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Loans
 9 Months Ended
Sep. 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:

 September 30, 2025
(In thousands)Portfolio LoansAcquired Non-PCD LoansPCD LoansTotal
Construction and land development$568,687 $47,229 $559 $616,475 
CRE - owner occupied1,421,755 446,548 30,401 1,898,704 
CRE - non-owner occupied2,676,504 1,011,812 78,225 3,766,541 
Residential real estate1,984,910 697,079 12,805 2,694,794 
Commercial and financial1,622,971 172,431 12,530 1,807,932 
Consumer140,785 38,642 300 179,727 
Totals$8,415,612 $2,413,741 $134,820 $10,964,173 
 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 $46.3 million at September 30, 2025 and $43.9 million at December 31, 2024. At September 30, 2025, the remaining fair value adjustments on acquired loans were $102.2 million, or 3.9% 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 $40.2 million and $38.1 million at September 30, 2025 and December 31, 2024, respectively.
The following tables present the status of net loan balances as of September 30, 2025 and December 31, 2024.
 September 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$567,058 $— $— $— $1,629 $568,687 
CRE - owner occupied
1,402,710 4,496 — — 14,549 1,421,755 
CRE - non-owner occupied
2,676,504 — — — — 2,676,504 
Residential real estate1,974,897 3,255 395 — 6,363 1,984,910 
Commercial and financial1,607,879 6,747 460 894 6,991 1,622,971 
Consumer139,742 653 41 — 349 140,785 
Total Portfolio Loans$8,368,790 $15,151 $896 $894 $29,881 $8,415,612 
Acquired Non-PCD Loans
Construction and land development$46,148 $— $32 $— $1,049 $47,229 
CRE - owner occupied
443,002 167 349 71 2,959 446,548 
CRE - non-owner occupied
1,006,591 853 — — 4,368 1,011,812 
Residential real estate690,088 1,539 125 — 5,327 697,079 
Commercial and financial170,054 — — — 2,377 172,431 
Consumer36,114 9 3 — 2,516 38,642 
 Total Acquired Non-PCD Loans$2,391,997 $2,568 $509 $71 $18,596 $2,413,741 
PCD Loans
Construction and land development$82 $— $— $— $477 $559 
CRE - owner occupied
28,669 — — — 1,732 30,401 
CRE - non-owner occupied
69,951 — — — 8,274 78,225 
Residential real estate11,773 47 165 — 820 12,805 
Commercial and financial11,748 — — — 782 12,530 
Consumer300 — — — — 300 
Total PCD Loans$122,523 $47 $165 $— $12,085 $134,820 
Total Loans$10,883,310 $17,766 $1,570 $965 $60,562 $10,964,173 
 
 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 $0.1 million on nonaccrual loans during each of the three months ended September 30, 2025 and September 30, 2024. The Company recognized $2.3 million and $1.1 million in interest income on nonaccrual loans during the nine months ended September 30, 2025 and September 30, 2024, respectively.
The following tables present net balances of loans on nonaccrual status as of:
September 30, 2025
(In thousands)Nonaccrual Loans With No Related AllowanceNonaccrual Loans With an AllowanceTotal Nonaccrual Loans
Construction and land development$1,319 $1,836 $3,155 
CRE - owner occupied
13,837 5,403 19,240 
CRE - non-owner occupied
11,504 1,138 12,642 
Residential real estate863 11,647 12,510 
Commercial and financial2,060 8,090 10,150 
Consumer— 2,865 2,865 
Totals $29,583 $30,979 $60,562 
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:
September 30, 2025
(In thousands)20252024202320222021PriorRevolvingRevolving Converted to TermTotal
Construction and land development
Risk Ratings:
Pass$63,829 $223,942 $113,795 $36,995 $40,593 $30,217 $96,647 $— $606,018 
Special Mention— — — — — 1,640 — — 1,640 
Substandard— — 6,431 139 82 979 1,186 — 8,817 
Doubtful— — — — — — — — — 
Total$63,829 $223,942 $120,226 $37,134 $40,675 $32,836 $97,833 $— $616,475 
Gross Charge Offs$— $— $115 $— $24 $— $— $— $139 
CRE - owner occupied
Risk Ratings:
Pass$285,504 $170,758 $154,760 $238,736 $237,314 $692,992 $25,441 $— $1,805,505 
Special Mention— 4,359 1,950 981 6,066 25,067 — — 38,423 
Substandard— 390 11,810 19,983 368 21,933 292 — 54,776 
Doubtful— — — — — — — — — 
Total$285,504 $175,507 $168,520 $259,700 $243,748 $739,992 $25,733 $— $1,898,704 
Gross Charge Offs$— $— $— $156 $— $41 $— $— $197 
CRE - non-owner occupied
Risk Ratings:
Pass$436,253 $475,603 $237,376 $852,842 $533,599 $1,093,820 $25,439 $— $3,654,932 
Special Mention— 23 2,685 9,639 9,679 28,312 — — 50,338 
Substandard— — — 26,893 9,130 25,248 — — 61,271 
Doubtful— — — — — — — — — 
Total$436,253 $475,626 $240,061 $889,374 $552,408 $1,147,380 $25,439 $— $3,766,541 
Gross Charge Offs$— $— $— $— $— $320 $— $— $320 
Residential real estate
Risk Ratings:
Pass$109,079 $160,199 $161,070 $455,764 $589,322 $536,212 $562,638 $96,742 $2,671,026 
Special Mention— — — — — 745 3,057 60 3,862 
Substandard— 150 113 1,607 5,104 6,760 4,916 1,256 19,906 
Doubtful— — — — — — — — — 
Total$109,079 $160,349 $161,183 $457,371 $594,426 $543,717 $570,611 $98,058 $2,694,794 
Gross Charge Offs$— $— $— $144 $206 $31 $19 $— $400 
Commercial and financial
Risk Ratings:
Pass$359,975 $324,504 $144,819 $212,084 $192,896 $138,289 $403,396 $— $1,775,963 
Special Mention— 891 429 707 2,450 4,195 1,228 — 9,900 
Substandard— — 594 4,971 3,730 6,579 5,599 — 21,473 
Doubtful— — — — 596 — — — 596 
Total$359,975 $325,395 $145,842 $217,762 $199,672 $149,063 $410,223 $— $1,807,932 
Gross Charge Offs$— $— $85 $2,022 $1,231 $8,563 $2,262 $— $14,163 
Consumer
Risk Ratings:
Pass$12,087 $14,011 $9,649 $21,437 $16,061 $36,400 $67,065 $— $176,710 
Special Mention3 36 — 2,512 — — 46 — 2,597 
Substandard— 2 19 45 — 313 41 — 420 
Doubtful— — — — — — — — — 
Total$12,090 $14,049 $9,668 $23,994 $16,061 $36,713 $67,152 $— $179,727 
Gross Charge Offs$584 $145 $8 $1,249 $108 $43 $159 $— $2,296 
Consolidated
Total$1,266,730 $1,374,868 $845,500 $1,885,335 $1,646,990 $2,649,701 $1,196,991 $98,058 $10,964,173 
Gross Charge Offs1
$584 $145 $208 $3,571 $1,569 $8,998 $2,440 $— $17,515 
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 $— $31,865 
1Represents gross charge-offs for the nine months ended September 30, 2025 and year ended December 31, 2024.
Troubled Borrower Modifications
The following tables present the amortized cost of TBM loans that were modified during the nine months ended September 30, 2025 and September 30, 2024.
September 30, 2025
(In thousands)
Rate Reduction or Rate Reduction with Term Extension
Term Extension and/or Payment Delay
Total1
% of Total Class of Loans
Construction and land development$— $— $— — %
CRE - owner occupied
69 132 201 0.01 
CRE - non-owner occupied
— — — — 
Residential real estate— 300 300 0.01 
Commercial and financial67 2,388 2,455 0.14 
Consumer— 4 4 — 
Totals$136 $2,824 $2,960 0.03 %
1At September 30, 2025, there were no unfunded lending related commitments associated with TBMs.
September 30, 2024
(In thousands)
Rate Reduction or Rate Reduction with Term Extension
Term Extension and/or Payment Delay
Total1
% of Total Class of Loans
Construction and land development$— $86 $86 0.01 %
CRE - owner occupied514 2,685 3,199 0.19 
CRE - non-owner occupied3,142 177 3,319 0.09 
Residential real estate— 126 126 0.01 
Commercial and financial3,524 813 4,337 0.28 
Consumer84 1,034 1,118 0.51 
Totals$7,264 $4,921 $12,185 0.12 %
1At September 30, 2024, there were no unfunded lending related commitments associated with TBMs.
The following tables present the payment status of TBM loans that were modified in the twelve months prior to September 30, 2025 and in the twelve months prior to September 30, 2024.
September 30, 2025
(In thousands)CurrentAccruing
30-59 Days Past Due		Accruing
60-89 Days Past Due		Accruing
Greater
Than 90 Days		NonaccrualTotal
Construction and land development$— $— $— $— $— $— 
CRE - owner occupied
69 — — — 132 201 
CRE - non-owner occupied
— — — — — — 
Residential real estate57 — — — 472 529 
Commercial and financial2,290 — — — 165 2,455 
Consumer— — — — 4 4 
Totals$2,416 $— $— $— $773 $3,189 
September 30, 2024
(In thousands)CurrentAccruing
30-59 Days Past Due		Accruing
60-89 Days Past Due		Accruing
Greater
Than 90 Days		NonaccrualTotal
Construction and land development$— $— $— $— $86 $86 
CRE - owner occupied
95 — — — 3,199 3,293 
CRE - non owner occupied
— — — — 3,319 3,319 
Residential real estate123 — — — 96 219 
Commercial and financial3,162 — — — 1,321 4,483 
Consumer341 429 288 191 233 1,483 
Totals$3,721 $429 $288 $191 $8,254 $12,883 
TBM loans modified in the prior twelve months with a payment default during the nine months ended September 30, 2025 and September 30, 2024 were immaterial.