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Allowance for Credit Losses, Credit Quality and Other (Tables)

12 Months Ended

Dec. 31, 2023

Receivables [Abstract]

Balance of Allowance for Loan Losses

The following table presents the activity in the allowance for credit losses for the year ended December 31, 2023.

			Year Ended December 31, 2023
			Construction/ Land Development						Other Commercial Real Estate						Residential Real Estate						Commercial & Industrial						Consumer & Other						Total
			(In thousands)
Allowance for credit losses:
Beginning balance			$	32,243					$	93,848					$	50,963					$	89,354					$	23,261					$	289,669
Loans charged off			(263)						(2,335)						(269)						(9,157)						(4,031)						(16,055)
Recoveries of loans previously charged off			113						533						329						583						1,112						2,670
Net loans recovered (charged off)			(150)						(1,802)						60						(8,574)						(2,919)						(13,385)
Provision for credit loss - loans			1,784						(13,411)						4,837						12,030						6,710						11,950
Balance, December 31			$	33,877					$	78,635					$	55,860					$	92,810					$	27,052					$	288,234

The following table presents the balance in the allowance for credit losses for the year ended December 31, 2022.

			Year Ended December 31, 2022
			Construction/ Land Development						Other Commercial Real Estate						Residential Real Estate						Commercial & Industrial						Consumer & Other						Total
			(In thousands)
Allowance for credit losses:
Beginning balance			$	28,415					$	87,218					$	48,458					$	53,062					$	19,561					$	236,714
Allowance for credit losses on PCD loans - Happy acquisition			950						9,283						980						5,596						7						16,816
Loans charged off			(1)						—						(446)						(9,773)						(7,047)						(17,267)
Recoveries of loans previously charged off			405						967						119						780						965						3,236
Net loans recovered (charged off)			404						967						(327)						(8,993)						(6,082)						(14,031)
Provision for credit loss - acquired loans			7,205						18,711						7,380						11,303						571						45,170
Provision for credit loss - loans			(4,731)						(22,331)						(5,528)						28,386						9,204						5,000
Balance, December 31			$	32,243					$	93,848					$	50,963					$	89,354					$	23,261					$	289,669

The following table presents the balance in the allowance for loan losses for the year ended December 31, 2021.

			Year Ended December 31, 2021
			Construction/ Land Development						Other Commercial Real Estate						Residential Real Estate						Commercial & Industrial						Consumer & Other						Total
			(In thousands)
Allowance for loan losses:
Beginning balance			$	32,861					$	88,453					$	53,216					$	46,530					$	24,413					$	245,473
Loans charged off			—						(646)						(545)						(8,242)						(2,228)						(11,661)
Recoveries of loans previously charged off			58						785						683						591						785						2,902
Net loans recovered (charged off)			58						139						138						(7,651)						(1,443)						(8,759)
Provision for credit loss - loans			(4,504)						(1,374)						(4,896)						14,183						(3,409)						—
Balance December 31			$	28,415					$	87,218					$	48,458					$	53,062					$	19,561					$	236,714

Amortized Cost Basis of Loans on Nonaccrual Status and Loans Past Due Over 90 Days Still Accruing

The following table presents the amortized cost basis of loans on nonaccrual status and loans past due over 90 days still accruing as of December 31, 2023 and 2022, respectively:

			December 31, 2023
			Nonaccrual						Nonaccrual With Reserve						Loans Past Due Over 90 Days Still Accruing
			(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential			$	13,178					$	—					$	2,177
Construction/land development			12,094						—						255
Agricultural			431						—						—
Residential real estate loans
Residential 1-4 family			20,351						—						84
Multifamily residential			—						—						—
Total real estate			46,054						—						2,516
Consumer			3,423						—						79
Commercial and industrial			9,982						2,534						1,535
Agricultural & other			512						—						—
Total			$	59,971					$	2,534					$	4,130

			December 31, 2022
			Nonaccrual						Nonaccrual With Reserve						Loans Past Due Over 90 Days Still Accruing
			(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential			$	12,219					$	8,383					$	1,844
Construction/land development			1,977						—						31
Agricultural			278						—						—
Residential real estate loans
Residential 1-4 family			18,083						—						1,374
Multifamily residential			—						—						—
Total real estate			32,557						8,383						3,249
Consumer			2,842						—						35
Commercial and industrial			14,920						—						6,300
Agricultural & other			692						—						261
Total			$	51,011					$	8,383					$	9,845

Amortized Cost Basis of Collateral-dependent Impaired Loans

The following table presents the amortized cost basis of impaired loans by class of loans (which includes loans individually analyzed for credit losses for which a specific reserve has been recorded, non-accrual loans, loans past due 90 days or more and restructured loans made to borrowers experiencing financial difficulty) as of December 31, 2023 and 2022, respectively:

			December 31, 2023
			Commercial Real Estate						Residential Real Estate						Other
			(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential			$	39,813					$	—					$	—
Construction/land development			12,350						—						—
Agricultural			431						—						—
Residential real estate loans
Residential 1-4 family			—						21,386						—
Multifamily residential			—						—						—
Total real estate			52,594						21,386						—
Consumer			—						—						3,511
Commercial and industrial			—						—						16,890
Agricultural & other			—						—						512
Total			$	52,594					$	21,386					$	20,913

			December 31, 2022
			Commercial Real Estate						Residential Real Estate						Other
			(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential			$	162,268					$	—					$	—
Construction/land development			2,008						—						—
Agricultural			278						—						—
Residential real estate loans
Residential 1-4 family			—						20,832						—
Multifamily residential			—						969						—
Total real estate			164,554						21,801						—
Consumer			—						—						2,888
Commercial and industrial			—						—						30,334
Agricultural & other			—						—						1,527
Total			$	164,554					$	21,801					$	34,749

Summary of Aging Analysis for Loans Receivable

The following is an aging analysis for loans receivable as of December 31, 2023 and 2022:

			December 31, 2023
			Loans Past Due 30-59 Days						Loans Past Due 60-89 Days						Loans Past Due 90 Days or More						Total Past Due						Current Loans						Total Loans Receivable						Accruing Loans Past Due 90 Days or More
			(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential			$	8,124					$	416					$	15,355					$	23,895					$	5,526,059					$	5,549,954					$	2,177
Construction/land development			1,430						—						12,349						13,779						2,279,268						2,293,047						255
Agricultural			474						314						431						1,219						323,937						325,156						—
Residential real estate loans
Residential 1-4 family			4,346						1,423						20,435						26,204						1,818,056						1,844,260						84
Multifamily residential			—						—						—						—						435,736						435,736						—
Total real estate			14,374						2,153						48,570						65,097						10,383,056						10,448,153						2,516
Consumer			1,022						303						3,502						4,827						1,148,863						1,153,690						79
Commercial and industrial			2,089						3,378						11,517						16,984						2,308,007						2,324,991						1,535
Agricultural and other			1,074						113						512						1,699						496,195						497,894						—
Total			$	18,559					$	5,947					$	64,101					$	88,607					$	14,336,121					$	14,424,728					$	4,130

			December 31, 2022
			Loans Past Due 30-59 Days						Loans Past Due 60-89 Days						Loans Past Due 90 Days or More						Total Past Due						Current Loans						Total Loans Receivable						Accruing Loans Past Due 90 Days or More
			(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential			$	4,242					$	2,117					$	14,063					$	20,422					$	5,611,641					$	5,632,063					$	1,844
Construction/land development			4,042						1,892						2,008						7,942						2,127,324						2,135,266						31
Agricultural			1,469						193						278						1,940						344,871						346,811						—
Residential real estate loans
Residential 1-4 family			6,715						605						19,457						26,777						1,721,774						1,748,551						1,374
Multifamily residential			—						—						—						—						578,052						578,052						—
Total real estate			16,468						4,807						35,806						57,081						10,383,662						10,440,743						3,249
Consumer			950						539						2,877						4,366						1,145,530						1,149,896						35
Commercial and industrial			3,007						1,075						21,220						25,302						2,323,961						2,349,263						6,300
Agricultural and other			1,065						57						953						2,075						467,503						469,578						261
Total			$	21,490					$	6,478					$	60,856					$	88,824					$	14,320,656					$	14,409,480					$	9,845

Presentation of Classified Loans by Class and Risk Rating

Based on the most recent analysis performed, the risk category of loans by class as of December 31, 2023 and 2022 is as follows:

			December 31, 2023
			Term Loans Amortized Cost Basis by Origination Year
			2023						2022						2021						2020						2019						Prior						Revolving Loans Amortized Cost Basis						Total
			(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
Risk rating 1			$	—					$	—					$	—					$	—					$	232					$	116					$	55					$	403
Risk rating 2			—						—						—						—						111						—						—						111
Risk rating 3			305,742						584,860						568,413						243,177						216,746						934,111						440,414						3,293,463
Risk rating 4			83,089						557,540						242,217						224,378						149,258						590,864						95,360						1,942,706
Risk rating 5			—						—						10,000						—						14,095						42,694						758						67,547
Risk rating 6			—						8,198						9,958						23,743						24,380						179,350						95						245,724
Risk rating 7			—						—						—						—						—						—						—						—
Risk rating 8			—						—						—						—						—						—						—						—
Total non-farm/non-residential			388,831						1,150,598						830,588						491,298						404,822						1,747,135						536,682						5,549,954
Construction/land development
Risk rating 1			$	—					$	—					$	10					$	—					$	—					$	—					$	—					$	10
Risk rating 2			759						—						—						—						—						186						—						945
Risk rating 3			300,941						499,984						130,342						62,134						22,656						56,180						44,603						1,116,840
Risk rating 4			198,874						417,244						252,602						22,713						32,342						24,527						209,063						1,157,365
Risk rating 5			641						1,163						—						3,306						218						69						—						5,397
Risk rating 6			—						7,817						1,631						748						641						254						1,327						12,418
Risk rating 7			—						—						—						—						—						—						—						—
Risk rating 8			—						—						72						—						—						—						—						72
Total construction/land development			501,215						926,208						384,657						88,901						55,857						81,216						254,993						2,293,047
Agricultural
Risk rating 1			$	—					$	1,605					$	—					$	—					$	—					$	—					$	—					$	1,605
Risk rating 2			247						—						1,936						—						—						—						—						2,183
Risk rating 3			30,252						43,291						22,919						25,992						10,678						43,284						20,104						196,520
Risk rating 4			9,477						24,688						20,358						19,532						7,873						32,692						4,612						119,232
Risk rating 5			—						—						—						—						314						571						—						885
Risk rating 6			—						—						1,675						1,084						1,620						352						—						4,731
Risk rating 7			—						—						—						—						—						—						—						—
Risk rating 8			—						—						—						—						—						—						—						—
Total agricultural			39,976						69,584						46,888						46,608						20,485						76,899						24,716						325,156
Total commercial real estate loans			$	930,022					$	2,146,390					$	1,262,133					$	626,807					$	481,164					$	1,905,250					$	816,391					$	8,168,157
Residential real estate loans
Residential 1-4 family
Risk rating 1			$	—					$	—					$	—					$	—					$	—					$	144					$	2					$	146
Risk rating 2			259						—						—						—						—						20						1						280
Risk rating 3			246,462						366,149						241,985						145,339						93,751						324,569						122,950						1,541,205
Risk rating 4			14,992						37,444						55,406						21,240						13,313						67,084						62,356						271,835
Risk rating 5			—						243						246						479						831						1,343						40						3,182
Risk rating 6			71						5,361						2,926						4,064						3,432						10,567						1,189						27,610
Risk rating 7			—						—						—						—						—						—						—						—
Risk rating 8			—						—						—						—						—						2						—						2
Total residential 1-4 family			261,784						409,197						300,563						171,122						111,327						403,729						186,538						1,844,260

			December 31, 2023
			Term Loans Amortized Cost Basis by Origination Year
			2023						2022						2021						2020						2019						Prior						Revolving Loans Amortized Cost Basis						Total
			(In thousands)
Multifamily residential
Risk rating 1			$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—
Risk rating 2			—						—						—						—						—						—						—						—
Risk rating 3			3,314						9,827						37,755						44,407						31,436						53,068						6,537						186,344
Risk rating 4			669						77,185						69,546						64,295						8,116						18,490						7,822						246,123
Risk rating 5			—						—						—						—						—						3,006						—						3,006
Risk rating 6			—						—						—						—						263						—						—						263
Risk rating 7			—						—						—						—						—						—						—						—
Risk rating 8			—						—						—						—						—						—						—						—
Total multifamily residential			3,983						87,012						107,301						108,702						39,815						74,564						14,359						435,736
Total real estate			$	1,195,789					$	2,642,599					$	1,669,997					$	906,631					$	632,306					$	2,383,543					$	1,017,288					$	10,448,153
Consumer
Risk rating 1			$	5,195					$	2,952					$	2,002					$	839					$	355					$	1,114					$	1,580					$	14,037
Risk rating 2			—						—						—						—						126						54						—						180
Risk rating 3			240,897						245,543						211,312						108,009						108,063						191,220						1,264						1,106,308
Risk rating 4			9,597						7,534						2,479						69						109						6,073						214						26,075
Risk rating 5			22						—						22						483						872						261						—						1,660
Risk rating 6			204						1,559						830						581						881						1,349						11						5,415
Risk rating 7			15						—						—						—						—						—						—						15
Risk rating 8			—						—						—						—						—						—						—						—
Total consumer			255,930						257,588						216,645						109,981						110,406						200,071						3,069						1,153,690
Commercial and industrial
Risk rating 1			3,757						$	918					$	1,120					$	236					$	121					$	20,835					$	12,644					$	39,631
Risk rating 2			174						1,293						220						12						164						218						963						3,044
Risk rating 3			487,896						272,608						78,507						50,340						77,761						170,610						227,043						1,364,765
Risk rating 4			115,025						34,474						55,812						33,000						27,189						71,854						378,417						715,771
Risk rating 5			21						547						16,318						3,352						201						980						1,767						23,186
Risk rating 6			12,498						75,536						4,942						1,154						9,086						12,180						63,198						178,594
Risk rating 7			—						—						—						—						—						—						—						—
Risk rating 8			—						—						—						—						—						—						—						—
Total commercial and industrial			619,371						385,376						156,919						88,094						114,522						276,677						684,032						2,324,991
Agricultural and other
Risk rating 1			$	408					$	131					$	16					$	105					$	—					$	2					$	563					$	1,225
Risk rating 2			396						28						1						—						1,181						100						693						2,399
Risk rating 3			52,758						45,796						31,378						26,918						3,059						43,984						145,419						349,312
Risk rating 4			14,007						7,663						8,025						955						10,955						3,188						94,186						138,979
Risk rating 5			—						2,286						—						134						—						593						665						3,678
Risk rating 6			71						33						63						108						—						370						1,656						2,301
Risk rating 7			—						—						—						—						—						—						—						—
Risk rating 8			—						—						—						—						—						—						—						—
Total agricultural and other			67,640						55,937						39,483						28,220						15,195						48,237						243,182						497,894
Total			$	2,138,730					$	3,341,500					$	2,083,044					$	1,132,926					$	872,429					$	2,908,528					$	1,947,571					$	14,424,728

			December 31, 2022
			Term Loans Amortized Cost Basis by Origination Year
			2022						2021						2020						2019						2018						Prior						Revolving Loans Amortized Cost Basis						Total
			(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
Risk rating 1			$	—					$	—					$	—					$	237					$	—					$	132					$	85					$	454
Risk rating 2			—						—						—						118						—						3,992						—						4,110
Risk rating 3			616,809						509,269						263,188						279,157						322,278						852,727						374,371						3,217,799
Risk rating 4			438,565						341,047						235,669						161,421						321,188						482,437						139,203						2,119,530
Risk rating 5			—						757						1,145						14,417						35,273						37,561						95						89,248
Risk rating 6			876						196						14,247						26,649						4,720						153,909						194						200,791
Risk rating 7			131						—						—						—						—						—						—						131
Risk rating 8			—						—						—						—						—						—						—						—
Total non-farm/non-residential			1,056,381						851,269						514,249						481,999						683,459						1,530,758						513,948						5,632,063
Construction/land development
Risk rating 1			$	—					$	11					$	—					$	—					$	—					$	—					$	—					$	11
Risk rating 2			682						—						—						—						—						210						—						892
Risk rating 3			421,774						283,546						83,631						48,350						19,340						34,910						75,797						967,348
Risk rating 4			354,852						512,541						58,368						79,924						11,520						43,634						65,960						1,126,799
Risk rating 5			—						—						30,987						310						—						1,140						—						32,437
Risk rating 6			612						—						574						751						3						5,839						—						7,779
Risk rating 7			—						—						—						—						—						—						—						—
Risk rating 8			—						—						—						—						—						—						—						—
Total construction/land development			777,920						796,098						173,560						129,335						30,863						85,733						141,757						2,135,266
Agricultural
Risk rating 1			$	1,749					$	—					$	—					$	—					$	—					$	—					$	—					$	1,749
Risk rating 2			—						2,048						—						—						—						—						—						2,048
Risk rating 3			61,725						43,356						32,895						16,475						10,326						37,892						5,996						208,665
Risk rating 4			18,870						25,252						20,532						8,706						3,154						42,886						4,755						124,155
Risk rating 5			—						—						—						326						—						603						—						929
Risk rating 6			—						1,630						1,623						4,972						—						1,040						—						9,265
Risk rating 7			—						—						—						—						—						—						—						—
Risk rating 8			—						—						—						—						—						—						—						—
Total agricultural			82,344						72,286						55,050						30,479						13,480						82,421						10,751						346,811
Total commercial real estate loans			$	1,916,645					$	1,719,653					$	742,859					$	641,813					$	727,802					$	1,698,912					$	666,456					$	8,114,140
Residential real estate loans
Residential 1-4 family
Risk rating 1			$	—					$	—					$	—					$	—					$	—					$	115					$	40					$	155
Risk rating 2			—						—						—						—						—						48						2						50
Risk rating 3			360,510						255,775						176,955						112,053						98,093						314,492						110,881						1,428,759
Risk rating 4			37,471						35,875						61,418						11,871						15,577						61,034						65,674						288,920
Risk rating 5			—						—						—						3,049						226						328						—						3,603
Risk rating 6			849						2,423						3,564						3,521						2,536						12,662						1,508						27,063
Risk rating 7			—						—						—						—						—						—						—						—
Risk rating 8			—						—						—						—						—						1						—						1
Total residential 1-4 family			398,830						294,073						241,937						130,494						116,432						388,680						178,105						1,748,551

			December 31, 2022
			Term Loans Amortized Cost Basis by Origination Year
			2022						2021						2020						2019						2018						Prior						Revolving Loans Amortized Cost Basis						Total
			(In thousands)
Multifamily residential
Risk rating 1			$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—
Risk rating 2			—						—						—						—						—						—						—						—
Risk rating 3			38,830						37,566						14,127						33,813						13,098						60,117						6,534						204,085
Risk rating 4			43,478						101,282						182,850						8,284						11,934						11,779						1,201						360,808
Risk rating 5			—						—						—						—						3,142						7,897						—						11,039
Risk rating 6			—						—						—						302						—						1,818						—						2,120
Risk rating 7			—						—						—						—						—						—						—						—
Risk rating 8			—						—						—						—						—						—						—						—
Total multifamily residential			82,308						138,848						196,977						42,399						28,174						81,611						7,735						578,052
Total real estate			$	2,397,783					$	2,152,574					$	1,181,773					$	814,706					$	872,408					$	2,169,203					$	852,296					$	10,440,743
Consumer
Risk rating 1			$	5,332					$	3,952					$	1,134					$	637					$	552					$	1,176					$	1,467					$	14,250
Risk rating 2			—						—						—						193						614						—						—						807
Risk rating 3			284,828						276,044						146,256						132,763						118,244						135,266						16,093						1,109,494
Risk rating 4			15,306						2,293						422						1,216						459						907						69						20,672
Risk rating 5			—						633						19						—						8						810						—						1,470
Risk rating 6			215						156						270						970						24						1,386						101						3,122
Risk rating 7			—						—						—						—						—						—						—						—
Risk rating 8			3						—						1						—						—						77						—						81
Total consumer			305,684						283,078						148,102						135,779						119,901						139,622						17,730						1,149,896
Commercial and industrial
Risk rating 1			$	3,450					$	7,692					$	268					$	264					$	16					$	21,298					$	8,832					$	41,820
Risk rating 2			1,590						305						27						198						—						226						781						3,127
Risk rating 3			301,063						126,312						80,636						73,360						71,964						112,017						253,111						1,018,463
Risk rating 4			70,862						120,618						69,963						89,975						81,389						48,496						568,795						1,050,098
Risk rating 5			83,272						14,762						159						1,408						6,815						185						75,891						182,492
Risk rating 6			4,842						2,539						11,204						4,193						5,769						16,559						3,554						48,660
Risk rating 7			—						—						—						—						4,316						202						85						4,603
Risk rating 8			—						—						—						—						—						—						—						—
Total commercial and industrial			465,079						272,228						162,257						169,398						170,269						198,983						911,049						2,349,263
Agricultural and other
Risk rating 1			$	297					$	266					$	115					$	—					$	—					$	95					$	722					$	1,495
Risk rating 2			140						78						—						2,338						34						115						1,661						4,366
Risk rating 3			85,707						36,004						30,546						4,725						7,986						46,748						131,760						343,476
Risk rating 4			7,627						13,591						2,598						1,671						1,710						8,766						69,179						105,142
Risk rating 5			—						8						204						—						—						593						745						1,550
Risk rating 6			—						58						157						11,137						304						949						944						13,549
Risk rating 7			—						—						—						—						—						—						—						—
Risk rating 8			—						—						—						—						—						—						—						—
Total agricultural and other			93,771						50,005						33,620						19,871						10,034						57,266						205,011						469,578
Total			$	3,262,317					$	2,757,885					$	1,525,752					$	1,139,754					$	1,172,612					$	2,565,074					$	1,986,086					$	14,409,480

The following table presents gross write-offs by origination date for the year ended December 31, 2023.

			December 31, 2023
			Term Loans Amortized Cost Basis by Origination Year
			2023						2022						2021						2020						2019						Prior						Revolving Loans Amortized Cost Basis						Total
			(In thousands)
Real estate
Commercial real estate loans
Non-farm/non-residential			$	—					$	—					$	—					$	—					$	1,826					$	502					$	—					$	2,328
Construction/land development			—						2						168						5						—						88						—						263
Agricultural			—						—						—						—						1						6						—						7
Residential real estate loans
Residential 1-4 family			—						29						28						73						13						126						—						269
Total real estate			—						31						196						78						1,840						722						—						2,867
Consumer			—						51						44						98						63						263						25						544
Commercial and industrial			—						407						1,110						894						911						5,369						466						9,157
Agricultural & other			3,252			*			1						1						2						64						3						164						3,487
Total			$	3,252					$	490					$	1,351					$	1,072					$	2,878					$	6,357					$	655					$	16,055

*The 2023 write-off primarily consists of overdrafts.

The Company considers the performance of the loan portfolio and its impact on the allowance for credit losses. The Company also evaluates credit quality based on the aging status of the loan, which was previously presented and by payment activity. The following tables present the amortized cost of performing and nonperforming loans as of December 31, 2023 and 2022.

			December 31, 2023
			Term Loans Amortized Cost Basis by Origination Year
			2023						2022						2021						2020						2019						Prior						Revolving Loans Amortized Cost Basis						Total
			(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
Performing			$	388,831					$	1,150,598					$	821,373					$	490,153					$	404,061					$	1,718,776					$	536,349					$	5,510,141
Non-performing			—						—						9,215						1,145						761						28,359						333						39,813
Total non-farm/ non-residential			388,831						1,150,598						830,588						491,298						404,822						1,747,135						536,682						5,549,954
Construction/land development
Performing			501,215						918,390						382,954						88,204						55,239						81,028						253,667						2,280,697
Non-performing			—						7,818						1,703						697						618						188						1,326						12,350
Total construction/ land development			501,215						926,208						384,657						88,901						55,857						81,216						254,993						2,293,047
Agricultural
Performing			$	39,976					$	69,584					$	46,809					$	46,608					$	20,485					$	76,547					$	24,716					$	324,725
Non-performing			—						—						79						—						—						352						—						431
Total agricultural			39,976						69,584						46,888						46,608						20,485						76,899						24,716						325,156
Total commercial real estate loans			$	930,022					$	2,146,390					$	1,262,133					$	626,807					$	481,164					$	1,905,250					$	816,391					$	8,168,157
Residential real estate loans
Residential 1-4 family
Performing			$	261,784					$	405,239					$	298,207					$	167,475					$	108,091					$	396,130					$	185,948					$	1,822,874
Non-performing			—						3,958						2,356						3,647						3,236						7,599						590						21,386
Total residential 1-4 family			261,784						409,197						300,563						171,122						111,327						403,729						186,538						1,844,260
Multifamily residential
Performing			$	3,983					$	87,012					$	107,301					$	108,702					$	39,815					$	74,564					$	14,359					$	435,736
Non-performing			—						—						—						—						—						—						—						—
Total multifamily residential			3,983						87,012						107,301						108,702						39,815						74,564						14,359						435,736
Total real estate			1,195,789						2,642,599						1,669,997						906,631						632,306						2,383,543						1,017,288						10,448,153
Consumer
Performing			$	255,771					$	256,826					$	215,831					$	109,442					$	110,267					$	198,982					$	3,060					$	1,150,179
Non-performing			159						762						814						539						139						1,089						9						3,511
Total consumer			255,930						257,588						216,645						109,981						110,406						200,071						3,069						1,153,690
Commercial and industrial
Performing			$	616,809					$	382,190					$	156,056					$	87,531					$	111,529					$	273,434					$	680,552					$	2,308,101
Non-performing			2,562						3,186						863						563						2,993						3,243						3,480						16,890
Total commercial and industrial			619,371						385,376						156,919						88,094						114,522						276,677						684,032						2,324,991
Agricultural and other
Performing			$	67,569					$	55,904					$	39,473					$	28,220					$	15,195					$	48,203					$	242,818					$	497,382
Non-performing			71						33						10						—						—						34						364						512
Total agricultural and other			67,640						55,937						39,483						28,220						15,195						48,237						243,182						497,894
Total			$	2,138,730					$	3,341,500					$	2,083,044					$	1,132,926					$	872,429					$	2,908,528					$	1,947,571					$	14,424,728

			December 31, 2022
			Term Loans Amortized Cost Basis by Origination Year
			2022						2021						2020						2019						2018						Prior						Revolving Loans Amortized Cost Basis						Total
			(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
Performing			$	1,056,381					$	851,269					$	509,258					$	456,196					$	679,187					$	1,403,874					$	513,630					$	5,469,795
Non-performing			—						—						4,991						25,803						4,272						126,884						318						162,268
Total non-farm/ non-residential			1,056,381						851,269						514,249						481,999						683,459						1,530,758						513,948						5,632,063
Construction/land development
Performing			777,309						796,098						172,987						128,736						30,860						85,511						141,757						2,133,258
Non-performing			611						—						573						599						3						222						—						2,008
Total construction/ land development			777,920						796,098						173,560						129,335						30,863						85,733						141,757						2,135,266
Agricultural
Performing			$	82,344					$	72,286					$	55,050					$	30,479					$	13,480					$	82,143					$	10,751					$	346,533
Non-performing			—						—						—						—						—						278						—						278
Total agricultural			82,344						72,286						55,050						30,479						13,480						82,421						10,751						346,811
Total commercial real estate loans			$	1,916,645					$	1,719,653					$	742,859					$	641,813					$	727,802					$	1,698,912					$	666,456					$	8,114,140
Residential real estate loans
Residential 1-4 family
Performing			$	397,464					$	292,100					$	239,047					$	127,250					$	114,337					$	380,210					$	177,311					$	1,727,719
Non-performing			1,366						1,973						2,890						3,244						2,095						8,470						794						20,832
Total residential 1-4 family			398,830						294,073						241,937						130,494						116,432						388,680						178,105						1,748,551
Multifamily residential
Performing			$	82,308					$	138,848					$	196,977					$	42,399					$	28,174					$	80,642					$	7,735					$	577,083
Non-performing			—						—						—						—						—						969						—						969
Total multifamily residential			82,308						138,848						196,977						42,399						28,174						81,611						7,735						578,052
Total real estate			2,397,783						2,152,574						1,181,773						814,706						872,408						2,169,203						852,296						10,440,743
Consumer
Performing			$	305,620					$	282,944					$	147,820					$	134,831					$	119,877					$	138,288					$	17,628					$	1,147,008
Non-performing			64						134						282						948						24						1,334						102						2,888
Total consumer			305,684						283,078						148,102						135,779						119,901						139,622						17,730						1,149,896
Commercial and industrial
Performing			$	464,285					$	267,719					$	159,152					$	165,733					$	160,267					$	194,162					$	907,611					$	2,318,929
Non-performing			794						4,509						3,105						3,665						10,002						4,821						3,438						30,334
Total commercial and industrial			465,079						272,228						162,257						169,398						170,269						198,983						911,049						2,349,263
Agricultural and other
Performing			$	93,771					$	50,001					$	33,416					$	19,818					$	10,034					$	56,631					$	204,380					$	468,051
Non-performing			—						4						204						53						—						635						631						1,527
Total agricultural and other			93,771						50,005						33,620						19,871						10,034						57,266						205,011						469,578
Total			$	3,262,317					$	2,757,885					$	1,525,752					$	1,139,754					$	1,172,612					$	2,565,074					$	1,986,086					$	14,409,480

Presentation of Troubled Debt Restructurings ("TDRs") by Class

The following table presents the amortized cost basis of modified loans to borrowers experiencing financial difficulty by class and modification type at December 31, 2023. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivable is also presented below.

			December 31, 2023
																											Combination of Modifications
			Term Extension						Interest Rate Reduction						Principal Reduction						Interest Only						Interest Rate Reduction and Term Extension						Principal Reduction and Interest Rate Reduction						Term Extension and Interest Only						Term Extension and Principal Reduction						Post- Modification Outstanding Balance						Percentage of Total Class of Loans Receivable
			(Dollars in thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential			$	398					$	—					$	—					$	1,537					$	348					$	—					$	16,023					$	—					$	18,306					0.33		%
Construction/land development			—						—						—						149						—						—						—						—						149						0.01		%
Residential real estate loans
Residential 1-4 family			560						598						106						59						516						—						—						116						1,955						0.11		%
Total real estate			958						598						106						1,745						864						—						16,023						116						20,410						0.20		%
Consumer			14						—						1						10						—						5						—						—						30						—		%
Commercial and industrial			2,253						38						42						1,763						74						—						—						—						4,170						0.18		%
Total			$	3,225					$	636					$	149					$	3,518					$	938					$	5					$	16,023					$	116					$	24,610					0.17		%

During the year ended December 31, 2023, the Company restructured approximately $19.5 million in loans to 21 borrowers. The ending balance of these loans as of December 31, 2023, was $21.0 million. The Company considered the financial effect of these loan modifications to borrowers experiencing financial difficulty during the year ended December 31, 2023 immaterial for tabular disclosure inclusion. Three of the modified loans accounted for $18.2 million of the total post-modification outstanding balance. Two of the loans involved the loans being placed on interest only payments for 36 months and the term being extended an additional 36 months while the interest rate was increased by 9 basis points. The third loan involved a new loan being underwritten resulting in the term being extended by approximately 49 months and the interest rate increasing by 3.45 percentage points. None of the $24.6 million in restructured loans held by the Company were considered to be collateral dependent as of December 31, 2023.

The following table presents the amortized cost basis of loans that had a payment default during the year ended December 31, 2023 and were modified in the twelve months prior to that default to borrowers experiencing financial difficulty.

			December 31, 2023
			Term Extension						Interest Rate Reduction						Principal Reduction						Interest Only						Combination Interest Rate Reduction and Term Extension						Combination Interest Rate Reduction and Principal Reduction						Combination Term Extension and Principal Reduction
			(Dollars in thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential			$	—					$	—					$	—					$	—					$	—					$	—					$	—
Construction/land development			—						—						—						—						—						—						—
Agricultural			—						—						—						—						—						—						—
Residential real estate loans																											—
Residential 1-4 family			299						105						9						—						328						—						116
Total real estate			299						105						9						—						328						—						116
Consumer			14						—						—						29						—						5						—
Commercial and industrial			—						—						—						—						—						—						—
Total			$	313					$	105					$	9					$	29					$	328					$	5					$	116

The Company closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The Company has modified 21 loans over the past 12 months to borrowers experiencing financial difficulty. The pre-modification balance of the loans was $19.5 million, and the ending balance as of December 31, 2023 was $21.0 million. The $21.0 million balance consists of $905,000 of non-accrual loans and $20.1 million of current loans, of which $1.5 million were 60-89 days past due as of December 31, 2023. The remaining balance of the loans was current as of December 31, 2023.

The following is a presentation of troubled debt restructurings (“TDRs”) by class as of December 31, 2022:

			December 31, 2022
			Number of Loans						Pre- Modification Outstanding Balance						Rate Modification						Term Modification						Rate & Term Modification						Post- Modification Outstanding Balance
			(Dollars in thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential			11						$	4,462					$	1,395					$	598					$	436					$	2,429
Construction/land development			1						216						177						—						—						177
Residential real estate loans
Residential 1-4 family			14						2,115						772						145						290						1,207
Multifamily residential			1						1,130						969						—						—						969
Total real estate			27						7,923						3,313						743						726						4,782
Consumer			2						18						11						—						1						12
Commercial and industrial			15						3,199						748						47						156						951
Total			44						$	11,140					$	4,072					$	790					$	883					$	5,745

Presentation of TDR's on Non-Accrual Status

The following is a presentation of TDRs on non-accrual status as of December 31, 2022 because they are not in compliance with the modified terms:

			December 31, 2022
			Number of Loans						Recorded Balance
Real estate:
Commercial real estate loans
Non-farm/non-residential			2						$	262
Construction/land development			1						177
Residential real estate loans
Residential 1-4 family			4						218
Total real estate			7						657
Consumer			1						1
Commercial and industrial			13						931
Total			21						$	1,589

Summary of Total Foreclosed Assets

The following is a presentation of total foreclosed assets as of December 31, 2023 and 2022:

			December 31, 2023						December 31, 2022
			(In thousands)
Commercial real estate loans
Non-farm/non-residential			$	29,894					$	118
Construction/land development			47						47
Residential real estate loans
Residential 1-4 family			545						260
Multifamily residential			—						121
Total foreclosed assets held for sale			$	30,486					$	546

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Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479319/326-20-50-5

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 29
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-29

+ Details

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Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of impaired financing receivables.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-15

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Namespace Prefix:	us-gaap_
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X

- References

No definition available.

+ Details

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Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
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X

- Definition

Tabular disclosure of financing receivable on nonaccrual status.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479319/326-20-50-16

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-7

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X

- Definition

Tabular disclosure of financing receivable modified for debtor experiencing financial difficulty.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481933/310-10-55-12A

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-42

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 310
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-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-42

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 33
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-33

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-34

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