Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 5 LOANS The loan portfolio is classified based on the underlying collateral utilized to secure each loan for financial reporting purposes. This classification is consistent with the Quarterly Report of Condition and Income filed by the Bank with the Federal Deposit Insurance Corporation (FDIC). Commercial, financial and agricultural - Real estate construction Owner-occupied commercial real estate mortgage 1 4 Other real estate mortgage Consumer not The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) provided for Paycheck Protection Program (“PPP”) loans made by banks to employers with less than 500 2021, March 21, 2021, May 28, 2021, April 2020. June 30, 2022 December 31, 2021, three June 30, 2022 2021, six June 30, 2022 2021, June 30, 2022 December 31, 2021, The following table details the Company’s loans at June 30, 2022 December 31, 2021: June 30, December 31, 2022 2021 (Dollars In Thousands) Commercial, financial and agricultural $ 2,966,040 $ 2,984,053 Real estate - construction 1,383,155 1,103,076 Real estate - mortgage: Owner-occupied commercial 2,026,807 1,874,103 1-4 family mortgage 1,015,698 826,765 Other mortgage 3,160,510 2,678,084 Subtotal: Real estate - mortgage 6,203,015 5,378,952 Consumer 65,110 66,853 Total Loans 10,617,320 9,532,934 Less: Allowance for credit losses (128,387 ) (116,660 ) Net Loans $ 10,488,933 $ 9,416,274 Commercial, financial and agricultural 27.94 % 31.30 % Real estate - construction 13.03 % 11.57 % Real estate - mortgage: Owner-occupied commercial 19.09 % 19.66 % 1-4 family mortgage 9.57 % 8.67 % Other mortgage 29.77 % 28.10 % Subtotal: Real estate - mortgage 58.42 % 56.42 % Consumer 0.61 % 0.70 % Total Loans 100.00 % 100.00 % The credit quality of the loan portfolio is summarized no ● Pass – loans which are well protected by the current net worth and paying capacity of the borrower (or guarantors, if any) or by the fair value, less cost to acquire and sell, of any underlying collateral. ● Special Mention – loans with potential weakness that may, not not not ● Substandard – loans that exhibit well-defined weakness or weaknesses that currently jeopardize debt repayment. These loans are characterized by the distinct possibility that the company will sustain some loss if the weaknesses are not ● Doubtful – loans that have all the weaknesses inherent in loans classified substandard, plus 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. The table below presents loan balances classified by credit quality indicator, loan type and based on year of origination as of June 30, 2022 : Revolving June 30, 2022 2022 2021 2020 2019 2018 Prior Loans Total (In thousands) Commercial, financial and agricultural Pass $ 295,183 $ 671,693 $ 257,345 $ 227,787 $ 164,947 $ 514,106 $ 748,747 $ 2,880,087 Special Mention 100 6,717 1,276 2,277 3,444 4,950 21,344 40,108 Substandard 1 - 408 11,071 343 3,610 30,691 45,845 Doubtful - - - - - - - - Total Commercial, financial and agricultural $ 295,284 $ 678,410 $ 259,029 $ 241,135 $ 168,734 $ 522,666 $ 800,782 $ 2,966,040 Real estate - construction Pass $ 237,946 $ 600,567 $ 226,083 $ 17,895 $ 8,644 $ 29,479 $ 257,920 $ 1,378,534 Special Mention 2,500 - - - - 894 - 3,394 Substandard - - - - 1,227 - - 1,227 Doubtful - - - - - - - - Total Real estate - construction $ 240,446 $ 600,567 $ 226,083 $ 17,895 $ 9,871 $ 30,373 $ 257,920 $ 1,383,155 Owner-occupied commercial Pass $ 174,174 $ 426,742 $ 257,264 $ 159,595 $ 148,669 $ 386,045 $ 455,962 $ 2,010,500 Special Mention 291 1,625 - 2,382 633 5,500 1,777 12,208 Substandard - - - - - 1,866 4,283 4,099 Doubtful - - - - - - - - Total Owner-occupied commercial $ 174,465 $ 428,367 $ 257,264 $ 161,977 $ 149,302 $ 393,411 $ 462,022 $ 2,026,807 1-4 family mortgage Pass $ 210,144 $ 246,092 $ 76,469 $ 40,022 $ 24,584 $ 76,334 $ 333,600 $ 1,007,245 Special Mention 101 1,503 839 161 - 585 2,695 5,884 Substandard - - - 233 - 342 1,994 2,569 Doubtful - - - - - - - - Total 1-4 family mortgage $ 210,245 $ 247,595 $ 77,308 $ 40,416 $ 24,584 $ 77,261 $ 338,289 $ 1,015,698 Other mortgage Pass $ 423,306 $ 798,502 $ 449,472 $ 370,182 $ 123,724 $ 398,486 $ 573,799 $ 3,137,471 Special Mention - - - 130 376 2,681 7,151 10,338 Substandard - - - - 4,449 928 7,324 12,701 Doubtful - - - - - - - - Total Other mortgage $ 423,306 $ 798,502 $ 449,472 $ 370,312 $ 128,549 $ 402,095 $ 588,274 $ 3,160,510 Consumer Pass $ 5,857 $ 7,083 $ 2,982 $ 1,862 $ 402 $ 22,535 $ 24,370 $ 65,091 Special Mention - - - - - 19 - 19 Substandard - - - - - - - - Doubtful - - - - - - - - Total Consumer $ 5,857 $ 7,083 $ 2,982 $ 1,862 $ 402 $ 22,554 $ 24,370 $ 65,110 Total Loans Pass $ 1,346,610 $ 2,750,679 $ 1,269,615 $ 817,343 $ 470,970 $ 1,426,985 $ 2,393,868 $ 10,478,928 Special Mention 2,992 9,845 2,115 4,950 4,453 14,629 32,967 71,951 Substandard 1 - 408 11,303 6,019 6,746 44,940 66,441 Doubtful - - - - - - - - Total Loans $ 1,349,603 $ 2,760,524 $ 1,272,138 $ 833,596 $ 481,442 $ 1,448,360 $ 2,471,657 $ 10,617,320 The table below presents loan balances classified by credit quality indicator, loan type and based on year of origination as of December 31, 2021: Revolving December 31, 2021 2021 2020 2019 2018 2017 Prior Loans Total (In thousands) Commercial, financial and agricultural Pass $ 800,822 $ 294,841 $ 209,086 $ 130,579 $ 114,870 $ 127,572 $ 1,216,153 $ 2,893,923 Special Mention 1,245 1,323 942 846 915 784 19,801 25,856 Substandard - 387 10,039 1,741 1,501 7,966 42,640 64,274 Doubtful - - - - - - - - Total Commercial, financial and agricultural $ 802,067 $ 296,551 $ 220,067 $ 133,166 $ 117,286 $ 136,322 $ 1,278,594 $ 2,984,053 Real estate - construction Pass $ 597,497 $ 260,723 $ 110,671 $ 16,452 $ 13,704 $ 17,356 $ 76,662 $ 1,093,065 Special Mention - - 6,594 2,500 - 917 - 10,011 Substandard - - - - - - - - Doubtful - - - - - - - - Total Real estate - construction $ 597,497 $ 260,723 $ 117,265 $ 18,952 $ 13,704 $ 18,273 $ 76,662 $ 1,103,076 Owner-occupied commercial Pass $ 406,473 $ 352,642 $ 231,197 $ 182,812 $ 162,648 $ 430,638 $ 96,860 $ 1,863,270 Special Mention 101 - 2,417 779 476 2,688 - 6,461 Substandard - - - - - 4,372 - 4,372 Doubtful - - - - - - - - Total Owner-occupied commercial $ 406,574 $ 352,642 $ 233,614 $ 183,591 $ 163,124 $ 437,698 $ 96,860 $ 1,874,103 1-4 family mortgage Pass $ 299,686 $ 117,579 $ 68,044 $ 46,954 $ 37,374 $ 37,970 $ 210,338 $ 817,945 Special Mention - 1,000 517 116 260 912 3,033 5,838 Substandard - 150 593 241 231 611 1,156 2,982 Doubtful - - - - - - - - Total 1-4 family mortgage $ 299,686 $ 118,729 $ 69,154 $ 47,311 $ 37,865 $ 39,493 $ 214,527 $ 826,765 Other mortgage Pass $ 882,849 $ 481,012 $ 411,426 $ 174,700 $ 272,555 $ 353,621 $ 81,202 $ 2,657,365 Special Mention - - 130 376 2,720 4,656 - 7,882 Substandard - - - 4,497 8,340 - - 12,837 Doubtful - - - - - - - - Total Other mortgage $ 882,849 $ 481,012 $ 411,556 $ 179,573 $ 283,615 $ 358,277 $ 81,202 $ 2,678,084 Consumer Pass $ 16,303 $ 4,845 $ 2,896 $ 983 $ 903 $ 3,649 $ 37,250 $ 66,829 Special Mention - - - - - 24 - 24 Substandard - - - - - - - - Doubtful - - - - - - - - Total Consumer $ 16,303 $ 4,845 $ 2,896 $ 983 $ 903 $ 3,673 $ 37,250 $ 66,853 Total Loans Pass $ 3,003,630 $ 1,511,642 $ 1,033,320 $ 552,480 $ 602,054 $ 970,806 $ 1,718,465 $ 9,392,397 Special Mention 1,346 2,323 10,600 4,617 4,371 9,981 22,834 56,072 Substandard - 537 10,632 6,479 10,072 12,949 43,796 84,465 Doubtful - - - - - - - - Total Loans $ 3,004,976 $ 1,514,502 $ 1,054,552 $ 563,576 $ 616,497 $ 993,736 $ 1,785,095 $ 9,532,934 Loans by performance status as of June 30, 2022 December 31, 2021 June 30, 2022 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,960,589 $ 5,451 $ 2,966,040 Real estate - construction 1,383,155 - 1,383,155 Real estate - mortgage: Owner-occupied commercial 2,023,628 3,179 2,026,807 1-4 family mortgage 1,014,336 1,362 1,015,698 Other mortgage 3,154,993 5,517 3,160,510 Total real estate mortgage 6,192,957 10,058 6,203,015 Consumer 65,088 22 65,110 Total $ 10,601,789 $ 15,531 $ 10,617,320 December 31, 2021 Performing Nonperforming Total (In Thousands) Commercial, financial and agricultural $ 2,979,671 $ 4,382 $ 2,984,053 Real estate - construction 1,103,076 - 1,103,076 Real estate - mortgage: Owner-occupied commercial 1,873,082 1,021 1,874,103 1-4 family mortgage 824,756 2,009 826,765 Other mortgage 2,673,428 4,656 2,678,084 Total real estate mortgage 5,371,266 7,686 5,378,952 Consumer 66,824 29 66,853 Total $ 9,520,837 $ 12,097 $ 9,532,934 Loans by past due status as of June 30, 2022 December 31, 2021 June 30, 2022 Past Due Status (Accruing Loans) Total Past Total Nonaccrual 30-59 Days 60-89 Days 90+ Days Due Nonaccrual Current Total Loans With no ACL (In Thousands) Commercial, financial and agricultural $ 2,810 $ 885 $ 249 $ 3,944 $ 5,202 $ 2,956,894 $ 2,966,040 $ 2,595 Real estate - construction - - - - - 1,383,155 1,383,155 - Real estate - mortgage: Owner-occupied commercial - - - - 3,179 2,023,628 2,026,807 5,515 1-4 family mortgage 402 1,332 134 1,868 1,228 1,012,602 1,015,698 102 Other mortgage 376 - 4,586 4,962 931 3,154,617 3,160,510 - Total real estate - mortgage 778 1,332 4,720 6,830 5,338 6,190,847 6,203,015 5,617 Consumer 53 27 22 102 - 65,008 65,110 - Total $ 3,641 $ 2,244 $ 4,991 $ 10,876 $ 10,540 $ 10,595,904 $ 10,617,320 $ 8,212 December 31, 2021 Past Due Status (Accruing Loans) Total Past Total Nonaccrual 30-59 Days 60-89 Days 90+ Days Due Nonaccrual Current Total Loans With no ACL (In Thousands) Commercial, financial and agricultural $ 516 $ 77 $ 39 $ 632 $ 4,343 $ 2,979,078 $ 2,984,053 $ 2,059 Real estate - construction - - - - - 1,103,076 1,103,076 - Real estate - mortgage: Owner-occupied commercial 143 - - 143 1,021 1,872,939 1,874,103 1,021 1-4 family mortgage - 703 611 1,314 1,398 824,053 826,765 483 Other mortgage - - 4,656 4,656 - 2,673,428 2,678,084 - Total real estate - mortgage 143 703 5,267 6,113 2,419 5,370,420 5,378,952 1,504 Consumer 93 23 29 145 - 66,708 66,853 - Total $ 752 $ 803 $ 5,335 $ 6,890 $ 6,762 $ 9,519,282 $ 9,532,934 $ 3,563 Under the current expected credit losses (“CECL”) methodology, the allowance for credit losses ("ACL") is measured on a collective basis for pools of loans with similar risk characteristics. For loans that do not not The Company uses the discounted cash flow (“DCF”) method to estimate ACL for all loan pools except for commercial and industrial ("C&I") revolving lines of credit and credit cards. For all loan pools utilizing the DCF method, the Company utilizes and forecasts national unemployment rate as a loss driver. The Company also utilizes and forecasts GDP growth as a second June 30, 2022 December 31, 2021, twelve six December 31, 2021. The Company uses a loss-rate method to estimate expected credit losses for its C&I revolving lines of credit and credit card pools. The C&I revolving lines of credit pool incorporates a probability of default (“PD”) and loss given default (“LGD”) modeling approach. This approach involves estimating the pool average life and then using historical correlations of default and loss experience over time to calculate the lifetime PD and LGD. These two Each loan pool is adjusted for qualitative factors not Inherent risks in the loan portfolio will differ based on type of loan. Specific risk characteristics by loan portfolio segment are listed below: Commercial, financial and agricultural loans may may Real estate construction loans Real estate mortgage loans may Consumer loans The following table presents changes in the allowance for credit losses, segregated by loan type, for the three six June 30, 2022 June 30, 2021. Commercial, financial and Real estate - Real estate - agricultural construction mortgage Consumer Total (In Thousands) Three Months Ended June 30, 2022 Allowance for credit losses: Balance at March 1, 2022 $ 41,417 $ 27,821 $ 48,548 $ 1,677 $ 119,463 Charge-offs (1,666 ) - (23 ) (124 ) (1,813 ) Recoveries 1,217 - - 13 1,230 Provision 642 8,172 268 426 9,507 Balance at June 30, 2022 $ 41,610 $ 35,993 $ 48,793 $ 1,992 $ 128,387 Three Months Ended March June 30, 2021 Allowance for credit losses: Balance at March 1, 2021 $ 38,232 $ 19,391 $ 35,607 $ 1,676 $ 94,906 Charge-offs (150 ) - (59 ) (54 ) (263 ) Recoveries 298 2 62 13 375 Provision 4,053 3,020 2,920 (341 ) 9,652 Balance at June 30, 2021 $ 42,433 $ 22,413 $ 38,530 $ 1,294 $ 104,670 Six Months Ended June 30, 2022 Allowance for credit losses: Balance at January 1, 2022 $ 41,869 $ 26,994 $ 45,829 $ 1,968 $ 116,660 Charge-offs (4,240 ) - (51 ) (199 ) (4,489 ) Recoveries 1,322 - - 25 1,347 Provision 2,659 8,999 3,014 198 14,869 Balance at June 30, 2022 $ 41,610 $ 35,993 $ 48,793 $ 1,992 $ 128,387 Six Months Ended June 30, 2021 Allowance for credit losses: Balance at January 1, 2021 $ 36,370 $ 16,057 $ 33,722 $ 1,793 $ 87,942 Charge-offs (627 ) - (71 ) (141 ) (839 ) Recoveries 324 52 64 24 464 Provision 6,366 6,304 4,815 (382 ) 17,103 Balance at June 30, 2021 $ 42,433 $ 22,413 $ 38,530 $ 1,294 $ 104,670 We maintain an allowance for credit losses on unfunded lending commitments and letters of credit to provide for the risk of loss inherent in these arrangements. The allowance is computed using a methodology similar to that used to determine the allowance for credit losses for loans, modified to take into account the probability of a drawdown on the commitment. The allowance for credit losses on unfunded loan commitments is classified as a liability account on the Consolidated Balance Sheet within other liabilities, while the corresponding provision for these credit losses is recorded as a component of other expense. The allowance for credit losses on unfunded commitments was $1.6 million at June 30, 2022 December 31, 2021. three six June 30, 2022, three six June 30, 2021, Loans that no Accounts ACL June 30, 2022 Real Estate Receivable Equipment Other Total Allocation (In Thousands) Commercial, financial and agricultural $ 12,330 $ 5,174 $ 3,246 $ 25,094 $ 45,844 $ 8,264 Real estate - construction - - - 1,227 1,227 96 Real estate - mortgage: Owner-occupied commercial 4,100 - - - 4,100 1,837 1-4 family mortgage 3,226 - - - 3,226 231 Other mortgage 12,704 - - - 12,704 - Total real estate - mortgage 20,030 - - - 20,030 2,068 Consumer - - - - - - Total $ 32,360 $ 5,174 $ 3,246 $ 26,321 $ 67,101 $ 10,428 Accounts ACL December 31, 2021 Real Estate Receivable Equipment Other Total Allocation (In Thousands) Commercial, financial and agricultural $ 13,067 $ 5,075 $ 18,533 $ 27,599 $ 64,274 $ 9,727 Real estate - construction - - - - - - Real estate - mortgage: Owner-occupied commercial 4,372 - - - 4,372 1,371 1-4 family mortgage 2,982 - - - 2,982 163 Other mortgage 12,837 - - - 12,837 31 Total real estate - mortgage 20,191 - - - 20,191 1,565 Consumer - - - - - - Total $ 33,258 $ 5,075 $ 18,533 $ 27,599 $ 84,465 $ 11,292 Troubled Debt Restructuring (“TDR”) at June 30, 2022, December 31, 2021 June 30, 2021 $‐‐2.4 June 30, 2022, December 31, 2021 June 30, 2021 no three six June 30, 2022. three six June 30, 2021 Three Months Ended June 30, 2022 Six Months Ended June 30, 2022 Pre- Post- Pre- Post- Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Number of Recorded Recorded Number of Recorded Recorded Contracts Investment Investment Contracts Investment Investment (In Thousands) Troubled Debt Restructurings Commercial, financial and agricultural 2 $ 1,155 $ 1,155 2 $ 1,155 $ 1,155 Real estate - construction - - - - - - Real estate - mortgage: Owner-occupied commercial 1 991 991 1 991 991 1-4 family mortgage - - - - - - Other mortgage - - - - - - Total real estate mortgage 1 991 991 1 991 991 Consumer - - - - - - 3 $ 2,146 $ 2,146 3 $ 2,146 $ 2,146 There were no loans which were modified in the previous twelve twelve three six June 30, 2022 June 30, 2021, 90 |