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SECURITIES (Tables)
 9 Months Ended
Sep. 30, 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 September 30, 2024, and December 31, 2023, are summarized in the table below, in thousands:
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair
Value
September 30, 2024    
U.S. treasuries$7,999 $12 $(48)$7,963 
U.S. agencies11,540 — (100)11,440 
Obligations of states and political subdivisions831,693 41 (91,110)740,624 
Mortgage-backed securities - agency1,529,857 54 (184,934)1,344,977 
Mortgage-backed securities - non-agency1,274,395 4,627 (42,326)1,236,696 
Commercial mortgage-backed securities - agency71,504 — (8,971)62,533 
Commercial mortgage-backed securities - non-agency394,298 28 (6,385)387,941 
Asset-backed securities129,896 — (7,166)122,730 
Corporate bonds122,444 — (2,130)120,314 
Total debt securities4,373,626 4,762 (343,170)4,035,218 
Equity securities with a readily determinable fair value22,117 — — 22,117 
Total$4,395,743 $4,762 $(343,170)$4,057,335 
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 September 30, 2024, and December 31, 2023, are summarized in the table below, in thousands:
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair
Value
September 30, 2024    
Obligations of states and political subdivisions$839,623 $9,913 (5,240)$844,296 
Total$839,623 $9,913 $(5,240)$844,296 
December 31, 2023
Obligations of states and political subdivisions$838,241 $3,622 $(25,464)$816,399 
Total$838,241 $3,622 $(25,464)$816,399 
Securities held to maturityLess than 12 months12 months or longerTotal
Fair
Value		Unrealized
Losses		CountFair
Value		Unrealized
Losses		CountFair
Value		Unrealized
Losses		Count
September 30, 2024
Obligations of states and political subdivisions$— $— — $359,221 $(5,240)66 $359,221 $(5,240)66 
Total temporarily impaired securities$— — — $359,221 $(5,240)66 $359,221 (5,240)66 
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 
Schedule of Investments Classified by Contractual Maturity Date
The amortized cost and estimated fair value of investment securities carried at fair value at September 30, 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.
September 30, 2024
Amortized CostEstimated Fair Value
Due in 1 year or less$6,008 $5,941 
Due in 1 to 5 years57,089 55,615 
Due in 5 to 10 years28,718 26,262 
Due after 10 years881,861 792,523 
Total debt securities973,676 880,341 
Mortgage and asset-backed securities3,399,950 3,154,877 
Equity securities with a readily determinable fair value 22,117 22,117 
Total investment securities$4,395,743 $4,057,335 

The amortized cost and estimated fair value of debt securities held to maturity at September 30, 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.
September 30, 2024
Amortized CostEstimated Fair Value
Due in 1 year or less$5,723 $5,770 
Due in 1 to 5 years96,350 97,899 
Due in 5 to 10 years223,032 227,641 
Due after 10 years514,518 512,986 
Total debt securities$839,623 $844,296 
Schedule of Realized Gross Gains (Losses)
Gross gains and losses realized related to the sales of securities carried at fair value for the three and nine months ended September 30, 2024 and 2023, are summarized as follows, in thousands:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Proceeds from sales$31,036 $44,457 $128,872 $331,196 
Gross security gains— 803 — 1,286 
Gross security losses9,299 744 19,855 2,656 
Schedule of Debt Securities Available-for-sale
The following table summarizes, in thousands, the amount of unrealized losses, defined as the amount by which cost or amortized cost exceeds fair value, and the related fair value of investments with unrealized losses in the securities portfolio as of September 30, 2024, and December 31, 2023. The investments were segregated into two categories: those that have been in a continuous unrealized loss position for less than 12 months and those that have been in a continuous unrealized loss position for 12 months or more. The reference point for determining how long an investment was in an unrealized loss position was September 30, 2023, and December 31, 2022, respectively.
Debt securities available for saleLess than 12 months12 months or longerTotal
 Fair
Value		Unrealized
Losses		CountFair
Value		Unrealized
Losses		CountFair
Value		Unrealized
Losses		Count
September 30, 2024
U.S. treasuries$— $— — $4,955 $(48)1 $4,955 $(48)1 
U.S. agencies— — — 11,440 (100)4 11,440 (100)4 
Obligations of states and political subdivisions1,690 (10)3 732,155 (91,100)146 733,845 (91,110)149 
Mortgage-backed securities - agency— — — 1,338,682 (184,934)158 1,338,682 (184,934)158 
Mortgage-backed securities - non-agency738 (7,756)1 666,901 (34,570)29 667,639 (42,326)30 
Commercial mortgage-backed securities - agency— — — 62,533 (8,971)15 62,533 (8,971)15 
Commercial mortgage-backed securities - non-agency7,708 (106)1 375,513 (6,279)13 383,221 (6,385)14 
Asset-backed securities91,131 (4,334)3 31,599 (2,832)4 122,730 (7,166)7 
Corporate bonds— — — 54,768 (2,130)6 54,768 (2,130)6 
Total temporarily impaired securities$101,267 $(12,206)8 $3,278,546 $(330,964)376 $3,379,813 $(343,170)384 
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 September 30, 2024, and December 31, 2023, which are updated quarterly and used to monitor the credit quality of the securities:
September 30, 2024December 31, 2023
Rating
AAA$99,869 $88,550 
AA, AA+, AA-562,582 583,816 
A+, A, A-149,549 139,658 
BBB19,762 20,133 
Not Rated7,861 6,084 
Total $839,623 $838,241 
The following table shows the risk category of loans by loan category, year of origination and charge-offs as of September 30, 2024, in thousands:
As of September 30, 2024Amortized Cost Basis of Term Loans by Year of Origination
202420232022202120202019 and PriorRevolvingTotal
Commercial and industrial
Pass$414,619 $408,974 $566,449 $244,760 $153,020 $343,559 $1,068,024 $3,199,405 
Watch 13,954 54,206 48,302 12,535 2,173 6,583 105,711 243,464 
Substandard 7,179 3,200 15,092 1,086 5,652 2,865 25,150 60,224 
Commercial and industrial total$435,752 $466,380 $629,843 $258,381 $160,845 $353,007 $1,198,885 $3,503,093 
Commercial and industrial charge-offs$— $28 $14,391 $813 $3,299 $2,358 $9,328 $30,217 
PPP
Pass$— $— $— $1,402 $22 $— $— $1,424 
Watch— — — 158 — — — 158 
Substandard— — — — — — — — 
PPP total $— $— $— $1,560 $22 $— $— $1,582 
PPP charge-offs$— $— $— $— $— $— $— $— 
Owner occupied commercial real estate
Pass$118,081 $397,969 $480,966 $698,709 $200,112 $345,593 $38,270 $2,279,700 
Watch6,316 5,595 67,107 1,421 2,811 41,544 3,346 128,140 
Substandard— 23,318 30,964 2,764 10,547 14,264 — 81,857 
Owner occupied commercial real estate total$124,397 $426,882 $579,037 $702,894 $213,470 $401,401 $41,616 $2,489,697 
Owner occupied commercial real estate charge-offs$— $— $87 $— $247 $88 $— $422 
Non-owner occupied commercial real estate
Pass$112,658 $462,424 $626,077 $381,385 $169,602 $438,111 $16,734 $2,206,991 
Watch11,021 65,250 61,380 20,632 2,825 27,428 — 188,536 
Substandard720 — 134 8,149 362 50,504 — 59,869 
Non-owner occupied commercial real estate total$124,399 $527,674 $687,591 $410,166 $172,789 $516,043 $16,734 $2,455,396 
Non-owner occupied commercial real estate charge-offs$— $— $— $— $— $— $— $— 
As of September 30, 2024Amortized Cost Basis of Term Loans by Year of Origination
202420232022202120202019 and PriorRevolvingTotal
Real estate construction
Pass$126,889 $343,871 $374,867 $81,057 $7,059 $8,969 $6,850 $949,562 
Watch — — 40,782 63,207 166 — — 104,155 
Substandard— 9,375 56,656 11 12 65 86 66,205 
Real estate construction total$126,889 $353,246 $472,305 $144,275 $7,237 $9,034 $6,936 $1,119,922 
Real estate construction charge-offs$— $— $— $— $— $— $— $— 
Agricultural and agricultural real estate
Pass$74,398 $109,176 $175,308 $92,490 $48,115 $49,247 $117,190 $665,924 
Watch188 1,940 807 273 31 802 7,012 11,053 
Substandard731 1,136 8,610 1,619 121 12,017 — 24,234 
Agricultural and agricultural real estate total$75,317 $112,252 $184,725 $94,382 $48,267 $62,066 $124,202 $701,211 
Agricultural and agricultural real estate charge-offs$— $12 $9,321 $17 $12 $167 $648 $10,177 
Residential real estate
Pass$34,859 $56,401 $145,289 $209,388 $61,100 $162,320 $18,401 $687,758 
Watch44 1,841 1,174 1,457 2,479 4,545 171 11,711 
Substandard— 773 833 3,161 366 3,382 — 8,515 
Residential real estate total $34,903 $59,015 $147,296 $214,006 $63,945 $170,247 $18,572 $707,984 
Residential real estate charge-offs$— $— $— $— $— $182 $— $182 
Consumer
Pass$27,040 $33,375 $48,793 $27,657 $2,780 $6,461 $307,812 $453,918 
Watch353 663 366 141 20 862 2,248 4,653 
Substandard169 158 254 182 190 1,283 1,225 3,461 
Consumer total$27,562 $34,196 $49,413 $27,980 $2,990 $8,606 $311,285 $462,032 
Consumer charge-offs$12 $95 $183 $245 $17 $86 $1,982 $2,620 
Total Pass$908,544 $1,812,190 $2,417,749 $1,736,848 $641,810 $1,354,260 $1,573,281 $10,444,682 
Total Watch31,876 129,495 219,918 99,824 10,505 81,764 118,488 691,870 
Total Substandard 8,799 37,960 112,543 16,972 17,250 84,380 26,461 304,365 
Total Loans$949,219 $1,979,645 $2,750,210 $1,853,644 $669,565 $1,520,404 $1,718,230 $11,440,917 
Total charge-offs$12 $135 $23,982 $1,075 $3,575 $2,881 $11,958 $43,618 

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-offs$245 $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 $— $— $— $2,777 
PPP charge-offs$— $— $— $— $— $— $— $— 
As of December 31, 2023Amortized Cost Basis of Term Loans by Year of Origination
202320222021202020192018 and PriorRevolvingTotal
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 
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-offs$284 $— $— $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-offs$2 $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