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As Of Filer Filing For·On·As Docs:Size 8/05/22 Ameris Bancorp 10-Q 6/30/22 85:19M |
Document/Exhibit Description Pages Size
1: 10-Q Quarterly Report HTML 4.98M
2: EX-10.1 Material Contract HTML 150K
3: EX-10.2 Material Contract HTML 26K
4: EX-31.1 Certification -- §302 - SOA'02 HTML 30K
5: EX-31.2 Certification -- §302 - SOA'02 HTML 30K
6: EX-32.1 Certification -- §906 - SOA'02 HTML 26K
7: EX-32.2 Certification -- §906 - SOA'02 HTML 26K
13: R1 Cover HTML 77K
14: R2 Consolidated Balance Sheets HTML 132K
15: R3 Consolidated Balance Sheets (Parenthetical) HTML 51K
16: R4 Consolidated Statements of Income and HTML 150K
Comprehensive Income (Unaudited)
17: R5 Consolidated Statements of Income and HTML 27K
Comprehensive Income (Unaudited) (Parenthetical)
18: R6 Consolidated Statements of Shareholders? Equity HTML 104K
(Unaudited)
19: R7 Consolidated Statements of Shareholders? Equity HTML 26K
(Unaudited) (Parenthetical)
20: R8 Consolidated Statements of Cash Flows (Unaudited) HTML 186K
21: R9 Basis of Presentation and Accounting Policies HTML 37K
22: R10 Investment Securities HTML 209K
23: R11 Loans and Allowance for Credit Losses HTML 819K
24: R12 Securities Sold Under Agreements to Repurchase HTML 31K
25: R13 Other Borrowings HTML 52K
26: R14 Accumulated Other Comprehensive Income HTML 55K
27: R15 Weighted Average Shares Outstanding HTML 41K
28: R16 Fair Value Measures HTML 218K
29: R17 Commitments and Contingencies HTML 53K
30: R18 Segment Reporting HTML 218K
31: R19 Loan Servicing Rights HTML 133K
32: R20 Basis of Presentation and Accounting Policies HTML 44K
(Policies)
33: R21 Investment Securities (Tables) HTML 217K
34: R22 Loans and Allowance for Credit Losses (Tables) HTML 818K
35: R23 Securities Sold Under Agreements to Repurchase HTML 30K
(Tables)
36: R24 Other Borrowings (Tables) HTML 47K
37: R25 Accumulated Other Comprehensive Income (Tables) HTML 54K
38: R26 Weighted Average Shares Outstanding (Tables) HTML 40K
39: R27 Fair Value Measures (Tables) HTML 223K
40: R28 Commitments and Contingencies (Tables) HTML 46K
41: R29 Segment Reporting (Tables) HTML 214K
42: R30 Loan Servicing Rights (Tables) HTML 123K
43: R31 BASIS OF PRESENTATION AND ACCOUNTING POLICIES - HTML 29K
Narrative (Details)
44: R32 INVESTMENT SECURITIES - Amortized Cost and HTML 66K
Estimated Fair Value of Investment Securities
Available for Sale (Details)
45: R33 INVESTMENT SECURITIES - Amortized Cost and HTML 42K
Estimated Fair Value of Securities
Held-to-Maturity (Details)
46: R34 INVESTMENT SECURITIES - Amortized Cost and Fair HTML 95K
Value of Available for Sale Securities by
Contractual Maturity (Details)
47: R35 INVESTMENT SECURITIES - Narrative (Details) HTML 78K
48: R36 INVESTMENT SECURITIES - Schedule of Gross HTML 70K
Unrealized Losses and Fair Value of Securities
(Details)
49: R37 INVESTMENT SECURITIES - Schedule of HTML 49K
Held-to-Maturity Securities with Unrealized Losses
(Details)
50: R38 INVESTMENT SECURITIES - Schedule of Investments HTML 31K
Available-for-sale, Allowance for Credit Loss
(Details)
51: R39 INVESTMENT SECURITIES - Schedule of Gain on HTML 31K
Securities (Details)
52: R40 LOANS AND ALLOWANCE FOR CREDIT LOSSES - Loans HTML 48K
Receivable (Details)
53: R41 LOANS AND ALLOWANCE FOR CREDIT LOSSES - Narrative HTML 43K
(Details)
54: R42 LOANS AND ALLOWANCE FOR CREDIT LOSSES - Loans HTML 45K
Accounted for on a Nonaccrual Basis (Details)
55: R43 LOANS AND ALLOWANCE FOR CREDIT LOSSES - Analysis HTML 117K
of Past-Due Loans (Details)
56: R44 LOANS AND ALLOWANCE FOR CREDIT LOSSES - Summary of HTML 41K
Information Pertaining to Impaired Loans (Details)
57: R45 LOANS AND ALLOWANCE FOR CREDIT LOSSES - Loans by HTML 193K
Risk Grade (Details)
58: R46 LOANS AND ALLOWANCE FOR CREDIT LOSSES - Loans by HTML 99K
Class Modified as Troubled Debt Restructurings
(Details)
59: R47 LOANS AND ALLOWANCE FOR CREDIT LOSSES - Allowance HTML 74K
for Loan Losses (Details)
60: R48 Securities Sold Under Agreements to Repurchase HTML 28K
(Details)
61: R49 OTHER BORROWINGS - Schedule of Other Borrowings HTML 85K
(Details)
62: R50 OTHER BORROWINGS - Narrative (Details) HTML 32K
63: R51 Accumulated Other Comprehensive Income (Details) HTML 41K
64: R52 Weighted Average Shares Outstanding (Details) HTML 40K
65: R53 FAIR VALUE MEASURES - Loans Held for Sale Under HTML 31K
the Fair Value Option (Details)
66: R54 FAIR VALUE MEASURES - Narrative (Details) HTML 29K
67: R55 FAIR VALUE MEASURES - Difference Between Fair HTML 40K
Value and Principal Balance of Loans Held for Sale
Measured at Fair Value (Details)
68: R56 FAIR VALUE MEASURES - Fair Value Measurements of HTML 101K
Assets and Liabilities Measured on Recurring Basis
(Details)
69: R57 FAIR VALUE MEASURES - Fair Value Measurements of HTML 52K
Assets Measured at Fair Value on Non-Recurring
Basis (Details)
70: R58 FAIR VALUE MEASURES - Significant Unobservable HTML 80K
Inputs Used in Fair Value Measurement of Level 3
Assets and Liabilities (Details)
71: R59 FAIR VALUE MEASURES - Carrying Amount and HTML 75K
Estimated Fair Value of Financial Instruments
(Details)
72: R60 COMMITMENTS AND CONTINGENCIES - Schedule of HTML 31K
Guarantor Obligations (Details)
73: R61 COMMITMENTS AND CONTINGENCIES - Allowance for HTML 34K
Unfunded Commitments (Details)
74: R62 COMMITMENTS AND CONTINGENCIES - Narrative HTML 28K
(Details)
75: R63 SEGMENT REPORTING - Narrative (Details) HTML 26K
76: R64 SEGMENT REPORTING - Schedule of Segment Reporting, HTML 134K
by Reportable Business Segments (Details)
77: R65 LOAN SERVICING RIGHTS - Schedule of Carrying Value HTML 33K
of Loan Servicing Rights Assets (Details)
78: R66 LOAN SERVICING RIGHTS - Narrative (Details) HTML 33K
79: R67 LOAN SERVICING RIGHTS - Schedule of Activity of HTML 52K
Servicing Rights (Details)
80: R68 LOAN SERVICING RIGHTS - Schedule of Sensitivity of HTML 64K
Fair Value to Adverse Changes in Model Inputs
and/or Assumptions (Details)
83: XML IDEA XML File -- Filing Summary XML 153K
81: XML XBRL Instance -- abcb-20220630_htm XML 7.13M
82: EXCEL IDEA Workbook of Financial Reports XLSX 201K
9: EX-101.CAL XBRL Calculations -- abcb-20220630_cal XML 260K
10: EX-101.DEF XBRL Definitions -- abcb-20220630_def XML 702K
11: EX-101.LAB XBRL Labels -- abcb-20220630_lab XML 1.80M
12: EX-101.PRE XBRL Presentations -- abcb-20220630_pre XML 1.15M
8: EX-101.SCH XBRL Schema -- abcb-20220630 XSD 191K
84: JSON XBRL Instance as JSON Data -- MetaLinks 429± 690K
85: ZIP XBRL Zipped Folder -- 0000351569-22-000017-xbrl Zip 694K
| abcb-20220630 |
| FORM | i 10-Q | ||||
| i ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | |||||||
| i ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | |||||||
| Commission File Number: | i 001-13901 | ||||
| i AMERIS BANCORP | ||
| (Exact name of registrant as specified in its charter) | ||
| i Georgia | i 58-1456434 | ||||
| (State of incorporation) | (IRS Employer ID No.) | ||||
| i 3490 Piedmont Rd N.E., Suite 1550 | ||||||||
| i Atlanta | i Georgia | i 30305 | ||||||
| (Address of principal executive offices) | ||||||||
| i (404) | i 639-6500 | ||||
(Registrant’s telephone number) | |||||
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
| i Common Stock, par value $1 per share | i ABCB | i Nasdaq Global Select Market | ||||||
| i Large accelerated filer | ý | Accelerated filer | ☐ | ||||||||
| Non-accelerated filer | ☐ | Smaller reporting company | i ☐ | ||||||||
| Emerging growth company | i ☐ | ||||||||||
| Page | ||||||||
| PART I – FINANCIAL INFORMATION | ||||||||
| Item 1. | ||||||||
| Item 2. | ||||||||
| Item 3. | ||||||||
| Item 4. | ||||||||
| Item 1. | ||||||||
| Item 1A. | ||||||||
| Item 2. | ||||||||
| Item 3. | ||||||||
| Item 4. | ||||||||
| Item 5. | ||||||||
| Item 6. | ||||||||
| June 30, 2022 (unaudited) | December 31, 2021 | ||||||||||
| Assets | |||||||||||
| Cash and due from banks | $ | i 345,627 | $ | i 307,813 | |||||||
| Federal funds sold and interest-bearing deposits in banks | i 1,961,209 | i 3,756,844 | |||||||||
| Cash and cash equivalents | i 2,306,836 | i 4,064,657 | |||||||||
Debt
securities available-for-sale, at fair value, net of allowance for credit losses of $ i 88 and $ i — | i 1,052,268 | i 592,621 | |||||||||
Debt
securities held-to-maturity, at amortized cost, net of allowance for credit losses of $ i — and $ i —
(fair value of $ i 97,144 and $ i 78,206) | i 111,654 | i 79,850 | |||||||||
| Other investments | i 49,500 | i 47,552 | |||||||||
| Loans held for sale, at fair value | i 555,665 | i 1,254,632 | |||||||||
| Loans, net of unearned income | i 17,561,022 | i 15,874,258 | |||||||||
| Allowance for credit losses | ( i 172,642) | ( i 167,582) | |||||||||
| Loans, net | i 17,388,380 | i 15,706,676 | |||||||||
| Other real estate owned, net | i 835 | i 3,810 | |||||||||
| Premises and equipment, net | i 224,249 | i 225,400 | |||||||||
| Goodwill | i 1,023,056 | i 1,012,620 | |||||||||
| Other intangible assets, net | i 115,613 | i 125,938 | |||||||||
| Cash value of bank owned life insurance | i 384,862 | i 331,146 | |||||||||
| Other assets | i 474,552 | i 413,419 | |||||||||
| Total assets | $ | i 23,687,470 | $ | i 23,858,321 | |||||||
| Liabilities | |||||||||||
| Deposits: | |||||||||||
| Noninterest-bearing | $ | i 8,262,929 | $ | i 7,774,823 | |||||||
| Interest-bearing | i 11,422,053 | i 11,890,730 | |||||||||
| Total deposits | i 19,684,982 | i 19,665,553 | |||||||||
| Securities sold under agreements to repurchase | i 953 | i 5,845 | |||||||||
| Other borrowings | i 425,592 | i 739,879 | |||||||||
| Subordinated deferrable interest debentures | i 127,325 | i 126,328 | |||||||||
| Other liabilities | i 375,242 | i 354,265 | |||||||||
| Total liabilities | i 20,614,094 | i 20,891,870 | |||||||||
Commitments
and Contingencies (Note 9) | i | i | |||||||||
| Shareholders’ Equity | |||||||||||
Preferred stock, stated value $ i i 1,000 / ;
i i 5,000,000 / shares authorized;
i i i i 0 / / /
shares issued and outstanding | i — | i — | |||||||||
Common
stock, par value $ i i 1 / ; i i 200,000,000 /
shares authorized; i 72,251,856 and i 72,017,126 shares issued | i 72,251 | i 72,017 | |||||||||
| Capital surplus | i 1,931,088 | i 1,924,813 | |||||||||
| Retained earnings | i 1,157,359 | i 1,006,436 | |||||||||
| Accumulated other comprehensive income, net of tax | ( i 12,635) | i 15,590 | |||||||||
Treasury
stock, at cost, i 2,891,395 and i 2,407,898 shares | ( i 74,687) | ( i 52,405) | |||||||||
| Total shareholders’ equity | i 3,073,376 | i 2,966,451 | |||||||||
| Total liabilities and shareholders’ equity | $ | i 23,687,470 | $ | i 23,858,321 | |||||||
| Three
Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
| Interest income | |||||||||||||||||||||||
| Interest and fees on loans | $ | i 190,740 | $ | i 167,761 | $ | i 368,306 | $ | i 338,918 | |||||||||||||||
| Interest on taxable securities | i 7,064 | i 5,244 | i 11,303 | i 11,362 | |||||||||||||||||||
| Interest on nontaxable securities | i 269 | i 139 | i 455 | i 280 | |||||||||||||||||||
| Interest on deposits in other banks and federal funds sold | i 4,495 | i 607 | i 5,878 | i 1,141 | |||||||||||||||||||
| Total interest income | i 202,568 | i 173,751 | i 385,942 | i 351,701 | |||||||||||||||||||
| Interest expense | |||||||||||||||||||||||
| Interest on deposits | i 4,908 | i 5,775 | i 9,000 | i 12,573 | |||||||||||||||||||
| Interest on other borrowings | i 6,296 | i 6,124 | i 13,034 | i 12,299 | |||||||||||||||||||
| Total interest expense | i 11,204 | i 11,899 | i 22,034 | i 24,872 | |||||||||||||||||||
| Net interest income | i 191,364 | i 161,852 | i 363,908 | i 326,829 | |||||||||||||||||||
| Provision for loan losses | i 13,227 | ( i 899) | i 10,493 | ( i 17,478) | |||||||||||||||||||
| Provision for unfunded commitments | i 1,779 | i 1,299 | i 10,788 | ( i 10,540) | |||||||||||||||||||
| Provision for other credit losses | ( i 82) | ( i 258) | ( i 126) | ( i 431) | |||||||||||||||||||
| Provision for credit losses | i 14,924 | i 142 | i 21,155 | ( i 28,449) | |||||||||||||||||||
| Net interest income after provision for credit losses | i 176,440 | i 161,710 | i 342,753 | i 355,278 | |||||||||||||||||||
| Noninterest income | |||||||||||||||||||||||
| Service charges on deposit accounts | i 11,148 | i 11,007 | i 22,206 | i 21,836 | |||||||||||||||||||
| Mortgage banking activity | i 58,761 | i 70,231 | i 121,699 | i 168,717 | |||||||||||||||||||
| Other service charges, commissions and fees | i 998 | i 1,056 | i 1,937 | i 2,072 | |||||||||||||||||||
| Net loss on securities | i 248 | i 1 | i 221 | ( i 11) | |||||||||||||||||||
| Other noninterest income | i 12,686 | i 6,945 | i 24,689 | i 14,599 | |||||||||||||||||||
| Total noninterest income | i 83,841 | i 89,240 | i 170,752 | i 207,213 | |||||||||||||||||||
| Noninterest expense | |||||||||||||||||||||||
| Salaries and employee benefits | i 81,545 | i 85,505 | i 165,826 | i 181,490 | |||||||||||||||||||
| Occupancy and equipment | i 12,746 | i 10,812 | i 25,473 | i 22,593 | |||||||||||||||||||
| Data processing and communications expenses | i 12,155 | i 11,877 | i 24,727 | i 23,761 | |||||||||||||||||||
| Credit resolution-related expenses | i 496 | i 622 | ( i 469) | i 1,169 | |||||||||||||||||||
| Advertising and marketing | i 3,122 | i 1,946 | i 5,110 | i 3,377 | |||||||||||||||||||
| Amortization of intangible assets | i 5,144 | i 4,065 | i 10,325 | i 8,191 | |||||||||||||||||||
| Merger and conversion charges | i — | i — | i 977 | i — | |||||||||||||||||||
| Loan servicing expense | i 9,920 | i 4,914 | i 18,839 | i 10,814 | |||||||||||||||||||
| Other noninterest expenses | i 17,068 | i 16,020 | i 35,208 | i 33,164 | |||||||||||||||||||
| Total noninterest expense | i 142,196 | i 135,761 | i 286,016 | i 284,559 | |||||||||||||||||||
| Income before income tax expense | i 118,085 | i 115,189 | i 227,489 | i 277,932 | |||||||||||||||||||
| Income tax expense | i 28,019 | i 26,862 | i 55,725 | i 64,643 | |||||||||||||||||||
| Net income | i 90,066 | i 88,327 | i 171,764 | i 213,289 | |||||||||||||||||||
| Other comprehensive loss | |||||||||||||||||||||||
Net unrealized holding losses arising during period on investment securities available-for-sale, net of tax benefit of $( i 2,870),
$( i 283), $( i 7,503)
and $( i 2,255) | ( i 10,794) | ( i 1,066) | ( i 28,225) | ( i 8,481) | |||||||||||||||||||
| Total other comprehensive loss | ( i 10,794) | ( i 1,066) | ( i 28,225) | ( i 8,481) | |||||||||||||||||||
| Comprehensive income | $ | i 79,272 | $ | i 87,261 | $ | i 143,539 | $ | i 204,808 | |||||||||||||||
| Basic earnings per common share | $ | i 1.30 | $ | i 1.27 | $ | i 2.48 | $ | i 3.07 | |||||||||||||||
| Diluted earnings per common share | $ | i 1.30 | $ | i 1.27 | $ | i 2.47 | $ | i 3.06 | |||||||||||||||
| Weighted average common shares outstanding | |||||||||||||||||||||||
| Basic | i 69,136 | i 69,497 | i 69,246 | i 69,448 | |||||||||||||||||||
| Diluted | i 69,316 | i 69,792 | i 69,485 | i 69,765 | |||||||||||||||||||
| Three Months Ended June 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||
| Common Stock | Capital Surplus | Retained Earnings | Accumulated Other Comprehensive Income (Loss), Net of Tax | Treasury Stock | Total Shareholders' Equity | ||||||||||||||||||||||||||||||||||||||||||
| Shares | Amount | Shares | Amount | ||||||||||||||||||||||||||||||||||||||||||||
| Balance, March 31, 2022 | i 72,212,322 | $ | i 72,212 | $ | i 1,928,702 | $ | i 1,077,725 | $ | ( i 1,841) | i 2,773,238 | $ | ( i 69,639) | $ | i 3,007,159 | |||||||||||||||||||||||||||||||||
| Issuance of restricted shares | i 18,953 | i 19 | ( i 19) | — | — | — | — | i — | |||||||||||||||||||||||||||||||||||||||
| Forfeitures of restricted shares | ( i 10,751) | ( i 11) | ( i 81) | — | — | — | — | ( i 92) | |||||||||||||||||||||||||||||||||||||||
| Proceeds from exercise of stock options | i 31,332 | i 31 | i 849 | — | — | — | — | i 880 | |||||||||||||||||||||||||||||||||||||||
| Share-based compensation | — | — | i 1,637 | — | — | — | — | i 1,637 | |||||||||||||||||||||||||||||||||||||||
| Purchase of treasury shares | — | — | — | — | — | i 118,157 | ( i 5,048) | ( i 5,048) | |||||||||||||||||||||||||||||||||||||||
| Net income | — | — | — | i 90,066 | — | — | — | i 90,066 | |||||||||||||||||||||||||||||||||||||||
Dividends
on common shares ($ i 0.15 per share) | — | — | — | ( i 10,432) | — | — | — | ( i 10,432) | |||||||||||||||||||||||||||||||||||||||
| Other comprehensive loss during the period | — | — | — | — | ( i 10,794) | — | — | ( i 10,794) | |||||||||||||||||||||||||||||||||||||||
| Balance, June 30, 2022 | i 72,251,856 | $ | i 72,251 | $ | i 1,931,088 | $ | i 1,157,359 | $ | ( i 12,635) | i 2,891,395 | $ | ( i 74,687) | $ | i 3,073,376 | |||||||||||||||||||||||||||||||||
| Six Months Ended June 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||
| Common Stock | Capital Surplus | Retained Earnings | Accumulated Other Comprehensive Income (Loss), Net of Tax | Treasury Stock | Total Shareholders' Equity | ||||||||||||||||||||||||||||||||||||||||||
| Shares | Amount | Shares | Amount | ||||||||||||||||||||||||||||||||||||||||||||
| Balance, December 31, 2021 | i 72,017,126 | $ | i 72,017 | $ | i 1,924,813 | $ | i 1,006,436 | $ | i 15,590 | i 2,407,898 | $ | ( i 52,405) | $ | i 2,966,451 | |||||||||||||||||||||||||||||||||
| Issuance of restricted shares | i 164,346 | i 164 | i 1,177 | — | — | — | — | i 1,341 | |||||||||||||||||||||||||||||||||||||||
| Forfeitures of restricted shares | ( i 10,751) | ( i 10) | ( i 81) | — | — | — | — | ( i 91) | |||||||||||||||||||||||||||||||||||||||
| Proceeds from exercise of stock options | i 81,135 | i 80 | i 2,244 | — | — | — | — | i 2,324 | |||||||||||||||||||||||||||||||||||||||
| Share-based compensation | — | — | i 2,935 | — | — | — | — | i 2,935 | |||||||||||||||||||||||||||||||||||||||
| Purchase of treasury shares | — | — | — | — | — | i 483,497 | ( i 22,282) | ( i 22,282) | |||||||||||||||||||||||||||||||||||||||
| Net income | — | — | — | i 171,764 | — | — | — | i 171,764 | |||||||||||||||||||||||||||||||||||||||
Dividends
on common shares ($ i 0.30 per share) | — | — | — | ( i 20,841) | — | — | — | ( i 20,841) | |||||||||||||||||||||||||||||||||||||||
| Other comprehensive loss during the period | — | — | — | — | ( i 28,225) | — | — | ( i 28,225) | |||||||||||||||||||||||||||||||||||||||
| Balance, June 30, 2022 | i 72,251,856 | $ | i 72,251 | $ | i 1,931,088 | $ | i 1,157,359 | $ | ( i 12,635) | i 2,891,395 | $ | ( i 74,687) | $ | i 3,073,376 | |||||||||||||||||||||||||||||||||
| Three Months Ended June 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||
| Common Stock | Capital Surplus | Retained Earnings | Accumulated Other Comprehensive Income, Net of Tax | Treasury Stock | Total Shareholders' Equity | ||||||||||||||||||||||||||||||||||||||||||
| Shares | Amount | Shares | Amount | ||||||||||||||||||||||||||||||||||||||||||||
| Balance, March 31, 2021 | i 71,954,088 | $ | i 71,954 | $ | i 1,917,990 | $ | i 785,984 | $ | i 26,090 | i 2,240,662 | $ | ( i 44,422) | $ | i 2,757,596 | |||||||||||||||||||||||||||||||||
| Issuance of restricted shares | i 13,233 | i 13 | ( i 13) | — | — | — | — | i — | |||||||||||||||||||||||||||||||||||||||
| Forfeitures of restricted shares | ( i 750) | ( i 1) | ( i 19) | — | — | — | — | ( i 20) | |||||||||||||||||||||||||||||||||||||||
| Proceeds from exercise of stock options | i 41,300 | i 42 | i 1,167 | — | — | — | — | i 1,209 | |||||||||||||||||||||||||||||||||||||||
| Share-based compensation | — | — | i 1,441 | — | — | — | — | i 1,441 | |||||||||||||||||||||||||||||||||||||||
| Purchase of treasury shares | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
| Net income | — | — | — | i 88,327 | — | — | — | i 88,327 | |||||||||||||||||||||||||||||||||||||||
Dividends
on common shares ($ i 0.15 per share) | — | — | — | ( i 10,483) | — | — | — | ( i 10,483) | |||||||||||||||||||||||||||||||||||||||
| Other comprehensive loss during the period | — | — | — | — | ( i 1,066) | — | — | ( i 1,066) | |||||||||||||||||||||||||||||||||||||||
| Balance, June 30, 2021 | i 72,007,871 | $ | i 72,008 | $ | i 1,920,566 | $ | i 863,828 | $ | i 25,024 | i 2,240,662 | $ | ( i 44,422) | $ | i 2,837,004 | |||||||||||||||||||||||||||||||||
| Six Months Ended June 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||
| Common Stock | Capital Surplus | Retained Earnings | Accumulated Other Comprehensive Income, Net of Tax | Treasury Stock | Total Shareholders' Equity | ||||||||||||||||||||||||||||||||||||||||||
| Shares | Amount | Shares | Amount | ||||||||||||||||||||||||||||||||||||||||||||
| Balance, December 31, 2020 | i 71,753,705 | $ | i 71,754 | $ | i 1,913,285 | $ | i 671,510 | $ | i 33,505 | i 2,212,224 | $ | ( i 42,966) | $ | i 2,647,088 | |||||||||||||||||||||||||||||||||
| Issuance of restricted shares | i 99,308 | i 99 | i 500 | — | — | — | — | i 599 | |||||||||||||||||||||||||||||||||||||||
| Forfeitures of restricted shares | ( i 750) | ( i 1) | ( i 19) | — | — | — | — | ( i 20) | |||||||||||||||||||||||||||||||||||||||
| Proceeds from exercise of stock options | i 155,608 | i 156 | i 4,055 | — | — | — | — | i 4,211 | |||||||||||||||||||||||||||||||||||||||
| Share-based compensation | — | — | i 2,745 | — | — | — | — | i 2,745 | |||||||||||||||||||||||||||||||||||||||
| Purchase of treasury shares | — | — | — | — | — | i 28,438 | ( i 1,456) | ( i 1,456) | |||||||||||||||||||||||||||||||||||||||
| Net income | — | — | — | i 213,289 | — | — | — | i 213,289 | |||||||||||||||||||||||||||||||||||||||
Dividends
on common shares ($ i 0.30 per share) | — | — | — | ( i 20,971) | — | — | — | ( i 20,971) | |||||||||||||||||||||||||||||||||||||||
| Other comprehensive loss during the period | — | — | — | — | ( i 8,481) | — | — | ( i 8,481) | |||||||||||||||||||||||||||||||||||||||
| Balance, June 30, 2021 | i 72,007,871 | $ | i 72,008 | $ | i 1,920,566 | $ | i 863,828 | $ | i 25,024 | i 2,240,662 | $ | ( i 44,422) | $ | i 2,837,004 | |||||||||||||||||||||||||||||||||
| Six
Months Ended June 30, | ||||||||||||||
| 2022 | 2021 | |||||||||||||
| Operating Activities | ||||||||||||||
| Net income | $ | i 171,764 | $ | i 213,289 | ||||||||||
| Adjustments reconciling net income to net cash provided by (used in) operating activities: | ||||||||||||||
| Depreciation | i 9,191 | i 8,226 | ||||||||||||
| Net losses on sale or disposal of premises and equipment | i 39 | i 920 | ||||||||||||
| Net write-downs on other assets | i — | i 149 | ||||||||||||
| Provision for credit losses | i 21,155 | ( i 28,449) | ||||||||||||
| Net write-downs and (gains) losses on sale of other real estate owned | ( i 1,758) | ( i 558) | ||||||||||||
| Share-based compensation expense | i 3,045 | i 3,454 | ||||||||||||
| Amortization of intangible assets | i 10,325 | i 8,191 | ||||||||||||
| Amortization of operating lease right of use assets | i 5,750 | i 5,866 | ||||||||||||
| Provision for deferred taxes | i 10,505 | i 26,488 | ||||||||||||
| Net amortization of investment securities available-for-sale | i 588 | i 1,985 | ||||||||||||
| Net amortization of investment securities held-to-maturity | i 51 | i 1 | ||||||||||||
| Net amortization of other investments | i 396 | i — | ||||||||||||
| Net (gain) loss on securities | ( i 221) | i 11 | ||||||||||||
| Accretion of discount on purchased loans, net | ( i 627) | ( i 10,589) | ||||||||||||
| Net amortization on other borrowings | i 216 | i 222 | ||||||||||||
| Amortization of subordinated deferrable interest debentures | i 997 | i 986 | ||||||||||||
| Loan servicing asset recovery | ( i 20,492) | ( i 11,388) | ||||||||||||
| Originations of mortgage loans held for sale | ( i 2,406,310) | ( i 4,425,420) | ||||||||||||
| Payments received on mortgage loans held for sale | i 19,746 | i 24,477 | ||||||||||||
| Proceeds from sales of mortgage loans held for sale | i 2,833,622 | i 4,198,098 | ||||||||||||
| Net (gains) losses on sale of mortgage loans held for sale | i 78,173 | ( i 84,992) | ||||||||||||
| Originations of SBA loans | ( i 30,793) | ( i 44,257) | ||||||||||||
| Proceeds from sales of SBA loans | i 40,286 | i 41,017 | ||||||||||||
| Net gains on sale of SBA loans | ( i 3,484) | ( i 3,453) | ||||||||||||
| Increase in cash surrender value of bank owned life insurance | ( i 3,716) | ( i 2,078) | ||||||||||||
| Gain on bank owned life insurance proceeds | i — | ( i 603) | ||||||||||||
| Net gains on other loans held for sale | i — | ( i 457) | ||||||||||||
| Change attributable to other operating activities | ( i 24,580) | ( i 13,363) | ||||||||||||
| Net cash provided by (used in) operating activities | i 713,868 | ( i 92,227) | ||||||||||||
| Investing Activities, net of effects of business combinations | ||||||||||||||
| Proceeds from maturities of time deposits in other banks | i — | i 249 | ||||||||||||
| Purchases of securities available-for-sale | ( i 613,715) | i — | ||||||||||||
| Purchases of investment securities held-to-maturity | ( i 33,217) | ( i 29,056) | ||||||||||||
| Proceeds from maturities and paydowns of securities available-for-sale | i 117,664 | i 192,022 | ||||||||||||
| Proceeds from maturities and paydowns of securities held-to-maturity | i 1,362 | i — | ||||||||||||
| Net (increase) decrease in other investments | ( i 2,123) | i 570 | ||||||||||||
| Net increase in loans | ( i 1,533,706) | ( i 219,110) | ||||||||||||
| Purchases of premises and equipment | ( i 8,192) | ( i 17,196) | ||||||||||||
| Proceeds from sale of premises and equipment | i 46 | i 946 | ||||||||||||
| Proceeds from sales of other real estate owned | i 4,962 | i 7,902 | ||||||||||||
| Purchases of bank owned life insurance | ( i 50,000) | ( i 100,000) | ||||||||||||
| Proceeds from bank owned life insurance | i — | i 1,309 | ||||||||||||
| Payments received on other loans held for sale | i — | i 9,136 | ||||||||||||
| Proceeds from sales of other loans held for sale | i — | i 156,803 | ||||||||||||
| Net cash and cash equivalents paid in acquisitions | ( i 14,003) | i — | ||||||||||||
| Net cash provided by (used in) investing activities | ( i 2,130,922) | i 3,575 | ||||||||||||
| (Continued) | ||||||||||||||
| Six Months Ended June 30, | ||||||||||||||
| 2022 | 2021 | |||||||||||||
| Financing Activities, net of effects of business combinations | ||||||||||||||
| Net increase in deposits | $ | i 19,429 | $ | i 1,300,174 | ||||||||||
| Net decrease in securities sold under agreements to repurchase | ( i 4,892) | ( i 6,097) | ||||||||||||
| Repayment of other borrowings | ( i 314,503) | ( i 74) | ||||||||||||
| Proceeds from exercise of stock options | i 2,324 | i 4,211 | ||||||||||||
| Dividends paid - common stock | ( i 20,843) | ( i 20,888) | ||||||||||||
| Purchase of treasury shares | ( i 22,282) | ( i 1,456) | ||||||||||||
| Net cash provided by (used in) financing activities | ( i 340,767) | i 1,275,870 | ||||||||||||
| Net increase (decrease) in cash, cash equivalents and restricted cash | ( i 1,757,821) | i 1,187,218 | ||||||||||||
| Cash, cash equivalents and restricted cash at beginning of period | i 4,064,657 | i 2,117,306 | ||||||||||||
| Cash, cash equivalents and restricted cash at end of period | $ | i 2,306,836 | $ | i 3,304,524 | ||||||||||
| Supplemental Disclosures of Cash Flow Information | ||||||||||||||
| Cash paid during the period for: | ||||||||||||||
| Interest | $ | i 23,472 | $ | i 25,985 | ||||||||||
| Income taxes | i 51,851 | i 30,924 | ||||||||||||
| Loans transferred to other real estate owned | i 229 | i 1,239 | ||||||||||||
| Loans transferred from loans held for sale to loans held for investment | i 167,727 | i 85,748 | ||||||||||||
| Loans provided for the sales of other real estate owned | i 2,288 | i 1,052 | ||||||||||||
| Right-of-use assets obtained in exchange for new operating lease liabilities | i 1,537 | i 2,932 | ||||||||||||
| Assets acquired in business acquisitions | i 10,734 | i — | ||||||||||||
| Liabilities assumed in business acquisitions | ( i 3,269) | i — | ||||||||||||
| Change in unrealized gain (loss) on securities available-for-sale, net of tax | ( i 28,225) | ( i 8,481) | ||||||||||||
| (Concluded) | ||||||||||||||
(dollars
in thousands) Securities available-for-sale | Amortized Cost | Allowance for Credit Losses | Gross Unrealized Gains | Gross Unrealized Losses | Estimated Fair Value | |||||||||||||||||||||||||||
| June 30, 2022 | ||||||||||||||||||||||||||||||||
| U.S. Treasuries | $ | i 314,613 | $ | i — | $ | i — | $ | ( i 1,724) | $ | i 312,889 | ||||||||||||||||||||||
| U.S. government-sponsored agencies | i 2,050 | i — | i — | ( i 29) | i 2,021 | |||||||||||||||||||||||||||
| State, county and municipal securities | i 41,428 | i — | i 261 | ( i 726) | i 40,963 | |||||||||||||||||||||||||||
| Corporate debt securities | i 15,897 | ( i 88) | i 2 | ( i 348) | i 15,463 | |||||||||||||||||||||||||||
| SBA pool securities | i 35,854 | i — | i 6 | ( i 1,429) | i 34,431 | |||||||||||||||||||||||||||
| Mortgage-backed securities | i 658,508 | i — | i 420 | ( i 12,427) | i 646,501 | |||||||||||||||||||||||||||
| Total debt securities available-for-sale | $ | i 1,068,350 | $ | ( i 88) | $ | i 689 | $ | ( i 16,683) | $ | i 1,052,268 | ||||||||||||||||||||||
| December 31, 2021 | ||||||||||||||||||||||||||||||||
| U.S. government-sponsored agencies | $ | i 7,084 | $ | i — | $ | i 88 | $ | i — | $ | i 7,172 | ||||||||||||||||||||||
| State, county and municipal securities | i 45,470 | i — | i 2,342 | i — | i 47,812 | |||||||||||||||||||||||||||
| Corporate debt securities | i 27,897 | i — | i 719 | ( i 120) | i 28,496 | |||||||||||||||||||||||||||
| SBA pool securities | i 44,312 | i — | i 958 | ( i 69) | i 45,201 | |||||||||||||||||||||||||||
| Mortgage-backed securities | i 448,124 | i — | i 15,822 | ( i 6) | i 463,940 | |||||||||||||||||||||||||||
| Total debt securities available-for-sale | $ | i 572,887 | $ | i — | $ | i 19,929 | $ | ( i 195) | $ | i 592,621 | ||||||||||||||||||||||
(dollars in thousands) Securities held-to-maturity | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Estimated Fair Value | ||||||||||||||||||||||
| June 30, 2022 | ||||||||||||||||||||||||||
| State, county and municipal securities | $ | i 31,905 | $ | i — | $ | ( i 4,279) | $ | i 27,626 | ||||||||||||||||||
| Mortgage-backed securities | i 79,749 | i — | ( i 10,231) | i 69,518 | ||||||||||||||||||||||
| Total debt securities held-to-maturity | $ | i 111,654 | $ | i — | $ | ( i 14,510) | $ | i 97,144 | ||||||||||||||||||
| December 31, 2021 | ||||||||||||||||||||||||||
| State, county and municipal securities | $ | i 8,905 | $ | i 4 | $ | ( i 198) | $ | i 8,711 | ||||||||||||||||||
| Mortgage-backed securities | i 70,945 | i — | ( i 1,450) | i 69,495 | ||||||||||||||||||||||
| Total debt securities held-to-maturity | $ | i 79,850 | $ | i 4 | $ | ( i 1,648) | $ | i 78,206 | ||||||||||||||||||
| Available-for-Sale | Held-to-Maturity | ||||||||||||||||||||||
(dollars
in thousands) | Amortized Cost | Estimated Fair Value | Amortized Cost | Estimated Fair Value | |||||||||||||||||||
| Due in one year or less | $ | i 6,745 | $ | i 6,754 | $ | i — | $ | i — | |||||||||||||||
| Due from one year to five years | i 339,429 | i 337,279 | i — | i — | |||||||||||||||||||
| Due from five to ten years | i 31,462 | i 31,085 | i — | i — | |||||||||||||||||||
| Due after ten years | i 32,206 | i 30,649 | i 31,905 | i 27,626 | |||||||||||||||||||
| Mortgage-backed securities | i 658,508 | i 646,501 | i 79,749 | i 69,518 | |||||||||||||||||||
| $ | i 1,068,350 | $ | i 1,052,268 | $ | i 111,654 | $ | i 97,144 | ||||||||||||||||
| Less Than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||||||||||||||||
(dollars in thousands) Securities available-for-sale | Estimated Fair Value | Unrealized Losses | Estimated Fair Value | Unrealized Losses | Estimated Fair Value | Unrealized Losses | ||||||||||||||||||||||||||||||||
| June 30, 2022 | ||||||||||||||||||||||||||||||||||||||
| U.S. Treasuries | $ | i 312,889 | $ | ( i 1,724) | $ | i — | $ | i — | $ | i 312,889 | $ | ( i 1,724) | ||||||||||||||||||||||||||
| U.S. government-sponsored agencies | i 2,021 | ( i 29) | i — | i — | i 2,021 | ( i 29) | ||||||||||||||||||||||||||||||||
| State, county and municipal securities | i 15,199 | ( i 726) | i — | i — | i 15,199 | ( i 726) | ||||||||||||||||||||||||||||||||
| Corporate debt securities | i 12,244 | ( i 256) | i 1,320 | ( i 92) | i 13,564 | ( i 348) | ||||||||||||||||||||||||||||||||
| SBA pool securities | i 31,755 | ( i 1,379) | i 2,310 | ( i 50) | i 34,065 | ( i 1,429) | ||||||||||||||||||||||||||||||||
| Mortgage-backed securities | i 569,386 | ( i 12,427) | i 1 | i — | i 569,387 | ( i 12,427) | ||||||||||||||||||||||||||||||||
| Total debt securities available-for-sale | $ | i 943,494 | $ | ( i 16,541) | $ | i 3,631 | $ | ( i 142) | $ | i 947,125 | $ | ( i 16,683) | ||||||||||||||||||||||||||
| December 31, 2021 | ||||||||||||||||||||||||||||||||||||||
| Corporate debt securities | $ | i — | $ | i — | $ | i 1,380 | $ | ( i 120) | $ | i 1,380 | $ | ( i 120) | ||||||||||||||||||||||||||
| SBA pool securities | i 1,312 | ( i 6) | i 2,572 | ( i 63) | i 3,884 | ( i 69) | ||||||||||||||||||||||||||||||||
| Mortgage-backed securities | i 5,514 | ( i 6) | i 1 | i — | i 5,515 | ( i 6) | ||||||||||||||||||||||||||||||||
| Total debt securities available-for-sale | $ | i 6,826 | $ | ( i 12) | $ | i 3,953 | $ | ( i 183) | $ | i 10,779 | $ | ( i 195) | ||||||||||||||||||||||||||
| Less Than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||||||||||||||||
(dollars in thousands) Securities held-to-maturity | Estimated Fair Value | Unrealized Losses | Estimated Fair Value | Unrealized Losses | Estimated Fair Value | Unrealized Losses | ||||||||||||||||||||||||||||||||
| June 30, 2022 | ||||||||||||||||||||||||||||||||||||||
| State, county and municipal securities | $ | i 27,626 | $ | ( i 4,279) | $ | i — | $ | i — | $ | i 27,626 | $ | ( i 4,279) | ||||||||||||||||||||||||||
| Mortgage-backed securities | i 69,518 | ( i 10,231) | i — | i — | i 69,518 | ( i 10,231) | ||||||||||||||||||||||||||||||||
| Total debt securities held-to-maturity | $ | i 97,144 | $ | ( i 14,510) | $ | i — | $ | i — | $ | i 97,144 | $ | ( i 14,510) | ||||||||||||||||||||||||||
| December 31, 2021 | ||||||||||||||||||||||||||||||||||||||
| State, county and municipal securities | $ | i 3,707 | $ | ( i 198) | $ | i — | $ | i — | $ | i 3,707 | $ | ( i 198) | ||||||||||||||||||||||||||
| Mortgage-backed securities | i 69,495 | ( i 1,450) | i — | i — | i 69,495 | ( i 1,450) | ||||||||||||||||||||||||||||||||
| Total debt securities held-to-maturity | $ | i 73,202 | $ | ( i 1,648) | $ | i — | $ | i — | $ | i 73,202 | $ | ( i 1,648) | ||||||||||||||||||||||||||
| (dollars in thousands) | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||
Allowance for credit losses | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||
| Beginning balance | $ | i — | $ | i 101 | $ | i — | $ | i 112 | |||||||||||||||
| Provision for expected credit losses | i 88 | ( i 20) | i 88 | ( i 31) | |||||||||||||||||||
| Ending balance | $ | i 88 | $ | i 81 | $ | i 88 | $ | i 81 | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| (dollars in thousands) | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||
| Unrealized holding gains (losses) on equity securities | $ | ( i 22) | $ | i 1 | $ | ( i 49) | $ | ( i 11) | |||||||||||||||
| Net realized gains on sales of other investments | i 270 | i — | i 270 | i — | |||||||||||||||||||
| Net gain (loss) on securities | $ | i 248 | $ | i 1 | $ | i 221 | $ | ( i 11) | |||||||||||||||
| (dollars in thousands) | June 30, 2022 | December 31, 2021 | |||||||||
| Commercial, financial and agricultural | $ | i 2,022,845 | $ | i 1,875,993 | |||||||
| Consumer installment | i 167,237 | i 191,298 | |||||||||
| Indirect automobile | i 172,245 | i 265,779 | |||||||||
| Mortgage warehouse | i 949,191 | i 787,837 | |||||||||
| Municipal | i 529,268 | i 572,701 | |||||||||
| Premium finance | i 942,357 | i 798,409 | |||||||||
| Real estate – construction and development | i 1,747,284 | i 1,452,339 | |||||||||
| Real estate – commercial and farmland | i 7,156,017 | i 6,834,917 | |||||||||
| Real estate – residential | i 3,874,578 | i 3,094,985 | |||||||||
| $ | i 17,561,022 | $ | i 15,874,258 | ||||||||
| (dollars in thousands) | June 30, 2022 | December 31, 2021 | |||||||||
| Commercial, financial and agricultural | $ | i 11,742 | $ | i 14,214 | |||||||
| Consumer installment | i 473 | i 476 | |||||||||
| Indirect automobile | i 465 | i 947 | |||||||||
| Real estate – construction and development | i 178 | i 492 | |||||||||
| Real estate – commercial and farmland | i 21,158 | i 15,365 | |||||||||
| Real estate – residential | i 88,896 | i 53,772 | |||||||||
| $ | i 122,912 | $ | i 85,266 | ||||||||
| (dollars in thousands) | June 30, 2022 | December 31, 2021 | |||||||||
| Commercial, financial and agricultural | $ | i — | $ | i 164 | |||||||
| Real estate – construction and development | i — | i 209 | |||||||||
| Real estate – commercial and farmland | i 2,448 | i 2,061 | |||||||||
| Real estate – residential | i 5,071 | i 7,942 | |||||||||
| $ | i 7,519 | $ | i 10,376 | ||||||||
| (dollars in thousands) | Loans 30-59 Days Past Due | Loans 60-89 Days Past Due | Loans 90 or More Days Past Due | Total Loans Past Due | Current Loans | Total Loans | Loans 90 Days or More Past Due and Still Accruing | ||||||||||||||||||||||||||||||||||
| June 30, 2022 | |||||||||||||||||||||||||||||||||||||||||
| Commercial, financial and agricultural | $ | i 3,822 | $ | i 3,725 | $ | i 11,063 | $ | i 18,610 | $ | i 2,004,235 | $ | i 2,022,845 | $ | i 1,697 | |||||||||||||||||||||||||||
| Consumer installment | i 1,132 | i 739 | i 699 | i 2,570 | i 164,667 | i 167,237 | i 466 | ||||||||||||||||||||||||||||||||||
| Indirect automobile | i 394 | i 137 | i 296 | i 827 | i 171,418 | i 172,245 | i — | ||||||||||||||||||||||||||||||||||
| Mortgage warehouse | i — | i — | i — | i — | i 949,191 | i 949,191 | i — | ||||||||||||||||||||||||||||||||||
| Municipal | i — | i — | i — | i — | i 529,268 | i 529,268 | i — | ||||||||||||||||||||||||||||||||||
| Premium finance | i 7,462 | i 6,398 | i 5,795 | i 19,655 | i 922,702 | i 942,357 | i 5,795 | ||||||||||||||||||||||||||||||||||
| Real estate – construction and development | i 18,050 | i 5,677 | i 633 | i 24,360 | i 1,722,924 | i 1,747,284 | i 584 | ||||||||||||||||||||||||||||||||||
| Real estate – commercial and farmland | i 2,706 | i 11,334 | i 3,666 | i 17,705 | i 7,138,312 | i 7,156,017 | i — | ||||||||||||||||||||||||||||||||||
| Real estate – residential | i 27,385 | i 8,877 | i 86,400 | i 122,662 | i 3,751,916 | i 3,874,578 | i — | ||||||||||||||||||||||||||||||||||
| Total | $ | i 60,951 | $ | i 36,887 | $ | i 108,552 | $ | i 206,389 | $ | i 17,354,633 | $ | i 17,561,022 | $ | i 8,542 | |||||||||||||||||||||||||||
| December 31, 2021 | |||||||||||||||||||||||||||||||||||||||||
| Commercial, financial and agricultural | $ | i 3,431 | $ | i 2,005 | $ | i 12,017 | $ | i 17,453 | $ | i 1,858,540 | $ | i 1,875,993 | $ | i 1,165 | |||||||||||||||||||||||||||
| Consumer installment | i 1,786 | i 871 | i 891 | i 3,548 | i 187,750 | i 191,298 | i 584 | ||||||||||||||||||||||||||||||||||
| Indirect automobile | i 772 | i 185 | i 473 | i 1,430 | i 264,349 | i 265,779 | i — | ||||||||||||||||||||||||||||||||||
| Mortgage warehouse | i — | i — | i — | i — | i 787,837 | i 787,837 | i — | ||||||||||||||||||||||||||||||||||
| Municipal | i — | i — | i — | i — | i 572,701 | i 572,701 | i — | ||||||||||||||||||||||||||||||||||
| Premium finance | i 6,992 | i 4,340 | i 9,134 | i 20,466 | i 777,943 | i 798,409 | i 9,134 | ||||||||||||||||||||||||||||||||||
| Real estate – construction and development | i 16,601 | i 1,398 | i 2,190 | i 20,189 | i 1,432,150 | i 1,452,339 | i 1,758 | ||||||||||||||||||||||||||||||||||
| Real estate – commercial and farmland | i 6,713 | i 1,150 | i 5,924 | i 13,787 | i 6,821,130 | i 6,834,917 | i 7 | ||||||||||||||||||||||||||||||||||
| Real estate – residential | i 17,729 | i 4,266 | i 49,839 | i 71,834 | i 3,023,151 | i 3,094,985 | i — | ||||||||||||||||||||||||||||||||||
| Total | $ | i 54,024 | $ | i 14,215 | $ | i 80,468 | $ | i 148,707 | $ | i 15,725,551 | $ | i 15,874,258 | $ | i 12,648 | |||||||||||||||||||||||||||
| June 30, 2022 | December 31, 2021 | ||||||||||||||||||||||
| (dollars in thousands) | Balance | Allowance for Credit Losses | Balance | Allowance for Credit Losses | |||||||||||||||||||
| Commercial, financial and agricultural | $ | i 1,695 | $ | i 168 | $ | i 2,613 | $ | i 723 | |||||||||||||||
| Premium finance | i 1,136 | i 91 | i 2,989 | i 30 | |||||||||||||||||||
| Real estate – construction and development | i — | i — | i 1,432 | i 45 | |||||||||||||||||||
| Real estate – commercial and farmland | i 22,820 | i 2,096 | i 33,332 | i 6,646 | |||||||||||||||||||
| Real estate – residential | i 14,317 | i 1,580 | i 11,712 | i 453 | |||||||||||||||||||
| $ | i 39,968 | $ | i 3,935 | $ | i 52,078 | $ | i 7,897 | ||||||||||||||||
As
of June 30, 2022 | Term Loans by Origination Year | Revolving Loans Amortized Cost Basis | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2022 | 2021 | 2020 | 2019 | 2018 | Prior | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial, Financial and Agricultural | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | $ | i 527,870 | $ | i 637,107 | $ | i 214,934 | $ | i 143,779 | $ | i 85,058 | $ | i 59,648 | $ | i 331,032 | $ | i 1,999,428 | ||||||||||||||||||||||||||||||||||||||||
| 6 | i — | i 151 | i 92 | i 274 | i 160 | i 2,881 | i 794 | i 4,352 | ||||||||||||||||||||||||||||||||||||||||||||||||
| 7 | i 6,618 | i 1,160 | i 445 | i 3,122 | i 1,400 | i 4,151 | i 2,169 | i 19,065 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Total commercial, financial and agricultural | $ | i 534,488 | $ | i 638,418 | $ | i 215,471 | $ | i 147,175 | $ | i 86,618 | $ | i 66,680 | $ | i 333,995 | $ | i 2,022,845 | ||||||||||||||||||||||||||||||||||||||||
| Consumer Installment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | $ | i 25,920 | $ | i 18,153 | $ | i 46,134 | $ | i 28,754 | $ | i 21,530 | $ | i 16,607 | $ | i 8,804 | $ | i 165,902 | ||||||||||||||||||||||||||||||||||||||||
| 6 | i — | i — | i — | i — | i — | i 130 | i 5 | i 135 | ||||||||||||||||||||||||||||||||||||||||||||||||
| 7 | i 24 | i 81 | i 321 | i 169 | i 89 | i 430 | i 86 | i 1,200 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Total consumer installment | $ | i 25,944 | $ | i 18,234 | $ | i 46,455 | $ | i 28,923 | $ | i 21,619 | $ | i 17,167 | $ | i 8,895 | $ | i 167,237 | ||||||||||||||||||||||||||||||||||||||||
| Indirect Automobile | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | $ | i — | $ | i — | $ | i — | $ | i 15,350 | $ | i 72,999 | $ | i 82,645 | $ | i — | $ | i 170,994 | ||||||||||||||||||||||||||||||||||||||||
| 6 | i — | i — | i — | i — | i — | i 20 | i — | i 20 | ||||||||||||||||||||||||||||||||||||||||||||||||
| 7 | i — | i — | i — | i 50 | i 224 | i 957 | i — | i 1,231 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Total indirect automobile | $ | i — | $ | i — | $ | i — | $ | i 15,400 | $ | i 73,223 | $ | i 83,622 | $ | i — | $ | i 172,245 | ||||||||||||||||||||||||||||||||||||||||
| Mortgage Warehouse | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i 949,191 | $ | i 949,191 | ||||||||||||||||||||||||||||||||||||||||
| Total mortgage warehouse | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i 949,191 | $ | i 949,191 | ||||||||||||||||||||||||||||||||||||||||
| Municipal | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | $ | i 10,775 | $ | i 43,922 | $ | i 194,357 | $ | i 13,779 | $ | i 4,853 | $ | i 261,582 | $ | i — | $ | i 529,268 | ||||||||||||||||||||||||||||||||||||||||
| Total municipal | $ | i 10,775 | $ | i 43,922 | $ | i 194,357 | $ | i 13,779 | $ | i 4,853 | $ | i 261,582 | $ | i — | $ | i 529,268 | ||||||||||||||||||||||||||||||||||||||||
| Premium Finance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | $ | i 790,855 | $ | i 146,821 | $ | i 110 | $ | i — | $ | i — | $ | i 75 | $ | i — | $ | i 937,861 | ||||||||||||||||||||||||||||||||||||||||
| 7 | i 1,766 | i 2,729 | i 1 | i — | i — | i — | i — | i 4,496 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Total premium finance | $ | i 792,621 | $ | i 149,550 | $ | i 111 | $ | i — | $ | i — | $ | i 75 | $ | i — | $ | i 942,357 | ||||||||||||||||||||||||||||||||||||||||
| Real Estate – Construction and Development | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | $ | i 380,485 | $ | i 844,549 | $ | i 299,850 | $ | i 128,437 | $ | i 12,891 | $ | i 30,227 | $ | i 26,205 | $ | i 1,722,644 | ||||||||||||||||||||||||||||||||||||||||
| 6 | i 4,330 | i 5,241 | i 432 | i — | i 48 | i 580 | i — | i 10,631 | ||||||||||||||||||||||||||||||||||||||||||||||||
| 7 | i 216 | i 218 | i 211 | i 26 | i 13,079 | i 259 | i — | i 14,009 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Total real estate – construction and development | $ | i 385,031 | $ | i 850,008 | $ | i 300,493 | $ | i 128,463 | $ | i 26,018 | $ | i 31,066 | $ | i 26,205 | $ | i 1,747,284 | ||||||||||||||||||||||||||||||||||||||||
As
of June 30, 2022 | Term Loans by Origination Year | Revolving Loans Amortized Cost Basis | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2022 | 2021 | 2020 | 2019 | 2018 | Prior | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Real Estate – Commercial and Farmland | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | $ | i 993,793 | $ | i 2,069,024 | $ | i 1,150,513 | $ | i 891,580 | $ | i 496,721 | $ | i 1,373,284 | $ | i 72,965 | $ | i 7,047,880 | ||||||||||||||||||||||||||||||||||||||||
| 6 | i 607 | i — | i — | i 29,343 | i 1,163 | i 18,007 | i — | i 49,120 | ||||||||||||||||||||||||||||||||||||||||||||||||
| 7 | i — | i 3,259 | i 2,588 | i 13,777 | i 6,967 | i 32,408 | i 18 | i 59,017 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Total real estate – commercial and farmland | $ | i 994,400 | $ | i 2,072,283 | $ | i 1,153,101 | $ | i 934,700 | $ | i 504,851 | $ | i 1,423,699 | $ | i 72,983 | $ | i 7,156,017 | ||||||||||||||||||||||||||||||||||||||||
| Real Estate - Residential | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | $ | i 880,233 | $ | i 1,243,230 | $ | i 582,823 | $ | i 290,790 | $ | i 123,347 | $ | i 438,034 | $ | i 214,894 | $ | i 3,773,351 | ||||||||||||||||||||||||||||||||||||||||
| 6 | i 64 | i 218 | i 47 | i 608 | i 508 | i 2,680 | i 61 | i 4,186 | ||||||||||||||||||||||||||||||||||||||||||||||||
| 7 | i 268 | i 9,398 | i 18,956 | i 29,041 | i 14,331 | i 23,395 | i 1,652 | i 97,041 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Total real estate - residential | $ | i 880,565 | $ | i 1,252,846 | $ | i 601,826 | $ | i 320,439 | $ | i 138,186 | $ | i 464,109 | $ | i 216,607 | $ | i 3,874,578 | ||||||||||||||||||||||||||||||||||||||||
| Total Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | $ | i 3,609,931 | $ | i 5,002,806 | $ | i 2,488,721 | $ | i 1,512,469 | $ | i 817,399 | $ | i 2,262,102 | $ | i 1,603,091 | $ | i 17,296,519 | ||||||||||||||||||||||||||||||||||||||||
| 6 | i 5,001 | i 5,610 | i 571 | i 30,225 | i 1,879 | i 24,298 | i 860 | i 68,444 | ||||||||||||||||||||||||||||||||||||||||||||||||
| 7 | i 8,892 | i 16,845 | i 22,522 | i 46,185 | i 36,090 | i 61,600 | i 3,925 | i 196,059 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Total loans | $ | i 3,623,824 | $ | i 5,025,261 | $ | i 2,511,814 | $ | i 1,588,879 | $ | i 855,368 | $ | i 2,348,000 | $ | i 1,607,876 | $ | i 17,561,022 | ||||||||||||||||||||||||||||||||||||||||
As
of December 31, 2021 | Term Loans by Origination Year | Revolving Loans Amortized Cost Basis | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2021 | 2020 | 2019 | 2018 | 2017 | Prior | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial, Financial and Agricultural | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | $ | i 903,630 | $ | i 279,037 | $ | i 188,810 | $ | i 118,613 | $ | i 50,737 | $ | i 40,376 | $ | i 262,951 | $ | i 1,844,154 | ||||||||||||||||||||||||||||||||||||||||
| 6 | i 190 | i — | i 393 | i 427 | i 368 | i 1,832 | i 1,961 | i 5,171 | ||||||||||||||||||||||||||||||||||||||||||||||||
| 7 | i 9,216 | i 1,268 | i 4,098 | i 1,472 | i 2,566 | i 6,019 | i 2,029 | i 26,668 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Total commercial, financial and agricultural | $ | i 913,036 | $ | i 280,305 | $ | i 193,301 | $ | i 120,512 | $ | i 53,671 | $ | i 48,227 | $ | i 266,941 | $ | i 1,875,993 | ||||||||||||||||||||||||||||||||||||||||
| Consumer Installment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | $ | i 35,781 | $ | i 59,221 | $ | i 37,195 | $ | i 27,266 | $ | i 9,787 | $ | i 11,021 | $ | i 9,437 | $ | i 189,708 | ||||||||||||||||||||||||||||||||||||||||
| 6 | i — | i — | i — | i — | i — | i 135 | i 5 | i 140 | ||||||||||||||||||||||||||||||||||||||||||||||||
| 7 | i 59 | i 283 | i 290 | i 216 | i 103 | i 405 | i 94 | i 1,450 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Total consumer installment | $ | i 35,840 | $ | i 59,504 | $ | i 37,485 | $ | i 27,482 | $ | i 9,890 | $ | i 11,561 | $ | i 9,536 | $ | i 191,298 | ||||||||||||||||||||||||||||||||||||||||
| Indirect Automobile | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | $ | i — | $ | i — | $ | i 20,276 | $ | i 101,969 | $ | i 90,294 | $ | i 51,468 | $ | i — | $ | i 264,007 | ||||||||||||||||||||||||||||||||||||||||
| 6 | i — | i — | i — | i 24 | i 10 | i 19 | i — | i 53 | ||||||||||||||||||||||||||||||||||||||||||||||||
| 7 | i — | i — | i 55 | i 234 | i 384 | i 1,046 | i — | i 1,719 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Total indirect automobile | $ | i — | $ | i — | $ | i 20,331 | $ | i 102,227 | $ | i 90,688 | $ | i 52,533 | $ | i — | $ | i 265,779 | ||||||||||||||||||||||||||||||||||||||||
As
of December 31, 2021 | Term Loans by Origination Year | Revolving Loans Amortized Cost Basis | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2021 | 2020 | 2019 | 2018 | 2017 | Prior | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Mortgage Warehouse | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i 787,837 | $ | i 787,837 | ||||||||||||||||||||||||||||||||||||||||
| Total mortgage warehouse | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i — | $ | i 787,837 | $ | i 787,837 | ||||||||||||||||||||||||||||||||||||||||
| Municipal | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | $ | i 44,727 | $ | i 219,385 | $ | i 14,831 | $ | i 5,494 | $ | i 109,040 | $ | i 179,224 | $ | i — | $ | i 572,701 | ||||||||||||||||||||||||||||||||||||||||
| Total municipal | $ | i 44,727 | $ | i 219,385 | $ | i 14,831 | $ | i 5,494 | $ | i 109,040 | $ | i 179,224 | $ | i — | $ | i 572,701 | ||||||||||||||||||||||||||||||||||||||||
| Premium Finance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | $ | i 787,884 | $ | i 1,059 | $ | i 26 | $ | i — | $ | i 302 | $ | i 4 | $ | i — | $ | i 789,275 | ||||||||||||||||||||||||||||||||||||||||
| 7 | i 9,039 | i 95 | i — | i — | i — | i — | i — | i 9,134 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Total premium finance | $ | i 796,923 | $ | i 1,154 | $ | i 26 | $ | i — | $ | i 302 | $ | i 4 | $ | i — | $ | i 798,409 | ||||||||||||||||||||||||||||||||||||||||
| Real Estate – Construction and Development | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | $ | i 826,094 | $ | i 290,814 | $ | i 176,476 | $ | i 35,773 | $ | i 24,533 | $ | i 44,514 | $ | i 21,267 | $ | i 1,419,471 | ||||||||||||||||||||||||||||||||||||||||
| 6 | i 6,527 | i 549 | i — | i 15,260 | i — | i 2,101 | i — | i 24,437 | ||||||||||||||||||||||||||||||||||||||||||||||||
| 7 | i 1,143 | i 678 | i 7 | i 2,476 | i 57 | i 1,011 | i 3,059 | i 8,431 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Total real estate – construction and development | $ | i 833,764 | $ | i 292,041 | $ | i 176,483 | $ | i 53,509 | $ | i 24,590 | $ | i 47,626 | $ | i 24,326 | $ | i 1,452,339 | ||||||||||||||||||||||||||||||||||||||||
| Real Estate – Commercial and Farmland | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | $ | i 2,186,291 | $ | i 1,205,578 | $ | i 1,119,239 | $ | i 542,295 | $ | i 486,477 | $ | i 1,103,675 | $ | i 80,379 | $ | i 6,723,934 | ||||||||||||||||||||||||||||||||||||||||
| 6 | i 416 | i — | i 1,036 | i 14,760 | i 5,334 | i 21,665 | i — | i 43,211 | ||||||||||||||||||||||||||||||||||||||||||||||||
| 7 | i 4,709 | i 2,682 | i 11,109 | i 9,076 | i 4,861 | i 35,315 | i 20 | i 67,772 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Total real estate – commercial and farmland | $ | i 2,191,416 | $ | i 1,208,260 | $ | i 1,131,384 | $ | i 566,131 | $ | i 496,672 | $ | i 1,160,655 | $ | i 80,399 | $ | i 6,834,917 | ||||||||||||||||||||||||||||||||||||||||
| Real Estate - Residential | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | $ | i 1,171,008 | $ | i 638,232 | $ | i 329,247 | $ | i 149,990 | $ | i 108,538 | $ | i 408,240 | $ | i 217,982 | $ | i 3,023,237 | ||||||||||||||||||||||||||||||||||||||||
| 6 | i 145 | i 66 | i 1,106 | i 505 | i 356 | i 3,717 | i 49 | i 5,944 | ||||||||||||||||||||||||||||||||||||||||||||||||
| 7 | i 2,405 | i 10,167 | i 21,239 | i 11,376 | i 4,597 | i 13,970 | i 2,050 | i 65,804 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Total real estate - residential | $ | i 1,173,558 | $ | i 648,465 | $ | i 351,592 | $ | i 161,871 | $ | i 113,491 | $ | i 425,927 | $ | i 220,081 | $ | i 3,094,985 | ||||||||||||||||||||||||||||||||||||||||
| Total Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Grade: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pass | $ | i 5,955,415 | $ | i 2,693,326 | $ | i 1,886,100 | $ | i 981,400 | $ | i 879,708 | $ | i 1,838,522 | $ | i 1,379,853 | $ | i 15,614,324 | ||||||||||||||||||||||||||||||||||||||||
| 6 | i 7,278 | i 615 | i 2,535 | i 30,976 | i 6,068 | i 29,469 | i 2,015 | i 78,956 | ||||||||||||||||||||||||||||||||||||||||||||||||
| 7 | i 26,571 | i 15,173 | i 36,798 | i 24,850 | i 12,568 | i 57,766 | i 7,252 | i 180,978 | ||||||||||||||||||||||||||||||||||||||||||||||||
| Total loans | $ | i 5,989,264 | $ | i 2,709,114 | $ | i 1,925,433 | $ | i 1,037,226 | $ | i 898,344 | $ | i 1,925,757 | $ | i 1,389,120 | $ | i 15,874,258 | ||||||||||||||||||||||||||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||||||||||||||||||||||||||
| 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||||||||||||||||||||||||||
| Loan Class | # | Balance (in thousands) | # | Balance (in
thousands) | # | Balance (in thousands) | # | Balance (in thousands) | |||||||||||||||||||||||||||||||||||||||
| Commercial, financial and agricultural | i 2 | $ | i 502 | i 2 | $ | i 165 | i 2 | $ | i 502 | i 6 | $ | i 591 | |||||||||||||||||||||||||||||||||||
| Consumer installment | i — | i — | i 2 | i 8 | i — | i — | i 2 | i 8 | |||||||||||||||||||||||||||||||||||||||
| Premium finance | i 2 | i 756 | i — | i — | i 6 | i 993 | i — | i — | |||||||||||||||||||||||||||||||||||||||
| Real estate – commercial and farmland | i 2 | i 578 | i 3 | i 8,653 | i 2 | i 578 | i 5 | i 16,312 | |||||||||||||||||||||||||||||||||||||||
| Real estate – residential | i 2 | i 462 | i 2 | i 472 | i 5 | i 1,437 | i 12 | i 1,457 | |||||||||||||||||||||||||||||||||||||||
| Total | i 8 | $ | i 2,298 | i 9 | $ | i 9,298 | i 15 | $ | i 3,510 | i 25 | $ | i 18,368 | |||||||||||||||||||||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||||||||||||||||||||||||||
| 2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||||||||||||||||||||||||||
| Loan Class | # | Balance (in thousands) | # | Balance (in
thousands) | # | Balance (in thousands) | # | Balance (in thousands) | |||||||||||||||||||||||||||||||||||||||
| Commercial, financial and agricultural | i — | $ | i — | i — | $ | i — | i 1 | $ | i 357 | i 3 | $ | i 49 | |||||||||||||||||||||||||||||||||||
| Consumer installment | i — | i — | i — | i — | i 2 | i 3 | i 4 | i 5 | |||||||||||||||||||||||||||||||||||||||
| Indirect automobile | i 3 | i 2 | i 7 | i 27 | i 12 | i 22 | i 22 | i 112 | |||||||||||||||||||||||||||||||||||||||
| Real estate – construction and development | i — | i — | i — | i — | i — | i — | i 1 | i 1 | |||||||||||||||||||||||||||||||||||||||
| Real estate – commercial and farmland | i — | i — | i 1 | i 202 | i 1 | i 8 | i 3 | i 5,382 | |||||||||||||||||||||||||||||||||||||||
| Real estate – residential | i 11 | i 1,071 | i 17 | i 940 | i 21 | i 2,791 | i 27 | i 1,646 | |||||||||||||||||||||||||||||||||||||||
| Total | i 14 | $ | i 1,073 | i 25 | $ | i 1,169 | i 37 | $ | i 3,181 | i 60 | $ | i 7,195 | |||||||||||||||||||||||||||||||||||
| June 30, 2022 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||
| Loan Class | # | Balance (in thousands) | # | Balance (in thousands) | |||||||||||||||||||
| Commercial, financial and agricultural | i 9 | $ | i 964 | i 3 | $ | i 364 | |||||||||||||||||
| Consumer installment | i 4 | i 9 | i 10 | i 14 | |||||||||||||||||||
| Indirect automobile | i 196 | i 759 | i 30 | i 122 | |||||||||||||||||||
| Premium finance | i 6 | i 993 | i — | i — | |||||||||||||||||||
| Real estate – construction and development | i 2 | i 706 | i — | i — | |||||||||||||||||||
| Real estate – commercial and farmland | i 18 | i 8,213 | i 4 | i 788 | |||||||||||||||||||
| Real estate – residential | i 210 | i 24,456 | i 31 | i 4,369 | |||||||||||||||||||
| Total | i 445 | $ | i 36,100 | i 78 | $ | i 5,657 | |||||||||||||||||
| December 31, 2021 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||
| Loan Class | # | Balance (in thousands) | # | Balance (in thousands) | |||||||||||||||||||
| Commercial, financial and agricultural | i 12 | $ | i 1,286 | i 6 | $ | i 83 | |||||||||||||||||
| Consumer installment | i 7 | i 16 | i 17 | i 35 | |||||||||||||||||||
| Indirect automobile | i 233 | i 1,037 | i 52 | i 273 | |||||||||||||||||||
| Real estate – construction and development | i 4 | i 789 | i 1 | i 13 | |||||||||||||||||||
| Real estate – commercial and farmland | i 25 | i 35,575 | i 5 | i 5,924 | |||||||||||||||||||
| Real estate – residential | i 213 | i 26,879 | i 39 | i 4,678 | |||||||||||||||||||
| Total | i 494 | $ | i 65,582 | i 120 | $ | i 11,006 | |||||||||||||||||
| Three Months Ended June 30, 2022 | |||||||||||||||||||||||||||||||||||
| (dollars in thousands) | Commercial, Financial and Agricultural | Consumer Installment | Indirect Automobile | Mortgage Warehouse | Municipal | Premium Finance | |||||||||||||||||||||||||||||
| Balance, March 31, 2022 | $ | i 25,526 | $ | i 5,619 | $ | i 373 | $ | i 3,010 | $ | i 384 | $ | i 2,515 | |||||||||||||||||||||||
| Provision for loan losses | i 1,738 | i 557 | ( i 306) | i 875 | ( i 13) | i 200 | |||||||||||||||||||||||||||||
| Loans charged off | ( i 4,391) | ( i 1,137) | ( i 41) | i — | i — | ( i 1,066) | |||||||||||||||||||||||||||||
| Recoveries of loans previously charged off | i 2,785 | i 230 | i 265 | i — | i — | i 1,113 | |||||||||||||||||||||||||||||
| Balance, June 30, 2022 | $ | i 25,658 | $ | i 5,269 | $ | i 291 | $ | i 3,885 | $ | i 371 | $ | i 2,762 | |||||||||||||||||||||||
| Real Estate – Construction and Development | Real Estate – Commercial and Farmland | Real Estate – Residential | Total | ||||||||||||||||||||||||||||||||
| Balance, March 31, 2022 | $ | i 26,831 | $ | i 67,033 | $ | i 29,960 | $ | i 161,251 | |||||||||||||||||||||||||||
| Provision for loan losses | ( i 3,954) | ( i 7,647) | i 21,777 | i 13,227 | |||||||||||||||||||||||||||||||
| Loans charged off | i — | ( i 81) | ( i 137) | ( i 6,853) | |||||||||||||||||||||||||||||||
| Recoveries of loans previously charged off | i 355 | i 44 | i 225 | i 5,017 | |||||||||||||||||||||||||||||||
| Balance, June 30, 2022 | $ | i 23,232 | $ | i 59,349 | $ | i 51,825 | $ | i 172,642 | |||||||||||||||||||||||||||
| Six Months Ended June 30, 2022 | |||||||||||||||||||||||||||||||||||
| (dollars in thousands) | Commercial, Financial and Agricultural | Consumer Installment | Indirect Automobile | Mortgage Warehouse | Municipal | Premium Finance | |||||||||||||||||||||||||||||
| Balance, December 31, 2021 | $ | i 26,829 | $ | i 6,097 | $ | i 476 | $ | i 3,231 | $ | i 401 | $ | i 2,729 | |||||||||||||||||||||||
| Provision for loan losses | i 1,953 | i 1,346 | ( i 596) | i 654 | ( i 30) | i 108 | |||||||||||||||||||||||||||||
| Loans charged off | ( i 8,805) | ( i 2,562) | ( i 129) | i — | i — | ( i 2,435) | |||||||||||||||||||||||||||||
| Recoveries of loans previously charged off | i 5,681 | i 388 | i 540 | i — | i — | i 2,360 | |||||||||||||||||||||||||||||
| Balance, June 30, 2022 | $ | i 25,658 | $ | i 5,269 | $ | i 291 | $ | i 3,885 | $ | i 371 | $ | i 2,762 | |||||||||||||||||||||||
| Real Estate – Construction and Development | Real Estate – Commercial and Farmland | Real Estate – Residential | Total | ||||||||||||||||||||||||||||||||
| Balance, December 31, 2021 | $ | i 22,045 | $ | i 77,831 | $ | i 27,943 | $ | i 167,582 | |||||||||||||||||||||||||||
| Provision for loan losses | i 614 | ( i 17,199) | i 23,643 | i 10,493 | |||||||||||||||||||||||||||||||
| Loans charged off | i — | ( i 1,364) | ( i 137) | ( i 15,432) | |||||||||||||||||||||||||||||||
| Recoveries of loans previously charged off | i 573 | i 81 | i 376 | i 9,999 | |||||||||||||||||||||||||||||||
| Balance, June 30, 2022 | $ | i 23,232 | $ | i 59,349 | $ | i 51,825 | $ | i 172,642 | |||||||||||||||||||||||||||
| Three Months Ended June 30, 2021 | |||||||||||||||||||||||||||||||||||
| (dollars in thousands) | Commercial, Financial and Agricultural | Consumer Installment | Indirect Automobile | Mortgage Warehouse | Municipal | Premium Finance | |||||||||||||||||||||||||||||
| Balance, March 31, 2021 | $ | i 8,291 | $ | i 8,790 | $ | i 1,272 | $ | i 3,521 | $ | i 790 | $ | i 4,100 | |||||||||||||||||||||||
| Provision for loan losses | i 1,502 | i 491 | ( i 423) | ( i 156) | ( i 13) | ( i 833) | |||||||||||||||||||||||||||||
| Loans charged off | ( i 3,529) | ( i 1,669) | ( i 141) | i — | i — | ( i 1,194) | |||||||||||||||||||||||||||||
| Recoveries of loans previously charged off | i 625 | i 212 | i 372 | i — | i — | i 2,466 | |||||||||||||||||||||||||||||
| Balance, June 30, 2021 | $ | i 6,889 | $ | i 7,824 | $ | i 1,080 | $ | i 3,365 | $ | i 777 | $ | i 4,539 | |||||||||||||||||||||||
| Real Estate – Construction and Development | Real Estate – Commercial and Farmland | Real Estate – Residential | Total | ||||||||||||||||||||||||||||||||
| Balance, March 31, 2021 | $ | i 22,858 | $ | i 91,211 | $ | i 37,737 | $ | i 178,570 | |||||||||||||||||||||||||||
| Provision for loan losses | ( i 3,757) | ( i 3,031) | i 5,321 | ( i 899) | |||||||||||||||||||||||||||||||
| Loans charged off | ( i 186) | ( i 27) | ( i 392) | ( i 7,138) | |||||||||||||||||||||||||||||||
| Recoveries of loans previously charged off | i 84 | i 185 | i 593 | i 4,537 | |||||||||||||||||||||||||||||||
| Balance, June 30, 2021 | $ | i 18,999 | $ | i 88,338 | $ | i 43,259 | $ | i 175,070 | |||||||||||||||||||||||||||
| Six Months Ended June 30, 2021 | |||||||||||||||||||||||||||||||||||
| (dollars in thousands) | Commercial, Financial and Agricultural | Consumer Installment | Indirect Automobile | Mortgage Warehouse | Municipal | Premium Finance | |||||||||||||||||||||||||||||
| Balance, December 31, 2020 | $ | i 7,359 | $ | i 4,076 | $ | i 1,929 | $ | i 3,666 | $ | i 791 | $ | i 3,879 | |||||||||||||||||||||||
| Provision for loan losses | i 4,077 | i 6,297 | ( i 951) | ( i 301) | ( i 14) | ( i 391) | |||||||||||||||||||||||||||||
| Loans charged off | ( i 5,899) | ( i 3,117) | ( i 970) | i — | i — | ( i 2,537) | |||||||||||||||||||||||||||||
| Recoveries of loans previously charged off | i 1,352 | i 568 | i 1,072 | i — | i — | i 3,588 | |||||||||||||||||||||||||||||
| Balance, June 30, 2021 | $ | i 6,889 | $ | i 7,824 | $ | i 1,080 | $ | i 3,365 | $ | i 777 | $ | i 4,539 | |||||||||||||||||||||||
| Real Estate – Construction and Development | Real Estate – Commercial and Farmland | Real Estate – Residential | Total | ||||||||||||||||||||||||||||||||
| Balance, December 31, 2020 | $ | i 45,304 | $ | i 88,894 | $ | i 43,524 | $ | i 199,422 | |||||||||||||||||||||||||||
| Provision for loan losses | ( i 26,344) | i 640 | ( i 491) | ( i 17,478) | |||||||||||||||||||||||||||||||
| Loans charged off | ( i 212) | ( i 1,422) | ( i 555) | ( i 14,712) | |||||||||||||||||||||||||||||||
| Recoveries of loans previously charged off | i 251 | i 226 | i 781 | i 7,838 | |||||||||||||||||||||||||||||||
| Balance, June 30, 2021 | $ | i 18,999 | $ | i 88,338 | $ | i 43,259 | $ | i 175,070 | |||||||||||||||||||||||||||
| (dollars in thousands) | June 30, 2022 | December 31, 2021 | |||||||||
| Securities sold under agreements to repurchase | $ | i 953 | $ | i 5,845 | |||||||
| (dollars in thousands) | June 30, 2022 | December 31, 2021 | |||||||||
| FHLB borrowings: | |||||||||||
Fixed
Rate Advance due March 3, 2025; fixed interest rate of i 1.208% | $ | i 15,000 | $ | i 15,000 | |||||||
Fixed
Rate Advance due March 2, 2027; fixed interest rate of i 1.445% | i 15,000 | i 15,000 | |||||||||
Fixed
Rate Advance due March 4, 2030; fixed interest rate of i 1.606% | i 15,000 | i 15,000 | |||||||||
Fixed
Rate Advance due December 9, 2030; fixed interest rate of i 4.55% | i 1,394 | i 1,400 | |||||||||
Fixed
Rate Advance due December 9, 2030; fixed interest rate of i 4.55% | i 965 | i 969 | |||||||||
Principal
Reducing Advance due September 29, 2031; fixed interest rate of i 3.095% | i 1,348 | i 1,421 | |||||||||
| Subordinated notes payable: | |||||||||||
Subordinated notes payable due June 1, 2026, net of unaccreted purchase accounting fair value adjustment of $ i — and $ i 500,
respectively; fixed interest rate of i 5.50% | i — | i 50,500 | |||||||||
Subordinated
notes payable due March 15, 2027 net of unamortized debt issuance cost of $ i 616 and $ i 681, respectively; fixed interest rate of i 5.75%
through March 14, 2022; variable interest rate thereafter at three-month LIBOR plus i 3.616% | i 74,384 | i 74,319 | |||||||||
Subordinated
notes payable due December 15, 2029 net of unamortized debt issuance cost of $ i 1,801 and $ i 1,923, respectively;
fixed interest rate of i 4.25% through December 14, 2024; variable interest rate thereafter at three-month SOFR plus i 2.94% | i 118,199 | i 118,077 | |||||||||
Subordinated
notes payable due May 31, 2030 net of unaccreted purchase accounting fair value adjustment of $ i 967 and $ i 1,028,
respectively; fixed interest rate of i 5.875% through May 31, 2025; variable interest rate thereafter at three-month LIBOR plus i 3.63% | i 75,967 | i 76,028 | |||||||||
Subordinated
notes payable due October 1, 2030 net of unamortized debt issuance cost of $ i 1,665 and $ i 1,766, respectively;
fixed interest rate of i 3.875% through September 30, 2025; variable interest rate thereafter at three-month SOFR plus i 3.753% | i 108,335 | i 108,234 | |||||||||
| Securitization Facilities: | |||||||||||
Equipment contract backed notes, Series 2018-1 (BCC XIV) due on various dates through 2025 and bear a weighted-average interest rate of i 5.11% | i — | i 19,199 | |||||||||
Equipment
contract backed notes, Series 2019-1 (BCC XVI) due on various dates through 2027 and bear a weighted-average interest rate of i 2.84% | i — | i 139,329 | |||||||||
Equipment
contract backed notes, Series 2020-1 (BCC XVII) due on various dates through 2027 and bear a weighted-average interest rate of i 1.48% | i — | i 105,403 | |||||||||
| $ | i 425,592 | $ | i 739,879 | ||||||||
| (dollars in thousands) | Unrealized Gain (Loss) on Securities | Accumulated Other
Comprehensive Income (Loss) | ||||||||||||||||||
| Three Months Ended June 30, 2022 | ||||||||||||||||||||
| Balance, March 31, 2022 | $ | ( i 1,841) | $ | ( i 1,841) | ||||||||||||||||
| Reclassification for gains included in net income, net of tax | i — | i — | ||||||||||||||||||
| Current year changes, net of tax | ( i 10,794) | ( i 10,794) | ||||||||||||||||||
| Balance, June 30, 2022 | $ | ( i 12,635) | $ | ( i 12,635) | ||||||||||||||||
| Three Months Ended June 30, 2021 | ||||||||||||||||||||
| Balance, March 31, 2021 | $ | i 26,090 | $ | i 26,090 | ||||||||||||||||
| Reclassification for gains included in net income, net of tax | i — | i — | ||||||||||||||||||
| Current year changes, net of tax | ( i 1,066) | ( i 1,066) | ||||||||||||||||||
| Balance, June 30, 2021 | $ | i 25,024 | $ | i 25,024 | ||||||||||||||||
| Six Months Ended June 30, 2022 | ||||||||||||||||||||
| Balance, December 31, 2021 | $ | i 15,590 | $ | i 15,590 | ||||||||||||||||
| Reclassification for gains included in net income, net of tax | i — | i — | ||||||||||||||||||
| Current year changes, net of tax | ( i 28,225) | ( i 28,225) | ||||||||||||||||||
| Balance, June 30, 2022 | $ | ( i 12,635) | $ | ( i 12,635) | ||||||||||||||||
| Six Months Ended June 30, 2021 | ||||||||||||||||||||
| Balance, December 31, 2020 | $ | i 33,505 | $ | i 33,505 | ||||||||||||||||
| Reclassification for gains included in net income, net of tax | i — | i — | ||||||||||||||||||
| Current year changes, net of tax | ( i 8,481) | ( i 8,481) | ||||||||||||||||||
| Balance, June 30, 2021 | $ | i 25,024 | $ | i 25,024 | ||||||||||||||||
| Three
Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| (share data in thousands) | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||
| Average common shares outstanding | i 69,136 | i 69,497 | i 69,246 | i 69,448 | |||||||||||||||||||
| Common share equivalents: | |||||||||||||||||||||||
| Stock options | i 16 | i 64 | i 24 | i 74 | |||||||||||||||||||
| Nonvested restricted share grants | i 46 | i 151 | i 97 | i 153 | |||||||||||||||||||
| Performance stock units | i 118 | i 80 | i 118 | i 90 | |||||||||||||||||||
| Average common shares outstanding, assuming dilution | i 69,316 | i 69,792 | i 69,485 | i 69,765 | |||||||||||||||||||
| (dollars in thousands) | June 30, 2022 | December 31, 2021 | |||||||||
| Mortgage loans held for sale | $ | i 555,039 | $ | i 1,247,997 | |||||||
| SBA loans held for sale | i 626 | i 6,635 | |||||||||
| Total loans held for sale | $ | i 555,665 | $ | i 1,254,632 | |||||||
(dollars in thousands) | June 30, 2022 | December 31, 2021 | |||||||||
| Aggregate fair value of mortgage loans held for sale | $ | i 555,039 | $ | i 1,247,997 | |||||||
| Aggregate unpaid principal balance of mortgage loans held for sale | i 551,420 | i 1,211,646 | |||||||||
| Past-due loans of 90 days or more | i 694 | i 746 | |||||||||
| Nonaccrual loans | i 694 | i 746 | |||||||||
| Unpaid principal balance of nonaccrual loans | i 712 | i 718 | |||||||||
(dollars in thousands) | June 30, 2022 | December 31, 2021 | |||||||||
| Aggregate fair value of SBA loans held for sale | $ | i 626 | $ | i 6,635 | |||||||
| Aggregate unpaid principal balance of SBA loans held for sale | i 565 | i 5,825 | |||||||||
| Past-due loans of 90 days or more | i — | i — | |||||||||
| Nonaccrual loans | i — | i — | |||||||||
| Recurring
Basis Fair Value Measurements | |||||||||||||||||||||||
| June 30, 2022 | |||||||||||||||||||||||
(dollars in thousands) | Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||||
| Financial assets: | |||||||||||||||||||||||
| Investment securities available-for-sale: | |||||||||||||||||||||||
| U.S. Treasuries | $ | i 312,889 | $ | i 312,889 | $ | i — | $ | i — | |||||||||||||||
| U.S. government sponsored agencies | i 2,021 | i — | i 2,021 | i — | |||||||||||||||||||
| State, county and municipal securities | i 40,963 | i — | i 40,963 | i — | |||||||||||||||||||
| Corporate debt securities | i 15,463 | i — | i 14,143 | i 1,320 | |||||||||||||||||||
| SBA pool securities | i 34,431 | i — | i 34,431 | i — | |||||||||||||||||||
| Mortgage-backed securities | i 646,501 | i — | i 646,501 | i — | |||||||||||||||||||
| Loans held for sale | i 555,665 | i — | i 555,665 | i — | |||||||||||||||||||
| Mortgage banking derivative instruments | i 10,079 | i — | i 10,079 | i — | |||||||||||||||||||
| Total recurring assets at fair value | $ | i 1,618,012 | $ | i 312,889 | $ | i 1,303,803 | $ | i 1,320 | |||||||||||||||
| Recurring
Basis Fair Value Measurements | |||||||||||||||||||||||
| December 31, 2021 | |||||||||||||||||||||||
| (dollars in thousands) | Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||||
| Financial assets: | |||||||||||||||||||||||
| Investment securities available-for-sale: | |||||||||||||||||||||||
| U.S. government sponsored agencies | $ | i 7,172 | $ | i — | $ | i 7,172 | $ | i — | |||||||||||||||
| State, county and municipal securities | i 47,812 | i — | i 47,812 | i — | |||||||||||||||||||
| Corporate debt securities | i 28,496 | i — | i 27,116 | i 1,380 | |||||||||||||||||||
| SBA pool securities | i 45,201 | i — | i 45,201 | i — | |||||||||||||||||||
| Mortgage-backed securities | i 463,940 | i — | i 463,940 | i — | |||||||||||||||||||
| Loans held for sale | i 1,254,632 | i — | i 1,254,632 | i — | |||||||||||||||||||
| Mortgage banking derivative instruments | i 11,940 | i — | i 11,940 | i — | |||||||||||||||||||
| Total recurring assets at fair value | $ | i 1,859,193 | $ | i — | $ | i 1,857,813 | $ | i 1,380 | |||||||||||||||
| Financial liabilities: | |||||||||||||||||||||||
| Mortgage banking derivative instruments | $ | i 710 | $ | i — | $ | i 710 | $ | i — | |||||||||||||||
| Total recurring liabilities at fair value | $ | i 710 | $ | i — | $ | i 710 | $ | i — | |||||||||||||||
| Nonrecurring
Basis Fair Value Measurements | |||||||||||||||||||||||
| (dollars in thousands) | Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||||
| June 30, 2022 | |||||||||||||||||||||||
| Collateral-dependent loans | $ | i 36,033 | $ | i — | $ | i — | $ | i 36,033 | |||||||||||||||
| Other real estate owned | i 702 | i — | i — | i 702 | |||||||||||||||||||
| Mortgage servicing rights | i 257,112 | i — | i — | i 257,112 | |||||||||||||||||||
| Total nonrecurring assets at fair value | $ | i 293,847 | $ | i — | $ | i — | $ | i 293,847 | |||||||||||||||
| December 31, 2021 | |||||||||||||||||||||||
| Collateral-dependent loans | $ | i 44,181 | $ | i — | $ | i — | $ | i 44,181 | |||||||||||||||
| Mortgage servicing rights | i 206,944 | i — | i — | i 206,944 | |||||||||||||||||||
| Total nonrecurring assets at fair value | $ | i 251,125 | $ | i — | $ | i — | $ | i 251,125 | |||||||||||||||
| (dollars in thousands) | Fair Value | Valuation Technique | Unobservable Inputs | Range of Discounts | Weighted Average Discount | |||||||||||||||||||||||||||
| June 30, 2022 | ||||||||||||||||||||||||||||||||
| Recurring: | ||||||||||||||||||||||||||||||||
| Debt securities available-for-sale | $ | i 1,320 | Discounted par values | Probability of Default | i 13% | i 13% | ||||||||||||||||||||||||||
| Loss Given Default | i 44% | i 44% | ||||||||||||||||||||||||||||||
| Nonrecurring: | ||||||||||||||||||||||||||||||||
| Collateral-dependent loans | $ | i 36,033 | Third-party appraisals and discounted cash flows | Collateral discounts and discount rates | i 0%
- i 40% | i 31% | ||||||||||||||||||||||||||
| Other real estate owned | $ | i 702 | Third-party appraisals and sales contracts | Collateral discounts and estimated costs to sell | i 15% - i 55% | i 37% | ||||||||||||||||||||||||||
| Mortgage servicing rights | $ | i 257,112 | Discounted cash flows | Discount rate | i 10%
- i 11% | i 10% | ||||||||||||||||||||||||||
| Prepayment speed | i 4%
- i 22% | i 8% | ||||||||||||||||||||||||||||||
| December 31, 2021 | ||||||||||||||||||||||||||||||||
| Recurring: | ||||||||||||||||||||||||||||||||
| Debt securities available-for-sale | $ | i 1,380 | Discounted par values | Discount Rate | i 8% | i 8% | ||||||||||||||||||||||||||
| Nonrecurring: | ||||||||||||||||||||||||||||||||
| Collateral-dependent loans | $ | i 44,181 | Third-party appraisals and discounted cash flows | Collateral discounts and discount rates | i 0%
- i 50% | i 39% | ||||||||||||||||||||||||||
| Mortgage servicing rights | $ | i 206,944 | Discounted cash flows | Discount rate | i 9%
- i 10% | i 9% | ||||||||||||||||||||||||||
| Prepayment speed | i 10%
- i 40% | i 13% | ||||||||||||||||||||||||||||||
| Fair Value Measurements | |||||||||||||||||||||||||||||
| June 30, 2022 | |||||||||||||||||||||||||||||
| (dollars in thousands) | Carrying Amount | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||
| Financial assets: | |||||||||||||||||||||||||||||
| Cash and due from banks | $ | i 345,627 | $ | i 345,627 | $ | i — | $ | i — | $ | i 345,627 | |||||||||||||||||||
| Federal funds sold and interest-bearing accounts | i 1,961,209 | i 1,961,209 | i — | i — | i 1,961,209 | ||||||||||||||||||||||||
| Debt securities held-to-maturity | i 111,654 | i — | i 97,144 | i — | i 97,144 | ||||||||||||||||||||||||
| Loans, net | i 17,352,347 | i — | i — | i 17,056,635 | i 17,056,635 | ||||||||||||||||||||||||
| Accrued interest receivable | i 56,995 | i — | i 3,867 | i 53,128 | i 56,995 | ||||||||||||||||||||||||
| Financial liabilities: | |||||||||||||||||||||||||||||
| Deposits | i 19,684,982 | i — | i 19,682,653 | i — | i 19,682,653 | ||||||||||||||||||||||||
| Securities sold under agreements to repurchase | i 953 | i 953 | i — | i — | i 953 | ||||||||||||||||||||||||
| Other borrowings | i 425,592 | i — | i 418,722 | i — | i 418,722 | ||||||||||||||||||||||||
| Subordinated deferrable interest debentures | i 127,325 | i — | i 117,240 | i — | i 117,240 | ||||||||||||||||||||||||
| Accrued interest payable | i 2,875 | i — | i 2,875 | i — | i 2,875 | ||||||||||||||||||||||||
| Fair Value Measurements | |||||||||||||||||||||||||||||
| December 31, 2021 | |||||||||||||||||||||||||||||
| (dollars in thousands) | Carrying Amount | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||
| Financial assets: | |||||||||||||||||||||||||||||
| Cash and due from banks | $ | i 307,813 | $ | i 307,813 | $ | i — | $ | i — | $ | i 307,813 | |||||||||||||||||||
| Federal funds sold and interest-bearing accounts | i 3,756,844 | i 3,756,844 | i — | i — | i 3,756,844 | ||||||||||||||||||||||||
| Debt securities held-to-maturity | i 79,850 | i — | i 78,206 | i — | i 78,206 | ||||||||||||||||||||||||
| Loans, net | i 15,662,495 | i — | i — | i 15,509,410 | i 15,509,410 | ||||||||||||||||||||||||
| Accrued interest receivable | i 56,917 | i — | i 2,373 | i 54,544 | i 56,917 | ||||||||||||||||||||||||
| Financial liabilities: | |||||||||||||||||||||||||||||
| Deposits | i 19,665,553 | i — | i 19,667,612 | i — | i 19,667,612 | ||||||||||||||||||||||||
| Securities sold under agreements to repurchase | i 5,845 | i 5,845 | i — | i — | i 5,845 | ||||||||||||||||||||||||
| Other borrowings | i 739,879 | i — | i 760,829 | i — | i 760,829 | ||||||||||||||||||||||||
| Subordinated deferrable interest debentures | i 126,328 | i — | i 117,764 | i — | i 117,764 | ||||||||||||||||||||||||
| Accrued interest payable | i 4,313 | i — | i 4,313 | i — | i 4,313 | ||||||||||||||||||||||||
| (dollars in thousands) | June 30, 2022 | December 31, 2021 | |||||||||
| Commitments to extend credit | $ | i 5,420,227 | $ | i 4,328,749 | |||||||
| Unused home equity lines of credit | i 303,428 | i 272,029 | |||||||||
| Financial standby letters of credit | i 30,272 | i 36,184 | |||||||||
| Mortgage interest rate lock commitments | i 320,320 | i 417,126 | |||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| (dollars in thousands) | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||
| Balance at beginning of period | $ | i 42,194 | $ | i 21,015 | $ | i 33,185 | $ | i 32,854 | |||||||||||||||
| Provision for unfunded commitments | i 1,779 | i 1,299 | i 10,788 | ( i 10,540) | |||||||||||||||||||
| Balance at end of period | $ | i 43,973 | $ | i 22,314 | $ | i 43,973 | $ | i 22,314 | |||||||||||||||
| Three
Months Ended June 30, 2022 | |||||||||||||||||||||||||||||||||||
| (dollars in thousands) | Banking Division | Retail Mortgage Division | Warehouse Lending Division | SBA Division | Premium Finance Division | Total | |||||||||||||||||||||||||||||
| Interest income | $ | i 141,844 | $ | i 38,055 | $ | i 8,476 | $ | i 4,757 | $ | i 9,436 | $ | i 202,568 | |||||||||||||||||||||||
| Interest expense | ( i 10,278) | i 17,276 | i 1,776 | i 959 | i 1,471 | i 11,204 | |||||||||||||||||||||||||||||
| Net interest income | i 152,122 | i 20,779 | i 6,700 | i 3,798 | i 7,965 | i 191,364 | |||||||||||||||||||||||||||||
| Provision for credit losses | i 10,175 | i 4,499 | i 867 | ( i 523) | ( i 94) | i 14,924 | |||||||||||||||||||||||||||||
| Noninterest income | i 23,469 | i 57,795 | i 1,041 | i 1,526 | i 10 | i 83,841 | |||||||||||||||||||||||||||||
| Noninterest expense | |||||||||||||||||||||||||||||||||||
| Salaries and employee benefits | i 46,733 | i 31,219 | i 208 | i 1,316 | i 2,069 | i 81,545 | |||||||||||||||||||||||||||||
| Occupancy and equipment | i 11,168 | i 1,406 | i 1 | i 81 | i 90 | i 12,746 | |||||||||||||||||||||||||||||
| Data processing and communications expenses | i 10,863 | i 1,123 | i 48 | i 29 | i 92 | i 12,155 | |||||||||||||||||||||||||||||
| Other expenses | i 21,123 | i 12,812 | i 212 | i 539 | i 1,064 | i 35,750 | |||||||||||||||||||||||||||||
| Total noninterest expense | i 89,887 | i 46,560 | i 469 | i 1,965 | i 3,315 | i 142,196 | |||||||||||||||||||||||||||||
| Income before income tax expense | i 75,529 | i 27,515 | i 6,405 | i 3,882 | i 4,754 | i 118,085 | |||||||||||||||||||||||||||||
| Income tax expense | i 19,120 | i 5,779 | i 1,346 | i 815 | i 959 | i 28,019 | |||||||||||||||||||||||||||||
| Net income | $ | i 56,409 | $ | i 21,736 | $ | i 5,059 | $ | i 3,067 | $ | i 3,795 | $ | i 90,066 | |||||||||||||||||||||||
| Total assets | $ | i 17,009,855 | $ | i 4,418,211 | $ | i 923,829 | $ | i 264,227 | $ | i 1,071,348 | $ | i 23,687,470 | |||||||||||||||||||||||
| Goodwill | i 958,558 | i — | i — | i — | i 64,498 | i 1,023,056 | |||||||||||||||||||||||||||||
| Other intangible assets, net | i 105,198 | i — | i — | i — | i 10,415 | i 115,613 | |||||||||||||||||||||||||||||
| Three
Months Ended June 30, 2021 | |||||||||||||||||||||||||||||||||||
| (dollars in thousands) | Banking Division | Retail Mortgage Division | Warehouse Lending Division | SBA Division | Premium Finance Division | Total | |||||||||||||||||||||||||||||
| Interest income | $ | i 109,260 | $ | i 34,085 | $ | i 8,988 | $ | i 14,050 | $ | i 7,368 | $ | i 173,751 | |||||||||||||||||||||||
| Interest expense | ( i 1,410) | i 11,552 | i 268 | i 1,168 | i 321 | i 11,899 | |||||||||||||||||||||||||||||
| Net interest income | i 110,670 | i 22,533 | i 8,720 | i 12,882 | i 7,047 | i 161,852 | |||||||||||||||||||||||||||||
| Provision for credit losses | ( i 3,949) | i 5,647 | ( i 155) | ( i 607) | ( i 794) | i 142 | |||||||||||||||||||||||||||||
| Noninterest income | i 16,171 | i 69,055 | i 1,333 | i 2,677 | i 4 | i 89,240 | |||||||||||||||||||||||||||||
| Noninterest expense | |||||||||||||||||||||||||||||||||||
| Salaries and employee benefits | i 37,814 | i 44,798 | i 278 | i 937 | i 1,678 | i 85,505 | |||||||||||||||||||||||||||||
| Occupancy and equipment | i 9,050 | i 1,553 | i 1 | i 132 | i 76 | i 10,812 | |||||||||||||||||||||||||||||
| Data processing and communications expenses | i 10,280 | i 1,435 | i 68 | i — | i 94 | i 11,877 | |||||||||||||||||||||||||||||
| Other expenses | i 18,763 | i 7,638 | i 30 | i 284 | i 852 | i 27,567 | |||||||||||||||||||||||||||||
| Total noninterest expense | i 75,907 | i 55,424 | i 377 | i 1,353 | i 2,700 | i 135,761 | |||||||||||||||||||||||||||||
| Income before income tax expense | i 54,883 | i 30,517 | i 9,831 | i 14,813 | i 5,145 | i 115,189 | |||||||||||||||||||||||||||||
| Income tax expense | i 14,196 | i 6,408 | i 2,064 | i 3,111 | i 1,083 | i 26,862 | |||||||||||||||||||||||||||||
| Net income | $ | i 40,687 | $ | i 24,109 | $ | i 7,767 | $ | i 11,702 | $ | i 4,062 | $ | i 88,327 | |||||||||||||||||||||||
| Total assets | $ | i 15,561,628 | $ | i 3,917,275 | $ | i 779,234 | $ | i 748,234 | $ | i 880,560 | $ | i 21,886,931 | |||||||||||||||||||||||
| Goodwill | i 863,507 | i — | i — | i — | i 64,498 | i 928,005 | |||||||||||||||||||||||||||||
| Other intangible assets, net | i 50,418 | i — | i — | i — | i 13,365 | i 63,783 | |||||||||||||||||||||||||||||
| Six
Months Ended June 30, 2022 | |||||||||||||||||||||||||||||||||||
| (dollars in thousands) | Banking Division | Retail Mortgage Division | Warehouse Lending Division | SBA Division | Premium Finance Division | Total | |||||||||||||||||||||||||||||
| Interest income | $ | i 271,134 | $ | i 70,887 | $ | i 15,289 | $ | i 11,537 | $ | i 17,095 | $ | i 385,942 | |||||||||||||||||||||||
| Interest expense | ( i 14,733) | i 30,813 | i 2,142 | i 1,728 | i 2,084 | i 22,034 | |||||||||||||||||||||||||||||
| Net interest income | i 285,867 | i 40,074 | i 13,147 | i 9,809 | i 15,011 | i 363,908 | |||||||||||||||||||||||||||||
| Provision for credit losses | i 15,401 | i 6,086 | i 645 | ( i 666) | ( i 311) | i 21,155 | |||||||||||||||||||||||||||||
| Noninterest income | i 44,833 | i 119,444 | i 2,442 | i 4,017 | i 16 | i 170,752 | |||||||||||||||||||||||||||||
| Noninterest expense | |||||||||||||||||||||||||||||||||||
| Salaries and employee benefits | i 95,928 | i 62,833 | i 491 | i 2,587 | i 3,987 | i 165,826 | |||||||||||||||||||||||||||||
| Occupancy and equipment | i 22,242 | i 2,877 | i 2 | i 180 | i 172 | i 25,473 | |||||||||||||||||||||||||||||
| Data processing and communications expenses | i 22,093 | i 2,295 | i 95 | i 57 | i 187 | i 24,727 | |||||||||||||||||||||||||||||
| Other expenses | i 41,168 | i 25,457 | i 430 | i 919 | i 2,016 | i 69,990 | |||||||||||||||||||||||||||||
| Total noninterest expense | i 181,431 | i 93,462 | i 1,018 | i 3,743 | i 6,362 | i 286,016 | |||||||||||||||||||||||||||||
| Income before income tax expense | i 133,868 | i 59,970 | i 13,926 | i 10,749 | i 8,976 | i 227,489 | |||||||||||||||||||||||||||||
| Income tax expense | i 36,116 | i 12,594 | i 2,925 | i 2,257 | i 1,833 | i 55,725 | |||||||||||||||||||||||||||||
| Net income | $ | i 97,752 | $ | i 47,376 | $ | i 11,001 | $ | i 8,492 | $ | i 7,143 | $ | i 171,764 | |||||||||||||||||||||||
| Six
Months Ended June 30, 2021 | |||||||||||||||||||||||||||||||||||
| (dollars in thousands) | Banking Division | Retail Mortgage Division | Warehouse Lending Division | SBA Division | Premium Finance Division | Total | |||||||||||||||||||||||||||||
| Interest income | $ | i 221,639 | $ | i 64,284 | $ | i 19,315 | $ | i 32,084 | $ | i 14,379 | $ | i 351,701 | |||||||||||||||||||||||
| Interest expense | ( i 1,847) | i 22,767 | i 689 | i 2,567 | i 696 | i 24,872 | |||||||||||||||||||||||||||||
| Net interest income | i 223,486 | i 41,517 | i 18,626 | i 29,517 | i 13,683 | i 326,829 | |||||||||||||||||||||||||||||
| Provision for credit losses | ( i 27,853) | i 1,094 | ( i 300) | ( i 1,154) | ( i 236) | ( i 28,449) | |||||||||||||||||||||||||||||
| Noninterest income | i 32,909 | i 166,695 | i 2,313 | i 5,288 | i 8 | i 207,213 | |||||||||||||||||||||||||||||
| Noninterest expense | |||||||||||||||||||||||||||||||||||
| Salaries and employee benefits | i 80,537 | i 94,636 | i 608 | i 2,319 | i 3,390 | i 181,490 | |||||||||||||||||||||||||||||
| Occupancy and equipment | i 19,170 | i 3,029 | i 2 | i 238 | i 154 | i 22,593 | |||||||||||||||||||||||||||||
| Data processing and communications expenses | i 20,481 | i 2,981 | i 117 | i 1 | i 181 | i 23,761 | |||||||||||||||||||||||||||||
| Other expenses | i 38,473 | i 15,827 | i 63 | i 579 | i 1,773 | i 56,715 | |||||||||||||||||||||||||||||
| Total noninterest expense | i 158,661 | i 116,473 | i 790 | i 3,137 | i 5,498 | i 284,559 | |||||||||||||||||||||||||||||
| Income before income tax expense | i 125,587 | i 90,645 | i 20,449 | i 32,822 | i 8,429 | i 277,932 | |||||||||||||||||||||||||||||
| Income tax expense | i 32,652 | i 19,035 | i 4,294 | i 6,893 | i 1,769 | i 64,643 | |||||||||||||||||||||||||||||
| Net income | $ | i 92,935 | $ | i 71,610 | $ | i 16,155 | $ | i 25,929 | $ | i 6,660 | $ | i 213,289 | |||||||||||||||||||||||
| (dollars in thousands) | June 30, 2022 | December 31, 2021 | |||||||||
| Loan Servicing Rights | |||||||||||
| Residential mortgage | $ | i 257,112 | $ | i 206,944 | |||||||
| SBA | i 4,954 | i 5,556 | |||||||||
| Total loan servicing rights | $ | i 262,066 | $ | i 212,500 | |||||||
| (dollars in thousands) | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||
| Residential mortgage servicing rights | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||
| Beginning carrying value, net | $ | i 232,236 | $ | i 154,746 | $ | i 206,944 | $ | i 130,630 | |||||||||||||||
| Additions | i 21,551 | i 43,377 | i 43,252 | i 65,244 | |||||||||||||||||||
| Amortization | ( i 7,514) | ( i 7,197) | ( i 13,576) | ( i 14,681) | |||||||||||||||||||
| Recoveries | i 10,839 | i 749 | i 20,492 | i 10,482 | |||||||||||||||||||
| Ending carrying value, net | $ | i 257,112 | $ | i 191,675 | $ | i 257,112 | $ | i 191,675 | |||||||||||||||
| (dollars in thousands) | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||
| Residential mortgage servicing valuation allowance | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||
| Beginning balance | $ | i 16,129 | $ | i 29,674 | $ | i 25,782 | $ | i 39,407 | |||||||||||||||
| Recoveries | ( i 10,839) | ( i 749) | ( i 20,492) | ( i 10,482) | |||||||||||||||||||
| Ending balance | $ | i 5,290 | $ | i 28,925 | $ | i 5,290 | $ | i 28,925 | |||||||||||||||
| (dollars in thousands) | June 30, 2022 | December 31, 2021 | |||||||||
| Residential mortgage servicing rights | |||||||||||
| Unpaid principal balance of loans serviced for others | $ | i 18,304,805 | $ | i 16,786,442 | |||||||
| Composition of residential loans serviced for others: | |||||||||||
| FHLMC | i 21.78 | % | i 21.88 | % | |||||||
| FNMA | i 60.49 | % | i 60.26 | % | |||||||
| GNMA | i 17.73 | % | i 17.86 | % | |||||||
| Total | i 100.00 | % | i 100.00 | % | |||||||
| Weighted average term (months) | i 342 | i 341 | |||||||||
| Weighted average age (months) | i 22 | i 20 | |||||||||
| Modeled prepayment speed | i 8.11 | % | i 12.96 | % | |||||||
| Decline in fair value due to a 10% adverse change | ( i 9,451) | ( i 8,368) | |||||||||
| Decline in fair value due to a 20% adverse change | ( i 17,679) | ( i 16,157) | |||||||||
| Weighted average discount rate | i 9.77 | % | i 8.77 | % | |||||||
| Decline in fair value due to a 10% adverse change | ( i 11,577) | ( i 6,984) | |||||||||
| Decline in fair value due to a 20% adverse change | ( i 21,616) | ( i 13,504) | |||||||||
| (dollars in thousands) | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||
| SBA servicing rights | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||
| Beginning carrying value, net | $ | i 5,384 | $ | i 6,445 | $ | i 5,556 | $ | i 5,839 | |||||||||||||||
| Additions | i 236 | i 241 | i 774 | i 471 | |||||||||||||||||||
| Amortization | ( i 666) | ( i 563) | ( i 1,376) | ( i 1,092) | |||||||||||||||||||
| Recoveries | i — | i — | i — | i 905 | |||||||||||||||||||
| Ending carrying value, net | $ | i 4,954 | $ | i 6,123 | $ | i 4,954 | $ | i 6,123 | |||||||||||||||
| (dollars in thousands) | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||
| SBA servicing valuation allowance | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||
| Beginning balance | $ | i — | $ | i — | $ | i — | $ | i 905 | |||||||||||||||
| Recoveries | i — | i — | i — | ( i 905) | |||||||||||||||||||
| Ending balance | $ | i — | $ | i — | $ | i — | $ | i — | |||||||||||||||
| (dollars in thousands) | June 30, 2022 | December 31, 2021 | |||||||||
| SBA servicing rights | |||||||||||
| Unpaid principal balance of loans serviced for others | $ | i 387,101 | $ | i 410,167 | |||||||
| Weighted average life (in years) | i 3.64 | i 3.65 | |||||||||
| Modeled prepayment speed | i 17.81 | % | i 17.68 | % | |||||||
| Decline in fair value due to a 10% adverse change | ( i 218) | ( i 291) | |||||||||
| Decline in fair value due to a 20% adverse change | ( i 419) | ( i 557) | |||||||||
| Weighted average discount rate | i 16.55 | % | i 11.92 | % | |||||||
| Decline in fair value due to a 100 basis point adverse change | ( i 108) | ( i 144) | |||||||||
| Decline in fair value due to a 200 basis point adverse change | ( i 212) | ( i 282) | |||||||||
| (dollars in thousands) | Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||
| Indirect automobile servicing rights | 2022 | 2021 | 2022 | 2021 | |||||||||||||||||||
| Beginning carrying value, net | $ | i — | $ | i 29 | $ | i — | $ | i 73 | |||||||||||||||
| Amortization | i — | ( i 29) | i — | ( i 73) | |||||||||||||||||||
| Ending carrying value, net | $ | i — | $ | i — | $ | i — | $ | i — | |||||||||||||||
| Three Months Ended June 30, | |||||||||||
| (in thousands, except share and per share data) | 2022 | 2021 | |||||||||
| Net income | $ | 90,066 | $ | 88,327 | |||||||
| Adjustment items: | |||||||||||
| Servicing right recovery | (10,838) | (749) | |||||||||
| Gain on bank premises | (39) | (236) | |||||||||
Tax effect of adjustment items (Note 1) | 2,284 | 206 | |||||||||
| After tax adjustment items | (8,593) | (779) | |||||||||
| Adjusted net income | $ | 81,473 | $ | 87,548 | |||||||
| Weighted average common shares outstanding - diluted | 69,316,258 | 69,791,670 | |||||||||
| Net income per diluted share | $ | 1.30 | $ | 1.27 | |||||||
| Adjusted net income per diluted share | $ | 1.18 | $ | 1.25 | |||||||
| Note 1: Tax effect is calculated utilizing a 21% rate for taxable adjustments. | |||||||||||
| Three
Months Ended June 30, 2022 | |||||||||||||||||||||||||||||||||||
| (dollars in thousands) | Banking Division | Retail Mortgage Division | Warehouse Lending Division | SBA Division | Premium Finance Division | Total | |||||||||||||||||||||||||||||
| Interest income | $ | 141,844 | $ | 38,055 | $ | 8,476 | $ | 4,757 | $ | 9,436 | $ | 202,568 | |||||||||||||||||||||||
| Interest expense | (10,278) | 17,276 | 1,776 | 959 | 1,471 | 11,204 | |||||||||||||||||||||||||||||
| Net interest income | 152,122 | 20,779 | 6,700 | 3,798 | 7,965 | 191,364 | |||||||||||||||||||||||||||||
| Provision for credit losses | 10,175 | 4,499 | 867 | (523) | (94) | 14,924 | |||||||||||||||||||||||||||||
| Noninterest income | 23,469 | 57,795 | 1,041 | 1,526 | 10 | 83,841 | |||||||||||||||||||||||||||||
| Noninterest expense | |||||||||||||||||||||||||||||||||||
| Salaries and employee benefits | 46,733 | 31,219 | 208 | 1,316 | 2,069 | 81,545 | |||||||||||||||||||||||||||||
| Occupancy and equipment | 11,168 | 1,406 | 1 | 81 | 90 | 12,746 | |||||||||||||||||||||||||||||
| Data processing and communications expenses | 10,863 | 1,123 | 48 | 29 | 92 | 12,155 | |||||||||||||||||||||||||||||
| Other expenses | 21,123 | 12,812 | 212 | 539 | 1,064 | 35,750 | |||||||||||||||||||||||||||||
| Total noninterest expense | 89,887 | 46,560 | 469 | 1,965 | 3,315 | 142,196 | |||||||||||||||||||||||||||||
| Income before income tax expense | 75,529 | 27,515 | 6,405 | 3,882 | 4,754 | 118,085 | |||||||||||||||||||||||||||||
| Income tax expense | 19,120 | 5,779 | 1,346 | 815 | 959 | 28,019 | |||||||||||||||||||||||||||||
| Net income | $ | 56,409 | $ | 21,736 | $ | 5,059 | $ | 3,067 | $ | 3,795 | $ | 90,066 | |||||||||||||||||||||||
| Three
Months Ended June 30, 2021 | |||||||||||||||||||||||||||||||||||
| (dollars in thousands) | Banking Division | Retail Mortgage Division | Warehouse Lending Division | SBA Division | Premium Finance Division | Total | |||||||||||||||||||||||||||||
| Interest income | $ | 109,260 | $ | 34,085 | $ | 8,988 | $ | 14,050 | $ | 7,368 | $ | 173,751 | |||||||||||||||||||||||
| Interest expense | (1,410) | 11,552 | 268 | 1,168 | 321 | 11,899 | |||||||||||||||||||||||||||||
| Net interest income | 110,670 | 22,533 | 8,720 | 12,882 | 7,047 | 161,852 | |||||||||||||||||||||||||||||
| Provision for credit losses | (3,949) | 5,647 | (155) | (607) | (794) | 142 | |||||||||||||||||||||||||||||
| Noninterest income | 16,171 | 69,055 | 1,333 | 2,677 | 4 | 89,240 | |||||||||||||||||||||||||||||
| Noninterest expense | |||||||||||||||||||||||||||||||||||
| Salaries and employee benefits | 37,814 | 44,798 | 278 | 937 | 1,678 | 85,505 | |||||||||||||||||||||||||||||
| Occupancy and equipment | 9,050 | 1,553 | 1 | 132 | 76 | 10,812 | |||||||||||||||||||||||||||||
| Data processing and communications expenses | 10,280 | 1,435 | 68 | — | 94 | 11,877 | |||||||||||||||||||||||||||||
| Other expenses | 18,763 | 7,638 | 30 | 284 | 852 | 27,567 | |||||||||||||||||||||||||||||
| Total noninterest expense | 75,907 | 55,424 | 377 | 1,353 | 2,700 | 135,761 | |||||||||||||||||||||||||||||
| Income before income tax expense | 54,883 | 30,517 | 9,831 | 14,813 | 5,145 | 115,189 | |||||||||||||||||||||||||||||
| Income tax expense | 14,196 | 6,408 | 2,064 | 3,111 | 1,083 | 26,862 | |||||||||||||||||||||||||||||
| Net income | $ | 40,687 | $ | 24,109 | $ | 7,767 | $ | 11,702 | $ | 4,062 | $ | 88,327 | |||||||||||||||||||||||
| Quarter Ended June 30, | |||||||||||||||||||||||||||||||||||
| 2022 | 2021 | ||||||||||||||||||||||||||||||||||
| (dollars in thousands) | Average Balance | Interest Income/ Expense | Average Yield/ Rate Paid | Average Balance | Interest Income/ Expense | Average Yield/ Rate Paid | |||||||||||||||||||||||||||||
| Assets | |||||||||||||||||||||||||||||||||||
| Interest-earning assets: | |||||||||||||||||||||||||||||||||||
| Federal funds sold, interest-bearing deposits in banks, and time deposits in other banks | $ | 2,227,453 | $ | 4,495 | 0.81% | $ | 2,481,336 | $ | 607 | 0.10% | |||||||||||||||||||||||||
| Investment securities | 1,021,610 | 7,405 | 2.91% | 857,079 | 5,420 | 2.54% | |||||||||||||||||||||||||||||
| Loans held for sale | 944,964 | 10,036 | 4.26% | 1,705,167 | 11,773 | 2.77% | |||||||||||||||||||||||||||||
| Loans | 16,861,674 | 181,602 | 4.32% | 14,549,104 | 157,112 | 4.33% | |||||||||||||||||||||||||||||
| Total interest-earning assets | 21,055,701 | 203,538 | 3.88% | 19,592,686 | 174,912 | 3.58% | |||||||||||||||||||||||||||||
| Noninterest-earning assets | 2,349,500 | 1,946,208 | |||||||||||||||||||||||||||||||||
| Total assets | $ | 23,405,201 | $ | 21,538,894 | |||||||||||||||||||||||||||||||
| Liabilities and Shareholders’ Equity | |||||||||||||||||||||||||||||||||||
| Interest-bearing liabilities: | |||||||||||||||||||||||||||||||||||
| Savings and interest-bearing demand deposits | $ | 9,790,029 | $ | 3,590 | 0.15% | $ | 9,063,721 | $ | 2,846 | 0.13% | |||||||||||||||||||||||||
| Time deposits | 1,693,740 | 1,318 | 0.31% | 2,006,265 | 2,929 | 0.59% | |||||||||||||||||||||||||||||
| Securities sold under agreements to repurchase | 1,854 | 1 | 0.22% | 6,883 | 5 | 0.29% | |||||||||||||||||||||||||||||
| FHLB advances | 48,746 | 192 | 1.58% | 48,910 | 193 | 1.58% | |||||||||||||||||||||||||||||
| Other borrowings | 376,829 | 4,437 | 4.72% | 376,376 | 4,683 | 4.99% | |||||||||||||||||||||||||||||
| Subordinated deferrable interest debentures | 127,063 | 1,666 | 5.26% | 125,068 | 1,243 | 3.99% | |||||||||||||||||||||||||||||
| Total interest-bearing liabilities | 12,038,261 | 11,204 | 0.37% | 11,627,223 | 11,899 | 0.41% | |||||||||||||||||||||||||||||
| Demand deposits | 7,955,765 | 6,874,471 | |||||||||||||||||||||||||||||||||
| Other liabilities | 367,895 | 238,931 | |||||||||||||||||||||||||||||||||
| Shareholders’ equity | 3,043,280 | 2,798,269 | |||||||||||||||||||||||||||||||||
| Total liabilities and shareholders’ equity | $ | 23,405,201 | $ | 21,538,894 | |||||||||||||||||||||||||||||||
| Interest rate spread | 3.51% | 3.17% | |||||||||||||||||||||||||||||||||
| Net interest income | $ | 192,334 | $ | 163,013 | |||||||||||||||||||||||||||||||
| Net interest margin | 3.66% | 3.34% | |||||||||||||||||||||||||||||||||
| Three
Months Ended June 30, 2022 | Three Months Ended June 30, 2021 | ||||||||||||||||||||||
| (dollars in thousands) | Average Balance | Average Cost | Average Balance | Average Cost | |||||||||||||||||||
| NOW | $ | 3,695,490 | 0.14% | $ | 3,314,334 | 0.10% | |||||||||||||||||
| MMDA | 5,087,199 | 0.17% | 4,872,500 | 0.16% | |||||||||||||||||||
| Savings | 1,007,340 | 0.06% | 876,887 | 0.06% | |||||||||||||||||||
| Retail CDs | 1,693,740 | 0.31% | 2,005,265 | 0.58% | |||||||||||||||||||
| Brokered CDs | — | —% | 1,000 | 3.21% | |||||||||||||||||||
| Interest-bearing deposits | $ | 11,483,769 | 0.17% | $ | 11,069,986 | 0.21% | |||||||||||||||||
| Six Months Ended June 30, | |||||||||||
| (in thousands, except share and per share data) | 2022 | 2021 | |||||||||
| Net income available to common shareholders | $ | 171,764 | $ | 213,289 | |||||||
| Adjustment items: | |||||||||||
| Merger and conversion charges | 977 | — | |||||||||
| Servicing right recovery | (20,492) | (11,388) | |||||||||
| Gain on BOLI proceeds | — | (603) | |||||||||
| Gain on bank premises | (45) | (500) | |||||||||
Tax effect of adjustment items (Note 1) | 4,308 | 2,496 | |||||||||
| After tax adjustment items | (15,252) | (9,995) | |||||||||
| Adjusted net income | $ | 156,512 | $ | 203,294 | |||||||
| Weighted average common shares outstanding - diluted | 69,484,508 | 69,764,923 | |||||||||
| Net income per diluted share | $ | 2.47 | $ | 3.06 | |||||||
| Adjusted net income per diluted share | $ | 2.25 | $ | 2.91 | |||||||
| Note 1: Tax effect is calculated utilizing a 21% rate for taxable adjustments. Gain on BOLI proceeds is non-taxable and no tax effect is included. A portion of the merger and conversion charges for the six months ended June 30, 2022 is nondeductible for tax purposes. | |||||||||||
| Six
Months Ended June 30, 2022 | |||||||||||||||||||||||||||||||||||
| (dollars in thousands) | Banking Division | Retail Mortgage Division | Warehouse Lending Division | SBA Division | Premium Finance Division | Total | |||||||||||||||||||||||||||||
| Interest income | $ | 271,134 | $ | 70,887 | $ | 15,289 | $ | 11,537 | $ | 17,095 | $ | 385,942 | |||||||||||||||||||||||
| Interest expense | (14,733) | 30,813 | 2,142 | 1,728 | 2,084 | 22,034 | |||||||||||||||||||||||||||||
| Net interest income | 285,867 | 40,074 | 13,147 | 9,809 | 15,011 | 363,908 | |||||||||||||||||||||||||||||
| Provision for loan losses | 15,401 | 6,086 | 645 | (666) | (311) | 21,155 | |||||||||||||||||||||||||||||
| Noninterest income | 44,833 | 119,444 | 2,442 | 4,017 | 16 | 170,752 | |||||||||||||||||||||||||||||
| Noninterest expense | |||||||||||||||||||||||||||||||||||
| Salaries and employee benefits | 95,928 | 62,833 | 491 | 2,587 | 3,987 | 165,826 | |||||||||||||||||||||||||||||
| Occupancy and equipment | 22,242 | 2,877 | 2 | 180 | 172 | 25,473 | |||||||||||||||||||||||||||||
| Data processing and communications expenses | 22,093 | 2,295 | 95 | 57 | 187 | 24,727 | |||||||||||||||||||||||||||||
| Other expenses | 41,168 | 25,457 | 430 | 919 | 2,016 | 69,990 | |||||||||||||||||||||||||||||
| Total noninterest expense | 181,431 | 93,462 | 1,018 | 3,743 | 6,362 | 286,016 | |||||||||||||||||||||||||||||
| Income before income tax expense | 133,868 | 59,970 | 13,926 | 10,749 | 8,976 | 227,489 | |||||||||||||||||||||||||||||
| Income tax expense | 36,116 | 12,594 | 2,925 | 2,257 | 1,833 | 55,725 | |||||||||||||||||||||||||||||
| Net income | $ | 97,752 | $ | 47,376 | $ | 11,001 | $ | 8,492 | $ | 7,143 | $ | 171,764 | |||||||||||||||||||||||
| Six
Months Ended June 30, 2021 | |||||||||||||||||||||||||||||||||||
| (dollars in thousands) | Banking Division | Retail Mortgage Division | Warehouse Lending Division | SBA Division | Premium Finance Division | Total | |||||||||||||||||||||||||||||
| Interest income | $ | 221,639 | $ | 64,284 | $ | 19,315 | $ | 32,084 | $ | 14,379 | $ | 351,701 | |||||||||||||||||||||||
| Interest expense | (1,847) | 22,767 | 689 | 2,567 | 696 | 24,872 | |||||||||||||||||||||||||||||
| Net interest income | 223,486 | 41,517 | 18,626 | 29,517 | 13,683 | 326,829 | |||||||||||||||||||||||||||||
| Provision for loan losses | (27,853) | 1,094 | (300) | (1,154) | (236) | (28,449) | |||||||||||||||||||||||||||||
| Noninterest income | 32,909 | 166,695 | 2,313 | 5,288 | 8 | 207,213 | |||||||||||||||||||||||||||||
| Noninterest expense | |||||||||||||||||||||||||||||||||||
| Salaries and employee benefits | 80,537 | 94,636 | 608 | 2,319 | 3,390 | 181,490 | |||||||||||||||||||||||||||||
| Occupancy and equipment | 19,170 | 3,029 | 2 | 238 | 154 | 22,593 | |||||||||||||||||||||||||||||
| Data processing and communications expenses | 20,481 | 2,981 | 117 | 1 | 181 | 23,761 | |||||||||||||||||||||||||||||
| Other expenses | 38,473 | 15,827 | 63 | 579 | 1,773 | 56,715 | |||||||||||||||||||||||||||||
| Total noninterest expense | 158,661 | 116,473 | 790 | 3,137 | 5,498 | 284,559 | |||||||||||||||||||||||||||||
| Income before income tax expense | 125,587 | 90,645 | 20,449 | 32,822 | 8,429 | 277,932 | |||||||||||||||||||||||||||||
| Income tax expense | 32,652 | 19,035 | 4,294 | 6,893 | 1,769 | 64,643 | |||||||||||||||||||||||||||||
| Net income | $ | 92,935 | $ | 71,610 | $ | 16,155 | $ | 25,929 | $ | 6,660 | $ | 213,289 | |||||||||||||||||||||||
| Six
Months Ended June 30, | |||||||||||||||||||||||||||||||||||
| 2022 | 2021 | ||||||||||||||||||||||||||||||||||
| (dollars in thousands) | Average Balance | Interest Income/ Expense | Average Yield/ Rate Paid | Average Balance | Interest Income/ Expense | Average Yield/ Rate Paid | |||||||||||||||||||||||||||||
| Assets | |||||||||||||||||||||||||||||||||||
| Interest-earning assets: | |||||||||||||||||||||||||||||||||||
| Federal funds sold, interest-bearing deposits in banks, and time deposits in other banks | $ | 2,817,071 | $ | 5,878 | 0.42% | $ | 2,324,365 | $ | 1,141 | 0.10% | |||||||||||||||||||||||||
| Investment securities | 862,178 | 11,879 | 2.78% | 907,049 | 11,716 | 2.60% | |||||||||||||||||||||||||||||
| Loans held for sale | 1,020,611 | 18,168 | 3.59% | 1,496,155 | 22,600 | 3.05% | |||||||||||||||||||||||||||||
| Loans | 16,344,409 | 352,000 | 4.34% | 14,501,802 | 318,585 | 4.43% | |||||||||||||||||||||||||||||
| Total interest-earning assets | 21,044,269 | 387,925 | 3.72% | 19,229,371 | 354,042 | 3.71% | |||||||||||||||||||||||||||||
| Noninterest-earning assets | 2,296,516 | 1,915,380 | |||||||||||||||||||||||||||||||||
| Total assets | $ | 23,340,785 | $ | 21,144,751 | |||||||||||||||||||||||||||||||
| Liabilities and Shareholders’ Equity | |||||||||||||||||||||||||||||||||||
| Interest-bearing liabilities: | |||||||||||||||||||||||||||||||||||
| Savings and interest-bearing demand deposits | $ | 9,844,422 | $ | 6,190 | 0.13% | $ | 8,915,964 | $ | 5,894 | 0.13% | |||||||||||||||||||||||||
| Time deposits | 1,733,656 | 2,810 | 0.33% | 2,036,668 | 6,679 | 0.66% | |||||||||||||||||||||||||||||
| Federal funds purchased and securities sold under agreements to repurchase | 2,931 | 4 | 0.28% | 8,077 | 12 | 0.30% | |||||||||||||||||||||||||||||
| FHLB advances | 48,766 | 382 | 1.58% | 48,931 | 385 | 1.59% | |||||||||||||||||||||||||||||
| Other borrowings | 410,058 | 9,601 | 4.72% | 376,318 | 9,321 | 4.99% | |||||||||||||||||||||||||||||
| Subordinated deferrable interest debentures | 126,814 | 3,047 | 4.85% | 124,823 | 2,581 | 4.17% | |||||||||||||||||||||||||||||
| Total interest-bearing liabilities | 12,166,647 | 22,034 | 0.37% | 11,510,781 | 24,872 | 0.44% | |||||||||||||||||||||||||||||
| Demand deposits | 7,807,929 | 6,644,646 | |||||||||||||||||||||||||||||||||
| Other liabilities | 347,109 | 242,402 | |||||||||||||||||||||||||||||||||
| Shareholders’ equity | 3,019,100 | 2,746,922 | |||||||||||||||||||||||||||||||||
| Total liabilities and shareholders’ equity | $ | 23,340,785 | $ | 21,144,751 | |||||||||||||||||||||||||||||||
| Interest rate spread | 3.35% | 3.27% | |||||||||||||||||||||||||||||||||
| Net interest income | $ | 365,891 | $ | 329,170 | |||||||||||||||||||||||||||||||
| Net interest margin | 3.51% | 3.45% | |||||||||||||||||||||||||||||||||
| Six
Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | ||||||||||||||||||||||
| (dollars in thousands) | Average Balance | Average Cost | Average Balance | Average Cost | |||||||||||||||||||
| NOW | $ | 3,690,161 | 0.11% | $ | 3,248,655 | 0.11% | |||||||||||||||||
| MMDA | 5,163,636 | 0.15% | 4,817,197 | 0.16% | |||||||||||||||||||
| Savings | 990,625 | 0.06% | 850,112 | 0.06% | |||||||||||||||||||
| Retail CDs | 1,733,656 | 0.33% | 2,035,668 | 0.66% | |||||||||||||||||||
| Brokered CDs | — | —% | 1,000 | 2.82% | |||||||||||||||||||
| Interest-bearing deposits | $ | 11,578,078 | 0.16% | $ | 10,952,632 | 0.23% | |||||||||||||||||
| June 30, 2022 | December 31, 2021 | ||||||||||||||||||||||
| (dollars in thousands) | Amortized Cost | Fair Value | Amortized Cost | Fair Value | |||||||||||||||||||
| Securities available-for-sale | |||||||||||||||||||||||
| U.S. Treasuries | $ | 314,613 | $ | 312,889 | $ | — | $ | — | |||||||||||||||
| U.S. government-sponsored agencies | 2,050 | 2,021 | 7,084 | 7,172 | |||||||||||||||||||
| State, county and municipal securities | 41,428 | 40,963 | 45,470 | 47,812 | |||||||||||||||||||
| Corporate debt securities | 15,897 | 15,463 | 27,897 | 28,496 | |||||||||||||||||||
| SBA pool securities | 35,854 | 34,431 | 44,312 | 45,201 | |||||||||||||||||||
| Mortgage-backed securities | 658,508 | 646,501 | 448,124 | 463,940 | |||||||||||||||||||
| Total debt securities available-for-sale | $ | 1,068,350 | $ | 1,052,268 | $ | 572,887 | $ | 592,621 | |||||||||||||||
| Securities held-to-maturity | |||||||||||||||||||||||
| State, county and municipal securities | $ | 31,905 | $ | 27,626 | $ | 8,905 | $ | 8,711 | |||||||||||||||
| Mortgage-backed securities | 79,749 | 69,518 | 70,945 | 69,495 | |||||||||||||||||||
| Total debt securities held-to-maturity | $ | 111,654 | $ | 97,144 | $ | 79,850 | $ | 78,206 | |||||||||||||||
| U.S. Treasuries | U.S. Government-Sponsored Agencies | State, County and Municipal Securities | ||||||||||||||||||||||||||||||||||||
(dollars in thousands) Securities available-for-sale (1) | Amount | Yield (2) | Amount | Yield (2) | Amount | Yield (2)(3) | ||||||||||||||||||||||||||||||||
| One year or less | $ | — | — | % | $ | 1,008 | 1.92 | % | $ | 4,769 | 3.05 | % | ||||||||||||||||||||||||||
| After one year through five years | 312,889 | 2.53 | 1,013 | 2.16 | 13,715 | 4.07 | ||||||||||||||||||||||||||||||||
| After five years through ten years | — | — | — | — | 15,252 | 4 | 4.01 | |||||||||||||||||||||||||||||||
| After ten years | — | — | — | — | 7,227 | 3.70 | ||||||||||||||||||||||||||||||||
| $ | 312,889 | 2.53 | % | $ | 2,021 | 2.04 | % | $ | 40,963 | 3.86 | % | |||||||||||||||||||||||||||
| Corporate Debt Securities | SBA Pool Securities | Mortgage-Backed Securities | ||||||||||||||||||||||||||||||||||||
(dollars in thousands) Securities available-for-sale (1) | Amount | Yield (2) | Amount | Yield (2) | Amount | Yield (2) | ||||||||||||||||||||||||||||||||
| One year or less | $ | 500 | 3.88 | % | $ | 477 | 2.10 | % | $ | 21 | 2.40 | % | ||||||||||||||||||||||||||
| After one year through five years | — | — | 9,663 | 2.07 | 113,977 | 2.99 | ||||||||||||||||||||||||||||||||
| After five years through ten years | 13,244 | 4.71 | 2,589 | 3.04 | 225,714 | 2.94 | ||||||||||||||||||||||||||||||||
| After ten years | 1,719 | 5.59 | 21,702 | 2.50 | 306,789 | 3.03 | ||||||||||||||||||||||||||||||||
| $ | 15,463 | 4.79 | % | $ | 34,431 | 2.42 | % | $ | 646,501 | 2.99 | % | |||||||||||||||||||||||||||
| State,
County and Municipal Securities | Mortgage-Backed Securities | |||||||||||||||||||||||||||||||||||||
(dollars in thousands) Securities held-to-maturity (1) | Amount | Yield (2)(3) | Amount | Yield (2) | ||||||||||||||||||||||||||||||||||
| One year or less | $ | — | — | % | $ | — | — | % | ||||||||||||||||||||||||||||||
| After one year through five years | — | — | 11,044 | 1.01 | ||||||||||||||||||||||||||||||||||
| After five years through ten years | — | — | 26,103 | 2.03 | ||||||||||||||||||||||||||||||||||
| After ten years | 31,905 | 3.93 | 42,602 | 1.68 | ||||||||||||||||||||||||||||||||||
| $ | 31,905 | 3.93 | % | $ | 79,749 | 1.70 | % | |||||||||||||||||||||||||||||||
| Six
Months Ended June 30, | |||||||||||
| (dollars in thousands) | 2022 | 2021 | |||||||||
| Balance of allowance for credit losses on loans at beginning of period | $ | 167,582 | $ | 199,422 | |||||||
| Provision charged to operating expense | 10,493 | (17,478) | |||||||||
| Charge-offs: | |||||||||||
| Commercial, financial and agricultural | 8,805 | 5,899 | |||||||||
| Consumer installment | 2,562 | 3,117 | |||||||||
| Indirect automobile | 129 | 970 | |||||||||
| Premium finance | 2,435 | 2,537 | |||||||||
| Real estate – construction and development | — | 212 | |||||||||
| Real estate – commercial and farmland | 1,364 | 1,422 | |||||||||
| Real estate – residential | 137 | 555 | |||||||||
| Total charge-offs | 15,432 | 14,712 | |||||||||
| Recoveries: | |||||||||||
| Commercial, financial and agricultural | 5,681 | 1,352 | |||||||||
| Consumer installment | 388 | 568 | |||||||||
| Indirect automobile | 540 | 1,072 | |||||||||
| Premium finance | 2,360 | 3,588 | |||||||||
| Real estate – construction and development | 573 | 251 | |||||||||
| Real estate – commercial and farmland | 81 | 226 | |||||||||
| Real estate – residential | 376 | 781 | |||||||||
| Total recoveries | 9,999 | 7,838 | |||||||||
| Net charge-offs | 5,433 | 6,874 | |||||||||
| Balance of allowance for credit losses on loans at end of period | $ | 172,642 | $ | 175,070 | |||||||
| As of and for the Six Months Ended | |||||||||||
| (dollars in thousands) | June 30, 2022 | June 30, 2021 | |||||||||
| Allowance for credit losses on loans at end of period | $ | 172,642 | $ | 175,070 | |||||||
| Net charge-offs for the period | 5,433 | 6,874 | |||||||||
| Loan balances: | |||||||||||
| End of period | 17,561,022 | 14,780,791 | |||||||||
| Average for the period | 16,344,409 | 14,501,802 | |||||||||
| Net charge-offs as a percentage of average loans (annualized) | 0.07 | % | 0.10 | % | |||||||
| Allowance for credit losses on loans as a percentage of end of period loans | 0.98 | % | 1.18 | % | |||||||
| (dollars in thousands) | June 30, 2022 | December 31, 2021 | |||||||||
| Commercial, financial and agricultural | $ | 2,022,845 | $ | 1,875,993 | |||||||
| Consumer installment | 167,237 | 191,298 | |||||||||
| Indirect automobile | 172,245 | 265,779 | |||||||||
| Mortgage warehouse | 949,191 | 787,837 | |||||||||
| Municipal | 529,268 | 572,701 | |||||||||
| Premium finance | 942,357 | 798,409 | |||||||||
| Real estate – construction and development | 1,747,284 | 1,452,339 | |||||||||
| Real estate – commercial and farmland | 7,156,017 | 6,834,917 | |||||||||
| Real estate – residential | 3,874,578 | 3,094,985 | |||||||||
| $ | 17,561,022 | $ | 15,874,258 | ||||||||
| (dollars in thousands) | June 30, 2022 | December 31, 2021 | |||||||||
| Nonaccrual loans | $ | 122,912 | $ | 85,266 | |||||||
| Accruing loans delinquent 90 days or more | 8,542 | 12,648 | |||||||||
| Repossessed assets | 122 | 84 | |||||||||
| Other real estate owned | 835 | 3,810 | |||||||||
| Total non-performing assets | $ | 132,411 | $ | 101,808 | |||||||
| June 30, 2022 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||
| Loan Class | # | Balance (in thousands) | # | Balance (in thousands) | |||||||||||||||||||
| Commercial, financial and agricultural | 9 | $ | 964 | 3 | $ | 364 | |||||||||||||||||
| Consumer installment | 4 | 9 | 10 | 14 | |||||||||||||||||||
| Indirect automobile | 196 | 759 | 30 | 122 | |||||||||||||||||||
| Premium finance | 6 | 993 | — | — | |||||||||||||||||||
| Real estate – construction and development | 2 | 706 | — | — | |||||||||||||||||||
| Real estate – commercial and farmland | 18 | 8,213 | 4 | 788 | |||||||||||||||||||
| Real estate – residential | 210 | 24,456 | 31 | 4,369 | |||||||||||||||||||
| Total | 445 | $ | 36,100 | 78 | $ | 5,657 | |||||||||||||||||
| December 31, 2021 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||
| Loan Class | # | Balance (in thousands) | # | Balance (in thousands) | |||||||||||||||||||
| Commercial, financial and agricultural | 12 | $ | 1,286 | 6 | $ | 83 | |||||||||||||||||
| Consumer installment | 7 | 16 | 17 | 35 | |||||||||||||||||||
| Indirect automobile | 233 | 1,037 | 52 | 273 | |||||||||||||||||||
| Real estate – construction and development | 4 | 789 | 1 | 13 | |||||||||||||||||||
| Real estate – commercial and farmland | 25 | 35,575 | 5 | 5,924 | |||||||||||||||||||
| Real estate – residential | 213 | 26,879 | 39 | 4,678 | |||||||||||||||||||
| Total | 494 | $ | 65,582 | 120 | $ | 11,006 | |||||||||||||||||
| June 30, 2022 | Loans Currently Paying Under Restructured Terms | Loans that have Defaulted Under Restructured Terms | |||||||||||||||||||||
| Loan Class | # | Balance (in thousands) | # | Balance (in thousands) | |||||||||||||||||||
| Commercial, financial and agricultural | 11 | $ | 971 | 1 | $ | 357 | |||||||||||||||||
| Consumer installment | 8 | 13 | 6 | 10 | |||||||||||||||||||
| Indirect automobile | 182 | 697 | 44 | 184 | |||||||||||||||||||
| Premium finance | 6 | 993 | — | — | |||||||||||||||||||
| Real estate – construction and development | 2 | 706 | — | — | |||||||||||||||||||
| Real estate – commercial and farmland | 21 | 8,993 | 1 | 8 | |||||||||||||||||||
| Real estate – residential | 198 | 23,052 | 43 | 5,773 | |||||||||||||||||||
| Total | 428 | $ | 35,425 | 95 | $ | 6,332 | |||||||||||||||||
| December 31, 2021 | Loans Currently Paying Under Restructured Terms | Loans that have Defaulted Under Restructured Terms | |||||||||||||||||||||
| Loan Class | # | Balance (in thousands) | # | Balance (in thousands) | |||||||||||||||||||
| Commercial, financial and agricultural | 11 | $ | 1,269 | 7 | $ | 100 | |||||||||||||||||
| Consumer installment | 10 | 17 | 14 | 34 | |||||||||||||||||||
| Indirect automobile | 233 | 1,052 | 52 | 258 | |||||||||||||||||||
| Real estate – construction and development | 4 | 789 | 1 | 13 | |||||||||||||||||||
| Real estate – commercial and farmland | 29 | 41,452 | 1 | 47 | |||||||||||||||||||
| Real estate – residential | 215 | 26,956 | 37 | 4,601 | |||||||||||||||||||
| Total | 502 | $ | 71,535 | 112 | $ | 5,053 | |||||||||||||||||
| June 30, 2022 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||
| Type of Concession | # | Balance (in thousands) | # | Balance (in thousands) | |||||||||||||||||||
| Forgiveness of interest | 3 | $ | 283 | — | $ | — | |||||||||||||||||
| Forbearance of interest | 15 | 1,070 | 1 | 41 | |||||||||||||||||||
| Forbearance of principal | 288 | 21,748 | 49 | 4,725 | |||||||||||||||||||
| Rate reduction only | 54 | 5,311 | 2 | 160 | |||||||||||||||||||
| Rate reduction, forbearance of interest | 32 | 2,385 | 2 | 25 | |||||||||||||||||||
| Rate reduction, forbearance of principal | 17 | 2,336 | 21 | 573 | |||||||||||||||||||
| Rate reduction, forgiveness of interest | 36 | 2,967 | 3 | 133 | |||||||||||||||||||
| Total | 445 | $ | 36,100 | 78 | $ | 5,657 | |||||||||||||||||
| December 31, 2021 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||
| Type of Concession | # | Balance (in thousands) | # | Balance (in thousands) | |||||||||||||||||||
| Forgiveness of interest | 3 | $ | 287 | — | $ | — | |||||||||||||||||
| Forbearance of interest | 16 | 1,218 | 1 | 15 | |||||||||||||||||||
| Forbearance of principal | 332 | 49,778 | 73 | 9,783 | |||||||||||||||||||
| Rate reduction only | 55 | 6,321 | 4 | 200 | |||||||||||||||||||
| Rate reduction, maturity extension | — | — | 1 | 1 | |||||||||||||||||||
| Rate reduction, forbearance of interest | 33 | 2,296 | 6 | 319 | |||||||||||||||||||
| Rate reduction, forbearance of principal | 18 | 2,694 | 29 | 363 | |||||||||||||||||||
| Rate reduction, forgiveness of interest | 37 | 2,988 | 6 | 325 | |||||||||||||||||||
| Total | 494 | $ | 65,582 | 120 | $ | 11,006 | |||||||||||||||||
| June 30, 2022 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||
| Collateral Type | # | Balance (in thousands) | # | Balance (in thousands) | |||||||||||||||||||
| Warehouse | 3 | $ | 57 | 2 | $ | 251 | |||||||||||||||||
| Raw land | 3 | 1,751 | 2 | 51 | |||||||||||||||||||
| Hotel and motel | 1 | 130 | — | — | |||||||||||||||||||
| Office | 4 | 613 | — | — | |||||||||||||||||||
| Retail, including strip centers | 7 | 3,978 | 1 | 496 | |||||||||||||||||||
| 1-4 family residential | 210 | 24,456 | 30 | 4,359 | |||||||||||||||||||
| Church | 2 | 2,390 | — | — | |||||||||||||||||||
| Automobile/equipment/CD | 209 | 1,732 | 43 | 500 | |||||||||||||||||||
| Unsecured | 6 | 993 | — | — | |||||||||||||||||||
| Total | 445 | $ | 36,100 | 78 | $ | 5,657 | |||||||||||||||||
| December 31, 2021 | Accruing Loans | Non-Accruing Loans | |||||||||||||||||||||
| Collateral Type | # | Balance (in thousands) | # | Balance (in thousands) | |||||||||||||||||||
| Warehouse | 3 | $ | 61 | 2 | $ | 272 | |||||||||||||||||
| Raw land | 6 | 3,776 | 1 | 13 | |||||||||||||||||||
| Hotel and motel | 4 | 22,069 | 1 | 4,798 | |||||||||||||||||||
| Office | 5 | 710 | 1 | 485 | |||||||||||||||||||
| Retail, including strip centers | 8 | 7,118 | 1 | 370 | |||||||||||||||||||
| 1-4 family residential | 215 | 27,129 | 39 | 4,678 | |||||||||||||||||||
| Church | 2 | 2,393 | — | — | |||||||||||||||||||
| Automobile/equipment/CD | 251 | 2,326 | 75 | 390 | |||||||||||||||||||
| Total | 494 | $ | 65,582 | 120 | $ | 11,006 | |||||||||||||||||
| June 30, 2022 | December 31, 2021 | ||||||||||||||||||||||
| (dollars in thousands) | Balance | % of Total Loans | Balance | % of Total Loans | |||||||||||||||||||
| Construction and development loans | $ | 1,747,284 | 10% | $ | 1,452,339 | 9% | |||||||||||||||||
| Multi-family loans | 693,382 | 4% | 596,000 | 4% | |||||||||||||||||||
| Nonfarm non-residential loans (excluding owner-occupied) | 4,539,983 | 26% | 4,341,436 | 27% | |||||||||||||||||||
Total CRE Loans (excluding owner-occupied) | 6,980,649 | 40% | 6,389,775 | 40% | |||||||||||||||||||
| All other loan types | 10,580,373 | 60% | 9,484,483 | 60% | |||||||||||||||||||
| Total Loans | $ | 17,561,022 | 100% | $ | 15,874,258 | 100% | |||||||||||||||||
| Internal Limit | Actual | ||||||||||||||||
| June 30, 2022 | December 31, 2021 | ||||||||||||||||
| Construction and development loans | 100% | 72% | 66% | ||||||||||||||
| Total CRE loans (excluding owner-occupied) | 300% | 288% | 291% | ||||||||||||||
| June 30, 2022 | December 31, 2021 | ||||||||||
Tier 1 Leverage Ratio (tier 1 capital to average assets) | |||||||||||
| Consolidated | 9.01% | 8.63% | |||||||||
| Ameris Bank | 10.30% | 9.50% | |||||||||
CET1 Ratio (common
equity tier 1 capital to risk weighted assets) | |||||||||||
| Consolidated | 10.11% | 10.46% | |||||||||
| Ameris Bank | 11.54% | 11.50% | |||||||||
Tier 1 Capital Ratio (tier 1 capital to risk weighted assets) | |||||||||||
| Consolidated | 10.11% | 10.46% | |||||||||
| Ameris Bank | 11.54% | 11.50% | |||||||||
Total Capital Ratio (total capital to risk weighted assets) | |||||||||||
| Consolidated | 13.27% | 13.78% | |||||||||
| Ameris Bank | 12.61% | 12.45% | |||||||||
| June
30, 2022 | March 31, 2022 | December 31, 2021 | September 30, 2021 | June 30, 2021 | |||||||||||||||||||||||||
| Investment securities available-for-sale to total deposits | 5.35% | 2.96% | 3.01% | 3.63% | 4.26% | ||||||||||||||||||||||||
| Loans (net of unearned income) to total deposits | 89.21% | 82.41% | 80.72% | 78.71% | 80.96% | ||||||||||||||||||||||||
| Interest-earning assets to total assets | 89.88% | 90.43% | 90.56% | 91.20% | 90.79% | ||||||||||||||||||||||||
| Interest-bearing deposits to total deposits | 58.02% | 59.82% | 60.46% | 59.56% | 61.75% | ||||||||||||||||||||||||
| Period | Total Number
of Shares Purchased | Average Price Paid Per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Approximate Dollar Value of Shares That May Yet be Purchased Under the Plans or Programs(1) | ||||||||||||||||||||||
April
1, 2022 through April 30, 2022 | — | $ | — | — | $ | 63,310,664 | ||||||||||||||||||||
| May 1, 2022 through May 31, 2022 | 118,157 | $ | 42.72 | 118,157 | $ | 58,262,530 | ||||||||||||||||||||
| June 1, 2022 through June 30, 2022 | — | $ | — | — | $ | 58,262,530 | ||||||||||||||||||||
| Total | 118,157 | $ | — | 118,157 | $ | 58,262,530 | ||||||||||||||||||||
| Exhibit Number | Description | |||||||
| 3.1 | Articles of Incorporation of Ameris Bancorp, as amended (incorporated by reference to Exhibit 2.1 to Ameris Bancorp’s Regulation A Offering Statement on Form 1-A filed with the SEC on August 14, 1987). | |||||||
| Articles of Amendment to the Articles of Incorporation of Ameris Bancorp (incorporated by reference to Exhibit 3.7 to Ameris Bancorp’s Annual Report on Form 10-K filed with the SEC on March 26, 1999). | ||||||||
| Articles of Amendment to the Articles of Incorporation of Ameris Bancorp (incorporated by reference to Exhibit 3.9 to Ameris Bancorp’s Annual Report on Form 10-K filed with the SEC on March 31, 2003). | ||||||||
| Articles of Amendment to the Articles of Incorporation of Ameris Bancorp (incorporated by reference to Exhibit 3.1 to Ameris Bancorp’s Current Report on Form 8-K filed with the SEC on December 1, 2005). | ||||||||
| Articles of Amendment to the Articles of Incorporation of Ameris Bancorp (incorporated by reference to Exhibit 3.1 to Ameris Bancorp’s Current Report on Form 8-K filed with the SEC on November 21, 2008). | ||||||||
| Articles of Amendment to the Articles of Incorporation of Ameris Bancorp (incorporated by reference to Exhibit 3.1 to Ameris Bancorp’s Current Report on Form 8-K filed with the SEC on June 1, 2011). | ||||||||
| Articles of Amendment to the Articles of Incorporation of Ameris Bancorp (incorporated by reference to Exhibit 3.7 to Ameris Bancorp's Quarterly Report on Form 10-Q filed with the SEC on August 10, 2020). | ||||||||
| Bylaws of Ameris Bancorp, as amended and restated through June 11, 2020 (incorporated by reference to Exhibit 3.8 to Ameris Bancorp's Quarterly Report on Form 10-Q filed with the SEC on August 10, 2020). | ||||||||
| Ameris Bancorp 2021 Omnibus Equity Incentive Plan, as amended and restated through July 26, 2022. | ||||||||
| Summary of Director Compensation. | ||||||||
| Rule 13a-14(a)/15d-14(a) Certification by the Company’s Chief Executive Officer. | ||||||||
| Rule 13a-14(a)/15d-14(a) Certification by the Company’s Chief Financial Officer. | ||||||||
| Section 1350 Certification by the Company’s Chief Executive Officer. | ||||||||
| Section 1350 Certification by the Company’s Chief Financial Officer. | ||||||||
| 101.INS | XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. | |||||||
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document. | |||||||
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document. | |||||||
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document. | |||||||
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document. | |||||||
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document. | |||||||
| 104 | Cover Page Interactive Data File - the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. | |||||||
| Dated: August 5, 2022 | AMERIS BANCORP | ||||
| /s/ Nicole S. Stokes | |||||
| Nicole S. Stokes | |||||
| Chief Financial Officer (duly authorized signatory and principal accounting and financial officer) | |||||
| This ‘10-Q’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| 9/29/31 | ||||
| 12/9/30 | ||||
| 10/1/30 | ||||
| 5/31/30 | ||||
| 3/4/30 | ||||
| 12/15/29 | ||||
| 3/15/27 | ||||
| 3/2/27 | ||||
| 6/1/26 | ||||
| 9/30/25 | ||||
| 5/31/25 | ||||
| 3/3/25 | ||||
| 12/14/24 | ||||
| 12/31/22 | ||||
| 12/15/22 | ||||
| 10/31/22 | ||||
| Filed on: | 8/5/22 | |||
| 7/31/22 | ||||
| 7/26/22 | 8-K | |||
| For Period end: | 6/30/22 | |||
| 6/1/22 | ||||
| 5/31/22 | ||||
| 5/1/22 | ||||
| 4/30/22 | ||||
| 4/1/22 | ||||
| 3/31/22 | 10-Q | |||
| 3/14/22 | ||||
| 12/31/21 | 10-K, 11-K, 5 | |||
| 10/28/21 | 8-K | |||
| 9/30/21 | 10-Q, 4 | |||
| 6/30/21 | 10-Q, 8-K/A | |||
| 3/31/21 | 10-Q | |||
| 12/31/20 | 10-K, 11-K, 5 | |||
| 10/31/20 | ||||
| 10/22/20 | 8-K | |||
| 8/10/20 | 10-Q | |||
| 6/11/20 | 4, 8-K, DEF 14A, PRE 14A | |||
| 3/31/20 | 10-Q | |||
| 3/12/20 | 4 | |||
| 9/19/19 | ||||
| 6/1/11 | 8-K | |||
| 11/21/08 | 8-K | |||
| 12/1/05 | 8-K | |||
| 3/31/03 | 10-K, 10-Q | |||
| 3/26/99 | 10-K405, DEF 14A | |||
| List all Filings | ||||
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 2/28/24 Ameris Bancorp 10-K 12/31/23 150:27M 2/28/23 Ameris Bancorp 10-K 12/31/22 152:30M 11/07/22 Ameris Bancorp 10-Q 9/30/22 80:19M |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 8/10/20 Ameris Bancorp 10-Q 6/30/20 100:27M 6/01/11 Ameris Bancorp 8-K:5,8,9 6/01/11 2:32K Donnelley … Solutions/FA 11/21/08 Ameris Bancorp 8-K:1 11/21/08 6:854K 12/01/05 Ameris Bancorp 8-K:5,9 12/01/05 2:22K Donnelley … Solutions/FA 3/31/03 Ameris Bancorp 10-K 12/31/02 10:2.6M Donnelley Fin’l S… 10/FA 3/26/99 Ameris Bancorp 10-K405 12/31/98 5:241K Donnelley Fin’l S… 10/FA |