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LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables)
 9 Months Ended
Sep. 30, 2024
Receivables [Abstract]  
Schedule of Composition of Loan Portfolio
The following table shows the composition of the loan portfolio:
($ in thousands)September 30, 2024December 31, 2023
Loans held for sale
Mortgage loans held for sale$2,987 $2,914 
Total LHFS$2,987 $2,914 
Loans held for investment
Commercial, financial and agriculture (1)$748,664 $800,324 
Commercial real estate3,235,566 3,059,155 
Consumer real estate1,287,144 1,252,795 
Consumer installment47,216 57,768 
Total loans5,318,590 5,170,042 
Less allowance for credit losses(55,700)(54,032)
Net LHFI$5,262,890 $5,116,010 
____________________________________________________________
(1)
Loan balance includes $256 thousand and $386 thousand in Paycheck Protection Program (“PPP”) loans as of September 30, 2024 and December 31, 2023, respectively.
Schedule of Company's Loans that are Past Due and Nonaccrual Loans Including PCD Loans
The following tables present the aging of the amortized cost basis in past due loans in addition to those loans classified as nonaccrual including purchase credit deteriorated (“PCD”) loans:
($ in thousands)September 30, 2024
Past Due
30 to 89
Days		Past Due
90 Days
or More and
Still Accruing		NonaccrualPCDTotal
Past Due,
Nonaccrual
and PCD		Total
LHFI		Nonaccrual
and PCD
with No ACL
Commercial, financial and agriculture (1)$2,660 $527 $667 $342 $4,196 $748,664 $270 
Commercial real estate3,962 — 8,387 456 12,805 3,235,566 837 
Consumer real estate7,440 928 3,709 2,609 14,686 1,287,144 1,643 
Consumer installment245 — 114 — 359 47,216 13 
Total$14,307 $1,455 $12,877 $3,407 $32,046 $5,318,590 $2,763 
___________________________________________________________
(1)
Total loan balance includes $256 thousand in PPP loans as of September 30, 2024.
December 31, 2023
($ in thousands)Past Due
30 to 89
Days		Past Due 90
Days or
More and
Still Accruing		NonaccrualPCDTotal
Past Due,
Nonaccrual
and PCD		Total
LHFI		Nonaccrual
and PCD
with No ACL
Commercial, financial and agriculture (1)$2,043 $313 $353 $965 $3,674 $800,324 $465 
Commercial real estate1,698 630 3,790 647 6,765 3,059,155 410 
Consumer real estate3,992 220 1,806 3,098 9,116 1,252,795 680 
Consumer installment180 — 31 — 211 57,768 — 
Total$7,913 $1,163 $5,980 $4,710 $19,766 $5,170,042 $1,555 
___________________________________________________________
(1)
Total loan balance includes $386 thousand in PPP loans as of December 31, 2023.
Schedule of Carrying Amount of Loans Acquired in Business Combination with more than Insignificant Deterioration of Credit Quality since Origination
The following table shows the carrying amount of loans acquired in the BBI and HSBI acquisitions for which there was, at the date of acquisition, more than insignificant deterioration of credit quality since origination:
($ in thousands)BBIHSBI
Purchase price of loans at acquisition$27,669 $52,356 
Allowance for credit losses at acquisition1,303 3,176 
Non-credit discount (premium) at acquisition530 2,325 
Par value of acquired loans at acquisition$29,502 $57,857 
Schedule of Modified Loans
The following table presents the amortized cost basis of loans that were both experiencing financial difficulty and modified during the nine months ended September 30, 2024 and September 30, 2023, by class and by type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivable is also presented below:
($ in thousands)
September 30, 2024Payment DelayPayment ModificationTerm ExtensionPercentage of Total Loans Held for Investment
Commercial, financial and agriculture $43 $100 $— 0.01 %
Commercial real estate— — 720 0.02 %
Consumer real estate— 24 761 0.06 %
Total$43 $124 $1,481 0.03 %
September 30, 2023Term ExtensionPercentage of Total Loans Held for Investment
Consumer real estate$413 0.01 %
Total$413 0.01 %
Schedule of Collateral Dependent Loans Evaluated by Class
The following table presents the amortized cost basis of collateral dependent individually evaluated loans by class of loans as of September 30, 2024 and December 31, 2023:
($ in thousands)
September 30, 2024Real PropertyEquipmentMiscellaneousTotal
Commercial, financial and agriculture$— $72 $399 $471 
Commercial real estate838 — — 838 
Consumer real estate1,762 — — 1,762 
Consumer installment— — 13 13 
Total$2,600 $72 $412 $3,084 
December 31, 2023Real PropertyEquipmentMiscellaneousTotal
Commercial, financial and agriculture$—$496 $918 $1,414 
Commercial real estate710— — 710 
Consumer real estate778— — 778 
Total$1,488$496 $918 $2,902
Schedule of Amortized Cost Basis of Loans by Credit Quality Indicator and Class of Loans Based on the Most Recent Analysis Performed and Risk Category of Loans by Class of Loans
The tables below present the amortized cost basis of loans by credit quality indicator and class of loans based on the most recent analysis performed at September 30, 2024 and December 31, 2023. Revolving loans converted to term as of the nine months ended September 30, 2024 and December 31, 2023 were not material to the total loan portfolio.
As of September 30, 2024Term Loans Amortized Cost Basis by Origination YearRevolving
Loans		Total
($ in thousands)20242023202220212020Prior
Commercial, financial and
agriculture:
Risk Rating
Pass$92,130 $88,294 $110,651 $88,411 $34,074 $80,766 $240,163 $734,489 
Special mention— 1,103 73 628 2,368 759 4,933 9,864 
Substandard— 908 544 369 293 1,530 667 4,311 
Doubtful— — — — — — — — 
Total commercial, financial and agriculture$92,130 $90,305 $111,268 $89,408 $36,735 $83,055 $245,763 $748,664 
Current period gross write offs$— $70 $159 $287 $11 $305 $— $832 
Commercial real estate:
Risk Rating
Pass$353,455 $392,267 $824,061 $512,024 $340,788 $720,312 $3,364 $3,146,271 
Special mention1,374 — 1,340 5,827 2,929 19,831 — 31,301 
Substandard583 1,425 12,850 4,623 1,556 36,957 — 57,994 
Doubtful— — — — — — — — 
Total commercial real estate$355,412 $393,692 $838,251 $522,474 $345,273 $777,100 $3,364 $3,235,566 
Current period gross write offs$— $— $— $20 $— $71 $— $91 
Consumer real estate:
Risk Rating
Pass$141,382 $152,809 $303,506 $197,321 $117,042 $193,986 $156,879 $1,262,925 
Special mention— — 423 489 — 1,815 668 3,395 
Substandard403 1,382 3,611 1,372 2,294 8,964 2,798 20,824 
Doubtful— — — — — — — — 
Total consumer real estate$141,785 $154,191 $307,540 $199,182 $119,336 $204,765 $160,345 $1,287,144 
Current period gross write offs$— $— $357 $— $— $18 $— $375 
Consumer installment:
Risk Rating
Pass$12,992 $12,498 $7,411 $4,862 $1,628 $1,431 $6,200 $47,022 
Special mention— 52 89 9 27 — 17 194 
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Total consumer installment$12,992 $12,550 $7,500 $4,871 $1,655 $1,431 $6,217 $47,216 
Current period gross write offs$94 $289 $182 $87 $58 $882 $32 $1,624 
Total
Pass$599,959 $645,868 $1,245,629 $802,618 $493,532 $996,495 $406,606 $5,190,707 
Special mention1,374 1,155 1,925 6,953 5,324 22,405 5,618 44,754 
Substandard986 3,715 17,005 6,364 4,143 47,451 3,465 83,129 
Doubtful— — — — — — — — 
Total$602,319 $650,738 $1,264,559 $815,935 $502,999 $1,066,351 $415,689 $5,318,590 
Current period gross write offs$94 $359 $698 $394 $69 $1,276 $32 $2,922 
As of December 31, 2023Term Loans Amortized Cost Basis by Origination YearRevolving
Loans		Total
($ in thousands)20232022202120202019Prior
Commercial, financial and:
agriculture
Risk Rating
Pass$102,263 $150,420 $113,487 $47,313 $36,065 $64,020 $281,646 $795,214 
Special mention— — — 141 797 3 10 951 
Substandard451 330 121 185 550 1,894 628 4,159 
Doubtful— — — — — — — — 
Total commercial, financial and agriculture$102,714 $150,750 $113,608 $47,639 $37,412 $65,917 $282,284 $800,324 
Current period gross write offs$14 $51 $225 $139 $206 $110 $— $745 
Commercial real estate:        
Risk Rating
Pass$385,954 $825,505 $558,742 $377,085 $253,746 $569,428 $6,397 $2,976,857 
Special mention— 660 6,118 3,111 9,545 22,648 — 42,082 
Substandard136 7,293 393 566 5,427 26,401 — 40,216 
Doubtful— — — — — — — — 
Total commercial real estate$386,090 $833,458 $565,253 $380,762 $268,718 $618,477 $6,397 $3,059,155 
Current period gross write offs$— $— $193 $— $— $57 $— $250 
Consumer real estate:        
Risk Rating
Pass$176,144 $334,056 $219,071 $127,539 $59,615 $163,464 $153,821 $1,233,710 
Special mention— 1,081 — — 643 3,246 412 5,382 
Substandard502 404 511 1,559 514 6,988 3,225 13,703 
Doubtful— — — — — — — — 
Total consumer real estate$176,646 $335,541 $219,582 $129,098 $60,772 $173,698 $157,458 $1,252,795 
Current period gross write offs$5 $19 $— $— $— $25 $— $49 
Consumer installment:
Risk Rating
Pass$24,482 $12,408 $7,316 $2,919 $1,213 $1,195 $8,156 $57,689 
Special mention— — — — — — — — 
Substandard— 8 17 42 11 — 1 79 
Doubtful— — — — — — — — 
Total consumer installment$24,482 $12,416 $7,333 $2,961 $1,224 $1,195 $8,157 $57,768 
Current period gross write offs$226 $567 $223 $179 $156 $576 $121 $2,048 
Total
Pass$688,843 $1,322,389 $898,616 $554,856 $350,639 $798,107 $450,020 $5,063,470 
Special mention— 1,741 6,118 3,252 10,985 25,897 422 48,415 
Substandard1,089 8,035 1,042 2,352 6,502 35,283 3,854 58,157 
Doubtful— — — — — — — — 
Total $689,932 $1,332,165 $905,776 $560,460 $368,126 $859,287 $454,296 $5,170,042 
Current period gross write offs$245 $637 $641 $318 $362 $768 $121 $3,092 
Schedule of Financing Receivable, Allowance for Credit Loss
The following table presents the activity in the allowance for credit losses by portfolio segment for the three and nine months ended September 30, 2024 and 2023:
($ in thousands)Three Months Ended September 30, 2024
Commercial,
Financial and
Agriculture		Commercial
Real Estate		Consumer
Real Estate		Consumer
Installment		Total
Allowance for credit losses:
Beginning balance$8,731 $30,101 $15,560 $741 $55,133 
Provision for credit losses349 565 (67)153 1,000 
Loans charged-off(404)— (81)(901)(1,386)
Recoveries 232 18 22 681 953 
Total ending allowance balance$8,908 $30,684 $15,434 $674 $55,700 
($ in thousands)Nine Months Ended September 30, 2024
Commercial,
Financial and
Agriculture		Commercial
Real Estate		Consumer
Real Estate		Consumer
Installment		Total
Allowance for credit losses:
Beginning balance$8,844 $29,125 $15,260 $803 $54,032 
Provision for credit losses652 1,093 493 412 2,650 
Loans charged-off(832)(91)(375)(1,624)(2,922)
Recoveries244 557 56 1,083 1,940 
Total ending allowance balance$8,908 $30,684 $15,434 $674 $55,700 
($ in thousands)Three Months Ended September 30, 2023
Commercial,
Financial and
Agriculture		Commercial
Real Estate		Consumer
Real Estate		Consumer
Installment		Total
Allowance for credit losses:
Beginning balance$8,972 $28,726 $14,123 $793 $52,614 
Provision for credit losses(709)389 919 401 1,000 
Loans charged-off(48)(27)(21)(533)(629)
Recoveries277 15 142 146 580 
Total ending allowance balance$8,492 $29,103 $15,163 $807 $53,565 
($ in thousands)Nine Months Ended September 30, 2023
Commercial,
Financial and
Agriculture		Commercial
Real Estate		Consumer
Real Estate		Consumer
Installment		Total
Allowance for credit losses:
Beginning balance$6,349$20,389$11,599$580$38,917
Initial allowance on PCD loans7272,260 18273,176 
Provision for credit losses1,5546,3803,2031,36312,500
Loans charged-off(472)(27)(45)(1,551)(2,095)
Recoveries3341012244081,067
Total ending allowance balance$8,492$29,103$15,163$807$53,565
The following table provides the ending balance in the Company’s LHFI and the ACL, broken down by portfolio segment as of September 30, 2024 and December 31, 2023.
($ in thousands)
September 30, 2024Commercial,
Financial and
Agriculture		Commercial
Real Estate		Consumer
Real Estate		Consumer
Installment		Total
LHFI
Individually evaluated$471 $838 $1,762 $13 $3,084 
Collectively evaluated748,193 3,234,728 1,285,382 47,203 5,315,506 
Total$748,664 $3,235,566 $1,287,144 $47,216 $5,318,590 
Allowance for Credit Losses     
Individually evaluated$190 $— $— $— $190 
Collectively evaluated8,718 30,684 15,434 674 55,510 
Total$8,908 $30,684 $15,434 $674 $55,700 
($ in thousands)
December 31, 2023Commercial,
Financial and
Agriculture		Commercial
Real Estate		Consumer
Real Estate		Consumer
Installment		Total
LHFI
Individually evaluated$1,414 $710 $778 $— $2,902 
Collectively evaluated798,910 3,058,445 1,252,017 57,768 5,167,140 
Total$800,324 $3,059,155 $1,252,795 $57,768 $5,170,042 
Allowance for Credit Losses     
Individually evaluated$408 $— $— $— $408 
Collectively evaluated8,436 29,125 15,260 803 53,624 
Total$8,844 $29,125 $15,260 $803 $54,032