Northwest Bancshares, Inc 8-K, filed Jul 25, 2022

Northwest Bancshares, Inc. (NWBI)

8-K 2022-07-25 For: 2022-07-25

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Added on April 04, 2026

About this 8-K

Northwest Bancshares, Inc filed this 8-K on July 25, 2022.

Items reported

Item 2.02: Financial results
Item 9.01: Financial statements and exhibits

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Exhibit No.						Description

99.1						Press release dated July 25, 2022
104						Press release dated Cover Page Interactive Data File (embedded within the Inline XBRL document)


	June 30, 2022			December 31, 2021		June 30, 2021
Assets
Cash and cash equivalents	$	504,532		1,279,259		857,152


Marketable securities available-for-sale (amortized cost of $1,516,743, $1,565,002 and $1,593,813, respectively)	1,364,743			1,548,592		1,599,024
Marketable securities held-to-maturity (fair value of $835,565, $751,513 and $632,620, respectively)	923,180			768,154		639,424
Total cash and cash equivalents and marketable securities	2,792,455			3,596,005		3,095,600

Residential mortgage loans held-for-sale	31,153			25,056		29,055
Residential mortgage loans	3,255,622			2,969,564		2,925,496
Home equity loans	1,280,492			1,319,931		1,376,228
Consumer loans	2,002,545			1,838,748		1,745,231
Commercial real estate loans	2,876,176			3,015,484		3,215,189
Commercial loans	986,836			847,609		1,018,781
Total loans receivable	10,432,824			10,016,392		10,309,980
Allowance for credit losses	(98,355)			(102,241)		(117,330)
Loans receivable, net	10,334,469			9,914,151		10,192,650


FHLB stock, at cost	13,362			14,184		23,287
Accrued interest receivable	27,708			25,599		27,585
Real estate owned, net	1,205			873		1,353
Premises and equipment, net	146,869			156,524		156,076
Bank-owned life insurance	254,109			256,213		253,539
Goodwill	380,997			380,997		380,997
Other intangible assets, net	10,538			12,836		15,362
Other assets	192,983			144,126		151,607
Total assets	$	14,154,695		14,501,508		14,298,056
Liabilities and shareholders’ equity
Liabilities
Noninterest-bearing demand deposits	$	3,058,249		3,099,526		3,002,632
Interest-bearing demand deposits	2,858,691			2,940,442		2,824,219
Money market deposit accounts	2,631,712			2,629,882		2,538,607
Savings deposits	2,362,725			2,303,760		2,262,152
Time deposits	1,155,878			1,327,555		1,463,098
Total deposits	12,067,255			12,301,165		12,090,708


Borrowed funds	130,490			139,093		133,876
Subordinated debt	113,666			123,575		123,501
Junior subordinated debentures	129,184			129,054		128,924
Advances by borrowers for taxes and insurance	55,622			44,582		53,608
Accrued interest payable	1,725			1,804		1,820
Other liabilities	162,214			178,664		190,258
Total liabilities	12,660,156			12,917,937		12,722,695
Shareholders’ equity
Preferred stock, $0.01 par value: 50,000,000 shares authorized, no shares issued	—			—		—
Common stock, $0.01 par value: 500,000,000 shares authorized, 126,881,766, 126,612,183 and 127,907,885 shares issued and outstanding, respectively	1,269			1,266		1,279
Additional paid-in capital	1,015,349			1,010,405		1,025,174
Retained earnings	620,551			609,529		595,100

Accumulated other comprehensive loss	(142,630)			(37,629)		(46,192)
Total shareholders’ equity	1,494,539			1,583,571		1,575,361
Total liabilities and shareholders’ equity	$	14,154,695		14,501,508		14,298,056

Equity to assets	10.56		%	10.92	%	11.02	%
Tangible common equity to assets*	8.01		%	8.43	%	8.48	%
Book value per share	$	11.78		12.51		12.32
Tangible book value per share*	$	8.69		9.40		9.22
Closing market price per share	$	12.80		14.16		13.64
Full time equivalent employees	2,188			2,332		2.393
Number of banking offices	150			170		170


	Quarter ended
	June 30, 2022			March 31, 2022		December 31, 2021		September 30, 2021		June 30, 2021

Interest income:
Loans receivable	$	95,574		88,174		95,295		97,475		95,255
Mortgage-backed securities	7,158			6,360		5,743		5,840		5,680
Taxable investment securities	715			677		640		649		693
Tax-free investment securities	683			674		688		628		594
FHLB stock dividends	82			81		82		71		138
Interest-earning deposits	1,684			467		467		352		192
Total interest income	105,896			96,433		102,915		105,015		102,552
Interest expense:
Deposits	3,341			3,751		4,295		4,540		4,773
Borrowed funds	2,290			2,059		1,964		2,056		2,050
Total interest expense	5,631			5,810		6,259		6,596		6,823
Net interest income	100,265			90,623		96,656		98,419		95,729
Provision for credit losses	2,629			(1,481)		(1,909)		(4,354)		—
Net interest income after provision for credit losses	97,636			92,104		98,565		102,773		95,729
Noninterest income:
Loss on sale of investments	(3)			(2)		(4)		(46)		(105)

Service charges and fees	13,673			13,067		13,500		13,199		12,744


Trust and other financial services income	7,461			7,012		6,820		7,182		7,435
Insurance commission income	—			—		—		44		1,043
Gain/(loss) on real estate owned, net	291			(29)		71		247		166
Income from bank-owned life insurance	2,008			1,983		1,343		1,332		1,639
Mortgage banking income	2,157			1,465		2,120		3,941		3,811
Gain on sale of insurance business	—			—		—		—		25,327
Other operating income	4,861			2,244		3,192		3,287		2,648
Total noninterest income	30,448			25,740		27,042		29,186		54,708
Noninterest expense:
Compensation and employee benefits	48,073			46,917		48,691		49,063		48,894
Premises and occupancy costs	7,280			7,797		7,104		7,745		7,410
Office operations	3,162			3,383		3,144		4,143		3,317
Collections expense	403			520		602		411		303
Processing expenses	12,947			12,548		13,639		13,517		15,151
Marketing expenses	2,047			2,128		2,054		2,102		2,101
Federal deposit insurance premiums	1,130			1,129		1,131		1,184		1,353
Professional services	3,333			2,573		4,513		4,295		4,231
Amortization of intangible assets	1,115			1,183		1,205		1,321		1,433
Real estate owned expense	72			37		44		94		85
Merger, asset disposition and restructuring expense	—			1,374		2,812		—		632
Other expenses	5,245			2,355		1,346		2,227		1,422
Total noninterest expense	84,807			81,944		86,285		86,102		86,332
Income before income taxes	43,277			35,900		39,322		45,857		64,105
Income tax expense	9,851			7,613		9,266		10,794		15,138
Net income	$	33,426		28,287		30,056		35,063		48,967

Basic earnings per share	$	0.26		0.22		0.24		0.28		0.38
Diluted earnings per share	$	0.26		0.22		0.24		0.27		0.38




Annualized return on average equity	8.90		%	7.17	%	7.65	%	8.86	%	12.58	%
Annualized return on average assets	0.94		%	0.80	%	0.82	%	0.97	%	1.37	%
Annualized return on tangible common equity *	12.16		%	10.14	%	10.02	%	11.92	%	16.66	%

Efficiency ratio **	64.03		%	68.22	%	66.51	%	66.44	%	67.35	%
Annualized noninterest expense to average assets ***	2.35		%	2.23	%	2.25	%	2.33	%	2.35	%


	Six months ended June 30,
	2022			2021
Interest income:
Loans receivable	$	183,748		197,573
Mortgage-backed securities	13,518			9,880
Taxable investment securities	1,392			1,327
Tax-free investment securities	1,357			1,169
FHLB stock dividends	163			254
Interest-earning deposits	2,151			375
Total interest income	202,329			210,578
Interest expense:
Deposits	7,092			10,287
Borrowed funds	4,349			4,104
Total interest expense	11,441			14,391
Net interest income	190,888			196,187
Provision for credit losses	1,148			(5,620)
Net interest income after provision for credit losses	189,740			201,807
Noninterest income:
Loss on sale of investments	(5)			(126)

Service charges and fees	26,740			25,138


Trust and other financial services income	14,473			13,919
Insurance commission income	—			3,589
Gain on real estate owned, net	262			124
Income from bank-owned life insurance	3,991			3,375
Mortgage banking income	3,622			9,831
Gain on sale of insurance business	—			25,327
Other operating income	7,105			5,484
Total noninterest income	56,188			86,661
Noninterest expense:
Compensation and employee benefits	94,990			96,133
Premises and occupancy costs	15,077			16,224
Office operations	6,545			6,482
Collections expense	923			919
Processing expenses	25,495			28,607
Marketing expenses	4,175			4,081
Federal deposit insurance premiums	2,259			2,660
Professional services	5,906			8,813
Amortization of intangible assets	2,298			3,027
Real estate owned expense	109			160
Merger, asset disposition and restructuring expense	1,374			641
Other expenses	7,600			4,776
Total noninterest expense	166,751			172,523
Income before income taxes	79,177			115,945
Income tax expense	17,464			26,741
Net income	$	61,713		89,204

Basic earnings per share	$	0.49		0.70
Diluted earnings per share	$	0.49		0.70




Annualized return on average equity	8.01		%	11.61	%
Annualized return on average assets	0.87		%	1.27	%
Annualized return on tangible common equity *	11.28		%	15.26	%

Efficiency ratio **	66.00		%	65.57	%
Annualized noninterest expense to average assets ***	2.29		%	2.40	%


	June 30, 2022			March 31, 2022		December 31, 2021		September 30, 2021		June 30, 2021
Nonaccrual loans current:
Residential mortgage loans	$	1,970		1,884		1,354		2,015		189
Home equity loans	1,337			1,376		1,212		1,267		170

Consumer loans	976			1,148		1,336		1,465		188
Commercial real estate loans	60,537			79,810		106,233		111,075		138,820
Commercial loans	5,270			6,060		6,098		17,021		17,545
Total nonaccrual loans current	$	70,090		90,278		116,233		132,843		156,912
Nonaccrual loans delinquent 30 days to 59 days:
Residential mortgage loans	$	2		760		244		99		68
Home equity loans	172			195		223		328		229

Consumer loans	158			190		241		152		230
Commercial real estate loans	911			333		239		205		1,589
Commercial loans	358			4		53		102		406
Total nonaccrual loans delinquent 30 days to 59 days	$	1,601		1,482		1,000		886		2,522
Nonaccrual loans delinquent 60 days to 89 days:
Residential mortgage loans	$	199		830		1,163		527		207
Home equity loans	566			371		61		142		310

Consumer loans	226			280		292		291		297
Commercial real estate loans	630			—		364		419		198
Commercial loans	73			—		218		170		21
Total nonaccrual loans delinquent 60 days to 89 days	$	1,694		1,481		2,098		1,549		1,033
Nonaccrual loans delinquent 90 days or more:
Residential mortgage loans	$	5,445		3,976		7,641		8,069		10,007
Home equity loans	2,081			2,968		4,262		4,745		6,256

Consumer loans	1,942			1,782		2,069		2,184		2,341
Commercial real estate loans	14,949			21,399		24,063		25,562		23,564
Commercial loans	583			795		1,105		1,104		4,126
Total nonaccrual loans delinquent 90 days or more	$	25,000		30,920		39,140		41,664		46,294
Total nonaccrual loans	$	98,385		124,161		158,471		176,942		206,761
Total nonaccrual loans	$	98,385		124,161		158,471		176,942		206,761
Loans 90 days past due and still accruing	379			420		331		386		302
Nonperforming loans	98,764			124,581		158,802		177,328		207,063
Real estate owned, net	1,205			929		873		809		1,353
Nonperforming assets	$	99,969		125,510		159,675		178,137		208,416
Nonaccrual troubled debt restructuring *	$	37,647		16,015		17,216		12,858		8,951
Accruing troubled debt restructuring	16,590			12,686		13,072		13,664		18,480
Total troubled debt restructuring	$	54,237		28,701		30,288		26,522		27,431

Nonperforming loans to total loans	0.95		%	1.23	%	1.59	%	1.74	%	2.01	%
Nonperforming assets to total assets	0.71		%	0.87	%	1.10	%	1.24	%	1.46	%
Allowance for credit losses to total loans	0.94		%	0.98	%	1.02	%	1.08	%	1.14	%
Allowance for total loans excluding PPP loan balances	0.95		%	0.98	%	1.03	%	1.09	%	1.17	%
Allowance for credit losses to nonperforming loans	99.59		%	79.70	%	64.38	%	61.90	%	56.66	%


Contact:			William W. Harvey, Jr., Chief Financial Officer and Interim President and Chief Executive Officer (814) 726-2140 Jeffrey J. Maddigan, Treasurer and Executive Vice President of Finance and Accounting (814) 726-2140


At June 30, 2022	Pass		Special mention *	Substandard **	Doubtful	Loss	Loans receivable
Personal Banking:
Residential mortgage loans	$	3,273,117	—	13,658	—	—	3,286,775
Home equity loans	1,275,124		—	5,368	—	—	1,280,492
Consumer loans	1,998,863		—	3,682	—	—	2,002,545
Total Personal Banking	6,547,104		—	22,708	—	—	6,569,812
Commercial Banking:
Commercial real estate loans	2,600,207		51,540	224,429	—	—	2,876,176
Commercial loans	954,129		2,468	30,239	—	—	986,836
Total Commercial Banking	3,554,336		54,008	254,668	—	—	3,863,012
Total loans	$	10,101,440	54,008	277,376	—	—	10,432,824
At March 31, 2022
Personal Banking:
Residential mortgage loans	$	3,108,366	—	13,523	—	—	3,121,889
Home equity loans	1,280,342		—	6,178	—	—	1,286,520
Consumer loans	1,892,162		—	3,819	—	—	1,895,981
Total Personal Banking	6,280,870		—	23,520	—	—	6,304,390
Commercial Banking:
Commercial real estate loans	2,633,808		62,091	263,994	—	—	2,959,893
Commercial loans	839,125		3,277	32,349	—	—	874,751
Total Commercial Banking	3,472,933		65,368	296,343	—	—	3,834,644
Total loans	$	9,753,803	65,368	319,863	—	—	10,139,034
At December 31, 2021
Personal Banking:
Residential mortgage loans	$	2,978,080	—	16,540	—	—	2,994,620
Home equity loans	1,312,820		—	7,111	—	—	1,319,931
Consumer loans	1,834,478		—	4,270	—	—	1,838,748
Total Personal Banking	6,125,378		—	27,921	—	—	6,153,299
Commercial Banking:
Commercial real estate loans	2,639,676		74,123	301,685	—	—	3,015,484
Commercial loans	808,323		5,730	33,556	—	—	847,609
Total Commercial Banking	3,447,999		79,853	335,241	—	—	3,863,093
Total loans	$	9,573,377	79,853	363,162	—	—	10,016,392
At September 30, 2021
Personal Banking:
Residential mortgage loans	$	2,972,489	—	17,032	—	—	2,989,521
Home equity loans	1,342,479		—	7,869	—	—	1,350,348
Consumer loans	1,812,360		—	4,476	—	—	1,816,836
Total Personal Banking	6,127,328		—	29,377	—	—	6,156,705
Commercial Banking:
Commercial real estate loans	2,799,592		63,034	299,925	—	—	3,162,551
Commercial loans	813,665		10,976	55,071	—	—	879,712
Total Commercial Banking	3,613,257		74,010	354,996	—	—	4,042,263
Total loans	$	9,740,585	74,010	384,373	—	—	10,198,968
At June 30, 2021
Personal Banking:
Residential mortgage loans	$	2,937,418	—	17,133	—	—	2,954,551
Home equity loans	1,367,765		—	8,463	—	—	1,376,228
Consumer loans	1,741,872		—	3,359	—	—	1,745,231
Total Personal Banking	6,047,055		—	28,955	—	—	6,076,010
Commercial Banking:
Commercial real estate loans	2,781,734		73,167	360,288	—	—	3,215,189
Commercial loans	943,665		11,266	63,850	—	—	1,018,781
Total Commercial Banking	3,725,399		84,433	424,138	—	—	4,233,970
Total loans	$	9,772,454	84,433	453,093	—	—	10,309,980


	Quarter ended
	June 30, 2022					March 31, 2022					December 31, 2021					September 30, 2021					June 30, 2021
	Average balance		Interest	Avg. yield/ cost (i)		Average balance		Interest	Avg. yield/ cost (i)		Average balance		Interest	Avg. yield/ cost (i)		Average balance		Interest	Avg. yield/ cost (i)		Average balance		Interest	Avg. yield/ cost (i)
Assets:
Interest-earning assets:
Residential mortgage loans	$	3,171,469	27,327	3.45	%	$	2,980,788	25,542	3.43	%	$	2,977,942	25,269	3.39	%	$	2,959,794	25,398	3.43	%	$	2,935,034	25,609	3.49	%
Home equity loans	1,277,440		11,961	3.76	%	1,293,986		11,472	3.60	%	1,328,553		11,750	3.51	%	1,356,131		11,993	3.51	%	1,380,794		12,232	3.55	%
Consumer loans	1,880,769		15,777	3.36	%	1,799,037		14,907	3.36	%	1,756,620		15,514	3.50	%	1,728,563		16,220	3.72	%	1,589,739		14,555	3.67	%
Commercial real estate loans	2,915,750		31,844	4.32	%	3,000,204		29,757	3.97	%	3,113,924		34,062	4.28	%	3,205,839		35,305	4.31	%	3,257,810		33,349	4.05	%
Commercial loans	912,454		9,090	3.94	%	824,770		6,897	3.34	%	855,998		9,154	4.18	%	975,603		9,096	3.65	%	1,133,969		9,978	3.48	%
Total loans receivable (a) (b) (d)	10,157,882		95,999	3.79	%	9,898,785		88,575	3.63	%	10,033,037		95,749	3.79	%	10,225,930		98,012	3.80	%	10,297,346		95,723	3.73	%
Mortgage-backed securities (c)	1,952,375		7,158	1.47	%	1,945,173		6,360	1.31	%	1,894,683		5,743	1.21	%	1,832,876		5,840	1.27	%	1,756,227		5,680	1.29	%
Investment securities (c) (d)	376,935		1,590	1.69	%	373,694		1,540	1.65	%	358,558		1,535	1.71	%	348,619		1,466	1.68	%	364,414		1,466	1.61	%
FHLB stock, at cost	13,428		82	2.44	%	13,870		81	2.38	%	14,459		82	2.25	%	21,607		71	1.31	%	23,107		138	2.40	%
Other interest-earning deposits	846,142		1,684	0.79	%	1,218,960		467	0.15	%	1,168,449		467	0.16	%	905,130		352	0.15	%	810,741		192	0.09	%
Total interest-earning assets	13,346,762		106,513	3.20	%	13,450,482		97,023	2.93	%	13,469,186		103,576	3.05	%	13,334,162		105,741	3.15	%	13,251,835		103,199	3.12	%
Noninterest-earning assets (e)	909,943					973,092					1,004,905					1,074,122					1,104,924
Total assets	$	14,256,705				$	14,423,574				$	14,474,091				$	14,408,284				$	14,356,759
Liabilities and shareholders’ equity:
Interest-bearing liabilities:
Savings deposits	$	2,361,919	589	0.10	%	$	2,334,494	592	0.10	%	$	2,282,606	622	0.11	%	$	2,271,365	603	0.11	%	$	2,255,578	590	0.10	%
Interest-bearing demand deposits	2,857,336		310	0.04	%	2,875,430		321	0.05	%	2,933,466		411	0.06	%	2,890,905		414	0.06	%	2,840,949		407	0.06	%
Money market deposit accounts	2,653,467		668	0.10	%	2,668,105		653	0.10	%	2,618,177		656	0.10	%	2,565,159		637	0.10	%	2,537,629		621	0.10	%
Time deposits	1,220,815		1,774	0.58	%	1,292,608		2,185	0.69	%	1,356,513		2,606	0.76	%	1,423,041		2,886	0.80	%	1,493,947		3,155	0.85	%
Borrowed funds (f)	123,749		167	0.54	%	135,289		158	0.47	%	135,038		159	0.47	%	131,199		154	0.47	%	131,240		150	0.46	%
Subordinated debt (g)	119,563		1,203	4.03	%	123,608		1,250	4.05	%	123,514		1,180	3.82	%	123,513		1,277	4.10	%	123,443		1,264	4.11	%
Junior subordinated debentures	129,142		920	2.82	%	129,077		651	2.02	%	129,012		625	1.89	%	128,946		625	1.90	%	128,882		636	1.95	%
Total interest-bearing liabilities	9,465,991		5,631	0.24	%	9,558,611		5,810	0.25	%	9,578,326		6,259	0.26	%	9,534,128		6,596	0.27	%	9,511,668		6,823	0.29	%
Noninterest-bearing demand deposits (h)	3,090,372					3,060,698					3,093,518					3,058,819					3,036,202
Noninterest-bearing liabilities	193,510					203,537					242,620					244,402					247,930
Total liabilities	12,749,873					12,822,846					12,914,464					12,837,349					12,795,800
Shareholders’ equity	1,506,832					1,600,728					1,559,627					1,570,935					1,560,959
Total liabilities and shareholders’ equity	$	14,256,705				$	14,423,574				$	14,474,091				$	14,408,284				$	14,356,759
Net interest income/Interest rate spread			100,882	2.96	%			91,213	2.68	%			97,317	2.79	%			99,145	2.87	%			96,376	2.84	%
Net interest-earning assets/Net interest margin	$	3,880,771		3.07	%	$	3,891,871		2.75	%	$	3,890,860		2.89	%	$	3,800,034		2.97	%	$	3,740,167		2.91	%
Ratio of interest-earning assets to interest-bearing liabilities	1.41X					1.41X					1.41X					1.40X					1.39X


	June 30, 2022			*		March 31, 2022			*		December 31, 2021			*		September 30, 2021			*		June 30, 2021			*
(Number of loans and dollar amount of loans)
Loans delinquent 30 days to 59 days:
Residential mortgage loans	20	$	785	—	%	281	$	24,057	0.8	%	277	$	20,567	0.7	%	17	$	765	—	%	13	$	606	—	%
Home equity loans	107	3,664		0.3	%	105	3,867		0.3	%	112	3,153		0.2	%	101	3,351		0.2	%	91	3,677		0.3	%

Consumer loans	563	6,898		0.3	%	523	6,043		0.3	%	589	6,536		0.4	%	576	6,146		0.3	%	532	5,571		0.3	%
Commercial real estate loans	26	2,701		0.1	%	25	3,643		0.1	%	17	17,065		0.6	%	19	2,004		0.1	%	13	2,857		0.1	%
Commercial loans	24	1,486		0.2	%	16	1,268		0.1	%	12	193		—	%	10	692		0.1	%	15	686		0.1	%
Total loans delinquent 30 days to 59 days	740	$	15,534	0.1	%	950	$	38,878	0.4	%	1,007	$	47,514	0.5	%	723	$	12,958	0.1	%	664	$	13,397	0.1	%

Loans delinquent 60 days to 89 days:
Residential mortgage loans	61	$	5,941	0.2	%	24	$	1,950	0.1	%	59	$	5,433	0.2	%	55	$	4,907	0.2	%	58	$	4,051	0.1	%
Home equity loans	28	952		0.1	%	28	1,138		0.1	%	30	949		0.1	%	29	1,024		0.1	%	36	1,502		0.1	%

Consumer loans	178	1,460		0.1	%	159	1,839		0.1	%	195	2,006		0.1	%	180	1,757		0.1	%	181	1,988		0.1	%
Commercial real estate loans	9	1,472		0.1	%	1	112		—	%	5	769		—	%	8	1,170		—	%	9	1,335		—	%
Commercial loans	6	341		—	%	3	103		—	%	10	727		0.1	%	2	170		—	%	2	27		—	%
Total loans delinquent 60 days to 89 days	282	$	10,166	0.1	%	215	$	5,142	0.1	%	299	$	9,884	0.1	%	274	$	9,028	0.1	%	286	$	8,903	0.1	%

Loans delinquent 90 days or more: **
Residential mortgage loans	63	$	5,445	0.2	%	47	$	3,976	0.1	%	87	$	7,641	0.3	%	95	$	8,069	0.3	%	115	$	10,007	0.3	%
Home equity loans	69	2,081		0.2	%	91	2,968		0.2	%	105	4,262		0.3	%	119	4,745		0.4	%	146	6,256		0.5	%

Consumer loans	286	2,321		0.1	%	287	2,202		0.1	%	296	2,400		0.1	%	308	2,568		0.1	%	356	2,643		0.2	%
Commercial real estate loans	31	14,949		0.5	%	41	21,399		0.7	%	52	24,063		0.8	%	59	25,562		0.8	%	83	23,564		0.7	%
Commercial loans	10	583		0.1	%	10	795		0.1	%	8	1,105		0.1	%	10	1,104		0.1	%	18	4,126		0.4	%
Total loans delinquent 90 days or more	459	$	25,379	0.2	%	476	$	31,340	0.3	%	548	$	39,471	0.4	%	591	$	42,048	0.4	%	718	$	46,596	0.5	%

Total loans delinquent	1,481	$	51,079	0.5	%	1,641	$	75,360	0.7	%	1,854	$	96,869	1.0	%	1,588	$	64,034	0.6	%	1,668	$	68,896	0.7	%


	Quarter ended
	June 30, 2022			March 31, 2022		December 31, 2021		September 30, 2021		June 30, 2021
Beginning balance	$	99,295		102,241		109,767		117,330		123,997


Provision	2,629			(1,481)		(1,909)		(4,354)		—
Charge-offs residential mortgage	(138)			(1,183)		(784)		(1,263)		(770)
Charge-offs home equity	(255)			(447)		(1,299)		(1,474)		(379)

Charge-offs consumer	(1,912)			(1,723)		(2,897)		(2,148)		(2,401)
Charge-offs commercial real estate	(4,392)			(1,024)		(2,652)		(1,581)		(3,964)
Charge-offs commercial	(329)			(681)		(2,586)		(412)		(1,161)
Recoveries	3,457			3,593		4,601		3,669		2,008
Ending balance	$	98,355		99,295		102,241		109,767		117,330
Net charge-offs to average loans, annualized	0.14		%	0.06	%	0.22	%	0.12	%	0.26	%


	Six months ended June 30,
	2022			2021
Beginning balance	$	102,241		134,427


Provision	1,148			(5,620)
Charge-offs residential mortgage	(1,321)			(1,625)
Charge-offs home equity	(702)			(607)
Charge-offs consumer	(3,635)			(5,004)
Charge-offs commercial real estate	(5,416)			(8,590)
Charge-offs commercial	(1,010)			(1,215)
Recoveries	7,050			5,564
Ending balance	$	98,355		117,330
Net charge-offs to average loans, annualized	0.10		%	0.22	%