International Bancshares (IBOC) 10-Q1 Aug 242024 Q2 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2024	Jul. 29, 2024
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
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, $1.00 par value
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		62,192,105
Entity Central Index Key	0000315709
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Statements of Cond

Consolidated Statements of Condition (Unaudited) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 792,166,000	$ 651,058,000
Investment securities:
Held to maturity debt securities (Market value of $4,400 on June 30, 2024 and $3,400 on December 31, 2023)	4,400,000	3,400,000
Available for sale debt securities (Amortized cost of $5,410,572 on June 30, 2024 and $5,330,814 on December 31, 2023)	4,869,027,000	4,822,341,000
Equity securities with readily determinable fair values	5,337,000	5,417,000
Total investment securities	4,878,764,000	4,831,158,000
Loans	8,267,827,000	8,058,961,000
Less allowance for credit losses	(148,609,000)	(157,069,000)
Net loans	8,119,218,000	7,901,892,000
Bank premises and equipment, net	434,402,000	437,094,000
Accrued interest receivable	71,726,000	65,302,000
Other investments	342,712,000	343,452,000
Cash surrender value of life insurance policies	298,910,000	303,486,000
Goodwill	282,532,000	282,532,000
Other assets	271,304,000	250,215,000
Total assets	15,491,734,000	15,066,189,000
Deposits:
Demand-non-interest bearing	4,852,392,000	5,030,845,000
Savings and interest bearing demand	4,534,315,000	4,368,532,000
Time	2,644,913,000	2,425,177,000
Total deposits	12,031,620,000	11,824,554,000
Securities sold under repurchase agreements	611,588,000	530,416,000
Other borrowed funds	10,644,000	10,745,000
Junior subordinated deferrable interest debentures	108,868,000	108,868,000
Other liabilities	151,653,000	143,832,000
Total liabilities	12,914,373,000	12,618,415,000
Shareholders' equity:
Common shares of $1.00 par value. Authorized 275,000,000 shares; issued 96,580,302 shares on June 30, 2024 and 96,466,900 shares on December 31, 2023	96,580,000	96,467,000
Surplus	158,171,000	155,511,000
Retained earnings	3,182,368,000	3,029,088,000
Accumulated other comprehensive loss	(423,860,000)	(397,889,000)
Total shareholders' equity before treasury stock	3,013,259,000	2,883,177,000
Less cost of shares in treasury, 34,400,468 shares on June 30, 2024 and 34,391,184 on December 31, 2023	(435,898,000)	(435,403,000)
Total shareholders' equity	2,577,361,000	2,447,774,000
Total liabilities and shareholders' equity	$ 15,491,734,000	$ 15,066,189,000

Consolidated Statements of Co_2

Consolidated Statements of Condition (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Consolidated Statements of Condition (Unaudited)
Held to maturity, Market value (in dollars)	$ 4,400	$ 3,400
Available for sale, Amortized cost (in dollars)	$ 5,410,572	$ 5,330,814
Common shares, par value (in dollars per share)	$ 1	$ 1
Common shares, Authorized shares	275,000,000	275,000,000
Common shares, issued shares	96,580,302	96,466,900
Treasury, shares	34,400,468	34,391,184

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Interest income:
Loans, including fees	$ 168,365	$ 152,896	$ 336,693	$ 295,166
Investment securities:
Taxable	37,137	32,175	73,400	61,984
Tax-exempt	1,539	1,569	3,085	3,147
Other interest income	8,631	11,484	14,583	25,976
Total interest income	215,672	198,124	427,761	386,273
Interest expense:
Savings deposits	20,631	14,778	40,547	26,472
Time deposits	23,450	11,628	44,726	18,457
Securities sold under repurchase agreements	5,319	3,295	10,559	5,437
Other borrowings	69	71	139	142
Junior subordinated deferrable interest debentures	1,972	1,897	3,951	4,125
Total interest expense	51,441	31,669	99,922	54,633
Net interest income	164,231	166,455	327,839	331,640
Credit loss expense	8,771	8,816	21,749	17,403
Net interest income after provision for credit losses	155,460	157,639	306,090	314,237
Non-interest income:
Other investments income, (loss), net	3,049	(2,900)	4,672	55
Other income	4,844	5,554	10,447	9,399
Total non-interest income	43,520	37,702	85,762	78,064
Non-interest expense:
Employee compensation and benefits	35,629	33,294	71,496	66,153
Occupancy	6,686	6,004	12,363	12,330
Depreciation of bank premises and equipment	5,715	5,408	11,344	10,874
Professional fees	4,212	3,338	7,903	6,928
Deposit insurance assessments	1,696	1,693	3,395	5,831
Net operations, other real estate owned	297	105	327	(1,640)
Advertising	1,462	1,289	3,282	2,553
Software and software maintenance	5,651	4,928	10,963	9,897
Other	12,760	11,475	22,678	22,637
Total non-interest expense	74,108	67,534	143,751	135,563
Income before income taxes	124,872	127,807	248,101	256,738
Provision for income taxes	27,892	27,322	53,790	54,610
Net income	$ 96,980	$ 100,485	$ 194,311	$ 202,128
Basic earnings per common share:
Weighted average number of shares outstanding (in shares)	62,177,215	62,074,485	62,163,797	62,108,188
Net income per common share (in dollars per share)	$ 1.56	$ 1.62	$ 3.13	$ 3.25
Fully diluted earnings per common share:
Weighted average number of shares outstanding (in shares)	62,292,058	62,205,297	62,279,676	62,243,626
Net income per common share (in dollars per share)	$ 1.56	$ 1.62	$ 3.12	$ 3.25
Services charges on deposit accounts
Non-interest income:
Service charges on deposit accounts	$ 18,091	$ 18,075	$ 36,358	$ 35,628
Other service charges, commissions and fees, Banking
Non-interest income:
Service charges on deposit accounts	14,643	14,392	29,118	28,447
Other service charges, commissions and fees, Non-banking
Non-interest income:
Service charges on deposit accounts	$ 2,893	$ 2,581	$ 5,167	$ 4,535

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Consolidated Statements of Comprehensive Income (Unaudited)
Net Income (Loss)	$ 96,980	$ 100,485	$ 194,311	$ 202,128
Other comprehensive loss, net of tax:
Net change in unrealized holding losses on securities available for sale arising during period (net of tax effects of $(1,041), $(16,433), $(6,904), and $(3,141))	(3,915)	(61,821)	(25,971)	(11,815)
Other comprehensive loss, net of tax	(3,915)	(61,821)	(25,971)	(11,815)
Comprehensive income	$ 93,065	$ 38,664	$ 168,340	$ 190,313

Consolidated Statements of Co_3

Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Consolidated Statements of Comprehensive Income (Unaudited)
Net change in unrealized holding losses on securities available for sale arising during period, tax effects	$ (1,041)	$ (16,433)	$ (6,904)	$ (3,141)

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock	Surplus	Retained Earnings	Other Comprehensive Income (Loss)	Treasury Stock	Total
Balance at Dec. 31, 2022	$ 96,420	$ 154,061	$ 2,695,567	$ (470,497)	$ (430,792)	$ 2,044,759
Balance (in shares) at Dec. 31, 2022	96,420
Increase (decrease) in shareholders' equity
Net Income (Loss)			202,128			202,128
Dividends:
Cash			(39,151)			(39,151)
Purchase of treasury stock					(4,403)	(4,403)
Exercise of stock options	$ 12	282				294
Exercise of stock options (in shares)	12
Stock compensation expense recognized in earnings		179				179
Other comprehensive loss, net of tax:
Net change in unrealized gains and losses on available for sale securities, net of reclassification adjustments				(11,815)		(11,815)
Balance at Jun. 30, 2023	$ 96,432	154,522	2,858,544	(482,312)	(435,195)	2,191,991
Balance (in shares) at Jun. 30, 2023	96,432
Balance at Mar. 31, 2023	$ 96,424	154,244	2,758,059	(420,491)	(431,828)	2,156,408
Balance (in shares) at Mar. 31, 2023	96,424
Increase (decrease) in shareholders' equity
Net Income (Loss)			100,485			100,485
Dividends:
Purchase of treasury stock					(3,367)	(3,367)
Exercise of stock options	$ 8	201				209
Exercise of stock options (in shares)	8
Stock compensation expense recognized in earnings		77				77
Other comprehensive loss, net of tax:
Net change in unrealized gains and losses on available for sale securities, net of reclassification adjustments				(61,821)		(61,821)
Balance at Jun. 30, 2023	$ 96,432	154,522	2,858,544	(482,312)	(435,195)	2,191,991
Balance (in shares) at Jun. 30, 2023	96,432
Balance at Dec. 31, 2023	$ 96,467	155,511	3,029,088	(397,889)	(435,403)	2,447,774
Balance (in shares) at Dec. 31, 2023	96,467
Increase (decrease) in shareholders' equity
Net Income (Loss)			194,311			194,311
Dividends:
Cash			(41,031)			(41,031)
Purchase of treasury stock					(495)	(495)
Exercise of stock options	$ 113	2,538				2,651
Exercise of stock options (in shares)	113
Stock compensation expense recognized in earnings		122				122
Other comprehensive loss, net of tax:
Net change in unrealized gains and losses on available for sale securities, net of reclassification adjustments				(25,971)		(25,971)
Balance at Jun. 30, 2024	$ 96,580	158,171	3,182,368	(423,860)	(435,898)	2,577,361
Balance (in shares) at Jun. 30, 2024	96,580
Balance at Mar. 31, 2024	$ 96,570	157,775	3,085,388	(419,945)	(435,898)	2,483,890
Balance (in shares) at Mar. 31, 2024	96,570
Increase (decrease) in shareholders' equity
Net Income (Loss)			96,980			96,980
Dividends:
Exercise of stock options	$ 10	348				358
Exercise of stock options (in shares)	10
Stock compensation expense recognized in earnings		48				48
Other comprehensive loss, net of tax:
Net change in unrealized gains and losses on available for sale securities, net of reclassification adjustments				(3,915)		(3,915)
Balance at Jun. 30, 2024	$ 96,580	$ 158,171	$ 3,182,368	$ (423,860)	$ (435,898)	$ 2,577,361
Balance (in shares) at Jun. 30, 2024	96,580

Consolidated Statements of Sh_2

Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Consolidated Statements of Shareholders' Equity
Cash Dividends (in dollars per share)		$ 0.66	$ 0.63
Purchase of treasury stock (in shares)	83,062	9,284	108,062

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
Consolidated Statements of Cash Flows (Unaudited) - USD ($)	Jun. 30, 2024	Jun. 30, 2023
Operating activities:
Net income	$ 194,311,000	$ 202,128,000
Adjustments to reconcile net income to net cash provided by operating activities:
Credit loss expense	21,749,000	17,403,000
Specific reserve, other real estate owned	16,000	297,000
Depreciation of bank premises and equipment	11,344,000	10,874,000
Gain on sale of bank premises and equipment	(344,000)	(124,000)
Gain on sale of other real estate owned	(281,000)	(2,626,000)
Accretion of investment securities discounts	(957,000)	(972,000)
Amortization of investment securities premiums	2,778,000	3,504,000
Unrealized loss on equity securities with readily determinable fair values	80,000	58,000
Stock based compensation expense	122,000	179,000
(Earnings) losses from affiliates and other investments	(1,781,000)	2,696,000
Deferred tax expense (benefit)	8,664,000	(3,190,000)
Increase in accrued interest receivable	(6,424,000)	(7,584,000)
Increase in other assets	(3,546,000)	(18,525,000)
Increase in other liabilities	16,858,000	23,821,000
Net cash provided by operating activities	242,589,000	227,939,000
Investing activities:
Proceeds from maturities of securities	2,075,000	51,167,000
Proceeds from sales and calls of available for sale securities	1,720,000	450,000
Purchases of available for sale securities	(429,932,000)	(688,709,000)
Principal collected on mortgage backed securities	343,558,000	296,920,000
Net increase in loans	(242,275,000)	(145,855,000)
Purchases of other investments	(25,062,000)	(21,627,000)
Distributions from other investments	6,393,000	7,048,000
Purchases of bank premises and equipment	(8,882,000)	(9,885,000)
Proceeds from sales of bank premises and equipment	574,000	151,000
Proceeds from sales of other real estate owned	1,088,000	3,341,000
Net cash used in investing activities	(350,743,000)	(506,999,000)
Financing activities:
Net decrease in non-interest bearing demand deposits	(178,453,000)	(584,871,000)
Net increase (decrease) in savings and interest bearing demand deposits	165,783,000	(363,597,000)
Net increase (decrease) in time deposits	219,736,000	223,767,000
Net increase in securities sold under repurchase agreements	81,172,000	10,643,000
Net decrease in other borrowed funds	(101,000)	(99,000)
Redemption of long-term debt		(25,774,000)
Purchase of treasury stock	(495,000)	(4,403,000)
Proceeds from stock transactions	2,651,000	294,000
Payments of cash dividends	(41,031,000)	(39,151,000)
Net cash provided by (used in) financing activities	249,262,000	(783,191,000)
Increase (decrease) in cash and cash equivalents	141,108,000	(1,062,251,000)
Cash and cash equivalents at beginning of period	651,058,000	2,087,724,000
Cash and cash equivalents at end of period	792,166,000	1,025,473,000
Supplemental cash flow information:
Interest paid	96,325,000	45,883,000
Income taxes paid	30,176,000	48,326,000
Non-cash investing and financing activities:
Net transfers from loans to other real estate owned	$ 3,200,000	$ 519,000

Basis of Presentation

Basis of Presentation	6 Months Ended
Basis of Presentation	Jun. 30, 2024
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 (“US GAAP”) and to general practices within the banking industry. Our consolidated financial statements include the accounts of International Bancshares Corporation, and our five 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 five wholly-owned non-bank subsidiaries, IBC Trading Company, Premier Tierra Holdings, Inc., IBC Charitable and Community Development Corporation, IBC Capital Corporation, and Diamond Beach Holdings, LLC. Our consolidated financial statements are unaudited but include all adjustments that, 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 to Shareholders on Form ARS for the fiscal year ended December 31, 2023, furnished to the U.S. Securities and Exchange Commission (“SEC”) on April 22, 2024 (our “2023 Annual Report”). Our consolidated statement of condition at December 31, 2023 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by US GAAP for complete financial statements. 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.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Jun. 30, 2024
Fair Value Measurements
Fair Value Measurements	Note 2 — Fair Value Measurements FASB 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 June 30, 2024 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 June 30, 2024 (Level 1) (Level 2) (Level 3) Measured on a recurring basis: Assets: Available for sale debt securities Residential mortgage-backed securities $ 4,712,423 $ — $ 4,712,423 $ — States and political subdivisions 156,604 — 156,604 — Equity Securities 5,337 5,337 — — $ 4,874,364 $ 5,337 $ 4,869,027 $ — 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, 2023 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, 2023 (Level 1) (Level 2) (Level 3) Measured on a recurring basis: Assets: Available for sale securities Residential mortgage-backed securities $ 4,660,099 $ — $ 4,660,099 $ — States and political subdivisions 162,242 — 162,242 — Equity Securities 5,417 5,417 — — $ 4,827,758 $ 5,417 $ 4,822,341 $ — Available-for-sale securities are classified within Level 1 or 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 June 30, 2024 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 Period ended Identical Observable Unobservable Provision June 30, Assets Inputs Inputs During 2024 (Level 1) (Level 2) (Level 3) Period Measured on a non-recurring basis: Assets: Watch List—Doubtful loans $ 33,465 $ — $ — $ 33,465 $ 5,471 Other real estate owned 2,920 — — 2,920 16 The following table represents financial instruments measured at fair value on a non-recurring basis as of and for the period ended December 31, 2023 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 Year ended for Identical Observable Unobservable Provision December 31, Assets Inputs Inputs During 2023 (Level 1) (Level 2) (Level 3) Period Measured on a non-recurring basis: Assets: Watch List—Doubtful loans $ 46,124 $ — $ — $ 46,124 $ 10,221 Other real estate owned 307 — — 307 2,538 Our assets measured at fair value on a non-recurring basis are limited to loans classified as Watch List—Doubtful and other real estate owned. The fair value of Watch List—Doubtful loans is derived in accordance with FASB ASC Subtopic 326-10, “Financial Instruments – Credit Losses - Overall”. 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 (“ACL”). The fair value of the loan is based on the fair value of the collateral, as determined through either an appraisal or internal 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 internal 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 June 30, 2024, we had $101,697,000 of doubtful commercial collateral dependent loans, of which $25,064,000 had an appraisal performed within the immediately preceding twelve months, and of which $488,000 had an internal evaluation performed within the immediately preceding twelve months. As of December 31, 2023, we had approximately $46,491,000 of doubtful commercial collateral dependent loans, of which $1,272,000 had an appraisal performed within the immediately preceding twelve months and of which $35,061,000 had an internal evaluation performed within the immediately preceding twelve months. Our determination to either seek an appraisal or to perform an internal 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 ACL, if necessary. The fair value is reviewed periodically, and subsequent write-downs are made through a charge to operations, accordingly. Other real estate owned is included in other assets on the consolidated financial statements. For the three and six months ended June 30, 2024 and the twelve months ended December 31, 2023, we recorded $2,228,000, $0, and $0, respectively, in charges to the ACL in connection with loans transferred to other real estate owned. For the three and six months ended June 30, 2024 and the twelve months ended December 31, 2023, we recorded $16,000, $0, and $2,538,000, 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 June 30, 2024 and December 31, 2023 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 established by 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 or 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 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 June 30, 2024 and December 31, 2023, the carrying amount of fixed rate performing loans was 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 June 30, 2024 and December 31, 2023. 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 June 30, 2024 and December 31, 2023, the carrying amount of time deposits was 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 June 30, 2024 and December 31, 2023. 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 June 30, 2024 and December 31, 2023. Other Borrowed Funds We currently have long-term borrowings issued from the Federal Home Loan Bank (“FHLB”). The long-term borrowings outstanding at June 30, 2024 and December 31, 2023 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 June 30, 2024 and December 31, 2023, the carrying amount of the fixed rate long-term FHLB borrowings was 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	6 Months Ended
Loans	Jun. 30, 2024
Loans
Loans	Note 3 — Loans A summary of loans, by loan type, at June 30, 2024 and December 31, 2023 is as follows: June 30, December 31, 2024 2023 (Dollars in Thousands) Commercial, financial and agricultural $ 4,769,703 $ 4,802,622 Real estate - mortgage 967,792 938,901 Real estate - construction 2,303,690 2,091,622 Consumer 46,954 45,121 Foreign 179,688 180,695 Total loans $ 8,267,827 $ 8,058,961

Allowance for Credit Losses

Allowance for Credit Losses	6 Months Ended
Allowance for Credit Losses	Jun. 30, 2024
Allowance for Credit Losses
Allowance for Credit Losses	Note 4 — Allowance for Credit Losses 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. 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 our credit quality committee to determine if a loan has any potential problems and 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 determine if a loan should be placed on our 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, (v) Watch List—Substandard, and (vi) Watch List—Doubtful. Loans placed in the Economic Monitoring or Special Review categories reflect our opinion that the loans have potential weaknesses that require monitoring on a more frequent basis. Credits in those categories 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. Loans placed in the Watch List—Pass category and lower rated credits reflect our opinion that the credits contain weaknesses that represent a greater degree of risk, which warrants “extra attention.” Credits placed in those categories 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. 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. Those credit obligations, even if apparently protected by collateral value, have shown defined weaknesses related to adverse financial, managerial, economic, market or political conditions that we believe may jeopardize repayment of principal and interest. Furthermore, there is a possibility that we may sustain some future loss if such weaknesses are not corrected. Loans placed in the Watch List—Doubtful category have shown defined weaknesses and reflect our belief that it is likely, based on current information and events, that we will be unable to collect all principal and/or interest amounts contractually due. Loans placed in the Watch List—Doubtful category 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 classified as Watch List—Doubtful, management evaluates these loans in accordance with FASB ASC Subtopic 326-20, “Financial Instruments – Credit Losses – Measured at Amortized Cost,” and, if deemed necessary, a specific reserve is allocated to the loan. The analysis of the amount of the specific reserve to be allocated is based on a variety of factors, including the borrower’s ability to pay, the economic conditions impacting the borrower’s industry and any collateral deficiency. If it is a collateral dependent loan, the net realizable fair value of collateral will be evaluated for any deficiencies. Substantially all of our loans evaluated as Watch List—Doubtful 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 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 and non-accruals, (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, geopolitical events, and large loans. The large loan operational risk factor was added to our ACL calculation beginning in the second quarter of 2023. Because of the magnitude of large loans, they pose a higher risk of default. Recognizing this risk, and establishing an operational risk factor to capture that risk, is prudent action in the current economic environment. Large loans are usually part of a larger relationship with collateral that is pledged across the relationship. Defaulting on a larger loan may therefore jeopardize an entire relationship. The current economic environment has created challenges for borrowers to service their debt. Increasing capitalization rates, elevated office vacancies, an upward trend in apartment vacancies and significant increases in interest rates are all contributing to the elevated risk in large loans. 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 our 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 June 30, 2024 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 March 31, 2024 $ 26,676 $ 55,097 $ 39,402 $ 3,768 $ 5,757 $ 10,648 $ 313 $ 1,137 $ 142,798 Losses charged to allowance (1,979) (2,228) — — (1) — (52) — (4,260) Recoveries credited to allowance 1,234 — 6 — 34 26 — — 1,300 Net (losses) recoveries charged to allowance (745) (2,228) 6 — 33 26 (52) — (2,960) Credit loss expense 1,324 1,971 5,480 (240) 16 (35) 53 202 8,771 Balance at June 30, 2024 $ 27,255 $ 54,840 $ 44,888 $ 3,528 $ 5,806 $ 10,639 $ 314 $ 1,339 $ 148,609 Three Months Ended June 30, 2023 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 March 31, 2023 $ 27,788 $ 50,933 $ 36,556 $ 3,984 $ 4,559 $ 8,357 $ 291 $ 1,089 $ 133,557 Losses charged to allowance (2,792) — — — — (164) (26) — (2,982) Recoveries credited to allowance 556 526 6 — 1 15 8 — 1,112 Net (losses) recoveries charged to allowance (2,236) 526 6 — 1 (149) (18) — (1,870) Credit loss expense 2,093 1,605 2,126 122 532 2,234 13 91 8,816 Balance at June 30, 2023 $ 27,645 $ 53,064 $ 38,688 $ 4,106 $ 5,092 $ 10,442 $ 286 $ 1,180 $ 140,503 Six Months Ended June 30, 2024 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, 2023 $ 35,550 $ 55,291 $ 42,703 $ 5,088 $ 5,812 $ 11,024 $ 318 $ 1,283 $ 157,069 Losses charged to allowance (29,720) (2,228) — — (46) — (90) — (32,084) Recoveries credited to allowance 1,789 — 10 — 36 35 5 — 1,875 Net (losses) recoveries charged to allowance (27,931) (2,228) 10 — (10) 35 (85) — (30,209) Credit loss expense 19,636 1,777 2,175 (1,560) 4 (420) 81 56 21,749 Balance at June 30, 2024 $ 27,255 $ 54,840 $ 44,888 $ 3,528 $ 5,806 $ 10,639 $ 314 $ 1,339 $ 148,609 Six Months Ended June 30, 2023 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, 2022 $ 26,728 $ 44,684 $ 36,474 $ 3,794 $ 4,759 $ 8,284 $ 281 $ 968 $ 125,972 Losses charged to allowance (4,763) — — — — (165) (87) — (5,015) Recoveries credited to allowance 1,181 837 11 — 8 92 14 — 2,143 Net (losses) recoveries charged to allowance (3,582) 837 11 — 8 (73) (73) — (2,872) Credit loss expense 4,499 7,543 2,203 312 325 2,231 78 212 17,403 Balance at June 30, 2023 $ 27,645 $ 53,064 $ 38,688 $ 4,106 $ 5,092 $ 10,442 $ 286 $ 1,180 $ 140,503 The increase in losses charged to the ACL for the six months ended June 30, 2024 in the Commercial category can be attributed to a charge-down on one loan secured primarily by equipment and pipeline infrastructure used in the oil and gas industry. The credit has been classified as Watch List—Doubtful since the end of 2022 at which time, and going forward, we have evaluated our loss exposure and adjusted reserves accordingly. We also continued to attempt to work with our customer during that period; however, those negotiations came to a halt late in the third quarter of 2023 when the customer declared bankruptcy. In March 2024, the bankruptcy court awarded the winning bid at foreclosure for the assets collateralizing the loan to a principal owner of the business. The bid was not for the full carrying value of the loan and resulted in a charge-down of approximately The tables below provide additional information on the balance of loans individually or collectively evaluated for impairment and their related allowance, by loan class, as of June 30, 2024 and December 31, 2023: June 30, 2024 Loans Individually Loans Collectively Evaluated For Evaluated For Impairment Impairment Recorded Recorded Investment Allowance Investment Allowance (Dollars in Thousands) Domestic Commercial $ 1,377 $ 400 $ 1,583,800 $ 26,855 Commercial real estate: other construction & land development 10,029 3,500 2,293,661 51,340 Commercial real estate: farmland & commercial 51,915 5,541 2,815,477 39,347 Commercial real estate: multifamily 38,645 — 278,489 3,528 Residential: first lien 55 — 498,595 5,806 Residential: junior lien — — 469,142 10,639 Consumer — — 46,954 314 Foreign — — 179,688 1,339 Total $ 102,021 $ 9,441 $ 8,165,806 $ 139,168 December 31, 2023 Loans Individually Loans Collectively Evaluated For Evaluated For Impairment Impairment Recorded Recorded Investment Allowance Investment Allowance (Dollars in Thousands) Domestic Commercial $ 30,872 $ 7,971 $ 1,597,358 $ 27,579 Commercial real estate: other construction & land development 15,701 4,320 2,075,921 50,971 Commercial real estate: farmland & commercial 299 — 2,793,254 42,703 Commercial real estate: multifamily 96 — 380,743 5,088 Residential: first lien 93 — 477,940 5,812 Residential: junior lien — — 460,868 11,024 Consumer — — 45,121 318 Foreign — — 180,695 1,283 Total $ 47,061 $ 12,291 $ 8,011,900 $ 144,778 The increase in Commercial real estate: farmland & commercial loans individually evaluated for impairment at June 30, 2024 from December 31, 2023 can be attributed to relationship secured by commercial buildings in which childcare centers are operated. The increase in Commercial real estate: multifamily loans individually evaluated for impairment at June 30, 2024 from December 31, 2023 can be attributed to the downgrade of relationships secured by apartments that were downgraded to Watch List – Doubtful and put on non-accrual. The decrease in Commercial loans individually evaluated for impairment at June 30, 2024 can be attributed to the charge-down discussed above. The table below provides additional information on loans accounted for on a non-accrual basis by loan class at June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 (Dollars in Thousands) Domestic Commercial $ 1,377 $ 30,872 Commercial real estate: other construction & land development 10,029 15,701 Commercial real estate: farmland & commercial 51,915 299 Commercial real estate: multifamily 38,645 96 Residential: first lien 173 202 Total non-accrual loans $ 102,139 $ 47,170 We adopted the provisions of FASB ASU 2022-02, Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures (“ASU 2022-02”) on January 1, 2023. ASU 2022-02 eliminates the accounting guidance for troubled debt restructurings in existing guidance and enhances disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. Additionally, ASU 2022-02 requires entities to disclose current period gross write-offs by year of origination for financing receivables and net investments in leases. The adoption of ASU 2022-22 did not have a significant impact on our consolidated financial statements. We occasionally provide modifications to borrowers experiencing financial difficulties. Modifications may include certain concessions that we must evaluate under ASU 2022-02 to determine the need for disclosure. Concessions to borrowers experiencing financial difficulties that would require disclosure include principal forgiveness, a term extension, an other-than-insignificant payment delay, an interest rate reduction or a combination of these concessions. For the six months ended June 30, 2024, we did not provide any modifications under these circumstances to any borrower experiencing financial difficulty. The Subsidiary Banks charge-off that portion of any loan that management considers to represent a loss or that is classified as a “loss” by bank examiners. Management generally considers commercial and industrial or real estate loans 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 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 June 30, 2024 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 June 30, 2024 and December 31, 2023: June 30, 2024 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 $ 4,558 $ 1,892 $ 1,713 $ 639 $ 8,163 $ 1,577,014 $ 1,585,177 Commercial real estate: other construction & land development 24,807 7 9,952 — 34,766 2,268,924 2,303,690 Commercial real estate: farmland & commercial 5,474 54 168 168 5,696 2,861,696 2,867,392 Commercial real estate: multifamily 13,672 — 25,534 470 39,206 277,928 317,134 Residential: first lien 4,082 1,012 2,643 2,556 7,737 490,913 498,650 Residential: junior lien 1,557 880 1,828 1,828 4,265 464,877 469,142 Consumer 94 32 25 25 151 46,803 46,954 Foreign 3,379 106 — — 3,485 176,203 179,688 Total past due loans $ 57,623 $ 3,983 $ 41,863 $ 5,686 $ 103,469 $ 8,164,358 $ 8,267,827 December 31, 2023 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 $ 2,387 $ 1,583 $ 30,238 $ 539 $ 34,208 $ 1,594,022 $ 1,628,230 Commercial real estate: other construction & land development 3,460 — 10,245 — 13,705 2,077,917 2,091,622 Commercial real estate: farmland & commercial 1,424 371 93 4 1,888 2,791,665 2,793,553 Commercial real estate: multifamily 369 330 — — 699 380,140 380,839 Residential: first lien 1,812 1,439 2,545 2,437 5,796 472,236 478,032 Residential: junior lien 1,273 613 1,701 1,701 3,587 457,282 460,869 Consumer 263 11 27 27 301 44,820 45,121 Foreign 1,884 848 889 889 3,621 177,074 180,695 Total past due loans $ 12,872 $ 5,195 $ 45,738 $ 5,597 $ 63,805 $ 7,995,156 $ 8,058,961 The increase in Commercial real estate: other construction & land development past due 30 – 59 days at June 30, 2024 compared to December 31, 2023 can be primarily attributed to three loans secured by real estate. The increase in Commercial real estate: multifamily loans past due 30 – 59 days at June 30, 2024 compared to December 31, 2023 can be primarily attributed to a loan secured by apartments. The increase in Commercial real estate: multifamily loans past due 90 days or greater at June 30, 2024 compared to December 31, 2023 can be attributed to A summary of the loan portfolio by credit quality indicator by loan class and by year of origination at June 30, 2024 and December 31, 2023 is presented below: 2024 2023 2022 2021 2020 Prior Total (Dollars in Thousands) Balance at June 30, 2024 Domestic Commercial Pass $ 428,054 $ 559,120 $ 152,661 $ 290,204 $ 42,125 $ 96,681 $ 1,568,845 Special Review — 1,872 — 138 — — 2,010 Watch List - Pass — 11,760 — — — — 11,760 Watch List - Substandard 183 947 35 19 — 1 1,185 Watch List - Doubtful 78 308 991 — — — 1,377 Total Commercial $ 428,315 $ 574,007 $ 153,687 $ 290,361 $ 42,125 $ 96,682 $ 1,585,177 Commercial Current-period gross writeoffs $ 1,768 $ 2,288 $ 25,620 $ 27 $ 14 $ 3 $ 29,720 Commercial real estate: other construction & land development Pass $ 512,208 $ 916,247 $ 506,150 $ 276,944 $ 44,154 $ 10,949 $ 2,266,652 Special Review — 17,370 — — — — 17,370 Watch List - Substandard 178 9,460 — — — — 9,638 Watch List - Doubtful 78 — 9,952 — — — 10,030 Total Commercial real estate: other construction & land development $ 512,464 $ 943,077 $ 516,102 $ 276,944 $ 44,154 $ 10,949 $ 2,303,690 Commercial real estate: other construction & land development Current-period gross writeoffs $ — $ 1,146 $ 1,082 $ — $ — $ — $ 2,228 Commercial real estate: farmland & commercial Pass $ 443,421 $ 734,880 $ 579,702 $ 361,011 $ 253,124 $ 344,498 $ 2,716,636 Special Review 693 68,156 — — — — 68,849 Watch List - Pass 16,504 — — 220 — — 16,724 Watch List - Substandard — 8,781 2,170 — 2,277 40 13,268 Watch List - Doubtful 51,915 — — — — — 51,915 Total Commercial real estate: farmland & commercial $ 512,533 $ 811,817 $ 581,872 $ 361,231 $ 255,401 $ 344,538 $ 2,867,392 Commercial real estate: multifamily Pass $ 53,481 $ 17,385 $ 90,883 $ 22,517 $ 60,011 $ 34,212 $ 278,489 Watch List - Doubtful 13,500 25,064 81 — — — 38,645 Total Commercial real estate: multifamily $ 66,981 $ 42,449 $ 90,964 $ 22,517 $ 60,011 $ 34,212 $ 317,134 Residential: first lien Pass $ 122,822 $ 113,107 $ 85,626 $ 60,962 $ 31,390 $ 84,279 $ 498,186 Watch List - Substandard 97 — — 312 — — 409 Watch List - Doubtful — — 55 — — — 55 Total Residential: first lien $ 122,919 $ 113,107 $ 85,681 $ 61,274 $ 31,390 $ 84,279 $ 498,650 Residential: first lien Current-period gross writeoffs $ — $ — $ — $ — $ — $ 46 $ 46 Residential: junior lien Pass $ 45,871 $ 80,297 $ 69,827 $ 90,926 $ 71,044 $ 111,177 $ 469,142 Total Residential: junior lien $ 45,871 $ 80,297 $ 69,827 $ 90,926 $ 71,044 $ 111,177 $ 469,142 Consumer Pass $ 23,740 $ 18,735 $ 2,218 $ 642 $ 87 $ 1,532 $ 46,954 Total Consumer $ 23,740 $ 18,735 $ 2,218 $ 642 $ 87 $ 1,532 $ 46,954 Consumer Current-period gross writeoffs $ 4 $ 66 $ 19 $ — $ — $ 1 $ 90 Foreign Pass $ 83,144 $ 57,860 $ 21,027 $ 10,745 $ 1,641 $ 5,271 $ 179,688 Total Foreign $ 83,144 $ 57,860 $ 21,027 $ 10,745 $ 1,641 $ 5,271 $ 179,688 Foreign Current-period gross writeoffs $ — $ — $ — $ — $ — $ — $ — Total Loans $ 1,795,967 $ 2,641,349 $ 1,521,378 $ 1,114,640 $ 505,853 $ 688,640 $ 8,267,827 2023 2022 2021 2020 2019 Prior Total (Dollars in Thousands) Balance at December 31, 2023 Domestic Commercial Pass $ 791,233 $ 272,919 $ 364,271 $ 50,602 $ 21,468 $ 74,119 $ 1,574,612 Special Review 7,613 1,800 164 — — — 9,577 Watch List - Pass 11,865 — — — — — 11,865 Watch List - Substandard 1,180 92 28 — — 4 1,304 Watch List - Doubtful 27 30,810 35 — — — 30,872 Total Commercial $ 811,918 $ 305,621 $ 364,498 $ 50,602 $ 21,468 $ 74,123 $ 1,628,230 Commercial Current-period gross writeoffs $ 7,053 $ 2,187 $ 155 $ 264 $ 2 $ 3 $ 9,664 Commercial real estate: other construction & land development Pass $ 938,739 $ 674,037 $ 324,238 $ 96,400 $ 14,058 $ 3,219 $ 2,050,691 Watch List - Substandard 25,230 — — — — — 25,230 Watch List - Doubtful 2,726 12,975 — — — — 15,701 Total Commercial real estate: other construction & land development $ 966,695 $ 687,012 $ 324,238 $ 96,400 $ 14,058 $ 3,219 $ 2,091,622 Commercial real estate: farmland & commercial Pass $ 888,878 $ 628,653 $ 415,458 $ 267,705 $ 184,164 $ 248,626 $ 2,633,484 Special Review 5,205 — 3,357 — — — 8,562 Watch List - Pass 16,654 87 233 — — — 16,974 Watch List - Substandard 129,644 2,201 — 2,304 84 1 134,234 Watch List - Doubtful 211 88 — — — — 299 Total Commercial real estate: farmland & commercial $ 1,040,592 $ 631,029 $ 419,048 $ 270,009 $ 184,248 $ 248,627 $ 2,793,553 Commercial real estate: multifamily Pass $ 123,523 $ 94,551 $ 42,081 $ 73,652 $ 10,743 $ 36,193 $ 380,743 Watch List - Doubtful — 96 — — — — 96 Total Commercial real estate: multifamily $ 123,523 $ 94,647 $ 42,081 $ 73,652 $ 10,743 $ 36,193 $ 380,839 Residential: first lien Pass $ 180,127 $ 83,568 $ 68,082 $ 39,935 $ 27,499 $ 78,306 $ 477,517 Watch List - Substandard — — 327 — — 95 422 Watch List - Doubtful — 93 — — — — 93 Total Residential: first lien $ 180,127 $ 83,661 $ 68,409 $ 39,935 $ 27,499 $ 78,401 $ 478,032 Residential: first lien Current-period gross writeoffs $ — $ — $ — $ — $ — $ 43 $ 43 Residential: junior lien Pass $ 88,628 $ 76,845 $ 96,411 $ 76,490 $ 34,870 $ 87,625 $ 460,869 Total Residential: junior lien $ 88,628 $ 76,845 $ 96,411 $ 76,490 $ 34,870 $ 87,625 $ 460,869 Residential: junior lien Current-period gross writeoffs $ $ $ $ $ $ 298 $ 298 Consumer Pass $ 36,639 $ 5,366 $ 1,043 $ 237 $ 157 $ 1,679 $ 45,121 Total Consumer $ 36,639 $ 5,366 $ 1,043 $ 237 $ 157 $ 1,679 $ 45,121 Consumer Current-period gross writeoffs $ 54 $ 115 $ 9 $ — $ 1 $ — $ 179 Foreign Pass $ 116,104 $ 43,842 $ 12,317 $ 2,016 $ 2,797 $ 3,619 $ 180,695 Total Foreign $ 116,104 $ 43,842 $ 12,317 $ 2,016 $ 2,797 $ 3,619 $ 180,695 Total Loans $ 3,364,226 $ 1,928,023 $ 1,328,045

Stock Options

Stock Options	6 Months Ended
Stock Options	Jun. 30, 2024
Stock Options
Stock Options	Note 5 — Stock Options On April 5, 2012, our Board of Directors (the “Board”) adopted the 2012 International Bancshares Corporation Stock Option Plan (the “2012 Plan”). There were 800,000 shares of common stock available for stock option grants under the 2012 Plan, which were 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 . On April 4, 2022, the 2012 Plan expired and was not renewed. A summary of option activity under the 2012 Plan for the six months ended June 30, 2024 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, 2023 383,865 $ 30.65 Plus: Options granted — — Less: Options exercised (113,402) 23.37 Options expired — — Options forfeited (20,937) 23.27 Options outstanding at June 30, 2024 249,526 34.57 4.31 $ 5,650 Options fully vested and exercisable at June 30, 2024 151,083 $ 34.58 3.42 $ 3,419 Stock-based compensation expense included in the consolidated statements of income for the three and six months ended June 30, 2024 was $48,000 and $122,000, respectively. Stock-based compensation expense included in the consolidated statements of income for the three and six months ended June 30, 2023 was $77,000 and $179,000, respectively. As of June 30, 2024, there was approximately $310,000 of total unrecognized stock-based compensation cost related to non-vested options granted under our plans that will be recognized over a weighted average period of 1.4 years. On April 18, 2022, the Board adopted the 2022 International Bancshares Corporation Stock Appreciation Rights Plan (the “SAR Plan”). There are 750,000 shares of underlying common stock that may be used for stock appreciation right (“SAR”) grants under the SAR Plan, however, no actual shares will be granted. Upon exercise, the SAR will be settled in cash. SARs granted may be exercisable for a period of up to 10 years from the date of grant and may vest over an eight-year period. As of June 30, 2024, a total of 461,750 SARs had been issued under the SAR Plan. A summary of activity under the SAR Plan for the six months ended June 30, 2024 is as follows: Weighted Weighted average Number of average remaining Aggregate stock appreciation exercise contractual intrinsic rights price term (years) value ($) (in Thousands) SARs outstanding at December 31, 2023 465,250 $ 39.35 Plus: SARs granted 8,000 53.91 Less: SARs exercised — — SARs expired — — SARs forfeited (11,500) 39.33 SARs outstanding at June 30, 2024 461,750 39.60 8.04 8,130 SARs fully vested and exercisable at June 30, 2024 — $ — The fair value of the liability for payments due to SAR holders at June 30, 2024 and December 31, 2023 is approximately $2,888,000 and $1,464,000, respectively, as calculated using a Black-Sholes-Merton pricing model, and is included in other liabilities on the consolidated statements of condition. The expense recorded in connection with all grants under the SAR Plan totaled $344,000 and $1,424,000 for the three and six months ended June 30, 2024, respectively. The expense recorded in connection with all grants under the SAR Plan totaled $264,000 and $430,000 for the three and six months ended June 30, 2023, respectively. As of June 30, 2024, there was approximately $7,311,000 in unrecognized liability related to non-vested SARs granted under the SAR Plan that will be recognized over a weighted average period of 8.0 years.

Investment Securities, Equity S

Investment Securities, Equity Securities with Readily Determinable Fair Values and Other Investments	6 Months Ended
	Jun. 30, 2024
Investment Securities, Equity Securities with Readily Determinable Fair Values and Other Investments
Investment Securities, Equity Securities with Readily Determinable Fair Values and Other Investments	Note 6 — Investment Securities, Equity Securities with Readily Determinable Fair Values and Other Investments 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. Available-for-sale and held-to-maturity debt securities in an unrealized loss position are 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 will be recorded as a charge to our ACL with subsequent changes in the amount of impairment, up or down, also recorded through our ACL. We have evaluated the debt securities classified as available-for-sale and held-to-maturity at June 30, 2024 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 June 30, 2024 are as follows: Held to Maturity Gross Gross Amortized unrealized unrealized Estimated Carrying cost gains losses fair value value (Dollars in Thousands) Other securities $ 4,400 $ — $ — $ 4,400 $ 4,400 Total investment securities $ 4,400 $ — $ — $ 4,400 $ 4,400 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 $ 5,251,514 $ 3,296 $ (542,387) $ 4,712,423 $ 4,712,423 Obligations of states and political subdivisions 159,058 575 (3,029) 156,604 156,604 Total investment securities $ 5,410,572 $ 3,871 $ (545,416) $ 4,869,027 $ 4,869,027 (1) Included in the carrying value of residential mortgage-backed securities are $895,457 of mortgage-backed securities issued by Ginnie Mae and $3,816,966 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, 2023 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 Gross Gross Estimated Amortized unrealized unrealized fair Carrying cost gains losses value value (1) (Dollars in Thousands) Residential mortgage-backed securities $ 5,169,813 $ 9,541 $ (519,255) 4,660,099 4,660,099 Obligations of states and political subdivisions 161,001 1,602 (361) 162,242 162,242 Total investment securities $ 5,330,814 $ 11,143 $ (519,616) $ 4,822,341 $ 4,822,341 (1) Included in the carrying value of residential mortgage-backed securities are $959,421 of mortgage-backed securities issued by Ginnie Mae and $3,700,678 of mortgage-backed securities issued by Fannie Mae and Freddie Mac. The amortized cost and estimated fair value of investment securities at June 30, 2024, 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 3,200 3,200 — — Due after five years through ten years — — 1,450 1,441 Due after ten years — — 157,608 155,163 Residential mortgage-backed securities — — 5,251,514 4,712,423 Total investment securities $ 4,400 $ 4,400 $ 5,410,572 $ 4,869,027 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 $2,001,561,000 and $1,734,388,000, respectively, at June 30, 2024. Proceeds from the sales and calls of available-for-sale debt securities were $0 and $1,720,000 for the three and six months ended June 30, 2024, respectively, which included $0 and $0 of mortgage-backed securities, respectively. Gross gains of $0 and $0 and gross losses of $0 and $0 were realized on the sales and calls for the three and six months ended June 30, 2024, respectively. Proceeds from the sales and calls of available-for-sale debt securities were securities, respectively. Gross gains of Equity securities with readily determinable fair values consist primarily of Community Reinvestment Act funds. At June 30, 2024 and December 31, 2023, the balance in equity securities with readily determinable fair values recorded at fair value were , respectively. The following is a summary of unrealized and realized gains and losses recognized in net income on equity securities during the three and six months ended June 30, 2024 and the three and six months ended June 30, 2023: Three Months Ended June 30, 2024 (Dollars in Thousands) Net losses recognized during the period on equity securities $ (23) 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 $ (23) Three Months Ended June 30, 2023 (Dollars in Thousands) Net losses recognized during the period on equity securities $ (92) 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 $ (92) Six Months Ended June 30, 2024 (Dollars in Thousands) Net losses recognized during the period on equity securities $ (80) 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 $ (80) Six Months Ended June 30, 2023 (Dollars in Thousands) Net losses recognized during the period on equity securities $ (58) 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 $ (58) Other investments include equity and merchant banking investments held by our Subsidiary Banks and non-banking subsidiary entities. We hold ownership interests in limited partnerships for the purpose of investing in low-income housing tax credit (“LIHTC”) projects. The partnerships may acquire, construct or rehabilitate housing for low- and moderate-income individuals. We realize a return primarily from federal tax credits and other federal tax deductions associated with the underlying LIHTC projects. We are a limited partner in the partnerships and are not required to consolidate the entities in our consolidated financial statements. Investments in LIHTC projects totaled and December 31, 2023, respectively, and are included in other investments on the consolidated financial statements. Unfunded commitments to LIHTC projects totaled at December 31, 2023 and are included in other liabilities on the consolidated financial statements. Tax credits and other tax benefits, as well as amortization expense associated with investments in qualified low-income housing partnerships are accounted for using the proportional amortization method of accounting. There was a total of in estimated amortization related to these investments for the six months ended June 30, 2024. There were

Other Borrowed Funds

Other Borrowed Funds	6 Months Ended
Other Borrowed Funds	Jun. 30, 2024
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 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 June 30, 2024, other borrowed funds totaled

Junior Subordinated Interest De

Junior Subordinated Interest Deferrable Debentures	6 Months Ended
Junior Subordinated Interest Deferrable Debentures	Jun. 30, 2024
Junior Subordinated Interest Deferrable Debentures
Junior Subordinated Interest Deferrable Debentures	Note 8 — Junior Subordinated Interest Deferrable Debentures As of June 30, 2024, we had four statutory business trusts under the laws of the State of Delaware (the “Trusts”), for the purpose of issuing trust preferred securities. The four Trusts each issued capital and common securities (“Capital and Common Securities”) and invested the proceeds thereof in an equivalent amount of junior subordinated debentures (“Debentures”) that we issued. As of June 30, 2024 and December 31, 2023, the principal amount of Debentures outstanding totaled $108,868,000, respectively. 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 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 June 30, 2024 and December 31, 2023, the total $108,868,000, respectively, of the Capital and Common Securities outstanding qualified as Tier 1 capital. The following table illustrates key information about each of the Capital and Common Securities and their interest rate at June 30, 2024: Junior Subordinated Deferrable Interest Repricing Interest Interest Optional Debentures Frequency Rate Rate Index (1) Maturity Date Redemption Date (2) (Dollars in Thousands) Trust IX $ 41,238 Quarterly 7.18 % SOFR + 1.62 October 2036 October 2011 Trust X 21,021 Quarterly 7.24 % SOFR + 1.65 February 2037 February 2012 Trust XI 25,990 Quarterly 7.18 % SOFR + 1.62 July 2037 July 2012 Trust XII 20,619 Quarterly 7.06 % SOFR + 1.45 September 2037 September 2012 $ 108,868 (1) (2) The Capital and Common Securities may be redeemed in whole or in part on any interest payment date after the Optional Redemption Date (as defined in the respective Indenture).

Common Stock and Dividends

Common Stock and Dividends	6 Months Ended
Common Stock and Dividends	Jun. 30, 2024
Common Stock and Dividends
Common Stock and Dividends	Note 9 — Common Stock and Dividends We paid cash dividends of $0.66 per share on February 28, 2024 and $0.63 per share on February 28, 2023, respectively, to record holders of our common stock on February 15, 2024 and February 15, 2023 , respectively. In April 2009, the Board 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 February 20, 2024, the Board extended and increased the repurchase program to purchase up to $150 million of common stock during the 12-month period commencing on March 15, 2024. 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 second quarter of 2024, the Board adopted a Rule 10b-18 trading plan and a Rule 10b5-1 trading plan and intends to adopt additional Rule 10b-18 and Rule 10b5-1 trading plans, which will allow us to purchase shares of our common stock during certain open and blackout periods when we ordinarily would not be in the market due to trading restrictions in our insider trading policy. During the terms of both a Rule 10b-18 and 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 these trading plans will be held in treasury for reissue for various corporate purposes, including employee stock compensation plans. As of July 29, 2024, a total of 13,708,433 shares had been repurchased under all programs at a cost of $415,051,000. We are not obligated to purchase shares under our stock repurchase program outside of the Rule 10b-18 and Rule 10b5-1trading plans.

Commitments and Contingent Liab

Commitments and Contingent Liabilities	6 Months Ended
Commitments and Contingent Liabilities	Jun. 30, 2024
Commitments and Contingent Liabilities
Commitments and Contingent Liabilities	Note 10 — Commitments and Contingent Liabilities We are involved in various legal proceedings that are in various stages of litigation. We have determined, based on discussions with our 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	6 Months Ended
Capital Ratios	Jun. 30, 2024
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. In July 2013, the Federal Reserve Board (“FRB”) and the Federal Deposit Insurance Corporation (“FDIC”) established a new, comprehensive capital framework for U.S. banking organizations known as “Basel III,” consisting of minimum requirements that increase both the quantity and quality of capital held by banking organizations. The final rules are a result of the implementation of the Basel III capital reforms and various related capital provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”), which require bank holding companies and their subsidiary banks to maintain substantially more capital, with greater emphasis on common equity. The Basel III final capital framework requires a minimum ratio of Common Equity Tier 1 capital (“CET1”) to risk-weighted assets of 4.5% and a CET1 capital conservation buffer of 2.5% of risk-weighted assets, effectively resulting in a minimum ratio of CET1 capital to risk-weighted assets of at least 7% upon full implementation. The capital conservation buffer is designed to absorb losses during periods of economic stress. Banking institutions with a ratio of CET1 capital to risk-weighted assets above the minimum requirement, but below the conservation buffer, will face constraints on dividends, equity repurchases, and compensation based on the amount of the shortfall and the institution’s “eligible retained income” (meaning, four-quarter trailing income, net of distributions and tax effects not reflected in net income). The rules also raised the minimum ratio of Tier 1 capital to risk-weighted assets from 4% to 6% and include a minimum leverage ratio of 4% for all banking organizations. Regarding the quality of capital, the rules emphasize CET1 capital and implements strict eligibility criteria for regulatory capital instruments. The rules also improve the methodologies for calculating risk-weighted assets to enhance risk sensitivity. We believe that as of June 30, 2024, we continue to meet all fully phased-in capital adequacy requirements. In November 2017, the Office of the Comptroller of the Currency, the FRB 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 paused 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 the FASB’s Current Expected Credit Loss (“CECL”) methodology (the FASB Standard relating to current expected credit loss) and its potential impact on regulatory capital. Pursuant to the rules issued by the federal bank regulatory agencies in February 2019 and March 2020, banking organizations were given options to phase in the adoption of CECL over a three-year transition period through December 31, 2022 or over a five-year transition period through December 31, 2024. Rather than electing to make one of the phase-in options, we immediately recognized the capital impact upon adopting CECL accounting standards on January 1, 2020, which resulted in an increase in our ACL and a one-time cumulative-effect adjustment to retained earnings upon adjustment. In December 2017, the Basel Committee on Banking Supervision unveiled its final set of standards and reforms to its Basel III regulatory capital framework, commonly called “Basel III Endgame” or “Basel IV.” The Basel IV framework makes changes to the capital framework first introduced as “Basel III” in 2010 and aims to reduce excessive variability in banks’ calculations of risk-weighted capital ratios. Implementation of Basel IV began on January 1, 2023 and will continue over a five-year transition period by regulators in individual countries, including the U.S. federal bank regulatory agencies (after notice and comment). In May 2018, the Economic Growth, Regulatory Relief and Consumer Protection Act of 2018 (“EGRRCPA”) was enacted, which, among other things, includes a simplified capital rule change that 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 FRB’s Small Bank Holding Company and Savings and Loan Holding Company Policy Statement (the “Small BHC Policy Statement”), which eases limitations on the issuance of debt by holding companies. In August 2018, the FRB issued an interim final rule expanding the applicability of its Small BHC Policy Statement. While holding companies that meet the conditions of the Small BHC 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 Basel III’s risk-based capital rules (e.g., the required assignment of a 150% risk weight to certain exposures), certain commercial real estate loans that were formally classified as high volatility commercial real estate (“HVCRE”) will not be subject to heightened risk weights if they meet certain criteria. Also, while acquisition, development, and construction loans will generally be subject to heightened risk weights, certain exceptions will apply. In September 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 22.32% on June 30, 2024 and 21.72% on December 31, 2023. We had a Tier 1 capital-to-average-total-asset (leverage) ratio of at June 30, 2024 and December 31, 2023, 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 of Tier 1 capital on an aggregate basis. Any amount that exceeds the threshold qualifies as Tier 2 capital. As of June 30, 2024, the total of 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 June 30, 2024, that we and each of our Subsidiary Banks meet all capital adequacy requirements to which we are subject.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 96,980	$ 100,485	$ 194,311	$ 202,128

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
Fair Value Measurements (Tables)	Jun. 30, 2024
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 June 30, 2024 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 June 30, 2024 (Level 1) (Level 2) (Level 3) Measured on a recurring basis: Assets: Available for sale debt securities Residential mortgage-backed securities $ 4,712,423 $ — $ 4,712,423 $ — States and political subdivisions 156,604 — 156,604 — Equity Securities 5,337 5,337 — — $ 4,874,364 $ 5,337 $ 4,869,027 $ — 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, 2023 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, 2023 (Level 1) (Level 2) (Level 3) Measured on a recurring basis: Assets: Available for sale securities Residential mortgage-backed securities $ 4,660,099 $ — $ 4,660,099 $ — States and political subdivisions 162,242 — 162,242 — Equity Securities 5,417 5,417 — — $ 4,827,758 $ 5,417 $ 4,822,341 $ —
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 June 30, 2024 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 Period ended Identical Observable Unobservable Provision June 30, Assets Inputs Inputs During 2024 (Level 1) (Level 2) (Level 3) Period Measured on a non-recurring basis: Assets: Watch List—Doubtful loans $ 33,465 $ — $ — $ 33,465 $ 5,471 Other real estate owned 2,920 — — 2,920 16 The following table represents financial instruments measured at fair value on a non-recurring basis as of and for the period ended December 31, 2023 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 Year ended for Identical Observable Unobservable Provision December 31, Assets Inputs Inputs During 2023 (Level 1) (Level 2) (Level 3) Period Measured on a non-recurring basis: Assets: Watch List—Doubtful loans $ 46,124 $ — $ — $ 46,124 $ 10,221 Other real estate owned 307 — — 307 2,538

Loans (Tables)

Loans (Tables)	6 Months Ended
Loans (Tables)	Jun. 30, 2024
Loans
Summary of loans, by loan type	June 30, December 31, 2024 2023 (Dollars in Thousands) Commercial, financial and agricultural $ 4,769,703 $ 4,802,622 Real estate - mortgage 967,792 938,901 Real estate - construction 2,303,690 2,091,622 Consumer 46,954 45,121 Foreign 179,688 180,695 Total loans $ 8,267,827 $ 8,058,961

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	6 Months Ended
Allowance for Credit Losses (Tables)	Jun. 30, 2024
Allowance for Credit Losses
Loans individually or collectively evaluated for their impairment and related allowance, by loan class	Three Months Ended June 30, 2024 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 March 31, 2024 $ 26,676 $ 55,097 $ 39,402 $ 3,768 $ 5,757 $ 10,648 $ 313 $ 1,137 $ 142,798 Losses charged to allowance (1,979) (2,228) — — (1) — (52) — (4,260) Recoveries credited to allowance 1,234 — 6 — 34 26 — — 1,300 Net (losses) recoveries charged to allowance (745) (2,228) 6 — 33 26 (52) — (2,960) Credit loss expense 1,324 1,971 5,480 (240) 16 (35) 53 202 8,771 Balance at June 30, 2024 $ 27,255 $ 54,840 $ 44,888 $ 3,528 $ 5,806 $ 10,639 $ 314 $ 1,339 $ 148,609 Three Months Ended June 30, 2023 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 March 31, 2023 $ 27,788 $ 50,933 $ 36,556 $ 3,984 $ 4,559 $ 8,357 $ 291 $ 1,089 $ 133,557 Losses charged to allowance (2,792) — — — — (164) (26) — (2,982) Recoveries credited to allowance 556 526 6 — 1 15 8 — 1,112 Net (losses) recoveries charged to allowance (2,236) 526 6 — 1 (149) (18) — (1,870) Credit loss expense 2,093 1,605 2,126 122 532 2,234 13 91 8,816 Balance at June 30, 2023 $ 27,645 $ 53,064 $ 38,688 $ 4,106 $ 5,092 $ 10,442 $ 286 $ 1,180 $ 140,503 Six Months Ended June 30, 2024 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, 2023 $ 35,550 $ 55,291 $ 42,703 $ 5,088 $ 5,812 $ 11,024 $ 318 $ 1,283 $ 157,069 Losses charged to allowance (29,720) (2,228) — — (46) — (90) — (32,084) Recoveries credited to allowance 1,789 — 10 — 36 35 5 — 1,875 Net (losses) recoveries charged to allowance (27,931) (2,228) 10 — (10) 35 (85) — (30,209) Credit loss expense 19,636 1,777 2,175 (1,560) 4 (420) 81 56 21,749 Balance at June 30, 2024 $ 27,255 $ 54,840 $ 44,888 $ 3,528 $ 5,806 $ 10,639 $ 314 $ 1,339 $ 148,609 Six Months Ended June 30, 2023 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, 2022 $ 26,728 $ 44,684 $ 36,474 $ 3,794 $ 4,759 $ 8,284 $ 281 $ 968 $ 125,972 Losses charged to allowance (4,763) — — — — (165) (87) — (5,015) Recoveries credited to allowance 1,181 837 11 — 8 92 14 — 2,143 Net (losses) recoveries charged to allowance (3,582) 837 11 — 8 (73) (73) — (2,872) Credit loss expense 4,499 7,543 2,203 312 325 2,231 78 212 17,403 Balance at June 30, 2023 $ 27,645 $ 53,064 $ 38,688 $ 4,106 $ 5,092 $ 10,442 $ 286 $ 1,180 $ 140,503 June 30, 2024 Loans Individually Loans Collectively Evaluated For Evaluated For Impairment Impairment Recorded Recorded Investment Allowance Investment Allowance (Dollars in Thousands) Domestic Commercial $ 1,377 $ 400 $ 1,583,800 $ 26,855 Commercial real estate: other construction & land development 10,029 3,500 2,293,661 51,340 Commercial real estate: farmland & commercial 51,915 5,541 2,815,477 39,347 Commercial real estate: multifamily 38,645 — 278,489 3,528 Residential: first lien 55 — 498,595 5,806 Residential: junior lien — — 469,142 10,639 Consumer — — 46,954 314 Foreign — — 179,688 1,339 Total $ 102,021 $ 9,441 $ 8,165,806 $ 139,168 December 31, 2023 Loans Individually Loans Collectively Evaluated For Evaluated For Impairment Impairment Recorded Recorded Investment Allowance Investment Allowance (Dollars in Thousands) Domestic Commercial $ 30,872 $ 7,971 $ 1,597,358 $ 27,579 Commercial real estate: other construction & land development 15,701 4,320 2,075,921 50,971 Commercial real estate: farmland & commercial 299 — 2,793,254 42,703 Commercial real estate: multifamily 96 — 380,743 5,088 Residential: first lien 93 — 477,940 5,812 Residential: junior lien — — 460,868 11,024 Consumer — — 45,121 318 Foreign — — 180,695 1,283 Total $ 47,061 $ 12,291 $ 8,011,900 $ 144,778
Loans accounted on non-accrual basis, by loan class	June 30, 2024 December 31, 2023 (Dollars in Thousands) Domestic Commercial $ 1,377 $ 30,872 Commercial real estate: other construction & land development 10,029 15,701 Commercial real estate: farmland & commercial 51,915 299 Commercial real estate: multifamily 38,645 96 Residential: first lien 173 202 Total non-accrual loans $ 102,139 $ 47,170
Information regarding the aging of past due loans, by loan class	June 30, 2024 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 $ 4,558 $ 1,892 $ 1,713 $ 639 $ 8,163 $ 1,577,014 $ 1,585,177 Commercial real estate: other construction & land development 24,807 7 9,952 — 34,766 2,268,924 2,303,690 Commercial real estate: farmland & commercial 5,474 54 168 168 5,696 2,861,696 2,867,392 Commercial real estate: multifamily 13,672 — 25,534 470 39,206 277,928 317,134 Residential: first lien 4,082 1,012 2,643 2,556 7,737 490,913 498,650 Residential: junior lien 1,557 880 1,828 1,828 4,265 464,877 469,142 Consumer 94 32 25 25 151 46,803 46,954 Foreign 3,379 106 — — 3,485 176,203 179,688 Total past due loans $ 57,623 $ 3,983 $ 41,863 $ 5,686 $ 103,469 $ 8,164,358 $ 8,267,827 December 31, 2023 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 $ 2,387 $ 1,583 $ 30,238 $ 539 $ 34,208 $ 1,594,022 $ 1,628,230 Commercial real estate: other construction & land development 3,460 — 10,245 — 13,705 2,077,917 2,091,622 Commercial real estate: farmland & commercial 1,424 371 93 4 1,888 2,791,665 2,793,553 Commercial real estate: multifamily 369 330 — — 699 380,140 380,839 Residential: first lien 1,812 1,439 2,545 2,437 5,796 472,236 478,032 Residential: junior lien 1,273 613 1,701 1,701 3,587 457,282 460,869 Consumer 263 11 27 27 301 44,820 45,121 Foreign 1,884 848 889 889 3,621 177,074 180,695 Total past due loans $ 12,872 $ 5,195 $ 45,738 $ 5,597 $ 63,805 $ 7,995,156 $ 8,058,961
Summary of the loan portfolio by credit quality indicator, by loan class	2024 2023 2022 2021 2020 Prior Total (Dollars in Thousands) Balance at June 30, 2024 Domestic Commercial Pass $ 428,054 $ 559,120 $ 152,661 $ 290,204 $ 42,125 $ 96,681 $ 1,568,845 Special Review — 1,872 — 138 — — 2,010 Watch List - Pass — 11,760 — — — — 11,760 Watch List - Substandard 183 947 35 19 — 1 1,185 Watch List - Doubtful 78 308 991 — — — 1,377 Total Commercial $ 428,315 $ 574,007 $ 153,687 $ 290,361 $ 42,125 $ 96,682 $ 1,585,177 Commercial Current-period gross writeoffs $ 1,768 $ 2,288 $ 25,620 $ 27 $ 14 $ 3 $ 29,720 Commercial real estate: other construction & land development Pass $ 512,208 $ 916,247 $ 506,150 $ 276,944 $ 44,154 $ 10,949 $ 2,266,652 Special Review — 17,370 — — — — 17,370 Watch List - Substandard 178 9,460 — — — — 9,638 Watch List - Doubtful 78 — 9,952 — — — 10,030 Total Commercial real estate: other construction & land development $ 512,464 $ 943,077 $ 516,102 $ 276,944 $ 44,154 $ 10,949 $ 2,303,690 Commercial real estate: other construction & land development Current-period gross writeoffs $ — $ 1,146 $ 1,082 $ — $ — $ — $ 2,228 Commercial real estate: farmland & commercial Pass $ 443,421 $ 734,880 $ 579,702 $ 361,011 $ 253,124 $ 344,498 $ 2,716,636 Special Review 693 68,156 — — — — 68,849 Watch List - Pass 16,504 — — 220 — — 16,724 Watch List - Substandard — 8,781 2,170 — 2,277 40 13,268 Watch List - Doubtful 51,915 — — — — — 51,915 Total Commercial real estate: farmland & commercial $ 512,533 $ 811,817 $ 581,872 $ 361,231 $ 255,401 $ 344,538 $ 2,867,392 Commercial real estate: multifamily Pass $ 53,481 $ 17,385 $ 90,883 $ 22,517 $ 60,011 $ 34,212 $ 278,489 Watch List - Doubtful 13,500 25,064 81 — — — 38,645 Total Commercial real estate: multifamily $ 66,981 $ 42,449 $ 90,964 $ 22,517 $ 60,011 $ 34,212 $ 317,134 Residential: first lien Pass $ 122,822 $ 113,107 $ 85,626 $ 60,962 $ 31,390 $ 84,279 $ 498,186 Watch List - Substandard 97 — — 312 — — 409 Watch List - Doubtful — — 55 — — — 55 Total Residential: first lien $ 122,919 $ 113,107 $ 85,681 $ 61,274 $ 31,390 $ 84,279 $ 498,650 Residential: first lien Current-period gross writeoffs $ — $ — $ — $ — $ — $ 46 $ 46 Residential: junior lien Pass $ 45,871 $ 80,297 $ 69,827 $ 90,926 $ 71,044 $ 111,177 $ 469,142 Total Residential: junior lien $ 45,871 $ 80,297 $ 69,827 $ 90,926 $ 71,044 $ 111,177 $ 469,142 Consumer Pass $ 23,740 $ 18,735 $ 2,218 $ 642 $ 87 $ 1,532 $ 46,954 Total Consumer $ 23,740 $ 18,735 $ 2,218 $ 642 $ 87 $ 1,532 $ 46,954 Consumer Current-period gross writeoffs $ 4 $ 66 $ 19 $ — $ — $ 1 $ 90 Foreign Pass $ 83,144 $ 57,860 $ 21,027 $ 10,745 $ 1,641 $ 5,271 $ 179,688 Total Foreign $ 83,144 $ 57,860 $ 21,027 $ 10,745 $ 1,641 $ 5,271 $ 179,688 Foreign Current-period gross writeoffs $ — $ — $ — $ — $ — $ — $ — Total Loans $ 1,795,967 $ 2,641,349 $ 1,521,378 $ 1,114,640 $ 505,853 $ 688,640 $ 8,267,827 2023 2022 2021 2020 2019 Prior Total (Dollars in Thousands) Balance at December 31, 2023 Domestic Commercial Pass $ 791,233 $ 272,919 $ 364,271 $ 50,602 $ 21,468 $ 74,119 $ 1,574,612 Special Review 7,613 1,800 164 — — — 9,577 Watch List - Pass 11,865 — — — — — 11,865 Watch List - Substandard 1,180 92 28 — — 4 1,304 Watch List - Doubtful 27 30,810 35 — — — 30,872 Total Commercial $ 811,918 $ 305,621 $ 364,498 $ 50,602 $ 21,468 $ 74,123 $ 1,628,230 Commercial Current-period gross writeoffs $ 7,053 $ 2,187 $ 155 $ 264 $ 2 $ 3 $ 9,664 Commercial real estate: other construction & land development Pass $ 938,739 $ 674,037 $ 324,238 $ 96,400 $ 14,058 $ 3,219 $ 2,050,691 Watch List - Substandard 25,230 — — — — — 25,230 Watch List - Doubtful 2,726 12,975 — — — — 15,701 Total Commercial real estate: other construction & land development $ 966,695 $ 687,012 $ 324,238 $ 96,400 $ 14,058 $ 3,219 $ 2,091,622 Commercial real estate: farmland & commercial Pass $ 888,878 $ 628,653 $ 415,458 $ 267,705 $ 184,164 $ 248,626 $ 2,633,484 Special Review 5,205 — 3,357 — — — 8,562 Watch List - Pass 16,654 87 233 — — — 16,974 Watch List - Substandard 129,644 2,201 — 2,304 84 1 134,234 Watch List - Doubtful 211 88 — — — — 299 Total Commercial real estate: farmland & commercial $ 1,040,592 $ 631,029 $ 419,048 $ 270,009 $ 184,248 $ 248,627 $ 2,793,553 Commercial real estate: multifamily Pass $ 123,523 $ 94,551 $ 42,081 $ 73,652 $ 10,743 $ 36,193 $ 380,743 Watch List - Doubtful — 96 — — — — 96 Total Commercial real estate: multifamily $ 123,523 $ 94,647 $ 42,081 $ 73,652 $ 10,743 $ 36,193 $ 380,839 Residential: first lien Pass $ 180,127 $ 83,568 $ 68,082 $ 39,935 $ 27,499 $ 78,306 $ 477,517 Watch List - Substandard — — 327 — — 95 422 Watch List - Doubtful — 93 — — — — 93 Total Residential: first lien $ 180,127 $ 83,661 $ 68,409 $ 39,935 $ 27,499 $ 78,401 $ 478,032 Residential: first lien Current-period gross writeoffs $ — $ — $ — $ — $ — $ 43 $ 43 Residential: junior lien Pass $ 88,628 $ 76,845 $ 96,411 $ 76,490 $ 34,870 $ 87,625 $ 460,869 Total Residential: junior lien $ 88,628 $ 76,845 $ 96,411 $ 76,490 $ 34,870 $ 87,625 $ 460,869 Residential: junior lien Current-period gross writeoffs $ $ $ $ $ $ 298 $ 298 Consumer Pass $ 36,639 $ 5,366 $ 1,043 $ 237 $ 157 $ 1,679 $ 45,121 Total Consumer $ 36,639 $ 5,366 $ 1,043 $ 237 $ 157 $ 1,679 $ 45,121 Consumer Current-period gross writeoffs $ 54 $ 115 $ 9 $ — $ 1 $ — $ 179 Foreign Pass $ 116,104 $ 43,842 $ 12,317 $ 2,016 $ 2,797 $ 3,619 $ 180,695 Total Foreign $ 116,104 $ 43,842 $ 12,317 $ 2,016 $ 2,797 $ 3,619 $ 180,695 Total Loans $ 3,364,226 $ 1,928,023 $ 1,328,045 $ 609,341 $ 295,840 $ 533,486 $ 8,058,961

Stock Options (Tables)

Stock Options (Tables)	6 Months Ended
Stock Options (Tables)	Jun. 30, 2024
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, 2023 383,865 $ 30.65 Plus: Options granted — — Less: Options exercised (113,402) 23.37 Options expired — — Options forfeited (20,937) 23.27 Options outstanding at June 30, 2024 249,526 34.57 4.31 $ 5,650 Options fully vested and exercisable at June 30, 2024 151,083 $ 34.58 3.42 $ 3,419
Summary of activity under the SAR Plan	Weighted Weighted average Number of average remaining Aggregate stock appreciation exercise contractual intrinsic rights price term (years) value ($) (in Thousands) SARs outstanding at December 31, 2023 465,250 $ 39.35 Plus: SARs granted 8,000 53.91 Less: SARs exercised — — SARs expired — — SARs forfeited (11,500) 39.33 SARs outstanding at June 30, 2024 461,750 39.60 8.04 8,130 SARs fully vested and exercisable at June 30, 2024 — $ —

Investment Securities, Equity_2

Investment Securities, Equity Securities with Readily Determinable Fair Values and Other Investments (Tables)	6 Months Ended
	Jun. 30, 2024
Investment Securities, Equity Securities with Readily Determinable Fair Values and Other Investments
Amortized cost and estimated fair value by type of investment security	The amortized cost and estimated fair value by type of investment security at June 30, 2024 are as follows: Held to Maturity Gross Gross Amortized unrealized unrealized Estimated Carrying cost gains losses fair value value (Dollars in Thousands) Other securities $ 4,400 $ — $ — $ 4,400 $ 4,400 Total investment securities $ 4,400 $ — $ — $ 4,400 $ 4,400 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 $ 5,251,514 $ 3,296 $ (542,387) $ 4,712,423 $ 4,712,423 Obligations of states and political subdivisions 159,058 575 (3,029) 156,604 156,604 Total investment securities $ 5,410,572 $ 3,871 $ (545,416) $ 4,869,027 $ 4,869,027 (1) Included in the carrying value of residential mortgage-backed securities are $895,457 of mortgage-backed securities issued by Ginnie Mae and $3,816,966 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, 2023 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 Gross Gross Estimated Amortized unrealized unrealized fair Carrying cost gains losses value value (1) (Dollars in Thousands) Residential mortgage-backed securities $ 5,169,813 $ 9,541 $ (519,255) 4,660,099 4,660,099 Obligations of states and political subdivisions 161,001 1,602 (361) 162,242 162,242 Total investment securities $ 5,330,814 $ 11,143 $ (519,616) $ 4,822,341 $ 4,822,341 (1) Included in the carrying value of residential mortgage-backed securities are $959,421 of mortgage-backed securities issued by Ginnie Mae and $3,700,678 of mortgage-backed securities issued by Fannie Mae and Freddie Mac.
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 3,200 3,200 — — Due after five years through ten years — — 1,450 1,441 Due after ten years — — 157,608 155,163 Residential mortgage-backed securities — — 5,251,514 4,712,423 Total investment securities $ 4,400 $ 4,400 $ 5,410,572 $ 4,869,027
Summary of unrealized and realized gains and losses recognized in net income on equity securities	Three Months Ended June 30, 2024 (Dollars in Thousands) Net losses recognized during the period on equity securities $ (23) 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 $ (23) Three Months Ended June 30, 2023 (Dollars in Thousands) Net losses recognized during the period on equity securities $ (92) 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 $ (92) Six Months Ended June 30, 2024 (Dollars in Thousands) Net losses recognized during the period on equity securities $ (80) 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 $ (80) Six Months Ended June 30, 2023 (Dollars in Thousands) Net losses recognized during the period on equity securities $ (58) 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 $ (58)

Junior Subordinated Interest _2

Junior Subordinated Interest Deferrable Debentures (Tables)	6 Months Ended
Junior Subordinated Interest Deferrable Debentures (Tables)	Jun. 30, 2024
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 (2) (Dollars in Thousands) Trust IX $ 41,238 Quarterly 7.18 % SOFR + 1.62 October 2036 October 2011 Trust X 21,021 Quarterly 7.24 % SOFR + 1.65 February 2037 February 2012 Trust XI 25,990 Quarterly 7.18 % SOFR + 1.62 July 2037 July 2012 Trust XII 20,619 Quarterly 7.06 % SOFR + 1.45 September 2037 September 2012 $ 108,868 (1) (2) The Capital and Common Securities may be redeemed in whole or in part on any interest payment date after the Optional Redemption Date (as defined in the respective Indenture).

Basis of Presentation (Details)

Basis of Presentation (Details)	6 Months Ended
Basis of Presentation (Details)	Jun. 30, 2024 segment subsidiary
Basis of Presentation
Number of operating segments \| segment	1
Number of active operating bank subsidiaries \| subsidiary	5

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value By Level (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Assets:
Available for sale debt securities	$ 4,869,027,000	$ 4,822,341,000
Equity Securities	5,337,000	5,417,000
Estimate of Fair Value Measurement
Assets:
Available for sale debt securities	4,869,027,000	4,822,341,000
Estimate of Fair Value Measurement \| Residential mortgage-backed securities
Assets:
Available for sale debt securities	4,712,423,000	4,660,099,000
Estimate of Fair Value Measurement \| States and political subdivisions
Assets:
Available for sale debt securities	156,604,000	162,242,000
Fair Value, Measurements, Recurring [Member] \| Estimate of Fair Value Measurement
Assets:
Equity Securities	5,337,000	5,417,000
Marketable Securities	4,874,364,000	4,827,758,000
Fair Value, Measurements, Recurring [Member] \| Estimate of Fair Value Measurement \| Residential mortgage-backed securities
Assets:
Available for sale debt securities	4,712,423,000	4,660,099,000
Fair Value, Measurements, Recurring [Member] \| Estimate of Fair Value Measurement \| States and political subdivisions
Assets:
Available for sale debt securities	156,604,000	162,242,000
Fair Value, Measurements, Recurring [Member] \| Estimate of Fair Value Measurement \| Fair Value, Inputs, Level 1
Assets:
Equity Securities	5,337,000	5,417,000
Marketable Securities	5,337,000	5,417,000
Fair Value, Measurements, Recurring [Member] \| Estimate of Fair Value Measurement \| Fair Value, Inputs, Level 2
Assets:
Marketable Securities	4,869,027,000	4,822,341,000
Fair Value, Measurements, Recurring [Member] \| Estimate of Fair Value Measurement \| Fair Value, Inputs, Level 2 \| Residential mortgage-backed securities
Assets:
Available for sale debt securities	4,712,423,000	4,660,099,000
Fair Value, Measurements, Recurring [Member] \| Estimate of Fair Value Measurement \| Fair Value, Inputs, Level 2 \| States and political subdivisions
Assets:
Available for sale debt securities	$ 156,604,000	$ 162,242,000

Fair Value Measurements - Fai_2

Fair Value Measurements - Fair Value Measurement and Assumptions (Details) - USD ($)	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Dec. 31, 2023
Assumptions used in discounted cash flow model to determine fair value of investments classified within level 3
Doubtful and Impaired commercial collateral dependent loans	$ 101,697,000	$ 101,697,000	$ 46,491,000
Impaired commercial collateral dependent receivables appraisals to determine fair value within immediately preceding twelve months	25,064,000	25,064,000	1,272,000
Impaired collateral dependent commercial loans with internal evaluation completed within last twelve months	488,000	488,000	35,061,000
Charges to allowance for probable loan losses in connection with other real estate owned	2,228,000	0	0
Adjustment to fair value in connection with other real estate owned	16,000	0	2,538,000
Fair Value, Measurements, Nonrecurring
Non-financial assets:
Other real estate owned	16,000	16,000
Assumptions used in discounted cash flow model to determine fair value of investments classified within level 3
Change in net provision, impaired loans	5,471,000	5,471,000	10,221,000
Change in net provision, other real estate owned			2,538,000
Fair Value, Measurements, Nonrecurring \| Estimated Fair Value
Assets:
Watch-List doubtful loans	33,465,000	33,465,000	46,124,000
Non-financial assets:
Other real estate owned	2,920,000	2,920,000	307,000
Fair Value, Measurements, Nonrecurring \| Estimated Fair Value \| Fair Value, Inputs, Level 3
Assets:
Watch-List doubtful loans	33,465,000	33,465,000	46,124,000
Non-financial assets:
Other real estate owned	$ 2,920,000	$ 2,920,000	$ 307,000

Fair Value Measurements - Other

Fair Value Measurements - Other Assumptions (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Deposits
Carrying amount of time deposits	$ 2,644,913,000	$ 2,425,177,000
Fair Value, Inputs, Level 3
Loans
Carrying amount of fixed rate performing loans	1,260,853,000	1,199,347,000
Estimated fair value of fixed rate performing loans	1,143,631,000	1,073,892,000
Deposits
Carrying amount of time deposits	2,644,913,000	2,425,177,000
Estimated fair value of time deposits	2,645,264,000	2,428,681,000
Fair Value, Inputs, Level 2
Other borrowed funds
Carrying amount of the long-term FHLB borrowings	10,644,000	10,745,000
Estimated fair value of long-term FHLB borrowings	$ 10,644,000	$ 10,745,000

Loans (Details)

Loans (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Summary of loans, by loan type
Total loans	$ 8,267,827	$ 8,058,961
Commercial, financial and agricultural
Summary of loans, by loan type
Total loans	4,769,703	4,802,622
Real estate - mortgage
Summary of loans, by loan type
Total loans	967,792	938,901
Real estate - construction
Summary of loans, by loan type
Total loans	2,303,690	2,091,622
Consumer
Summary of loans, by loan type
Total loans	46,954	45,121
Foreign.
Summary of loans, by loan type
Total loans	$ 179,688	$ 180,695

Allowance for Credit Losses - B

Allowance for Credit Losses - By Loan Class (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Balance at the beginning of the period	$ 142,798	$ 133,557	$ 157,069	$ 125,972	$ 125,972
Losses charged to allowance	(4,260)	(2,982)	(32,084)	(5,015)
Recoveries credited to allowance	1,300	1,112	1,875	2,143
Net losses charged to allowance	(2,960)	(1,870)	(30,209)	(2,872)
Provision (credit) charged to operations	8,771	8,816	21,749	17,403
Balance at the end of the period	148,609	140,503	148,609	140,503	157,069
Commercial, financial and agricultural \| Commercial.
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Charge-down due to customer filing bankruptcy			25,600
Impact on credit loss expense due to customer filing bankruptcy			4,300
Commercial, financial and agricultural \| Domestic \| Commercial.
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Balance at the beginning of the period	26,676	27,788	35,550	26,728	26,728
Losses charged to allowance	(1,979)	(2,792)	(29,720)	(4,763)	(9,664)
Recoveries credited to allowance	1,234	556	1,789	1,181
Net losses charged to allowance	(745)	(2,236)	(27,931)	(3,582)
Provision (credit) charged to operations	1,324	2,093	19,636	4,499
Balance at the end of the period	27,255	27,645	27,255	27,645	35,550
Commercial, financial and agricultural \| Domestic \| Commercial real estate: farmland & commercial
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Balance at the beginning of the period	39,402	36,556	42,703	36,474	36,474
Recoveries credited to allowance	6	6	10	11
Net losses charged to allowance	6	6	10	11
Provision (credit) charged to operations	5,480	2,126	2,175	2,203
Balance at the end of the period	44,888	38,688	44,888	38,688	42,703
Commercial, financial and agricultural \| Domestic \| Commercial real estate: multifamily
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Balance at the beginning of the period	3,768	3,984	5,088	3,794	3,794
Provision (credit) charged to operations	(240)	122	(1,560)	312
Balance at the end of the period	3,528	4,106	3,528	4,106	5,088
Obligations of states and political subdivisions \| Domestic \| Commercial Real Estate: other construction and land development
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Balance at the beginning of the period	55,097	50,933	55,291	44,684	44,684
Losses charged to allowance	(2,228)		(2,228)
Recoveries credited to allowance		526		837
Net losses charged to allowance	(2,228)	526	(2,228)	837
Provision (credit) charged to operations	1,971	1,605	1,777	7,543
Balance at the end of the period	54,840	53,064	54,840	53,064	55,291
Real estate - mortgage \| Domestic \| Residential: first lien
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Balance at the beginning of the period	5,757	4,559	5,812	4,759	4,759
Losses charged to allowance	(1)		(46)		(43)
Recoveries credited to allowance	34	1	36	8
Net losses charged to allowance	33	1	(10)	8
Provision (credit) charged to operations	16	532	4	325
Balance at the end of the period	5,806	5,092	5,806	5,092	5,812
Real estate - mortgage \| Domestic \| Residential Junior Lien
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Balance at the beginning of the period	10,648	8,357	11,024	8,284	8,284
Losses charged to allowance		(164)		(165)	(298)
Recoveries credited to allowance	26	15	35	92
Net losses charged to allowance	26	(149)	35	(73)
Provision (credit) charged to operations	(35)	2,234	(420)	2,231
Balance at the end of the period	10,639	10,442	10,639	10,442	11,024
Consumer \| Domestic
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Balance at the beginning of the period	313	291	318	281	281
Losses charged to allowance	(52)	(26)	(90)	(87)	(179)
Recoveries credited to allowance		8	5	14
Net losses charged to allowance	(52)	(18)	(85)	(73)
Provision (credit) charged to operations	53	13	81	78
Balance at the end of the period	314	286	314	286	318
Foreign. \| Foreign
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Balance at the beginning of the period	1,137	1,089	1,283	968	968
Provision (credit) charged to operations	202	91	56	212
Balance at the end of the period	$ 1,339	$ 1,180	$ 1,339	$ 1,180	$ 1,283

Allowance for Credit Losses - I

Allowance for Credit Losses - Impairment By Loan Class (Details) $ in Thousands	Jun. 30, 2024 USD ($) loan	Dec. 31, 2023 USD ($)
Loan loss allowances, impaired financing receivable, evaluated individually or collectively
Loans Individually Evaluated for Impairment, Recorded Investment	$ 102,021	$ 47,061
Loans Individually Evaluated for Impairment, Allowance	9,441	12,291
Loans Collectively Evaluated for Impairment, Recorded Investment	8,165,806	8,011,900
Loans Collectively Evaluated for Impairment, Allowance	$ 139,168	144,778
Commercial real estate: farmland & commercial
Loan loss allowances, impaired financing receivable, evaluated individually or collectively
Number of loans downgraded \| loan	1
Commercial real estate: multifamily
Loan loss allowances, impaired financing receivable, evaluated individually or collectively
Number of loans downgraded \| loan	2
Commercial, financial and agricultural \| Domestic \| Commercial.
Loan loss allowances, impaired financing receivable, evaluated individually or collectively
Loans Individually Evaluated for Impairment, Recorded Investment	$ 1,377	30,872
Loans Individually Evaluated for Impairment, Allowance	400	7,971
Loans Collectively Evaluated for Impairment, Recorded Investment	1,583,800	1,597,358
Loans Collectively Evaluated for Impairment, Allowance	26,855	27,579
Commercial, financial and agricultural \| Domestic \| Commercial real estate: farmland & commercial
Loan loss allowances, impaired financing receivable, evaluated individually or collectively
Loans Individually Evaluated for Impairment, Recorded Investment	51,915	299
Loans Individually Evaluated for Impairment, Allowance	5,541
Loans Collectively Evaluated for Impairment, Recorded Investment	2,815,477	2,793,254
Loans Collectively Evaluated for Impairment, Allowance	39,347	42,703
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	38,645	96
Loans Collectively Evaluated for Impairment, Recorded Investment	278,489	380,743
Loans Collectively Evaluated for Impairment, Allowance	3,528	5,088
Obligations of states and political subdivisions \| 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	10,029	15,701
Loans Individually Evaluated for Impairment, Allowance	3,500	4,320
Loans Collectively Evaluated for Impairment, Recorded Investment	2,293,661	2,075,921
Loans Collectively Evaluated for Impairment, Allowance	51,340	50,971
Real estate - mortgage \| Domestic \| Residential: first lien
Loan loss allowances, impaired financing receivable, evaluated individually or collectively
Loans Individually Evaluated for Impairment, Recorded Investment	55	93
Loans Collectively Evaluated for Impairment, Recorded Investment	498,595	477,940
Loans Collectively Evaluated for Impairment, Allowance	5,806	5,812
Real estate - mortgage \| Domestic \| Residential Junior Lien
Loan loss allowances, impaired financing receivable, evaluated individually or collectively
Loans Collectively Evaluated for Impairment, Recorded Investment	469,142	460,868
Loans Collectively Evaluated for Impairment, Allowance	10,639	11,024
Consumer \| Domestic
Loan loss allowances, impaired financing receivable, evaluated individually or collectively
Loans Collectively Evaluated for Impairment, Recorded Investment	46,954	45,121
Loans Collectively Evaluated for Impairment, Allowance	314	318
Foreign. \| Foreign
Loan loss allowances, impaired financing receivable, evaluated individually or collectively
Loans Collectively Evaluated for Impairment, Recorded Investment	179,688	180,695
Loans Collectively Evaluated for Impairment, Allowance	$ 1,339	$ 1,283

Allowance for Credit Losses - N

Allowance for Credit Losses - Non-accrual Basis By Loan Class (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Loan loss allowances, financing receivable past due
Non-accrual loans, total	$ 102,139	$ 47,170
Commercial, financial and agricultural \| Domestic \| Commercial.
Loan loss allowances, financing receivable past due
Non-accrual loans, total	1,377	30,872
Commercial, financial and agricultural \| Domestic \| Commercial real estate: farmland & commercial
Loan loss allowances, financing receivable past due
Non-accrual loans, total	51,915	299
Commercial, financial and agricultural \| Domestic \| Commercial real estate: multifamily
Loan loss allowances, financing receivable past due
Non-accrual loans, total	38,645	96
Obligations of states and political subdivisions \| Domestic \| Commercial Real Estate: other construction and land development
Loan loss allowances, financing receivable past due
Non-accrual loans, total	10,029	15,701
Real estate - mortgage \| Domestic \| Residential: first lien
Loan loss allowances, financing receivable past due
Non-accrual loans, total	$ 173	$ 202

Allowance for Credit Losses -_2

Allowance for Credit Losses - Impaired Loans (Details)	Jun. 30, 2024
Allowance for Credit Losses
Period of charge off for past due unsecured commercial loans	90 days

Allowance for Credit Losses - A

Allowance for Credit Losses - Aging By Loan Class (Details) $ in Thousands	Jun. 30, 2024 USD ($) loan	Dec. 31, 2023 USD ($)
Financing receivable recorded investment
Past due 90 days or Greater and Still Accruing	$ 5,686	$ 5,597
Loans	8,267,827	8,058,961
Current
Financing receivable recorded investment
Loans	8,164,358	7,995,156
Total Past Due
Financing receivable recorded investment
Loans	103,469	63,805
30 to 59 Days
Financing receivable recorded investment
Loans	57,623	12,872
60 to 89 Days
Financing receivable recorded investment
Loans	3,983	5,195
90 Days or Greater
Financing receivable recorded investment
Loans	$ 41,863	45,738
Commercial Real Estate: other construction and land development
Financing receivable recorded investment
Number of loans placed on non-accrual \| loan	3
Commercial real estate: multifamily
Financing receivable recorded investment
Number of loans placed on non-accrual \| loan	2
Commercial, financial and agricultural
Financing receivable recorded investment
Loans	$ 4,769,703	4,802,622
Commercial, financial and agricultural \| Domestic \| Commercial.
Financing receivable recorded investment
Past due 90 days or Greater and Still Accruing	639	539
Loans	1,585,177	1,628,230
Commercial, financial and agricultural \| Domestic \| Commercial. \| Current
Financing receivable recorded investment
Loans	1,577,014	1,594,022
Commercial, financial and agricultural \| Domestic \| Commercial. \| Total Past Due
Financing receivable recorded investment
Loans	8,163	34,208
Commercial, financial and agricultural \| Domestic \| Commercial. \| 30 to 59 Days
Financing receivable recorded investment
Loans	4,558	2,387
Commercial, financial and agricultural \| Domestic \| Commercial. \| 60 to 89 Days
Financing receivable recorded investment
Loans	1,892	1,583
Commercial, financial and agricultural \| Domestic \| Commercial. \| 90 Days or Greater
Financing receivable recorded investment
Loans	1,713	30,238
Commercial, financial and agricultural \| Domestic \| Commercial real estate: farmland & commercial
Financing receivable recorded investment
Past due 90 days or Greater and Still Accruing	168	4
Loans	2,867,392	2,793,553
Commercial, financial and agricultural \| Domestic \| Commercial real estate: farmland & commercial \| Current
Financing receivable recorded investment
Loans	2,861,696	2,791,665
Commercial, financial and agricultural \| Domestic \| Commercial real estate: farmland & commercial \| Total Past Due
Financing receivable recorded investment
Loans	5,696	1,888
Commercial, financial and agricultural \| Domestic \| Commercial real estate: farmland & commercial \| 30 to 59 Days
Financing receivable recorded investment
Loans	5,474	1,424
Commercial, financial and agricultural \| Domestic \| Commercial real estate: farmland & commercial \| 60 to 89 Days
Financing receivable recorded investment
Loans	54	371
Commercial, financial and agricultural \| Domestic \| Commercial real estate: farmland & commercial \| 90 Days or Greater
Financing receivable recorded investment
Loans	168	93
Commercial, financial and agricultural \| Domestic \| Commercial real estate: multifamily
Financing receivable recorded investment
Past due 90 days or Greater and Still Accruing	470
Loans	317,134	380,839
Commercial, financial and agricultural \| Domestic \| Commercial real estate: multifamily \| Current
Financing receivable recorded investment
Loans	277,928	380,140
Commercial, financial and agricultural \| Domestic \| Commercial real estate: multifamily \| Total Past Due
Financing receivable recorded investment
Loans	39,206	699
Commercial, financial and agricultural \| Domestic \| Commercial real estate: multifamily \| 30 to 59 Days
Financing receivable recorded investment
Loans	13,672	369
Commercial, financial and agricultural \| Domestic \| Commercial real estate: multifamily \| 60 to 89 Days
Financing receivable recorded investment
Loans		330
Commercial, financial and agricultural \| Domestic \| Commercial real estate: multifamily \| 90 Days or Greater
Financing receivable recorded investment
Loans	25,534
Obligations of states and political subdivisions
Financing receivable recorded investment
Loans	2,303,690	2,091,622
Obligations of states and political subdivisions \| Domestic \| Commercial Real Estate: other construction and land development
Financing receivable recorded investment
Loans	2,303,690	2,091,622
Obligations of states and political subdivisions \| Domestic \| Commercial Real Estate: other construction and land development \| Current
Financing receivable recorded investment
Loans	2,268,924	2,077,917
Obligations of states and political subdivisions \| Domestic \| Commercial Real Estate: other construction and land development \| Total Past Due
Financing receivable recorded investment
Loans	34,766	13,705
Obligations of states and political subdivisions \| Domestic \| Commercial Real Estate: other construction and land development \| 30 to 59 Days
Financing receivable recorded investment
Loans	24,807	3,460
Obligations of states and political subdivisions \| Domestic \| Commercial Real Estate: other construction and land development \| 60 to 89 Days
Financing receivable recorded investment
Loans	7
Obligations of states and political subdivisions \| Domestic \| Commercial Real Estate: other construction and land development \| 90 Days or Greater
Financing receivable recorded investment
Loans	9,952	10,245
Real estate - mortgage
Financing receivable recorded investment
Loans	967,792	938,901
Real estate - mortgage \| Domestic \| Residential: first lien
Financing receivable recorded investment
Past due 90 days or Greater and Still Accruing	2,556	2,437
Loans	498,650	478,032
Real estate - mortgage \| Domestic \| Residential: first lien \| Current
Financing receivable recorded investment
Loans	490,913	472,236
Real estate - mortgage \| Domestic \| Residential: first lien \| Total Past Due
Financing receivable recorded investment
Loans	7,737	5,796
Real estate - mortgage \| Domestic \| Residential: first lien \| 30 to 59 Days
Financing receivable recorded investment
Loans	4,082	1,812
Real estate - mortgage \| Domestic \| Residential: first lien \| 60 to 89 Days
Financing receivable recorded investment
Loans	1,012	1,439
Real estate - mortgage \| Domestic \| Residential: first lien \| 90 Days or Greater
Financing receivable recorded investment
Loans	2,643	2,545
Real estate - mortgage \| Domestic \| Residential Junior Lien
Financing receivable recorded investment
Past due 90 days or Greater and Still Accruing	1,828	1,701
Loans	469,142	460,869
Real estate - mortgage \| Domestic \| Residential Junior Lien \| Current
Financing receivable recorded investment
Loans	464,877	457,282
Real estate - mortgage \| Domestic \| Residential Junior Lien \| Total Past Due
Financing receivable recorded investment
Loans	4,265	3,587
Real estate - mortgage \| Domestic \| Residential Junior Lien \| 30 to 59 Days
Financing receivable recorded investment
Loans	1,557	1,273
Real estate - mortgage \| Domestic \| Residential Junior Lien \| 60 to 89 Days
Financing receivable recorded investment
Loans	880	613
Real estate - mortgage \| Domestic \| Residential Junior Lien \| 90 Days or Greater
Financing receivable recorded investment
Loans	1,828	1,701
Consumer
Financing receivable recorded investment
Loans	46,954	45,121
Consumer \| Domestic
Financing receivable recorded investment
Past due 90 days or Greater and Still Accruing	25	27
Loans	46,954	45,121
Consumer \| Domestic \| Current
Financing receivable recorded investment
Loans	46,803	44,820
Consumer \| Domestic \| Total Past Due
Financing receivable recorded investment
Loans	151	301
Consumer \| Domestic \| 30 to 59 Days
Financing receivable recorded investment
Loans	94	263
Consumer \| Domestic \| 60 to 89 Days
Financing receivable recorded investment
Loans	32	11
Consumer \| Domestic \| 90 Days or Greater
Financing receivable recorded investment
Loans	25	27
Foreign.
Financing receivable recorded investment
Loans	179,688	180,695
Foreign. \| Foreign
Financing receivable recorded investment
Past due 90 days or Greater and Still Accruing		889
Loans	179,688	180,695
Foreign. \| Foreign \| Current
Financing receivable recorded investment
Loans	176,203	177,074
Foreign. \| Foreign \| Total Past Due
Financing receivable recorded investment
Loans	3,485	3,621
Foreign. \| Foreign \| 30 to 59 Days
Financing receivable recorded investment
Loans	3,379	1,884
Foreign. \| Foreign \| 60 to 89 Days
Financing receivable recorded investment
Loans	$ 106	848
Foreign. \| Foreign \| 90 Days or Greater
Financing receivable recorded investment
Loans		$ 889

Allowance for Credit Losses - P

Allowance for Credit Losses - Portfolio Credit Quality (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024 USD ($) loan	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) loan item	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Loan portfolio by credit quality indicator
2024	$ 1,795,967		$ 1,795,967
2023	2,641,349		2,641,349		$ 3,364,226
2022	1,521,378		1,521,378		1,928,023
2021	1,114,640		1,114,640		1,328,045
2020	505,853		505,853		609,341
2019/Prior	688,640		688,640		295,840
Prior					533,486
Total loans	8,267,827		8,267,827		8,058,961
Current-period gross writeoffs
Total	$ 4,260	$ 2,982	$ 32,084	$ 5,015
Commercial.
Current-period gross writeoffs
Number of relationships upgraded to special review \| item			1
Commercial real estate: farmland & commercial
Current-period gross writeoffs
Number of loans downgraded \| loan	1		1
Commercial real estate: multifamily
Current-period gross writeoffs
Number of loans downgraded \| loan	2		2
Number of relationships downgraded from pass \| item			2
Commercial, financial and agricultural
Loan portfolio by credit quality indicator
Total loans	$ 4,769,703		$ 4,769,703		4,802,622
Commercial, financial and agricultural \| Domestic \| Commercial.
Loan portfolio by credit quality indicator
2024	428,315		428,315
2023	574,007		574,007		811,918
2022	153,687		153,687		305,621
2021	290,361		290,361		364,498
2020	42,125		42,125		50,602
2019/Prior	96,682		96,682		21,468
Prior					74,123
Total loans	1,585,177		1,585,177		1,628,230
Current-period gross writeoffs
2024			1,768
2023			2,288		7,053
2022			25,620		2,187
2021			27		155
2020			14		264
2019					2
Prior			3
Prior					3
Total	1,979	2,792	29,720	4,763	9,664
Commercial, financial and agricultural \| Domestic \| Commercial. \| Pass
Loan portfolio by credit quality indicator
2024	428,054		428,054
2023	559,120		559,120		791,233
2022	152,661		152,661		272,919
2021	290,204		290,204		364,271
2020	42,125		42,125		50,602
2019/Prior	96,681		96,681		21,468
Prior					74,119
Total loans	1,568,845		1,568,845		1,574,612
Commercial, financial and agricultural \| Domestic \| Commercial. \| Special Review
Loan portfolio by credit quality indicator
2023	1,872		1,872		7,613
2022					1,800
2021	138		138		164
Total loans	2,010		2,010		9,577
Commercial, financial and agricultural \| Domestic \| Commercial. \| Watch List - Pass
Loan portfolio by credit quality indicator
2023	11,760		11,760		11,865
Total loans	11,760		11,760		11,865
Commercial, financial and agricultural \| Domestic \| Commercial. \| Watch List - Substandard
Loan portfolio by credit quality indicator
2024	183		183
2023	947		947		1,180
2022	35		35		92
2021	19		19		28
2019/Prior	1		1
Prior					4
Total loans	1,185		1,185		1,304
Commercial, financial and agricultural \| Domestic \| Commercial. \| Watch List - Doubtful
Loan portfolio by credit quality indicator
2024	78		78
2023	308		308		27
2022	991		991		30,810
2021					35
Total loans	1,377		1,377		30,872
Commercial, financial and agricultural \| Domestic \| Commercial real estate: farmland & commercial
Loan portfolio by credit quality indicator
2024	512,533		512,533
2023	811,817		811,817		1,040,592
2022	581,872		581,872		631,029
2021	361,231		361,231		419,048
2020	255,401		255,401		270,009
2019/Prior	344,538		344,538		184,248
Prior					248,627
Total loans	2,867,392		2,867,392		2,793,553
Commercial, financial and agricultural \| Domestic \| Commercial real estate: farmland & commercial \| Pass
Loan portfolio by credit quality indicator
2024	443,421		443,421
2023	734,880		734,880		888,878
2022	579,702		579,702		628,653
2021	361,011		361,011		415,458
2020	253,124		253,124		267,705
2019/Prior	344,498		344,498		184,164
Prior					248,626
Total loans	2,716,636		2,716,636		2,633,484
Commercial, financial and agricultural \| Domestic \| Commercial real estate: farmland & commercial \| Special Review
Loan portfolio by credit quality indicator
2024	693		693
2023	68,156		68,156		5,205
2021					3,357
Total loans	68,849		68,849		8,562
Commercial, financial and agricultural \| Domestic \| Commercial real estate: farmland & commercial \| Watch List - Pass
Loan portfolio by credit quality indicator
2024	16,504		16,504
2023					16,654
2022					87
2021	220		220		233
Total loans	16,724		16,724		16,974
Commercial, financial and agricultural \| Domestic \| Commercial real estate: farmland & commercial \| Watch List - Substandard
Loan portfolio by credit quality indicator
2023	8,781		8,781		129,644
2022	2,170		2,170		2,201
2020	2,277		2,277		2,304
2019/Prior	40		40		84
Prior					1
Total loans	13,268		13,268		134,234
Commercial, financial and agricultural \| Domestic \| Commercial real estate: farmland & commercial \| Watch List - Doubtful
Loan portfolio by credit quality indicator
2024	51,915		51,915
2023					211
2022					88
Total loans	51,915		51,915		299
Commercial, financial and agricultural \| Domestic \| Commercial real estate: multifamily
Loan portfolio by credit quality indicator
2024	66,981		66,981
2023	42,449		42,449		123,523
2022	90,964		90,964		94,647
2021	22,517		22,517		42,081
2020	60,011		60,011		73,652
2019/Prior	34,212		34,212		10,743
Prior					36,193
Total loans	317,134		317,134		380,839
Commercial, financial and agricultural \| Domestic \| Commercial real estate: multifamily \| Pass
Loan portfolio by credit quality indicator
2024	53,481		53,481
2023	17,385		17,385		123,523
2022	90,883		90,883		94,551
2021	22,517		22,517		42,081
2020	60,011		60,011		73,652
2019/Prior	34,212		34,212		10,743
Prior					36,193
Total loans	278,489		278,489		380,743
Commercial, financial and agricultural \| Domestic \| Commercial real estate: multifamily \| Watch List - Doubtful
Loan portfolio by credit quality indicator
2024	13,500		13,500
2023	25,064		25,064
2022	81		81		96
Total loans	38,645		38,645		96
Obligations of states and political subdivisions
Loan portfolio by credit quality indicator
Total loans	2,303,690		2,303,690		2,091,622
Obligations of states and political subdivisions \| Domestic \| Commercial Real Estate: other construction and land development
Loan portfolio by credit quality indicator
2024	512,464		512,464
2023	943,077		943,077		966,695
2022	516,102		516,102		687,012
2021	276,944		276,944		324,238
2020	44,154		44,154		96,400
2019/Prior	10,949		10,949		14,058
Prior					3,219
Total loans	2,303,690		2,303,690		2,091,622
Current-period gross writeoffs
2023			1,146
2022			1,082
Total	2,228		2,228
Obligations of states and political subdivisions \| Domestic \| Commercial Real Estate: other construction and land development \| Pass
Loan portfolio by credit quality indicator
2024	512,208		512,208
2023	916,247		916,247		938,739
2022	506,150		506,150		674,037
2021	276,944		276,944		324,238
2020	44,154		44,154		96,400
2019/Prior	10,949		10,949		14,058
Prior					3,219
Total loans	2,266,652		2,266,652		2,050,691
Obligations of states and political subdivisions \| Domestic \| Commercial Real Estate: other construction and land development \| Special Review
Loan portfolio by credit quality indicator
2023	17,370		17,370
Total loans	17,370		17,370
Obligations of states and political subdivisions \| Domestic \| Commercial Real Estate: other construction and land development \| Watch List - Substandard
Loan portfolio by credit quality indicator
2024	178		178
2023	9,460		9,460		25,230
Total loans	9,638		9,638		25,230
Obligations of states and political subdivisions \| Domestic \| Commercial Real Estate: other construction and land development \| Watch List - Doubtful
Loan portfolio by credit quality indicator
2024	78		78
2023					2,726
2022	9,952		9,952		12,975
Total loans	10,030		10,030		15,701
Real estate - mortgage
Loan portfolio by credit quality indicator
Total loans	967,792		967,792		938,901
Real estate - mortgage \| Domestic \| Residential: first lien
Loan portfolio by credit quality indicator
2024	122,919		122,919
2023	113,107		113,107		180,127
2022	85,681		85,681		83,661
2021	61,274		61,274		68,409
2020	31,390		31,390		39,935
2019/Prior	84,279		84,279		27,499
Prior					78,401
Total loans	498,650		498,650		478,032
Current-period gross writeoffs
Prior			46
Prior					43
Total	1		46		43
Real estate - mortgage \| Domestic \| Residential: first lien \| Pass
Loan portfolio by credit quality indicator
2024	122,822		122,822
2023	113,107		113,107		180,127
2022	85,626		85,626		83,568
2021	60,962		60,962		68,082
2020	31,390		31,390		39,935
2019/Prior	84,279		84,279		27,499
Prior					78,306
Total loans	498,186		498,186		477,517
Real estate - mortgage \| Domestic \| Residential: first lien \| Watch List - Substandard
Loan portfolio by credit quality indicator
2024	97		97
2021	312		312		327
Prior					95
Total loans	409		409		422
Real estate - mortgage \| Domestic \| Residential: first lien \| Watch List - Doubtful
Loan portfolio by credit quality indicator
2022	55		55		93
Total loans	55		55		93
Real estate - mortgage \| Domestic \| Residential Junior Lien
Loan portfolio by credit quality indicator
2024	45,871		45,871
2023	80,297		80,297		88,628
2022	69,827		69,827		76,845
2021	90,926		90,926		96,411
2020	71,044		71,044		76,490
2019/Prior	111,177		111,177		34,870
Prior					87,625
Total loans	469,142		469,142		460,869
Current-period gross writeoffs
Prior					298
Total		164		165	298
Real estate - mortgage \| Domestic \| Residential Junior Lien \| Pass
Loan portfolio by credit quality indicator
2024	45,871		45,871
2023	80,297		80,297		88,628
2022	69,827		69,827		76,845
2021	90,926		90,926		96,411
2020	71,044		71,044		76,490
2019/Prior	111,177		111,177		34,870
Prior					87,625
Total loans	469,142		469,142		460,869
Consumer
Loan portfolio by credit quality indicator
Total loans	46,954		46,954		45,121
Consumer \| Domestic
Loan portfolio by credit quality indicator
2024	23,740		23,740
2023	18,735		18,735		36,639
2022	2,218		2,218		5,366
2021	642		642		1,043
2020	87		87		237
2019/Prior	1,532		1,532		157
Prior					1,679
Total loans	46,954		46,954		45,121
Current-period gross writeoffs
2024			4
2023			66		54
2022			19		115
2021					9
2019					1
Prior			1
Total	52	$ 26	90	$ 87	179
Consumer \| Domestic \| Pass
Loan portfolio by credit quality indicator
2024	23,740		23,740
2023	18,735		18,735		36,639
2022	2,218		2,218		5,366
2021	642		642		1,043
2020	87		87		237
2019/Prior	1,532		1,532		157
Prior					1,679
Total loans	46,954		46,954		45,121
Foreign.
Loan portfolio by credit quality indicator
Total loans	179,688		179,688		180,695
Foreign. \| Foreign
Loan portfolio by credit quality indicator
2024	83,144		83,144
2023	57,860		57,860		116,104
2022	21,027		21,027		43,842
2021	10,745		10,745		12,317
2020	1,641		1,641		2,016
2019/Prior	5,271		5,271		2,797
Prior					3,619
Total loans	179,688		179,688		180,695
Foreign. \| Foreign \| Pass
Loan portfolio by credit quality indicator
2024	83,144		83,144
2023	57,860		57,860		116,104
2022	21,027		21,027		43,842
2021	10,745		10,745		12,317
2020	1,641		1,641		2,016
2019/Prior	5,271		5,271		2,797
Prior					3,619
Total loans	$ 179,688		$ 179,688		$ 180,695

Stock Options - Options (Detail

Stock Options - Options (Details) - USD ($)	3 Months Ended		6 Months Ended
Stock Options - Options (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Apr. 05, 2012
Stock option details
Number of rights issued			8,000
Base value of units issued (per unit)			$ 53.91
Employee Stock Option
Stock Options, Aggregate intrinsic value
Stock-based compensation expense	$ 48,000	$ 77,000	$ 122,000	$ 179,000
Employee Stock Option \| 2012 Plan
Stock option details
Shares available for future grants					800,000
Maximum exercisable period for granted share-based compensation			10 years
Stock option activity
Options outstanding at the beginning of the period (in shares)			383,865
Less:
Options exercised (in shares)			(113,402)
Options forfeited (in shares)			(20,937)
Options outstanding at the end of the period (in shares)	249,526		249,526
Options fully vested and exercisable at the end of the period (in shares)	151,083		151,083
Stock Options, Weighted average exercise price
Options outstanding at the beginning, weighted average exercise price (in dollars per share)			$ 30.65
Less:
Options exercised, weighted average exercise price (in dollars per share)			23.37
Options forfeited, weighted average exercise price (in dollars per share)			23.27
Options outstanding at the end, weighted average exercise price (in dollars per share)	$ 34.57		34.57
Options fully vested and exercisable at the end, weighted average exercise price (in dollars per share)	$ 34.58		$ 34.58
Stock Options, Weighted average remaining contractual term (years)
Options outstanding at the end, weighted average remaining contractual term (years)			4 years 3 months 21 days
Options fully vested and exercisable at the end, weighted average remaining contractual term (years)			3 years 5 months 1 day
Stock Options, Aggregate intrinsic value
Options outstanding at the end, aggregate intrinsic value	$ 5,650,000		$ 5,650,000
Options fully vested and exercisable at the end, aggregate intrinsic value	3,419,000		3,419,000
Stock-based compensation cost, unrecognized	$ 310,000		$ 310,000
Stock-based compensation cost, unrecognized, weighted-average period of recognition			1 year 4 months 24 days
Incentive Stock Options to 10 Percent Shareholders \| 2012 Plan
Stock option details
Maximum exercisable period for granted share-based compensation			5 years

Stock Options - SARs (Details)

Stock Options - SARs (Details) - USD ($)		3 Months Ended		6 Months Ended
Stock Options - SARs (Details) - USD ($)	Apr. 18, 2022	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Stock option details
Number of rights issued				8,000
Base value of units issued (per unit)				$ 53.91
SARs
Outstanding beginning balance				465,250
Granted				8,000
Forfeited				(11,500)
Outstanding ending balance		461,750		461,750
Weighted average exercise price
Weighted average exercise price, beginning balance (per share)				$ 39.35
Weighted average exercise price, granted (per share)				53.91
Weighted average exercise price, forfeited (per share)				39.33
Weighted average exercise price, ending balance (per share)		$ 39.60		$ 39.60
Aggregate intrinsic value
Aggregate intrinsic value		$ 8,130,000		$ 8,130,000
Weighted average remaining contractual term (years)				8 years 14 days
Stock Appreciation Rights (SARs)
Aggregate intrinsic value
Fair Value of Liability		2,888,000		$ 2,888,000		$ 1,464,000
Stock-based compensation expense		344,000	$ 264,000	1,424,000	$ 430,000
Stock-based compensation cost, unrecognized		$ 7,311,000		$ 7,311,000
Stock-based compensation cost, unrecognized, weighted-average period of recognition				8 years
Stock Appreciation Rights (SARs) \| SAR Plan
Stock option details
Shares available for future grants	750,000
Maximum exercisable period for granted share-based compensation	10 years
Number of rights issued				461,750
Vesting period	8 years
SARs
Granted				461,750

Investment Securities, Equity_3

Investment Securities, Equity Securities with Readily Determinable Fair Values and Other Investments (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Held-to-maturity securities
Amortized Value	$ 4,400,000	$ 3,400,000
Estimated fair value	4,400,000	3,400,000
Carrying Value	4,400,000	3,400,000
Available-for-sale securities
Amortized cost	5,410,572,000	5,330,814,000
Gross unrealized gains	3,871,000	11,143,000
Gross unrealized losses	(545,416,000)	(519,616,000)
Estimated fair value, Available for sale securities	4,869,027,000	4,822,341,000
Collateral Pledged
Available-for-sale securities
Amortized cost	2,001,561,000
Estimated Fair Value
Available-for-sale securities
Estimated fair value, Available for sale securities	4,869,027,000	4,822,341,000
Reported Value Measurement
Available-for-sale securities
Estimated fair value, Available for sale securities	4,869,027,000	4,822,341,000
Residential mortgage-backed securities
Available-for-sale securities
Amortized cost	5,251,514,000	5,169,813,000
Gross unrealized gains	3,296,000	9,541,000
Gross unrealized losses	(542,387,000)	(519,255,000)
Residential mortgage-backed securities \| Estimated Fair Value
Available-for-sale securities
Estimated fair value, Available for sale securities	4,712,423,000	4,660,099,000
Residential mortgage-backed securities \| Reported Value Measurement
Available-for-sale securities
Estimated fair value, Available for sale securities	4,712,423,000	4,660,099,000
US Government Corporations and Agencies Securities [Member]
Available-for-sale securities
Estimated fair value, Available for sale securities	895,457,000	959,421,000
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]
Available-for-sale securities
Estimated fair value, Available for sale securities	3,816,966,000	3,700,678,000
States and political subdivisions
Available-for-sale securities
Amortized cost	159,058,000	161,001,000
Gross unrealized gains	575,000	1,602,000
Gross unrealized losses	(3,029,000)	(361,000)
States and political subdivisions \| Estimated Fair Value
Available-for-sale securities
Estimated fair value, Available for sale securities	156,604,000	162,242,000
States and political subdivisions \| Reported Value Measurement
Available-for-sale securities
Estimated fair value, Available for sale securities	156,604,000	162,242,000
Other Debt Obligations
Held-to-maturity securities
Amortized Value	4,400,000	3,400,000
Estimated fair value	4,400,000	3,400,000
Carrying Value	$ 4,400,000	$ 3,400,000

Investment Securities, Equity_4

Investment Securities, Equity Securities with Readily Determinable Fair Values and Other Investments - Contractual Maturities and Estimated Fair Values (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Amortized Cost
Due in one year or less, held-to-maturity debt securities amortized cost	$ 1,200,000		$ 1,200,000
Due after one year through five years, held-to-maturity debt securities amortized cost	3,200,000		3,200,000
Amortized cost, held-to-maturity debt securities	4,400,000		4,400,000		$ 3,400,000
Fair Value
Due in one year or less, held-to-maturity debt securities, Estimated fair value	1,200,000		1,200,000
Due after one year through five years, held-to-maturity debt securities, Estimated fair value	3,200,000		3,200,000
Estimated fair value	4,400,000		4,400,000		3,400,000
Available-for-sale debt securities amortized cost disclosures
Due after five years through ten years, available-for-sale debt securities amortized cost	1,450,000		1,450,000
Due after ten years, available-for-sale debt securities amortized cost	157,608,000		157,608,000
Residential mortgage-backed securities, amortized cost	5,251,514,000		5,251,514,000
Amortized cost, Available-for-sale securities	5,410,572,000		5,410,572,000		5,330,814,000
Available for sale debt securities, Estimated Fair Value Disclosures
Due after five years through ten years, available-for-sale debt securities, Estimated Fair Value	1,441,000		1,441,000
Due after ten years, available-for-sale debt securities, Estimated Fair Value	155,163,000		155,163,000
Residential mortgage-backed securities, Estimated Fair Value	4,712,423,000		4,712,423,000
Estimated fair value, Available for sale securities	4,869,027,000		4,869,027,000		$ 4,822,341,000
Available for sale debt securities, Estimated Fair Value Disclosures
Proceeds from sales and calls of available for sale securities	0	$ 0	1,720,000	$ 450,000
Proceeds from sales of mortgage-backed securities	0	0	0	0
Gross gains realized on sales	0	0	0	0
Gross losses realized on sales	0	$ 0	0	$ 0
Collateral Pledged
Available-for-sale debt securities amortized cost disclosures
Amortized cost, Available-for-sale securities	2,001,561,000		2,001,561,000
Available for sale debt securities, Estimated Fair Value Disclosures
Fair value of available for sale investment securities pledged	$ 1,734,388,000		$ 1,734,388,000

Investment Securities, Equity_5

Investment Securities, Equity Securities with Readily Determinable Fair Values and Other Investments - Unrealized and realized gains and losses recognized in net income on equity securities (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Investment Securities, Equity Securities with Readily Determinable Fair Values and Other Investments
Equity Securities	$ 5,337,000		$ 5,337,000		$ 5,417,000
Summary of unrealized and realized gains and losses recognized in net income on equity securities
Net losses recognized during the period on equity securities	(23,000)	$ (92,000)	(80,000)	$ (58,000)
Unrealized gain on equity securities with readily determinable fair values	$ (23,000)	$ (92,000)	$ (80,000)	$ (58,000)

Investment Securities, Equity_6

Investment Securities, Equity Securities with Readily Determinable Fair Values and Other Investments - Other Investments (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
LIHTC
Investments	$ 193,135,000		$ 193,135,000		$ 200,245,000
Investment, Proportional Amortization Method, Elected, Statement of Financial Position [Extensible Enumeration]	Other Long-term Investments		Other Long-term Investments		Other Long-term Investments
Estimated tax credits			$ 11,266,000
Estimated amortization			12,437,000
Impairment losses	$ 0	$ 0	0	$ 0
Other liabilities
LIHTC
Unfunded commitments	$ 21,251,000		$ 21,251,000		$ 34,126,000

Other Borrowed Funds (Details)

Other Borrowed Funds (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Federal Home Loan Bank advances
Other borrowed funds	$ 10,644,000	$ 10,745,000

Junior Subordinated Interest _3

Junior Subordinated Interest Deferrable Debentures (Details)	6 Months Ended
	Jun. 30, 2024 USD ($) item	Dec. 31, 2023 USD ($)
Junior Subordinated Interest Deferrable Debentures
Number of statutory business trusts issuing trust preferred securities \| item	4
Junior subordinated deferrable interest debentures	$ 108,868,000	$ 108,868,000
Percentage of capital securities issued by trust qualifying as Tier I capital, maximum	25%
Percentage of capital securities issued by trust qualifying as Tier II capital, minimum	25%
Capital securities issued by the trust, qualifying as Tier I capital	$ 108,868,000	$ 108,868,000

Junior Subordinated Interest _4

Junior Subordinated Interest Deferrable Debentures - Key Information (Details) - USD ($)		6 Months Ended
	Jul. 01, 2023	Jun. 30, 2024	Dec. 31, 2023
Junior subordinated interest deferrable debentures, major types of business trusts
Junior subordinated deferrable interest debentures		$ 108,868,000	$ 108,868,000
Trust IX
Junior subordinated interest deferrable debentures, major types of business trusts
Junior subordinated deferrable interest debentures		$ 41,238,000
Interest rate (as a percent)		7.18%
Interest rate index		SOFR
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		$ 21,021,000
Interest rate (as a percent)		7.24%
Interest rate index		SOFR
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		$ 25,990,000
Interest rate (as a percent)		7.18%
Interest rate index		SOFR
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		$ 20,619,000
Interest rate (as a percent)		7.06%
Interest rate index		SOFR
Spread on interest rate index (as a percent)		1.45%
Capital and Common Securities
Junior subordinated interest deferrable debentures, major types of business trusts
Spread on interest rate index (as a percent)	0.26%

Common Stock and Dividends (Det

Common Stock and Dividends (Details) - USD ($)			1 Months Ended	3 Months Ended
Common Stock and Dividends (Details) - USD ($)	Jul. 29, 2024	Feb. 21, 2023	Apr. 30, 2009	Mar. 31, 2024	Mar. 31, 2023
Repurchase of common stock, authorized amount		$ 150,000,000	$ 40,000,000
Period of repurchase of common stock		12 months	12 months
Cumulative number of shares repurchased under all stock repurchase programs	13,708,433
Cumulative cost of shares repurchased under all stock repurchase programs	$ 415,051,000
Regular 2024 Q1 Dividends
Common stock dividends paid (per share)				$ 0.66
Dividend payment date				Feb. 28, 2024
Dividend record date				Feb. 15, 2024
Regular 2023 Q1 Dividends
Common stock dividends paid (per share)					$ 0.63
Dividend payment date					Feb. 28, 2023
Dividend record date					Feb. 15, 2023

Capital Ratios - Capital Amount

Capital Ratios - Capital Amounts and Ratios (Details)	Jun. 30, 2024	Dec. 31, 2023
Capital Ratios
CET 1 ratio	0.2232	0.2172
Total Capital (to Risk Weighted Assets), Actual Ratio (as a percent)	0.2426	0.2365
Tier 1 capital (to Risk Weighted Assets), Actual Ratio (as a percent)	0.2301	0.2239
Tier 1 capital (to Average Assets), Actual Ratio (as a percent)	0.1808	0.1746