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v3.22.2

Allowance for Credit Losses (Tables) | 6 Months Ended
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Jun. 30, 2022
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, 2022 |  | December 31, 2021
Commercial, financial, agricultural(1) | $ | 1,405,642 |  |  | $ | 1,332,962 |
Lease financing | 106,510 |  |  | 80,192 |
Real estate – construction: |  |  |
Residential | 319,287 |  |  | 300,988 |
Commercial | 801,830 |  |  | 798,914 |
Total real estate – construction | 1,121,117 |  |  | 1,099,902 |
Real estate – 1-4 family mortgage: |  |  |
Primary | 1,976,535 |  |  | 1,682,050 |
Home equity | 443,045 |  |  | 423,108 |
Rental/investment | 279,621 |  |  | 268,245 |
Land development | 150,474 |  |  | 135,070 |
Total real estate – 1-4 family mortgage | 2,849,675 |  |  | 2,508,473 |
Real estate – commercial mortgage: |  |  |
Owner-occupied | 1,323,106 |  |  | 1,329,219 |
Non-owner occupied | 2,674,678 |  |  | 2,446,370 |
Land development | 112,887 |  |  | 110,395 |
Total real estate – commercial mortgage | 4,110,671 |  |  | 3,885,984 |
Installment loans to individuals | 103,661 |  |  | 107,565 |
Gross loans | 9,697,276 |  |  | 9,015,078 |
Unearned income | (5,160) |  |  | (4,067) |
Loans, net of unearned income | $ | 9,692,116 |  |  | $ | 9,011,011 |
(1)Includes Paycheck Protection Program (“PPP”) loans of $7,383 and $58,391 as of June 30, 2022 and December 31, 2021, respectively. The following is a summary of purchased loans as of the dates presented:
| June 30, 2022 |  | December 31, 2021
Commercial, financial, agricultural | $ | 91,630 |  |  | $ | 90,308 |
Real estate – construction: |  |  |
Residential | 1,254 |  |  | 1,287 |
Commercial | 3,992 |  |  | 3,707 |
Total real estate – construction | 5,246 |  |  | 4,994 |
Real estate – 1-4 family mortgage: |  |  |
Primary | 108,543 |  |  | 134,070 |
Home equity | 45,003 |  |  | 51,496 |
Rental/investment | 17,915 |  |  | 20,229 |
Land development | 8,947 |  |  | 9,978 |
Total real estate – 1-4 family mortgage | 180,408 |  |  | 215,773 |
Real estate – commercial mortgage: |  |  |
Owner-occupied | 210,086 |  |  | 234,132 |
Non-owner occupied | 382,848 |  |  | 410,577 |
Land development | 13,908 |  |  | 18,344 |
Total real estate – commercial mortgage | 606,842 |  |  | 663,053 |
Installment loans to individuals | 27,502 |  |  | 35,775 |
Loans | $ | 911,628 |  |  | $ | 1,009,903 |
The following is a summary of total non purchased and purchased loans as of the dates presented:
| June 30, 2022 |  | December 31, 2021
Commercial, financial, agricultural (1) | $ | 1,497,272 |  |  | $ | 1,423,270 |
Lease financing | 106,510 |  |  | 80,192 |
Real estate – construction: |  |  |
Residential | 320,541 |  |  | 302,275 |
Commercial | 805,822 |  |  | 802,621 |
Total real estate – construction | 1,126,363 |  |  | 1,104,896 |
Real estate – 1-4 family mortgage: |  |  |
Primary | 2,085,078 |  |  | 1,816,120 |
Home equity | 488,048 |  |  | 474,604 |
Rental/investment | 297,536 |  |  | 288,474 |
Land development | 159,421 |  |  | 145,048 |
Total real estate – 1-4 family mortgage | 3,030,083 |  |  | 2,724,246 |
Real estate – commercial mortgage: |  |  |
Owner-occupied | 1,533,192 |  |  | 1,563,351 |
Non-owner occupied | 3,057,526 |  |  | 2,856,947 |
Land development | 126,795 |  |  | 128,739 |
Total real estate – commercial mortgage | 4,717,513 |  |  | 4,549,037 |
Installment loans to individuals | 131,163 |  |  | 143,340 |
Gross loans | 10,608,904 |  |  | 10,024,981 |
Unearned income | (5,160) |  |  | (4,067) |
Loans, net of unearned income | 10,603,744 |  |  | 10,020,914 |
Allowance for credit losses on loans | (166,131) |  |  | (164,171) |
Net loans | $ | 10,437,613 |  |  | $ | 9,856,743 |
(1)Includes Paycheck Protection Program (“PPP”) loans of $7,383 and $58,391 as of June 30, 2022 and December 31, 2021, respectively.
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, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 33,606 |  |  | $ | 18,411 |  |  | $ | 36,848 |  |  | $ | 65,231 |  |  | $ | 1,582 |  |  | $ | 10,790 |  |  | $ | 166,468 |
Charge-offs | (2,239) |  |  | — |  |  | (161) |  |  | (708) |  |  | — |  |  | (850) |  |  | (3,958) |
Recoveries | 431 |  |  | — |  |  | 169 |  |  | 192 |  |  | 11 |  |  | 818 |  |  | 1,621 |
Net (charge-offs) recoveries | (1,808) |  |  | — |  |  | 8 |  |  | (516) |  |  | 11 |  |  | (32) |  |  | (2,337) |
(Recovery of) provision for credit losses on loans | (1,605) |  |  | (1,121) |  |  | 5,054 |  |  | (342) |  |  | 209 |  |  | (195) |  |  | 2,000 |
Ending balance | $ | 30,193 |  |  | $ | 17,290 |  |  | $ | 41,910 |  |  | $ | 64,373 |  |  | $ | 1,802 |  |  | $ | 10,563 |  |  | $ | 166,131 |
Six Months Ended June 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 33,922 |  |  | $ | 16,419 |  |  | $ | 32,356 |  |  | $ | 68,940 |  |  | $ | 1,486 |  |  | $ | 11,048 |  |  | $ | 164,171 |
Impact of PCD loans acquired during the period | 1,648 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,648 |
Charge-offs | (4,341) |  |  | — |  |  | (324) |  |  | (714) |  |  | (7) |  |  | (1,629) |  |  | (7,015) |
Recoveries | 1,567 |  |  | — |  |  | 347 |  |  | 347 |  |  | 23 |  |  | 1,543 |  |  | 3,827 |
Net (charge-offs) recoveries | (2,774) |  |  | — |  |  | 23 |  |  | (367) |  |  | 16 |  |  | (86) |  |  | (3,188) |
(Recovery of) provision for credit losses on loans | (2,603) |  |  | 871 |  |  | 9,531 |  |  | (4,200) |  |  | 300 |  |  | (399) |  |  | 3,500 |
Ending balance | $ | 30,193 |  |  | $ | 17,290 |  |  | $ | 41,910 |  |  | $ | 64,373 |  |  | $ | 1,802 |  |  | $ | 10,563 |  |  | $ | 166,131 |
Period-End Amount Allocated to: |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated | $ | 4,567 |  |  | $ | — |  |  | $ | 85 |  |  | $ | 1,674 |  |  | $ | — |  |  | $ | 570 |  |  | $ | 6,896 |
Collectively evaluated | 25,626 |  |  | 17,290 |  |  | 41,825 |  |  | 62,699 |  |  | 1,802 |  |  | 9,993 |  |  | 159,235 |
Ending balance | $ | 30,193 |  |  | $ | 17,290 |  |  | $ | 41,910 |  |  | $ | 64,373 |  |  | $ | 1,802 |  |  | $ | 10,563 |  |  | $ | 166,131 |
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated | $ | 9,534 |  |  | $ | — |  |  | $ | 4,127 |  |  | $ | 11,716 |  |  | $ | — |  |  | $ | 570 |  |  | $ | 25,947 |
Collectively evaluated | 1,487,738 |  |  | 1,126,363 |  |  | 3,025,956 |  |  | 4,705,797 |  |  | 101,350 |  |  | 130,593 |  |  | 10,577,797 |
Ending balance | $ | 1,497,272 |  |  | $ | 1,126,363 |  |  | $ | 3,030,083 |  |  | $ | 4,717,513 |  |  | $ | 101,350 |  |  | $ | 131,163 |  |  | $ | 10,603,744 |
Nonaccruing loans with no allowance for credit losses | $ | 849 |  |  | $ | — |  |  | $ | 3,594 |  |  | $ | 3,492 |  |  | $ | — |  |  | $ | — |  |  | $ | 7,935 |
| 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 |
Unfunded loan commitments, allowance for credit losses |
Three Months Ended June 30, | 2022 | 2021
Allowance for credit losses on unfunded loan commitments: |  |
Beginning balance | $ | 19,485 |  | $ | 20,535 |
Provision for credit losses on unfunded loan commitments (included in other noninterest expense) | 450 |  | — |
Ending balance | $ | 19,935 |  | $ | 20,535 |
Six Months Ended June 30, | 2022 | 2021
Allowance for credit losses on unfunded loan commitments: |  |
Beginning balance | $ | 20,035 |  | $ | 20,535 |
(Recovery of) provision for credit losses on unfunded loan commitments (included in other noninterest expense) | (100) |  | — |
Ending balance | $ | 19,935 |  | $ | 20,535 |

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