Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2021 | Nov. 04, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Entity Interactive Data Current | Yes | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2021 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q3 | |
Entity Registrant Name | HOME BANCSHARES, INC. | |
Entity Central Index Key | 0001331520 | |
Entity File Number | 000-51904 | |
Entity Tax Identification Number | 71-0682831 | |
Entity Incorporation, State or Country Code | AR | |
Current Fiscal Year End Date | --12-31 | |
Entity Current Reporting Status | Yes | |
Entity Shell Company | false | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Address, Address Line One | 719 Harkrider, Suite 100 | |
Entity Address, City or Town | Conway | |
Entity Address, State or Province | AR | |
Entity Address, Postal Zip Code | 72032 | |
City Area Code | 501 | |
Local Phone Number | 339-2929 | |
Trading Symbol | HOMB | |
Security Exchange Name | NASDAQ | |
Title of 12(b) Security | Common Stock, par value $0.01 per share | |
Entity Common Stock, Shares Outstanding | 163,845,498 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Assets | ||
Cash and due from banks | $ 146,378 | $ 242,173 |
Interest-bearing deposits with other banks | 3,133,878 | 1,021,615 |
Cash and cash equivalents | 3,280,256 | 1,263,788 |
Investment securities – available-for-sale, net of allowance for credit losses | 3,150,608 | 2,473,781 |
Loans receivable | 9,901,100 | 11,220,721 |
Allowance for credit losses | (238,673) | (245,473) |
Loans receivable, net | 9,662,427 | 10,975,248 |
Bank premises and equipment, net | 276,972 | 278,614 |
Foreclosed assets held for sale | 1,171 | 4,420 |
Cash value of life insurance | 104,638 | 103,519 |
Accrued interest receivable | 48,577 | 60,528 |
Deferred tax asset, net | 69,724 | 70,249 |
Goodwill | 973,025 | 973,025 |
Core deposit and other intangibles | 26,466 | 30,728 |
Other assets | 171,192 | 164,904 |
Total assets | 17,765,056 | 16,398,804 |
Deposits: | ||
Demand and non-interest-bearing | 4,139,149 | 3,266,753 |
Savings and interest-bearing transaction accounts | 8,813,326 | 8,212,240 |
Time deposits | 1,050,896 | 1,246,797 |
Total deposits | 14,003,371 | 12,725,790 |
Securities sold under agreements to repurchase | 141,002 | 168,931 |
FHLB and other borrowed funds | 400,000 | 400,000 |
Accrued interest payable and other liabilities | 113,721 | 127,999 |
Subordinated debentures | 370,900 | 370,326 |
Total liabilities | 15,028,994 | 13,793,046 |
Stockholders’ equity: | ||
Common stock, par value $0.01; shares authorized 300,000,000 in 2021 and 2020; shares issued and outstanding 164,007,998 in 2021 and 165,095,252 in 2020 | 1,640 | 1,651 |
Capital surplus | 1,492,588 | 1,520,617 |
Retained earnings | 1,215,831 | 1,039,370 |
Accumulated other comprehensive income | 26,003 | 44,120 |
Total stockholders’ equity | 2,736,062 | 2,605,758 |
Total liabilities and stockholders’ equity | $ 17,765,056 | $ 16,398,804 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2021 | Dec. 31, 2020 |
Statement Of Financial Position [Abstract] | ||
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 300,000,000 | 300,000,000 |
Common stock, shares issued | 164,007,998 | 165,095,252 |
Common stock, shares outstanding | 164,007,998 | 165,095,252 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Interest income: | ||||
Loans | $ 142,609 | $ 154,787 | $ 435,210 | $ 471,931 |
Investment securities | ||||
Taxable | 8,495 | 7,227 | 21,933 | 25,696 |
Tax-exempt | 4,839 | 4,367 | 14,815 | 11,179 |
Deposits – other banks | 1,117 | 252 | 2,234 | 1,579 |
Federal funds sold | 21 | |||
Total interest income | 157,060 | 166,633 | 474,192 | 510,406 |
Interest expense: | ||||
Interest on deposits | 5,642 | 13,200 | 19,781 | 52,514 |
Federal funds purchased | 13 | |||
FHLB and other borrowed funds | 1,917 | 2,235 | 5,688 | 7,589 |
Securities sold under agreements to repurchase | 102 | 237 | 399 | 959 |
Subordinated debentures | 4,788 | 4,823 | 14,373 | 14,801 |
Total interest expense | 12,449 | 20,495 | 40,241 | 75,876 |
Net interest income | 144,611 | 146,138 | 433,951 | 434,530 |
Provision for credit losses | 14,000 | 112,264 | ||
Provision for credit losses - unfunded commitments | (4,752) | 16,989 | ||
Total credit loss (benefit) expense | 14,000 | (4,752) | 129,253 | |
Net interest income after provision for credit losses | 144,611 | 132,138 | 438,703 | 305,277 |
Non-interest income: | ||||
Trust fees | 479 | 378 | 1,445 | 1,213 |
Mortgage lending income | 5,948 | 10,177 | 20,317 | 18,994 |
Insurance commissions | 586 | 271 | 1,556 | 1,482 |
Increase in cash value of life insurance | 509 | 548 | 1,548 | 1,666 |
Dividends from FHLB, FRB, FNBB & other | 2,661 | 3,433 | 13,916 | 11,505 |
Gain on sale of SBA loans | 439 | 1,588 | 341 | |
(Loss) gain on sale of branches, equipment and other assets, net | (34) | (27) | (86) | 109 |
Gain on OREO, net | 246 | 470 | 1,266 | 982 |
Gain on securities, net | 219 | |||
Fair value adjustment for marketable securities | 61 | (1,350) | 7,093 | (6,249) |
Other income | 4,322 | 2,602 | 15,366 | 9,760 |
Total non-interest income | 29,209 | 29,951 | 105,605 | 77,901 |
Non-interest expense: | ||||
Salaries and employee benefits | 42,469 | 41,511 | 126,990 | 120,928 |
Occupancy and equipment | 9,305 | 9,566 | 27,584 | 28,611 |
Data processing expense | 6,024 | 4,921 | 17,787 | 13,861 |
Merger and acquisition expenses | 1,006 | 1,006 | 711 | |
Other operating expenses | 16,815 | 15,714 | 48,100 | 49,033 |
Total non-interest expense | 75,619 | 71,712 | 221,467 | 213,144 |
Income before income taxes | 98,201 | 90,377 | 322,841 | 170,034 |
Income tax expense | 23,209 | 21,057 | 77,177 | 37,380 |
Net income | $ 74,992 | $ 69,320 | $ 245,664 | $ 132,654 |
Basic earnings per share | $ 0.46 | $ 0.42 | $ 1.49 | $ 0.80 |
Diluted earnings per share | $ 0.46 | $ 0.42 | $ 1.49 | $ 0.80 |
Service Charges on Deposit Accounts [Member] | ||||
Non-interest income: | ||||
Service charges | $ 5,941 | $ 4,910 | $ 16,059 | $ 15,837 |
Other Service Charges and Fees [Member] | ||||
Non-interest income: | ||||
Service charges | $ 8,051 | $ 8,539 | $ 25,318 | $ 22,261 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net income | $ 74,992 | $ 69,320 | $ 245,664 | $ 132,654 |
Net unrealized (loss) gain on available-for-sale securities | (4,218) | (896) | (24,527) | 29,952 |
Other comprehensive (loss) income. before tax effect | (4,218) | (896) | (24,527) | 29,952 |
Tax effect on other comprehensive (loss) income | 1,102 | 234 | 6,410 | (7,828) |
Other comprehensive (loss) income | (3,116) | (662) | (18,117) | 22,124 |
Comprehensive income | $ 71,876 | $ 68,658 | $ 227,547 | $ 154,778 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Cumulative Effect Period of Adoption Adjustment [Member] | Cumulative Effect Period of Adoption Adjusted Balance [Member] | Common Stock [Member] | Common Stock [Member]Cumulative Effect Period of Adoption Adjusted Balance [Member] | Capital Surplus [Member] | Capital Surplus [Member]Cumulative Effect Period of Adoption Adjusted Balance [Member] | Retained Earnings [Member] | Retained Earnings [Member]Cumulative Effect Period of Adoption Adjustment [Member] | Retained Earnings [Member]Cumulative Effect Period of Adoption Adjusted Balance [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Accumulated Other Comprehensive Income (Loss) [Member]Cumulative Effect Period of Adoption Adjusted Balance [Member] |
Beginning Balance at Dec. 31, 2019 | $ 2,511,531 | $ 2,467,575 | $ 1,664 | $ 1,664 | $ 1,537,091 | $ 1,537,091 | $ 956,555 | $ 912,599 | $ 16,221 | $ 16,221 | ||
Beginning Balance (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2019 | $ (43,956) | $ (43,956) | ||||||||||
Comprehensive income: | ||||||||||||
Net income | 507 | 507 | ||||||||||
Other comprehensive income (loss) | 4,750 | 4,750 | ||||||||||
Net issuance of shares of common stock from exercise of stock options | 422 | 422 | ||||||||||
Repurchase of shares of common stock | (23,857) | (14) | (23,843) | |||||||||
Share-based compensation net issuance of shares of restricted common stock | 2,482 | 1 | 2,481 | |||||||||
Cash dividends - Common Stock | (21,608) | (21,608) | ||||||||||
Ending balance at Mar. 31, 2020 | 2,430,271 | 1,651 | 1,516,151 | 891,498 | 20,971 | |||||||
Beginning Balance at Dec. 31, 2019 | 2,511,531 | $ 2,467,575 | 1,664 | $ 1,664 | 1,537,091 | $ 1,537,091 | 956,555 | $ 912,599 | 16,221 | $ 16,221 | ||
Beginning Balance (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2019 | $ (43,956) | $ (43,956) | ||||||||||
Comprehensive income: | ||||||||||||
Net income | 132,654 | |||||||||||
Other comprehensive income (loss) | 22,124 | |||||||||||
Ending balance at Sep. 30, 2020 | 2,540,799 | 1,652 | 1,520,103 | 980,699 | 38,345 | |||||||
Beginning Balance at Mar. 31, 2020 | 2,430,271 | 1,651 | 1,516,151 | 891,498 | 20,971 | |||||||
Comprehensive income: | ||||||||||||
Net income | 62,827 | 62,827 | ||||||||||
Other comprehensive income (loss) | 18,036 | 18,036 | ||||||||||
Share-based compensation net issuance of shares of restricted common stock | 2,481 | 1 | 2,480 | |||||||||
Cash dividends - Common Stock | (21,469) | (21,469) | ||||||||||
Ending balance at Jun. 30, 2020 | 2,492,146 | 1,652 | 1,518,631 | 932,856 | 39,007 | |||||||
Comprehensive income: | ||||||||||||
Net income | 69,320 | 69,320 | ||||||||||
Other comprehensive income (loss) | (662) | (662) | ||||||||||
Share-based compensation net issuance of shares of restricted common stock | 1,472 | 1,472 | ||||||||||
Cash dividends - Common Stock | (21,477) | (21,477) | ||||||||||
Ending balance at Sep. 30, 2020 | 2,540,799 | 1,652 | 1,520,103 | 980,699 | 38,345 | |||||||
Beginning Balance at Dec. 31, 2020 | 2,605,758 | 1,651 | 1,520,617 | 1,039,370 | 44,120 | |||||||
Comprehensive income: | ||||||||||||
Net income | 91,602 | 91,602 | ||||||||||
Other comprehensive income (loss) | (24,671) | (24,671) | ||||||||||
Net issuance of shares of common stock from exercise of stock options | 2,322 | 1 | 2,321 | |||||||||
Repurchase of shares of common stock | (8,770) | (3) | (8,767) | |||||||||
Share-based compensation net issuance of shares of restricted common stock | 2,117 | 2 | 2,115 | |||||||||
Cash dividends - Common Stock | (23,154) | (23,154) | ||||||||||
Ending balance at Mar. 31, 2021 | 2,645,204 | 1,651 | 1,516,286 | 1,107,818 | 19,449 | |||||||
Beginning Balance at Dec. 31, 2020 | 2,605,758 | 1,651 | 1,520,617 | 1,039,370 | 44,120 | |||||||
Comprehensive income: | ||||||||||||
Net income | 245,664 | |||||||||||
Other comprehensive income (loss) | (18,117) | |||||||||||
Ending balance at Sep. 30, 2021 | 2,736,062 | 1,640 | 1,492,588 | 1,215,831 | 26,003 | |||||||
Beginning Balance at Mar. 31, 2021 | 2,645,204 | 1,651 | 1,516,286 | 1,107,818 | 19,449 | |||||||
Comprehensive income: | ||||||||||||
Net income | 79,070 | 79,070 | ||||||||||
Other comprehensive income (loss) | 9,670 | 9,670 | ||||||||||
Repurchase of shares of common stock | (16,953) | (6) | (16,947) | |||||||||
Share-based compensation net issuance of shares of restricted common stock | 2,276 | 2,276 | ||||||||||
Cash dividends - Common Stock | (23,078) | (23,078) | ||||||||||
Ending balance at Jun. 30, 2021 | 2,696,189 | 1,645 | 1,501,615 | 1,163,810 | 29,119 | |||||||
Comprehensive income: | ||||||||||||
Net income | 74,992 | 74,992 | ||||||||||
Other comprehensive income (loss) | (3,116) | (3,116) | ||||||||||
Repurchase of shares of common stock | (11,279) | (5) | (11,274) | |||||||||
Share-based compensation net issuance of shares of restricted common stock | 2,247 | 2,247 | ||||||||||
Cash dividends - Common Stock | (22,971) | (22,971) | ||||||||||
Ending balance at Sep. 30, 2021 | $ 2,736,062 | $ 1,640 | $ 1,492,588 | $ 1,215,831 | $ 26,003 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | |||||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | |
Statement Of Stockholders Equity [Abstract] | ||||||
Net issuance of shares of common stock from exercise of stock options | 3,628 | 161,434 | 22,864 | |||
Common stock shares repurchased | 476,500 | 635,000 | 330,000 | 1,423,560 | ||
Issuance of restricted common stock | 214,684 | 175,249 | ||||
Number of restricted shares forfeiture | 4,000 | 21,500 | 43,500 | 58,140 | ||
Common stock, cash dividends per share | $ / shares | $ 0.14 | $ 0.14 | $ 0.14 | $ 0.13 | $ 0.13 | $ 0.13 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Operating Activities | ||
Net income | $ 245,664 | $ 132,654 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation & amortization | 14,457 | 15,236 |
(Increase) decrease in value of equity securities | (7,093) | 6,249 |
Amortization of securities, net | 21,018 | 14,292 |
Accretion of purchased loans | (16,150) | (21,640) |
Share-based compensation | 6,640 | 6,435 |
Gain on assets | (2,987) | (1,432) |
Provision for credit losses | 112,264 | |
Provision for credit losses - unfunded commitments | (4,752) | 16,989 |
Deferred income tax effect | 6,936 | (38,695) |
Increase in cash value of life insurance | (1,548) | (1,666) |
Originations of mortgage loans held for sale | (599,787) | (607,494) |
Proceeds from sales of mortgage loans held for sale | 632,721 | 571,623 |
Changes in assets and liabilities: | ||
Accrued interest receivable | 11,951 | (27,283) |
Other assets | 3,891 | 2,552 |
Accrued interest payable and other liabilities | (9,526) | 20,086 |
Net cash provided by operating activities | 301,435 | 200,170 |
Investing Activities | ||
Net decrease (increase) in loans, excluding purchased loans | 1,278,846 | (372,691) |
Purchases of investment securities – available-for-sale | (1,227,507) | (819,629) |
Proceeds from maturities of investment securities – available-for-sale | 487,242 | 556,386 |
Proceeds from sales of investment securities – available-for-sale | 18,112 | |
Purchases of equity securities | (10,460) | (15,015) |
Proceeds from sales of equity securities | 15,354 | |
(Purchase) redemption of other investments | (7,970) | 13,414 |
Proceeds from foreclosed assets held for sale | 6,572 | 7,476 |
Proceeds from sale of SBA loans | 16,722 | 4,057 |
Purchases of premises and equipment, net | (8,065) | (10,282) |
Return of investment on cash value of life insurance | 418 | 47,258 |
Net cash paid – market acquisitions | (421,211) | |
Net cash provided by (used in) investing activities | 569,264 | (1,010,237) |
Financing Activities | ||
Net increase in deposits | 1,277,581 | 1,659,083 |
Net (decrease) increase in securities sold under agreements to repurchase | (27,929) | 14,720 |
Net decrease in federal funds purchased | (5,000) | |
Net decrease in FHLB and other borrowed funds | (218,011) | |
Proceeds from exercise of stock options | 2,322 | 422 |
Repurchase of common stock | (37,002) | (23,857) |
Dividends paid on common stock | (69,203) | (64,554) |
Net cash provided by financing activities | 1,145,769 | 1,362,803 |
Net change in cash and cash equivalents | 2,016,468 | 552,736 |
Cash and cash equivalents – beginning of year | 1,263,788 | 490,601 |
Cash and cash equivalents – end of period | $ 3,280,256 | $ 1,043,337 |
Nature of Operations and Summar
Nature of Operations and Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2021 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Nature of Operations and Summary of Significant Accounting Policies | 1. Nature of Operations and Summary of Significant Accounting Policies Nature of Operations Home BancShares, Inc. (the “Company” or “HBI”) is a bank holding company headquartered in Conway, Arkansas. The Company is primarily engaged in providing a full range of banking services to individual and corporate customers through its wholly-owned community bank subsidiary – Centennial Bank (sometimes referred to as “Centennial” or the “Bank”). The Bank has branch locations in Arkansas, Florida, South Alabama and New York City. The Company is subject to competition from other financial institutions. The Company also is subject to the regulation of certain federal and state agencies and undergoes periodic examinations by those regulatory authorities. A summary of the significant accounting policies of the Company follows: Operating Segments Operating segments are components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Bank is the only significant subsidiary upon which management makes decisions regarding how to allocate resources and assess performance. Each of the branches of the Bank provide a group of similar banking services, including such products and services as commercial, real estate and consumer loans, time deposits, checking and savings accounts. The individual bank branches have similar operating and economic characteristics. While the chief decision maker monitors the revenue streams of the various products, services and branch locations, operations are managed, and financial performance is evaluated on a Company-wide basis. Accordingly, all of the banking services and branch locations are considered by management to be aggregated into one reportable operating segment. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses, the valuation of investment securities, the valuation of foreclosed assets and the valuations of assets acquired, and liabilities assumed in business combinations. In connection with the determination of the allowance for credit losses and the valuation of foreclosed assets, management obtains independent appraisals for significant properties. Principles of Consolidation The consolidated financial statements include the accounts of HBI and its subsidiaries. Significant intercompany accounts and transactions have been eliminated in consolidation. Reclassifications Various items within the accompanying consolidated financial statements for previous years have been reclassified to provide more comparative information. These reclassifications had no effect on net earnings or stockholders’ equity. Interim financial information The accompanying unaudited consolidated financial statements as of September 30, 2021 and 2020 have been prepared in condensed format, and therefore do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. The information furnished in these interim statements reflects all adjustments which are, in the opinion of management, necessary for a fair statement of the results for each respective period presented. Such adjustments are of a normal recurring nature. The results of operations in the interim statements are not necessarily indicative of the results that may be expected for any other quarter or for the full year. The interim financial information should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s 2020 Form 10-K, filed with the Securities and Exchange Commission. New Accounting Pronouncements The Company adopted ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments The Company adopted ASC 326 using the modified retrospective method for loans and off-balance-sheet (“OBS”) credit exposures. Results for reporting periods beginning after January 1, 2020 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. The Company recorded a one-time cumulative-effect adjustment to the allowance for credit losses of $44.0 million which was recognized through a $32.5 million adjustment to retained earnings, net of tax. This adjustment brought the beginning balance of the allowance for credit losses to $146.1 million as of January 1, 2020. In addition, the Company recorded a $15.5 million reserve on unfunded commitments which was recognized through an $11.5 million adjustment to retained earnings, net of tax. The Company adopted ASC 326 using the prospective transition approach for financial assets purchased with credit deterioration (“PCD”) that were previously classified as purchased credit impaired (“PCI”) and accounted for under ASC 310-30. In 2019, the Company reevaluated its loan pools of purchased loans with deteriorated credit quality. These loans pools related specifically to acquired loans from the Heritage, Liberty, Landmark, Bay Cities, Bank of Commerce, Premier Bank, Stonegate and Shore Premier Finance acquisitions. At acquisition, a portion of these loans was recorded as purchased credit impaired loans on a pool by pool basis. Through the reevaluation of these loan pools, management determined that estimated losses for purchase credit impaired loans should be processed against the credit mark of the applicable pools. The remaining non-accretable mark was then moved to accretable mark to be recognized over the remaining weighted average life of the loan pools. The projected losses for these loans were less than the total credit mark. As such, the remaining $107.6 million of loans in these pools along with the $29.3 million in accretable yield was deemed to be immaterial and was reclassified out of the purchased credit impaired loans category. As of December 31, 2019, the Company no longer held any purchased loans with deteriorated credit quality. Therefore, the Company did not have any PCI loans upon adoption on of ASC 326 as of January 1, 2020. The Company has purchased loans, some of which have experienced more than insignificant credit deterioration since origination. PCD loans are recorded at the amount paid. An allowance for credit losses is determined using the same methodology as other loans. The initial allowance for credit losses determined on a collective basis is allocated to individual loans. The sum of the loan’s purchase price and allowance for credit losses becomes its initial amortized cost basis. The difference between the initial amortized cost basis and the par value of the loan is a noncredit discount or premium, which is amortized into interest income over the life of the loan. Subsequent changes to the allowance for credit losses are recorded through the provision for credit loss. The Company adopted ASC 326 using the prospective transition approach for debt securities for which other-than-temporary impairment had been recognized prior to January 1, 2020. As of December 31, 2019, the Company did not have any other-than-temporarily impaired investment securities. Therefore, upon adoption of ASC 326, the Company determined than an allowance for credit losses on available-for-sale securities was not deemed material. However, the Company evaluated the investment portfolio during the first quarter of 2020 and determined that an $842,000 provision for credit losses was necessary. No additional provision was deemed necessary during the remaining quarters of 2020 or the first three quarters of 2021. The following table illustrates the impact of the adoption of ASC 326 on the Company’s 2020 consolidated balance sheet. January 1, 2020 As Reported Under ASC 326 Pre-ASC 326 Adoption Impact of ASC 326 Adoption (In thousands) Assets: Allowance for credit losses on loans $ 146,110 $ 102,122 $ 43,988 Liabilities: Allowance for credit losses on OBS credit exposures (included in other liabilities) 15,521 — 15,521 Revenue Recognition Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers • Service charges on deposit accounts – These represent general service fees for monthly account maintenance and activity or transaction-based fees and consist of transaction-based revenue, time-based revenue (service period), item-based revenue or some other individual attribute-based revenue. Revenue is recognized when our performance obligation is completed which is generally monthly for account maintenance services or when a transaction has been completed (such as a wire transfer). Payment for such performance obligations are generally received at the time the performance obligations are satisfied. • Other service charges and fees – These represent credit card interchange fees and Centennial Commercial Finance Group (“Centennial CFG”) loan fees. The interchange fees are recorded in the period the performance obligation is satisfied which is generally the cash basis based on agreed upon contracts. The Centennial CFG loan fees are based on loan or other negotiated agreements with customers and are accounted for under ASC Topic 310. Earnings per Share Basic earnings per share is computed based on the weighted-average number of shares outstanding during each year. Diluted earnings per share is computed using the weighted-average shares and all potential dilutive shares outstanding during the period. The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the following periods: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (In thousands) Net income $ 74,992 $ 69,320 $ 245,664 $ 132,654 Average shares outstanding 164,126 165,200 164,717 165,458 Effect of common stock options 477 — 333 — Average diluted shares outstanding 164,603 165,200 165,050 165,458 Basic earnings per share $ 0.46 $ 0.42 $ 1.49 $ 0.80 Diluted earnings per share $ 0.46 $ 0.42 $ 1.49 $ 0.80 As of September 30, 2020, options to purchase 3.3 million shares of common stock with a weighted average exercise price of $19.56 were excluded from the computation of diluted earnings per share as the majority of the options had an exercise price which was greater than the average market price of the common stock. |
Business Combinations
Business Combinations | 9 Months Ended |
Sep. 30, 2021 | |
Business Combinations [Abstract] | |
Business Combinations | 2. Business Combinations Acquisition of LH-Finance On February 29, 2020, the Company completed the acquisition of LH-Finance, the marine lending division of People’s United Bank, N.A. The Company paid a purchase price of approximately $421.2 million in cash. LH-Finance provides direct consumer financing for United States Coast Guard (“USCG”) registered high-end sail and power boats. Additionally, LH-Finance provides inventory floor plan lines of credit to marine dealers, primarily those selling USCG documented vessels. Including the purchase accounting adjustments, as of the acquisition date, LH-Finance had approximately $409.1 million in total assets, including $407.4 million in total loans, which resulted in goodwill of $14.6 million being recorded. The acquired portfolio of loans is now housed in the Shore Premier Finance (“SPF”) division. The SPF division of Centennial is responsible for servicing the acquired loan portfolio and originating new loan production. In connection with this acquisition, Centennial opened a loan production office in Baltimore, Maryland. Future Acquisition of Happy Bancshares, Inc. On September 15, 2021, the Company and Centennial entered into an Agreement and Plan of Merger (the “Agreement”) with Happy Bancshares, Inc., a Texas corporation (“Happy”), and its wholly-owned bank subsidiary, Happy State Bank, a Texas banking association (“HSB”), under which the Company and Centennial will acquire Happy and HSB. The Agreement, as amended on October 18, 2021, provides that, in a series of transactions, an acquisition subsidiary of the Company will merge into Happy and Happy will merge into the Company, with the Company as the surviving entity (collectively, the “Merger”). As soon as reasonably practicable following the Merger, HSB will merge into Centennial, with Centennial as the surviving entity. Under the terms of the Agreement, as amended, the Company will issue approximately 42.3 million shares of its common stock to the shareholders of Happy upon the completion of the Merger, for a purchase price of approximately $1.02 billion, valued based on the volume-weighted average closing price per share of the Company’s common stock as reported on the Nasdaq Global Select Market (“Nasdaq”) for the 20 consecutive trading day period ending on November 1, 2021. No cash consideration will be paid in connection with the Merger, except that holders of outstanding shares of Happy common stock at the time of the Merger will receive cash payments in lieu of any fractional shares of Company common stock to which they are otherwise entitled in connection with the Merger. In addition, the Company expects to pay an aggregate of up to approximately $11.0 million in cash in cancellation of certain stock appreciation rights issued by Happy that remain outstanding at the time of the Merger. Subject to the terms and conditions set forth in the Agreement, as amended, at the effective time of the Merger (the “Effective Time”), each outstanding share of common stock of Happy will be converted into the right to receive, without interest, 2.17 shares of the Company’s common stock (the “Merger Consideration”). Each unvested restricted share of Happy common stock outstanding at the Effective Time will fully vest and be converted into the right to receive the Merger Consideration. In addition, at the Effective Time, each outstanding option to purchase Happy common stock will be cancelled and converted into the right to receive the number of whole shares of the Company’s common stock, together with any cash in lieu of fractional shares, equal to the product of (i) the number of shares of Happy common stock subject to the option, multiplied by (ii) the excess, if any, of the Merger Consideration value over the exercise price of the option, less applicable tax withholdings, divided by (iii) the Company’s Average Closing Price (defined below). Similarly, each stock appreciation right of Happy outstanding at the Effective Time will be cancelled and converted into the right to receive a cash payment, without interest, equal to the product of (i) the number of shares of Happy common stock subject to the stock appreciation right, multiplied by (ii) the excess, if any, of the Merger Consideration value over the grant price of the stock appreciation right, less applicable tax withholdings. For purposes of these calculations, the Merger Consideration value will be determined using a volume-weighted average closing price of the Company’s common stock as reported on Nasdaq over the 20 consecutive trading day period ending on the third business day prior to the closing of the Merger (“the Company’s Average Closing Price”), multiplied by 2.17. The Merger is expected to close during the first quarter of 2022, and is subject to the approval of the shareholders of the Company and Happy, regulatory approvals, and other conditions set forth in the Agreement. |
Investment Securities
Investment Securities | 9 Months Ended |
Sep. 30, 2021 | |
Investments Debt And Equity Securities [Abstract] | |
Investment Securities | 3. Investment Securities The following table summarizes the amortized cost and fair value of securities available-for-sale and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss): September 30, 2021 Available-for-Sale Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Estimated Fair Value (In thousands) U.S. government-sponsored enterprises $ 439,181 $ 2,702 $ (1,720 ) $ 440,163 Residential mortgage-backed securities 1,198,016 6,812 (9,064 ) 1,195,764 Commercial mortgage-backed securities 403,840 10,656 (922 ) 413,574 State and political subdivisions 965,993 27,356 (2,205 ) 991,144 Other securities 109,216 1,137 (390 ) 109,963 Total $ 3,116,246 $ 48,663 $ (14,301 ) $ 3,150,608 December 31, 2020 Available-for-Sale Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Estimated Fair Value (In thousands) U.S. government-sponsored enterprises $ 325,860 $ 2,338 $ (1,207 ) $ 326,991 Residential mortgage-backed securities 703,138 10,607 (688 ) 713,057 Commercial mortgage-backed securities 446,964 18,048 (126 ) 464,886 State and political subdivisions 898,174 31,173 (1,454 ) 927,893 Other securities 40,755 434 (235 ) 40,954 Total $ 2,414,891 $ 62,600 $ (3,710 ) $ 2,473,781 Assets, principally investment securities, having a carrying value of approximately $1.17 billion and $1.08 billion at September 30, 2021 and December 31, 2020, respectively, were pledged to secure public deposits, as collateral for repurchase agreements, and for other purposes required or permitted by law. Investment securities pledged as collateral for repurchase agreements totaled approximately $141.0 million and $168.9 million at September 30, 2021 and December 31, 2020, respectively. The amortized cost and estimated fair value of securities classified as available-for-sale at September 30, 2021, by contractual maturity, are shown below. Expected maturities could differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately. Available-for-Sale Amortized Cost Estimated Fair Value (In thousands) Due in one year or less $ 9,391 $ 9,399 Due after one year through five years 78,839 79,824 Due after five years through ten years 348,801 350,567 Due after ten years 1,075,359 1,099,480 Mortgage - backed securities: Residential 1,198,016 1,195,764 Mortgage - backed securities: Commercial 403,840 413,574 Other 2,000 2,000 Total $ 3,116,246 $ 3,150,608 During the three months ended September 30, 2021, no available-for-sale securities were sold. There were no realized gains or losses recorded on sales for the three months ended September 30, 2021. During the nine months ended September 30, 2021, $17.9 million in available-for-sale securities were sold. The gross realized gains on the sales totaled $219,000 for the nine months ended September 30, 2021. During the three and nine months ended September 30, 2020, no available-for-sale securities were sold. There were no realized gains or losses recorded on the sales for the three and nine months ended September 30, 2020. The following table shows gross unrealized losses and estimated fair value of investment securities classified as available-for-sale, aggregated by investment category and length of time that individual investment securities have been in a continuous loss position as of September 30, 2021 and December 31, 2020. September 30, 2021 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) U.S. government-sponsored enterprises $ 80,986 $ (1,015 ) $ 56,150 $ (705 ) $ 137,136 $ (1,720 ) Residential mortgage-backed securities 762,805 (8,216 ) 31,319 (848 ) 794,124 (9,064 ) Commercial mortgage-backed securities 81,615 (906 ) 6,245 (16 ) 87,860 (922 ) State and political subdivisions 149,056 (980 ) 16,887 (1,225 ) 165,943 (2,205 ) Other securities 41,421 (340 ) 4,263 (50 ) 45,684 (390 ) Total $ 1,115,883 $ (11,457 ) $ 114,864 $ (2,844 ) $ 1,230,747 $ (14,301 ) December 31, 2020 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) U.S. government-sponsored enterprises $ 54,611 $ (383 ) $ 95,249 $ (824 ) $ 149,860 $ (1,207 ) Residential mortgage-backed securities 143,458 (643 ) 4,900 (45 ) 148,358 (688 ) Commercial mortgage-backed securities 26,886 (126 ) — — 26,886 (126 ) State and political subdivisions 78,349 (1,454 ) — — 78,349 (1,454 ) Other securities 5,434 (100 ) 8,748 (135 ) 14,182 (235 ) Total $ 308,738 $ (2,706 ) $ 108,897 $ (1,004 ) $ 417,635 $ (3,710 ) The Company evaluates all securities quarterly to determine if any debt securities in a loss position require a provision for credit losses in accordance with ASC 326, Measurement of Credit Losses on Financial Instruments September 30, 2021 December 31, 2020 (In thousands) Allowance for credit losses: Beginning balance $ 842 $ — Provision for credit loss - investment securities — 842 Balance, September 30 $ 842 $ 842 Provision for credit loss - investment securities — Balance, December 31, 2020 $ 842 For the nine months ended September 30, 2021, the Company had investment securities with approximately $2.8 million in unrealized losses, which have been in continuous loss positions for more than twelve months. The Company’s assessments indicated that the cause of the market depreciation was primarily due to the change in interest rates and not the issuer’s financial condition or downgrades by rating agencies. In addition, approximately 58.6% of the principal balance from the Company’s investment portfolio will mature and be repaid to the Company within five years or less. As a result, the Company has the ability and intent to hold such securities until maturity. As of September 30, 2021, the Company's securities portfolio consisted of 1,335 investment securities, 304 of which were in an unrealized loss position. As noted in the table above, the total amount of the unrealized loss was $14.3 million. The U.S government-sponsored enterprises portfolio contained unrealized losses of $1.7 million on 44 securities. The residential mortgage-backed securities portfolio contained $9.1 million of unrealized losses on 161 securities, and the commercial mortgage-backed securities portfolio contained $922,000 of unrealized losses on 35 securities. The state and political subdivisions portfolio contained $2.2 million of unrealized losses on 51 securities. In addition, the other securities portfolio contained $390,000 of unrealized losses on 13 securities. The unrealized losses on the Company's investments were a result of interest rate changes. The Company expects to recover the amortized cost basis over the term of the securities. As of September 30, 2021, the Company does not consider an allowance for credit losses on the other portions of the investment portfolio because the decline in market value was attributable to changes in interest rates and not credit quality, the Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost basis, which may be maturity. Income earned on available-for sale securities for the three and nine months ended September 30, 2021 and 2020, is as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2021 2020 2021 2020 (In thousands) Taxable $ 8,495 $ 7,227 $ 21,933 $ 25,696 Non-taxable 4,839 4,367 14,815 11,179 Total $ 13,334 $ 11,594 $ 36,748 $ 36,875 |
Loans Receivable
Loans Receivable | 9 Months Ended |
Sep. 30, 2021 | |
Receivables [Abstract] | |
Loans Receivable | 4. Loans Receivable The various categories of loans receivable are summarized as follows: September 30, December 31, 2021 2020 (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 4,005,841 $ 4,429,060 Construction/land development 1,742,687 1,562,298 Agricultural 138,881 114,431 Residential real estate loans Residential 1-4 family 1,273,988 1,536,257 Multifamily residential 274,131 536,538 Total real estate 7,435,528 8,178,584 Consumer 814,732 864,690 Commercial and industrial 1,414,079 1,896,442 Agricultural 68,272 66,869 Other 168,489 214,136 Total loans receivable 9,901,100 11,220,721 Allowance for credit losses (238,673 ) (245,473 ) Loans receivable, net $ 9,662,427 $ 10,975,248 During the three and nine months ended September 30, 2021, the Company sold $3.9 million and $15.0 million of the guaranteed portions of certain SBA loans, which resulted in a gain of approximately $440,000 and $1.6 million. During the three months ended September 30, 2020, the Company did not sell any guaranteed portions of certain SBA loans. During the nine months ended September 30, 2020, the Company sold $3.7 million of the guaranteed portions of certain SBA loans, which resulted in a gain of approximately $341,000. Mortgage loans held for sale of approximately $81.9 million and $114.8 million at September 30, 2021 and December 31, 2020, respectively, are included in residential 1-4 family loans. Mortgage loans held for sale are carried at the lower of cost or fair value, determined using an aggregate basis. Gains and losses resulting from sales of mortgage loans are recognized when the respective loans are sold to investors. Gains and losses are determined by the difference between the selling price and the carrying amount of the loans sold, net of discounts collected or paid. The Company obtains forward commitments to sell mortgage loans to reduce market risk on mortgage loans in the process of origination and mortgage loans held for sale. The forward commitments acquired by the Company for mortgage loans in process of origination are considered mandatory forward commitments. Because these commitments are structured on a mandatory basis, the Company is required to substitute another loan or to buy back the commitment if the original loan does not fund. These commitments are derivative instruments and their fair values at September 30, 2021 and December 31, 2020 were not material. The Company adopted ASC 326 using the prospective transition approach for financial assets purchased with credit deterioration (“PCD”) that were previously classified as purchased credit impaired (“PCI”) and accounted for under ASC 310-30. In 2019, the Company reevaluated its loan pools of purchased loans with deteriorated credit quality. These loans pools related specifically to acquired loans from the Heritage, Liberty, Landmark, Bay Cities, Bank of Commerce, Premier Bank, Stonegate and Shore Premier Finance acquisitions. At acquisition, a portion of these loans was recorded as purchased credit impaired loans on a pool by pool basis. Through the reevaluation of these loan pools, management determined that estimated losses for purchase credit impaired loans should be processed against the credit mark of the applicable pools. The remaining non-accretable mark was then moved to accretable mark to be recognized over the remaining weighted average life of the loan pools. The projected losses for these loans were less than the total credit mark. As such, the remaining $107.6 million of loans in these pools along with the $29.3 million in accretable yield was deemed to be immaterial and was reclassified out of the purchased credit impaired loans category. The Company has purchased loans, some of which have experienced more than insignificant credit deterioration since origination. PCD loans are recorded at the amount paid. An allowance for credit losses is determined using the same methodology as other loans. The initial allowance for credit losses determined on a collective basis is allocated to individual loans. The sum of the loan’s purchase price and allowance for credit losses becomes its initial amortized cost basis. The difference between the initial amortized cost basis and the par value of the loan is a noncredit discount or premium, which is amortized into interest income over the life of the loan. Subsequent changes to the allowance for credit losses are recorded through the provision for credit losses. As a result of the acquisition of LH-Finance in 2020, the Company held approximately $454,000 and $760,000 in PCD loans, as of September 30, 2021 and December 31, 2020, respectively. A description of our accounting policies for loans, impaired loans and non-accrual loans are set forth in our 2020 Form 10-K filed with the SEC on February 26, 2021. The Company adopted ASC 326 effective January 1, 2020. See Notes 1 and 5 for further discussion. |
Allowance for Credit Losses, Cr
Allowance for Credit Losses, Credit Quality and Other | 9 Months Ended |
Sep. 30, 2021 | |
Text Block [Abstract] | |
Allowance for Credit Losses, Credit Quality and Other | 5. Allowance for Credit Losses, Credit Quality and Other The Company adopted ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments The Company uses the discounted cash flow (“DCF”) method to estimate expected losses for all of Company’s loan pools. These pools are as follows: construction & land development; other commercial real estate; residential real estate; commercial & industrial; and consumer & other. The loan portfolio pools were selected in order to generally align with the loan categories specified in the quarterly call reports required to be filed with the Federal Financial Institutions Examination Council. For each of these loan pools, the Company generates cash flow projections at the instrument level wherein payment expectations are adjusted for estimated prepayment speed, curtailments, time to recovery, probability of default, and loss given default. The modeling of expected prepayment speeds, curtailment rates, and time to recovery are based on historical internal data. The Company uses regression analysis of historical internal and peer data to determine suitable loss drivers to utilize when modeling lifetime probability of default and loss given default. This analysis also determines how expected probability of default and loss given default will react to forecasted levels of the loss drivers. Each year management evaluates the performance of the selected models used in the CECL calculation through backtesting. Based on the results of the testing, management determines if the various models produced accurate results compared to the actual losses incurred for the current economic environment. Management then determines if changes to the input assumptions and economic factors would produce a stronger overall calculation that is more responsive to changes in economic conditions. The Company continues to use regression analysis to determine suitable loss drivers to utilize when modeling lifetime probability of default and loss given default for the changes in the economic factors for the loss driver segments. Based on this analysis during the first quarter of 2021, management determined that changes to several of the economic factors for the various loss driver segments were necessary. The identified loss drivers by segment are included below as of September 30, 2021 and December 31, 2020, respectively. September 30, 2021 Loss Driver Segment Call Report Segment(s) Modeled Economic Factors 1-4 Family Construction 1a1 National Unemployment (%) & Housing Price Index (%) All Other Construction 1a2 National Unemployment (%) & Gross Domestic Product (%) 1-4 Family Revolving HELOC & Junior Liens 1c1 National Unemployment (%) & Housing Price Index – CoreLogic (%) 1-4 Family Revolving HELOC & Junior Liens 1c2b National Unemployment (%) & Gross Domestic Product (%) 1-4 Family Senior Liens 1c2a National Unemployment (%) & Gross Domestic Product (%) Multifamily 1d Rental Vacancy Rate (%) & Housing Price Index – Case-Schiller (%) Owner Occupied CRE 1e1 National Unemployment (%) & Gross Domestic Product (%) Non-Owner Occupied CRE 1e2,1b,8 National Unemployment (%) & Gross Domestic Product (%) Commercial & Industrial, Agricultural, Non-Depository Financial Institutions, Purchase/Carry Securities, Other 4a, 3, 9a, 9b1, 9b2, Other National Unemployment (%) & National Retail Sales (%) Consumer Auto 6c National Unemployment (%) & National Retail Sales (%) Other Consumer 6b, 6d National Unemployment (%) & National Retail Sales (%) Other Consumer - SPF 6d National Unemployment (%) December 31, 2020 Loss Driver Segment Call Report Segment(s) Modeled Economic Factors 1-4 Family Construction 1a1 National Unemployment (%) & Housing Price Index (%) All Other Construction 1a2 National Unemployment (%) & Commercial Real Estate Price Index (%) 1-4 Family Revolving HELOC & Junior Liens 1c1, 1c2b National Unemployment (%) & Housing Price Index (%) 1-4 Family Senior Liens 1c2a National Unemployment (%) & Housing Price Index (%) Multifamily 1d National Unemployment (%) & Housing Price Index (%) Owner Occupied CRE 1e1 National Unemployment (%) & Commercial Real Estate Price Index (%) Non-Owner Occupied CRE 1e2,1b,8 National Unemployment (%) & Commercial Real Estate Price Index (%) Commercial & Industrial, Agricultural, Non-Depository Financial Institutions, Purchase/Carry Securities, Other 4a, 3, 9a, 9b1, 9b2, Other National Unemployment (%) & National Retail Sales (%) Consumer Auto 6c National Unemployment (%) & National Retail Sales (%) Other Consumer 6b, 6d National Unemployment (%) & National Retail Sales (%) Other Consumer - SPF 6d National Unemployment (%) For all DCF models, management has determined that four quarters represents a reasonable and supportable forecast period and reverts to a historical loss rate over four quarters on a straight-line basis. Management leverages economic projections from a reputable and independent third party to inform its loss driver forecasts over the four-quarter forecast period. Other internal and external indicators of economic forecasts are also considered by management when developing the forecast metrics. The combination of adjustments for credit expectations (default and loss) and time expectations prepayment, curtailment, and time to recovery produces an expected cash flow stream at the instrument level. Instrument effective yield is calculated, net of the impacts of prepayment assumptions, and the instrument expected cash flows are then discounted at that effective yield to produce an instrument-level net present value of expected cash flows (“NPV”). An allowance for credit loss is established for the difference between the instrument’s NPV and amortized cost basis. Construction/Land Development and Other We originate non-farm and non-residential loans (primarily secured by commercial real estate), construction/land development loans, and agricultural loans, which are generally secured by real estate located in our market areas. Our commercial mortgage loans are generally collateralized by first liens on real estate and amortized (where defined) over a 15 to 30 year period with balloon payments due at the end of one to five years. These loans are generally underwritten by assessing cash flow (debt service coverage), primary and secondary source of repayment, the financial strength of any guarantor, the strength of the tenant (if any), the borrower’s liquidity and leverage, management experience, ownership structure, economic conditions and industry specific trends and collateral. Generally, we will loan up to 85% of the value of improved property, 65% of the value of raw land and 75% of the value of land to be acquired and developed. A first lien on the property and assignment of lease is required if the collateral is rental property, with second lien positions considered on a case-by-case basis. Residential Real Estate Loans. We originate one to four family, residential mortgage loans generally secured by property located in our primary market areas. Residential real estate loans generally have a loan-to-value ratio of up to 90%. These loans are underwritten by giving consideration to many factors including the borrower’s ability to pay, stability of employment or source of income, debt-to-income ratio, credit history and loan-to-value ratio. Commercial and Industrial Loans. Commercial and industrial loans are made for a variety of business purposes, including working capital, inventory, equipment and capital expansion. The terms for commercial loans are generally one to seven years. Commercial loan applications must be supported by current financial information on the borrower and, where appropriate, by adequate collateral. Commercial loans are generally underwritten by addressing cash flow (debt service coverage), primary and secondary sources of repayment, the financial strength of any guarantor, the borrower’s liquidity and leverage, management experience, ownership structure, economic conditions and industry specific trends and collateral. The loan to value ratio depends on the type of collateral. Generally, accounts receivable are financed at between 50% and 80% of accounts receivable less than 60 days past due. Inventory financing will range between 50% and 80% (with no work in process) depending on the borrower and nature of inventory. We require a first lien position for those loans. Consumer & Other Loans. Our consumer & other loans are primarily composed of loans to finance USCG registered high-end sail and power boats as a result of our acquisitions of SPF on June 30, 2018 and LH-Finance on February 29, 2020. The performance of consumer & other loans will be affected by the local and regional economies as well as the rates of personal bankruptcies, job loss, divorce and other individual-specific characteristics. Off-Balance Sheet Credit Exposures. The Company estimates expected credit losses over the contractual period in which the Company is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Company. The allowance for credit loss on off-balance sheet credit exposures is adjusted as a provision for credit loss expense. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life. The Company uses the DCF method to estimate expected losses for all of Company’s off-balance sheet credit exposures through the use of the existing DCF models for the Company’s loan portfolio pools. The off-balance sheet credit exposures exhibit similar risk characteristics as loans currently in the Company’s loan portfolio. As of September 30, 2021, the Company remains optimistic that the markets in which it operates will experience continued economic recovery as long as unemployment rates continue to decline, more COVID-19 vaccinations are administered, and communities continue to reopen for business activity . Uncertainty remains about the duration of the pandemic as well as the timing and extent of the economic recovery. . ASC 326 requires that both a discount and an allowance for credit losses be recorded on loans during an acquisition. During the first quarter of 2020, we completed the acquisition of $406.2 million of loans from LH-Finance. As a result, the Company recorded a $6.6 million loan discount and a $9.3 million increase in the allowance for credit losses for this acquisition. A small portion of the loans acquired during the quarter were purchase credit deteriorated (“PCD”) loans, so the Company recorded a $357,000 allowance for credit losses on these loans. The following tables present the activity in the allowance for credit losses for the three and nine months ended September 30, 2021: Three Months Ended September 30, 2021 Construction/ Land Development Other Commercial Real Estate Residential Real Estate Commercial & Industrial Consumer & Other Total (In thousands) Allowance for credit losses: Beginning balance $ 22,145 $ 93,127 $ 51,182 $ 52,282 $ 21,715 $ 240,451 Loans charged off — (9 ) (220 ) (1,682 ) (558 ) (2,469 ) Recoveries of loans previously charged off 8 44 388 80 171 691 Net loans recovered (charged off) 8 35 168 (1,602 ) (387 ) (1,778 ) Provision for credit losses 3,830 (4,664 ) (447 ) 1,922 (641 ) — Balance, September 30 $ 25,983 $ 88,498 $ 50,903 $ 52,602 $ 20,687 $ 238,673 Nine Months Ended September 30, 2021 Construction/ Land Development Other Commercial Real Estate Residential Real Estate Commercial & Industrial Consumer & Other Total (In thousands) Allowance for credit losses: Beginning balance $ 32,861 $ 88,453 $ 53,216 $ 46,530 $ 24,413 $ 245,473 Loans charged off — (646 ) (543 ) (5,892 ) (1,458 ) (8,539 ) Recoveries of loans previously charged off 47 112 554 382 644 1,739 Net loans recovered (charged off) 47 (534 ) 11 (5,510 ) (814 ) (6,800 ) Provision for credit losses (6,925 ) 579 (2,324 ) 11,582 (2,912 ) — Balance, September 30 $ 25,983 $ 88,498 $ 50,903 $ 52,602 $ 20,687 $ 238,673 The following tables present the balances in the allowance for credit losses for the nine-month period ended September 30, 2020 and the year ended December 31, 2020. Nine Months Ended September 30, 2020 and Year Ended December 31, 2020 Construction/ Land Development Other Commercial Real Estate Residential Real Estate Commercial & Industrial Consumer & Other Total (In thousands) Allowance for credit losses: Beginning balance $ 26,433 $ 33,529 $ 20,135 $ 16,615 $ 5,410 $ 102,122 Impact of adoption ASC 326 (5,296 ) 15,912 16,680 11,584 5,108 43,988 Allowance for credit losses on PCD loans — — — — 357 357 Loans charged off (443 ) (3,003 ) (450 ) (6,207 ) (1,343 ) (11,446 ) Recoveries of loans previously charged off 94 614 305 142 626 1,781 Net loans charged off (349 ) (2,389 ) (145 ) (6,065 ) (717 ) (9,665 ) Provision for credit loss - loans 18,027 50,912 8,550 18,023 6,601 102,113 Provision for credit loss - acquired loans — — — — 9,309 9,309 Balance, September 30 38,815 97,964 45,220 40,157 26,068 248,224 Loans charged off (775 ) (38 ) (35 ) (1,557 ) (635 ) (3,040 ) Recoveries of loans previously charged off 13 33 32 76 135 289 Net loans charged off (762 ) (5 ) (3 ) (1,481 ) (500 ) (2,751 ) Provision for credit loss - loans (5,192 ) (9,506 ) 7,999 7,854 (1,155 ) — Balance, December 31 $ 32,861 $ 88,453 $ 53,216 $ 46,530 $ 24,413 $ 245,473 The following table presents the amortized cost basis of loans on nonaccrual status and loans past due over 90 days still accruing as of September 30, 2021 and December 31, 2020: September 30, 2021 Nonaccrual Nonaccrual with Reserve Loans Past Due Over 90 Days Still Accruing (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 8,819 $ 2,244 $ 2,413 Construction/land development 1,870 — — Agricultural 743 — — Residential real estate loans Residential 1-4 family 17,495 2,984 855 Multifamily residential 161 — — Total real estate 29,088 5,228 3,268 Consumer 1,921 — 2 Commercial and industrial 15,989 4,272 41 Agricultural & other 606 — — Total $ 47,604 $ 9,500 $ 3,311 December 31, 2020 Nonaccrual Nonaccrual with Reserve Loans Past Due Over 90 Days Still Accruing (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 20,947 $ 6,794 $ 6,088 Construction/land development 1,381 2,089 1,296 Agricultural 879 — — Residential real estate loans Residential 1-4 family 19,334 3,000 1,821 Multifamily residential 173 — — Total real estate 42,714 11,883 9,205 Consumer 3,506 — 174 Commercial and industrial 17,251 — 231 Agricultural & other 1,057 — — Total $ 64,528 $ 11,883 $ 9,610 The Company had $47.6 million and $64.5 million in nonaccrual loans for the periods ended September 30, 2021 and December 31, 2020, respectively. In addition, the Company had $3.3 million and $9.6 million in loans past due 90 days or more and still accruing for the periods ended September 30, 2021 and December 31, 2020, respectively. The Company had $9.5 million and $11.9 million in nonaccrual loans with a specific reserve as of September 30, 2021 and December 31, 2020, respectively. The Company did not recognize any interest income on nonaccrual loans during the period ended September 30, 2021 or September 30, 2020. The following table presents the amortized cost basis of collateral-dependent impaired loans by class of loans as of September 30, 2021 and December 31, 2020: September 30, 2021 Commercial Residential Real Estate Real Estate Other (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 249,783 $ — $ — Construction/land development 5,201 — — Agricultural 743 — — Residential real estate loans Residential 1-4 family — 21,393 — Multifamily residential — 161 — Total real estate 255,727 21,554 — Consumer — — 1,936 Commercial and industrial — — 20,264 Agricultural & other — — 607 Total $ 255,727 $ 21,554 $ 22,807 December 31, 2020 Commercial Residential Real Estate Real Estate Other (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 47,429 $ — $ — Construction/land development 6,012 — — Agricultural 879 — — Residential real estate loans Residential 1-4 family — 32,413 — Multifamily residential — 173 — Total real estate 54,320 32,586 — Consumer — — 3,694 Commercial and industrial — — 21,027 Agricultural & other — — 1,057 Total $ 54,320 $ 32,586 $ 25,778 The Company had $300.1 million and $112.7 million in collateral-dependent impaired loans for the periods ended September 30, 2021 and December 31, 2020, respectively. The increase in collateral-dependent impaired loans was due to the Company changing the valuation method for lodging and assisted living loans to a market price valuation methodology. This involved assigning a 15% discount of par for these impaired loans. The 15% figure was derived based on knowledge of current hotel and assisted living offerings in the loan sale market. In the event of default, liquidation would be achieved through a loan sale. The Company is continuing to monitor these impaired loans and will adjust the discount as necessary. Loans that do not share risk characteristics are evaluated on an individual basis. For collateral-dependent impaired loans, excluding lodging and assisted living loans, where the Company has determined that foreclosure of the collateral is probable, or where the borrower is experiencing financial difficulty and the Company expects repayment of the financial asset to be provided substantially through the operation or sale of the collateral, the allowance for credit losses is measured based on the difference between the fair value of the collateral and the amortized cost basis of the loan as of the measurement date. When repayment is expected to be from the operation of the collateral, expected credit losses are calculated as the amount by which the amortized cost basis of the loan exceeds the present value of expected cash flows from the operation of the collateral. When repayment is expected to be from the sale of the collateral, expected credit losses are calculated as the amount by which the amortized cost basis of the loan exceeds the fair value of the underlying collateral less estimated costs to sell. The allowance for credit losses may be zero if the fair value of the collateral at the measurement date exceeds the amortized cost basis of the loan. The following is an aging analysis for loans receivable as of September 30, 2021 and December 31, 2020: September 30, 2021 Loans Past Due 30-59 Days Loans Past Due 60-89 Days Loans Past Due 90 Days or More Total Past Due Current Loans Total Loans Receivable Accruing Loans Past Due 90 Days or More (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 2,213 $ — $ 11,232 $ 13,445 $ 3,992,396 $ 4,005,841 $ 2,413 Construction/land development 66 171 1,870 2,107 1,740,580 1,742,687 — Agricultural 434 295 743 1,472 137,409 138,881 — Residential real estate loans — Residential 1-4 family 2,452 3,072 18,350 23,874 1,250,114 1,273,988 855 Multifamily residential — — 161 161 273,970 274,131 — Total real estate 5,165 3,538 32,356 41,059 7,394,469 7,435,528 3,268 Consumer 401 12 1,923 2,336 812,396 814,732 2 Commercial and industrial 752 592 16,030 17,374 1,396,705 1,414,079 41 Agricultural & other 619 1 606 1,226 235,535 236,761 — Total $ 6,937 $ 4,143 $ 50,915 $ 61,995 $ 9,839,105 $ 9,901,100 $ 3,311 December 31, 2020 Loans Past Due 30-59 Days Loans Past Due 60-89 Days Loans Past Due 90 Days or More Total Past Due Current Loans Total Loans Receivable Accruing Loans Past Due 90 Days or More (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 3,856 $ 68 $ 27,035 $ 30,959 $ 4,398,101 $ 4,429,060 $ 6,088 Construction/land development 178 44 2,677 $ 2,899 1,559,399 1,562,298 1,296 Agricultural 522 — 879 1,401 113,030 114,431 — Residential real estate loans Residential 1-4 family 4,833 7,787 21,155 33,775 1,502,482 1,536,257 1,821 Multifamily residential 111 — 173 284 536,254 536,538 — Total real estate 9,500 7,899 51,919 69,318 8,109,266 8,178,584 9,205 Consumer 2,899 802 3,680 7,381 857,309 864,690 174 Commercial and industrial 960 515 17,482 18,957 1,877,485 1,896,442 231 Agricultural and other 1,125 3,713 1,057 5,895 275,110 281,005 — Total $ 14,484 $ 12,929 $ 74,138 $ 101,551 $ 11,119,170 $ 11,220,721 $ 9,610 Non-accruing loans at September 30, 2021 and December 31, 2020 were $47.6 million and $64.5 million, respectively. Interest recognized on impaired loans, including those loans with a specific reserve, during the three and nine months ended September 30, 2021 was approximately $3.3 million and $9.8 million, respectively. Interest recognized on impaired loans during the three and nine months ended September 30, 2020 was approximately $694,000 and $2.1 million, respectively. The amount of interest recognized on impaired loans on the cash basis is not materially different than the accrual basis. Credit Quality Indicators. As part of the on-going monitoring of the credit quality of the Company’s loan portfolio, management tracks certain credit quality indicators including trends related to (i) the risk rating of loans, (ii) the level of classified loans, (iii) net charge-offs, (iv) non-performing loans and (v) the general economic conditions in Arkansas, Florida, Alabama and New York. The Company utilizes a risk rating matrix to assign a risk rating to each of its loans. Loans are rated on a scale from 1 to 8. Descriptions of the general characteristics of the 8 risk ratings are as follows: • Risk rating 1 – Excellent. Loans in this category are to persons or entities of unquestionable financial strength, a highly liquid financial position, with collateral that is liquid and well margined. These borrowers have performed without question on past obligations, and the Bank expects their performance to continue. Internally generated cash flow covers current maturities of long-term debt by a substantial margin. Loans secured by bank certificates of deposit and savings accounts, with appropriate holds placed on the accounts, are to be rated in this category. • Risk rating 2 – Good. These are loans to persons or entities with strong financial condition and above-average liquidity that have previously satisfactorily handled their obligations with the Bank. Collateral securing the Bank’s debt is margined in accordance with policy guidelines. Internally generated cash flow covers current maturities of long-term debt more than adequately. Unsecured loans to individuals supported by strong financial statements and on which repayment is satisfactory may be included in this classification. • Risk rating 3 – Satisfactory. Loans to persons or entities with an average financial condition, adequate collateral margins, adequate cash flow to service long-term debt, and net worth comprised mainly of fixed assets are included in this category. These entities are minimally profitable now, with projections indicating continued profitability into the foreseeable future. Closely held corporations or businesses where a majority of the profits are withdrawn by the owners or paid in dividends are included in this rating category. Overall, these loans are basically sound. • Risk rating 4 – Watch. Borrowers who have marginal cash flow, marginal profitability or have experienced an unprofitable year and a declining financial condition characterize these loans. The borrower has in the past satisfactorily handled debts with the Bank, but in recent months has either been late, delinquent in making payments, or made sporadic payments. While the Bank continues to be adequately secured, margins have decreased or are decreasing, despite the borrower’s continued satisfactory condition. Other characteristics of borrowers in this class include inadequate credit information, weakness of financial statement and repayment capacity, but with collateral that appears to limit exposure. • Risk rating 5 – Other Loans Especially Mentioned (“OLEM”) . A loan criticized as OLEM has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the institution’s credit position at some future date. OLEM assets are not adversely classified and do not expose the institution to sufficient risk to warrant adverse classification. • Risk rating 6 – Substandard. A loan classified as substandard is inadequately protected by the sound worth and paying capacity of the borrower or the collateral pledged. Loss potential, while existing in the aggregate amount of substandard loans, does not have to exist in individual assets. • Risk rating 7 – Doubtful. A loan classified as doubtful has all the weaknesses inherent in a loan classified as substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. These are poor quality loans in which neither the collateral, if any, nor the financial condition of the borrower presently ensure collectability in full in a reasonable period of time; in fact, there is permanent impairment in the collateral securing the loan. • Risk rating 8 – Loss. Assets classified as loss are considered uncollectible and of such little value that the continuance as bankable assets is not warranted. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather, it is not practical or desirable to defer writing off this basically worthless asset, even though partial recovery may occur in the future. This classification is based upon current facts, not probabilities. Assets classified as loss should be charged-off in the period in which they became uncollectible. The Company’s classified loans include loans in risk ratings 6, 7 and 8. Loans may be classified, but not considered impaired, due to one of the following reasons: (1) The Company has established minimum dollar amount thresholds for loan impairment testing. All loans over $2.0 million that are rated 5 – 8 are individually assessed for impairment on a quarterly basis. Loans rated 5 – 8 that fall under the threshold amount are not individually tested for impairment and therefore are not included in impaired loans; (2) of the loans that are above the threshold amount and tested for impairment, after testing, some are considered to not be impaired and are not included in impaired loans. Based on the most recent analysis performed, the risk category of loans by class of loans as of September 30, 2021 and December 31, 2020 is as follows: September 30, 2021 Term Loans Amortized Cost Basis by Origination Year 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential Risk rating 1 $ — $ — $ — $ — $ — $ — $ — $ — Risk rating 2 — — — — — — 209,027 209,027 Risk rating 3 182,402 280,163 314,000 396,848 247,852 981,970 68,510 2,471,745 Risk rating 4 106,983 35,274 120,584 257,933 112,120 358,937 87 991,918 Risk rating 5 — 10,825 2,308 20,791 37,848 197,539 — 269,311 Risk rating 6 — — 15,219 1,803 11,939 34,797 — 63,758 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — 82 — 82 Total non-farm/non-residential 289,385 326,262 452,111 677,375 409,759 1,573,325 277,624 4,005,841 Construction/land development Risk rating 1 $ — $ — $ — $ — $ — $ — $ — $ — Risk rating 2 — — — — — 235 — 235 Risk rating 3 150,620 228,246 100,935 33,933 23,005 42,863 166,151 745,753 Risk rating 4 117,314 215,084 501,761 45,824 40,377 39,461 23,650 983,471 Risk rating 5 — — 416 — — 1,177 1 1,594 Risk rating 6 — 115 874 8 — 10,636 — 11,633 Risk rating 7 — — — — — — — — Risk rating 8 — — — — 1 — — 1 Total construction/land development 267,934 443,445 603,986 79,765 63,383 94,372 189,802 1,742,687 Agricultural Risk rating 1 $ — $ — $ — $ — $ — $ — $ — $ — Risk rating 2 — — — — — — — — Risk rating 3 18,093 30,708 8,005 6,673 5,412 21,538 6,616 97,045 Risk rating 4 4,389 2,120 367 1,164 771 30,233 1,388 40,432 Risk rating 5 — — — — — — — — Risk rating 6 — 45 — — — 1,359 — 1,404 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — — — — Total agricultural 22,482 32,873 8,372 7,837 6,183 53,130 8,004 138,881 Total commercial real estate loans $ 579,801 $ 802,580 $ 1,064,469 $ 764,977 $ 479,325 $ 1,720,827 $ 475,430 $ 5,887,409 Residential real estate loans Residential 1-4 family Risk rating 1 $ — $ — $ — $ — $ — $ 80 $ 90 $ 170 Risk rating 2 — — — — — 29 — 29 Risk rating 3 173,712 153,260 140,787 111,458 89,445 324,888 86,267 1,079,817 Risk rating 4 8,346 4,250 6,071 17,677 23,144 60,710 30,830 151,028 Risk rating 5 — — 3,064 1,506 529 5,114 197 10,410 Risk rating 6 788 2,003 2,406 1,931 1,525 16,914 6,933 32,500 Risk rating 7 — — — — — — — — Risk rating 8 — — — — 6 28 — 34 Total residential 1-4 family 182,846 159,513 152,328 132,572 114,649 407,763 124,317 1,273,988 Multifamily residential Risk rating 1 $ — $ — $ — $ — $ — $ — $ — $ — Risk rating 2 — — — — — — — — Risk rating 3 8,496 10,243 35,143 34,974 9,825 46,473 7,782 152,936 Risk rating 4 — 11,271 27,202 3,435 3,009 21,128 37,047 103,092 Risk rating 5 — — — 7,621 8,170 — — 15,791 Risk rating 6 — — — — 897 1,415 — 2,312 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — — — — Total multifamily residential 8,496 21,514 62,345 46,030 21,901 69,016 44,829 274,131 Total real estate $ 771,143 $ 983,607 $ 1,279,142 $ 943,579 $ 615,875 $ 2,197,606 $ 644,576 $ 7,435,528 September 30, 2021 Term Loans Amortized Cost Basis by Origination Year, Continued 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total (In thousands) Consumer Risk rating 1 $ 2,930 $ 2,109 $ 1,556 $ 1,064 $ 259 $ 1,777 $ 1,753 $ 11,448 Risk rating 2 — — 45 647 — 9 — 701 Risk rating 3 153,432 189,046 147,510 116,833 72,351 102,108 6,801 788,081 Risk rating 4 2,993 1,107 3,110 1,908 185 2,407 74 11,784 Risk rating 5 — 116 — 99 172 134 — 521 Risk rating 6 — 46 347 120 — 1,641 41 2,195 Risk rating 7 — — — — — — — — Risk rating 8 — — — — 1 1 — 2 Total consumer 159,355 192,424 152,568 120,671 72,968 108,077 8,669 814,732 Commercial and industrial Risk rating 1 $ 210,222 $ 28,846 $ 371 $ 157 $ 169 $ 21,457 $ 11,885 $ 273,107 Risk rating 2 19 19 — — 87 280 175 580 Risk rating 3 75,240 77,113 95,166 52,322 25,516 55,060 148,891 529,308 Risk rating 4 132,855 35,907 107,294 98,787 35,085 37,893 75,883 523,704 Risk rating 5 6,197 158 2,019 8,387 5,725 3,077 672 26,235 Risk rating 6 1,222 15,430 6,736 25,441 5,570 4,633 330 59,362 Risk rating 7 — — — 1,777 — — — 1,777 Risk rating 8 — 2 1 — — 1 2 6 Total commercial and industrial 425,755 157,475 211,587 186,871 72,152 122,401 237,838 1,414,079 Agricultural and other Risk rating 1 $ 11,231 $ 203 $ 43 $ — $ — $ 112 $ 375 $ 11,964 Risk rating 2 — — 3,467 — — 908 809 5,184 Risk rating 3 58,313 60,137 5,395 7,572 2,187 50,145 14,162 197,911 Risk rating 4 6,034 376 157 1,542 1,408 1,487 9,441 20,445 Risk rating 5 — — — — — 597 — 597 Risk rating 6 — — 27 14 33 586 — 660 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — — — — Total agricultural and other 75,578 60,716 9,089 9,128 3,628 53,835 24,787 236,761 Total $ 1,431,831 $ 1,394,222 $ 1,652,386 $ 1,260,249 $ 764,623 $ 2,481,919 $ 915,870 $ 9,901,100 December 31, 2020 Term Loans Amortized Cost Basis by Origination Year 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Total (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential Risk rating 1 $ — $ — $ — $ — $ — $ — $ — $ — Risk rating 2 — — — — — — 25 25 Risk rating 3 301,237 340,562 546,670 286,173 289,483 942,449 266,867 2,973,441 Risk rating 4 27,239 139,354 161,461 265,684 197,979 300,055 17,305 1,109,077 Risk rating 5 10,591 16,865 67,089 7,764 108,885 84,609 750 296,553 Risk rating 6 — 859 2,289 987 4,577 40,600 86 49,398 Risk rating 7 — — — — — 552 — 552 Risk rating 8 — — — — — 14 — 14 Total non-farm/non-residential 339,067 497,640 777,509 560,608 600,924 1,368,279 285,033 4,429,060 Construction/land development Risk rating 1 $ — $ — $ — $ — $ — $ — $ — $ — Risk rating 2 — — — — — 283 — 283 Risk rating 3 211,567 181,257 91,323 33,986 25,600 54,245 115,120 713,098 Risk rating 4 129,599 417,737 92,032 46,249 17,161 32,060 76,845 811,683 Risk rating 5 — — 392 21,892 — 1,227 545 24,056 Risk rating 6 — 763 98 63 157 12,065 — 13,146 Risk rating 7 — — — — — — — — Risk rating 8 — — — 1 — 31 — 32 Total construction/land development 341,166 599,757 183,845 102,191 42,918 99,911 192,510 1,56 |
Goodwill and Core Deposits and
Goodwill and Core Deposits and Other Intangibles | 9 Months Ended |
Sep. 30, 2021 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Goodwill and Core Deposits and Other Intangibles | 6. Goodwill and Core Deposits and Other Intangibles Changes in the carrying amount and accumulated amortization of the Company’s goodwill and core deposits and other intangibles at September 30, 2021 and December 31, 2020, were as follows: September 30, 2021 December 31, 2020 (In thousands) Goodwill Balance, beginning of period $ 973,025 $ 958,408 Acquisitions — 14,617 Balance, end of period $ 973,025 $ 973,025 September 30, 2021 December 31, 2020 (In thousands) Core Deposit and Other Intangibles Balance, beginning of period $ 30,728 $ 36,572 Amortization expense (4,262 ) (4,423 ) Balance, September 30 26,466 32,149 Amortization expense (1,421 ) Balance, end of year $ 30,728 The carrying basis and accumulated amortization of core deposits and other intangibles at September 30, 2021 and December 31, 2020 were : September 30, 2021 December 31, 2020 (In thousands) Gross carrying basis $ 86,625 $ 86,625 Accumulated amortization (60,159 ) (55,897 ) Net carrying amount $ 26,466 $ 30,728 Core deposit and other intangible amortization expense was approximately $1.4 million for the three months ended September 30, 2021 and 2020. Core deposit and other intangible amortization expense was approximately $4.3 million and $4.4 million for the nine months ended September 30, 2021 and 2020. The Company’s estimated amortization expense of core deposits and other intangibles for each of the years 2021 through 2025 is approximately: 2021 – $5.7 million; 2022 – $5.7 million; 2023 – $5.5 million; 2024 – $4.3 million; 2025 – $3.9 million. The carrying amount of the Company’s goodwill was $973.0 million at each of September 30, 2021 and December 31, 2020. Goodwill is tested annually for impairment during the fourth quarter or more often if events and circumstances indicate there may be an impairment. If the implied fair value of goodwill is lower than its carrying amount, goodwill impairment is indicated, and goodwill is written down to its implied fair value. Subsequent increases in goodwill value are not recognized in the consolidated financial statements. |
Other Assets
Other Assets | 9 Months Ended |
Sep. 30, 2021 | |
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract] | |
Other Assets | 7. Other Assets Other assets consist primarily of equity securities without a readily determinable fair value and other miscellaneous assets. As of September 30, 2021 and December 31, 2020, other assets were $171.2 million and $164.9 million, respectively. The Company has equity securities without readily determinable fair values such as stock holdings in the Federal Home Loan Bank (“FHLB”) and the Federal Reserve Bank (“Federal Reserve”) which are outside the scope of ASC Topic 321, Investments – Equity Securities The Company has equity securities such as stock holdings in First National Bankers’ Bank and other miscellaneous holdings which are accounted for under ASC Topic 321. These equity securities without a readily determinable fair value were $34.8 million and $28.2 million at September 30, 2021 and December 31, 2020. There were no observable transactions during the period that would indicate a material change in fair value. Therefore, these investments were accounted for at cost, less impairment . |
Deposits
Deposits | 9 Months Ended |
Sep. 30, 2021 | |
Deposits [Abstract] | |
Deposits | 8. Deposits The aggregate amount of time deposits with a minimum denomination of $250,000 was $476.6 and $558.0 million at September 30, 2021 and December 31, 2020. The aggregate amount of time deposits with a minimum denomination of $100,000 was $701.3 million and $864.3 million at September 30, 2021 and December 31, 2020, respectively. Deposits totaling approximately $1.86 billion and $1.98 billion at September 30, 2021 and December 31, 2020, respectively, were public funds obtained primarily from state and political subdivisions in the United States. |
Securities Sold Under Agreement
Securities Sold Under Agreements to Repurchase | 9 Months Ended |
Sep. 30, 2021 | |
Brokers And Dealers [Abstract] | |
Securities Sold Under Agreements to Repurchase | 9. Securities Sold Under Agreements to Repurchase At September 30, 2021 and December 31, 2020, securities sold under agreements to repurchase totaled $141.0 million and $168.9 million, respectively. For the three-month periods ended September 30, 2021 and 2020, securities sold under agreements to repurchase daily weighted-average totaled $143.9 million and $157.2 million, respectively. For the nine months ended September 30, 2021 and 2020, securities sold under agreements to repurchase daily weighted-average totaled $153.7 million and $150.0 million, respectively. The remaining contractual maturity of securities sold under agreements to repurchase in the consolidated balance sheets as of September 30, 2021 and December 31, 2020 is presented in the following tables: September 30, 2021 Overnight and Continuous Up to 30 Days 30-90 Days Greater than 90 Days Total (In thousands) Securities sold under agreements to repurchase: U.S. government-sponsored enterprises $ 8,753 $ — $ — $ — $ 8,753 Mortgage-backed securities 7,979 — — — 7,979 State and political subdivisions 121,412 — — — 121,412 Other securities 2,858 — — — 2,858 Total borrowings $ 141,002 $ — $ — $ — $ 141,002 December 31, 2020 Overnight and Continuous Up to 30 Days 30-90 Days Greater than 90 Days Total (In thousands) Securities sold under agreements to repurchase: U.S. government-sponsored enterprises $ 11,166 $ — $ — $ — $ 11,166 Mortgage-backed securities 18,830 — — — 18,830 State and political subdivisions 135,308 — — — 135,308 Other securities 3,627 — — — 3,627 Total borrowings $ 168,931 $ — $ — $ — $ 168,931 |
FHLB and Other Borrowed Funds
FHLB and Other Borrowed Funds | 9 Months Ended |
Sep. 30, 2021 | |
Advances From Federal Home Loan Banks [Abstract] | |
FHLB and Other Borrowed Funds | 10. FHLB and Other Borrowed Funds The Company’s FHLB borrowed funds, which are secured by our loan portfolio, were $400.0 million at both September 30, 2021 and December 31, 2020. Additionally, the Company had $1.12 billion and $1.11 billion at September 30, 2021 and December 31, 2020, in letters of credit under a FHLB blanket borrowing line of credit, which are used to collateralize public deposits at September 30, 2021 and December 31, 2020, respectively. The parent company took out a $20.0 million line of credit for general corporate purposes during 2015. The balance on this line of credit at September 30, 2021 and December 31, 2020 was zero. |
Subordinated Debentures
Subordinated Debentures | 9 Months Ended |
Sep. 30, 2021 | |
Debt Disclosure [Abstract] | |
Subordinated Debentures | 11. Subordinated Debentures Subordinated debentures at September 30, 2021 and December 31, 2020 consisted of subordinated debt securities and guaranteed payments on trust preferred securities with the following components: As of September 30, As of December 31, 2021 2020 (In thousands) Trust preferred securities Subordinated debentures, issued in 2006, due 2036, fixed rate of 6.75% during the first five years and at a floating rate of 1.85% three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty $ 3,093 $ 3,093 Subordinated debentures, issued in 2004, due 2034, fixed rate of 6.00% during the first five years and at a floating rate of 2.00% three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty 15,464 15,464 Subordinated debentures, issued in 2005, due 2035, fixed rate of 5.84% during the first five years and at a floating rate of 1.45% three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty 25,774 25,774 Subordinated debentures, issued in 2004, due 2034, fixed rate of 4.29% during the first five years and at a floating rate of 2.50% three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty 16,495 16,495 Subordinated debentures, issued in 2005, due 2035, floating rate of 2.15% above the three-month LIBOR rate, reset quarterly, currently callable without penalty 4,489 4,452 Subordinated debentures, issued in 2006, due 2036, fixed rate of 7.38% during the first five years and at a floating rate of 1.62% three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty 5,919 5,849 Subordinated debt securities Subordinated notes, net of issuance costs, issued in 2017, due 2027, fixed rate of 5.625% 3.575% thereafter, callable in 2022 without penalty 299,666 299,199 Total $ 370,900 $ 370,326 Trust Preferred Securities. The Company holds trust preferred securities with a face amount of $73.3 million which are currently callable without penalty based on the terms of the specific agreements. The trust preferred securities are tax-advantaged issues that qualify for Tier 1 capital treatment subject to certain limitations. However, now that the Company has exceeded $15 billion in assets, the Tier 1 treatment of the Company’s outstanding trust preferred securities will be phased out upon completion of the acquisition of Happy Bancshares, but these securities will still be treated as Tier 2 capital. Distributions on these securities are included in interest expense. Each of the trusts is a statutory business trust organized for the sole purpose of issuing trust securities and investing the proceeds in the Company’s subordinated debentures, the sole asset of each trust. The trust preferred securities of each trust represent preferred beneficial interests in the assets of the respective trusts and are subject to mandatory redemption upon payment of the subordinated debentures held by the trust. The Company wholly owns the common securities of each trust. Each trust’s ability to pay amounts due on the trust preferred securities is solely dependent upon the Company making payment on the related subordinated debentures. The Company’s obligations under the subordinated securities and other relevant trust agreements, in aggregate, constitute a full and unconditional guarantee by the Company of each respective trust’s obligations under the trust securities issued by each respective trust. Subordinated Debt Securities . On April 3, 2017, the Company completed an underwritten public offering of $300.0 million in aggregate principal amount of its 5.625% Fixed-to-Floating Rate Subordinated Notes due 2027 (the “Notes”) for net proceeds, after underwriting discounts and issuance costs, of approximately $297.0 million. The Notes are unsecured, subordinated debt obligations and mature on April 15, 2027. From and including the date of issuance to, but excluding April 15, 2022, the Notes bear interest at an initial rate of 5.625% per annum. From and including April 15, 2022 to, but excluding the maturity date or earlier redemption, the Notes will bear interest at a floating rate equal to three-month LIBOR as calculated on each applicable date of determination plus a spread of 3.575%; provided, however, that in the event three-month LIBOR is less than zero, then three-month LIBOR shall be deemed to be zero The Company may, beginning with the interest payment date of April 15, 2022, and on any interest payment date thereafter, redeem the Notes, in whole or in part, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest to but excluding the date of redemption. The Company may also redeem the Notes at any time, including prior to April 15, 2022, at its option, in whole but not in part, if: (i) a change or prospective change in law occurs that could prevent the Company from deducting interest payable on the Notes for U.S. federal income tax purposes; (ii) a subsequent event occurs that could preclude the Notes from being recognized as Tier 2 capital for regulatory capital purposes; or (iii) the Company is required to register as an investment company under the Investment Company Act of 1940, as amended; in each case, at a redemption price equal to 100% of the principal amount of the Notes plus any accrued and unpaid interest to but excluding the redemption date. The Notes provide the Company with additional Tier 2 regulatory capital to support expected future growth. |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2021 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 12. Income Taxes The following is a summary of the components of the provision (benefit) for income taxes for the three and nine months ended September 30, 2021 and 2020: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2021 2020 2021 2020 (In thousands) Current: Federal $ 14,693 $ 16,271 $ 52,771 $ 57,154 State 4,864 5,386 17,470 18,921 Total current 19,557 21,657 70,241 76,075 Deferred: Federal 2,744 (451 ) 5,211 (29,071 ) State 908 (149 ) 1,725 (9,624 ) Total deferred 3,652 (600 ) 6,936 (38,695 ) Income tax expense $ 23,209 $ 21,057 $ 77,177 $ 37,380 The reconciliation between the statutory federal income tax rate and effective income tax rate is as follows for the three and nine months ended September 30, 2021 and 2020: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Statutory federal income tax rate 21.00 % 21.00 % 21.00 % 21.00 % Effect of non-taxable interest income (1.08 ) (1.03 ) (1.00 ) (1.48 ) Stock compensation 0.16 1.17 0.23 0.53 State income taxes, net of federal benefit 3.50 3.82 4.00 3.00 Executive officer compensation & other 0.05 (1.66 ) (0.32 ) (1.07 ) Effective income tax rate 23.63 % 23.30 % 23.91 % 21.98 % The types of temporary differences between the tax basis of assets and liabilities and their financial reporting amounts that give rise to deferred income tax assets and liabilities, and their approximate tax effects, are as follows: September 30, 2021 December 31, 2020 (In thousands) Deferred tax assets: Allowance for credit losses $ 69,135 $ 72,445 Deferred compensation 4,751 4,741 Stock compensation 5,475 4,768 Non-accrual interest income 853 775 Real estate owned 109 620 Loan discounts 4,151 6,806 Tax basis premium/discount on acquisitions 3,693 5,101 Investments 273 502 Deposits (57 ) (33 ) Other 5,259 5,855 Gross deferred tax assets 93,642 101,580 Deferred tax liabilities: Accelerated depreciation on premises and equipment 264 1,929 Unrealized gain on securities 9,735 15,072 Core deposit intangibles 6,066 7,056 FHLB dividends 2,807 2,711 Other 5,046 4,563 Gross deferred tax liabilities 23,918 31,331 Net deferred tax assets $ 69,724 $ 70,249 The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction and the states of Alabama, Arizona, Arkansas, California, Florida, Georgia, Illinois, Kentucky, Maryland, New York, Oklahoma, Missouri, Pennsylvania, Tennessee, Texas and Wisconsin. The Company is no longer subject to U.S. federal and state tax examinations by tax authorities for years before 2018. |
Common Stock, Compensation Plan
Common Stock, Compensation Plans and Other | 9 Months Ended |
Sep. 30, 2021 | |
Equity [Abstract] | |
Common Stock, Compensation Plans and Other | 13. Common Stock, Compensation Plans and Other Common Stock As of September 30, 2021, the Company’s Restated Articles of Incorporation, as amended, authorize the issuance of up to 300,000,000 shares of common stock, par value $0.01 per share. The Company also has the authority to issue up to 5,500,000 shares of preferred stock, par value $0.01 per share under the Company’s Restated Articles of Incorporation, as amended. Stock Repurchases During the first nine months of 2021, the Company repurchased a total of 1.4 million shares with a weighted-average stock price of $25.64 per share. Shares repurchased under the program as of September 30, 2021 since its inception total 17,349,835 shares. The remaining balance available for repurchase is 22,402,165 shares at September 30, 2021. Stock Compensation Plans The Company has a stock option and performance incentive plan known as the Amended and Restated 2006 Stock Option and Performance Incentive Plan (the “Plan”). The purpose of the Plan is to attract and retain highly qualified officers, directors, key employees, and other persons, and to motivate those persons to improve the Company’s business results. As of September 30, 2021, the maximum total number of shares of the Company’s common stock available for issuance under the Plan was 13,288,000. At September 30, 2021, the Company had approximately 1,602,000 shares of common stock remaining available for future grants and approximately 3,041,000 stock options outstanding for a total of approximately 4,643,000 shares of common stock reserved for issuance pursuant to outstanding awards under the Plan. The intrinsic value of the stock options outstanding and stock options vested at September 30, 2021 was $10.9 million and $9.7 million, respectively. The intrinsic value of stock options exercised during the nine months ended September 30, 2021 was approximately $1.7 million. Total unrecognized compensation cost, net of income tax benefit, related to non-vested stock option awards, which are expected to be recognized over the vesting periods, was approximately $6.5 million as of September 30, 2021. The table below summarizes the stock option transactions under the Plan at September 30, 2021 and December 31, 2020 and changes during the nine-month period and year then ended : For the Nine Months Ended September 30, 2021 For the Year Ended December 31, 2020 Shares (000) Weighted- Average Exercisable Price Shares (000) Weighted- Average Exercisable Price Outstanding, beginning of year 3,254 $ 19.77 3,411 $ 19.60 Granted 15 21.68 — — Forfeited/Expired (47 ) 22.25 (76 ) 21.95 Exercised (181 ) 15.27 (81 ) 10.61 Outstanding, end of period 3,041 20.01 3,254 19.77 Exercisable, end of period 1,552 $ 17.37 1,537 $ 16.82 Stock-based compensation expense for stock-based compensation awards granted is based on the grant-date fair value. For stock option awards, the fair value is estimated at the date of grant using the Black-Scholes option-pricing model. This model requires the input of highly subjective assumptions, changes to which can materially affect the fair value estimate. Additionally, there may be other factors that would otherwise have a significant effect on the value of employee stock options granted but are not considered by the model. Accordingly, while management believes that the Black-Scholes option-pricing model provides a reasonable estimate of fair value, the model does not necessarily provide the best single measure of fair value for the Company's employee stock options. The weighted-average fair value of options granted during the nine months ended September 30, 2021 was $11.11 per share. There were no options granted during the year ended December 31, 2020. The fair value of each option granted is estimated on the date of grant using the Black-Scholes option-pricing model based on the weighted-average assumptions for expected dividend yield, expected stock price volatility, risk-free interest rate, and expected life of options granted. The assumptions used in determining the fair value of the 2021 and 2020 stock option grants were as follows: For the Nine Months Ended September 30, 2021 For the Year Ended December 31, 2020 Expected dividend yield 2.59 % Not Applicable Expected stock price volatility 70.13 % Not Applicable Risk-free interest rate 0.75 % Not Applicable Expected life of options 6.5 years Not Applicable The following is a summary of currently outstanding and exercisable options at September 30, 2021: Options Outstanding Options Exercisable Exercise Prices Options Outstanding Shares (000) Weighted- Average Remaining Contractual Life (in years) Weighted- Average Exercise Price Options Exercisable Shares (000) Weighted- Average Exercise Price $6.56 to $8.62 164 1.15 $ 8.32 164 $ 8.32 $9.54 to $14.71 140 2.80 13.23 140 13.23 $16.77 to $16.86 130 2.89 16.80 130 16.80 $17.12 to $17.36 102 3.47 17.14 102 17.14 $17.40 to $18.46 871 3.88 18.45 738 18.45 $18.50 to $20.16 41 7.53 19.05 14 19.04 $20.58 to $21.25 158 4.51 21.08 143 21.12 $21.31 to $22.22 112 6.85 22.18 60 22.22 $22.70 to $23.32 1,242 6.81 23.32 1 22.70 $23.51 to $25.96 81 5.72 25.63 60 25.81 3,041 1,552 The table below summarized the activity for the Company’s restricted stock issued and outstanding at September 30, 2021 and December 31, 2020 and changes during the period and year then ended: As of September 30, 2021 As of December 31, 2020 (In thousands) Beginning of year 1,371 1,636 Issued 215 264 Vested (238 ) (453 ) Forfeited (26 ) (76 ) End of period 1,322 1,371 Amount of expense for nine months and twelve months ended, respectively $ 5,307 $ 6,824 Total unrecognized compensation cost, net of income tax benefit, related to non-vested restricted stock awards, which are expected to be recognized over the vesting periods, was approximately $16.6 million as of September 30, 2021. |
Non-Interest Expense
Non-Interest Expense | 9 Months Ended |
Sep. 30, 2021 | |
Other Income And Expenses [Abstract] | |
Non-Interest Expense | 14. Non-Interest Expense The table below shows the components of non-interest expense for the three and nine months ended September 30, 2021 and 2020: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (In thousands) Salaries and employee benefits $ 42,469 $ 41,511 $ 126,990 $ 120,928 Occupancy and equipment 9,305 9,566 27,584 28,611 Data processing expense 6,024 4,921 17,787 13,861 Merger and acquisition expenses 1,006 — 1,006 711 Other operating expenses: Advertising 1,204 902 3,444 2,923 Amortization of intangibles 1,421 1,420 4,262 4,423 Electronic banking expense 2,521 2,426 7,375 6,195 Directors’ fees 395 429 1,192 1,265 Due from bank service charges 265 259 787 721 FDIC and state assessment 1,648 1,607 4,119 5,001 Insurance 749 766 2,317 2,223 Legal and accounting 1,050 1,235 2,954 3,432 Other professional fees 1,787 1,661 5,196 6,622 Operating supplies 474 460 1,426 1,548 Postage 301 328 931 968 Telephone 371 321 1,082 955 Other expense 4,629 3,900 13,015 12,757 Total other operating expenses 16,815 15,714 48,100 49,033 Total non-interest expense $ 75,619 $ 71,712 $ 221,467 $ 213,144 |
Leases
Leases | 9 Months Ended |
Sep. 30, 2021 | |
Leases [Abstract] | |
Leases | 15. Leases The Company leases land and office facilities under long-term, non-cancelable operating lease agreements. The leases expire at various dates through 2042 and do not include renewal options based on economic factors that would have implied that continuation of the lease was reasonably certain. Certain leases provide for increases in future minimum annual rental payments as defined in the lease agreements. The leases generally include real estate taxes and common area maintenance (“CAM”) charges in the rental payments. Short-term leases are leases having a term of twelve months or less. As part of the adoption of Topic 842, the Company elected the package of practical expedients whereby we did not reassess (i) whether any expired or existing contracts are or contain leases, (ii) the lease classification for any expired or existing leases and (iii) initial direct costs for any existing leases. In accordance with ASU 2018-11, the Company elected the practical expedient whereby we elected to not separate nonlease components from the associated lease component of our operating leases. As a result, we account for these components as a single component under Topic 842 since (i) the timing and pattern of transfer of the nonlease components and the associated lease component are the same and (ii) the lease component, if accounted for separately, would be classified as an operating lease. The Company recognizes short term leases on a straight-line basis and does not record a related ROU asset and liability for such leases. In addition, equipment leases were determined to be immaterial and a related ROU asset and liability for such leases is not recorded. As of September 30, 2021, the balances of the right-of-use asset and lease liability was $40.8 million and $43.7 million, respectively. As of December 31, 2020, the balances of the right-of-use asset and lease liability was $40.2 million and $43.0 million, respectively The right-of-use asset is included in bank premises and equipment, net, and the lease liability is included in accrued interest payable and other liabilities. The minimum rental commitments under these noncancelable operating leases are as follows (in thousands) as of September 30, 2021 and December 31, 2020: September 30, 2021 December 31, 2020 2021 $ 2,910 $ 8,235 2022 7,366 6,486 2023 6,535 5,714 2024 5,972 5,262 2025 5,510 4,818 Thereafter 30,388 27,453 Total future minimum lease payments $ 58,681 $ 57,968 Discount effect of cash flows (15,017 ) (14,922 ) Present value of net future minimum lease payments $ 43,664 $ 43,046 Additional information (dollar amounts in thousands): For the Three Months Ended For the Nine Months Ended Lease expense: September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Operating lease expense $ 1,971 $ 2,044 $ 5,961 $ 6,085 Short-term lease expense 1 9 5 41 Variable lease expense 250 253 759 772 Total lease expense $ 2,222 $ 2,306 $ 6,725 $ 6,898 Other information: Cash paid for amounts included in the measurement of lease liabilities $ 1,988 $ 2,021 $ 5,956 $ 6,013 Weighted-average remaining lease term (in years) 9.67 10.08 9.78 10.21 Weighted-average discount rate 3.42 % 3.60 % 3.49 % 3.61 % The Company currently leases three properties from three related parties. Total rent expense from the leases was $36,000 or 1.64% of total lease expense and $107,000 or 1.59% of total lease expense for the three and nine months ended September 30, 2021, respectively. |
Significant Estimates and Conce
Significant Estimates and Concentrations of Credit Risks | 9 Months Ended |
Sep. 30, 2021 | |
Text Block [Abstract] | |
Significant Estimates and Concentrations of Credit Risks | 16. Significant Estimates and Concentrations of Credit Risks Accounting principles generally accepted in the United States of America require disclosure of certain significant estimates and current vulnerabilities due to certain concentrations. Estimates related to the allowance for credit losses and certain concentrations of credit risk are reflected in Note 5, while deposit concentrations are reflected in Note 8. The Company’s primary market areas are in Arkansas, Florida, South Alabama and New York. The Company primarily grants loans to customers located within these markets unless the borrower has an established relationship with the Company. The diversity of the Company’s economic base tends to provide a stable lending environment. Although the Company has a loan portfolio that is diversified in both industry and geographic area, a substantial portion of its debtors’ ability to honor their contracts is dependent upon real estate values, tourism demand and the economic conditions prevailing in its market areas. Although the Company has a diversified loan portfolio, at September 30, 2021 and December 31, 2020, commercial real estate loans represented 59.5% and 54.4% of total loans receivable, respectively, and 215.2% and 234.3% of total stockholders’ equity at September 30, 2021 and December 31, 2020, respectively. Residential real estate loans represented 15.6% and 18.5% of total loans receivable and 56.6% and 79.6% of total stockholders’ equity at September 30, 2021 and December 31, 2020, respectively. Approximately 74.2% of the Company’s total loans and 76.4% of the Company’s real estate loans as of September 30, 2021, are to borrowers whose collateral is located in Alabama, Arkansas, Florida and New York, the states in which the Company has its branch locations. As of September 30, 2021, the markets in which we operate have begun to experience economic recovery. However, there is still a significant amount of uncertainty related to the COVID-19 pandemic which may slow the anticipated economic recovery. The Company determined that an additional provision for credit losses was not necessary as the current level of the allowance for credit losses was considered adequate as of September 30, 2021. During the nine months ended September 30, 2021, the Company recorded a negative provision for unfunded commitments of $4.8 million. This was primarily due to a single commercial & industrial loan for which a reserve was no longer considered necessary due to the borrower’s current cash flow position . Any future volatility in the economy could cause the values of assets and liabilities recorded in the financial statements to change rapidly, resulting in material future adjustments in asset values, the allowance for credit losses and capital that could negatively impact the Company’s ability to meet regulatory capital requirements and maintain sufficient liquidity. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2021 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 17. Commitments and Contingencies In the ordinary course of business, the Company makes various commitments and incurs certain contingent liabilities to fulfill the financing needs of their customers. These commitments and contingent liabilities include lines of credit and commitments to extend credit and issue standby letters of credit. The Company applies the same credit policies and standards as they do in the lending process when making these commitments. The collateral obtained is based on the assessed creditworthiness of the borrower. At September 30, 2021 and December 31, 2020, commitments to extend credit of $3.11 billion and $2.82 billion, respectively, were outstanding. A percentage of these balances are participated out to other banks; therefore, the Company can call on the participating banks to fund future draws. Since some of these commitments are expected to expire without being drawn upon, the total commitment amount does not necessarily represent future cash requirements. Outstanding standby letters of credit are contingent commitments issued by the Company, generally to guarantee the performance of a customer in third-party borrowing arrangements. The term of the guarantee is dependent upon the creditworthiness of the borrower, some of which are long-term. The amount of collateral obtained, if deemed necessary, is based on management’s credit evaluation of the counterparty. Collateral held varies but may include accounts receivable, inventory, property, plant and equipment, commercial real estate and residential real estate. Management uses the same credit policies in granting lines of credit as it does for on-balance-sheet instruments. The maximum amount of future payments the Company could be required to make under these guarantees at September 30, 2021 and December 31, 2020, is $90.6 million and $56.1 million, respectively. The Company and/or its bank subsidiary have various unrelated legal proceedings, most of which involve loan foreclosure activity pending, which, in the aggregate, are not expected to have a material adverse effect on the financial position or results of operations or cash flows of the Company and its subsidiary. |
Regulatory Matters
Regulatory Matters | 9 Months Ended |
Sep. 30, 2021 | |
Regulatory Matters [Abstract] | |
Regulatory Matters | 18. Regulatory Matters The Bank is subject to a legal limitation on dividends that can be paid to the parent company without prior approval of the applicable regulatory agencies. Arkansas bank regulators have specified that the maximum dividend limit state banks may pay to the parent company without prior approval is 75% of the current year earnings plus 75% of the retained net earnings of the preceding year. Since the Bank is also under supervision of the Federal Reserve, it is further limited if the total of all dividends declared in any calendar year by the Bank exceeds the Bank’s net profits to date for that year combined with its retained net profits for the preceding two years. During the first nine months of 2021, the Company requested approximately $195.6 million in regular dividends from its banking subsidiary. The Company’s banking subsidiary is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company must meet specific capital guidelines that involve quantitative measures of the Company’s assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The Company’s capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Furthermore, the Company’s regulators could require adjustments to regulatory capital not reflected in the consolidated financial statements. Quantitative measures established by regulation to ensure capital adequacy require the Company to maintain minimum amounts and ratios of total, common Tier 1 equity and Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined) and of Tier 1 capital (as defined) to average assets (as defined). Management believes that, as of September 30, 2021, the Company meets all capital adequacy requirements to which it is subject. On December 21, 2018, the federal banking agencies issued a joint final rule to revise their regulatory capital rules to permit bank holding companies and banks to phase-in, for regulatory capital purposes, the day-one impact of the new CECL accounting rule on retained earnings over a period of three years. As part of its response to the impact of COVID-19, on March 27, 2020, the federal banking regulatory agencies issued an interim final rule that provided the option to temporarily delay certain effects of CECL on regulatory capital for two years, followed by a three-year transition period. The interim final rule allows bank holding companies and banks to delay for two years 100% of the day-one impact of adopting CECL and 25% of the cumulative change in the reported allowance for credit losses since adopting CECL. The Company elected to adopt the interim final rule, which is reflected in the risk-based capital ratios presented below. In July 2013, the Federal Reserve Board and the other federal bank regulatory agencies issued a final rule to revise their risk-based and leverage capital requirements and their method for calculating risk-weighted assets to make them consistent with the agreements that were reached by the Basel Committee on Banking Supervision in “Basel III: A Global Regulatory Framework for More Resilient Banks and Banking Systems” and certain provisions of the Dodd-Frank Act (“Basel III”). Basel III applies to all depository institutions, bank holding companies with total consolidated assets of $500 million or more, and savings and loan holding companies. Basel III became effective for the Company and its bank subsidiary on January 1, 2015. Basel III limits a banking organization’s capital distributions and certain discretionary bonus payments if the banking organization does not hold a “capital conservation buffer” of 2.5% of common equity Tier 1 capital to risk-weighted assets, which is in addition to the amount necessary to meet its minimum risk-based capital requirements. The capital conservation buffer requirement began being phased in beginning January 1, 2016 at the 0.625% level and increased by 0.625% on each subsequent January 1, until it reached 2.5% on January 1, 2019 when the phase-in period ended, and the full capital conservation buffer requirement became effective. Basel III permanently grandfathers trust preferred securities and other non-qualifying capital instruments that were issued and outstanding as of May 19, 2010 in the Tier 1 capital of bank holding companies with total consolidated assets of less than $15 billion as of December 31, 2009. The rule phases out of Tier 1 capital these non-qualifying capital instruments issued before May 19, 2010 by all other bank holding companies. Because our total consolidated assets were less than $15 billion as of December 31, 2009, our outstanding trust preferred securities continue to be treated as Tier 1 capital. However, now that the Company has exceeded $15 billion in assets, the Tier 1 treatment of the Company’s outstanding trust preferred securities will be phased out upon completion of the acquisition of Happy Bancshares, but these securities will still be treated as Tier 2 capital. Basel III also amended the prompt corrective action rules to incorporate a “common equity Tier 1 capital” requirement and to raise the capital requirements for certain capital categories. In order to be adequately capitalized for purposes of the prompt corrective action rules, a banking organization will be required to have at least a 4.5% “common equity Tier 1 risk-based capital” ratio, a 4% “Tier 1 leverage capital” ratio, a 6% “Tier 1 risk-based capital” ratio and an 8% “total risk-based capital” ratio . The Federal Reserve Board’s risk-based capital guidelines include the definitions for (1) a well-capitalized institution, (2) an adequately-capitalized institution, and (3) an undercapitalized institution. Under Basel III, the criteria for a well-capitalized institution are now: a 6.5% “common equity Tier 1 risk-based capital” ratio, a 5% “Tier 1 leverage capital” ratio, an 8% “Tier 1 risk-based capital” ratio, and a 10% “total risk-based capital” ratio . As of September 30, 2021, the Bank met the capital standards for a well-capitalized institution. The Company’s “common equity Tier 1 risk-based capital” ratio, “Tier 1 leverage capital” ratio, “Tier 1 risk-based capital” ratio, and “total risk-based capital” ratio were 15.12%, 11.00%, 15.73%, and 19.55%, respectively, |
Additional Cash Flow Informatio
Additional Cash Flow Information | 9 Months Ended |
Sep. 30, 2021 | |
Supplemental Cash Flow Elements [Abstract] | |
Additional Cash Flow Information | 19. Additional Cash Flow Information In connection with the LH-Finance acquisition, accounted for using the purchase method, the Company acquired approximately $409.1 million in assets, including $407.4 million in loans as of February 29, 2020, and paid $421.2 million in cash. The following is a summary of the Company’s additional cash flow information during the nine-month periods ended: September 30, 2021 2020 (In thousands) Interest paid $ 36,757 $ 72,909 Income taxes paid 82,245 54,698 Assets acquired by foreclosure 2,058 1,673 |
Financial Instruments
Financial Instruments | 9 Months Ended |
Sep. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Financial Instruments | 20. Financial Instruments Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There is a hierarchy of three levels of inputs that may be used to measure fair values: Level 1 Quoted prices in active markets for identical assets or liabilities Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Transfers of financial instruments between levels within the fair value hierarchy are recognized on the date management determines that the underlying circumstances or assumptions have changed. Financial Assets and Liabilities Measured on a Recurring Basis Available-for-sale securities are the only material instruments valued on a recurring basis which are held by the Company at fair value. The Company does not have any Level 1 securities. Primarily all of the Company's securities are considered to be Level 2 securities. These Level 2 securities consist primarily of U.S. government-sponsored enterprises, mortgage-backed securities plus state and political subdivisions. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. As of September 30, 2021 and December 31, 2020, Level 3 securities were immaterial. In addition, there were no material transfers between hierarchy levels during 2021 and 2020. See Note 3 for additional detail related to investment securities. The Company reviews the prices supplied by the independent pricing service, as well as their underlying pricing methodologies, for reasonableness and to ensure such prices are aligned with traditional pricing matrices. In general, the Company does not purchase investment portfolio securities with complicated structures. Pricing for the Company’s investment securities is fairly generic and is easily obtained. The Company uses a third-party comparison pricing vendor in order to reflect consistency in the fair values of the investment securities sampled by the Company each quarter. Financial Assets and Liabilities Measured on a Nonrecurring Basis Impaired loans that are collateral dependent are the only material financial assets valued on a non-recurring basis which are held by the Company at fair value. Loan impairment is reported when full payment under the loan terms is not expected. Impaired loans are carried at the net realizable value of the collateral if the loan is collateral dependent. A portion of the allowance for credit losses is allocated to impaired loans if the value of such loans is deemed to be less than the unpaid balance. If these allocations cause the allowance for credit losses to require an increase, such increase is reported as a component of the provision for credit losses . The fair value of loans with specific allocated losses was $252.8 million and $102.1 million as of September 30, 2021 and December 31, 2020, respectively. The increase in collateral-dependent impaired loans was due to the Company changing the valuation for lodging and assisted living loans to a market price valuation methodology. This involved assigning a 15% discount of par for these impaired loans. In the event of default, liquidation would be achieved through a loan sale. The Company is continuing to monitor these impaired loans and will adjust the discount as necessary. This valuation is considered Level 3, The Company reversed approximately $92,000 and $388,000 of accrued interest receivable when impaired loans were put on non-accrual status during the three months ended September 30, 2021 and 2020, respectively. The Company reversed approximately $276,000 and $811,000 of accrued interest receivable when impaired loans were put on non-accrual status during the nine months ended September 30, 2021 and 2020, respectively. Nonfinancial Assets and Liabilities Measured on a Nonrecurring Basis Foreclosed assets held for sale are the only material non-financial assets valued on a non-recurring basis which are held by the Company at fair value, less estimated costs to sell. At foreclosure, if the fair value, less estimated costs to sell, of the real estate acquired is less than the Company’s recorded investment in the related loan, a write-down is recognized through a charge to the allowance for credit losses. Additionally, valuations are periodically performed by management and any subsequent reduction in value is recognized by a charge to income. The fair value of foreclosed assets held for sale is estimated using Level 3 inputs based on appraisals of underlying collateral. As of September 30, 2021 and December 31, 2020, the fair value of foreclosed assets held for sale, less estimated costs to sell, was $1.2 million and $4.4 million, respectively. No foreclosed assets held for sale were remeasured during the nine months ended September 30, 2021. Regulatory guidelines require the Company to reevaluate the fair value of foreclosed assets held for sale on at least an annual basis. The Company’s policy is to comply with the regulatory guidelines. The significant unobservable (Level 3) inputs used in the fair value measurement of collateral for collateral-dependent impaired loans and foreclosed assets primarily relate to customized discounting criteria applied to the customer’s reported amount of collateral. The amount of the collateral discount depends upon the condition and marketability of the underlying collateral. As the Company’s primary objective in the event of default would be to monetize the collateral to settle the outstanding balance of the loan, less marketable collateral would receive a larger discount. During the reported periods, collateral discounts ranged from 25% to 55% for commercial and residential real estate collateral. Fair Values of Financial Instruments The following table presents the estimated fair values of the Company’s financial instruments. Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date . September 30, 2021 Carrying Amount Fair Value Level (In thousands) Financial assets: Cash and cash equivalents $ 3,280,256 $ 3,280,256 1 Loans receivable, net of impaired loans and allowance 9,409,596 9,687,138 3 Accrued interest receivable 48,577 48,577 1 FHLB, Federal Reserve & First National Bankers Bank stock; other equity investments 122,824 122,824 3 Financial liabilities: Deposits: Demand and non-interest bearing $ 4,139,149 $ 4,139,149 1 Savings and interest-bearing transaction accounts 8,813,326 8,813,326 1 Time deposits 1,050,896 1,089,205 3 Securities sold under agreements to repurchase 141,002 141,002 1 FHLB and other borrowed funds 400,000 403,489 2 Accrued interest payable 9,409 9,409 1 Subordinated debentures 370,900 377,839 3 December 31, 2020 Carrying Amount Fair Value Level (In thousands) Financial assets: Cash and cash equivalents $ 1,263,788 $ 1,263,788 1 Loans receivable, net of impaired loans and allowance 10,873,120 11,292,004 3 Accrued interest receivable 60,528 60,528 1 FHLB, Federal Reserve & First National Bankers Bank stock; other equity investments 114,854 114,854 3 Financial liabilities: Deposits: Demand and non-interest bearing $ 3,266,753 $ 3,266,753 1 Savings and interest-bearing transaction accounts 8,212,240 8,212,240 1 Time deposits 1,246,797 1,266,430 3 Securities sold under agreements to repurchase 168,931 168,931 1 FHLB and other borrowed funds 400,000 414,207 2 Accrued interest payable 5,925 5,925 1 Subordinated debentures 370,326 378,981 3 |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Changes And Error Corrections [Abstract] | |
Recent Accounting Pronouncements | 21. Recent Accounting Pronouncements In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract, In November 2018, the FASB issued ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments-Credit Losses. In March 2019, the FASB issued ASU 2019-01, Leases (Topic 842) Codification Improvements fair value In April 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments – Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments. clarify certain aspects of the accounting for credit losses, hedging activities, and financial instruments (addressed by ASUs 2016-13, 2017-12 and 2016-01, respectively). In May 2019, the FASB issued ASU 2019-05, Financial Instruments – Credit Losses (Topic 326): Targeted Transition Relief provide transition relief for entities adopting the Board’s credit losses standard, ASU 2016-13. Specifically, ASU 2019-05 amends ASU 2016-13 to allow companies to irrevocably elect, upon adoption of ASU 2016-13, the fair value option for financial instruments that were previously recorded at amortized cost and are within the scope of the credit losses guidance in ASC 326-20, are eligible for the fair value option under ASC 825-10, and are not held-to-maturity debt securities. In November 2019, the FASB issued ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments – Credit Losses. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. In March 2020, the FASB issued ASU 2020-04 ,“Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law. Section 4013 of the CARES Act provides financial institutions the temporary option to not apply , Receivables—Troubled Debt Restructurings by Creditors All of the customers currently on deferment chose principal deferment only and now have returned to paying interest monthly In January 2021, the FASB issued ASU 2021-01, “Reference Rate Reform (Topic 848): Scope.” |
Nature of Operations and Summ_2
Nature of Operations and Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Operating Segments | Operating Segments Operating segments are components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Bank is the only significant subsidiary upon which management makes decisions regarding how to allocate resources and assess performance. Each of the branches of the Bank provide a group of similar banking services, including such products and services as commercial, real estate and consumer loans, time deposits, checking and savings accounts. The individual bank branches have similar operating and economic characteristics. While the chief decision maker monitors the revenue streams of the various products, services and branch locations, operations are managed, and financial performance is evaluated on a Company-wide basis. Accordingly, all of the banking services and branch locations are considered by management to be aggregated into one reportable operating segment. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses, the valuation of investment securities, the valuation of foreclosed assets and the valuations of assets acquired, and liabilities assumed in business combinations. In connection with the determination of the allowance for credit losses and the valuation of foreclosed assets, management obtains independent appraisals for significant properties. |
Principles of Consolidation | Principles of Consolidation The consolidated financial statements include the accounts of HBI and its subsidiaries. Significant intercompany accounts and transactions have been eliminated in consolidation. |
Reclassifications | Reclassifications Various items within the accompanying consolidated financial statements for previous years have been reclassified to provide more comparative information. These reclassifications had no effect on net earnings or stockholders’ equity. |
Interim financial information | Interim financial information The accompanying unaudited consolidated financial statements as of September 30, 2021 and 2020 have been prepared in condensed format, and therefore do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. The information furnished in these interim statements reflects all adjustments which are, in the opinion of management, necessary for a fair statement of the results for each respective period presented. Such adjustments are of a normal recurring nature. The results of operations in the interim statements are not necessarily indicative of the results that may be expected for any other quarter or for the full year. The interim financial information should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s 2020 Form 10-K, filed with the Securities and Exchange Commission. |
New Accounting Pronouncements | New Accounting Pronouncements The Company adopted ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments The Company adopted ASC 326 using the modified retrospective method for loans and off-balance-sheet (“OBS”) credit exposures. Results for reporting periods beginning after January 1, 2020 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. The Company recorded a one-time cumulative-effect adjustment to the allowance for credit losses of $44.0 million which was recognized through a $32.5 million adjustment to retained earnings, net of tax. This adjustment brought the beginning balance of the allowance for credit losses to $146.1 million as of January 1, 2020. In addition, the Company recorded a $15.5 million reserve on unfunded commitments which was recognized through an $11.5 million adjustment to retained earnings, net of tax. The Company adopted ASC 326 using the prospective transition approach for financial assets purchased with credit deterioration (“PCD”) that were previously classified as purchased credit impaired (“PCI”) and accounted for under ASC 310-30. In 2019, the Company reevaluated its loan pools of purchased loans with deteriorated credit quality. These loans pools related specifically to acquired loans from the Heritage, Liberty, Landmark, Bay Cities, Bank of Commerce, Premier Bank, Stonegate and Shore Premier Finance acquisitions. At acquisition, a portion of these loans was recorded as purchased credit impaired loans on a pool by pool basis. Through the reevaluation of these loan pools, management determined that estimated losses for purchase credit impaired loans should be processed against the credit mark of the applicable pools. The remaining non-accretable mark was then moved to accretable mark to be recognized over the remaining weighted average life of the loan pools. The projected losses for these loans were less than the total credit mark. As such, the remaining $107.6 million of loans in these pools along with the $29.3 million in accretable yield was deemed to be immaterial and was reclassified out of the purchased credit impaired loans category. As of December 31, 2019, the Company no longer held any purchased loans with deteriorated credit quality. Therefore, the Company did not have any PCI loans upon adoption on of ASC 326 as of January 1, 2020. The Company has purchased loans, some of which have experienced more than insignificant credit deterioration since origination. PCD loans are recorded at the amount paid. An allowance for credit losses is determined using the same methodology as other loans. The initial allowance for credit losses determined on a collective basis is allocated to individual loans. The sum of the loan’s purchase price and allowance for credit losses becomes its initial amortized cost basis. The difference between the initial amortized cost basis and the par value of the loan is a noncredit discount or premium, which is amortized into interest income over the life of the loan. Subsequent changes to the allowance for credit losses are recorded through the provision for credit loss. The Company adopted ASC 326 using the prospective transition approach for debt securities for which other-than-temporary impairment had been recognized prior to January 1, 2020. As of December 31, 2019, the Company did not have any other-than-temporarily impaired investment securities. Therefore, upon adoption of ASC 326, the Company determined than an allowance for credit losses on available-for-sale securities was not deemed material. However, the Company evaluated the investment portfolio during the first quarter of 2020 and determined that an $842,000 provision for credit losses was necessary. No additional provision was deemed necessary during the remaining quarters of 2020 or the first three quarters of 2021. The following table illustrates the impact of the adoption of ASC 326 on the Company’s 2020 consolidated balance sheet. January 1, 2020 As Reported Under ASC 326 Pre-ASC 326 Adoption Impact of ASC 326 Adoption (In thousands) Assets: Allowance for credit losses on loans $ 146,110 $ 102,122 $ 43,988 Liabilities: Allowance for credit losses on OBS credit exposures (included in other liabilities) 15,521 — 15,521 |
Revenue Recognition | Revenue Recognition Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers • Service charges on deposit accounts – These represent general service fees for monthly account maintenance and activity or transaction-based fees and consist of transaction-based revenue, time-based revenue (service period), item-based revenue or some other individual attribute-based revenue. Revenue is recognized when our performance obligation is completed which is generally monthly for account maintenance services or when a transaction has been completed (such as a wire transfer). Payment for such performance obligations are generally received at the time the performance obligations are satisfied. • Other service charges and fees – These represent credit card interchange fees and Centennial Commercial Finance Group (“Centennial CFG”) loan fees. The interchange fees are recorded in the period the performance obligation is satisfied which is generally the cash basis based on agreed upon contracts. The Centennial CFG loan fees are based on loan or other negotiated agreements with customers and are accounted for under ASC Topic 310. |
Earnings per Share | Earnings per Share Basic earnings per share is computed based on the weighted-average number of shares outstanding during each year. Diluted earnings per share is computed using the weighted-average shares and all potential dilutive shares outstanding during the period. The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the following periods: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (In thousands) Net income $ 74,992 $ 69,320 $ 245,664 $ 132,654 Average shares outstanding 164,126 165,200 164,717 165,458 Effect of common stock options 477 — 333 — Average diluted shares outstanding 164,603 165,200 165,050 165,458 Basic earnings per share $ 0.46 $ 0.42 $ 1.49 $ 0.80 Diluted earnings per share $ 0.46 $ 0.42 $ 1.49 $ 0.80 As of September 30, 2020, options to purchase 3.3 million shares of common stock with a weighted average exercise price of $19.56 were excluded from the computation of diluted earnings per share as the majority of the options had an exercise price which was greater than the average market price of the common stock. |
Nature of Operations and Summ_3
Nature of Operations and Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Summary of Impact of Adoption of ASC 326 in Consolidated Balance Sheet | The following table illustrates the impact of the adoption of ASC 326 on the Company’s 2020 consolidated balance sheet. January 1, 2020 As Reported Under ASC 326 Pre-ASC 326 Adoption Impact of ASC 326 Adoption (In thousands) Assets: Allowance for credit losses on loans $ 146,110 $ 102,122 $ 43,988 Liabilities: Allowance for credit losses on OBS credit exposures (included in other liabilities) 15,521 — 15,521 |
Computation of Basic and Diluted Earnings per Common Share (EPS) | The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the following periods: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (In thousands) Net income $ 74,992 $ 69,320 $ 245,664 $ 132,654 Average shares outstanding 164,126 165,200 164,717 165,458 Effect of common stock options 477 — 333 — Average diluted shares outstanding 164,603 165,200 165,050 165,458 Basic earnings per share $ 0.46 $ 0.42 $ 1.49 $ 0.80 Diluted earnings per share $ 0.46 $ 0.42 $ 1.49 $ 0.80 |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Investments Debt And Equity Securities [Abstract] | |
Amortized Cost and Fair Value of Securities Available-for-Sale | The following table summarizes the amortized cost and fair value of securities available-for-sale and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss): September 30, 2021 Available-for-Sale Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Estimated Fair Value (In thousands) U.S. government-sponsored enterprises $ 439,181 $ 2,702 $ (1,720 ) $ 440,163 Residential mortgage-backed securities 1,198,016 6,812 (9,064 ) 1,195,764 Commercial mortgage-backed securities 403,840 10,656 (922 ) 413,574 State and political subdivisions 965,993 27,356 (2,205 ) 991,144 Other securities 109,216 1,137 (390 ) 109,963 Total $ 3,116,246 $ 48,663 $ (14,301 ) $ 3,150,608 December 31, 2020 Available-for-Sale Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Estimated Fair Value (In thousands) U.S. government-sponsored enterprises $ 325,860 $ 2,338 $ (1,207 ) $ 326,991 Residential mortgage-backed securities 703,138 10,607 (688 ) 713,057 Commercial mortgage-backed securities 446,964 18,048 (126 ) 464,886 State and political subdivisions 898,174 31,173 (1,454 ) 927,893 Other securities 40,755 434 (235 ) 40,954 Total $ 2,414,891 $ 62,600 $ (3,710 ) $ 2,473,781 |
Amortized Cost and Estimated Fair Value of Securities Contractual Maturity | The amortized cost and estimated fair value of securities classified as available-for-sale at September 30, 2021, by contractual maturity, are shown below. Expected maturities could differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately. Available-for-Sale Amortized Cost Estimated Fair Value (In thousands) Due in one year or less $ 9,391 $ 9,399 Due after one year through five years 78,839 79,824 Due after five years through ten years 348,801 350,567 Due after ten years 1,075,359 1,099,480 Mortgage - backed securities: Residential 1,198,016 1,195,764 Mortgage - backed securities: Commercial 403,840 413,574 Other 2,000 2,000 Total $ 3,116,246 $ 3,150,608 |
Unrealized Losses and Estimated Fair Value of Investment Securities Available for Sale | The following table shows gross unrealized losses and estimated fair value of investment securities classified as available-for-sale, aggregated by investment category and length of time that individual investment securities have been in a continuous loss position as of September 30, 2021 and December 31, 2020. September 30, 2021 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) U.S. government-sponsored enterprises $ 80,986 $ (1,015 ) $ 56,150 $ (705 ) $ 137,136 $ (1,720 ) Residential mortgage-backed securities 762,805 (8,216 ) 31,319 (848 ) 794,124 (9,064 ) Commercial mortgage-backed securities 81,615 (906 ) 6,245 (16 ) 87,860 (922 ) State and political subdivisions 149,056 (980 ) 16,887 (1,225 ) 165,943 (2,205 ) Other securities 41,421 (340 ) 4,263 (50 ) 45,684 (390 ) Total $ 1,115,883 $ (11,457 ) $ 114,864 $ (2,844 ) $ 1,230,747 $ (14,301 ) December 31, 2020 Less Than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In thousands) U.S. government-sponsored enterprises $ 54,611 $ (383 ) $ 95,249 $ (824 ) $ 149,860 $ (1,207 ) Residential mortgage-backed securities 143,458 (643 ) 4,900 (45 ) 148,358 (688 ) Commercial mortgage-backed securities 26,886 (126 ) — — 26,886 (126 ) State and political subdivisions 78,349 (1,454 ) — — 78,349 (1,454 ) Other securities 5,434 (100 ) 8,748 (135 ) 14,182 (235 ) Total $ 308,738 $ (2,706 ) $ 108,897 $ (1,004 ) $ 417,635 $ (3,710 ) |
Schedule of Allowance for Credit Losses on Investment Securities | September 30, 2021 December 31, 2020 (In thousands) Allowance for credit losses: Beginning balance $ 842 $ — Provision for credit loss - investment securities — 842 Balance, September 30 $ 842 $ 842 Provision for credit loss - investment securities — Balance, December 31, 2020 $ 842 |
Schedule of Income Earned on Available-for Sale Securities | Income earned on available-for sale securities for the three and nine months ended September 30, 2021 and 2020, is as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2021 2020 2021 2020 (In thousands) Taxable $ 8,495 $ 7,227 $ 21,933 $ 25,696 Non-taxable 4,839 4,367 14,815 11,179 Total $ 13,334 $ 11,594 $ 36,748 $ 36,875 |
Loans Receivable (Tables)
Loans Receivable (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Receivables [Abstract] | |
Summary of Various Categories of Loans Receivable | The various categories of loans receivable are summarized as follows: September 30, December 31, 2021 2020 (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 4,005,841 $ 4,429,060 Construction/land development 1,742,687 1,562,298 Agricultural 138,881 114,431 Residential real estate loans Residential 1-4 family 1,273,988 1,536,257 Multifamily residential 274,131 536,538 Total real estate 7,435,528 8,178,584 Consumer 814,732 864,690 Commercial and industrial 1,414,079 1,896,442 Agricultural 68,272 66,869 Other 168,489 214,136 Total loans receivable 9,901,100 11,220,721 Allowance for credit losses (238,673 ) (245,473 ) Loans receivable, net $ 9,662,427 $ 10,975,248 |
Allowance for Credit Losses, _2
Allowance for Credit Losses, Credit Quality and Other (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Text Block [Abstract] | |
Balance of Allowance for Credit Losses | The following tables present the activity in the allowance for credit losses for the three and nine months ended September 30, 2021: Three Months Ended September 30, 2021 Construction/ Land Development Other Commercial Real Estate Residential Real Estate Commercial & Industrial Consumer & Other Total (In thousands) Allowance for credit losses: Beginning balance $ 22,145 $ 93,127 $ 51,182 $ 52,282 $ 21,715 $ 240,451 Loans charged off — (9 ) (220 ) (1,682 ) (558 ) (2,469 ) Recoveries of loans previously charged off 8 44 388 80 171 691 Net loans recovered (charged off) 8 35 168 (1,602 ) (387 ) (1,778 ) Provision for credit losses 3,830 (4,664 ) (447 ) 1,922 (641 ) — Balance, September 30 $ 25,983 $ 88,498 $ 50,903 $ 52,602 $ 20,687 $ 238,673 Nine Months Ended September 30, 2021 Construction/ Land Development Other Commercial Real Estate Residential Real Estate Commercial & Industrial Consumer & Other Total (In thousands) Allowance for credit losses: Beginning balance $ 32,861 $ 88,453 $ 53,216 $ 46,530 $ 24,413 $ 245,473 Loans charged off — (646 ) (543 ) (5,892 ) (1,458 ) (8,539 ) Recoveries of loans previously charged off 47 112 554 382 644 1,739 Net loans recovered (charged off) 47 (534 ) 11 (5,510 ) (814 ) (6,800 ) Provision for credit losses (6,925 ) 579 (2,324 ) 11,582 (2,912 ) — Balance, September 30 $ 25,983 $ 88,498 $ 50,903 $ 52,602 $ 20,687 $ 238,673 The following tables present the balances in the allowance for credit losses for the nine-month period ended September 30, 2020 and the year ended December 31, 2020. Nine Months Ended September 30, 2020 and Year Ended December 31, 2020 Construction/ Land Development Other Commercial Real Estate Residential Real Estate Commercial & Industrial Consumer & Other Total (In thousands) Allowance for credit losses: Beginning balance $ 26,433 $ 33,529 $ 20,135 $ 16,615 $ 5,410 $ 102,122 Impact of adoption ASC 326 (5,296 ) 15,912 16,680 11,584 5,108 43,988 Allowance for credit losses on PCD loans — — — — 357 357 Loans charged off (443 ) (3,003 ) (450 ) (6,207 ) (1,343 ) (11,446 ) Recoveries of loans previously charged off 94 614 305 142 626 1,781 Net loans charged off (349 ) (2,389 ) (145 ) (6,065 ) (717 ) (9,665 ) Provision for credit loss - loans 18,027 50,912 8,550 18,023 6,601 102,113 Provision for credit loss - acquired loans — — — — 9,309 9,309 Balance, September 30 38,815 97,964 45,220 40,157 26,068 248,224 Loans charged off (775 ) (38 ) (35 ) (1,557 ) (635 ) (3,040 ) Recoveries of loans previously charged off 13 33 32 76 135 289 Net loans charged off (762 ) (5 ) (3 ) (1,481 ) (500 ) (2,751 ) Provision for credit loss - loans (5,192 ) (9,506 ) 7,999 7,854 (1,155 ) — Balance, December 31 $ 32,861 $ 88,453 $ 53,216 $ 46,530 $ 24,413 $ 245,473 |
Amortized Cost Basis of Loans on Nonaccrual Status and Loans Past Due Over 90 Days Still Accruing | The following table presents the amortized cost basis of loans on nonaccrual status and loans past due over 90 days still accruing as of September 30, 2021 and December 31, 2020: September 30, 2021 Nonaccrual Nonaccrual with Reserve Loans Past Due Over 90 Days Still Accruing (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 8,819 $ 2,244 $ 2,413 Construction/land development 1,870 — — Agricultural 743 — — Residential real estate loans Residential 1-4 family 17,495 2,984 855 Multifamily residential 161 — — Total real estate 29,088 5,228 3,268 Consumer 1,921 — 2 Commercial and industrial 15,989 4,272 41 Agricultural & other 606 — — Total $ 47,604 $ 9,500 $ 3,311 December 31, 2020 Nonaccrual Nonaccrual with Reserve Loans Past Due Over 90 Days Still Accruing (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 20,947 $ 6,794 $ 6,088 Construction/land development 1,381 2,089 1,296 Agricultural 879 — — Residential real estate loans Residential 1-4 family 19,334 3,000 1,821 Multifamily residential 173 — — Total real estate 42,714 11,883 9,205 Consumer 3,506 — 174 Commercial and industrial 17,251 — 231 Agricultural & other 1,057 — — Total $ 64,528 $ 11,883 $ 9,610 |
Amortized Cost Basis of Collateral-dependent Impaired Loans | The following table presents the amortized cost basis of collateral-dependent impaired loans by class of loans as of September 30, 2021 and December 31, 2020: September 30, 2021 Commercial Residential Real Estate Real Estate Other (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 249,783 $ — $ — Construction/land development 5,201 — — Agricultural 743 — — Residential real estate loans Residential 1-4 family — 21,393 — Multifamily residential — 161 — Total real estate 255,727 21,554 — Consumer — — 1,936 Commercial and industrial — — 20,264 Agricultural & other — — 607 Total $ 255,727 $ 21,554 $ 22,807 December 31, 2020 Commercial Residential Real Estate Real Estate Other (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 47,429 $ — $ — Construction/land development 6,012 — — Agricultural 879 — — Residential real estate loans Residential 1-4 family — 32,413 — Multifamily residential — 173 — Total real estate 54,320 32,586 — Consumer — — 3,694 Commercial and industrial — — 21,027 Agricultural & other — — 1,057 Total $ 54,320 $ 32,586 $ 25,778 |
Summary of Aging Analysis for Loans Receivable | The following is an aging analysis for loans receivable as of September 30, 2021 and December 31, 2020: September 30, 2021 Loans Past Due 30-59 Days Loans Past Due 60-89 Days Loans Past Due 90 Days or More Total Past Due Current Loans Total Loans Receivable Accruing Loans Past Due 90 Days or More (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 2,213 $ — $ 11,232 $ 13,445 $ 3,992,396 $ 4,005,841 $ 2,413 Construction/land development 66 171 1,870 2,107 1,740,580 1,742,687 — Agricultural 434 295 743 1,472 137,409 138,881 — Residential real estate loans — Residential 1-4 family 2,452 3,072 18,350 23,874 1,250,114 1,273,988 855 Multifamily residential — — 161 161 273,970 274,131 — Total real estate 5,165 3,538 32,356 41,059 7,394,469 7,435,528 3,268 Consumer 401 12 1,923 2,336 812,396 814,732 2 Commercial and industrial 752 592 16,030 17,374 1,396,705 1,414,079 41 Agricultural & other 619 1 606 1,226 235,535 236,761 — Total $ 6,937 $ 4,143 $ 50,915 $ 61,995 $ 9,839,105 $ 9,901,100 $ 3,311 December 31, 2020 Loans Past Due 30-59 Days Loans Past Due 60-89 Days Loans Past Due 90 Days or More Total Past Due Current Loans Total Loans Receivable Accruing Loans Past Due 90 Days or More (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential $ 3,856 $ 68 $ 27,035 $ 30,959 $ 4,398,101 $ 4,429,060 $ 6,088 Construction/land development 178 44 2,677 $ 2,899 1,559,399 1,562,298 1,296 Agricultural 522 — 879 1,401 113,030 114,431 — Residential real estate loans Residential 1-4 family 4,833 7,787 21,155 33,775 1,502,482 1,536,257 1,821 Multifamily residential 111 — 173 284 536,254 536,538 — Total real estate 9,500 7,899 51,919 69,318 8,109,266 8,178,584 9,205 Consumer 2,899 802 3,680 7,381 857,309 864,690 174 Commercial and industrial 960 515 17,482 18,957 1,877,485 1,896,442 231 Agricultural and other 1,125 3,713 1,057 5,895 275,110 281,005 — Total $ 14,484 $ 12,929 $ 74,138 $ 101,551 $ 11,119,170 $ 11,220,721 $ 9,610 |
Presentation of Classified Loans by Class and Risk Rating | Based on the most recent analysis performed, the risk category of loans by class of loans as of September 30, 2021 and December 31, 2020 is as follows: September 30, 2021 Term Loans Amortized Cost Basis by Origination Year 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential Risk rating 1 $ — $ — $ — $ — $ — $ — $ — $ — Risk rating 2 — — — — — — 209,027 209,027 Risk rating 3 182,402 280,163 314,000 396,848 247,852 981,970 68,510 2,471,745 Risk rating 4 106,983 35,274 120,584 257,933 112,120 358,937 87 991,918 Risk rating 5 — 10,825 2,308 20,791 37,848 197,539 — 269,311 Risk rating 6 — — 15,219 1,803 11,939 34,797 — 63,758 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — 82 — 82 Total non-farm/non-residential 289,385 326,262 452,111 677,375 409,759 1,573,325 277,624 4,005,841 Construction/land development Risk rating 1 $ — $ — $ — $ — $ — $ — $ — $ — Risk rating 2 — — — — — 235 — 235 Risk rating 3 150,620 228,246 100,935 33,933 23,005 42,863 166,151 745,753 Risk rating 4 117,314 215,084 501,761 45,824 40,377 39,461 23,650 983,471 Risk rating 5 — — 416 — — 1,177 1 1,594 Risk rating 6 — 115 874 8 — 10,636 — 11,633 Risk rating 7 — — — — — — — — Risk rating 8 — — — — 1 — — 1 Total construction/land development 267,934 443,445 603,986 79,765 63,383 94,372 189,802 1,742,687 Agricultural Risk rating 1 $ — $ — $ — $ — $ — $ — $ — $ — Risk rating 2 — — — — — — — — Risk rating 3 18,093 30,708 8,005 6,673 5,412 21,538 6,616 97,045 Risk rating 4 4,389 2,120 367 1,164 771 30,233 1,388 40,432 Risk rating 5 — — — — — — — — Risk rating 6 — 45 — — — 1,359 — 1,404 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — — — — Total agricultural 22,482 32,873 8,372 7,837 6,183 53,130 8,004 138,881 Total commercial real estate loans $ 579,801 $ 802,580 $ 1,064,469 $ 764,977 $ 479,325 $ 1,720,827 $ 475,430 $ 5,887,409 Residential real estate loans Residential 1-4 family Risk rating 1 $ — $ — $ — $ — $ — $ 80 $ 90 $ 170 Risk rating 2 — — — — — 29 — 29 Risk rating 3 173,712 153,260 140,787 111,458 89,445 324,888 86,267 1,079,817 Risk rating 4 8,346 4,250 6,071 17,677 23,144 60,710 30,830 151,028 Risk rating 5 — — 3,064 1,506 529 5,114 197 10,410 Risk rating 6 788 2,003 2,406 1,931 1,525 16,914 6,933 32,500 Risk rating 7 — — — — — — — — Risk rating 8 — — — — 6 28 — 34 Total residential 1-4 family 182,846 159,513 152,328 132,572 114,649 407,763 124,317 1,273,988 Multifamily residential Risk rating 1 $ — $ — $ — $ — $ — $ — $ — $ — Risk rating 2 — — — — — — — — Risk rating 3 8,496 10,243 35,143 34,974 9,825 46,473 7,782 152,936 Risk rating 4 — 11,271 27,202 3,435 3,009 21,128 37,047 103,092 Risk rating 5 — — — 7,621 8,170 — — 15,791 Risk rating 6 — — — — 897 1,415 — 2,312 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — — — — Total multifamily residential 8,496 21,514 62,345 46,030 21,901 69,016 44,829 274,131 Total real estate $ 771,143 $ 983,607 $ 1,279,142 $ 943,579 $ 615,875 $ 2,197,606 $ 644,576 $ 7,435,528 September 30, 2021 Term Loans Amortized Cost Basis by Origination Year, Continued 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total (In thousands) Consumer Risk rating 1 $ 2,930 $ 2,109 $ 1,556 $ 1,064 $ 259 $ 1,777 $ 1,753 $ 11,448 Risk rating 2 — — 45 647 — 9 — 701 Risk rating 3 153,432 189,046 147,510 116,833 72,351 102,108 6,801 788,081 Risk rating 4 2,993 1,107 3,110 1,908 185 2,407 74 11,784 Risk rating 5 — 116 — 99 172 134 — 521 Risk rating 6 — 46 347 120 — 1,641 41 2,195 Risk rating 7 — — — — — — — — Risk rating 8 — — — — 1 1 — 2 Total consumer 159,355 192,424 152,568 120,671 72,968 108,077 8,669 814,732 Commercial and industrial Risk rating 1 $ 210,222 $ 28,846 $ 371 $ 157 $ 169 $ 21,457 $ 11,885 $ 273,107 Risk rating 2 19 19 — — 87 280 175 580 Risk rating 3 75,240 77,113 95,166 52,322 25,516 55,060 148,891 529,308 Risk rating 4 132,855 35,907 107,294 98,787 35,085 37,893 75,883 523,704 Risk rating 5 6,197 158 2,019 8,387 5,725 3,077 672 26,235 Risk rating 6 1,222 15,430 6,736 25,441 5,570 4,633 330 59,362 Risk rating 7 — — — 1,777 — — — 1,777 Risk rating 8 — 2 1 — — 1 2 6 Total commercial and industrial 425,755 157,475 211,587 186,871 72,152 122,401 237,838 1,414,079 Agricultural and other Risk rating 1 $ 11,231 $ 203 $ 43 $ — $ — $ 112 $ 375 $ 11,964 Risk rating 2 — — 3,467 — — 908 809 5,184 Risk rating 3 58,313 60,137 5,395 7,572 2,187 50,145 14,162 197,911 Risk rating 4 6,034 376 157 1,542 1,408 1,487 9,441 20,445 Risk rating 5 — — — — — 597 — 597 Risk rating 6 — — 27 14 33 586 — 660 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — — — — Total agricultural and other 75,578 60,716 9,089 9,128 3,628 53,835 24,787 236,761 Total $ 1,431,831 $ 1,394,222 $ 1,652,386 $ 1,260,249 $ 764,623 $ 2,481,919 $ 915,870 $ 9,901,100 December 31, 2020 Term Loans Amortized Cost Basis by Origination Year 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Total (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential Risk rating 1 $ — $ — $ — $ — $ — $ — $ — $ — Risk rating 2 — — — — — — 25 25 Risk rating 3 301,237 340,562 546,670 286,173 289,483 942,449 266,867 2,973,441 Risk rating 4 27,239 139,354 161,461 265,684 197,979 300,055 17,305 1,109,077 Risk rating 5 10,591 16,865 67,089 7,764 108,885 84,609 750 296,553 Risk rating 6 — 859 2,289 987 4,577 40,600 86 49,398 Risk rating 7 — — — — — 552 — 552 Risk rating 8 — — — — — 14 — 14 Total non-farm/non-residential 339,067 497,640 777,509 560,608 600,924 1,368,279 285,033 4,429,060 Construction/land development Risk rating 1 $ — $ — $ — $ — $ — $ — $ — $ — Risk rating 2 — — — — — 283 — 283 Risk rating 3 211,567 181,257 91,323 33,986 25,600 54,245 115,120 713,098 Risk rating 4 129,599 417,737 92,032 46,249 17,161 32,060 76,845 811,683 Risk rating 5 — — 392 21,892 — 1,227 545 24,056 Risk rating 6 — 763 98 63 157 12,065 — 13,146 Risk rating 7 — — — — — — — — Risk rating 8 — — — 1 — 31 — 32 Total construction/land development 341,166 599,757 183,845 102,191 42,918 99,911 192,510 1,562,298 Agricultural Risk rating 1 $ — $ — $ — $ — $ — $ — $ — $ — Risk rating 2 — — — — — — — — Risk rating 3 33,428 8,885 9,119 5,397 3,935 25,159 5,538 91,461 Risk rating 4 2,141 535 1,206 681 5,499 10,735 665 21,462 Risk rating 5 — — — — — 116 — 116 Risk rating 6 47 — — — — 1,345 — 1,392 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — — — — Total agricultural 35,616 9,420 10,325 6,078 9,434 37,355 6,203 114,431 Total commercial real estate loans $ 715,849 $ 1,106,817 $ 971,679 $ 668,877 $ 653,276 $ 1,505,545 $ 483,746 $ 6,105,789 Residential real estate loans Residential 1-4 family Risk rating 1 $ — $ 47 $ — $ — $ 76 $ 12 $ 120 $ 255 Risk rating 2 — — — — — 423 1,540 1,963 Risk rating 3 237,991 184,578 151,478 139,096 119,642 343,381 119,186 1,295,352 Risk rating 4 4,626 12,716 32,594 20,687 16,148 68,328 30,137 185,236 Risk rating 5 — — 1,363 4,700 383 5,344 516 12,306 Risk rating 6 554 5,973 829 2,084 3,222 18,074 10,257 40,993 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — 8 144 152 Total residential 1-4 family 243,171 203,314 186,264 166,567 139,471 435,570 161,900 1,536,257 Multifamily residential Risk rating 1 $ — $ — $ — $ — $ — $ — $ — $ — Risk rating 2 — — — — — — — — Risk rating 3 19,033 60,175 87,104 11,477 8,092 59,592 6,386 251,859 Risk rating 4 477 6,358 101,364 93,475 1,924 17,672 37,286 258,556 Risk rating 5 — — — — — 24,945 — 24,945 Risk rating 6 — — — 894 — 284 — 1,178 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — — — — Total multifamily residential 19,510 66,533 188,468 105,846 10,016 102,493 43,672 536,538 Total real estate $ 978,530 $ 1,376,664 $ 1,346,411 $ 941,290 $ 802,763 $ 2,043,608 $ 689,318 $ 8,178,584 December 31, 2020 Term Loans Amortized Cost Basis by Origination Year, Continued 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Total (In thousands) Consumer Risk rating 1 $ 3,389 $ 2,375 $ 1,596 $ 485 $ 828 $ 1,428 $ 1,957 $ 12,058 Risk rating 2 — 47 931 — — 12 57 1,047 Risk rating 3 229,189 192,054 152,646 97,812 68,585 68,871 20,094 829,251 Risk rating 4 3,699 3,479 2,769 1,411 1,371 1,991 117 14,837 Risk rating 5 144 737 22 198 568 321 — 1,990 Risk rating 6 12 361 566 3 2,052 2,468 45 5,507 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — — — — Total consumer 236,433 199,053 158,530 99,909 73,404 75,091 22,270 864,690 Commercial and industrial Risk rating 1 $ 632,735 $ 506 $ 271 $ 183 $ 20,199 $ 1,445 $ 10,023 $ 665,362 Risk rating 2 29 187 2 96 67 623 268 1,272 Risk rating 3 80,586 131,717 62,814 35,651 39,502 52,743 135,590 538,603 Risk rating 4 68,032 144,867 149,445 42,416 15,138 43,065 115,341 578,304 Risk rating 5 3,195 16,341 11,283 346 251 448 10,637 42,501 Risk rating 6 1,261 4,086 30,834 22,992 2,615 5,198 3,405 70,391 Risk rating 7 — 3 — — — — — 3 Risk rating 8 1 — 1 — 4 — — 6 Total commercial and industrial 785,839 297,707 254,650 101,684 77,776 103,522 275,264 1,896,442 Agricultural and other Risk rating 1 $ 59,248 $ 51 $ 53 $ — $ 110 $ 27 $ 1,036 $ 60,525 Risk rating 2 16 4,571 — — — 2,859 1,159 8,605 Risk rating 3 78,305 7,045 5,050 5,045 18,445 36,925 42,401 193,216 Risk rating 4 1,043 5,041 1,592 1,096 895 1,703 4,600 15,970 Risk rating 5 — — — — — 605 — 605 Risk rating 6 — 219 18 — 223 1,624 — 2,084 Risk rating 7 — — — — — — — — Risk rating 8 — — — — — — — — Total agricultural and other 138,612 16,927 6,713 6,141 19,673 43,743 49,196 281,005 Total $ 2,139,414 $ 1,890,351 $ 1,766,304 $ 1,149,024 $ 973,616 $ 2,265,964 $ 1,036,048 $ 11,220,721 The Company considers the performance of the loan portfolio and its impact on the allowance for credit losses. The Company also evaluates credit quality based on the aging status of the loan, which was previously presented and by payment activity. The following tables present the amortized cost of performing and nonperforming loans as of September 30, 2021 and December 31, 2020. September 30, 2021 Term Loans Amortized Cost Basis by Origination Year 2021 2020 2019 2018 2017 Prior Revolving Loans Amortized Cost Basis Total (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential Performing $ 289,385 $ 316,115 $ 437,231 $ 657,174 $ 371,874 $ 1,406,655 $ 277,624 $ 3,756,058 Non-performing — 10,147 14,880 20,201 37,885 166,670 — 249,783 Total non-farm/ non-residential 289,385 326,262 452,111 677,375 409,759 1,573,325 277,624 4,005,841 Construction/land development Performing $ 267,934 $ 443,330 $ 602,793 $ 79,757 $ 63,382 $ 90,488 $ 189,802 $ 1,737,486 Non-performing — 115 1,193 8 1 3,884 — 5,201 Total construction/ land development 267,934 443,445 603,986 79,765 63,383 94,372 189,802 1,742,687 Agricultural Performing $ 22,482 $ 32,873 $ 8,372 $ 7,837 $ 6,183 $ 52,387 $ 8,004 $ 138,138 Non-performing — — — — — 743 — 743 Total agricultural 22,482 32,873 8,372 7,837 6,183 53,130 8,004 138,881 Total commercial real estate loans $ 579,801 $ 802,580 $ 1,064,469 $ 764,977 $ 479,325 $ 1,720,827 $ 475,430 $ 5,887,409 Residential real estate loans Residential 1-4 family Performing $ 182,588 $ 156,843 $ 150,130 $ 131,375 $ 113,265 $ 400,128 $ 118,266 $ 1,252,595 Non-performing 258 2,670 2,198 1,197 1,384 7,635 6,051 21,393 Total residential 1-4 family 182,846 159,513 152,328 132,572 114,649 407,763 124,317 1,273,988 Multifamily residential Performing $ 8,496 $ 21,514 $ 62,345 $ 46,030 $ 21,901 $ 68,855 $ 44,829 $ 273,970 Non-performing — — — — — 161 — 161 Total multifamily residential 8,496 21,514 62,345 46,030 21,901 69,016 44,829 274,131 Total real estate $ 771,143 $ 983,607 $ 1,279,142 $ 943,579 $ 615,875 $ 2,197,606 $ 644,576 $ 7,435,528 Consumer Performing $ 159,355 $ 192,386 $ 152,253 $ 120,554 $ 72,967 $ 106,619 $ 8,662 $ 812,796 Non-performing — 38 315 117 1 1,458 7 1,936 Total consumer 159,355 192,424 152,568 120,671 72,968 108,077 8,669 814,732 Commercial and industrial Performing $ 425,755 $ 157,273 $ 207,163 $ 177,113 $ 69,338 $ 119,460 $ 237,713 $ 1,393,815 Non-performing — 202 4,424 9,758 2,814 2,941 125 20,264 Total commercial and industrial 425,755 157,475 211,587 186,871 72,152 122,401 237,838 1,414,079 Agricultural and other Performing $ 75,578 $ 60,716 $ 9,062 $ 8,859 $ 3,595 $ 53,566 $ 24,778 $ 236,154 Non-performing — — 27 269 33 269 9 607 Total agricultural and other 75,578 60,716 9,089 9,128 3,628 53,835 24,787 236,761 Total $ 1,431,831 $ 1,394,222 $ 1,652,386 $ 1,260,249 $ 764,623 $ 2,481,919 $ 915,870 $ 9,901,100 December 31, 2020 Term Loans Amortized Cost Basis by Origination Year 2020 2019 2018 2017 2016 Prior Revolving Loans Amortized Cost Basis Total (In thousands) Real estate: Commercial real estate loans Non-farm/non-residential Performing $ 339,067 $ 497,640 $ 775,220 $ 560,279 $ 598,074 $ 1,326,404 $ 284,947 $ 4,381,631 Non-performing — — 2,289 329 2,850 41,875 86 47,429 Total non-farm/ non-residential 339,067 497,640 777,509 560,608 600,924 1,368,279 285,033 4,429,060 Construction/land development Performing $ 341,166 $ 598,995 $ 183,821 $ 102,127 $ 42,779 $ 94,888 $ 192,510 $ 1,556,286 Non-performing — 762 24 64 139 5,023 — 6,012 Total construction/ land development 341,166 599,757 183,845 102,191 42,918 99,911 192,510 1,562,298 Agricultural Performing $ 35,616 $ 9,420 $ 10,325 $ 6,078 $ 9,434 $ 36,476 $ 6,203 $ 113,552 Non-performing — — — — — 879 — 879 Total agricultural 35,616 9,420 10,325 6,078 9,434 37,355 6,203 114,431 Total commercial real estate loans $ 715,849 $ 1,106,817 $ 971,679 $ 668,877 $ 653,276 $ 1,505,545 $ 483,746 $ 6,105,789 Residential real estate loans Residential 1-4 family Performing $ 242,505 $ 196,951 $ 185,316 $ 161,274 $ 137,840 $ 425,056 $ 154,902 $ 1,503,844 Non-performing 666 6,363 948 5,293 1,631 10,514 6,998 32,413 Total residential 1-4 family 243,171 203,314 186,264 166,567 139,471 435,570 161,900 1,536,257 Multifamily residential Performing $ 19,510 $ 66,533 $ 188,468 $ 105,846 $ 10,016 $ 102,320 $ 43,672 $ 536,365 Non-performing — — — — — 173 — 173 Total multifamily residential 19,510 66,533 188,468 105,846 10,016 102,493 43,672 536,538 Total real estate $ 978,530 $ 1,376,664 $ 1,346,411 $ 941,290 $ 802,763 $ 2,043,608 $ 689,318 $ 8,178,584 Consumer Performing $ 236,395 $ 198,737 $ 158,324 $ 99,905 $ 71,924 $ 73,448 $ 22,263 $ 860,996 Non-performing 38 316 206 4 1,480 1,643 7 3,694 Total consumer 236,433 199,053 158,530 99,909 73,404 75,091 22,270 864,690 Commercial and industrial Performing $ 785,776 $ 293,938 $ 246,177 $ 98,664 $ 76,427 $ 100,050 $ 274,383 $ 1,875,415 Non-performing 63 3,769 8,473 3,020 1,349 3,472 881 21,027 Total commercial and industrial 785,839 297,707 254,650 101,684 77,776 103,522 275,264 1,896,442 Agricultural and other Performing $ 138,612 $ 16,927 $ 6,695 $ 6,141 $ 19,450 $ 42,927 $ 49,196 $ 279,948 Non-performing — — 18 — 223 816 — 1,057 Total agricultural and other 138,612 16,927 6,713 6,141 19,673 43,743 49,196 281,005 Total $ 2,139,414 $ 1,890,351 $ 1,766,304 $ 1,149,024 $ 973,616 $ 2,265,964 $ 1,036,048 $ 11,220,721 |
Presentation of Troubled Debt Restructurings ("TDRs") by Class | The following is a presentation of troubled debt restructurings (“TDRs”) by class as of September 30, 2021 and December 31, 2020: September 30, 2021 Number of Loans Pre- Modification Outstanding Balance Rate Modification Term Modification Rate & Term Modification Post- Modification Outstanding Balance (Dollars in thousands) Real estate: Commercial real estate loans Non-farm/non-residential 12 $ 6,119 $ 3,666 $ 628 $ 87 $ 4,381 Construction/land development 3 322 216 2 — 218 Agricultural 1 282 262 — — 262 Residential real estate loans Residential 1-4 family 18 2,495 953 157 374 1,484 Total real estate 34 9,218 5,097 787 461 6,345 Consumer 4 22 14 — 3 17 Commercial and industrial 9 2,354 201 87 78 366 Total 47 $ 11,594 $ 5,312 $ 874 $ 542 $ 6,728 December 31, 2020 Number of Loans Pre- Modification Outstanding Balance Rate Modification Term Modification Rate & Term Modification Post- Modification Outstanding Balance (Dollars in thousands) Real estate: Commercial real estate loans Non-farm/non-residential 14 $ 11,510 $ 4,350 $ 383 $ 4,723 $ 9,456 Construction/land development 2 58 — 7 9 16 Agricultural 1 282 267 — — 267 Residential real estate loans Residential 1-4 family 21 2,913 1,441 165 431 2,037 Total real estate 38 14,763 6,058 555 5,163 11,776 Consumer 1 17 14 — — 14 Commercial and industrial 12 2,470 308 127 91 526 Total 51 $ 17,250 $ 6,380 $ 682 $ 5,254 $ 12,316 |
Presentation of TDR's on Non-Accrual Status | The following is a presentation of TDRs on non-accrual status as of September 30, 2021 and December 31, 2020 because they are not in compliance with the modified terms: September 30, 2021 December 31, 2020 Number of Loans Recorded Balance Number of Loans Recorded Balance (Dollars in thousands) Real estate: Commercial real estate loans Non-farm/non-residential 2 $ 9 2 $ 350 Construction/land development 2 216 1 9 Agricultural 1 262 1 267 Residential real estate loans Residential 1-4 family 6 405 7 547 Total real estate 11 892 11 1,173 Consumer 3 3 — — Commercial and industrial 6 254 8 414 Total 20 $ 1,149 19 $ 1,587 |
Summary of Total Foreclosed Assets | The following is a presentation of total foreclosed assets as of September 30, 2021 and December 31, 2020: September 30, 2021 December 31, 2020 (In thousands) Commercial real estate loans Non-farm/non-residential $ 261 $ 438 Construction/land development 835 3,189 Residential real estate loans Residential 1-4 family 75 793 Total foreclosed assets held for sale $ 1,171 $ 4,420 |
Goodwill and Core Deposits an_2
Goodwill and Core Deposits and Other Intangibles (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Summary of Changes in Carrying Amount and Accumulated Amortization of Company's Goodwill and Core Deposits and Other Intangibles | Changes in the carrying amount and accumulated amortization of the Company’s goodwill and core deposits and other intangibles at September 30, 2021 and December 31, 2020, were as follows: September 30, 2021 December 31, 2020 (In thousands) Goodwill Balance, beginning of period $ 973,025 $ 958,408 Acquisitions — 14,617 Balance, end of period $ 973,025 $ 973,025 September 30, 2021 December 31, 2020 (In thousands) Core Deposit and Other Intangibles Balance, beginning of period $ 30,728 $ 36,572 Amortization expense (4,262 ) (4,423 ) Balance, September 30 26,466 32,149 Amortization expense (1,421 ) Balance, end of year $ 30,728 |
Summary of Carrying Amount and Accumulated Amortization of Core Deposits and Other Intangibles | The carrying basis and accumulated amortization of core deposits and other intangibles at September 30, 2021 and December 31, 2020 were : September 30, 2021 December 31, 2020 (In thousands) Gross carrying basis $ 86,625 $ 86,625 Accumulated amortization (60,159 ) (55,897 ) Net carrying amount $ 26,466 $ 30,728 |
Securities Sold Under Agreeme_2
Securities Sold Under Agreements to Repurchase (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Brokers And Dealers [Abstract] | |
Summary of Remaining Contractual Maturity of Securities Sold Under Agreements to Repurchase | The remaining contractual maturity of securities sold under agreements to repurchase in the consolidated balance sheets as of September 30, 2021 and December 31, 2020 is presented in the following tables: September 30, 2021 Overnight and Continuous Up to 30 Days 30-90 Days Greater than 90 Days Total (In thousands) Securities sold under agreements to repurchase: U.S. government-sponsored enterprises $ 8,753 $ — $ — $ — $ 8,753 Mortgage-backed securities 7,979 — — — 7,979 State and political subdivisions 121,412 — — — 121,412 Other securities 2,858 — — — 2,858 Total borrowings $ 141,002 $ — $ — $ — $ 141,002 December 31, 2020 Overnight and Continuous Up to 30 Days 30-90 Days Greater than 90 Days Total (In thousands) Securities sold under agreements to repurchase: U.S. government-sponsored enterprises $ 11,166 $ — $ — $ — $ 11,166 Mortgage-backed securities 18,830 — — — 18,830 State and political subdivisions 135,308 — — — 135,308 Other securities 3,627 — — — 3,627 Total borrowings $ 168,931 $ — $ — $ — $ 168,931 |
Subordinated Debentures (Tables
Subordinated Debentures (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Debt Disclosure [Abstract] | |
Preferred Trust Securities and Subordinated Debentures | Subordinated debentures at September 30, 2021 and December 31, 2020 consisted of subordinated debt securities and guaranteed payments on trust preferred securities with the following components: As of September 30, As of December 31, 2021 2020 (In thousands) Trust preferred securities Subordinated debentures, issued in 2006, due 2036, fixed rate of 6.75% during the first five years and at a floating rate of 1.85% three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty $ 3,093 $ 3,093 Subordinated debentures, issued in 2004, due 2034, fixed rate of 6.00% during the first five years and at a floating rate of 2.00% three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty 15,464 15,464 Subordinated debentures, issued in 2005, due 2035, fixed rate of 5.84% during the first five years and at a floating rate of 1.45% three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty 25,774 25,774 Subordinated debentures, issued in 2004, due 2034, fixed rate of 4.29% during the first five years and at a floating rate of 2.50% three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty 16,495 16,495 Subordinated debentures, issued in 2005, due 2035, floating rate of 2.15% above the three-month LIBOR rate, reset quarterly, currently callable without penalty 4,489 4,452 Subordinated debentures, issued in 2006, due 2036, fixed rate of 7.38% during the first five years and at a floating rate of 1.62% three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty 5,919 5,849 Subordinated debt securities Subordinated notes, net of issuance costs, issued in 2017, due 2027, fixed rate of 5.625% 3.575% thereafter, callable in 2022 without penalty 299,666 299,199 Total $ 370,900 $ 370,326 |
Income Taxes (Tables)
Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Income Tax Disclosure [Abstract] | |
Summary of Components of Provision (Benefit) for Income Taxes | The following is a summary of the components of the provision (benefit) for income taxes for the three and nine months ended September 30, 2021 and 2020: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2021 2020 2021 2020 (In thousands) Current: Federal $ 14,693 $ 16,271 $ 52,771 $ 57,154 State 4,864 5,386 17,470 18,921 Total current 19,557 21,657 70,241 76,075 Deferred: Federal 2,744 (451 ) 5,211 (29,071 ) State 908 (149 ) 1,725 (9,624 ) Total deferred 3,652 (600 ) 6,936 (38,695 ) Income tax expense $ 23,209 $ 21,057 $ 77,177 $ 37,380 |
Reconciliation between Statutory Federal Income Tax Rate and Effective Income Tax Rate | The reconciliation between the statutory federal income tax rate and effective income tax rate is as follows for the three and nine months ended September 30, 2021 and 2020: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Statutory federal income tax rate 21.00 % 21.00 % 21.00 % 21.00 % Effect of non-taxable interest income (1.08 ) (1.03 ) (1.00 ) (1.48 ) Stock compensation 0.16 1.17 0.23 0.53 State income taxes, net of federal benefit 3.50 3.82 4.00 3.00 Executive officer compensation & other 0.05 (1.66 ) (0.32 ) (1.07 ) Effective income tax rate 23.63 % 23.30 % 23.91 % 21.98 % |
Differences between Tax Basis of Assets and Liabilities | The types of temporary differences between the tax basis of assets and liabilities and their financial reporting amounts that give rise to deferred income tax assets and liabilities, and their approximate tax effects, are as follows: September 30, 2021 December 31, 2020 (In thousands) Deferred tax assets: Allowance for credit losses $ 69,135 $ 72,445 Deferred compensation 4,751 4,741 Stock compensation 5,475 4,768 Non-accrual interest income 853 775 Real estate owned 109 620 Loan discounts 4,151 6,806 Tax basis premium/discount on acquisitions 3,693 5,101 Investments 273 502 Deposits (57 ) (33 ) Other 5,259 5,855 Gross deferred tax assets 93,642 101,580 Deferred tax liabilities: Accelerated depreciation on premises and equipment 264 1,929 Unrealized gain on securities 9,735 15,072 Core deposit intangibles 6,066 7,056 FHLB dividends 2,807 2,711 Other 5,046 4,563 Gross deferred tax liabilities 23,918 31,331 Net deferred tax assets $ 69,724 $ 70,249 |
Common Stock, Compensation Pl_2
Common Stock, Compensation Plans and Other (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Equity [Abstract] | |
Summary of Stock Option Transactions under Plan | The table below summarizes the stock option transactions under the Plan at September 30, 2021 and December 31, 2020 and changes during the nine-month period and year then ended : For the Nine Months Ended September 30, 2021 For the Year Ended December 31, 2020 Shares (000) Weighted- Average Exercisable Price Shares (000) Weighted- Average Exercisable Price Outstanding, beginning of year 3,254 $ 19.77 3,411 $ 19.60 Granted 15 21.68 — — Forfeited/Expired (47 ) 22.25 (76 ) 21.95 Exercised (181 ) 15.27 (81 ) 10.61 Outstanding, end of period 3,041 20.01 3,254 19.77 Exercisable, end of period 1,552 $ 17.37 1,537 $ 16.82 |
Summary of Stock Options on Valuation Assumptions | The assumptions used in determining the fair value of the 2021 and 2020 stock option grants were as follows: For the Nine Months Ended September 30, 2021 For the Year Ended December 31, 2020 Expected dividend yield 2.59 % Not Applicable Expected stock price volatility 70.13 % Not Applicable Risk-free interest rate 0.75 % Not Applicable Expected life of options 6.5 years Not Applicable |
Summary of Currently Outstanding and Exercisable Options | The following is a summary of currently outstanding and exercisable options at September 30, 2021: Options Outstanding Options Exercisable Exercise Prices Options Outstanding Shares (000) Weighted- Average Remaining Contractual Life (in years) Weighted- Average Exercise Price Options Exercisable Shares (000) Weighted- Average Exercise Price $6.56 to $8.62 164 1.15 $ 8.32 164 $ 8.32 $9.54 to $14.71 140 2.80 13.23 140 13.23 $16.77 to $16.86 130 2.89 16.80 130 16.80 $17.12 to $17.36 102 3.47 17.14 102 17.14 $17.40 to $18.46 871 3.88 18.45 738 18.45 $18.50 to $20.16 41 7.53 19.05 14 19.04 $20.58 to $21.25 158 4.51 21.08 143 21.12 $21.31 to $22.22 112 6.85 22.18 60 22.22 $22.70 to $23.32 1,242 6.81 23.32 1 22.70 $23.51 to $25.96 81 5.72 25.63 60 25.81 3,041 1,552 |
Summary of Company's Restricted Stock Issued and Outstanding | The table below summarized the activity for the Company’s restricted stock issued and outstanding at September 30, 2021 and December 31, 2020 and changes during the period and year then ended: As of September 30, 2021 As of December 31, 2020 (In thousands) Beginning of year 1,371 1,636 Issued 215 264 Vested (238 ) (453 ) Forfeited (26 ) (76 ) End of period 1,322 1,371 Amount of expense for nine months and twelve months ended, respectively $ 5,307 $ 6,824 |
Non-Interest Expense (Tables)
Non-Interest Expense (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Other Income And Expenses [Abstract] | |
Components of Non-Interest Expense | The table below shows the components of non-interest expense for the three and nine months ended September 30, 2021 and 2020: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (In thousands) Salaries and employee benefits $ 42,469 $ 41,511 $ 126,990 $ 120,928 Occupancy and equipment 9,305 9,566 27,584 28,611 Data processing expense 6,024 4,921 17,787 13,861 Merger and acquisition expenses 1,006 — 1,006 711 Other operating expenses: Advertising 1,204 902 3,444 2,923 Amortization of intangibles 1,421 1,420 4,262 4,423 Electronic banking expense 2,521 2,426 7,375 6,195 Directors’ fees 395 429 1,192 1,265 Due from bank service charges 265 259 787 721 FDIC and state assessment 1,648 1,607 4,119 5,001 Insurance 749 766 2,317 2,223 Legal and accounting 1,050 1,235 2,954 3,432 Other professional fees 1,787 1,661 5,196 6,622 Operating supplies 474 460 1,426 1,548 Postage 301 328 931 968 Telephone 371 321 1,082 955 Other expense 4,629 3,900 13,015 12,757 Total other operating expenses 16,815 15,714 48,100 49,033 Total non-interest expense $ 75,619 $ 71,712 $ 221,467 $ 213,144 |
Leases (Tables)
Leases (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Leases [Abstract] | |
Minimum Rental Commitments under Operating Leases | The minimum rental commitments under these noncancelable operating leases are as follows (in thousands) as of September 30, 2021 and December 31, 2020: September 30, 2021 December 31, 2020 2021 $ 2,910 $ 8,235 2022 7,366 6,486 2023 6,535 5,714 2024 5,972 5,262 2025 5,510 4,818 Thereafter 30,388 27,453 Total future minimum lease payments $ 58,681 $ 57,968 Discount effect of cash flows (15,017 ) (14,922 ) Present value of net future minimum lease payments $ 43,664 $ 43,046 |
Additional Information of Lease Expense | Additional information (dollar amounts in thousands): For the Three Months Ended For the Nine Months Ended Lease expense: September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Operating lease expense $ 1,971 $ 2,044 $ 5,961 $ 6,085 Short-term lease expense 1 9 5 41 Variable lease expense 250 253 759 772 Total lease expense $ 2,222 $ 2,306 $ 6,725 $ 6,898 Other information: Cash paid for amounts included in the measurement of lease liabilities $ 1,988 $ 2,021 $ 5,956 $ 6,013 Weighted-average remaining lease term (in years) 9.67 10.08 9.78 10.21 Weighted-average discount rate 3.42 % 3.60 % 3.49 % 3.61 % |
Additional Cash Flow Informat_2
Additional Cash Flow Information (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Supplemental Cash Flow Elements [Abstract] | |
Summary of Additional Cash Flow Information | The following is a summary of the Company’s additional cash flow information during the nine-month periods ended: September 30, 2021 2020 (In thousands) Interest paid $ 36,757 $ 72,909 Income taxes paid 82,245 54,698 Assets acquired by foreclosure 2,058 1,673 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Estimated Fair Values of Financial Instruments | The following table presents the estimated fair values of the Company’s financial instruments. Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date . September 30, 2021 Carrying Amount Fair Value Level (In thousands) Financial assets: Cash and cash equivalents $ 3,280,256 $ 3,280,256 1 Loans receivable, net of impaired loans and allowance 9,409,596 9,687,138 3 Accrued interest receivable 48,577 48,577 1 FHLB, Federal Reserve & First National Bankers Bank stock; other equity investments 122,824 122,824 3 Financial liabilities: Deposits: Demand and non-interest bearing $ 4,139,149 $ 4,139,149 1 Savings and interest-bearing transaction accounts 8,813,326 8,813,326 1 Time deposits 1,050,896 1,089,205 3 Securities sold under agreements to repurchase 141,002 141,002 1 FHLB and other borrowed funds 400,000 403,489 2 Accrued interest payable 9,409 9,409 1 Subordinated debentures 370,900 377,839 3 December 31, 2020 Carrying Amount Fair Value Level (In thousands) Financial assets: Cash and cash equivalents $ 1,263,788 $ 1,263,788 1 Loans receivable, net of impaired loans and allowance 10,873,120 11,292,004 3 Accrued interest receivable 60,528 60,528 1 FHLB, Federal Reserve & First National Bankers Bank stock; other equity investments 114,854 114,854 3 Financial liabilities: Deposits: Demand and non-interest bearing $ 3,266,753 $ 3,266,753 1 Savings and interest-bearing transaction accounts 8,212,240 8,212,240 1 Time deposits 1,246,797 1,266,430 3 Securities sold under agreements to repurchase 168,931 168,931 1 FHLB and other borrowed funds 400,000 414,207 2 Accrued interest payable 5,925 5,925 1 Subordinated debentures 370,326 378,981 3 |
Nature of Operations and Summ_4
Nature of Operations and Summary of Significant Accounting Policies - Additional Information (Detail) $ / shares in Units, shares in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2021USD ($) | Jun. 30, 2021USD ($) | Mar. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Sep. 30, 2020USD ($) | Jun. 30, 2020USD ($) | Mar. 31, 2020USD ($) | Sep. 30, 2021USD ($)Segment | Sep. 30, 2020USD ($)$ / sharesshares | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Jan. 01, 2020USD ($) | |
Accounting Policy [Line Items] | ||||||||||||
Number of reportable operating segment | Segment | 1 | |||||||||||
Allowance for loan losses | $ 238,673,000 | $ 240,451,000 | $ 245,473,000 | $ 248,224,000 | $ 238,673,000 | $ 248,224,000 | $ 245,473,000 | $ 102,122,000 | ||||
Adjustment to retained earnings, net of tax | 1,215,831,000 | 1,039,370,000 | 1,215,831,000 | 1,039,370,000 | ||||||||
Remaining purchased loans reclassified into purchase credit impaired loans | 107,600,000 | 107,600,000 | ||||||||||
Accretable yield reclassified out of purchased credit impaired loans | $ 29,300,000 | 29,300,000 | ||||||||||
Provision for credit loss - investment securities | $ 842,000 | |||||||||||
Antidilutive securities excluded from computation of earnings per share, amount | shares | 3.3 | |||||||||||
Antidilutive securities excluded from computation of earnings per share weighted average exercise price | $ / shares | $ 19.56 | |||||||||||
Accounting Standards Update 2016-13 [Member] | ||||||||||||
Accounting Policy [Line Items] | ||||||||||||
Allowance for loan losses | $ 146,100,000 | |||||||||||
Adjustment to retained earnings, net of tax | 32,500,000 | |||||||||||
Reserve for unfunded commitments recognized | 15,500,000 | |||||||||||
Provision for credit loss - investment securities | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 842,000 | |||||
Accounting Standards Update 2016-13 [Member] | Unfunded Commitments [Member] | ||||||||||||
Accounting Policy [Line Items] | ||||||||||||
Adjustment to retained earnings, net of tax | 11,500,000 | |||||||||||
Reserve for unfunded commitments recognized | 15,500,000 | |||||||||||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member] | ||||||||||||
Accounting Policy [Line Items] | ||||||||||||
Allowance for loan losses | $ 43,988,000 | $ 43,988,000 |
Nature of Operations and Summ_5
Nature of Operations and Summary of Significant Accounting Policies - Summary of Impact of Adoption of ASC 326 in Consolidated Balance Sheet (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Jan. 01, 2020 | Dec. 31, 2019 |
Assets | ||||||
Allowance for loan losses | $ 238,673 | $ 240,451 | $ 245,473 | $ 248,224 | $ 102,122 | |
Accounting Standards Update 2016-13 [Member] | ||||||
Assets | ||||||
Allowance for loan losses | $ 146,100 | |||||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjusted Balance [Member] | ||||||
Assets | ||||||
Allowance for loan losses | 146,110 | |||||
Accounting Standards Update 2016-13 [Member] | Pre-ASC 326 Adoption [Member] | ||||||
Assets | ||||||
Allowance for loan losses | 102,122 | |||||
Accounting Standards Update 2016-13 [Member] | Impact of ASC 326 Adoption [Member] | ||||||
Assets | ||||||
Allowance for loan losses | 43,988 | $ 43,988 | ||||
Accounting Standards Update 2016-13 [Member] | Other Liabilities [Member] | Cumulative Effect Period of Adoption Adjusted Balance [Member] | ||||||
Liabilities: | ||||||
Allowance for credit losses on OBS credit exposures (included in other liabilities) | 15,521 | |||||
Accounting Standards Update 2016-13 [Member] | Other Liabilities [Member] | Impact of ASC 326 Adoption [Member] | ||||||
Liabilities: | ||||||
Allowance for credit losses on OBS credit exposures (included in other liabilities) | $ 15,521 |
Nature of Operations and Summ_6
Nature of Operations and Summary of Significant Accounting Policies - Computation of Basic and Diluted Earnings per Common Share (EPS) (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Earnings Per Share [Abstract] | ||||||||
Net income | $ 74,992 | $ 79,070 | $ 91,602 | $ 69,320 | $ 62,827 | $ 507 | $ 245,664 | $ 132,654 |
Average shares outstanding | 164,126 | 165,200 | 164,717 | 165,458 | ||||
Effect of common stock options | 477 | 333 | ||||||
Average diluted shares outstanding | 164,603 | 165,200 | 165,050 | 165,458 | ||||
Basic earnings per share | $ 0.46 | $ 0.42 | $ 1.49 | $ 0.80 | ||||
Diluted earnings per share | $ 0.46 | $ 0.42 | $ 1.49 | $ 0.80 |
Business Combinations - Acquisi
Business Combinations - Acquisition of LH-Finance - Additional Information (Detail) - USD ($) $ in Thousands | Feb. 29, 2020 | Dec. 31, 2020 |
Business Acquisition [Line Items] | ||
Goodwill | $ 14,617 | |
LH-Finance [Member] | ||
Business Acquisition [Line Items] | ||
Business acquisition date | Feb. 29, 2020 | |
Business combination consideration paid | $ 421,200 | |
Business combination, recognized identifiable assets acquired, Total Assets | 409,100 | |
Business combination, recognized identifiable liabilities assumed, Loans | 407,400 | |
Goodwill | $ 14,600 |
Business Combinations - Future
Business Combinations - Future Acquisition of Happy Bancshares, Inc - Additional Information (Detail) - Happy Bancshares, Inc. [Member] - Subsequent Event [Member] shares in Millions | Oct. 18, 2021USD ($)shares |
Business Acquisition [Line Items] | |
Business combination consideration paid | $ 1,020,000 |
Business acquisition, threshold consecutive trading days period of volume-weighted average closing price per share | 20 days |
Business acquisition, cash consideration | $ 0 |
Business acquisition, expected aggregate cash payable in cancellation of certain stock appreciation rights | $ 11,000,000 |
Business acquisition, common stock conversion ratio | 2.17 |
Business acquisition, merger consideration, description | Subject to the terms and conditions set forth in the Agreement, as amended, at the effective time of the Merger (the “Effective Time”), each outstanding share of common stock of Happy will be converted into the right to receive, without interest, 2.17 shares of the Company’s common stock (the “Merger Consideration”). Each unvested restricted share of Happy common stock outstanding at the Effective Time will fully vest and be converted into the right to receive the Merger Consideration. In addition, at the Effective Time, each outstanding option to purchase Happy common stock will be cancelled and converted into the right to receive the number of whole shares of the Company’s common stock, together with any cash in lieu of fractional shares, equal to the product of (i) the number of shares of Happy common stock subject to the option, multiplied by (ii) the excess, if any, of the Merger Consideration value over the exercise price of the option, less applicable tax withholdings, divided by (iii) the Company’s Average Closing Price (defined below). Similarly, each stock appreciation right of Happy outstanding at the Effective Time will be cancelled and converted into the right to receive a cash payment, without interest, equal to the product of (i) the number of shares of Happy common stock subject to the stock appreciation right, multiplied by (ii) the excess, if any, of the Merger Consideration value over the grant price of the stock appreciation right, less applicable tax withholdings. For purposes of these calculations, the Merger Consideration value will be determined using a volume-weighted average closing price of the Company’s common stock as reported on Nasdaq over the 20 consecutive trading day period ending on the third business day prior to the closing of the Merger (“the Company’s Average Closing Price”), multiplied by 2.17. |
Common Stock [Member] | |
Business Acquisition [Line Items] | |
Business acquisition, equity interest issuable, number of shares | shares | 42.3 |
Investment Securities - Amortiz
Investment Securities - Amortized Cost and Fair Value of Securities Available-for-Sale (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Schedule of Available-for-sale Securities [Line Items] | ||
Total, Amortized Cost | $ 3,116,246 | $ 2,414,891 |
Gross Unrealized Gains | 48,663 | 62,600 |
Gross Unrealized (Losses) | (14,301) | (3,710) |
Estimated Fair Value | 3,150,608 | 2,473,781 |
U.S. Government-Sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total, Amortized Cost | 439,181 | 325,860 |
Gross Unrealized Gains | 2,702 | 2,338 |
Gross Unrealized (Losses) | (1,720) | (1,207) |
Estimated Fair Value | 440,163 | 326,991 |
Residential Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total, Amortized Cost | 1,198,016 | 703,138 |
Gross Unrealized Gains | 6,812 | 10,607 |
Gross Unrealized (Losses) | (9,064) | (688) |
Estimated Fair Value | 1,195,764 | 713,057 |
Commercial Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total, Amortized Cost | 403,840 | 446,964 |
Gross Unrealized Gains | 10,656 | 18,048 |
Gross Unrealized (Losses) | (922) | (126) |
Estimated Fair Value | 413,574 | 464,886 |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total, Amortized Cost | 965,993 | 898,174 |
Gross Unrealized Gains | 27,356 | 31,173 |
Gross Unrealized (Losses) | (2,205) | (1,454) |
Estimated Fair Value | 991,144 | 927,893 |
Other Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total, Amortized Cost | 109,216 | 40,755 |
Gross Unrealized Gains | 1,137 | 434 |
Gross Unrealized (Losses) | (390) | (235) |
Estimated Fair Value | $ 109,963 | $ 40,954 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021USD ($)Security | Sep. 30, 2020USD ($) | Sep. 30, 2021USD ($)Security | Sep. 30, 2020USD ($) | Dec. 31, 2020USD ($) | |
Carrying value of investment securities | $ 1,170,000,000 | $ 1,170,000,000 | $ 1,080,000,000 | ||
Investment securities pledged as collateral | 141,000,000 | 141,000,000 | 168,900,000 | ||
Available for sale securities sold | 0 | $ 0 | 17,900,000 | $ 0 | |
Realized gains (losses) on available for sale securities | 0 | $ 0 | 219,000 | $ 0 | |
Investment securities, provision for credit losses | 842,000 | 842,000 | 842,000 | ||
Fair value of unrealized losses | $ 2,844,000 | $ 2,844,000 | 1,004,000 | ||
Percentage of Company's investment portfolio | 58.60% | ||||
Maturity description of investment portfolio | five years or less | ||||
Number of investment securities available for sale | Security | 1,335 | 1,335 | |||
Number of investment in debt securities unrealized loss position | Security | 304 | 304 | |||
Debt securities available for sale unrealized loss position | $ 14,301,000 | $ 14,301,000 | 3,710,000 | ||
U.S. Government-Sponsored Enterprises [Member] | |||||
Fair value of unrealized losses | $ 705,000 | $ 705,000 | 824,000 | ||
Number of investment in debt securities unrealized loss position | Security | 44 | 44 | |||
Debt securities available for sale unrealized loss position | $ 1,720,000 | $ 1,720,000 | 1,207,000 | ||
Residential Mortgage-Backed Securities [Member] | |||||
Fair value of unrealized losses | $ 848,000 | $ 848,000 | 45,000 | ||
Number of investment in debt securities unrealized loss position | Security | 161 | 161 | |||
Debt securities available for sale unrealized loss position | $ 9,064,000 | $ 9,064,000 | 688,000 | ||
Commercial Mortgage-Backed Securities [Member] | |||||
Fair value of unrealized losses | $ 16,000 | $ 16,000 | |||
Number of investment in debt securities unrealized loss position | Security | 35 | 35 | |||
Debt securities available for sale unrealized loss position | $ 922,000 | $ 922,000 | 126,000 | ||
State and Political Subdivisions [Member] | |||||
Fair value of unrealized losses | $ 1,225,000 | $ 1,225,000 | |||
Number of investment in debt securities unrealized loss position | Security | 51 | 51 | |||
Debt securities available for sale unrealized loss position | $ 2,205,000 | $ 2,205,000 | 1,454,000 | ||
Other Securities [Member] | |||||
Fair value of unrealized losses | $ 50,000 | $ 50,000 | 135,000 | ||
Number of investment in debt securities unrealized loss position | Security | 13 | 13 | |||
Debt securities available for sale unrealized loss position | $ 390,000 | $ 390,000 | $ 235,000 |
Investment Securities - Amort_2
Investment Securities - Amortized Cost and Estimated Fair Value of Securities Contractual Maturity (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Available-for-Sale Securities, Amortized Cost | ||
Due in one year or less, Amortized Cost | $ 9,391 | |
Due after one year through five years, Amortized Cost | 78,839 | |
Due after five years through ten years, Amortized Cost | 348,801 | |
Due after ten years, Amortized Cost | 1,075,359 | |
Total, Amortized Cost | 3,116,246 | $ 2,414,891 |
Available-for-Sale Securities, Estimated Fair Value | ||
Due in one year or less, Estimated Fair Value | 9,399 | |
Due after one year through five years, Estimated Fair Value | 79,824 | |
Due after five years through ten years, Estimated Fair Value | 350,567 | |
Due after ten years, Estimated Fair Value | 1,099,480 | |
Total, Estimated Fair Value | 3,150,608 | 2,473,781 |
Residential Mortgage-Backed Securities [Member] | ||
Available-for-Sale Securities, Amortized Cost | ||
Securities not due at a single maturity date, Amortized Cost | 1,198,016 | |
Total, Amortized Cost | 1,198,016 | 703,138 |
Available-for-Sale Securities, Estimated Fair Value | ||
Securities not due at a single maturity date, Estimated Fair Value | 1,195,764 | |
Total, Estimated Fair Value | 1,195,764 | 713,057 |
Commercial Mortgage-Backed Securities [Member] | ||
Available-for-Sale Securities, Amortized Cost | ||
Securities not due at a single maturity date, Amortized Cost | 403,840 | |
Total, Amortized Cost | 403,840 | 446,964 |
Available-for-Sale Securities, Estimated Fair Value | ||
Securities not due at a single maturity date, Estimated Fair Value | 413,574 | |
Total, Estimated Fair Value | 413,574 | 464,886 |
Other [Member] | ||
Available-for-Sale Securities, Amortized Cost | ||
Securities not due at a single maturity date, Amortized Cost | 2,000 | |
Total, Amortized Cost | 109,216 | 40,755 |
Available-for-Sale Securities, Estimated Fair Value | ||
Securities not due at a single maturity date, Estimated Fair Value | 2,000 | |
Total, Estimated Fair Value | $ 109,963 | $ 40,954 |
Investment Securities - Unreali
Investment Securities - Unrealized Losses and Estimated Fair Value of Investment Securities Available for Sale (Detail) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value of Available-for-Sale Securities, Less Than 12 Months | $ 1,115,883,000 | $ 308,738,000 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | (11,457,000) | (2,706,000) |
Fair Value of Available-for-Sale Securities, 12 Months or More | 114,864,000 | 108,897,000 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (2,844,000) | (1,004,000) |
Fair Value of Available-for-Sale Securities, Total | 1,230,747,000 | 417,635,000 |
Unrealized Losses of Available-for-Sale Securities, Total | (14,301,000) | (3,710,000) |
U.S. Government-Sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value of Available-for-Sale Securities, Less Than 12 Months | 80,986,000 | 54,611,000 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | (1,015,000) | (383,000) |
Fair Value of Available-for-Sale Securities, 12 Months or More | 56,150,000 | 95,249,000 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (705,000) | (824,000) |
Fair Value of Available-for-Sale Securities, Total | 137,136,000 | 149,860,000 |
Unrealized Losses of Available-for-Sale Securities, Total | (1,720,000) | (1,207,000) |
Residential Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value of Available-for-Sale Securities, Less Than 12 Months | 762,805,000 | 143,458,000 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | (8,216,000) | (643,000) |
Fair Value of Available-for-Sale Securities, 12 Months or More | 31,319,000 | 4,900,000 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (848,000) | (45,000) |
Fair Value of Available-for-Sale Securities, Total | 794,124,000 | 148,358,000 |
Unrealized Losses of Available-for-Sale Securities, Total | (9,064,000) | (688,000) |
Commercial Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value of Available-for-Sale Securities, Less Than 12 Months | 81,615,000 | 26,886,000 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | (906,000) | (126,000) |
Fair Value of Available-for-Sale Securities, 12 Months or More | 6,245,000 | |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (16,000) | |
Fair Value of Available-for-Sale Securities, Total | 87,860,000 | 26,886,000 |
Unrealized Losses of Available-for-Sale Securities, Total | (922,000) | (126,000) |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value of Available-for-Sale Securities, Less Than 12 Months | 149,056,000 | 78,349,000 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | (980,000) | (1,454,000) |
Fair Value of Available-for-Sale Securities, 12 Months or More | 16,887,000 | |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (1,225,000) | |
Fair Value of Available-for-Sale Securities, Total | 165,943,000 | 78,349,000 |
Unrealized Losses of Available-for-Sale Securities, Total | (2,205,000) | (1,454,000) |
Other Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value of Available-for-Sale Securities, Less Than 12 Months | 41,421,000 | 5,434,000 |
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months | (340,000) | (100,000) |
Fair Value of Available-for-Sale Securities, 12 Months or More | 4,263,000 | 8,748,000 |
Unrealized Losses of Available-for-Sale Securities, 12 Months or More | (50,000) | (135,000) |
Fair Value of Available-for-Sale Securities, Total | 45,684,000 | 14,182,000 |
Unrealized Losses of Available-for-Sale Securities, Total | $ (390,000) | $ (235,000) |
Investment Securities - Schedul
Investment Securities - Schedule of Allowance for Credit Losses on Investment Securities (Detail) - USD ($) | 3 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Allowance for credit losses: | ||
Beginning balance | ||
Provision for credit loss - investment securities | $ 842,000 | |
Ending balance | $ 842,000 | $ 842,000 |
Investment Securities - Sched_2
Investment Securities - Schedule of Income Earned on Available-for Sale Securities (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Investment Income [Line Items] | ||||
Income earned on securities, taxable | $ 8,495 | $ 7,227 | $ 21,933 | $ 25,696 |
Income earned on securities, non-taxable | 4,839 | 4,367 | 14,815 | 11,179 |
Available-for-sale [Member] | ||||
Investment Income [Line Items] | ||||
Income earned on securities, taxable | 8,495 | 7,227 | 21,933 | 25,696 |
Income earned on securities, non-taxable | 4,839 | 4,367 | 14,815 | 11,179 |
Income earned on securities, total | $ 13,334 | $ 11,594 | $ 36,748 | $ 36,875 |
Loans Receivable - Summary of V
Loans Receivable - Summary of Various Categories of Loans Receivable (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Dec. 31, 2019 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | $ 9,901,100 | $ 11,220,721 | |||
Allowance for credit losses | (238,673) | $ (240,451) | (245,473) | $ (248,224) | $ (102,122) |
Loans receivable, net | 9,662,427 | 10,975,248 | |||
Construction/Land Development Loan [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Allowance for credit losses | (25,983) | (22,145) | (32,861) | (38,815) | (26,433) |
Commercial Real Estate Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 5,887,409 | 6,105,789 | |||
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 4,005,841 | 4,429,060 | |||
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 1,742,687 | 1,562,298 | |||
Commercial Real Estate Loans [Member] | Agricultural [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 138,881 | 114,431 | |||
Residential Real Estate Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 274,131 | 536,538 | |||
Allowance for credit losses | (50,903) | (51,182) | (53,216) | (45,220) | (20,135) |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 1,273,988 | 1,536,257 | |||
Residential Real Estate Loans [Member] | Multifamily Residential [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 274,131 | 536,538 | |||
Total Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 7,435,528 | 8,178,584 | |||
Consumer [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 814,732 | 864,690 | |||
Commercial and Industrial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 1,414,079 | 1,896,442 | |||
Allowance for credit losses | (52,602) | $ (52,282) | (46,530) | $ (40,157) | $ (16,615) |
Agricultural [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | 68,272 | 66,869 | |||
Other [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Loans receivable | $ 168,489 | $ 214,136 |
Loans Receivable - Additional I
Loans Receivable - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2021 | Dec. 31, 2020 | Jan. 01, 2020 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Remaining purchased loans reclassified into purchase credit impaired loans | $ 107,600,000 | $ 107,600,000 | ||||||
Accretable yield reclassified out of purchased credit impaired loans | 29,300,000 | 29,300,000 | ||||||
Allowance for loan losses | $ 238,673,000 | $ 248,224,000 | 238,673,000 | $ 248,224,000 | 102,122,000 | $ 240,451,000 | $ 245,473,000 | |
Accounting Standards Update 2016-13 [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Allowance for loan losses | $ 146,100,000 | |||||||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Allowance for loan losses | 43,988,000 | $ 43,988,000 | ||||||
Deteriorated Credit Quality [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Purchased loans | $ 0 | |||||||
Allowance for loan losses | 454,000 | 454,000 | 760,000 | |||||
Deteriorated Credit Quality [Member] | LH-Finance [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Allowance for loan losses | 454,000 | 454,000 | 760,000 | |||||
Mortgage Loans [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Mortgage loans held for sale | 81,900,000 | 81,900,000 | $ 114,800,000 | |||||
SBA Loans [Member] | ||||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||||
Loans sold during period | 3,900,000 | $ 0 | 15,000,000 | 3,700,000 | ||||
Gain on sale of guaranteed portion of loans | $ 440,000 | $ 1,600,000 | $ 341,000 |
Allowance for Credit Losses, _3
Allowance for Credit Losses, Credit Quality and Other - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Mar. 31, 2020USD ($) | Sep. 30, 2021USD ($)RatingLoan | Sep. 30, 2020USD ($)Loan | Jun. 30, 2021USD ($) | Dec. 31, 2020USD ($) | Jan. 01, 2020USD ($) | Dec. 31, 2019USD ($) | |
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Allowance for loan losses | $ 238,673,000 | $ 248,224,000 | $ 238,673,000 | $ 248,224,000 | $ 240,451,000 | $ 245,473,000 | $ 102,122,000 | ||
Retained earnings net of tax | 1,215,831,000 | 1,215,831,000 | 1,039,370,000 | ||||||
Provision for unfunded commitments | (4,752,000) | 16,989,000 | |||||||
Allowance for credit losses on PCD loans | 357,000 | 357,000 | |||||||
Non-accrual loans | 47,604,000 | 47,604,000 | 64,528,000 | ||||||
Loans past due 90 days or more and still accruing | 3,311,000 | 3,311,000 | 9,610,000 | ||||||
Nonaccrual loans with specific reserve | 9,500,000 | 9,500,000 | 11,900,000 | ||||||
Interest income on nonaccrual loans | 0 | 0 | |||||||
Collateral-dependent impaired loans | $ 300,100,000 | $ 300,100,000 | 112,700,000 | ||||||
Percentage of discount of par for impaired loans | 15.00% | 15.00% | |||||||
Interest recognized on impaired loans | $ 3,300,000 | 694,000 | $ 9,800,000 | 2,100,000 | |||||
Risk rating scale of loan | Loans are rated on a scale from 1 to 8. | ||||||||
Amount of loan assessed for impairment on a quarterly basis | $ 2,000,000 | ||||||||
Over $2,000,000 assessed minimum rated | Rating | 5 | ||||||||
Over $2,000,000 assessed maximum rated | Rating | 8 | ||||||||
Revolver loans converted to term loans | $ 27,800,000 | $ 92,400,000 | |||||||
Number of revolving loans convert to term loans | Loan | 201 | 289 | |||||||
Purchase price of loans at acquisition | $ 1,300,000 | ||||||||
Non-credit premium at acquisition | 17,000 | ||||||||
Par value of acquired loans at acquisition | 1,000,000 | ||||||||
Deteriorated Credit Quality [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Allowance for loan losses | 454,000 | $ 454,000 | 760,000 | ||||||
LH-Finance [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Acquisition of loans | $ 406,200,000 | ||||||||
Loan discount | 6,600,000 | ||||||||
Increase in allowance for credit losses for acquisition | 9,300,000 | ||||||||
Allowance for credit losses on PCD loans | $ 357,000 | ||||||||
Construction / Land Development and Other Commercial Real Estate Loans [Member] | Minimum [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Loans collateralized by first liens on real estate amortized period | 15 years | ||||||||
Loans collateralized by first liens on real estate balloon payments due period | 1 year | ||||||||
Construction / Land Development and Other Commercial Real Estate Loans [Member] | Maximum [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Loans collateralized by first liens on real estate amortized period | 30 years | ||||||||
Loans collateralized by first liens on real estate balloon payments due period | 5 years | ||||||||
Percentage of loan value of improved property | 85.00% | ||||||||
Percentage of loan value of raw land | 65.00% | ||||||||
Percentage of loan value of land to be acquired and developed | 75.00% | ||||||||
Residential Real Estate Loans [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Allowance for loan losses | 50,903,000 | 45,220,000 | $ 50,903,000 | $ 45,220,000 | 51,182,000 | 53,216,000 | 20,135,000 | ||
Residential Real Estate Loans [Member] | Maximum [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Loan-to-value ratio | 90.00% | ||||||||
Commercial and Industrial Loans [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Allowance for loan losses | 52,602,000 | $ 40,157,000 | $ 52,602,000 | $ 40,157,000 | $ 52,282,000 | 46,530,000 | 16,615,000 | ||
Non-accrual loans | 15,989,000 | 15,989,000 | 17,251,000 | ||||||
Loans past due 90 days or more and still accruing | $ 41,000 | $ 41,000 | 231,000 | ||||||
Commercial and Industrial Loans [Member] | Minimum [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Commercial loans terms | 1 year | ||||||||
Inventory financing percentage | 50.00% | 50.00% | |||||||
Commercial and Industrial Loans [Member] | Minimum [Member] | Accounts Receivable Less than 60 Days Past Due [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Accounts receivable financed percentage | 50.00% | 50.00% | |||||||
Commercial and Industrial Loans [Member] | Maximum [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Commercial loans terms | 7 years | ||||||||
Inventory financing percentage | 80.00% | 80.00% | |||||||
Commercial and Industrial Loans [Member] | Maximum [Member] | Accounts Receivable Less than 60 Days Past Due [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Accounts receivable financed percentage | 80.00% | 80.00% | |||||||
Accounting Standards Update 2016-13 [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Allowance for loan losses | $ 146,100,000 | ||||||||
Retained earnings net of tax | 32,500,000 | ||||||||
Reserve for unfunded commitments recognized | 15,500,000 | ||||||||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Allowance for loan losses | 43,988,000 | 43,988,000 | |||||||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member] | LH-Finance [Member] | Deteriorated Credit Quality [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Allowance for loan losses | $ 454,000 | $ 454,000 | $ 760,000 | ||||||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member] | Residential Real Estate Loans [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Allowance for loan losses | 16,680,000 | ||||||||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member] | Commercial and Industrial Loans [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Allowance for loan losses | $ 11,584,000 | ||||||||
Accounting Standards Update 2016-13 [Member] | Unfunded Commitments [Member] | |||||||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||||||
Retained earnings net of tax | 11,500,000 | ||||||||
Reserve for unfunded commitments recognized | $ 15,500,000 |
Allowance for Credit Losses, _4
Allowance for Credit Losses, Credit Quality and Other - Schedule of Allowance for Credit Losses (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | $ 240,451,000 | $ 248,224,000 | $ 245,473,000 | $ 102,122,000 | |
Allowance for credit losses on PCD loans | 357,000 | 357,000 | |||
Loans charged off | (2,469,000) | (3,040,000) | (8,539,000) | (11,446,000) | |
Recoveries of loans previously charged off | 691,000 | 289,000 | 1,739,000 | 1,781,000 | |
Net loans recovered (charged off) | (1,778,000) | (2,751,000) | (6,800,000) | (9,665,000) | |
Provision for credit losses | $ 14,000,000 | (4,752,000) | 129,253,000 | ||
Provision for credit loss - loans | 102,113,000 | ||||
Provision for credit loss - acquired loans | 9,309,000 | ||||
Ending balance | 238,673,000 | 245,473,000 | 248,224,000 | 238,673,000 | 248,224,000 |
Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 43,988,000 | ||||
Residential Real Estate Loans [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 51,182,000 | 45,220,000 | 53,216,000 | 20,135,000 | |
Loans charged off | (220,000) | (35,000) | (543,000) | (450,000) | |
Recoveries of loans previously charged off | 388,000 | 32,000 | 554,000 | 305,000 | |
Net loans recovered (charged off) | 168,000 | (3,000) | 11,000 | (145,000) | |
Provision for credit losses | (447,000) | (2,324,000) | |||
Provision for credit loss - loans | 7,999,000 | 8,550,000 | |||
Ending balance | 50,903,000 | 53,216,000 | 45,220,000 | 50,903,000 | 45,220,000 |
Residential Real Estate Loans [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 16,680,000 | ||||
Commercial and Industrial [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 52,282,000 | 40,157,000 | 46,530,000 | 16,615,000 | |
Loans charged off | (1,682,000) | (1,557,000) | (5,892,000) | (6,207,000) | |
Recoveries of loans previously charged off | 80,000 | 76,000 | 382,000 | 142,000 | |
Net loans recovered (charged off) | (1,602,000) | (1,481,000) | (5,510,000) | (6,065,000) | |
Provision for credit losses | 1,922,000 | 11,582,000 | |||
Provision for credit loss - loans | 7,854,000 | 18,023,000 | |||
Ending balance | 52,602,000 | 46,530,000 | 40,157,000 | 52,602,000 | 40,157,000 |
Commercial and Industrial [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 11,584,000 | ||||
Construction/Land Development Loan [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 22,145,000 | 38,815,000 | 32,861,000 | 26,433,000 | |
Loans charged off | (775,000) | (443,000) | |||
Recoveries of loans previously charged off | 8,000 | 13,000 | 47,000 | 94,000 | |
Net loans recovered (charged off) | 8,000 | (762,000) | 47,000 | (349,000) | |
Provision for credit losses | 3,830,000 | (6,925,000) | |||
Provision for credit loss - loans | (5,192,000) | 18,027,000 | |||
Ending balance | 25,983,000 | 32,861,000 | 38,815,000 | 25,983,000 | 38,815,000 |
Construction/Land Development Loan [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | (5,296,000) | ||||
Other Commercial Real Estate [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 93,127,000 | 97,964,000 | 88,453,000 | 33,529,000 | |
Loans charged off | (9,000) | (38,000) | (646,000) | (3,003,000) | |
Recoveries of loans previously charged off | 44,000 | 33,000 | 112,000 | 614,000 | |
Net loans recovered (charged off) | 35,000 | (5,000) | (534,000) | (2,389,000) | |
Provision for credit losses | (4,664,000) | 579,000 | |||
Provision for credit loss - loans | (9,506,000) | 50,912,000 | |||
Ending balance | 88,498,000 | 88,453,000 | 97,964,000 | 88,498,000 | 97,964,000 |
Other Commercial Real Estate [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 15,912,000 | ||||
Consumer & Other [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | 21,715,000 | 26,068,000 | 24,413,000 | 5,410,000 | |
Allowance for credit losses on PCD loans | 357,000 | ||||
Loans charged off | (558,000) | (635,000) | (1,458,000) | (1,343,000) | |
Recoveries of loans previously charged off | 171,000 | 135,000 | 644,000 | 626,000 | |
Net loans recovered (charged off) | (387,000) | (500,000) | (814,000) | (717,000) | |
Provision for credit losses | (641,000) | (2,912,000) | |||
Provision for credit loss - loans | (1,155,000) | 6,601,000 | |||
Provision for credit loss - acquired loans | 9,309,000 | ||||
Ending balance | $ 20,687,000 | $ 24,413,000 | $ 26,068,000 | $ 20,687,000 | 26,068,000 |
Consumer & Other [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member] | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Beginning balance | $ 5,108,000 |
Allowance for Credit Losses, _5
Allowance for Credit Losses, Credit Quality and Other - Amortized Cost Basis of Loans on Nonaccrual Status and Loans Past Due Over 90 Days Still Accruing (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Financing Receivable Nonaccrual Status [Line Items] | ||
Nonaccrual | $ 47,604 | $ 64,528 |
Nonaccrual with reserve | 9,500 | 11,883 |
Loans Past Due Over 90 Days Still Accruing | 3,311 | 9,610 |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | ||
Financing Receivable Nonaccrual Status [Line Items] | ||
Nonaccrual | 8,819 | 20,947 |
Nonaccrual with reserve | 2,244 | 6,794 |
Loans Past Due Over 90 Days Still Accruing | 2,413 | 6,088 |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | ||
Financing Receivable Nonaccrual Status [Line Items] | ||
Nonaccrual | 1,870 | 1,381 |
Nonaccrual with reserve | 2,089 | |
Loans Past Due Over 90 Days Still Accruing | 1,296 | |
Commercial Real Estate Loans [Member] | Agricultural [Member] | ||
Financing Receivable Nonaccrual Status [Line Items] | ||
Nonaccrual | 743 | 879 |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable Nonaccrual Status [Line Items] | ||
Nonaccrual | 17,495 | 19,334 |
Nonaccrual with reserve | 2,984 | 3,000 |
Loans Past Due Over 90 Days Still Accruing | 855 | 1,821 |
Residential Real Estate Loans [Member] | Multifamily Residential [Member] | ||
Financing Receivable Nonaccrual Status [Line Items] | ||
Nonaccrual | 161 | 173 |
Total Real Estate [Member] | ||
Financing Receivable Nonaccrual Status [Line Items] | ||
Nonaccrual | 29,088 | 42,714 |
Nonaccrual with reserve | 5,228 | 11,883 |
Loans Past Due Over 90 Days Still Accruing | 3,268 | 9,205 |
Consumer [Member] | ||
Financing Receivable Nonaccrual Status [Line Items] | ||
Nonaccrual | 1,921 | 3,506 |
Loans Past Due Over 90 Days Still Accruing | 2 | 174 |
Commercial and Industrial [Member] | ||
Financing Receivable Nonaccrual Status [Line Items] | ||
Nonaccrual | 15,989 | 17,251 |
Nonaccrual with reserve | 4,272 | |
Loans Past Due Over 90 Days Still Accruing | 41 | 231 |
Agricultural and Other [Member] | ||
Financing Receivable Nonaccrual Status [Line Items] | ||
Nonaccrual | $ 606 | $ 1,057 |
Allowance for Credit Losses, _6
Allowance for Credit Losses, Credit Quality and Other - Amortized Cost Basis of Collateral-dependent Impaired Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Amortized cost | $ 300,100 | $ 112,700 |
Commercial Real Estate [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Amortized cost | 255,727 | 54,320 |
Residential Real Estate [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Amortized cost | 21,554 | 32,586 |
Other [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Amortized cost | 22,807 | 25,778 |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Commercial Real Estate [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Amortized cost | 249,783 | 47,429 |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Commercial Real Estate [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Amortized cost | 5,201 | 6,012 |
Commercial Real Estate Loans [Member] | Agricultural [Member] | Commercial Real Estate [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Amortized cost | 743 | 879 |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Residential Real Estate [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Amortized cost | 21,393 | 32,413 |
Residential Real Estate Loans [Member] | Multifamily Residential [Member] | Residential Real Estate [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Amortized cost | 161 | 173 |
Total Real Estate [Member] | Commercial Real Estate [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Amortized cost | 255,727 | 54,320 |
Total Real Estate [Member] | Residential Real Estate [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Amortized cost | 21,554 | 32,586 |
Consumer [Member] | Other [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Amortized cost | 1,936 | 3,694 |
Commercial and Industrial [Member] | Other [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Amortized cost | 20,264 | 21,027 |
Agricultural and Other [Member] | Other [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Amortized cost | $ 607 | $ 1,057 |
Allowance for Credit Losses, _7
Allowance for Credit Losses, Credit Quality and Other - Summary of Aging Analysis for Loans Receivable (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | $ 9,901,100 | $ 11,220,721 |
Total Loans Receivable | 9,901,100 | 11,220,721 |
Accruing Loans Past Due 90 Days or More | 3,311 | 9,610 |
Loans Past Due 30-59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 6,937 | 14,484 |
Loans Past Due 60-89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 4,143 | 12,929 |
Loans Past Due 90 Days or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 50,915 | 74,138 |
Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 61,995 | 101,551 |
Not Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 9,839,105 | 11,119,170 |
Commercial Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 5,887,409 | 6,105,789 |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 4,005,841 | 4,429,060 |
Total Loans Receivable | 4,005,841 | 4,429,060 |
Accruing Loans Past Due 90 Days or More | 2,413 | 6,088 |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Loans Past Due 30-59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 2,213 | 3,856 |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Loans Past Due 60-89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 68 | |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Loans Past Due 90 Days or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 11,232 | 27,035 |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 13,445 | 30,959 |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Not Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 3,992,396 | 4,398,101 |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 1,742,687 | 1,562,298 |
Total Loans Receivable | 1,742,687 | 1,562,298 |
Accruing Loans Past Due 90 Days or More | 1,296 | |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Loans Past Due 30-59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 66 | 178 |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Loans Past Due 60-89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 171 | 44 |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Loans Past Due 90 Days or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 1,870 | 2,677 |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 2,107 | 2,899 |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Not Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 1,740,580 | 1,559,399 |
Commercial Real Estate Loans [Member] | Agricultural [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 138,881 | 114,431 |
Total Loans Receivable | 138,881 | 114,431 |
Commercial Real Estate Loans [Member] | Agricultural [Member] | Loans Past Due 30-59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 434 | 522 |
Commercial Real Estate Loans [Member] | Agricultural [Member] | Loans Past Due 60-89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 295 | |
Commercial Real Estate Loans [Member] | Agricultural [Member] | Loans Past Due 90 Days or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 743 | 879 |
Commercial Real Estate Loans [Member] | Agricultural [Member] | Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 1,472 | 1,401 |
Commercial Real Estate Loans [Member] | Agricultural [Member] | Not Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 137,409 | 113,030 |
Residential Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 274,131 | 536,538 |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 1,273,988 | 1,536,257 |
Total Loans Receivable | 1,273,988 | 1,536,257 |
Accruing Loans Past Due 90 Days or More | 855 | 1,821 |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Loans Past Due 30-59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 2,452 | 4,833 |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Loans Past Due 60-89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 3,072 | 7,787 |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Loans Past Due 90 Days or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 18,350 | 21,155 |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 23,874 | 33,775 |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Not Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 1,250,114 | 1,502,482 |
Residential Real Estate Loans [Member] | Multifamily Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 274,131 | 536,538 |
Total Loans Receivable | 274,131 | 536,538 |
Residential Real Estate Loans [Member] | Multifamily Residential [Member] | Loans Past Due 30-59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 111 | |
Residential Real Estate Loans [Member] | Multifamily Residential [Member] | Loans Past Due 90 Days or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 161 | 173 |
Residential Real Estate Loans [Member] | Multifamily Residential [Member] | Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 161 | 284 |
Residential Real Estate Loans [Member] | Multifamily Residential [Member] | Not Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 273,970 | 536,254 |
Total Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 7,435,528 | 8,178,584 |
Total Loans Receivable | 7,435,528 | 8,178,584 |
Accruing Loans Past Due 90 Days or More | 3,268 | 9,205 |
Total Real Estate [Member] | Loans Past Due 30-59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 5,165 | 9,500 |
Total Real Estate [Member] | Loans Past Due 60-89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 3,538 | 7,899 |
Total Real Estate [Member] | Loans Past Due 90 Days or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 32,356 | 51,919 |
Total Real Estate [Member] | Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 41,059 | 69,318 |
Total Real Estate [Member] | Not Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 7,394,469 | 8,109,266 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 814,732 | 864,690 |
Total Loans Receivable | 814,732 | 864,690 |
Accruing Loans Past Due 90 Days or More | 2 | 174 |
Consumer [Member] | Loans Past Due 30-59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 401 | 2,899 |
Consumer [Member] | Loans Past Due 60-89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 12 | 802 |
Consumer [Member] | Loans Past Due 90 Days or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 1,923 | 3,680 |
Consumer [Member] | Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 2,336 | 7,381 |
Consumer [Member] | Not Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 812,396 | 857,309 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 1,414,079 | 1,896,442 |
Total Loans Receivable | 1,414,079 | 1,896,442 |
Accruing Loans Past Due 90 Days or More | 41 | 231 |
Commercial and Industrial [Member] | Loans Past Due 30-59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 752 | 960 |
Commercial and Industrial [Member] | Loans Past Due 60-89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 592 | 515 |
Commercial and Industrial [Member] | Loans Past Due 90 Days or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 16,030 | 17,482 |
Commercial and Industrial [Member] | Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 17,374 | 18,957 |
Commercial and Industrial [Member] | Not Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 1,396,705 | 1,877,485 |
Agricultural and Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 236,761 | 281,005 |
Total Loans Receivable | 236,761 | 281,005 |
Agricultural and Other [Member] | Loans Past Due 30-59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 619 | 1,125 |
Agricultural and Other [Member] | Loans Past Due 60-89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 1 | 3,713 |
Agricultural and Other [Member] | Loans Past Due 90 Days or More [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 606 | 1,057 |
Agricultural and Other [Member] | Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | 1,226 | 5,895 |
Agricultural and Other [Member] | Not Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans | $ 235,535 | $ 275,110 |
Allowance for Credit Losses, _8
Allowance for Credit Losses, Credit Quality and Other - Summary of Most Recent Analysis Performed, Risk Category of Loans by Class of Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | $ 1,431,831 | $ 2,139,414 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 1,394,222 | 1,890,351 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 1,652,386 | 1,766,304 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 1,260,249 | 1,149,024 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 764,623 | 973,616 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 2,481,919 | 2,265,964 |
Revolving Loans Amortized Cost Basis | 915,870 | 1,036,048 |
Total | 9,901,100 | 11,220,721 |
Commercial Real Estate Loans [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 579,801 | 715,849 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 802,580 | 1,106,817 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 1,064,469 | 971,679 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 764,977 | 668,877 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 479,325 | 653,276 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 1,720,827 | 1,505,545 |
Revolving Loans Amortized Cost Basis | 475,430 | 483,746 |
Total | 5,887,409 | 6,105,789 |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 289,385 | 339,067 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 326,262 | 497,640 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 452,111 | 777,509 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 677,375 | 560,608 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 409,759 | 600,924 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 1,573,325 | 1,368,279 |
Revolving Loans Amortized Cost Basis | 277,624 | 285,033 |
Total | 4,005,841 | 4,429,060 |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 267,934 | 341,166 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 443,445 | 599,757 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 603,986 | 183,845 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 79,765 | 102,191 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 63,383 | 42,918 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 94,372 | 99,911 |
Revolving Loans Amortized Cost Basis | 189,802 | 192,510 |
Total | 1,742,687 | 1,562,298 |
Commercial Real Estate Loans [Member] | Agricultural [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 22,482 | 35,616 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 32,873 | 9,420 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 8,372 | 10,325 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 7,837 | 6,078 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 6,183 | 9,434 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 53,130 | 37,355 |
Revolving Loans Amortized Cost Basis | 8,004 | 6,203 |
Total | 138,881 | 114,431 |
Residential Real Estate Loans [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 8,496 | 19,510 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 21,514 | 66,533 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 62,345 | 188,468 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 46,030 | 105,846 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 21,901 | 10,016 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 69,016 | 102,493 |
Revolving Loans Amortized Cost Basis | 44,829 | 43,672 |
Total | 274,131 | 536,538 |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 182,846 | 243,171 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 159,513 | 203,314 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 152,328 | 186,264 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 132,572 | 166,567 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 114,649 | 139,471 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 407,763 | 435,570 |
Revolving Loans Amortized Cost Basis | 124,317 | 161,900 |
Total | 1,273,988 | 1,536,257 |
Residential Real Estate Loans [Member] | Multifamily Residential [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 8,496 | 19,510 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 21,514 | 66,533 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 62,345 | 188,468 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 46,030 | 105,846 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 21,901 | 10,016 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 69,016 | 102,493 |
Revolving Loans Amortized Cost Basis | 44,829 | 43,672 |
Total | 274,131 | 536,538 |
Total Real Estate [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 771,143 | 978,530 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 983,607 | 1,376,664 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 1,279,142 | 1,346,411 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 943,579 | 941,290 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 615,875 | 802,763 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 2,197,606 | 2,043,608 |
Revolving Loans Amortized Cost Basis | 644,576 | 689,318 |
Total | 7,435,528 | 8,178,584 |
Consumer [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 159,355 | 236,433 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 192,424 | 199,053 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 152,568 | 158,530 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 120,671 | 99,909 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 72,968 | 73,404 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 108,077 | 75,091 |
Revolving Loans Amortized Cost Basis | 8,669 | 22,270 |
Total | 814,732 | 864,690 |
Commercial and Industrial [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 425,755 | 785,839 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 157,475 | 297,707 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 211,587 | 254,650 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 186,871 | 101,684 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 72,152 | 77,776 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 122,401 | 103,522 |
Revolving Loans Amortized Cost Basis | 237,838 | 275,264 |
Total | 1,414,079 | 1,896,442 |
Agricultural and Other [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 75,578 | 138,612 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 60,716 | 16,927 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 9,089 | 6,713 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 9,128 | 6,141 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 3,628 | 19,673 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 53,835 | 43,743 |
Revolving Loans Amortized Cost Basis | 24,787 | 49,196 |
Total | 236,761 | 281,005 |
Risk Rated 1 [Member] | Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 47 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 76 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 80 | 12 |
Revolving Loans Amortized Cost Basis | 90 | 120 |
Total | 170 | 255 |
Risk Rated 1 [Member] | Consumer [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 2,930 | 3,389 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 2,109 | 2,375 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 1,556 | 1,596 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 1,064 | 485 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 259 | 828 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 1,777 | 1,428 |
Revolving Loans Amortized Cost Basis | 1,753 | 1,957 |
Total | 11,448 | 12,058 |
Risk Rated 1 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 210,222 | 632,735 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 28,846 | 506 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 371 | 271 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 157 | 183 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 169 | 20,199 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 21,457 | 1,445 |
Revolving Loans Amortized Cost Basis | 11,885 | 10,023 |
Total | 273,107 | 665,362 |
Risk Rated 1 [Member] | Agricultural and Other [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 11,231 | 59,248 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 203 | 51 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 43 | 53 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 110 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 112 | 27 |
Revolving Loans Amortized Cost Basis | 375 | 1,036 |
Total | 11,964 | 60,525 |
Risk Rated 2 [Member] | Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Revolving Loans Amortized Cost Basis | 209,027 | 25 |
Total | 209,027 | 25 |
Risk Rated 2 [Member] | Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year, Prior | 235 | 283 |
Total | 235 | 283 |
Risk Rated 2 [Member] | Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year, Prior | 29 | 423 |
Revolving Loans Amortized Cost Basis | 1,540 | |
Total | 29 | 1,963 |
Risk Rated 2 [Member] | Consumer [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 47 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 45 | 931 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 647 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 9 | 12 |
Revolving Loans Amortized Cost Basis | 57 | |
Total | 701 | 1,047 |
Risk Rated 2 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 19 | 29 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 19 | 187 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 2 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 96 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 87 | 67 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 280 | 623 |
Revolving Loans Amortized Cost Basis | 175 | 268 |
Total | 580 | 1,272 |
Risk Rated 2 [Member] | Agricultural and Other [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 16 | |
Term Loans Amortized Cost Basis by Origination Year 2020 | 4,571 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 3,467 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 908 | 2,859 |
Revolving Loans Amortized Cost Basis | 809 | 1,159 |
Total | 5,184 | 8,605 |
Risk Rated 3 [Member] | Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 182,402 | 301,237 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 280,163 | 340,562 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 314,000 | 546,670 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 396,848 | 286,173 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 247,852 | 289,483 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 981,970 | 942,449 |
Revolving Loans Amortized Cost Basis | 68,510 | 266,867 |
Total | 2,471,745 | 2,973,441 |
Risk Rated 3 [Member] | Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 150,620 | 211,567 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 228,246 | 181,257 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 100,935 | 91,323 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 33,933 | 33,986 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 23,005 | 25,600 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 42,863 | 54,245 |
Revolving Loans Amortized Cost Basis | 166,151 | 115,120 |
Total | 745,753 | 713,098 |
Risk Rated 3 [Member] | Commercial Real Estate Loans [Member] | Agricultural [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 18,093 | 33,428 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 30,708 | 8,885 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 8,005 | 9,119 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 6,673 | 5,397 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 5,412 | 3,935 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 21,538 | 25,159 |
Revolving Loans Amortized Cost Basis | 6,616 | 5,538 |
Total | 97,045 | 91,461 |
Risk Rated 3 [Member] | Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 173,712 | 237,991 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 153,260 | 184,578 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 140,787 | 151,478 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 111,458 | 139,096 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 89,445 | 119,642 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 324,888 | 343,381 |
Revolving Loans Amortized Cost Basis | 86,267 | 119,186 |
Total | 1,079,817 | 1,295,352 |
Risk Rated 3 [Member] | Residential Real Estate Loans [Member] | Multifamily Residential [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 8,496 | 19,033 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 10,243 | 60,175 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 35,143 | 87,104 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 34,974 | 11,477 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 9,825 | 8,092 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 46,473 | 59,592 |
Revolving Loans Amortized Cost Basis | 7,782 | 6,386 |
Total | 152,936 | 251,859 |
Risk Rated 3 [Member] | Consumer [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 153,432 | 229,189 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 189,046 | 192,054 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 147,510 | 152,646 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 116,833 | 97,812 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 72,351 | 68,585 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 102,108 | 68,871 |
Revolving Loans Amortized Cost Basis | 6,801 | 20,094 |
Total | 788,081 | 829,251 |
Risk Rated 3 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 75,240 | 80,586 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 77,113 | 131,717 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 95,166 | 62,814 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 52,322 | 35,651 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 25,516 | 39,502 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 55,060 | 52,743 |
Revolving Loans Amortized Cost Basis | 148,891 | 135,590 |
Total | 529,308 | 538,603 |
Risk Rated 3 [Member] | Agricultural and Other [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 58,313 | 78,305 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 60,137 | 7,045 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 5,395 | 5,050 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 7,572 | 5,045 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 2,187 | 18,445 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 50,145 | 36,925 |
Revolving Loans Amortized Cost Basis | 14,162 | 42,401 |
Total | 197,911 | 193,216 |
Risk Rated 4 [Member] | Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 106,983 | 27,239 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 35,274 | 139,354 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 120,584 | 161,461 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 257,933 | 265,684 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 112,120 | 197,979 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 358,937 | 300,055 |
Revolving Loans Amortized Cost Basis | 87 | 17,305 |
Total | 991,918 | 1,109,077 |
Risk Rated 4 [Member] | Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 117,314 | 129,599 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 215,084 | 417,737 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 501,761 | 92,032 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 45,824 | 46,249 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 40,377 | 17,161 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 39,461 | 32,060 |
Revolving Loans Amortized Cost Basis | 23,650 | 76,845 |
Total | 983,471 | 811,683 |
Risk Rated 4 [Member] | Commercial Real Estate Loans [Member] | Agricultural [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 4,389 | 2,141 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 2,120 | 535 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 367 | 1,206 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 1,164 | 681 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 771 | 5,499 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 30,233 | 10,735 |
Revolving Loans Amortized Cost Basis | 1,388 | 665 |
Total | 40,432 | 21,462 |
Risk Rated 4 [Member] | Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 8,346 | 4,626 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 4,250 | 12,716 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 6,071 | 32,594 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 17,677 | 20,687 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 23,144 | 16,148 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 60,710 | 68,328 |
Revolving Loans Amortized Cost Basis | 30,830 | 30,137 |
Total | 151,028 | 185,236 |
Risk Rated 4 [Member] | Residential Real Estate Loans [Member] | Multifamily Residential [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 477 | |
Term Loans Amortized Cost Basis by Origination Year 2020 | 11,271 | 6,358 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 27,202 | 101,364 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 3,435 | 93,475 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 3,009 | 1,924 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 21,128 | 17,672 |
Revolving Loans Amortized Cost Basis | 37,047 | 37,286 |
Total | 103,092 | 258,556 |
Risk Rated 4 [Member] | Consumer [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 2,993 | 3,699 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 1,107 | 3,479 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 3,110 | 2,769 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 1,908 | 1,411 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 185 | 1,371 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 2,407 | 1,991 |
Revolving Loans Amortized Cost Basis | 74 | 117 |
Total | 11,784 | 14,837 |
Risk Rated 4 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 132,855 | 68,032 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 35,907 | 144,867 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 107,294 | 149,445 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 98,787 | 42,416 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 35,085 | 15,138 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 37,893 | 43,065 |
Revolving Loans Amortized Cost Basis | 75,883 | 115,341 |
Total | 523,704 | 578,304 |
Risk Rated 4 [Member] | Agricultural and Other [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 6,034 | 1,043 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 376 | 5,041 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 157 | 1,592 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 1,542 | 1,096 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 1,408 | 895 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 1,487 | 1,703 |
Revolving Loans Amortized Cost Basis | 9,441 | 4,600 |
Total | 20,445 | 15,970 |
Risk Rated 5 [Member] | Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 10,591 | |
Term Loans Amortized Cost Basis by Origination Year 2020 | 10,825 | 16,865 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 2,308 | 67,089 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 20,791 | 7,764 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 37,848 | 108,885 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 197,539 | 84,609 |
Revolving Loans Amortized Cost Basis | 750 | |
Total | 269,311 | 296,553 |
Risk Rated 5 [Member] | Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2019 | 416 | 392 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 21,892 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 1,177 | 1,227 |
Revolving Loans Amortized Cost Basis | 1 | 545 |
Total | 1,594 | 24,056 |
Risk Rated 5 [Member] | Commercial Real Estate Loans [Member] | Agricultural [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year, Prior | 116 | |
Total | 116 | |
Risk Rated 5 [Member] | Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2019 | 3,064 | 1,363 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 1,506 | 4,700 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 529 | 383 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 5,114 | 5,344 |
Revolving Loans Amortized Cost Basis | 197 | 516 |
Total | 10,410 | 12,306 |
Risk Rated 5 [Member] | Residential Real Estate Loans [Member] | Multifamily Residential [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2018 | 7,621 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 8,170 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 24,945 | |
Total | 15,791 | 24,945 |
Risk Rated 5 [Member] | Consumer [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 144 | |
Term Loans Amortized Cost Basis by Origination Year 2020 | 116 | 737 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 22 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 99 | 198 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 172 | 568 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 134 | 321 |
Total | 521 | 1,990 |
Risk Rated 5 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 6,197 | 3,195 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 158 | 16,341 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 2,019 | 11,283 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 8,387 | 346 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 5,725 | 251 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 3,077 | 448 |
Revolving Loans Amortized Cost Basis | 672 | 10,637 |
Total | 26,235 | 42,501 |
Risk Rated 5 [Member] | Agricultural and Other [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year, Prior | 597 | 605 |
Total | 597 | 605 |
Risk Rated 6 [Member] | Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 859 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 15,219 | 2,289 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 1,803 | 987 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 11,939 | 4,577 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 34,797 | 40,600 |
Revolving Loans Amortized Cost Basis | 86 | |
Total | 63,758 | 49,398 |
Risk Rated 6 [Member] | Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 115 | 763 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 874 | 98 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 8 | 63 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 157 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 10,636 | 12,065 |
Total | 11,633 | 13,146 |
Risk Rated 6 [Member] | Commercial Real Estate Loans [Member] | Agricultural [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 47 | |
Term Loans Amortized Cost Basis by Origination Year 2020 | 45 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 1,359 | 1,345 |
Total | 1,404 | 1,392 |
Risk Rated 6 [Member] | Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 788 | 554 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 2,003 | 5,973 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 2,406 | 829 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 1,931 | 2,084 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 1,525 | 3,222 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 16,914 | 18,074 |
Revolving Loans Amortized Cost Basis | 6,933 | 10,257 |
Total | 32,500 | 40,993 |
Risk Rated 6 [Member] | Residential Real Estate Loans [Member] | Multifamily Residential [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2018 | 894 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 897 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 1,415 | 284 |
Total | 2,312 | 1,178 |
Risk Rated 6 [Member] | Consumer [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 12 | |
Term Loans Amortized Cost Basis by Origination Year 2020 | 46 | 361 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 347 | 566 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 120 | 3 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 2,052 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 1,641 | 2,468 |
Revolving Loans Amortized Cost Basis | 41 | 45 |
Total | 2,195 | 5,507 |
Risk Rated 6 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 1,222 | 1,261 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 15,430 | 4,086 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 6,736 | 30,834 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 25,441 | 22,992 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 5,570 | 2,615 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 4,633 | 5,198 |
Revolving Loans Amortized Cost Basis | 330 | 3,405 |
Total | 59,362 | 70,391 |
Risk Rated 6 [Member] | Agricultural and Other [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 219 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 27 | 18 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 14 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 33 | 223 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 586 | 1,624 |
Total | 660 | 2,084 |
Risk Rated 7 [Member] | Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year, Prior | 552 | |
Total | 552 | |
Risk Rated 7 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 3 | |
Term Loans Amortized Cost Basis by Origination Year 2018 | 1,777 | |
Total | 1,777 | 3 |
Risk Rated 8 [Member] | Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year, Prior | 82 | 14 |
Total | 82 | 14 |
Risk Rated 8 [Member] | Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2018 | 1 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 1 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 31 | |
Total | 1 | 32 |
Risk Rated 8 [Member] | Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2017 | 6 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 28 | 8 |
Revolving Loans Amortized Cost Basis | 144 | |
Total | 34 | 152 |
Risk Rated 8 [Member] | Consumer [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2017 | 1 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 1 | |
Total | 2 | |
Risk Rated 8 [Member] | Commercial and Industrial [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 1 | |
Term Loans Amortized Cost Basis by Origination Year 2020 | 2 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 1 | 1 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 4 | |
Term Loans Amortized Cost Basis by Origination Year, Prior | 1 | |
Revolving Loans Amortized Cost Basis | 2 | |
Total | $ 6 | $ 6 |
Allowance for Credit Losses, _9
Allowance for Credit Losses, Credit Quality and Other - Summary of Amortized Cost of Performing and Nonperforming Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | $ 1,431,831 | $ 2,139,414 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 1,394,222 | 1,890,351 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 1,652,386 | 1,766,304 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 1,260,249 | 1,149,024 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 764,623 | 973,616 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 2,481,919 | 2,265,964 |
Revolving Loans Amortized Cost Basis | 915,870 | 1,036,048 |
Total | 9,901,100 | 11,220,721 |
Commercial Real Estate Loans [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 579,801 | 715,849 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 802,580 | 1,106,817 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 1,064,469 | 971,679 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 764,977 | 668,877 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 479,325 | 653,276 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 1,720,827 | 1,505,545 |
Revolving Loans Amortized Cost Basis | 475,430 | 483,746 |
Total | 5,887,409 | 6,105,789 |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 289,385 | 339,067 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 326,262 | 497,640 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 452,111 | 777,509 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 677,375 | 560,608 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 409,759 | 600,924 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 1,573,325 | 1,368,279 |
Revolving Loans Amortized Cost Basis | 277,624 | 285,033 |
Total | 4,005,841 | 4,429,060 |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 289,385 | 339,067 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 316,115 | 497,640 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 437,231 | 775,220 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 657,174 | 560,279 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 371,874 | 598,074 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 1,406,655 | 1,326,404 |
Revolving Loans Amortized Cost Basis | 277,624 | 284,947 |
Total | 3,756,058 | 4,381,631 |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Non-performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 10,147 | |
Term Loans Amortized Cost Basis by Origination Year 2019 | 14,880 | 2,289 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 20,201 | 329 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 37,885 | 2,850 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 166,670 | 41,875 |
Revolving Loans Amortized Cost Basis | 86 | |
Total | 249,783 | 47,429 |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 267,934 | 341,166 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 443,445 | 599,757 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 603,986 | 183,845 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 79,765 | 102,191 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 63,383 | 42,918 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 94,372 | 99,911 |
Revolving Loans Amortized Cost Basis | 189,802 | 192,510 |
Total | 1,742,687 | 1,562,298 |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 267,934 | 341,166 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 443,330 | 598,995 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 602,793 | 183,821 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 79,757 | 102,127 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 63,382 | 42,779 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 90,488 | 94,888 |
Revolving Loans Amortized Cost Basis | 189,802 | 192,510 |
Total | 1,737,486 | 1,556,286 |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Non-performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2020 | 115 | 762 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 1,193 | 24 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 8 | 64 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 1 | 139 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 3,884 | 5,023 |
Total | 5,201 | 6,012 |
Commercial Real Estate Loans [Member] | Agricultural [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 22,482 | 35,616 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 32,873 | 9,420 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 8,372 | 10,325 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 7,837 | 6,078 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 6,183 | 9,434 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 53,130 | 37,355 |
Revolving Loans Amortized Cost Basis | 8,004 | 6,203 |
Total | 138,881 | 114,431 |
Commercial Real Estate Loans [Member] | Agricultural [Member] | Performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 22,482 | 35,616 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 32,873 | 9,420 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 8,372 | 10,325 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 7,837 | 6,078 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 6,183 | 9,434 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 52,387 | 36,476 |
Revolving Loans Amortized Cost Basis | 8,004 | 6,203 |
Total | 138,138 | 113,552 |
Commercial Real Estate Loans [Member] | Agricultural [Member] | Non-performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year, Prior | 743 | 879 |
Total | 743 | 879 |
Residential Real Estate Loans [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 8,496 | 19,510 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 21,514 | 66,533 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 62,345 | 188,468 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 46,030 | 105,846 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 21,901 | 10,016 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 69,016 | 102,493 |
Revolving Loans Amortized Cost Basis | 44,829 | 43,672 |
Total | 274,131 | 536,538 |
Residential Real Estate Loans [Member] | Performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 8,496 | 19,510 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 21,514 | 66,533 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 62,345 | 188,468 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 46,030 | 105,846 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 21,901 | 10,016 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 68,855 | 102,320 |
Revolving Loans Amortized Cost Basis | 44,829 | 43,672 |
Total | 273,970 | 536,365 |
Residential Real Estate Loans [Member] | Non-performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year, Prior | 161 | 173 |
Total | 161 | 173 |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 182,846 | 243,171 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 159,513 | 203,314 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 152,328 | 186,264 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 132,572 | 166,567 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 114,649 | 139,471 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 407,763 | 435,570 |
Revolving Loans Amortized Cost Basis | 124,317 | 161,900 |
Total | 1,273,988 | 1,536,257 |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 182,588 | 242,505 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 156,843 | 196,951 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 150,130 | 185,316 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 131,375 | 161,274 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 113,265 | 137,840 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 400,128 | 425,056 |
Revolving Loans Amortized Cost Basis | 118,266 | 154,902 |
Total | 1,252,595 | 1,503,844 |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Non-performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 258 | 666 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 2,670 | 6,363 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 2,198 | 948 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 1,197 | 5,293 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 1,384 | 1,631 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 7,635 | 10,514 |
Revolving Loans Amortized Cost Basis | 6,051 | 6,998 |
Total | 21,393 | 32,413 |
Total Real Estate [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 771,143 | 978,530 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 983,607 | 1,376,664 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 1,279,142 | 1,346,411 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 943,579 | 941,290 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 615,875 | 802,763 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 2,197,606 | 2,043,608 |
Revolving Loans Amortized Cost Basis | 644,576 | 689,318 |
Total | 7,435,528 | 8,178,584 |
Consumer [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 159,355 | 236,433 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 192,424 | 199,053 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 152,568 | 158,530 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 120,671 | 99,909 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 72,968 | 73,404 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 108,077 | 75,091 |
Revolving Loans Amortized Cost Basis | 8,669 | 22,270 |
Total | 814,732 | 864,690 |
Consumer [Member] | Performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 159,355 | 236,395 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 192,386 | 198,737 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 152,253 | 158,324 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 120,554 | 99,905 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 72,967 | 71,924 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 106,619 | 73,448 |
Revolving Loans Amortized Cost Basis | 8,662 | 22,263 |
Total | 812,796 | 860,996 |
Consumer [Member] | Non-performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 38 | |
Term Loans Amortized Cost Basis by Origination Year 2020 | 38 | 316 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 315 | 206 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 117 | 4 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 1 | 1,480 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 1,458 | 1,643 |
Revolving Loans Amortized Cost Basis | 7 | 7 |
Total | 1,936 | 3,694 |
Commercial and Industrial [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 425,755 | 785,839 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 157,475 | 297,707 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 211,587 | 254,650 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 186,871 | 101,684 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 72,152 | 77,776 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 122,401 | 103,522 |
Revolving Loans Amortized Cost Basis | 237,838 | 275,264 |
Total | 1,414,079 | 1,896,442 |
Commercial and Industrial [Member] | Performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 425,755 | 785,776 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 157,273 | 293,938 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 207,163 | 246,177 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 177,113 | 98,664 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 69,338 | 76,427 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 119,460 | 100,050 |
Revolving Loans Amortized Cost Basis | 237,713 | 274,383 |
Total | 1,393,815 | 1,875,415 |
Commercial and Industrial [Member] | Non-performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 63 | |
Term Loans Amortized Cost Basis by Origination Year 2020 | 202 | 3,769 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 4,424 | 8,473 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 9,758 | 3,020 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 2,814 | 1,349 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 2,941 | 3,472 |
Revolving Loans Amortized Cost Basis | 125 | 881 |
Total | 20,264 | 21,027 |
Agricultural and Other [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 75,578 | 138,612 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 60,716 | 16,927 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 9,089 | 6,713 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 9,128 | 6,141 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 3,628 | 19,673 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 53,835 | 43,743 |
Revolving Loans Amortized Cost Basis | 24,787 | 49,196 |
Total | 236,761 | 281,005 |
Agricultural and Other [Member] | Performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2021 | 75,578 | 138,612 |
Term Loans Amortized Cost Basis by Origination Year 2020 | 60,716 | 16,927 |
Term Loans Amortized Cost Basis by Origination Year 2019 | 9,062 | 6,695 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 8,859 | 6,141 |
Term Loans Amortized Cost Basis by Origination Year 2017 | 3,595 | 19,450 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 53,566 | 42,927 |
Revolving Loans Amortized Cost Basis | 24,778 | 49,196 |
Total | 236,154 | 279,948 |
Agricultural and Other [Member] | Non-performing [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Term Loans Amortized Cost Basis by Origination Year 2019 | 27 | 18 |
Term Loans Amortized Cost Basis by Origination Year 2018 | 269 | |
Term Loans Amortized Cost Basis by Origination Year 2017 | 33 | 223 |
Term Loans Amortized Cost Basis by Origination Year, Prior | 269 | 816 |
Revolving Loans Amortized Cost Basis | 9 | |
Total | $ 607 | $ 1,057 |
Allowance for Credit Losses,_10
Allowance for Credit Losses, Credit Quality and Other - Presentation of Troubled Debt Restructurings ("TDRs") by Class (Detail) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021USD ($)Contract | Dec. 31, 2020USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 47 | 51 |
Pre-Modification Outstanding Balance | $ 11,594 | $ 17,250 |
Post-Modification Outstanding Balance | 6,728 | 12,316 |
Rate Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 5,312 | 6,380 |
Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 874 | 682 |
Rate and Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | $ 542 | $ 5,254 |
Consumer [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 4 | 1 |
Pre-Modification Outstanding Balance | $ 22 | $ 17 |
Post-Modification Outstanding Balance | 17 | 14 |
Consumer [Member] | Rate Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 14 | $ 14 |
Consumer [Member] | Rate and Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | $ 3 | |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 12 | 14 |
Pre-Modification Outstanding Balance | $ 6,119 | $ 11,510 |
Post-Modification Outstanding Balance | 4,381 | 9,456 |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Rate Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 3,666 | 4,350 |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 628 | 383 |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Rate and Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | $ 87 | $ 4,723 |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 3 | 2 |
Pre-Modification Outstanding Balance | $ 322 | $ 58 |
Post-Modification Outstanding Balance | 218 | 16 |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Rate Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 216 | |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | $ 2 | 7 |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Rate and Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | $ 9 | |
Commercial Real Estate Loans [Member] | Agricultural [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 1 | 1 |
Pre-Modification Outstanding Balance | $ 282 | $ 282 |
Post-Modification Outstanding Balance | 262 | 267 |
Commercial Real Estate Loans [Member] | Agricultural [Member] | Rate Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | $ 262 | $ 267 |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 18 | 21 |
Pre-Modification Outstanding Balance | $ 2,495 | $ 2,913 |
Post-Modification Outstanding Balance | 1,484 | 2,037 |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Rate Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 953 | 1,441 |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 157 | 165 |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Rate and Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | $ 374 | $ 431 |
Total Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 34 | 38 |
Pre-Modification Outstanding Balance | $ 9,218 | $ 14,763 |
Post-Modification Outstanding Balance | 6,345 | 11,776 |
Total Real Estate [Member] | Rate Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 5,097 | 6,058 |
Total Real Estate [Member] | Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 787 | 555 |
Total Real Estate [Member] | Rate and Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | $ 461 | $ 5,163 |
Commercial and Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 9 | 12 |
Pre-Modification Outstanding Balance | $ 2,354 | $ 2,470 |
Post-Modification Outstanding Balance | 366 | 526 |
Commercial and Industrial [Member] | Rate Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 201 | 308 |
Commercial and Industrial [Member] | Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | 87 | 127 |
Commercial and Industrial [Member] | Rate and Term Modification [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Post-Modification Outstanding Balance | $ 78 | $ 91 |
Allowance for Credit Losses,_11
Allowance for Credit Losses, Credit Quality and Other - Presentation of TDR's on Non-Accrual Status (Detail) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021USD ($)Contract | Dec. 31, 2020USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 20 | 19 |
Recorded Balance | $ | $ 1,149 | $ 1,587 |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 2 | 2 |
Recorded Balance | $ | $ 9 | $ 350 |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 2 | 1 |
Recorded Balance | $ | $ 216 | $ 9 |
Commercial Real Estate Loans [Member] | Agricultural [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 1 | 1 |
Recorded Balance | $ | $ 262 | $ 267 |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 6 | 7 |
Recorded Balance | $ | $ 405 | $ 547 |
Total Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 11 | 11 |
Recorded Balance | $ | $ 892 | $ 1,173 |
Consumer [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 3 | |
Recorded Balance | $ | $ 3 | |
Commercial and Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contract | 6 | 8 |
Recorded Balance | $ | $ 254 | $ 414 |
Allowance for Credit Losses,_12
Allowance for Credit Losses, Credit Quality and Other - Summary of Total Foreclosed Assets (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | ||
Schedule Of Foreclosed Assets Activity [Line Items] | ||
Total foreclosed assets held for sale | $ 261 | $ 438 |
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | ||
Schedule Of Foreclosed Assets Activity [Line Items] | ||
Total foreclosed assets held for sale | 835 | 3,189 |
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | ||
Schedule Of Foreclosed Assets Activity [Line Items] | ||
Total foreclosed assets held for sale | 75 | 793 |
Total Real Estate [Member] | ||
Schedule Of Foreclosed Assets Activity [Line Items] | ||
Total foreclosed assets held for sale | $ 1,171 | $ 4,420 |
Goodwill and Core Deposits an_3
Goodwill and Core Deposits and Other Intangibles - Summary of Changes in Carrying Amount and Accumulated Amortization of Company's Goodwill and Core Deposits and Other Intangibles (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Goodwill | ||||||
Balance, beginning of period | $ 973,025 | $ 958,408 | $ 958,408 | |||
Acquisitions | 14,617 | |||||
Balance, end of period | $ 973,025 | $ 973,025 | 973,025 | 973,025 | ||
Core Deposit and Other Intangibles | ||||||
Balance, beginning of period | 32,149 | 30,728 | 36,572 | 36,572 | ||
Amortization expense | (1,421) | (1,421) | $ (1,420) | (4,262) | (4,423) | |
Balance, end of year | $ 26,466 | $ 30,728 | $ 32,149 | $ 26,466 | $ 32,149 | $ 30,728 |
Goodwill and Core Deposits an_4
Goodwill and Core Deposits and Other Intangibles - Summary of Carrying Amount and Accumulated Amortization of Core Deposits and Other Intangibles (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Dec. 31, 2019 |
Goodwill And Intangible Assets Disclosure [Abstract] | ||||
Gross carrying basis | $ 86,625 | $ 86,625 | ||
Accumulated amortization | (60,159) | (55,897) | ||
Net carrying amount | $ 26,466 | $ 30,728 | $ 32,149 | $ 36,572 |
Goodwill and Core Deposits an_5
Goodwill and Core Deposits and Other Intangibles - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2019 | |
Goodwill And Intangible Assets Disclosure [Abstract] | ||||||
Core deposit and other intangible amortization | $ 1,421 | $ 1,421 | $ 1,420 | $ 4,262 | $ 4,423 | |
Amortization expense for year 2021 | 5,700 | 5,700 | ||||
Amortization expense for year 2022 | 5,700 | 5,700 | ||||
Amortization expense for year 2023 | 5,500 | 5,500 | ||||
Amortization expense for year 2024 | 4,300 | 4,300 | ||||
Amortization expense for year 2025 | 3,900 | 3,900 | ||||
Carrying amount of Company's goodwill | $ 973,025 | $ 973,025 | $ 973,025 | $ 958,408 |
Other Assets - Additional Infor
Other Assets - Additional Information (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Schedule Of Other Assets [Line Items] | ||
Other assets | $ 171,192 | $ 164,904 |
Federal Home Loan Bank ("FHLB") and Federal Reserve Bank ("Federal Reserve") [Member] | ||
Schedule Of Other Assets [Line Items] | ||
Fair value of equity securities | 88,100 | 86,700 |
First National Bankers' Bank and Other Miscellaneous Holdings [Member] | ||
Schedule Of Other Assets [Line Items] | ||
Fair value of equity securities | $ 34,800 | $ 28,200 |
Deposits - Additional Informati
Deposits - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Deposits [Line Items] | |||||
Time deposits with a minimum denomination of $250,000 | $ 476,600 | $ 476,600 | $ 558,000 | ||
Time deposits with a minimum denomination of $100,000 | 701,300 | 701,300 | 864,300 | ||
Interest expense applicable to certificate | 1,700 | $ 5,600 | 6,100 | $ 18,800 | |
Brokered deposits | 625,700 | 625,700 | 635,700 | ||
Total deposits | $ 14,003,371 | $ 14,003,371 | 12,725,790 | ||
State and Political Subdivisions [Member] | |||||
Deposits [Line Items] | |||||
Total deposits | $ 1,860,000 | $ 1,860,000 | $ 1,980,000 |
Securities Sold Under Agreeme_3
Securities Sold Under Agreements to Repurchase - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Securities Sold Under Agreements To Repurchase [Abstract] | |||||
Securities sold under agreements to repurchase | $ 141,002 | $ 141,002 | $ 168,931 | ||
Securities sold under agreements to repurchase daily weighted average | $ 143,900 | $ 157,200 | $ 153,700 | $ 150,000 |
Securities Sold Under Agreeme_4
Securities Sold Under Agreements to Repurchase - Summary of Remaining Contractual Maturity of Securities Sold Under Agreements to Repurchase (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | $ 141,002 | $ 168,931 |
Overnight and Continuous [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 141,002 | 168,931 |
U.S. Government-Sponsored Enterprises [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 8,753 | 11,166 |
U.S. Government-Sponsored Enterprises [Member] | Overnight and Continuous [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 8,753 | 11,166 |
Mortgage-Backed Securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 7,979 | 18,830 |
Mortgage-Backed Securities [Member] | Overnight and Continuous [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 7,979 | 18,830 |
State and Political Subdivisions [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 121,412 | 135,308 |
State and Political Subdivisions [Member] | Overnight and Continuous [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 121,412 | 135,308 |
Other Securities [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | 2,858 | 3,627 |
Other Securities [Member] | Overnight and Continuous [Member] | ||
Assets Sold under Agreements to Repurchase [Line Items] | ||
Total borrowings | $ 2,858 | $ 3,627 |
FHLB and Other Borrowed Funds -
FHLB and Other Borrowed Funds - Additional Information (Detail) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Borrowed Funds [Line Items] | ||
FHLB borrowed funds | $ 400,000,000 | $ 400,000,000 |
Maturity of FHLB advances | 2033 | |
Other short term borrowings | $ 0 | 0 |
Line of credit | 1,120,000,000 | 1,110,000,000 |
Line of Credit [Member] | ||
Borrowed Funds [Line Items] | ||
Line of credit | 0 | $ 0 |
Credit facility, maximum borrowing capacity | $ 20,000,000 | |
Minimum [Member] | ||
Borrowed Funds [Line Items] | ||
FHLB interest rate | 1.76% | |
Maximum [Member] | ||
Borrowed Funds [Line Items] | ||
FHLB interest rate | 2.26% |
Subordinated Debentures - Prefe
Subordinated Debentures - Preferred Trust Securities and Subordinated Debt Securities (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Debt Instrument [Line Items] | ||
Subordinated debentures, issued | $ 370,900 | $ 370,326 |
Due 2036, fixed rate of 6.75% during the first five years and at a floating rate of 1.85% [Member] | Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued | 3,093 | 3,093 |
Due 2034, fixed rate of 6.00% during the first five years and at a floating rate of 2.00% [Member] | Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued | 15,464 | 15,464 |
Due 2035, fixed rate of 5.84% during the first five years and at a floating rate of 1.45% [Member] | Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued | 25,774 | 25,774 |
Due 2034, fixed rate of 4.29% during the first five years and at a floating rate of 2.50% [Member] | Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued | 16,495 | 16,495 |
Due 2035, floating rate 2.15% [Member] | Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued | 4,489 | 4,452 |
Due 2036, fixed Rate 7.38% during the first five years and at a floating rate of 1.62% [Member] | Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued | 5,919 | 5,849 |
Due 2027, Fixed Rate of 5.625% During the First Five Years and at a Floating Rate of 3.575% [Member] | Subordinated Debt [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued | $ 299,666 | $ 299,199 |
Subordinated Debentures - Pre_2
Subordinated Debentures - Preferred Trust Securities and Subordinated Debt Securities (Parenthetical) (Detail) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Due 2036, fixed rate of 6.75% during the first five years and at a floating rate of 1.85% [Member] | Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued date | Dec. 31, 2006 | Dec. 31, 2006 |
Subordinated debentures, due date | Dec. 31, 2036 | Dec. 31, 2036 |
Fixed rate for first five years | 6.75% | 6.75% |
Due 2036, fixed rate of 6.75% during the first five years and at a floating rate of 1.85% [Member] | Trust Preferred Securities [Member] | LIBOR [Member] | ||
Debt Instrument [Line Items] | ||
Floating rate above three-month LIBOR rate | 1.85% | 1.85% |
Due 2034, fixed rate of 6.00% during the first five years and at a floating rate of 2.00% [Member] | Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued date | Dec. 31, 2004 | Dec. 31, 2004 |
Subordinated debentures, due date | Dec. 31, 2034 | Dec. 31, 2034 |
Fixed rate for first five years | 6.00% | 6.00% |
Due 2034, fixed rate of 6.00% during the first five years and at a floating rate of 2.00% [Member] | Trust Preferred Securities [Member] | LIBOR [Member] | ||
Debt Instrument [Line Items] | ||
Floating rate above three-month LIBOR rate | 2.00% | 2.00% |
Due 2035, fixed rate of 5.84% during the first five years and at a floating rate of 1.45% [Member] | Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued date | Dec. 31, 2005 | Dec. 31, 2005 |
Subordinated debentures, due date | Dec. 31, 2035 | Dec. 31, 2035 |
Fixed rate for first five years | 5.84% | 5.84% |
Due 2035, fixed rate of 5.84% during the first five years and at a floating rate of 1.45% [Member] | Trust Preferred Securities [Member] | LIBOR [Member] | ||
Debt Instrument [Line Items] | ||
Floating rate above three-month LIBOR rate | 1.45% | 1.45% |
Due 2034, fixed rate of 4.29% during the first five years and at a floating rate of 2.50% [Member] | Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued date | Dec. 31, 2004 | Dec. 31, 2004 |
Subordinated debentures, due date | Dec. 31, 2034 | Dec. 31, 2034 |
Fixed rate for first five years | 4.29% | 4.29% |
Due 2034, fixed rate of 4.29% during the first five years and at a floating rate of 2.50% [Member] | Trust Preferred Securities [Member] | LIBOR [Member] | ||
Debt Instrument [Line Items] | ||
Floating rate above three-month LIBOR rate | 2.50% | 2.50% |
Due 2035, floating rate 2.15% [Member] | Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued date | Dec. 31, 2005 | Dec. 31, 2005 |
Subordinated debentures, due date | Dec. 31, 2035 | Dec. 31, 2035 |
Due 2035, floating rate 2.15% [Member] | Trust Preferred Securities [Member] | LIBOR [Member] | ||
Debt Instrument [Line Items] | ||
Floating rate above three-month LIBOR rate | 2.15% | 2.15% |
Due 2036, fixed Rate 7.38% during the first five years and at a floating rate of 1.62% [Member] | Trust Preferred Securities [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued date | Dec. 31, 2006 | Dec. 31, 2006 |
Subordinated debentures, due date | Dec. 31, 2036 | Dec. 31, 2036 |
Fixed rate for first five years | 7.38% | 7.38% |
Due 2036, fixed Rate 7.38% during the first five years and at a floating rate of 1.62% [Member] | Trust Preferred Securities [Member] | LIBOR [Member] | ||
Debt Instrument [Line Items] | ||
Floating rate above three-month LIBOR rate | 1.62% | 1.62% |
Due 2027, Fixed Rate of 5.625% During the First Five Years and at a Floating Rate of 3.575% [Member] | Subordinated Debt [Member] | ||
Debt Instrument [Line Items] | ||
Subordinated debentures, issued date | Dec. 31, 2017 | Dec. 31, 2017 |
Subordinated debentures, due date | Dec. 31, 2027 | Dec. 31, 2027 |
Fixed rate for first five years | 5.625% | 5.625% |
Due 2027, Fixed Rate of 5.625% During the First Five Years and at a Floating Rate of 3.575% [Member] | Subordinated Debt [Member] | LIBOR [Member] | ||
Debt Instrument [Line Items] | ||
Floating rate above three-month LIBOR rate | 3.575% | 3.575% |
Subordinated debentures, callable year | 2022 | 2022 |
Subordinated Debentures - Addit
Subordinated Debentures - Additional Information (Detail) - USD ($) $ in Thousands | Apr. 03, 2017 | Sep. 30, 2021 | Dec. 31, 2020 |
Debt Instrument [Line Items] | |||
Assets | $ 17,765,056 | $ 16,398,804 | |
Trust Preferred Securities [Member] | |||
Debt Instrument [Line Items] | |||
Face value of company held trust preferred securities | 73,300 | ||
Assets | $ 15,000,000 | ||
5.625% Fixed-to-Floating Rate Subordinated Notes due 2027 [Member] | |||
Debt Instrument [Line Items] | |||
Trust preferred securities, face amount | $ 300,000 | ||
Subordinated debt issuance date | Apr. 3, 2017 | ||
Subordinated notes, Interest rate | 5.625% | ||
Net proceeds from subordinated debt issuance, after underwriting discounts | $ 297,000 | ||
Subordinated notes, Maturity date | Apr. 15, 2027 | ||
Notes issued, Interest rate terms | From and including April 15, 2022 to, but excluding the maturity date or earlier redemption, the Notes will bear interest at a floating rate equal to three-month LIBOR as calculated on each applicable date of determination plus a spread of 3.575%; provided, however, that in the event three-month LIBOR is less than zero, then three-month LIBOR shall be deemed to be zero | ||
Percentage of redemption price on principal | 100.00% | ||
5.625% Fixed-to-Floating Rate Subordinated Notes due 2027 [Member] | LIBOR [Member] | |||
Debt Instrument [Line Items] | |||
LIBOR plus rate, Percentage | 3.575% |
Income Taxes - Summary of Compo
Income Taxes - Summary of Components of Provision (Benefit) for Income Taxes (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Current: | ||||
Federal | $ 14,693 | $ 16,271 | $ 52,771 | $ 57,154 |
State | 4,864 | 5,386 | 17,470 | 18,921 |
Total current | 19,557 | 21,657 | 70,241 | 76,075 |
Deferred: | ||||
Federal | 2,744 | (451) | 5,211 | (29,071) |
State | 908 | (149) | 1,725 | (9,624) |
Total deferred | 3,652 | (600) | 6,936 | (38,695) |
Income tax expense | $ 23,209 | $ 21,057 | $ 77,177 | $ 37,380 |
Income Taxes - Reconciliation b
Income Taxes - Reconciliation between Statutory Federal Income Tax Rate and Effective Income Tax Rate (Detail) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Effective Income Tax Rate Continuing Operations Tax Rate Reconciliation [Abstract] | ||||
Statutory federal income tax rate | 21.00% | 21.00% | 21.00% | 21.00% |
Effect of non-taxable interest income | (1.08%) | (1.03%) | (1.00%) | (1.48%) |
Stock compensation | 0.16% | 1.17% | 0.23% | 0.53% |
State income taxes, net of federal benefit | 3.50% | 3.82% | 4.00% | 3.00% |
Executive officer compensation & other | 0.05% | (1.66%) | (0.32%) | (1.07%) |
Effective income tax rate | 23.63% | 23.30% | 23.91% | 21.98% |
Income Taxes - Differences Betw
Income Taxes - Differences Between Tax Basis of Assets and Liabilities (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Deferred tax assets: | ||
Allowance for credit losses | $ 69,135 | $ 72,445 |
Deferred compensation | 4,751 | 4,741 |
Stock compensation | 5,475 | 4,768 |
Non-accrual interest income | 853 | 775 |
Real estate owned | 109 | 620 |
Loan discounts | 4,151 | 6,806 |
Tax basis premium/discount on acquisitions | 3,693 | 5,101 |
Investments | 273 | 502 |
Deposits | (57) | (33) |
Other | 5,259 | 5,855 |
Gross deferred tax assets | 93,642 | 101,580 |
Deferred tax liabilities: | ||
Accelerated depreciation on premises and equipment | 264 | 1,929 |
Unrealized gain on securities | 9,735 | 15,072 |
Core deposit intangibles | 6,066 | 7,056 |
FHLB dividends | 2,807 | 2,711 |
Other | 5,046 | 4,563 |
Gross deferred tax liabilities | 23,918 | 31,331 |
Net deferred tax assets | $ 69,724 | $ 70,249 |
Common Stock, Compensation Pl_3
Common Stock, Compensation Plans and Other - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Mar. 31, 2020 | Sep. 30, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Common stock, shares authorized | 300,000,000 | 300,000,000 | 300,000,000 | ||||
Common stock, par value | $ 0.01 | $ 0.01 | $ 0.01 | ||||
Preferred stock, shares authorized | 5,500,000 | 5,500,000 | |||||
Preferred stock, par value | $ 0.01 | $ 0.01 | |||||
Number of shares repurchased during period | 476,500 | 635,000 | 330,000 | 1,423,560 | 1,400,000 | ||
Weighted average stock price | $ 25.64 | ||||||
Remaining balance available for repurchase | 22,402,165 | 22,402,165 | |||||
Repurchase of combining of all the shares | 17,349,835 | ||||||
Maximum number of shares available for grants under the plan | 13,288,000 | 13,288,000 | |||||
Remaining shares of common stock available for future grants | 1,602,000 | 1,602,000 | |||||
Stock options outstanding | 3,041,000 | 3,041,000 | 3,254,000 | 3,411,000 | |||
Shares of common stock reserved for issuance | 4,643,000 | 4,643,000 | |||||
Intrinsic value of stock options outstanding | $ 10.9 | $ 10.9 | |||||
Intrinsic value of stock options vested | 9.7 | 9.7 | |||||
Intrinsic value of stock options exercised | 1.7 | ||||||
Unrecognized compensation cost net of income tax benefit, related to non-vested awards | 6.5 | $ 6.5 | |||||
Weighted average fair value of options granted (split adjusted) | $ 11.11 | ||||||
Options granted during the period | 15,000 | 0 | |||||
Restricted Shares [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Unrecognized compensation cost net of income tax benefit, related to non-vested stock option awards | $ 16.6 | $ 16.6 |
Common Stock, Compensation Pl_4
Common Stock, Compensation Plans and Other - Summary of Stock Option Transactions under Plan (Detail) - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ||
Outstanding, beginning of year | 3,254,000 | 3,411,000 |
Granted Shares | 15,000 | 0 |
Forfeited/Expired Shares | (47,000) | (76,000) |
Exercised Shares | (181,000) | (81,000) |
Outstanding, end of year | 3,041,000 | 3,254,000 |
Exercisable, end of year | 1,552,000 | 1,537,000 |
Outstanding Weighted Average Exercisable Price, beginning of year | $ 19.77 | $ 19.60 |
Weighted Average Exercisable Price, Granted | 21.68 | |
Weighted Average Exercisable Price, Forfeited/Expired | 22.25 | 21.95 |
Weighted Average Exercisable Price, Exercised | 15.27 | 10.61 |
Outstanding Weighted Average Exercisable Price, end of year | 20.01 | 19.77 |
Exercisable Weighted Average Exercisable Price, end of year | $ 17.37 | $ 16.82 |
Common Stock, Compensation Pl_5
Common Stock, Compensation Plans and Other - Summary of Stock Options on Valuation Assumptions (Detail) | 9 Months Ended |
Sep. 30, 2021 | |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions And Methodology [Abstract] | |
Expected dividend yield | 2.59% |
Expected stock price volatility | 70.13% |
Risk-free interest rate | 0.75% |
Expected life of options | 6 years 6 months |
Common Stock, Compensation Pl_6
Common Stock, Compensation Plans and Other - Summary of Currently Outstanding and Exercisable Options (Detail) shares in Thousands | 9 Months Ended |
Sep. 30, 2021$ / sharesshares | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |
Options Outstanding Shares | shares | 3,041 |
Options Exercisable Shares | shares | 1,552 |
Exercise Prices Range $6.56 to $8.62 [Member] | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | $ 6.56 |
Exercise Prices, Upper Range Limit | $ 8.62 |
Options Outstanding Shares | shares | 164 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 1 year 1 month 24 days |
Options outstanding Weighted- Average Exercise Price | $ 8.32 |
Options Exercisable Shares | shares | 164 |
Options Exercisable Weighted- Average Exercise Price | $ 8.32 |
Exercise Prices Range $9.54 to $14.71 [Member] | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | 9.54 |
Exercise Prices, Upper Range Limit | $ 14.71 |
Options Outstanding Shares | shares | 140 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 2 years 9 months 18 days |
Options outstanding Weighted- Average Exercise Price | $ 13.23 |
Options Exercisable Shares | shares | 140 |
Options Exercisable Weighted- Average Exercise Price | $ 13.23 |
Exercise Prices Range $16.77 to $16.86 [Member] | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | 16.77 |
Exercise Prices, Upper Range Limit | $ 16.86 |
Options Outstanding Shares | shares | 130 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 2 years 10 months 20 days |
Options outstanding Weighted- Average Exercise Price | $ 16.80 |
Options Exercisable Shares | shares | 130 |
Options Exercisable Weighted- Average Exercise Price | $ 16.80 |
Exercise Prices Range $17.12 to $17.36 [Member] | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | 17.12 |
Exercise Prices, Upper Range Limit | $ 17.36 |
Options Outstanding Shares | shares | 102 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 3 years 5 months 19 days |
Options outstanding Weighted- Average Exercise Price | $ 17.14 |
Options Exercisable Shares | shares | 102 |
Options Exercisable Weighted- Average Exercise Price | $ 17.14 |
Exercise Prices Range $17.40 to $18.46 [Member] | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | 17.40 |
Exercise Prices, Upper Range Limit | $ 18.46 |
Options Outstanding Shares | shares | 871 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 3 years 10 months 17 days |
Options outstanding Weighted- Average Exercise Price | $ 18.45 |
Options Exercisable Shares | shares | 738 |
Options Exercisable Weighted- Average Exercise Price | $ 18.45 |
Exercise Prices Range $18.50 to $20.16 [Member] | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | 18.50 |
Exercise Prices, Upper Range Limit | $ 20.16 |
Options Outstanding Shares | shares | 41 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 7 years 6 months 10 days |
Options outstanding Weighted- Average Exercise Price | $ 19.05 |
Options Exercisable Shares | shares | 14 |
Options Exercisable Weighted- Average Exercise Price | $ 19.04 |
Exercise Prices Range $20.58 to $21.25 [Member] | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | 20.58 |
Exercise Prices, Upper Range Limit | $ 21.25 |
Options Outstanding Shares | shares | 158 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 4 years 6 months 3 days |
Options outstanding Weighted- Average Exercise Price | $ 21.08 |
Options Exercisable Shares | shares | 143 |
Options Exercisable Weighted- Average Exercise Price | $ 21.12 |
Exercise Prices Range $21.31 to $22.22 [Member] | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | 21.31 |
Exercise Prices, Upper Range Limit | $ 22.22 |
Options Outstanding Shares | shares | 112 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 6 years 10 months 6 days |
Options outstanding Weighted- Average Exercise Price | $ 22.18 |
Options Exercisable Shares | shares | 60 |
Options Exercisable Weighted- Average Exercise Price | $ 22.22 |
Exercise Prices Range $22.70 to $23.32 [Member] | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | 22.70 |
Exercise Prices, Upper Range Limit | $ 23.32 |
Options Outstanding Shares | shares | 1,242 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 6 years 9 months 21 days |
Options outstanding Weighted- Average Exercise Price | $ 23.32 |
Options Exercisable Shares | shares | 1 |
Options Exercisable Weighted- Average Exercise Price | $ 22.70 |
Exercise Prices Range $23.51 to $25.96 [Member] | |
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items] | |
Exercise Prices, Lower Range Limit | 23.51 |
Exercise Prices, Upper Range Limit | $ 25.96 |
Options Outstanding Shares | shares | 81 |
Options Outstanding Weighted- Average Remaining Contractual Life (in years) | 5 years 8 months 19 days |
Options outstanding Weighted- Average Exercise Price | $ 25.63 |
Options Exercisable Shares | shares | 60 |
Options Exercisable Weighted- Average Exercise Price | $ 25.81 |
Common Stock, Compensation Pl_7
Common Stock, Compensation Plans and Other - Summary of Company's Restricted Stock Issued and Outstanding (Detail) - USD ($) shares in Thousands, $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ||
Beginning of year | 1,371 | 1,636 |
Issued | 215 | 264 |
Vested | (238) | (453) |
Forfeited | (26) | (76) |
End of year | 1,322 | 1,371 |
Amount of expense for nine months and twelve months ended, respectively | $ 5,307 | $ 6,824 |
Non-Interest Expense - Componen
Non-Interest Expense - Components of Non-Interest Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Noninterest Expense [Abstract] | |||||
Salaries and employee benefits | $ 42,469 | $ 41,511 | $ 126,990 | $ 120,928 | |
Occupancy and equipment | 9,305 | 9,566 | 27,584 | 28,611 | |
Data processing expense | 6,024 | 4,921 | 17,787 | 13,861 | |
Merger and acquisition expenses | 1,006 | 1,006 | 711 | ||
Other operating expenses: | |||||
Advertising | 1,204 | 902 | 3,444 | 2,923 | |
Amortization of intangibles | 1,421 | $ 1,421 | 1,420 | 4,262 | 4,423 |
Electronic banking expense | 2,521 | 2,426 | 7,375 | 6,195 | |
Directors’ fees | 395 | 429 | 1,192 | 1,265 | |
Due from bank service charges | 265 | 259 | 787 | 721 | |
FDIC and state assessment | 1,648 | 1,607 | 4,119 | 5,001 | |
Insurance | 749 | 766 | 2,317 | 2,223 | |
Legal and accounting | 1,050 | 1,235 | 2,954 | 3,432 | |
Other professional fees | 1,787 | 1,661 | 5,196 | 6,622 | |
Operating supplies | 474 | 460 | 1,426 | 1,548 | |
Postage | 301 | 328 | 931 | 968 | |
Telephone | 371 | 321 | 1,082 | 955 | |
Other expense | 4,629 | 3,900 | 13,015 | 12,757 | |
Total other operating expenses | 16,815 | 15,714 | 48,100 | 49,033 | |
Total non-interest expense | $ 75,619 | $ 71,712 | $ 221,467 | $ 213,144 |
Leases - Additional Information
Leases - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2021 | Dec. 31, 2020 | |
Leases [Abstract] | |||
Right of use asset | $ 40,800,000 | $ 40,800,000 | $ 40,200,000 |
Lease liability | 43,664,000 | 43,664,000 | $ 43,046,000 |
Lease rent expense | $ 36,000 | $ 107,000 | |
Lease expense rate | 1.64% | 1.59% |
Leases - Minimum Rental Commitm
Leases - Minimum Rental Commitment under Operating Leases (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Leases [Abstract] | ||
Remainder of fiscal year | $ 2,910 | |
Year 1 | 7,366 | $ 8,235 |
Year 2 | 6,535 | 6,486 |
Year 3 | 5,972 | 5,714 |
Year 4 | 5,510 | 5,262 |
After Year 4 | 30,388 | |
Year 5 | 4,818 | |
Thereafter | 27,453 | |
Total future minimum lease payments | 58,681 | 57,968 |
Discount effect of cash flows | (15,017) | (14,922) |
Present value of net future minimum lease payments | $ 43,664 | $ 43,046 |
Operating Lease, Liability, Statement of Financial Position [Extensible List] | us-gaap:OtherLiabilities | us-gaap:OtherLiabilities |
Leases - Additional Informati_2
Leases - Additional Information of Lease Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Lease expense: | ||||
Operating lease expense | $ 1,971 | $ 2,044 | $ 5,961 | $ 6,085 |
Short-term lease expense | 1 | 9 | 5 | 41 |
Variable lease expense | 250 | 253 | 759 | 772 |
Total lease expense | 2,222 | 2,306 | 6,725 | 6,898 |
Other information: | ||||
Cash paid for amounts included in the measurement of lease liabilities | $ 1,988 | $ 2,021 | $ 5,956 | $ 6,013 |
Weighted-average remaining lease term (in years) | 9 years 8 months 1 day | 10 years 29 days | 9 years 9 months 10 days | 10 years 2 months 15 days |
Weighted-average discount rate | 3.42% | 3.60% | 3.49% | 3.61% |
Significant Estimates and Con_2
Significant Estimates and Concentrations of Credit Risks - Additional Information (Detail) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Commitment And Contingencies [Line Items] | ||
Noninterest expense negative provision for unfunded commitments | $ 4.8 | |
Loans Receivable [Member] | Geographic Concentration [Member] | South Alabama, Arkansas, Florida and New York City [Member] | ||
Commitment And Contingencies [Line Items] | ||
Concentration percentage | 74.20% | |
Loans Receivable [Member] | Commercial Real Estate [Member] | Credit Concentration [Member] | ||
Commitment And Contingencies [Line Items] | ||
Concentration percentage | 59.50% | 54.40% |
Loans Receivable [Member] | Residential Real Estate [Member] | Credit Concentration [Member] | ||
Commitment And Contingencies [Line Items] | ||
Concentration percentage | 15.60% | 18.50% |
Total Stockholders' Equity [Member] | Commercial Real Estate [Member] | Credit Concentration [Member] | ||
Commitment And Contingencies [Line Items] | ||
Concentration percentage | 215.20% | 234.30% |
Total Stockholders' Equity [Member] | Residential Real Estate [Member] | Credit Concentration [Member] | ||
Commitment And Contingencies [Line Items] | ||
Concentration percentage | 56.60% | 79.60% |
Residential Real Estate Loans [Member] | Geographic Concentration [Member] | South Alabama, Arkansas, Florida and New York City [Member] | ||
Commitment And Contingencies [Line Items] | ||
Concentration percentage | 76.40% |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Commitments And Contingencies Disclosure [Abstract] | ||
Commitments to extend credit outstanding | $ 3,110,000,000 | $ 2,820,000,000 |
Maximum amount of future payments by the company | $ 90,600,000 | $ 56,100,000 |
Regulatory Matters - Additional
Regulatory Matters - Additional Information (Detail) $ in Thousands | Mar. 27, 2020 | Sep. 30, 2021USD ($) | Dec. 31, 2020USD ($) | Jan. 01, 2019 | Jan. 01, 2017 | Jan. 01, 2016 | Jul. 31, 2013USD ($) | Dec. 31, 2009USD ($) |
Regulatory Matters [Line Items] | ||||||||
Percentage of retained earnings plus current year earnings to be paid as maximum dividend | 75.00% | |||||||
Requested dividend by the company from its subsidiary | $ 195,600 | |||||||
Description of Regulatory Assets and Liabilities | 15 billion | |||||||
Assets | $ 17,765,056 | $ 16,398,804 | ||||||
Basel III [Member] | ||||||||
Regulatory Matters [Line Items] | ||||||||
Consolidated risk weighted asset | $ 500,000 | |||||||
Capital Required for Capital Adequacy to Risk Weighted Assets | 0.025 | |||||||
Capital conservation buffer, percentage | 0.00625 | |||||||
Increase in capital conservation buffer | 0.00625 | |||||||
Capital conservation buffer phase in period start date | Jan. 1, 2016 | |||||||
Capital conservation buffer phase in period end date | Jan. 1, 2019 | |||||||
Capital requirement, Ratio | 0.025 | |||||||
Description of Regulatory Assets and Liabilities | 15 billion | |||||||
Assets | $ 15,000,000 | |||||||
Basel III [Member] | Criteria 1 [Member] | ||||||||
Regulatory Matters [Line Items] | ||||||||
Tier 1 leverage capital ratio | 0.04 | |||||||
Tier 1 risk-based capital ratio | 0.045 | |||||||
Risk-based capital ratio | 0.06 | |||||||
Risk-based capital ratio | 0.08 | |||||||
Basel III [Member] | Criteria 2 [Member] | ||||||||
Regulatory Matters [Line Items] | ||||||||
Risk-based capital ratio | 0.1955 | |||||||
Common equity Tier 1 risk-based capital ratio | 0.065 | |||||||
Tier 1 leverage capital ratio | 0.05 | |||||||
Tier 1 risk-based capital ratio | 0.08 | |||||||
Total risk-based capital ratio | 0.10 | |||||||
Common equity Tier 1 risk-based capital ratio | 0.1512 | |||||||
Tier 1 leverage capital ratio | 0.1100 | |||||||
Tier 1 risk-based capital ratio | 0.1573 | |||||||
CECL [Member] | COVID -19 [Member] | ||||||||
Regulatory Matters [Line Items] | ||||||||
Allowable percentage of bank holding companies impact | 100.00% | |||||||
Percentage of allowance for credit losses | 25.00% |
Additional Cash Flow Informat_3
Additional Cash Flow Information - Additional Information (Detail) - LH-Finance [Member] $ in Millions | Feb. 29, 2020USD ($) |
Supplemental Cash Flow Information [Line Items] | |
Business combination, recognized identifiable assets acquired, Total Assets | $ 409.1 |
Cash paid for acquisition | 421.2 |
Business combination, recognized identifiable liabilities assumed, Loans | $ 407.4 |
Additional Cash Flow Informat_4
Additional Cash Flow Information - Summary of Additional Cash Flow Information (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Additional Cash Flow Elements And Supplemental Cash Flow Information [Abstract] | ||
Interest paid | $ 36,757 | $ 72,909 |
Income taxes paid | 82,245 | 54,698 |
Assets acquired by foreclosure | $ 2,058 | $ 1,673 |
Financial Instruments - Additio
Financial Instruments - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Percentage of discount of par for impaired loans | 15.00% | 15.00% | |||
Carrying value of foreclosed assets held for sale | $ 0 | $ 0 | |||
Minimum [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Percentage of Collateral discount | 25.00% | ||||
Maximum [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Percentage of Collateral discount | 55.00% | ||||
Fair Value, Level 3 Inputs [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair value of loans with specific allocated losses | 252,800,000 | $ 252,800,000 | $ 102,100,000 | ||
Accrued interest receivable reversed | 92,000 | $ 388,000 | 276,000 | $ 811,000 | |
Fair value of foreclosed assets held for sale | $ 1,200,000 | $ 1,200,000 | $ 4,400,000 |
Financial Instruments - Estimat
Financial Instruments - Estimated Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Fair Value, Inputs, Level 1 [Member] | Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | $ 3,280,256 | $ 1,263,788 |
Accrued interest receivable | 48,577 | 60,528 |
Demand and non-interest bearing | 4,139,149 | 3,266,753 |
Savings and interest-bearing transaction accounts | 8,813,326 | 8,212,240 |
Securities sold under agreements to repurchase | 141,002 | 168,931 |
Accrued interest payable | 9,409 | 5,925 |
Fair Value, Inputs, Level 1 [Member] | Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 3,280,256 | 1,263,788 |
Accrued interest receivable | 48,577 | 60,528 |
Demand and non-interest bearing | 4,139,149 | 3,266,753 |
Savings and interest-bearing transaction accounts | 8,813,326 | 8,212,240 |
Securities sold under agreements to repurchase | 141,002 | 168,931 |
Accrued interest payable | 9,409 | 5,925 |
Fair Value, Inputs, Level 2 [Member] | Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
FHLB and other borrowed funds | 400,000 | 400,000 |
Fair Value, Inputs, Level 2 [Member] | Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
FHLB and other borrowed funds | 403,489 | 414,207 |
Fair Value, Level 3 Inputs [Member] | Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans receivable, net of impaired loans and allowance | 9,409,596 | 10,873,120 |
FHLB, Federal Reserve & First National Bankers Bank stock; other equity investments | 122,824 | 114,854 |
Time deposits | 1,050,896 | 1,246,797 |
Subordinated debentures | 370,900 | 370,326 |
Fair Value, Level 3 Inputs [Member] | Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Loans receivable, net of impaired loans and allowance | 9,687,138 | 11,292,004 |
FHLB, Federal Reserve & First National Bankers Bank stock; other equity investments | 122,824 | 114,854 |
Time deposits | 1,089,205 | 1,266,430 |
Subordinated debentures | $ 377,839 | $ 378,981 |
Recent Accounting Pronounceme_2
Recent Accounting Pronouncements - Additional Information (Detail) $ in Millions | 9 Months Ended |
Sep. 30, 2021USD ($)Loan | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |
CARES act of 2020 number of loans modification | Loan | 38 |
CARES act of 2020 number of loans amount | $ | $ 228.2 |
Accounting Standards Update 2017-04 [Member] | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |
Change in Accounting Principle, Accounting Standards Update, Adoption Date | Jan. 1, 2020 |
Change in Accounting Principle, Accounting Standards Update, Adopted [true false] | true |
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false] | true |
Accounting Standards Update 2018-13 [Member] | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |
Change in Accounting Principle, Accounting Standards Update, Adoption Date | Jan. 1, 2020 |
Change in Accounting Principle, Accounting Standards Update, Adopted [true false] | true |
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false] | true |
Accounting Standards Update 2018-15 [Member] | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |
Change in Accounting Principle, Accounting Standards Update, Adoption Date | Jan. 1, 2020 |
Change in Accounting Principle, Accounting Standards Update, Adopted [true false] | true |
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false] | true |
Accounting Standards Update 2019-01 [Member] | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |
Change in Accounting Principle, Accounting Standards Update, Adoption Date | Jan. 1, 2020 |
Change in Accounting Principle, Accounting Standards Update, Adopted [true false] | true |
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false] | true |
Accounting Standards Update 2019-04 [Member] | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |
Change in Accounting Principle, Accounting Standards Update, Adoption Date | Jan. 1, 2020 |
Change in Accounting Principle, Accounting Standards Update, Adopted [true false] | true |
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false] | true |
Accounting Standards Update 2019-05 [Member] | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |
Change in Accounting Principle, Accounting Standards Update, Adoption Date | Jan. 1, 2020 |
Change in Accounting Principle, Accounting Standards Update, Adopted [true false] | true |
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false] | true |
Accounting Standards Update 2019-11 [Member] | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |
Change in Accounting Principle, Accounting Standards Update, Adoption Date | Jan. 1, 2020 |
Change in Accounting Principle, Accounting Standards Update, Adopted [true false] | true |
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false] | true |
Accounting Standards Update 2019-12 [Member] | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |
Change in Accounting Principle, Accounting Standards Update, Adoption Date | Jan. 1, 2021 |
Change in Accounting Principle, Accounting Standards Update, Adopted [true false] | true |
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false] | true |