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Allowance for Credit Losses on Loans (Tables)
12 Months Ended
Dec. 31, 2023
Allowance for Credit Loss [Abstract]  
Summary of Changes in Allowance for Loan Losses and Allowance and Loans Individually and Collectively Evaluated for Impairment
A summary of changes in the allowance for credit losses, by portfolio type, for the years ended December 31, 2023 and 2022 are as follows:

 For the Year ended December 31,
 2023
(in thousands)Beginning Allowance (12/31/2022)ASC 326 Adoption Day 1 AdjustmentCharge-offsRecoveriesProvisionEnding Allowance (12/31/2023)
Real Estate:     
Construction & land development$1,232 $1,891 $— $$2,715 $5,845 
Farmland83 (39)— — (8)36 
1- 4 family1,761 3,465 (964)93 2,298 6,653 
Multifamily746 1,418 — — (550)1,614 
Non-farm non-residential9,280 307 (138)230 917 10,596 
Total Real Estate13,102 7,042 (1,102)330 5,372 24,744 
Non-Real Estate:     
Agricultural240 (98)— 414 (459)97 
Commercial and industrial2,194 2,971 (1,694)205 (965)2,711 
Commercial leases4,879 (162)— — (2,769)1,948 
Consumer and other2,506 (1,042)(2,975)426 2,511 1,426 
Unallocated597 (591)— — (6)— 
Total Non-Real Estate10,416 1,078 (4,669)1,045 (1,688)6,182 
Total$23,518 $8,120 $(5,771)$1,375 $3,684 $30,926 

For the Year ended December 31,
2022
(in thousands)Beginning Allowance (12/31/2021)Charge-offsRecoveriesProvisionEnding Allowance (12/31/2022)
Real Estate:
Construction & land development$769 $(65)$340 $188 $1,232 
Farmland478 — — (395)83 
1- 4 family1,921 (94)76 (142)1,761 
Multifamily940 — 452 (646)746 
Non-farm non-residential12,730 (603)349 (3,196)9,280 
Total Real Estate16,838 (762)1,217 (4,191)13,102 
Non-Real Estate:
Agricultural183 (460)133 384 240 
Commercial and industrial2,363 (563)91 303 2,194 
Commercial leases2,486 (150)2,538 4,879 
Consumer and other1,371 (4,151)473 4,813 2,506 
Unallocated788 — — (191)597 
Total Non-Real Estate7,191 (5,324)702 7,847 10,416 
Total$24,029 $(6,086)$1,919 $3,656 $23,518 
A summary of the allowance along with loans and leases individually and collectively evaluated are as follows:

 As of December 31, 2023
(in thousands)Allowance
Individually
Evaluated
Allowance
Collectively Evaluated
Total Allowance
for Credit Losses
Loans
Individually
Evaluated
Loans
Collectively
Evaluated
Total Loans
before
Unearned Income
Real Estate:      
Construction & land development$— $5,845 $5,845 $1,389 $398,046 $399,435 
Farmland— 36 36 5,670 26,860 32,530 
1- 4 family316 6,337 6,653 5,066 439,784 444,850 
Multifamily— 1,614 1,614 537 118,384 118,921 
Non-farm non-residential3,047 7,549 10,596 46,571 999,294 1,045,865 
Total Real Estate3,363 21,381 24,744 59,233 1,982,368 2,041,601 
Non-Real Estate:      
Agricultural96 97 1,466 39,542 41,008 
Commercial and industrial758 1,953 2,711 4,464 330,508 334,972 
Commercial leases— 1,948 1,948 1,799 283,616 285,415 
Consumer and other— 1,426 1,426 — 54,485 54,485 
Unallocated— — — — — — 
Total Non-Real Estate759 5,423 6,182 7,729 708,151 715,880 
Total$4,122 $26,804 $30,926 $66,962 $2,690,519 $2,757,481 
Unearned Income     (8,773)
Total Loans Net of Unearned Income     $2,748,708 
All loans individually evaluated for impairment as of December 31, 2023 were considered collateral dependent loans.

 As of December 31, 2022
(in thousands)Allowance
Individually
Evaluated
for Impairment
Allowance Individually Evaluated for Purchased Credit-ImpairmentAllowance
Collectively
Evaluated
for Impairment
Total Allowance
for Credit Losses
Loans
Individually
Evaluated
for Impairment
Loans Individually Evaluated for Purchased Credit-ImpairmentLoans
Collectively
Evaluated
for Impairment
Total Loans
before
Unearned Income
Real Estate:      
Construction & land development$— $— $1,232 $1,232 $68 $301 $232,722 $233,091 
Farmland— — 83 83 4,240 — 20,583 24,823 
1- 4 family— — 1,761 1,761 949 1,311 364,070 366,330 
Multifamily— — 746 746 — — 119,785 119,785 
Non-farm non-residential666 512 8,102 9,280 4,095 1,904 986,930 992,929 
Total Real Estate666 512 11,924 13,102 9,352 3,516 1,724,090 1,736,958 
Non-Real Estate:      
Agricultural— — 240 240 2,366 — 36,679 39,045 
Commercial and industrial412 212 1,570 2,194 5,919 742 378,618 385,279 
Commercial leases1,799 — 3,080 4,879 1,799 — 315,775 317,574 
Consumer and other— — 2,506 2,506 — — 47,864 47,864 
Unallocated— — 597 597 — — — — 
Total Non-Real Estate2,211 212 7,993 10,416 10,084 742 778,936 789,762 
Total$2,877 $724 $19,917 $23,518 $19,436 $4,258 $2,503,026 $2,526,720 
Unearned Income     (7,643)
Total Loans Net of Unearned Income     $2,519,077 
Summary of Impaired Loans, Excluding Loans Acquired with Deteriorated Credit Quality, by Class
The following is a summary of impaired loans, excluding loans acquired with deteriorated credit quality, by class as of the date indicated:

 As of December 31, 2022
(in thousands)Recorded
Investment
Unpaid
Principal Balance
Related
Allowance
Average
Recorded Investment
Interest Income
Recognized
Impaired Loans with no related allowance:     
Real Estate:     
Construction & land development$68 $68 $— $68 $— 
Farmland4,240 4,240 — 4,242 51 
1- 4 family949 949 — 949 
Multifamily— — — — — 
Non-farm non-residential1,814 1,814 — 1,817 56 
Total Real Estate7,071 7,071  7,076 112 
Non-Real Estate:     
Agricultural2,366 2,521 — 2,366 
Commercial and industrial4,871 4,988 — 4,988 33 
Commercial leases— — — — — 
Consumer and other— — — — — 
Total Non-Real Estate7,237 7,509  7,354 40 
Total Impaired Loans with no related allowance14,308 14,580  14,430 152 
Impaired Loans with an allowance recorded:     
Real estate:     
Construction & land development— — — — — 
Farmland— — — — — 
1- 4 family— — — — — 
Multifamily— — — — — 
Non-farm non-residential2,281 2,855 666 2,279 
Total Real Estate2,281 2,855 666 2,279 5 
Non-Real Estate:     
Agricultural— — — — — 
Commercial and industrial1,048 1,048 412 1,112 35 
Commercial leases1,799 1,812 1,799 1,817 27 
Consumer and other— — — — — 
Total Non-Real Estate2,847 2,860 2,211 2,929 62 
Total Impaired Loans with an allowance recorded5,128 5,715 2,877 5,208 67 
Total Impaired Loans$19,436 $20,295 $2,877 $19,638 $219