International Bancshares (IBOC) 10-Q5 Nov 202020 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2020	Nov. 03, 2020
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	000-09439
Entity Registrant Name	INTERNATIONAL BANCSHARES CORPORATION
Entity Incorporation, State or Country Code	TX
Entity Tax Identification Number	74-2157138
Entity Address, Address Line One	1200 San Bernardo Avenue
Entity Address, City or Town	Laredo
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	78042-1359
City Area Code	956
Local Phone Number	722-7611
Title of 12(b) Security	Common Stock
Trading Symbol	IBOC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		63,275,376
Entity Central Index Key	0000315709
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Statements of Cond

Consolidated Statements of Condition - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 1,249,396	$ 256,820
Investment securities:
Held to maturity debt securities (Market value of $3,400 on September 30, 2020 and $2,400 on December 31, 2019)	3,400	2,400
Available for sale debt securities (Amortized cost of $3,257,601 on September 30, 2020 and $3,376,070 on December 31, 2019)	3,298,840	3,378,923
Equity securities with readily determinable fair values	6,182	6,095
Total investment securities	3,308,422	3,387,418
Loans	7,589,235	6,894,946
Less allowance for credit losses	(102,165)	(60,278)
Net loans	7,487,070	6,834,668
Bank premises and equipment, net	486,601	506,595
Accrued interest receivable	36,044	36,620
Other investments	266,484	318,427
Cash surrender value of life insurance policies	290,683	289,693
Goodwill	282,532	282,532
Other assets	184,542	200,121
Total assets	13,591,774	12,112,894
Deposits:
Demand-non-interest bearing	4,522,100	3,545,905
Savings and interest bearing demand	3,690,904	3,267,829
Time	2,093,729	2,012,300
Total deposits	10,306,733	8,826,034
Securities sold under repurchase agreements	375,849	236,536
Other borrowed funds	436,373	626,511
Junior subordinated deferrable interest debentures	134,642	134,642
Other liabilities	197,122	171,118
Total liabilities	11,450,719	9,994,841
Shareholders' equity:
Common shares of $1.00 par value. Authorized 275,000,000 shares; issued 96,234,165 shares on September 30, 2020 and 96,214,967 shares on December 31, 2019	96,234	96,215
Surplus	149,034	148,075
Retained earnings	2,241,397	2,200,568
Accumulated other comprehensive income	32,418	2,345
Total shareholders' equity before treasury stock	2,519,083	2,447,203
Less cost of shares in treasury, 32,961,289 shares on September 30, 2020 and 31,015,061 on December 31, 2019	(378,028)	(329,150)
Total shareholders' equity	2,141,055	2,118,053
Total liabilities and shareholders' equity	$ 13,591,774	$ 12,112,894

Consolidated Statements of Co_2

Consolidated Statements of Condition (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Consolidated Statements of Condition
Held to maturity, Market value (in dollars)	$ 3,400	$ 2,400
Available for sale, Amortized cost (in dollars)	$ 3,257,601	$ 3,376,070
Common shares, par value (in dollars per share)	$ 1	$ 1
Common shares, Authorized shares	275,000,000	275,000,000
Common shares, issued shares	96,234,165	96,214,967
Treasury, shares	32,961,289	31,015,061

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Interest income:
Loans, including fees	$ 90,614	$ 104,688	$ 287,608	$ 313,057
Investment securities:
Taxable	8,469	18,040	40,049	56,942
Tax-exempt	605	1,019	2,024	4,045
Other interest income	295	372	564	998
Total interest income	99,983	124,119	330,245	375,042
Interest expense:
Savings deposits	1,028	4,023	5,424	12,515
Time deposits	4,292	5,680	15,581	15,102
Securities sold under repurchase agreements	164	640	777	1,820
Other borrowings	1,930	3,144	6,844	10,151
Junior subordinated deferrable interest debentures	756	1,414	3,109	5,045
Total interest expense	8,170	14,901	31,735	44,633
Net interest income	91,813	109,218	298,510	330,409
Provision for credit losses	8,770	5,278	36,595	15,363
Net interest income after provision for credit losses	83,043	103,940	261,915	315,046
Non-interest income:
Investment securities transactions, net		(2)	(5)	(12)
Other investments, net	3,235	2,440	3,621	4,685
Other income	5,574	4,813	17,223	11,866
Total non-interest income	40,117	42,697	108,843	113,242
Non-interest expense:
Employee compensation and benefits	31,718	37,038	100,367	110,693
Occupancy	6,677	7,294	19,346	20,251
Depreciation of bank premises and equipment	7,049	7,127	21,348	21,140
Professional fees	4,121	4,744	12,004	12,081
Deposit insurance assessments	810	829	1,012	2,471
Net expense, other real estate owned	1,341	1,578	7,178	3,776
Advertising	1,413	1,987	5,289	6,150
Software and software maintenance	4,964	4,691	14,712	14,191
Other	11,960	15,778	39,686	42,877
Total non-interest expense	70,053	81,066	220,942	233,630
Income before income taxes	53,107	65,571	149,816	194,658
Provision for income taxes	10,365	14,127	30,726	41,288
Net income	$ 42,742	$ 51,444	$ 119,090	$ 153,370
Basic earnings per common share:
Weighted average number of shares outstanding (in shares)	63,269,966	65,449,159	63,876,496	65,571,124
Net income (in dollars per share)	$ 0.68	$ 0.79	$ 1.86	$ 2.34
Fully diluted earnings per common share:
Weighted average number of shares outstanding (in shares)	63,386,292	65,636,116	64,001,883	65,777,552
Net income (in dollars per share)	$ 0.67	$ 0.78	$ 1.86	$ 2.33
Services charges on deposit accounts
Non-interest income:
Service charges	$ 15,037	$ 18,723	$ 45,554	$ 53,593
Other service charges, commissions and fees, Banking
Non-interest income:
Service charges	14,471	14,708	36,866	37,348
Other service charges, commissions and fees, Non-banking
Non-interest income:
Service charges	$ 1,800	$ 2,015	$ 5,584	$ 5,762

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Consolidated Statements of Comprehensive Income
Net income	$ 42,742	$ 51,444	$ 119,090	$ 153,370
Other comprehensive income, net of tax:
Net unrealized holding (losses) gains on securities available for sale arising during period (net of tax effects of $(2,366), $2,343, $7,993 and $15,733)	(8,901)	8,813	30,069	59,188
Reclassification adjustment for losses on securities available for sale included in net income (net of tax effects of $0, $0, $1 and $3)		2	4	9
Other comprehensive income, net of tax	(8,901)	8,815	30,073	59,197
Comprehensive income	$ 33,841	$ 60,259	$ 149,163	$ 212,567

Consolidated Statements of Co_3

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Consolidated Statements of Comprehensive Income
Net unrealized holding (losses) gains on securities available for sale arising during period, tax effects	$ (2,366)	$ 2,343	$ 7,993	$ 15,733
Reclassification adjustment for losses on securities available for sale included in net income, tax effects	$ 0	$ 0	$ 1	$ 3

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock	Surplus	Retained EarningsAdjustment	Retained Earnings	Other Comprehensive Income (Loss)	Treasury Stock	Adjustment	Total
Balance at Dec. 31, 2018	$ 96,104	$ 145,283		$ 2,064,134	$ (54,634)	$ (311,305)		$ 1,939,582
Balance (in shares) at Dec. 31, 2018	96,104
Increase (decrease) in shareholders' equity
Net Income				153,370				153,370
Dividends:
Payable/Cash				(68,669)				(68,669)
Purchase of treasury stock						(17,817)		(17,817)
Exercise of stock options	$ 88	1,429						1,517
Exercise of stock options (in shares)	88
Stock compensation expense recognized in earnings		744						744
Other comprehensive income, net of tax:
Net change in unrealized gains and losses on available for sale securities, net of reclassification adjustments					59,197			59,197
Balance at Sep. 30, 2019	$ 96,192	147,456		2,148,835	4,563	(329,122)		2,067,924
Balance (in shares) at Sep. 30, 2019	96,192
Balance at Jun. 30, 2019	$ 96,151	146,614		2,133,239	(4,252)	(311,433)		2,060,319
Balance (in shares) at Jun. 30, 2019	96,151
Increase (decrease) in shareholders' equity
Net Income				51,444				51,444
Dividends:
Payable/Cash				(35,848)				(35,848)
Purchase of treasury stock						(17,689)		(17,689)
Exercise of stock options	$ 41	602						643
Exercise of stock options (in shares)	41
Stock compensation expense recognized in earnings		240						240
Other comprehensive income, net of tax:
Net change in unrealized gains and losses on available for sale securities, net of reclassification adjustments					8,815			8,815
Balance at Sep. 30, 2019	$ 96,192	147,456		2,148,835	4,563	(329,122)		2,067,924
Balance (in shares) at Sep. 30, 2019	96,192
Balance at Dec. 31, 2019	$ 96,215	148,075		2,200,568	2,345	(329,150)		2,118,053
Balance (in shares) at Dec. 31, 2019	96,215
Increase (decrease) in shareholders' equity
Net Income				119,090				119,090
Dividends:
Payable/Cash				(69,928)				(69,928)
Purchase of treasury stock						(48,878)		(48,878)
Exercise of stock options	$ 19	388						407
Exercise of stock options (in shares)	19
Stock compensation expense recognized in earnings		571						571
Other comprehensive income, net of tax:
Net change in unrealized gains and losses on available for sale securities, net of reclassification adjustments					30,073			30,073
Balance at Sep. 30, 2020	$ 96,234	149,034	$ (8,333)	2,241,397	32,418	(378,028)	$ (8,333)	2,141,055
Balance (in shares) at Sep. 30, 2020	96,234
Balance at Jun. 30, 2020	$ 96,229	148,744		2,233,455	41,319	(377,887)		2,141,860
Balance (in shares) at Jun. 30, 2020	96,229
Increase (decrease) in shareholders' equity
Net Income				42,742				42,742
Dividends:
Payable/Cash				(34,800)				(34,800)
Purchase of treasury stock						(141)		(141)
Exercise of stock options	$ 5	114						119
Exercise of stock options (in shares)	5
Stock compensation expense recognized in earnings		176						176
Other comprehensive income, net of tax:
Net change in unrealized gains and losses on available for sale securities, net of reclassification adjustments					(8,901)			(8,901)
Balance at Sep. 30, 2020	$ 96,234	$ 149,034	$ (8,333)	$ 2,241,397	$ 32,418	$ (378,028)	$ (8,333)	$ 2,141,055
Balance (in shares) at Sep. 30, 2020	96,234

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Consolidated Statements of Shareholders' Equity
Payable/Cash Dividends (in dollars per share)	$ 0.55	$ 0.55	$ 1.10	$ 1.05
Purchase of treasury stock (in shares)	740,598	516,973	1,946,228	3,258

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Operating activities:
Net income	$ 119,090	$ 153,370
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit loss	36,595	15,363
Specific reserve, other real estate owned	702	154
Depreciation of bank premises and equipment	21,348	21,140
Gain on sale of bank premises and equipment	(248)	(207)
Gain on sale of other real estate owned	(361)	(1,246)
Accretion of investment securities discounts	(367)	(311)
Amortization of investment securities premiums	26,673	13,678
Investment securities transactions, net	5	12
Unrealized gain on equity securities with readily determinable fair values	(87)	(235)
Stock based compensation expense	571	744
Losses (earnings) from affiliates and other investments	1,270	(2,869)
Deferred income taxes	(17,443)	330
Increase in accrued interest receivable	576	1,444
Decrease (increase) in other assets	10,724	(17,430)
Increase in other liabilities	15,799	27,250
Net cash provided by operating activities	214,847	211,187
Investing activities:
Proceeds from maturities of securities	1,075
Proceeds from sales and calls of available for sale securities	28,795	92,980
Purchases of available for sale securities	(1,336,445)	(380,095)
Principal collected on mortgage backed securities	1,397,733	566,455
Net increase in loans	(684,471)	(372,121)
Purchases of other investments	(38,985)	(33,940)
Distributions from other investments	64,870	52,693
Purchases of bank premises and equipment	(6,245)	(23,809)
Proceeds from sales of bank premises and equipment	879	1,830
Proceeds from sales of other real estate owned	4,248	3,685
Net cash used in investing activities	(568,546)	(92,322)
Financing activities:
Net increase in non-interest bearing demand deposits	976,195	121,090
Net increase (decrease) in savings and interest bearing demand deposits	423,075	(13,475)
Net increase in time deposits	81,429	7,901
Net increase in securities sold under repurchase agreements	139,313	59,345
Net decrease in other borrowed funds	(190,138)	(249,109)
Redemption of long-term debt		(25,774)
Purchase of treasury stock	(48,878)	(17,817)
Proceeds from stock transactions	407	1,517
Payments of cash dividends	(35,128)	(32,821)
Net cash provided by (used in) financing activities	1,346,275	(149,143)
Increase (decrease) in cash and cash equivalents	992,576	(30,278)
Cash and cash equivalents at beginning of period	256,820	316,797
Cash and cash equivalents at end of period	1,249,396	286,519
Supplemental cash flow information:
Interest paid	33,880	43,262
Income taxes paid	34,826	38,591
Non-cash investing and financing activities:
Net transfers from loans to other real estate owned	4,526	21,381
Dividends declared, not yet paid on common stock	34,800	35,848
Establishment of lease liability and right-of-use asset		$ 6,171
Net transfers from bank premises and equipment to other assets	$ 4,260

Basis of Presentation

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 2020
Basis of Presentation
Basis of Presentation	Note 1 — Basis of Presentation Our accounting and reporting policies conform to accounting principles generally accepted in the United States of America and to general practices within the banking industry. Our consolidated financial statements include the accounts of International Bancshares Corporation, and our wholly-owned bank subsidiaries, International Bank of Commerce, Laredo (“IBC”), Commerce Bank, International Bank of Commerce, Zapata, International Bank of Commerce, Brownsville, International Bank of Commerce, Oklahoma (the “Subsidiary Banks”) and our wholly-owned non-bank subsidiaries, IBC Trading Company, Premier Tierra Holdings, Inc., IBC Charitable and Community Development Corporation, Emerald Galveston Holdings, LLC and IBC Capital Corporation. Our consolidated financial statements are unaudited, but include all adjustments, which, in the opinion of management, are necessary for a fair presentation of the results of the periods presented. All such adjustments were of a normal and recurring nature. These financial statements should be read in conjunction with the financial statements and the notes thereto in our latest Annual Report on Form 10-K. Our consolidated statement of condition at December 31, 2019 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States of America (“US GAAP”) for complete financial statements. Certain reclassifications have been made to make prior periods comparable. Operating results for the three and nine months ended September 30, 2020 are not necessarily indicative of the results for the year ending December 31, 2020 or any future period. We operate as one segment. The operating information used by our chief executive officer for purposes of assessing performance and making operating decisions is the consolidated statements presented in this report. We have five active operating subsidiaries, the Subsidiary Banks. We apply the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”), FASB ASC 280, “Segment Reporting,” in determining our reportable segments and related disclosures. We have evaluated all events or transactions that occurred through the date we issued these financial statements. During this period, we did not have any material recognizable or non-recognizable subsequent events. On January 1, 2019, we adopted the provisions of ASU 2016-02, “Leases.” ASU 2016-02 amends existing standards for accounting for leases by lessees, with accounting for leases by lessors remaining mainly unchanged from current guidance. The update requires that lessees recognize a lease liability and a right of use asset for all leases (with the exception of short-term leases) at the commencement date of the lease and disclose key information about leasing arrangements. The update is to be applied on a modified retrospective basis for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the consolidated financial statements. In January 2018, the FASB issued a proposal that provides an additional transition method that would allow entities to not apply the guidance in the update in the comparative periods presented in the consolidated financial statements, but instead recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. As part of our business model, we primarily own all property we occupy, with the exception of certain branches operating in grocery stores or shopping centers and certain ATM locations that were classified as operating leases under previous guidance. The adoption of the standard did not have a significant impact on our consolidated financial statements. As of the date of adoption, we recorded a right of use asset and a lease liability million. The right of use asset and lease liability are included in other assets liabilities , respectively, on our consolidated statement of condition. Amortization of the right of use asset for the three and nine months ended September 30, 2020 was , respectively. Amortization of the right of use asset for the three and nine months ended September 30, 2019 was approximately In June 2016, the FASB issued Accounting Standards Update No. 2016-13 to ASC 326, “Financial Instruments – Credit Losses.” The update amends existing standards for accounting for credit losses for financial assets. The update requires that the expected credit losses on the financial instruments held as of the end of the period being reported be measured based on historical experience, current conditions, and reasonable and supportable forecasts. The update also expands the required disclosures related to significant estimates and judgements used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s financial assets. The update also amended the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. The impact of the adoption of the standard is to be recorded as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. The accounting standard was effective for us on January 1, 2020. The task force formed last year, which includes key members of the teams that work with the current calculation of the allowance for probable loan losses plus members representing the corporate accounting and risk management areas, has worked with the implementation of the update and validation to complete our model/tool. Based on the composition of the portfolio at December 31, 2019 and after finalizing the methodology, the adoption of the update increased our allowance for probable loan losses (referred to as the allowance for credit losses under ASU 2016-13), by approximately 17.2%, resulting in a cumulative-effect adjustment to retained earnings of approximately $8.3 million, net of tax. Please refer to Note 4 – Allowance for Credit Losses and the Critical Accounting Policies discussion in Management’s Discussion and Analysis.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 30, 2020
Fair Value Measurements
Fair Value Measurements	Note 2 — Fair Value Measurements ASC Topic 820, “Fair Value Measurements and Disclosures” (“ASC 820”), defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. ASC 820 applies to all financial instruments that are being measured and reported on a fair value basis. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date; it also establishes a fair value hierarchy that prioritizes the inputs used in valuation methodologies into the following three levels: ● Level 1 Inputs - Unadjusted quoted prices in active markets for identical assets or liabilities. ● Level 2 Inputs - Observable inputs other than Level 1 inputs, 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 Inputs - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or other valuation techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. The following table represents assets and liabilities reported on the consolidated balance sheets at their fair value on a recurring basis as of September 30, 2020 by level within the fair value measurement hierarchy: Fair Value Measurements at Reporting Date Using (in Thousands) Quoted Prices in Active Significant Assets/Liabilities Markets for Other Significant Measured at Identical Observable Unobservable Fair Value Assets Inputs Inputs September 30, 2020 (Level 1) (Level 2) (Level 3) Measured on a recurring basis: Assets: Available for sale debt securities Residential mortgage-backed securities $ 3,234,735 $ — $ 3,234,735 $ — States and political subdivisions 64,105 — 64,105 — Equity Securities 6,182 6,182 — — $ 3,305,022 $ 6,182 $ 3,298,840 $ — The following table represents assets and liabilities reported on the consolidated balance sheets at their fair value on a recurring basis as of December 31, 2019 by level within the fair value measurement hierarchy: Fair Value Measurements at Reporting Date Using (in Thousands) Quoted Prices in Active Significant Assets/Liabilities Markets for Other Significant Measured at Identical Observable Unobservable Fair Value Assets Inputs Inputs December 31, 2019 (Level 1) (Level 2) (Level 3) Measured on a recurring basis: Assets: Available for sale securities Residential mortgage - backed securities $ 3,285,548 $ — $ 3,285,548 $ — States and political subdivisions 93,375 — 93,375 — Equity Securities 6,095 6,095 — — $ 3,385,018 $ 6,095 $ 3,378,923 $ — Available-for-sale debt securities are classified within Level 2 of the valuation hierarchy. Equity securities with readily determinable fair values are classified within Level 1. For debt investments classified as Level 2 in the fair value hierarchy, we obtain 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. Certain financial assets and financial liabilities are measured at fair value on a non-recurring basis. The instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). The following table represents financial instruments measured at fair value on a non-recurring basis as of and for the period ended September 30, 2020 by level within the fair value measurement hierarchy: Fair Value Measurements at Reporting Date Using (in thousands) Quoted Assets/Liabilities Prices in Measured at Active Significant Fair Value Markets for Other Significant Net Provision Period ended Identical Observable Unobservable (Credit) September 30, Assets Inputs Inputs During 2020 (Level 1) (Level 2) (Level 3) Period Measured on a non-recurring basis: Assets: Watch-List doubtful loans $ 393 $ — $ — $ 393 $ 156 Other real estate owned 1,594 — — 1,594 702 The following table represents financial instruments measured at fair value on a non-recurring basis as of and for the period ended December 31, 2019 by level within the fair value measurement hierarchy: Fair Value Measurements at Reporting Date Using (in thousands) Quoted Assets/Liabilities Prices in Measured at Active Significant Fair Value Markets Other Significant Net (Credit) Year ended for Identical Observable Unobservable Provision December 31, Assets Inputs Inputs During 2019 (Level 1) (Level 2) (Level 3) Period Measured on a non-recurring basis: Assets: Impaired loans $ 826 $ — $ — $ 826 $ 43 Other real estate owned 21,614 — — 21,614 322 Equity investment without a readily determinable fair value 28,166 — — 28,166 4,775 Our assets measured at fair value on a non-recurring basis at September 30, 2020 are limited to loans classified as Watch List – Doubtful and other real estate owned. At December 31, 2019, asset measured at fair value on a non-recurring basis also included an equity investment without a readily determinable fair value. The fair value of Watch-List Doubtful loans is derived in accordance with FASB ASC 310, “Receivables”. They are primarily comprised of collateral-dependent commercial loans. As the primary sources of loan repayments decline, the secondary repayment source, the collateral, takes on greater significance. Correctly evaluating the fair value becomes even more important. Re-measurement of the loan to fair value is done through a specific valuation allowance included in the allowance for credit losses. The fair value of the loan is based on the fair value of the collateral, as determined through either an appraisal or evaluation process. The basis for our appraisal and appraisal review process is based on regulatory guidelines and strives to comply with all regulatory appraisal laws, regulations, and the Uniform Standards of Professional Appraisal Practice. All appraisals and evaluations are “as is” (the property’s highest and best use) valuations based on the current conditions of the property/project at that point in time. The determination of the fair value of the collateral is based on the net realizable value, which is the appraised value less any closing costs, when applicable. As of September 30, 2020, we had $1,814,000 of doubtful commercial collateral dependent loans, of which $0 had an appraisal performed within the immediately preceding twelve months, and of which $1,300,000 had an evaluation performed within the immediately preceding twelve months. As of December 31, 2019, we had approximately $2,955,000 of doubtful commercial collateral dependent loans, of which $1,426,000 had an appraisal performed within the immediately preceding twelve months and of which $847,000 had an evaluation performed within the immediately preceding twelve months. Our determination to either seek an appraisal or to perform an evaluation begins in weekly credit quality meetings, where the committee analyzes the existing collateral values of the doubtful loans and where obsolete appraisals are identified. In order to determine whether we would obtain a new appraisal or perform an internal evaluation to determine the fair value of the collateral, the credit committee reviews the existing appraisal to determine if the collateral value is reasonable in view of the current use of the collateral and the economic environment related to the collateral. If the analysis of the existing appraisal does not find that the collateral value is reasonable under the current circumstances, we would obtain a new appraisal on the collateral or perform an internal evaluation of the collateral. The ultimate decision to get a new appraisal rests with the independent credit administration group. A new appraisal is not required if an internal evaluation, as performed by in-house experts, is able to appropriately update the original appraisal assumptions to reflect current market conditions and provide an estimate of the collateral’s market value for analysis of the doubtful loan. The internal evaluations must be in writing and contain sufficient information detailing the analysis, assumptions and conclusions, and they must support performing an evaluation in lieu of ordering a new appraisal. Other real estate owned is comprised of real estate acquired by foreclosure and deeds in lieu of foreclosure. Other real estate owned is carried at the lower of the recorded investment in the property or its fair value less estimated costs to sell such property (as determined by independent appraisal) within Level 3 of the fair value hierarchy. Prior to foreclosure, the value of the underlying loan is written down to the fair value of the real estate to be acquired by a charge to the allowance for credit losses, if necessary. The fair value is reviewed periodically and subsequent write-downs are made, accordingly, through a charge to operations. Other real estate owned is included in other assets on the consolidated financial statements. For the three and nine months ended September 30, 2020 and the twelve months ended December 31, 2019, we recorded $0, $22,000 n charges to the allowance for credit losses in connection with loans transferred to other real estate owned. For the three and nine months ended September 30, 2020 and the twelve months ended December 31, 2019, we recorded $165,000, $702,000 and $322,000, respectively, in adjustments to fair value in connection with other real estate owned. The fair value estimates, methods, and assumptions for our financial instruments at September 30, 2020 and December 31, 2019 are outlined below. Cash and Cash Equivalents For these short-term instruments, the carrying amount is a reasonable estimate of fair value. Time Deposits with Banks The carrying amounts of time deposits with banks approximate fair value. Investment Securities Held-to-Maturity The carrying amounts of investments held-to-maturity approximate fair value. Investment Securities For investment securities, which include U.S. Treasury securities, obligations of other U.S. government agencies, obligations of states and political subdivisions and mortgage pass-through and related securities, fair values are 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. See disclosures of fair value of investment securities in Note 6. Loans Fair values are estimated for portfolios of loans with similar financial characteristics. Loans are segregated by type, such as commercial, real estate and consumer loans, as outlined by regulatory reporting guidelines. Each category is segmented into fixed and variable interest rate terms and by performing and non-performing categories. For variable rate performing loans, the carrying amount approximates the fair value. For fixed-rate performing loans, except residential mortgage loans, the fair value is calculated by discounting scheduled cash flows through the estimated maturity using estimated market discount rates that reflect the credit and interest rate risk inherent in the loan. For performing residential mortgage loans, fair value is estimated by discounting contractual cash flows adjusted for prepayment estimates using discount rates based on secondary market sources or the primary origination market. Fixed-rate performing loans are within Level 3 of the fair value hierarchy. At September 30, 2020 and December 31, 2019, the carrying amount of fixed rate performing loans was $1,887,310,000 and $1,503,811,000, respectively, and the estimated fair value was $1,820,865,000 and $1,481,239,000, respectively. Accrued Interest The carrying amounts of accrued interest approximate fair value. Deposits The fair value of deposits with no stated maturity, such as non-interest bearing demand deposit accounts, savings accounts and interest bearing demand deposit accounts, was equal to the amount payable on demand as of September 30, 2020 and December 31, 2019. The fair value of time deposits is based on the discounted value of contractual cashflows. The discount rate is based on currently offered rates. Time deposits are within Level 3 of the fair value hierarchy. At September 30, 2020 and December 31, 2019, the carrying amount of time deposits was $2,093,729,000 and $2,012,300,000, respectively, and the estimated fair value was $2,088,830,000 and $2,011,950,000, respectively. Securities Sold Under Repurchase Agreements Securities sold under repurchase agreements are short-term maturities. Due to the contractual terms of the instruments, the carrying amounts approximated fair value at September 30, 2020 and December 31, 2019. Junior Subordinated Deferrable Interest Debentures We currently have floating-rate junior subordinated deferrable interest debentures outstanding. Due to the contractual terms of the floating-rate junior subordinated deferrable interest debentures, the carrying amounts approximated fair value at September 30, 2020 and December 31, 2019. Other Borrowed Funds We currently have long-term borrowings issued from the Federal Home Loan Bank (“FHLB”). The long-term borrowings outstanding at September 30, 2020 and December 31, 2019 are fixed-rate borrowings and the fair value is based on established market spreads for similar types of borrowings. The fixed rate long-term borrowings are included in Level 2 of the fair value hierarchy. At September 30, 2020 and December 31, 2019, the carrying amount of the fixed rate long-term FHLB borrowings was $436,373,000 and $436,511,000, respectively, and the estimated fair value was $494,099,000 and $465,017,000 , respectively. Commitments to Extend Credit and Letters of Credit Commitments to extend credit and fund letters of credit are principally at current interest rates, and, therefore, the carrying amount approximates fair value. Limitations Fair value estimates are made at a point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time our entire holdings of a particular financial instrument. Because no market exists for a significant portion of our financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Fair value estimates are based on existing on- and off-statement of condition financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. Other significant assets and liabilities that are not considered financial assets or liabilities include the bank premises and equipment and core deposit value. In addition, the tax ramifications related to the effect of fair value estimates have not been considered in the above estimates.

Loans

Loans	9 Months Ended
Loans	Sep. 30, 2020
Loans
Loans	Note 3 — Loans A summary of loans, by loan type at September 30, 2020 and December 31, 2019 is as follows: September 30, December 31, 2020 2019 (Dollars in Thousands) Commercial, financial and agricultural $ 4,426,866 $ 3,379,837 Real estate - mortgage 1,033,646 1,140,377 Real estate - construction 1,943,430 2,185,883 Consumer 41,110 47,800 Foreign 144,183 141,049 Total loans $ 7,589,235 $ 6,894,946

Allowance for Credit Losses

Allowance for Credit Losses	9 Months Ended
Allowance for Credit Losses	Sep. 30, 2020
Allowance for Credit Losses
Allowance for Credit Losses	Note 4 — Allowance for Credit Losses We adopted the provisions of ASU 2016-13 on January 1, 2020 on a modified retrospective basis. Results and information regarding our allowance for credit losses (“ACL”) included in this Note are calculated and presented in accordance with that accounting standards update. Results and information prior to January 1, 2020 are calculated and presented in accordance with previously applicable U.S. GAAP. ASU 2016-13 replaces the long-standing incurred loss model with an expected credit loss model that recognizes credit losses over the life of a financial asset. Expected credit losses capture historical information, current conditions, and reasonable and supportable forecasts of future conditions. The ACL is deducted from the amortized cost of an instrument to present the net amount expected to be collected on the financial asset. Our ACL primarily consists of the aggregate ACL estimates of our Subsidiary Banks. The estimates are established through charges to operations in the form of charges to provisions for credit loss expense. Loan losses or recoveries are charged or credited directly to the ACL. The ACL of each Subsidiary Bank is maintained at a level considered appropriate by management, based on estimated current expected credit losses in the current loan portfolio, including information about past events, current conditions and reasonable and supportable forecasts. The estimation of the ACL is based on a loss-rate methodology that measures lifetime losses on loan pools that have similar risk characteristics. Loans that do not have similar risk characteristics are evaluated on an individual basis. The segmentation of the loan portfolio into pools requires a balancing process between capturing similar risk characteristics and containing sufficient loss history to provide meaningful results. Our segmentation starts at the general loan category with further sub-segmentation based on collateral types that may be of meaningful size and/or may contain sufficient differences in risk characteristics based on management’s judgement that would warrant further segmentation. The general loan categories along with primary risk characteristics used in our calculation are as follows: Commercial and industrial loans. into sales are risk factors in the repayment of the loan. A small portion of this loan category is related to loans secured by oil & gas production and loans secured by aircraft. Construction and land development loans. Commercial real estate loans. 1-4 family mortgages. Consumer loans. The loan pools are further broken down using a risk-based segmentation based on internal classifications for commercial loans and past due status for consumer mortgage loans. Non-mortgage consumer loans are evaluated as one segment. On a weekly basis, commercial loan past due reports are reviewed by the credit quality committee to determine if a loan has any potential problems and if a loan should be placed on our internal Watch List report. Additionally, our credit department reviews the majority of our loans for proper internal classification purposes regardless of whether they are past due and segregates any loans with potential problems for further review. The credit department will discuss the potential problem loans with the servicing loan officers to determine any relevant issues that were not discovered in the evaluation. Also, an analysis of loans that is provided through examinations by regulatory authorities is considered in the review process. After the above analysis is completed, we will determine if a loan should be placed on an internal Watch List report because of issues related to the analysis of the credit, credit documents, collateral and/or payment history. Our internal Watch List report is segregated into the following categories: (i) Pass, (ii) Economic Monitoring, (iii) Special Review, (iv) Watch List—Pass, or (v) Watch List—Substandard, and (vi) Watch List—Doubtful. The loans placed in the Special Review category and lower rated credits reflect our opinion that the loans reflect potential weakness which require monitoring on a more frequent basis. Credits in those categories are reviewed and discussed on a regular basis, no less frequently than quarterly, with the credit department and the lending staff to determine if a change in category is warranted. The loans placed in the Watch List—Pass category and lower rated credits reflect our opinion that the credit contains weaknesses which represent a greater degree of risk, which warrant “extra attention.” Credits in this category are reviewed and discussed on a regular basis with the credit department and the lending staff to determine if a change in category is warranted. The loans placed in the Watch List—Substandard category are considered to be potentially inadequately protected by the current sound worth and debt service capacity of the borrower or of any pledged collateral. These credit obligations, even if apparently protected by collateral value, have shown defined weaknesses related to adverse financial, managerial, economic, market or political conditions which may jeopardize repayment of principal and interest. Furthermore, there is the possibility that we may sustain some future loss if such weaknesses are not corrected. The loans placed in the Watch List—Doubtful category have shown defined weaknesses and it is likely, based on current information and events, that we will be unable to collect all principal and/or interest amounts contractually due. Watch List—Doubtful loans are placed on non-accrual when they are moved to that category. For the purposes of the ACL, in order to maintain segments with sufficient history for meaningful results, the credits in the Pass and Economic Monitoring categories are aggregated, the credits in the Special Review and Watch List—Pass credits are aggregated, and the credits in the Watch List—Substandard category remain in their own segment. For loans that are classified as Watch List—Doubtful, management evaluates these credits in accordance with ASC 310-10, “Receivables,” and, if deemed necessary, a specific reserve is allocated to the loan. The specific reserve allocated under ASC 310-10, is based on (i) the present value of expected future cash flows discounted at the loan’s effective interest rate; (ii) the loan’s observable market price; or (iii) net realizable value of the fair value of the collateral if the loan is collateral dependent. Substantially all of our loans evaluated as Watch List—Doubtful under ASC 310-10 are measured using the fair value of collateral method. In rare cases, we may use other methods to determine the specific reserve of a loan under ASC 310-10 if such loan is not collateral dependent. Within each collectively evaluated pool, the robustness of the lifetime historical loss-rate is evaluated and, if needed, is supplemented with peer loss rates through a model risk adjustment. Certain qualitative loss factors are then evaluated to incorporate management’s two-year reasonable and supportable forecast period followed by a reversion to the pool’s average lifetime loss-rate. Those qualitative loss factors are: (i) trends in portfolio volume and composition, (ii) volume and trends in classified loans, delinquencies, non-accruals and TDR’s, (iii) concentration risk, (iv) trends in underlying collateral value, (v) changes in policies, procedures, and strategies, and (vi) economic conditions. Qualitative factors also include potential losses stemming from operational risk factors arising from fraud, natural disasters, pandemics and geopolitical events. Should any of the factors considered by management in evaluating the adequacy of the ACL change, our estimate could also change, which could affect the level of future credit loss expense. We have elected to not measure an ACL for accrued interest receivable given our timely approach in identifying and writing off uncollectible accrued interest. An ACL for off-balance sheet exposure is derived from a projected usage rate of any unfunded commitment multiplied by the historical loss rate, plus model risk adjustment, if any, of the on-balance sheet loan pools. Our management continually reviews the ACL of the Subsidiary Banks using the amounts determined from the estimates established on specific doubtful loans, the estimate established on quantitative historical loss percentages, and the estimate based on qualitative current conditions and reasonable and supportable two-year forecasted data. Our methodology reverts to the average lifetime loss-rate beyond the forecast period when we can no longer develop reasonable and supportable forecasts. Should any of the factors considered by management in evaluating the adequacy of the estimate for current expected credit losses change, our estimate of current expected credit losses could also change, which could affect the level of future credit loss expense. While the calculation of our ACL utilizes management’s best judgment and all information reasonably available, the adequacy of the ACL is dependent on a variety of factors beyond our control, including, among other things, the performance of the entire loan portfolio, the economy, government actions, changes in interest rates and the view of regulatory authorities towards loan classifications. A summary of the transactions in the allowance for credit loan losses by loan class is as follows: Three Months Ended September 30, 2020 Domestic Foreign Commercial Real Estate: Other Commercial Construction & Real Estate: Commercial Land Farmland & Real Estate: Residential: Residential: Commercial Development Commercial Multifamily First Lien Junior Lien Consumer Foreign Total (Dollars in Thousands) Balance at June 30, 2020 $ 20,079 $ 40,924 $ 18,711 $ 1,864 $ 3,208 $ 8,964 $ 288 $ 516 $ 94,554 Losses charged to allowance (1,735) — — — (87) (3) (62) — (1,887) Recoveries credited to allowance 523 14 86 — 8 51 46 — 728 Net (losses) recoveries charged to allowance (1,212) 14 86 — (79) 48 (16) — (1,159) Provision charged (credited) to operations 3,277 (2,855) 4,892 2,639 400 293 2 122 8,770 Balance at September 30, 2020 $ 22,144 $ 38,083 $ 23,689 $ 4,503 $ 3,529 $ 9,305 $ 274 $ 638 $ 102,165 Three Months Ended September 30, 2019 Domestic Foreign Commercial Real Estate: Other Commercial Construction & Real Estate: Commercial Land Farmland & Real Estate: Residential: Residential: Commercial Development Commercial Multifamily First Lien Junior Lien Consumer Foreign Total (Dollars in Thousands) Balance at June 30, 2019 $ 11,780 $ 15,273 $ 17,029 $ 1,849 $ 3,627 $ 7,312 $ 488 $ 845 $ 58,203 Losses charged to allowance (3,231) — (468) — (164) (214) (216) — (4,293) Recoveries credited to allowance 585 4 10 — 3 65 5 — 672 Net (losses) recoveries charged to allowance (2,646) 4 (458) — (161) (149) (211) — (3,621) Provision charged (credited) to operations 1,837 1,573 230 350 263 852 199 (26) 5,278 Balance at September 30, 2019 $ 10,971 $ 16,850 $ 16,801 $ 2,199 $ 3,729 $ 8,015 $ 476 $ 819 $ 59,860 Nine Months Ended September 30, 2020 Domestic Foreign Commercial Real Estate: Other Commercial Construction & Real Estate: Commercial Land Farmland & Real Estate: Residential: Residential: Commercial Development Commercial Multifamily First Lien Junior Lien Consumer Foreign Total (Dollars in Thousands) Balance at December 31, 2019 $ 11,145 $ 18,152 $ 16,533 $ 1,786 $ 3,762 $ 7,535 $ 542 $ 823 $ 60,278 Adoption of ASU 2016-13 4,247 13,391 (4,292) (355) (1,580) (429) (225) (410) 10,347 Losses charged to allowance (6,696) (19) (55) — (123) (124) (192) — (7,209) Recoveries credited to allowance 1,793 15 107 — 10 171 58 — 2,154 Net (losses) recoveries charged to allowance (4,903) (4) 52 — (113) 47 (134) — (5,055) Provision charged to operations 11,655 6,544 11,396 3,072 1,460 2,152 91 225 36,595 Balance at September 30, 2020 $ 22,144 $ 38,083 $ 23,689 $ 4,503 $ 3,529 $ 9,305 $ 274 $ 638 $ 102,165 Nine Months Ended September 30, 2019 Domestic Foreign Commercial Real Estate: Other Commercial Construction & Real Estate: Commercial Land Farmland & Real Estate: Residential: Residential: Commercial Development Commercial Multifamily First Lien Junior Lien Consumer Foreign Total (Dollars in Thousands) Balance at December 31, 2018 $ 12,596 $ 15,123 $ 19,353 $ 1,808 $ 3,467 $ 7,719 $ 447 $ 871 $ 61,384 Losses charged to allowance (11,011) — (7,347) — (166) (314) (334) — (19,172) Recoveries credited to allowance 1,631 80 308 — 14 222 30 — 2,285 Net (losses) recoveries charged to allowance (9,380) 80 (7,039) — (152) (92) (304) — (16,887) Provision charged (credited) to operations 7,755 1,647 4,487 391 414 388 333 (52) 15,363 Balance at September 30, 2019 $ 10,971 $ 16,850 $ 16,801 $ 2,199 $ 3,729 $ 8,015 $ 476 $ 819 $ 59,860 The increase in credit loss expense for the three and nine months ended September 30, 2020 can be primarily attributed to the deteriorating economic conditions occurring in those periods as a result of COVID-19 and the impact of those conditions on certain segments of our ACL calculation for those periods. We adopted the provisions of ASU 2016-13 on January 1, 2020, resulting in a transition from the long-standing incurred loss model to an expected credit loss model. Impacting the provision for loan loss for the nine months ended September 30, 2019 is a relationship that is secured by multiple pieces of real property on which car dealerships are operated. The relationship began deteriorating in the fourth quarter of 2018, triggered by significant fraud by a high level insider of the car dealership resulting in the dealerships unexpectedly filing for bankruptcy and creating an exposure for potential loss since the operations of the dealerships were the source of repayment from the borrower. The relationship further deteriorated in the first quarter of 2019 after the court approved debtor in possession plan sponsor discontinued its role in the process and thus did not fulfill its obligation to assume full responsibility of the accrued and unpaid interest. Although the relationship is secured by real property (the dealerships’ real estate), the real property has specialized use, contributing to the potential exposure for probable loss. During the first quarter of 2019, in light of the circumstances and management’s evaluation of the relationship, the decision was made to classify the relationship as doubtful (previously referred to as impaired prior to the adoption of ASU 2016-13), non-accrual status and place a specific reserve on the relationship in the amount of $9.5 million. During the second quarter of 2019, management continued to evaluate the relationship and decided to foreclose on the underlying real estate collateral, resulting in a charge-off of approximately $9,500,000 , reflected in the tables above as part of the Commercial and Commercial Real Estate: Farmland and Commercial categories. The table below provides additional information on the balance of loans individually or collectively evaluated for impairment and their related allowance, by loan class as of September 30, 2020 and December 31, 2019: September 30, 2020 Loans Individually Loans Collectively Evaluated For Evaluated For Impairment Impairment Recorded Recorded Investment Allowance Investment Allowance (Dollars in Thousands) Domestic Commercial $ 1,444 $ 411 $ 1,876,535 $ 21,733 Commercial real estate: other construction & land development 911 70 1,942,519 38,013 Commercial real estate: farmland & commercial 501 — 2,110,448 23,689 Commercial real estate: multifamily 137 — 437,801 4,503 Residential: first lien 243 — 409,772 3,529 Residential: junior lien 38 — 623,593 9,305 Consumer 3 — 41,107 274 Foreign — — 144,183 638 Total $ 3,277 $ 481 $ 7,585,958 $ 101,684 December 31, 2019 Loans Individually Loans Collectively Evaluated For Evaluated For Impairment Impairment Recorded Recorded Investment Allowance Investment Allowance (Dollars in Thousands) Domestic Commercial $ 1,935 $ 249 $ 1,290,725 $ 10,895 Commercial real estate: other construction & land development 938 116 2,184,945 18,037 Commercial real estate: farmland & commercial 1,208 — 1,895,539 16,533 Commercial real estate: multifamily 165 — 190,265 1,786 Residential: first lien 6,278 — 427,623 3,762 Residential: junior lien 692 — 705,784 7,535 Consumer 1,195 — 46,605 542 Foreign 264 — 140,785 823 Total $ 12,675 $ 365 $ 6,882,271 $ 59,913 The table below provides additional information on loans accounted for on a non-accrual basis by loan class at September 30, 2020 and December 31, 2019: September 30, 2020 December 31, 2019 (Dollars in Thousands) Domestic Commercial $ 1,444 $ 1,901 Commercial real estate: other construction & land development 911 938 Commercial real estate: farmland & commercial 501 1,208 Commercial real estate: multifamily 137 165 Residential: first lien 727 670 Residential: junior lien 38 — Consumer 3 4 Total non-accrual loans $ 3,761 $ 4,886 Watch—List Doubtful loans are those loans where it is probable that all amounts due according to the contractual terms of the loan agreement will not be collected. We have identified these loans through our normal loan review procedures. Watch—List Doubtful loans are measured based on (i) the present value of expected future cash flows discounted at the loan’s effective interest rate; (ii) the loan’s observable market price; or (iii) the fair value of the collateral, if the loan is collateral dependent. Substantially all of our doubtful loans are measured at the fair value of the collateral. In limited cases, we may use other methods to determine the level of impairment of a loan if such loan is not collateral dependent. The following tables detail key information regarding our doubtful (previously referred to as impaired prior to the adoption of ASU 2016-13) loans by loan class at December 31, 2019, in accordance with ASC 310 prior to the adoption of ASU 2016-13: December 31, 2019 Unpaid Average Recorded Principal Related Recorded Interest Investment Balance Allowance Investment Recognized (Dollars in Thousands) Loans with Related Allowance Domestic Commercial $ 510 $ 516 $ 249 $ 514 $ — Commercial real estate: other construction & land development 126 169 116 131 — Total impaired loans with related allowance $ 636 $ 685 $ 365 $ 645 $ — December 31, 2019 Unpaid Average Recorded Principal Recorded Interest Investment Balance Investment Recognized (Dollars in Thousands) Loans with No Related Allowance Domestic Commercial $ 1,425 $ 1,516 $ 16,194 $ 3 Commercial real estate: other construction & land development 812 1,133 2,151 — Commercial real estate: farmland & commercial 1,208 1,841 36,632 — Commercial real estate: multifamily 165 168 565 — Residential: first lien 6,278 6,445 7,136 305 Residential: junior lien 692 692 976 44 Consumer 1,195 1,196 1,211 2 Foreign 264 264 327 14 Total impaired loans with no related allowance $ 12,039 $ 13,255 $ 65,192 $ 368 The following table details key information regarding our doubtful (previously referred to as impaired prior to the adoption of ASU 2016-13) loans by loan class at September 30, 2019, in accordance with ASC 310 prior to the adoption of ASU 2016-13: September 30, 2019 Quarter to Date Year to Date Average Average Recorded Interest Recorded Interest Investment Recognized Investment Recognized (Dollars in Thousands) Loans with Related Allowance Domestic Commercial $ 602 $ — $ 616 $ — Commercial real estate: other construction & land development 129 — 132 — Total impaired loans with related allowance $ 731 $ — $ 748 $ — September 30, 2019 Quarter to Date Year to Date Average Average Recorded Interest Recorded Interest Investment Recognized Investment Recognized (Dollars in Thousands) Loans with No Related Allowance Domestic Commercial $ 8,002 $ 1 $ 17,945 $ 2 Commercial real estate: other construction & land development 1,674 — 1,767 — Commercial real estate: farmland & commercial 3,222 — 22,389 — Commercial real estate: multifamily 653 — 656 — Residential: first lien 6,427 78 6,698 231 Residential: junior lien 914 10 1,028 32 Consumer 1,131 — 1,088 — Foreign 274 3 281 9 Total impaired loans with no related allowance $ 22,297 $ 92 $ 51,852 $ 274 The following table details loans accounted for as “troubled debt restructuring,” segregated by loan class. Loans accounted for as troubled debt restructuring are included in Watch List—Doubtful loans. September 30, 2020 December 31, 2019 (Dollars in Thousands) Domestic Commercial $ — $ 32 Residential: first lien 4,149 5,608 Residential: junior lien 557 692 Consumer 888 1,192 Foreign 241 264 Total troubled debt restructuring $ 5,835 $ 7,788 We are actively working with our customers affected by the current economic crisis arising from COVID-19. We have been offering and are prepared to continue to offer assistance in accordance with current regulatory guidance. That includes continuously reaching out to our customers and, in some cases, offering short-term payment deferral plans. As of November 3, 2020, we had approximately $1,799,000,000 in loans with some degree of payment deferrals in our system. In accordance with interagency regulatory guidance, these short-term deferrals are not considered troubled debt restructurings. The end of the deferral period on these loans will primarily be in the fourth quarter of 2020, and we anticipate that approximately 83 % of the loans will resume regular payments at the end of their deferral period. We expect that approximately 17 % of the loans in some sort of deferral program will be requesting additional relief. The loans requesting additional relief will include some customers in the industries that have been significantly impacted by the COVID-19 pandemic, including the hospitality sector, the oil and gas industry, and retail developments. With the passage of the Paycheck Protection Program (“PPP”), administered by the Small Business Association (“SBA”), we are actively assisting our customers with applications for loans through the PPP. PPP loans earn interest at 1% and PPP loans made prior to June 5, 2020 have a two-year term, while those made after June 5, 2020 have a five-year term; however, PPP loans also include forgiveness provisions that we expect most customers will utilize. Customers began submitting applications for the forgiveness program in the third quarter. PPP loans are intended to support weeks of payroll and certain other costs to help those businesses remain viable and allow their employees to pay their bills. As of November 3, 2020, we had 4,944 PPP loans totaling approximately $455,347,000 outstanding. The PPP loans are fully guaranteed by the U.S. government through the SBA. The Subsidiary Banks charge-off that portion of any loan which management considers to represent a loss as well as that portion of any other loan which is classified as a “loss” by bank examiners. Commercial and industrial or real estate loans are generally considered by management to represent a loss, in whole or part, when an exposure beyond any collateral coverage is apparent and when no further collection of the loss portion is anticipated based on the borrower’s financial condition and general economic conditions in the borrower’s industry. Generally, unsecured consumer loans are charged-off when 90 days past due. While our management believes that it is generally able to identify borrowers with financial problems reasonably early and to monitor credit extended to such borrowers carefully, there is no precise method of predicting loan losses. The determination that a loan is likely to be uncollectible and that it should be wholly or partially charged-off as a loss is an exercise of judgment. Similarly, the determination of the adequacy of the ACL can be made only on a subjective basis. It is the judgment of our management that the ACL at September 30, 2020 was adequate to absorb probable losses from loans in the portfolio at that date. The following tables present information regarding the aging of past due loans by loan class at September 30, 2020 and December 31, 2019: September 30, 2020 90 Days or Total 30 - 59 60 - 89 90 Days or greater & Past Total Days Days Greater still accruing Due Current Portfolio (Dollars in Thousands) Domestic Commercial $ 3,079 $ 238 $ 1,439 $ 971 $ 4,756 $ 1,873,223 $ 1,877,979 Commercial real estate: other construction & land development 2,242 16,603 142 142 18,987 1,924,443 1,943,430 Commercial real estate: farmland & commercial 1,702 259 — — 1,961 2,108,989 2,110,950 Commercial real estate: multifamily 22 137 — — 159 437,778 437,937 Residential: first lien 2,288 910 6,427 5,963 9,625 400,390 410,015 Residential: junior lien 564 722 945 945 2,231 621,400 623,631 Consumer 460 35 36 33 531 40,579 41,110 Foreign 461 250 205 205 916 143,267 144,183 Total past due loans $ 10,818 $ 19,154 $ 9,194 $ 8,259 $ 39,166 $ 7,550,069 $ 7,589,235 December 31, 2019 90 Days or Total 30 - 59 60 - 89 90 Days or greater & Past Total Days Days Greater still accruing Due Current Portfolio (Dollars in Thousands) Domestic Commercial $ 3,134 $ 626 $ 1,292 $ 421 $ 5,052 $ 1,287,608 $ 1,292,660 Commercial real estate: other construction & land development 509 55 — — 564 2,185,319 2,185,883 Commercial real estate: farmland & commercial 8,058 2,031 54,928 54,878 65,017 1,831,730 1,896,747 Commercial real estate: multifamily 313 — 165 — 478 189,952 190,430 Residential: first lien 3,229 1,670 3,660 3,107 8,559 425,342 433,901 Residential: junior lien 1,112 477 1,200 1,200 2,789 703,687 706,476 Consumer 467 75 88 88 630 47,170 47,800 Foreign 1,347 3 11 11 1,361 139,688 141,049 Total past due loans $ 18,169 $ 4,937 $ 61,344 $ 59,705 $ 84,450 $ 6,810,496 $ 6,894,946 The increase in Commercial Real Estate - Other Construction and Land Development loans 60-89 days past due at September 30, 2020 can be attributed a loan secured by a commercial pad site. The decrease in Commercial Real Estate - Farmland and Commercial loans 90 days or greater for the same period can be attributed to a relationship secured by real estate on which children’s learning centers are operated. A summary of the loan portfolio by credit quality indicator by loan class and by year of origination at September 30, 2020 is presented below. A summary of the loan portfolio by credit quality indicator presented at December 31, 2019, based on guidance prior to the adoption of ASU 2016-13, is also presented below: 2020 2019 2018 2017 2016 Prior Total (Dollars in Thousands) Balance at September 30, 2020 Domestic Commercial Pass $ 1,092,774 $ 307,257 $ 171,592 $ 133,566 $ 19,838 $ 11,571 $ 1,736,598 Special Review 72,904 393 — — — — 73,297 Watch List - Pass 1,227 34,757 29,658 — — 22 65,664 Watch List - Substandard — — 653 — 323 — 976 Watch List - Doubtful 799 314 163 168 — — 1,444 Total Commercial $ 1,167,704 $ 342,721 $ 202,066 $ 133,734 $ 20,161 $ 11,593 $ 1,877,979 Commercial real estate: other construction & land development Pass $ 613,492 $ 665,095 $ 450,605 $ 132,837 $ 13,965 $ 7,602 $ 1,883,596 Special Review 12,625 — — — — — 12,625 Watch List - Pass 2,344 25,185 — — — — 27,529 Watch List - Substandard 18,769 — — — — — 18,769 Watch List - Doubtful 118 793 — — — — 911 Total Commercial real estate: other construction & land development $ 6

Stock Options

Stock Options	9 Months Ended
Stock Options	Sep. 30, 2020
Stock Options
Stock Options	Note 5 — Stock Options On April 5, 2012, the Board of Directors adopted the 2012 International Bancshares Corporation Stock Option Plan (the “2012 Plan”). There are 800,000 shares of common stock available for stock option grants under the 2012 Plan, which may be qualified incentive stock options (“ISOs”) or non-qualified stock options. Options granted may be exercisable for a period of up to 10 years from the date of grant, excluding ISOs granted to 10% shareholders, which may be exercisable for a period of up to only five years . As of September 30, 2020, 4,352 shares were available for future grants under the 2012 Plan. A summary of option activity under the stock option plan for the nine months ended September 30, 2020 is as follows: Weighted Weighted average average remaining Aggregate Number of exercise contractual intrinsic options price term (years) value ($) (in Thousands) Options outstanding at December 31, 2019 658,588 $ 27.55 Plus: Options granted 35,000 18.79 Less: Options exercised 19,198 21.23 Options expired — — Options forfeited 10,701 31.28 Options outstanding at September 30, 2020 663,689 27.21 5.29 $ 3,928 Options fully vested and exercisable at September 30, 2020 414,632 $ 22.90 3.84 $ 3,416 Stock-based compensation expense included in the consolidated statements of income for the three and nine months ended September 30, 2020 was $176,000 and $571,000 , respectively. Stock-based compensation expense included in the consolidated statements of income for the three and nine months ended September 30, 2019 was $240,000 and $744,000 , respectively. As of September 30, 2020, there was approximately $1,401,000 of total unrecognized stock-based compensation cost related to non-vested options granted under our plans that will be recognized over a weighted average period of 1.7 years.

Investment Securities and Equit

Investment Securities and Equity Securities with Readily Determinable Fair Values	9 Months Ended
	Sep. 30, 2020
Investment Securities and Equity Securities with Readily Determinable Fair Values
Investment Securities and Equity Securities with Readily Determinable Fair Values	Note 6 — Investment Securities and Equity Securities with Readily Determinable Fair Values We classify debt securities into one of three categories: held-to maturity, available-for-sale, or trading. Such debt securities are reassessed for appropriate classification at each reporting date. Securities classified as “held-to-maturity” are carried at amortized cost for financial statement reporting, while securities classified as “available-for-sale” and “trading” are carried at their fair value. Unrealized holding gains and losses are included in net income for those securities classified as “trading,” while unrealized holding gains and losses related to those securities classified as “available-for-sale” are excluded from net income and reported net of tax as other comprehensive income (loss) and accumulated other comprehensive income (loss) until realized, or in the case of losses, when deemed other than temporary. In accordance with ASU 2016-13, which we adopted on January 1, 2020, available-for-sale and held-to-maturity debt securities in an unrealized loss position must be evaluated for the underlying cause of the loss. In the event that the deterioration in value is attributable to credit related reasons, then the amount of credit-related impairment would be recorded as a charge to our ACL with subsequent changes in the amount of impairment, up or down, also recorded through our ACL. The exception to this process will occur if we intend to sell an impaired available-for-sale debt security or if we will more likely than not be required to sell a credit impaired available-for-sale debt security prior to the value recovering to the security’s amortized cost. In those situations, the entire credit-related impairment amount would be required to be recognized in earnings. We have evaluated the debt securities classified as available-for-sale and held-to-maturity at September 30, 2020 and have determined that no debt securities in an unrealized loss position are arising from credit related reasons and have therefore not recorded any allowances for debt securities in our ACL for the period. Unrealized gains and losses related to equity securities with readily determinable fair values are included in net income. The amortized cost and estimated fair value by type of investment security at September 30, 2020 are as follows: Held to Maturity Gross Gross Amortized unrealized unrealized Estimated Carrying cost gains losses fair value value (Dollars in Thousands) Other securities $ 3,400 $ — $ — $ 3,400 $ 3,400 Total investment securities $ 3,400 $ — $ — $ 3,400 $ 3,400 Available for Sale Debt Securities Gross Gross Amortized unrealized unrealized Estimated Carrying cost gains losses fair value value (1) (Dollars in Thousands) Residential mortgage-backed securities $ 3,196,279 $ 42,525 $ (4,069) $ 3,234,735 $ 3,234,735 Obligations of states and political subdivisions 61,322 2,797 (14) 64,105 64,105 Total investment securities $ 3,257,601 $ 45,322 $ (4,083) $ 3,298,840 $ 3,298,840 (1) Included in the carrying value of residential mortgage-backed securities are $438,961of mortgage-backed securities issued by Ginnie Mae and $2,795,774 of mortgage-backed securities issued by Fannie Mae and Freddie Mac. The amortized cost and estimated fair value by type of investment security at December 31, 2019 are as follows: Held to Maturity Gross Gross Amortized unrealized unrealized Estimated Carrying cost gains losses fair value value (Dollars in Thousands) Other securities $ 2,400 $ — $ — $ 2,400 $ 2,400 Total investment securities $ 2,400 $ — $ — $ 2,400 $ 2,400 Available for Sale Gross Gross Estimated Amortized unrealized unrealized fair Carrying cost gains losses value value (1) (Dollars in Thousands) Residential mortgage-backed securities $ 3,285,623 $ 16,534 $ (16,609) $ 3,285,548 $ 3,285,548 Obligations of states and political subdivisions 90,447 2,933 (5) 93,375 93,375 Total investment securities $ 3,376,070 $ 19,467 $ (16,614) $ 3,378,923 $ 3,378,923 (1) Included in the carrying value of residential mortgage-backed securities are $521,247 of mortgage-backed securities issued by Ginnie Mae and $2,714,301 of mortgage-backed securities issued by Fannie Mae and Freddie. The amortized cost and estimated fair value of investment securities at September 30, 2020, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to prepay obligations with or without prepayment penalties. Held to Maturity Available for Sale Amortized Estimated Amortized Estimated Cost fair value Cost fair value (Dollars in Thousands) Due in one year or less $ 1,200 $ 1,200 $ — $ — Due after one year through five years 2,200 2,200 — — Due after five years through ten years — — 355 356 Due after ten years — — 60,967 63,749 Residential mortgage-backed securities — — 3,196,279 3,234,735 Total investment securities $ 3,400 $ 3,400 $ 3,257,601 $ 3,298,840 Residential mortgage-backed securities are securities primarily issued by the Federal Home Loan Mortgage Corporation (“Freddie Mac”), Federal National Mortgage Association (“Fannie Mae”), or the Government National Mortgage Association (“Ginnie Mae”). Investments in residential mortgage-backed securities issued by Ginnie Mae are fully guaranteed by the U.S. Government. Investments in residential mortgage-backed securities issued by Freddie Mac and Fannie Mae are not fully guaranteed by the U.S. Government, however, we believe that the quality of the bonds is similar to other AAA rated bonds with limited credit risk, particularly given the placement of Fannie Mae and Freddie Mac into conservatorship by the federal government in early September 2008 and because securities issued by others that are collateralized by residential mortgage-backed securities issued by Fannie Mae or Freddie Mac are rated consistently as AAA rated securities. The amortized cost and fair value of available-for-sale debt investment securities pledged to qualify for fiduciary powers, to secure public monies as required by law, repurchase agreements and short-term fixed borrowings was $1,116,960,000 and $1,131,366,000, respectively, at September 30, 2020. Proceeds from the sale and calls of debt securities available-for-sale were $9,875,000 and $28,795,000 for the three and nine months ended September 30, 2020, which included $0 and $0 of mortgage-backed securities, respectively. Gross gains of $0 and $0 and gross losses of $0 and $5 , respectively, were realized on the sales and calls for the three and nine months ended September 30, 2020. Proceeds from the sale and call of debt securities available-for-sale were $32,285,000 and $92,980,000 for the three and nine months ended September 30, 2019, which included $0 and $0 of mortgage-backed securities, respectively. Gross gains of $1 and $4 and gross losses of $3 and $16 were realized on the sales and calls for the three and nine months ended September 30, 2019, respectively. Gross unrealized losses on debt investment securities and the fair value of the related securities, aggregated by investment category and length of time that individual debt securities have been in a continuous unrealized loss position at September 30, 2020, were as follows: Less than 12 months 12 months or more Total Unrealized Unrealized Unrealized Fair Value Losses Fair Value Losses Fair Value Losses (Dollars in Thousands) Available for sale: Residential mortgage-backed securities $ 1,194,001 $ (4,069) $ — $ — $ 1,194,001 $ (4,069) Obligations of states and political subdivisions — — 757 (14) 757 (14) $ 1,194,001 $ (4,069) $ 757 $ (14) $ 1,194,758 $ (4,083) Gross unrealized losses on investment securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2019 were as follows: Less than 12 months 12 months or more Total Unrealized Unrealized Unrealized Fair Value Losses Fair Value Losses Fair Value Losses (Dollars in Thousands) Available for sale: Residential mortgage-backed securities $ 523,031 $ (2,269) $ 1,448,109 $ (14,340) $ 1,971,140 $ (16,609) Obligations of states and political subdivisions 766 (5) — — 766 (5) $ 523,797 $ (2,274) $ 1,448,109 $ (14,340) $ 1,971,906 $ (16,614) The unrealized losses on investments in residential mortgage-backed securities are primarily caused by changes in market interest rates. We have no intent to sell and will more than likely not be required to sell before a market price recovery or maturity of the securities; therefore, it is our conclusion that the investments in residential mortgage-backed securities issued by Freddie Mac, Fannie Mae and Ginnie Mae are not considered other-than-temporarily impaired. Equity securities with readily determinable fair values consist primarily of Community Reinvestment Act funds. At September 30, 2020 and December 31, 2019, the balance in equity securities with readily determinable fair values recorded at fair value were $6,182,000 and $6,095,000 , respectively. The following is a summary of unrealized and realized gains and losses recognized in net income on equity securities during the three and nine months ended September 30, 2020 and the three and nine months ended September 30, 2019: Three Months Ended September 30, 2020 (Dollars in Thousands) Net losses recognized during the period on equity securities $ (12) Less: Net gains and (losses) recognized during the period on equity securities sold during the period — Unrealized losses recognized during the reporting period on equity securities still held at the reporting date $ (12) Nine Months Ended September 30, 2020 (Dollars in Thousands) Net gains recognized during the period on equity securities $ 87 Less: Net gains and (losses) recognized during the period on equity securities sold during the period — Unrealized gains recognized during the reporting period on equity securities still held at the reporting date $ 87 Three Months Ended September 30, 2019 (Dollars in Thousands) Net gains recognized during the period on equity securities $ 45 Less: Net gains and (losses) recognized during the period on equity securities sold during the period — Unrealized gains recognized during the reporting period on equity securities still held at the reporting date $ 45 Nine Months Ended September 30, 2019 (Dollars in Thousands) Net gains recognized during the period on equity securities $ 235 Less: Net gains and (losses) recognized during the period on equity securities sold during the period — Unrealized gains recognized during the reporting period on equity securities still held at the reporting date $ 235

Other Borrowed Funds

Other Borrowed Funds	9 Months Ended
Other Borrowed Funds	Sep. 30, 2020
Other Borrowed Funds
Other Borrowed Funds	Note 7 — Other Borrowed Funds Other borrowed funds include FHLB borrowings, which are short-term and long-term borrowings issued by the FHLB of Dallas and the FHLB of Topeka at the market price offered at the time of funding. These borrowings are secured by residential mortgage-backed investment securities and a portion of our loan portfolio. At September 30, 2020, other borrowed funds totaled $436,373,000, a decrease of 30.3% from $626,511,000 at December 31, 2019. The decrease in borrowings can be primarily attributed to increased liquidity arising from deposit activity and principal and interest payments from available-for-sale debt securities.

Junior Subordinated Interest De

Junior Subordinated Interest Deferrable Debentures	9 Months Ended
Junior Subordinated Interest Deferrable Debentures	Sep. 30, 2020
Junior Subordinated Interest Deferrable Debentures
Junior Subordinated Interest Deferrable Debentures	Note 8 — Junior Subordinated Interest Deferrable Debentures As of September 30, 2020, we have five statutory business trusts under the laws of the State of Delaware, for the purpose of issuing trust preferred securities. The five statutory business trusts we formed (the “Trusts”) have each issued Capital and Common Securities and invested the proceeds thereof in an equivalent amount of junior subordinated debentures (“Debentures”) that we issued. As of September 30, 2020 and December 31, 2019, the principal amount of Debentures outstanding totaled $134,642,000. The Debentures are subordinated and junior in right of payment to all present and future senior indebtedness (as defined in the respective Indentures) and are pari passu Common Securities issued by the Trusts. We have fully and unconditionally guaranteed the obligations of each of the Trusts with respect to the Capital and Common Securities. We have the right, unless an Event of Default (as defined in the Indentures) has occurred and is continuing, to defer payment of interest on the Debentures for up to twenty consecutive quarterly periods on Trusts VIII, IX, X, XI and XII. If interest payments on any of the Debentures are deferred, distributions on both the Capital and Common Securities related to that Debenture would also be deferred. The redemption prior to maturity of any of the Debentures may require the prior approval of the Federal Reserve and/or other regulatory bodies. For financial reporting purposes, the Trusts are treated as our investments and not consolidated in our consolidated financial statements. Although the Capital and Common Securities issued by each of the Trusts are not included as a component of shareholders’ equity on the consolidated statement of condition, the Capital and Common Securities are treated as capital for regulatory purposes. Specifically, under applicable regulatory guidelines, the Capital and Common Securities issued by the Trusts qualify as Tier 1 capital up to a maximum of 25 % of Tier 1 capital on an aggregate basis. Any amount that exceeds the 25 % threshold would qualify as Tier 2 capital. At September 30, 2020 and December 31, 2019, the total $ The following table illustrates key information about each of the Capital and Common Securities and their interest rate at September 30, 2020: Junior Subordinated Deferrable Interest Repricing Interest Interest Optional Debentures Frequency Rate Rate Index(1) Maturity Date Redemption Date (1) (Dollars in Thousands) Trust VIII $ 25,774 Quarterly 3.33 % LIBOR + 3.05 October 2033 October 2008 Trust IX 41,238 Quarterly 1.92 % LIBOR + 1.62 October 2036 October 2011 Trust X 21,021 Quarterly 1.90 % LIBOR + 1.65 February 2037 February 2012 Trust XI 25,990 Quarterly 1.92 % LIBOR + 1.62 July 2037 July 2012 Trust XII 20,619 Quarterly 1.69 % LIBOR + 1.45 September 2037 September 2012 $ 134,642 (1) The Capital and Common Securities may be redeemed in whole or in part on any interest payment date after the Optional Redemption Date.

Common Stock and Dividends

Common Stock and Dividends	9 Months Ended
Common Stock and Dividends	Sep. 30, 2020
Common Stock and Dividends
Common Stock and Dividends	Note 9 — Common Stock and Dividends We paid cash dividends of $0.55 per share on April 3 and October 5, 2020 to record holders of our common stock on April 1 and September 21, 2020. We paid cash dividends of $0.50 and $0.55 per share on April 15 and October 15, 2019 to record holders of our common stock on April 1 and September 30, 2019, respectively. In April 2009, the Board of Directors re-established a formal stock repurchase program that authorized the repurchase of up to $40 million of common stock within the following 12 months . Annually since then, including on March 12, 2020, the Board of Directors extended the repurchase program and for the second year authorized an increase to purchase up to $50 million of common stock during the 12 month period commencing on March 16, 2020 (previous annual stock repurchase programs began on April 9). Shares of common stock may be purchased from time to time on the open market or through privately negotiated transactions. Shares purchased in this program will be held in treasury for reissue for various corporate purposes, including employee compensation plans. During the first quarter of 2020, the Board of Directors adopted a Rule 10b5-1 trading plan, and intends to adopt additional Rule 10b5-1 trading plans, that will allow us to purchase shares of our common stock during certain trading blackout periods when we ordinarily would not be in the market due to trading restrictions in our insider trading policy. During the term of a Rule 10b5-1 trading plan, purchases of common stock are automatic to the extent the conditions of the plan’s trading instructions are met. Shares purchased under the Rule 10b5-1 trading plan will be held in treasury for reissue for various corporate purposes, including employee stock compensation plans. As of November 3, 2020, a total of 12,267,402 shares had been repurchased under all programs at a cost of $357,054,000. We are not obligated to purchase shares under our stock repurchase program outside of its Rule 10b5-1 trading plan.

Commitments, Contingent Liabili

Commitments, Contingent Liabilities and Other Tax Matters	9 Months Ended
Commitments, Contingent Liabilities and Other Tax Matters	Sep. 30, 2020
Commitments, Contingent Liabilities and Other Tax Matters
Commitments, Contingent Liabilities and Other Tax Matters	Note 10 — Commitments and Contingent Liabilities and Other Tax Matters We are involved in various legal proceedings that are in various stages of litigation. We have determined, based on discussions with its counsel, that any material loss in such actions, individually or in the aggregate, is remote or the damages sought, even if fully recovered, would not be considered material to our consolidated financial position or results of operations. However, many of these matters are in various stages of proceedings and further developments could cause management to revise its assessment of these matters.

Capital Ratios

Capital Ratios	9 Months Ended
Capital Ratios	Sep. 30, 2020
Capital Ratios
Capital Ratios	Note 11 — Capital Ratios Banks and bank holding companies are subject to various regulatory capital requirements administered by state and federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance sheet items calculated under regulatory accounting practices. Capital amount and classifications are also subject to qualitative judgements by regulators about components, risk-weighting and other factors. On November 21, 2017, the OCC, the Federal Reserve and the FDIC finalized a proposed rule that extends the current treatment under the regulatory capital rules for certain regulatory capital deductions and risk weights and certain minority interest requirements, as they apply to banking organizations that are not subject to the advanced approaches capital rules. Effective January 1, 2018, the rule also pauses the full transition to the Basel III treatment of mortgage servicing assets, certain deferred tax assets, investments in the capital of unconsolidated financial institutions and minority interests. The agencies are also considering whether to make adjustments to the capital rules in response to CECL (the FASB Standard relating to current expected credit loss) and its potential impact on regulatory capital. On December 7, 2017, the Basel Committee on Banking Supervision unveiled the latest round of its regulatory capital framework, commonly called “Basel IV.” The framework makes changes to the capital framework first introduced as “Basel III” in 2010. The committee targeted 2022-2027 as the timeframe for implementation by regulators in individual countries, including the U.S. federal bank regulatory agencies (after notice and comment). On May 24, 2018, the EGRRCPA was enacted and, among other things, it includes a simplified capital rule change which effectively exempts banks with assets of less than $10 billion that exceed the “community bank leverage ratio,” from all risk-based capital requirements, including Basel III and its predecessors. The federal banking agencies must establish the “community bank leverage ratio” (a ratio of tangible equity to average consolidated assets) between 8% and 10% before community banks can begin to take advantage of this regulatory relief provision. Some of the Subsidiary Banks, with assets of less than $10 billion, may qualify for this exemption. Additionally, under the EGRRCPA, qualified bank holding companies with assets of up to $3 billion (currently $1 billion) will be eligible for the Federal Reserve’s Small Bank Holding Company Policy Statement, which eases limitations on the issuance of debt by holding companies. On August 28, 2018, the Federal Reserve issued an interim final rule expanding the applicability of its Small Bank Holding Company Policy Statement. While holding companies that meet the conditions of the policy statement are excluded from consolidated capital requirements, their depository institutions continue to be subject to minimum capital requirements. Finally, for banks that continue to be subject to the risk-based capital rules of Basel III (e.g., 150%), certain commercial real estate loans that were formally classified as high volatility commercial real estate 31 (“HVCRE”) will not be subject to heightened risk weights if they meet certain criteria. Also, while acquisition, development, and construction (“ADC”) loans will generally be subject to heightened risk weights, certain exceptions will apply. On September 18, 2018, the federal banking agencies issued a proposed rule modifying the agencies’ capital rules for HVCRE. We had a CET1 to risk-weighted assets ratio of 18.57% on September 30, 2020 and 18.58 % on December 31, 2019. We had a Tier 1 capital-to-average-total-asset (leverage) ratio of 14.74% and 16.65%, risk-weighted Tier 1 capital ratio of 19.77% and 19.80% and risk-weighted total capital ratio of 20.96% and 20.46 % at September 30, 2020 and December 31, 2019, respectively. Our CET1 capital consists of common stock and related surplus, net of treasury stock, and retained earnings. We and our Subsidiary Banks elected to opt-out of the requirement to include most components of accumulated other comprehensive income (loss) in the calculation of CET1 capital. CET1 is reduced by goodwill and other intangible assets, net of associated deferred tax liabilities and subject to transition provisions. Tier 1 capital includes CET1 capital and additional Tier 1 capital. Additional Tier 1 capital includes the Capital and Common Securities issued by the Trusts (see Note 8 above) up to a maximum of 25 % of Tier 1 capital on an aggregate basis. Any amount that exceeds the 25 % threshold qualifies as Tier 2 capital. As of September 30, 2020, the total of $134,642,000 of the Capital and Common Securities outstanding qualified as Tier 1 capital. We actively monitor the regulatory capital ratios to ensure that our Subsidiary Banks are well-capitalized under the regulatory framework. The CET1, Tier 1 and Total capital ratios are calculated by dividing the respective capital amounts by risk-weighted assets. Risk-weighted assets are calculated based on regulatory requirements and include total assets, excluding goodwill and other intangible assets, allocated by risk-weight category, and certain off-balance-sheet items, among other things. The leverage ratio is calculated by dividing Tier 1 capital by adjusted quarterly average total assets, which exclude goodwill and other intangible assets, among other things. We and our Subsidiary Banks are subject to the regulatory capital requirements administered by the Federal Reserve, and, for our Subsidiary Banks, the FDIC. Regulatory authorities can initiate certain mandatory actions if we or any of our Subsidiary Banks fail to meet the minimum capital requirements, which could have a direct material effect on our financial statements. Management believes, as of September 30, 2020, that we and each of our Subsidiary Banks meet all capital adequacy requirements to which we are subject.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Sep. 30, 2020
Fair Value Measurements
Assets and liabilities measured at fair value on a recurring basis	The following table represents assets and liabilities reported on the consolidated balance sheets at their fair value on a recurring basis as of September 30, 2020 by level within the fair value measurement hierarchy: Fair Value Measurements at Reporting Date Using (in Thousands) Quoted Prices in Active Significant Assets/Liabilities Markets for Other Significant Measured at Identical Observable Unobservable Fair Value Assets Inputs Inputs September 30, 2020 (Level 1) (Level 2) (Level 3) Measured on a recurring basis: Assets: Available for sale debt securities Residential mortgage-backed securities $ 3,234,735 $ — $ 3,234,735 $ — States and political subdivisions 64,105 — 64,105 — Equity Securities 6,182 6,182 — — $ 3,305,022 $ 6,182 $ 3,298,840 $ — The following table represents assets and liabilities reported on the consolidated balance sheets at their fair value on a recurring basis as of December 31, 2019 by level within the fair value measurement hierarchy: Fair Value Measurements at Reporting Date Using (in Thousands) Quoted Prices in Active Significant Assets/Liabilities Markets for Other Significant Measured at Identical Observable Unobservable Fair Value Assets Inputs Inputs December 31, 2019 (Level 1) (Level 2) (Level 3) Measured on a recurring basis: Assets: Available for sale securities Residential mortgage - backed securities $ 3,285,548 $ — $ 3,285,548 $ — States and political subdivisions 93,375 — 93,375 — Equity Securities 6,095 6,095 — — $ 3,385,018 $ 6,095 $ 3,378,923 $ —
Assets measured at fair value on a non-recurring basis	The following table represents financial instruments measured at fair value on a non-recurring basis as of and for the period ended September 30, 2020 by level within the fair value measurement hierarchy: Fair Value Measurements at Reporting Date Using (in thousands) Quoted Assets/Liabilities Prices in Measured at Active Significant Fair Value Markets for Other Significant Net Provision Period ended Identical Observable Unobservable (Credit) September 30, Assets Inputs Inputs During 2020 (Level 1) (Level 2) (Level 3) Period Measured on a non-recurring basis: Assets: Watch-List doubtful loans $ 393 $ — $ — $ 393 $ 156 Other real estate owned 1,594 — — 1,594 702 The following table represents financial instruments measured at fair value on a non-recurring basis as of and for the period ended December 31, 2019 by level within the fair value measurement hierarchy: Fair Value Measurements at Reporting Date Using (in thousands) Quoted Assets/Liabilities Prices in Measured at Active Significant Fair Value Markets Other Significant Net (Credit) Year ended for Identical Observable Unobservable Provision December 31, Assets Inputs Inputs During 2019 (Level 1) (Level 2) (Level 3) Period Measured on a non-recurring basis: Assets: Impaired loans $ 826 $ — $ — $ 826 $ 43 Other real estate owned 21,614 — — 21,614 322 Equity investment without a readily determinable fair value 28,166 — — 28,166 4,775

Loans (Tables)

Loans (Tables)	9 Months Ended
Loans (Tables)	Sep. 30, 2020
Loans
Summary of loans, by loan type	September 30, December 31, 2020 2019 (Dollars in Thousands) Commercial, financial and agricultural $ 4,426,866 $ 3,379,837 Real estate - mortgage 1,033,646 1,140,377 Real estate - construction 1,943,430 2,185,883 Consumer 41,110 47,800 Foreign 144,183 141,049 Total loans $ 7,589,235 $ 6,894,946

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	9 Months Ended
Allowance for Credit Losses (Tables)	Sep. 30, 2020
Allowance for Credit Losses
Loans individually or collectively evaluated for their impairment and related allowance, by loan class	Three Months Ended September 30, 2020 Domestic Foreign Commercial Real Estate: Other Commercial Construction & Real Estate: Commercial Land Farmland & Real Estate: Residential: Residential: Commercial Development Commercial Multifamily First Lien Junior Lien Consumer Foreign Total (Dollars in Thousands) Balance at June 30, 2020 $ 20,079 $ 40,924 $ 18,711 $ 1,864 $ 3,208 $ 8,964 $ 288 $ 516 $ 94,554 Losses charged to allowance (1,735) — — — (87) (3) (62) — (1,887) Recoveries credited to allowance 523 14 86 — 8 51 46 — 728 Net (losses) recoveries charged to allowance (1,212) 14 86 — (79) 48 (16) — (1,159) Provision charged (credited) to operations 3,277 (2,855) 4,892 2,639 400 293 2 122 8,770 Balance at September 30, 2020 $ 22,144 $ 38,083 $ 23,689 $ 4,503 $ 3,529 $ 9,305 $ 274 $ 638 $ 102,165 Three Months Ended September 30, 2019 Domestic Foreign Commercial Real Estate: Other Commercial Construction & Real Estate: Commercial Land Farmland & Real Estate: Residential: Residential: Commercial Development Commercial Multifamily First Lien Junior Lien Consumer Foreign Total (Dollars in Thousands) Balance at June 30, 2019 $ 11,780 $ 15,273 $ 17,029 $ 1,849 $ 3,627 $ 7,312 $ 488 $ 845 $ 58,203 Losses charged to allowance (3,231) — (468) — (164) (214) (216) — (4,293) Recoveries credited to allowance 585 4 10 — 3 65 5 — 672 Net (losses) recoveries charged to allowance (2,646) 4 (458) — (161) (149) (211) — (3,621) Provision charged (credited) to operations 1,837 1,573 230 350 263 852 199 (26) 5,278 Balance at September 30, 2019 $ 10,971 $ 16,850 $ 16,801 $ 2,199 $ 3,729 $ 8,015 $ 476 $ 819 $ 59,860 Nine Months Ended September 30, 2020 Domestic Foreign Commercial Real Estate: Other Commercial Construction & Real Estate: Commercial Land Farmland & Real Estate: Residential: Residential: Commercial Development Commercial Multifamily First Lien Junior Lien Consumer Foreign Total (Dollars in Thousands) Balance at December 31, 2019 $ 11,145 $ 18,152 $ 16,533 $ 1,786 $ 3,762 $ 7,535 $ 542 $ 823 $ 60,278 Adoption of ASU 2016-13 4,247 13,391 (4,292) (355) (1,580) (429) (225) (410) 10,347 Losses charged to allowance (6,696) (19) (55) — (123) (124) (192) — (7,209) Recoveries credited to allowance 1,793 15 107 — 10 171 58 — 2,154 Net (losses) recoveries charged to allowance (4,903) (4) 52 — (113) 47 (134) — (5,055) Provision charged to operations 11,655 6,544 11,396 3,072 1,460 2,152 91 225 36,595 Balance at September 30, 2020 $ 22,144 $ 38,083 $ 23,689 $ 4,503 $ 3,529 $ 9,305 $ 274 $ 638 $ 102,165 Nine Months Ended September 30, 2019 Domestic Foreign Commercial Real Estate: Other Commercial Construction & Real Estate: Commercial Land Farmland & Real Estate: Residential: Residential: Commercial Development Commercial Multifamily First Lien Junior Lien Consumer Foreign Total (Dollars in Thousands) Balance at December 31, 2018 $ 12,596 $ 15,123 $ 19,353 $ 1,808 $ 3,467 $ 7,719 $ 447 $ 871 $ 61,384 Losses charged to allowance (11,011) — (7,347) — (166) (314) (334) — (19,172) Recoveries credited to allowance 1,631 80 308 — 14 222 30 — 2,285 Net (losses) recoveries charged to allowance (9,380) 80 (7,039) — (152) (92) (304) — (16,887) Provision charged (credited) to operations 7,755 1,647 4,487 391 414 388 333 (52) 15,363 Balance at September 30, 2019 $ 10,971 $ 16,850 $ 16,801 $ 2,199 $ 3,729 $ 8,015 $ 476 $ 819 $ 59,860 September 30, 2020 Loans Individually Loans Collectively Evaluated For Evaluated For Impairment Impairment Recorded Recorded Investment Allowance Investment Allowance (Dollars in Thousands) Domestic Commercial $ 1,444 $ 411 $ 1,876,535 $ 21,733 Commercial real estate: other construction & land development 911 70 1,942,519 38,013 Commercial real estate: farmland & commercial 501 — 2,110,448 23,689 Commercial real estate: multifamily 137 — 437,801 4,503 Residential: first lien 243 — 409,772 3,529 Residential: junior lien 38 — 623,593 9,305 Consumer 3 — 41,107 274 Foreign — — 144,183 638 Total $ 3,277 $ 481 $ 7,585,958 $ 101,684 December 31, 2019 Loans Individually Loans Collectively Evaluated For Evaluated For Impairment Impairment Recorded Recorded Investment Allowance Investment Allowance (Dollars in Thousands) Domestic Commercial $ 1,935 $ 249 $ 1,290,725 $ 10,895 Commercial real estate: other construction & land development 938 116 2,184,945 18,037 Commercial real estate: farmland & commercial 1,208 — 1,895,539 16,533 Commercial real estate: multifamily 165 — 190,265 1,786 Residential: first lien 6,278 — 427,623 3,762 Residential: junior lien 692 — 705,784 7,535 Consumer 1,195 — 46,605 542 Foreign 264 — 140,785 823 Total $ 12,675 $ 365 $ 6,882,271 $ 59,913
Loans accounted on non-accrual basis, by loan class	September 30, 2020 December 31, 2019 (Dollars in Thousands) Domestic Commercial $ 1,444 $ 1,901 Commercial real estate: other construction & land development 911 938 Commercial real estate: farmland & commercial 501 1,208 Commercial real estate: multifamily 137 165 Residential: first lien 727 670 Residential: junior lien 38 — Consumer 3 4 Total non-accrual loans $ 3,761 $ 4,886
Impaired loans, by loan class	The following tables detail key information regarding our doubtful (previously referred to as impaired prior to the adoption of ASU 2016-13) loans by loan class at December 31, 2019, in accordance with ASC 310 prior to the adoption of ASU 2016-13: December 31, 2019 Unpaid Average Recorded Principal Related Recorded Interest Investment Balance Allowance Investment Recognized (Dollars in Thousands) Loans with Related Allowance Domestic Commercial $ 510 $ 516 $ 249 $ 514 $ — Commercial real estate: other construction & land development 126 169 116 131 — Total impaired loans with related allowance $ 636 $ 685 $ 365 $ 645 $ — December 31, 2019 Unpaid Average Recorded Principal Recorded Interest Investment Balance Investment Recognized (Dollars in Thousands) Loans with No Related Allowance Domestic Commercial $ 1,425 $ 1,516 $ 16,194 $ 3 Commercial real estate: other construction & land development 812 1,133 2,151 — Commercial real estate: farmland & commercial 1,208 1,841 36,632 — Commercial real estate: multifamily 165 168 565 — Residential: first lien 6,278 6,445 7,136 305 Residential: junior lien 692 692 976 44 Consumer 1,195 1,196 1,211 2 Foreign 264 264 327 14 Total impaired loans with no related allowance $ 12,039 $ 13,255 $ 65,192 $ 368 The following table details key information regarding our doubtful (previously referred to as impaired prior to the adoption of ASU 2016-13) loans by loan class at September 30, 2019, in accordance with ASC 310 prior to the adoption of ASU 2016-13: September 30, 2019 Quarter to Date Year to Date Average Average Recorded Interest Recorded Interest Investment Recognized Investment Recognized (Dollars in Thousands) Loans with Related Allowance Domestic Commercial $ 602 $ — $ 616 $ — Commercial real estate: other construction & land development 129 — 132 — Total impaired loans with related allowance $ 731 $ — $ 748 $ — September 30, 2019 Quarter to Date Year to Date Average Average Recorded Interest Recorded Interest Investment Recognized Investment Recognized (Dollars in Thousands) Loans with No Related Allowance Domestic Commercial $ 8,002 $ 1 $ 17,945 $ 2 Commercial real estate: other construction & land development 1,674 — 1,767 — Commercial real estate: farmland & commercial 3,222 — 22,389 — Commercial real estate: multifamily 653 — 656 — Residential: first lien 6,427 78 6,698 231 Residential: junior lien 914 10 1,028 32 Consumer 1,131 — 1,088 — Foreign 274 3 281 9 Total impaired loans with no related allowance $ 22,297 $ 92 $ 51,852 $ 274
Loans accounted for as trouble debt restructuring, by Watch List Doubtful loans	September 30, 2020 December 31, 2019 (Dollars in Thousands) Domestic Commercial $ — $ 32 Residential: first lien 4,149 5,608 Residential: junior lien 557 692 Consumer 888 1,192 Foreign 241 264 Total troubled debt restructuring $ 5,835 $ 7,788
Information regarding the aging of past due loans, by loan class	September 30, 2020 90 Days or Total 30 - 59 60 - 89 90 Days or greater & Past Total Days Days Greater still accruing Due Current Portfolio (Dollars in Thousands) Domestic Commercial $ 3,079 $ 238 $ 1,439 $ 971 $ 4,756 $ 1,873,223 $ 1,877,979 Commercial real estate: other construction & land development 2,242 16,603 142 142 18,987 1,924,443 1,943,430 Commercial real estate: farmland & commercial 1,702 259 — — 1,961 2,108,989 2,110,950 Commercial real estate: multifamily 22 137 — — 159 437,778 437,937 Residential: first lien 2,288 910 6,427 5,963 9,625 400,390 410,015 Residential: junior lien 564 722 945 945 2,231 621,400 623,631 Consumer 460 35 36 33 531 40,579 41,110 Foreign 461 250 205 205 916 143,267 144,183 Total past due loans $ 10,818 $ 19,154 $ 9,194 $ 8,259 $ 39,166 $ 7,550,069 $ 7,589,235 December 31, 2019 90 Days or Total 30 - 59 60 - 89 90 Days or greater & Past Total Days Days Greater still accruing Due Current Portfolio (Dollars in Thousands) Domestic Commercial $ 3,134 $ 626 $ 1,292 $ 421 $ 5,052 $ 1,287,608 $ 1,292,660 Commercial real estate: other construction & land development 509 55 — — 564 2,185,319 2,185,883 Commercial real estate: farmland & commercial 8,058 2,031 54,928 54,878 65,017 1,831,730 1,896,747 Commercial real estate: multifamily 313 — 165 — 478 189,952 190,430 Residential: first lien 3,229 1,670 3,660 3,107 8,559 425,342 433,901 Residential: junior lien 1,112 477 1,200 1,200 2,789 703,687 706,476 Consumer 467 75 88 88 630 47,170 47,800 Foreign 1,347 3 11 11 1,361 139,688 141,049 Total past due loans $ 18,169 $ 4,937 $ 61,344 $ 59,705 $ 84,450 $ 6,810,496 $ 6,894,946
Summary of the loan portfolio by credit quality indicator, by loan class	2020 2019 2018 2017 2016 Prior Total (Dollars in Thousands) Balance at September 30, 2020 Domestic Commercial Pass $ 1,092,774 $ 307,257 $ 171,592 $ 133,566 $ 19,838 $ 11,571 $ 1,736,598 Special Review 72,904 393 — — — — 73,297 Watch List - Pass 1,227 34,757 29,658 — — 22 65,664 Watch List - Substandard — — 653 — 323 — 976 Watch List - Doubtful 799 314 163 168 — — 1,444 Total Commercial $ 1,167,704 $ 342,721 $ 202,066 $ 133,734 $ 20,161 $ 11,593 $ 1,877,979 Commercial real estate: other construction & land development Pass $ 613,492 $ 665,095 $ 450,605 $ 132,837 $ 13,965 $ 7,602 $ 1,883,596 Special Review 12,625 — — — — — 12,625 Watch List - Pass 2,344 25,185 — — — — 27,529 Watch List - Substandard 18,769 — — — — — 18,769 Watch List - Doubtful 118 793 — — — — 911 Total Commercial real estate: other construction & land development $ 647,348 $ 691,073 $ 450,605 $ 132,837 $ 13,965 $ 7,602 $ 1,943,430 Commercial real estate: farmland & commercial Pass $ 561,310 $ 524,354 $ 333,348 $ 201,824 $ 200,296 $ 143,109 $ 1,964,241 Special Review 1,368 — 4,792 179 3,228 — 9,567 Watch List - Pass 25,467 8,885 20,482 8,879 7,448 1 71,162 Watch List - Substandard 3,315 55,728 168 2,293 478 3,497 65,479 Watch List - Doubtful — 221 — 38 — 242 501 Total Commercial real estate: farmland & commercial $ 591,460 $ 589,188 $ 358,790 $ 213,213 $ 211,450 $ 146,849 $ 2,110,950 Commercial real estate: multifamily Pass $ 49,110 $ 220,573 $ 83,584 $ 64,674 $ 8,392 $ 11,467 $ 437,800 Watch List - Doubtful 137 — — — — — 137 Total Commercial real estate: multifamily $ 49,247 $ 220,573 $ 83,584 $ 64,674 $ 8,392 $ 11,467 $ 437,937 Residential: first lien Pass $ 58,068 $ 65,854 $ 77,011 $ 58,475 $ 35,966 $ 114,140 $ 409,514 Watch List - Pass — 14 131 — — 1 146 Watch List - Substandard — — 62 — 50 — 112 Watch List - Doubtful 89 — — — 88 66 243 Total Residential: first lien $ 58,157 $ 65,868 $ 77,204 $ 58,475 $ 36,104 $ 114,207 $ 410,015 Residential: junior lien Pass $ 158,909 $ 123,056 $ 72,302 $ 88,890 $ 67,720 $ 111,075 $ 621,952 Special Review — 830 — 811 — — 1,641 Watch List- Doubtful — — 38 — — — 38 Total Residential: junior lien $ 158,909 $ 123,886 $ 72,340 $ 89,701 $ 67,720 $ 111,075 $ 623,631 Consumer Pass $ 25,683 $ 12,392 $ 1,360 $ 266 $ 95 $ 1,311 $ 41,107 Watch List - Doubtful — — — — — 3 3 Total Consumer $ 25,683 $ 12,392 $ 1,360 $ 266 $ 95 $ 1,314 $ 41,110 Foreign Pass $ 82,393 $ 32,680 $ 12,738 $ 6,786 $ 3,711 $ 5,875 $ 144,183 Total Foreign $ 82,393 $ 32,680 $ 12,738 $ 6,786 $ 3,711 $ 5,875 $ 144,183 Total Loans $ 2,780,901 $ 2,078,381 $ 1,258,687 $ 699,686 $ 361,598 $ 409,982 $ 7,589,235 December 31, 2019 Special Watch Watch List— Watch List— Pass Review List—Pass Substandard Impaired (Dollars in Thousands) Domestic Commercial $ 1,228,110 $ 569 $ 39 $ 62,007 $ 1,935 Commercial real estate: other construction & land development 2,090,370 18,721 41,949 33,905 938 Commercial real estate: farmland & commercial 1,710,446 13,184 20,183 151,726 1,208 Commercial real estate: multifamily 190,265 — — — 165 Residential: first lien 426,546 253 144 680 6,278 Residential: junior lien 704,958 826 — — 692 Consumer 46,605 — — — 1,195 Foreign 140,785 — — — 264 Total $ 6,538,085 $ 33,553 $ 62,315 $ 248,318 $ 12,675

Stock Options (Tables)

Stock Options (Tables)	9 Months Ended
Stock Options (Tables)	Sep. 30, 2020
Stock Options
Summary of option activity under stock option plans	Weighted Weighted average average remaining Aggregate Number of exercise contractual intrinsic options price term (years) value ($) (in Thousands) Options outstanding at December 31, 2019 658,588 $ 27.55 Plus: Options granted 35,000 18.79 Less: Options exercised 19,198 21.23 Options expired — — Options forfeited 10,701 31.28 Options outstanding at September 30, 2020 663,689 27.21 5.29 $ 3,928 Options fully vested and exercisable at September 30, 2020 414,632 $ 22.90 3.84 $ 3,416

Investment Securities and Equ_2

Investment Securities and Equity Securities with Readily Determinable Fair Values (Tables)	9 Months Ended
	Sep. 30, 2020
Investment Securities and Equity Securities with Readily Determinable Fair Values
Amortized cost and estimated fair value by type of investment security	The amortized cost and estimated fair value by type of investment security at September 30, 2020 are as follows: Held to Maturity Gross Gross Amortized unrealized unrealized Estimated Carrying cost gains losses fair value value (Dollars in Thousands) Other securities $ 3,400 $ — $ — $ 3,400 $ 3,400 Total investment securities $ 3,400 $ — $ — $ 3,400 $ 3,400 Available for Sale Debt Securities Gross Gross Amortized unrealized unrealized Estimated Carrying cost gains losses fair value value (1) (Dollars in Thousands) Residential mortgage-backed securities $ 3,196,279 $ 42,525 $ (4,069) $ 3,234,735 $ 3,234,735 Obligations of states and political subdivisions 61,322 2,797 (14) 64,105 64,105 Total investment securities $ 3,257,601 $ 45,322 $ (4,083) $ 3,298,840 $ 3,298,840 (1) Included in the carrying value of residential mortgage-backed securities are $438,961of mortgage-backed securities issued by Ginnie Mae and $2,795,774 of mortgage-backed securities issued by Fannie Mae and Freddie Mac. The amortized cost and estimated fair value by type of investment security at December 31, 2019 are as follows: Held to Maturity Gross Gross Amortized unrealized unrealized Estimated Carrying cost gains losses fair value value (Dollars in Thousands) Other securities $ 2,400 $ — $ — $ 2,400 $ 2,400 Total investment securities $ 2,400 $ — $ — $ 2,400 $ 2,400 Available for Sale Gross Gross Estimated Amortized unrealized unrealized fair Carrying cost gains losses value value (1) (Dollars in Thousands) Residential mortgage-backed securities $ 3,285,623 $ 16,534 $ (16,609) $ 3,285,548 $ 3,285,548 Obligations of states and political subdivisions 90,447 2,933 (5) 93,375 93,375 Total investment securities $ 3,376,070 $ 19,467 $ (16,614) $ 3,378,923 $ 3,378,923 (1) Included in the carrying value of residential mortgage-backed securities are $521,247 of mortgage-backed securities issued by Ginnie Mae and $2,714,301 of mortgage-backed securities issued by Fannie Mae and Freddie.
Amortized cost and fair value of investment securities, by contractual maturity	Held to Maturity Available for Sale Amortized Estimated Amortized Estimated Cost fair value Cost fair value (Dollars in Thousands) Due in one year or less $ 1,200 $ 1,200 $ — $ — Due after one year through five years 2,200 2,200 — — Due after five years through ten years — — 355 356 Due after ten years — — 60,967 63,749 Residential mortgage-backed securities — — 3,196,279 3,234,735 Total investment securities $ 3,400 $ 3,400 $ 3,257,601 $ 3,298,840
Gross unrealized losses on investment securities and the related fair value	Gross unrealized losses on debt investment securities and the fair value of the related securities, aggregated by investment category and length of time that individual debt securities have been in a continuous unrealized loss position at September 30, 2020, were as follows: Less than 12 months 12 months or more Total Unrealized Unrealized Unrealized Fair Value Losses Fair Value Losses Fair Value Losses (Dollars in Thousands) Available for sale: Residential mortgage-backed securities $ 1,194,001 $ (4,069) $ — $ — $ 1,194,001 $ (4,069) Obligations of states and political subdivisions — — 757 (14) 757 (14) $ 1,194,001 $ (4,069) $ 757 $ (14) $ 1,194,758 $ (4,083) Gross unrealized losses on investment securities and the fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2019 were as follows: Less than 12 months 12 months or more Total Unrealized Unrealized Unrealized Fair Value Losses Fair Value Losses Fair Value Losses (Dollars in Thousands) Available for sale: Residential mortgage-backed securities $ 523,031 $ (2,269) $ 1,448,109 $ (14,340) $ 1,971,140 $ (16,609) Obligations of states and political subdivisions 766 (5) — — 766 (5) $ 523,797 $ (2,274) $ 1,448,109 $ (14,340) $ 1,971,906 $ (16,614)
Summary of unrealized and realized gains and losses recognized in net income on equity securities	Three Months Ended September 30, 2020 (Dollars in Thousands) Net losses recognized during the period on equity securities $ (12) Less: Net gains and (losses) recognized during the period on equity securities sold during the period — Unrealized losses recognized during the reporting period on equity securities still held at the reporting date $ (12) Nine Months Ended September 30, 2020 (Dollars in Thousands) Net gains recognized during the period on equity securities $ 87 Less: Net gains and (losses) recognized during the period on equity securities sold during the period — Unrealized gains recognized during the reporting period on equity securities still held at the reporting date $ 87 Three Months Ended September 30, 2019 (Dollars in Thousands) Net gains recognized during the period on equity securities $ 45 Less: Net gains and (losses) recognized during the period on equity securities sold during the period — Unrealized gains recognized during the reporting period on equity securities still held at the reporting date $ 45 Nine Months Ended September 30, 2019 (Dollars in Thousands) Net gains recognized during the period on equity securities $ 235 Less: Net gains and (losses) recognized during the period on equity securities sold during the period — Unrealized gains recognized during the reporting period on equity securities still held at the reporting date $ 235

Junior Subordinated Interest _2

Junior Subordinated Interest Deferrable Debentures (Tables)	9 Months Ended
Junior Subordinated Interest Deferrable Debentures (Tables)	Sep. 30, 2020
Junior Subordinated Interest Deferrable Debentures
Junior subordinated interest deferrable debentures, major types of business trusts	Junior Subordinated Deferrable Interest Repricing Interest Interest Optional Debentures Frequency Rate Rate Index(1) Maturity Date Redemption Date (1) (Dollars in Thousands) Trust VIII $ 25,774 Quarterly 3.33 % LIBOR + 3.05 October 2033 October 2008 Trust IX 41,238 Quarterly 1.92 % LIBOR + 1.62 October 2036 October 2011 Trust X 21,021 Quarterly 1.90 % LIBOR + 1.65 February 2037 February 2012 Trust XI 25,990 Quarterly 1.92 % LIBOR + 1.62 July 2037 July 2012 Trust XII 20,619 Quarterly 1.69 % LIBOR + 1.45 September 2037 September 2012 $ 134,642 (1) The Capital and Common Securities may be redeemed in whole or in part on any interest payment date after the Optional Redemption Date.

Basis of Presentation (Details)

Basis of Presentation (Details) $ in Thousands	Jan. 01, 2020USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)subsidiarysegment	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)	Jan. 01, 2019USD ($)
Basis of presentation
Number of operating segments \| segment				1
Number of active operating bank subsidiaries \| subsidiary				5
Right-of-use asset amortization		$ 340	$ 267	$ 997	$ 726
Retained earnings		$ 2,241,397		$ 2,241,397		$ 2,200,568
ASU 2016-02 \| Adjusted Balance
Basis of presentation
Right-of-use asset							$ 6,400
Statement of Financial Position Location							us-gaap:OtherAssets
Lease liability							$ 6,400
Statement of Financial Position Location							us-gaap:OtherLiabilities
ASU 2016-13 \| Adjustment
Basis of presentation
Percentage of allowance for loan losses	17.20%
Retained earnings	$ 8,300

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value By Level) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Assets:
Available for sale debt securities	$ 3,298,840	$ 3,378,923
Equity Securities	6,182	6,095
Marketable Securities	3,308,422	3,387,418
Assets/liabilities measured at fair value \| Residential mortgage-backed securities
Assets:
Available for sale debt securities	3,234,735	3,285,548
Assets/liabilities measured at fair value \| Obligations of states and political subdivisions
Assets:
Available for sale debt securities	64,105	93,375
Measured on a recurring basis: \| Assets/liabilities measured at fair value
Assets:
Marketable Securities	3,305,022	3,385,018
Measured on a recurring basis: \| Assets/liabilities measured at fair value \| Residential mortgage-backed securities
Assets:
Available for sale debt securities	3,234,735	3,285,548
Measured on a recurring basis: \| Assets/liabilities measured at fair value \| Obligations of states and political subdivisions
Assets:
Available for sale debt securities	64,105	93,375
Measured on a recurring basis: \| Assets/liabilities measured at fair value \| Equity securities with readily determinable fair values
Assets:
Equity Securities	6,182	6,095
Measured on a recurring basis: \| Assets/liabilities measured at fair value \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Marketable Securities	6,182	6,095
Measured on a recurring basis: \| Assets/liabilities measured at fair value \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Equity securities with readily determinable fair values
Assets:
Equity Securities	6,182	6,095
Measured on a recurring basis: \| Assets/liabilities measured at fair value \| Significant Other Observable Inputs (Level 2)
Assets:
Marketable Securities	3,298,840	3,378,923
Measured on a recurring basis: \| Assets/liabilities measured at fair value \| Significant Other Observable Inputs (Level 2) \| Residential mortgage-backed securities
Assets:
Available for sale debt securities	3,234,735	3,285,548
Measured on a recurring basis: \| Assets/liabilities measured at fair value \| Significant Other Observable Inputs (Level 2) \| Obligations of states and political subdivisions
Assets:
Available for sale debt securities	$ 64,105	$ 93,375

Fair Value Measurements (Fair_2

Fair Value Measurements (Fair Value Measurement and Assumptions) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Dec. 31, 2019
Assets:
Impaired Loans	$ 1,814	$ 1,814	$ 2,955
Assumptions used in discounted cash flow model to determine fair value of investments classified within level 3
Impaired commercial collateral dependent receivables appraisals to determine fair value within immediately preceding twelve months	0	0	1,426
Impaired collateral dependent commercial loans with internal evaluation completed within last twelve months	1,300	1,300	847
Charges to allowance for probable loan losses in connection with other real estate owned	0	22	9,611
Adjustment to fair value in connection with other real estate owned	165	702	322
Measured on a non-recurring basis
Non-financial assets:
Equity investments without a readily determinable fair value			4,775
Assumptions used in discounted cash flow model to determine fair value of investments classified within level 3
Change in net provision, impaired loans			43
Change in net provision, other real estate owned	702	702	322
Measured on a non-recurring basis \| Significant Unobservable Inputs (Level 3)
Assets:
Impaired Loans			826
Non-financial assets:
Other real estate owned	1,594	1,594	21,614
Equity investments without a readily determinable fair value			28,166
Measured on a non-recurring basis \| Assets/liabilities measured at fair value
Assets:
Impaired Loans			826
Non-financial assets:
Other real estate owned	1,594	1,594	21,614
Equity investments without a readily determinable fair value			$ 28,166
Watch List - Doubtful \| Measured on a non-recurring basis
Assumptions used in discounted cash flow model to determine fair value of investments classified within level 3
Change in net provision, impaired loans	156	156
Watch List - Doubtful \| Measured on a non-recurring basis \| Significant Unobservable Inputs (Level 3)
Assets:
Impaired Loans	393	393
Watch List - Doubtful \| Measured on a non-recurring basis \| Assets/liabilities measured at fair value
Assets:
Impaired Loans	$ 393	$ 393

Fair Value Measurements (Other

Fair Value Measurements (Other Assumptions) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Deposits
Carrying amount of time deposits	$ 2,093,729	$ 2,012,300
Significant Unobservable Inputs (Level 3)
Loans
Carrying amount of fixed rate performing loans	1,887,310	1,503,811
Estimated fair value of fixed rate performing loans	1,820,865	1,481,239
Deposits
Carrying amount of time deposits	2,093,729	2,012,300
Estimated fair value of time deposits	2,088,830	2,011,950
Significant Other Observable Inputs (Level 2)
Other borrowed funds
Carrying amount of the long-term FHLB borrowings	436,373	436,511
Estimated fair value of long-term FHLB borrowings	$ 494,099	$ 465,017

Loans (Details)

Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Summary of loans, by loan type
Total loans	$ 7,589,235	$ 6,894,946
Commercial, financial and agricultural
Summary of loans, by loan type
Total loans	4,426,866	3,379,837
Real estate - mortgage
Summary of loans, by loan type
Total loans	1,033,646	1,140,377
Real estate - construction
Summary of loans, by loan type
Total loans	1,943,430	2,185,883
Consumer
Summary of loans, by loan type
Total loans	41,110	47,800
Foreign
Summary of loans, by loan type
Total loans	$ 144,183	$ 141,049

Allowance for Credit Losses (By

Allowance for Credit Losses (By Loan Class) (Details) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Allowance for probable loan losses
Balance at the beginning of the period	$ 94,554	$ 58,203		$ 61,384	$ 60,278	$ 61,384
Losses charged to allowance	(1,887)	(4,293)			(7,209)	(19,172)
Recoveries credited to allowance	728	672			2,154	2,285
Net (losses) recoveries charged to allowance	(1,159)	(3,621)			(5,055)	(16,887)
Provision charged (credited) to operations	8,770	5,278			36,595	15,363
Balance at the end of the period	102,165	59,860	$ 58,203		102,165	59,860
Watch - List Impaired
Allowance for probable loan losses
Losses charged to allowance				(9,500)
ASU 2016-13 \| Adjustment
Allowance for probable loan losses
Balance at the beginning of the period					10,347
Commercial Real Estate: farmland and commercial \| Watch - List Impaired
Allowance for probable loan losses
Losses charged to allowance			(9,500)
Commercial, financial and agricultural \| Commercial
Allowance for probable loan losses
Balance at the beginning of the period				12,596		12,596
Losses charged to allowance						(11,011)
Recoveries credited to allowance						1,631
Net (losses) recoveries charged to allowance						(9,380)
Provision charged (credited) to operations						7,755
Balance at the end of the period		10,971				10,971
Commercial, financial and agricultural \| Domestic \| Commercial
Allowance for probable loan losses
Balance at the beginning of the period	20,079	11,780			11,145
Losses charged to allowance	(1,735)	(3,231)			(6,696)
Recoveries credited to allowance	523	585			1,793
Net (losses) recoveries charged to allowance	(1,212)	(2,646)			(4,903)
Provision charged (credited) to operations	3,277	1,837			11,655
Balance at the end of the period	22,144	10,971	11,780		22,144	10,971
Commercial, financial and agricultural \| Domestic \| Commercial \| ASU 2016-13 \| Adjustment
Allowance for probable loan losses
Balance at the beginning of the period					4,247
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: farmland and commercial
Allowance for probable loan losses
Balance at the beginning of the period	18,711	17,029		19,353	16,533	19,353
Losses charged to allowance		(468)			(55)	(7,347)
Recoveries credited to allowance	86	10			107	308
Net (losses) recoveries charged to allowance	86	(458)			52	(7,039)
Provision charged (credited) to operations	4,892	230			11,396	4,487
Balance at the end of the period	23,689	16,801	17,029		23,689	16,801
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: farmland and commercial \| ASU 2016-13 \| Adjustment
Allowance for probable loan losses
Balance at the beginning of the period					(4,292)
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: multifamily
Allowance for probable loan losses
Balance at the beginning of the period	1,864	1,849		1,808	1,786	1,808
Provision charged (credited) to operations	2,639	350			3,072	391
Balance at the end of the period	4,503	2,199	1,849		4,503	2,199
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: multifamily \| ASU 2016-13 \| Adjustment
Allowance for probable loan losses
Balance at the beginning of the period					(355)
Real estate - construction \| Domestic \| Commercial Real Estate: other construction and land development
Allowance for probable loan losses
Balance at the beginning of the period	40,924	15,273		15,123	18,152	15,123
Losses charged to allowance					(19)
Recoveries credited to allowance	14	4			15	80
Net (losses) recoveries charged to allowance	14	4			(4)	80
Provision charged (credited) to operations	(2,855)	1,573			6,544	1,647
Balance at the end of the period	38,083	16,850	15,273		38,083	16,850
Real estate - construction \| Domestic \| Commercial Real Estate: other construction and land development \| ASU 2016-13 \| Adjustment
Allowance for probable loan losses
Balance at the beginning of the period					13,391
Real estate - mortgage \| Domestic \| Residential First Lien
Allowance for probable loan losses
Balance at the beginning of the period	3,208	3,627		3,467	3,762	3,467
Losses charged to allowance	(87)	(164)			(123)	(166)
Recoveries credited to allowance	8	3			10	14
Net (losses) recoveries charged to allowance	(79)	(161)			(113)	(152)
Provision charged (credited) to operations	400	263			1,460	414
Balance at the end of the period	3,529	3,729	3,627		3,529	3,729
Real estate - mortgage \| Domestic \| Residential First Lien \| ASU 2016-13 \| Adjustment
Allowance for probable loan losses
Balance at the beginning of the period					(1,580)
Real estate - mortgage \| Domestic \| Residential Junior Lien
Allowance for probable loan losses
Balance at the beginning of the period	8,964	7,312		7,719	7,535	7,719
Losses charged to allowance	(3)	(214)			(124)	(314)
Recoveries credited to allowance	51	65			171	222
Net (losses) recoveries charged to allowance	48	(149)			47	(92)
Provision charged (credited) to operations	293	852			2,152	388
Balance at the end of the period	9,305	8,015	7,312		9,305	8,015
Real estate - mortgage \| Domestic \| Residential Junior Lien \| ASU 2016-13 \| Adjustment
Allowance for probable loan losses
Balance at the beginning of the period					(429)
Consumer \| Domestic
Allowance for probable loan losses
Balance at the beginning of the period	288	488		447	542	447
Losses charged to allowance	(62)	(216)			(192)	(334)
Recoveries credited to allowance	46	5			58	30
Net (losses) recoveries charged to allowance	(16)	(211)			(134)	(304)
Provision charged (credited) to operations	2	199			91	333
Balance at the end of the period	274	476	488		274	476
Consumer \| Domestic \| ASU 2016-13 \| Adjustment
Allowance for probable loan losses
Balance at the beginning of the period					(225)
Foreign \| Foreign
Allowance for probable loan losses
Balance at the beginning of the period	516	845		$ 871	823	871
Provision charged (credited) to operations	122	(26)			225	(52)
Balance at the end of the period	$ 638	$ 819	$ 845		638	$ 819
Foreign \| Foreign \| ASU 2016-13 \| Adjustment
Allowance for probable loan losses
Balance at the beginning of the period					$ (410)

Allowance for Credit Losses (Im

Allowance for Credit Losses (Impairment By Loan Class) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Loan loss allowances, impaired financing receivable, evaluated individually or collectively
Loans Individually Evaluated for Impairment, Recorded Investment	$ 3,277	$ 12,675
Loans Individually Evaluated for Impairment, Allowance	481	365
Loans Collectively Evaluated for Impairment, Recorded Investment	7,585,958	6,882,271
Loans Collectively Evaluated for Impairment, Allowance	101,684	59,913
Commercial, financial and agricultural \| Domestic \| Commercial
Loan loss allowances, impaired financing receivable, evaluated individually or collectively
Loans Individually Evaluated for Impairment, Recorded Investment	1,444	1,935
Loans Individually Evaluated for Impairment, Allowance	411	249
Loans Collectively Evaluated for Impairment, Recorded Investment	1,876,535	1,290,725
Loans Collectively Evaluated for Impairment, Allowance	21,733	10,895
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: farmland and commercial
Loan loss allowances, impaired financing receivable, evaluated individually or collectively
Loans Individually Evaluated for Impairment, Recorded Investment	501	1,208
Loans Collectively Evaluated for Impairment, Recorded Investment	2,110,448	1,895,539
Loans Collectively Evaluated for Impairment, Allowance	23,689	16,533
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: multifamily
Loan loss allowances, impaired financing receivable, evaluated individually or collectively
Loans Individually Evaluated for Impairment, Recorded Investment	137	165
Loans Collectively Evaluated for Impairment, Recorded Investment	437,801	190,265
Loans Collectively Evaluated for Impairment, Allowance	4,503	1,786
Real estate - construction \| Domestic \| Commercial Real Estate: other construction and land development
Loan loss allowances, impaired financing receivable, evaluated individually or collectively
Loans Individually Evaluated for Impairment, Recorded Investment	911	938
Loans Individually Evaluated for Impairment, Allowance	70	116
Loans Collectively Evaluated for Impairment, Recorded Investment	1,942,519	2,184,945
Loans Collectively Evaluated for Impairment, Allowance	38,013	18,037
Real estate - mortgage \| Domestic \| Residential First Lien
Loan loss allowances, impaired financing receivable, evaluated individually or collectively
Loans Individually Evaluated for Impairment, Recorded Investment	243	6,278
Loans Collectively Evaluated for Impairment, Recorded Investment	409,772	427,623
Loans Collectively Evaluated for Impairment, Allowance	3,529	3,762
Real estate - mortgage \| Domestic \| Residential Junior Lien
Loan loss allowances, impaired financing receivable, evaluated individually or collectively
Loans Individually Evaluated for Impairment, Recorded Investment	38	692
Loans Collectively Evaluated for Impairment, Recorded Investment	623,593	705,784
Loans Collectively Evaluated for Impairment, Allowance	9,305	7,535
Consumer \| Domestic
Loan loss allowances, impaired financing receivable, evaluated individually or collectively
Loans Individually Evaluated for Impairment, Recorded Investment	3	1,195
Loans Collectively Evaluated for Impairment, Recorded Investment	41,107	46,605
Loans Collectively Evaluated for Impairment, Allowance	274	542
Foreign \| Foreign
Loan loss allowances, impaired financing receivable, evaluated individually or collectively
Loans Individually Evaluated for Impairment, Recorded Investment		264
Loans Collectively Evaluated for Impairment, Recorded Investment	144,183	140,785
Loans Collectively Evaluated for Impairment, Allowance	$ 638	$ 823

Allowance for Credit Losses (No

Allowance for Credit Losses (Non-accrual Basis By Loan Class) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Loan loss allowances, financing receivable past due
Non-accrual loans, total	$ 3,761	$ 4,886
Commercial, financial and agricultural \| Domestic \| Commercial
Loan loss allowances, financing receivable past due
Non-accrual loans, total	1,444	1,901
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: farmland and commercial
Loan loss allowances, financing receivable past due
Non-accrual loans, total	501	1,208
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: multifamily
Loan loss allowances, financing receivable past due
Non-accrual loans, total	137	165
Real estate - construction \| Domestic \| Commercial Real Estate: other construction and land development
Loan loss allowances, financing receivable past due
Non-accrual loans, total	911	938
Real estate - mortgage \| Domestic \| Residential First Lien
Loan loss allowances, financing receivable past due
Non-accrual loans, total	727	670
Real estate - mortgage \| Domestic \| Residential Junior Lien
Loan loss allowances, financing receivable past due
Non-accrual loans, total	38
Consumer \| Domestic
Loan loss allowances, financing receivable past due
Non-accrual loans, total	$ 3	$ 4

Allowance for Credit Losses (_2

Allowance for Credit Losses (Impaired Loans) (Details) - USD ($)	3 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Nov. 03, 2020
Recorded investment:
Total impaired loans with related allowance				$ 636,000
Total impaired loans with no related allowance				12,039,000
Unpaid principal balance:
Total impaired loans with an allowance recorded				685,000
Total impaired loans with no related allowance recorded				13,255,000
Related Allowance				365,000
Average recorded investment:
Total impaired loans with an allowance recorded	$ 731,000		$ 748,000	645,000
Total impaired loans with no related allowance recorded	22,297,000		51,852,000	65,192,000
Interest Recognized
Total impaired loans with no related allowance recorded	92,000		274,000	368,000
Total trouble debt restructuring		$ 5,835,000		7,788,000
Loans		$ 7,589,235,000		6,894,946,000
Period of charge off for past due unsecured commercial loans		90 days
Subsequent Event
Interest Recognized
Amount of loans with some degree of payment deferral					$ 1,799,000,000
Percentage of loan payments on deferral period					83.00%
Percentage of loan sort of deferral program for relief					17.00%
Paycheck protection program loans
Interest Recognized
Period of time PPP loans cover payroll and certain other costs		168 days
Interest rate on receivable		1.00%
Paycheck protection program loans \| Subsequent Event
Interest Recognized
Number of loans approved and closed					4,944
Amount of loans approved and closed					$ 455,347,000
Paycheck protection program loans \| Loans made prior to June 5, 2020
Interest Recognized
Term of receivable (in years)		2 years
Paycheck protection program loans \| Loans made after June 5, 2020
Interest Recognized
Term of receivable (in years)		5 years
Commercial, financial and agricultural
Interest Recognized
Loans		$ 4,426,866,000		3,379,837,000
Commercial, financial and agricultural \| Domestic \| Commercial
Recorded investment:
Total impaired loans with related allowance				510,000
Total impaired loans with no related allowance				1,425,000
Unpaid principal balance:
Total impaired loans with an allowance recorded				516,000
Total impaired loans with no related allowance recorded				1,516,000
Related Allowance				249,000
Average recorded investment:
Total impaired loans with an allowance recorded	602,000		616,000	514,000
Total impaired loans with no related allowance recorded	8,002,000		17,945,000	16,194,000
Interest Recognized
Total impaired loans with no related allowance recorded	1,000		2,000	3,000
Total trouble debt restructuring				32,000
Loans		1,877,979,000		1,292,660,000
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: farmland and commercial
Recorded investment:
Total impaired loans with no related allowance				1,208,000
Unpaid principal balance:
Total impaired loans with no related allowance recorded				1,841,000
Average recorded investment:
Total impaired loans with no related allowance recorded	3,222,000		22,389,000	36,632,000
Interest Recognized
Loans		2,110,950,000		1,896,747,000
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: multifamily
Recorded investment:
Total impaired loans with no related allowance				165,000
Unpaid principal balance:
Total impaired loans with no related allowance recorded				168,000
Average recorded investment:
Total impaired loans with no related allowance recorded	653,000		656,000	565,000
Interest Recognized
Loans		437,937,000		190,430,000
Real estate - construction
Interest Recognized
Loans		1,943,430,000		2,185,883,000
Real estate - construction \| Domestic \| Commercial Real Estate: other construction and land development
Recorded investment:
Total impaired loans with related allowance				126,000
Total impaired loans with no related allowance				812,000
Unpaid principal balance:
Total impaired loans with an allowance recorded				169,000
Total impaired loans with no related allowance recorded				1,133,000
Related Allowance				116,000
Average recorded investment:
Total impaired loans with an allowance recorded	129,000		132,000	131,000
Total impaired loans with no related allowance recorded	1,674,000		1,767,000	2,151,000
Interest Recognized
Loans		1,943,430,000		2,185,883,000
Real estate - mortgage
Interest Recognized
Loans		1,033,646,000		1,140,377,000
Real estate - mortgage \| Domestic \| Residential First Lien
Recorded investment:
Total impaired loans with no related allowance				6,278,000
Unpaid principal balance:
Total impaired loans with no related allowance recorded				6,445,000
Average recorded investment:
Total impaired loans with no related allowance recorded	6,427,000		6,698,000	7,136,000
Interest Recognized
Total impaired loans with no related allowance recorded	78,000		231,000	305,000
Total trouble debt restructuring		4,149,000		5,608,000
Loans		410,015,000		433,901,000
Real estate - mortgage \| Domestic \| Residential Junior Lien
Recorded investment:
Total impaired loans with no related allowance				692,000
Unpaid principal balance:
Total impaired loans with no related allowance recorded				692,000
Average recorded investment:
Total impaired loans with no related allowance recorded	914,000		1,028,000	976,000
Interest Recognized
Total impaired loans with no related allowance recorded	10,000		32,000	44,000
Total trouble debt restructuring		557,000		692,000
Loans		623,631,000		706,476,000
Consumer
Interest Recognized
Loans		41,110,000		47,800,000
Consumer \| Domestic
Recorded investment:
Total impaired loans with no related allowance				1,195,000
Unpaid principal balance:
Total impaired loans with no related allowance recorded				1,196,000
Average recorded investment:
Total impaired loans with no related allowance recorded	1,131,000		1,088,000	1,211,000
Interest Recognized
Total impaired loans with no related allowance recorded				2,000
Total trouble debt restructuring		888,000		1,192,000
Loans		41,110,000		47,800,000
Foreign
Interest Recognized
Loans		144,183,000		141,049,000
Foreign \| Foreign
Recorded investment:
Total impaired loans with no related allowance				264,000
Unpaid principal balance:
Total impaired loans with no related allowance recorded				264,000
Average recorded investment:
Total impaired loans with no related allowance recorded	274,000		281,000	327,000
Interest Recognized
Total impaired loans with no related allowance recorded	$ 3,000		$ 9,000	14,000
Total trouble debt restructuring		241,000		264,000
Loans		$ 144,183,000		$ 141,049,000

Allowance for Credit Losses (Ag

Allowance for Credit Losses (Aging By Loan Class) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Financing receivable recorded investment
Past due 90 days or Greater and Still Accruing	$ 8,259	$ 59,705
Past due	39,166	84,450
Loans, current	7,550,069	6,810,496
Total loans	7,589,235	6,894,946
30 to 59 Days
Financing receivable recorded investment
Past due	10,818	18,169
60 to 89 Days
Financing receivable recorded investment
Past due	19,154	4,937
90 Days or Greater
Financing receivable recorded investment
Past due	9,194	61,344
Commercial, financial and agricultural
Financing receivable recorded investment
Total loans	4,426,866	3,379,837
Commercial, financial and agricultural \| Domestic \| Commercial
Financing receivable recorded investment
Past due 90 days or Greater and Still Accruing	971	421
Past due	4,756	5,052
Loans, current	1,873,223	1,287,608
Total loans	1,877,979	1,292,660
Commercial, financial and agricultural \| Domestic \| Commercial \| 30 to 59 Days
Financing receivable recorded investment
Past due	3,079	3,134
Commercial, financial and agricultural \| Domestic \| Commercial \| 60 to 89 Days
Financing receivable recorded investment
Past due	238	626
Commercial, financial and agricultural \| Domestic \| Commercial \| 90 Days or Greater
Financing receivable recorded investment
Past due	1,439	1,292
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: farmland and commercial
Financing receivable recorded investment
Past due 90 days or Greater and Still Accruing		54,878
Past due	1,961	65,017
Loans, current	2,108,989	1,831,730
Total loans	2,110,950	1,896,747
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: farmland and commercial \| 30 to 59 Days
Financing receivable recorded investment
Past due	1,702	8,058
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: farmland and commercial \| 60 to 89 Days
Financing receivable recorded investment
Past due	259	2,031
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: farmland and commercial \| 90 Days or Greater
Financing receivable recorded investment
Past due		54,928
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: multifamily
Financing receivable recorded investment
Past due	159	478
Loans, current	437,778	189,952
Total loans	437,937	190,430
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: multifamily \| 30 to 59 Days
Financing receivable recorded investment
Past due	22	313
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: multifamily \| 60 to 89 Days
Financing receivable recorded investment
Past due	137
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: multifamily \| 90 Days or Greater
Financing receivable recorded investment
Past due		165
Real estate - construction
Financing receivable recorded investment
Total loans	1,943,430	2,185,883
Real estate - construction \| Domestic \| Commercial Real Estate: other construction and land development
Financing receivable recorded investment
Past due 90 days or Greater and Still Accruing	142
Past due	18,987	564
Loans, current	1,924,443	2,185,319
Total loans	1,943,430	2,185,883
Real estate - construction \| Domestic \| Commercial Real Estate: other construction and land development \| 30 to 59 Days
Financing receivable recorded investment
Past due	2,242	509
Real estate - construction \| Domestic \| Commercial Real Estate: other construction and land development \| 60 to 89 Days
Financing receivable recorded investment
Past due	16,603	55
Real estate - construction \| Domestic \| Commercial Real Estate: other construction and land development \| 90 Days or Greater
Financing receivable recorded investment
Past due	142
Real estate - mortgage
Financing receivable recorded investment
Total loans	1,033,646	1,140,377
Real estate - mortgage \| Domestic \| Residential First Lien
Financing receivable recorded investment
Past due 90 days or Greater and Still Accruing	5,963	3,107
Past due	9,625	8,559
Loans, current	400,390	425,342
Total loans	410,015	433,901
Real estate - mortgage \| Domestic \| Residential First Lien \| 30 to 59 Days
Financing receivable recorded investment
Past due	2,288	3,229
Real estate - mortgage \| Domestic \| Residential First Lien \| 60 to 89 Days
Financing receivable recorded investment
Past due	910	1,670
Real estate - mortgage \| Domestic \| Residential First Lien \| 90 Days or Greater
Financing receivable recorded investment
Past due	6,427	3,660
Real estate - mortgage \| Domestic \| Residential Junior Lien
Financing receivable recorded investment
Past due 90 days or Greater and Still Accruing	945	1,200
Past due	2,231	2,789
Loans, current	621,400	703,687
Total loans	623,631	706,476
Real estate - mortgage \| Domestic \| Residential Junior Lien \| 30 to 59 Days
Financing receivable recorded investment
Past due	564	1,112
Real estate - mortgage \| Domestic \| Residential Junior Lien \| 60 to 89 Days
Financing receivable recorded investment
Past due	722	477
Real estate - mortgage \| Domestic \| Residential Junior Lien \| 90 Days or Greater
Financing receivable recorded investment
Past due	945	1,200
Consumer
Financing receivable recorded investment
Total loans	41,110	47,800
Consumer \| Domestic
Financing receivable recorded investment
Past due 90 days or Greater and Still Accruing	33	88
Past due	531	630
Loans, current	40,579	47,170
Total loans	41,110	47,800
Consumer \| Domestic \| 30 to 59 Days
Financing receivable recorded investment
Past due	460	467
Consumer \| Domestic \| 60 to 89 Days
Financing receivable recorded investment
Past due	35	75
Consumer \| Domestic \| 90 Days or Greater
Financing receivable recorded investment
Past due	36	88
Foreign
Financing receivable recorded investment
Total loans	144,183	141,049
Foreign \| Foreign
Financing receivable recorded investment
Past due 90 days or Greater and Still Accruing	205	11
Past due	916	1,361
Loans, current	143,267	139,688
Total loans	144,183	141,049
Foreign \| Foreign \| 30 to 59 Days
Financing receivable recorded investment
Past due	461	1,347
Foreign \| Foreign \| 60 to 89 Days
Financing receivable recorded investment
Past due	250	3
Foreign \| Foreign \| 90 Days or Greater
Financing receivable recorded investment
Past due	$ 205	$ 11

Allowance for Credit Losses (Po

Allowance for Credit Losses (Portfolio Credit Quality) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Loan portfolio by credit quality indicator
2020	$ 2,780,901
2019	2,078,381
2018	1,258,687
2017	699,686
2016	361,598
Prior	409,982
Total loans	7,589,235	$ 6,894,946
Pass
Loan portfolio by credit quality indicator
Total loans		6,538,085
Special Review
Loan portfolio by credit quality indicator
Total loans		33,553
Watch List - Pass
Loan portfolio by credit quality indicator
Total loans		62,315
Watch List - Substandard
Loan portfolio by credit quality indicator
Total loans		248,318
Commercial, financial and agricultural
Loan portfolio by credit quality indicator
Total loans	4,426,866	3,379,837
Commercial, financial and agricultural \| Domestic \| Commercial
Loan portfolio by credit quality indicator
2020	1,167,704
2019	342,721
2018	202,066
2017	133,734
2016	20,161
Prior	11,593
Total loans	1,877,979	1,292,660
Commercial, financial and agricultural \| Domestic \| Commercial \| Pass
Loan portfolio by credit quality indicator
2020	1,092,774
2019	307,257
2018	171,592
2017	133,566
2016	19,838
Prior	11,571
Total loans	1,736,598	1,228,110
Commercial, financial and agricultural \| Domestic \| Commercial \| Special Review
Loan portfolio by credit quality indicator
2020	72,904
2019	393
Total loans	73,297	569
Commercial, financial and agricultural \| Domestic \| Commercial \| Watch List - Pass
Loan portfolio by credit quality indicator
2020	1,227
2019	34,757
2018	29,658
Prior	22
Total loans	65,664	39
Commercial, financial and agricultural \| Domestic \| Commercial \| Watch List - Substandard
Loan portfolio by credit quality indicator
2018	653
2016	323
Total loans	976	62,007
Commercial, financial and agricultural \| Domestic \| Commercial \| Watch List - Doubtful
Loan portfolio by credit quality indicator
2020	799
2019	314
2018	163
2017	168
Total loans	1,444
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: farmland and commercial
Loan portfolio by credit quality indicator
2020	591,460
2019	589,188
2018	358,790
2017	213,213
2016	211,450
Prior	146,849
Total loans	2,110,950	1,896,747
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: farmland and commercial \| Pass
Loan portfolio by credit quality indicator
2020	561,310
2019	524,354
2018	333,348
2017	201,824
2016	200,296
Prior	143,109
Total loans	1,964,241	1,710,446
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: farmland and commercial \| Special Review
Loan portfolio by credit quality indicator
2020	1,368
2018	4,792
2017	179
2016	3,228
Total loans	9,567	13,184
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: farmland and commercial \| Watch List - Pass
Loan portfolio by credit quality indicator
2020	25,467
2019	8,885
2018	20,482
2017	8,879
2016	7,448
Prior	1
Total loans	71,162	20,183
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: farmland and commercial \| Watch List - Substandard
Loan portfolio by credit quality indicator
2020	3,315
2019	55,728
2018	168
2017	2,293
2016	478
Prior	3,497
Total loans	65,479	151,726
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: farmland and commercial \| Watch List - Doubtful
Loan portfolio by credit quality indicator
2019	221
2017	38
Prior	242
Total loans	501
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: multifamily
Loan portfolio by credit quality indicator
2020	49,247
2019	220,573
2018	83,584
2017	64,674
2016	8,392
Prior	11,467
Total loans	437,937	190,430
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: multifamily \| Pass
Loan portfolio by credit quality indicator
2020	49,110
2019	220,573
2018	83,584
2017	64,674
2016	8,392
Prior	11,467
Total loans	437,800	190,265
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: multifamily \| Watch List - Doubtful
Loan portfolio by credit quality indicator
2020	137
Total loans	137
Real estate - construction
Loan portfolio by credit quality indicator
Total loans	1,943,430	2,185,883
Real estate - construction \| Domestic \| Commercial Real Estate: other construction and land development
Loan portfolio by credit quality indicator
2020	647,348
2019	691,073
2018	450,605
2017	132,837
2016	13,965
Prior	7,602
Total loans	1,943,430	2,185,883
Real estate - construction \| Domestic \| Commercial Real Estate: other construction and land development \| Pass
Loan portfolio by credit quality indicator
2020	613,492
2019	665,095
2018	450,605
2017	132,837
2016	13,965
Prior	7,602
Total loans	1,883,596	2,090,370
Real estate - construction \| Domestic \| Commercial Real Estate: other construction and land development \| Special Review
Loan portfolio by credit quality indicator
2020	12,625
Total loans	12,625	18,721
Real estate - construction \| Domestic \| Commercial Real Estate: other construction and land development \| Watch List - Pass
Loan portfolio by credit quality indicator
2020	2,344
2019	25,185
Total loans	27,529	41,949
Real estate - construction \| Domestic \| Commercial Real Estate: other construction and land development \| Watch List - Substandard
Loan portfolio by credit quality indicator
2020	18,769
Total loans	18,769	33,905
Real estate - construction \| Domestic \| Commercial Real Estate: other construction and land development \| Watch List - Doubtful
Loan portfolio by credit quality indicator
2020	118
2019	793
Total loans	911
Real estate - mortgage
Loan portfolio by credit quality indicator
Total loans	1,033,646	1,140,377
Real estate - mortgage \| Domestic \| Residential First Lien
Loan portfolio by credit quality indicator
2020	58,157
2019	65,868
2018	77,204
2017	58,475
2016	36,104
Prior	114,207
Total loans	410,015	433,901
Real estate - mortgage \| Domestic \| Residential First Lien \| Pass
Loan portfolio by credit quality indicator
2020	58,068
2019	65,854
2018	77,011
2017	58,475
2016	35,966
Prior	114,140
Total loans	409,514	426,546
Real estate - mortgage \| Domestic \| Residential First Lien \| Special Review
Loan portfolio by credit quality indicator
Total loans		253
Real estate - mortgage \| Domestic \| Residential First Lien \| Watch List - Pass
Loan portfolio by credit quality indicator
2019	14
2018	131
Prior	1
Total loans	146	144
Real estate - mortgage \| Domestic \| Residential First Lien \| Watch List - Substandard
Loan portfolio by credit quality indicator
2018	62
2016	50
Total loans	112	680
Real estate - mortgage \| Domestic \| Residential First Lien \| Watch List - Doubtful
Loan portfolio by credit quality indicator
2020	89
2016	88
Prior	66
Total loans	243
Real estate - mortgage \| Domestic \| Residential Junior Lien
Loan portfolio by credit quality indicator
2020	158,909
2019	123,886
2018	72,340
2017	89,701
2016	67,720
Prior	111,075
Total loans	623,631	706,476
Real estate - mortgage \| Domestic \| Residential Junior Lien \| Pass
Loan portfolio by credit quality indicator
2020	158,909
2019	123,056
2018	72,302
2017	88,890
2016	67,720
Prior	111,075
Total loans	621,952	704,958
Real estate - mortgage \| Domestic \| Residential Junior Lien \| Special Review
Loan portfolio by credit quality indicator
2019	830
2017	811
Total loans	1,641	826
Real estate - mortgage \| Domestic \| Residential Junior Lien \| Watch List - Doubtful
Loan portfolio by credit quality indicator
2018	38
Total loans	38
Consumer
Loan portfolio by credit quality indicator
Total loans	41,110	47,800
Consumer \| Domestic
Loan portfolio by credit quality indicator
2020	25,683
2019	12,392
2018	1,360
2017	266
2016	95
Prior	1,314
Total loans	41,110	47,800
Consumer \| Domestic \| Pass
Loan portfolio by credit quality indicator
2020	25,683
2019	12,392
2018	1,360
2017	266
2016	95
Prior	1,311
Total loans	41,107	46,605
Consumer \| Domestic \| Watch List - Doubtful
Loan portfolio by credit quality indicator
Prior	3
Total loans	3
Foreign
Loan portfolio by credit quality indicator
Total loans	144,183	141,049
Foreign \| Foreign
Loan portfolio by credit quality indicator
2020	82,393
2019	32,680
2018	12,738
2017	6,786
2016	3,711
Prior	5,875
Total loans	144,183	141,049
Foreign \| Foreign \| Pass
Loan portfolio by credit quality indicator
2020	82,393
2019	32,680
2018	12,738
2017	6,786
2016	3,711
Prior	5,875
Total loans	$ 144,183	$ 140,785

Allowance for Credit Losses (_3

Allowance for Credit Losses (Portfolio Credit Quality By Loan Class) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Loan portfolio by credit quality indicator
Portfolio, total	$ 7,589,235	$ 6,894,946
Pass
Loan portfolio by credit quality indicator
Portfolio, total		6,538,085
Special Review
Loan portfolio by credit quality indicator
Portfolio, total		33,553
Watch List - Pass
Loan portfolio by credit quality indicator
Portfolio, total		62,315
Watch List - Substandard
Loan portfolio by credit quality indicator
Portfolio, total		248,318
Watch - List Impaired
Loan portfolio by credit quality indicator
Portfolio, total		12,675
Commercial, financial and agricultural
Loan portfolio by credit quality indicator
Portfolio, total	4,426,866	3,379,837
Commercial, financial and agricultural \| Domestic \| Commercial
Loan portfolio by credit quality indicator
Portfolio, total	1,877,979	1,292,660
Commercial, financial and agricultural \| Domestic \| Commercial \| Pass
Loan portfolio by credit quality indicator
Portfolio, total	1,736,598	1,228,110
Commercial, financial and agricultural \| Domestic \| Commercial \| Special Review
Loan portfolio by credit quality indicator
Portfolio, total	73,297	569
Commercial, financial and agricultural \| Domestic \| Commercial \| Watch List - Pass
Loan portfolio by credit quality indicator
Portfolio, total	65,664	39
Commercial, financial and agricultural \| Domestic \| Commercial \| Watch List - Substandard
Loan portfolio by credit quality indicator
Portfolio, total	976	62,007
Commercial, financial and agricultural \| Domestic \| Commercial \| Watch - List Impaired
Loan portfolio by credit quality indicator
Portfolio, total		1,935
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: farmland and commercial
Loan portfolio by credit quality indicator
Portfolio, total	2,110,950	1,896,747
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: farmland and commercial \| Pass
Loan portfolio by credit quality indicator
Portfolio, total	1,964,241	1,710,446
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: farmland and commercial \| Special Review
Loan portfolio by credit quality indicator
Portfolio, total	9,567	13,184
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: farmland and commercial \| Watch List - Pass
Loan portfolio by credit quality indicator
Portfolio, total	71,162	20,183
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: farmland and commercial \| Watch List - Substandard
Loan portfolio by credit quality indicator
Portfolio, total	65,479	151,726
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: farmland and commercial \| Watch - List Impaired
Loan portfolio by credit quality indicator
Portfolio, total		1,208
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: multifamily
Loan portfolio by credit quality indicator
Portfolio, total	437,937	190,430
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: multifamily \| Pass
Loan portfolio by credit quality indicator
Portfolio, total	437,800	190,265
Commercial, financial and agricultural \| Domestic \| Commercial Real Estate: multifamily \| Watch - List Impaired
Loan portfolio by credit quality indicator
Portfolio, total		165
Real estate - construction
Loan portfolio by credit quality indicator
Portfolio, total	1,943,430	2,185,883
Real estate - construction \| Domestic \| Commercial Real Estate: other construction and land development
Loan portfolio by credit quality indicator
Portfolio, total	1,943,430	2,185,883
Real estate - construction \| Domestic \| Commercial Real Estate: other construction and land development \| Pass
Loan portfolio by credit quality indicator
Portfolio, total	1,883,596	2,090,370
Real estate - construction \| Domestic \| Commercial Real Estate: other construction and land development \| Special Review
Loan portfolio by credit quality indicator
Portfolio, total	12,625	18,721
Real estate - construction \| Domestic \| Commercial Real Estate: other construction and land development \| Watch List - Pass
Loan portfolio by credit quality indicator
Portfolio, total	27,529	41,949
Real estate - construction \| Domestic \| Commercial Real Estate: other construction and land development \| Watch List - Substandard
Loan portfolio by credit quality indicator
Portfolio, total	18,769	33,905
Real estate - construction \| Domestic \| Commercial Real Estate: other construction and land development \| Watch - List Impaired
Loan portfolio by credit quality indicator
Portfolio, total		938
Real estate - mortgage
Loan portfolio by credit quality indicator
Portfolio, total	1,033,646	1,140,377
Real estate - mortgage \| Domestic \| Residential First Lien
Loan portfolio by credit quality indicator
Portfolio, total	410,015	433,901
Real estate - mortgage \| Domestic \| Residential First Lien \| Pass
Loan portfolio by credit quality indicator
Portfolio, total	409,514	426,546
Real estate - mortgage \| Domestic \| Residential First Lien \| Special Review
Loan portfolio by credit quality indicator
Portfolio, total		253
Real estate - mortgage \| Domestic \| Residential First Lien \| Watch List - Pass
Loan portfolio by credit quality indicator
Portfolio, total	146	144
Real estate - mortgage \| Domestic \| Residential First Lien \| Watch List - Substandard
Loan portfolio by credit quality indicator
Portfolio, total	112	680
Real estate - mortgage \| Domestic \| Residential First Lien \| Watch - List Impaired
Loan portfolio by credit quality indicator
Portfolio, total		6,278
Real estate - mortgage \| Domestic \| Residential Junior Lien
Loan portfolio by credit quality indicator
Portfolio, total	623,631	706,476
Real estate - mortgage \| Domestic \| Residential Junior Lien \| Pass
Loan portfolio by credit quality indicator
Portfolio, total	621,952	704,958
Real estate - mortgage \| Domestic \| Residential Junior Lien \| Special Review
Loan portfolio by credit quality indicator
Portfolio, total	1,641	826
Real estate - mortgage \| Domestic \| Residential Junior Lien \| Watch - List Impaired
Loan portfolio by credit quality indicator
Portfolio, total		692
Consumer
Loan portfolio by credit quality indicator
Portfolio, total	41,110	47,800
Consumer \| Domestic
Loan portfolio by credit quality indicator
Portfolio, total	41,110	47,800
Consumer \| Domestic \| Pass
Loan portfolio by credit quality indicator
Portfolio, total	41,107	46,605
Consumer \| Domestic \| Watch - List Impaired
Loan portfolio by credit quality indicator
Portfolio, total		1,195
Foreign
Loan portfolio by credit quality indicator
Portfolio, total	144,183	141,049
Foreign \| Foreign
Loan portfolio by credit quality indicator
Portfolio, total	144,183	141,049
Foreign \| Foreign \| Pass
Loan portfolio by credit quality indicator
Portfolio, total	$ 144,183	140,785
Foreign \| Foreign \| Watch - List Impaired
Loan portfolio by credit quality indicator
Portfolio, total		$ 264

Stock Options (Details)

Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Apr. 05, 2012
Stock options under 2012 Plan
Stock option details
Shares available for future grants	4,352		4,352		800,000
Maximum exercisable period for options granted			10 years
Number of options granted (in shares)			35,000
Stock option activity
Options outstanding at the beginning of the period (in shares)			658,588
Plus: Options granted (in shares)			35,000
Less:
Options exercised (in shares)			19,198
Options forfeited (in shares)			10,701
Options outstanding at the end of the period (in shares)	663,689		663,689
Options fully vested and exercisable at the end of the period (in shares)	414,632		414,632
Stock Options, Weighted average exercise price
Options outstanding at the beginning, weighted average exercise price (in dollars per share)			$ 27.55
Plus: Options granted, weighted average exercise price (in dollars per share)			18.79
Less:
Options exercised, weighted average exercise price (in dollars per share)			21.23
Options forfeited, weighted average exercise price (in dollars per share)			31.28
Options outstanding at the end, weighted average exercise price (in dollars per share)	$ 27.21		27.21
Options fully vested and exercisable at the end, weighted average exercise price (in dollars per share)	$ 22.90		$ 22.90
Stock Options, Weighted average remaining contractual term (years)
Options outstanding at the end, weighted average remaining contractual term (years)			5 years 3 months 14 days
Options fully vested and exercisable at the end, weighted average remaining contractual term (years)			3 years 10 months 2 days
Stock Options, Aggregate intrinsic value
Options outstanding at the end, aggregate intrinsic value	$ 3,928		$ 3,928
Options fully vested and exercisable at the end, aggregate intrinsic value	3,416		3,416
Stock-based compensation expense	176	$ 240	571	$ 744
Stock-based compensation cost, unrecognized, related to non-vested options	$ 1,401		$ 1,401
Stock-based compensation cost, unrecognized, related to non-vested options, weighted-average period of recognition			1 year 8 months 12 days
Incentive stock options granted to 10% shareholders
Stock option details
Maximum exercisable period for options granted			5 years

Investment Securities and Equ_3

Investment Securities and Equity Securities with Readily Determinable Fair Values (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Held-to-maturity securities
Amortized cost	$ 3,400	$ 2,400
Estimated fair value	3,400	2,400
Carrying Value	3,400	2,400
Available-for-sale securities
Amortized cost	3,257,601	3,376,070
Available for sale debt securities	3,298,840	3,378,923
Total Amortized cost	3,257,601	3,376,070
Total Gross unrealized gains	45,322	19,467
Total Gross unrealized losses	4,083	16,614
Assets/liabilities measured at fair value
Available-for-sale securities
Available for sale debt securities and equity securities	3,298,840	3,378,923
Carrying Value
Available-for-sale securities
Available for sale debt securities and equity securities	3,298,840	3,378,923
Residential mortgage-backed securities
Available-for-sale securities
Amortized cost	3,196,279	3,285,623
Gross unrealized gains	42,525	16,534
Gross unrealized losses	(4,069)	(16,609)
Residential mortgage-backed securities \| Assets/liabilities measured at fair value
Available-for-sale securities
Available for sale debt securities	3,234,735	3,285,548
Residential mortgage-backed securities \| Carrying Value
Available-for-sale securities
Available for sale debt securities	3,234,735	3,285,548
Mortgage-backed securities by Ginnie Mae
Available-for-sale securities
Available for sale debt securities	438,961	521,247
Mortgage-backed securities by Fannie Mae and Freddie Mac
Available-for-sale securities
Available for sale debt securities	2,795,774	2,714,301
Obligations of states and political subdivisions
Available-for-sale securities
Amortized cost	61,322	90,447
Gross unrealized gains	2,797	2,933
Gross unrealized losses	(14)	(5)
Obligations of states and political subdivisions \| Assets/liabilities measured at fair value
Available-for-sale securities
Available for sale debt securities	64,105	93,375
Obligations of states and political subdivisions \| Carrying Value
Available-for-sale securities
Available for sale debt securities	64,105	93,375
Other securities
Held-to-maturity securities
Amortized cost	3,400	2,400
Estimated fair value	3,400	2,400
Carrying Value	$ 3,400	$ 2,400

Investment Securities and Equ_4

Investment Securities and Equity Securities with Readily Determinable Fair Values (Contractual Maturities and Estimated Fair Values) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Amortized Cost, Rolling Maturity [Abstract]
Due in one year or less, held-to-maturity debt securities amortized cost	$ 1,200		$ 1,200
Due after one year through five years, held-to-maturity debt securities amortized cost	2,200		2,200
Amortized cost, held-to-maturity debt securities	3,400		3,400		$ 2,400
Debt Securities, Held-to-maturity, Maturity, Fair Value, Rolling Maturity [Abstract]
Due in one year or less, held-to-maturity debt securities, Estimated fair value	1,200		1,200
Due after one year through five years, held-to-maturity debt securities, Estimated fair value	2,200		2,200
Estimated fair value	3,400		3,400		2,400
Available-for-sale debt securities amortized cost disclosures
Due after five years through ten years, available-for-sale debt securities amortized cost	355		355
Due after ten years, available-for-sale debt securities amortized cost	60,967		60,967
Residential mortgage-backed securities, amortized cost	3,196,279		3,196,279
Amortized cost, Available-for-sale securities	3,257,601		3,257,601		3,376,070
Available for sale debt securities, Estimated Fair Value Disclosures
Due after five years through ten years, available-for-sale debt securities, Estimated Fair Value	356		356
Due after ten years, available-for-sale debt securities, Estimated Fair Value	63,749		63,749
Residential mortgage-backed securities, Estimated Fair Value	3,234,735		3,234,735
Estimated fair value, Available for sale securities	3,298,840		3,298,840		$ 3,378,923
Available for sale debt securities, Estimated Fair Value Disclosures
Proceeds from sales and calls of available for sale securities	9,875	$ 32,285	28,795	$ 92,980
Proceeds from sales of mortgage-backed securities	0	0	0	0
Gross gains realized on sales	0	1	0	4
Gross losses realized on sales	0	$ 3	5	$ 16
Collateral Pledged
Available-for-sale debt securities amortized cost disclosures
Amortized cost, Available-for-sale securities	1,116,960		1,116,960
Available for sale debt securities, Estimated Fair Value Disclosures
Fair value of available for sale investment securities pledged	$ 1,131,366		$ 1,131,366

Investment Securities and Equ_5

Investment Securities and Equity Securities with Readily Determinable Fair Values (Fair Value and Gross Unrealized Loss) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Available for sale:
Fair value, less than 12 months	$ 1,194,001	$ 523,797
Unrealized losses, less than 12 Months	(4,069)	(2,274)
Fair value, 12 months or more	757	1,448,109
Unrealized losses, 12 Months or More	(14)	(14,340)
Fair value, Total	1,194,758	1,971,906
Unrealized losses, Total	(4,083)	(16,614)
Residential mortgage-backed securities
Available for sale:
Fair value, less than 12 months	1,194,001	523,031
Unrealized losses, less than 12 Months	(4,069)	(2,269)
Fair value, 12 months or more		1,448,109
Unrealized losses, 12 Months or More		(14,340)
Fair value, Total	1,194,001	1,971,140
Unrealized losses, Total	(4,069)	(16,609)
Obligations of states and political subdivisions
Available for sale:
Fair value, less than 12 months		766
Unrealized losses, less than 12 Months		(5)
Fair value, 12 months or more	757
Unrealized losses, 12 Months or More	(14)
Fair value, Total	757	766
Unrealized losses, Total	$ (14)	$ (5)

Investment Securities and Equ_6

Investment Securities and Equity Securities with Readily Determinable Fair Values (Unrealized and realized gains and losses recognized in net income on equity securities ) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Investment Securities and Equity Securities with Readily Determinable Fair Values
Equity Securities	$ 6,182		$ 6,182		$ 6,095
Summary of unrealized and realized gains and losses recognized in net income on equity securities
Net gains (losses) recognized during the period on equity securities	(12)	$ 45	87	$ 235
Unrealized gain on equity securities with readily determinable fair values	$ (12)	$ 45	$ 87	$ 235

Other Borrowed Funds (Details)

Other Borrowed Funds (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Federal Home Loan Bank advances
Other borrowed funds	$ 436,373	$ 626,511
Percentage of increase in other borrowed funds	(30.30%)

Junior Subordinated Interest _3

Junior Subordinated Interest Deferrable Debentures (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)item	Dec. 31, 2019USD ($)
Junior subordinated interest deferrable debentures, major types of business trusts
Number of statutory business trusts issuing trust preferred securities \| item	5
Junior subordinated deferrable interest debentures	$ 134,642	$ 134,642
Maximum number of consecutive quarterly period available for deferral of interest payment on Trusts VIII, IX, X, XI and XII \| item	20
Percentage of capital securities issued by trust qualifying as Tier I capital, maximum	25.00%
Percentage of capital securities issued by trust qualifying as Tier II capital, minimum	25.00%
Capital securities issued by the trust, qualifying as Tier I capital	$ 134,642	$ 134,642
Trust XI
Junior subordinated interest deferrable debentures, major types of business trusts
Junior subordinated deferrable interest debentures	25,990
Trust X
Junior subordinated interest deferrable debentures, major types of business trusts
Junior subordinated deferrable interest debentures	$ 21,021

Junior Subordinated Interest _4

Junior Subordinated Interest Deferrable Debentures (Key Information) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Junior subordinated interest deferrable debentures, major types of business trusts
Junior subordinated deferrable interest debentures	$ 134,642	$ 134,642
Trust VIII
Junior subordinated interest deferrable debentures, major types of business trusts
Junior subordinated deferrable interest debentures	$ 25,774
Interest rate (as a percent)	3.33%
Interest rate index	LIBOR
Spread on interest rate index (as a percent)	3.05%
Trust IX
Junior subordinated interest deferrable debentures, major types of business trusts
Junior subordinated deferrable interest debentures	$ 41,238
Interest rate (as a percent)	1.92%
Interest rate index	LIBOR
Spread on interest rate index (as a percent)	1.62%
Trust X
Junior subordinated interest deferrable debentures, major types of business trusts
Junior subordinated deferrable interest debentures	$ 21,021
Interest rate (as a percent)	1.90%
Interest rate index	LIBOR
Spread on interest rate index (as a percent)	1.65%
Trust XI
Junior subordinated interest deferrable debentures, major types of business trusts
Junior subordinated deferrable interest debentures	$ 25,990
Interest rate (as a percent)	1.92%
Interest rate index	LIBOR
Spread on interest rate index (as a percent)	1.62%
Trust XII
Junior subordinated interest deferrable debentures, major types of business trusts
Junior subordinated deferrable interest debentures	$ 20,619
Interest rate (as a percent)	1.69%
Interest rate index	LIBOR
Spread on interest rate index (as a percent)	1.45%

Common Stock and Dividends (Det

Common Stock and Dividends (Details) - USD ($) $ / shares in Units, $ in Thousands	Oct. 05, 2020	Apr. 03, 2020	Mar. 12, 2020	Oct. 15, 2019	Apr. 15, 2019	Apr. 30, 2009	Nov. 03, 2020
Common Stock and Dividends
Cash dividends paid to common shareholders (in dollars per share)	$ 0.55	$ 0.55		$ 0.55	$ 0.50
Repurchase of common stock, authorized amount			$ 50,000			$ 40,000
Period of repurchase of common stock			12 months			12 months
Cumulative number of shares repurchased under all stock repurchase programs							12,267,402
Cumulative cost of shares repurchased under all stock repurchase programs							$ 357,054

Capital Ratio (Details)

Capital Ratio (Details) $ in Thousands	9 Months Ended
Capital Ratio (Details) $ in Thousands	Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)
Capital Ratios
CET 1 ratio	18.57	18.58
Total Capital (to Risk Weighted Assets), Actual Ratio (as a percent)	20.96	20.46
Tier 1 capital (to Risk Weighted Assets), Actual Ratio (as a percent)	19.77	19.80
Tier 1 capital (to Average Assets), Actual Ratio (as a percent)	14.74	16.65
Percentage of capital securities issued by trust qualifying as Tier I capital, maximum	25.00%
Percentage of capital securities issued by trust qualifying as Tier II capital, minimum	25.00%
Capital securities issued by the trust, qualifying as Tier I capital	$ 134,642	$ 134,642
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust	$ 134,642	$ 134,642