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LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables)
 12 Months Ended
Dec. 31, 2024
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.
December 31,
(dollars in thousands)20242023
Commercial and industrial$2,953,135 $2,688,929 
Consumer221,735 275,809 
Mortgage warehouse965,053 818,728 
Municipal441,408 492,668 
Premium finance1,155,614 946,562 
Real estate – construction and development1,998,506 2,129,187 
Real estate – commercial and farmland8,445,958 8,059,754 
Real estate – residential4,558,497 4,857,666 
 $20,739,906 $20,269,303 
Schedule of Financial Receivable Nonaccrual Basis
The following table presents an analysis of loans accounted for on a nonaccrual basis:
December 31,
(dollars in thousands)20242023
Commercial and industrial$11,875 $8,059 
Consumer782 1,452 
Real estate – construction and development3,718 282 
Real estate – commercial and farmland11,960 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.
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 development2,624 — 
Real estate – commercial and farmland9,357 9,109 
Real estate – residential36,512 75,419 
$52,359 $86,577 
The following table presents an analysis of collateral-dependent financial assets and related allowance for credit losses:
(dollars in thousands)December 31, 2024December 31, 2023
BalanceAllowance for Credit LossesBalanceAllowance for Credit Losses
Commercial and industrial$9,451 $1,072 $5,889 $567 
Premium finance2,165 130 1,990 45 
Real estate – construction and development2,979 110 280 23 
Real estate – commercial and farmland10,882 149 11,114 108 
Real estate – residential23,983 2,302 21,102 2,654 
$49,460 $3,763 $40,375 $3,397 
Schedule of Past Due Financial Receivables
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 
Consumer2,672 557 319 3,548 218,187 221,735 — 
Mortgage warehouse— — — — 965,053 965,053 — 
Municipal— — — — 441,408 441,408 — 
Premium finance15,068 6,315 12,485 33,868 1,121,746 1,155,614 12,485 
Real estate – construction and development23,102 461 3,786 27,349 1,971,157 1,998,506 89 
Real estate – commercial and farmland6,787 2,435 5,980 15,202 8,430,756 8,445,958 — 
Real estate – residential47,020 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 
Consumer2,308 1,054 576 3,938 271,871 275,809 — 
Mortgage warehouse— — — — 818,728 818,728 — 
Municipal— — — — 492,668 492,668 — 
Premium finance12,379 6,832 11,678 30,889 915,673 946,562 11,678 
Real estate – construction and development2,094 — 282 2,376 2,126,811 2,129,187 — 
Real estate – commercial and farmland5,070 1,656 6,352 13,078 8,046,676 8,059,754 — 
Real estate – residential49,976 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 
Schedule of Credit Quality Indicate Financial Receivable
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 YearRevolving Loans Amortized Cost BasisTotal
As of December 31, 2024
20242023202220212020Prior
Commercial and Industrial
Risk Grade:
Pass$919,301 $594,485 $523,513 $246,036 $72,397 $46,358 $512,778 $2,914,868 
Special Mention892 28 1,938 1,311 777 2,960 3,319 11,225 
Substandard885 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 Mention8 — 14 — 9 61 — 92 
Substandard113 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 
Substandard12,001 483 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 YearRevolving Loans Amortized Cost BasisTotal
As of December 31, 2024
20242023202220212020Prior
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 
Substandard2,718 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 Mention900 38 5,233 16,236 15,649 68,388 4,492 110,936 
Substandard15,717 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 YearRevolving Loans Amortized Cost BasisTotal
As of December 31, 2023
20232022202120202019Prior
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 
Substandard1,512 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 YearRevolving Loans Amortized Cost BasisTotal
As of December 31, 2023
20232022202120202019Prior
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 
Substandard154 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 
Substandard10,777 901 — — — — — 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 
Substandard428 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 Mention13 — 72 201 234 1,411 380 2,311 
Substandard5,057 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 YearRevolving Loans Amortized Cost BasisTotal
As of December 31, 2023
20232022202120202019Prior
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 Mention13 17,471 59,123 293 30,543 48,737 47,545 203,725 
Substandard17,928 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 
Schedule of Troubled Debt Restructurings by Loan Class
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 DeferralTerm ExtensionInterest Rate ReductionCombination of Term Extension and Rate ReductionTotalPercentage 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 DeferralTerm ExtensionInterest Rate ReductionCombination of Term Extension and Rate ReductionTotalPercentage of Total Class of Financial Receivable
Commercial and industrial$2,212 $2,960 $— $— $5,172 0.2 %
Real estate – commercial and farmland3,905 3,101 815 — 7,821 0.1 %
Real estate – residential1,029 5,539 — 804 7,372 0.2 %
Total$7,146 $11,600 $815 $804 $20,365 0.1 %
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 TypeFinancial Effect
Commercial and industrial
Payments were deferred for a weighted average of 22 months
Term Extension
Loan TypeFinancial 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 TypeFinancial Effect
Real estate - residential
Interest rate was reduced by 2.87%
Combination of Term Extension and Rate Reduction
Loan TypeFinancial 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 TypeFinancial 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 TypeFinancial 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 TypeFinancial Effect
Real estate – commercial and farmland
Interest rate was reduced by 4.75%.
Combination of Term Extension and Rate Reduction
Loan TypeFinancial 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)Current30-59
Days Past Due		60-89
Days Past Due		90 or More Days Past DueTotal
Commercial and industrial$586 $— $— $— $586 
Real estate – commercial and farmland— 603 — — 603 
Real estate – residential8,916 3,992 — 4,048 16,956 
Total$9,502 $4,595 $— $4,048 $18,145 

As of December 31, 2023
(dollars in thousands)Current30-59
Days Past Due		60-89
Days Past Due		90 or More Days Past DueTotal
Commercial and industrial$4,018 $355 $— $799 $5,172 
Real estate – commercial and farmland6,692 1,129 — — 7,821 
Real estate – residential5,113 711 442 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 ReductionTerm ExtensionPayment DeferralCombination of Term Extension and Rate ReductionTotal
Commercial and industrial$— $— $1,038 $— $1,038 
Real estate – commercial and farmland— 603 — — 603 
Real estate – residential499 6,746 — 2,233 9,478 
Total$499 $7,349 $1,038 $2,233 $11,119 
As of December 31, 2023
(dollars in thousands)Interest Rate ReductionTerm ExtensionPayment DeferralCombination of Term Extension and Rate ReductionTotal
Commercial and industrial$— $— $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 
Schedule of Changes in Related Party Loans Changes in related party loans are summarized as follows:
December 31,
(dollars in thousands)20242023
Balance, January 1$140,057 $80,746 
Advances49,158 61,764 
Repayments(4,354)(2,453)
Transactions due to changes in related parties(570)— 
Ending balance$184,291 $140,057 
Schedule of Allowances for Loan Losses by Portfolio Segment
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 IndustrialConsumerMortgage WarehouseMunicipalPremium FinanceReal 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 losses59,726 5,967 584 (287)608 (655)
Loans charged off(53,875)(4,012)— — (9,554)— 
Recoveries of loans previously charged off17,338 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 losses7,677 (3,779)69,841 
Loans charged off(571)(102)(68,114)
Recoveries of loans previously charged off1,174 186 29,257 
Balance, December 31, 2024$118,377 $61,661 $338,084 
(dollars in thousands)Commercial and IndustrialConsumerMortgage WarehouseMunicipalPremium FinanceReal 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 losses68,349 2,218 (440)(12)343 27,446 
Loans charged off(58,612)(5,453)— — (6,567)— 
Recoveries of loans previously charged off14,966 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 losses47,079 8,532 153,515 
Loans charged off(4,327)(259)(75,218)
Recoveries of loans previously charged off634 887 24,837 
Balance, December 31, 2023$110,097 $65,356 $307,100 

(dollars in thousands)Commercial and IndustrialConsumerMortgage WarehouseMunicipalPremium FinanceReal 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 losses21,307 2,278 (1,113)(44)(1,317)9,749 
Loans charged off(18,635)(5,191)— — (5,452)(27)
Recoveries of loans previously charged off9,954 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 off225 497 18,560 
Balance, December 31, 2022$67,433 $57,043 $205,677