FIRST BANCSHARES INC /MS/, 10-Q filed on 11/8/2024
Quarterly Report
v3.24.3
Cover - shares
 9 Months Ended
Sep. 30, 2024
Nov. 01, 2024
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Sep. 30, 2024  
Document Transition Report false  
Entity File Number 001-42107  
Entity Registrant Name THE FIRST BANCSHARES, INC.  
Entity Incorporation, State or Country Code MS  
Entity Tax Identification Number 64-0862173  
Entity Address, Address Line One 6480 U.S. Highway 98 West, Suite A  
Entity Address, City or Town Hattiesburg  
Entity Address, State or Province MS  
Entity Address, Postal Zip Code 39402  
City Area Code 601  
Local Phone Number 268-8998  
Title of 12(b) Security Common Stock  
Trading Symbol FBMS  
Security Exchange Name NYSE  
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 (in shares)   31,199,099
Entity Central Index Key 0000947559  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2024  
Document Fiscal Period Focus Q3  
Amendment Flag false  
v3.24.3
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
ASSETS    
Cash and due from banks $ 127,515 $ 224,199
Interest-bearing deposits with banks 86,620 130,948
Total cash and cash equivalents 214,135 355,147
Securities available-for-sale, at fair value (amortized cost: $1,151,663 - 2024; $1,161,172 - 2023; allowance for credit losses: $0) 1,060,014 1,039,322
Securities held to maturity, net of allowance for credit losses of $0 (fair value: $574,750 - 2024; $615,944 - 2023) 602,328 654,539
Other securities 52,386 40,797
Total securities 1,714,728 1,734,658
Loans held for sale 2,987 2,914
Loans held for investment 5,318,590 5,170,042
Allowance for credit losses (55,700) (54,032)
Net loans held for investment 5,262,890 5,116,010
Interest receivable 33,384 33,300
Premises and equipment 170,570 174,309
Operating lease right-of-use assets 5,964 6,387
Finance lease right-of-use assets 1,118 1,466
Cash surrender value of bank-owned life insurance 136,579 134,249
Goodwill 272,520 272,520
Other real estate owned 7,314 8,320
Other assets 144,266 160,065
Total assets 7,966,455 7,999,345
Deposits:    
Noninterest-bearing 1,796,746 1,849,013
Interest-bearing 4,763,966 4,613,859
Total deposits 6,560,712 6,462,872
Interest payable 13,720 22,702
Borrowed funds 207,500 390,000
Subordinated debentures 123,645 123,386
Operating lease liabilities 6,131 6,550
Finance lease liabilities 1,602 1,739
Allowance for credit losses on off-balance sheet credit exposures 2,075 2,075
Other liabilities 39,387 40,987
Total liabilities 6,954,772 7,050,311
Shareholders’ equity:    
Common stock, par value $1 per share, 80,000,000 shares authorized; 32,450,440 shares issued at September 30, 2024, and par value $1 per share, 80,000,000 shares authorized; 32,338,983 shares issued at December 31, 2023 32,450 32,339
Additional paid-in capital 776,731 775,232
Retained earnings 335,689 300,150
Accumulated other comprehensive (loss) (92,076) (117,576)
Treasury stock, at cost, 1,249,607 shares at September 30, 2024 and at December 31, 2023 (41,111) (41,111)
Total shareholders’ equity 1,011,683 949,034
Total liabilities and shareholders’ equity $ 7,966,455 $ 7,999,345
v3.24.3
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
Sep. 30, 2024
Dec. 31, 2023
Statement of Financial Position [Abstract]    
Securities available-for-sale, amortized cost $ 1,151,663,000 $ 1,161,172,000
Credit loss recognized 0 0
Securities held-to-maturity, allowance for credit losses 0 0
Securities held-to-maturity $ 574,750,000 $ 615,944,000
Common stock, par value (in dollars per share) $ 1 $ 1
Common stock, shares authorized (in shares) 80,000,000 80,000,000
Common stock, shares issued (in shares) 32,450,440 32,338,983
Treasury stock (in shares) 1,249,607 1,249,607
v3.24.3
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest and dividend income:        
Interest and fees on loans $ 82,131 $ 74,626 $ 239,266 $ 216,949
Interest and dividends on securities:        
Taxable interest and dividends 8,064 7,685 25,234 24,311
Tax exempt interest 2,925 2,929 8,836 8,825
Interest on federal funds sold and interest-bearing deposits in other banks 441 441 2,915 2,128
Total interest income 93,561 85,681 276,251 252,213
Interest expense:        
Interest on deposits 29,979 19,572 88,855 46,611
Interest on borrowed funds 4,568 5,405 13,247 13,942
Total interest expense 34,547 24,977 102,102 60,553
Net interest income 59,014 60,704 174,149 191,660
Provision for credit losses, LHFI 1,000 1,000 2,650 12,500
Provision for credit losses, OBSC exposures 0 0 0 750
Net interest income after provision for credit losses 58,014 59,704 171,499 178,410
Non-interest income:        
Service charges on deposit accounts 3,709 3,646 10,410 10,728
Gain (loss) on securities 225 2 191 (46)
(Loss) gain on sale of premises and equipment (344) (104) (181) 559
Government awards/grants 0 6,197 0 6,197
Other 8,652 9,583 27,820 26,921
Total non-interest income 12,242 19,324 38,240 44,359
Non-interest expense:        
Salaries and employee benefits 25,131 22,807 74,684 69,695
Occupancy and equipment 5,659 5,343 16,863 15,680
Acquisition expense 2,592 588 2,952 8,482
Other 13,012 18,986 39,409 46,436
Total non-interest expense 46,394 47,724 133,908 140,293
Income before income taxes 23,862 31,304 75,831 82,476
Income tax expense 5,291 6,944 16,935 18,066
Net income available to common stockholders, basic 18,571 24,360 58,896 64,410
Net income available to common stockholders, diluted $ 18,571 $ 24,360 $ 58,896 $ 64,410
Earnings per share:        
Basic earnings per share (in dollars per share) $ 0.59 $ 0.78 $ 1.87 $ 2.05
Diluted earnings per share (in dollars per share) $ 0.59 $ 0.77 $ 1.86 $ 2.04
v3.24.3
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Statement of Comprehensive Income [Abstract]        
Net income $ 18,571 $ 24,360 $ 58,896 $ 64,410
Other comprehensive income (loss):        
Unrealized holding gains (losses) arising during the period on available-for-sale securities 38,134 (26,770) 34,045 (22,025)
Reclassification adjustment for (accretion) amortization of unrealized holdings gain/(loss) included in accumulated other comprehensive income from the transfer of securities available-for-sale to held-to-maturity 95 93 283 277
Reclassification adjustment for (gains) losses included in net income (225) (2) (191) 46
Unrealized holding gains (losses) arising during the period on available-for-sale securities 38,004 (26,679) 34,137 (21,702)
Income tax (expense) benefit (9,615) 6,750 (8,637) 5,491
Other comprehensive income (loss) 28,389 (19,929) 25,500 (16,211)
Comprehensive income $ 46,960 $ 4,431 $ 84,396 $ 48,199
v3.24.3
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Treasury Stock
Beginning balance (in shares) at Dec. 31, 2022   25,275,369        
Beginning balance at Dec. 31, 2022 $ 646,663 $ 25,275 $ 558,833 $ 252,623 $ (148,957) $ (41,111)
Treasury stock, beginning balance (in shares) at Dec. 31, 2022           (1,249,607)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 16,271     16,271    
Other comprehensive income (loss) 18,183       18,183  
Dividends on common stock (6,498)     (6,498)    
Issuance of common shares for HSBI acquisition (in shares)   6,920,422        
Issuance of common shares for HSBI acquisition 221,522 $ 6,920 214,602      
Issuance of restricted stock grants (in shares)   118,689        
Issuance of restricted stock grants 0 $ 119 (119)      
Restricted stock grants forfeited (in shares)   (500)        
Restricted stock grants forfeited 0 $ (1) 1      
Repurchase of restricted stock for payment of taxes (in shares)   (9,827)        
Repurchase of restricted stock for payment of taxes (307) $ (9) (298)      
Compensation expense 593   593      
Ending balance (in shares) at Mar. 31, 2023   32,304,153        
Ending balance at Mar. 31, 2023 896,427 $ 32,304 773,612 262,396 (130,774) $ (41,111)
Treasury stock, ending balance (in shares) at Mar. 31, 2023           (1,249,607)
Beginning balance (in shares) at Dec. 31, 2022   25,275,369        
Beginning balance at Dec. 31, 2022 646,663 $ 25,275 558,833 252,623 (148,957) $ (41,111)
Treasury stock, beginning balance (in shares) at Dec. 31, 2022           (1,249,607)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 64,410          
Other comprehensive income (loss) (16,211)          
Ending balance (in shares) at Sep. 30, 2023   32,343,411        
Ending balance at Sep. 30, 2023 897,221 $ 32,343 774,598 296,559 (165,168) $ (41,111)
Treasury stock, ending balance (in shares) at Sep. 30, 2023           (1,249,607)
Beginning balance (in shares) at Mar. 31, 2023   32,304,153        
Beginning balance at Mar. 31, 2023 896,427 $ 32,304 773,612 262,396 (130,774) $ (41,111)
Treasury stock, beginning balance (in shares) at Mar. 31, 2023           (1,249,607)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 23,779     23,779    
Other comprehensive income (loss) (14,465)       (14,465)  
Dividends on common stock (6,825)     (6,825)    
Issuance of restricted stock grants (in shares)   45,773        
Issuance of restricted stock grants 0 $ 46 (46)      
Restricted stock grants forfeited (in shares)   (4,526)        
Restricted stock grants forfeited 0 $ (5) 5      
Compensation expense 530   530      
Ending balance (in shares) at Jun. 30, 2023   32,345,400        
Ending balance at Jun. 30, 2023 899,446 $ 32,345 774,101 279,350 (145,239) $ (41,111)
Treasury stock, ending balance (in shares) at Jun. 30, 2023           (1,249,607)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 24,360     24,360    
Other comprehensive income (loss) (19,929)       (19,929)  
Dividends on common stock (7,151)     (7,151)    
Issuance of restricted stock grants (in shares)   2,711        
Issuance of restricted stock grants 0 $ 3 (3)      
Restricted stock grants forfeited (in shares)   (3,596)        
Restricted stock grants forfeited 0 $ (4) 4      
Repurchase of restricted stock for payment of taxes (in shares)   (1,104)        
Repurchase of restricted stock for payment of taxes (32) $ (1) (31)      
Compensation expense 527   527      
Ending balance (in shares) at Sep. 30, 2023   32,343,411        
Ending balance at Sep. 30, 2023 897,221 $ 32,343 774,598 296,559 (165,168) $ (41,111)
Treasury stock, ending balance (in shares) at Sep. 30, 2023           (1,249,607)
Beginning balance (in shares) at Dec. 31, 2023   32,338,983        
Beginning balance at Dec. 31, 2023 $ 949,034 $ 32,339 775,232 300,150 (117,576) $ (41,111)
Treasury stock, beginning balance (in shares) at Dec. 31, 2023 (1,249,607)         (1,249,607)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income $ 20,628     20,628    
Other comprehensive income (loss) (2,312)       (2,312)  
Dividends on common stock (7,777)     (7,777)    
Issuance of restricted stock grants (in shares)   141,457        
Issuance of restricted stock grants 0 $ 141 (141)      
Repurchase of restricted stock for payment of taxes (in shares)   (12,512)        
Repurchase of restricted stock for payment of taxes (314) $ (12) (302)      
Compensation expense 653   653      
Ending balance (in shares) at Mar. 31, 2024   32,467,928        
Ending balance at Mar. 31, 2024 959,912 $ 32,468 775,442 313,001 (119,888) $ (41,111)
Treasury stock, ending balance (in shares) at Mar. 31, 2024           (1,249,607)
Beginning balance (in shares) at Dec. 31, 2023   32,338,983        
Beginning balance at Dec. 31, 2023 $ 949,034 $ 32,339 775,232 300,150 (117,576) $ (41,111)
Treasury stock, beginning balance (in shares) at Dec. 31, 2023 (1,249,607)         (1,249,607)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income $ 58,896          
Other comprehensive income (loss) 25,500          
Ending balance (in shares) at Sep. 30, 2024   32,450,440        
Ending balance at Sep. 30, 2024 $ 1,011,683 $ 32,450 776,731 335,689 (92,076) $ (41,111)
Treasury stock, ending balance (in shares) at Sep. 30, 2024 (1,249,607)         (1,249,607)
Beginning balance (in shares) at Mar. 31, 2024   32,467,928        
Beginning balance at Mar. 31, 2024 $ 959,912 $ 32,468 775,442 313,001 (119,888) $ (41,111)
Treasury stock, beginning balance (in shares) at Mar. 31, 2024           (1,249,607)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 19,697     19,697    
Other comprehensive income (loss) (577)       (577)  
Dividends on common stock (7,799)     (7,799)    
Issuance of restricted stock grants (in shares)   2,847        
Issuance of restricted stock grants 0 $ 3 (3)      
Restricted stock grants forfeited (in shares)   (5,768)        
Restricted stock grants forfeited 0 $ (6) 6      
Repurchase of restricted stock for payment of taxes (in shares)   (595)        
Repurchase of restricted stock for payment of taxes (15) $ (1) (14)      
Compensation expense 667   667      
Ending balance (in shares) at Jun. 30, 2024   32,464,412        
Ending balance at Jun. 30, 2024 971,885 $ 32,464 776,098 324,899 (120,465) $ (41,111)
Treasury stock, ending balance (in shares) at Jun. 30, 2024           (1,249,607)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 18,571     18,571    
Other comprehensive income (loss) 28,389       28,389  
Dividends on common stock (7,781)     (7,781)    
Issuance of restricted stock grants (in shares)   2,800        
Issuance of restricted stock grants 0 $ 3 (3)      
Restricted stock grants forfeited (in shares)   (14,903)        
Restricted stock grants forfeited 0 $ (15) 15      
Repurchase of restricted stock for payment of taxes (in shares)   (1,869)        
Repurchase of restricted stock for payment of taxes (55) $ (2) (53)      
Compensation expense 674   674      
Ending balance (in shares) at Sep. 30, 2024   32,450,440        
Ending balance at Sep. 30, 2024 $ 1,011,683 $ 32,450 $ 776,731 $ 335,689 $ (92,076) $ (41,111)
Treasury stock, ending balance (in shares) at Sep. 30, 2024 (1,249,607)         (1,249,607)
v3.24.3
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares
 3 Months Ended
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]            
Dividends declared (in dollars per share) $ 0.25 $ 0.25 $ 0.25 $ 0.23 $ 0.22 $ 0.21
v3.24.3
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Mar. 31, 2024
Sep. 30, 2023
Mar. 31, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Cash flows from operating activities:              
Net income $ 18,571 $ 20,628 $ 24,360 $ 16,271 $ 58,896 $ 64,410  
Adjustments to reconcile net income to net cash provided by operating activities:              
Depreciation, amortization, and accretion         14,188 3,969  
Provision for credit loss         2,650 13,250  
Loss on sale or write-down of ORE         199 753  
Securities (gain) loss         (191) 46  
Loss (gain) on disposal of premises and equipment         181 (559)  
Restricted stock expense         1,994 1,650  
Increase in cash value of life insurance         (2,852) (2,390)  
Federal Home Loan Bank stock dividends         (301) (279)  
Residential loans originated and held for sale         (65,936) (76,169)  
Proceeds from sale of residential loans held for sale         65,863 74,652  
Changes in:              
Interest receivable         (84) 1,530  
Interest payable         (8,982) 10,476  
Operating lease liability         (419) (1,208)  
Other, net         2,602 (9,774)  
Net cash provided by operating activities         67,808 80,357  
Available-for-sale securities:              
Sales         0 171,150  
Maturities, prepayments, and calls         206,577 88,490  
Purchases         (198,269) 0  
Held-to-maturity securities:              
Maturities, prepayments, and calls         51,961 35,827  
Purchases of other securities         (14,835) (10,563)  
Proceeds from other securities         3,991 8,741  
Net increase in loans         (143,941) (145,047)  
Net changes in premises and equipment         (2,293) (2,749)  
Proceeds from sale of other real estate owned         1,077 1,098  
Proceeds from the sale of premises and equipment         424 1,416  
Benefits received on bank owned life insurance policies         522 0  
Cash received in excess of cash paid for acquisitions         0 106,973  
Net cash (used in) provided by investing activities         (94,786) 255,336  
Cash flows from financing activities:              
Increase (decrease) in deposits         91,982 (408,603)  
Proceeds from borrowed funds         2,615,700 3,346,693  
Repayments of borrowed funds         (2,798,200) (3,174,793)  
Principal payments on finance lease liabilities         (137) (134)  
Dividends paid on common stock         (22,995) (20,200)  
Called/repayment of subordinated debt         0 (26,000)  
Repurchase of restricted stock for payment of taxes         (384) (339)  
Net cash used in financing activities         (114,034) (283,376)  
Net change in cash and cash equivalents         (141,012) 52,317  
Beginning cash and cash equivalents   $ 355,147   145,315 355,147 145,315 $ 145,315
Ending cash and cash equivalents $ 214,135   $ 197,632   214,135 197,632 $ 355,147
Cash paid during the year for:              
Interest         98,453 33,966  
Income taxes, (net of refunds)         14,798 9,284  
Non-cash activities:              
Loans transferred to other real estate         1,112 1,543  
Issuance of restricted stock grants         147 168  
Dividends on restricted stock grants         362 273  
Stock issued in connection with HSBI acquisition       $ 221,522      
Lease liabilities arising from obtaining right-of-use assets         482 560  
HSBI              
Non-cash activities:              
Stock issued in connection with HSBI acquisition         0 221,522  
Lease liabilities arising from HSBI acquisition         $ 0 $ 184  
v3.24.3
BASIS OF PRESENTATION
 9 Months Ended
Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
BASIS OF PRESENTATION BASIS OF PRESENTATION
Basis of Presentation
The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial statements and the instructions to Form 10-Q of the Securities and Exchange Commission. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. However, in the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the nine months ended September 30, 2024, are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. For further information, please refer to the consolidated financial statements and footnotes thereto included in the Company’s Form 10-K for the fiscal year ended December 31, 2023.
v3.24.3
SUMMARY OF ORGANIZATION
 9 Months Ended
Sep. 30, 2024
Accounting Policies [Abstract]  
SUMMARY OF ORGANIZATION SUMMARY OF ORGANIZATION
The First Bancshares, Inc., Hattiesburg, Mississippi (the “Company”), was incorporated June 23, 1995, under the laws of the State of Mississippi for the purpose of operating as a bank holding company. The Company’s primary asset is its interest in its wholly-owned subsidiary, The First Bank (the “Bank” or “The First”).
On May 17, 2024, the Company, acting pursuant to authorization from its Board of Directors, provided written notice to The Nasdaq Stock Market LLC ("Nasdaq") of its determination to voluntarily withdraw the principal listing of the Company's voting common stock, $1.00 par value per share (the "Common Stock"), from Nasdaq and transfer the listing to the New York Stock Exchange ("NYSE"). The listing and trading of the Common Stock on Nasdaq ended at market close on May 29, 2024, and trading commenced on the NYSE at market open on May 30, 2024. The Common Stock is traded on the NYSE under the symbol "FBMS."
On July 29, 2024, the Company entered into a definitive merger agreement (the "Merger Agreement") with Renasant Corporation ("Renasant"), the holding company for Renasant Bank, whereby the Company will merge with and into Renasant, with Renasant continuing as the surviving corporation, and immediately thereafter, the Bank will merge with and into Renasant Bank (collectively, the " Renasant Merger"). Subject to the terms and conditions of the Merger Agreement, the companies will combine in an all-stock transaction in which all shareholders of the Company will receive 1.00 share of Renasant common stock for each share of Company common stock. The Renasant Merger has been approved by each company's board of directors and shareholders and is expected to close in the first half of 2025. Completion of the Renasant Merger remains subject to customary closing conditions, including the receipt of required regulatory approvals.
At September 30, 2024, the Company had approximately $7.966 billion in assets, $5.263 billion in net loans held for investment (“LHFI”), $6.561 billion in deposits, and $1.012 billion in shareholders' equity. For the nine months ended September 30, 2024, the Company reported net income of $58.9 million.
On February 23, 2024, the Company paid a cash dividend in the amount of $0.25 per share to shareholders of record as of the close of business on February 7, 2024. On May 23, 2024, the Company paid a cash dividend in the amount of $0.25 per share to shareholders of record as of the close of business on May 7, 2024. On August 23, 2024, the Company paid a cash dividend in the amount of $0.25 per share to shareholders of record as of the close of business on August 8, 2024. On October 23, 2024, the Company announced that its Board of Directors declared a cash dividend of $0.25 per share to be paid on its common stock on November 22, 2024 to shareholders of record as of the close of business on November 8, 2024.
v3.24.3
ACCOUNTING STANDARDS
 9 Months Ended
Sep. 30, 2024
Accounting Changes and Error Corrections [Abstract]  
ACCOUNTING STANDARDS ACCOUNTING STANDARDS
Effect of Recently Adopted Accounting Standards
In March 2023, FASB issued ASU No. 2023-01, Leases (Topic 842) - "Common Control Arrangements." This ASU requires entities to determine whether a related party arrangement between entities under common control is a lease. If the arrangement is determined to be a lease, an entity must classify and account for the lease on the same basis as an
arrangement with a related party. The ASU requires all entities to amortize leasehold improvements associated with common control leases over the useful life to the common control group. This guidance is effective for the Company January 1, 2024, and did not have a material impact on the Company's consolidated financial statements.
In March 2023, FASB issued ASU No. 2023-02, Investments - Equity Method and Joint Venture (Topic 323): "Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method." These amendments allow reporting entities to elect to account for qualifying tax equity investments using the proportional amortization method, regardless of the program giving rise to the related income tax credits. This guidance is effective for the Company January 1, 2024, and did not have a material impact on the Company's consolidated financial statements.
New Accounting Standards That Have Not Yet Been Adopted
In October 2023, FASB issued ASU No. 2023-06, "Disclosure Improvements: Codification Amendments in Response to the SEC's Disclosure Update and Simplification Initiative." This ASU amends the ASC to incorporate certain disclosure requirements from SEC Release No. 33-10532 - Disclosure Update and Simplification that was issued in 2018. The effective date for each amendment will be the date on which the SEC's removal of that related disclosure from Regulation S-K becomes effective, with early adoption prohibited. This guidance is not expected to have a material impact on the Company's consolidated financial statements.
In November 2023, FASB issued ASU No. 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures." This ASU amends the ASC to improve reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses. The key amendments: 1. Require that a public entity disclose, on an annual and interim basis, significant segment expenses that are regularly provided to the chief operating decision maker (CODM) and included within each reported measure of segment profit or loss. 2. Require that a public entity disclose, on an annual and interim basis, an amount for other segment items by reportable segment and a description of its composition. The other segment items category is the difference between segment revenue less the significant expenses disclosed and each reported measure of segment profit or loss. 3. Require that a public entity provide all annual disclosures about a reportable segment's profit or loss and assets currently required by FASB ASU Topic 280, Segment Reporting, in interim periods. 4. Clarify that if the CODM uses more than one measure of a segment's profit or loss in assessing segment performance and deciding how to allocate resources, a public entity may report one or more of those additional measures of segment profit. However, at least one of the reported segment profit or loss measures (or the single reported measure, if only one is disclosed) should be the measure that is most consistent with the measurement principles used in measuring the corresponding amounts in the public entity's consolidated financial statements. 5. Require that a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. 6. Require that a public entity has a single reportable segment provide all the disclosures required by the amendments in the ASU and all existing segment disclosures in Topic 280. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. This guidance is not expected to have a material impact on the Company's consolidated financial statements.
In December 2023, FASB issued ASU No. 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures." This ASU requires that a public business entity on an annual basis (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold (if the effect of those reconciling items is equal to or greater than 5 percent of the amount computed by multiplying pretax income (or loss) by the applicable statutory income tax rate). The amendments require that all entities disclose on an annual basis the following information about income taxes paid: 1. The amount of income taxes paid (net of refunds received) disaggregated by federal (national), state, and foreign taxes. 2. The amount of income taxes paid (net of refunds received) disaggregated by individual jurisdictions in which income taxes paid (net of refunds received) is equal to or greater than 5 percent of total income taxes paid (net of refunds received). The amendments also require that all entities disclose the following information: 1. Income (or loss) from continuing operations before income tax expense (or benefit) disaggregated between domestic and foreign. 2. Income tax expense (or benefit) from continuing operations disaggregated by federal (national), state, and foreign. This ASU is effective for annual periods beginning after December 15, 2024. This guidance is not expected to have a material impact on the Company's consolidated financial statements.
In March 2024, FASB issued ASU No. 2024-02, Codification Improvements - Amendments to Remove References to the Concepts Statements: This ASU amends the Codification to remove references to various concepts statements and impacts a variety of topics in the Codification. The amendments apply to all reporting entities within the scope of the affected accounting guidance, but in most instances the references removed are extraneous and not required to understand
or apply the guidance. Generally, the amendments in ASU 2024-02 are not intended to result in significant accounting changes for most entities. This ASU is effective for annual periods beginning after December 15, 2024. This guidance is not expected to have a material impact on the Company's consolidated financial statements.
v3.24.3
BUSINESS COMBINATIONS
 9 Months Ended
Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
BUSINESS COMBINATIONS BUSINESS COMBINATIONS
Acquisitions
Heritage Southeast Bank
On January 1, 2023, the Company completed its acquisition of Heritage Southeast Bancorporation, Inc. ("HSBI"), pursuant to an Agreement and Plan of Merger dated July 27, 2022, by and between the Company and HSBI (the "HSBI Merger Agreement"). Upon the completion of the merger of HSBI with and into the Company, Heritage Southeast Bank ("Heritage Bank"), HSBI's wholly-owned subsidiary, was merged with and into The First Bank. Under the terms of the HSBI Merger Agreement, each share of HSBI common stock was converted into the right to receive 0.965 of a share of Company common stock. The Company paid a total consideration of $221.5 million to the former HSBI shareholders as consideration in the acquisition, which included 6,920,422 shares of the Company's common stock, and $16 thousand in cash in lieu of fractional shares. The HSBI acquisition provided the opportunity for the Company to expand its operations in Georgia and the Florida panhandle.
In connection with the acquisition of HSBI, the Company recorded $91.9 million of goodwill, of which $3.2 million funded the ACL for estimated losses on the acquired PCD loans, and $43.7 million core deposit intangible. Goodwill is not deductible for income taxes. The core deposit intangible will be amortized to expense over 10 years.
The following table summarizes the finalized fair values of the assets acquired and liabilities assumed including the goodwill generated from the transaction on January 1, 2023, along with valuation adjustments that have been made since initially reported.
($ in thousands)As Initially
Reported		Measurement
Period
Adjustments		As Adjusted
Identifiable assets:
Cash and due from banks$106,973 $(180)$106,793 
Investments172,775 — 172,775 
Loans1,155,712 — 1,155,712 
Core deposit intangible43,739 — 43,739 
Personal and real property35,963 — 35,963 
Other real estate owned857 332 1,189 
Bank owned life insurance35,579 — 35,579 
Deferred taxes6,761 (632)6,129 
Interest receivable4,349 — 4,349 
Other assets3,103 — 3,103 
Total assets1,565,811 (480)1,565,331 
Liabilities and equity:
Deposits1,392,432 — 1,392,432 
Trust Preferred9,015 — 9,015 
Other liabilities34,271 — 34,271 
Total liabilities1,435,718 — 1,435,718 
Net assets acquired130,093 (480)129,613 
Consideration paid221,538 — 221,538 
Goodwill$91,445 $480 $91,925 
During the fourth quarter of 2023, the Company finalized its analysis and valuation adjustments have been made to cash and due from banks, other real estate owned, and deferred taxes since initially reported.
Beach Bancorp, Inc.
On August 1, 2022, the Company completed its acquisition of Beach Bancorp, Inc. ("BBI"), pursuant to an Agreement and Plan of Merger dated April 26, 2022, by and between the Company and BBI (the "BBI Merger Agreement"). Upon the completion of the merger of BBI with and into the Company, Beach Bank, BBI's wholly-owned subsidiary, was merged with and into The First Bank. Under the terms of the BBI Merger Agreement, each share of BBI common stock and each share of BBI preferred stock was converted into the right to receive 0.1711 of a share of Company common stock (the "BBI Exchange Ratio"), and all stock options awarded under the BBI equity plans were converted automatically into an option to purchase shares of Company common stock on the same terms and conditions as applicable to each such BBI option as in effect immediately prior to the effective time, with the number of shares underlying each such option and the applicable exercise price adjusted based on the BBI Exchange Ratio. The BBI merger provides the opportunity for the Company to expand its operations in the Florida panhandle and enter the Tampa market. The Company paid consideration of $101.5 million to the former BBI shareholders including 3,498,936 shares of the Company's common stock and $1 thousand in cash in lieu of fractional shares, and also assumed options entitling the owners thereof to purchase an additional 310,427 shares of the Company's common stock.
In connection with the acquisition of BBI, the Company recorded $23.7 million of goodwill, of which $1.3 million funded the ACL for estimated losses on the acquired PCD loans, and $9.8 million core deposit intangible. Goodwill is not deductible for income taxes. The core deposit intangible will be amortized to expense over 10 years.
The following table summarizes the finalized fair values of the assets acquired and liabilities assumed including the goodwill generated from the transaction on August 1, 2022, along with valuation adjustments that have been made since initially reported.
($ in thousands)As Initially ReportedMeasurement Period AdjustmentsAs Adjusted
Purchase price:
Cash and stock$101,470 $— $101,470 
Total purchase price101,470 — 101,470 
Identifiable assets:
Cash$23,939 $— $23,939 
Investments22,907 (264)22,643 
Loans482,903 2,268 485,171 
Other real estate8,797 (580)8,217 
Bank owned life insurance10,092 — 10,092 
Core deposit intangible9,791 — 9,791 
Personal and real property13,825 (1,868)11,957 
Deferred tax asset28,105 (970)27,135 
Other assets9,649 (414)9,235 
Total assets610,008 (1,828)608,180 
Liabilities and equity:
Deposits490,588 3 490,591 
Borrowings25,000 — 25,000 
Other liabilities14,772 — 14,772 
Total liabilities530,360 3 530,363 
Net assets acquired79,648 (1,831)77,817 
Goodwill$21,822 $1,831 $23,653 
During the third quarter of 2023, the Company finalized its analysis and valuation adjustments that have been made to investments, loans, other real estate, personal and real property, deferred tax asset, other assets, and deposits.
v3.24.3
EARNINGS APPLICABLE TO COMMON SHAREHOLDERS
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
EARNINGS APPLICABLE TO COMMON SHAREHOLDERS EARNINGS APPLICABLE TO COMMON SHAREHOLDERS
Basic per share data is calculated based on the weighted-average number of common shares outstanding during the reporting period. Diluted per share data includes any dilution from potential common stock outstanding, such as restricted stock grants. There were no anti-dilutive common stock equivalents excluded in the calculations.
The following tables disclose the reconciliation of the numerators and denominators of the basic and diluted computations applicable to common shareholders.
($ in thousands, except per share amount)Three Months Ended
September 30, 2024		Three Months Ended
September 30, 2023
Net Income
(Numerator)		Shares
(Denominator)		Per
Share Data		Net Income
(Numerator)		Shares
(Denominator)		Per
Share Data
Basic earnings per share$18,571 31,516,823 $0.59 $24,360 31,405,439 $0.78 
Effect of dilutive shares:
Restricted stock grants 196,562 204,125 
Diluted earnings per share$18,571 31,713,385 $0.59 $24,360 31,609,564 $0.77 
($ in thousands, except per share amount)For the Nine Months Ended
September 30, 2024		For the Nine Months Ended
September 30, 2023
Net Income
(Numerator)		Shares
(Denominator)		Per
Share Data		Net Income
(Numerator)		Shares
(Denominator)		Per
Share Data
Basic earnings per share$58,896 31,506,556 $1.87 $64,410 31,364,420 $2.05 
Effect of dilutive shares:
Restricted stock grants169,311 199,862 
Diluted earnings per share$58,896 31,675,867 $1.86 $64,410 31,564,282 $2.04 
The Company granted 141,457 shares and 118,689 shares of restricted stock in the first quarter of 2024 and 2023, respectively. The Company granted 2,847 shares and 45,773 shares of restricted stock in the second quarter of 2024 and 2023, respectively. The Company granted 2,800 shares and 2,711 shares of restricted stock in the third quarter of 2024 and 2023, respectively.
v3.24.3
COMPREHENSIVE INCOME
 9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
COMPREHENSIVE INCOME COMPREHENSIVE INCOME
As presented in the Consolidated Statements of Comprehensive Income (Loss), comprehensive income includes net income and other comprehensive income. The Company’s sources of other comprehensive income are unrealized gains and losses on available-for-sale securities, which are also recognized as separate components of equity.
v3.24.3
FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK
 9 Months Ended
Sep. 30, 2024
Risks and Uncertainties [Abstract]  
FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK
The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. At September 30, 2024, and December 31, 2023, these financial instruments consisted of the following:
($ in thousands)September 30, 2024December 31, 2023
Fixed Rate
Variable RateFixed RateVariable Rate
Commitments to make loans$34,997 $50,348 $34,380 $50,226 
Unused lines of credit165,324 729,288 231,335 605,646 
Standby letters of credit13,346 15,514 15,573 13,114 
Commitments to make loans are generally made for periods of 90 days or less. The fixed rate loan commitments have interest rates ranging from 0.0% to 18.0% and maturities ranging from approximately 1 year to 30 years.
ALLOWANCE FOR CREDIT LOSSES (“ACL”) ON OFF BALANCE SHEET CREDIT (“OBSC”) EXPOSURES
The Company maintains a separate ACL on OBSC exposures, including unfunded commitments and letters of credit, which is included on the accompanying consolidated balance sheet as of September 30, 2024 and December 31, 2023. The ACL on OBSC exposures is adjusted as a provision for credit loss expense. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life.
Changes in the ACL on OBSC exposures were as follows for the presented periods:
($ in thousands)Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Balance at beginning of period$2,075$2,075$2,075 $1,325 
Credit loss expense related to OBSC exposures——— 750 
Balance at end of period$2,075$2,075$2,075 $2,075 
Adjustments to the ACL on OBSC exposures are recorded to provision for credit losses related to OBSC exposures. The Company recorded no ACL provision for the three months period ended September 30, 2024 and September 30, 2023. For the nine months period ended September 30, 2024, the Company recorded no provision to the ACL on OBSC exposures compared to $750 thousand for the same period in 2023. The ACL on OBSC exposures for the nine months ended September 30, 2023 includes the day one provision for unfunded commitments related to the HSBI acquisition and an increase in unfunded commitments.
No credit loss estimate is reported for OBSC exposures that are unconditionally cancellable by the Company or for undrawn amounts under such arrangements that may be drawn prior to the cancellation on the arrangement.
v3.24.3
FAIR VALUE DISCLOSURES AND REPORTING, THE FAIR VALUE OPTION AND FAIR VALUE MEASUREMENTS
 9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
FAIR VALUE DISCLOSURES AND REPORTING, THE FAIR VALUE OPTION AND FAIR VALUE MEASUREMENTS FAIR VALUE DISCLOSURES AND REPORTING, THE FAIR VALUE OPTION AND FAIR VALUE MEASUREMENTS
Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the assets or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values:
Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date.
Level 2: Significant observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, and other inputs that are observable or can be corroborated by observable market data.
Level 3: Significant unobservable inputs that reflect a company’s own assumptions about the factors that market participants would likely consider in pricing an asset or liability.
The following methods and assumptions were used by the Company to estimate its financial instrument fair values disclosed at September 30, 2024 and December 31, 2023:
•Investment Securities: The fair value for investment securities is determined by quoted market prices, if available (Level 1). For securities where quoted prices are not available, fair values are calculated based on market prices of similar securities (Level 2), using matrix pricing. Matrix pricing is a mathematical technique commonly used to price debt securities that are not actively traded, valuing debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs). For securities where quoted prices or market prices of similar securities are not available, fair values are calculated using discounted cash flows or other market indicators (Level 3).
•Loans Held for Sale - Loans held for sale are carried at fair value in the aggregate as determined by the outstanding commitments from investors. As such, we classify those loans subjected to recurring fair value adjustments as Level 2 of the fair value hierarchy.
•Collateral Dependent Loans: Loans for which it is probable that the Company will not collect all principal and interest due according to contractual terms are measured for impairment. If the impaired loan is identified as collateral dependent, then the fair value method of measuring the amount of impairment is utilized. This method requires obtaining a current independent appraisal of the collateral. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by independent appraisers to adjust for differences between the comparable sales and income data available for similar loans and collateral underlying such loans. Such adjustments, if any, result in a Level 3 classification of the inputs for determining fair value. The Company generally adjusts the appraisal down by approximately 10 percent to account for cost associated with litigation and collection. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. Impaired loans are evaluated on a quarterly basis for additional impairment.
•Other Real Estate Owned: Other real estate owned consists of properties obtained through foreclosure. The adjustment at the time of foreclosure is recorded through the allowance for credit losses. Fair value of other real estate owned is based on current independent appraisals of the collateral less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. Fair value is commonly based on recent real estate appraisals, which are updated no less frequently than annually. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach with data from comparable properties. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments, if any, result in a Level 3 classification of the inputs for determining fair value. In the determination of fair value subsequent to foreclosure, management also considers other factors or recent developments, such as changes in market conditions from the time of valuation and anticipated sales values considering plans for disposition, which could result in an adjustment to lower the collateral value estimates indicated in the appraisals. The Company generally adjusts the appraisal down by approximately 10 percent to account for carrying costs. Periodic revaluations are classified as Level 3 in the fair value hierarchy since assumptions are used that may not be observable in the market. Due to the subjective nature of establishing the fair value when the asset is acquired, the actual fair value of the other real estate owned or foreclosed asset could differ from the original estimate. If it is determined the fair value declines subsequent to foreclosure, a valuation allowance is recorded through other non-interest income. Operating costs associated with the assets after acquisition are also recorded as non-interest expense. Gains and losses on the disposition of other real estate owned and foreclosed assets are netted and recorded in other non-interest income. Other real estate owned is classified within Level 3 of the fair value hierarchy.
•Interest Rate Swaps: The Company offers interest rate swaps to certain commercial loan customers to allow them to hedge the risk of rising interest rates on their variable rate loans. The Company originates a variable rate loan and enters into a variable to fixed interest rate swap with the customer. The Company also enters into an offsetting swap with a correspondent bank. These back-to-back agreements are intended to offset each other and allow the Company to originate a variable rate loan, while providing the contract or fixed interest payments for the customer. In addition, the Company will enter into risk participation agreements ("RPA"). Under an RPA-in agreement, a derivative liability, the Company assumes, or participates in, a portion of the credit risk associated with the interest rate swap position with the commercial borrower, for a fee received from the other bank. Under an RPA-out agreement, a derivative asset, the Company participates out a portion of the credit risk associated with the interest rate swap position executed with the commercial borrower, for a fee paid to the participating bank. RPAs are derivative financial instruments recorded at fair value. Although we have determined that a majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy, the credit assumptions associated with our risk participation agreements utilize Level 3 inputs.
Estimated fair values for the Company’s financial instruments are as follows, as of the dates noted:
September 30, 2024Carrying
Amount		Estimated
Fair Value		Fair Value Measurements
($ in thousands)
Quoted Prices
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Financial Instruments:
Assets:
Cash and cash equivalents$214,135 $214,135 $214,135 $— $— 
Securities available-for-sale1,060,014 1,060,014 5,181 1,028,714 26,119 
Securities held-to-maturity602,328 574,750 — 574,750 — 
Loans held for sale2,987 2,987 — 2,987 — 
Loans, net5,262,890 5,023,940 — — 5,023,940 
Accrued interest receivable33,384 33,384 — 7,342 26,042 
  Interest rate swaps11,389 11,389 — 11,352 37 
Liabilities:
Noninterest-bearing deposits$1,796,746 $1,796,746 $— $1,796,746 $— 
Interest-bearing deposits4,763,966 4,702,034 — 4,702,034 — 
Subordinated debentures123,645 112,327 — — 112,327 
FHLB and other borrowings207,500 207,500 — 207,500 — 
Accrued interest payable13,720 13,720 — 13,720 — 
  Interest rate swaps11,388 11,388 — 11,352 36 
December 31, 2023Carrying
Amount		Estimated
Fair Value		Fair Value Measurements
($ in thousands)
Quoted
Prices
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Financial Instruments:
Assets:
Cash and cash equivalents$355,147 $355,147 $355,147 $— $— 
Securities available-for-sale1,039,322 1,039,322 16,675 1,004,434 18,213 
Securities held-to-maturity654,539 615,944 — 615,944 — 
Loans held for sale2,914 2,914 — 2,914 — 
Loans, net5,116,010 4,877,935 — — 4,877,935 
Accrued interest receivable33,300 33,300 — 8,632 24,668 
Interest rate swaps12,170 12,170 — 12,129 41 
Liabilities:
Non-interest-bearing deposits$1,849,013 $1,849,013 $— $1,849,013 $— 
Interest-bearing deposits4,613,859 4,430,227 — 4,430,227 — 
Subordinated debentures123,386 109,426 — — 109,426 
FHLB and other borrowings390,000 390,000 — 390,000 — 
Accrued interest payable22,702 22,702 — 22,702 — 
Interest rate swaps12,175 12,175 — 12,129 46 
Assets measured at fair value on a recurring basis are summarized below:
September 30, 2024
($ in thousands)Fair ValueFair Value Measurements Using
Quoted Prices in
Active Markets
For
Identical Assets
(Level 1)		Significant Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Assets:
Available-for-sale
U.S. Treasury$5,181 $5,181 $— $— 
Obligations of U.S. Government agencies and sponsored entities98,580 — 98,580 — 
Municipal securities420,701 — 394,611 26,090 
Mortgage-backed securities502,435 — 502,435 — 
Corporate obligations33,117 — 33,088 29 
Total available-for-sale$1,060,014 $5,181 $1,028,714 $26,119 
Loans held for sale$2,987 $— $2,987 $— 
Interest rate swaps$11,389 $— $11,352 $37 
Liabilities:
Interest rate swaps$11,388 $— $11,352 $36 
December 31, 2023
($ in thousands)
Fair ValueFair Value Measurements Using
Quoted Prices in
Active Markets
For
Identical Assets
(Level 1)		Significant Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Available-for-sale
U.S. Treasury$16,675 $16,675 $— $— 
Obligations of U.S. Government agencies and sponsored entities104,923 — 104,923 — 
Municipal securities438,466 — 420,283 18,183 
Mortgage-backed securities441,661 — 441,661 — 
Corporate obligations37,597 — 37,567 30 
Total available-for-sale$1,039,322 $16,675 $1,004,434 $18,213 
Loans held for sale$2,914 $— $2,914 $— 
Interest rate swaps$12,170 $— $12,129 $41 
Liabilities:
Interest rate swaps$12,175 $— $12,129 $46 
The following is a reconciliation of activity for assets measured at fair value based on significant unobservable inputs (Level 3) information.
Bank-Issued Trust
Preferred Securities
($ in thousands)20242023
Balance, January 1 $30 $31 
Paydowns(1)— 
Balance at September 30$29 $31 
Municipal Securities
($ in thousands)2024 2023
Balance, January 1 $18,183 $15,117 
Maturities, calls and paydowns(580)(532)
Transfer from level 2 to level 38,384 6,085 
Transfer from level 3 to level 2(270)— 
Unrealized gain (loss) included in comprehensive income 373 (1,177)
Balance at September 30$26,090 $19,493 
Interest Rate Swaps - Risk Participations
($ in thousands)20242023
Balance, January 1$(5)$— 
RPA-in10 11 
RPA-out(4)— 
Balance at September 30$1 $11 
The following methods and assumptions were used to estimate the fair values of the Company’s assets measured at fair value on a recurring basis at September 30, 2024 and December 31, 2023. The following tables present quantitative information about recurring Level 3 fair value measurements.
($ in thousands)
Trust Preferred SecuritiesFair ValueValuation TechniqueSignificant Unobservable
Inputs		Range of Inputs
September 30, 2024$29 Discounted cash flowProbability of default
7.09% - 7.45%
December 31, 2023$30 Discounted cash flowProbability of default
7.81% - 7.89%
Municipal SecuritiesFair ValueValuation TechniqueSignificant
Unobservable Inputs		Range of Inputs
September 30, 2024$26,090 Discounted cash flowDiscount Rate
2.60% - 5.56%
December 31, 2023$18,183 Discounted cash flowDiscount Rate
2.34% - 5.50%
Interest Rate Swaps - Risk ParticipationsFair ValueValuation TechniqueSignificant
Unobservable Inputs		Range of Inputs
September 30, 2024$1 Credit Value AdjustmentCredit Spread
225 bps - 300 bps
Recovery Rate70%
December 31, 2023$(5)Credit Value AdjustmentCredit Spread
225 bps - 300 bps
Recovery Rate70%
The following table presents the fair value measurement of assets measured at fair value on a non-recurring basis and the level within the fair value hierarchy in which the fair value measurements were classified at September 30, 2024 and December 31, 2023.
September 30, 2024
($ in thousands)Fair Value Measurements Using
Fair ValueQuoted Prices in
Active Markets
For
Identical Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Collateral dependent loans$2,894 $— $— $2,894 
Other real estate owned 7,314 — — 7,314 
December 31, 2023
($ in thousands)Fair Value Measurements Using
Fair ValueQuoted Prices in
Active Markets
For
Identical Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Collateral dependent loans$2,494 $— $— $2,494 
Other real estate owned8,320 — — 8,320 
v3.24.3
SECURITIES
 9 Months Ended
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
SECURITIES SECURITIES
The following table summarizes the amortized cost, gross unrealized gains and losses, and estimated fair values of securities available-for-sale (“AFS”) and securities held-to-maturity at September 30, 2024 and December 31, 2023.
($ in thousands)September 30, 2024
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair
Value
Available-for-sale securities:
U.S. Treasury$5,294 $— $113 $5,181 
Obligations of U.S. government agencies and sponsored entities109,409 — 10,829 98,580 
Tax-exempt and taxable obligations of states and municipal subdivisions459,912 562 39,773 420,701 
Mortgage-backed securities - residential312,607 282 26,419 286,470 
Mortgage-backed securities - commercial228,888 2,454 15,377 215,965 
Corporate obligations35,553 — 2,436 33,117 
Total available-for-sale$1,151,663 $3,298 $94,947 $1,060,014 
Held-to-maturity:
U.S. Treasury$52,207 $— $1,306 $50,901 
Obligations of U.S. government agencies and sponsored entities32,946 3 1,003 31,946 
Tax-exempt and taxable obligations of states and municipal subdivisions245,240 8,980 12,028 242,192 
Mortgage-backed securities - residential131,045 — 11,177 119,868 
Mortgage-backed securities - commercial130,890 11 9,408 121,493 
Corporate obligations10,000 — 1,650 8,350 
Total held-to-maturity$602,328 $8,994 $36,572 $574,750 
($ in thousands)December 31, 2023
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair
Value
Available-for-sale securities:
U.S. Treasury$16,985 $— $310 $16,675 
Obligations of U.S. government agencies sponsored entities119,868 1 14,946 104,923 
Tax-exempt and taxable obligations of states and municipal subdivisions486,293 449 48,276 438,466 
Mortgage-backed securities - residential297,735 11 34,430 263,316 
Mortgage-backed securities - commercial198,944 76 20,675 178,345 
Corporate obligations41,347 — 3,750 37,597 
Total available-for-sale$1,161,172 $537 $122,387 $1,039,322 
Held-to-maturity:
U.S. Treasury$89,688 $— $2,804 $86,884 
Obligations of U.S. government agencies and sponsored entities33,659 — 1,803 31,856 
Tax-exempt and taxable obligations of states and municipal subdivisions246,908 9,566 14,697 241,777 
Mortgage-backed securities - residential141,573 — 14,237 127,336 
Mortgage-backed securities - commercial132,711 — 12,334 120,377 
Corporate obligations10,000 — 2,286 7,714 
Total held-to-maturity$654,539 $9,566 $48,161 $615,944 
ACL on Securities
Securities Available for Sale
Quarterly, the Company evaluates if a security has a fair value less than its amortized cost. Once these securities are identified, in order to determine whether a decline in fair value resulted from a credit loss or other factors, the Company performs further analysis as outlined below:
•Review the extent to which the fair value is less than the amortized cost and determine if the decline is indicative of credit loss or other factors.
•The securities that violate the credit loss trigger above would be subjected to additional analysis.
•If the Company determines that a credit loss exists, the credit portion of the allowance will be measured using the discounted cash flow (“DCF”) analysis using the effective interest rate. The amount of credit loss the Company records will be limited to the amount by which the amortized cost exceeds the fair value. The allowance for the calculated credit loss will be monitored going forward for further credit deterioration or improvement.
At both September 30, 2024 and December 31, 2023, the results of the analysis did not identify any securities where the decline was indicative of credit loss factors; therefore, no credit loss was recognized on any of the securities AFS.
Accrued interest receivable is excluded from the estimate of credit losses for securities AFS. Accrued interest receivable totaled $4.4 million and $5.2 million at September 30, 2024 and December 31, 2023, respectively and was reported in interest receivable on the accompanying Consolidated Balance Sheet.
All AFS securities were current with no securities past due or on nonaccrual as of September 30, 2024 and December 31, 2023.
Securities Held to Maturity
At September 30, 2024 and December 31, 2023, the potential credit loss exposure was $216 thousand and $205 thousand, respectively and consisted of tax-exempt and taxable obligations of states and municipal subdivisions and corporate obligations securities. After applying appropriate probability of default (“PD”) and loss given default (“LGD”) assumptions, the total amount of current expected credit losses was deemed immaterial. Therefore, no reserve was recorded at September 30, 2024.
Accrued interest receivable is excluded from the estimate of credit losses for securities held-to-maturity. Accrued interest receivable totaled $2.6 million and $3.4 million at September 30, 2024 and December 31, 2023, respectively and was reported in interest receivable on the accompanying Consolidated Balance Sheet.
At both September 30, 2024 and December 31, 2023, the Company had no securities held-to-maturity that were past due 30 days or more as to principal or interest payments. The Company had no securities held-to-maturity classified as nonaccrual at both September 30, 2024 and December 31, 2023.
The Company monitors the credit quality of the debt securities held-to-maturity through the use of credit ratings. The Company monitors the credit ratings on a quarterly basis. The following table summarizes the amortized cost of debt securities held-to-maturity at September 30, 2024 and December 31, 2023, aggregated by credit quality indicators.
($ in thousands)September 30, 2024December 31, 2023
Aaa$381,093 $431,527 
Aa1/Aa2/Aa3114,940 129,751 
A1/A211,366 13,902 
BBB10,000 10,000 
Not rated84,929 69,359 
Total$602,328 $654,539 
The amortized cost and fair value of debt securities are shown by contractual maturity. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties.
($ in thousands)September 30, 2024
Amortized
Cost		Fair
Value
Available-for-sale:
Due less than one year$40,601 $40,444 
Due after one year through five years130,708 126,089 
Due after five years through ten years321,043 288,203 
Due greater than ten years117,816 102,843 
Mortgage-backed securities - residential312,607 286,470 
Mortgage-backed securities - commercial228,888 215,965 
Total$1,151,663 $1,060,014 
Held-to-maturity:
Due less than one year$44,181 $43,784 
Due after one year through five years30,815 29,515 
Due after five years through ten years61,196 58,841 
Due greater than ten years204,201 201,249 
Mortgage-backed securities - residential131,045 119,868 
Mortgage-backed securities - commercial130,890 121,493 
Total$602,328 $574,750 
Total securities pledged as collateral, to secure public deposits and for other purposes, was $1.115 billion at September 30, 2024 and $1.095 billion at December 31, 2023, respectively.
The following table summarizes securities in an unrealized loss position for which an allowance for credit losses has not been recorded at September 30, 2024 and December 31, 2023. The securities are aggregated by major security type and length of time in a continuous unrealized loss position:
($ in thousands)September 30, 2024
Losses < 12 MonthsLosses 12 Months or >Total
Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
Available-for-sale:
U.S. Treasury$— $— $5,181 $113 $5,181 $113 
Obligations of U.S. government agencies and sponsored entities167 1 98,267 10,828 98,434 10,829 
Tax-exempt and taxable obligations of state and municipal subdivisions12,322 1,364 368,468 38,409 380,790 39,773 
Mortgage-backed securities - residential15 — 239,105 26,419 239,120 26,419 
Mortgage-backed securities - commercial466 22 157,632 15,355 158,098 15,377 
Corporate obligations— — 33,117 2,436 33,117 2,436 
Total$12,970 $1,387 $901,770 $93,560 $914,740 $94,947 
Held-to-maturity:
U.S. Treasury$— $— $50,901 $1,306 $50,901 $1,306 
Obligations of U.S. government agencies and sponsored entities— — 31,166 1,003 31,166 1,003 
Tax-exempt and taxable obligations of state and municipal subdivisions 7,297 85 101,870 11,943 109,167 12,028 
Mortgage-backed securities - residential— — 119,868 11,177 119,868 11,177 
Mortgage-backed securities - commercial— — 120,560 9,408 120,560 9,408 
Corporate obligations— — 8,350 1,650 8,350 1,650 
Total$7,297 $85 $432,715 $36,487 $440,012 $36,572 
($ in thousands)December 31, 2023
Losses < 12 MonthsLosses 12 Months or >Total
Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
Available-for-sale:
U.S. Treasury$— $— $16,675 $310 $16,675 $310 
Obligations of U.S. government agencies and sponsored entities123 — 104,495 14,946 104,618 14,946 
Tax-exempt and taxable obligations of state and municipal subdivisions20,879 1,479 389,113 46,797 409,992 48,276 
Mortgage-backed securities - residential222 2 262,012 34,428 262,234 34,430 
Mortgage-backed securities - commercial2,896 52 170,256 20,623 173,152 20,675 
Corporate obligations— — 37,597 3,750 37,597 3,750 
Total$24,120 $1,533 $980,148 $120,854 $1,004,268 $122,387 
Held-to-maturity:
U.S. Treasury$— $— $86,884 $2,804 $86,884 $2,804 
Obligations of U.S. government agencies and sponsored entities747 5 31,109 1,798 31,856 1,803 
Tax-exempt and taxable obligations of state and municipal subdivisions10,472 3,949 91,480 10,748 101,952 14,697 
Mortgage-backed securities - residential— — 127,336 14,237 127,336 14,237 
Mortgage-backed securities - commercial920 2 119,457 12,332 120,377 12,334 
Corporate obligations— — 7,714 2,286 7,714 2,286 
Total$12,139 $3,956 $463,980 $44,205 $476,119 $48,161 
At September 30, 2024 and December 31, 2023, the Company’s securities portfolio consisted of 995 and 1,125 securities, respectively, which were in an unrealized loss position. Securities in unrealized loss positions are evaluated for impairment related to credit losses at least quarterly. The unrealized losses shown above are due to increases in market rates over the yields available at the time of purchase of the underlying securities and not credit quality. As of September 30, 2024 and December 31, 2023, the Company determined that it does not intend to sell and is not currently aware of any circumstances which will require it to sell any of the securities that are in an unrealized loss position prior to recovery of their amortized cost basis. As such, no allowance for credit losses was needed at September 30, 2024 and December 31, 2023.
Equity Securities
In the third quarter of 2024, the Company reclassified one of its securities from AFS to Other Securities. The equity security consists of our investment in a market-rate bond mutual fund that invests in high quality fixed income bonds, mainly government agency securities whose proceeds are designed to positively impact community development throughout the United States. The mutual fund focuses exclusively on providing affordable housing to low- and moderate-income borrowers and renters, including Majority Minority Census Tracts. The 2023 financial statements have been reclassified for comparative purposes to conform to the current period financial statement presentation.
As of September 30, 2024, and December 31, 2023, the Company had equity securities with carrying values totaling $8.2 million and $3.1 million, respectively.
During the three months ended September 30, 2024, we recognized unrealized losses of $222 thousand and none during the same period in 2023 in net income on our equity securities. During the nine months ended September 30, 2024, we recognized an unrealized loss of $222 thousand and none for the same period in 2023 in net income on our equity securities. These unrealized gains and losses are recorded in the gain/loss on securities on the Consolidated Statements of Income.
v3.24.3
LOANS AND ALLOWANCE FOR CREDIT LOSSES
 9 Months Ended
Sep. 30, 2024
Receivables [Abstract]  
LOANS AND ALLOWANCE FOR CREDIT LOSSES LOANS AND ALLOWANCE FOR CREDIT LOSSES
The Company uses four different categories to classify loans in its portfolio based on the underlying collateral securing each loan. The loans grouped together in each category have been determined to share similar risk characteristics with respect to credit quality. Those four categories are commercial, financial and agriculture, commercial real estate, consumer real estate, consumer installment;
Commercial, financial and agriculture – Commercial, financial and agriculture loans include loans to business entities issued for commercial, industrial, or other business purposes. This type of commercial loan shares a similar risk characteristic in that unlike commercial real estate loans, repayment is largely dependent on cash flow generated from the operation of the business.
Commercial real estate – Commercial real estate loans are grouped as such because repayment is mainly dependent upon either the sale of the real estate, operation of the business occupying the real estate, or refinance of the debt obligation. This includes both owner-occupied and non-owner occupied CRE secured loans, because they share similar risk characteristics related to these variables.
Consumer real estate – Consumer real estate loans consist primarily of loans secured by 1-4 family residential properties and/or residential lots. This includes loans for the purpose of constructing improvements on the residential property, as well as home equity lines of credit.
Consumer installment – Installment and other loans are all loans issued to individuals that are not for any purpose related to operation of a business, and not secured by real estate. Repayment on these loans is mostly dependent on personal income, which may be impacted by general economic conditions.
The following table shows the composition of the loan portfolio:
($ in thousands)September 30, 2024December 31, 2023
Loans held for sale
Mortgage loans held for sale$2,987 $2,914 
Total LHFS$2,987 $2,914 
Loans held for investment
Commercial, financial and agriculture (1)$748,664 $800,324 
Commercial real estate3,235,566 3,059,155 
Consumer real estate1,287,144 1,252,795 
Consumer installment47,216 57,768 
Total loans5,318,590 5,170,042 
Less allowance for credit losses(55,700)(54,032)
Net LHFI$5,262,890 $5,116,010 
____________________________________________________________
(1)
Loan balance includes $256 thousand and $386 thousand in Paycheck Protection Program (“PPP”) loans as of September 30, 2024 and December 31, 2023, respectively.
Accrued interest receivable is not included in the amortized cost basis of the Company’s LHFI. At September 30, 2024 and December 31, 2023, accrued interest receivable for LHFI totaled $26.0 million and $24.7 million, respectively, with no related ACL and was reported in interest receivable on the accompanying consolidated balance sheet.
Nonaccrual and Past Due LHFI
Past due LHFI are loans contractually past due 30 days or more as to principal or interest payments. Generally, the Company will place a delinquent loan in nonaccrual status when the loan becomes 90 days or more past due. At the time a loan is placed in nonaccrual status, all interest which has been accrued on the loan but remains unpaid is reversed and deducted from earnings as a reduction of reported interest income. No additional interest is accrued on the loan balance until the collection of both principal and interest becomes reasonably certain.
The following tables present the aging of the amortized cost basis in past due loans in addition to those loans classified as nonaccrual including purchase credit deteriorated (“PCD”) loans:
($ in thousands)September 30, 2024
Past Due
30 to 89
Days		Past Due
90 Days
or More and
Still Accruing		NonaccrualPCDTotal
Past Due,
Nonaccrual
and PCD		Total
LHFI		Nonaccrual
and PCD
with No ACL
Commercial, financial and agriculture (1)$2,660 $527 $667 $342 $4,196 $748,664 $270 
Commercial real estate3,962 — 8,387 456 12,805 3,235,566 837 
Consumer real estate7,440 928 3,709 2,609 14,686 1,287,144 1,643 
Consumer installment245 — 114 — 359 47,216 13 
Total$14,307 $1,455 $12,877 $3,407 $32,046 $5,318,590 $2,763 
___________________________________________________________
(1)
Total loan balance includes $256 thousand in PPP loans as of September 30, 2024.
December 31, 2023
($ in thousands)Past Due
30 to 89
Days		Past Due 90
Days or
More and
Still Accruing		NonaccrualPCDTotal
Past Due,
Nonaccrual
and PCD		Total
LHFI		Nonaccrual
and PCD
with No ACL
Commercial, financial and agriculture (1)$2,043 $313 $353 $965 $3,674 $800,324 $465 
Commercial real estate1,698 630 3,790 647 6,765 3,059,155 410 
Consumer real estate3,992 220 1,806 3,098 9,116 1,252,795 680 
Consumer installment180 — 31 — 211 57,768 — 
Total$7,913 $1,163 $5,980 $4,710 $19,766 $5,170,042 $1,555 
___________________________________________________________
(1)
Total loan balance includes $386 thousand in PPP loans as of December 31, 2023.
Acquired Loans
In connection with the acquisitions of HSBI and BBI, the Company acquired loans both with and without evidence of credit quality deterioration since origination. Acquired loans are recorded at their fair value at the time of acquisition with no carryover from the acquired institution's previously recorded allowance for credit losses. Acquired loans are accounted for following ASC 326, Financial Instruments - Credit Losses.
The fair value for acquired loans recorded at the time of acquisition is based upon several factors including the timing and payment of expected cash flows, as adjusted for estimated credit losses and prepayments, and then discounting these cash flows using comparable market rates. The resulting fair value adjustment is recorded in the form of premium or discount to the unpaid principal balance of each acquired loan. As it relates to acquired PCD loans, the net premium or net discount is adjusted to reflect the Company's allowance for credit losses ("ACL") recorded for PCD loans at the time of acquisition, and the remaining fair value adjustment is accreted or amortized into interest income over the remaining life of the loan. As it relates to acquired loans not classified as PCD ("non-PCD") loans, the credit loss and yield components of the fair value adjustments are aggregated, and the resulting net premium or net discount is accreted or amortized into
interest income over the average remaining life of those loans. The Company records an ACL for non-PCD loans at the time of acquisition through provision expense, and therefore, no further adjustments are made to the net premium or net discount for non-PCD loans.
The estimated fair value of the non-PCD loans acquired in the BBI acquisition was $460.0 million, which is net of a $8.8 million discount. The gross contractual amounts receivable of the acquired non-PCD loans at acquisition was approximately $468.8 million, of which $6.4 million is the amount of contractual cash flows not expected to be collected.
The estimated fair value of the non-PCD acquired in the HSBI acquisition was $1.091 billion, which is net of a $33.7 million discount. The gross contractual amounts receivable of the acquired non-PCD loans at acquisition was approximately $1.125 billion, of which $16.5 million is the amount of contractual cash flows not expected to be collected.
The following table shows the carrying amount of loans acquired in the BBI and HSBI acquisitions for which there was, at the date of acquisition, more than insignificant deterioration of credit quality since origination:
($ in thousands)BBIHSBI
Purchase price of loans at acquisition$27,669 $52,356 
Allowance for credit losses at acquisition1,303 3,176 
Non-credit discount (premium) at acquisition530 2,325 
Par value of acquired loans at acquisition$29,502 $57,857 
As of September 30, 2024, and December 31, 2023 the amortized cost of the Company’s PCD loans totaled $50.8 million and $57.8 million, respectively, which had an estimated ACL of $2.7 million and $3.7 million, respectively.
Loan Modifications
The Company adopted ASU No. 2022-02 effective January 1, 2023. These amendments eliminate the TDR recognition and measurement guidance and enhanced disclosures for loan modifications to borrowers experiencing financial difficulty.
Occasionally, the Company modifies loans to borrowers in financial distress by providing principal forgiveness, term extension, and other-than-insignificant payment delay or interest rate reduction. When principal forgiveness is provided, the amount of forgiveness is charged-off against the allowance for credit losses.
In some cases, the Company provides multiple types of concessions on one loan. Typically, one type of concession, such as term extension, is granted initially. If the borrower continues to experience financial difficulty, another concession, such as principal forgiveness, may be granted. For loans included in the "combination" columns below, multiple types of modifications have been made on the same loan within the current reporting period. The combination is at least two of the following: a term extension, principal forgiveness, an other-than-insignificant payment delay and/or an interest rate reduction.
The following table presents the amortized cost basis of loans that were both experiencing financial difficulty and modified during the nine months ended September 30, 2024 and September 30, 2023, by class and by type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivable is also presented below:
($ in thousands)
September 30, 2024Payment DelayPayment ModificationTerm ExtensionPercentage of Total Loans Held for Investment
Commercial, financial and agriculture $43 $100 $— 0.01 %
Commercial real estate— — 720 0.02 %
Consumer real estate— 24 761 0.06 %
Total$43 $124 $1,481 0.03 %
September 30, 2023Term ExtensionPercentage of Total Loans Held for Investment
Consumer real estate$413 0.01 %
Total$413 0.01 %
The Company has not committed to lend additional amounts to the borrowers included in the previous table.
Collateral Dependent Loans
The following table presents the amortized cost basis of collateral dependent individually evaluated loans by class of loans as of September 30, 2024 and December 31, 2023:
($ in thousands)
September 30, 2024Real PropertyEquipmentMiscellaneousTotal
Commercial, financial and agriculture$— $72 $399 $471 
Commercial real estate838 — — 838 
Consumer real estate1,762 — — 1,762 
Consumer installment— — 13 13 
Total$2,600 $72 $412 $3,084 
December 31, 2023Real PropertyEquipmentMiscellaneousTotal
Commercial, financial and agriculture$—$496 $918 $1,414 
Commercial real estate710— — 710 
Consumer real estate778— — 778 
Total$1,488$496 $918 $2,902
A loan is collateral dependent when the borrower is experiencing financial difficulty and repayment of the loan is expected to be provided substantially through the sale of the collateral. The following provides a qualitative description by class of loan of the collateral that secures the Company’s collateral dependent LHFI:
•Commercial, financial and agriculture – Loans within these loan classes are secured by equipment, inventory, accounts receivable, and other non-real estate collateral.
•Commercial real estate – Loans within these loan classes are secured by commercial real property.
•Consumer real estate - Loans within these loan classes are secured by consumer real property.
•Consumer installment - Loans within these loan classes are secured by consumer goods, equipment, and non-real estate collateral.
There have been no significant changes to the collateral that secures these financial assets during the period.
Loan Participations
The Company has loan participations, which qualify as participating interest, with other financial institutions. As of September 30, 2024, these loans totaled $325.5 million, of which $181.5 million had been sold to other financial institutions and $144.0 million was purchased by the Company. As of December 31, 2023, these loans totaled $304.0 million, of which $165.9 million had been sold to other financial institutions and $138.1 million was purchased by the Company. The loan participations convey proportionate ownership rights with equal priority to each participating interest holder; involving no recourse (other than ordinary representations and warranties) to, or subordination by, any participating interest holder; all cash flows are divided among the participating interest holders in proportion to each holder’s share of ownership; and no holder has the right to pledge the entire financial asset unless all participating interest holders agree.
Credit Quality Indicators
The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt, such as current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually to classify the loans as to credit risk. The Company uses the following definitions for risk ratings:
Pass: Loans classified as pass are deemed to possess average to superior credit quality, requiring no more than normal attention.
Special Mention: Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the Company’s credit position at some future date.
Substandard: Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.
Doubtful: Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable.
These above classifications were the most current available as of September 30, 2024, and were generally updated within the prior year.
The tables below present the amortized cost basis of loans by credit quality indicator and class of loans based on the most recent analysis performed at September 30, 2024 and December 31, 2023. Revolving loans converted to term as of the nine months ended September 30, 2024 and December 31, 2023 were not material to the total loan portfolio.
As of September 30, 2024Term Loans Amortized Cost Basis by Origination YearRevolving
Loans		Total
($ in thousands)20242023202220212020Prior
Commercial, financial and
agriculture:
Risk Rating
Pass$92,130 $88,294 $110,651 $88,411 $34,074 $80,766 $240,163 $734,489 
Special mention— 1,103 73 628 2,368 759 4,933 9,864 
Substandard— 908 544 369 293 1,530 667 4,311 
Doubtful— — — — — — — — 
Total commercial, financial and agriculture$92,130 $90,305 $111,268 $89,408 $36,735 $83,055 $245,763 $748,664 
Current period gross write offs$— $70 $159 $287 $11 $305 $— $832 
Commercial real estate:
Risk Rating
Pass$353,455 $392,267 $824,061 $512,024 $340,788 $720,312 $3,364 $3,146,271 
Special mention1,374 — 1,340 5,827 2,929 19,831 — 31,301 
Substandard583 1,425 12,850 4,623 1,556 36,957 — 57,994 
Doubtful— — — — — — — — 
Total commercial real estate$355,412 $393,692 $838,251 $522,474 $345,273 $777,100 $3,364 $3,235,566 
Current period gross write offs$— $— $— $20 $— $71 $— $91 
Consumer real estate:
Risk Rating
Pass$141,382 $152,809 $303,506 $197,321 $117,042 $193,986 $156,879 $1,262,925 
Special mention— — 423 489 — 1,815 668 3,395 
Substandard403 1,382 3,611 1,372 2,294 8,964 2,798 20,824 
Doubtful— — — — — — — — 
Total consumer real estate$141,785 $154,191 $307,540 $199,182 $119,336 $204,765 $160,345 $1,287,144 
Current period gross write offs$— $— $357 $— $— $18 $— $375 
Consumer installment:
Risk Rating
Pass$12,992 $12,498 $7,411 $4,862 $1,628 $1,431 $6,200 $47,022 
Special mention— 52 89 9 27 — 17 194 
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Total consumer installment$12,992 $12,550 $7,500 $4,871 $1,655 $1,431 $6,217 $47,216 
Current period gross write offs$94 $289 $182 $87 $58 $882 $32 $1,624 
Total
Pass$599,959 $645,868 $1,245,629 $802,618 $493,532 $996,495 $406,606 $5,190,707 
Special mention1,374 1,155 1,925 6,953 5,324 22,405 5,618 44,754 
Substandard986 3,715 17,005 6,364 4,143 47,451 3,465 83,129 
Doubtful— — — — — — — — 
Total$602,319 $650,738 $1,264,559 $815,935 $502,999 $1,066,351 $415,689 $5,318,590 
Current period gross write offs$94 $359 $698 $394 $69 $1,276 $32 $2,922 
As of December 31, 2023Term Loans Amortized Cost Basis by Origination YearRevolving
Loans		Total
($ in thousands)20232022202120202019Prior
Commercial, financial and:
agriculture
Risk Rating
Pass$102,263 $150,420 $113,487 $47,313 $36,065 $64,020 $281,646 $795,214 
Special mention— — — 141 797 3 10 951 
Substandard451 330 121 185 550 1,894 628 4,159 
Doubtful— — — — — — — — 
Total commercial, financial and agriculture$102,714 $150,750 $113,608 $47,639 $37,412 $65,917 $282,284 $800,324 
Current period gross write offs$14 $51 $225 $139 $206 $110 $— $745 
Commercial real estate:        
Risk Rating
Pass$385,954 $825,505 $558,742 $377,085 $253,746 $569,428 $6,397 $2,976,857 
Special mention— 660 6,118 3,111 9,545 22,648 — 42,082 
Substandard136 7,293 393 566 5,427 26,401 — 40,216 
Doubtful— — — — — — — — 
Total commercial real estate$386,090 $833,458 $565,253 $380,762 $268,718 $618,477 $6,397 $3,059,155 
Current period gross write offs$— $— $193 $— $— $57 $— $250 
Consumer real estate:        
Risk Rating
Pass$176,144 $334,056 $219,071 $127,539 $59,615 $163,464 $153,821 $1,233,710 
Special mention— 1,081 — — 643 3,246 412 5,382 
Substandard502 404 511 1,559 514 6,988 3,225 13,703 
Doubtful— — — — — — — — 
Total consumer real estate$176,646 $335,541 $219,582 $129,098 $60,772 $173,698 $157,458 $1,252,795 
Current period gross write offs$5 $19 $— $— $— $25 $— $49 
Consumer installment:
Risk Rating
Pass$24,482 $12,408 $7,316 $2,919 $1,213 $1,195 $8,156 $57,689 
Special mention— — — — — — — — 
Substandard— 8 17 42 11 — 1 79 
Doubtful— — — — — — — — 
Total consumer installment$24,482 $12,416 $7,333 $2,961 $1,224 $1,195 $8,157 $57,768 
Current period gross write offs$226 $567 $223 $179 $156 $576 $121 $2,048 
Total
Pass$688,843 $1,322,389 $898,616 $554,856 $350,639 $798,107 $450,020 $5,063,470 
Special mention— 1,741 6,118 3,252 10,985 25,897 422 48,415 
Substandard1,089 8,035 1,042 2,352 6,502 35,283 3,854 58,157 
Doubtful— — — — — — — — 
Total $689,932 $1,332,165 $905,776 $560,460 $368,126 $859,287 $454,296 $5,170,042 
Current period gross write offs$245 $637 $641 $318 $362 $768 $121 $3,092 
Allowance for Credit Losses
The ACL is a valuation account that is deducted from loans’ amortized cost basis to present the net amount expected to be collected on the loans. It is comprised of a general allowance for loans that are collectively assessed in pools with similar risk characteristics and a specific allowance for individually assessed loans. The allowance is continuously monitored by management to maintain a level adequate to absorb expected losses inherent in the loan portfolio.
The ACL represents the estimated losses for financial assets accounted for on an amortized cost basis. Expected losses are calculated using relevant information, from internal and external sources, about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. Historical credit loss experience provides the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics such as differences in underwriting standards, portfolio mix, delinquency level, or term as well as for changes in environment conditions, such as changes in unemployment rates, property values, or other relevant factors. Management may selectively apply external market data to subjectively adjust the Company’s own loss history including index or peer data. Expected losses are estimated over the contractual term of the loans, adjusted for expected prepayments. The contractual term excludes expected extensions, renewals, and modifications. Loans are charged-off against the allowance when management believes the uncollectibility of a loan balance is confirmed and recoveries are credited to the allowance when received. Expected recovery amounts may not exceed the aggregate of amounts previously charged-off.
The ACL is measured on a collective basis when similar risk characteristics exist. Generally, collectively assessed loans are grouped by call code (segments). Segmenting loans by call code will group loans that contain similar types of collateral and purposes and are usually structured with similar terms making each loan’s risk profile very similar to the rest in that segment. Each of these segments then flows up into one of the four bands, Commercial, Financial, and Agriculture, Commercial Real Estate, Consumer Real Estate, and Consumer Installment. In accordance with the guidance in ASC 326, the Company redefined its LHFI portfolio segments and related loan classes based on the level at which risk is monitored within the ACL methodology. Construction loans for 1-4 family residential properties with a call code 1A1, and other construction, all land development and other land loans with a call code 1A2 were previously separated between the Commercial Real Estate or Consumer Real Estate bands based on loan type code. Under our ASC 326 methodology 1A1 loans are all defined as part of the Consumer Real Estate band and 1A2 loans are all defined as part of the Commercial Real Estate Band.
The PD calculation analyzes the historical loan portfolio over the given lookback period to identify, by segment, loans that have defaulted. A default is defined as a loan that has moved to past due 90 days and greater, nonaccrual status, or experienced a charge-off during the period. The model observes loans over a 12-month window, detecting any events previously defined. This information is then used by the model to calculate annual iterative count-based PD rates for each segment. This process is then repeated for all dates within the historical data range. These averaged PD’s are used for an immediate reversion back to the historical mean. The historical data used to calculate this input was captured by the Company from 2009 through the most recent quarter end.
The Company utilizes reasonable and supportable forecasts of future economic conditions when estimating the ACL on loans. The model’s calculation also includes a 24-month forecasted PD based on a regression model that calculated a comparison of the Company’s historical loan data to various national economic metrics during the same periods. The results showed the Company’s past losses having a high rate of correlation to unemployment, both regionally and nationally. Using this information, along with the most recently published Wall Street Journal survey of sixty economists’ forecasts predicting unemployment rates out over the next eight quarters, a corresponding future PD can be calculated for the forward-looking 24-month period. This data can also be used to predict loan losses at different levels of stress, including a baseline, adverse and severely adverse economic condition. After the forecast period, PD rates revert to the historical mean of the entire data set.
The LGD calculation is based on actual losses (charge-offs, net recoveries) at a loan level experienced over the entire lookback period aggregated to get a total for each segment of loans. The aggregate loss amount is divided by the exposure at default to determine an LGD rate. Defaults occurring during the lookback period are included in the denominator, whether a loss occurred or not and exposure at default is determined by the loan balance immediately preceding the default event. If there is not a minimum of five past defaults in a loan segment, or less than 15.0% calculated LGD rate, or the total balance at default is less than 1% of the balance in the respective call code as of the model run date, a proxy index is used. This index is proprietary to the Company’s ACL modeling vendor derived from loss data of other client institutions similar in organization structure to the Company. The vendor also provides a “crisis” index derived from loss data between the post-recessionary years of 2008-2013 that the Company uses.
The model then uses these inputs in a non-discounted version of DCF methodology to calculate the quantitative portion of estimated losses. The model creates loan level amortization schedules that detail out the expected monthly payments for a loan including estimated prepayments and payoffs. These expected cash flows are discounted back to present value using the loan’s coupon rate instead of the effective interest rate.
On a quarterly basis, the Company uses internal credit portfolio data, such as changes in portfolio volume and composition, underwriting practices, and levels of past due loans, nonaccruals and classified assets along with other external information not used in the quantitative calculation to determine if any subjective qualitative adjustments are required so that all significant risks are incorporated to form a sufficient basis to estimate credit losses.
The following table presents the activity in the allowance for credit losses by portfolio segment for the three and nine months ended September 30, 2024 and 2023:
($ in thousands)Three Months Ended September 30, 2024
Commercial,
Financial and
Agriculture		Commercial
Real Estate		Consumer
Real Estate		Consumer
Installment		Total
Allowance for credit losses:
Beginning balance$8,731 $30,101 $15,560 $741 $55,133 
Provision for credit losses349 565 (67)153 1,000 
Loans charged-off(404)— (81)(901)(1,386)
Recoveries 232 18 22 681 953 
Total ending allowance balance$8,908 $30,684 $15,434 $674 $55,700 
($ in thousands)Nine Months Ended September 30, 2024
Commercial,
Financial and
Agriculture		Commercial
Real Estate		Consumer
Real Estate		Consumer
Installment		Total
Allowance for credit losses:
Beginning balance$8,844 $29,125 $15,260 $803 $54,032 
Provision for credit losses652 1,093 493 412 2,650 
Loans charged-off(832)(91)(375)(1,624)(2,922)
Recoveries244 557 56 1,083 1,940 
Total ending allowance balance$8,908 $30,684 $15,434 $674 $55,700 
($ in thousands)Three Months Ended September 30, 2023
Commercial,
Financial and
Agriculture		Commercial
Real Estate		Consumer
Real Estate		Consumer
Installment		Total
Allowance for credit losses:
Beginning balance$8,972 $28,726 $14,123 $793 $52,614 
Provision for credit losses(709)389 919 401 1,000 
Loans charged-off(48)(27)(21)(533)(629)
Recoveries277 15 142 146 580 
Total ending allowance balance$8,492 $29,103 $15,163 $807 $53,565 
($ in thousands)Nine Months Ended September 30, 2023
Commercial,
Financial and
Agriculture		Commercial
Real Estate		Consumer
Real Estate		Consumer
Installment		Total
Allowance for credit losses:
Beginning balance$6,349$20,389$11,599$580$38,917
Initial allowance on PCD loans7272,260 18273,176 
Provision for credit losses1,5546,3803,2031,36312,500
Loans charged-off(472)(27)(45)(1,551)(2,095)
Recoveries3341012244081,067
Total ending allowance balance$8,492$29,103$15,163$807$53,565
The Company recorded $2.7 million provision for credit losses for the nine months ended September 30, 2024, compared to $12.5 million provision for the same period in 2023. During January 2023, loans totaling $1.159 billion, net of purchase accounting adjustments, were acquired in the HSBI acquisition. The initial ACL on PCD loans recorded in March 2023, of $3.2 million was related to the HSBI acquisition. The 2023 provision for credit losses includes $10.7 million associated with day one post-merger accounting provision recorded for non-PCD loans and unfunded commitments acquired in the HSBI acquisition.
The following table provides the ending balance in the Company’s LHFI and the ACL, broken down by portfolio segment as of September 30, 2024 and December 31, 2023.
($ in thousands)
September 30, 2024Commercial,
Financial and
Agriculture		Commercial
Real Estate		Consumer
Real Estate		Consumer
Installment		Total
LHFI
Individually evaluated$471 $838 $1,762 $13 $3,084 
Collectively evaluated748,193 3,234,728 1,285,382 47,203 5,315,506 
Total$748,664 $3,235,566 $1,287,144 $47,216 $5,318,590 
Allowance for Credit Losses     
Individually evaluated$190 $— $— $— $190 
Collectively evaluated8,718 30,684 15,434 674 55,510 
Total$8,908 $30,684 $15,434 $674 $55,700 
($ in thousands)
December 31, 2023Commercial,
Financial and
Agriculture		Commercial
Real Estate		Consumer
Real Estate		Consumer
Installment		Total
LHFI
Individually evaluated$1,414 $710 $778 $— $2,902 
Collectively evaluated798,910 3,058,445 1,252,017 57,768 5,167,140 
Total$800,324 $3,059,155 $1,252,795 $57,768 $5,170,042 
Allowance for Credit Losses     
Individually evaluated$408 $— $— $— $408 
Collectively evaluated8,436 29,125 15,260 803 53,624 
Total$8,844 $29,125 $15,260 $803 $54,032 
v3.24.3
DERIVATIVE FINANCIAL INSTRUMENTS
 9 Months Ended
Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE FINANCIAL INSTRUMENTS DERIVATIVE FINANCIAL INSTRUMENTS
Interest Rate Swaps
The Company enters into interest rate swap agreements primarily to facilitate the risk management strategies of certain commercial customers. The interest rate swap agreements entered into by the Company are entered into under what is referred to as a back-to-back interest rate swap, as such, the net positions are offsetting assets and liabilities, as well as income and expenses and risk participation.
Under a back-to-back interest rate swap program, all derivative instruments are recorded in the consolidated statement of financial condition at their respective fair values, as components of other assets and other liabilities. The Company enters into an interest rate swap with the customer and another offsetting swap with a counterparty. The result is two mirrored interest rate swaps, absent a credit event, which will offset in the financial statements. These swaps are not designated as hedging instruments and are recorded at fair value in other assets and other liabilities. The change in fair value is recognized in the income statement as other income and fees.
Risk participation agreements are derivative financial instruments and are recorded at fair value. These derivatives are not designated as hedges and therefore, changes in fair value are recorded directly through earnings at each reporting period. Under a risk participation-out agreement, a derivative asset, the Company participates out a portion of the credit risk associated with the interest rate swap position executed with the commercial borrower, for a fee paid to the participating bank. Under a risk participation-in agreement, a derivative liability, the Company assumes, or participates in, a portion of the credit risk associated with the interest rate swap position with the commercial borrower, for a fee received from the other bank. The Company has two risk participation-in swaps and one risk participation-out swap at September 30, 2024.
The following table provides outstanding interest rate swaps as of September 30, 2024 and December 31, 2023.

($ in thousands)
September 30, 2024December 31, 2023
Notional amount$567,891 $493,290 
Weighted average pay rate5.5 %5.2 %
Weighted average receive rate5.5 %5.2 %
Weighted average maturity in years4.965.39

The following table provides the fair value of interest rate swap contracts at September 30, 2024 and December 31, 2023 included in other assets and other liabilities.

($ in thousands)
September 30, 2024December 31, 2023
Derivative AssetsDerivative LiabilitiesDerivative AssetsDerivative Liabilities
Interest rate swap contracts$11,389 $11,388 12,170 $12,175 

The Company also enters into a collateral agreement with the counterparty requiring the Company to post cash or
cash equivalent collateral to mitigate the credit risk in the transaction. At September 30, 2024 and December 31, 2023, the Company had $650 thousand and $500 thousand, respectively, of collateral posted with its counterparties, which is included in the consolidated statement of financial condition as cash and cash equivalents as "restricted cash". The Company also receives a swap spread to compensate it for the credit exposure it takes on the customer-facing portion of the transaction and this upfront cash payment from the counterparty is recorded in other income, net of any transaction execution expenses, in the consolidated statement of operations. For the three months ended September 30, 2024, net swap spread income included in other income was $501 thousand compared to $344 thousand for the same period in 2023. For the nine months ended September 30, 2024, net swap spread income included in other income was $782 thousand and $839 thousand for the same period in 2023.

Entering into derivative contracts potentially exposes the Company to the risk of counterparties' failure to fulfill their legal obligations, including, but not limited to, potential amounts due or payable under each derivative contract. Notional principal amounts are often used to express the volume of these transactions, but the amounts potentially subject to credit risk are much smaller. The Company assesses the credit risk of its dealer counterparties by regularly monitoring publicly available credit rating information, evaluating other market indicators, and periodically reviewing detailed financials.

The Company records the fair value of its interest rate swap contracts separately within other assets and other liabilities as current accounting rules do not permit the netting of customer and counterparty fair value amounts in the consolidated statement of financial condition.
v3.24.3
RECLASSIFICATION
 9 Months Ended
Sep. 30, 2024
RECLASSIFICATION [Abstract]  
RECLASSIFICATION RECLASSIFICATION
Certain amounts in the 2023 financial statements have been reclassified for comparative purposes to conform to the current period financial statement presentation.
v3.24.3
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2024
Sep. 30, 2023
Pay vs Performance Disclosure                
Net income $ 18,571 $ 19,697 $ 20,628 $ 24,360 $ 23,779 $ 16,271 $ 58,896 $ 64,410
v3.24.3
Insider Trading Arrangements
 3 Months Ended
Sep. 30, 2024
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
v3.24.3
ACCOUNTING STANDARDS (Policies)
 9 Months Ended
Sep. 30, 2024
Accounting Changes and Error Corrections [Abstract]  
Effect of Recently Adopted Accounting Standards & New Accounting Standards That Have Not Yet Been Adopted
Effect of Recently Adopted Accounting Standards
In March 2023, FASB issued ASU No. 2023-01, Leases (Topic 842) - "Common Control Arrangements." This ASU requires entities to determine whether a related party arrangement between entities under common control is a lease. If the arrangement is determined to be a lease, an entity must classify and account for the lease on the same basis as an
arrangement with a related party. The ASU requires all entities to amortize leasehold improvements associated with common control leases over the useful life to the common control group. This guidance is effective for the Company January 1, 2024, and did not have a material impact on the Company's consolidated financial statements.
In March 2023, FASB issued ASU No. 2023-02, Investments - Equity Method and Joint Venture (Topic 323): "Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method." These amendments allow reporting entities to elect to account for qualifying tax equity investments using the proportional amortization method, regardless of the program giving rise to the related income tax credits. This guidance is effective for the Company January 1, 2024, and did not have a material impact on the Company's consolidated financial statements.
New Accounting Standards That Have Not Yet Been Adopted
In October 2023, FASB issued ASU No. 2023-06, "Disclosure Improvements: Codification Amendments in Response to the SEC's Disclosure Update and Simplification Initiative." This ASU amends the ASC to incorporate certain disclosure requirements from SEC Release No. 33-10532 - Disclosure Update and Simplification that was issued in 2018. The effective date for each amendment will be the date on which the SEC's removal of that related disclosure from Regulation S-K becomes effective, with early adoption prohibited. This guidance is not expected to have a material impact on the Company's consolidated financial statements.
In November 2023, FASB issued ASU No. 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures." This ASU amends the ASC to improve reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses. The key amendments: 1. Require that a public entity disclose, on an annual and interim basis, significant segment expenses that are regularly provided to the chief operating decision maker (CODM) and included within each reported measure of segment profit or loss. 2. Require that a public entity disclose, on an annual and interim basis, an amount for other segment items by reportable segment and a description of its composition. The other segment items category is the difference between segment revenue less the significant expenses disclosed and each reported measure of segment profit or loss. 3. Require that a public entity provide all annual disclosures about a reportable segment's profit or loss and assets currently required by FASB ASU Topic 280, Segment Reporting, in interim periods. 4. Clarify that if the CODM uses more than one measure of a segment's profit or loss in assessing segment performance and deciding how to allocate resources, a public entity may report one or more of those additional measures of segment profit. However, at least one of the reported segment profit or loss measures (or the single reported measure, if only one is disclosed) should be the measure that is most consistent with the measurement principles used in measuring the corresponding amounts in the public entity's consolidated financial statements. 5. Require that a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. 6. Require that a public entity has a single reportable segment provide all the disclosures required by the amendments in the ASU and all existing segment disclosures in Topic 280. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. This guidance is not expected to have a material impact on the Company's consolidated financial statements.
In December 2023, FASB issued ASU No. 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures." This ASU requires that a public business entity on an annual basis (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold (if the effect of those reconciling items is equal to or greater than 5 percent of the amount computed by multiplying pretax income (or loss) by the applicable statutory income tax rate). The amendments require that all entities disclose on an annual basis the following information about income taxes paid: 1. The amount of income taxes paid (net of refunds received) disaggregated by federal (national), state, and foreign taxes. 2. The amount of income taxes paid (net of refunds received) disaggregated by individual jurisdictions in which income taxes paid (net of refunds received) is equal to or greater than 5 percent of total income taxes paid (net of refunds received). The amendments also require that all entities disclose the following information: 1. Income (or loss) from continuing operations before income tax expense (or benefit) disaggregated between domestic and foreign. 2. Income tax expense (or benefit) from continuing operations disaggregated by federal (national), state, and foreign. This ASU is effective for annual periods beginning after December 15, 2024. This guidance is not expected to have a material impact on the Company's consolidated financial statements.
In March 2024, FASB issued ASU No. 2024-02, Codification Improvements - Amendments to Remove References to the Concepts Statements: This ASU amends the Codification to remove references to various concepts statements and impacts a variety of topics in the Codification. The amendments apply to all reporting entities within the scope of the affected accounting guidance, but in most instances the references removed are extraneous and not required to understand
or apply the guidance. Generally, the amendments in ASU 2024-02 are not intended to result in significant accounting changes for most entities. This ASU is effective for annual periods beginning after December 15, 2024. This guidance is not expected to have a material impact on the Company's consolidated financial statements.
v3.24.3
BUSINESS COMBINATIONS (Tables)
 9 Months Ended
Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following table summarizes the finalized fair values of the assets acquired and liabilities assumed including the goodwill generated from the transaction on January 1, 2023, along with valuation adjustments that have been made since initially reported.
($ in thousands)As Initially
Reported		Measurement
Period
Adjustments		As Adjusted
Identifiable assets:
Cash and due from banks$106,973 $(180)$106,793 
Investments172,775 — 172,775 
Loans1,155,712 — 1,155,712 
Core deposit intangible43,739 — 43,739 
Personal and real property35,963 — 35,963 
Other real estate owned857 332 1,189 
Bank owned life insurance35,579 — 35,579 
Deferred taxes6,761 (632)6,129 
Interest receivable4,349 — 4,349 
Other assets3,103 — 3,103 
Total assets1,565,811 (480)1,565,331 
Liabilities and equity:
Deposits1,392,432 — 1,392,432 
Trust Preferred9,015 — 9,015 
Other liabilities34,271 — 34,271 
Total liabilities1,435,718 — 1,435,718 
Net assets acquired130,093 (480)129,613 
Consideration paid221,538 — 221,538 
Goodwill$91,445 $480 $91,925 
The following table summarizes the finalized fair values of the assets acquired and liabilities assumed including the goodwill generated from the transaction on August 1, 2022, along with valuation adjustments that have been made since initially reported.
($ in thousands)As Initially ReportedMeasurement Period AdjustmentsAs Adjusted
Purchase price:
Cash and stock$101,470 $— $101,470 
Total purchase price101,470 — 101,470 
Identifiable assets:
Cash$23,939 $— $23,939 
Investments22,907 (264)22,643 
Loans482,903 2,268 485,171 
Other real estate8,797 (580)8,217 
Bank owned life insurance10,092 — 10,092 
Core deposit intangible9,791 — 9,791 
Personal and real property13,825 (1,868)11,957 
Deferred tax asset28,105 (970)27,135 
Other assets9,649 (414)9,235 
Total assets610,008 (1,828)608,180 
Liabilities and equity:
Deposits490,588 3 490,591 
Borrowings25,000 — 25,000 
Other liabilities14,772 — 14,772 
Total liabilities530,360 3 530,363 
Net assets acquired79,648 (1,831)77,817 
Goodwill$21,822 $1,831 $23,653 
v3.24.3
EARNINGS APPLICABLE TO COMMON SHAREHOLDERS (Tables)
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Schedule of Reconciliation of Numerators and Denominators of Basic and Diluted Computations Applicable to Common Shareholders
The following tables disclose the reconciliation of the numerators and denominators of the basic and diluted computations applicable to common shareholders.
($ in thousands, except per share amount)Three Months Ended
September 30, 2024		Three Months Ended
September 30, 2023
Net Income
(Numerator)		Shares
(Denominator)		Per
Share Data		Net Income
(Numerator)		Shares
(Denominator)		Per
Share Data
Basic earnings per share$18,571 31,516,823 $0.59 $24,360 31,405,439 $0.78 
Effect of dilutive shares:
Restricted stock grants 196,562 204,125 
Diluted earnings per share$18,571 31,713,385 $0.59 $24,360 31,609,564 $0.77 
($ in thousands, except per share amount)For the Nine Months Ended
September 30, 2024		For the Nine Months Ended
September 30, 2023
Net Income
(Numerator)		Shares
(Denominator)		Per
Share Data		Net Income
(Numerator)		Shares
(Denominator)		Per
Share Data
Basic earnings per share$58,896 31,506,556 $1.87 $64,410 31,364,420 $2.05 
Effect of dilutive shares:
Restricted stock grants169,311 199,862 
Diluted earnings per share$58,896 31,675,867 $1.86 $64,410 31,564,282 $2.04 
v3.24.3
FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK (Tables)
 9 Months Ended
Sep. 30, 2024
Risks and Uncertainties [Abstract]  
Schedule of Financial Instruments with Off-Balance Sheet Risk
The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. At September 30, 2024, and December 31, 2023, these financial instruments consisted of the following:
($ in thousands)September 30, 2024December 31, 2023
Fixed Rate
Variable RateFixed RateVariable Rate
Commitments to make loans$34,997 $50,348 $34,380 $50,226 
Unused lines of credit165,324 729,288 231,335 605,646 
Standby letters of credit13,346 15,514 15,573 13,114 
Schedule of Changes in the ACL on OBSC Exposures
Changes in the ACL on OBSC exposures were as follows for the presented periods:
($ in thousands)Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Balance at beginning of period$2,075$2,075$2,075 $1,325 
Credit loss expense related to OBSC exposures——— 750 
Balance at end of period$2,075$2,075$2,075 $2,075 
v3.24.3
FAIR VALUE DISCLOSURES AND REPORTING, THE FAIR VALUE OPTION AND FAIR VALUE MEASUREMENTS (Tables)
 9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
Schedule of Estimated Fair Values
Estimated fair values for the Company’s financial instruments are as follows, as of the dates noted:
September 30, 2024Carrying
Amount		Estimated
Fair Value		Fair Value Measurements
($ in thousands)
Quoted Prices
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Financial Instruments:
Assets:
Cash and cash equivalents$214,135 $214,135 $214,135 $— $— 
Securities available-for-sale1,060,014 1,060,014 5,181 1,028,714 26,119 
Securities held-to-maturity602,328 574,750 — 574,750 — 
Loans held for sale2,987 2,987 — 2,987 — 
Loans, net5,262,890 5,023,940 — — 5,023,940 
Accrued interest receivable33,384 33,384 — 7,342 26,042 
  Interest rate swaps11,389 11,389 — 11,352 37 
Liabilities:
Noninterest-bearing deposits$1,796,746 $1,796,746 $— $1,796,746 $— 
Interest-bearing deposits4,763,966 4,702,034 — 4,702,034 — 
Subordinated debentures123,645 112,327 — — 112,327 
FHLB and other borrowings207,500 207,500 — 207,500 — 
Accrued interest payable13,720 13,720 — 13,720 — 
  Interest rate swaps11,388 11,388 — 11,352 36 
December 31, 2023Carrying
Amount		Estimated
Fair Value		Fair Value Measurements
($ in thousands)
Quoted
Prices
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Financial Instruments:
Assets:
Cash and cash equivalents$355,147 $355,147 $355,147 $— $— 
Securities available-for-sale1,039,322 1,039,322 16,675 1,004,434 18,213 
Securities held-to-maturity654,539 615,944 — 615,944 — 
Loans held for sale2,914 2,914 — 2,914 — 
Loans, net5,116,010 4,877,935 — — 4,877,935 
Accrued interest receivable33,300 33,300 — 8,632 24,668 
Interest rate swaps12,170 12,170 — 12,129 41 
Liabilities:
Non-interest-bearing deposits$1,849,013 $1,849,013 $— $1,849,013 $— 
Interest-bearing deposits4,613,859 4,430,227 — 4,430,227 — 
Subordinated debentures123,386 109,426 — — 109,426 
FHLB and other borrowings390,000 390,000 — 390,000 — 
Accrued interest payable22,702 22,702 — 22,702 — 
Interest rate swaps12,175 12,175 — 12,129 46 
Schedule of Assets Measured at Fair Value on a Recurring Basis
Assets measured at fair value on a recurring basis are summarized below:
September 30, 2024
($ in thousands)Fair ValueFair Value Measurements Using
Quoted Prices in
Active Markets
For
Identical Assets
(Level 1)		Significant Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Assets:
Available-for-sale
U.S. Treasury$5,181 $5,181 $— $— 
Obligations of U.S. Government agencies and sponsored entities98,580 — 98,580 — 
Municipal securities420,701 — 394,611 26,090 
Mortgage-backed securities502,435 — 502,435 — 
Corporate obligations33,117 — 33,088 29 
Total available-for-sale$1,060,014 $5,181 $1,028,714 $26,119 
Loans held for sale$2,987 $— $2,987 $— 
Interest rate swaps$11,389 $— $11,352 $37 
Liabilities:
Interest rate swaps$11,388 $— $11,352 $36 
December 31, 2023
($ in thousands)
Fair ValueFair Value Measurements Using
Quoted Prices in
Active Markets
For
Identical Assets
(Level 1)		Significant Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Available-for-sale
U.S. Treasury$16,675 $16,675 $— $— 
Obligations of U.S. Government agencies and sponsored entities104,923 — 104,923 — 
Municipal securities438,466 — 420,283 18,183 
Mortgage-backed securities441,661 — 441,661 — 
Corporate obligations37,597 — 37,567 30 
Total available-for-sale$1,039,322 $16,675 $1,004,434 $18,213 
Loans held for sale$2,914 $— $2,914 $— 
Interest rate swaps$12,170 $— $12,129 $41 
Liabilities:
Interest rate swaps$12,175 $— $12,129 $46 
Schedule of Reconciliation of Activity for Assets Measured at Fair Value Based on Significant Unobservable Inputs (Level 3)
The following is a reconciliation of activity for assets measured at fair value based on significant unobservable inputs (Level 3) information.
Bank-Issued Trust
Preferred Securities
($ in thousands)20242023
Balance, January 1 $30 $31 
Paydowns(1)— 
Balance at September 30$29 $31 
Municipal Securities
($ in thousands)2024 2023
Balance, January 1 $18,183 $15,117 
Maturities, calls and paydowns(580)(532)
Transfer from level 2 to level 38,384 6,085 
Transfer from level 3 to level 2(270)— 
Unrealized gain (loss) included in comprehensive income 373 (1,177)
Balance at September 30$26,090 $19,493 
Schedule of Quantitative Information About Recurring Level 3 Fair Value Measurements
Interest Rate Swaps - Risk Participations
($ in thousands)20242023
Balance, January 1$(5)$— 
RPA-in10 11 
RPA-out(4)— 
Balance at September 30$1 $11 
The following methods and assumptions were used to estimate the fair values of the Company’s assets measured at fair value on a recurring basis at September 30, 2024 and December 31, 2023. The following tables present quantitative information about recurring Level 3 fair value measurements.
($ in thousands)
Trust Preferred SecuritiesFair ValueValuation TechniqueSignificant Unobservable
Inputs		Range of Inputs
September 30, 2024$29 Discounted cash flowProbability of default
7.09% - 7.45%
December 31, 2023$30 Discounted cash flowProbability of default
7.81% - 7.89%
Municipal SecuritiesFair ValueValuation TechniqueSignificant
Unobservable Inputs		Range of Inputs
September 30, 2024$26,090 Discounted cash flowDiscount Rate
2.60% - 5.56%
December 31, 2023$18,183 Discounted cash flowDiscount Rate
2.34% - 5.50%
Interest Rate Swaps - Risk ParticipationsFair ValueValuation TechniqueSignificant
Unobservable Inputs		Range of Inputs
September 30, 2024$1 Credit Value AdjustmentCredit Spread
225 bps - 300 bps
Recovery Rate70%
December 31, 2023$(5)Credit Value AdjustmentCredit Spread
225 bps - 300 bps
Recovery Rate70%
Schedule of Fair Value Measurement of Assets Measured at Fair Value on a Non-Recurring Basis and the Level Within the Fair Value Hierarchy
The following table presents the fair value measurement of assets measured at fair value on a non-recurring basis and the level within the fair value hierarchy in which the fair value measurements were classified at September 30, 2024 and December 31, 2023.
September 30, 2024
($ in thousands)Fair Value Measurements Using
Fair ValueQuoted Prices in
Active Markets
For
Identical Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Collateral dependent loans$2,894 $— $— $2,894 
Other real estate owned 7,314 — — 7,314 
December 31, 2023
($ in thousands)Fair Value Measurements Using
Fair ValueQuoted Prices in
Active Markets
For
Identical Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
Collateral dependent loans$2,494 $— $— $2,494 
Other real estate owned8,320 — — 8,320 
v3.24.3
SECURITIES (Tables)
 9 Months Ended
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Costs, Gross Unrealized Gains and Losses, and Estimated Fair Values
The following table summarizes the amortized cost, gross unrealized gains and losses, and estimated fair values of securities available-for-sale (“AFS”) and securities held-to-maturity at September 30, 2024 and December 31, 2023.
($ in thousands)September 30, 2024
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair
Value
Available-for-sale securities:
U.S. Treasury$5,294 $— $113 $5,181 
Obligations of U.S. government agencies and sponsored entities109,409 — 10,829 98,580 
Tax-exempt and taxable obligations of states and municipal subdivisions459,912 562 39,773 420,701 
Mortgage-backed securities - residential312,607 282 26,419 286,470 
Mortgage-backed securities - commercial228,888 2,454 15,377 215,965 
Corporate obligations35,553 — 2,436 33,117 
Total available-for-sale$1,151,663 $3,298 $94,947 $1,060,014 
Held-to-maturity:
U.S. Treasury$52,207 $— $1,306 $50,901 
Obligations of U.S. government agencies and sponsored entities32,946 3 1,003 31,946 
Tax-exempt and taxable obligations of states and municipal subdivisions245,240 8,980 12,028 242,192 
Mortgage-backed securities - residential131,045 — 11,177 119,868 
Mortgage-backed securities - commercial130,890 11 9,408 121,493 
Corporate obligations10,000 — 1,650 8,350 
Total held-to-maturity$602,328 $8,994 $36,572 $574,750 
($ in thousands)December 31, 2023
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair
Value
Available-for-sale securities:
U.S. Treasury$16,985 $— $310 $16,675 
Obligations of U.S. government agencies sponsored entities119,868 1 14,946 104,923 
Tax-exempt and taxable obligations of states and municipal subdivisions486,293 449 48,276 438,466 
Mortgage-backed securities - residential297,735 11 34,430 263,316 
Mortgage-backed securities - commercial198,944 76 20,675 178,345 
Corporate obligations41,347 — 3,750 37,597 
Total available-for-sale$1,161,172 $537 $122,387 $1,039,322 
Held-to-maturity:
U.S. Treasury$89,688 $— $2,804 $86,884 
Obligations of U.S. government agencies and sponsored entities33,659 — 1,803 31,856 
Tax-exempt and taxable obligations of states and municipal subdivisions246,908 9,566 14,697 241,777 
Mortgage-backed securities - residential141,573 — 14,237 127,336 
Mortgage-backed securities - commercial132,711 — 12,334 120,377 
Corporate obligations10,000 — 2,286 7,714 
Total held-to-maturity$654,539 $9,566 $48,161 $615,944 
Schedule of Credit Quality Debt Securities Held-to-Maturity The following table summarizes the amortized cost of debt securities held-to-maturity at September 30, 2024 and December 31, 2023, aggregated by credit quality indicators.
($ in thousands)September 30, 2024December 31, 2023
Aaa$381,093 $431,527 
Aa1/Aa2/Aa3114,940 129,751 
A1/A211,366 13,902 
BBB10,000 10,000 
Not rated84,929 69,359 
Total$602,328 $654,539 
Schedule of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity
($ in thousands)September 30, 2024
Amortized
Cost		Fair
Value
Available-for-sale:
Due less than one year$40,601 $40,444 
Due after one year through five years130,708 126,089 
Due after five years through ten years321,043 288,203 
Due greater than ten years117,816 102,843 
Mortgage-backed securities - residential312,607 286,470 
Mortgage-backed securities - commercial228,888 215,965 
Total$1,151,663 $1,060,014 
Held-to-maturity:
Due less than one year$44,181 $43,784 
Due after one year through five years30,815 29,515 
Due after five years through ten years61,196 58,841 
Due greater than ten years204,201 201,249 
Mortgage-backed securities - residential131,045 119,868 
Mortgage-backed securities - commercial130,890 121,493 
Total$602,328 $574,750 
Schedule of Securities Classified as Available-for-Sale and Held-to-Maturity with Unrealized Losses
The following table summarizes securities in an unrealized loss position for which an allowance for credit losses has not been recorded at September 30, 2024 and December 31, 2023. The securities are aggregated by major security type and length of time in a continuous unrealized loss position:
($ in thousands)September 30, 2024
Losses < 12 MonthsLosses 12 Months or >Total
Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
Available-for-sale:
U.S. Treasury$— $— $5,181 $113 $5,181 $113 
Obligations of U.S. government agencies and sponsored entities167 1 98,267 10,828 98,434 10,829 
Tax-exempt and taxable obligations of state and municipal subdivisions12,322 1,364 368,468 38,409 380,790 39,773 
Mortgage-backed securities - residential15 — 239,105 26,419 239,120 26,419 
Mortgage-backed securities - commercial466 22 157,632 15,355 158,098 15,377 
Corporate obligations— — 33,117 2,436 33,117 2,436 
Total$12,970 $1,387 $901,770 $93,560 $914,740 $94,947 
Held-to-maturity:
U.S. Treasury$— $— $50,901 $1,306 $50,901 $1,306 
Obligations of U.S. government agencies and sponsored entities— — 31,166 1,003 31,166 1,003 
Tax-exempt and taxable obligations of state and municipal subdivisions 7,297 85 101,870 11,943 109,167 12,028 
Mortgage-backed securities - residential— — 119,868 11,177 119,868 11,177 
Mortgage-backed securities - commercial— — 120,560 9,408 120,560 9,408 
Corporate obligations— — 8,350 1,650 8,350 1,650 
Total$7,297 $85 $432,715 $36,487 $440,012 $36,572 
($ in thousands)December 31, 2023
Losses < 12 MonthsLosses 12 Months or >Total
Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
Available-for-sale:
U.S. Treasury$— $— $16,675 $310 $16,675 $310 
Obligations of U.S. government agencies and sponsored entities123 — 104,495 14,946 104,618 14,946 
Tax-exempt and taxable obligations of state and municipal subdivisions20,879 1,479 389,113 46,797 409,992 48,276 
Mortgage-backed securities - residential222 2 262,012 34,428 262,234 34,430 
Mortgage-backed securities - commercial2,896 52 170,256 20,623 173,152 20,675 
Corporate obligations— — 37,597 3,750 37,597 3,750 
Total$24,120 $1,533 $980,148 $120,854 $1,004,268 $122,387 
Held-to-maturity:
U.S. Treasury$— $— $86,884 $2,804 $86,884 $2,804 
Obligations of U.S. government agencies and sponsored entities747 5 31,109 1,798 31,856 1,803 
Tax-exempt and taxable obligations of state and municipal subdivisions10,472 3,949 91,480 10,748 101,952 14,697 
Mortgage-backed securities - residential— — 127,336 14,237 127,336 14,237 
Mortgage-backed securities - commercial920 2 119,457 12,332 120,377 12,334 
Corporate obligations— — 7,714 2,286 7,714 2,286 
Total$12,139 $3,956 $463,980 $44,205 $476,119 $48,161 
v3.24.3
LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables)
 9 Months Ended
Sep. 30, 2024
Receivables [Abstract]  
Schedule of Composition of Loan Portfolio
The following table shows the composition of the loan portfolio:
($ in thousands)September 30, 2024December 31, 2023
Loans held for sale
Mortgage loans held for sale$2,987 $2,914 
Total LHFS$2,987 $2,914 
Loans held for investment
Commercial, financial and agriculture (1)$748,664 $800,324 
Commercial real estate3,235,566 3,059,155 
Consumer real estate1,287,144 1,252,795 
Consumer installment47,216 57,768 
Total loans5,318,590 5,170,042 
Less allowance for credit losses(55,700)(54,032)
Net LHFI$5,262,890 $5,116,010 
____________________________________________________________
(1)
Loan balance includes $256 thousand and $386 thousand in Paycheck Protection Program (“PPP”) loans as of September 30, 2024 and December 31, 2023, respectively.
Schedule of Company's Loans that are Past Due and Nonaccrual Loans Including PCD Loans
The following tables present the aging of the amortized cost basis in past due loans in addition to those loans classified as nonaccrual including purchase credit deteriorated (“PCD”) loans:
($ in thousands)September 30, 2024
Past Due
30 to 89
Days		Past Due
90 Days
or More and
Still Accruing		NonaccrualPCDTotal
Past Due,
Nonaccrual
and PCD		Total
LHFI		Nonaccrual
and PCD
with No ACL
Commercial, financial and agriculture (1)$2,660 $527 $667 $342 $4,196 $748,664 $270 
Commercial real estate3,962 — 8,387 456 12,805 3,235,566 837 
Consumer real estate7,440 928 3,709 2,609 14,686 1,287,144 1,643 
Consumer installment245 — 114 — 359 47,216 13 
Total$14,307 $1,455 $12,877 $3,407 $32,046 $5,318,590 $2,763 
___________________________________________________________
(1)
Total loan balance includes $256 thousand in PPP loans as of September 30, 2024.
December 31, 2023
($ in thousands)Past Due
30 to 89
Days		Past Due 90
Days or
More and
Still Accruing		NonaccrualPCDTotal
Past Due,
Nonaccrual
and PCD		Total
LHFI		Nonaccrual
and PCD
with No ACL
Commercial, financial and agriculture (1)$2,043 $313 $353 $965 $3,674 $800,324 $465 
Commercial real estate1,698 630 3,790 647 6,765 3,059,155 410 
Consumer real estate3,992 220 1,806 3,098 9,116 1,252,795 680 
Consumer installment180 — 31 — 211 57,768 — 
Total$7,913 $1,163 $5,980 $4,710 $19,766 $5,170,042 $1,555 
___________________________________________________________
(1)
Total loan balance includes $386 thousand in PPP loans as of December 31, 2023.
Schedule of Carrying Amount of Loans Acquired in Business Combination with more than Insignificant Deterioration of Credit Quality since Origination
The following table shows the carrying amount of loans acquired in the BBI and HSBI acquisitions for which there was, at the date of acquisition, more than insignificant deterioration of credit quality since origination:
($ in thousands)BBIHSBI
Purchase price of loans at acquisition$27,669 $52,356 
Allowance for credit losses at acquisition1,303 3,176 
Non-credit discount (premium) at acquisition530 2,325 
Par value of acquired loans at acquisition$29,502 $57,857 
Schedule of Modified Loans
The following table presents the amortized cost basis of loans that were both experiencing financial difficulty and modified during the nine months ended September 30, 2024 and September 30, 2023, by class and by type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivable is also presented below:
($ in thousands)
September 30, 2024Payment DelayPayment ModificationTerm ExtensionPercentage of Total Loans Held for Investment
Commercial, financial and agriculture $43 $100 $— 0.01 %
Commercial real estate— — 720 0.02 %
Consumer real estate— 24 761 0.06 %
Total$43 $124 $1,481 0.03 %
September 30, 2023Term ExtensionPercentage of Total Loans Held for Investment
Consumer real estate$413 0.01 %
Total$413 0.01 %
Schedule of Collateral Dependent Loans Evaluated by Class
The following table presents the amortized cost basis of collateral dependent individually evaluated loans by class of loans as of September 30, 2024 and December 31, 2023:
($ in thousands)
September 30, 2024Real PropertyEquipmentMiscellaneousTotal
Commercial, financial and agriculture$— $72 $399 $471 
Commercial real estate838 — — 838 
Consumer real estate1,762 — — 1,762 
Consumer installment— — 13 13 
Total$2,600 $72 $412 $3,084 
December 31, 2023Real PropertyEquipmentMiscellaneousTotal
Commercial, financial and agriculture$—$496 $918 $1,414 
Commercial real estate710— — 710 
Consumer real estate778— — 778 
Total$1,488$496 $918 $2,902
Schedule of Amortized Cost Basis of Loans by Credit Quality Indicator and Class of Loans Based on the Most Recent Analysis Performed and Risk Category of Loans by Class of Loans
The tables below present the amortized cost basis of loans by credit quality indicator and class of loans based on the most recent analysis performed at September 30, 2024 and December 31, 2023. Revolving loans converted to term as of the nine months ended September 30, 2024 and December 31, 2023 were not material to the total loan portfolio.
As of September 30, 2024Term Loans Amortized Cost Basis by Origination YearRevolving
Loans		Total
($ in thousands)20242023202220212020Prior
Commercial, financial and
agriculture:
Risk Rating
Pass$92,130 $88,294 $110,651 $88,411 $34,074 $80,766 $240,163 $734,489 
Special mention— 1,103 73 628 2,368 759 4,933 9,864 
Substandard— 908 544 369 293 1,530 667 4,311 
Doubtful— — — — — — — — 
Total commercial, financial and agriculture$92,130 $90,305 $111,268 $89,408 $36,735 $83,055 $245,763 $748,664 
Current period gross write offs$— $70 $159 $287 $11 $305 $— $832 
Commercial real estate:
Risk Rating
Pass$353,455 $392,267 $824,061 $512,024 $340,788 $720,312 $3,364 $3,146,271 
Special mention1,374 — 1,340 5,827 2,929 19,831 — 31,301 
Substandard583 1,425 12,850 4,623 1,556 36,957 — 57,994 
Doubtful— — — — — — — — 
Total commercial real estate$355,412 $393,692 $838,251 $522,474 $345,273 $777,100 $3,364 $3,235,566 
Current period gross write offs$— $— $— $20 $— $71 $— $91 
Consumer real estate:
Risk Rating
Pass$141,382 $152,809 $303,506 $197,321 $117,042 $193,986 $156,879 $1,262,925 
Special mention— — 423 489 — 1,815 668 3,395 
Substandard403 1,382 3,611 1,372 2,294 8,964 2,798 20,824 
Doubtful— — — — — — — — 
Total consumer real estate$141,785 $154,191 $307,540 $199,182 $119,336 $204,765 $160,345 $1,287,144 
Current period gross write offs$— $— $357 $— $— $18 $— $375 
Consumer installment:
Risk Rating
Pass$12,992 $12,498 $7,411 $4,862 $1,628 $1,431 $6,200 $47,022 
Special mention— 52 89 9 27 — 17 194 
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Total consumer installment$12,992 $12,550 $7,500 $4,871 $1,655 $1,431 $6,217 $47,216 
Current period gross write offs$94 $289 $182 $87 $58 $882 $32 $1,624 
Total
Pass$599,959 $645,868 $1,245,629 $802,618 $493,532 $996,495 $406,606 $5,190,707 
Special mention1,374 1,155 1,925 6,953 5,324 22,405 5,618 44,754 
Substandard986 3,715 17,005 6,364 4,143 47,451 3,465 83,129 
Doubtful— — — — — — — — 
Total$602,319 $650,738 $1,264,559 $815,935 $502,999 $1,066,351 $415,689 $5,318,590 
Current period gross write offs$94 $359 $698 $394 $69 $1,276 $32 $2,922 
As of December 31, 2023Term Loans Amortized Cost Basis by Origination YearRevolving
Loans		Total
($ in thousands)20232022202120202019Prior
Commercial, financial and:
agriculture
Risk Rating
Pass$102,263 $150,420 $113,487 $47,313 $36,065 $64,020 $281,646 $795,214 
Special mention— — — 141 797 3 10 951 
Substandard451 330 121 185 550 1,894 628 4,159 
Doubtful— — — — — — — — 
Total commercial, financial and agriculture$102,714 $150,750 $113,608 $47,639 $37,412 $65,917 $282,284 $800,324 
Current period gross write offs$14 $51 $225 $139 $206 $110 $— $745 
Commercial real estate:        
Risk Rating
Pass$385,954 $825,505 $558,742 $377,085 $253,746 $569,428 $6,397 $2,976,857 
Special mention— 660 6,118 3,111 9,545 22,648 — 42,082 
Substandard136 7,293 393 566 5,427 26,401 — 40,216 
Doubtful— — — — — — — — 
Total commercial real estate$386,090 $833,458 $565,253 $380,762 $268,718 $618,477 $6,397 $3,059,155 
Current period gross write offs$— $— $193 $— $— $57 $— $250 
Consumer real estate:        
Risk Rating
Pass$176,144 $334,056 $219,071 $127,539 $59,615 $163,464 $153,821 $1,233,710 
Special mention— 1,081 — — 643 3,246 412 5,382 
Substandard502 404 511 1,559 514 6,988 3,225 13,703 
Doubtful— — — — — — — — 
Total consumer real estate$176,646 $335,541 $219,582 $129,098 $60,772 $173,698 $157,458 $1,252,795 
Current period gross write offs$5 $19 $— $— $— $25 $— $49 
Consumer installment:
Risk Rating
Pass$24,482 $12,408 $7,316 $2,919 $1,213 $1,195 $8,156 $57,689 
Special mention— — — — — — — — 
Substandard— 8 17 42 11 — 1 79 
Doubtful— — — — — — — — 
Total consumer installment$24,482 $12,416 $7,333 $2,961 $1,224 $1,195 $8,157 $57,768 
Current period gross write offs$226 $567 $223 $179 $156 $576 $121 $2,048 
Total
Pass$688,843 $1,322,389 $898,616 $554,856 $350,639 $798,107 $450,020 $5,063,470 
Special mention— 1,741 6,118 3,252 10,985 25,897 422 48,415 
Substandard1,089 8,035 1,042 2,352 6,502 35,283 3,854 58,157 
Doubtful— — — — — — — — 
Total $689,932 $1,332,165 $905,776 $560,460 $368,126 $859,287 $454,296 $5,170,042 
Current period gross write offs$245 $637 $641 $318 $362 $768 $121 $3,092 
Schedule of Financing Receivable, Allowance for Credit Loss
The following table presents the activity in the allowance for credit losses by portfolio segment for the three and nine months ended September 30, 2024 and 2023:
($ in thousands)Three Months Ended September 30, 2024
Commercial,
Financial and
Agriculture		Commercial
Real Estate		Consumer
Real Estate		Consumer
Installment		Total
Allowance for credit losses:
Beginning balance$8,731 $30,101 $15,560 $741 $55,133 
Provision for credit losses349 565 (67)153 1,000 
Loans charged-off(404)— (81)(901)(1,386)
Recoveries 232 18 22 681 953 
Total ending allowance balance$8,908 $30,684 $15,434 $674 $55,700 
($ in thousands)Nine Months Ended September 30, 2024
Commercial,
Financial and
Agriculture		Commercial
Real Estate		Consumer
Real Estate		Consumer
Installment		Total
Allowance for credit losses:
Beginning balance$8,844 $29,125 $15,260 $803 $54,032 
Provision for credit losses652 1,093 493 412 2,650 
Loans charged-off(832)(91)(375)(1,624)(2,922)
Recoveries244 557 56 1,083 1,940 
Total ending allowance balance$8,908 $30,684 $15,434 $674 $55,700 
($ in thousands)Three Months Ended September 30, 2023
Commercial,
Financial and
Agriculture		Commercial
Real Estate		Consumer
Real Estate		Consumer
Installment		Total
Allowance for credit losses:
Beginning balance$8,972 $28,726 $14,123 $793 $52,614 
Provision for credit losses(709)389 919 401 1,000 
Loans charged-off(48)(27)(21)(533)(629)
Recoveries277 15 142 146 580 
Total ending allowance balance$8,492 $29,103 $15,163 $807 $53,565 
($ in thousands)Nine Months Ended September 30, 2023
Commercial,
Financial and
Agriculture		Commercial
Real Estate		Consumer
Real Estate		Consumer
Installment		Total
Allowance for credit losses:
Beginning balance$6,349$20,389$11,599$580$38,917
Initial allowance on PCD loans7272,260 18273,176 
Provision for credit losses1,5546,3803,2031,36312,500
Loans charged-off(472)(27)(45)(1,551)(2,095)
Recoveries3341012244081,067
Total ending allowance balance$8,492$29,103$15,163$807$53,565
The following table provides the ending balance in the Company’s LHFI and the ACL, broken down by portfolio segment as of September 30, 2024 and December 31, 2023.
($ in thousands)
September 30, 2024Commercial,
Financial and
Agriculture		Commercial
Real Estate		Consumer
Real Estate		Consumer
Installment		Total
LHFI
Individually evaluated$471 $838 $1,762 $13 $3,084 
Collectively evaluated748,193 3,234,728 1,285,382 47,203 5,315,506 
Total$748,664 $3,235,566 $1,287,144 $47,216 $5,318,590 
Allowance for Credit Losses     
Individually evaluated$190 $— $— $— $190 
Collectively evaluated8,718 30,684 15,434 674 55,510 
Total$8,908 $30,684 $15,434 $674 $55,700 
($ in thousands)
December 31, 2023Commercial,
Financial and
Agriculture		Commercial
Real Estate		Consumer
Real Estate		Consumer
Installment		Total
LHFI
Individually evaluated$1,414 $710 $778 $— $2,902 
Collectively evaluated798,910 3,058,445 1,252,017 57,768 5,167,140 
Total$800,324 $3,059,155 $1,252,795 $57,768 $5,170,042 
Allowance for Credit Losses     
Individually evaluated$408 $— $— $— $408 
Collectively evaluated8,436 29,125 15,260 803 53,624 
Total$8,844 $29,125 $15,260 $803 $54,032 
v3.24.3
DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 9 Months Ended
Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments
The following table provides outstanding interest rate swaps as of September 30, 2024 and December 31, 2023.

($ in thousands)
September 30, 2024December 31, 2023
Notional amount$567,891 $493,290 
Weighted average pay rate5.5 %5.2 %
Weighted average receive rate5.5 %5.2 %
Weighted average maturity in years4.965.39
Schedule of Derivative Liabilities at Fair Value
The following table provides the fair value of interest rate swap contracts at September 30, 2024 and December 31, 2023 included in other assets and other liabilities.

($ in thousands)
September 30, 2024December 31, 2023
Derivative AssetsDerivative LiabilitiesDerivative AssetsDerivative Liabilities
Interest rate swap contracts$11,389 $11,388 12,170 $12,175 
Schedule of Derivative Assets at Fair Value
The following table provides the fair value of interest rate swap contracts at September 30, 2024 and December 31, 2023 included in other assets and other liabilities.

($ in thousands)
September 30, 2024December 31, 2023
Derivative AssetsDerivative LiabilitiesDerivative AssetsDerivative Liabilities
Interest rate swap contracts$11,389 $11,388 12,170 $12,175 
v3.24.3
SUMMARY OF ORGANIZATION (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 9 Months Ended
Oct. 23, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2024
Sep. 30, 2023
Jul. 29, 2024
May 17, 2024
Dec. 31, 2023
Dec. 31, 2022
Organization [Line Items]                          
Common stock, par value (in dollars per share)   $ 1           $ 1     $ 1.00 $ 1  
Total assets   $ 7,966,455           $ 7,966,455       $ 7,999,345  
Loans, excluding loans held for sale               5,263,000          
Deposits   6,560,712           6,560,712       6,462,872  
Stockholders' Equity Attributable to Parent   1,011,683 $ 971,885 $ 959,912 $ 897,221 $ 899,446 $ 896,427 1,011,683 $ 897,221     $ 949,034 $ 646,663
Net income   $ 18,571 $ 19,697 $ 20,628 $ 24,360 $ 23,779 $ 16,271 $ 58,896 $ 64,410        
Dividends on common stock, per share (in dollars per share)   $ 0.25 $ 0.25 $ 0.25                  
Dividends declared (in dollars per share)   $ 0.25 $ 0.25 $ 0.25 $ 0.23 $ 0.22 $ 0.21            
Subsequent Event                          
Organization [Line Items]                          
Dividends declared (in dollars per share) $ 0.25                        
Merger Agreement With Renasant Corporation                          
Organization [Line Items]                          
Merger agreement, share conversion (in shares)                   1.00      
v3.24.3
BUSINESS COMBINATIONS - Narrative (Details) - USD ($)
$ in Thousands
 9 Months Ended 12 Months Ended
Dec. 31, 2023
Sep. 30, 2023
Jan. 01, 2023
Aug. 01, 2022
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
BUSINESS COMBINATIONS              
Goodwill $ 272,520       $ 272,520   $ 272,520
Provision for credit loss         $ 2,650 $ 13,250  
Heritage Southeast Bank              
BUSINESS COMBINATIONS              
Entity shares issued per acquiree share (in shares)     0.965        
Purchase price 221,538   $ 221,538        
Business acquisition, equity interest issued or issuable, number of shares (in shares)     6,920,422        
Cash received in lieu of fractional shares     $ 16        
Goodwill 91,925   91,445       91,925
Provision for credit loss     3,200       10,700
Core deposit intangible $ 43,739   43,739       $ 43,739
Heritage Southeast Bank | Core Deposits              
BUSINESS COMBINATIONS              
Core deposit intangible     $ 43,700        
Acquired finite-lived intangible assets, weighted average useful life     10 years        
Beach Bancorp              
BUSINESS COMBINATIONS              
Entity shares issued per acquiree share (in shares)       0.1711      
Purchase price   $ 101,470   $ 101,470      
Business acquisition, equity interest issued or issuable, number of shares (in shares)       3,498,936      
Cash received in lieu of fractional shares       $ 1      
Goodwill   23,653   21,822   23,653  
Provision for credit loss       1,300      
Core deposit intangible   $ 9,791   $ 9,791   $ 9,791  
Assumed options, additional shares       310,427      
Beach Bancorp | Core Deposits              
BUSINESS COMBINATIONS              
Acquired finite-lived intangible assets, weighted average useful life       10 years      
v3.24.3
BUSINESS COMBINATIONS - Schedule of Identifiable Assets Acquired and Liabilities Assumed (Details) - USD ($)
$ in Thousands
 12 Months Ended 14 Months Ended
Dec. 31, 2023
Sep. 30, 2023
Jan. 01, 2023
Aug. 01, 2022
Dec. 31, 2023
Sep. 30, 2023
Sep. 30, 2024
Jan. 31, 2023
Liabilities and equity:                
Goodwill $ 272,520       $ 272,520   $ 272,520  
Heritage Southeast Bank                
Identifiable assets:                
Consideration paid 221,538   $ 221,538          
Cash 106,793   106,973   106,793      
Investments 172,775   172,775   172,775      
Loans 1,155,712   1,155,712   1,155,712     $ 1,159,000
Other real estate 1,189   857   1,189      
Bank owned life insurance 35,579   35,579   35,579      
Core deposit intangible 43,739   43,739   43,739      
Personal and real property 35,963   35,963   35,963      
Deferred tax asset 6,129   6,761   6,129      
Other assets 3,103   3,103   3,103      
Interest receivable 4,349   4,349   4,349      
Total assets 1,565,331   1,565,811   1,565,331      
Liabilities and equity:                
Deposits 1,392,432   1,392,432   1,392,432      
Borrowings 9,015   9,015   9,015      
Other liabilities 34,271   34,271   34,271      
Total liabilities 1,435,718   1,435,718   1,435,718      
Net assets acquired 129,613   130,093   129,613      
Goodwill $ 91,925   $ 91,445   91,925      
Measurement Period Adjustments                
Consideration paid         0      
Cash         (180)      
Investments         0      
Loans         0      
Other real estate         332      
Bank owned life insurance         0      
Core deposit intangible         0      
Personal and real property         0      
Deferred tax asset         (632)      
Interest receivable         0      
Other assets         0      
Total assets         (480)      
Deposits         0      
Borrowings         0      
Other liabilities         0      
Total liabilities         0      
Net assets acquired         (480)      
Goodwill         $ 480      
Beach Bancorp                
Identifiable assets:                
Consideration paid   $ 101,470   $ 101,470        
Cash   23,939   23,939   $ 23,939    
Investments   22,643   22,907   22,643    
Loans   485,171   482,903   485,171    
Other real estate   8,217   8,797   8,217    
Bank owned life insurance   10,092   10,092   10,092    
Core deposit intangible   9,791   9,791   9,791    
Personal and real property   11,957   13,825   11,957    
Deferred tax asset   27,135   28,105   27,135    
Other assets   9,235   9,649   9,235    
Total assets   608,180   610,008   608,180    
Liabilities and equity:                
Deposits   490,591   490,588   490,591    
Borrowings   25,000   25,000   25,000    
Other liabilities   14,772   14,772   14,772    
Total liabilities   530,363   530,360   530,363    
Net assets acquired   77,817   79,648   77,817    
Goodwill   $ 23,653   $ 21,822   23,653    
Measurement Period Adjustments                
Consideration paid           0    
Cash           0    
Investments           (264)    
Loans           2,268    
Other real estate           (580)    
Bank owned life insurance           0    
Core deposit intangible           0    
Personal and real property           (1,868)    
Deferred tax asset           (970)    
Other assets           (414)    
Total assets           (1,828)    
Deposits           3    
Borrowings           0    
Other liabilities           0    
Total liabilities           3    
Net assets acquired           (1,831)    
Goodwill           $ 1,831    
v3.24.3
EARNINGS APPLICABLE TO COMMON SHAREHOLDERS - Narrative (Details) - shares
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2024
Sep. 30, 2023
Earnings Per Share [Abstract]                
Antidilutive securities excluded from computation of earnings per share, amount (in shares) 0     0     0 0
Shares of restricted stock granted (in shares) 2,800 2,847 141,457 2,711 45,773 118,689    
v3.24.3
EARNINGS APPLICABLE TO COMMON SHAREHOLDERS - Earnings Available to Common Stockholders (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Earnings Per Share [Abstract]        
Basic earnings per share $ 18,571 $ 24,360 $ 58,896 $ 64,410
Diluted earnings per share $ 18,571 $ 24,360 $ 58,896 $ 64,410
Shares (Denominator)        
Weighted average number of shares outstanding, basic (in shares) 31,516,823 31,405,439 31,506,556 31,364,420
Restricted stock grants (in shares) 196,562 204,125 169,311 199,862
Weighted average number of shares outstanding, diluted (in shares) 31,713,385 31,609,564 31,675,867 31,564,282
Basic earnings per share (in dollars per share) $ 0.59 $ 0.78 $ 1.87 $ 2.05
Diluted earnings per share (in dollars per share) $ 0.59 $ 0.77 $ 1.86 $ 2.04
v3.24.3
FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK - Schedule of Financial Instruments with Off-Balance Sheet Risk (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Fixed Rate    
Financial instruments with off-balance-sheet risk    
Commitments to make loans $ 34,997 $ 34,380
Unused lines of credit 165,324 231,335
Standby letters of credit 13,346 15,573
Variable Rate    
Financial instruments with off-balance-sheet risk    
Commitments to make loans 50,348 50,226
Unused lines of credit 729,288 605,646
Standby letters of credit $ 15,514 $ 13,114
v3.24.3
FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Concentration Risk [Line Items]        
Credit loss expense related to OBSC exposures $ 0 $ 0 $ 0 $ 750
Minimum | Off balance sheet risk        
Concentration Risk [Line Items]        
Debt instrument, interest rate, stated percentage 0.00%   0.00%  
Debt instrument, term     1 year  
Maximum | Off balance sheet risk        
Concentration Risk [Line Items]        
Debt instrument, interest rate, stated percentage 18.00%   18.00%  
Debt instrument, term     30 years  
v3.24.3
FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK - Schedule of Changes in the ACL on OBSC Exposures (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Off-Balance Sheet, Credit Loss, Liability [Roll Forward]        
Balance at beginning of period $ 2,075 $ 2,075 $ 2,075 $ 1,325
Credit loss expense related to OBSC exposures 0 0 0 750
Balance at end of period $ 2,075 $ 2,075 $ 2,075 $ 2,075
v3.24.3
FAIR VALUE DISCLOSURES AND REPORTING, THE FAIR VALUE OPTION AND FAIR VALUE MEASUREMENTS - Narrative (Details)
Sep. 30, 2024
Discount Rate  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Impaired loans and other real estate owned 0.10
v3.24.3
FAIR VALUE DISCLOSURES AND REPORTING, THE FAIR VALUE OPTION AND FAIR VALUE MEASUREMENTS - Schedule of Fair Values of Off-Balance Sheet Financial Instruments (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Assets:    
Cash and cash equivalents $ 214,135 $ 355,147
Securities available-for-sale 1,060,014 1,039,322
Securities held-to-maturity 574,750 615,944
Loans, net 5,262,890 5,116,010
Accrued interest receivable 33,384 33,300
Liabilities:    
Noninterest-bearing deposits 1,796,746 1,849,013
Interest-bearing deposits 4,763,966 4,613,859
Subordinated debentures 123,645 123,386
Accrued interest payable 13,720 22,702
Quoted Prices (Level 1)    
Assets:    
Cash and cash equivalents 214,135 355,147
Securities available-for-sale 5,181 16,675
Securities held-to-maturity 0 0
Loans held for sale 0 0
Loans, net 0 0
Accrued interest receivable 0 0
Liabilities:    
Noninterest-bearing deposits 0 0
Interest-bearing deposits 0 0
Subordinated debentures 0 0
FHLB and other borrowings 0 0
Accrued interest payable 0 0
Significant Other Observable Inputs (Level 2)    
Assets:    
Cash and cash equivalents 0 0
Securities available-for-sale 1,028,714 1,004,434
Securities held-to-maturity 574,750 615,944
Loans held for sale 2,987 2,914
Loans, net 0 0
Accrued interest receivable 7,342 8,632
Liabilities:    
Noninterest-bearing deposits 1,796,746 1,849,013
Interest-bearing deposits 4,702,034 4,430,227
Subordinated debentures 0 0
FHLB and other borrowings 207,500 390,000
Accrued interest payable 13,720 22,702
Significant Unobservable Inputs (Level 3)    
Assets:    
Cash and cash equivalents 0 0
Securities available-for-sale 26,119 18,213
Securities held-to-maturity 0 0
Loans held for sale 0 0
Loans, net 5,023,940 4,877,935
Accrued interest receivable 26,042 24,668
Liabilities:    
Noninterest-bearing deposits 0 0
Interest-bearing deposits 0 0
Subordinated debentures 112,327 109,426
FHLB and other borrowings 0 0
Accrued interest payable 0 0
Carrying Amount    
Assets:    
Cash and cash equivalents 214,135 355,147
Securities available-for-sale 1,060,014 1,039,322
Securities held-to-maturity 602,328 654,539
Loans held for sale 2,987 2,914
Loans, net 5,262,890 5,116,010
Accrued interest receivable 33,384 33,300
Liabilities:    
Noninterest-bearing deposits 1,796,746 1,849,013
Interest-bearing deposits 4,763,966 4,613,859
Subordinated debentures 123,645 123,386
FHLB and other borrowings 207,500 390,000
Accrued interest payable 13,720 22,702
Estimated Fair Value    
Assets:    
Cash and cash equivalents 214,135 355,147
Securities available-for-sale 1,060,014 1,039,322
Securities held-to-maturity 574,750 615,944
Loans held for sale 2,987 2,914
Loans, net 5,023,940 4,877,935
Accrued interest receivable 33,384 33,300
Liabilities:    
Noninterest-bearing deposits 1,796,746 1,849,013
Interest-bearing deposits 4,702,034 4,430,227
Subordinated debentures 112,327 109,426
FHLB and other borrowings 207,500 390,000
Accrued interest payable 13,720 22,702
Interest rate swap contracts    
Assets:    
Interest rate swaps 11,389 12,170
Liabilities:    
Interest rate swaps 11,388 12,175
Interest rate swap contracts | Quoted Prices (Level 1)    
Assets:    
Interest rate swaps 0 0
Liabilities:    
Interest rate swaps 0 0
Interest rate swap contracts | Significant Other Observable Inputs (Level 2)    
Assets:    
Interest rate swaps 11,352 12,129
Liabilities:    
Interest rate swaps 11,352 12,129
Interest rate swap contracts | Significant Unobservable Inputs (Level 3)    
Assets:    
Interest rate swaps 37 41
Liabilities:    
Interest rate swaps 36 46
Interest rate swap contracts | Carrying Amount    
Assets:    
Interest rate swaps 11,389 12,170
Liabilities:    
Interest rate swaps 11,388 12,175
Interest rate swap contracts | Estimated Fair Value    
Assets:    
Interest rate swaps 11,389 12,170
Liabilities:    
Interest rate swaps $ 11,388 $ 12,175
v3.24.3
FAIR VALUE DISCLOSURES AND REPORTING, THE FAIR VALUE OPTION AND FAIR VALUE MEASUREMENTS - Schedule of Fair Value of Assets Measured on Recurring Basis (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Securities available-for-sale $ 1,060,014 $ 1,039,322
Interest rate swap contracts    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Interest rate swaps 11,389 12,170
Interest rate swaps 11,388 12,175
Recurring basis    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Securities available-for-sale 1,060,014 1,039,322
Loans held for sale 2,987 2,914
Recurring basis | Interest rate swap contracts    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Interest rate swaps 11,389 12,170
Interest rate swaps 11,388 12,175
U.S. Treasury | Recurring basis    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Securities available-for-sale 5,181 16,675
Obligations of U.S. Government agencies and sponsored entities | Recurring basis    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Securities available-for-sale 98,580 104,923
Municipal securities | Recurring basis    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Securities available-for-sale 420,701 438,466
Mortgage-backed securities | Recurring basis    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Securities available-for-sale 502,435 441,661
Corporate obligations | Recurring basis    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Securities available-for-sale 33,117 37,597
Quoted Prices (Level 1)    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Securities available-for-sale 5,181 16,675
Loans held for sale 0 0
Quoted Prices (Level 1) | Interest rate swap contracts    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Interest rate swaps 0 0
Interest rate swaps 0 0
Quoted Prices (Level 1) | Recurring basis    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Securities available-for-sale 5,181 16,675
Loans held for sale 0 0
Quoted Prices (Level 1) | Recurring basis | Interest rate swap contracts    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Interest rate swaps 0 0
Interest rate swaps 0 0
Quoted Prices (Level 1) | U.S. Treasury | Recurring basis    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Securities available-for-sale 5,181 16,675
Quoted Prices (Level 1) | Obligations of U.S. Government agencies and sponsored entities | Recurring basis    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Securities available-for-sale 0 0
Quoted Prices (Level 1) | Municipal securities | Recurring basis    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Securities available-for-sale 0 0
Quoted Prices (Level 1) | Mortgage-backed securities | Recurring basis    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Securities available-for-sale 0 0
Quoted Prices (Level 1) | Corporate obligations | Recurring basis    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Securities available-for-sale 0 0
Significant Other Observable Inputs (Level 2)    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Securities available-for-sale 1,028,714 1,004,434
Loans held for sale 2,987 2,914
Significant Other Observable Inputs (Level 2) | Interest rate swap contracts    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Interest rate swaps 11,352 12,129
Interest rate swaps 11,352 12,129
Significant Other Observable Inputs (Level 2) | Recurring basis    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Securities available-for-sale 1,028,714 1,004,434
Loans held for sale 2,987 2,914
Significant Other Observable Inputs (Level 2) | Recurring basis | Interest rate swap contracts    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Interest rate swaps 11,352 12,129
Interest rate swaps 11,352 12,129
Significant Other Observable Inputs (Level 2) | U.S. Treasury | Recurring basis    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Securities available-for-sale 0 0
Significant Other Observable Inputs (Level 2) | Obligations of U.S. Government agencies and sponsored entities | Recurring basis    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Securities available-for-sale 98,580 104,923
Significant Other Observable Inputs (Level 2) | Municipal securities | Recurring basis    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Securities available-for-sale 394,611 420,283
Significant Other Observable Inputs (Level 2) | Mortgage-backed securities | Recurring basis    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Securities available-for-sale 502,435 441,661
Significant Other Observable Inputs (Level 2) | Corporate obligations | Recurring basis    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Securities available-for-sale 33,088 37,567
Significant Unobservable Inputs (Level 3)    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Securities available-for-sale 26,119 18,213
Loans held for sale 0 0
Significant Unobservable Inputs (Level 3) | Interest rate swap contracts    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Interest rate swaps 37 41
Interest rate swaps 36 46
Significant Unobservable Inputs (Level 3) | Recurring basis    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Securities available-for-sale 26,119 18,213
Loans held for sale 0 0
Significant Unobservable Inputs (Level 3) | Recurring basis | Interest rate swap contracts    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Interest rate swaps 37 41
Interest rate swaps 36 46
Significant Unobservable Inputs (Level 3) | U.S. Treasury | Recurring basis    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Securities available-for-sale 0 0
Significant Unobservable Inputs (Level 3) | Obligations of U.S. Government agencies and sponsored entities | Recurring basis    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Securities available-for-sale 0 0
Significant Unobservable Inputs (Level 3) | Municipal securities | Recurring basis    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Securities available-for-sale 26,090 18,183
Significant Unobservable Inputs (Level 3) | Mortgage-backed securities | Recurring basis    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Securities available-for-sale 0 0
Significant Unobservable Inputs (Level 3) | Corporate obligations | Recurring basis    
Fair Value Assets and Liabilities Measured On Recurring Basis [Line Items]    
Securities available-for-sale $ 29 $ 30
v3.24.3
FAIR VALUE DISCLOSURES AND REPORTING, THE FAIR VALUE OPTION AND FAIR VALUE MEASUREMENTS - Schedule of Reconciliation of Activity for Assets Measured at Fair Value based on Significant Unobservable (Non-market) Information (Details) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Bank-Issued Trust Preferred Securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance, January 1 $ 30 $ 31
Paydowns (1) 0
Balance at September 30 29 31
Municipal securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance, January 1 18,183 15,117
Maturities, calls and paydowns (580) (532)
Transfer from level 2 to level 3 8,384 6,085
Transfer from level 3 to level 2 (270) 0
Unrealized gain (loss) included in comprehensive income 373 (1,177)
Balance at September 30 $ 26,090 $ 19,493
v3.24.3
FAIR VALUE DISCLOSURES AND REPORTING, THE FAIR VALUE OPTION AND FAIR VALUE MEASUREMENTS - Schedule of Reconciliation of Activity for Liabilities Measured at Fair Value based on Significant Unobservable Information (Details) - Interest Rate Swaps - Risk Participations - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance, January 1 $ (5) $ 0
RPA-in 10 11
RPA-out (4) 0
Balance at September 30 $ 1 $ 11
v3.24.3
FAIR VALUE DISCLOSURES AND REPORTING, THE FAIR VALUE OPTION AND FAIR VALUE MEASUREMENTS - Schedule of Quantitative Information About Recurring Level 3 Fair Value Measurements (Details)
$ in Thousands
Sep. 30, 2024
USD ($)
Dec. 31, 2023
USD ($)
Quantitative Information About Recurring Fair Value Measurements [Line Items]    
Fair Value $ 1,060,014 $ 1,039,322
Credit Value Adjustment | Interest Rate Swaps - Risk Participations    
Quantitative Information About Recurring Fair Value Measurements [Line Items]    
Derivative liability, Fair Value $ 1 $ (5)
Credit Spread | Credit Value Adjustment | Minimum | Interest Rate Swaps - Risk Participations    
Quantitative Information About Recurring Fair Value Measurements [Line Items]    
Derivative liability, Range of Inputs 0.0225 0.0225
Credit Spread | Credit Value Adjustment | Maximum | Interest Rate Swaps - Risk Participations    
Quantitative Information About Recurring Fair Value Measurements [Line Items]    
Derivative liability, Range of Inputs 0.0300 0.0300
Recovery Rate | Credit Value Adjustment | Interest Rate Swaps - Risk Participations    
Quantitative Information About Recurring Fair Value Measurements [Line Items]    
Derivative liability, Range of Inputs 0.70 0.70
Trust Preferred Securities | Discounted cash flow    
Quantitative Information About Recurring Fair Value Measurements [Line Items]    
Fair Value $ 29 $ 30
Trust Preferred Securities | Probability of default | Discounted cash flow | Minimum    
Quantitative Information About Recurring Fair Value Measurements [Line Items]    
Range of Inputs 0.0709 0.0781
Trust Preferred Securities | Probability of default | Discounted cash flow | Maximum    
Quantitative Information About Recurring Fair Value Measurements [Line Items]    
Range of Inputs 0.0745 0.0789
Municipal securities | Discounted cash flow    
Quantitative Information About Recurring Fair Value Measurements [Line Items]    
Fair Value $ 26,090 $ 18,183
Municipal securities | Discount Rate | Discounted cash flow | Minimum    
Quantitative Information About Recurring Fair Value Measurements [Line Items]    
Range of Inputs 0.0260 0.0234
Municipal securities | Discount Rate | Discounted cash flow | Maximum    
Quantitative Information About Recurring Fair Value Measurements [Line Items]    
Range of Inputs 0.0556 0.0550
v3.24.3
FAIR VALUE DISCLOSURES AND REPORTING, THE FAIR VALUE OPTION AND FAIR VALUE MEASUREMENTS - Schedule of Fair Value Measurement of Assets Measured at Fair Value on a Non-Recurring Basis and the Level Within the Fair Value Hierarchy (Details) - Fair Value, Nonrecurring - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Collateral dependent loans    
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]    
Assets measured at fair value on a nonrecurring basis $ 2,894 $ 2,494
Other real estate owned    
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]    
Assets measured at fair value on a nonrecurring basis 7,314 8,320
Quoted Prices (Level 1) | Collateral dependent loans    
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]    
Assets measured at fair value on a nonrecurring basis 0 0
Quoted Prices (Level 1) | Other real estate owned    
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]    
Assets measured at fair value on a nonrecurring basis 0 0
Significant Other Observable Inputs (Level 2) | Collateral dependent loans    
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]    
Assets measured at fair value on a nonrecurring basis 0 0
Significant Other Observable Inputs (Level 2) | Other real estate owned    
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]    
Assets measured at fair value on a nonrecurring basis 0 0
Significant Unobservable Inputs (Level 3) | Collateral dependent loans    
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]    
Assets measured at fair value on a nonrecurring basis 2,894 2,494
Significant Unobservable Inputs (Level 3) | Other real estate owned    
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]    
Assets measured at fair value on a nonrecurring basis $ 7,314 $ 8,320
v3.24.3
SECURITIES - Schedule of Amortized Cost and Fair Value of Available-For-Sale Securities and Held-To-Maturity Securities (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Available-for-sale securities:    
Amortized Cost $ 1,151,663 $ 1,161,172
Gross Unrealized Gains 3,298 537
Gross Unrealized Losses 94,947 122,387
Securities available-for-sale 1,060,014 1,039,322
Held-to-maturity:    
Amortized Cost 602,328 654,539
Gross Unrealized Gains 8,994 9,566
Gross Unrealized Losses 36,572 48,161
Estimated Fair Value 574,750 615,944
U.S. Treasury    
Available-for-sale securities:    
Amortized Cost 5,294 16,985
Gross Unrealized Gains 0 0
Gross Unrealized Losses 113 310
Securities available-for-sale 5,181 16,675
Held-to-maturity:    
Amortized Cost 52,207 89,688
Gross Unrealized Gains 0 0
Gross Unrealized Losses 1,306 2,804
Estimated Fair Value 50,901 86,884
Obligations of U.S. government agencies and sponsored entities    
Available-for-sale securities:    
Amortized Cost 109,409 119,868
Gross Unrealized Gains 0 1
Gross Unrealized Losses 10,829 14,946
Securities available-for-sale 98,580 104,923
Held-to-maturity:    
Amortized Cost 32,946 33,659
Gross Unrealized Gains 3 0
Gross Unrealized Losses 1,003 1,803
Estimated Fair Value 31,946 31,856
Tax-exempt and taxable obligations of states and municipal subdivisions    
Available-for-sale securities:    
Amortized Cost 459,912 486,293
Gross Unrealized Gains 562 449
Gross Unrealized Losses 39,773 48,276
Securities available-for-sale 420,701 438,466
Held-to-maturity:    
Amortized Cost 245,240 246,908
Gross Unrealized Gains 8,980 9,566
Gross Unrealized Losses 12,028 14,697
Estimated Fair Value 242,192 241,777
Mortgage-backed securities - residential    
Available-for-sale securities:    
Amortized Cost 312,607 297,735
Gross Unrealized Gains 282 11
Gross Unrealized Losses 26,419 34,430
Securities available-for-sale 286,470 263,316
Held-to-maturity:    
Amortized Cost 131,045 141,573
Gross Unrealized Gains 0 0
Gross Unrealized Losses 11,177 14,237
Estimated Fair Value 119,868 127,336
Mortgage-backed securities - commercial    
Available-for-sale securities:    
Amortized Cost 228,888 198,944
Gross Unrealized Gains 2,454 76
Gross Unrealized Losses 15,377 20,675
Securities available-for-sale 215,965 178,345
Held-to-maturity:    
Amortized Cost 130,890 132,711
Gross Unrealized Gains 11 0
Gross Unrealized Losses 9,408 12,334
Estimated Fair Value 121,493 120,377
Corporate obligations    
Available-for-sale securities:    
Amortized Cost 35,553 41,347
Gross Unrealized Gains 0 0
Gross Unrealized Losses 2,436 3,750
Securities available-for-sale 33,117 37,597
Held-to-maturity:    
Amortized Cost 10,000 10,000
Gross Unrealized Gains 0 0
Gross Unrealized Losses 1,650 2,286
Estimated Fair Value $ 8,350 $ 7,714
v3.24.3
SECURITIES - Narrative (Details)
 3 Months Ended 9 Months Ended
Sep. 30, 2024
USD ($)
security
Sep. 30, 2023
USD ($)
Sep. 30, 2024
USD ($)
security
Sep. 30, 2023
USD ($)
Dec. 31, 2023
USD ($)
security
Debt and Equity Securities, FV-NI [Line Items]          
Credit loss recognized $ 0   $ 0   $ 0
Accrued interest receivable 4,400,000   4,400,000   5,200,000
Loans held for investment 5,318,590,000   5,318,590,000   5,170,042,000
Held to maturity, credit loss exposure 216,000   216,000   205,000
Amount of reserve recorded 0   0    
Accrued interest receivable of held-to-maturity securities 2,600,000   2,600,000   3,400,000
Held-to-maturity, excluding accrued interest, nonaccrual 0   0   0
Total securities pledged $ 1,115,000,000   $ 1,115,000,000   $ 1,095,000,000.000
Number of securities in the portfolio that were in an unrealized loss position | security 995   995   1,125
Equity securities $ 8,200,000   $ 8,200,000   $ 3,100,000
Equity securities unrealized gain (loss) (222,000) $ 0 (222,000) $ 0  
Financial Asset, Past Due          
Debt and Equity Securities, FV-NI [Line Items]          
Loans held for investment 0   0   0
Securities held to maturity past due 30 days 0   0   0
AFS Securities          
Debt and Equity Securities, FV-NI [Line Items]          
Credit loss recognized $ 0   $ 0   $ 0
v3.24.3
SECURITIES - Schedule of Credit Quality Indicators (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Debt and Equity Securities, FV-NI [Line Items]    
Amortized Cost $ 602,328 $ 654,539
Aaa    
Debt and Equity Securities, FV-NI [Line Items]    
Amortized Cost 381,093 431,527
Aa1/Aa2/Aa3    
Debt and Equity Securities, FV-NI [Line Items]    
Amortized Cost 114,940 129,751
A1/A2    
Debt and Equity Securities, FV-NI [Line Items]    
Amortized Cost 11,366 13,902
BBB    
Debt and Equity Securities, FV-NI [Line Items]    
Amortized Cost 10,000 10,000
Not rated    
Debt and Equity Securities, FV-NI [Line Items]    
Amortized Cost $ 84,929 $ 69,359
v3.24.3
SECURITIES - Schedule of Amortized Cost and Fair Value of Debt Securities (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Available-for-sale, Amortized Cost    
Due less than one year $ 40,601  
Due after one year through five years 130,708  
Due after five years through ten years 321,043  
Due greater than ten years 117,816  
Mortgage-backed securities - residential 312,607  
Mortgage-backed securities - commercial 228,888  
Amortized Cost 1,151,663 $ 1,161,172
Available-for-sale, Fair Value    
Due less than one year 40,444  
Due after one year through five years 126,089  
Due after five years through ten years 288,203  
Due greater than ten years 102,843  
Mortgage-backed securities - residential 286,470  
Mortgage-backed securities - commercial 215,965  
Securities available-for-sale 1,060,014 1,039,322
Held-to-maturity, Amortized Cost    
Due less than one year 44,181  
Due after one year through five years 30,815  
Due after five years through ten years 61,196  
Due greater than ten years 204,201  
Mortgage-backed securities - residential 131,045  
Mortgage-backed securities - commercial 130,890  
Total 602,328  
Held-to-maturity, Estimated Fair Value    
Due less than one year 43,784  
Due after one year through five years 29,515  
Due after five years through ten years 58,841  
Due greater than ten years 201,249  
Mortgage-backed securities - residential 119,868  
Mortgage-backed securities - commercial 121,493  
Total $ 574,750 $ 615,944
v3.24.3
SECURITIES - Schedule of Available-For-Sale Securities With Unrealized and Unrecognized Losses (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Debt and Equity Securities, FV-NI [Line Items]    
Available-for-sale, Fair value, less than 12 months $ 12,970 $ 24,120
Available-for-sale, Fair value, 12 months or longer 901,770 980,148
Available-for-sale, Fair value, total 914,740 1,004,268
Available-for-sale, Gross Unrealized losses, less than 12 months 1,387 1,533
Available-for-sale, Gross Unrealized losses, 12 months or longer 93,560 120,854
Available-for-sale, Gross Unrealized losses, total 94,947 122,387
Held-to-maturity, Fair value, less than 12 months 7,297 12,139
Held-to-maturity, Fair value, 12 months or longer 432,715 463,980
Held-to-maturity, Fair value, total 440,012 476,119
Held-to-maturity, Gross Unrealized losses, less than 12 months 85 3,956
Held-to-maturity, Gross Unrealized losses, 12 months or longer 36,487 44,205
Held-to-maturity, Unrealized losses, total 36,572 48,161
U.S. Treasury    
Debt and Equity Securities, FV-NI [Line Items]    
Available-for-sale, Fair value, less than 12 months 0 0
Available-for-sale, Fair value, 12 months or longer 5,181 16,675
Available-for-sale, Fair value, total 5,181 16,675
Available-for-sale, Gross Unrealized losses, less than 12 months 0 0
Available-for-sale, Gross Unrealized losses, 12 months or longer 113 310
Available-for-sale, Gross Unrealized losses, total 113 310
Held-to-maturity, Fair value, less than 12 months 0 0
Held-to-maturity, Fair value, 12 months or longer 50,901 86,884
Held-to-maturity, Fair value, total 50,901 86,884
Held-to-maturity, Gross Unrealized losses, less than 12 months 0 0
Held-to-maturity, Gross Unrealized losses, 12 months or longer 1,306 2,804
Held-to-maturity, Unrealized losses, total 1,306 2,804
Obligations of U.S. government agencies and sponsored entities    
Debt and Equity Securities, FV-NI [Line Items]    
Available-for-sale, Fair value, less than 12 months 167 123
Available-for-sale, Fair value, 12 months or longer 98,267 104,495
Available-for-sale, Fair value, total 98,434 104,618
Available-for-sale, Gross Unrealized losses, less than 12 months 1 0
Available-for-sale, Gross Unrealized losses, 12 months or longer 10,828 14,946
Available-for-sale, Gross Unrealized losses, total 10,829 14,946
Held-to-maturity, Fair value, less than 12 months 0 747
Held-to-maturity, Fair value, 12 months or longer 31,166 31,109
Held-to-maturity, Fair value, total 31,166 31,856
Held-to-maturity, Gross Unrealized losses, less than 12 months 0 5
Held-to-maturity, Gross Unrealized losses, 12 months or longer 1,003 1,798
Held-to-maturity, Unrealized losses, total 1,003 1,803
Tax-exempt and taxable obligations of states and municipal subdivisions    
Debt and Equity Securities, FV-NI [Line Items]    
Available-for-sale, Fair value, less than 12 months 12,322 20,879
Available-for-sale, Fair value, 12 months or longer 368,468 389,113
Available-for-sale, Fair value, total 380,790 409,992
Available-for-sale, Gross Unrealized losses, less than 12 months 1,364 1,479
Available-for-sale, Gross Unrealized losses, 12 months or longer 38,409 46,797
Available-for-sale, Gross Unrealized losses, total 39,773 48,276
Held-to-maturity, Fair value, less than 12 months 7,297 10,472
Held-to-maturity, Fair value, 12 months or longer 101,870 91,480
Held-to-maturity, Fair value, total 109,167 101,952
Held-to-maturity, Gross Unrealized losses, less than 12 months 85 3,949
Held-to-maturity, Gross Unrealized losses, 12 months or longer 11,943 10,748
Held-to-maturity, Unrealized losses, total 12,028 14,697
Mortgage-backed securities - residential    
Debt and Equity Securities, FV-NI [Line Items]    
Available-for-sale, Fair value, less than 12 months 15 222
Available-for-sale, Fair value, 12 months or longer 239,105 262,012
Available-for-sale, Fair value, total 239,120 262,234
Available-for-sale, Gross Unrealized losses, less than 12 months 0 2
Available-for-sale, Gross Unrealized losses, 12 months or longer 26,419 34,428
Available-for-sale, Gross Unrealized losses, total 26,419 34,430
Held-to-maturity, Fair value, less than 12 months 0 0
Held-to-maturity, Fair value, 12 months or longer 119,868 127,336
Held-to-maturity, Fair value, total 119,868 127,336
Held-to-maturity, Gross Unrealized losses, less than 12 months 0 0
Held-to-maturity, Gross Unrealized losses, 12 months or longer 11,177 14,237
Held-to-maturity, Unrealized losses, total 11,177 14,237
Mortgage-backed securities - commercial    
Debt and Equity Securities, FV-NI [Line Items]    
Available-for-sale, Fair value, less than 12 months 466 2,896
Available-for-sale, Fair value, 12 months or longer 157,632 170,256
Available-for-sale, Fair value, total 158,098 173,152
Available-for-sale, Gross Unrealized losses, less than 12 months 22 52
Available-for-sale, Gross Unrealized losses, 12 months or longer 15,355 20,623
Available-for-sale, Gross Unrealized losses, total 15,377 20,675
Held-to-maturity, Fair value, less than 12 months 0 920
Held-to-maturity, Fair value, 12 months or longer 120,560 119,457
Held-to-maturity, Fair value, total 120,560 120,377
Held-to-maturity, Gross Unrealized losses, less than 12 months 0 2
Held-to-maturity, Gross Unrealized losses, 12 months or longer 9,408 12,332
Held-to-maturity, Unrealized losses, total 9,408 12,334
Corporate obligations    
Debt and Equity Securities, FV-NI [Line Items]    
Available-for-sale, Fair value, less than 12 months 0 0
Available-for-sale, Fair value, 12 months or longer 33,117 37,597
Available-for-sale, Fair value, total 33,117 37,597
Available-for-sale, Gross Unrealized losses, less than 12 months 0 0
Available-for-sale, Gross Unrealized losses, 12 months or longer 2,436 3,750
Available-for-sale, Gross Unrealized losses, total 2,436 3,750
Held-to-maturity, Fair value, less than 12 months 0 0
Held-to-maturity, Fair value, 12 months or longer 8,350 7,714
Held-to-maturity, Fair value, total 8,350 7,714
Held-to-maturity, Gross Unrealized losses, less than 12 months 0 0
Held-to-maturity, Gross Unrealized losses, 12 months or longer 1,650 2,286
Held-to-maturity, Unrealized losses, total $ 1,650 $ 2,286
v3.24.3
LOANS AND ALLOWANCE FOR CREDIT LOSSES - Schedule of Composition of Loan Portfolio (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Jun. 30, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Dec. 31, 2022
Loans held for sale            
Total LHFS $ 2,987   $ 2,914      
Loans held for investment            
Loans held for investment 5,318,590   5,170,042      
Less allowance for credit losses (55,700) $ (55,133) (54,032) $ (53,565) $ (52,614) $ (38,917)
Net loans held for investment 5,262,890   5,116,010      
PPP Loans 256   386      
Mortgage loans held for sale            
Loans held for sale            
Total LHFS 2,987   2,914      
Commercial, financial and agriculture            
Loans held for investment            
Loans held for investment 748,664   800,324      
Less allowance for credit losses (8,908) (8,731) (8,844) (8,492) (8,972) (6,349)
Commercial real estate            
Loans held for investment            
Loans held for investment 3,235,566   3,059,155      
Less allowance for credit losses (30,684) (30,101) (29,125) (29,103) (28,726) (20,389)
Consumer real estate            
Loans held for investment            
Loans held for investment 1,287,144   1,252,795      
Less allowance for credit losses (15,434) (15,560) (15,260) (15,163) (14,123) (11,599)
Consumer installment            
Loans held for investment            
Loans held for investment 47,216   57,768      
Less allowance for credit losses $ (674) $ (741) $ (803) $ (807) $ (793) $ (580)
v3.24.3
LOANS AND ALLOWANCE FOR CREDIT LOSSES - Narrative (Details)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Jan. 01, 2023
USD ($)
Aug. 01, 2022
USD ($)
Sep. 30, 2024
USD ($)
categoryOfLoan
Sep. 30, 2023
USD ($)
Sep. 30, 2024
USD ($)
categoryOfLoan
Sep. 30, 2023
USD ($)
Dec. 31, 2023
USD ($)
Mar. 31, 2023
USD ($)
Jan. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Categories of loans | categoryOfLoan     4   4          
Financing receivable, accrued interest, before allowance for credit loss     $ 26,000   $ 26,000   $ 24,700      
Amortized cost, PCD loans     50,800   50,800   57,800      
PCD loans, estimated ACL     2,700   2,700   3,700      
Total loans, other financial institutions     325,500   325,500   304,000      
Loans sold to other financial institutions     181,500   181,500   165,900      
Loans purchased     144,000   $ 144,000   138,100      
LGD Rate         15.00%          
Threshold default percentage         1.00%          
Provision for credit losses, LHFI     $ 1,000 $ 1,000 $ 2,650 $ 12,500        
Initial allowance on PCD loans                   $ 3,176
Provision for credit loss         $ 2,650 13,250        
Beach Bancorp                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Business combination, acquired receivable, fair value   $ 460,000                
Discount (premium) on loans acquired   8,800                
Gross contractual amounts receivable   468,800                
Contractual cash flows not expected to be collected   6,400                
Business combination, loans   482,903   $ 485,171   $ 485,171        
Provision for credit loss   $ 1,300                
Heritage Southeast Bank                    
Accounts, Notes, Loans and Financing Receivable [Line Items]                    
Business combination, acquired receivable, fair value $ 1,091,000                  
Discount (premium) on loans acquired 33,700                  
Gross contractual amounts receivable 1,125,000                  
Contractual cash flows not expected to be collected 16,500                  
Business combination, loans 1,155,712           1,155,712   $ 1,159,000  
Initial allowance on PCD loans               $ 3,200    
Provision for credit loss $ 3,200           $ 10,700      
v3.24.3
LOANS AND ALLOWANCE FOR CREDIT LOSSES - Schedule of Loans Classified as Past Due in Excess of Thirty Days or More and Loans Classified as Non-Accrual (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Past Due 30 to 89 Days $ 14,307 $ 7,913
Past Due 90 Days or More and Still Accruing 1,455 1,163
Nonaccrual 12,877 5,980
PCD 3,407 4,710
Total Past Due, Nonaccrual and PCD 32,046 19,766
LHFI 5,318,590 5,170,042
Nonaccrual and PCD with No ACL 2,763 1,555
PPP Loans 256 386
Commercial, financial and agriculture    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Past Due 30 to 89 Days 2,660 2,043
Past Due 90 Days or More and Still Accruing 527 313
Nonaccrual 667 353
PCD 342 965
Total Past Due, Nonaccrual and PCD 4,196 3,674
LHFI 748,664 800,324
Nonaccrual and PCD with No ACL 270 465
Commercial real estate    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Past Due 30 to 89 Days 3,962 1,698
Past Due 90 Days or More and Still Accruing 0 630
Nonaccrual 8,387 3,790
PCD 456 647
Total Past Due, Nonaccrual and PCD 12,805 6,765
LHFI 3,235,566 3,059,155
Nonaccrual and PCD with No ACL 837 410
Consumer real estate    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Past Due 30 to 89 Days 7,440 3,992
Past Due 90 Days or More and Still Accruing 928 220
Nonaccrual 3,709 1,806
PCD 2,609 3,098
Total Past Due, Nonaccrual and PCD 14,686 9,116
LHFI 1,287,144 1,252,795
Nonaccrual and PCD with No ACL 1,643 680
Consumer installment    
Financing Receivable, Recorded Investment, Past Due [Line Items]    
Past Due 30 to 89 Days 245 180
Past Due 90 Days or More and Still Accruing 0 0
Nonaccrual 114 31
PCD 0 0
Total Past Due, Nonaccrual and PCD 359 211
LHFI 47,216 57,768
Nonaccrual and PCD with No ACL $ 13 $ 0
v3.24.3
LOANS AND ALLOWANCE FOR CREDIT LOSSES - Schedule of Carrying Amount of Loans Acquired in Business Combination with more than Insignificant Deterioration of Credit Quality since Origination (Details) - USD ($)
$ in Thousands
Jan. 01, 2023
Aug. 01, 2022
Beach Bancorp    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Purchase price of loans at acquisition   $ 27,669
Allowance for credit losses at acquisition   1,303
Non-credit discount (premium) at acquisition   530
Par value of acquired loans at acquisition   $ 29,502
Heritage Southeast Bank    
Financing Receivable, Allowance for Credit Losses [Line Items]    
Purchase price of loans at acquisition $ 52,356  
Allowance for credit losses at acquisition 3,176  
Non-credit discount (premium) at acquisition 2,325  
Par value of acquired loans at acquisition $ 57,857  
v3.24.3
LOANS AND ALLOWANCE FOR CREDIT LOSSES - Schedule of Amortized Cost Basis of Loans that were Modified to Borrowers by Class of Financing Receivable (Details) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Percentage of Total Loans Held for Investment 0.03% 0.01%
Payment Delay    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Payment Delay\ Payment Modification and Term Extension $ 43  
Payment Modification    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Payment Delay\ Payment Modification and Term Extension 124  
Term Extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Payment Delay\ Payment Modification and Term Extension $ 1,481 $ 413
Commercial, financial and agriculture    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Percentage of Total Loans Held for Investment 0.01%  
Commercial, financial and agriculture | Payment Delay    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Payment Delay\ Payment Modification and Term Extension $ 43  
Commercial, financial and agriculture | Payment Modification    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Payment Delay\ Payment Modification and Term Extension 100  
Commercial, financial and agriculture | Term Extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Payment Delay\ Payment Modification and Term Extension $ 0  
Commercial real estate    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Percentage of Total Loans Held for Investment 0.02%  
Commercial real estate | Payment Delay    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Payment Delay\ Payment Modification and Term Extension $ 0  
Commercial real estate | Payment Modification    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Payment Delay\ Payment Modification and Term Extension 0  
Commercial real estate | Term Extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Payment Delay\ Payment Modification and Term Extension $ 720  
Consumer real estate    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Percentage of Total Loans Held for Investment 0.06% 0.01%
Consumer real estate | Payment Delay    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Payment Delay\ Payment Modification and Term Extension $ 0  
Consumer real estate | Payment Modification    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Payment Delay\ Payment Modification and Term Extension 24  
Consumer real estate | Term Extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Payment Delay\ Payment Modification and Term Extension $ 761 $ 413
v3.24.3
LOANS AND ALLOWANCE FOR CREDIT LOSSES - Schedule of Collateral Dependent Loans (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Financing Receivable, Recorded Investment [Line Items]    
Amortized cost basis, collateral dependent loans $ 3,084 $ 2,902
Commercial, financial and agriculture    
Financing Receivable, Recorded Investment [Line Items]    
Amortized cost basis, collateral dependent loans 471 1,414
Commercial real estate    
Financing Receivable, Recorded Investment [Line Items]    
Amortized cost basis, collateral dependent loans 838 710
Consumer real estate    
Financing Receivable, Recorded Investment [Line Items]    
Amortized cost basis, collateral dependent loans 1,762 778
Consumer installment    
Financing Receivable, Recorded Investment [Line Items]    
Amortized cost basis, collateral dependent loans 13  
Real Property    
Financing Receivable, Recorded Investment [Line Items]    
Amortized cost basis, collateral dependent loans 2,600 1,488
Real Property | Commercial, financial and agriculture    
Financing Receivable, Recorded Investment [Line Items]    
Amortized cost basis, collateral dependent loans 0 0
Real Property | Commercial real estate    
Financing Receivable, Recorded Investment [Line Items]    
Amortized cost basis, collateral dependent loans 838 710
Real Property | Consumer real estate    
Financing Receivable, Recorded Investment [Line Items]    
Amortized cost basis, collateral dependent loans 1,762 778
Real Property | Consumer installment    
Financing Receivable, Recorded Investment [Line Items]    
Amortized cost basis, collateral dependent loans 0  
Equipment    
Financing Receivable, Recorded Investment [Line Items]    
Amortized cost basis, collateral dependent loans 72 496
Equipment | Commercial, financial and agriculture    
Financing Receivable, Recorded Investment [Line Items]    
Amortized cost basis, collateral dependent loans 72 496
Equipment | Commercial real estate    
Financing Receivable, Recorded Investment [Line Items]    
Amortized cost basis, collateral dependent loans 0 0
Equipment | Consumer real estate    
Financing Receivable, Recorded Investment [Line Items]    
Amortized cost basis, collateral dependent loans 0 0
Equipment | Consumer installment    
Financing Receivable, Recorded Investment [Line Items]    
Amortized cost basis, collateral dependent loans 0  
Miscellaneous    
Financing Receivable, Recorded Investment [Line Items]    
Amortized cost basis, collateral dependent loans 412 918
Miscellaneous | Commercial, financial and agriculture    
Financing Receivable, Recorded Investment [Line Items]    
Amortized cost basis, collateral dependent loans 399 918
Miscellaneous | Commercial real estate    
Financing Receivable, Recorded Investment [Line Items]    
Amortized cost basis, collateral dependent loans 0 0
Miscellaneous | Consumer real estate    
Financing Receivable, Recorded Investment [Line Items]    
Amortized cost basis, collateral dependent loans 0 $ 0
Miscellaneous | Consumer installment    
Financing Receivable, Recorded Investment [Line Items]    
Amortized cost basis, collateral dependent loans $ 13  
v3.24.3
LOANS AND ALLOWANCE FOR CREDIT LOSSES - Schedule of Amortized Cost Basis of Loans by Credit Quality Indicator and Class of Loans Based on the Most Recent Analysis Performed (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Financing Receivable, Recorded Investment [Line Items]          
Year one $ 602,319   $ 602,319   $ 689,932
Current period gross writeoffs, year one     94   245
Year two 650,738   650,738   1,332,165
Current period gross writeoffs, year two     359   637
Year three 1,264,559   1,264,559   905,776
Current period gross writeoffs, year three     698   641
Year four 815,935   815,935   560,460
Current period gross writeoffs, year four     394   318
Year five 502,999   502,999   368,126
Current period gross writeoffs, year five     69   362
More than five years 1,066,351   1,066,351   859,287
Current period gross writeoffs, prior     1,276   768
Revolving Loans 415,689   415,689   454,296
Current period gross writeoffs, revolving     32   121
Loans held for investment 5,318,590   5,318,590   5,170,042
Loans charged-off 1,386 $ 629 2,922 $ 2,095 3,092
Commercial, financial and agriculture          
Financing Receivable, Recorded Investment [Line Items]          
Year one 92,130   92,130   102,714
Current period gross writeoffs, year one     0   14
Year two 90,305   90,305   150,750
Current period gross writeoffs, year two     70   51
Year three 111,268   111,268   113,608
Current period gross writeoffs, year three     159   225
Year four 89,408   89,408   47,639
Current period gross writeoffs, year four     287   139
Year five 36,735   36,735   37,412
Current period gross writeoffs, year five     11   206
More than five years 83,055   83,055   65,917
Current period gross writeoffs, prior     305   110
Revolving Loans 245,763   245,763   282,284
Current period gross writeoffs, revolving     0   0
Loans held for investment 748,664   748,664   800,324
Loans charged-off 404 48 832 472 745
Commercial real estate          
Financing Receivable, Recorded Investment [Line Items]          
Year one 355,412   355,412   386,090
Current period gross writeoffs, year one     0   0
Year two 393,692   393,692   833,458
Current period gross writeoffs, year two     0   0
Year three 838,251   838,251   565,253
Current period gross writeoffs, year three     0   193
Year four 522,474   522,474   380,762
Current period gross writeoffs, year four     20   0
Year five 345,273   345,273   268,718
Current period gross writeoffs, year five     0   0
More than five years 777,100   777,100   618,477
Current period gross writeoffs, prior     71   57
Revolving Loans 3,364   3,364   6,397
Current period gross writeoffs, revolving     0   0
Loans held for investment 3,235,566   3,235,566   3,059,155
Loans charged-off 0 27 91 27 250
Consumer real estate          
Financing Receivable, Recorded Investment [Line Items]          
Year one 141,785   141,785   176,646
Current period gross writeoffs, year one     0   5
Year two 154,191   154,191   335,541
Current period gross writeoffs, year two     0   19
Year three 307,540   307,540   219,582
Current period gross writeoffs, year three     357   0
Year four 199,182   199,182   129,098
Current period gross writeoffs, year four     0   0
Year five 119,336   119,336   60,772
Current period gross writeoffs, year five     0   0
More than five years 204,765   204,765   173,698
Current period gross writeoffs, prior     18   25
Revolving Loans 160,345   160,345   157,458
Current period gross writeoffs, revolving     0   0
Loans held for investment 1,287,144   1,287,144   1,252,795
Loans charged-off 81 21 375 45 49
Consumer installment          
Financing Receivable, Recorded Investment [Line Items]          
Year one 12,992   12,992   24,482
Current period gross writeoffs, year one     94   226
Year two 12,550   12,550   12,416
Current period gross writeoffs, year two     289   567
Year three 7,500   7,500   7,333
Current period gross writeoffs, year three     182   223
Year four 4,871   4,871   2,961
Current period gross writeoffs, year four     87   179
Year five 1,655   1,655   1,224
Current period gross writeoffs, year five     58   156
More than five years 1,431   1,431   1,195
Current period gross writeoffs, prior     882   576
Revolving Loans 6,217   6,217   8,157
Current period gross writeoffs, revolving     32   121
Loans held for investment 47,216   47,216   57,768
Loans charged-off 901 $ 533 1,624 $ 1,551 2,048
Pass          
Financing Receivable, Recorded Investment [Line Items]          
Year one 599,959   599,959   688,843
Year two 645,868   645,868   1,322,389
Year three 1,245,629   1,245,629   898,616
Year four 802,618   802,618   554,856
Year five 493,532   493,532   350,639
More than five years 996,495   996,495   798,107
Revolving Loans 406,606   406,606   450,020
Loans held for investment 5,190,707   5,190,707   5,063,470
Pass | Commercial, financial and agriculture          
Financing Receivable, Recorded Investment [Line Items]          
Year one 92,130   92,130   102,263
Year two 88,294   88,294   150,420
Year three 110,651   110,651   113,487
Year four 88,411   88,411   47,313
Year five 34,074   34,074   36,065
More than five years 80,766   80,766   64,020
Revolving Loans 240,163   240,163   281,646
Loans held for investment 734,489   734,489   795,214
Pass | Commercial real estate          
Financing Receivable, Recorded Investment [Line Items]          
Year one 353,455   353,455   385,954
Year two 392,267   392,267   825,505
Year three 824,061   824,061   558,742
Year four 512,024   512,024   377,085
Year five 340,788   340,788   253,746
More than five years 720,312   720,312   569,428
Revolving Loans 3,364   3,364   6,397
Loans held for investment 3,146,271   3,146,271   2,976,857
Pass | Consumer real estate          
Financing Receivable, Recorded Investment [Line Items]          
Year one 141,382   141,382   176,144
Year two 152,809   152,809   334,056
Year three 303,506   303,506   219,071
Year four 197,321   197,321   127,539
Year five 117,042   117,042   59,615
More than five years 193,986   193,986   163,464
Revolving Loans 156,879   156,879   153,821
Loans held for investment 1,262,925   1,262,925   1,233,710
Pass | Consumer installment          
Financing Receivable, Recorded Investment [Line Items]          
Year one 12,992   12,992   24,482
Year two 12,498   12,498   12,408
Year three 7,411   7,411   7,316
Year four 4,862   4,862   2,919
Year five 1,628   1,628   1,213
More than five years 1,431   1,431   1,195
Revolving Loans 6,200   6,200   8,156
Loans held for investment 47,022   47,022   57,689
Special mention          
Financing Receivable, Recorded Investment [Line Items]          
Year one 1,374   1,374   0
Year two 1,155   1,155   1,741
Year three 1,925   1,925   6,118
Year four 6,953   6,953   3,252
Year five 5,324   5,324   10,985
More than five years 22,405   22,405   25,897
Revolving Loans 5,618   5,618   422
Loans held for investment 44,754   44,754   48,415
Special mention | Commercial, financial and agriculture          
Financing Receivable, Recorded Investment [Line Items]          
Year one 0   0   0
Year two 1,103   1,103   0
Year three 73   73   0
Year four 628   628   141
Year five 2,368   2,368   797
More than five years 759   759   3
Revolving Loans 4,933   4,933   10
Loans held for investment 9,864   9,864   951
Special mention | Commercial real estate          
Financing Receivable, Recorded Investment [Line Items]          
Year one 1,374   1,374   0
Year two 0   0   660
Year three 1,340   1,340   6,118
Year four 5,827   5,827   3,111
Year five 2,929   2,929   9,545
More than five years 19,831   19,831   22,648
Revolving Loans 0   0   0
Loans held for investment 31,301   31,301   42,082
Special mention | Consumer real estate          
Financing Receivable, Recorded Investment [Line Items]          
Year one 0   0   0
Year two 0   0   1,081
Year three 423   423   0
Year four 489   489   0
Year five 0   0   643
More than five years 1,815   1,815   3,246
Revolving Loans 668   668   412
Loans held for investment 3,395   3,395   5,382
Special mention | Consumer installment          
Financing Receivable, Recorded Investment [Line Items]          
Year one 0   0   0
Year two 52   52   0
Year three 89   89   0
Year four 9   9   0
Year five 27   27   0
More than five years 0   0   0
Revolving Loans 17   17   0
Loans held for investment 194   194   0
Substandard          
Financing Receivable, Recorded Investment [Line Items]          
Year one 986   986   1,089
Year two 3,715   3,715   8,035
Year three 17,005   17,005   1,042
Year four 6,364   6,364   2,352
Year five 4,143   4,143   6,502
More than five years 47,451   47,451   35,283
Revolving Loans 3,465   3,465   3,854
Loans held for investment 83,129   83,129   58,157
Substandard | Commercial, financial and agriculture          
Financing Receivable, Recorded Investment [Line Items]          
Year one 0   0   451
Year two 908   908   330
Year three 544   544   121
Year four 369   369   185
Year five 293   293   550
More than five years 1,530   1,530   1,894
Revolving Loans 667   667   628
Loans held for investment 4,311   4,311   4,159
Substandard | Commercial real estate          
Financing Receivable, Recorded Investment [Line Items]          
Year one 583   583   136
Year two 1,425   1,425   7,293
Year three 12,850   12,850   393
Year four 4,623   4,623   566
Year five 1,556   1,556   5,427
More than five years 36,957   36,957   26,401
Revolving Loans 0   0   0
Loans held for investment 57,994   57,994   40,216
Substandard | Consumer real estate          
Financing Receivable, Recorded Investment [Line Items]          
Year one 403   403   502
Year two 1,382   1,382   404
Year three 3,611   3,611   511
Year four 1,372   1,372   1,559
Year five 2,294   2,294   514
More than five years 8,964   8,964   6,988
Revolving Loans 2,798   2,798   3,225
Loans held for investment 20,824   20,824   13,703
Substandard | Consumer installment          
Financing Receivable, Recorded Investment [Line Items]          
Year one 0   0   0
Year two 0   0   8
Year three 0   0   17
Year four 0   0   42
Year five 0   0   11
More than five years 0   0   0
Revolving Loans 0   0   1
Loans held for investment 0   0   79
Doubtful          
Financing Receivable, Recorded Investment [Line Items]          
Year one 0   0   0
Year two 0   0   0
Year three 0   0   0
Year four 0   0   0
Year five 0   0   0
More than five years 0   0   0
Revolving Loans 0   0   0
Loans held for investment 0   0   0
Doubtful | Commercial, financial and agriculture          
Financing Receivable, Recorded Investment [Line Items]          
Year one 0   0   0
Year two 0   0   0
Year three 0   0   0
Year four 0   0   0
Year five 0   0   0
More than five years 0   0   0
Revolving Loans 0   0   0
Loans held for investment 0   0   0
Doubtful | Commercial real estate          
Financing Receivable, Recorded Investment [Line Items]          
Year one 0   0   0
Year two 0   0   0
Year three 0   0   0
Year four 0   0   0
Year five 0   0   0
More than five years 0   0   0
Revolving Loans 0   0   0
Loans held for investment 0   0   0
Doubtful | Consumer real estate          
Financing Receivable, Recorded Investment [Line Items]          
Year one 0   0   0
Year two 0   0   0
Year three 0   0   0
Year four 0   0   0
Year five 0   0   0
More than five years 0   0   0
Revolving Loans 0   0   0
Loans held for investment 0   0   0
Doubtful | Consumer installment          
Financing Receivable, Recorded Investment [Line Items]          
Year one 0   0   0
Year two 0   0   0
Year three 0   0   0
Year four 0   0   0
Year five 0   0   0
More than five years 0   0   0
Revolving Loans 0   0   0
Loans held for investment $ 0   $ 0   $ 0
v3.24.3
LOANS AND ALLOWANCE FOR CREDIT LOSSES - Schedule of Activity in Allowance for Credit Losses (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Allowance for loan losses:          
Beginning balance $ 55,133 $ 52,614 $ 54,032 $ 38,917 $ 38,917
Initial allowance on PCD loans       3,176 3,176
Provision for credit losses 1,000 1,000 2,650 12,500  
Loans charged-off (1,386) (629) (2,922) (2,095) (3,092)
Recoveries 953 580 1,940 1,067  
Total ending allowance balance 55,700 53,565 55,700 53,565 54,032
Commercial, financial and agriculture          
Allowance for loan losses:          
Beginning balance 8,731 8,972 8,844 6,349 6,349
Initial allowance on PCD loans       727 727
Provision for credit losses 349 (709) 652 1,554  
Loans charged-off (404) (48) (832) (472) (745)
Recoveries 232 277 244 334  
Total ending allowance balance 8,908 8,492 8,908 8,492 8,844
Commercial real estate          
Allowance for loan losses:          
Beginning balance 30,101 28,726 29,125 20,389 20,389
Initial allowance on PCD loans       2,260 2,260
Provision for credit losses 565 389 1,093 6,380  
Loans charged-off 0 (27) (91) (27) (250)
Recoveries 18 15 557 101  
Total ending allowance balance 30,684 29,103 30,684 29,103 29,125
Consumer real estate          
Allowance for loan losses:          
Beginning balance 15,560 14,123 15,260 11,599 11,599
Initial allowance on PCD loans       182 182
Provision for credit losses (67) 919 493 3,203  
Loans charged-off (81) (21) (375) (45) (49)
Recoveries 22 142 56 224  
Total ending allowance balance 15,434 15,163 15,434 15,163 15,260
Consumer installment          
Allowance for loan losses:          
Beginning balance 741 793 803 580 580
Initial allowance on PCD loans       7 7
Provision for credit losses 153 401 412 1,363  
Loans charged-off (901) (533) (1,624) (1,551) (2,048)
Recoveries 681 146 1,083 408  
Total ending allowance balance $ 674 $ 807 $ 674 $ 807 $ 803
v3.24.3
LOANS AND ALLOWANCE FOR CREDIT LOSSES - Schedule of Loans and Allowance for Loan Losses, Broken Down by Portfolio Segment (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Jun. 30, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]            
LHFI $ 5,318,590   $ 5,170,042      
Allowance for Credit Losses 55,700 $ 55,133 54,032 $ 53,565 $ 52,614 $ 38,917
Commercial, financial and agriculture            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
LHFI 748,664   800,324      
Allowance for Credit Losses 8,908 8,731 8,844 8,492 8,972 6,349
Commercial real estate            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
LHFI 3,235,566   3,059,155      
Allowance for Credit Losses 30,684 30,101 29,125 29,103 28,726 20,389
Consumer real estate            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
LHFI 1,287,144   1,252,795      
Allowance for Credit Losses 15,434 15,560 15,260 15,163 14,123 11,599
Consumer installment            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
LHFI 47,216   57,768      
Allowance for Credit Losses 674 $ 741 803 $ 807 $ 793 $ 580
Individually evaluated            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
LHFI 3,084   2,902      
Allowance for Credit Losses 190   408      
Individually evaluated | Commercial, financial and agriculture            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
LHFI 471   1,414      
Allowance for Credit Losses 190   408      
Individually evaluated | Commercial real estate            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
LHFI 838   710      
Allowance for Credit Losses 0   0      
Individually evaluated | Consumer real estate            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
LHFI 1,762   778      
Allowance for Credit Losses 0   0      
Individually evaluated | Consumer installment            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
LHFI 13   0      
Allowance for Credit Losses 0   0      
Collectively evaluated            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
LHFI 5,315,506   5,167,140      
Allowance for Credit Losses 55,510   53,624      
Collectively evaluated | Commercial, financial and agriculture            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
LHFI 748,193   798,910      
Allowance for Credit Losses 8,718   8,436      
Collectively evaluated | Commercial real estate            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
LHFI 3,234,728   3,058,445      
Allowance for Credit Losses 30,684   29,125      
Collectively evaluated | Consumer real estate            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
LHFI 1,285,382   1,252,017      
Allowance for Credit Losses 15,434   15,260      
Collectively evaluated | Consumer installment            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
LHFI 47,203   57,768      
Allowance for Credit Losses $ 674   $ 803      
v3.24.3
DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Derivative Instruments (Details) - Interest rate swap contracts
$ in Thousands
Sep. 30, 2024
USD ($)
Dec. 31, 2023
USD ($)
Derivative [Line Items]    
Notional amount $ 567,891 $ 493,290
Weighted average pay rate 0.055 0.052
Weighted average receive rate 0.055 0.052
Weighted average maturity in years 4 years 11 months 15 days 5 years 4 months 20 days
v3.24.3
DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of Derivative Liabilities/Assets at Fair Value (Details) - Interest rate swap contracts - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Derivative [Line Items]    
Derivative Assets $ 11,389 $ 12,170
Derivative Liabilities $ 11,388 $ 12,175
v3.24.3
DERIVATIVE FINANCIAL INSTRUMENTS - Narrative (Details)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
USD ($)
derivative
Sep. 30, 2023
USD ($)
Sep. 30, 2024
USD ($)
derivative
Sep. 30, 2023
USD ($)
Dec. 31, 2023
USD ($)
Risk Participation-In Swap          
Derivative [Line Items]          
Derivative, number of instruments held | derivative 2   2    
Risk Participation-Out Swap          
Derivative [Line Items]          
Derivative, number of instruments held | derivative 1   1    
Interest rate swap contracts          
Derivative [Line Items]          
Collateralized agreements | $ $ 650   $ 650   $ 500
Swap spread income, net | $ $ 501 $ 344 $ 782 $ 839