Commitments and Contingencies

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

In the normal course of business, there are various outstanding commitments to extend credit that are not reflected in the financial statements. The same credit policies are used to make such commitments as are used for loans, including obtaining collateral at exercise of the commitment. Commitments may expire without being used. The following table presents the Company’s outstanding loan commitments, including credit cards, at December 31, 2023 and December 31, 2022.


	December 31, 2023				December 31, 2022
($ in thousands)	Fixed Rate		Variable Rate	Total	Fixed Rate	Variable Rate	Total
Loan commitments	$	442,916	179,934	622,850	681,486	211,071	892,557
Unused lines of credit	407,521		1,417,250	1,824,771	273,244	1,194,575	1,467,819
Total	$	850,437	1,597,184	2,447,621	954,730	1,405,646	2,360,376

In addition to loan commitments, at December 31, 2023 and 2022, the Company had $20.6 million and $20.2 million, respectively, in standby letters of credit outstanding. The Company has no carrying amount for these standby letters of credit at either of those dates. The nature of the standby letters of credit is a stand-alone

obligation made on behalf of the Company’s customers to suppliers of the customers to guarantee payments owed to the supplier by the customer. The standby letters of credit are generally for terms for one year, at which time they may be renewed for another year if both parties agree.

The Company maintains an allowance for unfunded loan commitments which is included in "Other liabilities" in the consolidated balance sheets. The allowance for unfunded loan commitments is determined as part of the quarterly ACL analysis.

The Company also periodically invests in limited partnerships and LLCs primarily for the purposes of fulfilling CRA requirements and obtaining tax credits. As of December 31, 2023, the Company had a remaining funding commitments of $26.3 million related to these investments.

The Company, in the normal course of business, may be subject to various pending and threatened lawsuits in which claims for monetary damages are asserted. The Company is not involved in any legal proceedings which, in management’s opinion, could have a material effect on the consolidated financial position of the Company.