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Loans
12 Months Ended
Dec. 31, 2021
Loans and Leases Receivable, Net Amount [Abstract]  
Loans LOANS HELD FOR INVESTMENT
The following table presents loans by segment as of the dates indicated:
20212020
Real estate loans:  
Commercial$3,971.5 $3,743.2 
Construction loans:
Land acquisition & development247.8 265.0 
Residential262.0 250.9 
Commercial498.0 523.5 
Total construction loans1,007.8 1,039.4 
Residential1,538.2 1,396.3 
Agricultural213.9 220.6 
Total real estate loans6,731.4 6,399.5 
Consumer loans:
Indirect737.6 805.1 
Direct and advance lines129.2 150.6 
Credit card64.9 70.2 
Total consumer loans931.7 1,025.9 
Commercial1,475.5 2,153.9 
Agricultural203.9 247.6 
Other, including overdrafts1.5 1.6 
Loans held for investment9,344.0 9,828.5 
Deferred loan fees and costs(12.3)(21.0)
Loans held for investment, net of deferred fees and costs9,331.7 9,807.5 
Allowance for credit losses(122.3)(144.3)
Net loans held for investment$9,209.4 $9,663.2 
Allowance for Credit Losses
The following tables represent, by loan portfolio segment, the activity in the allowance for credit losses for loans held for investment:
December 31, 2021Beginning BalanceProvision for (reversal of)
Credit Loss
Loans Charged-OffRecoveries CollectedEnding Balance
Allowance for credit losses (1)
Real estate: 
Commercial real estate:
Non-owner occupied$25.5 $(8.3)$— $0.1 $17.3 
Owner occupied18.3 (2.7)(2.3)— 13.3 
Multi-family11.0 2.3 — — 13.3 
Total commercial real estate54.8 (8.7)(2.3)0.1 43.9 
Construction:
Land acquisition & development1.3 (0.1)(1.2)0.5 0.5 
Residential construction1.6 0.9 (0.1)— 2.4 
Commercial construction7.3 (1.3)(0.1)0.1 6.0 
Total construction10.2 (0.5)(1.4)0.6 8.9 
Residential real estate:
Residential 1-4 family11.4 2.0 — — 13.4 
Home equity and HELOC1.4 (0.4)(0.1)0.3 1.2 
Total residential real estate12.8 1.6 (0.1)0.3 14.6 
Agricultural real estate2.7 (0.1)(0.7)— 1.9 
Total real estate80.5 (7.7)(4.5)1.0 69.3 
Consumer:
Indirect16.7 (1.4)(3.5)2.5 14.3 
Direct and advance lines4.6 1.7 (2.9)1.2 4.6 
Credit card2.6 0.6 (1.8)0.8 2.2 
Total consumer23.9 0.9 (8.2)4.5 21.1 
Commercial:
Commercial and floor plans34.2 (7.3)(3.0)3.2 27.1 
Commercial purpose secured by 1-4 family4.7 (0.5)(0.3)0.5 4.4 
Credit card0.3 0.1 (0.4)0.1 0.1 
Total commercial39.2 (7.7)(3.7)3.8 31.6 
Agricultural:
Agricultural0.7 (0.2)(0.2)— 0.3 
Total agricultural0.7 (0.2)(0.2)— 0.3 
Total allowance for credit losses$144.3 $(14.7)$(16.6)$9.3 $122.3 
(1) Amounts presented are exclusive of the allowance for credit losses related to unfunded commitments which are included in Note “Financial Instruments with Off-Balance Sheet Risk” included in this report.
December 31, 2020Beginning BalanceInitial Impact of Adopting ASC 326Provision for (reversal of) Credit LossLoans Charged-OffRecoveries CollectedEnding Balance
Allowance for credit losses (1)
Real estate:  
Commercial real estate:
Non-owner occupied$8.8 $4.9 $11.7 $— $0.1 $25.5 
Owner occupied10.0 3.5 5.0 (0.4)0.2 18.3 
Multi-family0.7 6.9 3.4 — — 11.0 
Total commercial real estate19.5 15.3 20.1 (0.4)0.3 54.8 
Construction:
Land acquisition & development1.9 (0.1)(0.4)(0.5)0.4 1.3 
Residential construction1.5 (0.9)1.0 — — 1.6 
Commercial construction2.7 1.3 3.3 — — 7.3 
Total construction6.1 0.3 3.9 (0.5)0.4 10.2 
Residential real estate:
Residential 1-4 family1.8 10.6 (1.1)— 0.1 11.4 
Home equity and HELOC1.0 0.5 (0.4)— 0.3 1.4 
Total residential real estate2.8 11.1 (1.5)— 0.4 12.8 
Agricultural real estate0.5 1.8 0.4 — — 2.7 
Total real estate28.9 28.5 22.9 (0.9)1.1 80.5 
Consumer:
Indirect4.5 8.8 5.4 (4.1)2.1 16.7 
Direct and advance lines2.9 3.0 1.6 (3.9)1.0 4.6 
Credit card2.5 0.3 1.8 (2.8)0.8 2.6 
Total consumer9.9 12.1 8.8 (10.8)3.9 23.9 
Commercial:
Commercial and floor plans25.5 (5.1)20.4 (8.0)1.4 34.2 
Commercial purpose secured by 1-4 family5.9 (3.8)2.5 (0.1)0.2 4.7 
Credit card1.2 (1.1)1.1 (1.0)0.1 0.3 
Total commercial32.6 (10.0)24.0 (9.1)1.7 39.2 
Agricultural:
Agricultural1.6 (0.6)(0.2)(0.1)— 0.7 
Total agricultural1.6 (0.6)(0.2)(0.1)— 0.7 
Total allowance for credit losses$73.0 $30.0 $55.5 $(20.9)$6.7 $144.3 
(1) Amounts presented are exclusive of the allowance for credit losses related to unfunded commitments which are included in Note “Financial Instruments with Off-Balance Sheet Risk” included in this report.
The following tables represent activity in the allowance for credit losses for loans held for investment under historical GAAP:
Year Ended December 31, 2019Real EstateConsumerCommercialAgricultureOtherTotal
Allowance for loan losses:      
Beginning balance$31.0 $8.7 $31.3 $2.0 $— $73.0 
Provision charged (credited) to operating
   expense
(1.3)10.6 4.5 0.1 — 13.9 
Less loans charged-off(3.5)(13.0)(6.6)(0.5)— (23.6)
Add back recoveries of loans previously charged-off
2.7 3.6 3.4 — — 9.7 
Ending balance$28.9 $9.9 $32.6 $1.6 $— $73.0 
Individually evaluated for impairment$1.7 $— $1.7 $0.2 $— $3.6 
Collectively evaluated for impairment27.2 9.9 30.9 1.4 — 69.4 
Ending balance$28.9 $9.9 $32.6 $1.6 $— $73.0 
Total loans:      
Individually evaluated for impairment$41.1 $— $17.3 $6.3 $— $64.7 
Collectively evaluated for impairment5,897.1 1,045.2 1,656.4 272.8 — 8,871.5 
Loans held for investment$5,938.2 $1,045.2 $1,673.7 $279.1 $— $8,936.2 
Collateral-Dependent Financial Loans
A collateral-dependent financial loan relies solely on the operation or sale of the collateral for repayment. In evaluating the overall risk associated with a loan, the Company considers (1) character, overall financial condition and resources, and payment record of the borrower; (2) the prospects for support from any financially responsible guarantors; and (3) the nature and degree of protection provided by the cash flow and value of any underlying collateral. The loan may become collateral-dependent when the borrower is experiencing financial difficulty and, as sources of repayment become inadequate over time, the Company develops an expectation that repayment will be provided substantially through the operation or sale of the collateral.
The following table presents the amortized cost basis of collateral-dependent loans by class of loans as of the dates indicated:
As of December 31, 2021As of December 31, 2020
Collateral TypeBusiness AssetsReal PropertyOtherTotalBusiness AssetsReal PropertyOtherTotal
Real estate$1.2 $7.0 $— $8.2 $1.3 $6.5 $1.1 $8.9 
Commercial1.8 1.0 — 2.8 6.1 1.3 0.4 7.8 
Agricultural— 0.7 — 0.7 — 0.8 — 0.8 
Total collateral-dependent$3.0 $8.7 $— $11.7 $7.4 $8.6 $1.5 $17.5 
Impaired Loans
Prior to the adoption of ASC 326 on January 1, 2020, loans were reported as impaired when, based on then current information and events, it was probable we would be unable to collect all amounts due in accordance with the original contractual terms of the loan agreement, including scheduled principal and interest payments. The amount of the impairment was measured using cash flows discounted at the loan’s effective interest rate, except when it was determined that the primary source of repayment for the loan was the operation or liquidation of the underlying collateral. In such cases, the current fair value of the collateral, reduced by anticipated selling costs, was used to measure impairment. The Company considered impaired loans to include all loans, except consumer loans, that were risk rated as doubtful or for which interest accrual had been discontinued or that would have been renegotiated in a troubled debt restructuring. Interest payments received on impaired loans were applied based on whether they were on accrual or non-accrual status.
Interest income recognized by the Company on impaired loans primarily related to loans modified in troubled debt restructurings that remained on accrual status. Interest payments received on non-accrual impaired loans were applied to principal. Interest income was subsequently recognized only to the extent cash payments were received in excess of the principal due. The following tables present information on the Company’s recorded investment of impaired loans as of the date indicated:
 December 31, 2019
Unpaid
Total
Principal
Balance
Recorded
Investment
With No
Allowance
Recorded
Investment
With
Allowance
Total
Recorded
Investment
Related
Allowance
Real estate:     
Commercial$29.2 $12.9 $10.8 $23.7 $0.7 
Construction:
Land acquisition & development
9.2 0.4 2.6 3.0 0.5 
Residential0.1 — — — — 
Commercial1.0 0.5 — 0.5 0.1 
Total construction loans10.3 0.9 2.6 3.5 0.6 
Residential6.9 3.9 1.8 5.7 0.2 
Agricultural8.6 5.2 3.0 8.2 0.2 
Total real estate loans55.0 22.9 18.2 41.1 1.7 
Commercial25.5 12.0 5.3 17.3 1.7 
Agricultural6.9 2.3 4.0 6.3 0.2 
Total$87.4 $37.2 $27.5 $64.7 $3.6 
The following table presents the average recorded investment in and income recognized on impaired loans for the periods indicated:
Year Ended December 31, 2019
Average Recorded InvestmentIncome Recognized
Real estate$41.4 $0.1 
Commercial18.7 0.2 
Agricultural4.6 — 
Total$64.7 $0.3 
Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Loans classified in the following table as greater than 90 days past due continue to accrue interest. The following tables present the contractual aging of the Company’s recorded amortized cost basis in loans by portfolio as of the dates indicated.
Total Loans
30 - 5960 - 89> 9030 or More
DaysDaysDaysDaysCurrentNon-accrualTotal
As of December 31, 2021Past DuePast DuePast DuePast DueLoans
Loans (1)
Loans
Real estate
Commercial$1.1 $1.0 $0.6 $2.7 $3,960.8 $8.0 $3,971.5 
Construction:
Land acquisition & development0.2 — — 0.2 246.9 0.7 247.8 
Residential4.2 — — 4.2 257.8 — 262.0 
Commercial— — — — 498.0 — 498.0 
Total construction loans4.4 — — 4.4 1,002.7 0.7 1,007.8 
Residential3.0 0.8 0.1 3.9 1,531.4 2.9 1,538.2 
Agricultural1.9 0.2 — 2.1 206.9 4.9 213.9 
Total real estate loans10.4 2.0 0.7 13.1 6,701.8 16.5 6,731.4 
Consumer:
Indirect consumer5.1 1.4 0.4 6.9 729.0 1.7 737.6 
Other consumer0.5 0.2 0.1 0.8 128.3 0.1 129.2 
Credit card0.6 0.2 0.5 1.3 63.6 — 64.9 
Total consumer loans6.2 1.8 1.0 9.0 920.9 1.8 931.7 
Commercial4.9 0.7 1.1 6.7 1,463.8 5.0 1,475.5 
Agricultural0.7 — — 0.7 201.6 1.6 203.9 
Other, including overdrafts— — — — 1.5 — 1.5 
Loans held for investment$22.2 $4.5 $2.8 $29.5 $9,289.6 $24.9 $9,344.0 
Total Loans
30 - 5960 - 89> 9030 or More
DaysDaysDaysDaysCurrentNon-accrualTotal
As of December 31, 2020Past DuePast DuePast DuePast DueLoans
Loans (1)
Loans
Real estate
Commercial$7.6 $1.2 $4.0 $12.8 $3,720.8 $9.6 $3,743.2 
Construction:
Land acquisition & development2.5 1.1 0.1 3.7 260.6 0.7 265.0 
Residential1.5 0.4 — 1.9 247.9 1.1 250.9 
Commercial12.2 — — 12.2 511.2 0.1 523.5 
Total construction loans16.2 1.5 0.1 17.8 1,019.7 1.9 1,039.4 
Residential4.7 1.6 0.5 6.8 1,384.9 4.6 1,396.3 
Agricultural2.0 — — 2.0 212.4 6.2 220.6 
Total real estate loans30.5 4.3 4.6 39.4 6,337.8 22.3 6,399.5 
Consumer:
Indirect consumer6.4 2.0 0.5 8.9 794.3 1.9 805.1 
Other consumer0.8 0.2 0.2 1.2 149.0 0.4 150.6 
Credit card0.6 0.4 0.6 1.6 68.6 — 70.2 
Total consumer loans7.8 2.6 1.3 11.7 1,011.9 2.3 1,025.9 
Commercial6.2 1.8 1.2 9.2 2,132.9 11.8 2,153.9 
Agricultural0.4 0.6 1.4 2.4 242.1 3.1 247.6 
Other, including overdrafts— — — — 1.6 — 1.6 
Loans held for investment$44.9 $9.3 $8.5 $62.7 $9,726.3 $39.5 $9,828.5 
(1) As of December 31, 2021 and December 31, 2020, none of our non-accrual loans were earning interest income. Additionally, no material interest income was recognized on non-accrual loans at December 31, 2021 and 2020, respectively and no material accrued interest was reversed at December 31, 2021.
Troubled Debt Restructurings
Modifications of performing loans are made in the ordinary course of business and are completed on a case-by-case basis as negotiated with the borrower in connection with the ongoing loan collection processes. Loan modifications typically include interest rate changes, interest only periods of less than twelve months, short-term payment deferrals and extension of amortization periods to provide payment relief. A loan modification is considered a troubled debt restructuring if the borrower is experiencing financial difficulties and the Company, for economic or legal reasons, grants a concession to the borrower that it would not otherwise consider. Certain troubled debt restructurings are on non-accrual status at the time of restructuring and may be returned to accrual status if the borrower has sustained repayment performance in accordance with the restructuring agreement for a period of at least six months and management is reasonably assured of the borrower’s future performance. If the troubled debt restructuring meets these performance criteria, and the interest rate granted at the modification is equal to or greater than the rate that the Company was willing to accept at the time of the restructuring for a new loan with comparable risk, then the loan will return to performing status and the accrual of interest will resume. Any such loan will continue to be individually evaluated for credit deterioration and disclosed as collateral dependent loans.
The 2020 Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) provided financial institutions with options on the treatment of troubled debt restructurings, and the Company elected to apply these options at the individual loan level. Under the CARES Act, the Company can elect: (1) to suspend the requirements under GAAP for loan modifications related to the Coronavirus Disease 2019 (“COVID–19”) pandemic that would otherwise be categorized as a troubled debt restructuring; and/or (2) to suspend any determination of a loan modified as being a troubled debt restructuring as a result of the effects of the COVID–19 pandemic, including impairment for accounting purposes. If the Company elects a suspension noted above, the suspension (a) will be effective for the term of the loan modification, but solely with respect to any modification, including a forbearance arrangement, an interest rate modification, a repayment plan, and any other similar arrangement that defers or delays the payment of principal or interest, occurring for a loan that was not more than 30 days past due as of December 31, 2019; and (b) will not apply to any adverse impact on the credit of a borrower that is not related to the COVID–19 pandemic. These suspensions ended on January 2, 2022.
The Company renegotiated loans in troubled debt restructurings in the amount of $6.2 million as of December 31, 2021, of which $3.9 million were included in non-accrual loans and $2.3 million were on accrual status. As of December 31, 2021, the Company allocated $0.1 million of allowance for credit losses to those loans and the Company had no material commitments to lend additional funds to borrowers whose existing loans have been renegotiated or are classified as non-accrual.
The Company renegotiated loans in troubled debt restructurings in the amount of $14.5 million as of December 31, 2020, of which $11.3 million were included in non-accrual loans and $3.2 million were on accrual status. As of December 31, 2020, the Company allocated $2.9 million of allowance for credit losses to those loans and the Company had no material commitments to lend additional funds to borrowers whose existing loans have been renegotiated or are classified as non-accrual.
The Company had no material new troubled debt restructurings during the periods ended December 31, 2021 and 2020. The following table presents information of the Company’s troubled debt restructurings that occurred for the period indicated:
December 31, 2019Number of NotesInterest only periodExtension of term or amortization scheduleInterest rate adjustment
Other (1)
Principal Balance at Restructure
Commercial real estate4$0.2 $0.2 $— $2.9 $3.3 
Commercial 1— — — 5.0 $5.0 
Agriculture6— — — 2.1 2.1 
Total loans restructured during period11$0.2 $0.2 $— $10.0 $10.4 
(1) Other includes concessions that reduce or defer payments for a specified period of time and/or concessions that do not fit into other designated categories.
For troubled debt restructurings that were on non-accrual status or otherwise deemed collateral-dependent before the modification, a specific reserve may already be recorded. In periods subsequent to modification, the Company continues to evaluate all troubled debt restructurings for possible credit deterioration and recognizes credit loss through the allowance. Additionally, these loans continue to work through the credit cycle through charge-off, pay-off, or foreclosure. Financial effects of modifications of troubled debt restructurings may include principal loan forgiveness or other charge-offs directly related to the restructuring. The Company had no charge-offs directly related to modifying troubled debt restructurings during December 31, 2021, 2020, and 2019.
The Company had no material troubled debt restructurings during the previous 12 months for which there was a payment default during December 31, 2021, 2020, and 2019. The Company considers a payment default to occur on troubled debt restructurings when the loan is 90 days or more past due or is placed on non-accrual status after the modification.
The terms of certain other loans were modified during the quarter ended December 31, 2021 that did not meet the definition of a troubled debt restructuring. These loans have a total recorded investment of $43.5 million as of December 31, 2021. The modification of these loans involved either a modification of the terms of a loan to borrowers who were not experiencing financial difficulties or a delay in a payment that was considered to be insignificant.
In order to determine whether a borrower is experiencing financial difficulty, the Company evaluates the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Company’s internal underwriting policy.
Credit Quality Indicators
As part of the on-going and continuous monitoring of the credit quality of the Company’s loan portfolio, management tracks internally assigned risk classifications of loans based on relevant information about the ability of borrowers to service their debt including, among other factors, current financial information, historical payment experience, credit documentation, public information, and current economic trends. The Company analyzes loans individually to classify the credit risk of the loans. This analysis generally includes loans with an outstanding balance greater than $1.0 million, which are generally considered non-homogeneous loans, such as commercial and commercial real estate loans. This analysis is performed no less than on an annual basis, dependent upon the size of exposure and the financial reporting frequency to which the borrower is contractually obligated. Homogeneous loans, including small business loans are typically managed by payment performance. The Company risk rates its loans internally in accordance with a Uniform Classification System developed jointly by the various bank regulatory agencies to internally risk rate loans, which defines three broad categories of criticized assets the Company uses as credit quality indicators in addition to the 6 Pass ratings in its 10-point rating scale:
Special Mention — includes loans that exhibit a potential weakness in financial condition, loan structure, or documentation that warrants management’s close attention. If not promptly corrected, the potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date.
Substandard — includes loans that are inadequately protected by the current net worth and paying capacity of the borrower which have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. Although the primary source of repayment for a substandard loan may not currently be sufficient, collateral or other sources of repayment are sufficient to satisfy the debt. Continuance of a substandard loan is not warranted unless positive steps are taken to improve the worthiness of the credit.
Doubtful — includes loans that exhibit pronounced weaknesses on the basis of currently existing facts, conditions, and values to a point where collection or liquidation for full repayment is highly questionable and improbable. Doubtful loans are required to be placed on non-accrual status and are assigned specific loss exposure.
Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass-rated loans.
The Company evaluates the credit quality and loan performance for the allowance for credit loan losses of the following segments based on the aforementioned risk scale:
December 31, 2021
Term Loans Amortized Cost Basis by Origination Year
Risk by Collateral20212020201920182017PriorRevolving Loans Amortized Cost BasisTotal
Commercial real estate non-owner occupied:
Pass$507.9 $452.2 $237.9 $150.4 $76.3 $409.0 $15.3 $1,849.0 
Special mention0.2 3.1 2.1 — — 3.6 — 9.0 
Substandard3.9 15.3 2.3 0.7 1.0 12.4 — 35.6 
Total$512.0 $470.6 $242.3 $151.1 $77.3 $425.0 $15.3 $1,893.6 
Commercial real estate owner occupied:
Pass$452.7 $314.9 $235.0 $151.0 $94.5 $322.5 $14.2 $1,584.8 
Special mention1.3 3.2 1.5 7.4 3.5 13.8 — 30.7 
Substandard3.8 4.3 4.7 5.4 2.7 20.3 — 41.2 
Total$457.8 $322.4 $241.2 $163.8 $100.7 $356.6 $14.2 $1,656.7 
Commercial multi-family:
Pass$129.1 $118.6 $43.9 $15.4 $36.0 $76.7 $1.5 $421.2 
Total$129.1 $118.6 $43.9 $15.4 $36.0 $76.7 $1.5 $421.2 
Land, acquisition and development:
Pass$113.0 $41.5 $34.2 $14.8 $19.8 $20.8 $1.2 $245.3 
Special mention— 0.1 — — 0.1 0.3 — 0.5 
Substandard0.8 0.2 — 0.6 0.3 0.1 — 2.0 
Total$113.8 $41.8 $34.2 $15.4 $20.2 $21.2 $1.2 $247.8 
Residential construction:
Pass$112.4 $7.0 $13.7 $0.9 $— $— $127.2 $261.2 
Substandard— 0.4 — — 0.4 — — 0.8 
Total$112.4 $7.4 $13.7 $0.9 $0.4 $— $127.2 $262.0 
Commercial construction:
Pass$209.7 $141.4 $118.8 $27.6 $— $0.5 $— $498.0 
Total$209.7 $141.4 $118.8 $27.6 $— $0.5 $— $498.0 
Agricultural real estate:
Pass$58.3 $36.9 $35.1 $22.6 $11.8 $28.1 $4.9 $197.7 
Special mention0.1 1.3 1.2 0.1 0.1 0.9 0.9 4.6 
Substandard4.0 0.4 1.0 0.6 1.3 4.3 — 11.6 
Total$62.4 $38.6 $37.3 $23.3 $13.2 $33.3 $5.8 $213.9 
Commercial and floor plans:
Pass$394.2 $165.7 $94.5 $73.5 $47.1 $91.3 $224.7 $1,091.0 
Special mention0.8 11.4 0.8 0.8 3.0 2.3 7.0 26.1 
Substandard1.3 2.8 1.6 2.6 0.6 4.1 2.6 15.6 
Total$396.3 $179.9 $96.9 $76.9 $50.7 $97.7 $234.3 $1,132.7 
Commercial purpose secured by 1-4 family:
Pass$94.9 $55.0 $27.8 $23.1 $15.3 $32.2 $14.4 $262.7 
Special mention— 0.2 0.2 0.5 0.1 0.6 — 1.6 
Substandard1.3 1.2 0.6 0.6 0.2 1.3 0.1 5.3 
Total$96.2 $56.4 $28.6 $24.2 $15.6 $34.1 $14.5 $269.6 
Agricultural:
Pass$35.1 $16.2 $9.0 $5.4 $2.1 $1.6 $108.9 $178.3 
Special mention0.2 4.1 0.1 0.4 0.6 0.3 7.0 12.7 
Substandard4.9 0.7 0.6 2.5 — 0.1 2.6 11.4 
Total$40.2 $21.0 $9.7 $8.3 $2.7 $2.0 $118.5 $202.4 
December 31, 2020
Term Loans Amortized Cost Basis by Origination Year
Risk by Collateral20202019201820172016PriorRevolving Loans Amortized Cost BasisTotal
Commercial real estate non-owner occupied:
Pass$495.9 $304.9 $216.0 $105.3 $139.7 $336.5 $13.8 $1,612.1 
Special mention0.3 2.3 0.9 0.1 6.4 13.7 — 23.7 
Substandard15.7 2.7 1.0 4.1 1.1 13.9 — 38.5 
Doubtful— — 0.2 — — — — 0.2 
Total$511.9 $309.9 $218.1 $109.5 $147.2 $364.1 $13.8 $1,674.5 
Commercial real estate owner occupied:
Pass$416.3 $312.5 $211.2 $122.4 $153.7 $357.9 $8.9 $1,582.9 
Special mention7.1 9.6 4.8 3.1 18.6 20.0 — 63.2 
Substandard8.9 6.5 11.5 5.0 15.1 11.1 0.3 58.4 
Doubtful0.2 — — 0.2 — 0.1 — 0.5 
Total$432.5 $328.6 $227.5 $130.7 $187.4 $389.1 $9.2 $1,705.0 
Commercial multi-family:
Pass$132.5 $58.9 $23.5 $41.6 $25.8 $80.5 $0.8 $363.6 
Special mention— — — — — 0.1 — 0.1 
Total$132.5 $58.9 $23.5 $41.6 $25.8 $80.6 $0.8 $363.7 
Land, acquisition and development:
Pass$104.6 $58.8 $26.4 $30.7 $7.6 $26.3 $5.8 $260.2 
Special mention0.2 0.1 — 0.9 — 1.2 0.5 2.9 
Substandard0.3 — 1.2 0.1 — 0.1 0.1 1.8 
Doubtful— — — — — 0.1 — 0.1 
Total$105.1 $58.9 $27.6 $31.7 $7.6 $27.7 $6.4 $265.0 
Residential construction:
Pass$80.4 $64.7 $16.7 $5.6 $— $0.1 $82.1 $249.6 
Substandard0.2 — — — — — 1.1 1.3 
Total$80.6 $64.7 $16.7 $5.6 $— $0.1 $83.2 $250.9 
Commercial construction:
Pass$236.1 $195.4 $61.2 $11.9 $6.0 $(0.3)$11.6 $521.9 
Special mention— — 1.5 — — — — 1.5 
Substandard— — — — — 0.1 — 0.1 
Total$236.1 $195.4 $62.7 $11.9 $6.0 $(0.2)$11.6 $523.5 
Agricultural real estate:
Pass$50.0 $45.3 $28.2 $17.2 $12.7 $27.2 $5.3 $185.9 
Special mention2.8 6.7 1.0 1.5 0.9 1.0 0.5 14.4 
Substandard1.4 5.9 3.4 0.9 3.4 4.4 0.6 20.0 
Doubtful— 0.3 — — — — — 0.3 
Total$54.2 $58.2 $32.6 $19.6 $17.0 $32.6 $6.4 $220.6 
Commercial and floor plans:
Pass$1,029.4 $153.0 $136.0 $69.8 $43.0 $92.3 $233.1 $1,756.6 
Special mention5.6 1.0 1.9 7.0 3.9 0.5 2.4 22.3 
Substandard8.8 1.8 4.3 0.4 4.1 1.1 11.5 32.0 
Doubtful0.3 0.4 — — 0.1 2.6 0.2 3.6 
Total$1,044.1 $156.2 $142.2 $77.2 $51.1 $96.5 $247.2 $1,814.5 
December 31, 2020
Term Loans Amortized Cost Basis by Origination Year
Risk by Collateral20202019201820172016PriorRevolving Loans Amortized Cost BasisTotal
Commercial purpose secured by 1-4 family:
Pass$82.3 $53.7 $33.7 $20.7 $15.5 $34.9 $17.5 $258.3 
Special mention0.5 0.5 0.3 0.1 0.5 0.8 0.8 3.5 
Substandard2.4 1.0 4.8 0.3 1.4 1.0 0.1 11.0 
Total$85.2 $55.2 $38.8 $21.1 $17.4 $36.7 $18.4 $272.8 
Agricultural:
Pass$47.4 $18.1 $10.7 $4.2 $3.0 $1.3 $130.9 $215.6 
Special mention1.5 0.7 0.4 — 0.1 0.3 13.4 16.4 
Substandard3.7 1.5 4.2 0.6 0.1 0.4 3.6 14.1 
Total$52.6 $20.3 $15.3 $4.8 $3.2 $2.0 $147.9 $246.1 
The Company evaluates the credit quality, loan performance, and the allowance for credit loan losses of its residential and consumer loan portfolios, based primarily on the aging status of the loan and borrower payment activity. Accordingly, loans on nonaccrual status, loans past due 90 days or more and still accruing interest, and loans modified under troubled debt restructurings are considered to be nonperforming for purposes of credit quality evaluation. The following tables present the recorded investment of our other loan portfolios based on the credit risk profile of loans that are performing and loans that are nonperforming as of the periods indicated:
December 31, 2021
Term Loans Amortized Cost Basis by Origination Year
Risk by Collateral20212020201920182017PriorRevolving Loans Amortized Cost BasisTotal
Residential 1-4 family:
Performing$360.9 $477.0 $74.7 $27.5 $25.7 $176.5 $— $1,142.3 
Nonperforming— 0.3 — — 0.2 0.8 — 1.3 
Total$360.9 $477.3 $74.7 $27.5 $25.9 $177.3 $— $1,143.6 
Consumer home equity and HELOC:
Performing$11.1 $7.0 $3.7 $4.8 $3.6 $12.0 $350.7 $392.9 
Nonperforming0.3 — 0.3 — 0.6 0.5 — 1.7 
Total$11.4 $7.0 $4.0 $4.8 $4.2 $12.5 $350.7 $394.6 
Consumer indirect:
Performing$272.6 $208.6 $108.3 $64.0 $37.0 $45.0 $— $735.5 
Nonperforming0.5 0.5 0.4 0.2 0.1 0.4 — 2.1 
Total$273.1 $209.1 $108.7 $64.2 $37.1 $45.4 $— $737.6 
Consumer direct and advance line:
Performing$42.5 $27.9 $15.0 $13.3 $5.8 $7.6 $16.9 $129.0 
Nonperforming0.1 — — 0.1 — — — 0.2 
Total$42.6 $27.9 $15.0 $13.4 $5.8 $7.6 $16.9 $129.2 
December 31, 2020
Term Loans Amortized Cost Basis by Origination Year
Risk by Collateral20202019201820172016PriorRevolving Loans Amortized Cost BasisTotal
Residential 1-4 family:
Performing$491.1 $113.9 $57.2 $47.8 $65.7 $234.6 $— $1,010.3 
Nonperforming0.1 0.7 — — — 1.2 — 2.0 
Total$491.2 $114.6 $57.2 $47.8 $65.7 $235.8 $— $1,012.3 
Consumer home equity and HELOC:
Performing$12.0 $7.1 $7.1 $9.7 $4.7 $14.4 $328.1 $383.1 
Nonperforming0.1 0.2 — — 0.1 0.4 0.1 0.9 
Total$12.1 $7.3 $7.1 $9.7 $4.8 $14.8 $328.2 $384.0 
Consumer indirect:
Performing$334.5 $187.9 $117.9 $73.8 $47.6 $42.6 $— $804.3 
Nonperforming0.1 0.2 0.1 0.2 0.1 0.1 — 0.8 
Total$334.6 $188.1 $118.0 $74.0 $47.7 $42.7 $— $805.1 
Consumer direct and advance line:
Performing$47.1 $29.4 $28.1 $11.9 $5.3 $8.6 $19.9 $150.3 
Nonperforming0.1 — 0.1 — — — 0.1 0.3 
Total$47.2 $29.4 $28.2 $11.9 $5.3 $8.6 $20.0 $150.6 
The Company considers the performance of the loan portfolio and its impact on the allowance for credit loan losses. For certain credit card loan classes, the Company also evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. The following table presents the recorded investment in credit card loans based on payment activity for the periods indicated:
As of December 31, 2021As of December 31, 2020
ConsumerCommercialAgriculturalTotalConsumerCommercialAgriculturalTotal
Credit Card:
Performing$64.4 $73.1 $1.5 $139.0 $69.6 $66.3 $1.5 $137.4 
Nonperforming0.5 0.1 — 0.6 0.6 0.3 — 0.9 
Total credit card$64.9 $73.2 $1.5 $139.6 $70.2 $66.6 $1.5 $138.3 
There were no material purchases of portfolio loans and no material sales of loans held for investment during the periods ended December 31, 2021 or 2020.