Loans and Allowance for Credit Losses

9 Months Ended

Sep. 30, 2025

Receivables [Abstract]

Loans and Allowance for Credit Losses

4. Loans and Allowance for Credit Losses

The Company generally makes loans in its market areas of southern and central Mississippi; southern and central Alabama; northwest, central and southern Louisiana; the northern, central and panhandle regions of Florida; certain areas of east and northeast Texas; and the metropolitan areas of Nashville, Tennessee and Atlanta, Georgia. In addition, and to a lesser degree, the Bank makes loans both regionally and nationally, generally through its specialty lines of business, including the equipment finance, commercial real estate and healthcare segments, often with sponsors in our market areas.

The following table presents loans at their amortized cost basis, by portfolio class at September 30, 2025 and December 31, 2024. The amortized cost basis is net of unearned income and excludes accrued interest totaling $107.6 million and $109.8 million at September 30, 2025 and December 31, 2024, respectively. Accrued interest is reflected in the accrued interest line item in the Consolidated Balance Sheets.

	September 30,		December 31,
($ in thousands)	2025		2024
Commercial non-real estate	$	9,680,597	$	9,876,592
Commercial real estate - owner occupied		3,279,258		3,011,955
Total commercial and industrial		12,959,855		12,888,547
Commercial real estate - income producing		4,076,643		3,798,612
Construction and land development		1,197,305		1,281,115
Residential mortgages		4,027,600		3,961,328
Consumer		1,335,162		1,369,845
Total loans	$	23,596,565	$	23,299,447

The following briefly describes the composition of each loan category and portfolio class.

Commercial and industrial

Commercial and industrial loans are made available to businesses for working capital (including financing of inventory and receivables), for business expansion, facilitating the acquisition of a business, and for the purchase of equipment and machinery, including equipment leasing. These loans are primarily made based on the identified cash flows of the borrower and, when secured, have the added strength of the underlying collateral.

Commercial non-real estate loans may be secured by the assets being financed or other tangible or intangible business assets such as accounts receivable, inventory, ownership, enterprise value or commodity interests, and may incorporate a personal or corporate guarantee; however, some short-term loans may be made on an unsecured basis, including a small portfolio of corporate credit cards, generally issued as a part of overall customer relationships.

Commercial real estate – owner occupied loans consist of commercial mortgages on properties where repayment is generally dependent on the cash flow from the ongoing operations and activities of the borrower. Like commercial non-real estate, these loans are primarily made based on the identified cash flows of the borrower, but also have the added strength of the value of underlying real estate collateral.

Commercial real estate – income producing

Commercial real estate – income producing loans consist of loans secured by commercial mortgages on properties where the loan is made to real estate developers or investors and repayment is dependent on the sale, refinance, or income generated from the operation of the property. Properties financed include multifamily, retail, healthcare related facilities, industrial, office, hotel/motel and restaurants, and other commercial properties.

Construction and land development

Construction and land development loans are made to facilitate the acquisition, development, improvement and construction of both commercial and residential-purpose properties. Such loans are made to builders and investors where repayment is expected to be made from the sale, refinance or operation of the property or to businesses to be used in their business operations. This portfolio also includes residential construction loans and loans secured by raw land not yet under development.

Residential mortgages

Residential mortgages consist of closed-end loans secured by first liens on 1-4 family residential properties. The portfolio includes both fixed and adjustable rate loans, although most longer-term, fixed rate loans originated are sold in the secondary mortgage market.

Consumer

Consumer loans include second lien mortgage home loans, home equity lines of credit and nonresidential consumer purpose loans. Nonresidential consumer loans include both direct and indirect loans. Direct nonresidential consumer loans are made to finance the purchase of personal property, including automobiles, recreational vehicles and boats, and for other personal purposes (secured and unsecured), and also include deposit account secured loans. Indirect nonresidential consumer loans include automobile financing provided to the consumer through an agreement with automobile dealerships, though the Company is no longer engaged in this type of lending and the remaining portfolio is in runoff. Consumer loans also include a small portfolio of credit card receivables issued on the basis of applications received through referrals from the Bank’s branches, online and other marketing efforts.

Allowance for Credit Losses

The calculation of the allowance for credit losses is performed using two primary approaches: a collective approach for pools of loans that have similar risk characteristics using a loss rate analysis, and a specific reserve analysis for credits individually evaluated. The allowance for credit losses for collectively evaluated portfolios is developed using multiple Moody’s macroeconomic forecasts applied to internally developed credit models for a two-year reasonable and supportable period.

The following tables present activity in the allowance for credit losses by portfolio class for the nine months ended September 30, 2025 and 2024, as well as the allowance for credit loss by primary calculation method at the end of each period.

	Nine Months Ended September 30, 2025
				Commercial			Total			Commercial
	Commercial			Real Estate-			Commercial			Real Estate-			Construction
	Non-Real			Owner			and			Income			and Land			Residential
($ in thousands)	Estate			Occupied			Industrial			Producing			Development			Mortgages			Consumer			Total
Allowance for credit losses
Allowance for loan losses:
Beginning balance	$	121,090		$	36,264		$	157,354		$	71,975		$	21,158		$	42,445		$	25,950		$	318,882
Charge-offs		(32,445	)		(4,626	)		(37,071	)		(34	)		(1,291	)		(678	)		(12,283	)		(51,357	)
Recoveries		8,484			541			9,025			12			123			521			2,213			11,894
Provision for loan losses		28,725			7,857			36,582			(9,798	)		(2,779	)		343			9,869			34,217
Ending balance - allowance for loan losses	$	125,854		$	40,036		$	165,890		$	62,155		$	17,211		$	42,631		$	25,749		$	313,636
Reserve for unfunded lending commitments:
Beginning balance	$	6,441		$	309		$	6,750		$	642		$	14,639		$	4		$	2,018		$	24,053
Provision for losses on unfunded commitments		3,785			(1	)		3,784			3			168			(3	)		(131	)		3,821
Ending balance - reserve for unfunded lending commitments		10,226			308			10,534			645			14,807			1			1,887			27,874
Total allowance for credit losses	$	136,080		$	40,344		$	176,424		$	62,800		$	32,018		$	42,632		$	27,636		$	341,510
Allowance for credit losses:
Individually evaluated	$	11,131		$	604		$	11,735		$	—		$	—		$	841		$	193		$	12,769
Collectively evaluated	$	124,949		$	39,740		$	164,689		$	62,800		$	32,018		$	41,791		$	27,443		$	328,741

In arriving at the allowance for credit losses at September 30, 2025, the Company weighted Moody’s September 2025 baseline economic forecast at 50%, and the downside mild recessionary S-2 scenario at 50%. The September 2025 baseline scenario, which Moody’s defines as the most likely outcome of where the economy is headed based on current conditions, reflects the impact of increasing tariffs and jobless rates, among other factors, resulting in weak growth in the near term. The S-2 scenario is a more severe scenario compared to the baseline, with economic conditions resulting in a mild recession beginning in the fourth quarter of 2025 and lasting for three quarters.

The allowance for credit losses at September 30, 2025 reflects a modest net decrease in total reserves compared to December 31, 2024, largely driven by the commercial real estate – income producing and the construction and land development portfolios, which was partially offset by increases in commercial non-real estate due to the expected impact of continued stress from current market conditions on our borrowers.

	Nine Months Ended September 30, 2024
				Commercial			Total			Commercial
	Commercial			Real Estate-			Commercial			Real Estate-			Construction
	Non-Real			Owner			and			Income			and Land			Residential
($ in thousands)	Estate			Occupied			Industrial			Producing			Development			Mortgages			Consumer			Total
Allowance for credit losses
Allowance for loan losses:
Beginning balance	$	101,737		$	40,197		$	141,934		$	74,539		$	27,039		$	38,983		$	25,412		$	307,907
Charge-offs		(33,869	)		—			(33,869	)		(8,819	)		(264	)		(229	)		(13,249	)		(56,430	)
Recoveries		18,067			986			19,053			7			62			430			2,586			22,138
Provision for loan losses		22,808			(3,643	)		19,165			12,740			(2,044	)		3,673			10,122			43,656
Ending balance - allowance for loan losses	$	108,743		$	37,540		$	146,283		$	78,467		$	24,793		$	42,857		$	24,871		$	317,271
Reserve for unfunded lending commitments:
Beginning balance	$	5,507		$	327		$	5,834		$	1,344		$	20,019		$	30		$	1,667		$	28,894
Provision for losses on unfunded commitments		752			(43	)		709			(353	)		(4,250	)		(27	)		520			(3,401	)
Ending balance - reserve for unfunded lending commitments		6,259			284			6,543			991			15,769			3			2,187			25,493
Total allowance for credit losses	$	115,002		$	37,824		$	152,826		$	79,458		$	40,562		$	42,860		$	27,058		$	342,764
Allowance for credit losses
Individually evaluated	$	4,996		$	51		$	5,047		$	—		$	—		$	750		$	197		$	5,994
Collectively evaluated	$	110,006		$	37,773		$	147,779		$	79,458		$	40,562		$	42,110		$	26,861		$	336,770

The increase in the allowance for credit loss at September 30, 2024 compared to December 31, 2023, reflected a relatively consistent credit loss outlook with continued focus on risks that impact certain segments within the Company's loan portfolio. In arriving at the allowance for credit losses at September 30, 2024, the Company weighted the baseline economic forecast at 40% and the downside S-2 mild recession scenario at 60%.

Nonaccrual Loans and Certain Reportable Modified Loan Disclosures

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

	September 30, 2025				December 31, 2024
($ in thousands)	Total Nonaccrual		Nonaccrual Without Allowance for Loan Loss		Total Nonaccrual		Nonaccrual Without Allowance for Loan Loss
Commercial non-real estate	$	47,192	$	2,570	$	33,418	$	4,855
Commercial real estate - owner occupied		7,008		522		2,727		1,198
Total commercial and industrial		54,200		3,092		36,145		6,053
Commercial real estate - income producing		4,782		4,021		356		—
Construction and land development		3,281		2,127		5,561		4,929
Residential mortgages		41,026		2,528		44,086		1,475
Consumer		10,265		320		11,187		500
Total loans	$	113,554	$	12,088	$	97,335	$	12,957

As a part of our loss mitigation efforts, we may provide modifications to borrowers experiencing financial difficulty to improve long-term collectability of the loans and to avoid the need for repossession or foreclosure of collateral. Nonaccrual loans include reportable nonaccruing modified loans to borrowers experiencing financial difficulty (“MEFDs”) totaling $9.3 million and $20.2 million at September 30, 2025 and December 31, 2024, respectively. Total reportable MEFDs, both accruing and nonaccruing, were $91.5 million and $99.5 million at September 30, 2025 and December 31, 2024, respectively. The Company had unfunded exposure to borrowers whose loan terms have been modified as a reportable MEFD totaling $4.7 million and $6.9 million at September 30, 2025 and December 31, 2024, respectively.

The tables below provide detail by portfolio class for reportable MEFDs entered into during the three and nine months ended September 30, 2025 and 2024. Modified facilities are reported using the balance at the end of each period reported and are reflected only once in each table based on the type of modification or combination of modification.

	Three Months Ended September 30, 2025
	Term Extension					Significant Payment Delay				Term Extensions and Significant Payment Delay					Other(1)
($ in thousands)	Balance		Percentage of Portfolio			Balance		Percentage of Portfolio		Balance		Percentage of Portfolio			Balance		Percentage of Portfolio
Commercial non-real estate	$	57,892		0.60	%	$	—		—	$	—		—		$	—		—
Commercial real estate - owner occupied		—		—			—		—		—		—			—		—
Total commercial and industrial		57,892		0.45	%		—		—		—		—			—		—
Commercial real estate - income producing		—		—			—		—		—		—			—		—
Construction and land development		—		—			—		—		—		—			—		—
Residential mortgages		1,271		0.03	%		—		—		2,077		0.05	%		606		0.02	%
Consumer		43		0.00	%		—		—		150		0.01	%		—		—
Total reportable modified loans	$	59,206		0.25	%	$	—		—	$	2,227		0.01	%	$	606		0.00	%
(1) Includes interest rate reduction and term extensions.

	Nine Months Ended September 30, 2025
	Term Extension					Significant Payment Delay					Term Extensions and Significant Payment Delay					Other(1)
($ in thousands)	Balance		Percentage of Portfolio			Balance		Percentage of Portfolio			Balance		Percentage of Portfolio			Balance		Percentage of Portfolio
Commercial non-real estate	$	63,408		0.66	%	$	8,976		0.09	%	$	70		0.00	%	$	—		—
Commercial real estate - owner occupied		340		0.01	%		—		—			—		—			—		—
Total commercial and industrial		63,748		0.49	%		8,976		0.07	%		70		0.00	%		—		—
Commercial real estate - income producing		—		—			—		—			—		—			—		—
Construction and land development		—		—			—		—			—		—			—		—
Residential mortgages		14,537		0.36	%		413		0.01	%		2,077		0.05	%		606		0.02	%
Consumer		43		0.00	%		—		—			150		0.01	%		—		—
Total reportable modified loans	$	78,328		0.33	%	$	9,389		0.04	%	$	2,297		0.01	%	$	606		0.00	%
(1) Includes interest rate reduction and term extensions.

	Three Months Ended September 30, 2024
	Term Extension					Significant Payment Delay				Term Extensions and Significant Payment Delay
($ in thousands)	Balance		Percentage of Portfolio			Balance		Percentage of Portfolio		Balance		Percentage of Portfolio
Commercial non-real estate	$	48,913		0.51	%	$	—		—	$	17,020		0.18	%
Commercial real estate - owner occupied		—		—			—		—		—		—
Total commercial and industrial		48,913		0.39	%		—		—		17,020		0.13	%
Commercial real estate - income producing		3,050		0.08	%		—		—		—		—
Construction and land development		—		—			—		—		—		—
Residential mortgages		988		0.02	%		—		—		—		—
Consumer		—		—			—		—		—		—
Total reportable modified loans	$	52,951		0.23	%	$	—		—	$	17,020		0.07	%

	Nine Months Ended September 30, 2024
	Term Extension					Significant Payment Delay				Term Extensions and Significant Payment Delay
($ in thousands)	Balance		Percentage of Portfolio			Balance		Percentage of Portfolio		Balance		Percentage of Portfolio
Commercial non-real estate	$	65,619		0.68	%	$	—		—	$	17,020		0.18	%
Commercial real estate - owner occupied		—		—			—		—		—		—
Total commercial and industrial		65,619		0.52	%		—		—		17,020		0.13	%
Commercial real estate - income producing		3,050		0.08	%		—		—		—		—
Construction and land development		—		—			—		—		—		—
Residential mortgages		3,618		0.09	%		—		—		—		—
Consumer		143		0.01	%		—		—		—		—
Total reportable modified loans	$	72,430		0.31	%	$	—		—	$	17,020		0.07	%

Reportable modifications to borrowers experiencing financial difficulty during the three months ended September 30, 2025 consisted of weighted average term extensions totaling approximately seven months for commercial loans and 3 years for residential mortgage and consumer loans. Reportable modifications to borrowers experiencing financial difficulty during the nine months ended September 30, 2025 consisted of weighted average term extensions totaling approximately 11 months for commercial loans and 18 months for residential mortgage loans and 31 months for consumer. The weighted average term of other than insignificant payment delays for the three months ended September 30, 2025 was 1 year for residential loans and 7 months for consumer loans. The weighted average term of other than insignificant payment delays for the nine months ended September 30, 2025 was four months for commercial loans and 10 months for residential mortgage loans and seven months for consumer. The weighted-average interest rate reduction for the three and nine months ended September 30, 2025 for the residential portfolio was 240 basis points Reported term extensions and payment delays are considered more than insignificant when they exceed six months when considering other modifications made in the past twelve months.

Reportable modifications to borrowers experiencing financial difficulty during the three months ended September 30, 2024 consisted of weighted average term extensions totaling approximately nine months for commercial loans, and two years for residential mortgage loans. Reportable modifications to borrowers experiencing financial difficulty during the nine months ended September 30, 2024 consisted of weighted average term extensions totaling approximately nine months for commercial loans, five years for residential mortgage loans and four years for consumer loans. The weighted average term of other than insignificant payment delays was three months for commercial loans during both the three and nine months ended September 30, 2024.

The tables that follow present the aging analysis of reportable modifications to borrowers experiencing financial difficulty by portfolio class at September 30, 2025 and December 31, 2024.

	September 30, 2025
(in thousands)	30-59 Days Past Due		60-89 Days Past Due		Greater than 90 Days Past Due		Total Past Due		Current		Total Reportable Modified Loans
Commercial non-real estate	$	—	$	6,423	$	3,340	$	9,763	$	63,606	$	73,369
Commercial real estate - owner occupied		—		—		—		—		340		340
Total commercial and industrial		—		6,423		3,340		9,763		63,946		73,709
Commercial real estate - income producing		—		—		—		—		—		—
Construction and land development		—		—		—		—		—		—
Residential mortgages		—		40		—		40		17,593		17,633
Consumer		—		—		150		150		43		193
Total reportable modified loans	$	—	$	6,463	$	3,490	$	9,953	$	81,582	$	91,535

	December 31, 2024
(in thousands)	30-59 Days Past Due		60-89 Days Past Due		Greater than 90 Days Past Due		Total Past Due		Current		Total Reportable Modified Loans
Commercial non-real estate	$	1,975	$	—	$	12,548	$	14,523	$	78,934	$	93,457
Commercial real estate - owner occupied		—		—		—		—		—		—
Total commercial and industrial		1,975		—		12,548		14,523		78,934		93,457
Commercial real estate - income producing		—		826		—		826		1,915		2,741
Construction and land development		—		—		—		—		—		—
Residential mortgages		179		249		501		929		2,241		3,170
Consumer		—		—		—		—		131		131
Total reportable modified loans	$	2,154	$	1,075	$	13,049	$	16,278	$	83,221	$	99,499

There were loans to two commercial borrowers totaling $3.3 million and one consumer loan totaling $0.1 million with reportable term extensions and/or significant payment delays that had post modification payment defaults during the three months ended September 30, 2025. For the nine month period ended September 30, 2025, there were loans to seven commercial borrowers totaling $27.6 million, and two consumer borrowers totaling $0.2 million with reportable term extension modifications, significant payment delays and/or interest rate reductions that had post modification payment defaults. There were loans to three commercial borrowers totaling $3.6 million, two residential mortgage borrowers totaling $0.3 million and one consumer borrower totaling $0.2 million with reportable term extensions and/or significant payment delays and interest rate reduction modifications that had post modification payment defaults during the three month period ended September 30, 2024. For the nine month period ended September 30, 2024, there were loans to six commercial borrowers totaling $13.2 million, three residential mortgage borrowers totaling $0.4 million, and one consumer borrower totaling $0.2 million with reportable term extensions and/or significant payment delays and interest rate reduction modifications that had post modification payment defaults. A payment default occurs if the loan is either 90 days or more delinquent or has been charged off as of the end of the period presented.

Aging Analysis

The tables below present the aging analysis of past due loans by portfolio class at September 30, 2025 and December 31, 2024.

	September 30, 2025
($ in thousands)	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 Still Accruing
Commercial non-real estate	$	5,222	$	12,940	$	45,260	$	63,422	$	9,617,175	$	9,680,597	$	20,134
Commercial real estate - owner occupied		2,094		1,343		7,792		11,229		3,268,029		3,279,258		1,346
Total commercial and industrial		7,316		14,283		53,052		74,651		12,885,204		12,959,855		21,480
Commercial real estate - income producing		3,092		149		4,226		7,467		4,069,176		4,076,643		—
Construction and land development		1,096		627		3,082		4,805		1,192,500		1,197,305		147
Residential mortgages		14,335		18,898		30,275		63,508		3,964,092		4,027,600		7
Consumer		8,400		3,558		9,418		21,376		1,313,786		1,335,162		2,942
Total loans	$	34,239	$	37,515	$	100,053	$	171,807	$	23,424,758	$	23,596,565	$	24,576

	December 31, 2024
($ in thousands)	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 Still Accruing
Commercial non-real estate	$	19,326	$	5,264	$	27,756	$	52,346	$	9,824,246	$	9,876,592	$	14,557
Commercial real estate - owner occupied		1,113		38		3,747		4,898		3,007,057		3,011,955		1,097
Total commercial and industrial		20,439		5,302		31,503		57,244		12,831,303		12,888,547		15,654
Commercial real estate - income producing		220		5,417		464		6,101		3,792,511		3,798,612		150
Construction and land development		1,066		3,773		5,314		10,153		1,270,962		1,281,115		3,563
Residential mortgages		42,211		25,050		34,113		101,374		3,859,954		3,961,328		27
Consumer		10,770		5,381		8,504		24,655		1,345,190		1,369,845		2,458
Total loans	$	74,706	$	44,923	$	79,898	$	199,527	$	23,099,920	$	23,299,447	$	21,852

Credit Quality Indicators

The following tables present the credit quality indicators by segment and portfolio class of loans at September 30, 2025 and December 31, 2024. The Company routinely assesses the ratings of loans in its portfolio through an established and comprehensive portfolio management process.

	September 30, 2025
($ 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	$	8,979,717	$	3,089,082	$	12,068,799	$	3,888,691	$	1,130,795	$	17,088,285
Pass-Watch		302,204		131,455		433,659		129,411		33,270		596,340
Special Mention		91,828		29,862		121,690		8,308		28,370		158,368
Substandard		306,848		28,859		335,707		50,233		4,870		390,810
Doubtful		—		—		—		—		—		—
Total	$	9,680,597	$	3,279,258	$	12,959,855	$	4,076,643	$	1,197,305	$	18,233,803

	December 31, 2024
($ 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	$	9,157,232	$	2,833,228	$	11,990,460	$	3,625,981	$	1,207,404	$	16,823,845
Pass-Watch		219,975		135,566		355,541		99,638		66,221		521,400
Special Mention		149,705		17,901		167,606		22,278		1,014		190,898
Substandard		349,680		25,260		374,940		50,715		6,476		432,131
Doubtful		—		—		—		—		—		—
Total	$	9,876,592	$	3,011,955	$	12,888,547	$	3,798,612	$	1,281,115	$	17,968,274

	September 30, 2025						December 31, 2024
($ in thousands)	Residential Mortgage		Consumer		Total		Residential Mortgage		Consumer		Total
Performing	$	3,986,574	$	1,324,897	$	5,311,471	$	3,917,242	$	1,358,658	$	5,275,900
Nonperforming		41,026		10,265		51,291		44,086		11,187		55,273
Total	$	4,027,600	$	1,335,162	$	5,362,762	$	3,961,328	$	1,369,845	$	5,331,173

Below are the definitions of the Company’s internally assigned grades:

Commercial:

•Pass – loans properly approved, documented, collateralized, and performing which do not reflect an abnormal credit risk.

•Pass-Watch – credits in this category are of sufficient risk to cause concern. This category is reserved for credits that display negative performance trends. The “Watch” grade should be regarded as a transition category.

•Special Mention – a criticized asset category defined as having potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may, at some future date, result in the deterioration of the repayment prospects for the credit or the institution’s credit position. Special mention credits are not considered part of the classified credit categories and do not expose the institution to sufficient risk to warrant adverse classification.

•Substandard – an asset that is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Assets so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.

•Doubtful – an asset that has all the weaknesses inherent in one classified substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable.

•Loss – credits classified as loss are considered uncollectable and are charged off promptly once so classified.

Residential and Consumer:

•Performing – accruing loans.

•Nonperforming – loans for which there are good reasons to doubt that payments will be made in full. Nonperforming loans include all loans with nonaccrual status.

Vintage Analysis

The following tables present credit quality disclosures of amortized cost by class and vintage for term loans and by revolving and revolving converted to amortizing at September 30, 2025 and December 31, 2024. The Company defines vintage as the later of origination, renewal or modification date. The gross charge-offs presented in the tables that follow are for the nine months ended September 30, 2025 and the year ended December 31, 2024.

	September 30, 2025
	Term Loans														Revolving Loans
	Amortized Cost Basis by Origination Year												Revolving		Converted to
($ in thousands)	2025		2024		2023		2022		2021		Prior		Loans		Term Loans		Total
Commercial Non-Real Estate:
Pass	$	1,445,220	$	1,325,207	$	781,003	$	867,692	$	616,345	$	949,750	$	2,896,708	$	97,792	$	8,979,717
Pass-Watch		21,700		30,957		47,601		66,406		14,748		20,324		93,375		7,093		302,204
Special Mention		2,322		3,866		2,603		29,735		12,212		4,522		35,189		1,379		91,828
Substandard		12,652		5,151		81,367		96,094		13,767		9,183		65,629		23,005		306,848
Doubtful		—		—		—		—		—		—		—		—		—
Total	$	1,481,894	$	1,365,181	$	912,574	$	1,059,927	$	657,072	$	983,779	$	3,090,901	$	129,269	$	9,680,597
Gross Charge-offs	$	4,774	$	2,116	$	15,042	$	794	$	63	$	727	$	2,370	$	6,559	$	32,445
Commercial Real Estate - Owner Occupied:
Pass	$	484,983	$	407,189	$	320,493	$	481,837	$	477,600	$	800,658	$	67,123	$	49,199	$	3,089,082
Pass-Watch		25,002		16,973		5,101		41,756		10,398		28,687		1,479		2,059		131,455
Special Mention		3,509		3,032		650		15,054		6,135		—		1,482		—		29,862
Substandard		1,585		334		6,719		15,188		929		4,104		—		—		28,859
Doubtful		—		—		—		—		—		—		—		—		—
Total	$	515,079	$	427,528	$	332,963	$	553,835	$	495,062	$	833,449	$	70,084	$	51,258	$	3,279,258
Gross Charge-offs	$	—	$	—	$	86	$	—	$	2,741	$	1,799	$	—	$	—	$	4,626
Commercial Real Estate - Income Producing:
Pass	$	649,232	$	414,766	$	539,778	$	908,450	$	573,984	$	756,410	$	45,474	$	597	$	3,888,691
Pass-Watch		21,420		16,326		5,992		36,936		21,675		26,853		209		—		129,411
Special Mention		7,746		267		295		—		—		—		—		—		8,308
Substandard		215		—		4,021		24,551		2,148		19,135		163		—		50,233
Doubtful		—		—		—		—		—		—		—		—		—
Total	$	678,613	$	431,359	$	550,086	$	969,937	$	597,807	$	802,398	$	45,846	$	597	$	4,076,643
Gross Charge-offs	$	—	$	—	$	—	$	34	$	—	$	—	$	—	$	—	$	34
Construction and Land Development:
Pass	$	194,731	$	348,250	$	218,503	$	139,163	$	76,010	$	16,572	$	131,357	$	6,209	$	1,130,795
Pass-Watch		5,217		998		439		3,045		23,357		214		—		—		33,270
Special Mention		62		—		—		28,125		113		—		—		70		28,370
Substandard		—		187		1,890		2,529		135		129		—		—		4,870
Doubtful		—		—		—		—		—		—		—		—		—
Total	$	200,010	$	349,435	$	220,832	$	172,862	$	99,615	$	16,915	$	131,357	$	6,279	$	1,197,305
Gross Charge-offs	$	—	$	—	$	—	$	1,283	$	—	$	8	$	—	$	—	$	1,291
Residential Mortgage:
Performing	$	306,408	$	132,653	$	410,062	$	1,041,327	$	836,246	$	1,257,018	$	2,860	$	—	$	3,986,574
Nonperforming		—		1,623		9,020		7,372		5,935		17,076		—		—		41,026
Total	$	306,408	$	134,276	$	419,082	$	1,048,699	$	842,181	$	1,274,094	$	2,860	$	—	$	4,027,600
Gross Charge-offs	$	—	$	36	$	286	$	319	$	—	$	37	$	—	$	—	$	678
Consumer Loans:
Performing	$	46,940	$	28,345	$	26,833	$	21,884	$	11,145	$	53,126	$	1,109,277	$	27,347	$	1,324,897
Nonperforming		50		53		366		889		684		4,853		379		2,991		10,265
Total	$	46,990	$	28,398	$	27,199	$	22,773	$	11,829	$	57,979	$	1,109,656	$	30,338	$	1,335,162
Gross Charge-offs	$	32	$	709	$	873	$	1,089	$	447	$	635	$	6,730	$	1,768	$	12,283

	December 31, 2024
	Term Loans														Revolving Loans
	Amortized Cost Basis by Origination Year												Revolving		Converted to
($ in thousands)	2024		2023		2022		2021		2020		Prior		Loans		Term Loans		Total
Commercial Non-Real Estate:
Pass	$	1,794,904	$	1,069,637	$	1,154,669	$	819,520	$	339,594	$	925,046	$	2,946,499	$	107,363	$	9,157,232
Pass-Watch		8,466		46,681		43,379		29,193		12,768		9,851		61,076		8,561		219,975
Special Mention		412		21,337		52,375		6,044		6,234		41		62,934		328		149,705
Substandard		19,839		91,192		117,545		15,225		8,200		2,898		65,138		29,643		349,680
Doubtful		—		—		—		—		—		—		—		—		—
Total	$	1,823,621	$	1,228,847	$	1,367,968	$	869,982	$	366,796	$	937,836	$	3,135,647	$	145,895	$	9,876,592
Gross Charge-offs	$	705	$	7,575	$	7,494	$	11,090	$	213	$	1,837	$	5,952	$	10,622	$	45,488
Commercial Real Estate - Owner Occupied:
Pass	$	365,158	$	319,684	$	537,069	$	524,572	$	433,844	$	554,293	$	97,999	$	609	$	2,833,228
Pass-Watch		18,937		8,575		66,286		5,547		2,695		29,078		3,727		721		135,566
Special Mention		4,417		410		6,759		3,756		—		2,559		—		—		17,901
Substandard		1,322		2,630		5,574		1,563		1,248		12,923		—		—		25,260
Doubtful		—		—		—		—		—		—		—		—		—
Total	$	389,834	$	331,299	$	615,688	$	535,438	$	437,787	$	598,853	$	101,726	$	1,330	$	3,011,955
Gross Charge-offs	$	—	$	—	$	131	$	—	$	—	$	12	$	—	$	—	$	143
Commercial Real Estate - Income Producing:
Pass	$	416,947	$	453,428	$	975,075	$	750,907	$	494,925	$	501,389	$	31,673	$	1,637	$	3,625,981
Pass-Watch		2,586		7,005		43,221		9,399		20,694		16,354		220		159		99,638
Special Mention		20,292		—		1,986		—		—		—		—		—		22,278
Substandard		1,818		18,189		8,604		2,210		19,731		163		—		—		50,715
Doubtful		—		—		—		—		—		—		—		—		—
Total	$	441,643	$	478,622	$	1,028,886	$	762,516	$	535,350	$	517,906	$	31,893	$	1,796	$	3,798,612
Gross Charge-offs	$	—	$	—	$	8,819	$	—	$	—	$	3	$	—	$	—	$	8,822
Construction and Land Development:
Pass	$	237,136	$	418,002	$	296,286	$	103,259	$	33,519	$	14,477	$	102,694	$	2,031	$	1,207,404
Pass-Watch		624		2,279		62,415		391		30		323		159		—		66,221
Special Mention		1,014		—		—		—		—		—		—		—		1,014
Substandard		324		796		1,576		3,554		26		200		—		—		6,476
Doubtful		—		—		—		—		—		—		—		—		—
Total	$	239,098	$	421,077	$	360,277	$	107,204	$	33,575	$	15,000	$	102,853	$	2,031	$	1,281,115
Gross Charge-offs	$	—	$	113	$	94	$	30	$	—	$	20	$	—	$	7	$	264
Residential Mortgage:
Performing	$	161,019	$	422,269	$	1,068,191	$	882,918	$	447,690	$	932,182	$	2,772	$	201	$	3,917,242
Nonperforming		327		7,724		10,974		6,687		1,199		17,175		—		—		44,086
Total	$	161,346	$	429,993	$	1,079,165	$	889,605	$	448,889	$	949,357	$	2,772	$	201	$	3,961,328
Gross Charge-offs	$	—	$	57	$	189	$	2	$	—	$	132	$	—	$	—	$	380
Consumer Loans:
Performing	$	56,983	$	39,301	$	35,320	$	20,397	$	15,035	$	41,299	$	1,120,027	$	30,296	$	1,358,658
Nonperforming		51		46		320		639		767		3,442		535		5,387		11,187
Total	$	57,034	$	39,347	$	35,640	$	21,036	$	15,802	$	44,741	$	1,120,562	$	35,683	$	1,369,845
Gross Charge-offs	$	92	$	1,733	$	2,474	$	1,173	$	180	$	985	$	8,826	$	2,524	$	17,987

Residential Mortgage Loans in Process of Foreclosure

Loans in process of foreclosure include those for which formal foreclosure proceedings are in process according to local requirements of the applicable jurisdiction. Included in loans at September 30, 2025 and December 31, 2024 were $13.0 million and $10.5 million, respectively, of loans secured by single family residential real estate that were in process of foreclosure. In addition to the single family residential real estate loans in process of foreclosure, the Company also held foreclosed single family residential properties in other real estate owned totaling $3.7 million and $2.0 million at September 30, 2025 and December 31, 2024, respectively.

Loans Held for Sale

Loans held for sale totaled $33.2 million and $21.5 million at September 30, 2025 and December 31, 2024, respectively. Loans held for sale is composed primarily of residential mortgage loans originated for sale in the secondary market. At September 30, 2025, residential mortgage loans carried at the fair value option totaled $33.2 million with an unpaid principal balance of $32.3 million. At December 31, 2024, residential mortgage loans carried at the fair value option totaled $18.9 million with an unpaid principal balance of $18.6 million. All other loans held for sale are carried at the lower of cost or market.