0000715072-23-000198 | 10-Q | XBRL Viewer

Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Carrying amounts of goodwill by operating segments

The carrying amounts of goodwill by operating segments for the six months ended June 30, 2023 are set forth in the table below. The deduction from goodwill resulted from measurement period adjustments following the RBC acquisition and is primarily related to adjustments on the fair value of other liabilities.


	Community Banks		Insurance		Total
Balance at January 1, 2023	$	988,941	$	2,767	$	991,708
Deductions to goodwill and other adjustments	(43)		—		(43)
Balance at June 30, 2023	$	988,898	$	2,767	$	991,665

Summary of finite-lived intangible assets

The following table provides a summary of finite-lived intangible assets as of the dates presented:


	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
June 30, 2023
Core deposit intangibles	$	82,492	$	(66,466)	$	16,026
Customer relationship intangible	7,670		(2,315)		5,355
Total finite-lived intangible assets	$	90,162	$	(68,781)	$	21,381
December 31, 2022
Core deposit intangibles	$	82,492	$	(64,339)	$	18,153
Customer relationship intangible	7,670		(1,647)		6,023
Total finite-lived intangible assets	$	90,162	$	(65,986)	$	24,176

Current year amortization expense for finite-lived intangible assets

Current year amortization expense for finite-lived intangible assets is presented in the table below.


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2023		2022		2023		2022
Amortization expense for:
Core deposit intangibles	$	1,034	$	1,264	$	2,126	$	2,585
Customer relationship intangible	335		46		669		91
Total intangible amortization	$	1,369	$	1,310	$	2,795	$	2,676

Estimated amortization expense of finite-lived intangible assets

The estimated amortization expense of finite-lived intangible assets for the year ending December 31, 2023 and the succeeding four years is summarized as follows:


	Core Deposit Intangibles		Customer Relationship Intangible		Total

2023	$	4,043	$	1,337	$	5,380
2024	3,498		1,192		4,690
2025	3,102		1,048		4,150
2026	2,899		860		3,759
2027	2,774		628		3,402

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Fair Value Measurements - Assets and Liabilities Not Measured and Reported at Fair Value on a Recurring Basis or Nonrecurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Financial assets
Securities held to maturity	$ 1,153,541	$ 1,206,540
Securities available for sale	950,930	1,533,942
Loans held for sale	249,615	110,105
Mortgage servicing rights	87,432	84,448
Derivative instruments	36,832	36,493
Financial liabilities
Derivative instruments	23,894	22,056
Carrying Value
Financial assets
Cash and cash equivalents	946,899	575,992
Securities held to maturity	1,273,044	1,324,040
Securities available for sale	950,930	1,533,942
Loans held for sale	249,615	110,105
Loans, net	11,736,125	11,386,214
Mortgage servicing rights	87,432	84,448
Derivative instruments	38,746	38,047
Financial liabilities
Deposits	14,095,361	13,486,966
Short-term borrowings	257,305	712,232
Junior subordinated debentures	112,510	112,042
Subordinated notes	317,120	316,091
Derivative instruments	35,151	33,185
Fair Value
Financial assets
Cash and cash equivalents	946,899	575,992
Securities held to maturity	1,153,541	1,206,540
Securities available for sale	950,930	1,533,942
Loans held for sale	249,615	110,105
Loans, net	11,059,520	10,850,181
Mortgage servicing rights	125,055	122,454
Derivative instruments	38,746	38,047
Financial liabilities
Deposits	14,057,773	13,445,417
Short-term borrowings	257,305	712,232
Junior subordinated debentures	93,243	98,754
Subordinated notes	258,250	277,500
Derivative instruments	35,151	33,185
Fair Value \| Level 1
Financial assets
Cash and cash equivalents	946,899	575,992
Securities held to maturity	0	0
Securities available for sale	0	0
Loans held for sale	0	0
Loans, net	0	0
Mortgage servicing rights	0	0
Derivative instruments	0	0
Financial liabilities
Deposits	11,139,951	11,791,526
Short-term borrowings	257,305	712,232
Junior subordinated debentures	0	0
Subordinated notes	0	0
Derivative instruments	0	0
Fair Value \| Level 2
Financial assets
Cash and cash equivalents	0	0
Securities held to maturity	1,153,541	1,206,540
Securities available for sale	950,930	1,533,942
Loans held for sale	249,615	110,105
Loans, net	0	0
Mortgage servicing rights	0	0
Derivative instruments	38,746	38,047
Financial liabilities
Deposits	2,917,822	1,653,891
Short-term borrowings	0	0
Junior subordinated debentures	93,243	98,754
Subordinated notes	258,250	277,500
Derivative instruments	35,151	33,185
Fair Value \| Level 3
Financial assets
Cash and cash equivalents	0	0
Securities held to maturity	0	0
Securities available for sale	0	0
Loans held for sale	0	0
Loans, net	11,059,520	10,850,181
Mortgage servicing rights	125,055	122,454
Derivative instruments	0	0
Financial liabilities
Deposits	0	0
Short-term borrowings	0	0
Junior subordinated debentures	0	0
Subordinated notes	0	0
Derivative instruments	$ 0	$ 0

Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

(In Thousands)


	Community Banks		Insurance		Total
Balance at January 1, 2023	$	988,941	$	2,767	$	991,708
Deductions to goodwill and other adjustments	(43)		—		(43)
Balance at June 30, 2023	$	988,898	$	2,767	$	991,665

The following table provides a summary of finite-lived intangible assets as of the dates presented:


	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
June 30, 2023
Core deposit intangibles	$	82,492	$	(66,466)	$	16,026
Customer relationship intangible	7,670		(2,315)		5,355
Total finite-lived intangible assets	$	90,162	$	(68,781)	$	21,381
December 31, 2022
Core deposit intangibles	$	82,492	$	(64,339)	$	18,153
Customer relationship intangible	7,670		(1,647)		6,023
Total finite-lived intangible assets	$	90,162	$	(65,986)	$	24,176

Current year amortization expense for finite-lived intangible assets is presented in the table below.


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2023		2022		2023		2022
Amortization expense for:
Core deposit intangibles	$	1,034	$	1,264	$	2,126	$	2,585
Customer relationship intangible	335		46		669		91
Total intangible amortization	$	1,369	$	1,310	$	2,795	$	2,676

The estimated amortization expense of finite-lived intangible assets for the year ending December 31, 2023 and the succeeding four years is summarized as follows:


	Core Deposit Intangibles		Customer Relationship Intangible		Total

2023	$	4,043	$	1,337	$	5,380
2024	3,498		1,192		4,690
2025	3,102		1,048		4,150
2026	2,899		860		3,759
2027	2,774		628		3,402

Derivative Instruments - Fair Value Hedge Impact on Statement of Income (Details) - Interest rate swaps - Designated as Hedging Instrument - Interest Expense - Fair Value Hedging - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative [Line Items]
Change in unrealized gain (loss) on fair value hedging instruments	$ (1,939)	$ (3,805)	$ 582	$ (10,148)
Change in unrealized gain (loss) on hedged item in fair value hedge	$ 1,939	$ 3,805	$ (582)	$ 10,148

Segment Reporting - Financial Information for Operating Segments (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Financial information for the Company's operating segments
Net interest income (loss)	$ 130,216		$ 113,515		$ 265,991	$ 213,144
Provision for credit losses	3,000		2,000		10,960	3,500
Noninterest income (loss)	17,226		37,214		54,519	74,672
Noninterest expense	109,165		98,194		216,873	192,299
Income (loss) before income taxes	35,277		50,535		92,677	92,017
Income tax expense (benefit)	6,634		10,857		17,956	18,792
Net income (loss)	28,643	$ 46,078	39,678	$ 33,547	74,721	73,225
Total assets	17,224,342		16,618,101		17,224,342	16,618,101	$ 16,988,176
Goodwill	991,665		946,291		991,665	946,291	991,708
Community Banks
Financial information for the Company's operating segments
Goodwill	988,898				988,898		988,941
Insurance
Financial information for the Company's operating segments
Goodwill	2,767				2,767		$ 2,767
Operating segments \| Community Banks
Financial information for the Company's operating segments
Net interest income (loss)	136,370		117,580		278,153	221,512
Provision for credit losses	3,000		2,000		10,960	3,500
Noninterest income (loss)	8,931		28,729		37,652	57,035
Noninterest expense	102,044		91,249		202,663	178,120
Income (loss) before income taxes	40,257		53,060		102,182	96,927
Income tax expense (benefit)	8,258		12,093		20,980	21,224
Net income (loss)	31,999		40,967		81,202	75,703
Total assets	17,181,988		16,520,685		17,181,988	16,520,685
Goodwill	988,898		943,524		988,898	943,524
Operating segments \| Insurance
Financial information for the Company's operating segments
Net interest income (loss)	428		95		714	188
Provision for credit losses	0		0		0	0
Noninterest income (loss)	2,859		2,611		6,221	5,708
Noninterest expense	2,070		2,005		4,109	4,121
Income (loss) before income taxes	1,217		701		2,826	1,775
Income tax expense (benefit)	316		185		732	466
Net income (loss)	901		516		2,094	1,309
Total assets	37,867		34,264		37,867	34,264
Goodwill	2,767		2,767		2,767	2,767
Operating segments \| Wealth Management
Financial information for the Company's operating segments
Net interest income (loss)	28		529		52	1,019
Provision for credit losses	0		0		0	0
Noninterest income (loss)	5,866		6,315		11,450	12,820
Noninterest expense	4,645		4,591		9,335	9,346
Income (loss) before income taxes	1,249		2,253		2,167	4,493
Income tax expense (benefit)	(18)		0		(14)	0
Net income (loss)	1,267		2,253		2,181	4,493
Total assets	4,757		65,709		4,757	65,709
Goodwill	0		0		0	0
Other
Financial information for the Company's operating segments
Net interest income (loss)	(6,610)		(4,689)		(12,928)	(9,575)
Provision for credit losses	0		0		0	0
Noninterest income (loss)	(430)		(441)		(804)	(891)
Noninterest expense	406		349		766	712
Income (loss) before income taxes	(7,446)		(5,479)		(14,498)	(11,178)
Income tax expense (benefit)	(1,922)		(1,421)		(3,742)	(2,898)
Net income (loss)	(5,524)		(4,058)		(10,756)	(8,280)
Total assets	(270)		(2,557)		(270)	(2,557)
Goodwill	$ 0		$ 0		$ 0	$ 0

Employee Benefit and Deferred Compensation Plans - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Retirement Benefits [Abstract]
Stock options granted (in shares)			0	0
Share outstanding (in shares)	0		0
Treasury shares reissued (in shares)			142,012
Total stock-based compensation expense	$ 3,395	$ 2,952	$ 6,840	$ 6,290

Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Stockholders' Equity [Abstract]
Cash dividends per share (usd per share)	$ 0.22	$ 0.22	$ 0.22	$ 0.22	$ 0.44	$ 0.44

Allowance for Credit Losses - Unfunded Loan Commitments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Allowance for credit losses on unfunded loan commitments:
Beginning balance	$ 18,618	$ 19,485	$ 20,118	$ 20,035
(Recovery of) provision for credit losses on unfunded loan commitments (included in other noninterest expense)	(1,000)	450	(2,500)	(100)
Ending balance	$ 17,618	$ 19,935	$ 17,618	$ 19,935

Securities - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
Securities - Narrative (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Proceeds from sales of securities available for sale	$ 488,981,000	$ 0	$ 488,981,000	$ 0
Allowance for credit losses - held to maturity securities	32,000		32,000		$ 32,000
Secure government, public and trust deposits
Debt Securities, Available-for-sale [Line Items]
Available for sale securities pledged as collateral	771,201,000		771,201,000		824,417,000
Short-term borrowings
Debt Securities, Available-for-sale [Line Items]
Available for sale securities pledged as collateral	$ 14,822,000		$ 14,822,000		$ 18,184,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

+ Details

Employee Benefit and Deferred Compensation Plans - Plan Expense for Non-Contributory Benefit Pension Plan and Post-Retirement Health and Life Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pension Benefits
Plan expense for noncontributory benefit pension plan and post-retirement health and life plans
Service cost	$ 0	$ 0	$ 0	$ 0
Interest cost	248	185	497	369
Expected return on plan assets	(309)	(421)	(618)	(842)
Recognized actuarial loss (gain)	131	61	262	122
Net periodic benefit cost (return)	70	(175)	141	(351)
Other Benefits
Plan expense for noncontributory benefit pension plan and post-retirement health and life plans
Service cost	0	1	0	2
Interest cost	5	3	11	6
Expected return on plan assets	0	0	0	0
Recognized actuarial loss (gain)	(16)	(19)	(31)	(38)
Net periodic benefit cost (return)	$ (11)	$ (15)	$ (20)	$ (30)

Fair Value Measurements - Significant Unobservable Inputs (Level 3) Used in Valuation of Assets and Liabilities Measured at Fair Value on Non-Recurring Basis (Details) - Level 3 $ in Thousands	Jun. 30, 2023 USD ($)
Individually evaluated loans, net of allowance for credit losses
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Fair Value	$ 51,537
OREO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Fair Value	$ 37
Measurement input, price volatility \| Minimum \| Individually evaluated loans, net of allowance for credit losses
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Debt instrument, measurement input range	0.04
Measurement input, price volatility \| Minimum \| OREO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
OREO, measurement input range	0.04
Measurement input, price volatility \| Maximum \| Individually evaluated loans, net of allowance for credit losses
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Debt instrument, measurement input range	0.10
Measurement input, price volatility \| Maximum \| OREO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
OREO, measurement input range	0.10

Goodwill and Other Intangible Assets - Carrying Amounts of Goodwill by Operating Segments (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Goodwill [Roll Forward]
Balance at January 1, 2023	$ 991,708
Deductions to goodwill and other adjustments	(43)
Balance at June 30, 2023	991,665
Community Banks
Goodwill [Roll Forward]
Balance at January 1, 2023	988,941
Deductions to goodwill and other adjustments	(43)
Balance at June 30, 2023	988,898
Insurance
Goodwill [Roll Forward]
Balance at January 1, 2023	2,767
Deductions to goodwill and other adjustments	0
Balance at June 30, 2023	$ 2,767

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Mortgage Servicing Rights (Tables)

6 Months Ended

Jun. 30, 2023

Transfers and Servicing [Abstract]

Changes in the company's MSRs

Changes in the Company’s MSRs were as follows:


Balance at January 1, 2023	$	84,448

Capitalization	7,717
Amortization	(4,733)

Balance at June 30, 2023	$	87,432

Data and key economic assumptions related to the Company's MSRs

Data and key economic assumptions related to the Company’s MSRs are as follows as of the dates presented:


	June 30, 2023			December 31, 2022
Unpaid principal balance	$	7,612,976		$	7,494,413

Weighted-average prepayment speed (CPR)	7.43		%	7.00		%
Estimated impact of a 10% increase	$	(2,245)		$	(1,765)
Estimated impact of a 20% increase	(4,791)			(3,957)

Discount rate	10.32		%	10.30		%
Estimated impact of a 10% increase	$	(5,414)		$	(5,393)
Estimated impact of a 20% increase	(10,400)			(10,354)

Weighted-average coupon interest rate	3.67		%	3.51		%
Weighted-average servicing fee (basis points)	32.62			32.44
Weighted-average remaining maturity (in years)	8.08			8.33

Derivative Instruments - Schedule of Notional and Fair Value of Derivative Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Oct. 31, 2022	Jun. 30, 2022
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	$ 36,832	$ 36,493
Derivative liabilities, fair value	$ 23,894	$ 22,056
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other Assets
Derivative Liability, Statement of Financial Position [Extensible Enumeration]		Other Liabilities
Interest rate collars
Derivatives, Fair Value [Line Items]
Interest rate collar, floor rate (percent)			2.75%	2.25%
Interest rate collar, cap rate (percent)			4.75%	4.57%
Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative assets, notional amount	$ 853,368	$ 435,547
Derivative assets, fair value	14,982	13,069
Derivative liabilities, notional amount	469,450	351,134
Derivative liabilities, fair value	11,588	12,650
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative assets, notional amount	330,000	330,000
Derivative assets, fair value	23,764	24,978
Derivative liabilities, notional amount	450,000	250,000
Derivative liabilities, fair value	4,355	746
Other Assets \| Not Designated as Hedging Instrument \| Interest rate contracts
Derivatives, Fair Value [Line Items]
Derivative assets, notional amount	510,641	258,646
Derivative assets, fair value	11,483	11,354
Other Assets \| Not Designated as Hedging Instrument \| Interest rate lock commitments
Derivatives, Fair Value [Line Items]
Derivative assets, notional amount	86,727	92,901
Derivative assets, fair value	1,712	1,231
Other Assets \| Not Designated as Hedging Instrument \| Forward commitments
Derivatives, Fair Value [Line Items]
Derivative assets, notional amount	256,000	84,000
Derivative assets, fair value	1,787	484
Other Assets \| Designated as Hedging Instrument \| Interest rate swaps \| Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Derivative assets, notional amount	330,000	130,000
Derivative assets, fair value	23,764	24,514
Other Assets \| Designated as Hedging Instrument \| Interest rate collars \| Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Derivative assets, notional amount	0	200,000
Derivative assets, fair value	0	464
Other Liabilities \| Not Designated as Hedging Instrument \| Interest rate contracts
Derivatives, Fair Value [Line Items]
Derivative liabilities, notional amount	436,028	258,646
Derivative liabilities, fair value	11,483	11,354
Other Liabilities \| Not Designated as Hedging Instrument \| Interest rate lock commitments
Derivatives, Fair Value [Line Items]
Derivative liabilities, notional amount	8,422	19,488
Derivative liabilities, fair value	27	98
Other Liabilities \| Not Designated as Hedging Instrument \| Forward commitments
Derivatives, Fair Value [Line Items]
Derivative liabilities, notional amount	25,000	73,000
Derivative liabilities, fair value	78	1,198
Other Liabilities \| Designated as Hedging Instrument \| Interest rate swaps \| Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Derivative liabilities, notional amount	0	0
Derivative liabilities, fair value	0	0
Other Liabilities \| Designated as Hedging Instrument \| Interest rate swaps \| Fair Value Hedging
Derivatives, Fair Value [Line Items]
Derivative liabilities, notional amount	300,000	100,000
Derivative liabilities, fair value	19,208	19,789
Other Liabilities \| Designated as Hedging Instrument \| Interest rate collars \| Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Derivative liabilities, notional amount	450,000	250,000
Derivative liabilities, fair value	$ 4,355	$ 746

Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Changes in the components of other comprehensive income (loss)

Changes in the components of other comprehensive income (loss), net of tax, were as follows for the periods presented:


	Pre-Tax		Tax Expense (Benefit)		Net of Tax
Three months ended June 30, 2023
Securities available for sale:
Unrealized holding losses on securities	$	(21,283)	$	(5,353)	$	(15,930)

Reclassification adjustment for losses realized in net income	22,438		5,622		16,816

Amortization of unrealized holding losses on securities transferred to the held to maturity category	3,026		774		2,252
Total securities available for sale	4,181		1,043		3,138
Derivative instruments:
Unrealized holding losses on derivative instruments	(3,167)		(806)		(2,361)

Total derivative instruments	(3,167)		(806)		(2,361)
Defined benefit pension and post-retirement benefit plans:


Amortization of net actuarial loss recognized in net periodic pension cost	115		29		86
Total defined benefit pension and post-retirement benefit plans	115		29		86
Total other comprehensive income	$	1,129	$	266	$	863
Three months ended June 30, 2022
Securities available for sale:

Unrealized holding losses on securities	$	(76,405)	$	(19,447)	$	(56,958)


Amortization of unrealized holding gains on securities transferred to the held to maturity category	(220)		(56)		(164)
Total securities available for sale	(76,625)		(19,503)		(57,122)
Derivative instruments:
Unrealized holding gains on derivative instruments	8,401		2,139		6,262

Total derivative instruments	8,401		2,139		6,262
Defined benefit pension and post-retirement benefit plans:

Amortization of net actuarial loss recognized in net periodic pension cost	41		10		31
Total defined benefit pension and post-retirement benefit plans	41		10		31
Total other comprehensive loss	$	(68,183)	$	(17,354)	$	(50,829)


	Pre-Tax		Tax Expense (Benefit)		Net of Tax
Six months ended June 30, 2023
Securities available for sale:
Unrealized holding losses on securities	$	(569)	$	(170)	$	(399)

Reclassification adjustment for losses realized in net income	22,438		5,622		16,816

Amortization of unrealized holding losses on securities transferred to the held to maturity category	6,154		1,574		4,580
Total securities available for sale	28,023		7,026		20,997
Derivative instruments:
Unrealized holding losses on derivative instruments	(4,823)		(1,230)		(3,593)

Total derivative instruments	(4,823)		(1,230)		(3,593)
Defined benefit pension and post-retirement benefit plans:


Amortization of net actuarial loss recognized in net periodic pension cost	231		59		172
Total defined benefit pension and post-retirement benefit plans	231		59		172
Total other comprehensive income	$	23,431	$	5,855	$	17,576

Six months ended June 30, 2022
Securities available for sale:
Unrealized holding losses on securities	$	(211,161)	$	(53,741)	$	(157,420)



Amortization of unrealized holding gains on securities transferred to the held to maturity category	(319)		(81)		(238)
Total securities available for sale	(211,480)		(53,822)		(157,658)
Derivative instruments:
Unrealized holding gains on derivative instruments	16,957		4,316		12,641

Total derivative instruments	16,957		4,316		12,641
Defined benefit pension and post-retirement benefit plans:

Amortization of net actuarial loss recognized in net periodic pension cost	83		21		62
Total defined benefit pension and post-retirement benefit plans	83		21		62
Total other comprehensive loss	$	(194,440)	$	(49,485)	$	(144,955)

Accumulated balances for each component of other comprehensive income (loss), net of tax

The accumulated balances for each component of other comprehensive loss, net of tax, were as follows as of the dates presented:


	June 30, 2023		December 31, 2022
Unrealized losses on securities	$	(198,769)	$	(219,766)

Unrealized gains on derivative instruments	15,363		18,956
Unrecognized losses on defined benefit pension and post-retirement benefit plans obligations	(8,055)		(8,227)
Total accumulated other comprehensive loss	$	(191,461)	$	(209,037)

Derivative Instruments - Gains (Losses) of Derivative Instruments (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Gains (losses) on derivatives financial instruments included in the Consolidated Statements of Income
Gains (losses) on derivative financial instruments	$ 1,159	$ (6,813)	$ 6,521	$ (2,395)
Interest rate contracts
Gains (losses) on derivatives financial instruments included in the Consolidated Statements of Income
Gains (losses) on derivative financial instruments	$ 1,804	$ 390	$ 3,546	$ 444
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest and Fee Income, Loans and Leases	Interest and Fee Income, Loans and Leases	Interest and Fee Income, Loans and Leases	Interest and Fee Income, Loans and Leases
Interest rate lock commitments
Gains (losses) on derivatives financial instruments included in the Consolidated Statements of Income
Gains (losses) on derivative financial instruments	$ (1,686)	$ 3,404	$ 551	$ (2,420)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Mortgage banking income	Mortgage banking income	Mortgage banking income	Mortgage banking income
Forward commitments
Gains (losses) on derivatives financial instruments included in the Consolidated Statements of Income
Gains (losses) on derivative financial instruments	$ 1,041	$ (10,607)	$ 2,424	$ (419)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Mortgage banking income	Mortgage banking income	Mortgage banking income	Mortgage banking income

Employee Benefit and Deferred Compensation Plans

6 Months Ended

Jun. 30, 2023

Retirement Benefits [Abstract]

Employee Benefit and Deferred Compensation Plans

(In Thousands, Except Share Data)

Pension and Post-retirement Medical Plans

The Company sponsors a noncontributory defined benefit pension plan, under which participation and benefit accruals ceased as of December 31, 1996, and it provides retiree medical benefits, consisting of the opportunity to purchase coverage at subsidized rates under the Company’s group medical plan.

Information related to the defined benefit pension plan maintained by Renasant Bank (“Pension Benefits”) and to the post-retirement health and life plan (“Other Benefits”) as of the dates presented is as follows:



	Pension Benefits				Other Benefits
	Three Months Ended				Three Months Ended
	June 30,				June 30,
	2023		2022			2023		2022
Service cost	$	—	$	—		$	—	$	1
Interest cost	248		185			5		3
Expected return on plan assets	(309)		(421)			—		—

Recognized actuarial loss (gain)	131		61			(16)		(19)

Net periodic benefit cost (return)	$	70	$	(175)		$	(11)	$	(15)


	Pension Benefits				Other Benefits
	Six Months Ended				Six Months Ended
	June 30,				June 30,
	2023		2022			2023		2022
Service cost	$	—	$	—		$	—	$	2
Interest cost	497		369			11		6
Expected return on plan assets	(618)		(842)			—		—

Recognized actuarial loss (gain)	262		122			(31)		(38)

Net periodic benefit cost (return)	$	141	$	(351)		$	(20)	$	(30)

Incentive Compensation Plans

The Company maintains a long-term equity compensation plan that provides for the grant of stock options and the award of restricted stock. There were no stock options granted, nor compensation expense associated with options recorded, during the six months ended June 30, 2023 or 2022. There were no stock options outstanding as of June 30, 2023.

The Company also awards performance-based restricted stock to executives and other officers and employees and time-based restricted stock to non-employee directors, executives, and other officers and employees.

The following table summarizes the changes in restricted stock as of and for the six months ended June 30, 2023:


	Performance-Based Restricted Stock	Weighted Average Grant-Date Fair Value		Time-Based Restricted Stock	Weighted Average Grant-Date Fair Value
Nonvested at beginning of period	155,838	$	36.23	680,403	$	36.23
Awarded	81,867	35.57		334,467	35.52
Vested	—	—		(199,122)	35.37
Cancelled	—	—		(28,999)	35.49
Nonvested at end of period	237,705	$	36.01	786,749	$	36.17

During the six months ended June 30, 2023, the Company reissued 142,012 shares from treasury in connection with awards of restricted stock. The Company recorded total stock-based compensation expense of $3,395 and $2,952 for the three months ended June 30, 2023 and 2022, respectively, and $6,840 and $6,290 for the six months ended June 30, 2023 and 2022, respectively

Other Real Estate Owned - Changes in Purchased and Non-Purchased OREO (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Total OREO
Balance at January 1, 2023	$ 1,763
Transfers of loans	4,119
Impairments	(8)
Dispositions	(738)
Other	(16)
Balance at June 30, 2023	$ 5,120

Regulatory Matters

6 Months Ended

Jun. 30, 2023

Banking and Thrift, Interest [Abstract]

Regulatory Matters

(In Thousands)

The Company and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory, and possibly additional discretionary, actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. Capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors.

The Federal Reserve, the FDIC and the Office of the Comptroller of the Currency have issued guidelines governing the levels of capital that bank holding companies and banks must maintain. Those guidelines specify capital tiers, which include the following classifications:

Capital Tiers

Tier 1 Capital to
Average Assets
(Leverage)

Common Equity Tier 1 to
Risk - Weighted Assets

Tier 1 Capital to
Risk - Weighted
Assets

Total Capital to
Risk - Weighted
Assets

Well capitalized

5% or above

6.5% or above

8% or above

10% or above

Adequately capitalized

4% or above

4.5% or above

6% or above

8% or above

Undercapitalized

Less than 4%

Less than 4.5%

Less than 6%

Less than 8%

Significantly undercapitalized

Less than 3%

Less than 4%

Less than 6%

Critically undercapitalized

Tangible Equity / Total Assets less than 2%

The following table provides the capital and risk-based capital and leverage ratios for the Company and for the Bank as of the dates presented:


	June 30, 2023				December 31, 2022
	Amount		Ratio		Amount		Ratio
Renasant Corporation
Tier 1 Capital to Average Assets (Leverage)	$	1,524,545	9.22	%	$	1,481,197	9.36	%
Common Equity Tier 1 Capital to Risk-Weighted Assets	1,415,626		10.30	%	1,372,747		10.21	%
Tier 1 Capital to Risk-Weighted Assets	1,524,545		11.09	%	1,481,197		11.01	%
Total Capital to Risk-Weighted Assets	2,028,793		14.76	%	1,968,001		14.63	%
Renasant Bank
Tier 1 Capital to Average Assets (Leverage)	$	1,668,033	10.09	%	$	1,630,389	10.30	%
Common Equity Tier 1 Capital to Risk-Weighted Assets	1,668,033		12.06	%	1,630,389		12.10	%
Tier 1 Capital to Risk-Weighted Assets	1,668,033		12.06	%	1,630,389		12.10	%
Total Capital to Risk-Weighted Assets	1,835,954		13.27	%	1,781,312		13.22	%

Common Equity Tier 1 Capital (“CET1”) generally consists of common stock, retained earnings, accumulated other comprehensive income and certain minority interests, less certain adjustments and deductions. In addition, the Company must maintain a “capital conservation buffer,” which is a specified amount of CET1 capital in addition to the amount necessary to meet minimum risk-based capital requirements. The capital conservation buffer is designed to absorb losses during periods of economic stress. If the Company’s ratio of CET1 to risk-weighted capital is below the capital conservation buffer, the Company will face restrictions on its ability to pay dividends, repurchase outstanding stock and make certain discretionary bonus payments. The required capital conservation buffer is 2.5% of CET1 to risk-weighted assets in addition to the amount necessary to meet minimum risk-based capital requirements. As shown in the table above, as of June 30, 2023, the Company’s CET1 capital was in excess of the capital conservation buffer.

The Company elected to take advantage of transitional relief offered by the Federal Reserve and the FDIC to delay for two years the estimated impact of ASC Topic 326, “Financial Instruments - Credit Losses” (“ASC 326”), often referred to as CECL, on regulatory capital, followed by a three-year transitional period to phase out the capital benefit provided by the two-year delay. The three-year transitional period began on January 1, 2022

- Definition

The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union.

+ References + Details

Loans

6 Months Ended

Jun. 30, 2023

Receivables [Abstract]

Loans

(In Thousands, Except Number of Loans)

For purposes of this Note 3, all references to “loans” mean loans excluding loans held for sale.

The following is a summary of loans and leases as of the dates presented:


	June 30, 2023		December 31, 2022
Commercial, financial, agricultural	$	1,729,070	$	1,673,883
Lease financing	129,998		122,167
Real estate – construction:
Residential	308,401		355,500
Commercial	1,060,618		974,837
Total real estate – construction	1,369,019		1,330,337
Real estate – 1-4 family mortgage:
Primary	2,372,739		2,222,856
Home equity	502,341		501,906
Rental/investment	335,509		334,382
Land development	138,065		157,119
Total real estate – 1-4 family mortgage	3,348,654		3,216,263
Real estate – commercial mortgage:
Owner-occupied	1,553,890		1,539,296
Non-owner occupied	3,585,160		3,452,910
Land development	113,429		125,857
Total real estate – commercial mortgage	5,252,479		5,118,063
Installment loans to individuals	108,924		124,745
Gross loans	11,938,144		11,585,458
Unearned income	(7,628)		(7,154)
Loans, net of unearned income	$	11,930,516	$	11,578,304

Past Due and Nonaccrual Loans

Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Generally, the recognition of interest on loans is discontinued at the time the loan is 90 days past due unless the credit is well-secured and in process of collection. Consumer and other retail loans are typically charged-off no later than the time the loan is 120 days past due. In all cases, loans are placed on nonaccrual status or charged-off at an earlier date if collection of principal or interest is considered doubtful. Loans may be placed on nonaccrual status regardless of whether or not such loans are considered past due. For loans that are placed on nonaccrual status or charged-off, all interest accrued for the current year but not collected is reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual status. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.

The following tables provide an aging of past due accruing and nonaccruing loans, segregated by class, as of the dates presented:


	Accruing Loans								Nonaccruing Loans
	30-89 Days Past Due		90 Days or More Past Due		Current Loans		Total Loans		30-89 Days Past Due		90 Days or More Past Due		Current Loans		Total Loans		Total Loans
June 30, 2023
Commercial, financial, agricultural	$	238	$	228	$	1,721,134	$	1,721,600	$	14	$	1,904	$	5,552	$	7,470	$	1,729,070
Lease financing	—		—		129,998		129,998		—		—		—		—		129,998
Real estate – construction:
Residential	—		—		308,401		308,401		—		—		—		—		308,401
Commercial	—		—		1,060,618		1,060,618		—		—		—		—		1,060,618
Total real estate – construction	—		—		1,369,019		1,369,019		—		—		—		—		1,369,019
Real estate – 1-4 family mortgage:
Primary	6,127		—		2,330,145		2,336,272		4,350		17,260		14,857		36,467		2,372,739
Home equity	2,340		—		497,702		500,042		296		835		1,168		2,299		502,341
Rental/investment	146		1		332,277		332,424		319		2,236		530		3,085		335,509
Land development	64		—		137,982		138,046		—		3		16		19		138,065
Total real estate – 1-4 family mortgage	8,677		1		3,298,106		3,306,784		4,965		20,334		16,571		41,870		3,348,654
Real estate – commercial mortgage:
Owner-occupied	1,110		20,999		1,528,758		1,550,867		—		1,639		1,384		3,023		1,553,890
Non-owner occupied	741		15,092		3,566,577		3,582,410		—		—		2,750		2,750		3,585,160
Land development	414		—		112,961		113,375		7		—		47		54		113,429
Total real estate – commercial mortgage	2,265		36,091		5,208,296		5,246,652		7		1,639		4,181		5,827		5,252,479
Installment loans to individuals	966		1		107,685		108,652		25		123		124		272		108,924
Unearned income	—		—		(7,628)		(7,628)		—		—		—		—		(7,628)
Loans, net of unearned income	$	12,146	$	36,321	$	11,826,610	$	11,875,077	$	5,011	$	24,000	$	26,428	$	55,439	$	11,930,516


	Accruing Loans								Nonaccruing Loans
	30-89 Days Past Due		90 Days or More Past Due		Current Loans		Total Loans		30-89 Days Past Due		90 Days or More Past Due		Current Loans		Total Loans		Total Loans
December 31, 2022
Commercial, financial, agricultural	$	1,303	$	69	$	1,660,037	$	1,661,409	$	18	$	2,373	$	10,083	$	12,474	$	1,673,883
Lease financing	—		—		122,167		122,167		—		—		—		—		122,167
Real estate – construction:
Residential	49		—		355,374		355,423		—		—		77		77		355,500
Commercial	8,525		—		966,312		974,837		—		—		—		—		974,837
Total real estate – construction	8,574		—		1,321,686		1,330,260		—		—		77		77		1,330,337
Real estate – 1-4 family mortgage:
Primary	28,198		—		2,164,582		2,192,780		6,015		12,503		11,558		30,076		2,222,856
Home equity	5,376		—		494,621		499,997		450		754		705		1,909		501,906
Rental/investment	720		38		332,648		333,406		20		331		625		976		334,382
Land development	174		—		156,863		157,037		46		36		—		82		157,119
Total real estate – 1-4 family mortgage	34,468		38		3,148,714		3,183,220		6,531		13,624		12,888		33,043		3,216,263
Real estate – commercial mortgage:
Owner-occupied	8,557		219		1,525,240		1,534,016		1,495		2,244		1,541		5,280		1,539,296
Non-owner occupied	3,521		—		3,444,047		3,447,568		5,304		—		38		5,342		3,452,910
Land development	279		—		125,507		125,786		—		40		31		71		125,857
Total real estate – commercial mortgage	12,357		219		5,094,794		5,107,370		6,799		2,284		1,610		10,693		5,118,063
Installment loans to individuals	2,001		5		122,481		124,487		38		100		120		258		124,745
Unearned income	—		—		(7,154)		(7,154)		—		—		—		—		(7,154)
Loans, net of unearned income	$	58,703	$	331	$	11,462,725	$	11,521,759	$	13,386	$	18,381	$	24,778	$	56,545	$	11,578,304

Certain Modifications to Borrowers Experiencing Financial Difficulty

Certain modifications of loans made to borrowers experiencing financial difficulty in the form of principal forgiveness, an interest rate reduction, an other-than-insignificant payment delay, or a term extension, excluding covenant waivers and modification of contingent acceleration clauses, are required to be disclosed in accordance with Accounting Standards Update 2022-02, “Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures” (“ASU 2022-02”). At June 30, 2023, these loan modifications were performing in accordance with their modified terms and unused commitments totaled $1,600. Upon the Company’s determination that a modified loan has been subsequently deemed uncollectible, the loan, or portion of the loan, is charged off, the amortized cost basis of the loan is reduced by the uncollectible amount and the allowance for credit losses is adjusted accordingly. See Note 4, “Allowance for Credit Losses,” for more information on the allowance for credit losses.

The following table presents the amortized cost basis of loans that were both experiencing financial difficulty and modified during the three months and six months ended June 30, 2023, by class and by type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of loans is also presented below.


	Three Months Ended										Six Months Ended
	Interest Rate Reduction		Term Extension		Payment Delay		Total		% Total Loans by Class		Interest Rate Reduction		Term Extension		Payment Delay		Total		% Total Loans by Class
Commercial, financial, agricultural	$	—	$	1,210	$	—	$	1,210	0.07	%	$	—	$	1,210	$	—	$	1,210	0.07	%

Real estate – construction:
Residential	—		4,366		—		4,366		1.42		—		4,366		—		4,366		1.42

Total real estate – construction	—		4,366		—		4,366		0.32		—		4,366		—		4,366		0.32
Real estate – 1-4 family mortgage:

Home equity	9		—		—		9		—		9		—		—		9		—


Total real estate – 1-4 family mortgage	9		—		—		9		—		9		—		—		9		—
Real estate – commercial mortgage:
Owner-occupied	—		—		—		—		—		155		—		—		155		0.01
Non-owner occupied	—		—		—		—		—		1,026		—		—		1,026		0.03
Land development	—		97		277		374		0.33		—		97		277		374		0.33
Total real estate – commercial mortgage	—		97		277		374		0.01		1,181		97		277		1,555		0.03

Loans, net of unearned income	$	9	$	5,673	$	277	$	5,959	0.05	%	$	1,190	$	5,673	$	277	$	7,140	0.06	%

The following table presents the weighted average financial effect of the loan modifications presented above to borrowers experiencing financial difficulty for the three and six months ended June 30, 2023.


	Three Months Ended			Six Months Ended
	Interest Rate Reduction (in basis points)	Term Extension (in months)	Payment Delay (in months)	Interest Rate Reduction (in basis points)	Term Extension (in months)	Payment Delay (in months)
Commercial, financial, agricultural	—	2.1	—	—	2.1	—

Real estate – construction:
Residential	—	4.7	—	—	4.7	—


Real estate – 1-4 family mortgage:

Home equity	300	—	—	300	—	—



Real estate – commercial mortgage:
Owner-occupied	—	—	—	68	—	—
Non-owner occupied	—	—	—	12	—	—
Land development	—	8.4	3.0	—	8.4	3.0


Loans, net of unearned income	300	4.2	3.0	21	4.2	3.0

Credit Quality

For loans with a commercial purpose, internal risk-rating grades are assigned by lending, credit administration and loan review personnel, based on an analysis of the financial and collateral strength and other credit attributes underlying each loan.

Management analyzes the resulting ratings, as well as other external statistics and factors such as delinquency, to track the migration performance of the portfolio balances of commercial and commercial real estate secured loans. Loan grades range between 10 and 95, with 10 being loans with the least credit risk. Loans within the “Pass” grade (those with a risk rating between 10 and 60) generally have a lower risk of loss and therefore a lower risk factor applied to the loan balances. The “Special Mention” grade (those with a risk rating of 70) represents a loan where a significant adverse risk-modifying action is anticipated in the near term and, if left uncorrected, could result in deterioration of the credit quality of the loan. Loans that migrate toward the “Substandard” grade (those with a risk rating between 80 and 95) generally have a higher risk of loss and therefore a higher risk factor applied to those related loan balances.

The following tables present the Company’s loan portfolio by year of origination and internal risk-rating grades as of the dates presented:


	Term Loans Amortized Cost Basis by Origination Year
	2023		2022		2021		2020		2019		Prior		Revolving Loans		Revolving Loans Converted to Term		Total Loans
June 30, 2023
Commercial, Financial, Agricultural	$	160,357	$	337,339	$	181,509	$	115,728	$	57,124	$	48,682	$	807,867	$	8,310	$	1,716,916
Pass	159,095		330,341		180,712		114,617		56,481		38,893		792,703		8,071		1,680,913
Special Mention	108		255		84		882		122		1,360		3,437		73		6,321
Substandard	1,154		6,743		713		229		521		8,429		11,727		166		29,682

Lease Financing Receivables	$	23,672	$	54,488	$	15,192	$	16,291	$	8,155	$	4,572	$	—	$	—	$	122,370
Pass	23,672		51,207		14,852		14,069		7,209		3,461		—		—		114,470
Special Mention	—		2,903		—		2,148		880		1,111		—		—		7,042
Substandard	—		378		340		74		66		—		—		—		858

Real Estate - Construction	$	185,727	$	550,565	$	401,648	$	90,582	$	—	$	1,881	$	20,208	$	—	$	1,250,611
Residential	115,937		65,608		4,667		—		—		375		3,406		—		189,993
Pass	115,701		60,205		4,667		—		—		375		3,406		—		184,354
Special Mention	—		1,273		—		—		—		—		—		—		1,273
Substandard	236		4,130		—		—		—		—		—		—		4,366

Commercial	69,790		484,957		396,981		90,582		—		1,506		16,802		—		1,060,618
Pass	69,790		484,957		396,835		90,582		—		1,506		16,802		—		1,060,472
Special Mention	—		—		146		—		—		—		—		—		146
Substandard	—		—		—		—		—		—		—		—		—

Real Estate - 1-4 Family Mortgage	$	59,631	$	198,349	$	119,937	$	46,460	$	21,573	$	45,521	$	26,542	$	1,978	$	519,991
Primary	4,982		10,317		6,702		4,437		2,030		10,265		1,684		972		41,389
Pass	4,797		10,093		6,484		4,437		2,017		9,788		1,684		972		40,272
Special Mention	185		—		—		—		—		41		—		—		226
Substandard	—		224		218		—		13		436		—		—		891

Home Equity	1,258		188		1,066		—		36		26		16,086		102		18,762
Pass	1,258		188		1,024		—		36		3		16,038		—		18,547
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		42		—		—		23		48		102		215

Rental/Investment	32,640		130,610		77,454		41,538		19,341		26,730		6,169		904		335,386
Pass	32,183		129,979		76,118		39,050		17,653		24,885		6,169		688		326,725
Special Mention	49		244		64		6		53		210		—		—		626
Substandard	408		387		1,272		2,482		1,635		1,635		—		216		8,035

Land Development	20,751		57,234		34,715		485		166		8,500		2,603		—		124,454
Pass	20,711		57,184		34,715		466		166		8,356		2,603		—		124,201
Special Mention	—		50		—		—		—		101		—		—		151
Substandard	40		—		—		19		—		43		—		—		102


	Term Loans Amortized Cost Basis by Origination Year
	2023		2022		2021		2020		2019		Prior		Revolving Loans		Revolving Loans Converted to Term		Total Loans
Real Estate - Commercial Mortgage	$	299,282	$	1,632,288	$	1,081,857	$	703,409	$	451,560	$	920,297	$	125,452	$	24,729	$	5,238,874
Owner-Occupied	88,498		324,773		327,055		225,311		166,529		362,717		55,483		3,395		1,553,761
Pass	87,853		313,918		323,360		221,598		162,782		340,878		46,343		3,110		1,499,842
Special Mention	322		—		2,281		1,115		405		679		19		—		4,821
Substandard	323		10,855		1,414		2,598		3,342		21,160		9,121		285		49,098

Non-Owner Occupied	201,254		1,258,819		739,030		472,819		279,605		548,488		63,974		21,145		3,585,134
Pass	201,225		1,255,224		736,016		472,819		256,063		466,144		63,974		11,960		3,463,425
Special Mention	29		463		2,633		—		7,007		25,645		—		—		35,777
Substandard	—		3,132		381		—		16,535		56,699		—		9,185		85,932

Land Development	9,530		48,696		15,772		5,279		5,426		9,092		5,995		189		99,979
Pass	9,495		48,194		15,452		4,836		5,404		8,635		5,938		189		98,143
Special Mention	—		193		38		—		—		—		—		—		231
Substandard	35		309		282		443		22		457		57		—		1,605

Installment loans to individuals	$	—	$	—	$	—	$	—	$	13	$	—	$	—	$	—	$	13
Pass	—		—		—		—		13		—		—		—		13
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—		—

Total loans subject to risk rating	$	728,669	$	2,773,029	$	1,800,143	$	972,470	$	538,425	$	1,020,953	$	980,069	$	35,017	$	8,848,775
Pass	725,780		2,741,490		1,790,235		962,474		507,824		902,924		955,660		24,990		8,611,377
Special Mention	693		5,381		5,246		4,151		8,467		29,147		3,456		73		56,614
Substandard	2,196		26,158		4,662		5,845		22,134		88,882		20,953		9,954		180,784


	Term Loans Amortized Cost Basis by Origination Year
	2022		2021		2020		2019		2018		Prior		Revolving Loans		Revolving Loans Converted to Term		Total Loans
December 31, 2022
Commercial, Financial, Agricultural	$	460,604	$	209,964	$	142,790	$	63,164	$	25,099	$	35,142	$	717,422	$	3,522	$	1,657,707
Pass	450,559		209,580		141,712		62,370		21,963		28,014		704,491		2,384		1,621,073
Special Mention	719		—		1,010		383		678		—		11,616		80		14,486
Substandard	9,326		384		68		411		2,458		7,128		1,315		1,058		22,148

Lease Financing Receivables	$	61,424	$	18,379	$	18,318	$	10,628	$	4,557	$	1,707	$	—	$	—	$	115,013
Pass	58,204		18,379		15,846		9,060		3,269		1,353		—		—		106,111
Watch	—		—		—		—		—		354		—		—		354
Substandard	3,220		—		2,472		1,568		1,288		—		—		—		8,548

Real Estate - Construction	$	595,185	$	476,190	$	109,705	$	8,525	$	381	$	6,858	$	13,757	$	424	$	1,211,025
Residential	214,386		16,483		589		—		381		—		3,925		424		236,188
Pass	214,371		16,483		589		—		381		—		3,925		424		236,173
Special Mention	6		—		—		—		—		—		—		—		6
Substandard	9		—		—		—		—		—		—		—		9

Commercial	380,799		459,707		109,116		8,525		—		6,858		9,832		—		974,837
Pass	380,799		459,707		109,116		8,525		—		6,858		9,832		—		974,837
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—		—


	Term Loans Amortized Cost Basis by Origination Year
	2022		2021		2020		2019		2018		Prior		Revolving Loans		Revolving Loans Converted to Term		Total Loans
Real Estate - 1-4 Family Mortgage	$	233,370	$	141,066	$	48,653	$	24,664	$	25,604	$	35,971	$	26,920	$	1,238	$	537,486
Primary	12,877		7,965		5,068		2,435		4,522		8,723		4,931		106		46,627
Pass	12,616		7,965		5,068		2,421		4,522		8,419		4,931		106		46,048
Special Mention	—		—		—		—		—		51		—		—		51
Substandard	261		—		—		14		—		253		—		—		528

Home Equity	272		1,187		—		38		5		27		14,485		141		16,155
Pass	272		1,187		—		38		5		27		14,485		7		16,021
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		134		134

Rental/Investment	138,481		85,711		42,056		21,997		14,785		24,448		5,972		787		334,237
Pass	138,137		85,522		41,604		21,097		14,671		22,899		5,972		482		330,384
Special Mention	231		—		—		—		—		174		—		—		405
Substandard	113		189		452		900		114		1,375		—		305		3,448

Land Development	81,740		46,203		1,529		194		6,292		2,773		1,532		204		140,467
Pass	80,514		46,203		1,525		194		6,292		2,723		1,532		204		139,187
Special Mention	1,226		—		—		—		—		—		—		—		1,226
Substandard	—		—		4		—		—		50		—		—		54

Real Estate - Commercial Mortgage	$	1,624,197	$	1,000,563	$	713,303	$	531,424	$	277,862	$	810,919	$	121,305	$	25,173	$	5,104,746
Owner-Occupied	309,792		319,174		239,946		178,137		128,452		302,495		57,869		3,300		1,539,165
Pass	298,851		314,429		237,058		175,262		122,537		282,657		50,640		3,300		1,484,734
Special Mention	9,640		3,047		815		1,670		—		672		4,808		—		20,652
Substandard	1,301		1,698		2,073		1,205		5,915		19,166		2,421		—		33,779

Non-Owner Occupied	1,256,098		657,121		466,703		346,908		144,872		501,863		57,637		21,680		3,452,882
Pass	1,252,484		647,937		466,703		322,997		127,358		418,294		57,637		12,142		3,305,552
Special Mention	506		—		—		21,961		17,509		8,975		—		—		48,951
Substandard	3,108		9,184		—		1,950		5		74,594		—		9,538		98,379

Land Development	58,307		24,268		6,654		6,379		4,538		6,561		5,799		193		112,699
Pass	58,307		24,228		6,342		6,379		4,465		6,067		5,799		193		111,780
Special Mention	—		40		—		—		—		—		—		—		40
Substandard	—		—		312		—		73		494		—		—		879

Installment loans to individuals	$	—	$	—	$	—	$	24	$	—	$	—	$	—	$	—	$	24
Pass	—		—		—		24		—		—		—		—		24
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—		—

Total loans subject to risk rating	$	2,974,780	$	1,846,162	$	1,032,769	$	638,429	$	333,503	$	890,597	$	879,404	$	30,357	$	8,626,001
Pass	2,945,114		1,831,620		1,025,563		608,367		305,463		777,311		859,244		19,242		8,371,924
Special Mention	12,328		3,087		1,825		24,014		18,187		10,226		16,424		80		86,171
Substandard	17,338		11,455		5,381		6,048		9,853		103,060		3,736		11,035		167,906

The following tables present the performing status of the Company’s loan portfolio not subject to risk rating as of the dates presented:


	Term Loans Amortized Cost Basis by Origination Year
	2023		2022		2021		2020		2019		Prior		Revolving Loans		Revolving Loans Converted to Term		Total Loans
June 30, 2023
Commercial, Financial, Agricultural	$	—	$	13	$	—	$	—	$	—	$	12,141	$	—	$	—	$	12,154
Performing Loans	—		13		—		—		—		12,141		—		—		12,154
Non-Performing Loans	—		—		—		—		—		—		—		—		—





Real Estate - Construction	$	13,699	$	71,472	$	33,228	$	—	$	—	$	—	$	9	$	—	$	118,408
Residential	13,699		71,472		33,228		—		—		—		9		—		118,408
Performing Loans	13,699		71,472		33,228		—		—		—		9		—		118,408
Non-Performing Loans	—		—		—		—		—		—		—		—		—

Commercial	—		—		—		—		—		—		—		—		—
Performing Loans	—		—		—		—		—		—		—		—		—
Non-Performing Loans	—		—		—		—		—		—		—		—		—

Real Estate - 1-4 Family Mortgage	$	212,571	$	715,606	$	548,966	$	331,405	$	145,876	$	391,344	$	477,190	$	5,705	$	2,828,663
Primary	209,042		710,207		546,177		330,520		145,348		390,002		—		54		2,331,350
Performing Loans	208,984		706,836		542,180		323,546		140,598		372,881		—		54		2,295,079
Non-Performing Loans	58		3,371		3,997		6,974		4,750		17,121		—		—		36,271

Home Equity	—		—		111		—		—		627		477,190		5,651		483,579
Performing Loans	—		—		111		—		—		562		475,953		4,653		481,279
Non-Performing Loans	—		—		—		—		—		65		1,237		998		2,300

Rental/Investment	—		—		—		—		—		123		—		—		123
Performing Loans	—		—		—		—		—		123		—		—		123
Non-Performing Loans	—		—		—		—		—		—		—		—		—

Land Development	3,529		5,399		2,678		885		528		592		—		—		13,611
Performing Loans	3,529		5,399		2,678		885		528		592		—		—		13,611
Non-Performing Loans	—		—		—		—		—		—		—		—		—

Real Estate - Commercial Mortgage	$	2,816	$	3,768	$	3,223	$	2,203	$	1,046	$	549	$	—	$	—	$	13,605
Owner-Occupied	—		—		—		129		—		—		—		—		129
Performing Loans	—		—		—		129		—		—		—		—		129
Non-Performing Loans	—		—		—		—		—		—		—		—		—

Non-Owner Occupied	—		—		—		26		—		—		—		—		26
Performing Loans	—		—		—		26		—		—		—		—		26
Non-Performing Loans	—		—		—		—		—		—		—		—		—

Land Development	2,816		3,768		3,223		2,048		1,046		549		—		—		13,450
Performing Loans	2,816		3,725		3,223		2,044		1,046		549		—		—		13,403
Non-Performing Loans	—		43		—		4		—		—		—		—		47

Installment loans to individuals	$	21,153	$	25,881	$	10,415	$	4,340	$	11,782	$	21,476	$	13,843	$	21	$	108,911
Performing Loans	21,153		25,779		10,413		4,309		11,745		21,382		13,843		15		108,639
Non-Performing Loans	—		102		2		31		37		94		—		6		272

Total loans not subject to risk rating	$	250,239	$	816,740	$	595,832	$	337,948	$	158,704	$	425,510	$	491,042	$	5,726	$	3,081,741
Performing Loans	250,181		813,224		591,833		330,939		153,917		408,230		489,805		4,722		3,042,851
Non-Performing Loans	58		3,516		3,999		7,009		4,787		17,280		1,237		1,004		38,890


	Term Loans Amortized Cost Basis by Origination Year
	2022		2021		2020		2019		2018		Prior		Revolving Loans		Revolving Loans Converted to Term		Total Loans
December 31, 2022
Commercial, Financial, Agricultural	$	13	$	—	$	—	$	—	$	—	$	16,163	$	—	$	—	$	16,176
Performing Loans	13		—		—		—		—		16,163		—		—		16,176
Non-Performing Loans	—		—		—		—		—		—		—		—		—

Lease Financing Receivables	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Performing Loans	—		—		—		—		—		—		—		—		—
Non-Performing Loans	—		—		—		—		—		—		—		—		—

Real Estate - Construction	$	57,570	$	61,245	$	497	$	—	$	—	$	—	$	—	$	—	$	119,312
Residential	57,570		61,245		497		—		—		—		—		—		119,312
Performing Loans	57,493		61,245		497		—		—		—		—		—		119,235
Non-Performing Loans	77		—		—		—		—		—		—		—		77

Commercial	—		—		—		—		—		—		—		—		—
Performing Loans	—		—		—		—		—		—		—		—		—
Non-Performing Loans	—		—		—		—		—		—		—		—		—

Real Estate - 1-4 Family Mortgage	$	704,214	$	546,256	$	351,213	$	155,549	$	116,951	$	319,567	$	481,254	$	3,773	$	2,678,777
Primary	694,941		541,801		350,205		154,979		115,876		318,364		—		63		2,176,229
Performing Loans	694,221		538,870		345,912		150,821		109,156		307,178		—		63		2,146,221
Non-Performing Loans	720		2,931		4,293		4,158		6,720		11,186		—		—		30,008

Home Equity	—		111		—		—		—		676		481,254		3,710		485,751
Performing Loans	—		111		—		—		—		609		480,094		3,026		483,840
Non-Performing Loans	—		—		—		—		—		67		1,160		684		1,911

Rental/Investment	—		—		—		—		—		145		—		—		145
Performing Loans	—		—		—		—		—		145		—		—		145
Non-Performing Loans	—		—		—		—		—		—		—		—		—

Land Development	9,273		4,344		1,008		570		1,075		382		—		—		16,652
Performing Loans	9,257		4,344		1,008		570		1,075		319		—		—		16,573
Non-Performing Loans	16		—		—		—		—		63		—		—		79

Real Estate - Commercial Mortgage	$	4,805	$	3,518	$	2,587	$	1,281	$	691	$	435	$	—	$	—	$	13,317
Owner-Occupied	—		—		131		—		—		—		—		—		131
Performing Loans	—		—		131		—		—		—		—		—		131
Non-Performing Loans	—		—		—		—		—		—		—		—		—

Non-Owner Occupied	—		—		28		—		—		—		—		—		28
Performing Loans	—		—		28		—		—		—		—		—		28
Non-Performing Loans	—		—		—		—		—		—		—		—		—

Land Development	4,805		3,518		2,428		1,281		691		435		—		—		13,158
Performing Loans	4,805		3,518		2,422		1,281		691		435		—		—		13,152
Non-Performing Loans	—		—		6		—		—		—		—		—		6

Installment loans to individuals	$	44,255	$	15,976	$	6,416	$	14,252	$	17,095	$	10,626	$	16,062	$	39	$	124,721
Performing Loans	44,227		15,927		6,389		14,211		17,076		10,532		16,062		35		124,459
Non-Performing Loans	28		49		27		41		19		94		—		4		262

Total loans not subject to risk rating	$	810,857	$	626,995	$	360,713	$	171,082	$	134,737	$	346,791	$	497,316	$	3,812	$	2,952,303
Performing Loans	810,016		624,015		356,387		166,883		127,998		335,381		496,156		3,124		2,919,960
Non-Performing Loans	841		2,980		4,326		4,199		6,739		11,410		1,160		688		32,343

The following table discloses gross charge-offs by year of origination for the six months ended June 30:


	2023		2022		2021		2020		2019		Prior		Revolving Loans		Total Charge-offs
Commercial, financial, agricultural	$	17	$	403	$	118	$	120	$	—	$	3,945	$	865	$	5,468

Real estate – construction:
Residential	—		57		—		—		—		—		—		57


Real estate – 1-4 family mortgage:
Primary	—		—		—		—		—		57		—		57
Home equity	—		—		—		—		25		82		—		107
Rental/investment	—		51		—		—		—		—		—		51

Total real estate – 1-4 family mortgage	—		51		—		—		25		139		—		215
Real estate – commercial mortgage:
Owner-occupied	—		—		—		—		—		525		—		525
Non-owner occupied	—		—		—		2,442		—		2,545		—		4,987

Total real estate – commercial mortgage	—		—		—		2,442		—		3,070		—		5,512
Installment loans to individuals	3		37		38		5		2		1,305		—		1,390
Loans, net of unearned income	$	20	$	548	$	156	$	2,567	$	27	$	8,459	$	865	$	12,642

Mortgage Servicing Rights - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
(Positive) negative valuation adjustment to MSR			$ 0	$ 0
Bank Servicing
Disaggregation of Revenue [Line Items]
Revenue	$ 4,674,000	$ 5,000,000	$ 8,939,000	$ 9,423,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Net Income Per Common Share - Basic and Diluted Net Income Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Basic
Net income applicable to common stock	$ 28,643	$ 39,678	$ 74,721	$ 73,225
Average common shares outstanding (shares)	56,107,881	55,906,755	56,058,585	55,858,243
Net income per common share - basic (usd per share)	$ 0.51	$ 0.71	$ 1.33	$ 1.31
Diluted
Net income applicable to common stock	$ 28,643	$ 39,678	$ 74,721	$ 73,225
Average common shares outstanding (shares)	56,107,881	55,906,755	56,058,585	55,858,243
Effect of dilutive stock-based compensation (shares)	287,772	276,090	271,710	272,519
Average common shares outstanding - diluted (shares)	56,395,653	56,182,845	56,330,295	56,130,762
Net income per common share - diluted (usd per share)	$ 0.51	$ 0.71	$ 1.33	$ 1.30

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-10

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 16: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-52

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-7

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 15: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-52

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-7

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 6.B)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-5

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-10

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-11

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities, and addition from assumption of issuance of common shares for dilutive potential common shares; of income (loss) available to common shareholders.

+ References + Details

Securities - Gross Unrealized Losses and Fair Value by Investment Category (Details) $ in Thousands	Jun. 30, 2023 USD ($) security	Dec. 31, 2022 USD ($) security
Available for Sale:
Number of positions, Less than 12 Months \| security	18	247
Fair Value, Less than 12 Months	$ 21,123	$ 726,431
Unrealized Losses, Less than 12 Months	$ (1,241)	$ (41,924)
Number of positions, 12 Months or More \| security	143	98
Fair value, 12 Months or More	$ 889,083	$ 788,657
Unrealized Losses, 12 Months or More	$ (178,308)	$ (159,375)
Number of positions \| security	161	345
Fair Value	$ 910,206	$ 1,515,088
Unrealized Losses	$ (179,549)	$ (201,299)
Held to Maturity:
Number of positions, Less than 12 Months \| security	130	122
Fair Value, Less than 12 Months	$ 312,387	$ 448,575
Unrealized Losses, Less than 12 Months	$ (45,730)	$ (51,436)
Number of positions, 12 Months or More \| security	105	115
Fair Value, 12 Months or More	$ 837,063	$ 755,527
Unrealized Losses, 12 Months or More	$ (73,828)	$ (66,113)
Number of positions \| security	235	237
Fair Value	$ 1,149,450	$ 1,204,102
Unrealized Losses	$ (119,558)	$ (117,549)
Obligations of other U.S. Government agencies and corporations
Available for Sale:
Number of positions, Less than 12 Months \| security		5
Fair Value, Less than 12 Months		$ 164,660
Unrealized Losses, Less than 12 Months		$ (5,340)
Number of positions, 12 Months or More \| security		0
Fair value, 12 Months or More		$ 0
Unrealized Losses, 12 Months or More		$ 0
Number of positions \| security		5
Fair Value		$ 164,660
Unrealized Losses		$ (5,340)
Obligations of states and political subdivisions
Available for Sale:
Number of positions, Less than 12 Months \| security	10	84
Fair Value, Less than 12 Months	$ 7,827	$ 96,939
Unrealized Losses, Less than 12 Months	$ (35)	$ (4,869)
Number of positions, 12 Months or More \| security	10	11
Fair value, 12 Months or More	$ 23,073	$ 33,038
Unrealized Losses, 12 Months or More	$ (3,404)	$ (4,499)
Number of positions \| security	20	95
Fair Value	$ 30,900	$ 129,977
Unrealized Losses	$ (3,439)	$ (9,368)
Held to Maturity:
Number of positions, Less than 12 Months \| security	126	105
Fair Value, Less than 12 Months	$ 242,673	$ 191,442
Unrealized Losses, Less than 12 Months	$ (42,767)	$ (35,871)
Number of positions, 12 Months or More \| security	1	24
Fair Value, 12 Months or More	$ 426	$ 49,697
Unrealized Losses, 12 Months or More	$ (15)	$ (12,454)
Number of positions \| security	127	129
Fair Value	$ 243,099	$ 241,139
Unrealized Losses	$ (42,782)	$ (48,325)
Other debt securities
Available for Sale:
Number of positions, Less than 12 Months \| security	3	25
Fair Value, Less than 12 Months	$ 5,492	$ 63,423
Unrealized Losses, Less than 12 Months	$ (800)	$ (3,167)
Number of positions, 12 Months or More \| security	18	1
Fair value, 12 Months or More	$ 32,171	$ 7,412
Unrealized Losses, 12 Months or More	$ (4,869)	$ (883)
Number of positions \| security	21	26
Fair Value	$ 37,663	$ 70,835
Unrealized Losses	$ (5,669)	$ (4,050)
Held to Maturity:
Number of positions, Less than 12 Months \| security	0	2
Fair Value, Less than 12 Months	$ 0	$ 42,567
Unrealized Losses, Less than 12 Months	$ 0	$ (2,013)
Number of positions, 12 Months or More \| security	10	8
Fair Value, 12 Months or More	$ 50,323	$ 16,042
Unrealized Losses, 12 Months or More	$ (5,058)	$ (2,253)
Number of positions \| security	10	10
Fair Value	$ 50,323	$ 58,609
Unrealized Losses	$ (5,058)	$ (4,266)
Government agency mortgage backed securities \| Residential mortgage backed securities:
Available for Sale:
Number of positions, Less than 12 Months \| security	4	97
Fair Value, Less than 12 Months	$ 6,673	$ 214,516
Unrealized Losses, Less than 12 Months	$ (368)	$ (15,115)
Number of positions, 12 Months or More \| security	46	29
Fair value, 12 Months or More	$ 275,823	$ 237,970
Unrealized Losses, 12 Months or More	$ (42,383)	$ (36,921)
Number of positions \| security	50	126
Fair Value	$ 282,496	$ 452,486
Unrealized Losses	$ (42,751)	$ (52,036)
Held to Maturity:
Number of positions, Less than 12 Months \| security	2	8
Fair Value, Less than 12 Months	$ 39,028	$ 94,258
Unrealized Losses, Less than 12 Months	$ (1,387)	$ (4,186)
Number of positions, 12 Months or More \| security	68	62
Fair Value, 12 Months or More	$ 395,220	$ 364,870
Unrealized Losses, 12 Months or More	$ (24,410)	$ (20,246)
Number of positions \| security	70	70
Fair Value	$ 434,248	$ 459,128
Unrealized Losses	$ (25,797)	$ (24,432)
Government agency mortgage backed securities \| Commercial mortgage backed securities:
Available for Sale:
Number of positions, Less than 12 Months \| security	0	4
Fair Value, Less than 12 Months	$ 0	$ 10,114
Unrealized Losses, Less than 12 Months	$ 0	$ (1,053)
Number of positions, 12 Months or More \| security	2	0
Fair value, 12 Months or More	$ 5,245	$ 0
Unrealized Losses, 12 Months or More	$ (797)	$ 0
Number of positions \| security	2	4
Fair Value	$ 5,245	$ 10,114
Unrealized Losses	$ (797)	$ (1,053)
Held to Maturity:
Number of positions, Less than 12 Months \| security	0	1
Fair Value, Less than 12 Months	$ 0	$ 13,745
Unrealized Losses, Less than 12 Months	$ 0	$ (3,261)
Number of positions, 12 Months or More \| security	1	0
Fair Value, 12 Months or More	$ 13,764	$ 0
Unrealized Losses, 12 Months or More	$ (3,231)	$ 0
Number of positions \| security	1	1
Fair Value	$ 13,764	$ 13,745
Unrealized Losses	$ (3,231)	$ (3,261)
Government agency collateralized mortgage obligations \| Residential mortgage backed securities:
Available for Sale:
Number of positions, Less than 12 Months \| security	0	16
Fair Value, Less than 12 Months	$ 0	$ 109,753
Unrealized Losses, Less than 12 Months	$ 0	$ (8,552)
Number of positions, 12 Months or More \| security	41	36
Fair value, 12 Months or More	$ 415,090	$ 391,416
Unrealized Losses, 12 Months or More	$ (101,385)	$ (95,312)
Number of positions \| security	41	52
Fair Value	$ 415,090	$ 501,169
Unrealized Losses	$ (101,385)	$ (103,864)
Held to Maturity:
Number of positions, Less than 12 Months \| security	1	4
Fair Value, Less than 12 Months	$ 26,396	$ 98,912
Unrealized Losses, Less than 12 Months	$ (1,278)	$ (5,479)
Number of positions, 12 Months or More \| security	17	14
Fair Value, 12 Months or More	$ 344,025	$ 293,698
Unrealized Losses, 12 Months or More	$ (34,094)	$ (25,227)
Number of positions \| security	18	18
Fair Value	$ 370,421	$ 392,610
Unrealized Losses	$ (35,372)	$ (30,706)
Government agency collateralized mortgage obligations \| Commercial mortgage backed securities:
Available for Sale:
Number of positions, Less than 12 Months \| security	1	16
Fair Value, Less than 12 Months	$ 1,131	$ 67,026
Unrealized Losses, Less than 12 Months	$ (38)	$ (3,828)
Number of positions, 12 Months or More \| security	26	21
Fair value, 12 Months or More	$ 137,681	$ 118,821
Unrealized Losses, 12 Months or More	$ (25,470)	$ (21,760)
Number of positions \| security	27	37
Fair Value	$ 138,812	$ 185,847
Unrealized Losses	$ (25,508)	$ (25,588)
Held to Maturity:
Number of positions, Less than 12 Months \| security	1	2
Fair Value, Less than 12 Months	$ 4,290	$ 7,651
Unrealized Losses, Less than 12 Months	$ (298)	$ (626)
Number of positions, 12 Months or More \| security	8	7
Fair Value, 12 Months or More	$ 33,305	$ 31,220
Unrealized Losses, 12 Months or More	$ (7,020)	$ (5,933)
Number of positions \| security	9	9
Fair Value	$ 37,595	$ 38,871
Unrealized Losses	$ (7,318)	$ (6,559)

Securities

6 Months Ended

Jun. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Securities

(In Thousands, Except Number of Securities)

The amortized cost and fair value of securities available for sale were as follows as of the dates presented in the tables below.

There was no allowance for credit losses allocated to any of the Company’s available for sale securities as of June 30, 2023 or December 31, 2022.


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
June 30, 2023


Obligations of states and political subdivisions	$	41,474	$	16	$	(3,439)	$	38,051
Residential mortgage backed securities:
Government agency mortgage backed securities	328,760		28		(42,751)		286,037
Government agency collateralized mortgage obligations	516,474		—		(101,385)		415,089
Commercial mortgage backed securities:
Government agency mortgage backed securities	6,042		—		(797)		5,245
Government agency collateralized mortgage obligations	164,320		—		(25,508)		138,812

Other debt securities	73,049		316		(5,669)		67,696

	$	1,130,119	$	360	$	(179,549)	$	950,930


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2022

Obligations of other U.S. Government agencies and corporations	$	170,000	$	—	$	(5,340)	$	164,660
Obligations of states and political subdivisions	154,066		204		(9,368)		144,902
Residential mortgage backed securities:
Government agency mortgage backed securities	508,415		37		(52,036)		456,416
Government agency collateralized mortgage obligations	605,033		—		(103,864)		501,169
Commercial mortgage backed securities:
Government agency mortgage backed securities	11,166		—		(1,053)		10,113
Government agency collateralized mortgage obligations	211,435		—		(25,589)		185,846

Other debt securities	74,885		—		(4,049)		70,836

	$	1,735,000	$	241	$	(201,299)	$	1,533,942

The amortized cost and fair value of securities held to maturity were as follows as of the dates presented:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
June 30, 2023
Obligations of states and political subdivisions	$	289,949	$	23	$	(42,782)	$	247,190
Residential mortgage backed securities
Government agency mortgage backed securities	455,199		—		(25,797)		429,402
Government agency collateralized mortgage obligations	405,793		—		(35,372)		370,421
Commercial mortgage backed securities:
Government agency mortgage backed securities	16,995		—		(3,231)		13,764
Government agency collateralized mortgage obligations	44,913		—		(7,318)		37,595
Other debt securities	60,227		—		(5,058)		55,169
	$	1,273,076	$	23	$	(119,558)	$	1,153,541
Allowance for credit losses - held to maturity securities	(32)
Held to maturity securities, net of allowance for credit losses	$	1,273,044


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2022
Obligations of states and political subdivisions	$	291,886	$	17	$	(48,325)	$	243,578
Residential mortgage backed securities
Government agency mortgage backed securities	483,560		—		(24,432)		459,128
Government agency collateralized mortgage obligations	423,315		—		(30,706)		392,609
Commercial mortgage backed securities:
Government agency mortgage backed securities	17,006		—		(3,261)		13,745
Government agency collateralized mortgage obligations	45,430		—		(6,559)		38,871
Other debt securities	62,875		—		(4,266)		58,609
	$	1,324,072	$	17	$	(117,549)	$	1,206,540
Allowance for credit losses - held to maturity securities	(32)
Held to maturity securities, net of allowance for credit losses	$	1,324,040

Securities sold were as follows for the three and six months ended June 30, 2023. There were no securities sold during the three and six months ended June 30, 2022.



	Carrying Value		Net Proceeds		(Loss)
Three months ended June 30, 2023
Obligations of other U.S. Government agencies and corporations	$	170,000	$	164,915	$	(5,085)
Obligations of states and political subdivisions	104,950		99,439		$	(5,511)
Residential mortgage backed securities:
Government agency mortgage backed securities	137,196		130,602		$	(6,594)
Government agency collateralized mortgage obligations	54,028		51,101		(2,927)
Commercial mortgage backed securities:
Government agency mortgage backed securities	5,048		4,825		(223)
Government agency collateralized mortgage obligations	40,197		38,099		(2,098)



	$	511,419	$	488,981	$	(22,438)
Six months ended June 30, 2023
Obligations of other U.S. Government agencies and corporations	$	170,000	$	164,915	$	(5,085)
Obligations of states and political subdivisions	104,950		99,439		(5,511)
Residential mortgage backed securities:
Government agency mortgage backed securities	137,196		130,602		(6,594)
Government agency collateralized mortgage obligations	54,028		51,101		(2,927)
Commercial mortgage backed securities:
Government agency mortgage backed securities	5,048		4,825		(223)
Government agency collateralized mortgage obligations	40,197		38,099		(2,098)



	$	511,419	$	488,981	$	(22,438)

At June 30, 2023 and December 31, 2022, securities with a carrying value of $771,201 and $824,417, respectively, were pledged to secure government, public and trust deposits. Securities with a carrying value of $14,822 and $18,184 were pledged as collateral for short-term borrowings and derivative instruments at June 30, 2023 and December 31, 2022, respectively.

The amortized cost and fair value of securities at June 30, 2023 by contractual maturity are shown below. Expected maturities will differ from contractual maturities because issuers may call or prepay obligations with or without call or prepayment penalties.


	Held to Maturity				Available for Sale
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due within one year	$	—	$	—	$	8,630	$	8,599
Due after one year through five years	3,294		3,115		37,323		37,428
Due after five years through ten years	70,241		61,158		51,728		44,978
Due after ten years	216,413		182,917		16,769		14,671
Residential mortgage backed securities:
Government agency mortgage backed securities	455,199		429,402		328,760		286,037
Government agency collateralized mortgage obligations	405,793		370,421		516,474		415,089
Commercial mortgage backed securities:
Government agency mortgage backed securities	16,995		13,764		6,042		5,245
Government agency collateralized mortgage obligations	44,913		37,595		164,320		138,812
Other debt securities	60,228		55,169		73		71

	$	1,273,076	$	1,153,541	$	1,130,119	$	950,930

The following tables present the age of gross unrealized losses and fair value by investment category for which an allowance for credit losses has not been recorded as of the dates presented:


	Less than 12 Months					12 Months or More					Total
	#	Fair Value		Unrealized Losses		#	Fair Value		Unrealized Losses		#	Fair Value		Unrealized Losses
Available for Sale:
June 30, 2023

Obligations of states and political subdivisions	10	7,827		(35)		10	23,073		(3,404)		20	30,900		(3,439)
Residential mortgage backed securities:
Government agency mortgage backed securities	4	6,673		(368)		46	275,823		(42,383)		50	282,496		(42,751)
Government agency collateralized mortgage obligations	0	—		—		41	415,090		(101,385)		41	415,090		(101,385)
Commercial mortgage backed securities:
Government agency mortgage backed securities	—	—		—		2	5,245		(797)		2	5,245		(797)
Government agency collateralized mortgage obligations	1	1,131		(38)		26	137,681		(25,470)		27	138,812		(25,508)

Other debt securities	3	5,492		(800)		18	32,171		(4,869)		21	37,663		(5,669)
Total	18	$	21,123	$	(1,241)	143	$	889,083	$	(178,308)	161	$	910,206	$	(179,549)
December 31, 2022
Obligations of other U.S. Government agencies and corporations	5	$	164,660	$	(5,340)	—	$	—	$	—	5	$	164,660	$	(5,340)
Obligations of states and political subdivisions	84	$	96,939	$	(4,869)	11	$	33,038	$	(4,499)	95	$	129,977	$	(9,368)
Residential mortgage backed securities:
Government agency mortgage backed securities	97	214,516		(15,115)		29	237,970		(36,921)		126	452,486		(52,036)
Government agency collateralized mortgage obligations	16	109,753		(8,552)		36	391,416		(95,312)		52	501,169		(103,864)
Commercial mortgage backed securities:
Government agency mortgage backed securities	4	10,114		(1,053)		—	—		—		4	10,114		(1,053)
Government agency collateralized mortgage obligations	16	67,026		(3,828)		21	118,821		(21,760)		37	185,847		(25,588)

Other debt securities	25	63,423		(3,167)		1	7,412		(883)		26	70,835		(4,050)

Total	247	$	726,431	$	(41,924)	98	$	788,657	$	(159,375)	345	$	1,515,088	$	(201,299)


	Less than 12 Months					12 Months or More					Total
	#	Fair Value		Unrealized Losses		#	Fair Value		Unrealized Losses		#	Fair Value		Unrealized Losses
Held to Maturity:
June 30, 2023
Obligations of states and political subdivisions	126	$	242,673	$	(42,767)	1	$	426	$	(15)	127	$	243,099	$	(42,782)
Residential mortgage backed securities:
Government agency mortgage backed securities	2	39,028		(1,387)		68	395,220		(24,410)		70	434,248		(25,797)
Government agency collateralized mortgage obligations	1	26,396		(1,278)		17	344,025		(34,094)		18	370,421		(35,372)
Commercial mortgage backed securities:
Government agency mortgage backed securities	—	—		—		1	13,764		(3,231)		1	13,764		(3,231)
Government agency collateralized mortgage obligations	1	4,290		(298)		8	33,305		(7,020)		9	37,595		(7,318)
Other debt securities	—	—		—		10	50,323		(5,058)		10	50,323		(5,058)
Total	130	$	312,387	$	(45,730)	105	$	837,063	$	(73,828)	235	$	1,149,450	$	(119,558)
December 31, 2022
Obligations of states and political subdivisions	105	$	191,442	$	(35,871)	24	$	49,697	$	(12,454)	129	$	241,139	$	(48,325)
Residential mortgage backed securities:
Government agency mortgage backed securities	8	94,258		(4,186)		62	364,870		(20,246)		70	459,128		(24,432)
Government agency collateralized mortgage obligations	4	98,912		(5,479)		14	293,698		(25,227)		18	392,610		(30,706)
Commercial mortgage backed securities:
Government agency mortgage backed securities	1	13,745		(3,261)		—	—		—		1	13,745		(3,261)
Government agency collateralized mortgage obligations	2	7,651		(626)		7	31,220		(5,933)		9	38,871		(6,559)
Other debt securities	2	42,567		(2,013)		8	16,042		(2,253)		10	58,609		(4,266)
Total	122	$	448,575	$	(51,436)	115	$	755,527	$	(66,113)	237	$	1,204,102	$	(117,549)

The Company evaluates its investment portfolio for impairment related to credit losses on a quarterly basis. Impairment is assessed at the individual security level. The Company considers an investment security impaired if the fair value of the security is less than its cost or amortized cost basis. If the Company intends to sell the investment security or if the Company does not expect to recover the entire amortized cost basis of the security before the Company is required to sell the security or before the security’s maturity, the security is impaired and written down to fair value with all losses recognized in earnings.

As of June 30, 2023, the Company does not intend to sell any securities in an unrealized loss position, and it is not more likely than not that the Company will be required to sell any such security prior to the recovery of its amortized cost basis, which may be at maturity. Furthermore, even though a number of these securities have been in a continuous unrealized loss position for a period longer than twelve months, the Company is collecting principal and interest payments from the respective issuers as scheduled. Based upon its review of securities with unrealized losses as of June 30, 2023, the Company determined that all such losses resulted from factors not deemed credit related. As such, the Company did not record any impairment for the first six months of 2023.

The allowance for credit losses on held to maturity securities was $32 at June 30, 2023 and December 31, 2022. The Company monitors the credit quality of debt securities held to maturity using bond investment grades assigned by third party ratings agencies. Updated investment grades are obtained as they become available from agencies. As of June 30, 2023, all of the amortized cost of debt securities held to maturity were rated A or higher by the ratings agencies.

Loans - Gross Charge-Offs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Current year			$ 20
Prior year			548
Two years prior			156
Three years prior			2,567
Four years prior			27
Prior			8,459
Revolving Loans			865
Total Charge-offs	$ 6,185	$ 3,958	12,642	$ 7,015
Commercial, financial, agricultural
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Current year			17
Prior year			403
Two years prior			118
Three years prior			120
Four years prior			0
Prior			3,945
Revolving Loans			865
Total Charge-offs	4,939	2,239	5,468	4,341
Real estate – construction:
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Total Charge-offs	57	0	57	0
Real estate – construction: \| Residential
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Current year			0
Prior year			57
Two years prior			0
Three years prior			0
Four years prior			0
Prior			0
Revolving Loans			0
Total Charge-offs			57
Real estate – 1-4 family mortgage:
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Current year			0
Prior year			51
Two years prior			0
Three years prior			0
Four years prior			25
Prior			139
Revolving Loans			0
Total Charge-offs	212	161	215	324
Real estate – 1-4 family mortgage: \| Primary
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Current year			0
Prior year			0
Two years prior			0
Three years prior			0
Four years prior			0
Prior			57
Revolving Loans			0
Total Charge-offs			57
Real estate – 1-4 family mortgage: \| Home equity
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Current year			0
Prior year			0
Two years prior			0
Three years prior			0
Four years prior			25
Prior			82
Revolving Loans			0
Total Charge-offs			107
Real estate – 1-4 family mortgage: \| Rental/investment
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Current year			0
Prior year			51
Two years prior			0
Three years prior			0
Four years prior			0
Prior			0
Revolving Loans			0
Total Charge-offs			51
Real Estate - Commercial Mortgage
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Current year			0
Prior year			0
Two years prior			0
Three years prior			2,442
Four years prior			0
Prior			3,070
Revolving Loans			0
Total Charge-offs	397	708	5,512	714
Real Estate - Commercial Mortgage \| Owner-occupied
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Current year			0
Prior year			0
Two years prior			0
Three years prior			0
Four years prior			0
Prior			525
Revolving Loans			0
Total Charge-offs			525
Real Estate - Commercial Mortgage \| Non-owner occupied
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Current year			0
Prior year			0
Two years prior			0
Three years prior			2,442
Four years prior			0
Prior			2,545
Revolving Loans			0
Total Charge-offs			4,987
Installment loans to individuals
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]
Current year			3
Prior year			37
Two years prior			38
Three years prior			5
Four years prior			2
Prior			1,305
Revolving Loans			0
Total Charge-offs	$ 580	$ 850	$ 1,390	$ 1,629

Allowance for Credit Losses (Tables)

6 Months Ended

Jun. 30, 2023

Receivables [Abstract]

Roll forward of the allowance for loan losses

The following tables provide a roll-forward of the allowance for credit losses by loan category and a breakdown of the ending balance of the allowance based on the Company’s credit loss methodology for the periods presented:


	Commercial		Real Estate - Construction		Real Estate - 1-4 Family Mortgage		Real Estate - Commercial Mortgage		Lease Financing		Installment Loans to Individuals		Total
Three Months Ended June 30, 2023
Allowance for credit losses:
Beginning balance	$	44,678	$	19,959	$	45,981	$	72,770	$	2,437	$	9,467	$	195,292

Charge-offs	(4,939)		(57)		(212)		(397)		—		(580)		(6,185)
Recoveries	1,274		—		170		278		6		556		2,284
Net (charge-offs) recoveries	(3,665)		(57)		(42)		(119)		6		(24)		(3,901)
Provision for (recovery of) credit losses on loans	297		(777)		495		3,016		37		(68)		3,000
Ending balance	$	41,310	$	19,125	$	46,434	$	75,667	$	2,480	$	9,375	$	194,391
Six Months Ended June 30, 2023
Allowance for credit losses:
Beginning balance	$	44,255	$	19,114	$	44,727	$	71,798	$	2,463	$	9,733	$	192,090
Initial impact of purchased credit deteriorated loans acquired during the period	(26)		—		—		—		—		—		(26)
Charge-offs	(5,468)		(57)		(215)		(5,512)		—		(1,390)		(12,642)
Recoveries	1,999		—		194		489		11		1,316		4,009
Net (charge-offs) recoveries	(3,469)		(57)		(21)		(5,023)		11		(74)		(8,633)
Provision for (recovery of) credit losses on loans	550		68		1,728		8,892		6		(284)		10,960
Ending balance	$	41,310	$	19,125	$	46,434	$	75,667	$	2,480	$	9,375	$	194,391
Period-End Amount Allocated to:
Individually evaluated	$	10,773	$	—	$	703	$	1,269	$	—	$	270	$	13,015
Collectively evaluated	30,537		19,125		45,731		74,398		2,480		9,105		181,376
Ending balance	$	41,310	$	19,125	$	46,434	$	75,667	$	2,480	$	9,375	$	194,391
Loans:
Individually evaluated	$	21,418	$	—	$	13,545	$	40,239	$	—	$	270	$	75,472
Collectively evaluated	1,707,652		1,369,019		3,335,109		5,212,240		122,370		108,654		11,855,044
Ending balance	$	1,729,070	$	1,369,019	$	3,348,654	$	5,252,479	$	122,370	$	108,924	$	11,930,516

Nonaccruing loans with no allowance for credit losses	$	2,021	$	—	$	10,516	$	3,969	$	—	$	—	$	16,506


	Commercial		Real Estate - Construction		Real Estate - 1-4 Family Mortgage		Real Estate - Commercial Mortgage		Lease Financing		Installment Loans to Individuals		Total

Three Months Ended June 30, 2022
Allowance for credit losses:
Beginning balance	$	33,606	$	18,411	$	36,848	$	65,231	$	1,582	$	10,790	$	166,468

Charge-offs	(2,239)		—		(161)		(708)		—		(850)		(3,958)
Recoveries	431		—		169		192		11		818		1,621
Net (charge-offs) recoveries	(1,808)		—		8		(516)		11		(32)		(2,337)
Provision for (recovery of) credit losses on loans	(1,605)		(1,121)		5,054		(342)		209		(195)		2,000
Ending balance	$	30,193	$	17,290	$	41,910	$	64,373	$	1,802	$	10,563	$	166,131
Six Months Ended June 30, 2022
Allowance for credit losses:
Beginning balance	$	33,922	$	16,419	$	32,356	$	68,940	$	1,486	$	11,048	$	164,171
Initial impact of purchased credit deteriorated loans acquired during the period	1,648		—		—		—		—		—		1,648
Charge-offs	(4,341)		—		(324)		(714)		(7)		(1,629)		(7,015)
Recoveries	1,567		—		347		347		23		1,543		3,827
Net (charge-offs) recoveries	(2,774)		—		23		(367)		16		(86)		(3,188)
Provision for (recovery of) credit losses on loans	(2,603)		871		9,531		(4,200)		300		(399)		3,500
Ending balance	$	30,193	$	17,290	$	41,910	$	64,373	$	1,802	$	10,563	$	166,131
Period-End Amount Allocated to:
Individually evaluated	$	4,567	$	—	$	85	$	1,674	$	—	$	570	$	6,896
Collectively evaluated	25,626		17,290		41,825		62,699		1,802		9,993		159,235
Ending balance	$	30,193	$	17,290	$	41,910	$	64,373	$	1,802	$	10,563	$	166,131
Loans:
Individually evaluated	$	9,534	$	—	$	4,127	$	11,716	$	—	$	570	$	25,947
Collectively evaluated	1,487,738		1,126,363		3,025,956		4,705,797		101,350		130,593		10,577,797
Ending balance	$	1,497,272	$	1,126,363	$	3,030,083	$	4,717,513	$	101,350	$	131,163	$	10,603,744

Nonaccruing loans with no allowance for credit losses	$	849	$	—	$	3,594	$	3,492	$	—	$	—	$	7,935

Unfunded loan commitments, allowance for credit losses

The following table provides a roll-forward of the allowance for credit losses on unfunded loan commitments for the periods presented.


Three Months Ended June 30,	2023		2022
Allowance for credit losses on unfunded loan commitments:
Beginning balance	$	18,618	$	19,485
(Recovery of) provision for credit losses on unfunded loan commitments (included in other noninterest expense)	(1,000)		450
Ending balance	$	17,618	$	19,935

Six Months Ended June 30,	2023		2022
Allowance for credit losses on unfunded loan commitments:
Beginning balance	$	20,118	$	20,035
Recovery of credit losses on unfunded loan commitments (included in other noninterest expense)	(2,500)		(100)
Ending balance	$	17,618	$	19,935

Goodwill and Other Intangible Assets - Summary of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	$ 90,162	$ 90,162
Accumulated Amortization	(68,781)	(65,986)
Net Carrying Amount	21,381	24,176
Core deposit intangibles
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	82,492	82,492
Accumulated Amortization	(66,466)	(64,339)
Net Carrying Amount	16,026	18,153
Customer relationship intangible
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Amount	7,670	7,670
Accumulated Amortization	(2,315)	(1,647)
Net Carrying Amount	$ 5,355	$ 6,023

Regulatory Matters - Capital and Risk-Based Capital and Leverage Ratios (Details) $ in Thousands	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Renasant Corporation
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Tier 1 Capital to Average Assets (Leverage) - Amount	$ 1,524,545	$ 1,481,197
Tier 1 Capital to Average Assets (Leverage) - Ratio	0.0922	0.0936
Common Equity Tier 1 Capital to Risk-Weighted Assets - Amount	$ 1,415,626	$ 1,372,747
Common Equity Tier 1 Capital to Risk-Weighted Assets - Ratio	10.30%	10.21%
Tier 1 Capital to Risk-Weighted Assets - Amount	$ 1,524,545	$ 1,481,197
Tier 1 Capital to Risk-Weighted Assets - Ratio	0.1109	0.1101
Total Capital to Risk-Weighted Assets - Amount	$ 2,028,793	$ 1,968,001
Total Capital to Risk-Weighted Assets - Ratio	0.1476	0.1463
Renasant Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Tier 1 Capital to Average Assets (Leverage) - Amount	$ 1,668,033	$ 1,630,389
Tier 1 Capital to Average Assets (Leverage) - Ratio	0.1009	0.1030
Common Equity Tier 1 Capital to Risk-Weighted Assets - Amount	$ 1,668,033	$ 1,630,389
Common Equity Tier 1 Capital to Risk-Weighted Assets - Ratio	12.06%	12.10%
Tier 1 Capital to Risk-Weighted Assets - Amount	$ 1,668,033	$ 1,630,389
Tier 1 Capital to Risk-Weighted Assets - Ratio	0.1206	0.1210
Total Capital to Risk-Weighted Assets - Amount	$ 1,835,954	$ 1,781,312
Total Capital to Risk-Weighted Assets - Ratio	0.1327	0.1322

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Operating activities
Net income	$ 74,721,000	$ 73,225,000
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Provision for credit losses	10,960,000	3,500,000
Depreciation, amortization and accretion	18,365,000	23,947,000
Deferred income tax expense	302,000	5,150,000
Funding of mortgage loans held for sale	(659,921,000)	(1,076,613,000)
Proceeds from sales of mortgage loans held for sale	526,853,000	1,345,924,000
Gains on sales of mortgage loans held for sale	(9,417,000)	(9,537,000)
Losses on sales of securities	22,438,000	0
Losses (gains) on sales of premises and equipment	7,000	(236,000)
Stock-based compensation expense	6,840,000	6,290,000
Increase in other assets	(26,264,000)	(2,867,000)
Increase (decrease) in other liabilities	3,576,000	(19,077,000)
Net cash (used in) provided by operating activities	(31,540,000)	349,706,000
Investing activities
Purchases of securities available for sale	0	(609,752,000)
Proceeds from sales of securities available for sale	488,981,000	0
Proceeds from call/maturities of securities available for sale	90,830,000	249,394,000
Purchases of securities held to maturity	0	(91,803,000)
Proceeds from call/maturities of securities held to maturity	54,123,000	17,262,000
Net increase in loans	(363,231,000)	(555,936,000)
Purchases of premises and equipment	(12,353,000)	(5,865,000)
Proceeds from sales of premises and equipment	0	933,000
Purchase of bank-owned life insurance	0	(80,000,000)
Net change in FHLB stock	13,268,000	(3,526,000)
Proceeds from sales of other assets	827,000	1,524,000
Net cash paid in acquisition of businesses	0	(10,066,000)
Other, net	1,668,000	622,000
Net cash provided by (used in) investing activities	274,113,000	(1,087,213,000)
Financing activities
Net (decrease) increase in noninterest-bearing deposits	(679,803,000)	23,273,000
Net increase (decrease) in interest-bearing deposits	1,288,198,000	(165,068,000)
Net (decrease) increase in short-term borrowings	(454,927,000)	69,215,000
Repayment of long-term debt	0	(32,417,000)
Cash paid for dividends	(25,134,000)	(24,993,000)
Net cash provided by (used in) financing activities	128,334,000	(129,990,000)
Net increase (decrease) in cash and cash equivalents	370,907,000	(867,497,000)
Cash and cash equivalents at beginning of period	575,992,000	1,877,965,000
Cash and cash equivalents at end of period	946,899,000	1,010,468,000
Supplemental disclosures
Cash paid for interest	91,861,000	19,959,000
Cash paid for income taxes	23,071,000	6,367,000
Noncash transactions:
Transfers of loans to other real estate owned	4,119,000	1,284,000
Recognition of operating right-of-use assets	611,000	1,595,000
Recognition of operating lease liabilities	$ 611,000	$ 1,595,000

Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2021		55,756,233
Beginning balance at Dec. 31, 2021	$ 2,209,853	$ 296,483	$ (118,027)	$ 1,300,192	$ 741,648	$ (10,443)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	33,547				33,547
Other comprehensive income (loss)	(94,126)					(94,126)
Comprehensive (loss) income	(60,579)
Cash dividends	(12,505)				(12,505)
Issuance of common stock for stock-based compensation awards (in shares)		124,433
Issuance of common stock for stock-based compensation awards	(2,465)		3,977	(6,442)
Stock-based compensation expense	3,338			3,338
Ending balance (in shares) at Mar. 31, 2022		55,880,666
Ending balance at Mar. 31, 2022	2,137,642	$ 296,483	(114,050)	1,297,088	762,690	(104,569)
Beginning balance (in shares) at Dec. 31, 2021		55,756,233
Beginning balance at Dec. 31, 2021	2,209,853	$ 296,483	(118,027)	1,300,192	741,648	(10,443)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	73,225
Other comprehensive income (loss)	(144,955)
Comprehensive (loss) income	(71,730)
Ending balance (in shares) at Jun. 30, 2022		55,932,017
Ending balance at Jun. 30, 2022	2,116,877	$ 296,483	(112,295)	1,298,207	789,880	(155,398)
Beginning balance (in shares) at Mar. 31, 2022		55,880,666
Beginning balance at Mar. 31, 2022	2,137,642	$ 296,483	(114,050)	1,297,088	762,690	(104,569)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	39,678				39,678
Other comprehensive income (loss)	(50,829)					(50,829)
Comprehensive (loss) income	(11,151)
Cash dividends	(12,488)				(12,488)
Issuance of common stock for stock-based compensation awards (in shares)		51,351
Issuance of common stock for stock-based compensation awards	(78)		1,755	(1,833)
Stock-based compensation expense	2,952			2,952
Ending balance (in shares) at Jun. 30, 2022		55,932,017
Ending balance at Jun. 30, 2022	$ 2,116,877	$ 296,483	(112,295)	1,298,207	789,880	(155,398)
Beginning balance (in shares) at Dec. 31, 2022	55,953,104	55,953,104
Beginning balance at Dec. 31, 2022	$ 2,136,016	$ 296,483	(111,577)	1,302,422	857,725	(209,037)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	46,078				46,078
Other comprehensive income (loss)	16,713					16,713
Comprehensive (loss) income	62,791
Cash dividends	(12,561)				(12,561)
Issuance of common stock for stock-based compensation awards (in shares)		120,554
Issuance of common stock for stock-based compensation awards	(2,391)		4,018	(6,409)
Stock-based compensation expense	3,445			3,445
Ending balance (in shares) at Mar. 31, 2023		56,073,658
Ending balance at Mar. 31, 2023	$ 2,187,300	$ 296,483	(107,559)	1,299,458	891,242	(192,324)
Beginning balance (in shares) at Dec. 31, 2022	55,953,104	55,953,104
Beginning balance at Dec. 31, 2022	$ 2,136,016	$ 296,483	(111,577)	1,302,422	857,725	(209,037)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	74,721
Other comprehensive income (loss)	17,576
Comprehensive (loss) income	$ 92,297
Ending balance (in shares) at Jun. 30, 2023	56,132,478	56,132,478
Ending balance at Jun. 30, 2023	$ 2,208,628	$ 296,483	(105,589)	1,301,883	907,312	(191,461)
Beginning balance (in shares) at Mar. 31, 2023		56,073,658
Beginning balance at Mar. 31, 2023	2,187,300	$ 296,483	(107,559)	1,299,458	891,242	(192,324)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	28,643				28,643
Other comprehensive income (loss)	863					863
Comprehensive (loss) income	29,506
Cash dividends	(12,573)				(12,573)
Issuance of common stock for stock-based compensation awards (in shares)		58,820
Issuance of common stock for stock-based compensation awards	1,000		1,970	(970)
Stock-based compensation expense	$ 3,395			3,395
Ending balance (in shares) at Jun. 30, 2023	56,132,478	56,132,478
Ending balance at Jun. 30, 2023	$ 2,208,628	$ 296,483	$ (105,589)	$ 1,301,883	$ 907,312	$ (191,461)

Income Taxes

6 Months Ended

Jun. 30, 2023

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes(In Thousands)

The following table is a summary of the Company’s temporary differences between the tax basis of assets and liabilities and their financial reporting amounts that give rise to deferred income tax assets and liabilities and their approximate tax effects as of the dates presented.


	June 30,		December 31,
	2023		2022
Deferred tax assets
Allowance for credit losses	$	52,475	$	52,551
Loans	2,173		2,518
Deferred compensation	12,449		14,447
Net unrealized losses on securities	63,874		70,999
Impairment of assets	220		316
Net operating loss carryforwards	151		497
Investment in partnerships	1,366		1,164

Lease liabilities under operating leases	14,004		14,641
Other	5,897		3,523
Total deferred tax assets	152,609		160,656


Deferred tax liabilities




Fixed assets	10,340		10,342
Mortgage servicing rights	20,386		19,624
Junior subordinated debt	1,827		1,948
Intangibles	2,539		2,702
Lease right-of-use asset	13,363		14,018
Other	1,173		1,614
Total deferred tax liabilities	49,628		50,248
Net deferred tax assets	$	102,981	$	110,408

For the six months ended June 30, 2023 and 2022, the Company recorded a provision for income taxes totaling $17,956 and $18,792, respectively. The provision for income taxes includes both federal and state income taxes and differs from the statutory rate due to favorable permanent differences.

The Company and its subsidiaries file a consolidated U.S. federal income tax return. The Company is currently open to audit under the statute of limitations by the Internal Revenue Service and state departments of revenue for the years ending December 31, 2020 through December 31, 2022.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Other Comprehensive Income (Loss) - Accumulated Balances for Each Component of Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Accumulated balances for component of other comprehensive income, net of tax
Unrealized losses on securities	$ (198,769)	$ (219,766)
Unrealized gains on derivative instruments	15,363	18,956
Unrecognized losses on defined benefit pension and post-retirement benefit plans obligations	(8,055)	(8,227)
Total accumulated other comprehensive loss	$ (191,461)	$ (209,037)

- Definition

Amount, after tax, of accumulated increase (decrease) in equity from transaction and other event and circumstance from nonowner source.

+ References + Details

Fair Value Measurements - Narrative (Details) - USD ($)	6 Months Ended
Fair Value Measurements - Narrative (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans not covered under loss-share agreements	$ 63,680,000		$ 18,288,000
Valuation adjustment	0	$ 0
Changes in fair value, gain (loss)	1,133,000	$ (9,528,000)
Impaired Loans, not covered
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Specific reserve included in allowance for loan losses	$ 12,143,000		$ 3,556,000

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References + Details

Other Comprehensive Income (Loss) - Changes in the Components of Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total other comprehensive income (loss), pre-tax	$ 1,129		$ (68,183)		$ 23,431	$ (194,440)
Total other comprehensive income (loss), tax expense (benefit)	266		(17,354)		5,855	(49,485)
Other comprehensive income (loss), net of tax	863	$ 16,713	(50,829)	$ (94,126)	17,576	(144,955)
Securities available for sale:
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), before reclassifications, pre-tax	(21,283)		(76,405)		(569)	(211,161)
Other comprehensive income (loss) before reclassifications, tax expense (benefit)	(5,353)		(19,447)		(170)	(53,741)
Other comprehensive income (loss), before reclassifications, net of tax	(15,930)		(56,958)		(399)	(157,420)
Reclassification from AOCI, pre-tax	22,438		(220)		22,438
Reclassification from AOCI, tax expense (benefit)	5,622		(56)		5,622
Reclassification from AOCI, net of tax	16,816		(164)		16,816
Total other comprehensive income (loss), pre-tax	4,181		(76,625)		28,023	(211,480)
Total other comprehensive income (loss), tax expense (benefit)	1,043		(19,503)		7,026	(53,822)
Other comprehensive income (loss), net of tax	3,138		(57,122)		20,997	(157,658)
Amortization of unrealized holding losses on securities transferred to the held to maturity category
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from AOCI, pre-tax	3,026				6,154	(319)
Reclassification from AOCI, tax expense (benefit)	774				1,574	(81)
Reclassification from AOCI, net of tax	2,252				4,580	(238)
Derivative instruments:
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), before reclassifications, pre-tax	(3,167)		8,401		(4,823)	16,957
Other comprehensive income (loss) before reclassifications, tax expense (benefit)	(806)		2,139		(1,230)	4,316
Other comprehensive income (loss), before reclassifications, net of tax	(2,361)		6,262		(3,593)	12,641
Total other comprehensive income (loss), pre-tax	(3,167)		8,401		(4,823)	16,957
Total other comprehensive income (loss), tax expense (benefit)	(806)		2,139		(1,230)	4,316
Other comprehensive income (loss), net of tax	(2,361)		6,262		(3,593)	12,641
Amortization of net actuarial loss recognized in net periodic pension cost
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from AOCI, pre-tax	115		41		231	83
Reclassification from AOCI, tax expense (benefit)	29		10		59	21
Reclassification from AOCI, net of tax	86		31		172	62
Total defined benefit pension and post-retirement benefit plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total other comprehensive income (loss), pre-tax	115		41		231	83
Total other comprehensive income (loss), tax expense (benefit)	29		10		59	21
Other comprehensive income (loss), net of tax	$ 86		$ 31		$ 172	$ 62

Allowance for Credit Losses - Roll Forward Of the Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Allowance for credit losses:
Beginning balance	$ 195,292	$ 166,468	$ 192,090	$ 164,171
Charge-offs	(6,185)	(3,958)	(12,642)	(7,015)
Recoveries	2,284	1,621	4,009	3,827
Net (charge-offs) recoveries	(3,901)	(2,337)	(8,633)	(3,188)
Provision for (recovery of) credit losses on loans	3,000	2,000	10,960	3,500
Ending balance	194,391	166,131	194,391	166,131
Individually evaluated	13,015	6,896	13,015	6,896
Collectively evaluated	181,376	159,235	181,376	159,235
Loans:
Individually evaluated	75,472	25,947	75,472	25,947
Collectively evaluated	11,855,044	10,577,797	11,855,044	10,577,797
Loans, net of unearned income	11,930,516	10,603,744	11,930,516	10,603,744	$ 11,578,304
Nonaccruing loans with no allowance for credit losses	16,506	7,935	16,506	7,935
Commercial, financial, agricultural
Allowance for credit losses:
Beginning balance	44,678	33,606	44,255	33,922
Charge-offs	(4,939)	(2,239)	(5,468)	(4,341)
Recoveries	1,274	431	1,999	1,567
Net (charge-offs) recoveries	(3,665)	(1,808)	(3,469)	(2,774)
Provision for (recovery of) credit losses on loans	297	(1,605)	550	(2,603)
Ending balance	41,310	30,193	41,310	30,193
Individually evaluated	10,773	4,567	10,773	4,567
Collectively evaluated	30,537	25,626	30,537	25,626
Loans:
Individually evaluated	21,418	9,534	21,418	9,534
Collectively evaluated	1,707,652	1,487,738	1,707,652	1,487,738
Loans, net of unearned income	1,729,070	1,497,272	1,729,070	1,497,272
Nonaccruing loans with no allowance for credit losses	2,021	849	2,021	849
Real estate – construction:
Allowance for credit losses:
Beginning balance	19,959	18,411	19,114	16,419
Charge-offs	(57)	0	(57)	0
Recoveries	0	0	0	0
Net (charge-offs) recoveries	(57)	0	(57)	0
Provision for (recovery of) credit losses on loans	(777)	(1,121)	68	871
Ending balance	19,125	17,290	19,125	17,290
Individually evaluated	0	0	0	0
Collectively evaluated	19,125	17,290	19,125	17,290
Loans:
Individually evaluated	0	0	0	0
Collectively evaluated	1,369,019	1,126,363	1,369,019	1,126,363
Loans, net of unearned income	1,369,019	1,126,363	1,369,019	1,126,363
Nonaccruing loans with no allowance for credit losses	0	0	0	0
Real estate – 1-4 family mortgage:
Allowance for credit losses:
Beginning balance	45,981	36,848	44,727	32,356
Charge-offs	(212)	(161)	(215)	(324)
Recoveries	170	169	194	347
Net (charge-offs) recoveries	(42)	8	(21)	23
Provision for (recovery of) credit losses on loans	495	5,054	1,728	9,531
Ending balance	46,434	41,910	46,434	41,910
Individually evaluated	703	85	703	85
Collectively evaluated	45,731	41,825	45,731	41,825
Loans:
Individually evaluated	13,545	4,127	13,545	4,127
Collectively evaluated	3,335,109	3,025,956	3,335,109	3,025,956
Loans, net of unearned income	3,348,654	3,030,083	3,348,654	3,030,083
Nonaccruing loans with no allowance for credit losses	10,516	3,594	10,516	3,594
Real estate – commercial mortgage:
Allowance for credit losses:
Beginning balance	72,770	65,231	71,798	68,940
Charge-offs	(397)	(708)	(5,512)	(714)
Recoveries	278	192	489	347
Net (charge-offs) recoveries	(119)	(516)	(5,023)	(367)
Provision for (recovery of) credit losses on loans	3,016	(342)	8,892	(4,200)
Ending balance	75,667	64,373	75,667	64,373
Individually evaluated	1,269	1,674	1,269	1,674
Collectively evaluated	74,398	62,699	74,398	62,699
Loans:
Individually evaluated	40,239	11,716	40,239	11,716
Collectively evaluated	5,212,240	4,705,797	5,212,240	4,705,797
Loans, net of unearned income	5,252,479	4,717,513	5,252,479	4,717,513
Nonaccruing loans with no allowance for credit losses	3,969	3,492	3,969	3,492
Lease financing
Allowance for credit losses:
Beginning balance	2,437	1,582	2,463	1,486
Charge-offs	0	0	0	(7)
Recoveries	6	11	11	23
Net (charge-offs) recoveries	6	11	11	16
Provision for (recovery of) credit losses on loans	37	209	6	300
Ending balance	2,480	1,802	2,480	1,802
Individually evaluated	0	0	0	0
Collectively evaluated	2,480	1,802	2,480	1,802
Loans:
Individually evaluated	0	0	0	0
Collectively evaluated	122,370	101,350	122,370	101,350
Loans, net of unearned income	122,370	101,350	122,370	101,350
Nonaccruing loans with no allowance for credit losses	0	0	0	0
Installment Loans to Individuals
Allowance for credit losses:
Beginning balance	9,467	10,790	9,733	11,048
Charge-offs	(580)	(850)	(1,390)	(1,629)
Recoveries	556	818	1,316	1,543
Net (charge-offs) recoveries	(24)	(32)	(74)	(86)
Provision for (recovery of) credit losses on loans	(68)	(195)	(284)	(399)
Ending balance	9,375	10,563	9,375	10,563
Individually evaluated	270	570	270	570
Collectively evaluated	9,105	9,993	9,105	9,993
Loans:
Individually evaluated	270	570	270	570
Collectively evaluated	108,654	130,593	108,654	130,593
Loans, net of unearned income	108,924	131,163	108,924	131,163
Nonaccruing loans with no allowance for credit losses	$ 0	$ 0	0	0
Cumulative Effect, Period Of Adoption, Adjustment
Allowance for credit losses:
Beginning balance			(26)	1,648
Cumulative Effect, Period Of Adoption, Adjustment \| Commercial, financial, agricultural
Allowance for credit losses:
Beginning balance			(26)	1,648
Cumulative Effect, Period Of Adoption, Adjustment \| Real estate – construction:
Allowance for credit losses:
Beginning balance			0	0
Cumulative Effect, Period Of Adoption, Adjustment \| Real estate – 1-4 family mortgage:
Allowance for credit losses:
Beginning balance			0	0
Cumulative Effect, Period Of Adoption, Adjustment \| Real estate – commercial mortgage:
Allowance for credit losses:
Beginning balance			0	0
Cumulative Effect, Period Of Adoption, Adjustment \| Lease financing
Allowance for credit losses:
Beginning balance			0	0
Cumulative Effect, Period Of Adoption, Adjustment \| Installment Loans to Individuals
Allowance for credit losses:
Beginning balance			$ 0	$ 0

Derivative Instruments - Offsetting Derivatives (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Offsetting Derivative Assets
Gross amounts recognized	$ 36,832	$ 36,493
Gross amounts offset in the Consolidated Balance Sheets	0	0
Net amounts presented in the Consolidated Balance Sheets	36,832	36,493
Financial instruments	23,842	22,056
Financial collateral pledged	0	0
Net amounts	12,990	14,437
Offsetting Derivative Liabilities
Gross amounts recognized	23,894	22,056
Gross amounts offset in the Consolidated Balance Sheets	0	0
Net amounts presented in the Consolidated Balance Sheets	23,894	22,056
Financial instruments	23,842	22,056
Financial collateral pledged	0	0
Net amounts	$ 52	$ 0

Other Real Estate Owned - Components of OREO in the Consolidated Statements of Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Real Estate Properties [Line Items]
Repairs and maintenance	$ 28	$ 17	$ 44	$ 20
Property taxes and insurance	11	27	122	62
Impairments	8	37	8	51
Net losses (gains) on OREO sales	6	(266)	(89)	(557)
Rental income	(2)	(2)	(4)	(4)
Total	51	$ (187)	81	$ (428)
Residential
Real Estate Properties [Line Items]
Amortized cost of loans in foreclosure	$ 2,735		$ 2,735		$ 375

Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Financial information for the company's operating segments

The following tables provide financial information for the Company’s operating segments as of and for the periods presented:


	Community Banks		Insurance		Wealth Management		Other		Consolidated
Three months ended June 30, 2023
Net interest income (loss)	$	136,370	$	428	$	28	$	(6,610)	$	130,216
Provision for credit losses	3,000		—		—		—		3,000
Noninterest income (loss)	8,931		2,859		5,866		(430)		17,226
Noninterest expense	102,044		2,070		4,645		406		109,165
Income (loss) before income taxes	40,257		1,217		1,249		(7,446)		35,277
Income tax expense (benefit)	8,258		316		(18)		(1,922)		6,634
Net income (loss)	$	31,999	$	901	$	1,267	$	(5,524)	$	28,643

Total assets	$	17,181,988	$	37,867	$	4,757	$	(270)	$	17,224,342
Goodwill	$	988,898	$	2,767	—		—		$	991,665

Three months ended June 30, 2022
Net interest income (loss)	$	117,580	$	95	$	529	$	(4,689)	$	113,515
Provision for credit losses	2,000		—		—		—		2,000
Noninterest income (loss)	28,729		2,611		6,315		(441)		37,214
Noninterest expense	91,249		2,005		4,591		349		98,194
Income (loss) before income taxes	53,060		701		2,253		(5,479)		50,535
Income tax expense (benefit)	12,093		185		—		(1,421)		10,857
Net income (loss)	$	40,967	$	516	$	2,253	$	(4,058)	$	39,678

Total assets	$	16,520,685	$	34,264	$	65,709	$	(2,557)	$	16,618,101
Goodwill	$	943,524	$	2,767	—		—		$	946,291


	Community Banks		Insurance		Wealth Management		Other		Consolidated
Six months ended June 30, 2023
Net interest income (loss)	$	278,153	$	714	$	52	$	(12,928)	$	265,991
Provision for credit losses	10,960		—		—		—		10,960
Noninterest income (loss)	37,652		6,221		11,450		(804)		54,519
Noninterest expense	202,663		4,109		9,335		766		216,873
Income (loss) before income taxes	102,182		2,826		2,167		(14,498)		92,677
Income tax expense (benefit)	20,980		732		(14)		(3,742)		17,956
Net income (loss)	$	81,202	$	2,094	$	2,181	$	(10,756)	$	74,721

Total assets	$	17,181,988	$	37,867	$	4,757	$	(270)	$	17,224,342
Goodwill	$	988,898	$	2,767	$	—	$	—	$	991,665

Six months ended June 30, 2022
Net interest income (loss)	$	221,512	$	188	$	1,019	$	(9,575)	$	213,144
Provision for credit losses	3,500		—		—		—		3,500
Noninterest income (loss)	57,035		5,708		12,820		(891)		74,672
Noninterest expense	178,120		4,121		9,346		712		192,299
Income (loss) before income taxes	96,927		1,775		4,493		(11,178)		92,017
Income tax expense (benefit)	21,224		466		—		(2,898)		18,792
Net income (loss)	$	75,703	$	1,309	$	4,493	$	(8,280)	$	73,225

Total assets	$	16,520,685	$	34,264	$	65,709	$	(2,557)	$	16,618,101
Goodwill	$	943,524	$	2,767	$	—	$	—	$	946,291

Fair Value Measurements - Summarizes Differences Between Fair Value and Principal Balance for Mortgage Loans Held for Sale Measure at Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Aggregate Fair Value
Summarizes differences between fair value and principal balance for mortgage loans held for sale measure at fair value
Mortgage loans held for sale measured at fair value	$ 249,615	$ 110,105
Aggregate Unpaid Principal Balance
Summarizes differences between fair value and principal balance for mortgage loans held for sale measure at fair value
Mortgage loans held for sale measured at fair value	246,520	108,143
Difference
Summarizes differences between fair value and principal balance for mortgage loans held for sale measure at fair value
Mortgage loans held for sale measured at fair value	$ 3,095	$ 1,962

Segment Reporting

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Segment Reporting

(In Thousands)

The operations of the Company’s reportable segments are described as follows:

•The Community Banks segment delivers a complete range of banking and financial services to individuals and small to medium-sized businesses including checking and savings accounts, business and personal loans, asset-based lending, factoring, equipment leasing and treasury management services, as well as safe deposit and night depository facilities.

•The Insurance segment includes a full service insurance agency offering all major lines of commercial and personal insurance through major carriers.

•The Wealth Management segment, through the Trust division, offers a broad range of fiduciary services including the administration (as trustee or in other fiduciary or representative capacities) of benefit plans, management of trust accounts, inclusive of personal and corporate benefit accounts, and custodial accounts, as well as accounting and money management for trust accounts. In addition, the Wealth Management segment, through the Financial Services division, provides specialized products and services to customers, which include fixed and variable annuities, mutual funds and other investment services through a third party broker-dealer.

To give the Company’s divisional management a more precise indication of the income and expenses they can control, the results of operations for the Community Banks, the Insurance and the Wealth Management segments reflect the direct revenues and expenses of each respective segment. Indirect revenues and expenses, including but not limited to income from the Company’s investment portfolio as well as certain costs associated with data processing and back office functions, primarily support the operations of the community banks and, therefore, are included in the results of the Community Banks segment. Included in “Other” are the operations of the holding company and other eliminations which are necessary for purposes of reconciling to the consolidated amounts.

The following tables provide financial information for the Company’s operating segments as of and for the periods presented:


	Community Banks		Insurance		Wealth Management		Other		Consolidated
Three months ended June 30, 2023
Net interest income (loss)	$	136,370	$	428	$	28	$	(6,610)	$	130,216
Provision for credit losses	3,000		—		—		—		3,000
Noninterest income (loss)	8,931		2,859		5,866		(430)		17,226
Noninterest expense	102,044		2,070		4,645		406		109,165
Income (loss) before income taxes	40,257		1,217		1,249		(7,446)		35,277
Income tax expense (benefit)	8,258		316		(18)		(1,922)		6,634
Net income (loss)	$	31,999	$	901	$	1,267	$	(5,524)	$	28,643

Total assets	$	17,181,988	$	37,867	$	4,757	$	(270)	$	17,224,342
Goodwill	$	988,898	$	2,767	—		—		$	991,665

Three months ended June 30, 2022
Net interest income (loss)	$	117,580	$	95	$	529	$	(4,689)	$	113,515
Provision for credit losses	2,000		—		—		—		2,000
Noninterest income (loss)	28,729		2,611		6,315		(441)		37,214
Noninterest expense	91,249		2,005		4,591		349		98,194
Income (loss) before income taxes	53,060		701		2,253		(5,479)		50,535
Income tax expense (benefit)	12,093		185		—		(1,421)		10,857
Net income (loss)	$	40,967	$	516	$	2,253	$	(4,058)	$	39,678

Total assets	$	16,520,685	$	34,264	$	65,709	$	(2,557)	$	16,618,101
Goodwill	$	943,524	$	2,767	—		—		$	946,291


	Community Banks		Insurance		Wealth Management		Other		Consolidated
Six months ended June 30, 2023
Net interest income (loss)	$	278,153	$	714	$	52	$	(12,928)	$	265,991
Provision for credit losses	10,960		—		—		—		10,960
Noninterest income (loss)	37,652		6,221		11,450		(804)		54,519
Noninterest expense	202,663		4,109		9,335		766		216,873
Income (loss) before income taxes	102,182		2,826		2,167		(14,498)		92,677
Income tax expense (benefit)	20,980		732		(14)		(3,742)		17,956
Net income (loss)	$	81,202	$	2,094	$	2,181	$	(10,756)	$	74,721

Total assets	$	17,181,988	$	37,867	$	4,757	$	(270)	$	17,224,342
Goodwill	$	988,898	$	2,767	$	—	$	—	$	991,665

Six months ended June 30, 2022
Net interest income (loss)	$	221,512	$	188	$	1,019	$	(9,575)	$	213,144
Provision for credit losses	3,500		—		—		—		3,500
Noninterest income (loss)	57,035		5,708		12,820		(891)		74,672
Noninterest expense	178,120		4,121		9,346		712		192,299
Income (loss) before income taxes	96,927		1,775		4,493		(11,178)		92,017
Income tax expense (benefit)	21,224		466		—		(2,898)		18,792
Net income (loss)	$	75,703	$	1,309	$	4,493	$	(8,280)	$	73,225

Total assets	$	16,520,685	$	34,264	$	65,709	$	(2,557)	$	16,618,101
Goodwill	$	943,524	$	2,767	$	—	$	—	$	946,291

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Net Income Per Common Share - Antidilutive Securities (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-Based Payment Arrangement, Option
Schedule of antidilutive securities excluded from computation of earnings per share
Number of shares (shares)	179,226	213,953	182,226	214,203

Allowance for Credit Losses

6 Months Ended

Jun. 30, 2023

Receivables [Abstract]

Allowance for Credit Losses

(In Thousands)

Allowance for Credit Losses on Loans

The allowance for credit losses is an estimate of expected losses inherent within the Company’s loans held for investment portfolio and is maintained at a level believed adequate by management to absorb credit losses inherent in the entire loan portfolio. Management evaluates the adequacy of the allowance for credit losses on a quarterly basis. Expected credit loss inherent in non-cancellable off-balance-sheet credit exposures is accounted for as a separate liability in the Consolidated Balance Sheets. The allowance for credit losses on loans held for investment, as reported in the Company’s Consolidated Balance Sheets, is adjusted by a provision for credit losses, which is reported in earnings, and reduced by net charge-offs. Loan losses are charged against the allowance for credit losses when management believes the uncollectability of a loan balance is confirmed and such losses are reasonably quantified. Subsequent recoveries, if any, are credited to the allowance. For more information about the Company’s policies and procedures for determining the amount of the allowance for credit losses, please refer to the discussion in Note 1, “Significant Accounting Policies,” in the Notes to the Consolidated Financial Statements in Item 8, Financial Statements and Supplementary Data, in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.

The Company has made an accounting policy election to exclude accrued interest from the measurement of the allowance for credit losses in the Company’s loan portfolio. As of June 30, 2023 and December 31, 2022, the Company had accrued interest receivable for loans of $51,410 and $49,850, respectively, which is recorded in the “Other assets” line item on the Consolidated Balance Sheets. Although the Company made the election to exclude accrued interest from the measurement of the allowance for credit losses, the Company did have an allowance for credit losses on interest deferred as part of the loan deferral program established in 2020 in response to the COVID-19 pandemic of $1,231 and $1,248 as of June 30, 2023 and December 31, 2022, respectively.


	Commercial		Real Estate - Construction		Real Estate - 1-4 Family Mortgage		Real Estate - Commercial Mortgage		Lease Financing		Installment Loans to Individuals		Total
Three Months Ended June 30, 2023
Allowance for credit losses:
Beginning balance	$	44,678	$	19,959	$	45,981	$	72,770	$	2,437	$	9,467	$	195,292

Charge-offs	(4,939)		(57)		(212)		(397)		—		(580)		(6,185)
Recoveries	1,274		—		170		278		6		556		2,284
Net (charge-offs) recoveries	(3,665)		(57)		(42)		(119)		6		(24)		(3,901)
Provision for (recovery of) credit losses on loans	297		(777)		495		3,016		37		(68)		3,000
Ending balance	$	41,310	$	19,125	$	46,434	$	75,667	$	2,480	$	9,375	$	194,391
Six Months Ended June 30, 2023
Allowance for credit losses:
Beginning balance	$	44,255	$	19,114	$	44,727	$	71,798	$	2,463	$	9,733	$	192,090
Initial impact of purchased credit deteriorated loans acquired during the period	(26)		—		—		—		—		—		(26)
Charge-offs	(5,468)		(57)		(215)		(5,512)		—		(1,390)		(12,642)
Recoveries	1,999		—		194		489		11		1,316		4,009
Net (charge-offs) recoveries	(3,469)		(57)		(21)		(5,023)		11		(74)		(8,633)
Provision for (recovery of) credit losses on loans	550		68		1,728		8,892		6		(284)		10,960
Ending balance	$	41,310	$	19,125	$	46,434	$	75,667	$	2,480	$	9,375	$	194,391
Period-End Amount Allocated to:
Individually evaluated	$	10,773	$	—	$	703	$	1,269	$	—	$	270	$	13,015
Collectively evaluated	30,537		19,125		45,731		74,398		2,480		9,105		181,376
Ending balance	$	41,310	$	19,125	$	46,434	$	75,667	$	2,480	$	9,375	$	194,391
Loans:
Individually evaluated	$	21,418	$	—	$	13,545	$	40,239	$	—	$	270	$	75,472
Collectively evaluated	1,707,652		1,369,019		3,335,109		5,212,240		122,370		108,654		11,855,044
Ending balance	$	1,729,070	$	1,369,019	$	3,348,654	$	5,252,479	$	122,370	$	108,924	$	11,930,516

Nonaccruing loans with no allowance for credit losses	$	2,021	$	—	$	10,516	$	3,969	$	—	$	—	$	16,506


	Commercial		Real Estate - Construction		Real Estate - 1-4 Family Mortgage		Real Estate - Commercial Mortgage		Lease Financing		Installment Loans to Individuals		Total

Three Months Ended June 30, 2022
Allowance for credit losses:
Beginning balance	$	33,606	$	18,411	$	36,848	$	65,231	$	1,582	$	10,790	$	166,468

Charge-offs	(2,239)		—		(161)		(708)		—		(850)		(3,958)
Recoveries	431		—		169		192		11		818		1,621
Net (charge-offs) recoveries	(1,808)		—		8		(516)		11		(32)		(2,337)
Provision for (recovery of) credit losses on loans	(1,605)		(1,121)		5,054		(342)		209		(195)		2,000
Ending balance	$	30,193	$	17,290	$	41,910	$	64,373	$	1,802	$	10,563	$	166,131
Six Months Ended June 30, 2022
Allowance for credit losses:
Beginning balance	$	33,922	$	16,419	$	32,356	$	68,940	$	1,486	$	11,048	$	164,171
Initial impact of purchased credit deteriorated loans acquired during the period	1,648		—		—		—		—		—		1,648
Charge-offs	(4,341)		—		(324)		(714)		(7)		(1,629)		(7,015)
Recoveries	1,567		—		347		347		23		1,543		3,827
Net (charge-offs) recoveries	(2,774)		—		23		(367)		16		(86)		(3,188)
Provision for (recovery of) credit losses on loans	(2,603)		871		9,531		(4,200)		300		(399)		3,500
Ending balance	$	30,193	$	17,290	$	41,910	$	64,373	$	1,802	$	10,563	$	166,131
Period-End Amount Allocated to:
Individually evaluated	$	4,567	$	—	$	85	$	1,674	$	—	$	570	$	6,896
Collectively evaluated	25,626		17,290		41,825		62,699		1,802		9,993		159,235
Ending balance	$	30,193	$	17,290	$	41,910	$	64,373	$	1,802	$	10,563	$	166,131
Loans:
Individually evaluated	$	9,534	$	—	$	4,127	$	11,716	$	—	$	570	$	25,947
Collectively evaluated	1,487,738		1,126,363		3,025,956		4,705,797		101,350		130,593		10,577,797
Ending balance	$	1,497,272	$	1,126,363	$	3,030,083	$	4,717,513	$	101,350	$	131,163	$	10,603,744

Nonaccruing loans with no allowance for credit losses	$	849	$	—	$	3,594	$	3,492	$	—	$	—	$	7,935

The Company recorded a provision for credit losses of $3,000 during the second quarter of 2023, as compared to a provision for credit losses $2,000 recorded in the second quarter of 2022. The Company’s allowance for credit losses model considers economic projections, primarily the national unemployment rate and GDP, over a reasonable and supportable period of two years. The increase in provision for credit losses on loans in the second quarter as compared to the provision in the second quarter of the prior year was driven by loan growth.

Allowance for Credit Losses on Unfunded Loan Commitments

The Company maintains a separate allowance for credit losses on unfunded loan commitments, which is included in the “Other liabilities” line item on the Consolidated Balance Sheets. For more information about the Company’s policies and procedures for determining the amount of the allowance for credit losses on unfunded loan commitments, please refer to the discussion in

Note 1, “Significant Accounting Policies,” in the Notes to the Consolidated Financial Statements in Item 8, Financial Statements and Supplementary Data, in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.

The following table provides a roll-forward of the allowance for credit losses on unfunded loan commitments for the periods presented.


Three Months Ended June 30,	2023		2022
Allowance for credit losses on unfunded loan commitments:
Beginning balance	$	18,618	$	19,485
(Recovery of) provision for credit losses on unfunded loan commitments (included in other noninterest expense)	(1,000)		450
Ending balance	$	17,618	$	19,935

Six Months Ended June 30,	2023		2022
Allowance for credit losses on unfunded loan commitments:
Beginning balance	$	20,118	$	20,035
Recovery of credit losses on unfunded loan commitments (included in other noninterest expense)	(2,500)		(100)
Ending balance	$	17,618	$	19,935

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Interest income
Loans	$ 176,188	$ 108,995	$ 339,712	$ 207,687
Securities
Taxable	12,300	10,567	25,553	19,501
Tax-exempt	1,700	1,904	3,538	3,805
Other	6,978	1,954	12,408	2,618
Total interest income	197,166	123,420	381,211	233,611
Interest expense
Deposits	51,391	5,018	84,257	10,655
Borrowings	15,559	4,887	30,963	9,812
Total interest expense	66,950	9,905	115,220	20,467
Net interest income	130,216	113,515	265,991	213,144
Provision for credit losses on loans	3,000	2,000	10,960	3,500
Net interest income after provision for credit losses	127,216	111,515	255,031	209,644
Noninterest income
Service charges on deposit accounts	9,733	9,734	18,853	19,296
Fees and commissions	4,987	4,668	9,663	8,650
Insurance commissions	2,809	2,591	5,255	5,145
Wealth management revenue	5,338	5,711	10,478	11,635
Mortgage banking income	9,771	8,316	18,288	17,949
Net loss on sales of securities	(22,438)	0	(22,438)	0
BOLI income	2,402	2,331	5,405	4,484
Other	4,624	3,863	9,015	7,513
Total noninterest income	17,226	37,214	54,519	74,672
Noninterest expense
Salaries and employee benefits	70,637	65,580	140,469	127,819
Data processing	3,684	3,590	7,317	7,853
Net occupancy and equipment	11,865	11,155	23,270	22,431
Other real estate owned	51	(187)	81	(428)
Professional fees	4,012	2,778	7,479	5,929
Advertising and public relations	3,482	3,406	8,168	7,465
Intangible amortization	1,369	1,310	2,795	2,676
Communications	2,226	1,904	4,206	3,931
Merger and conversion related expenses	0	0	0	687
Restructuring charges	0	1,187	0	732
Other	11,839	7,471	23,088	13,204
Total noninterest expense	109,165	98,194	216,873	192,299
Income (loss) before income taxes	35,277	50,535	92,677	92,017
Income taxes	6,634	10,857	17,956	18,792
Net income (loss)	$ 28,643	$ 39,678	$ 74,721	$ 73,225
Basic earnings per share (usd per share)	$ 0.51	$ 0.71	$ 1.33	$ 1.31
Diluted earnings per share (usd per share)	0.51	0.71	1.33	1.30
Cash dividends per common share (usd per share)	$ 0.22	$ 0.22	$ 0.44	$ 0.44

Securities - Amortized Cost and Fair Value of Securities Available for Sale (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Amortized cost and fair value of securities available for sale
Amortized Cost	$ 1,130,119	$ 1,735,000
Gross Unrealized Gains	360	241
Gross Unrealized Losses	(179,549)	(201,299)
Fair Value	950,930	1,533,942
Obligations of other U.S. Government agencies and corporations
Amortized cost and fair value of securities available for sale
Amortized Cost		170,000
Gross Unrealized Gains		0
Gross Unrealized Losses		(5,340)
Fair Value		164,660
Obligations of states and political subdivisions
Amortized cost and fair value of securities available for sale
Amortized Cost	41,474	154,066
Gross Unrealized Gains	16	204
Gross Unrealized Losses	(3,439)	(9,368)
Fair Value	38,051	144,902
Residential mortgage backed securities: \| Government agency mortgage backed securities
Amortized cost and fair value of securities available for sale
Amortized Cost	328,760	508,415
Gross Unrealized Gains	28	37
Gross Unrealized Losses	(42,751)	(52,036)
Fair Value	286,037	456,416
Residential mortgage backed securities: \| Government agency collateralized mortgage obligations
Amortized cost and fair value of securities available for sale
Amortized Cost	516,474	605,033
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(101,385)	(103,864)
Fair Value	415,089	501,169
Commercial mortgage backed securities: \| Government agency mortgage backed securities
Amortized cost and fair value of securities available for sale
Amortized Cost	6,042	11,166
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(797)	(1,053)
Fair Value	5,245	10,113
Commercial mortgage backed securities: \| Government agency collateralized mortgage obligations
Amortized cost and fair value of securities available for sale
Amortized Cost	164,320	211,435
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(25,508)	(25,589)
Fair Value	138,812	185,846
Other debt securities
Amortized cost and fair value of securities available for sale
Amortized Cost	73,049	74,885
Gross Unrealized Gains	316	0
Gross Unrealized Losses	(5,669)	(4,049)
Fair Value	$ 67,696	$ 70,836

Fair Value Measurements - Assets Measured at Fair Value on a Nonrecurring Basis (Details) - Fair Value, measurements, nonrecurring - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Impaired loans measured at fair value on a nonrecurring basis
Individually evaluated loans, net of allowance for credit losses	$ 51,537	$ 14,732
OREO	37	1,763
Total financial assets	51,574	16,495
Level 1
Impaired loans measured at fair value on a nonrecurring basis
Individually evaluated loans, net of allowance for credit losses	0	0
OREO	0	0
Total financial assets	0	0
Level 2
Impaired loans measured at fair value on a nonrecurring basis
Individually evaluated loans, net of allowance for credit losses	0	0
OREO	0	0
Total financial assets	0	0
Level 3
Impaired loans measured at fair value on a nonrecurring basis
Individually evaluated loans, net of allowance for credit losses	51,537	14,732
OREO	37	1,763
Total financial assets	$ 51,574	$ 16,495

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 28,643	$ 46,078	$ 39,678	$ 33,547	$ 74,721	$ 73,225

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-8

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 13: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-10

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483581/946-220-45-7

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 32: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-7

Reference 35: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482740/230-10-45-28

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 38: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Loans - Summary of Non-Purchased Loans and Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Summary of loans
Gross loans	$ 11,938,144	$ 11,585,458
Unearned income	(7,628)	(7,154)
Loans, net of unearned income	11,930,516	11,578,304	$ 10,603,744
Commercial, financial, agricultural
Summary of loans
Gross loans	1,729,070	1,673,883
Loans, net of unearned income	1,729,070		1,497,272
Lease financing
Summary of loans
Gross loans	129,998	122,167
Loans, net of unearned income	122,370		101,350
Real estate – construction:
Summary of loans
Gross loans	1,369,019	1,330,337
Loans, net of unearned income	1,369,019		1,126,363
Real estate – construction: \| Residential
Summary of loans
Gross loans	308,401	355,500
Real estate – construction: \| Commercial
Summary of loans
Gross loans	1,060,618	974,837
Real estate – 1-4 family mortgage:
Summary of loans
Gross loans	3,348,654	3,216,263
Loans, net of unearned income	3,348,654		3,030,083
Real estate – 1-4 family mortgage: \| Primary
Summary of loans
Gross loans	2,372,739	2,222,856
Real estate – 1-4 family mortgage: \| Home equity
Summary of loans
Gross loans	502,341	501,906
Real estate – 1-4 family mortgage: \| Rental/investment
Summary of loans
Gross loans	335,509	334,382
Real estate – 1-4 family mortgage: \| Land development
Summary of loans
Gross loans	138,065	157,119
Real estate – 1-4 family mortgage: \| Land development
Summary of loans
Gross loans	138,065	157,119
Real estate – commercial mortgage:
Summary of loans
Gross loans	5,252,479	5,118,063
Loans, net of unearned income	5,252,479		4,717,513
Real estate – commercial mortgage: \| Owner-occupied
Summary of loans
Gross loans	1,553,890	1,539,296
Real estate – commercial mortgage: \| Non-owner occupied
Summary of loans
Gross loans	3,585,160	3,452,910
Real estate – commercial mortgage: \| Land development
Summary of loans
Gross loans	113,429	125,857
Installment loans to individuals
Summary of loans
Gross loans	108,924	$ 124,745
Loans, net of unearned income	$ 108,924		$ 131,163

Net Income Per Common Share (Tables)

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Basic and diluted net income per common share

Basic and diluted net income per common share calculations are as follows for the periods presented:


	Three Months Ended
	June 30,
	2023		2022
Basic
Net income applicable to common stock	$	28,643	$	39,678
Average common shares outstanding	56,107,881		55,906,755
Net income per common share - basic	$	0.51	$	0.71
Diluted
Net income applicable to common stock	$	28,643	$	39,678
Average common shares outstanding	56,107,881		55,906,755
Effect of dilutive stock-based compensation	287,772		276,090
Average common shares outstanding - diluted	56,395,653		56,182,845
Net income per common share - diluted	$	0.51	$	0.71


	Six Months Ended
	June 30,
	2023		2022
Basic
Net income applicable to common stock	$	74,721	$	73,225
Average common shares outstanding	56,058,585		55,858,243
Net income per common share - basic	$	1.33	$	1.31
Diluted
Net income applicable to common stock	$	74,721	$	73,225
Average common shares outstanding	56,058,585		55,858,243
Effect of dilutive stock-based compensation	271,710		272,519
Average common shares outstanding - diluted	56,330,295		56,130,762
Net income per common share - diluted	$	1.33	$	1.30

Schedule of antidilutive securities

Stock-based compensation awards that could potentially dilute basic net income per common share in the future that were not included in the computation of diluted net income per common share due to their anti-dilutive effect were as follows for the periods presented:


	Three Months Ended
	June 30,
	2023	2022
Number of shares	179,226	213,953


	Six Months Ended
	June 30,
	2023	2022
Number of shares	182,226	214,203

Regulatory Matters (Tables)

6 Months Ended

Jun. 30, 2023

Banking and Thrift, Interest [Abstract]

Guidelines governing the classification of capital tiers

Those guidelines specify capital tiers, which include the following classifications:

Capital Tiers

Tier 1 Capital to
Average Assets
(Leverage)

Common Equity Tier 1 to
Risk - Weighted Assets

Tier 1 Capital to
Risk - Weighted
Assets

Total Capital to
Risk - Weighted
Assets

Well capitalized

5% or above

6.5% or above

8% or above

10% or above

Adequately capitalized

4% or above

4.5% or above

6% or above

8% or above

Undercapitalized

Less than 4%

Less than 4.5%

Less than 6%

Less than 8%

Significantly undercapitalized

Less than 3%

Less than 4%

Less than 6%

Critically undercapitalized

Tangible Equity / Total Assets less than 2%

Capital and risk-based capital and leverage ratios

The following table provides the capital and risk-based capital and leverage ratios for the Company and for the Bank as of the dates presented:


	June 30, 2023				December 31, 2022
	Amount		Ratio		Amount		Ratio
Renasant Corporation
Tier 1 Capital to Average Assets (Leverage)	$	1,524,545	9.22	%	$	1,481,197	9.36	%
Common Equity Tier 1 Capital to Risk-Weighted Assets	1,415,626		10.30	%	1,372,747		10.21	%
Tier 1 Capital to Risk-Weighted Assets	1,524,545		11.09	%	1,481,197		11.01	%
Total Capital to Risk-Weighted Assets	2,028,793		14.76	%	1,968,001		14.63	%
Renasant Bank
Tier 1 Capital to Average Assets (Leverage)	$	1,668,033	10.09	%	$	1,630,389	10.30	%
Common Equity Tier 1 Capital to Risk-Weighted Assets	1,668,033		12.06	%	1,630,389		12.10	%
Tier 1 Capital to Risk-Weighted Assets	1,668,033		12.06	%	1,630,389		12.10	%
Total Capital to Risk-Weighted Assets	1,835,954		13.27	%	1,781,312		13.22	%

Other Real Estate Owned (Tables)

6 Months Ended

Jun. 30, 2023

Real Estate [Abstract]

Other real estate owned (OREO) covered and not covered under a loss-share agreement, net of valuation allowances and direct write-downs

The following table provides details of the Company’s other real estate owned (“OREO”), net of valuation allowances and direct write-downs, as of the dates presented:


	June 30, 2023		December 31, 2022
Residential real estate	$	459	$	699
Commercial real estate	3,481		62
Residential land development	448		246
Commercial land development	732		756

Total	$	5,120	$	1,763

Changes in Company’s OREO

Changes in the Company’s OREO were as follows:


	Total OREO
Balance at January 1, 2023	$	1,763


Transfers of loans	4,119

Impairments	(8)
Dispositions	(738)
Other	(16)
Balance at June 30, 2023	$	5,120

Components of OREO in the consolidated statements of income

Components of the line item “Other real estate owned” in the Consolidated Statements of Income were as follows for the periods presented:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2023		2022		2023		2022
Repairs and maintenance	$	28	$	17	$	44	$	20
Property taxes and insurance	11		27		122		62
Impairments	8		37		8		51
Net losses (gains) on OREO sales	6		(266)		(89)		(557)
Rental income	(2)		(2)		(4)		(4)
Total	$	51	$	(187)	$	81	$	(428)

Goodwill and Other Intangible Assets - Estimated Amortization Expense of Finite-Lived Intangible Assets (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Finite-Lived Intangible Assets [Line Items]
2023	$ 5,380
2024	4,690
2025	4,150
2026	3,759
2027	3,402
Core Deposit Intangibles
Finite-Lived Intangible Assets [Line Items]
2023	4,043
2024	3,498
2025	3,102
2026	2,899
2027	2,774
Customer relationship intangible
Finite-Lived Intangible Assets [Line Items]
2023	1,337
2024	1,192
2025	1,048
2026	860
2027	$ 628

Securities (Tables)

6 Months Ended

Jun. 30, 2023

Investments, Debt and Equity Securities [Abstract]

Amortized cost and fair value of securities available for sale

The amortized cost and fair value of securities available for sale were as follows as of the dates presented in the tables below.

There was no allowance for credit losses allocated to any of the Company’s available for sale securities as of June 30, 2023 or December 31, 2022.


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
June 30, 2023


Obligations of states and political subdivisions	$	41,474	$	16	$	(3,439)	$	38,051
Residential mortgage backed securities:
Government agency mortgage backed securities	328,760		28		(42,751)		286,037
Government agency collateralized mortgage obligations	516,474		—		(101,385)		415,089
Commercial mortgage backed securities:
Government agency mortgage backed securities	6,042		—		(797)		5,245
Government agency collateralized mortgage obligations	164,320		—		(25,508)		138,812

Other debt securities	73,049		316		(5,669)		67,696

	$	1,130,119	$	360	$	(179,549)	$	950,930


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2022

Obligations of other U.S. Government agencies and corporations	$	170,000	$	—	$	(5,340)	$	164,660
Obligations of states and political subdivisions	154,066		204		(9,368)		144,902
Residential mortgage backed securities:
Government agency mortgage backed securities	508,415		37		(52,036)		456,416
Government agency collateralized mortgage obligations	605,033		—		(103,864)		501,169
Commercial mortgage backed securities:
Government agency mortgage backed securities	11,166		—		(1,053)		10,113
Government agency collateralized mortgage obligations	211,435		—		(25,589)		185,846

Other debt securities	74,885		—		(4,049)		70,836

	$	1,735,000	$	241	$	(201,299)	$	1,533,942

The amortized cost and fair value of securities held to maturity were as follows as of the dates presented:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
June 30, 2023
Obligations of states and political subdivisions	$	289,949	$	23	$	(42,782)	$	247,190
Residential mortgage backed securities
Government agency mortgage backed securities	455,199		—		(25,797)		429,402
Government agency collateralized mortgage obligations	405,793		—		(35,372)		370,421
Commercial mortgage backed securities:
Government agency mortgage backed securities	16,995		—		(3,231)		13,764
Government agency collateralized mortgage obligations	44,913		—		(7,318)		37,595
Other debt securities	60,227		—		(5,058)		55,169
	$	1,273,076	$	23	$	(119,558)	$	1,153,541
Allowance for credit losses - held to maturity securities	(32)
Held to maturity securities, net of allowance for credit losses	$	1,273,044


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2022
Obligations of states and political subdivisions	$	291,886	$	17	$	(48,325)	$	243,578
Residential mortgage backed securities
Government agency mortgage backed securities	483,560		—		(24,432)		459,128
Government agency collateralized mortgage obligations	423,315		—		(30,706)		392,609
Commercial mortgage backed securities:
Government agency mortgage backed securities	17,006		—		(3,261)		13,745
Government agency collateralized mortgage obligations	45,430		—		(6,559)		38,871
Other debt securities	62,875		—		(4,266)		58,609
	$	1,324,072	$	17	$	(117,549)	$	1,206,540
Allowance for credit losses - held to maturity securities	(32)
Held to maturity securities, net of allowance for credit losses	$	1,324,040

Amortized cost and fair value of securities by contractual maturity


	Held to Maturity				Available for Sale
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due within one year	$	—	$	—	$	8,630	$	8,599
Due after one year through five years	3,294		3,115		37,323		37,428
Due after five years through ten years	70,241		61,158		51,728		44,978
Due after ten years	216,413		182,917		16,769		14,671
Residential mortgage backed securities:
Government agency mortgage backed securities	455,199		429,402		328,760		286,037
Government agency collateralized mortgage obligations	405,793		370,421		516,474		415,089
Commercial mortgage backed securities:
Government agency mortgage backed securities	16,995		13,764		6,042		5,245
Government agency collateralized mortgage obligations	44,913		37,595		164,320		138,812
Other debt securities	60,228		55,169		73		71

	$	1,273,076	$	1,153,541	$	1,130,119	$	950,930

Schedule of realized gain (loss)

Securities sold were as follows for the three and six months ended June 30, 2023. There were no securities sold during the three and six months ended June 30, 2022.



	Carrying Value		Net Proceeds		(Loss)
Three months ended June 30, 2023
Obligations of other U.S. Government agencies and corporations	$	170,000	$	164,915	$	(5,085)
Obligations of states and political subdivisions	104,950		99,439		$	(5,511)
Residential mortgage backed securities:
Government agency mortgage backed securities	137,196		130,602		$	(6,594)
Government agency collateralized mortgage obligations	54,028		51,101		(2,927)
Commercial mortgage backed securities:
Government agency mortgage backed securities	5,048		4,825		(223)
Government agency collateralized mortgage obligations	40,197		38,099		(2,098)



	$	511,419	$	488,981	$	(22,438)
Six months ended June 30, 2023
Obligations of other U.S. Government agencies and corporations	$	170,000	$	164,915	$	(5,085)
Obligations of states and political subdivisions	104,950		99,439		(5,511)
Residential mortgage backed securities:
Government agency mortgage backed securities	137,196		130,602		(6,594)
Government agency collateralized mortgage obligations	54,028		51,101		(2,927)
Commercial mortgage backed securities:
Government agency mortgage backed securities	5,048		4,825		(223)
Government agency collateralized mortgage obligations	40,197		38,099		(2,098)



	$	511,419	$	488,981	$	(22,438)

Gross unrealized losses and fair value of available-for-sale securities

The following tables present the age of gross unrealized losses and fair value by investment category for which an allowance for credit losses has not been recorded as of the dates presented:


	Less than 12 Months					12 Months or More					Total
	#	Fair Value		Unrealized Losses		#	Fair Value		Unrealized Losses		#	Fair Value		Unrealized Losses
Available for Sale:
June 30, 2023

Obligations of states and political subdivisions	10	7,827		(35)		10	23,073		(3,404)		20	30,900		(3,439)
Residential mortgage backed securities:
Government agency mortgage backed securities	4	6,673		(368)		46	275,823		(42,383)		50	282,496		(42,751)
Government agency collateralized mortgage obligations	0	—		—		41	415,090		(101,385)		41	415,090		(101,385)
Commercial mortgage backed securities:
Government agency mortgage backed securities	—	—		—		2	5,245		(797)		2	5,245		(797)
Government agency collateralized mortgage obligations	1	1,131		(38)		26	137,681		(25,470)		27	138,812		(25,508)

Other debt securities	3	5,492		(800)		18	32,171		(4,869)		21	37,663		(5,669)
Total	18	$	21,123	$	(1,241)	143	$	889,083	$	(178,308)	161	$	910,206	$	(179,549)
December 31, 2022
Obligations of other U.S. Government agencies and corporations	5	$	164,660	$	(5,340)	—	$	—	$	—	5	$	164,660	$	(5,340)
Obligations of states and political subdivisions	84	$	96,939	$	(4,869)	11	$	33,038	$	(4,499)	95	$	129,977	$	(9,368)
Residential mortgage backed securities:
Government agency mortgage backed securities	97	214,516		(15,115)		29	237,970		(36,921)		126	452,486		(52,036)
Government agency collateralized mortgage obligations	16	109,753		(8,552)		36	391,416		(95,312)		52	501,169		(103,864)
Commercial mortgage backed securities:
Government agency mortgage backed securities	4	10,114		(1,053)		—	—		—		4	10,114		(1,053)
Government agency collateralized mortgage obligations	16	67,026		(3,828)		21	118,821		(21,760)		37	185,847		(25,588)

Other debt securities	25	63,423		(3,167)		1	7,412		(883)		26	70,835		(4,050)

Total	247	$	726,431	$	(41,924)	98	$	788,657	$	(159,375)	345	$	1,515,088	$	(201,299)

Gross unrealized losses and fair value of held-to-maturity securities


	Less than 12 Months					12 Months or More					Total
	#	Fair Value		Unrealized Losses		#	Fair Value		Unrealized Losses		#	Fair Value		Unrealized Losses
Held to Maturity:
June 30, 2023
Obligations of states and political subdivisions	126	$	242,673	$	(42,767)	1	$	426	$	(15)	127	$	243,099	$	(42,782)
Residential mortgage backed securities:
Government agency mortgage backed securities	2	39,028		(1,387)		68	395,220		(24,410)		70	434,248		(25,797)
Government agency collateralized mortgage obligations	1	26,396		(1,278)		17	344,025		(34,094)		18	370,421		(35,372)
Commercial mortgage backed securities:
Government agency mortgage backed securities	—	—		—		1	13,764		(3,231)		1	13,764		(3,231)
Government agency collateralized mortgage obligations	1	4,290		(298)		8	33,305		(7,020)		9	37,595		(7,318)
Other debt securities	—	—		—		10	50,323		(5,058)		10	50,323		(5,058)
Total	130	$	312,387	$	(45,730)	105	$	837,063	$	(73,828)	235	$	1,149,450	$	(119,558)
December 31, 2022
Obligations of states and political subdivisions	105	$	191,442	$	(35,871)	24	$	49,697	$	(12,454)	129	$	241,139	$	(48,325)
Residential mortgage backed securities:
Government agency mortgage backed securities	8	94,258		(4,186)		62	364,870		(20,246)		70	459,128		(24,432)
Government agency collateralized mortgage obligations	4	98,912		(5,479)		14	293,698		(25,227)		18	392,610		(30,706)
Commercial mortgage backed securities:
Government agency mortgage backed securities	1	13,745		(3,261)		—	—		—		1	13,745		(3,261)
Government agency collateralized mortgage obligations	2	7,651		(626)		7	31,220		(5,933)		9	38,871		(6,559)
Other debt securities	2	42,567		(2,013)		8	16,042		(2,253)		10	58,609		(4,266)
Total	122	$	448,575	$	(51,436)	115	$	755,527	$	(66,113)	237	$	1,204,102	$	(117,549)

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-9

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-3

+ Details

- Definition

Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5A

Reference 15: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 16: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-5B

+ Details

Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative financial instruments

The following table provides a summary of the Company’s derivatives not designated as hedging instruments as of the dates presented:


	Balance Sheet	June 30, 2023				December 31, 2022
	Location	Notional Amount		Fair Value		Notional Amount		Fair Value
Derivative assets:
Interest rate contracts	Other Assets	$	510,641	$	11,483	$	258,646	$	11,354
Interest rate lock commitments	Other Assets	86,727		1,712		92,901		1,231
Forward commitments	Other Assets	256,000		1,787		84,000		484
Totals		$	853,368	$	14,982	$	435,547	$	13,069
Derivative liabilities:
Interest rate contracts	Other Liabilities	$	436,028	$	11,483	$	258,646	$	11,354
Interest rate lock commitments	Other Liabilities	8,422		27		19,488		98
Forward commitments	Other Liabilities	25,000		78		73,000		1,198
Totals		$	469,450	$	11,588	$	351,134	$	12,650

The following table provides a summary of the Company’s derivatives designated as cash flow hedges as of the dates presented:


	Balance Sheet	June 30, 2023				December 31, 2022
	Location	Notional Amount		Fair Value		Notional Amount		Fair Value
Derivative assets:
Interest rate swaps	Other Assets	$	330,000	$	23,764	$	130,000	$	24,514
Interest rate collars	Other Assets	—		—		200,000		464
Total		$	330,000	$	23,764	$	330,000	$	24,978
Derivative liabilities:
Interest rate swaps	Other Liabilities	$	—	$	—	$	—	$	—
Interest rate collars	Other Liabilities	450,000		4,355		250,000		746
Totals		$	450,000	$	4,355	$	250,000	$	746

The following table provides a summary of the Company's derivatives designated as fair value hedges as of the dates presented:


	Balance Sheet	June 30, 2023				December 31, 2022
	Location	Notional Amount		Fair Value		Notional Amount		Fair Value



Derivative liabilities:
Interest rate swaps	Other Liabilities	$	300,000	$	19,208	$	100,000	$	19,789

Gains (losses) on derivative financial instruments included in the Consolidated Statements of Income

Gains and losses included in the Consolidated Statements of Income related to the Company’s derivative financial instruments were as follows as of the dates presented:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Interest rate contracts:
Included in interest income on loans	$	1,804	$	390	$	3,546	$	444

Interest rate lock commitments:
Included in mortgage banking income	(1,686)		3,404		551		(2,420)
Forward commitments
Included in mortgage banking income	1,041		(10,607)		2,424		(419)
Total	$	1,159	$	(6,813)	$	6,521	$	(2,395)

The following table presents the effects of the Company’s fair value hedge relationships on the Consolidated Statements of Income for the periods presented:


		Amount of Gain (Loss) Recognized in Income
	Income Statement	Three Months Ended June 30,				Six Months Ended June 30,
	Location	2023		2022		2023		2022
Derivative liabilities:
Interest rate swaps - subordinated notes	Interest Expense	$	(1,939)	$	(3,805)	$	582	$	(10,148)

Derivative liabilities - hedged items:
Interest rate swaps - subordinated notes	Interest Expense	$	1,939	$	3,805	$	(582)	$	10,148

Schedule of derivatives instruments statements of financial performance and financial position, location

The following table presents the amounts that were recorded in the Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges as of the dates presented:


	Carrying Amount of the Hedged Liability				Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of the Hedged Liability
Balance Sheet Location	June 30, 2023		December 31, 2022		June 30, 2023		December 31, 2022
Long-term debt	$	79,550	$	78,881	$	19,207	$	19,789

Offsetting assets

The following table presents the Company’s gross derivative positions as recognized in the Consolidated Balance Sheets as well as the net derivative positions, including collateral pledged to the extent the application of such collateral did not reduce the net derivative liability position below zero, had the Company elected to offset those instruments subject to an enforceable master netting agreement:


	Offsetting Derivative Assets				Offsetting Derivative Liabilities
	June 30, 2023		December 31, 2022		June 30, 2023		December 31, 2022
Gross amounts recognized	$	36,832	$	36,493	$	23,894	$	22,056
Gross amounts offset in the Consolidated Balance Sheets	—		—		—		—
Net amounts presented in the Consolidated Balance Sheets	36,832		36,493		23,894		22,056
Gross amounts not offset in the Consolidated Balance Sheets
Financial instruments	23,842		22,056		23,842		22,056
Financial collateral pledged	—		—		—		—
Net amounts	$	12,990	$	14,437	$	52	$	—

Offsetting liabilities


	Offsetting Derivative Assets				Offsetting Derivative Liabilities
	June 30, 2023		December 31, 2022		June 30, 2023		December 31, 2022
Gross amounts recognized	$	36,832	$	36,493	$	23,894	$	22,056
Gross amounts offset in the Consolidated Balance Sheets	—		—		—		—
Net amounts presented in the Consolidated Balance Sheets	36,832		36,493		23,894		22,056
Gross amounts not offset in the Consolidated Balance Sheets
Financial instruments	23,842		22,056		23,842		22,056
Financial collateral pledged	—		—		—		—
Net amounts	$	12,990	$	14,437	$	52	$	—

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References + Details

Income Taxes - Significant Components of The Company's Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Deferred tax assets
Allowance for credit losses	$ 52,475	$ 52,551
Loans	2,173	2,518
Deferred compensation	12,449	14,447
Net unrealized losses on securities	63,874	70,999
Impairment of assets	220	316
Net operating loss carryforwards	151	497
Investment in partnerships	1,366	1,164
Lease liabilities under operating leases	14,004	14,641
Other	5,897	3,523
Total deferred tax assets	152,609	160,656
Deferred tax liabilities
Fixed assets	10,340	10,342
Mortgage servicing rights	20,386	19,624
Junior subordinated debt	1,827	1,948
Intangibles	2,539	2,702
Lease right-of-use asset	13,363	14,018
Other	1,173	1,614
Total deferred tax liabilities	49,628	50,248
Net deferred tax assets	$ 102,981	$ 110,408

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets
Cash and due from banks	$ 211,452	$ 193,513
Interest-bearing balances with banks	735,447	382,479
Cash and cash equivalents	946,899	575,992
Securities held to maturity (net of allowance for credit losses of $32 at each of June 30, 2023 and December 31, 2022) (fair value of $1,153,541 and $1,206,540, respectively)	1,273,044	1,324,040
Securities available for sale, at fair value	950,930	1,533,942
Loans held for sale, at fair value	249,615	110,105
Loans, net of unearned income:
Loans held for investment, net of unearned income	11,930,516	11,578,304
Allowance for credit losses on loans	(194,391)	(192,090)
Loans, net	11,736,125	11,386,214
Premises and equipment, net	285,952	283,595
Other real estate owned, net	5,120	1,763
Goodwill	991,665	991,708
Other intangible assets, net	21,381	24,176
Bank-owned life insurance	377,649	373,808
Mortgage servicing rights	87,432	84,448
Other assets	298,530	298,385
Total assets	17,224,342	16,988,176
Deposits
Noninterest-bearing	3,878,953	4,558,756
Interest-bearing	10,216,408	8,928,210
Total deposits	14,095,361	13,486,966
Short-term borrowings	257,305	712,232
Long-term debt	429,630	428,133
Other liabilities	233,418	224,829
Total liabilities	15,015,714	14,852,160
Shareholders’ equity
Preferred stock, $0.01 par value – 5,000,000 shares authorized; no shares issued and outstanding	0	0
Common stock, $5.00 par value – 150,000,000 shares authorized; 59,296,725 shares issued; 56,132,478 and 55,953,104 shares outstanding, respectively	296,483	296,483
Treasury stock, at cost – 3,164,247 and 3,343,621 shares, respectively	(105,589)	(111,577)
Additional paid-in capital	1,301,883	1,302,422
Retained earnings	907,312	857,725
Accumulated other comprehensive loss, net of taxes	(191,461)	(209,037)
Total shareholders’ equity	2,208,628	2,136,016
Total liabilities and shareholders’ equity	$ 17,224,342	$ 16,988,176

Other Real Estate Owned

6 Months Ended

Jun. 30, 2023

Real Estate [Abstract]

Other Real Estate Owned

(In Thousands)

The following table provides details of the Company’s other real estate owned (“OREO”), net of valuation allowances and direct write-downs, as of the dates presented:


	June 30, 2023		December 31, 2022
Residential real estate	$	459	$	699
Commercial real estate	3,481		62
Residential land development	448		246
Commercial land development	732		756

Total	$	5,120	$	1,763

Changes in the Company’s OREO were as follows:


	Total OREO
Balance at January 1, 2023	$	1,763


Transfers of loans	4,119

Impairments	(8)
Dispositions	(738)
Other	(16)
Balance at June 30, 2023	$	5,120

At June 30, 2023 and December 31, 2022, the amortized cost of loans secured by Real Estate - 1-4 Family Mortgage in the process of foreclosure was $2,735 and $375, respectively.

Components of the line item “Other real estate owned” in the Consolidated Statements of Income were as follows for the periods presented:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2023		2022		2023		2022
Repairs and maintenance	$	28	$	17	$	44	$	20
Property taxes and insurance	11		27		122		62
Impairments	8		37		8		51
Net losses (gains) on OREO sales	6		(266)		(89)		(557)
Rental income	(2)		(2)		(4)		(4)
Total	$	51	$	(187)	$	81	$	(428)

Other Real Estate Owned - Covered and Not Covered Under a Loss-Share Agreement, Net of Valuation Allowances and Direct Write-Downs (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Real Estate Properties [Line Items]
Other real estate owned, net	$ 5,120	$ 1,763
Residential real estate
Real Estate Properties [Line Items]
Other real estate owned, net	459	699
Commercial real estate
Real Estate Properties [Line Items]
Other real estate owned, net	3,481	62
Residential land development
Real Estate Properties [Line Items]
Other real estate owned, net	448	246
Commercial land development
Real Estate Properties [Line Items]
Other real estate owned, net	$ 732	$ 756

Mortgage Servicing Rights - Data and Key Economic Assumptions Related to the Company's MRSs (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Data and key economic assumptions related to mortgage servicing rights
Unpaid principal balance	$ 7,612,976	$ 7,494,413
Weighted-average prepayment speed (CPR)	7.43%	7.00%
Estimated impact of a 10% increase	$ (2,245)	$ (1,765)
Estimated impact of a 20% increase	$ (4,791)	$ (3,957)
Discount rate	10.32%	10.30%
Estimated impact of a 10% increase	$ (5,414)	$ (5,393)
Estimated impact of a 20% increase	$ (10,400)	$ (10,354)
Weighted-average coupon interest rate	3.67%	3.51%
Weighted-average servicing fee (basis points)	32.62%	32.44%
Weighted-average remaining maturity (in years)	8 years 29 days	8 years 3 months 29 days

Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Other Comprehensive Income (Loss)

(In Thousands)

Changes in the components of other comprehensive income (loss), net of tax, were as follows for the periods presented:


	Pre-Tax		Tax Expense (Benefit)		Net of Tax
Three months ended June 30, 2023
Securities available for sale:
Unrealized holding losses on securities	$	(21,283)	$	(5,353)	$	(15,930)

Reclassification adjustment for losses realized in net income	22,438		5,622		16,816

Amortization of unrealized holding losses on securities transferred to the held to maturity category	3,026		774		2,252
Total securities available for sale	4,181		1,043		3,138
Derivative instruments:
Unrealized holding losses on derivative instruments	(3,167)		(806)		(2,361)

Total derivative instruments	(3,167)		(806)		(2,361)
Defined benefit pension and post-retirement benefit plans:


Amortization of net actuarial loss recognized in net periodic pension cost	115		29		86
Total defined benefit pension and post-retirement benefit plans	115		29		86
Total other comprehensive income	$	1,129	$	266	$	863
Three months ended June 30, 2022
Securities available for sale:

Unrealized holding losses on securities	$	(76,405)	$	(19,447)	$	(56,958)


Amortization of unrealized holding gains on securities transferred to the held to maturity category	(220)		(56)		(164)
Total securities available for sale	(76,625)		(19,503)		(57,122)
Derivative instruments:
Unrealized holding gains on derivative instruments	8,401		2,139		6,262

Total derivative instruments	8,401		2,139		6,262
Defined benefit pension and post-retirement benefit plans:

Amortization of net actuarial loss recognized in net periodic pension cost	41		10		31
Total defined benefit pension and post-retirement benefit plans	41		10		31
Total other comprehensive loss	$	(68,183)	$	(17,354)	$	(50,829)


	Pre-Tax		Tax Expense (Benefit)		Net of Tax
Six months ended June 30, 2023
Securities available for sale:
Unrealized holding losses on securities	$	(569)	$	(170)	$	(399)

Reclassification adjustment for losses realized in net income	22,438		5,622		16,816

Amortization of unrealized holding losses on securities transferred to the held to maturity category	6,154		1,574		4,580
Total securities available for sale	28,023		7,026		20,997
Derivative instruments:
Unrealized holding losses on derivative instruments	(4,823)		(1,230)		(3,593)

Total derivative instruments	(4,823)		(1,230)		(3,593)
Defined benefit pension and post-retirement benefit plans:


Amortization of net actuarial loss recognized in net periodic pension cost	231		59		172
Total defined benefit pension and post-retirement benefit plans	231		59		172
Total other comprehensive income	$	23,431	$	5,855	$	17,576

Six months ended June 30, 2022
Securities available for sale:
Unrealized holding losses on securities	$	(211,161)	$	(53,741)	$	(157,420)



Amortization of unrealized holding gains on securities transferred to the held to maturity category	(319)		(81)		(238)
Total securities available for sale	(211,480)		(53,822)		(157,658)
Derivative instruments:
Unrealized holding gains on derivative instruments	16,957		4,316		12,641

Total derivative instruments	16,957		4,316		12,641
Defined benefit pension and post-retirement benefit plans:

Amortization of net actuarial loss recognized in net periodic pension cost	83		21		62
Total defined benefit pension and post-retirement benefit plans	83		21		62
Total other comprehensive loss	$	(194,440)	$	(49,485)	$	(144,955)

The accumulated balances for each component of other comprehensive loss, net of tax, were as follows as of the dates presented:


	June 30, 2023		December 31, 2022
Unrealized losses on securities	$	(198,769)	$	(219,766)

Unrealized gains on derivative instruments	15,363		18,956
Unrecognized losses on defined benefit pension and post-retirement benefit plans obligations	(8,055)		(8,227)
Total accumulated other comprehensive loss	$	(191,461)	$	(209,037)

Goodwill and Other Intangible Assets - Current Year Amortization Expense for Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Finite-Lived Intangible Assets [Line Items]
Total intangible amortization	$ 1,369	$ 1,310	$ 2,795	$ 2,676
Core deposit intangibles
Finite-Lived Intangible Assets [Line Items]
Total intangible amortization	1,034	1,264	2,126	2,585
Customer relationship intangible
Finite-Lived Intangible Assets [Line Items]
Total intangible amortization	$ 335	$ 46	$ 669	$ 91

Securities - Contractual Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Amortized Cost
Due within one year	$ 0
Due after one year through five years	3,294
Due after five years through ten years	70,241
Due after ten years	216,413
Amortized Cost	1,273,076	$ 1,324,072
Fair Value
Due within one year	0
Due after one year through five years	3,115
Due after five years through ten years	61,158
Due after ten years	182,917
Fair Value	1,153,541	1,206,540
Amortized Cost
Due within one year	8,630
Due after one year through five years	37,323
Due after five years through ten years	51,728
Due after ten years	16,769
Amortized Cost	1,130,119	1,735,000
Fair Value
Due within one year	8,599
Due after one year through five years	37,428
Due after five years through ten years	44,978
Due after ten years	14,671
Fair Value	950,930	1,533,942
Residential mortgage backed securities:
Amortized Cost
Amortized Cost	405,793	423,315
Fair Value
Fair Value	370,421	392,609
Other debt securities
Amortized Cost
Without single maturity date, amortized cost	60,228
Amortized Cost	60,227	62,875
Fair Value
Without single maturity date, fair value	55,169
Fair Value	55,169	58,609
Amortized Cost
Debt securities, without fixed maturity, amortized cost	73
Amortized Cost	73,049	74,885
Fair Value
Debt securities, without fixed maturity, fair value	71
Fair Value	67,696	70,836
Government agency mortgage backed securities \| Residential mortgage backed securities:
Amortized Cost
Without single maturity date, amortized cost	455,199
Amortized Cost	455,199	483,560
Fair Value
Without single maturity date, fair value	429,402
Fair Value	429,402	459,128
Amortized Cost
Debt securities, without fixed maturity, amortized cost	328,760
Amortized Cost	328,760	508,415
Fair Value
Debt securities, without fixed maturity, fair value	286,037
Fair Value	286,037	456,416
Government agency mortgage backed securities \| Commercial mortgage backed securities:
Amortized Cost
Without single maturity date, amortized cost	16,995
Amortized Cost	16,995	17,006
Fair Value
Without single maturity date, fair value	13,764
Fair Value	13,764	13,745
Amortized Cost
Debt securities, without fixed maturity, amortized cost	6,042
Amortized Cost	6,042	11,166
Fair Value
Debt securities, without fixed maturity, fair value	5,245
Fair Value	5,245	10,113
Government agency collateralized mortgage obligations \| Residential mortgage backed securities:
Amortized Cost
Without single maturity date, amortized cost	405,793
Fair Value
Without single maturity date, fair value	370,421
Amortized Cost
Debt securities, without fixed maturity, amortized cost	516,474
Amortized Cost	516,474	605,033
Fair Value
Debt securities, without fixed maturity, fair value	415,089
Fair Value	415,089	501,169
Government agency collateralized mortgage obligations \| Commercial mortgage backed securities:
Amortized Cost
Without single maturity date, amortized cost	44,913
Amortized Cost	44,913	45,430
Fair Value
Without single maturity date, fair value	37,595
Fair Value	37,595	38,871
Amortized Cost
Debt securities, without fixed maturity, amortized cost	164,320
Amortized Cost	164,320	211,435
Fair Value
Debt securities, without fixed maturity, fair value	138,812
Fair Value	$ 138,812	$ 185,846

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Financial assets:
Securities available for sale, at fair value	$ 950,930	$ 1,533,942
Derivative instruments	36,832	36,493
Financial liabilities:
Derivative instruments	23,894	22,056
Recurring
Financial assets:
Derivative instruments	38,746	38,047
Mortgage loans held for sale in loans held for sale	249,615	110,105
Total financial assets	1,239,291	1,682,094
Financial liabilities:
Derivative instruments	35,151	33,185
Recurring \| Securities available for sale
Financial assets:
Securities available for sale, at fair value	950,930	1,533,942
Recurring \| Level 1
Financial assets:
Derivative instruments	0	0
Mortgage loans held for sale in loans held for sale	0	0
Total financial assets	0	0
Financial liabilities:
Derivative instruments	0	0
Recurring \| Level 1 \| Securities available for sale
Financial assets:
Securities available for sale, at fair value	0	0
Recurring \| Level 2
Financial assets:
Derivative instruments	38,746	38,047
Mortgage loans held for sale in loans held for sale	249,615	110,105
Total financial assets	1,239,291	1,682,094
Financial liabilities:
Derivative instruments	35,151	33,185
Recurring \| Level 2 \| Securities available for sale
Financial assets:
Securities available for sale, at fair value	950,930	1,533,942
Recurring \| Level 3
Financial assets:
Derivative instruments	0	0
Mortgage loans held for sale in loans held for sale	0	0
Total financial assets	0	0
Financial liabilities:
Derivative instruments	0	0
Recurring \| Level 3 \| Securities available for sale
Financial assets:
Securities available for sale, at fair value	$ 0	$ 0

Loans (Tables)

6 Months Ended

Jun. 30, 2023

Receivables [Abstract]

Summary of non-purchased loans and leases

The following is a summary of loans and leases as of the dates presented:


	June 30, 2023		December 31, 2022
Commercial, financial, agricultural	$	1,729,070	$	1,673,883
Lease financing	129,998		122,167
Real estate – construction:
Residential	308,401		355,500
Commercial	1,060,618		974,837
Total real estate – construction	1,369,019		1,330,337
Real estate – 1-4 family mortgage:
Primary	2,372,739		2,222,856
Home equity	502,341		501,906
Rental/investment	335,509		334,382
Land development	138,065		157,119
Total real estate – 1-4 family mortgage	3,348,654		3,216,263
Real estate – commercial mortgage:
Owner-occupied	1,553,890		1,539,296
Non-owner occupied	3,585,160		3,452,910
Land development	113,429		125,857
Total real estate – commercial mortgage	5,252,479		5,118,063
Installment loans to individuals	108,924		124,745
Gross loans	11,938,144		11,585,458
Unearned income	(7,628)		(7,154)
Loans, net of unearned income	$	11,930,516	$	11,578,304

Aging of past due and nonaccrual loans

The following tables provide an aging of past due accruing and nonaccruing loans, segregated by class, as of the dates presented:


	Accruing Loans								Nonaccruing Loans
	30-89 Days Past Due		90 Days or More Past Due		Current Loans		Total Loans		30-89 Days Past Due		90 Days or More Past Due		Current Loans		Total Loans		Total Loans
June 30, 2023
Commercial, financial, agricultural	$	238	$	228	$	1,721,134	$	1,721,600	$	14	$	1,904	$	5,552	$	7,470	$	1,729,070
Lease financing	—		—		129,998		129,998		—		—		—		—		129,998
Real estate – construction:
Residential	—		—		308,401		308,401		—		—		—		—		308,401
Commercial	—		—		1,060,618		1,060,618		—		—		—		—		1,060,618
Total real estate – construction	—		—		1,369,019		1,369,019		—		—		—		—		1,369,019
Real estate – 1-4 family mortgage:
Primary	6,127		—		2,330,145		2,336,272		4,350		17,260		14,857		36,467		2,372,739
Home equity	2,340		—		497,702		500,042		296		835		1,168		2,299		502,341
Rental/investment	146		1		332,277		332,424		319		2,236		530		3,085		335,509
Land development	64		—		137,982		138,046		—		3		16		19		138,065
Total real estate – 1-4 family mortgage	8,677		1		3,298,106		3,306,784		4,965		20,334		16,571		41,870		3,348,654
Real estate – commercial mortgage:
Owner-occupied	1,110		20,999		1,528,758		1,550,867		—		1,639		1,384		3,023		1,553,890
Non-owner occupied	741		15,092		3,566,577		3,582,410		—		—		2,750		2,750		3,585,160
Land development	414		—		112,961		113,375		7		—		47		54		113,429
Total real estate – commercial mortgage	2,265		36,091		5,208,296		5,246,652		7		1,639		4,181		5,827		5,252,479
Installment loans to individuals	966		1		107,685		108,652		25		123		124		272		108,924
Unearned income	—		—		(7,628)		(7,628)		—		—		—		—		(7,628)
Loans, net of unearned income	$	12,146	$	36,321	$	11,826,610	$	11,875,077	$	5,011	$	24,000	$	26,428	$	55,439	$	11,930,516


	Accruing Loans								Nonaccruing Loans
	30-89 Days Past Due		90 Days or More Past Due		Current Loans		Total Loans		30-89 Days Past Due		90 Days or More Past Due		Current Loans		Total Loans		Total Loans
December 31, 2022
Commercial, financial, agricultural	$	1,303	$	69	$	1,660,037	$	1,661,409	$	18	$	2,373	$	10,083	$	12,474	$	1,673,883
Lease financing	—		—		122,167		122,167		—		—		—		—		122,167
Real estate – construction:
Residential	49		—		355,374		355,423		—		—		77		77		355,500
Commercial	8,525		—		966,312		974,837		—		—		—		—		974,837
Total real estate – construction	8,574		—		1,321,686		1,330,260		—		—		77		77		1,330,337
Real estate – 1-4 family mortgage:
Primary	28,198		—		2,164,582		2,192,780		6,015		12,503		11,558		30,076		2,222,856
Home equity	5,376		—		494,621		499,997		450		754		705		1,909		501,906
Rental/investment	720		38		332,648		333,406		20		331		625		976		334,382
Land development	174		—		156,863		157,037		46		36		—		82		157,119
Total real estate – 1-4 family mortgage	34,468		38		3,148,714		3,183,220		6,531		13,624		12,888		33,043		3,216,263
Real estate – commercial mortgage:
Owner-occupied	8,557		219		1,525,240		1,534,016		1,495		2,244		1,541		5,280		1,539,296
Non-owner occupied	3,521		—		3,444,047		3,447,568		5,304		—		38		5,342		3,452,910
Land development	279		—		125,507		125,786		—		40		31		71		125,857
Total real estate – commercial mortgage	12,357		219		5,094,794		5,107,370		6,799		2,284		1,610		10,693		5,118,063
Installment loans to individuals	2,001		5		122,481		124,487		38		100		120		258		124,745
Unearned income	—		—		(7,154)		(7,154)		—		—		—		—		(7,154)
Loans, net of unearned income	$	58,703	$	331	$	11,462,725	$	11,521,759	$	13,386	$	18,381	$	24,778	$	56,545	$	11,578,304

Summary of amortized cost basis of loan modifications


	Three Months Ended										Six Months Ended
	Interest Rate Reduction		Term Extension		Payment Delay		Total		% Total Loans by Class		Interest Rate Reduction		Term Extension		Payment Delay		Total		% Total Loans by Class
Commercial, financial, agricultural	$	—	$	1,210	$	—	$	1,210	0.07	%	$	—	$	1,210	$	—	$	1,210	0.07	%

Real estate – construction:
Residential	—		4,366		—		4,366		1.42		—		4,366		—		4,366		1.42

Total real estate – construction	—		4,366		—		4,366		0.32		—		4,366		—		4,366		0.32
Real estate – 1-4 family mortgage:

Home equity	9		—		—		9		—		9		—		—		9		—


Total real estate – 1-4 family mortgage	9		—		—		9		—		9		—		—		9		—
Real estate – commercial mortgage:
Owner-occupied	—		—		—		—		—		155		—		—		155		0.01
Non-owner occupied	—		—		—		—		—		1,026		—		—		1,026		0.03
Land development	—		97		277		374		0.33		—		97		277		374		0.33
Total real estate – commercial mortgage	—		97		277		374		0.01		1,181		97		277		1,555		0.03

Loans, net of unearned income	$	9	$	5,673	$	277	$	5,959	0.05	%	$	1,190	$	5,673	$	277	$	7,140	0.06	%


	Three Months Ended			Six Months Ended
	Interest Rate Reduction (in basis points)	Term Extension (in months)	Payment Delay (in months)	Interest Rate Reduction (in basis points)	Term Extension (in months)	Payment Delay (in months)
Commercial, financial, agricultural	—	2.1	—	—	2.1	—

Real estate – construction:
Residential	—	4.7	—	—	4.7	—


Real estate – 1-4 family mortgage:

Home equity	300	—	—	300	—	—



Real estate – commercial mortgage:
Owner-occupied	—	—	—	68	—	—
Non-owner occupied	—	—	—	12	—	—
Land development	—	8.4	3.0	—	8.4	3.0


Loans, net of unearned income	300	4.2	3.0	21	4.2	3.0

Loan portfolio by risk-rating grades

The following tables present the Company’s loan portfolio by year of origination and internal risk-rating grades as of the dates presented:


	Term Loans Amortized Cost Basis by Origination Year
	2023		2022		2021		2020		2019		Prior		Revolving Loans		Revolving Loans Converted to Term		Total Loans
June 30, 2023
Commercial, Financial, Agricultural	$	160,357	$	337,339	$	181,509	$	115,728	$	57,124	$	48,682	$	807,867	$	8,310	$	1,716,916
Pass	159,095		330,341		180,712		114,617		56,481		38,893		792,703		8,071		1,680,913
Special Mention	108		255		84		882		122		1,360		3,437		73		6,321
Substandard	1,154		6,743		713		229		521		8,429		11,727		166		29,682

Lease Financing Receivables	$	23,672	$	54,488	$	15,192	$	16,291	$	8,155	$	4,572	$	—	$	—	$	122,370
Pass	23,672		51,207		14,852		14,069		7,209		3,461		—		—		114,470
Special Mention	—		2,903		—		2,148		880		1,111		—		—		7,042
Substandard	—		378		340		74		66		—		—		—		858

Real Estate - Construction	$	185,727	$	550,565	$	401,648	$	90,582	$	—	$	1,881	$	20,208	$	—	$	1,250,611
Residential	115,937		65,608		4,667		—		—		375		3,406		—		189,993
Pass	115,701		60,205		4,667		—		—		375		3,406		—		184,354
Special Mention	—		1,273		—		—		—		—		—		—		1,273
Substandard	236		4,130		—		—		—		—		—		—		4,366

Commercial	69,790		484,957		396,981		90,582		—		1,506		16,802		—		1,060,618
Pass	69,790		484,957		396,835		90,582		—		1,506		16,802		—		1,060,472
Special Mention	—		—		146		—		—		—		—		—		146
Substandard	—		—		—		—		—		—		—		—		—

Real Estate - 1-4 Family Mortgage	$	59,631	$	198,349	$	119,937	$	46,460	$	21,573	$	45,521	$	26,542	$	1,978	$	519,991
Primary	4,982		10,317		6,702		4,437		2,030		10,265		1,684		972		41,389
Pass	4,797		10,093		6,484		4,437		2,017		9,788		1,684		972		40,272
Special Mention	185		—		—		—		—		41		—		—		226
Substandard	—		224		218		—		13		436		—		—		891

Home Equity	1,258		188		1,066		—		36		26		16,086		102		18,762
Pass	1,258		188		1,024		—		36		3		16,038		—		18,547
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		42		—		—		23		48		102		215

Rental/Investment	32,640		130,610		77,454		41,538		19,341		26,730		6,169		904		335,386
Pass	32,183		129,979		76,118		39,050		17,653		24,885		6,169		688		326,725
Special Mention	49		244		64		6		53		210		—		—		626
Substandard	408		387		1,272		2,482		1,635		1,635		—		216		8,035

Land Development	20,751		57,234		34,715		485		166		8,500		2,603		—		124,454
Pass	20,711		57,184		34,715		466		166		8,356		2,603		—		124,201
Special Mention	—		50		—		—		—		101		—		—		151
Substandard	40		—		—		19		—		43		—		—		102


	Term Loans Amortized Cost Basis by Origination Year
	2023		2022		2021		2020		2019		Prior		Revolving Loans		Revolving Loans Converted to Term		Total Loans
Real Estate - Commercial Mortgage	$	299,282	$	1,632,288	$	1,081,857	$	703,409	$	451,560	$	920,297	$	125,452	$	24,729	$	5,238,874
Owner-Occupied	88,498		324,773		327,055		225,311		166,529		362,717		55,483		3,395		1,553,761
Pass	87,853		313,918		323,360		221,598		162,782		340,878		46,343		3,110		1,499,842
Special Mention	322		—		2,281		1,115		405		679		19		—		4,821
Substandard	323		10,855		1,414		2,598		3,342		21,160		9,121		285		49,098

Non-Owner Occupied	201,254		1,258,819		739,030		472,819		279,605		548,488		63,974		21,145		3,585,134
Pass	201,225		1,255,224		736,016		472,819		256,063		466,144		63,974		11,960		3,463,425
Special Mention	29		463		2,633		—		7,007		25,645		—		—		35,777
Substandard	—		3,132		381		—		16,535		56,699		—		9,185		85,932

Land Development	9,530		48,696		15,772		5,279		5,426		9,092		5,995		189		99,979
Pass	9,495		48,194		15,452		4,836		5,404		8,635		5,938		189		98,143
Special Mention	—		193		38		—		—		—		—		—		231
Substandard	35		309		282		443		22		457		57		—		1,605

Installment loans to individuals	$	—	$	—	$	—	$	—	$	13	$	—	$	—	$	—	$	13
Pass	—		—		—		—		13		—		—		—		13
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—		—

Total loans subject to risk rating	$	728,669	$	2,773,029	$	1,800,143	$	972,470	$	538,425	$	1,020,953	$	980,069	$	35,017	$	8,848,775
Pass	725,780		2,741,490		1,790,235		962,474		507,824		902,924		955,660		24,990		8,611,377
Special Mention	693		5,381		5,246		4,151		8,467		29,147		3,456		73		56,614
Substandard	2,196		26,158		4,662		5,845		22,134		88,882		20,953		9,954		180,784


	Term Loans Amortized Cost Basis by Origination Year
	2022		2021		2020		2019		2018		Prior		Revolving Loans		Revolving Loans Converted to Term		Total Loans
December 31, 2022
Commercial, Financial, Agricultural	$	460,604	$	209,964	$	142,790	$	63,164	$	25,099	$	35,142	$	717,422	$	3,522	$	1,657,707
Pass	450,559		209,580		141,712		62,370		21,963		28,014		704,491		2,384		1,621,073
Special Mention	719		—		1,010		383		678		—		11,616		80		14,486
Substandard	9,326		384		68		411		2,458		7,128		1,315		1,058		22,148

Lease Financing Receivables	$	61,424	$	18,379	$	18,318	$	10,628	$	4,557	$	1,707	$	—	$	—	$	115,013
Pass	58,204		18,379		15,846		9,060		3,269		1,353		—		—		106,111
Watch	—		—		—		—		—		354		—		—		354
Substandard	3,220		—		2,472		1,568		1,288		—		—		—		8,548

Real Estate - Construction	$	595,185	$	476,190	$	109,705	$	8,525	$	381	$	6,858	$	13,757	$	424	$	1,211,025
Residential	214,386		16,483		589		—		381		—		3,925		424		236,188
Pass	214,371		16,483		589		—		381		—		3,925		424		236,173
Special Mention	6		—		—		—		—		—		—		—		6
Substandard	9		—		—		—		—		—		—		—		9

Commercial	380,799		459,707		109,116		8,525		—		6,858		9,832		—		974,837
Pass	380,799		459,707		109,116		8,525		—		6,858		9,832		—		974,837
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—		—


	Term Loans Amortized Cost Basis by Origination Year
	2022		2021		2020		2019		2018		Prior		Revolving Loans		Revolving Loans Converted to Term		Total Loans
Real Estate - 1-4 Family Mortgage	$	233,370	$	141,066	$	48,653	$	24,664	$	25,604	$	35,971	$	26,920	$	1,238	$	537,486
Primary	12,877		7,965		5,068		2,435		4,522		8,723		4,931		106		46,627
Pass	12,616		7,965		5,068		2,421		4,522		8,419		4,931		106		46,048
Special Mention	—		—		—		—		—		51		—		—		51
Substandard	261		—		—		14		—		253		—		—		528

Home Equity	272		1,187		—		38		5		27		14,485		141		16,155
Pass	272		1,187		—		38		5		27		14,485		7		16,021
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		134		134

Rental/Investment	138,481		85,711		42,056		21,997		14,785		24,448		5,972		787		334,237
Pass	138,137		85,522		41,604		21,097		14,671		22,899		5,972		482		330,384
Special Mention	231		—		—		—		—		174		—		—		405
Substandard	113		189		452		900		114		1,375		—		305		3,448

Land Development	81,740		46,203		1,529		194		6,292		2,773		1,532		204		140,467
Pass	80,514		46,203		1,525		194		6,292		2,723		1,532		204		139,187
Special Mention	1,226		—		—		—		—		—		—		—		1,226
Substandard	—		—		4		—		—		50		—		—		54

Real Estate - Commercial Mortgage	$	1,624,197	$	1,000,563	$	713,303	$	531,424	$	277,862	$	810,919	$	121,305	$	25,173	$	5,104,746
Owner-Occupied	309,792		319,174		239,946		178,137		128,452		302,495		57,869		3,300		1,539,165
Pass	298,851		314,429		237,058		175,262		122,537		282,657		50,640		3,300		1,484,734
Special Mention	9,640		3,047		815		1,670		—		672		4,808		—		20,652
Substandard	1,301		1,698		2,073		1,205		5,915		19,166		2,421		—		33,779

Non-Owner Occupied	1,256,098		657,121		466,703		346,908		144,872		501,863		57,637		21,680		3,452,882
Pass	1,252,484		647,937		466,703		322,997		127,358		418,294		57,637		12,142		3,305,552
Special Mention	506		—		—		21,961		17,509		8,975		—		—		48,951
Substandard	3,108		9,184		—		1,950		5		74,594		—		9,538		98,379

Land Development	58,307		24,268		6,654		6,379		4,538		6,561		5,799		193		112,699
Pass	58,307		24,228		6,342		6,379		4,465		6,067		5,799		193		111,780
Special Mention	—		40		—		—		—		—		—		—		40
Substandard	—		—		312		—		73		494		—		—		879

Installment loans to individuals	$	—	$	—	$	—	$	24	$	—	$	—	$	—	$	—	$	24
Pass	—		—		—		24		—		—		—		—		24
Special Mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—		—

Total loans subject to risk rating	$	2,974,780	$	1,846,162	$	1,032,769	$	638,429	$	333,503	$	890,597	$	879,404	$	30,357	$	8,626,001
Pass	2,945,114		1,831,620		1,025,563		608,367		305,463		777,311		859,244		19,242		8,371,924
Special Mention	12,328		3,087		1,825		24,014		18,187		10,226		16,424		80		86,171
Substandard	17,338		11,455		5,381		6,048		9,853		103,060		3,736		11,035		167,906

The following tables present the performing status of the Company’s loan portfolio not subject to risk rating as of the dates presented:


	Term Loans Amortized Cost Basis by Origination Year
	2023		2022		2021		2020		2019		Prior		Revolving Loans		Revolving Loans Converted to Term		Total Loans
June 30, 2023
Commercial, Financial, Agricultural	$	—	$	13	$	—	$	—	$	—	$	12,141	$	—	$	—	$	12,154
Performing Loans	—		13		—		—		—		12,141		—		—		12,154
Non-Performing Loans	—		—		—		—		—		—		—		—		—





Real Estate - Construction	$	13,699	$	71,472	$	33,228	$	—	$	—	$	—	$	9	$	—	$	118,408
Residential	13,699		71,472		33,228		—		—		—		9		—		118,408
Performing Loans	13,699		71,472		33,228		—		—		—		9		—		118,408
Non-Performing Loans	—		—		—		—		—		—		—		—		—

Commercial	—		—		—		—		—		—		—		—		—
Performing Loans	—		—		—		—		—		—		—		—		—
Non-Performing Loans	—		—		—		—		—		—		—		—		—

Real Estate - 1-4 Family Mortgage	$	212,571	$	715,606	$	548,966	$	331,405	$	145,876	$	391,344	$	477,190	$	5,705	$	2,828,663
Primary	209,042		710,207		546,177		330,520		145,348		390,002		—		54		2,331,350
Performing Loans	208,984		706,836		542,180		323,546		140,598		372,881		—		54		2,295,079
Non-Performing Loans	58		3,371		3,997		6,974		4,750		17,121		—		—		36,271

Home Equity	—		—		111		—		—		627		477,190		5,651		483,579
Performing Loans	—		—		111		—		—		562		475,953		4,653		481,279
Non-Performing Loans	—		—		—		—		—		65		1,237		998		2,300

Rental/Investment	—		—		—		—		—		123		—		—		123
Performing Loans	—		—		—		—		—		123		—		—		123
Non-Performing Loans	—		—		—		—		—		—		—		—		—

Land Development	3,529		5,399		2,678		885		528		592		—		—		13,611
Performing Loans	3,529		5,399		2,678		885		528		592		—		—		13,611
Non-Performing Loans	—		—		—		—		—		—		—		—		—

Real Estate - Commercial Mortgage	$	2,816	$	3,768	$	3,223	$	2,203	$	1,046	$	549	$	—	$	—	$	13,605
Owner-Occupied	—		—		—		129		—		—		—		—		129
Performing Loans	—		—		—		129		—		—		—		—		129
Non-Performing Loans	—		—		—		—		—		—		—		—		—

Non-Owner Occupied	—		—		—		26		—		—		—		—		26
Performing Loans	—		—		—		26		—		—		—		—		26
Non-Performing Loans	—		—		—		—		—		—		—		—		—

Land Development	2,816		3,768		3,223		2,048		1,046		549		—		—		13,450
Performing Loans	2,816		3,725		3,223		2,044		1,046		549		—		—		13,403
Non-Performing Loans	—		43		—		4		—		—		—		—		47

Installment loans to individuals	$	21,153	$	25,881	$	10,415	$	4,340	$	11,782	$	21,476	$	13,843	$	21	$	108,911
Performing Loans	21,153		25,779		10,413		4,309		11,745		21,382		13,843		15		108,639
Non-Performing Loans	—		102		2		31		37		94		—		6		272

Total loans not subject to risk rating	$	250,239	$	816,740	$	595,832	$	337,948	$	158,704	$	425,510	$	491,042	$	5,726	$	3,081,741
Performing Loans	250,181		813,224		591,833		330,939		153,917		408,230		489,805		4,722		3,042,851
Non-Performing Loans	58		3,516		3,999		7,009		4,787		17,280		1,237		1,004		38,890


	Term Loans Amortized Cost Basis by Origination Year
	2022		2021		2020		2019		2018		Prior		Revolving Loans		Revolving Loans Converted to Term		Total Loans
December 31, 2022
Commercial, Financial, Agricultural	$	13	$	—	$	—	$	—	$	—	$	16,163	$	—	$	—	$	16,176
Performing Loans	13		—		—		—		—		16,163		—		—		16,176
Non-Performing Loans	—		—		—		—		—		—		—		—		—

Lease Financing Receivables	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Performing Loans	—		—		—		—		—		—		—		—		—
Non-Performing Loans	—		—		—		—		—		—		—		—		—

Real Estate - Construction	$	57,570	$	61,245	$	497	$	—	$	—	$	—	$	—	$	—	$	119,312
Residential	57,570		61,245		497		—		—		—		—		—		119,312
Performing Loans	57,493		61,245		497		—		—		—		—		—		119,235
Non-Performing Loans	77		—		—		—		—		—		—		—		77

Commercial	—		—		—		—		—		—		—		—		—
Performing Loans	—		—		—		—		—		—		—		—		—
Non-Performing Loans	—		—		—		—		—		—		—		—		—

Real Estate - 1-4 Family Mortgage	$	704,214	$	546,256	$	351,213	$	155,549	$	116,951	$	319,567	$	481,254	$	3,773	$	2,678,777
Primary	694,941		541,801		350,205		154,979		115,876		318,364		—		63		2,176,229
Performing Loans	694,221		538,870		345,912		150,821		109,156		307,178		—		63		2,146,221
Non-Performing Loans	720		2,931		4,293		4,158		6,720		11,186		—		—		30,008

Home Equity	—		111		—		—		—		676		481,254		3,710		485,751
Performing Loans	—		111		—		—		—		609		480,094		3,026		483,840
Non-Performing Loans	—		—		—		—		—		67		1,160		684		1,911

Rental/Investment	—		—		—		—		—		145		—		—		145
Performing Loans	—		—		—		—		—		145		—		—		145
Non-Performing Loans	—		—		—		—		—		—		—		—		—

Land Development	9,273		4,344		1,008		570		1,075		382		—		—		16,652
Performing Loans	9,257		4,344		1,008		570		1,075		319		—		—		16,573
Non-Performing Loans	16		—		—		—		—		63		—		—		79

Real Estate - Commercial Mortgage	$	4,805	$	3,518	$	2,587	$	1,281	$	691	$	435	$	—	$	—	$	13,317
Owner-Occupied	—		—		131		—		—		—		—		—		131
Performing Loans	—		—		131		—		—		—		—		—		131
Non-Performing Loans	—		—		—		—		—		—		—		—		—

Non-Owner Occupied	—		—		28		—		—		—		—		—		28
Performing Loans	—		—		28		—		—		—		—		—		28
Non-Performing Loans	—		—		—		—		—		—		—		—		—

Land Development	4,805		3,518		2,428		1,281		691		435		—		—		13,158
Performing Loans	4,805		3,518		2,422		1,281		691		435		—		—		13,152
Non-Performing Loans	—		—		6		—		—		—		—		—		6

Installment loans to individuals	$	44,255	$	15,976	$	6,416	$	14,252	$	17,095	$	10,626	$	16,062	$	39	$	124,721
Performing Loans	44,227		15,927		6,389		14,211		17,076		10,532		16,062		35		124,459
Non-Performing Loans	28		49		27		41		19		94		—		4		262

Total loans not subject to risk rating	$	810,857	$	626,995	$	360,713	$	171,082	$	134,737	$	346,791	$	497,316	$	3,812	$	2,952,303
Performing Loans	810,016		624,015		356,387		166,883		127,998		335,381		496,156		3,124		2,919,960
Non-Performing Loans	841		2,980		4,326		4,199		6,739		11,410		1,160		688		32,343

The following table discloses gross charge-offs by year of origination for the six months ended June 30:


	2023		2022		2021		2020		2019		Prior		Revolving Loans		Total Charge-offs
Commercial, financial, agricultural	$	17	$	403	$	118	$	120	$	—	$	3,945	$	865	$	5,468

Real estate – construction:
Residential	—		57		—		—		—		—		—		57


Real estate – 1-4 family mortgage:
Primary	—		—		—		—		—		57		—		57
Home equity	—		—		—		—		25		82		—		107
Rental/investment	—		51		—		—		—		—		—		51

Total real estate – 1-4 family mortgage	—		51		—		—		25		139		—		215
Real estate – commercial mortgage:
Owner-occupied	—		—		—		—		—		525		—		525
Non-owner occupied	—		—		—		2,442		—		2,545		—		4,987

Total real estate – commercial mortgage	—		—		—		2,442		—		3,070		—		5,512
Installment loans to individuals	3		37		38		5		2		1,305		—		1,390
Loans, net of unearned income	$	20	$	548	$	156	$	2,567	$	27	$	8,459	$	865	$	12,642

Securities - Securities Sold (Details) - USD ($)	3 Months Ended		6 Months Ended
Securities - Securities Sold (Details) - USD ($)	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Debt Securities, Available-for-sale [Line Items]
Carrying Value	$ 511,419,000		$ 511,419,000
Net Proceeds	488,981,000	$ 0	488,981,000	$ 0
(Loss)	(22,438,000)		(22,438,000)
Obligations of other U.S. Government agencies and corporations
Debt Securities, Available-for-sale [Line Items]
Carrying Value	170,000,000		170,000,000
Net Proceeds	164,915,000		164,915,000
(Loss)	(5,085,000)		(5,085,000)
Obligations of states and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Carrying Value	104,950,000		104,950,000
Net Proceeds	99,439,000		99,439,000
(Loss)	(5,511,000)		(5,511,000)
Residential mortgage backed securities: \| Government agency mortgage backed securities
Debt Securities, Available-for-sale [Line Items]
Carrying Value	137,196,000		137,196,000
Net Proceeds	130,602,000		130,602,000
(Loss)	(6,594,000)		(6,594,000)
Residential mortgage backed securities: \| Government agency collateralized mortgage obligations
Debt Securities, Available-for-sale [Line Items]
Carrying Value	54,028,000		54,028,000
Net Proceeds	51,101,000		51,101,000
(Loss)	(2,927,000)		(2,927,000)
Commercial mortgage backed securities: \| Government agency mortgage backed securities
Debt Securities, Available-for-sale [Line Items]
Carrying Value	5,048,000		5,048,000
Net Proceeds	4,825,000		4,825,000
(Loss)	(223,000)		(223,000)
Commercial mortgage backed securities: \| Government agency collateralized mortgage obligations
Debt Securities, Available-for-sale [Line Items]
Carrying Value	40,197,000		40,197,000
Net Proceeds	38,099,000		38,099,000
(Loss)	$ (2,098,000)		$ (2,098,000)

Mortgage Servicing Rights

6 Months Ended

Jun. 30, 2023

Transfers and Servicing [Abstract]

Mortgage Servicing Rights

(In Thousands)

The Company retains the right to service certain mortgage loans that it sells to secondary market investors. These mortgage servicing rights (“MSRs”) are recognized as a separate asset on the date the corresponding mortgage loan is sold. MSRs are amortized in proportion to and over the period of estimated net servicing income. These servicing rights are carried at the lower of amortized cost or fair value. Fair value is determined using an income approach with various assumptions, including expected cash flows, prepayment speeds, market discount rates, servicing costs, and other factors, and is subject to significant fluctuation as a result of actual prepayment speeds, default rates and losses differing from estimates thereof. For example, an increase in mortgage interest rates or a decrease in actual prepayment speeds may cause positive adjustments to the valuation of the Company’s MSRs.

MSRs are evaluated for impairment (or reversals of prior impairments) quarterly based upon the fair value of the rights as compared to the carrying amount. Impairment is recognized through a valuation allowance in the amount that unamortized cost exceeds fair value. If the Company later determines that all or a portion of the impairment no longer exists, a reduction of the valuation allowance may be recorded as an increase to income. Changes in valuation allowances related to servicing rights are reported in “Mortgage banking income” on the Consolidated Statements of Income.

There was no valuation adjustment on MSRs during the six months ended June 30, 2023 or 2022.

Changes in the Company’s MSRs were as follows:


Balance at January 1, 2023	$	84,448

Capitalization	7,717
Amortization	(4,733)

Balance at June 30, 2023	$	87,432

Data and key economic assumptions related to the Company’s MSRs are as follows as of the dates presented:


	June 30, 2023			December 31, 2022
Unpaid principal balance	$	7,612,976		$	7,494,413

Weighted-average prepayment speed (CPR)	7.43		%	7.00		%
Estimated impact of a 10% increase	$	(2,245)		$	(1,765)
Estimated impact of a 20% increase	(4,791)			(3,957)

Discount rate	10.32		%	10.30		%
Estimated impact of a 10% increase	$	(5,414)		$	(5,393)
Estimated impact of a 20% increase	(10,400)			(10,354)

Weighted-average coupon interest rate	3.67		%	3.51		%
Weighted-average servicing fee (basis points)	32.62			32.44
Weighted-average remaining maturity (in years)	8.08			8.33

The Company recorded servicing fees of $4,674 and $5,000 for the three months ended June 30, 2023 and 2022, respectively, and servicing fees of $8,939 and $9,423 for the six months ended June 30, 2023 and 2022, respectively, all of which are included in “Mortgage banking income” in the Consolidated Statements of Income.

- Definition

The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481420/860-30-50-1A

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 50
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)(7)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481229/860-50-50-4

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481326/860-20-50-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481326/860-20-50-3

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481326/860-20-50-4

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 50
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481229/860-50-50-3

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 50
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)(4)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481229/860-50-50-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 50
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)(5)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481229/860-50-50-3

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 50
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481229/860-50-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//860/tableOfContent

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481326/860-20-50-3

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (cc)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481326/860-20-50-3

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)(5)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481326/860-20-50-4

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481326/860-20-50-4

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4D
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481326/860-20-50-4D

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481420/860-30-50-1A

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481420/860-30-50-7

Reference 19: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 860
-SubTopic 50
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481229/860-50-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 50
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481229/860-50-50-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
-SubTopic 50
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481229/860-50-50-4

+ Details

Securities - Amortized Cost and Fair Value, Held to Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 1,273,076	$ 1,324,072
Gross Unrealized Gains	23	17
Gross Unrealized Losses	(119,558)	(117,549)
Fair Value	1,153,541	1,206,540
Allowance for credit losses - held to maturity securities	(32)	(32)
Held to maturity securities, net of allowance for credit losses	1,273,044	1,324,040
Obligations of states and political subdivisions
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	289,949	291,886
Gross Unrealized Gains	23	17
Gross Unrealized Losses	(42,782)	(48,325)
Fair Value	247,190	243,578
Residential mortgage backed securities:
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	405,793	423,315
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(35,372)	(30,706)
Fair Value	370,421	392,609
Other debt securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	60,227	62,875
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(5,058)	(4,266)
Fair Value	55,169	58,609
Government agency mortgage backed securities \| Residential mortgage backed securities:
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	455,199	483,560
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(25,797)	(24,432)
Fair Value	429,402	459,128
Government agency mortgage backed securities \| Commercial mortgage backed securities:
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	16,995	17,006
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(3,231)	(3,261)
Fair Value	13,764	13,745
Government agency collateralized mortgage obligations \| Commercial mortgage backed securities:
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	44,913	45,430
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(7,318)	(6,559)
Fair Value	$ 37,595	$ 38,871

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Assets and liabilities measured at fair value on a recurring basis

The following tables present assets and liabilities that are measured at fair value on a recurring basis as of the dates presented:


	Level 1		Level 2		Level 3		Totals
June 30, 2023
Financial assets:

Securities available for sale	$	—	$	950,930	$	—	$	950,930
Derivative instruments	—		38,746		—		38,746
Mortgage loans held for sale in loans held for sale	—		249,615		—		249,615
Total financial assets	$	—	$	1,239,291	$	—	$	1,239,291
Financial liabilities:
Derivative instruments:	$	—	$	35,151	$	—	$	35,151


	Level 1		Level 2		Level 3		Totals
December 31, 2022
Financial assets:

Securities available for sale	$	—	$	1,533,942	$	—	$	1,533,942

Derivative instruments	—		38,047		—		38,047
Mortgage loans held for sale in loans held for sale	—		110,105		—		110,105
Total financial assets	$	—	$	1,682,094	$	—	$	1,682,094
Financial liabilities:
Derivative instruments	$	—	$	33,185	$	—	$	33,185

Assets measured at fair value on a nonrecurring basis

The following tables provide the fair value measurement for assets measured at fair value on a nonrecurring basis that were still held on the Consolidated Balance Sheets as of the dates presented and the level within the fair value hierarchy each is classified:


June 30, 2023	Level 1		Level 2		Level 3		Totals
Individually evaluated loans, net of allowance for credit losses	$	—	$	—	$	51,537	$	51,537
OREO	—		—		37		37

Total	$	—	$	—	$	51,574	$	51,574


December 31, 2022	Level 1		Level 2		Level 3		Totals
Individually evaluated loans, net of allowance for credit losses	$	—	$	—	$	14,732	$	14,732
OREO	—		—		1,763		1,763

Total	$	—	$	—	$	16,495	$	16,495

OREO measured at fair value on a nonrecurring basis

The following table presents OREO measured at fair value on a nonrecurring basis that was still held on the Consolidated Balance Sheets as of the dates presented:


	June 30, 2023		December 31, 2022







Carrying amount prior to remeasurement	$	45	$	1,842
Impairment recognized in results of operations	(8)		(79)
Fair value	$	37	$	1,763

Significant unobservable inputs (Level 3) used in valuation of assets and liabilities measured at fair value on non recurring basis

The following table presents information as of June 30, 2023 about significant unobservable inputs (Level 3) used in the valuation of assets measured at fair value on a nonrecurring basis:

Financial instrument

Fair
Value

Valuation Technique

Significant
Unobservable Inputs

Range of Inputs

Individually evaluated loans, net of allowance for credit losses

51,537

Appraised value of collateral less estimated costs to sell

Estimated costs to sell

4-10%

OREO

Appraised value of property less estimated costs to sell

Estimated costs to sell

4-10%

Summarizes differences between fair value and principal balance for mortgage loans held for sale measure at fair value

The following table summarizes the differences between the fair value and the principal balance for mortgage loans held for sale measured at fair value as of June 30, 2023 and December 31, 2022:


	Aggregate Fair Value		Aggregate Unpaid Principal Balance		Difference
June 30, 2023
Mortgage loans held for sale measured at fair value	$	249,615	$	246,520	$	3,095



December 31, 2022
Mortgage loans held for sale measured at fair value	$	110,105	$	108,143	$	1,962

Assets and liabilities not measured and reported at fair value on a recurring basis or nonrecurring basis

The carrying amounts and estimated fair values of the Company’s financial instruments, including those assets and liabilities that are not measured and reported at fair value on a recurring basis or nonrecurring basis, were as follows as of the dates presented:


			Fair Value
As of June 30, 2023	Carrying Value		Level 1		Level 2		Level 3		Total
Financial assets
Cash and cash equivalents	$	946,899	$	946,899	$	—	$	—	$	946,899
Securities held to maturity	1,273,044		—		1,153,541		—		1,153,541
Securities available for sale	950,930		—		950,930		—		950,930
Loans held for sale	249,615		—		249,615		—		249,615
Loans, net	11,736,125		—		—		11,059,520		11,059,520
Mortgage servicing rights	87,432		—		—		125,055		125,055
Derivative instruments	38,746		—		38,746		—		38,746
Financial liabilities
Deposits	$	14,095,361	$	11,139,951	$	2,917,822	$	—	$	14,057,773
Short-term borrowings	257,305		257,305		—		—		257,305


Junior subordinated debentures	112,510		—		93,243		—		93,243
Subordinated notes	317,120		—		258,250		—		258,250
Derivative instruments	35,151		—		35,151		—		35,151


			Fair Value
As of December 31, 2022	Carrying Value		Level 1		Level 2		Level 3		Total
Financial assets
Cash and cash equivalents	$	575,992	$	575,992	$	—	$	—	$	575,992
Securities held to maturity	1,324,040		—		1,206,540		—		1,206,540
Securities available for sale	1,533,942		—		1,533,942		—		1,533,942
Loans held for sale	110,105		—		110,105		—		110,105
Loans, net	11,386,214		—		—		10,850,181		10,850,181
Mortgage servicing rights	84,448		—		—		122,454		122,454
Derivative instruments	38,047		—		38,047		—		38,047
Financial liabilities
Deposits	$	13,486,966	$	11,791,526	$	1,653,891	$	—	$	13,445,417
Short-term borrowings	712,232		712,232		—		—		712,232


Junior subordinated debentures	112,042		—		98,754		—		98,754
Subordinated notes	316,091		—		277,500		—		277,500
Derivative instruments	33,185		—		33,185		—		33,185

Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies (In Thousands) Nature of Operations: Renasant Corporation (referred to herein as the “Company”) owns and operates Renasant Bank (“Renasant Bank” or the “Bank”), Renasant Insurance, Inc., Park Place Capital Corporation and Continental Republic Capital, LLC (doing business as “Republic Business Credit”). Through its subsidiaries, the Company offers a diversified range of financial, wealth management, fiduciary and insurance services to its retail and commercial customers from offices located throughout the Southeast and offers factoring and asset-based lending on a nationwide basis. The Bank acquired Southeastern Commercial Finance, LLC (“SCF”), an asset-based lending company headquartered in Birmingham, Alabama, effective March 1, 2022. Prior to the end of the third quarter of 2022, all of SCF's assets were distributed to the Bank in connection with the conversion and integration of SCF into the Bank. In September 2022, the Bank formed Renasant Capital Funding Corporation (the “REIT”), which is intended to qualify as a real estate investment trust under the Internal Revenue Code of 1986, as amended. The REIT purchases from the Bank, either by assignment or participation, eligible loans collateralized by real estate located in Georgia and Florida, which allows for more effective monitoring of the loans and better managing liquidity related to such real estate assets. The arrangement provides tax benefits in certain states in which the Company operates. The Bank acquired Republic Business Credit, a factoring and asset-based lending company headquartered in New Orleans, Louisiana (“RBC”), effective December 30, 2022. Basis of Presentation: The accompanying unaudited consolidated financial statements of the Company and its subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. For further information regarding the Company’s significant accounting policies, refer to the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 filed with the Securities and Exchange Commission on February 24, 2023. Use of Estimates: The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates, and such differences may be material. Impact of Recently-Issued Accounting Standards and Pronouncements: In March 2023, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2023-02, “Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method” (“ASU 2023-02”), which permits reporting entities to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. ASU 2023-02 will be effective on January 1, 2024. Early adoption is permitted, including in an interim period. The adoption of this accounting pronouncement will have no impact on the Company’s historical financial statements but could influence the Company’s decisions with respect to investments in certain tax credits prospectively.

Net Income Per Common Share

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Net Income Per Common Share

(In Thousands, Except Share Data)

Basic net income per common share is calculated by dividing net income by the weighted-average number of common shares outstanding for the period. Diluted net income per common share reflects the pro forma dilution of shares outstanding, assuming outstanding service-based restricted stock awards fully vested, calculated in accordance with the treasury method. Basic and diluted net income per common share calculations are as follows for the periods presented:


	Three Months Ended
	June 30,
	2023		2022
Basic
Net income applicable to common stock	$	28,643	$	39,678
Average common shares outstanding	56,107,881		55,906,755
Net income per common share - basic	$	0.51	$	0.71
Diluted
Net income applicable to common stock	$	28,643	$	39,678
Average common shares outstanding	56,107,881		55,906,755
Effect of dilutive stock-based compensation	287,772		276,090
Average common shares outstanding - diluted	56,395,653		56,182,845
Net income per common share - diluted	$	0.51	$	0.71


	Six Months Ended
	June 30,
	2023		2022
Basic
Net income applicable to common stock	$	74,721	$	73,225
Average common shares outstanding	56,058,585		55,858,243
Net income per common share - basic	$	1.33	$	1.31
Diluted
Net income applicable to common stock	$	74,721	$	73,225
Average common shares outstanding	56,058,585		55,858,243
Effect of dilutive stock-based compensation	271,710		272,519
Average common shares outstanding - diluted	56,330,295		56,130,762
Net income per common share - diluted	$	1.33	$	1.30


	Three Months Ended
	June 30,
	2023	2022
Number of shares	179,226	213,953


	Six Months Ended
	June 30,
	2023	2022
Number of shares	182,226	214,203

Income Taxes (Tables)

6 Months Ended

Jun. 30, 2023

Income Tax Disclosure [Abstract]

Significant components of the company's deferred tax assets and liabilities


	June 30,		December 31,
	2023		2022
Deferred tax assets
Allowance for credit losses	$	52,475	$	52,551
Loans	2,173		2,518
Deferred compensation	12,449		14,447
Net unrealized losses on securities	63,874		70,999
Impairment of assets	220		316
Net operating loss carryforwards	151		497
Investment in partnerships	1,366		1,164

Lease liabilities under operating leases	14,004		14,641
Other	5,897		3,523
Total deferred tax assets	152,609		160,656


Deferred tax liabilities




Fixed assets	10,340		10,342
Mortgage servicing rights	20,386		19,624
Junior subordinated debt	1,827		1,948
Intangibles	2,539		2,702
Lease right-of-use asset	13,363		14,018
Other	1,173		1,614
Total deferred tax liabilities	49,628		50,248
Net deferred tax assets	$	102,981	$	110,408

Mortgage Servicing Rights - Changes in the Company's MSRs (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Changes in mortgage servicing rights
Balance at January 1, 2023	$ 84,448
Capitalization	7,717
Amortization	(4,733)
Balance at June 30, 2023	$ 87,432

Fair Value Measurements

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements

(In Thousands)

Fair Value Measurements and the Fair Level Hierarchy

Accounting Standards Codification (“ASC”) 820, “Fair Value Measurements and Disclosures,” provides guidance for using fair value to measure assets and liabilities and establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to a valuation based on quoted prices in active markets for identical assets and liabilities (Level 1), moderate priority to a valuation based on quoted prices in active markets for similar assets and liabilities and/or based on assumptions that are observable in the market (Level 2), and the lowest priority to a valuation based on assumptions that are not observable in the market (Level 3).

Recurring Fair Value Measurements

The Company carries certain assets and liabilities at fair value on a recurring basis in accordance with applicable standards. The Company’s recurring fair value measurements are based on the requirement to carry such assets and liabilities at fair value or the Company’s election to carry certain eligible assets and liabilities at fair value. Assets and liabilities that are required to be

carried at fair value on a recurring basis include securities available for sale and derivative instruments. The Company has elected to carry mortgage loans held for sale at fair value on a recurring basis as permitted under the guidance in ASC 825, “Financial Instruments” (“ASC 825”).

The following methods and assumptions are used by the Company to estimate the fair values of the Company’s financial assets and liabilities that are measured on a recurring basis:

Securities available for sale: Securities available for sale consist primarily of debt securities, such as obligations of U.S. Government agencies and corporations, obligations of states and political subdivisions and mortgage-backed securities. Where quoted market prices in active markets are available, securities are classified within Level 1 of the fair value hierarchy. If quoted prices from active markets are not available, fair values are based on quoted market prices for similar instruments traded in active markets, quoted market prices for identical or similar instruments traded in markets that are not active, or model-based valuation techniques where all significant assumptions are observable in the market. Such instruments are classified within Level 2 of the fair value hierarchy. When assumptions used in model-based valuation techniques are not observable in the market, the assumptions used by management reflect estimates of assumptions used by other market participants in determining fair value. When there is limited transparency around the inputs to the valuation, the instruments are classified within Level 3 of the fair value hierarchy.

Derivative instruments: Most of the Company’s derivative contracts are extensively traded in over-the-counter markets and are valued using discounted cash flow models which incorporate observable market based inputs including current market interest rates, credit spreads, and other factors. Such instruments are categorized within Level 2 of the fair value hierarchy and include interest rate swaps, interest rate collars and other interest rate contracts such as interest rate caps and/or floors. The Company’s interest rate lock commitments are valued using current market prices for mortgage-backed securities with similar characteristics, adjusted for certain factors including servicing and risk. The value of the Company’s forward commitments is based on current prices for securities backed by similar types of loans. Because these assumptions are observable in active markets, the Company’s interest rate lock commitments and forward commitments are categorized within Level 2 of the fair value hierarchy.

Mortgage loans held for sale in loans held for sale: Mortgage loans held for sale are primarily agency loans which trade in active secondary markets. The fair value of these instruments is derived from current market pricing for similar loans, adjusted for differences in loan characteristics, including servicing and risk. Because the valuation is based on external pricing of similar instruments, mortgage loans held for sale are classified within Level 2 of the fair value hierarchy.

The following tables present assets and liabilities that are measured at fair value on a recurring basis as of the dates presented:


	Level 1		Level 2		Level 3		Totals
June 30, 2023
Financial assets:

Securities available for sale	$	—	$	950,930	$	—	$	950,930
Derivative instruments	—		38,746		—		38,746
Mortgage loans held for sale in loans held for sale	—		249,615		—		249,615
Total financial assets	$	—	$	1,239,291	$	—	$	1,239,291
Financial liabilities:
Derivative instruments:	$	—	$	35,151	$	—	$	35,151


	Level 1		Level 2		Level 3		Totals
December 31, 2022
Financial assets:

Securities available for sale	$	—	$	1,533,942	$	—	$	1,533,942

Derivative instruments	—		38,047		—		38,047
Mortgage loans held for sale in loans held for sale	—		110,105		—		110,105
Total financial assets	$	—	$	1,682,094	$	—	$	1,682,094
Financial liabilities:
Derivative instruments	$	—	$	33,185	$	—	$	33,185

The Company reviews fair value hierarchy classifications on a quarterly basis. Changes in the Company’s ability to observe inputs to the valuation may cause reclassification of certain assets or liabilities within the fair value hierarchy. Transfers between levels of the hierarchy are deemed to have occurred at the end of period. There were no such transfers between levels of the fair value hierarchy during the six months ended June 30, 2023.

For the six months ended June 30, 2023 and 2022, respectively, there were no gains or losses included in earnings that were attributable to the change in unrealized gains or losses related to assets or liabilities held at the end of each respective period that were measured on a recurring basis using significant unobservable inputs.

Nonrecurring Fair Value Measurements

Certain assets and liabilities may be recorded at fair value on a nonrecurring basis. These nonrecurring fair value adjustments typically are a result of the application of the lower of cost or market accounting or a write-down occurring during the period. The following tables provide the fair value measurement for assets measured at fair value on a nonrecurring basis that were still held on the Consolidated Balance Sheets as of the dates presented and the level within the fair value hierarchy each is classified:


June 30, 2023	Level 1		Level 2		Level 3		Totals
Individually evaluated loans, net of allowance for credit losses	$	—	$	—	$	51,537	$	51,537
OREO	—		—		37		37

Total	$	—	$	—	$	51,574	$	51,574


December 31, 2022	Level 1		Level 2		Level 3		Totals
Individually evaluated loans, net of allowance for credit losses	$	—	$	—	$	14,732	$	14,732
OREO	—		—		1,763		1,763

Total	$	—	$	—	$	16,495	$	16,495

The following methods and assumptions are used by the Company to estimate the fair values of the Company’s financial assets measured on a nonrecurring basis:

Individually evaluated loans: Individually evaluated loans are reviewed and evaluated for credit losses on at least a quarterly basis for additional impairment and adjusted accordingly, taking into account the fair value of the collateral less estimated selling costs. Collateral may be real estate and/or business assets including but not limited to equipment, inventory and accounts receivable. The fair value of real estate is determined based on appraisals by qualified licensed appraisers. The fair value of the business assets is generally based on amounts reported on the business’s financial statements. Appraised and reported values may be adjusted based on changes in market conditions from the time of valuation and management’s knowledge of the client and the client’s business. Since not all valuation inputs are observable, these nonrecurring fair value determinations are classified as Level 3. Individually evaluated loans that were measured or re-measured at fair value had a carrying value of $63,680 and $18,288 at June 30, 2023 and December 31, 2022, respectively, and a specific reserve for these loans of $12,143 and $3,556 was included in the allowance for credit losses as of such dates.

Other real estate owned: OREO is comprised of commercial and residential real estate obtained in partial or total satisfaction of loan obligations. OREO acquired in settlement of indebtedness is recorded at the fair value of the real estate less estimated costs to sell. Subsequently, it may be necessary to record nonrecurring fair value adjustments for declines in fair value. Fair value,

when recorded, is determined based on appraisals by qualified licensed appraisers and adjusted for management’s estimates of costs to sell. Accordingly, values for OREO are classified as Level 3.

The following table presents OREO measured at fair value on a nonrecurring basis that was still held on the Consolidated Balance Sheets as of the dates presented:


	June 30, 2023		December 31, 2022







Carrying amount prior to remeasurement	$	45	$	1,842
Impairment recognized in results of operations	(8)		(79)
Fair value	$	37	$	1,763

Mortgage servicing rights: Mortgage servicing rights are carried at the lower of amortized cost or fair value. Fair value is determined using an income approach with various assumptions including expected cash flows, market discount rates, prepayment speeds, servicing costs, and other factors. Because these factors are not all observable and include management’s assumptions, mortgage servicing rights are classified within Level 3 of the fair value hierarchy. Mortgage servicing rights were carried at amortized cost at June 30, 2023 and December 31, 2022. There were no valuation adjustments on MSRs during the six months ended June 30, 2023 or 2022.

The following table presents information as of June 30, 2023 about significant unobservable inputs (Level 3) used in the valuation of assets measured at fair value on a nonrecurring basis:

Financial instrument

Fair
Value

Valuation Technique

Significant
Unobservable Inputs

Range of Inputs

Individually evaluated loans, net of allowance for credit losses

51,537

Appraised value of collateral less estimated costs to sell

Estimated costs to sell

4-10%

OREO

Appraised value of property less estimated costs to sell

Estimated costs to sell

4-10%

Fair Value Option

The Company has elected to measure all mortgage loans held for sale at fair value under the fair value option as permitted under ASC 825. Electing to measure these assets at fair value reduces certain timing differences and better matches the changes in fair value of the loans with changes in the fair value of derivative instruments used to economically hedge them.

A net gain of $1,133 and net loss of $9,528 resulting from fair value changes of these mortgage loans were recorded in income during the six months ended June 30, 2023 and 2022, respectively. The amount does not reflect changes in fair values of related derivative instruments used to hedge exposure to market-related risks associated with these mortgage loans. The change in fair value of both mortgage loans held for sale and the related derivative instruments are recorded in “Mortgage banking income” in the Consolidated Statements of Income.

The Company’s valuation of mortgage loans held for sale incorporates an assumption for credit risk; however, given the short-term period that the Company holds these loans, valuation adjustments attributable to instrument-specific credit risk is nominal. Interest income on mortgage loans held for sale measured at fair value is accrued as it is earned based on contractual rates and is reflected in loan interest income on the Consolidated Statements of Income.

The following table summarizes the differences between the fair value and the principal balance for mortgage loans held for sale measured at fair value as of June 30, 2023 and December 31, 2022:


	Aggregate Fair Value		Aggregate Unpaid Principal Balance		Difference
June 30, 2023
Mortgage loans held for sale measured at fair value	$	249,615	$	246,520	$	3,095



December 31, 2022
Mortgage loans held for sale measured at fair value	$	110,105	$	108,143	$	1,962

Fair Value of Financial Instruments


			Fair Value
As of June 30, 2023	Carrying Value		Level 1		Level 2		Level 3		Total
Financial assets
Cash and cash equivalents	$	946,899	$	946,899	$	—	$	—	$	946,899
Securities held to maturity	1,273,044		—		1,153,541		—		1,153,541
Securities available for sale	950,930		—		950,930		—		950,930
Loans held for sale	249,615		—		249,615		—		249,615
Loans, net	11,736,125		—		—		11,059,520		11,059,520
Mortgage servicing rights	87,432		—		—		125,055		125,055
Derivative instruments	38,746		—		38,746		—		38,746
Financial liabilities
Deposits	$	14,095,361	$	11,139,951	$	2,917,822	$	—	$	14,057,773
Short-term borrowings	257,305		257,305		—		—		257,305


Junior subordinated debentures	112,510		—		93,243		—		93,243
Subordinated notes	317,120		—		258,250		—		258,250
Derivative instruments	35,151		—		35,151		—		35,151


			Fair Value
As of December 31, 2022	Carrying Value		Level 1		Level 2		Level 3		Total
Financial assets
Cash and cash equivalents	$	575,992	$	575,992	$	—	$	—	$	575,992
Securities held to maturity	1,324,040		—		1,206,540		—		1,206,540
Securities available for sale	1,533,942		—		1,533,942		—		1,533,942
Loans held for sale	110,105		—		110,105		—		110,105
Loans, net	11,386,214		—		—		10,850,181		10,850,181
Mortgage servicing rights	84,448		—		—		122,454		122,454
Derivative instruments	38,047		—		38,047		—		38,047
Financial liabilities
Deposits	$	13,486,966	$	11,791,526	$	1,653,891	$	—	$	13,445,417
Short-term borrowings	712,232		712,232		—		—		712,232


Junior subordinated debentures	112,042		—		98,754		—		98,754
Subordinated notes	316,091		—		277,500		—		277,500
Derivative instruments	33,185		—		33,185		—		33,185

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation: The accompanying unaudited consolidated financial statements of the Company and its subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. For further information regarding the Company’s significant accounting policies, refer to the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 filed with the Securities and Exchange Commission on February 24, 2023.
Use of Estimates	Use of Estimates: The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates, and such differences may be material.
Impact of Recently-Issued Accounting Standards and Pronouncements	Impact of Recently-Issued Accounting Standards and Pronouncements: In March 2023, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2023-02, “Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method” (“ASU 2023-02”), which permits reporting entities to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. ASU 2023-02 will be effective on January 1, 2024. Early adoption is permitted, including in an interim period. The adoption of this accounting pronouncement will have no impact on the Company’s historical financial statements but could influence the Company’s decisions with respect to investments in certain tax credits prospectively.

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 28,643	$ 39,678	$ 74,721	$ 73,225
Securities available for sale:
Unrealized holding losses on securities	(15,930)	(56,958)	(399)	(157,420)
Reclassification adjustment for losses realized in net income	16,816	0	16,816	0
Amortization of unrealized holding losses (gains) on securities transferred to the held to maturity category	2,252	(164)	4,580	(238)
Total securities available for sale	3,138	(57,122)	20,997	(157,658)
Derivative instruments:
Unrealized holding (losses) gains on derivative instruments	(2,361)	6,262	(3,593)	12,641
Total derivative instruments	(2,361)	6,262	(3,593)	12,641
Defined benefit pension and post-retirement benefit plans:
Amortization of net actuarial loss recognized in net periodic pension cost	86	31	172	62
Total defined benefit pension and post-retirement benefit plans	86	31	172	62
Other comprehensive income (loss), net of tax	863	(50,829)	17,576	(144,955)
Comprehensive income (loss)	$ 29,506	$ (11,151)	$ 92,297	$ (71,730)

Regulatory Matters - Guidelines Governing the Classification of Capital Tiers (Details)	Jun. 30, 2023
Banking and Thrift, Interest [Abstract]
Tier 1 Capital to Average Assets (Leverage), Well capitalized	0.05
Tier 1 Capital to Average Assets (Leverage), Adequately capitalized	0.04
Tier 1 Capital to Average Assets (Leverage), Undercapitalized	4.00%
Tier 1 Capital to Average Assets (Leverage), Significantly undercapitalized	3.00%
Common Equity Tier 1 to Risk-Weighted Assets, Well capitalized	6.50%
Common Equity Tier 1 to Risk-Weighted Assets, Adequately capitalized	4.50%
Common Equity Tier 1 to Risk-Weighted Assets, Undercapitalized	4.50%
Common Equity Tier 1 to Risk-Weighted Assets, Significantly undercapitalized	3.00%
Tier 1 Capital to Risk-Weighted Assets, Well capitalized	0.08
Tier 1 Capital to Risk-Weighted Assets, Adequately capitalized	0.06
Tier 1 Capital to Risk-Weighted Assets, Undercapitalized	6.00%
Tier 1 Capital to Risk-Weighted Assets, Significantly undercapitalized	4.00%
Total Capital to Risk-Weighted Assets, Well capitalized	0.10
Total Capital to Risk-Weighted Assets, Adequately capitalized	0.08
Total Capital to Risk-Weighted Assets, Undercapitalized	8.00%
Total Capital to Risk-Weighted Assets, Significantly undercapitalized	6.00%
Critically undercapitalized	2.00%

Employee Benefit and Deferred Compensation Plans - Summary of the Changes in Restricted Stock (Details)	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Performance shares
Performance-Based Restricted Stock
Nonvested at beginning of period (shares) \| shares	155,838
Awarded (shares) \| shares	81,867
Vested (shares) \| shares	0
Cancelled (shares) \| shares	0
Nonvested at end of period (shares) \| shares	237,705
Weighted Average Grant-Date Fair Value
Nonvested at beginning balance (usd per share) \| $ / shares	$ 36.23
Awarded (usd per share) \| $ / shares	35.57
Vested (usd per share) \| $ / shares	0
Cancelled (usd per share) \| $ / shares	0
Nonvested at end balance (usd per share) \| $ / shares	$ 36.01
Restricted stock
Performance-Based Restricted Stock
Nonvested at beginning of period (shares) \| shares	680,403
Awarded (shares) \| shares	334,467
Vested (shares) \| shares	(199,122)
Cancelled (shares) \| shares	(28,999)
Nonvested at end of period (shares) \| shares	786,749
Weighted Average Grant-Date Fair Value
Nonvested at beginning balance (usd per share) \| $ / shares	$ 36.23
Awarded (usd per share) \| $ / shares	35.52
Vested (usd per share) \| $ / shares	35.37
Cancelled (usd per share) \| $ / shares	35.49
Nonvested at end balance (usd per share) \| $ / shares	$ 36.17

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Derivative Instruments - Fair Value Hedge Impact on Balance Sheet (Details) - Long-term Debt - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Derivative [Line Items]
Carrying Amount of the Hedged Liability	$ 79,550	$ 78,881
Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of the Hedged Liability	$ 19,207	$ 19,789

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2023	Jul. 31, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-13253
Entity Registrant Name	RENASANT CORP
Entity Incorporation, State or Country Code	MS
Entity Tax Identification Number	64-0676974
Entity Address, Address Line One	209 Troy Street,
Entity Address, City or Town	Tupelo,
Entity Address, State or Province	MS
Entity Address, Postal Zip Code	38804-4827
City Area Code	662
Local Phone Number	680-1001
Title of 12(b) Security	Common stock, $5.00 par value per share
Trading Symbol	RNST
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		56,136,863
Entity Central Index Key	0000715072
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31

Fair Value Measurements - OREO Measured at Fair Value on a Nonrecurring Basis (Details) - Level 3 - Fair Value, measurements, nonrecurring - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
OREO measured at fair value on a nonrecurring basis
Carrying amount prior to remeasurement	$ 45	$ 1,842
Impairment recognized in results of operations	(8)	(79)
Fair value	$ 37	$ 1,763

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for credit losses - held to maturity securities	$ 32	$ 32
Securities held to maturity	$ 1,153,541	$ 1,206,540
Preferred stock, par value (usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (shares)	5,000,000	5,000,000
Preferred stock, shares issued (shares)	0	0
Preferred stock, shares outstanding (shares)	0	0
Common stock, par value (usd per share)	$ 5.00	$ 5.00
Common stock, shares authorized (shares)	150,000,000	150,000,000
Common stock, shares issued (shares)	59,296,725	59,296,725
Common stock, shares outstanding (shares)	56,132,478	55,953,104
Treasury stock (in shares)	3,164,247	3,343,621

Employee Benefit and Deferred Compensation Plans (Tables)

6 Months Ended

Jun. 30, 2023

Retirement Benefits [Abstract]

Plan expense for non-contributory benefit pension plan and post-retirement health and life plans



	Pension Benefits				Other Benefits
	Three Months Ended				Three Months Ended
	June 30,				June 30,
	2023		2022			2023		2022
Service cost	$	—	$	—		$	—	$	1
Interest cost	248		185			5		3
Expected return on plan assets	(309)		(421)			—		—

Recognized actuarial loss (gain)	131		61			(16)		(19)

Net periodic benefit cost (return)	$	70	$	(175)		$	(11)	$	(15)


	Pension Benefits				Other Benefits
	Six Months Ended				Six Months Ended
	June 30,				June 30,
	2023		2022			2023		2022
Service cost	$	—	$	—		$	—	$	2
Interest cost	497		369			11		6
Expected return on plan assets	(618)		(842)			—		—

Recognized actuarial loss (gain)	262		122			(31)		(38)

Net periodic benefit cost (return)	$	141	$	(351)		$	(20)	$	(30)

Summary of the changes in stock options and restricted stock

The following table summarizes the changes in restricted stock as of and for the six months ended June 30, 2023:


	Performance-Based Restricted Stock	Weighted Average Grant-Date Fair Value		Time-Based Restricted Stock	Weighted Average Grant-Date Fair Value
Nonvested at beginning of period	155,838	$	36.23	680,403	$	36.23
Awarded	81,867	35.57		334,467	35.52
Vested	—	—		(199,122)	35.37
Cancelled	—	—		(28,999)	35.49
Nonvested at end of period	237,705	$	36.01	786,749	$	36.17

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income taxes	$ 6,634	$ 10,857	$ 17,956	$ 18,792

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Regulatory Matters - Narrative (Details)	Jan. 01, 2022
Banking and Thrift, Interest [Abstract]
Regulatory capital, transitional period to phase out capital benefit	3 years

Loans - Narrative (Details) $ in Millions	6 Months Ended
Loans - Narrative (Details) $ in Millions	Jun. 30, 2023 USD ($)
Loans and Allowance for Loan Losses (Additional Textual) [Abstract]
Mortgage and commercial loans discontinued past due period	90 days
Consumer and other retail loans charged-off past due period	120 days
Unused commitments	$ 1.6
Internal Investment Grade
Loans and Allowance for Loan Losses (Additional Textual) [Abstract]
Financing receivable, credit quality risk rating grade	10
Special Mention
Loans and Allowance for Loan Losses (Additional Textual) [Abstract]
Financing receivable, credit quality risk rating grade	70
Minimum \| Internal Investment Grade
Loans and Allowance for Loan Losses (Additional Textual) [Abstract]
Financing receivable, credit quality risk rating grade	10
Minimum \| Pass
Loans and Allowance for Loan Losses (Additional Textual) [Abstract]
Financing receivable, credit quality risk rating grade	10
Minimum \| Substandard
Loans and Allowance for Loan Losses (Additional Textual) [Abstract]
Financing receivable, credit quality risk rating grade	80
Maximum \| Internal Investment Grade
Loans and Allowance for Loan Losses (Additional Textual) [Abstract]
Financing receivable, credit quality risk rating grade	95
Maximum \| Pass
Loans and Allowance for Loan Losses (Additional Textual) [Abstract]
Financing receivable, credit quality risk rating grade	60
Maximum \| Substandard
Loans and Allowance for Loan Losses (Additional Textual) [Abstract]
Financing receivable, credit quality risk rating grade	95

Allowance for Credit Losses - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Receivables [Abstract]
Interest receivable	$ 51,410		$ 51,410		$ 49,850
Deferred interest, allowance for credit loss	1,231		1,231		$ 1,248
Provision for credit losses on loans	$ 3,000	$ 2,000	$ 10,960	$ 3,500
Supportable period			2 years

Derivative Instruments

6 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

(In Thousands)

The Company uses certain derivative instruments to meet the needs of customers as well as to manage the interest rate risk associated with certain transactions.

Non-hedge derivatives

The Company enters into derivative instruments that are not designated as hedging instruments to help its commercial customers manage their exposure to interest rate fluctuations. To mitigate the interest rate risk associated with these customer contracts, the Company enters into an offsetting derivative contract position. The Company manages its credit risk, or potential risk of default by its commercial customers, through credit limit approval and monitoring procedures.

The Company enters into interest rate lock commitments with its customers to mitigate the interest rate risk associated with the commitments to fund fixed-rate and adjustable-rate residential mortgage loans. The Company also enters into forward commitments to sell residential mortgage loans to secondary market investors.

The following table provides a summary of the Company’s derivatives not designated as hedging instruments as of the dates presented:


	Balance Sheet	June 30, 2023				December 31, 2022
	Location	Notional Amount		Fair Value		Notional Amount		Fair Value
Derivative assets:
Interest rate contracts	Other Assets	$	510,641	$	11,483	$	258,646	$	11,354
Interest rate lock commitments	Other Assets	86,727		1,712		92,901		1,231
Forward commitments	Other Assets	256,000		1,787		84,000		484
Totals		$	853,368	$	14,982	$	435,547	$	13,069
Derivative liabilities:
Interest rate contracts	Other Liabilities	$	436,028	$	11,483	$	258,646	$	11,354
Interest rate lock commitments	Other Liabilities	8,422		27		19,488		98
Forward commitments	Other Liabilities	25,000		78		73,000		1,198
Totals		$	469,450	$	11,588	$	351,134	$	12,650

Gains and losses included in the Consolidated Statements of Income related to the Company’s derivative financial instruments were as follows as of the dates presented:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Interest rate contracts:
Included in interest income on loans	$	1,804	$	390	$	3,546	$	444

Interest rate lock commitments:
Included in mortgage banking income	(1,686)		3,404		551		(2,420)
Forward commitments
Included in mortgage banking income	1,041		(10,607)		2,424		(419)
Total	$	1,159	$	(6,813)	$	6,521	$	(2,395)

Derivatives designated as cash flow hedges

Cash flow hedge relationships mitigate exposure to the variability of future cash flow or other forecasted transactions. The Company uses both interest rate swap contracts and interest rate collars in an effort to manage future interest rate exposure on borrowings. The swap hedging strategy converts the variable interest rate on the forecasted borrowings to a fixed interest rate. The collar hedging strategy stabilizes interest rate fluctuation by setting both a floor and a cap. The Company entered into an interest rate collar in June 2022 with a 2.25% floor and 4.57% cap. The Company entered into a second interest rate collar in October 2022 with a 2.75% floor and 4.75% cap. As of June 30, 2023, the Company is hedging its exposure to the variability of future cash flows through 2032 and a portion of these hedges are forward starting.

The following table provides a summary of the Company’s derivatives designated as cash flow hedges as of the dates presented:


	Balance Sheet	June 30, 2023				December 31, 2022
	Location	Notional Amount		Fair Value		Notional Amount		Fair Value
Derivative assets:
Interest rate swaps	Other Assets	$	330,000	$	23,764	$	130,000	$	24,514
Interest rate collars	Other Assets	—		—		200,000		464
Total		$	330,000	$	23,764	$	330,000	$	24,978
Derivative liabilities:
Interest rate swaps	Other Liabilities	$	—	$	—	$	—	$	—
Interest rate collars	Other Liabilities	450,000		4,355		250,000		746
Totals		$	450,000	$	4,355	$	250,000	$	746

Changes in fair value of the cash flow hedges are, to the extent that the hedging relationship is effective, recorded as other comprehensive income and are subsequently recognized in earnings at the same time that the hedged item is recognized in earnings. The ineffective portions of the changes in fair value of the hedging instruments are immediately recognized in earnings. The assessment of the effectiveness of the hedging relationship is evaluated under the hypothetical derivative method. There were no ineffective portions for the six months ended June 30, 2023 or 2022. The impact on other comprehensive income for the six months ended June 30, 2023 and 2022 is discussed in Note 12, “Other Comprehensive Income (Loss).”

Derivatives designated as fair value hedges

Fair value hedges protect against changes in the fair value of an asset, liability, or firm commitment. The Company enters into interest rate swap agreements to manage interest rate exposure on certain of the Company’s fixed-rate subordinated notes. The agreements convert the fixed interest rates to variable interest rates.

The following table provides a summary of the Company's derivatives designated as fair value hedges as of the dates presented:


	Balance Sheet	June 30, 2023				December 31, 2022
	Location	Notional Amount		Fair Value		Notional Amount		Fair Value



Derivative liabilities:
Interest rate swaps	Other Liabilities	$	300,000	$	19,208	$	100,000	$	19,789

The following table presents the effects of the Company’s fair value hedge relationships on the Consolidated Statements of Income for the periods presented:


		Amount of Gain (Loss) Recognized in Income
	Income Statement	Three Months Ended June 30,				Six Months Ended June 30,
	Location	2023		2022		2023		2022
Derivative liabilities:
Interest rate swaps - subordinated notes	Interest Expense	$	(1,939)	$	(3,805)	$	582	$	(10,148)

Derivative liabilities - hedged items:
Interest rate swaps - subordinated notes	Interest Expense	$	1,939	$	3,805	$	(582)	$	10,148

The following table presents the amounts that were recorded in the Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges as of the dates presented:


	Carrying Amount of the Hedged Liability				Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of the Hedged Liability
Balance Sheet Location	June 30, 2023		December 31, 2022		June 30, 2023		December 31, 2022
Long-term debt	$	79,550	$	78,881	$	19,207	$	19,789

Offsetting

Certain financial instruments, including derivatives, may be eligible for offset in the consolidated balance sheet when the “right of offset” exists or when the instruments are subject to an enforceable master netting agreement, which includes the right of the non-defaulting party or non-affected party to offset recognized amounts, including collateral posted with the counterparty, to determine a net receivable or net payable upon early termination of the agreement. Certain of the Company’s derivative instruments are subject to master netting agreements; however, the Company has not elected to offset such financial instruments in the Consolidated Balance Sheets. The following table presents the Company’s gross derivative positions as recognized in the Consolidated Balance Sheets as well as the net derivative positions, including collateral pledged to the extent the application of such collateral did not reduce the net derivative liability position below zero, had the Company elected to offset those instruments subject to an enforceable master netting agreement:


	Offsetting Derivative Assets				Offsetting Derivative Liabilities
	June 30, 2023		December 31, 2022		June 30, 2023		December 31, 2022
Gross amounts recognized	$	36,832	$	36,493	$	23,894	$	22,056
Gross amounts offset in the Consolidated Balance Sheets	—		—		—		—
Net amounts presented in the Consolidated Balance Sheets	36,832		36,493		23,894		22,056
Gross amounts not offset in the Consolidated Balance Sheets
Financial instruments	23,842		22,056		23,842		22,056
Financial collateral pledged	—		—		—		—
Net amounts	$	12,990	$	14,437	$	52	$	—

Loans - Summary of Amortized Cost Basis of Loan Modifications (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 5,959	$ 7,140
Financing receivable, excluding accrued interest, modified in period, to total financing receivables, percentage	0.05%	0.06%
Interest Rate Reduction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 9	$ 1,190
Term Extension
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	5,673	5,673
Payment Delay
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	277	277
Commercial, financial, agricultural
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 1,210	$ 1,210
Financing receivable, excluding accrued interest, modified in period, to total financing receivables, percentage	0.07%	0.07%
Commercial, financial, agricultural \| Interest Rate Reduction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 0	$ 0
Financing receivable, modified, weighted average interest rate decrease from modification	0.00%	0.00%
Commercial, financial, agricultural \| Term Extension
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 1,210	$ 1,210
Financing receivable, modified, weighted average interest rate decrease from modification	210.00%	210.00%
Commercial, financial, agricultural \| Payment Delay
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 0	$ 0
Financing receivable, modified, weighted average interest rate decrease from modification	0.00%	0.00%
Real estate – construction:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 4,366	$ 4,366
Financing receivable, excluding accrued interest, modified in period, to total financing receivables, percentage	0.32%	0.32%
Real estate – construction: \| Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 4,366	$ 4,366
Financing receivable, excluding accrued interest, modified in period, to total financing receivables, percentage	1.42%	1.42%
Real estate – construction: \| Interest Rate Reduction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 0	$ 0
Real estate – construction: \| Interest Rate Reduction \| Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 0	$ 0
Financing receivable, modified, weighted average interest rate decrease from modification	0.00%	0.00%
Real estate – construction: \| Term Extension
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 4,366	$ 4,366
Real estate – construction: \| Term Extension \| Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 4,366	$ 4,366
Financing receivable, modified, weighted average interest rate decrease from modification	470.00%	470.00%
Real estate – construction: \| Payment Delay
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 0	$ 0
Real estate – construction: \| Payment Delay \| Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 0	$ 0
Financing receivable, modified, weighted average interest rate decrease from modification	0.00%	0.00%
Real estate – 1-4 family mortgage:
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 9	$ 9
Financing receivable, excluding accrued interest, modified in period, to total financing receivables, percentage	0.00%	0.00%
Real estate – 1-4 family mortgage: \| Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 9	$ 9
Financing receivable, excluding accrued interest, modified in period, to total financing receivables, percentage	0.00%	0.00%
Real estate – 1-4 family mortgage: \| Interest Rate Reduction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 9	$ 9
Real estate – 1-4 family mortgage: \| Interest Rate Reduction \| Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 9	$ 9
Financing receivable, modified, weighted average interest rate decrease from modification	3.00%	3.00%
Real estate – 1-4 family mortgage: \| Term Extension
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 0	$ 0
Real estate – 1-4 family mortgage: \| Term Extension \| Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 0	$ 0
Financing receivable, modified, weighted average interest rate decrease from modification	0.00%	0.00%
Real estate – 1-4 family mortgage: \| Payment Delay
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 0	$ 0
Real estate – 1-4 family mortgage: \| Payment Delay \| Home equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 0	$ 0
Financing receivable, modified, weighted average interest rate decrease from modification	0.00%	0.00%
Real Estate - Commercial Mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 374	$ 1,555
Financing receivable, excluding accrued interest, modified in period, to total financing receivables, percentage	0.01%	0.03%
Real Estate - Commercial Mortgage \| Owner-occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 0	$ 155
Financing receivable, excluding accrued interest, modified in period, to total financing receivables, percentage	0.00%	0.01%
Real Estate - Commercial Mortgage \| Non-owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 0	$ 1,026
Financing receivable, excluding accrued interest, modified in period, to total financing receivables, percentage	0.00%	0.03%
Real Estate - Commercial Mortgage \| Land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 374	$ 374
Financing receivable, excluding accrued interest, modified in period, to total financing receivables, percentage	0.33%	0.33%
Real Estate - Commercial Mortgage \| Interest Rate Reduction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 0	$ 1,181
Financing receivable, modified, weighted average interest rate decrease from modification	3.00%	0.21%
Real Estate - Commercial Mortgage \| Interest Rate Reduction \| Owner-occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 0	$ 155
Financing receivable, modified, weighted average interest rate decrease from modification	0.00%	0.68%
Real Estate - Commercial Mortgage \| Interest Rate Reduction \| Non-owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 0	$ 1,026
Financing receivable, modified, weighted average interest rate decrease from modification	0.00%	0.12%
Real Estate - Commercial Mortgage \| Interest Rate Reduction \| Land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 0	$ 0
Financing receivable, modified, weighted average interest rate decrease from modification	0.00%	0.00%
Real Estate - Commercial Mortgage \| Term Extension
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 97	$ 97
Financing receivable, modified, weighted average interest rate decrease from modification	420.00%	420.00%
Real Estate - Commercial Mortgage \| Term Extension \| Owner-occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 0	$ 0
Financing receivable, modified, weighted average interest rate decrease from modification	0.00%	0.00%
Real Estate - Commercial Mortgage \| Term Extension \| Non-owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 0	$ 0
Financing receivable, modified, weighted average interest rate decrease from modification	0.00%	0.00%
Real Estate - Commercial Mortgage \| Term Extension \| Land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 97	$ 97
Financing receivable, modified, weighted average interest rate decrease from modification	840.00%	840.00%
Real Estate - Commercial Mortgage \| Payment Delay
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 277	$ 277
Financing receivable, modified, weighted average interest rate decrease from modification	300.00%	300.00%
Real Estate - Commercial Mortgage \| Payment Delay \| Owner-occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 0	$ 0
Financing receivable, modified, weighted average interest rate decrease from modification	0.00%	0.00%
Real Estate - Commercial Mortgage \| Payment Delay \| Non-owner occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 0	$ 0
Financing receivable, modified, weighted average interest rate decrease from modification	0.00%	0.00%
Real Estate - Commercial Mortgage \| Payment Delay \| Land development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, excluding accrued interest, modification period	$ 277	$ 277
Financing receivable, modified, weighted average interest rate decrease from modification	300.00%	300.00%