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Loans and Allowance for Loan Losses (Tables)
 3 Months Ended
Mar. 31, 2024
Receivables [Abstract]  
Loans by Portfolio Segment
Loans in the accompanying consolidated balance sheets are classified as follows (in thousands):    
March 31, 2024December 31, 2023
Real estate loans:  
Construction$599,464 $789,744 
1-4 family residential720,508 696,738 
Commercial2,413,345 2,168,451 
Commercial loans358,053 366,893 
Municipal loans427,225 441,168 
Loans to individuals58,773 61,516 
Total loans4,577,368 4,524,510 
Less: Allowance for loan losses43,557 42,674 
Net loans$4,533,811 $4,481,836 
Summary of loans by credit quality indicators and origination year
The following tables set forth the amortized cost basis by class of financing receivable and credit quality indicator for the periods presented (in thousands):
March 31, 2024Term Loans Amortized Cost Basis by Origination YearRevolving Loans Amortized Cost BasisTotal
20242023202220212020Prior
Construction real estate:
Pass$8,331 $138,169 $184,407 $64,103 $4,649 $9,006 $160,337 $569,002 
Pass watch— — 13,912 — 266 — — 14,178 
Special mention— — — 180 — 7 — 187 
Substandard— — 16,019 65 — — — 16,084 
Doubtful— — — — — 13 — 13 
Total construction real estate$8,331 $138,169 $214,338 $64,348 $4,915 $9,026 $160,337 $599,464 
Current period gross charge-offs$— $— $— $— $— $— $— $— 
1-4 family residential real estate:
Pass$7,326 $44,497 $148,117 $148,890 $112,986 $251,106 $1,545 $714,467 
Pass watch— — — — 30 — — 30 
Special mention— — — 512 74 — — 586 
Substandard— 169 — 71 1,282 3,282 73 4,877 
Doubtful— — — — 162 386 — 548 
Total 1-4 family residential real estate$7,326 $44,666 $148,117 $149,473 $114,534 $254,774 $1,618 $720,508 
Current period gross charge-offs$— $— $— $— $— $22 $— $22 
Commercial real estate:
Pass$57,374 $472,778 $690,253 $606,292 $173,900 $273,284 $16,515 $2,290,396 
Pass watch— — 34,418 — 1,022 472 — 35,912 
Special mention24,541 17,353 1,470 — — 34,443 — 77,807 
Substandard— — 853 95 261 6,358 — 7,567 
Doubtful— — — — — 1,663 — 1,663 
Total commercial real estate$81,915 $490,131 $726,994 $606,387 $175,183 $316,220 $16,515 $2,413,345 
Current period gross charge-offs$— $— $— $— $— $— $— $— 
Commercial loans:
Pass$18,574 $83,955 $56,619 $37,923 $9,421 $6,297 $139,370 $352,159 
Pass watch— — 99 101 — 204 — 404 
Special mention— 183 169 — 13 147 — 512 
Substandard53 — 3,434 312 — 43 579 4,421 
Doubtful— 41 206 253 — 57 — 557 
Total commercial loans$18,627 $84,179 $60,527 $38,589 $9,434 $6,748 $139,949 $358,053 
Current period gross charge-offs$— $65 $49 $37 $— $— $— $151 
Municipal loans:
Pass$2,032 $38,519 $59,855 $67,922 $48,107 $210,790 $— $427,225 
Pass watch— — — — — — — — 
Special mention— — — — — — — — 
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Total municipal loans$2,032 $38,519 $59,855 $67,922 $48,107 $210,790 $— $427,225 
Current period gross charge-offs$— $— $— $— $— $— $— $— 
Loans to individuals:
Pass$7,489 $18,441 $13,054 $9,886 $5,212 $2,557 $2,096 $58,735 
Pass watch— — — — — — — — 
Special mention— — — — — — — — 
Substandard— — — — — 10 — 10 
Doubtful— 15 2 — 1 10 — 28 
Total loans to individuals$7,489 $18,456 $13,056 $9,886 $5,213 $2,577 $2,096 $58,773 
Current period gross charge-offs (1)
$427 $1 $18 $2 $13 $— $— $461 
Total loans$125,720 $814,120 $1,222,887 $936,605 $357,386 $800,135 $320,515 $4,577,368 
Total current period gross charge-offs (1)
$427 $66 $67 $39 $13 $22 $— $634 
(1) Includes $306,000 in charged off demand deposit overdrafts reported as 2024 originations.
December 31, 2023Term Loans Amortized Cost Basis by Origination YearRevolving Loans Amortized Cost BasisTotal
20232022202120202019Prior
Construction real estate:
Pass$132,838 $236,573 $196,311 $37,997 $3,938 $6,457 $144,358 $758,472 
Pass watch— 7,798 — — — — — 7,798 
Special mention13,166 9,456 698 — 7 — — 23,327 
Substandard36 — 68 — — 43 — 147 
Doubtful— — — — — — — — 
Total construction real estate$146,040 $253,827 $197,077 $37,997 $3,945 $6,500 $144,358 $789,744 
Current period gross charge-offs$— $92 $— $— $— $— $— $92 
1-4 family residential real estate:
Pass$41,520 $126,981 $145,671 $114,631 $63,710 $196,651 $1,803 $690,967 
Pass watch— — — 32 — — — 32 
Special mention— — — 75 — — — 75 
Substandard325 — 73 1,379 — 3,259 74 5,110 
Doubtful— — — 163 — 391 — 554 
Total 1-4 family residential real estate$41,845 $126,981 $145,744 $116,280 $63,710 $200,301 $1,877 $696,738 
Current period gross charge-offs$— $— $— $— $1 $118 $— $119 
Commercial real estate:
Pass$469,844 $641,577 $495,363 $143,150 $91,085 $189,021 $16,493 $2,046,533 
Pass watch24,300 34,424 255 1,037 333 146 — 60,495 
Special mention17,403 — — — 9,746 25,072 — 52,221 
Substandard— 862 95 269 1,565 6,346 — 9,137 
Doubtful— — — — 65 — — 65 
Total commercial real estate$511,547 $676,863 $495,713 $144,456 $102,794 $220,585 $16,493 $2,168,451 
Current period gross charge-offs$— $— $— $— $788 $— $— $788 
Commercial loans:
Pass$78,090 $62,192 $42,114 $10,708 $4,356 $3,310 $161,153 $361,923 
Pass watch— 128 117 — — 18 — 263 
Special mention191 174 — 16 — 162 — 543 
Substandard14 2,357 73 — 65 12 821 3,342 
Doubtful238 267 133 — 64 120 — 822 
Total commercial loans$78,533 $65,118 $42,437 $10,724 $4,485 $3,622 $161,974 $366,893 
Current period gross charge-offs$745 $440 $44 $26 $23 $5 $— $1,283 
Municipal loans:
Pass$39,028 $61,429 $68,979 $49,746 $39,949 $182,037 $— $441,168 
Pass watch— — — — — — — — 
Special mention— — — — — — — — 
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Total municipal loans$39,028 $61,429 $68,979 $49,746 $39,949 $182,037 $— $441,168 
Current period gross charge-offs$— $— $— $— $— $— $— $— 
Loans to individuals:
Pass$22,788 $15,503 $11,588 $6,256 $2,180 $941 $2,216 $61,472 
Pass watch— — — — — — — — 
Special mention— — — — — — — — 
Substandard— — — — 13 — — 13 
Doubtful4 17 — 10 — — — 31 
Total loans to individuals$22,792 $15,520 $11,588 $6,266 $2,193 $941 $2,216 $61,516 
Current period gross charge-offs$1,682 $54 $61 $20 $6 $99 $— $1,922 
Total loans$839,785 $1,199,738 $961,538 $365,469 $217,076 $613,986 $326,918 $4,524,510 
Total current period gross charge-offs (1)
$2,427 $586 $105 $46 $818 $222 $— $4,204 
(1) Includes $1.7 million in charged off demand deposit overdrafts reported as 2023 originations.
Aging of past due loans by class of loan
The following tables present the aging of the amortized cost basis in past due loans by class of loans (in thousands):
 March 31, 2024
 
30-59 Days
Past Due
60-89 Days
Past Due
Greater than 90 Days Past Due
Total Past
Due
CurrentTotal
Real estate loans:     
Construction$20 $— $— $20 $599,444 $599,464 
1-4 family residential4,908 26 2,230 7,164 713,344 720,508 
Commercial1,250 1,781 346 3,377 2,409,968 2,413,345 
Commercial loans1,261 78 165 1,504 356,549 358,053 
Municipal loans— — — — 427,225 427,225 
Loans to individuals55 24 — 79 58,694 58,773 
Total$7,494 $1,909 $2,741 $12,144 $4,565,224 $4,577,368 
December 31, 2023
30-59 Days Past Due60-89 Days Past DueGreater than 90 Days
Past Due
Total Past
Due
CurrentTotal
Real estate loans:
Construction$474 $— $29 $503 $789,241 $789,744 
1-4 family residential4,638 774 1,700 7,112 689,626 696,738 
Commercial621 34 40 695 2,167,756 2,168,451 
Commercial loans1,693 347 127 2,167 364,726 366,893 
Municipal loans27 — — 27 441,141 441,168 
Loans to individuals107 1 10 118 61,398 61,516 
Total$7,560 $1,156 $1,906 $10,622 $4,513,888 $4,524,510 
Nonperforming assets by asset class
The following table sets forth the amortized cost basis of nonperforming assets for the periods presented (in thousands):
 March 31, 2024December 31, 2023
Nonaccrual loans:
Real estate loans:
Construction$40 $29 
1-4 family residential2,767 2,093 
Commercial2,423 528 
Commercial loans2,451 1,208 
Loans to individuals28 31 
Total nonaccrual loans (1)
7,709 3,889 
Accruing loans past due more than 90 days— — 
Restructured loans151 13 
OREO119 99 
Repossessed assets— — 
Total nonperforming assets$7,979 $4,001 

(1)    Includes $535,000 and $506,000 of restructured loans as of March 31, 2024 and December 31, 2023, respectively.
Allowance for loan losses activity by portfolio segment
The following tables detail activity in the allowance for loan losses by portfolio segment for the periods presented (in thousands):
 Three Months Ended March 31, 2024
 Real Estate    
 Construction
1-4 Family
Residential
Commercial
Commercial
Loans
Municipal
Loans
Loans to
Individuals
Total
Balance at beginning of period$5,287 $2,840 $32,266 $2,086 $19 $176 $42,674 
Loans charged-off— (22)— (151)— (461)(634)
Recoveries of loans charged-off— 11 3 56 — 277 347 
Net loans (charged-off) recovered— (11)3 (95)— (184)(287)
Provision for (reversal of) loan losses(367)(61)624 783 — 191 1,170 
Balance at end of period$4,920 $2,768 $32,893 $2,774 $19 $183 $43,557 

 Three Months Ended March 31, 2023
 Real Estate    
 Construction
1-4 Family
Residential
Commercial
Commercial
Loans
Municipal
Loans
Loans to
Individuals
Total
Balance at beginning of period$3,164 $2,173 $28,701 $2,235 $45 $197 $36,515 
Loans charged-off— (49)— (109)— (475)(633)
Recoveries of loans charged-off1 5 — 60 — 296 362 
Net loans (charged-off) recovered1 (44)— (49)— (179)(271)
Provision for (reversal of) loan losses (13)185 20 (285)(1)182 88 
Balance at end of period$3,152 $2,314 $28,721 $1,901 $44 $200 $36,332