Loans and Allowance for Credit Losses (Tables)

12 Months Ended

Dec. 31, 2021

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, 2021 and 2020:

(in thousands)	2021		2020
Commercial non-real estate	$	9,612,460	$	9,986,983
Commercial real estate - owner occupied		2,821,246		2,857,445
Total commercial and industrial		12,433,706		12,844,428
Commercial real estate - income producing		3,464,626		3,357,939
Construction and land development		1,228,670		1,065,057
Residential mortgages		2,423,890		2,665,212
Consumer		1,583,390		1,857,295
Total loans	$	21,134,282	$	21,789,931

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, 2021 and 2020, as well as the corresponding recorded investment in loans at December 31, 2021 and 2020. Effective January 1, 2020, the Company adopted the provisions of ASC 326 (CECL) using a modified retrospective basis. The difference between the December 31, 2019 incurred allowance and the CECL allowance is reflected as a cumulative effect of change in accounting principle in the table below. For further discussion of the day one impact of the CECL adoption, refer to Note 1 – Summary of Significant Accounting Policies and Recent Accounting Pronouncements.

	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, 2021
Allowance for credit losses
Allowance for loan losses:
Beginning balance	$	149,693		$	69,134		$	218,827		$	109,474		$	26,462		$	48,842		$	46,572		$	450,177
Charge-offs		(33,523	)		(3,179	)		(36,702	)		(425	)		(274	)		(713	)		(12,722	)		(50,836	)
Recoveries		8,985			642			9,627			105			2,172			1,459			6,282			19,645
Net provision for loan losses		(29,267	)		(13,164	)		(42,431	)		(1,096	)		(6,258	)		(18,965	)		(8,171	)		(76,921	)
Ending balance - allowance for loan losses	$	95,888		$	53,433		$	149,321		$	108,058		$	22,102		$	30,623		$	31,961		$	342,065
Reserve for unfunded lending commitments:
Beginning balance	$	4,529		$	381		$	4,910		$	1,099		$	22,694		$	19		$	1,185		$	29,907
Provision for losses on unfunded    commitments		(7	)		(58	)		(65	)		595			(787	)		3			(319	)		(573	)
Ending balance - reserve for unfunded    lending commitments	$	4,522		$	323		$	4,845		$	1,694		$	21,907		$	22		$	866		$	29,334
Total allowance for credit losses	$	100,410		$	53,756		$	154,166		$	109,752		$	44,009		$	30,645		$	32,827		$	371,399
Allowance for loan losses:
Individually evaluated	$	177		$	94		$	271		$	20		$	20		$	408		$	184		$	903
Collectively evaluated		95,711			53,339			149,050			108,038			22,082			30,215			31,777			341,162
Allowance for loan losses	$	95,888		$	53,433		$	149,321		$	108,058		$	22,102		$	30,623		$	31,961		$	342,065
Reserve for unfunded lending commitments:
Individually evaluated	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Collectively evaluated		4,522			323			4,845			1,694			21,907			22			866			29,334
Reserve for unfunded lending commitments:	$	4,522		$	323		$	4,845		$	1,694		$	21,907		$	22		$	866		$	29,334
Total allowance for credit losses	$	100,410		$	53,756		$	154,166		$	109,752		$	44,009		$	30,645		$	32,827		$	371,399
Loans:
Individually evaluated for impairment	$	3,431		$	2,546		$	5,977		$	5,288		$	125		$	5,260		$	1,232		$	17,882
Collectively evaluated for impairment		9,609,029			2,818,700			12,427,729			3,459,338			1,228,545			2,418,630			1,582,158			21,116,400
Total loans	$	9,612,460		$	2,821,246		$	12,433,706		$	3,464,626		$	1,228,670		$	2,423,890		$	1,583,390		$	21,134,282

	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, 2020
Allowance for credit losses
Allowance for loan losses:
Beginning balance	$	106,432	$	10,977	$	117,409	$	20,869	$	9,350	$	20,331	$	23,292	$	191,251
Cumulative effect of change in accounting    principle		(244)		14,877		14,633		7,287		7,478		12,921		7,092		49,411
Charge-offs		(387,172)		(1,828)		(389,000)		(2,512)		(400)		(326)		(17,219)		(409,457)
Recoveries		6,032		763		6,795		46		846		1,400		5,584		14,671
Net provision for loan losses		424,645		44,345		468,990		83,784		9,188		14,516		27,823		604,301
Ending balance - allowance for loan losses	$	149,693	$	69,134	$	218,827	$	109,474	$	26,462	$	48,842	$	46,572	$	450,177
Reserve for unfunded lending commitments:
Beginning balance	$	3,974	$	—	$	3,974	$	—	$	—	$	—	$	—	$	3,974
Cumulative effect of change in accounting    principle		5,772		288		6,060		449		15,658		17		5,146		27,330
Provision for losses on unfunded    commitments		(5,217)		93		(5,124)		650		7,036		2		(3,961)		(1,397)
Ending balance - reserve for unfunded lending    commitments	$	4,529	$	381	$	4,910	$	1,099	$	22,694	$	19	$	1,185	$	29,907
Total allowance for credit losses	$	154,222	$	69,515	$	223,737	$	110,573	$	49,156	$	48,861	$	47,757	$	480,084
Allowance for loan losses:
Individually evaluated	$	11,517	$	1,236	$	12,753	$	44	$	22	$	546	$	515	$	13,880
Collectively evaluated		138,176		67,898		206,074		109,430		26,440		48,296		46,057		436,297
Allowance for loan losses	$	149,693	$	69,134	$	218,827	$	109,474	$	26,462	$	48,842	$	46,572	$	450,177
Reserve for unfunded lending commitments:
Individually evaluated	$	241	$	—	$	241	$	—	$	—	$	—	$	—	$	241
Collectively evaluated		4,288		381		4,669		1,099		22,694		19		1,185		29,666
Reserve for unfunded lending commitments:	$	4,529	$	381	$	4,910	$	1,099	$	22,694	$	19	$	1,185	$	29,907
Total allowance for credit losses	$	154,222	$	69,515	$	223,737	$	110,573	$	49,156	$	48,861	$	47,757	$	480,084
Loans:
Individually evaluated for impairment	$	43,775	$	10,206	$	53,981	$	4,542	$	1,250	$	5,850	$	2,521	$	68,144
Collectively evaluated for impairment		9,943,208		2,847,239		12,790,447		3,353,397		1,063,807		2,659,362		1,854,774		21,721,787
Total loans	$	9,986,983	$	2,857,445	$	12,844,428	$	3,357,939	$	1,065,057	$	2,665,212	$	1,857,295	$	21,789,931

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,
	2021					2020
(in thousands)	Total nonaccrual		Nonaccrual without allowance for loan loss		Total nonaccrual			Nonaccrual without allowance for loan loss
Commercial non-real estate	$	6,974	$	1,264	$		52,836	$	15,268
Commercial real estate - owner occupied		4,921		729			13,856		7,038
Total commercial and industrial		11,895		1,993			66,692		22,306
Commercial real estate - income producing		5,458		5,207			6,743		—
Construction and land development		844		—			2,486		1,116
Residential mortgages		25,439		1,997			40,573		1,705
Consumer		11,887		48			23,385		—
Total loans	$	55,523	$	9,245	$		139,879	$	25,127

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, 2021, 2020 and 2019. All such loans are individually evaluated for credit loss.

	Years Ended
($ in thousands)	2021						2020						2018
			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		13	$	64,051	$	57,240
Commercial real estate -    owner occupied		—		—		—		1		297		297		1		167		167
Total commercial    and industrial		4		7,232		7,232		4		1,042		1,042		14		64,218		57,407
Commercial real estate -    income producing		—		—		—		—		—		—		1		123		123
Construction and land    development		—		—		—		1		15		15		3		323		323
Residential mortgages		6		1,489		1,512		15		3,424		3,424		21		3,286		3,286
Consumer		4		86		86		6		89		89		10		168		168
Total loans		14	$	8,807	$	8,830		26	$	4,570	$	4,570		49	$	68,118	$	61,307

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, 2021 and 2020.         

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

December 31, 2020	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	$	7,963	$	2,564	$	39,530	$	50,057	$	9,936,926	$	9,986,983	$	583
Commercial real estate - owner occupied		1,525		753		13,663		15,941		2,841,504		2,857,445		955
Total commercial and industrial		9,488		3,317		53,193		65,998		12,778,430		12,844,428		1,538
Commercial real estate - income producing		1,494		798		5,744		8,036		3,349,903		3,357,939		182
Construction and land development		4,168		284		2,001		6,453		1,058,604		1,065,057		—
Residential mortgages		29,319		9,858		27,886		67,063		2,598,149		2,665,212		912
Consumer		12,215		5,012		11,714		28,941		1,828,354		1,857,295		729
Total loans	$	56,684	$	19,269	$	100,538	$	176,491	$	21,613,440	$	21,789,931	$	3,361

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, 2021 and 2020. The Company defines vintage as the later of origination, renewal or restructure date.

	Term Loans
	Amortized Cost Basis by Origination Year
		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

	Term Loans
	Amortized Cost Basis by Origination Year
		2020	2019	2018	2017	2016	Prior	Revolving Loans	Revolving Loans Converted to Term Loans	Total
Commercial Loans:
Pass		$5,673,370	$2,819,696	$1,740,784	$1,391,140	$960,094	$1,231,913	$2,420,058	$95,847	$16,332,902
Pass-Watch		115,555	96,473	50,475	42,877	58,331	84,363	74,629	19,182	541,885
Special    Mention		3,196	27,157	21,074	30,872	28,933	4,146	18,626	3,588	137,592
Substandard		75,461	33,844	20,527	35,383	15,071	36,589	30,162	8,008	255,045
Doubtful		—	—	—	—	—	—	—	—	—
Total Commercial    Loans		$5,867,582	$2,977,170	$1,832,860	$1,500,272	$1,062,429	$1,357,011	$2,543,475	$126,625	$17,267,424
Residential    Mortgage and    Consumer Loans:
Performing		$438,831	$504,124	$437,518	$560,347	$501,018	$816,567	$1,190,775	$6,127	4,455,307
Nonperforming		1,466	3,781	5,881	8,380	3,981	35,500	3,652	4,559	67,200
Total Consumer    Loans		$440,297	$507,905	$443,399	$568,727	$504,999	$852,067	$1,194,427	$10,686	$4,522,507

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, 2021 and December 31, 2020.

	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

	December 31, 2020
(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	$	9,439,264	$	2,641,423	$	12,080,687	$	3,219,155	$	1,033,060	$	16,332,902
Pass-Watch		314,739		114,358		429,097		89,968		22,820		541,885
Special Mention		79,613		46,239		125,852		5,989		5,751		137,592
Substandard		153,367		55,425		208,792		42,827		3,426		255,045
Doubtful		—		—		—		—		—		—
Total	$	9,986,983	$	2,857,445	$	12,844,428	$	3,357,939	$	1,065,057	$	17,267,424

Residential Mortgage and Consumer [Member]

Accounts Notes And Loans Receivable [Line Items]

Credit Quality Indicators by Segment and Portfolio Class

	December 31, 2021						December 31, 2020
(in thousands)	Residential Mortgage		Consumer		Total		Residential Mortgage		Consumer		Total
Performing	$	2,396,282	$	1,570,516	$	3,966,798	$	2,622,422	$	1,832,885	$	4,455,307
Nonperforming		27,608		12,874		40,482		42,790		24,410		67,200
Total	$	2,423,890	$	1,583,390	$	4,007,280	$	2,665,212	$	1,857,295	$	4,522,507