Loans and Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2020

Summary of Loan Classes and Aging of Past Due Loans

This table provides a summary of loan classes and an aging of past due loans at March 31, 2020 and December 31, 2019 (in thousands):

	March 31, 2020
	30-89 Days Past Due and Accruing		Greater than 90 Days Past Due and Accruing		Non- Accrual Loans		Total Past Due		Current		Total Loans
Loans
Commercial and industrial	$	8,663	$	34	$	42,613	$	51,310	$	5,901,054	$	5,952,364
Specialty lending		—		—		1,455		1,455		521,970		523,425
Commercial real estate		7,180		115		46,379		53,674		5,230,113		5,283,787
Consumer real estate		1,282		154		5,521		6,957		1,437,554		1,444,511
Consumer		124		23		184		331		146,390		146,721
Credit cards		2,175		1,885		808		4,868		368,739		373,607
Leases and other		—		—		69		69		225,226		225,295
Total loans	$	19,424	$	2,211	$	97,029	$	118,664	$	13,831,046	$	13,949,710

	December 31, 2019
	30-89 Days Past Due and Accruing		Greater than 90 Days Past Due and Accruing		Non- Accrual Loans		Total Past Due		Current		Total Loans
Loans
Commercial:
Commercial	$	10,491	$	250	$	25,592	$	36,333	$	5,805,669	$	5,842,002
Asset-based		—		—		—		—		292,231		292,231
Factoring		—		—		—		—		170,560		170,560
Commercial – credit card		760		52		24		836		181,402		182,238
Real estate:
Real estate – construction		3,933		—		95		4,028		838,318		842,346
Real estate – commercial		3,365		36		24,030		27,431		4,301,293		4,328,724
Real estate – residential		485		—		2,748		3,233		930,043		933,276
Real estate – HELOC		544		—		2,798		3,342		474,809		478,151
Consumer:
Consumer – credit card		1,835		1,681		803		4,319		222,423		226,742
Consumer – other		81		50		257		388		133,086		133,474
Leases		—		—		—		—		1,978		1,978
Total loans	$	21,494	$	2,069	$	56,347	$	79,910	$	13,351,812	$	13,431,722

Summary of Amortized Cost of Nonaccrual Loans with No Related Allowance

The following table provides the amortized cost of nonaccrual loans with no related allowance for credit losses by loan class at March 31, 2020 (in thousands):

	March 31, 2020
	Non- Accrual Loans		Amortized Cost of Non-Accrual Loans with no related Allowance
Loans
Commercial and industrial	$	42,613	$	22,102
Specialty lending		1,455		1,011
Commercial real estate		46,379		38,495
Consumer real estate		5,521		5,521
Consumer		184		184
Credit cards		808		808
Leases and other		69		69
Total loans	$	97,029	$	68,190

Summary of Amortized Cost Balance of Each of Loan Classes Disaggregated by Collateral Type and Origination Year

The following table provides a summary of the amortized cost balance of each of the Company’s loan classes disaggregated by collateral type and origination year as of March 31, 2020 (in thousands):

	March 31, 2020
													Amortized Cost - Revolving Loans		Amortized Cost - Revolving Loans Converted to Term Loans


Loan Segment and Type	Amortized Cost Basis by Origination Year - Term Loans
Loan Segment and Type	2020		2019		2018		2017		2016		Prior						Total
Commercial and industrial:
Equipment/Accounts Receivable/Inventory	$	955,311	$	1,012,606	$	660,657	$	267,071	$	235,386	$	186,903	$	2,429,565	$	10,701	$	5,758,200
Agriculture		967		12,068		3,946		6,332		4,556		1,949		148,744		—		178,562
Overdrafts		—		—		—		—		—		—		15,602		—		15,602
Total Commercial and industrial		956,278		1,024,674		664,603		273,403		239,942		188,852		2,593,911		10,701		5,952,364
Specialty lending:
Asset-based lending		8,503		61,289		—		—		—		—		286,844		—		356,636
Factoring		—		—		—		—		—		—		166,789		—		166,789
Total Specialty lending		8,503		61,289		—		—		—		—		453,633		—		523,425
Commercial real estate:
Owner-occupied		89,443		426,334		300,415		237,437		175,338		290,695		30,328		17,368		1,567,358
Non-owner-occupied		111,865		566,992		288,939		267,792		263,488		279,534		69,403		73,130		1,921,143
Farmland		22,470		75,807		54,607		52,831		92,875		77,722		50,267		177		426,756
5+ Multi-family		7,257		110,450		48,822		91,199		119,504		11,714		1,770		—		390,716
1-4 Family construction		—		—		—		—		—		—		40,463		—		40,463
General construction		7,750		4,807		5,857		936		548		2,957		910,394		4,102		937,351
Total Commercial real estate		238,785		1,184,390		698,640		650,195		651,753		662,622		1,102,625		94,777		5,283,787
Consumer real estate:
HELOC		17,606		23,227		13,430		454		86		2,916		419,468		—		477,187
First lien: 1-4 family		119,235		358,923		110,014		126,240		111,528		118,687		1,412		—		946,039
Junior lien: 1-4 family		2,298		9,308		3,559		2,267		1,201		2,361		291		—		21,285
Total Consumer real estate		139,139		391,458		127,003		128,961		112,815		123,964		421,171		—		1,444,511
Consumer:
Revolving line		—		—		—		—		—		85		85,927		—		86,012
Auto		4,314		13,670		5,117		3,110		1,553		1,036		—		—		28,800
Other		1,245		8,509		3,156		638		1,271		355		16,735		—		31,909
Total Consumer		5,559		22,179		8,273		3,748		2,824		1,476		102,662		—		146,721
Credit cards:
Consumer		—		—		—		—		—		—		203,318		—		203,318
Commercial		—		—		—		—		—		—		170,289		—		170,289
Total Credit cards		—		—		—		—		—		—		373,607		—		373,607
Leases and other:
Leases		—		557		—		833		—		769		—		—		2,159
Other		586		12,693		9,470		3,444		2,414		5,889		188,640		—		223,136
Total Leases and other		586		13,250		9,470		4,277		2,414		6,658		188,640		—		225,295
Total loans	$	1,348,850	$	2,697,240	$	1,507,989	$	1,060,584	$	1,009,748	$	983,572	$	5,236,249	$	105,478	$	13,949,710

Summary of Amortized Cost Balance by Collateral Type and Risk Rating

The following table provides a summary of the amortized cost balance by collateral type and risk rating as of March 31, 2020 (in thousands):

	March 31, 2020
													Amortized Cost - Revolving Loans		Amortized Cost - Revolving Loans Converted to Term Loans


Risk by Collateral	Amortized Cost Basis by Origination Year - Term Loans
Risk by Collateral	2020		2019		2018		2017		2016		Prior						Total
Equipment/Accounts Receivable/Inventory
Non-watch list	$	889,106	$	970,210	$	608,207	$	249,951	$	198,513	$	182,297	$	2,231,968	$	6,191	$	5,336,443
Watch		28,487		17,722		40,462		6,142		25,592		3,224		82,337		—		203,966
Special Mention		97		408		2,366		2,251		9,240		624		27,778		3,990		46,754
Substandard		37,621		24,127		9,622		2,947		2,041		719		87,157		520		164,754
Doubtful		—		139		—		5,780		—		39		325		—		6,283
Total Equipment/Accounts Receivable/Inventory	$	955,311	$	1,012,606	$	660,657	$	267,071	$	235,386	$	186,903	$	2,429,565	$	10,701	$	5,758,200
Agriculture
Non-watch list	$	832	$	10,113	$	3,374	$	2,991	$	3,982	$	1,769	$	102,899	$	—	$	125,960
Watch		135		161		532		144		503		45		12,223		—		13,743
Special Mention		—		475		22		163		22		—		3,285		—		3,967
Substandard		—		1,319		18		3,034		49		135		30,337		—		34,892
Doubtful		—		—		—		—		—		—		—		—		—
Total Agriculture	$	967	$	12,068	$	3,946	$	6,332	$	4,556	$	1,949	$	148,744	$	—	$	178,562

The following table provides a summary of the amortized cost balance by collateral type and risk rating as of March 31, 2020 (in thousands):

	March 31, 2020
Risk	Asset-based lending		Factoring
In-margin	$	350,487	$	23,160
Out-of-margin		6,149		143,629
Total	$	356,636	$	166,789

	March 31, 2020
													Amortized Cost - Revolving Loans		Amortized Cost - Revolving Loans Converted to Term Loans


Risk by Collateral	Amortized Cost Basis by Origination Year - Term Loans
Risk by Collateral	2020		2019		2018		2017		2016		Prior						Total
Owner-occupied
Non-watch list	$	84,399	$	418,347	$	252,193	$	203,728	$	166,497	$	281,410	$	18,351	$	17,368	$	1,442,293
Watch		—		6,398		35,581		—		—		502		—		—		42,481
Special Mention		—		990		6,327		1,722		2,100		1,987		43		—		13,169
Substandard		5,044		599		6,314		31,987		6,102		6,796		11,934		—		68,776
Doubtful		—		—		—		—		639		—		—		—		639
Total Owner-occupied	$	89,443	$	426,334	$	300,415	$	237,437	$	175,338	$	290,695	$	30,328	$	17,368	$	1,567,358
Non-owner-occupied
Non-watch list	$	111,681	$	566,241	$	288,939	$	260,214	$	260,735	$	273,040	$	69,403	$	73,130	$	1,903,383
Watch		—		300		—		7,578		1,983		5,105		—		—		14,966
Special Mention		—		—		—		—		—		1,329		—		—		1,329
Substandard		184		451		—		—		770		60		—		—		1,465
Doubtful		—		—		—		—		—		—		—		—		—
Total Non-owner-occupied	$	111,865	$	566,992	$	288,939	$	267,792	$	263,488	$	279,534	$	69,403	$	73,130	$	1,921,143
Farmland
Non-watch list	$	20,730	$	56,685	$	31,484	$	38,394	$	65,139	$	34,394	$	27,597	$	177	$	274,600
Watch		123		3,727		15,251		6,299		5,294		26,809		19,193		—		76,696
Special Mention		—		—		1,220		510		1,462		507		205		—		3,904
Substandard		1,617		15,395		6,652		7,628		20,980		16,012		3,272		—		71,556
Doubtful		—		—		—		—		—		—		—		—		—
Total Farmland	$	22,470	$	75,807	$	54,607	$	52,831	$	92,875	$	77,722	$	50,267	$	177	$	426,756
5+ Multi-family
Non-watch list	$	7,257	$	107,990	$	48,822	$	89,850	$	111,374	$	11,714	$	1,770	$	—	$	378,777
Watch		—		—		—		1,349		—		—		—		—		1,349
Special Mention		—		2,460		—		—		6,269		—		—		—		8,729
Substandard		—		—		—		—		1,861		—		—		—		1,861
Doubtful		—		—		—		—		—		—		—		—		—
Total 5+ Multi-family	$	7,257	$	110,450	$	48,822	$	91,199	$	119,504	$	11,714	$	1,770	$	—	$	390,716
1-4 Family construction
Non-watch list	$	—	$	—	$	—	$	—	$	—	$	—	$	40,463	$	—	$	40,463
Watch		—		—		—		—		—		—		—		—		—
Special Mention		—		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—		—
Total 1-4 Family construction	$	—	$	—	$	—	$	—	$	—	$	—	$	40,463	$	—	$	40,463
General construction
Non-watch list	$	6,828	$	4,713	$	5,689	$	936	$	548	$	2,957	$	907,000	$	4,102	$	932,773
Watch		617		—		—		—		—		—		—		—		617
Special Mention		305		—		—		—		—		—		—		—		305
Substandard		—		—		168		—		—		—		3,394		—		3,562
Doubtful		—		94		—		—		—		—		—		—		94
Total General construction	$	7,750	$	4,807	$	5,857	$	936	$	548	$	2,957	$	910,394	$	4,102	$	937,351

	March 31, 2020
Risk	HELOC		First lien: 1-4 family		Junior lien: 1-4 family
Performing	$	473,836	$	943,957	$	21,196
Nonperforming:
2020		—		—		—
2019		190		138		—
2018		130		78		49
2017		208		1,072		—
2016		144		472		24
Prior to 2016		2,679		322		16
Total	$	477,187	$	946,039	$	21,285

	March 31, 2020
Risk	Revolving line		Auto		Other
Performing	$	85,888	$	28,744	$	31,905
Nonperforming:
2020		—		—		—
2019		—		55		—
2018		—		—		—
2017		124		—		4
2016		—		—		—
Prior to 2016		—		1		—
Total	$	86,012	$	28,800	$	31,909

The following table provides a summary of the amortized cost balance of consumer credit cards by risk rating as of March 31, 2020 (in thousands):

	March 31, 2020
Risk	Consumer
Transactor accounts	$	48,428
Revolver accounts (by FICO score):
Less than 600		9,795
600-619		3,642
620-639		6,569
640-659		11,654
660-679		19,194
680-699		20,566
700-719		19,869
720-739		18,228
740-759		14,799
760-779		9,994
780-799		7,894
800-819		5,590
820-839		4,558
840+		2,538
Total	$	203,318

The following table provides a summary of the amortized cost balance of commercial credit cards by risk rating as of March 31, 2020 (in thousands):

	March 31, 2020
Risk	Commercial
Current	$	157,772
Past Due		12,517
Total	$	170,289

	March 31, 2020
Risk	Leases		Other
Non-watch list	$	2,159	$	222,234
Watch		—		700
Special Mention		—		—
Substandard		—		202
Doubtful		—		—
Total	$	2,159	$	223,136

Credit Risk Profile by Risk Rating and Based on Payment Activity

This table provides an analysis of the credit risk profile of each loan class at December 31, 2019 (in thousands):

Credit Exposure

Credit Risk Profile by Risk Rating

	December 31, 2019
	Commercial		Asset-based		Factoring		Real estate – construction		Real estate – commercial
Non-watch list	$	5,380,205	$	230,526	$	127,310	$	837,836	$	4,078,673
Watch		257,040		—		—		175		110,530
Special Mention		91,020		34,640		1,376		307		28,020
Substandard		113,737		27,065		41,874		4,028		111,501
Total	$	5,842,002	$	292,231	$	170,560	$	842,346	$	4,328,724

Credit Exposure

Credit Risk Profile Based on Payment Activity

	December 31, 2019
	Commercial – credit card		Real estate – residential		Real estate – HELOC		Consumer – credit card		Consumer – other		Leases
Performing	$	182,214	$	926,312	$	468,228	$	225,939	$	132,414	$	1,978
Non-performing		24		6,964		9,923		803		1,060		—
Total	$	182,238	$	933,276	$	478,151	$	226,742	$	133,474	$	1,978

Rollforward of Allowance for Credit/Loan Losses by Portfolio Segment

This table provides a rollforward of the allowance for credit losses by portfolio segment for the three months ended March 31, 2020 (in thousands):

	Three Months Ended March 31, 2020
	Commercial and industrial			Specialty lending		Commercial real estate			Consumer real estate			Consumer			Credit cards			Leases and other		Total - Loans			HTM		Total
Allowance for credit losses:
Beginning balance	$	63,313		$	2,545	$	15,951		$	2,623		$	543		$	15,739		$	1,074	$	101,788		$	—	$	101,788
ASU 2016-13 adjustment		3,677			148		926			152			31			914			62		5,910			3,120		9,030
Charge-offs		(1,315	)		—		(6,062	)		(13	)		(248	)		(2,126	)		—		(9,764	)		—		(9,764	)
Recoveries		1,476			—		21			14			97			484			—		2,092			—		2,092
Provision		55,381			856		24,559			1,401			704			3,812			1,172		87,885			115		88,000
Ending balance	$	122,532		$	3,549	$	35,395		$	4,177		$	1,127		$	18,823		$	2,308	$	187,911		$	3,235	$	191,146

This table provides a rollforward of the allowance for loan losses by portfolio segment for the three months ended March 31, 2019 (in thousands):

	Three Months Ended March 31, 2019
	Commercial			Real estate			Consumer			Leases			Total
Allowance for loan losses:
Beginning balance	$	80,888		$	13,664		$	9,071		$	12		$	103,635
Charge-offs		(11,163	)		(114	)		(2,467	)		—			(13,744	)
Recoveries		626			73			721			—			1,420
Provision		9,981			767			1,603			(1	)		12,350
Ending balance	$	80,332		$	14,390		$	8,928		$	11		$	103,661
Ending balance: individually evaluated for impairment	$	5,547		$	101		$	—		$	—		$	5,648
Ending balance: collectively evaluated for impairment		74,785			14,289			8,928			11			98,013
Loans:
Ending balance: loans	$	6,261,244		$	5,928,139		$	355,538		$	4,811		$	12,549,732
Ending balance: individually evaluated for impairment		37,493			21,197			349			—			59,039
Ending balance: collectively evaluated for impairment		6,223,751			5,906,942			355,189			4,811			12,490,693

Summary of Amortized Cost Balance of Financial Assets Considered Collateral Dependent

This table provides the amortized cost balance of financial assets considered collateral dependent as of March 31, 2020 (in thousands):

	March 31, 2020
Loan Segment and Type	Amortized Cost of Collateral Dependent Assets		Related Allowance for Credit Losses		Amortized Cost of Collateral Dependent Assets with no related Allowance
Commercial and industrial:
Equipment/Accounts Receivable/Inventory	$	34,636	$	6,607	$	14,125
Agriculture		7,977		—		7,977
Total Commercial and industrial		42,613		6,607		22,102
Specialty lending:
Asset-based lending		907		—		907
Factoring		548		41		104
Total Specialty lending		1,455		41		1,011
Commercial real estate:
Owner-occupied		32,561		21		27,389
Non-owner-occupied		1,221		—		1,221
Farmland		9,316		—		9,316
5+ Multi-family		—		—		—
1-4 Family construction		—		—		—
General construction		3,489		595		777
Total Commercial real estate		46,587		616		38,703
Consumer real estate:
HELOC		3,351		—		3,351
First lien: 1-4 family		2,082		—		2,082
Junior lien: 1-4 family		268		81		175
Total Consumer real estate		5,701		81		5,608
Consumer:
Revolving line		124		—		124
Auto		56		—		56
Other		4		—		4
Total Consumer		184		—		184
Leases and other:
Leases		—		—		—
Other		69		—		69
Total Leases and other		69		—		69
Total loans	$	96,609	$	7,345	$	67,677

Analysis of Impaired Loans

The following disclosure is presented under previously applicable GAAP.

This table provides an analysis of impaired loans by class at December 31, 2019 (in thousands):

	As of December 31, 2019
	Unpaid Principal Balance		Recorded Investment with No Allowance		Recorded Investment with Allowance		Total Recorded Investment		Related Allowance		Average Recorded Investment
Commercial:
Commercial	$	32,301	$	20,986	$	856	$	21,842	$	271	$	31,271
Asset-based		948		948		—		948		—		190
Factoring		2,979		2,979		—		2,979		—		3,917
Commercial – credit card		—		—		—		—		—		—
Real estate:
Real estate – construction		97		95		—		95		—		19
Real estate – commercial		28,258		19,314		4,928		24,242		387		19,826
Real estate – residential		1,751		1,617		93		1,710		80		846
Real estate – HELOC		—		—		—		—		—		—
Consumer:
Consumer – credit card		—		—		—		—		—		—
Consumer – other		—		—		—		—		—		70
Leases		—		—		—		—		—		—
Total	$	66,334	$	45,939	$	5,877	$	51,816	$	738	$	56,139