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Allowance for Loan Losses (Tables)
 12 Months Ended
Dec. 31, 2021
Receivables [Abstract]  
Schedule of allowance for loan losses
The analyses by loan segment of the changes in the ALL for the three years ended December 31, 2021 and its allocation by impairment methodology and the related investment in loans, net as of December 31, 2021, 2020 and 2019 are summarized in the following tables:
December 31, 2021
(in thousands)Real EstateCommercialFinancial
Institutions		Consumer
and Others		Total
Balances at beginning of the year$50,227 $48,130 $1 $12,544 $110,902 
Reversal of (provision for) loan losses(21,338)1,463 41 3,334 (16,500)
Loans charged-off
Domestic(11,062)(13,227)— (3,491)(27,780)
International— — — — — 
Recoveries125 2,613 — 539 3,277 
Balances at end of the year$17,952 $38,979 $42 $12,926 $69,899 
Allowance for loan losses by impairment methodology
Individually evaluated$546 $10,462 $— $783 $11,791 
Collectively evaluated17,406 28,517 42 12,143 58,108 
$17,952 $38,979 $42 $12,926 $69,899 
Investment in loans, net of unearned income
Individually evaluated$7,285 $39,785 $— $5,634 $52,704 
Collectively evaluated2,346,923 2,075,338 14,127 920,348 5,356,736 
$2,354,208 $2,115,123 $14,127 $925,982 $5,409,440 
December 31, 2020
(in thousands) Real Estate  Commercial  Financial
Institutions		 Consumer
and Others		 Total
Balances at beginning of the year$25,040 $22,482 $42 $4,659 $52,223 
Provision for (reversal of) loan losses25,187 55,197 (41)8,277 88,620 
Loans charged-off
Domestic— (29,958)— (600)(30,558)
International— (34)— (269)(303)
Recoveries— 443 — 477 920 
Balances at end of the year$50,227 $48,130 $1 $12,544 $110,902 
Allowance for loan losses by impairment methodology
Individually evaluated$3,175 $25,394 $— $1,379 $29,948 
Collectively evaluated47,052 22,736 1 11,165 80,954 
$50,227 $48,130 $1 $12,544 $110,902 
Investment in loans, net of unearned income
Individually evaluated$19,560 $60,130 $— $8,051 $87,741 
Collectively evaluated2,796,092 2,210,601 17,574 730,329 5,754,596 
$2,815,652 $2,270,731 $17,574 $738,380 $5,842,337 
December 31, 2019
(in thousands) Real Estate  Commercial  Financial
Institutions		 Consumer
and Others		 Total
Balances at beginning of the year$22,778 $30,018 $445 $8,521 $61,762 
Provision for (reversal of) loan losses2,072 (6,165)(403)1,346 (3,150)
Loans charged-off
Domestic— (3,020)— (724)(3,744)
International— (62)— (5,033)(5,095)
Recoveries190 1,711 — 549 2,450 
Balances at end of the year$25,040 $22,482 $42 $4,659 $52,223 
Allowance for loan losses by impairment methodology
Individually evaluated$1,161 $1,789 $— $1,324 $4,274 
Collectively evaluated23,879 20,693 42 3,335 47,949 
$25,040 $22,482 $42 $4,659 $52,223 
Investment in loans, net of unearned income
Individually evaluated$1,936 $22,790 $— $5,585 $30,311 
Collectively evaluated2,968,589 2,206,566 16,552 522,321 5,714,028 
$2,970,525 $2,229,356 $16,552 $527,906 $5,744,339 
The following is a summary of net proceeds from sales of loans held for investment by portfolio segment in the three years ended December 31, 2021:
(in thousands)Real EstateCommercialFinancial
Institutions		Consumer
and others		Total
2021$11,243 $102,247 $— $3,524 $117,014 
2020$— $65,386 $— $6,253 $71,639 
2019$23,475 $236,373 $— $7,917 $267,765 
Schedule of impaired loans The following is a summary of impaired loans as of December 31, 2021 and 2020:
December 31, 2021
 Recorded Investment
(in thousands) With a Valuation Allowance  Without a Valuation Allowance  Total Year Average  Total Unpaid Principal Balance Valuation AllowanceInterest Income Recognized
Real estate loans
Commercial real estate
Nonowner occupied$1,452 $5,833 $7,285 $23,185 $7,349 $546 $— 
Multi-family residential— — — 5,324 — — — 
Land development and construction
 loans		— — — — — — — 
1,452 5,833 7,285 28,509 7,349 546 — 
Single-family residential3,689 1,689 5,378 7,619 5,316 618 18 
Owner-occupied516 8,149 8,665 10,877 8,491 170 — 
5,657 15,671 21,328 47,005 21,156 1,334 18 
Commercial loans21,353 9,767 31,120 40,626 59,334 10,292 127 
Consumer loans and overdrafts256 — 256 268 256 165 — 
$27,266 $25,438 $52,704 $87,899 $80,746 $11,791 $145 
December 31, 2020
 Recorded Investment
(in thousands)With a Valuation AllowanceWithout a Valuation AllowanceTotalYear AverageTotal Unpaid Principal BalanceValuation AllowanceInterest Income Recognized
Real estate loans
Commercial real estate
Nonowner occupied$8,219 $— $8,219 $6,718 $8,227 $3,175 $— 
Multi-family residential— 11,341 11,341 3,206 11,306 — — 
Land development and construction
 loans		— — — — — — — 
8,219 11,341 19,560 9,924 19,533 3,175 — 
Single-family residential5,675 5,250 10,925 9,457 10,990 1,232 84 
Owner-occupied636 12,178 12,814 13,295 12,658 214 4 
14,530 28,769 43,299 32,676 43,181 4,621 88 
Commercial loans33,110 11,100 44,210 38,534 66,010 25,180 53 
Consumer loans and overdrafts232 — 232 221 229 147 — 
$47,872 $39,869 $87,741 $71,431 $109,420 $29,948 $141 
Schedule of troubled debt restructurings
The following table shows information about loans modified in TDRs as of December 31, 2021 and 2020:
As of December 31, 2021As of December 31, 2020
(in thousands)Number of ContractsRecorded InvestmentNumber of ContractsRecorded Investment
Real estate loans
Commercial real estate
Non-owner occupied1 $1,452 1 $1,729 
Single-family residential1 258 2 267 
Owner occupied4 6,213 4 6,784 
6 7,923 7 8,780 
Commercial loans11 5,005 11 3,851 
Total (1)
17 $12,928 18 $12,631 
_________________
(1)As of December 31, 2021 and 2020, include a multiple loan relationship with a South Florida customer consisting of CRE, owner occupied and commercial loans totaling $9.1 million and $8.4 million, respectively. This TDR consisted of extending repayment terms and adjusting future periodic payments which resulted in no additional reserves. As of December 31, 2021, this relationship included two residential loans totaling $1.4 million and one commercial loan of $0.8 million, which were not modified (four residential loans totaling $1.5 million which were not modified at December 31, 2020). During 2020, the company charged off $1.9 million against the ALL associated with this commercial loan relationship. The Company believes the specific reserves associated with these loans, which total $0.8 million and $1.0 million at December 31, 2021 and December 31, 2020, respectively, are adequate to cover probable losses given current facts and circumstances.
The following table shows information about loans that were modified and met the definition of TDR during the three years ended December 31, 2021:
202120202019
(in thousands, except number of contracts)Number of ContractsRecorded InvestmentNumber of ContractsRecorded InvestmentNumber of ContractsRecorded Investment
Real estate loans
Commercial real estate “CRE”
Nonowner occupied— $— — $— 1  $1,936 
Single-family residential— — — — 1  172 
Owner occupied— — 1 813 2  4,797 
— — 1 813 4  6,905 
Commercial loans2 891 9 3,187 1  2,669 
Consumer loans and overdrafts— — — — 1  357 
Total (1)
2 $891 10 $4,000 6  $9,931 
_________________
(1)During 2020, the Company charged off a total of approximately $1.9 million, against the ALL as a result of these TDR loans.There were no charge-offs against the ALL as a result of these TDRs during 2021 and 2019.
TDR loans that subsequently defaulted within the 12 months of restructuring during the three years ended December 31, 2021 were as follows:
202120202019
(in thousands, except number of contracts)Number of ContractsRecorded InvestmentNumber of ContractsRecorded InvestmentNumber of ContractsRecorded Investment
Real estate loans
Commercial real estate
Nonowner occupied — $— — $— 1 $1,936 
Owner-occupied — — 1 813 2 4,797 
— — 1 813 3 6,733 
Commercial loans— — 1 70 1 2,669 
Consumer loans and overdrafts— — — — 1 357 
Total (1)— $— 2 $883 5 $9,759 
_________________
(1)During the year ended December 31, 2021, there were no TDR loans that subsequently defaulted within the 12 months of restructuring.
Schedule of credit quality indicators The following is a summary of the master risk categories and their associated loan risk ratings, as well as a description of the general characteristics of the master risk category:
Loan Risk Rating
Master risk category
Nonclassified
4 to 10
Classified
1 to 3
Substandard3
Doubtful2
Loss1
Loans held for investment by credit quality indicators as of December 31, 2021 and 2020 are summarized in the following tables:
December 31, 2021
 Credit Risk Rating
 Nonclassified Classified
(in thousands)PassSpecial Mention Substandard  Doubtful  Loss  Total
Real estate loans
Commercial real estate
Nonowner occupied$1,499,100 $34,205 $5,890 $1,395 $— $1,540,590 
Multi-family residential514,679 — — — — 514,679 
 Land development and construction loans 327,246 — — — — 327,246 
2,341,025 34,205 5,890 1,395 — 2,382,515 
Single-family residential656,118 — 5,221 — — 661,339 
Owner occupied946,350 7,429 8,759 — — 962,538 
3,943,493 41,634 19,870 1,395 — 4,006,392 
Commercial loans903,400 32,452 20,324 9,497 — 965,673 
Loans to financial institutions and acceptances13,710 — — — — 13,710 
Consumer loans and overdrafts423,395 — 270 — — 423,665 
$5,283,998 $74,086 $40,464 $10,892 $— $5,409,440 
December 31, 2020
 Credit Risk Rating
 Nonclassified  Classified
(in thousands)PassSpecial MentionSubstandardDoubtfulLossTotal
Real estate loans
Commercial real estate
Nonowner occupied$1,694,004 $46,872 $4,994 $3,969 $— $1,749,839 
Multi-family residential726,356 — 11,340 — — 737,696 
Land development and construction loans342,636 7,164 — — — 349,800 
2,762,996 54,036 16,334 3,969 — 2,837,335 
Single-family residential628,902 — 10,667 — — 639,569 
Owner occupied911,867 22,343 12,917 — — 947,127 
4,303,765 76,379 39,918 3,969 — 4,424,031 
Commercial loans1,067,708 42,434 21,152 23,256 — 1,154,550 
Loans to financial institutions and acceptances16,636 — — — — 16,636 
Consumer loans and overdrafts246,882 — 238 — — 247,120 
$5,634,991 $118,813 $61,308 $27,225 $— $5,842,337 
Schedule of financing receivables, non accrual status
Single-family residential loans:
December 31,
(in thousands, except percentages)202120202019
Loan Balance%Loan Balance%Loan Balance%
Accrual Loans      
Current$655,270   99.09 %$626,468   97.95 %$526,497   97.67 %
30-59 Days Past Due531   0.08 %1,807   0.28 %4,332   0.80 %
60-89 Days Past Due412   0.06 %627   0.10 %982   0.18 %
90+ Days Past Due—   — %—   — %—   — %
943   0.14 %2,434   0.38 %5,314   0.98 %
Total Accrual Loans$656,213   99.23 %$628,902   98.33 %$531,811   98.65 %
Non-Accrual Loans      
Current$2,612   0.39 %$5,333   0.83 %$3,902   0.72 %
30-59 Days Past Due459   0.07 %1,336   0.21 %253   0.05 %
60-89 Days Past Due—   — %44   0.01 %266   0.05 %
90+ Days Past Due2,055   0.31 %3,954   0.62 %2,870   0.53 %
2,514   0.38 %5,334   0.84 %3,389   0.63 %
Total Non-Accrual Loans5,126   0.77 %10,667   1.67 %7,291   1.35 %
$661,339   100.00 %$639,569   100.00 %$539,102   100.00 %
Consumer loans and overdrafts:
December 31,
(in thousands, except percentages)202120202019
Loan Balance%Loan Balance%Loan Balance%
Accrual Loans      
Current$423,373   99.93 %$246,794   99.88 %$87,656   99.08 %
30-59 Days Past Due22   0.01 %85   0.03 %215   0.24 %
60-89 Days Past Due5   — %6   — %174   0.20 %
90+ Days Past Due8   — %2   — %5   0.01 %
35   0.01 %93   0.03 %394   0.45 %
Total Accrual Loans$423,408   99.94 %$246,887   99.91 %$88,050   99.53 %
Non-Accrual Loans      
Current$251   0.06 %$203   0.08 %$374   0.42 %
30-59 Days Past Due—   — %—   — %—   — %
60-89 Days Past Due2   — %—   — %2   — %
90+ Days Past Due4   — %30   0.01 %40   0.05 %
6   — %30   0.01 %42   0.05 %
Total Non-Accrual Loans257   0.06 %233   0.09 %416   0.47 %
$423,665   100.00 %$247,120   100.00 %$88,466   100.00 %