FB FINANCIAL CORP, 10-Q filed on 5/6/2024
Quarterly Report
v3.24.1.u1
Cover - shares
 3 Months Ended
Mar. 31, 2024
Apr. 30, 2024
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 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 $1.00 Per Share  
Trading Symbol FBK  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Reporting Company false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   46,987,655
Amendment Flag false  
Document Fiscal Year Focus 2024  
Document Fiscal Period Focus Q1  
Entity Central Index Key 0001649749  
Current Fiscal Year End Date --12-31  
v3.24.1.u1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
ASSETS    
Cash and due from banks $ 124,772 $ 146,542
Federal funds sold and reverse repurchase agreements 100,785 83,324
Interest-bearing deposits in financial institutions 645,173 581,066
Cash and cash equivalents 870,730 810,932
Investments:    
Available-for-sale debt securities, at fair value 1,464,682 1,471,973
Federal Home Loan Bank stock, at cost 33,948 34,190
Loans held for sale (includes $61,828 and $46,618 at fair value, respectively) 82,704 67,847
Loans held for investment 9,288,909 9,408,783
Less: allowance for credit losses on loans HFI 151,667 150,326
Net loans held for investment 9,137,242 9,258,457
Premises and equipment, net 155,271 155,731
Operating lease right-of-use assets 51,421 54,295
Interest receivable 53,506 52,715
Mortgage servicing rights, at fair value 165,674 164,249
Bank-owned life insurance 76,574 76,143
Other real estate owned, net 3,613 3,192
Goodwill 242,561 242,561
Core deposit and other intangibles, net 7,920 8,709
Other assets 202,474 203,409
Total assets 12,548,320 12,604,403
Deposits    
Noninterest-bearing 2,182,121 2,218,382
Interest-bearing checking 2,421,487 2,504,421
Money market and savings 4,298,938 4,204,851
Customer time deposits 1,471,190 1,469,811
Brokered and internet time deposits 131,192 150,822
Total deposits 10,504,928 10,548,287
Borrowings 360,821 390,964
Operating lease liabilities 64,562 67,643
Accrued expenses and other liabilities 138,390 142,622
Total liabilities 11,068,701 11,149,516
SHAREHOLDERS' EQUITY    
Common stock, $1 par value per share; 75,000,000 shares authorized; 46,897,378 and 46,848,934 shares issued and outstanding, respectively 46,897 46,849
Additional paid-in capital 866,803 864,258
Retained earnings 698,310 678,412
Accumulated other comprehensive loss, net (132,484) (134,725)
Total FB Financial Corporation common shareholders' equity 1,479,526 1,454,794
Noncontrolling interest 93 93
Total equity 1,479,619 1,454,887
Total liabilities and shareholders' equity $ 12,548,320 $ 12,604,403
v3.24.1.u1
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Fair value of loan held for sale $ 82,704 $ 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) 46,897,378 46,848,934
Common stock, shares outstanding (in shares) 46,897,378 46,848,934
 Fair Value    
Fair value of loan held for sale $ 61,828 $ 46,618
v3.24.1.u1
Consolidated Statements of Income - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest income:    
Interest and fees on loans $ 155,606 $ 140,356
Interest on investment securities    
Taxable 9,105 6,570
Tax-exempt 1,442 1,804
Other 9,975 10,750
Total interest income 176,128 159,480
Interest expense:    
Deposits 72,625 52,863
Borrowings 4,013 2,957
Total interest expense 76,638 55,820
Net interest income 99,490 103,660
Provision for credit losses on loans HFI 1,852 4,997
Reversal of credit losses on unfunded commitments (1,070) (4,506)
Net interest income after provision for credit losses 98,708 103,169
Noninterest income:    
(Loss) gain from investment securities, net (16,213) 69
Gain (loss) on sales or write-downs of other real estate owned and other assets 565 (183)
Other income 1,710 3,550
Total noninterest income 7,962 23,349
Noninterest expenses:    
Salaries, commissions and employee benefits 44,618 48,788
Occupancy and equipment expense 6,614 5,909
Data processing 2,408 2,113
Legal and professional fees 1,919 3,108
Advertising 1,171 2,133
Amortization of core deposit and other intangibles 789 990
Other expense 14,901 17,399
Total noninterest expense 72,420 80,440
Income before income taxes 34,250 46,078
Income tax expense 6,300 9,697
Net income applicable to FB Financial Corporation and noncontrolling interest 27,950 36,381
Net income applicable to noncontrolling interest 0 0
Net income applicable to FB Financial Corporation $ 27,950 $ 36,381
Earnings per common share:    
Basic (in dollars per share) $ 0.60 $ 0.78
Diluted (in dollars per share) $ 0.59 $ 0.78
Mortgage banking income    
Noninterest income:    
Mortgage banking income, service charges on deposit accounts, investment services and trust income, ATM and interchange fees $ 12,585 $ 12,086
Service charges on deposit accounts    
Noninterest income:    
Mortgage banking income, service charges on deposit accounts, investment services and trust income, ATM and interchange fees 3,141 3,053
Investment services and trust income    
Noninterest income:    
Mortgage banking income, service charges on deposit accounts, investment services and trust income, ATM and interchange fees 3,230 2,378
ATM and interchange fees    
Noninterest income:    
Mortgage banking income, service charges on deposit accounts, investment services and trust income, ATM and interchange fees $ 2,944 $ 2,396
v3.24.1.u1
Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Statement of Comprehensive Income [Abstract]    
Net income $ 27,950 $ 36,381
Other comprehensive income, net of tax:    
Net unrealized (loss) gain in available-for-sale securities, net of tax (benefit) expense of $(3,432) and $7,059 (9,573) 20,064
Reclassification adjustment for loss on sale of securities included in net income, net of tax benefit of $4,225 and $— 11,988 0
Net unrealized loss in hedging activities, net of tax benefit of $62 and $70 (174) (197)
Total other comprehensive income, net of tax 2,241 19,867
Comprehensive income applicable to FB Financial Corporation and noncontrolling interest 30,191 56,248
Comprehensive income applicable to noncontrolling interest 0 0
Comprehensive income applicable to FB Financial Corporation $ 30,191 $ 56,248
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Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Statement of Comprehensive Income [Abstract]    
Net tax (benefits) expenses on net change in unrealized gain (loss) on available-for-sale securities $ (3,432) $ 7,059
Net tax expenses (benefits) on reclassification adjustment for gain on sale of securities included in net income 4,225 0
Net tax expenses (benefits) recognized on net change in unrealized gain (loss) on hedging activities $ (62) $ (70)
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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 36,381     36,381                 36,381    
Other comprehensive income (loss), net of taxes 19,867     19,867                   19,867  
Repurchase of common stock (4,944)     (4,944)     (136)     (4,808)          
Stock based compensation expense 2,285     2,285     1     2,284          
Restricted stock and performance-based restricted stock units vested, net of taxes   $ (1,452) $ (1,145)   $ (1,452) $ (1,145)   $ 92 $ 60   $ (1,544) $ (1,205)      
Shares issued under employee stock purchase program 321     321     8     313          
Dividends declared (7,042)     (7,042)                 (7,042)    
Ending balance at Mar. 31, 2023 1,369,789     1,369,696     46,763     856,628     615,871 (149,566) 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 27,950     27,950                 27,950    
Other comprehensive income (loss), net of taxes 2,241     2,241                   2,241  
Stock based compensation expense 2,820     2,820     1     2,819          
Restricted stock and performance-based restricted stock units vested, net of taxes   $ (281) $ (345)   $ (281) $ (345)   $ 11 $ 25   $ (292) $ (370)      
Shares issued under employee stock purchase program 399     399     11     388          
Dividends declared (8,052)     (8,052)                 (8,052)    
Ending balance at Mar. 31, 2024 $ 1,479,619     $ 1,479,526     $ 46,897     $ 866,803     $ 698,310 $ (132,484) $ 93
v3.24.1.u1
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]    
Dividends declared (in dollars per share) $ 0.17 $ 0.15
v3.24.1.u1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income attributable to FB Financial Corporation and noncontrolling interest $ 27,950 $ 36,381
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of fixed assets and software 2,841 2,228
Amortization of core deposit and other intangibles 789 990
Amortization of issuance costs on subordinated debt 96 97
Capitalization of mortgage servicing rights (1,131) (1,788)
Net change in fair value of mortgage servicing rights (294) 5,274
Stock-based compensation expense 2,820 2,285
Provision for credit losses on loans HFI 1,852 4,997
Reversal of credit losses on unfunded commitments (1,070) (4,506)
Provision for mortgage loan repurchases 50 (250)
Accretion of discounts and premiums on acquired loans, net (387) (319)
Amortization of premiums and discounts on securities, net 1,356 1,382
Loss (gain) from investment securities, net 16,213 (69)
Originations of loans held for sale (258,352) (295,760)
Proceeds from sale of loans held for sale 251,548 340,108
Gain on sale and change in fair value of loans held for sale (8,279) (8,635)
Net (gain) loss on write-downs of other real estate owned and other assets (565) 183
Provision for deferred income taxes 207 1,396
Earnings on bank-owned life insurance (431) (605)
Changes in:    
Operating lease assets and liabilities, net (207) 580
Other assets and interest receivable (665) 62,512
Accrued expenses and other liabilities 1,927 (48,099)
Net cash provided by operating activities 36,268 98,382
Activity in available-for-sale securities:    
Sales 207,882 0
Maturities, prepayments and calls 66,627 26,827
Purchases (281,579) (660)
Net change in loans 117,904 (52,540)
Proceeds from sales of FHLB stock, net 242 15,272
Purchases of premises and equipment (1,620) (9,450)
Proceeds from the sale of premises and equipment 137 0
Proceeds from the sale of other real estate owned 389 2,031
Proceeds from the sale of other assets 161 0
Proceeds from bank-owned life insurance 0 236
Net cash provided by (used in) investing activities 110,143 (18,284)
Cash flows from financing activities:    
Net (decrease) increase in deposits (47,856) 325,965
Net decrease in securities sold under agreements to repurchase and federal funds purchased (30,535) (48,815)
Net decrease in short-term FHLB advances and Bank Term Funding Program 0 (50,000)
Share based compensation withholding payments (626) (2,597)
Net proceeds from sale of common stock under employee stock purchase program 399 321
Repurchase of common stock 0 (4,944)
Dividends paid on common stock (7,965) (6,994)
Dividend equivalent payments made upon vesting of equity compensation (30) (135)
Net cash (used in) provided by financing activities (86,613) 212,801
Net change in cash and cash equivalents 59,798 292,899
Cash and cash equivalents at beginning of the period 810,932 1,027,052
Cash and cash equivalents at end of the period 870,730 1,319,951
Supplemental cash flow information:    
Interest paid 74,943 52,634
Taxes paid (refunded), net 277 (904)
Supplemental noncash disclosures:    
Transfers from loans to other real estate owned 753 235
Transfers from loans to other assets 1,031 0
Transfers from loans to loans held for sale 167 7,126
Transfers from loans held for sale to loans 40 776
Loans provided for sales of other assets 65 0
Decrease in rebooked GNMA loans under optional repurchase program (353) (5,683)
Trade date payable - securities 0 245
Dividends declared not paid on restricted stock units 87 48
Right-of-use assets obtained in exchange for operating lease liabilities $ 0 $ 3,375
v3.24.1.u1
Basis of Presentation
 3 Months Ended
Mar. 31, 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 March 31, 2024, the Bank had 76 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 share
Basic EPS 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 EPS includes the dilutive effect of additional potential common shares issuable under the restricted stock units granted but not yet vested and distributable. Diluted EPS 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 EPS. Accordingly, the Company is required to calculate basic and diluted EPS using the two-class method. Calculations of EPS under the two-class method (i) exclude from the numerator any dividends paid or owed on participating securities and any undistributed earnings considered to be attributable to participating securities and (ii) exclude 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 March 31,
 20242023
Basic earnings per common share:
Net income applicable to FB Financial Corporation$27,950 $36,381 
Dividends paid on and undistributed earnings allocated to participating securities— — 
Earnings available to common shareholders$27,950 $36,381 
Weighted average basic shares outstanding46,874,882 46,679,618 
Basic earnings per common share$0.60 $0.78 
Diluted earnings per common share:
Earnings available to common shareholders$27,950 $36,381 
Weighted average basic shares outstanding46,874,882 46,679,618 
Weighted average diluted shares contingently issuable(1)
123,991 85,536 
Weighted average diluted shares outstanding46,998,873 46,765,154 
Diluted earnings per common share$0.59 $0.78 
(1) Excludes 2,949 and 159,946 restricted stock units outstanding considered to be antidilutive for the three months ended March 31, 2024 and 2023, respectively.
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. The Company is evaluating the impact this will have on the Company's consolidated financial statements and related 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 currently evaluating the effect that ASU 2023-09 will have on its 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 March 31, 2024, but prior to the issuance of these financial statements that would have a material impact on the Company’s consolidated financial statements.
v3.24.1.u1
Investment Securities
 3 Months Ended
Mar. 31, 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 at March 31, 2024 and December 31, 2023:  
March 31, 2024
 Amortized cost Gross unrealized gains Gross unrealized losses Allowance for credit losses for investments Fair Value
Investment Securities    
AFS debt securities  
U.S. government agency securities$416,953 $145 $(1,171)$— $415,927 
Mortgage-backed securities - residential984,473 — (158,259)— 826,214 
Mortgage-backed securities - commercial 17,899 — (1,284)— 16,615 
Municipal securities194,470 45 (22,843)— 171,672 
U.S. Treasury securities30,985 — (128)— 30,857 
Corporate securities3,500 — (103)— 3,397 
Total$1,648,280 $190 $(183,788)$— $1,464,682 
December 31, 2023
 Amortized costGross unrealized gains Gross unrealized losses Allowance for credit losses for 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 excludes accrued interest receivable since the Company elected to present accrued interest receivable separately on the consolidated balance sheets. As of March 31, 2024 and December 31, 2023, total accrued interest receivable on AFS debt securities was $5,409 and $7,212, respectively.
Securities pledged at March 31, 2024 and December 31, 2023 had carrying amounts of $949,958 and $929,546, respectively, and were pledged to secure a Federal Reserve Bank line of credit, Bank Term Funding Program borrowings, public deposits and repurchase agreements.
There were no holdings of AFS debt securities of any one issuer, other than U.S. Government sponsored enterprises, in an amount greater than 10% of shareholders' equity during any period presented.
Investment securities transactions are recorded as of the trade date. At March 31, 2024 and December 31, 2023, there were no trade date receivables nor payables that related to sales or purchases settled after period end.
The following tables show gross unrealized losses for which an allowance for credit losses has not been recorded at March 31, 2024 and December 31, 2023, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:
March 31, 2024
 Less than 12 months12 months or moreTotal
 Fair ValueGross Unrealized Loss Fair ValueGross Unrealized LossFair ValueGross Unrealized Loss
U.S. government agency securities$203,870 $(484)$7,251 $(687)$211,121 $(1,171)
Mortgage-backed securities - residential— — 776,208 (158,259)776,208 (158,259)
Mortgage-backed securities - commercial— — 16,615 (1,284)16,615 (1,284)
Municipal securities9,131 (41)155,959 (22,802)165,090 (22,843)
U.S. Treasury securities— — 30,857 (128)30,857 (128)
Corporate securities— — 3,397 (103)3,397 (103)
Total$213,001 $(525)$990,287 $(183,263)$1,203,288 $(183,788)
 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 March 31, 2024 and December 31, 2023, the Company’s AFS debt securities portfolio consisted of 340 and 439 securities, 316 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 securities with market values below amortized cost at March 31, 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 March 31, 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 March 31, 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 March 31, 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.
March 31,December 31,
 2024 2023 
 Available-for-saleAvailable-for-sale
 Amortized costFair valueAmortized costFair value
Due in one year or less$34,073 $33,910 $64,776 $64,279 
Due in one to five years10,851 10,080 75,996 71,801 
Due in five to ten years40,939 39,932 51,162 49,630 
Due in over ten years560,045 537,931 391,270 372,331 
645,908 621,853 583,204 558,041 
Mortgage-backed securities - residential984,473 826,214 1,057,389 896,971 
Mortgage-backed securities - commercial17,899 16,615 18,186 16,961 
Total AFS debt securities$1,648,280 $1,464,682 $1,658,779 $1,471,973 
Sales and other dispositions of AFS debt securities were as follows:
 Three Months Ended March 31,
 2024 2023 
Proceeds from sales$207,882 $— 
Proceeds from maturities, prepayments and calls66,627 26,827 
Gross realized gains90 — 
Gross realized losses16,303 — 
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 $25,589 and $25,191 at March 31, 2024 and December 31, 2023, respectively. Additionally, the Company had $33,948 and $34,190 of FHLB stock carried at cost at March 31, 2024 and December 31, 2023, respectively, included separately from the other equity securities discussed above.
v3.24.1.u1
Loans and Allowance for Credit Losses on Loans HFI
 3 Months Ended
Mar. 31, 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 March 31, 2024 and December 31, 2023, by class of financing receivable are as follows:
 March 31,December 31,
 2024 2023 
Commercial and industrial$1,621,611 $1,720,733 
Construction1,268,883 1,397,313 
Residential real estate:
1-to-4 family mortgage1,577,824 1,568,552 
Residential line of credit549,306 530,912 
Multi-family mortgage615,081 603,804 
Commercial real estate:
Owner-occupied1,236,007 1,232,071 
Non-owner occupied1,991,526 1,943,525 
Consumer and other428,671 411,873 
Gross loans9,288,909 9,408,783 
Less: Allowance for credit losses on loans HFI(151,667)(150,326)
Net loans$9,137,242 $9,258,457 
As of March 31, 2024 and December 31, 2023, $950,787 and $1,030,016, respectively, of qualifying residential mortgage loans (including loans held for sale) and $1,563,819 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 March 31, 2024 and December 31, 2023, qualifying commercial and industrial, construction and consumer loans, of $2,982,391 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 March 31, 2024 and December 31, 2023, accrued interest receivable on loans HFI amounted to $45,840 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 are 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 March 31, 2024 and December 31, 2023 and the gross charge-offs for the three months ended March 31, 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 three months
    ended March 31, 2024
2024 2023 2022 2021 2020 PriorRevolving Loans Amortized Cost BasisTotal
Commercial and industrial
Pass$16,449 $202,050 $237,139 $72,725 $36,876 $129,057 $864,065 $1,558,361 
Special Mention— 3,675 17,572 2,913 — 247 4,521 28,928 
Classified— 457 4,328 3,017 2,987 6,350 17,183 34,322 
Total16,449 206,182 259,039 78,655 39,863 135,654 885,769 1,621,611 
            Current-period gross
               charge-offs		— — — 14 — 7 22 43 
Construction
Pass39,360 193,203 551,909 124,878 36,531 86,713 187,955 1,220,549 
Special Mention— 711 4,689 2,508 — 657 12,000 20,565 
Classified— — 3,986 2,590 6,877 — 14,316 27,769 
Total39,360 193,914 560,584 129,976 43,408 87,370 214,271 1,268,883 
            Current-period gross
               charge-offs		— — — — — — 92 92 
Residential real estate:
Multi-family mortgage
Pass— 29,861 193,591 244,770 54,744 68,104 22,953 614,023 
Special Mention— — — — — — — — 
Classified— — — — — 1,058 — 1,058 
Total— 29,861 193,591 244,770 54,744 69,162 22,953 615,081 
             Current-period gross
                charge-offs		— — — — — — — — 
Commercial real estate:
Owner occupied
Pass24,636 112,168 253,377 231,354 113,481 428,182 53,516 1,216,714 
Special Mention— — 1,283 1,811 — 2,547 — 5,641 
Classified— — 6,281 16 65 6,228 1,062 13,652 
Total24,636 112,168 260,941 233,181 113,546 436,957 54,578 1,236,007 
            Current-period gross
              charge-offs		— — — — — — — — 
Non-owner occupied
Pass3,755 45,516 533,649 468,553 122,699 750,943 43,090 1,968,205 
Special Mention— — — 3,966 — 83 — 4,049 
Classified— — — 998 — 18,274 — 19,272 
Total3,755 45,516 533,649 473,517 122,699 769,300 43,090 1,991,526 
             Current-period gross
                charge-offs		— — — — — — — — 
Total commercial loan types
Pass84,200 582,798 1,769,665 1,142,280 364,331 1,462,999 1,171,579 6,577,852 
Special Mention— 4,386 23,544 11,198 — 3,534 16,521 59,183 
Classified— 457 14,595 6,621 9,929 31,910 32,561 96,073 
Total$84,200 $587,641 $1,807,804 $1,160,099 $374,260 $1,498,443 $1,220,661 $6,733,108 
            Current-period gross
                charge-offs		$— $— $— $14 $— $7 $114 $135 
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.
The following tables present the credit quality by classification (performing or nonperforming) of the Company's consumer type loan portfolio as of March 31, 2024 and December 31, 2023 and the gross charge-offs for the three months ended March 31, 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 three months
     ended March 31, 2024
2024 2023 2022 2021 2020 PriorRevolving Loans Amortized Cost BasisTotal
Residential real estate:
1-to-4 family mortgage
Performing$43,291 $187,203 $492,643 $393,806 $143,618 $298,828 $— $1,559,389 
Nonperforming— 325 5,027 3,237 4,421 5,425 — 18,435 
Total43,291 187,528 497,670 397,043 148,039 304,253 — 1,577,824 
          Current-period gross
             charge-offs		— — — — — — — — 
Residential line of credit
Performing— — — — — — 547,097 547,097 
Nonperforming— — — — — — 2,209 2,209 
Total— — — — — — 549,306 549,306 
          Current-period gross
             charge-offs		— — — — — — 20 20 
Consumer and other
Performing25,887 109,013 87,312 42,673 33,415 114,071 5,849 418,220 
Nonperforming— 561 909 2,293 1,849 4,839 — 10,451 
       Total25,887 109,574 88,221 44,966 35,264 118,910 5,849 428,671 
           Current-period gross
             charge-offs		155 344 31 96 36 110 — 772 
Total consumer type loans
Performing69,178 296,216 579,955 436,479 177,033 412,899 552,946 2,524,706 
Nonperforming— 886 5,936 5,530 6,270 10,264 2,209 31,095 
        Total$69,178 $297,102 $585,891 $442,009 $183,303 $423,163 $555,155 $2,555,801 
            Current-period gross
             charge-offs		$155 $344 $31 $96 $36 $110 $20 $792 
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
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 represent an analysis of the aging by class of financing receivable as of March 31, 2024 and December 31, 2023:
March 31, 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$1,606 $— $24,643 $1,595,362 $1,621,611 
Construction1,474 585 5,077 1,261,747 1,268,883 
Residential real estate:
1-to-4 family mortgage17,881 9,610 8,825 1,541,508 1,577,824 
Residential line of credit1,717 1,097 1,112 545,380 549,306 
Multi-family mortgage— — 31 615,050 615,081 
Commercial real estate:
Owner occupied465 — 3,069 1,232,473 1,236,007 
Non-owner occupied3,631 — 3,250 1,984,645 1,991,526 
Consumer and other10,699 1,566 8,885 407,521 428,671 
Total$37,473 $12,858 $54,892 $9,183,686 $9,288,909 
 
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 March 31, 2024 and December 31, 2023 by class of financing receivable.
March 31, 2024Nonaccrual
with no
related
allowance		Nonaccrual
with
related
allowance		Related
allowance
Commercial and industrial$14,465 $10,178 $3,946 
Construction3,152 1,925 293 
Residential real estate:
1-to-4 family mortgage3,336 5,489 167 
Residential line of credit812 300 5 
Multi-family mortgage— 31 1 
Commercial real estate:
Owner occupied1,935 1,134 145 
Non-owner occupied3,219 31 1 
Consumer and other— 8,885 463 
Total$26,919 $27,973 $5,021 
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 months ended March 31, 2024 and 2023:
Three Months Ended March 31,
20242023
Commercial and industrial$224 $20 
Construction61 6 
Residential real estate:
1-to-4 family mortgage— 79 
Residential line of credit16 24 
Multi-family mortgage— 1 
Commercial real estate:
Owner occupied49 58 
Non-owner occupied35 82 
Consumer and other— 173 
Total$385 $443 
Accrued interest receivable written off as an adjustment to interest income amounted to $201 and $181 for the three months ended March 31, 2024 and 2023, respectively.
Loan Modifications to Borrowers Experiencing Financial Difficulty
Occasionally, the Company may make certain modifications of loans to borrowers experiencing financial difficulty. These modifications may be in the form of an interest rate reduction, a term extension, principal forgiveness, payment deferral or a combination thereof. Upon the Company's determination that a modified loan has subsequently been deemed uncollectible, the portion of the loan deemed uncollectible is charged off against the allowance for credit losses on loans HFI. The Company closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts.
There were no modifications of loans to borrowers experiencing financial difficulty during the three months ended March 31, 2023.
The following table presents the amortized cost of FDM loans as of March 31, 2024 by class of financing receivable and type of concession granted that were modified during the three months ended March 31, 2024.
Term extensionPayment deferral and term extensionTotal% of total class of financing receivables
Construction$— $14,316 $14,316 1.1 %
Commercial real estate:
Non-owner occupied10,351 — 10,351 0.5 %
Consumer and other22 — 22 — %
     Total$10,373 $14,316 $24,689 0.3 %
No financing receivables that were modified in the prior twelve months had a payment default during the three months ended March 31, 2024. Defaults are defined as the earlier of the FDM being placed on non-accrual status or reaching 90 days past due with respect to principal and/or interest payments. As of March 31, 2024, there were no commitments to lend a material amount of additional funds to any borrower whose loan was classified as a FDM.
The following tables describe the financial effect of the modifications made to borrowers experiencing financial difficultly:
Three Months Ended
March 31, 2024		Weighted average term extension
(in months)		Weighted average payment deferral
(in months)
Construction63
Commercial real estate:
Non-owner occupied6—
Consumer and other42—
The Company closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The table below depicts the performance of loans held for investment as of March 31, 2024 made to borrowers experiencing financial difficulty that were modified in the prior twelve months.
March 31, 202430-89 days
past due and accruing
interest		90 days or 
more and accruing
interest
Nonaccrual
loans(1)
Loans current
on payments
and accruing
interest 		Total
Commercial and industrial$— $— $179 $— $179 
Construction— — — 14,316 14,316 
Residential real estate:
1-to-4 family mortgage— — 65 — 65 
Commercial real estate:
Non-owner occupied— — — 10,351 10,351 
Consumer and other— — — 22 22 
Total$— $— $244 $24,689 $24,933 
1) Loans were on non-accrual when modified and subsequently classified as FDM.
Collateral-Dependent Loans
For loans for which the repayment (based on the Company's assessment) is expected to be provided substantially through the operation or sale of collateral and the borrower is 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.
March 31, 2024
Type of Collateral
Real EstateFarmlandBusiness AssetsTotalIndividually assessed allowance for credit loss
Commercial and industrial$86 $363 $23,660 $24,109 $3,883 
Construction24,744 1,653 — 26,397 265 
Residential real estate:
1-to-4 family mortgage3,893 — — 3,893 58 
Residential line of credit1,384 — — 1,384 12 
Multi-family mortgage— — — — — 
Commercial real estate:
Owner occupied1,969 7,478 9,447 131 
Non-owner occupied14,731 — — 14,731 — 
Total$46,807 $9,494 $23,660 $79,961 $4,349 
December 31, 2023
Type of Collateral
Real EstateFarmlandBusiness AssetsTotalIndividually assessed allowance for credit loss
Commercial and industrial$— $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 persistent high inflation on economic growth, potential negative economic forecasts, and other considerations. The increase in the allowance for credit losses on loans HFI as of March 31, 2024 compared with December 31, 2023 is primarily the result of expected deterioration in the CRE portfolio which was adjusted upward qualitatively to address risks not captured by the 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 March 31, 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 months ended March 31, 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 March 31, 2024
Beginning balance -
December 31, 2023
$19,599 $35,372 $26,505 $9,468 $8,842 $10,653 $22,965 $16,922 $150,326 
(Reversal of) provision for
    credit losses on loans
    HFI		(2,298)2,028 (433)470 131 56 984 914 1,852 
Recoveries of loans
previously charged-off
14 — 56 — — 40 — 306 416 
Loans charged off(43)(92)— (20)— — — (772)(927)
Ending balance -
March 31, 2024
$17,272 $37,308 $26,128 $9,918 $8,973 $10,749 $23,949 $17,370 $151,667 
 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 March 31, 2023 
Beginning balance -
December 31, 2022
$11,106 $39,808 $26,141 $7,494 $6,490 $7,783 $21,916 $13,454 $134,192 
(Reversal of) provision for
    credit losses on loans
    HFI		(10)1,217 1,073 1,540 129 103 (48)993 4,997 
Recoveries of loans
previously charged-off
67 — 15 — — 66 — 239 387 
Loans charged off(46)— (16)— — — — (705)(767)
Ending balance -
March 31, 2023		$11,117 $41,025 $27,213 $9,034 $6,619 $7,952 $21,868 $13,981 $138,809 
v3.24.1.u1
Other Real Estate Owned
 3 Months Ended
Mar. 31, 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 months ended March 31, 2024 and 2023: 
Three Months Ended March 31,
 20242023
Balance at beginning of period$3,192 $5,794 
Transfers from loans753 235 
Proceeds from sale of other real estate owned(389)(2,031)
Gain on sale of other real estate owned57 87 
Balance at end of period$3,613 $4,085 
Included within the other real estate owned balance above, foreclosed residential real estate properties totaled $2,344 and $2,414 as of March 31, 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 $4,330 and $3,377 as of March 31, 2024 and December 31, 2023, respectively.
v3.24.1.u1
Leases
 3 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Leases Leases
As of March 31, 2024, the Company was the lessee in 48 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 March 31, 2024 and December 31, 2023:
March 31,December 31,
Classification20242023
Right-of-use assets:
Operating leasesOperating lease right-of-use assets$51,421$54,295
Finance leasesPremises and equipment, net1,2281,256
Total right-of-use assets$52,649$55,551
Lease liabilities:
Operating leasesOperating lease liabilities$64,562$67,643
Finance leasesBorrowings 1,3021,326
Total lease liabilities $65,864$68,969
Weighted average remaining lease term (in years) -
    operating		11.511.6
Weighted average remaining lease term (in years) -
    finance		11.111.4
Weighted average discount rate - operating3.40 %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 Ended March 31,
Classification2024 2023 
Operating lease costs:
Amortization of right-of-use assetOccupancy and equipment$1,927 $1,815 
Short-term lease costOccupancy and equipment97 121 
Variable lease costOccupancy and equipment336 298 
Gain on lease modifications and
    terminations
Occupancy and equipment— (72)
Finance lease costs:
Interest on lease liabilitiesInterest expense on borrowings6 6 
Amortization of right-of-use assetOccupancy and equipment28 28 
Sublease income Occupancy and equipment(172)(281)
Total lease cost$2,222 $1,915 
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 undiscounted cash flows to lease liabilities as of March 31, 2024 is as follows:
OperatingFinance
Leases Lease
Lease payments due:
March 31, 2025$6,358 $90 
March 31, 20268,454 121 
March 31, 20278,314 123 
March 31, 20287,864 125 
March 31, 20296,939 127 
Thereafter44,094 850 
     Total undiscounted future minimum lease payments82,023 1,436 
Less: imputed interest(17,461)(134)
     Lease liabilities$64,562 $1,302 
Leases Leases
As of March 31, 2024, the Company was the lessee in 48 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 March 31, 2024 and December 31, 2023:
March 31,December 31,
Classification20242023
Right-of-use assets:
Operating leasesOperating lease right-of-use assets$51,421$54,295
Finance leasesPremises and equipment, net1,2281,256
Total right-of-use assets$52,649$55,551
Lease liabilities:
Operating leasesOperating lease liabilities$64,562$67,643
Finance leasesBorrowings 1,3021,326
Total lease liabilities $65,864$68,969
Weighted average remaining lease term (in years) -
    operating		11.511.6
Weighted average remaining lease term (in years) -
    finance		11.111.4
Weighted average discount rate - operating3.40 %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 Ended March 31,
Classification2024 2023 
Operating lease costs:
Amortization of right-of-use assetOccupancy and equipment$1,927 $1,815 
Short-term lease costOccupancy and equipment97 121 
Variable lease costOccupancy and equipment336 298 
Gain on lease modifications and
    terminations
Occupancy and equipment— (72)
Finance lease costs:
Interest on lease liabilitiesInterest expense on borrowings6 6 
Amortization of right-of-use assetOccupancy and equipment28 28 
Sublease income Occupancy and equipment(172)(281)
Total lease cost$2,222 $1,915 
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 undiscounted cash flows to lease liabilities as of March 31, 2024 is as follows:
OperatingFinance
Leases Lease
Lease payments due:
March 31, 2025$6,358 $90 
March 31, 20268,454 121 
March 31, 20278,314 123 
March 31, 20287,864 125 
March 31, 20296,939 127 
Thereafter44,094 850 
     Total undiscounted future minimum lease payments82,023 1,436 
Less: imputed interest(17,461)(134)
     Lease liabilities$64,562 $1,302 
v3.24.1.u1
Mortgage Servicing Rights
 3 Months Ended
Mar. 31, 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 months ended March 31, 2024 and 2023:
 Three Months Ended March 31,
 2024 2023 
Carrying value at beginning of period$164,249 $168,365 
Capitalization1,131 1,788 
Change in fair value:
    Due to payoffs/paydowns
(2,724)(2,520)
    Due to change in valuation inputs or assumptions3,018 (2,754)
        Carrying value at end of period$165,674 $164,879 
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 months ended March 31, 2024 and 2023: 
 Three Months Ended March 31,
 2024 2023 
   Servicing income$7,347 $7,768 
   Change in fair value of mortgage servicing rights294 (5,274)
   Change in fair value of derivative hedging instruments(3,335)1,867 
Servicing income
4,306 4,361 
Servicing expenses1,947 1,883 
          Net servicing income
$2,359 $2,478 
Data and key economic assumptions related to the Company’s mortgage servicing rights as of March 31, 2024 and December 31, 2023 are as follows: 
 March 31,December 31,
 20242023
Unpaid principal balance of mortgage loans sold and serviced for others$10,651,075 $10,762,906 
Weighted-average prepayment speed (CPR)6.06 %6.19 %
Estimated impact on fair value of a 10% increase$(4,383)$(4,616)
Estimated impact on fair value of a 20% increase$(8,490)$(8,924)
Discount rate10.2 %9.62 %
Estimated impact on fair value of a 100 bp increase$(7,633)$(7,637)
Estimated impact on fair value of a 200 bp increase$(14,617)$(14,624)
Weighted-average coupon interest rate3.50 %3.47 %
Weighted-average servicing fee (basis points)2727
Weighted-average remaining maturity (in months)335334
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 March 31, 2024 and December 31, 2023, mortgage escrow deposits totaled $92,350 and $63,591, respectively.
v3.24.1.u1
Income Taxes
 3 Months Ended
Mar. 31, 2024
Income Tax Disclosure [Abstract]  
Income Taxes Income taxes
The following table presents a reconciliation of income taxes for the three months ended March 31, 2024 and 2023:
 Three Months Ended March 31,
 2024 2023 
Federal taxes calculated at statutory rate$7,192 21.0 %$9,676 21.0 %
  Increase (decrease) resulting from:
State taxes, net of federal benefit133 0.4 %251 0.6 %
Expense from equity based compensation55 0.2 %115 0.3 %
Municipal interest income, net of interest
  disallowance		(373)(1.1)%(456)(1.0)%
Bank-owned life insurance(90)(0.3)%(127)(0.3)%
Section 162(m) limitation160 0.5 %127 0.2 %
Other(777)(2.3)%111 0.2 %
Income tax expense, as reported$6,300 18.4 %$9,697 21.0 %
v3.24.1.u1
Commitments and Contingencies
 3 Months Ended
Mar. 31, 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.
March 31,December 31,
 2024 2023 
Commitments to extend credit, excluding interest rate lock commitments$2,771,611 $2,906,016 
Letters of credit85,487 77,055 
Balance at end of period$2,857,098 $2,983,071 
As of March 31, 2024 and December 31, 2023, unfunded loan commitments included above with floating interest rates totaled $2,388,134 and $2,459,669, respectively.
As part of its 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 March 31,
2024 2023 
Balance at beginning of period$8,770 $22,969 
Reversal of credit losses on unfunded commitments(1,070)(4,506)
Balance at end of period$7,700 $18,463 
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, the investors require the Company to repurchase loans sold to
them under the terms of the warranties. When this happens, the loans are recorded at fair value in loans held for investment. The total principal amount of loans repurchased (or indemnified for) was $2,078 and $3,326 for three months ended March 31, 2024 and 2023, respectively. The Company has established a reserve associated with potential loan repurchases.
The following table summarizes the activity in the repurchase reserve included in accrued expenses and other liabilities on the Company's consolidated balance sheets:
Three Months Ended March 31,
 2024 2023 
Balance at beginning of period$899 $1,621 
Provision for (reversal of) loan repurchases or indemnifications50 (250)
Losses on loans repurchased or indemnified(19)(13)
Balance at end of period$930 $1,358 
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.
v3.24.1.u1
Derivatives
 3 Months Ended
Mar. 31, 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 March 31, 2024, the Company did not have any interest rate swaps that were designated as fair value hedges. 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.
During the three months ended March 31, 2024, the Company terminated interest rate swaps that were designated as fair value hedges on fixed rate money market deposits and the interest rate swaps covering subordinated debt 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 will be amortized into interest expense over the respective contract terms of the original hedges. For the matured swap, the notional value totaled $100,000 prior to maturity. The swap involved the receipt of fixed rate amounts from a counterparty in exchange for the Company making variable rate payments over the life of the agreement.
The following discloses the amount of expense included in interest expense on deposits and borrowings, related to the Company's fair value hedging instruments:
Three Months Ended March 31,
20242023
Designated fair value hedge:
     Interest expense on deposits$— $(1,508)
     Interest expense on borrowings(645)(760)
       Total$(645)$(2,268)

During the three months ended March 31, 2024, amortization expense totaling $1,843 related to the terminated fair value hedges was recognized as an increase to interest expense on deposits. As of March 31, 2024, the remaining fair value adjustment related to the terminated fair value hedges of $(2,745) is 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.
The following presents a summary of the Company's designated cash flow hedges as of the dates presented:
March 31, 2024December 31, 2023
Notional AmountEstimated fair valueBalance sheet locationEstimated fair valueBalance sheet location
Interest rate swap agreements-
   subordinated debt		$30,000 $343 Other assets$579 Other assets
The Company's consolidated statements of income included income of $247 and $197 for the three months ended March 31, 2024 and 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 loss, net of tax, for derivative instruments designated as cash flow hedges for the periods presented:
Three Months Ended March 31,
20242023
Amount of loss recognized in other comprehensive loss, net of tax benefit of $62 and $70
$(174)$(197)
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 and forward 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:
March 31, 2024
Notional AmountAssetLiability
  Interest rate contracts$551,095 $35,925 $35,954 
  Forward commitments226,500 — 261 
  Interest rate-lock commitments130,315 2,073 — 
  Futures contracts235,500 — 189 
    Total$1,143,410 $37,998 $36,404 
 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 March 31,
 2024 2023 
Included in mortgage banking income:
  Interest rate lock commitments$869 $1,207 
  Forward commitments100 (295)
  Futures contracts(2,997)1,937 
  Option contracts— (664)
    Total$(2,028)$2,185 
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
March 31, 2024
Derivative financial assets$36,145 $— $36,145 $123 $— $36,022 
Derivative financial liabilities$5,386 $— $5,386 $123 $5,263 $— 
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 March 31, 2024 and December 31, 2023, the Company had collateral posted of $13,585 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.
v3.24.1.u1
Fair Value of Financial Instruments
 3 Months Ended
Mar. 31, 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. GNMA optional repurchase loans recorded as held for sale loans are carried at their principal balance. For commercial loans held for sale, fair value is determined using an income approach with various assumptions including expected cash flows, market discount rates, credit metrics and collateral value when appropriate. As such, these are considered Level 3.
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 March 31, 2024 and December 31, 2023 are presented in the following tables:
At March 31, 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:     
Available-for-sale securities:    
U.S. government agency securities$— $415,927 $— $415,927 
Mortgage-backed securities - residential— 826,214 — 826,214 
Mortgage-backed securities - commercial— 16,615 — 16,615 
Municipal securities— 171,672 — 171,672 
U.S. Treasury securities— 30,857 — 30,857 
Corporate securities— 3,397 — 3,397 
Total securities$— $1,464,682 $— $1,464,682 
Loans held for sale, at fair value$— $61,828 $— $61,828 
Mortgage servicing rights— — 165,674 165,674 
Derivatives— 38,341 — 38,341 
Financial Liabilities:
Derivatives— 36,404 — 36,404 
At December 31, 2023Quoted prices
in active
markets for
identical assets
(liabilities)
(level 1)		Significant
other
observable
inputs
(level 2) 		Significant unobservable
inputs
(level 3) 		Total
Recurring valuations:    
Financial assets:     
Available-for-sale securities:    
U.S. government agency securities$— $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 $— $46,618 
Mortgage servicing rights— — 164,249 164,249 
Derivatives— 34,738 — 34,738 
Financial Liabilities:
Derivatives— 38,215 — 38,215 
The balances and levels of the assets measured at fair value on a nonrecurring basis as of March 31, 2024 and December 31, 2023 are presented in the following tables: 
At March 31, 2024Quoted prices
in active
markets for
identical assets
(liabilities
(level 1)		Significant
other
observable
inputs
(level 2) 		Significant unobservable
inputs
(level 3) 		Total
Nonrecurring valuations:    
Financial assets:    
Other real estate owned$— $— $644 $644 
Collateral-dependent net loans held for
   investment:
Commercial and industrial— — 5,303 5,303 
Construction— — 1,288 1,288 
Residential real estate:
1-4 family mortgage— — 499 499 
Residential line of credit— — 561 561 
Commercial real estate:
Owner occupied— — 752 752 
Total collateral-dependent loans$— $— $8,403 $8,403 
 
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 
Commercial loans held for sale
Historically, the Company had a portfolio of acquired commercial loans. There were no such loans outstanding as of March 31, 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 months ended March 31, 2023:
Three Months Ended March 31, 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(21,890)— (21,890)
   Changes in valuation included in other noninterest income— 910 910 
      Carrying value at end of period$12,467 $(2,957)$9,510 
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 months ended March 31, 2024 and 2023 are detailed at Note 6, “Mortgage servicing rights.”
The following tables present information as of March 31, 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:
March 31, 2024
Financial instrumentFair ValueValuation techniqueSignificant 
unobservable inputs		Range of
inputs
Collateral-dependent net loans
   held for investment		$8,403 Valuation of collateralDiscount for comparable sales
9%-58%
Other real estate owned$644 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 appraisals performed by qualified appraisers and reviewed by qualified personnel. Fair value of the loan's collateral is determined by third-party appraisals, which are then adjusted for estimated selling and closing costs related to liquidation of the collateral. 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 March 31, 2024 and December 31, 2023, total amortized cost of collateral-dependent loans measured on a nonrecurring basis amounted to $12,754 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:
March 31,December 31,
20242023
Loans held for sale under a fair value option:
  Mortgage loans held for sale61,828 46,618 
Loans held for sale not accounted for under a fair value option:
  Mortgage loans held for sale - guaranteed GNMA repurchase option20,876 21,229 
               Total loans held for sale$82,704 $67,847 
Mortgage loans held for sale
Net gain of $203 and net loss of $51 resulting from fair value changes of mortgage loans held for sale were recorded in income during the three months ended March 31, 2024 and 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 net gain of $1,821 and net loss of $421 for the three months ended March 31, 2024 and 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 March 31, 2024 and December 31, 2023: 
March 31,December 31,
20242023
Aggregate fair value$61,828 $46,618 
Aggregate unpaid principal balance60,516 45,509 
     Difference$1,312 $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
March 31, 2024Carrying amount Level 1Level 2Level 3Total
Financial assets:     
Cash and cash equivalents$870,730 $870,730 $— $— $870,730 
Investment securities1,464,682 — 1,464,682 — 1,464,682 
Net loans held for investment9,137,242 — — 8,809,892 8,809,892 
Loans held for sale, at fair value61,828 — 61,828 — 61,828 
Interest receivable53,506 892 6,774 45,840 53,506 
Mortgage servicing rights165,674 — — 165,674 165,674 
Derivatives38,341 — 38,341 — 38,341 
Financial liabilities: 
Deposits: 
Without stated maturities$8,902,546 $8,902,546 $— $— $8,902,546 
With stated maturities1,602,382 — 1,594,332 — 1,594,332 
Securities sold under agreements to
repurchase and federal funds purchased
78,229 78,229 — — 78,229 
Bank Term Funding Program 130,000 — 129,462 — 129,462 
Subordinated debt, net130,414 — — 123,284 123,284 
Interest payable20,504 4,187 15,942 375 20,504 
Derivatives36,404 — 36,404 — 36,404 
 
 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 
v3.24.1.u1
Segment Reporting
 3 Months Ended
Mar. 31, 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. 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 months ended March 31, 2024 and 2023.
Three Months Ended March 31, 2024BankingMortgageConsolidated
Net interest income$97,094 $2,396 $99,490 
Provisions for (reversal of) credit losses 838 (56)782 
Mortgage banking income— 15,626 15,626 
Change in fair value of mortgage servicing rights, net of hedging(1)
— (3,041)(3,041)
Other noninterest (loss) income(4,794)171 (4,623)
Depreciation and amortization2,708 133 2,841 
Amortization of intangibles789 — 789 
Other noninterest expense56,847 11,943 68,790 
Income before income taxes$31,118 $3,132 $34,250 
Income tax expense6,300 
Net income applicable to FB Financial Corporation and noncontrolling
interest
27,950 
Net income applicable to noncontrolling interest— 
Net income applicable to FB Financial Corporation$27,950 
Total assets$11,979,904 $568,416 $12,548,320 
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 March 31, 2023BankingMortgageConsolidated
Net interest income$101,287 $2,373 $103,660 
Provisions for credit losses 212 279 491 
Mortgage banking income— 15,493 15,493 
Change in fair value of mortgage servicing rights, net of hedging(1)
— (3,407)(3,407)
Other noninterest income (loss)11,493 (230)11,263 
Depreciation and amortization2,049 179 2,228 
Amortization of intangibles990 — 990 
Other noninterest expense63,713 13,509 77,222 
Income before income taxes$45,816 $262 $46,078 
Income tax expense9,697 
Net income applicable to FB Financial Corporation and noncontrolling
interest
36,381 
Net income applicable to noncontrolling interest— 
Net income applicable to FB Financial Corporation$36,381 
Total assets$12,534,348 $566,799 $13,101,147 
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.
v3.24.1.u1
Minimum Capital Requirements
 3 Months Ended
Mar. 31, 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 March 31, 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. As of January 1, 2022, the cumulative amount of the transition adjustments became fixed and are being phased out of regulatory capital calculations evenly over a three-year period, with 75% of the transition provision’s impact being recognized in 2022, 50% recognized in 2023, and 25% recognized in 2024.
Actual and required capital amounts and ratios are included below as of the dates indicated.

March 31, 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$1,657,500 15.0 %$1,161,748 10.5 %N/AN/A
FirstBank1,622,562 14.7 %1,159,716 10.5 %$1,104,491 10.0 %
Tier 1 Capital (to risk-weighted assets)
FB Financial Corporation$1,419,546 12.8 %$940,462 8.5 %N/AN/A
FirstBank1,384,847 12.5 %938,818 8.5 %$883,593 8.0 %
Tier 1 Capital (to average assets)
FB Financial Corporation$1,419,546 11.3 %$500,450 4.0 %N/AN/A
FirstBank1,384,847 11.1 %499,885 4.0 %$624,857 5.0 %
Common Equity Tier 1 Capital
(to risk-weighted assets)
FB Financial Corporation$1,389,546 12.6 %$774,498 7.0 %N/AN/A
FirstBank1,384,847 12.5 %773,144 7.0 %$717,919 6.5 %
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 %
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 %
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 %
v3.24.1.u1
Stock-Based Compensation
 3 Months Ended
Mar. 31, 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 three months ended March 31, 2024:
 Restricted Stock
Units
Outstanding		Weighted
Average Grant
Date
Fair Value
Balance at beginning of period (unvested)323,520 $37.52 
Granted155,047 35.60 
Vested(18,777)35.55 
Forfeited(853)40.19 
Balance at end of period (unvested)458,937 $36.95 
The total fair value of RSUs vested was $668 and $4,591 for the three months ended March 31, 2024 and 2023, respectively. The compensation cost related to the grants and vesting of RSUs was $2,706 and $1,706 for the three months ended March 31, 2024 and 2023, respectively. This includes amounts paid related to grants and compensation for directors elected to be settled in stock amounting to $199 and $175 for the three months ended March 31, 2024 and 2023, respectively.
As of March 31, 2024, there was $10,614 of total unrecognized compensation cost related to unvested RSUs which is expected to be recognized over a weighted-average period of 2.24 years. Additionally, as of March 31, 2024, there were 1,459,258 shares available for issuance under the Company's stock compensation plans. As of March 31, 2024 and December 31, 2023, there was $410 and $353, 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 non-GAAP core return on average tangible common equity over the performance period relative to a predefined peer group.     
Beginning with awards issued during the first quarter of 2024, 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 three months ended March 31, 2024:
Performance Stock
Units
Outstanding		Weighted
Average Grant
Date
Fair Value
Balance at beginning of period (unvested)176,163 $40.86 
Granted97,738 35.60 
Performance adjustment (1)
(12,356)43.20 
Vested(34,915)43.20 
Forfeited or expired(969)40.00 
Balance at end of period (unvested)225,661 $38.09 
(1) PSUs are presented as outstanding, granted and forfeited in the table above assuming targets are met and the awards pay out at 100%. PSU
    awards are settled with payouts ranging from 0% and 200% of the target award value based on the Company's performance relative to a predefined
    peer group over a fixed three-year performance period. 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 March 31, 2024:
Grant Year(1)
Grant PricePerformance PeriodPSUs Outstanding
2022$44.44 2022 to 202449,836
2023$37.17 2023 to 202578,087
2024$35.60 2024 to 202697,738
(1)Vesting factor will be interpolated between 0% and 200% of PSUs outstanding based on the Company's performance relative to a predefined peer
    group over a fixed three-year performance period.
The Company recorded compensation cost associated with PSUs of $114 and $579 for the three months ended March 31, 2024 and 2023, respectively. As of March 31, 2024, maximum unrecognized compensation cost at 200% payout related to the unvested PSUs was $14,786, and the weighted average remaining performance period over which the cost could be recognized was 2.39 years.
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 10,606 and 8,214 shares of common stock issued under the ESPP with proceeds from employee payroll withholdings of $388 and $305 during the three months ended March 31, 2024 and 2023, respectively. As of March 31, 2024, there were 2,283,620 shares available for issuance under the ESPP.
v3.24.1.u1
Related Party Transactions
 3 Months Ended
Mar. 31, 2024
Related Party Transactions [Abstract]  
Related Party Transactions Related party transactions
Loans
The Bank has made and expects to continue to make loans to the directors, certain management, significant shareholders, and executive officers of the Company and their related interests in the ordinary course of business, in compliance with regulatory requirements.
An analysis of loans to executive officers, certain management, significant shareholders and directors of the Bank and their related interests is presented below:
Loans outstanding at January 1, 2024$49,073 
New loans and advances1,894 
Change in related party status— 
Repayments(1,474)
Loans outstanding at March 31, 2024$49,493 
Unfunded commitments to certain executive officers, certain management and directors and their related interests totaled $54,212 and $44,206 at March 31, 2024 and December 31, 2023, respectively.
Deposits
The Bank held deposits from related parties totaling $338,935 and $316,141 as of March 31, 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 $90 for both the three months ended March 31, 2024 and 2023.
Aviation lease
Through a wholly-owned subsidiary, FBK Aviation, LLC, the Company owns and maintains an aircraft. FBK Aviation, LLC maintains a non-exclusive aircraft lease with an entity owned by one of the Company's directors. The Company recognized income of $24 and $7 during the three months ended March 31, 2024 and 2023, respectively, under this agreement.
Subsequent to March 31, 2024, the Company renegotiated the lease agreement with the existing director and executed a non-exclusive aircraft lease with an entity owned by another one of the Company's directors.
Equity investment in preferred stock and master loan purchase agreement
During the year ended December 31, 2022, the Company invested in preferred stock of a privately held entity of which an executive officer of the Company is on the Board of directors of the investee. This investment is included in other assets on the consolidated balance sheets with a carrying amount of $10,000 as of both March 31, 2024 and December 31, 2023, and is being accounted for as an equity security without readily determinable market value. No gains or losses have been recognized to date associated with this investment.
Concurrently, the Company also entered a separate master loan purchase agreement with the entity to purchase up to $250,000 in manufactured loan housing production over an initial five-year term. During the three months ended March 31, 2024, the Company purchased $9,225 of loans HFI under this agreement. No such loans were purchased during the three months ended March 31, 2023. As of March 31, 2024 and December 31, 2023, the amortized cost of these loans HFI amounted to $41,048 and $32,154, respectively.
v3.24.1.u1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Pay vs Performance Disclosure    
Net Income (Loss) $ 27,950 $ 36,381
v3.24.1.u1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 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
v3.24.1.u1
Basis of Presentation (Policies)
 3 Months Ended
Mar. 31, 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 share
Earnings per share
Basic EPS 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 EPS includes the dilutive effect of additional potential common shares issuable under the restricted stock units granted but not yet vested and distributable. Diluted EPS 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 EPS. Accordingly, the Company is required to calculate basic and diluted EPS using the two-class method. Calculations of EPS under the two-class method (i) exclude from the numerator any dividends paid or owed on participating securities and any undistributed earnings considered to be attributable to participating securities and (ii) exclude 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. The Company is evaluating the impact this will have on the Company's consolidated financial statements and related 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 currently evaluating the effect that ASU 2023-09 will have on its 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 March 31, 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 are 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. GNMA optional repurchase loans recorded as held for sale loans are carried at their principal balance. For commercial loans held for sale, fair value is determined using an income approach with various assumptions including expected cash flows, market discount rates, credit metrics and collateral value when appropriate. As such, these are considered Level 3.
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.
Fair value of the loan's collateral is determined by third-party appraisals, which are then adjusted for estimated selling and closing costs related to liquidation of the collateral. 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 March 31, 2024 and December 31, 2023, total amortized cost of collateral-dependent loans measured on a nonrecurring basis amounted to $12,754 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.
v3.24.1.u1
Basis of Presentation (Tables)
 3 Months Ended
Mar. 31, 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 March 31,
 20242023
Basic earnings per common share:
Net income applicable to FB Financial Corporation$27,950 $36,381 
Dividends paid on and undistributed earnings allocated to participating securities— — 
Earnings available to common shareholders$27,950 $36,381 
Weighted average basic shares outstanding46,874,882 46,679,618 
Basic earnings per common share$0.60 $0.78 
Diluted earnings per common share:
Earnings available to common shareholders$27,950 $36,381 
Weighted average basic shares outstanding46,874,882 46,679,618 
Weighted average diluted shares contingently issuable(1)
123,991 85,536 
Weighted average diluted shares outstanding46,998,873 46,765,154 
Diluted earnings per common share$0.59 $0.78 
(1) Excludes 2,949 and 159,946 restricted stock units outstanding considered to be antidilutive for the three months ended March 31, 2024 and 2023
v3.24.1.u1
Investment Securities (Tables)
 3 Months Ended
Mar. 31, 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 at March 31, 2024 and December 31, 2023:  
March 31, 2024
 Amortized cost Gross unrealized gains Gross unrealized losses Allowance for credit losses for investments Fair Value
Investment Securities    
AFS debt securities  
U.S. government agency securities$416,953 $145 $(1,171)$— $415,927 
Mortgage-backed securities - residential984,473 — (158,259)— 826,214 
Mortgage-backed securities - commercial 17,899 — (1,284)— 16,615 
Municipal securities194,470 45 (22,843)— 171,672 
U.S. Treasury securities30,985 — (128)— 30,857 
Corporate securities3,500 — (103)— 3,397 
Total$1,648,280 $190 $(183,788)$— $1,464,682 
December 31, 2023
 Amortized costGross unrealized gains Gross unrealized losses Allowance for credit losses for 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 for which an allowance for credit losses has not been recorded at March 31, 2024 and December 31, 2023, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:
March 31, 2024
 Less than 12 months12 months or moreTotal
 Fair ValueGross Unrealized Loss Fair ValueGross Unrealized LossFair ValueGross Unrealized Loss
U.S. government agency securities$203,870 $(484)$7,251 $(687)$211,121 $(1,171)
Mortgage-backed securities - residential— — 776,208 (158,259)776,208 (158,259)
Mortgage-backed securities - commercial— — 16,615 (1,284)16,615 (1,284)
Municipal securities9,131 (41)155,959 (22,802)165,090 (22,843)
U.S. Treasury securities— — 30,857 (128)30,857 (128)
Corporate securities— — 3,397 (103)3,397 (103)
Total$213,001 $(525)$990,287 $(183,263)$1,203,288 $(183,788)
 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
March 31,December 31,
 2024 2023 
 Available-for-saleAvailable-for-sale
 Amortized costFair valueAmortized costFair value
Due in one year or less$34,073 $33,910 $64,776 $64,279 
Due in one to five years10,851 10,080 75,996 71,801 
Due in five to ten years40,939 39,932 51,162 49,630 
Due in over ten years560,045 537,931 391,270 372,331 
645,908 621,853 583,204 558,041 
Mortgage-backed securities - residential984,473 826,214 1,057,389 896,971 
Mortgage-backed securities - commercial17,899 16,615 18,186 16,961 
Total AFS debt securities$1,648,280 $1,464,682 $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 March 31,
 2024 2023 
Proceeds from sales$207,882 $— 
Proceeds from maturities, prepayments and calls66,627 26,827 
Gross realized gains90 — 
Gross realized losses16,303 — 
v3.24.1.u1
Loans and Allowance for Credit Losses on Loans HFI (Tables)
 3 Months Ended
Mar. 31, 2024
Receivables [Abstract]  
Schedule of Loans Outstanding by Class of Financing Receivable
Loans outstanding as of March 31, 2024 and December 31, 2023, by class of financing receivable are as follows:
 March 31,December 31,
 2024 2023 
Commercial and industrial$1,621,611 $1,720,733 
Construction1,268,883 1,397,313 
Residential real estate:
1-to-4 family mortgage1,577,824 1,568,552 
Residential line of credit549,306 530,912 
Multi-family mortgage615,081 603,804 
Commercial real estate:
Owner-occupied1,236,007 1,232,071 
Non-owner occupied1,991,526 1,943,525 
Consumer and other428,671 411,873 
Gross loans9,288,909 9,408,783 
Less: Allowance for credit losses on loans HFI(151,667)(150,326)
Net loans$9,137,242 $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 March 31, 2024 and December 31, 2023 and the gross charge-offs for the three months ended March 31, 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 three months
    ended March 31, 2024
2024 2023 2022 2021 2020 PriorRevolving Loans Amortized Cost BasisTotal
Commercial and industrial
Pass$16,449 $202,050 $237,139 $72,725 $36,876 $129,057 $864,065 $1,558,361 
Special Mention— 3,675 17,572 2,913 — 247 4,521 28,928 
Classified— 457 4,328 3,017 2,987 6,350 17,183 34,322 
Total16,449 206,182 259,039 78,655 39,863 135,654 885,769 1,621,611 
            Current-period gross
               charge-offs		— — — 14 — 7 22 43 
Construction
Pass39,360 193,203 551,909 124,878 36,531 86,713 187,955 1,220,549 
Special Mention— 711 4,689 2,508 — 657 12,000 20,565 
Classified— — 3,986 2,590 6,877 — 14,316 27,769 
Total39,360 193,914 560,584 129,976 43,408 87,370 214,271 1,268,883 
            Current-period gross
               charge-offs		— — — — — — 92 92 
Residential real estate:
Multi-family mortgage
Pass— 29,861 193,591 244,770 54,744 68,104 22,953 614,023 
Special Mention— — — — — — — — 
Classified— — — — — 1,058 — 1,058 
Total— 29,861 193,591 244,770 54,744 69,162 22,953 615,081 
             Current-period gross
                charge-offs		— — — — — — — — 
Commercial real estate:
Owner occupied
Pass24,636 112,168 253,377 231,354 113,481 428,182 53,516 1,216,714 
Special Mention— — 1,283 1,811 — 2,547 — 5,641 
Classified— — 6,281 16 65 6,228 1,062 13,652 
Total24,636 112,168 260,941 233,181 113,546 436,957 54,578 1,236,007 
            Current-period gross
              charge-offs		— — — — — — — — 
Non-owner occupied
Pass3,755 45,516 533,649 468,553 122,699 750,943 43,090 1,968,205 
Special Mention— — — 3,966 — 83 — 4,049 
Classified— — — 998 — 18,274 — 19,272 
Total3,755 45,516 533,649 473,517 122,699 769,300 43,090 1,991,526 
             Current-period gross
                charge-offs		— — — — — — — — 
Total commercial loan types
Pass84,200 582,798 1,769,665 1,142,280 364,331 1,462,999 1,171,579 6,577,852 
Special Mention— 4,386 23,544 11,198 — 3,534 16,521 59,183 
Classified— 457 14,595 6,621 9,929 31,910 32,561 96,073 
Total$84,200 $587,641 $1,807,804 $1,160,099 $374,260 $1,498,443 $1,220,661 $6,733,108 
            Current-period gross
                charge-offs		$— $— $— $14 $— $7 $114 $135 
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 March 31, 2024 and December 31, 2023 and the gross charge-offs for the three months ended March 31, 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 three months
     ended March 31, 2024
2024 2023 2022 2021 2020 PriorRevolving Loans Amortized Cost BasisTotal
Residential real estate:
1-to-4 family mortgage
Performing$43,291 $187,203 $492,643 $393,806 $143,618 $298,828 $— $1,559,389 
Nonperforming— 325 5,027 3,237 4,421 5,425 — 18,435 
Total43,291 187,528 497,670 397,043 148,039 304,253 — 1,577,824 
          Current-period gross
             charge-offs		— — — — — — — — 
Residential line of credit
Performing— — — — — — 547,097 547,097 
Nonperforming— — — — — — 2,209 2,209 
Total— — — — — — 549,306 549,306 
          Current-period gross
             charge-offs		— — — — — — 20 20 
Consumer and other
Performing25,887 109,013 87,312 42,673 33,415 114,071 5,849 418,220 
Nonperforming— 561 909 2,293 1,849 4,839 — 10,451 
       Total25,887 109,574 88,221 44,966 35,264 118,910 5,849 428,671 
           Current-period gross
             charge-offs		155 344 31 96 36 110 — 772 
Total consumer type loans
Performing69,178 296,216 579,955 436,479 177,033 412,899 552,946 2,524,706 
Nonperforming— 886 5,936 5,530 6,270 10,264 2,209 31,095 
        Total$69,178 $297,102 $585,891 $442,009 $183,303 $423,163 $555,155 $2,555,801 
            Current-period gross
             charge-offs		$155 $344 $31 $96 $36 $110 $20 $792 
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 March 31, 2024 and December 31, 2023:
March 31, 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$1,606 $— $24,643 $1,595,362 $1,621,611 
Construction1,474 585 5,077 1,261,747 1,268,883 
Residential real estate:
1-to-4 family mortgage17,881 9,610 8,825 1,541,508 1,577,824 
Residential line of credit1,717 1,097 1,112 545,380 549,306 
Multi-family mortgage— — 31 615,050 615,081 
Commercial real estate:
Owner occupied465 — 3,069 1,232,473 1,236,007 
Non-owner occupied3,631 — 3,250 1,984,645 1,991,526 
Consumer and other10,699 1,566 8,885 407,521 428,671 
Total$37,473 $12,858 $54,892 $9,183,686 $9,288,909 
 
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 March 31, 2024 and December 31, 2023 by class of financing receivable.
March 31, 2024Nonaccrual
with no
related
allowance		Nonaccrual
with
related
allowance		Related
allowance
Commercial and industrial$14,465 $10,178 $3,946 
Construction3,152 1,925 293 
Residential real estate:
1-to-4 family mortgage3,336 5,489 167 
Residential line of credit812 300 5 
Multi-family mortgage— 31 1 
Commercial real estate:
Owner occupied1,935 1,134 145 
Non-owner occupied3,219 31 1 
Consumer and other— 8,885 463 
Total$26,919 $27,973 $5,021 
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 months ended March 31, 2024 and 2023:
Three Months Ended March 31,
20242023
Commercial and industrial$224 $20 
Construction61 6 
Residential real estate:
1-to-4 family mortgage— 79 
Residential line of credit16 24 
Multi-family mortgage— 1 
Commercial real estate:
Owner occupied49 58 
Non-owner occupied35 82 
Consumer and other— 173 
Total$385 $443 
Schedule of Individually Assessed Allowance for Credit Losses for Collateral Dependent Loans
For loans for which the repayment (based on the Company's assessment) is expected to be provided substantially through the operation or sale of collateral and the borrower is 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.
March 31, 2024
Type of Collateral
Real EstateFarmlandBusiness AssetsTotalIndividually assessed allowance for credit loss
Commercial and industrial$86 $363 $23,660 $24,109 $3,883 
Construction24,744 1,653 — 26,397 265 
Residential real estate:
1-to-4 family mortgage3,893 — — 3,893 58 
Residential line of credit1,384 — — 1,384 12 
Multi-family mortgage— — — — — 
Commercial real estate:
Owner occupied1,969 7,478 9,447 131 
Non-owner occupied14,731 — — 14,731 — 
Total$46,807 $9,494 $23,660 $79,961 $4,349 
December 31, 2023
Type of Collateral
Real EstateFarmlandBusiness AssetsTotalIndividually assessed allowance for credit loss
Commercial and industrial$— $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 months ended March 31, 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 March 31, 2024
Beginning balance -
December 31, 2023
$19,599 $35,372 $26,505 $9,468 $8,842 $10,653 $22,965 $16,922 $150,326 
(Reversal of) provision for
    credit losses on loans
    HFI		(2,298)2,028 (433)470 131 56 984 914 1,852 
Recoveries of loans
previously charged-off
14 — 56 — — 40 — 306 416 
Loans charged off(43)(92)— (20)— — — (772)(927)
Ending balance -
March 31, 2024
$17,272 $37,308 $26,128 $9,918 $8,973 $10,749 $23,949 $17,370 $151,667 
 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 March 31, 2023 
Beginning balance -
December 31, 2022
$11,106 $39,808 $26,141 $7,494 $6,490 $7,783 $21,916 $13,454 $134,192 
(Reversal of) provision for
    credit losses on loans
    HFI		(10)1,217 1,073 1,540 129 103 (48)993 4,997 
Recoveries of loans
previously charged-off
67 — 15 — — 66 — 239 387 
Loans charged off(46)— (16)— — — — (705)(767)
Ending balance -
March 31, 2023		$11,117 $41,025 $27,213 $9,034 $6,619 $7,952 $21,868 $13,981 $138,809 
Schedule of Financial Effect of TDRs
The following table presents the amortized cost of FDM loans as of March 31, 2024 by class of financing receivable and type of concession granted that were modified during the three months ended March 31, 2024.
Term extensionPayment deferral and term extensionTotal% of total class of financing receivables
Construction$— $14,316 $14,316 1.1 %
Commercial real estate:
Non-owner occupied10,351 — 10,351 0.5 %
Consumer and other22 — 22 — %
     Total$10,373 $14,316 $24,689 0.3 %
The following tables describe the financial effect of the modifications made to borrowers experiencing financial difficultly:
Three Months Ended
March 31, 2024		Weighted average term extension
(in months)		Weighted average payment deferral
(in months)
Construction63
Commercial real estate:
Non-owner occupied6—
Consumer and other42—
Schedule of Financing Receivable, Modified, Past Due The table below depicts the performance of loans held for investment as of March 31, 2024 made to borrowers experiencing financial difficulty that were modified in the prior twelve months.
March 31, 202430-89 days
past due and accruing
interest		90 days or 
more and accruing
interest
Nonaccrual
loans(1)
Loans current
on payments
and accruing
interest 		Total
Commercial and industrial$— $— $179 $— $179 
Construction— — — 14,316 14,316 
Residential real estate:
1-to-4 family mortgage— — 65 — 65 
Commercial real estate:
Non-owner occupied— — — 10,351 10,351 
Consumer and other— — — 22 22 
Total$— $— $244 $24,689 $24,933 
1) Loans were on non-accrual when modified and subsequently classified as FDM.
v3.24.1.u1
Other Real Estate Owned (Tables)
 3 Months Ended
Mar. 31, 2024
Real Estate [Abstract]  
Schedule of Other Real Estate Owned The following table summarizes the other real estate owned for the three months ended March 31, 2024 and 2023: 
Three Months Ended March 31,
 20242023
Balance at beginning of period$3,192 $5,794 
Transfers from loans753 235 
Proceeds from sale of other real estate owned(389)(2,031)
Gain on sale of other real estate owned57 87 
Balance at end of period$3,613 $4,085 
v3.24.1.u1
Leases (Tables)
 3 Months Ended
Mar. 31, 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 March 31, 2024 and December 31, 2023:
March 31,December 31,
Classification20242023
Right-of-use assets:
Operating leasesOperating lease right-of-use assets$51,421$54,295
Finance leasesPremises and equipment, net1,2281,256
Total right-of-use assets$52,649$55,551
Lease liabilities:
Operating leasesOperating lease liabilities$64,562$67,643
Finance leasesBorrowings 1,3021,326
Total lease liabilities $65,864$68,969
Weighted average remaining lease term (in years) -
    operating		11.511.6
Weighted average remaining lease term (in years) -
    finance		11.111.4
Weighted average discount rate - operating3.40 %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 Ended March 31,
Classification2024 2023 
Operating lease costs:
Amortization of right-of-use assetOccupancy and equipment$1,927 $1,815 
Short-term lease costOccupancy and equipment97 121 
Variable lease costOccupancy and equipment336 298 
Gain on lease modifications and
    terminations
Occupancy and equipment— (72)
Finance lease costs:
Interest on lease liabilitiesInterest expense on borrowings6 6 
Amortization of right-of-use assetOccupancy and equipment28 28 
Sublease income Occupancy and equipment(172)(281)
Total lease cost$2,222 $1,915 
Schedule of Maturity Analysis of Operating Lease Liabilities
A maturity analysis of operating and finance lease liabilities and a reconciliation of undiscounted cash flows to lease liabilities as of March 31, 2024 is as follows:
OperatingFinance
Leases Lease
Lease payments due:
March 31, 2025$6,358 $90 
March 31, 20268,454 121 
March 31, 20278,314 123 
March 31, 20287,864 125 
March 31, 20296,939 127 
Thereafter44,094 850 
     Total undiscounted future minimum lease payments82,023 1,436 
Less: imputed interest(17,461)(134)
     Lease liabilities$64,562 $1,302 
Schedule of Maturity of Finance Lease Liabilities
A maturity analysis of operating and finance lease liabilities and a reconciliation of undiscounted cash flows to lease liabilities as of March 31, 2024 is as follows:
OperatingFinance
Leases Lease
Lease payments due:
March 31, 2025$6,358 $90 
March 31, 20268,454 121 
March 31, 20278,314 123 
March 31, 20287,864 125 
March 31, 20296,939 127 
Thereafter44,094 850 
     Total undiscounted future minimum lease payments82,023 1,436 
Less: imputed interest(17,461)(134)
     Lease liabilities$64,562 $1,302 
v3.24.1.u1
Mortgage Servicing Rights (Tables)
 3 Months Ended
Mar. 31, 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 months ended March 31, 2024 and 2023:
 Three Months Ended March 31,
 2024 2023 
Carrying value at beginning of period$164,249 $168,365 
Capitalization1,131 1,788 
Change in fair value:
    Due to payoffs/paydowns
(2,724)(2,520)
    Due to change in valuation inputs or assumptions3,018 (2,754)
        Carrying value at end of period$165,674 $164,879 
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 months ended March 31, 2024 and 2023: 
 Three Months Ended March 31,
 2024 2023 
   Servicing income$7,347 $7,768 
   Change in fair value of mortgage servicing rights294 (5,274)
   Change in fair value of derivative hedging instruments(3,335)1,867 
Servicing income
4,306 4,361 
Servicing expenses1,947 1,883 
          Net servicing income
$2,359 $2,478 
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 March 31, 2024 and December 31, 2023 are as follows: 
 March 31,December 31,
 20242023
Unpaid principal balance of mortgage loans sold and serviced for others$10,651,075 $10,762,906 
Weighted-average prepayment speed (CPR)6.06 %6.19 %
Estimated impact on fair value of a 10% increase$(4,383)$(4,616)
Estimated impact on fair value of a 20% increase$(8,490)$(8,924)
Discount rate10.2 %9.62 %
Estimated impact on fair value of a 100 bp increase$(7,633)$(7,637)
Estimated impact on fair value of a 200 bp increase$(14,617)$(14,624)
Weighted-average coupon interest rate3.50 %3.47 %
Weighted-average servicing fee (basis points)2727
Weighted-average remaining maturity (in months)335334
v3.24.1.u1
Income Taxes (Tables)
 3 Months Ended
Mar. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Reconciliation of Income Taxes
The following table presents a reconciliation of income taxes for the three months ended March 31, 2024 and 2023:
 Three Months Ended March 31,
 2024 2023 
Federal taxes calculated at statutory rate$7,192 21.0 %$9,676 21.0 %
  Increase (decrease) resulting from:
State taxes, net of federal benefit133 0.4 %251 0.6 %
Expense from equity based compensation55 0.2 %115 0.3 %
Municipal interest income, net of interest
  disallowance		(373)(1.1)%(456)(1.0)%
Bank-owned life insurance(90)(0.3)%(127)(0.3)%
Section 162(m) limitation160 0.5 %127 0.2 %
Other(777)(2.3)%111 0.2 %
Income tax expense, as reported$6,300 18.4 %$9,697 21.0 %
v3.24.1.u1
Commitments and Contingencies (Tables)
 3 Months Ended
Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Financial Instruments with Off-Balance Sheet Credit Risk
March 31,December 31,
 2024 2023 
Commitments to extend credit, excluding interest rate lock commitments$2,771,611 $2,906,016 
Letters of credit85,487 77,055 
Balance at end of period$2,857,098 $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 March 31,
2024 2023 
Balance at beginning of period$8,770 $22,969 
Reversal of credit losses on unfunded commitments(1,070)(4,506)
Balance at end of period$7,700 $18,463 
Schedule of Activity in the Repurchase Reserve
The following table summarizes the activity in the repurchase reserve included in accrued expenses and other liabilities on the Company's consolidated balance sheets:
Three Months Ended March 31,
 2024 2023 
Balance at beginning of period$899 $1,621 
Provision for (reversal of) loan repurchases or indemnifications50 (250)
Losses on loans repurchased or indemnified(19)(13)
Balance at end of period$930 $1,358 
v3.24.1.u1
Derivatives (Tables)
 3 Months Ended
Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Financial Instruments
The following presents a summary of the Company's designated cash flow hedges as of the dates presented:
March 31, 2024December 31, 2023
Notional AmountEstimated fair valueBalance sheet locationEstimated fair valueBalance sheet location
Interest rate swap agreements-
   subordinated debt		$30,000 $343 Other assets$579 Other assets
The following tables provide details on the Company’s non-designated derivative financial instruments as of the dates presented:
March 31, 2024
Notional AmountAssetLiability
  Interest rate contracts$551,095 $35,925 $35,954 
  Forward commitments226,500 — 261 
  Interest rate-lock commitments130,315 2,073 — 
  Futures contracts235,500 — 189 
    Total$1,143,410 $37,998 $36,404 
 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 $33,045 
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following discloses the amount of expense included in interest expense on deposits and borrowings, related to the Company's fair value hedging instruments:
Three Months Ended March 31,
20242023
Designated fair value hedge:
     Interest expense on deposits$— $(1,508)
     Interest expense on borrowings(645)(760)
       Total$(645)$(2,268)
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 Gains (Losses) Included in the Consolidated Statements of Income Related to Derivative Financial Instruments
The following discloses the amount included in other comprehensive loss, net of tax, for derivative instruments designated as cash flow hedges for the periods presented:
Three Months Ended March 31,
20242023
Amount of loss recognized in other comprehensive loss, net of tax benefit of $62 and $70
$(174)$(197)
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 March 31,
 2024 2023 
Included in mortgage banking income:
  Interest rate lock commitments$869 $1,207 
  Forward commitments100 (295)
  Futures contracts(2,997)1,937 
  Option contracts— (664)
    Total$(2,028)$2,185 
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
March 31, 2024
Derivative financial assets$36,145 $— $36,145 $123 $— $36,022 
Derivative financial liabilities$5,386 $— $5,386 $123 $5,263 $— 
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
March 31, 2024
Derivative financial assets$36,145 $— $36,145 $123 $— $36,022 
Derivative financial liabilities$5,386 $— $5,386 $123 $5,263 $— 
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 $— 
v3.24.1.u1
Fair Value of Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Balances and Levels of Assets Measured at Fair Value on Recurring Basis
The balances and levels of the assets and liabilities measured at fair value on a recurring basis as of March 31, 2024 and December 31, 2023 are presented in the following tables:
At March 31, 2024Quoted prices
in active
markets for
identical assets
(liabilities)
(level 1)		Significant
other
observable
inputs
(level 2) 		Significant unobservable
inputs
(level 3) 		Total
Recurring valuations:    
Financial assets:     
Available-for-sale securities:    
U.S. government agency securities$— $415,927 $— $415,927 
Mortgage-backed securities - residential— 826,214 — 826,214 
Mortgage-backed securities - commercial— 16,615 — 16,615 
Municipal securities— 171,672 — 171,672 
U.S. Treasury securities— 30,857 — 30,857 
Corporate securities— 3,397 — 3,397 
Total securities$— $1,464,682 $— $1,464,682 
Loans held for sale, at fair value$— $61,828 $— $61,828 
Mortgage servicing rights— — 165,674 165,674 
Derivatives— 38,341 — 38,341 
Financial Liabilities:
Derivatives— 36,404 — 36,404 
At December 31, 2023Quoted prices
in active
markets for
identical assets
(liabilities)
(level 1)		Significant
other
observable
inputs
(level 2) 		Significant unobservable
inputs
(level 3) 		Total
Recurring valuations:    
Financial assets:     
Available-for-sale securities:    
U.S. government agency securities$— $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 $— $46,618 
Mortgage servicing rights— — 164,249 164,249 
Derivatives— 34,738 — 34,738 
Financial Liabilities:
Derivatives— 38,215 — 38,215 
Schedule of Balances and Levels of Assets Measured at Fair Value on Non-recurring Basis
The balances and levels of the assets measured at fair value on a nonrecurring basis as of March 31, 2024 and December 31, 2023 are presented in the following tables: 
At March 31, 2024Quoted prices
in active
markets for
identical assets
(liabilities
(level 1)		Significant
other
observable
inputs
(level 2) 		Significant unobservable
inputs
(level 3) 		Total
Nonrecurring valuations:    
Financial assets:    
Other real estate owned$— $— $644 $644 
Collateral-dependent net loans held for
   investment:
Commercial and industrial— — 5,303 5,303 
Construction— — 1,288 1,288 
Residential real estate:
1-4 family mortgage— — 499 499 
Residential line of credit— — 561 561 
Commercial real estate:
Owner occupied— — 752 752 
Total collateral-dependent loans$— $— $8,403 $8,403 
 
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 months ended March 31, 2023:
Three Months Ended March 31, 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(21,890)— (21,890)
   Changes in valuation included in other noninterest income— 910 910 
      Carrying value at end of period$12,467 $(2,957)$9,510 
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 March 31, 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:
March 31, 2024
Financial instrumentFair ValueValuation techniqueSignificant 
unobservable inputs		Range of
inputs
Collateral-dependent net loans
   held for investment		$8,403 Valuation of collateralDiscount for comparable sales
9%-58%
Other real estate owned$644 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:
March 31,December 31,
20242023
Loans held for sale under a fair value option:
  Mortgage loans held for sale61,828 46,618 
Loans held for sale not accounted for under a fair value option:
  Mortgage loans held for sale - guaranteed GNMA repurchase option20,876 21,229 
               Total loans held for sale$82,704 $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 March 31, 2024 and December 31, 2023: 
March 31,December 31,
20242023
Aggregate fair value$61,828 $46,618 
Aggregate unpaid principal balance60,516 45,509 
     Difference$1,312 $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
March 31, 2024Carrying amount Level 1Level 2Level 3Total
Financial assets:     
Cash and cash equivalents$870,730 $870,730 $— $— $870,730 
Investment securities1,464,682 — 1,464,682 — 1,464,682 
Net loans held for investment9,137,242 — — 8,809,892 8,809,892 
Loans held for sale, at fair value61,828 — 61,828 — 61,828 
Interest receivable53,506 892 6,774 45,840 53,506 
Mortgage servicing rights165,674 — — 165,674 165,674 
Derivatives38,341 — 38,341 — 38,341 
Financial liabilities: 
Deposits: 
Without stated maturities$8,902,546 $8,902,546 $— $— $8,902,546 
With stated maturities1,602,382 — 1,594,332 — 1,594,332 
Securities sold under agreements to
repurchase and federal funds purchased
78,229 78,229 — — 78,229 
Bank Term Funding Program 130,000 — 129,462 — 129,462 
Subordinated debt, net130,414 — — 123,284 123,284 
Interest payable20,504 4,187 15,942 375 20,504 
Derivatives36,404 — 36,404 — 36,404 
 
 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 
v3.24.1.u1
Segment Reporting (Tables)
 3 Months Ended
Mar. 31, 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 months ended March 31, 2024 and 2023.
Three Months Ended March 31, 2024BankingMortgageConsolidated
Net interest income$97,094 $2,396 $99,490 
Provisions for (reversal of) credit losses 838 (56)782 
Mortgage banking income— 15,626 15,626 
Change in fair value of mortgage servicing rights, net of hedging(1)
— (3,041)(3,041)
Other noninterest (loss) income(4,794)171 (4,623)
Depreciation and amortization2,708 133 2,841 
Amortization of intangibles789 — 789 
Other noninterest expense56,847 11,943 68,790 
Income before income taxes$31,118 $3,132 $34,250 
Income tax expense6,300 
Net income applicable to FB Financial Corporation and noncontrolling
interest
27,950 
Net income applicable to noncontrolling interest— 
Net income applicable to FB Financial Corporation$27,950 
Total assets$11,979,904 $568,416 $12,548,320 
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 March 31, 2023BankingMortgageConsolidated
Net interest income$101,287 $2,373 $103,660 
Provisions for credit losses 212 279 491 
Mortgage banking income— 15,493 15,493 
Change in fair value of mortgage servicing rights, net of hedging(1)
— (3,407)(3,407)
Other noninterest income (loss)11,493 (230)11,263 
Depreciation and amortization2,049 179 2,228 
Amortization of intangibles990 — 990 
Other noninterest expense63,713 13,509 77,222 
Income before income taxes$45,816 $262 $46,078 
Income tax expense9,697 
Net income applicable to FB Financial Corporation and noncontrolling
interest
36,381 
Net income applicable to noncontrolling interest— 
Net income applicable to FB Financial Corporation$36,381 
Total assets$12,534,348 $566,799 $13,101,147 
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.
v3.24.1.u1
Minimum Capital Requirements (Tables)
 3 Months Ended
Mar. 31, 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.

March 31, 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$1,657,500 15.0 %$1,161,748 10.5 %N/AN/A
FirstBank1,622,562 14.7 %1,159,716 10.5 %$1,104,491 10.0 %
Tier 1 Capital (to risk-weighted assets)
FB Financial Corporation$1,419,546 12.8 %$940,462 8.5 %N/AN/A
FirstBank1,384,847 12.5 %938,818 8.5 %$883,593 8.0 %
Tier 1 Capital (to average assets)
FB Financial Corporation$1,419,546 11.3 %$500,450 4.0 %N/AN/A
FirstBank1,384,847 11.1 %499,885 4.0 %$624,857 5.0 %
Common Equity Tier 1 Capital
(to risk-weighted assets)
FB Financial Corporation$1,389,546 12.6 %$774,498 7.0 %N/AN/A
FirstBank1,384,847 12.5 %773,144 7.0 %$717,919 6.5 %
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 %
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 %
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 %
v3.24.1.u1
Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Changes in Restricted Stock Units
The following table summarizes changes in RSUs for the three months ended March 31, 2024:
 Restricted Stock
Units
Outstanding		Weighted
Average Grant
Date
Fair Value
Balance at beginning of period (unvested)323,520 $37.52 
Granted155,047 35.60 
Vested(18,777)35.55 
Forfeited(853)40.19 
Balance at end of period (unvested)458,937 $36.95 
Schedule of Changes in Performance Stock Units
The following table summarizes information about the changes in PSUs as of and for the three months ended March 31, 2024:
Performance Stock
Units
Outstanding		Weighted
Average Grant
Date
Fair Value
Balance at beginning of period (unvested)176,163 $40.86 
Granted97,738 35.60 
Performance adjustment (1)
(12,356)43.20 
Vested(34,915)43.20 
Forfeited or expired(969)40.00 
Balance at end of period (unvested)225,661 $38.09 
(1) PSUs are presented as outstanding, granted and forfeited in the table above assuming targets are met and the awards pay out at 100%. PSU
    awards are settled with payouts ranging from 0% and 200% of the target award value based on the Company's performance relative to a predefined
    peer group over a fixed three-year performance period. 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 March 31, 2024:
Grant Year(1)
Grant PricePerformance PeriodPSUs Outstanding
2022$44.44 2022 to 202449,836
2023$37.17 2023 to 202578,087
2024$35.60 2024 to 202697,738
(1)Vesting factor will be interpolated between 0% and 200% of PSUs outstanding based on the Company's performance relative to a predefined peer
    group over a fixed three-year performance period.
v3.24.1.u1
Related Party Transactions (Tables)
 3 Months Ended
Mar. 31, 2024
Related Party Transactions [Abstract]  
Schedule of Loans Analysis to Executive Officers, Certain Management, Bank Directors and Related Interests
An analysis of loans to executive officers, certain management, significant shareholders and directors of the Bank and their related interests is presented below:
Loans outstanding at January 1, 2024$49,073 
New loans and advances1,894 
Change in related party status— 
Repayments(1,474)
Loans outstanding at March 31, 2024$49,493 
v3.24.1.u1
Basis of Presentation - Narrative (Details)
Mar. 31, 2024
branch
Accounting Policies [Abstract]  
Number of full-service branches 76
v3.24.1.u1
Basis of Presentation - Schedule of Basic and Diluted Earnings Per Common Share Calculation (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Basic earnings per common share:    
Net income applicable to FB Financial Corporation $ 27,950 $ 36,381
Dividends paid on and undistributed earnings allocated to participating securities 0 0
Earnings available to common shareholders $ 27,950 $ 36,381
Weighted average basic shares outstanding (in shares) 46,874,882 46,679,618
Basic earnings per common share (in dollars per share) $ 0.60 $ 0.78
Diluted earnings per common share:    
Earnings available to common shareholders $ 27,950 $ 36,381
Weighted average basic shares outstanding (in shares) 46,874,882 46,679,618
Weighted average diluted shares contingently issuable (in shares) 123,991 85,536
Weighted average diluted shares outstanding (in shares) 46,998,873 46,765,154
Diluted earnings per common share (in dollars per share) $ 0.59 $ 0.78
Restricted Stock Units    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Restricted stock units outstanding considered to be antidilutive (in shares) 2,949 159,946
v3.24.1.u1
Investment Securities - Schedule of Amortized Cost of Securities and Fair Values (Details) - USD ($)
Mar. 31, 2024
Dec. 31, 2023
Debt Securities, Available-for-sale [Abstract]    
Total AFS debt securities $ 1,648,280,000 $ 1,658,779,000
Gross unrealized gains 190,000 840,000
Gross unrealized losses (183,788,000) (187,646,000)
Allowance for credit losses for investments 0 0
Fair Value 1,464,682,000 1,471,973,000
U.S. government agency securities    
Debt Securities, Available-for-sale [Abstract]    
Total AFS debt securities 416,953,000 204,663,000
Gross unrealized gains 145,000 470,000
Gross unrealized losses (1,171,000) (1,177,000)
Allowance for credit losses for investments 0 0
Fair Value 415,927,000 203,956,000
Mortgage-backed securities - residential    
Debt Securities, Available-for-sale [Abstract]    
Total AFS debt securities 984,473,000 1,057,389,000
Gross unrealized gains 0 0
Gross unrealized losses (158,259,000) (160,418,000)
Allowance for credit losses for investments 0 0
Fair Value 826,214,000 896,971,000
Mortgage-backed securities - commercial    
Debt Securities, Available-for-sale [Abstract]    
Total AFS debt securities 17,899,000 18,186,000
Gross unrealized gains 0 0
Gross unrealized losses (1,284,000) (1,225,000)
Allowance for credit losses for investments 0 0
Fair Value 16,615,000 16,961,000
Municipal securities    
Debt Securities, Available-for-sale [Abstract]    
Total AFS debt securities 194,470,000 263,312,000
Gross unrealized gains 45,000 370,000
Gross unrealized losses (22,843,000) (21,419,000)
Allowance for credit losses for investments 0 0
Fair Value 171,672,000 242,263,000
U.S. Treasury securities    
Debt Securities, Available-for-sale [Abstract]    
Total AFS debt securities 30,985,000 111,729,000
Gross unrealized gains 0 0
Gross unrealized losses (128,000) (3,233,000)
Allowance for credit losses for investments 0 0
Fair Value 30,857,000 108,496,000
Corporate securities    
Debt Securities, Available-for-sale [Abstract]    
Total AFS debt securities 3,500,000 3,500,000
Gross unrealized gains 0 0
Gross unrealized losses (103,000) (174,000)
Allowance for credit losses for investments 0 0
Fair Value $ 3,397,000 $ 3,326,000
v3.24.1.u1
Investment Securities - Narrative (Details)
Mar. 31, 2024
USD ($)
security
Dec. 31, 2023
USD ($)
security
Debt and Equity Securities, FV-NI [Line Items]    
Accrued interest receivable $ 53,506,000 $ 52,715,000
Allowance for credit losses for investments $ 0 $ 0
Number of securities in securities portfolio | security 340 439
Number of securities in securities portfolio, unrealized loss position | security 316 370
Equity securities without readily determinable market value $ 25,589,000 $ 25,191,000
Federal home loan bank stock 33,948,000 34,190,000
Collateral Pledged    
Debt and Equity Securities, FV-NI [Line Items]    
Securities pledged 949,958,000 929,546,000
Debt Securities    
Debt and Equity Securities, FV-NI [Line Items]    
Accrued interest receivable $ 5,409,000 $ 7,212,000
v3.24.1.u1
Investment Securities - Schedule of Gross Unrealized Losses (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Debt Securities, Available-for-sale [Abstract]    
Fair Value, Less than 12 months $ 213,001 $ 40,403
Unrealized Loss, Less than 12 months (525) (169)
Fair Value, 12 months or more 990,287 1,228,463
Unrealized Loss, 12 months or more (183,263) (187,477)
Fair Value, Total 1,203,288 1,268,866
Unrealized Loss, Total (183,788) (187,646)
U.S. government agency securities    
Debt Securities, Available-for-sale [Abstract]    
Fair Value, Less than 12 months 203,870 25,923
Unrealized Loss, Less than 12 months (484) (21)
Fair Value, 12 months or more 7,251 14,040
Unrealized Loss, 12 months or more (687) (1,156)
Fair Value, Total 211,121 39,963
Unrealized Loss, Total (1,171) (1,177)
Mortgage-backed securities - residential    
Debt Securities, Available-for-sale [Abstract]    
Fair Value, Less than 12 months 0 0
Unrealized Loss, Less than 12 months 0 0
Fair Value, 12 months or more 776,208 896,971
Unrealized Loss, 12 months or more (158,259) (160,418)
Fair Value, Total 776,208 896,971
Unrealized Loss, Total (158,259) (160,418)
Mortgage-backed securities - commercial    
Debt Securities, Available-for-sale [Abstract]    
Fair Value, Less than 12 months 0 0
Unrealized Loss, Less than 12 months 0 0
Fair Value, 12 months or more 16,615 16,961
Unrealized Loss, 12 months or more (1,284) (1,225)
Fair Value, Total 16,615 16,961
Unrealized Loss, Total (1,284) (1,225)
Municipal securities    
Debt Securities, Available-for-sale [Abstract]    
Fair Value, Less than 12 months 9,131 14,480
Unrealized Loss, Less than 12 months (41) (148)
Fair Value, 12 months or more 155,959 188,669
Unrealized Loss, 12 months or more (22,802) (21,271)
Fair Value, Total 165,090 203,149
Unrealized Loss, Total (22,843) (21,419)
U.S. Treasury securities    
Debt Securities, Available-for-sale [Abstract]    
Fair Value, Less than 12 months 0 0
Unrealized Loss, Less than 12 months 0 0
Fair Value, 12 months or more 30,857 108,496
Unrealized Loss, 12 months or more (128) (3,233)
Fair Value, Total 30,857 108,496
Unrealized Loss, Total (128) (3,233)
Corporate securities    
Debt Securities, Available-for-sale [Abstract]    
Fair Value, Less than 12 months 0 0
Unrealized Loss, Less than 12 months 0 0
Fair Value, 12 months or more 3,397 3,326
Unrealized Loss, 12 months or more (103) (174)
Fair Value, Total 3,397 3,326
Unrealized Loss, Total $ (103) $ (174)
v3.24.1.u1
Investment Securities - Schedule of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Amortized cost    
Due in one year or less $ 34,073 $ 64,776
Due in one to five years 10,851 75,996
Due in five to ten years 40,939 51,162
Due in over ten years 560,045 391,270
Amortized cost, sub-total 645,908 583,204
Total AFS debt securities 1,648,280 1,658,779
Fair value    
Due in one year or less 33,910 64,279
Due in one to five years 10,080 71,801
Due in five to ten years 39,932 49,630
Due in over ten years 537,931 372,331
Fair value, sub-total 621,853 558,041
Total AFS debt securities 1,464,682 1,471,973
Mortgage-backed securities - residential    
Amortized cost    
Mortgage-backed securities 984,473 1,057,389
Total AFS debt securities 984,473 1,057,389
Fair value    
Mortgage-backed securities 826,214 896,971
Total AFS debt securities 826,214 896,971
Mortgage-backed securities - commercial    
Amortized cost    
Mortgage-backed securities 17,899 18,186
Total AFS debt securities 17,899 18,186
Fair value    
Mortgage-backed securities 16,615 16,961
Total AFS debt securities $ 16,615 $ 16,961
v3.24.1.u1
Investment Securities - Schedule of Sales and Other Dispositions of Available-for-Sale Securities (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]    
Proceeds from sales $ 207,882 $ 0
Proceeds from maturities, prepayments and calls 66,627 26,827
Gross realized gains 90 0
Gross realized losses $ 16,303 $ 0
v3.24.1.u1
Loans and Allowance for Credit Losses on Loans HFI - Schedule of Loans Outstanding by Class of Financing Receivable (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Mar. 31, 2023
Dec. 31, 2022
Financing Receivable, Past Due [Line Items]        
Gross loans $ 9,288,909 $ 9,408,783    
Less: Allowance for credit losses on loans HFI (151,667) (150,326) $ (138,809) $ (134,192)
Net loans held for investment 9,137,242 9,258,457    
Commercial and industrial        
Financing Receivable, Past Due [Line Items]        
Gross loans 1,621,611 1,720,733    
Less: Allowance for credit losses on loans HFI (17,272) (19,599) (11,117) (11,106)
Construction        
Financing Receivable, Past Due [Line Items]        
Gross loans 1,268,883 1,397,313    
Less: Allowance for credit losses on loans HFI (37,308) (35,372) (41,025) (39,808)
Residential real estate: | 1-to-4 family mortgage        
Financing Receivable, Past Due [Line Items]        
Gross loans 1,577,824 1,568,552    
Less: Allowance for credit losses on loans HFI (26,128) (26,505) (27,213) (26,141)
Residential real estate: | Residential line of credit        
Financing Receivable, Past Due [Line Items]        
Gross loans 549,306 530,912    
Less: Allowance for credit losses on loans HFI (9,918) (9,468) (9,034) (7,494)
Residential real estate: | Multi-family mortgage        
Financing Receivable, Past Due [Line Items]        
Gross loans 615,081 603,804    
Less: Allowance for credit losses on loans HFI (8,973) (8,842) (6,619) (6,490)
Commercial real estate: | Owner-occupied        
Financing Receivable, Past Due [Line Items]        
Gross loans 1,236,007 1,232,071    
Less: Allowance for credit losses on loans HFI (10,749) (10,653) (7,952) (7,783)
Commercial real estate: | Non-owner occupied        
Financing Receivable, Past Due [Line Items]        
Gross loans 1,991,526 1,943,525    
Less: Allowance for credit losses on loans HFI (23,949) (22,965) (21,868) (21,916)
Consumer and other        
Financing Receivable, Past Due [Line Items]        
Gross loans 428,671 411,873    
Less: Allowance for credit losses on loans HFI $ (17,370) $ (16,922) $ (13,981) $ (13,454)
v3.24.1.u1
Loans and Allowance for Credit Losses on Loans HFI - Narrative (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
USD ($)
Mar. 31, 2023
USD ($)
loan
Dec. 31, 2023
USD ($)
Financing Receivable, Past Due [Line Items]      
Accrued interest receivable on loans $ 45,840   $ 43,776
Accrued interest receivable written off as an adjustment to interest income on non-accrual loans 201 $ 181  
Number of modifications of loans | loan   0  
Financing receivables modified in prior 12 months with payment default 0    
Commercial and Industrial Loan | Federal Reserve Bank      
Financing Receivable, Past Due [Line Items]      
Deposit liabilities, collateral issued, financial instruments 2,982,391   3,107,495
FHLB Cincinnati | Residential Mortgage Loans      
Financing Receivable, Past Due [Line Items]      
Collateral securing line of credit 950,787   1,030,016
FHLB Cincinnati | Commercial Loan      
Financing Receivable, Past Due [Line Items]      
Collateral securing line of credit $ 1,563,819   $ 1,984,007
v3.24.1.u1
Loans and Allowance for Credit Losses on Loans HFI - Schedule of Credit Quality of Loan Portfolio by Year of Origination (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2024
Dec. 31, 2023
Financing Receivable, Allowance for Credit Loss [Line Items]    
Total $ 9,288,909 $ 9,408,783
Commercial and industrial    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 16,449 226,191
2023-2022 206,182 278,121
2022-2021 259,039 157,650
2021-2020 78,655 42,924
2020-2019 39,863 70,707
Prior 135,654 79,652
Revolving Loans Amortized Cost Basis 885,769 865,488
Total 1,621,611 1,720,733
Current and prior-period gross charge-offs, 2024-2023 0 14
Current and prior-period gross charge-offs, -2023-2022 0 7
Current and prior-period gross charge-offs, 2022-2021 0 201
Current and prior-period gross charge-offs, 2021-2020 14 22
Current and prior-period gross charge-offs, 2020-2019 0 0
Current and prior-period gross charge-offs, prior 7 87
Revolving Loans Amortized Cost Basis 22 131
Total 43  
Commercial and industrial | Pass    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 16,449 225,734
2023-2022 202,050 255,921
2022-2021 237,139 151,492
2021-2020 72,725 39,897
2020-2019 36,876 70,302
Prior 129,057 73,415
Revolving Loans Amortized Cost Basis 864,065 839,918
Total 1,558,361 1,656,679
Commercial and industrial | Special Mention    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 0 0
2023-2022 3,675 17,947
2022-2021 17,572 3,083
2021-2020 2,913 0
2020-2019 0 151
Prior 247 108
Revolving Loans Amortized Cost Basis 4,521 7,549
Total 28,928 28,838
Commercial and industrial | Classified    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 0 457
2023-2022 457 4,253
2022-2021 4,328 3,075
2021-2020 3,017 3,027
2020-2019 2,987 254
Prior 6,350 6,129
Revolving Loans Amortized Cost Basis 17,183 18,021
Total 34,322 35,216
Construction    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 39,360 179,930
2023-2022 193,914 684,395
2022-2021 560,584 152,739
2021-2020 129,976 54,519
2020-2019 43,408 39,140
Prior 87,370 50,644
Revolving Loans Amortized Cost Basis 214,271 235,946
Total 1,268,883 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 39,360 179,929
2023-2022 193,203 677,387
2022-2021 551,909 148,312
2021-2020 124,878 46,697
2020-2019 36,531 39,140
Prior 86,713 49,954
Revolving Loans Amortized Cost Basis 187,955 208,491
Total 1,220,549 1,349,910
Construction | Special Mention    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 0 1
2023-2022 711 4,659
2022-2021 4,689 2,943
2021-2020 2,508 1,202
2020-2019 0 0
Prior 657 690
Revolving Loans Amortized Cost Basis 12,000 12,000
Total 20,565 21,495
Construction | Classified    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 0 0
2023-2022 0 2,349
2022-2021 3,986 1,484
2021-2020 2,590 6,620
2020-2019 6,877 0
Prior 0 0
Revolving Loans Amortized Cost Basis 14,316 15,455
Total 27,769 25,908
Residential real estate: | Multi-family mortgage    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 0 29,982
2023-2022 29,861 151,495
2022-2021 193,591 223,889
2021-2020 244,770 92,745
2020-2019 54,744 29,933
Prior 69,162 44,551
Revolving Loans Amortized Cost Basis 22,953 31,209
Total 615,081 603,804
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 0 29,982
2023-2022 29,861 151,495
2022-2021 193,591 223,889
2021-2020 244,770 92,745
2020-2019 54,744 29,933
Prior 68,104 43,479
Revolving Loans Amortized Cost Basis 22,953 31,209
Total 614,023 602,732
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 0 0
2020-2019 0 0
Prior 0 0
Revolving Loans Amortized Cost Basis 0 0
Total 0 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 1,058 1,072
Revolving Loans Amortized Cost Basis 0 0
Total 1,058 1,072
Residential real estate: | 1-to-4 family mortgage    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 43,291 198,613
2023-2022 187,528 503,193
2022-2021 497,670 403,364
2021-2020 397,043 149,330
2020-2019 148,039 82,595
Prior 304,253 231,457
Revolving Loans Amortized Cost Basis 0 0
Total 1,577,824 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 0 0
Current and prior-period gross charge-offs, 2021-2020 0 4
Current and prior-period gross charge-offs, 2020-2019 0 0
Current and prior-period gross charge-offs, prior 0 24
Revolving Loans Amortized Cost Basis 0 0
Total 0 46
Residential real estate: | 1-to-4 family mortgage | Performing    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 43,291 198,537
2023-2022 187,203 500,628
2022-2021 492,643 399,338
2021-2020 393,806 145,484
2020-2019 143,618 81,905
Prior 298,828 226,587
Revolving Loans Amortized Cost Basis 0 0
Total 1,559,389 1,552,479
Residential real estate: | 1-to-4 family mortgage | Nonperforming    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 0 76
2023-2022 325 2,565
2022-2021 5,027 4,026
2021-2020 3,237 3,846
2020-2019 4,421 690
Prior 5,425 4,870
Revolving Loans Amortized Cost Basis 0 0
Total 18,435 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 549,306 530,912
Total 549,306 530,912
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 0 0
Revolving Loans Amortized Cost Basis 20 0
Total 20 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 547,097 528,439
Total 547,097 528,439
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 2,209 2,473
Total 2,209 2,473
Commercial real estate: | Owner-occupied    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 24,636 118,030
2023-2022 112,168 268,798
2022-2021 260,941 233,084
2021-2020 233,181 115,397
2020-2019 113,546 152,060
Prior 436,957 289,659
Revolving Loans Amortized Cost Basis 54,578 55,043
Total 1,236,007 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 24,636 118,030
2023-2022 112,168 261,196
2022-2021 253,377 231,241
2021-2020 231,354 115,397
2020-2019 113,481 151,146
Prior 428,182 281,253
Revolving Loans Amortized Cost Basis 53,516 53,970
Total 1,216,714 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 1,283 1,827
2021-2020 1,811 0
2020-2019 0 154
Prior 2,547 2,617
Revolving Loans Amortized Cost Basis 0 0
Total 5,641 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 6,281 16
2021-2020 16 0
2020-2019 65 760
Prior 6,228 5,789
Revolving Loans Amortized Cost Basis 1,062 1,073
Total 13,652 13,943
Commercial real estate: | Non-owner occupied    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 3,755 47,026
2023-2022 45,516 474,560
2022-2021 533,649 483,854
2021-2020 473,517 117,429
2020-2019 122,699 178,829
Prior 769,300 598,250
Revolving Loans Amortized Cost Basis 43,090 43,577
Total 1,991,526 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 3,755 47,026
2023-2022 45,516 474,560
2022-2021 533,649 478,878
2021-2020 468,553 117,429
2020-2019 122,699 178,448
Prior 750,943 580,168
Revolving Loans Amortized Cost Basis 43,090 43,577
Total 1,968,205 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 0 3,975
2021-2020 3,966 0
2020-2019 0 0
Prior 83 10,435
Revolving Loans Amortized Cost Basis 0 0
Total 4,049 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 998 0
2020-2019 0 381
Prior 18,274 7,647
Revolving Loans Amortized Cost Basis 0 0
Total 19,272 9,029
Consumer and other    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 25,887 104,927
2023-2022 109,574 92,582
2022-2021 88,221 47,749
2021-2020 44,966 36,747
2020-2019 35,264 25,304
Prior 118,910 97,674
Revolving Loans Amortized Cost Basis 5,849 6,890
Total 428,671 411,873
Current and prior-period gross charge-offs, 2024-2023 155 1,463
Current and prior-period gross charge-offs, -2023-2022 344 564
Current and prior-period gross charge-offs, 2022-2021 31 139
Current and prior-period gross charge-offs, 2021-2020 96 201
Current and prior-period gross charge-offs, 2020-2019 36 110
Current and prior-period gross charge-offs, prior 110 372
Revolving Loans Amortized Cost Basis 0 2
Total 772 2,851
Consumer and other | Performing    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 25,887 104,399
2023-2022 109,013 91,557
2022-2021 87,312 45,187
2021-2020 42,673 34,928
2020-2019 33,415 24,040
Prior 114,071 93,833
Revolving Loans Amortized Cost Basis 5,849 6,890
Total 418,220 400,834
Consumer and other | Nonperforming    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 0 528
2023-2022 561 1,025
2022-2021 909 2,562
2021-2020 2,293 1,819
2020-2019 1,849 1,264
Prior 4,839 3,841
Revolving Loans Amortized Cost Basis 0 0
Total 10,451 11,039
Total consumer type loans    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 69,178 303,540
2023-2022 297,102 595,775
2022-2021 585,891 451,113
2021-2020 442,009 186,077
2020-2019 183,303 107,899
Prior 423,163 329,131
Revolving Loans Amortized Cost Basis 555,155 537,802
Total 2,555,801 2,511,337
Current and prior-period gross charge-offs, 2024-2023 155 1,463
Current and prior-period gross charge-offs, -2023-2022 344 582
Current and prior-period gross charge-offs, 2022-2021 31 139
Current and prior-period gross charge-offs, 2021-2020 96 205
Current and prior-period gross charge-offs, 2020-2019 36 110
Current and prior-period gross charge-offs, prior 110 396
Revolving Loans Amortized Cost Basis 20 2
Total 792 2,897
Total consumer type loans | Performing    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 69,178 302,936
2023-2022 296,216 592,185
2022-2021 579,955 444,525
2021-2020 436,479 180,412
2020-2019 177,033 105,945
Prior 412,899 320,420
Revolving Loans Amortized Cost Basis 552,946 535,329
Total 2,524,706 2,481,752
Total consumer type loans | Nonperforming    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 0 604
2023-2022 886 3,590
2022-2021 5,936 6,588
2021-2020 5,530 5,665
2020-2019 6,270 1,954
Prior 10,264 8,711
Revolving Loans Amortized Cost Basis 2,209 2,473
Total 31,095 29,585
Total Commercial Loans    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 84,200 601,159
2023-2022 587,641 1,857,369
2022-2021 1,807,804 1,251,216
2021-2020 1,160,099 423,014
2020-2019 374,260 470,669
Prior 1,498,443 1,062,756
Revolving Loans Amortized Cost Basis 1,220,661 1,231,263
Total 6,733,108 6,897,446
Current and prior-period gross charge-offs, 2024-2023 0 14
Current and prior-period gross charge-offs, -2023-2022 0 7
Current and prior-period gross charge-offs, 2022-2021 0 345
Current and prior-period gross charge-offs, 2021-2020 14 22
Current and prior-period gross charge-offs, 2020-2019 0 0
Current and prior-period gross charge-offs, prior 7 87
Revolving Loans Amortized Cost Basis 114 131
Total 135 606
Total Commercial Loans | Pass    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 84,200 600,701
2023-2022 582,798 1,820,559
2022-2021 1,769,665 1,233,812
2021-2020 1,142,280 412,165
2020-2019 364,331 468,969
Prior 1,462,999 1,028,269
Revolving Loans Amortized Cost Basis 1,171,579 1,177,165
Total 6,577,852 6,741,640
Total Commercial Loans | Special Mention    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 0 1
2023-2022 4,386 23,903
2022-2021 23,544 11,828
2021-2020 11,198 1,202
2020-2019 0 305
Prior 3,534 13,850
Revolving Loans Amortized Cost Basis 16,521 19,549
Total 59,183 70,638
Total Commercial Loans | Classified    
Financing Receivable, Allowance for Credit Loss [Line Items]    
2024-2023 0 457
2023-2022 457 12,907
2022-2021 14,595 5,576
2021-2020 6,621 9,647
2020-2019 9,929 1,395
Prior 31,910 20,637
Revolving Loans Amortized Cost Basis 32,561 34,549
Total $ 96,073 $ 85,168
v3.24.1.u1
Loans and Allowance for Credit Losses on Loans HFI - Schedule of Analysis of Aging by Class of Financing Receivable (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Financing Receivable, Past Due [Line Items]    
Loans held for investment $ 9,288,909 $ 9,408,783
90 days or  more and accruing interest 12,858 12,693
Nonaccrual loans 54,892 48,230
30-89 days past due and accruing interest    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 37,473 47,043
Loans current on payments and accruing interest    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 9,183,686 9,300,817
Commercial and industrial    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 1,621,611 1,720,733
90 days or  more and accruing interest 0 0
Nonaccrual loans 24,643 21,730
Commercial and industrial | 30-89 days past due and accruing interest    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 1,606 732
Commercial and industrial | Loans current on payments and accruing interest    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 1,595,362 1,698,271
Construction    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 1,268,883 1,397,313
90 days or  more and accruing interest 585 165
Nonaccrual loans 5,077 2,872
Construction | 30-89 days past due and accruing interest    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 1,474 6,579
Construction | Loans current on payments and accruing interest    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 1,261,747 1,387,697
Residential real estate: | 1-to-4 family mortgage    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 1,577,824 1,568,552
90 days or  more and accruing interest 9,610 9,355
Nonaccrual loans 8,825 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 17,881 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 1,541,508 1,530,711
Residential real estate: | Residential line of credit    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 549,306 530,912
90 days or  more and accruing interest 1,097 1,337
Nonaccrual loans 1,112 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 1,717 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 545,380 525,975
Residential real estate: | Multi-family mortgage    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 615,081 603,804
90 days or  more and accruing interest 0 0
Nonaccrual loans 31 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 615,050 603,772
Commercial real estate: | Owner-occupied    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 1,236,007 1,232,071
90 days or  more and accruing interest 0 0
Nonaccrual loans 3,069 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 465 480
Commercial real estate: | Owner-occupied | Loans current on payments and accruing interest    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 1,232,473 1,228,403
Commercial real estate: | Non-owner occupied    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 1,991,526 1,943,525
90 days or  more and accruing interest 0 0
Nonaccrual loans 3,250 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 3,631 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 1,984,645 1,936,115
Consumer and other    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 428,671 411,873
90 days or  more and accruing interest 1,566 1,836
Nonaccrual loans 8,885 9,203
Consumer and other | 30-89 days past due and accruing interest    
Financing Receivable, Past Due [Line Items]    
Loans held for investment 10,699 10,961
Consumer and other | Loans current on payments and accruing interest    
Financing Receivable, Past Due [Line Items]    
Loans held for investment $ 407,521 $ 389,873
v3.24.1.u1
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
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Financing Receivable, Past Due [Line Items]      
Nonaccrual with no related allowance $ 26,919   $ 14,310
Nonaccrual with related allowance 27,973   33,920
Related allowance 5,021   5,696
Year to date Interest Income 385 $ 443  
Commercial and industrial      
Financing Receivable, Past Due [Line Items]      
Nonaccrual with no related allowance 14,465   3,678
Nonaccrual with related allowance 10,178   18,052
Related allowance 3,946   5,011
Year to date Interest Income 224 20  
Construction      
Financing Receivable, Past Due [Line Items]      
Nonaccrual with no related allowance 3,152   2,267
Nonaccrual with related allowance 1,925   605
Related allowance 293   59
Year to date Interest Income 61 6  
Residential real estate: | 1-to-4 family mortgage      
Financing Receivable, Past Due [Line Items]      
Nonaccrual with no related allowance 3,336   1,444
Nonaccrual with related allowance 5,489   5,274
Related allowance 167   103
Year to date Interest Income 0 79  
Residential real estate: | Residential line of credit      
Financing Receivable, Past Due [Line Items]      
Nonaccrual with no related allowance 812   685
Nonaccrual with related allowance 300   451
Related allowance 5   8
Year to date Interest Income 16 24  
Residential real estate: | Multi-family mortgage      
Financing Receivable, Past Due [Line Items]      
Nonaccrual with no related allowance 0   0
Nonaccrual with related allowance 31   32
Related allowance 1   1
Year to date Interest Income 0 1  
Commercial real estate: | Owner-occupied      
Financing Receivable, Past Due [Line Items]      
Nonaccrual with no related allowance 1,935   2,920
Nonaccrual with related allowance 1,134   268
Related allowance 145   15
Year to date Interest Income 49 58  
Commercial real estate: | Non-owner occupied      
Financing Receivable, Past Due [Line Items]      
Nonaccrual with no related allowance 3,219   3,316
Nonaccrual with related allowance 31   35
Related allowance 1   1
Year to date Interest Income 35 82  
Consumer and other      
Financing Receivable, Past Due [Line Items]      
Nonaccrual with no related allowance 0   0
Nonaccrual with related allowance 8,885   9,203
Related allowance 463   $ 498
Year to date Interest Income $ 0 $ 173  
v3.24.1.u1
Loans and Allowance for Credit Losses on Loans HFI - Modifications of Outstanding Balance (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
USD ($)
Financing Receivable, Troubled Debt Restructuring [Line Items]  
Total $ 24,689
% of total class of financing receivables 0.30%
Payment deferral and term extension  
Financing Receivable, Troubled Debt Restructuring [Line Items]  
Total $ 14,316
Term extension  
Financing Receivable, Troubled Debt Restructuring [Line Items]  
Total 10,373
Construction  
Financing Receivable, Troubled Debt Restructuring [Line Items]  
Total $ 14,316
% of total class of financing receivables 1.10%
Construction | Payment deferral and term extension  
Financing Receivable, Troubled Debt Restructuring [Line Items]  
Total $ 14,316
Construction | Term extension  
Financing Receivable, Troubled Debt Restructuring [Line Items]  
Total 0
Commercial real estate | Non-owner occupied  
Financing Receivable, Troubled Debt Restructuring [Line Items]  
Total $ 10,351
% of total class of financing receivables 0.50%
Commercial real estate | Payment deferral and term extension | Non-owner occupied  
Financing Receivable, Troubled Debt Restructuring [Line Items]  
Total $ 0
Commercial real estate | Term extension | Non-owner occupied  
Financing Receivable, Troubled Debt Restructuring [Line Items]  
Total 10,351
Consumer and other  
Financing Receivable, Troubled Debt Restructuring [Line Items]  
Total $ 22
% of total class of financing receivables 0.00%
Consumer and other | Payment deferral and term extension  
Financing Receivable, Troubled Debt Restructuring [Line Items]  
Total $ 0
Consumer and other | Term extension  
Financing Receivable, Troubled Debt Restructuring [Line Items]  
Total $ 22
v3.24.1.u1
Loans and Allowance for Credit Losses on Loans HFI - Financial Effects of Loan Modifications (Details)
 3 Months Ended
Mar. 31, 2024
Construction | Payment deferral and term extension  
Financing Receivable, Troubled Debt Restructuring [Line Items]  
Weighted average of loans (in years) 6 months
Construction | Term extension  
Financing Receivable, Troubled Debt Restructuring [Line Items]  
Weighted average of loans (in years) 3 months
Commercial real estate | Payment deferral and term extension | Non-owner occupied  
Financing Receivable, Troubled Debt Restructuring [Line Items]  
Weighted average of loans (in years) 6 months
Commercial real estate | Term extension | Non-owner occupied  
Financing Receivable, Troubled Debt Restructuring [Line Items]  
Weighted average of loans (in years) 0 months
Consumer and other | Payment deferral and term extension  
Financing Receivable, Troubled Debt Restructuring [Line Items]  
Weighted average of loans (in years) 42 months
Consumer and other | Term extension  
Financing Receivable, Troubled Debt Restructuring [Line Items]  
Weighted average of loans (in years) 0 months
v3.24.1.u1
Loans and Allowance for Credit Losses on Loans HFI - Payment Status Recorded Investment (Details)
$ in Thousands
Mar. 31, 2024
USD ($)
Financing Receivable, Past Due [Line Items]  
Loans held for investment, modified $ 24,933
Nonaccrual loans 244
30-89 days past due and accruing interest  
Financing Receivable, Past Due [Line Items]  
Loans held for investment, modified 0
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 24,689
Commercial and industrial  
Financing Receivable, Past Due [Line Items]  
Loans held for investment, modified 179
Nonaccrual loans 179
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 14,316
Nonaccrual loans 0
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 14,316
Residential real estate | 1-to-4 family mortgage  
Financing Receivable, Past Due [Line Items]  
Loans held for investment, modified 65
Nonaccrual loans 65
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
Commercial real estate | Non-owner occupied  
Financing Receivable, Past Due [Line Items]  
Loans held for investment, modified 10,351
Nonaccrual loans 0
Commercial real estate | 30-89 days past due and accruing interest | Non-owner occupied  
Financing Receivable, Past Due [Line Items]  
Loans held for investment, modified 0
Commercial real estate | 90 days or  more and accruing interest | Non-owner occupied  
Financing Receivable, Past Due [Line Items]  
Loans held for investment, modified 0
Commercial real estate | Loans current on payments and accruing interest | Non-owner occupied  
Financing Receivable, Past Due [Line Items]  
Loans held for investment, modified 10,351
Consumer and other  
Financing Receivable, Past Due [Line Items]  
Loans held for investment, modified 22
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 0
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 $ 22
v3.24.1.u1
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
Mar. 31, 2024
Dec. 31, 2023
Mar. 31, 2023
Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral $ 151,667 $ 150,326 $ 138,809 $ 134,192
Commercial and industrial        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral 17,272 19,599 11,117 11,106
Construction        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral 37,308 35,372 41,025 39,808
Residential real estate: | 1-to-4 family mortgage        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral 26,128 26,505 27,213 26,141
Residential real estate: | Residential line of credit        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral 9,918 9,468 9,034 7,494
Residential real estate: | Multi-family mortgage        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral 8,973 8,842 6,619 6,490
Commercial real estate: | Owner-occupied        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral 10,749 10,653 7,952 7,783
Commercial real estate: | Non-owner occupied        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral 23,949 22,965 21,868 21,916
Consumer and other        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral 17,370 16,922 $ 13,981 $ 13,454
Real Estate        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral 46,807 20,189    
Real Estate | Commercial and industrial        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral 86 0    
Real Estate | Construction        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral 24,744 8,224    
Real Estate | Residential real estate: | 1-to-4 family mortgage        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral 3,893 5,317    
Real Estate | Residential real estate: | Residential line of credit        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral 1,384 1,245    
Real Estate | Residential real estate: | Multi-family mortgage        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral 0      
Real Estate | Commercial real estate: | Owner-occupied        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral 1,969 1,975    
Real Estate | Commercial real estate: | Non-owner occupied        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral 14,731 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 9,494 1,523    
Farmland | Commercial and industrial        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral 363 363    
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 | Residential real estate: | Multi-family mortgage        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral 0      
Farmland | Commercial real estate: | Owner-occupied        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral 7,478 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 23,660 20,599    
Business Assets | Commercial and industrial        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral 23,660 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 | Residential real estate: | Multi-family mortgage        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral 0      
Business Assets | Commercial real estate: | Owner-occupied        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral 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 79,961 42,311    
Individually assessed allowance for credit loss 4,349 5,136    
Total | Commercial and industrial        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral 24,109 20,962    
Individually assessed allowance for credit loss 3,883 4,946    
Total | Construction        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral 26,397 8,224    
Individually assessed allowance for credit loss 265 30    
Total | Residential real estate: | 1-to-4 family mortgage        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral 3,893 5,317    
Individually assessed allowance for credit loss 58 129    
Total | Residential real estate: | Residential line of credit        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral 1,384 1,245    
Individually assessed allowance for credit loss 12 10    
Total | Residential real estate: | Multi-family mortgage        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral 0      
Individually assessed allowance for credit loss 0      
Total | Commercial real estate: | Owner-occupied        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral 9,447 3,135    
Individually assessed allowance for credit loss 131 0    
Total | Commercial real estate: | Non-owner occupied        
Financing Receivable, Allowance for Credit Loss [Line Items]        
Type of Collateral 14,731 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    
v3.24.1.u1
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
Mar. 31, 2024
Mar. 31, 2023
Allowance for Loan and Lease Losses [Roll Forward]    
Balance at beginning of period $ 150,326 $ 134,192
(Reversal of) provision for credit losses on loans HFI 1,852 4,997
Recoveries of loans previously charged-off 416 387
Loans charged off (927) (767)
Balance at end of period 151,667 138,809
Commercial and industrial    
Allowance for Loan and Lease Losses [Roll Forward]    
Balance at beginning of period 19,599 11,106
(Reversal of) provision for credit losses on loans HFI (2,298) (10)
Recoveries of loans previously charged-off 14 67
Loans charged off (43) (46)
Balance at end of period 17,272 11,117
Construction    
Allowance for Loan and Lease Losses [Roll Forward]    
Balance at beginning of period 35,372 39,808
(Reversal of) provision for credit losses on loans HFI 2,028 1,217
Recoveries of loans previously charged-off 0 0
Loans charged off (92) 0
Balance at end of period 37,308 41,025
Residential real estate: | 1-to-4 family mortgage    
Allowance for Loan and Lease Losses [Roll Forward]    
Balance at beginning of period 26,505 26,141
(Reversal of) provision for credit losses on loans HFI (433) 1,073
Recoveries of loans previously charged-off 56 15
Loans charged off 0 (16)
Balance at end of period 26,128 27,213
Residential real estate: | Residential line of credit    
Allowance for Loan and Lease Losses [Roll Forward]    
Balance at beginning of period 9,468 7,494
(Reversal of) provision for credit losses on loans HFI 470 1,540
Recoveries of loans previously charged-off 0 0
Loans charged off (20) 0
Balance at end of period 9,918 9,034
Residential real estate: | Multi-family mortgage    
Allowance for Loan and Lease Losses [Roll Forward]    
Balance at beginning of period 8,842 6,490
(Reversal of) provision for credit losses on loans HFI 131 129
Recoveries of loans previously charged-off 0 0
Loans charged off 0 0
Balance at end of period 8,973 6,619
Commercial real estate: | Owner-occupied    
Allowance for Loan and Lease Losses [Roll Forward]    
Balance at beginning of period 10,653 7,783
(Reversal of) provision for credit losses on loans HFI 56 103
Recoveries of loans previously charged-off 40 66
Loans charged off 0 0
Balance at end of period 10,749 7,952
Commercial real estate: | Non-owner occupied    
Allowance for Loan and Lease Losses [Roll Forward]    
Balance at beginning of period 22,965 21,916
(Reversal of) provision for credit losses on loans HFI 984 (48)
Recoveries of loans previously charged-off 0 0
Loans charged off 0 0
Balance at end of period 23,949 21,868
Consumer and other    
Allowance for Loan and Lease Losses [Roll Forward]    
Balance at beginning of period 16,922 13,454
(Reversal of) provision for credit losses on loans HFI 914 993
Recoveries of loans previously charged-off 306 239
Loans charged off (772) (705)
Balance at end of period $ 17,370 $ 13,981
v3.24.1.u1
Other Real Estate Owned - Schedule of Other Real Estate Owned (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Other Real Estate [Roll Forward]    
Balance at beginning of period $ 3,192 $ 5,794
Transfers from loans 753 235
Proceeds from sale of other real estate owned (389) (2,031)
Gain on sale of other real estate owned 57 87
Balance at end of period $ 3,613 $ 4,085
v3.24.1.u1
Other Real Estate Owned - Narrative (Details) - Residential Real Estate Properties - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Real Estate Properties [Line Items]    
Foreclosed residential real estate properties $ 2,344 $ 2,414
Total foreclosure proceedings in process $ 4,330 $ 3,377
v3.24.1.u1
Leases - Narrative (Details)
 3 Months Ended
Mar. 31, 2024
lease
Lessee, Lease, Description [Line Items]  
Lessee, number of operating leases 48
Lessee, number of finance leases 1
Minimum  
Lessee, Lease, Description [Line Items]  
Lessee, operating and finance lease, renewal term 20 years
v3.24.1.u1
Leases - Schedule of Information Related to Company's Leases (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Leases [Abstract]    
Operating leases $ 51,421 $ 54,295
Finance leases 1,228 1,256
Total right-of-use assets 52,649 55,551
Operating leases 64,562 67,643
Finance leases 1,302 1,326
Total lease liabilities $ 65,864 $ 68,969
Weighted average remaining lease term (in years) - operating 11 years 6 months 11 years 7 months 6 days
Weighted average remaining lease term (in years) - finance 11 years 1 month 6 days 11 years 4 months 24 days
Weighted average discount rate - operating 3.40% 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
v3.24.1.u1
Leases - Schedule of Lease Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Leases [Abstract]    
Amortization of right-of-use asset $ 1,927 $ 1,815
Short-term lease cost 97 121
Variable lease cost 336 298
Gain on lease modifications and terminations 0 (72)
Interest on lease liabilities 6 6
Amortization of right-of-use asset 28 28
Sublease income (172) (281)
Total lease cost $ 2,222 $ 1,915
v3.24.1.u1
Leases - Schedule of Maturity Analysis of Operating and Finance Lease Liabilities (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Operating Leases    
March 31, 2025 $ 6,358  
March 31, 2026 8,454  
March 31, 2027 8,314  
March 31, 2028 7,864  
March 31, 2029 6,939  
Thereafter 44,094  
Total undiscounted future minimum lease payments 82,023  
Less: imputed interest (17,461)  
Operating leases 64,562 $ 67,643
Finance Lease    
March 31, 2025 90  
March 31, 2026 121  
March 31, 2027 123  
March 31, 2028 125  
March 31, 2029 127  
Thereafter 850  
Total undiscounted future minimum lease payments 1,436  
Less: imputed interest (134)  
Finance leases $ 1,302 $ 1,326
v3.24.1.u1
Mortgage Servicing Rights - Schedule of Changes in Mortgage Servicing Rights (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Servicing Asset at Fair Value, Amount [Roll Forward]    
Carrying value at beginning of period $ 164,249 $ 168,365
Capitalization 1,131 1,788
Change in fair value:    
Due to payoffs/paydowns (2,724) (2,520)
Due to change in valuation inputs or assumptions 3,018 (2,754)
Carrying value at end of period $ 165,674 $ 164,879
v3.24.1.u1
Mortgage Servicing Rights - Schedule of Servicing Income and Expense Included in Mortgage Banking Income (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Transfers and Servicing of Financial Assets [Abstract]    
Servicing income $ 7,347 $ 7,768
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
Change in fair value of mortgage servicing rights $ 294 $ (5,274)
Change in fair value of derivative hedging instruments (3,335) 1,867
Servicing income 4,306 4,361
Servicing expenses 1,947 1,883
Net servicing income (loss) $ 2,359 $ 2,478
v3.24.1.u1
Mortgage Servicing Rights - Schedule of Data and Key Economic Assumptions Related to Mortgage Servicing Rights (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2024
Dec. 31, 2023
Transfers and Servicing of Financial Assets [Abstract]    
Unpaid principal balance of mortgage loans sold and serviced for others $ 10,651,075 $ 10,762,906
Weighted-average prepayment speed (CPR) 6.06% 6.19%
Estimated impact on fair value of a 10% increase $ (4,383) $ (4,616)
Estimated impact on fair value of a 20% increase $ (8,490) $ (8,924)
Discount rate 10.20% 9.62%
Estimated impact on fair value of a 100 bp increase $ (7,633) $ (7,637)
Estimated impact on fair value of a 200 bp increase $ (14,617) $ (14,624)
Weighted-average coupon interest rate 3.50% 3.47%
Weighted-average servicing fee (basis points) 0.27% 0.27%
Weighted-average remaining maturity (in months) 335 months 334 months
v3.24.1.u1
Mortgage Servicing Rights - Narrative (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Transfers and Servicing of Financial Assets [Abstract]    
Mortgage escrow deposit $ 92,350 $ 63,591
v3.24.1.u1
Income Taxes - Schedule of Reconciliation of Income Taxes (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Income Tax Disclosure [Abstract]    
Federal taxes calculated at statutory rate $ 7,192 $ 9,676
Increase (decrease) resulting from:    
State taxes, net of federal benefit 133 251
Expense from equity based compensation 55 115
Municipal interest income, net of interest disallowance (373) (456)
Bank-owned life insurance (90) (127)
Section 162(m) limitation 160 127
Other (777) 111
Income tax expense, as reported $ 6,300 $ 9,697
Federal taxes calculated at statutory rate, percent 21.00% 21.00%
Percentage increase (decrease) resulting from:    
State taxes, net of federal benefit 0.40% 0.60%
Expense from equity based compensation 0.20% 0.30%
Municipal interest income, net of interest disallowance (1.10%) (1.00%)
Bank-owned life insurance (0.30%) (0.30%)
Section 162(m) limitation 0.50% 0.20%
Other (2.30%) 0.20%
Total 18.40% 21.00%
v3.24.1.u1
Commitments and Contingencies - Schedule of Financial Instruments with Off-Balance Sheet Credit Risk (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]    
Balance at end of period $ 2,857,098 $ 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 2,771,611 2,906,016
Letters of credit    
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]    
Balance at end of period $ 85,487 $ 77,055
v3.24.1.u1
Commitments and Contingencies - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]      
Floating interest rate loan commitments $ 2,388,134   $ 2,459,669
Total principal amount of loans repurchased or indemnified $ 2,078 $ 3,326  
v3.24.1.u1
Commitments and Contingencies - Schedule of Allowance of Credit Losses on Unfunded Commitments (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Commitments and Contingencies [Roll Forward]    
Balance at beginning of period $ 150,326 $ 134,192
Balance at end of period 151,667 138,809
Unfunded Commitments    
Commitments and Contingencies [Roll Forward]    
Balance at beginning of period 8,770 22,969
Reversal of credit losses on unfunded commitments (1,070) (4,506)
Balance at end of period $ 7,700 $ 18,463
v3.24.1.u1
Commitments and Contingencies - Schedule of Activity in the Repurchase Reserve (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Commitments and Contingencies [Roll Forward]    
Balance at beginning of period $ 899 $ 1,621
Provision for (reversal of) loan repurchases or indemnifications 50 (250)
Losses on loans repurchased or indemnified (19) (13)
Balance at end of period $ 930 $ 1,358
v3.24.1.u1
Derivatives - Narrative (Details) - USD ($)
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Derivative [Line Items]      
Cash collateral pledged on derivatives $ 13,585,000   $ 14,042,000
Designated as hedging | Money market and savings deposits      
Derivative [Line Items]      
Terminated fair value hedge decrease amount (2,745,000)    
Designated as hedging | Interest expense on deposits      
Derivative [Line Items]      
Gain (loss) included in income statement 247,000 $ 197,000  
Terminated fair value hedge increase amount (1,843,000)    
Interest Rate Swap | Fixed Rate Money Market Deposits | Designated as hedging      
Derivative [Line Items]      
Notional Amount     200,000,000
Estimated fair value $ (4,588,000)   (4,497,000)
Interest Rate Swap | Subordinated debt, net | Designated as hedging      
Derivative [Line Items]      
Notional Amount     100,000,000
Estimated fair value     $ (673,000)
v3.24.1.u1
Derivatives - Schedule Income Included In Interest Expense On Borrowings And Deposits (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Derivatives, Fair Value [Line Items]    
Interest (expense) income, net $ 99,490 $ 103,660
Interest Rate Swap | Designated as Hedging Instrument    
Derivatives, Fair Value [Line Items]    
Interest (expense) income, net (645) (2,268)
Interest Rate Swap | Designated as Hedging Instrument | Fixed Rate Money Market Deposits    
Derivatives, Fair Value [Line Items]    
Interest (expense) income, net 0 (1,508)
Interest Rate Swap | Designated as Hedging Instrument | Subordinated debt, net    
Derivatives, Fair Value [Line Items]    
Interest (expense) income, net $ (645) $ (760)
v3.24.1.u1
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, net  
Derivative [Line Items]  
Unamortized subordinated debt issuance costs $ 612
v3.24.1.u1
Derivatives - Schedule of Derivative Financial Instruments (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Not designated as hedging    
Derivatives, Fair Value [Line Items]    
Notional Amount $ 1,143,410 $ 1,052,082
Asset 37,998 34,159
Liability (36,404) (33,045)
Not designated as hedging | Interest rate contracts    
Derivatives, Fair Value [Line Items]    
Notional Amount 551,095 569,865
Asset 35,925 32,179
Liability (35,954) (32,184)
Not designated as hedging | Forward commitments    
Derivatives, Fair Value [Line Items]    
Notional Amount 226,500 159,000
Asset 0 0
Liability (261) (861)
Not designated as hedging | Interest rate-lock commitments    
Derivatives, Fair Value [Line Items]    
Notional Amount 130,315 69,217
Asset 2,073 1,203
Liability 0 0
Not designated as hedging | Futures contracts    
Derivatives, Fair Value [Line Items]    
Notional Amount 235,500 254,000
Asset 0 777
Liability (189) 0
Designated as hedging | Interest Rate Swap | Subordinated debt, net    
Derivatives, Fair Value [Line Items]    
Notional Amount 30,000  
Asset $ 343  
Derivative Asset, Statement of Financial Position [Extensible Enumeration] Other assets  
Liability   $ 579
Derivative Liability, Statement of Financial Position [Extensible Enumeration]   Accrued expenses and other liabilities
v3.24.1.u1
Derivatives - Schedule of Gains (Losses) Included in the Consolidated Statements of Income Related to Derivative Financial Instruments (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Derivatives, Fair Value [Line Items]    
Amount of loss recognized in other comprehensive loss, net of tax benefit of $62 and $70 $ (174) $ (197)
Other comprehensive income (loss), cash flow hedge, gain (loss), before reclassification, tax (62) (70)
Designated as hedging    
Derivatives, Fair Value [Line Items]    
Amount of loss recognized in other comprehensive loss, net of tax benefit of $62 and $70 (174) (197)
Not designated as hedging    
Derivatives, Fair Value [Line Items]    
Gains (losses) on derivative financial instruments (2,028) 2,185
Not designated as hedging | Interest rate-lock commitments    
Derivatives, Fair Value [Line Items]    
Gains (losses) on derivative financial instruments 869 1,207
Not designated as hedging | Forward commitments    
Derivatives, Fair Value [Line Items]    
Gains (losses) on derivative financial instruments 100 (295)
Not designated as hedging | Futures contracts    
Derivatives, Fair Value [Line Items]    
Gains (losses) on derivative financial instruments (2,997) 1,937
Not designated as hedging | Option contracts    
Derivatives, Fair Value [Line Items]    
Gains (losses) on derivative financial instruments $ 0 $ (664)
v3.24.1.u1
Derivatives (Details) - Not designated as hedging - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Notional Amount $ 1,143,410 $ 1,052,082
Asset 37,998 34,159
Liability 36,404 33,045
Interest rate contracts    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Notional Amount 551,095 569,865
Asset 35,925 32,179
Liability 35,954 32,184
Forward commitments    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Notional Amount 226,500 159,000
Asset 0 0
Liability 261 861
Interest rate-lock commitments    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Notional Amount 130,315 69,217
Asset 2,073 1,203
Liability 0 0
Futures contracts    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Notional Amount 235,500 254,000
Asset 0 777
Liability $ 189 $ 0
v3.24.1.u1
Derivatives - Schedule of Offsetting Derivative Assets and Liabilities (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Offsetting Derivative Assets    
Gross amounts recognized $ 36,145 $ 31,468
Gross amounts offset in the consolidated balance sheets 0 0
Net amounts presented in the consolidated balance sheets 36,145 31,468
Gross amounts not offset in the consolidated balance sheets, less financial instruments 123 6,502
Gross amounts not offset in the consolidated balance sheets, less financial collateral pledged 0 0
Net amounts 36,022 24,966
Offsetting Derivative Liabilities    
Gross amounts recognized 5,386 11,330
Gross amounts offset in the consolidated balance sheets 0 0
Net amounts presented in the consolidated balance sheets 5,386 11,330
Gross amounts not offset in the consolidated balance sheets, less financial instruments 123 6,502
Gross amounts not offset in the consolidated balance sheets, less financial collateral pledged 5,263 4,828
Net amounts $ 0 $ 0
v3.24.1.u1
Fair Value of Financial Instruments - Schedule of Balances and Levels of Assets Measured at Fair Value on Recurring Basis (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Financial assets:    
Available-for-sale securities: $ 1,464,682 $ 1,471,973
Mortgage-backed securities - residential    
Financial assets:    
Available-for-sale securities: 826,214 896,971
Mortgage-backed securities - commercial    
Financial assets:    
Available-for-sale securities: 16,615 16,961
Municipal securities    
Financial assets:    
Available-for-sale securities: 171,672 242,263
U.S. Treasury securities    
Financial assets:    
Available-for-sale securities: 30,857 108,496
Corporate securities    
Financial assets:    
Available-for-sale securities: 3,397 3,326
Recurring Basis    
Financial assets:    
Total securities 1,464,682 1,471,973
Loans held for sale, at fair value 61,828 46,618
Mortgage servicing rights 165,674 164,249
Derivatives 38,341 34,738
Financial liabilities:    
Derivatives 36,404 38,215
Recurring Basis | U.S. government agency securities    
Financial assets:    
Available-for-sale securities: 415,927 203,956
Recurring Basis | Mortgage-backed securities - residential    
Financial assets:    
Available-for-sale securities: 826,214 896,971
Recurring Basis | Mortgage-backed securities - commercial    
Financial assets:    
Available-for-sale securities: 16,615 16,961
Recurring Basis | Municipal securities    
Financial assets:    
Available-for-sale securities: 171,672 242,263
Recurring Basis | U.S. Treasury securities    
Financial assets:    
Available-for-sale securities: 30,857 108,496
Recurring Basis | Corporate securities    
Financial assets:    
Available-for-sale securities: 3,397 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:    
Available-for-sale securities: 0 0
Recurring Basis | Quoted prices in active markets for identical assets (liabilities) (level 1) | Mortgage-backed securities - residential    
Financial assets:    
Available-for-sale securities: 0 0
Recurring Basis | Quoted prices in active markets for identical assets (liabilities) (level 1) | Mortgage-backed securities - commercial    
Financial assets:    
Available-for-sale securities: 0 0
Recurring Basis | Quoted prices in active markets for identical assets (liabilities) (level 1) | Municipal securities    
Financial assets:    
Available-for-sale securities: 0 0
Recurring Basis | Quoted prices in active markets for identical assets (liabilities) (level 1) | U.S. Treasury securities    
Financial assets:    
Available-for-sale securities: 0 0
Recurring Basis | Quoted prices in active markets for identical assets (liabilities) (level 1) | Corporate securities    
Financial assets:    
Available-for-sale securities: 0 0
Recurring Basis | Significant other observable inputs (level 2)    
Financial assets:    
Total securities 1,464,682 1,471,973
Loans held for sale, at fair value 61,828 46,618
Mortgage servicing rights 0 0
Derivatives 38,341 34,738
Financial liabilities:    
Derivatives 36,404 38,215
Recurring Basis | Significant other observable inputs (level 2) | U.S. government agency securities    
Financial assets:    
Available-for-sale securities: 415,927 203,956
Recurring Basis | Significant other observable inputs (level 2) | Mortgage-backed securities - residential    
Financial assets:    
Available-for-sale securities: 826,214 896,971
Recurring Basis | Significant other observable inputs (level 2) | Mortgage-backed securities - commercial    
Financial assets:    
Available-for-sale securities: 16,615 16,961
Recurring Basis | Significant other observable inputs (level 2) | Municipal securities    
Financial assets:    
Available-for-sale securities: 171,672 242,263
Recurring Basis | Significant other observable inputs (level 2) | U.S. Treasury securities    
Financial assets:    
Available-for-sale securities: 30,857 108,496
Recurring Basis | Significant other observable inputs (level 2) | Corporate securities    
Financial assets:    
Available-for-sale securities: 3,397 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 165,674 164,249
Derivatives 0 0
Financial liabilities:    
Derivatives 0 0
Recurring Basis | Significant unobservable inputs (level 3) | U.S. government agency securities    
Financial assets:    
Available-for-sale securities: 0 0
Recurring Basis | Significant unobservable inputs (level 3) | Mortgage-backed securities - residential    
Financial assets:    
Available-for-sale securities: 0 0
Recurring Basis | Significant unobservable inputs (level 3) | Mortgage-backed securities - commercial    
Financial assets:    
Available-for-sale securities: 0 0
Recurring Basis | Significant unobservable inputs (level 3) | Municipal securities    
Financial assets:    
Available-for-sale securities: 0 0
Recurring Basis | Significant unobservable inputs (level 3) | U.S. Treasury securities    
Financial assets:    
Available-for-sale securities: 0 0
Recurring Basis | Significant unobservable inputs (level 3) | Corporate securities    
Financial assets:    
Available-for-sale securities: $ 0 $ 0
v3.24.1.u1
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
Mar. 31, 2024
Dec. 31, 2023
Financial assets:    
Other real estate owned $ 644 $ 2,400
Financing receivable, collateral dependent loans, recorded investment 8,403 13,041
Commercial and industrial    
Financial assets:    
Financing receivable, collateral dependent loans, recorded investment 5,303 12,338
Construction    
Financial assets:    
Financing receivable, collateral dependent loans, recorded investment 1,288 203
Residential real estate: | 1-to-4 family mortgage    
Financial assets:    
Financing receivable, collateral dependent loans, recorded investment 499 429
Residential real estate: | Residential line of credit    
Financial assets:    
Financing receivable, collateral dependent loans, recorded investment 561  
Commercial real estate | Owner-occupied    
Financial assets:    
Financing receivable, collateral dependent loans, recorded investment 752  
Consumer and other    
Financial assets:    
Financing receivable, collateral dependent loans, recorded investment   71
Quoted prices in active markets for identical assets (liabilities) (level 1)    
Financial assets:    
Other real estate owned 0 0
Financing receivable, collateral dependent loans, recorded investment 0 0
Quoted prices in active markets for identical assets (liabilities) (level 1) | Commercial and industrial    
Financial assets:    
Financing receivable, collateral dependent loans, recorded investment 0 0
Quoted prices in active markets for identical assets (liabilities) (level 1) | Construction    
Financial assets:    
Financing receivable, collateral dependent loans, recorded investment 0 0
Quoted prices in active markets for identical assets (liabilities) (level 1) | Residential real estate: | 1-to-4 family mortgage    
Financial assets:    
Financing receivable, collateral dependent loans, recorded investment 0 0
Quoted prices in active markets for identical assets (liabilities) (level 1) | Residential real estate: | Residential line of credit    
Financial assets:    
Financing receivable, collateral dependent loans, recorded investment 0  
Quoted prices in active markets for identical assets (liabilities) (level 1) | Commercial real estate | Owner-occupied    
Financial assets:    
Financing receivable, collateral dependent loans, recorded investment 0  
Quoted prices in active markets for identical assets (liabilities) (level 1) | Consumer and other    
Financial assets:    
Financing receivable, collateral dependent loans, recorded investment   0
Significant other observable inputs (level 2)    
Financial assets:    
Other real estate owned 0 0
Financing receivable, collateral dependent loans, recorded investment 0 0
Significant other observable inputs (level 2) | Commercial and industrial    
Financial assets:    
Financing receivable, collateral dependent loans, recorded investment 0 0
Significant other observable inputs (level 2) | Construction    
Financial assets:    
Financing receivable, collateral dependent loans, recorded investment 0 0
Significant other observable inputs (level 2) | Residential real estate: | 1-to-4 family mortgage    
Financial assets:    
Financing receivable, collateral dependent loans, recorded investment 0 0
Significant other observable inputs (level 2) | Residential real estate: | Residential line of credit    
Financial assets:    
Financing receivable, collateral dependent loans, recorded investment 0  
Significant other observable inputs (level 2) | Commercial real estate | Owner-occupied    
Financial assets:    
Financing receivable, collateral dependent loans, recorded investment 0  
Significant other observable inputs (level 2) | Consumer and other    
Financial assets:    
Financing receivable, collateral dependent loans, recorded investment   0
Significant unobservable inputs (level 3)    
Financial assets:    
Other real estate owned 644 2,400
Financing receivable, collateral dependent loans, recorded investment 8,403 13,041
Significant unobservable inputs (level 3) | Commercial and industrial    
Financial assets:    
Financing receivable, collateral dependent loans, recorded investment 5,303 12,338
Significant unobservable inputs (level 3) | Construction    
Financial assets:    
Financing receivable, collateral dependent loans, recorded investment 1,288 203
Significant unobservable inputs (level 3) | Residential real estate: | 1-to-4 family mortgage    
Financial assets:    
Financing receivable, collateral dependent loans, recorded investment 499 429
Significant unobservable inputs (level 3) | Residential real estate: | Residential line of credit    
Financial assets:    
Financing receivable, collateral dependent loans, recorded investment 561  
Significant unobservable inputs (level 3) | Commercial real estate | Owner-occupied    
Financial assets:    
Financing receivable, collateral dependent loans, recorded investment $ 752  
Significant unobservable inputs (level 3) | Consumer and other    
Financial assets:    
Financing receivable, collateral dependent loans, recorded investment   $ 71
v3.24.1.u1
Fair Value of Financial Instruments - Schedule of Changes in Fair Value Associated with Commercial Loans Held for Sale (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
USD ($)
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
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 $ 34,357
Change in fair value:  
Paydowns and payoffs (21,890)
Changes in valuation included in other noninterest income 0
Carrying value at end of period 12,467
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 (3,867)
Change in fair value:  
Paydowns and payoffs 0
Changes in valuation included in other noninterest income 910
Carrying value at end of period (2,957)
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 30,490
Change in fair value:  
Paydowns and payoffs (21,890)
Changes in valuation included in other noninterest income 910
Carrying value at end of period $ 9,510
v3.24.1.u1
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
Mar. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Financing receivable, collateral dependent loans, recorded investment $ 8,403 $ 13,041
Other real estate owned 644 2,400
Significant unobservable inputs (level 3)    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Financing receivable, collateral dependent loans, recorded investment 8,403 13,041
Other real estate owned $ 644 $ 2,400
Significant unobservable inputs (level 3) | Minimum    
Fair Value Measurement Inputs and Valuation Techniques [Line Items]    
Collateral dependent loans, measurement input 0.09 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 0.58 0.61
Other real estate owned, measurement input 0.15 0.15
v3.24.1.u1
Fair Value of Financial Instruments - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 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 $ 203 $ (51)  
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 1,821 $ (421)  
Level 3 | Non-recurring Basis      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Amortized costs of collateral dependent loans $ 12,754   $ 18,166
v3.24.1.u1
Fair Value of Financial Instruments - Schedule of Loans Held for Sale at Fair Value (Details) - Recurring Basis - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total loans held for sale $ 82,704 $ 67,847
Other | Fair Value Option    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Mortgage loans held for sale 61,828 46,618
GNMA    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Mortgage loans held for sale $ 20,876 $ 21,229
v3.24.1.u1
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
Mar. 31, 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 $ 61,828 $ 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 60,516 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 $ 1,312 $ 1,109
v3.24.1.u1
Fair Value of Financial Instruments - Schedule of Estimated Fair Values and Carrying Values of Financial Instruments (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Financial assets:    
Net loans held for investment $ 9,137,242 $ 9,258,457
Interest receivable 53,506 52,715
Carrying amount    
Financial assets:    
Cash and cash equivalents 870,730 810,932
Investment securities 1,464,682 1,471,973
Net loans held for investment 9,137,242 9,258,457
Loans held for sale, at fair value 61,828 46,618
Interest receivable 53,506 52,715
Mortgage servicing rights 165,674 164,249
Derivatives 38,341 34,738
Financial liabilities:    
Without stated maturities 8,902,546 8,927,654
With stated maturities 1,602,382 1,620,633
Securities sold under agreements to repurchase and federal funds purchased 78,229 108,764
Bank Term Funding Program 130,000 130,000
Subordinated debt, net 130,414 129,645
Interest payable 20,504 18,809
Derivatives 36,404 38,215
 Fair Value    
Financial assets:    
Cash and cash equivalents 870,730 810,932
Investment securities 1,464,682 1,471,973
Net loans held for investment 8,809,892 9,068,518
Loans held for sale, at fair value 61,828 46,618
Interest receivable 53,506 52,715
Mortgage servicing rights 165,674 164,249
Derivatives 38,341 34,738
Financial liabilities:    
Without stated maturities 8,902,546 8,927,654
With stated maturities 1,594,332 1,614,400
Securities sold under agreements to repurchase and federal funds purchased 78,229 108,764
Bank Term Funding Program 129,462 130,000
Subordinated debt, net 123,284 122,671
Interest payable 20,504 18,809
Derivatives 36,404 38,215
 Fair Value | Level 1    
Financial assets:    
Cash and cash equivalents 870,730 810,932
Investment securities 0 0
Net loans held for investment 0 0
Loans held for sale, at fair value 0 0
Interest receivable 892 388
Mortgage servicing rights 0 0
Derivatives 0 0
Financial liabilities:    
Without stated maturities 8,902,546 8,927,654
With stated maturities 0 0
Securities sold under agreements to repurchase and federal funds purchased 78,229 108,764
Bank Term Funding Program 0 0
Subordinated debt, net 0 0
Interest payable 4,187 4,104
Derivatives 0 0
 Fair Value | Level 2    
Financial assets:    
Cash and cash equivalents 0 0
Investment securities 1,464,682 1,471,973
Net loans held for investment 0 0
Loans held for sale, at fair value 61,828 46,618
Interest receivable 6,774 8,551
Mortgage servicing rights 0 0
Derivatives 38,341 34,738
Financial liabilities:    
Without stated maturities 0 0
With stated maturities 1,594,332 1,614,400
Securities sold under agreements to repurchase and federal funds purchased 0 0
Bank Term Funding Program 129,462 130,000
Subordinated debt, net 0 0
Interest payable 15,942 13,205
Derivatives 36,404 38,215
 Fair Value | Level 3    
Financial assets:    
Cash and cash equivalents 0 0
Investment securities 0 0
Net loans held for investment 8,809,892 9,068,518
Loans held for sale, at fair value 0 0
Interest receivable 45,840 43,776
Mortgage servicing rights 165,674 164,249
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 0
Subordinated debt, net 123,284 122,671
Interest payable 375 1,500
Derivatives $ 0 $ 0
v3.24.1.u1
Segment Reporting - Schedule of Segment Financial Information (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Segment Reporting Information [Line Items]      
Net interest income $ 99,490 $ 103,660  
Provisions for credit losses 782 491  
Mortgage banking income 15,626 15,493  
Change in fair value of mortgage servicing rights, net of hedging (3,041) (3,407)  
Other noninterest (loss) income (4,623) 11,263  
Depreciation and amortization 2,841 2,228  
Amortization of intangibles 789 990  
Other noninterest expense 68,790 77,222  
Income before income taxes 34,250 46,078  
Income tax expense 6,300 9,697  
Net income attributable to FB Financial Corporation and noncontrolling interest 27,950 36,381  
Net income applicable to noncontrolling interest 0 0  
Net income applicable to FB Financial Corporation 27,950 36,381  
Total assets 12,548,320 13,101,147 $ 12,604,403
Goodwill 242,561 242,561 $ 242,561
Banking      
Segment Reporting Information [Line Items]      
Net interest income 97,094 101,287  
Provisions for credit losses 838 212  
Mortgage banking income 0 0  
Change in fair value of mortgage servicing rights, net of hedging 0 0  
Other noninterest (loss) income (4,794) 11,493  
Depreciation and amortization 2,708 2,049  
Amortization of intangibles 789 990  
Other noninterest expense 56,847 63,713  
Income before income taxes 31,118 45,816  
Total assets 11,979,904 12,534,348  
Goodwill 242,561 242,561  
Mortgage      
Segment Reporting Information [Line Items]      
Net interest income 2,396 2,373  
Provisions for credit losses (56) 279  
Mortgage banking income 15,626 15,493  
Change in fair value of mortgage servicing rights, net of hedging (3,041) (3,407)  
Other noninterest (loss) income 171 (230)  
Depreciation and amortization 133 179  
Amortization of intangibles 0 0  
Other noninterest expense 11,943 13,509  
Income before income taxes 3,132 262  
Total assets 568,416 566,799  
Goodwill $ 0 $ 0  
v3.24.1.u1
Segment Reporting - Narrative (Details)
 3 Months Ended
Mar. 31, 2024
segment
Segment Reporting [Abstract]  
Number of reporting segments 2
v3.24.1.u1
Minimum Capital Requirements - Schedule of Actual and Required Capital Amounts and Ratios (Details)
$ in Thousands
Mar. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
FB Financial Corporation    
Total Capital (to risk-weighted assets)    
Actual, amount $ 1,657,500 $ 1,635,848
Actual, ratio 0.150 0.145
Minimum capital adequacy with capital buffer, amount $ 1,161,748 $ 1,182,028
Minimum capital adequacy with capital buffer, ratio 0.105 0.105
Tier 1 Capital (to risk-weighted assets)    
Actual, amount $ 1,419,546 $ 1,405,890
Actual, ratio 0.128 0.125
Minimum capital adequacy with capital buffer, amount $ 940,462 $ 956,880
Minimum capital adequacy with capital buffer, ratio 0.085 0.085
Tier 1 Capital (to average assets)    
Actual, amount $ 1,419,546 $ 1,405,890
Actual, ratio 0.113 0.113
Minimum capital adequacy with capital buffer, amount $ 500,450 $ 496,485
Minimum capital adequacy with capital buffer. ratio 0.040 0.040
Common Equity Tier 1 Capital (to risk-weighted assets)    
Actual, amount $ 1,389,546 $ 1,375,890
Actual ratio 0.126 0.122
Minimum capital adequacy with capital buffer, amount $ 774,498 $ 788,018
Minimum capital adequacy with capital buffer, ratio 0.070 0.070
FirstBank    
Total Capital (to risk-weighted assets)    
Actual, amount $ 1,622,562 $ 1,600,950
Actual, ratio 0.147 0.142
Minimum capital adequacy with capital buffer, amount $ 1,159,716 $ 1,179,886
Minimum capital adequacy with capital buffer, ratio 0.105 0.105
To be well capitalized under prompt corrective action provisions, Amount $ 1,104,491 $ 1,123,701
To be well capitalized under prompt corrective action provisions, Ratio 0.100 0.100
Tier 1 Capital (to risk-weighted assets)    
Actual, amount $ 1,384,847 $ 1,370,991
Actual, ratio 0.125 0.122
Minimum capital adequacy with capital buffer, amount $ 938,818 $ 955,145
Minimum capital adequacy with capital buffer, ratio 0.085 0.085
To be well capitalized under prompt corrective action provisions, Amount $ 883,593 $ 898,960
To be well capitalized under prompt corrective action provisions, ratio 0.080 0.080
Tier 1 Capital (to average assets)    
Actual, amount $ 1,384,847 $ 1,370,991
Actual, ratio 0.111 0.111
Minimum capital adequacy with capital buffer, amount $ 499,885 $ 495,761
Minimum capital adequacy with capital buffer. ratio 0.040 0.040
To be well capitalized under prompt corrective action provisions, amount $ 624,857 $ 619,701
To be well capitalized under prompt corrective action provisions, ratio 0.050 0.050
Common Equity Tier 1 Capital (to risk-weighted assets)    
Actual, amount $ 1,384,847 $ 1,370,991
Actual ratio 0.125 0.122
Minimum capital adequacy with capital buffer, amount $ 773,144 $ 786,590
Minimum capital adequacy with capital buffer, ratio 0.070 0.070
To be well capitalized under prompt corrective action provisions, amount $ 717,919 $ 730,405
To be well capitalized under prompt corrective action provisions, ratio 0.065 0.065
v3.24.1.u1
Stock-Based Compensation - Schedule of Changes in Restricted Stock Units (Details) - RSUs
 3 Months Ended
Mar. 31, 2024
$ / shares
shares
Restricted Stock Units Outstanding  
Balance at beginning of period (in shares) | shares 323,520,000
Granted (in shares) | shares 155,047,000
Vested (in shares) | shares (18,777,000)
Forfeited (in shares) | shares (853,000)
Balance at end of period (in shares) | shares 458,937,000
Weighted Average Grant Date Fair Value  
Balance at beginning of period (in dollars per share) | $ / shares $ 37.52
Granted (in dollars per share) | $ / shares 35.60
Vested (in dollars per share) | $ / shares 35.55
Forfeited (in dollars per share) | $ / shares 40.19
Balance at end of period (in dollars per share) | $ / shares $ 36.95
v3.24.1.u1
Stock-Based Compensation - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Compensation cost related to nonvested awards $ 2,820 $ 2,285  
Dividends declared not paid on restricted stock units 87 48  
Proceeds from employee payroll withholdings 388 305  
RSUs      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Fair value of restricted stock units vested and released 668 4,591  
Compensation cost related to nonvested awards 2,706 1,706  
Unrecognized compensation cost related to nonvested awards $ 10,614    
Expected weighted-average period to be recognized 2 years 2 months 26 days    
Dividends declared not paid on restricted stock units $ 410   $ 353
RSUs | 2016-LTIP Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Number of shares available for issuable (in shares) 1,459,258    
RSUs | Directors      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Compensation cost related to nonvested awards $ 199 175  
PSUs      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Compensation cost related to nonvested awards 114 $ 579  
Unrecognized compensation cost related to nonvested awards $ 14,786    
Expected weighted-average period to be recognized 2 years 4 months 20 days    
Criteria period 3 years    
Maximum unrecognized compensation cost, payout percentage 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%    
PSUs | Tranche Three      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award vesting, percentage 100.00%    
PSUs | Minimum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award vesting, percentage 0.00%    
PSUs | Maximum      
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    
Purchase price percentage of subsequent offering periods 95.00%    
Maximum number of shares per participant (in shares) 725    
Shares issued under plan (in shares) 10,606 8,214  
Number of shares reserved for issuance (in shares) 2,283,620    
v3.24.1.u1
Stock-Based Compensation - Schedule of Changes in Performance Stock Units (Details) - PSUs
 3 Months Ended
Mar. 31, 2024
$ / shares
shares
Performance Stock Units Outstanding  
Balance at beginning of period (in shares) | shares 176,163
Granted (in shares) | shares 97,738
Performance adjustment (in shares) | shares (12,356)
Vested (in shares) | shares (34,915)
Forfeited or expired (in shares) | shares (969)
Balance at end of period (in shares) | shares 225,661
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) 43.20
Vested (in dollars per share) 43.20
Forfeited (in dollars per share) 40.00
Balance at end of period (in dollars per share) $ 38.09
Criteria period 3 years
Minimum  
Weighted Average Grant Date Fair Value  
Award vesting, percentage 0.00%
Maximum  
Weighted Average Grant Date Fair Value  
Award vesting, percentage 200.00%
Tranche Three  
Weighted Average Grant Date Fair Value  
Granted (in dollars per share) $ 35.60
Award vesting, percentage 100.00%
v3.24.1.u1
Stock-Based Compensation - Schedule of Share-Based Payment Arrangement, Performance Shares, Activity (Details) - PSUs
 3 Months Ended
Mar. 31, 2024
$ / shares
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Granted (in dollars per share) $ 35.60
Criteria period 3 years
Minimum  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Award vesting, percentage 0.00%
Maximum  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Award vesting, percentage 200.00%
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 49,836
Award vesting, percentage 0.00%
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 78,087
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 97,738
Award vesting, percentage 100.00%
v3.24.1.u1
Related Party Transactions - Schedule of Loans Analysis to Executive Officers, Certain Management, Bank Directors and Related Interests (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
USD ($)
Financing Receivable, Related Parties [Roll Forward]  
Loans outstanding at January 1, 2024 $ 49,073
New loans and advances 1,894
Change in related party status 0
Repayments (1,474)
Loans outstanding at March 31, 2024 $ 49,493
v3.24.1.u1
Related Party Transactions - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Related Party Transaction [Line Items]      
Deposits from related parties $ 338,935   $ 316,141
Other income 1,710 $ 3,550  
Master loan purchase agreement, maximum amount 250    
Amortized cost $ 1,648,280   1,658,779
Manufactured loan housing securities      
Related Party Transaction [Line Items]      
Loan purchase agreement, term 5 years    
Loans purchased $ 9,225 0  
Amortized cost 41,048   32,154
Preferred Stock      
Related Party Transaction [Line Items]      
Equity security without readily determinable market value 10,000   10,000
Directors      
Related Party Transaction [Line Items]      
Operating lease expense 90 90  
Directors | FBK Aviation, LLC | Aviation Time Sharing Agreements      
Related Party Transaction [Line Items]      
Other income 24 $ 7  
Unfunded Loan Commitment | Certain Executive Officers, Certain Management and Directors and Their Associates      
Related Party Transaction [Line Items]      
Unfunded commitments $ 54,212   $ 44,206