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v3.21.2

Allowance for Credit Losses (Tables) | 6 Months Ended
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Jun. 30, 2021
Receivables [Abstract] |
Summary of total non purchased and purchased loans | The following is a summary of non purchased loans and leases as of the dates presented:
| June 30, 2021 |  | December 31, 2020
Commercial, financial, agricultural(1) | $ | 1,509,908 |  |  | $ | 2,360,471 |
Lease financing | 78,028 |  |  | 80,022 |
Real estate – construction: |  |  |
Residential | 274,599 |  |  | 243,814 |
Commercial | 764,014 |  |  | 583,338 |
Total real estate – construction | 1,038,613 |  |  | 827,152 |
Real estate – 1-4 family mortgage: |  |  |
Primary | 1,623,987 |  |  | 1,536,181 |
Home equity | 426,845 |  |  | 432,768 |
Rental/investment | 271,397 |  |  | 264,436 |
Land development | 113,345 |  |  | 123,179 |
Total real estate – 1-4 family mortgage | 2,435,574 |  |  | 2,356,564 |
Real estate – commercial mortgage: |  |  |
Owner-occupied | 1,373,150 |  |  | 1,334,765 |
Non-owner occupied | 2,249,112 |  |  | 2,194,739 |
Land development | 101,047 |  |  | 120,125 |
Total real estate – commercial mortgage | 3,723,309 |  |  | 3,649,629 |
Installment loans to individuals | 111,137 |  |  | 149,862 |
Gross loans | 8,896,569 |  |  | 9,423,700 |
Unearned income | (4,025) |  |  | (4,160) |
Loans, net of unearned income | $ | 8,892,544 |  |  | $ | 9,419,540 |
(1)Includes Paycheck Protection Program (“PPP”) loans of $246,931 and $1,128,703 as of June 30, 2021 and December 31, 2020, respectively. The following is a summary of purchased loans as of the dates presented:
| June 30, 2021 |  | December 31, 2020
Commercial, financial, agricultural | $ | 124,725 |  |  | $ | 176,513 |
Real estate – construction: |  |  |
Residential | 2,564 |  |  | 2,859 |
Commercial | 10,182 |  |  | 28,093 |
Total real estate – construction | 12,746 |  |  | 30,952 |
Real estate – 1-4 family mortgage: |  |  |
Primary | 166,535 |  |  | 214,770 |
Home equity | 63,088 |  |  | 80,392 |
Rental/investment | 25,944 |  |  | 31,928 |
Land development | 10,950 |  |  | 14,654 |
Total real estate – 1-4 family mortgage | 266,517 |  |  | 341,744 |
Real estate – commercial mortgage: |  |  |
Owner-occupied | 290,041 |  |  | 323,041 |
Non-owner occupied | 492,917 |  |  | 552,728 |
Land development | 23,902 |  |  | 29,454 |
Total real estate – commercial mortgage | 806,860 |  |  | 905,223 |
Installment loans to individuals | 45,850 |  |  | 59,675 |
Loans | $ | 1,256,698 |  |  | $ | 1,514,107 |
The following is a summary of total non purchased and purchased loans as of the dates presented:
| June 30, 2021 |  | December 31, 2020
Commercial, financial, agricultural | $ | 1,634,633 |  |  | $ | 2,536,984 |
Lease financing | 78,028 |  |  | 80,022 |
Real estate – construction: |  |  |
Residential | 277,163 |  |  | 246,673 |
Commercial | 774,196 |  |  | 611,431 |
Total real estate – construction | 1,051,359 |  |  | 858,104 |
Real estate – 1-4 family mortgage: |  |  |
Primary | 1,790,522 |  |  | 1,750,951 |
Home equity | 489,933 |  |  | 513,160 |
Rental/investment | 297,341 |  |  | 296,364 |
Land development | 124,295 |  |  | 137,833 |
Total real estate – 1-4 family mortgage | 2,702,091 |  |  | 2,698,308 |
Real estate – commercial mortgage: |  |  |
Owner-occupied | 1,663,191 |  |  | 1,657,806 |
Non-owner occupied | 2,742,029 |  |  | 2,747,467 |
Land development | 124,949 |  |  | 149,579 |
Total real estate – commercial mortgage | 4,530,169 |  |  | 4,554,852 |
Installment loans to individuals | 156,987 |  |  | 209,537 |
Gross loans | 10,153,267 |  |  | 10,937,807 |
Unearned income | (4,025) |  |  | (4,160) |
Loans, net of unearned income | 10,149,242 |  |  | 10,933,647 |
Allowance for credit losses on loans | (172,354) |  |  | (176,144) |
Net loans | $ | 9,976,888 |  |  | $ | 10,757,503 |
Roll forward of the allowance for loan losses | The following tables provide a roll-forward of the allowance for credit losses by loan category and a breakdown of the ending balance of the allowance based on the Company’s credit loss methodology for the periods presented:
| Commercial |  | Real Estate - Construction |  | Real Estate - 1-4 Family Mortgage |  | Real Estate - Commercial Mortgage |  | Lease Financing |  | Installment Loans to Individuals |  | Total
Three Months Ended June 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 37,592 |  |  | $ | 14,977 |  |  | $ | 31,694 |  |  | $ | 76,225 |  |  | $ | 1,546 |  |  | $ | 11,072 |  |  | $ | 173,106 |
Charge-offs | (1,184) |  |  | — |  |  | (152) |  |  | (171) |  |  | — |  |  | (1,347) |  |  | (2,854) |
Recoveries | 233 |  |  | — |  |  | 401 |  |  | 143 |  |  | 14 |  |  | 1,311 |  |  | 2,102 |
Net (charge-offs) recoveries | (951) |  |  | — |  |  | 249 |  |  | (28) |  |  | 14 |  |  | (36) |  |  | (752) |
Provision for credit losses on loans | 353 |  |  | 752 |  |  | (640) |  |  | (1,304) |  |  | (49) |  |  | 888 |  |  | — |
Ending balance | $ | 36,994 |  |  | $ | 15,729 |  |  | $ | 31,303 |  |  | $ | 74,893 |  |  | $ | 1,511 |  |  | $ | 11,924 |  |  | $ | 172,354 |
Six Months Ended June 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 39,031 |  |  | $ | 16,047 |  |  | $ | 32,165 |  |  | $ | 76,127 |  |  | $ | 1,624 |  |  | $ | 11,150 |  |  | $ | 176,144 |
Charge-offs | (4,682) |  |  | (52) |  |  | (253) |  |  | (232) |  |  | — |  |  | (3,005) |  |  | (8,224) |
Recoveries | 522 |  |  | 13 |  |  | 662 |  |  | 314 |  |  | 25 |  |  | 2,898 |  |  | 4,434 |
Net (charge-offs) recoveries | (4,160) |  |  | (39) |  |  | 409 |  |  | 82 |  |  | 25 |  |  | (107) |  |  | (3,790) |
Provision for credit losses on loans | 2,123 |  |  | (279) |  |  | (1,271) |  |  | (1,316) |  |  | (138) |  |  | 881 |  |  | — |
Ending balance | $ | 36,994 |  |  | $ | 15,729 |  |  | $ | 31,303 |  |  | $ | 74,893 |  |  | $ | 1,511 |  |  | $ | 11,924 |  |  | $ | 172,354 |
Period-End Amount Allocated to: |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated | $ | 9,121 |  |  | $ | — |  |  | $ | 228 |  |  | $ | 4,207 |  |  | $ | — |  |  | $ | 612 |  |  | $ | 14,168 |
Collectively evaluated | 27,873 |  |  | 15,729 |  |  | 31,075 |  |  | 70,686 |  |  | 1,511 |  |  | 11,312 |  |  | 158,186 |
Ending balance | $ | 36,994 |  |  | $ | 15,729 |  |  | $ | 31,303 |  |  | $ | 74,893 |  |  | $ | 1,511 |  |  | $ | 11,924 |  |  | $ | 172,354 |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated | $ | 14,409 |  |  | $ | — |  |  | $ | 5,017 |  |  | $ | 20,810 |  |  | $ | — |  |  | $ | 636 |  |  | $ | 40,872 |
Collectively evaluated | 1,620,224 |  |  | 1,051,359 |  |  | 2,697,074 |  |  | 4,509,359 |  |  | 74,003 |  |  | 156,351 |  |  | 10,108,370 |
Ending balance | $ | 1,634,633 |  |  | $ | 1,051,359 |  |  | $ | 2,702,091 |  |  | $ | 4,530,169 |  |  | $ | 74,003 |  |  | $ | 156,987 |  |  | $ | 10,149,242 |
Nonaccruing loans with no allowance for credit losses | $ | 2,826 |  |  | $ | — |  |  | $ | 2,841 |  |  | $ | 4,953 |  |  | $ | — |  |  | $ | 10 |  |  | $ | 10,630 |
| Commercial |  | Real Estate - Construction |  | Real Estate - 1-4 Family Mortgage |  | Real Estate - Commercial Mortgage |  | Lease Financing |  | Installment Loans to Individuals |  | Total
Three Months Ended June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 25,937 |  |  | $ | 10,924 |  |  | $ | 27,320 |  |  | $ | 44,237 |  |  | $ | 1,588 |  |  | $ | 10,179 |  |  | $ | 120,185 |
Charge-offs | (1,156) |  |  | (532) |  |  | (142) |  |  | — |  |  | — |  |  | (1,736) |  |  | (3,566) |
Recoveries | 108 |  |  | — |  |  | 48 |  |  | 41 |  |  | 5 |  |  | 1,666 |  |  | 1,868 |
Net (charge-offs) recoveries | (1,048) |  |  | (532) |  |  | (94) |  |  | 41 |  |  | 5 |  |  | (70) |  |  | (1,698) |
Provision for credit losses on loans | 5,796 |  |  | 2,146 |  |  | 2,175 |  |  | 15,783 |  |  | 219 |  |  | 781 |  |  | 26,900 |
Ending balance | $ | 30,685 |  |  | $ | 12,538 |  |  | $ | 29,401 |  |  | $ | 60,061 |  |  | $ | 1,812 |  |  | $ | 10,890 |  |  | $ | 145,387 |
Six Months Ended June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 10,658 |  |  | $ | 5,029 |  |  | $ | 9,814 |  |  | $ | 24,990 |  |  | $ | 910 |  |  | $ | 761 |  |  | $ | 52,162 |
Impact of the adoption of ASC 326 | 11,351 |  |  | 3,505 |  |  | 14,314 |  |  | 4,293 |  |  | 521 |  |  | 8,500 |  |  | 42,484 |
Charge-offs | (1,549) |  |  | (532) |  |  | (363) |  |  | (2,047) |  |  | — |  |  | (4,424) |  |  | (8,915) |
Recoveries | 298 |  |  | — |  |  | 136 |  |  | 1,740 |  |  | 10 |  |  | 4,222 |  |  | 6,406 |
Net (charge-offs) recoveries | (1,251) |  |  | (532) |  |  | (227) |  |  | (307) |  |  | 10 |  |  | (202) |  |  | (2,509) |
Provision for credit losses on loans | 9,927 |  |  | 4,536 |  |  | 5,500 |  |  | 31,085 |  |  | 371 |  |  | 1,831 |  |  | 53,250 |
Ending balance | $ | 30,685 |  |  | $ | 12,538 |  |  | $ | 29,401 |  |  | $ | 60,061 |  |  | $ | 1,812 |  |  | $ | 10,890 |  |  | $ | 145,387 |
Period-End Amount Allocated to: |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated | $ | 3,882 |  |  | $ | — |  |  | $ | 378 |  |  | $ | 550 |  |  | $ | — |  |  | $ | 270 |  |  | $ | 5,080 |
Collectively evaluated | 26,803 |  |  | 12,538 |  |  | 29,023 |  |  | 59,511 |  |  | 1,812 |  |  | 10,620 |  |  | 140,307 |
Ending balance | $ | 30,685 |  |  | $ | 12,538 |  |  | $ | 29,401 |  |  | $ | 60,061 |  |  | $ | 1,812 |  |  | $ | 10,890 |  |  | $ | 145,387 |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated | $ | 9,736 |  |  | $ | — |  |  | $ | 5,142 |  |  | $ | 7,883 |  |  | $ | — |  |  | $ | 626 |  |  | $ | 23,387 |
Collectively evaluated | 2,631,862 |  |  | 791,108 |  |  | 2,783,371 |  |  | 4,402,870 |  |  | 80,779 |  |  | 283,927 |  |  | 10,973,917 |
Ending balance | $ | 2,641,598 |  |  | $ | 791,108 |  |  | $ | 2,788,513 |  |  | $ | 4,410,753 |  |  | $ | 80,779 |  |  | $ | 284,553 |  |  | $ | 10,997,304 |
Nonaccruing loans with no allowance for credit losses | $ | 720 |  |  | $ | — |  |  | $ | 2,503 |  |  | $ | 3,910 |  |  | $ | — |  |  | $ | 2 |  |  | $ | 7,135 |
Unfunded loan commitments, allowance for credit losses |
Three Months Ended June 30, | 2021 | 2020
Allowance for credit losses on unfunded loan commitments: |  |
Beginning balance | $ | 20,535 |  | $ | 14,735 |
Provision for credit losses on unfunded loan commitments (included in other noninterest expense) | — |  | 2,600 |
Ending balance | $ | 20,535 |  | $ | 17,335 |
Six Months Ended June 30, | 2021 | 2020
Allowance for credit losses on unfunded loan commitments: |  |
Beginning balance | $ | 20,535 |  | $ | 946 |
Impact of the adoption of ASC 326 | — |  | 10,389 |
Provision for credit losses on unfunded loan commitments (included in other noninterest expense) | — |  | 6,000 |
Ending balance | $ | 20,535 |  | $ | 17,335 |

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