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Loans and Allowance for Credit Losses (Tables)
 12 Months Ended
Dec. 31, 2022
Accounts Notes And Loans Receivable [Line Items]  
Loans, Net of Unearned Income The following table presents loans, net of unearned income, by portfolio class at December 31, 2022 and 2021:

 

($ in thousands)

2022

 

2021

 

Commercial non-real estate

$

10,146,453

 

$

9,612,460

 

Commercial real estate - owner occupied

 

3,033,058

 

 

2,821,246

 

Total commercial and industrial

 

13,179,511

 

 

12,433,706

 

Commercial real estate - income producing

 

3,560,991

 

 

3,464,626

 

Construction and land development

 

1,703,592

 

 

1,228,670

 

Residential mortgages

 

3,092,605

 

 

2,423,890

 

Consumer

 

1,577,347

 

 

1,583,390

 

Total loans

$

23,114,046

 

$

21,134,282

 
Allowance for Credit Losses by Portfolio Class

The following schedules show activity in the allowance for credit losses by portfolio class for the years ended December 31, 2022 and 2021, as well as the corresponding recorded investment in loans at December 31, 2022 and 2021. Effective January 1, 2020, the Company adopted the provisions of ASC 326 (CECL) using a modified retrospective basis.

 

 

 

Commercial Non-Real Estate

 

 

Commercial Real Estate-Owner Occupied

 

 

Total Commercial and Industrial

 

 

Commercial Real Estate-Income Producing

 

 

Construction and Land Development

 

 

Residential Mortgages

 

 

Consumer

 

 

Total

 

($ in thousands)

 

Year Ended December 31, 2022

 

Allowance for credit losses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for loan losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

95,888

 

 

$

53,433

 

 

$

149,321

 

 

$

108,058

 

 

$

22,102

 

 

$

30,623

 

 

$

31,961

 

 

$

342,065

 

Charge-offs

 

 

(7,637

)

 

 

(948

)

 

 

(8,585

)

 

 

(1,073

)

 

 

(3

)

 

 

(137

)

 

 

(12,792

)

 

 

(22,590

)

Recoveries

 

 

11,812

 

 

 

733

 

 

 

12,545

 

 

 

878

 

 

 

134

 

 

 

1,749

 

 

 

5,382

 

 

 

20,688

 

Net provision for loan losses

 

 

(3,602

)

 

 

(4,934

)

 

 

(8,536

)

 

 

(35,902

)

 

 

8,265

 

 

 

229

 

 

 

3,570

 

 

 

(32,374

)

Ending balance - allowance for loan losses

 

$

96,461

 

 

$

48,284

 

 

$

144,745

 

 

$

71,961

 

 

$

30,498

 

 

$

32,464

 

 

$

28,121

 

 

$

307,789

 

Reserve for unfunded lending commitments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

4,522

 

 

$

323

 

 

$

4,845

 

 

$

1,694

 

 

$

21,907

 

 

$

22

 

 

$

866

 

 

$

29,334

 

Provision for losses on unfunded
   commitments

 

 

462

 

 

 

(21

)

 

 

441

 

 

 

(299

)

 

 

3,203

 

 

 

9

 

 

 

621

 

 

 

3,975

 

Ending balance - reserve for unfunded
   lending commitments

 

$

4,984

 

 

$

302

 

 

$

5,286

 

 

$

1,395

 

 

$

25,110

 

 

$

31

 

 

$

1,487

 

 

$

33,309

 

Total allowance for credit losses

 

$

101,445

 

 

$

48,586

 

 

$

150,031

 

 

$

73,356

 

 

$

55,608

 

 

$

32,495

 

 

$

29,608

 

 

$

341,098

 

Allowance for loan losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually evaluated

 

$

71

 

 

$

31

 

 

$

102

 

 

$

16

 

 

$

18

 

 

$

239

 

 

$

101

 

 

$

476

 

Collectively evaluated

 

 

96,390

 

 

 

48,253

 

 

 

144,643

 

 

 

71,945

 

 

 

30,480

 

 

 

32,225

 

 

 

28,020

 

 

 

307,313

 

Allowance for loan losses

 

$

96,461

 

 

$

48,284

 

 

$

144,745

 

 

$

71,961

 

 

$

30,498

 

 

$

32,464

 

 

$

28,121

 

 

$

307,789

 

Reserve for unfunded lending commitments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually evaluated

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Collectively evaluated

 

 

4,984

 

 

 

302

 

 

 

5,286

 

 

 

1,395

 

 

 

25,110

 

 

 

31

 

 

 

1,487

 

 

 

33,309

 

Reserve for unfunded lending commitments

 

$

4,984

 

 

$

302

 

 

$

5,286

 

 

$

1,395

 

 

$

25,110

 

 

$

31

 

 

$

1,487

 

 

$

33,309

 

Total allowance for credit losses

 

$

101,445

 

 

$

48,586

 

 

$

150,031

 

 

$

73,356

 

 

$

55,608

 

 

$

32,495

 

 

$

29,608

 

 

$

341,098

 

Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually evaluated for impairment

 

$

1,248

 

 

$

920

 

 

$

2,168

 

 

$

1,240

 

 

$

116

 

 

$

3,476

 

 

$

515

 

 

$

7,515

 

Collectively evaluated for impairment

 

 

10,145,205

 

 

 

3,032,138

 

 

 

13,177,343

 

 

 

3,559,751

 

 

 

1,703,476

 

 

 

3,089,129

 

 

 

1,576,832

 

 

 

23,106,531

 

Total loans

 

$

10,146,453

 

 

$

3,033,058

 

 

$

13,179,511

 

 

$

3,560,991

 

 

$

1,703,592

 

 

$

3,092,605

 

 

$

1,577,347

 

 

$

23,114,046

 

 
Composition of Nonaccrual Loans and Without an Allowance for Loan Loss by Portfolio Class

The following table shows the composition of nonaccrual loans and those without an allowance for loan loss, by portfolio class.

 

 

December 31,

 

 

2022

 

 

2021

 

($ in thousands)

Total
nonaccrual

 

Nonaccrual
without
allowance for
loan loss

 

 

Total
nonaccrual

 

Nonaccrual
without
allowance for
loan loss

 

Commercial non-real estate

$

4,020

 

$

941

 

 

$

6,974

 

$

1,264

 

Commercial real estate - owner occupied

 

1,461

 

 

692

 

 

 

4,921

 

 

729

 

Total commercial and industrial

 

5,481

 

 

1,633

 

 

 

11,895

 

 

1,993

 

Commercial real estate - income producing

 

1,240

 

 

1,174

 

 

 

5,458

 

 

5,207

 

Construction and land development

 

309

 

 

—

 

 

 

844

 

 

—

 

Residential mortgages

 

25,269

 

 

1,884

 

 

 

25,439

 

 

1,997

 

Consumer

 

6,692

 

 

—

 

 

 

11,887

 

 

48

 

Total loans

$

38,991

 

$

4,691

 

 

$

55,523

 

$

9,245

 
Troubled Debt Restructurings Modified by Portfolio Class

The table below presents detail by portfolio class TDRs that were modified during the years ended December 31, 2022, 2021 and 2020.

 

 

Years Ended

 

($ in thousands)

2022

 

 

2021

 

 

2020

 

 

 

 

Outstanding
Recorded Investment

 

 

 

 

Outstanding
Recorded Investment

 

 

 

 

Outstanding
Recorded Investment

 

Troubled Debt Restructurings:

Number of
Contracts

 

Pre-
Modification

 

Post-
Modification

 

 

Number of
Contracts

 

Pre-
Modification

 

Post-
Modification

 

 

Number of
Contracts

 

Pre-
Modification

 

Post-
Modification

 

Commercial non-real estate

 

—

 

$

—

 

$

—

 

 

 

4

 

$

7,232

 

$

7,232

 

 

 

3

 

$

745

 

$

745

 

Commercial real estate -
   owner occupied

 

—

 

 

—

 

 

—

 

 

 

—

 

 

—

 

 

—

 

 

 

1

 

 

297

 

 

297

 

Total commercial
   and industrial

 

—

 

 

—

 

 

—

 

 

 

4

 

 

7,232

 

 

7,232

 

 

 

4

 

 

1,042

 

 

1,042

 

Commercial real estate -
   income producing

 

—

 

 

—

 

 

—

 

 

 

—

 

 

—

 

 

—

 

 

 

—

 

 

—

 

 

—

 

Construction and land
   development

 

—

 

 

—

 

 

—

 

 

 

—

 

 

—

 

 

—

 

 

 

1

 

 

15

 

 

15

 

Residential mortgages

 

3

 

 

148

 

 

153

 

 

 

6

 

 

1,489

 

 

1,512

 

 

 

15

 

 

3,424

 

 

3,424

 

Consumer

 

3

 

 

76

 

 

76

 

 

 

4

 

 

86

 

 

86

 

 

 

6

 

 

89

 

 

89

 

Total loans

 

6

 

$

224

 

$

229

 

 

 

14

 

$

8,807

 

$

8,830

 

 

 

26

 

$

4,570

 

$

4,570

 
Aging Analysis of Past Due Loans by Portfolio Class

The tables below present the aging analysis of past due loans by portfolio class at December 31, 2022 and 2021.

 

December 31, 2022

30-59 Days
Past Due

 

60-89
Days
Past Due

 

Greater
Than
90 Days
Past Due

 

Total
Past Due

 

Current

 

Total
Loans

 

Recorded
Investment
> 90 Days
and Accruing

 

($ in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial non-real estate

$

4,050

 

$

21,329

 

$

3,418

 

$

28,797

 

$

10,117,656

 

$

10,146,453

 

$

996

 

Commercial real estate - owner occupied

 

19,069

 

 

3,346

 

 

1,894

 

 

24,309

 

 

3,008,749

 

 

3,033,058

 

 

1,623

 

Total commercial and industrial

 

23,119

 

 

24,675

 

 

5,312

 

 

53,106

 

 

13,126,405

 

 

13,179,511

 

 

2,619

 

Commercial real estate - income producing

 

879

 

 

—

 

 

1,174

 

 

2,053

 

 

3,558,938

 

 

3,560,991

 

 

—

 

Construction and land development

 

4,029

 

 

242

 

 

133

 

 

4,404

 

 

1,699,188

 

 

1,703,592

 

 

54

 

Residential mortgages

 

28,208

 

 

11,056

 

 

17,346

 

 

56,610

 

 

3,035,995

 

 

3,092,605

 

 

293

 

Consumer

 

8,845

 

 

2,806

 

 

4,407

 

 

16,058

 

 

1,561,289

 

 

1,577,347

 

 

1,619

 

Total loans

$

65,080

 

$

38,779

 

$

28,372

 

$

132,231

 

$

22,981,815

 

$

23,114,046

 

$

4,585

 

 

December 31, 2021

30-59 Days
Past Due

 

60-89
Days
Past Due

 

Greater
Than
90 Days
Past Due

 

Total
Past Due

 

Current

 

Total
Loans

 

Recorded
Investment
> 90 Days
and Accruing

 

($ in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial non-real estate

$

8,381

 

$

3,123

 

$

7,041

 

$

18,545

 

$

9,593,915

 

$

9,612,460

 

$

2,818

 

Commercial real estate - owner occupied

 

704

 

 

653

 

 

1,563

 

 

2,920

 

 

2,818,326

 

 

2,821,246

 

 

142

 

Total commercial and industrial

 

9,085

 

 

3,776

 

 

8,604

 

 

21,465

 

 

12,412,241

 

 

12,433,706

 

 

2,960

 

Commercial real estate - income producing

 

281

 

 

107

 

 

5,307

 

 

5,695

 

 

3,458,931

 

 

3,464,626

 

 

—

 

Construction and land development

 

2,624

 

 

1,022

 

 

587

 

 

4,233

 

 

1,224,437

 

 

1,228,670

 

 

83

 

Residential mortgages

 

23,306

 

 

4,638

 

 

15,339

 

 

43,283

 

 

2,380,607

 

 

2,423,890

 

 

310

 

Consumer

 

6,806

 

 

2,805

 

 

7,447

 

 

17,058

 

 

1,566,332

 

 

1,583,390

 

 

2,171

 

Total loans

$

42,102

 

$

12,348

 

$

37,284

 

$

91,734

 

$

21,042,548

 

$

21,134,282

 

$

5,524

 
Credit Quality Indicators by Segment and Portfolio Class

The following tables present credit quality disclosures of amortized cost by segment and vintage for term loans and by revolving and revolving converted to amortizing at December 31, 2022 and 2021. The Company defines vintage as the later of origination, renewal or restructure date.

 

 

Term Loans

 

 

 

 

 

 

 

 

Amortized Cost Basis by Origination Year

 

 

 

 

 

 

 

December 31, 2022
 ($ in thousands)

2022

 

2021

 

2020

 

2019

 

2018

 

Prior

 

Revolving
Loans

 

Revolving
Loans
Converted
to Term
Loans

 

Total

 

Commercial Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

$

4,789,035

 

$

3,608,540

 

$

2,026,017

 

$

1,327,839

 

$

779,966

 

$

1,539,131

 

$

3,482,828

 

$

131,222

 

$

17,684,578

 

Pass-Watch

 

84,696

 

 

64,263

 

 

94,484

 

 

46,483

 

 

31,375

 

 

58,567

 

 

67,767

 

 

9,985

 

$

457,620

 

Special
   Mention

 

30,511

 

 

13,625

 

 

3,694

 

 

7,749

 

 

1,719

 

 

5,701

 

 

25,184

 

 

2,070

 

$

90,253

 

Substandard

 

50,016

 

 

14,409

 

 

21,266

 

 

29,350

 

 

21,637

 

 

23,593

 

 

40,213

 

 

11,159

 

$

211,643

 

Doubtful

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total Commercial
   Loans

$

4,954,258

 

$

3,700,837

 

$

2,145,461

 

$

1,411,421

 

$

834,697

 

$

1,626,992

 

$

3,615,992

 

$

154,436

 

$

18,444,094

 

Residential
   Mortgage and
   Consumer Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

$

735,080

 

$

752,352

 

$

564,345

 

$

255,146

 

$

149,234

 

$

959,409

 

$

1,216,105

 

$

4,834

 

 

4,636,505

 

Nonperforming

 

1,251

 

 

2,632

 

 

944

 

 

1,954

 

 

2,461

 

 

22,143

 

 

459

 

 

1,603

 

 

33,447

 

Total Consumer
   Loans

$

736,331

 

$

754,984

 

$

565,289

 

$

257,100

 

$

151,695

 

$

981,552

 

$

1,216,564

 

$

6,437

 

$

4,669,952

 

 

 

 

Term Loans

 

 

 

 

 

 

 

 

Amortized Cost Basis by Origination Year

 

 

 

 

 

 

 

December 31, 2021
 ($ in thousands)

2021

 

2020

 

2019

 

2018

 

2017

 

Prior

 

Revolving
Loans

 

Revolving
Loans
Converted
to Term
Loans

 

Total

 

Commercial Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

$

4,946,459

 

$

3,008,160

 

$

2,035,849

 

$

1,212,306

 

$

937,639

 

$

1,296,382

 

$

3,002,064

 

$

80,535

 

$

16,519,394

 

Pass-Watch

 

68,421

 

 

19,467

 

 

31,598

 

 

45,846

 

 

27,188

 

 

69,310

 

 

52,850

 

 

5,714

 

 

320,394

 

Special
   Mention

 

17,536

 

 

2,683

 

 

10,296

 

 

12,410

 

 

10,669

 

 

3,656

 

 

9,603

 

 

6,243

 

 

73,096

 

Substandard

 

43,895

 

 

43,494

 

 

36,763

 

 

14,664

 

 

28,337

 

 

16,125

 

 

20,358

 

 

10,482

 

 

214,118

 

Doubtful

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total Commercial
   Loans

$

5,076,311

 

$

3,073,804

 

$

2,114,506

 

$

1,285,226

 

$

1,003,833

 

$

1,385,473

 

$

3,084,875

 

$

102,974

 

$

17,127,002

 

Residential
   Mortgage and
   Consumer Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

$

580,813

 

$

467,497

 

$

355,833

 

$

223,494

 

$

320,344

 

$

892,361

 

$

1,120,461

 

$

5,995

 

 

3,966,798

 

Nonperforming

 

565

 

 

951

 

 

2,018

 

 

4,465

 

 

4,719

 

 

24,365

 

 

1,432

 

 

1,967

 

 

40,482

 

Total Consumer
   Loans

$

581,378

 

$

468,448

 

$

357,851

 

$

227,959

 

$

325,063

 

$

916,726

 

$

1,121,893

 

$

7,962

 

$

4,007,280

 
Total Commercial [Member]  
Accounts Notes And Loans Receivable [Line Items]  
Credit Quality Indicators by Segment and Portfolio Class

The following tables present the credit quality indicators by segment and portfolio class of loans at December 31, 2022 and December 31, 2021.

 

 

December 31, 2022

 

($ in thousands)

Commercial Non-
Real Estate

 

Commercial Real
Estate - Owner
Occupied

 

Total Commercial
and Industrial

 

Commercial Real
Estate - Income
Producing

 

Construction and
Land Development

 

Total Commercial

 

Grade:

 

 

 

 

 

 

 

 

 

 

 

 

Pass

$

9,641,117

 

$

2,912,057

 

$

12,553,174

 

$

3,440,648

 

$

1,690,756

 

$

17,684,578

 

Pass-Watch

 

284,843

 

 

49,093

 

 

333,936

 

 

111,587

 

 

12,097

 

 

457,620

 

Special Mention

 

79,980

 

 

6,267

 

 

86,247

 

 

3,810

 

 

196

 

 

90,253

 

Substandard

 

140,513

 

 

65,641

 

 

206,154

 

 

4,946

 

 

543

 

 

211,643

 

Doubtful

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total

$

10,146,453

 

$

3,033,058

 

$

13,179,511

 

$

3,560,991

 

$

1,703,592

 

$

18,444,094

 

 

 

December 31, 2021

 

($ in thousands)

Commercial Non-
Real Estate

 

Commercial Real
Estate - Owner
Occupied

 

Total Commercial
and Industrial

 

Commercial Real
Estate - Income
Producing

 

Construction and
Land Development

 

Total Commercial

 

Grade:

 

 

 

 

 

 

 

 

 

 

 

 

Pass

$

9,279,719

 

$

2,650,399

 

$

11,930,118

 

$

3,373,099

 

$

1,216,177

 

$

16,519,394

 

Pass-Watch

 

157,815

 

 

86,133

 

 

243,948

 

 

67,157

 

 

9,289

 

 

320,394

 

Special Mention

 

43,344

 

 

23,377

 

 

66,721

 

 

4,466

 

 

1,909

 

 

73,096

 

Substandard

 

131,582

 

 

61,337

 

 

192,919

 

 

19,904

 

 

1,295

 

 

214,118

 

Doubtful

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

 

—

 

Total

$

9,612,460

 

$

2,821,246

 

$

12,433,706

 

$

3,464,626

 

$

1,228,670

 

$

17,127,002

 
Residential Mortgage and Consumer [Member]  
Accounts Notes And Loans Receivable [Line Items]  
Credit Quality Indicators by Segment and Portfolio Class

 

December 31, 2022

 

December 31, 2021

 

($ in thousands)

Residential
Mortgage

 

Consumer

 

Total

 

Residential
Mortgage

 

Consumer

 

Total

 

Performing

$

3,066,319

 

$

1,570,186

 

$

4,636,505

 

$

2,396,282

 

$

1,570,516

 

$

3,966,798

 

Nonperforming

 

26,286

 

 

7,161

 

 

33,447

 

 

27,608

 

 

12,874

 

 

40,482

 

Total

$

3,092,605

 

$

1,577,347

 

$

4,669,952

 

$

2,423,890

 

$

1,583,390

 

$

4,007,280