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LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables)
 12 Months Ended
Dec. 31, 2022
Receivables [Abstract]  
Schedule of Accounts Notes Loans and Financial Receivables
Loans are stated at amortized cost. Balances within the major loans receivable categories are presented in the following table.
December 31,
(dollars in thousands)20222021
Commercial, financial and agricultural$2,679,403 $1,875,993 
Consumer384,037 191,298 
Indirect automobile108,648 265,779 
Mortgage warehouse1,038,924 787,837 
Municipal509,151 572,701 
Premium finance1,023,479 798,409 
Real estate – construction and development2,086,438 1,452,339 
Real estate – commercial and farmland7,604,867 6,834,917 
Real estate – residential4,420,306 3,094,985 
 $19,855,253 $15,874,258 
Schedule of Financial Receivable Nonaccrual Basis
The following table presents an analysis of loans accounted for on a nonaccrual basis:
December 31,
(dollars in thousands)20222021
Commercial, financial and agricultural$11,094 $14,214 
Consumer420 476 
Indirect automobile346 947 
Real estate – construction and development523 492 
Real estate – commercial and farmland13,203 15,365 
Real estate – residential (1)
109,222 53,772 
 $134,808 $85,266 
(1) Included in real estate - residential were $69.6 million and $30.4 million of serviced GNMA-guaranteed nonaccrual loans at December 31, 2022 and 2021, respectively.
The following table presents an analysis of nonaccrual loans with no related allowance for credit losses:
(dollars in thousands)December 31,
2022		December 31,
2021
Commercial, financial and agricultural$33 $262 
Real estate – construction and development— 209 
Real estate – commercial and farmland1,464 2,015 
Real estate – residential58,734 29,556 
$60,231 $32,042 
The following table presents an analysis of collateral-dependent financial assets and related allowance for credit losses:
(dollars in thousands)December 31, 2022December 31, 2021
BalanceAllowance for Credit LossesBalanceAllowance for Credit Losses
Commercial, financial and agricultural$7,128 $6,294 $2,613 $723 
Premium finance3,233 — 2,989 30 
Real estate – construction and development780 13 1,432 45 
Real estate – commercial and farmland15,168 1,428 33,332 6,646 
Real estate – residential15,464 2,066 11,712 453 
$41,773 $9,801 $52,078 $7,897 
Schedule of Past Due Financial Receivables
The following tables present an analysis of past-due loans as of December 31, 2022 and 2021:
(dollars in thousands)Loans
30-59
Days Past
Due		Loans
60-89
Days
Past Due		Loans 90
or More
Days Past
Due		Total
Loans
Past Due		Current
Loans		Total
Loans		Loans 90
Days or
More Past
Due and
Still
Accruing
December 31, 2022       
Commercial, financial and agricultural$16,219 $5,451 $11,632 $33,302 $2,646,101 $2,679,403 $3,267 
Consumer2,539 3,163 741 6,443 377,594 384,037 472 
Indirect automobile466 77 267 810 107,838 108,648 — 
Mortgage warehouse— — — — 1,038,924 1,038,924 — 
Municipal— — — — 509,151 509,151 — 
Premium finance13,859 10,620 13,626 38,105 985,374 1,023,479 13,626 
Real estate – construction and development25,367 3,829 966 30,162 2,056,276 2,086,438 500 
Real estate – commercial and farmland1,738 168 10,223 12,129 7,592,738 7,604,867 — 
Real estate – residential35,015 11,329 106,170 152,514 4,267,792 4,420,306 — 
Total$95,203 $34,637 $143,625 $273,465 $19,581,788 $19,855,253 $17,865 
(dollars in thousands)Loans
30-59
Days Past
Due		Loans
60-89
Days
Past Due		Loans 90
or More
Days Past
Due		Total
Loans
Past Due		Current
Loans		Total
Loans		Loans 90
Days or
More Past
Due and
Still
Accruing
December 31, 2021       
Commercial, financial and agricultural$3,431 $2,005 $12,017 $17,453 $1,858,540 $1,875,993 $1,165 
Consumer1,786 871 891 3,548 187,750 191,298 584 
Indirect automobile772 185 473 1,430 264,349 265,779 — 
Mortgage warehouse— — — — 787,837 787,837 — 
Municipal— — — — 572,701 572,701 — 
Premium finance6,992 4,340 9,134 20,466 777,943 798,409 9,134 
Real estate – construction and development16,601 1,398 2,190 20,189 1,432,150 1,452,339 1,758 
Real estate – commercial and farmland6,713 1,150 5,924 13,787 6,821,130 6,834,917 7 
Real estate – residential17,729 4,266 49,839 71,834 3,023,151 3,094,985 — 
Total$54,024 $14,215 $80,468 $148,707 $15,725,551 $15,874,258 $12,648 
Schedule of Credit Quality Indicate Financial Receivable The following table presents the loan portfolio's amortized cost by class of financing receivable, risk grade and year of origination (in thousands). Generally, current period renewals of credit are underwritten again at the point of renewal and considered current period originations for purposes of the table below. The Company had an immaterial amount of revolving loans which converted to term loans and the amortized cost basis of those loans is included in the applicable origination year. There were no loans risk graded 8 or 9 at December 31, 2022 and 2021.
Term Loans by Origination YearRevolving Loans Amortized Cost BasisTotal
As of December 31, 2022
20222021202020192018Prior
Commercial, Financial and Agricultural
Risk Grade:
Pass$1,127,120 $526,043 $174,120 $109,091 $56,657 $41,612 $621,784 $2,656,427 
6— 13 94 183 895 1,774 317 3,276 
78,565 1,214 1,182 3,314 545 2,759 2,121 19,700 
Total commercial, financial and agricultural$1,135,685 $527,270 $175,396 $112,588 $58,097 $46,145 $624,222 $2,679,403 
Consumer
Risk Grade:
Pass$41,487 $12,692 $37,906 $23,454 $17,144 $13,825 $236,113 $382,621 
638 — — — — 98 196 332 
768 62 216 106 118 431 83 1,084 
Total consumer$41,593 $12,754 $38,122 $23,560 $17,262 $14,354 $236,392 $384,037 
Indirect Automobile
Risk Grade:
Pass$— $— $— $11,900 $50,749 $45,120 $— $107,769 
6— — — — — 11 — 11 
7— — — 41 149 678 — 868 
Total indirect automobile$— $— $— $11,941 $50,898 $45,809 $— $108,648 
Mortgage Warehouse
Risk Grade:
Pass$— $— $— $— $— $— $990,106 $990,106 
6— — — — — — 22,831 22,831 
7— — — — — — 25,987 25,987 
Total mortgage warehouse$— $— $— $— $— $— $1,038,924 $1,038,924 
Municipal
Risk Grade:
Pass$18,074 $46,809 $188,507 $9,752 $4,358 $241,651 $— $509,151 
Total municipal$18,074 $46,809 $188,507 $9,752 $4,358 $241,651 $— $509,151 
Premium Finance
Risk Grade:
Pass$1,000,214 $9,667 $12 $— $— $— $1,009,893 
713,051 535 — — — — — 13,586 
Total premium finance$1,013,265 $10,202 $12 $— $— $— $— $1,023,479 
Real Estate – Construction and Development
Risk Grade:
Pass$834,831 $793,723 $306,084 $69,596 $7,934 $31,490 $27,474 $2,071,132 
6277 — — — 173 165 — 615 
7— 783 164 5 13,159 580 — 14,691 
Total real estate – construction and development$835,108 $794,506 $306,248 $69,601 $21,266 $32,235 $27,474 $2,086,438 
Term Loans by Origination YearRevolving Loans Amortized Cost BasisTotal
As of December 31, 2022
20222021202020192018Prior
Real Estate – Commercial and Farmland
Risk Grade:
Pass$1,739,021 $1,975,003 $1,085,086 $869,116 $447,311 $1,259,763 $110,848 $7,486,148 
6607 17,974 — 30,841 4,801 18,289 — 72,512 
7387 2,810 3,078 12,007 6,527 21,398 — 46,207 
Total real estate – commercial and farmland$1,740,015 $1,995,787 $1,088,164 $911,964 $458,639 $1,299,450 $110,848 $7,604,867 
Real Estate - Residential
Risk Grade:
Pass$1,524,021 $1,214,724 $548,968 $268,821 $115,693 $393,570 $234,684 $4,300,481 
6236 145 94 688 364 2,910 600 5,037 
76,735 21,283 25,860 27,173 14,396 17,665 1,676 114,788 
Total real estate - residential$1,530,992 $1,236,152 $574,922 $296,682 $130,453 $414,145 $236,960 $4,420,306 
Total Loans
Risk Grade:
Pass$6,284,768 $4,578,661 $2,340,683 $1,361,730 $699,846 $2,027,031 $2,221,009 $19,513,728 
61,158 18,132 188 31,712 6,233 23,247 23,944 104,614 
728,806 26,687 30,500 42,646 34,894 43,511 29,867 236,911 
Total loans$6,314,732 $4,623,480 $2,371,371 $1,436,088 $740,973 $2,093,789 $2,274,820 $19,855,253 

Term Loans by Origination YearRevolving Loans Amortized Cost BasisTotal
As of December 31, 2021
20212020201920182017Prior
Commercial, Financial and Agricultural
Risk Grade:
Pass$903,630 $279,037 $188,810 $118,613 $50,737 $40,376 $262,951 $1,844,154 
6190 — 393 427 368 1,832 1,961 5,171 
79,216 1,268 4,098 1,472 2,566 6,019 2,029 26,668 
Total commercial, financial and agricultural$913,036 $280,305 $193,301 $120,512 $53,671 $48,227 $266,941 $1,875,993 
Consumer
Risk Grade:
Pass$35,781 $59,221 $37,195 $27,266 $9,787 $11,021 $9,437 $189,708 
6— — — — — 135 5 140 
759 283 290 216 103 405 94 1,450 
Total consumer $35,840 $59,504 $37,485 $27,482 $9,890 $11,561 $9,536 $191,298 
Indirect Automobile
Risk Grade:
Pass$— $— $20,276 $101,969 $90,294 $51,468 $— $264,007 
6— — — 24 10 19 — 53 
7— — 55 234 384 1,046 — 1,719 
Total indirect automobile$— $— $20,331 $102,227 $90,688 $52,533 $— $265,779 
Term Loans by Origination YearRevolving Loans Amortized Cost BasisTotal
As of December 31, 2021
20212020201920182017Prior
Mortgage Warehouse
Risk Grade:
Pass$— $— $— $— $— $— $787,837 $787,837 
Total mortgage warehouse$— $— $— $— $— $— $787,837 $787,837 
Municipal
Risk Grade:
Pass$44,727 $219,385 $14,831 $5,494 $109,040 $179,224 $— $572,701 
Total municipal$44,727 $219,385 $14,831 $5,494 $109,040 $179,224 $— $572,701 
Premium Finance
Risk Grade:
Pass$787,884 $1,059 $26 $— $302 $4 $— $789,275 
79,039 95 — — — — — 9,134 
Total premium finance$796,923 $1,154 $26 $— $302 $4 $— $798,409 
Real Estate – Construction and Development
Risk Grade:
Pass$826,094 $290,814 $176,476 $35,773 $24,533 $44,514 $21,267 $1,419,471 
66,527 549 — 15,260 — 2,101 — 24,437 
71,143 678 7 2,476 57 1,011 3,059 8,431 
Total real estate – construction and development$833,764 $292,041 $176,483 $53,509 $24,590 $47,626 $24,326 $1,452,339 
Real Estate – Commercial and Farmland
Risk Grade:
Pass$2,186,291 $1,205,578 $1,119,239 $542,295 $486,477 $1,103,675 $80,379 $6,723,934 
6416 — 1,036 14,760 5,334 21,665 — 43,211 
74,709 2,682 11,109 9,076 4,861 35,315 20 67,772 
Total real estate – commercial and farmland$2,191,416 $1,208,260 $1,131,384 $566,131 $496,672 $1,160,655 $80,399 $6,834,917 
Real Estate - Residential
Risk Grade:
Pass$1,171,008 $638,232 $329,247 $149,990 $108,538 $408,240 $217,982 $3,023,237 
6145 66 1,106 505 356 3,717 49 5,944 
72,405 10,167 21,239 11,376 4,597 13,970 2,050 65,804 
Total real estate - residential$1,173,558 $648,465 $351,592 $161,871 $113,491 $425,927 $220,081 $3,094,985 
Total Loans
Risk Grade:
Pass$5,955,415 $2,693,326 $1,886,100 $981,400 $879,708 $1,838,522 $1,379,853 $15,614,324 
67,278 615 2,535 30,976 6,068 29,469 2,015 78,956 
726,571 15,173 36,798 24,850 12,568 57,766 7,252 180,978 
Total loans$5,989,264 $2,709,114 $1,925,433 $1,037,226 $898,344 $1,925,757 $1,389,120 $15,874,258 
Schedule of Troubled Debt Restructurings by Loan Class
The following table presents the loans by class modified as troubled debt restructurings, which occurred during the year ending December 31, 2022 and 2021.
December 31, 2022December 31, 2021
Loan Class#
Balance
(in thousands)
#
Balance
(in thousands)
Commercial, financial and agricultural3$833 4$401 
Consumer—— 27 
Premium finance4171 —— 
Real estate – construction and development117 —— 
Real estate – commercial and farmland4800 516,197 
Real estate – residential122,801 233,056 
Total24$4,622 34$19,661 
Schedule of Troubled Debt Restructurings On Financing Receivables Payment Default
The following table presents the troubled debt restructurings by class that defaulted (defined as 30 days past due) during the year ending December 31, 2022 and 2021.
December 31, 2022December 31, 2021
Loan Class#
Balance
(in thousands)
#
Balance
(in thousands)
Commercial, financial and agricultural—$— 4$35 
Consumer22 25 
Indirect automobile616 1975 
Real estate – commercial and farmland17 —— 
Real estate – residential304,103 212,177 
Total39$4,128 46$2,292 
Schedule of Troubled Debt Restructuring by Loan Class, Classified Separately under Restructured Terms
The following tables present the amount of troubled debt restructurings by loan class classified separately as accrual and non-accrual at December 31, 2022 and 2021.
As of December 31, 2022Accruing LoansNon-Accruing Loans
Loan Class#
Balance
(in thousands)
#
Balance
(in thousands)
Commercial, financial and agricultural7$835 3$743 
Consumer33 811 
Indirect automobile151533 1655 
Premium finance4171 —— 
Real estate – construction and development2693 117 
Real estate – commercial and farmland167,995 5767 
Real estate – residential20524,166 304,181 
Total388$34,396 63$5,774 
As of December 31, 2021Accruing LoansNon-Accruing Loans
Loan Class#
Balance
(in thousands)
#
Balance
(in thousands)
Commercial, financial and agricultural12$1,286 6$83 
Consumer716 1735 
Indirect automobile2331,037 52273 
Real estate – construction and development4789 113 
Real estate – commercial and farmland2535,575 55,924 
Real estate – residential21326,879 394,678 
Total494$65,582 120$11,006 
Schedule of Changes in Related Party Loans Changes in related party loans are summarized as follows:
December 31,
(dollars in thousands)20222021
Balance, January 1$59,214 $69,395 
Advances36,234 15,212 
Repayments(14,702)(25,393)
Ending balance$80,746 $59,214 
Schedule of Allowances for Loan Losses by Portfolio Segment
The following table details activity in the allowance for credit losses by portfolio segment for the periods indicated. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.
(dollars in thousands)Commercial,
Financial and
Agricultural		ConsumerIndirect AutomobileMortgage WarehouseMunicipalPremium Finance
Balance, December 31, 2021$26,829 $6,097 $476 $3,231 $401 $2,729 
Provision for loan losses21,307 3,360 (1,082)(1,113)(44)(1,317)
Loans charged off(18,635)(4,926)(265)— — (5,452)
Recoveries of loans previously charged off9,954 882 1,045 — — 5,065 
Balance, December 31, 2022$39,455 $5,413 $174 $2,118 $357 $1,025 
Real Estate – Construction and DevelopmentReal Estate –
Commercial and
Farmland		Real Estate –
Residential		Total
Balance, December 31, 2021$22,045 $77,831 $27,943 $167,582 
Provision for loan losses9,749 (7,049)28,799 52,610 
Loans charged off(27)(3,574)(196)(33,075)
Recoveries of loans previously charged off892 225 497 18,560 
Balance, December 31, 2022$32,659 $67,433 $57,043 $205,677 
(dollars in thousands)Commercial,
Financial and
Agricultural		ConsumerIndirect AutomobileMortgage WarehouseMunicipalPremium Finance
Year ended December 31, 2021
Balance, January 1, 2021
$7,359 $4,076 $1,929 $3,666 $791 $3,879 
Initial allowance for PCD assets9,432 — — — — — 
Provision for loan losses12,071 7,330 (1,944)(435)(390)(2,352)
Loans charged off(7,760)(6,248)(1,188)— — (3,668)
Recoveries of loans previously charged off5,727 939 1,679 — — 4,870 
Balance, December 31, 2021$26,829 $6,097 $476 $3,231 $401 $2,729 
Real Estate – Construction and DevelopmentReal Estate –
Commercial and
Farmland		Real Estate –
Residential		Total
Year ended December 31, 2021
Balance, January 1, 2021
$45,304 $88,894 $43,524 $199,422 
Initial allowance for PCD assets— — — 9,432 
Provision for loan losses(23,532)(9,784)(16,045)(35,081)
Loans charged off(233)(1,852)(667)(21,616)
Recoveries of loans previously charged off506 573 1,131 15,425 
Balance, December 31, 2021$22,045 $77,831 $27,943 $167,582 

(dollars in thousands)Commercial,
Financial and
Agricultural		ConsumerIndirect AutomobileMortgage WarehouseMunicipalPremium Finance
Year ended December 31, 2020
Balance, January 1, 2020
$4,567 $3,784 $— $640 $484 $2,550 
Adjustment to allowance for adoption of ASU 2016-132,587 8,012 4,109 463 (92)4,471 
Provision for loan losses8,963 (3,831)(235)2,563 399 (198)
Loans charged off(10,647)(5,642)(3,602)— — (6,133)
Recoveries of loans previously charged off1,889 1,753 1,657 — — 3,189 
Balance, December 31, 2020$7,359 $4,076 $1,929 $3,666 $791 $3,879 
Real Estate – Construction and DevelopmentReal Estate –
Commercial and
Farmland		Real Estate –
Residential		Total
Year ended December 31, 2020
Balance, January 1, 2020
$5,995 $9,666 $10,503 $38,189 
Adjustment to allowance for adoption of ASU 2016-1312,248 27,073 19,790 78,661 
Provision for loan losses26,327 78,210 13,290 125,488 
Loans charged off(83)(27,504)(853)(54,464)
Recoveries of loans previously charged off817 1,449 794 11,548 
Balance, December 31, 2020$45,304 $88,894 $43,524 $199,422 
Schedule of Securities Purchased under Agreements, Allowance for Credit Loss
The Company acquired $952,000 in PCD loans from Balboa during the year ended December 31, 2021. A reconciliation of the purchase price to the par value, or unpaid principal balance ("UPB"), of the assets is below.

(dollars in thousands)Commercial, Financial and Agricultural
Par value (UPB)$10,505 
Allowance for Credit Losses(9,432)
Discount(121)
Purchase Price$952