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Loans (Tables)

12 Months Ended

Dec. 31, 2023

Year-end loans, including leases net of unearned discounts, consisted of the following:


	2023		2022
Commercial and industrial	$	5,959,133	$	5,674,798
Energy:
Production	681,568		696,570
Service	192,654		133,542
Other	61,043		95,617
Total energy	935,265		925,729
Paycheck Protection Program (“PPP”)	9,521		34,852
Commercial real estate:
Commercial mortgages	6,746,709		6,168,910
Construction	1,680,724		1,477,247
Land	555,211		537,168
Total commercial real estate	8,982,644		8,183,325
Consumer real estate:
Home equity lines of credit	792,876		691,841
Home equity loans	694,966		449,507
Home improvement loans	765,887		577,377
Other	206,997		124,814
Total consumer real estate	2,460,726		1,843,539
Total real estate	11,443,370		10,026,864
Consumer and other	476,962		492,726
Total loans	$	18,824,251	$	17,154,969

Activities in Related Party Loans

Activity in related party loans during 2023 is presented in the following table. Other changes were primarily related to changes in related-party status.


Balance outstanding at December 31, 2022	$	391,255
Principal additions	322,183
Principal payments	(299,338)
Other changes	2,007
Balance outstanding at December 31, 2023	$	416,107

Non-Accrual Loans, Segregated by Class of Loans

Year-end non-accrual loans, segregated by class of loans, were as follows:


	December 31, 2023				December 31, 2022
	Total Non-Accrual		Non-Accrual with No Credit Loss Allowance		Total Non-Accrual		Non-Accrual with No Credit Loss Allowance
Commercial and industrial	$	19,545	$	5,391	$	18,130	$	8,514
Energy	11,500		7,398		15,224		7,139

Commercial real estate:
Buildings, land and other	22,420		4,983		3,552		1,991
Construction	—		—		—		—
Consumer real estate	7,442		5,160		927		927
Consumer and other	—		—		—		—
Total	$	60,907	$	22,932	$	37,833	$	18,571

Financing Receivable, Non-Accrual Loans, Segregated by Class of Loan and Year of Origination

The following tables present non-accrual loans as of December 31, 2023 and December 31, 2022 by class and year of origination.


	December 31, 2023
	2023		2022		2021		2020		2019		Prior		Revolving Loans		Revolving Loans Converted to Term		Total
Commercial and industrial	$	—	$	359	$	1,635	$	985	$	1,257	$	1,006	$	9	$	14,294	$	19,545
Energy	5,875		—		—		56		1,321		—		4,102		146		11,500

Commercial real estate:
Buildings, land and other	20,099		—		150		—		1,451		720		—		—		22,420
Construction	—		—		—		—		—		—		—		—		—
Consumer real estate	—		—		—		38		2,281		483		1,600		3,040		7,442
Consumer and other	—		—		—		—		—		—		—		—		—
Total	$	25,974	$	359	$	1,785	$	1,079	$	6,310	$	2,209	$	5,711	$	17,480	$	60,907


	December 31, 2022
	2022		2021		2020		2019		2018		Prior		Revolving Loans		Revolving Loans Converted to Term		Total
Commercial and industrial	$	—	$	1,252	$	1,089	$	3,242	$	1,197	$	191	$	2,973	$	8,186	$	18,130
Energy	4,657		—		72		1,386		10		—		7,631		1,468		15,224

Commercial real estate:
Buildings, land and other	1,644		—		—		217		266		1,425		—		—		3,552
Construction	—		—		—		—		—		—		—		—		—
Consumer real estate	—		258		—		—		—		84		—		585		927
Consumer and other	—		—		—		—		—		—		—		—		—
Total	$	6,301	$	1,510	$	1,161	$	4,845	$	1,473	$	1,700	$	10,604	$	10,239	$	37,833

Age Analysis of Past Due Loans, Segregated by Class of Loans

An age analysis of past due loans (including both accruing and non-accruing loans), segregated by class of loans, as of December 31, 2023 is presented in the following table. Despite their past due status, PPP loans are fully guaranteed by the Small Business Administration (“SBA”).


	Loans 30-89 Days Past Due		Loans 90 or More Days Past Due		Total Past Due Loans		Current Loans		Total Loans		Accruing Loans 90 or More Days Past Due
Commercial and industrial	$	27,551	$	21,705	$	49,256	$	5,909,877	$	5,959,133	$	5,503
Energy	6,387		6,771		13,158		922,107		935,265		1,146
Paycheck Protection Program	61		1,954		2,015		7,506		9,521		1,954
Commercial real estate:
Buildings, land and other	20,224		1,610		21,834		7,280,086		7,301,920		92
Construction	4,878		3,498		8,376		1,672,348		1,680,724		3,498
Consumer real estate	12,504		7,716		20,220		2,440,506		2,460,726		2,589
Consumer and other	6,495		251		6,746		470,216		476,962		251
Total	$	78,100	$	43,505	$	121,605	$	18,702,646	$	18,824,251	$	15,033

Modification to Borrowers Experiencing Financial Difficulty

The period-end balance of loan modifications, segregated by type of modification, to borrowers experiencing financial difficulty during 2023 and 2022 are set forth in the table below, regardless of whether such modifications resulted in a new loan. There were no commitments to lend additional funds to these borrowers at December 31, 2023.


	Payment Delay		Percent of Total Class of Loans		Combination: Payment Delay and Term Extension		Percent of Total Class of Loans		Combination: Interest Rate Reduction and Term Extension		Percent of Total Class of Loans
December 31, 2023
Commercial and industrial	$	—	—	%	$	13,813	0.2	%	$	—	—	%


Commercial real estate:
Buildings, land, and other	—		—		19,438		0.3		2,092		—



	$	—	—		$	33,251	0.2		$	2,092	—
December 31, 2022



Commercial real estate:
Buildings, land, and other	$	1,051	—		$	—	—		$	—	—



	$	1,051	—		$	—	—		$	—	—

Financing Receivables, Modified Loans by Type of Modification

Information as of or for the years ended December 31, 2023, 2022, or 2021 related to loans modified (by type of modification) in the preceding twelve months, respectively, whereby the borrower was experiencing financial difficulty at the time of modification is set forth in the following table.


	Payment Delay		Combination: Payment Delay and Term Extension		Combination: Interest Rate Reduction and Term Extension
2023
Past due in excess of 90 days or on non-accrual status at period-end:
Commercial and industrial	$	—	$	13,813	$	—

Commercial real estate:
Buildings, land, and other	—		19,438		—



	$	—	$	33,251	$	—


















2022
Past due in excess of 90 days or on non-accrual status at period-end:


Commercial real estate:
Buildings, land, and other	$	1,051	$	—	$	—



	$	1,051	$	—	$	—
Charge-offs during the period:


Commercial real estate:
Buildings, land, and other	$	371	$	352	$	—



	$	371	$	352	$	—
Proceeds from sales:


Commercial real estate:
Buildings, land, and other	$	—	$	1,070	$	—



	$	—	$	1,070	$	—
2021
Past due in excess of 90 days or on non-accrual status at period-end:
Commercial and industrial	$	1,162	$	—	$	—
Energy	721		—		—
Commercial real estate:
Buildings, land, and other	306		1,556		—



	$	2,189	$	1,556	$	—
Charge-offs during the period:

Energy	$	4,278	$	—	$	—





	$	4,278	$	—	$	—

Weighted Average Risk Grades for All Commercial Loans by Class and Year of Origination

The following tables present weighted-average risk grades for all commercial loans, by class and year of origination/renewal as of December 31, 2023 and 2022. PPP loans are excluded as such loans are fully guaranteed by the SBA.


	December 31, 2023
	2023		2022		2021		2020		2019		Prior		Revolving Loans		Revolving Loans Converted to Term		Total
Commercial and industrial
Risk grades 1-8	$	1,489,026	$	706,210	$	450,806	$	349,744	$	172,656	$	206,643	$	2,083,490	$	41,254	$	5,499,829
Risk grade 9	57,625		42,618		12,258		4,952		1,641		10,383		70,142		5,625		205,244
Risk grade 10	63,205		2,222		1,307		911		4,005		581		35,977		1,046		109,254
Risk grade 11	9,450		16,837		25,932		7,854		2,530		1,153		58,134		3,371		125,261
Risk grade 12	—		359		1,635		950		1,257		1,006		1		11,894		17,102
Risk grade 13	—		—		—		35		—		—		8		2,400		2,443
	$	1,619,306	$	768,246	$	491,938	$	364,446	$	182,089	$	219,766	$	2,247,752	$	65,590	$	5,959,133
W/A risk grade	6.53		7.05		7.26		5.87		6.01		6.04		6.50		8.48		6.60
Energy
Risk grades 1-8	$	270,710	$	54,185	$	73,532	$	3,673	$	1,819	$	4,047	$	451,897	$	9,886	$	869,749
Risk grade 9	1,137		7,315		1,041		—		456		—		17,680		14		27,643
Risk grade 10	—		—		33		—		291		494		—		—		818
Risk grade 11	—		—		25		106		2,989		—		21,650		785		25,555
Risk grade 12	5,875		—		—		56		1,321		—		1,402		146		8,800
Risk grade 13	—		—		—		—		—		—		2,700		—		2,700
	$	277,722	$	61,500	$	74,631	$	3,835	$	6,876	$	4,541	$	495,329	$	10,831	$	935,265
W/A risk grade	6.19		7.07		6.00		6.99		10.02		7.07		5.75		7.33		6.05
Commercial real estate:
Buildings, land, other
Risk grades 1-8	$	1,601,175	$	1,667,750	$	1,186,559	$	747,289	$	503,303	$	874,942	$	214,874	$	99,466	$	6,895,358
Risk grade 9	12,173		68,007		28,870		13,250		16,272		23,214		11,143		541		173,470
Risk grade 10	7,671		29,278		17,364		34,672		747		3,153		3,716		—		96,601
Risk grade 11	4,105		20,589		20,119		16,363		793		51,739		—		363		114,071
Risk grade 12	17,449		—		150		—		1,451		720		—		—		19,770
Risk grade 13	2,650		—		—		—		—		—		—		—		2,650
	$	1,645,223	$	1,785,624	$	1,253,062	$	811,574	$	522,566	$	953,768	$	229,733	$	100,370	$	7,301,920
W/A risk grade	7.23		7.18		7.29		7.22		6.90		7.16		7.49		6.77		7.20
Construction
Risk grades 1-8	$	538,072	$	537,705	$	264,770	$	28,063	$	296	$	1,613	$	155,567	$	—	$	1,526,086
Risk grade 9	3,414		35,565		79,871		—		—		—		8,252		—		127,102
Risk grade 10	13,322		—		—		—		—		—		3,713		—		17,035
Risk grade 11	5,912		3,104		—		—		—		—		1,485		—		10,501
Risk grade 12	—		—		—		—		—		—		—		—		—
Risk grade 13	—		—		—		—		—		—		—		—		—
	$	560,720	$	576,374	$	344,641	$	28,063	$	296	$	1,613	$	169,017	$	—	$	1,680,724
W/A risk grade	7.44		7.44		7.93		2.55		7.22		6.78		7.34		—		7.45
Total commercial real estate	$	2,205,943	$	2,361,998	$	1,597,703	$	839,637	$	522,862	$	955,381	$	398,750	$	100,370	$	8,982,644
W/A risk grade	7.28		7.24		7.43		7.07		6.90		7.15		7.43		6.77		7.24


	December 31, 2022
	2022		2021		2020		2019		2018		Prior		Revolving Loans		Revolving Loans Converted to Term		Total
Commercial and industrial
Risk grades 1-8	$	1,667,274	$	618,756	$	485,908	$	226,835	$	123,768	$	192,791	$	2,068,891	$	51,694	$	5,435,917
Risk grade 9	31,275		34,950		3,651		5,400		11,006		1,014		54,856		4,040		146,192
Risk grade 10	2,294		724		845		4,713		1,341		114		23,880		3,685		37,596
Risk grade 11	2,342		1,357		6,720		1,807		1,229		1,644		19,582		2,282		36,963
Risk grade 12	—		1,052		866		2,972		1,177		191		673		5,590		12,521
Risk grade 13	—		200		223		270		20		—		2,300		2,596		5,609
	$	1,703,185	$	657,039	$	498,213	$	241,997	$	138,541	$	195,754	$	2,170,182	$	69,887	$	5,674,798
W/A risk grade	6.37		7.05		6.01		6.59		6.87		5.55		6.26		7.68		6.39
Energy
Risk grades 1-8	$	338,050	$	99,089	$	4,917	$	3,138	$	2,020	$	2,850	$	393,957	$	43,161	$	887,182
Risk grade 9	1,561		1,611		166		562		748		—		6,434		30		11,112
Risk grade 10	—		—		—		428		214		—		—		—		642
Risk grade 11	7,956		162		157		3,145		86		63		—		—		11,569
Risk grade 12	3,995		—		72		1,386		10		—		4,571		806		10,840
Risk grade 13	662		—		—		—		—		—		3,060		662		4,384
	$	352,224	$	100,862	$	5,312	$	8,659	$	3,078	$	2,913	$	408,022	$	44,659	$	925,729
W/A risk grade	6.09		5.65		7.65		9.64		8.02		6.59		5.18		5.69		5.67
Commercial real estate:
Buildings, land, other
Risk grades 1-8	$	1,811,069	$	1,484,811	$	956,567	$	708,942	$	360,154	$	800,944	$	111,778	$	105,763	$	6,340,028
Risk grade 9	52,288		13,139		36,264		22,086		17,699		45,590		652		2,210		189,928
Risk grade 10	26,688		11,150		3,735		9,008		29,683		5,221		5,535		—		91,020
Risk grade 11	10,199		19,073		12,631		4,778		2,525		28,841		2,993		510		81,550
Risk grade 12	1,049		—		—		217		266		1,425		—		—		2,957
Risk grade 13	595		—		—		—		—		—		—		—		595
	$	1,901,888	$	1,528,173	$	1,009,197	$	745,031	$	410,327	$	882,021	$	120,958	$	108,483	$	6,706,078
W/A risk grade	7.01		7.26		7.14		7.01		7.33		6.94		7.38		6.43		7.09
Construction
Risk grades 1-8	$	640,948	$	489,391	$	128,788	$	2,236	$	486	$	1,726	$	163,293	$	3,144	$	1,430,012
Risk grade 9	12,865		2,100		2,100		—		—		—		17,887		—		34,952
Risk grade 10	859		72		—		—		—		—		—		—		931
Risk grade 11	11,352		—		—		—		—		—		—		—		11,352
Risk grade 12	—		—		—		—		—		—		—		—		—
Risk grade 13	—		—		—		—		—		—		—		—		—
	$	666,024	$	491,563	$	130,888	$	2,236	$	486	$	1,726	$	181,180	$	3,144	$	1,477,247
W/A risk grade	7.29		7.03		6.43		7.04		6.00		6.76		7.23		5.03		7.12
Total commercial real estate	$	2,567,912	$	2,019,736	$	1,140,085	$	747,267	$	410,813	$	883,747	$	302,138	$	111,627	$	8,183,325
W/A risk grade	7.08		7.20		7.06		7.01		7.33		6.94		7.29		6.39		7.10

Age analysis of Past Due Consumer Loans by Class and Year of Origination

Information about the payment status of consumer loans, segregated by portfolio segment and year of origination, as of December 31, 2023 and December 31, 2022 was as follows:


	December 31, 2023
	2023		2022		2021		2020		2019		Prior		Revolving Loans		Revolving Loans Converted to Term		Total
Consumer real estate:
Past due 30-89 days	$	874	$	2,066	$	1,318	$	959	$	537	$	2,641	$	3,570	$	539	$	12,504
Past due 90 or more days	—		512		626		38		—		887		2,566		3,087		7,716
Total past due	874		2,578		1,944		997		537		3,528		6,136		3,626		20,220
Current loans	579,505		432,719		281,820		170,225		58,744		134,319		775,465		7,709		2,440,506
Total	$	580,379	$	435,297	$	283,764	$	171,222	$	59,281	$	137,847	$	781,601	$	11,335	$	2,460,726
Consumer and other:
Past due 30-89 days	$	3,014	$	488	$	148	$	66	$	28	$	40	$	2,553	$	158	$	6,495
Past due 90 or more days	153		—		27		—		20		—		51		—		251
Total past due	3,167		488		175		66		48		40		2,604		158		6,746
Current loans	67,272		28,885		6,290		3,581		1,199		1,230		339,789		21,970		470,216
Total	$	70,439	$	29,373	$	6,465	$	3,647	$	1,247	$	1,270	$	342,393	$	22,128	$	476,962


	December 31, 2022
	2022		2021		2020		2019		2018		Prior		Revolving Loans		Revolving Loans Converted to Term		Total
Consumer real estate:
Past due 30-89 days	$	793	$	1,125	$	645	$	936	$	503	$	2,087	$	565	$	1,202	$	7,856
Past due 90 or more days	95		258		28		—		129		919		347		914		2,690
Total past due	888		1,383		673		936		632		3,006		912		2,116		10,546
Current loans	403,587		313,222		194,900		70,723		38,904		122,585		678,418		10,654		1,832,993
Total	$	404,475	$	314,605	$	195,573	$	71,659	$	39,536	$	125,591	$	679,330	$	12,770	$	1,843,539
Consumer and other:
Past due 30-89 days	$	2,673	$	511	$	128	$	51	$	4	$	31	$	314	$	1,443	$	5,155
Past due 90 or more days	77		2		—		13		—		—		25		194		311
Total past due	2,750		513		128		64		4		31		339		1,637		5,466
Current loans	59,886		20,887		6,475		2,897		1,271		1,632		372,117		22,095		487,260
Total	$	62,636	$	21,400	$	6,603	$	2,961	$	1,275	$	1,663	$	372,456	$	23,732	$	492,726

Financing Receivable Revolving Loans Converted to Term

Revolving loans that converted to term during 2023 and 2022 were as follows:


	2023		2022
Commercial and industrial	$	28,713	$	34,247
Energy	6,409		3,295
Commercial real estate:
Buildings, land and other	4,780		12,174
Construction	—		3,144
Consumer real estate	2,467		5,381
Consumer and other	7,482		9,200
Total	$	49,851	$	67,441

Financing Receivable, Allowance for Credit Loss By Loan Class Calculated in Accordance With CECL Methodology

The following table presents details of the allowance for credit losses on loans segregated by loan portfolio segment as of December 31, 2023 and 2022, calculated in accordance with the CECL methodology described above. No allowance for credit losses has been recognized for PPP loans as such loans are fully guaranteed by the SBA.


	Commercial and Industrial		Energy		Commercial Real Estate		Consumer Real Estate		Consumer and Other		Total
December 31, 2023
Modeled expected credit losses	$	50,959	$	7,838	$	15,443	$	12,364	$	5,969	$	92,573
Q-Factor and other qualitative adjustments	20,612		7,276		112,505		433		4,071		144,897
Specific allocations	2,435		2,700		2,650		741		—		8,526
Total	$	74,006	$	17,814	$	130,598	$	13,538	$	10,040	$	245,996
December 31, 2022
Modeled expected credit losses	$	61,918	$	8,531	$	27,013	$	7,847	$	4,983	$	110,292
Q-Factor and other qualitative adjustments	36,237		5,148		61,572		157		2,034		105,148
Specific allocations	6,082		4,383		1,716		—		—		12,181
Total	$	104,237	$	18,062	$	90,301	$	8,004	$	7,017	$	227,621

Activity in Allowance for Loan Losses by Portfolio Segment

The following table details activity in the allowance for credit losses on loans by portfolio segment for 2023, 2022 and 2021. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. No allowance for credit losses has been recognized for PPP loans as such loans are fully guaranteed by the SBA.


	Commercial and Industrial		Energy		Commercial Real Estate		Consumer Real Estate		Consumer and Other		Total
2023
Beginning balance	$	104,237	$	18,062	$	90,301	$	8,004	$	7,017	$	227,621
Credit loss expense (benefit)	(16,709)		(1,067)		40,889		6,736		23,012		52,861
Charge-offs	(18,315)		(518)		(955)		(2,883)		(31,260)		(53,931)
Recoveries	4,793		1,337		363		1,681		11,271		19,445
Net (charge-offs) recoveries	(13,522)		819		(592)		(1,202)		(19,989)		(34,486)
Ending balance	$	74,006	$	17,814	$	130,598	$	13,538	$	10,040	$	245,996
2022
Beginning balance	$	72,091	$	17,217	$	144,936	$	6,585	$	7,837	$	248,666
Credit loss expense (benefit)	34,479		(313)		(54,775)		1,813		13,517		(5,279)
Charge-offs	(6,575)		(371)		(702)		(912)		(24,388)		(32,948)
Recoveries	4,242		1,529		842		518		10,051		17,182
Net (charge-offs) recoveries	(2,333)		1,158		140		(394)		(14,337)		(15,766)
Ending balance	$	104,237	$	18,062	$	90,301	$	8,004	$	7,017	$	227,621
2021
Beginning balance	$	73,843	$	39,553	$	134,892	$	7,926	$	6,963	$	263,177
Credit loss expense (benefit)	(2,160)		(19,207)		8,101		(3,061)		10,230		(6,097)
Charge-offs	(5,513)		(5,331)		(399)		(829)		(18,614)		(30,686)
Recoveries	5,921		2,202		2,342		2,549		9,258		22,272
Net (charge-offs) recoveries	408		(3,129)		1,943		1,720		(9,356)		(8,414)
Ending balance	$	72,091	$	17,217	$	144,936	$	6,585	$	7,837	$	248,666

Gross Charge-Offs By Year of Origination [Table]

The following table presents year-to-date gross charge-offs by year of origination as of December 31, 2023.


	2023		2022		2021		2020		2019		Prior		Revolving Loans		Revolving Loans Converted to Term		Total
Commercial and industrial	$	124	$	1,704	$	754	$	157	$	183	$	38	$	9,511	$	5,844	$	18,315
Energy	—		—		—		—		—		—		—		518		518
Commercial real estate:
Buildings, land and other	—		6		146		—		—		64		—		—		216
Construction	739		—		—		—		—		—		—		—		739
Consumer real estate	118		281		348		—		—		329		1,807		—		2,883
Consumer and other	23,321		4,546		74		13		1		29		2,766		510		31,260
Total	$	24,302	$	6,537	$	1,322	$	170	$	184	$	460	$	14,084	$	6,872	$	53,931

In the table above, $23.1 million of the consumer and other loan charge-offs reported as 2023 originations and $4.2 million of the total reported as 2022 originations were related to deposit overdrafts.

Investment in Loans Related to the Allowance for Loan Losses by Portfolio Segment Disaggregated Based on Impairment Methodology

The following table presents loans that were evaluated for expected credit losses on an individual basis and the related specific allocations, by loan portfolio segment as of December 31, 2023 and December 31, 2022.


	December 31, 2023				December 31, 2022
	Loan Balance		Specific Allocations		Loan Balance		Specific Allocations
Commercial and industrial	$	18,670	$	2,435	$	18,980	$	6,082
Energy	11,353		2,700		15,058		4,383
Paycheck Protection Program	—		—		—		—
Commercial real estate:
Buildings, land and other	21,373		2,650		17,711		1,716
Construction	—		—		—		—
Consumer real estate	7,235		741		827		—
Consumer and other	—		—		—		—
Total	$	58,631	$	8,526	$	52,576	$	12,181