Quarterly report pursuant to Section 13 or 15(d)

Off-Balance Sheet Commitments (Tables)

v3.24.2.u1
Off-Balance Sheet Commitments (Tables)
6 Months Ended
Jun. 30, 2024
Risks and Uncertainties [Abstract]  
Distribution of Total Loan Commitments

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

 

 

 

June 30,

 

 

December 31,

 

 

 

2024

 

 

2023

 

 

 

(in thousands)

 

Unused commitments to extend credit

 

$

795,391

 

 

$

813,960

 

Standby letters of credit

 

 

87,186

 

 

 

83,725

 

Commercial letters of credit

 

 

23,806

 

 

 

33,140

 

Total commitments

 

$

906,383

 

 

$

930,825

 

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 June 30,

 

 

Six Months Ended June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

 

 

(in thousands)

 

Balance at beginning of period

 

$

2,297

 

 

$

3,066

 

 

$

2,474

 

 

$

3,114

 

Credit loss recovery

 

 

(287

)

 

 

(591

)

 

 

(464

)

 

 

(639

)

Balance at end of period

 

$

2,010

 

 

$

2,475

 

 

$

2,010

 

 

$

2,475