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Loans and Allowance for Loan Losses (Tables) | 12 Months Ended
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Dec. 31, 2020
Receivables [Abstract] |
Summary of Amount of Each Loan Classification, Categorized into Each Risk Rating Class | The table below presents loan balances classified within each risk rating category by primary loan type and based on year of origination as of December 31, 2020 (in thousands):
December 31, 2020 | 2020 | 2019 | 2018 | 2017 | 2016 | Prior | Revolving Loans | Total
Commercial real estate- owner occupied |  |  |  |  |  |  |  |
Pass | $ | 824,419 |  | $ | 437,755 |  | $ | 430,690 |  | $ | 311,132 |  | $ | 280,826 |  | $ | 257,717 |  | $ | 74,287 |  | $ | 2,616,826 |
Special Mention | 38,687 |  | 23,641 |  | 22,521 |  | 13,335 |  | 5,089 |  | 4,762 |  | 9,638 |  | 117,673 |
Substandard (1) | 17,131 |  | 7,035 |  | 6,853 |  | 12,063 |  | 6,627 |  | 3,946 |  | 3,842 |  | 57,497 |
Substandard-nonaccrual | 972 |  | 149 |  | 2,932 |  | 1,448 |  | 1,532 |  | 3,136 |  | 62 |  | 10,231 |
Doubtful-nonaccrual | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Commercial real estate - owner occupied | $ | 881,209 |  | $ | 468,580 |  | $ | 462,996 |  | $ | 337,978 |  | $ | 294,074 |  | $ | 269,561 |  | $ | 87,829 |  | $ | 2,802,227 |
Commercial real estate- Non-owner occupied |  |  |  |  |  |  |  |
Pass | $ | 1,210,032 |  | $ | 951,070 |  | $ | 728,348 |  | $ | 507,095 |  | $ | 482,642 |  | $ | 323,036 |  | $ | 73,706 |  | $ | 4,275,929 |
Special Mention | 477,098 |  | 121,531 |  | 44,634 |  | 107,712 |  | 72,618 |  | 58,169 |  | 9,840 |  | 891,602 |
Substandard (1) | 15,039 |  | 1,666 |  | 3,140 |  | 3,551 |  | 4,929 |  | 2,309 |  | — |  | 30,634 |
Substandard-nonaccrual | 763 |  | 423 |  | 586 |  | 137 |  | 749 |  | 2,561 |  | — |  | 5,219 |
Doubtful-nonaccrual | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Commercial real estate - Non-owner occupied | $ | 1,702,932 |  | $ | 1,074,690 |  | $ | 776,708 |  | $ | 618,495 |  | $ | 560,938 |  | $ | 386,075 |  | $ | 83,546 |  | $ | 5,203,384 |
Consumer real estate – mortgage |  |  |  |  |  |  |  |
Pass | $ | 730,617 |  | $ | 477,965 |  | $ | 321,411 |  | $ | 163,457 |  | $ | 123,900 |  | $ | 296,408 |  | $ | 945,558 |  | $ | 3,059,316 |
Special Mention | 1,206 |  | 65 |  | 970 |  | 67 |  | — |  | 946 |  | 8,739 |  | 11,993 |
Substandard (1) | 689 |  | 507 |  | — |  | 189 |  | 8 |  | 2,171 |  | 2,108 |  | 5,672 |
Substandard-nonaccrual | 275 |  | 2,486 |  | 999 |  | 1,248 |  | 2,588 |  | 10,516 |  | 4,079 |  | 22,191 |
Doubtful-nonaccrual | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Consumer real estate – mortgage | $ | 732,787 |  | $ | 481,023 |  | $ | 323,380 |  | $ | 164,961 |  | $ | 126,496 |  | $ | 310,041 |  | $ | 960,484 |  | $ | 3,099,172 |
Construction and land development |  |  |  |  |  |  |  |
Pass | $ | 1,199,902 |  | $ | 1,171,879 |  | $ | 363,247 |  | $ | 56,736 |  | $ | 19,198 |  | $ | 6,548 |  | $ | 18,233 |  | $ | 2,835,743 |
Special Mention | 55,805 |  | 2,648 |  | 154 |  | — |  | 4,243 |  | — |  | — |  | 62,850 |
Substandard (1) | 777 |  | 15 |  | 27 |  | — |  | 240 |  | 141 |  | — |  | 1,200 |
Substandard-nonaccrual | 378 |  | 535 |  | 73 |  | 78 |  | — |  | 889 |  | — |  | 1,953 |
Doubtful-nonaccrual | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Construction and land development | $ | 1,256,862 |  | $ | 1,175,077 |  | $ | 363,501 |  | $ | 56,814 |  | $ | 23,681 |  | $ | 7,578 |  | $ | 18,233 |  | $ | 2,901,746 |
Commercial and industrial |  |  |  |  |  |  |  |
Pass | $ | 3,572,453 |  | $ | 973,558 |  | $ | 601,865 |  | $ | 270,880 |  | $ | 116,736 |  | $ | 79,527 |  | $ | 2,141,512 |  | $ | 7,756,531 |
Special Mention | 44,560 |  | 66,186 |  | 5,348 |  | 7,804 |  | 3,735 |  | 731 |  | 40,816 |  | 169,180 |
Substandard (1) | 26,463 |  | 15,283 |  | 12,796 |  | 2,816 |  | 524 |  | 2,071 |  | 18,555 |  | 78,508 |
Substandard-nonaccrual | 19,127 |  | 5,350 |  | 488 |  | 1,084 |  | 186 |  | 79 |  | 7,924 |  | 34,238 |
Doubtful-nonaccrual | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Commercial and industrial | $ | 3,662,603 |  | $ | 1,060,377 |  | $ | 620,497 |  | $ | 282,584 |  | $ | 121,181 |  | $ | 82,408 |  | $ | 2,208,807 |  | $ | 8,038,457 |
Consumer and other |  |  |  |  |  |  |  |
Pass | $ | 165,029 |  | $ | 16,947 |  | $ | 6,515 |  | $ | 6,828 |  | $ | 3,690 |  | $ | 1,643 |  | $ | 178,859 |  | $ | 379,511 |
Special Mention | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Substandard (1) | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Substandard-nonaccrual | — |  | — |  | — |  | — |  | 4 |  | — |  | — |  | 4 |
Doubtful-nonaccrual | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total Consumer and other | $ | 165,029 |  | $ | 16,947 |  | $ | 6,515 |  | $ | 6,828 |  | $ | 3,694 |  | $ | 1,643 |  | $ | 178,859 |  | $ | 379,515 |
Total loans |  |  |  |  |  |  |  |
Pass | $ | 7,702,452 |  | $ | 4,029,174 |  | $ | 2,452,076 |  | $ | 1,316,128 |  | $ | 1,026,992 |  | $ | 964,879 |  | $ | 3,432,155 |  | $ | 20,923,856 |
Special Mention | 617,356 |  | 214,071 |  | 73,627 |  | 128,918 |  | 85,685 |  | 64,608 |  | 69,033 |  | 1,253,298 |
Substandard (1) | 60,099 |  | 24,506 |  | 22,816 |  | 18,619 |  | 12,328 |  | 10,638 |  | 24,505 |  | 173,511 |
Substandard-nonaccrual | 21,515 |  | 8,943 |  | 5,078 |  | 3,995 |  | 5,059 |  | 17,181 |  | 12,065 |  | 73,836 |
Doubtful-nonaccrual | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total loans | $ | 8,401,422 |  | $ | 4,276,694 |  | $ | 2,553,597 |  | $ | 1,467,660 |  | $ | 1,130,064 |  | $ | 1,057,306 |  | $ | 3,537,758 |  | $ | 22,424,501 |
The following table outlines the risk category of loans as of December 31, 2019 (in thousands):
December 31, 2019 | Commercial real estate - mortgage | Consumer real estate - mortgage | Construction and land development | Commercial and industrial | Consumer and other | Total
Pass | $ | 7,499,725 |  | $ | 3,019,203 |  | $ | 2,422,347 |  | $ | 6,069,757 |  | $ | 288,361 |  | $ | 19,299,393 |
Special Mention | 51,147 |  | 13,787 |  | 2,816 |  | 79,819 |  | 698 |  | 148,267 |
Substandard (1) | 139,518 |  | 10,969 |  | 3,042 |  | 125,035 |  | 47 |  | 278,611 |
Substandard-nonaccrual | 18,828 |  | 24,666 |  | 2,278 |  | 15,685 |  | 148 |  | 61,605 |
Doubtful-nonaccrual | — |  | — |  | — |  | — |  | — |  | — |
Total loans | $ | 7,709,218 |  | $ | 3,068,625 |  | $ | 2,430,483 |  | $ | 6,290,296 |  | $ | 289,254 |  | $ | 19,787,876 |
(1) Potential problem loans represent those loans with a well-defined weakness and where information about possible credit problems of borrowers has caused management to have doubts about the borrower's ability to comply with present repayment terms. This definition is believed to be substantially consistent with the standards established by Pinnacle Bank's primary regulators for loans classified as substandard, excluding TDRs. Potential problem loans, which are not included in nonaccrual loans, amounted to approximately $173.5 million at December 31, 2020, compared to $276.0 million at December 31, 2019
Summary of Recorded Investment, Unpaid Principal Balance and Related Allowance and Average Recorded Investment of Impaired Loans | The following tables presents the recorded investment, average recorded investment, and the amount of interest income recognized on a cash basis for impaired loans at December 31, 2019 and 2018, respectively, as determined under ASC 310 prior to the adoption of ASU 2016-13. Impaired loans generally include nonaccrual loans, TDRs, and other loans deemed to be impaired but that continue to accrue interest. Presented are the recorded investment, unpaid principal balance, and related allowance of impaired loans at December 31, 2019 and 2018, respectively, by loan classification (in thousands):
| December 31, 2019 |  | For the year ending December 31, 2019
| Recorded investment |  | Unpaid principal balance |  | Related allowance |  | Average recorded investment |  | Cash basis interest income recognized
Impaired loans with an allowance: |  |  |  |  |  |  |  |  |
Commercial real estate – mortgage | $ | 9,998 |  |  | $ | 10,983 |  |  | $ | 1,235 |  |  | $ | 13,750 |  |  | $ | — |
Consumer real estate – mortgage | 20,996 |  |  | 23,105 |  |  | 1,292 |  |  | 20,909 |  |  | — |
Construction and land development | 542 |  |  | 654 |  |  | 33 |  |  | 578 |  |  | — |
Commercial and industrial | 4,074 |  |  | 5,381 |  |  | 711 |  |  | 8,871 |  |  | — |
Consumer and other | 148 |  |  | 182 |  |  | 9 |  |  | 350 |  |  | — |
Total | $ | 35,758 |  |  | $ | 40,305 |  |  | $ | 3,280 |  |  | $ | 44,458 |  |  | $ | — |
Impaired loans without an allowance: |  |  |  |  |  |  |  |  |
Commercial real estate – mortgage | $ | 8,124 |  |  | $ | 8,891 |  |  | $ | — |  |  | $ | 11,642 |  |  | $ | 176 |
Consumer real estate – mortgage | 4,022 |  |  | 4,021 |  |  | — |  |  | 7,509 |  |  | — |
Construction and land development | 19 |  |  | 17 |  |  | — |  |  | 365 |  |  | — |
Commercial and industrial | 10,221 |  |  | 11,322 |  |  | — |  |  | 12,945 |  |  | — |
Consumer and other | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | 22,386 |  |  | $ | 24,251 |  |  | $ | — |  |  | $ | 32,461 |  |  | $ | 176 |
Total impaired loans | $ | 58,144 |  |  | $ | 64,556 |  |  | $ | 3,280 |  |  | $ | 76,919 |  |  | $ | 176 |
| December 31, 2018 |  | For the year ended December 31, 2018
| Recorded investment |  | Unpaid principal balance |  | Related allowance |  | Average recorded investment |  | Cash basis interest income recognized
Impaired loans with an allowance: |  |  |  |  |  |  |  |  |
Commercial real estate – mortgage | $ | 14,114 |  |  | $ | 14,124 |  |  | $ | 724 |  |  | $ | 10,260 |  |  | $ | — |
Consumer real estate – mortgage | 19,864 |  |  | 19,991 |  |  | 1,443 |  |  | 13,154 |  |  | — |
Construction and land development | 581 |  |  | 579 |  |  | 28 |  |  | 1,157 |  |  | — |
Commercial and industrial | 9,252 |  |  | 9,215 |  |  | 1,441 |  |  | 9,326 |  |  | — |
Consumer and other | 983 |  |  | 1,005 |  |  | 328 |  |  | 718 |  |  | — |
Total | $ | 44,794 |  |  | $ | 44,914 |  |  | $ | 3,964 |  |  | $ | 34,615 |  |  | $ | — |
Impaired loans without an allowance: |  |  |  |  |  |  |  |  |
Commercial real estate – mortgage | $ | 14,724 |  |  | $ | 14,739 |  |  | $ | — |  |  | $ | 17,906 |  |  | $ | 469 |
Consumer real estate – mortgage | 7,247 |  |  | 7,271 |  |  | — |  |  | 5,477 |  |  | — |
Construction and land development | 1,786 |  |  | 1,786 |  |  | — |  |  | 1,463 |  |  | — |
Commercial and industrial | 14,595 |  |  | 14,627 |  |  | — |  |  | 15,796 |  |  | — |
Consumer and other | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | 38,352 |  |  | $ | 38,423 |  |  | $ | — |  |  | $ | 40,642 |  |  | $ | 469 |
Total impaired loans | $ | 83,146 |  |  | $ | 83,337 |  |  | $ | 3,964 |  |  | $ | 75,257 |  |  | $ | 469 |
Amount of Troubled Debt Restructuring Categorized by Loan Classification | The following table outlines the amount of each TDR by loan classification made during the years ended December 31, 2020, 2019 and 2018 (dollars in thousands):
| Number of contracts |  | Pre Modification Outstanding Recorded Investment |  | Post Modification Outstanding Recorded Investment, net of related allowance
December 31, 2020 |  |  |  |  |
Commercial real estate: |  |  |  |  |
Owner-occupied | — |  |  | $ | — |  |  | $ | — |
Non-owner occupied | — |  |  | — |  |  | — |
Consumer real estate – mortgage | 1 |  |  | 807 |  |  | 807 |
Construction and land development | — |  |  | — |  |  | — |
Commercial and industrial | — |  |  | — |  |  | — |
Consumer and other | — |  |  | — |  |  | — |
| 1 |  |  | $ | 807 |  |  | $ | 807 |
December 31, 2019 |
Commercial real estate: |  |  |  |  |
Owner-occupied | 1 |  |  | $ | 306 |  |  | $ | 287 |
Non-owner occupied | — |  |  | — |  |  | — |
Consumer real estate – mortgage | 1 |  |  | 683 |  |  | 683 |
Construction and land development | 1 |  |  | 19 |  |  | 19 |
Commercial and industrial | 1 |  |  | 1,318 |  |  | 777 |
Consumer and other | — |  |  | — |  |  | — |
| 4 |  |  | $ | 2,326 |  |  | $ | 1,766 |
December 31, 2018 |
Commercial real estate: |  |  |  |  |
Owner-occupied | — |  |  | $ | — |  |  | $ | — |
Non-owner occupied | — |  |  | — |  |  | — |
Consumer real estate – mortgage | 3 |  |  | 1,967 |  |  | 1,967 |
Construction and land development | 1 |  |  | 347 |  |  | 347 |
Commercial and industrial | — |  |  | — |  |  | — |
Consumer and other | — |  |  | — |  |  | — |
| 4 |  |  | $ | 2,314 |  |  | $ | 2,314 |
During the years ended December 31, 2020, 2019 and 2018, Pinnacle Financial had no TDRs that subsequently defaulted within twelve months of the restructuring. A default is defined as an occurrence which violates the terms of the receivable's contract. In response to the COVID-19 pandemic and its economic impact to its customers, Pinnacle Bank implemented a short-term modification program in accordance with interagency regulatory guidance to provide temporary payment relief to those borrowers directly impacted by COVID-19 who were not more than 30 days past due at the time of the modification. This program allowed for a deferral of payments for up to two successive 90 day periods for a cumulative maximum of 180 days. Pursuant to interagency guidance, such short-term deferrals are not deemed to meet the criteria for reporting as TDRs. For borrowers requiring a longer-term modification following the short-term loan modification program, Pinnacle Financial worked with these borrowers whose loans were not more than 30 days past due at December 31, 2019 and who required modifications as a result of COVID-19 to modify such loans under Section 4013 of the CARES Act. The outstanding balance at December 31, 2020 of loans which have received such modifications was approximately $825.6 million. In accordance with the provisions of the CARES Act, these modifications have not been classified as TDRs.
Summary of Loan Portfolio Credit Risk Exposure | Pinnacle Financial analyzes its commercial loan portfolio to determine if a concentration of credit risk exists to any industries. Pinnacle Financial utilizes broadly accepted industry classification systems in order to classify borrowers into various industry classifications. Pinnacle Financial had a credit exposure (loans outstanding plus unfunded lines of credit) exceeding 25% of Pinnacle Bank's total risk-based capital to borrowers in the following industries at December 31, 2020 with the comparative exposures for December 31, 2019 (in thousands):
| At December 31, 2020 |  |
| Outstanding Principal Balances |  | Unfunded Commitments |  | Total exposure |  | Total Exposure at December 31, 2019
Lessors of nonresidential buildings | $ | 3,558,320 |  |  | $ | 884,392 |  |  | $ | 4,442,712 |  |  | $ | 4,578,116 |
Lessors of residential buildings | 1,340,937 |  |  | 785,309 |  |  | 2,126,246 |  |  | 1,599,837 |
New housing for-sale builders | 474,932 |  |  | 649,370 |  |  | 1,124,302 |  |  | 1,090,603 |
Hotels and motels | 949,712 |  |  | 89,547 |  |  | 1,039,259 |  |  | 967,771 |
Total | $ | 6,323,901 |  |  | $ | 2,408,618 |  |  | $ | 8,732,519 |  |  | $ | 8,236,327 |
Past Due Balances by Loan Classification | The table below presents the aging of past due balances by loan segment at December 31, 2020 and December 31, 2019 (in thousands):
December 31, 2020 | 30-59 days past due |  | 60-89 days past due |  | 90 days or more past due |  | Total past due |  | Current |  | Total loans
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |
Owner-occupied | $ | 934 |  |  | $ | 2,672 |  |  | $ | 1,860 |  |  | $ | 5,466 |  |  | $ | 2,796,761 |  |  | $ | 2,802,227 |
Non-owner occupied | 726 |  |  | 6,220 |  |  | 3,861 |  |  | 10,807 |  |  | 5,192,577 |  |  | 5,203,384 |
Consumer real estate – mortgage | 8,859 |  |  | 328 |  |  | 6,274 |  |  | 15,461 |  |  | 3,083,711 |  |  | 3,099,172 |
Construction and land development | 278 |  |  | 418 |  |  | 736 |  |  | 1,432 |  |  | 2,900,314 |  |  | 2,901,746 |
Commercial and industrial | 20,278 |  |  | 5,801 |  |  | 4,408 |  |  | 30,487 |  |  | 8,007,970 |  |  | 8,038,457 |
Consumer and other | 806 |  |  | 282 |  |  | 304 |  |  | 1,392 |  |  | 378,123 |  |  | 379,515 |
Total | $ | 31,881 |  |  | $ | 15,721 |  |  | $ | 17,443 |  |  | $ | 65,045 |  |  | $ | 22,359,456 |  |  | $ | 22,424,501 |
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |
Owner-occupied | $ | 2,307 |  |  | $ | 2,932 |  |  | $ | 1,719 |  |  | $ | 6,958 |  |  | $ | 2,662,808 |  |  | $ | 2,669,766 |
Non-owner occupied | 3,156 |  |  | 3,641 |  |  | 3,816 |  |  | 10,613 |  |  | 5,028,839 |  |  | 5,039,452 |
Consumer real estate – mortgage | 11,646 |  |  | 2,157 |  |  | 7,304 |  |  | 21,107 |  |  | 3,047,518 |  |  | 3,068,625 |
Construction and land development | 1,392 |  |  | 711 |  |  | 1,487 |  |  | 3,590 |  |  | 2,426,893 |  |  | 2,430,483 |
Commercial and industrial | 8,474 |  |  | 2,478 |  |  | 6,364 |  |  | 17,316 |  |  | 6,272,980 |  |  | 6,290,296 |
Consumer and other | 1,770 |  |  | 414 |  |  | 570 |  |  | 2,754 |  |  | 286,500 |  |  | 289,254 |
Total | $ | 28,745 |  |  | $ | 12,333 |  |  | $ | 21,260 |  |  | $ | 62,338 |  |  | $ | 19,725,538 |  |  | $ | 19,787,876 |
Details of Changes in the Allowance for Loan Losses | The following table details the changes in the allowance for credit losses from December 31, 2017 to December 31, 2018 to December 31, 2019 to December 31, 2020 by loan classification and the allocation of allowance for credit losses (in thousands):
| Commercial real estate - owner occupied | Commercial real estate - non-owner occupied | Consumer real estate - mortgage | Construction and land development | Commercial and industrial | Consumer and other | Unallocated | Total
Allowance for Credit Losses: |  |  |  |  |  |  |  |
Balance at December 31, 2017 | $ | 8,992 |  | $ | 12,196 |  | $ | 5,031 |  | $ | 8,962 |  | $ | 24,863 |  | $ | 5,874 |  | $ | 1,322 |  | $ | 67,240 |
Charged-off loans | (2,652) |  | (378) |  | (1,593) |  | (74) |  | (13,175) |  | (12,528) |  | — |  | (30,400) |
Recovery of previously charged-off loans | 1,568 |  | 528 |  | 2,653 |  | 1,863 |  | 3,035 |  | 2,711 |  | — |  | 12,358 |
Provision for credit losses | 2,667 |  | 4,025 |  | 1,579 |  | 377 |  | 17,008 |  | 9,366 |  | (645) |  | 34,377 |
Balance at December 31, 2018 | $ | 10,575 |  | $ | 16,371 |  | $ | 7,670 |  | $ | 11,128 |  | $ | 31,731 |  | $ | 5,423 |  | $ | 677 |  | $ | 83,575 |
Charged-off loans | (1,625) |  | (75) |  | (1,335) |  | (18) |  | (19,208) |  | (6,206) |  | — |  | (28,467) |
Recovery of previously charged-off loans | 1,252 |  | 980 |  | 1,827 |  | 682 |  | 6,473 |  | 1,172 |  | — |  | 12,386 |
Provision for credit losses | 3,204 |  | 2,687 |  | (108) |  | 870 |  | 17,116 |  | 3,206 |  | 308 |  | 27,283 |
Balance at December 31, 2019 | $ | 13,406 |  | $ | 19,963 |  | $ | 8,054 |  | $ | 12,662 |  | $ | 36,112 |  | $ | 3,595 |  | $ | 985 |  | $ | 94,777 |
Impact of adopting ASC 326 | 264 |  | (4,740) |  | 21,029 |  | (3,144) |  | 23,040 |  | 2,638 |  | (985) |  | 38,102 |
Charged-off loans | (2,598) |  | (546) |  | (3,478) |  | — |  | (38,718) |  | (3,993) |  | — |  | (49,333) |
Recovery of previously charged-off loans | 1,317 |  | 911 |  | 1,493 |  | 147 |  | 4,540 |  | 1,554 |  | — |  | 9,962 |
Provision for credit losses | 10,909 |  | 63,544 |  | 6,206 |  | 32,743 |  | 73,449 |  | 4,691 |  | — |  | 191,542 |
Balance at December 31, 2020 | $ | 23,298 |  | $ | 79,132 |  | $ | 33,304 |  | $ | 42,408 |  | $ | 98,423 |  | $ | 8,485 |  | $ | — |  | $ | 285,050 |
The following table details the allowance for credit losses on loans and recorded investment in loans by loan classification and by impairment evaluation method as of December 31, 2019, as determined in accordance with ASC 310 prior to the adoption of ASU 2016-13 (in thousands):
| Commercial real estate - mortgage | Consumer real estate - mortgage | Construction and land development | Commercial and industrial | Consumer and other | Unallocated | Total
December 31, 2019 |  |  |  |  |  |  |
Allowance for Loan Losses: |  |  |  |  |  |  |
Collectively evaluated for impairment | $ | 32,134 |  | $ | 6,762 |  | $ | 12,629 |  | $ | 35,401 |  | $ | 3,586 |  |  | $ | 90,512 |
Individually evaluated for impairment | 1,235 |  | 1,292 |  | 33 |  | 711 |  | 9 |  |  | 3,280 |
Loans acquired with deteriorated credit quality(1) | — |  | — |  | — |  | — |  | — |  |  | — |
Balance at December 31, 2019 | $ | 33,369 |  | $ | 8,054 |  | $ | 12,662 |  | $ | 36,112 |  | $ | 3,595 |  | $ | 985 |  | $ | 94,777 |
Loans: |  |  |  |  |  |  |
Collectively evaluated for impairment | $ | 7,681,608 |  | $ | 3,036,922 |  | $ | 2,426,901 |  | $ | 6,274,280 |  | $ | 289,106 |  |  | $ | 19,708,817 |
Individually evaluated for impairment | 18,122 |  | 25,018 |  | 561 |  | 14,295 |  | 148 |  |  | 58,144 |
Loans acquired with deteriorated credit quality | 9,488 |  | 6,685 |  | 3,021 |  | 1,721 |  | — |  |  | 20,915 |
Balance at December 31, 2019 | $ | 7,709,218 |  | $ | 3,068,625 |  | $ | 2,430,483 |  | $ | 6,290,296 |  | $ | 289,254 |  |  | $ | 19,787,876 |
(1) Prior to the adoption of ASC 326 on January 1, 2020, an allowance for loan losses was recorded on loans acquired with deteriorated credit quality only in the event of additional credit deterioration subsequent to acquisition.
Schedule of Accounts, Notes, Loans and Financing Receivable | Loans at December 31, 2020 and 2019 (in thousands) were as follows:
|  | December 31, 2020 |  | December 31, 2019
Commercial real estate: |  |  |  |
Owner-occupied |  | $ | 2,802,227 |  | $ | 2,669,766
Non-owner occupied |  | 5,203,384 |  | 5,039,452
Consumer real estate – mortgage |  | 3,099,172 |  | 3,068,625
Construction and land development |  | 2,901,746 |  | 2,430,483
Commercial and industrial |  | 8,038,457 |  | 6,290,296
Consumer and other |  | 379,515 |  | 289,254
Subtotal |  | $ | 22,424,501 |  |  | $ | 19,787,876 |
Allowance for credit losses |  | (285,050) |  | (94,777)
Loans, net |  | $ | 22,139,451 |  |  | $ | 19,693,099 |
Schedule of Collateral Dependent Loans Individually Evaluated for ACL | The following table presents the amortized cost basis of collateral dependent loans, which are individually evaluated to determine expected credit losses (in thousands):
| Real Estate | Business Assets | Other | Total
December 31, 2020 |  |  |  |
Commercial real estate: |  |  |  |
Owner-occupied | $ | 15,681 |  | $ | — |  | $ | — |  | $ | 15,681 |
Non-owner occupied | 7,000 |  | — |  | — |  | 7,000 |
Consumer real estate – mortgage | 27,082 |  | — |  | — |  | 27,082 |
Construction and land development | 2,049 |  | — |  | — |  | 2,049 |
Commercial and industrial | — |  | 22,437 |  | 39 |  | 22,476 |
Consumer and other | — |  | — |  | 4 |  | 4 |
Total | $ | 51,812 |  | $ | 22,437 |  | $ | 43 |  | $ | 74,292 |
Financing Receivable, Nonaccrual | The table below presents the amortized cost basis of loans on nonaccrual status and loans past due 90 or more days and still accruing interest at December 31, 2020 and December 31, 2019. Also presented is the balance of loans on nonaccrual status at December 31, 2020 for which there was no related allowance for credit losses recorded (in thousands):
| December 31, 2020 |  | December 31, 2019
| Total nonaccrual loans |  | Nonaccrual loans with no allowance for credit losses |  | Loans past due 90 or more days and still accruing |  | Total nonaccrual loans |  | Loans past due 90 or more days and still accruing
Commercial real estate: |  |  |  |  |  |  |  |  |
Owner-occupied | $ | 10,231 |  |  | $ | 5,985 |  |  | $ | — |  |  | $ | 11,654 |  |  | $ | — |
Non-owner occupied | 5,219 |  |  | 1,522 |  |  | — |  |  | 7,173 |  |  | — |
Consumer real estate – mortgage | 22,191 |  |  | — |  |  | 273 |  |  | 24,667 |  |  | 168 |
Construction and land development | 1,953 |  |  | — |  |  | — |  |  | 2,278 |  |  | — |
Commercial and industrial | 34,238 |  |  | 29,030 |  |  | 1,785 |  |  | 15,685 |  |  | 946 |
Consumer and other | 4 |  |  | — |  |  | 304 |  |  | 148 |  |  | 501 |
Total | $ | 73,836 |  |  | $ | 36,537 |  |  | $ | 2,362 |  |  | $ | 61,605 |  |  | $ | 1,615 |
Certain Loans Acquired in Transfer During Period | The following table provides a rollforward of PCD loans from December 31, 2018 through December 31, 2020 (in thousands):
| Gross Carrying Value |  | Accretable Yield |  | Nonaccretable Yield |  | Carrying Value
December 31, 2018 | $ | 42,837 |  |  | $ | (114) |  |  | $ | (17,394) |  |  | $ | 25,329 |
Acquisitions | 1,883 |  |  | — |  |  | — |  |  | 1,883 |
Reclassification of yield from nonaccretable to accretable | — |  |  | (7,505) |  |  | 7,505 |  |  | — |
Settlements | (15,176) |  |  | 2,818 |  |  | 6,061 |  |  | (6,297) |
December 31, 2019 | $ | 29,544 |  |  | $ | (4,801) |  |  | $ | (3,828) |  |  | $ | 20,915 |
Reclassification of discount to allowance for credit losses | — |  |  | — |  |  | 3,828 |  |  | 3,828 |
Settlements | (8,158) |  |  | 2,561 |  |  | — |  |  | (5,597) |
December 31, 2020 | $ | 21,386 |  |  | $ | (2,240) |  |  | $ | — |  |  | $ | 19,146 |

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