Loans (Tables)

3 Months Ended

Mar. 31, 2024

Loans were as follows:


	March 31, 2024		December 31, 2023
Commercial and industrial	$	6,108,136	$	5,967,182
Energy:
Production	663,436		681,568
Service	195,227		194,126
Other	79,217		61,043
Total energy	937,880		936,737
Commercial real estate:
Commercial mortgages	6,980,116		6,746,709
Construction	1,772,416		1,680,724
Land	568,106		555,211
Total commercial real estate	9,320,638		8,982,644
Consumer real estate:
Home equity lines of credit	810,053		792,876
Home equity loans	731,736		694,966
Home improvement loans	786,681		765,887
Other	230,200		206,997
Total consumer real estate	2,558,670		2,460,726
Total real estate	11,879,308		11,443,370
Consumer and other	462,882		476,962
Total loans	$	19,388,206	$	18,824,251

Non-Accrual Loans, Segregated by Class of Loans

Non-accrual loans, segregated by class of loans, were as follows:


	March 31, 2024				December 31, 2023
	Total Non-Accrual		Non-Accrual with No Credit Loss Allowance		Total Non-Accrual		Non-Accrual with No Credit Loss Allowance
Commercial and industrial	$	25,446	$	6,119	$	19,545	$	5,391
Energy	10,293		6,791		11,500		7,398
Commercial real estate:
Buildings, land, and other	30,012		12,519		22,420		4,983
Construction	—		—		—		—
Consumer real estate	5,764		3,533		7,442		5,160
Consumer and other	—		—		—		—
Total	$	71,515	$	28,962	$	60,907	$	22,932

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

The following table presents non-accrual loans as of March 31, 2024 by class and year of origination.


	2024		2023		2022		2021		2020		Prior		Revolving Loans		Revolving Loans Converted to Term		Total
Commercial and industrial	$	11	$	2,059	$	394	$	2,941	$	935	$	2,719	$	2,178	$	14,209	$	25,446
Energy	5,268		—		—		—		56		1,321		3,502		146		10,293
Commercial real estate:
Buildings, land, and other	—		19,812		3,360		3,656		—		3,184		—		—		30,012
Construction	—		—		—		—		—		—		—		—		—
Consumer real estate	—		—		—		—		38		2,712		—		3,014		5,764
Consumer and other	—		—		—		—		—		—		—		—		—
Total	$	5,279	$	21,871	$	3,754	$	6,597	$	1,029	$	9,936	$	5,680	$	17,369	$	71,515

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 March 31, 2024 was as follows:


	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	$	34,328	$	25,713	$	60,041	$	6,048,095	$	6,108,136	$	7,319
Energy	2,349		24,375		26,724		911,156		937,880		19,351
Commercial real estate:
Buildings, land, and other	43,836		11,206		55,042		7,493,180		7,548,222		8,223
Construction	891		—		891		1,771,525		1,772,416		—
Consumer real estate	13,913		6,442		20,355		2,538,315		2,558,670		2,954
Consumer and other	5,889		253		6,142		456,740		462,882		253
Total	$	101,206	$	67,989	$	169,195	$	19,219,011	$	19,388,206	$	38,100

Financing Receivables, Modified Loans Past Due in Excess of 90 Days or on Non-Accrual Status, Charge-offs and Proceeds From Sales at Period-End

Information as of or for the three months ended March 31, 2024 and March 31, 2023 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.


	March 31, 2024		March 31, 2023
	Combination: Payment Delay and Term Extension		Combination: Payment Delay and Term Extension
Past due in excess of 90 days or on non-accrual status at period-end:
Commercial and industrial	$	13,644	$	—

Commercial real estate:
Buildings, land, and other	19,137		—



	$	32,781	$	—

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

The following table presents weighted-average risk grades for all commercial loans, by class and year of origination/renewal, as of March 31, 2024.


	2024		2023		2022		2021		2020		Prior		Revolving Loans		Revolving Loans Converted to Term		Total		W/A Risk Grade
Commercial and industrial
Risk grades 1-8	$	788,259	$	799,207	$	640,565	$	413,197	$	331,143	$	343,646	$	2,103,487	$	50,085	$	5,469,589	6.28
Risk grade 9	41,562		43,457		43,429		6,436		5,063		17,960		89,123		5,008		252,038		9.00
Risk grade 10	25,688		5,250		5,278		15,136		2,927		4,848		100,864		707		160,698		10.00
Risk grade 11	23,260		23,096		20,467		24,455		6,621		2,941		91,166		8,359		200,365		11.00
Risk grade 12	11		1,257		250		2,937		924		2,719		450		11,779		20,327		12.00
Risk grade 13	—		802		144		4		11		—		1,728		2,430		5,119		13.00
	$	878,780	$	873,069	$	710,133	$	462,165	$	346,689	$	372,114	$	2,386,818	$	78,368	$	6,108,136	6.67
W/A risk grade	6.52		6.91		7.13		7.30		5.82		6.09		6.54		8.53		6.67
Energy
Risk grades 1-8	$	222,335	$	32,898	$	53,057	$	69,990	$	4,467	$	5,496	$	480,392	$	7,897	$	876,532	5.69
Risk grade 9	—		2,353		3,814		897		—		437		17,700		54		25,255		9.00
Risk grade 10	—		—		—		27		—		734		1,129		—		1,890		10.00
Risk grade 11	—		—		2,094		18		89		2,963		18,311		435		23,910		11.00
Risk grade 12	5,268		—		—		—		56		1,321		802		146		7,593		12.00
Risk grade 13	—		—		—		—		—		—		2,700		—		2,700		13.00
	$	227,603	$	35,251	$	58,965	$	70,932	$	4,612	$	10,951	$	521,034	$	8,532	$	937,880	6.00
W/A risk grade	5.89		6.95		7.17		5.98		6.37		8.90		5.76		7.27		6.00

Commercial real estate:
Buildings, land, other
Risk grades 1-8	$	408,058	$	1,515,706	$	1,569,318	$	1,195,050	$	726,365	$	1,285,229	$	128,573	$	97,011	$	6,925,310	7.04
Risk grade 9	613		7,036		108,049		68,104		9,145		37,054		110,533		541		341,075		9.00
Risk grade 10	—		6,048		35,944		15,690		48,851		15,918		3,709		—		126,160		10.00
Risk grade 11	58		12,277		28,800		20,214		14,200		49,260		856		—		125,665		11.00
Risk grade 12	—		15,663		3,237		3,656		—		3,184		—		—		25,740		12.00
Risk grade 13	—		4,149		123		—		—		—		—		—		4,272		13.00
	$	408,729	$	1,560,879	$	1,745,471	$	1,302,714	$	798,561	$	1,390,645	$	243,671	$	97,552	$	7,548,222	7.26
W/A risk grade	7.00		7.27		7.30		7.35		7.24		7.09		8.24		6.71		7.26
Construction
Risk grades 1-8	$	227,895	$	433,679	$	520,522	$	187,481	$	28,028	$	1,353	$	166,140	$	—	$	1,565,098	7.29
Risk grade 9	1,499		6,358		30,611		76,103		—		—		5,396		—		119,967		9.00
Risk grade 10	13,555		—		12,299		15,000		—		—		—		—		40,854		10.00
Risk grade 11	—		—		35,367		11,130		—		—		—		—		46,497		11.00
Risk grade 12	—		—		—		—		—		—		—		—		—		12.00
Risk grade 13	—		—		—		—		—		—		—		—		—		13.00
	$	242,949	$	440,037	$	598,799	$	289,714	$	28,028	$	1,353	$	171,536	$	—	$	1,772,416	7.56
W/A risk grade	7.46		7.39		7.70		8.28		2.54		6.82		7.27		—		7.56
Total commercial real estate	$	651,678	$	2,000,916	$	2,344,270	$	1,592,428	$	826,589	$	1,391,998	$	415,207	$	97,552	$	9,320,638	7.32
W/A risk grade	7.17		7.30		7.40		7.52		7.08		7.09		7.84		6.71		7.32

Weighted Average Risk Grades for All Commercial Loans by Class

The following tables present weighted average risk grades for all commercial loans by class as of December 31, 2023. Refer to our 2023 Form 10-K for details of these loans by year of origination/renewal.


	Commercial and Industrial			Energy			Commercial Real Estate - Buildings, Land and Other			Commercial Real Estate - Construction			Total Commercial Real Estate
	W/A Risk Grade	Loans		W/A Risk Grade	Loans		W/A Risk Grade	Loans		W/A Risk Grade	Loans		W/A Risk Grade	Loans
Risk grades 1-8	6.32	$	5,507,878	5.73	$	871,221	7.03	$	6,895,358	7.27	$	1,526,086	7.07	$	8,421,444
Risk grade 9	9.00	205,244		9.00	27,643		9.00	173,470		9.00	127,102		9.00	300,572
Risk grade 10	10.00	109,254		10.00	818		10.00	96,601		10.00	17,035		10.00	113,636
Risk grade 11	11.00	125,261		11.00	25,555		11.00	114,071		11.00	10,501		11.00	124,572
Risk grade 12	12.00	17,102		12.00	8,800		12.00	19,770		12.00	—		12.00	19,770
Risk grade 13	13.00	2,443		13.00	2,700		13.00	2,650		13.00	—		13.00	2,650
Total	6.60	$	5,967,182	6.05	$	936,737	7.20	$	7,301,920	7.45	$	1,680,724	7.24	$	8,982,644

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 March 31, 2024 was as follows:


	2024		2023		2022		2021		2020		Prior		Revolving Loans		Revolving Loans Converted to Term		Total
Consumer real estate:
Past due 30-89 days	$	—	$	1,216	$	1,811	$	1,601	$	767	$	2,390	$	5,159	$	969	$	13,913
Past due 90 or more days	—		366		606		390		207		1,050		805		3,018		6,442
Total past due	—		1,582		2,417		1,991		974		3,440		5,964		3,987		20,355
Current loans	111,517		580,838		423,878		272,415		164,536		184,967		792,971		7,193		2,538,315
Total	$	111,517	$	582,420	$	426,295	$	274,406	$	165,510	$	188,407	$	798,935	$	11,180	$	2,558,670
Consumer and other:
Past due 30-89 days	$	2,013	$	600	$	200	$	75	$	68	$	34	$	2,835	$	64	$	5,889
Past due 90 or more days	72		—		55		—		—		12		101		13		253
Total past due	2,085		600		255		75		68		46		2,936		77		6,142
Current loans	30,106		46,779		25,114		4,709		3,062		1,961		322,406		22,603		456,740
Total	$	32,191	$	47,379	$	25,369	$	4,784	$	3,130	$	2,007	$	325,342	$	22,680	$	462,882

Revolving Loans Converted to Term [Table Text Block]

Revolving loans that converted to term during the three months ended March 31, 2024 and 2023 were as follows:


	Three Months Ended March 31,
		2024		2023
Commercial and industrial		$	20,972	$	15,490
Energy		44		3,435
Commercial real estate:
Buildings, land and other		3,081		—
Construction		—		—
Consumer real estate		792		707
Consumer and other		3,020		6,342
Total		$	27,909	$	25,974

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 March 31, 2024 and December 31, 2023.


March 31, 2024	Commercial and Industrial		Energy		Commercial Real Estate		Consumer Real Estate		Consumer and Other		Total
Modeled expected credit losses	$	52,835	$	5,471	$	20,199	$	12,705	$	6,293	$	97,503
Q-Factor and other qualitative adjustments	17,642		6,047		113,753		444		2,109		139,995
Specific allocations	5,119		2,700		4,272		708		—		12,799
Total	$	75,596	$	14,218	$	138,224	$	13,857	$	8,402	$	250,297
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

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 the three months ended March 31, 2024 and 2023. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.


	Commercial and Industrial		Energy		Commercial Real Estate		Consumer Real Estate		Consumer and Other		Total
Three months ended:
March 31, 2024
Beginning balance	$	74,006	$	17,814	$	130,598	$	13,538	$	10,040	$	245,996
Credit loss expense (benefit)	1,992		(3,776)		7,610		1,806		4,018		11,650
Charge-offs	(2,144)		—		—		(1,669)		(8,257)		(12,070)
Recoveries	1,742		180		16		182		2,601		4,721
Net (charge-offs) recoveries	(402)		180		16		(1,487)		(5,656)		(7,349)
Ending balance	$	75,596	$	14,218	$	138,224	$	13,857	$	8,402	$	250,297


	Commercial and Industrial		Energy		Commercial Real Estate		Consumer Real Estate		Consumer and Other		Total
March 31, 2023
Beginning balance	$	104,237	$	18,062	$	90,301	$	8,004	$	7,017	$	227,621
Credit loss expense (benefit)	(20,684)		966		25,361		1,283		5,749		12,675
Charge-offs	(6,180)		—		—		(250)		(6,942)		(13,372)
Recoveries	1,092		163		31		671		2,633		4,590
Net (charge-offs) recoveries	(5,088)		163		31		421		(4,309)		(8,782)
Ending balance	$	78,465	$	19,191	$	115,693	$	9,708	$	8,457	$	231,514

Financing Receivable, Gross Charge-Offs By Year of Origination

The following table presents year-to-date gross charge-offs by year of origination as of March 31, 2024.


	2024		2023		2022		2021		2020		Prior		Revolving Loans		Revolving Loans Converted to Term		Total
Commercial and industrial	$	—	$	96	$	572	$	439	$	6	$	13	$	794	$	224	$	2,144
Energy	—		—		—		—		—		—		—		—		—
Commercial real estate:
Buildings, land and other	—		—		—		—		—		—		—		—		—
Construction	—		—		—		—		—		—		—		—		—
Consumer real estate	—		—		148		253		—		280		921		67		1,669
Consumer and other	1,958		5,543		64		4		4		34		650		—		8,257
Total	$	1,958	$	5,639	$	784	$	696	$	10	$	327	$	2,365	$	291	$	12,070

Investment in Loans Related to 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 March 31, 2024 and December 31, 2023.


	March 31, 2024				December 31, 2023
	Loan Balance		Specific Allocations		Loan Balance		Specific Allocations
Commercial and industrial	$	24,743	$	5,119	$	18,670	$	2,435
Energy	10,147		2,700		11,353		2,700
Commercial real estate:
Buildings, land and other	29,211		4,272		21,373		2,650
Construction	—		—		—		—
Consumer real estate	5,584		708		7,235		741
Consumer and other	—		—		—		—
Total	$	69,685	$	12,799	$	58,631	$	8,526