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Loans and Allowance for Credit Losses (Tables)
 6 Months Ended
Jun. 30, 2025
Receivables [Abstract]  
Schedule of Accounts, Notes, Loans and Financing Receivable
Loans consisted of the following at the dates indicated (dollars in thousands):
 June 30, 2025December 31, 2024
 
Amortized Cost
Percent of Total Loans
Amortized Cost
Percent of Total Loans
Commercial:
Non-owner occupied commercial real estate$5,829,835 24.4 %$5,652,203 23.3 %
Construction and land643,630 2.7 %561,989 2.3 %
Owner occupied commercial real estate1,942,076 8.1 %1,941,004 8.0 %
Commercial and industrial6,743,739 28.2 %7,042,222 28.9 %
Pinnacle - municipal finance694,639 2.9 %720,661 3.0 %
Franchise and equipment finance
149,022 0.6 %213,477 0.9 %
Mortgage warehouse lending 626,589 2.6 %585,610 2.4 %
 16,629,530 69.5 %16,717,166 68.8 %
Residential:
1-4 single family residential6,310,932 26.4 %6,508,922 26.8 %
Government insured residential993,065 4.1 %1,071,892 4.4 %
7,303,997 30.5 %7,580,814 31.2 %
Total loans23,933,527 100.0 %24,297,980 100.0 %
Allowance for credit losses(222,730)(223,153)
Loans, net$23,710,797 $24,074,827 
Allowance for Credit Losses on Financing Receivables
Activity in the ACL is summarized below for the periods indicated (in thousands):
Three Months Ended June 30,
 20252024
 CommercialResidentialTotalCommercialResidentialTotal
Beginning balance$204,180 $15,567 $219,747 $210,929 $6,627 $217,556 
Provision (recovery)17,292 (1,598)15,694 22,224 (401)21,823 
Charge-offs(14,051)(208)(14,259)(16,100)— (16,100)
Recoveries1,540 8 1,548 2,419 — 2,419 
Ending balance$208,961 $13,769 $222,730 $219,472 $6,226 $225,698 
Six Months Ended June 30,
 20252024
 CommercialResidentialTotalCommercialResidentialTotal
Beginning balance$211,203 $11,950 $223,153 $195,058 $7,631 $202,689 
Provision (recovery)29,638 2,019 31,657 39,003 (1,375)37,628 
Charge-offs(36,808)(208)(37,016)(21,452)(34)(21,486)
Recoveries4,928 8 4,936 6,863 4 6,867 
Ending balance$208,961 $13,769 $222,730 $219,472 $6,226 $225,698 
The following table presents the components of the provision for credit losses for the periods indicated (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Amount related to funded portion of loans$15,694 $21,823 $31,657 $37,628 
Amount related to off-balance sheet credit exposures4 (2,285)(848)(2,805)
Total provision for credit losses$15,698 $19,538 $30,809 $34,823 
Accounts Receivable, Allowance for Credit Loss
The following table presents gross charge-offs during the six months ended June 30, 2025 by year of origination (in thousands):
Gross Charge-offs By Loan Origination Year
 2025
2024
2023
2022
2021
Prior to 2021
Revolving LoansTotal
CRE$— $— $— $— $2,983 $10,736 $— $13,719 
C&I83 193 3,734 9,460 5 722 8,892 23,089 
Residential
— — — 208 — — — 208 
$83 $193 $3,734 $9,668 $2,988 $11,458 $8,892 $37,016 
Financing Receivable Credit Quality Indicators These borrowers may exhibit payment defaults, inadequate cash flows from current operations, operating losses, increasing balance sheet leverage, project cost overruns, unreasonable construction delays, exhausted interest reserves, declining collateral values, frequent overdrafts or past due real estate taxes. Loans with weaknesses so severe that collection in full is highly questionable or improbable, but because of certain reasonably specific pending factors have not been charged off, are assigned an internal risk rating of doubtful. 
Commercial credit exposure based on internal risk rating (in thousands):
June 30, 2025
Amortized Cost By Origination YearRevolving Loans
20252024202320222021PriorTotal
CRE
Pass$563,575 $968,557 $872,218 $969,938 $522,771 $1,687,978 $125,880 $5,710,917 
Special mention— — — 21,565 45,315 22,079 — 88,959 
Substandard— — 21,845 155,262 66,604 429,878 — 673,589 
Total CRE$563,575 $968,557 $894,063 $1,146,765 $634,690 $2,139,935 $125,880 $6,473,465 
C&I
Pass$734,851 $1,297,656 $1,066,081 $825,410 $382,815 $1,175,968 $2,756,193 $8,238,974 
Special mention— — 3,008 — 5,329 1,350 32,233 41,920 
Substandard— 15,902 38,795 96,805 21,510 121,031 76,350 370,393 
Doubtful— — 796 9,375 14,954 — 9,403 34,528 
Total C&I$734,851 $1,313,558 $1,108,680 $931,590 $424,608 $1,298,349 $2,874,179 $8,685,815 
Pinnacle - municipal finance
Pass$43,647 $54,653 $89,415 $78,757 $47,265 $380,902 $— $694,639 
Total Pinnacle - municipal finance$43,647 $54,653 $89,415 $78,757 $47,265 $380,902 $— $694,639 
Franchise and equipment finance
Pass$— $— $1,898 $4,241 $29,076 $72,717 $21,192 $129,124 
Substandard— — — — — 19,787 — 19,787 
Doubtful— — — — — 111 — 111 
Total Franchise and equipment finance
$— $— $1,898 $4,241 $29,076 $92,615 $21,192 $149,022 
Mortgage warehouse lending
Pass$— $— $— $— $— $— $626,589 $626,589 
Total Mortgage warehouse lending$— $— $— $— $— $— $626,589 $626,589 
December 31, 2024
Amortized Cost By Origination YearRevolving Loans
20242023202220212020PriorTotal
CRE
Pass$921,888 $783,342 $1,119,032 $609,452 $399,806 $1,478,261 $114,648 $5,426,429 
Special mention— — — — 39,714 19,057 — 58,771 
Substandard— 21,853 131,816 121,005 76,590 377,728 — 728,992 
Total CRE$921,888 $805,195 $1,250,848 $730,457 $516,110 $1,875,046 $114,648 $6,214,192 
C&I
Pass$1,514,746 $1,182,701 $962,478 $470,041 $269,508 $1,085,412 $2,931,044 $8,415,930 
Special mention45,092 8,231 73,226 35,581 — — 41,486 203,616 
Substandard— 49,681 74,001 40,108 10,529 101,028 81,798 357,145 
Doubtful— — — — — — 6,535 6,535 
Total C&I$1,559,838 $1,240,613 $1,109,705 $545,730 $280,037 $1,186,440 $3,060,863 $8,983,226 
Pinnacle - municipal finance
Pass$60,317 $108,440 $93,800 $51,034 $24,010 $383,060 $— $720,661 
Total Pinnacle - municipal finance$60,317 $108,440 $93,800 $51,034 $24,010 $383,060 $— $720,661 
Franchise and equipment finance
Pass$— $2,014 $26,408 $54,871 $16,435 $84,879 $174 $184,781 
Substandard— — — 1,486 275 26,614 — 28,375 
Doubtful— — — — — 321 — 321 
Total Franchise and equipment finance
$— $2,014 $26,408 $56,357 $16,710 $111,814 $174 $213,477 
Mortgage warehouse lending
Pass$— $— $— $— $— $— $585,610 $585,610 
Total Mortgage warehouse lending$— $— $— $— $— $— $585,610 $585,610 
The following table presents criticized and classified commercial loans in aggregate by risk rating category at the dates indicated (in thousands):
June 30, 2025December 31, 2024
Special mention$130,879 $262,387 
Substandard - accruing745,811 894,754 
Substandard - non-accruing317,958 219,758 
Doubtful34,639 6,856 
Total $1,229,287 $1,383,755 
Factors that impact risk inherent in the residential portfolio segment include national and regional economic conditions such as levels of unemployment, wages and interest rates, as well as residential property values.
1-4 Single Family Residential credit exposure, excluding government insured residential loans, based on delinquency status (in thousands):
June 30, 2025
Amortized Cost By Origination Year
Days Past Due
20252024202320222021PriorTotal
Current $117,681 $229,137 $277,952 $971,632 $2,649,818 $2,016,622 $6,262,842 
30 - 59 Days Past Due1,800 369 404 8,279 6,723 8,317 25,892 
60 - 89 Days Past Due— 1,606 — — 1,153 1,701 4,460 
90 Days or More Past Due— — — 143 6,086 11,509 17,738 
$119,481 $231,112 $278,356 $980,054 $2,663,780 $2,038,149 $6,310,932 
December 31, 2024
Amortized Cost By Origination Year
Days Past Due
20242023202220212020PriorTotal
Current $251,767 $304,595 $1,012,777 $2,744,941 $798,346 $1,340,402 $6,452,828 
30 - 59 Days Past Due— 3,045 4,948 15,368 474 9,140 32,975 
60 - 89 Days Past Due156 — 1,445 4,007 — 547 6,155 
90 Days or More Past Due— — 2,486 3,457 — 11,021 16,964 
$251,923 $307,640 $1,021,656 $2,767,773 $798,820 $1,361,110 $6,508,922 
1-4 Single Family Residential credit exposure, excluding government insured residential loans, based on LTV (in thousands): 
June 30, 2025
Amortized Cost By Origination Year
LTV20252024202320222021PriorTotal
Less than 61%$23,043 $26,952 $48,360 $225,455 $1,075,889 $689,723 $2,089,422 
61% - 70% 17,866 30,351 37,798 253,701 739,046 483,914 1,562,676 
71% - 80%50,865 139,918 159,090 497,418 817,540 829,562 2,494,393 
More than 80%27,707 33,891 33,108 3,480 31,305 34,950 164,441 
$119,481 $231,112 $278,356 $980,054 $2,663,780 $2,038,149 $6,310,932 
December 31, 2024
Amortized Cost By Origination Year
LTV20242023202220212020PriorTotal
Less than 61%$27,646 $51,565 $236,020 $1,124,532 $304,755 $425,814 $2,170,332 
61% - 70% 33,033 42,636 263,959 759,931 203,423 307,052 1,610,034 
71% - 80% 156,942 175,651 518,164 851,427 290,573 590,130 2,582,887 
More than 80%34,302 37,788 3,513 31,883 69 38,114 145,669 
$251,923 $307,640 $1,021,656 $2,767,773 $798,820 $1,361,110 $6,508,922 
1-4 Single Family Residential credit exposure, excluding government insured residential loans, based on FICO score (in thousands):
June 30, 2025
Amortized Cost By Origination Year
FICO20252024202320222021PriorTotal
760 or greater$78,873 $166,169 $207,607 $703,941 $2,097,309 $1,480,664 $4,734,563 
720 - 75931,996 42,903 40,971 156,609 352,321 292,525 917,325 
719 or less or not available
8,612 22,040 29,778 119,504 214,150 264,960 659,044 
$119,481 $231,112 $278,356 $980,054 $2,663,780 $2,038,149 $6,310,932 
December 31, 2024
Amortized Cost By Origination Year
FICO20242023202220212020PriorTotal
760 or greater$179,256 $215,486 $725,399 $2,202,004 $642,572 $952,136 $4,916,853 
720 - 75958,642 59,356 173,309 365,198 95,495 192,943 944,943 
719 or less or not available
14,025 32,798 122,948 200,571 60,753 216,031 647,126 
$251,923 $307,640 $1,021,656 $2,767,773 $798,820 $1,361,110 $6,508,922 
Financing Receivable, Past Due
The following table presents an aging of loans at the dates indicated (in thousands):
 June 30, 2025December 31, 2024
 Current30 - 59
Days Past
Due		60 - 89
Days Past
Due		90 Days or
More Past
Due		TotalCurrent30 - 59
Days Past
Due		60 - 89
Days Past
Due		90 Days or
More Past
Due		Total
CRE$6,447,178 $— $— $26,287 $6,473,465 $6,145,386 $35,000 $— $33,806 $6,214,192 
C&I8,635,670 4,727 1,253 44,165 8,685,815 8,911,057 16,137 25,645 30,387 8,983,226 
Pinnacle - municipal finance694,639 — — — 694,639 720,661 — — — 720,661 
Franchise and equipment finance
149,022 — — — 149,022 213,477 — — — 213,477 
Mortgage warehouse lending 626,589 — — — 626,589 585,610 — — — 585,610 
1-4 single family residential6,262,842 25,892 4,460 17,738 6,310,932 6,452,828 32,975 6,155 16,964 6,508,922 
Government insured residential669,188 100,045 30,398 193,434 993,065 691,111 108,287 46,681 225,813 1,071,892 
 $23,485,128 $130,664 $36,111 $281,624 $23,933,527 $23,720,130 $192,399 $78,481 $306,970 $24,297,980 
Financing Receivable, Nonaccrual
The following table presents information about loans on non-accrual status at the dates indicated (in thousands):
June 30, 2025December 31, 2024
Amortized CostAmortized Cost With No Related AllowanceAmortized CostAmortized Cost With No Related Allowance
CRE$152,634 $112,599 $95,378 $65,004 
C&I195,897 53,452 125,226 41,929 
Franchise and equipment finance
4,066 2,611 6,010 4,345 
1-4 single family residential23,151 — 23,500 — 
$375,748 $168,662 $250,114 $111,278 
Schedule of Collateral Dependent Loans
The following table presents the amortized cost basis of collateral dependent loans at the dates indicated (in thousands):
June 30, 2025December 31, 2024
Amortized CostExtent to Which Secured by CollateralAmortized CostExtent to Which Secured by Collateral
CRE$152,041 $152,041 $94,283 $91,050 
C&I79,864 76,866 87,565 78,150 
Franchise and equipment finance 4,066 3,955 6,010 5,689 
 $235,971 $232,862 $187,858 $174,889 
Financing Receivable, Troubled Debt Restructuring
The following tables summarize loans that were modified for borrowers experiencing financial difficulty, by type of modification, during the periods indicated (dollars in thousands):
Three Months Ended June 30, 2025
Interest Rate ReductionTerm ExtensionOther than Insignificant Payment DelaysCombination - Interest Rate Reduction and Term ExtensionCombination - Interest Rate Reduction and Other than Insignificant Payment DelaysCombination - Term Extension and Other than Insignificant Payment Delays
Amortized Cost
% (1)
Amortized Cost
% (1)
Amortized Cost
% (1)
Amortized Cost
% (1)
Amortized Cost
% (1)
Amortized Cost
% (1)
Total
CRE$— — %$91,833 1 %$— — %$— — %$— — %$— — %$91,833 
C&I— — %10,451 — %29,816 — %— — %— — %— — %40,267 
1-4 single family residential36 — %— — %— — %— — %— — %— — %36 
Government insured residential— — %12,713 1 %— — %7,145 1 %— — %— — %19,858 
$36 $114,997 $29,816 $7,145 $— $— $151,994 
Six Months Ended June 30, 2025
Interest Rate Reduction Term ExtensionOther than Insignificant Payment Delays Combination - Interest Rate Reduction and Term Extension Combination - Interest Rate Reduction and Other than Insignificant Payment Delays Combination - Term Extension and Other than Insignificant Payment Delays
Amortized Cost
% (1)
Amortized Cost
% (1)
Amortized Cost
% (1)
Amortized Cost
% (1)
Amortized Cost
% (1)
Amortized Cost
% (1)
Total
CRE$— — %$91,833 1 %$— — %$— — %$8,912 — %$— — %$100,745 
C&I— — %10,451 — %50,395 1 %— — %— — %6,587 — %67,433 
1-4 single family residential36 — %— — %— — %— — %— — %— — %36 
Government insured residential— — %17,653 2 %— — %8,668 1 %— — %— — %26,321 
$36 $119,937 $50,395 $8,668 $8,912 $6,587 $194,535 
Three Months Ended June 30, 2024
Interest Rate Reduction Term ExtensionOther than Insignificant Payment Delays Combination - Interest Rate Reduction and Term Extension Combination - Interest Rate Reduction and Other than Insignificant Payment Delays Combination - Term Extension and Other than Insignificant Payment Delays
Amortized Cost
% (1)
Amortized Cost
% (1)
Amortized Cost
% (1)
Amortized Cost
% (1)
Amortized Cost
% (1)
Amortized Cost
% (1)
Total
CRE$— — %$1,293 — %$— — %$— — %$— — %$— — %$1,293 
C&I— — %95,694 1 %— — %— — %— — %— — %95,694 
Government insured residential— — %13,248 1 %— — %866 — %— — %— — %14,114 
$— $110,235 $— $866 $— $— $111,101 
Six Months Ended June 30, 2024
Interest Rate Reduction Term ExtensionOther than Insignificant Payment Delays Combination - Interest Rate Reduction and Term Extension Combination - Interest Rate Reduction and Other than Insignificant Payment Delays Combination - Term Extension and Other than Insignificant Payment Delays
Amortized Cost
% (1)
Amortized Cost
% (1)
Amortized Cost
% (1)
Amortized Cost
% (1)
Amortized Cost
% (1)
Amortized Cost
% (1)
Total
CRE$— — %$1,293 — %$— — %$— — %$— — %$— — %$1,293 
C&I— — %95,694 1 %— — %29 — %— — %— — %95,723 
Government insured residential— — %21,434 2 %— — %2,353 — %— — %— — %23,787 
$— $118,421 $— $2,382 $— $— $120,803 
(1)Represents percentage of loans receivable in each category.
The following tables summarize the financial effect of the modifications made to borrowers experiencing difficulty, during the periods indicated:
Three Months Ended June 30, 2025
Financial Effect
Interest Rate Reduction:
1-4 single family residential
Reduced weighted average contractual interest rate from 8.3% to 7.0%.
Term Extension:
CRE
Added a weighted average 0.9 year to the term of the modified loans.
C&I
Added a weighted average 0.6 year to the term of the modified loans.
Government insured residential
Added a weighted average 12.5 years to the term of the modified loans.
Other than Insignificant Payment Delays:
C&I
Provided 0.9 year of payment deferral.
Combination - Interest Rate Reduction and Term Extension:
Government insured residential
Reduced weighted average contractual interest rate from 7.3% to 7.1% and added a weighted average 3.5 years to the term of the modified loans.
Six Months Ended June 30, 2025
Financial Effect
Interest Rate Reduction:
1-4 single family residential
Reduced weighted average contractual interest rate from 8.3% to 7.0%.
Term Extension:
CRE
Added a weighted average 0.9 year to the term of the modified loans.
C&I
Added a weighted average 0.9 year to the term of the modified loans.
Government insured residential
Added a weighted average 12.1 years to the term of the modified loans.
Other than Insignificant Payment Delays:
C&I
Provided 0.7 year of payment deferral.
Combination - Interest Rate Reduction and Term Extension:
Government insured residential
Reduced weighted average contractual interest rate from 7.3% to 7.1% and added a weighted average 3.1 years to the term of the modified loans.
Combination - Interest Rate Reduction and Other than Insignificant Payment Delays:
CRE
Reduced weighted average contractual interest rate from 4.3% to 3.5% and provided 0.7 year of payment deferral.
Combination - Term Extension and Other than Insignificant Payment Delays:
C&I
Added a weighted average 0.6 years to the term of the modified loans and provided 1.3 years of payment deferral.
Three Months Ended June 30, 2024
Financial Effect
Term Extension:
CRE
Added a weighted average 1.0 year to the term of the modified loans.
C&I
Added a weighted average 1.6 years to the term of the modified loans.
Government insured residential
Added a weighted average 9.5 years to the term of the modified loans.
Combination - Interest Rate Reduction and Term Extension:
Government insured residential
Reduced weighted average contractual interest rate from 7.4% to 7.2% and added a weighted average 2.1 years to the term of the modified loans.
Six Months Ended June 30, 2024
Financial Effect
Term Extension:
CRE
Added a weighted average 1.0 year to the term of the modified loans.
C&I
Added a weighted average 1.6 years to the term of the modified loans.
Government insured residential
Added a weighted average 9.8 years to the term of the modified loans.
Combination - Interest Rate Reduction and Term Extension:
C&I
Reduced weighted average contractual interest rate from 21.2% to 5.0% and added a weighted average 2.2 years to the term of the modified loans.
Government insured residential
Reduced weighted average contractual interest rate from 6.8% to 6.3% and added a weighted average 4.6 years to the term of the modified loans.
The following tables present the aging at the dates indicated, of loans that were modified within the previous 12 months (in thousands):
June 30, 2025
Current 30-59 Days Past Due60-89 Days Past Due 90 Days or More Past DueTotal
CRE$163,759 $— $— $16,450 $180,209 
C&I94,846 2,148 — 826 97,820 
Franchise and equipment finance 1,455 — — — 1,455 
1-4 single family residential 36 169 — — 205 
Government insured residential 17,514 6,847 4,029 9,102 37,492 
$277,610 $9,164 $4,029 $26,378 $317,181 
June 30, 2024
Current 30-59 Days Past Due60-89 Days Past Due 90 Days or More Past DueTotal
CRE$1,293 $— $— $— $1,293 
C&I97,558 1,504 — — 99,062 
Franchise and equipment finance 9,402 — — — 9,402 
1-4 single family residential 73 — — — 73 
Government insured residential 14,577 7,047 6,712 17,126 45,462 
$122,903 $8,551 $6,712 $17,126 $155,292 
Financing Receivable, Modified, Subsequent Default
The following tables summarize loans that were modified within the previous 12 months and defaulted during the periods indicated (in thousands):
Three Months Ended June 30,
20252024
Term ExtensionOther than Insignificant Payment DelaysCombination - Interest Rate Reduction and Term ExtensionTotalTerm ExtensionOther than Insignificant Payment DelaysCombination - Interest Rate Reduction and Term ExtensionTotal
C&I$— $826 $— $826 $— $— $— $— 
Government insured residential2,685 — 2,529 5,214 8,060 — 1,084 9,144 
$2,685 $826 $2,529 $6,040 $8,060 $— $1,084 $9,144 
Six Months Ended June 30,
20252024
Term ExtensionOther than Insignificant Payment Delays Combination - Interest Rate Reduction and Term Extension TotalTerm ExtensionOther than Insignificant Payment DelaysCombination - Interest Rate Reduction and Term ExtensionTotal
C&I$— $1,007 $— $1,007 $— $— $— $— 
Government insured residential 5,859 — 3,901 9,760 16,231 — 1,956 18,187 
$5,859 $1,007 $3,901 $10,767 $16,231 $— $1,956 $18,187