Quarterly report pursuant to Section 13 or 15(d)

Off-Balance Sheet Commitments (Tables)

v3.23.3
Off-Balance Sheet Commitments (Tables)
9 Months Ended
Sep. 30, 2023
Risks and Uncertainties [Abstract]  
Distribution of Total Loan Commitments

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

 

 

 

September 30,

 

 

December 31,

 

 

 

2023

 

 

2022

 

 

 

(in thousands)

 

Unused commitments to extend credit

 

$

848,886

 

 

$

780,543

 

Standby letters of credit

 

 

77,381

 

 

 

71,829

 

Commercial letters of credit

 

 

19,524

 

 

 

19,945

 

Total commitments

 

$

945,791

 

 

$

872,317

 

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 September 30,

 

 

Nine Months Ended September 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

 

 

(in thousands)

 

Balance at beginning of period

 

$

2,475

 

 

$

2,313

 

 

$

3,114

 

 

$

2,586

 

Provision expense (recovery) for credit losses

 

 

(13

)

 

 

936

 

 

 

(652

)

 

 

663

 

Balance at end of period

 

$

2,462

 

 

$

3,249

 

 

$

2,462

 

 

$

3,249