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Loans Held for Investment (Tables)
 3 Months Ended
Mar. 31, 2021
Receivables [Abstract]  
Schedule of Loans by Class
The following table presents loans by segment as of the dates indicated:
March 31,
2021		December 31,
2020
Real estate loans:  
Commercial$3,718.7 $3,743.2 
Construction loans:
Land acquisition & development263.2 265.0 
Residential242.1 250.9 
Commercial581.0 523.5 
Total construction loans1,086.3 1,039.4 
Residential1,488.8 1,396.3 
Agricultural218.8 220.6 
Total real estate loans6,512.6 6,399.5 
Consumer loans:
Indirect782.9 805.1 
Direct and advance lines139.7 150.6 
Credit card64.6 70.2 
Total consumer loans987.2 1,025.9 
Commercial2,181.1 2,153.9 
Agricultural214.7 247.6 
Other, including overdrafts1.5 1.6 
Loans held for investment9,897.1 9,828.5 
Deferred loan fees and costs(33.9)(21.0)
Loans held for investment, net of deferred fees and costs9,863.2 9,807.5 
Allowance for credit losses(136.6)(144.3)
Net loans held for investment$9,726.6 $9,663.2 
Schedule of Allowance for Loan Losses by Portfolio Segment
The following tables represent, by loan portfolio segment, the activity in the allowance for credit losses for loans held for investment:
Three Months Ended March 31, 2021Beginning BalanceProvision for (reversal of) Credit LossLoans Charged-OffRecoveries CollectedEnding Balance
Allowance for credit losses (1)
Real estate: 
Commercial real estate:
Non-owner occupied$25.5 $(2.5)$— $— $23.0 
Owner occupied18.3 (0.8)(0.1)— 17.4 
Multi-family11.0 0.8 — — 11.8 
Total commercial real estate54.8 (2.5)(0.1)— 52.2 
Construction:
Land acquisition & development1.3 (0.2)— 0.1 1.2 
Residential construction1.6 (0.2)— — 1.4 
Commercial construction7.3 (0.2)— 0.1 7.2 
Total construction10.2 (0.6)— 0.2 9.8 
Residential real estate:
Residential 1-4 family11.4 0.1 — — 11.5 
Home equity and HELOC1.4 — (0.1)0.1 1.4 
Total residential real estate12.8 0.1 (0.1)0.1 12.9 
Agricultural real estate2.7 0.1 — — 2.8 
Total real estate80.5 (2.9)(0.2)0.3 77.7 
Consumer:
Indirect16.7 — (1.3)0.6 16.0 
Direct and advance lines4.6 0.7 (0.8)0.3 4.8 
Credit card2.6 (0.7)(0.6)0.2 1.5 
Total consumer23.9 — (2.7)1.1 22.3 
Commercial:
Commercial and floor plans34.2 (1.8)(1.8)0.4 31.0 
Commercial purpose secured by 1-4 family4.7 (0.2)— 0.2 4.7 
Credit card0.3 0.2 (0.2)— 0.3 
Total commercial39.2 (1.8)(2.0)0.6 36.0 
Agricultural:
Agricultural0.7 (0.1)— — 0.6 
Total agricultural0.7 (0.1)— — 0.6 
Total allowance for credit losses$144.3 $(4.8)$(4.9)$2.0 $136.6 
(1) Amounts presented are exclusive of the allowance for credit losses related to unfunded commitments which are included in Note “Financial Instruments with Off-Balance Sheet Risk” included in this report.
Three Months Ended March 31, 2020Beginning Balance, Prior to Adoption of ASC 326Impact of Adopting ASC 326Provision for (reversal of) Credit LossLoans Charged-OffRecoveries CollectedEnding Balance
Allowance for credit losses (1)
Real estate:  
Commercial real estate:
Non-owner occupied$8.8 $4.9 $2.0 $— $— $15.7 
Owner occupied10.0 3.5 2.2 — — 15.7 
Multi-family0.7 6.9 0.5 — — 8.1 
Total commercial real estate19.5 15.3 4.7 — — 39.5 
Construction:
Land acquisition & development1.9 (0.1)0.1 (0.5)— 1.4 
Residential construction1.5 (0.9)0.5 — — 1.1 
Commercial construction2.7 1.3 2.1 — — 6.1 
Total construction6.1 0.3 2.7 (0.5)— 8.6 
Residential real estate:
Residential 1-4 family1.8 10.6 0.5 — — 12.9 
Home equity and HELOC1.0 0.5 (0.1)— — 1.4 
Total residential real estate2.8 11.1 0.4 — — 14.3 
Agricultural real estate0.5 1.8 0.3 — — 2.6 
Total real estate28.9 28.5 8.1 (0.5)— 65.0 
Consumer:
Indirect4.5 8.8 3.9 (1.2)0.7 16.7 
Direct and advance lines2.9 3.0 0.4 (1.0)0.2 5.5 
Credit card2.5 0.3 0.4 (0.8)0.2 2.6 
Total consumer9.9 12.1 4.7 (3.0)1.1 24.8 
Commercial:
Commercial and floor plans25.5 (5.1)13.5 (0.8)0.4 33.5 
Commercial purpose secured by 1-4 family5.9 (3.8)2.4 (0.1)— 4.4 
Credit card1.2 (1.1)0.4 (0.2)— 0.3 
Total commercial32.6 (10.0)16.3 (1.1)0.4 38.2 
Agricultural:
Agricultural1.6 (0.6)0.1 — — 1.1 
Total agricultural1.6 (0.6)0.1 — — 1.1 
Total allowance for credit losses$73.0 $30.0 $29.2 $(4.6)$1.5 $129.1 
(1) Amounts presented are exclusive of the allowance for credit losses related to unfunded commitments which are included in Note “Financial Instruments with Off-Balance Sheet Risk” included in this report.
Schedule of Recorded Investment in Impaired Loans
The following tables present the amortized cost basis of collateral-dependent loans by class of loans as of the dates indicated:
Collateral Type
As of March 31, 2021Business AssetsReal PropertyOtherTotal
Real estate$— $9.6 $— $9.6 
Commercial6.6 1.3 0.4 8.3 
Agricultural1.3 0.8 — 2.1 
Total collateral-dependent$7.9 $11.7 $0.4 $20.0 
Schedule of Recorded Investment in Past Due Loans by Class
Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Loans classified in the following table as greater than 90 days past due are still accruing interest. The following tables present the contractual aging of the Company’s recorded amortized cost basis in loans by portfolio as of the dates indicated.
Total Loans
30 - 5960 - 89> 9030 or More
DaysDaysDaysDaysCurrentNon-accrualTotal
As of March 31, 2021Past DuePast DuePast DuePast DueLoans
Loans (1)
Loans
Real estate
Commercial$7.9 $1.5 $0.4 $9.8 $3,696.7 $12.2 $3,718.7 
Construction:
Land acquisition & development0.5 0.1 0.1 0.7 261.9 0.6 263.2 
Residential0.1 — 0.2 0.3 241.8 — 242.1 
Commercial— — — — 581.0 — 581.0 
Total construction loans0.6 0.1 0.3 1.0 1,084.7 0.6 1,086.3 
Residential4.1 0.4 1.1 5.6 1,479.4 3.8 1,488.8 
Agricultural0.8 — — 0.8 212.3 5.7 218.8 
Total real estate loans13.4 2.0 1.8 17.2 6,473.1 22.3 6,512.6 
Consumer:
Indirect consumer3.9 0.9 0.2 5.0 776.0 1.9 782.9 
Other consumer0.8 0.1 0.1 1.0 138.4 0.3 139.7 
Credit card0.5 0.3 0.4 1.2 63.4 — 64.6 
Total consumer loans5.2 1.3 0.7 7.2 977.8 2.2 987.2 
Commercial2.4 1.0 1.5 4.9 2,166.7 9.5 2,181.1 
Agricultural0.9 0.1 0.4 1.4 210.3 3.0 214.7 
Other, including overdrafts— — — — 1.5 — 1.5 
Loans held for investment$21.9 $4.4 $4.4 $30.7 $9,829.4 $37.0 $9,897.1 
Total Loans
30 - 5960 - 89> 9030 or More
DaysDaysDaysDaysCurrentNon-accrualTotal
As of December 31, 2020Past DuePast DuePast DuePast DueLoans
Loans (1)
Loans
Real estate
Commercial$7.6 $1.2 $4.0 $12.8 $3,720.8 $9.6 $3,743.2 
Construction:
Land acquisition & development2.5 1.1 0.1 3.7 260.6 0.7 265.0 
Residential1.5 0.4 — 1.9 247.9 1.1 250.9 
Commercial12.2 — — 12.2 511.2 0.1 523.5 
Total construction loans16.2 1.5 0.1 17.8 1,019.7 1.9 1,039.4 
Residential4.7 1.6 0.5 6.8 1,384.9 4.6 1,396.3 
Agricultural2.0 — — 2.0 212.4 6.2 220.6 
Total real estate loans30.5 4.3 4.6 39.4 6,337.8 22.3 6,399.5 
Consumer:
Indirect consumer6.4 2.0 0.5 8.9 794.3 1.9 805.1 
Other consumer0.8 0.2 0.2 1.2 149.0 0.4 150.6 
Credit card0.6 0.4 0.6 1.6 68.6 — 70.2 
Total consumer loans7.8 2.6 1.3 11.7 1,011.9 2.3 1,025.9 
Commercial6.2 1.8 1.2 9.2 2,132.9 11.8 2,153.9 
Agricultural0.4 0.6 1.4 2.4 242.1 3.1 247.6 
Other, including overdrafts— — — — 1.6 — 1.6 
Loans held for investment$44.9 $9.3 $8.5 $62.7 $9,726.3 $39.5 $9,828.5 
(1) As of March 31, 2021 and December 31, 2020, none of our non-accrual loans were earning interest income. Additionally, no material interest income was recognized on non-accrual loans during the three months ended March 31, 2021 and 2020, respectively. Additionally, no material accrued interest was reversed at March 31, 2021 and 2020.
Schedule of Recorded Investment in Criticized Loans by Class and Credit Quality Indicator
The Company evaluates the credit quality and loan performance for the allowance for credit loan losses of the following segments based on the aforementioned risk scale:
March 31, 2021
Term Loans Amortized Cost Basis by Origination Year
Risk by Collateral20212020201920182017PriorRevolving Loans Amortized Cost BasisTotal
Commercial real estate non-owner occupied:
Pass$99.4 $472.0 $294.7 $194.0 $101.0 $461.3 $20.8 $1,643.2 
Special mention— 1.9 1.9 0.7 — 19.6 — 24.1 
Substandard4.0 15.7 2.7 1.0 1.2 14.5 — 39.1 
Total$103.4 $489.6 $299.3 $195.7 $102.2 $495.4 $20.8 $1,706.4 
Commercial real estate owner occupied:
Pass$70.4 $402.7 $300.3 $196.7 $119.3 $454.7 $7.0 $1,551.1 
Special mention0.5 7.1 1.7 4.0 4.2 35.6 — 53.1 
Substandard0.9 5.1 6.8 13.4 3.6 20.8 0.2 50.8 
Doubtful— 0.2 — — 0.2 — — 0.4 
Total$71.8 $415.1 $308.8 $214.1 $127.3 $511.1 $7.2 $1,655.4 
Commercial multi-family:
Pass$19.8 $120.8 $54.6 $22.5 $39.4 $98.9 $0.8 $356.8 
Substandard— — — — — 0.1 — 0.1 
Total$19.8 $120.8 $54.6 $22.5 $39.4 $99.0 $0.8 $356.9 
Land, acquisition and development:
Pass$30.3 $95.6 $51.4 $20.9 $28.6 $30.5 $1.3 $258.6 
Special mention— 0.2 0.1 — 0.4 1.1 0.5 2.3 
Substandard0.6 0.2 — 0.9 0.2 0.2 0.1 2.2 
Doubtful— — — — — 0.1 — 0.1 
Total$30.9 $96.0 $51.5 $21.8 $29.2 $31.9 $1.9 $263.2 
Residential construction:
Pass$27.9 $64.6 $58.2 $1.1 $3.4 $0.1 $86.6 $241.9 
Substandard— — — 0.2 — — — 0.2 
Total$27.9 $64.6 $58.2 $1.3 $3.4 $0.1 $86.6 $242.1 
Commercial construction:
Pass$61.1 $257.6 $191.7 $43.2 $11.0 $5.8 $9.1 $579.5 
Special mention— — — 1.5 — — — 1.5 
Total$61.1 $257.6 $191.7 $44.7 $11.0 $5.8 $9.1 $581.0 
March 31, 2021
Term Loans Amortized Cost Basis by Origination Year
Risk by Collateral20212020201920182017PriorRevolving Loans Amortized Cost BasisTotal
Agricultural real estate:
Pass$14.4 $45.8 $42.3 $26.4 $16.4 $36.2 $4.4 $185.9 
Special mention0.6 2.5 6.7 1.1 1.5 2.0 1.0 15.4 
Substandard— 1.4 5.2 3.3 0.9 6.6 0.1 17.5 
Total$15.0 $49.7 $54.2 $30.8 $18.8 $44.8 $5.5 $218.8 
Commercial and floor plans:
Pass$880.1 $231.3 $137.0 $122.7 $64.3 $125.6 $231.1 $1,792.1 
Special mention0.5 16.0 1.3 3.1 6.5 4.0 4.3 35.7 
Substandard1.5 6.4 1.4 1.6 0.6 5.3 5.1 21.9 
Doubtful— 0.3 0.3 — — 0.4 0.2 1.2 
Total$882.1 $254.0 $140.0 $127.4 $71.4 $135.3 $240.7 $1,850.9 
Commercial purpose secured by 1-4 family:
Pass$15.3 $75.6 $50.7 $30.5 $19.1 $44.7 $16.1 $252.0 
Special mention— 0.2 0.5 1.0 0.1 1.1 0.4 3.3 
Substandard0.4 2.5 0.8 1.6 0.3 1.9 0.1 7.6 
Total$15.7 $78.3 $52.0 $33.1 $19.5 $47.7 $16.6 $262.9 
Agricultural:
Pass$20.1 $36.2 $13.7 $9.4 $3.7 $3.1 $102.9 $189.1 
Special mention0.6 1.0 0.6 0.3 — 0.3 11.4 14.2 
Substandard0.3 0.7 1.3 2.7 0.6 0.4 3.8 9.8 
Total$21.0 $37.9 $15.6 $12.4 $4.3 $3.8 $118.1 $213.1 
The following tables present the recorded investment of our other loan portfolios based on the credit risk profile of loans that are performing and loans that are nonperforming as of the periods indicated:
March 31, 2021
Term Loans Amortized Cost Basis by Origination Year
Risk by Collateral20212020201920182017PriorRevolving Loans Amortized Cost BasisTotal
Residential 1-4 family:
Performing$151.1 $504.4 $93.6 $48.8 $39.5 $268.3 $1.5 $1,107.2 
Nonperforming— 0.2 0.7 — 0.2 1.6 — 2.7 
Total$151.1 $504.6 $94.3 $48.8 $39.7 $269.9 $1.5 $1,109.9 
Consumer home equity and HELOC:
Performing$3.0 $10.7 $6.1 $6.4 $8.1 $17.0 $325.6 $376.9 
Nonperforming— — 0.4 — 0.6 0.9 0.1 2.0 
Total$3.0 $10.7 $6.5 $6.4 $8.7 $17.9 $325.7 $378.9 
Consumer indirect:
Performing$70.5 $304.8 $165.8 $101.9 $62.2 $75.6 $— $780.8 
Nonperforming— 0.3 0.6 0.4 0.2 0.6 — 2.1 
Total$70.5 $305.1 $166.4 $102.3 $62.4 $76.2 $— $782.9 
March 31, 2021
Term Loans Amortized Cost Basis by Origination Year
Risk by Collateral20212020201920182017PriorRevolving Loans Amortized Cost BasisTotal
Consumer direct and advance line:
Performing$9.8 $41.4 $25.3 $23.6 $10.0 $11.7 $17.4 $139.2 
Nonperforming— — 0.1 0.2 — 0.1 0.1 0.5 
Total$9.8 $41.4 $25.4 $23.8 $10.0 $11.8 $17.5 $139.7 
The following table presents the recorded investment in credit card loans based on payment activity:
As of March 31, 2021ConsumerCommercialAgriculturalTotal
Credit Card:
Performing$64.2 $67.1 $1.5 $132.8 
Nonperforming0.4 0.3 0.1 0.8 
Total$64.6 $67.4 $1.6 $133.6