Quarterly report pursuant to Section 13 or 15(d)

Off-Balance Sheet Commitments (Tables)

v3.21.1
Off-Balance Sheet Commitments (Tables)
3 Months Ended
Mar. 31, 2021
Risks And Uncertainties [Abstract]  
Distribution of Undisbursed Loan Commitments

The following table shows the distribution of undisbursed loan commitments as of the dates indicated:

 

 

 

 

 

March 31,

 

 

December 31,

 

 

 

 

 

2021

 

 

2020

 

 

 

 

 

(in thousands)

 

Commitments to extend credit

 

 

 

$

463,841

 

 

$

453,900

 

Standby letters of credit

 

 

 

 

48,922

 

 

 

47,169

 

Commercial letters of credit

 

 

 

 

68,098

 

 

 

54,547

 

Total undisbursed loan commitments

 

 

 

$

580,861

 

 

$

555,616

 

Allowance for Credit Losses Related to Off-Balance Sheet Items

Activity in the allowance for credit losses related to off-balance sheet items was as follows for the periods indicated:

 

 

 

 

 

Three Months Ended March 31,

 

 

 

 

 

2021

 

 

2020

 

 

 

 

 

(in thousands)

 

Balance at beginning of period

 

 

 

$

2,792

 

 

$

2,397

 

Adjustment related to adoption of ASU 2016-13

 

 

 

 

 

 

 

(335

)

Adjusted balance

 

 

 

 

2,792

 

 

 

2,062

 

Provision expense (income) for credit losses

 

 

 

 

(450

)

 

 

823

 

Balance at end of period

 

 

 

$

2,342

 

 

$

2,885