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Loans (Tables) | 12 Months Ended
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Dec. 31, 2024
Receivables [Abstract] |
Schedule of Loans | Loans consist of the following:
(Dollars in thousands) | December 31, 2024 |  | December 31, 2023 |  |
Loans held for sale | $ | 10,494 |  |  | $ | 16,852 |  |  |
LHFI: |  |  |  |  |
Loans secured by real estate: |  |  |  |  |
Commercial real estate(1) | $ | 2,477,431 |  |  | $ | 2,442,734 |  |  |
Construction/land/land development | 864,011 |  |  | 1,070,225 |  |  |
Residential real estate | 1,857,589 |  |  | 1,734,935 |  |  |
Total real estate | 5,199,031 |  |  | 5,247,894 |  |  |
Commercial and industrial | 2,002,634 |  |  | 2,059,460 |  |  |
Mortgage warehouse lines of credit | 349,081 |  |  | 329,966 |  |  |
Consumer | 22,967 |  |  | 23,624 |  |  |
Total LHFI(2) | 7,573,713 |  |  | 7,660,944 |  |  |
Less: Allowance for loan credit losses (“ALCL”) | 91,060 |  |  | 96,868 |  |  |
LHFI, net | $ | 7,482,653 |  |  | $ | 7,564,076 |  |  |
____________________________ (1)Includes owner occupied commercial real estate of $975.9 million and $953.8 million at December 31, 2024 and 2023, respectively. (2)Includes unamortized purchase accounting adjustment and net deferred loan fees of $9.8 million and $11.8 million at December 31, 2024 and 2023, respectively.
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 December 31, 2024, and gross charge-offs for the year ended December 31, 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 December 31, 2024.
| Term Loans |
| Amortized Cost Basis by Origination Year |
(Dollars in thousands) | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  | Revolving Loans Amortized Cost Basis |  |  |  | Total |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 229,213 |  |  | $ | 355,744 |  |  | $ | 918,847 |  |  | $ | 407,666 |  |  | $ | 220,040 |  |  | $ | 277,379 |  |  | $ | 54,391 |  |  |  |  | $ | 2,463,280 |  |
Special mention | 1,209 |  |  | — |  |  | — |  |  | 23 |  |  | 907 |  |  | 1,252 |  |  | 238 |  |  |  |  | 3,629 |  |
Classified | 949 |  |  | 1,151 |  |  | 1,155 |  |  | 2,503 |  |  | 1,539 |  |  | 2,968 |  |  | 257 |  |  |  |  | 10,522 |  |
Total commercial real estate loans | $ | 231,371 |  |  | $ | 356,895 |  |  | $ | 920,002 |  |  | $ | 410,192 |  |  | $ | 222,486 |  |  | $ | 281,599 |  |  | $ | 54,886 |  |  |  |  | $ | 2,477,431 |  |
Year-to-date gross charge-offs | $ | — |  |  | $ | 36 |  |  | $ | 193 |  |  | $ | — |  |  | $ | 251 |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | 480 |  |
Construction/land/land development: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 153,847 |  |  | $ | 206,970 |  |  | $ | 290,035 |  |  | $ | 123,645 |  |  | $ | 14,903 |  |  | $ | 3,343 |  |  | $ | 47,982 |  |  |  |  | $ | 840,725 |  |
Special mention | — |  |  | — |  |  | 547 |  |  | — |  |  | — |  |  | — |  |  | 145 |  |  |  |  | 692 |  |
Classified | 1,366 |  |  | 2,331 |  |  | 10,552 |  |  | 5,053 |  |  | 731 |  |  | 219 |  |  | 2,342 |  |  |  |  | 22,594 |  |
Total construction/land/land development loans | $ | 155,213 |  |  | $ | 209,301 |  |  | $ | 301,134 |  |  | $ | 128,698 |  |  | $ | 15,634 |  |  | $ | 3,562 |  |  | $ | 50,469 |  |  |  |  | $ | 864,011 |  |
Year-to-date gross charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | — |  |
Residential real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 147,379 |  |  | $ | 319,186 |  |  | $ | 522,226 |  |  | $ | 305,893 |  |  | $ | 215,305 |  |  | $ | 179,503 |  |  | $ | 112,471 |  |  |  |  | $ | 1,801,963 |  |
Special mention | — |  |  | — |  |  | — |  |  | 18,176 |  |  | 124 |  |  | 309 |  |  | — |  |  |  |  | 18,609 |  |
Classified | 1,962 |  |  | 8,068 |  |  | 17,898 |  |  | 3,123 |  |  | 748 |  |  | 4,854 |  |  | 364 |  |  |  |  | 37,017 |  |
Total residential real estate loans | $ | 149,341 |  |  | $ | 327,254 |  |  | $ | 540,124 |  |  | $ | 327,192 |  |  | $ | 216,177 |  |  | $ | 184,666 |  |  | $ | 112,835 |  |  |  |  | $ | 1,857,589 |  |
Year-to-date gross charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 11 |  |  | $ | — |  |  |  |  | $ | 11 |  |
Commercial and industrial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 280,152 |  |  | $ | 265,237 |  |  | $ | 171,157 |  |  | $ | 87,040 |  |  | $ | 20,938 |  |  | $ | 54,565 |  |  | $ | 1,066,600 |  |  |  |  | $ | 1,945,689 |  |
Special mention | — |  |  | 70 |  |  | 5,652 |  |  | 39 |  |  | — |  |  | 545 |  |  | 2,172 |  |  |  |  | 8,478 |  |
Classified | 4,312 |  |  | 6,706 |  |  | 13,578 |  |  | 1,022 |  |  | 691 |  |  | 375 |  |  | 21,783 |  |  |  |  | 48,467 |  |
Total commercial and industrial loans | $ | 284,464 |  |  | $ | 272,013 |  |  | $ | 190,387 |  |  | $ | 88,101 |  |  | $ | 21,629 |  |  | $ | 55,485 |  |  | $ | 1,090,555 |  |  |  |  | $ | 2,002,634 |  |
Year-to-date gross charge-offs | $ | 346 |  |  | $ | 1,171 |  |  | $ | 2,103 |  |  | $ | 4,477 |  |  | $ | 162 |  |  | $ | 595 |  |  | $ | 13,933 |  |  |  |  | $ | 22,787 |  |
Mortgage Warehouse Lines of Credit: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 349,081 |  |  |  |  | $ | 349,081 |  |
Year-to-date gross charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | — |  |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 10,060 |  |  | $ | 4,290 |  |  | $ | 1,277 |  |  | $ | 271 |  |  | $ | 210 |  |  | $ | 32 |  |  | $ | 6,645 |  |  |  |  | $ | 22,785 |  |
Classified | 23 |  |  | 64 |  |  | 79 |  |  | — |  |  | — |  |  | — |  |  | 16 |  |  |  |  | 182 |  |
Total consumer loans | $ | 10,083 |  |  | $ | 4,354 |  |  | $ | 1,356 |  |  | $ | 271 |  |  | $ | 210 |  |  | $ | 32 |  |  | $ | 6,661 |  |  |  |  | $ | 22,967 |  |
Year-to-date gross charge-offs | $ | — |  |  | $ | 19 |  |  | $ | 47 |  |  | $ | 3 |  |  | $ | — |  |  | $ | 5 |  |  | $ | 288 |  |  |  |  | $ | 362 |  |
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) | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  | Revolving Loans Amortized Cost Basis |  |  |  | Total |
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 |  |
Classified | 726 |  |  | 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 mention | 746 |  |  | 10,462 |  |  | 19,811 |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | 31,019 |  |
Classified | 191 |  |  | 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 mention | 250 |  |  | — |  |  | — |  |  | 141 |  |  | — |  |  | — |  |  | — |  |  |  |  | 391 |  |
Classified | 689 |  |  | 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 mention | 498 |  |  | 6,383 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 650 |  |  |  |  | 7,531 |  |
Classified | 3,583 |  |  | 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 |  |
Classified | 35 |  |  | 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:
| December 31, 2024 |
(Dollars in thousands) | 30-59 Days Past Due |  | 60-89 Days Past Due |  | Loans Past Due 90 Days or More |  | Total Past Due |  | Current Loans |  | Total Loans Receivable |  | Accruing Loans 90 or More Days Past Due |
Loans secured by real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate | $ | 3,576 |  |  | $ | 1,019 |  |  | $ | 957 |  |  | $ | 5,552 |  |  | $ | 2,471,879 |  |  | $ | 2,477,431 |  |  | $ | — |  |
Construction/land/land development | 441 |  |  | 33 |  |  | 4,876 |  |  | 5,350 |  |  | 858,661 |  |  | 864,011 |  |  | — |  |
Residential real estate | 12,655 |  |  | 5,219 |  |  | 5,723 |  |  | 23,597 |  |  | 1,833,992 |  |  | 1,857,589 |  |  | — |  |
Total real estate | 16,672 |  |  | 6,271 |  |  | 11,556 |  |  | 34,499 |  |  | 5,164,532 |  |  | 5,199,031 |  |  | — |  |
Commercial and industrial | 3,873 |  |  | 2,206 |  |  | 1,596 |  |  | 7,675 |  |  | 1,994,959 |  |  | 2,002,634 |  |  | — |  |
Mortgage warehouse lines of credit | — |  |  | — |  |  | — |  |  | — |  |  | 349,081 |  |  | 349,081 |  |  | — |  |
Consumer | 199 |  |  | 7 |  |  | 57 |  |  | 263 |  |  | 22,704 |  |  | 22,967 |  |  | — |  |
Total LHFI | $ | 20,744 |  |  | $ | 8,484 |  |  | $ | 13,209 |  |  | $ | 42,437 |  |  | $ | 7,531,276 |  |  | $ | 7,573,713 |  |  | $ | — |  |
| December 31, 2023
(Dollars in thousands) | 30-59 Days Past Due |  | 60-89 Days Past Due |  | Loans Past Due 90 Days or More |  | Total Past Due |  | Current Loans |  | Total Loans Receivable |  | Accruing 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 estate | 8,055 |  |  | 1,326 |  |  | 5,960 |  |  | 15,341 |  |  | 1,719,594 |  |  | 1,734,935 |  |  | — |
Total real estate | 11,153 |  |  | 1,353 |  |  | 5,973 |  |  | 18,479 |  |  | 5,229,415 |  |  | 5,247,894 |  |  | — |
Commercial and industrial | 1,221 |  |  | 713 |  |  | 5,417 |  |  | 7,351 |  |  | 2,052,109 |  |  | 2,059,460 |  |  | — |
Mortgage warehouse lines of credit | — |  |  | — |  |  | — |  |  | — |  |  | 329,966 |  |  | 329,966 |  |  | — |
Consumer | 200 |  |  | 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 $32.6 million and $35.1 million was not included in the book value for the purposes of calculating the allowance at December 31, 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.
| Year Ended December 31, 2024 |
| Commercial Real Estate |  | Construction/ Land/ Land Development |  | Residential Real Estate |  | Commercial and Industrial |  | Mortgage Warehouse Lines of Credit |  | Consumer |  | Total |  |
| (Dollars in thousands) |
Beginning balance | $ | 19,625 |  |  | $ | 9,990 |  |  | $ | 10,619 |  |  | $ | 55,330 |  |  | $ | 529 |  |  | $ | 775 |  |  | $ | 96,868 |  |  |
Charge-offs | 480 |  |  | — |  |  | 11 |  |  | 22,787 |  |  | — |  |  | 362 |  |  | 23,640 |  |  |
Recoveries | 530 |  |  | — |  |  | 16 |  |  | 8,583 |  |  | — |  |  | 23 |  |  | 9,152 |  |  |
Provision(1) | (3,129) |  |  | (2,592) |  |  | 1,830 |  |  | 12,323 |  |  | (28) |  |  | 276 |  |  | 8,680 |  |  |
Ending balance | $ | 16,546 |  |  | $ | 7,398 |  |  | $ | 12,454 |  |  | $ | 53,449 |  |  | $ | 501 |  |  | $ | 712 |  |  | $ | 91,060 |  |  |
Average balance | $ | 2,485,800 |  |  | $ | 1,035,871 |  |  | $ | 1,799,963 |  |  | $ | 2,087,361 |  |  | $ | 420,665 |  |  | $ | 22,962 |  |  | $ | 7,852,622 |  |  |
Net charge-offs to loan average balance | — | % |  | — | % |  | — | % |  | 0.68 | % |  | — | % |  | 1.48 | % |  | 0.18 | % |  |
_________________________ (1)The $7.4 million provision for credit losses on the consolidated statement of income includes a $8.7 million provision for loan losses, and a $1.2 million and $13,000 net benefit provision for off-balance sheet commitments and held to maturity securities credit losses, respectively, for the year ended December 31, 2024. |  |
| Year Ended December 31, 2023 |  |  |  |  |  |
| Commercial Real Estate |  |  |  | Construction/ Land/ Land Development |  | Residential Real Estate |  | Commercial and Industrial |  | Mortgage Warehouse Lines of Credit |  | Consumer |  |  |  |  |  |  | Total |  |  |  |  |  |
| (Dollars in thousands) |  |  |  |  |  |
Beginning balance | $ | 19,772 |  |  |  |  | $ | 7,776 |  |  | $ | 8,230 |  |  | $ | 50,148 |  |  | $ | 379 |  |  | $ | 856 |  |  |  |  |  |  |  | $ | 87,161 |  |  |  |  |  |  |
Charge-offs | 42 |  |  |  |  | — |  |  | 27 |  |  | 11,833 |  |  | — |  |  | 147 |  |  |  |  |  |  |  | 12,049 |  |  |  |  |  |  |
Recoveries | 140 |  |  |  |  | 3 |  |  | 17 |  |  | 4,068 |  |  | — |  |  | 14 |  |  |  |  |  |  |  | 4,242 |  |  |  |  |  |  |
Provision(1) | (245) |  |  |  |  | 2,211 |  |  | 2,399 |  |  | 12,947 |  |  | 150 |  |  | 52 |  |  |  |  |  |  |  | 17,514 |  |  |  |  |  |  |
Ending balance | $ | 19,625 |  |  |  |  | $ | 9,990 |  |  | $ | 10,619 |  |  | $ | 55,330 |  |  | $ | 529 |  |  | $ | 775 |  |  |  |  |  |  |  | $ | 96,868 |  |  |  |  |  |  |
Average balance | $ | 2,404,530 |  |  |  |  | $ | 1,015,178 |  |  | $ | 1,629,589 |  |  | $ | 2,054,081 |  |  | $ | 314,079 |  |  | $ | 24,627 |  |  |  |  |  |  |  | $ | 7,442,084 |  |  |  |  |  |  |
Net charge-offs to loan average balance | — | % |  |  |  | — | % |  | — | % |  | 0.38 | % |  | — | % |  | 0.54 | % |  |  |  |  |  |  | 0.10 | % |  |  |  |  |  |
____________________________ (1)The $16.8 million provision for credit losses on the consolidated statements of income includes a $17.5 million provision for loan credit losses, a $75,000 provision for off-balance sheet commitments and a $836,000 net benefit provision for held to maturity securities credit losses for the year ended December 31, 2023. |  |  |  |  |  |
| Year Ended December 31, 2022
| Commercial Real Estate |  |  |  | Construction/ Land/ Land Development |  | Residential Real Estate |  | Commercial and Industrial |  | Mortgage Warehouse Lines of Credit |  | Consumer |  |  |  |  |  |  | Total
| (Dollars in thousands)
Beginning Balance | $ | 13,425 |  |  |  |  | $ | 4,011 |  |  | $ | 6,116 |  |  | $ | 40,146 |  |  | $ | 340 |  |  | $ | 548 |  |  |  |  |  |  |  | $ | 64,586 |
Allowance for loan credit losses - BTH merger (1) | 1 |  |  |  |  | — |  |  | — |  |  | 5,525 |  |  | — |  |  | 1 |  |  |  |  |  |  |  | 5,527 |
Charge-offs | 166 |  |  |  |  | — |  |  | 91 |  |  | 8,459 |  |  | — |  |  | 43 |  |  |  |  |  |  |  | 8,759 |
Recoveries | 40 |  |  |  |  | 211 |  |  | 102 |  |  | 3,825 |  |  | — |  |  | 16 |  |  |  |  |  |  |  | 4,194 |
Provision(2) | 6,472 |  |  |  |  | 3,554 |  |  | 2,103 |  |  | 9,111 |  |  | 39 |  |  | 334 |  |  |  |  |  |  |  | 21,613 |
Ending Balance | $ | 19,772 |  |  |  |  | $ | 7,776 |  |  | $ | 8,230 |  |  | $ | 50,148 |  |  | $ | 379 |  |  | $ | 856 |  |  |  |  |  |  |  | $ | 87,161 |
Average Balance | $ | 1,951,246 |  |  |  |  | $ | 708,758 |  |  | $ | 1,143,190 |  |  | $ | 1,675,719 |  |  | $ | 420,639 |  |  | $ | 20,913 |  |  |  |  |  |  |  | $ | 5,920,465 |
Net Charge-offs to Loan Average Balance | 0.01 | % |  |  |  | (0.03) | % |  | — | % |  | 0.28 | % |  | — | % |  | 0.13 | % |  |  |  |  |  |  | 0.08 | %
_________________________ (1)Excluded from the allowance is $10.8 million in PCD loans that were acquired in the merger with BTH that were added to the allowance and immediately written off. (2)The $24.7 million provision for credit losses on the consolidated statement of income includes a $21.6 million provision for loan losses, a $2.3 million provision for off-balance sheet commitments and a $732,000 provision for held to maturity securities credit losses for the year ended December 31, 2022.
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.
| December 31, 2024
(Dollars in thousands) | Commercial Real Estate |  | Construction/ Land/ Land Development |  | Residential Real Estate |  | Commercial and Industrial |  | Mortgage Warehouse Lines of Credit |  | Consumer |  | Total
Real Estate | $ | 832 |  |  | $ | — |  |  | $ | 16,804 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 17,636 |
Equipment | — |  |  | — |  |  | — |  |  | 42 |  |  | — |  |  | 46 |  |  | 88 |
Total | $ | 832 |  |  | $ | — |  |  | $ | 16,804 |  |  | $ | 42 |  |  | $ | — |  |  | $ | 46 |  |  | $ | 17,724 |
ALCL Allocation | $ | — |  |  | $ | — |  |  | $ | 121 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 121 |
| December 31, 2023
(Dollars in thousands) | Commercial Real Estate |  | Construction/ Land/ Land Development |  | Residential Real Estate |  | Commercial and Industrial |  | Mortgage Warehouse Lines of Credit |  | Consumer |  | Total
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: | December 31, 2024 |  | December 31, 2023 |  | December 31, 2024 |  | December 31, 2023 |
Commercial real estate | $ | 832 |  |  | $ | 746 |  |  | $ | 4,974 |  |  | $ | 786 |  |
Construction/land/land development | — |  |  | 96 |  |  | 18,505 |  |  | 305 |  |
Residential real estate | 16,048 |  |  | 5,695 |  |  | 36,221 |  |  | 13,037 |  |
Total real estate | 16,880 |  |  | 6,537 |  |  | 59,700 |  |  | 14,128 |  |
Commercial and industrial | 42 |  |  | 4,706 |  |  | 15,120 |  |  | 15,897 |  |
Consumer | 46 |  |  | — |  |  | 182 |  |  | 90 |  |
Total nonaccrual loans | $ | 16,968 |  |  | $ | 11,243 |  |  | $ | 75,002 |  |  | $ | 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 years ended December 31, 2024 and 2023.
|  |  |  |  | Amortized Cost Basis at December 31, 2024 |
|  |  | Term Extension |  | Combination: Term Extension and Interest Rate Reduction |  | Other-Than-Insignificant Payment Delay |  |  |
(Dollars in thousands) |  |  |  |  | Amortized Cost |  | % of Loans |  | Amortized Cost |  | % of Loans |  | Amortized Cost |  | % of Loans |  |  |  |  |
Loans secured by real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  |  |  |  | $ | 2,552 |  |  | 0.10 | % |  | $ | — |  |  | — | % |  | $ | — |  |  | — | % |  |  |  |  |
Construction/land/land development |  |  |  |  | 340 |  |  | 0.04 |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |
Residential real estate |  |  |  |  | 644 |  |  | 0.03 |  |  | 128 |  |  | 0.01 |  |  | 449 |  |  | 0.02 |  |  |  |  |  |
Total real estate |  |  |  |  | 3,536 |  |  | 0.07 |  |  | 128 |  |  | — |  |  | 449 |  |  | 0.01 |  |  |  |  |  |
Commercial and industrial(1) |  |  |  |  | 17,671 |  |  | 0.88 |  |  | — |  |  | — |  |  | 34 |  |  | — |  |  |  |  |  |
Consumer |  |  |  |  | — |  |  | — |  |  | 3 |  |  | 0.01 |  |  | — |  |  | — |  |  |  |  |  |
Total |  |  |  |  | $ | 21,207 |  |  | 0.28 |  |  | $ | 131 |  |  | — |  |  | $ | 483 |  |  | 0.01 |  |  |  |  |  |
____________________________ (1)Does not include the loans impacted by the questioned activity as a result of not meeting the modification criteria as described in the Accounting Standards Codification 310-10-50-36, “Modifications”.
| Amortized Cost Basis at December 31, 2023 |
| Term Extension |  | Combination: Term Extension and Interest Rate Reduction |  |  |  |  |  | Other-Than-Insignificant Payment Delay |
(Dollars in thousands) | Amortized Cost |  | % of Loans |  | Amortized Cost |  | % of Loans |  |  |  |  |  |  |  |  |  | Amortized Cost |  | % of Loans |
Loans secured by real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate | $ | 7,845 |  |  | 0.32 | % |  | $ | — |  |  | — | % |  |  |  |  |  |  |  |  |  | $ | 428 |  |  | 0.02 | % |
Construction/land/land development | 3,979 |  |  | 0.37 |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  | — |  |  | — |  |
Residential real estate | 2,599 |  |  | 0.15 |  |  | 190 |  |  | 0.01 |  |  |  |  |  |  |  |  |  |  | 98 |  |  | 0.01 |  |
Total real estate | 14,423 |  |  | 0.27 |  |  | 190 |  |  | — |  |  |  |  |  |  |  |  |  |  | 526 |  |  | 0.01 |  |
Commercial and industrial | 21,093 |  |  | 1.02 |  |  | 1,072 |  |  | 0.05 |  |  |  |  |  |  |  |  |  |  | 53 |  |  | — |  |
Total | $ | 35,516 |  |  | 0.46 |  |  | $ | 1,262 |  |  | 0.02 |  |  |  |  |  |  |  |  |  |  | $ | 579 |  |  | 0.01 |  |
The following tables describe the financial effects of the modifications made to borrowers experiencing financial difficulty during the years ended December 31, 2024 and 2023.
| Year Ended December 31, 2024
| Interest Rate Reduction |  | Term Extension |  | Other-Than-Insignificant Payment Delay |  |
Commercial real estate | N/A |  | Added a weighted average 11.2 months to the life of the modified loans |  | N/A |  |
Construction/land/land development | N/A |  | Added a weighted average 7.5 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 10.4 months to the life of the modified loans |  | Delayed payment of weighted average 7 months |  |
Commercial and industrial(1) | N/A |  | Added a weighted average 7.6 months to the life of the modified loans |  | Delayed payment of weighted average 2 months |  |
Consumer | Reduced weighted average contractual interest rate from 9.5% to 6.0% |  | Added a weighted average 4.9 months to the life of the modified loans |  | N/A |  |
____________________________ (1)Does not include the loans impacted by the questioned activity as a result of not meeting the modification criteria as described in the Accounting Standards Codification 310-10-50-36, “Modifications”.
| Year Ended December 31, 2023
| Interest Rate Reduction |  | Term Extension |  | Other-Than-Insignificant Payment Delay
Commercial real estate | N/A |  | Added a weighted average 10.7 months to the life of the modified loans |  | Delayed payment of weighted average 6 months
Construction/land/land development | N/A |  | Added a weighted average 13.0 months to the life of the modified loans |  | N/A
Residential real estate | Reduced weighted average contractual interest rate from 8.8% to 6.0% |  | Added a weighted average 32.8 months to the life of the modified loans |  | Delayed payment of weighted average 2 months
Commercial and industrial | Reduced weighted average contractual interest rate from 9.9% to 8.9% |  | Added a weighted average 9.5 months to the life of the modified loans |  | Delayed payment of weighted average 6 months
The following table depicts the performance of loans that have been modified during the years ended December 31, 2024 and 2023.
| Payment Status (Amortized Cost Basis) |  |  |
| December 31, 2024 |
(Dollars in thousands) | Current |  | 30-89 Days Past Due |  | 90 Days or More Past Due |  |  |
Loans secured by real estate: |  |  |  |  |  |  |  |
Commercial real estate | $ | 2,552 |  |  | $ | — |  |  | $ | — |  |  |  |
Construction/land/land development | 340 |  |  | — |  |  | — |  |  |  |
Residential real estate | 1,086 |  |  | 100 |  |  | 35 |  |  |  |
Total real estate | 3,978 |  |  | 100 |  |  | 35 |  |  |  |
Commercial and industrial(1) | 16,193 |  |  | 1,511 |  |  | — |  |  |  |
Consumer | — |  |  | 3 |  |  | — |  |  |  |
Total LHFI | $ | 20,171 |  |  | $ | 1,614 |  |  | $ | 35 |  |  |  |
____________________________ (1)Does not include the loans impacted by the questioned activity as a result of not meeting the modification criteria as described in the Accounting Standards Codification 310-10-50-36, “Modifications”.
| Payment Status (Amortized Cost Basis) |  |  |
| December 31, 2023 |
(Dollars in thousands) | Current |  | 30-89 Days Past Due |  | 90 Days or More Past Due |  |  |
Loans secured by real estate: |  |  |  |  |  |  |  |
Commercial real estate | $ | 8,272 |  |  | $ | — |  |  | $ | — |  |  |  |
Construction/land/land development | 3,979 |  |  | — |  |  | — |  |  |  |
Residential real estate | 2,484 |  |  | 120 |  |  | 282 |  |  |  |
Total real estate | 14,735 |  |  | 120 |  |  | 282 |  |  |  |
Commercial and industrial | 22,219 |  |  | — |  |  | — |  |  |  |
Total LHFI | $ | 36,954 |  |  | $ | 120 |  |  | $ | 282 |  |  |  |
Schedule of Amortized Cost of Loans with Payment Default | The table below provides the details of loans to borrowers experiencing financial difficulty that were modified within the last twelve months and defaulted during the years ended December 31, 2024 and 2023.
|  |  | At or For The Year Ended December 31, 2024 |  |  |  |  |
|  |  | Term Extension |  |  |  |  |
(Dollars in thousands) |  |  | Amortized Cost |  | Default Amount |  |  |  |  |
Residential real estate |  |  | $ | 35 |  |  | $ | 35 |  |  |  |  |  |
Commercial and industrial(1) |  |  | 819 |  |  | 7,364 |  |  |  |  |  |
Total |  |  | $ | 854 |  |  | $ | 7,399 |  |  |  |  |  |
____________________________ (1)Does not include the loans impacted by the questioned activity as a result of not meeting the modification criteria as described in the Accounting Standards Codification 310-10-50-36, “Modifications”.
| At or For The Year Ended December 31, 2023
| Term Extension
(Dollars in thousands) | Amortized Cost |  | Default Amount
Residential real estate | $ | 282 |  |  | $ | 282 |
Commercial and industrial | — |  |  | 10 |
Total | $ | 282 |  |  | $ | 292 |

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