| LOANS AND ALLOWANCE FOR LOAN AND LEASE LOSSES |
3. 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 consisted of the following as of the periods ended (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
March 31, 2024 |
|
December 31, 2023 |
Construction and Land Development |
|
|
$ |
1,246,251 |
|
$ |
1,107,850 |
Commercial Real Estate – Owner Occupied |
|
|
|
1,981,613 |
|
|
1,998,787 |
Commercial Real Estate – Non-Owner Occupied |
|
|
|
4,225,018 |
|
|
4,172,401 |
Multifamily Real Estate |
|
|
|
1,074,957 |
|
|
1,061,997 |
Commercial & Industrial |
|
|
|
3,561,971 |
|
|
3,589,347 |
Residential 1-4 Family – Commercial |
|
|
|
515,667 |
|
|
522,580 |
Residential 1-4 Family – Consumer |
|
|
|
1,081,094 |
|
|
1,078,173 |
Residential 1-4 Family – Revolving |
|
|
|
616,951 |
|
|
619,433 |
Auto |
|
|
|
440,118 |
|
|
486,926 |
Consumer |
|
|
|
113,414 |
|
|
120,641 |
Other Commercial |
|
|
|
994,574 |
|
|
876,908 |
Total LHFI, net of deferred fees and costs(1) |
|
|
|
15,851,628 |
|
|
15,635,043 |
Allowance for loan and lease losses |
|
|
|
(136,190) |
|
|
(132,182) |
Total LHFI, net |
|
|
$ |
15,715,438 |
|
$ |
15,502,861 |
(1) Total loans included unamortized premiums and discounts, and unamortized deferred fees and costs totaling $92.5 million and $79.7 million as of March 31, 2024 and December 31, 2023, respectively.
Accrued interest receivable on LHFI totaled $72.8 million and $72.5 million, respectively, at March 31, 2024 and December 31, 2023. Accrued interest receivable write-offs were not material to the Company’s consolidated financial statements for the three months ended March 31, 2024 and 2023.
The following table shows the aging of the Company’s LHFI portfolio by class at March 31, 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 |
|
$ |
1,242,478 |
|
$ |
2,163 |
|
$ |
1,097 |
|
$ |
171 |
|
$ |
342 |
|
$ |
1,246,251 |
|
Commercial Real Estate – Owner Occupied |
|
|
1,971,428 |
|
|
3,663 |
|
|
— |
|
|
3,634 |
|
|
2,888 |
|
|
1,981,613 |
|
Commercial Real Estate – Non-Owner Occupied |
|
|
4,210,657 |
|
|
2,271 |
|
|
558 |
|
|
1,197 |
|
|
10,335 |
|
|
4,225,018 |
|
Multifamily Real Estate |
|
|
1,074,813 |
|
|
— |
|
|
— |
|
|
144 |
|
|
— |
|
|
1,074,957 |
|
Commercial & Industrial |
|
|
3,547,743 |
|
|
5,540 |
|
|
348 |
|
|
1,860 |
|
|
6,480 |
|
|
3,561,971 |
|
Residential 1-4 Family – Commercial |
|
|
511,342 |
|
|
1,407 |
|
|
98 |
|
|
1,030 |
|
|
1,790 |
|
|
515,667 |
|
Residential 1-4 Family – Consumer |
|
|
1,062,189 |
|
|
6,070 |
|
|
204 |
|
|
1,641 |
|
|
10,990 |
|
|
1,081,094 |
|
Residential 1-4 Family – Revolving |
|
|
609,076 |
|
|
1,920 |
|
|
1,477 |
|
|
1,343 |
|
|
3,135 |
|
|
616,951 |
|
Auto |
|
|
435,883 |
|
|
3,192 |
|
|
330 |
|
|
284 |
|
|
429 |
|
|
440,118 |
|
Consumer |
|
|
112,658 |
|
|
418 |
|
|
197 |
|
|
141 |
|
|
— |
|
|
113,414 |
|
Other Commercial |
|
|
986,285 |
|
|
8,187 |
|
|
102 |
|
|
— |
|
|
— |
|
|
994,574 |
|
Total LHFI, net of deferred fees and costs |
|
$ |
15,764,552 |
|
$ |
34,831 |
|
$ |
4,411 |
|
$ |
11,445 |
|
$ |
36,389 |
|
$ |
15,851,628 |
|
% of total loans |
|
|
99.45 |
% |
|
0.22 |
% |
|
0.03 |
% |
|
0.07 |
% |
|
0.23 |
% |
|
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 |
|
Commercial Real Estate – Owner Occupied |
|
|
1,991,632 |
|
|
1,575 |
|
|
— |
|
|
2,579 |
|
|
3,001 |
|
|
1,998,787 |
|
Commercial Real Estate – 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):
|
|
|
|
|
|
|
|
|
|
|
March 31, |
|
December 31, |
|
|
|
2024 |
|
2023 |
Commercial Real Estate – Non-Owner Occupied |
|
|
$ |
8,003 |
|
$ |
4,835 |
Commercial & Industrial |
|
|
|
2,098 |
|
|
— |
Total LHFI |
|
|
$ |
10,101 |
|
$ |
4,835 |
There was no interest income recognized on nonaccrual loans during the three months ended March 31, 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.
TLMs for the quarter ended March 31, 2024 were not significant at approximately $36,000. The following table presents the amortized cost basis of TLMs for the quarter ended March 31, 2023 (dollars in thousands):
|
|
|
|
|
|
|
March 31, 2023 |
|
Amortized Cost |
|
% of Total Class of Financing Receivable |
|
Term Extension |
|
|
|
|
|
|
Construction and Land Development |
|
$ |
1,344 |
|
0.11 |
% |
Commercial Real Estate – Non-Owner Occupied |
|
|
18,792 |
|
0.47 |
% |
Residential 1-4 Family – Consumer |
|
|
168 |
|
0.02 |
% |
Total Term Extension |
|
$ |
20,304 |
|
|
|
Combination - Term Extension and Interest Rate Reduction |
|
|
|
|
|
|
Residential 1-4 Family – Consumer |
|
$ |
237 |
|
0.02 |
% |
Total Combination - Term Extension and Interest Rate Reduction |
|
$ |
237 |
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
20,541 |
|
|
|
The following table describes the financial effects of TLMs on a weighted average basis for TLMs within that loan type for the period ended:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, 2023 |
|
|
|
|
|
|
|
|
|
Term Extension |
Loan Type |
|
Financial Effect |
Construction and Land Development |
|
Added a weighted-average 0.5 years to the life of loans. |
Commercial Real Estate – Non-Owner Occupied |
|
Added a weighted-average 0.5 years to the life of loans. |
Residential 1-4 Family – Consumer |
|
Added a weighted-average 18.2 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 20.7 years to the life of loans and changed interest rate from variable to fixed rates, which reduced the weighted average contractual interest rate from 7.5% to7.4%. |
There was no material allowance on TLMs for the three months ended March 31, 2024 and 2023.
As of March 31, 2024 and 2023, unfunded commitments on loans modified and designated as TLMs were $1.1 million and $4.4 million, respectively.
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, 2024, the Company had three TLM loans for $1.0 million that went into default that had been designated as TLMs in the twelve-month period prior to the time of default. During the three months ended March 31, 2023, the Company did not have any significant loans either individually or in the aggregate that went into default that had been modified and designated as TLMs
The Company monitors the performance of TLMs in order to determine the effectiveness of the modifications. As of March 31, 2024, $3.4 million in loans that have been modified and designated as TLMs were past due. As of March 31, 2023, no loans that have been modified and designated as TLMs were past due.
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, Commercial Real Estate – Owner Occupied, Commercial Real Estate – 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 periods presented (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
March 31, 2024 |
|
|
Commercial |
|
Consumer |
|
Total |
Balance at beginning of period |
|
$ |
105,896 |
|
$ |
26,286 |
|
$ |
132,182 |
Loans charged-off |
|
|
(4,939) |
|
|
(955) |
|
|
(5,894) |
Recoveries credited to allowance |
|
|
533 |
|
|
444 |
|
|
977 |
Provision charged to operations |
|
|
9,038 |
|
|
(113) |
|
|
8,925 |
Balance at end of period |
|
$ |
110,528 |
|
$ |
25,662 |
|
$ |
136,190 |
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
March 31, 2023 |
|
|
Commercial |
|
Consumer |
|
Total |
Balance at beginning of period |
|
$ |
82,753 |
|
$ |
28,015 |
|
$ |
110,768 |
Loans charged-off |
|
|
(5,007) |
|
|
(719) |
|
|
(5,726) |
Recoveries credited to allowance |
|
|
515 |
|
|
652 |
|
|
1,167 |
Provision charged to operations |
|
|
9,825 |
|
|
478 |
|
|
10,303 |
Balance at end of period |
|
$ |
88,086 |
|
$ |
28,426 |
|
$ |
116,512 |
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.
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 for the period presented (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2024 |
|
|
|
Term Loans Amortized Cost Basis by Origination Year |
|
Revolving |
|
|
|
|
|
2024 |
|
2023 |
|
2022 |
|
2021 |
|
2020 |
|
Prior |
|
Loans |
|
Total |
Construction and Land Development |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
57,737 |
|
$ |
363,088 |
|
$ |
457,043 |
|
$ |
160,837 |
|
$ |
24,735 |
|
$ |
41,955 |
|
$ |
78,319 |
|
$ |
1,183,714 |
Watch |
|
|
— |
|
|
1,764 |
|
|
3,912 |
|
|
19,419 |
|
|
152 |
|
|
1,065 |
|
|
— |
|
|
26,312 |
Special Mention |
|
|
— |
|
|
65 |
|
|
1,898 |
|
|
4,375 |
|
|
1,332 |
|
|
3,247 |
|
|
— |
|
|
10,917 |
Substandard |
|
|
— |
|
|
1,290 |
|
|
1,245 |
|
|
899 |
|
|
20,646 |
|
|
1,228 |
|
|
— |
|
|
25,308 |
Total Construction and Land Development |
|
$ |
57,737 |
|
$ |
366,207 |
|
$ |
464,098 |
|
$ |
185,530 |
|
$ |
46,865 |
|
$ |
47,495 |
|
$ |
78,319 |
|
$ |
1,246,251 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Real Estate – Owner Occupied |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
23,705 |
|
$ |
188,641 |
|
$ |
252,826 |
|
$ |
185,331 |
|
$ |
226,092 |
|
$ |
973,171 |
|
$ |
27,960 |
|
$ |
1,877,726 |
Watch |
|
|
— |
|
|
567 |
|
|
645 |
|
|
965 |
|
|
4,454 |
|
|
39,732 |
|
|
169 |
|
|
46,532 |
Special Mention |
|
|
— |
|
|
6,979 |
|
|
1,495 |
|
|
248 |
|
|
448 |
|
|
17,141 |
|
|
1,024 |
|
|
27,335 |
Substandard |
|
|
— |
|
|
166 |
|
|
— |
|
|
— |
|
|
2,356 |
|
|
27,498 |
|
|
— |
|
|
30,020 |
Total Commercial Real Estate – Owner Occupied |
|
$ |
23,705 |
|
$ |
196,353 |
|
$ |
254,966 |
|
$ |
186,544 |
|
$ |
233,350 |
|
$ |
1,057,542 |
|
$ |
29,153 |
|
$ |
1,981,613 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Real Estate – Non-Owner Occupied |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
64,412 |
|
$ |
425,552 |
|
$ |
573,545 |
|
$ |
700,044 |
|
$ |
321,526 |
|
$ |
1,857,649 |
|
$ |
38,073 |
|
$ |
3,980,801 |
Watch |
|
|
— |
|
|
— |
|
|
1,506 |
|
|
1,690 |
|
|
— |
|
|
91,236 |
|
|
— |
|
|
94,432 |
Special Mention |
|
|
7 |
|
|
— |
|
|
— |
|
|
901 |
|
|
— |
|
|
48,543 |
|
|
12,756 |
|
|
62,207 |
Substandard |
|
|
— |
|
|
4,929 |
|
|
— |
|
|
2,098 |
|
|
14,428 |
|
|
66,123 |
|
|
— |
|
|
87,578 |
Total Commercial Real Estate – Non-Owner Occupied |
|
$ |
64,419 |
|
$ |
430,481 |
|
$ |
575,051 |
|
$ |
704,733 |
|
$ |
335,954 |
|
$ |
2,063,551 |
|
$ |
50,829 |
|
$ |
4,225,018 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(3,386) |
|
$ |
— |
|
$ |
— |
|
$ |
(3,386) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial & Industrial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
266,562 |
|
$ |
864,933 |
|
$ |
573,762 |
|
$ |
357,991 |
|
$ |
152,907 |
|
$ |
268,730 |
|
$ |
878,394 |
|
$ |
3,363,279 |
Watch |
|
|
— |
|
|
3,261 |
|
|
49,919 |
|
|
1,591 |
|
|
1,910 |
|
|
22,547 |
|
|
26,697 |
|
|
105,925 |
Special Mention |
|
|
52 |
|
|
105 |
|
|
23,214 |
|
|
282 |
|
|
336 |
|
|
3,336 |
|
|
21,376 |
|
|
48,701 |
Substandard |
|
|
— |
|
|
96 |
|
|
2,682 |
|
|
475 |
|
|
4,297 |
|
|
2,705 |
|
|
33,811 |
|
|
44,066 |
Total Commercial & Industrial |
|
$ |
266,614 |
|
$ |
868,395 |
|
$ |
649,577 |
|
$ |
360,339 |
|
$ |
159,450 |
|
$ |
297,318 |
|
$ |
960,278 |
|
$ |
3,561,971 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
(30) |
|
$ |
— |
|
$ |
(114) |
|
$ |
(7) |
|
$ |
(512) |
|
$ |
(663) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Multifamily Real Estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
3,268 |
|
$ |
21,729 |
|
$ |
129,418 |
|
$ |
342,949 |
|
$ |
220,749 |
|
$ |
286,990 |
|
$ |
51,382 |
|
$ |
1,056,485 |
Watch |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
110 |
|
|
— |
|
|
110 |
Special Mention |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
250 |
|
|
79 |
|
|
— |
|
|
329 |
Substandard |
|
|
— |
|
|
14,219 |
|
|
— |
|
|
— |
|
|
— |
|
|
3,814 |
|
|
— |
|
|
18,033 |
Total Multifamily Real Estate |
|
$ |
3,268 |
|
$ |
35,948 |
|
$ |
129,418 |
|
$ |
342,949 |
|
$ |
220,999 |
|
$ |
290,993 |
|
$ |
51,382 |
|
$ |
1,074,957 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential 1-4 Family – Commercial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
9,700 |
|
$ |
38,830 |
|
$ |
68,137 |
|
$ |
75,323 |
|
$ |
68,081 |
|
$ |
238,145 |
|
$ |
593 |
|
$ |
498,809 |
Watch |
|
|
— |
|
|
149 |
|
|
675 |
|
|
575 |
|
|
217 |
|
|
7,847 |
|
|
105 |
|
|
9,568 |
Special Mention |
|
|
— |
|
|
— |
|
|
— |
|
|
36 |
|
|
— |
|
|
1,455 |
|
|
— |
|
|
1,491 |
Substandard |
|
|
— |
|
|
154 |
|
|
— |
|
|
609 |
|
|
278 |
|
|
4,505 |
|
|
253 |
|
|
5,799 |
Total Residential 1-4 Family – Commercial |
|
$ |
9,700 |
|
$ |
39,133 |
|
$ |
68,812 |
|
$ |
76,543 |
|
$ |
68,576 |
|
$ |
251,952 |
|
$ |
951 |
|
$ |
515,667 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Commercial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
83,401 |
|
$ |
200,038 |
|
$ |
167,887 |
|
$ |
153,248 |
|
$ |
108,801 |
|
$ |
185,488 |
|
$ |
75,597 |
|
$ |
974,460 |
Watch |
|
|
— |
|
|
— |
|
|
7,064 |
|
|
7,485 |
|
|
29 |
|
|
4,205 |
|
|
— |
|
|
18,783 |
Special Mention |
|
|
— |
|
|
90 |
|
|
— |
|
|
— |
|
|
— |
|
|
617 |
|
|
99 |
|
|
806 |
Substandard |
|
|
— |
|
|
521 |
|
|
— |
|
|
— |
|
|
— |
|
|
4 |
|
|
— |
|
|
525 |
Total Other Commercial |
|
$ |
83,401 |
|
$ |
200,649 |
|
$ |
174,951 |
|
$ |
160,733 |
|
$ |
108,830 |
|
$ |
190,314 |
|
$ |
75,696 |
|
$ |
994,574 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(890) |
|
$ |
— |
|
$ |
(890) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Commercial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
508,785 |
|
$ |
2,102,811 |
|
$ |
2,222,618 |
|
$ |
1,975,723 |
|
$ |
1,122,891 |
|
$ |
3,852,128 |
|
$ |
1,150,318 |
|
$ |
12,935,274 |
Watch |
|
|
— |
|
|
5,741 |
|
|
63,721 |
|
|
31,725 |
|
|
6,762 |
|
|
166,742 |
|
|
26,971 |
|
|
301,662 |
Special Mention |
|
|
59 |
|
|
7,239 |
|
|
26,607 |
|
|
5,842 |
|
|
2,366 |
|
|
74,418 |
|
|
35,255 |
|
|
151,786 |
Substandard |
|
|
— |
|
|
21,375 |
|
|
3,927 |
|
|
4,081 |
|
|
42,005 |
|
|
105,877 |
|
|
34,064 |
|
|
211,329 |
Total Commercial |
|
$ |
508,844 |
|
$ |
2,137,166 |
|
$ |
2,316,873 |
|
$ |
2,017,371 |
|
$ |
1,174,024 |
|
$ |
4,199,165 |
|
$ |
1,246,608 |
|
$ |
13,600,051 |
Total current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
(30) |
|
$ |
— |
|
$ |
(3,500) |
|
$ |
(897) |
|
$ |
(512) |
|
$ |
(4,939) |
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 for the period presented (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 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) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Real Estate – 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 Commercial Real Estate – 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) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial Real Estate – 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 Commercial Real Estate – 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 for the period presented (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2024 |
|
|
|
Term Loans Amortized Cost Basis by Origination Year |
|
Revolving |
|
|
|
|
|
2024 |
|
2023 |
|
2022 |
|
2021 |
|
2020 |
|
Prior |
|
Loans |
|
Total |
Residential 1-4 Family – Consumer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
$ |
14,473 |
|
$ |
123,570 |
|
$ |
269,138 |
|
$ |
261,624 |
|
$ |
152,740 |
|
$ |
240,630 |
|
$ |
14 |
|
$ |
1,062,189 |
30-59 Days Past Due |
|
|
— |
|
|
328 |
|
|
1,849 |
|
|
393 |
|
|
— |
|
|
3,500 |
|
|
— |
|
|
6,070 |
60-89 Days Past Due |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
204 |
|
|
— |
|
|
204 |
90+ Days Past Due |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
104 |
|
|
1,537 |
|
|
— |
|
|
1,641 |
Nonaccrual |
|
|
— |
|
|
409 |
|
|
887 |
|
|
860 |
|
|
— |
|
|
8,834 |
|
|
— |
|
|
10,990 |
Total Residential 1-4 Family – Consumer |
|
$ |
14,473 |
|
$ |
124,307 |
|
$ |
271,874 |
|
$ |
262,877 |
|
$ |
152,844 |
|
$ |
254,705 |
|
$ |
14 |
|
$ |
1,081,094 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(19) |
|
$ |
— |
|
$ |
(19) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Residential 1-4 Family – Revolving |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
$ |
4,229 |
|
$ |
40,510 |
|
$ |
52,726 |
|
$ |
11,466 |
|
$ |
4,183 |
|
$ |
1,947 |
|
$ |
494,015 |
|
$ |
609,076 |
30-59 Days Past Due |
|
|
— |
|
|
180 |
|
|
70 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,670 |
|
|
1,920 |
60-89 Days Past Due |
|
|
— |
|
|
65 |
|
|
133 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,279 |
|
|
1,477 |
90+ Days Past Due |
|
|
— |
|
|
— |
|
|
70 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,273 |
|
|
1,343 |
Nonaccrual |
|
|
— |
|
|
— |
|
|
72 |
|
|
— |
|
|
49 |
|
|
— |
|
|
3,014 |
|
|
3,135 |
Total Residential 1-4 Family – Revolving |
|
$ |
4,229 |
|
$ |
40,755 |
|
$ |
53,071 |
|
$ |
11,466 |
|
$ |
4,232 |
|
$ |
1,947 |
|
$ |
501,251 |
|
$ |
616,951 |
Current period gross write-off |
|
$ |
— |
|
$ |
— |
|
$ |
— |
|
$ |
(27) |
|
$ |
— |
|
$ |
— |
|
$ |
(58) |
|
$ |
(85) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Auto |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
$ |
504 |
|
$ |
71,604 |
|
$ |
194,181 |
|
$ |
97,178 |
|
$ |
46,615 |
|
$ |
25,801 |
|
$ |
— |
|
$ |
435,883 |
30-59 Days Past Due |
|
|
— |
|
|
368 |
|
|
1,398 |
|
|
652 |
|
|
424 |
|
|
350 |
|
|
— |
|
|
3,192 |
60-89 Days Past Due |
|
|
— |
|
|
3 |
|
|
150 |
|
|
122 |
|
|
36 |
|
|
19 |
|
|
— |
|
|
330 |
90+ Days Past Due |
|
|
— |
|
|
19 |
|
|
149 |
|
|
52 |
|
|
— |
|
|
64 |
|
|
— |
|
|
284 |
Nonaccrual |
|
|
— |
|
|
40 |
|
|
159 |
|
|
131 |
|
|
49 |
|
|
50 |
|
|
— |
|
|
429 |
Total Auto |
|
$ |
504 |
|
$ |
72,034 |
|
$ |
196,037 |
|
$ |
98,135 |
|
$ |
47,124 |
|
$ |
26,284 |
|
$ |
— |
|
$ |
440,118 |
Current period gross write-off |
|
$ |
— |
|
$ |
(47) |
|
$ |
(192) |
|
$ |
(82) |
|
$ |
(38) |
|
$ |
(21) |
|
$ |
— |
|
$ |
(380) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
$ |
3,108 |
|
$ |
10,997 |
|
$ |
20,417 |
|
$ |
9,404 |
|
$ |
7,365 |
|
$ |
35,959 |
|
$ |
25,408 |
|
$ |
112,658 |
30-59 Days Past Due |
|
|
— |
|
|
46 |
|
|
101 |
|
|
67 |
|
|
18 |
|
|
153 |
|
|
33 |
|
|
418 |
60-89 Days Past Due |
|
|
— |
|
|
26 |
|
|
59 |
|
|
3 |
|
|
33 |
|
|
60 |
|
|
16 |
|
|
197 |
90+ Days Past Due |
|
|
— |
|
|
12 |
|
|
85 |
|
|
39 |
|
|
— |
|
|
3 |
|
|
2 |
|
|
141 |
Total Consumer |
|
$ |
3,108 |
|
$ |
11,081 |
|
$ |
20,662 |
|
$ |
9,513 |
|
$ |
7,416 |
|
$ |
36,175 |
|
$ |
25,459 |
|
$ |
113,414 |
Current period gross write-off |
|
$ |
— |
|
$ |
(84) |
|
$ |
(20) |
|
$ |
(13) |
|
$ |
(165) |
|
$ |
(167) |
|
$ |
(22) |
|
$ |
(471) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Consumer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
$ |
22,314 |
|
$ |
246,681 |
|
$ |
536,462 |
|
$ |
379,672 |
|
$ |
210,903 |
|
$ |
304,337 |
|
$ |
519,437 |
|
$ |
2,219,806 |
30-59 Days Past Due |
|
|
— |
|
|
922 |
|
|
3,418 |
|
|
1,112 |
|
|
442 |
|
|
4,003 |
|
|
1,703 |
|
|
11,600 |
60-89 Days Past Due |
|
|
— |
|
|
94 |
|
|
342 |
|
|
125 |
|
|
69 |
|
|
283 |
|
|
1,295 |
|
|
2,208 |
90+ Days Past Due |
|
|
— |
|
|
31 |
|
|
304 |
|
|
91 |
|
|
104 |
|
|
1,604 |
|
|
1,275 |
|
|
3,409 |
Nonaccrual |
|
|
— |
|
|
449 |
|
|
1,118 |
|
|
991 |
|
|
98 |
|
|
8,884 |
|
|
3,014 |
|
|
14,554 |
Total Consumer |
|
$ |
22,314 |
|
$ |
248,177 |
|
$ |
541,644 |
|
$ |
381,991 |
|
$ |
211,616 |
|
$ |
319,111 |
|
$ |
526,724 |
|
$ |
2,251,577 |
Total current period gross write-off |
|
$ |
— |
|
$ |
(131) |
|
$ |
(212) |
|
$ |
(122) |
|
$ |
(203) |
|
$ |
(207) |
|
$ |
(80) |
|
$ |
(955) |
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 for the period presented (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 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 March 31, 2024 and December 31, 2023 the Company did not have any significant revolving loans convert to term.
|