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Loans and Allowance for Credit Losses on Loans HFI (Tables)
12 Months Ended
Dec. 31, 2023
Receivables [Abstract]  
Schedule of Loans Outstanding by Class of Financing Receivable
Loans outstanding as of December 31, 2023 and 2022, by class of financing receivable are as follows:
December 31,
 2023 2022 
Commercial and industrial$1,720,733 $1,645,783 
Construction1,397,313 1,657,488 
Residential real estate:
1-to-4 family mortgage1,568,552 1,573,121 
Residential line of credit530,912 496,660 
Multi-family mortgage603,804 479,572 
Commercial real estate:
Owner-occupied1,232,071 1,114,580 
Non-owner occupied1,943,525 1,964,010 
Consumer and other411,873 366,998 
Gross loans9,408,783 9,298,212 
Less: Allowance for credit losses on loans HFI(150,326)(134,192)
Net loans$9,258,457 $9,164,020 
Schedule of Credit Quality of Loan Portfolio by Year of Origination
The following tables present the credit quality of the Company's commercial type loan portfolio as of December 31, 2023 and 2022 and the gross charge-offs for the year ended December 31, 2023 by year of origination. Revolving loans are presented separately. Management considers the guidance in ASC 310-20 when determining whether a modification, extension, or renewal constitutes a current period origination. Generally, current period renewals of credit are reunderwritten at the point of renewal and considered current period originations for the purposes of the tables below.
Effective January 1, 2023, the Company adopted the accounting guidance in ASU 2022-02 which requires the presentation of gross charge-offs by year of origination. The Company prospectively adopted ASU 2022-02; therefore, prior period activity of gross charge-offs by year of origination are not included in the below tables.
As of and for the year
    ended December 31, 2023
20232022202120202019PriorRevolving Loans Amortized Cost BasisTotal
Commercial and industrial
Pass$225,734 $255,921 $151,492 $39,897 $70,302 $73,415 $839,918 $1,656,679 
Special Mention— 17,947 3,083 — 151 108 7,549 28,838 
Classified457 4,253 3,075 3,027 254 6,129 18,021 35,216 
Total226,191 278,121 157,650 42,924 70,707 79,652 865,488 1,720,733 
            Current-period gross
               charge-offs
14 201 22 — 87 131 462 
Construction
Pass179,929 677,387 148,312 46,697 39,140 49,954 208,491 1,349,910 
Special Mention4,659 2,943 1,202 — 690 12,000 21,495 
Classified— 2,349 1,484 6,620 — — 15,455 25,908 
Total179,930 684,395 152,739 54,519 39,140 50,644 235,946 1,397,313 
            Current-period gross
               charge-offs
— — — — — — — — 
Residential real estate:
Multi-family mortgage
Pass29,982 151,495 223,889 92,745 29,933 43,479 31,209 602,732 
Special Mention— — — — — — — — 
Classified— — — — — 1,072 — 1,072 
Total29,982 151,495 223,889 92,745 29,933 44,551 31,209 603,804 
             Current-period gross
                charge-offs
— — — — — — — — 
Commercial real estate:
Owner occupied
Pass118,030 261,196 231,241 115,397 151,146 281,253 53,970 1,212,233 
Special Mention— 1,297 1,827 — 154 2,617 — 5,895 
Classified— 6,305 16 — 760 5,789 1,073 13,943 
Total118,030 268,798 233,084 115,397 152,060 289,659 55,043 1,232,071 
            Current-period gross
              charge-offs
— — 144 — — — — 144 
Non-owner occupied
Pass47,026 474,560 478,878 117,429 178,448 580,168 43,577 1,920,086 
Special Mention— — 3,975 — — 10,435 — 14,410 
Classified— — 1,001 — 381 7,647 — 9,029 
Total47,026 474,560 483,854 117,429 178,829 598,250 43,577 1,943,525 
             Current-period gross
                charge-offs
— — — — — — — — 
Total commercial loan types
Pass600,701 1,820,559 1,233,812 412,165 468,969 1,028,269 1,177,165 6,741,640 
Special Mention23,903 11,828 1,202 305 13,850 19,549 70,638 
Classified457 12,907 5,576 9,647 1,395 20,637 34,549 85,168 
Total$601,159 $1,857,369 $1,251,216 $423,014 $470,669 $1,062,756 $1,231,263 $6,897,446 
            Current-period gross
                charge-offs
$14 $$345 $22 $— $87 $131 $606 
As of December 31, 2022
20222021202020192018PriorRevolving Loans Amortized Cost BasisTotal
Commercial and industrial
Pass$396,643 $204,000 $67,231 $90,894 $39,780 $62,816 $762,717 $1,624,081 
Special Mention125 — 160 143 771 2,520 3,726 
Classified65 823 1,916 1,651 273 6,913 6,335 17,976 
Total396,833 204,830 69,147 92,705 40,196 70,500 771,572 1,645,783 
Construction
Pass682,885 495,723 142,233 84,599 17,360 44,326 188,906 1,656,032 
Special Mention— — 15 — — 707 — 722 
Classified80 309 — — — 345 — 734 
Total682,965 496,032 142,248 84,599 17,360 45,378 188,906 1,657,488 
Residential real estate:
Multi-family mortgage
Pass142,912 147,168 96,819 33,547 6,971 37,385 13,604 478,406 
Special Mention— — — — — — — — 
Classified— — — — — 1,166 — 1,166 
Total142,912 147,168 96,819 33,547 6,971 38,551 13,604 479,572 
Commercial real estate:
Owner occupied
Pass237,862 223,883 110,748 148,405 66,101 246,414 57,220 1,090,633 
Special Mention101 683 — 168 2,225 1,258 5,000 9,435 
Classified— 1,293 224 4,589 1,276 7,018 112 14,512 
Total237,963 225,859 110,972 153,162 69,602 254,690 62,332 1,114,580 
Non-owner occupied
Pass467,360 440,319 131,497 159,205 210,752 473,60760,908 1,943,648 
Special Mention— — — — 82 2,459— 2,541 
Classified— 2,258 — 146 3,270 12,147— 17,821 
Total467,360 442,577 131,497 159,351 214,104 488,213 60,908 1,964,010 
Total commercial loan types
Pass1,927,662 1,511,093 548,528 516,650 340,964 864,548 1,083,355 6,792,800 
Special Mention226 690 15 328 2,450 5,195 7,520 16,424 
Classified145 4,683 2,140 6,386 4,819 27,589 6,447 52,209 
Total$1,928,033 $1,516,466 $550,683 $523,364 $348,233 $897,332 $1,097,322 $6,861,433 
The following tables present the credit quality by classification (performing or nonperforming) of the Company's consumer type loan portfolio as of December 31, 2023 and 2022 and the gross charge-offs for the year ended December 31, 2023 by year of origination. Revolving loans are presented separately. Management considers the guidance in ASC 310-20 when determining whether a modification, extension, or renewal constitutes a current period origination. Generally, current period renewals of credit are reunderwritten at the point of renewal and considered current period originations for the purposes of the tables below.
Effective January 1, 2023, the Company adopted the accounting guidance in ASU 2022-02 which requires the presentation of gross charge-offs by year of origination. The Company prospectively adopted ASU 2022-02; therefore, prior period balances for gross charge-offs by year of origination are not included in the below tables.
As of and for the year
     ended December 31, 2023
20232022202120202019PriorRevolving Loans Amortized Cost BasisTotal
Residential real estate:
1-to-4 family mortgage
Performing$198,537 $500,628 $399,338 $145,484 $81,905 $226,587 $— $1,552,479 
Nonperforming76 2,565 4,026 3,846 690 4,870 — 16,073 
Total198,613 503,193 403,364 149,330 82,595 231,457 — 1,568,552 
          Current-period gross
             charge-offs
 18 — — 24 — 46 
Residential line of credit
Performing— — — — — — 528,439 528,439 
Nonperforming— — — — — — 2,473 2,473 
Total— — — — — — 530,912 530,912 
          Current-period gross
             charge-offs
— — — — — — — — 
Consumer and other
Performing104,399 91,557 45,187 34,928 24,040 93,833 6,890 400,834 
Nonperforming528 1,025 2,562 1,819 1,264 3,841 — 11,039 
       Total104,927 92,582 47,749 36,747 25,304 97,674 6,890 411,873 
           Current-period gross
             charge-offs
1,463 564 139 201 110 372 2,851 
Total consumer type loans
Performing302,936 592,185 444,525 180,412 105,945 320,420 535,329 2,481,752 
Nonperforming604 3,590 6,588 5,665 1,954 8,711 2,473 29,585 
        Total$303,540 $595,775 $451,113 $186,077 $107,899 $329,131 $537,802 $2,511,337 
            Current-period gross
             charge-offs
$1,463 $582 $139 $205 $110 $396 $$2,897 
As of December 31, 2022
20222021202020192018PriorRevolving Loans Amortized Cost BasisTotal
Residential real estate:
1-to-4 family mortgage
Performing$568,210 $448,401 $160,715 $93,548 $68,113 $211,019 $— $1,550,006 
Nonperforming1,227 5,163 5,472 1,778 2,044 7,431 — 23,115 
Total569,437 453,564 166,187 95,326 70,157 218,450 — 1,573,121 
Residential line of credit
Performing— — — — — — 495,129 495,129 
Nonperforming— — — — — — 1,531 1,531 
Total— — — — — — 496,660 496,660 
Consumer and other
Performing118,637 56,779 41,008 29,139 26,982 82,318 4,175 359,038 
Nonperforming166 1,396 1,460 906 1,507 2,525 — 7,960 
       Total118,803 58,175 42,468 30,045 28,489 84,843 4,175 366,998 
Total consumer type loans
Performing686,847 505,180 201,723 122,687 95,095 293,337 499,304 2,404,173 
Nonperforming1,393 6,559 6,932 2,684 3,551 9,956 1,531 32,606 
       Total$688,240 $511,739 $208,655 $125,371 $98,646 $303,293 $500,835 $2,436,779 
Schedule of Analysis of Aging by Class of Financing Receivable
The following tables represent an analysis of the aging by class of financing receivable as of December 31, 2023 and 2022:
December 31, 202330-89 days
past due and accruing
interest
90 days or 
more and accruing
interest
Nonaccrual
loans
Loans current
on payments
and accruing
interest
Total
Commercial and industrial$732 $— $21,730 $1,698,271 $1,720,733 
Construction6,579 165 2,872 1,387,697 1,397,313 
Residential real estate:
1-to-4 family mortgage21,768 9,355 6,718 1,530,711 1,568,552 
Residential line of credit2,464 1,337 1,136 525,975 530,912 
Multi-family mortgage— — 32 603,772 603,804 
Commercial real estate:
Owner occupied480 — 3,188 1,228,403 1,232,071 
Non-owner occupied4,059 — 3,351 1,936,115 1,943,525 
Consumer and other10,961 1,836 9,203 389,873 411,873 
Total$47,043 $12,693 $48,230 $9,300,817 $9,408,783 
 
December 31, 202230-89 days
past due and accruing
interest
90 days or 
more and accruing
interest
Nonaccrual
loans
Loans current on payments and accruing interest Total
Commercial and industrial$1,650 $136 $1,307 $1,642,690 $1,645,783 
Construction1,246 — 389 1,655,853 1,657,488 
Residential real estate:
1-to-4 family mortgage15,470 16,639 6,476 1,534,536 1,573,121 
Residential line of credit772 131 1,400 494,357 496,660 
Multi-family mortgage— — 42 479,530 479,572 
Commercial real estate:
Owner occupied1,948 — 5,410 1,107,222 1,114,580 
Non-owner occupied102 — 5,956 1,957,952 1,964,010 
Consumer and other10,108 1,509 6,451 348,930 366,998 
Total$31,296 $18,415 $27,431 $9,221,070 $9,298,212 
Schedule of Amortized Cost, Related Allowance and Interest Income of Non-accrual Loans
December 31, 2023Nonaccrual
with no
related
allowance
Nonaccrual
with
related
allowance
Related
allowance
Year to date Interest Income
Commercial and industrial$3,678 $18,052 $5,011 $2,451 
Construction2,267 605 59 335 
Residential real estate:
1-to-4 family mortgage1,444 5,274 103 410 
Residential line of credit685 451 141 
Multi-family mortgage— 32 
Commercial real estate:
Owner occupied2,920 268 15 514 
Non-owner occupied3,316 35 1,221 
Consumer and other— 9,203 498 1,053 
Total$14,310 $33,920 $5,696 $6,128 
December 31, 2022
Nonaccrual
with no
related
allowance
Nonaccrual
with
related
allowance
Related
allowance
Year to date Interest Income
Commercial and industrial$790 $517 $10 $181 
Construction— 389 28 
Residential real estate:
1-to-4 family mortgage2,834 3,642 78 274 
Residential line of credit1,134 266 136 
Multi-family mortgage41 
Commercial real estate:
Owner occupied5,200 210 232 
Non-owner occupied5,755 201 332 
Consumer and other— 6,451 327 358 
Total$15,714 $11,717 $433 $1,544 
Schedule of Financial Effect of TDRs
The following table presents the financial effect of TDRs recorded during the periods indicated:
Year Ended December 31, 2022Number of loansPre-modification outstanding recorded investment Post-modification outstanding recorded investment Charge offs and specific reserves
Commercial and industrial$612 $522 $— 
Commercial real estate:
Residential real estate:
1-to-4 family mortgage391 707 — 
Residential line of credit49 49 — 
Consumer and other23 23 — 
Total$1,075 $1,301 $— 
Year Ended December 31, 2021Number of loansPre-modification outstanding recorded investmentPost-modification outstanding recorded investmentCharge offs and specific reserves
Commercial and industrial$15,430 $15,430 $446 
Construction— — — — 
Commercial real estate:
Owner occupied5,209 5,209 — 
Non-owner occupied11,997 11,997 — 
Residential real estate:
1-to-4 family mortgage945 945 — 
Residential line of credit485 485 — 
Multi-family mortgage49 49 — 
Total23 $34,115 $34,115 $446 
Schedule of Individually Assessed Allowance for Credit Losses for Collateral Dependent Loans
For loans for which the repayment (based on the Company's assessment) is expected to be provided substantially through the operation or sale of collateral and the borrower is experiencing financial difficulty, the following tables present the loans and the corresponding individually assessed allowance for credit losses by class of financing receivable. Significant changes in individually assessed reserves are due to changes in the valuation of the underlying collateral in addition to changes in accrual and past due status.
December 31, 2023
Type of Collateral
Real EstateFarmlandBusiness AssetsTotalIndividually assessed allowance for credit loss
Commercial and industrial$— $363 $20,599 $20,962 $4,946 
Construction8,224 — — 8,224 30 
Residential real estate:
1-to-4 family mortgage5,317 — — 5,317 129 
Residential line of credit1,245 — — 1,245 10 
Commercial real estate:
Owner occupied1,975 1,160 — 3,135 — 
Non-owner occupied3,316 — — 3,316 — 
Consumer and other112 — — 112 21 
Total$20,189 $1,523 $20,599 $42,311 $5,136 
December 31, 2022
Type of Collateral
Real EstateBusiness AssetsTotalIndividually assessed allowance for credit loss
Commercial and industrial$2,596 $— $2,596 $— 
Residential real estate:
1-to-4 family mortgage4,467 — 4,467 194 
Residential line of credit1,135 — 1,135 — 
Commercial real estate:
Owner occupied5,424 — 5,424 — 
Non-owner occupied5,755 — 5,755 — 
Consumer and other134 — 134 — 
Total$19,511 $— $19,511 $194 
Schedule of Changes in Allowance for Credit Losses on Loans HFI by Class of Financing Receivable
The following tables provide the changes in the allowance for credit losses on loans HFI by class of financing receivable for the years ended December 31, 2023, 2022, and 2021:
 Commercial
and industrial
Construction1-to-4
family
residential
mortgage
Residential
line of credit
Multi-family
residential
mortgage
Commercial
real estate
owner
occupied
Commercial
real estate
non-owner
occupied
Consumer
and other
Total
Year Ended December 31, 2023
Beginning balance -
December 31, 2022
$11,106 $39,808 $26,141 $7,494 $6,490 $7,783 $21,916 $13,454 $134,192 
Provision for (reversal of)
    credit losses on loans
    HFI
8,682 (4,446)310 1,973 2,352 2,905 (784)5,746 16,738 
Recoveries of loans
previously charged-off
273 10 100 — 109 1,833 573 2,899 
Loans charged off(462)— (46)— — (144)— (2,851)(3,503)
Ending balance -
December 31, 2023
$19,599 $35,372 $26,505 $9,468 $8,842 $10,653 $22,965 $16,922 $150,326 
 Commercial
and industrial
Construction1-to-4
family
residential
mortgage
Residential
line of credit
Multi-family
residential
mortgage
Commercial
real estate
owner
occupied
Commercial
real estate
non-owner
occupied
Consumer
and other
Total
Year Ended December 31, 2022 
Beginning balance -
December 31, 2021
$15,751 $28,576 $19,104 $5,903 $6,976 $12,593 $25,768 $10,888 $125,559 
(Reversal of) provision for
    credit losses on loans
    HFI
(4,563)11,221 7,060 1,574 (486)(4,883)(3,584)4,054 10,393 
Recoveries of loans
previously charged-off
2,005 11 54 17 — 88 — 766 2,941 
Loans charged off(2,087)— (77)— — (15)(268)(2,254)(4,701)
Ending balance -
December 31, 2022
$11,106 $39,808 $26,141 $7,494 $6,490 $7,783 $21,916 $13,454 $134,192 
 Commercial
and industrial
Construction1-to-4
family
residential
mortgage
Residential
line of credit
Multi-family
residential
mortgage
Commercial
real estate
owner
occupied
Commercial
real estate
non-owner
occupied
Consumer
and other
Total
Year Ended December 31, 2021 
Beginning balance -
December 31, 2020
$14,748 $58,477 $19,220 $10,534 $7,174 $4,849 $44,147 $11,240 $170,389 
Provision for (reversal of)
    credit losses on loans
    HFI
4,178 (29,874)(87)(4,728)(197)7,588 (16,813)938 (38,995)
Recoveries of loans
previously charged-off
861 125 115 — 156 — 773 2,033 
Loans charged off(4,036)(30)(154)(18)(1)— (1,566)(2,063)(7,868)
Ending balance -
 December 31, 2021
$15,751 $28,576 $19,104 $5,903 $6,976 $12,593 $25,768 $10,888 $125,559