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LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables)
 9 Months Ended
Sep. 30, 2025
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)September 30, 2025December 31, 2024
Commercial and industrial$3,299,269 $2,953,135 
Consumer202,688 221,735 
Mortgage warehouse1,083,941 965,053 
Municipal437,823 441,408 
Premium finance1,358,259 1,155,614 
Real estate – construction and development1,411,178 1,998,506 
Real estate – commercial and farmland9,054,927 8,445,958 
Real estate – residential4,410,289 4,558,497 
Loans, net of unearned income$21,258,374 $20,739,906 
Schedule of Financial Receivable Nonaccrual Basis
The following table presents an analysis of loans accounted for on a nonaccrual basis:

(dollars in thousands)September 30, 2025December 31, 2024
Commercial and industrial$12,238 $11,875 
Consumer 715 782 
Real estate – construction and development951 3,718 
Real estate – commercial and farmland6,760 11,960 
Real estate – residential(1)
76,299 73,883 
$96,963 $102,218 
(1) Included in real estate - residential were $19.7 million and $12.0 million of serviced GNMA-guaranteed nonaccrual loans at September 30, 2025 and December 31, 2024, respectively.
The following table presents an analysis of nonaccrual loans with no related allowance for credit losses:

(dollars in thousands)September 30, 2025December 31, 2024
Commercial and industrial$2,306 $3,866 
Real estate – construction and development— 2,624 
Real estate – commercial and farmland4,414 9,357 
Real estate – residential40,600 36,512 
$47,320 $52,359 
The following table presents an analysis of individually evaluated collateral-dependent financial assets and related allowance for credit losses:

September 30, 2025December 31, 2024
(dollars in thousands)BalanceAllowance for Credit LossesBalanceAllowance for Credit Losses
Commercial and industrial$3,976 $812 $9,451 $1,072 
Premium finance1,274 1 2,165 130 
Real estate – construction and development585 124 2,979 110 
Real estate – commercial and farmland5,379 263 10,882 149 
Real estate – residential23,058 2,003 23,983 2,302 
$34,272 $3,203 $49,460 $3,763 
Schedule of Past Due Financial Receivables
The following table presents an analysis of past-due loans as of September 30, 2025 and December 31, 2024:

(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
September 30, 2025       
Commercial and industrial$7,687 $5,410 $9,567 $22,664 $3,276,605 $3,299,269 $— 
Consumer 619 546 167 1,332 201,356 202,688 — 
Mortgage warehouse— — — — 1,083,941 1,083,941 — 
Municipal— — — — 437,823 437,823 — 
Premium finance15,247 7,516 9,325 32,088 1,326,171 1,358,259 9,325 
Real estate – construction and development275 41 906 1,222 1,409,956 1,411,178 — 
Real estate – commercial and farmland4,307 4,462 5,424 14,193 9,040,734 9,054,927 — 
Real estate – residential39,501 22,643 71,928 134,072 4,276,217 4,410,289 — 
Total$67,636 $40,618 $97,317 $205,571 $21,052,803 $21,258,374 $9,325 
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 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 
Schedule 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 September 30, 2025 and December 31, 2024. 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 doubtful or loss at September 30, 2025 or December 31, 2024.
As of September 30, 2025
Term Loans by Origination YearRevolving Loans Amortized Cost Basis
20252024202320222021PriorTotal
Commercial and Industrial
Risk Grade:
Pass$788,552 $691,070 $453,186 $441,682 $173,241 $77,876 $649,545 $3,275,152 
Special mention288 547 21 956 1,134 1,331 340 4,617 
Substandard2 2,503 8,230 1,378 3,238 3,085 1,064 19,500 
Total commercial and industrial$788,842 $694,120 $461,437 $444,016 $177,613 $82,292 $650,949 $3,299,269 
Current-period gross charge offs$581 $7,116 $9,650 $10,872 $3,267 $882 $— $32,368 
Consumer
Risk Grade:
Pass$68,145 $14,533 $10,944 $4,424 $1,271 $32,224 $69,753 $201,294 
Special mention— — — 10 — 49 — 59 
Substandard156 113 197 68 35 698 68 1,335 
Total consumer$68,301 $14,646 $11,141 $4,502 $1,306 $32,971 $69,821 $202,688 
Current-period gross charge offs$93 $585 $302 $298 $47 $1,248 $— $2,573 
Mortgage Warehouse
Risk Grade:
Pass$— $— $— $— $— $— $1,083,941 $1,083,941 
Total mortgage warehouse$— $— $— $— $— $— $1,083,941 $1,083,941 
Current-period gross charge offs$— $— $— $— $— $— $— $— 
Municipal
Risk Grade:
Pass$26,361 $26,869 $8,847 $43,273 $35,159 $296,495 $819 $437,823 
Total municipal$26,361 $26,869 $8,847 $43,273 $35,159 $296,495 $819 $437,823 
Current-period gross charge offs$— $— $— $— $— $— $— $— 
Premium Finance
Risk Grade:
Pass$1,307,446 $41,062 $426 $— $— $— $— $1,348,934 
Substandard6,605 2,720 — — — — — 9,325 
Total premium finance$1,314,051 $43,782 $426 $— $— $— $— $1,358,259 
Current-period gross charge offs$666 $6,144 $207 $1 $— $— $— $7,018 
As of September 30, 2025
Term Loans by Origination YearRevolving Loans Amortized Cost Basis
20252024202320222021PriorTotal
Real Estate – Construction and Development
Risk Grade:
Pass$472,897 $393,261 $64,431 $226,959 $133,106 $42,682 $74,186 $1,407,522 
Special mention— — — 674 — 1,884 — 2,558 
Substandard— 259 103 4 335 397 — 1,098 
Total real estate – construction and development$472,897 $393,520 $64,534 $227,637 $133,441 $44,963 $74,186 $1,411,178 
Current-period gross charge offs$— $— $— $— $— $— $— $— 
Real Estate – Commercial and Farmland
Risk Grade:
Pass$662,584 $312,169 $462,341 $2,855,930 $2,073,773 $2,511,001 $102,152 $8,979,950 
Special mention— — — 869 17,332 9,803 — 28,004 
Substandard9,000 344 1,538 17,468 2,985 15,538 100 46,973 
Total real estate – commercial and farmland$671,584 $312,513 $463,879 $2,874,267 $2,094,090 $2,536,342 $102,252 $9,054,927 
Current-period gross charge offs$— $— $— $— $— $692 $— $692 
Real Estate - Residential
Risk Grade:
Pass$186,091 $163,408 $557,611 $1,196,831 $983,717 $921,533 $314,651 $4,323,842 
Special mention— — 8 48 43 1,171 728 1,998 
Substandard1,455 8,082 9,874 17,411 10,198 29,634 7,795 84,449 
Total real estate - residential$187,546 $171,490 $567,493 $1,214,290 $993,958 $952,338 $323,174 $4,410,289 
Current-period gross charge offs$— $57 $171 $192 $— $170 $— $590 
Total Loans
Risk Grade:
Pass$3,512,076 $1,642,372 $1,557,786 $4,769,099 $3,400,267 $3,881,811 $2,295,047 $21,058,458 
Special mention288 547 29 2,557 18,509 14,238 1,068 37,236 
Substandard17,218 14,021 19,942 36,329 16,791 49,352 9,027 162,680 
Total loans$3,529,582 $1,656,940 $1,577,757 $4,807,985 $3,435,567 $3,945,401 $2,305,142 $21,258,374 
Total current-period gross charge offs$1,340 $13,902 $10,330 $11,363 $3,314 $2,992 $— $43,241 
As of December 31, 2024
Term Loans by Origination YearRevolving Loans Amortized Cost Basis
20242023202220212020PriorTotal
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 
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 $221,735 
Mortgage Warehouse
Risk Grade:
Pass$— $— $— $— $— $— $965,053 $965,053 
Total mortgage warehouse$— $— $— $— $— $— $965,053 $965,053 
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 
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 
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 
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 
As of December 31, 2024
Term Loans by Origination YearRevolving Loans Amortized Cost Basis
20242023202220212020PriorTotal
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 
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 
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 September 30, 2025
(dollars in thousands)Commercial and IndustrialConsumerMortgage WarehouseMunicipalPremium FinanceReal Estate – Construction and Development
Balance, June 30, 2025$88,985 $6,573 $2,280 $58 $783 $47,306 
Provision for loan losses6,570 (630)(72)— 268 2,925 
Loans charged off(9,992)(720)— — (1,970)— 
Recoveries of loans previously charged off3,786 237 — — 1,779 27 
Balance, September 30, 2025$89,349 $5,460 $2,208 $58 $860 $50,258 
Real Estate –
Commercial and
Farmland		Real Estate –
Residential		Total
Balance, June 30, 2025$127,794 $67,788 $341,567 
Provision for loan losses2,002 113 11,176 
Loans charged off(692)(257)(13,631)
Recoveries of loans previously charged off114 239 6,182 
Balance, September 30, 2025$129,218 $67,883 $345,294 
Nine Months Ended September 30, 2025
(dollars in thousands)Commercial
and Industrial		ConsumerMortgage WarehouseMunicipalPremium FinanceReal Estate – Construction and Development
Balance, December 31, 2024$87,242 $7,327 $2,262 $58 $736 $60,421 
Provision for loan losses22,303 (77)(54)— 1,030 (10,199)
Loans charged off(32,368)(2,573)— — (7,018)— 
Recoveries of loans previously charged off12,172 783 — — 6,112 36 
Balance, September 30, 2025$89,349 $5,460 $2,208 $58 $860 $50,258 
Real Estate –
Commercial and
Farmland		Real Estate –
Residential		Total
Balance, December 31, 2024$118,377 $61,661 $338,084 
Provision for loan losses11,317 6,485 30,805 
Loans charged off(692)(590)(43,241)
Recoveries of loans previously charged off216 327 19,646 
Balance, September 30, 2025$129,218 $67,883 $345,294 
Three Months Ended September 30, 2024
(dollars in thousands)Commercial and IndustrialConsumerMortgage WarehouseMunicipalPremium FinanceReal Estate – Construction and Development
Balance, June 30, 2024$66,542 $3,479 $2,142 $60 $702 $77,482 
Provision for loan losses8,463 1,222 30 137 180 (2,506)
Loans charged off(12,316)(853)— — (2,102)— 
Recoveries of loans previously charged off4,979 309 — — 1,860 6 
Balance, September 30, 2024$67,668 $4,157 $2,172 $197 $640 $74,982 
Real Estate –
Commercial and
Farmland		Real Estate –
Residential		Total
Balance, June 30, 2024$121,963 $63,848 $336,218 
Provision for loan losses(1,885)672 6,313 
Loans charged off(58)(23)(15,352)
Recoveries of loans previously charged off61 63 7,278 
Balance, September 30, 2024$120,081 $64,560 $334,457 
Nine Months Ended September 30, 2024
(dollars in thousands)Commercial
and Industrial		ConsumerMortgage WarehouseMunicipalPremium FinanceReal Estate – Construction and Development
Balance, December 31, 2023$64,053 $3,952 $1,678 $345 $602 $61,017 
Provision for loan losses31,479 2,102 494 (148)343 13,911 
Loans charged off(40,150)(2,974)— — (6,910)— 
Recoveries of loans previously charged off12,286 1,077 — — 6,605 54 
Balance, September 30, 2024$67,668 $4,157 $2,172 $197 $640 $74,982 
Real Estate –
Commercial and
Farmland		Real Estate –
Residential		Total
Balance, December 31, 2023$110,097 $65,356 $307,100 
Provision for loan losses9,900 (897)57,184 
Loans charged off(571)(49)(50,654)
Recoveries of loans previously charged off655 150 20,827 
Balance, September 30, 2024$120,081 $64,560 $334,457 
Schedule of Troubled Debt Restructurings by Loan Class
The following table shows 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 three and nine months ended September 30, 2025 and 2024:

Three Months Ended September 30, 2025
(dollars in thousands)Payment DeferralTerm ExtensionCombination Payment Deferral and Rate ReductionCombination Payment Deferral and Term ExtensionCombination of Term Extension and Rate ReductionTotalPercentage of Total Class of Financial Receivable
Real estate – residential$1,155 $1,749 $— $— $725 $3,629 0.1 %
Total$1,155 $1,749 $— $— $725 $3,629 — %
Nine Months Ended September 30, 2025
(dollars in thousands)Payment DeferralTerm ExtensionCombination Payment Deferral and Rate ReductionCombination Payment Deferral and Term ExtensionCombination of Term Extension and Rate ReductionTotalPercentage of Total Class of Financial Receivable
Commercial and industrial$— $5,747 $— $— $— $5,747 0.2 %
Real estate – commercial and farmland— 700 — 9,690 — 10,390 0.1 %
Real estate – residential2,265 5,275 505 — 2,023 10,068 0.2 %
Total$2,265 $11,722 $505 $9,690 $2,023 $26,205 0.1 %

Three Months Ended September 30, 2024
(dollars in thousands)Payment DeferralTerm ExtensionInterest Rate ReductionCombination of Term Extension and Rate ReductionTotalPercentage of Total Class of Financial Receivable
Real estate – residential$— $3,185 $835 $2,833 $6,853 0.1 %
Total$— $3,185 $835 $2,833 $6,853 — %

Nine Months Ended September 30, 2024
(dollars in thousands)Payment DeferralTerm ExtensionInterest Rate ReductionCombination of Term Extension and Rate ReductionTotalPercentage of Total Class of Financial Receivable
Commercial and industrial$605 $— $— $— $605 — %
Real estate – residential— 8,671 1,336 4,170 14,177 0.3 %
Total$605 $8,671 $1,336 $4,170 $14,782 0.1 %
The following table describes the financial effect of the modifications made to borrowers experiencing financial difficulty during the three and nine months ended September 30, 2025 and 2024, respectively:

Three Months Ended September 30, 2025
Loan TypeFinancial Effect
Payment Deferral
Real estate – residential
Payments were deferred for a weighted average 10 months
Term Extension
Real estate – residential
Maturity dates were extended for a weighted average of 67 months
Combination Term Extension and Rate Reduction
Real estate – residential
Maturity dates were extended for a weighted average 36 months and rate was reduced by a weighted average 2.75%

Nine Months Ended September 30, 2025
Loan TypeFinancial Effect
Payment Deferral
Real estate – residential
Payments were deferred for a weighted average of 9 months
Term Extension
Commercial and industrial
Maturity dates were extended for a weighted average of 13 months
Real estate – commercial and farmland
Maturity dates were extended for a weighted average of 9 months
Real estate – residential
Maturity dates were extended for a weighted average of 83 months
Combination Payment Deferral and Term Extension
Real estate – commercial and farmland
Maturity dates were extended for a weighted average 3 months and payments were deferred for 12 months
Combination Term Extension and Rate Reduction
Real estate – residential
Maturity dates were extended for a weighted average 37 months and rate was reduced by a weighted average 1.42%
Combination Payment Deferral and Rate Reduction
Real estate – residential
Payments were deferred for 7 months and rate was reduced by a weighted average 1.50%
Three Months Ended September 30, 2024
Loan TypeFinancial Effect
Interest Rate Reduction
Real estate – residential
Rate was reduced by 3.63%
Term Extension
Real estate – residential
Maturity dates were extended for a weighted average of 94 months
Combination Term Extension and Rate Reduction
Real estate – residential
Maturity dates were extended for a weighted average 101 months and rate was reduced by a weighted average 2.35%

Nine Months Ended September 30, 2024
Loan TypeFinancial Effect
Interest Rate Reduction
Real estate – residential
Rate was reduced by a weighted average 2.88%
Payment Deferral
Commercial and industrial
Payments were deferred for 16 months
Term Extension
Real estate – residential
Maturity dates were extended for a weighted average of 89 months
Combination Term Extension and Rate Reduction
Real estate – residential
Maturity dates were extended for a weighted average 104 months and rate was reduced by a weighted average 2.51%

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 September 30, 2025

(dollars in thousands)
Current30-59
Days Past Due		60-89
Days Past Due		90 or More Days Past DueTotal
Commercial and industrial$5,747 $— $— $— $5,747 
Real estate – commercial and farmland10,608 — 329 — 10,937 
Real estate – residential6,376 4,201 2,270 4,817 17,664 
Total$22,731 $4,201 $2,599 $4,817 $34,348 

As of September 30, 2024

(dollars in thousands)
Current30-59
Days Past Due		60-89
Days Past Due		90 or More Days Past DueTotal
Commercial and industrial$2,343 $959 $— $— $3,302 
Real estate – commercial and farmland2,544 — — — 2,544 
Real estate – residential11,189 2,872 615 2,572 17,248 
Total$16,076 $3,831 $615 $2,572 $23,094 
The following table provides the amortized cost basis of financing receivables that had a payment default during the three months ended September 30, 2025 and were modified in the 12 months before default to borrowers experiencing financial difficulty.

(dollars in thousands)Term ExtensionPayment DeferralCombination of Payment Deferral and Term ExtensionCombination of Term Extension and Rate ReductionCombination Payment Deferral and Rate ReductionTotal
Real estate – commercial and farmland$— $— $329 $— $— $329 
Real estate – residential5,128 1,638 — 4,017 505 $11,288 
Total$5,128 $1,638 $329 $4,017 $505 $11,617 
The following table provides the amortized cost basis of financing receivables that had a payment default during the nine months ended September 30, 2025 and were modified in the 12 months before default to borrowers experiencing financial difficulty.
(dollars in thousands)Term ExtensionPayment DeferralCombination of Payment Deferral and Term ExtensionCombination of Term Extension and Rate ReductionCombination Payment Deferral and Rate ReductionTotal
Real estate – commercial and farmland$547 $— $329 $— $— 876 
Real estate – residential5,711 1,638 — 4,017 505 $11,871 
Total$6,258 $1,638 $329 $4,017 $505 $12,747 

The following table provides the amortized cost basis of financing receivables that had a payment default during three months ended September 30, 2024 and were modified in the 12 months before default to borrowers experiencing financial difficulty.
(dollars in thousands)Interest Rate ReductionTerm ExtensionPayment DeferralCombination of Term Extension and Rate ReductionTotal
Commercial and industrial$— $— $959 $— $959 
Real estate – commercial and farmland815 — — — 815 
Real estate – residential— 5,793 — 2,233 8,026 
Total$815 $5,793 $959 $2,233 $9,800 

The following table provides the amortized cost basis of financing receivables that had a payment default during nine months ended September 30, 2024 and were modified in the 12 months before default to borrowers experiencing financial difficulty.

(dollars in thousands)Interest Rate ReductionTerm ExtensionPayment DeferralCombination of Term Extension and Rate ReductionTotal
Commercial and industrial$— $— $1,056 $— $1,056 
Real estate – commercial and farmland815 — — — 815 
Real estate – residential— 6,400 — 2,233 8,633 
Total$815 $6,400 $1,056 $2,233 $10,504