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SECURITIES (Tables)
 3 Months Ended
Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available for Sale Securities
The amortized cost, gross unrealized gains and losses, and estimated fair values of debt securities available for sale and equity securities with a readily determinable fair value that are carried at fair value as of March 31, 2022, and December 31, 2021, are summarized in the table below, in thousands:
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair
Value
March 31, 2022    
U.S. treasuries$998 $3 $— $1,001 
U.S. agencies89,827 24 (3,742)86,109 
Obligations of states and political subdivisions1,808,169 274 (170,526)1,637,917 
Mortgage-backed securities - agency2,264,657 1,510 (138,004)2,128,163 
Mortgage-backed securities - non-agency2,071,559 4,529 (62,152)2,013,936 
Commercial mortgage-backed securities - agency127,563 107 (9,115)118,555 
Commercial mortgage-backed securities - non-agency699,703 — (5,740)693,963 
Asset-backed securities321,155 320 (4,055)317,420 
Corporate bonds7,723 33 (108)7,648 
Total debt securities7,391,354 6,800 (393,442)7,004,712 
Equity securities with a readily determinable fair value20,531 — — 20,531 
Total$7,411,885 $6,800 $(393,442)$7,025,243 
December 31, 2021
U.S. treasuries$997 $11 $— $1,008 
U.S. agencies193,932 264 (812)193,384 
Obligations of states and political subdivisions2,045,386 56,263 (16,616)2,085,033 
Mortgage-backed securities - agency2,388,601 11,870 (51,182)2,349,289 
Mortgage-backed securities - non-agency1,749,838 4,570 (11,029)1,743,379 
Commercial mortgage-backed securities - agency125,397 1,429 (2,914)123,912 
Commercial mortgage-backed securities - non-agency600,253 998 (363)600,888 
Asset-backed securities408,167 2,803 (1,317)409,653 
Corporate bonds2,979 61 — 3,040 
Total debt securities7,515,550 78,269 (84,233)7,509,586 
Equity securities with a readily determinable fair value20,788 — — 20,788 
Total$7,536,338 $78,269 $(84,233)$7,530,374 
Schedule of Held to Maturity Securities
The amortized cost, gross unrealized gains and losses and estimated fair values of held to maturity securities as of March 31, 2022, and December 31, 2021, are summarized in the table below, in thousands:
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair
Value		Allowance for Credit Losses
March 31, 2022    
Obligations of states and political subdivisions$81,785 $4,714 $(13)$86,486 $— 
Total$81,785 $4,714 $(13)$86,486 $— 
December 31, 2021
Obligations of states and political subdivisions$84,709 $9,430 $— $94,139 $— 
Total$84,709 $9,430 $— $94,139 $— 
Securities held to maturityLess than 12 months12 months or longerTotal
Fair
Value		Unrealized
Losses		CountFair
Value		Unrealized
Losses		CountFair
Value		Unrealized
Losses		Count
March 31, 2022
Obligations of states and political subdivisions$1,590 $(13)2 $— $— — $1,590 $(13)2 
Total temporarily impaired securities$1,590 (13)2 2$— $— — $1,590 (13)2 
Investments Classified by Contractual Maturity Date
The amortized cost and estimated fair value of investment securities carried at fair value at March 31, 2022, by contractual maturity, are as follows, in thousands. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without penalties.
March 31, 2022
Amortized CostEstimated Fair Value
Due in 1 year or less$1,328 $1,333 
Due in 1 to 5 years10,563 10,440 
Due in 5 to 10 years142,958 132,583 
Due after 10 years1,751,868 1,588,319 
Total debt securities1,906,717 1,732,675 
Mortgage and asset-backed securities5,484,637 5,272,037 
Equity securities with a readily determinable fair value 20,531 20,531 
Total investment securities$7,411,885 $7,025,243 

The amortized cost and estimated fair value of debt securities held to maturity at March 31, 2022, by contractual maturity, are as follows, in thousands. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without penalties.
March 31, 2022
Amortized CostEstimated Fair Value
Due in 1 year or less$4,095 $4,104 
Due in 1 to 5 years37,309 37,998 
Due in 5 to 10 years34,300 36,918 
Due after 10 years6,081 7,466 
Total debt securities81,785 86,486 
Schedule of Realized Gross Gains (Losses)
Gross gains and losses realized related to the sales of securities carried at fair value for the three months ended March 31, 2022 and 2021, are summarized as follows, in thousands:
Three Months Ended
March 31,
20222021
Proceeds from sales$824,071 $207,067 
Gross security gains6,941 445 
Gross security losses4,950 475 
Schedule of Debt Securities Available-for-sale The following table summarizes, in thousands, the amount of unrealized losses, defined as the amount by which cost or amortized cost exceeds fair value, and the related fair value of investments with unrealized losses in the securities portfolio as of March 31, 2022, and December 31, 2021. The investments were segregated into two categories: those that have been in a continuous unrealized loss position for less than 12 months and those that have been in a continuous unrealized loss position for
12 months or more. The reference point for determining how long an investment was in an unrealized loss position was March 31, 2021, and December 31, 2020, respectively.
Debt securities available for saleLess than 12 months12 months or longerTotal
 Fair
Value		Unrealized
Losses		CountFair
Value		Unrealized
Losses		CountFair
Value		Unrealized
Losses		Count
March 31, 2022
U.S. agencies$66,819 $(1,701)8 $17,475 $(2,041)1 $84,294 $(3,742)9 
Obligations of states and political subdivisions1,321,666 (124,133)305 297,576 (46,393)69 1,619,242 (170,526)374 
Mortgage-backed securities - agency1,439,275 (82,994)311 617,833 (55,010)40 2,057,108 (138,004)351 
Mortgage-backed securities - non-agency1,288,511 (58,783)154 93,072 (3,369)7 1,381,583 (62,152)161 
Commercial mortgage-backed securities - agency47,449 (2,204)18 57,260 (6,911)7 104,709 (9,115)25 
Commercial mortgage-backed securities - non-agency621,766 (5,526)61 14,030 (214)2 635,796 (5,740)63 
Asset-backed securities98,835 (3,882)18 9,299 (173)4 108,134 (4,055)22 
Corporate bonds5,613 (108)3 — — — 5,613 (108)3 
Total temporarily impaired securities$4,889,934 $(279,331)878 $1,106,545 $(114,111)130 $5,996,479 $(393,442)1,008 
December 31, 2021
U.S. agencies$100,839 $(812)2 $— $— — $100,839 $(812)2 
Obligations of states and political subdivisions596,866 (10,115)113 236,329 (6,501)49 833,195 (16,616)162 
Mortgage-backed securities - agency1,383,808 (33,291)83 474,724 (17,891)19 1,858,532 (51,182)102 
Mortgage-backed securities - non-agency929,515 (10,870)27 23,821 (159)5 953,336 (11,029)32 
Commercial mortgage-backed securities - agency26,999 (689)8 53,025 (2,225)5 80,024 (2,914)13 
Commercial mortgage-backed securities - non-agency74,450 (145)3 14,124 (218)2 88,574 (363)5 
Asset-backed securities113,945 (1,201)6 13,799 (116)6 127,744 (1,317)12 
Total temporarily impaired securities$3,226,422 $(57,123)242 $815,822 $(27,110)86 $4,042,244 $(84,233)328 
Schedule of Debt Securities, Held-to-maturity, Allowance for Credit Loss The following tables present, in thousands, the activity in the allowance for credit losses for securities held to maturity by obligations of states and political subdivisions securities for the three months ended March 31, 2022 and 2021:
Three Months Ended
March 31,
20222021
Beginning balance$— $51 
Provision (benefit) for credit losses— (3)
Balance at period end$— $48 
Schedule of Financing Receivable Credit Quality Indicators
The following table summarizes, in thousands, the carrying amount of HTLF's held to maturity debt securities by investment rating as of March 31, 2022 and December 31, 2021, which are updated quarterly and used to monitor the credit quality of the securities:
March 31, 2022December 31, 2021
Rating
AAA$3,294 $3,265 
AA, AA+, AA-54,944 61,471 
A+, A, A-18,626 15,034 
BBB4,921 4,939 
Not Rated— — 
Total $81,785 $84,709 
The following tables show the risk category of loans by loan category and year of origination as of March 31, 2022, and December 31, 2021, in thousands:
As of March 31, 2022Amortized Cost Basis of Term Loans by Year of Origination
202220212020201920182017 and PriorRevolvingTotal
Commercial and industrial
Pass$282,325 $563,865 $321,463 $142,201 $82,846 $490,118 $771,746 $2,654,564 
Watch 1,133 12,201 10,346 9,644 6,049 3,309 28,376 71,058 
Substandard 2,512 14,886 5,700 12,662 7,939 16,922 28,270 88,891 
Commercial and industrial total$285,970 $590,952 $337,509 $164,507 $96,834 $510,349 $828,392 $2,814,513 
PPP
Pass$— $60,429 $4,463 $— $— $— $— $64,892 
Watch— 1,797 31 — — — — 1,828 
Substandard— 7,326 19 — — — — 7,345 
PPP total $— $69,552 $4,513 $— $— $— $— $74,065 
Owner occupied commercial real estate
Pass$186,033 $896,361 $312,517 $306,341 $148,493 $275,086 $20,300 $2,145,131 
Watch2,944 6,266 17,523 6,524 8,556 10,802 35 52,650 
Substandard3,373 11,363 9,387 12,087 3,553 26,782 1,750 68,295 
Owner occupied commercial real estate total$192,350 $913,990 $339,427 $324,952 $160,602 $312,670 $22,085 $2,266,076 
Non-owner occupied commercial real estate
Pass$238,611 $602,044 $257,093 $330,145 $211,111 $286,939 $31,114 $1,957,057 
Watch206 2,757 11,098 26,639 20,512 38,483 — 99,695 
Substandard2,807 12,768 9,148 20,609 1,821 57,856 — 105,009 
Non-owner occupied commercial real estate total$241,624 $617,569 $277,339 $377,393 $233,444 $383,278 $31,114 $2,161,761 
Real estate construction
Pass$117,525 $378,301 $149,415 $98,294 $14,036 $9,362 $15,009 $781,942 
Watch — 3,058 1,033 — 44,468 3,697 13 52,269 
Substandard— 2,548 49 486 5,098 91 — 8,272 
Real estate construction total$117,525 $383,907 $150,497 $98,780 $63,602 $13,150 $15,022 $842,483 
Agricultural and agricultural real estate
Pass$72,343 $195,360 $97,315 $45,549 $29,107 $49,812 $215,800 $705,286 
Watch421 3,694 5,630 2,051 2,002 2,739 3,126 19,663 
Substandard880 7,186 943 3,747 14,517 8,633 5,588 41,494 
Agricultural and agricultural real estate total$73,644 $206,240 $103,888 $51,347 $45,626 $61,184 $224,514 $766,443 
Residential real estate
Pass$59,105 $303,926 $78,252 $46,766 $44,833 $246,933 $23,456 $803,271 
Watch— 484 157 736 1,435 6,915 — 9,727 
Substandard101 2,036 385 42 1,984 7,696 — 12,244 
Residential real estate total $59,206 $306,446 $78,794 $47,544 $48,252 $261,544 $23,456 $825,242 
Consumer
Pass$17,097 $59,774 $17,754 $11,299 $7,365 $26,551 $279,886 $419,726 
Watch3 472 73 332 366 664 1,784 3,694 
Substandard31 222 306 161 248 2,005 409 3,382 
Consumer total$17,131 $60,468 $18,133 $11,792 $7,979 $29,220 $282,079 $426,802 
Total Pass$973,039 $3,060,060 $1,238,272 $980,595 $537,791 $1,384,801 $1,357,311 $9,531,869 
Total Watch4,707 30,729 45,891 45,926 83,388 66,609 33,334 310,584 
Total Substandard 9,704 58,335 25,937 49,794 35,160 119,985 36,017 334,932 
Total Loans$987,450 $3,149,124 $1,310,100 $1,076,315 $656,339 $1,571,395 $1,426,662 $10,177,385 
As of December 31, 2021Amortized Cost Basis of Term Loans by Year of Origination
202120202019201820172016 and PriorRevolvingTotal
Commercial and industrial
Pass$604,659 $359,533 $203,960 $89,694 $171,709 $330,094 $708,525 $2,468,174 
Watch 10,633 12,790 12,550 8,210 3,611 14,976 24,626 87,396 
Substandard 19,888 6,391 13,050 8,535 6,619 12,052 22,980 89,515 
Commercial and industrial total$635,180 $378,714 $229,560 $106,439 $181,939 $357,122 $756,131 $2,645,085 
PPP
Pass$146,370 $25,707 $— $— $— $— $— $172,077 
Watch10,726 127 — — — — — 10,853 
Substandard16,932 21 — — — — — 16,953 
PPP total $174,028 $25,855 $— $— $— $— $— $199,883 
Owner occupied commercial real estate
Pass$940,043 $328,052 $315,497 $180,936 $115,142 $189,647 $34,233 $2,103,550 
Watch4,676 13,956 7,759 10,501 15,032 6,830 35 58,789 
Substandard11,958 20,769 13,734 2,809 13,912 13,063 1,750 77,995 
Owner occupied commercial real estate total$956,677 $362,777 $336,990 $194,246 $144,086 $209,540 $36,018 $2,240,334 
Non-owner occupied commercial real estate
Pass$609,968 $263,093 $315,815 $236,823 $152,059 $166,792 $28,728 $1,773,278 
Watch4,754 9,109 35,496 29,227 4,865 35,901 — 119,352 
Substandard15,722 10,612 21,798 3,599 14,023 51,766 441 117,961 
Non-owner occupied commercial real estate total$630,444 $282,814 $373,109 $269,649 $170,947 $254,459 $29,169 $2,010,591 
Real estate construction
Pass$381,283 $206,879 $169,606 $14,197 $7,163 $7,823 $14,507 $801,458 
Watch 2,704 858 2,145 44,846 — — 14 50,567 
Substandard— 50 46 3,944 — 54 — 4,094 
Real estate construction total$383,987 $207,787 $171,797 $62,987 $7,163 $7,877 $14,521 $856,119 
Agricultural and agricultural real estate
Pass$217,179 $102,030 $47,927 $32,913 $22,029 $35,548 $220,065 $677,691 
Watch4,018 10,390 4,688 2,270 33 2,038 2,948 26,385 
Substandard9,250 1,095 4,910 15,825 3,212 8,859 6,526 49,677 
Agricultural and agricultural real estate total$230,447 $113,515 $57,525 $51,008 $25,274 $46,445 $229,539 $753,753 
Residential real estate
Pass$311,292 $86,355 $50,762 $53,773 $43,619 $230,566 $29,017 $805,384 
Watch3,928 1,499 750 1,452 734 1,977 1,000 11,340 
Substandard2,528 444 410 2,317 1,139 5,721 — 12,559 
Residential real estate total $317,748 $88,298 $51,922 $57,542 $45,492 $238,264 $30,017 $829,283 
Consumer
Pass$69,172 $20,258 $13,051 $9,001 $10,986 $18,202 $271,034 $411,704 
Watch555 309 392 373 113 591 2,210 4,543 
Substandard267 204 218 236 363 1,611 378 3,277 
Consumer total$69,994 $20,771 $13,661 $9,610 $11,462 $20,404 $273,622 $419,524 
Total Pass$3,279,966 $1,391,907 $1,116,618 $617,337 $522,707 $978,672 $1,306,109 $9,213,316 
Total Watch41,994 49,038 63,780 96,879 24,388 62,313 30,833 369,225 
Total Substandard 76,545 39,586 54,166 37,265 39,268 93,126 32,075 372,031 
Total Loans$3,398,505 $1,480,531 $1,234,564 $751,481 $586,363 $1,134,111 $1,369,017 $9,954,572