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Loan and Lease Receivables | 3 Months Ended
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Mar. 31, 2022
Receivables [Abstract] |
Loan and Lease Receivables | Note 4—Loan and Lease Receivables Outstanding loan and lease receivables as of the dates shown were categorized as follows:
|  | March 31, |  |  | December 31, |
|  | 2022 |  |  | 2021 |
Commercial real estate |  | $ | 1,776,483 |  |  | $ | 1,663,256 |
Residential real estate |  |  | 494,285 |  |  |  | 480,236 |
Construction, land development, and other land |  |  | 354,697 |  |  |  | 327,143 |
Commercial and industrial |  |  | 1,738,379 |  |  |  | 1,580,235 |
Paycheck Protection Program ("PPP") |  |  | 37,248 |  |  |  | 127,184 |
Installment and other |  |  | 1,312 |  |  |  | 1,322 |
Lease financing receivables |  |  | 380,313 |  |  |  | 354,135 |
Total loans and leases |  |  | 4,782,717 |  |  |  | 4,533,511 |
Net unamortized deferred fees and costs |  |  | 1,980 |  |  |  | (674 | )
Initial direct costs |  |  | 4,371 |  |  |  | 4,291 |
Allowance for loan and lease losses |  |  | (59,458 | ) |  |  | (55,012 | )
Net loans and leases |  | $ | 4,729,610 |  |  | $ | 4,482,116 |
|  | March 31, |  |  | December 31, |
|  | 2022 |  |  | 2021 |
Lease financing receivables |  |  |  |  |  |
Net minimum lease payments |  | $ | 375,581 |  |  | $ | 352,948 |
Unguaranteed residual values |  |  | 32,930 |  |  |  | 27,953 |
Unearned income |  |  | (28,198 | ) |  |  | (26,766 | )
Total lease financing receivables |  |  | 380,313 |  |  |  | 354,135 |
Initial direct costs |  |  | 4,371 |  |  |  | 4,291 |
Lease financing receivables before allowance for lease losses |  | $ | 384,684 |  |  | $ | 358,426 |
Total loans and leases consist of originated loans and leases, acquired impaired loans and acquired non-impaired loans and leases. At March 31, 2022 and December 31, 2021, total loans and leases included the guaranteed amount of U.S. government guaranteed loans of $156.8 million and $231.2 million, respectively. At March 31, 2022 and December 31, 2021, the discount on the unguaranteed portion of U.S. government guaranteed loans was $27.9 million and $28.3 million, respectively, which are included in total loans and leases. At March 31, 2022 and December 31, 2021, installment and other loans included overdraft deposits of $371,000 and $445,000, respectively, which were reclassified as loans. At March 31, 2022 and December 31, 2021, loans and leases and loans held for sale pledged as security for borrowings were $2.2 billion and $1.9 billion, respectively. The minimum annual lease payments for lease financing receivables as of March 31, 2022 are summarized as follows:
|  | Minimum Lease Payments |
2022 |  | $ | 88,081 |
2023 |  |  | 110,682 |
2024 |  |  | 84,204 |
2025 |  |  | 58,757 |
2026 |  |  | 29,364 |
Thereafter |  |  | 4,493 |
Total |  | $ | 375,581 |
Originated loans and leases represent originations excluding loans initially acquired in a business combination. However, once an acquired non-impaired loan reaches its maturity date, and is re-underwritten and renewed, it is internally classified as an originated loan. Acquired impaired loans are loans acquired from a business combination with evidence of credit quality deterioration and are accounted for under ASC Topic 310-30. Acquired non-impaired loans and leases represent loans and leases acquired from a business combination without more than insignificant evidence of credit quality deterioration and are accounted for under ASC Topic 310-20. Acquired leases and revolving loans having evidence of credit quality deterioration do not qualify to be accounted for as acquired impaired loans and are accounted for under ASC Topic 310-20. The following tables summarize the balances for each respective loan and lease category as of March 31, 2022 and December 31, 2021:
March 31, 2022 |  | Originated |  |  | Acquired Impaired |  |  | Acquired Non-Impaired |  |  | Total |
Commercial real estate |  | $ | 1,527,920 |  |  | $ | 67,092 |  |  | $ | 184,353 |  |  | $ | 1,779,365 |
Residential real estate |  |  | 399,638 |  |  |  | 47,347 |  |  |  | 47,735 |  |  |  | 494,720 |
Construction, land development, and other land |  |  | 351,519 |  |  |  | 1,357 |  |  |  | 196 |  |  |  | 353,072 |
Commercial and industrial |  |  | 1,698,025 |  |  |  | 3,792 |  |  |  | 37,794 |  |  |  | 1,739,611 |
Paycheck Protection Program |  |  | 36,260 |  |  |  | — |  |  |  | — |  |  |  | 36,260 |
Installment and other |  |  | 945 |  |  |  | 163 |  |  |  | 248 |  |  |  | 1,356 |
Lease financing receivables |  |  | 379,527 |  |  |  | — |  |  |  | 5,157 |  |  |  | 384,684 |
Total loans and leases |  | $ | 4,393,834 |  |  | $ | 119,751 |  |  | $ | 275,483 |  |  | $ | 4,789,068 |
December 31, 2021 |  | Originated |  |  | Acquired Impaired |  |  | Acquired Non-Impaired |  |  | Total |
Commercial real estate |  | $ | 1,379,000 |  |  | $ | 72,160 |  |  | $ | 214,588 |  |  | $ | 1,665,748 |
Residential real estate |  |  | 379,796 |  |  |  | 49,401 |  |  |  | 51,317 |  |  |  | 480,514 |
Construction, land development, and other land |  |  | 323,886 |  |  |  | 1,312 |  |  |  | 201 |  |  |  | 325,399 |
Commercial and industrial |  |  | 1,534,745 |  |  |  | 4,014 |  |  |  | 43,202 |  |  |  | 1,581,961 |
Paycheck Protection Program |  |  | 123,712 |  |  |  | — |  |  |  | — |  |  |  | 123,712 |
Installment and other |  |  | 940 |  |  |  | 164 |  |  |  | 264 |  |  |  | 1,368 |
Lease financing receivables |  |  | 352,247 |  |  |  | — |  |  |  | 6,179 |  |  |  | 358,426 |
Total loans and leases |  | $ | 4,094,326 |  |  | $ | 127,051 |  |  | $ | 315,751 |  |  | $ | 4,537,128 |
Acquired impaired loans—The unpaid principal balance and carrying amount of all acquired impaired loans are summarized below. The balances do not include an allowance for loan and lease losses of $3.0 million and $3.2 million, at March 31, 2022 and December 31, 2021, respectively.
|  | March 31, 2022 |  |  | December 31, 2021 |
|  | Unpaid Principal Balance |  |  | Carrying Value |  |  | Unpaid Principal Balance |  |  | Carrying Value |
Commercial real estate |  | $ | 107,665 |  |  | $ | 67,092 |  |  | $ | 113,257 |  |  | $ | 72,160 |
Residential real estate |  |  | 92,534 |  |  |  | 47,347 |  |  |  | 95,056 |  |  |  | 49,401 |
Construction, land development, and other land |  |  | 8,287 |  |  |  | 1,357 |  |  |  | 8,571 |  |  |  | 1,312 |
Commercial and industrial |  |  | 5,786 |  |  |  | 3,792 |  |  |  | 10,201 |  |  |  | 4,014 |
Installment and other |  |  | 851 |  |  |  | 163 |  |  |  | 858 |  |  |  | 164 |
Total acquired impaired loans |  | $ | 215,123 |  |  | $ | 119,751 |  |  | $ | 227,943 |  |  | $ | 127,051 |
The following table summarizes the changes in accretable yield for acquired impaired loans for the three months ended March 31, 2022 and 2021:
|  | Three Months Ended |
|  | March 31, |
|  | 2022 |  |  | 2021 |
Beginning balance |  | $ | 18,595 |  |  | $ | 27,696 |
Accretion to interest income |  |  | (2,313 | ) |  |  | (3,707 | )
Reclassification from nonaccretable difference, net |  |  | 319 |  |  |  | 1,273 |
Ending balance |  | $ | 16,601 |  |  | $ | 25,262 |
Acquired non-impaired loans and leases— The unpaid principal balance and carrying value for acquired non-impaired loans and leases at March 31, 2022 and December 31, 2021 were as follows:
|  | March 31, 2022 |  |  | December 31, 2021 |
|  | Unpaid Principal Balance |  |  | Carrying Value |  |  | Unpaid Principal Balance |  |  | Carrying Value |
Commercial real estate |  | $ | 188,627 |  |  | $ | 184,353 |  |  | $ | 219,277 |  |  | $ | 214,588 |
Residential real estate |  |  | 48,211 |  |  |  | 47,735 |  |  |  | 51,839 |  |  |  | 51,317 |
Construction, land development, and other land |  |  | 260 |  |  |  | 196 |  |  |  | 265 |  |  |  | 201 |
Commercial and industrial |  |  | 39,314 |  |  |  | 37,794 |  |  |  | 44,827 |  |  |  | 43,202 |
Installment and other |  |  | 257 |  |  |  | 248 |  |  |  | 273 |  |  |  | 264 |
Lease financing receivables |  |  | 5,172 |  |  |  | 5,157 |  |  |  | 6,199 |  |  |  | 6,179 |
Total acquired non-impaired loans and leases |  | $ | 281,841 |  |  | $ | 275,483 |  |  | $ | 322,680 |  |  | $ | 315,751 |

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 + Details
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