Below is a reconciliation of the activity in our allowance for credit and loan losses for the periods indicated (dollar amounts in thousands):

         
  Three Months Ended
March 31,   December 31, September 30, June 30, March 31,
  2012     2011     2011     2011     2011
 
Allowance for credit losses, balance at the beginning of period $ 135,975 $ 141,861 $ 147,107 $ 178,410 $ 192,217
Provision for credit losses 3,100 8,000 11,500 61,250 40,000
Charge-offs:
Commercial loans (539 ) (2,932 ) (3,497 ) (7,991 ) (3,151 )

Commercial loans collateralized by assignment of lease payments (lease loans)
- (1,373 ) - (93 ) -
Commercial real estate loans (3,003 ) (3,793 ) (7,815 ) (55,250 ) (29,775 )
Construction real estate (3,436 ) (6,989 ) (6,008 ) (18,826 ) (21,094 )
Residential real estate (294 ) (860 ) (141 ) (8,080 ) (3,562 )
Indirect vehicle (715 ) (954 ) (611 ) (553 ) (718 )
Home equity (1,072 ) (2,061 ) (1,605 ) (5,493 ) (1,907 )
Consumer loans (258 ) (285 ) (475 ) (344 ) (544 )
Total charge-offs (9,317 ) (19,247 ) (20,152 ) (96,630 ) (60,751 )
Recoveries:
Commercial loans 2,038 634 1,413 758 2,565

Commercial loans collateralized by assignment of lease payments (lease loans)
256 1 5 153 66
Commercial real estate loans 162 747 739 312 1,534
Construction real estate 565 3,519 681 2,364 2,026
Residential real estate 34 9 7 26 7
Indirect vehicle 311 378 327 369 325
Home equity 20 6 151 19 48
Consumer loans 111   67   83   76   373  
Total recoveries 3,497   5,361   3,406   4,077   6,944  
 
Total net charge-offs (5,820 ) (13,886 ) (16,746 ) (92,553 ) (53,807 )
 
Allowance for credit losses 133,255 135,975 141,861 147,107 178,410
 
Allowance for unfunded credit commitments (1) (7,824 ) (9,177 ) (13,251 ) (17,050 ) -  
 
Allowance for loan losses (2) $ 125,431   $ 126,798   $ 128,610   $ 130,057   $ 178,410  
 
Total loans, excluding loans held for sale $ 5,789,765 $ 5,950,995 $ 5,813,737 $ 5,938,029 $ 6,367,996
Average loans, excluding loans held for sale $ 5,802,037 $ 5,818,425 $ 5,827,181 $ 6,293,073 $ 6,460,508
 
Ratio of allowance for loan losses to total loans, excluding loans held for sale 2.17 % 2.13 % 2.21 % 2.19 % 2.80 %
 
Ratio of allowance for credit losses to total loans, excluding loans held for sale, and unfunded credit commitments 2.27 % 2.26 % 2.40 % 2.43 % 2.75 %
 
Net loan charge-offs to average loans, excluding loans held for sale (annualized) 0.40 % 0.95 % 1.14 % 5.90 % 3.38 %

(1) The reserve for unfunded credit commitments (primarily letters of credit) was reclassified from the allowance for loan losses to other liabilities as of June 30, 2011.

If you liked this article you might like

20 Mid-Cap Dividend Growers Are Blips on My Tracking Radar

Analysts' Actions -- Kinder Morgan, AT&T, Verizon, 3M and More

Insider Trading Alert - QCOM, MBFI And IIIN Traded By Insiders

Ex-Dividend Alert: 3 Stocks Going Ex-Dividend Monday: JTD, CII, MBFI

Doha Oil Talks Fail: What It Means for the Markets in the Week Ahead