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BPFH Boston Private Financial

Cover Page

Cover Page - shares3 Months Ended
Mar. 31, 2021Apr. 30, 2021
Cover [Abstract]
Document Type10-Q
Document Quarterly Reporttrue
Document Period End DateMar. 31,
2021
Document Transition Reportfalse
Entity File Number001-35070
Entity Registrant NameBOSTON PRIVATE FINANCIAL HOLDINGS, INC
Entity Incorporation, State or Country CodeMA
Entity Tax Identification Number04-2976299
Entity Address, Address Line OneTen Post Office Square
Entity Address, City or TownBoston
Entity Address, State or ProvinceMA
Entity Address, Postal Zip Code02109
City Area Code617
Local Phone Number912-1900
Title of 12(b) SecurityCommon Stock
Trading SymbolBPFH
Security Exchange NameNASDAQ
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryAccelerated Filer
Entity Small Businessfalse
Entity Emerging Growthfalse
Entity Shell Companyfalse
Entity Common Stock, Shares Outstanding82,464,321
Entity Central Index Key0000821127
Current Fiscal Year End Date--12-31
Document Fiscal Year Focus2021
Document Fiscal Period FocusQ1
Amendment Flagfalse

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)Mar. 31, 2021Dec. 31, 2020
Assets:
Cash and cash equivalents $ 1,389,943,000 $ 1,055,588,000
Investment securities available-for-sale (amortized cost of $1,319,395 and $1,198,513 at March 31, 2021 and December 31, 2020, respectively)1,339,408,000 1,243,693,000
Investment securities held-to-maturity (fair value of $32,631 and $35,942 at March 31, 2021 and December 31, 2020, respectively)31,943,000 35,223,000
Equity securities at fair value39,708,000 41,452,000
Stock in Federal Home Loan Bank and Federal Reserve Bank28,651,000 28,663,000
Loans held for sale8,434,000 17,421,000
Total loans7,216,325,000 7,104,309,000
Less: Allowance for loan losses(74,010,000)(81,238,000)
Net loans7,142,315,000 7,023,071,000
Premises and equipment, net41,637,000 44,087,000
Goodwill57,607,000 57,607,000
Intangible assets, net8,389,000 9,056,000
Fees receivable2,237,000 2,800,000
Accrued interest receivable26,029,000 26,191,000
Deferred income taxes, net11,353,000 6,774,000
Right-of-use assets93,224,000 97,859,000
Other assets317,614,000 359,248,000
Total assets10,538,492,000 10,048,733,000
Liabilities:
Deposits9,147,618,000 8,595,366,000
Securities sold under agreements to repurchase46,262,000 53,472,000
Federal Home Loan Bank borrowings115,019,000 114,659,000
Junior subordinated debentures106,363,000 106,363,000
Lease liabilities107,143,000 112,339,000
Other liabilities157,664,000 198,526,000
Total liabilities9,680,069,000 9,180,725,000
Redeemable Noncontrolling Interests0 0
Shareholders’ Equity:
Common stock, $1.00 par value; authorized: 170,000,000 shares; issued and outstanding: 82,455,432 shares at March 31, 2021 and 82,334,257 shares at December 31, 202082,455,000 82,334,000
Additional paid-in capital600,089,000 597,558,000
Retained earnings162,137,000 156,431,000
Accumulated other comprehensive income13,742,000 31,685,000
Total shareholders’ equity858,423,000 868,008,000
Total liabilities and shareholders’ equity $ 10,538,492,000 $ 10,048,733,000

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Assets:
Investment securities, available for sale, amortized cost $ 1,319,395 $ 1,198,513
Debt securities, held-to-maturity, fair value $ 32,631 $ 35,942
Shareholders’ Equity:
Common stock, par value (in dollars per share) $ 1 $ 1
Common stock, shares authorized (in shares)170,000,000 170,000,000
Common stock, shares issued (in shares)82,455,432 82,334,257
Common stock, shares outstanding (in shares)82,455,432 82,334,257

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Interest and dividend income:
Loans $ 58,036,000 $ 66,358,000
Taxable investment securities782,000 868,000
Non-taxable investment securities2,045,000 1,998,000
Mortgage-backed securities3,437,000 2,787,000
Short-term investments and other593,000 1,071,000
Total interest and dividend income64,893,000 73,082,000
Interest expense:
Deposits4,691,000 12,796,000
Federal Home Loan Bank borrowings236,000 2,034,000
Junior subordinated debentures481,000 917,000
Repurchase agreements and other short-term borrowings8,000 78,000
Total interest expense5,416,000 15,825,000
Net interest income59,477,000 57,257,000
Provision/(credit) for loan losses(7,004,000)16,962,000
Net interest income after provision/(credit) for loan losses66,481,000 40,295,000
Fees and other income:
Fees20,499,000 21,048,000
Other3,387,000 (1,365,000)
Total fees and other income26,170,000 21,521,000
Operating expense:
Salaries and employee benefits40,904,000 35,096,000
Occupancy and equipment8,205,000 7,646,000
Information systems9,719,000 6,725,000
Professional services3,302,000 3,601,000
Merger costs10,665,000 0
Marketing and business development624,000 1,890,000
Amortization of intangibles667,000 715,000
FDIC insurance967,000 0
Restructuring0 0
Other870,000 5,235,000
Total operating expense75,923,000 60,908,000
Income/(loss) before income taxes16,728,000 908,000
Income tax expense6,076,000 102,000
Net income/(loss) before attribution to noncontrolling interests10,652,000 806,000
Less: Net income attributable to noncontrolling interests0 (6,000)
Net income attributable to the Company10,652,000 800,000
Adjustments to net income attributable to the Company to arrive at net income attributable to common shareholders0 414,000
Net income attributable to common shareholders, treasury stock method $ 10,652,000 $ 1,214,000
Basic earnings per share attributable to common shareholders:
Total attributable to common shareholders (in dollars per share) $ 0.13 $ 0.01
Weighted average basic common shares outstanding (in shares)82,429,162 83,005,064
Diluted earnings per share attributable to common shareholders:
Total attributable to common shareholders (in dollars per share) $ 0.13 $ 0.01
Weighted average diluted common shares outstanding (in shares)83,934,107 83,318,041
Wealth management and trust fees
Fees and other income:
Fees $ 19,136,000 $ 18,371,000
Investment management fees
Fees and other income:
Fees489,000 1,925,000
Other banking fee income
Fees and other income:
Fees2,411,000 2,490,000
Gain on sale of loans, net
Fees and other income:
Fees $ 747,000 $ 100,000

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income attributable to the Company $ 10,652 $ 800
Other comprehensive income/(loss), net of tax:
Net unrealized gain/(loss) on Investment securities available-for-sale(17,993)14,489
Unrealized gain/(loss) on cash flow hedges6 0
Reclassification adjustment for net realized (gain)/loss included in net income44 0
Net unrealized gain/(loss) on cash flow hedges50 0
Other comprehensive income/(loss), net of tax(17,943)14,489
Total comprehensive income/(loss) attributable to the Company, net of tax $ (7,291) $ 15,289

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (Unaudited) - USD ($) $ in ThousandsTotalAdjustment[1]Common StockAdditional Paid-in CapitalRetained EarningsRetained EarningsAdjustment[1]Accumulated Other Comprehensive Income/(Loss)
Beginning Balance at Dec. 31, 2019 $ 819,018 $ 13,492 $ 83,266 $ 600,708 $ 127,469 $ 13,492 $ 7,575
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to the Company800 800
Other comprehensive income/(loss), net of tax14,489 14,489
Dividends paid to common shareholders(10,000)(10,000)
Repurchase of shares of common stock(12,807)(1,565)(11,242)
Net proceeds from issuance of:
Net proceeds from issuance of common stock920 88 832
Net proceeds from issuance of incentive stock grant shares canceled or forfeited and withheld for employee taxes62 5 57
Amortization of stock compensation1,348 1,348
Stock options exercised55 7 48
Other equity adjustments1,415 (1)1,416
Ending Balance at Mar. 31, 2020828,792 81,800 593,167 131,761 22,064
Beginning Balance at Dec. 31, 2020868,008 82,334 597,558 156,431 31,685
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to the Company10,652 10,652
Other comprehensive income/(loss), net of tax(17,943)(17,943)
Dividends paid to common shareholders(4,946)(4,946)
Net proceeds from issuance of:
Net proceeds from issuance of common stock695 99 596
Net proceeds from issuance of incentive stock grant shares canceled or forfeited and withheld for employee taxes26 2 24
Amortization of stock compensation1,520 1,520
Stock options exercised261 20 241
Other equity adjustments150 150 0
Ending Balance at Mar. 31, 2021 $ 858,423 $ 82,455 $ 600,089 $ 162,137 $ 13,742
Net proceeds from issuance of:
Accounting Standards Update [Extensible List]us-gaap:AccountingStandardsUpdate201613Member
[1]Impact due to the adoption of ASU 2016-13 Financial Instruments (Topic 326) (“ASU 2016-13”). See Part I. Item 1. “Notes to Unaudited Consolidated Financial Statements - Note 15: Recent Accounting Pronouncements.”

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (Unaudited) (Parenthetical) - $ / shares3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Dividends paid (in dollars per share) $ 0.06 $ 0.12
Repurchase of common stock, number of common shares (in shares)1,565,060
Shares of common stock issued (in shares)99,008 88,328
Incentive stock grant (in shares)2,782 5,539
Shares withheld for employee taxes (in shares)964 964

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Cash flows from operating activities:
Net income attributable to the Company $ 10,652 $ 800
Adjustments to arrive at net income:
Net income attributable to noncontrolling interests0 (6)
Net income before attribution to noncontrolling interests10,652 806
Adjustments to reconcile net income to net cash provided by/(used in) operating activities:
Depreciation and amortization4,692 6,345
Net income attributable to noncontrolling interests0 6
Stock compensation, net of cancellations1,559 1,421
Provision/(credit) for loan losses(7,004)16,962
Loans originated for sale(38,308)(15,324)
Proceeds from sale of Loans held for sale48,060 15,127
Deferred Income tax expense/(benefit)2,575 (5,731)
Decrease in Right-of-use assets4,635 3,179
Decrease in operating Lease liabilities(5,196)(3,640)
Increase in Merger cost liabilities8,665 0
Net (increase) in other operating activities(8,612)(27,617)
Net cash provided by/(used in) operating activities21,718 (8,478)
Investment securities available-for-sale:
Purchases(160,756)(8,874)
Maturities, calls, redemptions, and principal payments37,278 12,472
Investment securities held-to-maturity:
Principal payments3,182 2,730
Equity securities at fair value:
Purchases(8,256)(19,713)
Sales10,000 15,443
(Investments)/distributions in trusts, net(429)569
Contingent considerations from divestitures1,258 1,277
(Purchase)/redemption of Federal Home Loan Bank and Federal Reserve Bank stock12 (6,195)
Net increase in portfolio loans(110,006)(67,890)
Proceeds from recoveries of loans previously charged-off73 180
Capital expenditures(1,268)(1,975)
Net cash provided (used in) investing activities(228,912)(71,976)
Cash flows from financing activities:
Net increase/(decrease) in deposits552,252 (405,904)
Net (decrease) in securities sold under agreements to repurchase(7,210)(8,079)
Net increase in federal funds purchased0 145,000
Net increase in short-term Federal Home Loan Bank borrowings0 115,000
Advances of long-term Federal Home Loan Bank borrowings100,424 175,000
Repayments of long-term Federal Home Loan Bank borrowings(100,064)(149,575)
Dividends paid to common shareholders(4,946)(10,000)
Repurchase of common stock0 (12,807)
Proceeds from stock option exercises261 55
Proceeds from issuance of common stock695 920
Tax withholding for share based compensation awards(13)(11)
Distributions paid to noncontrolling interests0 (6)
Other equity adjustments150 96
Net cash provided by/(used in) financing activities541,549 (150,311)
Net increase/(decrease) in cash and cash equivalents334,355 (230,765)
Cash and cash equivalents at beginning of year1,055,588 292,479
Cash and cash equivalents at end of period1,389,943 61,714
Supplemental disclosure of cash flow items:
Cash paid for interest5,399 15,628
Cash paid for income taxes, (net of refunds received)1,600 872
Change in unrealized gain/(loss) on Investment securities available-for-sale, net of tax(17,993)14,489
Change in unrealized gain/(loss) on cash flow hedges, net of tax50 0
Non-cash transactions:
Loans charged-off $ (297) $ (528)

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies3 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting PoliciesBasis of Presentation and Summary of Significant Accounting Policies Boston Private Financial Holdings, Inc. (the “Company” or “BPFH”), is a bank holding company (the “Holding Company”) with two reportable segments: (i) Private Banking and (ii) Wealth Management and Trust. The Private Banking segment is comprised of the banking operations of Boston Private Bank & Trust Company (the “Bank” or “Boston Private Bank”), a wholly-owned subsidiary of the Company. Boston Private Bank is a trust company chartered by the Commonwealth of Massachusetts, whose deposits are insured by the Federal Deposit Insurance Corporation (the “FDIC”). Boston Private Bank is a member of the Board of Governors of the Federal Reserve System (the "Federal Reserve") and primarily operates in three geographic markets: New England, Northern California, and Southern California. The Private Banking segment is principally engaged in providing private banking services to high net worth individuals, privately-owned businesses and partnerships, and nonprofit organizations. In addition, the Private Banking segment is an active provider of financing for affordable housing, first-time homebuyers, economic development, social services, community revitalization and small businesses. The Wealth Management and Trust segment is comprised of Boston Private Wealth LLC (“Boston Private Wealth”), a registered investment adviser (“RIA”) and wholly-owned subsidiary of the Bank, as well as the trust operations of the Bank. The Wealth Management and Trust segment offers planning-based financial strategies, wealth management, family office, financial planning, tax planning, and trust services to individuals, families, institutions, and nonprofit institutions. The results of Dalton, Greiner, Hartman, Maher & Co., LLC (“DGHM”), a wholly-owned subsidiary of the Company, are included within the Holding Company and Eliminations for all periods presented. See Part II. Item 8. “Financial Statements and Supplementary Data - Note 3: Divestitures” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 for additional information. The Company conducts substantially all of its business through its two reportable segments. All significant intercompany accounts and transactions have been eliminated in consolidation, and the portion of income allocated to the owners other than the Company is included in “Net income attributable to noncontrolling interests”, if any, in the Consolidated Statements of Operations for the periods owned. Redeemable noncontrolling interests, if any, in the Consolidated Balance Sheets reflect the maximum redemption value of agreements with the owners of DGHM. The unaudited interim Consolidated Financial Statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and include all necessary adjustments of a normal recurring nature, which, in the opinion of management, are required for a fair presentation of the results of operations and financial condition of the Company. The interim results of consolidated operations are not necessarily indicative of the results for the entire year. The information in this report should be read in conjunction with the Consolidated Financial Statements and accompanying notes included in the Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the Securities and Exchange Commission (“SEC”). On January 4, 2021, the Company announced that it entered into an Agreement and Plan of Merger (the "Merger Agreement") with SVB Financial Group ("SVB") pursuant to which SVB will acquire the Company. On May 4, 2021, the shareholders of the Company approved the Merger Agreement. The transaction is expected to close mid-2021, subject to the satisfaction of customary closing conditions, including the receipt of regulatory approvals. The Company’s significant accounting policies are described in Part II. Item 8. “Financial Statements and Supplementary Data - Note 1: Basis of Presentation and Summary of Significant Accounting Policies” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC. For interim reporting purposes, the Company follows the same significant accounting policies. There were no new accounting pronouncements from the Financial Accounting Standards Board (the “FASB”) that were adopted effective January 1, 2021 with a material impact to the Company.

Earnings Per Share

Earnings Per Share3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]
Earnings Per ShareEarnings Per Share The treasury stock method of calculating earnings per share (“EPS”) is presented below for the three months ended March 31, 2021 and 2020. The following tables present the computations of basic and diluted EPS: Three months ended March 31, 2021 2020 (In thousands, except share and per share data) Basic earnings per share - Numerator: Net income before attribution to noncontrolling interests $ 10,652 $ 806 Less: Net income attributable to noncontrolling interests — 6 Net income attributable to the Company 10,652 800 Decrease in noncontrolling interests’ redemption values (1) — 414 Net income attributable to common shareholders, treasury stock method $ 10,652 $ 1,214 Basic earnings per share - Denominator: Weighted average basic common shares outstanding 82,429,162 83,005,064 Per share data - Basic earnings per share: Total attributable to common shareholders $ 0.13 $ 0.01 Three months ended March 31, 2021 2020 (In thousands, except share and per share data) Diluted earnings per share - Numerator: Net income attributable to common shareholders, after assumed dilution $ 10,652 $ 1,214 Diluted earnings per share - Denominator: Weighted average basic common shares outstanding 82,429,162 83,005,064 Dilutive effect of: Time-based and market-based stock options, performance-based and time-based restricted stock units, and other dilutive securities (2) 1,504,945 312,977 Weighted average diluted common shares outstanding (2) 83,934,107 83,318,041 Per share data - Diluted earnings per share: Total attributable to common shareholders $ 0.13 $ 0.01 Dividends per share declared and paid on common stock $ 0.06 $ 0.12 _____________________ (1) See Part II. Item 8. “Financial Statements and Supplementary Data - Note 14: Noncontrolling Interests” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 for a description of the redemption values related to the redeemable noncontrolling interests. In accordance with the FASB Accounting Standards Codification Distinguishing Liabilities from Equity (“ASC 480”), an increase in redemption value from period to period reduces income attributable to common shareholders. A decrease in redemption value from period to period increases income attributable to common shareholders, but only to the extent that the cumulative change in redemption value remains a cumulative increase since adoption of this standard in the first quarter of 2009. (2) The diluted EPS computations for the three months ended March 31, 2021 and 2020 do not assume the conversion, exercise, or contingent issuance of the following shares for the following periods because the result would have been anti-dilutive for the periods indicated. This includes shares excluded from the computation of diluted EPS because the effect would have been anti-dilutive and out-of-the money options, where the exercise prices were greater than the average market price of common shares for the period, because their inclusion would have been anti-dilutive. As a result of the anti-dilution, the potential common shares excluded from the diluted EPS computation are as follows: Three months ended March 31, 2021 2020 Anti-dilutive shares excluded from computation of average dilutive EPS (In thousands) Potential common shares from: options, restricted stock units, or other dilutive securities 333 1,254 Total anti-dilutive shares excluded from computation of average dilutive EPS 333 1,254

Reportable Segments

Reportable Segments3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]
Reportable SegmentsReportable Segments Management reporting The Company has two reportable segments: (i) Private Banking and (ii) Wealth Management and Trust, as well as Boston Private Financial Holdings, Inc. within Holding Company and Eliminations. The financial performance of the Company is managed and evaluated according to these two segments. Each segment is managed by a segment leader (“Segment Leader”) who has full authority and responsibility for the performance and the allocation of resources within their segment. The Company’s Chief Executive Officer (“CEO”) is the Company’s Chief Operating Decision Maker (“CODM”). The Segment Leader for Private Banking is the CEO of Boston Private Bank, who is also the Company’s CEO. The Bank’s banking operations are reported in the Private Banking segment. The Segment Leader for Wealth Management and Trust is the President of Private Banking, Wealth and Trust. The Segment Leader of Wealth Management and Trust reports to the CEO of the Company. The Segment Leaders have authority with respect to the allocation of capital within their respective segments, management oversight responsibility, performance assessments, and overall authority and accountability within their respective segment. The Company’s CODM communicates with the President of Private Banking, Wealth and Trust regarding profit and loss responsibility, strategic planning, priority setting, and other matters. The Company’s Chief Financial Officer reviews all financial detail with the CODM on a monthly basis. Description of reportable segments Private Banking The Private Banking segment operates primarily in three geographic markets: New England, Northern California, and Southern California. The Bank conducts business under the name of Boston Private Bank & Trust Company in all markets. The Bank is principally engaged in providing private banking services to high net worth individuals, privately-owned businesses and partnerships, and nonprofit organizations. In addition, the Bank is an active provider of financing for affordable housing, first-time homebuyers, economic development, social services, community revitalization, and small businesses. Wealth Management and Trust The Wealth Management and Trust segment is comprised of the trust operations of the Bank and the operations of Boston Private Wealth. The Wealth Management and Trust segment offers planning-based financial strategies, wealth management, family office, financial planning, tax planning, and trust services to individuals, families, institutions, and nonprofit institutions. The Wealth Management and Trust segment operates in New England, New York, Southeast Florida, Northern California, and Southern California. Measurement of segment profit and assets The accounting policies of the segments are the same as those described in Part I. Item 1. "Notes to Unaudited Consolidated Financial Statements - Note 1: Basis of Presentation and Summary of Significant Accounting Policies." Reconciliation of reportable segment items The following tables present a reconciliation of the revenues, expenses, assets, and other significant items of the reportable segments as of and for the three months ended March 31, 2021 and 2020. Three months ended March 31, 2021 2020 Private Banking (1) (In thousands) Net interest income $ 59,948 $ 58,090 Fees and other income 4,075 1,108 Total revenue 64,023 59,198 Provision/(credit) for loan losses (7,004) 16,962 Operating expense 44,460 42,588 Income/(loss) before income taxes 26,567 (352) Income tax expense/(benefit) 4,720 (931) Net income before attribution to noncontrolling interests 21,847 579 Net income attributable to the Company $ 21,847 $ 579 Assets $ 10,485,377 $ 8,692,069 Amortization of intangibles $ 189 $ 77 Depreciation $ 2,971 $ 2,626 Three months ended March 31, 2021 2020 Wealth Management and Trust (1) (In thousands) Net interest income $ 1 $ 72 Fees and other income 19,165 18,485 Total revenue 19,166 18,557 Operating expense 17,455 15,449 Income before income taxes 1,711 3,108 Income tax expense 499 1,074 Net income before attribution to noncontrolling interests 1,212 2,034 Net income attributable to the Company $ 1,212 $ 2,034 Assets $ 155,994 $ 143,998 Amortization of intangibles $ 478 $ 638 Depreciation $ 347 $ 294 Three months ended March 31, 2021 2020 Holding Company and Eliminations (1)(2) (In thousands) Net interest income (3) $ (472) $ (905) Fees and other income 2,930 1,928 Total revenue 2,458 1,023 Operating expense 14,008 2,871 Income/(loss) before income taxes (11,550) (1,848) Income tax expense/(benefit) 857 (41) Net income/(loss) before attribution to noncontrolling interests (12,407) $ (1,807) Noncontrolling interests — 6 Net income/(loss) attributable to the Company $ (12,407) $ (1,813) Assets (including eliminations) $ (102,879) $ (89,741) Depreciation $ 430 $ 39 Three months ended March 31, 2021 2020 Total Company (1) (In thousands) Net interest income $ 59,477 $ 57,257 Fees and other income 26,170 21,521 Total revenue 85,647 78,778 Provision/(credit) for loan losses (7,004) 16,962 Operating expense 75,923 60,908 Income before income taxes 16,728 908 Income tax expense 6,076 102 Net income before attribution to noncontrolling interests 10,652 806 Noncontrolling interests — 6 Net income attributable to the Company $ 10,652 $ 800 Assets $ 10,538,492 $ 8,746,326 Amortization of intangibles $ 667 $ 715 Depreciation $ 3,748 $ 2,959 _____________________ (1) Due to rounding, the sum of individual segment results may not add up to the Total Company results. (2) The Holding Company and Eliminations segment includes the results of DGHM. (3) Interest expense on Junior subordinated debentures is included in Holding Company and Eliminations.

Investments

Investments3 Months Ended
Mar. 31, 2021
Investments [Abstract]
InvestmentsInvestments The following table presents a summary of investment securities at March 31, 2021 and December 31, 2020: Amortized Unrealized Fair Gains Losses (In thousands) At March 31, 2021 Investment securities available-for-sale at fair value: U.S. government and agencies $ 19,964 $ 650 $ — $ 20,614 Government-sponsored entities 137,866 3,619 — 141,485 Municipal bonds 325,312 17,668 (585) 342,395 Mortgage-backed securities (1) 836,253 12,198 (13,537) 834,914 Total $ 1,319,395 $ 34,135 $ (14,122) $ 1,339,408 Investment securities held-to-maturity at amortized cost: Mortgage-backed securities (1) $ 31,943 $ 688 $ — $ 32,631 Total $ 31,943 $ 688 $ — $ 32,631 Equity securities at fair value: Money market mutual funds (2) $ 39,708 $ — $ — $ 39,708 Total $ 39,708 $ — $ — $ 39,708 At December 31, 2020 Investment securities available-for-sale at fair value: U.S. government and agencies $ 19,962 $ 1,022 $ — $ 20,984 Government-sponsored entities 142,985 4,801 — 147,786 Municipal bonds 324,422 22,177 (11) 346,588 Mortgage-backed securities (1) 711,144 17,805 (614) 728,335 Total $ 1,198,513 $ 45,805 $ (625) $ 1,243,693 Investment securities held-to-maturity at amortized cost: Mortgage-backed securities (1) $ 35,223 $ 719 $ — $ 35,942 Total $ 35,223 $ 719 $ — $ 35,942 Equity securities at fair value: Money market mutual funds (2) $ 41,452 $ — $ — $ 41,452 Total $ 41,452 $ — $ — $ 41,452 _____________________ (1) All Mortgage-backed securities are guaranteed by the U.S. government, U.S. government agencies, or government-sponsored entities. (2) Money market mutual funds maintain a constant net asset value of $1.00 and therefore have no unrealized gain or loss. The Company adopted ASU 2016-13 as of January 1, 2020. Under ASU 2016-13, the Company is required to assess the investment portfolio for credit impairment. The Company considers the Investment securities held-to-maturity portfolio to meet the "zero loss" expectation requirements. All Investment securities held-to-maturity owned by the Company are AAA- rated mortgage-backed securities that are backed by the guarantees of the U.S. government, U.S. government agencies or government-sponsored entities. The Company has experienced zero losses for these securities. In addition, as of March 31, 2021 and December 31, 2020, no Investment securities held-to-maturity were past due. Therefore, no credit allowance was recorded on the Investment securities held-to-maturity portfolio. The Company evaluated the Investment securities available-for-sale on a security by security basis by assessing the extent and duration of unrealized loss positions, significant deterioration in the financial performance of the issuer, significant adverse changes in the market, or other factors that could raise significant concerns about the issuer's ability to continue as a going concern. The Company identified no security with impairment as of March 31, 2021 and December 31, 2020. Therefore, no credit allowance was booked on the Investment securities available-for-sale portfolio. See Part I. Item 1. “Notes to Unaudited Consolidated Financial Statements - Note 15: Recent Accounting Pronouncements” for additional information on ASU 2016-13. The following table presents the maturities of Investment securities available-for-sale, based on contractual maturity, as of March 31, 2021. Certain securities are callable before their final maturity. Additionally, certain securities (such as Mortgage-backed securities) are shown within the table below based on their final (contractual) maturity, but due to prepayments and amortization are expected to have shorter lives. Investment Securities Available-for-sale Amortized Fair (In thousands) Within one year $ 78,206 $ 79,090 After one, but within five years 258,270 267,989 After five, but within ten years 227,730 237,588 Greater than ten years 755,189 754,741 Total $ 1,319,395 $ 1,339,408 The following table presents the maturities of Investment securities held-to-maturity, based on contractual maturity, as of March 31, 2021. Investment Securities Held-to-maturity Amortized Fair (In thousands) After five, but within ten years $ 26,376 $ 26,970 Greater than ten years 5,567 5,661 Total $ 31,943 $ 32,631 The following table presents the maturities of Equity securities, b ased on contractual maturity, as of March 31, 2021. Equity Securities Amortized Fair (In thousands) Within one year $ 39,708 $ 39,708 Total $ 39,708 $ 39,708 During the three months ended March 31, 2021 and 2020, there were no sales of Investment securities available-for-sale, Investment securities held-to-maturity, or Equity securities. The following tables present information regarding securities at March 31, 2021 and December 31, 2020 having temporary impairment, due to the fair values having declined below the amortized cost of the individual securities, and the time period that the investments have been temporarily impaired. As of March 31, 2021, there were no Investment securities held-to-maturity having temporary impairment. Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized # of (In thousands, except number of securities) March 31, 2021 Investment securities available-for-sale Municipal bonds $ 26,139 $ (585) $ — $ — $ 26,139 $ (585) 9 Mortgage-backed securities (1) 436,241 (13,456) 4,989 (81) 441,230 (13,537) 59 Total $ 462,380 $ (14,041) $ 4,989 $ (81) $ 467,369 $ (14,122) 68 Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized # of (In thousands, except number of securities) December 31, 2020 Investment securities available-for-sale Municipal bonds $ 2,344 $ (11) $ — $ — $ 2,344 $ (11) 2 Mortgage-backed securities (1) 126,545 (519) 5,411 (95) 131,956 (614) 41 Total $ 128,889 $ (530) $ 5,411 $ (95) $ 134,300 $ (625) 43 _____________________ (1) All Mortgage-backed securities are guaranteed by the U.S. government, U.S. government agencies, or government-sponsored entities. As of March 31, 2021, the Mortgage-backed securities in the first table above had Standard and Poor’s credit ratings of at least AAA. As of March 31, 2021, the Municipal securities in the first table above had Standard and Poor's credit ratings of AAA and AA+. As of March 31, 2021, the Company determined that the unrealized losses on investments, since their purchase, is primarily attributed to changes in interest rates and not as a result of the deterioration of credit quality. As of March 31, 2021, the Company had no intent to sell any securities in an unrealized loss position, and it is not more likely than not that the Company would be forced to sell any of these securities prior to the full recovery of all unrealized loss amounts. Other investments The Bank invests in low-income housing tax credits, which are included in Other assets, to encourage private capital investment in the construction and rehabilitation of low-income housing. The Bank makes these investments as an indirect subsidy that allows investors, such as the Bank, in a flow-through limited liability entity, such as limited partnerships or limited liability companies that manage or invest in qualified affordable housing projects, to receive the benefits of the tax credits allocated to the entity that owns the qualified affordable housing project. The Bank also holds partnership interests in venture capital funds formed to provide financing to small businesses and to promote community development. Other investments, which are included in Other assets, can be temporarily impaired when the fair values decline below the amortized costs of the individual investments. There were no other investments with unrealized losses as of March 31, 2021 or December 31, 2020. The Bank’s other investments primarily include low-income housing partnerships which generate tax credits. The Bank also holds partnership interests in small business investment companies formed to provide financing to small businesses and to promote community development. The Bank had $74.0 million

Fair Value Measurements

Fair Value Measurements3 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value MeasurementsFair Value Measurements Fair value is defined under GAAP as the exchange price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants on the measurement date. The Company determines the fair values of its financial instruments based on the fair value hierarchy established in ASC 820, Fair Value Measurements and Disclosures (“ASC 820”), which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value. Financial instruments are considered Level 1 when valuation can be based on quoted prices in active markets for identical assets or liabilities. Level 2 financial instruments are valued using quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or models using inputs that are observable or can be corroborated by observable market data of substantially the full term of the assets or liabilities. Financial instruments are considered Level 3 when their values are determined using pricing models, discounted cash flow methodologies or similar techniques and at least one significant model assumption or input is unobservable and when determination of the fair value requires significant management judgment or estimation. The following tables present the Company’s assets and liabilities measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020, aggregated by the level in the fair value hierarchy within which those measurements fall: As of March 31, 2021 Fair value measurements at reporting date using: Quoted prices in Significant Significant (In thousands) Assets: Investment securities available-for-sale: U.S. government and agencies $ 20,614 $ — $ 20,614 $ — Government-sponsored entities 141,485 — 141,485 — Municipal bonds 342,395 — 342,395 — Mortgage-backed securities 834,914 — 834,914 — Total 1,339,408 — 1,339,408 — Equity securities 39,708 39,708 — — Derivatives - interest rate customer swaps 53,682 — 53,682 — Derivatives - risk participation agreement 28 — 28 — Trading securities held in the “rabbi trust” (1) 7,633 7,633 — — Liabilities: Derivatives - interest rate customer swaps $ 54,529 $ — $ 54,529 $ — Derivatives - interest rate swaps 157 — 157 — Derivatives - risk participation agreement 211 — 211 — Deferred compensation “rabbi trust” (1) 7,633 7,633 — — Fair value measurements at reporting date using: As of December 31, 2020 Quoted prices in Significant Significant (In thousands) Assets: Investment securities available-for-sale: U.S. government and agencies $ 20,984 $ — $ 20,984 $ — Government-sponsored entities 147,786 — 147,786 — Municipal bonds 346,588 — 346,588 — Mortgage-backed securities 728,335 — 728,335 — Total 1,243,693 — 1,243,693 — Equity securities 41,452 41,452 — — Derivatives - interest rate customer swaps 83,255 — 83,255 — Derivatives - risk participation agreements 49 — 49 — Trading securities held in the “rabbi trust” (1) 7,204 7,204 — — Liabilities: Derivatives - interest rate customer swaps $ 84,590 $ — $ 84,590 $ — Derivatives - interest rate swaps 228 — 228 — Derivatives - risk participation agreements 375 — 375 — Deferred compensation “rabbi trust” (1) 7,204 7,204 — — _____________________ (1) The Company has adopted a special trust for the Deferred Compensation Plan called a “rabbi trust.” The rabbi trust is an arrangement that is used to accumulate assets that may be used to fund the Company’s obligation to pay benefits under the Deferred Compensation Plan. To prevent immediate taxation to the executives who participate in the Deferred Compensation Plan, the amounts placed in the rabbi trust must remain subject to the claims of the Company’s creditors. The investments chosen by the participants in the Deferred Compensation Plan are mirrored by the rabbi trust as a way to minimize the earnings volatility of the Deferred Compensation Plan. As of March 31, 2021 and December 31, 2020, Investment securities available-for-sale consisted of U.S. government and agencies securities, Government-sponsored entities securities, Municipal bonds, and Mortgage-backed securities. Investment securities available-for-sale Level 2 securities generally have quoted prices but are traded less frequently than exchange-traded securities and can be priced using market data from similar assets and include Government-sponsored entities securities, Municipal bonds, Mortgage-backed securities, “off-the-run” U.S. Treasury securities, and certain investments in the Small Business Administration's (the "SBA") loans (which are categorized as U.S. government and agencies securities). “Off-the-run” U.S. Treasury securities are Treasury bonds and notes issued before the most recently issued bond or note of a particular maturity. When Treasuries move to the secondary over-the-counter market, they become less frequently traded, therefore, they are considered “off-the-run.” No investments held as of March 31, 2021 or December 31, 2020 were categorized as Level 3. As of March 31, 2021 and December 31, 2020, Equity securities consisted of Level 1 money market mutual funds that are valued with prices quoted in active markets. In managing its interest rate and credit risk, the Company may utilize derivative instruments including interest rate customer swaps, interest rate swaps, and risk participation agreements. As a service to its customers, the Company may utilize derivative instruments including customer foreign exchange forward contracts to manage its foreign exchange risk, if any. The valuation of these instruments is determined using widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities, and therefore, they have been categorized as a Level 2 measurement as of March 31, 2021 and December 31, 2020. See Part I. Item 1. “Notes to Unaudited Consolidated Financial Statements - Note 8: Derivatives and Hedging Activities” for further details. To comply with the provisions of ASC 820, the Company incorporates credit valuation adjustments to appropriately reflect both its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts and guarantees. Counterparty exposure is evaluated by netting positions that are subject to master netting agreements, as well as considering the amount of collateral securing the position. The Company has determined that the majority of inputs used to value its derivatives are within Level 2. As a result, the Company has determined that its derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy as of March 31, 2021 and December 31, 2020. Trading securities held in the "rabbi trust" consist of publicly traded mutual fund investments that are valued at prices quoted in active markets. Therefore, they have been categorized as Level 1 as of March 31, 2021 and December 31, 2020. The Company accounts for its investments held in the rabbi trust in accordance with ASC 320, Investments - Debt and Equity Securities. The investments held in the rabbi trust are classified as trading securities. The assets of the rabbi trust are carried at their fair value within Other assets on the Consolidated Balance Sheets. Changes in the fair value of the securities are recorded as an increase or decrease in Other income each quarter. The deferred compensation liability reflects the market value of the securities selected by the participants and is included within Other liabilities on the Consolidated Balance Sheets. Changes in the fair value of the liability are recorded as an increase or decrease in Salaries and employee benefits expense each quarter. There were no transfers for assets or liabilities recorded at fair value on a recurring basis as of March 31, 2021 and December 31, 2020. There were no Level 3 assets valued on a recurring basis at March 31, 2021 or December 31, 2020. There were no changes in the valuation techniques used for measuring the fair value. The following tables present the Company’s assets measured at fair value on a non-recurring basis during the periods ended March 31, 2021 and March 31, 2020, aggregated by the level in the fair value hierarchy within which those measurements fall. As of March 31, 2021 Fair value measurements at reporting date using: Gain (losses) from fair value changes Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Three months ended March 31, 2021 (In thousands) Assets: Impaired loans (1) $ 5,205 $ — $ — $ 5,205 $ (435) _____________________ (1) Collateral-dependent impaired loans held as of March 31, 2021 that had write-downs or recoveries in fair value or whose specific reserve changed during the three months ended March 31, 2021. As of March 31, 2020 Fair value measurements at reporting date using: Gain (losses) from fair value changes Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Three months ended March 31, 2020 (In thousands) Assets: Impaired loans (1) $ 97 $ — $ — $ 97 $ 21 _____________________ (1) Collateral-dependent impaired loans held as of March 31, 2020 that had write-downs or recoveries in fair value or whose specific reserve changed during the three months ended March 31, 2020. The following tables present additional quantitative information about assets measured at fair value on a non-recurring basis for which the Company has utilized Level 3 inputs to determine fair value: As of March 31, 2021 Fair Value Valuation Unobservable Range of Weighted (In thousands) Impaired Loans $ 5,205 Appraisals of Collateral Discount for costs to sell 5% - 10% 5% Appraisal adjustments —% —% As of March 31, 2020 Fair Value Valuation Unobservable Range of Weighted (In thousands) Impaired Loans $ 97 Appraisals of Collateral Discount for costs to sell 10% - 10% 10% Appraisal adjustments —% —% Impaired loans include those loans that were adjusted to the fair value of underlying collateral as required under ASC 310, Receivables . The amount does not include impaired loans that are measured based on expected future cash flows discounted at the respective loan’s original effective interest rate, as that amount is not considered a fair value measurement. The Company uses appraisals, which management may adjust to reflect estimated fair value declines, or may apply other discounts to appraised values for unobservable factors resulting from its knowledge of the property or consideration of broker quotes. The appraisers use a market, income, and/or a cost approach in determining the value of the collateral. Therefore, they have been categorized as a Level 3 measurement. The following tables present the carrying values and fair values of the Company’s financial instruments that are not measured at fair value on a recurring basis: As of March 31, 2021 Book Value Fair Value Quoted prices Significant Significant (In thousands) FINANCIAL ASSETS: Cash and cash equivalents $ 1,389,943 $ 1,389,943 $ 1,389,943 $ — $ — Investment securities held-to-maturity 31,943 32,631 — 32,631 — Loans held for sale 8,434 8,431 — 8,431 — Loans, net 7,142,315 7,035,003 — — 7,035,003 Other financial assets 56,917 56,917 — 56,917 — FINANCIAL LIABILITIES: Deposits 9,147,618 9,148,568 — 9,148,568 — Securities sold under agreements to repurchase 46,262 46,262 — 46,262 — Federal Home Loan Bank borrowings 115,019 115,410 — 115,410 — Junior subordinated debentures 106,363 69,863 — — 69,863 Other financial liabilities 1,751 1,751 — 1,751 — As of December 31, 2020 Book Value Fair Value Quoted prices Significant Significant (In thousands) FINANCIAL ASSETS: Cash and cash equivalents $ 1,055,588 $ 1,055,588 $ 1,055,588 $ — $ — Investment securities held-to-maturity 35,223 35,942 — 35,942 — Loans held for sale 17,421 17,782 — 17,782 — Loans, net 7,023,071 6,980,202 — — 6,980,202 Other financial assets 57,654 57,654 — 57,654 — FINANCIAL LIABILITIES: Deposits 8,595,366 8,596,193 — 8,596,193 — Securities sold under agreements to repurchase 53,472 53,472 — 53,472 — Federal Home Loan Bank borrowings 114,659 115,284 — 115,284 — Junior subordinated debentures 106,363 69,863 — — 69,863 Other financial liabilities 1,734 1,734 — 1,734 — The estimated fair values have been determined by using available quoted market information or other appropriate valuation methodologies. The aggregate fair value amounts presented above do not represent the underlying value of the financial assets and liabilities of the Company taken as a whole as they do not reflect any premium or discount the Company might recognize if the assets were sold or the liabilities sold, settled, or redeemed. An excess of fair value over book value on financial assets represents a premium, or gain, the Company might recognize if the assets were sold, while an excess of book value over fair value on financial liabilities represents a premium, or gain, the Company might recognize if the liabilities were sold, settled, or redeemed prior to maturity. Conversely, losses would be recognized if assets were sold where the book value exceeded the fair value or liabilities were sold where the fair value exceeded the book value. The fair value estimates provided are made at a specific point in time, based on relevant market information and the characteristics of the financial instrument. The estimates do not provide for any premiums or discounts that could result from concentrations of ownership of a financial instrument. Because no active market exists for some of the Company’s financial instruments, certain fair value estimates are based on subjective judgments regarding current economic conditions, risk characteristics of the financial instruments, future expected loss experience, prepayment assumptions, and other factors. The resulting estimates involve uncertainties and are considered best estimates. Changes made to any of the underlying assumptions could significantly affect the estimates. Cash and cash equivalents The carrying value reported in the Consolidated Balance Sheets for Cash and cash equivalents approximates fair value due to the short-term nature of their maturities, and these assets are classified as Level 1 measurements. Investment securities held-to-maturity Investment securities held-to-maturity consist of Mortgage-backed securities as of March 31, 2021 and December 31, 2020. The Mortgage-backed securities are fixed income instruments that are not quoted on an exchange but may be traded in active markets. The fair value of these securities is based on quoted market prices obtained from external pricing services. The principal market for our securities portfolio is the secondary institutional market, with an exit price that is predominantly reflective of bid level pricing in that market. Accordingly, Investment securities held-to-maturity Mortgage-backed securities are classified as Level 2 measurement. There were no transfers of the Company's financial instruments that are not measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020. Loans held for sale Loans held for sale are recorded at the lower of cost or fair value in the aggregate. Fair value estimates are based on actual commitments to sell the loans to investors at an agreed upon price or current market prices if rates have changed since the time the loan closed. Accordingly, loans held for sale are included in the Level 2 fair value category. Loans, net Fair value estimates are based on loans with similar financial characteristics. The Company estimates the fair value of loans using the exit price notion under ASU 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities , which includes identifying an exit price using current market information for origination rates and making certain adjustments to incorporate credit risk, transaction costs and other adjustments utilizing publicly available rates and indexes. Loans, net are included in the Level 3 fair value category based upon the inputs and valuation techniques used. Other financial assets Other financial assets consist of accrued interest and fees receivable, and stock in the Federal Home Loan Bank of Boston (“FHLB”) and the Federal Reserve Bank of Boston (“FRB”), for which the carrying amount approximates fair value, and these assets are classified as Level 2 measurements. Deposits The fair values reported for transaction accounts (demand, NOW, savings, and money market) equal their respective book values reported on the Consolidated Balance Sheets, and these liabilities are classified as Level 2 measurements. The fair values disclosed are, by definition, equal to the amount payable on demand at the reporting date. The fair values for certificates of deposit are based on the discounted value of contractual cash flows. The discount rates used are representative of approximate rates currently offered on certificates of deposit with similar remaining maturities, and these liabilities are classified as Level 2 measurements. Securities sold under agreements to repurchase The fair values of Securities sold under agreements to repurchase are estimated based on contractual cash flows discounted at the Bank’s incremental borrowing rate for FHLB borrowings with similar maturities, and these liabilities have been classified as Level 2 measurements. Federal funds purchased, if any The carrying amounts of Federal funds purchased, if any, approximate fair value due to their short-term nature, and therefore, these funds have been classified as Level 2 measurements. Federal Home Loan Bank borrowings The fair values reported for FHLB borrowings are estimated based on the discounted value of contractual cash flows. The discount rate used is based on the Bank’s estimated current incremental borrowing rate for FHLB borrowings with similar maturities, and therefore, these borrowings have been classified as Level 2 measurements. Junior subordinated debentures The fair values of the Junior subordinated debentures issued by Boston Private Capital Trust I and Boston Private Capital Trust II are estimated using Level 3 inputs such as the interest rates on these securities, current rates for similar debt, and regulatory changes that would result in an unfavorable change in the regulatory capital treatment of this type of debt. Other financial liabilities Other financial liabilities consist of accrued interest payable for which the carrying amount approximates fair value and is classified as Level 2 measurements. Financial instruments with off-balance sheet risk, if any The Bank’s commitments to originate loans and for unused lines and outstanding letters of credit are primarily at market interest rates, and therefore, the carrying amount approximates fair value.

Loan Portfolio and Credit Quali

Loan Portfolio and Credit Quality3 Months Ended
Mar. 31, 2021
Loans and Leases Receivable Disclosure [Abstract]
Loan Portfolio and Credit QualityLoan Portfolio and Credit Quality The Bank’s lending activities are conducted principally in the regions of New England, Northern California, and Southern California. The Bank originates single and multi-family residential loans, commercial real estate loans, commercial and industrial loans, commercial tax-exempt loans, construction and land loans, and home equity and other consumer loans. Most loans are secured by borrowers’ personal or business assets. The ability of the Bank’s single family residential and consumer borrowers to honor their repayment commitments is generally dependent on the level of overall economic conditions within the Bank’s lending areas. Commercial, construction, and land borrowers’ ability to repay is generally dependent upon the health of the economy and real estate values, including the performance of the construction sector. Accordingly, the ultimate collectability of a substantial portion of the Bank’s loan portfolio is susceptible to changing conditions in the New England, Northern California, and Southern California economies and real estate markets. The following table presents a summary of the loan portfolio based on the portfolio segment as of the dates indicated: March 31, 2021 December 31, 2020 (In thousands) Commercial and industrial $ 668,217 $ 558,343 Paycheck Protection Program 351,170 312,356 Commercial tax-exempt 488,507 442,159 Commercial real estate 2,697,677 2,757,375 Construction and land 181,482 159,204 Residential 2,632,554 2,677,464 Home equity 71,752 77,364 Consumer and other 124,966 120,044 Total $ 7,216,325 $ 7,104,309 The following table presents nonaccrual loans receivable by class of receivable as of the dates indicated: March 31, 2021 December 31, 2020 (In thousands) Commercial and industrial $ 4,766 $ 4,394 Commercial real estate 5,859 5,261 Residential 14,475 13,780 Home equity 651 415 Consumer and other 13 1 Total $ 25,764 $ 23,851 The Bank’s policy is to discontinue the accrual of interest on a loan when the collectability of principal or interest is in doubt. In certain instances, although infrequent, loans that have become 90 days or more past due may remain on accrual status if the value of the collateral securing the loan is sufficient to cover principal and interest and the loan is in the process of collection. There were no loans 90 days or more past due, but still accruing, as of both March 31, 2021 and December 31, 2020. The Bank’s policy for returning a loan to accrual status requires the loan to be brought current and for the client to show a history of making timely payments (generally six consecutive months). For troubled debt restructured loans (“TDRs”), a return to accrual status generally requires timely payments for a period of six months in accordance with the restructured loan terms, along with meeting other criteria. The following tables show the payment status of loans receivable by class of receivable as of the dates indicated: March 31, 2021 Accruing Past Due Nonaccrual Loans 30-59 Days Past Due 60-89 Days Past Due Total Accruing Past Due Current 30-89 Days Past Due 90 Days or Total Non-Accrual Loans Current Accruing Loans Total (In thousands) Commercial and industrial $ 2,914 $ — $ 2,914 $ 1,832 $ 1,914 $ 1,020 $ 4,766 $ 660,537 $ 668,217 Paycheck Protection Program — — — — — — — 351,170 351,170 Commercial tax-exempt — — — — — — — 488,507 488,507 Commercial real estate — — — 601 — 5,258 5,859 2,691,818 2,697,677 Construction and land — — — — — — — 181,482 181,482 Residential 4,044 — 4,044 8,838 1,655 3,982 14,475 2,614,035 2,632,554 Home equity 104 — 104 611 — 40 651 70,997 71,752 Consumer and other 173 14 187 13 — — 13 124,766 124,966 Total $ 7,235 $ 14 $ 7,249 $ 11,895 $ 3,569 $ 10,300 $ 25,764 $ 7,183,312 $ 7,216,325 December 31, 2020 Accruing Past Due Nonaccrual Loans 30-59 Days Past Due 60-89 Days Past Due Total Accruing Past Due Current 30-89 Days Past Due 90 Days or Greater Past Due Total Non-Accrual Loans Current Accruing Loans Total Loans Receivable (In thousands) Commercial and industrial $ 1,837 $ 522 $ 2,359 $ 3,934 $ 87 $ 373 $ 4,394 $ 551,590 $ 558,343 Paycheck Protection Program — — — — — — — 312,356 312,356 Commercial tax-exempt — — — — — — — 442,159 442,159 Commercial real estate 136 491 627 — — 5,261 5,261 2,751,487 2,757,375 Construction and land — — — — — — — 159,204 159,204 Residential 10,960 4,538 15,498 8,183 1,521 4,076 13,780 2,648,186 2,677,464 Home equity 1,107 256 1,363 228 — 187 415 75,586 77,364 Consumer and other 15 — 15 — 1 — 1 120,028 120,044 Total $ 14,055 $ 5,807 $ 19,862 $ 12,345 $ 1,609 $ 9,897 $ 23,851 $ 7,060,596 $ 7,104,309 Nonaccrual and delinquent loans are affected by many factors, such as economic and business conditions, interest rates, unemployment levels, and real estate collateral values, among others. In periods of prolonged economic decline, borrowers may become more severely affected over time as liquidity levels decline and the borrower’s ability to continue to make payments deteriorates. With respect to real estate collateral values, the declines from the peak, as well as the value of the real estate at the time of origination versus the current value, can impact the level of problem loans. For instance, if the loan to value ratio at the time of renewal has increased due to the decline in the real estate value since origination, the loan may no longer meet the Bank’s underwriting standards and may be considered for classification as a problem loan dependent upon a review of risk factors. There could be an increase in these situations as the economic conditions brought on by the COVID-19 pandemic could lead to a decline in collateral values. Generally, when a collateral dependent loan becomes impaired, an updated appraisal of the collateral, if appropriate, is obtained. If the impaired loan has not been upgraded to a performing status within a reasonable amount of time, the Bank will continue to obtain updated appraisals as deemed necessary, especially during periods of declining property values. The past due status of a loan is determined in accordance with its contractual repayment terms. All loan types are reported past due when one scheduled payment is due and unpaid for 30 days or more. Loans with modified terms under the CARES Act are not considered past due if they are complying with the modified terms. Credit quality indicators The Bank uses a risk rating system to monitor the credit quality of its loan portfolio. Loan classifications are assessments made by the Bank of the status of the loans based on the facts and circumstances known to the Bank, including management’s judgment, at the time of assessment. Some or all of these classifications may change in the future if there are unexpected changes in the financial condition of the borrower, including but not limited to, changes resulting from deterioration in employment levels, general business and economic conditions on a national basis or in the local markets in which the Bank operates adversely affecting, among other things, real estate values. Such conditions, as well as other factors which adversely affect borrowers’ ability to service or repay loans, typically result in changes in loan default and charge-off rates, and increased provisions for loan losses, which would adversely affect the Company’s financial performance and financial condition. These circumstances are not entirely foreseeable and, as a result, it may not be possible to accurately reflect them in the Company’s analysis of credit risk. Generally, only commercial loans, including commercial real estate, other commercial and industrial loans, commercial tax-exempt loans, and construction and land loans, are given a numerical grade. A summary of the rating system used by the Bank is included here from Part II. Item 8. “Financial Statements and Supplementary Data - Note 1: Basis of Presentation and Summary of Significant Accounting Policies,” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, follows: Pass - All loans graded as pass are considered acceptable credit quality by the Bank and are grouped for purposes of calculating the allowance for loan losses. For residential, home equity and consumer loans, the Bank classifies loans as pass unless there is known information such as delinquency or client requests for modifications which, due to financial difficulty, would then generally result in a risk rating such as special mention or more severe depending on the factors. Special mention - Loans rated in this category are defined as having potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may, at some future date, result in the deterioration of the repayment prospects for the credit or the Bank’s credit position. These loans are currently protected but have the potential to deteriorate to a substandard rating. For commercial loans, the borrower’s financial performance may be inconsistent or below forecast, creating the possibility of liquidity problems and shrinking debt service coverage. In loans having this rating, the primary source of repayment is still good, but there is increasing reliance on collateral or guarantor support. Collectability of the loan is not yet in jeopardy. In particular, loans in this category are considered more variable than other categories, since they will typically migrate through categories more quickly. Substandard - Loans rated in this category are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. A substandard credit has 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. Substandard loans may be either still accruing or nonaccruing depending upon the severity of the risk and other factors such as the value of the collateral, if any, and past due status. Doubtful - Loans rated in this category indicate that collection or liquidation in full on the basis of currently existing facts, conditions, and values, is highly questionable and improbable. Loans in this category are usually on nonaccrual and classified as impaired. These above credit quality indicators are assigned upon origination with commercial loans reassessed on an annual basis while noncommercial loans are reassessed when the loan becomes past due greater than 90 days or when ad-hoc information becomes available to the loan officer. Further, the commercial loan portfolio is subject for selection of an independent review on an annual basis. In addition, those loans not considered to be "Pass" rated, are subject to a Loan Committee review on a quarterly basis. Lastly, on an ad-hoc basis as new information becomes available to the loan officer on the credit quality of the borrower, the credit quality indicators are reassessed. The following tables present the loan portfolio’s credit risk profile by internally assigned grade and class of receivable as of the dates indicated: March 31, 2021 By Loan Grade or Nonaccrual Status Pass Special Accruing Nonaccrual Total (In thousands) Commercial and industrial $ 623,253 $ 12,795 $ 27,403 $ 4,766 $ 668,217 Paycheck Protection Program 351,170 — — — 351,170 Commercial tax-exempt 485,720 2,787 — — 488,507 Commercial real estate 2,452,482 133,609 105,727 5,859 2,697,677 Construction and land 178,501 2,981 — — 181,482 Residential 2,615,079 — 3,000 14,475 2,632,554 Home equity 71,101 — — 651 71,752 Consumer and other 124,653 300 — 13 124,966 Total $ 6,901,959 $ 152,472 $ 136,130 $ 25,764 $ 7,216,325 December 31, 2020 By Loan Grade or Nonaccrual Status Pass Special Accruing Nonaccrual Total (In thousands) Commercial and industrial $ 519,680 $ 11,314 $ 22,955 $ 4,394 $ 558,343 Paycheck Protection Program 312,356 — — — 312,356 Commercial tax-exempt 434,850 2,806 4,503 — 442,159 Commercial real estate 2,505,424 170,521 76,169 5,261 2,757,375 Construction and land 156,908 2,296 — — 159,204 Residential 2,660,684 — 3,000 13,780 2,677,464 Home equity 76,693 — 256 415 77,364 Consumer and other 119,743 300 — 1 120,044 Total $ 6,786,338 $ 187,237 $ 106,883 $ 23,851 $ 7,104,309 ______________________ (1) Accruing Classified may include both Substandard and Doubtful classifications. The following tables present the loan portfolio’s credit risk profile by loan origination year and class of receivable as of the dates indicated: March 31, 2021 Loan Origination Year By Loan Grade or Nonaccrual Status 2021 2020 2019 2018 2017 Prior Revolving Revolving Converted to Term (2) Total (In thousands) Commercial and industrial Pass $ 22,837 $ 92,124 $ 71,592 $ 57,958 $ 12,334 $ 56,994 $ 301,010 $ 8,404 $ 623,253 Special Mention — 321 4,919 952 — 2,588 3,764 251 12,795 Accruing Classified (1) 4,600 1,992 195 6,241 659 63 7,709 5,944 27,403 Nonaccrual — — 375 346 16 903 884 2,242 4,766 Total $ 27,437 $ 94,437 $ 77,081 $ 65,497 $ 13,009 $ 60,548 $ 313,367 $ 16,841 $ 668,217 Paycheck Protection Program Pass $ 113,041 $ 238,129 $ — $ — $ — $ — $ — $ — $ 351,170 Total $ 113,041 $ 238,129 $ — $ — $ — $ — $ — $ — $ 351,170 Commercial tax-exempt Pass $ — $ 89,135 $ 38,215 $ 40,285 $ 24,410 $ 290,684 $ — $ 2,991 $ 485,720 Special Mention — — — — — 2,787 — — 2,787 Total $ — $ 89,135 $ 38,215 $ 40,285 $ 24,410 $ 293,471 $ — $ 2,991 $ 488,507 Commercial real estate Pass $ 65,639 $ 264,428 $ 444,717 $ 248,987 $ 301,316 $ 1,022,447 $ 90,477 $ 14,471 $ 2,452,482 Special Mention — 18,253 15,913 2,317 17,744 79,382 — — 133,609 Accruing Classified (1) — 5,586 49,581 23,964 12,787 13,809 — — 105,727 Nonaccrual — — 5,212 — 598 — 49 — 5,859 Total $ 65,639 $ 288,267 $ 515,423 $ 275,268 $ 332,445 $ 1,115,638 $ 90,526 $ 14,471 $ 2,697,677 Construction and land Pass $ 6,774 $ 57,925 $ 73,762 $ 21,550 $ 16,262 $ 2,228 $ — $ — $ 178,501 Special Mention — — — 2,981 — — — — 2,981 Total $ 6,774 $ 57,925 $ 73,762 $ 24,531 $ 16,262 $ 2,228 $ — $ — $ 181,482 Residential Pass $ 138,273 $ 599,553 $ 436,633 $ 338,505 $ 348,499 $ 753,601 $ — $ 15 $ 2,615,079 Accruing Classified (1) — — — — — 3,000 — — 3,000 Nonaccrual — — 603 473 2,373 11,026 — — 14,475 Total $ 138,273 $ 599,553 $ 437,236 $ 338,978 $ 350,872 $ 767,627 $ — $ 15 $ 2,632,554 Home equity Pass $ — $ — $ — $ — $ — $ 1,367 $ 59,919 $ 9,815 $ 71,101 Nonaccrual — — — — — 256 139 256 651 Total $ — $ — $ — $ — $ — $ 1,623 $ 60,058 $ 10,071 $ 71,752 Consumer and other Pass $ 964 $ 653 $ 147 $ 19 $ — $ 593 $ 122,277 $ — $ 124,653 Special Mention — — — — — — 300 — 300 Nonaccrual — — — — — — 13 — 13 Total $ 964 $ 653 $ 147 $ 19 $ — $ 593 $ 122,590 $ — $ 124,966 Total Pass $ 347,528 $ 1,341,947 $ 1,065,066 $ 707,304 $ 702,821 $ 2,127,914 $ 573,683 $ 35,696 $ 6,901,959 Special Mention — 18,574 20,832 6,250 17,744 84,757 4,064 251 152,472 Accruing Classified (1) 4,600 7,578 49,776 30,205 13,446 16,872 7,709 5,944 136,130 Nonaccrual — — 6,190 819 2,987 12,185 1,085 2,498 25,764 Total $ 352,128 $ 1,368,099 $ 1,141,864 $ 744,578 $ 736,998 $ 2,241,728 $ 586,541 $ 44,389 $ 7,216,325 ______________________ (1) Accruing Classified may include both Substandard and Doubtful classifications. (2) Amounts for revolving loans converted to term loans represent only those loans that have been converted to term loans after December 31, 2016. Due to data limitations, information prior to December 31, 2016 is unavailable. December 31, 2020 Loan Origination Year By Loan Grade or Nonaccrual Status 2020 2019 2018 2017 2016 Prior Revolving Revolving Converted to Term (2) Total (In thousands) Commercial and industrial Pass $ 96,230 $ 80,949 $ 65,506 $ 13,378 $ 17,972 $ 43,592 $ 191,252 $ 10,801 $ 519,680 Special Mention 358 2,413 1,008 674 — 2,688 3,911 262 11,314 Accruing Classified (1) 1,184 223 6,247 — — 110 8,683 6,508 22,955 Nonaccrual — 141 350 — 813 14 1,012 2,064 4,394 Total $ 97,772 $ 83,726 $ 73,111 $ 14,052 $ 18,785 $ 46,404 $ 204,858 $ 19,635 $ 558,343 Paycheck Protection Program Pass $ 312,356 $ — $ — $ — $ — $ — $ — $ — $ 312,356 Total $ 312,356 $ — $ — $ — $ — $ — $ — $ — $ 312,356 Commercial tax-exempt Pass $ 53,225 $ 20,586 $ 40,451 $ 24,624 $ 102,133 $ 190,798 $ — $ 3,033 $ 434,850 Special Mention — — — — — 2,806 — — 2,806 Accruing Classified (1) — — — — — 4,503 — — 4,503 Total $ 53,225 $ 20,586 $ 40,451 $ 24,624 $ 102,133 $ 198,107 $ — $ 3,033 $ 442,159 Commercial real estate Pass $ 311,605 $ 462,144 $ 247,228 $ 308,437 $ 375,713 $ 657,563 $ 126,544 $ 16,190 $ 2,505,424 Special Mention 21,661 13,851 12,382 29,461 37,123 56,043 — — 170,521 Accruing Classified (1) 3,161 49,637 14,000 — — 9,371 — — 76,169 Nonaccrual — 5,212 — — — — 49 — 5,261 Total $ 336,427 $ 530,844 $ 273,610 $ 337,898 $ 412,836 $ 722,977 $ 126,593 $ 16,190 $ 2,757,375 Construction and land Pass $ 43,042 $ 63,914 $ 31,434 $ 16,288 $ 2,230 $ — $ — $ — $ 156,908 Special Mention — — 2,296 — — — — — 2,296 Total $ 43,042 $ 63,914 $ 33,730 $ 16,288 $ 2,230 $ — $ — $ — $ 159,204 Residential Pass $ 603,414 $ 471,237 $ 366,390 $ 388,845 $ 352,330 $ 478,468 $ — $ — $ 2,660,684 Accruing Classified (1) — — — — — 3,000 — — 3,000 Nonaccrual — 604 272 2,373 62 10,469 — — 13,780 Total $ 603,414 $ 471,841 $ 366,662 $ 391,218 $ 352,392 $ 491,937 $ — $ — $ 2,677,464 Home equity Pass $ — $ — $ 252 $ — $ 686 $ 553 $ 64,985 $ 10,217 $ 76,693 Accruing Classified (1) — — — — — — — 256 256 Nonaccrual — — — — — 276 139 — 415 Total $ — $ — $ 252 $ — $ 686 $ 829 $ 65,124 $ 10,473 $ 77,364 Consumer and other Pass $ 728 $ 158 $ 25 $ — $ 81 $ 574 $ 118,177 $ — $ 119,743 Special Mention — — — — — — 300 — 300 Nonaccrual — — — — — — 1 — 1 Total $ 728 $ 158 $ 25 $ — $ 81 $ 574 $ 118,478 $ — $ 120,044 Total Pass $ 1,420,600 $ 1,098,988 $ 751,286 $ 751,572 $ 851,145 $ 1,371,548 $ 500,958 $ 40,241 $ 6,786,338 Special Mention 22,019 16,264 15,686 30,135 37,123 61,537 4,211 262 187,237 Accruing Classified (1) 4,345 49,860 20,247 — — 16,984 8,683 6,764 106,883 Nonaccrual — 5,957 622 2,373 875 10,759 1,201 2,064 23,851 Total $ 1,446,964 $ 1,171,069 $ 787,841 $ 784,080 $ 889,143 $ 1,460,828 $ 515,053 $ 49,331 $ 7,104,309 ______________________ (1) Accruing Classified may include both Substandard and Doubtful classifications. (2) Amounts for revolving loans converted to term loans represent only those loans that have been converted to term loans after December 31, 2016. Due to data limitations, information prior to December 31, 2016 is unavailable. The following tables present, by class of receivable, the balance of impaired loans with and without a related allowance, the associated allowance for those impaired loans with a related allowance, and the total unpaid principal on impaired loans: As of and for the three months ended March 31, 2021 Recorded Investment (1) Unpaid Principal Balance Related Allowance YTD Average Recorded Investment YTD Interest Income Recognized while Impaired (In thousands) With no related allowance recorded: Commercial and industrial $ 3,806 $ 3,880 n/a $ 3,594 $ — Paycheck Protection Program — — n/a — — Commercial tax-exempt — — n/a — — Commercial real estate — — n/a 1,303 — Construction and land — — n/a — — Residential 14,710 14,974 n/a 14,564 90 Home equity (2) 355 355 n/a 362 8 Consumer and other — — n/a — — Subtotal $ 18,871 $ 19,209 n/a $ 19,823 $ 98 With an allowance recorded: Commercial and industrial $ 610 $ 629 $ 541 $ 789 $ — Paycheck Protection Program — — — — — Commercial tax-exempt — — — — — Commercial real estate 5,261 5,434 125 3,958 — Construction and land — — — — — Residential 341 341 51 384 2 Home equity 256 256 17 256 — Consumer and other — — — — — Subtotal $ 6,468 $ 6,660 $ 734 $ 5,387 $ 2 Total: Commercial and industrial $ 4,416 $ 4,509 $ 541 $ 4,383 $ — Paycheck Protection Program — — — — — Commercial tax-exempt — — — — — Commercial real estate 5,261 5,434 125 5,261 — Construction and land — — — — — Residential 15,051 15,315 51 14,948 92 Home equity (2) 611 611 17 618 8 Consumer and other — — — — — Total $ 25,339 $ 25,869 $ 734 $ 25,210 $ 100 _____________________ (1) Recorded investment represents the client loan balance net of historical charge-offs and historical nonaccrual interest paid, if applicable, which was applied to principal. (2) Negative quarterly income is due to reversal of income recognized in prior quarter. As of and for the three months ended March 31, 2020 Recorded Investment (1) Unpaid Principal Balance Related Allowance YTD Average Recorded Investment YTD Interest Income Recognized while Impaired (In thousands) With no related allowance recorded: Commercial and industrial $ 555 $ 632 n/a $ 667 $ 6 Commercial tax-exempt — — n/a — — Commercial real estate 6,119 6,151 n/a 2,403 9 Construction and land — — n/a — — Residential 16,352 16,612 n/a 15,587 117 Home equity 1,548 2,109 n/a 1,550 3 Consumer and other — — n/a — — Subtotal $ 24,574 $ 25,504 n/a $ 20,207 $ 135 With an allowance recorded: Commercial and industrial $ 273 $ 280 $ 175 $ 281 $ — Commercial tax-exempt — — — — — Commercial real estate — — — — — Construction and land — — — — — Residential 532 532 64 535 4 Home equity 270 270 20 271 2 Consumer and other — — — — — Subtotal $ 1,075 $ 1,082 $ 259 $ 1,087 $ 6 Total: Commercial and industrial $ 828 $ 912 $ 175 $ 948 $ 6 Commercial tax-exempt — — — — — Commercial real estate 6,119 6,151 — 2,403 9 Construction and land — — — — — Residential 16,884 17,144 64 16,122 121 Home equity 1,818 2,379 20 1,821 5 Consumer and other — — — — — Total $ 25,649 $ 26,586 $ 259 $ 21,294 $ 141 _____________________ (1) Recorded investment represents the client loan balance net of historical charge-offs and historical nonaccrual interest paid, if applicable, which was applied to principal. As of and for the year ended December 31, 2020 Recorded Investment (1) Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized while Impaired (In thousands) With no related allowance recorded: Commercial and industrial $ 2,262 $ 2,307 n/a $ 2,512 $ 141 Paycheck Protection Program — — n/a — — Commercial tax-exempt — — n/a 302 20 Commercial real estate 5,212 5,384 n/a 4,818 33 Construction and land — — n/a — — Residential 14,523 14,783 n/a 15,509 534 Home equity 367 367 n/a 922 16 Consumer and other — — n/a — — Subtotal $ 22,364 $ 22,841 n/a $ 24,063 $ 744 With an allowance recorded: Commercial and industrial $ 2,053 $ 2,090 $ 279 $ 378 $ 1 Paycheck Protection Program — — — — — Commercial tax-exempt — — — — — Commercial real estate 50 50 50 23 — Construction and land — — — — — Residential 419 419 54 498 13 Home equity 256 256 17 264 7 Consumer and other — — — — — Subtotal $ 2,778 $ 2,815 $ 400 $ 1,163 $ 21 Total: Commercial and industrial $ 4,315 $ 4,397 $ 279 $ 2,890 $ 142 Paycheck Protection Program — — — — — Commercial tax-exempt — — — 302 20 Commercial real estate 5,262 5,434 50 4,841 33 Construction and land — — — — — Residential 14,942 15,202 54 16,007 547 Home equity 623 623 17 1,186 23 Consumer and other — — — — — Total $ 25,142 $ 25,656 $ 400 $ 25,226 $ 765 _____________________ (1) Recorded investment represents the client loan balance net of historical charge-offs and historical nonaccrual interest paid, if applicable, which was applied to principal. When management determines that it is probable that the Bank will not collect all principal and interest on a loan in accordance with the original loan terms, the loan is designated as impaired. On March 22, 2020, regulators issued an interagency statement encouraging financial institutions to work with borrowers affected by the COVID-19 pandemic. The interagency statement also provided additional information regarding loan modifications. The regulators indicated they will not criticize institutions for working with borrowers in a safe and sound manner and have indicated that related modifications will not automatically result in a TDR. The regulators also provided supervisory views that loans modified under this program would not be considered past due or nonaccrual. The regulators view prudent loan modification programs offered to financial institution customers affected by the COVID-19 pandemic as positive and proactive actions that can manage adverse impacts on borrowers, and lead to improved loan performance and reduced credit risk. The statement indicated that short-term modifications made on a good faith basis in response to the COVID-19 pandemic to borrowers who were current prior to any relief are not TDRs. Loans that are designated as impaired require an analysis to determine the amount of impairment, if any. Impairment would be indicated as a result of the carrying value of the loan exceeding either the estimated collateral value, less costs to sell, for collateral dependent loans or the net present value of the projected cash flow, discounted at the loan’s contractual effective interest rate, for loans not considered to be collateral dependent. Generally, shortfalls in the analysis on collateral dependent loans would result in the impairment amount being charged-off to the Allowance for loan losses. Shortfalls on cash flow dependent loans may be carried as specific allocations to the general reserve unless a known loss is determined to have occurred, in which case, such known loss is charged-off. Loans in the held for sale category are carried at the lower of amortized cost or estimated fair value in the aggregate and are excluded from the Allowance for loan losses analysis. As of March 31, 2021, the Bank has pledged $2.2 billion of loans in a blanket lien agreement with the FHLB. The Bank also has $320.7 million of loans pledged as collateral at the FRB for access to their discount window. As of December 31, 2020, the Bank had pledged $2.2 billion of loans to the FHLB and $332.8 million of loans to the FRB. The Bank may, under certain circumstances, restructure loans as a concession to borrowers who are experiencing financial difficulty. These loans are outside of the guidelines to not be considered a TDR by recent regulatory guidance. Such loans are classified as TDRs and are included in impaired loans. TDRs typically result from the Bank’s loss mitigation activities which, among other things, could include rate reductions, payment extensions, and/or principal forgiveness. As of March 31, 2021 and December 31, 2020, TDRs totaled $14.0 million and $13.9 million, respectively. As of March 31, 2021, $7.1 million of the $14.0 million in TDRs were on accrual status. As of December 31, 2020, $7.2 million of the $13.9 million in TDRs were on accrual status. Since all TDR loans are considered impaired loans, they are individually evaluated for impairment. The resulting impairment, if any, would have an impact on the Allowance for loan losses as a specific reserve or charge-off. If, prior to the classification as a TDR, the loan was not impaired, there would have been a general reserve on the particular loan. Prior to the adoption of ASU 2016-13 on January 1, 2020, a general or allocated reserve would have been applied. Many loans initially categorized as TDRs are already on nonaccrual status and are already considered impaired. Therefore, there is generally not a material change to the Allowance for loan losses when a nonaccruing loan is categorized as a TDR. The following tables present the balance of TDRs that were restructured or defaulted during the periods indicated: As of and for the three months ended March 31, 2021 Restructured Year to Date TDRs that defaulted in the Year to Date that were restructured # of Pre- Post- # of Post- (In thousands, except number of loans) Residential and home equity (1) 1 $ 220 $ 220 — $ — Total 1 $ 220 $ 220 — $ — _____________________ (1) Represents the following type of concession: extension of maturity As of and for the three months ended March 31, 2020 Restructured Year to Date TDRs that defaulted in the Year to Date that were restructured # of Pre- Post- # of Post- (In thousands, except number of loans) Commercial and industrial (1) 1 $ 50 $ 50 — $ — Residential and home equity (2) 1 2,373 2,373 — — Total 2 $ 2,423 $ 2,423 — $ — _____________________ (1) Represents the following type of concession: extension of maturity and reduction in interest rate. (2) Represents the following type of concession: payment deferral. In response to the COVID-19 pandemic, the Bank initiated a mortgage deferment program under which principal and interest payments on qualifying loans are generally deferred for initially three months and the loan term is extended three months; if requested, the loan may be deferred for a subsequent three months. Loans that are deferred under the program are not considered TDRs or past due based on current regulatory guidance. In total, approximately 365 Residential and home equity loans totaling approximately $220.0 million have been processed under the program. As of March 31, 2021, approximately 47 loans totaling approximately $20.0 million remain in deferral under the program. Additionally, in response to the COVID-19 pandemic, the Bank initiated a program where it offered qualified Commercial and industrial borrowers principal payment deferrals for six months, with the deferred principal added to the last payment. In total, approximately 85 Commercial and industrial loans totaling approximately $125.0 million have been processed under the program. As of March 31, 2021, approximately four loans totaling approximately $5.7 million remain in deferral under the program. Loan participations serviced for others and loans serviced for others are not included in the Company’s total loans. The following table presents a summary of the loan participations serviced for others and loans serviced for others based on class of receivable as of the dates indicated: March 31, 2021 December 31, 2020 (In thousands) Commercial and industrial $ 110,284 $ 110,589 Commercial tax-exempt 22,845 17,604 Commercial real estate 136,019 130,551 Construction and land 102,422 93,874 Total loan participations serviced for others $ 371,570 $ 352,618 Residential $ 146,080 $ 168,110 Total loans serviced for others $ 146,080 $ 168,110 Total loans include deferred loan origination (fees)/costs, net, of $(2.1) million and $0.3 million as of March 31, 2021 and December 31, 2020, respectively

Allowance for Loan Losses

Allowance for Loan Losses3 Months Ended
Mar. 31, 2021
Receivables [Abstract]
Allowance for Loan LossesAllowance for Loan Losses The Allowance for loan losses is established based upon the Company's current estimate of expected lifetime credit losses on loans measured at amortized cost. Under the CECL methodology, which the Company adopted on January 1, 2020, the Company estimates credit losses on a collective basis per segment for loans sharing similar risk characteristics using a quantitative model combined with an assessment of certain qualitative factors designed to address risks not incorporated in the quantitative model output. The quantitative model utilizes economic factors and our selected peer group’s historical default and loss experience to estimate expected credit losses. The expected credit losses are the product of multiplying the Company’s estimates of probability of default, net loss given default, and individual loan level exposure at default on an undiscounted basis. The model estimates expected credit losses using loan level data over the contractual life of the exposure, considering the effect of estimated prepayment and curtailment rates which are derived from the Company's recent historical experience on the remaining portfolio segment balance over the life of the portfolio. Reasonable and supportable economic forecasts are incorporated into the estimate over a reasonable and supportable forecast period, beyond which is a reversion to the historical long-run average of the macroeconomic variables. Management has determined a reasonable and supportable period of two years and a straight line reversion period of twelve months to be appropriate for purposes of estimating expected credit losses. Management also applies a weight to the various forecasts chosen to determine the reasonable and supportable economic forecasts. The Company's qualitative assessment includes the following factors: • Volume and trend of past-due, nonaccrual, and adversely-graded loans • Trends in volume and terms of loans • Concentration risk • Experience and depth of management • Risk surrounding lending policy and underwriting standards • Risk surrounding loan review • Banking industry conditions, other external factors, and inherent model risk Loans that no longer share similar risk characteristics with any pools of assets are subject to individual assessment and are removed from the collectively assessed pools to avoid double counting. For the loans that will be individually assessed, the Company will use either a discounted cash flow approach or a fair value of collateral approach. The latter approach will be used for loans deemed to be collateral dependent or when foreclosure is probable. Loan losses are charged against the Allowance for loan losses when management's assessments confirm that the Company will not collect the full amortized cost basis of a loan. Subsequent recoveries, if any, are credited to the Allowance for loan losses when collected. Accrued interest receivable amounts are excluded from balances of loans held at amortized cost and are included within Accrued interest receivable on the Consolidated Balance Sheets. Management has elected not to measure an allowance for credit losses on these amounts as the Company employs a timely write-off policy as generally any loan over 89 days past-due is put on non-accrual status and any associated accrued interest is reversed. The Allowance for loan losses, reported as a reduction of outstanding loan balances, totaled $74.0 million and $81.2 million as of March 31, 2021 and December 31, 2020, respectively. Beginning in the second quarter of 2020, the Company made a change to the loan portfolio segmentation as it relates to the Allowance for loan losses, adding the segment Paycheck Protection Program ("PPP"). For the period ended March 31, 2020, there were no loans in this segment as the SBA initiated the program in the second quarter of 2020 in response to the COVID-19 pandemic. The following table presents a summary of the changes in the Allowance for loan losses for the periods indicated: As of and for the three months ended March 31, 2021 2020 (In thousands) Allowance for loan losses, beginning of period: Commercial and industrial $ 8,985 $ 10,048 Paycheck Protection Program 159 n/a Commercial tax-exempt 2,550 6,016 Commercial real estate 51,161 40,765 Construction and land 4,041 5,119 Residential 12,864 8,857 Home equity 293 778 Consumer and other 1,185 399 Total Allowance for loan losses, beginning of period $ 81,238 $ 71,982 Impact of adopting ASU 2016-13: Commercial and industrial n/a (565) Paycheck Protection Program n/a n/a Commercial tax-exempt n/a (4,409) Commercial real estate n/a (14,455) Construction and land n/a (2,158) Residential n/a 685 Home equity n/a (535) Consumer and other n/a 1,052 Total impact of adopting ASU 2016-13 n/a $ (20,385) Allowance for loan losses, beginning of period, net $ 81,238 $ 51,597 Provision/(credit) for loan losses: Commercial and industrial $ 2,017 $ 1,245 Paycheck Protection Program 20 n/a Commercial tax-exempt 35 320 Commercial real estate (5,404) 10,270 Construction and land (788) 2,748 Residential (2,689) 2,237 Home equity (64) (72) Consumer and other (131) 214 Total provision/(credit) for loan losses $ (7,004) $ 16,962 As of and for the three months ended March 31, 2021 2020 (In thousands) Loans charged -off: Commercial and industrial $ (297) $ (518) Paycheck Protection Program — n/a Commercial tax-exempt — — Commercial real estate — — Construction and land — — Residential — — Home equity — — Consumer and other — (10) Total charge-offs $ (297) $ (528) Recoveries on loans previously charged-off: Commercial and industrial $ 39 $ 45 Paycheck Protection Program — n/a Commercial tax-exempt — — Commercial real estate — — Construction and land — — Residential 3 — Home equity — 132 Consumer and other 31 3 Total recoveries $ 73 $ 180 Allowance for loan losses, end of period: Commercial and industrial $ 10,744 $ 10,255 Paycheck Protection Program 179 n/a Commercial tax-exempt 2,585 1,927 Commercial real estate 45,757 36,580 Construction and land 3,253 5,709 Residential 10,178 11,779 Home equity 229 303 Consumer and other 1,085 1,658 Total Allowance for loan losses, end of period $ 74,010 $ 68,211 The balance of the Allowance for loan losses of $74.0 million as of March 31, 2021 represents a decrease of $7.2 million from December 31, 2020. During the three months ended March 31, 2021, the Company recognized a Provision credit of $7.0 million. The decrease in the Allowance for loan losses for the three months ended March 31, 2021 was primarily driven by the latest current reasonable and supportable economic forecasts, which indicated improving economic conditions from the prior quarter, as well as a change in the weighting of the forecast scenarios used to account for risks and assumptions not incorporated in the forecasts. These improvements were partially offset by the net impact of the change in the composition and volume of the loan portfolio. The balance of reserve for unfunded loan commitments of $4.5 million as of March 31, 2021 represents a decrease of $2.0 million from December 31, 2020. The change was primarily driven by the latest current reasonable and supportable economic forecasts, which indicated improving economic conditions from the prior quarter, as well as a change in the weighting of the forecast scenarios used to account for risks and assumptions not incorporated in the forecasts. Changes in the balance of reserve for unfunded loan commitments are recognized as Other expense within Total operating expense. The Allowance for loan losses is an estimate of the inherent risk of loss in the loan portfolio as of the consolidated balance sheet dates. Management estimates the level of the Allowance for loan losses based on all relevant information available. Changes to the required level in the Allowance for loan losses result in either a Provision for loan loss expense, if an increase is required, or a credit to the provision, if a decrease is required. Loan losses are charged to the Allowance for loan losses when available information confirms that specific loans, or portions thereof, are uncollectible. Recoveries on loans previously charged-off are credited to the Allowance for loan losses when received in cash or when the Bank takes possession of other assets. The following tables present the Company’s Allowance for loan losses and loan portfolio as of March 31, 2021 and December 31, 2020 by portfolio segment, disaggregated by method of impairment analysis. The Company had no loans acquired with deteriorated credit quality as of March 31, 2021 or December 31, 2020. March 31, 2021 Individually Evaluated Collectively Evaluated Total Recorded investment Allowance for loan losses Recorded investment Allowance for loan losses Recorded investment Allowance for loan losses (In thousands) Commercial and industrial $ 4,416 $ 541 $ 663,801 $ 10,203 $ 668,217 $ 10,744 Paycheck Protection Program — — 351,170 179 351,170 179 Commercial tax-exempt — — 488,507 2,585 488,507 2,585 Commercial real estate 5,261 125 2,692,416 45,632 2,697,677 45,757 Construction and land — — 181,482 3,253 181,482 3,253 Residential 15,051 51 2,617,503 10,127 2,632,554 10,178 Home equity 611 17 71,141 212 71,752 229 Consumer and other — — 124,966 1,085 124,966 1,085 Total $ 25,339 $ 734 $ 7,190,986 $ 73,276 $ 7,216,325 $ 74,010 December 31, 2020 Individually Evaluated Collectively Evaluated Total Recorded investment Allowance for loan losses Recorded investment Allowance for loan losses Recorded investment Allowance for loan losses (In thousands) Commercial and industrial $ 4,315 $ 279 $ 554,028 $ 8,706 $ 558,343 $ 8,985 Paycheck Protection Program — — 312,356 159 312,356 159 Commercial tax-exempt — — 442,159 2,550 442,159 2,550 Commercial real estate 5,262 50 2,752,113 51,111 2,757,375 51,161 Construction and land — — 159,204 4,041 159,204 4,041 Residential 14,942 54 2,662,522 12,810 2,677,464 12,864 Home equity 623 17 76,741 276 77,364 293 Consumer and other — — 120,044 1,185 120,044 1,185 Total $ 25,142 $ 400 $ 7,079,167 $ 80,838 $ 7,104,309 $ 81,238

Derivatives and Hedging Activit

Derivatives and Hedging Activities3 Months Ended
Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging ActivitiesDerivatives and Hedging Activities The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk, primarily by managing the amount, sources, and duration of its assets and liabilities and, to a lesser extent, the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are generally determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to certain loans, deposits, and borrowings. As a service to its customers, the Company may utilize derivative instruments including customer foreign exchange forward contracts to manage its foreign exchange risk, if any. The following table presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Balance Sheets as of March 31, 2021 and December 31, 2020: March 31, 2021 December 31, 2020 Asset derivatives Liability derivatives Asset derivatives Liability derivatives Balance Fair Balance Fair Balance Fair Balance Fair (In thousands) Derivatives designated as hedging instruments: Interest rate swaps Other assets $ — Other liabilities $ 157 Other assets $ — Other liabilities $ 228 Derivatives not designated as hedging instruments: Interest rate customer swaps Other assets 53,682 Other liabilities 54,529 Other assets 83,255 Other liabilities 84,590 Risk participation agreements Other assets 28 Other liabilities 211 Other assets 49 Other liabilities 375 Total $ 53,710 $ 54,897 $ 83,304 $ 85,193 _____________________ (1) For additional details, see Part I. Item 1. “Notes to Unaudited Consolidated Financial Statements - Note 5: Fair Value Measurements.” The following table presents the effect of the Company’s derivative financial instruments on Accumulated other comprehensive income for the three months ended March 31, 2021 and 2020: Derivatives in cash Amount of gain or (loss) recognized in OCI on derivatives Location of gain Amount of gain or (loss) reclassified from accumulated OCI into income Three months ended March 31, Three months ended March 31, 2021 2020 2021 2020 (In thousands) (In thousands) Interest rate swaps $ 8 $ — Interest income/(expense) $ (63) $ — Total $ 8 $ — $ (63) $ — The following table presents the effect of the Company’s derivative financial instruments in the Consolidated Statements of Operations for the three months ended March 31, 2021 and 2020: Location of gain or (loss) reclassified from accumulated Amount of gain or Three months ended March 31, 2021 2020 (In thousands) Total amounts of income and (expense) line items presented in the Consolidated Statements of Operations in which the effects of fair value or cash flow hedges are recorded Interest income/(expense) $ (63) $ — The effects of cash flow hedging: Gain or (loss) on cash flow hedging relationships in ASC 815 Interest contracts - amount of gain or (loss) reclassified from Accumulated other comprehensive income into income Interest income/(expense) $ (63) $ — The Bank has agreements with its derivative counterparties that contain provisions where, if the Bank defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Bank could also be declared in default on its derivative obligations. The Bank was in compliance with these provisions as of March 31, 2021 and December 31, 2020. The Bank also has agreements with certain of its derivative counterparties that contain provisions where, if the Bank fails to maintain its status as a well- or adequately-capitalized institution, then the counterparty could terminate the derivative positions and the Bank would be required to settle its obligations under the agreements. The Bank was in compliance with these provisions as of March 31, 2021 and December 31, 2020. Certain of the Bank’s agreements with its derivative counterparties contain provisions where, if specified, events or conditions occur that materially change the Bank’s creditworthiness in an adverse manner, the Bank may be required to fully collateralize its obligations under the derivative instruments. The Bank was in compliance with these provisions as of March 31, 2021 and December 31, 2020. As of March 31, 2021 and December 31, 2020, the termination amounts related to collateral determinations of derivatives in a liability position were $51.7 million and $85.6 million, respectively. The Bank has minimum collateral posting thresholds with its derivative counterparties. As of March 31, 2021 and December 31, 2020, the Bank had pledged securities with a market value of $54.3 million and $86.7 million, respectively, against its obligations under these agreements. The collateral posted is typically greater than the current liability position; however, due to timing of liability position changes at period end, the funding of a collateral shortfall may take place shortly following period end. Cash flow hedges of interest rate risk The Company’s objectives in using interest rate derivatives are to add stability to interest income and expense and to manage its exposure to interest rate movements. To accomplish this objective and strategy, the Bank has entered into one interest rate swap during 2020 with an effective date of April 14, 2020. The interest rate swap is designated as a cash flow hedge and involves the receipt of variable rate amounts from a counterparty in exchange for the Bank making fixed payments. The one interest rate swap entered into during 2020 has a notional amount of $100 million and a term of eighteen months from its effective date. The interest rate swap will effectively fix the Bank's interest payments on $100 million of rolling three-month FHLB advances at a rate of 0.48%. Per ASU 2017-12, for derivatives designated and that qualify as cash flow hedges of interest rate risk, the gain or loss on the derivative is recorded in Accumulated other comprehensive income and subsequently reclassified into interest expense in the same period during which the hedged transaction affects earnings. For active cash flow hedges, a portion of the balance reported in Accumulated other comprehensive income related to derivatives will be reclassified to interest expense as interest payments are made or received on the Bank’s interest rate swaps. Non-designated hedges Derivatives not designated as hedges are not speculative and result from different services the Bank provides to qualified commercial clients. The Bank offers certain derivative products directly to such clients. The Bank economically hedges derivative transactions executed with commercial clients by entering into mirror-image, offsetting derivatives with third parties. Derivative transactions executed as part of these programs are not designated in ASC 815-qualifying hedging relationships and are, therefore, marked-to-market through earnings each period. Because the derivatives have mirror-image contractual terms, the changes in fair value substantially offset through earnings. The net effect on earnings is primarily driven by changes in the credit valuation adjustment (“CVA”). The CVA represents the dollar amount of fair value adjustment related to nonperformance risk of both the Bank and its counterparties. Fees earned in connection with the execution of derivatives related to this program are recognized in the Consolidated Statements of Operations in Other income. The Bank has interest rate swaps and caps related to this program with an aggregate notional amount of $1.7 billion as of March 31, 2021 and December 31, 2020. As of March 31, 2021 and December 31, 2020, there were no foreign currency exchange contracts related to this program. In addition, as a participant lender, the Bank has guaranteed performance on the pro-rated portion of swaps executed by other financial institutions. As the participant lender, the Bank is providing a partial guarantee, but is not a direct party to the related swap transactions. The Bank has no obligations under the risk participation agreements unless the borrower defaults on their swap transaction with the lead bank and the swap is in a liability position to the borrower. In that instance, the Bank has agreed to pay the lead bank a portion of the swap’s termination value at the time of the default. The derivative transactions entered into as part of these agreements are not designated, as per ASC 815, as qualifying hedging relationships and are, therefore, marked-to-market through earnings each period. As of March 31, 2021 and December 31, 2020, there were seven of these risk participation transactions with an aggregate notional amount of $57.0 million and $57.4 million, respectively. The Bank has also participated out to other financial institutions a pro-rated portion of swaps executed by the Bank. The other financial institution has no obligations under the risk participation agreements unless the borrowers default on their swap transactions with the Bank and the swaps are in liability positions to the borrower. In those instances, the other financial institution has agreed to pay the Bank a portion of the swap’s termination value at the time of the default. The derivative transactions entered into as part of these agreements are not designated, as per ASC 815, as qualifying hedging relationships and are, therefore, marked-to-market through earnings each period. As of March 31, 2021 and December 31, 2020, there were five of these risk participation transactions with an aggregate notional amount of $30.2 million. The following table presents the effect of the Bank’s derivative financial instruments not designated as hedging instruments in the Consolidated Statements of Operations for the three months ended March 31, 2021 and 2020. Amount of gain or (loss), net, Derivatives not designated as Location of gain or (loss) recognized in income on derivatives Three months ended March 31, 2021 2020 (In thousands) Interest rate swaps Other income/(expense) $ 488 $ (555) Risk participation agreements Other income/(expense) 144 (202) Total $ 632 $ (757)

Income Taxes

Income Taxes3 Months Ended
Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income TaxesIncome Taxes The following table presents the components of Income tax expense and effective tax rates for the periods indicated: Three months ended March 31, 2021 2020 (In thousands) Income before income taxes $ 16,728 $ 908 Income tax expense 6,076 102 Net income before attribution to noncontrolling interests $ 10,652 $ 806 Effective tax rate 36.3 % 11.2 % The effective tax rate for the three months ended March 31, 2021 of 36.3%, with related tax expense of $6.1 million, was calculated based on a forecasted 2021 annual effective tax rate. The effective tax rate is more than the statutory rate of 21% due primarily to Merger costs related to the proposed merger with SVB, state and local income taxes, and the accounting for investments in affordable housing projects. These items were partially offset by earnings from tax-exempt investments and income tax credits. During the first quarter of 2021, the Company recorded a tax expense of approximately $3.0 million due to certain Merger costs related to the proposed merger with SVB that are expected to be non-deductible. The effective tax for the three months ended March 31, 2020 of 11.2%, with related tax expense of $0.1 million, was calculated based on a forecasted 2020 annual effective tax rate. The effective tax rate was less than the statutory rate of 21% due primarily to earnings from tax-exempt investments and income tax credits, partially offset by state and local income taxes and the accounting for investments in affordable housing projects. The effective tax rate for the three months ended March 31, 2021 is more than the effective tax rate for the same period in 2020 due primarily to the higher level of income in 2021 as compared to 2020 and as a result of approximately $3.0 million tax expense recorded discretely in the first quarter of 2021 due to the expected non-deductible Merger costs.

Noncontrolling Interests

Noncontrolling Interests3 Months Ended
Mar. 31, 2021
Noncontrolling Interest [Abstract]
Noncontrolling InterestsNoncontrolling Interests Noncontrolling interests consist of equity owned by management of the Company’s majority-owned affiliate, DGHM. Net income attributable to noncontrolling interests in the Consolidated Statements of Operations, if any, represents the net income allocated to the noncontrolling interest owners of DGHM. Net income allocated to the noncontrolling interest owners was zero and $6 thousand for the three months ended March 31, 2021 and 2020, respectively. On the Consolidated Balance Sheets, noncontrolling interests are included as the sum of the capital and undistributed profits allocated to the noncontrolling interest owners. Typically, this balance is included in a company’s permanent shareholders’ equity in the Consolidated Balance Sheets. When the noncontrolling interest owners’ rights include certain redemption features, as described in ASC 480, Distinguishing Liabilities from Equity , such redeemable noncontrolling interests are classified as mezzanine equity and are not included in permanent shareholders’ equity. Due to the redemption features of the noncontrolling interests of DGHM, the Company had Redeemable noncontrolling interests held in mezzanine equity in the accompanying Consolidated Balance Sheets of zero as of March 31, 2021 and December 31, 2020. The aggregate amount of such Redeemable noncontrolling equity interests are recorded at the estimated maximum redemption values. The Company had no noncontrolling interests included in permanent shareholder’s equity at March 31, 2021 and December 31, 2020. The DGHM operating agreement provides the Company and/or the noncontrolling interest holders with contingent call and put options and mandatory repurchase obligations used for the orderly transfer of noncontrolling equity interests between the noncontrolling interest holders and the Company at contractually predetermined values. This agreement is discussed in Part II. Item 8. “Financial Statements and Supplementary Data - Note 14: Noncontrolling Interests” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. The interests in DGHM take the form of limited liability company units. There are various events that could trigger a put, call or mandatory repurchase, such as a change in control, death, disability, retirement, resignation or termination. The terms of these rights and obligations are governed by the operating agreement of DGHM. The following table presents a roll-forward of the Company’s Redeemable noncontrolling interests for the periods indicated: Three months ended March 31, 2021 2020 (In thousands) Redeemable noncontrolling interests at beginning of period $ — $ 1,383 Net income attributable to noncontrolling interests — 6 Distributions — (6) Purchases/(sales) of ownership interests — (64) Amortization of equity compensation 7 8 Adjustments to fair value (7) (1,327) Redeemable noncontrolling interests at end of period $ — $ —

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income3 Months Ended
Mar. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive IncomeAccumulated Other Comprehensive Income The following table presents a summary of the amounts reclassified from the Company's Accumulated other comprehensive income/(loss) for the three months ended March 31, 2021 and 2020: Description of component of Accumulated other comprehensive income/(loss) Three months ended March 31, Affected line item in 2021 2020 (In thousands) Net realized gain/(loss) on cash flow hedges: Hedges related to deposits: Pre-tax gain/(loss) $ (63) $ — Interest income/(expense) Tax (expense)/benefit 19 — Income tax (expense)/benefit Total reclassifications for the period, net of tax $ (44) $ — Net income/(loss) attributable to the Company The following table presents the after-tax changes in the components of the Company’s Accumulated other comprehensive income/(loss) for the three months ended March 31, 2021 and 2020: Components of Accumulated other comprehensive income/(loss) Unrealized gain/(loss) on Investment securities available-for-sale Unrealized Unrealized Accumulated other comprehensive (In thousands) Balance at December 31, 2019 $ 8,435 $ — $ (860) $ 7,575 Other comprehensive income/(loss) before reclassifications 14,489 — — 14,489 Other comprehensive income/(loss), net 14,489 — — 14,489 Balance at March 31, 2020 $ 22,924 $ — $ (860) $ 22,064 Balance at December 31, 2020 $ 32,672 $ (162) $ (825) $ 31,685 Other comprehensive income/(loss) before reclassifications (17,993) 6 — (17,987) Reclassified from other comprehensive income/(loss) — 44 — 44 Other comprehensive income/(loss), net (17,993) 50 — (17,943) Balance at March 31, 2021 $ 14,679 $ (112) $ (825) $ 13,742

Restructuring

Restructuring3 Months Ended
Mar. 31, 2021
Restructuring and Related Activities [Abstract]
RestructuringRestructuring There were no restructuring charges for the three months ended March 31, 2021 and 2020. The following table presents a summary of the restructuring activity for the three months ended March 31, 2021 and 2020: Severance Charges Other Associated Costs Total (In thousands) Accrued charges at December 31, 2020 $ — $ 789 $ 789 Costs paid — — — Accrued charges at March 31, 2021 $ — $ 789 $ 789 Accrued charges at December 31, 2019 $ 526 $ 789 $ 1,315 Costs paid (434) — (434) Accrued charges at March 31, 2020 $ 92 $ 789 $ 881

Revenue Recognition

Revenue Recognition3 Months Ended
Mar. 31, 2021
Revenue Recognition [Abstract]
Revenue RecognitionRevenue Recognition In accordance with ASC 606, Revenue from Contracts with Customers (“ASC 606”), the Company recognizes revenue when it transfers promised goods or services to customers in an amount that reflects the consideration which the Company expects to receive in exchange for those goods or services. ASC 606 does not apply to revenue associated with financial instruments such as loans and securities. Substantially all of the Company’s revenue is generated from contracts with customers. Noninterest income considered in-scope of ASC 606 is discussed below. Wealth management and trust fees Wealth management and trust fees are earned for providing wealth management, retirement plan advisory, family office, financial planning, trust services, and other financial advisory services to clients. The Company’s performance obligation under these contracts is satisfied over time as the services are provided. Fees are recognized monthly based on the average monthly, beginning-of-quarter, or, for a small number of clients, end-of-quarter market value of the AUM and the applicable fee rate, depending on the terms of the contracts. Fees are also recognized monthly based either on a fixed fee amount or are based on the quarter-end (in arrears) market value of the AUM and the applicable fee rate, depending on the terms of the contracts. No performance-based incentives are earned under wealth management contracts. Receivables are recorded on the Consolidated Balance Sheets in the Fees receivable line item. Deferred revenues of $6.3 million and $6.1 million as of March 31, 2021 and December 31, 2020, respectively, are recorded on the Consolidated Balance Sheets within Other liabilities. Trust fees are earned when the Company is appointed as trustee for clients. As trustee, the Company administers the client’s trust and manages the assets of the trust, including investments and property. The Company’s performance obligation under these agreements is satisfied over time as the administration and management services are provided. Fees are recognized monthly or, in certain circumstances, quarterly based on a percentage of the market value of the account as outlined in the agreement. Payment frequency is defined in the individual contracts, which primarily stipulate monthly in arrears. No performance-based incentives are earned on trust fee contracts. Receivables are recorded on the Consolidated Balance Sheets within Fees receivable. Investment management fees Investment management fees are earned for the management of a series of accounts and funds in which clients invest directly, acting as a sub-advisor to larger investment management companies, or private client account management. The Company’s performance obligation is satisfied over time, and the resulting fees are recognized monthly, based upon either the beginning-of-quarter (in advance) or quarter-end (in arrears) market value of the AUM and the applicable fee rate, depending on the terms of the contracts. Payment is generally received a few days after month end through a direct charge to customers’ accounts. The Company may earn performance-based incentives on certain contracts. Receivables are recorded on the Consolidated Balance Sheets within Fees receivable. Other banking fee income The Bank charges a variety of fees to its clients for services provided on the deposit and deposit management-related accounts. Each fee is either transaction-based or assessed monthly. The types of fees include service charges on accounts, overdraft fees, maintenance fees, ATM fee charges, and other miscellaneous charges related to the accounts. These fees are not governed by individual contracts with clients. They are charges to clients based on disclosures presented to clients upon opening these accounts along with updated disclosures when changes are made to the fee structures. The transaction-based fees are recognized in revenue when charged to the client based on specific activity on the client’s account. Monthly service/maintenance charges are recognized in the month they are earned and are charged directly to the client’s account. The Bank also charges fees for treasury activities, such as swap fees and foreign exchange fees, for clients with a banking relationship. These fees are recorded when earned via completion of the transaction for the client. The completion of the transaction is deemed to be the performance obligation of the transaction. The related revenue is recorded through a direct charge to the client’s account. There are no individual agreements or contracts with clients relating to foreign exchange fees as they are governed by client disclosure statements and the Bank’s internal policies and procedures. The following table presents the fee income considered in-scope of ASC 606 by contracts with customers: Three months ended March 31, 2021 2020 (In thousands) Fees and other income: Wealth management and trust fees $ 19,136 $ 18,371 Investment management fees 489 1,925 Other income 874 752 Revenue from contracts with customers 20,499 21,048 Other non-interest income not within the scope of ASC 606 5,671 473 Total non-interest income $ 26,170 $ 21,521

Lease Accounting

Lease Accounting3 Months Ended
Mar. 31, 2021
Leases [Abstract]
Lease AccountingLease Accounting In accordance with ASC 842, Leases (“ASC 842”), the Company recognizes Lease liabilities and Right-of-use ("ROU") assets on the Consolidated Balance Sheets for all leases with a term longer than 12 months. ROU assets obtained in exchange for lease liabilities are net of tenant improvement allowances and deferred rent. Leases are classified as operating, with respective classification impacting the pattern and method of expense recognition in the Consolidated Statements of Operations. The Company, as lessee, has 36 real estate leases for office and ATM locations classified as operating leases. The Company determines if an arrangement is a lease or contains a lease at inception. The terms of the real estate leases generally have annual increases in payments based off of a fixed or variable rate, such as the Consumer Price Index rate, that is outlined within the respective contracts. Generally, the initial terms of the leases for our leased properties range from five five The Company, as lessee, has 27 equipment leases classified as operating leases. The terms of the equipment leases are fixed payments outlined within the respective contracts and generally range from three The following table presents information about the Company's leases as of the dates indicated. Three months ended March 31, 2021 2020 (In thousands) Lease cost Operating lease cost $ 5,007 $ 4,601 Short-term lease cost 58 48 Variable lease cost 3 (9) Less: Sublease income (38) (28) Total operating lease cost $ 5,030 $ 4,612 Three months ended March 31, 2021 2020 (In thousands, except years and percentages) Other information Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 5,222 $ 5,100 ROU assets obtained in exchange for new operating lease liabilities (1) $ 1,541 $ 443 Weighted-average remaining lease term for operating leases 7.5 years 7.9 years Weighted-average discount rate for operating leases 3.0 % 3.2 % ______________________ (1) Operating lease liabilities were impacted by the modification and addition of real estate leases and the addition of equipment leases for the three months ended March 31, 2021. The Company is obligated for minimum payments under non-cancelable operating leases. In accordance with the terms of these leases, the Company is currently committed to minimum annual payments as follows as of March 31, 2021: March 31, 2021 (In thousands) Remainder of 2021 $ 15,814 2022 21,334 2023 19,846 2024 13,884 2025 12,541 Thereafter 39,918 Total future minimum lease payments 123,337 Less: Amounts representing interest (16,194) Present value of net future minimum lease payments $ 107,143

Recent Accounting Pronouncement

Recent Accounting Pronouncements3 Months Ended
Mar. 31, 2021
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recent Accounting PronouncementsRecent Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13 Financial Instruments (Topic 326) (“ASU 2016-13”). In 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments (“ASU 2019-04”); ASU 2019-05, Financial Instruments—Credit Losses (Topic 326): Targeted Transition Relief (“ASU 2019-05”); ASU 2019-10, Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 942)—Effective Dates (“ASU 2019-10”); and ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments—Credit Losses (“ASU 2019-11”). This update and related amendments to Topic 326 are intended to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. To achieve this objective, the amendments in this update replace the incurred loss impairment methodology with a CECL model methodology that reflects expected credit losses and requires consideration of a reasonable and supportable economic forecast to inform credit loss estimates. This ASU is effective for fiscal years beginning after December 15, 2019. The Company adopted this update on January 1, 2020 utilizing a modified retrospective approach. On adoption of ASU 2016-13, the Company recognized a decrease in the allowance for loan losses of $20.4 million and an increase in the reserve for unfunded loan commitments of $1.4 million. The net, after-tax impact of the decrease in the allowance for loan losses and the increase in the reserve for unfunded loan commitments was an increase to Retained earnings of $13.5 million as shown in the Consolidated Statements of Changes in Shareholders’ Equity. See Part I. Item 1. “Notes to Unaudited Consolidated Financial Statements - Note 4: Investments”, “Note 6 - Loan Portfolio and Credit Quality”, and “Note 7 - Allowance for Loan Losses” for further details.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)3 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]
New Accounting PronouncementsThe Company’s significant accounting policies are described in Part II. Item 8. “Financial Statements and Supplementary Data - Note 1: Basis of Presentation and Summary of Significant Accounting Policies” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC. For interim reporting purposes, the Company follows the same significant accounting policies. There were no new accounting pronouncements from the Financial Accounting Standards Board (the “FASB”) that were adopted effective January 1, 2021 with a material impact to the Company. In June 2016, the FASB issued ASU 2016-13 Financial Instruments (Topic 326) (“ASU 2016-13”). In 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments (“ASU 2019-04”); ASU 2019-05, Financial Instruments—Credit Losses (Topic 326): Targeted Transition Relief (“ASU 2019-05”); ASU 2019-10, Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 942)—Effective Dates (“ASU 2019-10”); and ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments—Credit Losses (“ASU 2019-11”). This update and related amendments to Topic 326 are intended to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. To achieve this objective, the amendments in this update replace the incurred loss impairment methodology with a CECL model methodology that reflects expected credit losses and requires consideration of a reasonable and supportable economic forecast to inform credit loss estimates. This ASU is effective for fiscal years beginning after December 15, 2019. The Company adopted this update on January 1, 2020 utilizing a modified retrospective approach. On adoption of ASU 2016-13, the Company recognized a decrease in the allowance for loan losses of $20.4 million and an increase in the reserve for unfunded loan commitments of $1.4 million. The net, after-tax impact of the decrease in the allowance for loan losses and the increase in the reserve for unfunded loan commitments was an increase to Retained earnings of $13.5 million as shown in the Consolidated Statements of Changes in Shareholders’ Equity. See Part I. Item 1. “Notes to Unaudited Consolidated Financial Statements - Note 4: Investments”, “Note 6 - Loan Portfolio and Credit Quality”, and “Note 7 - Allowance for Loan Losses” for further details.

Earnings Per Share (Tables)

Earnings Per Share (Tables)3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule of computation of basic and diluted EPSThe following tables present the computations of basic and diluted EPS: Three months ended March 31, 2021 2020 (In thousands, except share and per share data) Basic earnings per share - Numerator: Net income before attribution to noncontrolling interests $ 10,652 $ 806 Less: Net income attributable to noncontrolling interests — 6 Net income attributable to the Company 10,652 800 Decrease in noncontrolling interests’ redemption values (1) — 414 Net income attributable to common shareholders, treasury stock method $ 10,652 $ 1,214 Basic earnings per share - Denominator: Weighted average basic common shares outstanding 82,429,162 83,005,064 Per share data - Basic earnings per share: Total attributable to common shareholders $ 0.13 $ 0.01 Three months ended March 31, 2021 2020 (In thousands, except share and per share data) Diluted earnings per share - Numerator: Net income attributable to common shareholders, after assumed dilution $ 10,652 $ 1,214 Diluted earnings per share - Denominator: Weighted average basic common shares outstanding 82,429,162 83,005,064 Dilutive effect of: Time-based and market-based stock options, performance-based and time-based restricted stock units, and other dilutive securities (2) 1,504,945 312,977 Weighted average diluted common shares outstanding (2) 83,934,107 83,318,041 Per share data - Diluted earnings per share: Total attributable to common shareholders $ 0.13 $ 0.01 Dividends per share declared and paid on common stock $ 0.06 $ 0.12 _____________________ (1) See Part II. Item 8. “Financial Statements and Supplementary Data - Note 14: Noncontrolling Interests” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 for a description of the redemption values related to the redeemable noncontrolling interests. In accordance with the FASB Accounting Standards Codification Distinguishing Liabilities from Equity (“ASC 480”), an increase in redemption value from period to period reduces income attributable to common shareholders. A decrease in redemption value from period to period increases income attributable to common shareholders, but only to the extent that the cumulative change in redemption value remains a cumulative increase since adoption of this standard in the first quarter of 2009. (2) The diluted EPS computations for the three months ended March 31, 2021 and 2020 do not assume the conversion, exercise, or contingent issuance of the following shares for the following periods because the result would have been anti-dilutive for the periods indicated. This includes shares excluded from the computation of diluted EPS because the effect would have been anti-dilutive and out-of-the money options, where the exercise prices were greater than the average market price of common shares for the period, because their inclusion would have been anti-dilutive. As a result of the anti-dilution, the potential common shares excluded from the diluted EPS computation are as follows: Three months ended March 31, 2021 2020 Anti-dilutive shares excluded from computation of average dilutive EPS (In thousands) Potential common shares from: options, restricted stock units, or other dilutive securities 333 1,254 Total anti-dilutive shares excluded from computation of average dilutive EPS 333 1,254
Schedule of antidilutive securities excluded from computation of earnings per shareAs a result of the anti-dilution, the potential common shares excluded from the diluted EPS computation are as follows: Three months ended March 31, 2021 2020 Anti-dilutive shares excluded from computation of average dilutive EPS (In thousands) Potential common shares from: options, restricted stock units, or other dilutive securities 333 1,254 Total anti-dilutive shares excluded from computation of average dilutive EPS 333 1,254

Reportable Segments (Tables)

Reportable Segments (Tables)3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]
Schedule of segment reporting informationThe following tables present a reconciliation of the revenues, expenses, assets, and other significant items of the reportable segments as of and for the three months ended March 31, 2021 and 2020. Three months ended March 31, 2021 2020 Private Banking (1) (In thousands) Net interest income $ 59,948 $ 58,090 Fees and other income 4,075 1,108 Total revenue 64,023 59,198 Provision/(credit) for loan losses (7,004) 16,962 Operating expense 44,460 42,588 Income/(loss) before income taxes 26,567 (352) Income tax expense/(benefit) 4,720 (931) Net income before attribution to noncontrolling interests 21,847 579 Net income attributable to the Company $ 21,847 $ 579 Assets $ 10,485,377 $ 8,692,069 Amortization of intangibles $ 189 $ 77 Depreciation $ 2,971 $ 2,626 Three months ended March 31, 2021 2020 Wealth Management and Trust (1) (In thousands) Net interest income $ 1 $ 72 Fees and other income 19,165 18,485 Total revenue 19,166 18,557 Operating expense 17,455 15,449 Income before income taxes 1,711 3,108 Income tax expense 499 1,074 Net income before attribution to noncontrolling interests 1,212 2,034 Net income attributable to the Company $ 1,212 $ 2,034 Assets $ 155,994 $ 143,998 Amortization of intangibles $ 478 $ 638 Depreciation $ 347 $ 294 Three months ended March 31, 2021 2020 Holding Company and Eliminations (1)(2) (In thousands) Net interest income (3) $ (472) $ (905) Fees and other income 2,930 1,928 Total revenue 2,458 1,023 Operating expense 14,008 2,871 Income/(loss) before income taxes (11,550) (1,848) Income tax expense/(benefit) 857 (41) Net income/(loss) before attribution to noncontrolling interests (12,407) $ (1,807) Noncontrolling interests — 6 Net income/(loss) attributable to the Company $ (12,407) $ (1,813) Assets (including eliminations) $ (102,879) $ (89,741) Depreciation $ 430 $ 39 Three months ended March 31, 2021 2020 Total Company (1) (In thousands) Net interest income $ 59,477 $ 57,257 Fees and other income 26,170 21,521 Total revenue 85,647 78,778 Provision/(credit) for loan losses (7,004) 16,962 Operating expense 75,923 60,908 Income before income taxes 16,728 908 Income tax expense 6,076 102 Net income before attribution to noncontrolling interests 10,652 806 Noncontrolling interests — 6 Net income attributable to the Company $ 10,652 $ 800 Assets $ 10,538,492 $ 8,746,326 Amortization of intangibles $ 667 $ 715 Depreciation $ 3,748 $ 2,959 _____________________ (1) Due to rounding, the sum of individual segment results may not add up to the Total Company results. (2) The Holding Company and Eliminations segment includes the results of DGHM. (3) Interest expense on Junior subordinated debentures is included in Holding Company and Eliminations.

Investments (Tables)

Investments (Tables)3 Months Ended
Mar. 31, 2021
Investments [Abstract]
Schedule of debt securities available-for-saleThe following table presents a summary of investment securities at March 31, 2021 and December 31, 2020: Amortized Unrealized Fair Gains Losses (In thousands) At March 31, 2021 Investment securities available-for-sale at fair value: U.S. government and agencies $ 19,964 $ 650 $ — $ 20,614 Government-sponsored entities 137,866 3,619 — 141,485 Municipal bonds 325,312 17,668 (585) 342,395 Mortgage-backed securities (1) 836,253 12,198 (13,537) 834,914 Total $ 1,319,395 $ 34,135 $ (14,122) $ 1,339,408 Investment securities held-to-maturity at amortized cost: Mortgage-backed securities (1) $ 31,943 $ 688 $ — $ 32,631 Total $ 31,943 $ 688 $ — $ 32,631 Equity securities at fair value: Money market mutual funds (2) $ 39,708 $ — $ — $ 39,708 Total $ 39,708 $ — $ — $ 39,708 At December 31, 2020 Investment securities available-for-sale at fair value: U.S. government and agencies $ 19,962 $ 1,022 $ — $ 20,984 Government-sponsored entities 142,985 4,801 — 147,786 Municipal bonds 324,422 22,177 (11) 346,588 Mortgage-backed securities (1) 711,144 17,805 (614) 728,335 Total $ 1,198,513 $ 45,805 $ (625) $ 1,243,693 Investment securities held-to-maturity at amortized cost: Mortgage-backed securities (1) $ 35,223 $ 719 $ — $ 35,942 Total $ 35,223 $ 719 $ — $ 35,942 Equity securities at fair value: Money market mutual funds (2) $ 41,452 $ — $ — $ 41,452 Total $ 41,452 $ — $ — $ 41,452 _____________________ (1) All Mortgage-backed securities are guaranteed by the U.S. government, U.S. government agencies, or government-sponsored entities. (2) Money market mutual funds maintain a constant net asset value of $1.00 and therefore have no unrealized gain or loss.
Schedule of debt securities held-to-maturityThe following table presents a summary of investment securities at March 31, 2021 and December 31, 2020: Amortized Unrealized Fair Gains Losses (In thousands) At March 31, 2021 Investment securities available-for-sale at fair value: U.S. government and agencies $ 19,964 $ 650 $ — $ 20,614 Government-sponsored entities 137,866 3,619 — 141,485 Municipal bonds 325,312 17,668 (585) 342,395 Mortgage-backed securities (1) 836,253 12,198 (13,537) 834,914 Total $ 1,319,395 $ 34,135 $ (14,122) $ 1,339,408 Investment securities held-to-maturity at amortized cost: Mortgage-backed securities (1) $ 31,943 $ 688 $ — $ 32,631 Total $ 31,943 $ 688 $ — $ 32,631 Equity securities at fair value: Money market mutual funds (2) $ 39,708 $ — $ — $ 39,708 Total $ 39,708 $ — $ — $ 39,708 At December 31, 2020 Investment securities available-for-sale at fair value: U.S. government and agencies $ 19,962 $ 1,022 $ — $ 20,984 Government-sponsored entities 142,985 4,801 — 147,786 Municipal bonds 324,422 22,177 (11) 346,588 Mortgage-backed securities (1) 711,144 17,805 (614) 728,335 Total $ 1,198,513 $ 45,805 $ (625) $ 1,243,693 Investment securities held-to-maturity at amortized cost: Mortgage-backed securities (1) $ 35,223 $ 719 $ — $ 35,942 Total $ 35,223 $ 719 $ — $ 35,942 Equity securities at fair value: Money market mutual funds (2) $ 41,452 $ — $ — $ 41,452 Total $ 41,452 $ — $ — $ 41,452 _____________________ (1) All Mortgage-backed securities are guaranteed by the U.S. government, U.S. government agencies, or government-sponsored entities. (2) Money market mutual funds maintain a constant net asset value of $1.00 and therefore have no unrealized gain or loss.
Investments classified by contractual maturity dateThe following table presents the maturities of Investment securities available-for-sale, based on contractual maturity, as of March 31, 2021. Certain securities are callable before their final maturity. Additionally, certain securities (such as Mortgage-backed securities) are shown within the table below based on their final (contractual) maturity, but due to prepayments and amortization are expected to have shorter lives. Investment Securities Available-for-sale Amortized Fair (In thousands) Within one year $ 78,206 $ 79,090 After one, but within five years 258,270 267,989 After five, but within ten years 227,730 237,588 Greater than ten years 755,189 754,741 Total $ 1,319,395 $ 1,339,408 The following table presents the maturities of Investment securities held-to-maturity, based on contractual maturity, as of March 31, 2021. Investment Securities Held-to-maturity Amortized Fair (In thousands) After five, but within ten years $ 26,376 $ 26,970 Greater than ten years 5,567 5,661 Total $ 31,943 $ 32,631 The following table presents the maturities of Equity securities, b ased on contractual maturity, as of March 31, 2021. Equity Securities Amortized Fair (In thousands) Within one year $ 39,708 $ 39,708 Total $ 39,708 $ 39,708
Schedule of unrealized loss on investmentsThe following tables present information regarding securities at March 31, 2021 and December 31, 2020 having temporary impairment, due to the fair values having declined below the amortized cost of the individual securities, and the time period that the investments have been temporarily impaired. As of March 31, 2021, there were no Investment securities held-to-maturity having temporary impairment. Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized # of (In thousands, except number of securities) March 31, 2021 Investment securities available-for-sale Municipal bonds $ 26,139 $ (585) $ — $ — $ 26,139 $ (585) 9 Mortgage-backed securities (1) 436,241 (13,456) 4,989 (81) 441,230 (13,537) 59 Total $ 462,380 $ (14,041) $ 4,989 $ (81) $ 467,369 $ (14,122) 68 Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized # of (In thousands, except number of securities) December 31, 2020 Investment securities available-for-sale Municipal bonds $ 2,344 $ (11) $ — $ — $ 2,344 $ (11) 2 Mortgage-backed securities (1) 126,545 (519) 5,411 (95) 131,956 (614) 41 Total $ 128,889 $ (530) $ 5,411 $ (95) $ 134,300 $ (625) 43 _____________________ (1) All Mortgage-backed securities are guaranteed by the U.S. government, U.S. government agencies, or government-sponsored entities.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)3 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of fair value, assets and liabilities measured on recurring basisThe following tables present the Company’s assets and liabilities measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020, aggregated by the level in the fair value hierarchy within which those measurements fall: As of March 31, 2021 Fair value measurements at reporting date using: Quoted prices in Significant Significant (In thousands) Assets: Investment securities available-for-sale: U.S. government and agencies $ 20,614 $ — $ 20,614 $ — Government-sponsored entities 141,485 — 141,485 — Municipal bonds 342,395 — 342,395 — Mortgage-backed securities 834,914 — 834,914 — Total 1,339,408 — 1,339,408 — Equity securities 39,708 39,708 — — Derivatives - interest rate customer swaps 53,682 — 53,682 — Derivatives - risk participation agreement 28 — 28 — Trading securities held in the “rabbi trust” (1) 7,633 7,633 — — Liabilities: Derivatives - interest rate customer swaps $ 54,529 $ — $ 54,529 $ — Derivatives - interest rate swaps 157 — 157 — Derivatives - risk participation agreement 211 — 211 — Deferred compensation “rabbi trust” (1) 7,633 7,633 — — Fair value measurements at reporting date using: As of December 31, 2020 Quoted prices in Significant Significant (In thousands) Assets: Investment securities available-for-sale: U.S. government and agencies $ 20,984 $ — $ 20,984 $ — Government-sponsored entities 147,786 — 147,786 — Municipal bonds 346,588 — 346,588 — Mortgage-backed securities 728,335 — 728,335 — Total 1,243,693 — 1,243,693 — Equity securities 41,452 41,452 — — Derivatives - interest rate customer swaps 83,255 — 83,255 — Derivatives - risk participation agreements 49 — 49 — Trading securities held in the “rabbi trust” (1) 7,204 7,204 — — Liabilities: Derivatives - interest rate customer swaps $ 84,590 $ — $ 84,590 $ — Derivatives - interest rate swaps 228 — 228 — Derivatives - risk participation agreements 375 — 375 — Deferred compensation “rabbi trust” (1) 7,204 7,204 — — _____________________ (1) The Company has adopted a special trust for the Deferred Compensation Plan called a “rabbi trust.” The rabbi trust is an arrangement that is used to accumulate assets that may be used to fund the Company’s obligation to pay benefits under the Deferred Compensation Plan. To prevent immediate taxation to the executives who participate in the Deferred Compensation Plan, the amounts placed in the rabbi trust must remain subject to the claims of the Company’s creditors. The investments chosen by the participants in the Deferred Compensation Plan are mirrored by the rabbi trust as a way to minimize the earnings volatility of the Deferred Compensation Plan.
Fair value, assets and liabilities measured on nonrecurring basisThe following tables present the Company’s assets measured at fair value on a non-recurring basis during the periods ended March 31, 2021 and March 31, 2020, aggregated by the level in the fair value hierarchy within which those measurements fall. As of March 31, 2021 Fair value measurements at reporting date using: Gain (losses) from fair value changes Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Three months ended March 31, 2021 (In thousands) Assets: Impaired loans (1) $ 5,205 $ — $ — $ 5,205 $ (435) _____________________ (1) Collateral-dependent impaired loans held as of March 31, 2021 that had write-downs or recoveries in fair value or whose specific reserve changed during the three months ended March 31, 2021. As of March 31, 2020 Fair value measurements at reporting date using: Gain (losses) from fair value changes Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Three months ended March 31, 2020 (In thousands) Assets: Impaired loans (1) $ 97 $ — $ — $ 97 $ 21 _____________________ (1) Collateral-dependent impaired loans held as of March 31, 2020 that had write-downs or recoveries in fair value or whose specific reserve changed during the three months ended March 31, 2020.
Fair value, assets and liabilities measured on recurring and nonrecurring basis, valuation techniquesThe following tables present additional quantitative information about assets measured at fair value on a non-recurring basis for which the Company has utilized Level 3 inputs to determine fair value: As of March 31, 2021 Fair Value Valuation Unobservable Range of Weighted (In thousands) Impaired Loans $ 5,205 Appraisals of Collateral Discount for costs to sell 5% - 10% 5% Appraisal adjustments —% —% As of March 31, 2020 Fair Value Valuation Unobservable Range of Weighted (In thousands) Impaired Loans $ 97 Appraisals of Collateral Discount for costs to sell 10% - 10% 10% Appraisal adjustments —% —%
Fair value, by balance sheet groupingThe following tables present the carrying values and fair values of the Company’s financial instruments that are not measured at fair value on a recurring basis: As of March 31, 2021 Book Value Fair Value Quoted prices Significant Significant (In thousands) FINANCIAL ASSETS: Cash and cash equivalents $ 1,389,943 $ 1,389,943 $ 1,389,943 $ — $ — Investment securities held-to-maturity 31,943 32,631 — 32,631 — Loans held for sale 8,434 8,431 — 8,431 — Loans, net 7,142,315 7,035,003 — — 7,035,003 Other financial assets 56,917 56,917 — 56,917 — FINANCIAL LIABILITIES: Deposits 9,147,618 9,148,568 — 9,148,568 — Securities sold under agreements to repurchase 46,262 46,262 — 46,262 — Federal Home Loan Bank borrowings 115,019 115,410 — 115,410 — Junior subordinated debentures 106,363 69,863 — — 69,863 Other financial liabilities 1,751 1,751 — 1,751 — As of December 31, 2020 Book Value Fair Value Quoted prices Significant Significant (In thousands) FINANCIAL ASSETS: Cash and cash equivalents $ 1,055,588 $ 1,055,588 $ 1,055,588 $ — $ — Investment securities held-to-maturity 35,223 35,942 — 35,942 — Loans held for sale 17,421 17,782 — 17,782 — Loans, net 7,023,071 6,980,202 — — 6,980,202 Other financial assets 57,654 57,654 — 57,654 — FINANCIAL LIABILITIES: Deposits 8,595,366 8,596,193 — 8,596,193 — Securities sold under agreements to repurchase 53,472 53,472 — 53,472 — Federal Home Loan Bank borrowings 114,659 115,284 — 115,284 — Junior subordinated debentures 106,363 69,863 — — 69,863 Other financial liabilities 1,734 1,734 — 1,734 —

Loan Portfolio and Credit Qua_2

Loan Portfolio and Credit Quality (Tables)3 Months Ended
Mar. 31, 2021
Loans and Leases Receivable Disclosure [Abstract]
Schedule of accounts, notes, loans and financing receivableThe following table presents a summary of the loan portfolio based on the portfolio segment as of the dates indicated: March 31, 2021 December 31, 2020 (In thousands) Commercial and industrial $ 668,217 $ 558,343 Paycheck Protection Program 351,170 312,356 Commercial tax-exempt 488,507 442,159 Commercial real estate 2,697,677 2,757,375 Construction and land 181,482 159,204 Residential 2,632,554 2,677,464 Home equity 71,752 77,364 Consumer and other 124,966 120,044 Total $ 7,216,325 $ 7,104,309
Schedule of financing receivables, non accrual statusThe following table presents nonaccrual loans receivable by class of receivable as of the dates indicated: March 31, 2021 December 31, 2020 (In thousands) Commercial and industrial $ 4,766 $ 4,394 Commercial real estate 5,859 5,261 Residential 14,475 13,780 Home equity 651 415 Consumer and other 13 1 Total $ 25,764 $ 23,851
Past due financing receivablesThe following tables show the payment status of loans receivable by class of receivable as of the dates indicated: March 31, 2021 Accruing Past Due Nonaccrual Loans 30-59 Days Past Due 60-89 Days Past Due Total Accruing Past Due Current 30-89 Days Past Due 90 Days or Total Non-Accrual Loans Current Accruing Loans Total (In thousands) Commercial and industrial $ 2,914 $ — $ 2,914 $ 1,832 $ 1,914 $ 1,020 $ 4,766 $ 660,537 $ 668,217 Paycheck Protection Program — — — — — — — 351,170 351,170 Commercial tax-exempt — — — — — — — 488,507 488,507 Commercial real estate — — — 601 — 5,258 5,859 2,691,818 2,697,677 Construction and land — — — — — — — 181,482 181,482 Residential 4,044 — 4,044 8,838 1,655 3,982 14,475 2,614,035 2,632,554 Home equity 104 — 104 611 — 40 651 70,997 71,752 Consumer and other 173 14 187 13 — — 13 124,766 124,966 Total $ 7,235 $ 14 $ 7,249 $ 11,895 $ 3,569 $ 10,300 $ 25,764 $ 7,183,312 $ 7,216,325 December 31, 2020 Accruing Past Due Nonaccrual Loans 30-59 Days Past Due 60-89 Days Past Due Total Accruing Past Due Current 30-89 Days Past Due 90 Days or Greater Past Due Total Non-Accrual Loans Current Accruing Loans Total Loans Receivable (In thousands) Commercial and industrial $ 1,837 $ 522 $ 2,359 $ 3,934 $ 87 $ 373 $ 4,394 $ 551,590 $ 558,343 Paycheck Protection Program — — — — — — — 312,356 312,356 Commercial tax-exempt — — — — — — — 442,159 442,159 Commercial real estate 136 491 627 — — 5,261 5,261 2,751,487 2,757,375 Construction and land — — — — — — — 159,204 159,204 Residential 10,960 4,538 15,498 8,183 1,521 4,076 13,780 2,648,186 2,677,464 Home equity 1,107 256 1,363 228 — 187 415 75,586 77,364 Consumer and other 15 — 15 — 1 — 1 120,028 120,044 Total $ 14,055 $ 5,807 $ 19,862 $ 12,345 $ 1,609 $ 9,897 $ 23,851 $ 7,060,596 $ 7,104,309
Financing receivable credit quality indicatorsThe following tables present the loan portfolio’s credit risk profile by internally assigned grade and class of receivable as of the dates indicated: March 31, 2021 By Loan Grade or Nonaccrual Status Pass Special Accruing Nonaccrual Total (In thousands) Commercial and industrial $ 623,253 $ 12,795 $ 27,403 $ 4,766 $ 668,217 Paycheck Protection Program 351,170 — — — 351,170 Commercial tax-exempt 485,720 2,787 — — 488,507 Commercial real estate 2,452,482 133,609 105,727 5,859 2,697,677 Construction and land 178,501 2,981 — — 181,482 Residential 2,615,079 — 3,000 14,475 2,632,554 Home equity 71,101 — — 651 71,752 Consumer and other 124,653 300 — 13 124,966 Total $ 6,901,959 $ 152,472 $ 136,130 $ 25,764 $ 7,216,325 December 31, 2020 By Loan Grade or Nonaccrual Status Pass Special Accruing Nonaccrual Total (In thousands) Commercial and industrial $ 519,680 $ 11,314 $ 22,955 $ 4,394 $ 558,343 Paycheck Protection Program 312,356 — — — 312,356 Commercial tax-exempt 434,850 2,806 4,503 — 442,159 Commercial real estate 2,505,424 170,521 76,169 5,261 2,757,375 Construction and land 156,908 2,296 — — 159,204 Residential 2,660,684 — 3,000 13,780 2,677,464 Home equity 76,693 — 256 415 77,364 Consumer and other 119,743 300 — 1 120,044 Total $ 6,786,338 $ 187,237 $ 106,883 $ 23,851 $ 7,104,309 ______________________ (1) Accruing Classified may include both Substandard and Doubtful classifications. The following tables present the loan portfolio’s credit risk profile by loan origination year and class of receivable as of the dates indicated: March 31, 2021 Loan Origination Year By Loan Grade or Nonaccrual Status 2021 2020 2019 2018 2017 Prior Revolving Revolving Converted to Term (2) Total (In thousands) Commercial and industrial Pass $ 22,837 $ 92,124 $ 71,592 $ 57,958 $ 12,334 $ 56,994 $ 301,010 $ 8,404 $ 623,253 Special Mention — 321 4,919 952 — 2,588 3,764 251 12,795 Accruing Classified (1) 4,600 1,992 195 6,241 659 63 7,709 5,944 27,403 Nonaccrual — — 375 346 16 903 884 2,242 4,766 Total $ 27,437 $ 94,437 $ 77,081 $ 65,497 $ 13,009 $ 60,548 $ 313,367 $ 16,841 $ 668,217 Paycheck Protection Program Pass $ 113,041 $ 238,129 $ — $ — $ — $ — $ — $ — $ 351,170 Total $ 113,041 $ 238,129 $ — $ — $ — $ — $ — $ — $ 351,170 Commercial tax-exempt Pass $ — $ 89,135 $ 38,215 $ 40,285 $ 24,410 $ 290,684 $ — $ 2,991 $ 485,720 Special Mention — — — — — 2,787 — — 2,787 Total $ — $ 89,135 $ 38,215 $ 40,285 $ 24,410 $ 293,471 $ — $ 2,991 $ 488,507 Commercial real estate Pass $ 65,639 $ 264,428 $ 444,717 $ 248,987 $ 301,316 $ 1,022,447 $ 90,477 $ 14,471 $ 2,452,482 Special Mention — 18,253 15,913 2,317 17,744 79,382 — — 133,609 Accruing Classified (1) — 5,586 49,581 23,964 12,787 13,809 — — 105,727 Nonaccrual — — 5,212 — 598 — 49 — 5,859 Total $ 65,639 $ 288,267 $ 515,423 $ 275,268 $ 332,445 $ 1,115,638 $ 90,526 $ 14,471 $ 2,697,677 Construction and land Pass $ 6,774 $ 57,925 $ 73,762 $ 21,550 $ 16,262 $ 2,228 $ — $ — $ 178,501 Special Mention — — — 2,981 — — — — 2,981 Total $ 6,774 $ 57,925 $ 73,762 $ 24,531 $ 16,262 $ 2,228 $ — $ — $ 181,482 Residential Pass $ 138,273 $ 599,553 $ 436,633 $ 338,505 $ 348,499 $ 753,601 $ — $ 15 $ 2,615,079 Accruing Classified (1) — — — — — 3,000 — — 3,000 Nonaccrual — — 603 473 2,373 11,026 — — 14,475 Total $ 138,273 $ 599,553 $ 437,236 $ 338,978 $ 350,872 $ 767,627 $ — $ 15 $ 2,632,554 Home equity Pass $ — $ — $ — $ — $ — $ 1,367 $ 59,919 $ 9,815 $ 71,101 Nonaccrual — — — — — 256 139 256 651 Total $ — $ — $ — $ — $ — $ 1,623 $ 60,058 $ 10,071 $ 71,752 Consumer and other Pass $ 964 $ 653 $ 147 $ 19 $ — $ 593 $ 122,277 $ — $ 124,653 Special Mention — — — — — — 300 — 300 Nonaccrual — — — — — — 13 — 13 Total $ 964 $ 653 $ 147 $ 19 $ — $ 593 $ 122,590 $ — $ 124,966 Total Pass $ 347,528 $ 1,341,947 $ 1,065,066 $ 707,304 $ 702,821 $ 2,127,914 $ 573,683 $ 35,696 $ 6,901,959 Special Mention — 18,574 20,832 6,250 17,744 84,757 4,064 251 152,472 Accruing Classified (1) 4,600 7,578 49,776 30,205 13,446 16,872 7,709 5,944 136,130 Nonaccrual — — 6,190 819 2,987 12,185 1,085 2,498 25,764 Total $ 352,128 $ 1,368,099 $ 1,141,864 $ 744,578 $ 736,998 $ 2,241,728 $ 586,541 $ 44,389 $ 7,216,325 ______________________ (1) Accruing Classified may include both Substandard and Doubtful classifications. (2) Amounts for revolving loans converted to term loans represent only those loans that have been converted to term loans after December 31, 2016. Due to data limitations, information prior to December 31, 2016 is unavailable. December 31, 2020 Loan Origination Year By Loan Grade or Nonaccrual Status 2020 2019 2018 2017 2016 Prior Revolving Revolving Converted to Term (2) Total (In thousands) Commercial and industrial Pass $ 96,230 $ 80,949 $ 65,506 $ 13,378 $ 17,972 $ 43,592 $ 191,252 $ 10,801 $ 519,680 Special Mention 358 2,413 1,008 674 — 2,688 3,911 262 11,314 Accruing Classified (1) 1,184 223 6,247 — — 110 8,683 6,508 22,955 Nonaccrual — 141 350 — 813 14 1,012 2,064 4,394 Total $ 97,772 $ 83,726 $ 73,111 $ 14,052 $ 18,785 $ 46,404 $ 204,858 $ 19,635 $ 558,343 Paycheck Protection Program Pass $ 312,356 $ — $ — $ — $ — $ — $ — $ — $ 312,356 Total $ 312,356 $ — $ — $ — $ — $ — $ — $ — $ 312,356 Commercial tax-exempt Pass $ 53,225 $ 20,586 $ 40,451 $ 24,624 $ 102,133 $ 190,798 $ — $ 3,033 $ 434,850 Special Mention — — — — — 2,806 — — 2,806 Accruing Classified (1) — — — — — 4,503 — — 4,503 Total $ 53,225 $ 20,586 $ 40,451 $ 24,624 $ 102,133 $ 198,107 $ — $ 3,033 $ 442,159 Commercial real estate Pass $ 311,605 $ 462,144 $ 247,228 $ 308,437 $ 375,713 $ 657,563 $ 126,544 $ 16,190 $ 2,505,424 Special Mention 21,661 13,851 12,382 29,461 37,123 56,043 — — 170,521 Accruing Classified (1) 3,161 49,637 14,000 — — 9,371 — — 76,169 Nonaccrual — 5,212 — — — — 49 — 5,261 Total $ 336,427 $ 530,844 $ 273,610 $ 337,898 $ 412,836 $ 722,977 $ 126,593 $ 16,190 $ 2,757,375 Construction and land Pass $ 43,042 $ 63,914 $ 31,434 $ 16,288 $ 2,230 $ — $ — $ — $ 156,908 Special Mention — — 2,296 — — — — — 2,296 Total $ 43,042 $ 63,914 $ 33,730 $ 16,288 $ 2,230 $ — $ — $ — $ 159,204 Residential Pass $ 603,414 $ 471,237 $ 366,390 $ 388,845 $ 352,330 $ 478,468 $ — $ — $ 2,660,684 Accruing Classified (1) — — — — — 3,000 — — 3,000 Nonaccrual — 604 272 2,373 62 10,469 — — 13,780 Total $ 603,414 $ 471,841 $ 366,662 $ 391,218 $ 352,392 $ 491,937 $ — $ — $ 2,677,464 Home equity Pass $ — $ — $ 252 $ — $ 686 $ 553 $ 64,985 $ 10,217 $ 76,693 Accruing Classified (1) — — — — — — — 256 256 Nonaccrual — — — — — 276 139 — 415 Total $ — $ — $ 252 $ — $ 686 $ 829 $ 65,124 $ 10,473 $ 77,364 Consumer and other Pass $ 728 $ 158 $ 25 $ — $ 81 $ 574 $ 118,177 $ — $ 119,743 Special Mention — — — — — — 300 — 300 Nonaccrual — — — — — — 1 — 1 Total $ 728 $ 158 $ 25 $ — $ 81 $ 574 $ 118,478 $ — $ 120,044 Total Pass $ 1,420,600 $ 1,098,988 $ 751,286 $ 751,572 $ 851,145 $ 1,371,548 $ 500,958 $ 40,241 $ 6,786,338 Special Mention 22,019 16,264 15,686 30,135 37,123 61,537 4,211 262 187,237 Accruing Classified (1) 4,345 49,860 20,247 — — 16,984 8,683 6,764 106,883 Nonaccrual — 5,957 622 2,373 875 10,759 1,201 2,064 23,851 Total $ 1,446,964 $ 1,171,069 $ 787,841 $ 784,080 $ 889,143 $ 1,460,828 $ 515,053 $ 49,331 $ 7,104,309 ______________________ (1) Accruing Classified may include both Substandard and Doubtful classifications. (2) Amounts for revolving loans converted to term loans represent only those loans that have been converted to term loans after December 31, 2016. Due to data limitations, information prior to December 31, 2016 is unavailable.
Impaired financing receivablesThe following tables present, by class of receivable, the balance of impaired loans with and without a related allowance, the associated allowance for those impaired loans with a related allowance, and the total unpaid principal on impaired loans: As of and for the three months ended March 31, 2021 Recorded Investment (1) Unpaid Principal Balance Related Allowance YTD Average Recorded Investment YTD Interest Income Recognized while Impaired (In thousands) With no related allowance recorded: Commercial and industrial $ 3,806 $ 3,880 n/a $ 3,594 $ — Paycheck Protection Program — — n/a — — Commercial tax-exempt — — n/a — — Commercial real estate — — n/a 1,303 — Construction and land — — n/a — — Residential 14,710 14,974 n/a 14,564 90 Home equity (2) 355 355 n/a 362 8 Consumer and other — — n/a — — Subtotal $ 18,871 $ 19,209 n/a $ 19,823 $ 98 With an allowance recorded: Commercial and industrial $ 610 $ 629 $ 541 $ 789 $ — Paycheck Protection Program — — — — — Commercial tax-exempt — — — — — Commercial real estate 5,261 5,434 125 3,958 — Construction and land — — — — — Residential 341 341 51 384 2 Home equity 256 256 17 256 — Consumer and other — — — — — Subtotal $ 6,468 $ 6,660 $ 734 $ 5,387 $ 2 Total: Commercial and industrial $ 4,416 $ 4,509 $ 541 $ 4,383 $ — Paycheck Protection Program — — — — — Commercial tax-exempt — — — — — Commercial real estate 5,261 5,434 125 5,261 — Construction and land — — — — — Residential 15,051 15,315 51 14,948 92 Home equity (2) 611 611 17 618 8 Consumer and other — — — — — Total $ 25,339 $ 25,869 $ 734 $ 25,210 $ 100 _____________________ (1) Recorded investment represents the client loan balance net of historical charge-offs and historical nonaccrual interest paid, if applicable, which was applied to principal. (2) Negative quarterly income is due to reversal of income recognized in prior quarter. As of and for the three months ended March 31, 2020 Recorded Investment (1) Unpaid Principal Balance Related Allowance YTD Average Recorded Investment YTD Interest Income Recognized while Impaired (In thousands) With no related allowance recorded: Commercial and industrial $ 555 $ 632 n/a $ 667 $ 6 Commercial tax-exempt — — n/a — — Commercial real estate 6,119 6,151 n/a 2,403 9 Construction and land — — n/a — — Residential 16,352 16,612 n/a 15,587 117 Home equity 1,548 2,109 n/a 1,550 3 Consumer and other — — n/a — — Subtotal $ 24,574 $ 25,504 n/a $ 20,207 $ 135 With an allowance recorded: Commercial and industrial $ 273 $ 280 $ 175 $ 281 $ — Commercial tax-exempt — — — — — Commercial real estate — — — — — Construction and land — — — — — Residential 532 532 64 535 4 Home equity 270 270 20 271 2 Consumer and other — — — — — Subtotal $ 1,075 $ 1,082 $ 259 $ 1,087 $ 6 Total: Commercial and industrial $ 828 $ 912 $ 175 $ 948 $ 6 Commercial tax-exempt — — — — — Commercial real estate 6,119 6,151 — 2,403 9 Construction and land — — — — — Residential 16,884 17,144 64 16,122 121 Home equity 1,818 2,379 20 1,821 5 Consumer and other — — — — — Total $ 25,649 $ 26,586 $ 259 $ 21,294 $ 141 _____________________ (1) Recorded investment represents the client loan balance net of historical charge-offs and historical nonaccrual interest paid, if applicable, which was applied to principal. As of and for the year ended December 31, 2020 Recorded Investment (1) Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized while Impaired (In thousands) With no related allowance recorded: Commercial and industrial $ 2,262 $ 2,307 n/a $ 2,512 $ 141 Paycheck Protection Program — — n/a — — Commercial tax-exempt — — n/a 302 20 Commercial real estate 5,212 5,384 n/a 4,818 33 Construction and land — — n/a — — Residential 14,523 14,783 n/a 15,509 534 Home equity 367 367 n/a 922 16 Consumer and other — — n/a — — Subtotal $ 22,364 $ 22,841 n/a $ 24,063 $ 744 With an allowance recorded: Commercial and industrial $ 2,053 $ 2,090 $ 279 $ 378 $ 1 Paycheck Protection Program — — — — — Commercial tax-exempt — — — — — Commercial real estate 50 50 50 23 — Construction and land — — — — — Residential 419 419 54 498 13 Home equity 256 256 17 264 7 Consumer and other — — — — — Subtotal $ 2,778 $ 2,815 $ 400 $ 1,163 $ 21 Total: Commercial and industrial $ 4,315 $ 4,397 $ 279 $ 2,890 $ 142 Paycheck Protection Program — — — — — Commercial tax-exempt — — — 302 20 Commercial real estate 5,262 5,434 50 4,841 33 Construction and land — — — — — Residential 14,942 15,202 54 16,007 547 Home equity 623 623 17 1,186 23 Consumer and other — — — — — Total $ 25,142 $ 25,656 $ 400 $ 25,226 $ 765 _____________________
Troubled debt restructurings on financing receivablesThe following tables present the balance of TDRs that were restructured or defaulted during the periods indicated: As of and for the three months ended March 31, 2021 Restructured Year to Date TDRs that defaulted in the Year to Date that were restructured # of Pre- Post- # of Post- (In thousands, except number of loans) Residential and home equity (1) 1 $ 220 $ 220 — $ — Total 1 $ 220 $ 220 — $ — _____________________ (1) Represents the following type of concession: extension of maturity As of and for the three months ended March 31, 2020 Restructured Year to Date TDRs that defaulted in the Year to Date that were restructured # of Pre- Post- # of Post- (In thousands, except number of loans) Commercial and industrial (1) 1 $ 50 $ 50 — $ — Residential and home equity (2) 1 2,373 2,373 — — Total 2 $ 2,423 $ 2,423 — $ — _____________________ (1) Represents the following type of concession: extension of maturity and reduction in interest rate. (2) Represents the following type of concession: payment deferral.
Loan participation amounts by loan typeThe following table presents a summary of the loan participations serviced for others and loans serviced for others based on class of receivable as of the dates indicated: March 31, 2021 December 31, 2020 (In thousands) Commercial and industrial $ 110,284 $ 110,589 Commercial tax-exempt 22,845 17,604 Commercial real estate 136,019 130,551 Construction and land 102,422 93,874 Total loan participations serviced for others $ 371,570 $ 352,618 Residential $ 146,080 $ 168,110 Total loans serviced for others $ 146,080 $ 168,110

Allowance for Loan Losses (Tabl

Allowance for Loan Losses (Tables)3 Months Ended
Mar. 31, 2021
Receivables [Abstract]
Allowance for credit losses on financing receivablesThe following table presents a summary of the changes in the Allowance for loan losses for the periods indicated: As of and for the three months ended March 31, 2021 2020 (In thousands) Allowance for loan losses, beginning of period: Commercial and industrial $ 8,985 $ 10,048 Paycheck Protection Program 159 n/a Commercial tax-exempt 2,550 6,016 Commercial real estate 51,161 40,765 Construction and land 4,041 5,119 Residential 12,864 8,857 Home equity 293 778 Consumer and other 1,185 399 Total Allowance for loan losses, beginning of period $ 81,238 $ 71,982 Impact of adopting ASU 2016-13: Commercial and industrial n/a (565) Paycheck Protection Program n/a n/a Commercial tax-exempt n/a (4,409) Commercial real estate n/a (14,455) Construction and land n/a (2,158) Residential n/a 685 Home equity n/a (535) Consumer and other n/a 1,052 Total impact of adopting ASU 2016-13 n/a $ (20,385) Allowance for loan losses, beginning of period, net $ 81,238 $ 51,597 Provision/(credit) for loan losses: Commercial and industrial $ 2,017 $ 1,245 Paycheck Protection Program 20 n/a Commercial tax-exempt 35 320 Commercial real estate (5,404) 10,270 Construction and land (788) 2,748 Residential (2,689) 2,237 Home equity (64) (72) Consumer and other (131) 214 Total provision/(credit) for loan losses $ (7,004) $ 16,962 As of and for the three months ended March 31, 2021 2020 (In thousands) Loans charged -off: Commercial and industrial $ (297) $ (518) Paycheck Protection Program — n/a Commercial tax-exempt — — Commercial real estate — — Construction and land — — Residential — — Home equity — — Consumer and other — (10) Total charge-offs $ (297) $ (528) Recoveries on loans previously charged-off: Commercial and industrial $ 39 $ 45 Paycheck Protection Program — n/a Commercial tax-exempt — — Commercial real estate — — Construction and land — — Residential 3 — Home equity — 132 Consumer and other 31 3 Total recoveries $ 73 $ 180 Allowance for loan losses, end of period: Commercial and industrial $ 10,744 $ 10,255 Paycheck Protection Program 179 n/a Commercial tax-exempt 2,585 1,927 Commercial real estate 45,757 36,580 Construction and land 3,253 5,709 Residential 10,178 11,779 Home equity 229 303 Consumer and other 1,085 1,658 Total Allowance for loan losses, end of period $ 74,010 $ 68,211
Allowance by method of impairment analysisThe following tables present the Company’s Allowance for loan losses and loan portfolio as of March 31, 2021 and December 31, 2020 by portfolio segment, disaggregated by method of impairment analysis. The Company had no loans acquired with deteriorated credit quality as of March 31, 2021 or December 31, 2020. March 31, 2021 Individually Evaluated Collectively Evaluated Total Recorded investment Allowance for loan losses Recorded investment Allowance for loan losses Recorded investment Allowance for loan losses (In thousands) Commercial and industrial $ 4,416 $ 541 $ 663,801 $ 10,203 $ 668,217 $ 10,744 Paycheck Protection Program — — 351,170 179 351,170 179 Commercial tax-exempt — — 488,507 2,585 488,507 2,585 Commercial real estate 5,261 125 2,692,416 45,632 2,697,677 45,757 Construction and land — — 181,482 3,253 181,482 3,253 Residential 15,051 51 2,617,503 10,127 2,632,554 10,178 Home equity 611 17 71,141 212 71,752 229 Consumer and other — — 124,966 1,085 124,966 1,085 Total $ 25,339 $ 734 $ 7,190,986 $ 73,276 $ 7,216,325 $ 74,010 December 31, 2020 Individually Evaluated Collectively Evaluated Total Recorded investment Allowance for loan losses Recorded investment Allowance for loan losses Recorded investment Allowance for loan losses (In thousands) Commercial and industrial $ 4,315 $ 279 $ 554,028 $ 8,706 $ 558,343 $ 8,985 Paycheck Protection Program — — 312,356 159 312,356 159 Commercial tax-exempt — — 442,159 2,550 442,159 2,550 Commercial real estate 5,262 50 2,752,113 51,111 2,757,375 51,161 Construction and land — — 159,204 4,041 159,204 4,041 Residential 14,942 54 2,662,522 12,810 2,677,464 12,864 Home equity 623 17 76,741 276 77,364 293 Consumer and other — — 120,044 1,185 120,044 1,185 Total $ 25,142 $ 400 $ 7,079,167 $ 80,838 $ 7,104,309 $ 81,238

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)3 Months Ended
Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of derivative instruments in statement of financial positionThe following table presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Balance Sheets as of March 31, 2021 and December 31, 2020: March 31, 2021 December 31, 2020 Asset derivatives Liability derivatives Asset derivatives Liability derivatives Balance Fair Balance Fair Balance Fair Balance Fair (In thousands) Derivatives designated as hedging instruments: Interest rate swaps Other assets $ — Other liabilities $ 157 Other assets $ — Other liabilities $ 228 Derivatives not designated as hedging instruments: Interest rate customer swaps Other assets 53,682 Other liabilities 54,529 Other assets 83,255 Other liabilities 84,590 Risk participation agreements Other assets 28 Other liabilities 211 Other assets 49 Other liabilities 375 Total $ 53,710 $ 54,897 $ 83,304 $ 85,193 _____________________ (1) For additional details, see Part I. Item 1. “Notes to Unaudited Consolidated Financial Statements - Note 5: Fair Value Measurements.”
Schedule of derivative instruments, gain (loss) in statement of financial performanceThe following table presents the effect of the Company’s derivative financial instruments on Accumulated other comprehensive income for the three months ended March 31, 2021 and 2020: Derivatives in cash Amount of gain or (loss) recognized in OCI on derivatives Location of gain Amount of gain or (loss) reclassified from accumulated OCI into income Three months ended March 31, Three months ended March 31, 2021 2020 2021 2020 (In thousands) (In thousands) Interest rate swaps $ 8 $ — Interest income/(expense) $ (63) $ — Total $ 8 $ — $ (63) $ — The following table presents the effect of the Company’s derivative financial instruments in the Consolidated Statements of Operations for the three months ended March 31, 2021 and 2020: Location of gain or (loss) reclassified from accumulated Amount of gain or Three months ended March 31, 2021 2020 (In thousands) Total amounts of income and (expense) line items presented in the Consolidated Statements of Operations in which the effects of fair value or cash flow hedges are recorded Interest income/(expense) $ (63) $ — The effects of cash flow hedging: Gain or (loss) on cash flow hedging relationships in ASC 815 Interest contracts - amount of gain or (loss) reclassified from Accumulated other comprehensive income into income Interest income/(expense) $ (63) $ —
Derivatives not designated as hedging instrumentThe following table presents the effect of the Bank’s derivative financial instruments not designated as hedging instruments in the Consolidated Statements of Operations for the three months ended March 31, 2021 and 2020. Amount of gain or (loss), net, Derivatives not designated as Location of gain or (loss) recognized in income on derivatives Three months ended March 31, 2021 2020 (In thousands) Interest rate swaps Other income/(expense) $ 488 $ (555) Risk participation agreements Other income/(expense) 144 (202) Total $ 632 $ (757)

Income Taxes (Tables)

Income Taxes (Tables)3 Months Ended
Mar. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of effective income tax rate reconciliationThe following table presents the components of Income tax expense and effective tax rates for the periods indicated: Three months ended March 31, 2021 2020 (In thousands) Income before income taxes $ 16,728 $ 908 Income tax expense 6,076 102 Net income before attribution to noncontrolling interests $ 10,652 $ 806 Effective tax rate 36.3 % 11.2 %

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)3 Months Ended
Mar. 31, 2021
Noncontrolling Interest [Abstract]
Consolidation, less than wholly owned subsidiary, parent ownership interest, effects of changes, netThe following table presents a roll-forward of the Company’s Redeemable noncontrolling interests for the periods indicated: Three months ended March 31, 2021 2020 (In thousands) Redeemable noncontrolling interests at beginning of period $ — $ 1,383 Net income attributable to noncontrolling interests — 6 Distributions — (6) Purchases/(sales) of ownership interests — (64) Amortization of equity compensation 7 8 Adjustments to fair value (7) (1,327) Redeemable noncontrolling interests at end of period $ — $ —

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)3 Months Ended
Mar. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Reclassification out of accumulated other comprehensive incomeThe following table presents a summary of the amounts reclassified from the Company's Accumulated other comprehensive income/(loss) for the three months ended March 31, 2021 and 2020: Description of component of Accumulated other comprehensive income/(loss) Three months ended March 31, Affected line item in 2021 2020 (In thousands) Net realized gain/(loss) on cash flow hedges: Hedges related to deposits: Pre-tax gain/(loss) $ (63) $ — Interest income/(expense) Tax (expense)/benefit 19 — Income tax (expense)/benefit Total reclassifications for the period, net of tax $ (44) $ — Net income/(loss) attributable to the Company
Schedule of accumulated other comprehensive income (loss)The following table presents the after-tax changes in the components of the Company’s Accumulated other comprehensive income/(loss) for the three months ended March 31, 2021 and 2020: Components of Accumulated other comprehensive income/(loss) Unrealized gain/(loss) on Investment securities available-for-sale Unrealized Unrealized Accumulated other comprehensive (In thousands) Balance at December 31, 2019 $ 8,435 $ — $ (860) $ 7,575 Other comprehensive income/(loss) before reclassifications 14,489 — — 14,489 Other comprehensive income/(loss), net 14,489 — — 14,489 Balance at March 31, 2020 $ 22,924 $ — $ (860) $ 22,064 Balance at December 31, 2020 $ 32,672 $ (162) $ (825) $ 31,685 Other comprehensive income/(loss) before reclassifications (17,993) 6 — (17,987) Reclassified from other comprehensive income/(loss) — 44 — 44 Other comprehensive income/(loss), net (17,993) 50 — (17,943) Balance at March 31, 2021 $ 14,679 $ (112) $ (825) $ 13,742

Restructuring (Tables)

Restructuring (Tables)3 Months Ended
Mar. 31, 2021
Restructuring and Related Activities [Abstract]
Schedule of restructuring activityThe following table presents a summary of the restructuring activity for the three months ended March 31, 2021 and 2020: Severance Charges Other Associated Costs Total (In thousands) Accrued charges at December 31, 2020 $ — $ 789 $ 789 Costs paid — — — Accrued charges at March 31, 2021 $ — $ 789 $ 789 Accrued charges at December 31, 2019 $ 526 $ 789 $ 1,315 Costs paid (434) — (434) Accrued charges at March 31, 2020 $ 92 $ 789 $ 881

Revenue Recognition (Tables)

Revenue Recognition (Tables)3 Months Ended
Mar. 31, 2021
Revenue Recognition [Abstract]
Fee Income Considered In-scope of ASC 606The following table presents the fee income considered in-scope of ASC 606 by contracts with customers: Three months ended March 31, 2021 2020 (In thousands) Fees and other income: Wealth management and trust fees $ 19,136 $ 18,371 Investment management fees 489 1,925 Other income 874 752 Revenue from contracts with customers 20,499 21,048 Other non-interest income not within the scope of ASC 606 5,671 473 Total non-interest income $ 26,170 $ 21,521

Lease Accounting (Tables)

Lease Accounting (Tables)3 Months Ended
Mar. 31, 2021
Leases [Abstract]
Schedule of lease costThe following table presents information about the Company's leases as of the dates indicated. Three months ended March 31, 2021 2020 (In thousands) Lease cost Operating lease cost $ 5,007 $ 4,601 Short-term lease cost 58 48 Variable lease cost 3 (9) Less: Sublease income (38) (28) Total operating lease cost $ 5,030 $ 4,612 Three months ended March 31, 2021 2020 (In thousands, except years and percentages) Other information Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 5,222 $ 5,100 ROU assets obtained in exchange for new operating lease liabilities (1) $ 1,541 $ 443 Weighted-average remaining lease term for operating leases 7.5 years 7.9 years Weighted-average discount rate for operating leases 3.0 % 3.2 % ______________________ (1) Operating lease liabilities were impacted by the modification and addition of real estate leases and the addition of equipment leases for the three months ended March 31, 2021.
Schedule of minimum payment obligationThe Company is obligated for minimum payments under non-cancelable operating leases. In accordance with the terms of these leases, the Company is currently committed to minimum annual payments as follows as of March 31, 2021: March 31, 2021 (In thousands) Remainder of 2021 $ 15,814 2022 21,334 2023 19,846 2024 13,884 2025 12,541 Thereafter 39,918 Total future minimum lease payments 123,337 Less: Amounts representing interest (16,194) Present value of net future minimum lease payments $ 107,143

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Details) - 3 months ended Mar. 31, 2021segmentmarketgeographicMarkets
Basis Of Presentation And Significant Accounting Policies [Line Items]
Number of reportable segments2
Private Banking
Basis Of Presentation And Significant Accounting Policies [Line Items]
Number of geographic markets3 3

Earnings Per Share - Basic (Det

Earnings Per Share - Basic (Details) - USD ($) $ / shares in Units, $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Basic earnings per share - Numerator:
Net income before attribution to noncontrolling interests $ 10,652 $ 806
Less: Net income attributable to noncontrolling interests0 (6)
Net income attributable to the Company10,652 800
Decrease in noncontrolling interests' redemption values0 414
Net income attributable to common shareholders, treasury stock method $ 10,652 $ 1,214
Basic earnings per share - Denominator:
Weighted average basic common shares outstanding (in shares)82,429,162 83,005,064
Per share data - Basic earnings per share:
Total attributable to common shareholders (in dollars per share) $ 0.13 $ 0.01

Earnings Per Share - Diluted (D

Earnings Per Share - Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Diluted earnings per share - Numerator:
Net income attributable to common shareholders, after assumed dilution $ 10,652 $ 1,214
Diluted earnings per share - Denominator:
Weighted average basic common shares outstanding (in shares)82,429,162 83,005,064
Diluted effect of: Time-based and market-based stock options, and performance-based and time-based restricted stock units, and other dilutive securities (in shares)1,504,945 312,977
Weighted average diluted common shares outstanding (in shares)83,934,107 83,318,041
Per share data - Diluted earnings per share:
Total attributable to common shareholders (in dollars per share) $ 0.13 $ 0.01
Dividends per share declared and paid on common stock (in dollars per share) $ 0.06 $ 0.12

Earnings Per Share - Securities

Earnings Per Share - Securities Excluded Due to Exercise Price Exceeding Average Price During Period (Details) - shares shares in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Shares Excluded Due to Exercise Price Exceeding Average Price During Period [Line Items]
Total anti-dilutive shares excluded from computation of average dilutive EPS333 1,254
Potential common shares from: options, restricted stock units, or other dilutive securities
Shares Excluded Due to Exercise Price Exceeding Average Price During Period [Line Items]
Total anti-dilutive shares excluded from computation of average dilutive EPS333 1,254

Reportable Segments - Narrative

Reportable Segments - Narrative (Details) - 3 months ended Mar. 31, 2021segmentmarketgeographicMarkets
Segment Reporting Information [Line Items]
Number of reportable segments2
Private Banking
Segment Reporting Information [Line Items]
Number of geographic markets3 3

Reportable Segments - Reconcili

Reportable Segments - Reconciliation of Reportable Segment Items (Details) - USD ($)3 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Segment Reporting Information [Line Items]
Net interest income $ 59,477,000 $ 57,257,000
Fees and other income26,170,000 21,521,000
Total revenue85,647,000 78,778,000
Provision/(credit) for loan losses(7,004,000)16,962,000
Operating expense75,923,000 60,908,000
Income/(loss) before income taxes16,728,000 908,000
Income tax expense/(benefit)6,076,000 102,000
Net income/(loss) before attribution to noncontrolling interests10,652,000 806,000
Noncontrolling interests0 (6,000)
Net income attributable to the Company10,652,000 800,000
Assets10,538,492,000 8,746,326,000 $ 10,048,733,000
Amortization of intangibles667,000 715,000
Depreciation3,748,000 2,959,000
Restructuring charges0 0
Operating Segments | Private Banking
Segment Reporting Information [Line Items]
Net interest income59,948,000 58,090,000
Fees and other income4,075,000 1,108,000
Total revenue64,023,000 59,198,000
Provision/(credit) for loan losses(7,004,000)16,962,000
Operating expense44,460,000 42,588,000
Income/(loss) before income taxes26,567,000 (352,000)
Income tax expense/(benefit)4,720,000 (931,000)
Net income/(loss) before attribution to noncontrolling interests21,847,000 579,000
Net income attributable to the Company21,847,000 579,000
Assets10,485,377,000 8,692,069,000
Amortization of intangibles189,000 77,000
Depreciation2,971,000 2,626,000
Operating Segments | Wealth Management and Trust
Segment Reporting Information [Line Items]
Net interest income1,000 72,000
Fees and other income19,165,000 18,485,000
Total revenue19,166,000 18,557,000
Operating expense17,455,000 15,449,000
Income/(loss) before income taxes1,711,000 3,108,000
Income tax expense/(benefit)499,000 1,074,000
Net income/(loss) before attribution to noncontrolling interests1,212,000 2,034,000
Net income attributable to the Company1,212,000 2,034,000
Assets155,994,000 143,998,000
Amortization of intangibles478,000 638,000
Depreciation347,000 294,000
Holding Company and Eliminations
Segment Reporting Information [Line Items]
Net interest income(472,000)(905,000)
Fees and other income2,930,000 1,928,000
Total revenue2,458,000 1,023,000
Operating expense14,008,000 2,871,000
Income/(loss) before income taxes(11,550,000)(1,848,000)
Income tax expense/(benefit)857,000 (41,000)
Net income/(loss) before attribution to noncontrolling interests(12,407,000)(1,807,000)
Noncontrolling interests0 6,000
Net income attributable to the Company(12,407,000)(1,813,000)
Assets(102,879,000)(89,741,000)
Depreciation $ 430,000 $ 39,000

Investments - Schedule of Avail

Investments - Schedule of Available-for-sale and Held-to-Maturity Securities (Details) - USD ($)Mar. 31, 2021Dec. 31, 2020
Investment securities available-for-sale at fair value:
Amortized Cost $ 1,319,395,000 $ 1,198,513,000
Unrealized Gains34,135,000 45,805,000
Unrealized Losses(14,122,000)(625,000)
Fair Value1,339,408,000 1,243,693,000
Investment securities held-to-maturity at amortized cost:
Amortized Cost31,943,000 35,223,000
Unrealized Gains688,000 719,000
Unrealized Losses0 0
Fair Value32,631,000 35,942,000
Equity securities at fair value:
Amortized Cost39,708,000 41,452,000
Fair Value39,708,000 41,452,000
U.S. government and agencies
Investment securities available-for-sale at fair value:
Amortized Cost19,964,000 19,962,000
Unrealized Gains650,000 1,022,000
Unrealized Losses0 0
Fair Value20,614,000 20,984,000
Government-sponsored entities
Investment securities available-for-sale at fair value:
Amortized Cost137,866,000 142,985,000
Unrealized Gains3,619,000 4,801,000
Unrealized Losses0 0
Fair Value141,485,000 147,786,000
Municipal bonds
Investment securities available-for-sale at fair value:
Amortized Cost325,312,000 324,422,000
Unrealized Gains17,668,000 22,177,000
Unrealized Losses(585,000)(11,000)
Fair Value342,395,000 346,588,000
Mortgage-backed securities
Investment securities available-for-sale at fair value:
Amortized Cost836,253,000 711,144,000
Unrealized Gains12,198,000 17,805,000
Unrealized Losses(13,537,000)(614,000)
Fair Value834,914,000 728,335,000
Investment securities held-to-maturity at amortized cost:
Amortized Cost31,943,000 35,223,000
Unrealized Gains688,000 719,000
Unrealized Losses0 0
Fair Value32,631,000 35,942,000
Money market mutual funds
Equity securities at fair value:
Amortized Cost39,708,000 41,452,000
Fair Value $ 39,708,000 $ 41,452,000

Investments - Assessment for Cr

Investments - Assessment for Credit Impairment (Details)3 Months Ended
Mar. 31, 2021USD ($)securityMar. 31, 2020USD ($)Dec. 31, 2020USD ($)
Investments [Abstract]
Held to maturity securities, losses $ 0 $ 0
Past due held-to-maturity securities0
Credit allowance, held-to-maturity investment portfolio $ 0
Number of available-for-sale securities with impairment | security0
Credit allowance, available-for-sale investment portfolio $ 0
Sales of equity securities $ 0 $ 0

Investments - Maturities of AFS

Investments - Maturities of AFS Securities (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Amortized Cost
Within one year $ 78,206
After one, but within five years258,270
After five, but within ten years227,730
Greater than ten years755,189
Amortized Cost1,319,395 $ 1,198,513
Fair Value
Within one year79,090
After one, but within five years267,989
After five, but within ten years237,588
Greater than ten years754,741
Total $ 1,339,408 $ 1,243,693

Investments - Maturities of HTM

Investments - Maturities of HTM Securities (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Amortized Cost
After five, but within ten years $ 26,376
Greater than ten years5,567
Amortized Cost31,943 $ 35,223
Fair Value
After five, but within ten years26,970
Greater than ten years5,661
Total $ 32,631 $ 35,942

Investments - Maturities of Equ

Investments - Maturities of Equity Securities (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Amortized Cost
Within one year $ 39,708
Total39,708
Fair Value
Within one year39,708
Total $ 39,708 $ 41,452

Investments - Investment Securi

Investments - Investment Securities in Unrealized Loss Position (Details) $ in ThousandsMar. 31, 2021USD ($)securityDec. 31, 2020USD ($)security
Fair Value
Less than 12 months $ 462,380 $ 128,889
12 months or longer4,989 5,411
Total467,369 134,300
Unrealized Losses
Less than 12 months(14,041)(530)
12 months or longer(81)(95)
Total $ (14,122) $ (625)
Number of securities | security68 43
Municipal bonds
Fair Value
Less than 12 months $ 26,139 $ 2,344
12 months or longer0 0
Total26,139 2,344
Unrealized Losses
Less than 12 months(585)(11)
12 months or longer0 0
Total $ (585) $ (11)
Number of securities | security9 2
Mortgage-backed securities
Fair Value
Less than 12 months $ 436,241 $ 126,545
12 months or longer4,989 5,411
Total441,230 131,956
Unrealized Losses
Less than 12 months(13,456)(519)
12 months or longer(81)(95)
Total $ (13,537) $ (614)
Number of securities | security59 41

Investments - Other Investment

Investments - Other Investment Disclosures (Details) - USD ($)Mar. 31, 2021Dec. 31, 2020
Investments [Abstract]
Other investments with unrealized losses $ 0 $ 0
Investments in low income housing projects $ 74,000,000 $ 75,700,000

Fair Value Measurements - Recur

Fair Value Measurements - Recurring Basis (Details) - USD ($)Mar. 31, 2021Dec. 31, 2020
Assets:
Investment securities available-for-sale: $ 1,339,408,000 $ 1,243,693,000
Equity securities39,708,000 41,452,000
Other liabilities
Liabilities:
Liability derivatives54,897,000 85,193,000
Other liabilities | Interest rate swaps | Derivatives designated as hedging instruments:
Liabilities:
Liability derivatives157,000 228,000
U.S. government and agencies
Assets:
Investment securities available-for-sale:20,614,000 20,984,000
Government-sponsored entities
Assets:
Investment securities available-for-sale:141,485,000 147,786,000
Municipal bonds
Assets:
Investment securities available-for-sale:342,395,000 346,588,000
Mortgage-backed securities
Assets:
Investment securities available-for-sale:834,914,000 728,335,000
Fair Value, Measurements, Recurring
Assets:
Investment securities available-for-sale:1,339,408,000 1,243,693,000
Equity securities39,708,000
Trading securities held in the “rabbi trust”7,633,000 7,204,000
Liabilities:
Deferred compensation “rabbi trust”7,633,000 7,204,000
Fair Value, Measurements, Recurring | U.S. government and agencies
Assets:
Investment securities available-for-sale:20,614,000 20,984,000
Fair Value, Measurements, Recurring | Government-sponsored entities
Assets:
Investment securities available-for-sale:141,485,000 147,786,000
Fair Value, Measurements, Recurring | Municipal bonds
Assets:
Investment securities available-for-sale:342,395,000 346,588,000
Fair Value, Measurements, Recurring | Mortgage-backed securities
Assets:
Investment securities available-for-sale:834,914,000 728,335,000
Fair Value, Measurements, Recurring | Derivatives - interest rate customer swaps
Assets:
Derivatives53,682,000 83,255,000
Liabilities:
Derivatives54,529,000 84,590,000
Fair Value, Measurements, Recurring | Interest rate swaps
Liabilities:
Derivatives157,000 228,000
Fair Value, Measurements, Recurring | Risk participation agreements
Assets:
Derivatives28,000 49,000
Liabilities:
Derivatives211,000 375,000
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets (Level 1)
Assets:
Investment securities available-for-sale:0 0
Equity securities39,708,000 41,452,000
Trading securities held in the “rabbi trust”7,633,000 7,204,000
Liabilities:
Deferred compensation “rabbi trust”7,633,000 7,204,000
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets (Level 1) | U.S. government and agencies
Assets:
Investment securities available-for-sale:0 0
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets (Level 1) | Government-sponsored entities
Assets:
Investment securities available-for-sale:0 0
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets (Level 1) | Municipal bonds
Assets:
Investment securities available-for-sale:0 0
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets (Level 1) | Mortgage-backed securities
Assets:
Investment securities available-for-sale:0 0
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets (Level 1) | Derivatives - interest rate customer swaps
Assets:
Derivatives0 0
Liabilities:
Derivatives0 0
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets (Level 1) | Interest rate swaps
Liabilities:
Derivatives0 0
Fair Value, Measurements, Recurring | Quoted prices in active markets for identical assets (Level 1) | Risk participation agreements
Assets:
Derivatives0 0
Liabilities:
Derivatives0 0
Fair Value, Measurements, Recurring | Significant  other observable inputs (Level 2)
Assets:
Investment securities available-for-sale:1,339,408,000 1,243,693,000
Equity securities0 0
Trading securities held in the “rabbi trust”0 0
Liabilities:
Deferred compensation “rabbi trust”0 0
Fair Value, Measurements, Recurring | Significant  other observable inputs (Level 2) | U.S. government and agencies
Assets:
Investment securities available-for-sale:20,614,000 20,984,000
Fair Value, Measurements, Recurring | Significant  other observable inputs (Level 2) | Government-sponsored entities
Assets:
Investment securities available-for-sale:141,485,000 147,786,000
Fair Value, Measurements, Recurring | Significant  other observable inputs (Level 2) | Municipal bonds
Assets:
Investment securities available-for-sale:342,395,000 346,588,000
Fair Value, Measurements, Recurring | Significant  other observable inputs (Level 2) | Mortgage-backed securities
Assets:
Investment securities available-for-sale:834,914,000 728,335,000
Fair Value, Measurements, Recurring | Significant  other observable inputs (Level 2) | Derivatives - interest rate customer swaps
Assets:
Derivatives53,682,000 83,255,000
Liabilities:
Derivatives54,529,000 84,590,000
Fair Value, Measurements, Recurring | Significant  other observable inputs (Level 2) | Interest rate swaps
Liabilities:
Derivatives157,000 228,000
Fair Value, Measurements, Recurring | Significant  other observable inputs (Level 2) | Risk participation agreements
Assets:
Derivatives28,000 49,000
Liabilities:
Derivatives211,000 375,000
Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3)
Assets:
Investment securities available-for-sale:0 0
Equity securities0 0
Trading securities held in the “rabbi trust”0 0
Liabilities:
Deferred compensation “rabbi trust”0 0
Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) | U.S. government and agencies
Assets:
Investment securities available-for-sale:0 0
Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) | Government-sponsored entities
Assets:
Investment securities available-for-sale:0 0
Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) | Municipal bonds
Assets:
Investment securities available-for-sale:0 0
Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) | Mortgage-backed securities
Assets:
Investment securities available-for-sale:0 0
Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) | Derivatives - interest rate customer swaps
Assets:
Derivatives0 0
Liabilities:
Derivatives0 0
Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) | Interest rate swaps
Liabilities:
Derivatives0 0
Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3) | Risk participation agreements
Assets:
Derivatives0 0
Liabilities:
Derivatives $ 0 $ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($)Mar. 31, 2021Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale: $ 1,339,408,000 $ 1,243,693,000
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale:1,339,408,000 1,243,693,000
Fair Value, Measurements, Recurring | Significant unobservable inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities available-for-sale:0 0
Assets value $ 0 $ 0

Fair Value Measurements - Nonre

Fair Value Measurements - Nonrecurring Basis (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Fair value measurements at reporting date using:
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets: Impaired loans $ 7,035,003 $ 6,980,202
Fair value measurements at reporting date using: | Quoted prices in active markets for identical assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets: Impaired loans0 0
Fair value measurements at reporting date using: | Significant  other observable inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets: Impaired loans0 0
Fair value measurements at reporting date using: | Significant unobservable inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets: Impaired loans7,035,003 $ 6,980,202
Fair value measurements at reporting date using: | Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets: Impaired loans5,205 $ 97
Fair value measurements at reporting date using: | Fair Value, Measurements, Nonrecurring | Quoted prices in active markets for identical assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets: Impaired loans0 0
Fair value measurements at reporting date using: | Fair Value, Measurements, Nonrecurring | Significant  other observable inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets: Impaired loans0 0
Fair value measurements at reporting date using: | Fair Value, Measurements, Nonrecurring | Significant unobservable inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets: Impaired loans5,205 97
Gain (losses) from fair value changes | Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (losses) from fair value changes $ (435) $ 21

Fair Value Measurements - Quant

Fair Value Measurements - Quantitative Information about Level 3 Non-Recurring Assets (Details) - Significant unobservable inputs (Level 3) - Fair Value, Measurements, Nonrecurring $ in ThousandsMar. 31, 2021USD ($)Mar. 31, 2020USD ($)
Substandard
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Fair Value $ 5,205 $ 97
Discount for costs to sell | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Fair Value, non-recurring basis, weighted average unobservable input0.050.10
Discount for costs to sell | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Fair Value, non-recurring basis, weighted average unobservable input0.100.10
Discount for costs to sell | Weighted Average of Inputs Utilized
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Fair Value, non-recurring basis, weighted average unobservable input0.050.10
Appraisal adjustments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Fair Value, non-recurring basis, weighted average unobservable input0 0
Appraisal adjustments | Weighted Average of Inputs Utilized
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Fair Value, non-recurring basis, weighted average unobservable input0 0

Fair Value Measurements - Not M

Fair Value Measurements - Not Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
FINANCIAL ASSETS:
Investment securities held-to-maturity $ 32,631 $ 35,942
Book Value
FINANCIAL ASSETS:
Cash and cash equivalents1,389,943 1,055,588
Investment securities held-to-maturity31,943 35,223
Loans held for sale8,434 17,421
Loans, net7,142,315 7,023,071
Other financial assets56,917 57,654
FINANCIAL LIABILITIES:
Deposits9,147,618 8,595,366
Securities sold under agreements to repurchase46,262 53,472
Federal Home Loan Bank borrowings115,019 114,659
Junior subordinated debentures106,363 106,363
Other financial liabilities1,751 1,734
Fair Value
FINANCIAL ASSETS:
Cash and cash equivalents1,389,943 1,055,588
Investment securities held-to-maturity32,631 35,942
Loans held for sale8,431 17,782
Loans, net7,035,003 6,980,202
Other financial assets56,917 57,654
FINANCIAL LIABILITIES:
Deposits9,148,568 8,596,193
Securities sold under agreements to repurchase46,262 53,472
Federal Home Loan Bank borrowings115,410 115,284
Junior subordinated debentures69,863 69,863
Other financial liabilities1,751 1,734
Fair Value | Quoted prices in active markets for identical assets (Level 1)
FINANCIAL ASSETS:
Cash and cash equivalents1,389,943 1,055,588
Investment securities held-to-maturity0 0
Loans held for sale0 0
Loans, net0 0
Other financial assets0 0
FINANCIAL LIABILITIES:
Deposits0 0
Securities sold under agreements to repurchase0 0
Federal Home Loan Bank borrowings0 0
Junior subordinated debentures0 0
Other financial liabilities0 0
Fair Value | Significant  other observable inputs (Level 2)
FINANCIAL ASSETS:
Cash and cash equivalents0 0
Investment securities held-to-maturity32,631 35,942
Loans held for sale8,431 17,782
Loans, net0 0
Other financial assets56,917 57,654
FINANCIAL LIABILITIES:
Deposits9,148,568 8,596,193
Securities sold under agreements to repurchase46,262 53,472
Federal Home Loan Bank borrowings115,410 115,284
Junior subordinated debentures0 0
Other financial liabilities1,751 1,734
Fair Value | Significant unobservable inputs (Level 3)
FINANCIAL ASSETS:
Cash and cash equivalents0 0
Investment securities held-to-maturity0 0
Loans held for sale0 0
Loans, net7,035,003 6,980,202
Other financial assets0 0
FINANCIAL LIABILITIES:
Deposits0 0
Securities sold under agreements to repurchase0 0
Federal Home Loan Bank borrowings0 0
Junior subordinated debentures69,863 69,863
Other financial liabilities $ 0 $ 0

Loan Portfolio and Credit Qua_3

Loan Portfolio and Credit Quality - Loans by Portfolio Segment (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans $ 7,216,325 $ 7,104,309
Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans668,217 558,343
Paycheck Protection Program
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans351,170 312,356
Commercial tax-exempt
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans488,507 442,159
Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans2,697,677 2,757,375
Construction and land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans181,482 159,204
Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans2,632,554 2,677,464
Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans71,752 77,364
Consumer and other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans $ 124,966 $ 120,044

Loan Portfolio and Credit Qua_4

Loan Portfolio and Credit Quality - Nonaccrual Loans by Class of Financing Receivable (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Nonaccrual loan receivable $ 25,764 $ 23,851
Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Nonaccrual loan receivable4,766 4,394
Commercial tax-exempt
Financing Receivable, Credit Quality Indicator [Line Items]
Nonaccrual loan receivable0 0
Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Nonaccrual loan receivable5,859 5,261
Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Nonaccrual loan receivable14,475 13,780
Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Nonaccrual loan receivable651 415
Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Nonaccrual loan receivable $ 13 $ 1

Loan Portfolio and Credit Qua_5

Loan Portfolio and Credit Quality - Narrative (Details) $ in MillionsMar. 31, 2021USD ($)loansecurityDec. 31, 2020USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans pledged in blanket lien agreement $ 2,200 $ 2,200
Loans pledged as collateral320.7 332.8
TDRs $ 14 13.9
Number of residential and home equity loans processed | loan365
Mortgage payments processed $ 220
Number of residential and home equity loans deferred | loan47
Mortgage payments deferred $ 20
Number of commercial and industrial loans processed | loan85
Commercial and industrial loans processed $ 125
Number of commercial and industrial loans deferred | security4
Commercial and industrial loans deferred $ 5.7
Deferred loan (fees)/costs(2.1)0.3
Performing Financial Instruments
Accounts, Notes, Loans and Financing Receivable [Line Items]
TDRs $ 7.1 $ 7.2

Loan Portfolio and Credit Qua_6

Loan Portfolio and Credit Quality - Loans by Past Due Status (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Financing Receivable, Past Due [Line Items]
Accruing Past Due $ 7,249 $ 19,862
Nonaccrual Loans25,764 23,851
Current Accruing Loans7,183,312 7,060,596
Net loans7,216,325 7,104,309
Commercial and industrial
Financing Receivable, Past Due [Line Items]
Accruing Past Due2,914 2,359
Nonaccrual Loans4,766 4,394
Current Accruing Loans660,537 551,590
Net loans668,217 558,343
Paycheck Protection Program
Financing Receivable, Past Due [Line Items]
Accruing Past Due0 0
Nonaccrual Loans0 0
Current Accruing Loans351,170 312,356
Net loans351,170 312,356
Commercial tax-exempt
Financing Receivable, Past Due [Line Items]
Accruing Past Due0 0
Nonaccrual Loans0 0
Current Accruing Loans488,507 442,159
Net loans488,507 442,159
Commercial real estate
Financing Receivable, Past Due [Line Items]
Accruing Past Due0 627
Nonaccrual Loans5,859 5,261
Current Accruing Loans2,691,818 2,751,487
Net loans2,697,677 2,757,375
Construction and land
Financing Receivable, Past Due [Line Items]
Accruing Past Due0 0
Nonaccrual Loans0 0
Current Accruing Loans181,482 159,204
Net loans181,482 159,204
Residential
Financing Receivable, Past Due [Line Items]
Accruing Past Due4,044 15,498
Nonaccrual Loans14,475 13,780
Current Accruing Loans2,614,035 2,648,186
Net loans2,632,554 2,677,464
Home equity
Financing Receivable, Past Due [Line Items]
Accruing Past Due104 1,363
Nonaccrual Loans651 415
Current Accruing Loans70,997 75,586
Net loans71,752 77,364
Consumer and other
Financing Receivable, Past Due [Line Items]
Accruing Past Due187 15
Nonaccrual Loans13 1
Current Accruing Loans124,766 120,028
Net loans124,966 120,044
30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Accruing Past Due7,235 14,055
30-59 Days Past Due | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Accruing Past Due2,914 1,837
30-59 Days Past Due | Paycheck Protection Program
Financing Receivable, Past Due [Line Items]
Accruing Past Due0 0
30-59 Days Past Due | Commercial tax-exempt
Financing Receivable, Past Due [Line Items]
Accruing Past Due0 0
30-59 Days Past Due | Commercial real estate
Financing Receivable, Past Due [Line Items]
Accruing Past Due0 136
30-59 Days Past Due | Construction and land
Financing Receivable, Past Due [Line Items]
Accruing Past Due0 0
30-59 Days Past Due | Residential
Financing Receivable, Past Due [Line Items]
Accruing Past Due4,044 10,960
30-59 Days Past Due | Home equity
Financing Receivable, Past Due [Line Items]
Accruing Past Due104 1,107
30-59 Days Past Due | Consumer and other
Financing Receivable, Past Due [Line Items]
Accruing Past Due173 15
60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Accruing Past Due14 5,807
60-89 Days Past Due | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Accruing Past Due0 522
60-89 Days Past Due | Paycheck Protection Program
Financing Receivable, Past Due [Line Items]
Accruing Past Due0 0
60-89 Days Past Due | Commercial tax-exempt
Financing Receivable, Past Due [Line Items]
Accruing Past Due0 0
60-89 Days Past Due | Commercial real estate
Financing Receivable, Past Due [Line Items]
Accruing Past Due0 491
60-89 Days Past Due | Construction and land
Financing Receivable, Past Due [Line Items]
Accruing Past Due0 0
60-89 Days Past Due | Residential
Financing Receivable, Past Due [Line Items]
Accruing Past Due0 4,538
60-89 Days Past Due | Home equity
Financing Receivable, Past Due [Line Items]
Accruing Past Due0 256
60-89 Days Past Due | Consumer and other
Financing Receivable, Past Due [Line Items]
Accruing Past Due14 0
Current
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans11,895 12,345
Current | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans1,832 3,934
Current | Paycheck Protection Program
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans0 0
Current | Commercial tax-exempt
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans0 0
Current | Commercial real estate
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans601 0
Current | Construction and land
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans0 0
Current | Residential
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans8,838 8,183
Current | Home equity
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans611 228
Current | Consumer and other
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans13 0
30-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans3,569 1,609
30-89 Days Past Due | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans1,914 87
30-89 Days Past Due | Paycheck Protection Program
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans0 0
30-89 Days Past Due | Commercial tax-exempt
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans0 0
30-89 Days Past Due | Commercial real estate
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans0 0
30-89 Days Past Due | Construction and land
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans0 0
30-89 Days Past Due | Residential
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans1,655 1,521
30-89 Days Past Due | Home equity
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans0 0
30-89 Days Past Due | Consumer and other
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans0 1
90 Days or Greater Past Due
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans10,300 9,897
90 Days or Greater Past Due | Commercial and industrial
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans1,020 373
90 Days or Greater Past Due | Paycheck Protection Program
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans0 0
90 Days or Greater Past Due | Commercial tax-exempt
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans0 0
90 Days or Greater Past Due | Commercial real estate
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans5,258 5,261
90 Days or Greater Past Due | Construction and land
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans0 0
90 Days or Greater Past Due | Residential
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans3,982 4,076
90 Days or Greater Past Due | Home equity
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans40 187
90 Days or Greater Past Due | Consumer and other
Financing Receivable, Past Due [Line Items]
Nonaccrual Loans $ 0 $ 0

Loan Portfolio and Credit Qua_7

Loan Portfolio and Credit Quality - Credit Quality Indicators (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans $ 7,216,325 $ 7,104,309
Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans668,217 558,343
Paycheck Protection Program
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans351,170 312,356
Commercial tax-exempt
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans488,507 442,159
Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans2,697,677 2,757,375
Construction and land
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans181,482 159,204
Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans2,632,554 2,677,464
Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans71,752 77,364
Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans124,966 120,044
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans6,901,959 6,786,338
Pass | Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans623,253 519,680
Pass | Paycheck Protection Program
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans351,170 312,356
Pass | Commercial tax-exempt
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans485,720 434,850
Pass | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans2,452,482 2,505,424
Pass | Construction and land
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans178,501 156,908
Pass | Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans2,615,079 2,660,684
Pass | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans71,101 76,693
Pass | Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans124,653 119,743
Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans152,472 187,237
Special Mention | Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans12,795 11,314
Special Mention | Commercial tax-exempt
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans2,787 2,806
Special Mention | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans133,609 170,521
Special Mention | Construction and land
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans2,981 2,296
Special Mention | Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans300 300
Accruing Classified
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans136,130 106,883
Accruing Classified | Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans27,403 22,955
Accruing Classified | Commercial tax-exempt
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans4,503
Accruing Classified | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans105,727 76,169
Accruing Classified | Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans3,000 3,000
Accruing Classified | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans256
Nonaccrual Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans25,764 23,851
Nonaccrual Loans | Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans4,766 4,394
Nonaccrual Loans | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans5,859 5,261
Nonaccrual Loans | Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans14,475 13,780
Nonaccrual Loans | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans651 415
Nonaccrual Loans | Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans13 1
Nonaccrual Loans | Accruing Classified
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans25,764 23,851
Nonaccrual Loans | Accruing Classified | Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans4,766 4,394
Nonaccrual Loans | Accruing Classified | Paycheck Protection Program
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans0 0
Nonaccrual Loans | Accruing Classified | Commercial tax-exempt
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans0 0
Nonaccrual Loans | Accruing Classified | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans5,859 5,261
Nonaccrual Loans | Accruing Classified | Construction and land
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans0 0
Nonaccrual Loans | Accruing Classified | Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans14,475 13,780
Nonaccrual Loans | Accruing Classified | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans651 415
Nonaccrual Loans | Accruing Classified | Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans13 1
Performing Financial Instruments | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans6,901,959 6,786,338
Performing Financial Instruments | Pass | Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans623,253 519,680
Performing Financial Instruments | Pass | Paycheck Protection Program
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans351,170 312,356
Performing Financial Instruments | Pass | Commercial tax-exempt
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans485,720 434,850
Performing Financial Instruments | Pass | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans2,452,482 2,505,424
Performing Financial Instruments | Pass | Construction and land
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans178,501 156,908
Performing Financial Instruments | Pass | Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans2,615,079 2,660,684
Performing Financial Instruments | Pass | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans71,101 76,693
Performing Financial Instruments | Pass | Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans124,653 119,743
Performing Financial Instruments | Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans152,472 187,237
Performing Financial Instruments | Special Mention | Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans12,795 11,314
Performing Financial Instruments | Special Mention | Paycheck Protection Program
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans0 0
Performing Financial Instruments | Special Mention | Commercial tax-exempt
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans2,787 2,806
Performing Financial Instruments | Special Mention | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans133,609 170,521
Performing Financial Instruments | Special Mention | Construction and land
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans2,981 2,296
Performing Financial Instruments | Special Mention | Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans0 0
Performing Financial Instruments | Special Mention | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans0 0
Performing Financial Instruments | Special Mention | Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans300 300
Performing Financial Instruments | Accruing Classified
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans136,130 106,883
Performing Financial Instruments | Accruing Classified | Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans27,403 22,955
Performing Financial Instruments | Accruing Classified | Paycheck Protection Program
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans0 0
Performing Financial Instruments | Accruing Classified | Commercial tax-exempt
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans0 4,503
Performing Financial Instruments | Accruing Classified | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans105,727 76,169
Performing Financial Instruments | Accruing Classified | Construction and land
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans0 0
Performing Financial Instruments | Accruing Classified | Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans3,000 3,000
Performing Financial Instruments | Accruing Classified | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans0 256
Performing Financial Instruments | Accruing Classified | Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Total loans $ 0 $ 0

Loan Portfolio and Credit Qua_8

Loan Portfolio and Credit Quality - Loans by Grade or Nonaccrual Status (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year $ 352,128 $ 1,446,964
Last fiscal year1,368,099 1,171,069
Two years prior1,141,864 787,841
Three years prior744,578 784,080
Four years prior736,998 889,143
Prior2,241,728 1,460,828
Revolving586,541 515,053
Revolving Converted to Term44,389 49,331
Net loans7,216,325 7,104,309
Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year27,437 97,772
Last fiscal year94,437 83,726
Two years prior77,081 73,111
Three years prior65,497 14,052
Four years prior13,009 18,785
Prior60,548 46,404
Revolving313,367 204,858
Revolving Converted to Term16,841 19,635
Net loans668,217 558,343
Paycheck Protection Program
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year113,041 312,356
Last fiscal year238,129 0
Two years prior0 0
Three years prior0 0
Four years prior0 0
Prior0 0
Revolving0 0
Revolving Converted to Term0 0
Net loans351,170 312,356
Commercial tax-exempt
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year0 53,225
Last fiscal year89,135 20,586
Two years prior38,215 40,451
Three years prior40,285 24,624
Four years prior24,410 102,133
Prior293,471 198,107
Revolving0 0
Revolving Converted to Term2,991 3,033
Net loans488,507 442,159
Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year65,639 336,427
Last fiscal year288,267 530,844
Two years prior515,423 273,610
Three years prior275,268 337,898
Four years prior332,445 412,836
Prior1,115,638 722,977
Revolving90,526 126,593
Revolving Converted to Term14,471 16,190
Net loans2,697,677 2,757,375
Construction and land
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year6,774 43,042
Last fiscal year57,925 63,914
Two years prior73,762 33,730
Three years prior24,531 16,288
Four years prior16,262 2,230
Prior2,228 0
Revolving0 0
Revolving Converted to Term0 0
Net loans181,482 159,204
Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year138,273 603,414
Last fiscal year599,553 471,841
Two years prior437,236 366,662
Three years prior338,978 391,218
Four years prior350,872 352,392
Prior767,627 491,937
Revolving0 0
Revolving Converted to Term15 0
Net loans2,632,554 2,677,464
Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year0 0
Last fiscal year0 0
Two years prior0 252
Three years prior0 0
Four years prior0 686
Prior1,623 829
Revolving60,058 65,124
Revolving Converted to Term10,071 10,473
Net loans71,752 77,364
Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year964 728
Last fiscal year653 158
Two years prior147 25
Three years prior19 0
Four years prior0 81
Prior593 574
Revolving122,590 118,478
Revolving Converted to Term0 0
Net loans124,966 120,044
Nonaccrual Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year0 0
Last fiscal year0 5,957
Two years prior6,190 622
Three years prior819 2,373
Four years prior2,987 875
Prior12,185 10,759
Revolving1,085 1,201
Revolving Converted to Term2,498 2,064
Net loans25,764 23,851
Nonaccrual Loans | Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year0 0
Last fiscal year0 141
Two years prior375 350
Three years prior346 0
Four years prior16 813
Prior903 14
Revolving884 1,012
Revolving Converted to Term2,242 2,064
Net loans4,766 4,394
Nonaccrual Loans | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year0 0
Last fiscal year0 5,212
Two years prior5,212 0
Three years prior0 0
Four years prior598 0
Prior0 0
Revolving49 49
Revolving Converted to Term0 0
Net loans5,859 5,261
Nonaccrual Loans | Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year0 0
Last fiscal year0 604
Two years prior603 272
Three years prior473 2,373
Four years prior2,373 62
Prior11,026 10,469
Revolving0 0
Revolving Converted to Term0 0
Net loans14,475 13,780
Nonaccrual Loans | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year0 0
Last fiscal year0 0
Two years prior0 0
Three years prior0 0
Four years prior0 0
Prior256 276
Revolving139 139
Revolving Converted to Term256 0
Net loans651 415
Nonaccrual Loans | Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year0 0
Last fiscal year0 0
Two years prior0 0
Three years prior0 0
Four years prior0 0
Prior0 0
Revolving13 1
Revolving Converted to Term0 0
Net loans13 1
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year347,528 1,420,600
Last fiscal year1,341,947 1,098,988
Two years prior1,065,066 751,286
Three years prior707,304 751,572
Four years prior702,821 851,145
Prior2,127,914 1,371,548
Revolving573,683 500,958
Revolving Converted to Term35,696 40,241
Net loans6,901,959 6,786,338
Pass | Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year22,837 96,230
Last fiscal year92,124 80,949
Two years prior71,592 65,506
Three years prior57,958 13,378
Four years prior12,334 17,972
Prior56,994 43,592
Revolving301,010 191,252
Revolving Converted to Term8,404 10,801
Net loans623,253 519,680
Pass | Paycheck Protection Program
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year113,041 312,356
Last fiscal year238,129 0
Two years prior0 0
Three years prior0 0
Four years prior0 0
Prior0 0
Revolving0 0
Revolving Converted to Term0 0
Net loans351,170 312,356
Pass | Commercial tax-exempt
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year0 53,225
Last fiscal year89,135 20,586
Two years prior38,215 40,451
Three years prior40,285 24,624
Four years prior24,410 102,133
Prior290,684 190,798
Revolving0 0
Revolving Converted to Term2,991 3,033
Net loans485,720 434,850
Pass | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year65,639 311,605
Last fiscal year264,428 462,144
Two years prior444,717 247,228
Three years prior248,987 308,437
Four years prior301,316 375,713
Prior1,022,447 657,563
Revolving90,477 126,544
Revolving Converted to Term14,471 16,190
Net loans2,452,482 2,505,424
Pass | Construction and land
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year6,774 43,042
Last fiscal year57,925 63,914
Two years prior73,762 31,434
Three years prior21,550 16,288
Four years prior16,262 2,230
Prior2,228 0
Revolving0 0
Revolving Converted to Term0 0
Net loans178,501 156,908
Pass | Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year138,273 603,414
Last fiscal year599,553 471,237
Two years prior436,633 366,390
Three years prior338,505 388,845
Four years prior348,499 352,330
Prior753,601 478,468
Revolving0 0
Revolving Converted to Term15 0
Net loans2,615,079 2,660,684
Pass | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year0 0
Last fiscal year0 0
Two years prior0 252
Three years prior0 0
Four years prior0 686
Prior1,367 553
Revolving59,919 64,985
Revolving Converted to Term9,815 10,217
Net loans71,101 76,693
Pass | Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year964 728
Last fiscal year653 158
Two years prior147 25
Three years prior19 0
Four years prior0 81
Prior593 574
Revolving122,277 118,177
Revolving Converted to Term0 0
Net loans124,653 119,743
Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year0 22,019
Last fiscal year18,574 16,264
Two years prior20,832 15,686
Three years prior6,250 30,135
Four years prior17,744 37,123
Prior84,757 61,537
Revolving4,064 4,211
Revolving Converted to Term251 262
Net loans152,472 187,237
Special Mention | Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year0 358
Last fiscal year321 2,413
Two years prior4,919 1,008
Three years prior952 674
Four years prior0 0
Prior2,588 2,688
Revolving3,764 3,911
Revolving Converted to Term251 262
Net loans12,795 11,314
Special Mention | Commercial tax-exempt
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year0 0
Last fiscal year0 0
Two years prior0 0
Three years prior0 0
Four years prior0 0
Prior2,787 2,806
Revolving0 0
Revolving Converted to Term0 0
Net loans2,787 2,806
Special Mention | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year0 21,661
Last fiscal year18,253 13,851
Two years prior15,913 12,382
Three years prior2,317 29,461
Four years prior17,744 37,123
Prior79,382 56,043
Revolving0 0
Revolving Converted to Term0 0
Net loans133,609 170,521
Special Mention | Construction and land
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year0 0
Last fiscal year0 0
Two years prior0 2,296
Three years prior2,981 0
Four years prior0 0
Prior0 0
Revolving0 0
Revolving Converted to Term0 0
Net loans2,981 2,296
Special Mention | Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year0 0
Last fiscal year0 0
Two years prior0 0
Three years prior0 0
Four years prior0 0
Prior0 0
Revolving300 300
Revolving Converted to Term0 0
Net loans300 300
Accruing Classified
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year4,600 4,345
Last fiscal year7,578 49,860
Two years prior49,776 20,247
Three years prior30,205 0
Four years prior13,446 0
Prior16,872 16,984
Revolving7,709 8,683
Revolving Converted to Term5,944 6,764
Net loans136,130 106,883
Accruing Classified | Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year4,600 1,184
Last fiscal year1,992 223
Two years prior195 6,247
Three years prior6,241 0
Four years prior659 0
Prior63 110
Revolving7,709 8,683
Revolving Converted to Term5,944 6,508
Net loans27,403 22,955
Accruing Classified | Commercial tax-exempt
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year0
Last fiscal year0
Two years prior0
Three years prior0
Four years prior0
Prior4,503
Revolving0
Revolving Converted to Term0
Net loans4,503
Accruing Classified | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year0 3,161
Last fiscal year5,586 49,637
Two years prior49,581 14,000
Three years prior23,964 0
Four years prior12,787 0
Prior13,809 9,371
Revolving0 0
Revolving Converted to Term0 0
Net loans105,727 76,169
Accruing Classified | Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year0 0
Last fiscal year0 0
Two years prior0 0
Three years prior0 0
Four years prior0 0
Prior3,000 3,000
Revolving0 0
Revolving Converted to Term0 0
Net loans3,000 3,000
Accruing Classified | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Current fiscal year0
Last fiscal year0
Two years prior0
Three years prior0
Four years prior0
Prior0
Revolving0
Revolving Converted to Term256
Net loans256
Accruing Classified | Nonaccrual Loans
Financing Receivable, Credit Quality Indicator [Line Items]
Net loans25,764 23,851
Accruing Classified | Nonaccrual Loans | Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Net loans4,766 4,394
Accruing Classified | Nonaccrual Loans | Paycheck Protection Program
Financing Receivable, Credit Quality Indicator [Line Items]
Net loans0 0
Accruing Classified | Nonaccrual Loans | Commercial tax-exempt
Financing Receivable, Credit Quality Indicator [Line Items]
Net loans0 0
Accruing Classified | Nonaccrual Loans | Commercial real estate
Financing Receivable, Credit Quality Indicator [Line Items]
Net loans5,859 5,261
Accruing Classified | Nonaccrual Loans | Construction and land
Financing Receivable, Credit Quality Indicator [Line Items]
Net loans0 0
Accruing Classified | Nonaccrual Loans | Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Net loans14,475 13,780
Accruing Classified | Nonaccrual Loans | Home equity
Financing Receivable, Credit Quality Indicator [Line Items]
Net loans651 415
Accruing Classified | Nonaccrual Loans | Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Net loans $ 13 $ 1

Loan Portfolio and Credit Qua_9

Loan Portfolio and Credit Quality - Impaired Loans With and Without Related Allowance (Details) - USD ($) $ in Thousands3 Months Ended12 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Recorded Investment
With no related allowance recorded: $ 18,871 $ 24,574 $ 22,364
With an allowance recorded:6,468 1,075 2,778
Total:25,339 25,649 25,142
Unpaid Principal Balance
With no related allowance recorded:19,209 25,504 22,841
With an allowance recorded:6,660 1,082 2,815
Total:25,869 26,586 25,656
Related Allowance734 259 400
Average Recorded Investment
With no related allowance recorded:19,823 20,207 24,063
With an allowance recorded:5,387 1,087 1,163
Total:25,210 21,294 25,226
Interest Income Recognized while Impaired
With no related allowance recorded:98 135 744
With an allowance recorded:2 6 21
Total:100 141 765
Commercial and industrial
Recorded Investment
With no related allowance recorded:3,806 555 2,262
With an allowance recorded:610 273 2,053
Total:4,416 828 4,315
Unpaid Principal Balance
With no related allowance recorded:3,880 632 2,307
With an allowance recorded:629 280 2,090
Total:4,509 912 4,397
Related Allowance541 175 279
Average Recorded Investment
With no related allowance recorded:3,594 667 2,512
With an allowance recorded:789 281 378
Total:4,383 948 2,890
Interest Income Recognized while Impaired
With no related allowance recorded:0 6 141
With an allowance recorded:0 0 1
Total:0 6 142
Paycheck Protection Program
Recorded Investment
With no related allowance recorded:0 0
With an allowance recorded:0 0
Total:0 0
Unpaid Principal Balance
With no related allowance recorded:0 0
With an allowance recorded:0 0
Total:0 0
Related Allowance0 0
Average Recorded Investment
With no related allowance recorded:0 0
With an allowance recorded:0 0
Total:0 0
Interest Income Recognized while Impaired
With no related allowance recorded:0 0
With an allowance recorded:0 0
Total:0 0
Commercial tax-exempt
Recorded Investment
With no related allowance recorded:0 0 0
With an allowance recorded:0 0 0
Total:0 0 0
Unpaid Principal Balance
With no related allowance recorded:0 0 0
With an allowance recorded:0 0 0
Total:0 0 0
Related Allowance0 0 0
Average Recorded Investment
With no related allowance recorded:0 0 302
With an allowance recorded:0 0 0
Total:0 0 302
Interest Income Recognized while Impaired
With no related allowance recorded:0 0 20
With an allowance recorded:0 0 0
Total:0 0 20
Commercial real estate
Recorded Investment
With no related allowance recorded:0 6,119 5,212
With an allowance recorded:5,261 0 50
Total:5,261 6,119 5,262
Unpaid Principal Balance
With no related allowance recorded:0 6,151 5,384
With an allowance recorded:5,434 0 50
Total:5,434 6,151 5,434
Related Allowance125 0 50
Average Recorded Investment
With no related allowance recorded:1,303 2,403 4,818
With an allowance recorded:3,958 0 23
Total:5,261 2,403 4,841
Interest Income Recognized while Impaired
With no related allowance recorded:0 9 33
With an allowance recorded:0 0 0
Total:0 9 33
Construction and land
Recorded Investment
With no related allowance recorded:0 0 0
With an allowance recorded:0 0 0
Total:0 0 0
Unpaid Principal Balance
With no related allowance recorded:0 0 0
With an allowance recorded:0 0 0
Total:0 0 0
Related Allowance0 0 0
Average Recorded Investment
With no related allowance recorded:0 0 0
With an allowance recorded:0 0 0
Total:0 0 0
Interest Income Recognized while Impaired
With no related allowance recorded:0 0 0
With an allowance recorded:0 0 0
Total:0 0 0
Residential
Recorded Investment
With no related allowance recorded:14,710 16,352 14,523
With an allowance recorded:341 532 419
Total:15,051 16,884 14,942
Unpaid Principal Balance
With no related allowance recorded:14,974 16,612 14,783
With an allowance recorded:341 532 419
Total:15,315 17,144 15,202
Related Allowance51 64 54
Average Recorded Investment
With no related allowance recorded:14,564 15,587 15,509
With an allowance recorded:384 535 498
Total:14,948 16,122 16,007
Interest Income Recognized while Impaired
With no related allowance recorded:90 117 534
With an allowance recorded:2 4 13
Total:92 121 547
Home equity
Recorded Investment
With no related allowance recorded:355 1,548 367
With an allowance recorded:256 270 256
Total:611 1,818 623
Unpaid Principal Balance
With no related allowance recorded:355 2,109 367
With an allowance recorded:256 270 256
Total:611 2,379 623
Related Allowance17 20 17
Average Recorded Investment
With no related allowance recorded:362 1,550 922
With an allowance recorded:256 271 264
Total:618 1,821 1,186
Interest Income Recognized while Impaired
With no related allowance recorded:8 3 16
With an allowance recorded:0 2 7
Total:8 5 23
Consumer and other
Recorded Investment
With no related allowance recorded:0 0 0
With an allowance recorded:0 0 0
Total:0 0 0
Unpaid Principal Balance
With no related allowance recorded:0 0 0
With an allowance recorded:0 0 0
Total:0 0 0
Related Allowance0 0 0
Average Recorded Investment
With no related allowance recorded:0 0 0
With an allowance recorded:0 0 0
Total:0 0 0
Interest Income Recognized while Impaired
With no related allowance recorded:0 0 0
With an allowance recorded:0 0 0
Total: $ 0 $ 0 $ 0

Loan Portfolio and Credit Qu_10

Loan Portfolio and Credit Quality - Loans Restructured (Details) $ in Thousands3 Months Ended
Mar. 31, 2021USD ($)loanMar. 31, 2020USD ($)loan
Financing Receivable, Troubled Debt Restructuring [Line Items]
Restructuring current quarter, number of loans processed | loan1 2
Restructuring current quarter, pre-modification recorded investment $ 220 $ 2,423
Restructuring Current Quarter, Post-modification recorded investment $ 220 $ 2,423
TDRs that defaulted that were restructured in prior twelve months, Number of Loans | loan0 0
TDRs that defaulted that were restructured in prior twelve months, Post-modification recorded investment $ 0 $ 0
Commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Restructuring current quarter, number of loans processed | loan1
Restructuring current quarter, pre-modification recorded investment $ 50
Restructuring Current Quarter, Post-modification recorded investment $ 50
TDRs that defaulted that were restructured in prior twelve months, Number of Loans | loan0
TDRs that defaulted that were restructured in prior twelve months, Post-modification recorded investment $ 0
Residential
Financing Receivable, Troubled Debt Restructuring [Line Items]
Restructuring current quarter, number of loans processed | loan1 1
Restructuring current quarter, pre-modification recorded investment $ 220 $ 2,373
Restructuring Current Quarter, Post-modification recorded investment $ 220 $ 2,373
TDRs that defaulted that were restructured in prior twelve months, Number of Loans | loan0 0
TDRs that defaulted that were restructured in prior twelve months, Post-modification recorded investment $ 0 $ 0

Loan Portfolio and Credit Qu_11

Loan Portfolio and Credit Quality - Loan Participation Amounts (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Financing Receivable, Impaired [Line Items]
Total loan participations serviced for others $ 371,570 $ 352,618
Total loans serviced for others146,080 168,110
Commercial and industrial
Financing Receivable, Impaired [Line Items]
Total loan participations serviced for others110,284 110,589
Commercial tax-exempt
Financing Receivable, Impaired [Line Items]
Total loan participations serviced for others22,845 17,604
Commercial real estate
Financing Receivable, Impaired [Line Items]
Total loan participations serviced for others136,019 130,551
Construction and land
Financing Receivable, Impaired [Line Items]
Total loan participations serviced for others102,422 93,874
Residential
Financing Receivable, Impaired [Line Items]
Total loans serviced for others $ 146,080 $ 168,110

Allowance for Loan Losses - Nar

Allowance for Loan Losses - Narrative (Details) - USD ($) $ in ThousandsDec. 31, 2019Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss [Line Items]
Reasonable and supportable period for estimating expected credit losses2 years
Straight line reversion period for estimating expected credit losses12 months
Allowance for loan losses $ 71,982 $ 74,010 $ 68,211 $ 81,238
Financing receivable, allowance for credit loss, period increase (decrease)(7,200)
Provision/(credit) for loan losses7,004 $ (16,962)
Reserve for unfunded loan commitments4,500
Off-balance sheet, credit loss, credit loss expense (reversal) $ 2,000
Adjustment
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for loan losses(20,385)
Off-balance sheet, credit loss, credit loss expense (reversal) $ 1,400

Allowance for Loan Losses - All

Allowance for Loan Losses - Allowance Rollforward (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan losses, beginning of period: $ 81,238 $ 71,982
Provision/(credit) for loan losses(7,004)16,962
Loans charged -off:(297)(528)
Recoveries on loans previously charged-off:73 180
Allowance for loan losses, end of period:74,010 68,211
Adjustment
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan losses, beginning of period:(20,385)
Adjusted Balance
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan losses, beginning of period:51,597
Commercial and industrial
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan losses, beginning of period:8,985 10,048
Provision/(credit) for loan losses2,017 1,245
Loans charged -off:(297)(518)
Recoveries on loans previously charged-off:39 45
Allowance for loan losses, end of period:10,744 10,255
Commercial and industrial | Adjustment
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan losses, beginning of period:(565)
Paycheck Protection Program
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan losses, beginning of period:159
Provision/(credit) for loan losses20
Loans charged -off:0
Recoveries on loans previously charged-off:0
Allowance for loan losses, end of period:179
Commercial tax-exempt
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan losses, beginning of period:2,550 6,016
Provision/(credit) for loan losses35 320
Loans charged -off:0 0
Recoveries on loans previously charged-off:0 0
Allowance for loan losses, end of period:2,585 1,927
Commercial tax-exempt | Adjustment
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan losses, beginning of period:(4,409)
Commercial real estate
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan losses, beginning of period:51,161 40,765
Provision/(credit) for loan losses(5,404)10,270
Loans charged -off:0 0
Recoveries on loans previously charged-off:0 0
Allowance for loan losses, end of period:45,757 36,580
Commercial real estate | Adjustment
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan losses, beginning of period:(14,455)
Construction and land
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan losses, beginning of period:4,041 5,119
Provision/(credit) for loan losses(788)2,748
Loans charged -off:0 0
Recoveries on loans previously charged-off:0 0
Allowance for loan losses, end of period:3,253 5,709
Construction and land | Adjustment
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan losses, beginning of period:(2,158)
Residential
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan losses, beginning of period:12,864 8,857
Provision/(credit) for loan losses(2,689)2,237
Loans charged -off:0 0
Recoveries on loans previously charged-off:3 0
Allowance for loan losses, end of period:10,178 11,779
Residential | Adjustment
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan losses, beginning of period:685
Home equity
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan losses, beginning of period:293 778
Provision/(credit) for loan losses(64)(72)
Loans charged -off:0 0
Recoveries on loans previously charged-off:0 132
Allowance for loan losses, end of period:229 303
Home equity | Adjustment
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan losses, beginning of period:(535)
Consumer and other
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan losses, beginning of period:1,185 399
Provision/(credit) for loan losses(131)214
Loans charged -off:0 (10)
Recoveries on loans previously charged-off:31 3
Allowance for loan losses, end of period: $ 1,085 1,658
Consumer and other | Adjustment
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for loan losses, beginning of period: $ 1,052

Allowance for Loan Losses - A_2

Allowance for Loan Losses - Allowance by Impairment Analysis Method (Details) - USD ($)Mar. 31, 2021Dec. 31, 2020Mar. 31, 2020Dec. 31, 2019
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually Evaluated for Impairment Recorded investment (loan balance) $ 25,339,000 $ 25,142,000
Individually Evaluated for Impairment Allowance for loan losses734,000 400,000
Collectively Evaluated for Impairment Recorded investment (loan balance)7,190,986,000 7,079,167,000
Collectively Evaluated for Impairment Allowance for loan losses73,276,000 80,838,000
Net loans7,216,325,000 7,104,309,000
Allowance for loan losses74,010,000 81,238,000 $ 68,211,000 $ 71,982,000
Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually Evaluated for Impairment Recorded investment (loan balance)4,416,000 4,315,000
Individually Evaluated for Impairment Allowance for loan losses541,000 279,000
Collectively Evaluated for Impairment Recorded investment (loan balance)663,801,000 554,028,000
Collectively Evaluated for Impairment Allowance for loan losses10,203,000 8,706,000
Net loans668,217,000 558,343,000
Allowance for loan losses10,744,000 8,985,000 10,255,000 10,048,000
Paycheck Protection Program
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually Evaluated for Impairment Recorded investment (loan balance)0 0
Individually Evaluated for Impairment Allowance for loan losses0 0
Collectively Evaluated for Impairment Recorded investment (loan balance)351,170,000 312,356,000
Collectively Evaluated for Impairment Allowance for loan losses179,000 159,000
Net loans351,170,000 312,356,000
Allowance for loan losses179,000 159,000
Commercial tax-exempt
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually Evaluated for Impairment Recorded investment (loan balance)0 0
Individually Evaluated for Impairment Allowance for loan losses0 0
Collectively Evaluated for Impairment Recorded investment (loan balance)488,507,000 442,159,000
Collectively Evaluated for Impairment Allowance for loan losses2,585,000 2,550,000
Net loans488,507,000 442,159,000
Allowance for loan losses2,585,000 2,550,000 1,927,000 6,016,000
Commercial real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually Evaluated for Impairment Recorded investment (loan balance)5,261,000 5,262,000
Individually Evaluated for Impairment Allowance for loan losses125,000 50,000
Collectively Evaluated for Impairment Recorded investment (loan balance)2,692,416,000 2,752,113,000
Collectively Evaluated for Impairment Allowance for loan losses45,632,000 51,111,000
Net loans2,697,677,000 2,757,375,000
Allowance for loan losses45,757,000 51,161,000 36,580,000 40,765,000
Construction and land
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually Evaluated for Impairment Recorded investment (loan balance)0 0
Individually Evaluated for Impairment Allowance for loan losses0 0
Collectively Evaluated for Impairment Recorded investment (loan balance)181,482,000 159,204,000
Collectively Evaluated for Impairment Allowance for loan losses3,253,000 4,041,000
Net loans181,482,000 159,204,000
Allowance for loan losses3,253,000 4,041,000 5,709,000 5,119,000
Residential
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually Evaluated for Impairment Recorded investment (loan balance)15,051,000 14,942,000
Individually Evaluated for Impairment Allowance for loan losses51,000 54,000
Collectively Evaluated for Impairment Recorded investment (loan balance)2,617,503,000 2,662,522,000
Collectively Evaluated for Impairment Allowance for loan losses10,127,000 12,810,000
Net loans2,632,554,000 2,677,464,000
Allowance for loan losses10,178,000 12,864,000 11,779,000 8,857,000
Home equity
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually Evaluated for Impairment Recorded investment (loan balance)611,000 623,000
Individually Evaluated for Impairment Allowance for loan losses17,000 17,000
Collectively Evaluated for Impairment Recorded investment (loan balance)71,141,000 76,741,000
Collectively Evaluated for Impairment Allowance for loan losses212,000 276,000
Net loans71,752,000 77,364,000
Allowance for loan losses229,000 293,000 303,000 778,000
Consumer and other
Financing Receivable, Allowance for Credit Loss [Line Items]
Individually Evaluated for Impairment Recorded investment (loan balance)0 0
Individually Evaluated for Impairment Allowance for loan losses0 0
Collectively Evaluated for Impairment Recorded investment (loan balance)124,966,000 120,044,000
Collectively Evaluated for Impairment Allowance for loan losses1,085,000 1,185,000
Net loans124,966,000 120,044,000
Allowance for loan losses1,085,000 1,185,000 $ 1,658,000 $ 399,000
Financial Asset Acquired with Credit Deterioration
Financing Receivable, Allowance for Credit Loss [Line Items]
Net loans $ 0 $ 0

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities - Derivatives Fair Value and Balance Sheet Classification (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Other assets
Derivatives, Fair Value [Line Items]
Asset derivatives $ 53,710 $ 83,304
Other assets | Derivatives designated as hedging instruments: | Interest rate swaps
Derivatives, Fair Value [Line Items]
Asset derivatives0 0
Other assets | Derivatives not designated as hedging instruments: | Interest rate swaps
Derivatives, Fair Value [Line Items]
Asset derivatives53,682 83,255
Other assets | Derivatives not designated as hedging instruments: | Risk participation agreements
Derivatives, Fair Value [Line Items]
Asset derivatives28 49
Other liabilities
Derivatives, Fair Value [Line Items]
Liability derivatives54,897 85,193
Other liabilities | Derivatives designated as hedging instruments: | Interest rate swaps
Derivatives, Fair Value [Line Items]
Liability derivatives157 228
Other liabilities | Derivatives not designated as hedging instruments: | Interest rate swaps
Derivatives, Fair Value [Line Items]
Liability derivatives54,529 84,590
Other liabilities | Derivatives not designated as hedging instruments: | Risk participation agreements
Derivatives, Fair Value [Line Items]
Liability derivatives $ 211 $ 375

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities - Effect of Derivative Instruments on Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in OCI on derivatives $ 8 $ 0
Amount of gain or (loss) reclassified from accumulated OCI into income(63)0
Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in OCI on derivatives8 0
Interest income/(expense) | Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) reclassified from accumulated OCI into income $ (63) $ 0

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities - Effect of Derivative Instruments on Statement of Operations (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Interest rate swaps | Interest income/(expense)
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in income on cash flow hedging relationships $ (63) $ 0

Derivatives and Hedging Activ_6

Derivatives and Hedging Activities - Collateral With Counterparties (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Dec. 31, 2020
Derivative [Line Items]
Pledged securities value $ 54.3 $ 86.7
Interest rate swap, term of contract18 months
Federal home loan bank, advances $ 100
Federal home loan bank, interest rate0.48%
Interest rate swaps
Derivative [Line Items]
Notional amount $ 100
Not Designated as Hedging Instrument | Interest rate swaps
Derivative [Line Items]
Derivative collateral51.7 85.6
Notional amount $ 1,700 $ 1,700

Derivatives and Hedging Activ_7

Derivatives and Hedging Activities - Non-Designated Hedges (Details)Mar. 31, 2021USD ($)derivativeContractDec. 31, 2020USD ($)derivativeContract
Interest rate swaps
Derivative [Line Items]
Notional amount $ 100,000,000
Interest rate swaps | Not Designated as Hedging Instrument
Derivative [Line Items]
Notional amount1,700,000,000 $ 1,700,000,000
Foreign exchange contracts | Not Designated as Hedging Instrument
Derivative [Line Items]
Notional amount0 0
Risk participation agreements | Not Designated as Hedging Instrument
Derivative [Line Items]
Notional amount $ 57,000,000 $ 57,400,000
Number of contracts | derivativeContract7 7
Other Contract | Not Designated as Hedging Instrument
Derivative [Line Items]
Notional amount $ 30,200,000 $ 30,200,000
Number of contracts | derivativeContract5 5

Derivatives and Hedging Activ_8

Derivatives and Hedging Activities - Derivatives not designated as hedges, effect on statement of operations (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Total $ 632 $ (757)
Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Total488 (555)
Risk participation agreements
Derivative Instruments, Gain (Loss) [Line Items]
Total $ 144 $ (202)

Income Taxes - Components of In

Income Taxes - Components of Income Tax Expense (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Income from continuing operations:
Income before income taxes $ 16,728 $ 908
Income tax expense6,076 102
Net income/(loss) before attribution to noncontrolling interests $ 10,652 $ 806
Effective tax rate36.30%11.20%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Income Tax Examination [Line Items]
Effective tax rate36.30%11.20%
Income tax expense/(benefit) $ 6,076 $ 102
SVB
Income Tax Examination [Line Items]
Income tax expense/(benefit) $ 3,000

Noncontrolling Interests - Narr

Noncontrolling Interests - Narrative (Details) - USD ($)3 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Noncontrolling Interest [Abstract]
Net income attributable to noncontrolling interests $ 0 $ (6,000)
Redeemable noncontrolling interests0 $ 0
Noncontrolling interest included in permanent shareholders' equity $ 0 $ 0

Noncontrolling Interests - Rede

Noncontrolling Interests - Redeemable Noncontrolling Interests Rollforward (Details) - USD ($)3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Redeemable noncontrolling interests at beginning of period $ 0
Net income attributable to noncontrolling interests0 $ (6,000)
Redeemable noncontrolling interests at end of period0
Redeemable noncontrolling interests
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Redeemable noncontrolling interests at beginning of period0 1,383,000
Net income attributable to noncontrolling interests0 6,000
Distributions0 (6,000)
Purchases/(sales) of ownership interests0 (64,000)
Amortization of equity compensation7,000 8,000
Adjustments to fair value(7,000)(1,327,000)
Redeemable noncontrolling interests at end of period $ 0 $ 0

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income - Summary of Amounts Reclassified (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pre-tax gain/(loss) $ (5,416) $ (15,825)
Tax (expense)/benefit(6,076)(102)
Total reclassifications for the period, net of tax(44)0
Hedges related to deposits:
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total reclassifications for the period, net of tax(44)
Reclassification out of Accumulated Other Comprehensive Income | Hedges related to deposits:
Accumulated Other Comprehensive Income (Loss) [Line Items]
Pre-tax gain/(loss)(63)0
Tax (expense)/benefit $ 19 $ 0

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income - Components of AOCI (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance $ 868,008 $ 819,018
Other comprehensive income/(loss) before reclassifications(17,987)14,489
Reclassified from other comprehensive income/(loss)44 0
Other comprehensive income/(loss), net(17,943)14,489
Ending Balance858,423 828,792
Unrealized gain/(loss) on Investment securities available-for-sale
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance32,672 8,435
Other comprehensive income/(loss) before reclassifications(17,993)14,489
Reclassified from other comprehensive income/(loss)0
Other comprehensive income/(loss), net(17,993)14,489
Ending Balance14,679 22,924
Unrealized gain/(loss) on cash flow hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance(162)0
Other comprehensive income/(loss) before reclassifications6 0
Reclassified from other comprehensive income/(loss)44
Other comprehensive income/(loss), net50 0
Ending Balance(112)0
Unrealized gain/(loss) on other
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance(825)(860)
Other comprehensive income/(loss) before reclassifications0 0
Reclassified from other comprehensive income/(loss)0
Other comprehensive income/(loss), net0 0
Ending Balance(825)(860)
Accumulated other comprehensive income/(loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance31,685 7,575
Ending Balance $ 13,742 $ 22,064

Restructuring (Details)

Restructuring (Details) - USD ($)3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring charges $ 0 $ 0
Restructuring Reserve [Roll Forward]
Accrued Charges at beginning of period789,000 1,315,000
Costs paid0 (434,000)
Accrued Charges at end of period789,000 881,000
Severance Charges
Restructuring Reserve [Roll Forward]
Accrued Charges at beginning of period0 526,000
Costs paid0 (434,000)
Accrued Charges at end of period0 92,000
Other Associated Costs
Restructuring Reserve [Roll Forward]
Accrued Charges at beginning of period789,000 789,000
Costs paid0 0
Accrued Charges at end of period $ 789,000 $ 789,000

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Fees and other income:
Revenue from contracts with customers $ 20,499 $ 21,048
Other non-interest income not within the scope of ASC 6065,671 473
Total fees and other income26,170 21,521
Wealth management and trust fees
Fees and other income:
Revenue from contracts with customers19,136 18,371
Investment management fees
Fees and other income:
Revenue from contracts with customers489 1,925
Other Income
Fees and other income:
Revenue from contracts with customers874 $ 752
Other liabilities
Revenues from External Customers and Long-Lived Assets [Line Items]
Deferred revenue $ 6,300 $ 6,100

Lease Accounting - Narrative (D

Lease Accounting - Narrative (Details) $ in Thousands3 Months Ended12 Months Ended
Mar. 31, 2021USD ($)leaseDec. 31, 2019Dec. 31, 2020USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounting Standards Update [Extensible List]us-gaap:AccountingStandardsUpdate201613Memberus-gaap:AccountingStandardsUpdate201613Member
Lease liabilities | $ $ 107,143 $ 112,339
ROU assets | $ $ 93,224 $ 97,859
Building
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number real estate leases for office locations | lease36
Building | Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Term of contract5 years
Renewal term5 years
Building | Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Term of contract15 years
Renewal term10 years
Equipment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of equipment leases classified as operating | lease27
Equipment | Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Term of contract3 years
Equipment | Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Term of contract5 years

Lease Accounting - Schedule of

Lease Accounting - Schedule of Lease Cost (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Leases [Abstract]
Operating lease cost $ 5,007 $ 4,601
Short-term lease cost58 48
Variable lease cost3 (9)
Less: Sublease income(38)(28)
Total operating lease cost $ 5,030 $ 4,612

Lease Accounting - Other Inform

Lease Accounting - Other Information (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Leases [Abstract]
Operating cash flows from operating leases $ 5,222 $ 5,100
ROU assets obtained in exchange for new operating lease liabilities $ 1,541 $ 443
Weighted-average remaining lease term for operating leases7 years 6 months7 years 10 months 24 days
Weighted-average discount rate for operating leases3.00%3.20%

Lease Accounting - Schedule o_2

Lease Accounting - Schedule of Minimum Lease Payments Due (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Remainder of 2021 $ 15,814
202221,334
202319,846
202413,884
202512,541
Thereafter39,918
Total future minimum lease payments123,337
Less: Amounts representing interest(16,194)
Present value of net future minimum lease payments $ 107,143 $ 112,339

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Details) - USD ($) $ in ThousandsDec. 31, 2019Mar. 31, 2021Dec. 31, 2019Dec. 31, 2020Mar. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for loan losses $ (71,982) $ (74,010) $ (71,982) $ (81,238) $ (68,211)
Off-balance sheet, credit loss, credit loss expense (reversal)2,000
Increase in retained earnings819,018 $ 858,423 $ 819,018 $ 868,008 $ 828,792
Accounting Standards Update [Extensible List]us-gaap:AccountingStandardsUpdate201613Memberus-gaap:AccountingStandardsUpdate201613Member
Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for loan losses20,385 $ 20,385
Off-balance sheet, credit loss, credit loss expense (reversal)1,400
Increase in retained earnings[1] $ 13,492 $ 13,492
[1]Impact due to the adoption of ASU 2016-13 Financial Instruments (Topic 326) (“ASU 2016-13”). See Part I. Item 1. “Notes to Unaudited Consolidated Financial Statements - Note 15: Recent Accounting Pronouncements.”