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Loans and Allowance for Credit Losses (Tables) | 9 Months Ended
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Sep. 30, 2024
Receivables [Abstract] |
Schedule of Categories of Loans | The various categories of loans are summarized as follows:
| September 30, |  | December 31,
(In thousands) | 2024 |  | 2023
Consumer: |  |  |
Credit cards | $ | 177,696 |  |  | $ | 191,204 |
Other consumer | 113,896 |  |  | 127,462 |
Total consumer | 291,592 |  |  | 318,666 |
Real Estate: |  |  |
Construction and development | 2,796,378 |  |  | 3,144,220 |
Single family residential | 2,724,648 |  |  | 2,641,556 |
Other commercial | 7,992,437 |  |  | 7,552,410 |
Total real estate | 13,513,463 |  |  | 13,338,186 |
Commercial: |  |  |
Commercial | 2,467,384 |  |  | 2,490,176 |
Agricultural | 314,340 |  |  | 232,710 |
Total commercial | 2,781,724 |  |  | 2,722,886 |
Other | 749,261 |  |  | 465,932 |
Total loans | $ | 17,336,040 |  |  | $ | 16,845,670 |
Schedule of Nonaccrual Loans, Excluding Loans Acquired | The amortized cost basis of nonaccrual loans segregated by category of loans are as follows:
| September 30, |  | December 31,
(In thousands) | 2024 |  | 2023
Consumer: |  |  |
Credit cards | $ | 563 |  |  | $ | 487 |
Other consumer | 455 |  |  | 589 |
Total consumer | 1,018 |  |  | 1,076 |
Real estate: |  |  |
Construction and development | 5,497 |  |  | 2,457 |
Single family residential | 31,072 |  |  | 27,209 |
Other commercial | 27,018 |  |  | 11,960 |
Total real estate | 63,587 |  |  | 41,626 |
Commercial: |  |  |
Commercial | 35,648 |  |  | 39,886 |
Agricultural | 609 |  |  | 734 |
Total commercial | 36,257 |  |  | 40,620 |
Other | 3 |  |  | 3 |
Total | $ | 100,865 |  |  | $ | 83,325 |
Schedule of Aging Analysis of Past Due Loans, Excluding Loans Acquired | An age analysis of the amortized cost basis of past due loans, including nonaccrual loans, segregated by class of loans is as follows:
(In thousands) | Gross 30-89 Days Past Due |  | 90 Days or More Past Due |  | Total Past Due |  | Current |  | Total Loans |  | 90 Days Past Due & Accruing
September 30, 2024 |  |  |  |  |  |  |  |  |  |  |
Consumer: |  |  |  |  |  |  |  |  |  |  |
Credit cards | $ | 1,535 |  |  | $ | 706 |  |  | $ | 2,241 |  |  | $ | 175,455 |  |  | $ | 177,696 |  |  | $ | 561 |
Other consumer | 1,102 |  |  | 204 |  |  | 1,306 |  |  | 112,590 |  |  | 113,896 |  |  | — |
Total consumer | 2,637 |  |  | 910 |  |  | 3,547 |  |  | 288,045 |  |  | 291,592 |  |  | 561 |
Real estate: |  |  |  |  |  |  |  |  |  |  |
Construction and development | 4,338 |  |  | 1,438 |  |  | 5,776 |  |  | 2,790,602 |  |  | 2,796,378 |  |  | — |
Single family residential | 15,647 |  |  | 15,616 |  |  | 31,263 |  |  | 2,693,385 |  |  | 2,724,648 |  |  | 69 |
Other commercial | 12,161 |  |  | 21,959 |  |  | 34,120 |  |  | 7,958,317 |  |  | 7,992,437 |  |  | 86 |
Total real estate | 32,146 |  |  | 39,013 |  |  | 71,159 |  |  | 13,442,304 |  |  | 13,513,463 |  |  | 155 |
Commercial: |  |  |  |  |  |  |  |  |  |  |
Commercial | 12,407 |  |  | 24,566 |  |  | 36,973 |  |  | 2,430,411 |  |  | 2,467,384 |  |  | 114 |
Agricultural | 6 |  |  | 534 |  |  | 540 |  |  | 313,800 |  |  | 314,340 |  |  | — |
Total commercial | 12,413 |  |  | 25,100 |  |  | 37,513 |  |  | 2,744,211 |  |  | 2,781,724 |  |  | 114 |
Other | 277 |  |  | 3 |  |  | 280 |  |  | 748,981 |  |  | 749,261 |  |  | — |
Total | $ | 47,473 |  |  | $ | 65,026 |  |  | $ | 112,499 |  |  | $ | 17,223,541 |  |  | $ | 17,336,040 |  |  | $ | 830 |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |
Consumer: |  |  |  |  |  |  |  |  |  |  |
Credit cards | $ | 1,734 |  |  | $ | 892 |  |  | $ | 2,626 |  |  | $ | 188,578 |  |  | $ | 191,204 |  |  | $ | 791 |
Other consumer | 1,471 |  |  | 216 |  |  | 1,687 |  |  | 125,775 |  |  | 127,462 |  |  | — |
Total consumer | 3,205 |  |  | 1,108 |  |  | 4,313 |  |  | 314,353 |  |  | 318,666 |  |  | 791 |
Real estate: |  |  |  |  |  |  |  |  |  |  |
Construction and development | 3,171 |  |  | 2,190 |  |  | 5,361 |  |  | 3,138,859 |  |  | 3,144,220 |  |  | — |
Single family residential | 30,697 |  |  | 12,522 |  |  | 43,219 |  |  | 2,598,337 |  |  | 2,641,556 |  |  | 7 |
Other commercial | 4,702 |  |  | 3,612 |  |  | 8,314 |  |  | 7,544,096 |  |  | 7,552,410 |  |  | — |
Total real estate | 38,570 |  |  | 18,324 |  |  | 56,894 |  |  | 13,281,292 |  |  | 13,338,186 |  |  | 7 |
Commercial: |  |  |  |  |  |  |  |  |  |  |
Commercial | 13,799 |  |  | 22,750 |  |  | 36,549 |  |  | 2,453,627 |  |  | 2,490,176 |  |  | 349 |
Agricultural | 92 |  |  | 516 |  |  | 608 |  |  | 232,102 |  |  | 232,710 |  |  | — |
Total commercial | 13,891 |  |  | 23,266 |  |  | 37,157 |  |  | 2,685,729 |  |  | 2,722,886 |  |  | 349 |
Other | — |  |  | 3 |  |  | 3 |  |  | 465,929 |  |  | 465,932 |  |  | — |
Total | $ | 55,666 |  |  | $ | 42,701 |  |  | $ | 98,367 |  |  | $ | 16,747,303 |  |  | $ | 16,845,670 |  |  | $ | 1,147 |
Schedule of Loans by Credit Risk Rating | The following table presents a summary of loans by credit quality indicator, as of September 30, 2024, segregated by class of loans.
| Term Loans Amortized Cost Basis by Origination Year |  |  |  |  |  |
(In thousands) | 2024 (YTD) |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 and Prior |  | Lines of Credit (“LOC”) Amortized Cost Basis |  | LOC Converted to Term Loans Amortized Cost Basis |  | Total
Consumer - credit cards |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Delinquency: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 175,455 |  |  | $ | — |  |  | $ | 175,455 |
30-89 days past due | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,535 |  |  | — |  |  | 1,535 |
90+ days past due | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 706 |  |  | — |  |  | 706 |
Total consumer - credit cards | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 177,696 |  |  | — |  |  | 177,696 |
Current-period consumer - credit cards gross charge-offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4,808 |  |  | — |  |  | 4,808 |
Consumer - other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Delinquency: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | 41,396 |  |  | 21,390 |  |  | 21,556 |  |  | 6,121 |  |  | 1,662 |  |  | 1,142 |  |  | 19,323 |  |  | — |  |  | 112,590 |
30-89 days past due | 182 |  |  | 84 |  |  | 605 |  |  | 35 |  |  | 50 |  |  | 60 |  |  | 86 |  |  | — |  |  | 1,102 |
90+ days past due | 15 |  |  | 66 |  |  | 44 |  |  | 20 |  |  | 1 |  |  | — |  |  | 58 |  |  | — |  |  | 204 |
Total consumer - other | 41,593 |  |  | 21,540 |  |  | 22,205 |  |  | 6,176 |  |  | 1,713 |  |  | 1,202 |  |  | 19,467 |  |  | — |  |  | 113,896 |
Current-period consumer - other gross charge-offs | 89 |  |  | 567 |  |  | 446 |  |  | 94 |  |  | 9 |  |  | 6 |  |  | 175 |  |  | — |  |  | 1,386 |
Real estate - C&D |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 38,923 |  |  | 122,586 |  |  | 71,963 |  |  | 32,303 |  |  | 18,737 |  |  | 24,537 |  |  | 2,474,525 |  |  | — |  |  | 2,783,574 |
Special mention | — |  |  | — |  |  | 65 |  |  | — |  |  | — |  |  | 381 |  |  | 2,790 |  |  | — |  |  | 3,236 |
Substandard | 59 |  |  | 69 |  |  | 26 |  |  | 3,957 |  |  | — |  |  | 99 |  |  | 5,358 |  |  | — |  |  | 9,568 |
Doubtful and loss | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total real estate - C&D | 38,982 |  |  | 122,655 |  |  | 72,054 |  |  | 36,260 |  |  | 18,737 |  |  | 25,017 |  |  | 2,482,673 |  |  | — |  |  | 2,796,378 |
Current-period real estate - C&D gross charge-offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 52 |  |  | — |  |  | 52 |
Real estate - SF residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Delinquency: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | 198,979 |  |  | 338,458 |  |  | 578,282 |  |  | 326,621 |  |  | 196,334 |  |  | 588,250 |  |  | 466,461 |  |  | — |  |  | 2,693,385 |
30-89 days past due | 904 |  |  | 1,406 |  |  | 3,259 |  |  | 680 |  |  | 479 |  |  | 6,253 |  |  | 2,666 |  |  | — |  |  | 15,647 |
90+ days past due | — |  |  | 299 |  |  | 4,490 |  |  | 1,945 |  |  | 1,124 |  |  | 3,622 |  |  | 4,136 |  |  | — |  |  | 15,616 |
Total real estate - SF residential | 199,883 |  |  | 340,163 |  |  | 586,031 |  |  | 329,246 |  |  | 197,937 |  |  | 598,125 |  |  | 473,263 |  |  | — |  |  | 2,724,648 |
Current-period real estate - SF residential gross charge-offs | 3 |  |  | 46 |  |  | 136 |  |  | — |  |  | 1 |  |  | 69 |  |  | 56 |  |  | — |  |  | 311 |
Real estate - other commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 429,871 |  |  | 512,184 |  |  | 1,582,389 |  |  | 1,107,417 |  |  | 461,159 |  |  | 705,341 |  |  | 2,762,717 |  |  | — |  |  | 7,561,078 |
Special mention | 9,489 |  |  | 16,352 |  |  | 14,682 |  |  | 18,191 |  |  | 1,480 |  |  | 14,658 |  |  | 99,584 |  |  | — |  |  | 174,436 |
Substandard | 7,465 |  |  | 17,184 |  |  | 24,623 |  |  | 6,810 |  |  | 12,058 |  |  | 35,403 |  |  | 153,380 |  |  | — |  |  | 256,923 |
Doubtful and loss | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total real estate - other commercial | 446,825 |  |  | 545,720 |  |  | 1,621,694 |  |  | 1,132,418 |  |  | 474,697 |  |  | 755,402 |  |  | 3,015,681 |  |  | — |  |  | 7,992,437 |
Current-period real estate - other commercial gross charge-offs | — |  |  | 2,592 |  |  | — |  |  | 15 |  |  | — |  |  | 1 |  |  | 168 |  |  | — |  |  | 2,776 |
| Term Loans Amortized Cost Basis by Origination Year |  |  |  |  |  |
(In thousands) | 2024 (YTD) |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 and Prior |  | Lines of Credit (“LOC”) Amortized Cost Basis |  | LOC Converted to Term Loans Amortized Cost Basis |  | Total
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 187,831 |  |  | 307,100 |  |  | 274,746 |  |  | 138,826 |  |  | 33,779 |  |  | 68,645 |  |  | 1,380,054 |  |  | — |  |  | 2,390,981 |
Special mention | 124 |  |  | 27 |  |  | 563 |  |  | 420 |  |  | 137 |  |  | 1,274 |  |  | 11,477 |  |  | — |  |  | 14,022 |
Substandard | 1,203 |  |  | 2,266 |  |  | 16,847 |  |  | 3,602 |  |  | 3,389 |  |  | 6,448 |  |  | 28,626 |  |  | — |  |  | 62,381 |
Doubtful and loss | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total commercial | 189,158 |  |  | 309,393 |  |  | 292,156 |  |  | 142,848 |  |  | 37,305 |  |  | 76,367 |  |  | 1,420,157 |  |  | — |  |  | 2,467,384 |
Current-period commercial - gross charge-offs | 159 |  |  | 487 |  |  | 3,466 |  |  | 3,025 |  |  | 494 |  |  | 1,521 |  |  | 10,682 |  |  | — |  |  | 19,834 |
Commercial - agriculture |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 24,611 |  |  | 25,131 |  |  | 22,533 |  |  | 9,561 |  |  | 3,078 |  |  | 1,887 |  |  | 224,796 |  |  | — |  |  | 311,597 |
Special mention | 1,238 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 511 |  |  | — |  |  | 1,749 |
Substandard | — |  |  | 15 |  |  | 33 |  |  | — |  |  | 154 |  |  | 14 |  |  | 778 |  |  | — |  |  | 994 |
Doubtful and loss | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total commercial - agriculture | 25,849 |  |  | 25,146 |  |  | 22,566 |  |  | 9,561 |  |  | 3,232 |  |  | 1,901 |  |  | 226,085 |  |  | — |  |  | 314,340 |
Current-period commercial - agriculture gross charge-offs | — |  |  | 222 |  |  | — |  |  | 8 |  |  | 6 |  |  | — |  |  | 1 |  |  | — |  |  | 237 |
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Delinquency: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | 35,103 |  |  | 36,091 |  |  | 140,685 |  |  | 27,563 |  |  | 1,564 |  |  | 31,530 |  |  | 476,445 |  |  | — |  |  | 748,981 |
30-89 days past due | — |  |  | 277 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 277 |
90+ days past due | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3 |  |  | — |  |  | — |  |  | 3 |
Total other | 35,103 |  |  | 36,368 |  |  | 140,685 |  |  | 27,563 |  |  | 1,564 |  |  | 31,533 |  |  | 476,445 |  |  | — |  |  | 749,261 |
Current-period other - gross charge-offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 420 |  |  | — |  |  | 420 |
Total | $ | 977,393 |  |  | $ | 1,400,985 |  |  | $ | 2,757,391 |  |  | $ | 1,684,072 |  |  | $ | 735,185 |  |  | $ | 1,489,547 |  |  | $ | 8,291,467 |  |  | $ | — |  |  | $ | 17,336,040 |
The following table presents a summary of loans by credit quality indicator, as of December 31, 2023, segregated by class of loans.
| Term Loans Amortized Cost Basis by Origination Year |  |  |  |  |  |
(In thousands) | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 and Prior |  | Lines of Credit (“LOC”) Amortized Cost Basis |  | LOC Converted to Term Loans Amortized Cost Basis |  | Total
Consumer - credit cards |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Delinquency: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 188,578 |  |  | $ | — |  |  | $ | 188,578 |
30-89 days past due | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,734 |  |  | — |  |  | 1,734 |
90+ days past due | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 892 |  |  | — |  |  | 892 |
Total consumer - credit cards | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 191,204 |  |  | — |  |  | 191,204 |
Current-period consumer - credit cards gross charge-offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 5,303 |  |  | — |  |  | 5,303 |
Consumer - other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Delinquency: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | 55,091 |  |  | 35,904 |  |  | 12,115 |  |  | 3,838 |  |  | 1,471 |  |  | 1,106 |  |  | 16,250 |  |  | — |  |  | 125,775 |
30-89 days past due | 400 |  |  | 719 |  |  | 127 |  |  | 53 |  |  | 2 |  |  | 16 |  |  | 154 |  |  | — |  |  | 1,471 |
90+ days past due | 35 |  |  | 127 |  |  | 46 |  |  | — |  |  | — |  |  | — |  |  | 8 |  |  | — |  |  | 216 |
Total consumer - other | 55,526 |  |  | 36,750 |  |  | 12,288 |  |  | 3,891 |  |  | 1,473 |  |  | 1,122 |  |  | 16,412 |  |  | — |  |  | 127,462 |
Current-period consumer - other gross charge-offs | 220 |  |  | 826 |  |  | 493 |  |  | 79 |  |  | 29 |  |  | 128 |  |  | 449 |  |  | — |  |  | 2,224 |
Real estate - C&D |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 138,749 |  |  | 143,711 |  |  | 52,081 |  |  | 45,027 |  |  | 10,278 |  |  | 13,632 |  |  | 2,710,853 |  |  | 504 |  |  | 3,114,835 |
Special mention | — |  |  | 1,143 |  |  | 7,284 |  |  | — |  |  | — |  |  | 396 |  |  | 16,682 |  |  | — |  |  | 25,505 |
Substandard | — |  |  | 101 |  |  | 48 |  |  | — |  |  | — |  |  | 247 |  |  | 3,484 |  |  | — |  |  | 3,880 |
Doubtful and loss | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total real estate - C&D | 138,749 |  |  | 144,955 |  |  | 59,413 |  |  | 45,027 |  |  | 10,278 |  |  | 14,275 |  |  | 2,731,019 |  |  | 504 |  |  | 3,144,220 |
Current-period real estate - C&D gross charge-offs | — |  |  | 1,148 |  |  | — |  |  | — |  |  | — |  |  | 8 |  |  | 349 |  |  | — |  |  | 1,505 |
Real estate - SF residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Delinquency: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | 371,326 |  |  | 620,933 |  |  | 352,589 |  |  | 238,128 |  |  | 121,416 |  |  | 504,675 |  |  | 388,705 |  |  | 565 |  |  | 2,598,337 |
30-89 days past due | 5,222 |  |  | 5,061 |  |  | 3,667 |  |  | 2,283 |  |  | 1,741 |  |  | 9,759 |  |  | 2,964 |  |  | — |  |  | 30,697 |
90+ days past due | 1,313 |  |  | 2,443 |  |  | 1,810 |  |  | 1,661 |  |  | 120 |  |  | 3,465 |  |  | 1,710 |  |  | — |  |  | 12,522 |
Total real estate - SF residential | 377,861 |  |  | 628,437 |  |  | 358,066 |  |  | 242,072 |  |  | 123,277 |  |  | 517,899 |  |  | 393,379 |  |  | 565 |  |  | 2,641,556 |
Current-period real estate - SF residential gross charge-offs | — |  |  | 111 |  |  | 12 |  |  | 73 |  |  | — |  |  | 677 |  |  | 232 |  |  | — |  |  | 1,105 |
Real estate - other commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 729,602 |  |  | 1,651,010 |  |  | 1,237,810 |  |  | 621,595 |  |  | 171,230 |  |  | 417,122 |  |  | 2,333,637 |  |  | — |  |  | 7,162,006 |
Special mention | 37,302 |  |  | 8,458 |  |  | 10,149 |  |  | 7,844 |  |  | 1,364 |  |  | 11,604 |  |  | 84,978 |  |  | — |  |  | 161,699 |
Substandard | 40,664 |  |  | 10,290 |  |  | 4,495 |  |  | 16,646 |  |  | 6,293 |  |  | 9,861 |  |  | 140,454 |  |  | — |  |  | 228,703 |
Doubtful and loss | — |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2 |
Total real estate - other commercial | 807,568 |  |  | 1,669,758 |  |  | 1,252,454 |  |  | 646,087 |  |  | 178,887 |  |  | 438,587 |  |  | 2,559,069 |  |  | — |  |  | 7,552,410 |
Current-period real estate - other commercial gross charge-offs | — |  |  | — |  |  | — |  |  | 7 |  |  | 2 |  |  | 35 |  |  | 9,731 |  |  | — |  |  | 9,775 |
| Term Loans Amortized Cost Basis by Origination Year |  |  |  |  |  |
(In thousands) | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 and Prior |  | Lines of Credit (“LOC”) Amortized Cost Basis |  | LOC Converted to Term Loans Amortized Cost Basis |  | Total
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 440,872 |  |  | 354,016 |  |  | 200,941 |  |  | 67,320 |  |  | 27,374 |  |  | 42,953 |  |  | 1,271,826 |  |  | — |  |  | 2,405,302 |
Special mention | 157 |  |  | 14,117 |  |  | 316 |  |  | 367 |  |  | 98 |  |  | 889 |  |  | 8,228 |  |  | — |  |  | 24,172 |
Substandard | 1,998 |  |  | 11,874 |  |  | 6,272 |  |  | 2,934 |  |  | 1,722 |  |  | 3,392 |  |  | 32,510 |  |  | — |  |  | 60,702 |
Doubtful and loss | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total commercial | 443,027 |  |  | 380,007 |  |  | 207,529 |  |  | 70,621 |  |  | 29,194 |  |  | 47,234 |  |  | 1,312,564 |  |  | — |  |  | 2,490,176 |
Current-period commercial - gross charge-offs | 463 |  |  | 2,081 |  |  | 778 |  |  | 197 |  |  | 244 |  |  | 815 |  |  | 1,351 |  |  | — |  |  | 5,929 |
Commercial - agriculture |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 39,680 |  |  | 30,075 |  |  | 13,940 |  |  | 6,280 |  |  | 2,071 |  |  | 303 |  |  | 134,180 |  |  | — |  |  | 226,529 |
Special mention | 363 |  |  | 733 |  |  | 1,068 |  |  | — |  |  | — |  |  | — |  |  | 3,257 |  |  | — |  |  | 5,421 |
Substandard | 518 |  |  | 37 |  |  | 71 |  |  | 104 |  |  | 26 |  |  | — |  |  | 4 |  |  | — |  |  | 760 |
Doubtful and loss | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total commercial - agriculture | 40,561 |  |  | 30,845 |  |  | 15,079 |  |  | 6,384 |  |  | 2,097 |  |  | 303 |  |  | 137,441 |  |  | — |  |  | 232,710 |
Current-period commercial - agriculture gross charge-offs | — |  |  | 7 |  |  | — |  |  | — |  |  | — |  |  | 26 |  |  | — |  |  | — |  |  | 33 |
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Delinquency: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current | 45,234 |  |  | 144,732 |  |  | 28,413 |  |  | 2,543 |  |  | 3,255 |  |  | 36,719 |  |  | 205,033 |  |  | — |  |  | 465,929 |
30-89 days past due | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
90+ days past due | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3 |  |  | — |  |  | — |  |  | 3 |
Total other | 45,234 |  |  | 144,732 |  |  | 28,413 |  |  | 2,543 |  |  | 3,255 |  |  | 36,722 |  |  | 205,033 |  |  | — |  |  | 465,932 |
Current-period other - gross charge-offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 298 |  |  | — |  |  | 298 |
Total | $ | 1,908,526 |  |  | $ | 3,035,484 |  |  | $ | 1,933,242 |  |  | $ | 1,016,625 |  |  | $ | 348,461 |  |  | $ | 1,056,142 |  |  | $ | 7,546,121 |  |  | $ | 1,069 |  |  | $ | 16,845,670 |
Schedule of the Activity in the Allowance for Loan Losses | The collateral securing these loans consist of commercial real estate properties, residential properties, and other business assets.
(In thousands) | Real Estate Collateral |  | Other Collateral |  | Total
September 30, 2024 |  |  |  |  |
Construction and development | $ | 903 |  |  | $ | — |  |  | $ | 903 |
Single family residential | — |  |  | — |  |  | — |
Other commercial real estate | 80,591 |  |  | — |  |  | 80,591 |
Commercial | — |  |  | 28,154 |  |  | 28,154 |
Total | $ | 81,494 |  |  | $ | 28,154 |  |  | $ | 109,648 |
December 31, 2023 |  |  |  |  |
Construction and development | $ | 43,826 |  |  | $ | — |  |  | $ | 43,826 |
Single family residential | 3,870 |  |  | — |  |  | 3,870 |
Other commercial real estate | 76,229 |  |  | — |  |  | 76,229 |
Commercial | — |  |  | 20,679 |  |  | 20,679 |
Total | $ | 123,925 |  |  | $ | 20,679 |  |  | $ | 144,604 |
The following table details activity in the allowance for credit losses by portfolio segment for the three and nine months ended September 30, 2024. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.
(In thousands) | Commercial |  | Real Estate |  | Credit Card |  | Other Consumer and Other |  | Total
Allowance for credit losses: |  |  |  |  |  |  |  |  |
Three Months Ended September 30, 2024 |  |  |  |  |  |  |  |  |
Beginning balance, July 1, 2024 | $ | 43,550 |  |  | $ | 175,176 |  |  | $ | 5,765 |  |  | $ | 5,898 |  |  | $ | 230,389 |
Provision for credit loss expense | 8,088 |  |  | 1,598 |  |  | 1,755 |  |  | 707 |  |  | 12,148 |
Charge-offs | (8,235) |  |  | (159) |  |  | (1,744) |  |  | (524) |  |  | (10,662) |
Recoveries | 439 |  |  | 403 |  |  | 231 |  |  | 275 |  |  | 1,348 |
Net (charge-offs) recoveries | (7,796) |  |  | 244 |  |  | (1,513) |  |  | (249) |  |  | (9,314) |
Ending balance, September 30, 2024 | $ | 43,842 |  |  | $ | 177,018 |  |  | $ | 6,007 |  |  | $ | 6,356 |  |  | $ | 233,223 |
Nine Months Ended September 30, 2024 |  |  |  |  |  |  |  |  |
Beginning balance, January 1, 2024 | $ | 36,470 |  |  | $ | 177,177 |  |  | $ | 5,868 |  |  | $ | 5,716 |  |  | $ | 225,231 |
Provision for credit loss expense | 26,107 |  |  | 1,770 |  |  | 4,247 |  |  | 1,329 |  |  | 33,453 |
Charge-offs | (20,071) |  |  | (3,139) |  |  | (4,808) |  |  | (1,806) |  |  | (29,824) |
Recoveries | 1,336 |  |  | 1,210 |  |  | 700 |  |  | 1,117 |  |  | 4,363 |
Net (charge-offs) recoveries | (18,735) |  |  | (1,929) |  |  | (4,108) |  |  | (689) |  |  | (25,461) |
Ending balance, September 30, 2024 | $ | 43,842 |  |  | $ | 177,018 |  |  | $ | 6,007 |  |  | $ | 6,356 |  |  | $ | 233,223 |
Activity in the allowance for credit losses for the three and nine months ended September 30, 2023 was as follows:
(In thousands) | Commercial |  | Real Estate |  | Credit Card |  | Other Consumer and Other |  | Total
Allowance for credit losses: |  |  |  |  |  |  |  |  |
Three Months Ended September 30, 2023 |  |  |  |  |  |  |  |  |
Beginning balance, July 1, 2023 | $ | 30,985 |  |  | $ | 165,813 |  |  | $ | 6,330 |  |  | $ | 6,838 |  |  | $ | 209,966 |
Provision for credit loss expense | 4,095 |  |  | 16,528 |  |  | 704 |  |  | (1,105) |  |  | 20,222 |
Charge-offs | (1,219) |  |  | (9,723) |  |  | (1,318) |  |  | (633) |  |  | (12,893) |
Recoveries | 245 |  |  | 429 |  |  | 234 |  |  | 344 |  |  | 1,252 |
Net (charge-offs) recoveries | (974) |  |  | (9,294) |  |  | (1,084) |  |  | (289) |  |  | (11,641) |
Ending balance, September 30, 2023 | $ | 34,106 |  |  | $ | 173,047 |  |  | $ | 5,950 |  |  | $ | 5,444 |  |  | $ | 218,547 |
Nine Months Ended September 30, 2023 |  |  |  |  |  |  |  |  |
Beginning balance, January 1, 2023 | $ | 34,406 |  |  | $ | 150,795 |  |  | $ | 5,140 |  |  | $ | 6,614 |  |  | $ | 196,955 |
Provision for credit loss expense | 774 |  |  | 32,013 |  |  | 3,847 |  |  | (435) |  |  | 36,199 |
Charge-offs | (2,857) |  |  | (11,362) |  |  | (3,803) |  |  | (1,755) |  |  | (19,777) |
Recoveries | 1,783 |  |  | 1,601 |  |  | 766 |  |  | 1,020 |  |  | 5,170 |
Net (charge-offs) recoveries | (1,074) |  |  | (9,761) |  |  | (3,037) |  |  | (735) |  |  | (14,607) |
Ending balance, September 30, 2023 | $ | 34,106 |  |  | $ | 173,047 |  |  | $ | 5,950 |  |  | $ | 5,444 |  |  | $ | 218,547 |
The components of the provision for credit losses for the three and nine month periods ended September 30, 2024 and 2023 were as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Provision for credit losses related to: |  |  |  |  |  |  |
Loans | $ | 12,148 |  |  | $ | 20,222 |  |  | $ | 33,453 |  |  | $ | 36,199 |
Unfunded commitments | — |  |  | (11,300) |  |  | — |  |  | (16,300) |
Securities - HTM | — |  |  | — |  |  | — |  |  | 1,826 |
Securities - AFS | — |  |  | (1,200) |  |  | — |  |  | 10,274 |
Total | $ | 12,148 |  |  | $ | 7,722 |  |  | $ | 33,453 |  |  | $ | 31,999 |
Schedule of Financing Receivable, Purchased With Credit Deterioration | The following table provides a summary of loans purchased as part of the Spirit acquisition with credit deterioration at acquisition:
(In thousands) | Commercial |  | Real Estate |  | Credit Card |  | Other Consumer and Other |  | Total
Unpaid principal balance | $ | 8,258 |  |  | $ | 66,534 |  |  | $ | — |  |  | $ | 59 |  |  | $ | 74,851 |
PCD allowance for credit loss at acquisition | (6,433) |  |  | (3,187) |  |  | — |  |  | (2) |  |  | (9,622) |
Non-credit related discount | (378) |  |  | (998) |  |  | — |  |  | (1) |  |  | (1,377) |
Fair value of PCD loans | $ | 1,447 |  |  | $ | 62,349 |  |  | $ | — |  |  | $ | 56 |  |  | $ | 63,852 |
Schedule of Troubled Debt Restructuring | The following table presents a summary of the amortized cost basis of loan modifications granted to borrowers experiencing financial difficulty, segregated by class of loans and type of loan modification, for the three and nine month periods ended September 30, 2024.
|  |  | Percent of
| Interest Rate |  | Total Class
(Dollars in thousands) | Reduction |  | of Loans
Three Months Ended September 30, 2024 |  |  |
Real estate: |  |  |
Single family residential | $ | 142 |  |  | 0.01 | %
Total real estate | $ | 142 |  |  |
Nine Months Ended September 30, 2024 |  |  |
Real estate: |  |  |
Single family residential | $ | 795 |  |  | 0.03 | %
Total real estate | $ | 795 |  |  |
The following table presents a summary of the amortized cost basis of loan modifications granted to borrowers experiencing financial difficulty, segregated by class of loans and type of loan modification, for the three and nine month periods ended September 30, 2023.
|  |  | Percent of
|  |  | Total Class
(Dollars in thousands) | Term Extension |  | of Loans
Three Months Ended September 30, 2023 |  |  |
Real estate: |  |  |
Other commercial | $ | 30,617 |  |  | 0.40 | %
Total real estate | 30,617 |  |  |
Commercial: |  |  |
Commercial | 85 |  |  | — | %
Total commercial | 85 |  |  |
Total | $ | 30,702 |  |  |
Nine Months Ended September 30, 2023 |  |  |
Real estate: |  |  |
Other commercial | $ | 30,617 |  |  | 0.40 | %
Total real estate | 30,617 |  |  |
Commercial: |  |  |
Commercial | 736 |  |  | 0.03 | %
Total commercial | 736 |  |  |
Total | $ | 31,353 |  |  |

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