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Loans (Tables)

3 Months Ended

Mar. 31, 2022

The following is a summary of total loans:


	March 31,		December 31,
(Dollars in thousands)	2022		2021
Loans:
Construction and land development ⁽¹⁾	$	2,316,313	$	2,029,216
Commercial non-owner occupied		7,478,115		6,735,699
Commercial owner occupied real estate		5,346,583		4,970,116
Consumer owner occupied ⁽²⁾		3,813,163		3,638,364
Home equity loans		1,175,573		1,168,594
Commercial and industrial		4,566,641		3,761,133
Other income producing property		680,342		696,804
Consumer		1,167,720		904,657
Other loans		11,977		23,583
Total loans		26,556,427		23,928,166
Less allowance for credit losses		(300,396)		(301,807)
Loans, net	$	26,256,031	$	23,626,359

(1)

Construction and land development includes loans for both commercial construction and development, as well as loans for 1-4 family construction and lot loans.

(2)

Consumer owner occupied real estate includes loans on both 1-4 family owner occupied property, as well as loans collateralized by 1-4 family owner occupied property with a business intent.

Schedule of purchased loans through its acquisition of CSB


(Dollars in thousands)	March 1, 2022
Book value of acquired loans at acquisition	$	112,737
Allowance for credit losses at acquisition		(9,218)
Non-credit discount at acquisition		(4,509)
Carrying value or book value of acquired loans at acquisition	$	99,010

Schedule of credit risk profile by risk grade of loans

The following table presents the credit risk profile by risk grade of commercial loans by origination year as of March 31, 2022 and 2021:


		Term Loans
(Dollars in thousands)		Amortized Cost Basis by Origination Year
As of March 31, 2022	2022		2021		2020		2019		2018		Prior		Revolving		Total
Construction and land development
Risk rating:
Pass	$	145,489	$	684,487	$	324,454	$	231,128	$	26,470	$	56,994	$	100,945	$	1,569,967
Special mention		283		2,320		133		181		17		2,731		—		5,665
Substandard		223		732		166		3,153		147		2,524		—		6,945
Doubtful		—		—		—		—		—		7		—		7
Total Construction and land development	$	145,995	$	687,539	$	324,753	$	234,462	$	26,634	$	62,256	$	100,945	$	1,582,584

Commercial non-owner occupied
Risk rating:
Pass	$	456,600	$	1,908,997	$	853,208	$	1,081,774	$	730,349	$	1,912,737	$	112,369	$	7,056,034
Special mention		11,291		15,647		12,714		19,857		36,557		122,637		401		219,104
Substandard		525		25,258		151		63,578		30,546		80,700		2,137		202,895
Doubtful		—		1		—		81		—		—		—		82
Total Commercial non-owner occupied	$	468,416	$	1,949,903	$	866,073	$	1,165,290	$	797,452	$	2,116,074	$	114,907	$	7,478,115

Commercial Owner Occupied
Risk rating:
Pass	$	274,999	$	1,232,157	$	785,579	$	827,228	$	533,651	$	1,407,248	$	74,914	$	5,135,776
Special mention		30		9,014		6,055		16,248		14,731		77,511		62		123,651
Substandard		2,040		6,040		2,464		10,658		5,327		59,816		786		87,131
Doubtful		—		—		1		—		—		24		—		25
Total commercial owner occupied	$	277,069	$	1,247,211	$	794,099	$	854,134	$	553,709	$	1,544,599	$	75,762	$	5,346,583

Commercial and industrial
Risk rating:
Pass	$	210,266	$	1,299,047	$	652,273	$	384,480	$	287,788	$	459,668	$	1,181,161	$	4,474,683
Special mention		268		3,068		741		5,192		2,061		8,374		10,254		29,958
Substandard		488		451		6,446		12,189		15,122		7,713		19,558		61,967
Doubtful		—		—		—		5		3		24		1		33
Total commercial and industrial	$	211,022	$	1,302,566	$	659,460	$	401,866	$	304,974	$	475,779	$	1,210,974	$	4,566,641

Other income producing property
Risk rating:
Pass	$	32,022	$	104,526	$	69,075	$	56,526	$	64,745	$	171,033	$	59,947	$	557,874
Special mention		258		1,460		1,579		1,073		200		9,940		89		14,599
Substandard		447		1,219		465		442		2,195		13,767		240		18,775
Doubtful		—		—		—		—		—		5		—		5
Total other income producing property	$	32,727	$	107,205	$	71,119	$	58,041	$	67,140	$	194,745	$	60,276	$	591,253

Consumer owner occupied
Risk rating:
Pass	$	392	$	3,456	$	2,637	$	1,051	$	81	$	582	$	17,371	$	25,570
Special mention		505		1,208		175		1,946		—		1		6		3,841
Substandard		—		99		15		236		—		221		—		571
Doubtful		—		—		—		—		—		145		—		145
Total Consumer owner occupied	$	897	$	4,763	$	2,827	$	3,233	$	81	$	949	$	17,377	$	30,127

Other loans
Risk rating:
Pass	$	11,977	$	—	$	—	$	—	$	—	$	—	$	—	$	11,977
Special mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—
Total other loans	$	11,977	$	—	$	—	$	—	$	—	$	—	$	—	$	11,977

Total Commercial Loans
Risk rating:
Pass	$	1,131,745	$	5,232,670	$	2,687,226	$	2,582,187	$	1,643,084	$	4,008,262	$	1,546,707	$	18,831,881
Special mention		12,635		32,717		21,397		44,497		53,566		221,194		10,812		396,818
Substandard		3,723		33,799		9,707		90,256		53,337		164,741		22,721		378,284
Doubtful		—		1		1		86		3		205		1		297
Total Commercial Loans	$	1,148,103	$	5,299,187	$	2,718,331	$	2,717,026	$	1,749,990	$	4,394,402	$	1,580,241	$	19,607,280


		Term Loans
(Dollars in thousands)		Amortized Cost Basis by Origination Year
As of December 31, 2021	2021		2020		2019		2018		2017		Prior		Revolving		Total
Construction and land development
Risk rating:
Pass	$	570,166	$	360,488	$	206,586	$	38,866	$	24,728	$	49,321	$	76,680	$	1,326,835
Special mention		2,347		3,067		186		—		1,557		1,715		487		9,359
Substandard		960		210		2,304		326		543		2,209		—		6,552
Doubtful		1		—		—		—		—		8		—		9
Total Construction and land development	$	573,474	$	363,765	$	209,076	$	39,192	$	26,828	$	53,253	$	77,167	$	1,342,755

Commercial non-owner occupied
Risk rating:
Pass	$	1,812,512	$	798,171	$	1,061,021	$	676,803	$	494,618	$	1,371,729	$	102,763	$	6,317,617
Special mention		16,683		12,985		14,138		36,875		25,729		110,109		—		216,519
Substandard		23,035		160		64,408		23,346		31,952		56,477		2,139		201,517
Doubtful		—		—		—		—		—		46		—		46
Total Commercial non-owner occupied	$	1,852,230	$	811,316	$	1,139,567	$	737,024	$	552,299	$	1,538,361	$	104,902	$	6,735,699

Commercial Owner Occupied
Risk rating:
Pass	$	1,182,722	$	780,339	$	801,162	$	549,642	$	428,163	$	980,701	$	69,739	$	4,792,468
Special mention		9,152		4,257		7,331		10,860		22,792		49,083		115		103,590
Substandard		7,375		2,907		8,587		2,053		18,600		34,431		80		74,033
Doubtful		—		1		—		—		—		24		—		25
Total commercial owner occupied	$	1,199,249	$	787,504	$	817,080	$	562,555	$	469,555	$	1,064,239	$	69,934	$	4,970,116

Commercial and industrial
Risk rating:
Pass	$	1,198,849	$	618,676	$	360,551	$	267,772	$	178,538	$	219,339	$	860,134	$	3,703,859
Special mention		2,759		1,519		2,434		1,268		3,224		3,871		3,281		18,356
Substandard		738		5,965		8,212		2,653		3,438		5,183		12,701		38,890
Doubtful		—		—		5		3		2		16		2		28
Total commercial and industrial	$	1,202,346	$	626,160	$	371,202	$	271,696	$	185,202	$	228,409	$	876,118	$	3,761,133

Other income producing property
Risk rating:
Pass	$	105,533	$	73,583	$	67,173	$	76,971	$	56,343	$	142,183	$	56,190	$	577,976
Special mention		1,580		1,851		1,063		232		1,381		13,526		424		20,057
Substandard		1,304		482		298		166		787		12,531		46		15,614
Doubtful		—		—		—		—		—		6		—		6
Total other income producing property	$	108,417	$	75,916	$	68,534	$	77,369	$	58,511	$	168,246	$	56,660	$	613,653

Consumer owner occupied
Risk rating:
Pass	$	3,513	$	2,874	$	1,099	$	85	$	139	$	820	$	16,977	$	25,507
Special mention		1,219		180		2,430		81		—		3		—		3,913
Substandard		—		16		238		—		—		223		—		477
Doubtful		—		—		—		1		—		145		—		146
Total Consumer owner occupied	$	4,732	$	3,070	$	3,767	$	167	$	139	$	1,191	$	16,977	$	30,043

Other loans
Risk rating:
Pass	$	23,583	$	—	$	—	$	—	$	—	$	—	$	—	$	23,583
Special mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—
Total other loans	$	23,583	$	—	$	—	$	—	$	—	$	—	$	—	$	23,583

Total Commercial Loans
Risk rating:
Pass	$	4,896,878	$	2,634,131	$	2,497,592	$	1,610,139	$	1,182,529	$	2,764,093	$	1,182,483	$	16,767,845
Special mention		33,740		23,859		27,582		49,316		54,683		178,307		4,307		371,794
Substandard		33,412		9,740		84,047		28,544		55,320		111,054		14,966		337,083
Doubtful		1		1		5		4		2		245		2		260
Total Commercial Loans	$	4,964,031	$	2,667,731	$	2,609,226	$	1,688,003	$	1,292,534	$	3,053,699	$	1,201,758	$	17,476,982

For the consumer segment, delinquency of a loan is determined by past due status. Consumer loans are automatically placed on nonaccrual status once the loan is 90 days past due. Construction and land development loans are on 1-4 properties and lots.

The following table presents the credit risk profile by past due status of consumer loans by origination year as of March 31, 2022:


	Term Loans
(Dollars in thousands)	Amortized Cost Basis by Origination Year
As of March 31, 2022	2022		2021		2020		2019		2018		Prior		Revolving		Total
Consumer owner occupied
Days past due:
Current	$	357,337	$	1,197,029	$	660,950	$	376,955	$	229,942	$	948,311	$	66	$	3,770,590
30 days past due		—		241		750		564		206		1,531		—		3,292
60 days past due		—		—		—		—		129		786		—		915
90 days past due		—		234		642		975		808		5,580		—		8,239
Total Consumer owner occupied	$	357,337	$	1,197,504	$	662,342	$	378,494	$	231,085	$	956,208	$	66	$	3,783,036

Home equity loans
Days past due:
Current	$	1,388	$	6,287	$	4,538	$	3,889	$	2,283	$	25,090	$	1,127,814	$	1,171,289
30 days past due		—		5		72		—		—		280		1,515		1,872
60 days past due		—		117		—		112		—		118		80		427
90 days past due		—		75		40		25		—		1,663		182		1,985
Total Home equity loans	$	1,388	$	6,484	$	4,650	$	4,026	$	2,283	$	27,151	$	1,129,591	$	1,175,573

Consumer
Days past due:
Current	$	203,365	$	383,890	$	162,172	$	114,271	$	62,668	$	177,289	$	40,100	$	1,143,755
30 days past due		—		12,622		830		46		115		1,171		549		15,333
60 days past due		—		5,953		465		13		12		379		177		6,999
90 days past due		—		69		84		114		115		1,218		33		1,633
Total consumer	$	203,365	$	402,534	$	163,551	$	114,444	$	62,910	$	180,057	$	40,859	$	1,167,720

Construction and land development
Days past due:
Current	$	58,048	$	479,616	$	141,951	$	24,361	$	9,745	$	19,470	$	162	$	733,353
30 days past due		—		2		—		—		—		1		—		3
60 days past due		—		—		371		—		—		—		—		371
90 days past due		—		—		—		—		—		2		—		2
Total Construction and land development	$	58,048	$	479,618	$	142,322	$	24,361	$	9,745	$	19,473	$	162	$	733,729

Other income producing property
Days past due:
Current	$	9,101	$	22,809	$	5,360	$	4,073	$	4,755	$	41,108	$	1,422	$	88,628
30 days past due		—		—		—		—		—		335		—		335
60 days past due		—		—		—		—		—		—		—		—
90 days past due		—		—		—		—		—		126		—		126
Total other income producing property	$	9,101	$	22,809	$	5,360	$	4,073	$	4,755	$	41,569	$	1,422	$	89,089

Total Consumer Loans
Days past due:
Current	$	629,239	$	2,089,631	$	974,971	$	523,549	$	309,393	$	1,211,268	$	1,169,564	$	6,907,615
30 days past due		—		12,870		1,652		610		321		3,318		2,064		20,835
60 days past due		—		6,070		836		125		141		1,283		257		8,712
90 days past due		—		378		766		1,114		923		8,589		215		11,985
Total Consumer Loans	$	629,239	$	2,108,949	$	978,225	$	525,398	$	310,778	$	1,224,458	$	1,172,100	$	6,949,147

The following table presents the credit risk profile by past due status of total loans by origination year as of March 31, 2022:

Term Loans

(Dollars in thousands)

Amortized Cost Basis by Origination Year

As of March 31, 2022

2022

2021

2020

2019

2018

Prior

Revolving

Total

Total Loans

1,777,342

7,408,136

3,696,556

3,242,424

2,060,768

5,618,860

2,752,341

26,556,427

The following table presents the credit risk profile by past due status of consumer loans by origination year as of March 31, 2021:


	Term Loans
(Dollars in thousands)	Amortized Cost Basis by Origination Year
As of December 31, 2021	2021		2020		2019		2018		2017		Prior		Revolving		Total
Consumer owner occupied
Days past due:
Current	$	1,192,449	$	710,828	$	405,138	$	246,487	$	228,876	$	810,605	$	4	$	3,594,387
30 days past due		354		666		234		472		1,068		2,230		—		5,024
60 days past due		—		330		218		254		111		928		—		1,841
90 days past due		235		574		691		549		274		4,746		—		7,069
Total Consumer owner occupied	$	1,193,038	$	712,398	$	406,281	$	247,762	$	230,329	$	818,509	$	4	$	3,608,321

Home equity loans
Days past due:
Current	$	7,128	$	5,648	$	4,745	$	2,180	$	993	$	24,716	$	1,116,621	$	1,162,031
30 days past due		6		49		68		71		24		491		2,200		2,909
60 days past due		—		—		—		—		—		603		339		942
90 days past due		75		65		172		180		22		1,548		650		2,712
Total Home equity loans	$	7,209	$	5,762	$	4,985	$	2,431	$	1,039	$	27,358	$	1,119,810	$	1,168,594

Consumer
Days past due:
Current	$	314,475	$	169,443	$	127,757	$	69,892	$	36,304	$	151,948	$	29,168	$	898,987
30 days past due		229		364		208		191		132		1,570		137		2,831
60 days past due		145		82		90		124		90		658		17		1,206
90 days past due		74		121		181		109		29		1,119		—		1,633
Total consumer	$	314,923	$	170,010	$	128,236	$	70,316	$	36,555	$	155,295	$	29,322	$	904,657

Construction and land development
Days past due:
Current	$	411,728	$	204,368	$	33,965	$	13,429	$	8,484	$	14,185	$	162	$	686,321
30 days past due		—		24		—		—		—		—		—		24
60 days past due		—		—		—		—		—		12		—		12
90 days past due		—		—		—		—		—		104		—		104
Total Construction and land development	$	411,728	$	204,392	$	33,965	$	13,429	$	8,484	$	14,301	$	162	$	686,461

Other income producing property
Days past due:
Current	$	22,131	$	5,620	$	4,906	$	4,977	$	6,303	$	37,575	$	1,379	$	82,891
30 days past due		—		—		—		—		—		90		—		90
60 days past due		—		—		—		—		—		156		—		156
90 days past due		—		—		—		—		—		14		—		14
Total other income producing property	$	22,131	$	5,620	$	4,906	$	4,977	$	6,303	$	37,835	$	1,379	$	83,151

Total Consumer Loans
Days past due:
Current	$	1,947,911	$	1,095,907	$	576,511	$	336,965	$	280,960	$	1,039,029	$	1,147,334	$	6,424,617
30 days past due		589		1,103		510		734		1,224		4,381		2,337		10,878
60 days past due		145		412		308		378		201		2,357		356		4,157
90 days past due		384		760		1,044		838		325		7,531		650		11,532
Total Consumer Loans	$	1,949,029	$	1,098,182	$	578,373	$	338,915	$	282,710	$	1,053,298	$	1,150,677	$	6,451,184

The following table presents the credit risk profile by past due status of total loans by origination year as of March 31, 2021:


	Term Loans
(Dollars in thousands)	Amortized Cost Basis by Origination Year
As of December 31, 2021	2021		2020		2019		2018		2017		Prior		Revolving		Total
Total Loans	$	6,913,060	$	3,765,913	$	3,187,599	$	2,026,918	$	1,575,244	$	4,106,997	$	2,352,435	$	23,928,166

Aging analysis of past due loans (includes nonaccrual loans), segregated by class of loans

The following table presents an aging analysis of past due accruing loans, segregated by class.


	30 - 59 Days		60 - 89 Days		90+ Days		Total				Non-		Total
(Dollars in thousands)	Past Due		Past Due		Past Due		Past Due		Current		Accruing		Loans
March 31, 2022
Construction and land development	$	765	$	1,721	$	25	$	2,511	$	2,312,463	$	1,339	$	2,316,313
Commercial non-owner occupied		5,488		1,251		9,793		16,532		7,442,210		19,373		7,478,115
Commercial owner occupied		4,357		4,515		2,547		11,419		5,319,799		15,365		5,346,583
Consumer owner occupied		3,060		312		—		3,372		3,791,711		18,080		3,813,163
Home equity loans		1,339		217		—		1,556		1,167,547		6,470		1,175,573
Commercial and industrial		20,528		12,035		22,984		55,547		4,501,169		9,925		4,566,641
Other income producing property		1,543		2,400		236		4,179		671,254		4,909		680,342
Consumer		15,074		6,866		1		21,941		1,142,391		3,388		1,167,720
Other loans		—		—		—		—		11,977		—		11,977
	$	52,154	$	29,317	$	35,586	$	117,057	$	26,360,521	$	78,849	$	26,556,427
December 31, 2021
Construction and land development	$	1,176	$	59	$	43	$	1,278	$	2,026,371	$	1,567	$	2,029,216
Commercial non-owner occupied		3,591		2,110		96		5,797		6,709,993		19,909		6,735,699
Commercial owner occupied		2,756		1,732		626		5,114		4,950,470		14,532		4,970,116
Consumer owner occupied		4,046		533		—		4,579		3,615,602		18,183		3,638,364
Home equity loans		2,565		913		—		3,478		1,158,861		6,255		1,168,594
Commercial and industrial		50,451		26,639		3,991		81,081		3,672,611		7,441		3,761,133
Other income producing property		879		424		106		1,409		691,320		4,075		696,804
Consumer		2,672		840		1		3,513		897,688		3,456		904,657
Other loans		—		—		—		—		23,583		—		23,583
	$	68,136	$	33,250	$	4,863	$	106,249	$	23,746,499	$	75,418	$	23,928,166

Summary of information pertaining to nonaccrual loans by class


	March 31,		Greater than		Non-accrual		December 31,
(Dollars in thousands)	2022		90 Days Accruing⁽¹⁾		with no allowance⁽¹⁾		2021
Construction and land development	$	1,339	$	25	$	15	$	1,567
Commercial non-owner occupied		19,373		9,793		9,432		19,909
Commercial owner occupied real estate		15,365		2,547		6,474		14,532
Consumer owner occupied		18,080		—		—		18,183
Home equity loans		6,470		—		48		6,255
Commercial and industrial		9,925		22,984		423		7,441
Other income producing property		4,909		236		892		4,075
Consumer		3,388		1		—		3,456
Total loans on nonaccrual status	$	78,849	$	35,586	$	17,284	$	75,418

(1)

– Greater than 90 days accruing and non-accrual with no allowance loans at March 31, 2022.

Summary of collateral dependent loans, by type of collateral

The following is a summary of collateral dependent loans, by type of collateral, and the extent to which they are collateralized during the period:


	March 31,		Collateral			December 31,		Collateral
(Dollars in thousands)	2022		Coverage		%	2021		Coverage		%
Commercial owner occupied real estate
Church	$	—	$	—		$	1,953	$	2,308	118%
Other		4,556		4,643	102%		4,656		12,200	262%
Commercial non-owner occupied real estate
Hotel		—		—			1,822		4,100	225%
Other		6,823		9,810	144%		6,949		9,630	139%
Total collateral dependent loans	$	11,379	$	14,453		$	15,380	$	28,238

Schedule of restructured loans segregated by class and type of concession

The following table presents loans designated as TDRs segregated by class and type of concession that were restructured during the quarter ended March 31, 2022 and 2021.


	Three Months Ended March 31,
	2022					2021
		Pre-Modification		Post-Modification			Pre-Modification		Post-Modification
	Number	Amortized		Amortized		Number	Amortized		Amortized
(Dollars in thousands)	of loans	Cost		Cost		of loans	Cost		Cost
Interest rate modification
Construction and land development	1	$	120	$	120	—	$	—	$	—
Commercial non-owner occupied	1		187		187	—		—		—
Commercial owner occupied	2		268		268	—		—		—
Consumer owner occupied	1		99		99	—		—		—
Commercial and industrial	4		497		497	—		—		—
Other income producing property	2		119		119	1		298		298
Total interest rate modifications	11	$	1,290	$	1,290	1	$	298	$	298
Term modification
Construction and land development	1		141		141	—	$	—	$	—
Commercial non-owner occupied	—	$	—	$	—	—		—		—
Commercial owner occupied	2		2,356		2,356	—		—		—
Consumer owner occupied	—		—		—	—		—		—
Home equity loans	—		—		—	—		—		—
Commercial and industrial	—		—		—	1		40		40
Other income producing property	—		—		—	—		—		—
Consumer	—		—		—	—		—		—
Other loans	—		—		—	—		—		—
Total term modifications	3	$	2,497	$	2,497	1	$	40	$	40
	14	$	3,787	$	3,787	2	$	338	$	338

Schedule of changes in status of loans restructured within the previous 12 months

The following table presents the changes in status of loans restructured within the previous 12 months as of March 31, 2022 by type of concession. There were no subsequent defaults that resulted in a change to reserves on the individually evaluated loan .


	Paying Under
	Restructured Terms			Converted to Nonaccrual			Foreclosures and Defaults
	Number	Amortized		Number	Amortized		Number	Amortized
(Dollars in thousands)	of Loans	Cost		of Loans	Cost		of Loans	Cost
Interest rate modification	14	$	1,783	—	$	—	—	$	—
Term modification	4		2,806	—		—	—		—
	18	$	4,589	—	$	—	—	$	—