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Loans | 3 Months Ended
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Mar. 31, 2025
Receivables [Abstract] |
Loans | Loans Loans held for investment are categorized into the following segments: •Construction and land development: Loans are extended to both commercial and consumer customers which are collateralized by and for the purpose of funding land development and construction projects, including commercial, 1-4 family residential, multi-family, and non-farm residential properties where the primary source of repayment is from proceeds of the sale, refinancing or permanent financing of the property. •Commercial real estate - owner occupied: Loans are extended to commercial customers for the purpose of acquiring or refinancing real estate to be occupied by the borrower’s business. These loans are collateralized by the subject property and the repayment of these loans is largely dependent on the performance of the company occupying the property. •Commercial real estate - non-owner occupied: Loans are extended to commercial customers for the purpose of acquiring or refinancing commercial property where occupancy by the borrower is not their primary intent. These loans are viewed primarily as cash flow loans, collateralized by the subject property, and the repayment of these loans is largely dependent on rental income from third parties or from the sale of the property. •Residential real estate: Loans are extended to consumer customers and collateralized primarily by 1-4 family residential properties and include fixed and variable rate mortgages, home equity mortgages, and home equity lines of credit. Loans are primarily written based on conventional loan agency guidelines, including loans that exceed agency value limitations. Sources of repayment are largely dependent on the occupant of the residential property. •Commercial and financial: Loans are extended to commercial customers. The purpose of the loans can be working capital, physical asset expansion, asset acquisition, or other business purposes. Loans may be collateralized by assets owned by the borrower or the borrower’s business. Commercial loans are based primarily on the historical and projected cash flow of the borrower’s business and secondarily on the capacity of credit enhancements, guarantees, and underlying collateral provided by the borrower. •Consumer: Loans are extended to consumer customers. The segment includes both installment loans and lines of credit which may be collateralized or non-collateralized. The following tables present net loan balances by segment for portfolio loans, PCD and loans purchased which are not considered credit deteriorated (“Non-PCD”) as of:
|  | March 31, 2025
(In thousands) |  | Portfolio Loans |  | Acquired Non-PCD Loans |  | PCD Loans |  | Total
Construction and land development |  | $ | 559,883 |  |  | $ | 58,076 |  |  | $ | 534 |  |  | $ | 618,493 |
Commercial real estate - owner occupied |  | 1,222,670 |  |  | 461,936 |  |  | 28,973 |  |  | 1,713,579 |
Commercial real estate - non-owner occupied |  | 2,329,640 |  |  | 1,091,992 |  |  | 91,768 |  |  | 3,513,400 |
Residential real estate |  | 1,934,625 |  |  | 704,205 |  |  | 14,182 |  |  | 2,653,012 |
Commercial and financial |  | 1,551,312 |  |  | 181,145 |  |  | 20,633 |  |  | 1,753,090 |
Consumer |  | 154,402 |  |  | 36,846 |  |  | 199 |  |  | 191,447 |
Totals |  | $ | 7,752,532 |  |  | $ | 2,534,200 |  |  | $ | 156,289 |  |  | $ | 10,443,021 |
|  | December 31, 2024
(In thousands) |  | Portfolio Loans |  | Acquired Non-PCD Loans |  | PCD Loans |  | Total
Construction and land development |  | $ | 568,148 |  |  | $ | 79,370 |  |  | $ | 535 |  |  | $ | 648,053 |
Commercial real estate - owner occupied |  | 1,177,538 |  |  | 477,459 |  |  | 31,632 |  |  | 1,686,629 |
Commercial real estate - non-owner occupied |  | 2,243,056 |  |  | 1,156,849 |  |  | 103,903 |  |  | 3,503,808 |
Residential real estate |  | 1,882,955 |  |  | 719,589 |  |  | 14,241 |  |  | 2,616,785 |
Commercial and financial |  | 1,424,689 |  |  | 199,146 |  |  | 27,519 |  |  | 1,651,354 |
Consumer |  | 155,786 |  |  | 37,282 |  |  | 253 |  |  | 193,321 |
Totals |  | $ | 7,452,172 |  |  | $ | 2,669,695 |  |  | $ | 178,083 |  |  | $ | 10,299,950 |
The amortized cost basis of loans included net deferred costs of $47.0 million at March 31, 2025 and $43.9 million at December 31, 2024. At March 31, 2025, the remaining fair value adjustments on acquired loans were $119.5 million, or 4.3% of the outstanding acquired loan balances, compared to $128.1 million, or 4.3% of the acquired loan balances at December 31, 2024. The discount is accreted into interest income over the remaining lives of the related loans on a level yield basis. Accrued interest receivable is included within Other Assets and was $39.0 million and $38.1 million at March 31, 2025 and December 31, 2024, respectively. The following tables present the status of net loan balances as of March 31, 2025 and December 31, 2024.
|  | March 31, 2025
(In thousands) |  | Current |  | Accruing 30-59 Days Past Due |  | Accruing 60-89 Days Past Due |  | Accruing Greater Than 90 Days |  | Nonaccrual |  | Total
Portfolio Loans |  |  |  |  |  |  |  |  |  |  |  |
Construction and land development |  | $ | 557,384 |  |  | $ | 2,396 |  |  | $ | — |  |  | $ | — |  |  | $ | 103 |  |  | $ | 559,883 |
Commercial real estate - owner occupied |  | 1,214,804 |  |  | 5,723 |  |  | — |  |  | — |  |  | 2,143 |  |  | 1,222,670 |
Commercial real estate - non-owner occupied |  | 2,316,118 |  |  | 594 |  |  | — |  |  | — |  |  | 12,928 |  |  | 2,329,640 |
Residential real estate |  | 1,923,523 |  |  | 3,135 |  |  | 722 |  |  | — |  |  | 7,245 |  |  | 1,934,625 |
Commercial and financial |  | 1,539,318 |  |  | 1,088 |  |  | 167 |  |  | — |  |  | 10,739 |  |  | 1,551,312 |
Consumer |  | 153,068 |  |  | 617 |  |  | — |  |  | — |  |  | 717 |  |  | 154,402 |
Total Portfolio Loans |  | $ | 7,704,215 |  |  | $ | 13,553 |  |  | $ | 889 |  |  | $ | — |  |  | $ | 33,875 |  |  | $ | 7,752,532 |
Acquired Non-PCD Loans |  |  |  |  |  |  |  |  |  |  |  |
Construction and land development |  | $ | 57,295 |  |  | $ | 168 |  |  | $ | 30 |  |  | $ | 64 |  |  | $ | 519 |  |  | $ | 58,076 |
Commercial real estate - owner occupied |  | 457,542 |  |  | 702 |  |  | — |  |  | — |  |  | 3,692 |  |  | 461,936 |
Commercial real estate - non-owner occupied |  | 1,089,164 |  |  | 63 |  |  | — |  |  | — |  |  | 2,765 |  |  | 1,091,992 |
Residential real estate |  | 693,088 |  |  | 892 |  |  | 129 |  |  | — |  |  | 10,096 |  |  | 704,205 |
Commercial and financial |  | 177,773 |  |  | — |  |  | — |  |  | — |  |  | 3,372 |  |  | 181,145 |
Consumer |  | 33,510 |  |  | 6 |  |  | — |  |  | — |  |  | 3,330 |  |  | 36,846 |
Total Acquired Non-PCD Loans |  | $ | 2,508,372 |  |  | $ | 1,831 |  |  | $ | 159 |  |  | $ | 64 |  |  | $ | 23,774 |  |  | $ | 2,534,200 |
PCD Loans |  |  |  |  |  |  |  |  |  |  |  |
Construction and land development |  | $ | 42 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 492 |  |  | $ | 534 |
Commercial real estate - owner occupied |  | 27,188 |  |  | — |  |  | — |  |  | — |  |  | 1,785 |  |  | 28,973 |
Commercial real estate - non-owner occupied |  | 84,579 |  |  | 525 |  |  | — |  |  | — |  |  | 6,664 |  |  | 91,768 |
Residential real estate |  | 13,319 |  |  | — |  |  | 167 |  |  | — |  |  | 696 |  |  | 14,182 |
Commercial and financial |  | 16,926 |  |  | — |  |  | — |  |  | — |  |  | 3,707 |  |  | 20,633 |
Consumer |  | 174 |  |  | — |  |  | — |  |  | — |  |  | 25 |  |  | 199 |
Total PCD Loans |  | $ | 142,228 |  |  | $ | 525 |  |  | $ | 167 |  |  | $ | — |  |  | $ | 13,369 |  |  | $ | 156,289 |
Total Loans |  | $ | 10,354,815 |  |  | $ | 15,909 |  |  | $ | 1,215 |  |  | $ | 64 |  |  | $ | 71,018 |  |  | $ | 10,443,021 |
|  | December 31, 2024
(In thousands) |  | Current |  | Accruing 30-59 Days Past Due |  | Accruing 60-89 Days Past Due |  | Accruing Greater Than 90 Days |  | Nonaccrual |  | Total
Portfolio Loans |  |  |  |  |  |  |  |  |  |  |  |
Construction and land development |  | $ | 567,896 |  |  | $ | 127 |  |  | $ | — |  |  | $ | — |  |  | $ | 125 |  |  | $ | 568,148 |
Commercial real estate - owner occupied |  | 1,172,287 |  |  | 3,083 |  |  | — |  |  | — |  |  | 2,168 |  |  | 1,177,538 |
Commercial real estate - non-owner occupied |  | 2,225,216 |  |  | 833 |  |  | — |  |  | — |  |  | 17,007 |  |  | 2,243,056 |
Residential real estate |  | 1,866,295 |  |  | 5,466 |  |  | 450 |  |  | — |  |  | 10,744 |  |  | 1,882,955 |
Commercial and financial |  | 1,411,623 |  |  | 1,075 |  |  | 106 |  |  | — |  |  | 11,885 |  |  | 1,424,689 |
Consumer |  | 152,129 |  |  | 331 |  |  | 5 |  |  | — |  |  | 3,321 |  |  | 155,786 |
Total Portfolio Loans |  | $ | 7,395,446 |  |  | $ | 10,915 |  |  | $ | 561 |  |  | $ | — |  |  | $ | 45,250 |  |  | $ | 7,452,172 |
Acquired Non-PCD Loans |  |  |  |  |  |  |  |  |  |  |  |
Construction and land development |  | $ | 78,728 |  |  | $ | 8 |  |  | $ | 99 |  |  | $ | — |  |  | $ | 535 |  |  | $ | 79,370 |
Commercial real estate - owner occupied |  | 473,118 |  |  | 2,414 |  |  | — |  |  | — |  |  | 1,927 |  |  | 477,459 |
Commercial real estate - non-owner occupied |  | 1,151,541 |  |  | 148 |  |  | — |  |  | — |  |  | 5,160 |  |  | 1,156,849 |
Residential real estate |  | 706,566 |  |  | 1,064 |  |  | 131 |  |  | — |  |  | 11,828 |  |  | 719,589 |
Commercial and financial |  | 195,853 |  |  | — |  |  | — |  |  | 35 |  |  | 3,258 |  |  | 199,146 |
Consumer |  | 32,375 |  |  | 11 |  |  | 1 |  |  | — |  |  | 4,895 |  |  | 37,282 |
Total Acquired Non-PCD Loans |  | $ | 2,638,181 |  |  | $ | 3,645 |  |  | $ | 231 |  |  | $ | 35 |  |  | $ | 27,603 |  |  | $ | 2,669,695 |
PCD Loans |  |  |  |  |  |  |  |  |  |  |  |
Construction and land development |  | $ | 43 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 492 |  |  | $ | 535 |
Commercial real estate - owner occupied |  | 26,987 |  |  | — |  |  | — |  |  | — |  |  | 4,645 |  |  | 31,632 |
Commercial real estate - non-owner occupied |  | 96,188 |  |  | — |  |  | — |  |  | — |  |  | 7,715 |  |  | 103,903 |
Residential real estate |  | 12,752 |  |  | — |  |  | — |  |  | 167 |  |  | 1,322 |  |  | 14,241 |
Commercial and financial |  | 22,153 |  |  | — |  |  | — |  |  | — |  |  | 5,366 |  |  | 27,519 |
Consumer |  | 200 |  |  | — |  |  | — |  |  | — |  |  | 53 |  |  | 253 |
Total PCD Loans |  | $ | 158,323 |  |  | $ | — |  |  | $ | — |  |  | $ | 167 |  |  | $ | 19,593 |  |  | $ | 178,083 |
Total Loans |  | $ | 10,191,950 |  |  | $ | 14,560 |  |  | $ | 792 |  |  | $ | 202 |  |  | $ | 92,446 |  |  | $ | 10,299,950 |
All interest accrued but not received for loans placed on nonaccrual is reversed against interest income. Interest subsequently received on such loans is accounted for under the cost-recovery method, whereby interest income is not recognized until the loan balance is paid down to zero. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current, and future payments are reasonably assured. The Company recognized interest income of $0.7 million and $0.2 million on nonaccrual loans during the three months ended March 31, 2025 and March 31, 2024, respectively. The following tables present net balances of loans on nonaccrual status as of:
|  | March 31, 2025
(In thousands) |  | Nonaccrual Loans With No Related Allowance |  | Nonaccrual Loans With an Allowance |  | Total Nonaccrual Loans |  |
Construction and land development |  | $ | 492 |  |  | $ | 622 |  |  | $ | 1,114 |  |  |
Commercial real estate - owner occupied |  | — |  |  | 7,620 |  |  | 7,620 |  |  |
Commercial real estate - non-owner occupied |  | 21,426 |  |  | 931 |  |  | 22,357 |  |  |
Residential real estate |  | 5,570 |  |  | 12,467 |  |  | 18,037 |  |  |
Commercial and financial |  | 2,713 |  |  | 15,105 |  |  | 17,818 |  |  |
Consumer |  | — |  |  | 4,072 |  |  | 4,072 |  |  |
Totals |  | $ | 30,201 |  |  | $ | 40,817 |  |  | $ | 71,018 |  |  |
|  | December 31, 2024
(In thousands) |  | Nonaccrual Loans With No Related Allowance |  | Nonaccrual Loans With an Allowance |  | Total Nonaccrual Loans |  |
Construction and land development |  | $ | 492 |  |  | $ | 660 |  |  | $ | 1,152 |  |  |
Commercial real estate - owner occupied |  | 2,622 |  |  | 6,118 |  |  | 8,740 |  |  |
Commercial real estate - non-owner occupied |  | 29,449 |  |  | 433 |  |  | 29,882 |  |  |
Residential real estate |  | 6,462 |  |  | 17,432 |  |  | 23,894 |  |  |
Commercial and financial |  | 2,703 |  |  | 17,806 |  |  | 20,509 |  |  |
Consumer |  | 2,416 |  |  | 5,853 |  |  | 8,269 |  |  |
Totals |  | $ | 44,144 |  |  | $ | 48,302 |  |  | $ | 92,446 |  |  |
Loans by Risk Rating The Company utilizes an internal asset classification system as a means of identifying problem and potential problem loans. The following classifications are used to categorize loans under the internal classification system: •Pass: Loans that are not problem loans or potential problem loans are considered to be pass-rated. •Special Mention: Loans that do not currently expose the Company to sufficient risk to warrant classification in the Substandard or Doubtful categories, but possess weaknesses that deserve management’s close attention are deemed to be Special Mention. •Substandard: Loans with the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. •Doubtful: Loans that have all the weaknesses inherent in those classified Substandard with the added characteristic that the weakness present makes collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. The following tables present the risk rating of loans and year-to-date 1 gross charge offs by year of origination as of:
|  | March 31, 2025
(In thousands) |  | 2025 | 2024 | 2023 | 2022 | 2021 | Prior | Revolving | Total
Construction and Land Development |  |  |  |  |  |  |  |  |
Risk Ratings: |  |  |  |  |  |  |  |  |
Pass |  | $ | 7,367 |  | $ | 143,531 |  | $ | 165,481 |  | $ | 96,279 |  | $ | 39,060 |  | $ | 45,935 |  | $ | 112,792 |  | $ | 610,445 |
Special Mention |  | — |  | — |  | 6,212 |  | — |  | — |  | 658 |  | — |  | 6,870 |
Substandard |  | — |  | — |  | — |  | 154 |  | 87 |  | 937 |  | — |  | 1,178 |
Doubtful |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total |  | $ | 7,367 |  | $ | 143,531 |  | $ | 171,693 |  | $ | 96,433 |  | $ | 39,147 |  | $ | 47,530 |  | $ | 112,792 |  | $ | 618,493 |
Gross Charge Offs |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Commercial real estate - owner occupied |  |  |  |  |  |  |  |  |
Risk Ratings: |  |  |  |  |  |  |  |  |
Pass |  | $ | 51,751 |  | $ | 182,890 |  | $ | 142,750 |  | $ | 256,132 |  | $ | 250,906 |  | $ | 752,667 |  | $ | 17,004 |  | $ | 1,654,100 |
Special Mention |  | — |  | — |  | 12,696 |  | 82 |  | 751 |  | 19,030 |  | — |  | 32,559 |
Substandard |  | — |  | 87 |  | 1,055 |  | 5,727 |  | 374 |  | 19,276 |  | 401 |  | 26,920 |
Doubtful |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total |  | $ | 51,751 |  | $ | 182,977 |  | $ | 156,501 |  | $ | 261,941 |  | $ | 252,031 |  | $ | 790,973 |  | $ | 17,405 |  | $ | 1,713,579 |
Gross Charge Offs |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Commercial real estate - non-owner occupied |  |  |  |  |  |  |  |  |
Risk Ratings: |  |  |  |  |  |  |  |  |
Pass |  | $ | 63,479 |  | $ | 493,178 |  | $ | 212,315 |  | $ | 845,590 |  | $ | 563,482 |  | $ | 1,203,624 |  | $ | 20,077 |  | $ | 3,401,745 |
Special Mention |  | — |  | 26 |  | 2,957 |  | 616 |  | 7,234 |  | 18,214 |  | — |  | 29,047 |
Substandard |  | — |  | — |  | — |  | 29,546 |  | 17,847 |  | 35,004 |  | — |  | 82,397 |
Doubtful |  | — |  | — |  | — |  | — |  | 211 |  | — |  | — |  | 211 |
Total |  | $ | 63,479 |  | $ | 493,204 |  | $ | 215,272 |  | $ | 875,752 |  | $ | 588,774 |  | $ | 1,256,842 |  | $ | 20,077 |  | $ | 3,513,400 |
Gross Charge Offs |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 320 |  | $ | — |  | $ | 320 |
Residential real estate |  |  |  |  |  |  |  |  |
Risk Ratings: |  |  |  |  |  |  |  |  |
Pass |  | $ | 48,840 |  | $ | 178,525 |  | $ | 171,920 |  | $ | 492,408 |  | $ | 621,781 |  | $ | 584,241 |  | $ | 533,777 |  | $ | 2,631,492 |
Special Mention |  | — |  | — |  | 17 |  | — |  | 704 |  | 296 |  | 1,904 |  | 2,921 |
Substandard |  | — |  | 636 |  | 1,224 |  | 4,999 |  | 1,397 |  | 4,196 |  | 6,147 |  | 18,599 |
Doubtful |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total |  | $ | 48,840 |  | $ | 179,161 |  | $ | 173,161 |  | $ | 497,407 |  | $ | 623,882 |  | $ | 588,733 |  | $ | 541,828 |  | $ | 2,653,012 |
Gross Charge Offs |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 1 |  | $ | — |  | $ | 1 |
Commercial and financial |  |  |  |  |  |  |  |  |
Risk Ratings: |  |  |  |  |  |  |  |  |
Pass |  | $ | 161,208 |  | $ | 373,240 |  | $ | 160,168 |  | $ | 237,004 |  | $ | 213,537 |  | $ | 175,905 |  | $ | 385,449 |  | $ | 1,706,511 |
Special Mention |  | — |  | — |  | 797 |  | 952 |  | 7,257 |  | 1,867 |  | 4,268 |  | 15,141 |
Substandard |  | — |  | — |  | 108 |  | 7,272 |  | 8,231 |  | 11,552 |  | 3,377 |  | 30,540 |
Doubtful |  | — |  | — |  | — |  | — |  | — |  | — |  | 898 |  | 898 |
Total |  | $ | 161,208 |  | $ | 373,240 |  | $ | 161,073 |  | $ | 245,228 |  | $ | 229,025 |  | $ | 189,324 |  | $ | 393,992 |  | $ | 1,753,090 |
Gross Charge Offs |  | $ | — |  | $ | — |  | $ | — |  | $ | 153 |  | $ | 747 |  | $ | 5,187 |  | $ | 382 |  | $ | 6,469 |
Consumer |  |  |  |  |  |  |  |  |
Risk Ratings: |  |  |  |  |  |  |  |  |
Pass |  | $ | 3,798 |  | $ | 15,217 |  | $ | 12,444 |  | $ | 24,567 |  | $ | 18,705 |  | $ | 40,239 |  | $ | 72,330 |  | $ | 187,300 |
Special Mention |  | — |  |  | — |  | — |  | — |  | — |  | 48 |  | 48 |
Substandard |  | — |  | 25 |  | 13 |  | 3,423 |  | 5 |  | 613 |  | 20 |  | 4,099 |
Doubtful |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total |  | $ | 3,798 |  | $ | 15,242 |  | $ | 12,457 |  | $ | 27,990 |  | $ | 18,710 |  | $ | 40,852 |  | $ | 72,398 |  | $ | 191,447 |
Gross Charge Offs |  | $ | 165 |  | $ | 61 |  | $ | 7 |  | $ | 1,160 |  | $ | 43 |  | $ | 28 |  | $ | 23 |  | $ | 1,487 |
Consolidated |  |  |  |  |  |  |  |  |
Total |  | $ | 336,443 |  | $ | 1,387,355 |  | $ | 890,157 |  | $ | 2,004,751 |  | $ | 1,751,569 |  | $ | 2,914,254 |  | $ | 1,158,492 |  | $ | 10,443,021 |
Gross Charge Offs |  | $ | 165 |  | $ | 61 |  | $ | 7 |  | $ | 1,313 |  | $ | 790 |  | $ | 5,536 |  | $ | 405 |  | $ | 8,277 |
1 Represents gross charge-offs for the three months ending March 31, 2025.
|  | December 31, 2024
(In thousands) |  | 2024 | 2023 | 2022 | 2021 | 2020 | Prior | Revolving | Total
Construction and Land Development |  |  |  |  |  |  |  |  |
Risk Ratings: |  |  |  |  |  |  |  |  |
Pass |  | $ | 113,993 |  | $ | 160,801 |  | $ | 161,122 |  | $ | 39,276 |  | $ | 8,547 |  | $ | 36,342 |  | $ | 126,659 |  | $ | 646,740 |
Special Mention |  | — |  | — |  | — |  | — |  | — |  | 75 |  | — |  | 75 |
Substandard |  | — |  | — |  | 183 |  | 90 |  | — |  | 965 |  | — |  | 1,238 |
Doubtful |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total |  | $ | 113,993 |  | $ | 160,801 |  | $ | 161,305 |  | $ | 39,366 |  | $ | 8,547 |  | $ | 37,382 |  | $ | 126,659 |  | $ | 648,053 |
Gross Charge Offs |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 1 |  | $ | — |  | $ | 1 |
Commercial real estate - owner occupied |  |  |  |  |  |  |  |  |
Risk Ratings: |  |  |  |  |  |  |  |  |
Pass |  | $ | 184,312 |  | $ | 139,197 |  | $ | 260,266 |  | $ | 257,711 |  | $ | 153,702 |  | $ | 628,391 |  | $ | 20,674 |  | $ | 1,644,253 |
Special Mention |  | — |  | — |  | 4,975 |  | 2,344 |  | 2,418 |  | 7,965 |  | 1 |  | 17,703 |
Substandard |  | 89 |  | 1,061 |  | 2,821 |  | 377 |  | 5,870 |  | 14,106 |  | 349 |  | 24,673 |
Doubtful |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total |  | $ | 184,401 |  | $ | 140,258 |  | $ | 268,062 |  | $ | 260,432 |  | $ | 161,990 |  | $ | 650,462 |  | $ | 21,024 |  | $ | 1,686,629 |
Gross Charge Offs |  | $ | — |  | $ | — |  | $ | 179 |  | $ | — |  | $ | — |  | $ | 162 |  | $ | — |  | $ | 341 |
Commercial real estate - non-owner occupied |  |  |  |  |  |  |  |  |
Risk Ratings: |  |  |  |  |  |  |  |  |
Pass |  | $ | 495,361 |  | $ | 236,306 |  | $ | 820,739 |  | $ | 581,892 |  | $ | 237,777 |  | $ | 1,012,209 |  | $ | 24,752 |  | $ | 3,409,036 |
Special Mention |  | 27 |  | — |  | 4,773 |  | 1,269 |  | 5,265 |  | 25,245 |  | — |  | 36,579 |
Substandard |  | — |  | — |  | 10,462 |  | 10,684 |  | 16,437 |  | 20,610 |  | — |  | 58,193 |
Doubtful |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total |  | $ | 495,388 |  | $ | 236,306 |  | $ | 835,974 |  | $ | 593,845 |  | $ | 259,479 |  | $ | 1,058,064 |  | $ | 24,752 |  | $ | 3,503,808 |
Gross Charge Offs |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 89 |  | $ | 1,396 |  | $ | — |  | $ | 1,485 |
Residential real estate |  |  |  |  |  |  |  |  |
Risk Ratings: |  |  |  |  |  |  |  |  |
Pass |  | $ | 130,178 |  | $ | 173,606 |  | $ | 492,412 |  | $ | 631,313 |  | $ | 153,786 |  | $ | 490,156 |  | $ | 517,136 |  | $ | 2,588,587 |
Special Mention |  | — |  | 22 |  | — |  | — |  | — |  | 164 |  | 3,434 |  | 3,620 |
Substandard |  | 693 |  | 1,019 |  | 5,068 |  | 1,212 |  | 105 |  | 7,041 |  | 9,440 |  | 24,578 |
Doubtful |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total |  | $ | 130,871 |  | $ | 174,647 |  | $ | 497,480 |  | $ | 632,525 |  | $ | 153,891 |  | $ | 497,361 |  | $ | 530,010 |  | $ | 2,616,785 |
Gross Charge Offs |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 40 |  | $ | 62 |  | $ | 32 |  | $ | 134 |
Commercial and financial |  |  |  |  |  |  |  |  |
Risk Ratings: |  |  |  |  |  |  |  |  |
Pass |  | $ | 373,569 |  | $ | 180,423 |  | $ | 253,120 |  | $ | 232,427 |  | $ | 82,964 |  | $ | 117,276 |  | $ | 362,701 |  | $ | 1,602,480 |
Special Mention |  | — |  | 382 |  | 755 |  | 2,839 |  | 232 |  | 1,904 |  | 2,163 |  | 8,275 |
Substandard |  | — |  | 115 |  | 8,547 |  | 9,810 |  | 6,147 |  | 10,604 |  | 5,376 |  | 40,599 |
Doubtful |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total |  | $ | 373,569 |  | $ | 180,920 |  | $ | 262,422 |  | $ | 245,076 |  | $ | 89,343 |  | $ | 129,784 |  | $ | 370,240 |  | $ | 1,651,354 |
Gross Charge Offs |  | $ | — |  | $ | — |  | $ | 2,762 |  | $ | 10,669 |  | $ | — |  | $ | 3,111 |  | $ | 1,074 |  | $ | 17,616 |
Consumer |  |  |  |  |  |  |  |  |
Risk Ratings: |  |  |  |  |  |  |  |  |
Pass |  | $ | 14,627 |  | $ | 14,049 |  | $ | 26,332 |  | $ | 20,721 |  | $ | 11,682 |  | $ | 30,022 |  | $ | 67,562 |  | $ | 184,995 |
Special Mention |  | — |  | 5 |  | 1 |  | — |  | — |  | — |  | 54 |  | 60 |
Substandard |  | 75 |  | 25 |  | 4,953 |  | 40 |  | 2,435 |  | 737 |  | 1 |  | 8,266 |
Doubtful |  | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total |  | $ | 14,702 |  | $ | 14,079 |  | $ | 31,286 |  | $ | 20,761 |  | $ | 14,117 |  | $ | 30,759 |  | $ | 67,617 |  | $ | 193,321 |
Gross Charge Offs |  | $ | 789 |  | $ | 457 |  | $ | 5,471 |  | $ | 4,828 |  | $ | 255 |  | $ | 221 |  | $ | 267 |  | $ | 12,288 |
Consolidated |  |  |  |  |  |  |  |  |
Total |  | $ | 1,312,924 |  | $ | 907,011 |  | $ | 2,056,529 |  | $ | 1,792,005 |  | $ | 687,367 |  | $ | 2,403,812 |  | $ | 1,140,302 |  | $ | 10,299,950 |
Gross Charge Offs |  | $ | 789 |  | $ | 457 |  | $ | 8,412 |  | $ | 15,497 |  | $ | 384 |  | $ | 4,953 |  | $ | 1,373 |  | $ | 31,865 |
1 Represents gross charge-offs for the year ending December 31, 2024. Troubled Borrower Modifications The following tables present the amortized cost of TBM loans that were modified during the three months ended March 31, 2025 and March 31, 2024.
| March 31, 2025
(In thousands) | Rate Reduction or Rate Reduction with Term Extension |  | Term Extension and/or Payment Delay |  | Total 1 |  | % of Total Class of Loans
Construction and land development | $ | — |  |  | $ | — |  |  | $ | — |  |  | — | %
Commercial real estate - owner occupied | 94 |  |  | — |  |  | 94 |  |  | 0.01 |
Commercial real estate - non-owner occupied | — |  |  | — |  |  | — |  |  | — |
Residential real estate | — |  |  | 72 |  |  | 72 |  |  | — |
Commercial and financial | 73 |  |  | 1,367 |  |  | 1,440 |  |  | 0.08 |
Consumer | — |  |  | — |  |  | — |  |  | — |
Totals | $ | 167 |  |  | $ | 1,439 |  |  | $ | 1,606 |  |  | 0.02 | %
1 At March 31, 2025, the unfunded lending related commitments associated with TBM were immaterial.
|  | March 31, 2024
(In thousands) |  | Rate Reduction or Rate Reduction with Term Extension |  | Term Extension and/or Payment Delay |  | Total 1 |  | % of Total Class of Loans
Commercial real estate - owner occupied |  | $ | 3,324 |  |  | $ | — |  |  | $ | 3,324 |  |  | 0.20 | %
Commercial real estate - non-owner occupied |  | 810 |  |  | — |  |  | 810 |  |  | 0.02 |
Residential real estate |  | — |  |  | 31 |  |  | 31 |  |  | — |
Commercial and financial |  | 2,631 |  |  | 57 |  |  | 2,688 |  |  | 0.17 |
Consumer |  | — |  |  | 523 |  |  | 523 |  |  | 0.22 |
Totals |  | $ | 6,765 |  |  | $ | 611 |  |  | $ | 7,376 |  |  | 0.07 | %
1 At March 31, 2024, there were no unfunded lending related commitments associated with TBMs.
The following tables present the payment status of TBM loans that were modified in the twelve months prior to March 31, 2025 and in the twelve months prior to March 31, 2024.
|  | March 31, 2025
(In thousands) |  | Current |  | Accruing 30-59 Days Past Due |  | Accruing 60-89 Days Past Due |  | Accruing Greater Than 90 Days |  | Nonaccrual |  | Total
Construction and Land Development |  | $ | 111 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 111 |
Commercial real estate - owner occupied |  | 94 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 94 |
Residential real estate |  | 95 |  |  | — |  |  | — |  |  | — |  |  | 571 |  |  | 666 |
Commercial and financial |  | 1,262 |  |  | — |  |  | — |  |  | — |  |  | 636 |  |  | 1,898 |
Consumer |  | 28 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 28 |
Totals |  | $ | 1,590 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,207 |  |  | $ | 2,797 |
|  | March 31, 2024
(In thousands) |  | Current |  | Accruing 30-59 Days Past Due |  | Accruing 60-89 Days Past Due |  | Accruing Greater Than 90 Days |  | Nonaccrual |  | Total
Commercial real estate - owner occupied |  | $ | 522 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,802 |  |  | $ | 3,324 |
Commercial real estate - non-owner occupied |  | — |  |  | — |  |  | — |  |  | — |  |  | 810 |  |  | 810 |
Residential real estate |  | 31 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 31 |
Commercial and financial |  | 2,185 |  |  | — |  |  | — |  |  | — |  |  | 13,016 |  |  | 15,201 |
Consumer |  | 2,299 |  |  | 290 |  |  | 148 |  |  | 231 |  |  | 143 |  |  | 3,111 |
Totals |  | $ | 5,037 |  |  | $ | 290 |  |  | $ | 148 |  |  | $ | 231 |  |  | $ | 16,771 |  |  | $ | 22,477 |
There were no TBM loans modified in the prior 12 months with a payment default during the three months ended March 31, 2025 and three months ended March 31, 2024.

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