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Allowance for Credit Losses (Tables)
12 Months Ended
Dec. 31, 2024
Allowance for Credit Losses  
Schedule of commercial real estate loan portfolio disaggregated by the type of real estate securing the credit

December 31, 2024

December 31, 2023

(Dollars in Thousands)

(Dollars in Thousands)

    

Amount

    

Percent of Total

    

Amount

    

Percent of Total

Commercial real estate:

Commercial real estate construction development

$

1,313,984

23.0

%  

$

1,035,936

19.6

%

Hotel

 

1,080,706

 

18.9

 

1,116,539

 

21.1

Retail multi-tenant

 

738,874

 

12.9

 

699,145

 

13.2

Lot development: residential and commercial lots

 

513,760

 

9.0

 

548,797

 

10.4

Warehouse

 

435,783

 

7.6

 

355,635

 

6.7

Office/Professional buildings

 

416,014

 

7.3

 

311,413

 

5.9

1 - 4 family construction

338,832

5.9

329,828

6.2

Multi-family

310,115

5.4

380,839

7.2

Owner occupied real estate

270,584

4.7

246,797

4.7

Commercial leased properties

194,023

3.4

167,539

3.2

Farmland

109,697

1.9

97,812

1.8

Total commercial real estate

$

5,722,372

$

100.0

%  

$

5,290,280

$

100.0

%

Loans individually or collectively evaluated for their impairment and related allowance, by loan class

December 31, 2024

 

Domestic

Foreign

 

Commercial

 

   

real estate:

   

   

   

   

   

   

   

 

 

other

 

Commercial

 

construction &

 

real estate:

Commercial

 

land

farmland &

real estate:

Residential:

Residential:

Commercial

development

commercial

multifamily

first lien

junior lien

Consumer

Foreign

Total

 

(Dollars in Thousands)

Balance at December 31, 2023

    

$

35,550

$

55,291

$

42,703

$

5,088

$

5,812

$

11,024

$

318

$

1,283

$

157,069

Losses charged to allowance

 

(34,149)

 

(2,228)

 

 

(46)

 

 

(185)

 

 

(36,608)

Recoveries credited to allowance

 

4,079

 

 

20

 

 

38

 

123

 

13

 

1

 

4,274

Net losses charged to allowance

 

(30,070)

 

(2,228)

 

20

 

 

(8)

 

123

 

(172)

 

1

 

(32,334)

Provision (credit) charged to operations

 

24,373

7,576

 

1,267

 

(219)

 

(276)

 

(1,116)

 

135

 

62

 

31,802

Balance at December 31, 2024

$

29,853

$

60,639

$

43,990

$

4,869

$

5,528

$

10,031

$

281

$

1,346

$

156,537

December 31, 2023

 

Domestic

Foreign

 

    

Commercial

   

   

   

   

   

   

   

 

real estate:

 

 

other

 

Commercial

 

 

construction &

 

real estate:

Commercial

 

land

farmland &

real estate:

Residential:

Residential:

Commercial

 

development

commercial

multifamily

first lien

junior lien

Consumer

Foreign

Total

 

(Dollars in Thousands)

Balance at December 31, 2022

    

$

26,728

$

44,684

$

36,474

$

3,794

$

4,759

$

8,284

$

281

$

968

    

$

125,972

Losses charged to allowance

 

(9,664)

 

 

 

(43)

 

(298)

 

(179)

 

 

(10,184)

Recoveries credited to allowance

 

5,433

 

837

 

143

 

 

16

 

260

 

16

 

 

6,705

Net losses charged to allowance

 

(4,231)

 

837

 

143

 

 

(27)

 

(38)

 

(163)

 

 

(3,479)

Provision (credit) charged to operations

 

13,053

9,770

 

6,086

 

1,294

 

1,080

 

2,778

 

200

 

315

 

34,576

Balance at December 31, 2023

$

35,550

$

55,291

$

42,703

$

5,088

$

5,812

$

11,024

$

318

$

1,283

$

157,069

December 31, 2022

 

Domestic

Foreign

 

Commercial

 

real estate:

 

 

other

 

Commercial

 

 

 

construction &

 

real estate:

Commercial

 

 

land

farmland &

real estate:

Residential:

Residential:

 

Commercial

 

development

commercial

multifamily

first lien

junior lien

Consumer

Foreign

Total

 

 

(Dollars in Thousands)

 

Balance at December 31, 2021

    

$

23,178

$

35,390

$

35,654

$

3,291

$

4,073

$

7,754

$

272

$

762

    

$

110,374

Losses charged to allowance

 

(9,050)

 

(2)

(16)

 

 

(160)

 

(28)

 

(223)

 

 

(9,479)

Recoveries credited to allowance

 

2,894

 

123

 

27

 

 

240

 

104

 

38

 

 

3,426

Net losses charged to allowance

 

(6,156)

 

121

 

11

 

 

80

 

76

 

(185)

 

 

(6,053)

Provision (credit) charged to operations

 

9,706

9,173

 

809

 

503

 

606

 

454

 

194

 

206

 

21,651

Balance at December 31, 2022

$

26,728

$

44,684

$

36,474

$

3,794

$

4,759

$

8,284

$

281

$

968

$

125,972

December 31, 2024

Loans Individually

Loans Collectively

Evaluated For

Evaluated For

Impairment

Impairment

Recorded

Recorded

Investment

Allowance

Investment

Allowance

(Dollars in Thousands)

Domestic

Commercial

    

$

52,110

    

$

400

    

$

1,799,693

    

$

29,453

Commercial real estate: other construction & land development

 

8,195

 

8,122

 

2,476,259

 

52,517

Commercial real estate: farmland & commercial

 

65,733

 

8,228

 

2,862,070

 

35,762

Commercial real estate: multifamily

 

42,964

 

1,882

 

267,151

 

2,987

Residential: first lien

 

45

 

 

530,039

 

5,528

Residential: junior lien

 

141

 

 

469,088

 

10,031

Consumer

 

 

 

49,777

 

281

Foreign

 

 

 

186,561

 

1,346

Total

$

169,188

$

18,632

$

8,640,638

$

137,905

December 31, 2023

Loans Individually

Loans Collectively

Evaluated For

Evaluated For

Impairment

Impairment

Recorded

Recorded

Investment

Allowance

Investment

Allowance

(Dollars in Thousands)

Domestic

Commercial

    

$

30,872

    

$

7,971

    

$

1,597,358

    

$

27,579

Commercial real estate: other construction & land development

 

15,701

 

4,320

 

2,075,921

 

50,971

Commercial real estate: farmland & commercial

 

299

 

 

2,793,254

 

42,703

Commercial real estate: multifamily

 

96

 

 

380,743

 

5,088

Residential: first lien

 

93

 

 

477,940

 

5,812

Residential: junior lien

 

 

 

460,868

 

11,024

Consumer

 

 

 

45,121

 

318

Foreign

 

 

 

180,695

 

1,283

Total

$

47,061

$

12,291

$

8,011,900

$

144,778

Loans accounted on non-accrual basis, by loan class

December 31, 2024

December 31, 2023

(Dollars in Thousands)

Total Non-Accrual Loans

    

Non-Accrual Loans with No Credit Allowance

    

Total Non-Accrual Loans

    

Non-Accrual Loans with No Credit Allowance

Domestic

Commercial

    

$

52,110

$

51,276

$

30,872

$

122

Commercial real estate: other construction & land development

 

8,195

 

73

 

15,701

 

5,400

Commercial real estate: farmland & commercial

 

65,733

 

24,757

 

299

 

211

Commercial real estate: multifamily

 

42,964

 

73

 

96

 

96

Residential: first lien

 

134

 

134

 

202

 

172

Total non-accrual loans

$

169,136

$

76,313

$

47,170

$

6,001

Information regarding the aging of past due loans, by loan class

December 31, 2024

    

    

    

90 Days or

    

Total

    

    

30 - 59

60 - 89

90 Days or

greater &

Past

Total

Days

Days

Greater

still accruing

Due

Current

Portfolio

(Dollars in Thousands)

Domestic

Commercial

    

$

4,070

    

$

51,577

    

$

579

    

$

534

    

$

56,226

    

$

1,795,577

    

$

1,851,803

Commercial real estate: other construction & land development

 

2,421

 

15

 

8,122

 

 

10,558

 

2,473,896

 

2,484,454

Commercial real estate: farmland & commercial

 

1,221

 

 

26,416

 

262

 

27,637

 

2,900,166

 

2,927,803

Commercial real estate: multifamily

 

 

270

 

25,064

 

 

25,334

 

284,781

 

310,115

Residential: first lien

 

4,763

 

1,337

 

3,631

 

3,542

 

9,731

 

520,353

 

530,084

Residential: junior lien

 

2,599

 

1,544

 

2,000

 

2,000

 

6,143

 

463,086

 

469,229

Consumer

 

122

 

32

 

16

 

16

 

170

 

49,607

 

49,777

Foreign

 

816

 

1,992

 

339

 

339

 

3,147

 

183,414

 

186,561

Total past due loans

$

16,012

$

56,767

$

66,167

$

6,693

$

138,946

$

8,670,880

$

8,809,826

December 31, 2023

90 Days or

Total

30 - 59

60 - 89

90 Days or

greater &

Past

Total

Days

Days

Greater

still accruing

Due

Current

Portfolio

 

(Dollars in Thousands)

Domestic

    

    

    

    

    

    

    

    

    

    

    

    

    

    

Commercial

$

2,387

    

$

1,583

    

$

30,238

    

$

539

    

$

34,208

    

$

1,594,022

    

$

1,628,230

Commercial real estate: other construction & land development

 

3,460

 

 

10,245

 

 

13,705

 

2,077,917

 

2,091,622

Commercial real estate: farmland & commercial

 

1,424

 

371

 

93

 

4

 

1,888

 

2,791,665

 

2,793,553

Commercial real estate: multifamily

 

369

 

330

 

 

 

699

 

380,140

 

380,839

Residential: first lien

 

1,812

 

1,439

 

2,545

 

2,437

 

5,796

 

472,236

 

478,032

Residential: junior lien

 

1,273

 

613

 

1,701

 

1,701

 

3,587

 

457,282

 

460,869

Consumer

 

263

 

11

 

27

 

27

 

301

 

44,820

 

45,121

Foreign

 

1,884

 

848

 

889

 

889

 

3,621

 

177,074

 

180,695

Total past due loans

$

12,872

$

5,195

$

45,738

$

5,597

$

63,805

$

7,995,156

$

8,058,961

Summary of the loan portfolio by credit quality indicator, by loan class

    

2024

    

2023

    

2022

    

2021

    

2020

    

Prior

    

Total

(Dollars in Thousands)

Balance at December 31, 2024

Domestic

Commercial

    

Pass

$

993,045

$

343,212

$

135,057

$

214,702

$

37,670

$

63,030

$

1,786,716

Watch List - Pass

11,113

11,113

Watch List - Substandard

1,341

327

74

122

1,864

Watch List - Doubtful

881

51,184

45

52,110

Total Commercial

$

995,267

$

405,836

$

135,176

$

214,824

$

37,670

$

63,030

$

1,851,803

Commercial

Current-period gross writeoffs

$

5,711

$

2,689

$

25,686

$

44

$

14

$

5

$

34,149

Commercial real estate: other construction & land development

Pass

$

1,029,399

$

921,180

$

322,348

$

144,221

$

39,908

$

2,925

$

2,459,981

Special Review

16,000

16,000

Watch List - Substandard

278

278

Watch List - Doubtful

73

8,122

8,195

Total Commercial real estate: other construction & land development

$

1,029,750

$

937,180

$

330,470

$

144,221

$

39,908

$

2,925

$

2,484,454

Commercial real estate: other construction & land development

Current-period gross writeoffs

$

$

1,146

$

1,082

$

$

$

$

2,228

Commercial real estate: farmland & commercial

 

Pass

$

814,273

$

631,806

$

531,035

$

312,757

$

220,510

$

245,334

$

2,755,715

Special Review

643

67,567

68,210

Watch List - Pass

16,490

16,490

Watch List - Substandard

18,934

242

2,122

357

21,655

Watch List - Doubtful

52,973

115

12,645

65,733

Total Commercial real estate: farmland & commercial

$

903,313

$

699,730

$

545,802

$

312,757

$

220,867

$

245,334

$

2,927,803

Commercial real estate: multifamily

 

Pass

$

90,092

$

11,538

$

108,830

$

18,621

$

8,198

$

29,871

$

267,150

Watch List - Doubtful

17,901

25,064

42,965

Total Commercial real estate: multifamily

$

107,993

$

36,602

$

108,830

$

18,621

$

8,198

$

29,871

$

310,115

Residential: first lien

Pass

$

180,743

$

107,100

$

81,618

$

57,503

$

29,316

$

73,390

$

529,670

Watch List - Substandard

95

274

369

Watch List - Doubtful

23

22

45

Total Residential: first lien

$

180,861

$

107,100

$

81,640

$

57,777

$

29,316

$

73,390

$

530,084

Residential: first lien

Current-period gross writeoffs

$

$

$

$

$

$

46

$

46

Residential: junior lien

Pass

$

91,202

$

73,740

$

65,144

$

70,969

$

65,799

$

102,234

$

469,088

Watch List- Doubtful

141

141

Total Residential: junior lien

$

91,343

$

73,740

$

65,144

$

70,969

$

65,799

$

102,234

$

469,229

Consumer

Pass

$

38,778

$

8,137

$

904

$

422

$

22

$

1,514

$

49,777

Total Consumer

$

38,778

$

8,137

$

904

$

422

$

22

$

1,514

$

49,777

Consumer

Current-period gross writeoffs

$

43

$

120

$

22

$

$

$

$

185

Foreign

 

Pass

$

124,716

$

30,648

$

16,877

$

6,962

$

2,879

$

4,479

$

186,561

Total Foreign

$

124,716

$

30,648

$

16,877

$

6,962

$

2,879

$

4,479

$

186,561

Total Loans

$

3,472,021

$

2,298,973

$

1,284,843

$

826,553

$

404,659

$

522,777

$

8,809,826

    

2023

    

2022

    

2021

    

2020

    

2019

    

Prior

    

Total

(Dollars in Thousands)

Balance at December 31, 2023

Domestic

Commercial

    

Pass

$

791,233

$

272,919

$

364,271

$

50,602

$

21,468

$

74,119

$

1,574,612

Special Review

7,613

1,800

164

9,577

Watch List - Pass

11,865

11,865

Watch List - Substandard

1,180

92

28

4

1,304

Watch List - Doubtful

27

30,810

35

30,872

Total Commercial

$

811,918

$

305,621

$

364,498

$

50,602

$

21,468

$

74,123

$

1,628,230

Commercial

Current-period gross writeoffs

$

7,053

$

2,187

$

155

$

264

$

2

$

3

$

9,664

Commercial real estate: other construction & land development

Pass

$

938,739

$

674,037

$

324,238

$

96,400

$

14,058

$

3,219

$

2,050,691

Watch List - Substandard

25,230

25,230

Watch List - Doubtful

2,726

12,975

15,701

Total Commercial real estate: other construction & land development

$

966,695

$

687,012

$

324,238

$

96,400

$

14,058

$

3,219

$

2,091,622

Commercial real estate: farmland & commercial

 

Pass

$

888,878

$

628,653

$

415,458

$

267,705

$

184,164

$

248,626

$

2,633,484

Special Review

5,205

3,357

8,562

Watch List - Pass

16,654

87

233

16,974

Watch List - Substandard

129,644

2,201

2,304

84

1

134,234

Watch List - Doubtful

211

88

299

Total Commercial real estate: farmland & commercial

$

1,040,592

$

631,029

$

419,048

$

270,009

$

184,248

$

248,627

$

2,793,553

Commercial real estate: multifamily

 

Pass

$

123,523

$

94,551

$

42,081

$

73,652

$

10,743

$

36,193

$

380,743

Watch List - Doubtful

96

96

Total Commercial real estate: multifamily

$

123,523

$

94,647

$

42,081

$

73,652

$

10,743

$

36,193

$

380,839

Residential: first lien

Pass

$

180,127

$

83,568

$

68,082

$

39,935

$

27,499

$

78,306

$

477,517

Watch List - Substandard

327

95

422

Watch List - Doubtful

93

93

Total Residential: first lien

$

180,127

$

83,661

$

68,409

$

39,935

$

27,499

$

78,401

$

478,032

Residential: first lien

Current-period gross writeoffs

$

$

$

$

$

$

43

$

43

Residential: junior lien

Pass

$

88,628

$

76,845

$

96,411

$

76,490

$

34,870

$

87,625

$

460,869

Total Residential: junior lien

$

88,628

$

76,845

$

96,411

$

76,490

$

34,870

$

87,625

$

460,869

Residential: junior lien

Current-period gross writeoffs

$

$

$

$

$

$

298

$

298

Consumer

Pass

$

36,639

$

5,366

$

1,043

$

237

$

157

$

1,679

$

45,121

Total Consumer

$

36,639

$

5,366

$

1,043

$

237

$

157

$

1,679

$

45,121

Consumer

Current-period gross writeoffs

$

54

$

115

$

9

$

$

1

$

$

179

Foreign

 

Pass

$

116,104

$

43,842

$

12,317

$

2,016

$

2,797

$

3,619

$

180,695

Total Foreign

$

116,104

$

43,842

$

12,317

$

2,016

$

2,797

$

3,619

$

180,695

Total Loans

$

3,364,226

$

1,928,023

$

1,328,045

$

609,341

$

295,840

$

533,486

$

8,058,961