FB FINANCIAL CORP, 10-Q filed on 11/4/2024
Quarterly Report
v3.24.3
Cover - shares
 9 Months Ended
Sep. 30, 2024
Oct. 31, 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 001-37875  
Entity Registrant Name FB FINANCIAL CORPORATION  
Entity Incorporation, State or Country Code TN  
Entity Tax Identification Number 62-1216058  
Entity Address, Address Line One 1221 Broadway  
Entity Address, Address Line Two Suite 1300  
Entity Address, City or Town Nashville  
Entity Address, State or Province TN  
Entity Address, Postal Zip Code 37203  
City Area Code 615  
Local Phone Number 564-1212  
Title of 12(b) Security Common Stock, Par Value $1.00 Per Share  
Trading Symbol FBK  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Reporting Company false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   46,662,052
Amendment Flag false  
Document Fiscal Year Focus 2024  
Document Fiscal Period Focus Q3  
Entity Central Index Key 0001649749  
Current Fiscal Year End Date --12-31  
v3.24.3
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
ASSETS    
Cash and due from banks $ 126,470 $ 146,542
Federal funds sold and reverse repurchase agreements 97,299 83,324
Interest-bearing deposits in financial institutions 727,981 581,066
Cash and cash equivalents 951,750 810,932
Investments:    
Available-for-sale debt securities, at fair value 1,567,922 1,471,973
Federal Home Loan Bank stock, at cost 32,859 34,190
Loans held for sale (includes $72,608 and $46,618 at fair value, respectively) 103,145 67,847
Loans held for investment 9,478,129 9,408,783
Less: allowance for credit losses on loans HFI 156,260 150,326
Net loans held for investment 9,321,869 9,258,457
Premises and equipment, net 152,572 155,731
Operating lease right-of-use assets 47,346 54,295
Interest receivable 52,228 52,715
Mortgage servicing rights, at fair value 157,097 164,249
Bank-owned life insurance 72,167 76,143
Other real estate owned, net 3,779 3,192
Goodwill 242,561 242,561
Core deposit and other intangibles, net 6,449 8,709
Other assets 208,478 203,409
Total assets 12,920,222 12,604,403
Deposits    
Noninterest-bearing 2,226,144 2,218,382
Interest-bearing checking 2,754,253 2,504,421
Money market and savings 4,098,496 4,204,851
Customer time deposits 1,378,118 1,469,811
Brokered and internet time deposits 519,200 150,822
Total deposits 10,976,211 10,548,287
Borrowings 182,107 390,964
Operating lease liabilities 59,584 67,643
Accrued expenses and other liabilities 139,898 142,622
Total liabilities 11,357,800 11,149,516
SHAREHOLDERS’ EQUITY    
Common stock, $1 par value per share; 75,000,000 shares authorized; 46,658,019 and 46,848,934 shares issued and outstanding, respectively 46,658 46,849
Additional paid-in capital 858,106 864,258
Retained earnings 732,435 678,412
Accumulated other comprehensive loss, net (74,870) (134,725)
Total FB Financial Corporation common shareholders’ equity 1,562,329 1,454,794
Noncontrolling interest 93 93
Total equity 1,562,422 1,454,887
Total liabilities and shareholders’ equity $ 12,920,222 $ 12,604,403
v3.24.3
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Fair value of loan held for sale $ 103,145 $ 67,847
Common stock, par value (in dollars per share) $ 1 $ 1
Common stock, shares authorized (in shares) 75,000,000 75,000,000
Common stock, shares issued (in shares) 46,658,019 46,848,934
Common stock, shares outstanding (in shares) 46,658,019 46,848,934
 Fair Value    
Fair value of loan held for sale $ 72,608 $ 46,618
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 income:        
Interest and fees on loans $ 158,625 $ 153,882 $ 469,610 $ 443,458
Interest on investment securities        
Taxable 13,943 6,399 35,014 19,449
Tax-exempt 1,104 1,795 3,714 5,407
Other 11,956 11,836 30,831 35,261
Total interest income 185,628 173,912 539,169 503,575
Interest expense:        
Deposits 76,088 69,826 220,214 187,946
Borrowings 3,523 3,160 10,833 9,500
Total interest expense 79,611 72,986 231,047 197,446
Net interest income 106,017 100,926 308,122 306,129
Provision for credit losses on loans HFI 1,856 6,031 7,648 13,603
Provision for (reversal of) credit losses on unfunded commitments 58 (3,210) (2,728) (11,369)
Net interest income after provision for credit losses 104,103 98,105 303,202 303,895
Noninterest income:        
Loss from investment securities, net (40,165) (14,197) (56,378) (14,156)
(Loss) gain on sales or write-downs of other real estate owned and other assets (289) 115 (5) 465
Other income 2,465 1,456 8,786 7,491
Total noninterest (loss) income (16,497) 8,042 17,073 55,204
Noninterest expenses:        
Salaries, commissions and employee benefits 47,538 54,491 138,381 155,299
Occupancy and equipment expense 6,640 6,428 19,582 18,618
Data processing 2,486 2,338 7,180 6,796
Advertising 1,947 2,124 4,977 6,258
Legal and professional fees 1,900 1,760 5,798 7,067
Amortization of core deposit and other intangibles 719 889 2,260 2,819
Other expense 14,982 14,967 45,547 47,872
Total noninterest expense 76,212 82,997 223,725 244,729
Income before income taxes 11,394 23,150 96,550 114,370
Income tax expense 1,174 3,975 18,393 23,507
Net income applicable to FB Financial Corporation and noncontrolling interest 10,220 19,175 78,157 90,863
Net income applicable to noncontrolling interest 0 0 8 8
Net income applicable to FB Financial Corporation $ 10,220 $ 19,175 $ 78,149 $ 90,855
Earnings per common share:        
Basic (in dollars per share) $ 0.22 $ 0.41 $ 1.67 $ 1.94
Diluted (in dollars per share) $ 0.22 $ 0.41 $ 1.67 $ 1.94
Mortgage banking income        
Noninterest income:        
Mortgage banking income, service charges on deposit accounts, investment services and trust income, ATM and interchange fees $ 11,553 $ 11,998 $ 36,048 $ 36,316
Investment services and trust income        
Noninterest income:        
Mortgage banking income, service charges on deposit accounts, investment services and trust income, ATM and interchange fees 3,721 3,072 10,338 8,227
Service charges on deposit accounts        
Noninterest income:        
Mortgage banking income, service charges on deposit accounts, investment services and trust income, ATM and interchange fees 3,378 2,959 9,686 9,197
ATM and interchange fees        
Noninterest income:        
Mortgage banking income, service charges on deposit accounts, investment services and trust income, ATM and interchange fees $ 2,840 $ 2,639 $ 8,598 $ 7,664
v3.24.3
Consolidated Statements of Comprehensive Income - 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 $ 10,220 $ 19,175 $ 78,157 $ 90,863
Other comprehensive income (loss), net of tax:        
Net unrealized gain (loss) in available-for-sale securities, net of tax expense (benefit) of $9,621, $(13,819), $6,674 and $(11,650) 27,265 (39,316) 18,597 (33,110)
Reclassification adjustment for loss on sale of securities included in net income, net of tax benefit of $10,467, $3,674, $14,692 and $3,674 29,698 10,426 41,686 10,426
Net unrealized loss in hedging activities, net of tax benefit of $21, $35, $151 and $99 (59) (101) (428) (281)
Total other comprehensive income (loss), net of tax 56,904 (28,991) 59,855 (22,965)
Comprehensive income (loss) applicable to FB Financial Corporation and noncontrolling interest 67,124 (9,816) 138,012 67,898
Comprehensive income applicable to noncontrolling interest 0 0 8 8
Comprehensive income (loss) applicable to FB Financial Corporation $ 67,124 $ (9,816) $ 138,004 $ 67,890
v3.24.3
Consolidated Statements of Comprehensive Income (Parenthetical) - 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 tax (benefits) expenses on net change in unrealized gain (loss) on available-for-sale securities $ 9,621 $ (13,819) $ 6,674 $ (11,650)
Net tax benefits on reclassification adjustment for loss on sale of securities included in net income 10,467 3,674 14,692 3,674
Net tax expenses (benefits) recognized on net change in unrealized gain (loss) on hedging activities $ (21) $ (35) $ (151) $ (99)
v3.24.3
Consolidated Statements of Changes in Shareholders' Equity - USD ($)
$ in Thousands
Total
RSUs
PSUs
Total common shareholders’ equity
Total common shareholders’ equity
RSUs
Total common shareholders’ equity
PSUs
Common stock
Common stock
RSUs
Common stock
PSUs
Additional paid-in capital
Additional paid-in capital
RSUs
Additional paid-in capital
PSUs
Retained earnings
Accumulated other comprehensive loss, net
Noncontrolling interest
Beginning balance at Dec. 31, 2022 $ 1,325,518     $ 1,325,425     $ 46,738     $ 861,588     $ 586,532 $ (169,433) $ 93
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Net income attributable to FB Financial Corporation and noncontrolling interest 90,863     90,855                 90,855   8
Other comprehensive income (loss), net of taxes (22,965)     (22,965)                   (22,965)  
Repurchase of common stock (4,944)     (4,944)     (136)     (4,808)          
Stock based compensation expense 8,317     8,317     7     8,310          
Restricted stock and performance-based restricted stock units vested, net of taxes   $ (1,928) $ (1,315)   $ (1,928) $ (1,315)   $ 141 $ 68   $ (2,069) $ (1,383)      
Shares issued under employee stock purchase program 723     723     21     702          
Dividends declared (21,267)     (21,267)                 (21,267)    
Noncontrolling interest distribution (8)                           (8)
Ending balance at Sep. 30, 2023 1,372,994     1,372,901     46,839     862,340     656,120 (192,398) 93
Beginning balance at Jun. 30, 2023 1,387,044     1,386,951     46,799     859,516     644,043 (163,407) 93
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Net income attributable to FB Financial Corporation and noncontrolling interest 19,175     19,175                 19,175   0
Other comprehensive income (loss), net of taxes (28,991)     (28,991)                   (28,991)  
Stock based compensation expense 2,784     2,784     1     2,783          
Restricted stock and performance-based restricted stock units vested, net of taxes   (322)     (322)     26     (348)        
Shares issued under employee stock purchase program 402     402     13     389          
Dividends declared (7,098)     (7,098)                 (7,098)    
Ending balance at Sep. 30, 2023 1,372,994     1,372,901     46,839     862,340     656,120 (192,398) 93
Beginning balance at Dec. 31, 2023 1,454,887     1,454,794     46,849     864,258     678,412 (134,725) 93
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Net income attributable to FB Financial Corporation and noncontrolling interest 78,157     78,149                 78,149   8
Other comprehensive income (loss), net of taxes 59,855     59,855                   59,855  
Repurchase of common stock (12,699)     (12,699)     (353)     (12,346)          
Stock based compensation expense 7,261     7,261     5     7,256          
Restricted stock and performance-based restricted stock units vested, net of taxes   (1,443) $ (344)   (1,443) $ (344)   106 $ 30   (1,549) $ (374)      
Shares issued under employee stock purchase program 882     882     21     861          
Dividends declared (24,126)     (24,126)                 (24,126)    
Noncontrolling interest distribution (8)                           (8)
Ending balance at Sep. 30, 2024 1,562,422     1,562,329     46,658     858,106     732,435 (74,870) 93
Beginning balance at Jun. 30, 2024 1,500,595     1,500,502     46,643     855,391     730,242 (131,774) 93
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Net income attributable to FB Financial Corporation and noncontrolling interest 10,220     10,220                 10,220   0
Other comprehensive income (loss), net of taxes 56,904     56,904                   56,904  
Stock based compensation expense 2,351     2,351     1     2,350          
Restricted stock and performance-based restricted stock units vested, net of taxes   $ (104)     $ (104)     $ 4     $ (108)        
Shares issued under employee stock purchase program 483     483     10     473          
Dividends declared (8,027)     (8,027)                 (8,027)    
Ending balance at Sep. 30, 2024 $ 1,562,422     $ 1,562,329     $ 46,658     $ 858,106     $ 732,435 $ (74,870) $ 93
v3.24.3
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Statement of Stockholders' Equity [Abstract]        
Dividends declared (in dollars per share) $ 0.17 $ 0.15 $ 0.51 $ 0.45
v3.24.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income attributable to FB Financial Corporation and noncontrolling interest $ 78,157 $ 90,863
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of fixed assets and software 8,957 7,361
Amortization of core deposit and other intangibles 2,260 2,819
Amortization of issuance costs on subordinated debt 290 290
Capitalization of mortgage servicing rights (4,067) (6,134)
Net change in fair value of mortgage servicing rights 11,219 1,789
Stock-based compensation expense 7,261 8,317
Provision for credit losses on loans HFI 7,648 13,603
Provision for (reversal of) credit losses on unfunded commitments (2,728) (11,369)
Provision for (reversal of) mortgage loan repurchases 200 (650)
Accretion of discounts and premiums on acquired loans, net (538) (617)
Amortization of premiums and discounts on securities, net 2,787 3,959
Loss from investment securities, net 56,378 14,156
Originations of loans held for sale (913,315) (970,131)
Proceeds from sale of loans held for sale 911,650 1,013,584
Gain on sale and change in fair value of loans held for sale (26,008) (25,847)
Net loss (gain) on write-downs of other real estate owned and other assets 5 (465)
(Reversal of) provision for deferred income taxes (3,895) 1,660
Earnings on bank-owned life insurance (3,296) (1,382)
Changes in:    
Operating lease assets and liabilities, net (1,110) 1,591
Other assets and interest receivable (22,170) (14,596)
Accrued expenses and other liabilities 4,985 7,911
Net cash provided by operating activities 114,670 136,712
Activity in available-for-sale securities:    
Sales 526,076 75,857
Maturities, prepayments and calls 224,070 91,361
Purchases (823,976) (82,829)
Net change in loans (73,631) 21,419
Proceeds from sales of FHLB stock, net 1,331 23,832
Purchases of premises and equipment (4,977) (16,563)
Proceeds from the sale of premises and equipment 489 105
Proceeds from the sale of other real estate owned 1,846 5,692
Proceeds from the sale of other assets 898 1,197
Proceeds from bank-owned life insurance 7,272 236
Net cash (used in) provided by investing activities (140,602) 120,307
Cash flows from financing activities:    
Net increase (decrease) in deposits 423,427 (219,798)
Net decrease in securities sold under agreements to repurchase and federal funds purchased (89,056) (12,240)
Repayment of Bank Term Funding Program (130,000) 0
Net decrease in short-term FHLB advances 0 (175,000)
Share based compensation withholding payments (1,787) (3,243)
Net proceeds from sale of common stock under employee stock purchase program 882 723
Repurchase of common stock (12,699) (4,944)
Dividends paid on common stock (23,847) (21,026)
Dividend equivalent payments made upon vesting of equity compensation (162) (217)
Noncontrolling interest distribution (8) (8)
Net cash provided by (used in) financing activities 166,750 (435,753)
Net change in cash and cash equivalents 140,818 (178,734)
Cash and cash equivalents at beginning of the period 810,932 1,027,052
Cash and cash equivalents at end of the period 951,750 848,318
Supplemental cash flow information:    
Interest paid 229,275 185,513
Taxes paid, net 34,173 37,875
Supplemental noncash disclosures:    
Transfers from loans to other real estate owned 2,400 657
Transfers from loans to other assets 3,316 2,233
Transfers from other real estate owned to other assets 0 75
Transfers from loans to loans held for sale 167 11,351
Transfers from loans held for sale to loans 1,850 3,076
Loans provided for sales of other assets 924 516
Increase (decrease) in rebooked GNMA loans under optional repurchase program 9,308 (4,137)
Trade date payable - securities 0 10,930
Trade date receivable - securities 365 789
Dividends declared not paid on restricted stock units and performance stock units 279 241
Right-of-use assets obtained in exchange for operating lease liabilities $ 3,925 $ 5,617
v3.24.3
Basis of Presentation
 9 Months Ended
Sep. 30, 2024
Accounting Policies [Abstract]  
Basis of Presentation Basis of presentation
Overview and presentation
FB Financial Corporation (the “Company”) is a financial holding company headquartered in Nashville, Tennessee. The Company operates primarily through its wholly-owned subsidiary bank, FirstBank (the “Bank”) and its subsidiaries. As of September 30, 2024, the Bank had 77 full-service branches throughout Tennessee, Alabama, Kentucky and North Georgia, and a mortgage business with office locations across the Southeast, which primarily originates loans to be sold to third party private investors or government sponsored agencies in the secondary market.
The unaudited consolidated financial statements, including the notes thereto, have been prepared in accordance with U.S. GAAP interim reporting requirements and general banking industry guidelines, and therefore, do not include all information and notes included in the annual consolidated financial statements in conformity with GAAP. These interim consolidated financial statements and notes thereto should be read in conjunction with the Company’s audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K.
The unaudited consolidated financial statements include all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the results for the interim periods. The results for interim periods are not necessarily indicative of results for a full year.
In preparing the financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported results of operations for the reporting periods and the related disclosures. Although management’s estimates contemplate current conditions and how they are expected to change in the future, it is reasonably possible that actual conditions could vary from those anticipated, which could cause the Company’s financial condition and results of operations to vary significantly from those estimates.
Certain prior period amounts have been reclassified to conform to the current period presentation without any impact on the reported amounts of net income or shareholders’ equity.
Earnings per common share
Basic earnings per common share excludes dilution and is computed by dividing earnings attributable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share includes the dilutive effect of additional potential common shares issuable under the restricted stock units granted but not yet vested and distributable. Diluted earnings per common share is computed by dividing earnings attributable to common shareholders by the weighted average number of common shares outstanding for the year, plus an incremental number of common-equivalent shares computed using the treasury stock method.
Certain restricted stock awards granted by the Company include non-forfeitable dividend equivalent rights and are considered participating securities for the purposes of computing earnings per common share. Accordingly, the Company is required to calculate basic and diluted earnings per common share using the two-class method. Calculation of earnings per common share under the two-class method (i) excludes from the numerator any dividends paid or owed on participating securities and any undistributed earnings considered to be attributable to participating securities and (ii) excludes from the denominator the dilutive impact of the participating securities.
The following is a summary of the basic and diluted earnings per common share calculations for each of the periods presented:
 Three Months Ended September 30,Nine Months Ended September 30,
 2024 2023 20242023
Basic earnings per common share:
Net income applicable to FB Financial Corporation$10,220 $19,175 $78,149 $90,855 
Dividends paid on and undistributed earnings allocated to participating securities— — — — 
Earnings available to common shareholders$10,220 $19,175 $78,149 $90,855 
Weighted average basic shares outstanding46,650,563 46,818,612 46,762,213 46,759,703 
Basic earnings per common share$0.22 $0.41 $1.67 $1.94 
Diluted earnings per common share:
Earnings available to common shareholders$10,220 $19,175 $78,149 $90,855 
Weighted average basic shares outstanding46,650,563 46,818,612 46,762,213 46,759,703 
Weighted average diluted shares contingently issuable(1)
152,767 37,810 111,824 42,840 
Weighted average diluted shares outstanding46,803,330 46,856,422 46,874,037 46,802,543 
Diluted earnings per common share$0.22 $0.41 $1.67 $1.94 
(1) Excludes 4 and 904 restricted stock units outstanding considered to be antidilutive for the three and nine months ended September 30, 2024 and 217,546 and 218,815 restricted stock units outstanding considered to be antidilutive for the three and nine months ended September 30, 2023.
Recently adopted accounting standards:
In June 2022, the FASB issued ASU 2022-03, “Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions.” The FASB issued this update to clarify the guidance in ASC 820, “Fair Value Measurement,” when measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of an equity security, to amend a related illustrative example, and to introduce new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value in accordance with Topic 820. The Company adopted this update effective January 1, 2024. The adoption did not have an impact on the Company’s consolidated financial statements or related disclosures.
In March 2023, the FASB issued ASU 2023-01, “Leases (Topic 842): Common Control Arrangements” as part of the Post-Implementation Review process of ASC 842, “Leases,” around related party arrangements between entities under common control. Under previous guidance, a lessee is generally required to amortize leasehold improvements that it owns over the shorter of the useful life of those improvements or the lease term. However, due to the nature of leasehold improvements made under leases between entities under common control, ASU 2023-01 requires a lessee in a common-control arrangement to amortize such leasehold improvements that it owns over the improvements’ useful life to the common control group, regardless of the lease term. The Company adopted this standard on January 1, 2024 on a prospective basis. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements or related disclosures.
Additionally, in March 2023, the FASB issued ASU 2023-02, “Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method.” The amendments in this update permit reporting entities to elect to account for tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. The Company adopted this standard effective January 1, 2024. The adoption of this accounting pronouncement did not have an impact on the Company’s historical consolidated financial statements but could influence the Company’s decisions with respect to investments in certain tax credits prospectively.
Newly issued not yet effective accounting standards:
In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” The amendments in this update are intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant expenses. The ASU requires disclosures to include significant segment expenses that are regularly provided to the chief operating decision maker, a description of other segment items by reportable segment, and any additional measures of a segment's profit or loss used by the chief operating decision maker when deciding how to allocate resources. The ASU also requires all annual disclosures currently
required by Topic 280, “Segment Reporting,” to be included in interim periods. This update is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted, and retrospective application is required for all periods presented. While the Company is continuing to evaluate the impact, ASU 2023-07 is not expected to have a material impact on the Company’s reportable segments disclosures.
In December 2023, the FASB issued ASU 2023-08, “Intangibles – Goodwill and Other-Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets.” This update requires entities to present crypto assets measured at fair value separately from other intangible assets on the balance sheet and reflect changes from remeasurement in the net income. Additionally, an entity that receives crypto assets as noncash consideration in the ordinary course of business and converts them nearly immediately into cash is required to classify those cash receipts as cash flows from operating activities. Lastly, the update requires entities to provide interim and annual disclosures about the types of crypto assets they hold and any changes in their holdings of crypto assets. While the Company does not currently hold or facilitate transactions with crypto assets, the Company is evaluating the potential future financial statement and disclosure impact from adopting this guidance when it becomes applicable based on the Company’s crypto asset activities.
In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” The amendments in this update enhance the transparency and decision usefulness of income tax disclosures. This ASU requires disclosures of specific categories and disaggregation of information in the rate reconciliation table. The ASU also requires disclosure of disaggregated information related to income taxes paid, income or loss from continuing operations before income tax expense or benefit, and income tax expense or benefit from continuing operations. The requirements of the ASU are effective for annual periods beginning after December 15, 2024. Early adoption is permitted, and the amendments should be applied on a prospective basis. Retrospective application is permitted. The Company is evaluating the impact this will have on the Company’s income tax disclosures.
Subsequent events
The Company has evaluated, for consideration of recognition or disclosure, subsequent events that occurred through the date of issuance of these financial statements. The Company has determined that there were no subsequent events that occurred after September 30, 2024, but prior to the issuance of these financial statements that would have a material impact on the Company’s consolidated financial statements.
v3.24.3
Investment Securities
 9 Months Ended
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Investment Securities Investment securities
The following tables summarize the amortized cost, allowance for credit losses and fair value of the AFS debt securities and the corresponding amounts of unrealized gains and losses recognized in accumulated other comprehensive loss, net at September 30, 2024 and December 31, 2023:  
September 30, 2024
 Amortized cost Gross unrealized gains Gross unrealized losses Allowance for credit losses on investments Fair Value
Investment Securities    
AFS debt securities  
U.S. government agency securities$515,775 $1,401 $(343)$— $516,833 
Mortgage-backed securities - residential968,294 1,471 (90,176)— 879,589 
Mortgage-backed securities - commercial 17,147 — (858)— 16,289 
Municipal securities170,865 143 (16,779)— 154,229 
Corporate securities998 — (16)— 982 
Total$1,673,079 $3,015 $(108,172)$— $1,567,922 
December 31, 2023
 Amortized costGross unrealized gains Gross unrealized losses Allowance for credit losses on investmentsFair Value
Investment Securities    
AFS debt securities    
U.S. government agency securities$204,663 $470 $(1,177)$— $203,956 
Mortgage-backed securities - residential1,057,389 — (160,418)— 896,971 
Mortgage-backed securities - commercial18,186 — (1,225)— 16,961 
Municipal securities263,312 370 (21,419)— 242,263 
U.S. Treasury securities111,729 — (3,233)— 108,496 
Corporate securities3,500 — (174)— 3,326 
Total$1,658,779 $840 $(187,646)$— $1,471,973 
The components of amortized cost for AFS debt securities on the consolidated balance sheets exclude accrued interest receivable since the Company elected to present accrued interest receivable separately on the consolidated balance sheets. As of September 30, 2024 and December 31, 2023, total accrued interest receivable on AFS debt securities was $5,848 and $7,212, respectively.
AFS debt securities pledged at September 30, 2024 and December 31, 2023 had carrying amounts of $1,057,384 and $929,546, respectively, and were pledged to secure a Federal Reserve line of credit, public deposits and repurchase agreements. Additionally at December 31, 2023, AFS debt securities were pledged to secure Bank Term Funding Program borrowings.
Within AFS debt securities, there were no aggregate holdings of any single issuer, other than U.S. Government sponsored enterprises, in an amount greater than 10% of shareholders’ equity during any period presented.
AFS debt securities transactions are recorded as of the trade date. At September 30, 2024, there were $365 in trade date receivables related to sales settled after period end. At December 31, 2023, there were no such trade date receivables. At both September 30, 2024 and December 31, 2023, there were no trade date payables that related to purchases settled after period end.
The following tables show gross unrealized losses on AFS debt securities for which an allowance for credit losses has not been recorded at September 30, 2024 and December 31, 2023, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:
September 30, 2024
 Less than 12 months12 months or moreTotal
 Fair ValueGross Unrealized Loss Fair ValueGross Unrealized LossFair ValueGross Unrealized Loss
U.S. government agency securities$143,783 $(338)$816 $(5)$144,599 $(343)
Mortgage-backed securities - residential— — 470,625 (90,176)470,625 (90,176)
Mortgage-backed securities - commercial— — 16,289 (858)16,289 (858)
Municipal securities23,993 (1,772)115,191 (15,007)139,184 (16,779)
Corporate securities— — 982 (16)982 (16)
Total$167,776 $(2,110)$603,903 $(106,062)$771,679 $(108,172)
 December 31, 2023
 Less than 12 months12 months or moreTotal
 Fair ValueGross Unrealized LossFair ValueGross Unrealized LossFair ValueGross Unrealized Loss
U.S. government agency securities$25,923 $(21)$14,040 $(1,156)$39,963 $(1,177)
Mortgage-backed securities - residential— — 896,971 (160,418)896,971 (160,418)
Mortgage-backed securities - commercial— — 16,961 (1,225)16,961 (1,225)
Municipal securities14,480 (148)188,669 (21,271)203,149 (21,419)
U.S. Treasury securities— — 108,496 (3,233)108,496 (3,233)
Corporate securities— — 3,326 (174)3,326 (174)
Total$40,403 $(169)$1,228,463 $(187,477)$1,268,866 $(187,646)
As of September 30, 2024 and December 31, 2023, the Company’s AFS debt securities portfolio consisted of 266 and 439 individual securities, 207 and 370 of which were in an unrealized loss position, respectively.
The majority of the investment portfolio was either government guaranteed, an issuance of a government sponsored entity or highly rated by major credit rating agencies, and the Company has historically not recorded any credit losses associated with these investments. Municipal debt securities with market values below amortized cost at September 30, 2024 were reviewed for material credit events and/or rating downgrades with individual credit reviews performed. The issuers of these AFS debt securities continue to make timely principal and interest payments under the contractual terms of the securities and the issuers will continue to be observed as a part of the Company’s ongoing credit monitoring. As such, as of September 30, 2024 and December 31, 2023, it was determined that all AFS debt securities that experienced a decline in fair value below amortized cost basis were due to noncredit-related factors. Further, it is not likely that the Company will be required to sell these securities before recovery of their amortized cost basis. Therefore, there was no allowance for credit losses recognized on AFS debt securities as of September 30, 2024 or December 31, 2023. Periodically, AFS debt securities may be sold, or the composition of the portfolio realigned to improve yields, quality or marketability, or to implement changes in investment or asset/liability strategy, including maintaining collateral requirements and raising funds for liquidity purposes or preparing for anticipated changes in market interest rates.
The amortized cost and fair value of AFS debt securities by contractual maturity as of September 30, 2024 and December 31, 2023 are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
September 30,December 31,
 2024 2023 
 Available-for-saleAvailable-for-sale
 Amortized costFair ValueAmortized costFair Value
Due in one year or less$1,895 $1,892 $64,776 $64,279 
Due in one to five years4,189 4,143 75,996 71,801 
Due in five to ten years229,469 228,476 51,162 49,630 
Due in over ten years452,085 437,533 391,270 372,331 
687,638 672,044 583,204 558,041 
Mortgage-backed securities - residential968,294 879,589 1,057,389 896,971 
Mortgage-backed securities - commercial17,147 16,289 18,186 16,961 
Total AFS debt securities$1,673,079 $1,567,922 $1,658,779 $1,471,973 
Sales and other dispositions of AFS debt securities were as follows:
 Three Months Ended September 30,Nine Months Ended September 30,
 2024 2023 2024 2023 
Proceeds from sales$318,194 $75,857 $526,076 $75,857 
Proceeds from maturities, prepayments and calls89,834 32,946 224,070 91,361 
Gross realized gains— 19 90 19 
Gross realized losses40,165 14,119 56,468 14,119 
Equity Securities
The Company had equity securities without readily determinable market value included in other assets on the consolidated balance sheets with carrying amounts of $23,301 and $25,191 at September 30, 2024 and December 31, 2023, respectively. Additionally, the Company had equity securities accounted for under the equity method of accounting included in other assets on the consolidated balance sheets of $20,000 at September 30, 2024. The Company also had $32,859 and $34,190 of FHLB stock carried at cost at September 30, 2024 and December 31, 2023, respectively, included separately from the other equity securities discussed above.
v3.24.3
Loans and Allowance for Credit Losses on Loans HFI
 9 Months Ended
Sep. 30, 2024
Receivables [Abstract]  
Loans and Allowance for Credit Losses on Loans HFI Loans and allowance for credit losses on loans HFI
Loans outstanding as of September 30, 2024 and December 31, 2023, by class of financing receivable are as follows:
 September 30,December 31,
 2024 2023 
Commercial and industrial$1,688,815 $1,720,733 
Construction1,079,726 1,397,313 
Residential real estate:
1-to-4 family mortgage1,612,031 1,568,552 
Residential line of credit591,049 530,912 
Multi-family mortgage654,188 603,804 
Commercial real estate:
Owner-occupied1,324,208 1,232,071 
Non-owner occupied2,048,036 1,943,525 
Consumer and other480,076 411,873 
Gross loans9,478,129 9,408,783 
Less: Allowance for credit losses on loans HFI(156,260)(150,326)
Net loans$9,321,869 $9,258,457 
As of September 30, 2024 and December 31, 2023, $925,200 and $1,030,016, respectively, of qualifying residential mortgage loans (including loans held for sale) and $1,604,389 and $1,984,007, respectively, of qualifying commercial mortgage loans were pledged to the FHLB system securing advances against the Bank’s line of credit. Additionally, as of September 30, 2024 and December 31, 2023, qualifying commercial and industrial, construction and consumer loans, of $2,651,997 and $3,107,495, respectively, were pledged to the Federal Reserve under the Borrower-in-Custody program.
The amortized cost of loans HFI on the consolidated balance sheets exclude accrued interest receivable as the Company presents accrued interest receivable separately on the balance sheet. As of September 30, 2024 and December 31, 2023, accrued interest receivable on loans HFI amounted to $43,503 and $43,776, respectively.
Credit Quality - Commercial Type Loans
The Company categorizes commercial loan types 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 that share similar risk characteristics collectively. Loans that do not share similar risk characteristics may be evaluated individually.
The Company uses the following definitions for risk ratings:
Pass.
Loans rated Pass include those that are adequately collateralized performing loans which management believes do not have conditions that have occurred or may occur that would result in the loan being downgraded into an inferior category. The Pass category also includes commercial loans rated as Watch, which include those that management believes have conditions that have occurred, or may occur, which could result in the loan being downgraded to an inferior category.

Special Mention.
Loans rated Special Mention are those that have potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or in the institution’s credit position at some future date. Management does not believe there will be a loss of principal or interest. These loans require intensive servicing and may possess more than normal credit risk.
Classified.
Loans included in the Classified category include loans rated as Substandard and Doubtful. Loans rated as Substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard loans 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 have all the weaknesses inherent in those classified as Substandard, with the added characteristic that the weakness or weaknesses make collection or liquidation in full, based on currently existing facts, conditions, and values, highly questionable and improbable.
Risk ratings are updated on an ongoing basis and are subject to change by continuous loan monitoring processes.
The following tables present the credit quality of the Company's commercial type loan portfolio as of September 30, 2024 and December 31, 2023 and the gross charge-offs for the nine months ended September 30, 2024 and the year ended December 31, 2023 by year of origination. Revolving loans are presented separately. Management considers the guidance in ASC 310-20 when determining whether a modification, extension, or renewal constitutes a current period origination.

As of and for the nine months
    ended September 30, 2024
2024 2023 2022 2021 2020 PriorRevolving Loans Amortized Cost BasisTotal
Commercial and industrial
Pass$132,257 $189,261 $154,303 $61,545 $32,166 $115,917 $908,150 $1,593,599 
Special Mention2,795 2,851 2,609 73 — 195 26,260 34,783 
Classified— 59 20,468 4,593 2,900 6,256 26,157 60,433 
Total135,052 192,171 177,380 66,211 35,066 122,368 960,567 1,688,815 
            Current-period gross
               charge-offs		— 12 2 70 16 7 52 159 
Construction
Pass141,229 140,864 369,074 106,230 28,784 66,547 183,222 1,035,950 
Special Mention— 87 12,321 26 — 600 — 13,034 
Classified— — 5,228 273 8,488 — 16,753 30,742 
Total141,229 140,951 386,623 106,529 37,272 67,147 199,975 1,079,726 
            Current-period gross
               charge-offs		— — — — — — 92 92 
Residential real estate:
Multi-family mortgage
Pass29,685 5,879 241,414 224,347 52,376 70,251 19,245 643,197 
Special Mention— — — 9,980 — — — 9,980 
Classified— — — — — 1,011 — 1,011 
Total29,685 5,879 241,414 234,327 52,376 71,262 19,245 654,188 
             Current-period gross
                charge-offs		— — — — — — — — 
Commercial real estate:
Owner occupied
Pass133,073 112,041 247,259 218,567 108,938 392,401 87,183 1,299,462 
Special Mention— — 1,385 2,600 — 7,932 — 11,917 
Classified— — 6,274 15 62 5,425 1,053 12,829 
Total133,073 112,041 254,918 221,182 109,000 405,758 88,236 1,324,208 
            Current-period gross
              charge-offs		— — — — — — — — 
Non-owner occupied
Pass100,902 43,211 535,152 460,381 113,393 708,997 47,920 2,009,956 
Special Mention— — 5,324 4,536 1,092 19,406 — 30,358 
Classified— — — — — 7,722 — 7,722 
Total100,902 43,211 540,476 464,917 114,485 736,125 47,920 2,048,036 
             Current-period gross
                charge-offs		— — — — — — — — 
Total commercial loan types
Pass537,146 491,256 1,547,202 1,071,070 335,657 1,354,113 1,245,720 6,582,164 
Special Mention2,795 2,938 21,639 17,215 1,092 28,133 26,260 100,072 
Classified— 59 31,970 4,881 11,450 20,414 43,963 112,737 
Total$539,941 $494,253 $1,600,811 $1,093,166 $348,199 $1,402,660 $1,315,943 $6,794,973 
            Current-period gross
                charge-offs		$— $12 $2 $70 $16 $7 $144 $251 
As of and for the year ended
  December 31, 2023 		2023 2022 2021 2020 2019 PriorRevolving Loans Amortized Cost BasisTotal
Commercial and industrial
Pass$225,734 $255,921 $151,492 $39,897 $70,302 $73,415 $839,918 $1,656,679 
Special Mention— 17,947 3,083 — 151 108 7,549 28,838 
Classified457 4,253 3,075 3,027 254 6,129 18,021 35,216 
Total226,191 278,121 157,650 42,924 70,707 79,652 865,488 1,720,733 
              Current-period gross
                 charge-offs		14 7 201 22 — 87 131 462 
Construction
Pass179,929 677,387 148,312 46,697 39,140 49,954 208,491 1,349,910 
Special Mention1 4,659 2,943 1,202 — 690 12,000 21,495 
Classified— 2,349 1,484 6,620 — — 15,455 25,908 
Total179,930 684,395 152,739 54,519 39,140 50,644 235,946 1,397,313 
              Current-period gross
                  charge-offs		— — — — — — — — 
Residential real estate:
Multi-family mortgage
Pass29,982 151,495 223,889 92,745 29,933 43,479 31,209 602,732 
Special Mention— — — — — — — — 
Classified— — — — — 1,072 — 1,072 
Total29,982 151,495 223,889 92,745 29,933 44,551 31,209 603,804 
             Current-period gross
                 charge-offs		— — — — — — — — 
Commercial real estate:
Owner occupied
Pass118,030 261,196 231,241 115,397 151,146 281,253 53,970 1,212,233 
Special Mention— 1,297 1,827 — 154 2,617 — 5,895 
Classified— 6,305 16 — 760 5,789 1,073 13,943 
Total118,030 268,798 233,084 115,397 152,060 289,659 55,043 1,232,071 
              Current-period gross
                  charge-offs		— — 144 — — — — 144 
Non-owner occupied
Pass47,026 474,560 478,878 117,429 178,448 580,16843,577 1,920,086 
Special Mention— — 3,975 — — 10,435— 14,410 
Classified— — 1,001 — 381 7,647— 9,029 
Total47,026 474,560 483,854 117,429 178,829 598,250 43,577 1,943,525 
               Current-period gross
                   charge-offs		— — — — — — — — 
Total commercial loan types
Pass600,701 1,820,559 1,233,812 412,165 468,969 1,028,269 1,177,165 6,741,640 
Special Mention1 23,903 11,828 1,202 305 13,850 19,549 70,638 
Classified457 12,907 5,576 9,647 1,395 20,637 34,549 85,168 
Total$601,159 $1,857,369 $1,251,216 $423,014 $470,669 $1,062,756 $1,231,263 $6,897,446 
              Current-period gross
                  charge-offs		14 7 345 22 — 87 131 606 
Credit Quality - Consumer Type Loans
For consumer and residential loan classes, the Company primarily evaluates credit quality based on delinquency and accrual status of the loan, credit documentation and by payment activity. The performing or nonperforming status is updated on an on-going basis dependent upon improvement and deterioration in credit quality. Nonperforming loans include loans that are no longer accruing interest (nonaccrual loans) and loans past due ninety or more days and still accruing interest.
The following tables present the credit quality by classification (performing or nonperforming) of the Company’s consumer type loan portfolio as of September 30, 2024 and December 31, 2023 and the gross charge-offs for the nine months ended September 30, 2024 and the year ended December 31, 2023 by year of origination. Revolving loans are presented separately. Management considers the guidance in ASC 310-20 when determining whether a modification, extension, or renewal constitutes a current period origination.
As of and for the nine months
     ended September 30, 2024
2024 2023 2022 2021 2020 PriorRevolving Loans Amortized Cost BasisTotal
Residential real estate:
1-to-4 family mortgage
Performing$171,947 $171,313 $465,317 $371,494 $136,834 $271,278 $— $1,588,183 
Nonperforming80 564 6,365 6,571 3,126 7,142 — 23,848 
Total172,027 171,877 471,682 378,065 139,960 278,420 — 1,612,031 
          Current-period gross
             charge-offs		— — 150 130 — 15 — 295 
Residential line of credit
Performing— — — — — — 589,491 589,491 
Nonperforming— — — — — — 1,558 1,558 
Total— — — — — — 591,049 591,049 
          Current-period gross
             charge-offs		— — — — — 73 — 73 
Consumer and other
Performing112,563 97,908 79,587 38,215 30,704 105,231 634 464,842 
Nonperforming731 1,720 1,759 2,925 2,338 5,760 1 15,234 
       Total113,294 99,628 81,346 41,140 33,042 110,991 635 480,076 
           Current-period gross
              charge-offs		956 446 201 233 56 244 — 2,136 
Total consumer type loans
Performing284,510 269,221 544,904 409,709 167,538 376,509 590,125 2,642,516 
Nonperforming811 2,284 8,124 9,496 5,464 12,902 1,559 40,640 
        Total$285,321 $271,505 $553,028 $419,205 $173,002 $389,411 $591,684 $2,683,156 
            Current-period gross
             charge-offs		$956 $446 $351 $363 $56 $332 $— $2,504 
As of and for the year ended
  December 31, 2023 		2023 2022 2021 2020 2019 PriorRevolving Loans Amortized Cost BasisTotal
Residential real estate:
1-to-4 family mortgage
Performing$198,537 $500,628 $399,338 $145,484 $81,905 $226,587 $— $1,552,479 
Nonperforming76 2,565 4,026 3,846 690 4,870 — 16,073 
Total198,613 503,193 403,364 149,330 82,595 231,457 — 1,568,552 
           Prior-period gross
               charge-offs		— 18 — 4 — 24 — 46 
Residential line of credit
Performing— — — — — — 528,439 528,439 
Nonperforming— — — — — — 2,473 2,473 
Total— — — — — — 530,912 530,912 
           Prior-period gross
               charge-offs		— — — — — — — — 
Consumer and other
Performing104,399 91,557 45,187 34,928 24,040 93,833 6,890 400,834 
Nonperforming528 1,025 2,562 1,819 1,264 3,841 — 11,039 
       Total104,927 92,582 47,749 36,747 25,304 97,674 6,890 411,873 
            Prior-period gross
               charge-offs		1,463 564 139 201 110 372 2 2,851 
Total consumer type loans
Performing302,936 592,185 444,525 180,412 105,945 320,420 535,329 2,481,752 
Nonperforming604 3,590 6,588 5,665 1,954 8,711 2,473 29,585 
       Total$303,540 $595,775 $451,113 $186,077 $107,899 $329,131 $537,802 $2,511,337 
             Prior-period gross
                 charge-offs		1,463 582 139 205 110 396 2 2,897 
Nonaccrual and Past Due Loans
The following tables represent an analysis of the aging by class of financing receivable as of September 30, 2024 and December 31, 2023:
September 30, 202430-89 days
past due and accruing
interest		90 days or 
more and accruing
interest 		Nonaccrual
loans		Loans current
on payments
and accruing
interest 		Total
Commercial and industrial$760 $600 $22,458 $1,664,997 $1,688,815 
Construction2,734 365 11,181 1,065,446 1,079,726 
Residential real estate:
1-to-4 family mortgage21,644 15,249 8,599 1,566,539 1,612,031 
Residential line of credit2,061 1,331 227 587,430 591,049 
Multi-family mortgage— — 25 654,163 654,188 
Commercial real estate:
Owner occupied236 95 8,904 1,314,973 1,324,208 
Non-owner occupied65 3,512 3,055 2,041,404 2,048,036 
Consumer and other12,961 5,098 10,136 451,881 480,076 
Total$40,461 $26,250 $64,585 $9,346,833 $9,478,129 
 
December 31, 202330-89 days
past due and accruing
interest		90 days or 
more and accruing
interest 		Nonaccrual
loans		Loans current on payments and accruing interest Total
Commercial and industrial$732 $— $21,730 $1,698,271 $1,720,733 
Construction6,579 165 2,872 1,387,697 1,397,313 
Residential real estate:
1-to-4 family mortgage21,768 9,355 6,718 1,530,711 1,568,552 
Residential line of credit2,464 1,337 1,136 525,975 530,912 
Multi-family mortgage— — 32 603,772 603,804 
Commercial real estate:
Owner occupied480 — 3,188 1,228,403 1,232,071 
Non-owner occupied4,059 — 3,351 1,936,115 1,943,525 
Consumer and other10,961 1,836 9,203 389,873 411,873 
Total$47,043 $12,693 $48,230 $9,300,817 $9,408,783 
The following tables provide the amortized cost basis of loans on non-accrual status, as well as any related allowance as of September 30, 2024 and December 31, 2023 by class of financing receivable.
September 30, 2024Nonaccrual
with no
related
allowance		Nonaccrual
with
related
allowance		Related
allowance
Commercial and industrial$8,535 $13,923 $9,906 
Construction— 11,181 1,284 
Residential real estate:
1-to-4 family mortgage1,561 7,038 140 
Residential line of credit147 80 1 
Multi-family mortgage— 25 1 
Commercial real estate:
Owner occupied6,415 2,489 109 
Non-owner occupied2,598 457 6 
Consumer and other— 10,136 526 
Total$19,256 $45,329 $11,973 
December 31, 2023
Nonaccrual
with no
related
allowance		Nonaccrual
with
related
allowance		Related
allowance
Commercial and industrial$3,678 $18,052 $5,011 
Construction2,267 605 59 
Residential real estate:
1-to-4 family mortgage1,444 5,274 103 
Residential line of credit685 451 8 
Multi-family mortgage— 32 1 
Commercial real estate:
Owner occupied2,920 268 15 
Non-owner occupied3,316 35 1 
Consumer and other— 9,203 498 
Total$14,310 $33,920 $5,696 
The following presents interest income recognized on nonaccrual loans for the three and nine months ended September 30, 2024:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Commercial and industrial$46 $302 $615 $350 
Construction308 — 448 52 
Residential real estate:
1-to-4 family mortgage6 83 40 232 
Residential line of credit1 34 40 85 
Multi-family mortgage— 1 1 2 
Commercial real estate:
Owner occupied— — 124 97 
Non-owner occupied— 58 89 195 
Consumer and other— 100 — 416 
Total$361 $578 $1,357 $1,429 
Accrued interest receivable written off as an adjustment to interest income amounted to $128 and $536 for the three and nine months ended September 30, 2024, respectively, and $322 and $666 for the three and nine months ended September 30, 2023, respectively.
Loan Modifications to Borrowers Experiencing Financial Difficulty
Occasionally, the Company may make certain modifications of loans to borrowers experiencing financial difficulty. These modifications may be in the form of an interest rate reduction, a term extension, principal forgiveness, payment deferral or a combination thereof. Upon the Company's determination that a modified loan has subsequently been deemed uncollectible, the portion of the loan deemed uncollectible is charged off against the allowance for credit losses on loans HFI. The Company closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. Tables within this section exclude loans that were paid off or are otherwise no longer in the loan portfolio as of period end.
The following tables present the amortized cost of FDM loans as of September 30, 2024 by class of financing receivable and type of concession granted that were modified during the three and nine months ended September 30, 2024.

Three Months Ended
September 30, 2024		Term extensionPayment deferral and term extensionInterest rate reduction and term extensionPayment deferral, interest rate reduction, and term extensionTotal% of total class of financing receivables
Commercial and
    industrial		$— $7,038 $— $— $7,038 0.4 %
Construction$— — — 1,713 1,713 0.2 %
     Total$— $7,038 $— $1,713 $8,751 0.1 %
Nine Months Ended
September 30, 2024		Term extensionPayment deferral and term extensionInterest rate reduction and term extensionPayment deferral, interest rate reduction, and term extensionTotal% of total class of financing receivables
Commercial and
    industrial		$— $7,038 $— $— $7,038 0.4 %
Construction— 14,195 — 1,713 15,908 1.5 %
Consumer and other38 — 97 — 135 — %
     Total$38 $21,233 $97 $1,713 $23,081 0.2 %
During the three months ended September 30, 2023, the Company modified one residential mortgage loan with a balance of $31 and one commercial and industrial loan with a balance of $187 in the form of term extensions for borrowers experiencing financial difficulties. During the nine months ended September 30, 2023, the Company modified three residential mortgage loans with balances totaling $165 and one commercial and industrial loan with a balance of $187 in the form of term extensions for borrowers experiencing financial difficulties.
The following tables describe the financial effect of the modifications made to borrowers experiencing financial difficultly:
Three Months Ended September 30, 2024Weighted average term extension
(in months)		Weighted average payment deferral
(in months)		Weighted average interest rate reduction
Commercial and industrial1212—%
Construction36050.10%
Nine Months Ended September 30, 2024
Weighted average term extension
(in months)		Weighted average payment deferral
(in months)		Weighted average interest rate reduction
Commercial and industrial1212—
Construction4430.10%
Consumer and other25—1.49%
During the three and nine months ended September 30, 2024, consumer and other loans of $32 defaulted that were previously modified in the prior 12 months by receiving a term extension. No financing receivables modified in the preceding twelve months had a payment default during the three and nine months ended September 30, 2023. For FDMs, a subsequent payment default is defined as the earlier of the FDM being placed on non-accrual status or reaching 30 days past due with respect to principal and/or interest payments. At September 30, 2024, the Company had commitments to lend additional funds to borrowers whose loans were classified as an FDM of $300. There were no such commitments as of December 31, 2023.
The Company closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The table below depicts the performance of loans HFI as of September 30, 2024 made to borrowers experiencing financial difficulty that were modified in the prior twelve months.
September 30, 202430-89 days
past due and accruing
interest		90 days or 
more and accruing
interest
Nonaccrual
loans(1)
Loans current
on payments
and accruing
interest 		Total
Commercial and industrial$— $— $7,038 $— $7,038 
Construction— — 1,713 14,195 15,908 
Residential real estate:
1-to-4 family mortgage— — 22 — 22 
Consumer and other32 — — 104 136 
Total$32 $— $8,773 $14,299 $23,104 
(1) Loans were on non-accrual when modified and subsequently classified as FDM.
Collateral-Dependent Loans
For collateral-dependent loans, or those loans for which repayment is expected to be provided substantially through the operation or sale of collateral, where the borrower is also experiencing financial difficulty, the following tables present the loans and the corresponding individually assessed allowance for credit losses by class of financing receivable. Significant changes in individually assessed reserves are due to changes in the valuation of the underlying collateral in addition to changes in accrual and past due status.
September 30, 2024
Type of Collateral
Real EstateFarmlandBusiness AssetsTotalIndividually assessed allowance for credit loss
Commercial and industrial$— $— $21,061 $21,061 $9,722 
Construction22,060 1,653 — 23,713 907 
Residential real estate:
1-to-4 family mortgage1,562 — — 1,562 — 
Residential line of credit148 — — 148 — 
Commercial real estate:
Owner occupied— 6,415 — 6,415 — 
Non-owner occupied7,264 — — 7,264 — 
Total$31,034 $8,068 $21,061 $60,163 $10,629 
December 31, 2023
Type of Collateral
Real EstateFarmlandBusiness AssetsTotalIndividually assessed allowance for credit loss
Commercial and industrial$— $363 $20,599 $20,962 $4,946 
Construction8,224 — — 8,224 30 
Residential real estate:
1-to-4 family mortgage5,317 — — 5,317 129 
Residential line of credit1,245 — — 1,245 10 
Commercial real estate:
Owner occupied1,975 1,160 — 3,135 — 
Non-owner occupied3,316 — — 3,316 — 
Consumer and other112 — — 112 21 
Total$20,189 $1,523 $20,599 $42,311 $5,136 
Allowance for Credit Losses on Loans HFI
The Company performed evaluations within its established qualitative framework, assessing the impact of the current economic outlook, including: continued actions taken by the Federal Reserve with regard to monetary policy, interest rates and the potential impact of those actions, potential impact of inflation on economic growth, potential negative economic forecasts, and other considerations. The increase in the allowance for credit losses on loans HFI as of September 30, 2024 compared with December 31, 2023 is primarily the result of overall loan growth combined with an increased risk of potential deterioration in the CRE portfolio which was qualitatively adjusted to address risks not otherwise captured by the credit loss model. These adjustments factor in the possibility that the economy may be nearing a recession, reflected through deterioration in asset quality projected over life of the loan portfolio. As of September 30, 2024, all CRE asset classes are expected to be negatively impacted by slowing demand coupled with refinancing risk in the current rate environment.
The following tables provide the changes in the allowance for credit losses on loans HFI by class of financing receivable for the three and nine months ended September 30, 2024 and 2023:
 Commercial
and industrial 		Construction1-to-4
family
residential
mortgage 		Residential
line of credit 		Multi-family
residential
mortgage 		Commercial
real estate
owner
occupied 		Commercial
real estate
non-owner
occupied 		Consumer
and other 		Total
Three Months Ended September 30, 2024
Beginning balance -
June 30, 2024
$22,530 $34,170 $25,631 $10,097 $8,810 $11,312 $24,543 $17,962 $155,055 
Provision for (reversal of)
    credit losses on loans
    HFI		1,670 (3,612)341 662 834 243 98 1,620 1,856 
Recoveries of loans
previously charged-off
23 — 9 18 — 12 — 202 264 
Loans charged off(90)— (2)(53)— — — (770)(915)
Ending balance -
September 30, 2024
$24,133 $30,558 $25,979 $10,724 $9,644 $11,567 $24,641 $19,014 $156,260 
Nine Months Ended September 30, 2024
Beginning balance -
December 31, 2023
$19,599 $35,372 $26,505 $9,468 $8,842 $10,653 $22,965 $16,922 $150,326 
Provision for (reversal of)
    credit losses on loans
    HFI		4,636 (4,722)(306)1,311 802 674 1,676 3,577 7,648 
Recoveries of loans
previously charged-off
57 — 75 18 — 240 — 651 1,041 
Loans charged off(159)(92)(295)(73)— — — (2,136)(2,755)
Ending balance -
September 30, 2024
$24,133 $30,558 $25,979 $10,724 $9,644 $11,567 $24,641 $19,014 $156,260 
 Commercial
and industrial 		Construction1-to-4
family
residential
mortgage 		Residential
line of credit 		Multi-family
residential
mortgage 		Commercial
real estate
owner
occupied 		Commercial
real estate
non-owner
occupied 		Consumer
and other 		Total
Three Months Ended September 30, 2023
Beginning balance -
June 30, 2023
$11,311 $39,920 $27,407 $9,185 $6,828 $8,467 $22,877 $14,669 $140,664 
Provision for (reversal of)
    credit losses on loans
    HFI		6,293 (2,025)(1,724)(23)20 2,046 (130)1,574 6,031 
Recoveries of loans
previously charged-off
112 — 16 1 — 13 — 93 235 
Loans charged off(154)— (4)— — — — (638)(796)
Ending balance -
September 30, 2023
$17,562 $37,895 $25,695 $9,163 $6,848 $10,526 $22,747 $15,698 $146,134 
Nine Months Ended September 30, 2023 
Beginning balance -
December 31, 2022
$11,106 $39,808 $26,141 $7,494 $6,490 $7,783 $21,916 $13,454 $134,192 
Provision for (reversal of)
    credit losses on loans
    HFI		6,475 (1,923)(466)1,668 358 2,792 831 3,868 13,603 
Recoveries of loans
previously charged-off
192 10 56 1 — 95 — 440 794 
Loans charged off(211)— (36)— — (144)— (2,064)(2,455)
Ending balance -
   September 30, 2023		$17,562 $37,895 $25,695 $9,163 $6,848 $10,526 $22,747 $15,698 $146,134 
v3.24.3
Other Real Estate Owned
 9 Months Ended
Sep. 30, 2024
Real Estate [Abstract]  
Other Real Estate Owned Other real estate owned
The amount reported as other real estate owned includes property acquired through foreclosure in addition to excess facilities held for sale and is carried at the lower of the carrying amount of the underlying loan or the fair value of the real estate less costs to sell. The following table summarizes the other real estate owned for the three and nine months ended September 30, 2024 and 2023: 
Three Months Ended September 30,Nine Months Ended September 30,
 2024202320242023
Balance at beginning of period$4,173 $1,974 $3,192 $5,794 
Transfers from loans— 64 2,400 657 
Transfers to other assets— (75)— (75)
Proceeds from sale of other real estate owned(412)(537)(1,846)(5,692)
Gain on sale of other real estate owned18 93 33 835 
Write-downs and partial liquidations— (15)— (15)
Balance at end of period$3,779 $1,504 $3,779 $1,504 
Included within the other real estate owned balance above, foreclosed residential real estate properties totaled $2,651 and $2,414 as of September 30, 2024 and December 31, 2023, respectively.
The recorded investment in residential mortgage loans secured by residential real estate properties for which foreclosure proceedings are in process totaled $6,203 and $3,377 as of September 30, 2024 and December 31, 2023, respectively.
v3.24.3
Leases
 9 Months Ended
Sep. 30, 2024
Leases [Abstract]  
Leases Leases
As of September 30, 2024, the Company was the lessee in 46 operating leases and 1 finance lease of certain branch, mortgage and operations locations with original terms greater than one year.
Many leases include options to renew, with terms that can extend the lease up to an additional 20 years or more. Certain lease agreements contain provisions to periodically adjust rental payments for inflation. Renewal options that management is reasonably certain to renew and fixed rent escalations are included in the right-of-use asset and lease liability.
Information related to the Company’s leases is presented below as of September 30, 2024 and December 31, 2023:
September 30,December 31,
Classification20242023
Right-of-use assets:
Operating leasesOperating lease right-of-use assets$47,346$54,295
Finance leasesPremises and equipment, net1,1731,256
Total right-of-use assets$48,519$55,551
Lease liabilities:
Operating leasesOperating lease liabilities$59,584$67,643
Finance leasesBorrowings 1,2541,326
Total lease liabilities $60,838$68,969
Weighted average remaining lease term (in years) -
    operating		11.111.6
Weighted average remaining lease term (in years) -
    finance		10.611.4
Weighted average discount rate - operating3.41 %3.39 %
Weighted average discount rate - finance1.76 %1.76 %
The components of total lease expense included in the consolidated statements of income were as follows:
Three Months EndedNine Months Ended
September 30,September 30,
Classification2024 2023 2024 2023 
Operating lease costs:
Amortization of right-of-use assetOccupancy and equipment$1,362 $2,104 $5,048 $6,226 
Short-term lease costOccupancy and equipment96 133 282 397 
Variable lease costOccupancy and equipment321 238 1,024 862 
Gain on lease modifications and
    terminations
Occupancy and equipment— — — (73)
Finance lease costs:
Interest on lease liabilitiesInterest expense on borrowings6 6 17 18 
Amortization of right-of-use assetOccupancy and equipment28 28 83 83 
Sublease income Occupancy and equipment(96)(254)(407)(750)
Total lease cost$1,717 $2,255 $6,047 $6,763 
The Company does not separate lease and non-lease components and instead elects to account for them as a single lease component. Variable lease cost primarily represents variable payments such as common area maintenance, utilities, and property taxes.
A maturity analysis of operating and finance lease liabilities and a reconciliation of cash flows to lease liabilities as of September 30, 2024 is as follows:
OperatingFinance
Leases Lease
Lease payments due:
September 30, 2025$2,154 $30 
September 30, 20268,290 121 
September 30, 20278,016 123 
September 30, 20287,554 125 
September 30, 20296,579 127 
Thereafter40,285 850 
     Total undiscounted future minimum lease payments72,878 1,376 
Less: imputed interest(13,294)(122)
     Lease liabilities$59,584 $1,254 
Leases Leases
As of September 30, 2024, the Company was the lessee in 46 operating leases and 1 finance lease of certain branch, mortgage and operations locations with original terms greater than one year.
Many leases include options to renew, with terms that can extend the lease up to an additional 20 years or more. Certain lease agreements contain provisions to periodically adjust rental payments for inflation. Renewal options that management is reasonably certain to renew and fixed rent escalations are included in the right-of-use asset and lease liability.
Information related to the Company’s leases is presented below as of September 30, 2024 and December 31, 2023:
September 30,December 31,
Classification20242023
Right-of-use assets:
Operating leasesOperating lease right-of-use assets$47,346$54,295
Finance leasesPremises and equipment, net1,1731,256
Total right-of-use assets$48,519$55,551
Lease liabilities:
Operating leasesOperating lease liabilities$59,584$67,643
Finance leasesBorrowings 1,2541,326
Total lease liabilities $60,838$68,969
Weighted average remaining lease term (in years) -
    operating		11.111.6
Weighted average remaining lease term (in years) -
    finance		10.611.4
Weighted average discount rate - operating3.41 %3.39 %
Weighted average discount rate - finance1.76 %1.76 %
The components of total lease expense included in the consolidated statements of income were as follows:
Three Months EndedNine Months Ended
September 30,September 30,
Classification2024 2023 2024 2023 
Operating lease costs:
Amortization of right-of-use assetOccupancy and equipment$1,362 $2,104 $5,048 $6,226 
Short-term lease costOccupancy and equipment96 133 282 397 
Variable lease costOccupancy and equipment321 238 1,024 862 
Gain on lease modifications and
    terminations
Occupancy and equipment— — — (73)
Finance lease costs:
Interest on lease liabilitiesInterest expense on borrowings6 6 17 18 
Amortization of right-of-use assetOccupancy and equipment28 28 83 83 
Sublease income Occupancy and equipment(96)(254)(407)(750)
Total lease cost$1,717 $2,255 $6,047 $6,763 
The Company does not separate lease and non-lease components and instead elects to account for them as a single lease component. Variable lease cost primarily represents variable payments such as common area maintenance, utilities, and property taxes.
A maturity analysis of operating and finance lease liabilities and a reconciliation of cash flows to lease liabilities as of September 30, 2024 is as follows:
OperatingFinance
Leases Lease
Lease payments due:
September 30, 2025$2,154 $30 
September 30, 20268,290 121 
September 30, 20278,016 123 
September 30, 20287,554 125 
September 30, 20296,579 127 
Thereafter40,285 850 
     Total undiscounted future minimum lease payments72,878 1,376 
Less: imputed interest(13,294)(122)
     Lease liabilities$59,584 $1,254 
v3.24.3
Mortgage Servicing Rights
 9 Months Ended
Sep. 30, 2024
Transfers and Servicing of Financial Assets [Abstract]  
Mortgage Servicing Rights Mortgage servicing rights
Changes in the Company’s mortgage servicing rights were as follows for the three and nine months ended September 30, 2024 and 2023:
Three Months Ended September 30,Nine Months Ended September 30,
 202420232024 2023 
Carrying value at beginning of period$164,505 $166,433 $164,249 $168,365 
Capitalization1,418 2,073 4,067 6,134 
Change in fair value:
    Due to payoffs/paydowns
(3,518)(3,306)(10,067)(9,095)
    Due to change in valuation inputs or assumptions(5,308)7,510 (1,152)7,306 
        Carrying value at end of period$157,097 $172,710 $157,097 $172,710 
The following table summarizes servicing income and expense, which are included in mortgage banking income and other noninterest expense, respectively, in the consolidated statements of income for the three and nine months ended September 30, 2024 and 2023: 
 Three Months Ended September 30,Nine Months Ended September 30,
 202420232024 2023 
   Servicing income$7,244 $7,363 $21,907 $22,717 
   Change in fair value of mortgage servicing rights(8,826)4,204 (11,219)(1,789)
   Change in fair value of derivative hedging instruments4,336 (7,928)(648)(9,564)
Servicing income
2,754 3,639 10,040 11,364 
Servicing expenses1,732 1,953 5,612 6,167 
          Net servicing income
$1,022 $1,686 $4,428 $5,197 
Data and key economic assumptions related to the Company’s mortgage servicing rights as of September 30, 2024 and December 31, 2023 are as follows: 
 September 30,December 31,
 20242023
Unpaid principal balance of mortgage loans sold and serviced for others$10,402,118 $10,762,906 
Weighted-average prepayment speed (CPR)6.81 %6.19 %
Estimated impact on fair value of a 10% increase$(4,563)$(4,616)
Estimated impact on fair value of a 20% increase$(8,819)$(8,924)
Discount rate9.48 %9.62 %
Estimated impact on fair value of a 100 bp increase$(7,286)$(7,637)
Estimated impact on fair value of a 200 bp increase$(13,960)$(14,624)
Weighted-average coupon interest rate3.57 %3.47 %
Weighted-average servicing fee (basis points)2727
Weighted-average remaining maturity (in months)336334
The Company economically hedges the mortgage servicing rights portfolio with various derivative instruments to offset changes in the fair value of the related mortgage servicing rights. See Note 9, “Derivatives” for additional information on these hedging instruments.
As of September 30, 2024 and December 31, 2023, mortgage escrow deposits totaled $126,854 and $63,591, respectively.
v3.24.3
Income Taxes
 9 Months Ended
Sep. 30, 2024
Income Tax Disclosure [Abstract]  
Income Taxes Income taxes
The following table presents a reconciliation of income taxes for the three and nine months ended September 30, 2024 and 2023:
 Three Months Ended September 30,Nine Months Ended September 30,
 2024 2023 2024 2023 
Federal taxes calculated at
    statutory rate		$2,392 21.0 %$4,862 21.0 %$20,275 21.0 %$24,018 21.0 %
 (Decrease) increase resulting
    from:
State taxes, net of federal
   benefit		(986)(8.7)%(469)(2.0)%(776)(0.8)%429 0.4 %
(Benefit) expense from equity based compensation(1)— %(11)— %75 0.1 %173 0.2 %
Municipal interest income,
  net of interest
  disallowance		(313)(2.7)%(448)(1.9)%(1,014)(1.1)%(1,355)(1.2)%
Bank-owned life insurance(81)(0.7)%(84)(0.4)%(692)(0.7)%(290)(0.3)%
Section 162(m) limitation43 0.4 %57 0.2 %247 0.3 %287 0.3 %
Other120 1.0 %68 0.3 %278 0.3 %245 0.2 %
Income tax expense, as
   reported		$1,174 10.3 %$3,975 17.2 %$18,393 19.1 %$23,507 20.6 %
v3.24.3
Commitments and Contingencies
 9 Months Ended
Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and contingencies
Commitments to extend credit and letters of credit
The Company issues certain financial instruments to meet customer financing needs, including loan commitments, credit lines and letters of credit. The agreements associated with these type of unfunded loan commitments provide credit or support the credit of others, as long as conditions established in the contract are met, and usually have expiration dates.
The same credit and underwriting policies the Company uses to evaluate and underwrite loans are also used to originate unfunded loan commitments, including obtaining collateral at exercise of the commitment. These unfunded loan commitments are only recorded in the consolidated financial statements when drawn upon and many expire without being used. The Company’s maximum off-balance sheet exposure to credit loss from these unfunded loan commitments is represented by the contractual amount of these instruments.
September 30,December 31,
 2024 2023 
Commitments to extend credit, excluding interest rate lock commitments$2,713,360 $2,906,016 
Letters of credit82,284 77,055 
Balance at end of period$2,795,644 $2,983,071 
As of September 30, 2024 and December 31, 2023, unfunded loan commitments included above with floating interest rates totaled $2,551,217 and $2,459,669, respectively.
As part of the credit loss process, the Company estimates expected credit losses on its unfunded loan commitments under the CECL methodology. When applying this methodology, the Company considers the likelihood that funding will occur, the contractual period of exposure to credit loss, the risk of loss, historical loss experience, and current conditions along with expectations of future economic conditions.
The table below presents activity within the allowance for credit losses on unfunded loan commitments included in accrued expenses and other liabilities on the Company’s consolidated balance sheets:
Three Months Ended September 30,Nine Months Ended September 30,
2024 20232024 2023 
Balance at beginning of period$5,984 $14,810 $8,770 $22,969 
Provision for (reversal of) credit losses on unfunded
   commitments		58 (3,210)(2,728)(11,369)
Balance at end of period$6,042 $11,600 $6,042 $11,600 
Loan repurchases or indemnifications
In connection with the sale of mortgage loans to third-party private investors or government sponsored agencies, the Company makes representations and warranties as to the propriety of its origination activities, which are typical and customary to these types of transactions. Occasionally, investors require the Company to repurchase loans sold to them or otherwise indemnify the investor against certain losses under the terms of the warranties. When the Company is required to repurchase the loans, the loans are recorded at fair value in loans HFI. The total principal amount of loans repurchased (or indemnified for) was $1,382 and $4,893 for the three and nine months ended September 30, 2024, respectively and $1,631 and $6,328 for the three and nine months ended September 30, 2023, respectively.
The Company maintains a reserve associated with potential losses on loans previously sold included in accrued expenses and other liabilities on the Company's consolidated balance sheets. The following table summarizes this activity:
Three Months Ended September 30,Nine Months Ended September 30,
 2024 2023 2024 2023 
Balance at beginning of period$811 $1,129 $899 $1,621 
Provision for (reversal of) loan repurchases or
   indemnifications		75 (200)200 (650)
Losses on loans repurchased or indemnified(178)— (391)(42)
Balance at end of period$708 $929 $708 $929 
Legal Proceedings
Various legal claims arise from time to time in the normal course of business, which, in the opinion of management, will not have a material effect on the Company’s consolidated financial statements.
v3.24.3
Derivatives
 9 Months Ended
Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives Derivatives
The Company utilizes derivative financial instruments as part of its ongoing efforts to manage its interest rate risk exposure as well as interest rate exposure for its customers. Derivative financial instruments are included in the consolidated balance sheets line items other assets or other liabilities at fair value in accordance with ASC 815, “Derivatives and Hedging.” See Note 1, “Basis of presentation” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 for additional information on the Company’s accounting policies related to derivative instruments and hedging activities.
Derivatives designated as fair value hedges
The Company enters into fair value hedging relationships using interest rates swaps to mitigate the Company’s exposure to losses in market value as interest rates change. Derivative instruments that are used as part of the Company’s interest rate risk management strategy include interest rate swaps that relate to pricing of specific balance sheet assets and liabilities. Interest rate swaps generally involve the exchange of fixed and variable rate interest payments between two parties, based on a common notional principal amount and maturity date. The critical terms of the interest rate swaps match the terms of the corresponding hedged items. All components of each derivative instrument’s gain or loss are included in the assessment of hedge effectiveness. Any initial and ongoing assessment of expected hedge effectiveness is based on regression analysis.
At December 31, 2023, the Company had interest rate swaps designated as fair value hedges to convert fixed rate money market deposits to variable with notional values totaling $200,000 and market values totaling $(4,497) recorded in other liabilities on the consolidated balance sheets. Additionally at December 31, 2023, the Company had an interest rate swap
designated as a fair value hedge on subordinated debt with a notional value of $100,000 and market value of $(673) recorded in other liabilities on the consolidated balance sheets. At September 30, 2024, the Company did not have any interest rate swaps that were designated as fair value hedges.
During the nine months ended September 30, 2024, the Company terminated interest rate swaps that were designated as fair value hedges on fixed rate money market deposits as well as a swap agreement designated as a fair value hedge covering subordinated debt that matured. For the terminated swaps, notional values totaled $200,000 and market values totaled $(4,588) at termination. The remaining fair value adjustment on the terminated hedging relationships was amortized into interest expense over the respective contract terms of the original hedges. At September 30, 2024, there was no remaining fair value adjustment on the terminated swaps. For the matured swap, the notional value totaled $100,000 prior to maturity. The swap involved the receipt of fixed rate amounts from a counterparty in exchange for the Company making variable rate payments over the life of the agreement.
The following discloses the amount of expense included in interest expense on deposits and borrowings, related to the Company's fair value hedging instruments:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Designated fair value hedge:
     Interest expense on deposits$— $(1,927)$— $(5,204)
     Interest expense on borrowings— (977)(645)(2,631)
       Total$— $(2,904)$(645)$(7,835)

During the three and nine months ended September 30, 2024, amortization expense totaling $993 and $4,588, respectively, related to the terminated fair value hedges was recognized as an increase to interest expense on deposits. As of September 30, 2024, there is no remaining fair value adjustment related to the terminated fair value hedges included in money market and savings deposits on the consolidated balance sheets.
The following amounts were recorded on the balance sheet related to cumulative adjustments of fair value hedges as of December 31, 2023:
December 31, 2023
Line item on the balance sheetCarrying amount of the hedged itemCumulative decrease in fair value hedging adjustment included in the carrying amount of the hedged item
Money market and savings deposits$198,143 
(1)
$(4,497)
Borrowings98,715 
(2)
(673)
      Total$296,858 $(5,170)
(1) The carrying value also includes an unaccreted purchase accounting fair value premium of $2,640 as of December 31, 2023.
(2) The carrying value also includes unamortized subordinated debt issuance costs of $612 as of December 31, 2023.
Derivatives designated as cash flow hedges
The Company enters into cash flow hedging relationships using interest rate swaps to mitigate the exposure to the variability in future cash flows or other forecast transactions associated with its floating rate assets and liabilities. The Company uses interest rate swap agreements to hedge the repricing characteristics of its floating rate subordinated debt. All components of each derivative instrument’s gain or loss are included in the assessment of hedge effectiveness. Any initial and ongoing assessment of expected hedge effectiveness is based on regression analysis. The ongoing periodic measures of hedge ineffectiveness are based on the expected change in cash flows of the hedged item caused by changes in the benchmark interest rate.
At December 31, 2023, the Company had interest rate swaps designated as cash flow hedges on subordinated debt with notional values totaling $30,000 and market values totaling $579 recorded in other assets on the consolidated balance sheets. At September 30, 2024, the Company did not have any interest rate swaps that were designated as cash flow hedges.
During the nine months ended September 30, 2024, the interest rate swaps that were designated as cash flow hedges covering subordinated debt with notional amounts of $30,000 matured.
The Company’s consolidated statements of income included a loss of $5 and a gain of $517 for the three and nine months ended September 30, 2024, respectively, and gains of $267 and $696 for three and nine months ended September 30, 2023, respectively, in interest expense on borrowings related to these cash flow hedges. The cash flow hedges were highly effective during the periods presented and as a result qualified for hedge accounting treatment. As such, no amounts were reclassified from accumulated other comprehensive loss into earnings as a result of hedge ineffectiveness during any period presented.
The following discloses the amount included in other comprehensive income (loss), net of tax, for derivative instruments designated as cash flow hedges for the periods presented:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Amount of loss recognized in other comprehensive
 income (loss), net of tax benefit of $21, $35, $151 and $99
$(59)$(101)$(428)$(281)
Derivatives not designated as hedging instruments
Derivatives not designated under hedge accounting rules include those that are entered into as either economic hedges as part of the Company’s overall risk management strategy or to facilitate client needs. Economic hedges are those that are not designated as a fair value or cash flow hedge for accounting purposes but are necessary to economically manage the risk exposure associated with the assets and liabilities of the Company.
The Company enters into derivative instruments to help its commercial customers manage their exposure to interest rate fluctuations. To mitigate the interest rate risk associated with customer contracts, the Company enters into an offsetting derivative contract. The Company manages its credit risk, or potential risk of default by its commercial customers through credit limit approval and monitoring procedures.
The Company enters into interest rate-lock commitments on residential loan commitments that will be held for resale. These are considered derivative instruments with no hedge accounting designation, and the interest rate exposure on these commitments is economically hedged primarily with forward contracts. Gains and losses arising from changes in the valuation of the interest rate-lock commitments are recognized currently in earnings and are reflected under the line-item mortgage banking income in the consolidated statements of income.
The Company also enters into forwards, futures and option contracts to economically hedge the change in fair value of mortgage servicing rights. Gains and losses associated with these instruments are included in earnings and are reflected under the line-item mortgage banking income in the consolidated statements of income.
The following tables provide details on the Company’s non-designated derivative financial instruments as of the dates presented:
September 30, 2024
Notional AmountAssetLiability
  Interest rate contracts$542,155 $24,725 $24,763 
  Forward commitments240,000 — 393 
  Interest rate-lock commitments105,714 1,398 — 
  Futures contracts263,500 — 1,334 
    Total$1,151,369 $26,123 $26,490 
 December 31, 2023
 Notional AmountAssetLiability
  Interest rate contracts$569,865 $32,179 $32,184 
  Forward commitments159,000 — 861 
  Interest rate-lock commitments69,217 1,203 — 
  Futures contracts254,000 777 — 
    Total$1,052,082 $34,159 $33,045 
Gains (losses) included in the consolidated statements of income related to the Company’s non-designated derivative financial instruments were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
 2024 2023 2024 2023 
Included in mortgage banking income:
  Interest rate lock commitments$18 $(537)$194 $(358)
  Forward commitments(1,549)1,418 (1,115)2,154 
  Futures contracts3,612 (7,009)(787)(7,593)
  Option contracts— — — (1,125)
    Total$2,081 $(6,128)$(1,708)$(6,922)
Netting of Derivative Instruments
Certain financial instruments, including derivatives, may be eligible for offset on the consolidated balance sheets when the “right of offset” exists or when the instruments are subject to an enforceable master netting agreement, which includes the right of the non-defaulting party or non-affected party to offset recognized amounts, including collateral posted with the counterparty, to determine a net receivable or net payable upon early termination of the agreement. Certain of the Company’s derivative instruments are subject to master netting agreements, however the Company has not elected to offset such financial instruments on the consolidated balance sheets. The following table presents the Company’s gross derivative positions as recognized on the consolidated balance sheets as well as the net derivative positions, including collateral pledged to the extent the application of such collateral did not reduce the net derivative liability position below zero, had the Company elected to offset those instruments subject to an enforceable master netting agreement:
Gross amounts not offset on the consolidated balance sheets
Gross amounts recognizedGross amounts offset on the consolidated balance sheetsNet amounts presented on the consolidated balance sheetsFinancial instrumentsFinancial collateral pledgedNet Amount
September 30, 2024
Derivative financial assets$21,372 $— $21,372 $3,452 $— $17,920 
Derivative financial liabilities$9,721 $— $9,721 $3,452 $6,269 $— 
December 31, 2023
Derivative financial assets$31,468 $— $31,468 $6,502 $— $24,966 
Derivative financial liabilities$11,330 $— $11,330 $6,502 $4,828 $— 
Collateral Requirements
Most derivative contracts with customers are secured by collateral. Additionally, in accordance with the interest rate agreements with derivative counterparties, the Company may be required to post collateral with these derivative counterparties. As of September 30, 2024 and December 31, 2023, the Company had collateral posted of $21,791 and $14,042, respectively, against its obligations under these agreements. Cash pledged as collateral on derivative contracts is recorded in other assets on the consolidated balance sheets.
v3.24.3
Fair Value of Financial Instruments
 9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
Fair Value of Financial Instruments Fair value of financial instruments
FASB ASC 820-10 defines fair value as 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 asset or liability in an orderly transaction between market participants on the measurement date. ASC 820-10 also establishes a framework for measuring the fair value of assets and liabilities according to a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets and liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The hierarchy maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that are derived from assumptions based on management’s estimate of assumptions that market participants would use in pricing the asset or liability based on the best information available under the circumstances.
The hierarchy is broken down into the following three levels, based on the reliability of inputs:
Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date.
Level 2: Significant other observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data.
Level 3: Significant unobservable inputs for assets or liabilities that are derived from assumptions based on management’s estimate of assumptions that market participants would use in pricing the assets or liabilities.
The Company records the fair values of financial assets and liabilities on a recurring and nonrecurring basis using the following methods and assumptions:
Investment securities
Investment securities are recorded at fair value on a recurring basis. Fair values for securities are based on quoted market prices, where available. If quoted prices are not available, fair values are based on quoted market prices of similar instruments or are determined by matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the pricing relationship or correlation among other benchmark quoted securities. Investment securities valued using quoted market prices of similar instruments or that are valued using matrix pricing are classified as Level 2.
Loans held for sale
Mortgage loans held for sale are carried at fair value determined using current secondary market prices for loans with similar characteristics, that is, using Level 2 inputs.
Derivatives
The fair value of the Company's interest rate swap agreements to facilitate customer transactions are based upon fair values provided from entities that engage in interest rate swap activity and is based upon projected future cash flows and interest rates. The fair value of interest rate lock commitments associated with the mortgage pipeline is based on fees currently charged to enter into similar agreements, and for fixed-rate commitments, the difference between current levels of interest rates and the committed rates is also considered. The fair values of the Company's designated cash flow and fair value hedges are determined by calculating the difference between the discounted fixed rate cash flows and the discounted variable rate cash flows. The fair values of both the Company's hedges, including designated cash flow hedges and designated fair value hedges are based on pricing models that utilize observable market inputs. These financial instruments are classified as Level 2.
OREO
OREO is comprised of properties obtained in partial or total satisfaction of loan obligations and excess land and facilities held for sale. OREO acquired in settlement of indebtedness is recorded at the lower of the carrying amount of the loan or the fair value of the real estate less costs to sell. Fair value is determined on a nonrecurring basis based on appraisals by qualified licensed appraisers and is adjusted for management’s estimates of costs to sell and holding period discounts. OREO valuations are classified as Level 3.
Mortgage servicing rights
MSRs are carried at fair value. Fair value is determined using an income approach with various assumptions including expected cash flows, market discount rates, prepayment speeds, servicing costs, and other factors. As such, MSRs are considered Level 3.
Collateral- dependent loans
Collateral-dependent loans are loans for which, based on current information and events, the Company has determined foreclosure of the collateral is probable, or where the borrower is experiencing financial difficulty and the Company expects repayment of the loan to be provided substantially through the operation or sale of the collateral and it is probable that the creditor will be unable to collect all amounts due according to the contractual terms of the loan agreement. Collateral-dependent loans are classified as Level 3.
The balances and levels of the assets and liabilities measured at fair value on a recurring basis as of September 30, 2024 and December 31, 2023 are presented in the following tables:
At September 30, 2024Quoted prices
in active
markets for
identical assets
(liabilities)
(level 1)		Significant
other
observable
inputs
(level 2) 		Significant unobservable
inputs
(level 3) 		Total
Recurring valuations:    
Financial assets:     
AFS debt securities:    
U.S. government agency securities$— $516,833 $— $516,833 
Mortgage-backed securities - residential— 879,589 — 879,589 
Mortgage-backed securities - commercial— 16,289 — 16,289 
Municipal securities— 154,229 — 154,229 
Corporate securities— 982 — 982 
Total securities$— $1,567,922 $— $1,567,922 
Loans held for sale, at fair value$— $72,608 $— $72,608 
Mortgage servicing rights— — 157,097 157,097 
Derivatives— 26,123 — 26,123 
Financial Liabilities:
Derivatives— 26,490 — 26,490 
At December 31, 2023Quoted prices
in active
markets for
identical assets
(liabilities)
(level 1)		Significant
other
observable
inputs
(level 2) 		Significant unobservable
inputs
(level 3) 		Total
Recurring valuations:    
Financial assets:     
AFS debt securities:    
U.S. government agency securities$— $203,956 $— $203,956 
Mortgage-backed securities - residential— 896,971 — 896,971 
Mortgage-backed securities - commercial— 16,961 — 16,961 
Municipal securities — 242,263 — 242,263 
U.S. Treasury securities— 108,496 — 108,496 
Corporate securities— 3,326 — 3,326 
Total securities$— $1,471,973 $— $1,471,973 
Loans held for sale, at fair value$— $46,618 $— $46,618 
Mortgage servicing rights— — 164,249 164,249 
Derivatives— 34,738 — 34,738 
Financial Liabilities:
Derivatives— 38,215 — 38,215 
The balances and levels of the assets measured at fair value on a nonrecurring basis as of September 30, 2024 and December 31, 2023 are presented in the following tables: 
At September 30, 2024Quoted prices
in active
markets for
identical assets
(liabilities
(level 1)		Significant
other
observable
inputs
(level 2) 		Significant unobservable
inputs
(level 3) 		Total
Nonrecurring valuations:    
Financial assets:    
Other real estate owned$— $— $2,243 $2,243 
Collateral-dependent net loans held for
   investment:
Commercial and industrial— — 2,350 2,350 
Construction— — 6,958 6,958 
Total collateral-dependent loans$— $— $9,308 $9,308 
 
At December 31, 2023Quoted prices
in active
markets for
identical assets
(liabilities)
(level 1)		Significant
other
observable
inputs
(level 2)		Significant unobservable
inputs
(level 3)		Total
Nonrecurring valuations:    
Financial assets:    
Other real estate owned$— $— $2,400 $2,400 
Collateral-dependent net loans held for
    investment:
Commercial and industrial$— $— $12,338 $12,338 
Construction— — 203 203 
Residential real estate:
1-4 family mortgage— — 429 429 
Consumer and other— — 71 71 
Total collateral-dependent loans$— $— $13,041 $13,041 
Historically, the Company had a portfolio of acquired commercial loans. There were no such loans outstanding as of September 30, 2024 as the last relationship was exited during the year ended December 31, 2023. These commercial loans were measured at fair value. As such, these loans were excluded from the ACL.
The following table sets forth the changes in fair value associated with this portfolio for the three and nine months ended September 30, 2023:
Three Months Ended September 30, 2023
Principal balanceFair Value discountFair Value
Carrying value at beginning of period$12,232 $(2,965)$9,267 
Change in fair value:
  Changes in valuation included in other noninterest income— (7)(7)
    Carrying value at end of period$12,232 $(2,972)$9,260 
Nine Months Ended September 30, 2023
Principal balanceFair Value discountFair Value
Carrying value at beginning of period$34,357 $(3,867)$30,490 
Change in fair value:
   Paydowns and payoffs(22,125)— (22,125)
   Changes in valuation included in other noninterest income— 895 895 
      Carrying value at end of period$12,232 $(2,972)$9,260 
The significant unobservable inputs (Level 3) used in the valuation and changes in fair value associated with the Company’s mortgage servicing rights for the three and nine months ended September 30, 2024 and 2023 are detailed at Note 6, “Mortgage servicing rights.”
The following tables present information as of September 30, 2024 and December 31, 2023 about significant unobservable inputs (Level 3) used in the valuation of assets measured at fair value on a nonrecurring basis:
September 30, 2024
Financial instrumentFair ValueValuation techniqueSignificant 
unobservable inputs		Range of
inputs
Collateral-dependent net loans
   held for investment		$9,308 Valuation of collateralDiscount for comparable sales
10%-70%
Other real estate owned$2,243 Appraised value of property less costs to sellDiscount for costs to sell
0%-15%
December 31, 2023
Financial instrumentFair ValueValuation techniqueSignificant 
unobservable inputs		Range of
inputs
Collateral-dependent net loans
    held for investment		$13,041 Valuation of collateralDiscount for comparable sales
10%-61%
Other real estate owned$2,400 Appraised value of property less costs to sellDiscount for costs to sell
0%-15%
Fair value for collateral-dependent loans is determined based on the estimated value of the collateral securing the loans, less estimated selling costs and closing costs related to liquidation of the collateral. For loans secured by real estate, the fair value is determined based on appraisals performed by qualified appraisers and reviewed by qualified personnel. For non-real estate collateral, fair value is determined based on various sources, including third party asset valuation and internally determined values based on cost adjusted or other judgmentally determined factors. Collateral-dependent loans are reviewed and evaluated on at least a quarterly basis for additional impairment and adjusted accordingly, based on changes in market conditions from the time of valuation and management’s knowledge of the borrower and borrower’s business. As of September 30, 2024 and December 31, 2023, total amortized cost of collateral-dependent loans measured on a nonrecurring basis amounted to $19,938 and $18,166, respectively. The allowance for credit losses is calculated as the amount for which the loan’s amortized cost basis exceeds fair value.
Other real estate owned acquired in settlement of indebtedness is recorded at fair value of the real estate less estimated costs to sell. Subsequently, it may be necessary to record nonrecurring fair value adjustments for declines in fair value. Any write-downs based on the asset’s fair value at the date of foreclosure are charged to the allowance for credit losses.
Appraisals for both collateral-dependent loans and other real estate owned are performed by certified appraisers whose qualifications and licenses have been reviewed and verified by the Company. Once received, a member of the lending administrative department reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry wide statistics. Collateral-dependent loans that are dependent on recovery through sale of equipment, such as farm equipment, automobiles and aircrafts are generally valued based on public source pricing or subscription services while more complex assets are valued through leveraging brokers who have expertise in the collateral involved.
Fair value option
The following table summarizes the Company’s loans held for sale as of the dates presented:
September 30,December 31,
20242023
Loans held for sale under a fair value option:
  Mortgage loans held for sale72,608 46,618 
Loans held for sale not accounted for under a fair value option:
  Mortgage loans held for sale - guaranteed GNMA repurchase option30,537 21,229 
               Total loans held for sale$103,145 $67,847 
Mortgage loans held for sale
Net (losses) gains of $(241) and $315 resulting from fair value changes of mortgage loans were recorded in income during the three and nine months ended September 30, 2024, respectively, compared to net losses of $376 and $556 during the three and nine months ended September 30, 2023, respectively. The amount does not reflect changes in fair values of related derivative instruments used to hedge exposure to market-related risks associated with these mortgage loans held for sale. The net change in fair value of these loans held for sale and derivatives resulted in a net loss of $480 and a net gain of $1,337 for the three and nine months ended September 30, 2024, respectively, compared to net losses of $582 and $129 during the three and nine months ended September 30, 2023, respectively. The change in fair value of both mortgage loans held for sale and the related derivative instruments are recorded in mortgage banking income in the consolidated statements of income. Election of the fair value option allows the Company to reduce the accounting volatility that would otherwise result from the asymmetry created by accounting for the financial instruments at the lower of cost or fair value and the derivatives at fair value.
The Company’s valuation of mortgage loans held for sale incorporates an assumption for credit risk; however, given the short-term period that the Company holds these mortgage loans held for sale, valuation adjustments attributable to instrument-specific credit risk is nominal.
The following table summarizes the differences between the fair value and the principal balance for mortgage loans held for sale measured at fair value as of September 30, 2024 and December 31, 2023: 
September 30,December 31,
20242023
Aggregate fair value$72,608 $46,618 
Aggregate unpaid principal balance71,184 45,509 
     Difference$1,424 $1,109 
The following table contains the estimated fair values and the related carrying values of the Company’s financial instruments. Non-financial instruments are excluded from the table below.
 
 Fair Value
September 30, 2024Carrying amount Level 1Level 2Level 3Total
Financial assets:     
Cash and cash equivalents$951,750 $951,750 $— $— $951,750 
Investment securities1,567,922 — 1,567,922 — 1,567,922 
Net loans held for investment9,321,869 — — 9,053,392 9,053,392 
Loans held for sale, at fair value72,608 — 72,608 — 72,608 
Interest receivable52,228 1,304 7,421 43,503 52,228 
Mortgage servicing rights157,097 — — 157,097 157,097 
Derivatives26,123 — 26,123 — 26,123 
Financial liabilities: 
Deposits: 
Without stated maturities$9,078,893 $9,078,893 $— $— $9,078,893 
With stated maturities1,897,318 — 1,899,602 — 1,899,602 
Securities sold under agreements to
repurchase and federal funds purchased
19,708 19,708 — — 19,708 
Subordinated debt, net130,608 — — 125,625 125,625 
Interest payable20,581 4,052 16,154 375 20,581 
Derivatives26,490 — 26,490 — 26,490 
 
 Fair Value
December 31, 2023Carrying amount Level 1Level 2Level 3Total
Financial assets:     
Cash and cash equivalents$810,932 $810,932 $— $— $810,932 
Investment securities1,471,973 — 1,471,973 — 1,471,973 
Net loans held for investment9,258,457 — — 9,068,518 9,068,518 
Loans held for sale, at fair value46,618 — 46,618 — 46,618 
Interest receivable52,715 388 8,551 43,776 52,715 
Mortgage servicing rights164,249 — — 164,249 164,249 
Derivatives34,738 — 34,738 — 34,738 
Financial liabilities: 
Deposits: 
Without stated maturities$8,927,654 $8,927,654 $— $— $8,927,654 
With stated maturities1,620,633 — 1,614,400 — 1,614,400 
Securities sold under agreements to
repurchase and federal funds purchased
108,764 108,764 — — 108,764 
Bank Term Funding Program130,000 — 130,000 — 130,000 
Subordinated debt, net129,645 — — 122,671 122,671 
Interest payable18,809 4,104 13,205 1,500 18,809 
Derivatives38,215 — 38,215 — 38,215 
v3.24.3
Segment Reporting
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Segment Reporting Segment reporting
The Company and the Bank are engaged in the business of banking and provide a full range of financial services. The Company determines reportable segments based on the significance of the segment’s operating results to the overall Company, the products and services offered, customer characteristics, processes and service delivery of the segments and the regular financial performance review and allocation of resources by the Chief Executive Officer, the Company’s chief operating decision maker. The Company has identified two distinct reportable segments—Banking and Mortgage. The Company’s primary segment is Banking, which provides a full range of deposit and lending products and services to corporate, commercial and consumer customers. The Company also originates conforming residential mortgage loans through its Mortgage segment, whose activities also include the servicing of residential mortgage loans and securitization of loans to third party private investors or government sponsored agencies.
Beginning in 2024, the Company began assigning a transfer rate to allocate net interest income to products and business segments. The intent of the transfer rate methodology is to transfer interest rate risk among the segments and allow management to better measure the net interest margin contribution of its assets/liabilities by segment. Changes in management structure or allocation methodologies and procedures result in changes in reported segment financial data. Prior period results have been adjusted to conform to the current methodology.
The following tables present selected financial information with respect to the Company’s reportable segments for the three and nine months ended September 30, 2024 and 2023.
Three Months Ended September 30, 2024BankingMortgageConsolidated
Net interest income$104,335 $1,682 $106,017 
Provisions for credit losses 1,861 53 1,914 
Mortgage banking income— 16,043 16,043 
Change in fair value of mortgage servicing rights, net of hedging(1)
— (4,490)(4,490)
Other noninterest (loss) income(28,370)320 (28,050)
Depreciation and amortization3,141 114 3,255 
Amortization of intangibles719 — 719 
Other noninterest mortgage banking expense— — — 
Other noninterest expense59,425 12,813 72,238 
Income before income taxes$10,819 $575 $11,394 
Income tax expense1,174 
Net income applicable to FB Financial Corporation and noncontrolling
interest
10,220 
Net income applicable to noncontrolling interest— 
Net income applicable to FB Financial Corporation$10,220 
Total assets$12,337,135 $583,087 $12,920,222 
Goodwill242,561 — 242,561 
(1) Change in fair value of mortgage servicing rights, net of hedging is included in Mortgage banking income in the Company's consolidated statements of income.


Three Months Ended September 30, 2023BankingMortgageConsolidated
Net interest income$99,359 $1,567 $100,926 
Provisions for (reversals of) credit losses 3,253 (432)2,821 
Mortgage banking income— 15,722 15,722 
Change in fair value of mortgage servicing rights, net of hedging(1)
— (3,724)(3,724)
Other noninterest (loss) income(4,031)75 (3,956)
Depreciation and amortization2,514 167 2,681 
Amortization of intangibles889 — 889 
Other noninterest mortgage banking expense— — — 
Other noninterest expense65,309 14,118 79,427 
Income (loss) before income taxes$23,363 $(213)$23,150 
Income tax expense3,975 
Net income applicable to FB Financial Corporation and noncontrolling
interest
19,175 
Net income applicable to noncontrolling interest— 
Net income applicable to FB Financial Corporation$19,175 
Total assets$11,904,608 $585,023 $12,489,631 
Goodwill242,561 — 242,561 
(1) Change in fair value of mortgage servicing rights, net of hedging is included in Mortgage banking income in the Company's consolidated statements of income.
Nine Months Ended September 30, 2024
Banking(2)
MortgageConsolidated
Net interest income$303,990 $4,132 $308,122 
Provisions for (reversals of) credit losses 5,131 (211)4,920 
Mortgage banking income— 47,915 47,915 
Change in fair value of mortgage servicing rights, net of hedging(1)
— (11,867)(11,867)
Other noninterest (loss) income(19,687)712 (18,975)
Depreciation and amortization8,594 363 8,957 
Amortization of intangibles2,260 — 2,260 
Other noninterest expense175,104 37,404 212,508 
Income before income taxes$93,214 $3,336 $96,550 
Income tax expense18,393 
Net income applicable to FB Financial Corporation and noncontrolling
interest
78,157 
Net income applicable to noncontrolling interest(2)
8 
Net income applicable to FB Financial Corporation$78,149 
Total assets$12,337,135 $583,087 $12,920,222 
Goodwill242,561 — 242,561 
(1) Change in fair value of mortgage servicing rights, net of hedging is included in Mortgage banking income in the Company's consolidated statements of income.
(2) Banking segment includes noncontrolling interest.




Nine Months Ended September 30, 2023
Banking(2)
MortgageConsolidated
Net interest income$301,438 $4,691 $306,129 
Provisions for (reversals of) credit losses 2,316 (82)2,234 
Mortgage banking income— 47,669 47,669 
Change in fair value of mortgage servicing rights, net of hedging(1)
— (11,353)(11,353)
Other noninterest income (loss)18,942 (54)18,888 
Depreciation and amortization6,783 578 7,361 
Amortization of intangibles2,819 — 2,819 
Other noninterest expense192,070 42,479 234,549 
Income (loss) before income taxes$116,392 $(2,022)$114,370 
Income tax expense23,507 
Net income applicable to FB Financial Corporation and noncontrolling
interest
90,863 
Net income applicable to noncontrolling interest(2)
8 
Net income applicable to FB Financial Corporation$90,855 
Total assets$11,904,608 $585,023 $12,489,631 
Goodwill242,561 — 242,561 
(1) Change in fair value of mortgage servicing rights, net of hedging is included in Mortgage banking income in the Company's consolidated statements of income.
(2) Banking segment includes noncontrolling interest.
v3.24.3
Minimum Capital Requirements
 9 Months Ended
Sep. 30, 2024
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]  
Minimum Capital Requirements Minimum capital requirements
Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations involve quantitative measures of assets, liabilities, and certain off-balance sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action.
Under regulatory guidance for non-advanced approach institutions, the Bank and Company are required to maintain minimum capital ratios as outlined in the table below. Minimum risk-based capital adequacy ratios below include a capital conservation buffer of 2.50%. As of September 30, 2024 and December 31, 2023, the Bank and Company met all capital adequacy requirements to which they are subject. Additionally, under U.S. Basel III Capital Rules, the Bank and Company opted out of including accumulated other comprehensive income in regulatory capital.
The Company elected to phase-in the impact related to adopting ASU 2016-13 over the permissible five-year transition relief period and delayed the initial impact of CECL adoption plus 25% of the quarterly increases in ACL in the first two
years after adoption. Beginning in 2022, the cumulative amount of the transition adjustments became fixed and were phased out in annual increments over a three-year period. 2024 represents the final year of this CECL adoption phase out, with 25% of the initial impact of CECL adoption being adjusted out of regulatory capital calculations.
Actual and required capital amounts and ratios are included below as of the dates indicated.

September 30, 2024
ActualMinimum Requirement for Capital Adequacy with
Capital Buffer		To Qualify as Well-Capitalized Under Prompt Corrective Action Provisions
AmountRatioAmountRatioAmountRatio
Total Capital (to risk-weighted assets)      
FB Financial Corporation$1,686,651 15.1 %$1,170,701 10.5 %N/AN/A
FirstBank1,651,199 14.9 %1,167,269 10.5 %$1,111,684 10.0 %
Tier 1 Capital (to risk-weighted assets)
FB Financial Corporation$1,447,410 13.0 %$947,711 8.5 %N/AN/A
FirstBank1,412,362 12.7 %944,932 8.5 %$889,347 8.0 %
Common Equity Tier 1 Capital
   (to risk-weighted assets)
FB Financial Corporation$1,417,410 12.7 %$780,468 7.0 %N/AN/A
FirstBank1,412,362 12.7 %778,179 7.0 %$722,595 6.5 %
Tier 1 Capital (to average assets)
FB Financial Corporation$1,447,410 11.5 %$505,439 4.0 %N/AN/A
FirstBank1,412,362 11.2 %504,643 4.0 %$630,804 5.0 %
December 31, 2023ActualMinimum Requirement for Capital Adequacy with
Capital Buffer		To Qualify as Well-Capitalized Under Prompt Corrective Action Provisions
AmountRatioAmountRatioAmountRatio
Total Capital (to risk-weighted assets)      
FB Financial Corporation$1,635,848 14.5 %$1,182,028 10.5 %N/AN/A
FirstBank1,600,950 14.2 %1,179,886 10.5 %$1,123,701 10.0 %
Tier 1 Capital (to risk-weighted assets)
FB Financial Corporation$1,405,890 12.5 %$956,880 8.5 %N/AN/A
FirstBank1,370,991 12.2 %955,145 8.5 %$898,960 8.0 %
Common Equity Tier 1 Capital
(to risk-weighted assets)
FB Financial Corporation$1,375,890 12.2 %$788,018 7.0 %N/AN/A
FirstBank1,370,991 12.2 %786,590 7.0 %$730,405 6.5 %
Tier 1 Capital (to average assets)
FB Financial Corporation$1,405,890 11.3 %$496,485 4.0 %N/AN/A
FirstBank1,370,991 11.1 %495,761 4.0 %$619,701 5.0 %
v3.24.3
Stock-Based Compensation
 9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-based compensation
Restricted Stock Units
The Company grants RSUs under compensation arrangements for the benefit of certain employees and directors. RSU grants are subject to time-based vesting with associated compensation recognized on a straight-line basis based on the grant date fair value of the awards. The total number of RSUs granted represents the number of awards eligible to vest based upon the service conditions set forth in the grant agreements.
The following table summarizes changes in RSUs for the nine months ended September 30, 2024:
 Restricted Stock
Units
Outstanding		Weighted
Average Grant
Date
Fair Value
Balance at beginning of period (unvested)323,520 $37.52 
Granted178,570 35.87 
Vested(144,860)37.94 
Forfeited(8,279)37.55 
Balance at end of period (unvested)348,951 $36.51 
The total fair value of RSUs vested and released was $207 and $5,496 for the three and nine months ended September 30, 2024, respectively, and $1,208 and $7,601 for the three and nine months ended September 30, 2023, respectively.
The compensation cost related to these grants and vesting of RSUs was $1,744 and $5,741 for the three and nine months ended September 30, 2024, respectively, and $1,965 and $5,859 for the three and nine months ended September 30, 2023, respectively. This includes amounts paid related to director grants and compensation elected to be settled in stock amounting to $237 and $584 during the three and nine months ended September 30, 2024, respectively, and $179 and $626 for the three and nine months ended September 30, 2023, respectively.
As of September 30, 2024, there was $8,225 of total unrecognized compensation cost related to unvested RSUs which is expected to be recognized over a weighted-average period of 1.81 years. Additionally, as of September 30, 2024, there were 1,356,587 shares available for issuance under the Company’s stock compensation plans. As of September 30, 2024 and December 31, 2023, there was $291 and $268, respectively, accrued in other liabilities related to dividend equivalent units declared to be paid upon vesting and distribution of the underlying RSUs.
Performance-Based Restricted Stock Units
The Company awards PSUs to certain employees. Under the terms of the awards, the number of units that will vest and convert to shares of common stock will be based on the Company’s achievement of certain performance metrics over a fixed three-year performance period. The number of shares issued upon vesting can range from 0% to 200% of the PSUs granted.
For PSUs granted prior to December 31, 2023, performance factors will be based on the Company’s achievement of core return on average tangible common equity over the performance period relative to a predefined peer group.     
For PSUs granted after December 31, 2023, performance factors will be based on a combination of the same metric discussed above as well as the Company’s adjusted tangible book value over the performance period.
Compensation expense for PSUs is estimated each period based on the fair value of the Company’s stock at the grant date and the most probable outcome of the performance condition, adjusted for the passage of time within the performance period of the awards.
The following table summarizes information about the changes in PSUs as of and for the nine months ended September 30, 2024:
Performance Stock
Units
Outstanding(1)
Weighted
Average Grant
Date
Fair Value
Balance at beginning of period (unvested)176,163 $40.86 
Granted100,267 35.60 
Performance adjustment (2)
(9,778)42.71 
Vested(40,071)42.71 
Forfeited or expired(3,188)38.07 
Balance at end of period (unvested)223,393 $38.06 
(1) PSUs are presented as outstanding, granted and forfeited in the table above assuming targets are met and the awards pay out at 100%.
(2) The performance adjustment represents the difference in shares ultimately awarded due to performance attainment above or below target.
The following table summarizes data related to the Company’s outstanding PSUs as of September 30, 2024:
Grant YearGrant PricePerformance PeriodPSUs Outstanding
2022$44.44 2022 to 202448,710
2023$37.17 2023 to 202575,893
2024$35.60 2024 to 202698,790
The Company recorded compensation cost of $607 and $1,520 for the for the three and nine months ended September 30, 2024, respectively, and $819 and $2,458 for the three and nine months ended September 30, 2023, respectively. As of September 30, 2024, maximum unrecognized compensation cost at 200% payout related to the unvested PSUs was $13,395, and the weighted average remaining performance period over which the cost could be recognized was 1.95 years. As of September 30, 2024 and December 31, 2023, there was $179 and $85, respectively, accrued in other liabilities related to dividend equivalent units declared to be paid upon vesting and distribution of the underlying PSUs.
Employee Stock Purchase Plan
The Company maintains an employee stock purchase plan under which employees, through payroll deductions, are able to purchase shares of Company common stock. The employee purchase price is 95% of the lower of the market price on the first or last day of the offering period. The maximum number of shares issuable during any offering period is 200,000 shares, limited to 725 shares for each participating employee. There were 11,256 and 12,306 shares of common stock issued under the ESPP with proceeds from employee payroll withholdings of $473 and $381, during the three months ended September 30, 2024 and 2023, respectively. There were 21,862 and 20,520 shares of common stock issued under the ESPP with proceeds from employee payroll withholdings of $861 and $686, during the nine months ended September 30, 2024 and 2023, respectively. As of September 30, 2024, there were 2,272,364 shares available for issuance under the ESPP.
v3.24.3
Related Party Transactions
 9 Months Ended
Sep. 30, 2024
Related Party Transactions [Abstract]  
Related Party Transactions Related party transactions
Loans
The Bank has made and expects to continue to make loans to management, executive officers, the directors and significant shareholders of the Company and their related interests in the ordinary course of business, in compliance with regulatory requirements.
An analysis of loans to management, executive officers, the directors and significant shareholders of the Bank and their related interests is presented below:
Loans outstanding at January 1, 2024$49,073 
New loans and advances1,681 
Change in related party status— 
Repayments(22,002)
Loans outstanding at September 30, 2024$28,752 
Unfunded commitments to management, executive officers, the directors, and significant shareholders and their related interests totaled $30,044 and $44,206 at September 30, 2024 and December 31, 2023, respectively.
Deposits
The Bank held deposits from related parties totaling $184,108 and $316,141 as of September 30, 2024 and December 31, 2023, respectively.
Leases
The Bank leases various office spaces from entities owned by certain directors of the Company under varying terms. Lease expense for these properties totaled $100 and $311 for the three and nine months ended September 30, 2024, respectively, and $102 and $295 for the three and nine months ended September 30, 2023, respectively.
Aviation lease
Through a wholly-owned subsidiary, FBK Aviation, LLC, the Company owns and maintains an aircraft. FBK Aviation, LLC maintains non-exclusive aircraft leases with entities owned by certain directors. The Company recognized income of $3 and $46 during the three and nine months ended September 30, 2024, respectively, and $15 and $26 during the three and nine months ended September 30, 2023, respectively, under these agreements.
Equity investment in preferred stock and master loan purchase agreement
The Company holds equity securities of a privately held entity which originates manufactured housing loans through utilization of its proprietary developed technology. This investment was accounted for as an equity method investment as of September 30, 2024 and as an equity security without readily determinable market value as of December 31, 2023. In the third quarter of 2024, the Company acquired additional equity securities in the privately held entity and determined that the Company can exercise significant influence over the entity. In connection with this investment, two Company employees serve on the entity's board of directors. This investment is included in other assets on the consolidated balance sheets with a carrying amount of $20,000 and $10,000 as of September 30, 2024 and December 31, 2023, respectively. No gains or losses have been recognized to date associated with this investment.
The Company also has a master loan purchase agreement with this privately held entity to purchase up to $250,000 in manufactured loan housing production over an initial five-year term. Under this agreement, the Company purchased $16,970 and $43,776 of loans for the three and nine months ended September 30, 2024, respectively, and purchased $12,676 and $19,125 of loans for the three and nine months ended September 30, 2023, respectively. As of September 30, 2024 and December 31, 2023, the amortized cost of these loans HFI amounted to $73,808 and $32,154, respectively.
v3.24.3
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Pay vs Performance Disclosure        
Net Income (Loss) $ 10,220 $ 19,175 $ 78,149 $ 90,855
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
Basis of Presentation (Policies)
 9 Months Ended
Sep. 30, 2024
Accounting Policies [Abstract]  
Basis of presentation and use of estimates
The unaudited consolidated financial statements, including the notes thereto, have been prepared in accordance with U.S. GAAP interim reporting requirements and general banking industry guidelines, and therefore, do not include all information and notes included in the annual consolidated financial statements in conformity with GAAP. These interim consolidated financial statements and notes thereto should be read in conjunction with the Company’s audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K.
The unaudited consolidated financial statements include all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the results for the interim periods. The results for interim periods are not necessarily indicative of results for a full year.
In preparing the financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements and the reported results of operations for the reporting periods and the related disclosures. Although management’s estimates contemplate current conditions and how they are expected to change in the future, it is reasonably possible that actual conditions could vary from those anticipated, which could cause the Company’s financial condition and results of operations to vary significantly from those estimates.
Reclassifications
Certain prior period amounts have been reclassified to conform to the current period presentation without any impact on the reported amounts of net income or shareholders’ equity.
Earnings per common share
Earnings per common share
Basic earnings per common share excludes dilution and is computed by dividing earnings attributable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share includes the dilutive effect of additional potential common shares issuable under the restricted stock units granted but not yet vested and distributable. Diluted earnings per common share is computed by dividing earnings attributable to common shareholders by the weighted average number of common shares outstanding for the year, plus an incremental number of common-equivalent shares computed using the treasury stock method.
Certain restricted stock awards granted by the Company include non-forfeitable dividend equivalent rights and are considered participating securities for the purposes of computing earnings per common share. Accordingly, the Company is required to calculate basic and diluted earnings per common share using the two-class method. Calculation of earnings per common share under the two-class method (i) excludes from the numerator any dividends paid or owed on participating securities and any undistributed earnings considered to be attributable to participating securities and (ii) excludes from the denominator the dilutive impact of the participating securities.
Recently adopted accounting standards and Newly issued not yet effective accounting standards
Recently adopted accounting standards:
In June 2022, the FASB issued ASU 2022-03, “Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions.” The FASB issued this update to clarify the guidance in ASC 820, “Fair Value Measurement,” when measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of an equity security, to amend a related illustrative example, and to introduce new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value in accordance with Topic 820. The Company adopted this update effective January 1, 2024. The adoption did not have an impact on the Company’s consolidated financial statements or related disclosures.
In March 2023, the FASB issued ASU 2023-01, “Leases (Topic 842): Common Control Arrangements” as part of the Post-Implementation Review process of ASC 842, “Leases,” around related party arrangements between entities under common control. Under previous guidance, a lessee is generally required to amortize leasehold improvements that it owns over the shorter of the useful life of those improvements or the lease term. However, due to the nature of leasehold improvements made under leases between entities under common control, ASU 2023-01 requires a lessee in a common-control arrangement to amortize such leasehold improvements that it owns over the improvements’ useful life to the common control group, regardless of the lease term. The Company adopted this standard on January 1, 2024 on a prospective basis. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements or related disclosures.
Additionally, in March 2023, the FASB issued ASU 2023-02, “Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method.” The amendments in this update permit reporting entities to elect to account for tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. The Company adopted this standard effective January 1, 2024. The adoption of this accounting pronouncement did not have an impact on the Company’s historical consolidated financial statements but could influence the Company’s decisions with respect to investments in certain tax credits prospectively.
Newly issued not yet effective accounting standards:
In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” The amendments in this update are intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant expenses. The ASU requires disclosures to include significant segment expenses that are regularly provided to the chief operating decision maker, a description of other segment items by reportable segment, and any additional measures of a segment's profit or loss used by the chief operating decision maker when deciding how to allocate resources. The ASU also requires all annual disclosures currently
required by Topic 280, “Segment Reporting,” to be included in interim periods. This update is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted, and retrospective application is required for all periods presented. While the Company is continuing to evaluate the impact, ASU 2023-07 is not expected to have a material impact on the Company’s reportable segments disclosures.
In December 2023, the FASB issued ASU 2023-08, “Intangibles – Goodwill and Other-Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets.” This update requires entities to present crypto assets measured at fair value separately from other intangible assets on the balance sheet and reflect changes from remeasurement in the net income. Additionally, an entity that receives crypto assets as noncash consideration in the ordinary course of business and converts them nearly immediately into cash is required to classify those cash receipts as cash flows from operating activities. Lastly, the update requires entities to provide interim and annual disclosures about the types of crypto assets they hold and any changes in their holdings of crypto assets. While the Company does not currently hold or facilitate transactions with crypto assets, the Company is evaluating the potential future financial statement and disclosure impact from adopting this guidance when it becomes applicable based on the Company’s crypto asset activities.
In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” The amendments in this update enhance the transparency and decision usefulness of income tax disclosures. This ASU requires disclosures of specific categories and disaggregation of information in the rate reconciliation table. The ASU also requires disclosure of disaggregated information related to income taxes paid, income or loss from continuing operations before income tax expense or benefit, and income tax expense or benefit from continuing operations. The requirements of the ASU are effective for annual periods beginning after December 15, 2024. Early adoption is permitted, and the amendments should be applied on a prospective basis. Retrospective application is permitted. The Company is evaluating the impact this will have on the Company’s income tax disclosures.
Subsequent events
Subsequent events
The Company has evaluated, for consideration of recognition or disclosure, subsequent events that occurred through the date of issuance of these financial statements. The Company has determined that there were no subsequent events that occurred after September 30, 2024, but prior to the issuance of these financial statements that would have a material impact on the Company’s consolidated financial statements.
Loans held for investment (excluding purchased credit deteriorated loans)
Credit Quality - Commercial Type Loans
The Company categorizes commercial loan types 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 that share similar risk characteristics collectively. Loans that do not share similar risk characteristics may be evaluated individually.
The Company uses the following definitions for risk ratings:
Pass.
Loans rated Pass include those that are adequately collateralized performing loans which management believes do not have conditions that have occurred or may occur that would result in the loan being downgraded into an inferior category. The Pass category also includes commercial loans rated as Watch, which include those that management believes have conditions that have occurred, or may occur, which could result in the loan being downgraded to an inferior category.

Special Mention.
Loans rated Special Mention are those that have potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or in the institution’s credit position at some future date. Management does not believe there will be a loss of principal or interest. These loans require intensive servicing and may possess more than normal credit risk.
Classified.
Loans included in the Classified category include loans rated as Substandard and Doubtful. Loans rated as Substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard loans 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 have all the weaknesses inherent in those classified as Substandard, with the added characteristic that the weakness or weaknesses make collection or liquidation in full, based on currently existing facts, conditions, and values, highly questionable and improbable.
Risk ratings are updated on an ongoing basis and are subject to change by continuous loan monitoring processes.
Fair value of financial instruments Fair value of financial instruments
FASB ASC 820-10 defines fair value as 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 asset or liability in an orderly transaction between market participants on the measurement date. ASC 820-10 also establishes a framework for measuring the fair value of assets and liabilities according to a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets and liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The hierarchy maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that are derived from assumptions based on management’s estimate of assumptions that market participants would use in pricing the asset or liability based on the best information available under the circumstances.
The hierarchy is broken down into the following three levels, based on the reliability of inputs:
Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date.
Level 2: Significant other observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data.
Level 3: Significant unobservable inputs for assets or liabilities that are derived from assumptions based on management’s estimate of assumptions that market participants would use in pricing the assets or liabilities.
The Company records the fair values of financial assets and liabilities on a recurring and nonrecurring basis using the following methods and assumptions:
Investment securities
Investment securities are recorded at fair value on a recurring basis. Fair values for securities are based on quoted market prices, where available. If quoted prices are not available, fair values are based on quoted market prices of similar instruments or are determined by matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the pricing relationship or correlation among other benchmark quoted securities. Investment securities valued using quoted market prices of similar instruments or that are valued using matrix pricing are classified as Level 2.
Loans held for sale
Mortgage loans held for sale are carried at fair value determined using current secondary market prices for loans with similar characteristics, that is, using Level 2 inputs.
Derivatives
The fair value of the Company's interest rate swap agreements to facilitate customer transactions are based upon fair values provided from entities that engage in interest rate swap activity and is based upon projected future cash flows and interest rates. The fair value of interest rate lock commitments associated with the mortgage pipeline is based on fees currently charged to enter into similar agreements, and for fixed-rate commitments, the difference between current levels of interest rates and the committed rates is also considered. The fair values of the Company's designated cash flow and fair value hedges are determined by calculating the difference between the discounted fixed rate cash flows and the discounted variable rate cash flows. The fair values of both the Company's hedges, including designated cash flow hedges and designated fair value hedges are based on pricing models that utilize observable market inputs. These financial instruments are classified as Level 2.
OREO
OREO is comprised of properties obtained in partial or total satisfaction of loan obligations and excess land and facilities held for sale. OREO acquired in settlement of indebtedness is recorded at the lower of the carrying amount of the loan or the fair value of the real estate less costs to sell. Fair value is determined on a nonrecurring basis based on appraisals by qualified licensed appraisers and is adjusted for management’s estimates of costs to sell and holding period discounts. OREO valuations are classified as Level 3.
Mortgage servicing rights
MSRs are carried at fair value. Fair value is determined using an income approach with various assumptions including expected cash flows, market discount rates, prepayment speeds, servicing costs, and other factors. As such, MSRs are considered Level 3.
Collateral- dependent loans
Collateral-dependent loans are loans for which, based on current information and events, the Company has determined foreclosure of the collateral is probable, or where the borrower is experiencing financial difficulty and the Company expects repayment of the loan to be provided substantially through the operation or sale of the collateral and it is probable that the creditor will be unable to collect all amounts due according to the contractual terms of the loan agreement. Collateral-dependent loans are classified as Level 3.
Collateral-dependent loans are reviewed and evaluated on at least a quarterly basis for additional impairment and adjusted accordingly, based on changes in market conditions from the time of valuation and management’s knowledge of the borrower and borrower’s business. As of September 30, 2024 and December 31, 2023, total amortized cost of collateral-dependent loans measured on a nonrecurring basis amounted to $19,938 and $18,166, respectively. The allowance for credit losses is calculated as the amount for which the loan’s amortized cost basis exceeds fair value.
Other real estate owned acquired in settlement of indebtedness is recorded at fair value of the real estate less estimated costs to sell. Subsequently, it may be necessary to record nonrecurring fair value adjustments for declines in fair value. Any write-downs based on the asset’s fair value at the date of foreclosure are charged to the allowance for credit losses.
Appraisals for both collateral-dependent loans and other real estate owned are performed by certified appraisers whose qualifications and licenses have been reviewed and verified by the Company. Once received, a member of the lending administrative department reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry wide statistics. Collateral-dependent loans that are dependent on recovery through sale of equipment, such as farm equipment, automobiles and aircrafts are generally valued based on public source pricing or subscription services while more complex assets are valued through leveraging brokers who have expertise in the collateral involved.
v3.24.3
Basis of Presentation (Tables)
 9 Months Ended
Sep. 30, 2024
Accounting Policies [Abstract]  
Schedule of Basic and Diluted Earnings Per Common Share Calculation
The following is a summary of the basic and diluted earnings per common share calculations for each of the periods presented:
 Three Months Ended September 30,Nine Months Ended September 30,
 2024 2023 20242023
Basic earnings per common share:
Net income applicable to FB Financial Corporation$10,220 $19,175 $78,149 $90,855 
Dividends paid on and undistributed earnings allocated to participating securities— — — — 
Earnings available to common shareholders$10,220 $19,175 $78,149 $90,855 
Weighted average basic shares outstanding46,650,563 46,818,612 46,762,213 46,759,703 
Basic earnings per common share$0.22 $0.41 $1.67 $1.94 
Diluted earnings per common share:
Earnings available to common shareholders$10,220 $19,175 $78,149 $90,855 
Weighted average basic shares outstanding46,650,563 46,818,612 46,762,213 46,759,703 
Weighted average diluted shares contingently issuable(1)
152,767 37,810 111,824 42,840 
Weighted average diluted shares outstanding46,803,330 46,856,422 46,874,037 46,802,543 
Diluted earnings per common share$0.22 $0.41 $1.67 $1.94 
(1) Excludes 4 and 904 restricted stock units outstanding considered to be antidilutive for the three and nine months ended September 30, 2024 and 217,546 and 218,815 restricted stock units outstanding considered to be antidilutive for the three and nine months ended September 30, 2023.
v3.24.3
Investment Securities (Tables)
 9 Months Ended
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost of Securities and Fair Values
The following tables summarize the amortized cost, allowance for credit losses and fair value of the AFS debt securities and the corresponding amounts of unrealized gains and losses recognized in accumulated other comprehensive loss, net at September 30, 2024 and December 31, 2023:  
September 30, 2024
 Amortized cost Gross unrealized gains Gross unrealized losses Allowance for credit losses on investments Fair Value
Investment Securities    
AFS debt securities  
U.S. government agency securities$515,775 $1,401 $(343)$— $516,833 
Mortgage-backed securities - residential968,294 1,471 (90,176)— 879,589 
Mortgage-backed securities - commercial 17,147 — (858)— 16,289 
Municipal securities170,865 143 (16,779)— 154,229 
Corporate securities998 — (16)— 982 
Total$1,673,079 $3,015 $(108,172)$— $1,567,922 
December 31, 2023
 Amortized costGross unrealized gains Gross unrealized losses Allowance for credit losses on investmentsFair Value
Investment Securities    
AFS debt securities    
U.S. government agency securities$204,663 $470 $(1,177)$— $203,956 
Mortgage-backed securities - residential1,057,389 — (160,418)— 896,971 
Mortgage-backed securities - commercial18,186 — (1,225)— 16,961 
Municipal securities263,312 370 (21,419)— 242,263 
U.S. Treasury securities111,729 — (3,233)— 108,496 
Corporate securities3,500 — (174)— 3,326 
Total$1,658,779 $840 $(187,646)$— $1,471,973 
Schedule of Gross Unrealized Losses
The following tables show gross unrealized losses on AFS debt securities for which an allowance for credit losses has not been recorded at September 30, 2024 and December 31, 2023, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:
September 30, 2024
 Less than 12 months12 months or moreTotal
 Fair ValueGross Unrealized Loss Fair ValueGross Unrealized LossFair ValueGross Unrealized Loss
U.S. government agency securities$143,783 $(338)$816 $(5)$144,599 $(343)
Mortgage-backed securities - residential— — 470,625 (90,176)470,625 (90,176)
Mortgage-backed securities - commercial— — 16,289 (858)16,289 (858)
Municipal securities23,993 (1,772)115,191 (15,007)139,184 (16,779)
Corporate securities— — 982 (16)982 (16)
Total$167,776 $(2,110)$603,903 $(106,062)$771,679 $(108,172)
 December 31, 2023
 Less than 12 months12 months or moreTotal
 Fair ValueGross Unrealized LossFair ValueGross Unrealized LossFair ValueGross Unrealized Loss
U.S. government agency securities$25,923 $(21)$14,040 $(1,156)$39,963 $(1,177)
Mortgage-backed securities - residential— — 896,971 (160,418)896,971 (160,418)
Mortgage-backed securities - commercial— — 16,961 (1,225)16,961 (1,225)
Municipal securities14,480 (148)188,669 (21,271)203,149 (21,419)
U.S. Treasury securities— — 108,496 (3,233)108,496 (3,233)
Corporate securities— — 3,326 (174)3,326 (174)
Total$40,403 $(169)$1,228,463 $(187,477)$1,268,866 $(187,646)
Schedule of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity
September 30,December 31,
 2024 2023 
 Available-for-saleAvailable-for-sale
 Amortized costFair ValueAmortized costFair Value
Due in one year or less$1,895 $1,892 $64,776 $64,279 
Due in one to five years4,189 4,143 75,996 71,801 
Due in five to ten years229,469 228,476 51,162 49,630 
Due in over ten years452,085 437,533 391,270 372,331 
687,638 672,044 583,204 558,041 
Mortgage-backed securities - residential968,294 879,589 1,057,389 896,971 
Mortgage-backed securities - commercial17,147 16,289 18,186 16,961 
Total AFS debt securities$1,673,079 $1,567,922 $1,658,779 $1,471,973 
Schedule of Sales and Other Dispositions of Available-for-Sale Securities
Sales and other dispositions of AFS debt securities were as follows:
 Three Months Ended September 30,Nine Months Ended September 30,
 2024 2023 2024 2023 
Proceeds from sales$318,194 $75,857 $526,076 $75,857 
Proceeds from maturities, prepayments and calls89,834 32,946 224,070 91,361 
Gross realized gains— 19 90 19 
Gross realized losses40,165 14,119 56,468 14,119 
v3.24.3
Loans and Allowance for Credit Losses on Loans HFI (Tables)
 9 Months Ended
Sep. 30, 2024
Receivables [Abstract]  
Schedule of Loans Outstanding by Class of Financing Receivable
Loans outstanding as of September 30, 2024 and December 31, 2023, by class of financing receivable are as follows:
 September 30,December 31,
 2024 2023 
Commercial and industrial$1,688,815 $1,720,733 
Construction1,079,726 1,397,313 
Residential real estate:
1-to-4 family mortgage1,612,031 1,568,552 
Residential line of credit591,049 530,912 
Multi-family mortgage654,188 603,804 
Commercial real estate:
Owner-occupied1,324,208 1,232,071 
Non-owner occupied2,048,036 1,943,525 
Consumer and other480,076 411,873 
Gross loans9,478,129 9,408,783 
Less: Allowance for credit losses on loans HFI(156,260)(150,326)
Net loans$9,321,869 $9,258,457 
Schedule of Credit Quality of Loan Portfolio by Year of Origination
The following tables present the credit quality of the Company's commercial type loan portfolio as of September 30, 2024 and December 31, 2023 and the gross charge-offs for the nine months ended September 30, 2024 and the year ended December 31, 2023 by year of origination. Revolving loans are presented separately. Management considers the guidance in ASC 310-20 when determining whether a modification, extension, or renewal constitutes a current period origination.

As of and for the nine months
    ended September 30, 2024
2024 2023 2022 2021 2020 PriorRevolving Loans Amortized Cost BasisTotal
Commercial and industrial
Pass$132,257 $189,261 $154,303 $61,545 $32,166 $115,917 $908,150 $1,593,599 
Special Mention2,795 2,851 2,609 73 — 195 26,260 34,783 
Classified— 59 20,468 4,593 2,900 6,256 26,157 60,433 
Total135,052 192,171 177,380 66,211 35,066 122,368 960,567 1,688,815 
            Current-period gross
               charge-offs		— 12 2 70 16 7 52 159 
Construction
Pass141,229 140,864 369,074 106,230 28,784 66,547 183,222 1,035,950 
Special Mention— 87 12,321 26 — 600 — 13,034 
Classified— — 5,228 273 8,488 — 16,753 30,742 
Total141,229 140,951 386,623 106,529 37,272 67,147 199,975 1,079,726 
            Current-period gross
               charge-offs		— — — — — — 92 92 
Residential real estate:
Multi-family mortgage
Pass29,685 5,879 241,414 224,347 52,376 70,251 19,245 643,197 
Special Mention— — — 9,980 — — — 9,980 
Classified— — — — — 1,011 — 1,011 
Total29,685 5,879 241,414 234,327 52,376 71,262 19,245 654,188 
             Current-period gross
                charge-offs		— — — — — — — — 
Commercial real estate:
Owner occupied
Pass133,073 112,041 247,259 218,567 108,938 392,401 87,183 1,299,462 
Special Mention— — 1,385 2,600 — 7,932 — 11,917 
Classified— — 6,274 15 62 5,425 1,053 12,829 
Total133,073 112,041 254,918 221,182 109,000 405,758 88,236 1,324,208 
            Current-period gross
              charge-offs		— — — — — — — — 
Non-owner occupied
Pass100,902 43,211 535,152 460,381 113,393 708,997 47,920 2,009,956 
Special Mention— — 5,324 4,536 1,092 19,406 — 30,358 
Classified— — — — — 7,722 — 7,722 
Total100,902 43,211 540,476 464,917 114,485 736,125 47,920 2,048,036 
             Current-period gross
                charge-offs		— — — — — — — — 
Total commercial loan types
Pass537,146 491,256 1,547,202 1,071,070 335,657 1,354,113 1,245,720 6,582,164 
Special Mention2,795 2,938 21,639 17,215 1,092 28,133 26,260 100,072 
Classified— 59 31,970 4,881 11,450 20,414 43,963 112,737 
Total$539,941 $494,253 $1,600,811 $1,093,166 $348,199 $1,402,660 $1,315,943 $6,794,973 
            Current-period gross
                charge-offs		$— $12 $2 $70 $16 $7 $144 $251 
As of and for the year ended
  December 31, 2023 		2023 2022 2021 2020 2019 PriorRevolving Loans Amortized Cost BasisTotal
Commercial and industrial
Pass$225,734 $255,921 $151,492 $39,897 $70,302 $73,415 $839,918 $1,656,679 
Special Mention— 17,947 3,083 — 151 108 7,549 28,838 
Classified457 4,253 3,075 3,027 254 6,129 18,021 35,216 
Total226,191 278,121 157,650 42,924 70,707 79,652 865,488 1,720,733 
              Current-period gross
                 charge-offs		14 7 201 22 — 87 131 462 
Construction
Pass179,929 677,387 148,312 46,697 39,140 49,954 208,491 1,349,910 
Special Mention1 4,659 2,943 1,202 — 690 12,000 21,495 
Classified— 2,349 1,484 6,620 — — 15,455 25,908 
Total179,930 684,395 152,739 54,519 39,140 50,644 235,946 1,397,313 
              Current-period gross
                  charge-offs		— — — — — — — — 
Residential real estate:
Multi-family mortgage
Pass29,982 151,495 223,889 92,745 29,933 43,479 31,209 602,732 
Special Mention— — — — — — — — 
Classified— — — — — 1,072 — 1,072 
Total29,982 151,495 223,889 92,745 29,933 44,551 31,209 603,804 
             Current-period gross
                 charge-offs		— — — — — — — — 
Commercial real estate:
Owner occupied
Pass118,030 261,196 231,241 115,397 151,146 281,253 53,970 1,212,233 
Special Mention— 1,297 1,827 — 154 2,617 — 5,895 
Classified— 6,305 16 — 760 5,789 1,073 13,943 
Total118,030 268,798 233,084 115,397 152,060 289,659 55,043 1,232,071 
              Current-period gross
                  charge-offs		— — 144 — — — — 144 
Non-owner occupied
Pass47,026 474,560 478,878 117,429 178,448 580,16843,577 1,920,086 
Special Mention— — 3,975 — — 10,435— 14,410 
Classified— — 1,001 — 381 7,647— 9,029 
Total47,026 474,560 483,854 117,429 178,829 598,250 43,577 1,943,525 
               Current-period gross
                   charge-offs		— — — — — — — — 
Total commercial loan types
Pass600,701 1,820,559 1,233,812 412,165 468,969 1,028,269 1,177,165 6,741,640 
Special Mention1 23,903 11,828 1,202 305 13,850 19,549 70,638 
Classified457 12,907 5,576 9,647 1,395 20,637 34,549 85,168 
Total$601,159 $1,857,369 $1,251,216 $423,014 $470,669 $1,062,756 $1,231,263 $6,897,446 
              Current-period gross
                  charge-offs		14 7 345 22 — 87 131 606 
The following tables present the credit quality by classification (performing or nonperforming) of the Company’s consumer type loan portfolio as of September 30, 2024 and December 31, 2023 and the gross charge-offs for the nine months ended September 30, 2024 and the year ended December 31, 2023 by year of origination. Revolving loans are presented separately. Management considers the guidance in ASC 310-20 when determining whether a modification, extension, or renewal constitutes a current period origination.
As of and for the nine months
     ended September 30, 2024
2024 2023 2022 2021 2020 PriorRevolving Loans Amortized Cost BasisTotal
Residential real estate:
1-to-4 family mortgage
Performing$171,947 $171,313 $465,317 $371,494 $136,834 $271,278 $— $1,588,183 
Nonperforming80 564 6,365 6,571 3,126 7,142 — 23,848 
Total172,027 171,877 471,682 378,065 139,960 278,420 — 1,612,031 
          Current-period gross
             charge-offs		— — 150 130 — 15 — 295 
Residential line of credit
Performing— — — — — — 589,491 589,491 
Nonperforming— — — — — — 1,558 1,558 
Total— — — — — — 591,049 591,049 
          Current-period gross
             charge-offs		— — — — — 73 — 73 
Consumer and other
Performing112,563 97,908 79,587 38,215 30,704 105,231 634 464,842 
Nonperforming731 1,720 1,759 2,925 2,338 5,760 1 15,234 
       Total113,294 99,628 81,346 41,140 33,042 110,991 635 480,076 
           Current-period gross
              charge-offs		956 446 201 233 56 244 — 2,136 
Total consumer type loans
Performing284,510 269,221 544,904 409,709 167,538 376,509 590,125 2,642,516 
Nonperforming811 2,284 8,124 9,496 5,464 12,902 1,559 40,640 
        Total$285,321 $271,505 $553,028 $419,205 $173,002 $389,411 $591,684 $2,683,156 
            Current-period gross
             charge-offs		$956 $446 $351 $363 $56 $332 $— $2,504 
As of and for the year ended
  December 31, 2023 		2023 2022 2021 2020 2019 PriorRevolving Loans Amortized Cost BasisTotal
Residential real estate:
1-to-4 family mortgage
Performing$198,537 $500,628 $399,338 $145,484 $81,905 $226,587 $— $1,552,479 
Nonperforming76 2,565 4,026 3,846 690 4,870 — 16,073 
Total198,613 503,193 403,364 149,330 82,595 231,457 — 1,568,552 
           Prior-period gross
               charge-offs		— 18 — 4 — 24 — 46 
Residential line of credit
Performing— — — — — — 528,439 528,439 
Nonperforming— — — — — — 2,473 2,473 
Total— — — — — — 530,912 530,912 
           Prior-period gross
               charge-offs		— — — — — — — — 
Consumer and other
Performing104,399 91,557 45,187 34,928 24,040 93,833 6,890 400,834 
Nonperforming528 1,025 2,562 1,819 1,264 3,841 — 11,039 
       Total104,927 92,582 47,749 36,747 25,304 97,674 6,890 411,873 
            Prior-period gross
               charge-offs		1,463 564 139 201 110 372 2 2,851 
Total consumer type loans
Performing302,936 592,185 444,525 180,412 105,945 320,420 535,329 2,481,752 
Nonperforming604 3,590 6,588 5,665 1,954 8,711 2,473 29,585 
       Total$303,540 $595,775 $451,113 $186,077 $107,899 $329,131 $537,802 $2,511,337 
             Prior-period gross
                 charge-offs		1,463 582 139 205 110 396 2 2,897 
Schedule of Analysis of Aging by Class of Financing Receivable
The following tables represent an analysis of the aging by class of financing receivable as of September 30, 2024 and December 31, 2023:
September 30, 202430-89 days
past due and accruing
interest		90 days or 
more and accruing
interest 		Nonaccrual
loans		Loans current
on payments
and accruing
interest 		Total
Commercial and industrial$760 $600 $22,458 $1,664,997 $1,688,815 
Construction2,734 365 11,181 1,065,446 1,079,726 
Residential real estate:
1-to-4 family mortgage21,644 15,249 8,599 1,566,539 1,612,031 
Residential line of credit2,061 1,331 227 587,430 591,049 
Multi-family mortgage— — 25 654,163 654,188 
Commercial real estate:
Owner occupied236 95 8,904 1,314,973 1,324,208 
Non-owner occupied65 3,512 3,055 2,041,404 2,048,036 
Consumer and other12,961 5,098 10,136 451,881 480,076 
Total$40,461 $26,250 $64,585 $9,346,833 $9,478,129 
 
December 31, 202330-89 days
past due and accruing
interest		90 days or 
more and accruing
interest 		Nonaccrual
loans		Loans current on payments and accruing interest Total
Commercial and industrial$732 $— $21,730 $1,698,271 $1,720,733 
Construction6,579 165 2,872 1,387,697 1,397,313 
Residential real estate:
1-to-4 family mortgage21,768 9,355 6,718 1,530,711 1,568,552 
Residential line of credit2,464 1,337 1,136 525,975 530,912 
Multi-family mortgage— — 32 603,772 603,804 
Commercial real estate:
Owner occupied480 — 3,188 1,228,403 1,232,071 
Non-owner occupied4,059 — 3,351 1,936,115 1,943,525 
Consumer and other10,961 1,836 9,203 389,873 411,873 
Total$47,043 $12,693 $48,230 $9,300,817 $9,408,783 
Schedule of Amortized Cost, Related Allowance and Interest Income of Non-accrual Loans
The following tables provide the amortized cost basis of loans on non-accrual status, as well as any related allowance as of September 30, 2024 and December 31, 2023 by class of financing receivable.
September 30, 2024Nonaccrual
with no
related
allowance		Nonaccrual
with
related
allowance		Related
allowance
Commercial and industrial$8,535 $13,923 $9,906 
Construction— 11,181 1,284 
Residential real estate:
1-to-4 family mortgage1,561 7,038 140 
Residential line of credit147 80 1 
Multi-family mortgage— 25 1 
Commercial real estate:
Owner occupied6,415 2,489 109 
Non-owner occupied2,598 457 6 
Consumer and other— 10,136 526 
Total$19,256 $45,329 $11,973 
December 31, 2023
Nonaccrual
with no
related
allowance		Nonaccrual
with
related
allowance		Related
allowance
Commercial and industrial$3,678 $18,052 $5,011 
Construction2,267 605 59 
Residential real estate:
1-to-4 family mortgage1,444 5,274 103 
Residential line of credit685 451 8 
Multi-family mortgage— 32 1 
Commercial real estate:
Owner occupied2,920 268 15 
Non-owner occupied3,316 35 1 
Consumer and other— 9,203 498 
Total$14,310 $33,920 $5,696 
The following presents interest income recognized on nonaccrual loans for the three and nine months ended September 30, 2024:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Commercial and industrial$46 $302 $615 $350 
Construction308 — 448 52 
Residential real estate:
1-to-4 family mortgage6 83 40 232 
Residential line of credit1 34 40 85 
Multi-family mortgage— 1 1 2 
Commercial real estate:
Owner occupied— — 124 97 
Non-owner occupied— 58 89 195 
Consumer and other— 100 — 416 
Total$361 $578 $1,357 $1,429 
Schedule of Financial Effect of TDRs
The following tables present the amortized cost of FDM loans as of September 30, 2024 by class of financing receivable and type of concession granted that were modified during the three and nine months ended September 30, 2024.

Three Months Ended
September 30, 2024		Term extensionPayment deferral and term extensionInterest rate reduction and term extensionPayment deferral, interest rate reduction, and term extensionTotal% of total class of financing receivables
Commercial and
    industrial		$— $7,038 $— $— $7,038 0.4 %
Construction$— — — 1,713 1,713 0.2 %
     Total$— $7,038 $— $1,713 $8,751 0.1 %
Nine Months Ended
September 30, 2024		Term extensionPayment deferral and term extensionInterest rate reduction and term extensionPayment deferral, interest rate reduction, and term extensionTotal% of total class of financing receivables
Commercial and
    industrial		$— $7,038 $— $— $7,038 0.4 %
Construction— 14,195 — 1,713 15,908 1.5 %
Consumer and other38 — 97 — 135 — %
     Total$38 $21,233 $97 $1,713 $23,081 0.2 %
The following tables describe the financial effect of the modifications made to borrowers experiencing financial difficultly:
Three Months Ended September 30, 2024Weighted average term extension
(in months)		Weighted average payment deferral
(in months)		Weighted average interest rate reduction
Commercial and industrial1212—%
Construction36050.10%
Nine Months Ended September 30, 2024
Weighted average term extension
(in months)		Weighted average payment deferral
(in months)		Weighted average interest rate reduction
Commercial and industrial1212—
Construction4430.10%
Consumer and other25—1.49%
Schedule of Financing Receivable, Modified, Past Due The table below depicts the performance of loans HFI as of September 30, 2024 made to borrowers experiencing financial difficulty that were modified in the prior twelve months.
September 30, 202430-89 days
past due and accruing
interest		90 days or 
more and accruing
interest
Nonaccrual
loans(1)
Loans current
on payments
and accruing
interest 		Total
Commercial and industrial$— $— $7,038 $— $7,038 
Construction— — 1,713 14,195 15,908 
Residential real estate:
1-to-4 family mortgage— — 22 — 22 
Consumer and other32 — — 104 136 
Total$32 $— $8,773 $14,299 $23,104 
(1) Loans were on non-accrual when modified and subsequently classified as FDM.
Schedule of Individually Assessed Allowance for Credit Losses for Collateral Dependent Loans
For collateral-dependent loans, or those loans for which repayment is expected to be provided substantially through the operation or sale of collateral, where the borrower is also experiencing financial difficulty, the following tables present the loans and the corresponding individually assessed allowance for credit losses by class of financing receivable. Significant changes in individually assessed reserves are due to changes in the valuation of the underlying collateral in addition to changes in accrual and past due status.
September 30, 2024
Type of Collateral
Real EstateFarmlandBusiness AssetsTotalIndividually assessed allowance for credit loss
Commercial and industrial$— $— $21,061 $21,061 $9,722 
Construction22,060 1,653 — 23,713 907 
Residential real estate:
1-to-4 family mortgage1,562 — — 1,562 — 
Residential line of credit148 — — 148 — 
Commercial real estate:
Owner occupied— 6,415 — 6,415 — 
Non-owner occupied7,264 — — 7,264 — 
Total$31,034 $8,068 $21,061 $60,163 $10,629 
December 31, 2023
Type of Collateral
Real EstateFarmlandBusiness AssetsTotalIndividually assessed allowance for credit loss
Commercial and industrial$— $363 $20,599 $20,962 $4,946 
Construction8,224 — — 8,224 30 
Residential real estate:
1-to-4 family mortgage5,317 — — 5,317 129 
Residential line of credit1,245 — — 1,245 10 
Commercial real estate:
Owner occupied1,975 1,160 — 3,135 — 
Non-owner occupied3,316 — — 3,316 — 
Consumer and other112 — — 112 21 
Total$20,189 $1,523 $20,599 $42,311 $5,136 
Schedule of Changes in Allowance for Credit Losses on Loans HFI by Class of Financing Receivable
The following tables provide the changes in the allowance for credit losses on loans HFI by class of financing receivable for the three and nine months ended September 30, 2024 and 2023:
 Commercial
and industrial 		Construction1-to-4
family
residential
mortgage 		Residential
line of credit 		Multi-family
residential
mortgage 		Commercial
real estate
owner
occupied 		Commercial
real estate
non-owner
occupied 		Consumer
and other 		Total
Three Months Ended September 30, 2024
Beginning balance -
June 30, 2024
$22,530 $34,170 $25,631 $10,097 $8,810 $11,312 $24,543 $17,962 $155,055 
Provision for (reversal of)
    credit losses on loans
    HFI		1,670 (3,612)341 662 834 243 98 1,620 1,856 
Recoveries of loans
previously charged-off
23 — 9 18 — 12 — 202 264 
Loans charged off(90)— (2)(53)— — — (770)(915)
Ending balance -
September 30, 2024
$24,133 $30,558 $25,979 $10,724 $9,644 $11,567 $24,641 $19,014 $156,260 
Nine Months Ended September 30, 2024
Beginning balance -
December 31, 2023
$19,599 $35,372 $26,505 $9,468 $8,842 $10,653 $22,965 $16,922 $150,326 
Provision for (reversal of)
    credit losses on loans
    HFI		4,636 (4,722)(306)1,311 802 674 1,676 3,577 7,648 
Recoveries of loans
previously charged-off
57 — 75 18 — 240 — 651 1,041 
Loans charged off(159)(92)(295)(73)— — — (2,136)(2,755)
Ending balance -
September 30, 2024
$24,133 $30,558 $25,979 $10,724 $9,644 $11,567 $24,641 $19,014 $156,260 
 Commercial
and industrial 		Construction1-to-4
family
residential
mortgage 		Residential
line of credit 		Multi-family
residential
mortgage 		Commercial
real estate
owner
occupied 		Commercial
real estate
non-owner
occupied 		Consumer
and other 		Total
Three Months Ended September 30, 2023
Beginning balance -
June 30, 2023
$11,311 $39,920 $27,407 $9,185 $6,828 $8,467 $22,877 $14,669 $140,664 
Provision for (reversal of)
    credit losses on loans
    HFI		6,293 (2,025)(1,724)(23)20 2,046 (130)1,574 6,031 
Recoveries of loans
previously charged-off
112 — 16 1 — 13 — 93 235 
Loans charged off(154)— (4)— — — — (638)(796)
Ending balance -
September 30, 2023
$17,562 $37,895 $25,695 $9,163 $6,848 $10,526 $22,747 $15,698 $146,134 
Nine Months Ended September 30, 2023 
Beginning balance -
December 31, 2022
$11,106 $39,808 $26,141 $7,494 $6,490 $7,783 $21,916 $13,454 $134,192 
Provision for (reversal of)
    credit losses on loans
    HFI		6,475 (1,923)(466)1,668 358 2,792 831 3,868 13,603 
Recoveries of loans
previously charged-off
192 10 56 1 — 95 — 440 794 
Loans charged off(211)— (36)— — (144)— (2,064)(2,455)
Ending balance -
   September 30, 2023		$17,562 $37,895 $25,695 $9,163 $6,848 $10,526 $22,747 $15,698 $146,134 
v3.24.3
Other Real Estate Owned (Tables)
 9 Months Ended
Sep. 30, 2024
Real Estate [Abstract]  
Schedule of Other Real Estate Owned The following table summarizes the other real estate owned for the three and nine months ended September 30, 2024 and 2023: 
Three Months Ended September 30,Nine Months Ended September 30,
 2024202320242023
Balance at beginning of period$4,173 $1,974 $3,192 $5,794 
Transfers from loans— 64 2,400 657 
Transfers to other assets— (75)— (75)
Proceeds from sale of other real estate owned(412)(537)(1,846)(5,692)
Gain on sale of other real estate owned18 93 33 835 
Write-downs and partial liquidations— (15)— (15)
Balance at end of period$3,779 $1,504 $3,779 $1,504 
v3.24.3
Leases (Tables)
 9 Months Ended
Sep. 30, 2024
Leases [Abstract]  
Schedule of Information Related to Company's Leases and Lease Expense
Information related to the Company’s leases is presented below as of September 30, 2024 and December 31, 2023:
September 30,December 31,
Classification20242023
Right-of-use assets:
Operating leasesOperating lease right-of-use assets$47,346$54,295
Finance leasesPremises and equipment, net1,1731,256
Total right-of-use assets$48,519$55,551
Lease liabilities:
Operating leasesOperating lease liabilities$59,584$67,643
Finance leasesBorrowings 1,2541,326
Total lease liabilities $60,838$68,969
Weighted average remaining lease term (in years) -
    operating		11.111.6
Weighted average remaining lease term (in years) -
    finance		10.611.4
Weighted average discount rate - operating3.41 %3.39 %
Weighted average discount rate - finance1.76 %1.76 %
The components of total lease expense included in the consolidated statements of income were as follows:
Three Months EndedNine Months Ended
September 30,September 30,
Classification2024 2023 2024 2023 
Operating lease costs:
Amortization of right-of-use assetOccupancy and equipment$1,362 $2,104 $5,048 $6,226 
Short-term lease costOccupancy and equipment96 133 282 397 
Variable lease costOccupancy and equipment321 238 1,024 862 
Gain on lease modifications and
    terminations
Occupancy and equipment— — — (73)
Finance lease costs:
Interest on lease liabilitiesInterest expense on borrowings6 6 17 18 
Amortization of right-of-use assetOccupancy and equipment28 28 83 83 
Sublease income Occupancy and equipment(96)(254)(407)(750)
Total lease cost$1,717 $2,255 $6,047 $6,763 
Schedule of Maturity Analysis of Operating Lease Liabilities
A maturity analysis of operating and finance lease liabilities and a reconciliation of cash flows to lease liabilities as of September 30, 2024 is as follows:
OperatingFinance
Leases Lease
Lease payments due:
September 30, 2025$2,154 $30 
September 30, 20268,290 121 
September 30, 20278,016 123 
September 30, 20287,554 125 
September 30, 20296,579 127 
Thereafter40,285 850 
     Total undiscounted future minimum lease payments72,878 1,376 
Less: imputed interest(13,294)(122)
     Lease liabilities$59,584 $1,254 
Schedule of Maturity of Finance Lease Liabilities
A maturity analysis of operating and finance lease liabilities and a reconciliation of cash flows to lease liabilities as of September 30, 2024 is as follows:
OperatingFinance
Leases Lease
Lease payments due:
September 30, 2025$2,154 $30 
September 30, 20268,290 121 
September 30, 20278,016 123 
September 30, 20287,554 125 
September 30, 20296,579 127 
Thereafter40,285 850 
     Total undiscounted future minimum lease payments72,878 1,376 
Less: imputed interest(13,294)(122)
     Lease liabilities$59,584 $1,254 
v3.24.3
Mortgage Servicing Rights (Tables)
 9 Months Ended
Sep. 30, 2024
Transfers and Servicing of Financial Assets [Abstract]  
Schedule of Changes in Mortgage Servicing Rights
Changes in the Company’s mortgage servicing rights were as follows for the three and nine months ended September 30, 2024 and 2023:
Three Months Ended September 30,Nine Months Ended September 30,
 202420232024 2023 
Carrying value at beginning of period$164,505 $166,433 $164,249 $168,365 
Capitalization1,418 2,073 4,067 6,134 
Change in fair value:
    Due to payoffs/paydowns
(3,518)(3,306)(10,067)(9,095)
    Due to change in valuation inputs or assumptions(5,308)7,510 (1,152)7,306 
        Carrying value at end of period$157,097 $172,710 $157,097 $172,710 
Schedule of Servicing Income and Expense Included in Mortgage Banking Income
The following table summarizes servicing income and expense, which are included in mortgage banking income and other noninterest expense, respectively, in the consolidated statements of income for the three and nine months ended September 30, 2024 and 2023: 
 Three Months Ended September 30,Nine Months Ended September 30,
 202420232024 2023 
   Servicing income$7,244 $7,363 $21,907 $22,717 
   Change in fair value of mortgage servicing rights(8,826)4,204 (11,219)(1,789)
   Change in fair value of derivative hedging instruments4,336 (7,928)(648)(9,564)
Servicing income
2,754 3,639 10,040 11,364 
Servicing expenses1,732 1,953 5,612 6,167 
          Net servicing income
$1,022 $1,686 $4,428 $5,197 
Schedule of Data and Key Economic Assumptions Related to Mortgage Servicing Rights
Data and key economic assumptions related to the Company’s mortgage servicing rights as of September 30, 2024 and December 31, 2023 are as follows: 
 September 30,December 31,
 20242023
Unpaid principal balance of mortgage loans sold and serviced for others$10,402,118 $10,762,906 
Weighted-average prepayment speed (CPR)6.81 %6.19 %
Estimated impact on fair value of a 10% increase$(4,563)$(4,616)
Estimated impact on fair value of a 20% increase$(8,819)$(8,924)
Discount rate9.48 %9.62 %
Estimated impact on fair value of a 100 bp increase$(7,286)$(7,637)
Estimated impact on fair value of a 200 bp increase$(13,960)$(14,624)
Weighted-average coupon interest rate3.57 %3.47 %
Weighted-average servicing fee (basis points)2727
Weighted-average remaining maturity (in months)336334
v3.24.3
Income Taxes (Tables)
 9 Months Ended
Sep. 30, 2024
Income Tax Disclosure [Abstract]  
Schedule of Reconciliation of Income Taxes
The following table presents a reconciliation of income taxes for the three and nine months ended September 30, 2024 and 2023:
 Three Months Ended September 30,Nine Months Ended September 30,
 2024 2023 2024 2023 
Federal taxes calculated at
    statutory rate		$2,392 21.0 %$4,862 21.0 %$20,275 21.0 %$24,018 21.0 %
 (Decrease) increase resulting
    from:
State taxes, net of federal
   benefit		(986)(8.7)%(469)(2.0)%(776)(0.8)%429 0.4 %
(Benefit) expense from equity based compensation(1)— %(11)— %75 0.1 %173 0.2 %
Municipal interest income,
  net of interest
  disallowance		(313)(2.7)%(448)(1.9)%(1,014)(1.1)%(1,355)(1.2)%
Bank-owned life insurance(81)(0.7)%(84)(0.4)%(692)(0.7)%(290)(0.3)%
Section 162(m) limitation43 0.4 %57 0.2 %247 0.3 %287 0.3 %
Other120 1.0 %68 0.3 %278 0.3 %245 0.2 %
Income tax expense, as
   reported		$1,174 10.3 %$3,975 17.2 %$18,393 19.1 %$23,507 20.6 %
v3.24.3
Commitments and Contingencies (Tables)
 9 Months Ended
Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Financial Instruments with Off-Balance Sheet Credit Risk
September 30,December 31,
 2024 2023 
Commitments to extend credit, excluding interest rate lock commitments$2,713,360 $2,906,016 
Letters of credit82,284 77,055 
Balance at end of period$2,795,644 $2,983,071 
Schedule of Allowance of Credit Losses on Unfunded Commitments
The table below presents activity within the allowance for credit losses on unfunded loan commitments included in accrued expenses and other liabilities on the Company’s consolidated balance sheets:
Three Months Ended September 30,Nine Months Ended September 30,
2024 20232024 2023 
Balance at beginning of period$5,984 $14,810 $8,770 $22,969 
Provision for (reversal of) credit losses on unfunded
   commitments		58 (3,210)(2,728)(11,369)
Balance at end of period$6,042 $11,600 $6,042 $11,600 
Schedule of Activity in the Repurchase Reserve The following table summarizes this activity:
Three Months Ended September 30,Nine Months Ended September 30,
 2024 2023 2024 2023 
Balance at beginning of period$811 $1,129 $899 $1,621 
Provision for (reversal of) loan repurchases or
   indemnifications		75 (200)200 (650)
Losses on loans repurchased or indemnified(178)— (391)(42)
Balance at end of period$708 $929 $708 $929 
v3.24.3
Derivatives (Tables)
 9 Months Ended
Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following discloses the amount of expense included in interest expense on deposits and borrowings, related to the Company's fair value hedging instruments:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Designated fair value hedge:
     Interest expense on deposits$— $(1,927)$— $(5,204)
     Interest expense on borrowings— (977)(645)(2,631)
       Total$— $(2,904)$(645)$(7,835)
Schedule of Derivative Liabilities at Fair Value
The following amounts were recorded on the balance sheet related to cumulative adjustments of fair value hedges as of December 31, 2023:
December 31, 2023
Line item on the balance sheetCarrying amount of the hedged itemCumulative decrease in fair value hedging adjustment included in the carrying amount of the hedged item
Money market and savings deposits$198,143 
(1)
$(4,497)
Borrowings98,715 
(2)
(673)
      Total$296,858 $(5,170)
(1) The carrying value also includes an unaccreted purchase accounting fair value premium of $2,640 as of December 31, 2023.
(2) The carrying value also includes unamortized subordinated debt issuance costs of $612 as of December 31, 2023.
Schedule of Derivative Financial Instruments
The following tables provide details on the Company’s non-designated derivative financial instruments as of the dates presented:
September 30, 2024
Notional AmountAssetLiability
  Interest rate contracts$542,155 $24,725 $24,763 
  Forward commitments240,000 — 393 
  Interest rate-lock commitments105,714 1,398 — 
  Futures contracts263,500 — 1,334 
    Total$1,151,369 $26,123 $26,490 
 December 31, 2023
 Notional AmountAssetLiability
  Interest rate contracts$569,865 $32,179 $32,184 
  Forward commitments159,000 — 861 
  Interest rate-lock commitments69,217 1,203 — 
  Futures contracts254,000 777 — 
    Total$1,052,082 $34,159 $33,045 
Schedule of Gains (Losses) Included in the Consolidated Statements of Income Related to Derivative Financial Instruments
The following discloses the amount included in other comprehensive income (loss), net of tax, for derivative instruments designated as cash flow hedges for the periods presented:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Amount of loss recognized in other comprehensive
 income (loss), net of tax benefit of $21, $35, $151 and $99
$(59)$(101)$(428)$(281)
Gains (losses) included in the consolidated statements of income related to the Company’s non-designated derivative financial instruments were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
 2024 2023 2024 2023 
Included in mortgage banking income:
  Interest rate lock commitments$18 $(537)$194 $(358)
  Forward commitments(1,549)1,418 (1,115)2,154 
  Futures contracts3,612 (7,009)(787)(7,593)
  Option contracts— — — (1,125)
    Total$2,081 $(6,128)$(1,708)$(6,922)
Schedule of Offsetting Assets
Gross amounts not offset on the consolidated balance sheets
Gross amounts recognizedGross amounts offset on the consolidated balance sheetsNet amounts presented on the consolidated balance sheetsFinancial instrumentsFinancial collateral pledgedNet Amount
September 30, 2024
Derivative financial assets$21,372 $— $21,372 $3,452 $— $17,920 
Derivative financial liabilities$9,721 $— $9,721 $3,452 $6,269 $— 
December 31, 2023
Derivative financial assets$31,468 $— $31,468 $6,502 $— $24,966 
Derivative financial liabilities$11,330 $— $11,330 $6,502 $4,828 $— 
Schedule of Offsetting Liabilities
Gross amounts not offset on the consolidated balance sheets
Gross amounts recognizedGross amounts offset on the consolidated balance sheetsNet amounts presented on the consolidated balance sheetsFinancial instrumentsFinancial collateral pledgedNet Amount
September 30, 2024
Derivative financial assets$21,372 $— $21,372 $3,452 $— $17,920 
Derivative financial liabilities$9,721 $— $9,721 $3,452 $6,269 $— 
December 31, 2023
Derivative financial assets$31,468 $— $31,468 $6,502 $— $24,966 
Derivative financial liabilities$11,330 $— $11,330 $6,502 $4,828 $— 
v3.24.3
Fair Value of Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
Schedule of Balances and Levels of Assets Measured at Fair Value on Recurring Basis
The balances and levels of the assets and liabilities measured at fair value on a recurring basis as of September 30, 2024 and December 31, 2023 are presented in the following tables:
At September 30, 2024Quoted prices
in active
markets for
identical assets
(liabilities)
(level 1)		Significant
other
observable
inputs
(level 2) 		Significant unobservable
inputs
(level 3) 		Total
Recurring valuations:    
Financial assets:     
AFS debt securities:    
U.S. government agency securities$— $516,833 $— $516,833 
Mortgage-backed securities - residential— 879,589 — 879,589 
Mortgage-backed securities - commercial— 16,289 — 16,289 
Municipal securities— 154,229 — 154,229 
Corporate securities— 982 — 982 
Total securities$— $1,567,922 $— $1,567,922 
Loans held for sale, at fair value$— $72,608 $— $72,608 
Mortgage servicing rights— — 157,097 157,097 
Derivatives— 26,123 — 26,123 
Financial Liabilities:
Derivatives— 26,490 — 26,490 
At December 31, 2023Quoted prices
in active
markets for
identical assets
(liabilities)
(level 1)		Significant
other
observable
inputs
(level 2) 		Significant unobservable
inputs
(level 3) 		Total
Recurring valuations:    
Financial assets:     
AFS debt securities:    
U.S. government agency securities$— $203,956 $— $203,956 
Mortgage-backed securities - residential— 896,971 — 896,971 
Mortgage-backed securities - commercial— 16,961 — 16,961 
Municipal securities — 242,263 — 242,263 
U.S. Treasury securities— 108,496 — 108,496 
Corporate securities— 3,326 — 3,326 
Total securities$— $1,471,973 $— $1,471,973 
Loans held for sale, at fair value$— $46,618 $— $46,618 
Mortgage servicing rights— — 164,249 164,249 
Derivatives— 34,738 — 34,738 
Financial Liabilities:
Derivatives— 38,215 — 38,215 
Schedule of Balances and Levels of Assets Measured at Fair Value on Non-recurring Basis
The balances and levels of the assets measured at fair value on a nonrecurring basis as of September 30, 2024 and December 31, 2023 are presented in the following tables: 
At September 30, 2024Quoted prices
in active
markets for
identical assets
(liabilities
(level 1)		Significant
other
observable
inputs
(level 2) 		Significant unobservable
inputs
(level 3) 		Total
Nonrecurring valuations:    
Financial assets:    
Other real estate owned$— $— $2,243 $2,243 
Collateral-dependent net loans held for
   investment:
Commercial and industrial— — 2,350 2,350 
Construction— — 6,958 6,958 
Total collateral-dependent loans$— $— $9,308 $9,308 
 
At December 31, 2023Quoted prices
in active
markets for
identical assets
(liabilities)
(level 1)		Significant
other
observable
inputs
(level 2)		Significant unobservable
inputs
(level 3)		Total
Nonrecurring valuations:    
Financial assets:    
Other real estate owned$— $— $2,400 $2,400 
Collateral-dependent net loans held for
    investment:
Commercial and industrial$— $— $12,338 $12,338 
Construction— — 203 203 
Residential real estate:
1-4 family mortgage— — 429 429 
Consumer and other— — 71 71 
Total collateral-dependent loans$— $— $13,041 $13,041 
The following table sets forth the changes in fair value associated with this portfolio for the three and nine months ended September 30, 2023:
Three Months Ended September 30, 2023
Principal balanceFair Value discountFair Value
Carrying value at beginning of period$12,232 $(2,965)$9,267 
Change in fair value:
  Changes in valuation included in other noninterest income— (7)(7)
    Carrying value at end of period$12,232 $(2,972)$9,260 
Nine Months Ended September 30, 2023
Principal balanceFair Value discountFair Value
Carrying value at beginning of period$34,357 $(3,867)$30,490 
Change in fair value:
   Paydowns and payoffs(22,125)— (22,125)
   Changes in valuation included in other noninterest income— 895 895 
      Carrying value at end of period$12,232 $(2,972)$9,260 
Schedule of Information About Significant Unobservable Inputs (Level 3) Used in Valuation of Assets Measured at Fair Value on Nonrecurring Basis
The following tables present information as of September 30, 2024 and December 31, 2023 about significant unobservable inputs (Level 3) used in the valuation of assets measured at fair value on a nonrecurring basis:
September 30, 2024
Financial instrumentFair ValueValuation techniqueSignificant 
unobservable inputs		Range of
inputs
Collateral-dependent net loans
   held for investment		$9,308 Valuation of collateralDiscount for comparable sales
10%-70%
Other real estate owned$2,243 Appraised value of property less costs to sellDiscount for costs to sell
0%-15%
December 31, 2023
Financial instrumentFair ValueValuation techniqueSignificant 
unobservable inputs		Range of
inputs
Collateral-dependent net loans
    held for investment		$13,041 Valuation of collateralDiscount for comparable sales
10%-61%
Other real estate owned$2,400 Appraised value of property less costs to sellDiscount for costs to sell
0%-15%
Schedule of Loans Held For Sale at Fair Value
The following table summarizes the Company’s loans held for sale as of the dates presented:
September 30,December 31,
20242023
Loans held for sale under a fair value option:
  Mortgage loans held for sale72,608 46,618 
Loans held for sale not accounted for under a fair value option:
  Mortgage loans held for sale - guaranteed GNMA repurchase option30,537 21,229 
               Total loans held for sale$103,145 $67,847 
Schedule of Differences between Fair Value and Principal Balance for Loans Held for Sale Measured at Fair Value
The following table summarizes the differences between the fair value and the principal balance for mortgage loans held for sale measured at fair value as of September 30, 2024 and December 31, 2023: 
September 30,December 31,
20242023
Aggregate fair value$72,608 $46,618 
Aggregate unpaid principal balance71,184 45,509 
     Difference$1,424 $1,109 
Schedule of Estimated Fair Values and Carrying Values of Financial Instruments
The following table contains the estimated fair values and the related carrying values of the Company’s financial instruments. Non-financial instruments are excluded from the table below.
 
 Fair Value
September 30, 2024Carrying amount Level 1Level 2Level 3Total
Financial assets:     
Cash and cash equivalents$951,750 $951,750 $— $— $951,750 
Investment securities1,567,922 — 1,567,922 — 1,567,922 
Net loans held for investment9,321,869 — — 9,053,392 9,053,392 
Loans held for sale, at fair value72,608 — 72,608 — 72,608 
Interest receivable52,228 1,304 7,421 43,503 52,228 
Mortgage servicing rights157,097 — — 157,097 157,097 
Derivatives26,123 — 26,123 — 26,123 
Financial liabilities: 
Deposits: 
Without stated maturities$9,078,893 $9,078,893 $— $— $9,078,893 
With stated maturities1,897,318 — 1,899,602 — 1,899,602 
Securities sold under agreements to
repurchase and federal funds purchased
19,708 19,708 — — 19,708 
Subordinated debt, net130,608 — — 125,625 125,625 
Interest payable20,581 4,052 16,154 375 20,581 
Derivatives26,490 — 26,490 — 26,490 
 
 Fair Value
December 31, 2023Carrying amount Level 1Level 2Level 3Total
Financial assets:     
Cash and cash equivalents$810,932 $810,932 $— $— $810,932 
Investment securities1,471,973 — 1,471,973 — 1,471,973 
Net loans held for investment9,258,457 — — 9,068,518 9,068,518 
Loans held for sale, at fair value46,618 — 46,618 — 46,618 
Interest receivable52,715 388 8,551 43,776 52,715 
Mortgage servicing rights164,249 — — 164,249 164,249 
Derivatives34,738 — 34,738 — 34,738 
Financial liabilities: 
Deposits: 
Without stated maturities$8,927,654 $8,927,654 $— $— $8,927,654 
With stated maturities1,620,633 — 1,614,400 — 1,614,400 
Securities sold under agreements to
repurchase and federal funds purchased
108,764 108,764 — — 108,764 
Bank Term Funding Program130,000 — 130,000 — 130,000 
Subordinated debt, net129,645 — — 122,671 122,671 
Interest payable18,809 4,104 13,205 1,500 18,809 
Derivatives38,215 — 38,215 — 38,215 
v3.24.3
Segment Reporting (Tables)
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Schedule of Segment Financial Information
The following tables present selected financial information with respect to the Company’s reportable segments for the three and nine months ended September 30, 2024 and 2023.
Three Months Ended September 30, 2024BankingMortgageConsolidated
Net interest income$104,335 $1,682 $106,017 
Provisions for credit losses 1,861 53 1,914 
Mortgage banking income— 16,043 16,043 
Change in fair value of mortgage servicing rights, net of hedging(1)
— (4,490)(4,490)
Other noninterest (loss) income(28,370)320 (28,050)
Depreciation and amortization3,141 114 3,255 
Amortization of intangibles719 — 719 
Other noninterest mortgage banking expense— — — 
Other noninterest expense59,425 12,813 72,238 
Income before income taxes$10,819 $575 $11,394 
Income tax expense1,174 
Net income applicable to FB Financial Corporation and noncontrolling
interest
10,220 
Net income applicable to noncontrolling interest— 
Net income applicable to FB Financial Corporation$10,220 
Total assets$12,337,135 $583,087 $12,920,222 
Goodwill242,561 — 242,561 
(1) Change in fair value of mortgage servicing rights, net of hedging is included in Mortgage banking income in the Company's consolidated statements of income.


Three Months Ended September 30, 2023BankingMortgageConsolidated
Net interest income$99,359 $1,567 $100,926 
Provisions for (reversals of) credit losses 3,253 (432)2,821 
Mortgage banking income— 15,722 15,722 
Change in fair value of mortgage servicing rights, net of hedging(1)
— (3,724)(3,724)
Other noninterest (loss) income(4,031)75 (3,956)
Depreciation and amortization2,514 167 2,681 
Amortization of intangibles889 — 889 
Other noninterest mortgage banking expense— — — 
Other noninterest expense65,309 14,118 79,427 
Income (loss) before income taxes$23,363 $(213)$23,150 
Income tax expense3,975 
Net income applicable to FB Financial Corporation and noncontrolling
interest
19,175 
Net income applicable to noncontrolling interest— 
Net income applicable to FB Financial Corporation$19,175 
Total assets$11,904,608 $585,023 $12,489,631 
Goodwill242,561 — 242,561 
(1) Change in fair value of mortgage servicing rights, net of hedging is included in Mortgage banking income in the Company's consolidated statements of income.
Nine Months Ended September 30, 2024
Banking(2)
MortgageConsolidated
Net interest income$303,990 $4,132 $308,122 
Provisions for (reversals of) credit losses 5,131 (211)4,920 
Mortgage banking income— 47,915 47,915 
Change in fair value of mortgage servicing rights, net of hedging(1)
— (11,867)(11,867)
Other noninterest (loss) income(19,687)712 (18,975)
Depreciation and amortization8,594 363 8,957 
Amortization of intangibles2,260 — 2,260 
Other noninterest expense175,104 37,404 212,508 
Income before income taxes$93,214 $3,336 $96,550 
Income tax expense18,393 
Net income applicable to FB Financial Corporation and noncontrolling
interest
78,157 
Net income applicable to noncontrolling interest(2)
8 
Net income applicable to FB Financial Corporation$78,149 
Total assets$12,337,135 $583,087 $12,920,222 
Goodwill242,561 — 242,561 
(1) Change in fair value of mortgage servicing rights, net of hedging is included in Mortgage banking income in the Company's consolidated statements of income.
(2) Banking segment includes noncontrolling interest.




Nine Months Ended September 30, 2023
Banking(2)
MortgageConsolidated
Net interest income$301,438 $4,691 $306,129 
Provisions for (reversals of) credit losses 2,316 (82)2,234 
Mortgage banking income— 47,669 47,669 
Change in fair value of mortgage servicing rights, net of hedging(1)
— (11,353)(11,353)
Other noninterest income (loss)18,942 (54)18,888 
Depreciation and amortization6,783 578 7,361 
Amortization of intangibles2,819 — 2,819 
Other noninterest expense192,070 42,479 234,549 
Income (loss) before income taxes$116,392 $(2,022)$114,370 
Income tax expense23,507 
Net income applicable to FB Financial Corporation and noncontrolling
interest
90,863 
Net income applicable to noncontrolling interest(2)
8 
Net income applicable to FB Financial Corporation$90,855 
Total assets$11,904,608 $585,023 $12,489,631 
Goodwill242,561 — 242,561 
(1) Change in fair value of mortgage servicing rights, net of hedging is included in Mortgage banking income in the Company's consolidated statements of income.
(2) Banking segment includes noncontrolling interest.
v3.24.3
Minimum Capital Requirements (Tables)
 9 Months Ended
Sep. 30, 2024
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]  
Schedule of Actual and Required Capital Amounts and Ratios
Actual and required capital amounts and ratios are included below as of the dates indicated.

September 30, 2024
ActualMinimum Requirement for Capital Adequacy with
Capital Buffer		To Qualify as Well-Capitalized Under Prompt Corrective Action Provisions
AmountRatioAmountRatioAmountRatio
Total Capital (to risk-weighted assets)      
FB Financial Corporation$1,686,651 15.1 %$1,170,701 10.5 %N/AN/A
FirstBank1,651,199 14.9 %1,167,269 10.5 %$1,111,684 10.0 %
Tier 1 Capital (to risk-weighted assets)
FB Financial Corporation$1,447,410 13.0 %$947,711 8.5 %N/AN/A
FirstBank1,412,362 12.7 %944,932 8.5 %$889,347 8.0 %
Common Equity Tier 1 Capital
   (to risk-weighted assets)
FB Financial Corporation$1,417,410 12.7 %$780,468 7.0 %N/AN/A
FirstBank1,412,362 12.7 %778,179 7.0 %$722,595 6.5 %
Tier 1 Capital (to average assets)
FB Financial Corporation$1,447,410 11.5 %$505,439 4.0 %N/AN/A
FirstBank1,412,362 11.2 %504,643 4.0 %$630,804 5.0 %
December 31, 2023ActualMinimum Requirement for Capital Adequacy with
Capital Buffer		To Qualify as Well-Capitalized Under Prompt Corrective Action Provisions
AmountRatioAmountRatioAmountRatio
Total Capital (to risk-weighted assets)      
FB Financial Corporation$1,635,848 14.5 %$1,182,028 10.5 %N/AN/A
FirstBank1,600,950 14.2 %1,179,886 10.5 %$1,123,701 10.0 %
Tier 1 Capital (to risk-weighted assets)
FB Financial Corporation$1,405,890 12.5 %$956,880 8.5 %N/AN/A
FirstBank1,370,991 12.2 %955,145 8.5 %$898,960 8.0 %
Common Equity Tier 1 Capital
(to risk-weighted assets)
FB Financial Corporation$1,375,890 12.2 %$788,018 7.0 %N/AN/A
FirstBank1,370,991 12.2 %786,590 7.0 %$730,405 6.5 %
Tier 1 Capital (to average assets)
FB Financial Corporation$1,405,890 11.3 %$496,485 4.0 %N/AN/A
FirstBank1,370,991 11.1 %495,761 4.0 %$619,701 5.0 %
v3.24.3
Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Changes in Restricted Stock Units
The following table summarizes changes in RSUs for the nine months ended September 30, 2024:
 Restricted Stock
Units
Outstanding		Weighted
Average Grant
Date
Fair Value
Balance at beginning of period (unvested)323,520 $37.52 
Granted178,570 35.87 
Vested(144,860)37.94 
Forfeited(8,279)37.55 
Balance at end of period (unvested)348,951 $36.51 
Schedule of Changes in Performance Stock Units
The following table summarizes information about the changes in PSUs as of and for the nine months ended September 30, 2024:
Performance Stock
Units
Outstanding(1)
Weighted
Average Grant
Date
Fair Value
Balance at beginning of period (unvested)176,163 $40.86 
Granted100,267 35.60 
Performance adjustment (2)
(9,778)42.71 
Vested(40,071)42.71 
Forfeited or expired(3,188)38.07 
Balance at end of period (unvested)223,393 $38.06 
(1) PSUs are presented as outstanding, granted and forfeited in the table above assuming targets are met and the awards pay out at 100%.
(2) The performance adjustment represents the difference in shares ultimately awarded due to performance attainment above or below target.
Schedule of Share-Based Payment Arrangement, Performance Shares, Activity The following table summarizes data related to the Company’s outstanding PSUs as of September 30, 2024:
Grant YearGrant PricePerformance PeriodPSUs Outstanding
2022$44.44 2022 to 202448,710
2023$37.17 2023 to 202575,893
2024$35.60 2024 to 202698,790
v3.24.3
Related Party Transactions (Tables)
 9 Months Ended
Sep. 30, 2024
Related Party Transactions [Abstract]  
Schedule of Loans Analysis to Executive Officers, Certain Management, Bank Directors and Related Interests
An analysis of loans to management, executive officers, the directors and significant shareholders of the Bank and their related interests is presented below:
Loans outstanding at January 1, 2024$49,073 
New loans and advances1,681 
Change in related party status— 
Repayments(22,002)
Loans outstanding at September 30, 2024$28,752 
v3.24.3
Basis of Presentation - Narrative (Details)
Sep. 30, 2024
branch
Accounting Policies [Abstract]  
Number of full-service branches 77
v3.24.3
Basis of Presentation - Schedule of Basic and Diluted Earnings Per Common Share Calculation (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Basic earnings per common share:        
Net income applicable to FB Financial Corporation $ 10,220 $ 19,175 $ 78,149 $ 90,855
Dividends paid on and undistributed earnings allocated to participating securities 0 0 0 0
Earnings available to common shareholders $ 10,220 $ 19,175 $ 78,149 $ 90,855
Weighted average basic shares outstanding (in shares) 46,650,563 46,818,612 46,762,213 46,759,703
Basic earnings per common share (in dollars per share) $ 0.22 $ 0.41 $ 1.67 $ 1.94
Diluted earnings per common share:        
Earnings available to common shareholders $ 10,220 $ 19,175 $ 78,149 $ 90,855
Weighted average basic shares outstanding (in shares) 46,650,563 46,818,612 46,762,213 46,759,703
Weighted average diluted shares contingently issuable (in shares) 152,767 37,810 111,824 42,840
Weighted average diluted shares outstanding (in shares) 46,803,330 46,856,422 46,874,037 46,802,543
Diluted earnings per common share (in dollars per share) $ 0.22 $ 0.41 $ 1.67 $ 1.94
Restricted Stock Units        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Restricted stock units outstanding considered to be antidilutive (in shares) 4 217,546 904 218,815
v3.24.3
Investment Securities - Schedule of Amortized Cost of Securities and Fair Values (Details) - USD ($)
Sep. 30, 2024
Dec. 31, 2023
Debt Securities, Available-for-sale [Abstract]    
Amortized cost, AFS debt securities $ 1,673,079,000 $ 1,658,779,000
Gross unrealized gains 3,015,000 840,000
Gross unrealized losses (108,172,000) (187,646,000)
Allowance for credit losses on investments 0 0
Fair Value 1,567,922,000 1,471,973,000
U.S. government agency securities    
Debt Securities, Available-for-sale [Abstract]    
Amortized cost, AFS debt securities 515,775,000 204,663,000
Gross unrealized gains 1,401,000 470,000
Gross unrealized losses (343,000) (1,177,000)
Allowance for credit losses on investments 0 0
Fair Value 516,833,000 203,956,000
Mortgage-backed securities - residential    
Debt Securities, Available-for-sale [Abstract]    
Amortized cost, AFS debt securities 968,294,000 1,057,389,000
Gross unrealized gains 1,471,000 0
Gross unrealized losses (90,176,000) (160,418,000)
Allowance for credit losses on investments 0 0
Fair Value 879,589,000 896,971,000
Mortgage-backed securities - commercial    
Debt Securities, Available-for-sale [Abstract]    
Amortized cost, AFS debt securities 17,147,000 18,186,000
Gross unrealized gains 0 0
Gross unrealized losses (858,000) (1,225,000)
Allowance for credit losses on investments 0 0
Fair Value 16,289,000 16,961,000
Municipal securities    
Debt Securities, Available-for-sale [Abstract]    
Amortized cost, AFS debt securities 170,865,000 263,312,000
Gross unrealized gains 143,000 370,000
Gross unrealized losses (16,779,000) (21,419,000)
Allowance for credit losses on investments 0 0
Fair Value 154,229,000 242,263,000
U.S. Treasury securities    
Debt Securities, Available-for-sale [Abstract]    
Amortized cost, AFS debt securities   111,729,000
Gross unrealized gains   0
Gross unrealized losses   (3,233,000)
Allowance for credit losses on investments   0
Fair Value   108,496,000
Corporate securities    
Debt Securities, Available-for-sale [Abstract]    
Amortized cost, AFS debt securities 998,000 3,500,000
Gross unrealized gains 0 0
Gross unrealized losses (16,000) (174,000)
Allowance for credit losses on investments 0 0
Fair Value $ 982,000 $ 3,326,000
v3.24.3
Investment Securities - Narrative (Details)
Sep. 30, 2024
USD ($)
security
Dec. 31, 2023
USD ($)
security
Debt and Equity Securities, FV-NI [Line Items]    
Accrued interest receivable $ 52,228,000 $ 52,715,000
Trade date receivables settled after period end 365,000 0
Trade date payables settled after period end 0 0
Allowance for credit losses on investments $ 0 $ 0
Number of securities in securities portfolio | security 266 439
Number of securities in securities portfolio, unrealized loss position | security 207 370
Equity securities without readily determinable market value $ 23,301,000 $ 25,191,000
Equity method investments 20,000,000  
Federal home loan bank stock 32,859,000 34,190,000
Collateral Pledged    
Debt and Equity Securities, FV-NI [Line Items]    
Securities pledged 1,057,384,000 929,546,000
Debt Securities    
Debt and Equity Securities, FV-NI [Line Items]    
Accrued interest receivable $ 5,848,000 $ 7,212,000
v3.24.3
Investment Securities - Schedule of Gross Unrealized Losses (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Debt Securities, Available-for-sale [Abstract]    
Fair Value, Less than 12 months $ 167,776 $ 40,403
Gross Unrealized Loss , Less than 12 months (2,110) (169)
Fair Value, 12 months or more 603,903 1,228,463
Gross Unrealized Loss , 12 months or more (106,062) (187,477)
Fair Value, Total 771,679 1,268,866
Gross Unrealized Loss , Total (108,172) (187,646)
U.S. government agency securities    
Debt Securities, Available-for-sale [Abstract]    
Fair Value, Less than 12 months 143,783 25,923
Gross Unrealized Loss , Less than 12 months (338) (21)
Fair Value, 12 months or more 816 14,040
Gross Unrealized Loss , 12 months or more (5) (1,156)
Fair Value, Total 144,599 39,963
Gross Unrealized Loss , Total (343) (1,177)
Mortgage-backed securities - residential    
Debt Securities, Available-for-sale [Abstract]    
Fair Value, Less than 12 months 0 0
Gross Unrealized Loss , Less than 12 months 0 0
Fair Value, 12 months or more 470,625 896,971
Gross Unrealized Loss , 12 months or more (90,176) (160,418)
Fair Value, Total 470,625 896,971
Gross Unrealized Loss , Total (90,176) (160,418)
Mortgage-backed securities - commercial    
Debt Securities, Available-for-sale [Abstract]    
Fair Value, Less than 12 months 0 0
Gross Unrealized Loss , Less than 12 months 0 0
Fair Value, 12 months or more 16,289 16,961
Gross Unrealized Loss , 12 months or more (858) (1,225)
Fair Value, Total 16,289 16,961
Gross Unrealized Loss , Total (858) (1,225)
Municipal securities    
Debt Securities, Available-for-sale [Abstract]    
Fair Value, Less than 12 months 23,993 14,480
Gross Unrealized Loss , Less than 12 months (1,772) (148)
Fair Value, 12 months or more 115,191 188,669
Gross Unrealized Loss , 12 months or more (15,007) (21,271)
Fair Value, Total 139,184 203,149
Gross Unrealized Loss , Total (16,779) (21,419)
U.S. Treasury securities    
Debt Securities, Available-for-sale [Abstract]    
Fair Value, Less than 12 months   0
Gross Unrealized Loss , Less than 12 months   0
Fair Value, 12 months or more   108,496
Gross Unrealized Loss , 12 months or more   (3,233)
Fair Value, Total   108,496
Gross Unrealized Loss , Total   (3,233)
Corporate securities    
Debt Securities, Available-for-sale [Abstract]    
Fair Value, Less than 12 months 0 0
Gross Unrealized Loss , Less than 12 months 0 0
Fair Value, 12 months or more 982 3,326
Gross Unrealized Loss , 12 months or more (16) (174)
Fair Value, Total 982 3,326
Gross Unrealized Loss , Total $ (16) $ (174)
v3.24.3
Investment Securities - Schedule of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Amortized cost    
Due in one year or less $ 1,895 $ 64,776
Due in one to five years 4,189 75,996
Due in five to ten years 229,469 51,162
Due in over ten years 452,085 391,270
Amortized cost, sub-total 687,638 583,204
Amortized cost, AFS debt securities 1,673,079 1,658,779
Fair Value    
Due in one year or less 1,892 64,279
Due in one to five years 4,143 71,801
Due in five to ten years 228,476 49,630
Due in over ten years 437,533 372,331
Fair value, sub-total 672,044 558,041
Total AFS debt securities 1,567,922 1,471,973
Mortgage-backed securities - residential    
Amortized cost    
Mortgage-backed securities 968,294 1,057,389
Amortized cost, AFS debt securities 968,294 1,057,389
Fair Value    
Mortgage-backed securities 879,589 896,971
Total AFS debt securities 879,589 896,971
Mortgage-backed securities - commercial    
Amortized cost    
Mortgage-backed securities 17,147 18,186
Amortized cost, AFS debt securities 17,147 18,186
Fair Value    
Mortgage-backed securities 16,289 16,961
Total AFS debt securities $ 16,289 $ 16,961
v3.24.3
Investment Securities - Schedule of Sales and Other Dispositions of Available-for-Sale Securities (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]        
Proceeds from sales $ 318,194 $ 75,857 $ 526,076 $ 75,857
Proceeds from maturities, prepayments and calls 89,834 32,946 224,070 91,361
Gross realized gains 0 19 90 19
Gross realized losses $ 40,165 $ 14,119 $ 56,468 $ 14,119
v3.24.3
Loans and Allowance for Credit Losses on Loans HFI - Schedule of Loans Outstanding by Class of Financing Receivable (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Jun. 30, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Dec. 31, 2022
Financing Receivable, Past Due [Line Items]            
Gross loans $ 9,478,129   $ 9,408,783      
Less: Allowance for credit losses on loans HFI (156,260) $ (155,055) (150,326) $ (146,134) $ (140,664) $ (134,192)
Net loans held for investment 9,321,869   9,258,457      
Commercial and industrial            
Financing Receivable, Past Due [Line Items]            
Gross loans 1,688,815   1,720,733      
Less: Allowance for credit losses on loans HFI (24,133) (22,530) (19,599) (17,562) (11,311) (11,106)
Construction            
Financing Receivable, Past Due [Line Items]            
Gross loans 1,079,726   1,397,313      
Less: Allowance for credit losses on loans HFI (30,558) (34,170) (35,372) (37,895) (39,920) (39,808)
Residential real estate: | 1-to-4 family mortgage            
Financing Receivable, Past Due [Line Items]            
Gross loans 1,612,031   1,568,552      
Less: Allowance for credit losses on loans HFI (25,979) (25,631) (26,505) (25,695) (27,407) (26,141)
Residential real estate: | Residential line of credit            
Financing Receivable, Past Due [Line Items]            
Gross loans 591,049   530,912      
Less: Allowance for credit losses on loans HFI (10,724) (10,097) (9,468) (9,163) (9,185) (7,494)
Residential real estate: | Multi-family mortgage            
Financing Receivable, Past Due [Line Items]            
Gross loans 654,188   603,804      
Less: Allowance for credit losses on loans HFI (9,644) (8,810) (8,842) (6,848) (6,828) (6,490)
Commercial real estate: | Owner-occupied            
Financing Receivable, Past Due [Line Items]            
Gross loans 1,324,208   1,232,071      
Less: Allowance for credit losses on loans HFI (11,567) (11,312) (10,653) (10,526) (8,467) (7,783)
Commercial real estate: | Non-owner occupied            
Financing Receivable, Past Due [Line Items]            
Gross loans 2,048,036   1,943,525      
Less: Allowance for credit losses on loans HFI (24,641) (24,543) (22,965) (22,747) (22,877) (21,916)
Consumer and other            
Financing Receivable, Past Due [Line Items]            
Gross loans 480,076   411,873      
Less: Allowance for credit losses on loans HFI $ (19,014) $ (17,962) $ (16,922) $ (15,698) $ (14,669) $ (13,454)
v3.24.3
Loans and Allowance for Credit Losses on Loans HFI - Narrative (Details)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
branch
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
branch
Dec. 31, 2023
USD ($)
Financing Receivable, Past Due [Line Items]          
Accrued interest receivable on loans $ 43,503   $ 43,503   $ 43,776
Accrued interest receivable written off as an adjustment to interest income on non-accrual loans 128 $ 322 536 $ 666  
Term extensions for borrowers 32 $ 0 32 $ 0  
Financial Difficulty Modification          
Financing Receivable, Past Due [Line Items]          
Commitment to lend additional amounts to troubled debt restructuring 300   300   0
Residential Mortgage Loans          
Financing Receivable, Past Due [Line Items]          
Number modified of mortgage loans | branch   1   3  
Term extensions for borrowers   $ 31   $ 165  
Commercial and Industrial Loan          
Financing Receivable, Past Due [Line Items]          
Number modified of mortgage loans | branch   1   1  
Term extensions for borrowers   $ 187   $ 187  
Commercial and Industrial Loan | Federal Reserve Bank          
Financing Receivable, Past Due [Line Items]          
Deposit liabilities, collateral issued, financial instruments 2,651,997   2,651,997   3,107,495
FHLB Cincinnati | Residential Mortgage Loans          
Financing Receivable, Past Due [Line Items]          
Collateral securing line of credit 925,200   925,200   1,030,016
FHLB Cincinnati | Commercial Loan          
Financing Receivable, Past Due [Line Items]          
Collateral securing line of credit $ 1,604,389   $ 1,604,389   $ 1,984,007
v3.24.3
Loans and Allowance for Credit Losses on Loans HFI - Schedule of Credit Quality of Loan Portfolio by Year of Origination (Details) - USD ($)
$ in Thousands
 9 Months Ended 12 Months Ended
Sep. 30, 2024
Dec. 31, 2023
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total $ 9,478,129 $ 9,408,783
Commercial and industrial    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 135,052 226,191
2023-2022 192,171 278,121
2022-2021 177,380 157,650
2021-2020 66,211 42,924
2020-2019 35,066 70,707
Prior 122,368 79,652
Revolving Loans Amortized Cost Basis 960,567 865,488
Total 1,688,815 1,720,733
Current and prior-period gross charge-offs, 2024-2023 0 14
Current and prior-period gross charge-offs, -2023-2022 12 7
Current and prior-period gross charge-offs, 2022-2021 2 201
Current and prior-period gross charge-offs, 2021-2020 70 22
Current and prior-period gross charge-offs, 2020-2019 16 0
Current and prior-period gross charge-offs, prior 7 87
Revolving Loans Amortized Cost Basis 52 131
Total 159 462
Commercial and industrial | Pass    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 132,257 225,734
2023-2022 189,261 255,921
2022-2021 154,303 151,492
2021-2020 61,545 39,897
2020-2019 32,166 70,302
Prior 115,917 73,415
Revolving Loans Amortized Cost Basis 908,150 839,918
Total 1,593,599 1,656,679
Commercial and industrial | Special Mention    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 2,795 0
2023-2022 2,851 17,947
2022-2021 2,609 3,083
2021-2020 73 0
2020-2019 0 151
Prior 195 108
Revolving Loans Amortized Cost Basis 26,260 7,549
Total 34,783 28,838
Commercial and industrial | Classified    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 0 457
2023-2022 59 4,253
2022-2021 20,468 3,075
2021-2020 4,593 3,027
2020-2019 2,900 254
Prior 6,256 6,129
Revolving Loans Amortized Cost Basis 26,157 18,021
Total 60,433 35,216
Construction    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 141,229 179,930
2023-2022 140,951 684,395
2022-2021 386,623 152,739
2021-2020 106,529 54,519
2020-2019 37,272 39,140
Prior 67,147 50,644
Revolving Loans Amortized Cost Basis 199,975 235,946
Total 1,079,726 1,397,313
Current and prior-period gross charge-offs, 2024-2023 0 0
Current and prior-period gross charge-offs, -2023-2022 0 0
Current and prior-period gross charge-offs, 2022-2021 0 0
Current and prior-period gross charge-offs, 2021-2020 0 0
Current and prior-period gross charge-offs, 2020-2019 0 0
Current and prior-period gross charge-offs, prior 0 0
Revolving Loans Amortized Cost Basis 92 0
Total 92 0
Construction | Pass    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 141,229 179,929
2023-2022 140,864 677,387
2022-2021 369,074 148,312
2021-2020 106,230 46,697
2020-2019 28,784 39,140
Prior 66,547 49,954
Revolving Loans Amortized Cost Basis 183,222 208,491
Total 1,035,950 1,349,910
Construction | Special Mention    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 0 1
2023-2022 87 4,659
2022-2021 12,321 2,943
2021-2020 26 1,202
2020-2019 0 0
Prior 600 690
Revolving Loans Amortized Cost Basis 0 12,000
Total 13,034 21,495
Construction | Classified    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 0 0
2023-2022 0 2,349
2022-2021 5,228 1,484
2021-2020 273 6,620
2020-2019 8,488 0
Prior 0 0
Revolving Loans Amortized Cost Basis 16,753 15,455
Total 30,742 25,908
Residential real estate: | Multi-family mortgage    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 29,685 29,982
2023-2022 5,879 151,495
2022-2021 241,414 223,889
2021-2020 234,327 92,745
2020-2019 52,376 29,933
Prior 71,262 44,551
Revolving Loans Amortized Cost Basis 19,245 31,209
Total 654,188 603,804
Current and prior-period gross charge-offs, 2024-2023 0 0
Current and prior-period gross charge-offs, -2023-2022 0 0
Current and prior-period gross charge-offs, 2022-2021 0 0
Current and prior-period gross charge-offs, 2021-2020 0 0
Current and prior-period gross charge-offs, 2020-2019 0 0
Current and prior-period gross charge-offs, prior 0 0
Revolving Loans Amortized Cost Basis 0 0
Total 0 0
Residential real estate: | Multi-family mortgage | Pass    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 29,685 29,982
2023-2022 5,879 151,495
2022-2021 241,414 223,889
2021-2020 224,347 92,745
2020-2019 52,376 29,933
Prior 70,251 43,479
Revolving Loans Amortized Cost Basis 19,245 31,209
Total 643,197 602,732
Residential real estate: | Multi-family mortgage | Special Mention    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 0 0
2023-2022 0 0
2022-2021 0 0
2021-2020 9,980 0
2020-2019 0 0
Prior 0 0
Revolving Loans Amortized Cost Basis 0 0
Total 9,980 0
Residential real estate: | Multi-family mortgage | Classified    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 0 0
2023-2022 0 0
2022-2021 0 0
2021-2020 0 0
2020-2019 0 0
Prior 1,011 1,072
Revolving Loans Amortized Cost Basis 0 0
Total 1,011 1,072
Residential real estate: | 1-to-4 family mortgage    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 172,027 198,613
2023-2022 171,877 503,193
2022-2021 471,682 403,364
2021-2020 378,065 149,330
2020-2019 139,960 82,595
Prior 278,420 231,457
Revolving Loans Amortized Cost Basis 0 0
Total 1,612,031 1,568,552
Current and prior-period gross charge-offs, 2024-2023 0 0
Current and prior-period gross charge-offs, -2023-2022 0 18
Current and prior-period gross charge-offs, 2022-2021 150 0
Current and prior-period gross charge-offs, 2021-2020 130 4
Current and prior-period gross charge-offs, 2020-2019 0 0
Current and prior-period gross charge-offs, prior 15 24
Revolving Loans Amortized Cost Basis 0 0
Total 295 46
Residential real estate: | 1-to-4 family mortgage | Performing    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 171,947 198,537
2023-2022 171,313 500,628
2022-2021 465,317 399,338
2021-2020 371,494 145,484
2020-2019 136,834 81,905
Prior 271,278 226,587
Revolving Loans Amortized Cost Basis 0 0
Total 1,588,183 1,552,479
Residential real estate: | 1-to-4 family mortgage | Nonperforming    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 80 76
2023-2022 564 2,565
2022-2021 6,365 4,026
2021-2020 6,571 3,846
2020-2019 3,126 690
Prior 7,142 4,870
Revolving Loans Amortized Cost Basis 0 0
Total 23,848 16,073
Residential real estate: | Residential line of credit    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 0 0
2023-2022 0 0
2022-2021 0 0
2021-2020 0 0
2020-2019 0 0
Prior 0 0
Revolving Loans Amortized Cost Basis 591,049 530,912
Total 591,049 530,912
Current and prior-period gross charge-offs, 2024-2023 0 0
Current and prior-period gross charge-offs, -2023-2022 0 0
Current and prior-period gross charge-offs, 2022-2021 0 0
Current and prior-period gross charge-offs, 2021-2020 0 0
Current and prior-period gross charge-offs, 2020-2019 0 0
Current and prior-period gross charge-offs, prior 73 0
Revolving Loans Amortized Cost Basis 0 0
Total 73 0
Residential real estate: | Residential line of credit | Performing    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 0 0
2023-2022 0 0
2022-2021 0 0
2021-2020 0 0
2020-2019 0 0
Prior 0 0
Revolving Loans Amortized Cost Basis 589,491 528,439
Total 589,491 528,439
Residential real estate: | Residential line of credit | Nonperforming    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 0 0
2023-2022 0 0
2022-2021 0 0
2021-2020 0 0
2020-2019 0 0
Prior 0 0
Revolving Loans Amortized Cost Basis 1,558 2,473
Total 1,558 2,473
Commercial real estate: | Owner-occupied    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 133,073 118,030
2023-2022 112,041 268,798
2022-2021 254,918 233,084
2021-2020 221,182 115,397
2020-2019 109,000 152,060
Prior 405,758 289,659
Revolving Loans Amortized Cost Basis 88,236 55,043
Total 1,324,208 1,232,071
Current and prior-period gross charge-offs, 2024-2023 0 0
Current and prior-period gross charge-offs, -2023-2022 0 0
Current and prior-period gross charge-offs, 2022-2021 0 144
Current and prior-period gross charge-offs, 2021-2020 0 0
Current and prior-period gross charge-offs, 2020-2019 0 0
Current and prior-period gross charge-offs, prior 0 0
Revolving Loans Amortized Cost Basis 0 0
Total 0 144
Commercial real estate: | Owner-occupied | Pass    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 133,073 118,030
2023-2022 112,041 261,196
2022-2021 247,259 231,241
2021-2020 218,567 115,397
2020-2019 108,938 151,146
Prior 392,401 281,253
Revolving Loans Amortized Cost Basis 87,183 53,970
Total 1,299,462 1,212,233
Commercial real estate: | Owner-occupied | Special Mention    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 0 0
2023-2022 0 1,297
2022-2021 1,385 1,827
2021-2020 2,600 0
2020-2019 0 154
Prior 7,932 2,617
Revolving Loans Amortized Cost Basis 0 0
Total 11,917 5,895
Commercial real estate: | Owner-occupied | Classified    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 0 0
2023-2022 0 6,305
2022-2021 6,274 16
2021-2020 15 0
2020-2019 62 760
Prior 5,425 5,789
Revolving Loans Amortized Cost Basis 1,053 1,073
Total 12,829 13,943
Commercial real estate: | Non-owner occupied    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 100,902 47,026
2023-2022 43,211 474,560
2022-2021 540,476 483,854
2021-2020 464,917 117,429
2020-2019 114,485 178,829
Prior 736,125 598,250
Revolving Loans Amortized Cost Basis 47,920 43,577
Total 2,048,036 1,943,525
Current and prior-period gross charge-offs, 2024-2023 0 0
Current and prior-period gross charge-offs, -2023-2022 0 0
Current and prior-period gross charge-offs, 2022-2021 0 0
Current and prior-period gross charge-offs, 2021-2020 0 0
Current and prior-period gross charge-offs, 2020-2019 0 0
Current and prior-period gross charge-offs, prior 0 0
Revolving Loans Amortized Cost Basis 0 0
Total 0 0
Commercial real estate: | Non-owner occupied | Pass    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 100,902 47,026
2023-2022 43,211 474,560
2022-2021 535,152 478,878
2021-2020 460,381 117,429
2020-2019 113,393 178,448
Prior 708,997 580,168
Revolving Loans Amortized Cost Basis 47,920 43,577
Total 2,009,956 1,920,086
Commercial real estate: | Non-owner occupied | Special Mention    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 0 0
2023-2022 0 0
2022-2021 5,324 3,975
2021-2020 4,536 0
2020-2019 1,092 0
Prior 19,406 10,435
Revolving Loans Amortized Cost Basis 0 0
Total 30,358 14,410
Commercial real estate: | Non-owner occupied | Classified    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 0 0
2023-2022 0 0
2022-2021 0 1,001
2021-2020 0 0
2020-2019 0 381
Prior 7,722 7,647
Revolving Loans Amortized Cost Basis 0 0
Total 7,722 9,029
Consumer and other    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 113,294 104,927
2023-2022 99,628 92,582
2022-2021 81,346 47,749
2021-2020 41,140 36,747
2020-2019 33,042 25,304
Prior 110,991 97,674
Revolving Loans Amortized Cost Basis 635 6,890
Total 480,076 411,873
Current and prior-period gross charge-offs, 2024-2023 956 1,463
Current and prior-period gross charge-offs, -2023-2022 446 564
Current and prior-period gross charge-offs, 2022-2021 201 139
Current and prior-period gross charge-offs, 2021-2020 233 201
Current and prior-period gross charge-offs, 2020-2019 56 110
Current and prior-period gross charge-offs, prior 244 372
Revolving Loans Amortized Cost Basis 0 2
Total 2,136 2,851
Consumer and other | Performing    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 112,563 104,399
2023-2022 97,908 91,557
2022-2021 79,587 45,187
2021-2020 38,215 34,928
2020-2019 30,704 24,040
Prior 105,231 93,833
Revolving Loans Amortized Cost Basis 634 6,890
Total 464,842 400,834
Consumer and other | Nonperforming    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 731 528
2023-2022 1,720 1,025
2022-2021 1,759 2,562
2021-2020 2,925 1,819
2020-2019 2,338 1,264
Prior 5,760 3,841
Revolving Loans Amortized Cost Basis 1 0
Total 15,234 11,039
Total consumer type loans    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 285,321 303,540
2023-2022 271,505 595,775
2022-2021 553,028 451,113
2021-2020 419,205 186,077
2020-2019 173,002 107,899
Prior 389,411 329,131
Revolving Loans Amortized Cost Basis 591,684 537,802
Total 2,683,156 2,511,337
Current and prior-period gross charge-offs, 2024-2023 956 1,463
Current and prior-period gross charge-offs, -2023-2022 446 582
Current and prior-period gross charge-offs, 2022-2021 351 139
Current and prior-period gross charge-offs, 2021-2020 363 205
Current and prior-period gross charge-offs, 2020-2019 56 110
Current and prior-period gross charge-offs, prior 332 396
Revolving Loans Amortized Cost Basis 0 2
Total 2,504 2,897
Total consumer type loans | Performing    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 284,510 302,936
2023-2022 269,221 592,185
2022-2021 544,904 444,525
2021-2020 409,709 180,412
2020-2019 167,538 105,945
Prior 376,509 320,420
Revolving Loans Amortized Cost Basis 590,125 535,329
Total 2,642,516 2,481,752
Total consumer type loans | Nonperforming    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 811 604
2023-2022 2,284 3,590
2022-2021 8,124 6,588
2021-2020 9,496 5,665
2020-2019 5,464 1,954
Prior 12,902 8,711
Revolving Loans Amortized Cost Basis 1,559 2,473
Total 40,640 29,585
Total Commercial Loans    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 539,941 601,159
2023-2022 494,253 1,857,369
2022-2021 1,600,811 1,251,216
2021-2020 1,093,166 423,014
2020-2019 348,199 470,669
Prior 1,402,660 1,062,756
Revolving Loans Amortized Cost Basis 1,315,943 1,231,263
Total 6,794,973 6,897,446
Current and prior-period gross charge-offs, 2024-2023 0 14
Current and prior-period gross charge-offs, -2023-2022 12 7
Current and prior-period gross charge-offs, 2022-2021 2 345
Current and prior-period gross charge-offs, 2021-2020 70 22
Current and prior-period gross charge-offs, 2020-2019 16 0
Current and prior-period gross charge-offs, prior 7 87
Revolving Loans Amortized Cost Basis 144 131
Total 251 606
Total Commercial Loans | Pass    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 537,146 600,701
2023-2022 491,256 1,820,559
2022-2021 1,547,202 1,233,812
2021-2020 1,071,070 412,165
2020-2019 335,657 468,969
Prior 1,354,113 1,028,269
Revolving Loans Amortized Cost Basis 1,245,720 1,177,165
Total 6,582,164 6,741,640
Total Commercial Loans | Special Mention    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 2,795 1
2023-2022 2,938 23,903
2022-2021 21,639 11,828
2021-2020 17,215 1,202
2020-2019 1,092 305
Prior 28,133 13,850
Revolving Loans Amortized Cost Basis 26,260 19,549
Total 100,072 70,638
Total Commercial Loans | Classified    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 0 457
2023-2022 59 12,907
2022-2021 31,970 5,576
2021-2020 4,881 9,647
2020-2019 11,450 1,395
Prior 20,414 20,637
Revolving Loans Amortized Cost Basis 43,963 34,549
Total $ 112,737 $ 85,168
v3.24.3
Loans and Allowance for Credit Losses on Loans HFI - Schedule of Analysis of Aging by Class of Financing Receivable (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Financing Receivable, Past Due [Line Items]    
Loans held for investment $ 9,478,129 $ 9,408,783
90 days or  more and accruing interest 26,250 12,693
Nonaccrual loans 64,585 48,230
30-89 days past due and accruing interest    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 40,461 47,043
Loans current on payments and accruing interest    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 9,346,833 9,300,817
Commercial and industrial    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 1,688,815 1,720,733
90 days or  more and accruing interest 600 0
Nonaccrual loans 22,458 21,730
Commercial and industrial | 30-89 days past due and accruing interest    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 760 732
Commercial and industrial | Loans current on payments and accruing interest    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 1,664,997 1,698,271
Construction    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 1,079,726 1,397,313
90 days or  more and accruing interest 365 165
Nonaccrual loans 11,181 2,872
Construction | 30-89 days past due and accruing interest    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 2,734 6,579
Construction | Loans current on payments and accruing interest    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 1,065,446 1,387,697
Residential real estate: | 1-to-4 family mortgage    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 1,612,031 1,568,552
90 days or  more and accruing interest 15,249 9,355
Nonaccrual loans 8,599 6,718
Residential real estate: | 1-to-4 family mortgage | 30-89 days past due and accruing interest    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 21,644 21,768
Residential real estate: | 1-to-4 family mortgage | Loans current on payments and accruing interest    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 1,566,539 1,530,711
Residential real estate: | Residential line of credit    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 591,049 530,912
90 days or  more and accruing interest 1,331 1,337
Nonaccrual loans 227 1,136
Residential real estate: | Residential line of credit | 30-89 days past due and accruing interest    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 2,061 2,464
Residential real estate: | Residential line of credit | Loans current on payments and accruing interest    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 587,430 525,975
Residential real estate: | Multi-family mortgage    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 654,188 603,804
90 days or  more and accruing interest 0 0
Nonaccrual loans 25 32
Residential real estate: | Multi-family mortgage | 30-89 days past due and accruing interest    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 0 0
Residential real estate: | Multi-family mortgage | Loans current on payments and accruing interest    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 654,163 603,772
Commercial real estate: | Owner-occupied    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 1,324,208 1,232,071
90 days or  more and accruing interest 95 0
Nonaccrual loans 8,904 3,188
Commercial real estate: | Owner-occupied | 30-89 days past due and accruing interest    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 236 480
Commercial real estate: | Owner-occupied | Loans current on payments and accruing interest    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 1,314,973 1,228,403
Commercial real estate: | Non-owner occupied    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 2,048,036 1,943,525
90 days or  more and accruing interest 3,512 0
Nonaccrual loans 3,055 3,351
Commercial real estate: | Non-owner occupied | 30-89 days past due and accruing interest    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 65 4,059
Commercial real estate: | Non-owner occupied | Loans current on payments and accruing interest    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 2,041,404 1,936,115
Consumer and other    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 480,076 411,873
90 days or  more and accruing interest 5,098 1,836
Nonaccrual loans 10,136 9,203
Consumer and other | 30-89 days past due and accruing interest    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 12,961 10,961
Consumer and other | Loans current on payments and accruing interest    
Financing Receivable, Past Due [Line Items]    
Loans held for investment $ 451,881 $ 389,873
v3.24.3
Loans and Allowance for Credit Losses on Loans HFI - Schedule of Amortized Cost, Related Allowance and Interest Income of Non-accrual Loans (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Financing Receivable, Past Due [Line Items]          
Nonaccrual with no related allowance $ 19,256   $ 19,256   $ 14,310
Nonaccrual with related allowance 45,329   45,329   33,920
Related allowance 11,973   11,973   5,696
Year to date Interest Income 361 $ 578 1,357 $ 1,429  
Commercial and industrial          
Financing Receivable, Past Due [Line Items]          
Nonaccrual with no related allowance 8,535   8,535   3,678
Nonaccrual with related allowance 13,923   13,923   18,052
Related allowance 9,906   9,906   5,011
Year to date Interest Income 46 302 615 350  
Construction          
Financing Receivable, Past Due [Line Items]          
Nonaccrual with no related allowance 0   0   2,267
Nonaccrual with related allowance 11,181   11,181   605
Related allowance 1,284   1,284   59
Year to date Interest Income 308 0 448 52  
Residential real estate: | 1-to-4 family mortgage          
Financing Receivable, Past Due [Line Items]          
Nonaccrual with no related allowance 1,561   1,561   1,444
Nonaccrual with related allowance 7,038   7,038   5,274
Related allowance 140   140   103
Year to date Interest Income 6 83 40 232  
Residential real estate: | Residential line of credit          
Financing Receivable, Past Due [Line Items]          
Nonaccrual with no related allowance 147   147   685
Nonaccrual with related allowance 80   80   451
Related allowance 1   1   8
Year to date Interest Income 1 34 40 85  
Residential real estate: | Multi-family mortgage          
Financing Receivable, Past Due [Line Items]          
Nonaccrual with no related allowance 0   0   0
Nonaccrual with related allowance 25   25   32
Related allowance 1   1   1
Year to date Interest Income 0 1 1 2  
Commercial real estate: | Owner-occupied          
Financing Receivable, Past Due [Line Items]          
Nonaccrual with no related allowance 6,415   6,415   2,920
Nonaccrual with related allowance 2,489   2,489   268
Related allowance 109   109   15
Year to date Interest Income 0 0 124 97  
Commercial real estate: | Non-owner occupied          
Financing Receivable, Past Due [Line Items]          
Nonaccrual with no related allowance 2,598   2,598   3,316
Nonaccrual with related allowance 457   457   35
Related allowance 6   6   1
Year to date Interest Income 0 58 89 195  
Consumer and other          
Financing Receivable, Past Due [Line Items]          
Nonaccrual with no related allowance 0   0   0
Nonaccrual with related allowance 10,136   10,136   9,203
Related allowance 526   526   $ 498
Year to date Interest Income $ 0 $ 100 $ 0 $ 416  
v3.24.3
Loans and Allowance for Credit Losses on Loans HFI - Modifications of Outstanding Balance (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2024
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 8,751 $ 23,081
% of total class of financing receivables 0.10% 0.20%
Term extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 0 $ 38
Payment deferral and term extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 7,038 21,233
Interest rate reduction and term extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 0 97
Payment deferral, interest rate reduction, and term extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 1,713 1,713
Commercial and industrial    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 7,038 $ 7,038
% of total class of financing receivables 0.40% 0.40%
Commercial and industrial | Term extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 0 $ 0
Commercial and industrial | Payment deferral and term extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 7,038 7,038
Commercial and industrial | Interest rate reduction and term extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 0 0
Commercial and industrial | Payment deferral, interest rate reduction, and term extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 0 0
Construction    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 1,713 $ 15,908
% of total class of financing receivables 0.20% 1.50%
Construction | Term extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 0 $ 0
Construction | Payment deferral and term extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 0 14,195
Construction | Interest rate reduction and term extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total 0 0
Construction | Payment deferral, interest rate reduction, and term extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total $ 1,713 1,713
Consumer and other    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total   $ 135
% of total class of financing receivables   0.00%
Consumer and other | Term extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total   $ 38
Consumer and other | Payment deferral and term extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total   0
Consumer and other | Interest rate reduction and term extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total   97
Consumer and other | Payment deferral, interest rate reduction, and term extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Total   $ 0
v3.24.3
Loans and Allowance for Credit Losses on Loans HFI - Financial Effects of Loan Modifications (Details)
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2024
Commercial and industrial | Term extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Weighted average of loans (in years) 12 months 12 months
Commercial and industrial | Payment deferral    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Weighted average of loans (in years) 12 months 12 months
Weighted average interest rate reduction 0.00% 0.00%
Construction | Term extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Weighted average of loans (in years) 360 months 44 months
Construction | Payment deferral    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Weighted average of loans (in years) 5 months 3 months
Weighted average interest rate reduction 0.10% 0.10%
Consumer and other    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Weighted average interest rate reduction   1.49%
Consumer and other | Term extension    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Weighted average of loans (in years)   25 months
Consumer and other | Payment deferral    
Financing Receivable, Troubled Debt Restructuring [Line Items]    
Weighted average of loans (in years)   0 months
v3.24.3
Loans and Allowance for Credit Losses on Loans HFI - Payment Status Recorded Investment (Details)
$ in Thousands
Sep. 30, 2024
USD ($)
Financing Receivable, Past Due [Line Items]  
Loans held for investment, modified $ 23,104
Nonaccrual loans 8,773
30-89 days past due and accruing interest  
Financing Receivable, Past Due [Line Items]  
Loans held for investment, modified 32
90 days or  more and accruing interest  
Financing Receivable, Past Due [Line Items]  
Loans held for investment, modified 0
Loans current on payments and accruing interest  
Financing Receivable, Past Due [Line Items]  
Loans held for investment, modified 14,299
Commercial and industrial  
Financing Receivable, Past Due [Line Items]  
Loans held for investment, modified 7,038
Nonaccrual loans 7,038
Commercial and industrial | 30-89 days past due and accruing interest  
Financing Receivable, Past Due [Line Items]  
Loans held for investment, modified 0
Commercial and industrial | 90 days or  more and accruing interest  
Financing Receivable, Past Due [Line Items]  
Loans held for investment, modified 0
Commercial and industrial | Loans current on payments and accruing interest  
Financing Receivable, Past Due [Line Items]  
Loans held for investment, modified 0
Construction  
Financing Receivable, Past Due [Line Items]  
Loans held for investment, modified 15,908
Nonaccrual loans 1,713
Construction | 30-89 days past due and accruing interest  
Financing Receivable, Past Due [Line Items]  
Loans held for investment, modified 0
Construction | 90 days or  more and accruing interest  
Financing Receivable, Past Due [Line Items]  
Loans held for investment, modified 0
Construction | Loans current on payments and accruing interest  
Financing Receivable, Past Due [Line Items]  
Loans held for investment, modified 14,195
Residential real estate: | 1-to-4 family mortgage  
Financing Receivable, Past Due [Line Items]  
Loans held for investment, modified 22
Nonaccrual loans 22
Residential real estate: | 30-89 days past due and accruing interest | 1-to-4 family mortgage  
Financing Receivable, Past Due [Line Items]  
Loans held for investment, modified 0
Residential real estate: | 90 days or  more and accruing interest | 1-to-4 family mortgage  
Financing Receivable, Past Due [Line Items]  
Loans held for investment, modified 0
Residential real estate: | Loans current on payments and accruing interest | 1-to-4 family mortgage  
Financing Receivable, Past Due [Line Items]  
Loans held for investment, modified 0
Consumer and other  
Financing Receivable, Past Due [Line Items]  
Loans held for investment, modified 136
Nonaccrual loans 0
Consumer and other | 30-89 days past due and accruing interest  
Financing Receivable, Past Due [Line Items]  
Loans held for investment, modified 32
Consumer and other | 90 days or  more and accruing interest  
Financing Receivable, Past Due [Line Items]  
Loans held for investment, modified 0
Consumer and other | Loans current on payments and accruing interest  
Financing Receivable, Past Due [Line Items]  
Loans held for investment, modified $ 104
v3.24.3
Loans and Allowance for Credit Losses on Loans HFI - Schedule of Individually Assessed Allowance for Credit Losses for Collateral Dependent Loans (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Jun. 30, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral $ 156,260 $ 155,055 $ 150,326 $ 146,134 $ 140,664 $ 134,192
Commercial and industrial            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 24,133 22,530 19,599 17,562 11,311 11,106
Construction            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 30,558 34,170 35,372 37,895 39,920 39,808
Residential real estate: | 1-to-4 family mortgage            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 25,979 25,631 26,505 25,695 27,407 26,141
Residential real estate: | Residential line of credit            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 10,724 10,097 9,468 9,163 9,185 7,494
Commercial real estate: | Owner-occupied            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 11,567 11,312 10,653 10,526 8,467 7,783
Commercial real estate: | Non-owner occupied            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 24,641 24,543 22,965 22,747 22,877 21,916
Consumer and other            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 19,014 $ 17,962 16,922 $ 15,698 $ 14,669 $ 13,454
Real Estate            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 31,034   20,189      
Real Estate | Commercial and industrial            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 0   0      
Real Estate | Construction            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 22,060   8,224      
Real Estate | Residential real estate: | 1-to-4 family mortgage            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 1,562   5,317      
Real Estate | Residential real estate: | Residential line of credit            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 148   1,245      
Real Estate | Commercial real estate: | Owner-occupied            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 0   1,975      
Real Estate | Commercial real estate: | Non-owner occupied            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 7,264   3,316      
Real Estate | Consumer and other            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral     112      
Farmland            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 8,068   1,523      
Farmland | Commercial and industrial            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 0   363      
Farmland | Construction            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 1,653   0      
Farmland | Residential real estate: | 1-to-4 family mortgage            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 0   0      
Farmland | Residential real estate: | Residential line of credit            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 0   0      
Farmland | Commercial real estate: | Owner-occupied            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 6,415   1,160      
Farmland | Commercial real estate: | Non-owner occupied            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 0   0      
Farmland | Consumer and other            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral     0      
Business Assets            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 21,061   20,599      
Business Assets | Commercial and industrial            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 21,061   20,599      
Business Assets | Construction            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 0   0      
Business Assets | Residential real estate: | 1-to-4 family mortgage            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 0   0      
Business Assets | Residential real estate: | Residential line of credit            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 0   0      
Business Assets | Commercial real estate: | Owner-occupied            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 0   0      
Business Assets | Commercial real estate: | Non-owner occupied            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 0   0      
Business Assets | Consumer and other            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral     0      
Total            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 60,163   42,311      
Individually assessed allowance for credit loss 10,629   5,136      
Total | Commercial and industrial            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 21,061   20,962      
Individually assessed allowance for credit loss 9,722   4,946      
Total | Construction            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 23,713   8,224      
Individually assessed allowance for credit loss 907   30      
Total | Residential real estate: | 1-to-4 family mortgage            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 1,562   5,317      
Individually assessed allowance for credit loss 0   129      
Total | Residential real estate: | Residential line of credit            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 148   1,245      
Individually assessed allowance for credit loss 0   10      
Total | Commercial real estate: | Owner-occupied            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 6,415   3,135      
Individually assessed allowance for credit loss 0   0      
Total | Commercial real estate: | Non-owner occupied            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral 7,264   3,316      
Individually assessed allowance for credit loss $ 0   0      
Total | Consumer and other            
Financing Receivable, Allowance for Credit Loss [Line Items]            
Type of Collateral     112      
Individually assessed allowance for credit loss     $ 21      
v3.24.3
Loans and Allowance for Credit Losses on Loans HFI - Schedule of Changes in Allowance for Credit Losses on Loans HFI by Class of Financing Receivable (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Allowance for Loan and Lease Losses [Roll Forward]        
Balance at beginning of period $ 155,055 $ 140,664 $ 150,326 $ 134,192
Provision for (reversal of) credit losses on loans HFI 1,856 6,031 7,648 13,603
Recoveries of loans previously charged-off 264 235 1,041 794
Loans charged off (915) (796) (2,755) (2,455)
Balance at end of period 156,260 146,134 156,260 146,134
Commercial and industrial        
Allowance for Loan and Lease Losses [Roll Forward]        
Balance at beginning of period 22,530 11,311 19,599 11,106
Provision for (reversal of) credit losses on loans HFI 1,670 6,293 4,636 6,475
Recoveries of loans previously charged-off 23 112 57 192
Loans charged off (90) (154) (159) (211)
Balance at end of period 24,133 17,562 24,133 17,562
Construction        
Allowance for Loan and Lease Losses [Roll Forward]        
Balance at beginning of period 34,170 39,920 35,372 39,808
Provision for (reversal of) credit losses on loans HFI (3,612) (2,025) (4,722) (1,923)
Recoveries of loans previously charged-off 0 0 0 10
Loans charged off 0 0 (92) 0
Balance at end of period 30,558 37,895 30,558 37,895
Residential real estate: | 1-to-4 family mortgage        
Allowance for Loan and Lease Losses [Roll Forward]        
Balance at beginning of period 25,631 27,407 26,505 26,141
Provision for (reversal of) credit losses on loans HFI 341 (1,724) (306) (466)
Recoveries of loans previously charged-off 9 16 75 56
Loans charged off (2) (4) (295) (36)
Balance at end of period 25,979 25,695 25,979 25,695
Residential real estate: | Residential line of credit        
Allowance for Loan and Lease Losses [Roll Forward]        
Balance at beginning of period 10,097 9,185 9,468 7,494
Provision for (reversal of) credit losses on loans HFI 662 (23) 1,311 1,668
Recoveries of loans previously charged-off 18 1 18 1
Loans charged off (53) 0 (73) 0
Balance at end of period 10,724 9,163 10,724 9,163
Residential real estate: | Multi-family mortgage        
Allowance for Loan and Lease Losses [Roll Forward]        
Balance at beginning of period 8,810 6,828 8,842 6,490
Provision for (reversal of) credit losses on loans HFI 834 20 802 358
Recoveries of loans previously charged-off 0 0 0 0
Loans charged off 0 0 0 0
Balance at end of period 9,644 6,848 9,644 6,848
Commercial real estate: | Owner-occupied        
Allowance for Loan and Lease Losses [Roll Forward]        
Balance at beginning of period 11,312 8,467 10,653 7,783
Provision for (reversal of) credit losses on loans HFI 243 2,046 674 2,792
Recoveries of loans previously charged-off 12 13 240 95
Loans charged off 0 0 0 (144)
Balance at end of period 11,567 10,526 11,567 10,526
Commercial real estate: | Non-owner occupied        
Allowance for Loan and Lease Losses [Roll Forward]        
Balance at beginning of period 24,543 22,877 22,965 21,916
Provision for (reversal of) credit losses on loans HFI 98 (130) 1,676 831
Recoveries of loans previously charged-off 0 0 0 0
Loans charged off 0 0 0 0
Balance at end of period 24,641 22,747 24,641 22,747
Consumer and other        
Allowance for Loan and Lease Losses [Roll Forward]        
Balance at beginning of period 17,962 14,669 16,922 13,454
Provision for (reversal of) credit losses on loans HFI 1,620 1,574 3,577 3,868
Recoveries of loans previously charged-off 202 93 651 440
Loans charged off (770) (638) (2,136) (2,064)
Balance at end of period $ 19,014 $ 15,698 $ 19,014 $ 15,698
v3.24.3
Other Real Estate Owned - Schedule of Other Real Estate Owned (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Other Real Estate [Roll Forward]        
Balance at beginning of period $ 4,173 $ 1,974 $ 3,192 $ 5,794
Transfers from loans 0 64 2,400 657
Transfers to other assets 0 (75) 0 (75)
Proceeds from sale of other real estate owned (412) (537) (1,846) (5,692)
Gain on sale of other real estate owned 18 93 33 835
Write-downs and partial liquidations 0 (15) 0 (15)
Balance at end of period $ 3,779 $ 1,504 $ 3,779 $ 1,504
v3.24.3
Other Real Estate Owned - Narrative (Details) - Residential Real Estate Properties - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Real Estate Properties [Line Items]    
Foreclosed residential real estate properties $ 2,651 $ 2,414
Total foreclosure proceedings in process $ 6,203 $ 3,377
v3.24.3
Leases - Narrative (Details)
 9 Months Ended
Sep. 30, 2024
lease
Lessee, Lease, Description [Line Items]  
Lessee, number of operating leases 46
Lessee, number of finance leases 1
Minimum  
Lessee, Lease, Description [Line Items]  
Lessee, operating and finance lease, renewal term 20 years
v3.24.3
Leases - Schedule of Information Related to Company's Leases (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Leases [Abstract]    
Operating leases $ 47,346 $ 54,295
Finance leases 1,173 1,256
Total right-of-use assets 48,519 55,551
Operating leases 59,584 67,643
Finance leases 1,254 1,326
Total lease liabilities $ 60,838 $ 68,969
Weighted average remaining lease term (in years) - operating 11 years 1 month 6 days 11 years 7 months 6 days
Weighted average remaining lease term (in years) - finance 10 years 7 months 6 days 11 years 4 months 24 days
Weighted average discount rate - operating 3.41% 3.39%
Weighted average discount rate - finance 1.76% 1.76%
Right-of-use asset - finance [Extensible Enumeration] Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization
Lease liabilities - finance [Extensible Enumeration] Borrowings Borrowings
v3.24.3
Leases - Schedule of Lease Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Leases [Abstract]        
Amortization of right-of-use asset $ 1,362 $ 2,104 $ 5,048 $ 6,226
Short-term lease cost 96 133 282 397
Variable lease cost 321 238 1,024 862
Gain on lease modifications and terminations 0 0 0 (73)
Interest on lease liabilities 6 6 17 18
Amortization of right-of-use asset 28 28 83 83
Sublease income (96) (254) (407) (750)
Total lease cost $ 1,717 $ 2,255 $ 6,047 $ 6,763
v3.24.3
Leases - Schedule of Maturity Analysis of Operating and Finance Lease Liabilities (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Operating Leases    
September 30, 2025 $ 2,154  
September 30, 2026 8,290  
September 30, 2027 8,016  
September 30, 2028 7,554  
September 30, 2029 6,579  
Thereafter 40,285  
Total undiscounted future minimum lease payments 72,878  
Less: imputed interest (13,294)  
Operating leases 59,584 $ 67,643
Finance Lease    
September 30, 2025 30  
September 30, 2026 121  
September 30, 2027 123  
September 30, 2028 125  
September 30, 2029 127  
Thereafter 850  
Total undiscounted future minimum lease payments 1,376  
Less: imputed interest (122)  
Finance leases $ 1,254 $ 1,326
v3.24.3
Mortgage Servicing Rights - Schedule of Changes in Mortgage Servicing Rights (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Servicing Asset at Fair Value, Amount [Roll Forward]        
Carrying value at beginning of period $ 164,505 $ 166,433 $ 164,249 $ 168,365
Capitalization 1,418 2,073 4,067 6,134
Change in fair value:        
Due to payoffs/paydowns (3,518) (3,306) (10,067) (9,095)
Due to change in valuation inputs or assumptions (5,308) 7,510 (1,152) 7,306
Carrying value at end of period $ 157,097 $ 172,710 $ 157,097 $ 172,710
v3.24.3
Mortgage Servicing Rights - Schedule of Servicing Income and Expense Included in Mortgage Banking Income (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Transfers and Servicing of Financial Assets [Abstract]        
Servicing income $ 7,244 $ 7,363 $ 21,907 $ 22,717
Contractually Specified Servicing Fee Income, Statement of Income or Comprehensive Income [Extensible Enumeration] Mortgage banking income, service charges on deposit accounts, investment services and trust income, ATM and interchange fees, Other expense Mortgage banking income, service charges on deposit accounts, investment services and trust income, ATM and interchange fees, Other expense Mortgage banking income, service charges on deposit accounts, investment services and trust income, ATM and interchange fees, Other expense Mortgage banking income, service charges on deposit accounts, investment services and trust income, ATM and interchange fees, Other expense
Change in fair value of mortgage servicing rights $ (8,826) $ 4,204 $ (11,219) $ (1,789)
Change in fair value of derivative hedging instruments 4,336 (7,928) (648) (9,564)
Servicing income 2,754 3,639 10,040 11,364
Servicing expenses 1,732 1,953 5,612 6,167
Net servicing income (loss) $ 1,022 $ 1,686 $ 4,428 $ 5,197
v3.24.3
Mortgage Servicing Rights - Schedule of Data and Key Economic Assumptions Related to Mortgage Servicing Rights (Details) - USD ($)
$ in Thousands
 9 Months Ended 12 Months Ended
Sep. 30, 2024
Dec. 31, 2023
Transfers and Servicing of Financial Assets [Abstract]    
Unpaid principal balance of mortgage loans sold and serviced for others $ 10,402,118 $ 10,762,906
Weighted-average prepayment speed (CPR) 6.81% 6.19%
Estimated impact on fair value of a 10% increase $ (4,563) $ (4,616)
Estimated impact on fair value of a 20% increase $ (8,819) $ (8,924)
Discount rate 9.48% 9.62%
Estimated impact on fair value of a 100 bp increase $ (7,286) $ (7,637)
Estimated impact on fair value of a 200 bp increase $ (13,960) $ (14,624)
Weighted-average coupon interest rate 3.57% 3.47%
Weighted-average servicing fee (basis points) 0.27% 0.27%
Weighted-average remaining maturity (in months) 336 months 334 months
v3.24.3
Mortgage Servicing Rights - Narrative (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Transfers and Servicing of Financial Assets [Abstract]    
Mortgage escrow deposit $ 126,854 $ 63,591
v3.24.3
Income Taxes - Schedule of Reconciliation of Income Taxes (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income Tax Disclosure [Abstract]        
Federal taxes calculated at statutory rate $ 2,392 $ 4,862 $ 20,275 $ 24,018
(Decrease) increase resulting from:        
State taxes, net of federal benefit (986) (469) (776) 429
(Benefit) expense from equity based compensation (1) (11) 75 173
Municipal interest income, net of interest disallowance (313) (448) (1,014) (1,355)
Bank-owned life insurance (81) (84) (692) (290)
Section 162(m) limitation 43 57 247 287
Other 120 68 278 245
Income tax expense, as reported $ 1,174 $ 3,975 $ 18,393 $ 23,507
Federal taxes calculated at statutory rate, percent 21.00% 21.00% 21.00% 21.00%
Percentage increase (decrease) resulting from:        
State taxes, net of federal benefit (8.70%) (2.00%) (0.80%) 0.40%
(Benefit) expense from equity based compensation 0.00% 0.00% 0.10% 0.20%
Municipal interest income, net of interest disallowance (2.70%) (1.90%) (1.10%) (1.20%)
Bank-owned life insurance (0.70%) (0.40%) (0.70%) (0.30%)
Section 162(m) limitation 0.40% 0.20% 0.30% 0.30%
Other 1.00% 0.30% 0.30% 0.20%
Total 10.30% 17.20% 19.10% 20.60%
v3.24.3
Commitments and Contingencies - Schedule of Financial Instruments with Off-Balance Sheet Credit Risk (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]    
Balance at end of period $ 2,795,644 $ 2,983,071
Commitments to extend credit, excluding interest rate lock commitments    
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]    
Balance at end of period 2,713,360 2,906,016
Letters of credit    
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]    
Balance at end of period $ 82,284 $ 77,055
v3.24.3
Commitments and Contingencies - Narrative (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
Commitments and Contingencies Disclosure [Abstract]          
Floating interest rate loan commitments     $ 2,551,217   $ 2,459,669
Total principal amount of loans repurchased or indemnified $ 1,382 $ 1,631 $ 4,893 $ 6,328  
v3.24.3
Commitments and Contingencies - Schedule of Allowance of Credit Losses on Unfunded Commitments (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Commitments and Contingencies [Roll Forward]        
Balance at beginning of period $ 155,055 $ 140,664 $ 150,326 $ 134,192
Balance at end of period 156,260 146,134 156,260 146,134
Unfunded Commitments        
Commitments and Contingencies [Roll Forward]        
Balance at beginning of period 5,984 14,810 8,770 22,969
Provision for (reversal of) credit losses on unfunded commitments 58 (3,210) (2,728) (11,369)
Balance at end of period $ 6,042 $ 11,600 $ 6,042 $ 11,600
v3.24.3
Commitments and Contingencies - Schedule of Activity in the Repurchase Reserve (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Commitments and Contingencies [Roll Forward]        
Balance at beginning of period $ 811 $ 1,129 $ 899 $ 1,621
Provision for (reversal of) loan repurchases or indemnifications 75 (200) 200 (650)
Losses on loans repurchased or indemnified (178) 0 (391) (42)
Balance at end of period $ 708 $ 929 $ 708 $ 929
v3.24.3
Derivatives - Narrative (Details) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Derivative [Line Items]          
Cash collateral pledged on derivatives $ 21,791,000   $ 21,791,000   $ 14,042,000
Designated as hedging | Interest expense on deposits          
Derivative [Line Items]          
Terminated fair value hedge increase amount 993,000   4,588,000    
Gain (loss) included in income statement (5,000) $ 267,000 517,000 $ 696,000  
Interest Rate Swap | Designated as hedging | Subordinated Debt          
Derivative [Line Items]          
Notional Amount         30,000,000
Derivatives 0   0   579,000
Interest Rate Swap | Interest expense on deposits | Designated as hedging          
Derivative [Line Items]          
Notional Amount         200,000,000
Estimated fair value (4,588,000)   (4,588,000)   (4,497,000)
Interest Rate Swap | Subordinated Debt | Designated as hedging          
Derivative [Line Items]          
Notional Amount         100,000,000
Estimated fair value $ 0   $ 0   $ (673,000)
v3.24.3
Derivatives - Schedule Income Included In Interest Expense On Borrowings And Deposits (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Derivatives, Fair Value [Line Items]        
Interest expense on deposits and borrowings $ 106,017 $ 100,926 $ 308,122 $ 306,129
Interest Rate Swap | Designated as Hedging Instrument        
Derivatives, Fair Value [Line Items]        
Interest expense on deposits and borrowings 0 (2,904) (645) (7,835)
Interest Rate Swap | Designated as Hedging Instrument | Interest expense on deposits        
Derivatives, Fair Value [Line Items]        
Interest expense on deposits and borrowings 0 (1,927) 0 (5,204)
Interest Rate Swap | Designated as Hedging Instrument | Interest expense on borrowings        
Derivatives, Fair Value [Line Items]        
Interest expense on deposits and borrowings $ 0 $ (977) $ (645) $ (2,631)
v3.24.3
Derivatives - Schedule of Balance Sheet (Details) - Interest Rate Swap
$ in Thousands
Dec. 31, 2023
USD ($)
Derivative [Line Items]  
Carrying amount of the hedged item $ 296,858
Cumulative decrease in fair value hedging adjustment included in the carrying amount of the hedged item (5,170)
Money market and savings deposits  
Derivative [Line Items]  
Carrying amount of the hedged item 198,143
Cumulative decrease in fair value hedging adjustment included in the carrying amount of the hedged item (4,497)
Purchase accounting fair value premium 2,640
Borrowings  
Derivative [Line Items]  
Carrying amount of the hedged item 98,715
Cumulative decrease in fair value hedging adjustment included in the carrying amount of the hedged item (673)
Borrowings | Subordinated Debt  
Derivative [Line Items]  
Unamortized subordinated debt issuance costs $ 612
v3.24.3
Derivatives - Schedule of Gains (Losses) Included in the Consolidated Statements of Income Related to Derivative Financial Instruments (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Derivatives, Fair Value [Line Items]        
Amount of loss recognized in other comprehensive income (loss), net of tax benefit of $21, $35, $151 and $99 $ (59) $ (101) $ (428) $ (281)
Other comprehensive income (loss), cash flow hedge, gain (loss), before reclassification, tax (21) (35) (151) (99)
Designated as hedging        
Derivatives, Fair Value [Line Items]        
Amount of loss recognized in other comprehensive income (loss), net of tax benefit of $21, $35, $151 and $99 (59) (101) (428) (281)
Not designated as hedging        
Derivatives, Fair Value [Line Items]        
Gains (losses) on derivative financial instruments 2,081 (6,128) (1,708) (6,922)
Not designated as hedging | Interest rate-lock commitments        
Derivatives, Fair Value [Line Items]        
Gains (losses) on derivative financial instruments 18 (537) 194 (358)
Not designated as hedging | Forward commitments        
Derivatives, Fair Value [Line Items]        
Gains (losses) on derivative financial instruments (1,549) 1,418 (1,115) 2,154
Not designated as hedging | Futures contracts        
Derivatives, Fair Value [Line Items]        
Gains (losses) on derivative financial instruments 3,612 (7,009) (787) (7,593)
Not designated as hedging | Option contracts        
Derivatives, Fair Value [Line Items]        
Gains (losses) on derivative financial instruments $ 0 $ 0 $ 0 $ (1,125)
v3.24.3
Derivatives - Schedule of Non-Designated Derivative Financial Instruments (Details) - Not designated as hedging - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Notional Amount $ 1,151,369 $ 1,052,082
Asset 26,123 34,159
Liability 26,490 33,045
Interest rate contracts    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Notional Amount 542,155 569,865
Asset 24,725 32,179
Liability 24,763 32,184
Forward commitments    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Notional Amount 240,000 159,000
Asset 0 0
Liability 393 861
Interest rate-lock commitments    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Notional Amount 105,714 69,217
Asset 1,398 1,203
Liability 0 0
Futures contracts    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Notional Amount 263,500 254,000
Asset 0 777
Liability $ 1,334 $ 0
v3.24.3
Derivatives - Schedule of Offsetting Derivative Assets and Liabilities (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Offsetting Derivative Assets    
Gross amounts recognized $ 21,372 $ 31,468
Gross amounts offset on the consolidated balance sheets 0 0
Net amounts presented on the consolidated balance sheets 21,372 31,468
Gross amounts not offset in the consolidated balance sheets, less financial instruments 3,452 6,502
Gross amounts not offset in the consolidated balance sheets, less financial collateral pledged 0 0
Net amounts 17,920 24,966
Offsetting Derivative Liabilities    
Gross amounts recognized 9,721 11,330
Gross amounts offset on the consolidated balance sheets 0 0
Net amounts presented on the consolidated balance sheets 9,721 11,330
Gross amounts not offset in the consolidated balance sheets, less financial instruments 3,452 6,502
Gross amounts not offset in the consolidated balance sheets, less financial collateral pledged 6,269 4,828
Net amounts $ 0 $ 0
v3.24.3
Fair Value of Financial Instruments - Schedule of Balances and Levels of Assets Measured at Fair Value on Recurring Basis (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Financial assets:    
AFS debt securities: $ 1,567,922 $ 1,471,973
Mortgage-backed securities - residential    
Financial assets:    
AFS debt securities: 879,589 896,971
Mortgage-backed securities - commercial    
Financial assets:    
AFS debt securities: 16,289 16,961
Municipal securities    
Financial assets:    
AFS debt securities: 154,229 242,263
U.S. Treasury securities    
Financial assets:    
AFS debt securities:   108,496
Corporate securities    
Financial assets:    
AFS debt securities: 982 3,326
Recurring Basis    
Financial assets:    
Total securities 1,567,922 1,471,973
Loans held for sale, at fair value 72,608 46,618
Mortgage servicing rights 157,097 164,249
Derivatives 26,123 34,738
Financial liabilities:    
Derivatives 26,490 38,215
Recurring Basis | U.S. government agency securities    
Financial assets:    
AFS debt securities: 516,833 203,956
Recurring Basis | Mortgage-backed securities - residential    
Financial assets:    
AFS debt securities: 879,589 896,971
Recurring Basis | Mortgage-backed securities - commercial    
Financial assets:    
AFS debt securities: 16,289 16,961
Recurring Basis | Municipal securities    
Financial assets:    
AFS debt securities: 154,229 242,263
Recurring Basis | U.S. Treasury securities    
Financial assets:    
AFS debt securities:   108,496
Recurring Basis | Corporate securities    
Financial assets:    
AFS debt securities: 982 3,326
Recurring Basis | Quoted prices in active markets for identical assets (liabilities) (level 1)    
Financial assets:    
Total securities 0 0
Loans held for sale, at fair value 0 0
Mortgage servicing rights 0 0
Derivatives 0 0
Financial liabilities:    
Derivatives 0 0
Recurring Basis | Quoted prices in active markets for identical assets (liabilities) (level 1) | U.S. government agency securities    
Financial assets:    
AFS debt securities: 0 0
Recurring Basis | Quoted prices in active markets for identical assets (liabilities) (level 1) | Mortgage-backed securities - residential    
Financial assets:    
AFS debt securities: 0 0
Recurring Basis | Quoted prices in active markets for identical assets (liabilities) (level 1) | Mortgage-backed securities - commercial    
Financial assets:    
AFS debt securities: 0 0
Recurring Basis | Quoted prices in active markets for identical assets (liabilities) (level 1) | Municipal securities    
Financial assets:    
AFS debt securities: 0 0
Recurring Basis | Quoted prices in active markets for identical assets (liabilities) (level 1) | U.S. Treasury securities    
Financial assets:    
AFS debt securities:   0
Recurring Basis | Quoted prices in active markets for identical assets (liabilities) (level 1) | Corporate securities    
Financial assets:    
AFS debt securities: 0 0
Recurring Basis | Significant other observable inputs (level 2)    
Financial assets:    
Total securities 1,567,922 1,471,973
Loans held for sale, at fair value 72,608 46,618
Mortgage servicing rights 0 0
Derivatives 26,123 34,738
Financial liabilities:    
Derivatives 26,490 38,215
Recurring Basis | Significant other observable inputs (level 2) | U.S. government agency securities    
Financial assets:    
AFS debt securities: 516,833 203,956
Recurring Basis | Significant other observable inputs (level 2) | Mortgage-backed securities - residential    
Financial assets:    
AFS debt securities: 879,589 896,971
Recurring Basis | Significant other observable inputs (level 2) | Mortgage-backed securities - commercial    
Financial assets:    
AFS debt securities: 16,289 16,961
Recurring Basis | Significant other observable inputs (level 2) | Municipal securities    
Financial assets:    
AFS debt securities: 154,229 242,263
Recurring Basis | Significant other observable inputs (level 2) | U.S. Treasury securities    
Financial assets:    
AFS debt securities:   108,496
Recurring Basis | Significant other observable inputs (level 2) | Corporate securities    
Financial assets:    
AFS debt securities: 982 3,326
Recurring Basis | Significant unobservable inputs (level 3)    
Financial assets:    
Total securities 0 0
Loans held for sale, at fair value 0 0
Mortgage servicing rights 157,097 164,249
Derivatives 0 0
Financial liabilities:    
Derivatives 0 0
Recurring Basis | Significant unobservable inputs (level 3) | U.S. government agency securities    
Financial assets:    
AFS debt securities: 0 0
Recurring Basis | Significant unobservable inputs (level 3) | Mortgage-backed securities - residential    
Financial assets:    
AFS debt securities: 0 0
Recurring Basis | Significant unobservable inputs (level 3) | Mortgage-backed securities - commercial    
Financial assets:    
AFS debt securities: 0 0
Recurring Basis | Significant unobservable inputs (level 3) | Municipal securities    
Financial assets:    
AFS debt securities: 0 0
Recurring Basis | Significant unobservable inputs (level 3) | U.S. Treasury securities    
Financial assets:    
AFS debt securities:   0
Recurring Basis | Significant unobservable inputs (level 3) | Corporate securities    
Financial assets:    
AFS debt securities: $ 0 $ 0
v3.24.3
Fair Value of Financial Instruments - Schedule of Balances and Levels of Assets Measured at Fair Value on Non-recurring Basis (Details) - Non-recurring Basis - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Financial assets:    
Other real estate owned $ 2,243 $ 2,400
Collateral-dependent net loans held for investment 9,308 13,041
Commercial and industrial    
Financial assets:    
Collateral-dependent net loans held for investment 2,350 12,338
Construction    
Financial assets:    
Collateral-dependent net loans held for investment 6,958 203
Residential real estate: | 1-to-4 family mortgage    
Financial assets:    
Collateral-dependent net loans held for investment   429
Consumer and other    
Financial assets:    
Collateral-dependent net loans held for investment   71
Quoted prices in active markets for identical assets (liabilities) (level 1)    
Financial assets:    
Other real estate owned 0 0
Collateral-dependent net loans held for investment 0 0
Quoted prices in active markets for identical assets (liabilities) (level 1) | Commercial and industrial    
Financial assets:    
Collateral-dependent net loans held for investment 0 0
Quoted prices in active markets for identical assets (liabilities) (level 1) | Construction    
Financial assets:    
Collateral-dependent net loans held for investment 0 0
Quoted prices in active markets for identical assets (liabilities) (level 1) | Residential real estate: | 1-to-4 family mortgage    
Financial assets:    
Collateral-dependent net loans held for investment   0
Quoted prices in active markets for identical assets (liabilities) (level 1) | Consumer and other    
Financial assets:    
Collateral-dependent net loans held for investment   0
Significant other observable inputs (level 2)    
Financial assets:    
Other real estate owned 0 0
Collateral-dependent net loans held for investment 0 0
Significant other observable inputs (level 2) | Commercial and industrial    
Financial assets:    
Collateral-dependent net loans held for investment 0 0
Significant other observable inputs (level 2) | Construction    
Financial assets:    
Collateral-dependent net loans held for investment 0 0
Significant other observable inputs (level 2) | Residential real estate: | 1-to-4 family mortgage    
Financial assets:    
Collateral-dependent net loans held for investment   0
Significant other observable inputs (level 2) | Consumer and other    
Financial assets:    
Collateral-dependent net loans held for investment   0
Significant unobservable inputs (level 3)    
Financial assets:    
Other real estate owned 2,243 2,400
Collateral-dependent net loans held for investment 9,308 13,041
Significant unobservable inputs (level 3) | Commercial and industrial    
Financial assets:    
Collateral-dependent net loans held for investment 2,350 12,338
Significant unobservable inputs (level 3) | Construction    
Financial assets:    
Collateral-dependent net loans held for investment $ 6,958 203
Significant unobservable inputs (level 3) | Residential real estate: | 1-to-4 family mortgage    
Financial assets:    
Collateral-dependent net loans held for investment   429
Significant unobservable inputs (level 3) | Consumer and other    
Financial assets:    
Collateral-dependent net loans held for investment   $ 71
v3.24.3
Fair Value of Financial Instruments - Schedule of Changes in Fair Value Associated with Commercial Loans Held for Sale (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2023
Change in fair value:    
Fair Value Recurring Basis Unobservable Input Reconciliation Asset Gain Loss Statement Of Income Extensible List Not Disclosed Flag Changes in valuation included in other noninterest income Changes in valuation included in other noninterest income
Franklin Financial Network, Inc. | Commercial and industrial | Principal balance    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Carrying value at beginning of period $ 12,232 $ 34,357
Change in fair value:    
Paydowns and payoffs   (22,125)
Changes in valuation included in other noninterest income 0 0
Carrying value at end of period 12,232 12,232
Franklin Financial Network, Inc. | Commercial and industrial | Fair Value discount    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Carrying value at beginning of period (2,965) (3,867)
Change in fair value:    
Paydowns and payoffs   0
Changes in valuation included in other noninterest income (7) 895
Carrying value at end of period (2,972) (2,972)
Franklin Financial Network, Inc. | Commercial and industrial |  Fair Value    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Carrying value at beginning of period 9,267 30,490
Change in fair value:    
Paydowns and payoffs   (22,125)
Changes in valuation included in other noninterest income (7) 895
Carrying value at end of period $ 9,260 $ 9,260
v3.24.3
Fair Value of Financial Instruments - Schedule of Information about Significant Unobservable Inputs (Level 3) Used in Valuation of Assets Measured at Fair Value on Nonrecurring Basis (Details) - Non-recurring Basis
$ in Thousands
Sep. 30, 2024
USD ($)
Dec. 31, 2023
USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Collateral-dependent net loans held for investment $ 9,308 $ 13,041
Other real estate owned 2,243 2,400
Significant unobservable inputs (level 3)    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Collateral-dependent net loans held for investment 9,308 13,041
Other real estate owned $ 2,243 $ 2,400
Significant unobservable inputs (level 3) | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Collateral dependent loans, measurement input 0.10 0.10
Other real estate owned, measurement input 0 0
Significant unobservable inputs (level 3) | Maximum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Collateral dependent loans, measurement input 0.70 0.61
Other real estate owned, measurement input 0.15 0.15
v3.24.3
Fair Value of Financial Instruments - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Mortgage Loans          
Fair Value Measurement Inputs and Valuation Techniques [Line Items]          
Net (losses) gains from fair value changes of mortgage loans held for sale recorded in income $ (241) $ (376) $ 315 $ (556)  
Loans HFS and derivatives          
Fair Value Measurement Inputs and Valuation Techniques [Line Items]          
Net (losses) gains from fair value changes of mortgage loans held for sale recorded in income (480) $ (582) 1,337 $ (129)  
Level 3 | Non-recurring Basis          
Fair Value Measurement Inputs and Valuation Techniques [Line Items]          
Amortized costs of collateral dependent loans $ 19,938   $ 19,938   $ 18,166
v3.24.3
Fair Value of Financial Instruments - Schedule of Loans Held for Sale at Fair Value (Details) - Recurring Basis - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total loans held for sale $ 103,145 $ 67,847
Other | Fair Value Option    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Mortgage loans held for sale 72,608 46,618
GNMA    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Mortgage loans held for sale $ 30,537 $ 21,229
v3.24.3
Fair Value of Financial Instruments - Schedule of Differences Between Fair Value and Principal Balance for Loans Held for Sale Measured at Fair Value (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Aggregate fair value    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Differences between the fair value and the principal balance for mortgage loans held for sale $ 72,608 $ 46,618
Aggregate unpaid principal balance    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Differences between the fair value and the principal balance for mortgage loans held for sale 71,184 45,509
Difference    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Differences between the fair value and the principal balance for mortgage loans held for sale $ 1,424 $ 1,109
v3.24.3
Fair Value of Financial Instruments - Schedule of Estimated Fair Values and Carrying Values of Financial Instruments (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Financial assets:    
Net loans held for investment $ 9,321,869 $ 9,258,457
Interest receivable 52,228 52,715
Carrying amount    
Financial assets:    
Cash and cash equivalents 951,750 810,932
Investment securities 1,567,922 1,471,973
Net loans held for investment 9,321,869 9,258,457
Loans held for sale, at fair value 72,608 46,618
Interest receivable 52,228 52,715
Mortgage servicing rights 157,097 164,249
Derivatives 26,123 34,738
Financial liabilities:    
Without stated maturities 9,078,893 8,927,654
With stated maturities 1,897,318 1,620,633
Securities sold under agreements to repurchase and federal funds purchased 19,708 108,764
Bank Term Funding Program   130,000
Subordinated debt, net 130,608 129,645
Interest payable 20,581 18,809
Derivatives 26,490 38,215
 Fair Value    
Financial assets:    
Cash and cash equivalents 951,750 810,932
Investment securities 1,567,922 1,471,973
Net loans held for investment 9,053,392 9,068,518
Loans held for sale, at fair value 72,608 46,618
Interest receivable 52,228 52,715
Mortgage servicing rights 157,097 164,249
Derivatives 26,123 34,738
Financial liabilities:    
Without stated maturities 9,078,893 8,927,654
With stated maturities 1,899,602 1,614,400
Securities sold under agreements to repurchase and federal funds purchased 19,708 108,764
Bank Term Funding Program   130,000
Subordinated debt, net 125,625 122,671
Interest payable 20,581 18,809
Derivatives 26,490 38,215
 Fair Value | Level 1    
Financial assets:    
Cash and cash equivalents 951,750 810,932
Investment securities 0 0
Net loans held for investment 0 0
Loans held for sale, at fair value 0 0
Interest receivable 1,304 388
Mortgage servicing rights 0 0
Derivatives 0 0
Financial liabilities:    
Without stated maturities 9,078,893 8,927,654
With stated maturities 0 0
Securities sold under agreements to repurchase and federal funds purchased 19,708 108,764
Bank Term Funding Program   0
Subordinated debt, net 0 0
Interest payable 4,052 4,104
Derivatives 0 0
 Fair Value | Level 2    
Financial assets:    
Cash and cash equivalents 0 0
Investment securities 1,567,922 1,471,973
Net loans held for investment 0 0
Loans held for sale, at fair value 72,608 46,618
Interest receivable 7,421 8,551
Mortgage servicing rights 0 0
Derivatives 26,123 34,738
Financial liabilities:    
Without stated maturities 0 0
With stated maturities 1,899,602 1,614,400
Securities sold under agreements to repurchase and federal funds purchased 0 0
Bank Term Funding Program   130,000
Subordinated debt, net 0 0
Interest payable 16,154 13,205
Derivatives 26,490 38,215
 Fair Value | Level 3    
Financial assets:    
Cash and cash equivalents 0 0
Investment securities 0 0
Net loans held for investment 9,053,392 9,068,518
Loans held for sale, at fair value 0 0
Interest receivable 43,503 43,776
Mortgage servicing rights 157,097 164,249
Derivatives 0 0
Financial liabilities:    
Without stated maturities 0 0
With stated maturities 0 0
Securities sold under agreements to repurchase and federal funds purchased 0 0
Bank Term Funding Program   0
Subordinated debt, net 125,625 122,671
Interest payable 375 1,500
Derivatives $ 0 $ 0
v3.24.3
Segment Reporting - Narrative (Details)
 9 Months Ended
Sep. 30, 2024
segment
Segment Reporting [Abstract]  
Number of reporting segments 2
v3.24.3
Segment Reporting - Schedule of Segment Financial Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Segment Reporting Information [Line Items]          
Net interest income $ 106,017 $ 100,926 $ 308,122 $ 306,129  
Provisions for (reversals of) credit losses 1,914 2,821 4,920 2,234  
Mortgage banking income 16,043 15,722 47,915 47,669  
Change in fair value of mortgage servicing rights, net of hedging (4,490) (3,724) (11,867) (11,353)  
Other noninterest (loss) income (28,050) (3,956) (18,975) 18,888  
Depreciation and amortization 3,255 2,681 8,957 7,361  
Amortization of intangibles 719 889 2,260 2,819  
Other noninterest mortgage banking expense 0 0      
Other noninterest expense 72,238 79,427 212,508 234,549  
Income before income taxes 11,394 23,150 96,550 114,370  
Income tax expense 1,174 3,975 18,393 23,507  
Net income attributable to FB Financial Corporation and noncontrolling interest 10,220 19,175 78,157 90,863  
Net income applicable to noncontrolling interest 0 0 8 8  
Net income applicable to FB Financial Corporation 10,220 19,175 78,149 90,855  
Total assets 12,920,222 12,489,631 12,920,222 12,489,631 $ 12,604,403
Goodwill 242,561 242,561 242,561 242,561 $ 242,561
Banking          
Segment Reporting Information [Line Items]          
Net interest income 104,335 99,359 303,990 301,438  
Provisions for (reversals of) credit losses 1,861 3,253 5,131 2,316  
Mortgage banking income 0 0 0 0  
Change in fair value of mortgage servicing rights, net of hedging 0 0 0 0  
Other noninterest (loss) income (28,370) (4,031) (19,687) 18,942  
Depreciation and amortization 3,141 2,514 8,594 6,783  
Amortization of intangibles 719 889 2,260 2,819  
Other noninterest mortgage banking expense 0 0      
Other noninterest expense 59,425 65,309 175,104 192,070  
Income before income taxes 10,819 23,363 93,214 116,392  
Total assets 12,337,135 11,904,608 12,337,135 11,904,608  
Goodwill 242,561 242,561 242,561 242,561  
Mortgage          
Segment Reporting Information [Line Items]          
Net interest income 1,682 1,567 4,132 4,691  
Provisions for (reversals of) credit losses 53 (432) (211) (82)  
Mortgage banking income 16,043 15,722 47,915 47,669  
Change in fair value of mortgage servicing rights, net of hedging (4,490) (3,724) (11,867) (11,353)  
Other noninterest (loss) income 320 75 712 (54)  
Depreciation and amortization 114 167 363 578  
Amortization of intangibles 0 0 0 0  
Other noninterest mortgage banking expense 0 0      
Other noninterest expense 12,813 14,118 37,404 42,479  
Income before income taxes 575 (213) 3,336 (2,022)  
Total assets 583,087 585,023 583,087 585,023  
Goodwill $ 0 $ 0 $ 0 $ 0  
v3.24.3
Minimum Capital Requirements - Schedule of Actual and Required Capital Amounts and Ratios (Details)
$ in Thousands
Sep. 30, 2024
USD ($)
Dec. 31, 2023
USD ($)
FB Financial Corporation    
Total Capital (to risk-weighted assets)    
Actual, amount $ 1,686,651 $ 1,635,848
Actual, ratio 0.151 0.145
Minimum requirement for capital adequacy with capital buffer, amount $ 1,170,701 $ 1,182,028
Minimum requirement for capital adequacy with capital buffer, ratio 0.105 0.105
Tier 1 Capital (to risk-weighted assets)    
Actual, amount $ 1,447,410 $ 1,405,890
Actual, ratio 0.130 0.125
Minimum requirement for capital adequacy with capital buffer, amount $ 947,711 $ 956,880
Minimum requirement for capital adequacy with capital buffer, ratio 0.085 0.085
Common Equity Tier 1 Capital (to risk-weighted assets)    
Actual, amount $ 1,417,410 $ 1,375,890
Actual ratio 0.127 0.122
Minimum requirement for capital adequacy with capital buffer, amount $ 780,468 $ 788,018
Minimum requirement for capital adequacy with capital buffer, ratio 0.070 0.070
Tier 1 Capital (to average assets)    
Actual, amount $ 1,447,410 $ 1,405,890
Actual, ratio 0.115 0.113
Minimum requirement for capital adequacy with capital buffer, amount $ 505,439 $ 496,485
Minimum requirement for capital adequacy with capital buffer, ratio 0.040 0.040
FirstBank    
Total Capital (to risk-weighted assets)    
Actual, amount $ 1,651,199 $ 1,600,950
Actual, ratio 0.149 0.142
Minimum requirement for capital adequacy with capital buffer, amount $ 1,167,269 $ 1,179,886
Minimum requirement for capital adequacy with capital buffer, ratio 0.105 0.105
To qualify as well-capitalized under prompt corrective action provision, amount $ 1,111,684 $ 1,123,701
To qualify as well-capitalized under prompt corrective action provision, ratio 0.100 0.100
Tier 1 Capital (to risk-weighted assets)    
Actual, amount $ 1,412,362 $ 1,370,991
Actual, ratio 0.127 0.122
Minimum requirement for capital adequacy with capital buffer, amount $ 944,932 $ 955,145
Minimum requirement for capital adequacy with capital buffer, ratio 0.085 0.085
To qualify as well-capitalized under prompt corrective action provision, amount $ 889,347 $ 898,960
To qualify as well-capitalized under prompt corrective action provision, ratio 0.080 0.080
Common Equity Tier 1 Capital (to risk-weighted assets)    
Actual, amount $ 1,412,362 $ 1,370,991
Actual ratio 0.127 0.122
Minimum requirement for capital adequacy with capital buffer, amount $ 778,179 $ 786,590
Minimum requirement for capital adequacy with capital buffer, ratio 0.070 0.070
To qualify as well-capitalized under prompt corrective action provision, amount $ 722,595 $ 730,405
To qualify as well-capitalized under prompt corrective action provision, ratio 0.065 0.065
Tier 1 Capital (to average assets)    
Actual, amount $ 1,412,362 $ 1,370,991
Actual, ratio 0.112 0.111
Minimum requirement for capital adequacy with capital buffer, amount $ 504,643 $ 495,761
Minimum requirement for capital adequacy with capital buffer, ratio 0.040 0.040
To qualify as well-capitalized under prompt corrective action provision, amount $ 630,804 $ 619,701
To qualify as well-capitalized under prompt corrective action provision, ratio 0.050 0.050
v3.24.3
Stock-Based Compensation - Schedule of Changes in Restricted Stock Units (Details) - RSUs
 9 Months Ended
Sep. 30, 2024
$ / shares
shares
Restricted Stock Units Outstanding  
Balance at beginning of period (in shares) | shares 323,520,000
Granted (in shares) | shares 178,570,000
Vested (in shares) | shares (144,860,000)
Forfeited (in shares) | shares (8,279,000)
Balance at end of period (in shares) | shares 348,951,000
Weighted Average Grant Date Fair Value  
Balance at beginning of period (in dollars per share) | $ / shares $ 37.52
Granted (in dollars per share) | $ / shares 35.87
Vested (in dollars per share) | $ / shares 37.94
Forfeited (in dollars per share) | $ / shares 37.55
Balance at end of period (in dollars per share) | $ / shares $ 36.51
v3.24.3
Stock-Based Compensation - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Stock-based compensation expense     $ 7,261 $ 8,317  
Dividends declared not paid on restricted stock units $ 279 $ 241 279 241  
Proceeds from employee payroll withholdings 473 381 861 686  
RSUs          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Fair value of restricted stock units vested and released 207 1,208 5,496 7,601  
Stock-based compensation expense 1,744 1,965 5,741 5,859  
Unrecognized compensation cost related to nonvested awards 8,225   $ 8,225    
Expected weighted-average period to be recognized     1 year 9 months 21 days    
Dividends declared not paid on restricted stock units $ 291   $ 291   $ 268
RSUs | 2016-LTIP Plan          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Number of shares available for issuable (in shares) 1,356,587   1,356,587    
RSUs | Directors          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Stock-based compensation expense $ 237 179 $ 584 626  
PSUs          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Stock-based compensation expense 607 $ 819 1,520 $ 2,458  
Unrecognized compensation cost related to nonvested awards 13,395   $ 13,395    
Expected weighted-average period to be recognized     1 year 11 months 12 days    
Dividends declared not paid on restricted stock units $ 179   $ 179   $ 85
Criteria period     3 years    
Maximum unrecognized compensation cost, payout percentage 200.00%   200.00%    
PSUs | Tranche One          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Award vesting, percentage     0.00%    
PSUs | Tranche Four          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Award vesting, percentage     200.00%    
Employee Stock | ESPP          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Number of shares available for issuable (in shares) 200,000   200,000    
Purchase price percentage of subsequent offering periods     95.00%    
Maximum number of shares per participant (in shares)     725    
Shares issued under plan (in shares) 11,256 12,306 21,862 20,520  
Number of shares reserved for issuance (in shares) 2,272,364   2,272,364    
v3.24.3
Stock-Based Compensation - Schedule of Changes in Performance Stock Units (Details) - PSUs
 9 Months Ended
Sep. 30, 2024
$ / shares
shares
Performance Stock Units Outstanding  
Balance at beginning of period (in shares) | shares 176,163
Granted (in shares) | shares 100,267
Performance adjustment (in shares) | shares (9,778)
Vested (in shares) | shares (40,071)
Forfeited or expired (in shares) | shares (3,188)
Balance at end of period (in shares) | shares 223,393
Weighted Average Grant Date Fair Value  
Balance at beginning of period (in dollars per share) $ 40.86
Granted (in dollars per share) 35.60
Performance adjustment (in dollars per share) 42.71
Vested (in dollars per share) 42.71
Forfeited or expired (in dollars per share) 38.07
Balance at end of period (in dollars per share) 38.06
Tranche Three  
Weighted Average Grant Date Fair Value  
Granted (in dollars per share) $ 35.60
Award vesting, percentage 100.00%
v3.24.3
Stock-Based Compensation - Schedule of Share-Based Payment Arrangement, Performance Shares, Activity (Details) - PSUs
 9 Months Ended
Sep. 30, 2024
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Granted (in dollars per share) $ 35.60
Tranche One  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Granted (in dollars per share) $ 44.44
PSUs outstanding (in shares) | shares 48,710
Tranche Two  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Granted (in dollars per share) $ 37.17
PSUs outstanding (in shares) | shares 75,893
Tranche Three  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Granted (in dollars per share) $ 35.60
PSUs outstanding (in shares) | shares 98,790
v3.24.3
Related Party Transactions - Schedule of Loans Analysis to Executive Officers, Certain Management, Bank Directors and Related Interests (Details)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
USD ($)
Financing Receivable, Related Parties [Roll Forward]  
Loans outstanding at January 1, 2024 $ 49,073
New loans and advances 1,681
Change in related party status 0
Repayments (22,002)
Loans outstanding at September 30, 2024 $ 28,752
v3.24.3
Related Party Transactions - Narrative (Details) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Related Party Transaction [Line Items]          
Deposits from related parties $ 184,108,000   $ 184,108,000   $ 316,141,000
Other income 2,465,000 $ 1,456,000 8,786,000 $ 7,491,000  
Equity method investments 20,000,000   20,000,000    
Amortized cost 1,673,079,000   1,673,079,000   1,658,779,000
Manufactured loan housing securities          
Related Party Transaction [Line Items]          
Mater loan purchase agreement, maximum capacity 250,000   $ 250,000    
Master loan purchase agreement, term     5 years    
Loans purchased 16,970,000 12,676,000 $ 43,776,000 19,125,000  
Amortized cost 73,808,000   73,808,000   32,154,000
Preferred Stock          
Related Party Transaction [Line Items]          
Equity method investments 20,000,000   20,000,000    
Equity security without readily determinable market value         10,000,000
Directors          
Related Party Transaction [Line Items]          
Operating lease expense 100,000 102,000 311,000 295,000  
Directors | FBK Aviation, LLC | Aviation Time Sharing Agreements          
Related Party Transaction [Line Items]          
Other income 3,000 $ 15,000 46,000 $ 26,000  
Unfunded Loan Commitment | Certain Executive Officers, Certain Management and Directors and Their Associates          
Related Party Transaction [Line Items]          
Unfunded commitments $ 30,044,000   $ 30,044,000   $ 44,206,000