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Loans (Tables)
 6 Months Ended
Jun. 30, 2024
Receivables [Abstract]  
Schedule of Loans
Loans consist of the following:
(Dollars in thousands)June 30, 2024December 31, 2023
Loans held for sale$18,291 $16,852 
LHFI:
Loans secured by real estate:
Commercial real estate(1)
$2,523,002 $2,442,734 
Construction/land/land development1,017,389 1,070,225 
Residential real estate1,819,229 1,734,935 
Total real estate5,359,620 5,247,894 
Commercial and industrial2,070,947 2,059,460 
Mortgage warehouse lines of credit506,505 329,966 
Consumer22,099 23,624 
Total LHFI(2)
7,959,171 7,660,944 
Less: Allowance for loan credit losses (“ALCL”)
100,865 96,868 
LHFI, net$7,858,306 $7,564,076 
____________________________
(1)Includes owner occupied commercial real estate of $959.9 million and $953.8 million at June 30, 2024, and December 31, 2023, respectively.
(2)Includes unamortized purchase accounting adjustment and net deferred loan fees of $10.5 million and $11.8 million at June 30, 2024, and December 31, 2023, respectively. As of June 30, 2024, and December 31, 2023, the remaining purchase accounting net loan discount was immaterial.
Schedule of Recorded Investment in Loans by Credit Quality Indicator
The following table reflects recorded investments in loans by credit quality indicator and origination year at June 30, 2024, and gross charge-offs for the six months ended June 30, 2024, excluding loans held for sale. Loans acquired are shown in the table by origination year, not merger date. The Company had an immaterial amount of revolving loans converted to term loans at June 30, 2024.
Term Loans
Amortized Cost Basis by Origination Year
(Dollars in thousands)20242023202220212020PriorRevolving Loans Amortized Cost BasisTotal
Commercial real estate:
Pass$104,889 $366,206 $951,664 $451,350 $233,831 $329,242 $65,883 $2,503,065 
Special mention41 — 6,938 — — — — 6,979 
Classified2,769 675 1,227 3,320 1,888 2,811 268 12,958 
Total commercial real estate loans$107,699 $366,881 $959,829 $454,670 $235,719 $332,053 $66,151 $2,523,002 
Year-to-date gross charge-offs$— $36 $193 $— $251 $— $— $480 
Construction/land/land development:
Pass$69,878 $306,961 $371,430 $163,857 $19,063 $7,033 $50,465 $988,687 
Special mention— 746 — — — — — 746 
Classified2,167 2,279 13,604 5,353 747 1,119 2,687 27,956 
Total construction/land/land development loans$72,045 $309,986 $385,034 $169,210 $19,810 $8,152 $53,152 $1,017,389 
Year-to-date gross charge-offs$— $— $— $— $— $— $— $— 
Residential real estate:
Pass$109,147 $312,282 $498,370 $321,225 $230,046 $207,743 $102,972 $1,781,785 
Special mention— — 3,679 19,481 132 — — 23,292 
Classified1,170 1,923 2,092 2,935 1,175 4,484 373 14,152 
Total residential real estate loans$110,317 $314,205 $504,141 $343,641 $231,353 $212,227 $103,345 $1,819,229 
Year-to-date gross charge-offs$— $— $— $— $— $— $— $— 
Commercial and industrial:
Pass$156,077 $324,517 $210,633 $130,707 $29,128 $62,268 $1,081,406 $1,994,736 
Special mention— 150 6,749 97 — — 6,206 13,202 
Classified4,809 5,157 8,844 9,309 720 701 33,469 63,009 
Total commercial and industrial loans$160,886 $329,824 $226,226 $140,113 $29,848 $62,969 $1,121,081 $2,070,947 
Year-to-date gross charge-offs$797 $654 $537 $156 $162 $252 $7,291 $9,849 
Mortgage Warehouse Lines of Credit:
Pass$— $— $— $— $— $— $506,505 $506,505 
Year-to-date gross charge-offs$— $— $— $— $— $— $— $— 
Consumer:
Pass$5,507 $6,452 $2,142 $631 $273 $206 $6,709 $21,920 
Classified— 37 134 3 — 5 — 179 
Total consumer loans$5,507 $6,489 $2,276 $634 $273 $211 $6,709 $22,099 
Year-to-date gross charge-offs$— $6 $11 $3 $— $— $40 $60 
The following table reflects recorded investments in loans by credit quality indicator and origination year at December 31, 2023, and gross charge-offs for the year ended December 31, 2023, excluding loans held for sale. Loans acquired are shown in the table by origination year, not merger date. The Company had an immaterial amount of revolving loans converted to term loans at December 31, 2023.
Term Loans
Amortized Cost Basis by Origination Year
(Dollars in thousands)20232022202120202019PriorRevolving Loans Amortized Cost BasisTotal
Commercial real estate:
Pass$333,887 $885,234 $470,252 $253,700 $204,421 $188,532 $77,993 $2,414,019 
Special mention— — 308 — — 7,950 — 8,258 
Classified726 4,285 3,212 1,765 524 9,945 — 20,457 
Total commercial real estate loans$334,613 $889,519 $473,772 $255,465 $204,945 $206,427 $77,993 $2,442,734 
Year-to-date gross charge-offs$— $— $— $— $— $42 $— $42 
Construction/land/land development:
Pass$259,502 $461,373 $214,526 $21,309 $7,221 $25,460 $42,700 $1,032,091 
Special mention746 10,462 19,811 — — — — 31,019 
Classified191 3,132 41 240 662 560 2,289 7,115 
Total construction/land/land development loans$260,439 $474,967 $234,378 $21,549 $7,883 $26,020 $44,989 $1,070,225 
Year-to-date gross charge-offs$— $— $— $— $— $— $— $— 
Residential real estate:
Pass$332,874 $549,504 $289,289 $237,813 $79,499 $142,265 $91,972 $1,723,216 
Special mention250 — — 141 — — — 391 
Classified689 1,985 1,439 407 1,367 4,949 492 11,328 
Total residential real estate loans$333,813 $551,489 $290,728 $238,361 $80,866 $147,214 $92,464 $1,734,935 
Year-to-date gross charge-offs$— $— $— $5 $— $22 $— $27 
Commercial and industrial:
Pass$399,485 $272,152 $160,636 $36,995 $57,562 $48,523 $1,035,021 $2,010,374 
Special mention498 6,383 — — — — 650 7,531 
Classified3,583 1,676 12,908 371 470 222 22,325 41,555 
Total commercial and industrial loans$403,566 $280,211 $173,544 $37,366 $58,032 $48,745 $1,057,996 $2,059,460 
Year-to-date gross charge-offs$203 $328 $233 $141 $539 $679 $9,710 $11,833 
Mortgage Warehouse Lines of Credit:
Pass$— $— $— $— $— $— $329,966 $329,966 
Year-to-date gross charge-offs$— $— $— $— $— $— $— $— 
Consumer:
Pass$11,053 $3,567 $1,040 $399 $470 $17 $6,988 $23,534 
Classified35 42 10 — 2 — 1 90 
Total consumer loans$11,088 $3,609 $1,050 $399 $472 $17 $6,989 $23,624 
Year-to-date gross charge-offs$3 $102 $7 $— $— $2 $33 $147 
Schedule of Loan Portfolio Aging Analysis
The following tables present the Company’s loan portfolio aging analysis at the dates indicated:
June 30, 2024
(Dollars in thousands)30-59 Days Past Due60-89 Days Past DueLoans Past Due 90 Days or MoreTotal Past DueCurrent LoansTotal Loans ReceivableAccruing Loans 90 or More Days Past Due
Loans secured by real estate:
Commercial real estate
$1,748 $268 $538 $2,554 $2,520,448 $2,523,002 $— 
Construction/land/land development
18,222 1,809 2,406 22,437 994,952 1,017,389 — 
Residential real estate1,656 4,334 3,580 9,570 1,809,659 1,819,229 — 
Total real estate21,626 6,411 6,524 34,561 5,325,059 5,359,620 — 
Commercial and industrial11,027 3,706 16,837 31,570 2,039,377 2,070,947 — 
Mortgage warehouse lines of credit
— — — — 506,505 506,505 — 
Consumer37 4 104 145 21,954 22,099 — 
Total LHFI$32,690 $10,121 $23,465 $66,276 $7,892,895 $7,959,171 $— 
December 31, 2023
(Dollars in thousands)30-59 Days Past Due60-89 Days Past DueLoans Past Due 90 Days or MoreTotal Past DueCurrent LoansTotal Loans ReceivableAccruing Loans 90 or More Days Past Due
Loans secured by real estate:
Commercial real estate$2,264 $— $— $2,264 $2,440,470 $2,442,734 $— 
Construction/land/land development
834 27 13 874 1,069,351 1,070,225 — 
Residential real estate8,055 1,326 5,960 15,341 1,719,594 1,734,935 — 
Total real estate11,153 1,353 5,973 18,479 5,229,415 5,247,894 — 
Commercial and industrial1,221 713 5,417 7,351 2,052,109 2,059,460 — 
Mortgage warehouse lines of credit— — — — 329,966 329,966 — 
Consumer200 10 3 213 23,411 23,624 — 
Total LHFI$12,574 $2,076 $11,393 $26,043 $7,634,901 $7,660,944 $— 
Schedule of Allowance for Loan Losses by Portfolio Segment
The following tables detail activity in the ALCL by portfolio segment. Accrued interest of $37.3 million and $29.5 million was not included in the book value for the purposes of calculating the allowance at June 30, 2024 and 2023, respectively. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.
Three Months Ended June 30, 2024
Commercial Real EstateConstruction/ Land/ Land DevelopmentResidential Real EstateCommercial and IndustrialMortgage Warehouse Lines of CreditConsumerTotal
(Dollars in thousands)
Beginning balance$17,544 $9,979 $10,634 $58,823 $661 $734 $98,375 
Charge-offs25 — — 3,668 — 13 3,706 
Recoveries267 — 4 484 — 5 760 
Provision(1)
(542)(705)1,142 5,545 15 (19)5,436 
Ending balance$17,244 $9,274 $11,780 $61,184 $676 $707 $100,865 
Average balance$2,497,490 $1,058,972 $1,787,829 $2,128,486 $430,885 $22,396 $7,926,058 
Net charge-offs to loan average balance (annualized)(0.04)%— %— %0.60 %— %0.14 %0.15 %
__________________________
(1)The $5.2 million provision for credit losses on the consolidated statements of income includes a $5.4 million provision for loan credit losses, a $238,000 net benefit provision for off-balance sheet commitments and a $32,000 provision for held to maturity securities credit losses for the three months ended June 30, 2024.

Three Months Ended June 30, 2023
Commercial Real EstateConstruction/ Land/ Land DevelopmentResidential Real EstateCommercial and IndustrialMortgage Warehouse Lines of CreditConsumerTotal
(Dollars in thousands)
Beginning balance$20,681 $8,065 $8,520 $53,357 $565 $820 $92,008 
Charge-offs— — 27 2,714 — 10 2,751 
Recoveries25 — 5 800 — 2 832 
Provision(1)
133 664 520 2,730 252 (35)4,264 
Ending balance$20,839 $8,729 $9,018 $54,173 $817 $777 $94,353 
Average balance$2,406,625 $972,032 $1,615,211 $2,059,285 $396,348 $24,812 $7,474,313 
Net charge-offs to loan average balance (annualized)— %— %0.01 %0.37 %— %0.13 %0.10 %
____________________________

(1)The $4.3 million provision for credit losses on the consolidated statements of income includes a $4.3 million provision for loan losses, an $88,000 provision for off-balance sheet commitments and a $46,000 provision for held to maturity securities credit losses for the three months ended June 30, 2023.
Six Months Ended June 30, 2024
Commercial Real EstateConstruction/ Land/ Land DevelopmentResidential Real EstateCommercial and IndustrialMortgage Warehouse Lines of CreditConsumerTotal
(Dollars in thousands)
Beginning balance$19,625 $9,990 $10,619 $55,330 $529 $775 $96,868 
Charge-offs480 — — 9,849 — 60 10,389 
Recoveries297 — 8 4,548 — 8 4,861 
Provision(1)
(2,198)(716)1,153 11,155 147 (16)9,525 
Ending balance$17,244 $9,274 $11,780 $61,184 $676 $707 $100,865 
Average balance$2,467,983 $1,094,664 $1,763,467 $2,124,994 $368,566 $22,857 $7,842,531 
Net charge-offs to loan average balance (annualized)0.01 %— %— %0.50 %— %0.46 %0.14 %
_________________________

(1)The $8.2 million provision for credit losses on the consolidated statement of income includes a $9.5 million provision for loan losses, a $1.3 million and $6,000 net benefit provision for off-balance sheet commitments and credit losses on held to maturity securities, respectively, for the six months ended June 30, 2024.
Six Months Ended June 30, 2023
Commercial Real EstateConstruction/ Land/ Land DevelopmentResidential Real EstateCommercial and IndustrialMortgage Warehouse Lines of CreditConsumerTotal
(Dollars in thousands)
Beginning balance$19,772 $7,776 $8,230 $50,148 $379 $856 $87,161 
Charge-offs42 — 27 4,883 — 92 5,044 
Recoveries85 — 10 1,712 — 7 1,814 
Provision(1)
1,024 953 805 7,196 438 6 10,422 
Ending balance$20,839 $8,729 $9,018 $54,173 $817 $777 $94,353 
Average balance$2,374,762 $973,465 $1,567,533 $2,064,791 $305,280 $25,411 $7,311,242 
Net charge-offs to loan average balance (annualized)— %— %— %0.31 %— %0.67 %0.09 %
_________________________

(1)The $10.5 million provision for credit losses on the consolidated statements of income includes a $10.4 million provision for loan losses, a $45,000 provision for off-balance sheet commitments and a $36,000 provision for held to maturity securities credit losses for the six months ended June 30, 2023.
Schedule of Amortized Cost Basis of Collateral Dependent Loans
The following table presents the amortized cost basis of collateral dependent loans, which are individually evaluated to determine expected credit losses, and the related ALCL allocated to these loans.
June 30, 2024
(Dollars in thousands)Commercial Real EstateConstruction/ Land/ Land DevelopmentResidential Real EstateCommercial and IndustrialMortgage Warehouse Lines of CreditConsumerTotal
Real Estate $143 $103 $10,363 $— $— $— $10,609 
ALCL Allocation$— $— $11 $— $— $— $11 
December 31, 2023
(Dollars in thousands)Commercial Real EstateConstruction/ Land/ Land DevelopmentResidential Real EstateCommercial and IndustrialMortgage Warehouse Lines of CreditConsumerTotal
Real Estate $605 $— $4,029 $— $— $— $4,634 
Equipment— — — 119 — — 119 
Other— — — 258 — — 258 
Total$605 $— $4,029 $377 $— $— $5,011 
ALCL Allocation$— $— $— $— $— $— $— 
Schedule of Non-performing (Nonaccrual) Loans Held for Investment
Nonaccrual LHFI was as follows:
Nonaccrual With No
Allowance for Credit Loss		Total Nonaccrual
(Dollars in thousands)
Loans secured by real estate:
June 30, 2024December 31, 2023June 30, 2024December 31, 2023
Commercial real estate$1,896 $746 $2,196 $786 
Construction/land/land development
11,176 96 26,336 305 
Residential real estate8,555 5,695 13,493 13,037 
Total real estate21,627 6,537 42,025 14,128 
Commercial and industrial
6,414 4,706 33,608 15,897 
Consumer— — 179 90 
Total nonaccrual loans$28,041 $11,243 $75,812 $30,115 
Schedule of Loans Classified as Troubled Debt Restructurings (TDRs)
The tables below summarize modifications made to borrowers experiencing financial difficulty by loan and modification type during the three months ended June 30, 2024 and 2023.
Amortized Cost Basis for the Three Months at June 30, 2024
Term ExtensionCombination:
Term Extension and Interest Rate Reduction
(Dollars in thousands)Amortized Cost% of LoansAmortized Cost% of Loans
Loans secured by real estate:
Commercial real estate$268 0.01 %$— — %
Construction/land/land development847 0.08 — — 
Residential real estate1,952 0.11 134 0.01 
Total real estate3,067 0.06 134 — 
Commercial and industrial13,507 0.65 — — 
Consumer— — 4 0.02 
Total$16,574 0.21 $138 — 
Amortized Cost Basis for the Three Months at June 30, 2023
Term ExtensionCombination:
Term Extension and Interest Rate Reduction
(Dollars in thousands)Amortized Cost% of LoansAmortized Cost% of Loans
Loans secured by real estate:
Commercial real estate$1,692 0.07 %$— — %
Construction/land/land development1,747 0.17 — — 
Residential real estate1,739 0.11 — — 
Total real estate5,178 0.10 — — 
Commercial and industrial2,208 0.11 186 0.01 
Total$7,386 0.10 $186 — 
The tables below summarize modifications made to borrowers experiencing financial difficulty by loan and modification type during the six months ended June 30, 2024 and 2023.
Amortized Cost Basis for the Six Months at June 30, 2024
Term ExtensionCombination:
Term Extension and Interest Rate Reduction		Other-Than-Insignificant Payment Delay
(Dollars in thousands)Amortized Cost% of LoansAmortized Cost% of LoansAmortized Cost% of Loans
Loans secured by real estate:
Commercial real estate$268 0.01 %$— — %$— — %
Construction/land/land development1,489 0.15 — — — — 
Residential real estate1,988 0.11 134 0.01 — — 
Total real estate3,745 0.07 134 — — — 
Commercial and industrial18,301 0.88 — — 35 — 
Consumer— — 4 0.02 — — 
Total$22,046 0.28 $138 — $35 — 
Six Months Ended June 30, 2023
Term ExtensionCombination:
Term Extension and Interest Rate Reduction
(Dollars in thousands)Amortized Cost% of LoansAmortized Cost% of Loans
Loans secured by real estate:
Commercial real estate$2,554 0.11 %$— — %
Construction/land/land development4,088 0.40 — — 
Residential real estate1,739 0.11 — — 
Total real estate8,381 0.16 — — 
Commercial and industrial11,179 0.57 186 0.01 
Total$19,560 0.26 $186 — 
The following tables describe the financial effects of the modifications made to borrowers experiencing financial difficulty during the three and six months ended June 30, 2024 and 2023.
Three Months Ended June 30, 2024
Interest Rate ReductionTerm Extension
Commercial real estateN/A
Added a weighted average 3.0 months to the life of the modified loans
Construction/land/land developmentN/A
Added a weighted average 2.3 months to the life of the modified loans
Residential real estate
Reduced weighted average contractual interest rate from 9.0% to 8.0%
Added a weighted average 3.2 months to the life of the modified loans
Commercial and industrialN/A
Added a weighted average 3.6 months to the life of the modified loans
Consumer
Reduced weighted average contractual interest rate from 9.5% to 6.0%
Added a weighted average 5.0 months to the life of the modified loans
Three Months Ended June 30, 2023
Interest Rate ReductionTerm Extension
Commercial real estateN/A
Added a weighted average 12.7 months to the life of the modified loans
Construction/land/land developmentN/A
Added a weighted average 2.8 months to the life of the modified loans
Residential real estateN/A
Added a weighted average 5.3 months to the life of the modified loans
Commercial and industrial
Reduced weighted average contractual interest rate from 9.0% to 6.0%
Added a weighted average 12.9 months to the life of the modified loans
Six Months Ended June 30, 2024
Interest Rate ReductionTerm ExtensionOther-Than-Insignificant Payment Delay
Commercial real estateN/A
Added a weighted average 3.0 months to the life of the modified loans
N/A
Construction/land/land developmentN/A
Added a weighted average 5.0 months to the life of the modified loans
N/A
Residential real estate
Reduced weighted average contractual interest rate from 9.0% to 8.0%
Added a weighted average 3.3 months to the life of the modified loans
N/A
Commercial and industrialN/A
Added a weighted average 4.9 months to the life of the modified loans
Delayed payment of weighted average 2.0 months
Consumer
Reduced weighted average contractual interest rate from 9.5% to 6.0%
Added a weighted average 5.0 months to the life of the modified loans
N/A
Six Months Ended June 30, 2023
Interest Rate ReductionTerm Extension
Commercial real estateN/A
Added a weighted average 11.9 months to the life of the modified loans
Construction/land/land developmentN/A
Added a weighted average 5.1 months to the life of the modified loans
Residential real estateN/A
Added a weighted average 5.3 months to the life of the modified loans
Commercial and industrial
Reduced weighted average contractual interest rate from 9.0% to 6.0%
Added a weighted average 5.6 months to the life of the modified loans
The following table depicts the performance of loans that have been modified during the last twelve months ended June 30, 2024.
Payment Status (Amortized Cost Basis)
June 30, 2024
(Dollars in thousands)Current30-89 Days Past Due90 Days or More Past Due
Loans secured by real estate:
Commercial real estate
$162 $695 $143 
Construction/land/land development
987 609 — 
Residential real estate880 1,867 — 
Total real estate2,029 3,171 143 
Commercial and industrial17,812 1,703 2,975 
Consumer4 — — 
Total LHFI$19,845 $4,874 $3,118 
The following table depicts the performance of loans that have been modified during the six months ended June 30, 2023.
Payment Status (Amortized Cost Basis)
June 30, 2023
(Dollars in thousands)Current30-89 Days Past Due90 Days or More Past Due
Loans secured by real estate:
Commercial real estate
$2,554 $— $— 
Construction/land/land development
4,088 — — 
Residential real estate1,739 — — 
Total real estate8,381 — — 
Commercial and industrial11,326 39 — 
Total LHFI$19,707 $39 $—