Loans Held for Investment

6 Months Ended

Jun. 30, 2022

Receivables [Abstract]

Loans

Loans Held for Investment

The following table presents loans by segment as of the dates indicated:

	June 30, 2022		December 31, 2021
Real estate loans:
Commercial	$	7,857.7	$	3,971.5
Construction loans:
Land acquisition & development	355.7		247.8
Residential	444.8		262.0
Commercial	959.0		498.0
Total construction loans	1,759.5		1,007.8
Residential	2,060.4		1,538.2
Agricultural	821.5		213.9
Total real estate loans	12,499.1		6,731.4
Consumer loans:
Indirect	733.9		737.6
Direct and advance lines	157.3		129.2
Credit card	74.8		64.9
Total consumer loans	966.0		931.7
Commercial	3,036.0		1,475.5
Agricultural	672.0		203.9
Other, including overdrafts	—		1.5
Loans held for investment	17,173.1		9,344.0
Deferred loan fees and costs	(10.6)		(12.3)
Loans held for investment, net of deferred fees and costs	17,162.5		9,331.7
Allowance for credit losses	(220.4)		(122.3)
Net loans held for investment	$	16,942.1	$	9,209.4

Allowance for Credit Losses

The following tables represent, by loan portfolio segment, the activity in the allowance for credit losses for loans held for investment:

Three Months Ended June 30, 2022	Beginning Balance		Provisional ACL Recorded for PCD loans		Provision for (reversal of) Credit Losses		Loans Charged-Off		Recoveries Collected		Ending Balance
Allowance for credit losses (1)
Real estate:
Commercial real estate:
Non-owner occupied	$	45.2	$	(6.9)	$	(8.8)	$	—	$	—	$	29.5
Owner occupied	25.2		—		1.4		—		—		26.6
Multi-family	54.6		(19.0)		(2.9)		—		0.7		33.4
Total commercial real estate	125.0		(25.9)		(10.3)		—		0.7		89.5
Construction:
Land acquisition & development	0.5		—		0.2		—		0.1		0.8
Residential construction	3.3		—		0.1		—		—		3.4
Commercial construction	10.2		—		4.7		—		—		14.9
Total construction	14.0		—		5.0		—		0.1		19.1
Residential real estate:
Residential 1-4 family	18.7		—		(0.7)		—		0.2		18.2
Home equity and HELOC	1.4		—		(0.1)		—		0.2		1.5
Total residential real estate	20.1		—		(0.8)		—		0.4		19.7
Agricultural real estate	10.5		—		(5.1)		(0.1)		0.1		5.4
Total real estate	169.6		(25.9)		(11.2)		(0.1)		1.3		133.7
Consumer:
Indirect	13.5		—		(0.4)		(0.8)		0.8		13.1
Direct and advance lines	4.6		—		0.5		(0.6)		0.5		5.0
Credit card	2.3		—		0.7		(0.9)		0.1		2.2
Total consumer	20.4		—		0.8		(2.3)		1.4		20.3
Commercial:
Commercial and floor plans	52.9		—		1.9		(1.1)		0.4		54.1
Commercial purpose secured by 1-4 family	5.0		—		0.4		—		0.1		5.5
Credit card	0.3		—		0.1		(0.1)		—		0.3
Total commercial	58.2		—		2.4		(1.2)		0.5		59.9
Agricultural:
Agricultural (2)	(1.0)		1.1		6.3		(0.1)		0.2		6.5
Total agricultural	(1.0)		1.1		6.3		(0.1)		0.2		6.5
Total allowance for credit losses	$	247.2	$	(24.8)	$	(1.7)	$	(3.7)	$	3.4	$	220.4
(1) Amounts presented exclude the allowance for credit losses related to unfunded commitments. These amounts are included in Note “Financial Instruments with Off-Balance Sheet Risk” and the allowance for credit losses related to investment securities which are included in Note “Investment Securities” included in this report.
(2) The agricultural ACL beginning balance reflects loan reclassifications to conform the March 31, 2022 loan classifications to June 30, 2022 which were offset by additional provisional ACL as of June 30, 2022.

Six Months Ended June 30, 2022	Beginning Balance		Provisional ACL Recorded for PCD loans		Provision for (reversal of) Credit Losses (2)		Loans Charged-Off		Recoveries Collected		Ending Balance
Allowance for credit losses (1)
Real estate:
Commercial real estate:
Non-owner occupied	$	17.3	$	17.2	$	(2.1)	$	(2.9)	$	—	$	29.5
Owner occupied	13.3		9.5		6.0		(2.2)		—		26.6
Multi-family	13.3		10.9		8.5		—		0.7		33.4
Total commercial real estate	43.9		37.6		12.4		(5.1)		0.7		89.5
Construction:
Land acquisition & development	0.5		3.4		(0.6)		(2.7)		0.2		0.8
Residential construction	2.4		—		1.0		—		—		3.4
Commercial construction	6.0		0.2		8.7		—		—		14.9
Total construction	8.9		3.6		9.1		(2.7)		0.2		19.1
Residential real estate:
Residential 1-4 family	13.4		0.1		4.5		(0.1)		0.3		18.2
Home equity and HELOC	1.2		—		—		—		0.3		1.5
Total residential real estate	14.6		0.1		4.5		(0.1)		0.6		19.7
Agricultural real estate	1.9		2.3		1.3		(0.2)		0.1		5.4
Total real estate	69.3		43.6		27.3		(8.1)		1.6		133.7
Consumer:
Indirect	14.3		—		(0.7)		(1.7)		1.2		13.1
Direct and advance lines	4.6		—		0.4		(1.4)		1.4		5.0
Credit card	2.2		—		1.3		(1.5)		0.2		2.2
Total consumer	21.1		—		1.0		(4.6)		2.8		20.3
Commercial:
Commercial and floor plans	27.1		11.2		20.3		(5.3)		0.8		54.1
Commercial purpose secured by 1-4 family	4.4		0.2		0.8		—		0.1		5.5
Credit card	0.1		—		0.4		(0.2)		—		0.3
Total commercial	31.6		11.4		21.5		(5.5)		0.9		59.9
Agricultural:
Agricultural	0.3		4.5		5.8		(5.4)		1.3		6.5
Total agricultural	0.3		4.5		5.8		(5.4)		1.3		6.5
Total allowance for credit losses	$	122.3	$	59.5	$	55.6	$	(23.6)	$	6.6	$	220.4
(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.
(2) Amounts include $68.3 million related to the acquired GWB non-PCD loans.

Three Months Ended June 30, 2021	Beginning Balance		Provision for (reversal of) Credit Losses		Loans Charged-Off		Recoveries Collected		Ending Balance
Allowance for credit losses (1)
Real estate:
Commercial real estate:
Non-owner occupied	$	23.0	$	(0.2)	$	—	$	0.1	$	22.9
Owner occupied	17.4		1.4		(2.2)		—		16.6
Multi-family	11.8		(0.2)		—		—		11.6
Total commercial real estate	52.2		1.0		(2.2)		0.1		51.1
Construction:
Land acquisition & development	1.2		(0.4)		(0.1)		0.3		1.0
Residential construction	1.4		0.2		(0.1)		—		1.5
Commercial construction	7.2		0.9		(0.1)		—		8.0
Total construction	9.8		0.7		(0.3)		0.3		10.5
Residential real estate:
Residential 1-4 family	11.5		1.9		—		—		13.4
Home equity and HELOC	1.4		(0.1)		—		0.1		1.4
Total residential real estate	12.9		1.8		—		0.1		14.8
Agricultural real estate	2.8		0.2		—		—		3.0
Total real estate	77.7		3.7		(2.5)		0.5		79.4
Consumer:
Indirect	16.0		(0.2)		(0.8)		0.8		15.8
Direct and advance lines	4.8		—		(0.4)		0.2		4.6
Credit card	1.5		0.3		(0.4)		0.2		1.6
Total consumer	22.3		0.1		(1.6)		1.2		22.0
Commercial:
Commercial and floor plans	31.0		(3.4)		(0.3)		1.7		29.0
Commercial purpose secured by 1-4 family	4.7		(0.4)		(0.1)		0.2		4.4
Credit card	0.3		—		(0.1)		0.1		0.3
Total commercial	36.0		(3.8)		(0.5)		2.0		33.7
Agricultural:
Agricultural	0.6		—		(0.2)		—		0.4
Total agricultural	0.6		—		(0.2)		—		0.4
Total allowance for credit losses	$	136.6	$	—	$	(4.8)	$	3.7	$	135.5
(1) Amounts presented exclude the allowance for credit losses related to unfunded commitments. These amounts are included in Note “Financial Instruments with Off-Balance Sheet Risk” included in this report.

Six Months Ended June 30, 2021	Beginning Balance		Provision for (reversal of) Credit Losses		Loans Charged-Off		Recoveries Collected		Ending Balance
Allowance for credit losses (1)
Real estate:
Commercial real estate:
Non-owner occupied	$	25.5	$	(2.7)	$	—	$	0.1	$	22.9
Owner occupied	18.3		0.6		(2.3)		—		16.6
Multi-family	11.0		0.6		—		—		11.6
Total commercial real estate	54.8		(1.5)		(2.3)		0.1		51.1
Construction:
Land acquisition & development	1.3		(0.6)		(0.1)		0.4		1.0
Residential construction	1.6		—		(0.1)		—		1.5
Commercial construction	7.3		0.7		(0.1)		0.1		8.0
Total construction	10.2		0.1		(0.3)		0.5		10.5
Residential real estate:
Residential 1-4 family	11.4		2.0		—		—		13.4
Home equity and HELOC	1.4		(0.1)		(0.1)		0.2		1.4
Total residential real estate	12.8		1.9		(0.1)		0.2		14.8
Agricultural real estate	2.7		0.3		—		—		3.0
Total real estate	80.5		0.8		(2.7)		0.8		79.4
Consumer:
Indirect	16.7		(0.2)		(2.1)		1.4		15.8
Direct and advance lines	4.6		0.7		(1.2)		0.5		4.6
Credit card	2.6		(0.4)		(1.0)		0.4		1.6
Total consumer	23.9		0.1		(4.3)		2.3		22.0
Commercial:
Commercial and floor plans	34.2		(5.2)		(2.1)		2.1		29.0
Commercial purpose secured by 1-4 family	4.7		(0.6)		(0.1)		0.4		4.4
Credit card	0.3		0.2		(0.3)		0.1		0.3
Total commercial	39.2		(5.6)		(2.5)		2.6		33.7
Agricultural:
Agricultural	0.7		(0.1)		(0.2)		—		0.4
Total agricultural	0.7		(0.1)		(0.2)		—		0.4
Total allowance for credit losses	$	144.3	$	(4.8)	$	(9.7)	$	5.7	$	135.5
(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.

Collateral-Dependent Financial Loans

A collateral-dependent financial loan relies solely on the operation or sale of the collateral for repayment. In evaluating the overall risk associated with a loan, the Company considers (1) character, overall financial condition and resources, and payment record of the borrower; (2) the prospects for support from any financially responsible guarantors; and (3) the nature and degree of protection provided by the cash flow and value of any underlying collateral. The loan may become collateral-dependent when the borrower is experiencing financial difficulty and, its sources of repayment become inadequate over time. At such time, the Company develops an expectation that repayment will be provided substantially through the operation or sale of the collateral.

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 June 30, 2022	Business Assets		Real Property		Other		Total
Real estate	$	1.2	$	63.6	$	—	$	64.8
Commercial	4.6		5.6		—		10.2
Agricultural	—		10.5		—		10.5
Total collateral-dependent	$	5.8	$	79.7	$	—	$	85.5

	Collateral Type
As of December 31, 2021	Business Assets		Real Property		Other		Total
Real estate	$	1.2	$	7.0	$	—	$	8.2
Commercial	1.8		1.0		—		2.8
Agricultural	—		0.7		—		0.7
Total collateral-dependent	$	3.0	$	8.7	$	—	$	11.7

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 continue to accrue 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 - 59		60 - 89		> 90		30 or More
	Days		Days		Days		Days		Current		Non-accrual		Total
As of June 30, 2022	Past Due		Past Due		Past Due		Past Due		Loans		Loans (1)		Loans
Real estate
Commercial	$	5.1	$	2.1	$	0.7	$	7.9	$	7,820.1	$	29.7	$	7,857.7
Construction:
Land acquisition & development	0.7		0.1		—		0.8		350.8		4.1		355.7
Residential	1.0		0.4		—		1.4		443.4		—		444.8
Commercial	10.7		—		—		10.7		948.3		—		959.0
Total construction loans	12.4		0.5		—		12.9		1,742.5		4.1		1,759.5
Residential	3.2		2.1		0.4		5.7		2,049.7		5.0		2,060.4
Agricultural	2.1		—		0.3		2.4		781.2		37.9		821.5
Total real estate loans	22.8		4.7		1.4		28.9		12,393.5		76.7		12,499.1
Consumer:
Indirect consumer	5.3		1.4		0.2		6.9		725.2		1.8		733.9
Other consumer	0.6		0.2		—		0.8		156.3		0.2		157.3
Credit card	0.6		0.2		0.3		1.1		73.7		—		74.8
Total consumer loans	6.5		1.8		0.5		8.8		955.2		2.0		966.0
Commercial	8.4		2.1		1.0		11.5		3,010.6		13.9		3,036.0
Agricultural	10.0		0.1		—		10.1		647.5		14.4		672.0
Loans held for investment	$	47.7	$	8.7	$	2.9	$	59.3	$	17,006.8	$	107.0	$	17,173.1

							Total Loans
	30 - 59		60 - 89		> 90		30 or More
	Days		Days		Days		Days		Current		Non-accrual		Total
As of December 31, 2021	Past Due		Past Due		Past Due		Past Due		Loans		Loans (1)		Loans
Real estate
Commercial	$	1.1	$	1.0	$	0.6	$	2.7	$	3,960.8	$	8.0	$	3,971.5
Construction:
Land acquisition & development	0.2		—		—		0.2		246.9		0.7		247.8
Residential	4.2		—		—		4.2		257.8		—		262.0
Commercial	—		—		—		—		498.0		—		498.0
Total construction loans	4.4		—		—		4.4		1,002.7		0.7		1,007.8
Residential	3.0		0.8		0.1		3.9		1,531.4		2.9		1,538.2
Agricultural	1.9		0.2		—		2.1		206.9		4.9		213.9
Total real estate loans	10.4		2.0		0.7		13.1		6,701.8		16.5		6,731.4
Consumer:
Indirect consumer	5.1		1.4		0.4		6.9		729.0		1.7		737.6
Other consumer	0.5		0.2		0.1		0.8		128.3		0.1		129.2
Credit card	0.6		0.2		0.5		1.3		63.6		—		64.9
Total consumer loans	6.2		1.8		1.0		9.0		920.9		1.8		931.7
Commercial	4.9		0.7		1.1		6.7		1,463.8		5.0		1,475.5
Agricultural	0.7		—		—		0.7		201.6		1.6		203.9
Other, including overdrafts	—		—		—		—		1.5		—		1.5
Loans held for investment	$	22.2	$	4.5	$	2.8	$	29.5	$	9,289.6	$	24.9	$	9,344.0

(1) As of June 30, 2022 and December 31, 2021, none of our non-accrual loans were earning interest income. Additionally, no material interest income was recognized on non-accrual loans during the three and the six months ended June 30, 2022 and 2021, respectively. There were no material reversals of accrued interest at June 30, 2022 and 2021.

Troubled Debt Restructurings

Modifications of performing loans are made in the ordinary course of business and are completed on a case-by-case basis through negotiation with the borrower in connection with the ongoing loan collection processes. Loan modifications are made to provide borrowers payment relief and typically include adjustments such as changes to interest rates, the implementation of interest only periods of less than twelve months, the deferment of short-term payments, and extension of amortization periods. A loan modification is considered a troubled debt restructuring if the borrower is experiencing financial difficulties and the Company, for economic or legal reasons, grants a concession to the borrower that it would not under other circumstances. Certain troubled loans are on non-accrual status at the time of debt restructuring. These restructured loans may be returned to accrual status if the borrower has exhibited sustained repayment performance in compliance with the restructuring agreement for a period of at least six months and the Company is reasonably assured of the borrower’s future performance. If the troubled debt restructuring meets these performance criteria, and the interest rate granted at the modification date is equal to or greater than the rate that the Company might grant for a new loan at the same time at comparable risk, then the loan will be reclassified to performing status and the accrual of interest will resume. Loans that return to performing status will continue to be evaluated individually for credit deterioration in the ordinary course of business.

The Company renegotiated loans in troubled debt restructurings in the amount of $28.9 million as of June 30, 2022, of which $8.4 million were included in non-accrual loans and $20.5 million were on accrual status. As of June 30, 2022, the Company allocated $0.2 million of its allowance for credit losses to these loans. The Company had no material commitments to lend additional funds to borrowers whose existing loans had been renegotiated or classified as non-accrual.

The Company renegotiated loans in troubled debt restructurings in the amount of $6.2 million as of December 31, 2021, of which $3.9 million were included in non-accrual loans and $2.3 million were on accrual status. As of December 31, 2021, the Company allocated $0.1 million of its allowance for credit losses to these loans. The Company had no material commitments to lend additional funds to borrowers whose existing loans had been renegotiated or classified as non-accrual.

The Company had $6.4 million and $23.6 million of new troubled debt restructurings during the three and the six months ended June 30, 2022, respectively.

	Number of Notes	Type of Concession								Principal Balance at Restructure
Three Months Ended June 30, 2022		Interest only period		Extension of term or amortization schedule		Interest rate adjustment		Other (1)
Commercial real estate	1	$	—	$	—	$	—	$	0.2	$	0.2
Residential real estate	1	—		0.1		—		—		0.1
Commercial	1	—		—		—		0.2		0.2
Agricultural	1	—		—		—		5.9		5.9
Total loans restructured during period	4	$	—	$	0.1	$	—	$	6.3	$	6.4
(1) Other includes concessions that reduce or defer payments for a specified period of time and/or concessions that do not fit into other designated categories.
	Number of Notes	Type of Concession								Principal Balance at Restructure
Six Months Ended June 30, 2022		Interest only period		Extension of term or amortization schedule		Interest rate adjustment		Other (1)
Commercial real estate	3	$	3.2	$	4.2	$	—	$	0.2	$	7.6
Residential real estate	2	—		0.6		—		—		0.6
Agriculture real estate	1	—		8.9		—		—		8.9
Commercial	2	—		—		—		0.6		0.6
Agriculture	1	—		—		—		5.9		5.9
Total loans restructured during period	9	$	3.2	$	13.7	$	—	$	6.7	$	23.6
(1) Other includes concessions that reduce or defer payments for a specified period of time and/or concessions that do not fit into other designated categories.

For troubled debt restructurings that were on non-accrual status or otherwise deemed collateral-dependent before a modification, the Company may record an allowance for credit losses depending on the circumstances. In periods after modification, the Company continues to evaluate all troubled debt restructurings for possible credit deterioration and, where deterioration is observed, recognizes credit loss through the allowance. Additionally, the Company continues to work these loans through the credit cycle through charge-off, pay-off, or foreclosure. Financial effects of modifications of troubled debt restructurings may include principal loan forgiveness or other charge-offs directly related to the restructuring. The Company had no charge-offs directly related to modifying troubled debt restructurings during the three and the six months ended June 30, 2022 or 2021.

The Company had no material troubled debt restructurings resulting in payment default during the previous 12 months ended June 30, 2022. The Company considers a payment default to occur on troubled debt restructurings when the loan is 90 days or more past due or the loan is placed on non-accrual status after the modification.

The Company modified the terms of certain other loans with a total recorded investment of $190.8 million as of June 30, 2022, where the loan did not meet the definition of a troubled debt restructuring and the borrowers had not been experiencing financial difficulties or there were delays in a payment considered to be insignificant. The Company determines whether a borrower is experiencing financial difficulty by evaluating the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification as required under the Company’s internal underwriting policy.

Purchased Credit Deteriorated Loans (PCD)

The Company analyzes all acquired loans at the time of acquisition for more-than-insignificant deterioration in credit quality since their origination date. Such loans are classified as PCD, also referred to as PCD loans. Acquired loans classified as PCD are recorded at an initial amortized cost, which is comprised of the purchase price of the loans plus the initial allowance for credit losses for the loans, and any resulting discount or premium related to factors other than credit. The Company accounts for interest income on PCD loans using the interest method, whereby any purchase discounts or premiums are accreted or amortized into interest income as an adjustment of the loan’s yield.

The following table reconciles the par value, or initial amortized cost, of PCD loans acquired in the GWB acquisition as of the date of the acquisition with the purchase price (or initial fair value of the loans) as amended for measurement period adjustments as of June 30, 2022:

Purchase price (initial fair value)	$	623.3
Allowance for credit losses (1)	298.2
Discount attributable to other factors (2)	57.7
Par value (unpaid principal balance)	$	979.2

(1) For acquired PCD loans, an allowance of $298.2 million was required with a corresponding increase to the amortized cost basis as of the acquisition date. For PCD loans where all or a portion of the loan balance had been previously written-off by GWB, or would be subject to write-off under the Company’s charge-off policy, a CECL allowance of $238.7 million, included as part of the grossed-up loan balance at acquisition was immediately written-off. The net impact to the allowance for PCD assets on the acquisition date was $59.5 million.

(2) Non-credit discount includes the difference between the amortized cost basis and the unpaid principal balance of $39.6 million established on GWB PCD loans acquired and interest applied to principal of $18.1 million.

Credit Quality Indicators

As part of the on-going and continuous monitoring of the credit quality of the Company’s loan portfolio, management tracks internally assigned risk classifications of loans based on relevant information about the ability of borrowers to service their debt. The factors considered by the Company include, among other factors, the borrower’s current financial information, historical payment experience, credit documentation, public information, and current economic trends. The Company analyzes loans individually to classify the credit risk of the loans. This analysis generally includes loans with an outstanding balance greater than $1.0 million, which are generally considered non-homogeneous loans, such as commercial loans and commercial real estate loans. This analysis is performed no less than on an annual basis, depending upon the size of exposure and the contractual obligations governing the borrower’s financial reporting frequency. Homogeneous loans, including small business loans, are typically managed by payment performance. The Company internally risk rates its loans in accordance with a Uniform Classification System developed jointly by the various bank regulatory agencies. The Uniform Classification System defines three broad categories of criticized assets, which the Company uses as credit quality indicators in addition to the 6 Pass ratings in its 10-point rating scale:

Special Mention — includes loans that exhibit a potential weakness in financial condition, loan structure, or documentation that warrants management’s close attention. If not promptly corrected, the potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date.

Substandard — includes loans that are inadequately protected by the current net worth and paying capacity of the borrower which have well-defined weaknesses that jeopardize the liquidation of the debt. Although the primary source of repayment for a substandard loan may not currently be sufficient, collateral or other sources of repayment are sufficient to satisfy the debt. Continuance of a substandard loan is not warranted unless positive steps are taken to improve the worthiness of the credit.

Doubtful — includes loans that exhibit pronounced weaknesses based on currently existing facts, conditions, and values to a point where collection or liquidation for full repayment is highly questionable and improbable. Doubtful loans are required to be placed on non-accrual status and are assigned specific loss exposure.

Loans not meeting the criteria above that are analyzed individually as part of the above-described process are considered pass-rated loans.

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 for the periods indicated:

	June 30, 2022
	Term Loans Amortized Cost Basis by Origination Year
Risk by Collateral	2022		2021		2020		2019		2018		Prior		Revolving Loans Amortized Cost Basis		Total
Commercial real estate non-owner occupied:
Pass	$	458.6	$	817.2	$	677.9	$	536.0	$	251.2	$	641.7	$	30.4	$	3,413.0
Special mention	6.1		25.0		1.9		18.0		33.8		24.5		—		109.3
Substandard	3.2		12.8		25.0		17.7		31.6		32.0		—		122.3
Doubtful	0.3		—		—		1.6		1.8		—		—		3.7
Total	$	468.2	$	855.0	$	704.8	$	573.3	$	318.4	$	698.2	$	30.4	$	3,648.3
Commercial real estate owner occupied:
Pass	$	438.6	$	793.8	$	564.2	$	307.8	$	239.7	$	887.2	$	25.1	$	3,256.4
Special mention	3.0		5.6		3.0		7.1		2.1		12.7		0.3		33.8
Substandard	10.3		2.9		3.0		5.2		4.3		26.8		0.4		52.9
Doubtful	—		2.9		—		—		9.4		2.0		—		14.3
Total	$	451.9	$	805.2	$	570.2	$	320.1	$	255.5	$	928.7	$	25.8	$	3,357.4
Commercial multi-family:
Pass	$	152.3	$	212.8	$	185.3	$	54.0	$	36.5	$	122.7	$	3.2	$	766.8
Substandard	—		—		37.5		1.2		46.2		0.3		—		85.2
Total	$	152.3	$	212.8	$	222.8	$	55.2	$	82.7	$	123.0	$	3.2	$	852.0
Land, acquisition and development:
Pass	$	79.1	$	151.9	$	33.8	$	26.1	$	15.2	$	31.7	$	12.7	$	350.5
Special mention	—		—		—		—		0.2		0.3		—		0.5
Substandard	—		0.7		0.2		—		—		0.6		—		1.5
Doubtful	—		3.2		—		—		—		—		—		3.2
Total	$	79.1	$	155.8	$	34.0	$	26.1	$	15.4	$	32.6	$	12.7	$	355.7
Residential construction:
Pass	$	73.1	$	138.8	$	0.4	$	9.7	$	0.8	$	6.2	$	215.4	$	444.4
Substandard	—		—		—		—		—		0.4		—		0.4
Total	$	73.1	$	138.8	$	0.4	$	9.7	$	0.8	$	6.6	$	215.4	$	444.8
Commercial construction:
Pass	$	198.0	$	432.0	$	187.6	$	87.2	$	1.9	$	—	$	7.5	$	914.2
Special mention	—		—		23.1		—		—		—		—		23.1
Substandard	—		—		—		21.7		—		—		—		21.7
Total	$	198.0	$	432.0	$	210.7	$	108.9	$	1.9	$	—	$	7.5	$	959.0
Agricultural real estate:
Pass	$	112.6	$	182.2	$	122.2	$	70.0	$	53.9	$	134.1	$	29.8	$	704.8
Special mention	1.5		2.5		2.3		1.8		9.7		5.9		9.9		33.6
Substandard	3.3		17.6		4.0		3.2		22.0		13.7		12.6		76.4
Doubtful	—		0.9		3.1		0.8		—		1.9		—		6.7
Total	$	117.4	$	203.2	$	131.6	$	75.8	$	85.6	$	155.6	$	52.3	$	821.5
Commercial and floor plans:
Pass	$	318.5	$	447.6	$	256.9	$	151.3	$	149.1	$	202.6	$	821.7	$	2,347.7
Special mention	6.6		7.1		2.5		4.1		2.3		6.1		22.4		51.1
Substandard	13.5		1.5		3.4		2.6		3.6		8.1		11.6		44.3
Doubtful	—		4.7		0.2		—		—		1.6		—		6.5
Total	$	338.6	$	460.9	$	263.0	$	158.0	$	155.0	$	218.4	$	855.7	$	2,449.6

	June 30, 2022
	Term Loans Amortized Cost Basis by Origination Year
Risk by Collateral	2022		2021		2020		2019		2018		Prior		Revolving Loans Amortized Cost Basis		Total
Commercial purpose secured by 1-4 family:
Pass	$	106.5	$	147.2	$	69.9	$	32.7	$	32.4	$	47.6	$	25.0	$	461.3
Special mention	0.2		0.4		0.6		0.6		1.9		0.6		—		4.3
Substandard	0.4		1.3		1.2		0.3		0.6		1.3		0.1		5.2
Doubtful	—		0.2		—		—		—		—		—		0.2
Total	$	107.1	$	149.1	$	71.7	$	33.6	$	34.9	$	49.5	$	25.1	$	471.0
Agricultural:
Pass	$	103.1	$	91.1	$	37.2	$	13.4	$	10.6	$	1.2	$	343.8	$	600.4
Special mention	3.1		2.2		0.6		1.3		0.7		0.3		10.9		19.1
Substandard	22.8		6.9		5.1		0.9		1.8		0.7		4.3		42.5
Doubtful	—		4.6		—		—		2.5		0.9		—		8.0
Total	$	129.0	$	104.8	$	42.9	$	15.6	$	15.6	$	3.1	$	359.0	$	670.0

	December 31, 2021
	Term Loans Amortized Cost Basis by Origination Year
Risk by Collateral	2021		2020		2019		2018		2017		Prior		Revolving Loans Amortized Cost Basis		Total
Commercial real estate non-owner occupied:
Pass	$	507.9	$	452.2	$	237.9	$	150.4	$	76.3	$	409.0	$	15.3	$	1,849.0
Special mention	0.2		3.1		2.1		—		—		3.6		—		9.0
Substandard	3.9		15.3		2.3		0.7		1.0		12.4		—		35.6
Total	$	512.0	$	470.6	$	242.3	$	151.1	$	77.3	$	425.0	$	15.3	$	1,893.6
Commercial real estate owner occupied:
Pass	$	452.7	$	314.9	$	235.0	$	151.0	$	94.5	$	322.5	$	14.2	$	1,584.8
Special mention	1.3		3.2		1.5		7.4		3.5		13.8		—		30.7
Substandard	3.8		4.3		4.7		5.4		2.7		20.3		—		41.2
Total	$	457.8	$	322.4	$	241.2	$	163.8	$	100.7	$	356.6	$	14.2	$	1,656.7
Commercial multi-family:
Pass	$	129.1	$	118.6	$	43.9	$	15.4	$	36.0	$	76.7	$	1.5	$	421.2
Total	$	129.1	$	118.6	$	43.9	$	15.4	$	36.0	$	76.7	$	1.5	$	421.2
Land, acquisition and development:
Pass	$	113.0	$	41.5	$	34.2	$	14.8	$	19.8	$	20.8	$	1.2	$	245.3
Special mention	—		0.1		—		—		0.1		0.3		—		0.5
Substandard	0.8		0.2		—		0.6		0.3		0.1		—		2.0
Total	$	113.8	$	41.8	$	34.2	$	15.4	$	20.2	$	21.2	$	1.2	$	247.8
Residential construction:
Pass	$	112.4	$	7.0	$	13.7	$	0.9	$	—	$	—	$	127.2	$	261.2
Substandard	—		0.4		—		—		0.4		—		—		0.8
Total	$	112.4	$	7.4	$	13.7	$	0.9	$	0.4	$	—	$	127.2	$	262.0
Commercial construction:
Pass	$	209.7	$	141.4	$	118.8	$	27.6	$	—	$	0.5	$	—	$	498.0
Total	$	209.7	$	141.4	$	118.8	$	27.6	$	—	$	0.5	$	—	$	498.0

	December 31, 2021
	Term Loans Amortized Cost Basis by Origination Year
Risk by Collateral	2021		2020		2019		2018		2017		Prior		Revolving Loans Amortized Cost Basis		Total
Agricultural real estate:
Pass	$	58.3	$	36.9	$	35.1	$	22.6	$	11.8	$	28.1	$	4.9	$	197.7
Special mention	0.1		1.3		1.2		0.1		0.1		0.9		0.9		4.6
Substandard	4.0		0.4		1.0		0.6		1.3		4.3		—		11.6
Total	$	62.4	$	38.6	$	37.3	$	23.3	$	13.2	$	33.3	$	5.8	$	213.9
Commercial and floor plans:
Pass	$	394.2	$	165.7	$	94.5	$	73.5	$	47.1	$	91.3	$	224.7	$	1,091.0
Special mention	0.8		11.4		0.8		0.8		3.0		2.3		7.0		26.1
Substandard	1.3		2.8		1.6		2.6		0.6		4.1		2.6		15.6
Total	$	396.3	$	179.9	$	96.9	$	76.9	$	50.7	$	97.7	$	234.3	$	1,132.7
Commercial purpose secured by 1-4 family:
Pass	$	94.9	$	55.0	$	27.8	$	23.1	$	15.3	$	32.2	$	14.4	$	262.7
Special mention	—		0.2		0.2		0.5		0.1		0.6		—		1.6
Substandard	1.3		1.2		0.6		0.6		0.2		1.3		0.1		5.3
Total	$	96.2	$	56.4	$	28.6	$	24.2	$	15.6	$	34.1	$	14.5	$	269.6
Agricultural:
Pass	$	35.1	$	16.2	$	9.0	$	5.4	$	2.1	$	1.6	$	108.9	$	178.3
Special mention	0.2		4.1		0.1		0.4		0.6		0.3		7.0		12.7
Substandard	4.9		0.7		0.6		2.5		—		0.1		2.6		11.4
Total	$	40.2	$	21.0	$	9.7	$	8.3	$	2.7	$	2.0	$	118.5	$	202.4

The Company evaluates the credit quality, loan performance, and the allowance for credit losses of its residential and consumer loan portfolios based primarily on the aging status of the loan and borrower payment activity. Accordingly, loans on nonaccrual status, loans past due 90 days or more and still accruing interest, and loans modified under troubled debt restructurings are considered nonperforming for purposes of credit quality evaluation. 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:

	June 30, 2022
	Term Loans Amortized Cost Basis by Origination Year
Risk by Collateral	2022		2021		2020		2019		2018		Prior		Revolving Loans Amortized Cost Basis		Total
Residential 1-4 family:
Performing	$	83.6	$	448.6	$	563.5	$	106.0	$	34.0	$	296.2	$	0.3	$	1,532.2
Nonperforming	—		—		0.1		0.1		0.3		2.3		—		2.8
Total	$	83.6	$	448.6	$	563.6	$	106.1	$	34.3	$	298.5	$	0.3	$	1,535.0
Consumer home equity and HELOC:
Performing	$	9.9	$	9.7	$	5.8	$	3.8	$	6.3	$	19.4	$	468.0	$	522.9
Nonperforming	0.3		0.4		—		0.1		0.2		1.4		0.1		2.5
Total	$	10.2	$	10.1	$	5.8	$	3.9	$	6.5	$	20.8	$	468.1	$	525.4
Consumer indirect:
Performing	$	164.9	$	218.8	$	162.1	$	79.8	$	46.2	$	60.1	$	—	$	731.9
Nonperforming	—		0.7		0.4		0.3		0.2		0.4		—		2.0
Total	$	164.9	$	219.5	$	162.5	$	80.1	$	46.4	$	60.5	$	—	$	733.9
Consumer direct and advance line:
Performing	$	31.7	$	41.4	$	24.7	$	12.6	$	9.6	$	11.3	$	25.9	$	157.2
Nonperforming	—		—		—		—		—		0.1		—		0.1
Total	$	31.7	$	41.4	$	24.7	$	12.6	$	9.6	$	11.4	$	25.9	$	157.3

	December 31, 2021
	Term Loans Amortized Cost Basis by Origination Year
Risk by Collateral	2021		2020		2019		2018		2017		Prior		Revolving Loans Amortized Cost Basis		Total
Residential 1-4 family:
Performing	$	360.9	$	477.0	$	74.7	$	27.5	$	25.7	$	176.5	$	—	$	1,142.3
Nonperforming	—		0.3		—		—		0.2		0.8		—		1.3
Total	$	360.9	$	477.3	$	74.7	$	27.5	$	25.9	$	177.3	$	—	$	1,143.6
Consumer home equity and HELOC:
Performing	$	11.1	$	7.0	$	3.7	$	4.8	$	3.6	$	12.0	$	350.7	$	392.9
Nonperforming	0.3		—		0.3		—		0.6		0.5		—		1.7
Total	$	11.4	$	7.0	$	4.0	$	4.8	$	4.2	$	12.5	$	350.7	$	394.6
Consumer indirect:
Performing	$	272.6	$	208.6	$	108.3	$	64.0	$	37.0	$	45.0	$	—	$	735.5
Nonperforming	0.5		0.5		0.4		0.2		0.1		0.4		—		2.1
Total	$	273.1	$	209.1	$	108.7	$	64.2	$	37.1	$	45.4	$	—	$	737.6
Consumer direct and advance line:
Performing	$	42.5	$	27.9	$	15.0	$	13.3	$	5.8	$	7.6	$	16.9	$	129.0
Nonperforming	0.1		—		—		0.1		—		—		—		0.2
Total	$	42.6	$	27.9	$	15.0	$	13.4	$	5.8	$	7.6	$	16.9	$	129.2

While the Company considers the performance of the loan portfolio on the allowance for credit losses, for certain credit card loan classes, the Company also evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity of the credit card holder. The following table presents the recorded investment in credit card loans based on payment activity for the periods indicated:

As of June 30, 2022	Consumer		Commercial		Agricultural		Total
Credit Card:
Performing	$	74.5	$	114.9	$	2.0	$	191.4
Nonperforming	0.3		0.5		—		0.8
Total credit card	$	74.8	$	115.4	$	2.0	$	192.2

As of December 31, 2021	Consumer		Commercial		Agricultural		Total
Credit Card:
Performing	$	64.4	$	73.1	$	1.5	$	139.0
Nonperforming	0.5		0.1		—		0.6
Total credit card	$	64.9	$	73.2	$	1.5	$	139.6

In the normal course of business, there were no material purchases of portfolio loans and no material sales of loans held for investment during the three and the six months ended June 30, 2022 or 2021.