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Loans Held for Investment (Tables)

9 Months Ended

Sep. 30, 2022

Summary of loans held for investment by portfolio segment

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


	September 30,		December 31,
	2022		2021
Commercial real estate	$	3,313,911	$	3,042,729
Commercial and industrial ⁽¹⁾		1,668,209		1,875,420
Construction and land development		934,915		892,783
1-4 family residential		1,595,270		1,303,430
Consumer		29,439		32,349
Broker-dealer ⁽²⁾		402,502		733,193
		7,944,246		7,879,904
Allowance for credit losses		(91,783)		(91,352)
Total loans held for investment, net of allowance	$	7,852,463	$	7,788,552

(1)

Included loans totaling $1.1 million and $77.7 million at September 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
	September 30, 2022						December 31, 2021						Interest Income Recognized
	With		With No				With		With No				Three Months Ended September 30,				Nine Months Ended September 30,
	Allowance		Allowance		Total		Allowance		Allowance		Total		2022		2021		2022		2021
Commercial real estate:
Non-owner occupied	$	1,171	$	95	$	1,266	$	413	$	1,853	$	2,266	$	265	$	76	$	422	$	204
Owner occupied		3,469		—		3,469		3,058		1,277		4,335		88		345		505		574
Commercial and industrial		10,745		1,333		12,078		16,536		5,942		22,478		303		179		930		653
Construction and land development		1		—		1		2		—		2		7		13		22		48
1-4 family residential		724		12,124		12,848		902		17,306		18,208		561		796		2,286		2,837
Consumer		16		—		16		23		—		23		—		1		—		(120)
Broker-dealer		—		—		—		—		—		—		—		—		—		—
	$	16,126	$	13,552	$	29,678	$	20,934	$	26,378	$	47,312	$	1,224	$	1,410	$	4,165	$	4,196

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
September 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	$	—	$	—	$	234	$	234	$	1,953,997	$	1,954,231	$	—
Owner occupied		329		—		—		329		1,359,351		1,359,680		—
Commercial and industrial		3,597		8		8,329		11,934		1,656,275		1,668,209		—
Construction and land development		1		—		—		1		934,914		934,915		—
1-4 family residential		3,687		1,431		5,046		10,164		1,585,106		1,595,270		102
Consumer		147		7		16		170		29,269		29,439		—
Broker-dealer		—		—		—		—		402,502		402,502		—
	$	7,761	$	1,446	$	13,625	$	22,832	$	7,921,414	$	7,944,246	$	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
September 30, 2022	2022		2021		2020		2019		2018			Prior	Revolving		Total
Commercial real estate: non-owner occupied
Internal Grade 1-3 (Pass low risk)	$	47,140	$	76,592	$	20,521	$	8,044	$	4,779	$	8,142	$	1	$	165,219
Internal Grade 4-7 (Pass normal risk)		341,269		339,862		121,299		80,514		46,457		56,121		47,443		1,032,965
Internal Grade 8-11 (Pass high risk and watch)		82,184		138,346		182,165		82,786		67,328		83,882		11,821		648,512
Internal Grade 12 (Special mention)		—		—		—		—		—		—		—		—
Internal Grade 13 (Substandard accrual)		78,037		14,543		1,637		8,133		—		3,546		373		106,269
Internal Grade 14 (Substandard non-accrual)		—		399		—		—		—		867		—		1,266
Commercial real estate: owner occupied
Internal Grade 1-3 (Pass low risk)	$	21,049	$	113,747	$	65,252	$	22,938	$	12,294	$	64,781	$	5,977	$	306,038
Internal Grade 4-7 (Pass normal risk)		162,232		189,775		87,189		81,957		88,019		61,081		15,966		686,219
Internal Grade 8-11 (Pass high risk and watch)		56,849		66,290		87,346		29,326		64,755		27,447		3,200		335,213
Internal Grade 12 (Special mention)		—		—		—		—		—		—		—		—
Internal Grade 13 (Substandard accrual)		4,143		430		6,042		2,847		3,425		11,854		—		28,741
Internal Grade 14 (Substandard non-accrual)		14		868		—		(4)		330		2,261		—		3,469
Commercial and industrial
Internal Grade 1-3 (Pass low risk)	$	29,353	$	27,282	$	26,549	$	6,945	$	1,994	$	2,313	$	50,244	$	144,680
Internal Grade 4-7 (Pass normal risk)		135,610		142,831		51,782		29,790		10,412		16,103		349,402		735,930
Internal Grade 8-11 (Pass high risk and watch)		88,284		67,652		53,440		18,638		3,141		7,918		274,261		513,334
Internal Grade 12 (Special mention)		86		—		—		453		—		—		2,654		3,193
Internal Grade 13 (Substandard accrual)		671		2,972		7,150		3,839		3,917		3,160		4,248		25,957
Internal Grade 14 (Substandard non-accrual)		308		85		7,882		—		3,500		303		—		12,078
Construction and land development
Internal Grade 1-3 (Pass low risk)	$	12,673	$	15,535	$	1,341	$	889	$	1,047	$	2,984	$	1	$	34,470
Internal Grade 4-7 (Pass normal risk)		272,658		210,391		63,325		13,191		3,252		1,947		48,263		613,027
Internal Grade 8-11 (Pass high risk and watch)		148,054		74,383		16,404		325		—		1,479		15,352		255,997
Internal Grade 12 (Special mention)		—		—		—		—		—		—		—		—
Internal Grade 13 (Substandard accrual)		1,019		—		—		—		—		5,262		—		6,281
Internal Grade 14 (Substandard non-accrual)		—		—		—		—		—		1		—		1
Construction and land development - individuals
FICO less than 620	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
FICO between 620 and 720		781		223		—		—		981		—		—		1,985
FICO greater than 720		14,969		3,933		54		—		—		—		—		18,956
Substandard non-accrual		—		—		—		—		—		—		—		—
Other ⁽¹⁾		4,198		—		—		—		—		—		—		4,198
1-4 family residential
FICO less than 620	$	1,184	$	733	$	779	$	541	$	3,538	$	21,699	$	266	$	28,740
FICO between 620 and 720		6,077		13,805		8,530		5,265		6,013		26,482		3,705		69,877
FICO greater than 720		334,135		806,223		109,048		46,361		29,057		48,786		3,171		1,376,781
Substandard non-accrual		—		—		(1)		—		260		12,589		—		12,848
Other ⁽¹⁾		78,521		18,571		1,616		2,403		577		4,082		1,254		107,024
Consumer
FICO less than 620	$	1,349	$	332	$	123	$	48	$	7	$	15	$	351	$	2,225
FICO between 620 and 720		3,226		1,736		575		453		35		378		1,923		8,326
FICO greater than 720		5,843		1,705		1,283		413		85		1		3,201		12,531
Substandard non-accrual		—		—		—		—		—		16		—		16
Other ⁽¹⁾		4,296		1,326		464		89		5		18		143		6,341

Total loans with credit quality measures	$	1,936,212	$	2,330,570	$	921,795	$	446,184	$	355,208	$	475,518	$	843,220	$	7,308,707
Commercial and industrial (mortgage warehouse lending)															$	223,028
Commercial and industrial (Paycheck Protection Program loans)															$	1,097
Commercial and industrial (loans accounted for at fair value)															$	8,912
Broker-Dealer (margin loans and correspondent receivables)															$	402,502
Total loans held for investment															$	7,944,246

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