Allowance for Credit Losses (Tables)

9 Months Ended

Sep. 30, 2024

Allowance for Credit Losses

Loans individually or collectively evaluated for their impairment and related allowance, by loan class

	Three Months Ended September 30, 2024
	Domestic														Foreign
			Commercial
			Real Estate:
			Other		Commercial
			Construction &		Real Estate:		Commercial
			Land		Farmland &		Real Estate:		Residential:		Residential:
	Commercial		Development		Commercial		Multifamily		First Lien		Junior Lien		Consumer		Foreign		Total
	(Dollars in Thousands)
Balance at June 30, 2024	$	27,255	$	54,840	$	44,888	$	3,528	$	5,806	$	10,639	$	314	$	1,339	$	148,609
Losses charged to allowance		(2,329)		—		—		—		—		—		(42)		—		(2,371)
Recoveries credited to allowance		1,231		—		6		—		2		13		6		1		1,259
Net (losses) recoveries charged to allowance		(1,098)		—		6		—		2		13		(36)		1		(1,112)
Credit loss expense		3,723		5,182		(510)		4		214		(70)		14		45		8,602
Balance at September 30, 2024	$	29,880	$	60,022	$	44,384	$	3,532	$	6,022	$	10,582	$	292	$	1,385	$	156,099

	Three Months Ended September 30, 2023
	Domestic														Foreign
			Commercial
			Real Estate:
			Other		Commercial
			Construction &		Real Estate:		Commercial
			Land		Farmland &		Real Estate:		Residential:		Residential:
	Commercial		Development		Commercial		Multifamily		First Lien		Junior Lien		Consumer		Foreign		Total
	(Dollars in Thousands)
Balance at June 30, 2023	$	27,645	$	53,064	$	38,688	$	4,106	$	5,092	$	10,442	$	286	$	1,180	$	140,503
Losses charged to allowance		(2,373)		—		—		—		(43)		(118)		(35)		—		(2,569)
Recoveries credited to allowance		518		—		6		—		7		63		2		—		596
Net (losses) recoveries charged to allowance		(1,855)		—		6		—		(36)		(55)		(33)		—		(1,973)
Credit loss expense		8,063		(1,967)		3,190		422		481		206		45		36		10,476
Balance at September 30, 2023	$	33,853	$	51,097	$	41,884	$	4,528	$	5,537	$	10,593	$	298	$	1,216	$	149,006

	Nine Months Ended September 30, 2024
	Domestic														Foreign
			Commercial
			Real Estate:
			Other		Commercial
			Construction &		Real Estate:		Commercial
			Land		Farmland &		Real Estate:		Residential:		Residential:
	Commercial		Development		Commercial		Multifamily		First Lien		Junior Lien		Consumer		Foreign		Total
	(Dollars in Thousands)
Balance at December 31, 2023	$	35,550	$	55,291	$	42,703	$	5,088	$	5,812	$	11,024	$	318	$	1,283	$	157,069
Losses charged to allowance		(32,049)		(2,228)		—		—		(46)		—		(132)		—		(34,455)
Recoveries credited to allowance		3,020		—		16		—		38		48		11		1		3,134
Net (losses) recoveries charged to allowance		(29,029)		(2,228)		16		—		(8)		48		(121)		1		(31,321)
Credit loss expense		23,359		6,959		1,665		(1,556)		218		(490)		95		101		30,351
Balance at September 30, 2024	$	29,880	$	60,022	$	44,384	$	3,532	$	6,022	$	10,582	$	292	$	1,385	$	156,099

	Nine Months Ended September 30, 2023
	Domestic														Foreign
			Commercial
			Real Estate:
			Other		Commercial
			Construction &		Real Estate:		Commercial
			Land		Farmland &		Real Estate:		Residential:		Residential:
	Commercial		Development		Commercial		Multifamily		First Lien		Junior Lien		Consumer		Foreign		Total
	(Dollars in Thousands)
Balance at December 31, 2022	$	26,728	$	44,684	$	36,474	$	3,794	$	4,759	$	8,284	$	281	$	968	$	125,972
Losses charged to allowance		(7,136)		—		—		—		(43)		(283)		(122)		—		(7,584)
Recoveries credited to allowance		1,699		837		17		—		15		155		16		—		2,739
Net (losses) recoveries charged to allowance		(5,437)		837		17		—		(28)		(128)		(106)		—		(4,845)
Credit loss expense		12,562		5,576		5,393		734		806		2,437		123		248		27,879
Balance at September 30, 2023	$	33,853	$	51,097	$	41,884	$	4,528	$	5,537	$	10,593	$	298	$	1,216	$	149,006

	September 30, 2024
	Loans Individually				Loans Collectively
	Evaluated For				Evaluated For
	Impairment				Impairment
	Recorded				Recorded
	Investment		Allowance		Investment		Allowance
	(Dollars in Thousands)
Domestic
Commercial	$	1,282	$	400	$	1,691,180	$	29,480
Commercial real estate: other construction & land development		10,027		5,500		2,447,117		54,522
Commercial real estate: farmland & commercial		50,831		4,825		2,860,756		39,559
Commercial real estate: multifamily		38,246		660		280,685		2,872
Residential: first lien		48		—		514,179		6,022
Residential: junior lien		141		—		468,843		10,582
Consumer		—		—		48,329		292
Foreign		—		—		175,361		1,385
Total	$	100,575	$	11,385	$	8,486,450	$	144,714

	December 31, 2023
	Loans Individually				Loans Collectively
	Evaluated For				Evaluated For
	Impairment				Impairment
	Recorded				Recorded
	Investment		Allowance		Investment		Allowance
	(Dollars in Thousands)
Domestic
Commercial	$	30,872	$	7,971	$	1,597,358	$	27,579
Commercial real estate: other construction & land development		15,701		4,320		2,075,921		50,971
Commercial real estate: farmland & commercial		299		—		2,793,254		42,703
Commercial real estate: multifamily		96		—		380,743		5,088
Residential: first lien		93		—		477,940		5,812
Residential: junior lien		—		—		460,868		11,024
Consumer		—		—		45,121		318
Foreign		—		—		180,695		1,283
Total	$	47,061	$	12,291	$	8,011,900	$	144,778

Loans accounted on non-accrual basis, by loan class

	September 30, 2024				December 31, 2023
	(Dollars in Thousands)
		Total Non-Accrual Loans		Non-Accrual Loans with No Credit Allowance		Total Non-Accrual Loans		Non-Accrual Loans with No Credit Allowance
Domestic
Commercial	$	1,282	$	398	$	30,872	$	122
Commercial real estate: other construction & land development		10,027		75		15,701		244
Commercial real estate: farmland & commercial		50,831		18,486		299		299
Commercial real estate: multifamily		38,246		25,142		96		96
Residential: first lien		133		133		202		202
Total non-accrual loans	$	100,519	$	44,234	$	47,170	$	963

Information regarding the aging of past due loans, by loan class

	September 30, 2024
							90 Days or		Total
	30 - 59		60 - 89		90 Days or		greater &		Past				Total
	Days		Days		Greater		still accruing		Due		Current		Portfolio
	(Dollars in Thousands)
Domestic
Commercial	$	3,723	$	1,319	$	3,419	$	3,131	$	8,461	$	1,684,001	$	1,692,462
Commercial real estate: other construction & land development		4,147		—		9,952		—		14,099		2,443,045		2,457,144
Commercial real estate: farmland & commercial		1,780		7,199		65,993		15,682		74,972		2,836,615		2,911,587
Commercial real estate: multifamily		115		—		25,236		172		25,351		293,580		318,931
Residential: first lien		3,785		2,116		3,104		3,019		9,005		505,222		514,227
Residential: junior lien		959		1,686		1,458		1,458		4,103		464,881		468,984
Consumer		293		46		26		26		365		47,964		48,329
Foreign		2,740		—		339		339		3,079		172,282		175,361
Total past due loans	$	17,542	$	12,366	$	109,527	$	23,827	$	139,435	$	8,447,590	$	8,587,025

	December 31, 2023
							90 Days or		Total
	30 - 59		60 - 89		90 Days or		greater &		Past				Total
	Days		Days		Greater		still accruing		Due		Current		Portfolio
		(Dollars in Thousands)
Domestic
Commercial	$	2,387	$	1,583	$	30,238	$	539	$	34,208	$	1,594,022	$	1,628,230
Commercial real estate: other construction & land development		3,460		—		10,245		—		13,705		2,077,917		2,091,622
Commercial real estate: farmland & commercial		1,424		371		93		4		1,888		2,791,665		2,793,553
Commercial real estate: multifamily		369		330		—		—		699		380,140		380,839
Residential: first lien		1,812		1,439		2,545		2,437		5,796		472,236		478,032
Residential: junior lien		1,273		613		1,701		1,701		3,587		457,282		460,869
Consumer		263		11		27		27		301		44,820		45,121
Foreign		1,884		848		889		889		3,621		177,074		180,695
Total past due loans	$	12,872	$	5,195	$	45,738	$	5,597	$	63,805	$	7,995,156	$	8,058,961

Summary of the loan portfolio by credit quality indicator, by loan class

		2024	2023		2022		2021		2020		Prior		Total
	(Dollars in Thousands)
Balance at September 30, 2024
Domestic
Commercial
Pass	$	713,573	$	453,452	$	135,745	$	244,823	$	40,567	$	89,944	$	1,678,104
Watch List - Pass		—		11,435		—		—		—		—		11,435
Watch List - Substandard		1,094		411		—		136		—		—		1,641
Watch List - Doubtful		962		257		63		—		—		—		1,282
Total Commercial	$	715,629	$	465,555	$	135,808	$	244,959	$	40,567	$	89,944	$	1,692,462
Commercial
Current-period gross writeoffs	$	3,874	$	2,476	$	25,651	$	31	$	14	$	3	$	32,049
Commercial real estate: other construction & land development
Pass	$	753,258	$	991,510	$	392,286	$	232,492	$	45,005	$	5,707	$	2,420,258
Special Review		—		17,350		—		—		—		—		17,350
Watch List - Substandard		9,408		101		—		—		—		—		9,509
Watch List - Doubtful		75		—		9,952		—		—		—		10,027
Total Commercial real estate: other construction & land development	$	762,741	$	1,008,961	$	402,238	$	232,492	$	45,005	$	5,707	$	2,457,144
Commercial real estate: other construction & land development
Current-period gross writeoffs	$	—	$	1,146	$	1,082	$	—	$	—	$	—	$	2,228
Commercial real estate: farmland & commercial
Pass	$	607,706	$	717,522	$	541,116	$	347,115	$	246,369	$	285,503	$	2,745,331
Special Review		644		67,870		—		—		—		—		68,514
Watch List - Pass		16,633		—		—		—		—		—		16,633
Watch List - Substandard		12,561		—		15,424		—		2,278		15		30,278
Watch List - Doubtful		50,831		—		—		—		—		—		50,831
Total Commercial real estate: farmland & commercial	$	688,375	$	785,392	$	556,540	$	347,115	$	248,647	$	285,518	$	2,911,587
Commercial real estate: multifamily
Pass	$	59,183	$	16,737	$	90,421	$	22,426	$	59,934	$	31,984	$	280,685
Watch List - Doubtful		13,104		25,064		78		—		—		—		38,246
Total Commercial real estate: multifamily	$	72,287	$	41,801	$	90,499	$	22,426	$	59,934	$	31,984	$	318,931
Residential: first lien
Pass	$	152,250	$	109,558	$	84,328	$	59,635	$	30,316	$	77,696	$	513,783
Watch List - Substandard		95		—		—		300		—		1		396
Watch List - Doubtful		—		—		48		—		—		—		48
Total Residential: first lien	$	152,345	$	109,558	$	84,376	$	59,935	$	30,316	$	77,697	$	514,227
Residential: first lien
Current-period gross writeoffs	$	—	$	—	$	—	$	—	$	—	$	46	$	46
Residential: junior lien
Pass	$	61,473	$	77,821	$	66,765	$	88,127	$	68,182	$	106,475	$	468,843
Special Review														—
Watch List- Doubtful		141		—		—		—		—		—		141
Total Residential: junior lien	$	61,614	$	77,821	$	66,765	$	88,127	$	68,182	$	106,475	$	468,984
Consumer
Pass	$	32,306	$	12,701	$	1,344	$	512	$	71	$	1,395	$	48,329
Total Consumer	$	32,306	$	12,701	$	1,344	$	512	$	71	$	1,395	$	48,329
Consumer
Current-period gross writeoffs	$	19	$	92	$	20	$	—	$	—	$	1	$	132
Foreign
Pass	$	101,540	$	41,947	$	17,871	$	7,545	$	1,680	$	4,778	$	175,361
Total Foreign	$	101,540	$	41,947	$	17,871	$	7,545	$	1,680	$	4,778	$	175,361
Foreign
Current-period gross writeoffs	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Total Loans	$	2,586,837	$	2,543,736	$	1,355,441	$	1,003,111	$	494,402	$	603,498	$	8,587,025

		2023	2022		2021		2020		2019		Prior		Total
	(Dollars in Thousands)
Balance at December 31, 2023
Domestic
Commercial
Pass	$	791,233	$	272,919	$	364,271	$	50,602	$	21,468	$	74,119	$	1,574,612
Special Review		7,613		1,800		164		—		—		—		9,577
Watch List - Pass		11,865		—		—		—		—		—		11,865
Watch List - Substandard		1,180		92		28		—		—		4		1,304
Watch List - Doubtful		27		30,810		35		—		—		—		30,872
Total Commercial	$	811,918	$	305,621	$	364,498	$	50,602	$	21,468	$	74,123	$	1,628,230
Commercial
Current-period gross writeoffs	$	7,053	$	2,187	$	155	$	264	$	2	$	3	$	9,664
Commercial real estate: other construction & land development
Pass	$	938,739	$	674,037	$	324,238	$	96,400	$	14,058	$	3,219	$	2,050,691
Watch List - Substandard		25,230		—		—		—		—		—		25,230
Watch List - Doubtful		2,726		12,975		—		—		—		—		15,701
Total Commercial real estate: other construction & land development	$	966,695	$	687,012	$	324,238	$	96,400	$	14,058	$	3,219	$	2,091,622
Commercial real estate: farmland & commercial
Pass	$	888,878	$	628,653	$	415,458	$	267,705	$	184,164	$	248,626	$	2,633,484
Special Review		5,205		—		3,357		—		—		—		8,562
Watch List - Pass		16,654		87		233		—		—		—		16,974
Watch List - Substandard		129,644		2,201		—		2,304		84		1		134,234
Watch List - Doubtful		211		88		—		—		—		—		299
Total Commercial real estate: farmland & commercial	$	1,040,592	$	631,029	$	419,048	$	270,009	$	184,248	$	248,627	$	2,793,553
Commercial real estate: multifamily
Pass	$	123,523	$	94,551	$	42,081	$	73,652	$	10,743	$	36,193	$	380,743
Watch List - Doubtful		—		96		—		—		—		—		96
Total Commercial real estate: multifamily	$	123,523	$	94,647	$	42,081	$	73,652	$	10,743	$	36,193	$	380,839
Residential: first lien
Pass	$	180,127	$	83,568	$	68,082	$	39,935	$	27,499	$	78,306	$	477,517
Watch List - Substandard		—		—		327		—		—		95		422
Watch List - Doubtful		—		93		—		—		—		—		93
Total Residential: first lien	$	180,127	$	83,661	$	68,409	$	39,935	$	27,499	$	78,401	$	478,032
Residential: first lien
Current-period gross writeoffs	$	—	$	—	$	—	$	—	$	—	$	43	$	43
Residential: junior lien
Pass	$	88,628	$	76,845	$	96,411	$	76,490	$	34,870	$	87,625	$	460,869
Total Residential: junior lien	$	88,628	$	76,845	$	96,411	$	76,490	$	34,870	$	87,625	$	460,869
Residential: junior lien
Current-period gross writeoffs	$		$		$		$		$		$	298	$	298
Consumer
Pass	$	36,639	$	5,366	$	1,043	$	237	$	157	$	1,679	$	45,121
Total Consumer	$	36,639	$	5,366	$	1,043	$	237	$	157	$	1,679	$	45,121
Consumer
Current-period gross writeoffs	$	54	$	115	$	9	$	—	$	1	$	—	$	179
Foreign
Pass	$	116,104	$	43,842	$	12,317	$	2,016	$	2,797	$	3,619	$	180,695
Total Foreign	$	116,104	$	43,842	$	12,317	$	2,016	$	2,797	$	3,619	$	180,695
Total Loans	$	3,364,226	$	1,928,023	$	1,328,045	$	609,341	$	295,840	$	533,486	$	8,058,961