Loans Held for Investment (LHFI) and Allowance for Loan Losses, LHFI (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
|---|
| Accounts Notes Loans And Financing Receivable Gross Allowance And Net [Abstract] |
|
| Loan Portfolio Held for Investment |
At December 31, 2019 and 2018, LHFI consisted of the following ($ in thousands):
|
|
|
December 31, |
|
|
|
|
2019 |
|
|
2018 |
|
|
Loans secured by real estate: |
|
|
|
|
|
|
|
|
|
Construction, land development and other land |
|
$ |
1,162,791 |
|
|
$ |
1,056,601 |
|
|
Secured by 1-4 family residential properties |
|
|
1,855,913 |
|
|
|
1,825,492 |
|
|
Secured by nonfarm, nonresidential properties |
|
|
2,475,245 |
|
|
|
2,220,914 |
|
|
Other real estate secured |
|
|
724,480 |
|
|
|
543,820 |
|
|
Commercial and industrial loans |
|
|
1,477,896 |
|
|
|
1,538,715 |
|
|
Consumer loans |
|
|
175,738 |
|
|
|
182,448 |
|
|
State and other political subdivision loans |
|
|
967,944 |
|
|
|
973,818 |
|
|
Other loans |
|
|
495,621 |
|
|
|
494,060 |
|
|
LHFI |
|
|
9,335,628 |
|
|
|
8,835,868 |
|
|
Less allowance for loan losses, LHFI |
|
|
84,277 |
|
|
|
79,290 |
|
|
Net LHFI |
|
$ |
9,251,351 |
|
|
$ |
8,756,578 |
|
|
| Aging Analysis of Past Due and Nonaccrual LHFI by Loan Type |
The following tables provide an aging analysis of past due and nonaccrual LHFI by loan type at December 31, 2019 and 2018 ($ in thousands):
|
|
|
December 31, 2019 |
|
|
|
|
Past Due |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
90 Days |
|
|
|
|
|
|
|
|
|
|
Current |
|
|
|
|
|
|
|
|
30-59 Days |
|
|
60-89 Days |
|
|
or More (1) |
|
|
Total |
|
|
Nonaccrual |
|
|
Loans |
|
|
Total LHFI |
|
|
Loans secured by real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land development and
other land |
|
$ |
380 |
|
|
$ |
256 |
|
|
$ |
— |
|
|
$ |
636 |
|
|
$ |
897 |
|
|
$ |
1,161,258 |
|
|
$ |
1,162,791 |
|
|
Secured by 1-4 family residential properties |
|
|
5,254 |
|
|
|
940 |
|
|
|
211 |
|
|
|
6,405 |
|
|
|
16,810 |
|
|
|
1,832,698 |
|
|
|
1,855,913 |
|
|
Secured by nonfarm, nonresidential
properties |
|
|
1,698 |
|
|
|
— |
|
|
|
— |
|
|
|
1,698 |
|
|
|
7,700 |
|
|
|
2,465,847 |
|
|
|
2,475,245 |
|
|
Other real estate secured |
|
|
8 |
|
|
|
— |
|
|
|
— |
|
|
|
8 |
|
|
|
1,032 |
|
|
|
723,440 |
|
|
|
724,480 |
|
|
Commercial and industrial loans |
|
|
617 |
|
|
|
12 |
|
|
|
39 |
|
|
|
668 |
|
|
|
21,775 |
|
|
|
1,455,453 |
|
|
|
1,477,896 |
|
|
Consumer loans |
|
|
2,208 |
|
|
|
380 |
|
|
|
392 |
|
|
|
2,980 |
|
|
|
108 |
|
|
|
172,650 |
|
|
|
175,738 |
|
|
State and other political subdivision loans |
|
|
76 |
|
|
|
— |
|
|
|
— |
|
|
|
76 |
|
|
|
4,079 |
|
|
|
963,789 |
|
|
|
967,944 |
|
|
Other loans |
|
|
152 |
|
|
|
4 |
|
|
|
— |
|
|
|
156 |
|
|
|
825 |
|
|
|
494,640 |
|
|
|
495,621 |
|
|
Total |
|
$ |
10,393 |
|
|
$ |
1,592 |
|
|
$ |
642 |
|
|
$ |
12,627 |
|
|
$ |
53,226 |
|
|
$ |
9,269,775 |
|
|
$ |
9,335,628 |
|
|
(1) |
Past due 90 days or more but still accruing interest. |
|
|
|
December 31, 2018 |
|
|
|
|
Past Due |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
90 Days |
|
|
|
|
|
|
|
|
|
|
Current |
|
|
|
|
|
|
|
|
30-59 Days |
|
|
60-89 Days |
|
|
or More (1) |
|
|
Total |
|
|
Nonaccrual |
|
|
Loans |
|
|
Total LHFI |
|
|
Loans secured by real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land development and
other land |
|
$ |
284 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
284 |
|
|
$ |
2,218 |
|
|
$ |
1,054,099 |
|
|
$ |
1,056,601 |
|
|
Secured by 1-4 family residential properties |
|
|
8,600 |
|
|
|
1,700 |
|
|
|
569 |
|
|
|
10,869 |
|
|
|
14,718 |
|
|
|
1,799,905 |
|
|
|
1,825,492 |
|
|
Secured by nonfarm, nonresidential
properties |
|
|
1,887 |
|
|
|
— |
|
|
|
— |
|
|
|
1,887 |
|
|
|
9,621 |
|
|
|
2,209,406 |
|
|
|
2,220,914 |
|
|
Other real estate secured |
|
|
197 |
|
|
|
99 |
|
|
|
— |
|
|
|
296 |
|
|
|
927 |
|
|
|
542,597 |
|
|
|
543,820 |
|
|
Commercial and industrial loans |
|
|
1,346 |
|
|
|
300 |
|
|
|
— |
|
|
|
1,646 |
|
|
|
23,938 |
|
|
|
1,513,131 |
|
|
|
1,538,715 |
|
|
Consumer loans |
|
|
1,800 |
|
|
|
353 |
|
|
|
287 |
|
|
|
2,440 |
|
|
|
205 |
|
|
|
179,803 |
|
|
|
182,448 |
|
|
State and other political subdivision loans |
|
|
186 |
|
|
|
— |
|
|
|
— |
|
|
|
186 |
|
|
|
8,595 |
|
|
|
965,037 |
|
|
|
973,818 |
|
|
Other loans |
|
|
83 |
|
|
|
— |
|
|
|
— |
|
|
|
83 |
|
|
|
1,402 |
|
|
|
492,575 |
|
|
|
494,060 |
|
|
Total |
|
$ |
14,383 |
|
|
$ |
2,452 |
|
|
$ |
856 |
|
|
$ |
17,691 |
|
|
$ |
61,624 |
|
|
$ |
8,756,553 |
|
|
$ |
8,835,868 |
|
|
(1) |
Past due 90 days or more but still accruing interest. |
|
| Impaired Financing Receivables |
At December 31, 2019 and 2018, individually evaluated for impaired LHFI consisted of the following ($ in thousands):
|
|
|
December 31, 2019 |
|
|
|
|
LHFI |
|
|
|
|
|
|
|
|
|
|
|
|
Unpaid |
|
|
With No Related |
|
|
With an |
|
|
Total |
|
|
|
|
|
|
Average |
|
|
|
|
Principal |
|
|
Allowance |
|
|
Allowance |
|
|
Carrying |
|
|
Related |
|
|
Recorded |
|
|
|
|
Balance |
|
|
Recorded |
|
|
Recorded |
|
|
Amount |
|
|
Allowance |
|
|
Investment |
|
|
Loans secured by real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land development and other land |
|
$ |
926 |
|
|
$ |
610 |
|
|
$ |
16 |
|
|
$ |
626 |
|
|
$ |
— |
|
|
$ |
1,089 |
|
|
Secured by 1-4 family residential properties |
|
|
6,513 |
|
|
|
2,104 |
|
|
|
3,360 |
|
|
|
5,464 |
|
|
|
35 |
|
|
|
4,713 |
|
|
Secured by nonfarm, nonresidential properties |
|
|
7,295 |
|
|
|
1,462 |
|
|
|
5,255 |
|
|
|
6,717 |
|
|
|
2,355 |
|
|
|
8,096 |
|
|
Other real estate secured |
|
|
69 |
|
|
|
— |
|
|
|
68 |
|
|
|
68 |
|
|
|
— |
|
|
|
158 |
|
|
Commercial and industrial loans |
|
|
27,178 |
|
|
|
19,374 |
|
|
|
4,084 |
|
|
|
23,458 |
|
|
|
707 |
|
|
|
27,088 |
|
|
Consumer loans |
|
|
22 |
|
|
|
— |
|
|
|
21 |
|
|
|
21 |
|
|
|
— |
|
|
|
11 |
|
|
State and other political subdivision loans |
|
|
4,079 |
|
|
|
— |
|
|
|
4,079 |
|
|
|
4,079 |
|
|
|
1,809 |
|
|
|
6,337 |
|
|
Other loans |
|
|
1,207 |
|
|
|
— |
|
|
|
784 |
|
|
|
784 |
|
|
|
553 |
|
|
|
1,033 |
|
|
Total |
|
$ |
47,289 |
|
|
$ |
23,550 |
|
|
$ |
17,667 |
|
|
$ |
41,217 |
|
|
$ |
5,459 |
|
|
$ |
48,525 |
|
|
|
|
December 31, 2018 |
|
|
|
|
LHFI |
|
|
|
|
|
|
|
|
|
|
|
|
Unpaid |
|
|
With No Related |
|
|
With an |
|
|
Total |
|
|
|
|
|
|
Average |
|
|
|
|
Principal |
|
|
Allowance |
|
|
Allowance |
|
|
Carrying |
|
|
Related |
|
|
Recorded |
|
|
|
|
Balance |
|
|
Recorded |
|
|
Recorded |
|
|
Amount |
|
|
Allowance |
|
|
Investment |
|
|
Loans secured by real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land development and other land |
|
$ |
1,794 |
|
|
$ |
1,528 |
|
|
$ |
24 |
|
|
$ |
1,552 |
|
|
$ |
— |
|
|
$ |
1,738 |
|
|
Secured by 1-4 family residential properties |
|
|
4,951 |
|
|
|
95 |
|
|
|
3,868 |
|
|
|
3,963 |
|
|
|
39 |
|
|
|
4,328 |
|
|
Secured by nonfarm, nonresidential properties |
|
|
8,282 |
|
|
|
6,728 |
|
|
|
2,748 |
|
|
|
9,476 |
|
|
|
413 |
|
|
|
8,898 |
|
|
Other real estate secured |
|
|
— |
|
|
|
— |
|
|
|
248 |
|
|
|
248 |
|
|
|
— |
|
|
|
124 |
|
|
Commercial and industrial loans |
|
|
37,786 |
|
|
|
12,893 |
|
|
|
17,824 |
|
|
|
30,717 |
|
|
|
4,334 |
|
|
|
26,725 |
|
|
Consumer loans |
|
|
2 |
|
|
|
— |
|
|
|
2 |
|
|
|
2 |
|
|
|
— |
|
|
|
6 |
|
|
State and other political subdivision loans |
|
|
8,688 |
|
|
|
4,079 |
|
|
|
4,516 |
|
|
|
8,595 |
|
|
|
516 |
|
|
|
4,297 |
|
|
Other loans |
|
|
1,418 |
|
|
|
230 |
|
|
|
1,052 |
|
|
|
1,282 |
|
|
|
1,052 |
|
|
|
804 |
|
|
Total |
|
$ |
62,921 |
|
|
$ |
25,553 |
|
|
$ |
30,282 |
|
|
$ |
55,835 |
|
|
$ |
6,354 |
|
|
$ |
46,920 |
|
|
| Impact of Modifications Classified as Troubled Debt Restructurings |
The following tables illustrate the impact of modifications classified as TDRs for the periods presented ($ in thousands):
|
|
|
Year Ended December 31, 2019 |
|
|
Modifications Classified as TDRs |
|
Number of
Contracts |
|
|
Pre-Modification
Outstanding
Recorded
Investment |
|
|
Post-Modification
Outstanding
Recorded
Investment |
|
|
Loans secured by real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Secured by 1-4 family residential properties |
|
|
19 |
|
|
$ |
1,742 |
|
|
$ |
1,738 |
|
|
Secured by nonfarm, nonresidential properties |
|
|
1 |
|
|
|
5,055 |
|
|
|
5,055 |
|
|
Commercial and industrial loans |
|
|
8 |
|
|
|
9,167 |
|
|
|
9,054 |
|
|
Consumer loans |
|
|
2 |
|
|
|
30 |
|
|
|
30 |
|
|
Total |
|
|
30 |
|
|
$ |
15,994 |
|
|
$ |
15,877 |
|
|
|
|
Year Ended December 31, 2018 |
|
|
Modifications Classified as TDRs |
|
Number of
Contracts |
|
|
Pre-Modification
Outstanding
Recorded
Investment |
|
|
Post-Modification
Outstanding
Recorded
Investment |
|
|
Loans secured by real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land development and other land |
|
|
1 |
|
|
$ |
22 |
|
|
$ |
22 |
|
|
Secured by 1-4 family residential properties |
|
|
23 |
|
|
|
2,102 |
|
|
|
1,660 |
|
|
Secured by nonfarm, nonresidential properties |
|
|
2 |
|
|
|
1,780 |
|
|
|
1,780 |
|
|
Commercial and industrial loans |
|
|
23 |
|
|
|
26,970 |
|
|
|
25,862 |
|
|
Consumer loans |
|
|
3 |
|
|
|
4 |
|
|
|
4 |
|
|
Total |
|
|
52 |
|
|
$ |
30,878 |
|
|
$ |
29,328 |
|
|
|
|
Year Ended December 31, 2017 |
|
|
Modifications Classified as TDRs |
|
Number of
Contracts |
|
|
Pre-Modification
Outstanding
Recorded
Investment |
|
|
Post-Modification
Outstanding
Recorded
Investment |
|
|
Loans secured by real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land development and other land |
|
|
1 |
|
|
$ |
341 |
|
|
$ |
325 |
|
|
Secured by 1-4 family residential properties |
|
|
22 |
|
|
|
1,478 |
|
|
|
1,487 |
|
|
Secured by nonfarm, nonresidential properties |
|
|
1 |
|
|
|
426 |
|
|
|
426 |
|
|
Commercial and industrial loans |
|
|
8 |
|
|
|
12,836 |
|
|
|
12,836 |
|
|
Other loans |
|
|
1 |
|
|
|
556 |
|
|
|
556 |
|
|
Total |
|
|
33 |
|
|
$ |
15,637 |
|
|
$ |
15,630 |
|
|
| Troubled Debt Restructuring Subsequently Defaulted |
The table below includes the balances at default for TDRs modified within the last 12 months for which there was a payment default during the periods presented ($ in thousands):
|
|
|
Years Ended December 31, |
|
|
|
|
2019 |
|
|
2018 |
|
|
2017 |
|
|
TDRs that Subsequently Defaulted |
|
Number of
Contracts |
|
|
Recorded
Investment |
|
|
Number of
Contracts |
|
|
Recorded
Investment |
|
|
Number of Contracts |
|
|
Recorded Investment |
|
|
Construction, land development and other land
loans |
|
|
— |
|
|
$ |
— |
|
|
|
1 |
|
|
$ |
22 |
|
|
|
— |
|
|
$ |
— |
|
|
Loans secured by 1-4 family residential properties |
|
|
3 |
|
|
|
446 |
|
|
|
5 |
|
|
|
734 |
|
|
|
4 |
|
|
|
78 |
|
|
Commercial and industrial loans |
|
|
7 |
|
|
|
192 |
|
|
|
6 |
|
|
|
15,178 |
|
|
|
3 |
|
|
|
9,526 |
|
|
Consumer loans |
|
|
1 |
|
|
|
27 |
|
|
|
1 |
|
|
|
1 |
|
|
|
— |
|
|
|
— |
|
|
Total |
|
|
11 |
|
|
$ |
665 |
|
|
|
13 |
|
|
$ |
15,935 |
|
|
|
7 |
|
|
$ |
9,604 |
|
|
| Troubled Debt Restructuring Related to Loans Held for Investment by Loan Type |
The following tables detail LHFI classified as TDRs by loan type at December 31, 2019, 2018 and 2017 ($ in thousands):
|
|
|
December 31, 2019 |
|
|
|
|
Accruing |
|
|
Nonaccrual |
|
|
Total |
|
|
Loans secured by real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land development and other land |
|
$ |
— |
|
|
$ |
15 |
|
|
$ |
15 |
|
|
Secured by 1-4 family residential properties |
|
|
77 |
|
|
|
3,865 |
|
|
|
3,942 |
|
|
Secured by nonfarm, nonresidential properties |
|
|
— |
|
|
|
5,176 |
|
|
|
5,176 |
|
|
Commercial and industrial loans |
|
|
3,319 |
|
|
|
18,913 |
|
|
|
22,232 |
|
|
Consumer loans |
|
|
— |
|
|
|
21 |
|
|
|
21 |
|
|
Other loans |
|
|
— |
|
|
|
137 |
|
|
|
137 |
|
|
Total TDRs |
|
$ |
3,396 |
|
|
$ |
28,127 |
|
|
$ |
31,523 |
|
|
|
|
December 31, 2018 |
|
|
|
|
Accruing |
|
|
Nonaccrual |
|
|
Total |
|
|
Loans secured by real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land development and other land |
|
$ |
— |
|
|
$ |
24 |
|
|
$ |
24 |
|
|
Secured by 1-4 family residential properties |
|
|
743 |
|
|
|
3,125 |
|
|
|
3,868 |
|
|
Secured by nonfarm, nonresidential properties |
|
|
1,734 |
|
|
|
395 |
|
|
|
2,129 |
|
|
Commercial and industrial loans |
|
|
9,007 |
|
|
|
12,620 |
|
|
|
21,627 |
|
|
Consumer loans |
|
|
— |
|
|
|
2 |
|
|
|
2 |
|
|
Other loans |
|
|
— |
|
|
|
540 |
|
|
|
540 |
|
|
Total TDRs |
|
$ |
11,484 |
|
|
$ |
16,706 |
|
|
$ |
28,190 |
|
|
|
|
December 31, 2017 |
|
|
|
|
Accruing |
|
|
Nonaccrual |
|
|
Total |
|
|
Loans secured by real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land development and other land |
|
$ |
— |
|
|
$ |
199 |
|
|
$ |
199 |
|
|
Secured by 1-4 family residential properties |
|
|
51 |
|
|
|
3,140 |
|
|
|
3,191 |
|
|
Secured by nonfarm, nonresidential properties |
|
|
— |
|
|
|
421 |
|
|
|
421 |
|
|
Commercial and industrial loans |
|
|
53 |
|
|
|
19,434 |
|
|
|
19,487 |
|
|
Consumer loans |
|
|
— |
|
|
|
17 |
|
|
|
17 |
|
|
Other loans |
|
|
556 |
|
|
|
— |
|
|
|
556 |
|
|
Total TDRs |
|
$ |
660 |
|
|
$ |
23,211 |
|
|
$ |
23,871 |
|
|
| Carrying Amount of Loans by Credit Quality Indicator |
The tables below present LHFI by loan type and credit quality indicator at December 31, 2019 and 2018 ($ in thousands):
|
|
|
December 31, 2019 |
|
|
|
|
Commercial LHFI |
|
|
|
|
Pass - |
|
|
Special Mention - |
|
|
Substandard - |
|
|
Doubtful - |
|
|
|
|
|
|
|
|
Categories 1-6 |
|
|
Category 7 |
|
|
Category 8 |
|
|
Category 9 |
|
|
Subtotal |
|
|
Loans secured by real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land development and other land |
|
$ |
1,075,146 |
|
|
$ |
— |
|
|
$ |
15,726 |
|
|
$ |
42 |
|
|
$ |
1,090,914 |
|
|
Secured by 1-4 family residential properties |
|
|
116,592 |
|
|
|
45 |
|
|
|
6,355 |
|
|
|
41 |
|
|
|
123,033 |
|
|
Secured by nonfarm, nonresidential properties |
|
|
2,430,761 |
|
|
|
— |
|
|
|
44,001 |
|
|
|
328 |
|
|
|
2,475,090 |
|
|
Other real estate secured |
|
|
721,238 |
|
|
|
— |
|
|
|
2,547 |
|
|
|
— |
|
|
|
723,785 |
|
|
Commercial and industrial loans |
|
|
1,407,837 |
|
|
|
909 |
|
|
|
68,262 |
|
|
|
888 |
|
|
|
1,477,896 |
|
|
Consumer loans |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
State and other political subdivision loans |
|
|
957,948 |
|
|
|
4,650 |
|
|
|
5,346 |
|
|
|
— |
|
|
|
967,944 |
|
|
Other loans |
|
|
469,095 |
|
|
|
3,445 |
|
|
|
16,926 |
|
|
|
30 |
|
|
|
489,496 |
|
|
Total |
|
$ |
7,178,617 |
|
|
$ |
9,049 |
|
|
$ |
159,163 |
|
|
$ |
1,329 |
|
|
$ |
7,348,158 |
|
|
|
|
Consumer LHFI |
|
|
|
|
|
|
|
|
|
|
|
|
Past Due |
|
|
Past Due |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
|
30-89 Days |
|
|
90 Days or More |
|
|
Nonaccrual |
|
|
Subtotal |
|
|
Total LHFI |
|
|
Loans secured by real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land development and other land |
|
$ |
71,413 |
|
|
$ |
332 |
|
|
$ |
— |
|
|
$ |
132 |
|
|
$ |
71,877 |
|
|
$ |
1,162,791 |
|
|
Secured by 1-4 family residential properties |
|
|
1,710,930 |
|
|
|
5,922 |
|
|
|
211 |
|
|
|
15,817 |
|
|
|
1,732,880 |
|
|
|
1,855,913 |
|
|
Secured by nonfarm, nonresidential properties |
|
|
155 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
155 |
|
|
|
2,475,245 |
|
|
Other real estate secured |
|
|
695 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
695 |
|
|
|
724,480 |
|
|
Commercial and industrial loans |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,477,896 |
|
|
Consumer loans |
|
|
172,649 |
|
|
|
2,588 |
|
|
|
393 |
|
|
|
108 |
|
|
|
175,738 |
|
|
|
175,738 |
|
|
State and other political subdivision loans |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
967,944 |
|
|
Other loans |
|
|
6,125 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
6,125 |
|
|
|
495,621 |
|
|
Total |
|
$ |
1,961,967 |
|
|
$ |
8,842 |
|
|
$ |
604 |
|
|
$ |
16,057 |
|
|
$ |
1,987,470 |
|
|
$ |
9,335,628 |
|
|
|
|
December 31, 2018 |
|
|
|
|
Commercial LHFI |
|
|
|
|
Pass - |
|
|
Special Mention - |
|
|
Substandard - |
|
|
Doubtful - |
|
|
|
|
|
|
|
|
Categories 1-6 |
|
|
Category 7 |
|
|
Category 8 |
|
|
Category 9 |
|
|
Subtotal |
|
|
Loans secured by real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land development and other land |
|
$ |
982,305 |
|
|
$ |
75 |
|
|
$ |
5,645 |
|
|
$ |
203 |
|
|
$ |
988,228 |
|
|
Secured by 1-4 family residential properties |
|
|
123,191 |
|
|
|
216 |
|
|
|
2,731 |
|
|
|
229 |
|
|
|
126,367 |
|
|
Secured by nonfarm, nonresidential properties |
|
|
2,182,106 |
|
|
|
1,250 |
|
|
|
37,025 |
|
|
|
473 |
|
|
|
2,220,854 |
|
|
Other real estate secured |
|
|
537,958 |
|
|
|
323 |
|
|
|
4,610 |
|
|
|
— |
|
|
|
542,891 |
|
|
Commercial and industrial loans |
|
|
1,468,262 |
|
|
|
12,431 |
|
|
|
55,943 |
|
|
|
2,079 |
|
|
|
1,538,715 |
|
|
Consumer loans |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
State and other political subdivision loans |
|
|
958,214 |
|
|
|
5,250 |
|
|
|
10,354 |
|
|
|
— |
|
|
|
973,818 |
|
|
Other loans |
|
|
460,568 |
|
|
|
17,842 |
|
|
|
10,323 |
|
|
|
49 |
|
|
|
488,782 |
|
|
Total |
|
$ |
6,712,604 |
|
|
$ |
37,387 |
|
|
$ |
126,631 |
|
|
$ |
3,033 |
|
|
$ |
6,879,655 |
|
|
|
|
Consumer LHFI |
|
|
|
|
|
|
|
|
|
|
|
|
Past Due |
|
|
Past Due |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
|
30-89 Days |
|
|
90 Days or More |
|
|
Nonaccrual |
|
|
Subtotal |
|
|
Total LHFI |
|
|
Loans secured by real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land development and other land |
|
$ |
67,913 |
|
|
$ |
124 |
|
|
$ |
— |
|
|
$ |
336 |
|
|
$ |
68,373 |
|
|
$ |
1,056,601 |
|
|
Secured by 1-4 family residential properties |
|
|
1,675,455 |
|
|
|
9,872 |
|
|
|
569 |
|
|
|
13,229 |
|
|
|
1,699,125 |
|
|
|
1,825,492 |
|
|
Secured by nonfarm, nonresidential properties |
|
|
60 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
60 |
|
|
|
2,220,914 |
|
|
Other real estate secured |
|
|
929 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
929 |
|
|
|
543,820 |
|
|
Commercial and industrial loans |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,538,715 |
|
|
Consumer loans |
|
|
179,802 |
|
|
|
2,153 |
|
|
|
288 |
|
|
|
205 |
|
|
|
182,448 |
|
|
|
182,448 |
|
|
State and other political subdivision loans |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
973,818 |
|
|
Other loans |
|
|
5,278 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
5,278 |
|
|
|
494,060 |
|
|
Total |
|
$ |
1,929,437 |
|
|
$ |
12,149 |
|
|
$ |
857 |
|
|
$ |
13,770 |
|
|
$ |
1,956,213 |
|
|
$ |
8,835,868 |
|
|
| Change in Allowance for Loan Losses |
The following tables detail the balance in the allowance for loan losses, LHFI allocated to each loan type segmented by the impairment evaluation methodology used at December 31, 2019 and 2018 ($ in thousands):
|
|
|
December 31, 2019 |
|
|
|
|
Individually |
|
|
Collectively |
|
|
Total |
|
|
Loans secured by real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land development and other land |
|
$ |
— |
|
|
$ |
8,260 |
|
|
$ |
8,260 |
|
|
Secured by 1-4 family residential properties |
|
|
35 |
|
|
|
8,897 |
|
|
|
8,932 |
|
|
Secured by nonfarm, nonresidential properties |
|
|
2,355 |
|
|
|
23,803 |
|
|
|
26,158 |
|
|
Other real estate secured |
|
|
— |
|
|
|
4,024 |
|
|
|
4,024 |
|
|
Commercial and industrial loans |
|
|
707 |
|
|
|
25,285 |
|
|
|
25,992 |
|
|
Consumer loans |
|
|
— |
|
|
|
3,379 |
|
|
|
3,379 |
|
|
State and other political subdivision loans |
|
|
1,809 |
|
|
|
420 |
|
|
|
2,229 |
|
|
Other loans |
|
|
553 |
|
|
|
4,750 |
|
|
|
5,303 |
|
|
Total allowance for loan losses, LHFI |
|
$ |
5,459 |
|
|
$ |
78,818 |
|
|
$ |
84,277 |
|
|
|
|
December 31, 2018 |
|
|
|
|
Individually |
|
|
Collectively |
|
|
Total |
|
|
Loans secured by real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land development and other land |
|
$ |
— |
|
|
$ |
7,390 |
|
|
$ |
7,390 |
|
|
Secured by 1-4 family residential properties |
|
|
39 |
|
|
|
8,602 |
|
|
|
8,641 |
|
|
Secured by nonfarm, nonresidential properties |
|
|
413 |
|
|
|
21,963 |
|
|
|
22,376 |
|
|
Other real estate secured |
|
|
— |
|
|
|
3,450 |
|
|
|
3,450 |
|
|
Commercial and industrial loans |
|
|
4,334 |
|
|
|
23,025 |
|
|
|
27,359 |
|
|
Consumer loans |
|
|
— |
|
|
|
2,890 |
|
|
|
2,890 |
|
|
State and other political subdivision loans |
|
|
516 |
|
|
|
474 |
|
|
|
990 |
|
|
Other loans |
|
|
1,052 |
|
|
|
5,142 |
|
|
|
6,194 |
|
|
Total allowance for loan losses, LHFI |
|
$ |
6,354 |
|
|
$ |
72,936 |
|
|
$ |
79,290 |
|
Changes in the allowance for loan losses, LHFI were as follows for the periods presented ($ in thousands):
|
|
|
Years Ended December 31, |
|
|
|
|
2019 |
|
|
2018 |
|
|
2017 |
|
|
Balance at beginning of period |
|
$ |
79,290 |
|
|
$ |
76,733 |
|
|
$ |
71,265 |
|
|
Transfers (1) |
|
|
— |
|
|
|
1,554 |
|
|
|
— |
|
|
Loans charged-off |
|
|
(14,481 |
) |
|
|
(29,489 |
) |
|
|
(21,147 |
) |
|
Recoveries |
|
|
8,671 |
|
|
|
12,499 |
|
|
|
11,521 |
|
|
Net (charge-offs) recoveries |
|
|
(5,810 |
) |
|
|
(16,990 |
) |
|
|
(9,626 |
) |
|
Provision for loan losses, LHFI |
|
|
10,797 |
|
|
|
17,993 |
|
|
|
15,094 |
|
|
Balance at end of period |
|
$ |
84,277 |
|
|
$ |
79,290 |
|
|
$ |
76,733 |
|
|
(1) |
The allowance for loan losses balance related to the remaining loans acquired in the Bay Bank, Heritage and Reliance acquisitions, which were transferred from acquired impaired loans to LHFI during 2018. |
The following tables detail changes in the allowance for loan losses, LHFI by loan type for the years ended December 31, 2019 and 2018, respectively ($ in thousands):
|
|
|
2019 |
|
|
|
|
Balance
January 1, |
|
|
|
|
|
|
|
|
|
|
Provision for
Loan Losses |
|
|
Balance
December 31, |
|
|
|
|
|
|
Charge-offs |
|
|
Recoveries |
|
|
|
|
|
|
Loans secured by real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land development and other land |
|
$ |
7,390 |
|
|
$ |
(40 |
) |
|
$ |
894 |
|
|
$ |
16 |
|
|
$ |
8,260 |
|
|
Secured by 1-4 family residential properties |
|
|
8,641 |
|
|
|
(531 |
) |
|
|
666 |
|
|
|
156 |
|
|
|
8,932 |
|
|
Secured by nonfarm, nonresidential properties |
|
|
22,376 |
|
|
|
(322 |
) |
|
|
472 |
|
|
|
3,632 |
|
|
|
26,158 |
|
|
Other real estate secured |
|
|
3,450 |
|
|
|
— |
|
|
|
29 |
|
|
|
545 |
|
|
|
4,024 |
|
|
Commercial and industrial loans |
|
|
27,359 |
|
|
|
(5,344 |
) |
|
|
1,257 |
|
|
|
2,720 |
|
|
|
25,992 |
|
|
Consumer loans |
|
|
2,890 |
|
|
|
(2,278 |
) |
|
|
1,829 |
|
|
|
938 |
|
|
|
3,379 |
|
|
State and other political subdivision loans |
|
|
990 |
|
|
|
— |
|
|
|
— |
|
|
|
1,239 |
|
|
|
2,229 |
|
|
Other loans |
|
|
6,194 |
|
|
|
(5,966 |
) |
|
|
3,524 |
|
|
|
1,551 |
|
|
|
5,303 |
|
|
Total allowance for loan losses, LHFI |
|
$ |
79,290 |
|
|
$ |
(14,481 |
) |
|
$ |
8,671 |
|
|
$ |
10,797 |
|
|
$ |
84,277 |
|
|
|
|
2018 |
|
|
|
|
Balance
January 1, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provision for
Loan Losses |
|
|
Balance
December 31, |
|
|
|
|
|
|
Transfers (1) |
|
|
Charge-offs |
|
|
Recoveries |
|
|
|
|
|
|
Loans secured by real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land development and other land |
|
$ |
7,865 |
|
|
$ |
584 |
|
|
$ |
(123 |
) |
|
$ |
1,124 |
|
|
$ |
(2,060 |
) |
|
$ |
7,390 |
|
|
Secured by 1-4 family residential properties |
|
|
10,874 |
|
|
|
182 |
|
|
|
(1,629 |
) |
|
|
646 |
|
|
|
(1,432 |
) |
|
|
8,641 |
|
|
Secured by nonfarm, nonresidential properties |
|
|
23,428 |
|
|
|
446 |
|
|
|
(1,184 |
) |
|
|
133 |
|
|
|
(447 |
) |
|
|
22,376 |
|
|
Other real estate secured |
|
|
2,790 |
|
|
|
291 |
|
|
|
— |
|
|
|
23 |
|
|
|
346 |
|
|
|
3,450 |
|
|
Commercial and industrial loans |
|
|
22,851 |
|
|
|
46 |
|
|
|
(18,823 |
) |
|
|
5,410 |
|
|
|
17,875 |
|
|
|
27,359 |
|
|
Consumer loans |
|
|
3,470 |
|
|
|
5 |
|
|
|
(2,089 |
) |
|
|
2,019 |
|
|
|
(515 |
) |
|
|
2,890 |
|
|
State and other political subdivision loans |
|
|
789 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
201 |
|
|
|
990 |
|
|
Other loans |
|
|
4,666 |
|
|
|
— |
|
|
|
(5,641 |
) |
|
|
3,144 |
|
|
|
4,025 |
|
|
|
6,194 |
|
|
Total allowance for loan losses, LHFI |
|
$ |
76,733 |
|
|
$ |
1,554 |
|
|
$ |
(29,489 |
) |
|
$ |
12,499 |
|
|
$ |
17,993 |
|
|
$ |
79,290 |
|
|
| Summary Of LHFI Evaluated For Impairment |
The following tables detail LHFI by loan type related to each balance in the allowance for loan losses, LHFI segregated by the impairment evaluation methodology used at December 31, 2019 and 2018 ($ in thousands):
|
|
|
December 31, 2019 |
|
|
|
|
LHFI Evaluated for Impairment |
|
|
|
|
Individually |
|
|
Collectively |
|
|
Total |
|
|
Loans secured by real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land development and other land |
|
$ |
626 |
|
|
$ |
1,162,165 |
|
|
$ |
1,162,791 |
|
|
Secured by 1-4 family residential properties |
|
|
5,464 |
|
|
|
1,850,449 |
|
|
|
1,855,913 |
|
|
Secured by nonfarm, nonresidential properties |
|
|
6,717 |
|
|
|
2,468,528 |
|
|
|
2,475,245 |
|
|
Other real estate secured |
|
|
68 |
|
|
|
724,412 |
|
|
|
724,480 |
|
|
Commercial and industrial loans |
|
|
23,458 |
|
|
|
1,454,438 |
|
|
|
1,477,896 |
|
|
Consumer loans |
|
|
21 |
|
|
|
175,717 |
|
|
|
175,738 |
|
|
State and other political subdivision loans |
|
|
4,079 |
|
|
|
963,865 |
|
|
|
967,944 |
|
|
Other loans |
|
|
784 |
|
|
|
494,837 |
|
|
|
495,621 |
|
|
Total |
|
$ |
41,217 |
|
|
$ |
9,294,411 |
|
|
$ |
9,335,628 |
|
|
|
|
December 31, 2018 |
|
|
|
|
LHFI Evaluated for Impairment |
|
|
|
|
Individually |
|
|
Collectively |
|
|
Total |
|
|
Loans secured by real estate: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Construction, land development and other land |
|
$ |
1,552 |
|
|
$ |
1,055,049 |
|
|
$ |
1,056,601 |
|
|
Secured by 1-4 family residential properties |
|
|
3,963 |
|
|
|
1,821,529 |
|
|
|
1,825,492 |
|
|
Secured by nonfarm, nonresidential properties |
|
|
9,476 |
|
|
|
2,211,438 |
|
|
|
2,220,914 |
|
|
Other real estate secured |
|
|
248 |
|
|
|
543,572 |
|
|
|
543,820 |
|
|
Commercial and industrial loans |
|
|
30,717 |
|
|
|
1,507,998 |
|
|
|
1,538,715 |
|
|
Consumer loans |
|
|
2 |
|
|
|
182,446 |
|
|
|
182,448 |
|
|
State and other political subdivision loans |
|
|
8,595 |
|
|
|
965,223 |
|
|
|
973,818 |
|
|
Other loans |
|
|
1,282 |
|
|
|
492,778 |
|
|
|
494,060 |
|
|
Total |
|
$ |
55,835 |
|
|
$ |
8,780,033 |
|
|
$ |
8,835,868 |
|
|