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Loans (Tables)

6 Months Ended

Jun. 30, 2022

The following is a summary of total loans:


	June 30,		December 31,
(Dollars in thousands)	2022		2021
Loans:
Construction and land development ⁽¹⁾	$	2,527,062	$	2,029,216
Commercial non-owner occupied		7,723,971		6,735,699
Commercial owner occupied real estate		5,421,725		4,970,116
Consumer owner occupied ⁽²⁾		4,292,039		3,638,364
Home equity loans		1,213,492		1,168,594
Commercial and industrial		4,807,528		3,761,133
Other income producing property		669,659		696,804
Consumer		1,248,496		904,657
Other loans		31,294		23,583
Total loans		27,935,266		23,928,166
Less allowance for credit losses		(319,708)		(301,807)
Loans, net	$	27,615,558	$	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	$	137,874
Allowance for credit losses at acquisition		(13,758)
Non-credit discount at acquisition		(5,943)
Carrying value or book value of acquired loans at acquisition	$	118,173

Schedule of credit risk profile by risk grade of loans

The following tables present the credit risk profile by risk grade of commercial loans by origination year as of June 30, 2022 and December 31, 2021:


		Term Loans
(Dollars in thousands)		Amortized Cost Basis by Origination Year
As of June 30, 2022	2022		2021		2020		2019		2018		Prior		Revolving		Total
Construction and land development
Risk rating:
Pass	$	455,606	$	700,792	$	238,509	$	143,330	$	22,095	$	48,384	$	101,509	$	1,710,225
Special mention		643		5,643		126		176		7,362		699		—		14,649
Substandard		285		661		159		2,364		144		2,879		—		6,492
Doubtful		—		—		—		—		—		6		—		6
Total Construction and land development	$	456,534	$	707,096	$	238,794	$	145,870	$	29,601	$	51,968	$	101,509	$	1,731,372

Commercial non-owner occupied
Risk rating:
Pass	$	1,191,752	$	1,887,200	$	812,894	$	1,067,123	$	643,633	$	1,765,798	$	101,504	$	7,469,904
Special mention		12,154		6,349		43,723		6,421		24,523		20,787		—		113,957
Substandard		8,217		24,925		629		41,193		9,844		52,688		2,534		140,030
Doubtful		—		1		—		79		—		—		—		80
Total Commercial non-owner occupied	$	1,212,123	$	1,918,475	$	857,246	$	1,114,816	$	678,000	$	1,839,273	$	104,038	$	7,723,971

Commercial Owner Occupied
Risk rating:
Pass	$	635,861	$	1,180,611	$	735,528	$	775,341	$	506,126	$	1,263,783	$	73,391	$	5,170,641
Special mention		5,790		29,725		19,053		15,563		13,951		55,911		2,382		142,375
Substandard		2,805		9,906		5,023		19,716		6,866		63,424		944		108,684
Doubtful		—		—		1		—		—		24		—		25
Total commercial owner occupied	$	644,456	$	1,220,242	$	759,605	$	810,620	$	526,943	$	1,383,142	$	76,717	$	5,421,725

Commercial and industrial
Risk rating:
Pass	$	734,287	$	1,044,775	$	606,588	$	336,329	$	257,173	$	420,222	$	1,303,698	$	4,703,072
Special mention		2,035		3,083		1,035		5,134		5,422		6,533		16,803		40,045
Substandard		7,486		200		6,147		12,463		6,836		8,636		22,634		64,402
Doubtful		—		—		—		5		3		—		1		9
Total commercial and industrial	$	743,808	$	1,048,058	$	613,770	$	353,931	$	269,434	$	435,391	$	1,343,136	$	4,807,528

Other income producing property
Risk rating:
Pass	$	76,193	$	100,543	$	65,926	$	51,702	$	56,622	$	145,332	$	48,451	$	544,769
Special mention		707		1,390		1,455		530		196		5,607		1,455		11,340
Substandard		606		552		429		575		233		14,011		72		16,478
Doubtful		—		—		—		—		—		6		130		136
Total other income producing property	$	77,506	$	102,485	$	67,810	$	52,807	$	57,051	$	164,956	$	50,108	$	572,723

Consumer owner occupied
Risk rating:
Pass	$	3,976	$	4,805	$	2,190	$	914	$	76	$	437	$	16,640	$	29,038
Special mention		477		21		171		289		—		—		267		1,225
Substandard		—		97		14		1,876		—		219		152		2,358
Doubtful		—		—		—		—		1		145		—		146
Total Consumer owner occupied	$	4,453	$	4,923	$	2,375	$	3,079	$	77	$	801	$	17,059	$	32,767

Other loans
Risk rating:
Pass	$	31,294	$	—	$	—	$	—	$	—	$	—	$	—	$	31,294
Special mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—
Total other loans	$	31,294	$	—	$	—	$	—	$	—	$	—	$	—	$	31,294

Total Commercial Loans
Risk rating:
Pass	$	3,128,969	$	4,918,726	$	2,461,635	$	2,374,739	$	1,485,725	$	3,643,956	$	1,645,193	$	19,658,943
Special mention		21,806		46,211		65,563		28,113		51,454		89,537		20,907		323,591
Substandard		19,399		36,341		12,401		78,187		23,923		141,857		26,336		338,444
Doubtful		—		1		1		84		4		181		131		402
Total Commercial Loans	$	3,170,174	$	5,001,279	$	2,539,600	$	2,481,123	$	1,561,106	$	3,875,531	$	1,692,567	$	20,321,380


		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 June 30, 2022:


	Term Loans
(Dollars in thousands)	Amortized Cost Basis by Origination Year
As of June 30, 2022	2022		2021		2020		2019		2018		Prior		Revolving		Total
Consumer owner occupied
Days past due:
Current	$	928,718	$	1,237,505	$	655,234	$	342,339	$	207,373	$	875,152	$	365	$	4,246,686
30 days past due		—		876		1,173		184		66		2,216		—		4,515
60 days past due		—		—		229		188		—		411		—		828
90 days past due		—		230		582		1,096		910		4,425		—		7,243
Total Consumer owner occupied	$	928,718	$	1,238,611	$	657,218	$	343,807	$	208,349	$	882,204	$	365	$	4,259,272

Home equity loans
Days past due:
Current	$	3,452	$	5,924	$	4,527	$	3,536	$	1,951	$	22,637	$	1,167,539	$	1,209,566
30 days past due		—		—		27		18		—		338		1,470		1,853
60 days past due		—		—		—		92		—		219		136		447
90 days past due		—		21		83		37		—		1,162		323		1,626
Total Home equity loans	$	3,452	$	5,945	$	4,637	$	3,683	$	1,951	$	24,356	$	1,169,468	$	1,213,492

Consumer
Days past due:
Current	$	245,265	$	247,908	$	136,772	$	102,622	$	55,177	$	163,704	$	267,475	$	1,218,923
30 days past due		64		167		37		167		175		1,620		17,728		19,958
60 days past due		10		127		74		29		3		557		7,107		7,907
90 days past due		—		153		51		56		47		1,151		250		1,708
Total consumer	$	245,339	$	248,355	$	136,934	$	102,874	$	55,402	$	167,032	$	292,560	$	1,248,496

Construction and land development
Days past due:
Current	$	165,251	$	487,476	$	100,471	$	16,745	$	8,033	$	17,324	$	162	$	795,462
30 days past due		—		—		24		18		—		29		—		71
60 days past due		—		—		—		—		—		—		—		—
90 days past due		—		—		157		—		—		—		—		157
Total Construction and land development	$	165,251	$	487,476	$	100,652	$	16,763	$	8,033	$	17,353	$	162	$	795,690

Other income producing property
Days past due:
Current	$	21,971	$	22,285	$	5,037	$	3,114	$	4,100	$	39,284	$	873	$	96,664
30 days past due		—		—		—		—		—		137		—		137
60 days past due		—		—		—		—		—		—		—		—
90 days past due		—		—		—		—		—		135		—		135
Total other income producing property	$	21,971	$	22,285	$	5,037	$	3,114	$	4,100	$	39,556	$	873	$	96,936

Total Consumer Loans
Days past due:
Current	$	1,364,657	$	2,001,098	$	902,041	$	468,356	$	276,634	$	1,118,101	$	1,436,414	$	7,567,301
30 days past due		64		1,043		1,261		387		241		4,340		19,198		26,534
60 days past due		10		127		303		309		3		1,187		7,243		9,182
90 days past due		—		404		873		1,189		957		6,873		573		10,869
Total Consumer Loans	$	1,364,731	$	2,002,672	$	904,478	$	470,241	$	277,835	$	1,130,501	$	1,463,428	$	7,613,886

The following table presents total loans by origination year as of June 30, 2022:

Term Loans

(Dollars in thousands)

Amortized Cost Basis by Origination Year

As of June 30, 2022

2022

2021

2020

2019

2018

Prior

Revolving

Total

Total Loans

4,534,905

7,003,951

3,444,078

2,951,364

1,838,941

5,006,032

3,155,995

27,935,266

The following table presents the credit risk profile by past due status of consumer loans by origination year as of December 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	$	298,779	$	169,443	$	127,757	$	69,892	$	36,304	$	151,948	$	44,864	$	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	$	299,227	$	170,010	$	128,236	$	70,316	$	36,555	$	155,295	$	45,018	$	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 total loans by origination year as of December 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
June 30,2022
Construction and land development	$	141	$	87	$	110	$	338	$	2,526,150	$	574	$	2,527,062
Commercial non-owner occupied		3,985		300		—		4,285		7,700,768		18,918		7,723,971
Commercial owner occupied		6,066		1,730		579		8,375		5,391,191		22,159		5,421,725
Consumer owner occupied		4,388		45		—		4,433		4,270,562		17,044		4,292,039
Home equity loans		1,566		447		—		2,013		1,204,548		6,931		1,213,492
Commercial and industrial		18,360		10,751		5,100		34,211		4,761,067		12,250		4,807,528
Other income producing property		565		203		—		768		665,994		2,897		669,659
Consumer		20,322		11,930		—		32,252		1,212,775		3,469		1,248,496
Other loans		—		—		—		—		31,294		—		31,294
	$	55,393	$	25,493	$	5,789	$	86,675	$	27,764,349	$	84,242	$	27,935,266
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


	June 30,		Greater than		Non-accrual		December 31,
(Dollars in thousands)	2022		90 Days Accruing⁽¹⁾		with no allowance⁽¹⁾		2021
Construction and land development	$	574	$	110	$	14	$	1,567
Commercial non-owner occupied		18,918		—		6,699		19,909
Commercial owner occupied real estate		22,159		579		6,395		14,532
Consumer owner occupied		17,044		—		—		18,183
Home equity loans		6,931		—		46		6,255
Commercial and industrial		12,250		5,100		108		7,441
Other income producing property		2,897		—		—		4,075
Consumer		3,469		—		—		3,456
Total loans on nonaccrual status	$	84,242	$	5,789	$	13,262	$	75,418

(1)

Greater than 90 days accruing and non-accrual with no allowance loans at June 30, 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:


	June 30,		Collateral			December 31,		Collateral
(Dollars in thousands)	2022		Coverage		%	2021		Coverage		%
Commercial owner occupied real estate
Church	$	—	$	—		$	1,953	$	2,308	118%
Other		4,492		4,643	103%		4,656		12,200	262%
Commercial non-owner occupied real estate
Hotel		—		—			1,822		4,100	225%
Other		6,699		9,810	146%		6,949		9,630	139%
Commercial and industrial
Other		7,164		4,488	63%		—		—
Home equity loans
Residential 1-4 family dwelling		1,685		1,108	66%		—		—
Total collateral dependent loans	$	20,040	$	20,049		$	15,380	$	28,238

Schedule of restructured loans segregated by class and type of concession

The following tables present loans designated as TDRs segregated by class and type of concession that were restructured during the six months ended June 30, 2022 and 2021. There were no loans restructured as TDRs during the three months ending June 30, 2022 and 2021.


	Six Months Ended June 30,
	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
Commercial non-owner occupied	1	$	182	$	182	—	$	—	$	—
Commercial owner occupied	2		262		262	—		—		—
Consumer owner occupied	1		97		97	—		—		—
Commercial and industrial	4		434		434	—		—		—
Other income producing property	2		115		115	1		298		298
Total interest rate modifications	10	$	1,090	$	1,090	1	$	298	$	298
Term modification
Construction and land development	1	$	137	$	137	—	$	—	$	—
Commercial owner occupied	2		2,327		2,327	—		—		—
Commercial and industrial	—		—		—	1		40		40
Total term modifications	3	$	2,464	$	2,464	1	$	40	$	40
	13	$	3,554	$	3,554	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 June 30, 2022 by type of concession. There were no subsequent defaults.


	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	12	$	1,354	—	$	—	—	$	—
Term modification	4		2,768	—		—	—		—
	16	$	4,122	—	$	—	—	$	—