Loans Held for Investment (Tables)

3 Months Ended

Mar. 31, 2025

Loans Held for Investment

Summary of loans held for investment by portfolio segment

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

	March 31,		December 31,
	2025		2024
Commercial real estate:
Non-owner occupied	$	1,938,960	$	1,921,691
Owner occupied		1,446,177		1,435,945
Commercial and industrial		1,499,982		1,541,940
Construction and land development		889,941		866,245
1-4 family residential		1,840,008		1,792,602
Consumer		27,486		28,410
Broker-dealer (1)		324,223		363,718
		7,966,777		7,950,551
Allowance for credit losses		(106,197)		(101,116)
Total loans held for investment, net of allowance	$	7,860,580	$	7,849,435

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

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
March 31, 2025	30-59 Days		60-89 Days		90 Days or More		Due Loans		Loans		Loans		90 Days or More
Commercial real estate:
Non-owner occupied	$	3,994	$	3,691	$	862	$	8,547	$	1,930,413	$	1,938,960	$	—
Owner occupied		6,352		927		3,956		11,235		1,434,942		1,446,177		—
Commercial and industrial		1,498		2,746		24,530		28,774		1,471,208		1,499,982		—
Construction and land development		6,955		111		2,600		9,666		880,275		889,941		—
1-4 family residential		9,342		1,415		5,865		16,622		1,823,386		1,840,008		—
Consumer		98		10		—		108		27,378		27,486		—
Broker-dealer		—		—		—		—		324,223		324,223		—
	$	28,239	$	8,900	$	37,813	$	74,952	$	7,891,825	$	7,966,777	$	—

													Accruing Loans
	Loans Past Due						Total Past		Current		Total		Past Due
December 31, 2024	30-59 Days		60-89 Days		90 Days or More		Due Loans		Loans		Loans		90 Days or More
Commercial real estate:
Non-owner occupied	$	1,095	$	361	$	5,012	$	6,468	$	1,915,223	$	1,921,691	$	—
Owner occupied		3,549		124		3,869		7,542		1,428,403		1,435,945		—
Commercial and industrial		2,488		7,179		23,101		32,768		1,509,172		1,541,940		43
Construction and land development		3,329		—		2,484		5,813		860,432		866,245		—
1-4 family residential		8,404		1,387		3,892		13,683		1,778,919		1,792,602		—
Consumer		174		1		—		175		28,235		28,410		—
Broker-dealer		—		—		—		—		363,718		363,718		—
	$	19,039	$	9,052	$	38,358	$	66,449	$	7,884,102	$	7,950,551	$	43

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
	March 31, 2025						December 31, 2024						Interest Income Recognized
	With		With No				With		With No				Three Months Ended March 31,
	Allowance		Allowance		Total		Allowance		Allowance		Total		2025		2024
Commercial real estate:
Non-owner occupied	$	376	$	3,865	$	4,241	$	396	$	6,770	$	7,166	$	54	$	1,194
Owner occupied		638		5,897		6,535		4,434		1,658		6,092		—		93
Commercial and industrial		42,147		9,840		51,987		29,914		29,111		59,025		107		102
Construction and land development		198		2,860		3,058		475		2,330		2,805		3		42
1-4 family residential		1,560		9,633		11,193		1,526		7,804		9,330		227		493
Consumer		—		—		—		—		—		—		—		—
Broker-dealer		—		—		—		—		—		—		—		—
	$	44,919	$	32,095	$	77,014	$	36,745	$	47,673	$	84,418	$	391	$	1,924

Schedule of amortized cost basis of the loans held for investment modified for borrowers experiencing financial difficulty

The following table presents the amortized cost basis of the loans held for investment modified for borrowers experiencing financial difficulty grouped by portfolio segment and type of modification granted during the periods presented (in thousands).

											Total
									Combination		Modifications as a
	Interest Rate		Term		Principal		Payment		Term Extension and		% of Portfolio
Three Months Ended March 31, 2025	Reduction		Extension		Forgiveness		Delay		Rate Reduction		Segment
Commercial real estate:
Non-owner occupied	$	—	$	2,255	$	—	$	—	$	—	0.1	%
Owner occupied		—		3,501		—		—		—	0.2	%
Commercial and industrial		—		865		—		—		437	0.1	%
Construction and land development		—		350		—		—		—	0.0	%
1-4 family residential		—		111		—		—		—	0.0	%
Consumer		—		—		—		—		—	—	%
Broker-dealer		—		—		—		—		—	—	%
Total	$	—	$	7,082	$	—	$	—	$	437	0.1	%

											Total
									Combination		Modifications as a
	Interest Rate		Term		Principal		Payment		Term Extension and		% of Portfolio
Three Months Ended March 31, 2024	Reduction		Extension		Forgiveness		Delay		Payment Delay		Segment
Commercial real estate:
Non-owner occupied	$	—	$	—	$	—	$	—	$	—	—	%
Owner occupied		—		491		—		3,882		—	0.3	%
Commercial and industrial		—		16,797		—		166		—	1.1	%
Construction and land development		—		223		—		1,729		—	0.2	%
1-4 family residential		—		—		—		—		—	—	%
Consumer		—		—		—		—		—	—	%
Broker-dealer		—		—		—		—		—	—	%
Total	$	—	$	17,511	$	—	$	5,777	$	—	0.3	%

Schedule of analysis of the aging of the Modified Loans

For those loans held for investment modified for borrowers experiencing financial difficulty during the last twelve months, the following table provides aging and non-accrual details grouped by portfolio segment (in thousands).

	Modified Loans Past Due						Total Modified		Modified
March 31, 2025	30-59 Days		60-89 Days		90 Days or More		Past Due Loans		Non-accrual Loans
Commercial real estate:
Non-owner occupied	$	—	$	—	$	—	$	—	$	344
Owner occupied		77		—		—		77		77
Commercial and industrial		256		2,393		1,303		3,952		25,945
Construction and land development		—		—		—		—		—
1-4 family residential		141		—		—		141		25
Consumer		—		—		—		—		—
Broker-dealer		—		—		—		—		—
Total	$	474	$	2,393	$	1,303	$	4,170	$	26,391

	Modified Loans Past Due						Total Modified		Modified
December 31, 2024	30-59 Days		60-89 Days		90 Days or More		Past Due Loans		Non-accrual Loans
Commercial real estate:
Non-owner occupied	$	—	$	361	$	—	$	361	$	361
Owner occupied		86		—		8		94		94
Commercial and industrial		752		—		—		752		31,686
Construction and land development		—		—		—		—		—
1-4 family residential		—		—		—		—		26
Consumer		—		—		—		—		—
Broker-dealer		—		—		—		—		—
Total	$	838	$	361	$	8	$	1,207	$	32,167

Schedule of financial effects of the loans held for investment modified for borrowers experiencing financial difficulty

The above tables that present aging and non-accrual details exclude $3.2 million and $1.7 million of commercial and industrial loans that were modified and subsequently charged-off during the three months ended March 31, 2025 and the year ended December 31, 2024, respectively.

The following tables present the financial effects of the loans held for investment modified for borrowers experiencing financial difficulty during the periods presented (in thousands).

	Three Months Ended March 31, 2025			Three Months Ended March 31, 2024
	Weighted-Average		Weighted-Average	Weighted-Average		Weighted-Average
	Interest Rate		Term Extension	Interest Rate		Term Extension
	Reduction		(in months)	Reduction		(in months)
Commercial real estate:
Non-owner occupied	—	%	11	—	%	—
Owner occupied	—	%	10	—	%	14
Commercial and industrial	1.3	%	17	—	%	11
Construction and land development	—	%	8	—	%	15
1-4 family residential	—	%	6	—	%	—
Consumer	—	%	—	—	%	—
Broker-dealer	—	%	—	—	%	—
Total	1.3	%	11	—	%	11

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														Loans
												2020 and			Converted to
March 31, 2025	2025		2024		2023		2022		2021			Prior	Revolving		Term Loans		Total
Commercial real estate: non-owner occupied
Internal Grade 1-3 (Pass low risk)	$	22,642	$	7,497	$	4,852	$	40,932	$	78,210	$	7,668	$	2	$	—	$	161,803
Internal Grade 4-7 (Pass normal risk)		61,018		273,552		79,410		212,658		266,511		131,579		9,965		15,793		1,050,486
Internal Grade 8-11 (Pass high risk and watch)		61,727		98,194		130,249		170,901		46,121		120,859		28,496		1,168		657,715
Internal Grade 12 (Special mention)		—		—		—		—		17,052		—		—		—		17,052
Internal Grade 13 (Substandard accrual)		—		16,952		1,874		7,502		20,774		561		—		—		47,663
Internal Grade 14 (Substandard non-accrual)		—		344		759		1,296		1,406		436		—		—		4,241
Current period gross charge-offs		—		918		—		—		—		—		—		—		918
Commercial real estate: owner occupied
Internal Grade 1-3 (Pass low risk)	$	8,332	$	31,271	$	32,385	$	12,331	$	20,550	$	64,082	$	7,783	$	11,922	$	188,656
Internal Grade 4-7 (Pass normal risk)		39,198		122,591		99,963		111,421		180,728		210,082		26,849		9,026		799,858
Internal Grade 8-11 (Pass high risk and watch)		19,142		61,418		38,448		94,182		54,619		110,317		10,947		505		389,578
Internal Grade 12 (Special mention)		—		2,459		934		19,558		—		—		—		—		22,951
Internal Grade 13 (Substandard accrual)		1,480		8,829		1,014		7,371		9,460		10,445		—		—		38,599
Internal Grade 14 (Substandard non-accrual)		—		1,242		—		423		583		4,287		—		—		6,535
Current period gross charge-offs		—		—		—		—		—		—		—		—		—
Commercial and industrial
Internal Grade 1-3 (Pass low risk)	$	6,014	$	38,840	$	9,926	$	7,929	$	12,808	$	3,075	$	26,580	$	—	$	105,172
Internal Grade 4-7 (Pass normal risk)		45,447		70,973		22,355		48,035		49,328		32,734		289,111		8,694		566,677
Internal Grade 8-11 (Pass high risk and watch)		35,676		112,705		47,415		43,080		32,720		16,415		194,869		4,148		487,028
Internal Grade 12 (Special mention)		—		32,264		28		—		—		1,295		216		—		33,803
Internal Grade 13 (Substandard accrual)		—		5,436		227		2,261		3,279		1,102		4,742		5,121		22,168
Internal Grade 14 (Substandard non-accrual)		—		11,529		7,629		7,217		1,689		147		2,107		21,669		51,987
Current period gross charge-offs		—		117		156		—		—		—		2,079		1,080		3,432
Construction and land development
Internal Grade 1-3 (Pass low risk)	$	3,433	$	4,044	$	—	$	2,676	$	834	$	113	$	—	$	—	$	11,100
Internal Grade 4-7 (Pass normal risk)		52,046		193,589		148,944		64,818		8,405		7,595		8,089		—		483,486
Internal Grade 8-11 (Pass high risk and watch)		42,110		178,509		106,291		24,125		5,702		3,304		5,413		—		365,454
Internal Grade 12 (Special mention)		—		—		—		—		—		—		—		—		—
Internal Grade 13 (Substandard accrual)		1,546		8,771		1,343		149		—		—		—		—		11,809
Internal Grade 14 (Substandard non-accrual)		—		1,451		1,528		82		—		(3)		—		—		3,058
Current period gross charge-offs		—		—		—		—		—		—		—		—		—
Construction and land development - individuals
FICO less than 620	$	(2)	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	(2)
FICO between 620 and 720		6		992		—		—		—		806		—		—		1,804
FICO greater than 720		871		11,986		—		—		117		46		—		—		13,020
Substandard non-accrual		—		—		—		—		—		—		—		—		—
Other (1)		—		212		—		—		—		—		—		—		212
Current period gross charge-offs		—		—		—		—		—		—		—		—		—
1-4 family residential
FICO less than 620	$	111	$	2,889	$	617	$	1,132	$	436	$	18,023	$	193	$	—	$	23,401
FICO between 620 and 720		7,591		35,144		23,155		14,497		12,018		30,000		2,554		471		125,430
FICO greater than 720		39,278		156,395		112,309		472,493		649,339		140,310		2,701		417		1,573,242
Substandard non-accrual		—		901		1,104		391		1,091		7,706		—		—		11,193
Other (1)		25,217		38,394		12,867		5,146		—		4,151		759		20,208		106,742
Current period gross charge-offs		—		—		—		—		—		—		—		—		—
Consumer
FICO less than 620	$	250	$	1,126	$	107	$	170	$	17	$	44	$	365	$	8	$	2,087
FICO between 620 and 720		1,513		1,608		880		669		79		64		2,129		20		6,962
FICO greater than 720		962		2,382		1,576		1,191		361		79		3,009		12		9,572
Substandard non-accrual		—		—		—		—		—		—		—		—		—
Other (1)		3,422		4,498		299		305		80		10		251		—		8,865
Current period gross charge-offs		—		47		—		8		—		—		3		9		67
Total loans with credit quality measures	$	479,030	$	1,538,987	$	888,488	$	1,374,941	$	1,474,317	$	927,332	$	627,130	$	99,182	$	7,409,407
Commercial and industrial (mortgage warehouse lending)																	$	233,147
Broker-dealer (margin loans and correspondent receivables)																	$	324,223
Total loans held for investment																	$	7,966,777

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