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Loans Held for Investment (Tables)

6 Months Ended

Jun. 30, 2022

Summary of loans held for investment by portfolio segment

Loans held for investment summarized by portfolio segment are as follows (in thousands).


	June 30,		December 31,
	2022		2021
Commercial real estate	$	3,262,628	$	3,042,729
Commercial and industrial ⁽¹⁾		1,786,116		1,875,420
Construction and land development		922,047		892,783
1-4 family residential		1,468,962		1,303,430
Consumer		27,862		32,349
Broker-dealer ⁽²⁾		463,004		733,193
		7,930,619		7,879,904
Allowance for credit losses		(95,298)		(91,352)
Total loans held for investment, net of allowance	$	7,835,321	$	7,788,552

(1)

Included loans totaling $7.0 million and $77.7 million at June 30, 2022 and December 31, 2021, respectively, funded through the Paycheck Protection Program.

(2)

Primarily represents margin loans to customers and correspondents associated with broker-dealer segment operations.

Summary of non-accrual loans by portfolio segment

The following table provides details associated with non-accrual loans, excluding those classified as held for sale (in thousands).


	Non-accrual Loans
	June 30, 2022						December 31, 2021						Interest Income Recognized
	With		With No				With		With No				Three Months Ended June 30,				Six Months Ended June 30,
	Allowance		Allowance		Total		Allowance		Allowance		Total		2022		2021		2022		2021
Commercial real estate:
Non-owner occupied	$	603	$	653	$	1,256	$	413	$	1,853	$	2,266	$	60	$	54	$	157	$	128
Owner occupied		3,084		607		3,691		3,058		1,277		4,335		334		139		417		229
Commercial and industrial		9,112		4,203		13,315		16,536		5,942		22,478		439		331		627		474
Construction and land development		1		—		1		2		—		2		8		20		15		35
1-4 family residential		531		12,831		13,362		902		17,306		18,208		1,304		1,106		1,725		2,030
Consumer		19		—		19		23		—		23		—		(121)		—		(121)
Broker-dealer		—		—		—		—		—		—		—		—		—		—
	$	13,350	$	18,294	$	31,644	$	20,934	$	26,378	$	47,312	$	2,145	$	1,529	$	2,941	$	2,775

Schedule of analysis of the aging of the entity's loan portfolio

An analysis of the aging of the Company’s loan portfolio is shown in the following tables (in thousands).


													Accruing Loans
	Loans Past Due						Total Past		Current		Total		Past Due
June 30, 2022	30-59 Days		60-89 Days		90 Days or More		Due Loans		Loans		Loans		90 Days or More
Commercial real estate:
Non-owner occupied	$	—	$	—	$	198	$	198	$	1,910,938	$	1,911,136	$	—
Owner occupied		3,020		36		83		3,139		1,348,353		1,351,492		—
Commercial and industrial		9,086		59		8,025		17,170		1,768,946		1,786,116		—
Construction and land development		4,288		116		—		4,404		917,643		922,047		—
1-4 family residential		4,709		1,551		5,876		12,136		1,456,826		1,468,962		102
Consumer		191		15		18		224		27,638		27,862		—
Broker-dealer		—		—		—		—		463,004		463,004		—
	$	21,294	$	1,777	$	14,200	$	37,271	$	7,893,348	$	7,930,619	$	102


													Accruing Loans
	Loans Past Due						Total Past		Current		Total		Past Due
December 31, 2021	30-59 Days		60-89 Days		90 Days or More		Due Loans		Loans		Loans		90 Days or More
Commercial real estate:
Non-owner occupied	$	117	$	—	$	1,173	$	1,290	$	1,728,409	$	1,729,699	$	—
Owner occupied		590		688		2,273		3,551		1,309,479		1,313,030		—
Commercial and industrial		1,059		277		13,640		14,976		1,860,444		1,875,420		1
Construction and land development		946		—		—		946		891,837		892,783		—
1-4 family residential		7,642		2,738		4,842		15,222		1,288,208		1,303,430		100
Consumer		123		22		22		167		32,182		32,349		—
Broker-dealer		—		—		—		—		733,193		733,193		—
	$	10,477	$	3,725	$	21,950	$	36,152	$	7,843,752	$	7,879,904	$	101

Schedule of internal risk grades of loans by class

The following table presents loans held for investment grouped by asset class and credit quality indicator, segregated by year of origination or renewal (in thousands).


	Amortized Cost Basis by Origination Year
												2017 and
June 30, 2022	2022		2021		2020		2019		2018			Prior	Revolving		Total
Commercial real estate: non-owner occupied
Internal Grade 1-3 (Pass low risk)	$	44,621	$	74,976	$	20,075	$	9,882	$	8,788	$	11,757	$	2	$	170,101
Internal Grade 4-7 (Pass normal risk)		284,152		296,372		143,410		115,193		41,986		80,885		28,181		990,179
Internal Grade 8-11 (Pass high risk and watch)		82,153		166,149		181,713		81,382		72,866		92,202		1,550		678,015
Internal Grade 12 (Special mention)		—		—		—		—		—		—		—		—
Internal Grade 13 (Substandard accrual)		37,929		14,659		4,093		8,222		25		6,657		—		71,585
Internal Grade 14 (Substandard non-accrual)		—		403		—		—		—		853		—		1,256
Commercial real estate: owner occupied
Internal Grade 1-3 (Pass low risk)	$	24,732	$	111,984	$	58,631	$	18,662	$	13,920	$	60,532	$	6,002	$	294,463
Internal Grade 4-7 (Pass normal risk)		128,192		178,018		96,688		88,070		93,945		73,876		13,760		672,549
Internal Grade 8-11 (Pass high risk and watch)		45,893		70,970		92,234		30,607		63,765		30,528		13,571		347,568
Internal Grade 12 (Special mention)		—		—		—		—		—		—		—		—
Internal Grade 13 (Substandard accrual)		4,185		487		6,090		3,029		6,246		13,184		—		33,221
Internal Grade 14 (Substandard non-accrual)		108		893		—		(4)		335		2,359		—		3,691
Commercial and industrial
Internal Grade 1-3 (Pass low risk)	$	17,214	$	29,527	$	28,377	$	23,373	$	2,385	$	2,819	$	41,940	$	145,635
Internal Grade 4-7 (Pass normal risk)		111,653		136,239		70,470		17,397		12,734		18,508		367,904		734,905
Internal Grade 8-11 (Pass high risk and watch)		53,684		81,940		53,889		20,382		3,850		5,998		268,569		488,312
Internal Grade 12 (Special mention)		92		—		—		—		—		—		—		92
Internal Grade 13 (Substandard accrual)		3,220		1,910		7,413		6,175		7,624		7,377		9,433		43,152
Internal Grade 14 (Substandard non-accrual)		241		1,442		11,094		—		229		309		—		13,315
Construction and land development
Internal Grade 1-3 (Pass low risk)	$	9,291	$	18,711	$	22,587	$	929	$	1,514	$	3,151	$	—	$	56,183
Internal Grade 4-7 (Pass normal risk)		172,579		283,798		51,938		15,522		3,381		2,208		60,345		589,771
Internal Grade 8-11 (Pass high risk and watch)		93,777		102,553		32,549		862		118		1,596		15,517		246,972
Internal Grade 12 (Special mention)		—		—		—		—		—		—		—		—
Internal Grade 13 (Substandard accrual)		—		1,328		—		23		—		5,276		—		6,627
Internal Grade 14 (Substandard non-accrual)		—		—		—		—		—		1		—		1
Construction and land development - individuals
FICO less than 620	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
FICO between 620 and 720		530		72		—		—		993		—		—		1,595
FICO greater than 720		11,714		5,822		55		—		—		—		—		17,591
Substandard non-accrual		—		—		—		—		—		—		—		—
Other ⁽¹⁾		3,133		174		—		—		—		—		—		3,307
1-4 family residential
FICO less than 620	$	204	$	814	$	784	$	834	$	3,561	$	23,679	$	253	$	30,129
FICO between 620 and 720		3,130		14,876		8,634		5,992		6,269		28,804		2,715		70,420
FICO greater than 720		194,965		816,610		111,904		48,471		30,196		54,972		3,279		1,260,397
Substandard non-accrual		—		—		(1)		—		266		13,097		—		13,362
Other ⁽¹⁾		54,621		28,516		3,146		2,503		583		4,705		580		94,654
Consumer
FICO less than 620	$	1,288	$	411	$	138	$	83	$	15	$	47	$	336	$	2,318
FICO between 620 and 720		2,824		2,020		670		573		44		401		1,809		8,341
FICO greater than 720		3,184		2,063		1,614		542		120		2		3,072		10,597
Substandard non-accrual		—		—		—		—		—		19		—		19
Other ⁽¹⁾		3,627		1,924		492		241		8		25		270		6,587

Total loans with credit quality measures	$	1,392,936	$	2,445,661	$	1,008,687	$	498,945	$	375,766	$	545,827	$	839,088	$	7,106,910
Commercial and industrial (mortgage warehouse lending)															$	344,662
Commercial and industrial (Paycheck Protection Program loans)															$	7,016
Commercial and industrial (loans accounted for at fair value)															$	9,027
Broker-Dealer (margin loans and correspondent receivables)															$	463,004
Total loans held for investment															$	7,930,619

(1) Loans classified in this category were assigned a FICO score for credit modeling purposes.