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SECURITIES (Tables)
 3 Months Ended
Mar. 31, 2024
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, 2024, and December 31, 2023, are summarized in the table below, in thousands:
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair
Value
March 31, 2024    
U.S. treasuries$32,481 $— $(259)$32,222 
U.S. agencies14,084 — (192)13,892 
Obligations of states and political subdivisions836,830 5 (109,344)727,491 
Mortgage-backed securities - agency1,590,782 13 (231,254)1,359,541 
Mortgage-backed securities - non-agency1,542,986 37 (85,225)1,457,798 
Commercial mortgage-backed securities - agency75,782 — (11,708)64,074 
Commercial mortgage-backed securities - non-agency436,274 — (10,180)426,094 
Asset-backed securities214,676 — (17,568)197,108 
Corporate bonds121,108 — (2,407)118,701 
Total debt securities4,865,003 55 (468,137)4,396,921 
Equity securities with a readily determinable fair value21,301 — — 21,301 
Total$4,886,304 $55 $(468,137)$4,418,222 
December 31, 2023
U.S. treasuries$32,459 $— $(341)$32,118 
U.S. agencies14,724 — (194)14,530 
Obligations of states and political subdivisions839,754 25 (98,534)741,245 
Mortgage-backed securities - agency1,620,409 13 (226,793)1,393,629 
Mortgage-backed securities - non-agency1,616,414 363 (87,649)1,529,128 
Commercial mortgage-backed securities - agency76,076 — (11,288)64,788 
Commercial mortgage-backed securities - non-agency526,974 — (12,116)514,858 
Asset-backed securities232,140 — (14,770)217,370 
Corporate bonds120,338 — (2,169)118,169 
Total debt securities5,079,288 401 (453,854)4,625,835 
Equity securities with a readily determinable fair value21,056 — — 21,056 
Total$5,100,344 $401 $(453,854)$4,646,891 
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, 2024, and December 31, 2023, are summarized in the table below, in thousands:
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair
Value
March 31, 2024    
Obligations of states and political subdivisions$841,055 $3,158 (30,461)$813,752 
Total$841,055 $3,158 $(30,461)$813,752 
December 31, 2023
Obligations of states and political subdivisions$838,241 $3,622 $(25,464)$816,399 
Total$838,241 $3,622 $(25,464)$816,399 
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, 2024
Obligations of states and political subdivisions$51,881 $(1,347)13 $670,921 $(29,114)141 $722,802 $(30,461)154 
Total temporarily impaired securities$51,881 (1,347)13 $670,921 $(29,114)141 $722,802 (30,461)154 
December 31, 2023
Obligations of states and political subdivisions$145,471 $(3,706)23 $569,691 $(21,758)126 $715,162 $(25,464)149 
Total temporarily impaired securities$145,471 $(3,706)23 $569,691 $(21,758)126 $715,162 $(25,464)149 
Investments Classified by Contractual Maturity Date
The amortized cost and estimated fair value of investment securities carried at fair value at March 31, 2024, 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, 2024
Amortized CostEstimated Fair Value
Due in 1 year or less$25,192 $25,066 
Due in 1 to 5 years62,702 61,628 
Due in 5 to 10 years21,452 19,054 
Due after 10 years895,157 786,558 
Total debt securities1,004,503 892,306 
Mortgage and asset-backed securities3,860,500 3,504,615 
Equity securities with a readily determinable fair value 21,301 21,301 
Total investment securities$4,886,304 $4,418,222 

The amortized cost and estimated fair value of debt securities held to maturity at March 31, 2024, 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, 2024
Amortized CostEstimated Fair Value
Due in 1 year or less$8,147 $8,149 
Due in 1 to 5 years91,287 90,939 
Due in 5 to 10 years207,209 204,220 
Due after 10 years534,412 510,444 
Total debt securities$841,055 $813,752 
Schedule of Realized Gross Gains (Losses)
Gross gains and losses realized related to the sales of securities carried at fair value for the three months ended March 31, 2024 and 2023, are summarized as follows, in thousands:
Three Months Ended
March 31,
20242023
Proceeds from sales$— $146,448 
Gross security gains— — 
Gross security losses— 1,104 
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, 2024, and December 31, 2023. 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, 2023, and December 31, 2023, 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, 2024
U.S. treasuries$2,975 $(20)1 $29,247 $(239)4 $32,222 $(259)5 
U.S. agencies— — — 13,892 (192)4 13,892 (192)4 
Obligations of states and political subdivisions1,689 (16)3 721,778 (109,328)148 723,467 (109,344)151 
Mortgage-backed securities - agency— — — 1,358,884 (231,254)166 1,358,884 (231,254)166 
Mortgage-backed securities - non-agency395,105 (22,829)12 880,665 (62,396)35 1,275,770 (85,225)47 
Commercial mortgage-backed securities - agency— — — 64,074 (11,708)17 64,074 (11,708)17 
Commercial mortgage-backed securities - non-agency7,735 (78)1 418,359 (10,102)16 426,094 (10,180)17 
Asset-backed securities132,551 (12,303)4 64,557 (5,265)7 197,108 (17,568)11 
Corporate bonds61,403 (510)1 57,298 (1,897)8 118,701 (2,407)9 
Total temporarily impaired securities$601,458 $(35,756)22 $3,608,754 $(432,381)405 $4,210,212 $(468,137)427 
December 31, 2023
U.S. treasuries$2,985 $(12)1 $26,138 $(329)3 $29,123 $(341)4 
U.S. agencies— — — 14,530 (194)4 14,530 (194)4 
Obligations of states and political subdivisions1,440 (65)1 736,653 (98,469)150 738,093 (98,534)151 
Mortgage-backed securities - agency194 (2)2 1,392,769 (226,791)166 1,392,963 (226,793)168 
Mortgage-backed securities - non-agency415,934 (24,568)12 902,291 (63,081)35 1,318,225 (87,649)47 
Commercial mortgage-backed securities - agency— — — 64,788 (11,288)17 64,788 (11,288)17 
Commercial mortgage-backed securities - non-agency— — — 507,044 (12,116)16 507,044 (12,116)16 
Asset-backed securities148,063 (9,723)4 69,307 (5,047)7 217,370 (14,770)11 
Corporate bonds61,031 (111)1 57,138 (2,058)8 118,169 (2,169)9 
Total temporarily impaired securities$629,647 $(34,481)21 $3,770,658 $(419,373)406 $4,400,305 $(453,854)427 
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, 2024, and December 31, 2023, which are updated quarterly and used to monitor the credit quality of the securities:
March 31, 2024December 31, 2023
Rating
AAA$88,849 $88,550 
AA, AA+, AA-575,331 583,816 
A+, A, A-150,409 139,658 
BBB20,111 20,133 
Not Rated6,355 6,084 
Total $841,055 $838,241 
The following table shows the risk category of loans by loan category, year of origination and charge-offs as of March 31, 2024, in thousands:
As of March 31, 2024Amortized Cost Basis of Term Loans by Year of Origination
202420232022202120202019 and PriorRevolvingTotal
Commercial and industrial
Pass$85,028 $592,529 $710,480 $286,818 $163,724 $374,702 $1,122,778 $3,336,059 
Watch 13,514 20,205 16,882 12,357 1,657 3,862 31,468 99,945 
Substandard 267 18,289 20,161 3,011 5,439 11,091 50,789 109,047 
Commercial and industrial total$98,809 $631,023 $747,523 $302,186 $170,820 $389,655 $1,205,035 $3,545,051 
Commercial and industrial charge-offs$— $8 $766 $50 $511 $26 $936 $2,297 
As of March 31, 2024Amortized Cost Basis of Term Loans by Year of Origination
202420232022202120202019 and PriorRevolvingTotal
PPP
Pass$— $— $— $1,877 $41 $— $— $1,918 
Watch— — — 254 — — — 254 
Substandard— — — — — — — — 
PPP total $— $— $— $2,131 $41 $— $— $2,172 
PPP charge-offs$— $— $— $— $— $— $— $— 
Owner occupied commercial real estate
Pass$83,691 $406,814 $532,653 $728,430 $209,476 $413,348 $43,734 $2,418,146 
Watch— 3,924 30,954 8,071 3,802 12,888 — 59,639 
Substandard— 23,469 13,465 2,256 20,279 7,779 — 67,248 
Owner occupied commercial real estate total$83,691 $434,207 $577,072 $738,757 $233,557 $434,015 $43,734 $2,545,033 
Owner occupied commercial real estate charge-offs$— $— $— $— $— $— $— $— 
Non-owner occupied commercial real estate
Pass$14,376 $459,002 $661,486 $423,897 $184,310 $465,008 $16,824 $2,224,903 
Watch4,917 66,454 34,504 4,320 3,987 91,904 5,122 211,208 
Substandard— 5,043 — 8,648 — 45,266 — 58,957 
Non-owner occupied commercial real estate total$19,293 $530,499 $695,990 $436,865 $188,297 $602,178 $21,946 $2,495,068 
Non-owner occupied commercial real estate charge-offs$— $— $— $— $— $— $— $— 
Real estate construction
Pass$12,901 $308,707 $410,479 $121,769 $7,877 $11,397 $7,544 $880,674 
Watch — 708 70,775 51,157 107 — — 122,747 
Substandard— 9,006 28,989 — — 81 86 38,162 
Real estate construction total$12,901 $318,421 $510,243 $172,926 $7,984 $11,478 $7,630 $1,041,583 
Real estate construction charge-offs$— $— $— $— $— $— $— $— 
Agricultural and agricultural real estate
Pass$17,192 $121,110 $182,587 $103,742 $54,124 $62,884 $220,613 $762,252 
Watch340 3,738 1,546 744 723 49 2,444 9,584 
Substandard— 160 22,825 1,506 4 12,698 847 38,040 
Agricultural and agricultural real estate total$17,532 $125,008 $206,958 $105,992 $54,851 $75,631 $223,904 $809,876 
Agricultural and agricultural real estate charge-offs$— $— $— $— $— $167 $100 $267 
Residential real estate
Pass$13,804 $65,266 $167,944 $223,447 $70,074 $183,684 $17,444 $741,663 
Watch3 176 146 935 686 3,704 252 5,902 
Substandard— 727 145 3,358 427 3,799 — 8,456 
Residential real estate total $13,807 $66,169 $168,235 $227,740 $71,187 $191,187 $17,696 $756,021 
Residential real estate charge-offs$— $— $— $— $— $— $— $— 
Consumer
Pass$8,163 $40,081 $53,661 $31,283 $4,008 $7,704 $295,533 $440,433 
Watch— 749 175 94 612 962 2,528 5,120 
Substandard191 91 202 403 1,117 1,331 949 4,284 
Consumer total$8,354 $40,921 $54,038 $31,780 $5,737 $9,997 $299,010 $449,837 
Consumer charge-offs$— $30 $76 $44 $10 $29 $1,340 $1,529 
As of March 31, 2024Amortized Cost Basis of Term Loans by Year of Origination
202420232022202120202019 and PriorRevolvingTotal
Total Pass$235,155 $1,993,509 $2,719,290 $1,921,263 $693,634 $1,518,727 $1,724,470 $10,806,048 
Total Watch18,774 95,954 154,982 77,932 11,574 113,369 41,814 514,399 
Total Substandard 458 56,785 85,787 19,182 27,266 82,045 52,671 324,194 
Total Loans$254,387 $2,146,248 $2,960,059 $2,018,377 $732,474 $1,714,141 $1,818,955 $11,644,641 
Total charge-offs$— $38 $842 $94 $521 $222 $2,376 $4,093 

The following table shows the risk category of loans by loan category and year of origination as of December 31, 2023, in thousands.
As of December 31, 2023Amortized Cost Basis of Term Loans by Year of Origination
202320222021202020192018 and PriorRevolvingTotal
Commercial and industrial
Pass$608,030 $779,218 $333,900 $187,406 $78,455 $327,775 $1,159,397 $3,474,181 
Watch 20,694 19,788 257 3,631 2,398 2,953 28,749 78,470 
Substandard 20,171 12,658 2,636 5,447 18,535 7,489 32,460 99,396 
Commercial and industrial total$648,895 $811,664 $336,793 $196,484 $99,388 $338,217 $1,220,606 $3,652,047 
Commercial and industrial charge-offs245 794 680 1,425 563 1,949 2,966 8,622 
PPP
Pass$— $— $2,591 $50 $— $— $— $2,641 
Watch— — 89 — — — — 89 
Substandard— — 47 — — — — 47 
PPP total $— $— $2,727 $50 $— $— $— $2,777 
PPP charge-offs— — — — — — — — 
Owner occupied commercial real estate
Pass$443,683 $547,898 $799,978 $225,257 $225,405 $224,608 $41,072 $2,507,901 
Watch8,052 25,947 13,114 2,662 8,115 7,553 — 65,443 
Substandard31,904 10,489 2,268 11,609 6,390 2,171 — 64,831 
Owner occupied commercial real estate total$483,639 $584,334 $815,360 $239,528 $239,910 $234,332 $41,072 $2,638,175 
Owner occupied commercial real estate charge-offs— 802 — 5 — 63 — 870 
Non-owner occupied commercial real estate
Pass$480,683 $656,824 $423,420 $203,330 $262,541 $251,499 $26,978 $2,305,275 
Watch71,400 34,651 8,237 3,834 27,345 57,083 — 202,550 
Substandard5,043 952 1,391 — 4,238 34,262 — 45,886 
Non-owner occupied commercial real estate total$557,126 $692,427 $433,048 $207,164 $294,124 $342,844 $26,978 $2,553,711 
Non-owner occupied commercial real estate charge-offs— 52 — 29 399 147 — 627 
Real estate construction
Pass$283,519 $468,646 $176,604 $9,889 $11,048 $3,405 $6,486 $959,597 
Watch 629 33,220 9,418 72 — 65 — 43,404 
Substandard— 8,522 — 107 — — 86 8,715 
As of December 31, 2023Amortized Cost Basis of Term Loans by Year of Origination
202320222021202020192018 and PriorRevolvingTotal
Real estate construction total$284,148 $510,388 $186,022 $10,068 $11,048 $3,470 $6,572 $1,011,716 
Real estate construction charge-offs284 — — 32 — — — 316 
Agricultural and agricultural real estate
Pass$152,665 $208,375 $114,798 $67,006 $28,247 $43,663 $260,941 $875,695 
Watch2,245 16,257 293 622 70 349 427 20,263 
Substandard12 7,616 1,649 4 855 12,591 499 23,226 
Agricultural and agricultural real estate total$154,922 $232,248 $116,740 $67,632 $29,172 $56,603 $261,867 $919,184 
Agricultural and agricultural real estate charge-offs— — — 9 — 1 5,309 5,319 
Residential real estate
Pass$71,470 $177,564 $241,362 $73,029 $42,526 $155,899 $19,534 $781,384 
Watch171 973 945 659 158 4,845 — 7,751 
Substandard741 150 3,400 464 290 3,649 — 8,694 
Residential real estate total $72,382 $178,687 $245,707 $74,152 $42,974 $164,393 $19,534 $797,829 
Residential real estate charge-offs— 59 124 — — — — 183 
Consumer
Pass$45,595 $62,900 $35,459 $7,731 $3,663 $6,109 $324,218 $485,675 
Watch730 84 694 21 41 644 2,060 4,274 
Substandard80 308 401 75 159 1,769 465 3,257 
Consumer total$46,405 $63,292 $36,554 $7,827 $3,863 $8,522 $326,743 $493,206 
Consumer charge-offs2 246 154 27 19 112 3,117 3,677 
Total Pass$2,085,645 $2,901,425 $2,128,112 $773,698 $651,885 $1,012,958 $1,838,626 $11,392,349 
Total Watch103,921 130,920 33,047 11,501 38,127 73,492 31,236 422,244 
Total Substandard 57,951 40,695 11,792 17,706 30,467 61,931 33,510 254,052 
Total Loans$2,247,517 $3,073,040 $2,172,951 $802,905 $720,479 $1,148,381 $1,903,372 $12,068,645 
Total charge-offs$531 $1,953 $958 $1,527 $981 $2,272 $11,392 $19,614