| LOANS AND ALLOWANCE FOR LOAN AND LEASE LOSSES |
4. LOANS AND ALLOWANCE FOR LOAN AND LEASE LOSSES
The following tables exclude LHFS. The Company’s LHFI are stated at their face amount, net of deferred fees and costs and includes loan balances as of September 30, 2024, acquired through the American National acquisition that closed on April 1, 2024, and consisted of the following as of the periods ended (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
September 30, 2024 |
|
December 31, 2023 |
Construction and Land Development |
|
|
$ |
1,588,531 |
|
$ |
1,107,850 |
CRE – Owner Occupied |
|
|
|
2,401,807 |
|
|
1,998,787 |
CRE – Non-Owner Occupied |
|
|
|
4,885,785 |
|
|
4,172,401 |
Multifamily Real Estate |
|
|
|
1,357,730 |
|
|
1,061,997 |
Commercial & Industrial |
|
|
|
3,799,872 |
|
|
3,589,347 |
Residential 1-4 Family – Commercial |
|
|
|
729,315 |
|
|
522,580 |
Residential 1-4 Family – Consumer |
|
|
|
1,281,914 |
|
|
1,078,173 |
Residential 1-4 Family – Revolving |
|
|
|
738,665 |
|
|
619,433 |
Auto |
|
|
|
354,570 |
|
|
486,926 |
Consumer |
|
|
|
109,522 |
|
|
120,641 |
Other Commercial |
|
|
|
1,089,588 |
|
|
876,908 |
Total LHFI, net of deferred fees and costs(1) |
|
|
|
18,337,299 |
|
|
15,635,043 |
Allowance for loan and lease losses |
|
|
|
(160,685) |
|
|
(132,182) |
Total LHFI, net |
|
|
$ |
18,176,614 |
|
$ |
15,502,861 |
(1) Total loans included unamortized premiums and discounts, and unamortized deferred fees and costs totaling $228.3 million and $79.7 million as of September 30, 2024 and December 31, 2023, respectively.
Refer to Note 1 “Summary of Significant Accounting Policies” and Note 2 “Acquisitions” within Item 1 of this Quarterly Report for further information about the American National acquisition.
Accrued interest receivable on LHFI totaled $75.2 million and $72.5 million at September 30, 2024 and December 31, 2023, respectively. Accrued interest receivable write-offs were not material to the Company’s consolidated financial statements for the three and nine months ended September 30, 2024 and 2023.
The following table shows the aging of the Company’s LHFI portfolio by class at September 30, 2024 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Greater than |
|
|
|
|
|
|
|
|
|
|
|
|
30-59 Days |
|
60-89 Days |
|
90 Days and |
|
|
|
|
|
|
|
|
|
Current |
|
Past Due |
|
Past Due |
|
still Accruing |
|
Nonaccrual |
|
Total Loans |
|
Construction and Land Development |
|
$ |
1,584,576 |
|
$ |
1,559 |
|
$ |
369 |
|
$ |
82 |
|
$ |
1,945 |
|
$ |
1,588,531 |
|
CRE – Owner Occupied |
|
|
2,392,190 |
|
|
2,291 |
|
|
1,306 |
|
|
1,239 |
|
|
4,781 |
|
|
2,401,807 |
|
CRE – Non-Owner Occupied |
|
|
4,866,516 |
|
|
1,085 |
|
|
6,875 |
|
|
1,390 |
|
|
9,919 |
|
|
4,885,785 |
|
Multifamily Real Estate |
|
|
1,356,721 |
|
|
821 |
|
|
135 |
|
|
53 |
|
|
— |
|
|
1,357,730 |
|
Commercial & Industrial |
|
|
3,789,537 |
|
|
5,876 |
|
|
549 |
|
|
862 |
|
|
3,048 |
|
|
3,799,872 |
|
Residential 1-4 Family – Commercial |
|
|
725,395 |
|
|
656 |
|
|
736 |
|
|
801 |
|
|
1,727 |
|
|
729,315 |
|
Residential 1-4 Family – Consumer |
|
|
1,260,678 |
|
|
471 |
|
|
6,950 |
|
|
1,890 |
|
|
11,925 |
|
|
1,281,914 |
|
Residential 1-4 Family – Revolving |
|
|
728,538 |
|
|
3,309 |
|
|
2,672 |
|
|
1,186 |
|
|
2,960 |
|
|
738,665 |
|
Auto |
|
|
350,373 |
|
|
2,796 |
|
|
468 |
|
|
401 |
|
|
532 |
|
|
354,570 |
|
Consumer |
|
|
108,487 |
|
|
700 |
|
|
182 |
|
|
143 |
|
|
10 |
|
|
109,522 |
|
Other Commercial |
|
|
1,082,274 |
|
|
2 |
|
|
185 |
|
|
7,127 |
|
|
— |
|
|
1,089,588 |
|
Total LHFI, net of deferred fees and costs |
|
$ |
18,245,285 |
|
$ |
19,566 |
|
$ |
20,427 |
|
$ |
15,174 |
|
$ |
36,847 |
|
$ |
18,337,299 |
|
% of total loans |
|
|
99.50 |
% |
|
0.11 |
% |
|
0.11 |
% |
|
0.08 |
% |
|
0.20 |
% |
|
100.00 |
% |
The following table shows the aging of the Company’s LHFI portfolio by class at December 31, 2023 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Greater than |
|
|
|
|
|
|
|
|
|
|
|
|
30-59 Days |
|
60-89 Days |
|
90 Days and |
|
|
|
|
|
|
|
|
|
Current |
|
Past Due |
|
Past Due |
|
still Accruing |
|
Nonaccrual |
|
Total Loans |
|
Construction and Land Development |
|
$ |
1,107,183 |
|
$ |
270 |
|
$ |
24 |
|
$ |
25 |
|
$ |
348 |
|
$ |
1,107,850 |
|
CRE – Owner Occupied |
|
|
1,991,632 |
|
|
1,575 |
|
|
— |
|
|
2,579 |
|
|
3,001 |
|
|
1,998,787 |
|
CRE – Non-Owner Occupied |
|
|
4,156,089 |
|
|
545 |
|
|
184 |
|
|
2,967 |
|
|
12,616 |
|
|
4,172,401 |
|
Multifamily Real Estate |
|
|
1,061,851 |
|
|
— |
|
|
146 |
|
|
— |
|
|
— |
|
|
1,061,997 |
|
Commercial & Industrial |
|
|
3,579,657 |
|
|
4,303 |
|
|
49 |
|
|
782 |
|
|
4,556 |
|
|
3,589,347 |
|
Residential 1-4 Family – Commercial |
|
|
518,150 |
|
|
567 |
|
|
676 |
|
|
1,383 |
|
|
1,804 |
|
|
522,580 |
|
Residential 1-4 Family – Consumer |
|
|
1,053,255 |
|
|
7,546 |
|
|
1,804 |
|
|
4,470 |
|
|
11,098 |
|
|
1,078,173 |
|
Residential 1-4 Family – Revolving |
|
|
611,584 |
|
|
2,238 |
|
|
1,429 |
|
|
1,095 |
|
|
3,087 |
|
|
619,433 |
|
Auto |
|
|
480,557 |
|
|
4,737 |
|
|
872 |
|
|
410 |
|
|
350 |
|
|
486,926 |
|
Consumer |
|
|
119,487 |
|
|
770 |
|
|
232 |
|
|
152 |
|
|
— |
|
|
120,641 |
|
Other Commercial |
|
|
870,339 |
|
|
6,569 |
|
|
— |
|
|
— |
|
|
— |
|
|
876,908 |
|
Total LHFI, net of deferred fees and costs |
|
$ |
15,549,784 |
|
$ |
29,120 |
|
$ |
5,416 |
|
$ |
13,863 |
|
$ |
36,860 |
|
$ |
15,635,043 |
|
% of total loans |
|
|
99.45 |
% |
|
0.19 |
% |
|
0.03 |
% |
|
0.09 |
% |
|
0.24 |
% |
|
100.00 |
% |
The following table shows the Company’s amortized cost basis of loans on nonaccrual status with no related ALLL as of the periods ended (dollars in thousands):
|
|
|
|
|
|
|
|
|
September 30, |
|
December 31, |
|
|
2024 |
|
2023 |
CRE – Owner Occupied |
|
$ |
2,050 |
|
$ |
— |
CRE – Non-Owner Occupied |
|
|
8,156 |
|
|
4,835 |
Total LHFI |
|
$ |
10,206 |
|
$ |
4,835 |
There was no interest income recognized on nonaccrual loans during the three and nine months ended September 30, 2024 and 2023. See Note 1 “Summary of Significant Accounting Policies” in the “Notes to the Consolidated Financial Statements” contained in Item 8 “Financial Statements and Supplementary Data” in the Company’s 2023 Form 10-K for additional information on the Company’s policies for nonaccrual loans.
Troubled Loan Modifications
See Note 1 “Summary of Significant Accounting Policies” in the “Notes to Consolidated Financial Statements” contained in Item 8 “Financial Statements and Supplementary Data” of the Company’s 2023 Form 10-K for loan modifications to borrowers experiencing financial difficulty and how the Company defines TLMs.
As of September 30, 2024 and 2023, the Company had TLMs with an amortized cost basis of $24.5 million and $29.4 million, respectively.
The following table presents the amortized cost basis of TLMs for the three and nine months ended September 30, (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
Nine Months Ended |
|
|
|
2024 |
|
|
2024 |
|
|
|
Amortized Cost |
|
% of Total Class of Financing Receivable |
|
|
Amortized Cost |
|
% of Total Class of Financing Receivable |
|
Combination - Other-Than-Insignificant Payment Delay and Term Extension |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and Industrial |
|
$ |
— |
|
— |
% |
|
$ |
553 |
|
0.01 |
% |
CRE – Non-Owner Occupied |
|
|
— |
|
— |
% |
|
|
22,175 |
|
0.45 |
% |
Total Combination - Other-Than-Insignificant Payment Delay and Term Extension |
|
$ |
— |
|
|
|
|
$ |
22,728 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Term Extension |
|
|
|
|
|
|
|
|
|
|
|
|
Construction and Land Development |
|
$ |
50 |
|
NM |
% |
|
$ |
50 |
|
NM |
% |
Commercial and Industrial |
|
|
141 |
|
NM |
% |
|
|
141 |
|
NM |
% |
CRE – Owner Occupied |
|
|
586 |
|
0.02 |
% |
|
|
586 |
|
0.02 |
% |
Residential 1-4 Family – Consumer |
|
|
236 |
|
0.02 |
% |
|
|
236 |
|
0.02 |
% |
Total Term Extension |
|
$ |
1,013 |
|
|
|
|
$ |
1,013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Combination - Term Extension and Interest Rate Reduction |
|
|
|
|
|
|
|
|
|
|
|
|
Residential 1-4 Family – Consumer |
|
$ |
283 |
|
0.02 |
% |
|
$ |
630 |
|
0.05 |
% |
Total Combination - Term Extension and Interest Rate Reduction |
|
$ |
283 |
|
|
|
|
$ |
630 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Combination - Interest Rate Reduction, Term Extension and Other-Than-Insignificant Payment Delay |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and Industrial |
|
$ |
— |
|
— |
% |
|
$ |
106 |
|
NM |
% |
Total Combination - Interest Rate Reduction, Term Extension and Other-Than-Insignificant Payment Delay |
|
$ |
— |
|
|
|
|
$ |
106 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
1,296 |
|
|
|
|
$ |
24,477 |
|
|
|
NM = Not Meaningful
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
Nine Months Ended |
|
|
|
2023 |
|
|
2023 |
|
|
|
Amortized Cost |
|
% of Total Class of Financing Receivable |
|
|
Amortized Cost |
|
% of Total Class of Financing Receivable |
|
Term Extension |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial and Industrial |
|
$ |
97 |
|
NM |
|
|
$ |
2,008 |
|
0.06 |
% |
CRE – Non-Owner Occupied |
|
|
— |
|
— |
% |
|
|
20,133 |
|
0.49 |
% |
CRE – Owner Occupied |
|
|
766 |
|
0.04 |
% |
|
|
766 |
|
0.04 |
% |
Residential 1-4 Family – Consumer |
|
|
29 |
|
NM |
|
|
|
603 |
|
0.06 |
% |
Total Term Extension |
|
$ |
892 |
|
|
|
|
$ |
23,510 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Combination - Term Extension and Interest Rate Reduction |
|
|
|
|
|
|
|
|
|
|
|
|
Residential 1-4 Family – Consumer |
|
$ |
127 |
|
0.01 |
% |
|
$ |
959 |
|
0.09 |
% |
Residential 1-4 Family – Revolving |
|
|
— |
|
— |
% |
|
|
15 |
|
NM |
|
Total Combination - Term Extension and Interest Rate Reduction |
|
$ |
127 |
|
|
|
|
$ |
974 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal Forgiveness |
|
|
|
|
|
|
|
|
|
|
|
|
CRE – Non-Owner Occupied |
|
|
— |
|
— |
% |
|
|
4,935 |
|
0.12 |
% |
Total Principal Forgiveness |
|
$ |
— |
|
|
|
|
$ |
4,935 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
1,019 |
|
|
|
|
$ |
29,419 |
|
|
|
NM = Not Meaningful
The following table describes the financial effects of TLMs on a weighted average basis for TLMs within that loan type for the three and nine months ended September 30,:
|
|
|
|
|
|
|
|
|
Three Months Ended |
2024 |
|
|
|
|
|
|
|
|
|
Term Extension |
Loan Type |
|
Financial Effect |
CRE – Owner Occupied |
|
Added a weighted-average 3.0 years to the life of loans. |
|
|
|
|
|
|
|
|
|
Nine Months Ended |
2024 |
|
|
|
|
|
|
|
|
|
Other-Than-Insignificant Payment Delay and Term Extension |
Loan Type |
|
Financial Effect |
Commercial and Industrial |
|
Added a weighted-average 1.0 years to the life of loans. |
CRE – Non-Owner Occupied |
|
Added a weighted-average 1.6 years to the life of loans. |
|
|
|
|
|
|
|
|
|
Term Extension |
Loan Type |
|
Financial Effect |
CRE – Owner Occupied |
|
Added a weighted-average 3.0 years to the life of loans. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
2023 |
|
|
|
|
|
|
|
|
|
Term Extension |
Loan Type |
|
Financial Effect |
CRE – Owner Occupied |
|
Added a weighted-average 0.2 years to the life of loans. |
|
|
|
|
|
|
|
|
|
Nine Months Ended |
2023 |
|
|
|
|
|
|
|
|
|
Term Extension |
Loan Type |
|
Financial Effect |
Commercial and Industrial |
|
Added a weighted-average 0.2 years to the life of loans. |
CRE – Owner Occupied |
|
Added a weighted-average 0.2 years to the life of loans. |
CRE – Non-Owner Occupied |
|
Added a weighted-average 0.5 years to the life of loans. |
Residential 1-4 Family – Consumer |
|
Added a weighted-average 10.7 years to the life of loans. |
|
|
|
|
|
|
|
|
|
Combination - Term Extension and Interest Rate Reduction |
Loan Type |
|
Financial Effect |
Residential 1-4 Family – Consumer |
|
Added a weighted-average 20.3 years to the life of loans and reduced the weighted average contractual interest rate from 8.2% to 7.6%. |
Residential 1-4 Family – Revolving |
|
Added a weighted-average 19.1 years to the life of loans and reduced the weighted average contractual interest rate from 10.5% to 7.3%. |
|
|
|
|
|
|
|
|
|
Principal Forgiveness |
Loan Type |
|
Financial Effect |
CRE – Non-Owner Occupied |
|
Reduced the amortized cost basis of loans by $3.5 million. |
The Company considers a default of a TLM to occur when the borrower is 90 days past due following the modification or a foreclosure and repossession of the applicable collateral occurs. During the three and nine months ended September 30, 2024 and 2023, the Company did not have any material loans that went into default that had been modified and designated as TLMs in the twelve-month period prior to the time of default.
The Company monitors the performance of TLMs to determine the effectiveness of the modifications. During the three and nine months ended September 30, 2024 and 2023, the Company did not have any material loans that have been modified and designated as TLMs that were past due.
As of September 30, 2024, there were no unfunded commitments on loans modified and designated as TLMs. As of December 31, 2023, unfunded commitments on loans modified and designated as TLMs were $1.6 million.
Allowance for Loan and Lease Losses
ALLL on the loan portfolio is a material estimate for the Company. The Company estimates its ALLL on its loan portfolio on a quarterly basis. The Company models the ALLL using two primary segments, Commercial and Consumer. Each loan segment is further disaggregated into classes based on similar risk characteristics. The Company has identified the following classes within each loan segment:
|
● |
Commercial: Construction and Land Development, CRE – Owner Occupied, CRE – Non-Owner Occupied, Multifamily Real Estate, Commercial & Industrial, Residential 1-4 Family – Commercial, and Other Commercial
|
|
● |
Consumer: Residential 1-4 Family – Consumer, Residential 1-4 Family – Revolving, Auto, and Consumer
|
The following tables show the ALLL activity by loan segment for the three and nine months ended September 30, (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Nine Months Ended |
|
|
2024 |
|
2024 |
|
|
Commercial |
|
Consumer |
|
Total |
|
Commercial |
|
Consumer |
|
Total |
Balance at beginning of period |
|
$ |
131,139 |
|
$ |
26,992 |
|
$ |
158,131 |
|
$ |
105,896 |
|
$ |
26,286 |
|
$ |
132,182 |
Initial Allowance on PCD American National loans |
|
|
— |
|
|
— |
|
|
— |
|
|
2,609 |
|
|
1,287 |
|
|
3,896 |
Loans charged-off |
|
|
(1,642) |
|
|
(1,077) |
|
|
(2,719) |
|
|
(8,675) |
|
|
(3,026) |
|
|
(11,701) |
Recoveries credited to allowance |
|
|
1,292 |
|
|
761 |
|
|
2,053 |
|
|
2,881 |
|
|
1,497 |
|
|
4,378 |
Initial Provision - Non-PCD American National loans |
|
|
— |
|
|
— |
|
|
— |
|
|
11,213 |
|
|
2,016 |
|
|
13,229 |
Provision charged to operations |
|
|
1,931 |
|
|
1,289 |
|
|
3,220 |
|
|
18,796 |
|
|
(95) |
|
|
18,701 |
Balance at end of period |
|
$ |
132,720 |
|
$ |
27,965 |
|
$ |
160,685 |
|
$ |
132,720 |
|
$ |
27,965 |
|
$ |
160,685 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Nine Months Ended |
|
|
2023 |
|
2023 |
|
|
Commercial |
|
Consumer |
|
Total |
|
Commercial |
|
Consumer |
|
Total |
Balance at beginning of period |
|
$ |
92,970 |
|
$ |
27,713 |
|
$ |
120,683 |
|
$ |
82,753 |
|
$ |
28,015 |
|
$ |
110,768 |
Loans charged-off |
|
|
(788) |
|
|
(841) |
|
|
(1,629) |
|
|
(7,589) |
|
|
(2,368) |
|
|
(9,957) |
Recoveries credited to allowance |
|
|
878 |
|
|
457 |
|
|
1,335 |
|
|
1,911 |
|
|
1,626 |
|
|
3,537 |
Provision charged to operations |
|
|
5,880 |
|
|
(642) |
|
|
5,238 |
|
|
21,865 |
|
|
(586) |
|
|
21,279 |
Balance at end of period |
|
$ |
98,940 |
|
$ |
26,687 |
|
$ |
125,627 |
|
$ |
98,940 |
|
$ |
26,687 |
|
$ |
125,627 |
The following table presents additional information related to the acquired American National loan portfolio at the acquisition date, including the initial ACL at acquisition on the PCD loans (dollars in thousands):
|
|
|
|
|
|
|
April 1, 2024 |
PCD Loans: |
|
|
|
Book value of acquired loans at acquisition |
|
$ |
89,418 |
Initial ACL at acquisition |
|
|
(3,896) |
Non-credit discount at acquisition |
|
|
(10,466) |
Purchase Price |
|
$ |
75,056 |
|
|
|
|
Non-PCD Loans: |
|
|
|
Fair Value |
|
$ |
2,073,037 |
Gross contractual amounts receivable |
|
|
2,503,707 |
Estimate of contractual cash flows not expected to be collected |
|
|
10,887 |
Credit Quality Indicators
Credit quality indicators are used to help estimate the collectability of each loan class within the Commercial and Consumer loan segments. For classes of loans within the Commercial segment, the primary credit quality indicator used for evaluating credit quality and estimating the ALLL is risk rating categories of Pass, Watch, Special Mention, Substandard, and Doubtful. For classes of loans within the Consumer segment, the primary credit quality indicator used for evaluating credit quality and estimating ALLL is delinquency bands of current, 30-59, 60-89, 90+, and nonaccrual. While other credit quality indicators are evaluated and analyzed as part of the Company’s credit risk management activities, these indicators are primarily used in estimating the ALLL. The Company evaluates the credit risk of its loan portfolio on at least a quarterly basis.
The Company presents loan and lease portfolio segments and classes by credit quality indicator and vintage year. The Company defines the vintage date for the purpose of this disclosure as the date of the most recent credit decision. Renewals are categorized as new credit decisions and reflect the renewal date as the vintage date, except for renewals of loans modified for borrowers experiencing financial difficulty or TLMs, which are presented in the original vintage.
Refer to Note 1 “Summary of Significant Accounting Policies” in the “Notes to the Consolidated Financial Statements” contained in Item 8 “Financial Statements and Supplementary Data” in the Company’s 2023 Form 10-K for additional information on the Company’s policies and for further information on the Company’s credit quality indicators.
Commercial Loans
The Company uses a risk rating system as the primary credit quality indicator for classes of loans within the Commercial segment. The Company defines pass loans as risk rated 1-5 and criticized loans as risk rated 6-9. See Note 3 “Loans and
Allowance For Loan and Lease Losses” in the “Notes to Consolidated Financial Statements” contained in Item 8 “Financial Statements and Supplementary Data” of the Company’s 2023 Form 10-K for information on the Company’s risk rating system.
The table below details the amortized cost and gross write-offs of the classes of loans within the Commercial segment by risk level and year of origination as of September 30, (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2024 |
|
|
|
Term Loans Amortized Cost Basis by Origination Year |
|
Revolving |
|
|
|
|
|
2024 |
|
2023 |
|
2022 |
|
2021 |
|
2020 |
|
Prior |
|
Loans |
|
Total |
Construction and Land Development |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
248,772 |
|
$ |
546,827 |
|
$ |
453,332 |
|
$ |
124,660 |
|
$ |
21,372 |
|
$ |
47,130 |
|
$ |
103,907 |
|
$ |
1,546,000 |
Watch |
|
|
— |
|
|
4,019 |
|
|
2,187 |
|
|
1,135 |
|
|
— |
|
|
1,048 |
|
|
— |
|
|
8,389 |
Special Mention |
|
|
1,824 |
|
|
827 |
|
|
296 |
|
|
226 |
|
|
1,332 |
|
|
2,492 |
|
|
— |
|
|
6,997 |
Substandard |
|
|
160 |
|
|
81 |
|
|
22,945 |
|
|
991 |
|
|
1,527 |
|
|
1,441 |
|
|
— |
|
|
27,145 |
Total Construction and Land Development |
|
$ |
250,756 |
|
$ |
551,754 |
|
$ |
478,760 |
|
$ |
127,012 |
|
$ |
24,231 |
|
$ |
52,111 |
|
$ |
103,907 |
|
$ |
1,588,531 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
(392) |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(392) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CRE – Owner Occupied |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
119,494 |
|
$ |
237,967 |
|
$ |
286,271 |
|
$ |
267,150 |
|
$ |
253,840 |
|
$ |
1,053,513 |
|
$ |
27,073 |
|
$ |
2,245,308 |
Watch |
|
|
32,278 |
|
|
9,567 |
|
|
13,374 |
|
|
1,927 |
|
|
2,539 |
|
|
36,841 |
|
|
51 |
|
|
96,577 |
Special Mention |
|
|
1,163 |
|
|
9,527 |
|
|
1,590 |
|
|
1,748 |
|
|
2,878 |
|
|
14,266 |
|
|
2,201 |
|
|
33,373 |
Substandard |
|
|
— |
|
|
932 |
|
|
1,021 |
|
|
358 |
|
|
1,921 |
|
|
22,317 |
|
|
— |
|
|
26,549 |
Total CRE – Owner Occupied |
|
$ |
152,935 |
|
$ |
257,993 |
|
$ |
302,256 |
|
$ |
271,183 |
|
$ |
261,178 |
|
$ |
1,126,937 |
|
$ |
29,325 |
|
$ |
2,401,807 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(354) |
|
$ |
— |
|
$ |
(354) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CRE – Non-Owner Occupied |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
220,707 |
|
$ |
520,289 |
|
$ |
664,692 |
|
$ |
851,291 |
|
$ |
387,340 |
|
$ |
1,903,875 |
|
$ |
42,583 |
|
$ |
4,590,777 |
Watch |
|
|
— |
|
|
152 |
|
|
1,477 |
|
|
5,936 |
|
|
4,037 |
|
|
54,881 |
|
|
— |
|
|
66,483 |
Special Mention |
|
|
397 |
|
|
— |
|
|
17,947 |
|
|
5,125 |
|
|
3,355 |
|
|
62,509 |
|
|
12,750 |
|
|
102,083 |
Substandard |
|
|
— |
|
|
13,758 |
|
|
— |
|
|
1,128 |
|
|
39,701 |
|
|
71,782 |
|
|
73 |
|
|
126,442 |
Total CRE – Non-Owner Occupied |
|
$ |
221,104 |
|
$ |
534,199 |
|
$ |
684,116 |
|
$ |
863,480 |
|
$ |
434,433 |
|
$ |
2,093,047 |
|
$ |
55,406 |
|
$ |
4,885,785 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(3,386) |
|
$ |
— |
|
$ |
— |
|
$ |
(3,386) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial & Industrial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
627,486 |
|
$ |
688,535 |
|
$ |
571,125 |
|
$ |
331,698 |
|
$ |
138,708 |
|
$ |
259,312 |
|
$ |
925,580 |
|
$ |
3,542,444 |
Watch |
|
|
3,266 |
|
|
25,712 |
|
|
79,979 |
|
|
1,000 |
|
|
588 |
|
|
17,882 |
|
|
44,303 |
|
|
172,730 |
Special Mention |
|
|
46 |
|
|
4,961 |
|
|
9,119 |
|
|
3,653 |
|
|
2,674 |
|
|
290 |
|
|
46,054 |
|
|
66,797 |
Substandard |
|
|
61 |
|
|
696 |
|
|
1,249 |
|
|
2,145 |
|
|
620 |
|
|
3,725 |
|
|
9,405 |
|
|
17,901 |
Total Commercial & Industrial |
|
$ |
630,859 |
|
$ |
719,904 |
|
$ |
661,472 |
|
$ |
338,496 |
|
$ |
142,590 |
|
$ |
281,209 |
|
$ |
1,025,342 |
|
$ |
3,799,872 |
Current period gross write-off |
|
$ |
— |
|
$ |
(42) |
|
$ |
(239) |
|
$ |
(5) |
|
$ |
(113) |
|
$ |
(600) |
|
$ |
(962) |
|
$ |
(1,961) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Multifamily Real Estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
39,570 |
|
$ |
28,510 |
|
$ |
226,917 |
|
$ |
427,559 |
|
$ |
240,473 |
|
$ |
339,438 |
|
$ |
36,318 |
|
$ |
1,338,785 |
Watch |
|
|
— |
|
|
— |
|
|
1,722 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
1,722 |
Special Mention |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
250 |
|
|
1,196 |
|
|
— |
|
|
1,446 |
Substandard |
|
|
— |
|
|
14,212 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,512 |
|
|
53 |
|
|
15,777 |
Total Multifamily Real Estate |
|
$ |
39,570 |
|
$ |
42,722 |
|
$ |
228,639 |
|
$ |
427,559 |
|
$ |
240,723 |
|
$ |
342,146 |
|
$ |
36,371 |
|
$ |
1,357,730 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential 1-4 Family – Commercial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
42,386 |
|
$ |
68,715 |
|
$ |
140,565 |
|
$ |
111,205 |
|
$ |
80,592 |
|
$ |
259,004 |
|
$ |
9,394 |
|
$ |
711,861 |
Watch |
|
|
— |
|
|
338 |
|
|
1,072 |
|
|
509 |
|
|
809 |
|
|
6,840 |
|
|
101 |
|
|
9,669 |
Special Mention |
|
|
— |
|
|
— |
|
|
233 |
|
|
217 |
|
|
335 |
|
|
1,881 |
|
|
— |
|
|
2,666 |
Substandard |
|
|
519 |
|
|
— |
|
|
— |
|
|
232 |
|
|
613 |
|
|
3,502 |
|
|
253 |
|
|
5,119 |
Total Residential 1-4 Family – Commercial |
|
$ |
42,905 |
|
$ |
69,053 |
|
$ |
141,870 |
|
$ |
112,163 |
|
$ |
82,349 |
|
$ |
271,227 |
|
$ |
9,748 |
|
$ |
729,315 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Commercial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
163,223 |
|
$ |
206,491 |
|
$ |
175,616 |
|
$ |
166,506 |
|
$ |
87,207 |
|
$ |
172,238 |
|
$ |
96,733 |
|
$ |
1,068,014 |
Watch |
|
|
— |
|
|
572 |
|
|
7,095 |
|
|
983 |
|
|
7,013 |
|
|
4,599 |
|
|
— |
|
|
20,262 |
Special Mention |
|
|
— |
|
|
86 |
|
|
— |
|
|
— |
|
|
— |
|
|
591 |
|
|
— |
|
|
677 |
Substandard |
|
|
— |
|
|
493 |
|
|
— |
|
|
— |
|
|
41 |
|
|
2 |
|
|
99 |
|
|
635 |
Total Other Commercial |
|
$ |
163,223 |
|
$ |
207,642 |
|
$ |
182,711 |
|
$ |
167,489 |
|
$ |
94,261 |
|
$ |
177,430 |
|
$ |
96,832 |
|
$ |
1,089,588 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(2,582) |
|
$ |
— |
|
$ |
(2,582) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Commercial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
1,461,638 |
|
$ |
2,297,334 |
|
$ |
2,518,518 |
|
$ |
2,280,069 |
|
$ |
1,209,532 |
|
$ |
4,034,510 |
|
$ |
1,241,588 |
|
$ |
15,043,189 |
Watch |
|
|
35,544 |
|
|
40,360 |
|
|
106,906 |
|
|
11,490 |
|
|
14,986 |
|
|
122,091 |
|
|
44,455 |
|
|
375,832 |
Special Mention |
|
|
3,430 |
|
|
15,401 |
|
|
29,185 |
|
|
10,969 |
|
|
10,824 |
|
|
83,225 |
|
|
61,005 |
|
|
214,039 |
Substandard |
|
|
740 |
|
|
30,172 |
|
|
25,215 |
|
|
4,854 |
|
|
44,423 |
|
|
104,281 |
|
|
9,883 |
|
|
219,568 |
Total Commercial |
|
$ |
1,501,352 |
|
$ |
2,383,267 |
|
$ |
2,679,824 |
|
$ |
2,307,382 |
|
$ |
1,279,765 |
|
$ |
4,344,107 |
|
$ |
1,356,931 |
|
$ |
15,852,628 |
Total current period gross write-off |
|
$ |
— |
|
$ |
(42) |
|
$ |
(631) |
|
$ |
(5) |
|
$ |
(3,499) |
|
$ |
(3,536) |
|
$ |
(962) |
|
$ |
(8,675) |
The table below details the amortized cost and gross write-offs of the classes of loans within the Commercial segment by risk level and year of origination as of December 31, (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
|
|
Term Loans Amortized Cost Basis by Origination Year |
|
Revolving |
|
|
|
|
|
2023 |
|
2022 |
|
2021 |
|
2020 |
|
2019 |
|
Prior |
|
Loans |
|
Total |
Construction and Land Development |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
289,786 |
|
$ |
440,473 |
|
$ |
192,148 |
|
$ |
19,536 |
|
$ |
10,934 |
|
$ |
38,841 |
|
$ |
64,137 |
|
$ |
1,055,855 |
Watch |
|
|
84 |
|
|
3,611 |
|
|
16,249 |
|
|
— |
|
|
— |
|
|
2,127 |
|
|
— |
|
|
22,071 |
Special Mention |
|
|
— |
|
|
— |
|
|
4,444 |
|
|
1,332 |
|
|
— |
|
|
367 |
|
|
— |
|
|
6,143 |
Substandard |
|
|
114 |
|
|
1,244 |
|
|
1,248 |
|
|
20,705 |
|
|
205 |
|
|
265 |
|
|
— |
|
|
23,781 |
Total Construction and Land Development |
|
$ |
289,984 |
|
$ |
445,328 |
|
$ |
214,089 |
|
$ |
41,573 |
|
$ |
11,139 |
|
$ |
41,600 |
|
$ |
64,137 |
|
$ |
1,107,850 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(11) |
|
$ |
— |
|
$ |
(11) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CRE – Owner Occupied |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
175,627 |
|
$ |
257,889 |
|
$ |
194,030 |
|
$ |
239,549 |
|
$ |
259,502 |
|
$ |
750,180 |
|
$ |
23,689 |
|
$ |
1,900,466 |
Watch |
|
|
5,919 |
|
|
1,311 |
|
|
4,768 |
|
|
4,422 |
|
|
9,146 |
|
|
27,829 |
|
|
399 |
|
|
53,794 |
Special Mention |
|
|
786 |
|
|
849 |
|
|
249 |
|
|
— |
|
|
5,150 |
|
|
9,549 |
|
|
611 |
|
|
17,194 |
Substandard |
|
|
362 |
|
|
— |
|
|
— |
|
|
326 |
|
|
— |
|
|
26,645 |
|
|
— |
|
|
27,333 |
Total CRE – Owner Occupied |
|
$ |
182,694 |
|
$ |
260,049 |
|
$ |
199,047 |
|
$ |
244,297 |
|
$ |
273,798 |
|
$ |
814,203 |
|
$ |
24,699 |
|
$ |
1,998,787 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(141) |
|
$ |
— |
|
$ |
(141) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CRE – Non-Owner Occupied |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
374,221 |
|
$ |
548,262 |
|
$ |
710,122 |
|
$ |
334,449 |
|
$ |
492,782 |
|
$ |
1,419,882 |
|
$ |
35,276 |
|
$ |
3,914,994 |
Watch |
|
|
— |
|
|
1,520 |
|
|
1,690 |
|
|
— |
|
|
32,326 |
|
|
82,930 |
|
|
— |
|
|
118,466 |
Special Mention |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
67,001 |
|
|
12,155 |
|
|
79,156 |
Substandard |
|
|
4,837 |
|
|
— |
|
|
2,121 |
|
|
17,956 |
|
|
5,899 |
|
|
28,972 |
|
|
— |
|
|
59,785 |
Total CRE – Non-Owner Occupied |
|
$ |
379,058 |
|
$ |
549,782 |
|
$ |
713,933 |
|
$ |
352,405 |
|
$ |
531,007 |
|
$ |
1,598,785 |
|
$ |
47,431 |
|
$ |
4,172,401 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(3,528) |
|
$ |
— |
|
$ |
(3,528) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial & Industrial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
981,290 |
|
$ |
617,805 |
|
$ |
409,973 |
|
$ |
178,578 |
|
$ |
122,160 |
|
$ |
168,368 |
|
$ |
923,359 |
|
$ |
3,401,533 |
Watch |
|
|
2,708 |
|
|
38,711 |
|
|
512 |
|
|
1,379 |
|
|
18,065 |
|
|
4,943 |
|
|
22,832 |
|
|
89,150 |
Special Mention |
|
|
108 |
|
|
32,714 |
|
|
981 |
|
|
3,310 |
|
|
1,722 |
|
|
1,513 |
|
|
19,865 |
|
|
60,213 |
Substandard |
|
|
— |
|
|
146 |
|
|
343 |
|
|
2,000 |
|
|
925 |
|
|
3,181 |
|
|
31,856 |
|
|
38,451 |
Total Commercial & Industrial |
|
$ |
984,106 |
|
$ |
689,376 |
|
$ |
411,809 |
|
$ |
185,267 |
|
$ |
142,872 |
|
$ |
178,005 |
|
$ |
997,912 |
|
$ |
3,589,347 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
(101) |
|
$ |
— |
|
$ |
— |
|
$ |
(17) |
|
$ |
(1,812) |
|
$ |
(1,930) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Multifamily Real Estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
21,911 |
|
$ |
129,854 |
|
$ |
321,918 |
|
$ |
222,172 |
|
$ |
45,879 |
|
$ |
250,887 |
|
$ |
50,060 |
|
$ |
1,042,681 |
Watch |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
914 |
|
|
— |
|
|
914 |
Special Mention |
|
|
— |
|
|
— |
|
|
— |
|
|
250 |
|
|
— |
|
|
81 |
|
|
— |
|
|
331 |
Substandard |
|
|
14,222 |
|
|
— |
|
|
— |
|
|
— |
|
|
3,703 |
|
|
146 |
|
|
— |
|
|
18,071 |
Total Multifamily Real Estate |
|
$ |
36,133 |
|
$ |
129,854 |
|
$ |
321,918 |
|
$ |
222,422 |
|
$ |
49,582 |
|
$ |
252,028 |
|
$ |
50,060 |
|
$ |
1,061,997 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential 1-4 Family – Commercial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
41,631 |
|
$ |
67,495 |
|
$ |
77,321 |
|
$ |
69,779 |
|
$ |
44,498 |
|
$ |
203,125 |
|
$ |
604 |
|
$ |
504,453 |
Watch |
|
|
49 |
|
|
387 |
|
|
580 |
|
|
220 |
|
|
757 |
|
|
8,854 |
|
|
107 |
|
|
10,954 |
Special Mention |
|
|
47 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
1,302 |
|
|
— |
|
|
1,349 |
Substandard |
|
|
57 |
|
|
— |
|
|
614 |
|
|
279 |
|
|
624 |
|
|
3,997 |
|
|
253 |
|
|
5,824 |
Total Residential 1-4 Family – Commercial |
|
$ |
41,784 |
|
$ |
67,882 |
|
$ |
78,515 |
|
$ |
70,278 |
|
$ |
45,879 |
|
$ |
217,278 |
|
$ |
964 |
|
$ |
522,580 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Commercial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
201,252 |
|
$ |
180,346 |
|
$ |
165,732 |
|
$ |
114,838 |
|
$ |
123,515 |
|
$ |
62,284 |
|
$ |
9,850 |
|
$ |
857,817 |
Watch |
|
|
14,355 |
|
|
— |
|
|
— |
|
|
32 |
|
|
4 |
|
|
3,977 |
|
|
— |
|
|
18,368 |
Special Mention |
|
|
93 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
630 |
|
|
— |
|
|
723 |
Total Other Commercial |
|
$ |
215,700 |
|
$ |
180,346 |
|
$ |
165,732 |
|
$ |
114,870 |
|
$ |
123,519 |
|
$ |
66,891 |
|
$ |
9,850 |
|
$ |
876,908 |
Current period gross write-off |
|
$ |
— |
|
$ |
(101) |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(3,016) |
|
$ |
— |
|
$ |
(3,117) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Commercial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
2,085,718 |
|
$ |
2,242,124 |
|
$ |
2,071,244 |
|
$ |
1,178,901 |
|
$ |
1,099,270 |
|
$ |
2,893,567 |
|
$ |
1,106,975 |
|
$ |
12,677,799 |
Watch |
|
|
23,115 |
|
|
45,540 |
|
|
23,799 |
|
|
6,053 |
|
|
60,298 |
|
|
131,574 |
|
|
23,338 |
|
|
313,717 |
Special Mention |
|
|
1,034 |
|
|
33,563 |
|
|
5,674 |
|
|
4,892 |
|
|
6,872 |
|
|
80,443 |
|
|
32,631 |
|
|
165,109 |
Substandard |
|
|
19,592 |
|
|
1,390 |
|
|
4,326 |
|
|
41,266 |
|
|
11,356 |
|
|
63,206 |
|
|
32,109 |
|
|
173,245 |
Total Commercial |
|
$ |
2,129,459 |
|
$ |
2,322,617 |
|
$ |
2,105,043 |
|
$ |
1,231,112 |
|
$ |
1,177,796 |
|
$ |
3,168,790 |
|
$ |
1,195,053 |
|
$ |
13,329,870 |
Total current period gross write-off |
|
$ |
— |
|
$ |
(101) |
|
$ |
(101) |
|
$ |
— |
|
$ |
— |
|
$ |
(6,713) |
|
$ |
(1,812) |
|
$ |
(8,727) |
Consumer Loans
For Consumer loans, the Company evaluates credit quality based on the delinquency status of the loan. The following table details the amortized cost and gross write-offs of the classes of loans within the Consumer segment based on their delinquency status and year of origination as of September 30, (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2024 |
|
|
|
Term Loans Amortized Cost Basis by Origination Year |
|
Revolving |
|
|
|
|
|
2024 |
|
2023 |
|
2022 |
|
2021 |
|
2020 |
|
Prior |
|
Loans |
|
Total |
Residential 1-4 Family – Consumer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
$ |
109,941 |
|
$ |
170,351 |
|
$ |
290,571 |
|
$ |
281,489 |
|
$ |
154,185 |
|
$ |
254,128 |
|
$ |
13 |
|
$ |
1,260,678 |
30-59 Days Past Due |
|
|
— |
|
|
131 |
|
|
42 |
|
|
— |
|
|
— |
|
|
298 |
|
|
— |
|
|
471 |
60-89 Days Past Due |
|
|
— |
|
|
— |
|
|
717 |
|
|
5,078 |
|
|
— |
|
|
1,155 |
|
|
— |
|
|
6,950 |
90+ Days Past Due |
|
|
— |
|
|
72 |
|
|
95 |
|
|
— |
|
|
— |
|
|
1,723 |
|
|
— |
|
|
1,890 |
Nonaccrual |
|
|
— |
|
|
318 |
|
|
2,292 |
|
|
1,122 |
|
|
— |
|
|
8,193 |
|
|
— |
|
|
11,925 |
Total Residential 1-4 Family – Consumer |
|
$ |
109,941 |
|
$ |
170,872 |
|
$ |
293,717 |
|
$ |
287,689 |
|
$ |
154,185 |
|
$ |
265,497 |
|
$ |
13 |
|
$ |
1,281,914 |
Current period gross write-off |
|
$ |
— |
|
$ |
(76) |
|
$ |
(3) |
|
$ |
— |
|
$ |
— |
|
$ |
(19) |
|
$ |
— |
|
$ |
(98) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential 1-4 Family – Revolving |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
$ |
13,213 |
|
$ |
35,769 |
|
$ |
47,624 |
|
$ |
10,700 |
|
$ |
3,936 |
|
$ |
1,793 |
|
$ |
615,503 |
|
$ |
728,538 |
30-59 Days Past Due |
|
|
— |
|
|
89 |
|
|
60 |
|
|
— |
|
|
— |
|
|
— |
|
|
3,160 |
|
|
3,309 |
60-89 Days Past Due |
|
|
— |
|
|
178 |
|
|
130 |
|
|
— |
|
|
— |
|
|
— |
|
|
2,364 |
|
|
2,672 |
90+ Days Past Due |
|
|
— |
|
|
— |
|
|
14 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,172 |
|
|
1,186 |
Nonaccrual |
|
|
— |
|
|
54 |
|
|
115 |
|
|
— |
|
|
46 |
|
|
— |
|
|
2,745 |
|
|
2,960 |
Total Residential 1-4 Family – Revolving |
|
$ |
13,213 |
|
$ |
36,090 |
|
$ |
47,943 |
|
$ |
10,700 |
|
$ |
3,982 |
|
$ |
1,793 |
|
$ |
624,944 |
|
$ |
738,665 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(28) |
|
$ |
— |
|
$ |
— |
|
$ |
(145) |
|
$ |
(173) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Auto |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
$ |
1,840 |
|
$ |
60,423 |
|
$ |
161,406 |
|
$ |
77,325 |
|
$ |
34,173 |
|
$ |
15,206 |
|
$ |
— |
|
$ |
350,373 |
30-59 Days Past Due |
|
|
45 |
|
|
363 |
|
|
1,261 |
|
|
645 |
|
|
258 |
|
|
224 |
|
|
— |
|
|
2,796 |
60-89 Days Past Due |
|
|
— |
|
|
103 |
|
|
210 |
|
|
81 |
|
|
57 |
|
|
17 |
|
|
— |
|
|
468 |
90+ Days Past Due |
|
|
— |
|
|
112 |
|
|
171 |
|
|
20 |
|
|
73 |
|
|
25 |
|
|
— |
|
|
401 |
Nonaccrual |
|
|
— |
|
|
46 |
|
|
276 |
|
|
96 |
|
|
76 |
|
|
38 |
|
|
— |
|
|
532 |
Total Auto |
|
$ |
1,885 |
|
$ |
61,047 |
|
$ |
163,324 |
|
$ |
78,167 |
|
$ |
34,637 |
|
$ |
15,510 |
|
$ |
— |
|
$ |
354,570 |
Current period gross write-off |
|
$ |
— |
|
$ |
(153) |
|
$ |
(653) |
|
$ |
(263) |
|
$ |
(59) |
|
$ |
(62) |
|
$ |
— |
|
$ |
(1,190) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
$ |
11,268 |
|
$ |
9,292 |
|
$ |
15,310 |
|
$ |
7,746 |
|
$ |
6,466 |
|
$ |
30,332 |
|
$ |
28,073 |
|
$ |
108,487 |
30-59 Days Past Due |
|
|
11 |
|
|
73 |
|
|
179 |
|
|
11 |
|
|
24 |
|
|
371 |
|
|
31 |
|
|
700 |
60-89 Days Past Due |
|
|
— |
|
|
18 |
|
|
71 |
|
|
11 |
|
|
41 |
|
|
33 |
|
|
8 |
|
|
182 |
90+ Days Past Due |
|
|
4 |
|
|
11 |
|
|
42 |
|
|
6 |
|
|
2 |
|
|
62 |
|
|
16 |
|
|
143 |
Nonaccrual |
|
|
— |
|
|
— |
|
|
— |
|
|
9 |
|
|
— |
|
|
1 |
|
|
— |
|
|
10 |
Total Consumer |
|
$ |
11,283 |
|
$ |
9,394 |
|
$ |
15,602 |
|
$ |
7,783 |
|
$ |
6,533 |
|
$ |
30,799 |
|
$ |
28,128 |
|
$ |
109,522 |
Current period gross write-off |
|
$ |
— |
|
$ |
(192) |
|
$ |
(93) |
|
$ |
(26) |
|
$ |
(525) |
|
$ |
(591) |
|
$ |
(138) |
|
$ |
(1,565) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Consumer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
$ |
136,262 |
|
$ |
275,835 |
|
$ |
514,911 |
|
$ |
377,260 |
|
$ |
198,760 |
|
$ |
301,459 |
|
$ |
643,589 |
|
$ |
2,448,076 |
30-59 Days Past Due |
|
|
56 |
|
|
656 |
|
|
1,542 |
|
|
656 |
|
|
282 |
|
|
893 |
|
|
3,191 |
|
|
7,276 |
60-89 Days Past Due |
|
|
— |
|
|
299 |
|
|
1,128 |
|
|
5,170 |
|
|
98 |
|
|
1,205 |
|
|
2,372 |
|
|
10,272 |
90+ Days Past Due |
|
|
4 |
|
|
195 |
|
|
322 |
|
|
26 |
|
|
75 |
|
|
1,810 |
|
|
1,188 |
|
|
3,620 |
Nonaccrual |
|
|
— |
|
|
418 |
|
|
2,683 |
|
|
1,227 |
|
|
122 |
|
|
8,232 |
|
|
2,745 |
|
|
15,427 |
Total Consumer |
|
$ |
136,322 |
|
$ |
277,403 |
|
$ |
520,586 |
|
$ |
384,339 |
|
$ |
199,337 |
|
$ |
313,599 |
|
$ |
653,085 |
|
$ |
2,484,671 |
Total current period gross write-off |
|
$ |
— |
|
$ |
(421) |
|
$ |
(749) |
|
$ |
(317) |
|
$ |
(584) |
|
$ |
(672) |
|
$ |
(283) |
|
$ |
(3,026) |
The following table details the amortized cost and gross write-offs of the classes of loans within the Consumer segment based on their delinquency status and year of origination as of December 31, (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
|
|
Term Loans Amortized Cost Basis by Origination Year |
|
Revolving |
|
|
|
|
|
2023 |
|
2022 |
|
2021 |
|
2020 |
|
2019 |
|
Prior |
|
Loans |
|
Total |
Residential 1-4 Family – Consumer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
$ |
120,480 |
|
$ |
266,261 |
|
$ |
265,255 |
|
$ |
154,440 |
|
$ |
32,591 |
|
$ |
214,214 |
|
$ |
14 |
|
$ |
1,053,255 |
30-59 Days Past Due |
|
|
273 |
|
|
2,195 |
|
|
705 |
|
|
249 |
|
|
181 |
|
|
3,943 |
|
|
— |
|
|
7,546 |
60-89 Days Past Due |
|
|
208 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
1,596 |
|
|
— |
|
|
1,804 |
90+ Days Past Due |
|
|
— |
|
|
— |
|
|
1,713 |
|
|
— |
|
|
— |
|
|
2,757 |
|
|
— |
|
|
4,470 |
Nonaccrual |
|
|
205 |
|
|
875 |
|
|
870 |
|
|
— |
|
|
38 |
|
|
9,110 |
|
|
— |
|
|
11,098 |
Total Residential 1-4 Family – Consumer |
|
$ |
121,166 |
|
$ |
269,331 |
|
$ |
268,543 |
|
$ |
154,689 |
|
$ |
32,810 |
|
$ |
231,620 |
|
$ |
14 |
|
$ |
1,078,173 |
Current period gross write-off |
|
$ |
— |
|
$ |
(16) |
|
$ |
(21) |
|
$ |
— |
|
$ |
(69) |
|
$ |
(95) |
|
$ |
— |
|
$ |
(201) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential 1-4 Family – Revolving |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
$ |
42,593 |
|
$ |
54,560 |
|
$ |
11,756 |
|
$ |
4,348 |
|
$ |
937 |
|
$ |
1,115 |
|
$ |
496,275 |
|
$ |
611,584 |
30-59 Days Past Due |
|
|
— |
|
|
14 |
|
|
— |
|
|
— |
|
|
39 |
|
|
— |
|
|
2,185 |
|
|
2,238 |
60-89 Days Past Due |
|
|
181 |
|
|
148 |
|
|
— |
|
|
— |
|
|
— |
|
|
26 |
|
|
1,074 |
|
|
1,429 |
90+ Days Past Due |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
1,095 |
|
|
1,095 |
Nonaccrual |
|
|
— |
|
|
154 |
|
|
27 |
|
|
51 |
|
|
— |
|
|
— |
|
|
2,855 |
|
|
3,087 |
Total Residential 1-4 Family – Revolving |
|
$ |
42,774 |
|
$ |
54,876 |
|
$ |
11,783 |
|
$ |
4,399 |
|
$ |
976 |
|
$ |
1,141 |
|
$ |
503,484 |
|
$ |
619,433 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
(3) |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(55) |
|
$ |
(58) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Auto |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
$ |
77,293 |
|
$ |
210,692 |
|
$ |
107,568 |
|
$ |
52,742 |
|
$ |
24,877 |
|
$ |
7,385 |
|
$ |
— |
|
$ |
480,557 |
30-59 Days Past Due |
|
|
526 |
|
|
2,022 |
|
|
1,095 |
|
|
612 |
|
|
292 |
|
|
190 |
|
|
— |
|
|
4,737 |
60-89 Days Past Due |
|
|
61 |
|
|
326 |
|
|
298 |
|
|
58 |
|
|
96 |
|
|
33 |
|
|
— |
|
|
872 |
90+ Days Past Due |
|
|
36 |
|
|
210 |
|
|
24 |
|
|
112 |
|
|
23 |
|
|
5 |
|
|
— |
|
|
410 |
Nonaccrual |
|
|
39 |
|
|
120 |
|
|
63 |
|
|
69 |
|
|
59 |
|
|
— |
|
|
— |
|
|
350 |
Total Auto |
|
$ |
77,955 |
|
$ |
213,370 |
|
$ |
109,048 |
|
$ |
53,593 |
|
$ |
25,347 |
|
$ |
7,613 |
|
$ |
— |
|
$ |
486,926 |
Current period gross write-off |
|
$ |
(64) |
|
$ |
(487) |
|
$ |
(295) |
|
$ |
(145) |
|
$ |
(69) |
|
$ |
(80) |
|
$ |
— |
|
$ |
(1,140) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
$ |
12,453 |
|
$ |
23,303 |
|
$ |
10,442 |
|
$ |
7,999 |
|
$ |
15,176 |
|
$ |
24,056 |
|
$ |
26,058 |
|
$ |
119,487 |
30-59 Days Past Due |
|
|
21 |
|
|
156 |
|
|
28 |
|
|
32 |
|
|
129 |
|
|
366 |
|
|
38 |
|
|
770 |
60-89 Days Past Due |
|
|
11 |
|
|
82 |
|
|
40 |
|
|
14 |
|
|
47 |
|
|
21 |
|
|
17 |
|
|
232 |
90+ Days Past Due |
|
|
63 |
|
|
72 |
|
|
10 |
|
|
— |
|
|
— |
|
|
4 |
|
|
3 |
|
|
152 |
Total Consumer |
|
$ |
12,548 |
|
$ |
23,613 |
|
$ |
10,520 |
|
$ |
8,045 |
|
$ |
15,352 |
|
$ |
24,447 |
|
$ |
26,116 |
|
$ |
120,641 |
Current period gross write-off |
|
$ |
(43) |
|
$ |
(66) |
|
$ |
(124) |
|
$ |
(851) |
|
$ |
(23) |
|
$ |
(679) |
|
$ |
(83) |
|
$ |
(1,869) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Consumer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
$ |
252,819 |
|
$ |
554,816 |
|
$ |
395,021 |
|
$ |
219,529 |
|
$ |
73,581 |
|
$ |
246,770 |
|
$ |
522,347 |
|
$ |
2,264,883 |
30-59 Days Past Due |
|
|
820 |
|
|
4,387 |
|
|
1,828 |
|
|
893 |
|
|
641 |
|
|
4,499 |
|
|
2,223 |
|
|
15,291 |
60-89 Days Past Due |
|
|
461 |
|
|
556 |
|
|
338 |
|
|
72 |
|
|
143 |
|
|
1,676 |
|
|
1,091 |
|
|
4,337 |
90+ Days Past Due |
|
|
99 |
|
|
282 |
|
|
1,747 |
|
|
112 |
|
|
23 |
|
|
2,766 |
|
|
1,098 |
|
|
6,127 |
Nonaccrual |
|
|
244 |
|
|
1,149 |
|
|
960 |
|
|
120 |
|
|
97 |
|
|
9,110 |
|
|
2,855 |
|
|
14,535 |
Total Consumer |
|
$ |
254,443 |
|
$ |
561,190 |
|
$ |
399,894 |
|
$ |
220,726 |
|
$ |
74,485 |
|
$ |
264,821 |
|
$ |
529,614 |
|
$ |
2,305,173 |
Current period gross write-off |
|
$ |
(107) |
|
$ |
(569) |
|
$ |
(443) |
|
$ |
(996) |
|
$ |
(161) |
|
$ |
(854) |
|
$ |
(138) |
|
$ |
(3,268) |
As of September 30, 2024 and December 31, 2023, the Company did not have any significant revolving loans convert to term.
|