, 2022 and December 31, 2021, the net deferred costs were $83.9 million and $57.5 million, respectively. Total loans and leases also include discounts on acquired loans of $6.5 million and $9.8 million as of September 30, 2022 and December 31, 2021, respectively. As of September 30, 2022, loans totaling $16.4 billion were pledged to secure borrowings and available lines of credit. The Company elected to exclude accrued interest receivable from the amortized cost basis of loans disclosed throughout this footnote. Interest accrued on loans totaled $72.7 million and $60.1 million as of September 30, 2022 and December 31, 2021, respectively, and is included in Other Assets . The Bank, through its commercial equipment leasing subsidiary, FinPac, is a provider of commercial equipment leasing and financing. Direct finance leases are included within the leases and equipment finance segment within the loans and leases, net line item. These direct financing leases typically have terms of three Loans and leases sold In the course of managing the loan and lease portfolio, at certain times, management may decide to sell loans and leases. The following table summarizes the carrying value of loans and leases sold by major loan type during the three and nine months ended September 30, 2022 and 2021: Three Months Ended Nine Months Ended (in thousands) September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Commercial real estate Non-owner occupied term, net $ 10,704 $ 14,828 $ 35,412 $ 38,124 Owner occupied term, net 13,093 12,692 31,977 25,115 Multifamily, net — — — 3,776 Commercial Term, net 15,759 10,866 37,537 39,180 Residential Mortgage, net — — 1,493 1,712 Consumer & other — — — 63,799 Total loans and leases sold, net $ 39,556 $ 38,386 $ 106,419 $ 171,706 |
Allowance for Credit Losses
Allowance for Credit Losses | 9 Months Ended |
Sep. 30, 2022 | |
Receivables [Abstract] | |
Allowance for Credit Losses | Allowance for Credit Losses Allowance for Credit Losses Methodology In accordance with CECL, the ACL represents management's estimate of lifetime credit losses for assets within its scope, specifically loans and leases and unfunded commitments. To calculate the ACL, management uses models to estimate the PD and LGD for loans utilizing inputs that include forecasted future economic conditions and that are dependent upon specific macroeconomic variables relevant to each of the Bank's loan and lease portfolios. Moody's Analytics, a third party, provided the historical and forward-looking macroeconomic data utilized in the models used to calculate the ACL. For ACL calculation purposes, the Bank considered the financial and economic environment at the time of assessment and economic scenarios that differed in the levels of severity and sensitivity to the ACL results. At each measurement date, the Bank selects the scenario that reflects its view of future economic conditions and is determined to be the most probable outcome. All forecasts are updated for each variable where applicable and incorporated as relevant into the ACL calculation. Actual credit loss results and the timing thereof will differ from the estimate of credit losses, either in a strong economy or a recession, as the portfolio will change through time due to growth, risk mitigation actions and other factors. In addition, the scenarios used will differ and change through time as economic conditions change. Economic scenarios might not capture deterioration or improvement in the economy timely enough for the Bank to be able to adequately address the impact to the ACL. Select macroeconomic variables are projected over the forecast period, and they could have a material impact in determining the ACL. As the length of the forecast period increases, information about the future becomes less readily available and projections are inherently less certain. The following is a discussion of the changes in the factors that influenced management's current estimate of expected credit losses. The changes in the ACL estimate for all portfolio segments, during the three months ended September 30, 2022, were primarily related to changes in the economic assumptions. The Bank opted to use Moody's Analytics' August consensus economic forecast for estimating the ACL as of September 30, 2022. This scenario is based on Moody's Analytics' review of a variety of surveys of baseline forecasts of the U.S. economy. These surveys vary in date of latest vintage, number of updates per year, list of variables forecast, duration of forecast, frequency of data (quarterly or annual), and the number of respondents. In the preparation of the Moody's Analytics consensus forecast, the focus is on the next three to five years, since that is the most typical duration in the surveyed results. Moody's Analytics' approach is to give greater consideration to the most recently produced forecasts, since they will include the most up-to-date historical information, and to those variables for which the number of surveyed responses is largest. In the consensus scenario selected, the probability that the economy will perform better than this baseline is equal to the probability that it will perform worse and included the following factors: • U.S. real GDP average annualized growth of 1.7% in 2022, 1.3% in 2023, 1.7% in 2024, and 1.9% in 2025; • U.S. unemployment rate average of 3.6% in 2022, 3.9% in 2023, 4.0% in 2024, and 3.9% 2025; • The forecasted average federal funds rate is expected to be 3.2% in Q4 2022, 3.3% in 2023, 2.8% 2024 and 2.6% in 2025. The Bank uses an additional scenario that differs in terms of severity within the variables, both favorable and unfavorable, to assess the sensitivity in the ACL results and to inform qualitative adjustments. The Bank selected the Moody's Analytics' August S2 scenario for this analysis. In the scenario selected, there is a 75% probability that the economy will perform better, broadly speaking, and a 25% probability that it will perform worse; and the scenario includes the following factors: • The economy falls into a recession in the fourth quarter of 2022; • The Russian invasion of Ukraine persists longer than anticipated. Import bans of Russian oil purchases increase the loss of oil on the global market to 3 million barrels per day, the same as in the baseline, but concerns build that there could be an even larger interruption of global oil supplies. This causes oil prices to stay elevated above $100 per barrel for several quarters longer than in the baseline, and thereby increases inflationary pressures. Higher gasoline prices cut into disposable income that would otherwise be available for other spending; • Supply-chain issues also persist, increasing shortages of affected goods, also keeping inflation elevated; • New cases, hospitalizations and deaths from COVID-19 start to rise again, slowing growth in spending on air travel, retail, and hotels; • U.S real GDP average annualized growth is expected to be 1.6% in 2022, (0.5)% in 2023, 3.0% in 2024, and 3.4% in 2025; • U.S. unemployment rate average of 3.9% in 2022, 6.1% in 2023, 4.8% in 2024, and 3.9% in 2025; • The Federal Reserve is expected to increase the federal funds rate somewhat faster than in the baseline in the fourth quarter of 2022 and the first half of 2023. The results using the comparison scenario in addition to changes to the macroeconomic variables subsequent to selected scenarios for sensitivity analysis were reviewed by management and were considered when evaluating the qualitative factor adjustments. The ACL is measured on a collective (pool) basis when similar characteristics exist. The Company has selected models at the portfolio level using a risk-based approach, with larger, more complex portfolios having more complex models. Except as noted below, the macroeconomic variables that are inputs to the models are reasonable and supportable over the life of the loans in that they reasonably project the key economic variables in the near term and then converge to a long run equilibrium trend. These models produce reasonable and supportable estimates of loss over the life of the loans as the projected credit losses will also converge to a steady state in line with the variables applied. The Company measures the ACL using the following methods: Commercial Real Estate: Non-owner occupied commercial real estate, multifamily, and construction loans are analyzed using a model that uses four primary property variables: net operating income, property value, property type, and location. For PD estimation, the model simulates potential future paths of net operating income given commercial real estate market factors determined from macroeconomic and regional commercial real estate forecasts. Using the resulting expected debt service coverage ratios, together with predicted loan-to-values and other variables, the model estimates PD from the range of conditional possibilities. In addition, the model estimates maturity PD capturing refinance default risk to produce a total PD for the loan. The model estimates LGD, inclusive of principal loss and liquidation expenses, empirically using predicted loan-to-value as well as certain market and other factors. The LGD calculation also includes a separate maturity risk component. The primary economic drivers in the model are GDP growth, U.S. unemployment rate, and 10-Year Treasury yield. These economic drivers are translated into a forecast provided by Moody's Analytics' REIS of real estate metrics, such as rental rates, vacancies, and cap rates. The model produces PD and LGD on a quarter-by-quarter basis for the life of loan. The owner-occupied commercial real-estate portfolio utilizes a top-down macroeconomic model using linear regression. This model produces portfolio level quarterly net charge-off rates for 10 years and carries forward the last quarter's expected loss percentage projection to remaining periods. The primary economic drivers for this model are the 7-year A vs Aa corporate bond spread and S&P 500 corporate after-tax profits. Commercial: Non-homogeneous commercial loans and leases and residential development loans are analyzed in a multi-step process. An initial PD is estimated using a model driven by an obligor's selected financial statement ratios, together with cycle-adjusting information based on the obligor's state and industry. An initial LGD is derived separately based on collateral type using collateral value and a haircut to reflect the loss in liquidation. Another model then applies an auto-regression technique to the initial PD and LGD metrics to estimate the PD and LGD curves according to the macroeconomic scenario over a one-year reasonable and supportable forecast. The primary economic drivers in the model are the S&P 500 Stock Price Index, S&P 500 Market Volatility Index, U.S. unemployment rate, as well as appropriate yield curves and credit spreads. This model utilizes output reversion methodology, which, after one year, reverts on a straight-line basis over two years to long-term PD estimated using financial statement ratios of each obligor. The model for the homogeneous lease and equipment finance agreement portfolio uses lease and equipment finance agreement information, such as origination and performance, as well as macroeconomic variables to calculate PD and LGD values. The PD calculation is based on survival analysis while LGD is calculated using a two-step regression. The model calculates LGD using an estimate of the probability that a defaulted lease or equipment finance agreement will have a loss, and an estimate of the loss amount. The primary economic drivers for the model are GDP, U.S. unemployment rate, and a home price growth index. The model produces PD and LGD curves at the lease or equipment finance agreement level for each month in the forecast horizon. Residential: The models for residential real estate and home equity lines of credit utilize loan level variables, such as origination and performance, as well as macroeconomic variables to calculate PD and LGD. The U.S. unemployment rate and home price growth rate indexes are primary economic drivers in both the residential real estate and HELOC models. In addition, the prime rate is also a primary driver in the HELOC model. The models focus on establishing an empirical relationship between default probabilities and a set of loan-level, borrower, and macroeconomic credit risk drivers. The LGD calculation for residential real estate is based on an estimate of the probability that a defaulted loan will have a loss, and then an estimate of the loss amount. HELOCs utilize the same model using residential real estate LGD values to assign loans to cohorts based on FICO scores and loan age. The model produces PD and LGD curves at the loan level for each quarter in the forecast horizon. Consumer : Historical net charge-off information as well as economic forecast assumptions are used to project loss rates for the Consumer segment. All loans and leases that have not been modeled receive a loss rate via an extrapolated rate methodology. The loans and leases receiving an extrapolated rate are typically newly originated loans and leases or loans and leases without the granularity of data necessary to be modeled. Based on the vintage year, credit classification, and reporting category of the modeled loans and leases, a loss factor is calculated and applied to the non-modeled loans and leases. Along with the quantitative factors produced by the above models, management also considers prepayment speeds and qualitative factors when determining the ACL. The Company uses a prepayment model that forecasts the constant prepayment rates based on institution specific data for the commercial real estate, commercial and industrial and consumer portfolios and a forward curve approach that changes with macro-economic input variables for the residential and leases portfolios. Below are the nine qualitative factors considered where applicable: • Changes in lending policies and procedures, including changes in underwriting standards and collection, charge-off, and recovery practices not considered elsewhere in estimating credit losses. • Changes in national, regional, and local economic and business conditions and developments that affect the collectability of the portfolio, including the condition of various market segments. • Changes in the nature and volume of the portfolio and in the terms of loans and leases. • Changes in the experience, ability, and depth of lending management and other relevant staff. • Changes in the volume and severity of past due loans and leases, the volume of non-accrual loans and leases, and the volume and severity of adversely classified or graded loans and leases. • Changes in the quality of the Bank's credit review system. • Changes in the value of the underlying collateral for collateral-dependent loans and leases. • The existence and effect of any concentrations of credit, and changes in the level of such concentrations. • The effect of other external factors such as competition and legal and regulatory requirements on the level of estimated credit losses in the Bank's existing portfolio. The Company evaluated each qualitative factor as of September 30, 2022, and concluded that a material adjustment to the amounts indicated by the models was not necessary as the models adequately reflected the significant changes in credit conditions and overall portfolio risk. Loss factors from the models, prepayment speeds, and qualitative factors are input into the Company's CECL accounting application which aggregates the information. The Company then uses two methods to calculate the current expected credit loss: 1) the DCF method, which is used for all loans except lines of credit and 2) the non-DCF method which is used for lines of credit due to difficulty of calculating an effective interest rate when lines have yet to be drawn on. The DCF method utilizes the effective interest rate of individual assets to discount the expected credit losses adjusted for prepayments. The difference in the net present value and the amortized cost of the asset will result in the required allowance. The non-DCF method uses the exposure at default, along with the expected credit losses adjusted for prepayments to calculate the required allowance. The following tables summarize activity related to the allowance for credit losses by portfolio segment for the three and nine months ended September 30, 2022 and 2021: Three Months Ended September 30, 2022 (in thousands) Commercial Real Estate Commercial Residential Consumer & Other Total Allowance for credit losses on loans and leases Balance, beginning of period $ 88,983 $ 131,455 $ 36,586 $ 4,087 $ 261,111 (Recapture) provision for credit losses for loans and leases (3,563) 26,762 4,307 1,036 28,542 Charge-offs — (9,459) (4) (929) (10,392) Recoveries 123 2,842 249 590 3,804 Net recoveries (charge-offs) 123 (6,617) 245 (339) (6,588) Balance, end of period $ 85,543 $ 151,600 $ 41,138 $ 4,784 $ 283,065 Reserve for unfunded commitments Balance, beginning of period $ 7,351 $ 2,232 $ 2,735 $ 505 $ 12,823 (Recapture) provision for credit losses on unfunded commitments (1,994) 579 304 141 (970) Balance, end of period 5,357 2,811 3,039 646 11,853 Total allowance for credit losses $ 90,900 $ 154,411 $ 44,177 $ 5,430 $ 294,918 Nine Months Ended September 30, 2022 (in thousands) Commercial Real Estate Commercial Residential Consumer & Other Total Allowance for credit losses on loans and leases Balance, beginning of period $ 99,075 $ 117,573 $ 29,068 $ 2,696 $ 248,412 (Recapture) provision for credit losses for loans and leases (13,745) 52,058 11,603 3,109 53,025 Charge-offs (8) (26,352) (171) (2,650) (29,181) Recoveries 221 8,321 638 1,629 10,809 Net recoveries (charge-offs) 213 (18,031) 467 (1,021) (18,372) Balance, end of period $ 85,543 $ 151,600 $ 41,138 $ 4,784 $ 283,065 Reserve for unfunded commitments Balance, beginning of period $ 8,461 $ 2,028 $ 1,957 $ 321 $ 12,767 (Recapture) provision for credit losses on unfunded commitments (3,104) 783 1,082 325 (914) Balance, end of period 5,357 2,811 3,039 646 11,853 Total allowance for credit losses $ 90,900 $ 154,411 $ 44,177 $ 5,430 $ 294,918 Three Months Ended September 30, 2021 (in thousands) Commercial Real Estate Commercial Residential Consumer & Other Total Allowance for credit losses on loans and leases Balance, beginning of period $ 128,951 $ 121,390 $ 25,296 $ 4,250 $ 279,887 (Recapture) provision for credit losses for loans and leases (20,141) 2,719 1,703 (413) (16,132) Charge-offs (916) (8,521) — (936) (10,373) Recoveries 120 3,346 281 431 4,178 Net (charge-offs) recoveries (796) (5,175) 281 (505) (6,195) Balance, end of period $ 108,014 $ 118,934 $ 27,280 $ 3,332 $ 257,560 Reserve for unfunded commitments Balance, beginning of period $ 10,094 $ 2,145 $ 1,710 $ 590 $ 14,539 (Recapture) provision for credit losses on unfunded commitments (3,273) 440 247 (201) (2,787) Balance, end of period 6,821 2,585 1,957 389 11,752 Total allowance for credit losses $ 114,835 $ 121,519 $ 29,237 $ 3,721 $ 269,312 Nine Months Ended September 30, 2021 (in thousands) Commercial Real Estate Commercial Residential Consumer & Other Total Allowance for credit losses on loans and leases Balance, beginning of period $ 141,710 $ 150,864 $ 27,964 $ 7,863 $ 328,401 (Recapture) provision for credit losses for loans and leases (33,199) 4,180 (1,212) (3,150) (33,381) Charge-offs (1,086) (44,228) (70) (2,983) (48,367) Recoveries 589 8,118 598 1,602 10,907 Net (charge-offs) recoveries (497) (36,110) 528 (1,381) (37,460) Balance, end of period $ 108,014 $ 118,934 $ 27,280 $ 3,332 $ 257,560 Reserve for unfunded commitments Balance, beginning of period $ 15,360 $ 2,190 $ 1,661 $ 1,075 $ 20,286 (Recapture) provision for credit losses on unfunded commitments (8,539) 395 296 (686) (8,534) Balance, end of period 6,821 2,585 1,957 389 11,752 Total allowance for credit losses $ 114,835 $ 121,519 $ 29,237 $ 3,721 $ 269,312 Asset Quality and Non-Performing Loans and Leases The Bank manages asset quality and controls credit risk through diversification of the loan and lease portfolio and the application of policies designed to promote sound underwriting and loan and lease monitoring practices. The Bank's Credit Quality Administration department is charged with monitoring asset quality, establishing credit policies and procedures, and enforcing the consistent application of these policies and procedures across the Bank. Reviews of non-performing, past due loans and leases and larger credits, designed to identify potential charges to the allowance for credit losses, and to determine the adequacy of the allowance, are conducted on an ongoing basis. These reviews consider such factors as the financial strength of borrowers, the value of the applicable collateral, loan and lease loss experience, estimated loan and lease losses, growth in the loan and lease portfolio, prevailing economic conditions, and other factors. Loans and Leases Past Due and Non-Accrual Loans and Leases Typically, loans in a non-accrual status will not have an allowance for credit loss as they will be written down to their net realizable value or charged-off. However, the net realizable value for homogeneous leases and equipment finance agreements is determined by the LGD calculated by the CECL model and therefore leases and equipment finance agreements on non-accrual will have an allowance for credit losses until they become 181 days past due, at which time they are charged-off. The Company recognized no interest income on non-accrual loans and leases during the three and nine months ended September 30, 2022 and 2021. The following tables present the carrying value of the loans and leases past due, by loan and lease class, as of September 30, 2022 and December 31, 2021: September 30, 2022 (in thousands) Greater than 30 to 59 Days Past Due 60 to 89 Days Past Due 90 Days or More and Accruing Total Past Due Non-Accrual (1) Current Total Loans and Leases Commercial real estate Non-owner occupied term, net $ 321 $ — $ — $ 321 $ 3,282 $ 3,842,823 $ 3,846,426 Owner occupied term, net 282 24 1 307 2,121 2,547,333 2,549,761 Multifamily, net — — — — — 5,090,661 5,090,661 Construction & development, net — — — — — 1,036,931 1,036,931 Residential development, net — — — — — 205,935 205,935 Commercial Term, net 3,743 4,073 1 7,817 3,945 2,991,662 3,003,424 Lines of credit & other, net 778 83 6 867 86 913,554 914,507 Leases & equipment finance, net 15,628 14,952 5,136 35,716 14,621 1,619,480 1,669,817 Residential Mortgage, net (2) 869 8,518 20,717 30,104 — 5,440,520 5,470,624 Home equity loans & lines, net 2,406 1,191 1,716 5,313 — 1,559,781 1,565,094 Consumer & other, net 420 250 152 822 — 153,949 154,771 Total, net of deferred fees and costs $ 24,447 $ 29,091 $ 27,729 $ 81,267 $ 24,055 $ 25,402,629 $ 25,507,951 (1) Loans and leases on non-accrual with an amortized cost basis of $24.1 million had a related allowance for credit losses of $13.1 million at September 30, 2022. (2) Includes government guaranteed mortgage loans that Umpqua has the right but not the obligation to repurchase that are past due 90 days or more, totaling $1.0 million at September 30, 2022. December 31, 2021 (in thousands) Greater than 30 to 59 Days Past Due 60 to 89 Days Past Due 90 Days or More and Accruing Total Past Due Non-Accrual (1) Current and Other Total Loans and Leases Commercial real estate Non-owner occupied term, net $ 388 $ 1,138 $ — $ 1,526 $ 3,384 $ 3,781,977 $ 3,786,887 Owner occupied term, net 101 65 1 167 2,383 2,329,872 2,332,422 Multifamily, net — — — — — 4,051,202 4,051,202 Construction & development, net — — — — — 890,338 890,338 Residential development, net — — — — — 206,990 206,990 Commercial Term, net 4,627 2,345 4 6,976 4,225 2,997,272 3,008,473 Lines of credit & other, net 300 2 357 659 — 910,074 910,733 Leases & equipment finance, net 6,806 8,951 3,799 19,556 8,873 1,439,247 1,467,676 Residential Mortgage, net 802 3,668 27,249 31,719 — 4,485,547 4,517,266 Home equity loans & lines, net 1,214 491 732 2,437 — 1,194,733 1,197,170 Consumer & other, net 396 386 194 976 — 183,047 184,023 Total, net of deferred fees and costs $ 14,634 $ 17,046 $ 32,336 $ 64,016 $ 18,865 $ 22,470,299 $ 22,553,180 (1) Loans and leases on non-accrual with an amortized cost basis of $18.9 million had a related allowance for credit losses of $7.5 million at December 31, 2021. Collateral Dependent Loans and Leases Loans are classified as collateral dependent when it is probable that the Bank will be unable to collect the scheduled payments of principal and interest when due, and repayment is expected to be provided substantially through the operation or sale of the collateral. The following table summarizes the amortized cost basis of the collateral dependent loans and leases by the type of collateral securing the assets as of September 30, 2022. There have been no significant changes in the level of collateralization from the prior periods. (in thousands) Residential Real Estate Commercial Real Estate General Business Assets Other Total Commercial real estate Non-owner occupied term, net $ — $ 3,059 $ — $ — $ 3,059 Owner occupied term, net — 1,879 — — 1,879 Commercial Term, net 1,092 520 1,922 — 3,534 Line of credit & other, net — — 86 1 87 Leases & equipment finance, net — — 14,621 — 14,621 Residential Mortgage, net 38,051 — — — 38,051 Home equity loans & lines, net 3,497 — — — 3,497 Total net of deferred fees and costs $ 42,640 $ 5,458 $ 16,629 $ 1 $ 64,728 Troubled Debt Restructuring At September 30, 2022 and December 31, 2021, troubled debt restructured loans of $7.1 million and $6.7 million, respectively, were classified as accruing TDR loans. The TDRs were granted in response to borrower financial difficulties, and generally provide for a temporary modification of loan repayment terms. In order for a new TDR loan to be considered for accrual status, the loan's collateral coverage generally will be greater than or equal to 100% of the loan balance, the loan is current on payments, and the borrower must either prefund an interest reserve or demonstrate the ability to make payments from a verified source of cash flow. The following tables present TDR loans by accrual versus non-accrual status and by portfolio segment as of September 30, 2022 and December 31, 2021: September 30, 2022 (in thousands) Accrual Status Non-Accrual Status Total Modification # of Contracts Commercial real estate, net $ 278 $ 32 $ 310 3 Residential, net 6,785 — 6,785 42 Consumer & other, net 13 — 13 2 Total, net of deferred fees and costs $ 7,076 $ 32 $ 7,108 47 December 31, 2021 (in thousands) Accrual Status Non-Accrual Status Total Modification # of Contracts Commercial real estate, net $ 1,031 $ 59 $ 1,090 5 Residential, net 5,641 — 5,641 35 Consumer & other, net 22 — 22 3 Total, net of deferred fees and costs $ 6,694 $ 59 $ 6,753 43 The following table presents loans that were determined to be TDRs during the three and nine months ended September 30, 2022 and 2021: Three Months Ended Nine Months Ended (in thousands) September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Commercial real estate, net $ 278 $ — $ 278 $ — Residential, net $ 1,405 $ 1,661 5,611 5,903 Consumer & other, net — — — 36 Total, net of deferred fees and costs $ 1,683 $ 1,661 $ 5,889 $ 5,939 Credit Quality Indicators Management regularly reviews loans and leases in the portfolio to assess credit quality indicators and to determine appropriate loan classification and grading. In addition, the Company's board of directors reviews and approves the credit quality indicators each year. The Bank differentiates its lending portfolios into homogeneous and non-homogeneous loans and leases. Homogeneous loans and leases are initially risk rated on a single risk rating scale based on the past due status of the loan or lease. Homogeneous loans and leases that have risk-based modifications or forbearances enter into an alternative elevated risk rating scale that freezes the elevated risk rating and requires six consecutive months of scheduled payments without delinquency before the loan or lease can return to the delinquency-based risk rating scale. Homogeneous loans and leases with other defined risk factors such as confirmed bankruptcy, business closure, death of a guarantor or fraud will be set to a floor substandard rating. The Bank's risk rating methodology for its non-homogeneous loans and leases uses a dual risk rating approach to assess the credit risk. This approach uses two scales to provide a comprehensive assessment of credit default risk and recovery risk. The probability of default scale measures a borrower's credit default risk using risk ratings ranging from 1 to 16, where a higher rating represents higher risk. For non-homogeneous loans and leases, PD ratings of 1 through 9 are "pass" grades, while PD ratings of 10 and 11 are "watch" grades. PD ratings of 12-16 correspond to the regulatory-defined categories of special mention (12), substandard (13-14), doubtful (15), and loss (16). The loss given default scale measures the amount of loss that may not be recovered in the event of a default, using six alphabetic ratings from A-F, where a higher rating represents higher risk. The LGD scale quantifies recovery risk associated with an event of default and predicts the amount of loss that would be incurred on a loan or lease if a borrower were to experience a major default and includes variables that may be external to the borrower, such as industry, geographic location, and credit cycle stage. It could also include variables specific to the loan or lease, including collateral valuation, covenant structure and debt type. The product of the borrower's PD and a loan or lease LGD is the loan or lease expected loss, expressed as a percentage. This provides a common language of credit risk across different loans. The PD scale estimates the likelihood that a borrower will experience a major default on any of its debt obligations within a specified time period. Examples of major defaults include payments 90 days or more past due, non-accrual classification, bankruptcy filing, or a full or partial charge-off of a loan or lease. As such, the PD scale represents the credit quality indicator for non-homogeneous loans and leases. The credit quality indicator rating categories follow regulatory classification and can be generally described by the following groupings for loans and leases: Pass/Watch —A pass loan or lease is a loan or lease with a credit risk level acceptable to the Bank for extending credit and maintaining normal credit monitoring. A watch loan or lease is considered pass rated but has a heightened level of unacceptable default risk due to an emerging risk element or declining performance trend. Watch ratings are expected to be temporary, with issues resolved or manifested to the extent that a higher or lower risk rating would be appropriate within a short period of time. Special Mention— A special mention loan or lease has potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the institution's credit position at some future date. These borrowers have an elevated probability of default but not to the point of a substandard classification. Substandard— A substandard loan or lease is inadequately protected by the current net worth and paying capacity of the borrower or of the collateral pledged, if any. Loans and leases classified as substandard have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. Doubtful —Loans or leases classified as doubtful have all the weaknesses inherent in those classified as substandard with the added characteristic that the weaknesses make collection or liquidation in full, based on currently existing facts, conditions, and values, highly questionable and improbable. Loss —Loans or leases classified as loss are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. The following tables represent the amortized costs basis of the loans and leases by credit classification and vintage year by loan and lease class of financing receivable as of September 30, 2022 and December 31, 2021: (in thousands) Term Loans Amortized Cost Basis by Origination Year Revolving Loans Amortized Cost Basis Revolving to Non-Revolving Loans Amortized Cost September 30, 2022 2022 2021 2020 2019 2018 Prior Total Commercial real estate: Non-owner occupied term, net Credit quality indicator: Pass/Watch $ 611,283 $ 779,385 $ 394,345 $ 572,015 $ 396,511 $ 1,003,038 $ 1,015 $ 4,502 $ 3,762,094 Special mention 893 18,188 373 4,628 4,028 10,825 — — 38,935 Substandard 2,559 797 1,960 — 33,202 6,583 — — 45,101 Doubtful — — — — — 52 — — 52 Loss — — — — — 244 — — 244 Total non-owner occupied term, net $ 614,735 $ 798,370 $ 396,678 $ 576,643 $ 433,741 $ 1,020,742 $ 1,015 $ 4,502 $ 3,846,426 Owner occupied term, net Credit quality indicator: Pass/Watch $ 558,055 $ 562,282 $ 188,825 $ 333,328 $ 214,471 $ 641,716 $ 4,532 $ 119 $ 2,503,328 Special mention 2,103 — — 3,483 12,163 11,688 — — 29,437 Substandard — 1,658 404 660 1,362 12,808 — — 16,892 Doubtful — — — — — — — — — Loss — — — — — 104 — — 104 Total owner occupied term, net $ 560,158 $ 563,940 $ 189,229 $ 337,471 $ 227,996 $ 666,316 $ 4,532 $ 119 $ 2,549,761 Multifamily, net Credit quality indicator: Pass/Watch $ 1,641,219 $ 1,619,672 $ 366,586 $ 656,951 $ 236,674 $ 541,995 $ 24,649 $ 2,915 $ 5,090,661 Special mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Loss — — — — — — — — — Total multifamily, net $ 1,641,219 $ 1,619,672 $ 366,586 $ 656,951 $ 236,674 $ 541,995 $ 24,649 $ 2,915 $ 5,090,661 Construction & development, net Credit quality indicator: Pass/Watch $ 133,105 $ 471,095 $ 247,657 $ 112,484 $ 27,875 $ 18,228 $ 2,390 $ — $ 1,012,834 Special mention — 12,571 — 11,526 — — — — 24,097 Substandard — — — — — — — — — Doubtful — — — — — — — — — Loss — — — — — — — — — Total construction & development, net $ 133,105 $ 483,666 $ 247,657 $ 124,010 $ 27,875 $ 18,228 $ 2,390 $ — $ 1,036,931 Residential development, net Credit quality indicator: Pass/Watch $ 27,328 $ 18,597 $ 1,250 $ — $ — $ — $ 158,760 $ — $ 205,935 Special mention — — — — — |
Residential Mortgage Servicing
Residential Mortgage Servicing Rights | 9 Months Ended |
Sep. 30, 2022 | |
Transfers and Servicing [Abstract] | |
Residential Mortgage Servicing Rights | Residential Mortgage Servicing Rights The Company measures its MSR asset at fair value with changes in fair value reported in residential mortgage banking revenue, net. The following table presents the changes in the Company's residential MSR for the three and nine months ended September 30, 2022 and 2021: Three Months Ended Nine Months Ended (in thousands) September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Balance, beginning of period $ 179,558 $ 102,699 $ 123,615 $ 92,907 Additions for new MSR capitalized 5,194 8,450 20,397 30,845 Changes in fair value: Changes due to collection/realization of expected cash flows over time (4,978) (4,681) (15,286) (13,592) Changes due to valuation inputs or assumptions (1) 16,403 (634) 67,451 (4,326) Balance, end of period $ 196,177 $ 105,834 $ 196,177 $ 105,834 (1) The change in valuation inputs and assumptions principally reflect changes in discount rates and prepayment speeds, which are primarily affected by changes in interest rates. Information related to the serviced loan portfolio as of September 30, 2022 and December 31, 2021 is as follows: (dollars in thousands) September 30, 2022 December 31, 2021 Balance of loans serviced for others $ 12,997,911 $ 12,755,671 MSR as a percentage of serviced loans 1.51 % 0.97 % |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Financial Instruments with Off-Balance-Sheet Risk — The Company's financial statements do not reflect various commitments and contingent liabilities that arise in the normal course of the Bank's business and involve elements of credit, liquidity, and interest rate risk. The following table presents a summary of the Bank's commitments and contingent liabilities: (in thousands) September 30, 2022 Commitments to extend credit $ 8,021,552 Forward sales commitments $ 247,469 Commitments to originate residential mortgage loans held for sale $ 131,443 Standby letters of credit $ 125,320 The Bank is a party to financial instruments with off-balance-sheet credit risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit, standby letters of credit and financial guarantees. Those instruments involve elements of credit and interest-rate risk similar to the risk involved in on-balance sheet items. The contract or notional amounts of those instruments reflect the extent of the Bank's involvement in particular classes of financial instruments. The Bank's exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit, and financial guarantees written, is represented by the contractual notional amount of those instruments. The Bank uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. There were no financial guarantees in connection with standby letters of credit that the Bank was required to perform on during the three and nine months ended September 30, 2022 and 2021. At September 30, 2022, approximately $115.6 million of standby letters of credit expire within one year, and $9.7 million expire thereafter. Residential mortgage loans sold into the secondary market are sold with limited recourse against the Company, meaning that the Company may be obligated to repurchase or otherwise reimburse the investor for incurred losses on any loans that suffer an early payment default, are not underwritten in accordance with investor guidelines or are determined to have pre-closing borrower misrepresentations. Legal Proceedings and Regulatory Matters —We are subject to litigation in court and arbitral proceedings, as well as proceedings, investigations, examinations, and other actions brought or considered by governmental and self-regulatory agencies. We are a party to various pending and threatened claims and legal proceedings arising in the normal course of business activities, some of which involve claims for substantial or uncertain amounts. On September 29, 2022, the United States District Court for the Northern District of California heard oral arguments on the Bank’s motion for summary judgment in the civil class action lawsuit, Camenisch et al v. Umpqua Bank . The case was filed on August 21, 2020, on behalf of a class of investor-victims of decedent Kenneth J. Casey and a Ponzi scheme he effectuated through his companies Professional Financial Investors, Inc. or Professional Investors Security Fund, Inc. Plaintiffs claim that the companies banked with the Bank and, therefore, the Bank allegedly knew that Mr. Casey was defrauding investors. Plaintiffs' claims against the Bank include aiding and abetting fraud and aiding and abetting breach of fiduciary duty. The cases follow an SEC non-public investigation into this matter on May 28, 2020. At least quarterly, we assess liabilities and contingencies in connection with all outstanding or new legal matters, utilizing the most recent information available. If we determine that a loss from a matter is probable and the amount of the loss can be reasonably estimated, we establish an accrual for the loss. Once established, each accrual is adjusted as appropriate to reflect any subsequent developments in the specific legal matter. It is inherently difficult to determine whether any loss is probable or even possible. It is also inherently difficult to estimate the amount of any loss and there may be matters for which a loss is probable or reasonably possible but not currently estimable. Actual losses may be in excess of any established accrual or the range of reasonably possible loss. Management's estimate will change from time to time. For matters where a loss is not probable, or the amount of the loss cannot be estimated, no accrual is established. The Company does not have any amounts accrued related to legal matters as of September 30, 2022. Resolution and the outcome of legal claims is unpredictable, exacerbated by the following: damages sought are unsubstantiated or indeterminate; it is unclear whether a case brought as a class action will be allowed to proceed on that basis; discovery or motion practice is not complete; the proceeding is not yet in its final stages; the matters present legal uncertainties; there are significant facts in dispute; there are a large number of parties, including multiple defendants; or there is a wide range of potential results. Any estimate or determination relating to the future resolution of legal and regulatory matters is uncertain and involves significant judgment. We usually are unable to determine whether a favorable or unfavorable outcome is remote, reasonably likely, or probable, or to estimate the amount or range of a probable or reasonably likely loss, until relatively late in the process. Although there can be no assurance as to the ultimate outcome of specific legal matter, we believe we have meritorious defenses to the claims asserted against us in our currently outstanding legal matters, and we intend to continue to vigorously defend ourselves. We will consider settlement of legal matters when, in management's judgment, it is in the best interests of the Company and its shareholders. Based on information currently available, advice of counsel, available insurance coverage, and established reserves, the Company believes that the eventual outcome of the actions against us will not have a material adverse effect on the Company's consolidated financial condition. However, it is possible that the ultimate resolution of a matter, if unfavorable, may be material to the Company's results of operations for any particular period. Contingencies— On October 12, 2021, Umpqua and Columbia announced that their boards of directors unanimously approved the Merger Agreement under which the two companies will combine in an all-stock transaction. Under the terms of the Merger Agreement, Umpqua shareholders will receive 0.5958 of a share of Columbia stock for each Umpqua share they own. Upon completion of the transaction, Umpqua shareholders will own approximately 62% and Columbia shareholders will own approximately 38% of the combined company. On September 17, 2022, Umpqua and Columbia entered into a Letter of Agreement with the Department of Justice, which stipulates that in order to obtain regulatory approvals necessary to complete the transaction, ten Columbia State Bank branches will need to be divested. On October 25, 2022, Columbia received regulatory approval from the Board of Governors of the Federal Reserve System to complete the proposed merger with Umpqua. The transaction is expected to close following the satisfaction of customary closing conditions, including receipt of remaining regulatory approvals. The Merger Agreement provides certain termination rights for both Umpqua and Columbia and further provides that, if termination of the Merger Agreement under certain circumstances, Umpqua or Columbia, as applicable, will be obligated to pay the other party a termination fee of $145.0 million. Concentrations of Credit Risk — The Bank grants real estate mortgage, real estate construction, commercial, agricultural and installment loans and leases to customers in Oregon, Washington, California, Idaho, Nevada, Arizona, and Colorado. In management's judgment, a concentration exists in real estate-related loans, which represented approximately 78% and 76% of the Bank's loan and lease portfolio at September 30, 2022 and December 31, 2021, respectively. Commercial real estate concentrations are managed to ensure geographic and business diversity, primarily in our footprint. Although management believes such concentrations have no more than the normal risk of collectability, a substantial decline in the economy in general, material increases in interest rates, changes in tax policies, tightening credit or refinancing markets, or a decline in real estate values in the Bank's primary market areas in particular, could have an adverse impact on the repayment of these loans. Personal and business incomes, proceeds from the sale of real property, or proceeds from refinancing represent the primary sources of repayment for a majority of these loans. The Bank recognizes the credit risks inherent in dealing with other depository institutions. Accordingly, to prevent excessive exposure to any single correspondent, the Bank has established general standards for selecting correspondent banks as well as internal limits for allowable exposure to any single correspondent. In addition, the Bank has an investment policy that sets forth limitations that apply to all investments with respect to credit rating and concentrations with an issuer. |
Derivatives
Derivatives | 9 Months Ended |
Sep. 30, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives | Derivatives The Bank may use derivatives to hedge the risk of changes in the fair values of interest rate lock commitments, residential mortgage loans held for sale, and MSRs. None of the Company's derivatives are designated as hedging instruments. Rather, they are accounted for as free-standing derivatives, or economic hedges, with changes in the fair value of the derivatives reported in income. The Company primarily utilizes forward interest rate contracts in its derivative risk management strategy. The Bank enters into forward delivery contracts to sell residential mortgage loans or mortgage-backed securities to broker-dealers at specific prices and dates in order to hedge the interest rate risk in its portfolio of mortgage loans held for sale and its residential mortgage interest rate lock commitments. Credit risk associated with forward contracts is limited to the replacement cost of those forward contracts in a gain position. There were no counterparty default losses on forward contracts in the three and nine months ended September 30, 2022 and 2021. Market risk with respect to forward contracts arises principally from changes in the value of contractual positions due to changes in interest rates. The Bank limits its exposure to market risk by monitoring differences between commitments to customers and forward contracts with broker-dealers. In the event the Company has forward delivery contract commitments in excess of available mortgage loans, the Company completes the transaction by either paying or receiving a fee to or from the broker-dealer equal to the increase or decrease in the market value of the forward contract. At September 30, 2022, the Bank had commitments to originate mortgage loans held for sale totaling $131.4 million and forward sales commitments of $247.5 million, which are used to hedge both on-balance sheet and off-balance sheet exposures. In August 2022, the Bank began purchasing interest rate futures and forward settling mortgage-backed securities to hedge the interest rate risk of mortgage servicing rights. As of September 30, 2022, the Bank had $155.0 million notional of interest rate futures contracts and $14.1 million of mortgage-backed securities related to this program. The Bank had cash collateral posting requirements for margins with its futures and mortgage-back securities counterparties and was required to post collateral against its obligations under these agreements of $13.4 million as of September 30, 2022. The Bank executes interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. Those interest rate swaps are simultaneously hedged by offsetting the interest rate swaps that the Bank executes with a third party, such that the Bank minimizes its net risk exposure. As of September 30, 2022, the Bank had 932 interest rate swaps with an aggregate notional amount of $7.3 billion related to this program. As of December 31, 2021, the Bank had 936 interest rate swaps with an aggregate notional amount of $7.0 billion related to this program. As of September 30, 2022 and December 31, 2021, the termination value of interest rate swaps in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $282.1 million and $8.7 million, respectively. The Bank has collateral posting requirements for initial margins with its clearing members and clearing houses and has been required to post collateral against its obligations under these agreements of $96.9 million and $92.6 million as of September 30, 2022 and December 31, 2021, respectively. In 2021, the Bank began to collateralize a portion of its initial margin with U.S. Treasury securities. The Bank's clearable interest rate swap derivatives are cleared through the Chicago Mercantile Exchange and London Clearing House. These clearing houses characterize the variation margin payments, for certain derivative contracts that are referred to as settled-to-market, as settlements of the derivative's mark-to-market exposure and not collateral. The Company accounts for the variation margin as an adjustment to cash collateral, as well as a corresponding adjustment to the derivative asset and liability. As of September 30, 2022 and December 31, 2021, the variation margin adjustments consisted of a positive adjustment of $238.3 million and a negative adjustment of $172.9 million, respectively. The Bank also executes foreign currency hedges as a service for customers. These foreign currency hedges are then offset with hedges with other third-party banks to limit the Bank's risk exposure. The Bank's derivative assets are included in other assets, while the derivative liabilities are included in other liabilities. The following table summarizes the types of derivatives, separately by assets and liabilities, and the fair values of such derivatives as of September 30, 2022 and December 31, 2021: (in thousands) Asset Derivatives Liability Derivatives Derivatives not designated as hedging instrument September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Interest rate lock commitments $ 24 $ 4,641 $ 2,290 $ — Interest rate futures — — 10,359 — Interest rate forward sales commitments 9,740 615 5 699 Interest rate swaps 4,479 171,827 282,087 8,671 Foreign currency derivatives 586 340 481 305 Total derivative assets and liabilities $ 14,829 $ 177,423 $ 295,222 $ 9,675 The gains and losses on the Company's mortgage banking derivatives are included in mortgage banking revenue. The gains and losses on the Company's interest rate swaps and foreign currency derivatives are included in other income. The following table summarizes the types of derivatives and the gains (losses) recorded during the three and nine months ended September 30, 2022 and 2021: (in thousands) Three Months Ended Nine Months Ended Derivatives not designated as hedging instrument September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Interest rate lock commitments $ (2,149) $ (4,952) $ (6,907) $ (19,886) Interest rate futures (14,128) — (14,128) — Interest rate forward sales commitments 10,017 (2,550) 49,468 15,336 Interest rate swaps 4,194 1,429 18,578 8,698 Foreign currency derivatives 779 718 2,283 1,985 Total derivative (losses) gains $ (1,287) $ (5,355) $ 49,294 $ 6,133 |
Earnings Per Common Share
Earnings Per Common Share | 9 Months Ended |
Sep. 30, 2022 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | Earnings Per Common Share The following is a computation of basic and diluted earnings per common share for the three and nine months ended September 30, 2022 and 2021: Three Months Ended Nine Months Ended (in thousands, except per share data) September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Net income $ 84,040 $ 108,066 $ 253,788 $ 331,946 Weighted average number of common shares outstanding - basic 217,051 218,416 216,955 219,791 Effect of potentially dilutive common shares (1) 335 562 398 487 Weighted average number of common shares outstanding - diluted 217,386 218,978 217,353 220,278 Earnings per common share: Basic $ 0.39 $ 0.49 $ 1.17 $ 1.51 Diluted $ 0.39 $ 0.49 $ 1.17 $ 1.51 (1) Represents the effect of the assumed vesting of non-participating restricted shares based on the treasury stock method. The following table represents the weighted average outstanding restricted shares that were not included in the computation of diluted earnings per share because their effect would be anti-dilutive for the three and nine months ended September 30, 2022 and 2021: Three Months Ended Nine Months Ended (in thousands) September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Restricted stock awards 502 — 395 73 |
Segment Information
Segment Information | 9 Months Ended |
Sep. 30, 2022 | |
Segment Reporting [Abstract] | |
Segment Information | Segment Information The Company reports two segments: Core Banking and Mortgage Banking. The Core Banking segment includes all lines of business, except Mortgage Banking, including commercial, retail, and private banking, as well as the operations, technology, and administrative functions of the Bank and Holding Company. The Mortgage Banking segment includes the revenue earned from the production and sale of residential real estate loans, the servicing income from the serviced loan portfolio, the quarterly changes to the MSR, the quarterly changes in the MSR hedge, and the specific expenses that are related to mortgage banking activities including variable commission expenses. Revenue and related expenses related to residential real estate loans held for investment are included in the Core Banking segment as portfolio loans are primarily originated through the Bank's retail consumer (store) and wealth channels. Management periodically updates the allocation methods and assumptions within the current segment structure. Summarized financial information concerning the Company's reportable segments and the reconciliation to the consolidated financial results is shown in the following tables: Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 (in thousands) Core Banking Mortgage Banking Consolidated Core Banking Mortgage Banking Consolidated Net interest income $ 286,532 $ 1,072 $ 287,604 $ 232,348 $ 2,726 $ 235,074 Provision (recapture) for credit losses 27,572 — 27,572 (18,919) — (18,919) Non-interest income Residential mortgage banking revenue: Origination and sale — 10,515 10,515 — 30,293 30,293 Servicing — 9,529 9,529 — 9,172 9,172 Change in fair value of MSR asset: Changes due to collection/realization of expected cash flows over time — (4,978) (4,978) — (4,681) (4,681) Changes due to valuation inputs or assumptions — 16,403 16,403 — (634) (634) MSR hedge loss — (14,128) (14,128) — — — Loss on equity securities, net (2,647) — (2,647) (343) — (343) Gain on swap derivatives, net 4,194 — 4,194 1,429 — 1,429 Change in fair value of certain loans held for investment (26,397) — (26,397) 3,432 — 3,432 Non-interest income (excluding above items) 36,769 185 36,954 34,849 188 35,037 Total non-interest income 11,919 17,526 29,445 39,367 34,338 73,705 Non-interest expense Merger related expenses 769 — 769 — — — Exit and disposal costs 1,364 — 1,364 3,813 — 3,813 Non-interest expense (excluding above items) 154,320 21,511 175,831 146,931 33,009 179,940 Allocated expenses, net (1) (39) 39 — 3,680 (3,680) — Total non-interest expense 156,414 21,550 177,964 154,424 29,329 183,753 Income (loss) before income taxes 114,465 (2,952) 111,513 136,210 7,735 143,945 Provision (benefit) for income taxes 28,212 (739) 27,473 33,945 1,934 35,879 Net income (loss) $ 86,253 $ (2,213) $ 84,040 $ 102,265 $ 5,801 $ 108,066 (1) Represents the internal charges for centrally provided support services and other corporate overhead to the Mortgage Banking segment, net of allocations from the Mortgage Banking segment to Core Banking for new portfolio loan originations and portfolio servicing costs. Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 (in thousands) Core Banking Mortgage Banking Consolidated Core Banking Mortgage Banking Consolidated Net interest income $ 760,628 $ 3,909 $ 764,537 $ 676,837 $ 9,431 $ 686,268 Provision (recapture) for credit losses 51,068 — 51,068 (41,915) — (41,915) Non-interest income Residential mortgage banking revenue: Origination and sale — 42,460 42,460 — 134,165 134,165 Servicing — 28,174 28,174 — 27,379 27,379 Changes due to collection/realization of expected cash flows over time — (15,286) (15,286) — (13,592) (13,592) Changes due to valuation inputs or assumptions — 67,451 67,451 — (4,326) (4,326) MSR hedge loss — (14,128) (14,128) — — — Gain on sale of debt securities, net 2 — 2 4 — 4 Loss on equity securities, net (7,383) — (7,383) (1,045) — (1,045) Gain on swap derivatives, net 18,578 — 18,578 8,698 — 8,698 Change in fair value of certain loans held for investment (62,656) — (62,656) 5,704 — 5,704 Non-interest income (excluding above items) 106,880 557 107,437 115,913 680 116,593 Total non-interest income 55,421 109,228 164,649 129,274 144,306 273,580 Non-interest expense Merger related expenses 5,719 — 5,719 — — — Exit and disposal costs 4,839 — 4,839 9,741 — 9,741 Non-interest expense (excluding above items) 451,689 77,721 529,410 438,969 112,035 551,004 Allocated expenses, net (1) 7,398 (7,398) — 3,860 (3,860) — Total non-interest expense 469,645 70,323 539,968 452,570 108,175 560,745 Income before income taxes 295,336 42,814 338,150 395,456 45,562 441,018 Provision for income taxes 73,659 10,703 84,362 97,681 11,391 109,072 Net income $ 221,677 $ 32,111 $ 253,788 $ 297,775 $ 34,171 $ 331,946 (1) Represents the internal charges for centrally provided support services and other corporate overhead to the Mortgage Banking segment, net of allocations from the Mortgage Banking segment to Core Banking for new portfolio loan originations and portfolio servicing costs. September 30, 2022 December 31, 2021 (in thousands) Core Banking Mortgage Banking Consolidated Core Banking Mortgage Banking Consolidated Total assets $ 31,100,700 $ 371,260 $ 31,471,960 $ 30,155,058 $ 485,878 $ 30,640,936 Loans held for sale $ — $ 148,275 $ 148,275 $ — $ 353,105 $ 353,105 Total loans and leases $ 25,507,951 $ — $ 25,507,951 $ 22,553,180 $ — $ 22,553,180 Total deposits $ 26,588,217 $ 228,890 $ 26,817,107 $ 26,370,568 $ 224,117 $ 26,594,685 |
Fair Value Measurement
Fair Value Measurement | 9 Months Ended |
Sep. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | Fair Value Measurement The following table presents estimated fair values of the Company's financial instruments as of September 30, 2022 and December 31, 2021, whether or not recognized or recorded at fair value in the Condensed Consolidated Balance Sheets : September 30, 2022 December 31, 2021 (in thousands) Level Carrying Value Fair Value Carrying Value Fair Value Financial assets: Cash and cash equivalents 1 $ 1,553,859 $ 1,553,859 $ 2,761,621 $ 2,761,621 Equity and other investment securities 1,2 72,277 72,277 81,214 81,214 Investment securities available for sale 1,2 3,136,391 3,136,391 3,870,435 3,870,435 Investment securities held to maturity 3 2,547 3,287 2,744 3,514 Loans held for sale 2 148,275 148,275 353,105 353,105 Loans and leases, net 2,3 25,224,886 24,201,550 22,304,768 22,356,321 Restricted equity securities 1 40,993 40,993 10,916 10,916 Residential mortgage servicing rights 3 196,177 196,177 123,615 123,615 Bank owned life insurance 1 329,699 329,699 327,745 327,745 Derivatives 2,3 14,829 14,829 177,423 177,423 Financial liabilities: Deposits 1,2 $ 26,817,107 $ 26,780,203 $ 26,594,685 $ 26,593,521 Securities sold under agreements to repurchase 2 383,569 383,569 492,247 492,247 Borrowings 2 756,214 755,820 6,329 7,073 Junior subordinated debentures, at fair value 3 325,744 325,744 293,081 293,081 Junior subordinated debentures, at amortized cost 3 87,870 80,337 88,041 75,199 Derivatives 2,3 295,222 295,222 9,675 9,675 Fair Value of Assets and Liabilities Measured on a Recurring Basis The following tables present information about the Company's assets and liabilities measured at fair value on a recurring basis as of September 30, 2022 and December 31, 2021: (in thousands) September 30, 2022 Description Total Level 1 Level 2 Level 3 Financial assets: Equity and other investment securities Investments in mutual funds and other securities $ 61,309 $ 43,972 $ 17,337 $ — Equity securities held in rabbi trusts 10,968 10,968 — — Investment securities available for sale U.S. Treasury and agencies 830,813 125,510 705,303 — Obligations of states and political subdivisions 269,904 — 269,904 — Mortgage-backed securities and collateralized mortgage obligations 2,035,674 — 2,035,674 — Loans held for sale, at fair value 148,275 — 148,275 — Loans and leases, at fair value 284,900 — 284,900 — Residential mortgage servicing rights, at fair value 196,177 — — 196,177 Derivatives Interest rate lock commitments 24 — — 24 Interest rate forward sales commitments 9,740 — 9,740 — Interest rate swaps 4,479 — 4,479 — Foreign currency derivatives 586 — 586 — Total assets measured at fair value $ 3,852,849 $ 180,450 $ 3,476,198 $ 196,201 Financial liabilities: Junior subordinated debentures, at fair value $ 325,744 $ — $ — $ 325,744 Derivatives Interest rate lock commitments 2,290 — — 2,290 Interest rate futures 10,359 — 10,359 — Interest rate forward sales commitments 5 — 5 — Interest rate swaps 282,087 — 282,087 — Foreign currency derivatives 481 — 481 — Total liabilities measured at fair value $ 620,966 $ — $ 292,932 $ 328,034 (in thousands) December 31, 2021 Description Total Level 1 Level 2 Level 3 Financial assets: Equity and other investment securities Investments in mutual funds and other securities $ 68,692 $ 51,355 $ 17,337 $ — Equity securities held in rabbi trusts 12,522 12,522 — — Investment securities available for sale U.S. Treasury and agencies 918,053 89,038 829,015 — Obligations of states and political subdivisions 330,784 — 330,784 — Mortgage-backed securities and collateralized mortgage obligations 2,621,598 — 2,621,598 — Loans held for sale, at fair value 353,105 — 353,105 — Loans and leases, at fair value 345,634 — 345,634 — Residential mortgage servicing rights, at fair value 123,615 — — 123,615 Derivatives Interest rate lock commitments 4,641 — — 4,641 Interest rate forward sales commitments 615 — 615 — Interest rate swaps 171,827 — 171,827 — Foreign currency derivatives 340 — 340 — Total assets measured at fair value $ 4,951,426 $ 152,915 $ 4,670,255 $ 128,256 Financial liabilities: Junior subordinated debentures, at fair value $ 293,081 $ — $ — $ 293,081 Derivatives Interest rate forward sales commitments 699 — 699 — Interest rate swaps 8,671 — 8,671 — Foreign currency derivatives 305 — 305 — Total liabilities measured at fair value $ 302,756 $ — $ 9,675 $ 293,081 The following methods were used to estimate the fair value of each class of financial instrument that is carried at fair value in the tables above: Securities — Fair values for investment securities are based on quoted market prices when available or through the use of alternative approaches, such as matrix or model pricing, or broker indicative bids, when market quotes are not readily accessible or available. Management periodically reviews the pricing information received from the third-party pricing service and compares it to a secondary pricing service, evaluating significant price variances between services to determine an appropriate estimate of fair value to report. Loans Held for Sale — Fair value for residential mortgage loans originated as held for sale is determined based on quoted secondary market prices for similar loans, including the implicit fair value of embedded servicing rights. Loans and leases — Fair values are estimated for portfolios of loans with similar financial characteristics. Loans are segregated by type, including commercial, real estate and consumer loans. Each loan category is further segregated by fixed and adjustable rate loans. The fair value of loans is calculated by discounting expected cash flows at rates at which similar loans are currently being made. These amounts are discounted further by embedded probable losses expected to be realized in the portfolio. For loans originated as held for sale and transferred into loans held for investment, the fair value is determined based on quoted secondary market prices for similar loans. As of September 30, 2022, there were $284.9 million in mortgage loans recorded at fair value as they were previously transferred from held for sale to loans held for investment. Residential Mortgage Servicing Rights — The fair value of MSR is estimated using a DCF model. Assumptions used include market discount rates, anticipated prepayment speeds, delinquency and foreclosure rates, and ancillary fee income net of servicing costs. This model is periodically validated by an independent model validation group. The model assumptions and the MSR fair value estimates are also compared to observable trades of similar portfolios as well as to MSR broker valuations and industry surveys, as available. Management believes the significant inputs utilized are indicative of those that would be used by market participants. Junior Subordinated Debentures — The fair value of junior subordinated debentures is estimated using an income approach valuation technique. The significant unobservable input utilized in the estimation of fair value of these instruments is the credit risk adjusted spread. The credit risk adjusted spread represents the nonperformance risk of the liability, contemplating the inherent risk of the obligation. The Company periodically utilizes a valuation firm to determine or validate the reasonableness of inputs and factors that are used to determine the fair value. The ending carrying (fair) value of the junior subordinated debentures measured at fair value represents the estimated amount that would be paid to transfer these liabilities in an orderly transaction amongst market participants. Due to credit concerns in the capital markets and inactivity in the trust preferred markets that have limited the observability of market spreads, the Company has classified this as a Level 3 fair value measurement. Derivative Instruments — The fair value of the interest rate lock commitments, interest rate futures, and forward sales commitments are estimated using quoted or published market prices for similar instruments, adjusted for factors such as pull-through rate assumptions based on historical information, where appropriate. The pull-through rate assumptions are considered Level 3 valuation inputs and are significant to the interest rate lock commitment valuation; as such, the interest rate lock commitment derivatives are classified as Level 3. The fair value of the interest rate swaps is determined using a DCF technique incorporating credit valuation adjustments to reflect nonperformance risk in the measurement of fair value. Although the Bank has determined that the majority of the inputs used to value its interest rate swap derivatives fall within Level 2 of the fair value hierarchy, the CVA associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. However, as of September 30, 2022, the Bank has assessed the significance of the impact of the CVA on the overall valuation of its interest rate swap positions and has determined that the CVA are not significant to the overall valuation of its interest rate swap derivatives. As a result, the Bank has classified its interest rate swap and futures derivative valuations in Level 2 of the fair value hierarchy. Assets and Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3) The following table provides a description of the valuation technique, significant unobservable inputs, and qualitative information about the unobservable inputs for the Company's assets and liabilities classified as Level 3 and measured at fair value on a recurring basis at September 30, 2022: Financial Instrument Fair Value Valuation Technique Unobservable Input Range of Inputs Weighted Average Assets: Residential mortgage servicing rights $ 196,177 Discounted cash flow Constant prepayment rate 6.06% - 20.75% 6.34% Discount rate 9.50% - 15.94% 10.05% Liabilities: Interest rate lock commitments, net $ 2,266 Internal pricing model Pull-through rate 12.53% - 100.00% 91.86% Junior subordinated debentures $ 325,744 Discounted cash flow Credit spread 1.93% - 3.77% 2.93% Generally, increases in the constant prepayment rate or the discount rate utilized in the fair value measurement of the residential mortgage servicing rights will result in a decrease in fair value. Conversely, decreases in the constant prepayment rate or the discount rate will result in an increase in fair value. An increase in the pull-through rate utilized in the fair value measurement of the interest rate lock commitment derivative will result in an increase in the fair value measurement. Conversely, a decrease in the pull-through rate will result in a decrease in the fair value measurement. Management believes that the credit risk adjusted spread utilized in the fair value measurement of the junior subordinated debentures carried at fair value is indicative of the nonperformance risk premium a willing market participant would require under current market conditions, which is an inactive market. Generally, an increase in the credit spread will result in a decrease in the estimated fair value. Conversely, a decrease in the credit spread will result in an increase in the estimated fair value. The following table provides a reconciliation of assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the three and nine months ended September 30, 2022 and 2021: Three Months Ended Three Months Ended September 30, 2022 September 30, 2021 (in thousands) Residential mortgage servicing rights Interest rate lock commitments, net Junior subordinated debentures, at fair value Residential mortgage servicing rights Interest rate lock commitments, net Junior subordinated debentures, at fair value Beginning balance $ 179,558 $ (117) $ (321,268) $ 102,699 $ 13,210 $ (287,723) Change included in earnings 11,425 (1,072) (4,348) (5,315) 1,301 (2,344) Change in fair values included in comprehensive income/loss — — (4,043) — — (11,946) Purchases and issuances 5,194 1,376 — 8,450 16,007 — Sales and settlements — (2,453) 3,915 — (22,260) 2,505 Ending balance $ 196,177 $ (2,266) $ (325,744) $ 105,834 $ 8,258 $ (299,508) Change in unrealized gains or losses for the period included in earnings for assets and liabilities held at end of period $ 16,403 $ (2,266) $ (4,348) $ (634) $ 8,258 $ (2,344) Change in unrealized gains or losses for the period included in other comprehensive income for assets and liabilities held at end of period $ — $ — $ (4,043) $ — $ — $ (11,946) Nine Months Ended Nine Months Ended September 30, 2022 September 30, 2021 (in thousands) Residential mortgage servicing rights Interest rate lock commitments, net Junior subordinated debentures, at fair value Residential mortgage servicing rights Interest rate lock commitments, net Junior subordinated debentures, at fair value Beginning balance $ 123,615 $ 4,641 $ (293,081) $ 92,907 $ 28,144 $ (255,217) Change included in earnings 52,165 (7,779) (9,941) (17,918) 199 (7,087) Change in fair values included in comprehensive income/loss — — (31,810) — — (44,504) Purchases and issuances 20,397 9,074 — 30,845 67,730 — Sales and settlements — (8,202) 9,088 — (87,815) 7,300 Ending balance $ 196,177 $ (2,266) $ (325,744) $ 105,834 $ 8,258 $ (299,508) Change in unrealized gains or losses for the period included in earnings for assets held at end of period $ 67,451 $ (2,266) $ (9,941) $ (4,326) $ 8,258 $ (7,087) Change in unrealized gains or losses for the period included in other comprehensive income for assets held at end of period $ — $ — $ (31,810) $ — $ — $ (44,504) Changes in residential mortgage servicing rights carried at fair value are recorded in residential mortgage banking revenue within non-interest income. Gains (losses) on interest rate lock commitments carried at fair value are recorded in residential mortgage banking revenue within non-interest income. The contractual interest expense on the junior subordinated debentures is recorded on an accrual basis as interest on junior subordinated debentures within interest expense. Settlements related to the junior subordinated debentures represent the payment of accrued interest that is embedded in the fair value of these liabilities. The change in fair value of junior subordinated debentures is attributable to the change in the instrument specific credit risk; accordingly, unrealized losses on fair value of junior subordinated debentures of $4.0 million and $31.8 million for the three and nine months ended September 30, 2022, are recorded net of tax as other comprehensive loss of $3.0 million and $23.6 million, respectively. Comparatively, unrealized losses of $11.9 million and $44.5 million were recorded net of tax as other comprehensive losses of $8.9 million and $33.1 million, for the three and nine months ended September 30, 2021, respectively. The loss recorded for the three and nine months ended September 30, 2022 was due primarily to an increase in the implied forward curve, partially offset by an increase in the discount rate, which resulted in an increase in the liability. Fair Value of Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis From time to time, certain assets are measured at fair value on a nonrecurring basis. These adjustments to fair value generally result from the application of lower-of-cost-or-market accounting or write-downs of individual assets due to impairment, typically on collateral dependent loans. The following table presents information about the Company's assets and liabilities measured at fair value on a nonrecurring basis for which a nonrecurring change in fair value has been recorded during the reporting period. The amounts disclosed below represent the fair values at the time the nonrecurring fair value measurements were made, and not necessarily the fair value as of the dates reported upon. September 30, 2022 (in thousands) Total Level 1 Level 2 Level 3 Loans and leases $ 1,845 $ — $ — $ 1,845 Total assets measured at fair value on a nonrecurring basis $ 1,845 $ — $ — $ 1,845 December 31, 2021 (in thousands) Total Level 1 Level 2 Level 3 Loans and leases $ 4,129 $ — $ — $ 4,129 Total assets measured at fair value on a nonrecurring basis $ 4,129 $ — $ — $ 4,129 The following table presents the losses resulting from nonrecurring fair value adjustments for the three and nine months ended September 30, 2022 and 2021: Three Months Ended Nine Months Ended (in thousands) September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Loans and leases $ 8,621 $ 8,470 $ 25,153 $ 43,480 Total losses from nonrecurring measurements $ 8,621 $ 8,470 $ 25,153 $ 43,480 Fair Value Option The following table presents the difference between the aggregate fair value and the aggregate unpaid principal balance of loans held for sale and loans held for investment accounted for under the fair value option as of September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 (in thousands) Fair Value Aggregate Unpaid Principal Balance Fair Value Less Aggregate Unpaid Principal Balance Fair Value Aggregate Unpaid Principal Balance Fair Value Less Aggregate Unpaid Principal Balance Loans held for sale $ 148,275 $ 150,794 $ (2,519) $ 353,105 $ 341,008 $ 12,097 Loans $ 284,900 $ 336,980 $ (52,080) $ 345,634 $ 335,058 $ 10,576 Residential mortgage loans held for sale accounted for under the fair value option are measured initially at fair value with subsequent changes in fair value recognized in earnings. Gains and losses from such changes in fair value are reported as a component of residential mortgage banking revenue. For the three and nine months ended September 30, 2022, the Company recorded net decreases in fair value of $7.8 million and $14.6 million, respectively. For the three and nine months ended September 30, 2021, the Company recorded net decreases in fair value of $4.5 million and $13.5 million, respectively. Certain residential mortgage loans were initially originated for sale and measured at fair value; after origination, the loans were transferred to loans held for investment. Gains and losses from changes in fair value for these loans are reported in earnings as a component of other income. For the three and nine months ended September 30, 2022, the Company recorded net decreases in fair value of $26.4 million and $62.7 million, as compared to net increases in fair value of $3.4 million and $5.7 million for the three and nine months ended September 30, 2021, respectively. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
Recent Accounting Pronouncements | Application of new accounting guidance In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . This ASU was issued to provide temporary optional guidance to ease the potential burden in accounting for reference rate reform. The guidance provides optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference London Inter-Bank Offered Rate or another reference rate expected to be discontinued. The guidance further provides an expedient of a one-time election to sell or transfer debt securities classified as held to maturity. The expedients are in effect from March 12, 2020, through December 31, 2022. In January 2021, the FASB issued ASU No. 2021-01, Reference Rate Reform (Topic 848): Scope . The amendments in this ASU are elective and apply to all entities that have derivative instruments that use an interest rate for margining, discounting, or contract price alignment that is modified as a result of reference rate reform. The amendments clarify certain optional expedients and exceptions in Topic 848 for contract modifications. The amendments are in effect from March 12, 2020, through December 31, 2022. This ASU does not have a material impact on the Company's consolidated financial statements. The Company has an enterprise-wide LIBOR transition program which includes business strategy, product design and pricing strategy, instrument contract remediation, and systems and processes. The Company continues to use the expedients in the Topic 848 guidance to manage through the LIBOR transition, specifically for our loan portfolio. Umpqua has stopped originating new instruments using LIBOR, and consistent with regulatory guidance, Umpqua has stopped extensions of, or any increase in exposure in, current LIBOR instruments. |
Derivatives | Derivatives The Bank may use derivatives to hedge the risk of changes in the fair values of interest rate lock commitments, residential mortgage loans held for sale, and MSRs. None of the Company's derivatives are designated as hedging instruments. Rather, they are accounted for as free-standing derivatives, or economic hedges, with changes in the fair value of the derivatives reported in income. The Company primarily utilizes forward interest rate contracts in its derivative risk management strategy. |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Investments, Debt and Equity Securities [Abstract] | |
Amortized Cost, Unrealized Gains And Losses, And Fair Value Of Investment Securities | The following tables present the amortized cost, unrealized gains, unrealized losses and approximate fair values of debt securities as of September 30, 2022 and December 31, 2021: September 30, 2022 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value Available for sale: U.S. Treasury and agencies $ 935,469 $ — $ (104,656) $ 830,813 Obligations of states and political subdivisions 304,585 80 (34,761) 269,904 Mortgage-backed securities and collateralized mortgage obligations 2,466,040 1 (430,367) 2,035,674 Total available for sale securities $ 3,706,094 $ 81 $ (569,784) $ 3,136,391 Held to maturity: Mortgage-backed securities and collateralized mortgage obligations $ 2,547 $ 740 $ — $ 3,287 Total held to maturity securities $ 2,547 $ 740 $ — $ 3,287 December 31, 2021 (in thousands) Amortized Cost Unrealized Gains Unrealized Losses Fair Value Available for sale: U.S. Treasury and agencies $ 894,969 $ 27,279 $ (4,195) $ 918,053 Obligations of states and political subdivisions 320,338 11,734 (1,288) 330,784 Mortgage-backed securities and collateralized mortgage obligations 2,649,048 19,093 (46,543) 2,621,598 Total available for sale securities $ 3,864,355 $ 58,106 $ (52,026) $ 3,870,435 Held to maturity: Mortgage-backed securities and collateralized mortgage obligations $ 2,744 $ 770 $ — $ 3,514 Total held to maturity securities $ 2,744 $ 770 $ — $ 3,514 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value | Debt securities that were in an unrealized loss position as of September 30, 2022 and December 31, 2021 are presented in the following tables, based on the length of time individual securities have been in an unrealized loss position. September 30, 2022 Less than 12 Months 12 Months or Longer Total (in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Available for sale: U.S. Treasury and agencies $ 714,139 $ 81,728 $ 116,674 $ 22,928 $ 830,813 $ 104,656 Obligations of states and political subdivisions 224,486 24,966 31,605 9,795 256,091 34,761 Mortgage-backed securities and collateralized mortgage obligations 970,093 142,645 1,065,483 287,722 2,035,576 430,367 Total temporarily impaired securities $ 1,908,718 $ 249,339 $ 1,213,762 $ 320,445 $ 3,122,480 $ 569,784 December 31, 2021 Less than 12 Months 12 Months or Longer Total (in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Available for sale: U.S. Treasury and agencies $ 197,529 $ 2,749 $ 28,378 $ 1,446 $ 225,907 $ 4,195 Obligations of states and political subdivisions 75,200 1,153 2,162 135 77,362 1,288 Mortgage-backed securities and collateralized mortgage obligations 1,777,288 40,579 129,943 5,964 1,907,231 46,543 Total temporarily impaired securities $ 2,050,017 $ 44,481 $ 160,483 $ 7,545 $ 2,210,500 $ 52,026 |
Schedule Of Maturities Of Investment Securities | The following table presents the contractual maturities of debt securities at September 30, 2022: Available For Sale Held To Maturity (in thousands) Amortized Cost Fair Value Amortized Cost Fair Value Due within one year $ 32,935 $ 31,768 $ — $ — Due after one year through five years 381,941 355,163 4 4 Due after five years through ten years 879,699 769,002 3 3 Due after ten years 2,411,519 1,980,458 2,540 3,280 Total securities $ 3,706,094 $ 3,136,391 $ 2,547 $ 3,287 |
Investment Securities Pledged To Secure Borrowings And Public Deposits | The following table presents, as of September 30, 2022, investment securities which were pledged to secure borrowings, public deposits, and repurchase agreements as permitted or required by law: (in thousands) Amortized Cost Fair Value To state and local governments to secure public deposits $ 492,344 $ 433,917 To secure repurchase agreements 479,063 416,031 Other securities pledged 243,069 217,513 Total pledged securities $ 1,214,476 $ 1,067,461 |
Loans and Leases (Tables)
Loans and Leases (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Receivables [Abstract] | |
Schedule Of Major Types Of Non-Covered Loans | The following table presents the major types of loans and leases, net of deferred fees and costs, as of September 30, 2022 and December 31, 2021: (in thousands) September 30, 2022 December 31, 2021 Commercial real estate Non-owner occupied term, net $ 3,846,426 $ 3,786,887 Owner occupied term, net 2,549,761 2,332,422 Multifamily, net 5,090,661 4,051,202 Construction & development, net 1,036,931 890,338 Residential development, net 205,935 206,990 Commercial Term, net 3,003,424 3,008,473 Lines of credit & other, net 914,507 910,733 Leases & equipment finance, net 1,669,817 1,467,676 Residential Mortgage, net 5,470,624 4,517,266 Home equity loans & lines, net 1,565,094 1,197,170 Consumer & other, net 154,771 184,023 Total loans and leases, net of deferred fees and costs $ 25,507,951 $ 22,553,180 |
Summary of Loans and Leases Sold | The following table summarizes the carrying value of loans and leases sold by major loan type during the three and nine months ended September 30, 2022 and 2021: Three Months Ended Nine Months Ended (in thousands) September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Commercial real estate Non-owner occupied term, net $ 10,704 $ 14,828 $ 35,412 $ 38,124 Owner occupied term, net 13,093 12,692 31,977 25,115 Multifamily, net — — — 3,776 Commercial Term, net 15,759 10,866 37,537 39,180 Residential Mortgage, net — — 1,493 1,712 Consumer & other — — — 63,799 Total loans and leases sold, net $ 39,556 $ 38,386 $ 106,419 $ 171,706 |
Allowance for Credit Losses (Ta
Allowance for Credit Losses (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Receivables [Abstract] | |
Activity In The Non-Covered Allowance For Loan And Lease Losses | The following tables summarize activity related to the allowance for credit losses by portfolio segment for the three and nine months ended September 30, 2022 and 2021: Three Months Ended September 30, 2022 (in thousands) Commercial Real Estate Commercial Residential Consumer & Other Total Allowance for credit losses on loans and leases Balance, beginning of period $ 88,983 $ 131,455 $ 36,586 $ 4,087 $ 261,111 (Recapture) provision for credit losses for loans and leases (3,563) 26,762 4,307 1,036 28,542 Charge-offs — (9,459) (4) (929) (10,392) Recoveries 123 2,842 249 590 3,804 Net recoveries (charge-offs) 123 (6,617) 245 (339) (6,588) Balance, end of period $ 85,543 $ 151,600 $ 41,138 $ 4,784 $ 283,065 Reserve for unfunded commitments Balance, beginning of period $ 7,351 $ 2,232 $ 2,735 $ 505 $ 12,823 (Recapture) provision for credit losses on unfunded commitments (1,994) 579 304 141 (970) Balance, end of period 5,357 2,811 3,039 646 11,853 Total allowance for credit losses $ 90,900 $ 154,411 $ 44,177 $ 5,430 $ 294,918 Nine Months Ended September 30, 2022 (in thousands) Commercial Real Estate Commercial Residential Consumer & Other Total Allowance for credit losses on loans and leases Balance, beginning of period $ 99,075 $ 117,573 $ 29,068 $ 2,696 $ 248,412 (Recapture) provision for credit losses for loans and leases (13,745) 52,058 11,603 3,109 53,025 Charge-offs (8) (26,352) (171) (2,650) (29,181) Recoveries 221 8,321 638 1,629 10,809 Net recoveries (charge-offs) 213 (18,031) 467 (1,021) (18,372) Balance, end of period $ 85,543 $ 151,600 $ 41,138 $ 4,784 $ 283,065 Reserve for unfunded commitments Balance, beginning of period $ 8,461 $ 2,028 $ 1,957 $ 321 $ 12,767 (Recapture) provision for credit losses on unfunded commitments (3,104) 783 1,082 325 (914) Balance, end of period 5,357 2,811 3,039 646 11,853 Total allowance for credit losses $ 90,900 $ 154,411 $ 44,177 $ 5,430 $ 294,918 Three Months Ended September 30, 2021 (in thousands) Commercial Real Estate Commercial Residential Consumer & Other Total Allowance for credit losses on loans and leases Balance, beginning of period $ 128,951 $ 121,390 $ 25,296 $ 4,250 $ 279,887 (Recapture) provision for credit losses for loans and leases (20,141) 2,719 1,703 (413) (16,132) Charge-offs (916) (8,521) — (936) (10,373) Recoveries 120 3,346 281 431 4,178 Net (charge-offs) recoveries (796) (5,175) 281 (505) (6,195) Balance, end of period $ 108,014 $ 118,934 $ 27,280 $ 3,332 $ 257,560 Reserve for unfunded commitments Balance, beginning of period $ 10,094 $ 2,145 $ 1,710 $ 590 $ 14,539 (Recapture) provision for credit losses on unfunded commitments (3,273) 440 247 (201) (2,787) Balance, end of period 6,821 2,585 1,957 389 11,752 Total allowance for credit losses $ 114,835 $ 121,519 $ 29,237 $ 3,721 $ 269,312 Nine Months Ended September 30, 2021 (in thousands) Commercial Real Estate Commercial Residential Consumer & Other Total Allowance for credit losses on loans and leases Balance, beginning of period $ 141,710 $ 150,864 $ 27,964 $ 7,863 $ 328,401 (Recapture) provision for credit losses for loans and leases (33,199) 4,180 (1,212) (3,150) (33,381) Charge-offs (1,086) (44,228) (70) (2,983) (48,367) Recoveries 589 8,118 598 1,602 10,907 Net (charge-offs) recoveries (497) (36,110) 528 (1,381) (37,460) Balance, end of period $ 108,014 $ 118,934 $ 27,280 $ 3,332 $ 257,560 Reserve for unfunded commitments Balance, beginning of period $ 15,360 $ 2,190 $ 1,661 $ 1,075 $ 20,286 (Recapture) provision for credit losses on unfunded commitments (8,539) 395 296 (686) (8,534) Balance, end of period 6,821 2,585 1,957 389 11,752 Total allowance for credit losses $ 114,835 $ 121,519 $ 29,237 $ 3,721 $ 269,312 |
Loans and Leases Past Due and Non-Accrual Loans and Leases | The following tables present the carrying value of the loans and leases past due, by loan and lease class, as of September 30, 2022 and December 31, 2021: September 30, 2022 (in thousands) Greater than 30 to 59 Days Past Due 60 to 89 Days Past Due 90 Days or More and Accruing Total Past Due Non-Accrual (1) Current Total Loans and Leases Commercial real estate Non-owner occupied term, net $ 321 $ — $ — $ 321 $ 3,282 $ 3,842,823 $ 3,846,426 Owner occupied term, net 282 24 1 307 2,121 2,547,333 2,549,761 Multifamily, net — — — — — 5,090,661 5,090,661 Construction & development, net — — — — — 1,036,931 1,036,931 Residential development, net — — — — — 205,935 205,935 Commercial Term, net 3,743 4,073 1 7,817 3,945 2,991,662 3,003,424 Lines of credit & other, net 778 83 6 867 86 913,554 914,507 Leases & equipment finance, net 15,628 14,952 5,136 35,716 14,621 1,619,480 1,669,817 Residential Mortgage, net (2) 869 8,518 20,717 30,104 — 5,440,520 5,470,624 Home equity loans & lines, net 2,406 1,191 1,716 5,313 — 1,559,781 1,565,094 Consumer & other, net 420 250 152 822 — 153,949 154,771 Total, net of deferred fees and costs $ 24,447 $ 29,091 $ 27,729 $ 81,267 $ 24,055 $ 25,402,629 $ 25,507,951 (1) Loans and leases on non-accrual with an amortized cost basis of $24.1 million had a related allowance for credit losses of $13.1 million at September 30, 2022. (2) Includes government guaranteed mortgage loans that Umpqua has the right but not the obligation to repurchase that are past due 90 days or more, totaling $1.0 million at September 30, 2022. December 31, 2021 (in thousands) Greater than 30 to 59 Days Past Due 60 to 89 Days Past Due 90 Days or More and Accruing Total Past Due Non-Accrual (1) Current and Other Total Loans and Leases Commercial real estate Non-owner occupied term, net $ 388 $ 1,138 $ — $ 1,526 $ 3,384 $ 3,781,977 $ 3,786,887 Owner occupied term, net 101 65 1 167 2,383 2,329,872 2,332,422 Multifamily, net — — — — — 4,051,202 4,051,202 Construction & development, net — — — — — 890,338 890,338 Residential development, net — — — — — 206,990 206,990 Commercial Term, net 4,627 2,345 4 6,976 4,225 2,997,272 3,008,473 Lines of credit & other, net 300 2 357 659 — 910,074 910,733 Leases & equipment finance, net 6,806 8,951 3,799 19,556 8,873 1,439,247 1,467,676 Residential Mortgage, net 802 3,668 27,249 31,719 — 4,485,547 4,517,266 Home equity loans & lines, net 1,214 491 732 2,437 — 1,194,733 1,197,170 Consumer & other, net 396 386 194 976 — 183,047 184,023 Total, net of deferred fees and costs $ 14,634 $ 17,046 $ 32,336 $ 64,016 $ 18,865 $ 22,470,299 $ 22,553,180 (1) Loans and leases on non-accrual with an amortized cost basis of $18.9 million had a related allowance for credit losses of $7.5 million at December 31, 2021. |
Collateral Dependent Loans and Leases | The following table summarizes the amortized cost basis of the collateral dependent loans and leases by the type of collateral securing the assets as of September 30, 2022. There have been no significant changes in the level of collateralization from the prior periods. (in thousands) Residential Real Estate Commercial Real Estate General Business Assets Other Total Commercial real estate Non-owner occupied term, net $ — $ 3,059 $ — $ — $ 3,059 Owner occupied term, net — 1,879 — — 1,879 Commercial Term, net 1,092 520 1,922 — 3,534 Line of credit & other, net — — 86 1 87 Leases & equipment finance, net — — 14,621 — 14,621 Residential Mortgage, net 38,051 — — — 38,051 Home equity loans & lines, net 3,497 — — — 3,497 Total net of deferred fees and costs $ 42,640 $ 5,458 $ 16,629 $ 1 $ 64,728 |
Schedule Of Troubled Debt Restructurings | The following tables present TDR loans by accrual versus non-accrual status and by portfolio segment as of September 30, 2022 and December 31, 2021: September 30, 2022 (in thousands) Accrual Status Non-Accrual Status Total Modification # of Contracts Commercial real estate, net $ 278 $ 32 $ 310 3 Residential, net 6,785 — 6,785 42 Consumer & other, net 13 — 13 2 Total, net of deferred fees and costs $ 7,076 $ 32 $ 7,108 47 December 31, 2021 (in thousands) Accrual Status Non-Accrual Status Total Modification # of Contracts Commercial real estate, net $ 1,031 $ 59 $ 1,090 5 Residential, net 5,641 — 5,641 35 Consumer & other, net 22 — 22 3 Total, net of deferred fees and costs $ 6,694 $ 59 $ 6,753 43 The following table presents loans that were determined to be TDRs during the three and nine months ended September 30, 2022 and 2021: Three Months Ended Nine Months Ended (in thousands) September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Commercial real estate, net $ 278 $ — $ 278 $ — Residential, net $ 1,405 $ 1,661 5,611 5,903 Consumer & other, net — — — 36 Total, net of deferred fees and costs $ 1,683 $ 1,661 $ 5,889 $ 5,939 |
Internal Risk Rating By Loan Class | The following tables represent the amortized costs basis of the loans and leases by credit classification and vintage year by loan and lease class of financing receivable as of September 30, 2022 and December 31, 2021: (in thousands) Term Loans Amortized Cost Basis by Origination Year Revolving Loans Amortized Cost Basis Revolving to Non-Revolving Loans Amortized Cost September 30, 2022 2022 2021 2020 2019 2018 Prior Total Commercial real estate: Non-owner occupied term, net Credit quality indicator: Pass/Watch $ 611,283 $ 779,385 $ 394,345 $ 572,015 $ 396,511 $ 1,003,038 $ 1,015 $ 4,502 $ 3,762,094 Special mention 893 18,188 373 4,628 4,028 10,825 — — 38,935 Substandard 2,559 797 1,960 — 33,202 6,583 — — 45,101 Doubtful — — — — — 52 — — 52 Loss — — — — — 244 — — 244 Total non-owner occupied term, net $ 614,735 $ 798,370 $ 396,678 $ 576,643 $ 433,741 $ 1,020,742 $ 1,015 $ 4,502 $ 3,846,426 Owner occupied term, net Credit quality indicator: Pass/Watch $ 558,055 $ 562,282 $ 188,825 $ 333,328 $ 214,471 $ 641,716 $ 4,532 $ 119 $ 2,503,328 Special mention 2,103 — — 3,483 12,163 11,688 — — 29,437 Substandard — 1,658 404 660 1,362 12,808 — — 16,892 Doubtful — — — — — — — — — Loss — — — — — 104 — — 104 Total owner occupied term, net $ 560,158 $ 563,940 $ 189,229 $ 337,471 $ 227,996 $ 666,316 $ 4,532 $ 119 $ 2,549,761 Multifamily, net Credit quality indicator: Pass/Watch $ 1,641,219 $ 1,619,672 $ 366,586 $ 656,951 $ 236,674 $ 541,995 $ 24,649 $ 2,915 $ 5,090,661 Special mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Loss — — — — — — — — — Total multifamily, net $ 1,641,219 $ 1,619,672 $ 366,586 $ 656,951 $ 236,674 $ 541,995 $ 24,649 $ 2,915 $ 5,090,661 Construction & development, net Credit quality indicator: Pass/Watch $ 133,105 $ 471,095 $ 247,657 $ 112,484 $ 27,875 $ 18,228 $ 2,390 $ — $ 1,012,834 Special mention — 12,571 — 11,526 — — — — 24,097 Substandard — — — — — — — — — Doubtful — — — — — — — — — Loss — — — — — — — — — Total construction & development, net $ 133,105 $ 483,666 $ 247,657 $ 124,010 $ 27,875 $ 18,228 $ 2,390 $ — $ 1,036,931 Residential development, net Credit quality indicator: Pass/Watch $ 27,328 $ 18,597 $ 1,250 $ — $ — $ — $ 158,760 $ — $ 205,935 Special mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Loss — — — — — — — — — Total residential development, net $ 27,328 $ 18,597 $ 1,250 $ — $ — $ — $ 158,760 $ — $ 205,935 Total commercial real estate $ 2,976,545 $ 3,484,245 $ 1,201,400 $ 1,695,075 $ 926,286 $ 2,247,281 $ 191,346 $ 7,536 $ 12,729,714 (in thousands) Term Loans Amortized Cost Basis by Origination Year Revolving Loans Amortized Cost Basis Revolving to Non-Revolving Loans Amortized Cost September 30, 2022 2022 2021 2020 2019 2018 Prior Total Commercial: Term, net Credit quality indicator: Pass/Watch $ 639,802 $ 719,847 $ 186,897 $ 174,050 $ 136,346 $ 297,180 $ 698,264 $ 45,295 $ 2,897,681 Special mention — 3,459 23 94 1,612 30,388 — 869 36,445 Substandard — 3,099 8,123 7 26,854 2,448 26,880 813 68,224 Doubtful — — 657 — — — — — 657 Loss — — — — 417 — — — 417 Total term, net $ 639,802 $ 726,405 $ 195,700 $ 174,151 $ 165,229 $ 330,016 $ 725,144 $ 46,977 $ 3,003,424 Lines of credit & other, net Credit quality indicator: Pass/Watch $ 41,018 $ 8,347 $ 4,909 $ 15,459 $ 8,967 $ 1,298 $ 793,610 $ 16,818 $ 890,426 Special mention — — — — — — 7,637 273 7,910 Substandard — 356 — — — 1,103 7,933 6,779 16,171 Doubtful — — — — — — — — — Loss — — — — — — — — — Total lines of credit & other, net $ 41,018 $ 8,703 $ 4,909 $ 15,459 $ 8,967 $ 2,401 $ 809,180 $ 23,870 $ 914,507 Leases & equipment finance, net Credit quality indicator: Pass/Watch $ 662,587 $ 413,258 $ 224,418 $ 176,694 $ 79,557 $ 47,081 $ — $ — $ 1,603,595 Special mention 4,797 6,434 2,334 2,953 1,146 1,171 — — 18,835 Substandard 6,292 7,367 3,388 2,502 1,687 294 — — 21,530 Doubtful 6,053 10,491 3,665 3,299 893 223 — — 24,624 Loss 414 476 163 130 38 12 — — 1,233 Total leases & equipment finance, net $ 680,143 $ 438,026 $ 233,968 $ 185,578 $ 83,321 $ 48,781 $ — $ — $ 1,669,817 Total commercial $ 1,360,963 $ 1,173,134 $ 434,577 $ 375,188 $ 257,517 $ 381,198 $ 1,534,324 $ 70,847 $ 5,587,748 Residential: Mortgage, net Credit quality indicator: Pass/Watch $ 1,267,843 $ 2,376,164 $ 491,918 $ 478,631 $ 148,352 $ 678,634 $ — $ — $ 5,441,542 Special mention 433 595 1,546 901 1,016 4,896 — — 9,387 Substandard — 2,246 1,081 2,858 1,936 11,098 — — 19,219 Doubtful — — — — — — — — — Loss — 233 — 237 — 6 — — 476 Total mortgage, net $ 1,268,276 $ 2,379,238 $ 494,545 $ 482,627 $ 151,304 $ 694,634 $ — $ — $ 5,470,624 Home equity loans & lines, net Credit quality indicator: Pass/Watch $ 1,028 $ 652 $ — $ — $ 17 $ 8,243 $ 1,519,724 $ 30,115 $ 1,559,779 Special mention — — — — — 63 2,955 580 3,598 Substandard — — — — — 133 625 484 1,242 Doubtful — — — — — — — — — Loss — — — — — 52 193 230 475 Total home equity loans & lines, net $ 1,028 $ 652 $ — $ — $ 17 $ 8,491 $ 1,523,497 $ 31,409 $ 1,565,094 Total residential $ 1,269,304 $ 2,379,890 $ 494,545 $ 482,627 $ 151,321 $ 703,125 $ 1,523,497 $ 31,409 $ 7,035,718 (in thousands) Term Loans Amortized Cost Basis by Origination Year Revolving Loans Amortized Cost Basis Revolving to Non-Revolving Loans Amortized Cost September 30, 2022 2022 2021 2020 2019 2018 Prior Total Consumer & other, net: Credit quality indicator: Pass/Watch $ 14,687 $ 8,542 $ 7,593 $ 7,282 $ 3,139 $ 5,076 $ 106,881 $ 753 $ 153,953 Special mention 10 9 21 33 24 182 364 28 671 Substandard — — 2 7 27 23 66 15 140 Doubtful — — — — — — — — — Loss — — — — — 7 — — 7 Total consumer & other, net $ 14,697 $ 8,551 $ 7,616 $ 7,322 $ 3,190 $ 5,288 $ 107,311 $ 796 $ 154,771 Grand total $ 5,621,509 $ 7,045,820 $ 2,138,138 $ 2,560,212 $ 1,338,314 $ 3,336,892 $ 3,356,478 $ 110,588 $ 25,507,951 (in thousands) Term Loans Amortized Cost Basis by Origination Year Revolving Loans Amortized Cost Basis Revolving to Non-Revolving Loans Amortized Cost December 31, 2021 2021 2020 2019 2018 2017 Prior Total Commercial real estate: Non-owner occupied term, net Credit quality indicator: Pass/Watch $ 901,230 $ 434,875 $ 618,879 $ 431,098 $ 308,872 $ 942,501 $ 1,313 $ 3,679 $ 3,642,447 Special mention — 1,311 1,411 12,252 844 38,268 — — 54,086 Substandard 19,270 2,214 2,605 53,312 2,990 9,641 — — 90,032 Doubtful — — — — — 78 — — 78 Loss — — — — — 244 — — 244 Total non-owner occupied term, net $ 920,500 $ 438,400 $ 622,895 $ 496,662 $ 312,706 $ 990,732 $ 1,313 $ 3,679 $ 3,786,887 Owner occupied term, net Credit quality indicator: Pass/Watch $ 594,677 $ 237,814 $ 369,483 $ 245,707 $ 227,201 $ 601,934 $ 5,017 $ 737 $ 2,282,570 Special mention — — 7,445 10,739 4,936 12,219 — — 35,339 Substandard — 897 674 1,815 — 10,697 — — 14,083 Doubtful — — — — — — — — — Loss — — — — — 430 — — 430 Total owner occupied term, net $ 594,677 $ 238,711 $ 377,602 $ 258,261 $ 232,137 $ 625,280 $ 5,017 $ 737 $ 2,332,422 Multifamily, net Credit quality indicator: Pass/Watch $ 1,700,221 $ 380,506 $ 748,207 $ 346,192 $ 334,688 $ 510,385 $ 26,475 $ 2,931 $ 4,049,605 Special mention — — — — — 1,597 — — 1,597 Substandard — — — — — — — — — Doubtful — — — — — — — — — Loss — — — — — — — — — Total multifamily, net $ 1,700,221 $ 380,506 $ 748,207 $ 346,192 $ 334,688 $ 511,982 $ 26,475 $ 2,931 $ 4,051,202 (in thousands) Term Loans Amortized Cost Basis by Origination Year Revolving Loans Amortized Cost Basis Revolving to Non-Revolving Loans Amortized Cost December 31, 2021 2021 2020 2019 2018 2017 Prior Total Construction & development, net Credit quality indicator: Pass/Watch $ 264,489 $ 310,207 $ 237,435 $ 48,911 $ 18,375 $ 136 $ 2,382 $ — $ 881,935 Special mention — — — — — — — — — Substandard — — — 8,403 — — — — 8,403 Doubtful — — — — — — — — — Loss — — — — — — — — — Total construction & development, net $ 264,489 $ 310,207 $ 237,435 $ 57,314 $ 18,375 $ 136 $ 2,382 $ — $ 890,338 Residential development, net Credit quality indicator: Pass/Watch $ 28,744 $ 15,623 $ — $ — $ — $ — $ 156,587 $ 6,036 $ 206,990 Special mention — — — — — — — — — Substandard — — — — — — — — — Doubtful — — — — — — — — — Loss — — — — — — — — — Total residential development, net $ 28,744 $ 15,623 $ — $ — $ — $ — $ 156,587 $ 6,036 $ 206,990 Total commercial real estate $ 3,508,631 $ 1,383,447 $ 1,986,139 $ 1,158,429 $ 897,906 $ 2,128,130 $ 191,774 $ 13,383 $ 11,267,839 Commercial: Term, net Credit quality indicator: Pass/Watch $ 1,102,310 $ 306,969 $ 200,352 $ 179,217 $ 206,405 $ 215,105 $ 699,230 $ 14,075 $ 2,923,663 Special mention — 4,454 97 28,971 587 825 27,909 1,501 64,344 Substandard 1,217 9,827 — 1,095 2,648 1,264 — 3,189 19,240 Doubtful — — — — 809 — — — 809 Loss — — — 417 — — — — 417 Total term, net $ 1,103,527 $ 321,250 $ 200,449 $ 209,700 $ 210,449 $ 217,194 $ 727,139 $ 18,765 $ 3,008,473 Lines of credit & other, net Credit quality indicator: Pass/Watch $ 31,836 $ 9,170 $ 16,529 $ 10,945 $ 334 $ 1,605 $ 812,207 $ 8,498 $ 891,124 Special mention — — — — — — 8,830 752 9,582 Substandard 714 414 — — — 1,118 3,238 4,540 10,024 Doubtful — — — — — — 1 — 1 Loss — — — — — — 1 1 2 Total lines of credit & other, net $ 32,550 $ 9,584 $ 16,529 $ 10,945 $ 334 $ 2,723 $ 824,277 $ 13,791 $ 910,733 Leases & equipment finance, net Credit quality indicator: Pass/Watch $ 599,301 $ 325,379 $ 282,101 $ 138,627 $ 43,950 $ 38,965 $ — $ — $ 1,428,323 Special mention 2,512 1,965 1,782 1,690 572 130 — — 8,651 Substandard 4,280 7,333 2,682 1,448 578 160 — — 16,481 Doubtful 3,781 3,232 3,238 1,343 663 636 — — 12,893 Loss 614 258 187 84 179 6 — — 1,328 Total leases & equipment finance, net $ 610,488 $ 338,167 $ 289,990 $ 143,192 $ 45,942 $ 39,897 $ — $ — $ 1,467,676 Total commercial $ 1,746,565 $ 669,001 $ 506,968 $ 363,837 $ 256,725 $ 259,814 $ 1,551,416 $ 32,556 $ 5,386,882 (in thousands) Term Loans Amortized Cost Basis by Origination Year Revolving Loans Amortized Cost Basis Revolving to Non-Revolving Loans Amortized Cost December 31, 2021 2021 2020 2019 2018 2017 Prior Total Residential: Mortgage, net Credit quality indicator: Pass/Watch $ 2,252,704 $ 606,671 $ 585,923 $ 190,673 $ 209,990 $ 639,585 $ — $ — $ 4,485,546 Special mention 372 — 555 81 632 2,830 — — 4,470 Substandard — 1,379 4,430 1,147 3,098 15,692 — — 25,746 Doubtful — — — — — — — — — Loss — — 907 — — 597 — — 1,504 Total mortgage, net $ 2,253,076 $ 608,050 $ 591,815 $ 191,901 $ 213,720 $ 658,704 $ — $ — $ 4,517,266 Home equity loans & lines, net Credit quality indicator: Pass/Watch $ 972 $ — $ — $ 18 $ — $ 10,973 $ 1,151,063 $ 31,708 $ 1,194,734 Special mention — — — — — 102 1,355 248 1,705 Substandard — — — — — 96 280 213 589 Doubtful — — — — — — — — — Loss — — — — — 36 42 64 142 Total home equity loans & lines, net $ 972 $ — $ — $ 18 $ — $ 11,207 $ 1,152,740 $ 32,233 $ 1,197,170 Total residential $ 2,254,048 $ 608,050 $ 591,815 $ 191,919 $ 213,720 $ 669,911 $ 1,152,740 $ 32,233 $ 5,714,436 Consumer & other, net: Credit quality indicator: Pass/Watch $ 15,375 $ 10,955 $ 12,167 $ 5,395 $ 3,983 $ 5,070 $ 128,264 $ 1,835 $ 183,044 Special mention — 23 41 1 113 113 391 101 783 Substandard — 3 15 — 17 25 55 71 186 Doubtful — — — — — — — — — Loss — — — — — 7 3 — 10 Total consumer & other, net $ 15,375 $ 10,981 $ 12,223 $ 5,396 $ 4,113 $ 5,215 $ 128,713 $ 2,007 $ 184,023 Grand total $ 7,524,619 $ 2,671,479 $ 3,097,145 $ 1,719,581 $ 1,372,464 $ 3,063,070 $ 3,024,643 $ 80,179 $ 22,553,180 |
Residential Mortgage Servicin_2
Residential Mortgage Servicing Rights (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Transfers and Servicing [Abstract] | |
Schedule Of Changes In Mortgage Servicing Rights | The following table presents the changes in the Company's residential MSR for the three and nine months ended September 30, 2022 and 2021: Three Months Ended Nine Months Ended (in thousands) September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Balance, beginning of period $ 179,558 $ 102,699 $ 123,615 $ 92,907 Additions for new MSR capitalized 5,194 8,450 20,397 30,845 Changes in fair value: Changes due to collection/realization of expected cash flows over time (4,978) (4,681) (15,286) (13,592) Changes due to valuation inputs or assumptions (1) 16,403 (634) 67,451 (4,326) Balance, end of period $ 196,177 $ 105,834 $ 196,177 $ 105,834 (1) The change in valuation inputs and assumptions principally reflect changes in discount rates and prepayment speeds, which are primarily affected by changes in interest rates. |
Schedule Of Other Information Servicing Loan Portfolio | Information related to the serviced loan portfolio as of September 30, 2022 and December 31, 2021 is as follows: (dollars in thousands) September 30, 2022 December 31, 2021 Balance of loans serviced for others $ 12,997,911 $ 12,755,671 MSR as a percentage of serviced loans 1.51 % 0.97 % |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule Of Commitments And Contingencies | The following table presents a summary of the Bank's commitments and contingent liabilities: (in thousands) September 30, 2022 Commitments to extend credit $ 8,021,552 Forward sales commitments $ 247,469 Commitments to originate residential mortgage loans held for sale $ 131,443 Standby letters of credit $ 125,320 |
Derivatives (Tables)
Derivatives (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Summary Of Types Of Derivatives, Separately By Assets And Liabilities And Fair Value Of Derivatives | The following table summarizes the types of derivatives, separately by assets and liabilities, and the fair values of such derivatives as of September 30, 2022 and December 31, 2021: (in thousands) Asset Derivatives Liability Derivatives Derivatives not designated as hedging instrument September 30, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Interest rate lock commitments $ 24 $ 4,641 $ 2,290 $ — Interest rate futures — — 10,359 — Interest rate forward sales commitments 9,740 615 5 699 Interest rate swaps 4,479 171,827 282,087 8,671 Foreign currency derivatives 586 340 481 305 Total derivative assets and liabilities $ 14,829 $ 177,423 $ 295,222 $ 9,675 |
Summary Of Types Of Derivatives And Gains (Losses) Recorded | The following table summarizes the types of derivatives and the gains (losses) recorded during the three and nine months ended September 30, 2022 and 2021: (in thousands) Three Months Ended Nine Months Ended Derivatives not designated as hedging instrument September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Interest rate lock commitments $ (2,149) $ (4,952) $ (6,907) $ (19,886) Interest rate futures (14,128) — (14,128) — Interest rate forward sales commitments 10,017 (2,550) 49,468 15,336 Interest rate swaps 4,194 1,429 18,578 8,698 Foreign currency derivatives 779 718 2,283 1,985 Total derivative (losses) gains $ (1,287) $ (5,355) $ 49,294 $ 6,133 |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings Per Common Share | The following is a computation of basic and diluted earnings per common share for the three and nine months ended September 30, 2022 and 2021: Three Months Ended Nine Months Ended (in thousands, except per share data) September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Net income $ 84,040 $ 108,066 $ 253,788 $ 331,946 Weighted average number of common shares outstanding - basic 217,051 218,416 216,955 219,791 Effect of potentially dilutive common shares (1) 335 562 398 487 Weighted average number of common shares outstanding - diluted 217,386 218,978 217,353 220,278 Earnings per common share: Basic $ 0.39 $ 0.49 $ 1.17 $ 1.51 Diluted $ 0.39 $ 0.49 $ 1.17 $ 1.51 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The following table represents the weighted average outstanding restricted shares that were not included in the computation of diluted earnings per share because their effect would be anti-dilutive for the three and nine months ended September 30, 2022 and 2021: Three Months Ended Nine Months Ended (in thousands) September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Restricted stock awards 502 — 395 73 |
Segment Information (Tables)
Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | Summarized financial information concerning the Company's reportable segments and the reconciliation to the consolidated financial results is shown in the following tables: Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 (in thousands) Core Banking Mortgage Banking Consolidated Core Banking Mortgage Banking Consolidated Net interest income $ 286,532 $ 1,072 $ 287,604 $ 232,348 $ 2,726 $ 235,074 Provision (recapture) for credit losses 27,572 — 27,572 (18,919) — (18,919) Non-interest income Residential mortgage banking revenue: Origination and sale — 10,515 10,515 — 30,293 30,293 Servicing — 9,529 9,529 — 9,172 9,172 Change in fair value of MSR asset: Changes due to collection/realization of expected cash flows over time — (4,978) (4,978) — (4,681) (4,681) Changes due to valuation inputs or assumptions — 16,403 16,403 — (634) (634) MSR hedge loss — (14,128) (14,128) — — — Loss on equity securities, net (2,647) — (2,647) (343) — (343) Gain on swap derivatives, net 4,194 — 4,194 1,429 — 1,429 Change in fair value of certain loans held for investment (26,397) — (26,397) 3,432 — 3,432 Non-interest income (excluding above items) 36,769 185 36,954 34,849 188 35,037 Total non-interest income 11,919 17,526 29,445 39,367 34,338 73,705 Non-interest expense Merger related expenses 769 — 769 — — — Exit and disposal costs 1,364 — 1,364 3,813 — 3,813 Non-interest expense (excluding above items) 154,320 21,511 175,831 146,931 33,009 179,940 Allocated expenses, net (1) (39) 39 — 3,680 (3,680) — Total non-interest expense 156,414 21,550 177,964 154,424 29,329 183,753 Income (loss) before income taxes 114,465 (2,952) 111,513 136,210 7,735 143,945 Provision (benefit) for income taxes 28,212 (739) 27,473 33,945 1,934 35,879 Net income (loss) $ 86,253 $ (2,213) $ 84,040 $ 102,265 $ 5,801 $ 108,066 (1) Represents the internal charges for centrally provided support services and other corporate overhead to the Mortgage Banking segment, net of allocations from the Mortgage Banking segment to Core Banking for new portfolio loan originations and portfolio servicing costs. Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 (in thousands) Core Banking Mortgage Banking Consolidated Core Banking Mortgage Banking Consolidated Net interest income $ 760,628 $ 3,909 $ 764,537 $ 676,837 $ 9,431 $ 686,268 Provision (recapture) for credit losses 51,068 — 51,068 (41,915) — (41,915) Non-interest income Residential mortgage banking revenue: Origination and sale — 42,460 42,460 — 134,165 134,165 Servicing — 28,174 28,174 — 27,379 27,379 Changes due to collection/realization of expected cash flows over time — (15,286) (15,286) — (13,592) (13,592) Changes due to valuation inputs or assumptions — 67,451 67,451 — (4,326) (4,326) MSR hedge loss — (14,128) (14,128) — — — Gain on sale of debt securities, net 2 — 2 4 — 4 Loss on equity securities, net (7,383) — (7,383) (1,045) — (1,045) Gain on swap derivatives, net 18,578 — 18,578 8,698 — 8,698 Change in fair value of certain loans held for investment (62,656) — (62,656) 5,704 — 5,704 Non-interest income (excluding above items) 106,880 557 107,437 115,913 680 116,593 Total non-interest income 55,421 109,228 164,649 129,274 144,306 273,580 Non-interest expense Merger related expenses 5,719 — 5,719 — — — Exit and disposal costs 4,839 — 4,839 9,741 — 9,741 Non-interest expense (excluding above items) 451,689 77,721 529,410 438,969 112,035 551,004 Allocated expenses, net (1) 7,398 (7,398) — 3,860 (3,860) — Total non-interest expense 469,645 70,323 539,968 452,570 108,175 560,745 Income before income taxes 295,336 42,814 338,150 395,456 45,562 441,018 Provision for income taxes 73,659 10,703 84,362 97,681 11,391 109,072 Net income $ 221,677 $ 32,111 $ 253,788 $ 297,775 $ 34,171 $ 331,946 (1) Represents the internal charges for centrally provided support services and other corporate overhead to the Mortgage Banking segment, net of allocations from the Mortgage Banking segment to Core Banking for new portfolio loan originations and portfolio servicing costs. September 30, 2022 December 31, 2021 (in thousands) Core Banking Mortgage Banking Consolidated Core Banking Mortgage Banking Consolidated Total assets $ 31,100,700 $ 371,260 $ 31,471,960 $ 30,155,058 $ 485,878 $ 30,640,936 Loans held for sale $ — $ 148,275 $ 148,275 $ — $ 353,105 $ 353,105 Total loans and leases $ 25,507,951 $ — $ 25,507,951 $ 22,553,180 $ — $ 22,553,180 Total deposits $ 26,588,217 $ 228,890 $ 26,817,107 $ 26,370,568 $ 224,117 $ 26,594,685 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Value, by Balance Sheet Grouping | The following table presents estimated fair values of the Company's financial instruments as of September 30, 2022 and December 31, 2021, whether or not recognized or recorded at fair value in the Condensed Consolidated Balance Sheets : September 30, 2022 December 31, 2021 (in thousands) Level Carrying Value Fair Value Carrying Value Fair Value Financial assets: Cash and cash equivalents 1 $ 1,553,859 $ 1,553,859 $ 2,761,621 $ 2,761,621 Equity and other investment securities 1,2 72,277 72,277 81,214 81,214 Investment securities available for sale 1,2 3,136,391 3,136,391 3,870,435 3,870,435 Investment securities held to maturity 3 2,547 3,287 2,744 3,514 Loans held for sale 2 148,275 148,275 353,105 353,105 Loans and leases, net 2,3 25,224,886 24,201,550 22,304,768 22,356,321 Restricted equity securities 1 40,993 40,993 10,916 10,916 Residential mortgage servicing rights 3 196,177 196,177 123,615 123,615 Bank owned life insurance 1 329,699 329,699 327,745 327,745 Derivatives 2,3 14,829 14,829 177,423 177,423 Financial liabilities: Deposits 1,2 $ 26,817,107 $ 26,780,203 $ 26,594,685 $ 26,593,521 Securities sold under agreements to repurchase 2 383,569 383,569 492,247 492,247 Borrowings 2 756,214 755,820 6,329 7,073 Junior subordinated debentures, at fair value 3 325,744 325,744 293,081 293,081 Junior subordinated debentures, at amortized cost 3 87,870 80,337 88,041 75,199 Derivatives 2,3 295,222 295,222 9,675 9,675 |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following tables present information about the Company's assets and liabilities measured at fair value on a recurring basis as of September 30, 2022 and December 31, 2021: (in thousands) September 30, 2022 Description Total Level 1 Level 2 Level 3 Financial assets: Equity and other investment securities Investments in mutual funds and other securities $ 61,309 $ 43,972 $ 17,337 $ — Equity securities held in rabbi trusts 10,968 10,968 — — Investment securities available for sale U.S. Treasury and agencies 830,813 125,510 705,303 — Obligations of states and political subdivisions 269,904 — 269,904 — Mortgage-backed securities and collateralized mortgage obligations 2,035,674 — 2,035,674 — Loans held for sale, at fair value 148,275 — 148,275 — Loans and leases, at fair value 284,900 — 284,900 — Residential mortgage servicing rights, at fair value 196,177 — — 196,177 Derivatives Interest rate lock commitments 24 — — 24 Interest rate forward sales commitments 9,740 — 9,740 — Interest rate swaps 4,479 — 4,479 — Foreign currency derivatives 586 — 586 — Total assets measured at fair value $ 3,852,849 $ 180,450 $ 3,476,198 $ 196,201 Financial liabilities: Junior subordinated debentures, at fair value $ 325,744 $ — $ — $ 325,744 Derivatives Interest rate lock commitments 2,290 — — 2,290 Interest rate futures 10,359 — 10,359 — Interest rate forward sales commitments 5 — 5 — Interest rate swaps 282,087 — 282,087 — Foreign currency derivatives 481 — 481 — Total liabilities measured at fair value $ 620,966 $ — $ 292,932 $ 328,034 (in thousands) December 31, 2021 Description Total Level 1 Level 2 Level 3 Financial assets: Equity and other investment securities Investments in mutual funds and other securities $ 68,692 $ 51,355 $ 17,337 $ — Equity securities held in rabbi trusts 12,522 12,522 — — Investment securities available for sale U.S. Treasury and agencies 918,053 89,038 829,015 — Obligations of states and political subdivisions 330,784 — 330,784 — Mortgage-backed securities and collateralized mortgage obligations 2,621,598 — 2,621,598 — Loans held for sale, at fair value 353,105 — 353,105 — Loans and leases, at fair value 345,634 — 345,634 — Residential mortgage servicing rights, at fair value 123,615 — — 123,615 Derivatives Interest rate lock commitments 4,641 — — 4,641 Interest rate forward sales commitments 615 — 615 — Interest rate swaps 171,827 — 171,827 — Foreign currency derivatives 340 — 340 — Total assets measured at fair value $ 4,951,426 $ 152,915 $ 4,670,255 $ 128,256 Financial liabilities: Junior subordinated debentures, at fair value $ 293,081 $ — $ — $ 293,081 Derivatives Interest rate forward sales commitments 699 — 699 — Interest rate swaps 8,671 — 8,671 — Foreign currency derivatives 305 — 305 — Total liabilities measured at fair value $ 302,756 $ — $ 9,675 $ 293,081 |
Fair Value Measurement Inputs and Valuation Techniques | The following table provides a description of the valuation technique, significant unobservable inputs, and qualitative information about the unobservable inputs for the Company's assets and liabilities classified as Level 3 and measured at fair value on a recurring basis at September 30, 2022: Financial Instrument Fair Value Valuation Technique Unobservable Input Range of Inputs Weighted Average Assets: Residential mortgage servicing rights $ 196,177 Discounted cash flow Constant prepayment rate 6.06% - 20.75% 6.34% Discount rate 9.50% - 15.94% 10.05% Liabilities: Interest rate lock commitments, net $ 2,266 Internal pricing model Pull-through rate 12.53% - 100.00% 91.86% Junior subordinated debentures $ 325,744 Discounted cash flow Credit spread 1.93% - 3.77% 2.93% |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | The following table provides a reconciliation of assets and liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring basis during the three and nine months ended September 30, 2022 and 2021: Three Months Ended Three Months Ended September 30, 2022 September 30, 2021 (in thousands) Residential mortgage servicing rights Interest rate lock commitments, net Junior subordinated debentures, at fair value Residential mortgage servicing rights Interest rate lock commitments, net Junior subordinated debentures, at fair value Beginning balance $ 179,558 $ (117) $ (321,268) $ 102,699 $ 13,210 $ (287,723) Change included in earnings 11,425 (1,072) (4,348) (5,315) 1,301 (2,344) Change in fair values included in comprehensive income/loss — — (4,043) — — (11,946) Purchases and issuances 5,194 1,376 — 8,450 16,007 — Sales and settlements — (2,453) 3,915 — (22,260) 2,505 Ending balance $ 196,177 $ (2,266) $ (325,744) $ 105,834 $ 8,258 $ (299,508) Change in unrealized gains or losses for the period included in earnings for assets and liabilities held at end of period $ 16,403 $ (2,266) $ (4,348) $ (634) $ 8,258 $ (2,344) Change in unrealized gains or losses for the period included in other comprehensive income for assets and liabilities held at end of period $ — $ — $ (4,043) $ — $ — $ (11,946) Nine Months Ended Nine Months Ended September 30, 2022 September 30, 2021 (in thousands) Residential mortgage servicing rights Interest rate lock commitments, net Junior subordinated debentures, at fair value Residential mortgage servicing rights Interest rate lock commitments, net Junior subordinated debentures, at fair value Beginning balance $ 123,615 $ 4,641 $ (293,081) $ 92,907 $ 28,144 $ (255,217) Change included in earnings 52,165 (7,779) (9,941) (17,918) 199 (7,087) Change in fair values included in comprehensive income/loss — — (31,810) — — (44,504) Purchases and issuances 20,397 9,074 — 30,845 67,730 — Sales and settlements — (8,202) 9,088 — (87,815) 7,300 Ending balance $ 196,177 $ (2,266) $ (325,744) $ 105,834 $ 8,258 $ (299,508) Change in unrealized gains or losses for the period included in earnings for assets held at end of period $ 67,451 $ (2,266) $ (9,941) $ (4,326) $ 8,258 $ (7,087) Change in unrealized gains or losses for the period included in other comprehensive income for assets held at end of period $ — $ — $ (31,810) $ — $ — $ (44,504) |
Fair Value Measurements, Nonrecurring | The following table presents information about the Company's assets and liabilities measured at fair value on a nonrecurring basis for which a nonrecurring change in fair value has been recorded during the reporting period. The amounts disclosed below represent the fair values at the time the nonrecurring fair value measurements were made, and not necessarily the fair value as of the dates reported upon. September 30, 2022 (in thousands) Total Level 1 Level 2 Level 3 Loans and leases $ 1,845 $ — $ — $ 1,845 Total assets measured at fair value on a nonrecurring basis $ 1,845 $ — $ — $ 1,845 December 31, 2021 (in thousands) Total Level 1 Level 2 Level 3 Loans and leases $ 4,129 $ — $ — $ 4,129 Total assets measured at fair value on a nonrecurring basis $ 4,129 $ — $ — $ 4,129 |
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings | The following table presents the losses resulting from nonrecurring fair value adjustments for the three and nine months ended September 30, 2022 and 2021: Three Months Ended Nine Months Ended (in thousands) September 30, 2022 September 30, 2021 September 30, 2022 September 30, 2021 Loans and leases $ 8,621 $ 8,470 $ 25,153 $ 43,480 Total losses from nonrecurring measurements $ 8,621 $ 8,470 $ 25,153 $ 43,480 |
Fair Value Option, Disclosures | The following table presents the difference between the aggregate fair value and the aggregate unpaid principal balance of loans held for sale and loans held for investment accounted for under the fair value option as of September 30, 2022 and December 31, 2021: September 30, 2022 December 31, 2021 (in thousands) Fair Value Aggregate Unpaid Principal Balance Fair Value Less Aggregate Unpaid Principal Balance Fair Value Aggregate Unpaid Principal Balance Fair Value Less Aggregate Unpaid Principal Balance Loans held for sale $ 148,275 $ 150,794 $ (2,519) $ 353,105 $ 341,008 $ 12,097 Loans $ 284,900 $ 336,980 $ (52,080) $ 345,634 $ 335,058 $ 10,576 |
Investment Securities (Amortize
Investment Securities (Amortized Cost, Unrealized Gains And Losses, And Fair Value Of Investment Securities) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Investment Holdings [Line Items] | ||
Available-for-sale securities, amortized cost | $ 3,706,094 | $ 3,864,355 |
Available-for-sale securities, unrealized gains | 81 | 58,106 |
Available-for-sale securities, unrealized losses | (569,784) | (52,026) |
Available for sale, at fair value | 3,136,391 | 3,870,435 |
Investment securities held to maturity | 2,547 | 2,744 |
Held-to-maturity securities, unrealized gains | 740 | 770 |
Held-to-maturity securities, unrealized losses | 0 | 0 |
Held-to-maturity securities, fair value | 3,287 | 3,514 |
U.S. Treasury and agencies | ||
Investment Holdings [Line Items] | ||
Available-for-sale securities, amortized cost | 935,469 | 894,969 |
Available-for-sale securities, unrealized gains | 0 | 27,279 |
Available-for-sale securities, unrealized losses | (104,656) | (4,195) |
Available for sale, at fair value | 830,813 | 918,053 |
Obligations of states and political subdivisions | ||
Investment Holdings [Line Items] | ||
Available-for-sale securities, amortized cost | 304,585 | 320,338 |
Available-for-sale securities, unrealized gains | 80 | 11,734 |
Available-for-sale securities, unrealized losses | (34,761) | (1,288) |
Available for sale, at fair value | 269,904 | 330,784 |
Mortgage-backed securities and collateralized mortgage obligations | ||
Investment Holdings [Line Items] | ||
Available-for-sale securities, amortized cost | 2,466,040 | 2,649,048 |
Available-for-sale securities, unrealized gains | 1 | 19,093 |
Available-for-sale securities, unrealized losses | (430,367) | (46,543) |
Available for sale, at fair value | 2,035,674 | 2,621,598 |
Investment securities held to maturity | 2,547 | 2,744 |
Held-to-maturity securities, unrealized gains | 740 | 770 |
Held-to-maturity securities, unrealized losses | 0 | 0 |
Held-to-maturity securities, fair value | $ 3,287 | $ 3,514 |
Investment Securities (Narrativ
Investment Securities (Narrative) (Details) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Debt Securities [Member] | ||
Marketable Securities [Line Items] | ||
Interest Receivable | $ 12.3 | $ 10.4 |
Investment Securities (Schedule
Investment Securities (Schedule Of Fair Value And Unrealized Losses Of Securities) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Investment Holdings [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 1,908,718 | $ 2,050,017 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 249,339 | 44,481 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 1,213,762 | 160,483 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 320,445 | 7,545 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 3,122,480 | 2,210,500 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 569,784 | 52,026 |
U.S. Treasury and agencies | ||
Investment Holdings [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 714,139 | 197,529 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 81,728 | 2,749 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 116,674 | 28,378 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 22,928 | 1,446 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 830,813 | 225,907 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 104,656 | 4,195 |
Obligations of states and political subdivisions | ||
Investment Holdings [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 224,486 | 75,200 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 24,966 | 1,153 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 31,605 | 2,162 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 9,795 | 135 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 256,091 | 77,362 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | 34,761 | 1,288 |
Mortgage-backed securities and collateralized mortgage obligations | ||
Investment Holdings [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 970,093 | 1,777,288 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 142,645 | 40,579 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 1,065,483 | 129,943 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 287,722 | 5,964 |
Debt Securities, Available-for-sale, Unrealized Loss Position | 2,035,576 | 1,907,231 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $ 430,367 | $ 46,543 |
Investment Securities (Schedu_2
Investment Securities (Schedule Of Contractual Maturities Of Investment Securities) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Investment Holdings [Line Items] | ||
Available-for-sale securities, due within one year, amortized cost | $ 32,935 | |
Available-for-sale securities, after one year through five years, amortized cost | 381,941 | |
Available-for-sale securities, after five years through ten years, amortized cost | 879,699 | |
Available-for-sale securities, after ten years, amortized cost | 2,411,519 | |
Available-for-sale securities, amortized cost | 3,706,094 | $ 3,864,355 |
Available-for-sale securities, due within one year, fair value | 31,768 | |
Available-for-sale securities, after one year through five years, fair value | 355,163 | |
Available-for-sale securities, after five years through ten years, fair value | 769,002 | |
Available-for-sale securities, after ten years, fair value | 1,980,458 | |
Debt Securities, Available-for-sale | 3,136,391 | 3,870,435 |
Held-to-maturity securities, due within one year, amortized cost | 0 | |
Held-to-maturity securities, after one year through five years, amortized cost | 4 | |
Held-to-maturity securities, after five years through ten years, amortized cost | 3 | |
Held-to-maturity securities, after ten years, amortized cost | 2,540 | |
Investment securities held to maturity | 2,547 | 2,744 |
Held-to-maturity securities, due within one year, fair value | 0 | |
Held-to-maturity securities, after one year through five years, fair value | 4 | |
Held-to-maturity securities, after five years through ten years, fair value | 3 | |
Held-to-maturity securities, after ten years, fair value | 3,280 | |
Held-to-maturity securities, fair value | $ 3,287 | $ 3,514 |
Investment Securities (Investme
Investment Securities (Investment Securities Pledged To Secure Borrowings And Public Deposits) (Details) $ in Thousands | Sep. 30, 2022 USD ($) |
Investments, Debt and Equity Securities [Abstract] | |
To state and local government to secure public deposits, amortized cost | $ 492,344 |
To secure repurchased agreements, amortized cost | 479,063 |
Other securities pledged, amortized cost | 243,069 |
Total pledged securities, amortized cost | 1,214,476 |
To state and local governments to secure public deposits, fair value | 433,917 |
To secure repurchase agreements, fair value | 416,031 |
Other securities pledged, fair value | 217,513 |
Total pledged securities, fair value | $ 1,067,461 |
Loans and Leases (Schedule Of M
Loans and Leases (Schedule Of Major Types Of Loans And Leases) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Receivables [Abstract] | ||
Non-owner occupied term, net | $ 3,846,426 | $ 3,786,887 |
Owner occupied term, net | 2,549,761 | 2,332,422 |
Multifamily, net | 5,090,661 | 4,051,202 |
Construction & development, net | 1,036,931 | 890,338 |
Residential development, net | 205,935 | 206,990 |
Term, net | 3,003,424 | 3,008,473 |
Lines of credit & other, net | 914,507 | 910,733 |
Leases & equipment finance, net | 1,669,817 | 1,467,676 |
Mortgage, net | 5,470,624 | 4,517,266 |
Home equity loans & lines, net | 1,565,094 | 1,197,170 |
Consumer & other, net | 154,771 | 184,023 |
Total loans and leases, net of deferred fees and costs | $ 25,507,951 | $ 22,553,180 |
Loans and Leases (Narrative) (D
Loans and Leases (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Receivables [Abstract] | |||||
Loans and leases, deferred fees and costs | $ 83,900 | $ 83,900 | $ 57,500 | ||
Discounts on acquired loans | 6,500 | 6,500 | 9,800 | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Total loans pledged to secure borrowings | 1,067,461 | 1,067,461 | |||
Interest income recognized on leases | 4,400 | $ 6,100 | 14,300 | $ 17,300 | |
Asset Pledged as Collateral | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Total loans pledged to secure borrowings | $ 16,400,000 | $ 16,400,000 | |||
Minimum | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Lease term | 3 years | 3 years | |||
Maximum | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Lease term | 5 years | 5 years | |||
Loans [Member] | |||||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||||
Interest Receivable | $ 72,700 | $ 72,700 | $ 60,100 |
Loans and Leases (Loans and Lea
Loans and Leases (Loans and Leases Sold) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Financing Receivable, Past Due [Line Items] | ||||
Carrying value of loans and leases sold | $ 39,556 | $ 38,386 | $ 106,419 | $ 171,706 |
Commercial real estate | Non-owner occupied term, net | ||||
Financing Receivable, Past Due [Line Items] | ||||
Carrying value of loans and leases sold | 10,704 | 14,828 | 35,412 | 38,124 |
Commercial real estate | Owner occupied term, net | ||||
Financing Receivable, Past Due [Line Items] | ||||
Carrying value of loans and leases sold | 13,093 | 12,692 | 31,977 | 25,115 |
Commercial real estate | Multifamily, net | ||||
Financing Receivable, Past Due [Line Items] | ||||
Carrying value of loans and leases sold | 0 | 0 | 0 | 3,776 |
Commercial | Term, net | ||||
Financing Receivable, Past Due [Line Items] | ||||
Carrying value of loans and leases sold | 15,759 | 10,866 | 37,537 | 39,180 |
Residential | Mortgage, net | ||||
Financing Receivable, Past Due [Line Items] | ||||
Carrying value of loans and leases sold | 0 | 0 | 1,493 | 1,712 |
Residential | Consumer & Other | ||||
Financing Receivable, Past Due [Line Items] | ||||
Carrying value of loans and leases sold | $ 0 | $ 0 | $ 0 | $ 63,799 |
Allowance for Credit Losses (Na
Allowance for Credit Losses (Narrative) (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||
Dec. 31, 2022 | Sep. 30, 2022 USD ($) risk_code | Sep. 30, 2021 USD ($) | Sep. 30, 2022 USD ($) risk_code | Sep. 30, 2021 USD ($) | Dec. 31, 2025 | Dec. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 USD ($) | |
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||||
Length of time projected by model | 10 years | |||||||||
Days Past Due on Leases and Equipment Finance | 181 days | |||||||||
Interest Income on Non-Accrual Loans and Leases | $ | $ 0 | $ 0 | $ 0 | $ 0 | ||||||
Total troubled debt restructurings, net of deferred fees and costs | $ | $ 7,100 | $ 7,100 | $ 6,700 | |||||||
Minimum Collateral Value compared to Secured Loan (Percent) | 100% | 100% | ||||||||
Moody's Analytics' August S2 | ||||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||||
Probability economy performs better than scenario | 75% | |||||||||
Probability economy performs worse than scenario | 25% | |||||||||
Non homogeneous | ||||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||||
Financing Receivable, Threshold Period Past Due | 90 days | 90 days | ||||||||
Pass | Non homogeneous | Minimum | ||||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||||
Internal risk rating code (number) | 1 | 1 | ||||||||
Pass | Non homogeneous | Maximum | ||||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||||
Internal risk rating code (number) | 9 | 9 | ||||||||
Watch | Non homogeneous | Minimum | ||||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||||
Internal risk rating code (number) | 10 | 10 | ||||||||
Watch | Non homogeneous | Maximum | ||||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||||
Internal risk rating code (number) | 11 | 11 | ||||||||
Special mention | Non homogeneous | ||||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||||
Internal risk rating code (number) | 12 | 12 | ||||||||
Substandard | Non homogeneous | Minimum | ||||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||||
Internal risk rating code (number) | 13 | 13 | ||||||||
Substandard | Non homogeneous | Maximum | ||||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||||
Internal risk rating code (number) | 14 | 14 | ||||||||
Doubtful | Non homogeneous | ||||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||||
Internal risk rating code (number) | 15 | 15 | ||||||||
Loss | Non homogeneous | ||||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||||
Internal risk rating code (number) | 16 | 16 | ||||||||
Loss | Non homogeneous | Maximum | ||||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||||
Internal risk rating code (number) | 16 | 16 | ||||||||
Expected | Moody's Analytics' August consensus | ||||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||||
Real GDP Growth | 1.90% | 1.70% | 1.30% | 1.70% | ||||||
Unemployment Rate | 3.90% | 4% | 3.90% | 3.60% | ||||||
Fed Funds Rate | 3.20% | 2.60% | 2.80% | 3.30% | ||||||
Expected | Moody's Analytics' August S2 | ||||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||||
Real GDP Growth | 3.40% | 3% | (0.50%) | 1.60% | ||||||
Unemployment Rate | 3.90% | 4.80% | 6.10% | 3.90% |
Allowance for Credit Losses (Al
Allowance for Credit Losses (Allowance for Credit Losses Methodology) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Allowance for credit losses on loans and leases | ||||
Balance, beginning of period | $ 261,111 | $ 279,887 | $ 248,412 | $ 328,401 |
(Recapture) provision for credit losses for loans and leases | 28,542 | (16,132) | 53,025 | (33,381) |
Charge-offs | (10,392) | (10,373) | (29,181) | (48,367) |
Recoveries | 3,804 | 4,178 | 10,809 | 10,907 |
Net recoveries (charge-offs) | (6,588) | (6,195) | (18,372) | (37,460) |
Balance, end of period | 283,065 | 257,560 | 283,065 | 257,560 |
Reserve for unfunded commitments | ||||
Balance, beginning of period | 12,823 | 14,539 | 12,767 | 20,286 |
(Recapture) provision for credit losses on unfunded commitments | (970) | (2,787) | (914) | (8,534) |
Balance, end of period | 11,853 | 11,752 | 11,853 | 11,752 |
Total allowance for credit losses | 294,918 | 269,312 | 294,918 | 269,312 |
Commercial real estate | ||||
Allowance for credit losses on loans and leases | ||||
Balance, beginning of period | 88,983 | 128,951 | 99,075 | 141,710 |
(Recapture) provision for credit losses for loans and leases | (3,563) | (20,141) | (13,745) | (33,199) |
Charge-offs | 0 | (916) | (8) | (1,086) |
Recoveries | 123 | 120 | 221 | 589 |
Net recoveries (charge-offs) | 123 | (796) | 213 | (497) |
Balance, end of period | 85,543 | 108,014 | 85,543 | 108,014 |
Reserve for unfunded commitments | ||||
Balance, beginning of period | 7,351 | 10,094 | 8,461 | 15,360 |
(Recapture) provision for credit losses on unfunded commitments | (1,994) | (3,273) | (3,104) | (8,539) |
Balance, end of period | 5,357 | 6,821 | 5,357 | 6,821 |
Total allowance for credit losses | 90,900 | 114,835 | 90,900 | 114,835 |
Commercial | ||||
Allowance for credit losses on loans and leases | ||||
Balance, beginning of period | 131,455 | 121,390 | 117,573 | 150,864 |
(Recapture) provision for credit losses for loans and leases | 26,762 | 2,719 | 52,058 | 4,180 |
Charge-offs | (9,459) | (8,521) | (26,352) | (44,228) |
Recoveries | 2,842 | 3,346 | 8,321 | 8,118 |
Net recoveries (charge-offs) | (6,617) | (5,175) | (18,031) | (36,110) |
Balance, end of period | 151,600 | 118,934 | 151,600 | 118,934 |
Reserve for unfunded commitments | ||||
Balance, beginning of period | 2,232 | 2,145 | 2,028 | 2,190 |
(Recapture) provision for credit losses on unfunded commitments | 579 | 440 | 783 | 395 |
Balance, end of period | 2,811 | 2,585 | 2,811 | 2,585 |
Total allowance for credit losses | 154,411 | 121,519 | 154,411 | 121,519 |
Residential | ||||
Allowance for credit losses on loans and leases | ||||
Balance, beginning of period | 36,586 | 25,296 | 29,068 | 27,964 |
(Recapture) provision for credit losses for loans and leases | 4,307 | 1,703 | 11,603 | (1,212) |
Charge-offs | (4) | 0 | (171) | (70) |
Recoveries | 249 | 281 | 638 | 598 |
Net recoveries (charge-offs) | 245 | 281 | 467 | 528 |
Balance, end of period | 41,138 | 27,280 | 41,138 | 27,280 |
Reserve for unfunded commitments | ||||
Balance, beginning of period | 2,735 | 1,710 | 1,957 | 1,661 |
(Recapture) provision for credit losses on unfunded commitments | 304 | 247 | 1,082 | 296 |
Balance, end of period | 3,039 | 1,957 | 3,039 | 1,957 |
Total allowance for credit losses | 44,177 | 29,237 | 44,177 | 29,237 |
Consumer & Other | ||||
Allowance for credit losses on loans and leases | ||||
Balance, beginning of period | 4,087 | 4,250 | 2,696 | 7,863 |
(Recapture) provision for credit losses for loans and leases | 1,036 | (413) | 3,109 | (3,150) |
Charge-offs | (929) | (936) | (2,650) | (2,983) |
Recoveries | 590 | 431 | 1,629 | 1,602 |
Net recoveries (charge-offs) | (339) | (505) | (1,021) | (1,381) |
Balance, end of period | 4,784 | 3,332 | 4,784 | 3,332 |
Reserve for unfunded commitments | ||||
Balance, beginning of period | 505 | 590 | 321 | 1,075 |
(Recapture) provision for credit losses on unfunded commitments | 141 | (201) | 325 | (686) |
Balance, end of period | 646 | 389 | 646 | 389 |
Total allowance for credit losses | $ 5,430 | $ 3,721 | $ 5,430 | $ 3,721 |
Allowance for Credit Losses (No
Allowance for Credit Losses (Non-Accrual Loans and Leases and Loans and Leases Past Due) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | $ 25,507,951 | $ 22,553,180 |
Non-Accrual | 24,055 | 18,865 |
Loans and leases (at fair value: $284,900 and $345,634) | 25,507,951 | 22,553,180 |
Allowance for credit loss on non-accrual loans | 13,100 | 7,500 |
Greater than 30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 24,447 | 14,634 |
60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 29,091 | 17,046 |
90 Days or More and Accruing | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 27,729 | 32,336 |
Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 81,267 | 64,016 |
Current and Other | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 25,402,629 | 22,470,299 |
Commercial real estate | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 12,729,714 | 11,267,839 |
Commercial real estate | Non-owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 3,846,426 | 3,786,887 |
Non-Accrual | 3,282 | 3,384 |
Commercial real estate | Owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 2,549,761 | 2,332,422 |
Non-Accrual | 2,121 | 2,383 |
Commercial real estate | Multifamily, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 5,090,661 | 4,051,202 |
Non-Accrual | 0 | 0 |
Commercial real estate | Construction & development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1,036,931 | 890,338 |
Non-Accrual | 0 | 0 |
Commercial real estate | Residential development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 205,935 | 206,990 |
Non-Accrual | 0 | 0 |
Commercial real estate | Greater than 30 to 59 Days Past Due | Non-owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 321 | 388 |
Commercial real estate | Greater than 30 to 59 Days Past Due | Owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 282 | 101 |
Commercial real estate | Greater than 30 to 59 Days Past Due | Multifamily, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | Greater than 30 to 59 Days Past Due | Construction & development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | Greater than 30 to 59 Days Past Due | Residential development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | 60 to 89 Days Past Due | Non-owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 1,138 |
Commercial real estate | 60 to 89 Days Past Due | Owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 24 | 65 |
Commercial real estate | 60 to 89 Days Past Due | Multifamily, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | 60 to 89 Days Past Due | Construction & development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | 60 to 89 Days Past Due | Residential development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | 90 Days or More and Accruing | Non-owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | 90 Days or More and Accruing | Owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1 | 1 |
Commercial real estate | 90 Days or More and Accruing | Multifamily, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | 90 Days or More and Accruing | Construction & development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | 90 Days or More and Accruing | Residential development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | Total Past Due | Non-owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 321 | 1,526 |
Commercial real estate | Total Past Due | Owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 307 | 167 |
Commercial real estate | Total Past Due | Multifamily, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | Total Past Due | Construction & development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | Total Past Due | Residential development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 0 | 0 |
Commercial real estate | Current and Other | Non-owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 3,842,823 | 3,781,977 |
Commercial real estate | Current and Other | Owner occupied term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 2,547,333 | 2,329,872 |
Commercial real estate | Current and Other | Multifamily, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 5,090,661 | 4,051,202 |
Commercial real estate | Current and Other | Construction & development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1,036,931 | 890,338 |
Commercial real estate | Current and Other | Residential development, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 205,935 | 206,990 |
Commercial | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 5,587,748 | 5,386,882 |
Commercial | Term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 3,003,424 | 3,008,473 |
Non-Accrual | 3,945 | 4,225 |
Commercial | Lines of credit & other, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 914,507 | 910,733 |
Non-Accrual | 86 | 0 |
Commercial | Leases & equipment finance, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1,669,817 | 1,467,676 |
Non-Accrual | 14,621 | 8,873 |
Commercial | Greater than 30 to 59 Days Past Due | Term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 3,743 | 4,627 |
Commercial | Greater than 30 to 59 Days Past Due | Lines of credit & other, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 778 | 300 |
Commercial | Greater than 30 to 59 Days Past Due | Leases & equipment finance, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 15,628 | 6,806 |
Commercial | 60 to 89 Days Past Due | Term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 4,073 | 2,345 |
Commercial | 60 to 89 Days Past Due | Lines of credit & other, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 83 | 2 |
Commercial | 60 to 89 Days Past Due | Leases & equipment finance, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 14,952 | 8,951 |
Commercial | 90 Days or More and Accruing | Term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1 | 4 |
Commercial | 90 Days or More and Accruing | Lines of credit & other, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 6 | 357 |
Commercial | 90 Days or More and Accruing | Leases & equipment finance, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 5,136 | 3,799 |
Commercial | Total Past Due | Term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 7,817 | 6,976 |
Commercial | Total Past Due | Lines of credit & other, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 867 | 659 |
Commercial | Total Past Due | Leases & equipment finance, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 35,716 | 19,556 |
Commercial | Current and Other | Term, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 2,991,662 | 2,997,272 |
Commercial | Current and Other | Lines of credit & other, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 913,554 | 910,074 |
Commercial | Current and Other | Leases & equipment finance, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1,619,480 | 1,439,247 |
Residential | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 7,035,718 | 5,714,436 |
Residential | Mortgage, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 5,470,624 | 4,517,266 |
Non-Accrual | 0 | 0 |
Residential | Home equity loans & lines, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1,565,094 | 1,197,170 |
Non-Accrual | 0 | 0 |
Residential | Greater than 30 to 59 Days Past Due | Mortgage, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 869 | 802 |
Residential | Greater than 30 to 59 Days Past Due | Home equity loans & lines, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 2,406 | 1,214 |
Residential | 60 to 89 Days Past Due | Mortgage, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 8,518 | 3,668 |
Residential | 60 to 89 Days Past Due | Home equity loans & lines, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1,191 | 491 |
Residential | 90 Days or More and Accruing | Mortgage, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 20,717 | 27,249 |
Residential | 90 Days or More and Accruing | Mortgage, net | GNMA Loans | ||
Financing Receivable, Past Due [Line Items] | ||
GNMA Loans past due by 90 days, but not yet repurchased | 1,000 | |
Residential | 90 Days or More and Accruing | Home equity loans & lines, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1,716 | 732 |
Residential | Total Past Due | Mortgage, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 30,104 | 31,719 |
Residential | Total Past Due | Home equity loans & lines, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 5,313 | 2,437 |
Residential | Current and Other | Mortgage, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 5,440,520 | 4,485,547 |
Residential | Current and Other | Home equity loans & lines, net | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 1,559,781 | 1,194,733 |
Consumer & Other | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 154,771 | 184,023 |
Non-Accrual | 0 | 0 |
Consumer & Other | Greater than 30 to 59 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 420 | 396 |
Consumer & Other | 60 to 89 Days Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 250 | 386 |
Consumer & Other | 90 Days or More and Accruing | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 152 | 194 |
Consumer & Other | Total Past Due | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | 822 | 976 |
Consumer & Other | Current and Other | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans and Leases | $ 153,949 | $ 183,047 |
Allowance for Credit Losses (Co
Allowance for Credit Losses (Collateral Dependent Loans and Leases) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | $ 25,507,951 | $ 22,553,180 |
Commercial real estate | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 12,729,714 | 11,267,839 |
Commercial real estate | Non-owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 3,846,426 | 3,786,887 |
Commercial real estate | Owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 2,549,761 | 2,332,422 |
Commercial | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 5,587,748 | 5,386,882 |
Commercial | Term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 3,003,424 | 3,008,473 |
Commercial | Lines of credit & other, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 914,507 | 910,733 |
Commercial | Leases & equipment finance, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,669,817 | 1,467,676 |
Residential | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 7,035,718 | 5,714,436 |
Residential | Mortgage, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 5,470,624 | 4,517,266 |
Residential | Home equity loans & lines, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,565,094 | $ 1,197,170 |
Residential Real Estate | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 42,640 | |
Residential Real Estate | Commercial real estate | Non-owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Residential Real Estate | Commercial real estate | Owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Residential Real Estate | Commercial | Term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,092 | |
Residential Real Estate | Commercial | Lines of credit & other, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Residential Real Estate | Commercial | Leases & equipment finance, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Residential Real Estate | Residential | Mortgage, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 38,051 | |
Residential Real Estate | Residential | Home equity loans & lines, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 3,497 | |
Commercial Real Estate | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 5,458 | |
Commercial Real Estate | Commercial real estate | Non-owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 3,059 | |
Commercial Real Estate | Commercial real estate | Owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,879 | |
Commercial Real Estate | Commercial | Term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 520 | |
Commercial Real Estate | Commercial | Lines of credit & other, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Commercial Real Estate | Commercial | Leases & equipment finance, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Commercial Real Estate | Residential | Mortgage, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Commercial Real Estate | Residential | Home equity loans & lines, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
General Business Assets | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 16,629 | |
General Business Assets | Commercial real estate | Non-owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
General Business Assets | Commercial real estate | Owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
General Business Assets | Commercial | Term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,922 | |
General Business Assets | Commercial | Lines of credit & other, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 86 | |
General Business Assets | Commercial | Leases & equipment finance, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 14,621 | |
General Business Assets | Residential | Mortgage, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
General Business Assets | Residential | Home equity loans & lines, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Other | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1 | |
Other | Commercial real estate | Non-owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Other | Commercial real estate | Owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Other | Commercial | Term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Other | Commercial | Lines of credit & other, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1 | |
Other | Commercial | Leases & equipment finance, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Other | Residential | Mortgage, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Other | Residential | Home equity loans & lines, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 0 | |
Total | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 64,728 | |
Total | Commercial real estate | Non-owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 3,059 | |
Total | Commercial real estate | Owner occupied term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 1,879 | |
Total | Commercial | Term, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 3,534 | |
Total | Commercial | Lines of credit & other, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 87 | |
Total | Commercial | Leases & equipment finance, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 14,621 | |
Total | Residential | Mortgage, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 38,051 | |
Total | Residential | Home equity loans & lines, net | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | $ 3,497 |
Allowance for Credit Losses (Sc
Allowance for Credit Losses (Schedule Of Troubled Debt Restructuring) (Details) $ in Thousands | 3 Months Ended | |
Sep. 30, 2022 USD ($) contracts | Dec. 31, 2021 USD ($) contracts | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Total troubled debt restructurings, net of deferred fees and costs | $ 7,100 | $ 6,700 |
Financing Receivable, Modifications, Number of Contracts | contracts | 47 | 43 |
Entity Loan Modification Program | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Total troubled debt restructurings, net of deferred fees and costs | $ 7,108 | $ 6,753 |
Entity Loan Modification Program | Accrual Status | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Total troubled debt restructurings, net of deferred fees and costs | 7,076 | 6,694 |
Entity Loan Modification Program | Non-Accrual Status | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Total troubled debt restructurings, net of deferred fees and costs | $ 32 | $ 59 |
Commercial real estate | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | contracts | 3 | 5 |
Commercial real estate | Entity Loan Modification Program | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Total troubled debt restructurings, net of deferred fees and costs | $ 310 | $ 1,090 |
Commercial real estate | Entity Loan Modification Program | Accrual Status | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Total troubled debt restructurings, net of deferred fees and costs | 278 | 1,031 |
Commercial real estate | Entity Loan Modification Program | Non-Accrual Status | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Total troubled debt restructurings, net of deferred fees and costs | $ 32 | $ 59 |
Residential | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | contracts | 42 | 35 |
Residential | Entity Loan Modification Program | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Total troubled debt restructurings, net of deferred fees and costs | $ 6,785 | $ 5,641 |
Residential | Entity Loan Modification Program | Accrual Status | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Total troubled debt restructurings, net of deferred fees and costs | 6,785 | 5,641 |
Residential | Entity Loan Modification Program | Non-Accrual Status | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Total troubled debt restructurings, net of deferred fees and costs | $ 0 | $ 0 |
Consumer & Other | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | contracts | 2 | 3 |
Consumer & Other | Entity Loan Modification Program | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Total troubled debt restructurings, net of deferred fees and costs | $ 13 | $ 22 |
Consumer & Other | Entity Loan Modification Program | Accrual Status | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Total troubled debt restructurings, net of deferred fees and costs | 13 | 22 |
Consumer & Other | Entity Loan Modification Program | Non-Accrual Status | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Total troubled debt restructurings, net of deferred fees and costs | $ 0 | $ 0 |
Allowance for Credit Losses (_2
Allowance for Credit Losses (Schedule Of Newly Restructured Loans) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | $ 1,683 | $ 1,661 | $ 5,889 | $ 5,939 |
Commercial real estate | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 278 | 0 | 278 | 0 |
Residential | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | 1,405 | 1,661 | 5,611 | 5,903 |
Consumer & Other | ||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||||
Total troubled debt restructurings, net of deferred fees and costs | $ 0 | $ 0 | $ 0 | $ 36 |
Allowance for Credit Losses (In
Allowance for Credit Losses (Internal Risk Rating By Loan Class) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | $ 5,621,509 | $ 7,524,619 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 7,045,820 | 2,671,479 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,138,138 | 3,097,145 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2,560,212 | 1,719,581 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,338,314 | 1,372,464 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 3,336,892 | 3,063,070 |
Financing Receivable, Revolving | 3,356,478 | 3,024,643 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 110,588 | 80,179 |
Financing Receivable, before Allowance for Credit Loss, Total | 25,507,951 | 22,553,180 |
Commercial real estate | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 2,976,545 | 3,508,631 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 3,484,245 | 1,383,447 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,201,400 | 1,986,139 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 1,695,075 | 1,158,429 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 926,286 | 897,906 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,247,281 | 2,128,130 |
Financing Receivable, Revolving | 191,346 | 191,774 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 7,536 | 13,383 |
Financing Receivable, before Allowance for Credit Loss, Total | 12,729,714 | 11,267,839 |
Commercial real estate | Non-owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 614,735 | 920,500 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 798,370 | 438,400 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 396,678 | 622,895 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 576,643 | 496,662 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 433,741 | 312,706 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,020,742 | 990,732 |
Financing Receivable, Revolving | 1,015 | 1,313 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 4,502 | 3,679 |
Financing Receivable, before Allowance for Credit Loss, Total | 3,846,426 | 3,786,887 |
Commercial real estate | Owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 560,158 | 594,677 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 563,940 | 238,711 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 189,229 | 377,602 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 337,471 | 258,261 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 227,996 | 232,137 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 666,316 | 625,280 |
Financing Receivable, Revolving | 4,532 | 5,017 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 119 | 737 |
Financing Receivable, before Allowance for Credit Loss, Total | 2,549,761 | 2,332,422 |
Commercial real estate | Multifamily, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,641,219 | 1,700,221 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,619,672 | 380,506 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 366,586 | 748,207 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 656,951 | 346,192 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 236,674 | 334,688 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 541,995 | 511,982 |
Financing Receivable, Revolving | 24,649 | 26,475 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 2,915 | 2,931 |
Financing Receivable, before Allowance for Credit Loss, Total | 5,090,661 | 4,051,202 |
Commercial real estate | Construction & development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 133,105 | 264,489 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 483,666 | 310,207 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 247,657 | 237,435 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 124,010 | 57,314 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 27,875 | 18,375 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 18,228 | 136 |
Financing Receivable, Revolving | 2,390 | 2,382 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 1,036,931 | 890,338 |
Commercial real estate | Residential development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 27,328 | 28,744 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 18,597 | 15,623 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,250 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 158,760 | 156,587 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 6,036 |
Financing Receivable, before Allowance for Credit Loss, Total | 205,935 | 206,990 |
Commercial real estate | Pass/Watch | Non-owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 611,283 | 901,230 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 779,385 | 434,875 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 394,345 | 618,879 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 572,015 | 431,098 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 396,511 | 308,872 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,003,038 | 942,501 |
Financing Receivable, Revolving | 1,015 | 1,313 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 4,502 | 3,679 |
Financing Receivable, before Allowance for Credit Loss, Total | 3,762,094 | 3,642,447 |
Commercial real estate | Pass/Watch | Owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 558,055 | 594,677 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 562,282 | 237,814 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 188,825 | 369,483 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 333,328 | 245,707 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 214,471 | 227,201 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 641,716 | 601,934 |
Financing Receivable, Revolving | 4,532 | 5,017 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 119 | 737 |
Financing Receivable, before Allowance for Credit Loss, Total | 2,503,328 | 2,282,570 |
Commercial real estate | Pass/Watch | Multifamily, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,641,219 | 1,700,221 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,619,672 | 380,506 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 366,586 | 748,207 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 656,951 | 346,192 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 236,674 | 334,688 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 541,995 | 510,385 |
Financing Receivable, Revolving | 24,649 | 26,475 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 2,915 | 2,931 |
Financing Receivable, before Allowance for Credit Loss, Total | 5,090,661 | 4,049,605 |
Commercial real estate | Pass/Watch | Construction & development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 133,105 | 264,489 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 471,095 | 310,207 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 247,657 | 237,435 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 112,484 | 48,911 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 27,875 | 18,375 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 18,228 | 136 |
Financing Receivable, Revolving | 2,390 | 2,382 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 1,012,834 | 881,935 |
Commercial real estate | Pass/Watch | Residential development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 27,328 | 28,744 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 18,597 | 15,623 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,250 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 158,760 | 156,587 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 6,036 |
Financing Receivable, before Allowance for Credit Loss, Total | 205,935 | 206,990 |
Commercial real estate | Special mention | Non-owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 893 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 18,188 | 1,311 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 373 | 1,411 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 4,628 | 12,252 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 4,028 | 844 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 10,825 | 38,268 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 38,935 | 54,086 |
Commercial real estate | Special mention | Owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 2,103 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 7,445 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 3,483 | 10,739 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 12,163 | 4,936 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 11,688 | 12,219 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 29,437 | 35,339 |
Commercial real estate | Special mention | Multifamily, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 1,597 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 0 | 1,597 |
Commercial real estate | Special mention | Construction & development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 12,571 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 11,526 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 24,097 | 0 |
Commercial real estate | Special mention | Residential development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 0 | 0 |
Commercial real estate | Substandard | Non-owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 2,559 | 19,270 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 797 | 2,214 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,960 | 2,605 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 53,312 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 33,202 | 2,990 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 6,583 | 9,641 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 45,101 | 90,032 |
Commercial real estate | Substandard | Owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,658 | 897 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 404 | 674 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 660 | 1,815 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,362 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 12,808 | 10,697 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 16,892 | 14,083 |
Commercial real estate | Substandard | Multifamily, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 0 | 0 |
Commercial real estate | Substandard | Construction & development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 8,403 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 0 | 8,403 |
Commercial real estate | Substandard | Residential development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 0 | 0 |
Commercial real estate | Doubtful | Non-owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 52 | 78 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 52 | 78 |
Commercial real estate | Doubtful | Owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 0 | 0 |
Commercial real estate | Doubtful | Multifamily, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 0 | 0 |
Commercial real estate | Doubtful | Construction & development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 0 | 0 |
Commercial real estate | Doubtful | Residential development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 0 | 0 |
Commercial real estate | Loss | Non-owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 244 | 244 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 244 | 244 |
Commercial real estate | Loss | Owner occupied term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 104 | 430 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 104 | 430 |
Commercial real estate | Loss | Multifamily, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 0 | 0 |
Commercial real estate | Loss | Construction & development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 0 | 0 |
Commercial real estate | Loss | Residential development, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 0 | 0 |
Commercial | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,360,963 | 1,746,565 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 1,173,134 | 669,001 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 434,577 | 506,968 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 375,188 | 363,837 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 257,517 | 256,725 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 381,198 | 259,814 |
Financing Receivable, Revolving | 1,534,324 | 1,551,416 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 70,847 | 32,556 |
Financing Receivable, before Allowance for Credit Loss, Total | 5,587,748 | 5,386,882 |
Commercial | Term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 639,802 | 1,103,527 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 726,405 | 321,250 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 195,700 | 200,449 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 174,151 | 209,700 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 165,229 | 210,449 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 330,016 | 217,194 |
Financing Receivable, Revolving | 725,144 | 727,139 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 46,977 | 18,765 |
Financing Receivable, before Allowance for Credit Loss, Total | 3,003,424 | 3,008,473 |
Commercial | Lines of credit & other, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 41,018 | 32,550 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 8,703 | 9,584 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 4,909 | 16,529 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 15,459 | 10,945 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 8,967 | 334 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,401 | 2,723 |
Financing Receivable, Revolving | 809,180 | 824,277 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 23,870 | 13,791 |
Financing Receivable, before Allowance for Credit Loss, Total | 914,507 | 910,733 |
Commercial | Leases & equipment finance, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 680,143 | 610,488 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 438,026 | 338,167 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 233,968 | 289,990 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 185,578 | 143,192 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 83,321 | 45,942 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 48,781 | 39,897 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 1,669,817 | 1,467,676 |
Commercial | Pass/Watch | Term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 639,802 | 1,102,310 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 719,847 | 306,969 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 186,897 | 200,352 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 174,050 | 179,217 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 136,346 | 206,405 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 297,180 | 215,105 |
Financing Receivable, Revolving | 698,264 | 699,230 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 45,295 | 14,075 |
Financing Receivable, before Allowance for Credit Loss, Total | 2,897,681 | 2,923,663 |
Commercial | Pass/Watch | Lines of credit & other, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 41,018 | 31,836 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 8,347 | 9,170 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 4,909 | 16,529 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 15,459 | 10,945 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 8,967 | 334 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,298 | 1,605 |
Financing Receivable, Revolving | 793,610 | 812,207 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 16,818 | 8,498 |
Financing Receivable, before Allowance for Credit Loss, Total | 890,426 | 891,124 |
Commercial | Pass/Watch | Leases & equipment finance, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 662,587 | 599,301 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 413,258 | 325,379 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 224,418 | 282,101 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 176,694 | 138,627 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 79,557 | 43,950 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 47,081 | 38,965 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 1,603,595 | 1,428,323 |
Commercial | Special mention | Term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 3,459 | 4,454 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 23 | 97 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 94 | 28,971 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,612 | 587 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 30,388 | 825 |
Financing Receivable, Revolving | 0 | 27,909 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 869 | 1,501 |
Financing Receivable, before Allowance for Credit Loss, Total | 36,445 | 64,344 |
Commercial | Special mention | Lines of credit & other, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 7,637 | 8,830 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 273 | 752 |
Financing Receivable, before Allowance for Credit Loss, Total | 7,910 | 9,582 |
Commercial | Special mention | Leases & equipment finance, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 4,797 | 2,512 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 6,434 | 1,965 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2,334 | 1,782 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2,953 | 1,690 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,146 | 572 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,171 | 130 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 18,835 | 8,651 |
Commercial | Substandard | Term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 1,217 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 3,099 | 9,827 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 8,123 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 7 | 1,095 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 26,854 | 2,648 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 2,448 | 1,264 |
Financing Receivable, Revolving | 26,880 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 813 | 3,189 |
Financing Receivable, before Allowance for Credit Loss, Total | 68,224 | 19,240 |
Commercial | Substandard | Lines of credit & other, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 714 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 356 | 414 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 1,103 | 1,118 |
Financing Receivable, Revolving | 7,933 | 3,238 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 6,779 | 4,540 |
Financing Receivable, before Allowance for Credit Loss, Total | 16,171 | 10,024 |
Commercial | Substandard | Leases & equipment finance, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 6,292 | 4,280 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 7,367 | 7,333 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 3,388 | 2,682 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2,502 | 1,448 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,687 | 578 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 294 | 160 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 21,530 | 16,481 |
Commercial | Doubtful | Term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 657 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 809 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 657 | 809 |
Commercial | Doubtful | Lines of credit & other, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 1 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 0 | 1 |
Commercial | Doubtful | Leases & equipment finance, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 6,053 | 3,781 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 10,491 | 3,232 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 3,665 | 3,238 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 3,299 | 1,343 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 893 | 663 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 223 | 636 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 24,624 | 12,893 |
Commercial | Loss | Term, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 417 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 417 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 417 | 417 |
Commercial | Loss | Lines of credit & other, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 1 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 1 |
Financing Receivable, before Allowance for Credit Loss, Total | 0 | 2 |
Commercial | Loss | Leases & equipment finance, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 414 | 614 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 476 | 258 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 163 | 187 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 130 | 84 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 38 | 179 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 12 | 6 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 1,233 | 1,328 |
Residential | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,269,304 | 2,254,048 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,379,890 | 608,050 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 494,545 | 591,815 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 482,627 | 191,919 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 151,321 | 213,720 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 703,125 | 669,911 |
Financing Receivable, Revolving | 1,523,497 | 1,152,740 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 31,409 | 32,233 |
Financing Receivable, before Allowance for Credit Loss, Total | 7,035,718 | 5,714,436 |
Residential | Mortgage, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,268,276 | 2,253,076 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,379,238 | 608,050 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 494,545 | 591,815 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 482,627 | 191,901 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 151,304 | 213,720 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 694,634 | 658,704 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 5,470,624 | 4,517,266 |
Residential | Home equity loans & lines, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,028 | 972 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 652 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 18 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 17 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 8,491 | 11,207 |
Financing Receivable, Revolving | 1,523,497 | 1,152,740 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 31,409 | 32,233 |
Financing Receivable, before Allowance for Credit Loss, Total | 1,565,094 | 1,197,170 |
Residential | Pass/Watch | Mortgage, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,267,843 | 2,252,704 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,376,164 | 606,671 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 491,918 | 585,923 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 478,631 | 190,673 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 148,352 | 209,990 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 678,634 | 639,585 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 5,441,542 | 4,485,546 |
Residential | Pass/Watch | Home equity loans & lines, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 1,028 | 972 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 652 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 18 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 17 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 8,243 | 10,973 |
Financing Receivable, Revolving | 1,519,724 | 1,151,063 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 30,115 | 31,708 |
Financing Receivable, before Allowance for Credit Loss, Total | 1,559,779 | 1,194,734 |
Residential | Special mention | Mortgage, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 433 | 372 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 595 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,546 | 555 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 901 | 81 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,016 | 632 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 4,896 | 2,830 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 9,387 | 4,470 |
Residential | Special mention | Home equity loans & lines, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 63 | 102 |
Financing Receivable, Revolving | 2,955 | 1,355 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 580 | 248 |
Financing Receivable, before Allowance for Credit Loss, Total | 3,598 | 1,705 |
Residential | Substandard | Mortgage, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 2,246 | 1,379 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 1,081 | 4,430 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 2,858 | 1,147 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 1,936 | 3,098 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 11,098 | 15,692 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 19,219 | 25,746 |
Residential | Substandard | Home equity loans & lines, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 133 | 96 |
Financing Receivable, Revolving | 625 | 280 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 484 | 213 |
Financing Receivable, before Allowance for Credit Loss, Total | 1,242 | 589 |
Residential | Doubtful | Mortgage, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 0 | 0 |
Residential | Doubtful | Home equity loans & lines, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 0 | 0 |
Residential | Loss | Mortgage, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 233 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 907 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 237 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 6 | 597 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 476 | 1,504 |
Residential | Loss | Home equity loans & lines, net | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 52 | 36 |
Financing Receivable, Revolving | 193 | 42 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 230 | 64 |
Financing Receivable, before Allowance for Credit Loss, Total | 475 | 142 |
Consumer & Other | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 14,697 | 15,375 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 8,551 | 10,981 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 7,616 | 12,223 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 7,322 | 5,396 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 3,190 | 4,113 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 5,288 | 5,215 |
Financing Receivable, Revolving | 107,311 | 128,713 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 796 | 2,007 |
Financing Receivable, before Allowance for Credit Loss, Total | 154,771 | 184,023 |
Consumer & Other | Pass/Watch | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 14,687 | 15,375 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 8,542 | 10,955 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 7,593 | 12,167 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 7,282 | 5,395 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 3,139 | 3,983 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 5,076 | 5,070 |
Financing Receivable, Revolving | 106,881 | 128,264 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 753 | 1,835 |
Financing Receivable, before Allowance for Credit Loss, Total | 153,953 | 183,044 |
Consumer & Other | Special mention | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 10 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 9 | 23 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 21 | 41 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 33 | 1 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 24 | 113 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 182 | 113 |
Financing Receivable, Revolving | 364 | 391 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 28 | 101 |
Financing Receivable, before Allowance for Credit Loss, Total | 671 | 783 |
Consumer & Other | Substandard | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 3 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 2 | 15 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 7 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 27 | 17 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 23 | 25 |
Financing Receivable, Revolving | 66 | 55 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 15 | 71 |
Financing Receivable, before Allowance for Credit Loss, Total | 140 | 186 |
Consumer & Other | Doubtful | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Revolving | 0 | 0 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | 0 | 0 |
Consumer & Other | Loss | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Financing Receivable, Originated in Current Fiscal Year | 0 | 0 |
Financing Receivable, Originated in Fiscal Year before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Two Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Three Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Four Years before Latest Fiscal Year | 0 | 0 |
Financing Receivable, Originated Five or More Years before Latest Fiscal Year | 7 | 7 |
Financing Receivable, Revolving | 0 | 3 |
Financing Receivable, Revolving to Non-Revolving Loans Amortized Cost | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Total | $ 7 | $ 10 |
Residential Mortgage Servicin_3
Residential Mortgage Servicing Rights (Schedule Of Changes In Mortgage Servicing Rights) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Servicing Asset at Fair Value, Amount [Roll Forward] | ||||
Balance, beginning of period | $ 179,558 | $ 102,699 | $ 123,615 | $ 92,907 |
Additions for new MSR capitalized | 5,194 | 8,450 | 20,397 | 30,845 |
Changes due to collection/realization of expected cash flows over time | (4,978) | (4,681) | (15,286) | (13,592) |
Changes due to valuation inputs or assumptions | 16,403 | (634) | 67,451 | (4,326) |
Balance, end of period | $ 196,177 | $ 105,834 | $ 196,177 | $ 105,834 |
Residential Mortgage Servicin_4
Residential Mortgage Servicing Rights (Schedule Of Information Relates To Serviced Loan Portfolio) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Transfers and Servicing [Abstract] | ||
Balance of loans serviced for others | $ 12,997,911 | $ 12,755,671 |
MSR as a percentage of serviced loans | 1.51% | 0.97% |
Residential Mortgage Servicin_5
Residential Mortgage Servicing Rights (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Transfers and Servicing [Abstract] | ||||
Servicing | $ 9,529 | $ 9,172 | $ 28,174 | $ 27,379 |
Commitments and Contingencies_2
Commitments and Contingencies (Schedule Of Commitments And Contingencies) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Loss Contingencies [Line Items] | ||
Commitments and contingent liabilities | ||
Commitments to extend credit | ||
Loss Contingencies [Line Items] | ||
Commitments and contingent liabilities | 8,021,552 | |
Forward sales commitments | ||
Loss Contingencies [Line Items] | ||
Commitments and contingent liabilities | 247,469 | |
Commitments to originate residential mortgage loans held for sale | ||
Loss Contingencies [Line Items] | ||
Commitments and contingent liabilities | 131,443 | |
Standby letters of credit | ||
Loss Contingencies [Line Items] | ||
Commitments and contingent liabilities | $ 125,320 |
Commitments and Contingencies_3
Commitments and Contingencies (Narrative) (Details) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Nov. 15, 2022 USD ($) branches shares | Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Dec. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | ||||||
Financial guarantees in connection with standby letters of credit | $ 0 | $ 0 | $ 0 | $ 0 | ||
Standby letters of credit expiring within one year | 115.6 | 115.6 | ||||
Standby letters of credit expiring thereafter | $ 9.7 | $ 9.7 | ||||
Expected | ||||||
Concentration Risk [Line Items] | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Share Exchange Ratio | shares | 0.5958 | |||||
Termination Fee | $ 145 | |||||
Expected | Umpqua Bank and Columbia Banking System Merger | ||||||
Concentration Risk [Line Items] | ||||||
Business Acquisition, Percentage of Voting Interests Acquired | 62% | |||||
Number of Stores to be Divested | branches | 10 | |||||
Expected | Umpqua Bank and Columbia Banking System Merger | Columbia Banking System, Inc. | ||||||
Concentration Risk [Line Items] | ||||||
Business Acquisition, Percentage of Voting Interests Acquired | 38% | |||||
Product Concentration Risk | Revenue Benchmark | Real Estate Loans As Part Of Loan Portfolio | ||||||
Concentration Risk [Line Items] | ||||||
Concentration risk (as a percent) | 78% | 76% |
Derivatives (Narrative) (Detail
Derivatives (Narrative) (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 USD ($) contracts | Sep. 30, 2021 USD ($) | Sep. 30, 2022 USD ($) contracts | Sep. 30, 2021 USD ($) | Dec. 31, 2021 USD ($) contracts | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||
Counterparty default losses on forward contracts | $ 0 | $ 0 | $ 0 | $ 0 | |
Credit Derivatives [Line Items] | |||||
Commitments | |||||
Collateralized financings | 13,400 | 13,400 | |||
Termination value of derivatives in a net liability position | 282,100 | 282,100 | 8,700 | ||
Collateral required to be posted under agreements | 96,900 | 96,900 | 92,600 | ||
Variation Margin Adjustment | 238,300 | 238,300 | (172,900) | ||
Interest rate futures | |||||
Credit Derivatives [Line Items] | |||||
Derivative, notional amount | 155,000 | 155,000 | |||
Mortgage-Backed Security | |||||
Credit Derivatives [Line Items] | |||||
Derivative, notional amount | 14,100 | 14,100 | |||
Interest rate swaps | |||||
Credit Derivatives [Line Items] | |||||
Derivative, notional amount | $ 7,300,000 | $ 7,300,000 | $ 7,000,000 | ||
Number of interest rate swaps | contracts | 932 | 932 | 936 | ||
Commitments To Originate Loans Held For Sale | |||||
Credit Derivatives [Line Items] | |||||
Commitments | $ 131,443 | $ 131,443 | |||
Interest rate forward sales commitments | |||||
Credit Derivatives [Line Items] | |||||
Commitments | $ 247,469 | $ 247,469 |
Derivatives (Summary Of Types O
Derivatives (Summary Of Types Of Derivatives, Separately By Assets And Liabilities And Fair Value Of Derivatives) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | $ 14,829 | $ 177,423 |
Derivative Liability | 295,222 | 9,675 |
Interest rate lock commitments | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 24 | 4,641 |
Derivative Liability | 2,290 | |
Interest rate forward sales commitments | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 9,740 | 615 |
Derivative Liability | 5 | 699 |
Interest rate swaps | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 4,479 | 171,827 |
Derivative Liability | 282,087 | 8,671 |
Interest rate contracts | Interest rate lock commitments | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | 24 | 4,641 |
Derivative Liability | $ 2,290 | $ 0 |
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets |
Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Other liabilities | Other liabilities |
Interest rate contracts | Future | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | $ 0 | $ 0 |
Derivative Liability | $ 10,359 | $ 0 |
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets |
Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Other liabilities | Other liabilities |
Interest rate contracts | Interest rate forward sales commitments | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | $ 9,740 | $ 615 |
Derivative Liability | $ 5 | $ 699 |
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets |
Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Other liabilities | Other liabilities |
Interest rate contracts | Interest rate swaps | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | $ 4,479 | $ 171,827 |
Derivative Liability | $ 282,087 | $ 8,671 |
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets |
Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Other liabilities | Other liabilities |
Foreign currency derivatives | ||
Derivatives, Fair Value [Line Items] | ||
Asset Derivatives | $ 586 | $ 340 |
Derivative Liability | $ 481 | $ 305 |
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other assets | Other assets |
Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Other liabilities | Other liabilities |
Derivatives (Summary Of Types_2
Derivatives (Summary Of Types Of Derivatives And Gains (Losses) Recorded) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Derivative Gain (Losses) | $ (1,287) | $ (5,355) | $ 49,294 | $ 6,133 |
Foreign currency derivatives | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Derivative Gain (Losses) | $ 779 | $ 718 | $ 2,283 | $ 1,985 |
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Noninterest Income, Other Operating Income | Noninterest Income, Other Operating Income | Noninterest Income, Other Operating Income | Noninterest Income, Other Operating Income |
Interest rate lock commitments | Interest rate contracts | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Derivative Gain (Losses) | $ (2,149) | $ (4,952) | $ (6,907) | $ (19,886) |
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Residential mortgage banking revenue, net | Residential mortgage banking revenue, net | Residential mortgage banking revenue, net | Residential mortgage banking revenue, net |
Future | Interest rate contracts | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Derivative Gain (Losses) | $ (14,128) | $ 0 | $ (14,128) | $ 0 |
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Residential mortgage banking revenue, net | Residential mortgage banking revenue, net | Residential mortgage banking revenue, net | Residential mortgage banking revenue, net |
Interest rate forward sales commitments | Interest rate contracts | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Derivative Gain (Losses) | $ 10,017 | $ (2,550) | $ 49,468 | $ 15,336 |
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Residential mortgage banking revenue, net | Residential mortgage banking revenue, net | Residential mortgage banking revenue, net | Residential mortgage banking revenue, net |
Interest rate swaps | Interest rate contracts | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Derivative Gain (Losses) | $ 4,194 | $ 1,429 | $ 18,578 | $ 8,698 |
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Noninterest Income, Other Operating Income | Noninterest Income, Other Operating Income | Noninterest Income, Other Operating Income | Noninterest Income, Other Operating Income |
Earnings Per Common Share (Comp
Earnings Per Common Share (Computation Of Basic And Diluted Earnings Per Common Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Earnings Per Share [Abstract] | |||||||||
Net income | $ 84,040 | $ 78,591 | $ 91,157 | $ 88,354 | $ 108,066 | $ 116,143 | $ 107,737 | $ 253,788 | $ 331,946 |
Weighted average number of common shares outstanding - basic (in shares) | 217,051 | 218,416 | 216,955 | 219,791 | |||||
Effect of potentially dilutive common shares (in shares) | 335 | 562 | 398 | 487 | |||||
Weighted average number of shares outstanding, diluted (in shares) | 217,386 | 218,978 | 217,353 | 220,278 | |||||
Earnings per common share: | |||||||||
Basic (in dollars per share) | $ 0.39 | $ 0.49 | $ 1.17 | $ 1.51 | |||||
Diluted (in dollars per share) | $ 0.39 | $ 0.49 | $ 1.17 | $ 1.51 |
Earnings Per Common Share (Sche
Earnings Per Common Share (Schedule Of Weighted Average Outstanding Securities Not Included In The Computation Of Diluted Earnings Per Common Share) (Details) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Earnings Per Share [Abstract] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 502 | 0 | 395 | 73 |
Segment Information (Narrative)
Segment Information (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2022 segment | |
Segment Reporting [Abstract] | |
Number of primary segments | 2 |
Segment Information (Summary Of
Segment Information (Summary Of Financial Information By Reportable Segment) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Segment Reporting Information [Line Items] | |||||||||
Net interest income | $ 287,604 | $ 235,074 | $ 764,537 | $ 686,268 | |||||
Provision (recapture) for credit losses | 27,572 | (18,919) | 51,068 | (41,915) | |||||
Origination and sale | 10,515 | 30,293 | 42,460 | 134,165 | |||||
Servicing | 9,529 | 9,172 | 28,174 | 27,379 | |||||
Changes due to collection/realization of expected cash flows over time | (4,978) | (4,681) | (15,286) | (13,592) | |||||
Changes due to valuation inputs or assumptions | 16,403 | (634) | 67,451 | (4,326) | |||||
MSR hedge loss | (14,128) | 0 | (14,128) | 0 | |||||
Gain on sale of debt securities, net | 0 | 0 | 2 | 4 | |||||
Loss on equity securities, net | (2,647) | (343) | (7,383) | (1,045) | |||||
Gain on swap derivatives, net | 4,194 | 1,429 | 18,578 | 8,698 | |||||
Change in fair value of certain loans held for investment | (26,397) | 3,432 | (62,656) | 5,704 | |||||
Non-interest income (excluding above items) | 36,954 | 35,037 | 107,437 | 116,593 | |||||
Noninterest Income | 29,445 | 73,705 | 164,649 | 273,580 | |||||
Merger related expenses | 769 | 0 | 5,719 | 0 | |||||
Exit and disposal costs | 1,364 | 3,813 | 4,839 | 9,741 | |||||
Non-interest expense (excluding above items) | 175,831 | 179,940 | 529,410 | 551,004 | |||||
Allocated expenses, net | 0 | 0 | 0 | 0 | |||||
Total non-interest expense | 177,964 | 183,753 | 539,968 | 560,745 | |||||
Income before provision for income taxes | 111,513 | 143,945 | 338,150 | 441,018 | |||||
Provision for income taxes | 27,473 | 35,879 | 84,362 | 109,072 | |||||
Net income | 84,040 | $ 78,591 | $ 91,157 | $ 88,354 | 108,066 | $ 116,143 | $ 107,737 | 253,788 | 331,946 |
Total assets | 31,471,960 | 30,640,936 | 31,471,960 | ||||||
Loans held for sale | 148,275 | 353,105 | 148,275 | ||||||
Total loans and leases | 25,507,951 | 22,553,180 | 25,507,951 | ||||||
Total deposits | 26,817,107 | 26,594,685 | 26,817,107 | ||||||
Core Banking | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Net interest income | 286,532 | 232,348 | 760,628 | 676,837 | |||||
Provision (recapture) for credit losses | 27,572 | (18,919) | 51,068 | (41,915) | |||||
Origination and sale | 0 | 0 | 0 | 0 | |||||
Servicing | 0 | 0 | 0 | 0 | |||||
Changes due to collection/realization of expected cash flows over time | 0 | 0 | 0 | 0 | |||||
Changes due to valuation inputs or assumptions | 0 | 0 | 0 | 0 | |||||
MSR hedge loss | 0 | 0 | 0 | 0 | |||||
Gain on sale of debt securities, net | 2 | 4 | |||||||
Loss on equity securities, net | (2,647) | (343) | (7,383) | (1,045) | |||||
Gain on swap derivatives, net | 4,194 | 1,429 | 18,578 | 8,698 | |||||
Change in fair value of certain loans held for investment | (26,397) | 3,432 | (62,656) | 5,704 | |||||
Non-interest income (excluding above items) | 36,769 | 34,849 | 106,880 | 115,913 | |||||
Noninterest Income | 11,919 | 39,367 | 55,421 | 129,274 | |||||
Merger related expenses | 769 | 0 | 5,719 | 0 | |||||
Exit and disposal costs | 1,364 | 3,813 | 4,839 | 9,741 | |||||
Non-interest expense (excluding above items) | 154,320 | 146,931 | 451,689 | 438,969 | |||||
Allocated expenses, net | (39) | 3,680 | 7,398 | 3,860 | |||||
Total non-interest expense | 156,414 | 154,424 | 469,645 | 452,570 | |||||
Income before provision for income taxes | 114,465 | 136,210 | 295,336 | 395,456 | |||||
Provision for income taxes | 28,212 | 33,945 | 73,659 | 97,681 | |||||
Net income | 86,253 | 102,265 | 221,677 | 297,775 | |||||
Total assets | 31,100,700 | 30,155,058 | 31,100,700 | ||||||
Loans held for sale | 0 | 0 | 0 | ||||||
Total loans and leases | 25,507,951 | 22,553,180 | 25,507,951 | ||||||
Total deposits | 26,588,217 | 26,370,568 | 26,588,217 | ||||||
Mortgage Banking | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Net interest income | 1,072 | 2,726 | 3,909 | 9,431 | |||||
Provision (recapture) for credit losses | 0 | 0 | 0 | 0 | |||||
Origination and sale | 10,515 | 30,293 | 42,460 | 134,165 | |||||
Servicing | 9,529 | 9,172 | 28,174 | 27,379 | |||||
Changes due to collection/realization of expected cash flows over time | (4,978) | (4,681) | (15,286) | (13,592) | |||||
Changes due to valuation inputs or assumptions | 16,403 | (634) | 67,451 | (4,326) | |||||
MSR hedge loss | (14,128) | 0 | (14,128) | 0 | |||||
Gain on sale of debt securities, net | 0 | 0 | |||||||
Loss on equity securities, net | 0 | 0 | 0 | 0 | |||||
Gain on swap derivatives, net | 0 | 0 | 0 | 0 | |||||
Change in fair value of certain loans held for investment | 0 | 0 | 0 | 0 | |||||
Non-interest income (excluding above items) | 185 | 188 | 557 | 680 | |||||
Noninterest Income | 17,526 | 34,338 | 109,228 | 144,306 | |||||
Merger related expenses | 0 | 0 | 0 | 0 | |||||
Exit and disposal costs | 0 | 0 | 0 | 0 | |||||
Non-interest expense (excluding above items) | 21,511 | 33,009 | 77,721 | 112,035 | |||||
Allocated expenses, net | 39 | (3,680) | (7,398) | (3,860) | |||||
Total non-interest expense | 21,550 | 29,329 | 70,323 | 108,175 | |||||
Income before provision for income taxes | (2,952) | 7,735 | 42,814 | 45,562 | |||||
Provision for income taxes | (739) | 1,934 | 10,703 | 11,391 | |||||
Net income | (2,213) | $ 5,801 | 32,111 | $ 34,171 | |||||
Total assets | 371,260 | 485,878 | 371,260 | ||||||
Loans held for sale | 148,275 | 353,105 | 148,275 | ||||||
Total loans and leases | 0 | 0 | 0 | ||||||
Total deposits | $ 228,890 | $ 224,117 | $ 228,890 |
Fair Value Measurement (Schedul
Fair Value Measurement (Schedule Of Carrying Value And Fair Value Of Financial Instruments Not Recorded At Fair Value) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 |
Financial assets: | ||||||
Equity and other investment securities | $ 72,277 | $ 81,214 | ||||
Investment securities available for sale | 3,136,391 | 3,870,435 | ||||
Investment securities held to maturity | 2,547 | 2,744 | ||||
Loans held for sale | 148,275 | 353,105 | ||||
Loans and leases, net | 25,224,886 | 22,304,768 | ||||
Restricted equity securities | 40,993 | 10,916 | ||||
Residential mortgage servicing rights | 196,177 | $ 179,558 | 123,615 | $ 105,834 | $ 102,699 | $ 92,907 |
Bank owned life insurance | 329,699 | 327,745 | ||||
Derivatives | 14,829 | 177,423 | ||||
Financial liabilities: | ||||||
Deposits | 26,817,107 | 26,594,685 | ||||
Securities sold under agreements to repurchase | 383,569 | 492,247 | ||||
Borrowings | 756,214 | 6,329 | ||||
Junior subordinated debentures, at fair value | 325,744 | 293,081 | ||||
Junior subordinated debentures, at amortized cost | 87,870 | 88,041 | ||||
Derivatives | 295,222 | 9,675 | ||||
Carrying Value | ||||||
Financial assets: | ||||||
Cash and cash equivalents | 1,553,859 | 2,761,621 | ||||
Equity and other investment securities | 72,277 | 81,214 | ||||
Investment securities available for sale | 3,136,391 | 3,870,435 | ||||
Investment securities held to maturity | 2,547 | 2,744 | ||||
Loans held for sale | 148,275 | 353,105 | ||||
Loans and leases, net | 25,224,886 | 22,304,768 | ||||
Restricted equity securities | 40,993 | 10,916 | ||||
Residential mortgage servicing rights | 196,177 | 123,615 | ||||
Bank owned life insurance | 329,699 | 327,745 | ||||
Derivatives | 14,829 | 177,423 | ||||
Financial liabilities: | ||||||
Deposits | 26,817,107 | 26,594,685 | ||||
Securities sold under agreements to repurchase | 383,569 | 492,247 | ||||
Borrowings | 756,214 | 6,329 | ||||
Junior subordinated debentures, at fair value | 325,744 | 293,081 | ||||
Junior subordinated debentures, at amortized cost | 87,870 | 88,041 | ||||
Derivatives | 295,222 | 9,675 | ||||
Fair Value | ||||||
Financial assets: | ||||||
Cash and cash equivalents | 1,553,859 | 2,761,621 | ||||
Equity and other investment securities | 72,277 | 81,214 | ||||
Investment securities available for sale | 3,136,391 | 3,870,435 | ||||
Investment securities held to maturity | 3,287 | 3,514 | ||||
Loans held for sale | 148,275 | 353,105 | ||||
Loans and leases, net | 24,201,550 | 22,356,321 | ||||
Restricted equity securities | 40,993 | 10,916 | ||||
Residential mortgage servicing rights | 196,177 | 123,615 | ||||
Bank owned life insurance | 329,699 | 327,745 | ||||
Derivatives | 14,829 | 177,423 | ||||
Financial liabilities: | ||||||
Deposits | 26,780,203 | 26,593,521 | ||||
Securities sold under agreements to repurchase | 383,569 | 492,247 | ||||
Borrowings | 755,820 | 7,073 | ||||
Junior subordinated debentures, at fair value | 325,744 | 293,081 | ||||
Junior subordinated debentures, at amortized cost | 80,337 | 75,199 | ||||
Derivatives | $ 295,222 | $ 9,675 |
Fair Value Measurement (Sched_2
Fair Value Measurement (Schedule Of Fair Value Assets And Liabilities Measured On Recurring Basis) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | $ 72,277 | $ 81,214 | ||||
Investment securities available for sale | 3,136,391 | 3,870,435 | ||||
Loans held for sale | 148,275 | 353,105 | ||||
Loans Receivable, Fair Value Disclosure | 284,900 | 345,634 | ||||
Residential mortgage servicing rights, at fair value | 196,177 | $ 179,558 | 123,615 | $ 105,834 | $ 102,699 | $ 92,907 |
Derivative Asset | 14,829 | 177,423 | ||||
Total assets measured at fair value | 3,852,849 | 4,951,426 | ||||
Junior subordinated debentures, at fair value | 325,744 | 293,081 | ||||
Derivative Liability | 295,222 | 9,675 | ||||
Total liabilities measured at fair value | 620,966 | 302,756 | ||||
Foreign currency derivatives | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 586 | 340 | ||||
Derivative Liability | 481 | 305 | ||||
Investments in mutual funds and other securities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | 61,309 | 68,692 | ||||
Equity securities held in rabbi trusts | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | 10,968 | 12,522 | ||||
U.S. Treasury and agencies | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 830,813 | 918,053 | ||||
Obligations of states and political subdivisions | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 269,904 | 330,784 | ||||
Mortgage-backed securities and collateralized mortgage obligations | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 2,035,674 | 2,621,598 | ||||
Interest rate lock commitments | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 24 | 4,641 | ||||
Derivative Liability | 2,290 | |||||
Interest rate futures | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Liability | 10,359 | |||||
Interest rate forward sales commitments | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 9,740 | 615 | ||||
Derivative Liability | 5 | 699 | ||||
Interest rate swaps | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 4,479 | 171,827 | ||||
Derivative Liability | 282,087 | 8,671 | ||||
Level 1 | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Loans held for sale | 0 | 0 | ||||
Loans Receivable, Fair Value Disclosure | 0 | 0 | ||||
Residential mortgage servicing rights, at fair value | 0 | 0 | ||||
Total assets measured at fair value | 180,450 | 152,915 | ||||
Junior subordinated debentures, at fair value | 0 | 0 | ||||
Total liabilities measured at fair value | 0 | 0 | ||||
Level 1 | Foreign currency derivatives | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 0 | 0 | ||||
Derivative Liability | 0 | 0 | ||||
Level 1 | Investments in mutual funds and other securities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | 43,972 | 51,355 | ||||
Level 1 | Equity securities held in rabbi trusts | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | 10,968 | 12,522 | ||||
Level 1 | U.S. Treasury and agencies | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 125,510 | 89,038 | ||||
Level 1 | Obligations of states and political subdivisions | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 0 | 0 | ||||
Level 1 | Mortgage-backed securities and collateralized mortgage obligations | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 0 | 0 | ||||
Level 1 | Interest rate lock commitments | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 0 | 0 | ||||
Derivative Liability | 0 | |||||
Level 1 | Interest rate futures | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Liability | 0 | |||||
Level 1 | Interest rate forward sales commitments | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 0 | 0 | ||||
Derivative Liability | 0 | 0 | ||||
Level 1 | Interest rate swaps | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 0 | 0 | ||||
Derivative Liability | 0 | 0 | ||||
Level 2 | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Loans held for sale | 148,275 | 353,105 | ||||
Loans Receivable, Fair Value Disclosure | 284,900 | 345,634 | ||||
Residential mortgage servicing rights, at fair value | 0 | 0 | ||||
Total assets measured at fair value | 3,476,198 | 4,670,255 | ||||
Junior subordinated debentures, at fair value | 0 | 0 | ||||
Total liabilities measured at fair value | 292,932 | 9,675 | ||||
Level 2 | Foreign currency derivatives | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 586 | 340 | ||||
Derivative Liability | 481 | 305 | ||||
Level 2 | Investments in mutual funds and other securities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | 17,337 | 17,337 | ||||
Level 2 | Equity securities held in rabbi trusts | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | 0 | 0 | ||||
Level 2 | U.S. Treasury and agencies | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 705,303 | 829,015 | ||||
Level 2 | Obligations of states and political subdivisions | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 269,904 | 330,784 | ||||
Level 2 | Mortgage-backed securities and collateralized mortgage obligations | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 2,035,674 | 2,621,598 | ||||
Level 2 | Interest rate lock commitments | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 0 | 0 | ||||
Derivative Liability | 0 | |||||
Level 2 | Interest rate futures | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Liability | 10,359 | |||||
Level 2 | Interest rate forward sales commitments | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 9,740 | 615 | ||||
Derivative Liability | 5 | 699 | ||||
Level 2 | Interest rate swaps | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 4,479 | 171,827 | ||||
Derivative Liability | 282,087 | 8,671 | ||||
Level 3 | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Loans held for sale | 0 | 0 | ||||
Loans Receivable, Fair Value Disclosure | 0 | 0 | ||||
Residential mortgage servicing rights, at fair value | 196,177 | 123,615 | ||||
Total assets measured at fair value | 196,201 | 128,256 | ||||
Junior subordinated debentures, at fair value | 325,744 | 293,081 | ||||
Total liabilities measured at fair value | 328,034 | 293,081 | ||||
Level 3 | Foreign currency derivatives | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 0 | 0 | ||||
Derivative Liability | 0 | 0 | ||||
Level 3 | Investments in mutual funds and other securities | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | 0 | 0 | ||||
Level 3 | Equity securities held in rabbi trusts | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Equity and other investment securities | 0 | 0 | ||||
Level 3 | U.S. Treasury and agencies | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 0 | 0 | ||||
Level 3 | Obligations of states and political subdivisions | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 0 | 0 | ||||
Level 3 | Mortgage-backed securities and collateralized mortgage obligations | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Investment securities available for sale | 0 | 0 | ||||
Level 3 | Interest rate lock commitments | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 24 | 4,641 | ||||
Derivative Liability | 2,290 | |||||
Level 3 | Interest rate futures | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Liability | 0 | |||||
Level 3 | Interest rate forward sales commitments | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 0 | 0 | ||||
Derivative Liability | 0 | 0 | ||||
Level 3 | Interest rate swaps | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Derivative Asset | 0 | 0 | ||||
Derivative Liability | $ 0 | $ 0 |
Fair Value Measurement (Narrati
Fair Value Measurement (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Fair Value Disclosures [Abstract] | |||||
Loans and leases, at fair value | $ 284,900 | $ 284,900 | $ 345,634 | ||
Unrealized losses arising during the period | (4,043) | $ (11,946) | (31,810) | $ (44,504) | |
Changes in unrealized gains and losses on junior subordinated debentures carried at fair value, net of taxes | (3,003) | (8,874) | (23,628) | (33,058) | |
Residential Mortgage Banking Revenue | |||||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||||
Net increase (decrease) in fair value | (7,800) | (4,500) | (14,600) | (13,500) | |
Other Income | |||||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||||
Net increase (decrease) in fair value | $ (26,400) | $ 3,400 | $ (62,700) | $ 5,700 |
Fair Value Measurement (Sched_3
Fair Value Measurement (Schedule Of A Description Of The Valuation Technique, Unobservable Input, And Qualitative Information For The Company's Assets And Liabilities Classified As Level 3) (Details) $ in Thousands | Sep. 30, 2022 USD ($) | Jun. 30, 2022 USD ($) | Dec. 31, 2021 USD ($) | Sep. 30, 2021 USD ($) | Jun. 30, 2021 USD ($) | Dec. 31, 2020 USD ($) |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Residential mortgage servicing rights, at fair value | $ 196,177 | $ 179,558 | $ 123,615 | $ 105,834 | $ 102,699 | $ 92,907 |
Derivative Liability | 295,222 | 9,675 | ||||
Junior subordinated debentures, at fair value | 325,744 | 293,081 | ||||
Residential mortgage servicing rights | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Residential mortgage servicing rights, at fair value | 196,177 | |||||
Interest rate lock commitments, net | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Derivative Liability | 2,266 | |||||
Junior subordinated debentures | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Junior subordinated debentures, at fair value | 325,744 | |||||
Level 3 | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Residential mortgage servicing rights, at fair value | 196,177 | 123,615 | ||||
Junior subordinated debentures, at fair value | $ 325,744 | $ 293,081 | ||||
Level 3 | Discounted cash flow | Residential mortgage servicing rights | Weighted Average | Constant prepayment rate | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Servicing asset, measurement input | 0.0634 | |||||
Level 3 | Discounted cash flow | Residential mortgage servicing rights | Weighted Average | Discount rate | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Servicing asset, measurement input | 0.1005 | |||||
Level 3 | Discounted cash flow | Residential mortgage servicing rights | Minimum | Constant prepayment rate | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Servicing asset, measurement input | 0.0606 | |||||
Level 3 | Discounted cash flow | Residential mortgage servicing rights | Minimum | Discount rate | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Servicing asset, measurement input | 0.0950 | |||||
Level 3 | Discounted cash flow | Residential mortgage servicing rights | Maximum | Constant prepayment rate | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Servicing asset, measurement input | 0.2075 | |||||
Level 3 | Discounted cash flow | Residential mortgage servicing rights | Maximum | Discount rate | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Servicing asset, measurement input | 0.1594 | |||||
Level 3 | Discounted cash flow | Junior subordinated debentures | Weighted Average | Credit spread | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Debt instrument, measurement input | 0.0293 | |||||
Level 3 | Discounted cash flow | Junior subordinated debentures | Minimum | Credit spread | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Debt instrument, measurement input | 0.0193 | |||||
Level 3 | Discounted cash flow | Junior subordinated debentures | Maximum | Credit spread | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Debt instrument, measurement input | 0.0377 | |||||
Level 3 | Internal pricing model | Interest rate lock commitments, net | Weighted Average | Pull-through rate | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Derivative Liability, Measurement Input | 0.9186 | |||||
Level 3 | Internal pricing model | Interest rate lock commitments, net | Minimum | Pull-through rate | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Derivative Liability, Measurement Input | 0.1253 | |||||
Level 3 | Internal pricing model | Interest rate lock commitments, net | Maximum | Pull-through rate | ||||||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||||||
Derivative Liability, Measurement Input | 1 |
Fair Value Measurement (Sched_4
Fair Value Measurement (Schedule Of Reconciliation Of Assets And Liabilities Measured At Fair Value Using Significant Unobservable Inputs (Level 3) On A Recurring Basis) (Details) - Level 3 - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Junior subordinated debentures, at fair value | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Change in unrealized gains or losses for the period included in earnings for assets and liabilities held at end of period | $ (4,348) | $ (2,344) | $ (9,941) | $ (7,087) |
Change in unrealized gains or losses for the period included in other comprehensive income for assets and liabilities held at end of period | (4,043) | (11,946) | (31,810) | (44,504) |
Junior subordinated debentures, at fair value | ||||
Beginning Balance | (321,268) | (287,723) | (293,081) | (255,217) |
Change included in earnings | (4,348) | (2,344) | (9,941) | (7,087) |
Change in fair values included in comprehensive income/loss | (4,043) | (11,946) | (31,810) | (44,504) |
Purchases and issuances | 0 | 0 | 0 | 0 |
Sales and settlements | 3,915 | 2,505 | 9,088 | 7,300 |
Ending Balance | (325,744) | (299,508) | (325,744) | (299,508) |
Interest rate lock commitments | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Change in unrealized gains or losses for the period included in earnings for assets and liabilities held at end of period | (2,266) | 8,258 | (2,266) | 8,258 |
Change in unrealized gains or losses for the period included in other comprehensive income for assets and liabilities held at end of period | 0 | 0 | 0 | 0 |
Interest rate lock commitments, net | ||||
Beginning Balance | (117) | 13,210 | 4,641 | 28,144 |
Change included in earnings | (1,072) | 1,301 | (7,779) | 199 |
Change in fair values included in comprehensive income/loss | 0 | 0 | 0 | 0 |
Purchases and issuances | 1,376 | 16,007 | 9,074 | 67,730 |
Sales and settlements | (2,453) | (22,260) | (8,202) | (87,815) |
Ending Balance | (2,266) | 8,258 | (2,266) | 8,258 |
Residential mortgage servicing rights | ||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||||
Change in unrealized gains or losses for the period included in earnings for assets and liabilities held at end of period | 16,403 | (634) | 67,451 | (4,326) |
Change in unrealized gains or losses for the period included in other comprehensive income for assets and liabilities held at end of period | 0 | 0 | 0 | 0 |
Residential mortgage servicing rights | ||||
Beginning balance | 179,558 | 102,699 | 123,615 | 92,907 |
Change included in earnings | 11,425 | (5,315) | 52,165 | (17,918) |
Change in fair values included in comprehensive income/loss | 0 | 0 | 0 | 0 |
Purchases and issuances | 5,194 | 8,450 | 20,397 | 30,845 |
Sales and settlements | 0 | 0 | 0 | 0 |
Ending balance | $ 196,177 | $ 105,834 | $ 196,177 | $ 105,834 |
Fair Value Measurement (Fair Va
Fair Value Measurement (Fair Value Assets And Liabilities Measured On Nonrecurring Basis) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | $ 3,852,849 | $ 4,951,426 |
Level 1 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 180,450 | 152,915 |
Level 2 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 3,476,198 | 4,670,255 |
Level 3 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 196,201 | 128,256 |
Fair Value, Nonrecurring | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 1,845 | 4,129 |
Fair Value, Nonrecurring | Level 1 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Nonrecurring | Level 2 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Nonrecurring | Level 3 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 1,845 | 4,129 |
Fair Value, Nonrecurring | Loans and leases | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 1,845 | 4,129 |
Fair Value, Nonrecurring | Loans and leases | Level 1 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Nonrecurring | Loans and leases | Level 2 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | 0 | 0 |
Fair Value, Nonrecurring | Loans and leases | Level 3 | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Assets measured at fair value | $ 1,845 | $ 4,129 |
Fair Value Measurement (Losses
Fair Value Measurement (Losses Resulting From Nonrecurring Fair Value Adjustments) (Details) - Fair Value, Nonrecurring - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Losses resulting from nonrecurring fair value adjustments | $ 8,621 | $ 8,470 | $ 25,153 | $ 43,480 |
Loans and leases | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Losses resulting from nonrecurring fair value adjustments | $ 8,621 | $ 8,470 | $ 25,153 | $ 43,480 |
Fair Value Measurement (Fair _2
Fair Value Measurement (Fair Value Option) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Fair Value Disclosures [Abstract] | ||
Fair Value | $ 148,275 | $ 353,105 |
Aggregate Unpaid Principal Balance | 150,794 | 341,008 |
Fair Value Less Aggregate Unpaid Principal Balance | (2,519) | 12,097 |
Loans and leases, at fair value | 284,900 | 345,634 |
Fair Value, Loans Held as Assets, Aggregate Unpaid Balance, Loans and Long-term Receivables | 336,980 | 335,058 |
Fair Value, Option, Loans Held as Assets, Aggregate Difference | $ (52,080) | $ 10,576 |