Portfolio Loans (Tables) | 12 Months Ended |
Dec. 31, 2020 |
Non-covered Loans [Line Items] | |
Summary of Loans to Executive Officers and Directors | Following is a summary of activity for the years ended December 31, 2020 and 2019 of loans to executive officers and directors, or to entities in which such individuals had beneficial interests as a shareholder, officer, or director. Such loans were made in the normal course of business on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other customers and did not involve more than the normal risk of collectibility. ($ in thousands) December 31, 2020 December 31, 2019 Balance at beginning of year $ 5,475 $ 17,169 New loans and advances 2,013 1,376 Payments and other reductions (1,771) (13,070) Balance at end of year $ 5,717 $ 5,475 Following is a summary of activity for the year ended December 31, 2020, for deposit accounts of executive officers and directors, or to entities in which such individuals had beneficial interests as a shareholder, officer, or director. ($ in thousands) December 31, 2020 Balance at beginning of year $ 9,763 Deposits 2,441 Withdrawals (4,961) Balance at end of year $ 7,243 |
Schedule of Collateral Dependent Loans | The following table presents the amortized cost basis of collateral-dependent nonperforming loans by class of loan at December 31, 2020: Type of Collateral (in thousands) Commercial Real Estate Residential Real Estate Blanket Lien Other Commercial and industrial $ 8,316 $ — $ 394 $ — Real estate: Commercial - investor owned 9,579 — — — Commercial - owner occupied 2,940 — — — Residential — 4,135 — — Other — — — 17 Total $ 20,835 $ 4,135 $ 394 $ 17 |
Acquired PCD Loans | The Company has purchased loans, for which there was, at acquisition, evidence of more than insignificant deterioration of credit quality since origination. The carrying amount of those loans is as follows: ($ in thousands) At November 12, 2020 Par value of acquired loans $ 137,693 Allowance for credit losses (3,524) Non-credit premium 928 Purchase price of acquired loans $ 135,097 |
Non-Covered Loans | |
Non-covered Loans [Line Items] | |
Summary of Portfolio Loans by Category | Below is a summary of loans by category at December 31, 2020 and 2019: ($ in thousands) December 31, 2020 December 31, 2019* Commercial and industrial $ 3,100,299 $ 2,361,157 Real estate loans: Commercial - investor owned 1,589,419 1,299,884 Commercial - owner occupied 1,498,408 697,437 Construction and land development 546,686 457,273 Residential 319,179 366,261 Total real estate loans 3,953,692 2,820,855 Other 187,083 134,941 Loans, before unearned loan fees 7,241,074 5,316,953 Unearned loan fees, net (16,139) (2,616) Loans, including unearned loan fees $ 7,224,935 $ 5,314,337 |
Summary of Allowance for Loan Losses and the Recorded Investment in Portfolio Loans by Class and Category Based on Impairment Method | A summary of the activity, by loan category, in the allowance for loan losses for 2018 and 2019, excluding the allowance on PCI loans, and the ACL on loans for 2020 is as follows: ($ in thousands) Commercial and industrial CRE - investor owned CRE - owner occupied Construction and land development Residential real estate Other Total Balance at December 31, 2018 Allowance for loan losses: Balance, beginning of year $ 26,406 $ 3,890 $ 3,308 $ 1,487 $ 2,237 $ 838 $ 38,166 Provision for loan losses 8,394 709 1,216 97 (583) (20) 9,813 Charge-offs (6,894) — (313) (56) (546) (167) (7,976) Recoveries 1,133 84 28 459 508 80 2,292 Balance, end of year $ 29,039 $ 4,683 $ 4,239 $ 1,987 $ 1,616 $ 731 $ 42,295 Balance at December 31, 2019 Allowance for loan losses: Balance, beginning of year $ 29,039 $ 4,683 $ 4,239 $ 1,987 $ 1,616 $ 731 $ 42,295 Provision for loan losses 4,801 1,708 673 (237) (330) 67 6,682 Charge-offs (6,882) (551) (58) (54) (667) (382) (8,594) Recoveries 338 95 19 776 661 295 2,184 Balance, end of year $ 27,296 $ 5,935 $ 4,873 $ 2,472 $ 1,280 $ 711 $ 42,567 Balance at December 31, 2020 Allowance for credit losses: Balance at December 31, 2019 $ 27,296 $ 5,935 $ 4,873 $ 2,472 $ 1,280 $ 711 $ 42,567 PCI allowance at December 31, 2019 159 — — 139 — 423 721 CECL adoption 6,494 10,726 2,598 5,183 3,470 (84) 28,387 PCD loans immediately charged off — (5) (57) (217) (1,401) — (1,680) Balance, beginning of year $ 33,949 $ 16,656 $ 7,414 $ 7,577 $ 3,349 $ 1,050 $ 69,995 Provision for loan losses 28,373 11,037 7,845 13,438 674 2,012 63,379 Initial allowance on acquired PCD loans 23 2,026 1,427 45 3 — 3,524 Charge-offs (5,381) (498) (30) (31) (408) (391) (6,739) Recoveries 1,848 2,841 356 384 967 116 6,512 Balance, end of year $ 58,812 $ 32,062 $ 17,012 $ 21,413 $ 4,585 $ 2,787 $ 136,671 |
Summary of Portfolio Loans Individually Evaluated for Impairment and Recorded Investment in Impaired Non-Covered Loans by Category | |
Schedule of Recorded Investment in Impaired Portfolio Loans by Category | The recorded investment in nonperforming loans by category at December 31, 2020 and 2019 is as follows: December 31, 2020 ($ in thousands) Non-accrual Restructured, accruing Loans over 90 days past due and still accruing interest Total nonperforming loans Nonaccrual loans with no allowance Commercial and industrial $ 18,158 $ 3,482 $ 130 $ 21,770 $ 8,316 Real estate: Commercial - investor owned 9,579 — — 9,579 716 Commercial - owner occupied 2,940 — — 2,940 6,024 Residential 4,112 77 — 4,189 Other 29 — — 29 3,190 Total $ 34,818 $ 3,559 $ 130 $ 38,507 $ 18,246 December 31, 2019 ($ in thousands) Non-accrual Restructured, accruing Loans over 90 days past due and still accruing interest Total nonperforming loans Nonaccrual loans with no allowance Commercial and industrial $ 22,328 $ — $ 250 $ 22,578 $ 7,654 Real estate: Commercial - investor owned 2,303 — — 2,303 811 Commercial - owner occupied 213 — — 213 213 Residential 1,251 79 — 1,330 1,120 Other 1 — — 1 — Total $ 26,096 $ 79 $ 250 $ 26,425 $ 9,798 |
Summary of Recorded Investment by for Portfolio Loans Restructured | The recorded investment by category for loans restructured during the years ended December 31, 2020 and 2019 is as follows: Year ended December 31, 2020 Year ended December 31, 2019 ($ in thousands, except for number of loans) Number of Loans Pre-Modification Outstanding Post-Modification Outstanding Number of Loans Pre-Modification Outstanding Post-Modification Outstanding Commercial and industrial 3 $ 7,447 $ 7,447 — $ — $ — Real estate: Commercial - owner occupied — — — 1 188 188 Residential 3 372 372 2 332 332 Total 6 $ 7,819 $ 7,819 3 $ 520 $ 520 |
Summary of Recorded Investment by Category for Portfolio Loans Restructured and Subsequently Defaulted | Restructured loans primarily resulted from interest rate concessions. As of December 31, 2020, the Company allocated an immaterial amount in specific reserves to loans that have been restructured. Loans restructured that subsequently defaulted during the year ended December 31, 2019 are as follows: Year ended December 31, 2019 ($ in thousands, except for number of loans) Number of Loans Recorded Balance Commercial and industrial 2 $ 352 Total 2 $ 352 |
Summary of Aging of Recorded Investment in Past Due Portfolio Loans by Portfolio Class and Category | The aging of the recorded investment in past due loans by class and category at December 31, 2020 and 2019 is shown below: December 31, 2020 ($ in thousands) 30-89 Days 90 or More Total Current Total Commercial and industrial $ 8,652 $ 12,928 $ 21,580 $ 3,067,415 $ 3,088,995 Real estate: Commercial - investor owned 734 9,301 10,035 1,579,384 1,589,419 Commercial - owner occupied 328 4,647 4,975 1,493,433 1,498,408 Construction and land development 13 — 13 546,673 546,686 Residential 2,071 2,118 4,189 314,990 319,179 Other 1,731 50 1,781 180,467 182,248 Total $ 13,529 $ 29,044 $ 42,573 $ 7,182,362 $ 7,224,935 December 31, 2019 ($ in thousands) 30-89 Days 90 or More Total Current Total Commercial and industrial $ 5,679 $ 8,212 $ 13,891 $ 2,331,932 $ 2,345,823 Real estate: Commercial - investor owned 321 1,492 1,813 1,261,168 1,262,981 Commercial - owner occupied 562 213 775 677,747 678,522 Construction and land development 308 — 308 449,072 449,380 Residential 4,689 595 5,284 349,908 355,192 Other 81 — 81 132,069 132,150 Total $ 11,640 $ 10,512 $ 22,152 $ 5,201,896 $ 5,224,048 |
Summary of Recorded Investment by Risk Category of Portfolio Loans by Portfolio Class and Category | The recorded investment by risk category of the loans by class at December 31, 2020, which is based upon the most recent analysis performed is as follows: Term Loans by Origination Year (in thousands) 2020 2019 2018 2017 2016 Prior Revolving Loans Converted to Term Loans Revolving Loans Total Commercial and industrial Pass (1-6) $ 1,402,276 $ 454,729 $ 262,258 $ 132,832 $ 25,057 $ 58,315 $ 14,118 $ 527,170 $ 2,876,755 Watch (7) 44,922 15,369 9,585 7,509 19,613 110 — 60,448 157,556 Classified (8-9) 6,602 9,219 3,115 3,964 4,490 1,080 1,281 22,432 52,183 Total Commercial and industrial $ 1,453,800 $ 479,317 $ 274,958 $ 144,305 $ 49,160 $ 59,505 $ 15,399 $ 610,050 $ 3,086,494 Commercial real estate-investor owned Pass (1-6) $ 481,867 $ 338,843 $ 189,305 $ 131,718 $ 138,288 $ 161,439 $ 6,509 $ 32,058 $ 1,480,027 Watch (7) 32,308 19,722 6,656 — 9,647 17,370 — — 85,703 Classified (8-9) — 5,278 8,716 5,830 1,245 2,620 — — 23,689 Total Commercial real estate-investor owned $ 514,175 $ 363,843 $ 204,677 $ 137,548 $ 149,180 $ 181,429 $ 6,509 $ 32,058 $ 1,589,419 Commercial real estate-owner occupied Pass (1-6) $ 419,142 $ 287,001 $ 215,181 $ 179,382 $ 104,470 $ 167,456 $ 2,672 $ 45,323 $ 1,420,627 Watch (7) 13,657 5,257 3,113 6,198 4,338 8,460 1,776 941 43,740 Classified (8-9) 2,420 7,427 5,822 6,140 1,309 10,860 — 63 34,041 Total Commercial real estate-owner occupied $ 435,219 $ 299,685 $ 224,116 $ 191,720 $ 110,117 $ 186,776 $ 4,448 $ 46,327 $ 1,498,408 Construction real estate Pass (1-6) $ 223,069 $ 156,360 $ 45,460 $ 18,579 $ 11,539 $ 9,144 $ — $ 28,880 $ 493,031 Watch (7) 2,544 86 34,179 11,632 — 2,499 — — 50,940 Classified (8-9) 56 2,124 503 1 — 31 — — 2,715 Total Construction real estate $ 225,669 $ 158,570 $ 80,142 $ 30,212 $ 11,539 $ 11,674 $ — $ 28,880 $ 546,686 Residential real estate Pass (1-6) $ 57,059 $ 27,907 $ 17,718 $ 17,138 $ 27,443 $ 92,657 $ 1,172 $ 66,902 $ 307,996 Watch (7) 210 840 526 — 514 1,603 287 511 4,491 Classified (8-9) 571 733 121 14 898 3,181 — 253 5,771 Total residential real estate $ 57,840 $ 29,480 $ 18,365 $ 17,152 $ 28,855 $ 97,441 $ 1,459 $ 67,666 $ 318,258 Other Pass (1-6) $ 43,526 $ 28,195 $ 30,074 $ 9,646 $ 5,641 $ 17,027 $ — $ 40,779 $ 174,888 Watch (7) — 1 8 — — 2,637 — 1 2,647 Classified (8-9) — 18 19 13 — 17 8 4 79 Total Other $ 43,526 $ 28,214 $ 30,101 $ 9,659 $ 5,641 $ 19,681 $ 8 $ 40,784 $ 177,614 In the table above, loan originations in 2020 and 2019 with a classification of watch or classified primarily represent renewals or modifications initially underwritten and originated in prior years. For certain loans, primarily credit cards, the Company evaluates credit quality based on the aging status. The following table presents the recorded investment on loans based on payment activity: December 31, 2020 (in thousands) Performing Non Performing Total Commercial and industrial $ 2,502 $ — $ 2,502 Real estate: Residential 921 — 921 Other 4,612 21 4,633 Total $ 8,035 $ 21 $ 8,056 The recorded investment by risk category of the loans by class and category at December 31, 2019 is as follows: December 31, 2019 ($ in thousands) Pass (1-6) Watch (7) Classified (8 & 9) Total* Commercial and industrial $ 2,151,084 $ 124,718 $ 70,021 $ 2,345,823 Real estate: Commercial - investor owned 1,242,569 17,572 2,840 1,262,981 Commercial - owner occupied 643,276 28,773 6,473 678,522 Construction and land development 437,134 12,140 106 449,380 Residential 348,246 4,450 2,496 355,192 Other 132,096 3 51 132,150 Total $ 4,954,405 $ 187,656 $ 81,987 $ 5,224,048 *Excludes $90.3 million of loans previously accounted for as PCI |