LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables)

6 Months Ended

Jun. 30, 2022

Receivables [Abstract]

Schedule of Accounts Notes Loans and Financial Receivables

Loans are stated at amortized cost. Balances within the major loans receivable categories are presented in the following table:

(dollars in thousands)	June 30, 2022		December 31, 2021
Commercial, financial and agricultural	$	2,022,845	$	1,875,993
Consumer installment	167,237		191,298
Indirect automobile	172,245		265,779
Mortgage warehouse	949,191		787,837
Municipal	529,268		572,701
Premium finance	942,357		798,409
Real estate – construction and development	1,747,284		1,452,339
Real estate – commercial and farmland	7,156,017		6,834,917
Real estate – residential	3,874,578		3,094,985
	$	17,561,022	$	15,874,258

Summary of Financial Receivable Nonaccrual Basis

The following table presents an analysis of loans accounted for on a nonaccrual basis:

(dollars in thousands)	June 30, 2022		December 31, 2021
Commercial, financial and agricultural	$	11,742	$	14,214
Consumer installment	473		476
Indirect automobile	465		947
Real estate – construction and development	178		492
Real estate – commercial and farmland	21,158		15,365
Real estate – residential	88,896		53,772
	$	122,912	$	85,266

The following table presents an analysis of nonaccrual loans with no related allowance for credit losses:

(dollars in thousands)	June 30, 2022		December 31, 2021
Commercial, financial and agricultural	$	—	$	164
Real estate – construction and development	—		209
Real estate – commercial and farmland	2,448		2,061
Real estate – residential	5,071		7,942
	$	7,519	$	10,376

Summary of Past Due Financial Receivables

The following table presents an analysis of past-due loans as of June 30, 2022 and December 31, 2021:

(dollars in thousands)	Loans 30-59 Days Past Due		Loans 60-89 Days Past Due		Loans 90 or More Days Past Due		Total Loans Past Due		Current Loans		Total Loans		Loans 90 Days or More Past Due and Still Accruing
June 30, 2022
Commercial, financial and agricultural	$	3,822	$	3,725	$	11,063	$	18,610	$	2,004,235	$	2,022,845	$	1,697
Consumer installment	1,132		739		699		2,570		164,667		167,237		466
Indirect automobile	394		137		296		827		171,418		172,245		—
Mortgage warehouse	—		—		—		—		949,191		949,191		—
Municipal	—		—		—		—		529,268		529,268		—
Premium finance	7,462		6,398		5,795		19,655		922,702		942,357		5,795
Real estate – construction and development	18,050		5,677		633		24,360		1,722,924		1,747,284		584
Real estate – commercial and farmland	2,706		11,334		3,666		17,705		7,138,312		7,156,017		—
Real estate – residential	27,385		8,877		86,400		122,662		3,751,916		3,874,578		—
Total	$	60,951	$	36,887	$	108,552	$	206,389	$	17,354,633	$	17,561,022	$	8,542
December 31, 2021
Commercial, financial and agricultural	$	3,431	$	2,005	$	12,017	$	17,453	$	1,858,540	$	1,875,993	$	1,165
Consumer installment	1,786		871		891		3,548		187,750		191,298		584
Indirect automobile	772		185		473		1,430		264,349		265,779		—
Mortgage warehouse	—		—		—		—		787,837		787,837		—
Municipal	—		—		—		—		572,701		572,701		—
Premium finance	6,992		4,340		9,134		20,466		777,943		798,409		9,134
Real estate – construction and development	16,601		1,398		2,190		20,189		1,432,150		1,452,339		1,758
Real estate – commercial and farmland	6,713		1,150		5,924		13,787		6,821,130		6,834,917		7
Real estate – residential	17,729		4,266		49,839		71,834		3,023,151		3,094,985		—
Total	$	54,024	$	14,215	$	80,468	$	148,707	$	15,725,551	$	15,874,258	$	12,648

Analysis of Individually Evaluated Collateral-Dependent Financial Assets and Related Allowance for Credit Losses

The following table presents an analysis of individually evaluated collateral-dependent financial assets and related allowance for credit losses:

	June 30, 2022				December 31, 2021
(dollars in thousands)	Balance		Allowance for Credit Losses		Balance		Allowance for Credit Losses
Commercial, financial and agricultural	$	1,695	$	168	$	2,613	$	723
Premium finance	1,136		91		2,989		30
Real estate – construction and development	—		—		1,432		45
Real estate – commercial and farmland	22,820		2,096		33,332		6,646
Real estate – residential	14,317		1,580		11,712		453
	$	39,968	$	3,935	$	52,078	$	7,897

Summary of Credit Quality Indicate Financial Receivable

The following tables present the loan portfolio's amortized cost by class of financing receivable, risk grade and year of origination (in thousands) as of June 30, 2022 and December 31, 2021. Generally, current period renewals of credit are underwritten again at the point of renewal and considered current period originations for purposes of the tables below. The Company had an immaterial amount of revolving loans which converted to term loans and the amortized cost basis of those loans is included in the applicable origination year. There were no loans risk graded 9 at June 30, 2022 or December 31, 2021.

As of June 30, 2022	Term Loans by Origination Year												Revolving Loans Amortized Cost Basis
	2022		2021		2020		2019		2018		Prior				Total
Commercial, Financial and Agricultural
Risk Grade:
Pass	$	527,870	$	637,107	$	214,934	$	143,779	$	85,058	$	59,648	$	331,032	$	1,999,428
6	—		151		92		274		160		2,881		794		4,352
7	6,618		1,160		445		3,122		1,400		4,151		2,169		19,065
Total commercial, financial and agricultural	$	534,488	$	638,418	$	215,471	$	147,175	$	86,618	$	66,680	$	333,995	$	2,022,845
Consumer Installment
Risk Grade:
Pass	$	25,920	$	18,153	$	46,134	$	28,754	$	21,530	$	16,607	$	8,804	$	165,902
6	—		—		—		—		—		130		5		135
7	24		81		321		169		89		430		86		1,200
Total consumer installment	$	25,944	$	18,234	$	46,455	$	28,923	$	21,619	$	17,167	$	8,895	$	167,237
Indirect Automobile
Risk Grade:
Pass	$	—	$	—	$	—	$	15,350	$	72,999	$	82,645	$	—	$	170,994
6	—		—		—		—		—		20		—		20
7	—		—		—		50		224		957		—		1,231
Total indirect automobile	$	—	$	—	$	—	$	15,400	$	73,223	$	83,622	$	—	$	172,245
Mortgage Warehouse
Risk Grade:
Pass	$	—	$	—	$	—	$	—	$	—	$	—	$	949,191	$	949,191
Total mortgage warehouse	$	—	$	—	$	—	$	—	$	—	$	—	$	949,191	$	949,191
Municipal
Risk Grade:
Pass	$	10,775	$	43,922	$	194,357	$	13,779	$	4,853	$	261,582	$	—	$	529,268
Total municipal	$	10,775	$	43,922	$	194,357	$	13,779	$	4,853	$	261,582	$	—	$	529,268
Premium Finance
Risk Grade:
Pass	$	790,855	$	146,821	$	110	$	—	$	—	$	75	$	—	$	937,861
7	1,766		2,729		1		—		—		—		—		4,496
Total premium finance	$	792,621	$	149,550	$	111	$	—	$	—	$	75	$	—	$	942,357
Real Estate – Construction and Development
Risk Grade:
Pass	$	380,485	$	844,549	$	299,850	$	128,437	$	12,891	$	30,227	$	26,205	$	1,722,644
6	4,330		5,241		432		—		48		580		—		10,631
7	216		218		211		26		13,079		259		—		14,009
Total real estate – construction and development	$	385,031	$	850,008	$	300,493	$	128,463	$	26,018	$	31,066	$	26,205	$	1,747,284

As of June 30, 2022	Term Loans by Origination Year												Revolving Loans Amortized Cost Basis
	2022		2021		2020		2019		2018		Prior				Total
Real Estate – Commercial and Farmland
Risk Grade:
Pass	$	993,793	$	2,069,024	$	1,150,513	$	891,580	$	496,721	$	1,373,284	$	72,965	$	7,047,880
6	607		—		—		29,343		1,163		18,007		—		49,120
7	—		3,259		2,588		13,777		6,967		32,408		18		59,017
Total real estate – commercial and farmland	$	994,400	$	2,072,283	$	1,153,101	$	934,700	$	504,851	$	1,423,699	$	72,983	$	7,156,017
Real Estate - Residential
Risk Grade:
Pass	$	880,233	$	1,243,230	$	582,823	$	290,790	$	123,347	$	438,034	$	214,894	$	3,773,351
6	64		218		47		608		508		2,680		61		4,186
7	268		9,398		18,956		29,041		14,331		23,395		1,652		97,041
Total real estate - residential	$	880,565	$	1,252,846	$	601,826	$	320,439	$	138,186	$	464,109	$	216,607	$	3,874,578
Total Loans
Risk Grade:
Pass	$	3,609,931	$	5,002,806	$	2,488,721	$	1,512,469	$	817,399	$	2,262,102	$	1,603,091	$	17,296,519
6	5,001		5,610		571		30,225		1,879		24,298		860		68,444
7	8,892		16,845		22,522		46,185		36,090		61,600		3,925		196,059
Total loans	$	3,623,824	$	5,025,261	$	2,511,814	$	1,588,879	$	855,368	$	2,348,000	$	1,607,876	$	17,561,022

As of December 31, 2021	Term Loans by Origination Year												Revolving Loans Amortized Cost Basis
	2021		2020		2019		2018		2017		Prior				Total
Commercial, Financial and Agricultural
Risk Grade:
Pass	$	903,630	$	279,037	$	188,810	$	118,613	$	50,737	$	40,376	$	262,951	$	1,844,154
6	190		—		393		427		368		1,832		1,961		5,171
7	9,216		1,268		4,098		1,472		2,566		6,019		2,029		26,668
Total commercial, financial and agricultural	$	913,036	$	280,305	$	193,301	$	120,512	$	53,671	$	48,227	$	266,941	$	1,875,993
Consumer Installment
Risk Grade:
Pass	$	35,781	$	59,221	$	37,195	$	27,266	$	9,787	$	11,021	$	9,437	$	189,708
6	—		—		—		—		—		135		5		140
7	59		283		290		216		103		405		94		1,450
Total consumer installment	$	35,840	$	59,504	$	37,485	$	27,482	$	9,890	$	11,561	$	9,536	$	191,298
Indirect Automobile
Risk Grade:
Pass	$	—	$	—	$	20,276	$	101,969	$	90,294	$	51,468	$	—	$	264,007
6	—		—		—		24		10		19		—		53
7	—		—		55		234		384		1,046		—		1,719
Total indirect automobile	$	—	$	—	$	20,331	$	102,227	$	90,688	$	52,533	$	—	$	265,779

As of December 31, 2021	Term Loans by Origination Year												Revolving Loans Amortized Cost Basis
	2021		2020		2019		2018		2017		Prior				Total
Mortgage Warehouse
Risk Grade:
Pass	$	—	$	—	$	—	$	—	$	—	$	—	$	787,837	$	787,837
Total mortgage warehouse	$	—	$	—	$	—	$	—	$	—	$	—	$	787,837	$	787,837
Municipal
Risk Grade:
Pass	$	44,727	$	219,385	$	14,831	$	5,494	$	109,040	$	179,224	$	—	$	572,701
Total municipal	$	44,727	$	219,385	$	14,831	$	5,494	$	109,040	$	179,224	$	—	$	572,701
Premium Finance
Risk Grade:
Pass	$	787,884	$	1,059	$	26	$	—	$	302	$	4	$	—	$	789,275
7	9,039		95		—		—		—		—		—		9,134
Total premium finance	$	796,923	$	1,154	$	26	$	—	$	302	$	4	$	—	$	798,409
Real Estate – Construction and Development
Risk Grade:
Pass	$	826,094	$	290,814	$	176,476	$	35,773	$	24,533	$	44,514	$	21,267	$	1,419,471
6	6,527		549		—		15,260		—		2,101		—		24,437
7	1,143		678		7		2,476		57		1,011		3,059		8,431
Total real estate – construction and development	$	833,764	$	292,041	$	176,483	$	53,509	$	24,590	$	47,626	$	24,326	$	1,452,339
Real Estate – Commercial and Farmland
Risk Grade:
Pass	$	2,186,291	$	1,205,578	$	1,119,239	$	542,295	$	486,477	$	1,103,675	$	80,379	$	6,723,934
6	416		—		1,036		14,760		5,334		21,665		—		43,211
7	4,709		2,682		11,109		9,076		4,861		35,315		20		67,772
Total real estate – commercial and farmland	$	2,191,416	$	1,208,260	$	1,131,384	$	566,131	$	496,672	$	1,160,655	$	80,399	$	6,834,917
Real Estate - Residential
Risk Grade:
Pass	$	1,171,008	$	638,232	$	329,247	$	149,990	$	108,538	$	408,240	$	217,982	$	3,023,237
6	145		66		1,106		505		356		3,717		49		5,944
7	2,405		10,167		21,239		11,376		4,597		13,970		2,050		65,804
Total real estate - residential	$	1,173,558	$	648,465	$	351,592	$	161,871	$	113,491	$	425,927	$	220,081	$	3,094,985
Total Loans
Risk Grade:
Pass	$	5,955,415	$	2,693,326	$	1,886,100	$	981,400	$	879,708	$	1,838,522	$	1,379,853	$	15,614,324
6	7,278		615		2,535		30,976		6,068		29,469		2,015		78,956
7	26,571		15,173		36,798		24,850		12,568		57,766		7,252		180,978
Total loans	$	5,989,264	$	2,709,114	$	1,925,433	$	1,037,226	$	898,344	$	1,925,757	$	1,389,120	$	15,874,258

Summary of Troubled Debt Restructurings by Loan Class

The following table presents the loans by class modified as troubled debt restructurings which occurred during the three and six months ended June 30, 2022 and 2021. These modifications did not have a material impact on the Company’s allowance for credit losses.

	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Loan Class	#	Balance (in thousands)		#	Balance (in thousands)		#	Balance (in thousands)		#	Balance (in thousands)
Commercial, financial and agricultural	2	$	502	2	$	165	2	$	502	6	$	591
Consumer installment	—	—		2	8		—	—		2	8
Premium finance	2	756		—	—		6	993		—	—
Real estate – commercial and farmland	2	578		3	8,653		2	578		5	16,312
Real estate – residential	2	462		2	472		5	1,437		12	1,457
Total	8	$	2,298	9	$	9,298	15	$	3,510	25	$	18,368

Troubled Debt Restructurings on Financing Receivable Payment Default

The following table presents the outstanding balance of troubled debt restructurings by class that defaulted (defined as 30 days past due) during the three and six months ended June 30, 2022 and 2021. These defaults did not have a material impact on the Company's allowance for credit losses.

	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Loan Class	#	Balance (in thousands)		#	Balance (in thousands)		#	Balance (in thousands)		#	Balance (in thousands)
Commercial, financial and agricultural	—	$	—	—	$	—	1	$	357	3	$	49
Consumer installment	—	—		—	—		2	3		4	5
Indirect automobile	3	2		7	27		12	22		22	112
Real estate – construction and development	—	—		—	—		—	—		1	1
Real estate – commercial and farmland	—	—		1	202		1	8		3	5,382
Real estate – residential	11	1,071		17	940		21	2,791		27	1,646
Total	14	$	1,073	25	$	1,169	37	$	3,181	60	$	7,195

Summary of Troubled Debt Restructuring by Loan Class, Classified Separately under Restructured Terms

The following table presents the amount of troubled debt restructurings by loan class classified separately as accrual and nonaccrual at June 30, 2022 and December 31, 2021:

June 30, 2022	Accruing Loans			Non-Accruing Loans
Loan Class	#	Balance (in thousands)		#	Balance (in thousands)
Commercial, financial and agricultural	9	$	964	3	$	364
Consumer installment	4	9		10	14
Indirect automobile	196	759		30	122
Premium finance	6	993		—	—
Real estate – construction and development	2	706		—	—
Real estate – commercial and farmland	18	8,213		4	788
Real estate – residential	210	24,456		31	4,369
Total	445	$	36,100	78	$	5,657

December 31, 2021	Accruing Loans			Non-Accruing Loans
Loan Class	#	Balance (in thousands)		#	Balance (in thousands)
Commercial, financial and agricultural	12	$	1,286	6	$	83
Consumer installment	7	16		17	35
Indirect automobile	233	1,037		52	273
Real estate – construction and development	4	789		1	13
Real estate – commercial and farmland	25	35,575		5	5,924
Real estate – residential	213	26,879		39	4,678
Total	494	$	65,582	120	$	11,006

Schedule of Allowances for Loan Losses by Portfolio Segment

The following tables detail activity and end of period balances in the allowance for credit losses by portfolio segment for the periods indicated. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.

Three Months Ended June 30, 2022
(dollars in thousands)	Commercial, Financial and Agricultural		Consumer Installment		Indirect Automobile		Mortgage Warehouse		Municipal		Premium Finance
Balance, March 31, 2022	$	25,526	$	5,619	$	373	$	3,010	$	384	$	2,515
Provision for loan losses	1,738		557		(306)		875		(13)		200
Loans charged off	(4,391)		(1,137)		(41)		—		—		(1,066)
Recoveries of loans previously charged off	2,785		230		265		—		—		1,113
Balance, June 30, 2022	$	25,658	$	5,269	$	291	$	3,885	$	371	$	2,762
	Real Estate – Construction and Development		Real Estate – Commercial and Farmland		Real Estate – Residential		Total
Balance, March 31, 2022	$	26,831	$	67,033	$	29,960	$	161,251
Provision for loan losses	(3,954)		(7,647)		21,777		13,227
Loans charged off	—		(81)		(137)		(6,853)
Recoveries of loans previously charged off	355		44		225		5,017
Balance, June 30, 2022	$	23,232	$	59,349	$	51,825	$	172,642
Six Months Ended June 30, 2022
(dollars in thousands)	Commercial, Financial and Agricultural		Consumer Installment		Indirect Automobile		Mortgage Warehouse		Municipal		Premium Finance
Balance, December 31, 2021	$	26,829	$	6,097	$	476	$	3,231	$	401	$	2,729
Provision for loan losses	1,953		1,346		(596)		654		(30)		108
Loans charged off	(8,805)		(2,562)		(129)		—		—		(2,435)
Recoveries of loans previously charged off	5,681		388		540		—		—		2,360
Balance, June 30, 2022	$	25,658	$	5,269	$	291	$	3,885	$	371	$	2,762
	Real Estate – Construction and Development		Real Estate – Commercial and Farmland		Real Estate – Residential		Total
Balance, December 31, 2021	$	22,045	$	77,831	$	27,943	$	167,582
Provision for loan losses	614		(17,199)		23,643		10,493
Loans charged off	—		(1,364)		(137)		(15,432)
Recoveries of loans previously charged off	573		81		376		9,999
Balance, June 30, 2022	$	23,232	$	59,349	$	51,825	$	172,642

Three Months Ended June 30, 2021
(dollars in thousands)	Commercial, Financial and Agricultural		Consumer Installment		Indirect Automobile		Mortgage Warehouse		Municipal		Premium Finance
Balance, March 31, 2021	$	8,291	$	8,790	$	1,272	$	3,521	$	790	$	4,100
Provision for loan losses	1,502		491		(423)		(156)		(13)		(833)
Loans charged off	(3,529)		(1,669)		(141)		—		—		(1,194)
Recoveries of loans previously charged off	625		212		372		—		—		2,466
Balance, June 30, 2021	$	6,889	$	7,824	$	1,080	$	3,365	$	777	$	4,539
	Real Estate – Construction and Development		Real Estate – Commercial and Farmland		Real Estate – Residential		Total
Balance, March 31, 2021	$	22,858	$	91,211	$	37,737	$	178,570
Provision for loan losses	(3,757)		(3,031)		5,321		(899)
Loans charged off	(186)		(27)		(392)		(7,138)
Recoveries of loans previously charged off	84		185		593		4,537
Balance, June 30, 2021	$	18,999	$	88,338	$	43,259	$	175,070
Six Months Ended June 30, 2021
(dollars in thousands)	Commercial, Financial and Agricultural		Consumer Installment		Indirect Automobile		Mortgage Warehouse		Municipal		Premium Finance
Balance, December 31, 2020	$	7,359	$	4,076	$	1,929	$	3,666	$	791	$	3,879
Provision for loan losses	4,077		6,297		(951)		(301)		(14)		(391)
Loans charged off	(5,899)		(3,117)		(970)		—		—		(2,537)
Recoveries of loans previously charged off	1,352		568		1,072		—		—		3,588
Balance, June 30, 2021	$	6,889	$	7,824	$	1,080	$	3,365	$	777	$	4,539
	Real Estate – Construction and Development		Real Estate – Commercial and Farmland		Real Estate – Residential		Total
Balance, December 31, 2020	$	45,304	$	88,894	$	43,524	$	199,422
Provision for loan losses	(26,344)		640		(491)		(17,478)
Loans charged off	(212)		(1,422)		(555)		(14,712)
Recoveries of loans previously charged off	251		226		781		7,838
Balance, June 30, 2021	$	18,999	$	88,338	$	43,259	$	175,070