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Loans
 6 Months Ended
Jun. 30, 2025
Receivables [Abstract]  
Loans
Note 4 – Loans
Loans held for investment are categorized into the following segments:
•Construction and land development: Loans are extended to both commercial and consumer customers which are collateralized by and for the purpose of funding land development and construction projects, including commercial, 1-4 family residential, multi-family, and non-farm residential properties where the primary source of repayment is from proceeds of the sale, refinancing or permanent financing of the property.
•CRE - owner occupied: Loans are extended to commercial customers for the purpose of acquiring or refinancing real estate to be occupied by the borrower’s business. These loans are collateralized by the subject property and the repayment of these loans is largely dependent on the performance of the company occupying the property.
•CRE - non-owner occupied: Loans are extended to commercial customers for the purpose of acquiring or refinancing commercial property where occupancy by the borrower is not their primary intent. These loans are viewed primarily as cash flow loans, collateralized by the subject property, and the repayment of these loans is largely dependent on rental income from third parties or from the sale of the property.
•Residential real estate: Loans are extended to consumer customers and collateralized primarily by 1-4 family residential properties and include fixed and variable rate mortgages, home equity mortgages, and HELOCs. Loans are primarily written based on conventional loan agency guidelines, including loans that exceed agency value limitations. Sources of repayment are largely dependent on the occupant of the residential property.
•Commercial and financial: Loans are extended to commercial customers. The purpose of the loans can be working capital, physical asset expansion, asset acquisition, or other business purposes. Loans may be collateralized by assets owned by the borrower or the borrower’s business. Commercial loans are based primarily on the historical and projected cash flow of the borrower’s business and secondarily on the capacity of credit enhancements, guarantees, and underlying collateral provided by the borrower.
•Consumer: Loans are extended to consumer customers. The segment includes both installment loans and lines of credit which may be collateralized or non-collateralized.
The following tables present net loan balances by segment for portfolio loans, PCD loans and loans purchased which are not considered purchase credit deteriorated (“Non-PCD”) as of:

 June 30, 2025
(In thousands)Portfolio LoansAcquired Non-PCD LoansPCD LoansTotal
Construction and land development$561,128 $41,425 $526 $603,079 
CRE - owner occupied1,313,169 437,536 28,225 1,778,930 
CRE - non-owner occupied2,514,409 1,024,781 85,338 3,624,528 
Residential real estate1,976,802 687,933 13,307 2,678,042 
Commercial and financial1,559,314 165,207 16,637 1,741,158 
Consumer146,796 36,128 163 183,087 
Totals$8,071,618 $2,393,010 $144,196 $10,608,824 
 December 31, 2024
(In thousands)Portfolio LoansAcquired Non-PCD LoansPCD LoansTotal
Construction and land development$568,148 $79,370 $535 $648,053 
CRE - owner occupied1,177,538 477,459 31,632 1,686,629 
CRE - non-owner occupied
2,243,056 1,156,849 103,903 3,503,808 
Residential real estate1,882,955 719,589 14,241 2,616,785 
Commercial and financial1,424,689 199,146 27,519 1,651,354 
Consumer155,786 37,282 253 193,321 
Totals$7,452,172 $2,669,695 $178,083 $10,299,950 
The amortized cost basis of loans included net deferred costs of $45.6 million at June 30, 2025 and $43.9 million at December 31, 2024. At June 30, 2025, the remaining fair value adjustments on acquired loans were $108.5 million, or 4.1% of the outstanding acquired loan balances, compared to $128.1 million, or 4.3% of the acquired loan balances at December 31, 2024. The discount is accreted into interest income over the remaining lives of the related loans on a level yield basis.
Accrued interest receivable is included within Other Assets and was $39.0 million and $38.1 million at June 30, 2025 and December 31, 2024, respectively.
The following tables present the status of net loan balances as of June 30, 2025 and December 31, 2024.
 June 30, 2025
(In thousands)CurrentAccruing
30-59 Days
Past Due		Accruing
60-89 Days
Past Due		Accruing
Greater
Than
90 Days		NonaccrualTotal
Portfolio Loans      
Construction and land development$560,311 $— $— $— $817 $561,128 
CRE - owner occupied
1,301,534 838 — — 10,797 1,313,169 
CRE - non-owner occupied
2,513,812 586 — — 11 2,514,409 
Residential real estate1,965,284 4,182 326 — 7,010 1,976,802 
Commercial and financial1,549,656 704 982 — 7,972 1,559,314 
Consumer146,102 307 45 — 342 146,796 
Total Portfolio Loans$8,036,699 $6,617 $1,353 $— $26,949 $8,071,618 
Acquired Non-PCD Loans
Construction and land development$40,782 $24 $— $— $619 $41,425 
CRE - owner occupied
431,451 2,109 — 255 3,721 437,536 
CRE - non-owner occupied
1,020,834 62 — — 3,885 1,024,781 
Residential real estate676,375 1,119 282 — 10,157 687,933 
Commercial and financial162,079 123 3 — 3,002 165,207 
Consumer33,315 — — — 2,813 36,128 
 Total Acquired Non-PCD Loans$2,364,836 $3,437 $285 $255 $24,197 $2,393,010 
PCD Loans
Construction and land development$40 $— $— $— $486 $526 
CRE - owner occupied
26,481 — — — 1,744 28,225 
CRE - non-owner occupied
76,852 2,098 — — 6,388 85,338 
Residential real estate12,486 — 166 — 655 13,307 
Commercial and financial12,857 — — — 3,780 16,637 
Consumer163 — — — — 163 
Total PCD Loans$128,879 $2,098 $166 $— $13,053 $144,196 
Total Loans$10,530,414 $12,152 $1,804 $255 $64,199 $10,608,824 
 
 December 31, 2024
(In thousands)CurrentAccruing
30-59 Days
Past Due		Accruing
60-89 Days
Past Due		Accruing
Greater
Than
90 Days		NonaccrualTotal
Portfolio Loans      
Construction and land development$567,896 $127 $— $— $125 $568,148 
CRE - owner occupied
1,172,287 3,083 — — 2,168 1,177,538 
CRE - non-owner occupied
2,225,216 833 — — 17,007 2,243,056 
Residential real estate1,866,295 5,466 450 — 10,744 1,882,955 
Commercial and financial1,411,623 1,075 106 — 11,885 1,424,689 
Consumer152,129 331 5 — 3,321 155,786 
 Total Portfolio Loans$7,395,446 $10,915 $561 $— $45,250 $7,452,172 
Acquired Non-PCD Loans
Construction and land development$78,728 $8 $99 $— $535 $79,370 
CRE - owner occupied
473,118 2,414 — — 1,927 477,459 
CRE - non-owner occupied
1,151,541 148 — — 5,160 1,156,849 
Residential real estate706,566 1,064 131 — 11,828 719,589 
Commercial and financial195,853 — — 35 3,258 199,146 
Consumer32,375 11 1 — 4,895 37,282 
 Total Acquired Non-PCD Loans$2,638,181 $3,645 $231 $35 $27,603 $2,669,695 
PCD Loans
Construction and land development$43 $— $— $— $492 $535 
CRE - owner occupied
26,987 — — — 4,645 31,632 
CRE - non-owner occupied
96,188 — — — 7,715 103,903 
Residential real estate12,752 — — 167 1,322 14,241 
Commercial and financial22,153 — — — 5,366 27,519 
Consumer200 — — — 53 253 
 Total PCD Loans$158,323 $— $— $167 $19,593 $178,083 
Total Loans$10,191,950 $14,560 $792 $202 $92,446 $10,299,950 
All interest accrued but not received for loans placed on nonaccrual is reversed against interest income. Interest subsequently received on such loans is accounted for under the cost-recovery method, whereby interest income is not recognized until the loan balance is paid down to zero. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current, and future payments are reasonably assured. The Company recognized interest income of $1.5 million and $0.7 million on nonaccrual loans during the three months ended June 30, 2025 and June 30, 2024, respectively. The Company recognized $2.2 million and $0.9 million in interest income on nonaccrual loans during the six months ended June 30, 2025 and June 30, 2024, respectively.
The following tables present net balances of loans on nonaccrual status and the related allowance for credit losses, if any, as of:
June 30, 2025
(In thousands)Nonaccrual Loans With No Related AllowanceNonaccrual Loans With an AllowanceTotal Nonaccrual Loans
Construction and land development$486 $1,436 $1,922 
CRE - owner occupied
5,291 10,971 16,262 
CRE - non-owner occupied
9,941 343 10,284 
Residential real estate5,570 12,252 17,822 
Commercial and financial— 14,754 14,754 
Consumer— 3,155 3,155 
Totals $21,288 $42,911 $64,199 
December 31, 2024
(In thousands)Nonaccrual Loans With No Related AllowanceNonaccrual Loans With an AllowanceTotal Nonaccrual Loans
Construction and land development$492 $660 $1,152 
CRE - owner occupied
2,622 6,118 8,740 
CRE - non-owner occupied
29,449 433 29,882 
Residential real estate6,462 17,432 23,894 
Commercial and financial2,703 17,806 20,509 
Consumer2,416 5,853 8,269 
Totals$44,144 $48,302 $92,446 

Loans by Risk Rating
The Company utilizes an internal asset classification system as a means of identifying problem and potential problem loans. The following classifications are used to categorize loans under the internal classification system:
•Pass: Loans that are not problem loans or potential problem loans are considered to be pass-rated.
•Special Mention: Loans that do not currently expose the Company to sufficient risk to warrant classification in the Substandard or Doubtful categories, but possess weaknesses that deserve management’s close attention are deemed to be Special Mention.
•Substandard: Loans with the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected.
•Doubtful: Loans that have all the weaknesses inherent in those classified Substandard with the added characteristic that the weakness present makes collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable.
The following tables present the risk rating of loans and year-to-date1 gross charge offs by year of origination as of:
June 30, 2025
(In thousands)20252024202320222021PriorRevolvingRevolving Converted to TermTotal
Construction and Land Development
Risk Ratings:
Pass$28,831 $182,713 $153,056 $46,156 $38,869 $45,851 $98,815 $— $594,291 
Special Mention— — 985 — — 653 — — 1,638 
Substandard— — 5,228 147 84 974 717 — 7,150 
Doubtful— — — — — — — — — 
Total$28,831 $182,713 $159,269 $46,303 $38,953 $47,478 $99,532 $— $603,079 
Gross Charge Offs$— $— $— $— $— $— $— $— $— 
CRE - owner occupied
Risk Ratings:
Pass$151,964 $177,963 $135,950 $243,198 $246,062 $719,616 $25,142 $— $1,699,895 
Special Mention— 3,835 13,041 8,643 738 24,522 — — 50,779 
Substandard— 400 — 8,439 371 18,718 328 — 28,256 
Doubtful— — — — — — — — — 
Total$151,964 $182,198 $148,991 $260,280 $247,171 $762,856 $25,470 $— $1,778,930 
Gross Charge Offs$— $— $— $— $— $— $— $— $— 
CRE - non-owner occupied
Risk Ratings:
Pass$228,637 $496,754 $230,043 $840,495 $542,839 $1,158,990 $21,167 $— $3,518,925 
Special Mention— 25 2,693 9,700 5,532 20,017 — — 37,967 
Substandard— — — 36,221 7,911 23,504 — — 67,636 
Doubtful— — — — — — — — — 
Total$228,637 $496,779 $232,736 $886,416 $556,282 $1,202,511 $21,167 $— $3,624,528 
Gross Charge Offs$— $— $— $— $— $320 $— $— $320 
Residential real estate
Risk Ratings:
Pass$78,858 $148,970 $152,882 $462,937 $608,024 $555,192 $551,955 $96,956 $2,655,774 
Special Mention— — — — 363 3,046 — 3,409 
Substandard— 93 — 5,647 1,387 4,100 5,402 2,230 18,859 
Doubtful— — — — — — — — — 
Total$78,858 $149,063 $152,882 $468,584 $609,411 $559,655 $560,403 $99,186 $2,678,042 
Gross Charge Offs$— $— $— $— $206 $1 $19 $— $226 
Commercial and financial
Risk Ratings:
Pass$238,575 $362,272 $149,058 $228,996 $207,631 $144,922 $375,047 $— $1,706,501 
Special Mention— 813 378 908 4,216 3,730 5,431 — 15,476 
Substandard— — 559 2,271 3,809 7,307 2,071 — 16,017 
Doubtful— — — 1,674 — — 1,490 — 3,164 
Total$238,575 $363,085 $149,995 $233,849 $215,656 $155,959 $384,039 $— $1,741,158 
Gross Charge Offs$— $— $85 $148 $747 $8,152 $600 $— $9,732 
Consumer
Risk Ratings:
Pass$6,962 $14,274 $10,415 $22,327 $17,592 $38,267 $69,905 $— $179,742 
Special Mention— 41 1 2,808 — — 118 — 2,968 
Substandard— — 10 76 — 291 — — 377 
Doubtful— — — — — — — — — 
Total$6,962 $14,315 $10,426 $25,211 $17,592 $38,558 $70,023 $— $183,087 
Gross Charge Offs$343 $105 $7 $1,221 $108 $43 $98 $— $1,925 
Consolidated
Total$733,827 $1,388,153 $854,299 $1,920,643 $1,685,065 $2,767,017 $1,160,634 $99,186 $10,608,824 
Gross Charge Offs1
$343 $105 $92 $1,369 $1,061 $8,516 $717 $— $12,203 
December 31, 2024
(In thousands)20242023202220212020PriorRevolvingRevolving Converted to TermTotal
Construction and Land Development
Risk Ratings:
Pass$113,993 $160,801 $161,122 $39,276 $8,547 $36,342 $126,659 $— $646,740 
Special Mention— — — — — 75 — — 75 
Substandard— — 183 90 — 965 — — 1,238 
Doubtful— — — — — — — — — 
Total$113,993 $160,801 $161,305 $39,366 $8,547 $37,382 $126,659 $— $648,053 
Gross Charge Offs$— $— $— $— $— $1 $— $— $1 
CRE - owner occupied
Risk Ratings:
Pass$184,312 $139,197 $260,266 $257,711 $153,702 $628,391 $20,674 $— $1,644,253 
Special Mention— — 4,975 2,344 2,418 7,965 1 — 17,703 
Substandard89 1,061 2,821 377 5,870 14,106 349 — 24,673 
Doubtful— — — — — — — — — 
Total$184,401 $140,258 $268,062 $260,432 $161,990 $650,462 $21,024 $— $1,686,629 
Gross Charge Offs$— $— $179 $— $— $162 $— $— $341 
CRE - non-owner occupied
Risk Ratings:
Pass$495,361 $236,306 $820,739 $581,892 $237,777 $1,012,209 $24,752 $— $3,409,036 
Special Mention27 — 4,773 1,269 5,265 25,245 — — 36,579 
Substandard— — 10,462 10,684 16,437 20,610 — — 58,193 
Doubtful— — — — — — — — — 
Total$495,388 $236,306 $835,974 $593,845 $259,479 $1,058,064 $24,752 $— $3,503,808 
Gross Charge Offs$— $— $— $— $89 $1,396 $— $— $1,485 
Residential real estate
Risk Ratings:
Pass$93,644 $146,836 $469,071 $630,378 $152,116 $483,150 $517,136 $96,256 $2,588,587 
Special Mention— — — — — 164 3,434 22 3,620 
Substandard149 — 4,706 1,212 83 6,767 9,440 2,221 24,578 
Doubtful— — — — — — — — — 
Total$93,793 $146,836 $473,777 $631,590 $152,199 $490,081 $530,010 $98,499 $2,616,785 
Gross Charge Offs$— $— $— $— $40 $62 $32 $— $134 
Commercial and financial
Risk Ratings:
Pass$373,569 $180,423 $253,120 $232,427 $82,964 $117,276 $362,701 $— $1,602,480 
Special Mention— 382 755 2,839 232 1,904 2,163 — 8,275 
Substandard— 115 8,547 9,810 6,147 10,604 5,376 — 40,599 
Doubtful— — — — — — — — — 
Total$373,569 $180,920 $262,422 $245,076 $89,343 $129,784 $370,240 $— $1,651,354 
Gross Charge Offs$— $— $2,762 $10,669 $— $3,111 $1,074 $— $17,616 
Consumer
Risk Ratings:
Pass$14,627 $14,049 $26,332 $20,721 $11,682 $30,022 $67,562 $— $184,995 
Special Mention— 5 1 — — — 54 — 60 
Substandard75 25 4,953 40 2,435 737 1 — 8,266 
Doubtful— — — — — — — — — 
Total$14,702 $14,079 $31,286 $20,761 $14,117 $30,759 $67,617 $— $193,321 
Gross Charge Offs$789 $457 $5,471 $4,828 $255 $221 $267 $— $12,288 
Consolidated
Total$1,275,846 $879,200 $2,032,826 $1,791,070 $685,675 $2,396,532 $1,140,302 $98,499 $10,299,950 
Gross Charge Offs1
$789 $457 $8,412 $15,497 $384 $4,953 $1,373 $— $31,865 
1 Represents gross charge-offs for the six months ended June 30, 2025.and year ended December 31, 2024.
Troubled Borrower Modifications
The following table presents the amortized cost of TBM loans that were modified during the six months ended June 30, 2025.
June 30, 2025
(In thousands)
Rate Reduction or Rate Reduction with Term Extension
Term Extension and/or Payment Delay
Total1
% of Total Class of Loans
Construction and land development$— $— $— — %
CRE - owner occupied
81 — 81 — 
CRE - non-owner occupied
— — — — %
Residential real estate— 239 239 0.01 %
Commercial and financial71 2,873 2,944 0.17 %
Consumer— — — — %
Totals$152 $3,112 $3,264 0.03 %
1At June 30, 2025, there were no unfunded lending related commitments associated with TBMs.
June 30, 2024
(In thousands)
Rate Reduction or Rate Reduction with Term Extension
Term Extension and/or Payment Delay
Total1
% of Total Class of Loans
Construction and land development$— $— $— — %
CRE - owner occupied3,257 — 3,257 0.20 
CRE - non-owner occupied794 3,203 3,997 0.12 %
Residential real estate— 130 130 0.01 %
Commercial and financial2,543 1,293 3,836 0.24 %
Consumer— 967 967 0.42 %
Totals$6,594 $5,593 $12,187 0.12 %
1At June 30, 2024, there were no unfunded lending related commitments associated with TBMs.
The following table presents the payment status of TBM loans that were modified in the twelve months prior to June 30, 2025 and in the twelve months prior to June 30, 2024.
June 30, 2025
(In thousands)CurrentAccruing
30-59 Days Past Due		Accruing
60-89 Days Past Due		Accruing
Greater
Than 90 Days		NonaccrualTotal
Construction and Land Development$110 $— $— $— $— $110 
CRE - owner occupied
81 — — — — 81 
CRE - non-owner occupied
— — — — — — 
Residential real estate6 — — — 464 470 
Commercial and financial1,532 — — — 1,843 3,375 
Consumer— — — — — — 
Totals$1,729 $— $— $— $2,307 $4,036 
June 30, 2024
(In thousands)CurrentAccruing
30-59 Days Past Due		Accruing
60-89 Days Past Due		Accruing
Greater
Than 90 Days		NonaccrualTotal
Construction and Land Development$— $— — $— $— $— $— 
CRE - owner occupied
98 520 — — 2,738 3,356 
CRE - non owner occupied
— — — — 3,997 3,997 
Residential real estate125 — — — 99 224 
Commercial and financial3,151 — — — 7,410 10,561 
Consumer907 640 304 207 165 2,223 
Totals$4,281 $1,160 $304 $207 $14,409 $20,361 
TBM loans modified in the prior 12 months with a payment default during the six months ended June 30, 2025 and June 30, 2024 were immaterial.