| LOANS AND ALLOWANCE FOR LOAN AND LEASE LOSSES |
4. LOANS AND ALLOWANCE FOR LOAN AND LEASE LOSSES
Loans Held for Investment
The Company’s LHFI, net, are loans stated at their amortized cost, net of the ALLL and net of unearned income. The LHFI consisted of the following as of the periods ended (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
March 31, 2026 |
|
December 31, 2025 |
Construction and Land Development |
|
|
$ |
1,748,413 |
|
$ |
1,666,381 |
CRE – Owner Occupied |
|
|
|
4,319,847 |
|
|
4,305,796 |
CRE – Non-Owner Occupied |
|
|
|
7,212,035 |
|
|
7,178,515 |
Multifamily Real Estate |
|
|
|
2,321,504 |
|
|
2,418,250 |
Commercial & Industrial |
|
|
|
5,384,856 |
|
|
5,229,728 |
Residential 1-4 Family – Commercial |
|
|
|
1,053,303 |
|
|
1,100,157 |
Residential 1-4 Family – Consumer |
|
|
|
2,839,216 |
|
|
2,825,259 |
Residential 1-4 Family – Revolving |
|
|
|
1,257,079 |
|
|
1,248,284 |
Auto |
|
|
|
156,843 |
|
|
183,720 |
Consumer |
|
|
|
109,755 |
|
|
121,488 |
Other Commercial |
|
|
|
1,543,573 |
|
|
1,518,589 |
Total LHFI, net of unearned income (1) |
|
|
|
27,946,424 |
|
|
27,796,167 |
Allowance for loan and lease losses |
|
|
|
(291,100) |
|
|
(295,108) |
Total LHFI, net |
|
|
$ |
27,655,324 |
|
$ |
27,501,059 |
(1) Total LHFI, net of unearned income included unamortized deferred fees and costs, as well as unamortized premiums and discounts totaling $761.0 million and $803.2 million as of March 31, 2026 and December 31, 2025, respectively.
Accrued interest receivable on LHFI totaled $101.9 million and $106.5 million at March 31, 2026 and December 31, 2025, respectively. Accrued interest receivable write-offs were not material to the Company’s consolidated financial statements for the three months ended March 31, 2026 and March 31, 2025.
The following table shows the aging of the Company’s LHFI portfolio by class at March 31, 2026 (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 |
|
$ |
1,739,577 |
|
$ |
2,866 |
|
$ |
3,299 |
|
$ |
186 |
|
$ |
2,485 |
|
$ |
1,748,413 |
|
CRE – Owner Occupied |
|
|
4,292,079 |
|
|
8,223 |
|
|
8,767 |
|
|
4,362 |
|
|
6,416 |
|
|
4,319,847 |
|
CRE – Non-Owner Occupied |
|
|
7,188,492 |
|
|
5,445 |
|
|
4,084 |
|
|
1,793 |
|
|
12,221 |
|
|
7,212,035 |
|
Multifamily Real Estate |
|
|
2,289,801 |
|
|
6,944 |
|
|
— |
|
|
4,195 |
|
|
20,564 |
|
|
2,321,504 |
|
Commercial & Industrial |
|
|
5,341,394 |
|
|
10,396 |
|
|
10,432 |
|
|
3,675 |
|
|
18,959 |
|
|
5,384,856 |
|
Residential 1-4 Family – Commercial |
|
|
1,041,327 |
|
|
4,076 |
|
|
323 |
|
|
1,161 |
|
|
6,416 |
|
|
1,053,303 |
|
Residential 1-4 Family – Consumer |
|
|
2,786,485 |
|
|
22,015 |
|
|
1,841 |
|
|
4,449 |
|
|
24,426 |
|
|
2,839,216 |
|
Residential 1-4 Family – Revolving |
|
|
1,242,063 |
|
|
4,094 |
|
|
1,218 |
|
|
4,340 |
|
|
5,364 |
|
|
1,257,079 |
|
Auto |
|
|
153,466 |
|
|
2,212 |
|
|
411 |
|
|
239 |
|
|
515 |
|
|
156,843 |
|
Consumer |
|
|
109,072 |
|
|
268 |
|
|
333 |
|
|
70 |
|
|
12 |
|
|
109,755 |
|
Other Commercial |
|
|
1,539,884 |
|
|
2,714 |
|
|
525 |
|
|
— |
|
|
450 |
|
|
1,543,573 |
|
Total LHFI, net of unearned income |
|
$ |
27,723,640 |
|
$ |
69,253 |
|
$ |
31,233 |
|
$ |
24,470 |
|
$ |
97,828 |
|
$ |
27,946,424 |
|
% of total loans |
|
|
99.20 |
% |
|
0.25 |
% |
|
0.11 |
% |
|
0.09 |
% |
|
0.35 |
% |
|
100.00 |
% |
The following table shows the aging of the Company’s LHFI portfolio by class at December 31, 2025 (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 |
|
$ |
1,659,048 |
|
$ |
1,455 |
|
$ |
94 |
|
$ |
1,481 |
|
$ |
4,303 |
|
$ |
1,666,381 |
|
CRE – Owner Occupied |
|
|
4,284,562 |
|
|
7,241 |
|
|
3,171 |
|
|
4,788 |
|
|
6,034 |
|
|
4,305,796 |
|
CRE – Non-Owner Occupied |
|
|
7,154,178 |
|
|
9,482 |
|
|
1,455 |
|
|
2,099 |
|
|
11,301 |
|
|
7,178,515 |
|
Multifamily Real Estate |
|
|
2,366,442 |
|
|
52 |
|
|
247 |
|
|
6,140 |
|
|
45,369 |
|
|
2,418,250 |
|
Commercial & Industrial |
|
|
5,197,839 |
|
|
8,935 |
|
|
3,552 |
|
|
9,114 |
|
|
10,288 |
|
|
5,229,728 |
|
Residential 1-4 Family – Commercial |
|
|
1,087,181 |
|
|
2,634 |
|
|
1,306 |
|
|
2,379 |
|
|
6,657 |
|
|
1,100,157 |
|
Residential 1-4 Family – Consumer |
|
|
2,772,790 |
|
|
17,911 |
|
|
5,628 |
|
|
5,633 |
|
|
23,297 |
|
|
2,825,259 |
|
Residential 1-4 Family – Revolving |
|
|
1,233,032 |
|
|
3,994 |
|
|
2,157 |
|
|
3,458 |
|
|
5,643 |
|
|
1,248,284 |
|
Auto |
|
|
178,615 |
|
|
3,332 |
|
|
797 |
|
|
404 |
|
|
572 |
|
|
183,720 |
|
Consumer |
|
|
120,806 |
|
|
444 |
|
|
171 |
|
|
55 |
|
|
12 |
|
|
121,488 |
|
Other Commercial |
|
|
1,513,629 |
|
|
3,242 |
|
|
143 |
|
|
— |
|
|
1,575 |
|
|
1,518,589 |
|
Total LHFI, net of unearned income |
|
$ |
27,568,122 |
|
$ |
58,722 |
|
$ |
18,721 |
|
$ |
35,551 |
|
$ |
115,051 |
|
$ |
27,796,167 |
|
% of total loans |
|
|
99.18 |
% |
|
0.21 |
% |
|
0.07 |
% |
|
0.13 |
% |
|
0.41 |
% |
|
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):
|
|
|
|
|
|
|
|
|
March 31, |
|
December 31, |
|
|
2026 |
|
2025 |
Construction and Land Development |
|
$ |
— |
|
$ |
2,700 |
CRE – Owner Occupied |
|
|
1,365 |
|
|
1,430 |
CRE – Non-Owner Occupied |
|
|
7,382 |
|
|
10,097 |
Multifamily Real Estate |
|
|
19,885 |
|
|
45,369 |
Commercial & Industrial |
|
|
9,535 |
|
|
2,751 |
Residential 1-4 Family – Commercial |
|
|
4,548 |
|
|
4,597 |
Residential 1-4 Family – Consumer |
|
|
1,094 |
|
|
1,122 |
Total LHFI, net of unearned income |
|
$ |
43,809 |
|
$ |
68,066 |
There was no interest income recognized on nonaccrual loans during the three months ended March 31, 2026 and March 31, 2025.
Troubled Loan Modifications (“TLMs”)
The following tables present the amortized cost basis of TLMs for the three months ended March 31, (dollars in thousands):
|
|
|
|
|
|
|
|
|
2026 |
|
|
|
Amortized Cost |
|
% of Total Class of Financing Receivable |
|
Term Extension |
|
|
|
|
|
|
Construction and Land Development |
|
|
9 |
|
NM |
% |
Residential 1-4 Family – Consumer |
|
|
232 |
|
0.01 |
% |
Total Term Extension |
|
$ |
241 |
|
|
|
|
|
|
|
|
|
|
Combination – Other-Than-Insignificant Payment Delay and Term Extension |
|
|
|
|
|
|
CRE – Non-Owner Occupied |
|
$ |
16,048 |
|
0.22 |
% |
Total Combination – Other-Than-Insignificant Payment Delay and Term Extension |
|
$ |
16,048 |
|
|
|
|
|
|
|
|
|
|
Combination – Term Extension and Interest Rate Reduction |
|
|
|
|
|
|
Residential 1-4 Family – Consumer |
|
$ |
459 |
|
0.02 |
% |
Total Combination – Term Extension and Interest Rate Reduction |
|
$ |
459 |
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
16,748 |
|
|
|
NM = Not Meaningful
|
|
|
|
|
|
|
|
|
2025 |
|
|
|
Amortized Cost |
|
% of Total Class of Financing Receivable |
|
Term Extension |
|
|
|
|
|
|
CRE – Owner Occupied |
|
|
305 |
|
0.01 |
% |
Residential 1-4 Family – Commercial |
|
|
332 |
|
0.04 |
% |
Residential 1-4 Family – Consumer |
|
|
201 |
|
0.20 |
% |
Total Term Extension |
|
$ |
838 |
|
|
|
|
|
|
|
|
|
|
Combination – Other-Than-Insignificant Payment Delay and Term Extension |
|
|
|
|
|
|
Commercial and Industrial |
|
$ |
493 |
|
0.01 |
% |
Total Combination – Other-Than-Insignificant Payment Delay and Term Extension |
|
$ |
493 |
|
|
|
|
|
|
|
|
|
|
Combination – Term Extension and Interest Rate Reduction |
|
|
|
|
|
|
Residential 1-4 Family – Consumer |
|
$ |
840 |
|
0.07 |
% |
Total Combination – Term Extension and Interest Rate Reduction |
|
$ |
840 |
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
2,171 |
|
|
|
The following tables describe the financial effects of TLMs on a weighted average basis for TLMs within that loan type for the three months ended March 31,:
|
|
|
|
|
|
|
|
|
2026 |
|
|
|
|
|
|
|
|
|
Combination – Other-Than-Insignificant Payment Delay and Term Extension |
Loan Type |
|
Financial Effect |
CRE – Non-Owner Occupied |
|
Added a weighted-average 1.1 years to the life of loans. |
|
|
|
|
|
|
|
|
|
2025 |
|
|
|
|
|
|
|
|
|
Combination – Term Extension and Interest Rate Reduction |
Loan Type |
|
Financial Effect |
Residential 1-4 Family – Consumer |
|
Added a weighted-average 1.6 years to the life of loans and reduced the weighted average contractual interest rate from 5.0% to 2.1%. |
|
|
|
|
|
|
|
|
|
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 months ended March 31, 2026 and March 31, 2025, 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 months ended March 31, 2026 and March 31, 2025, the Company did not have any material loans that had been modified and designated as TLMs that were past due.
As of March 31, 2026 and December 31, 2025, there were no material unfunded commitments on loans modified and designated as TLMs.
Allowance for Credit Losses
Effective January 1, 2026, the Company made certain changes to its allowance methodology as part of the continued enhancement of its credit modeling practices, resulting in more dynamic and precise modeling that allow for more granularity in the monitoring of our expected credit losses. As a result of this change, the Company moved from two loan portfolio segments (Commercial and Consumer) to three portfolio segments (CRE, Commercial and Industrial, and Consumer), by reorganizing the former Commercial segment into the CRE and Commercial and Industrial segments, with no changes made to the Consumer segment. The Company defines the three loan portfolio segments as follows:
|
● |
CRE: Construction and Land Development, CRE – Owner Occupied, CRE – Non-Owner Occupied, Multifamily Real Estate, Residential 1-4 Family – Commercial, and Other Commercial (Farmland)
|
|
● |
Commercial and Industrial: Commercial & Industrial and Other Commercial (Other)
|
|
● |
Consumer: Auto, Consumer, Residential 1-4 Family – Consumer, and Residential 1-4 Family – Revolving
|
The allowance methodology changes were accounted for prospectively as a change in accounting estimate, did not have a material impact on the Company’s consolidated financial statements, and resulted in no changes to previously reported values. Prior year tables do not reflect the allowance methodology changes, which were effective January 1, 2026. See Note 1 “Summary of Significant Accounting Policies” in Part I, Item 1 and “Critical Accounting Estimates” in Part I, Item 2 of this Quarterly Report for additional information on the change in methodology.
The following table shows the ALLL activity by loan segment for the three months ended March 31, reflecting the changes made to the Company’s allowance methodology effective January 1, 2026 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2026 |
|
|
CRE |
|
Commercial and Industrial |
|
Consumer |
|
Total |
Balance at beginning of period |
|
$ |
152,477 |
|
$ |
80,336 |
|
$ |
62,295 |
|
$ |
295,108 |
Loans charged-off (1) |
|
|
— |
|
|
(2,198) |
|
|
(703) |
|
|
(2,901) |
Recoveries credited to allowance |
|
|
367 |
|
|
542 |
|
|
398 |
|
|
1,307 |
Provision (release) charged to operations |
|
|
19,056 |
|
|
(19,983) |
|
|
(1,487) |
|
|
(2,414) |
Balance at end of period |
|
$ |
171,900 |
|
$ |
58,697 |
|
$ |
60,503 |
|
$ |
291,100 |
(1) In accordance with GAAP, amounts for the three months ended March 31, 2026 exclude $39.5 million of net charge-offs related to certain purchased credit deteriorated (“PCD”) loans that met the Company’s charge-off policy at the time of the acquisition. The amounts excluded for the three months ended March 31, 2026 related to measurement period adjustments recorded in the first quarter of 2026 associated with the Sandy Spring acquisition, based on additional information and evidence obtained by the Company relating to events or circumstances existing at the acquisition date.
The following table shows the ALLL activity by loan segment for the three months ended March 31, reflecting the Company’s previous allowance methodology (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
|
Commercial |
|
Consumer |
|
Total |
Balance at beginning of period |
|
$ |
148,887 |
|
$ |
29,757 |
|
$ |
178,644 |
Loans charged-off |
|
|
(1,847) |
|
|
(1,038) |
|
|
(2,885) |
Recoveries credited to allowance |
|
|
230 |
|
|
377 |
|
|
607 |
Provision charged to operations |
|
|
15,638 |
|
|
1,792 |
|
|
17,430 |
Balance at end of period |
|
$ |
162,908 |
|
$ |
30,888 |
|
$ |
193,796 |
The following table presents additional information related to the acquired Sandy Spring loan portfolio at the acquisition date, including the initial ACL at acquisition on the PCD loans (dollars in thousands):
|
|
|
|
PCD Loans |
|
|
April 1, 2025 |
Book value of acquired loans at acquisition (1) |
|
$ |
1,642,597 |
Initial ACL at acquisition (2) |
|
|
(28,265) |
Non-credit discount at acquisition (1) |
|
|
(119,513) |
Purchase Price |
|
$ |
1,494,819 |
|
|
|
|
Non-PCD Loans: |
|
|
|
Fair Value |
|
$ |
7,077,565 |
Gross contractual amounts receivable |
|
|
7,676,836 |
Estimate of contractual cash flows not expected to be collected |
|
|
130,113 |
(1) The Company recorded measurement period adjustments associated with the Sandy Spring acquisition, based on additional information and evidence obtained by the Company relating to events or circumstances existing at the acquisition date, reducing the book value of loans acquired at acquisition and the non-credit discount at acquisition.
(2) In accordance with GAAP, the amounts exclude $101.2 million of net charge-offs related to certain PCD loans that met the Company’s charge-off policy at the time of the acquisition.
Credit Quality Indicators
Credit quality indicators are used to help estimate the collectability of each loan class within the loan portfolio segments. For classes of loans within the CRE and Commercial and Industrial segments, the primary credit quality indicator used for evaluating credit quality and estimating the ALLL is risk rating categories of Pass (including 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 the 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.
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 2025 Form 10-K for additional information on the Company’s policies and for further information on the Company’s credit quality indicators.
CRE and Commercial and Industrial Loans
The Company uses a risk rating system as the primary credit quality indicator for classes of loans within the CRE and Commercial and Industrial segments. The Company defines pass loans as risk rated 1-5 and criticized loans as risk rated 6-9. See Note 4 “Loans and Allowance For Loan and Lease Losses” in the “Notes to the Consolidated Financial Statements” contained in Item 8 “Financial Statements and Supplementary Data” of the Company’s 2025 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 CRE segment by risk level and year of origination as of March 31, reflecting the changes made to the Company’s allowance methodology effective January 1, 2026 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2026 |
|
|
|
Term Loans Amortized Cost Basis by Origination Year |
|
Revolving |
|
|
|
|
|
2026 |
|
2025 |
|
2024 |
|
2023 |
|
2022 |
|
Prior |
|
Loans |
|
Total |
Construction and Land Development |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
73,514 |
|
$ |
535,427 |
|
$ |
366,153 |
|
$ |
236,047 |
|
$ |
82,869 |
|
$ |
88,878 |
|
$ |
239,014 |
|
$ |
1,621,902 |
Watch |
|
|
— |
|
|
48,143 |
|
|
1,773 |
|
|
14,028 |
|
|
4,543 |
|
|
1,369 |
|
|
13,373 |
|
|
83,229 |
Special Mention |
|
|
— |
|
|
737 |
|
|
487 |
|
|
931 |
|
|
— |
|
|
3,592 |
|
|
26,215 |
|
|
31,962 |
Substandard |
|
|
— |
|
|
315 |
|
|
1,918 |
|
|
73 |
|
|
598 |
|
|
8,416 |
|
|
— |
|
|
11,320 |
Total Construction and Land Development |
|
$ |
73,514 |
|
$ |
584,622 |
|
$ |
370,331 |
|
$ |
251,079 |
|
$ |
88,010 |
|
$ |
102,255 |
|
$ |
278,602 |
|
$ |
1,748,413 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CRE – Owner Occupied |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
140,517 |
|
$ |
428,309 |
|
$ |
289,757 |
|
$ |
294,767 |
|
$ |
491,493 |
|
$ |
2,251,113 |
|
$ |
46,422 |
|
$ |
3,942,378 |
Watch |
|
|
— |
|
|
4,226 |
|
|
18,427 |
|
|
25,421 |
|
|
18,394 |
|
|
92,522 |
|
|
1,706 |
|
|
160,696 |
Special Mention |
|
|
— |
|
|
4,261 |
|
|
9,814 |
|
|
12,325 |
|
|
5,990 |
|
|
84,089 |
|
|
2,026 |
|
|
118,505 |
Substandard |
|
|
— |
|
|
— |
|
|
11,272 |
|
|
16,359 |
|
|
8,416 |
|
|
62,081 |
|
|
140 |
|
|
98,268 |
Total CRE – Owner Occupied |
|
$ |
140,517 |
|
$ |
436,796 |
|
$ |
329,270 |
|
$ |
348,872 |
|
$ |
524,293 |
|
$ |
2,489,805 |
|
$ |
50,294 |
|
$ |
4,319,847 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CRE – Non-Owner Occupied |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
225,363 |
|
$ |
939,888 |
|
$ |
504,180 |
|
$ |
772,349 |
|
$ |
1,001,773 |
|
$ |
3,215,046 |
|
$ |
104,497 |
|
$ |
6,763,096 |
Watch |
|
|
— |
|
|
16,095 |
|
|
555 |
|
|
22,872 |
|
|
27,293 |
|
|
87,896 |
|
|
100 |
|
|
154,811 |
Special Mention |
|
|
— |
|
|
125 |
|
|
1,431 |
|
|
4,662 |
|
|
36,111 |
|
|
141,915 |
|
|
— |
|
|
184,244 |
Substandard |
|
|
— |
|
|
— |
|
|
— |
|
|
6,270 |
|
|
18,177 |
|
|
85,415 |
|
|
22 |
|
|
109,884 |
Total CRE – Non-Owner Occupied |
|
$ |
225,363 |
|
$ |
956,108 |
|
$ |
506,166 |
|
$ |
806,153 |
|
$ |
1,083,354 |
|
$ |
3,530,272 |
|
$ |
104,619 |
|
$ |
7,212,035 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Multifamily Real Estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
62,681 |
|
$ |
246,617 |
|
$ |
105,062 |
|
$ |
289,441 |
|
$ |
399,238 |
|
$ |
761,149 |
|
$ |
56,860 |
|
$ |
1,921,048 |
Watch |
|
|
— |
|
|
— |
|
|
— |
|
|
13,980 |
|
|
9,521 |
|
|
87,158 |
|
|
1,321 |
|
|
111,980 |
Special Mention |
|
|
— |
|
|
— |
|
|
669 |
|
|
21,577 |
|
|
56,618 |
|
|
35,496 |
|
|
— |
|
|
114,360 |
Substandard |
|
|
— |
|
|
— |
|
|
731 |
|
|
3,581 |
|
|
58,889 |
|
|
110,915 |
|
|
— |
|
|
174,116 |
Total Multifamily Real Estate |
|
$ |
62,681 |
|
$ |
246,617 |
|
$ |
106,462 |
|
$ |
328,579 |
|
$ |
524,266 |
|
$ |
994,718 |
|
$ |
58,181 |
|
$ |
2,321,504 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential 1-4 Family – Commercial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
19,742 |
|
$ |
88,554 |
|
$ |
62,509 |
|
$ |
75,344 |
|
$ |
176,551 |
|
$ |
553,968 |
|
$ |
6,078 |
|
$ |
982,746 |
Watch |
|
|
— |
|
|
2,675 |
|
|
2,188 |
|
|
1,542 |
|
|
5,659 |
|
|
14,382 |
|
|
2,956 |
|
|
29,402 |
Special Mention |
|
|
— |
|
|
1,073 |
|
|
2,662 |
|
|
— |
|
|
1,211 |
|
|
20,178 |
|
|
— |
|
|
25,124 |
Substandard |
|
|
— |
|
|
816 |
|
|
1,215 |
|
|
— |
|
|
834 |
|
|
12,913 |
|
|
253 |
|
|
16,031 |
Total Residential 1-4 Family – Commercial |
|
$ |
19,742 |
|
$ |
93,118 |
|
$ |
68,574 |
|
$ |
76,886 |
|
$ |
184,255 |
|
$ |
601,441 |
|
$ |
9,287 |
|
$ |
1,053,303 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Commercial (Farmland) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
— |
|
$ |
1,535 |
|
$ |
1,292 |
|
$ |
696 |
|
$ |
3,448 |
|
$ |
23,016 |
|
$ |
275 |
|
$ |
30,262 |
Watch |
|
|
— |
|
|
— |
|
|
233 |
|
|
— |
|
|
166 |
|
|
1,395 |
|
|
— |
|
|
1,794 |
Special Mention |
|
|
— |
|
|
— |
|
|
— |
|
|
71 |
|
|
— |
|
|
7,516 |
|
|
1,881 |
|
|
9,468 |
Substandard |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
18 |
|
|
— |
|
|
18 |
Total Other Commercial (Farmland) |
|
$ |
— |
|
$ |
1,535 |
|
$ |
1,525 |
|
$ |
767 |
|
$ |
3,614 |
|
$ |
31,945 |
|
$ |
2,156 |
|
$ |
41,542 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total CRE |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
521,817 |
|
$ |
2,240,330 |
|
$ |
1,328,953 |
|
$ |
1,668,644 |
|
$ |
2,155,372 |
|
$ |
6,893,170 |
|
$ |
453,146 |
|
$ |
15,261,432 |
Watch |
|
|
— |
|
|
71,139 |
|
|
23,176 |
|
|
77,843 |
|
|
65,576 |
|
|
284,722 |
|
|
19,456 |
|
|
541,912 |
Special Mention |
|
|
— |
|
|
6,196 |
|
|
15,063 |
|
|
39,566 |
|
|
99,930 |
|
|
292,786 |
|
|
30,122 |
|
|
483,663 |
Substandard |
|
|
— |
|
|
1,131 |
|
|
15,136 |
|
|
26,283 |
|
|
86,914 |
|
|
279,758 |
|
|
415 |
|
|
409,637 |
Total CRE |
|
$ |
521,817 |
|
$ |
2,318,796 |
|
$ |
1,382,328 |
|
$ |
1,812,336 |
|
$ |
2,407,792 |
|
$ |
7,750,436 |
|
$ |
503,139 |
|
$ |
16,696,644 |
Total current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
The table below details the amortized cost and gross write-offs of the classes of loans within the Commercial and Industrial segment by risk level and year of origination as of March 31, reflecting the changes made to the Company’s allowance methodology effective January 1, 2026 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2026 |
|
|
|
Term Loans Amortized Cost Basis by Origination Year |
|
Revolving |
|
|
|
|
|
2026 |
|
2025 |
|
2024 |
|
2023 |
|
2022 |
|
Prior |
|
Loans |
|
Total |
Commercial & Industrial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
315,733 |
|
$ |
1,121,173 |
|
$ |
633,911 |
|
$ |
388,315 |
|
$ |
444,267 |
|
$ |
523,069 |
|
$ |
1,437,684 |
|
$ |
4,864,152 |
Watch |
|
|
161 |
|
|
16,077 |
|
|
30,642 |
|
|
31,728 |
|
|
30,030 |
|
|
23,945 |
|
|
108,461 |
|
|
241,044 |
Special Mention |
|
|
— |
|
|
4,991 |
|
|
23,020 |
|
|
5,247 |
|
|
12,875 |
|
|
16,192 |
|
|
73,023 |
|
|
135,348 |
Substandard |
|
|
— |
|
|
4,661 |
|
|
13,131 |
|
|
32,560 |
|
|
22,372 |
|
|
16,323 |
|
|
55,265 |
|
|
144,312 |
Total Commercial & Industrial |
|
$ |
315,894 |
|
$ |
1,146,902 |
|
$ |
700,704 |
|
$ |
457,850 |
|
$ |
509,544 |
|
$ |
579,529 |
|
$ |
1,674,433 |
|
$ |
5,384,856 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(362) |
|
$ |
(110) |
|
$ |
— |
|
$ |
(288) |
|
$ |
(760) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Commercial (Other) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
37,468 |
|
$ |
304,037 |
|
$ |
230,542 |
|
$ |
162,940 |
|
$ |
145,753 |
|
$ |
313,594 |
|
$ |
270,179 |
|
$ |
1,464,513 |
Watch |
|
|
2,726 |
|
|
— |
|
|
5,226 |
|
|
105 |
|
|
19,838 |
|
|
747 |
|
|
— |
|
|
28,642 |
Special Mention |
|
|
— |
|
|
— |
|
|
— |
|
|
419 |
|
|
— |
|
|
— |
|
|
105 |
|
|
524 |
Substandard |
|
|
— |
|
|
543 |
|
|
— |
|
|
3,252 |
|
|
3,425 |
|
|
1,042 |
|
|
90 |
|
|
8,352 |
Total Other Commercial (Other) |
|
$ |
40,194 |
|
$ |
304,580 |
|
$ |
235,768 |
|
$ |
166,716 |
|
$ |
169,016 |
|
$ |
315,383 |
|
$ |
270,374 |
|
$ |
1,502,031 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(1,438) |
|
$ |
— |
|
$ |
(1,438) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Commercial & Industrial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
353,201 |
|
$ |
1,425,210 |
|
$ |
864,453 |
|
$ |
551,255 |
|
$ |
590,020 |
|
$ |
836,663 |
|
$ |
1,707,863 |
|
$ |
6,328,665 |
Watch |
|
|
2,887 |
|
|
16,077 |
|
|
35,868 |
|
|
31,833 |
|
|
49,868 |
|
|
24,692 |
|
|
108,461 |
|
|
269,686 |
Special Mention |
|
|
— |
|
|
4,991 |
|
|
23,020 |
|
|
5,666 |
|
|
12,875 |
|
|
16,192 |
|
|
73,128 |
|
|
135,872 |
Substandard |
|
|
— |
|
|
5,204 |
|
|
13,131 |
|
|
35,812 |
|
|
25,797 |
|
|
17,365 |
|
|
55,355 |
|
|
152,664 |
Total Commercial & Industrial |
|
$ |
356,088 |
|
$ |
1,451,482 |
|
$ |
936,472 |
|
$ |
624,566 |
|
$ |
678,560 |
|
$ |
894,912 |
|
$ |
1,944,807 |
|
$ |
6,886,887 |
Total current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(362) |
|
$ |
(110) |
|
$ |
(1,438) |
|
$ |
(288) |
|
$ |
(2,198) |
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, reflecting the Company’s previous allowance methodology (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
|
|
Term Loans Amortized Cost Basis by Origination Year |
|
Revolving |
|
|
|
|
|
2025 |
|
2024 |
|
2023 |
|
2022 |
|
2021 |
|
Prior |
|
Loans |
|
Total |
Construction and Land Development |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
557,083 |
|
$ |
381,768 |
|
$ |
233,793 |
|
$ |
84,396 |
|
$ |
39,055 |
|
$ |
58,001 |
|
$ |
242,753 |
|
$ |
1,596,849 |
Watch |
|
|
10,712 |
|
|
136 |
|
|
51 |
|
|
671 |
|
|
989 |
|
|
3,260 |
|
|
7,759 |
|
|
23,578 |
Special Mention |
|
|
542 |
|
|
2,092 |
|
|
2,980 |
|
|
463 |
|
|
793 |
|
|
4,845 |
|
|
26,145 |
|
|
37,860 |
Substandard |
|
|
319 |
|
|
547 |
|
|
74 |
|
|
135 |
|
|
2,519 |
|
|
4,500 |
|
|
— |
|
|
8,094 |
Total Construction and Land Development |
|
$ |
568,656 |
|
$ |
384,543 |
|
$ |
236,898 |
|
$ |
85,665 |
|
$ |
43,356 |
|
$ |
70,606 |
|
$ |
276,657 |
|
$ |
1,666,381 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
- |
|
$ |
— |
|
$ |
(40) |
|
$ |
(3) |
|
$ |
— |
|
$ |
(43) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CRE – Owner Occupied |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
442,571 |
|
$ |
305,006 |
|
$ |
298,355 |
|
$ |
497,750 |
|
$ |
500,885 |
|
$ |
1,823,826 |
|
$ |
53,556 |
|
$ |
3,921,949 |
Watch |
|
|
4,532 |
|
|
14,892 |
|
|
31,258 |
|
|
17,474 |
|
|
12,006 |
|
|
77,890 |
|
|
2,121 |
|
|
160,173 |
Special Mention |
|
|
6,962 |
|
|
7,435 |
|
|
6,210 |
|
|
10,907 |
|
|
6,604 |
|
|
77,134 |
|
|
1,275 |
|
|
116,527 |
Substandard |
|
|
— |
|
|
6,644 |
|
|
16,427 |
|
|
7,014 |
|
|
27,267 |
|
|
49,520 |
|
|
140 |
|
|
107,012 |
Doubtful |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
135 |
|
|
— |
|
|
135 |
Total CRE – Owner Occupied |
|
$ |
454,065 |
|
$ |
333,977 |
|
$ |
352,250 |
|
$ |
533,145 |
|
$ |
546,762 |
|
$ |
2,028,505 |
|
$ |
57,092 |
|
$ |
4,305,796 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(147) |
|
$ |
— |
|
$ |
(147) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CRE – Non-Owner Occupied |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
905,007 |
|
$ |
486,703 |
|
$ |
811,972 |
|
$ |
1,060,691 |
|
$ |
741,739 |
|
$ |
2,628,053 |
|
$ |
78,676 |
|
$ |
6,712,841 |
Watch |
|
|
— |
|
|
556 |
|
|
39,149 |
|
|
17,010 |
|
|
23,926 |
|
|
59,738 |
|
|
196 |
|
|
140,575 |
Special Mention |
|
|
505 |
|
|
1,434 |
|
|
2,600 |
|
|
23,267 |
|
|
76,411 |
|
|
68,195 |
|
|
— |
|
|
172,412 |
Substandard |
|
|
— |
|
|
— |
|
|
6,264 |
|
|
38,108 |
|
|
1,138 |
|
|
107,153 |
|
|
24 |
|
|
152,687 |
Total CRE – Non-Owner Occupied |
|
$ |
905,512 |
|
$ |
488,693 |
|
$ |
859,985 |
|
$ |
1,139,076 |
|
$ |
843,214 |
|
$ |
2,863,139 |
|
$ |
78,896 |
|
$ |
7,178,515 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(491) |
|
$ |
— |
|
$ |
(491) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial & Industrial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
1,125,728 |
|
$ |
730,095 |
|
$ |
446,849 |
|
$ |
487,440 |
|
$ |
251,752 |
|
$ |
351,402 |
|
$ |
1,344,042 |
|
$ |
4,737,308 |
Watch |
|
|
16,322 |
|
|
35,316 |
|
|
13,751 |
|
|
39,156 |
|
|
8,963 |
|
|
21,615 |
|
|
121,435 |
|
|
256,558 |
Special Mention |
|
|
6,978 |
|
|
16,326 |
|
|
5,861 |
|
|
8,117 |
|
|
4,029 |
|
|
5,914 |
|
|
60,923 |
|
|
108,148 |
Substandard |
|
|
2,785 |
|
|
12,444 |
|
|
33,386 |
|
|
21,588 |
|
|
10,563 |
|
|
5,663 |
|
|
41,285 |
|
|
127,714 |
Total Commercial & Industrial |
|
$ |
1,151,813 |
|
$ |
794,181 |
|
$ |
499,847 |
|
$ |
556,301 |
|
$ |
275,307 |
|
$ |
384,594 |
|
$ |
1,567,685 |
|
$ |
5,229,728 |
Current period gross write-off |
|
$ |
— |
|
$ |
(1,605) |
|
$ |
(69) |
|
$ |
(2,483) |
|
$ |
(10) |
|
$ |
(197) |
|
$ |
(34,451) |
|
$ |
(38,815) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Multifamily Real Estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
192,761 |
|
$ |
123,570 |
|
$ |
289,889 |
|
$ |
441,536 |
|
$ |
247,973 |
|
$ |
592,615 |
|
$ |
49,203 |
|
$ |
1,937,547 |
Watch |
|
|
— |
|
|
— |
|
|
14,029 |
|
|
25,464 |
|
|
98,973 |
|
|
3,850 |
|
|
1,317 |
|
|
143,633 |
Special Mention |
|
|
— |
|
|
671 |
|
|
21,572 |
|
|
62,470 |
|
|
— |
|
|
18,533 |
|
|
— |
|
|
103,246 |
Substandard |
|
|
2,372 |
|
|
729 |
|
|
— |
|
|
71,278 |
|
|
37,422 |
|
|
74,668 |
|
|
47,355 |
|
|
233,824 |
Total Multifamily Real Estate |
|
$ |
195,133 |
|
$ |
124,970 |
|
$ |
325,490 |
|
$ |
600,748 |
|
$ |
384,368 |
|
$ |
689,666 |
|
$ |
97,875 |
|
$ |
2,418,250 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(47) |
|
$ |
— |
|
$ |
(47) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential 1-4 Family – Commercial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
93,538 |
|
$ |
70,435 |
|
$ |
82,732 |
|
$ |
198,071 |
|
$ |
172,024 |
|
$ |
408,213 |
|
$ |
4,255 |
|
$ |
1,029,268 |
Watch |
|
|
2,975 |
|
|
2,533 |
|
|
1,558 |
|
|
6,193 |
|
|
3,887 |
|
|
11,349 |
|
|
2,431 |
|
|
30,926 |
Special Mention |
|
|
2,404 |
|
|
1,277 |
|
|
— |
|
|
1,209 |
|
|
860 |
|
|
17,009 |
|
|
— |
|
|
22,759 |
Substandard |
|
|
— |
|
|
248 |
|
|
— |
|
|
206 |
|
|
4,843 |
|
|
11,654 |
|
|
253 |
|
|
17,204 |
Total Residential 1-4 Family – Commercial |
|
$ |
98,917 |
|
$ |
74,493 |
|
$ |
84,290 |
|
$ |
205,679 |
|
$ |
181,614 |
|
$ |
448,225 |
|
$ |
6,939 |
|
$ |
1,100,157 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(185) |
|
$ |
— |
|
$ |
(185) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Commercial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
270,356 |
|
$ |
246,933 |
|
$ |
172,163 |
|
$ |
157,255 |
|
$ |
168,474 |
|
$ |
179,392 |
|
$ |
276,970 |
|
$ |
1,471,543 |
Watch |
|
|
— |
|
|
— |
|
|
113 |
|
|
20,631 |
|
|
746 |
|
|
5,873 |
|
|
— |
|
|
27,363 |
Special Mention |
|
|
— |
|
|
— |
|
|
75 |
|
|
— |
|
|
184 |
|
|
6,944 |
|
|
2,688 |
|
|
9,891 |
Substandard |
|
|
556 |
|
|
— |
|
|
4,519 |
|
|
3,040 |
|
|
1,552 |
|
|
35 |
|
|
90 |
|
|
9,792 |
Total Other Commercial |
|
$ |
270,912 |
|
$ |
246,933 |
|
$ |
176,870 |
|
$ |
180,926 |
|
$ |
170,956 |
|
$ |
192,244 |
|
$ |
279,748 |
|
$ |
1,518,589 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
(140) |
|
$ |
(2,617) |
|
$ |
— |
|
$ |
(3,514) |
|
$ |
— |
|
$ |
(6,271) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Commercial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
3,587,044 |
|
$ |
2,344,510 |
|
$ |
2,335,753 |
|
$ |
2,927,139 |
|
$ |
2,121,902 |
|
$ |
6,041,502 |
|
$ |
2,049,455 |
|
$ |
21,407,305 |
Watch |
|
|
34,541 |
|
|
53,433 |
|
|
99,909 |
|
|
126,599 |
|
|
149,490 |
|
|
183,575 |
|
|
135,259 |
|
|
782,806 |
Special Mention |
|
|
17,391 |
|
|
29,235 |
|
|
39,298 |
|
|
106,433 |
|
|
88,881 |
|
|
198,574 |
|
|
91,031 |
|
|
570,843 |
Substandard |
|
|
6,032 |
|
|
20,612 |
|
|
60,670 |
|
|
141,369 |
|
|
85,304 |
|
|
253,193 |
|
|
89,147 |
|
|
656,327 |
Doubtful |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
135 |
|
|
— |
|
|
135 |
Total Commercial |
|
$ |
3,645,008 |
|
$ |
2,447,790 |
|
$ |
2,535,630 |
|
$ |
3,301,540 |
|
$ |
2,445,577 |
|
$ |
6,676,979 |
|
$ |
2,364,892 |
|
$ |
23,417,416 |
Total current period gross write-off |
|
$ |
— |
|
$ |
(1,605) |
|
$ |
(209) |
|
$ |
(5,100) |
|
$ |
(50) |
|
$ |
(4,584) |
|
$ |
(34,451) |
|
$ |
(45,999) |
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 March 31, (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2026 |
|
|
|
Term Loans Amortized Cost Basis by Origination Year |
|
Revolving |
|
|
|
|
|
2026 |
|
2025 |
|
2024 |
|
2023 |
|
2022 |
|
Prior |
|
Loans |
|
Total |
Residential 1-4 Family – Consumer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
$ |
67,916 |
|
$ |
327,876 |
|
$ |
193,403 |
|
$ |
193,081 |
|
$ |
683,016 |
|
$ |
1,305,417 |
|
$ |
15,776 |
|
$ |
2,786,485 |
30-59 Days Past Due |
|
|
— |
|
|
850 |
|
|
94 |
|
|
3,422 |
|
|
2,422 |
|
|
15,202 |
|
|
25 |
|
|
22,015 |
60-89 Days Past Due |
|
|
— |
|
|
— |
|
|
— |
|
|
202 |
|
|
57 |
|
|
1,464 |
|
|
118 |
|
|
1,841 |
90+ Days Past Due |
|
|
— |
|
|
281 |
|
|
869 |
|
|
433 |
|
|
356 |
|
|
2,458 |
|
|
52 |
|
|
4,449 |
Nonaccrual |
|
|
— |
|
|
239 |
|
|
654 |
|
|
1,160 |
|
|
6,086 |
|
|
15,955 |
|
|
332 |
|
|
24,426 |
Total Residential 1-4 Family – Consumer |
|
$ |
67,916 |
|
$ |
329,246 |
|
$ |
195,020 |
|
$ |
198,298 |
|
$ |
691,937 |
|
$ |
1,340,496 |
|
$ |
16,303 |
|
$ |
2,839,216 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(47) |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(47) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential 1-4 Family – Revolving |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
$ |
4,667 |
|
$ |
17,462 |
|
$ |
10,916 |
|
$ |
21,671 |
|
$ |
35,451 |
|
$ |
12,515 |
|
$ |
1,139,381 |
|
$ |
1,242,063 |
30-59 Days Past Due |
|
|
— |
|
|
— |
|
|
— |
|
|
80 |
|
|
157 |
|
|
94 |
|
|
3,763 |
|
|
4,094 |
60-89 Days Past Due |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
143 |
|
|
— |
|
|
1,075 |
|
|
1,218 |
90+ Days Past Due |
|
|
— |
|
|
— |
|
|
31 |
|
|
141 |
|
|
122 |
|
|
16 |
|
|
4,030 |
|
|
4,340 |
Nonaccrual |
|
|
— |
|
|
56 |
|
|
— |
|
|
127 |
|
|
84 |
|
|
32 |
|
|
5,065 |
|
|
5,364 |
Total Residential 1-4 Family – Revolving |
|
$ |
4,667 |
|
$ |
17,518 |
|
$ |
10,947 |
|
$ |
22,019 |
|
$ |
35,957 |
|
$ |
12,657 |
|
$ |
1,153,314 |
|
$ |
1,257,079 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(1) |
|
$ |
(1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Auto |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
$ |
575 |
|
$ |
1,808 |
|
$ |
1,557 |
|
$ |
32,053 |
|
$ |
76,952 |
|
$ |
40,521 |
|
$ |
— |
|
$ |
153,466 |
30-59 Days Past Due |
|
|
— |
|
|
13 |
|
|
— |
|
|
520 |
|
|
1,010 |
|
|
669 |
|
|
— |
|
|
2,212 |
60-89 Days Past Due |
|
|
— |
|
|
— |
|
|
— |
|
|
25 |
|
|
226 |
|
|
160 |
|
|
— |
|
|
411 |
90+ Days Past Due |
|
|
— |
|
|
— |
|
|
— |
|
|
66 |
|
|
86 |
|
|
87 |
|
|
— |
|
|
239 |
Nonaccrual |
|
|
— |
|
|
29 |
|
|
— |
|
|
87 |
|
|
253 |
|
|
146 |
|
|
— |
|
|
515 |
Total Auto |
|
$ |
575 |
|
$ |
1,850 |
|
$ |
1,557 |
|
$ |
32,751 |
|
$ |
78,527 |
|
$ |
41,583 |
|
$ |
— |
|
$ |
156,843 |
Current period gross write-off |
|
$ |
— |
|
$ |
(12) |
|
$ |
— |
|
$ |
(80) |
|
$ |
(182) |
|
$ |
(129) |
|
$ |
— |
|
$ |
(403) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
$ |
3,871 |
|
$ |
12,523 |
|
$ |
7,130 |
|
$ |
4,069 |
|
$ |
4,814 |
|
$ |
29,296 |
|
$ |
47,369 |
|
$ |
109,072 |
30-59 Days Past Due |
|
|
— |
|
|
75 |
|
|
22 |
|
|
7 |
|
|
18 |
|
|
103 |
|
|
43 |
|
|
268 |
60-89 Days Past Due |
|
|
— |
|
|
14 |
|
|
20 |
|
|
31 |
|
|
2 |
|
|
262 |
|
|
4 |
|
|
333 |
90+ Days Past Due |
|
|
— |
|
|
18 |
|
|
— |
|
|
— |
|
|
49 |
|
|
— |
|
|
3 |
|
|
70 |
Nonaccrual |
|
|
— |
|
|
— |
|
|
2 |
|
|
— |
|
|
8 |
|
|
2 |
|
|
— |
|
|
12 |
Total Consumer |
|
$ |
3,871 |
|
$ |
12,630 |
|
$ |
7,174 |
|
$ |
4,107 |
|
$ |
4,891 |
|
$ |
29,663 |
|
$ |
47,419 |
|
$ |
109,755 |
Current period gross write-off |
|
$ |
— |
|
$ |
(27) |
|
$ |
(36) |
|
$ |
(4) |
|
$ |
(4) |
|
$ |
(144) |
|
$ |
(37) |
|
$ |
(252) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Consumer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
$ |
77,029 |
|
$ |
359,669 |
|
$ |
213,006 |
|
$ |
250,874 |
|
$ |
800,233 |
|
$ |
1,387,749 |
|
$ |
1,202,526 |
|
$ |
4,291,086 |
30-59 Days Past Due |
|
|
— |
|
|
938 |
|
|
116 |
|
|
4,029 |
|
|
3,607 |
|
|
16,068 |
|
|
3,831 |
|
|
28,589 |
60-89 Days Past Due |
|
|
— |
|
|
14 |
|
|
20 |
|
|
258 |
|
|
428 |
|
|
1,886 |
|
|
1,197 |
|
|
3,803 |
90+ Days Past Due |
|
|
— |
|
|
299 |
|
|
900 |
|
|
640 |
|
|
613 |
|
|
2,561 |
|
|
4,085 |
|
|
9,098 |
Nonaccrual |
|
|
— |
|
|
324 |
|
|
656 |
|
|
1,374 |
|
|
6,431 |
|
|
16,135 |
|
|
5,397 |
|
|
30,317 |
Total Consumer |
|
$ |
77,029 |
|
$ |
361,244 |
|
$ |
214,698 |
|
$ |
257,175 |
|
$ |
811,312 |
|
$ |
1,424,399 |
|
$ |
1,217,036 |
|
$ |
4,362,893 |
Total current period gross write-off |
|
$ |
— |
|
$ |
(39) |
|
$ |
(36) |
|
$ |
(131) |
|
$ |
(186) |
|
$ |
(273) |
|
$ |
(38) |
|
$ |
(703) |
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):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
|
|
Term Loans Amortized Cost Basis by Origination Year |
|
Revolving |
|
|
|
|
|
2025 |
|
2024 |
|
2023 |
|
2022 |
|
2021 |
|
Prior |
|
Loans |
|
Total |
Residential 1-4 Family – Consumer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
$ |
334,528 |
|
$ |
195,624 |
|
$ |
203,804 |
|
$ |
688,989 |
|
$ |
596,987 |
|
$ |
736,230 |
|
$ |
16,628 |
|
$ |
2,772,790 |
30-59 Days Past Due |
|
|
393 |
|
|
77 |
|
|
2,773 |
|
|
2,865 |
|
|
1,600 |
|
|
10,029 |
|
|
174 |
|
|
17,911 |
60-89 Days Past Due |
|
|
525 |
|
|
700 |
|
|
124 |
|
|
2,186 |
|
|
336 |
|
|
1,757 |
|
|
— |
|
|
5,628 |
90+ Days Past Due |
|
|
— |
|
|
452 |
|
|
309 |
|
|
376 |
|
|
937 |
|
|
3,503 |
|
|
56 |
|
|
5,633 |
Nonaccrual |
|
|
— |
|
|
180 |
|
|
1,146 |
|
|
5,233 |
|
|
3,501 |
|
|
12,690 |
|
|
547 |
|
|
23,297 |
Total Residential 1-4 Family – Consumer |
|
$ |
335,446 |
|
$ |
197,033 |
|
$ |
208,156 |
|
$ |
699,649 |
|
$ |
603,361 |
|
$ |
764,209 |
|
$ |
17,405 |
|
$ |
2,825,259 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(122) |
|
$ |
— |
|
$ |
(53) |
|
$ |
— |
|
$ |
(175) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential 1-4 Family – Revolving |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
$ |
19,309 |
|
$ |
12,011 |
|
$ |
23,625 |
|
$ |
37,365 |
|
$ |
8,604 |
|
$ |
4,873 |
|
$ |
1,127,245 |
|
$ |
1,233,032 |
30-59 Days Past Due |
|
|
— |
|
|
21 |
|
|
110 |
|
|
104 |
|
|
— |
|
|
43 |
|
|
3,716 |
|
|
3,994 |
60-89 Days Past Due |
|
|
— |
|
|
11 |
|
|
47 |
|
|
123 |
|
|
— |
|
|
— |
|
|
1,976 |
|
|
2,157 |
90+ Days Past Due |
|
|
— |
|
|
— |
|
|
273 |
|
|
— |
|
|
— |
|
|
18 |
|
|
3,167 |
|
|
3,458 |
Nonaccrual |
|
|
59 |
|
|
— |
|
|
129 |
|
|
91 |
|
|
— |
|
|
37 |
|
|
5,327 |
|
|
5,643 |
Total Residential 1-4 Family – Revolving |
|
$ |
19,368 |
|
$ |
12,043 |
|
$ |
24,184 |
|
$ |
37,683 |
|
$ |
8,604 |
|
$ |
4,971 |
|
$ |
1,141,431 |
|
$ |
1,248,284 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(375) |
|
$ |
(375) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Auto |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
$ |
1,987 |
|
$ |
1,770 |
|
$ |
36,214 |
|
$ |
88,117 |
|
$ |
36,540 |
|
$ |
13,987 |
|
$ |
— |
|
$ |
178,615 |
30-59 Days Past Due |
|
|
52 |
|
|
— |
|
|
635 |
|
|
1,624 |
|
|
737 |
|
|
284 |
|
|
— |
|
|
3,332 |
60-89 Days Past Due |
|
|
— |
|
|
— |
|
|
113 |
|
|
431 |
|
|
166 |
|
|
87 |
|
|
— |
|
|
797 |
90+ Days Past Due |
|
|
— |
|
|
— |
|
|
57 |
|
|
221 |
|
|
74 |
|
|
52 |
|
|
— |
|
|
404 |
Nonaccrual |
|
|
— |
|
|
— |
|
|
122 |
|
|
257 |
|
|
147 |
|
|
46 |
|
|
— |
|
|
572 |
Total Auto |
|
$ |
2,039 |
|
$ |
1,770 |
|
$ |
37,141 |
|
$ |
90,650 |
|
$ |
37,664 |
|
$ |
14,456 |
|
$ |
— |
|
$ |
183,720 |
Current period gross write-off |
|
$ |
(146) |
|
$ |
— |
|
$ |
(284) |
|
$ |
(886) |
|
$ |
(246) |
|
$ |
(181) |
|
$ |
— |
|
$ |
(1,743) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
$ |
14,244 |
|
$ |
8,307 |
|
$ |
4,691 |
|
$ |
5,986 |
|
$ |
4,856 |
|
$ |
25,883 |
|
$ |
56,839 |
|
$ |
120,806 |
30-59 Days Past Due |
|
|
14 |
|
|
28 |
|
|
11 |
|
|
30 |
|
|
2 |
|
|
309 |
|
|
50 |
|
|
444 |
60-89 Days Past Due |
|
|
30 |
|
|
25 |
|
|
19 |
|
|
21 |
|
|
1 |
|
|
69 |
|
|
6 |
|
|
171 |
90+ Days Past Due |
|
|
4 |
|
|
16 |
|
|
1 |
|
|
16 |
|
|
— |
|
|
8 |
|
|
10 |
|
|
55 |
Nonaccrual |
|
|
— |
|
|
2 |
|
|
— |
|
|
8 |
|
|
2 |
|
|
— |
|
|
— |
|
|
12 |
Total Consumer |
|
$ |
14,292 |
|
$ |
8,378 |
|
$ |
4,722 |
|
$ |
6,061 |
|
$ |
4,861 |
|
$ |
26,269 |
|
$ |
56,905 |
|
$ |
121,488 |
Current period gross write-off |
|
$ |
(10) |
|
$ |
(248) |
|
$ |
(262) |
|
$ |
(50) |
|
$ |
(37) |
|
$ |
(786) |
|
$ |
(179) |
|
$ |
(1,572) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Consumer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
$ |
370,068 |
|
$ |
217,712 |
|
$ |
268,334 |
|
$ |
820,457 |
|
$ |
646,987 |
|
$ |
780,973 |
|
$ |
1,200,712 |
|
$ |
4,305,243 |
30-59 Days Past Due |
|
|
459 |
|
|
126 |
|
|
3,529 |
|
|
4,623 |
|
|
2,339 |
|
|
10,665 |
|
|
3,940 |
|
|
25,681 |
60-89 Days Past Due |
|
|
555 |
|
|
736 |
|
|
303 |
|
|
2,761 |
|
|
503 |
|
|
1,913 |
|
|
1,982 |
|
|
8,753 |
90+ Days Past Due |
|
|
4 |
|
|
468 |
|
|
640 |
|
|
613 |
|
|
1,011 |
|
|
3,581 |
|
|
3,233 |
|
|
9,550 |
Nonaccrual |
|
|
59 |
|
|
182 |
|
|
1,397 |
|
|
5,589 |
|
|
3,650 |
|
|
12,773 |
|
|
5,874 |
|
|
29,524 |
Total Consumer |
|
$ |
371,145 |
|
$ |
219,224 |
|
$ |
274,203 |
|
$ |
834,043 |
|
$ |
654,490 |
|
$ |
809,905 |
|
$ |
1,215,741 |
|
$ |
4,378,751 |
Total current period gross write-off |
|
$ |
(156) |
|
$ |
(248) |
|
$ |
(546) |
|
$ |
(1,058) |
|
$ |
(283) |
|
$ |
(1,020) |
|
$ |
(554) |
|
$ |
(3,865) |
As of March 31, 2026 and December 31, 2025, the Company did not have any material revolving loans convert to term.
|