Schedule of Aging Past Due Loans, Segregated by Class of Loans |
An age analysis of past due loans, segregated by class of loans, was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Dollars in thousands) |
|
30-59 days |
|
|
60-89 days |
|
|
Over 90 days |
|
|
Total past due |
|
|
Total current |
|
|
Total loans |
|
September 30, 2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-farm non-residential owner occupied |
|
$ |
592 |
|
|
$ |
770 |
|
|
$ |
9,696 |
|
|
$ |
11,058 |
|
|
$ |
459,164 |
|
|
$ |
470,222 |
|
Non-farm non-residential non-owner occupied |
|
|
— |
|
|
|
— |
|
|
|
68 |
|
|
|
68 |
|
|
|
611,549 |
|
|
|
611,617 |
|
Residential |
|
|
1,103 |
|
|
|
2,690 |
|
|
|
2,914 |
|
|
|
6,707 |
|
|
|
332,851 |
|
|
|
339,558 |
|
Construction, development & other |
|
|
611 |
|
|
|
401 |
|
|
|
1 |
|
|
|
1,013 |
|
|
|
824,289 |
|
|
|
825,302 |
|
Farmland |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
35,650 |
|
|
|
35,650 |
|
Commercial & industrial |
|
|
2,159 |
|
|
|
4,121 |
|
|
|
11,365 |
|
|
|
17,645 |
|
|
|
1,481,657 |
|
|
|
1,499,302 |
|
Consumer |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
2,002 |
|
|
|
2,002 |
|
Municipal and other |
|
|
32 |
|
|
|
23 |
|
|
|
— |
|
|
|
55 |
|
|
|
106,123 |
|
|
|
106,178 |
|
|
|
$ |
4,497 |
|
|
$ |
8,005 |
|
|
$ |
24,044 |
|
|
$ |
36,546 |
|
|
$ |
3,853,285 |
|
|
$ |
3,889,831 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-farm non-residential owner occupied |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,211 |
|
|
$ |
1,211 |
|
|
$ |
519,611 |
|
|
$ |
520,822 |
|
Non-farm non-residential non-owner occupied |
|
|
— |
|
|
|
212 |
|
|
|
1,235 |
|
|
|
1,447 |
|
|
|
585,179 |
|
|
|
586,626 |
|
Residential |
|
|
312 |
|
|
|
495 |
|
|
|
2,938 |
|
|
|
3,745 |
|
|
|
338,844 |
|
|
|
342,589 |
|
Construction, development & other |
|
|
428 |
|
|
|
177 |
|
|
|
247 |
|
|
|
852 |
|
|
|
692,701 |
|
|
|
693,553 |
|
Farmland |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
30,396 |
|
|
|
30,396 |
|
Commercial & industrial |
|
|
4,467 |
|
|
|
659 |
|
|
|
11,688 |
|
|
|
16,814 |
|
|
|
1,246,263 |
|
|
|
1,263,077 |
|
Consumer |
|
|
2 |
|
|
|
— |
|
|
|
— |
|
|
|
2 |
|
|
|
2,553 |
|
|
|
2,555 |
|
Municipal and other |
|
|
88 |
|
|
|
— |
|
|
|
— |
|
|
|
88 |
|
|
|
199,082 |
|
|
|
199,170 |
|
|
|
$ |
5,297 |
|
|
$ |
1,543 |
|
|
$ |
17,319 |
|
|
$ |
24,159 |
|
|
$ |
3,614,629 |
|
|
$ |
3,638,788 |
|
|
Summary of Internal Ratings of Loans |
The following tables summarize the Company’s internal ratings of its loans at September 30, 2024 and December 31, 2023:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Dollars in thousands) |
|
Pass |
|
|
Special Mention |
|
|
Substandard |
|
|
Doubtful |
|
|
Total |
|
September 30, 2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-farm non-residential owner occupied |
|
$ |
443,952 |
|
|
$ |
9,471 |
|
|
$ |
16,799 |
|
|
$ |
— |
|
|
$ |
470,222 |
|
Non-farm non-residential non-owner occupied |
|
|
611,549 |
|
|
|
— |
|
|
|
68 |
|
|
|
— |
|
|
|
611,617 |
|
Residential |
|
|
336,196 |
|
|
|
523 |
|
|
|
2,839 |
|
|
|
— |
|
|
|
339,558 |
|
Construction, development & other |
|
|
820,901 |
|
|
|
4,000 |
|
|
|
401 |
|
|
|
— |
|
|
|
825,302 |
|
Farmland |
|
|
35,650 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
35,650 |
|
Commercial & industrial |
|
|
1,429,685 |
|
|
|
53,178 |
|
|
|
14,939 |
|
|
|
1,500 |
|
|
|
1,499,302 |
|
Consumer |
|
|
2,002 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
2,002 |
|
Municipal and other |
|
|
106,178 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
106,178 |
|
|
|
$ |
3,786,113 |
|
|
$ |
67,172 |
|
|
$ |
35,046 |
|
|
$ |
1,500 |
|
|
$ |
3,889,831 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-farm non-residential owner occupied |
|
$ |
510,811 |
|
|
$ |
5,517 |
|
|
$ |
4,494 |
|
|
$ |
— |
|
|
$ |
520,822 |
|
Non-farm non-residential non-owner occupied |
|
|
580,981 |
|
|
|
4,409 |
|
|
|
1,236 |
|
|
|
— |
|
|
|
586,626 |
|
Residential |
|
|
338,619 |
|
|
|
538 |
|
|
|
3,432 |
|
|
|
— |
|
|
|
342,589 |
|
Construction, development & other |
|
|
692,098 |
|
|
|
1,208 |
|
|
|
247 |
|
|
|
— |
|
|
|
693,553 |
|
Farmland |
|
|
29,547 |
|
|
|
— |
|
|
|
849 |
|
|
|
— |
|
|
|
30,396 |
|
Commercial & industrial |
|
|
1,213,303 |
|
|
|
35,672 |
|
|
|
13,780 |
|
|
|
322 |
|
|
|
1,263,077 |
|
Consumer |
|
|
2,555 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
2,555 |
|
Municipal and other |
|
|
199,170 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
199,170 |
|
|
|
$ |
3,567,084 |
|
|
$ |
47,344 |
|
|
$ |
24,038 |
|
|
$ |
322 |
|
|
$ |
3,638,788 |
|
The following tables summarize the Company's loans by risk grades, loan class and vintage, at September 30, 2024 and December 31, 2023:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Term Loans Amortized Cost Basis by Origination Year |
|
|
Revolving Loans Amortized |
|
|
|
|
(Dollars in thousands) |
|
2024 |
|
|
2023 |
|
|
2022 |
|
|
2021 |
|
|
2020 |
|
|
Prior Years |
|
|
Cost Basis |
|
|
Total |
|
September 30, 2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-farm non-residential owner occupied |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
47,964 |
|
|
$ |
37,117 |
|
|
$ |
135,128 |
|
|
$ |
112,867 |
|
|
$ |
57,080 |
|
|
$ |
50,114 |
|
|
$ |
3,682 |
|
|
$ |
443,952 |
|
Special Mention |
|
|
162 |
|
|
|
94 |
|
|
|
6,912 |
|
|
|
2,303 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
9,471 |
|
Substandard |
|
|
130 |
|
|
|
2,895 |
|
|
|
18 |
|
|
|
4,345 |
|
|
|
5,654 |
|
|
|
2,536 |
|
|
|
1,221 |
|
|
|
16,799 |
|
Total Non-Farm non-residential owner-occupied |
|
$ |
48,256 |
|
|
$ |
40,106 |
|
|
$ |
142,058 |
|
|
$ |
119,515 |
|
|
$ |
62,734 |
|
|
$ |
52,650 |
|
|
$ |
4,903 |
|
|
$ |
470,222 |
|
Non-farm non-residential non-owner occupied |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
66,687 |
|
|
$ |
111,037 |
|
|
$ |
172,169 |
|
|
$ |
201,296 |
|
|
$ |
20,894 |
|
|
$ |
34,767 |
|
|
$ |
4,699 |
|
|
$ |
611,549 |
|
Substandard |
|
|
— |
|
|
|
— |
|
|
|
68 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
68 |
|
Total Non-Farm non-residential non owner-occupied |
|
$ |
66,687 |
|
|
$ |
111,037 |
|
|
$ |
172,237 |
|
|
$ |
201,296 |
|
|
$ |
20,894 |
|
|
$ |
34,767 |
|
|
$ |
4,699 |
|
|
$ |
611,617 |
|
Residential |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
42,245 |
|
|
$ |
88,745 |
|
|
$ |
99,981 |
|
|
$ |
72,073 |
|
|
$ |
17,509 |
|
|
$ |
11,221 |
|
|
$ |
4,422 |
|
|
$ |
336,196 |
|
Special Mention |
|
|
— |
|
|
|
90 |
|
|
|
— |
|
|
|
— |
|
|
|
433 |
|
|
|
— |
|
|
|
— |
|
|
|
523 |
|
Substandard |
|
|
2,191 |
|
|
|
25 |
|
|
|
237 |
|
|
|
384 |
|
|
|
— |
|
|
|
2 |
|
|
|
— |
|
|
|
2,839 |
|
Total Residential |
|
$ |
44,436 |
|
|
$ |
88,860 |
|
|
$ |
100,218 |
|
|
$ |
72,457 |
|
|
$ |
17,942 |
|
|
$ |
11,223 |
|
|
$ |
4,422 |
|
|
$ |
339,558 |
|
Construction, development & other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
83,057 |
|
|
$ |
151,239 |
|
|
$ |
90,405 |
|
|
$ |
56,614 |
|
|
$ |
762 |
|
|
$ |
508 |
|
|
$ |
438,316 |
|
|
$ |
820,901 |
|
Special Mention |
|
|
4,000 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
4,000 |
|
Substandard |
|
|
401 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
401 |
|
Total Construction, development & other |
|
$ |
87,458 |
|
|
$ |
151,239 |
|
|
$ |
90,405 |
|
|
$ |
56,614 |
|
|
$ |
762 |
|
|
$ |
508 |
|
|
$ |
438,316 |
|
|
$ |
825,302 |
|
Farmland |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
4,244 |
|
|
$ |
9,703 |
|
|
$ |
11,223 |
|
|
$ |
1,960 |
|
|
$ |
— |
|
|
$ |
4,224 |
|
|
$ |
4,296 |
|
|
$ |
35,650 |
|
Total Farmland |
|
$ |
4,244 |
|
|
$ |
9,703 |
|
|
$ |
11,223 |
|
|
$ |
1,960 |
|
|
$ |
— |
|
|
$ |
4,224 |
|
|
$ |
4,296 |
|
|
$ |
35,650 |
|
Commercial & industrial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
166,396 |
|
|
$ |
156,677 |
|
|
$ |
139,170 |
|
|
$ |
48,641 |
|
|
$ |
10,223 |
|
|
$ |
9,392 |
|
|
$ |
899,186 |
|
|
$ |
1,429,685 |
|
Special Mention |
|
|
4,999 |
|
|
|
2,672 |
|
|
|
1,203 |
|
|
|
21,025 |
|
|
|
— |
|
|
|
— |
|
|
|
23,279 |
|
|
|
53,178 |
|
Substandard |
|
|
3,603 |
|
|
|
131 |
|
|
|
1,928 |
|
|
|
393 |
|
|
|
— |
|
|
|
1,284 |
|
|
|
7,600 |
|
|
|
14,939 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
1,500 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,500 |
|
Total Commercial & industrial |
|
$ |
174,998 |
|
|
$ |
159,480 |
|
|
$ |
143,801 |
|
|
$ |
70,059 |
|
|
$ |
10,223 |
|
|
$ |
10,676 |
|
|
$ |
930,065 |
|
|
$ |
1,499,302 |
|
Consumer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
68 |
|
|
$ |
844 |
|
|
$ |
468 |
|
|
$ |
83 |
|
|
$ |
94 |
|
|
$ |
108 |
|
|
$ |
337 |
|
|
$ |
2,002 |
|
Total Consumer |
|
$ |
68 |
|
|
$ |
844 |
|
|
$ |
468 |
|
|
$ |
83 |
|
|
$ |
94 |
|
|
$ |
108 |
|
|
$ |
337 |
|
|
$ |
2,002 |
|
Municipal and other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
1,596 |
|
|
$ |
24,626 |
|
|
$ |
9,278 |
|
|
$ |
30,888 |
|
|
$ |
1,830 |
|
|
$ |
216 |
|
|
$ |
37,744 |
|
|
$ |
106,178 |
|
Total Municipal and other |
|
$ |
1,596 |
|
|
$ |
24,626 |
|
|
$ |
9,278 |
|
|
$ |
30,888 |
|
|
$ |
1,830 |
|
|
$ |
216 |
|
|
$ |
37,744 |
|
|
$ |
106,178 |
|
Total Loans |
|
$ |
427,743 |
|
|
$ |
585,895 |
|
|
$ |
669,688 |
|
|
$ |
552,872 |
|
|
$ |
114,479 |
|
|
$ |
114,372 |
|
|
$ |
1,424,782 |
|
|
$ |
3,889,831 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Term Loans Amortized Cost Basis by Origination Year |
|
|
Revolving Loans Amortized |
|
|
|
|
(Dollars in thousands) |
|
2023 |
|
|
2022 |
|
|
2021 |
|
|
2020 |
|
|
2019 |
|
|
Prior Years |
|
|
Cost Basis |
|
|
Total |
|
December 31, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-farm non-residential owner occupied |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
55,172 |
|
|
$ |
179,776 |
|
|
$ |
127,020 |
|
|
$ |
70,984 |
|
|
$ |
33,439 |
|
|
$ |
37,433 |
|
|
$ |
6,987 |
|
|
$ |
510,811 |
|
Special Mention |
|
|
535 |
|
|
|
2,350 |
|
|
|
2,632 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
5,517 |
|
Substandard |
|
|
157 |
|
|
|
41 |
|
|
|
984 |
|
|
|
— |
|
|
|
2,190 |
|
|
|
659 |
|
|
|
463 |
|
|
|
4,494 |
|
Total Non-Farm non-residential owner-occupied |
|
$ |
55,864 |
|
|
$ |
182,167 |
|
|
$ |
130,636 |
|
|
$ |
70,984 |
|
|
$ |
35,629 |
|
|
$ |
38,092 |
|
|
$ |
7,450 |
|
|
$ |
520,822 |
|
Non-farm non-residential non-owner occupied |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
105,084 |
|
|
$ |
180,054 |
|
|
$ |
212,484 |
|
|
$ |
26,559 |
|
|
$ |
23,112 |
|
|
$ |
25,486 |
|
|
$ |
8,202 |
|
|
$ |
580,981 |
|
Special Mention |
|
|
4,197 |
|
|
|
— |
|
|
|
— |
|
|
|
212 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
4,409 |
|
Substandard |
|
|
— |
|
|
|
88 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,148 |
|
|
|
— |
|
|
|
1,236 |
|
Total Non-Farm non-residential non owner-occupied |
|
$ |
109,281 |
|
|
$ |
180,142 |
|
|
$ |
212,484 |
|
|
$ |
26,771 |
|
|
$ |
23,112 |
|
|
$ |
26,634 |
|
|
$ |
8,202 |
|
|
$ |
586,626 |
|
Residential |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
97,867 |
|
|
$ |
112,138 |
|
|
$ |
86,117 |
|
|
$ |
19,178 |
|
|
$ |
10,027 |
|
|
$ |
7,275 |
|
|
$ |
6,017 |
|
|
$ |
338,619 |
|
Special Mention |
|
|
94 |
|
|
|
— |
|
|
|
— |
|
|
|
444 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
538 |
|
Substandard |
|
|
2,734 |
|
|
|
253 |
|
|
|
437 |
|
|
|
— |
|
|
|
— |
|
|
|
8 |
|
|
|
— |
|
|
|
3,432 |
|
Total Residential |
|
$ |
100,695 |
|
|
$ |
112,391 |
|
|
$ |
86,554 |
|
|
$ |
19,622 |
|
|
$ |
10,027 |
|
|
$ |
7,283 |
|
|
$ |
6,017 |
|
|
$ |
342,589 |
|
Construction, development & other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
136,888 |
|
|
$ |
110,486 |
|
|
$ |
55,938 |
|
|
$ |
785 |
|
|
$ |
86 |
|
|
$ |
529 |
|
|
$ |
387,386 |
|
|
$ |
692,098 |
|
Special Mention |
|
|
— |
|
|
|
— |
|
|
|
1,208 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,208 |
|
Substandard |
|
|
244 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
3 |
|
|
|
— |
|
|
|
247 |
|
Total Construction, development & other |
|
$ |
137,132 |
|
|
$ |
110,486 |
|
|
$ |
57,146 |
|
|
$ |
785 |
|
|
$ |
86 |
|
|
$ |
532 |
|
|
$ |
387,386 |
|
|
$ |
693,553 |
|
Farmland |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
11,030 |
|
|
$ |
11,328 |
|
|
$ |
2,070 |
|
|
$ |
96 |
|
|
$ |
3,619 |
|
|
$ |
818 |
|
|
$ |
586 |
|
|
$ |
29,547 |
|
Substandard |
|
|
— |
|
|
|
849 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
849 |
|
Total Farmland |
|
$ |
11,030 |
|
|
$ |
12,177 |
|
|
$ |
2,070 |
|
|
$ |
96 |
|
|
$ |
3,619 |
|
|
$ |
818 |
|
|
$ |
586 |
|
|
$ |
30,396 |
|
Commercial & industrial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
221,392 |
|
|
$ |
49,536 |
|
|
$ |
79,690 |
|
|
$ |
16,843 |
|
|
$ |
14,576 |
|
|
$ |
1,321 |
|
|
$ |
829,945 |
|
|
$ |
1,213,303 |
|
Special Mention |
|
|
4,284 |
|
|
|
4,068 |
|
|
|
23,916 |
|
|
|
467 |
|
|
|
21 |
|
|
|
55 |
|
|
|
2,861 |
|
|
|
35,672 |
|
Substandard |
|
|
483 |
|
|
|
3,783 |
|
|
|
4,461 |
|
|
|
1,276 |
|
|
|
1,377 |
|
|
|
82 |
|
|
|
2,318 |
|
|
|
13,780 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
322 |
|
|
|
— |
|
|
|
— |
|
|
|
322 |
|
Total Commercial & industrial |
|
$ |
226,159 |
|
|
$ |
57,387 |
|
|
$ |
108,067 |
|
|
$ |
18,586 |
|
|
$ |
16,296 |
|
|
$ |
1,458 |
|
|
$ |
835,124 |
|
|
$ |
1,263,077 |
|
Consumer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
1,061 |
|
|
$ |
670 |
|
|
$ |
147 |
|
|
$ |
183 |
|
|
$ |
121 |
|
|
$ |
33 |
|
|
$ |
340 |
|
|
$ |
2,555 |
|
Total Consumer |
|
$ |
1,061 |
|
|
$ |
670 |
|
|
$ |
147 |
|
|
$ |
183 |
|
|
$ |
121 |
|
|
$ |
33 |
|
|
$ |
340 |
|
|
$ |
2,555 |
|
Municipal and other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
86,998 |
|
|
$ |
15,406 |
|
|
$ |
33,060 |
|
|
$ |
3,812 |
|
|
$ |
1,011 |
|
|
$ |
14 |
|
|
$ |
58,869 |
|
|
$ |
199,170 |
|
Total Municipal and other |
|
$ |
86,998 |
|
|
$ |
15,406 |
|
|
$ |
33,060 |
|
|
$ |
3,812 |
|
|
$ |
1,011 |
|
|
$ |
14 |
|
|
$ |
58,869 |
|
|
$ |
199,170 |
|
Total Loans |
|
$ |
728,220 |
|
|
$ |
670,826 |
|
|
$ |
630,164 |
|
|
$ |
140,839 |
|
|
$ |
89,901 |
|
|
$ |
74,864 |
|
|
$ |
1,303,974 |
|
|
$ |
3,638,788 |
|
The following tables summarize the Company's gross charge-offs by origination year and loan class for the nine months ended September 30, 2024 and the year ended December 31, 2023.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Charge-offs by Origination Year |
|
|
|
|
(Dollars in thousands) |
|
2024 |
|
|
2023 |
|
|
2022 |
|
|
2021 |
|
|
2020 |
|
|
Prior Years |
|
|
Total |
|
September 30, 2024: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-farm non-residential non-owner occupied |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(598 |
) |
|
$ |
(598 |
) |
Commercial & industrial |
|
|
— |
|
|
|
— |
|
|
|
(233 |
) |
|
|
(104 |
) |
|
|
(1,198 |
) |
|
|
(1,243 |
) |
|
|
(2,778 |
) |
Municipal and other |
|
|
— |
|
|
|
(12 |
) |
|
|
(17 |
) |
|
|
(15 |
) |
|
|
— |
|
|
|
— |
|
|
|
(44 |
) |
Total Charge-Offs |
|
$ |
— |
|
|
$ |
(12 |
) |
|
$ |
(250 |
) |
|
$ |
(119 |
) |
|
$ |
(1,198 |
) |
|
$ |
(1,841 |
) |
|
$ |
(3,420 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Charge-offs by Origination Year |
|
|
|
|
(Dollars in thousands) |
|
2023 |
|
|
2022 |
|
|
2021 |
|
|
2020 |
|
|
2019 |
|
|
Prior Years |
|
|
Total |
|
December 31, 2023: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial & industrial |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(181 |
) |
|
$ |
(1,523 |
) |
|
$ |
(120 |
) |
|
$ |
(1,824 |
) |
Consumer |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(19 |
) |
|
|
(19 |
) |
Municipal and other |
|
|
(10 |
) |
|
|
(6 |
) |
|
|
(2 |
) |
|
|
(2 |
) |
|
|
— |
|
|
|
— |
|
|
|
(20 |
) |
Total Charge-Offs |
|
$ |
(10 |
) |
|
$ |
(6 |
) |
|
$ |
(2 |
) |
|
$ |
(183 |
) |
|
$ |
(1,523 |
) |
|
$ |
(139 |
) |
|
$ |
(1,863 |
) |
|
Schedule of Allowance for Credit Losses |
The following table presents details of the allowance for credit losses on loans by portfolio segment as of September 30, 2024 and December 31, 2023:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Dollars in thousands) |
|
Non-Farm Non-Residential Owner Occupied |
|
|
Non-Farm Non-Residential Non-Owner Occupied |
|
|
Residential |
|
|
Construction, Development & Other |
|
|
Farmland |
|
|
Commercial & Industrial |
|
|
Consumer |
|
|
Municipal and Other |
|
|
Total |
|
September 30, 2024: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Modeled expected credit losses |
|
$ |
2,273 |
|
|
$ |
2,913 |
|
|
$ |
1,523 |
|
|
$ |
6,895 |
|
|
$ |
177 |
|
|
$ |
9,821 |
|
|
$ |
7 |
|
|
$ |
375 |
|
|
$ |
23,984 |
|
Q-Factor and other qualitative adjustments |
|
|
855 |
|
|
|
1,345 |
|
|
|
494 |
|
|
|
7,268 |
|
|
|
34 |
|
|
|
3,316 |
|
|
|
3 |
|
|
|
142 |
|
|
|
13,457 |
|
Specific allocations |
|
|
175 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
2,067 |
|
|
|
— |
|
|
|
— |
|
|
|
2,242 |
|
|
|
$ |
3,303 |
|
|
$ |
4,258 |
|
|
$ |
2,017 |
|
|
$ |
14,163 |
|
|
$ |
211 |
|
|
$ |
15,204 |
|
|
$ |
10 |
|
|
$ |
517 |
|
|
$ |
39,683 |
|
December 31, 2023: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Modeled expected credit losses |
|
$ |
2,324 |
|
|
$ |
2,569 |
|
|
$ |
1,474 |
|
|
$ |
3,557 |
|
|
$ |
166 |
|
|
$ |
6,400 |
|
|
$ |
8 |
|
|
$ |
596 |
|
|
$ |
17,094 |
|
Q-Factor and other qualitative adjustments |
|
|
1,952 |
|
|
|
2,321 |
|
|
|
867 |
|
|
|
2,296 |
|
|
|
78 |
|
|
|
7,507 |
|
|
|
6 |
|
|
|
505 |
|
|
|
15,532 |
|
Specific allocations |
|
|
35 |
|
|
|
651 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
3,710 |
|
|
|
— |
|
|
|
— |
|
|
|
4,396 |
|
|
|
$ |
4,311 |
|
|
$ |
5,541 |
|
|
$ |
2,341 |
|
|
$ |
5,853 |
|
|
$ |
244 |
|
|
$ |
17,617 |
|
|
$ |
14 |
|
|
$ |
1,101 |
|
|
$ |
37,022 |
|
Management believes the allowance for credit losses is adequate to cover expected credit losses on loans at September 30, 2024 and December 31, 2023. The following tables detail the activity in the allowance for credit losses by portfolio segment for the nine months ended September 30, 2024 and 2023:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Dollars in thousands) |
|
Beginning Balance |
|
|
Provision for Credit Losses on Loans |
|
|
Charge-offs |
|
|
Recoveries |
|
|
Ending Balance |
|
Nine Months Ended September 30, 2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-farm non-residential owner occupied |
|
$ |
4,311 |
|
|
$ |
(1,008 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
3,303 |
|
Non-farm non-residential non-owner occupied |
|
|
5,541 |
|
|
|
(685 |
) |
|
|
(598 |
) |
|
|
— |
|
|
|
4,258 |
|
Residential |
|
|
2,341 |
|
|
|
(324 |
) |
|
|
— |
|
|
|
— |
|
|
|
2,017 |
|
Construction, development & other |
|
|
5,853 |
|
|
|
8,310 |
|
|
|
— |
|
|
|
— |
|
|
|
14,163 |
|
Farmland |
|
|
244 |
|
|
|
(33 |
) |
|
|
— |
|
|
|
— |
|
|
|
211 |
|
Commercial & industrial |
|
|
17,617 |
|
|
|
(529 |
) |
|
|
(2,778 |
) |
|
|
894 |
|
|
|
15,204 |
|
Consumer |
|
|
14 |
|
|
|
(5 |
) |
|
|
— |
|
|
|
1 |
|
|
|
10 |
|
Municipal and other |
|
|
1,101 |
|
|
|
(551 |
) |
|
|
(44 |
) |
|
|
11 |
|
|
|
517 |
|
|
|
$ |
37,022 |
|
|
$ |
5,175 |
|
|
$ |
(3,420 |
) |
|
$ |
906 |
|
|
$ |
39,683 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Dollars in thousands) |
|
Beginning Balance |
|
|
CECL Adoption Adjustment |
|
|
Provision for Credit Losses on Loans |
|
|
Charge-offs |
|
|
Recoveries |
|
|
Ending Balance |
|
Nine Months Ended September 30, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-farm non-residential owner occupied |
|
$ |
3,773 |
|
|
$ |
1,324 |
|
|
$ |
(243 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
4,854 |
|
Non-farm non-residential non-owner occupied |
|
|
5,741 |
|
|
|
2,610 |
|
|
|
1,062 |
|
|
|
— |
|
|
|
— |
|
|
|
9,413 |
|
Residential |
|
|
1,064 |
|
|
|
996 |
|
|
|
5 |
|
|
|
— |
|
|
|
— |
|
|
|
2,065 |
|
Construction, development & other |
|
|
3,053 |
|
|
|
1,608 |
|
|
|
(478 |
) |
|
|
— |
|
|
|
— |
|
|
|
4,183 |
|
Farmland |
|
|
82 |
|
|
|
12 |
|
|
|
18 |
|
|
|
— |
|
|
|
— |
|
|
|
112 |
|
Commercial & industrial |
|
|
16,269 |
|
|
|
(2,903 |
) |
|
|
3,031 |
|
|
|
(329 |
) |
|
|
620 |
|
|
|
16,688 |
|
Consumer |
|
|
6 |
|
|
|
4 |
|
|
|
16 |
|
|
|
(19 |
) |
|
|
— |
|
|
|
7 |
|
Municipal and other |
|
|
363 |
|
|
|
349 |
|
|
|
37 |
|
|
|
(4 |
) |
|
|
— |
|
|
|
745 |
|
|
|
$ |
30,351 |
|
|
$ |
4,000 |
|
|
$ |
3,448 |
|
|
$ |
(352 |
) |
|
$ |
620 |
|
|
$ |
38,067 |
|
The following tables detail the activity in the allowance for credit losses by portfolio segment for the three months ended September 30, 2024 and 2023:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Dollars in thousands) |
|
Beginning Balance |
|
|
Provision for Credit Losses on Loans |
|
|
Charge-offs |
|
|
Recoveries |
|
|
Ending Balance |
|
Three Months Ended September 30, 2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-farm non-residential owner occupied |
|
$ |
4,712 |
|
|
$ |
(1,409 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
3,303 |
|
Non-farm non-residential non-owner occupied |
|
|
5,257 |
|
|
|
(999 |
) |
|
|
— |
|
|
|
— |
|
|
|
4,258 |
|
Residential |
|
|
2,490 |
|
|
|
(473 |
) |
|
|
— |
|
|
|
— |
|
|
|
2,017 |
|
Construction, development & other |
|
|
6,436 |
|
|
|
7,727 |
|
|
|
— |
|
|
|
— |
|
|
|
14,163 |
|
Farmland |
|
|
237 |
|
|
|
(26 |
) |
|
|
— |
|
|
|
— |
|
|
|
211 |
|
Commercial & industrial |
|
|
18,286 |
|
|
|
(3,139 |
) |
|
|
(299 |
) |
|
|
356 |
|
|
|
15,204 |
|
Consumer |
|
|
14 |
|
|
|
(4 |
) |
|
|
— |
|
|
|
— |
|
|
|
10 |
|
Municipal and other |
|
|
779 |
|
|
|
(262 |
) |
|
|
— |
|
|
|
— |
|
|
|
517 |
|
|
|
$ |
38,211 |
|
|
$ |
1,415 |
|
|
$ |
(299 |
) |
|
$ |
356 |
|
|
$ |
39,683 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Real estate loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-farm non-residential owner occupied |
|
$ |
5,223 |
|
|
$ |
(369 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
4,854 |
|
Non-farm non-residential non-owner occupied |
|
|
8,775 |
|
|
|
638 |
|
|
|
— |
|
|
|
— |
|
|
|
9,413 |
|
Residential |
|
|
2,142 |
|
|
|
(77 |
) |
|
|
— |
|
|
|
— |
|
|
|
2,065 |
|
Construction, development & other |
|
|
4,312 |
|
|
|
(129 |
) |
|
|
— |
|
|
|
— |
|
|
|
4,183 |
|
Farmland |
|
|
97 |
|
|
|
15 |
|
|
|
— |
|
|
|
— |
|
|
|
112 |
|
Commercial & industrial |
|
|
15,722 |
|
|
|
988 |
|
|
|
(28 |
) |
|
|
6 |
|
|
|
16,688 |
|
Consumer |
|
|
10 |
|
|
|
(3 |
) |
|
|
— |
|
|
|
— |
|
|
|
7 |
|
Municipal and other |
|
|
962 |
|
|
|
(215 |
) |
|
|
(2 |
) |
|
|
— |
|
|
|
745 |
|
|
|
$ |
37,243 |
|
|
$ |
848 |
|
|
$ |
(30 |
) |
|
$ |
6 |
|
|
$ |
38,067 |
|
|