LOANS AND ALLOWANCE FOR CREDIT LOSSES

12 Months Ended

Dec. 31, 2024

Receivables [Abstract]

LOANS AND ALLOWANCE FOR CREDIT LOSSES

LOANS AND ALLOWANCE FOR CREDIT LOSSES

Loans

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

	December 31,
(dollars in thousands)	2024		2023
Commercial and industrial	$	2,953,135	$	2,688,929
Consumer	221,735		275,809
Mortgage warehouse	965,053		818,728
Municipal	441,408		492,668
Premium finance	1,155,614		946,562
Real estate – construction and development	1,998,506		2,129,187
Real estate – commercial and farmland	8,445,958		8,059,754
Real estate – residential	4,558,497		4,857,666
	$	20,739,906	$	20,269,303

Nonaccrual and Past Due Loans

A loan is placed on nonaccrual status when, in management’s judgment, the collection of the interest income appears doubtful. Past due loans are loans whose principal or interest is past due 30 days or more. In some cases, where borrowers are experiencing financial difficulties, loans may be modified to provide terms significantly different from the original contractual terms.

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

	December 31,
(dollars in thousands)	2024		2023
Commercial and industrial	$	11,875	$	8,059
Consumer	782		1,452
Real estate – construction and development	3,718		282
Real estate – commercial and farmland	11,960		11,295
Real estate – residential (1)	73,883		130,029
	$	102,218	$	151,117

(1) Included in real estate - residential were $12.0 million and $90.2 million of serviced GNMA-guaranteed nonaccrual loans at December 31, 2024 and 2023, respectively.

Interest income recognized on nonaccrual loans during the years ended December 31, 2024 and 2023 was not material.

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

(dollars in thousands)	December 31, 2024		December 31, 2023
Commercial and industrial	$	3,866	$	2,049
Real estate – construction and development	2,624		—
Real estate – commercial and farmland	9,357		9,109
Real estate – residential	36,512		75,419
	$	52,359	$	86,577

The following tables present an analysis of past-due loans as of December 31, 2024 and 2023:

(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
December 31, 2024
Commercial and industrial	$	12,300	$	5,908	$	12,849	$	31,057	$	2,922,078	$	2,953,135	$	5,159
Consumer	2,672		557		319		3,548		218,187		221,735		—
Mortgage warehouse	—		—		—		—		965,053		965,053		—
Municipal	—		—		—		—		441,408		441,408		—
Premium finance	15,068		6,315		12,485		33,868		1,121,746		1,155,614		12,485
Real estate – construction and development	23,102		461		3,786		27,349		1,971,157		1,998,506		89
Real estate – commercial and farmland	6,787		2,435		5,980		15,202		8,430,756		8,445,958		—
Real estate – residential	47,020		15,864		71,070		133,954		4,424,543		4,558,497		—
Total	$	106,949	$	31,540	$	106,489	$	244,978	$	20,494,928	$	20,739,906	$	17,733

(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
December 31, 2023
Commercial and industrial	$	11,023	$	5,439	$	9,733	$	26,195	$	2,662,734	$	2,688,929	$	5,310
Consumer	2,308		1,054		576		3,938		271,871		275,809		—
Mortgage warehouse	—		—		—		—		818,728		818,728		—
Municipal	—		—		—		—		492,668		492,668		—
Premium finance	12,379		6,832		11,678		30,889		915,673		946,562		11,678
Real estate – construction and development	2,094		—		282		2,376		2,126,811		2,129,187		—
Real estate – commercial and farmland	5,070		1,656		6,352		13,078		8,046,676		8,059,754		—
Real estate – residential	49,976		19,300		127,087		196,363		4,661,303		4,857,666		—
Total	$	82,850	$	34,281	$	155,708	$	272,839	$	19,996,464	$	20,269,303	$	16,988

Collateral-Dependent Loans

Collateral-dependent loans are loans where repayment is expected to be provided substantially through the operation or sale of the collateral when the borrower is experiencing financial difficulty. If the Company determines that foreclosure is probable, these loans are written down to the lower of cost or collateral value less estimated costs to sell. When repayment is expected to be from the operation of the collateral, the allowance for credit losses is calculated as the amount by which the amortized cost basis of the financial asset exceeds the present value of expected cash flows from the operation of the collateral. The Company may, in the alternative, measure the allowance for credit loss as the amount by which the amortized cost basis of the financial

asset exceeded the estimated fair value of the collateral. As of December 31, 2024 and 2023, there were $49.5 million and $40.4 million, respectively, of collateral-dependent loans which are primarily secured by real estate, equipment and receivables.

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

(dollars in thousands)	December 31, 2024				December 31, 2023
	Balance		Allowance for Credit Losses		Balance		Allowance for Credit Losses
Commercial and industrial	$	9,451	$	1,072	$	5,889	$	567
Premium finance	2,165		130		1,990		45
Real estate – construction and development	2,979		110		280		23
Real estate – commercial and farmland	10,882		149		11,114		108
Real estate – residential	23,983		2,302		21,102		2,654
	$	49,460	$	3,763	$	40,375	$	3,397

Credit Quality Indicators

The Company uses a five category risk grading system to assign a risk grade to each loan in the portfolio. The following is a description of the general characteristics of the grades:

Pass – These grades represent acceptable credit risk to the Company based on factors including creditworthiness of the borrower, current performance and nature of the collateral.

Other Assets Especially Mentioned ("Special Mention") – This grade includes loans that exhibit potential weaknesses that deserve management’s close attention. If left uncorrected, these weaknesses may result in deterioration of the repayment prospects for the asset or in the Company’s credit position at some future date.

Substandard – This grade represents loans which are inadequately protected by the current credit worthiness and paying capacity of the borrower or of the collateral pledged, if any. These assets exhibit a well-defined weakness or are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. These weaknesses may be characterized by past due performance, operating losses or questionable collateral values.

Doubtful – This grade includes loans which exhibit all of the characteristics of a substandard loan with the added provision that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable or improbable.

Loss – This grade is assigned to loans which are considered uncollectible and of such little value that their continuance as active assets of the Bank is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing it off.

The following table presents the loan portfolio's amortized cost by class of financing receivable, risk grade and year of origination (in thousands). Generally, current period renewals of credit are underwritten again at the point of renewal and considered current period originations for purposes of the table 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 doubtful or loss at December 31, 2024 and 2023.

	Term Loans by Origination Year												Revolving Loans Amortized Cost Basis		Total
As of December 31, 2024	2024		2023		2022		2021		2020		Prior
Commercial and Industrial
Risk Grade:
Pass	$	919,301	$	594,485	$	523,513	$	246,036	$	72,397	$	46,358	$	512,778	$	2,914,868
Special Mention	892		28		1,938		1,311		777		2,960		3,319		11,225
Substandard	885		2,214		4,384		7,222		655		4,555		7,127		27,042
Total commercial and industrial	$	921,078	$	596,727	$	529,835	$	254,569	$	73,829	$	53,873	$	523,224	$	2,953,135
Current-period gross charge offs	$	1,374	$	21,045	$	19,333	$	9,887	$	1,350	$	886	$	—	$	53,875
Consumer
Risk Grade:
Pass	$	58,113	$	18,575	$	8,684	$	2,371	$	17,405	$	31,962	$	83,143	$	220,253
Special Mention	8		—		14		—		9		61		—		92
Substandard	113		206		81		48		179		648		115		1,390
Total consumer	$	58,234	$	18,781	$	8,779	$	2,419	$	17,593	$	32,671	$	83,258	$	221,735
Current-period gross charge offs	$	438	$	683	$	288	$	74	$	847	$	1,484	$	198	$	4,012
Mortgage Warehouse
Risk Grade:
Pass	$	—	$	—	$	—	$	—	$	—	$	—	$	965,053	$	965,053
Total mortgage warehouse	$	—	$	—	$	—	$	—	$	—	$	—	$	965,053	$	965,053
Current-period gross charge offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Municipal
Risk Grade:
Pass	$	20,133	$	9,094	$	44,482	$	36,468	$	139,046	$	191,559	$	626	$	441,408
Total municipal	$	20,133	$	9,094	$	44,482	$	36,468	$	139,046	$	191,559	$	626	$	441,408
Current-period gross charge offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Premium Finance
Risk Grade:
Pass	$	1,141,370	$	1,648	$	28	$	83	$	—	$	—	$	—	$	1,143,129
Substandard	12,001		483		1		—		—		—		—		12,485
Total premium finance	$	1,153,371	$	2,131	$	29	$	83	$	—	$	—	$	—	$	1,155,614
Current-period gross charge offs	$	2,439	$	6,870	$	245	$	—	$	—	$	—	$	—	$	9,554

	Term Loans by Origination Year												Revolving Loans Amortized Cost Basis		Total
As of December 31, 2024	2024		2023		2022		2021		2020		Prior
Real Estate – Construction and Development
Risk Grade:
Pass	$	523,704	$	245,526	$	835,742	$	245,091	$	3,619	$	73,816	$	66,449	$	1,993,947
Special Mention	—		—		160		65		—		275		—		500
Substandard	—		151		3,020		337		—		551		—		4,059
Total real estate – construction and development	$	523,704	$	245,677	$	838,922	$	245,493	$	3,619	$	74,642	$	66,449	$	1,998,506
Current-period gross charge offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Real Estate – Commercial and Farmland
Risk Grade:
Pass	$	330,472	$	456,486	$	2,373,426	$	2,173,060	$	990,712	$	1,866,277	$	113,916	$	8,304,349
Special Mention	—		—		3,069		14,844		14,706		63,717		—		96,336
Substandard	—		1,551		16,979		3,855		12,730		10,158		—		45,273
Total real estate – commercial and farmland	$	330,472	$	458,037	$	2,393,474	$	2,191,759	$	1,018,148	$	1,940,152	$	113,916	$	8,445,958
Current-period gross charge offs	$	—	$	513	$	—	$	—	$	—	$	58	$	—	$	571
Real Estate - Residential
Risk Grade:
Pass	$	193,939	$	628,098	$	1,291,666	$	1,046,164	$	460,887	$	561,386	$	292,193	$	4,474,333
Special Mention	—		10		52		16		157		1,375		1,173		2,783
Substandard	2,718		9,880		14,040		9,885		10,603		26,236		8,019		81,381
Total real estate - residential	$	196,657	$	637,988	$	1,305,758	$	1,056,065	$	471,647	$	588,997	$	301,385	$	4,558,497
Current-period gross charge offs	$	—	$	24	$	55	$	14	$	—	$	9	$	—	$	102
Total Loans
Risk Grade:
Pass	$	3,187,032	$	1,953,912	$	5,077,541	$	3,749,273	$	1,684,066	$	2,771,358	$	2,034,158	$	20,457,340
Special Mention	900		38		5,233		16,236		15,649		68,388		4,492		110,936
Substandard	15,717		14,485		38,505		21,347		24,167		42,148		15,261		171,630
Total loans	$	3,203,649	$	1,968,435	$	5,121,279	$	3,786,856	$	1,723,882	$	2,881,894	$	2,053,911	$	20,739,906
Current-period gross charge offs	$	4,251	$	29,135	$	19,921	$	9,975	$	2,197	$	2,437	$	198	$	68,114

	Term Loans by Origination Year												Revolving Loans Amortized Cost Basis		Total
As of December 31, 2023	2023		2022		2021		2020		2019		Prior
Commercial and Industrial
Risk Grade:
Pass	$	892,951	$	758,471	$	384,830	$	95,055	$	56,447	$	41,095	$	432,472	$	2,661,321
Special Mention	—		335		5,722		92		109		451		803		7,512
Substandard	1,512		3,595		3,222		1,140		3,533		5,748		1,346		20,096
Total commercial and industrial	$	894,463	$	762,401	$	393,774	$	96,287	$	60,089	$	47,294	$	434,621	$	2,688,929

	Term Loans by Origination Year												Revolving Loans Amortized Cost Basis		Total
As of December 31, 2023	2023		2022		2021		2020		2019		Prior
Consumer
Risk Grade:
Pass	$	44,736	$	17,661	$	5,878	$	25,654	$	21,924	$	48,583	$	109,214	$	273,650
Special Mention	—		5		—		—		—		26		—		31
Substandard	154		181		41		334		252		1,001		165		2,128
Total consumer	$	44,890	$	17,847	$	5,919	$	25,988	$	22,176	$	49,610	$	109,379	$	275,809
Mortgage Warehouse
Risk Grade:
Pass	$	—	$	—	$	—	$	—	$	—	$	—	$	772,366	$	772,366
Special Mention	—		—		—		—		—		—		46,362		46,362
Total mortgage warehouse	$	—	$	—	$	—	$	—	$	—	$	—	$	818,728	$	818,728
Municipal
Risk Grade:
Pass	$	14,216	$	27,346	$	48,941	$	177,156	$	14,655	$	208,236	$	2,118	$	492,668
Total municipal	$	14,216	$	27,346	$	48,941	$	177,156	$	14,655	$	208,236	$	2,118	$	492,668
Premium Finance
Risk Grade:
Pass	$	928,930	$	4,038	$	1,916	$	—	$	—	$	—	$	—	$	934,884
Substandard	10,777		901		—		—		—		—		—		11,678
Total premium finance	$	939,707	$	4,939	$	1,916	$	—	$	—	$	—	$	—	$	946,562
Real Estate – Construction and Development
Risk Grade:
Pass	$	457,077	$	938,909	$	505,254	$	58,840	$	54,646	$	30,042	$	81,662	$	2,126,430
Special Mention	—		—		—		—		—		479		—		479
Substandard	—		266		1,512		—		—		500		—		2,278
Total real estate – construction and development	$	457,077	$	939,175	$	506,766	$	58,840	$	54,646	$	31,021	$	81,662	$	2,129,187
Real Estate – Commercial and Farmland
Risk Grade:
Pass	$	450,315	$	1,890,498	$	2,133,833	$	1,090,735	$	765,640	$	1,437,323	$	100,206	$	7,868,550
Special Mention	—		17,131		53,329		—		30,200		46,370		—		147,030
Substandard	428		418		15,578		2,660		6,106		18,984		—		44,174
Total real estate – commercial and farmland	$	450,743	$	1,908,047	$	2,202,740	$	1,093,395	$	801,946	$	1,502,677	$	100,206	$	8,059,754
Real Estate - Residential
Risk Grade:
Pass	$	714,684	$	1,425,186	$	1,148,092	$	506,137	$	236,147	$	423,648	$	262,968	$	4,716,862
Special Mention	13		—		72		201		234		1,411		380		2,311
Substandard	5,057		26,171		28,459		30,566		19,357		25,263		3,620		138,493
Total real estate - residential	$	719,754	$	1,451,357	$	1,176,623	$	536,904	$	255,738	$	450,322	$	266,968	$	4,857,666

	Term Loans by Origination Year												Revolving Loans Amortized Cost Basis		Total
As of December 31, 2023	2023		2022		2021		2020		2019		Prior
Total Loans
Risk Grade:
Pass	$	3,502,909	$	5,062,109	$	4,228,744	$	1,953,577	$	1,149,459	$	2,188,927	$	1,761,006	$	19,846,731
Special Mention	13		17,471		59,123		293		30,543		48,737		47,545		203,725
Substandard	17,928		31,532		48,812		34,700		29,248		51,496		5,131		218,847
Total loans	$	3,520,850	$	5,111,112	$	4,336,679	$	1,988,570	$	1,209,250	$	2,289,160	$	1,813,682	$	20,269,303

Modifications to Borrowers Experiencing Financial Difficulty

The Company periodically provides modifications to borrowers experiencing financial difficulty. These modifications include either payment deferrals, term extensions, interest rate reductions, principal forgiveness or combinations of modification types. The determination of whether the borrower is experiencing financial difficulty is made on the date of the modification. When principal forgiveness is provided, the amount of principal forgiveness is charged off against the allowance for credit losses with a corresponding reduction in the amortized cost basis of the loan.

The following tables show the amortized cost basis of the loans modified to borrowers experiencing financial difficulty, disaggregated by class of financing receivable and type of concession granted during the years ended December 31, 2024 and 2023:

Year Ended December 31, 2024
(dollars in thousands)	Payment Deferral		Term Extension		Interest Rate Reduction		Combination of Term Extension and Rate Reduction		Total		Percentage of Total Class of Financial Receivable
Commercial and industrial	$	586	$	—	$	—	$	—	$	586	—	%
Real estate – commercial and farmland	—		603		—		—		603		—	%
Real estate – residential	—		10,567		1,331		5,058		16,956		0.4	%
Total	$	586	$	11,170	$	1,331	$	5,058	$	18,145	0.1	%

Year Ended December 31, 2023
(dollars in thousands)	Payment Deferral		Term Extension		Interest Rate Reduction		Combination of Term Extension and Rate Reduction		Total		Percentage of Total Class of Financial Receivable
Commercial and industrial	$	2,212	$	2,960	$	—	$	—	$	5,172	0.2	%
Real estate – commercial and farmland	3,905		3,101		815		—		7,821		0.1	%
Real estate – residential	1,029		5,539		—		804		7,372		0.2	%
Total	$	7,146	$	11,600	$	815	$	804	$	20,365	0.1	%

As of December 31, 2024, the Company has unfunded commitments of $179,000 to borrowers experiencing financial difficulty for which the Company has modified their loans.

The following tables describe the financial effect of the modifications made to borrowers experiencing financial difficulty during the twelve months ended December 31, 2024 and 2023:

Year Ended December 31, 2024

Payment Deferral
Loan Type	Financial Effect
Commercial and industrial	Payments were deferred for a weighted average of 22 months

Term Extension
Loan Type	Financial Effect
Real estate – commercial and farmland	Maturity dates were extended for an average of 15 months.
Real estate - residential	Maturity dates were extended for a weighted average of 83 months

Interest Rate Reduction
Loan Type	Financial Effect
Real estate - residential	Interest rate was reduced by 2.87%

Combination of Term Extension and Rate Reduction
Loan Type	Financial Effect
Real estate - residential	Maturity date was extended for a weighted average of 90 months and rate was reduced by a weighted average 2.87%

Year Ended December 31, 2023

Payment Deferral
Loan Type	Financial Effect
Commercial and industrial	Payments were deferred for a weighted average of five months.
Real estate – commercial and farmland	Payments were deferred for a weighted average of six months.
Real estate – residential	Payments were deferred for a weighted average of four months.

Term Extension
Loan Type	Financial Effect
Commercial and industrial	Maturity dates were extended for a weighted average of nine months.
Real estate – commercial and farmland	Maturity dates were extended for an average of 13 months.
Real estate - residential	Maturity dates were extended for a weighted average of 103 months.

Interest Rate Reduction
Loan Type	Financial Effect
Real estate – commercial and farmland	Interest rate was reduced by 4.75%.

Combination of Term Extension and Rate Reduction
Loan Type	Financial Effect
Real estate - residential	Maturity date was extended for a weighted average of 120 months and rate was reduced by a weighted average 0.95%.

The Company monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table depicts the performance of loans that have been modified in the last 12 months:

As of December 31, 2024
(dollars in thousands)	Current		30-59 Days Past Due		60-89 Days Past Due		90 or More Days Past Due		Total
Commercial and industrial	$	586	$	—	$	—	$	—	$	586
Real estate – commercial and farmland	—		603		—		—		603
Real estate – residential	8,916		3,992		—		4,048		16,956
Total	$	9,502	$	4,595	$	—	$	4,048	$	18,145

As of December 31, 2023
(dollars in thousands)	Current		30-59 Days Past Due		60-89 Days Past Due		90 or More Days Past Due		Total
Commercial and industrial	$	4,018	$	355	$	—	$	799	$	5,172
Real estate – commercial and farmland	6,692		1,129		—		—		7,821
Real estate – residential	5,113		711		442		1,106		7,372
Total	$	15,823	$	2,195	$	442	$	1,905	$	20,365

The following tables provide the amortized cost basis of financing receivables at December 31, 2024 and 2023 that had a payment default and were modified in the 12 months before default to borrowers experiencing financial difficulty.

As of December 31, 2024
(dollars in thousands)	Interest Rate Reduction		Term Extension		Payment Deferral		Combination of Term Extension and Rate Reduction		Total
Commercial and industrial	$	—	$	—	$	1,038	$	—	$	1,038
Real estate – commercial and farmland	—		603		—		—		603
Real estate – residential	499		6,746		—		2,233		9,478
Total	$	499	$	7,349	$	1,038	$	2,233	$	11,119

As of December 31, 2023
(dollars in thousands)	Interest Rate Reduction		Term Extension		Payment Deferral		Combination of Term Extension and Rate Reduction		Total
Commercial and industrial	$	—	$	—	$	1,154	$	—	$	1,154
Real estate – commercial and farmland	—		—		1,129		—		1,129
Real estate – residential	—		2,067		192		—		2,259
Total	$	—	$	2,067	$	2,475	$	—	$	4,542

Related Party Loans

In the ordinary course of business, the Company has granted loans to certain executive officers, directors and their affiliates. These loans are made on substantially the same terms as those prevailing at the time for comparable transaction and do not involve more than normal credit risk. Changes in related party loans are summarized as follows:

	December 31,
(dollars in thousands)	2024		2023
Balance, January 1	$	140,057	$	80,746
Advances	49,158		61,764
Repayments	(4,354)		(2,453)
Transactions due to changes in related parties	(570)		—
Ending balance	$	184,291	$	140,057

Allowance for Credit Losses

The allowance for credit losses represents an allowance for expected losses over the remaining contractual life of the assets adjusted for prepayments and curtailments. The contractual term does not consider extensions, renewals or modifications. The Company segregates the loan portfolio by type of loan and utilizes this segregation in evaluating exposure to risks within the portfolio.

The allowance for credit losses was determined at December 31, 2024 using a weighting of two economic forecasts from Moody's in order to align with management's best estimate over the reasonable and supportable forecast period. The Moody's baseline scenario was weighted at 75% and the downside 75th percentile S-2 scenario was weighted at 25%. The allowance for credit losses was determined at December 31, 2023 solely using the Moody's baseline scenario economic forecast. During the year ended December 31, 2024, the allowance for credit losses increased primarily due to the updated economic forecast and organic loan growth during the period. The current forecast reflects, among other things, a negative trend in forecast levels of commercial real estate prices and increased unemployment, partially offset by improvements in forecast levels of home prices and gross domestic product compared with the forecast at December 31, 2023.

The following table details activity 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.

(dollars in thousands)	Commercial and Industrial		Consumer		Mortgage Warehouse		Municipal		Premium Finance		Real Estate – Construction and Development
Year ended December 31, 2024
Balance, December 31, 2023	$	64,053	$	3,952	$	1,678	$	345	$	602	$	61,017
Provision for loan losses	59,726		5,967		584		(287)		608		(655)
Loans charged off	(53,875)		(4,012)		—		—		(9,554)		—
Recoveries of loans previously charged off	17,338		1,420		—		—		9,080		59
Balance, December 31, 2024	$	87,242	$	7,327	$	2,262	$	58	$	736	$	60,421
	Real Estate – Commercial and Farmland		Real Estate – Residential		Total
Year ended December 31, 2024
Balance, December 31, 2023	$	110,097	$	65,356	$	307,100
Provision for loan losses	7,677		(3,779)		69,841
Loans charged off	(571)		(102)		(68,114)
Recoveries of loans previously charged off	1,174		186		29,257
Balance, December 31, 2024	$	118,377	$	61,661	$	338,084

(dollars in thousands)	Commercial and Industrial		Consumer		Mortgage Warehouse		Municipal		Premium Finance		Real Estate – Construction and Development
Year ended December 31, 2023
Balance, January 1, 2023	$	39,455	$	5,587	$	2,118	$	357	$	1,025	$	32,659
Adoption of ASU 2022-02	(105)		—		—		—		—		(37)
Provision for loan losses	68,349		2,218		(440)		(12)		343		27,446
Loans charged off	(58,612)		(5,453)		—		—		(6,567)		—
Recoveries of loans previously charged off	14,966		1,600		—		—		5,801		949
Balance, December 31, 2023	$	64,053	$	3,952	$	1,678	$	345	$	602	$	61,017
	Real Estate – Commercial and Farmland		Real Estate – Residential		Total
Year ended December 31, 2023
Balance, January 1, 2023	$	67,433	$	57,043	$	205,677
Adoption of ASU 2022-02	(722)		(847)		(1,711)
Provision for loan losses	47,079		8,532		153,515
Loans charged off	(4,327)		(259)		(75,218)
Recoveries of loans previously charged off	634		887		24,837
Balance, December 31, 2023	$	110,097	$	65,356	$	307,100

(dollars in thousands)	Commercial and Industrial		Consumer		Mortgage Warehouse		Municipal		Premium Finance		Real Estate – Construction and Development
Year ended December 31, 2022
Balance, January 1, 2022	$	26,829	$	6,573	$	3,231	$	401	$	2,729	$	22,045
Provision for loan losses	21,307		2,278		(1,113)		(44)		(1,317)		9,749
Loans charged off	(18,635)		(5,191)		—		—		(5,452)		(27)
Recoveries of loans previously charged off	9,954		1,927		—		—		5,065		892
Balance, December 31, 2022	$	39,455	$	5,587	$	2,118	$	357	$	1,025	$	32,659
	Real Estate – Commercial and Farmland		Real Estate – Residential		Total
Year ended December 31, 2022
Balance, January 1, 2022	$	77,831	$	27,943	$	167,582
Provision for loan losses	(7,049)		28,799		52,610
Loans charged off	(3,574)		(196)		(33,075)
Recoveries of loans previously charged off	225		497		18,560
Balance, December 31, 2022	$	67,433	$	57,043	$	205,677