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

6 Months Ended

Jun. 30, 2024

Receivables [Abstract]

Balance of Allowance for Credit Losses

The following table presents the activity in the allowance for credit losses for the three and six months ended June 30, 2024:

			Three Months Ended June 30, 2024
			Construction/ Land Development						Other Commercial Real Estate						Residential Real Estate						Commercial & Industrial						Consumer & Other						Total
			(In thousands)
Allowance for credit losses:
Beginning balance			$	35,921					$	79,128					$	56,903					$	91,008					$	27,334					$	290,294
Loans charged off			(80)						(62)						(59)						(2,013)						(884)						(3,098)
Recoveries of loans previously charged off			82						5						76						259						238						660
Net loans recovered (charged off)			2						(57)						17						(1,754)						(646)						(2,438)
Provision for credit losses			22,750						7,771						(5,566)						(19,619)						2,664						8,000
Balance, June 30			$	58,673					$	86,842					$	51,354					$	69,635					$	29,352					$	295,856

			Six Months Ended June 30, 2024
			Construction/ Land Development						Other Commercial Real Estate						Residential Real Estate						Commercial & Industrial						Consumer & Other						Total
			(In thousands)
Allowance for credit losses:
Beginning balance			$	33,877					$	78,635					$	55,860					$	92,810					$	27,052					$	288,234
Loans charged off			(81)						(1,164)						(218)						(3,759)						(1,854)						(7,076)
Recoveries of loans previously charged off			89						25						95						360						629						1,198
Net loans recovered (charged off)			8						(1,139)						(123)						(3,399)						(1,225)						(5,878)
Provision for credit losses			24,788						9,346						(4,383)						(19,776)						3,525						13,500
Balance, June 30			$	58,673					$	86,842					$	51,354					$	69,635					$	29,352					$	295,856

During the second quarter of 2024, the Company implemented updated allowance for credit loss models as part of the annual model review and challenge process. In light of the current commercial real estate ("CRE") environment, the allowance calculation called for a higher level of reserves for the CRE portfolio and a corresponding reduction in reserves for the commercial and industrial portfolio.

The following table presents the activity in the allowance for credit losses for the three and six months ended June 30, 2023 and the year ended December 31, 2023:

			Three Months Ended June 30, 2023
			Construction/ Land Development						Other Commercial Real Estate						Residential Real Estate						Commercial & Industrial						Consumer & Other						Total
			(In thousands)
Allowance for credit losses:
Beginning balance			$	31,172					$	86,978					$	51,433					$	92,396					$	25,190					$	287,169
Loans charged off			—						—						(30)						(3,826)						(870)						(4,726)
Recoveries of loans previously charged off			63						473						13						147						244						940
Net loans recovered (charged off)			63						473						(17)						(3,679)						(626)						(3,786)
Provision for credit losses			1,040						(2,293)						316						1,757						1,480						2,300
Balance, June 30			$	32,275					$	85,158					$	51,732					$	90,474					$	26,044					$	285,683

			Six Months Ended June 30, 2023 and 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			(25)						(73)						(89)						(6,832)						(1,995)						(9,014)
Recoveries of loans previously charged off			70						492						139						256						571						1,528
Net loans (charged off) recovered			45						419						50						(6,576)						(1,424)						(7,486)
Provision for credit loss - loans			(13)						(9,109)						719						7,696						4,207						3,500
Balance, June 30			32,275						85,158						51,732						90,474						26,044						285,683
Loans charged off			(238)						(2,262)						(180)						(2,325)						(2,036)						(7,041)
Recoveries of loans previously charged off			43						41						190						327						541						1,142
Net loans (charged off) recovered			(195)						(2,221)						10						(1,998)						(1,495)						(5,899)
Provision for credit loss - loans			1,797						(4,302)						4,118						4,334						2,503						8,450
Balance, December 31			$	33,877					$	78,635					$	55,860					$	92,810					$	27,052					$	288,234

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 June 30, 2024 and December 31, 2023:

			June 30, 2024
			Nonaccrual						Nonaccrual with Reserve						Loans Past Due Over 90 Days Still Accruing
			(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential			$	35,621					$	—					$	4,387
Construction/land development			5,516						—						603
Agricultural			612						—						—
Residential real estate loans
Residential 1-4 family			23,051						—						716
Total real estate			64,800						—						5,706
Consumer			3,908						—						10
Commercial and industrial			9,226						2,252						2,463
Agricultural & other			156						—						72
Total			$	78,090					$	2,252					$	8,251

			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

Amortized Cost Basis of Collateral-dependent Impaired Loans

The following table presents the amortized cost basis of impaired 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) by class of loans as of June 30, 2024 and December 31, 2023:

			June 30, 2024
			Commercial Real Estate						Residential Real Estate						Other
			(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential			$	45,660					$	—					$	—
Construction/land development			6,119						—						—
Agricultural			612						—						—
Residential real estate loans
Residential 1-4 family			—						25,149						—
Multifamily residential			—						—						—
Total real estate			52,391						25,149						—
Consumer			—						—						3,928
Commercial and industrial			—						—						13,969
Agricultural & other			—						—						228
Total			$	52,391					$	25,149					$	18,125

			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

Summary of Aging Analysis for Loans Receivable

The following is an aging analysis for loans receivable as of June 30, 2024 and December 31, 2023:

			June 30, 2024
			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			$	3,136					$	1,268					$	40,008					$	44,412					$	5,555,513					$	5,599,925					$	4,387
Construction/land development			237						499						6,119						6,855						2,504,962						2,511,817						603
Agricultural			352						—						612						964						344,497						345,461						—
Residential real estate loans
Residential 1-4 family			7,207						2,556						23,767						33,530						1,876,613						1,910,143						716
Multifamily residential			20,893						150						—						21,043						488,048						509,091						—
Total real estate			31,825						4,473						70,506						106,804						10,769,633						10,876,437						5,706
Consumer			6,426						1,370						3,918						11,714						1,177,672						1,189,386						10
Commercial and industrial			3,622						413						11,689						15,724						2,226,348						2,242,072						2,463
Agricultural & other			1,331						33						228						1,592						471,970						473,562						72
Total			$	43,204					$	6,289					$	86,341					$	135,834					$	14,645,623					$	14,781,457					$	8,251

			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

Presentation of Classified Loans by Class and Risk Rating

Based on the most recent analysis performed, the risk category of loans by class of loans as of June 30, 2024 and December 31, 2023 is as follows:

			June 30, 2024
			Term Loans Amortized Cost Basis by Origination Year
			2024						2023						2022						2021						2020						Prior						Revolving Loans Amortized Cost Basis						Total
			(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
Risk rating 1			$	—					$	—					$	—					$	—					$	—					$	337					$	100					$	437
Risk rating 2			—						—						—						—						—						107						—						107
Risk rating 3			159,400						333,618						586,086						571,400						234,210						1,062,803						251,992						3,199,509
Risk rating 4			86,980						162,414						407,638						266,750						149,629						706,573						343,145						2,123,129
Risk rating 5			—						—						—						10,006						—						23,751						320						34,077
Risk rating 6			—						—						8,167						1,330						24,000						209,074						95						242,666
Risk rating 7			—						—						—						—						—						—						—						—
Risk rating 8			—						—						—						—						—						—						—						—
Total non-farm/non-residential			246,380						496,032						1,001,891						849,486						407,839						2,002,645						595,652						5,599,925
Construction/land development
Risk rating 1			$	—					$	—					$	—					$	10					$	—					$	—					$	—					$	10
Risk rating 2			—						137						—						—						—						172						—						309
Risk rating 3			248,129						376,645						440,356						97,052						48,293						69,645						55,009						1,335,129
Risk rating 4			67,335						182,148						502,703						178,296						11,237						23,070						204,026						1,168,815
Risk rating 5			—						629						—						—						—						—						—						629
Risk rating 6			—						74						2,624						1,340						896						976						943						6,853
Risk rating 7			—						—						—						—						—						—						—						—
Risk rating 8			—						—						—						72						—						—						—						72
Total construction/land development			315,464						559,633						945,683						276,770						60,426						93,863						259,978						2,511,817
Agricultural
Risk rating 1			$	700					$	—					$	1,514					$	—					$	—					$	—					$	—					$	2,214
Risk rating 2			280						—						—						1,881						—						—						—						2,161
Risk rating 3			25,657						244						41,696						19,434						23,432						47,780						26,501						184,744
Risk rating 4			10,015						35,580						22,759						17,951						13,272						38,084						4,640						142,301
Risk rating 5			—						9,364						—						—						—						571						—						9,935
Risk rating 6			—						—						—						1,621						1,084						1,401						—						4,106
Risk rating 7			—						—						—						—						—						—						—						—
Risk rating 8			—						—						—						—						—						—						—						—
Total agricultural			36,652						45,188						65,969						40,887						37,788						87,836						31,141						345,461
Total commercial real estate loans			$	598,496					$	1,100,853					$	2,013,543					$	1,167,143					$	506,053					$	2,184,344					$	886,771					$	8,457,203
Residential real estate loans
Residential 1-4 family
Risk rating 1			$	—					$	—					$	—					$	—					$	—					$	94					$	2					$	96
Risk rating 2			—						243						—						—						—						12						6						261
Risk rating 3			121,211						223,643						379,047						238,461						137,141						379,860						122,666						1,602,029
Risk rating 4			6,082						19,129						43,260						26,204						20,053						74,332						80,322						269,382
Risk rating 5			—						1,018						999						148						534						1,057						778						4,534
Risk rating 6			—						1,456						7,359						3,561						4,390						16,302						771						33,839
Risk rating 7			—						—						—						—						—						—						—						—
Risk rating 8			—						—						—						—						—						2						—						2
Total residential 1-4 family			127,293						245,489						430,665						268,374						162,118						471,659						204,545						1,910,143

			June 30, 2024
			Term Loans Amortized Cost Basis by Origination Year
			2024						2023						2022						2021						2020						Prior						Revolving Loans Amortized Cost Basis						Total
			(In thousands)
Multifamily residential
Risk rating 1			$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—
Risk rating 2			—						—						—						—						—						—						—						—
Risk rating 3			56,867						3,289						20,471						37,276						42,392						79,577						6,997						246,869
Risk rating 4			—						693						127,076						37,964						59,143						22,109						14,845						261,830
Risk rating 5			—						—						—						—						—						—						—						—
Risk rating 6			—						—						150						—						—						242						—						392
Risk rating 7			—						—						—						—						—						—						—						—
Risk rating 8			—						—						—						—						—						—						—						—
Total multifamily residential			56,867						3,982						147,697						75,240						101,535						101,928						21,842						509,091
Total real estate			$	782,656					$	1,350,324					$	2,591,905					$	1,510,757					$	769,706					$	2,757,931					$	1,113,158					$	10,876,437
Consumer
Risk rating 1			$	3,316					$	3,156					$	2,208					$	1,597					$	711					$	1,152					$	1,412					$	13,552
Risk rating 2			—						—						—						—						—						160						—						160
Risk rating 3			135,047						216,100						228,339						191,597						97,199						270,424						1,169						1,139,875
Risk rating 4			2,241						7,435						7,726						836						32						5,622						200						24,092
Risk rating 5			—						5,058						5						222						158						1,290						—						6,733
Risk rating 6			8						270						1,470						374						693						2,117						25						4,957
Risk rating 7			—						11						—						—						—						—						—						11
Risk rating 8			—						—						—						6						—						—						—						6
Total consumer			140,612						232,030						239,748						194,632						98,793						280,765						2,806						1,189,386
Commercial and industrial
Risk rating 1			$	2,809					$	1,653					$	825					$	723					$	225					$	21,356					$	10,686					$	38,277
Risk rating 2			50						146						1,148						197						7						21						1,434						3,003
Risk rating 3			51,250						529,271						247,437						67,550						55,698						215,339						233,385						1,399,930
Risk rating 4			59,084						32,995						32,387						43,482						19,359						71,144						377,237						635,688
Risk rating 5			—						73						229						15,677						3,394						—						1,320						20,693
Risk rating 6			23						12,313						71,800						5,582						568						13,922						40,234						144,442
Risk rating 7			—						—						—						—						—						1						—						1
Risk rating 8			—						1						—						—						—						37						—						38
Total commercial and industrial			113,216						576,452						353,826						133,211						79,251						321,820						664,296						2,242,072
Agricultural and other
Risk rating 1			$	818					$	397					$	120					$	16					$	105					$	—					$	532					$	1,988
Risk rating 2			340						306						28						—						—						1,181						810						2,665
Risk rating 3			35,973						51,607						39,854						29,392						24,999						40,000						135,539						357,364
Risk rating 4			11,999						6,638						9,705						6,137						592						13,637						61,035						109,743
Risk rating 5			—						—						312						46						61						593						175						1,187
Risk rating 6			—						4						28						—						97						357						129						615
Risk rating 7			—						—						—						—						—						—						—						—
Risk rating 8			—						—						—						—						—						—						—						—
Total agricultural and other			49,130						58,952						50,047						35,591						25,854						55,768						198,220						473,562
Total			$	1,085,614					$	2,217,758					$	3,235,526					$	1,874,191					$	973,604					$	3,416,284					$	1,978,480					$	14,781,457

			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

The following table presents gross write-offs by origination date as of June 30, 2024 and December 31, 2023.

			June 30, 2024
			Gross Loan Write-Offs by Origination Year
			2024						2023						2022						2021						2020						Prior						Revolving Loans Amortized Cost Basis						Total
			(In thousands)
Real estate
Commercial real estate loans
Non-farm/non-residential			$	—					$	—					$	—					$	780					$	1					$	383					$	—					$	1,164
Construction/land development			—						—						—						48						1						32						—						81
Agricultural			—						—						—						—						—						—						—						—
Residential real estate loans
Residential 1-4 family			—						1						101						—						26						90						—						218
Total real estate			—						1						101						828						28						505						—						1,463
Consumer			4						57						56						36						105						139						—						397
Commercial and industrial			—						557						71						258						5						102						2,766						3,759
Agricultural & other			1,386			*			71						—						—						—						—						—						1,457
Total			$	1,390					$	686					$	228					$	1,122					$	138					$	746					$	2,766					$	7,076

*The 2024 write-off consists entirely of overdrafts.

			December 31, 2023
			Gross Loan Write-Offs 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-offs consist entirely 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 June 30, 2024 and December 31, 2023.

			June 30, 2024
			Term Loans Amortized Cost Basis by Origination Year
			2024						2023						2022						2021						2020						Prior						Revolving Loans Amortized Cost Basis						Total
			(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
Performing			$	246,380					$	496,032					$	1,001,833					$	848,885					$	406,448					$	1,959,115					$	595,572					$	5,554,265
Non-performing			—						—						58						601						1,391						43,530						80						45,660
Total non-farm/non-residential			246,380						496,032						1,001,891						849,486						407,839						2,002,645						595,652						5,599,925
Construction/land development
Performing			$	315,464					$	559,633					$	943,476					$	275,358					$	59,649					$	93,082					$	259,036					$	2,505,698
Non-performing			—						—						2,207						1,412						777						781						942						6,119
Total construction/ land development			315,464						559,633						945,683						276,770						60,426						93,863						259,978						2,511,817
Agricultural
Performing			$	36,652					$	45,188					$	65,969					$	40,821					$	37,788					$	87,290					$	31,141					$	344,849
Non-performing			—						—						—						66						—						546						—						612
Total agricultural			36,652						45,188						65,969						40,887						37,788						87,836						31,141						345,461
Total commercial real estate loans			$	598,496					$	1,100,853					$	2,013,543					$	1,167,143					$	506,053					$	2,184,344					$	886,771					$	8,457,203
Residential real estate loans
Residential 1-4 family
Performing			$	127,293					$	244,414					$	426,495					$	264,868					$	158,533					$	459,240					$	204,151					$	1,884,994
Non-performing			—						1,075						4,170						3,506						3,585						12,419						394						25,149
Total residential 1-4 family			127,293						245,489						430,665						268,374						162,118						471,659						204,545						1,910,143
Multifamily residential
Performing			$	56,867					$	3,982					$	147,697					$	75,240					$	101,535					$	101,928					$	21,842					$	509,091
Non-performing			—						—						—						—						—						—						—						—
Total multifamily residential			56,867						3,982						147,697						75,240						101,535						101,928						21,842						509,091
Total real estate			$	782,656					$	1,350,324					$	2,591,905					$	1,510,757					$	769,706					$	2,757,931					$	1,113,158					$	10,876,437
Consumer
Performing			$	140,604					$	231,803					$	239,118					$	194,331					$	98,132					$	278,684					$	2,786					$	1,185,458
Non-performing			8						227						630						301						661						2,081						20						3,928
Total consumer			140,612						232,030						239,748						194,632						98,793						280,765						2,806						1,189,386
Commercial and industrial
Performing			$	113,216					$	573,528					$	350,689					$	132,118					$	78,770					$	316,636					$	663,146					$	2,228,103
Non-performing			—						2,924						3,137						1,093						481						5,184						1,150						13,969
Total commercial and industrial			113,216						576,452						353,826						133,211						79,251						321,820						664,296						2,242,072
Agricultural and other
Performing			$	49,130					$	58,948					$	50,019					$	35,545					$	25,854					$	55,739					$	198,099					$	473,334
Non-performing			—						4						28						46						—						29						121						228
Total agricultural and other			49,130						58,952						50,047						35,591						25,854						55,768						198,220						473,562
Total			$	1,085,614					$	2,217,758					$	3,235,526					$	1,874,191					$	973,604					$	3,416,284					$	1,978,480					$	14,781,457

			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

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 June 30, 2024 and 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.

			June 30, 2024
																											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
			(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential			$	391					$	—					$	—					$	1,363					$	344					$	—					$	16,023					$	—					$	18,121					0.32		%
Construction/land development			—						—						—						117						—						—						—						—						117						—
Residential real estate loans
Residential 1-4 family			940						975						104						23						627						—						—						118						2,787						0.15
Total real estate			1,331						975						104						1,503						971						—						16,023						118						21,025						0.19
Consumer			6						11						—						10						—						3						—						—						30						—
Commercial and industrial			2,282						—						—						1,042						74						—						—						—						3,398						0.15
Total			$	3,619					$	986					$	104					$	2,555					$	1,045					$	3					$	16,023					$	118					$	24,453					0.17		%

			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
			(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		%

Presentation of TDR's on Non-Accrual Status

The following table presents the amortized cost basis of loans that had a payment default during the six months ended June 30, 2024 and were modified in the twelve months prior to that default to borrowers experiencing financial difficulty.

			June 30, 2024
			Term Extension						Interest Rate Reduction												Interest Only						Combination Interest Rate Reduction and Term Extension
			(Dollars in thousands)
Real estate
Commercial real estate loans
Non-farm/non-residential			$	—					$	—											$	—					$	—
Residential real estate loans
Residential 1-4 family			255						518												—						413
Total real estate			255						518												—						413
Consumer			6						11												—						—
Commercial and industrial			—						—												28						—
Total			$	261					$	529											$	28					$	413

Summary of Total Foreclosed Assets

The following is a presentation of total foreclosed assets as of June 30, 2024 and December 31, 2023:

			June 30, 2024						December 31, 2023
			(In thousands)
Commercial real estate loans
Non-farm/non-residential			$	29,824					$	29,894
Construction/land development			10,882						47
Residential real estate loans
Residential 1-4 family			641						545
Total foreclosed assets held for sale			$	41,347					$	30,486

X

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Schedule of collateral dependent impaired loans by class.

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- Definition

Schedule of recorded investment in loans held for investment and related allowance for loan losses by portfolio segment.

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- Definition

Tabular disclosure of troubled debt restructurings on non-accrual status.

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Tabular disclosure of allowance for credit loss on financing receivable.

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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.

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Tabular disclosure of impaired financing receivables.

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Tabular disclosure of financing receivable on nonaccrual status.

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

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