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Home Bancshares (HOMB)

Document and Entity Information

Document and Entity Information - shares9 Months Ended
Sep. 30, 2021Nov. 04, 2021
Cover [Abstract]
Document Type10-Q
Entity Interactive Data CurrentYes
Document Quarterly Reporttrue
Document Transition Reportfalse
Amendment Flagfalse
Document Period End DateSep. 30,
2021
Document Fiscal Year Focus2021
Document Fiscal Period FocusQ3
Entity Registrant NameHOME BANCSHARES, INC.
Entity Central Index Key0001331520
Entity File Number000-51904
Entity Tax Identification Number71-0682831
Entity Incorporation, State or Country CodeAR
Current Fiscal Year End Date--12-31
Entity Current Reporting StatusYes
Entity Shell Companyfalse
Entity Filer CategoryLarge Accelerated Filer
Entity Small Businessfalse
Entity Emerging Growth Companyfalse
Entity Address, Address Line One719 Harkrider, Suite 100
Entity Address, City or TownConway
Entity Address, State or ProvinceAR
Entity Address, Postal Zip Code72032
City Area Code501
Local Phone Number339-2929
Trading SymbolHOMB
Security Exchange NameNASDAQ
Title of 12(b) SecurityCommon Stock, par value $0.01 per share
Entity Common Stock, Shares Outstanding163,845,498

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in ThousandsSep. 30, 2021Dec. 31, 2020
Assets
Cash and due from banks $ 146,378 $ 242,173
Interest-bearing deposits with other banks3,133,878 1,021,615
Cash and cash equivalents3,280,256 1,263,788
Investment securities – available-for-sale, net of allowance for credit losses3,150,608 2,473,781
Loans receivable9,901,100 11,220,721
Allowance for credit losses(238,673)(245,473)
Loans receivable, net9,662,427 10,975,248
Bank premises and equipment, net276,972 278,614
Foreclosed assets held for sale1,171 4,420
Cash value of life insurance104,638 103,519
Accrued interest receivable48,577 60,528
Deferred tax asset, net69,724 70,249
Goodwill973,025 973,025
Core deposit and other intangibles26,466 30,728
Other assets171,192 164,904
Total assets17,765,056 16,398,804
Deposits:
Demand and non-interest-bearing4,139,149 3,266,753
Savings and interest-bearing transaction accounts8,813,326 8,212,240
Time deposits1,050,896 1,246,797
Total deposits14,003,371 12,725,790
Securities sold under agreements to repurchase141,002 168,931
FHLB and other borrowed funds400,000 400,000
Accrued interest payable and other liabilities113,721 127,999
Subordinated debentures370,900 370,326
Total liabilities15,028,994 13,793,046
Stockholders’ equity:
Common stock, par value $0.01; shares authorized 300,000,000 in 2021 and 2020; shares issued and outstanding 164,007,998 in 2021 and 165,095,252 in 20201,640 1,651
Capital surplus1,492,588 1,520,617
Retained earnings1,215,831 1,039,370
Accumulated other comprehensive income26,003 44,120
Total stockholders’ equity2,736,062 2,605,758
Total liabilities and stockholders’ equity $ 17,765,056 $ 16,398,804

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / sharesSep. 30, 2021Dec. 31, 2020
Statement Of Financial Position [Abstract]
Common stock, par value $ 0.01 $ 0.01
Common stock, shares authorized300,000,000 300,000,000
Common stock, shares issued164,007,998 165,095,252
Common stock, shares outstanding164,007,998 165,095,252

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2021Sep. 30, 2020Sep. 30, 2021Sep. 30, 2020
Interest income:
Loans $ 142,609 $ 154,787 $ 435,210 $ 471,931
Investment securities
Taxable8,495 7,227 21,933 25,696
Tax-exempt4,839 4,367 14,815 11,179
Deposits – other banks1,117 252 2,234 1,579
Federal funds sold21
Total interest income157,060 166,633 474,192 510,406
Interest expense:
Interest on deposits5,642 13,200 19,781 52,514
Federal funds purchased13
FHLB and other borrowed funds1,917 2,235 5,688 7,589
Securities sold under agreements to repurchase102 237 399 959
Subordinated debentures4,788 4,823 14,373 14,801
Total interest expense12,449 20,495 40,241 75,876
Net interest income144,611 146,138 433,951 434,530
Provision for credit losses14,000 112,264
Provision for credit losses - unfunded commitments(4,752)16,989
Total credit loss (benefit) expense14,000 (4,752)129,253
Net interest income after provision for credit losses144,611 132,138 438,703 305,277
Non-interest income:
Trust fees479 378 1,445 1,213
Mortgage lending income5,948 10,177 20,317 18,994
Insurance commissions586 271 1,556 1,482
Increase in cash value of life insurance509 548 1,548 1,666
Dividends from FHLB, FRB, FNBB & other2,661 3,433 13,916 11,505
Gain on sale of SBA loans439 1,588 341
(Loss) gain on sale of branches, equipment and other assets, net(34)(27)(86)109
Gain on OREO, net246 470 1,266 982
Gain on securities, net219
Fair value adjustment for marketable securities61 (1,350)7,093 (6,249)
Other income4,322 2,602 15,366 9,760
Total non-interest income29,209 29,951 105,605 77,901
Non-interest expense:
Salaries and employee benefits42,469 41,511 126,990 120,928
Occupancy and equipment9,305 9,566 27,584 28,611
Data processing expense6,024 4,921 17,787 13,861
Merger and acquisition expenses1,006 1,006 711
Other operating expenses16,815 15,714 48,100 49,033
Total non-interest expense75,619 71,712 221,467 213,144
Income before income taxes98,201 90,377 322,841 170,034
Income tax expense23,209 21,057 77,177 37,380
Net income $ 74,992 $ 69,320 $ 245,664 $ 132,654
Basic earnings per share $ 0.46 $ 0.42 $ 1.49 $ 0.80
Diluted earnings per share $ 0.46 $ 0.42 $ 1.49 $ 0.80
Service Charges on Deposit Accounts [Member]
Non-interest income:
Service charges $ 5,941 $ 4,910 $ 16,059 $ 15,837
Other Service Charges and Fees [Member]
Non-interest income:
Service charges $ 8,051 $ 8,539 $ 25,318 $ 22,261

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2021Sep. 30, 2020Sep. 30, 2021Sep. 30, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net income $ 74,992 $ 69,320 $ 245,664 $ 132,654
Net unrealized (loss) gain on available-for-sale securities(4,218)(896)(24,527)29,952
Other comprehensive (loss) income. before tax effect(4,218)(896)(24,527)29,952
Tax effect on other comprehensive (loss) income1,102 234 6,410 (7,828)
Other comprehensive (loss) income(3,116)(662)(18,117)22,124
Comprehensive income $ 71,876 $ 68,658 $ 227,547 $ 154,778

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in ThousandsTotalCumulative Effect Period of Adoption Adjustment [Member]Cumulative Effect Period of Adoption Adjusted Balance [Member]Common Stock [Member]Common Stock [Member]Cumulative Effect Period of Adoption Adjusted Balance [Member]Capital Surplus [Member]Capital Surplus [Member]Cumulative Effect Period of Adoption Adjusted Balance [Member]Retained Earnings [Member]Retained Earnings [Member]Cumulative Effect Period of Adoption Adjustment [Member]Retained Earnings [Member]Cumulative Effect Period of Adoption Adjusted Balance [Member]Accumulated Other Comprehensive Income (Loss) [Member]Accumulated Other Comprehensive Income (Loss) [Member]Cumulative Effect Period of Adoption Adjusted Balance [Member]
Beginning Balance at Dec. 31, 2019 $ 2,511,531 $ 2,467,575 $ 1,664 $ 1,664 $ 1,537,091 $ 1,537,091 $ 956,555 $ 912,599 $ 16,221 $ 16,221
Beginning Balance (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2019 $ (43,956) $ (43,956)
Comprehensive income:
Net income507 507
Other comprehensive income (loss)4,750 4,750
Net issuance of shares of common stock from exercise of stock options422 422
Repurchase of shares of common stock(23,857)(14)(23,843)
Share-based compensation net issuance of shares of restricted common stock2,482 1 2,481
Cash dividends - Common Stock(21,608)(21,608)
Ending balance at Mar. 31, 20202,430,271 1,651 1,516,151 891,498 20,971
Beginning Balance at Dec. 31, 20192,511,531 $ 2,467,575 1,664 $ 1,664 1,537,091 $ 1,537,091 956,555 $ 912,599 16,221 $ 16,221
Beginning Balance (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2019 $ (43,956) $ (43,956)
Comprehensive income:
Net income132,654
Other comprehensive income (loss)22,124
Ending balance at Sep. 30, 20202,540,799 1,652 1,520,103 980,699 38,345
Beginning Balance at Mar. 31, 20202,430,271 1,651 1,516,151 891,498 20,971
Comprehensive income:
Net income62,827 62,827
Other comprehensive income (loss)18,036 18,036
Share-based compensation net issuance of shares of restricted common stock2,481 1 2,480
Cash dividends - Common Stock(21,469)(21,469)
Ending balance at Jun. 30, 20202,492,146 1,652 1,518,631 932,856 39,007
Comprehensive income:
Net income69,320 69,320
Other comprehensive income (loss)(662)(662)
Share-based compensation net issuance of shares of restricted common stock1,472 1,472
Cash dividends - Common Stock(21,477)(21,477)
Ending balance at Sep. 30, 20202,540,799 1,652 1,520,103 980,699 38,345
Beginning Balance at Dec. 31, 20202,605,758 1,651 1,520,617 1,039,370 44,120
Comprehensive income:
Net income91,602 91,602
Other comprehensive income (loss)(24,671)(24,671)
Net issuance of shares of common stock from exercise of stock options2,322 1 2,321
Repurchase of shares of common stock(8,770)(3)(8,767)
Share-based compensation net issuance of shares of restricted common stock2,117 2 2,115
Cash dividends - Common Stock(23,154)(23,154)
Ending balance at Mar. 31, 20212,645,204 1,651 1,516,286 1,107,818 19,449
Beginning Balance at Dec. 31, 20202,605,758 1,651 1,520,617 1,039,370 44,120
Comprehensive income:
Net income245,664
Other comprehensive income (loss)(18,117)
Ending balance at Sep. 30, 20212,736,062 1,640 1,492,588 1,215,831 26,003
Beginning Balance at Mar. 31, 20212,645,204 1,651 1,516,286 1,107,818 19,449
Comprehensive income:
Net income79,070 79,070
Other comprehensive income (loss)9,670 9,670
Repurchase of shares of common stock(16,953)(6)(16,947)
Share-based compensation net issuance of shares of restricted common stock2,276 2,276
Cash dividends - Common Stock(23,078)(23,078)
Ending balance at Jun. 30, 20212,696,189 1,645 1,501,615 1,163,810 29,119
Comprehensive income:
Net income74,992 74,992
Other comprehensive income (loss)(3,116)(3,116)
Repurchase of shares of common stock(11,279)(5)(11,274)
Share-based compensation net issuance of shares of restricted common stock2,247 2,247
Cash dividends - Common Stock(22,971)(22,971)
Ending balance at Sep. 30, 2021 $ 2,736,062 $ 1,640 $ 1,492,588 $ 1,215,831 $ 26,003

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares3 Months Ended
Sep. 30, 2021Jun. 30, 2021Mar. 31, 2021Sep. 30, 2020Jun. 30, 2020Mar. 31, 2020
Statement Of Stockholders Equity [Abstract]
Net issuance of shares of common stock from exercise of stock options3,628 161,434 22,864
Common stock shares repurchased476,500 635,000 330,000 1,423,560
Issuance of restricted common stock214,684 175,249
Number of restricted shares forfeiture4,000 21,500 43,500 58,140
Common stock, cash dividends per share | $ / shares $ 0.14 $ 0.14 $ 0.14 $ 0.13 $ 0.13 $ 0.13

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands9 Months Ended
Sep. 30, 2021Sep. 30, 2020
Operating Activities
Net income $ 245,664 $ 132,654
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation & amortization14,457 15,236
(Increase) decrease in value of equity securities(7,093)6,249
Amortization of securities, net21,018 14,292
Accretion of purchased loans(16,150)(21,640)
Share-based compensation6,640 6,435
Gain on assets(2,987)(1,432)
Provision for credit losses112,264
Provision for credit losses - unfunded commitments(4,752)16,989
Deferred income tax effect6,936 (38,695)
Increase in cash value of life insurance(1,548)(1,666)
Originations of mortgage loans held for sale(599,787)(607,494)
Proceeds from sales of mortgage loans held for sale632,721 571,623
Changes in assets and liabilities:
Accrued interest receivable11,951 (27,283)
Other assets3,891 2,552
Accrued interest payable and other liabilities(9,526)20,086
Net cash provided by operating activities301,435 200,170
Investing Activities
Net decrease (increase) in loans, excluding purchased loans1,278,846 (372,691)
Purchases of investment securities – available-for-sale(1,227,507)(819,629)
Proceeds from maturities of investment securities – available-for-sale487,242 556,386
Proceeds from sales of investment securities – available-for-sale18,112
Purchases of equity securities(10,460)(15,015)
Proceeds from sales of equity securities15,354
(Purchase) redemption of other investments(7,970)13,414
Proceeds from foreclosed assets held for sale6,572 7,476
Proceeds from sale of SBA loans16,722 4,057
Purchases of premises and equipment, net(8,065)(10,282)
Return of investment on cash value of life insurance418 47,258
Net cash paid – market acquisitions(421,211)
Net cash provided by (used in) investing activities569,264 (1,010,237)
Financing Activities
Net increase in deposits1,277,581 1,659,083
Net (decrease) increase in securities sold under agreements to repurchase(27,929)14,720
Net decrease in federal funds purchased(5,000)
Net decrease in FHLB and other borrowed funds(218,011)
Proceeds from exercise of stock options2,322 422
Repurchase of common stock(37,002)(23,857)
Dividends paid on common stock(69,203)(64,554)
Net cash provided by financing activities1,145,769 1,362,803
Net change in cash and cash equivalents2,016,468 552,736
Cash and cash equivalents – beginning of year1,263,788 490,601
Cash and cash equivalents – end of period $ 3,280,256 $ 1,043,337

Nature of Operations and Summar

Nature of Operations and Summary of Significant Accounting Policies9 Months Ended
Sep. 30, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Nature of Operations and Summary of Significant Accounting Policies1. Nature of Operations and Summary of Significant Accounting Policies Nature of Operations Home BancShares, Inc. (the “Company” or “HBI”) is a bank holding company headquartered in Conway, Arkansas. The Company is primarily engaged in providing a full range of banking services to individual and corporate customers through its wholly-owned community bank subsidiary – Centennial Bank (sometimes referred to as “Centennial” or the “Bank”). The Bank has branch locations in Arkansas, Florida, South Alabama and New York City. The Company is subject to competition from other financial institutions. The Company also is subject to the regulation of certain federal and state agencies and undergoes periodic examinations by those regulatory authorities. A summary of the significant accounting policies of the Company follows: Operating Segments Operating segments are components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Bank is the only significant subsidiary upon which management makes decisions regarding how to allocate resources and assess performance. Each of the branches of the Bank provide a group of similar banking services, including such products and services as commercial, real estate and consumer loans, time deposits, checking and savings accounts. The individual bank branches have similar operating and economic characteristics. While the chief decision maker monitors the revenue streams of the various products, services and branch locations, operations are managed, and financial performance is evaluated on a Company-wide basis. Accordingly, all of the banking services and branch locations are considered by management to be aggregated into one reportable operating segment. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses, the valuation of investment securities, the valuation of foreclosed assets and the valuations of assets acquired, and liabilities assumed in business combinations. In connection with the determination of the allowance for credit losses and the valuation of foreclosed assets, management obtains independent appraisals for significant properties. Principles of Consolidation The consolidated financial statements include the accounts of HBI and its subsidiaries. Significant intercompany accounts and transactions have been eliminated in consolidation. Reclassifications Various items within the accompanying consolidated financial statements for previous years have been reclassified to provide more comparative information. These reclassifications had no effect on net earnings or stockholders’ equity. Interim financial information The accompanying unaudited consolidated financial statements as of September 30, 2021 and 2020 have been prepared in condensed format, and therefore do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. The information furnished in these interim statements reflects all adjustments which are, in the opinion of management, necessary for a fair statement of the results for each respective period presented. Such adjustments are of a normal recurring nature. The results of operations in the interim statements are not necessarily indicative of the results that may be expected for any other quarter or for the full year. The interim financial information should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s 2020 Form 10-K, filed with the Securities and Exchange Commission. New Accounting Pronouncements The Company adopted ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments The Company adopted ASC 326 using the modified retrospective method for loans and off-balance-sheet (“OBS”) credit exposures. Results for reporting periods beginning after January 1, 2020 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. The Company recorded a one-time cumulative-effect adjustment to the allowance for credit losses of $44.0 million which was recognized through a $32.5 million adjustment to retained earnings, net of tax. This adjustment brought the beginning balance of the allowance for credit losses to $146.1 million as of January 1, 2020. In addition, the Company recorded a $15.5 million reserve on unfunded commitments which was recognized through an $11.5 million adjustment to retained earnings, net of tax. The Company adopted ASC 326 using the prospective transition approach for financial assets purchased with credit deterioration (“PCD”) that were previously classified as purchased credit impaired (“PCI”) and accounted for under ASC 310-30. In 2019, the Company reevaluated its loan pools of purchased loans with deteriorated credit quality. These loans pools related specifically to acquired loans from the Heritage, Liberty, Landmark, Bay Cities, Bank of Commerce, Premier Bank, Stonegate and Shore Premier Finance acquisitions. At acquisition, a portion of these loans was recorded as purchased credit impaired loans on a pool by pool basis. Through the reevaluation of these loan pools, management determined that estimated losses for purchase credit impaired loans should be processed against the credit mark of the applicable pools. The remaining non-accretable mark was then moved to accretable mark to be recognized over the remaining weighted average life of the loan pools. The projected losses for these loans were less than the total credit mark. As such, the remaining $107.6 million of loans in these pools along with the $29.3 million in accretable yield was deemed to be immaterial and was reclassified out of the purchased credit impaired loans category. As of December 31, 2019, the Company no longer held any purchased loans with deteriorated credit quality. Therefore, the Company did not have any PCI loans upon adoption on of ASC 326 as of January 1, 2020. The Company has purchased loans, some of which have experienced more than insignificant credit deterioration since origination. PCD loans are recorded at the amount paid. An allowance for credit losses is determined using the same methodology as other loans. The initial allowance for credit losses determined on a collective basis is allocated to individual loans. The sum of the loan’s purchase price and allowance for credit losses becomes its initial amortized cost basis. The difference between the initial amortized cost basis and the par value of the loan is a noncredit discount or premium, which is amortized into interest income over the life of the loan. Subsequent changes to the allowance for credit losses are recorded through the provision for credit loss. The Company adopted ASC 326 using the prospective transition approach for debt securities for which other-than-temporary impairment had been recognized prior to January 1, 2020. As of December 31, 2019, the Company did not have any other-than-temporarily impaired investment securities. Therefore, upon adoption of ASC 326, the Company determined than an allowance for credit losses on available-for-sale securities was not deemed material. However, the Company evaluated the investment portfolio during the first quarter of 2020 and determined that an $842,000 provision for credit losses was necessary. No additional provision was deemed necessary during the remaining quarters of 2020 or the first three quarters of 2021. The following table illustrates the impact of the adoption of ASC 326 on the Company’s 2020 consolidated balance sheet.
January 1, 2020
As Reported Under ASC 326
Pre-ASC 326 Adoption
Impact of ASC 326 Adoption
(In thousands)
Assets:
Allowance for credit losses on loans
$
146,110
$
102,122
$
43,988
Liabilities:
Allowance for credit losses on OBS credit exposures (included in other liabilities)
15,521

15,521
Revenue Recognition Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers

Service charges on deposit accounts – These represent general service fees for monthly account maintenance and activity or transaction-based fees and consist of transaction-based revenue, time-based revenue (service period), item-based revenue or some other individual attribute-based revenue. Revenue is recognized when our performance obligation is completed which is generally monthly for account maintenance services or when a transaction has been completed (such as a wire transfer). Payment for such performance obligations are generally received at the time the performance obligations are satisfied.

Other service charges and fees – These represent credit card interchange fees and Centennial Commercial Finance Group (“Centennial CFG”) loan fees. The interchange fees are recorded in the period the performance obligation is satisfied which is generally the cash basis based on agreed upon contracts. The Centennial CFG loan fees are based on loan or other negotiated agreements with customers and are accounted for under ASC Topic 310. Earnings per Share Basic earnings per share is computed based on the weighted-average number of shares outstanding during each year. Diluted earnings per share is computed using the weighted-average shares and all potential dilutive shares outstanding during the period. The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the following periods:
Three Months Ended September 30,
Nine Months Ended September 30,
2021
2020
2021
2020
(In thousands)
Net income
$
74,992
$
69,320
$
245,664
$
132,654
Average shares outstanding
164,126
165,200
164,717
165,458
Effect of common stock options
477

333

Average diluted shares outstanding
164,603
165,200
165,050
165,458
Basic earnings per share
$
0.46
$
0.42
$
1.49
$
0.80
Diluted earnings per share
$
0.46
$
0.42
$
1.49
$
0.80
As of September 30, 2020, options to purchase 3.3 million shares of common stock with a weighted average exercise price of $19.56 were excluded from the computation of diluted earnings per share as the majority of the options had an exercise price which was greater than the average market price of the common stock.

Business Combinations

Business Combinations9 Months Ended
Sep. 30, 2021
Business Combinations [Abstract]
Business Combinations2. Business Combinations Acquisition of LH-Finance On February 29, 2020, the Company completed the acquisition of LH-Finance, the marine lending division of People’s United Bank, N.A. The Company paid a purchase price of approximately $421.2 million in cash. LH-Finance provides direct consumer financing for United States Coast Guard (“USCG”) registered high-end sail and power boats. Additionally, LH-Finance provides inventory floor plan lines of credit to marine dealers, primarily those selling USCG documented vessels. Including the purchase accounting adjustments, as of the acquisition date, LH-Finance had approximately $409.1 million in total assets, including $407.4 million in total loans, which resulted in goodwill of $14.6 million being recorded. The acquired portfolio of loans is now housed in the Shore Premier Finance (“SPF”) division. The SPF division of Centennial is responsible for servicing the acquired loan portfolio and originating new loan production. In connection with this acquisition, Centennial opened a loan production office in Baltimore, Maryland. Future Acquisition of Happy Bancshares, Inc. On September 15, 2021, the Company and Centennial entered into an Agreement and Plan of Merger (the “Agreement”) with Happy Bancshares, Inc., a Texas corporation (“Happy”), and its wholly-owned bank subsidiary, Happy State Bank, a Texas banking association (“HSB”), under which the Company and Centennial will acquire Happy and HSB. The Agreement, as amended on October 18, 2021, provides that, in a series of transactions, an acquisition subsidiary of the Company will merge into Happy and Happy will merge into the Company, with the Company as the surviving entity (collectively, the “Merger”). As soon as reasonably practicable following the Merger, HSB will merge into Centennial, with Centennial as the surviving entity. Under the terms of the Agreement, as amended, the Company will issue approximately 42.3 million shares of its common stock to the shareholders of Happy upon the completion of the Merger, for a purchase price of approximately $1.02 billion, valued based on the volume-weighted average closing price per share of the Company’s common stock as reported on the Nasdaq Global Select Market (“Nasdaq”) for the 20 consecutive trading day period ending on November 1, 2021. No cash consideration will be paid in connection with the Merger, except that holders of outstanding shares of Happy common stock at the time of the Merger will receive cash payments in lieu of any fractional shares of Company common stock to which they are otherwise entitled in connection with the Merger. In addition, the Company expects to pay an aggregate of up to approximately $11.0 million in cash in cancellation of certain stock appreciation rights issued by Happy that remain outstanding at the time of the Merger. Subject to the terms and conditions set forth in the Agreement, as amended, at the effective time of the Merger (the “Effective Time”), each outstanding share of common stock of Happy will be converted into the right to receive, without interest, 2.17 shares of the Company’s common stock (the “Merger Consideration”). Each unvested restricted share of Happy common stock outstanding at the Effective Time will fully vest and be converted into the right to receive the Merger Consideration. In addition, at the Effective Time, each outstanding option to purchase Happy common stock will be cancelled and converted into the right to receive the number of whole shares of the Company’s common stock, together with any cash in lieu of fractional shares, equal to the product of (i) the number of shares of Happy common stock subject to the option, multiplied by (ii) the excess, if any, of the Merger Consideration value over the exercise price of the option, less applicable tax withholdings, divided by (iii) the Company’s Average Closing Price (defined below). Similarly, each stock appreciation right of Happy outstanding at the Effective Time will be cancelled and converted into the right to receive a cash payment, without interest, equal to the product of (i) the number of shares of Happy common stock subject to the stock appreciation right, multiplied by (ii) the excess, if any, of the Merger Consideration value over the grant price of the stock appreciation right, less applicable tax withholdings. For purposes of these calculations, the Merger Consideration value will be determined using a volume-weighted average closing price of the Company’s common stock as reported on Nasdaq over the 20 consecutive trading day period ending on the third business day prior to the closing of the Merger (“the Company’s Average Closing Price”), multiplied by 2.17. The Merger is expected to close during the first quarter of 2022, and is subject to the approval of the shareholders of the Company and Happy, regulatory approvals, and other conditions set forth in the Agreement.

Investment Securities

Investment Securities9 Months Ended
Sep. 30, 2021
Investments Debt And Equity Securities [Abstract]
Investment Securities3. Investment Securities The following table summarizes the amortized cost and fair value of securities available-for-sale and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss):
September 30, 2021
Available-for-Sale
Amortized Cost
Gross Unrealized Gains
Gross Unrealized (Losses)
Estimated Fair Value
(In thousands)
U.S. government-sponsored enterprises
$
439,181
$
2,702
$
(1,720
)
$
440,163
Residential mortgage-backed securities
1,198,016
6,812
(9,064
)
1,195,764
Commercial mortgage-backed securities
403,840
10,656
(922
)
413,574
State and political subdivisions
965,993
27,356
(2,205
)
991,144
Other securities
109,216
1,137
(390
)
109,963
Total
$
3,116,246
$
48,663
$
(14,301
)
$
3,150,608
December 31, 2020
Available-for-Sale
Amortized Cost
Gross Unrealized Gains
Gross Unrealized (Losses)
Estimated Fair Value
(In thousands)
U.S. government-sponsored enterprises
$
325,860
$
2,338
$
(1,207
)
$
326,991
Residential mortgage-backed securities
703,138
10,607
(688
)
713,057
Commercial mortgage-backed securities
446,964
18,048
(126
)
464,886
State and political subdivisions
898,174
31,173
(1,454
)
927,893
Other securities
40,755
434
(235
)
40,954
Total
$
2,414,891
$
62,600
$
(3,710
)
$
2,473,781
Assets, principally investment securities, having a carrying value of approximately $1.17 billion and $1.08 billion at September 30, 2021 and December 31, 2020, respectively, were pledged to secure public deposits, as collateral for repurchase agreements, and for other purposes required or permitted by law. Investment securities pledged as collateral for repurchase agreements totaled approximately $141.0 million and $168.9 million at September 30, 2021 and December 31, 2020, respectively. The amortized cost and estimated fair value of securities classified as available-for-sale at September 30, 2021, by contractual maturity, are shown below. Expected maturities could differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.
Available-for-Sale
Amortized Cost
Estimated Fair Value
(In thousands)
Due in one year or less
$
9,391
$
9,399
Due after one year through five years
78,839
79,824
Due after five years through ten years
348,801
350,567
Due after ten years
1,075,359
1,099,480
Mortgage - backed securities: Residential
1,198,016
1,195,764
Mortgage - backed securities: Commercial
403,840
413,574
Other
2,000
2,000
Total
$
3,116,246
$
3,150,608
During the three months ended September 30, 2021, no available-for-sale securities were sold. There were no realized gains or losses recorded on sales for the three months ended September 30, 2021. During the nine months ended September 30, 2021, $17.9 million in available-for-sale securities were sold. The gross realized gains on the sales totaled $219,000 for the nine months ended September 30, 2021. During the three and nine months ended September 30, 2020, no available-for-sale securities were sold. There were no realized gains or losses recorded on the sales for the three and nine months ended September 30, 2020. The following table shows gross unrealized losses and estimated fair value of investment securities classified as available-for-sale, aggregated by investment category and length of time that individual investment securities have been in a continuous loss position as of September 30, 2021 and December 31, 2020.
September 30, 2021
Less Than 12 Months
12 Months or More
Total
Fair Value
Unrealized Losses
Fair Value
Unrealized Losses
Fair Value
Unrealized Losses
(In thousands)
U.S. government-sponsored enterprises
$
80,986
$
(1,015
)
$
56,150
$
(705
)
$
137,136
$
(1,720
)
Residential mortgage-backed securities
762,805
(8,216
)
31,319
(848
)
794,124
(9,064
)
Commercial mortgage-backed securities
81,615
(906
)
6,245
(16
)
87,860
(922
)
State and political subdivisions
149,056
(980
)
16,887
(1,225
)
165,943
(2,205
)
Other securities
41,421
(340
)
4,263
(50
)
45,684
(390
)
Total
$
1,115,883
$
(11,457
)
$
114,864
$
(2,844
)
$
1,230,747
$
(14,301
)
December 31, 2020
Less Than 12 Months
12 Months or More
Total
Fair Value
Unrealized Losses
Fair Value
Unrealized Losses
Fair Value
Unrealized Losses
(In thousands)
U.S. government-sponsored enterprises
$
54,611
$
(383
)
$
95,249
$
(824
)
$
149,860
$
(1,207
)
Residential mortgage-backed securities
143,458
(643
)
4,900
(45
)
148,358
(688
)
Commercial mortgage-backed securities
26,886
(126
)


26,886
(126
)
State and political subdivisions
78,349
(1,454
)


78,349
(1,454
)
Other securities
5,434
(100
)
8,748
(135
)
14,182
(235
)
Total
$
308,738
$
(2,706
)
$
108,897
$
(1,004
)
$
417,635
$
(3,710
) The Company evaluates all securities quarterly to determine if any debt securities in a loss position require a provision for credit losses in accordance with ASC 326, Measurement of Credit Losses on Financial Instruments
September 30, 2021
December 31, 2020
(In thousands)
Allowance for credit losses:
Beginning balance
$
842
$

Provision for credit loss - investment securities

842
Balance, September 30
$
842
$
842
Provision for credit loss - investment securities

Balance, December 31, 2020
$
842
For the nine months ended September 30, 2021, the Company had investment securities with approximately $2.8 million in unrealized losses, which have been in continuous loss positions for more than twelve months. The Company’s assessments indicated that the cause of the market depreciation was primarily due to the change in interest rates and not the issuer’s financial condition or downgrades by rating agencies. In addition, approximately 58.6% of the principal balance from the Company’s investment portfolio will mature and be repaid to the Company within five years or less. As a result, the Company has the ability and intent to hold such securities until maturity. As of September 30, 2021, the Company's securities portfolio consisted of 1,335 investment securities, 304 of which were in an unrealized loss position. As noted in the table above, the total amount of the unrealized loss was $14.3 million. The U.S government-sponsored enterprises portfolio contained unrealized losses of $1.7 million on 44 securities. The residential mortgage-backed securities portfolio contained $9.1 million of unrealized losses on 161 securities, and the commercial mortgage-backed securities portfolio contained $922,000 of unrealized losses on 35 securities. The state and political subdivisions portfolio contained $2.2 million of unrealized losses on 51 securities. In addition, the other securities portfolio contained $390,000 of unrealized losses on 13 securities. The unrealized losses on the Company's investments were a result of interest rate changes. The Company expects to recover the amortized cost basis over the term of the securities. As of September 30, 2021, the Company does not consider an allowance for credit losses on the other portions of the investment portfolio because the decline in market value was attributable to changes in interest rates and not credit quality, the Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost basis, which may be maturity. Income earned on available-for sale securities for the three and nine months ended September 30, 2021 and 2020, is as follows:
For the Three Months Ended September 30,
For the Nine Months Ended September 30,
2021
2020
2021
2020
(In thousands)
Taxable
$
8,495
$
7,227
$
21,933
$
25,696
Non-taxable
4,839
4,367
14,815
11,179
Total
$
13,334
$
11,594
$
36,748
$
36,875

Loans Receivable

Loans Receivable9 Months Ended
Sep. 30, 2021
Receivables [Abstract]
Loans Receivable4. Loans Receivable The various categories of loans receivable are summarized as follows:
September 30,
December 31,
2021
2020
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
$
4,005,841
$
4,429,060
Construction/land development
1,742,687
1,562,298
Agricultural
138,881
114,431
Residential real estate loans
Residential 1-4 family
1,273,988
1,536,257
Multifamily residential
274,131
536,538
Total real estate
7,435,528
8,178,584
Consumer
814,732
864,690
Commercial and industrial
1,414,079
1,896,442
Agricultural
68,272
66,869
Other
168,489
214,136
Total loans receivable
9,901,100
11,220,721
Allowance for credit losses
(238,673
)
(245,473
)
Loans receivable, net
$
9,662,427
$
10,975,248
During the three and nine months ended September 30, 2021, the Company sold $3.9 million and $15.0 million of the guaranteed portions of certain SBA loans, which resulted in a gain of approximately $440,000 and $1.6 million. During the three months ended September 30, 2020, the Company did not sell any guaranteed portions of certain SBA loans. During the nine months ended September 30, 2020, the Company sold $3.7 million of the guaranteed portions of certain SBA loans, which resulted in a gain of approximately $341,000. Mortgage loans held for sale of approximately $81.9 million and $114.8 million at September 30, 2021 and December 31, 2020, respectively, are included in residential 1-4 family loans. Mortgage loans held for sale are carried at the lower of cost or fair value, determined using an aggregate basis. Gains and losses resulting from sales of mortgage loans are recognized when the respective loans are sold to investors. Gains and losses are determined by the difference between the selling price and the carrying amount of the loans sold, net of discounts collected or paid. The Company obtains forward commitments to sell mortgage loans to reduce market risk on mortgage loans in the process of origination and mortgage loans held for sale. The forward commitments acquired by the Company for mortgage loans in process of origination are considered mandatory forward commitments. Because these commitments are structured on a mandatory basis, the Company is required to substitute another loan or to buy back the commitment if the original loan does not fund. These commitments are derivative instruments and their fair values at September 30, 2021 and December 31, 2020 were not material. The Company adopted ASC 326 using the prospective transition approach for financial assets purchased with credit deterioration (“PCD”) that were previously classified as purchased credit impaired (“PCI”) and accounted for under ASC 310-30. In 2019, the Company reevaluated its loan pools of purchased loans with deteriorated credit quality. These loans pools related specifically to acquired loans from the Heritage, Liberty, Landmark, Bay Cities, Bank of Commerce, Premier Bank, Stonegate and Shore Premier Finance acquisitions. At acquisition, a portion of these loans was recorded as purchased credit impaired loans on a pool by pool basis. Through the reevaluation of these loan pools, management determined that estimated losses for purchase credit impaired loans should be processed against the credit mark of the applicable pools. The remaining non-accretable mark was then moved to accretable mark to be recognized over the remaining weighted average life of the loan pools. The projected losses for these loans were less than the total credit mark. As such, the remaining $107.6 million of loans in these pools along with the $29.3 million in accretable yield was deemed to be immaterial and was reclassified out of the purchased credit impaired loans category. The Company has purchased loans, some of which have experienced more than insignificant credit deterioration since origination. PCD loans are recorded at the amount paid. An allowance for credit losses is determined using the same methodology as other loans. The initial allowance for credit losses determined on a collective basis is allocated to individual loans. The sum of the loan’s purchase price and allowance for credit losses becomes its initial amortized cost basis. The difference between the initial amortized cost basis and the par value of the loan is a noncredit discount or premium, which is amortized into interest income over the life of the loan. Subsequent changes to the allowance for credit losses are recorded through the provision for credit losses. As a result of the acquisition of LH-Finance in 2020, the Company held approximately $454,000 and $760,000 in PCD loans, as of September 30, 2021 and December 31, 2020, respectively. A description of our accounting policies for loans, impaired loans and non-accrual loans are set forth in our 2020 Form 10-K filed with the SEC on February 26, 2021. The Company adopted ASC 326 effective January 1, 2020. See Notes 1 and 5 for further discussion.

Allowance for Credit Losses, Cr

Allowance for Credit Losses, Credit Quality and Other9 Months Ended
Sep. 30, 2021
Text Block [Abstract]
Allowance for Credit Losses, Credit Quality and Other5. Allowance for Credit Losses, Credit Quality and Other The Company adopted ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments The Company uses the discounted cash flow (“DCF”) method to estimate expected losses for all of Company’s loan pools. These pools are as follows: construction & land development; other commercial real estate; residential real estate; commercial & industrial; and consumer & other. The loan portfolio pools were selected in order to generally align with the loan categories specified in the quarterly call reports required to be filed with the Federal Financial Institutions Examination Council. For each of these loan pools, the Company generates cash flow projections at the instrument level wherein payment expectations are adjusted for estimated prepayment speed, curtailments, time to recovery, probability of default, and loss given default. The modeling of expected prepayment speeds, curtailment rates, and time to recovery are based on historical internal data. The Company uses regression analysis of historical internal and peer data to determine suitable loss drivers to utilize when modeling lifetime probability of default and loss given default. This analysis also determines how expected probability of default and loss given default will react to forecasted levels of the loss drivers. Each year management evaluates the performance of the selected models used in the CECL calculation through backtesting. Based on the results of the testing, management determines if the various models produced accurate results compared to the actual losses incurred for the current economic environment. Management then determines if changes to the input assumptions and economic factors would produce a stronger overall calculation that is more responsive to changes in economic conditions. The Company continues to use regression analysis to determine suitable loss drivers to utilize when modeling lifetime probability of default and loss given default for the changes in the economic factors for the loss driver segments. Based on this analysis during the first quarter of 2021, management determined that changes to several of the economic factors for the various loss driver segments were necessary. The identified loss drivers by segment are included below as of September 30, 2021 and December 31, 2020, respectively.
September 30, 2021
Loss Driver Segment
Call Report Segment(s)
Modeled Economic Factors
1-4 Family Construction
1a1
National Unemployment (%) & Housing Price Index (%)
All Other Construction
1a2
National Unemployment (%) & Gross Domestic Product (%)
1-4 Family Revolving HELOC & Junior Liens
1c1
National Unemployment (%) & Housing Price Index – CoreLogic (%)
1-4 Family Revolving HELOC & Junior Liens
1c2b
National Unemployment (%) & Gross Domestic Product (%)
1-4 Family Senior Liens
1c2a
National Unemployment (%) & Gross Domestic Product (%)
Multifamily
1d
Rental Vacancy Rate (%) & Housing Price Index – Case-Schiller (%)
Owner Occupied CRE
1e1
National Unemployment (%) & Gross Domestic Product (%)
Non-Owner Occupied CRE
1e2,1b,8
National Unemployment (%) & Gross Domestic Product (%)
Commercial & Industrial, Agricultural, Non-Depository Financial Institutions, Purchase/Carry Securities, Other
4a, 3, 9a, 9b1, 9b2, Other
National Unemployment (%) & National Retail Sales (%)
Consumer Auto
6c
National Unemployment (%) & National Retail Sales (%)
Other Consumer
6b, 6d
National Unemployment (%) & National Retail Sales (%)
Other Consumer - SPF
6d
National Unemployment (%)

December 31, 2020

Loss Driver Segment
Call Report Segment(s)
Modeled Economic Factors
1-4 Family Construction
1a1
National Unemployment (%) & Housing Price Index (%)
All Other Construction
1a2
National Unemployment (%) & Commercial Real Estate Price Index (%)
1-4 Family Revolving HELOC & Junior Liens
1c1, 1c2b
National Unemployment (%) & Housing Price Index (%)
1-4 Family Senior Liens
1c2a
National Unemployment (%) & Housing Price Index (%)
Multifamily
1d
National Unemployment (%) & Housing Price Index (%)
Owner Occupied CRE
1e1
National Unemployment (%) & Commercial Real Estate Price Index (%)
Non-Owner Occupied CRE
1e2,1b,8
National Unemployment (%) & Commercial Real Estate Price Index (%)
Commercial & Industrial, Agricultural, Non-Depository Financial Institutions, Purchase/Carry Securities, Other
4a, 3, 9a, 9b1, 9b2, Other
National Unemployment (%) & National Retail Sales (%)
Consumer Auto
6c
National Unemployment (%) & National Retail Sales (%)
Other Consumer
6b, 6d
National Unemployment (%) & National Retail Sales (%)
Other Consumer - SPF
6d
National Unemployment (%) For all DCF models, management has determined that four quarters represents a reasonable and supportable forecast period and reverts to a historical loss rate over four quarters on a straight-line basis. Management leverages economic projections from a reputable and independent third party to inform its loss driver forecasts over the four-quarter forecast period. Other internal and external indicators of economic forecasts are also considered by management when developing the forecast metrics. The combination of adjustments for credit expectations (default and loss) and time expectations prepayment, curtailment, and time to recovery produces an expected cash flow stream at the instrument level. Instrument effective yield is calculated, net of the impacts of prepayment assumptions, and the instrument expected cash flows are then discounted at that effective yield to produce an instrument-level net present value of expected cash flows (“NPV”). An allowance for credit loss is established for the difference between the instrument’s NPV and amortized cost basis. Construction/Land Development and Other We originate non-farm and non-residential loans (primarily secured by commercial real estate), construction/land development loans, and agricultural loans, which are generally secured by real estate located in our market areas. Our commercial mortgage loans are generally collateralized by first liens on real estate and amortized (where defined) over a 15 to 30 year period with balloon payments due at the end of one to five years. These loans are generally underwritten by assessing cash flow (debt service coverage), primary and secondary source of repayment, the financial strength of any guarantor, the strength of the tenant (if any), the borrower’s liquidity and leverage, management experience, ownership structure, economic conditions and industry specific trends and collateral. Generally, we will loan up to 85% of the value of improved property, 65% of the value of raw land and 75% of the value of land to be acquired and developed. A first lien on the property and assignment of lease is required if the collateral is rental property, with second lien positions considered on a case-by-case basis. Residential Real Estate Loans. We originate one to four family, residential mortgage loans generally secured by property located in our primary market areas. Residential real estate loans generally have a loan-to-value ratio of up to 90%. These loans are underwritten by giving consideration to many factors including the borrower’s ability to pay, stability of employment or source of income, debt-to-income ratio, credit history and loan-to-value ratio. Commercial and Industrial Loans. Commercial and industrial loans are made for a variety of business purposes, including working capital, inventory, equipment and capital expansion. The terms for commercial loans are generally one to seven years. Commercial loan applications must be supported by current financial information on the borrower and, where appropriate, by adequate collateral. Commercial loans are generally underwritten by addressing cash flow (debt service coverage), primary and secondary sources of repayment, the financial strength of any guarantor, the borrower’s liquidity and leverage, management experience, ownership structure, economic conditions and industry specific trends and collateral. The loan to value ratio depends on the type of collateral. Generally, accounts receivable are financed at between 50% and 80% of accounts receivable less than 60 days past due. Inventory financing will range between 50% and 80% (with no work in process) depending on the borrower and nature of inventory. We require a first lien position for those loans. Consumer & Other Loans. Our consumer & other loans are primarily composed of loans to finance USCG registered high-end sail and power boats as a result of our acquisitions of SPF on June 30, 2018 and LH-Finance on February 29, 2020. The performance of consumer & other loans will be affected by the local and regional economies as well as the rates of personal bankruptcies, job loss, divorce and other individual-specific characteristics. Off-Balance Sheet Credit Exposures. The Company estimates expected credit losses over the contractual period in which the Company is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Company. The allowance for credit loss on off-balance sheet credit exposures is adjusted as a provision for credit loss expense. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life. The Company uses the DCF method to estimate expected losses for all of Company’s off-balance sheet credit exposures through the use of the existing DCF models for the Company’s loan portfolio pools. The off-balance sheet credit exposures exhibit similar risk characteristics as loans currently in the Company’s loan portfolio. As of September 30, 2021, the Company remains optimistic that the markets in which it operates will experience continued economic recovery as long as unemployment rates continue to decline, more COVID-19 vaccinations are administered, and communities continue to reopen for business activity . Uncertainty remains about the duration of the pandemic as well as the timing and extent of the economic recovery. . ASC 326 requires that both a discount and an allowance for credit losses be recorded on loans during an acquisition. During the first quarter of 2020, we completed the acquisition of $406.2 million of loans from LH-Finance. As a result, the Company recorded a $6.6 million loan discount and a $9.3 million increase in the allowance for credit losses for this acquisition. A small portion of the loans acquired during the quarter were purchase credit deteriorated (“PCD”) loans, so the Company recorded a $357,000 allowance for credit losses on these loans. The following tables present the activity in the allowance for credit losses for the three and nine months ended September 30, 2021:
Three Months Ended September 30, 2021
Construction/ Land Development
Other Commercial Real Estate
Residential Real Estate
Commercial & Industrial
Consumer & Other
Total
(In thousands)
Allowance for credit losses:
Beginning balance
$
22,145
$
93,127
$
51,182
$
52,282
$
21,715
$
240,451
Loans charged off

(9
)
(220
)
(1,682
)
(558
)
(2,469
)
Recoveries of loans previously charged off
8
44
388
80
171
691
Net loans recovered (charged off)
8
35
168
(1,602
)
(387
)
(1,778
)
Provision for credit losses
3,830
(4,664
)
(447
)
1,922
(641
)

Balance, September 30
$
25,983
$
88,498
$
50,903
$
52,602
$
20,687
$
238,673
Nine Months Ended September 30, 2021
Construction/ Land Development
Other Commercial Real Estate
Residential Real Estate
Commercial & Industrial
Consumer & Other
Total
(In thousands)
Allowance for credit losses:
Beginning balance
$
32,861
$
88,453
$
53,216
$
46,530
$
24,413
$
245,473
Loans charged off

(646
)
(543
)
(5,892
)
(1,458
)
(8,539
)
Recoveries of loans previously charged off
47
112
554
382
644
1,739
Net loans recovered (charged off)
47
(534
)
11
(5,510
)
(814
)
(6,800
)
Provision for credit losses
(6,925
)
579
(2,324
)
11,582
(2,912
)

Balance, September 30
$
25,983
$
88,498
$
50,903
$
52,602
$
20,687
$
238,673
The following tables present the balances in the allowance for credit losses for the nine-month period ended September 30, 2020 and the year ended December 31, 2020.
Nine Months Ended September 30, 2020 and Year Ended December 31, 2020
Construction/ Land Development
Other Commercial Real Estate
Residential Real Estate
Commercial & Industrial
Consumer & Other
Total
(In thousands)
Allowance for credit losses:
Beginning balance
$
26,433
$
33,529
$
20,135
$
16,615
$
5,410
$
102,122
Impact of adoption ASC 326
(5,296
)
15,912
16,680
11,584
5,108
43,988
Allowance for credit losses on PCD loans




357
357
Loans charged off
(443
)
(3,003
)
(450
)
(6,207
)
(1,343
)
(11,446
)
Recoveries of loans previously charged off
94
614
305
142
626
1,781
Net loans charged off
(349
)
(2,389
)
(145
)
(6,065
)
(717
)
(9,665
)
Provision for credit loss - loans
18,027
50,912
8,550
18,023
6,601
102,113
Provision for credit loss - acquired loans




9,309
9,309
Balance, September 30
38,815
97,964
45,220
40,157
26,068
248,224
Loans charged off
(775
)
(38
)
(35
)
(1,557
)
(635
)
(3,040
)
Recoveries of loans previously charged off
13
33
32
76
135
289
Net loans charged off
(762
)
(5
)
(3
)
(1,481
)
(500
)
(2,751
)
Provision for credit loss - loans
(5,192
)
(9,506
)
7,999
7,854
(1,155
)

Balance, December 31
$
32,861
$
88,453
$
53,216
$
46,530
$
24,413
$
245,473
The following table presents the amortized cost basis of loans on nonaccrual status and loans past due over 90 days still accruing as of September 30, 2021 and December 31, 2020:
September 30, 2021
Nonaccrual
Nonaccrual with Reserve
Loans Past Due Over 90 Days Still Accruing
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
$
8,819
$
2,244
$
2,413
Construction/land development
1,870


Agricultural
743


Residential real estate loans
Residential 1-4 family
17,495
2,984
855
Multifamily residential
161


Total real estate
29,088
5,228
3,268
Consumer
1,921

2
Commercial and industrial
15,989
4,272
41
Agricultural & other
606


Total
$
47,604
$
9,500
$
3,311
December 31, 2020
Nonaccrual
Nonaccrual with Reserve
Loans Past Due Over 90 Days Still Accruing
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
$
20,947
$
6,794
$
6,088
Construction/land development
1,381
2,089
1,296
Agricultural
879


Residential real estate loans
Residential 1-4 family
19,334
3,000
1,821
Multifamily residential
173


Total real estate
42,714
11,883
9,205
Consumer
3,506

174
Commercial and industrial
17,251

231
Agricultural & other
1,057


Total
$
64,528
$
11,883
$
9,610
The Company had $47.6 million and $64.5 million in nonaccrual loans for the periods ended September 30, 2021 and December 31, 2020, respectively. In addition, the Company had $3.3 million and $9.6 million in loans past due 90 days or more and still accruing for the periods ended September 30, 2021 and December 31, 2020, respectively. The Company had $9.5 million and $11.9 million in nonaccrual loans with a specific reserve as of September 30, 2021 and December 31, 2020, respectively. The Company did not recognize any interest income on nonaccrual loans during the period ended September 30, 2021 or September 30, 2020. The following table presents the amortized cost basis of collateral-dependent impaired loans by class of loans as of September 30, 2021 and December 31, 2020:
September 30, 2021
Commercial
Residential
Real Estate
Real Estate
Other
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
$
249,783
$

$

Construction/land development
5,201


Agricultural
743


Residential real estate loans
Residential 1-4 family

21,393

Multifamily residential

161

Total real estate
255,727
21,554

Consumer


1,936
Commercial and industrial


20,264
Agricultural & other


607
Total
$
255,727
$
21,554
$
22,807
December 31, 2020
Commercial
Residential
Real Estate
Real Estate
Other
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
$
47,429
$

$

Construction/land development
6,012


Agricultural
879


Residential real estate loans
Residential 1-4 family

32,413

Multifamily residential

173

Total real estate
54,320
32,586

Consumer


3,694
Commercial and industrial


21,027
Agricultural & other


1,057
Total
$
54,320
$
32,586
$
25,778
The Company had $300.1 million and $112.7 million in collateral-dependent impaired loans for the periods ended September 30, 2021 and December 31, 2020, respectively. The increase in collateral-dependent impaired loans was due to the Company changing the valuation method for lodging and assisted living loans to a market price valuation methodology. This involved assigning a 15% discount of par for these impaired loans. The 15% figure was derived based on knowledge of current hotel and assisted living offerings in the loan sale market. In the event of default, liquidation would be achieved through a loan sale. The Company is continuing to monitor these impaired loans and will adjust the discount as necessary. Loans that do not share risk characteristics are evaluated on an individual basis. For collateral-dependent impaired loans, excluding lodging and assisted living loans, where the Company has determined that foreclosure of the collateral is probable, or where the borrower is experiencing financial difficulty and the Company expects repayment of the financial asset to be provided substantially through the operation or sale of the collateral, the allowance for credit losses is measured based on the difference between the fair value of the collateral and the amortized cost basis of the loan as of the measurement date. When repayment is expected to be from the operation of the collateral, expected credit losses are calculated as the amount by which the amortized cost basis of the loan exceeds the present value of expected cash flows from the operation of the collateral. When repayment is expected to be from the sale of the collateral, expected credit losses are calculated as the amount by which the amortized cost basis of the loan exceeds the fair value of the underlying collateral less estimated costs to sell. The allowance for credit losses may be zero if the fair value of the collateral at the measurement date exceeds the amortized cost basis of the loan. The following is an aging analysis for loans receivable as of September 30, 2021 and December 31, 2020:
September 30, 2021
Loans Past Due 30-59 Days
Loans Past Due 60-89 Days
Loans Past Due 90 Days or More
Total Past Due
Current Loans
Total Loans Receivable
Accruing Loans Past Due 90 Days or More
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
$
2,213
$

$
11,232
$
13,445
$
3,992,396
$
4,005,841
$
2,413
Construction/land development
66
171
1,870
2,107
1,740,580
1,742,687

Agricultural
434
295
743
1,472
137,409
138,881

Residential real estate loans

Residential 1-4 family
2,452
3,072
18,350
23,874
1,250,114
1,273,988
855
Multifamily residential


161
161
273,970
274,131

Total real estate
5,165
3,538
32,356
41,059
7,394,469
7,435,528
3,268
Consumer
401
12
1,923
2,336
812,396
814,732
2
Commercial and industrial
752
592
16,030
17,374
1,396,705
1,414,079
41
Agricultural & other
619
1
606
1,226
235,535
236,761

Total
$
6,937
$
4,143
$
50,915
$
61,995
$
9,839,105
$
9,901,100
$
3,311
December 31, 2020
Loans Past Due 30-59 Days
Loans Past Due 60-89 Days
Loans Past Due 90 Days or More
Total Past Due
Current Loans
Total Loans Receivable
Accruing Loans Past Due 90 Days or More
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
$
3,856
$
68
$
27,035
$
30,959
$
4,398,101
$
4,429,060
$
6,088
Construction/land development
178
44
2,677
$
2,899
1,559,399
1,562,298
1,296
Agricultural
522

879
1,401
113,030
114,431

Residential real estate loans
Residential 1-4 family
4,833
7,787
21,155
33,775
1,502,482
1,536,257
1,821
Multifamily residential
111

173
284
536,254
536,538

Total real estate
9,500
7,899
51,919
69,318
8,109,266
8,178,584
9,205
Consumer
2,899
802
3,680
7,381
857,309
864,690
174
Commercial and industrial
960
515
17,482
18,957
1,877,485
1,896,442
231
Agricultural and other
1,125
3,713
1,057
5,895
275,110
281,005

Total
$
14,484
$
12,929
$
74,138
$
101,551
$
11,119,170
$
11,220,721
$
9,610
Non-accruing loans at September 30, 2021 and December 31, 2020 were $47.6 million and $64.5 million, respectively. Interest recognized on impaired loans, including those loans with a specific reserve, during the three and nine months ended September 30, 2021 was approximately $3.3 million and $9.8 million, respectively. Interest recognized on impaired loans during the three and nine months ended September 30, 2020 was approximately $694,000 and $2.1 million, respectively. The amount of interest recognized on impaired loans on the cash basis is not materially different than the accrual basis. Credit Quality Indicators. As part of the on-going monitoring of the credit quality of the Company’s loan portfolio, management tracks certain credit quality indicators including trends related to (i) the risk rating of loans, (ii) the level of classified loans, (iii) net charge-offs, (iv) non-performing loans and (v) the general economic conditions in Arkansas, Florida, Alabama and New York. The Company utilizes a risk rating matrix to assign a risk rating to each of its loans. Loans are rated on a scale from 1 to 8. Descriptions of the general characteristics of the 8 risk ratings are as follows:

Risk rating 1 – Excellent. Loans in this category are to persons or entities of unquestionable financial strength, a highly liquid financial position, with collateral that is liquid and well margined. These borrowers have performed without question on past obligations, and the Bank expects their performance to continue. Internally generated cash flow covers current maturities of long-term debt by a substantial margin. Loans secured by bank certificates of deposit and savings accounts, with appropriate holds placed on the accounts, are to be rated in this category.

Risk rating 2 – Good. These are loans to persons or entities with strong financial condition and above-average liquidity that have previously satisfactorily handled their obligations with the Bank. Collateral securing the Bank’s debt is margined in accordance with policy guidelines. Internally generated cash flow covers current maturities of long-term debt more than adequately. Unsecured loans to individuals supported by strong financial statements and on which repayment is satisfactory may be included in this classification.

Risk rating 3 – Satisfactory. Loans to persons or entities with an average financial condition, adequate collateral margins, adequate cash flow to service long-term debt, and net worth comprised mainly of fixed assets are included in this category. These entities are minimally profitable now, with projections indicating continued profitability into the foreseeable future. Closely held corporations or businesses where a majority of the profits are withdrawn by the owners or paid in dividends are included in this rating category. Overall, these loans are basically sound.

Risk rating 4 – Watch. Borrowers who have marginal cash flow, marginal profitability or have experienced an unprofitable year and a declining financial condition characterize these loans. The borrower has in the past satisfactorily handled debts with the Bank, but in recent months has either been late, delinquent in making payments, or made sporadic payments. While the Bank continues to be adequately secured, margins have decreased or are decreasing, despite the borrower’s continued satisfactory condition. Other characteristics of borrowers in this class include inadequate credit information, weakness of financial statement and repayment capacity, but with collateral that appears to limit exposure.

Risk rating 5 – Other Loans Especially Mentioned (“OLEM”) . A loan criticized as OLEM has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the institution’s credit position at some future date. OLEM assets are not adversely classified and do not expose the institution to sufficient risk to warrant adverse classification.

Risk rating 6 – Substandard. A loan classified as substandard is inadequately protected by the sound worth and paying capacity of the borrower or the collateral pledged. Loss potential, while existing in the aggregate amount of substandard loans, does not have to exist in individual assets.

Risk rating 7 – Doubtful. A loan classified as doubtful has all the weaknesses inherent in a loan classified as substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. These are poor quality loans in which neither the collateral, if any, nor the financial condition of the borrower presently ensure collectability in full in a reasonable period of time; in fact, there is permanent impairment in the collateral securing the loan.

Risk rating 8 – Loss. Assets classified as loss are considered uncollectible and of such little value that the continuance as bankable assets is not warranted. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather, it is not practical or desirable to defer writing off this basically worthless asset, even though partial recovery may occur in the future. This classification is based upon current facts, not probabilities. Assets classified as loss should be charged-off in the period in which they became uncollectible. The Company’s classified loans include loans in risk ratings 6, 7 and 8. Loans may be classified, but not considered impaired, due to one of the following reasons: (1) The Company has established minimum dollar amount thresholds for loan impairment testing. All loans over $2.0 million that are rated 5 – 8 are individually assessed for impairment on a quarterly basis. Loans rated 5 – 8 that fall under the threshold amount are not individually tested for impairment and therefore are not included in impaired loans; (2) of the loans that are above the threshold amount and tested for impairment, after testing, some are considered to not be impaired and are not included in impaired loans. Based on the most recent analysis performed, the risk category of loans by class of loans as of September 30, 2021 and December 31, 2020 is as follows:
September 30, 2021
Term Loans Amortized Cost Basis by Origination Year
2021
2020
2019
2018
2017
Prior
Revolving Loans Amortized Cost Basis
Total
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
Risk rating 1
$

$

$

$

$

$

$

$

Risk rating 2






209,027
209,027
Risk rating 3
182,402
280,163
314,000
396,848
247,852
981,970
68,510
2,471,745
Risk rating 4
106,983
35,274
120,584
257,933
112,120
358,937
87
991,918
Risk rating 5

10,825
2,308
20,791
37,848
197,539

269,311
Risk rating 6


15,219
1,803
11,939
34,797

63,758
Risk rating 7








Risk rating 8





82

82
Total non-farm/non-residential
289,385
326,262
452,111
677,375
409,759
1,573,325
277,624
4,005,841
Construction/land development
Risk rating 1
$

$

$

$

$

$

$

$

Risk rating 2





235

235
Risk rating 3
150,620
228,246
100,935
33,933
23,005
42,863
166,151
745,753
Risk rating 4
117,314
215,084
501,761
45,824
40,377
39,461
23,650
983,471
Risk rating 5


416


1,177
1
1,594
Risk rating 6

115
874
8

10,636

11,633
Risk rating 7








Risk rating 8




1


1
Total construction/land development
267,934
443,445
603,986
79,765
63,383
94,372
189,802
1,742,687
Agricultural
Risk rating 1
$

$

$

$

$

$

$

$

Risk rating 2








Risk rating 3
18,093
30,708
8,005
6,673
5,412
21,538
6,616
97,045
Risk rating 4
4,389
2,120
367
1,164
771
30,233
1,388
40,432
Risk rating 5








Risk rating 6

45



1,359

1,404
Risk rating 7








Risk rating 8








Total agricultural
22,482
32,873
8,372
7,837
6,183
53,130
8,004
138,881
Total commercial real estate loans
$
579,801
$
802,580
$
1,064,469
$
764,977
$
479,325
$
1,720,827
$
475,430
$
5,887,409
Residential real estate loans
Residential 1-4 family
Risk rating 1
$

$

$

$

$

$
80
$
90
$
170
Risk rating 2





29

29
Risk rating 3
173,712
153,260
140,787
111,458
89,445
324,888
86,267
1,079,817
Risk rating 4
8,346
4,250
6,071
17,677
23,144
60,710
30,830
151,028
Risk rating 5


3,064
1,506
529
5,114
197
10,410
Risk rating 6
788
2,003
2,406
1,931
1,525
16,914
6,933
32,500
Risk rating 7








Risk rating 8




6
28

34
Total residential 1-4 family
182,846
159,513
152,328
132,572
114,649
407,763
124,317
1,273,988
Multifamily residential
Risk rating 1
$

$

$

$

$

$

$

$

Risk rating 2








Risk rating 3
8,496
10,243
35,143
34,974
9,825
46,473
7,782
152,936
Risk rating 4

11,271
27,202
3,435
3,009
21,128
37,047
103,092
Risk rating 5



7,621
8,170


15,791
Risk rating 6




897
1,415

2,312
Risk rating 7








Risk rating 8








Total multifamily residential
8,496
21,514
62,345
46,030
21,901
69,016
44,829
274,131
Total real estate
$
771,143
$
983,607
$
1,279,142
$
943,579
$
615,875
$
2,197,606
$
644,576
$
7,435,528
September 30, 2021
Term Loans Amortized Cost Basis by Origination Year, Continued
2021
2020
2019
2018
2017
Prior
Revolving Loans Amortized Cost Basis
Total
(In thousands)
Consumer
Risk rating 1
$
2,930
$
2,109
$
1,556
$
1,064
$
259
$
1,777
$
1,753
$
11,448
Risk rating 2


45
647

9

701
Risk rating 3
153,432
189,046
147,510
116,833
72,351
102,108
6,801
788,081
Risk rating 4
2,993
1,107
3,110
1,908
185
2,407
74
11,784
Risk rating 5

116

99
172
134

521
Risk rating 6

46
347
120

1,641
41
2,195
Risk rating 7








Risk rating 8




1
1

2
Total consumer
159,355
192,424
152,568
120,671
72,968
108,077
8,669
814,732
Commercial and industrial
Risk rating 1
$
210,222
$
28,846
$
371
$
157
$
169
$
21,457
$
11,885
$
273,107
Risk rating 2
19
19


87
280
175
580
Risk rating 3
75,240
77,113
95,166
52,322
25,516
55,060
148,891
529,308
Risk rating 4
132,855
35,907
107,294
98,787
35,085
37,893
75,883
523,704
Risk rating 5
6,197
158
2,019
8,387
5,725
3,077
672
26,235
Risk rating 6
1,222
15,430
6,736
25,441
5,570
4,633
330
59,362
Risk rating 7



1,777



1,777
Risk rating 8

2
1


1
2
6
Total commercial and industrial
425,755
157,475
211,587
186,871
72,152
122,401
237,838
1,414,079
Agricultural and other
Risk rating 1
$
11,231
$
203
$
43
$

$

$
112
$
375
$
11,964
Risk rating 2


3,467


908
809
5,184
Risk rating 3
58,313
60,137
5,395
7,572
2,187
50,145
14,162
197,911
Risk rating 4
6,034
376
157
1,542
1,408
1,487
9,441
20,445
Risk rating 5





597

597
Risk rating 6


27
14
33
586

660
Risk rating 7








Risk rating 8








Total agricultural and other
75,578
60,716
9,089
9,128
3,628
53,835
24,787
236,761
Total
$
1,431,831
$
1,394,222
$
1,652,386
$
1,260,249
$
764,623
$
2,481,919
$
915,870
$
9,901,100
December 31, 2020
Term Loans Amortized Cost Basis by Origination Year
2020
2019
2018
2017
2016
Prior
Revolving Loans Amortized Cost Basis
Total
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
Risk rating 1
$

$

$

$

$

$

$

$

Risk rating 2






25
25
Risk rating 3
301,237
340,562
546,670
286,173
289,483
942,449
266,867
2,973,441
Risk rating 4
27,239
139,354
161,461
265,684
197,979
300,055
17,305
1,109,077
Risk rating 5
10,591
16,865
67,089
7,764
108,885
84,609
750
296,553
Risk rating 6

859
2,289
987
4,577
40,600
86
49,398
Risk rating 7





552

552
Risk rating 8





14

14
Total non-farm/non-residential
339,067
497,640
777,509
560,608
600,924
1,368,279
285,033
4,429,060
Construction/land development
Risk rating 1
$

$

$

$

$

$

$

$

Risk rating 2





283

283
Risk rating 3
211,567
181,257
91,323
33,986
25,600
54,245
115,120
713,098
Risk rating 4
129,599
417,737
92,032
46,249
17,161
32,060
76,845
811,683
Risk rating 5


392
21,892

1,227
545
24,056
Risk rating 6

763
98
63
157
12,065

13,146
Risk rating 7








Risk rating 8



1

31

32
Total construction/land development
341,166
599,757
183,845
102,191
42,918
99,911
192,510
1,56

Goodwill and Core Deposits and

Goodwill and Core Deposits and Other Intangibles9 Months Ended
Sep. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Core Deposits and Other Intangibles6. Goodwill and Core Deposits and Other Intangibles Changes in the carrying amount and accumulated amortization of the Company’s goodwill and core deposits and other intangibles at September 30, 2021 and December 31, 2020, were as follows:
September 30, 2021
December 31, 2020
(In thousands)
Goodwill
Balance, beginning of period
$
973,025
$
958,408
Acquisitions

14,617
Balance, end of period
$
973,025
$
973,025
September 30, 2021
December 31, 2020
(In thousands)
Core Deposit and Other Intangibles
Balance, beginning of period
$
30,728
$
36,572
Amortization expense
(4,262
)
(4,423
)
Balance, September 30
26,466
32,149
Amortization expense
(1,421
)
Balance, end of year
$
30,728
The carrying basis and accumulated amortization of core deposits and other intangibles at September 30, 2021 and December 31, 2020 were :
September 30, 2021
December 31, 2020
(In thousands)
Gross carrying basis
$
86,625
$
86,625
Accumulated amortization
(60,159
)
(55,897
)
Net carrying amount
$
26,466
$
30,728
Core deposit and other intangible amortization expense was approximately $1.4 million for the three months ended September 30, 2021 and 2020. Core deposit and other intangible amortization expense was approximately $4.3 million and $4.4 million for the nine months ended September 30, 2021 and 2020. The Company’s estimated amortization expense of core deposits and other intangibles for each of the years 2021 through 2025 is approximately: 2021 – $5.7 million; 2022 – $5.7 million; 2023 – $5.5 million; 2024 – $4.3 million; 2025 – $3.9 million. The carrying amount of the Company’s goodwill was $973.0 million at each of September 30, 2021 and December 31, 2020. Goodwill is tested annually for impairment during the fourth quarter or more often if events and circumstances indicate there may be an impairment. If the implied fair value of goodwill is lower than its carrying amount, goodwill impairment is indicated, and goodwill is written down to its implied fair value. Subsequent increases in goodwill value are not recognized in the consolidated financial statements.

Other Assets

Other Assets9 Months Ended
Sep. 30, 2021
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Other Assets7. Other Assets Other assets consist primarily of equity securities without a readily determinable fair value and other miscellaneous assets. As of September 30, 2021 and December 31, 2020, other assets were $171.2 million and $164.9 million, respectively. The Company has equity securities without readily determinable fair values such as stock holdings in the Federal Home Loan Bank (“FHLB”) and the Federal Reserve Bank (“Federal Reserve”) which are outside the scope of ASC Topic 321, Investments – Equity Securities The Company has equity securities such as stock holdings in First National Bankers’ Bank and other miscellaneous holdings which are accounted for under ASC Topic 321. These equity securities without a readily determinable fair value were $34.8 million and $28.2 million at September 30, 2021 and December 31, 2020. There were no observable transactions during the period that would indicate a material change in fair value. Therefore, these investments were accounted for at cost, less impairment .

Deposits

Deposits9 Months Ended
Sep. 30, 2021
Deposits [Abstract]
Deposits8. Deposits The aggregate amount of time deposits with a minimum denomination of $250,000 was $476.6 and $558.0 million at September 30, 2021 and December 31, 2020. The aggregate amount of time deposits with a minimum denomination of $100,000 was $701.3 million and $864.3 million at September 30, 2021 and December 31, 2020, respectively. Deposits totaling approximately $1.86 billion and $1.98 billion at September 30, 2021 and December 31, 2020, respectively, were public funds obtained primarily from state and political subdivisions in the United States.

Securities Sold Under Agreement

Securities Sold Under Agreements to Repurchase9 Months Ended
Sep. 30, 2021
Brokers And Dealers [Abstract]
Securities Sold Under Agreements to Repurchase9. Securities Sold Under Agreements to Repurchase At September 30, 2021 and December 31, 2020, securities sold under agreements to repurchase totaled $141.0 million and $168.9 million, respectively. For the three-month periods ended September 30, 2021 and 2020, securities sold under agreements to repurchase daily weighted-average totaled $143.9 million and $157.2 million, respectively. For the nine months ended September 30, 2021 and 2020, securities sold under agreements to repurchase daily weighted-average totaled $153.7 million and $150.0 million, respectively. The remaining contractual maturity of securities sold under agreements to repurchase in the consolidated balance sheets as of September 30, 2021 and December 31, 2020 is presented in the following tables:
September 30, 2021
Overnight and Continuous
Up to 30 Days
30-90 Days
Greater than 90 Days
Total
(In thousands)
Securities sold under agreements to repurchase:
U.S. government-sponsored enterprises
$
8,753
$

$

$

$
8,753
Mortgage-backed securities
7,979



7,979
State and political subdivisions
121,412



121,412
Other securities
2,858



2,858
Total borrowings
$
141,002
$

$

$

$
141,002
December 31, 2020
Overnight and Continuous
Up to 30 Days
30-90 Days
Greater than 90 Days
Total
(In thousands)
Securities sold under agreements to repurchase:
U.S. government-sponsored enterprises
$
11,166
$

$

$

$
11,166
Mortgage-backed securities
18,830



18,830
State and political subdivisions
135,308



135,308
Other securities
3,627



3,627
Total borrowings
$
168,931
$

$

$

$
168,931

FHLB and Other Borrowed Funds

FHLB and Other Borrowed Funds9 Months Ended
Sep. 30, 2021
Advances From Federal Home Loan Banks [Abstract]
FHLB and Other Borrowed Funds10. FHLB and Other Borrowed Funds The Company’s FHLB borrowed funds, which are secured by our loan portfolio, were $400.0 million at both September 30, 2021 and December 31, 2020. Additionally, the Company had $1.12 billion and $1.11 billion at September 30, 2021 and December 31, 2020, in letters of credit under a FHLB blanket borrowing line of credit, which are used to collateralize public deposits at September 30, 2021 and December 31, 2020, respectively. The parent company took out a $20.0 million line of credit for general corporate purposes during 2015. The balance on this line of credit at September 30, 2021 and December 31, 2020 was zero.

Subordinated Debentures

Subordinated Debentures9 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]
Subordinated Debentures11. Subordinated Debentures Subordinated debentures at September 30, 2021 and December 31, 2020 consisted of subordinated debt securities and guaranteed payments on trust preferred securities with the following components:
As of September 30,
As of December 31,
2021
2020
(In thousands)
Trust preferred securities
Subordinated debentures, issued in 2006, due 2036, fixed rate of 6.75% during the first five years and at a floating rate of 1.85% three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty
$
3,093
$
3,093
Subordinated debentures, issued in 2004, due 2034, fixed rate of 6.00% during the first five years and at a floating rate of 2.00% three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty
15,464
15,464
Subordinated debentures, issued in 2005, due 2035, fixed rate of 5.84% during the first five years and at a floating rate of 1.45% three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty
25,774
25,774
Subordinated debentures, issued in 2004, due 2034, fixed rate of 4.29% during the first five years and at a floating rate of 2.50% three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty
16,495
16,495
Subordinated debentures, issued in 2005, due 2035, floating rate of 2.15% above the three-month LIBOR rate, reset quarterly, currently callable without penalty
4,489
4,452
Subordinated debentures, issued in 2006, due 2036, fixed rate of 7.38% during the first five years and at a floating rate of 1.62% three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty
5,919
5,849
Subordinated debt securities
Subordinated notes, net of issuance costs, issued in 2017, due 2027, fixed rate of 5.625% 3.575% thereafter, callable in 2022 without penalty
299,666
299,199
Total
$
370,900
$
370,326
Trust Preferred Securities. The Company holds trust preferred securities with a face amount of $73.3 million which are currently callable without penalty based on the terms of the specific agreements. The trust preferred securities are tax-advantaged issues that qualify for Tier 1 capital treatment subject to certain limitations. However, now that the Company has exceeded $15 billion in assets, the Tier 1 treatment of the Company’s outstanding trust preferred securities will be phased out upon completion of the acquisition of Happy Bancshares, but these securities will still be treated as Tier 2 capital. Distributions on these securities are included in interest expense. Each of the trusts is a statutory business trust organized for the sole purpose of issuing trust securities and investing the proceeds in the Company’s subordinated debentures, the sole asset of each trust. The trust preferred securities of each trust represent preferred beneficial interests in the assets of the respective trusts and are subject to mandatory redemption upon payment of the subordinated debentures held by the trust. The Company wholly owns the common securities of each trust. Each trust’s ability to pay amounts due on the trust preferred securities is solely dependent upon the Company making payment on the related subordinated debentures. The Company’s obligations under the subordinated securities and other relevant trust agreements, in aggregate, constitute a full and unconditional guarantee by the Company of each respective trust’s obligations under the trust securities issued by each respective trust. Subordinated Debt Securities . On April 3, 2017, the Company completed an underwritten public offering of $300.0 million in aggregate principal amount of its 5.625% Fixed-to-Floating Rate Subordinated Notes due 2027 (the “Notes”) for net proceeds, after underwriting discounts and issuance costs, of approximately $297.0 million. The Notes are unsecured, subordinated debt obligations and mature on April 15, 2027. From and including the date of issuance to, but excluding April 15, 2022, the Notes bear interest at an initial rate of 5.625% per annum. From and including April 15, 2022 to, but excluding the maturity date or earlier redemption, the Notes will bear interest at a floating rate equal to three-month LIBOR as calculated on each applicable date of determination plus a spread of 3.575%; provided, however, that in the event three-month LIBOR is less than zero, then three-month LIBOR shall be deemed to be zero The Company may, beginning with the interest payment date of April 15, 2022, and on any interest payment date thereafter, redeem the Notes, in whole or in part, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest to but excluding the date of redemption. The Company may also redeem the Notes at any time, including prior to April 15, 2022, at its option, in whole but not in part, if: (i) a change or prospective change in law occurs that could prevent the Company from deducting interest payable on the Notes for U.S. federal income tax purposes; (ii) a subsequent event occurs that could preclude the Notes from being recognized as Tier 2 capital for regulatory capital purposes; or (iii) the Company is required to register as an investment company under the Investment Company Act of 1940, as amended; in each case, at a redemption price equal to 100% of the principal amount of the Notes plus any accrued and unpaid interest to but excluding the redemption date. The Notes provide the Company with additional Tier 2 regulatory capital to support expected future growth.

Income Taxes

Income Taxes9 Months Ended
Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes12. Income Taxes The following is a summary of the components of the provision (benefit) for income taxes for the three and nine months ended September 30, 2021 and 2020:
For the Three Months Ended September 30,
For the Nine Months Ended September 30,
2021
2020
2021
2020
(In thousands)
Current:
Federal
$
14,693
$
16,271
$
52,771
$
57,154
State
4,864
5,386
17,470
18,921
Total current
19,557
21,657
70,241
76,075
Deferred:
Federal
2,744
(451
)
5,211
(29,071
)
State
908
(149
)
1,725
(9,624
)
Total deferred
3,652
(600
)
6,936
(38,695
)
Income tax expense
$
23,209
$
21,057
$
77,177
$
37,380
The reconciliation between the statutory federal income tax rate and effective income tax rate is as follows for the three and nine months ended September 30, 2021 and 2020:
Three Months Ended
Nine Months Ended
September 30,
September 30,
2021
2020
2021
2020
Statutory federal income tax rate
21.00
%
21.00
%
21.00
%
21.00
%
Effect of non-taxable interest income
(1.08
)
(1.03
)
(1.00
)
(1.48
)
Stock compensation
0.16
1.17
0.23
0.53
State income taxes, net of federal benefit
3.50
3.82
4.00
3.00
Executive officer compensation & other
0.05
(1.66
)
(0.32
)
(1.07
)
Effective income tax rate
23.63
%
23.30
%
23.91
%
21.98
% The types of temporary differences between the tax basis of assets and liabilities and their financial reporting amounts that give rise to deferred income tax assets and liabilities, and their approximate tax effects, are as follows:
September 30, 2021
December 31, 2020
(In thousands)
Deferred tax assets:
Allowance for credit losses
$
69,135
$
72,445
Deferred compensation
4,751
4,741
Stock compensation
5,475
4,768
Non-accrual interest income
853
775
Real estate owned
109
620
Loan discounts
4,151
6,806
Tax basis premium/discount on acquisitions
3,693
5,101
Investments
273
502
Deposits
(57
)
(33
)
Other
5,259
5,855
Gross deferred tax assets
93,642
101,580
Deferred tax liabilities:
Accelerated depreciation on premises and equipment
264
1,929
Unrealized gain on securities
9,735
15,072
Core deposit intangibles
6,066
7,056
FHLB dividends
2,807
2,711
Other
5,046
4,563
Gross deferred tax liabilities
23,918
31,331
Net deferred tax assets
$
69,724
$
70,249
The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction and the states of Alabama, Arizona, Arkansas, California, Florida, Georgia, Illinois, Kentucky, Maryland, New York, Oklahoma, Missouri, Pennsylvania, Tennessee, Texas and Wisconsin. The Company is no longer subject to U.S. federal and state tax examinations by tax authorities for years before 2018.

Common Stock, Compensation Plan

Common Stock, Compensation Plans and Other9 Months Ended
Sep. 30, 2021
Equity [Abstract]
Common Stock, Compensation Plans and Other13. Common Stock, Compensation Plans and Other Common Stock As of September 30, 2021, the Company’s Restated Articles of Incorporation, as amended, authorize the issuance of up to 300,000,000 shares of common stock, par value $0.01 per share. The Company also has the authority to issue up to 5,500,000 shares of preferred stock, par value $0.01 per share under the Company’s Restated Articles of Incorporation, as amended. Stock Repurchases During the first nine months of 2021, the Company repurchased a total of 1.4 million shares with a weighted-average stock price of $25.64 per share. Shares repurchased under the program as of September 30, 2021 since its inception total 17,349,835 shares. The remaining balance available for repurchase is 22,402,165 shares at September 30, 2021. Stock Compensation Plans The Company has a stock option and performance incentive plan known as the Amended and Restated 2006 Stock Option and Performance Incentive Plan (the “Plan”). The purpose of the Plan is to attract and retain highly qualified officers, directors, key employees, and other persons, and to motivate those persons to improve the Company’s business results. As of September 30, 2021, the maximum total number of shares of the Company’s common stock available for issuance under the Plan was 13,288,000. At September 30, 2021, the Company had approximately 1,602,000 shares of common stock remaining available for future grants and approximately 3,041,000 stock options outstanding for a total of approximately 4,643,000 shares of common stock reserved for issuance pursuant to outstanding awards under the Plan. The intrinsic value of the stock options outstanding and stock options vested at September 30, 2021 was $10.9 million and $9.7 million, respectively. The intrinsic value of stock options exercised during the nine months ended September 30, 2021 was approximately $1.7 million. Total unrecognized compensation cost, net of income tax benefit, related to non-vested stock option awards, which are expected to be recognized over the vesting periods, was approximately $6.5 million as of September 30, 2021. The table below summarizes the stock option transactions under the Plan at September 30, 2021 and December 31, 2020 and changes during the nine-month period and year then ended :
For the Nine Months Ended September 30, 2021
For the Year Ended December 31, 2020
Shares (000)
Weighted- Average Exercisable Price
Shares (000)
Weighted- Average Exercisable Price
Outstanding, beginning of year
3,254
$
19.77
3,411
$
19.60
Granted
15
21.68


Forfeited/Expired
(47
)
22.25
(76
)
21.95
Exercised
(181
)
15.27
(81
)
10.61
Outstanding, end of period
3,041
20.01
3,254
19.77
Exercisable, end of period
1,552
$
17.37
1,537
$
16.82
Stock-based compensation expense for stock-based compensation awards granted is based on the grant-date fair value. For stock option awards, the fair value is estimated at the date of grant using the Black-Scholes option-pricing model. This model requires the input of highly subjective assumptions, changes to which can materially affect the fair value estimate. Additionally, there may be other factors that would otherwise have a significant effect on the value of employee stock options granted but are not considered by the model. Accordingly, while management believes that the Black-Scholes option-pricing model provides a reasonable estimate of fair value, the model does not necessarily provide the best single measure of fair value for the Company's employee stock options. The weighted-average fair value of options granted during the nine months ended September 30, 2021 was $11.11 per share. There were no options granted during the year ended December 31, 2020. The fair value of each option granted is estimated on the date of grant using the Black-Scholes option-pricing model based on the weighted-average assumptions for expected dividend yield, expected stock price volatility, risk-free interest rate, and expected life of options granted. The assumptions used in determining the fair value of the 2021 and 2020 stock option grants were as follows:
For the Nine Months Ended September 30, 2021
For the Year Ended December 31, 2020
Expected dividend yield
2.59
%
Not Applicable
Expected stock price volatility
70.13
%
Not Applicable
Risk-free interest rate
0.75
%
Not Applicable
Expected life of options
6.5 years
Not Applicable
The following is a summary of currently outstanding and exercisable options at September 30, 2021:
Options Outstanding
Options Exercisable
Exercise Prices
Options Outstanding Shares (000)
Weighted- Average Remaining Contractual Life (in years)
Weighted- Average Exercise Price
Options Exercisable Shares (000)
Weighted- Average Exercise Price
$6.56 to $8.62
164
1.15
$
8.32
164
$
8.32
$9.54 to $14.71
140
2.80
13.23
140
13.23
$16.77 to $16.86
130
2.89
16.80
130
16.80
$17.12 to $17.36
102
3.47
17.14
102
17.14
$17.40 to $18.46
871
3.88
18.45
738
18.45
$18.50 to $20.16
41
7.53
19.05
14
19.04
$20.58 to $21.25
158
4.51
21.08
143
21.12
$21.31 to $22.22
112
6.85
22.18
60
22.22
$22.70 to $23.32
1,242
6.81
23.32
1
22.70
$23.51 to $25.96
81
5.72
25.63
60
25.81
3,041
1,552
The table below summarized the activity for the Company’s restricted stock issued and outstanding at September 30, 2021 and December 31, 2020 and changes during the period and year then ended:
As of September 30, 2021
As of December 31, 2020
(In thousands)
Beginning of year
1,371
1,636
Issued
215
264
Vested
(238
)
(453
)
Forfeited
(26
)
(76
)
End of period
1,322
1,371
Amount of expense for nine months and twelve months ended, respectively
$
5,307
$
6,824
Total unrecognized compensation cost, net of income tax benefit, related to non-vested restricted stock awards, which are expected to be recognized over the vesting periods, was approximately $16.6 million as of September 30, 2021.

Non-Interest Expense

Non-Interest Expense9 Months Ended
Sep. 30, 2021
Other Income And Expenses [Abstract]
Non-Interest Expense14. Non-Interest Expense The table below shows the components of non-interest expense for the three and nine months ended September 30, 2021 and 2020:
Three Months Ended
Nine Months Ended
September 30,
September 30,
2021
2020
2021
2020
(In thousands)
Salaries and employee benefits
$
42,469
$
41,511
$
126,990
$
120,928
Occupancy and equipment
9,305
9,566
27,584
28,611
Data processing expense
6,024
4,921
17,787
13,861
Merger and acquisition expenses
1,006

1,006
711
Other operating expenses:
Advertising
1,204
902
3,444
2,923
Amortization of intangibles
1,421
1,420
4,262
4,423
Electronic banking expense
2,521
2,426
7,375
6,195
Directors’ fees
395
429
1,192
1,265
Due from bank service charges
265
259
787
721
FDIC and state assessment
1,648
1,607
4,119
5,001
Insurance
749
766
2,317
2,223
Legal and accounting
1,050
1,235
2,954
3,432
Other professional fees
1,787
1,661
5,196
6,622
Operating supplies
474
460
1,426
1,548
Postage
301
328
931
968
Telephone
371
321
1,082
955
Other expense
4,629
3,900
13,015
12,757
Total other operating expenses
16,815
15,714
48,100
49,033
Total non-interest expense
$
75,619
$
71,712
$
221,467
$
213,144

Leases

Leases9 Months Ended
Sep. 30, 2021
Leases [Abstract]
Leases15. Leases The Company leases land and office facilities under long-term, non-cancelable operating lease agreements. The leases expire at various dates through 2042 and do not include renewal options based on economic factors that would have implied that continuation of the lease was reasonably certain. Certain leases provide for increases in future minimum annual rental payments as defined in the lease agreements. The leases generally include real estate taxes and common area maintenance (“CAM”) charges in the rental payments. Short-term leases are leases having a term of twelve months or less. As part of the adoption of Topic 842, the Company elected the package of practical expedients whereby we did not reassess (i) whether any expired or existing contracts are or contain leases, (ii) the lease classification for any expired or existing leases and (iii) initial direct costs for any existing leases. In accordance with ASU 2018-11, the Company elected the practical expedient whereby we elected to not separate nonlease components from the associated lease component of our operating leases. As a result, we account for these components as a single component under Topic 842 since (i) the timing and pattern of transfer of the nonlease components and the associated lease component are the same and (ii) the lease component, if accounted for separately, would be classified as an operating lease. The Company recognizes short term leases on a straight-line basis and does not record a related ROU asset and liability for such leases. In addition, equipment leases were determined to be immaterial and a related ROU asset and liability for such leases is not recorded. As of September 30, 2021, the balances of the right-of-use asset and lease liability was $40.8 million and $43.7 million, respectively. As of December 31, 2020, the balances of the right-of-use asset and lease liability was $40.2 million and $43.0 million, respectively The right-of-use asset is included in bank premises and equipment, net, and the lease liability is included in accrued interest payable and other liabilities. The minimum rental commitments under these noncancelable operating leases are as follows (in thousands) as of September 30, 2021 and December 31, 2020:
September 30, 2021
December 31, 2020
2021
$
2,910
$
8,235
2022
7,366
6,486
2023
6,535
5,714
2024
5,972
5,262
2025
5,510
4,818
Thereafter
30,388
27,453
Total future minimum lease payments
$
58,681
$
57,968
Discount effect of cash flows
(15,017
)
(14,922
)
Present value of net future minimum lease payments
$
43,664
$
43,046
Additional information (dollar amounts in thousands):
For the Three Months Ended
For the Nine Months Ended
Lease expense:
September 30, 2021
September 30, 2020
September 30, 2021
September 30, 2020
Operating lease expense
$
1,971
$
2,044
$
5,961
$
6,085
Short-term lease expense
1
9
5
41
Variable lease expense
250
253
759
772
Total lease expense
$
2,222
$
2,306
$
6,725
$
6,898
Other information:
Cash paid for amounts included in the measurement of lease liabilities
$
1,988
$
2,021
$
5,956
$
6,013
Weighted-average remaining lease term (in years)
9.67
10.08
9.78
10.21
Weighted-average discount rate
3.42
%
3.60
%
3.49
%
3.61
% The Company currently leases three properties from three related parties. Total rent expense from the leases was $36,000 or 1.64% of total lease expense and $107,000 or 1.59% of total lease expense for the three and nine months ended September 30, 2021, respectively.

Significant Estimates and Conce

Significant Estimates and Concentrations of Credit Risks9 Months Ended
Sep. 30, 2021
Text Block [Abstract]
Significant Estimates and Concentrations of Credit Risks16. Significant Estimates and Concentrations of Credit Risks Accounting principles generally accepted in the United States of America require disclosure of certain significant estimates and current vulnerabilities due to certain concentrations. Estimates related to the allowance for credit losses and certain concentrations of credit risk are reflected in Note 5, while deposit concentrations are reflected in Note 8. The Company’s primary market areas are in Arkansas, Florida, South Alabama and New York. The Company primarily grants loans to customers located within these markets unless the borrower has an established relationship with the Company. The diversity of the Company’s economic base tends to provide a stable lending environment. Although the Company has a loan portfolio that is diversified in both industry and geographic area, a substantial portion of its debtors’ ability to honor their contracts is dependent upon real estate values, tourism demand and the economic conditions prevailing in its market areas. Although the Company has a diversified loan portfolio, at September 30, 2021 and December 31, 2020, commercial real estate loans represented 59.5% and 54.4% of total loans receivable, respectively, and 215.2% and 234.3% of total stockholders’ equity at September 30, 2021 and December 31, 2020, respectively. Residential real estate loans represented 15.6% and 18.5% of total loans receivable and 56.6% and 79.6% of total stockholders’ equity at September 30, 2021 and December 31, 2020, respectively. Approximately 74.2% of the Company’s total loans and 76.4% of the Company’s real estate loans as of September 30, 2021, are to borrowers whose collateral is located in Alabama, Arkansas, Florida and New York, the states in which the Company has its branch locations. As of September 30, 2021, the markets in which we operate have begun to experience economic recovery. However, there is still a significant amount of uncertainty related to the COVID-19 pandemic which may slow the anticipated economic recovery. The Company determined that an additional provision for credit losses was not necessary as the current level of the allowance for credit losses was considered adequate as of September 30, 2021. During the nine months ended September 30, 2021, the Company recorded a negative provision for unfunded commitments of $4.8 million. This was primarily due to a single commercial & industrial loan for which a reserve was no longer considered necessary due to the borrower’s current cash flow position . Any future volatility in the economy could cause the values of assets and liabilities recorded in the financial statements to change rapidly, resulting in material future adjustments in asset values, the allowance for credit losses and capital that could negatively impact the Company’s ability to meet regulatory capital requirements and maintain sufficient liquidity.

Commitments and Contingencies

Commitments and Contingencies9 Months Ended
Sep. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies17. Commitments and Contingencies In the ordinary course of business, the Company makes various commitments and incurs certain contingent liabilities to fulfill the financing needs of their customers. These commitments and contingent liabilities include lines of credit and commitments to extend credit and issue standby letters of credit. The Company applies the same credit policies and standards as they do in the lending process when making these commitments. The collateral obtained is based on the assessed creditworthiness of the borrower. At September 30, 2021 and December 31, 2020, commitments to extend credit of $3.11 billion and $2.82 billion, respectively, were outstanding. A percentage of these balances are participated out to other banks; therefore, the Company can call on the participating banks to fund future draws. Since some of these commitments are expected to expire without being drawn upon, the total commitment amount does not necessarily represent future cash requirements. Outstanding standby letters of credit are contingent commitments issued by the Company, generally to guarantee the performance of a customer in third-party borrowing arrangements. The term of the guarantee is dependent upon the creditworthiness of the borrower, some of which are long-term. The amount of collateral obtained, if deemed necessary, is based on management’s credit evaluation of the counterparty. Collateral held varies but may include accounts receivable, inventory, property, plant and equipment, commercial real estate and residential real estate. Management uses the same credit policies in granting lines of credit as it does for on-balance-sheet instruments. The maximum amount of future payments the Company could be required to make under these guarantees at September 30, 2021 and December 31, 2020, is $90.6 million and $56.1 million, respectively. The Company and/or its bank subsidiary have various unrelated legal proceedings, most of which involve loan foreclosure activity pending, which, in the aggregate, are not expected to have a material adverse effect on the financial position or results of operations or cash flows of the Company and its subsidiary.

Regulatory Matters

Regulatory Matters9 Months Ended
Sep. 30, 2021
Regulatory Matters [Abstract]
Regulatory Matters18. Regulatory Matters The Bank is subject to a legal limitation on dividends that can be paid to the parent company without prior approval of the applicable regulatory agencies. Arkansas bank regulators have specified that the maximum dividend limit state banks may pay to the parent company without prior approval is 75% of the current year earnings plus 75% of the retained net earnings of the preceding year. Since the Bank is also under supervision of the Federal Reserve, it is further limited if the total of all dividends declared in any calendar year by the Bank exceeds the Bank’s net profits to date for that year combined with its retained net profits for the preceding two years. During the first nine months of 2021, the Company requested approximately $195.6 million in regular dividends from its banking subsidiary. The Company’s banking subsidiary is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company must meet specific capital guidelines that involve quantitative measures of the Company’s assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The Company’s capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Furthermore, the Company’s regulators could require adjustments to regulatory capital not reflected in the consolidated financial statements. Quantitative measures established by regulation to ensure capital adequacy require the Company to maintain minimum amounts and ratios of total, common Tier 1 equity and Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined) and of Tier 1 capital (as defined) to average assets (as defined). Management believes that, as of September 30, 2021, the Company meets all capital adequacy requirements to which it is subject. On December 21, 2018, the federal banking agencies issued a joint final rule to revise their regulatory capital rules to permit bank holding companies and banks to phase-in, for regulatory capital purposes, the day-one impact of the new CECL accounting rule on retained earnings over a period of three years. As part of its response to the impact of COVID-19, on March 27, 2020, the federal banking regulatory agencies issued an interim final rule that provided the option to temporarily delay certain effects of CECL on regulatory capital for two years, followed by a three-year transition period. The interim final rule allows bank holding companies and banks to delay for two years 100% of the day-one impact of adopting CECL and 25% of the cumulative change in the reported allowance for credit losses since adopting CECL. The Company elected to adopt the interim final rule, which is reflected in the risk-based capital ratios presented below. In July 2013, the Federal Reserve Board and the other federal bank regulatory agencies issued a final rule to revise their risk-based and leverage capital requirements and their method for calculating risk-weighted assets to make them consistent with the agreements that were reached by the Basel Committee on Banking Supervision in “Basel III: A Global Regulatory Framework for More Resilient Banks and Banking Systems” and certain provisions of the Dodd-Frank Act (“Basel III”). Basel III applies to all depository institutions, bank holding companies with total consolidated assets of $500 million or more, and savings and loan holding companies. Basel III became effective for the Company and its bank subsidiary on January 1, 2015. Basel III limits a banking organization’s capital distributions and certain discretionary bonus payments if the banking organization does not hold a “capital conservation buffer” of 2.5% of common equity Tier 1 capital to risk-weighted assets, which is in addition to the amount necessary to meet its minimum risk-based capital requirements. The capital conservation buffer requirement began being phased in beginning January 1, 2016 at the 0.625% level and increased by 0.625% on each subsequent January 1, until it reached 2.5% on January 1, 2019 when the phase-in period ended, and the full capital conservation buffer requirement became effective. Basel III permanently grandfathers trust preferred securities and other non-qualifying capital instruments that were issued and outstanding as of May 19, 2010 in the Tier 1 capital of bank holding companies with total consolidated assets of less than $15 billion as of December 31, 2009. The rule phases out of Tier 1 capital these non-qualifying capital instruments issued before May 19, 2010 by all other bank holding companies. Because our total consolidated assets were less than $15 billion as of December 31, 2009, our outstanding trust preferred securities continue to be treated as Tier 1 capital. However, now that the Company has exceeded $15 billion in assets, the Tier 1 treatment of the Company’s outstanding trust preferred securities will be phased out upon completion of the acquisition of Happy Bancshares, but these securities will still be treated as Tier 2 capital. Basel III also amended the prompt corrective action rules to incorporate a “common equity Tier 1 capital” requirement and to raise the capital requirements for certain capital categories. In order to be adequately capitalized for purposes of the prompt corrective action rules, a banking organization will be required to have at least a 4.5% “common equity Tier 1 risk-based capital” ratio, a 4% “Tier 1 leverage capital” ratio, a 6% “Tier 1 risk-based capital” ratio and an 8% “total risk-based capital” ratio . The Federal Reserve Board’s risk-based capital guidelines include the definitions for (1) a well-capitalized institution, (2) an adequately-capitalized institution, and (3) an undercapitalized institution. Under Basel III, the criteria for a well-capitalized institution are now: a 6.5% “common equity Tier 1 risk-based capital” ratio, a 5% “Tier 1 leverage capital” ratio, an 8% “Tier 1 risk-based capital” ratio, and a 10% “total risk-based capital” ratio . As of September 30, 2021, the Bank met the capital standards for a well-capitalized institution. The Company’s “common equity Tier 1 risk-based capital” ratio, “Tier 1 leverage capital” ratio, “Tier 1 risk-based capital” ratio, and “total risk-based capital” ratio were 15.12%, 11.00%, 15.73%, and 19.55%, respectively,

Additional Cash Flow Informatio

Additional Cash Flow Information9 Months Ended
Sep. 30, 2021
Supplemental Cash Flow Elements [Abstract]
Additional Cash Flow Information19. Additional Cash Flow Information In connection with the LH-Finance acquisition, accounted for using the purchase method, the Company acquired approximately $409.1 million in assets, including $407.4 million in loans as of February 29, 2020, and paid $421.2 million in cash. The following is a summary of the Company’s additional cash flow information during the nine-month periods ended:
September 30,
2021
2020
(In thousands)
Interest paid
$
36,757
$
72,909
Income taxes paid
82,245
54,698
Assets acquired by foreclosure
2,058
1,673

Financial Instruments

Financial Instruments9 Months Ended
Sep. 30, 2021
Fair Value Disclosures [Abstract]
Financial Instruments20. Financial Instruments Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There is a hierarchy of three levels of inputs that may be used to measure fair values:
Level 1
Quoted prices in active markets for identical assets or liabilities
Level 2
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 for substantially the full term of the assets or liabilities
Level 3
Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Transfers of financial instruments between levels within the fair value hierarchy are recognized on the date management determines that the underlying circumstances or assumptions have changed. Financial Assets and Liabilities Measured on a Recurring Basis Available-for-sale securities are the only material instruments valued on a recurring basis which are held by the Company at fair value. The Company does not have any Level 1 securities. Primarily all of the Company's securities are considered to be Level 2 securities. These Level 2 securities consist primarily of U.S. government-sponsored enterprises, mortgage-backed securities plus state and political subdivisions. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. As of September 30, 2021 and December 31, 2020, Level 3 securities were immaterial. In addition, there were no material transfers between hierarchy levels during 2021 and 2020. See Note 3 for additional detail related to investment securities. The Company reviews the prices supplied by the independent pricing service, as well as their underlying pricing methodologies, for reasonableness and to ensure such prices are aligned with traditional pricing matrices. In general, the Company does not purchase investment portfolio securities with complicated structures. Pricing for the Company’s investment securities is fairly generic and is easily obtained. The Company uses a third-party comparison pricing vendor in order to reflect consistency in the fair values of the investment securities sampled by the Company each quarter. Financial Assets and Liabilities Measured on a Nonrecurring Basis Impaired loans that are collateral dependent are the only material financial assets valued on a non-recurring basis which are held by the Company at fair value. Loan impairment is reported when full payment under the loan terms is not expected. Impaired loans are carried at the net realizable value of the collateral if the loan is collateral dependent. A portion of the allowance for credit losses is allocated to impaired loans if the value of such loans is deemed to be less than the unpaid balance. If these allocations cause the allowance for credit losses to require an increase, such increase is reported as a component of the provision for credit losses . The fair value of loans with specific allocated losses was $252.8 million and $102.1 million as of September 30, 2021 and December 31, 2020, respectively. The increase in collateral-dependent impaired loans was due to the Company changing the valuation for lodging and assisted living loans to a market price valuation methodology. This involved assigning a 15% discount of par for these impaired loans. In the event of default, liquidation would be achieved through a loan sale. The Company is continuing to monitor these impaired loans and will adjust the discount as necessary. This valuation is considered Level 3, The Company reversed approximately $92,000 and $388,000 of accrued interest receivable when impaired loans were put on non-accrual status during the three months ended September 30, 2021 and 2020, respectively. The Company reversed approximately $276,000 and $811,000 of accrued interest receivable when impaired loans were put on non-accrual status during the nine months ended September 30, 2021 and 2020, respectively. Nonfinancial Assets and Liabilities Measured on a Nonrecurring Basis Foreclosed assets held for sale are the only material non-financial assets valued on a non-recurring basis which are held by the Company at fair value, less estimated costs to sell. At foreclosure, if the fair value, less estimated costs to sell, of the real estate acquired is less than the Company’s recorded investment in the related loan, a write-down is recognized through a charge to the allowance for credit losses. Additionally, valuations are periodically performed by management and any subsequent reduction in value is recognized by a charge to income. The fair value of foreclosed assets held for sale is estimated using Level 3 inputs based on appraisals of underlying collateral. As of September 30, 2021 and December 31, 2020, the fair value of foreclosed assets held for sale, less estimated costs to sell, was $1.2 million and $4.4 million, respectively. No foreclosed assets held for sale were remeasured during the nine months ended September 30, 2021. Regulatory guidelines require the Company to reevaluate the fair value of foreclosed assets held for sale on at least an annual basis. The Company’s policy is to comply with the regulatory guidelines. The significant unobservable (Level 3) inputs used in the fair value measurement of collateral for collateral-dependent impaired loans and foreclosed assets primarily relate to customized discounting criteria applied to the customer’s reported amount of collateral. The amount of the collateral discount depends upon the condition and marketability of the underlying collateral. As the Company’s primary objective in the event of default would be to monetize the collateral to settle the outstanding balance of the loan, less marketable collateral would receive a larger discount. During the reported periods, collateral discounts ranged from 25% to 55% for commercial and residential real estate collateral. Fair Values of Financial Instruments The following table presents the estimated fair values of the Company’s financial instruments. Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date .
September 30, 2021
Carrying
Amount
Fair Value
Level
(In thousands)
Financial assets:
Cash and cash equivalents
$
3,280,256
$
3,280,256
1
Loans receivable, net of impaired loans and allowance
9,409,596
9,687,138
3
Accrued interest receivable
48,577
48,577
1
FHLB, Federal Reserve & First National Bankers Bank stock; other equity investments
122,824
122,824
3
Financial liabilities:
Deposits:
Demand and non-interest bearing
$
4,139,149
$
4,139,149
1
Savings and interest-bearing transaction accounts
8,813,326
8,813,326
1
Time deposits
1,050,896
1,089,205
3
Securities sold under agreements to repurchase
141,002
141,002
1
FHLB and other borrowed funds
400,000
403,489
2
Accrued interest payable
9,409
9,409
1
Subordinated debentures
370,900
377,839
3
December 31, 2020
Carrying
Amount
Fair Value
Level
(In thousands)
Financial assets:
Cash and cash equivalents
$
1,263,788
$
1,263,788
1
Loans receivable, net of impaired loans and allowance
10,873,120
11,292,004
3
Accrued interest receivable
60,528
60,528
1
FHLB, Federal Reserve & First National Bankers Bank stock; other equity investments
114,854
114,854
3
Financial liabilities:
Deposits:
Demand and non-interest bearing
$
3,266,753
$
3,266,753
1
Savings and interest-bearing transaction accounts
8,212,240
8,212,240
1
Time deposits
1,246,797
1,266,430
3
Securities sold under agreements to repurchase
168,931
168,931
1
FHLB and other borrowed funds
400,000
414,207
2
Accrued interest payable
5,925
5,925
1
Subordinated debentures
370,326
378,981
3

Recent Accounting Pronouncement

Recent Accounting Pronouncements9 Months Ended
Sep. 30, 2021
Accounting Changes And Error Corrections [Abstract]
Recent Accounting Pronouncements21. Recent Accounting Pronouncements In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract, In November 2018, the FASB issued ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments-Credit Losses. In March 2019, the FASB issued ASU 2019-01, Leases (Topic 842) Codification Improvements fair value In April 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments – Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments. clarify certain aspects of the accounting for credit losses, hedging activities, and financial instruments (addressed by ASUs 2016-13, 2017-12 and 2016-01, respectively). In May 2019, the FASB issued ASU 2019-05, Financial Instruments – Credit Losses (Topic 326): Targeted Transition Relief provide transition relief for entities adopting the Board’s credit losses standard, ASU 2016-13. Specifically, ASU 2019-05 amends ASU 2016-13 to allow companies to irrevocably elect, upon adoption of ASU 2016-13, the fair value option for financial instruments that were previously recorded at amortized cost and are within the scope of the credit losses guidance in ASC 326-20, are eligible for the fair value option under ASC 825-10, and are not held-to-maturity debt securities. In November 2019, the FASB issued ASU 2019-11, Codification Improvements to Topic 326, Financial Instruments – Credit Losses. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. In March 2020, the FASB issued ASU 2020-04 ,“Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law. Section 4013 of the CARES Act provides financial institutions the temporary option to not apply , Receivables—Troubled Debt Restructurings by Creditors All of the customers currently on deferment chose principal deferment only and now have returned to paying interest monthly In January 2021, the FASB issued ASU 2021-01, “Reference Rate Reform (Topic 848): Scope.”

Nature of Operations and Summ_2

Nature of Operations and Summary of Significant Accounting Policies (Policies)9 Months Ended
Sep. 30, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Operating SegmentsOperating Segments Operating segments are components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Bank is the only significant subsidiary upon which management makes decisions regarding how to allocate resources and assess performance. Each of the branches of the Bank provide a group of similar banking services, including such products and services as commercial, real estate and consumer loans, time deposits, checking and savings accounts. The individual bank branches have similar operating and economic characteristics. While the chief decision maker monitors the revenue streams of the various products, services and branch locations, operations are managed, and financial performance is evaluated on a Company-wide basis. Accordingly, all of the banking services and branch locations are considered by management to be aggregated into one reportable operating segment.
Use of EstimatesUse of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses, the valuation of investment securities, the valuation of foreclosed assets and the valuations of assets acquired, and liabilities assumed in business combinations. In connection with the determination of the allowance for credit losses and the valuation of foreclosed assets, management obtains independent appraisals for significant properties.
Principles of ConsolidationPrinciples of Consolidation The consolidated financial statements include the accounts of HBI and its subsidiaries. Significant intercompany accounts and transactions have been eliminated in consolidation.
ReclassificationsReclassifications Various items within the accompanying consolidated financial statements for previous years have been reclassified to provide more comparative information. These reclassifications had no effect on net earnings or stockholders’ equity.
Interim financial informationInterim financial information The accompanying unaudited consolidated financial statements as of September 30, 2021 and 2020 have been prepared in condensed format, and therefore do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. The information furnished in these interim statements reflects all adjustments which are, in the opinion of management, necessary for a fair statement of the results for each respective period presented. Such adjustments are of a normal recurring nature. The results of operations in the interim statements are not necessarily indicative of the results that may be expected for any other quarter or for the full year. The interim financial information should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s 2020 Form 10-K, filed with the Securities and Exchange Commission.
New Accounting PronouncementsNew Accounting Pronouncements The Company adopted ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments The Company adopted ASC 326 using the modified retrospective method for loans and off-balance-sheet (“OBS”) credit exposures. Results for reporting periods beginning after January 1, 2020 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. The Company recorded a one-time cumulative-effect adjustment to the allowance for credit losses of $44.0 million which was recognized through a $32.5 million adjustment to retained earnings, net of tax. This adjustment brought the beginning balance of the allowance for credit losses to $146.1 million as of January 1, 2020. In addition, the Company recorded a $15.5 million reserve on unfunded commitments which was recognized through an $11.5 million adjustment to retained earnings, net of tax. The Company adopted ASC 326 using the prospective transition approach for financial assets purchased with credit deterioration (“PCD”) that were previously classified as purchased credit impaired (“PCI”) and accounted for under ASC 310-30. In 2019, the Company reevaluated its loan pools of purchased loans with deteriorated credit quality. These loans pools related specifically to acquired loans from the Heritage, Liberty, Landmark, Bay Cities, Bank of Commerce, Premier Bank, Stonegate and Shore Premier Finance acquisitions. At acquisition, a portion of these loans was recorded as purchased credit impaired loans on a pool by pool basis. Through the reevaluation of these loan pools, management determined that estimated losses for purchase credit impaired loans should be processed against the credit mark of the applicable pools. The remaining non-accretable mark was then moved to accretable mark to be recognized over the remaining weighted average life of the loan pools. The projected losses for these loans were less than the total credit mark. As such, the remaining $107.6 million of loans in these pools along with the $29.3 million in accretable yield was deemed to be immaterial and was reclassified out of the purchased credit impaired loans category. As of December 31, 2019, the Company no longer held any purchased loans with deteriorated credit quality. Therefore, the Company did not have any PCI loans upon adoption on of ASC 326 as of January 1, 2020. The Company has purchased loans, some of which have experienced more than insignificant credit deterioration since origination. PCD loans are recorded at the amount paid. An allowance for credit losses is determined using the same methodology as other loans. The initial allowance for credit losses determined on a collective basis is allocated to individual loans. The sum of the loan’s purchase price and allowance for credit losses becomes its initial amortized cost basis. The difference between the initial amortized cost basis and the par value of the loan is a noncredit discount or premium, which is amortized into interest income over the life of the loan. Subsequent changes to the allowance for credit losses are recorded through the provision for credit loss. The Company adopted ASC 326 using the prospective transition approach for debt securities for which other-than-temporary impairment had been recognized prior to January 1, 2020. As of December 31, 2019, the Company did not have any other-than-temporarily impaired investment securities. Therefore, upon adoption of ASC 326, the Company determined than an allowance for credit losses on available-for-sale securities was not deemed material. However, the Company evaluated the investment portfolio during the first quarter of 2020 and determined that an $842,000 provision for credit losses was necessary. No additional provision was deemed necessary during the remaining quarters of 2020 or the first three quarters of 2021. The following table illustrates the impact of the adoption of ASC 326 on the Company’s 2020 consolidated balance sheet.
January 1, 2020
As Reported Under ASC 326
Pre-ASC 326 Adoption
Impact of ASC 326 Adoption
(In thousands)
Assets:
Allowance for credit losses on loans
$
146,110
$
102,122
$
43,988
Liabilities:
Allowance for credit losses on OBS credit exposures (included in other liabilities)
15,521

15,521
Revenue RecognitionRevenue Recognition Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers

Service charges on deposit accounts – These represent general service fees for monthly account maintenance and activity or transaction-based fees and consist of transaction-based revenue, time-based revenue (service period), item-based revenue or some other individual attribute-based revenue. Revenue is recognized when our performance obligation is completed which is generally monthly for account maintenance services or when a transaction has been completed (such as a wire transfer). Payment for such performance obligations are generally received at the time the performance obligations are satisfied.

Other service charges and fees – These represent credit card interchange fees and Centennial Commercial Finance Group (“Centennial CFG”) loan fees. The interchange fees are recorded in the period the performance obligation is satisfied which is generally the cash basis based on agreed upon contracts. The Centennial CFG loan fees are based on loan or other negotiated agreements with customers and are accounted for under ASC Topic 310.
Earnings per ShareEarnings per Share Basic earnings per share is computed based on the weighted-average number of shares outstanding during each year. Diluted earnings per share is computed using the weighted-average shares and all potential dilutive shares outstanding during the period. The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the following periods:
Three Months Ended September 30,
Nine Months Ended September 30,
2021
2020
2021
2020
(In thousands)
Net income
$
74,992
$
69,320
$
245,664
$
132,654
Average shares outstanding
164,126
165,200
164,717
165,458
Effect of common stock options
477

333

Average diluted shares outstanding
164,603
165,200
165,050
165,458
Basic earnings per share
$
0.46
$
0.42
$
1.49
$
0.80
Diluted earnings per share
$
0.46
$
0.42
$
1.49
$
0.80
As of September 30, 2020, options to purchase 3.3 million shares of common stock with a weighted average exercise price of $19.56 were excluded from the computation of diluted earnings per share as the majority of the options had an exercise price which was greater than the average market price of the common stock.

Nature of Operations and Summ_3

Nature of Operations and Summary of Significant Accounting Policies (Tables)9 Months Ended
Sep. 30, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Summary of Impact of Adoption of ASC 326 in Consolidated Balance SheetThe following table illustrates the impact of the adoption of ASC 326 on the Company’s 2020 consolidated balance sheet.
January 1, 2020
As Reported Under ASC 326
Pre-ASC 326 Adoption
Impact of ASC 326 Adoption
(In thousands)
Assets:
Allowance for credit losses on loans
$
146,110
$
102,122
$
43,988
Liabilities:
Allowance for credit losses on OBS credit exposures (included in other liabilities)
15,521

15,521
Computation of Basic and Diluted Earnings per Common Share (EPS)The following table sets forth the computation of basic and diluted earnings per share (“EPS”) for the following periods:
Three Months Ended September 30,
Nine Months Ended September 30,
2021
2020
2021
2020
(In thousands)
Net income
$
74,992
$
69,320
$
245,664
$
132,654
Average shares outstanding
164,126
165,200
164,717
165,458
Effect of common stock options
477

333

Average diluted shares outstanding
164,603
165,200
165,050
165,458
Basic earnings per share
$
0.46
$
0.42
$
1.49
$
0.80
Diluted earnings per share
$
0.46
$
0.42
$
1.49
$
0.80

Investment Securities (Tables)

Investment Securities (Tables)9 Months Ended
Sep. 30, 2021
Investments Debt And Equity Securities [Abstract]
Amortized Cost and Fair Value of Securities Available-for-SaleThe following table summarizes the amortized cost and fair value of securities available-for-sale and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss):
September 30, 2021
Available-for-Sale
Amortized Cost
Gross Unrealized Gains
Gross Unrealized (Losses)
Estimated Fair Value
(In thousands)
U.S. government-sponsored enterprises
$
439,181
$
2,702
$
(1,720
)
$
440,163
Residential mortgage-backed securities
1,198,016
6,812
(9,064
)
1,195,764
Commercial mortgage-backed securities
403,840
10,656
(922
)
413,574
State and political subdivisions
965,993
27,356
(2,205
)
991,144
Other securities
109,216
1,137
(390
)
109,963
Total
$
3,116,246
$
48,663
$
(14,301
)
$
3,150,608
December 31, 2020
Available-for-Sale
Amortized Cost
Gross Unrealized Gains
Gross Unrealized (Losses)
Estimated Fair Value
(In thousands)
U.S. government-sponsored enterprises
$
325,860
$
2,338
$
(1,207
)
$
326,991
Residential mortgage-backed securities
703,138
10,607
(688
)
713,057
Commercial mortgage-backed securities
446,964
18,048
(126
)
464,886
State and political subdivisions
898,174
31,173
(1,454
)
927,893
Other securities
40,755
434
(235
)
40,954
Total
$
2,414,891
$
62,600
$
(3,710
)
$
2,473,781
Amortized Cost and Estimated Fair Value of Securities Contractual MaturityThe amortized cost and estimated fair value of securities classified as available-for-sale at September 30, 2021, by contractual maturity, are shown below. Expected maturities could differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.
Available-for-Sale
Amortized Cost
Estimated Fair Value
(In thousands)
Due in one year or less
$
9,391
$
9,399
Due after one year through five years
78,839
79,824
Due after five years through ten years
348,801
350,567
Due after ten years
1,075,359
1,099,480
Mortgage - backed securities: Residential
1,198,016
1,195,764
Mortgage - backed securities: Commercial
403,840
413,574
Other
2,000
2,000
Total
$
3,116,246
$
3,150,608
Unrealized Losses and Estimated Fair Value of Investment Securities Available for SaleThe following table shows gross unrealized losses and estimated fair value of investment securities classified as available-for-sale, aggregated by investment category and length of time that individual investment securities have been in a continuous loss position as of September 30, 2021 and December 31, 2020.
September 30, 2021
Less Than 12 Months
12 Months or More
Total
Fair Value
Unrealized Losses
Fair Value
Unrealized Losses
Fair Value
Unrealized Losses
(In thousands)
U.S. government-sponsored enterprises
$
80,986
$
(1,015
)
$
56,150
$
(705
)
$
137,136
$
(1,720
)
Residential mortgage-backed securities
762,805
(8,216
)
31,319
(848
)
794,124
(9,064
)
Commercial mortgage-backed securities
81,615
(906
)
6,245
(16
)
87,860
(922
)
State and political subdivisions
149,056
(980
)
16,887
(1,225
)
165,943
(2,205
)
Other securities
41,421
(340
)
4,263
(50
)
45,684
(390
)
Total
$
1,115,883
$
(11,457
)
$
114,864
$
(2,844
)
$
1,230,747
$
(14,301
)
December 31, 2020
Less Than 12 Months
12 Months or More
Total
Fair Value
Unrealized Losses
Fair Value
Unrealized Losses
Fair Value
Unrealized Losses
(In thousands)
U.S. government-sponsored enterprises
$
54,611
$
(383
)
$
95,249
$
(824
)
$
149,860
$
(1,207
)
Residential mortgage-backed securities
143,458
(643
)
4,900
(45
)
148,358
(688
)
Commercial mortgage-backed securities
26,886
(126
)


26,886
(126
)
State and political subdivisions
78,349
(1,454
)


78,349
(1,454
)
Other securities
5,434
(100
)
8,748
(135
)
14,182
(235
)
Total
$
308,738
$
(2,706
)
$
108,897
$
(1,004
)
$
417,635
$
(3,710
)
Schedule of Allowance for Credit Losses on Investment SecuritiesSeptember 30, 2021
December 31, 2020
(In thousands)
Allowance for credit losses:
Beginning balance
$
842
$

Provision for credit loss - investment securities

842
Balance, September 30
$
842
$
842
Provision for credit loss - investment securities

Balance, December 31, 2020
$
842
Schedule of Income Earned on Available-for Sale SecuritiesIncome earned on available-for sale securities for the three and nine months ended September 30, 2021 and 2020, is as follows:
For the Three Months Ended September 30,
For the Nine Months Ended September 30,
2021
2020
2021
2020
(In thousands)
Taxable
$
8,495
$
7,227
$
21,933
$
25,696
Non-taxable
4,839
4,367
14,815
11,179
Total
$
13,334
$
11,594
$
36,748
$
36,875

Loans Receivable (Tables)

Loans Receivable (Tables)9 Months Ended
Sep. 30, 2021
Receivables [Abstract]
Summary of Various Categories of Loans ReceivableThe various categories of loans receivable are summarized as follows:
September 30,
December 31,
2021
2020
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
$
4,005,841
$
4,429,060
Construction/land development
1,742,687
1,562,298
Agricultural
138,881
114,431
Residential real estate loans
Residential 1-4 family
1,273,988
1,536,257
Multifamily residential
274,131
536,538
Total real estate
7,435,528
8,178,584
Consumer
814,732
864,690
Commercial and industrial
1,414,079
1,896,442
Agricultural
68,272
66,869
Other
168,489
214,136
Total loans receivable
9,901,100
11,220,721
Allowance for credit losses
(238,673
)
(245,473
)
Loans receivable, net
$
9,662,427
$
10,975,248

Allowance for Credit Losses, _2

Allowance for Credit Losses, Credit Quality and Other (Tables)9 Months Ended
Sep. 30, 2021
Text Block [Abstract]
Balance of Allowance for Credit LossesThe following tables present the activity in the allowance for credit losses for the three and nine months ended September 30, 2021:
Three Months Ended September 30, 2021
Construction/ Land Development
Other Commercial Real Estate
Residential Real Estate
Commercial & Industrial
Consumer & Other
Total
(In thousands)
Allowance for credit losses:
Beginning balance
$
22,145
$
93,127
$
51,182
$
52,282
$
21,715
$
240,451
Loans charged off

(9
)
(220
)
(1,682
)
(558
)
(2,469
)
Recoveries of loans previously charged off
8
44
388
80
171
691
Net loans recovered (charged off)
8
35
168
(1,602
)
(387
)
(1,778
)
Provision for credit losses
3,830
(4,664
)
(447
)
1,922
(641
)

Balance, September 30
$
25,983
$
88,498
$
50,903
$
52,602
$
20,687
$
238,673
Nine Months Ended September 30, 2021
Construction/ Land Development
Other Commercial Real Estate
Residential Real Estate
Commercial & Industrial
Consumer & Other
Total
(In thousands)
Allowance for credit losses:
Beginning balance
$
32,861
$
88,453
$
53,216
$
46,530
$
24,413
$
245,473
Loans charged off

(646
)
(543
)
(5,892
)
(1,458
)
(8,539
)
Recoveries of loans previously charged off
47
112
554
382
644
1,739
Net loans recovered (charged off)
47
(534
)
11
(5,510
)
(814
)
(6,800
)
Provision for credit losses
(6,925
)
579
(2,324
)
11,582
(2,912
)

Balance, September 30
$
25,983
$
88,498
$
50,903
$
52,602
$
20,687
$
238,673
The following tables present the balances in the allowance for credit losses for the nine-month period ended September 30, 2020 and the year ended December 31, 2020.
Nine Months Ended September 30, 2020 and Year Ended December 31, 2020
Construction/ Land Development
Other Commercial Real Estate
Residential Real Estate
Commercial & Industrial
Consumer & Other
Total
(In thousands)
Allowance for credit losses:
Beginning balance
$
26,433
$
33,529
$
20,135
$
16,615
$
5,410
$
102,122
Impact of adoption ASC 326
(5,296
)
15,912
16,680
11,584
5,108
43,988
Allowance for credit losses on PCD loans




357
357
Loans charged off
(443
)
(3,003
)
(450
)
(6,207
)
(1,343
)
(11,446
)
Recoveries of loans previously charged off
94
614
305
142
626
1,781
Net loans charged off
(349
)
(2,389
)
(145
)
(6,065
)
(717
)
(9,665
)
Provision for credit loss - loans
18,027
50,912
8,550
18,023
6,601
102,113
Provision for credit loss - acquired loans




9,309
9,309
Balance, September 30
38,815
97,964
45,220
40,157
26,068
248,224
Loans charged off
(775
)
(38
)
(35
)
(1,557
)
(635
)
(3,040
)
Recoveries of loans previously charged off
13
33
32
76
135
289
Net loans charged off
(762
)
(5
)
(3
)
(1,481
)
(500
)
(2,751
)
Provision for credit loss - loans
(5,192
)
(9,506
)
7,999
7,854
(1,155
)

Balance, December 31
$
32,861
$
88,453
$
53,216
$
46,530
$
24,413
$
245,473
Amortized Cost Basis of Loans on Nonaccrual Status and Loans Past Due Over 90 Days Still AccruingThe following table presents the amortized cost basis of loans on nonaccrual status and loans past due over 90 days still accruing as of September 30, 2021 and December 31, 2020:
September 30, 2021
Nonaccrual
Nonaccrual with Reserve
Loans Past Due Over 90 Days Still Accruing
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
$
8,819
$
2,244
$
2,413
Construction/land development
1,870


Agricultural
743


Residential real estate loans
Residential 1-4 family
17,495
2,984
855
Multifamily residential
161


Total real estate
29,088
5,228
3,268
Consumer
1,921

2
Commercial and industrial
15,989
4,272
41
Agricultural & other
606


Total
$
47,604
$
9,500
$
3,311
December 31, 2020
Nonaccrual
Nonaccrual with Reserve
Loans Past Due Over 90 Days Still Accruing
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
$
20,947
$
6,794
$
6,088
Construction/land development
1,381
2,089
1,296
Agricultural
879


Residential real estate loans
Residential 1-4 family
19,334
3,000
1,821
Multifamily residential
173


Total real estate
42,714
11,883
9,205
Consumer
3,506

174
Commercial and industrial
17,251

231
Agricultural & other
1,057


Total
$
64,528
$
11,883
$
9,610
Amortized Cost Basis of Collateral-dependent Impaired LoansThe following table presents the amortized cost basis of collateral-dependent impaired loans by class of loans as of September 30, 2021 and December 31, 2020:
September 30, 2021
Commercial
Residential
Real Estate
Real Estate
Other
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
$
249,783
$

$

Construction/land development
5,201


Agricultural
743


Residential real estate loans
Residential 1-4 family

21,393

Multifamily residential

161

Total real estate
255,727
21,554

Consumer


1,936
Commercial and industrial


20,264
Agricultural & other


607
Total
$
255,727
$
21,554
$
22,807
December 31, 2020
Commercial
Residential
Real Estate
Real Estate
Other
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
$
47,429
$

$

Construction/land development
6,012


Agricultural
879


Residential real estate loans
Residential 1-4 family

32,413

Multifamily residential

173

Total real estate
54,320
32,586

Consumer


3,694
Commercial and industrial


21,027
Agricultural & other


1,057
Total
$
54,320
$
32,586
$
25,778
Summary of Aging Analysis for Loans ReceivableThe following is an aging analysis for loans receivable as of September 30, 2021 and December 31, 2020:
September 30, 2021
Loans Past Due 30-59 Days
Loans Past Due 60-89 Days
Loans Past Due 90 Days or More
Total Past Due
Current Loans
Total Loans Receivable
Accruing Loans Past Due 90 Days or More
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
$
2,213
$

$
11,232
$
13,445
$
3,992,396
$
4,005,841
$
2,413
Construction/land development
66
171
1,870
2,107
1,740,580
1,742,687

Agricultural
434
295
743
1,472
137,409
138,881

Residential real estate loans

Residential 1-4 family
2,452
3,072
18,350
23,874
1,250,114
1,273,988
855
Multifamily residential


161
161
273,970
274,131

Total real estate
5,165
3,538
32,356
41,059
7,394,469
7,435,528
3,268
Consumer
401
12
1,923
2,336
812,396
814,732
2
Commercial and industrial
752
592
16,030
17,374
1,396,705
1,414,079
41
Agricultural & other
619
1
606
1,226
235,535
236,761

Total
$
6,937
$
4,143
$
50,915
$
61,995
$
9,839,105
$
9,901,100
$
3,311
December 31, 2020
Loans Past Due 30-59 Days
Loans Past Due 60-89 Days
Loans Past Due 90 Days or More
Total Past Due
Current Loans
Total Loans Receivable
Accruing Loans Past Due 90 Days or More
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
$
3,856
$
68
$
27,035
$
30,959
$
4,398,101
$
4,429,060
$
6,088
Construction/land development
178
44
2,677
$
2,899
1,559,399
1,562,298
1,296
Agricultural
522

879
1,401
113,030
114,431

Residential real estate loans
Residential 1-4 family
4,833
7,787
21,155
33,775
1,502,482
1,536,257
1,821
Multifamily residential
111

173
284
536,254
536,538

Total real estate
9,500
7,899
51,919
69,318
8,109,266
8,178,584
9,205
Consumer
2,899
802
3,680
7,381
857,309
864,690
174
Commercial and industrial
960
515
17,482
18,957
1,877,485
1,896,442
231
Agricultural and other
1,125
3,713
1,057
5,895
275,110
281,005

Total
$
14,484
$
12,929
$
74,138
$
101,551
$
11,119,170
$
11,220,721
$
9,610
Presentation of Classified Loans by Class and Risk RatingBased on the most recent analysis performed, the risk category of loans by class of loans as of September 30, 2021 and December 31, 2020 is as follows:
September 30, 2021
Term Loans Amortized Cost Basis by Origination Year
2021
2020
2019
2018
2017
Prior
Revolving Loans Amortized Cost Basis
Total
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
Risk rating 1
$

$

$

$

$

$

$

$

Risk rating 2






209,027
209,027
Risk rating 3
182,402
280,163
314,000
396,848
247,852
981,970
68,510
2,471,745
Risk rating 4
106,983
35,274
120,584
257,933
112,120
358,937
87
991,918
Risk rating 5

10,825
2,308
20,791
37,848
197,539

269,311
Risk rating 6


15,219
1,803
11,939
34,797

63,758
Risk rating 7








Risk rating 8





82

82
Total non-farm/non-residential
289,385
326,262
452,111
677,375
409,759
1,573,325
277,624
4,005,841
Construction/land development
Risk rating 1
$

$

$

$

$

$

$

$

Risk rating 2





235

235
Risk rating 3
150,620
228,246
100,935
33,933
23,005
42,863
166,151
745,753
Risk rating 4
117,314
215,084
501,761
45,824
40,377
39,461
23,650
983,471
Risk rating 5


416


1,177
1
1,594
Risk rating 6

115
874
8

10,636

11,633
Risk rating 7








Risk rating 8




1


1
Total construction/land development
267,934
443,445
603,986
79,765
63,383
94,372
189,802
1,742,687
Agricultural
Risk rating 1
$

$

$

$

$

$

$

$

Risk rating 2








Risk rating 3
18,093
30,708
8,005
6,673
5,412
21,538
6,616
97,045
Risk rating 4
4,389
2,120
367
1,164
771
30,233
1,388
40,432
Risk rating 5








Risk rating 6

45



1,359

1,404
Risk rating 7








Risk rating 8








Total agricultural
22,482
32,873
8,372
7,837
6,183
53,130
8,004
138,881
Total commercial real estate loans
$
579,801
$
802,580
$
1,064,469
$
764,977
$
479,325
$
1,720,827
$
475,430
$
5,887,409
Residential real estate loans
Residential 1-4 family
Risk rating 1
$

$

$

$

$

$
80
$
90
$
170
Risk rating 2





29

29
Risk rating 3
173,712
153,260
140,787
111,458
89,445
324,888
86,267
1,079,817
Risk rating 4
8,346
4,250
6,071
17,677
23,144
60,710
30,830
151,028
Risk rating 5


3,064
1,506
529
5,114
197
10,410
Risk rating 6
788
2,003
2,406
1,931
1,525
16,914
6,933
32,500
Risk rating 7








Risk rating 8




6
28

34
Total residential 1-4 family
182,846
159,513
152,328
132,572
114,649
407,763
124,317
1,273,988
Multifamily residential
Risk rating 1
$

$

$

$

$

$

$

$

Risk rating 2








Risk rating 3
8,496
10,243
35,143
34,974
9,825
46,473
7,782
152,936
Risk rating 4

11,271
27,202
3,435
3,009
21,128
37,047
103,092
Risk rating 5



7,621
8,170


15,791
Risk rating 6




897
1,415

2,312
Risk rating 7








Risk rating 8








Total multifamily residential
8,496
21,514
62,345
46,030
21,901
69,016
44,829
274,131
Total real estate
$
771,143
$
983,607
$
1,279,142
$
943,579
$
615,875
$
2,197,606
$
644,576
$
7,435,528
September 30, 2021
Term Loans Amortized Cost Basis by Origination Year, Continued
2021
2020
2019
2018
2017
Prior
Revolving Loans Amortized Cost Basis
Total
(In thousands)
Consumer
Risk rating 1
$
2,930
$
2,109
$
1,556
$
1,064
$
259
$
1,777
$
1,753
$
11,448
Risk rating 2


45
647

9

701
Risk rating 3
153,432
189,046
147,510
116,833
72,351
102,108
6,801
788,081
Risk rating 4
2,993
1,107
3,110
1,908
185
2,407
74
11,784
Risk rating 5

116

99
172
134

521
Risk rating 6

46
347
120

1,641
41
2,195
Risk rating 7








Risk rating 8




1
1

2
Total consumer
159,355
192,424
152,568
120,671
72,968
108,077
8,669
814,732
Commercial and industrial
Risk rating 1
$
210,222
$
28,846
$
371
$
157
$
169
$
21,457
$
11,885
$
273,107
Risk rating 2
19
19


87
280
175
580
Risk rating 3
75,240
77,113
95,166
52,322
25,516
55,060
148,891
529,308
Risk rating 4
132,855
35,907
107,294
98,787
35,085
37,893
75,883
523,704
Risk rating 5
6,197
158
2,019
8,387
5,725
3,077
672
26,235
Risk rating 6
1,222
15,430
6,736
25,441
5,570
4,633
330
59,362
Risk rating 7



1,777



1,777
Risk rating 8

2
1


1
2
6
Total commercial and industrial
425,755
157,475
211,587
186,871
72,152
122,401
237,838
1,414,079
Agricultural and other
Risk rating 1
$
11,231
$
203
$
43
$

$

$
112
$
375
$
11,964
Risk rating 2


3,467


908
809
5,184
Risk rating 3
58,313
60,137
5,395
7,572
2,187
50,145
14,162
197,911
Risk rating 4
6,034
376
157
1,542
1,408
1,487
9,441
20,445
Risk rating 5





597

597
Risk rating 6


27
14
33
586

660
Risk rating 7








Risk rating 8








Total agricultural and other
75,578
60,716
9,089
9,128
3,628
53,835
24,787
236,761
Total
$
1,431,831
$
1,394,222
$
1,652,386
$
1,260,249
$
764,623
$
2,481,919
$
915,870
$
9,901,100
December 31, 2020
Term Loans Amortized Cost Basis by Origination Year
2020
2019
2018
2017
2016
Prior
Revolving Loans Amortized Cost Basis
Total
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
Risk rating 1
$

$

$

$

$

$

$

$

Risk rating 2






25
25
Risk rating 3
301,237
340,562
546,670
286,173
289,483
942,449
266,867
2,973,441
Risk rating 4
27,239
139,354
161,461
265,684
197,979
300,055
17,305
1,109,077
Risk rating 5
10,591
16,865
67,089
7,764
108,885
84,609
750
296,553
Risk rating 6

859
2,289
987
4,577
40,600
86
49,398
Risk rating 7





552

552
Risk rating 8





14

14
Total non-farm/non-residential
339,067
497,640
777,509
560,608
600,924
1,368,279
285,033
4,429,060
Construction/land development
Risk rating 1
$

$

$

$

$

$

$

$

Risk rating 2





283

283
Risk rating 3
211,567
181,257
91,323
33,986
25,600
54,245
115,120
713,098
Risk rating 4
129,599
417,737
92,032
46,249
17,161
32,060
76,845
811,683
Risk rating 5


392
21,892

1,227
545
24,056
Risk rating 6

763
98
63
157
12,065

13,146
Risk rating 7








Risk rating 8



1

31

32
Total construction/land development
341,166
599,757
183,845
102,191
42,918
99,911
192,510
1,562,298
Agricultural
Risk rating 1
$

$

$

$

$

$

$

$

Risk rating 2








Risk rating 3
33,428
8,885
9,119
5,397
3,935
25,159
5,538
91,461
Risk rating 4
2,141
535
1,206
681
5,499
10,735
665
21,462
Risk rating 5





116

116
Risk rating 6
47




1,345

1,392
Risk rating 7








Risk rating 8








Total agricultural
35,616
9,420
10,325
6,078
9,434
37,355
6,203
114,431
Total commercial real estate loans
$
715,849
$
1,106,817
$
971,679
$
668,877
$
653,276
$
1,505,545
$
483,746
$
6,105,789
Residential real estate loans
Residential 1-4 family
Risk rating 1
$

$
47
$

$

$
76
$
12
$
120
$
255
Risk rating 2





423
1,540
1,963
Risk rating 3
237,991
184,578
151,478
139,096
119,642
343,381
119,186
1,295,352
Risk rating 4
4,626
12,716
32,594
20,687
16,148
68,328
30,137
185,236
Risk rating 5


1,363
4,700
383
5,344
516
12,306
Risk rating 6
554
5,973
829
2,084
3,222
18,074
10,257
40,993
Risk rating 7








Risk rating 8





8
144
152
Total residential 1-4 family
243,171
203,314
186,264
166,567
139,471
435,570
161,900
1,536,257
Multifamily residential
Risk rating 1
$

$

$

$

$

$

$

$

Risk rating 2








Risk rating 3
19,033
60,175
87,104
11,477
8,092
59,592
6,386
251,859
Risk rating 4
477
6,358
101,364
93,475
1,924
17,672
37,286
258,556
Risk rating 5





24,945

24,945
Risk rating 6



894

284

1,178
Risk rating 7








Risk rating 8








Total multifamily residential
19,510
66,533
188,468
105,846
10,016
102,493
43,672
536,538
Total real estate
$
978,530
$
1,376,664
$
1,346,411
$
941,290
$
802,763
$
2,043,608
$
689,318
$
8,178,584
December 31, 2020
Term Loans Amortized Cost Basis by Origination Year, Continued
2020
2019
2018
2017
2016
Prior
Revolving Loans Amortized Cost Basis
Total
(In thousands)
Consumer
Risk rating 1
$
3,389
$
2,375
$
1,596
$
485
$
828
$
1,428
$
1,957
$
12,058
Risk rating 2

47
931


12
57
1,047
Risk rating 3
229,189
192,054
152,646
97,812
68,585
68,871
20,094
829,251
Risk rating 4
3,699
3,479
2,769
1,411
1,371
1,991
117
14,837
Risk rating 5
144
737
22
198
568
321

1,990
Risk rating 6
12
361
566
3
2,052
2,468
45
5,507
Risk rating 7








Risk rating 8








Total consumer
236,433
199,053
158,530
99,909
73,404
75,091
22,270
864,690
Commercial and industrial
Risk rating 1
$
632,735
$
506
$
271
$
183
$
20,199
$
1,445
$
10,023
$
665,362
Risk rating 2
29
187
2
96
67
623
268
1,272
Risk rating 3
80,586
131,717
62,814
35,651
39,502
52,743
135,590
538,603
Risk rating 4
68,032
144,867
149,445
42,416
15,138
43,065
115,341
578,304
Risk rating 5
3,195
16,341
11,283
346
251
448
10,637
42,501
Risk rating 6
1,261
4,086
30,834
22,992
2,615
5,198
3,405
70,391
Risk rating 7

3





3
Risk rating 8
1

1

4


6
Total commercial and industrial
785,839
297,707
254,650
101,684
77,776
103,522
275,264
1,896,442
Agricultural and other
Risk rating 1
$
59,248
$
51
$
53
$

$
110
$
27
$
1,036
$
60,525
Risk rating 2
16
4,571



2,859
1,159
8,605
Risk rating 3
78,305
7,045
5,050
5,045
18,445
36,925
42,401
193,216
Risk rating 4
1,043
5,041
1,592
1,096
895
1,703
4,600
15,970
Risk rating 5





605

605
Risk rating 6

219
18

223
1,624

2,084
Risk rating 7








Risk rating 8








Total agricultural and other
138,612
16,927
6,713
6,141
19,673
43,743
49,196
281,005
Total
$
2,139,414
$
1,890,351
$
1,766,304
$
1,149,024
$
973,616
$
2,265,964
$
1,036,048
$
11,220,721
The Company considers the performance of the loan portfolio and its impact on the allowance for credit losses. The Company also evaluates credit quality based on the aging status of the loan, which was previously presented and by payment activity. The following tables present the amortized cost of performing and nonperforming loans as of September 30, 2021 and December 31, 2020.
September 30, 2021
Term Loans Amortized Cost Basis by Origination Year
2021
2020
2019
2018
2017
Prior
Revolving Loans Amortized Cost Basis
Total
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
Performing
$
289,385
$
316,115
$
437,231
$
657,174
$
371,874
$
1,406,655
$
277,624
$
3,756,058
Non-performing

10,147
14,880
20,201
37,885
166,670

249,783
Total non-farm/ non-residential
289,385
326,262
452,111
677,375
409,759
1,573,325
277,624
4,005,841
Construction/land development
Performing
$
267,934
$
443,330
$
602,793
$
79,757
$
63,382
$
90,488
$
189,802
$
1,737,486
Non-performing

115
1,193
8
1
3,884

5,201
Total construction/ land development
267,934
443,445
603,986
79,765
63,383
94,372
189,802
1,742,687
Agricultural
Performing
$
22,482
$
32,873
$
8,372
$
7,837
$
6,183
$
52,387
$
8,004
$
138,138
Non-performing





743

743
Total agricultural
22,482
32,873
8,372
7,837
6,183
53,130
8,004
138,881
Total commercial real estate loans
$
579,801
$
802,580
$
1,064,469
$
764,977
$
479,325
$
1,720,827
$
475,430
$
5,887,409
Residential real estate loans
Residential 1-4 family
Performing
$
182,588
$
156,843
$
150,130
$
131,375
$
113,265
$
400,128
$
118,266
$
1,252,595
Non-performing
258
2,670
2,198
1,197
1,384
7,635
6,051
21,393
Total residential 1-4 family
182,846
159,513
152,328
132,572
114,649
407,763
124,317
1,273,988
Multifamily residential
Performing
$
8,496
$
21,514
$
62,345
$
46,030
$
21,901
$
68,855
$
44,829
$
273,970
Non-performing





161

161
Total multifamily residential
8,496
21,514
62,345
46,030
21,901
69,016
44,829
274,131
Total real estate
$
771,143
$
983,607
$
1,279,142
$
943,579
$
615,875
$
2,197,606
$
644,576
$
7,435,528
Consumer
Performing
$
159,355
$
192,386
$
152,253
$
120,554
$
72,967
$
106,619
$
8,662
$
812,796
Non-performing

38
315
117
1
1,458
7
1,936
Total consumer
159,355
192,424
152,568
120,671
72,968
108,077
8,669
814,732
Commercial and industrial
Performing
$
425,755
$
157,273
$
207,163
$
177,113
$
69,338
$
119,460
$
237,713
$
1,393,815
Non-performing

202
4,424
9,758
2,814
2,941
125
20,264
Total commercial and industrial
425,755
157,475
211,587
186,871
72,152
122,401
237,838
1,414,079
Agricultural and other
Performing
$
75,578
$
60,716
$
9,062
$
8,859
$
3,595
$
53,566
$
24,778
$
236,154
Non-performing


27
269
33
269
9
607
Total agricultural and other
75,578
60,716
9,089
9,128
3,628
53,835
24,787
236,761
Total
$
1,431,831
$
1,394,222
$
1,652,386
$
1,260,249
$
764,623
$
2,481,919
$
915,870
$
9,901,100
December 31, 2020
Term Loans Amortized Cost Basis by Origination Year
2020
2019
2018
2017
2016
Prior
Revolving Loans Amortized Cost Basis
Total
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
Performing
$
339,067
$
497,640
$
775,220
$
560,279
$
598,074
$
1,326,404
$
284,947
$
4,381,631
Non-performing


2,289
329
2,850
41,875
86
47,429
Total non-farm/ non-residential
339,067
497,640
777,509
560,608
600,924
1,368,279
285,033
4,429,060
Construction/land development
Performing
$
341,166
$
598,995
$
183,821
$
102,127
$
42,779
$
94,888
$
192,510
$
1,556,286
Non-performing

762
24
64
139
5,023

6,012
Total construction/ land development
341,166
599,757
183,845
102,191
42,918
99,911
192,510
1,562,298
Agricultural
Performing
$
35,616
$
9,420
$
10,325
$
6,078
$
9,434
$
36,476
$
6,203
$
113,552
Non-performing





879

879
Total agricultural
35,616
9,420
10,325
6,078
9,434
37,355
6,203
114,431
Total commercial real estate loans
$
715,849
$
1,106,817
$
971,679
$
668,877
$
653,276
$
1,505,545
$
483,746
$
6,105,789
Residential real estate loans
Residential 1-4 family
Performing
$
242,505
$
196,951
$
185,316
$
161,274
$
137,840
$
425,056
$
154,902
$
1,503,844
Non-performing
666
6,363
948
5,293
1,631
10,514
6,998
32,413
Total residential 1-4 family
243,171
203,314
186,264
166,567
139,471
435,570
161,900
1,536,257
Multifamily residential
Performing
$
19,510
$
66,533
$
188,468
$
105,846
$
10,016
$
102,320
$
43,672
$
536,365
Non-performing





173

173
Total multifamily residential
19,510
66,533
188,468
105,846
10,016
102,493
43,672
536,538
Total real estate
$
978,530
$
1,376,664
$
1,346,411
$
941,290
$
802,763
$
2,043,608
$
689,318
$
8,178,584
Consumer
Performing
$
236,395
$
198,737
$
158,324
$
99,905
$
71,924
$
73,448
$
22,263
$
860,996
Non-performing
38
316
206
4
1,480
1,643
7
3,694
Total consumer
236,433
199,053
158,530
99,909
73,404
75,091
22,270
864,690
Commercial and industrial
Performing
$
785,776
$
293,938
$
246,177
$
98,664
$
76,427
$
100,050
$
274,383
$
1,875,415
Non-performing
63
3,769
8,473
3,020
1,349
3,472
881
21,027
Total commercial and industrial
785,839
297,707
254,650
101,684
77,776
103,522
275,264
1,896,442
Agricultural and other
Performing
$
138,612
$
16,927
$
6,695
$
6,141
$
19,450
$
42,927
$
49,196
$
279,948
Non-performing


18

223
816

1,057
Total agricultural and other
138,612
16,927
6,713
6,141
19,673
43,743
49,196
281,005
Total
$
2,139,414
$
1,890,351
$
1,766,304
$
1,149,024
$
973,616
$
2,265,964
$
1,036,048
$
11,220,721
Presentation of Troubled Debt Restructurings ("TDRs") by ClassThe following is a presentation of troubled debt restructurings (“TDRs”) by class as of September 30, 2021 and December 31, 2020:
September 30, 2021
Number of Loans
Pre- Modification Outstanding Balance
Rate Modification
Term Modification
Rate & Term Modification
Post- Modification Outstanding Balance
(Dollars in thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
12
$
6,119
$
3,666
$
628
$
87
$
4,381
Construction/land development
3
322
216
2

218
Agricultural
1
282
262


262
Residential real estate loans
Residential 1-4 family
18
2,495
953
157
374
1,484
Total real estate
34
9,218
5,097
787
461
6,345
Consumer
4
22
14

3
17
Commercial and industrial
9
2,354
201
87
78
366
Total
47
$
11,594
$
5,312
$
874
$
542
$
6,728
December 31, 2020
Number of Loans
Pre- Modification Outstanding Balance
Rate Modification
Term Modification
Rate & Term Modification
Post- Modification Outstanding Balance
(Dollars in thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
14
$
11,510
$
4,350
$
383
$
4,723
$
9,456
Construction/land development
2
58

7
9
16
Agricultural
1
282
267


267
Residential real estate loans
Residential 1-4 family
21
2,913
1,441
165
431
2,037
Total real estate
38
14,763
6,058
555
5,163
11,776
Consumer
1
17
14


14
Commercial and industrial
12
2,470
308
127
91
526
Total
51
$
17,250
$
6,380
$
682
$
5,254
$
12,316
Presentation of TDR's on Non-Accrual StatusThe following is a presentation of TDRs on non-accrual status as of September 30, 2021 and December 31, 2020 because they are not in compliance with the modified terms:
September 30, 2021
December 31, 2020
Number of Loans
Recorded Balance
Number of Loans
Recorded Balance
(Dollars in thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
2
$
9
2
$
350
Construction/land development
2
216
1
9
Agricultural
1
262
1
267
Residential real estate loans
Residential 1-4 family
6
405
7
547
Total real estate
11
892
11
1,173
Consumer
3
3


Commercial and industrial
6
254
8
414
Total
20
$
1,149
19
$
1,587
Summary of Total Foreclosed AssetsThe following is a presentation of total foreclosed assets as of September 30, 2021 and December 31, 2020:
September 30, 2021
December 31, 2020
(In thousands)
Commercial real estate loans
Non-farm/non-residential
$
261
$
438
Construction/land development
835
3,189
Residential real estate loans
Residential 1-4 family
75
793
Total foreclosed assets held for sale
$
1,171
$
4,420

Goodwill and Core Deposits an_2

Goodwill and Core Deposits and Other Intangibles (Tables)9 Months Ended
Sep. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of Changes in Carrying Amount and Accumulated Amortization of Company's Goodwill and Core Deposits and Other IntangiblesChanges in the carrying amount and accumulated amortization of the Company’s goodwill and core deposits and other intangibles at September 30, 2021 and December 31, 2020, were as follows:
September 30, 2021
December 31, 2020
(In thousands)
Goodwill
Balance, beginning of period
$
973,025
$
958,408
Acquisitions

14,617
Balance, end of period
$
973,025
$
973,025
September 30, 2021
December 31, 2020
(In thousands)
Core Deposit and Other Intangibles
Balance, beginning of period
$
30,728
$
36,572
Amortization expense
(4,262
)
(4,423
)
Balance, September 30
26,466
32,149
Amortization expense
(1,421
)
Balance, end of year
$
30,728
Summary of Carrying Amount and Accumulated Amortization of Core Deposits and Other IntangiblesThe carrying basis and accumulated amortization of core deposits and other intangibles at September 30, 2021 and December 31, 2020 were :
September 30, 2021
December 31, 2020
(In thousands)
Gross carrying basis
$
86,625
$
86,625
Accumulated amortization
(60,159
)
(55,897
)
Net carrying amount
$
26,466
$
30,728

Securities Sold Under Agreeme_2

Securities Sold Under Agreements to Repurchase (Tables)9 Months Ended
Sep. 30, 2021
Brokers And Dealers [Abstract]
Summary of Remaining Contractual Maturity of Securities Sold Under Agreements to RepurchaseThe remaining contractual maturity of securities sold under agreements to repurchase in the consolidated balance sheets as of September 30, 2021 and December 31, 2020 is presented in the following tables:
September 30, 2021
Overnight and Continuous
Up to 30 Days
30-90 Days
Greater than 90 Days
Total
(In thousands)
Securities sold under agreements to repurchase:
U.S. government-sponsored enterprises
$
8,753
$

$

$

$
8,753
Mortgage-backed securities
7,979



7,979
State and political subdivisions
121,412



121,412
Other securities
2,858



2,858
Total borrowings
$
141,002
$

$

$

$
141,002
December 31, 2020
Overnight and Continuous
Up to 30 Days
30-90 Days
Greater than 90 Days
Total
(In thousands)
Securities sold under agreements to repurchase:
U.S. government-sponsored enterprises
$
11,166
$

$

$

$
11,166
Mortgage-backed securities
18,830



18,830
State and political subdivisions
135,308



135,308
Other securities
3,627



3,627
Total borrowings
$
168,931
$

$

$

$
168,931

Subordinated Debentures (Tables

Subordinated Debentures (Tables)9 Months Ended
Sep. 30, 2021
Debt Disclosure [Abstract]
Preferred Trust Securities and Subordinated DebenturesSubordinated debentures at September 30, 2021 and December 31, 2020 consisted of subordinated debt securities and guaranteed payments on trust preferred securities with the following components:
As of September 30,
As of December 31,
2021
2020
(In thousands)
Trust preferred securities
Subordinated debentures, issued in 2006, due 2036, fixed rate of 6.75% during the first five years and at a floating rate of 1.85% three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty
$
3,093
$
3,093
Subordinated debentures, issued in 2004, due 2034, fixed rate of 6.00% during the first five years and at a floating rate of 2.00% three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty
15,464
15,464
Subordinated debentures, issued in 2005, due 2035, fixed rate of 5.84% during the first five years and at a floating rate of 1.45% three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty
25,774
25,774
Subordinated debentures, issued in 2004, due 2034, fixed rate of 4.29% during the first five years and at a floating rate of 2.50% three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty
16,495
16,495
Subordinated debentures, issued in 2005, due 2035, floating rate of 2.15% above the three-month LIBOR rate, reset quarterly, currently callable without penalty
4,489
4,452
Subordinated debentures, issued in 2006, due 2036, fixed rate of 7.38% during the first five years and at a floating rate of 1.62% three-month LIBOR rate, reset quarterly, thereafter, currently callable without penalty
5,919
5,849
Subordinated debt securities
Subordinated notes, net of issuance costs, issued in 2017, due 2027, fixed rate of 5.625% 3.575% thereafter, callable in 2022 without penalty
299,666
299,199
Total
$
370,900
$
370,326

Income Taxes (Tables)

Income Taxes (Tables)9 Months Ended
Sep. 30, 2021
Income Tax Disclosure [Abstract]
Summary of Components of Provision (Benefit) for Income TaxesThe following is a summary of the components of the provision (benefit) for income taxes for the three and nine months ended September 30, 2021 and 2020:
For the Three Months Ended September 30,
For the Nine Months Ended September 30,
2021
2020
2021
2020
(In thousands)
Current:
Federal
$
14,693
$
16,271
$
52,771
$
57,154
State
4,864
5,386
17,470
18,921
Total current
19,557
21,657
70,241
76,075
Deferred:
Federal
2,744
(451
)
5,211
(29,071
)
State
908
(149
)
1,725
(9,624
)
Total deferred
3,652
(600
)
6,936
(38,695
)
Income tax expense
$
23,209
$
21,057
$
77,177
$
37,380
Reconciliation between Statutory Federal Income Tax Rate and Effective Income Tax RateThe reconciliation between the statutory federal income tax rate and effective income tax rate is as follows for the three and nine months ended September 30, 2021 and 2020:
Three Months Ended
Nine Months Ended
September 30,
September 30,
2021
2020
2021
2020
Statutory federal income tax rate
21.00
%
21.00
%
21.00
%
21.00
%
Effect of non-taxable interest income
(1.08
)
(1.03
)
(1.00
)
(1.48
)
Stock compensation
0.16
1.17
0.23
0.53
State income taxes, net of federal benefit
3.50
3.82
4.00
3.00
Executive officer compensation & other
0.05
(1.66
)
(0.32
)
(1.07
)
Effective income tax rate
23.63
%
23.30
%
23.91
%
21.98
%
Differences between Tax Basis of Assets and LiabilitiesThe types of temporary differences between the tax basis of assets and liabilities and their financial reporting amounts that give rise to deferred income tax assets and liabilities, and their approximate tax effects, are as follows:
September 30, 2021
December 31, 2020
(In thousands)
Deferred tax assets:
Allowance for credit losses
$
69,135
$
72,445
Deferred compensation
4,751
4,741
Stock compensation
5,475
4,768
Non-accrual interest income
853
775
Real estate owned
109
620
Loan discounts
4,151
6,806
Tax basis premium/discount on acquisitions
3,693
5,101
Investments
273
502
Deposits
(57
)
(33
)
Other
5,259
5,855
Gross deferred tax assets
93,642
101,580
Deferred tax liabilities:
Accelerated depreciation on premises and equipment
264
1,929
Unrealized gain on securities
9,735
15,072
Core deposit intangibles
6,066
7,056
FHLB dividends
2,807
2,711
Other
5,046
4,563
Gross deferred tax liabilities
23,918
31,331
Net deferred tax assets
$
69,724
$
70,249

Common Stock, Compensation Pl_2

Common Stock, Compensation Plans and Other (Tables)9 Months Ended
Sep. 30, 2021
Equity [Abstract]
Summary of Stock Option Transactions under PlanThe table below summarizes the stock option transactions under the Plan at September 30, 2021 and December 31, 2020 and changes during the nine-month period and year then ended :
For the Nine Months Ended September 30, 2021
For the Year Ended December 31, 2020
Shares (000)
Weighted- Average Exercisable Price
Shares (000)
Weighted- Average Exercisable Price
Outstanding, beginning of year
3,254
$
19.77
3,411
$
19.60
Granted
15
21.68


Forfeited/Expired
(47
)
22.25
(76
)
21.95
Exercised
(181
)
15.27
(81
)
10.61
Outstanding, end of period
3,041
20.01
3,254
19.77
Exercisable, end of period
1,552
$
17.37
1,537
$
16.82
Summary of Stock Options on Valuation AssumptionsThe assumptions used in determining the fair value of the 2021 and 2020 stock option grants were as follows:
For the Nine Months Ended September 30, 2021
For the Year Ended December 31, 2020
Expected dividend yield
2.59
%
Not Applicable
Expected stock price volatility
70.13
%
Not Applicable
Risk-free interest rate
0.75
%
Not Applicable
Expected life of options
6.5 years
Not Applicable
Summary of Currently Outstanding and Exercisable OptionsThe following is a summary of currently outstanding and exercisable options at September 30, 2021:
Options Outstanding
Options Exercisable
Exercise Prices
Options Outstanding Shares (000)
Weighted- Average Remaining Contractual Life (in years)
Weighted- Average Exercise Price
Options Exercisable Shares (000)
Weighted- Average Exercise Price
$6.56 to $8.62
164
1.15
$
8.32
164
$
8.32
$9.54 to $14.71
140
2.80
13.23
140
13.23
$16.77 to $16.86
130
2.89
16.80
130
16.80
$17.12 to $17.36
102
3.47
17.14
102
17.14
$17.40 to $18.46
871
3.88
18.45
738
18.45
$18.50 to $20.16
41
7.53
19.05
14
19.04
$20.58 to $21.25
158
4.51
21.08
143
21.12
$21.31 to $22.22
112
6.85
22.18
60
22.22
$22.70 to $23.32
1,242
6.81
23.32
1
22.70
$23.51 to $25.96
81
5.72
25.63
60
25.81
3,041
1,552
Summary of Company's Restricted Stock Issued and OutstandingThe table below summarized the activity for the Company’s restricted stock issued and outstanding at September 30, 2021 and December 31, 2020 and changes during the period and year then ended:
As of September 30, 2021
As of December 31, 2020
(In thousands)
Beginning of year
1,371
1,636
Issued
215
264
Vested
(238
)
(453
)
Forfeited
(26
)
(76
)
End of period
1,322
1,371
Amount of expense for nine months and twelve months ended, respectively
$
5,307
$
6,824

Non-Interest Expense (Tables)

Non-Interest Expense (Tables)9 Months Ended
Sep. 30, 2021
Other Income And Expenses [Abstract]
Components of Non-Interest ExpenseThe table below shows the components of non-interest expense for the three and nine months ended September 30, 2021 and 2020:
Three Months Ended
Nine Months Ended
September 30,
September 30,
2021
2020
2021
2020
(In thousands)
Salaries and employee benefits
$
42,469
$
41,511
$
126,990
$
120,928
Occupancy and equipment
9,305
9,566
27,584
28,611
Data processing expense
6,024
4,921
17,787
13,861
Merger and acquisition expenses
1,006

1,006
711
Other operating expenses:
Advertising
1,204
902
3,444
2,923
Amortization of intangibles
1,421
1,420
4,262
4,423
Electronic banking expense
2,521
2,426
7,375
6,195
Directors’ fees
395
429
1,192
1,265
Due from bank service charges
265
259
787
721
FDIC and state assessment
1,648
1,607
4,119
5,001
Insurance
749
766
2,317
2,223
Legal and accounting
1,050
1,235
2,954
3,432
Other professional fees
1,787
1,661
5,196
6,622
Operating supplies
474
460
1,426
1,548
Postage
301
328
931
968
Telephone
371
321
1,082
955
Other expense
4,629
3,900
13,015
12,757
Total other operating expenses
16,815
15,714
48,100
49,033
Total non-interest expense
$
75,619
$
71,712
$
221,467
$
213,144

Leases (Tables)

Leases (Tables)9 Months Ended
Sep. 30, 2021
Leases [Abstract]
Minimum Rental Commitments under Operating LeasesThe minimum rental commitments under these noncancelable operating leases are as follows (in thousands) as of September 30, 2021 and December 31, 2020:
September 30, 2021
December 31, 2020
2021
$
2,910
$
8,235
2022
7,366
6,486
2023
6,535
5,714
2024
5,972
5,262
2025
5,510
4,818
Thereafter
30,388
27,453
Total future minimum lease payments
$
58,681
$
57,968
Discount effect of cash flows
(15,017
)
(14,922
)
Present value of net future minimum lease payments
$
43,664
$
43,046
Additional Information of Lease ExpenseAdditional information (dollar amounts in thousands):
For the Three Months Ended
For the Nine Months Ended
Lease expense:
September 30, 2021
September 30, 2020
September 30, 2021
September 30, 2020
Operating lease expense
$
1,971
$
2,044
$
5,961
$
6,085
Short-term lease expense
1
9
5
41
Variable lease expense
250
253
759
772
Total lease expense
$
2,222
$
2,306
$
6,725
$
6,898
Other information:
Cash paid for amounts included in the measurement of lease liabilities
$
1,988
$
2,021
$
5,956
$
6,013
Weighted-average remaining lease term (in years)
9.67
10.08
9.78
10.21
Weighted-average discount rate
3.42
%
3.60
%
3.49
%
3.61
%

Additional Cash Flow Informat_2

Additional Cash Flow Information (Tables)9 Months Ended
Sep. 30, 2021
Supplemental Cash Flow Elements [Abstract]
Summary of Additional Cash Flow InformationThe following is a summary of the Company’s additional cash flow information during the nine-month periods ended:
September 30,
2021
2020
(In thousands)
Interest paid
$
36,757
$
72,909
Income taxes paid
82,245
54,698
Assets acquired by foreclosure
2,058
1,673

Financial Instruments (Tables)

Financial Instruments (Tables)9 Months Ended
Sep. 30, 2021
Fair Value Disclosures [Abstract]
Estimated Fair Values of Financial InstrumentsThe following table presents the estimated fair values of the Company’s financial instruments. Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date .
September 30, 2021
Carrying
Amount
Fair Value
Level
(In thousands)
Financial assets:
Cash and cash equivalents
$
3,280,256
$
3,280,256
1
Loans receivable, net of impaired loans and allowance
9,409,596
9,687,138
3
Accrued interest receivable
48,577
48,577
1
FHLB, Federal Reserve & First National Bankers Bank stock; other equity investments
122,824
122,824
3
Financial liabilities:
Deposits:
Demand and non-interest bearing
$
4,139,149
$
4,139,149
1
Savings and interest-bearing transaction accounts
8,813,326
8,813,326
1
Time deposits
1,050,896
1,089,205
3
Securities sold under agreements to repurchase
141,002
141,002
1
FHLB and other borrowed funds
400,000
403,489
2
Accrued interest payable
9,409
9,409
1
Subordinated debentures
370,900
377,839
3
December 31, 2020
Carrying
Amount
Fair Value
Level
(In thousands)
Financial assets:
Cash and cash equivalents
$
1,263,788
$
1,263,788
1
Loans receivable, net of impaired loans and allowance
10,873,120
11,292,004
3
Accrued interest receivable
60,528
60,528
1
FHLB, Federal Reserve & First National Bankers Bank stock; other equity investments
114,854
114,854
3
Financial liabilities:
Deposits:
Demand and non-interest bearing
$
3,266,753
$
3,266,753
1
Savings and interest-bearing transaction accounts
8,212,240
8,212,240
1
Time deposits
1,246,797
1,266,430
3
Securities sold under agreements to repurchase
168,931
168,931
1
FHLB and other borrowed funds
400,000
414,207
2
Accrued interest payable
5,925
5,925
1
Subordinated debentures
370,326
378,981
3

Nature of Operations and Summ_4

Nature of Operations and Summary of Significant Accounting Policies - Additional Information (Detail) $ / shares in Units, shares in Millions3 Months Ended9 Months Ended12 Months Ended
Sep. 30, 2021USD ($)Jun. 30, 2021USD ($)Mar. 31, 2021USD ($)Dec. 31, 2020USD ($)Sep. 30, 2020USD ($)Jun. 30, 2020USD ($)Mar. 31, 2020USD ($)Sep. 30, 2021USD ($)SegmentSep. 30, 2020USD ($)$ / sharessharesDec. 31, 2020USD ($)Dec. 31, 2019USD ($)Jan. 01, 2020USD ($)
Accounting Policy [Line Items]
Number of reportable operating segment | Segment1
Allowance for loan losses $ 238,673,000 $ 240,451,000 $ 245,473,000 $ 248,224,000 $ 238,673,000 $ 248,224,000 $ 245,473,000 $ 102,122,000
Adjustment to retained earnings, net of tax1,215,831,000 1,039,370,000 1,215,831,000 1,039,370,000
Remaining purchased loans reclassified into purchase credit impaired loans107,600,000 107,600,000
Accretable yield reclassified out of purchased credit impaired loans $ 29,300,000 29,300,000
Provision for credit loss - investment securities $ 842,000
Antidilutive securities excluded from computation of earnings per share, amount | shares3.3
Antidilutive securities excluded from computation of earnings per share weighted average exercise price | $ / shares $ 19.56
Accounting Standards Update 2016-13 [Member]
Accounting Policy [Line Items]
Allowance for loan losses $ 146,100,000
Adjustment to retained earnings, net of tax32,500,000
Reserve for unfunded commitments recognized15,500,000
Provision for credit loss - investment securities $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 842,000
Accounting Standards Update 2016-13 [Member] | Unfunded Commitments [Member]
Accounting Policy [Line Items]
Adjustment to retained earnings, net of tax11,500,000
Reserve for unfunded commitments recognized15,500,000
Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member]
Accounting Policy [Line Items]
Allowance for loan losses $ 43,988,000 $ 43,988,000

Nature of Operations and Summ_5

Nature of Operations and Summary of Significant Accounting Policies - Summary of Impact of Adoption of ASC 326 in Consolidated Balance Sheet (Detail) - USD ($) $ in ThousandsSep. 30, 2021Jun. 30, 2021Dec. 31, 2020Sep. 30, 2020Jan. 01, 2020Dec. 31, 2019
Assets
Allowance for loan losses $ 238,673 $ 240,451 $ 245,473 $ 248,224 $ 102,122
Accounting Standards Update 2016-13 [Member]
Assets
Allowance for loan losses $ 146,100
Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjusted Balance [Member]
Assets
Allowance for loan losses146,110
Accounting Standards Update 2016-13 [Member] | Pre-ASC 326 Adoption [Member]
Assets
Allowance for loan losses102,122
Accounting Standards Update 2016-13 [Member] | Impact of ASC 326 Adoption [Member]
Assets
Allowance for loan losses43,988 $ 43,988
Accounting Standards Update 2016-13 [Member] | Other Liabilities [Member] | Cumulative Effect Period of Adoption Adjusted Balance [Member]
Liabilities:
Allowance for credit losses on OBS credit exposures (included in other liabilities)15,521
Accounting Standards Update 2016-13 [Member] | Other Liabilities [Member] | Impact of ASC 326 Adoption [Member]
Liabilities:
Allowance for credit losses on OBS credit exposures (included in other liabilities) $ 15,521

Nature of Operations and Summ_6

Nature of Operations and Summary of Significant Accounting Policies - Computation of Basic and Diluted Earnings per Common Share (EPS) (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2021Jun. 30, 2021Mar. 31, 2021Sep. 30, 2020Jun. 30, 2020Mar. 31, 2020Sep. 30, 2021Sep. 30, 2020
Earnings Per Share [Abstract]
Net income $ 74,992 $ 79,070 $ 91,602 $ 69,320 $ 62,827 $ 507 $ 245,664 $ 132,654
Average shares outstanding164,126 165,200 164,717 165,458
Effect of common stock options477 333
Average diluted shares outstanding164,603 165,200 165,050 165,458
Basic earnings per share $ 0.46 $ 0.42 $ 1.49 $ 0.80
Diluted earnings per share $ 0.46 $ 0.42 $ 1.49 $ 0.80

Business Combinations - Acquisi

Business Combinations - Acquisition of LH-Finance - Additional Information (Detail) - USD ($) $ in ThousandsFeb. 29, 2020Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill $ 14,617
LH-Finance [Member]
Business Acquisition [Line Items]
Business acquisition dateFeb. 29,
2020
Business combination consideration paid $ 421,200
Business combination, recognized identifiable assets acquired, Total Assets409,100
Business combination, recognized identifiable liabilities assumed, Loans407,400
Goodwill $ 14,600

Business Combinations - Future

Business Combinations - Future Acquisition of Happy Bancshares, Inc - Additional Information (Detail) - Happy Bancshares, Inc. [Member] - Subsequent Event [Member] shares in MillionsOct. 18, 2021USD ($)shares
Business Acquisition [Line Items]
Business combination consideration paid $ 1,020,000
Business acquisition, threshold consecutive trading days period of volume-weighted average closing price per share20 days
Business acquisition, cash consideration $ 0
Business acquisition, expected aggregate cash payable in cancellation of certain stock appreciation rights $ 11,000,000
Business acquisition, common stock conversion ratio2.17
Business acquisition, merger consideration, descriptionSubject to the terms and conditions set forth in the Agreement, as amended, at the effective time of the Merger (the “Effective Time”), each outstanding share of common stock of Happy will be converted into the right to receive, without interest, 2.17 shares of the Company’s common stock (the “Merger Consideration”). Each unvested restricted share of Happy common stock outstanding at the Effective Time will fully vest and be converted into the right to receive the Merger Consideration. In addition, at the Effective Time, each outstanding option to purchase Happy common stock will be cancelled and converted into the right to receive the number of whole shares of the Company’s common stock, together with any cash in lieu of fractional shares, equal to the product of (i) the number of shares of Happy common stock subject to the option, multiplied by (ii) the excess, if any, of the Merger Consideration value over the exercise price of the option, less applicable tax withholdings, divided by (iii) the Company’s Average Closing Price (defined below). Similarly, each stock appreciation right of Happy outstanding at the Effective Time will be cancelled and converted into the right to receive a cash payment, without interest, equal to the product of (i) the number of shares of Happy common stock subject to the stock appreciation right, multiplied by (ii) the excess, if any, of the Merger Consideration value over the grant price of the stock appreciation right, less applicable tax withholdings. For purposes of these calculations, the Merger Consideration value will be determined using a volume-weighted average closing price of the Company’s common stock as reported on Nasdaq over the 20 consecutive trading day period ending on the third business day prior to the closing of the Merger (“the Company’s Average Closing Price”), multiplied by 2.17.
Common Stock [Member]
Business Acquisition [Line Items]
Business acquisition, equity interest issuable, number of shares | shares42.3

Investment Securities - Amortiz

Investment Securities - Amortized Cost and Fair Value of Securities Available-for-Sale (Detail) - USD ($) $ in ThousandsSep. 30, 2021Dec. 31, 2020
Schedule of Available-for-sale Securities [Line Items]
Total, Amortized Cost $ 3,116,246 $ 2,414,891
Gross Unrealized Gains48,663 62,600
Gross Unrealized (Losses)(14,301)(3,710)
Estimated Fair Value3,150,608 2,473,781
U.S. Government-Sponsored Enterprises [Member]
Schedule of Available-for-sale Securities [Line Items]
Total, Amortized Cost439,181 325,860
Gross Unrealized Gains2,702 2,338
Gross Unrealized (Losses)(1,720)(1,207)
Estimated Fair Value440,163 326,991
Residential Mortgage-Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Total, Amortized Cost1,198,016 703,138
Gross Unrealized Gains6,812 10,607
Gross Unrealized (Losses)(9,064)(688)
Estimated Fair Value1,195,764 713,057
Commercial Mortgage-Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Total, Amortized Cost403,840 446,964
Gross Unrealized Gains10,656 18,048
Gross Unrealized (Losses)(922)(126)
Estimated Fair Value413,574 464,886
State and Political Subdivisions [Member]
Schedule of Available-for-sale Securities [Line Items]
Total, Amortized Cost965,993 898,174
Gross Unrealized Gains27,356 31,173
Gross Unrealized (Losses)(2,205)(1,454)
Estimated Fair Value991,144 927,893
Other Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Total, Amortized Cost109,216 40,755
Gross Unrealized Gains1,137 434
Gross Unrealized (Losses)(390)(235)
Estimated Fair Value $ 109,963 $ 40,954

Investment Securities - Additio

Investment Securities - Additional Information (Detail)3 Months Ended9 Months Ended
Sep. 30, 2021USD ($)SecuritySep. 30, 2020USD ($)Sep. 30, 2021USD ($)SecuritySep. 30, 2020USD ($)Dec. 31, 2020USD ($)
Carrying value of investment securities $ 1,170,000,000 $ 1,170,000,000 $ 1,080,000,000
Investment securities pledged as collateral141,000,000 141,000,000 168,900,000
Available for sale securities sold0 $ 0 17,900,000 $ 0
Realized gains (losses) on available for sale securities0 $ 0 219,000 $ 0
Investment securities, provision for credit losses842,000 842,000 842,000
Fair value of unrealized losses $ 2,844,000 $ 2,844,000 1,004,000
Percentage of Company's investment portfolio58.60%
Maturity description of investment portfoliofive years or less
Number of investment securities available for sale | Security1,335 1,335
Number of investment in debt securities unrealized loss position | Security304 304
Debt securities available for sale unrealized loss position $ 14,301,000 $ 14,301,000 3,710,000
U.S. Government-Sponsored Enterprises [Member]
Fair value of unrealized losses $ 705,000 $ 705,000 824,000
Number of investment in debt securities unrealized loss position | Security44 44
Debt securities available for sale unrealized loss position $ 1,720,000 $ 1,720,000 1,207,000
Residential Mortgage-Backed Securities [Member]
Fair value of unrealized losses $ 848,000 $ 848,000 45,000
Number of investment in debt securities unrealized loss position | Security161 161
Debt securities available for sale unrealized loss position $ 9,064,000 $ 9,064,000 688,000
Commercial Mortgage-Backed Securities [Member]
Fair value of unrealized losses $ 16,000 $ 16,000
Number of investment in debt securities unrealized loss position | Security35 35
Debt securities available for sale unrealized loss position $ 922,000 $ 922,000 126,000
State and Political Subdivisions [Member]
Fair value of unrealized losses $ 1,225,000 $ 1,225,000
Number of investment in debt securities unrealized loss position | Security51 51
Debt securities available for sale unrealized loss position $ 2,205,000 $ 2,205,000 1,454,000
Other Securities [Member]
Fair value of unrealized losses $ 50,000 $ 50,000 135,000
Number of investment in debt securities unrealized loss position | Security13 13
Debt securities available for sale unrealized loss position $ 390,000 $ 390,000 $ 235,000

Investment Securities - Amort_2

Investment Securities - Amortized Cost and Estimated Fair Value of Securities Contractual Maturity (Detail) - USD ($) $ in ThousandsSep. 30, 2021Dec. 31, 2020
Available-for-Sale Securities, Amortized Cost
Due in one year or less, Amortized Cost $ 9,391
Due after one year through five years, Amortized Cost78,839
Due after five years through ten years, Amortized Cost348,801
Due after ten years, Amortized Cost1,075,359
Total, Amortized Cost3,116,246 $ 2,414,891
Available-for-Sale Securities, Estimated Fair Value
Due in one year or less, Estimated Fair Value9,399
Due after one year through five years, Estimated Fair Value79,824
Due after five years through ten years, Estimated Fair Value350,567
Due after ten years, Estimated Fair Value1,099,480
Total, Estimated Fair Value3,150,608 2,473,781
Residential Mortgage-Backed Securities [Member]
Available-for-Sale Securities, Amortized Cost
Securities not due at a single maturity date, Amortized Cost1,198,016
Total, Amortized Cost1,198,016 703,138
Available-for-Sale Securities, Estimated Fair Value
Securities not due at a single maturity date, Estimated Fair Value1,195,764
Total, Estimated Fair Value1,195,764 713,057
Commercial Mortgage-Backed Securities [Member]
Available-for-Sale Securities, Amortized Cost
Securities not due at a single maturity date, Amortized Cost403,840
Total, Amortized Cost403,840 446,964
Available-for-Sale Securities, Estimated Fair Value
Securities not due at a single maturity date, Estimated Fair Value413,574
Total, Estimated Fair Value413,574 464,886
Other [Member]
Available-for-Sale Securities, Amortized Cost
Securities not due at a single maturity date, Amortized Cost2,000
Total, Amortized Cost109,216 40,755
Available-for-Sale Securities, Estimated Fair Value
Securities not due at a single maturity date, Estimated Fair Value2,000
Total, Estimated Fair Value $ 109,963 $ 40,954

Investment Securities - Unreali

Investment Securities - Unrealized Losses and Estimated Fair Value of Investment Securities Available for Sale (Detail) - USD ($)Sep. 30, 2021Dec. 31, 2020
Schedule of Available-for-sale Securities [Line Items]
Fair Value of Available-for-Sale Securities, Less Than 12 Months $ 1,115,883,000 $ 308,738,000
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months(11,457,000)(2,706,000)
Fair Value of Available-for-Sale Securities, 12 Months or More114,864,000 108,897,000
Unrealized Losses of Available-for-Sale Securities, 12 Months or More(2,844,000)(1,004,000)
Fair Value of Available-for-Sale Securities, Total1,230,747,000 417,635,000
Unrealized Losses of Available-for-Sale Securities, Total(14,301,000)(3,710,000)
U.S. Government-Sponsored Enterprises [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value of Available-for-Sale Securities, Less Than 12 Months80,986,000 54,611,000
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months(1,015,000)(383,000)
Fair Value of Available-for-Sale Securities, 12 Months or More56,150,000 95,249,000
Unrealized Losses of Available-for-Sale Securities, 12 Months or More(705,000)(824,000)
Fair Value of Available-for-Sale Securities, Total137,136,000 149,860,000
Unrealized Losses of Available-for-Sale Securities, Total(1,720,000)(1,207,000)
Residential Mortgage-Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value of Available-for-Sale Securities, Less Than 12 Months762,805,000 143,458,000
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months(8,216,000)(643,000)
Fair Value of Available-for-Sale Securities, 12 Months or More31,319,000 4,900,000
Unrealized Losses of Available-for-Sale Securities, 12 Months or More(848,000)(45,000)
Fair Value of Available-for-Sale Securities, Total794,124,000 148,358,000
Unrealized Losses of Available-for-Sale Securities, Total(9,064,000)(688,000)
Commercial Mortgage-Backed Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value of Available-for-Sale Securities, Less Than 12 Months81,615,000 26,886,000
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months(906,000)(126,000)
Fair Value of Available-for-Sale Securities, 12 Months or More6,245,000
Unrealized Losses of Available-for-Sale Securities, 12 Months or More(16,000)
Fair Value of Available-for-Sale Securities, Total87,860,000 26,886,000
Unrealized Losses of Available-for-Sale Securities, Total(922,000)(126,000)
State and Political Subdivisions [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value of Available-for-Sale Securities, Less Than 12 Months149,056,000 78,349,000
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months(980,000)(1,454,000)
Fair Value of Available-for-Sale Securities, 12 Months or More16,887,000
Unrealized Losses of Available-for-Sale Securities, 12 Months or More(1,225,000)
Fair Value of Available-for-Sale Securities, Total165,943,000 78,349,000
Unrealized Losses of Available-for-Sale Securities, Total(2,205,000)(1,454,000)
Other Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value of Available-for-Sale Securities, Less Than 12 Months41,421,000 5,434,000
Unrealized Losses of Available-for-Sale Securities, Less Than 12 Months(340,000)(100,000)
Fair Value of Available-for-Sale Securities, 12 Months or More4,263,000 8,748,000
Unrealized Losses of Available-for-Sale Securities, 12 Months or More(50,000)(135,000)
Fair Value of Available-for-Sale Securities, Total45,684,000 14,182,000
Unrealized Losses of Available-for-Sale Securities, Total $ (390,000) $ (235,000)

Investment Securities - Schedul

Investment Securities - Schedule of Allowance for Credit Losses on Investment Securities (Detail) - USD ($)3 Months Ended12 Months Ended
Sep. 30, 2021Dec. 31, 2020
Allowance for credit losses:
Beginning balance
Provision for credit loss - investment securities $ 842,000
Ending balance $ 842,000 $ 842,000

Investment Securities - Sched_2

Investment Securities - Schedule of Income Earned on Available-for Sale Securities (Detail) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2021Sep. 30, 2020Sep. 30, 2021Sep. 30, 2020
Investment Income [Line Items]
Income earned on securities, taxable $ 8,495 $ 7,227 $ 21,933 $ 25,696
Income earned on securities, non-taxable4,839 4,367 14,815 11,179
Available-for-sale [Member]
Investment Income [Line Items]
Income earned on securities, taxable8,495 7,227 21,933 25,696
Income earned on securities, non-taxable4,839 4,367 14,815 11,179
Income earned on securities, total $ 13,334 $ 11,594 $ 36,748 $ 36,875

Loans Receivable - Summary of V

Loans Receivable - Summary of Various Categories of Loans Receivable (Detail) - USD ($) $ in ThousandsSep. 30, 2021Jun. 30, 2021Dec. 31, 2020Sep. 30, 2020Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable $ 9,901,100 $ 11,220,721
Allowance for credit losses(238,673) $ (240,451)(245,473) $ (248,224) $ (102,122)
Loans receivable, net9,662,427 10,975,248
Construction/Land Development Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses(25,983)(22,145)(32,861)(38,815)(26,433)
Commercial Real Estate Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable5,887,409 6,105,789
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable4,005,841 4,429,060
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable1,742,687 1,562,298
Commercial Real Estate Loans [Member] | Agricultural [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable138,881 114,431
Residential Real Estate Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable274,131 536,538
Allowance for credit losses(50,903)(51,182)(53,216)(45,220)(20,135)
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable1,273,988 1,536,257
Residential Real Estate Loans [Member] | Multifamily Residential [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable274,131 536,538
Total Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable7,435,528 8,178,584
Consumer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable814,732 864,690
Commercial and Industrial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable1,414,079 1,896,442
Allowance for credit losses(52,602) $ (52,282)(46,530) $ (40,157) $ (16,615)
Agricultural [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable68,272 66,869
Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable $ 168,489 $ 214,136

Loans Receivable - Additional I

Loans Receivable - Additional Information (Detail) - USD ($)3 Months Ended9 Months Ended12 Months Ended
Sep. 30, 2021Sep. 30, 2020Sep. 30, 2021Sep. 30, 2020Dec. 31, 2019Jun. 30, 2021Dec. 31, 2020Jan. 01, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Remaining purchased loans reclassified into purchase credit impaired loans $ 107,600,000 $ 107,600,000
Accretable yield reclassified out of purchased credit impaired loans29,300,000 29,300,000
Allowance for loan losses $ 238,673,000 $ 248,224,000 238,673,000 $ 248,224,000 102,122,000 $ 240,451,000 $ 245,473,000
Accounting Standards Update 2016-13 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses $ 146,100,000
Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses43,988,000 $ 43,988,000
Deteriorated Credit Quality [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Purchased loans $ 0
Allowance for loan losses454,000 454,000 760,000
Deteriorated Credit Quality [Member] | LH-Finance [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses454,000 454,000 760,000
Mortgage Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans held for sale81,900,000 81,900,000 $ 114,800,000
SBA Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans sold during period3,900,000 $ 0 15,000,000 3,700,000
Gain on sale of guaranteed portion of loans $ 440,000 $ 1,600,000 $ 341,000

Allowance for Credit Losses, _3

Allowance for Credit Losses, Credit Quality and Other - Additional Information (Detail)3 Months Ended9 Months Ended
Sep. 30, 2021USD ($)Sep. 30, 2020USD ($)Mar. 31, 2020USD ($)Sep. 30, 2021USD ($)RatingLoanSep. 30, 2020USD ($)LoanJun. 30, 2021USD ($)Dec. 31, 2020USD ($)Jan. 01, 2020USD ($)Dec. 31, 2019USD ($)
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for loan losses $ 238,673,000 $ 248,224,000 $ 238,673,000 $ 248,224,000 $ 240,451,000 $ 245,473,000 $ 102,122,000
Retained earnings net of tax1,215,831,000 1,215,831,000 1,039,370,000
Provision for unfunded commitments(4,752,000)16,989,000
Allowance for credit losses on PCD loans357,000 357,000
Non-accrual loans47,604,000 47,604,000 64,528,000
Loans past due 90 days or more and still accruing3,311,000 3,311,000 9,610,000
Nonaccrual loans with specific reserve9,500,000 9,500,000 11,900,000
Interest income on nonaccrual loans0 0
Collateral-dependent impaired loans $ 300,100,000 $ 300,100,000 112,700,000
Percentage of discount of par for impaired loans15.00%15.00%
Interest recognized on impaired loans $ 3,300,000 694,000 $ 9,800,000 2,100,000
Risk rating scale of loanLoans are rated on a scale from 1 to 8.
Amount of loan assessed for impairment on a quarterly basis $ 2,000,000
Over $2,000,000 assessed minimum rated | Rating5
Over $2,000,000 assessed maximum rated | Rating8
Revolver loans converted to term loans $ 27,800,000 $ 92,400,000
Number of revolving loans convert to term loans | Loan201 289
Purchase price of loans at acquisition $ 1,300,000
Non-credit premium at acquisition17,000
Par value of acquired loans at acquisition1,000,000
Deteriorated Credit Quality [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for loan losses454,000 $ 454,000 760,000
LH-Finance [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Acquisition of loans $ 406,200,000
Loan discount6,600,000
Increase in allowance for credit losses for acquisition9,300,000
Allowance for credit losses on PCD loans $ 357,000
Construction / Land Development and Other Commercial Real Estate Loans [Member] | Minimum [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Loans collateralized by first liens on real estate amortized period15 years
Loans collateralized by first liens on real estate balloon payments due period1 year
Construction / Land Development and Other Commercial Real Estate Loans [Member] | Maximum [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Loans collateralized by first liens on real estate amortized period30 years
Loans collateralized by first liens on real estate balloon payments due period5 years
Percentage of loan value of improved property85.00%
Percentage of loan value of raw land65.00%
Percentage of loan value of land to be acquired and developed75.00%
Residential Real Estate Loans [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for loan losses50,903,000 45,220,000 $ 50,903,000 $ 45,220,000 51,182,000 53,216,000 20,135,000
Residential Real Estate Loans [Member] | Maximum [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Loan-to-value ratio90.00%
Commercial and Industrial Loans [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for loan losses52,602,000 $ 40,157,000 $ 52,602,000 $ 40,157,000 $ 52,282,000 46,530,000 16,615,000
Non-accrual loans15,989,000 15,989,000 17,251,000
Loans past due 90 days or more and still accruing $ 41,000 $ 41,000 231,000
Commercial and Industrial Loans [Member] | Minimum [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Commercial loans terms1 year
Inventory financing percentage50.00%50.00%
Commercial and Industrial Loans [Member] | Minimum [Member] | Accounts Receivable Less than 60 Days Past Due [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Accounts receivable financed percentage50.00%50.00%
Commercial and Industrial Loans [Member] | Maximum [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Commercial loans terms7 years
Inventory financing percentage80.00%80.00%
Commercial and Industrial Loans [Member] | Maximum [Member] | Accounts Receivable Less than 60 Days Past Due [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Accounts receivable financed percentage80.00%80.00%
Accounting Standards Update 2016-13 [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for loan losses $ 146,100,000
Retained earnings net of tax32,500,000
Reserve for unfunded commitments recognized15,500,000
Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for loan losses43,988,000 43,988,000
Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member] | LH-Finance [Member] | Deteriorated Credit Quality [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for loan losses $ 454,000 $ 454,000 $ 760,000
Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member] | Residential Real Estate Loans [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for loan losses16,680,000
Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member] | Commercial and Industrial Loans [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Allowance for loan losses $ 11,584,000
Accounting Standards Update 2016-13 [Member] | Unfunded Commitments [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Retained earnings net of tax11,500,000
Reserve for unfunded commitments recognized $ 15,500,000

Allowance for Credit Losses, _4

Allowance for Credit Losses, Credit Quality and Other - Schedule of Allowance for Credit Losses (Detail) - USD ($)3 Months Ended9 Months Ended
Sep. 30, 2021Dec. 31, 2020Sep. 30, 2020Sep. 30, 2021Sep. 30, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance $ 240,451,000 $ 248,224,000 $ 245,473,000 $ 102,122,000
Allowance for credit losses on PCD loans357,000 357,000
Loans charged off(2,469,000)(3,040,000)(8,539,000)(11,446,000)
Recoveries of loans previously charged off691,000 289,000 1,739,000 1,781,000
Net loans recovered (charged off)(1,778,000)(2,751,000)(6,800,000)(9,665,000)
Provision for credit losses $ 14,000,000 (4,752,000)129,253,000
Provision for credit loss - loans102,113,000
Provision for credit loss - acquired loans9,309,000
Ending balance238,673,000 245,473,000 248,224,000 238,673,000 248,224,000
Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance43,988,000
Residential Real Estate Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance51,182,000 45,220,000 53,216,000 20,135,000
Loans charged off(220,000)(35,000)(543,000)(450,000)
Recoveries of loans previously charged off388,000 32,000 554,000 305,000
Net loans recovered (charged off)168,000 (3,000)11,000 (145,000)
Provision for credit losses(447,000)(2,324,000)
Provision for credit loss - loans7,999,000 8,550,000
Ending balance50,903,000 53,216,000 45,220,000 50,903,000 45,220,000
Residential Real Estate Loans [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance16,680,000
Commercial and Industrial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance52,282,000 40,157,000 46,530,000 16,615,000
Loans charged off(1,682,000)(1,557,000)(5,892,000)(6,207,000)
Recoveries of loans previously charged off80,000 76,000 382,000 142,000
Net loans recovered (charged off)(1,602,000)(1,481,000)(5,510,000)(6,065,000)
Provision for credit losses1,922,000 11,582,000
Provision for credit loss - loans7,854,000 18,023,000
Ending balance52,602,000 46,530,000 40,157,000 52,602,000 40,157,000
Commercial and Industrial [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance11,584,000
Construction/Land Development Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance22,145,000 38,815,000 32,861,000 26,433,000
Loans charged off(775,000)(443,000)
Recoveries of loans previously charged off8,000 13,000 47,000 94,000
Net loans recovered (charged off)8,000 (762,000)47,000 (349,000)
Provision for credit losses3,830,000 (6,925,000)
Provision for credit loss - loans(5,192,000)18,027,000
Ending balance25,983,000 32,861,000 38,815,000 25,983,000 38,815,000
Construction/Land Development Loan [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance(5,296,000)
Other Commercial Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance93,127,000 97,964,000 88,453,000 33,529,000
Loans charged off(9,000)(38,000)(646,000)(3,003,000)
Recoveries of loans previously charged off44,000 33,000 112,000 614,000
Net loans recovered (charged off)35,000 (5,000)(534,000)(2,389,000)
Provision for credit losses(4,664,000)579,000
Provision for credit loss - loans(9,506,000)50,912,000
Ending balance88,498,000 88,453,000 97,964,000 88,498,000 97,964,000
Other Commercial Real Estate [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance15,912,000
Consumer & Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance21,715,000 26,068,000 24,413,000 5,410,000
Allowance for credit losses on PCD loans357,000
Loans charged off(558,000)(635,000)(1,458,000)(1,343,000)
Recoveries of loans previously charged off171,000 135,000 644,000 626,000
Net loans recovered (charged off)(387,000)(500,000)(814,000)(717,000)
Provision for credit losses(641,000)(2,912,000)
Provision for credit loss - loans(1,155,000)6,601,000
Provision for credit loss - acquired loans9,309,000
Ending balance $ 20,687,000 $ 24,413,000 $ 26,068,000 $ 20,687,000 26,068,000
Consumer & Other [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect Period of Adoption Adjustment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance $ 5,108,000

Allowance for Credit Losses, _5

Allowance for Credit Losses, Credit Quality and Other - Amortized Cost Basis of Loans on Nonaccrual Status and Loans Past Due Over 90 Days Still Accruing (Detail) - USD ($) $ in ThousandsSep. 30, 2021Dec. 31, 2020
Financing Receivable Nonaccrual Status [Line Items]
Nonaccrual $ 47,604 $ 64,528
Nonaccrual with reserve9,500 11,883
Loans Past Due Over 90 Days Still Accruing3,311 9,610
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member]
Financing Receivable Nonaccrual Status [Line Items]
Nonaccrual8,819 20,947
Nonaccrual with reserve2,244 6,794
Loans Past Due Over 90 Days Still Accruing2,413 6,088
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member]
Financing Receivable Nonaccrual Status [Line Items]
Nonaccrual1,870 1,381
Nonaccrual with reserve2,089
Loans Past Due Over 90 Days Still Accruing1,296
Commercial Real Estate Loans [Member] | Agricultural [Member]
Financing Receivable Nonaccrual Status [Line Items]
Nonaccrual743 879
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member]
Financing Receivable Nonaccrual Status [Line Items]
Nonaccrual17,495 19,334
Nonaccrual with reserve2,984 3,000
Loans Past Due Over 90 Days Still Accruing855 1,821
Residential Real Estate Loans [Member] | Multifamily Residential [Member]
Financing Receivable Nonaccrual Status [Line Items]
Nonaccrual161 173
Total Real Estate [Member]
Financing Receivable Nonaccrual Status [Line Items]
Nonaccrual29,088 42,714
Nonaccrual with reserve5,228 11,883
Loans Past Due Over 90 Days Still Accruing3,268 9,205
Consumer [Member]
Financing Receivable Nonaccrual Status [Line Items]
Nonaccrual1,921 3,506
Loans Past Due Over 90 Days Still Accruing2 174
Commercial and Industrial [Member]
Financing Receivable Nonaccrual Status [Line Items]
Nonaccrual15,989 17,251
Nonaccrual with reserve4,272
Loans Past Due Over 90 Days Still Accruing41 231
Agricultural and Other [Member]
Financing Receivable Nonaccrual Status [Line Items]
Nonaccrual $ 606 $ 1,057

Allowance for Credit Losses, _6

Allowance for Credit Losses, Credit Quality and Other - Amortized Cost Basis of Collateral-dependent Impaired Loans (Detail) - USD ($) $ in ThousandsSep. 30, 2021Dec. 31, 2020
Financing Receivable Allowance For Credit Losses [Line Items]
Amortized cost $ 300,100 $ 112,700
Commercial Real Estate [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Amortized cost255,727 54,320
Residential Real Estate [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Amortized cost21,554 32,586
Other [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Amortized cost22,807 25,778
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Commercial Real Estate [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Amortized cost249,783 47,429
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Commercial Real Estate [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Amortized cost5,201 6,012
Commercial Real Estate Loans [Member] | Agricultural [Member] | Commercial Real Estate [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Amortized cost743 879
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Residential Real Estate [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Amortized cost21,393 32,413
Residential Real Estate Loans [Member] | Multifamily Residential [Member] | Residential Real Estate [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Amortized cost161 173
Total Real Estate [Member] | Commercial Real Estate [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Amortized cost255,727 54,320
Total Real Estate [Member] | Residential Real Estate [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Amortized cost21,554 32,586
Consumer [Member] | Other [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Amortized cost1,936 3,694
Commercial and Industrial [Member] | Other [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Amortized cost20,264 21,027
Agricultural and Other [Member] | Other [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Amortized cost $ 607 $ 1,057

Allowance for Credit Losses, _7

Allowance for Credit Losses, Credit Quality and Other - Summary of Aging Analysis for Loans Receivable (Detail) - USD ($) $ in ThousandsSep. 30, 2021Dec. 31, 2020
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans $ 9,901,100 $ 11,220,721
Total Loans Receivable9,901,100 11,220,721
Accruing Loans Past Due 90 Days or More3,311 9,610
Loans Past Due 30-59 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans6,937 14,484
Loans Past Due 60-89 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans4,143 12,929
Loans Past Due 90 Days or More [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans50,915 74,138
Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans61,995 101,551
Not Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans9,839,105 11,119,170
Commercial Real Estate Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans5,887,409 6,105,789
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans4,005,841 4,429,060
Total Loans Receivable4,005,841 4,429,060
Accruing Loans Past Due 90 Days or More2,413 6,088
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Loans Past Due 30-59 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans2,213 3,856
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Loans Past Due 60-89 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans68
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Loans Past Due 90 Days or More [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans11,232 27,035
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans13,445 30,959
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Not Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans3,992,396 4,398,101
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans1,742,687 1,562,298
Total Loans Receivable1,742,687 1,562,298
Accruing Loans Past Due 90 Days or More1,296
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Loans Past Due 30-59 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans66 178
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Loans Past Due 60-89 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans171 44
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Loans Past Due 90 Days or More [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans1,870 2,677
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans2,107 2,899
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Not Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans1,740,580 1,559,399
Commercial Real Estate Loans [Member] | Agricultural [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans138,881 114,431
Total Loans Receivable138,881 114,431
Commercial Real Estate Loans [Member] | Agricultural [Member] | Loans Past Due 30-59 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans434 522
Commercial Real Estate Loans [Member] | Agricultural [Member] | Loans Past Due 60-89 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans295
Commercial Real Estate Loans [Member] | Agricultural [Member] | Loans Past Due 90 Days or More [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans743 879
Commercial Real Estate Loans [Member] | Agricultural [Member] | Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans1,472 1,401
Commercial Real Estate Loans [Member] | Agricultural [Member] | Not Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans137,409 113,030
Residential Real Estate Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans274,131 536,538
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans1,273,988 1,536,257
Total Loans Receivable1,273,988 1,536,257
Accruing Loans Past Due 90 Days or More855 1,821
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Loans Past Due 30-59 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans2,452 4,833
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Loans Past Due 60-89 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans3,072 7,787
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Loans Past Due 90 Days or More [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans18,350 21,155
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans23,874 33,775
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Not Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans1,250,114 1,502,482
Residential Real Estate Loans [Member] | Multifamily Residential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans274,131 536,538
Total Loans Receivable274,131 536,538
Residential Real Estate Loans [Member] | Multifamily Residential [Member] | Loans Past Due 30-59 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans111
Residential Real Estate Loans [Member] | Multifamily Residential [Member] | Loans Past Due 90 Days or More [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans161 173
Residential Real Estate Loans [Member] | Multifamily Residential [Member] | Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans161 284
Residential Real Estate Loans [Member] | Multifamily Residential [Member] | Not Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans273,970 536,254
Total Real Estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans7,435,528 8,178,584
Total Loans Receivable7,435,528 8,178,584
Accruing Loans Past Due 90 Days or More3,268 9,205
Total Real Estate [Member] | Loans Past Due 30-59 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans5,165 9,500
Total Real Estate [Member] | Loans Past Due 60-89 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans3,538 7,899
Total Real Estate [Member] | Loans Past Due 90 Days or More [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans32,356 51,919
Total Real Estate [Member] | Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans41,059 69,318
Total Real Estate [Member] | Not Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans7,394,469 8,109,266
Consumer [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans814,732 864,690
Total Loans Receivable814,732 864,690
Accruing Loans Past Due 90 Days or More2 174
Consumer [Member] | Loans Past Due 30-59 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans401 2,899
Consumer [Member] | Loans Past Due 60-89 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans12 802
Consumer [Member] | Loans Past Due 90 Days or More [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans1,923 3,680
Consumer [Member] | Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans2,336 7,381
Consumer [Member] | Not Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans812,396 857,309
Commercial and Industrial [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans1,414,079 1,896,442
Total Loans Receivable1,414,079 1,896,442
Accruing Loans Past Due 90 Days or More41 231
Commercial and Industrial [Member] | Loans Past Due 30-59 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans752 960
Commercial and Industrial [Member] | Loans Past Due 60-89 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans592 515
Commercial and Industrial [Member] | Loans Past Due 90 Days or More [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans16,030 17,482
Commercial and Industrial [Member] | Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans17,374 18,957
Commercial and Industrial [Member] | Not Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans1,396,705 1,877,485
Agricultural and Other [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans236,761 281,005
Total Loans Receivable236,761 281,005
Agricultural and Other [Member] | Loans Past Due 30-59 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans619 1,125
Agricultural and Other [Member] | Loans Past Due 60-89 Days [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans1 3,713
Agricultural and Other [Member] | Loans Past Due 90 Days or More [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans606 1,057
Agricultural and Other [Member] | Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans1,226 5,895
Agricultural and Other [Member] | Not Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans $ 235,535 $ 275,110

Allowance for Credit Losses, _8

Allowance for Credit Losses, Credit Quality and Other - Summary of Most Recent Analysis Performed, Risk Category of Loans by Class of Loans (Detail) - USD ($) $ in ThousandsSep. 30, 2021Dec. 31, 2020
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021 $ 1,431,831 $ 2,139,414
Term Loans Amortized Cost Basis by Origination Year 20201,394,222 1,890,351
Term Loans Amortized Cost Basis by Origination Year 20191,652,386 1,766,304
Term Loans Amortized Cost Basis by Origination Year 20181,260,249 1,149,024
Term Loans Amortized Cost Basis by Origination Year 2017764,623 973,616
Term Loans Amortized Cost Basis by Origination Year, Prior2,481,919 2,265,964
Revolving Loans Amortized Cost Basis915,870 1,036,048
Total9,901,100 11,220,721
Commercial Real Estate Loans [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021579,801 715,849
Term Loans Amortized Cost Basis by Origination Year 2020802,580 1,106,817
Term Loans Amortized Cost Basis by Origination Year 20191,064,469 971,679
Term Loans Amortized Cost Basis by Origination Year 2018764,977 668,877
Term Loans Amortized Cost Basis by Origination Year 2017479,325 653,276
Term Loans Amortized Cost Basis by Origination Year, Prior1,720,827 1,505,545
Revolving Loans Amortized Cost Basis475,430 483,746
Total5,887,409 6,105,789
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021289,385 339,067
Term Loans Amortized Cost Basis by Origination Year 2020326,262 497,640
Term Loans Amortized Cost Basis by Origination Year 2019452,111 777,509
Term Loans Amortized Cost Basis by Origination Year 2018677,375 560,608
Term Loans Amortized Cost Basis by Origination Year 2017409,759 600,924
Term Loans Amortized Cost Basis by Origination Year, Prior1,573,325 1,368,279
Revolving Loans Amortized Cost Basis277,624 285,033
Total4,005,841 4,429,060
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021267,934 341,166
Term Loans Amortized Cost Basis by Origination Year 2020443,445 599,757
Term Loans Amortized Cost Basis by Origination Year 2019603,986 183,845
Term Loans Amortized Cost Basis by Origination Year 201879,765 102,191
Term Loans Amortized Cost Basis by Origination Year 201763,383 42,918
Term Loans Amortized Cost Basis by Origination Year, Prior94,372 99,911
Revolving Loans Amortized Cost Basis189,802 192,510
Total1,742,687 1,562,298
Commercial Real Estate Loans [Member] | Agricultural [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 202122,482 35,616
Term Loans Amortized Cost Basis by Origination Year 202032,873 9,420
Term Loans Amortized Cost Basis by Origination Year 20198,372 10,325
Term Loans Amortized Cost Basis by Origination Year 20187,837 6,078
Term Loans Amortized Cost Basis by Origination Year 20176,183 9,434
Term Loans Amortized Cost Basis by Origination Year, Prior53,130 37,355
Revolving Loans Amortized Cost Basis8,004 6,203
Total138,881 114,431
Residential Real Estate Loans [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 20218,496 19,510
Term Loans Amortized Cost Basis by Origination Year 202021,514 66,533
Term Loans Amortized Cost Basis by Origination Year 201962,345 188,468
Term Loans Amortized Cost Basis by Origination Year 201846,030 105,846
Term Loans Amortized Cost Basis by Origination Year 201721,901 10,016
Term Loans Amortized Cost Basis by Origination Year, Prior69,016 102,493
Revolving Loans Amortized Cost Basis44,829 43,672
Total274,131 536,538
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021182,846 243,171
Term Loans Amortized Cost Basis by Origination Year 2020159,513 203,314
Term Loans Amortized Cost Basis by Origination Year 2019152,328 186,264
Term Loans Amortized Cost Basis by Origination Year 2018132,572 166,567
Term Loans Amortized Cost Basis by Origination Year 2017114,649 139,471
Term Loans Amortized Cost Basis by Origination Year, Prior407,763 435,570
Revolving Loans Amortized Cost Basis124,317 161,900
Total1,273,988 1,536,257
Residential Real Estate Loans [Member] | Multifamily Residential [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 20218,496 19,510
Term Loans Amortized Cost Basis by Origination Year 202021,514 66,533
Term Loans Amortized Cost Basis by Origination Year 201962,345 188,468
Term Loans Amortized Cost Basis by Origination Year 201846,030 105,846
Term Loans Amortized Cost Basis by Origination Year 201721,901 10,016
Term Loans Amortized Cost Basis by Origination Year, Prior69,016 102,493
Revolving Loans Amortized Cost Basis44,829 43,672
Total274,131 536,538
Total Real Estate [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021771,143 978,530
Term Loans Amortized Cost Basis by Origination Year 2020983,607 1,376,664
Term Loans Amortized Cost Basis by Origination Year 20191,279,142 1,346,411
Term Loans Amortized Cost Basis by Origination Year 2018943,579 941,290
Term Loans Amortized Cost Basis by Origination Year 2017615,875 802,763
Term Loans Amortized Cost Basis by Origination Year, Prior2,197,606 2,043,608
Revolving Loans Amortized Cost Basis644,576 689,318
Total7,435,528 8,178,584
Consumer [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021159,355 236,433
Term Loans Amortized Cost Basis by Origination Year 2020192,424 199,053
Term Loans Amortized Cost Basis by Origination Year 2019152,568 158,530
Term Loans Amortized Cost Basis by Origination Year 2018120,671 99,909
Term Loans Amortized Cost Basis by Origination Year 201772,968 73,404
Term Loans Amortized Cost Basis by Origination Year, Prior108,077 75,091
Revolving Loans Amortized Cost Basis8,669 22,270
Total814,732 864,690
Commercial and Industrial [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021425,755 785,839
Term Loans Amortized Cost Basis by Origination Year 2020157,475 297,707
Term Loans Amortized Cost Basis by Origination Year 2019211,587 254,650
Term Loans Amortized Cost Basis by Origination Year 2018186,871 101,684
Term Loans Amortized Cost Basis by Origination Year 201772,152 77,776
Term Loans Amortized Cost Basis by Origination Year, Prior122,401 103,522
Revolving Loans Amortized Cost Basis237,838 275,264
Total1,414,079 1,896,442
Agricultural and Other [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 202175,578 138,612
Term Loans Amortized Cost Basis by Origination Year 202060,716 16,927
Term Loans Amortized Cost Basis by Origination Year 20199,089 6,713
Term Loans Amortized Cost Basis by Origination Year 20189,128 6,141
Term Loans Amortized Cost Basis by Origination Year 20173,628 19,673
Term Loans Amortized Cost Basis by Origination Year, Prior53,835 43,743
Revolving Loans Amortized Cost Basis24,787 49,196
Total236,761 281,005
Risk Rated 1 [Member] | Residential Real Estate Loans [Member] | Residential 1-4 Family [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 202047
Term Loans Amortized Cost Basis by Origination Year 201776
Term Loans Amortized Cost Basis by Origination Year, Prior80 12
Revolving Loans Amortized Cost Basis90 120
Total170 255
Risk Rated 1 [Member] | Consumer [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 20212,930 3,389
Term Loans Amortized Cost Basis by Origination Year 20202,109 2,375
Term Loans Amortized Cost Basis by Origination Year 20191,556 1,596
Term Loans Amortized Cost Basis by Origination Year 20181,064 485
Term Loans Amortized Cost Basis by Origination Year 2017259 828
Term Loans Amortized Cost Basis by Origination Year, Prior1,777 1,428
Revolving Loans Amortized Cost Basis1,753 1,957
Total11,448 12,058
Risk Rated 1 [Member] | Commercial and Industrial [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021210,222 632,735
Term Loans Amortized Cost Basis by Origination Year 202028,846 506
Term Loans Amortized Cost Basis by Origination Year 2019371 271
Term Loans Amortized Cost Basis by Origination Year 2018157 183
Term Loans Amortized Cost Basis by Origination Year 2017169 20,199
Term Loans Amortized Cost Basis by Origination Year, Prior21,457 1,445
Revolving Loans Amortized Cost Basis11,885 10,023
Total273,107 665,362
Risk Rated 1 [Member] | Agricultural and Other [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 202111,231 59,248
Term Loans Amortized Cost Basis by Origination Year 2020203 51
Term Loans Amortized Cost Basis by Origination Year 201943 53
Term Loans Amortized Cost Basis by Origination Year 2017110
Term Loans Amortized Cost Basis by Origination Year, Prior112 27
Revolving Loans Amortized Cost Basis375 1,036
Total11,964 60,525
Risk Rated 2 [Member] | Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Revolving Loans Amortized Cost Basis209,027 25
Total209,027 25
Risk Rated 2 [Member] | Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year, Prior235 283
Total235 283
Risk Rated 2 [Member] | Residential Real Estate Loans [Member] | Residential 1-4 Family [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year, Prior29 423
Revolving Loans Amortized Cost Basis1,540
Total29 1,963
Risk Rated 2 [Member] | Consumer [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 202047
Term Loans Amortized Cost Basis by Origination Year 201945 931
Term Loans Amortized Cost Basis by Origination Year 2018647
Term Loans Amortized Cost Basis by Origination Year, Prior9 12
Revolving Loans Amortized Cost Basis57
Total701 1,047
Risk Rated 2 [Member] | Commercial and Industrial [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 202119 29
Term Loans Amortized Cost Basis by Origination Year 202019 187
Term Loans Amortized Cost Basis by Origination Year 20192
Term Loans Amortized Cost Basis by Origination Year 201896
Term Loans Amortized Cost Basis by Origination Year 201787 67
Term Loans Amortized Cost Basis by Origination Year, Prior280 623
Revolving Loans Amortized Cost Basis175 268
Total580 1,272
Risk Rated 2 [Member] | Agricultural and Other [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 202116
Term Loans Amortized Cost Basis by Origination Year 20204,571
Term Loans Amortized Cost Basis by Origination Year 20193,467
Term Loans Amortized Cost Basis by Origination Year, Prior908 2,859
Revolving Loans Amortized Cost Basis809 1,159
Total5,184 8,605
Risk Rated 3 [Member] | Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021182,402 301,237
Term Loans Amortized Cost Basis by Origination Year 2020280,163 340,562
Term Loans Amortized Cost Basis by Origination Year 2019314,000 546,670
Term Loans Amortized Cost Basis by Origination Year 2018396,848 286,173
Term Loans Amortized Cost Basis by Origination Year 2017247,852 289,483
Term Loans Amortized Cost Basis by Origination Year, Prior981,970 942,449
Revolving Loans Amortized Cost Basis68,510 266,867
Total2,471,745 2,973,441
Risk Rated 3 [Member] | Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021150,620 211,567
Term Loans Amortized Cost Basis by Origination Year 2020228,246 181,257
Term Loans Amortized Cost Basis by Origination Year 2019100,935 91,323
Term Loans Amortized Cost Basis by Origination Year 201833,933 33,986
Term Loans Amortized Cost Basis by Origination Year 201723,005 25,600
Term Loans Amortized Cost Basis by Origination Year, Prior42,863 54,245
Revolving Loans Amortized Cost Basis166,151 115,120
Total745,753 713,098
Risk Rated 3 [Member] | Commercial Real Estate Loans [Member] | Agricultural [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 202118,093 33,428
Term Loans Amortized Cost Basis by Origination Year 202030,708 8,885
Term Loans Amortized Cost Basis by Origination Year 20198,005 9,119
Term Loans Amortized Cost Basis by Origination Year 20186,673 5,397
Term Loans Amortized Cost Basis by Origination Year 20175,412 3,935
Term Loans Amortized Cost Basis by Origination Year, Prior21,538 25,159
Revolving Loans Amortized Cost Basis6,616 5,538
Total97,045 91,461
Risk Rated 3 [Member] | Residential Real Estate Loans [Member] | Residential 1-4 Family [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021173,712 237,991
Term Loans Amortized Cost Basis by Origination Year 2020153,260 184,578
Term Loans Amortized Cost Basis by Origination Year 2019140,787 151,478
Term Loans Amortized Cost Basis by Origination Year 2018111,458 139,096
Term Loans Amortized Cost Basis by Origination Year 201789,445 119,642
Term Loans Amortized Cost Basis by Origination Year, Prior324,888 343,381
Revolving Loans Amortized Cost Basis86,267 119,186
Total1,079,817 1,295,352
Risk Rated 3 [Member] | Residential Real Estate Loans [Member] | Multifamily Residential [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 20218,496 19,033
Term Loans Amortized Cost Basis by Origination Year 202010,243 60,175
Term Loans Amortized Cost Basis by Origination Year 201935,143 87,104
Term Loans Amortized Cost Basis by Origination Year 201834,974 11,477
Term Loans Amortized Cost Basis by Origination Year 20179,825 8,092
Term Loans Amortized Cost Basis by Origination Year, Prior46,473 59,592
Revolving Loans Amortized Cost Basis7,782 6,386
Total152,936 251,859
Risk Rated 3 [Member] | Consumer [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021153,432 229,189
Term Loans Amortized Cost Basis by Origination Year 2020189,046 192,054
Term Loans Amortized Cost Basis by Origination Year 2019147,510 152,646
Term Loans Amortized Cost Basis by Origination Year 2018116,833 97,812
Term Loans Amortized Cost Basis by Origination Year 201772,351 68,585
Term Loans Amortized Cost Basis by Origination Year, Prior102,108 68,871
Revolving Loans Amortized Cost Basis6,801 20,094
Total788,081 829,251
Risk Rated 3 [Member] | Commercial and Industrial [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 202175,240 80,586
Term Loans Amortized Cost Basis by Origination Year 202077,113 131,717
Term Loans Amortized Cost Basis by Origination Year 201995,166 62,814
Term Loans Amortized Cost Basis by Origination Year 201852,322 35,651
Term Loans Amortized Cost Basis by Origination Year 201725,516 39,502
Term Loans Amortized Cost Basis by Origination Year, Prior55,060 52,743
Revolving Loans Amortized Cost Basis148,891 135,590
Total529,308 538,603
Risk Rated 3 [Member] | Agricultural and Other [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 202158,313 78,305
Term Loans Amortized Cost Basis by Origination Year 202060,137 7,045
Term Loans Amortized Cost Basis by Origination Year 20195,395 5,050
Term Loans Amortized Cost Basis by Origination Year 20187,572 5,045
Term Loans Amortized Cost Basis by Origination Year 20172,187 18,445
Term Loans Amortized Cost Basis by Origination Year, Prior50,145 36,925
Revolving Loans Amortized Cost Basis14,162 42,401
Total197,911 193,216
Risk Rated 4 [Member] | Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021106,983 27,239
Term Loans Amortized Cost Basis by Origination Year 202035,274 139,354
Term Loans Amortized Cost Basis by Origination Year 2019120,584 161,461
Term Loans Amortized Cost Basis by Origination Year 2018257,933 265,684
Term Loans Amortized Cost Basis by Origination Year 2017112,120 197,979
Term Loans Amortized Cost Basis by Origination Year, Prior358,937 300,055
Revolving Loans Amortized Cost Basis87 17,305
Total991,918 1,109,077
Risk Rated 4 [Member] | Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021117,314 129,599
Term Loans Amortized Cost Basis by Origination Year 2020215,084 417,737
Term Loans Amortized Cost Basis by Origination Year 2019501,761 92,032
Term Loans Amortized Cost Basis by Origination Year 201845,824 46,249
Term Loans Amortized Cost Basis by Origination Year 201740,377 17,161
Term Loans Amortized Cost Basis by Origination Year, Prior39,461 32,060
Revolving Loans Amortized Cost Basis23,650 76,845
Total983,471 811,683
Risk Rated 4 [Member] | Commercial Real Estate Loans [Member] | Agricultural [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 20214,389 2,141
Term Loans Amortized Cost Basis by Origination Year 20202,120 535
Term Loans Amortized Cost Basis by Origination Year 2019367 1,206
Term Loans Amortized Cost Basis by Origination Year 20181,164 681
Term Loans Amortized Cost Basis by Origination Year 2017771 5,499
Term Loans Amortized Cost Basis by Origination Year, Prior30,233 10,735
Revolving Loans Amortized Cost Basis1,388 665
Total40,432 21,462
Risk Rated 4 [Member] | Residential Real Estate Loans [Member] | Residential 1-4 Family [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 20218,346 4,626
Term Loans Amortized Cost Basis by Origination Year 20204,250 12,716
Term Loans Amortized Cost Basis by Origination Year 20196,071 32,594
Term Loans Amortized Cost Basis by Origination Year 201817,677 20,687
Term Loans Amortized Cost Basis by Origination Year 201723,144 16,148
Term Loans Amortized Cost Basis by Origination Year, Prior60,710 68,328
Revolving Loans Amortized Cost Basis30,830 30,137
Total151,028 185,236
Risk Rated 4 [Member] | Residential Real Estate Loans [Member] | Multifamily Residential [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021477
Term Loans Amortized Cost Basis by Origination Year 202011,271 6,358
Term Loans Amortized Cost Basis by Origination Year 201927,202 101,364
Term Loans Amortized Cost Basis by Origination Year 20183,435 93,475
Term Loans Amortized Cost Basis by Origination Year 20173,009 1,924
Term Loans Amortized Cost Basis by Origination Year, Prior21,128 17,672
Revolving Loans Amortized Cost Basis37,047 37,286
Total103,092 258,556
Risk Rated 4 [Member] | Consumer [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 20212,993 3,699
Term Loans Amortized Cost Basis by Origination Year 20201,107 3,479
Term Loans Amortized Cost Basis by Origination Year 20193,110 2,769
Term Loans Amortized Cost Basis by Origination Year 20181,908 1,411
Term Loans Amortized Cost Basis by Origination Year 2017185 1,371
Term Loans Amortized Cost Basis by Origination Year, Prior2,407 1,991
Revolving Loans Amortized Cost Basis74 117
Total11,784 14,837
Risk Rated 4 [Member] | Commercial and Industrial [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021132,855 68,032
Term Loans Amortized Cost Basis by Origination Year 202035,907 144,867
Term Loans Amortized Cost Basis by Origination Year 2019107,294 149,445
Term Loans Amortized Cost Basis by Origination Year 201898,787 42,416
Term Loans Amortized Cost Basis by Origination Year 201735,085 15,138
Term Loans Amortized Cost Basis by Origination Year, Prior37,893 43,065
Revolving Loans Amortized Cost Basis75,883 115,341
Total523,704 578,304
Risk Rated 4 [Member] | Agricultural and Other [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 20216,034 1,043
Term Loans Amortized Cost Basis by Origination Year 2020376 5,041
Term Loans Amortized Cost Basis by Origination Year 2019157 1,592
Term Loans Amortized Cost Basis by Origination Year 20181,542 1,096
Term Loans Amortized Cost Basis by Origination Year 20171,408 895
Term Loans Amortized Cost Basis by Origination Year, Prior1,487 1,703
Revolving Loans Amortized Cost Basis9,441 4,600
Total20,445 15,970
Risk Rated 5 [Member] | Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 202110,591
Term Loans Amortized Cost Basis by Origination Year 202010,825 16,865
Term Loans Amortized Cost Basis by Origination Year 20192,308 67,089
Term Loans Amortized Cost Basis by Origination Year 201820,791 7,764
Term Loans Amortized Cost Basis by Origination Year 201737,848 108,885
Term Loans Amortized Cost Basis by Origination Year, Prior197,539 84,609
Revolving Loans Amortized Cost Basis750
Total269,311 296,553
Risk Rated 5 [Member] | Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2019416 392
Term Loans Amortized Cost Basis by Origination Year 201821,892
Term Loans Amortized Cost Basis by Origination Year, Prior1,177 1,227
Revolving Loans Amortized Cost Basis1 545
Total1,594 24,056
Risk Rated 5 [Member] | Commercial Real Estate Loans [Member] | Agricultural [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year, Prior116
Total116
Risk Rated 5 [Member] | Residential Real Estate Loans [Member] | Residential 1-4 Family [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 20193,064 1,363
Term Loans Amortized Cost Basis by Origination Year 20181,506 4,700
Term Loans Amortized Cost Basis by Origination Year 2017529 383
Term Loans Amortized Cost Basis by Origination Year, Prior5,114 5,344
Revolving Loans Amortized Cost Basis197 516
Total10,410 12,306
Risk Rated 5 [Member] | Residential Real Estate Loans [Member] | Multifamily Residential [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 20187,621
Term Loans Amortized Cost Basis by Origination Year 20178,170
Term Loans Amortized Cost Basis by Origination Year, Prior24,945
Total15,791 24,945
Risk Rated 5 [Member] | Consumer [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021144
Term Loans Amortized Cost Basis by Origination Year 2020116 737
Term Loans Amortized Cost Basis by Origination Year 201922
Term Loans Amortized Cost Basis by Origination Year 201899 198
Term Loans Amortized Cost Basis by Origination Year 2017172 568
Term Loans Amortized Cost Basis by Origination Year, Prior134 321
Total521 1,990
Risk Rated 5 [Member] | Commercial and Industrial [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 20216,197 3,195
Term Loans Amortized Cost Basis by Origination Year 2020158 16,341
Term Loans Amortized Cost Basis by Origination Year 20192,019 11,283
Term Loans Amortized Cost Basis by Origination Year 20188,387 346
Term Loans Amortized Cost Basis by Origination Year 20175,725 251
Term Loans Amortized Cost Basis by Origination Year, Prior3,077 448
Revolving Loans Amortized Cost Basis672 10,637
Total26,235 42,501
Risk Rated 5 [Member] | Agricultural and Other [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year, Prior597 605
Total597 605
Risk Rated 6 [Member] | Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2020859
Term Loans Amortized Cost Basis by Origination Year 201915,219 2,289
Term Loans Amortized Cost Basis by Origination Year 20181,803 987
Term Loans Amortized Cost Basis by Origination Year 201711,939 4,577
Term Loans Amortized Cost Basis by Origination Year, Prior34,797 40,600
Revolving Loans Amortized Cost Basis86
Total63,758 49,398
Risk Rated 6 [Member] | Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2020115 763
Term Loans Amortized Cost Basis by Origination Year 2019874 98
Term Loans Amortized Cost Basis by Origination Year 20188 63
Term Loans Amortized Cost Basis by Origination Year 2017157
Term Loans Amortized Cost Basis by Origination Year, Prior10,636 12,065
Total11,633 13,146
Risk Rated 6 [Member] | Commercial Real Estate Loans [Member] | Agricultural [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 202147
Term Loans Amortized Cost Basis by Origination Year 202045
Term Loans Amortized Cost Basis by Origination Year, Prior1,359 1,345
Total1,404 1,392
Risk Rated 6 [Member] | Residential Real Estate Loans [Member] | Residential 1-4 Family [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021788 554
Term Loans Amortized Cost Basis by Origination Year 20202,003 5,973
Term Loans Amortized Cost Basis by Origination Year 20192,406 829
Term Loans Amortized Cost Basis by Origination Year 20181,931 2,084
Term Loans Amortized Cost Basis by Origination Year 20171,525 3,222
Term Loans Amortized Cost Basis by Origination Year, Prior16,914 18,074
Revolving Loans Amortized Cost Basis6,933 10,257
Total32,500 40,993
Risk Rated 6 [Member] | Residential Real Estate Loans [Member] | Multifamily Residential [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2018894
Term Loans Amortized Cost Basis by Origination Year 2017897
Term Loans Amortized Cost Basis by Origination Year, Prior1,415 284
Total2,312 1,178
Risk Rated 6 [Member] | Consumer [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 202112
Term Loans Amortized Cost Basis by Origination Year 202046 361
Term Loans Amortized Cost Basis by Origination Year 2019347 566
Term Loans Amortized Cost Basis by Origination Year 2018120 3
Term Loans Amortized Cost Basis by Origination Year 20172,052
Term Loans Amortized Cost Basis by Origination Year, Prior1,641 2,468
Revolving Loans Amortized Cost Basis41 45
Total2,195 5,507
Risk Rated 6 [Member] | Commercial and Industrial [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 20211,222 1,261
Term Loans Amortized Cost Basis by Origination Year 202015,430 4,086
Term Loans Amortized Cost Basis by Origination Year 20196,736 30,834
Term Loans Amortized Cost Basis by Origination Year 201825,441 22,992
Term Loans Amortized Cost Basis by Origination Year 20175,570 2,615
Term Loans Amortized Cost Basis by Origination Year, Prior4,633 5,198
Revolving Loans Amortized Cost Basis330 3,405
Total59,362 70,391
Risk Rated 6 [Member] | Agricultural and Other [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2020219
Term Loans Amortized Cost Basis by Origination Year 201927 18
Term Loans Amortized Cost Basis by Origination Year 201814
Term Loans Amortized Cost Basis by Origination Year 201733 223
Term Loans Amortized Cost Basis by Origination Year, Prior586 1,624
Total660 2,084
Risk Rated 7 [Member] | Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year, Prior552
Total552
Risk Rated 7 [Member] | Commercial and Industrial [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 20203
Term Loans Amortized Cost Basis by Origination Year 20181,777
Total1,777 3
Risk Rated 8 [Member] | Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year, Prior82 14
Total82 14
Risk Rated 8 [Member] | Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 20181
Term Loans Amortized Cost Basis by Origination Year 20171
Term Loans Amortized Cost Basis by Origination Year, Prior31
Total1 32
Risk Rated 8 [Member] | Residential Real Estate Loans [Member] | Residential 1-4 Family [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 20176
Term Loans Amortized Cost Basis by Origination Year, Prior28 8
Revolving Loans Amortized Cost Basis144
Total34 152
Risk Rated 8 [Member] | Consumer [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 20171
Term Loans Amortized Cost Basis by Origination Year, Prior1
Total2
Risk Rated 8 [Member] | Commercial and Industrial [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 20211
Term Loans Amortized Cost Basis by Origination Year 20202
Term Loans Amortized Cost Basis by Origination Year 20191 1
Term Loans Amortized Cost Basis by Origination Year 20174
Term Loans Amortized Cost Basis by Origination Year, Prior1
Revolving Loans Amortized Cost Basis2
Total $ 6 $ 6

Allowance for Credit Losses, _9

Allowance for Credit Losses, Credit Quality and Other - Summary of Amortized Cost of Performing and Nonperforming Loans (Detail) - USD ($) $ in ThousandsSep. 30, 2021Dec. 31, 2020
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021 $ 1,431,831 $ 2,139,414
Term Loans Amortized Cost Basis by Origination Year 20201,394,222 1,890,351
Term Loans Amortized Cost Basis by Origination Year 20191,652,386 1,766,304
Term Loans Amortized Cost Basis by Origination Year 20181,260,249 1,149,024
Term Loans Amortized Cost Basis by Origination Year 2017764,623 973,616
Term Loans Amortized Cost Basis by Origination Year, Prior2,481,919 2,265,964
Revolving Loans Amortized Cost Basis915,870 1,036,048
Total9,901,100 11,220,721
Commercial Real Estate Loans [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021579,801 715,849
Term Loans Amortized Cost Basis by Origination Year 2020802,580 1,106,817
Term Loans Amortized Cost Basis by Origination Year 20191,064,469 971,679
Term Loans Amortized Cost Basis by Origination Year 2018764,977 668,877
Term Loans Amortized Cost Basis by Origination Year 2017479,325 653,276
Term Loans Amortized Cost Basis by Origination Year, Prior1,720,827 1,505,545
Revolving Loans Amortized Cost Basis475,430 483,746
Total5,887,409 6,105,789
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021289,385 339,067
Term Loans Amortized Cost Basis by Origination Year 2020326,262 497,640
Term Loans Amortized Cost Basis by Origination Year 2019452,111 777,509
Term Loans Amortized Cost Basis by Origination Year 2018677,375 560,608
Term Loans Amortized Cost Basis by Origination Year 2017409,759 600,924
Term Loans Amortized Cost Basis by Origination Year, Prior1,573,325 1,368,279
Revolving Loans Amortized Cost Basis277,624 285,033
Total4,005,841 4,429,060
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Performing [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021289,385 339,067
Term Loans Amortized Cost Basis by Origination Year 2020316,115 497,640
Term Loans Amortized Cost Basis by Origination Year 2019437,231 775,220
Term Loans Amortized Cost Basis by Origination Year 2018657,174 560,279
Term Loans Amortized Cost Basis by Origination Year 2017371,874 598,074
Term Loans Amortized Cost Basis by Origination Year, Prior1,406,655 1,326,404
Revolving Loans Amortized Cost Basis277,624 284,947
Total3,756,058 4,381,631
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Non-performing [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 202010,147
Term Loans Amortized Cost Basis by Origination Year 201914,880 2,289
Term Loans Amortized Cost Basis by Origination Year 201820,201 329
Term Loans Amortized Cost Basis by Origination Year 201737,885 2,850
Term Loans Amortized Cost Basis by Origination Year, Prior166,670 41,875
Revolving Loans Amortized Cost Basis86
Total249,783 47,429
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021267,934 341,166
Term Loans Amortized Cost Basis by Origination Year 2020443,445 599,757
Term Loans Amortized Cost Basis by Origination Year 2019603,986 183,845
Term Loans Amortized Cost Basis by Origination Year 201879,765 102,191
Term Loans Amortized Cost Basis by Origination Year 201763,383 42,918
Term Loans Amortized Cost Basis by Origination Year, Prior94,372 99,911
Revolving Loans Amortized Cost Basis189,802 192,510
Total1,742,687 1,562,298
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Performing [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021267,934 341,166
Term Loans Amortized Cost Basis by Origination Year 2020443,330 598,995
Term Loans Amortized Cost Basis by Origination Year 2019602,793 183,821
Term Loans Amortized Cost Basis by Origination Year 201879,757 102,127
Term Loans Amortized Cost Basis by Origination Year 201763,382 42,779
Term Loans Amortized Cost Basis by Origination Year, Prior90,488 94,888
Revolving Loans Amortized Cost Basis189,802 192,510
Total1,737,486 1,556,286
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Non-performing [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2020115 762
Term Loans Amortized Cost Basis by Origination Year 20191,193 24
Term Loans Amortized Cost Basis by Origination Year 20188 64
Term Loans Amortized Cost Basis by Origination Year 20171 139
Term Loans Amortized Cost Basis by Origination Year, Prior3,884 5,023
Total5,201 6,012
Commercial Real Estate Loans [Member] | Agricultural [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 202122,482 35,616
Term Loans Amortized Cost Basis by Origination Year 202032,873 9,420
Term Loans Amortized Cost Basis by Origination Year 20198,372 10,325
Term Loans Amortized Cost Basis by Origination Year 20187,837 6,078
Term Loans Amortized Cost Basis by Origination Year 20176,183 9,434
Term Loans Amortized Cost Basis by Origination Year, Prior53,130 37,355
Revolving Loans Amortized Cost Basis8,004 6,203
Total138,881 114,431
Commercial Real Estate Loans [Member] | Agricultural [Member] | Performing [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 202122,482 35,616
Term Loans Amortized Cost Basis by Origination Year 202032,873 9,420
Term Loans Amortized Cost Basis by Origination Year 20198,372 10,325
Term Loans Amortized Cost Basis by Origination Year 20187,837 6,078
Term Loans Amortized Cost Basis by Origination Year 20176,183 9,434
Term Loans Amortized Cost Basis by Origination Year, Prior52,387 36,476
Revolving Loans Amortized Cost Basis8,004 6,203
Total138,138 113,552
Commercial Real Estate Loans [Member] | Agricultural [Member] | Non-performing [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year, Prior743 879
Total743 879
Residential Real Estate Loans [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 20218,496 19,510
Term Loans Amortized Cost Basis by Origination Year 202021,514 66,533
Term Loans Amortized Cost Basis by Origination Year 201962,345 188,468
Term Loans Amortized Cost Basis by Origination Year 201846,030 105,846
Term Loans Amortized Cost Basis by Origination Year 201721,901 10,016
Term Loans Amortized Cost Basis by Origination Year, Prior69,016 102,493
Revolving Loans Amortized Cost Basis44,829 43,672
Total274,131 536,538
Residential Real Estate Loans [Member] | Performing [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 20218,496 19,510
Term Loans Amortized Cost Basis by Origination Year 202021,514 66,533
Term Loans Amortized Cost Basis by Origination Year 201962,345 188,468
Term Loans Amortized Cost Basis by Origination Year 201846,030 105,846
Term Loans Amortized Cost Basis by Origination Year 201721,901 10,016
Term Loans Amortized Cost Basis by Origination Year, Prior68,855 102,320
Revolving Loans Amortized Cost Basis44,829 43,672
Total273,970 536,365
Residential Real Estate Loans [Member] | Non-performing [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year, Prior161 173
Total161 173
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021182,846 243,171
Term Loans Amortized Cost Basis by Origination Year 2020159,513 203,314
Term Loans Amortized Cost Basis by Origination Year 2019152,328 186,264
Term Loans Amortized Cost Basis by Origination Year 2018132,572 166,567
Term Loans Amortized Cost Basis by Origination Year 2017114,649 139,471
Term Loans Amortized Cost Basis by Origination Year, Prior407,763 435,570
Revolving Loans Amortized Cost Basis124,317 161,900
Total1,273,988 1,536,257
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Performing [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021182,588 242,505
Term Loans Amortized Cost Basis by Origination Year 2020156,843 196,951
Term Loans Amortized Cost Basis by Origination Year 2019150,130 185,316
Term Loans Amortized Cost Basis by Origination Year 2018131,375 161,274
Term Loans Amortized Cost Basis by Origination Year 2017113,265 137,840
Term Loans Amortized Cost Basis by Origination Year, Prior400,128 425,056
Revolving Loans Amortized Cost Basis118,266 154,902
Total1,252,595 1,503,844
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Non-performing [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021258 666
Term Loans Amortized Cost Basis by Origination Year 20202,670 6,363
Term Loans Amortized Cost Basis by Origination Year 20192,198 948
Term Loans Amortized Cost Basis by Origination Year 20181,197 5,293
Term Loans Amortized Cost Basis by Origination Year 20171,384 1,631
Term Loans Amortized Cost Basis by Origination Year, Prior7,635 10,514
Revolving Loans Amortized Cost Basis6,051 6,998
Total21,393 32,413
Total Real Estate [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021771,143 978,530
Term Loans Amortized Cost Basis by Origination Year 2020983,607 1,376,664
Term Loans Amortized Cost Basis by Origination Year 20191,279,142 1,346,411
Term Loans Amortized Cost Basis by Origination Year 2018943,579 941,290
Term Loans Amortized Cost Basis by Origination Year 2017615,875 802,763
Term Loans Amortized Cost Basis by Origination Year, Prior2,197,606 2,043,608
Revolving Loans Amortized Cost Basis644,576 689,318
Total7,435,528 8,178,584
Consumer [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021159,355 236,433
Term Loans Amortized Cost Basis by Origination Year 2020192,424 199,053
Term Loans Amortized Cost Basis by Origination Year 2019152,568 158,530
Term Loans Amortized Cost Basis by Origination Year 2018120,671 99,909
Term Loans Amortized Cost Basis by Origination Year 201772,968 73,404
Term Loans Amortized Cost Basis by Origination Year, Prior108,077 75,091
Revolving Loans Amortized Cost Basis8,669 22,270
Total814,732 864,690
Consumer [Member] | Performing [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021159,355 236,395
Term Loans Amortized Cost Basis by Origination Year 2020192,386 198,737
Term Loans Amortized Cost Basis by Origination Year 2019152,253 158,324
Term Loans Amortized Cost Basis by Origination Year 2018120,554 99,905
Term Loans Amortized Cost Basis by Origination Year 201772,967 71,924
Term Loans Amortized Cost Basis by Origination Year, Prior106,619 73,448
Revolving Loans Amortized Cost Basis8,662 22,263
Total812,796 860,996
Consumer [Member] | Non-performing [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 202138
Term Loans Amortized Cost Basis by Origination Year 202038 316
Term Loans Amortized Cost Basis by Origination Year 2019315 206
Term Loans Amortized Cost Basis by Origination Year 2018117 4
Term Loans Amortized Cost Basis by Origination Year 20171 1,480
Term Loans Amortized Cost Basis by Origination Year, Prior1,458 1,643
Revolving Loans Amortized Cost Basis7 7
Total1,936 3,694
Commercial and Industrial [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021425,755 785,839
Term Loans Amortized Cost Basis by Origination Year 2020157,475 297,707
Term Loans Amortized Cost Basis by Origination Year 2019211,587 254,650
Term Loans Amortized Cost Basis by Origination Year 2018186,871 101,684
Term Loans Amortized Cost Basis by Origination Year 201772,152 77,776
Term Loans Amortized Cost Basis by Origination Year, Prior122,401 103,522
Revolving Loans Amortized Cost Basis237,838 275,264
Total1,414,079 1,896,442
Commercial and Industrial [Member] | Performing [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 2021425,755 785,776
Term Loans Amortized Cost Basis by Origination Year 2020157,273 293,938
Term Loans Amortized Cost Basis by Origination Year 2019207,163 246,177
Term Loans Amortized Cost Basis by Origination Year 2018177,113 98,664
Term Loans Amortized Cost Basis by Origination Year 201769,338 76,427
Term Loans Amortized Cost Basis by Origination Year, Prior119,460 100,050
Revolving Loans Amortized Cost Basis237,713 274,383
Total1,393,815 1,875,415
Commercial and Industrial [Member] | Non-performing [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 202163
Term Loans Amortized Cost Basis by Origination Year 2020202 3,769
Term Loans Amortized Cost Basis by Origination Year 20194,424 8,473
Term Loans Amortized Cost Basis by Origination Year 20189,758 3,020
Term Loans Amortized Cost Basis by Origination Year 20172,814 1,349
Term Loans Amortized Cost Basis by Origination Year, Prior2,941 3,472
Revolving Loans Amortized Cost Basis125 881
Total20,264 21,027
Agricultural and Other [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 202175,578 138,612
Term Loans Amortized Cost Basis by Origination Year 202060,716 16,927
Term Loans Amortized Cost Basis by Origination Year 20199,089 6,713
Term Loans Amortized Cost Basis by Origination Year 20189,128 6,141
Term Loans Amortized Cost Basis by Origination Year 20173,628 19,673
Term Loans Amortized Cost Basis by Origination Year, Prior53,835 43,743
Revolving Loans Amortized Cost Basis24,787 49,196
Total236,761 281,005
Agricultural and Other [Member] | Performing [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 202175,578 138,612
Term Loans Amortized Cost Basis by Origination Year 202060,716 16,927
Term Loans Amortized Cost Basis by Origination Year 20199,062 6,695
Term Loans Amortized Cost Basis by Origination Year 20188,859 6,141
Term Loans Amortized Cost Basis by Origination Year 20173,595 19,450
Term Loans Amortized Cost Basis by Origination Year, Prior53,566 42,927
Revolving Loans Amortized Cost Basis24,778 49,196
Total236,154 279,948
Agricultural and Other [Member] | Non-performing [Member]
Financing Receivable Allowance For Credit Losses [Line Items]
Term Loans Amortized Cost Basis by Origination Year 201927 18
Term Loans Amortized Cost Basis by Origination Year 2018269
Term Loans Amortized Cost Basis by Origination Year 201733 223
Term Loans Amortized Cost Basis by Origination Year, Prior269 816
Revolving Loans Amortized Cost Basis9
Total $ 607 $ 1,057

Allowance for Credit Losses,_10

Allowance for Credit Losses, Credit Quality and Other - Presentation of Troubled Debt Restructurings ("TDRs") by Class (Detail) $ in Thousands9 Months Ended12 Months Ended
Sep. 30, 2021USD ($)ContractDec. 31, 2020USD ($)Contract
Financing Receivable, Modifications [Line Items]
Number of Loans | Contract47 51
Pre-Modification Outstanding Balance $ 11,594 $ 17,250
Post-Modification Outstanding Balance6,728 12,316
Rate Modification [Member]
Financing Receivable, Modifications [Line Items]
Post-Modification Outstanding Balance5,312 6,380
Term Modification [Member]
Financing Receivable, Modifications [Line Items]
Post-Modification Outstanding Balance874 682
Rate and Term Modification [Member]
Financing Receivable, Modifications [Line Items]
Post-Modification Outstanding Balance $ 542 $ 5,254
Consumer [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | Contract4 1
Pre-Modification Outstanding Balance $ 22 $ 17
Post-Modification Outstanding Balance17 14
Consumer [Member] | Rate Modification [Member]
Financing Receivable, Modifications [Line Items]
Post-Modification Outstanding Balance14 $ 14
Consumer [Member] | Rate and Term Modification [Member]
Financing Receivable, Modifications [Line Items]
Post-Modification Outstanding Balance $ 3
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | Contract12 14
Pre-Modification Outstanding Balance $ 6,119 $ 11,510
Post-Modification Outstanding Balance4,381 9,456
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Rate Modification [Member]
Financing Receivable, Modifications [Line Items]
Post-Modification Outstanding Balance3,666 4,350
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Term Modification [Member]
Financing Receivable, Modifications [Line Items]
Post-Modification Outstanding Balance628 383
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member] | Rate and Term Modification [Member]
Financing Receivable, Modifications [Line Items]
Post-Modification Outstanding Balance $ 87 $ 4,723
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | Contract3 2
Pre-Modification Outstanding Balance $ 322 $ 58
Post-Modification Outstanding Balance218 16
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Rate Modification [Member]
Financing Receivable, Modifications [Line Items]
Post-Modification Outstanding Balance216
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Term Modification [Member]
Financing Receivable, Modifications [Line Items]
Post-Modification Outstanding Balance $ 2 7
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member] | Rate and Term Modification [Member]
Financing Receivable, Modifications [Line Items]
Post-Modification Outstanding Balance $ 9
Commercial Real Estate Loans [Member] | Agricultural [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | Contract1 1
Pre-Modification Outstanding Balance $ 282 $ 282
Post-Modification Outstanding Balance262 267
Commercial Real Estate Loans [Member] | Agricultural [Member] | Rate Modification [Member]
Financing Receivable, Modifications [Line Items]
Post-Modification Outstanding Balance $ 262 $ 267
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | Contract18 21
Pre-Modification Outstanding Balance $ 2,495 $ 2,913
Post-Modification Outstanding Balance1,484 2,037
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Rate Modification [Member]
Financing Receivable, Modifications [Line Items]
Post-Modification Outstanding Balance953 1,441
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Term Modification [Member]
Financing Receivable, Modifications [Line Items]
Post-Modification Outstanding Balance157 165
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member] | Rate and Term Modification [Member]
Financing Receivable, Modifications [Line Items]
Post-Modification Outstanding Balance $ 374 $ 431
Total Real Estate [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | Contract34 38
Pre-Modification Outstanding Balance $ 9,218 $ 14,763
Post-Modification Outstanding Balance6,345 11,776
Total Real Estate [Member] | Rate Modification [Member]
Financing Receivable, Modifications [Line Items]
Post-Modification Outstanding Balance5,097 6,058
Total Real Estate [Member] | Term Modification [Member]
Financing Receivable, Modifications [Line Items]
Post-Modification Outstanding Balance787 555
Total Real Estate [Member] | Rate and Term Modification [Member]
Financing Receivable, Modifications [Line Items]
Post-Modification Outstanding Balance $ 461 $ 5,163
Commercial and Industrial [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | Contract9 12
Pre-Modification Outstanding Balance $ 2,354 $ 2,470
Post-Modification Outstanding Balance366 526
Commercial and Industrial [Member] | Rate Modification [Member]
Financing Receivable, Modifications [Line Items]
Post-Modification Outstanding Balance201 308
Commercial and Industrial [Member] | Term Modification [Member]
Financing Receivable, Modifications [Line Items]
Post-Modification Outstanding Balance87 127
Commercial and Industrial [Member] | Rate and Term Modification [Member]
Financing Receivable, Modifications [Line Items]
Post-Modification Outstanding Balance $ 78 $ 91

Allowance for Credit Losses,_11

Allowance for Credit Losses, Credit Quality and Other - Presentation of TDR's on Non-Accrual Status (Detail) $ in Thousands9 Months Ended12 Months Ended
Sep. 30, 2021USD ($)ContractDec. 31, 2020USD ($)Contract
Financing Receivable, Modifications [Line Items]
Number of Loans | Contract20 19
Recorded Balance | $ $ 1,149 $ 1,587
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | Contract2 2
Recorded Balance | $ $ 9 $ 350
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | Contract2 1
Recorded Balance | $ $ 216 $ 9
Commercial Real Estate Loans [Member] | Agricultural [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | Contract1 1
Recorded Balance | $ $ 262 $ 267
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | Contract6 7
Recorded Balance | $ $ 405 $ 547
Total Real Estate [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | Contract11 11
Recorded Balance | $ $ 892 $ 1,173
Consumer [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | Contract3
Recorded Balance | $ $ 3
Commercial and Industrial [Member]
Financing Receivable, Modifications [Line Items]
Number of Loans | Contract6 8
Recorded Balance | $ $ 254 $ 414

Allowance for Credit Losses,_12

Allowance for Credit Losses, Credit Quality and Other - Summary of Total Foreclosed Assets (Detail) - USD ($) $ in ThousandsSep. 30, 2021Dec. 31, 2020
Commercial Real Estate Loans [Member] | Non-Farm/Non-residential [Member]
Schedule Of Foreclosed Assets Activity [Line Items]
Total foreclosed assets held for sale $ 261 $ 438
Commercial Real Estate Loans [Member] | Construction/Land Development Loan [Member]
Schedule Of Foreclosed Assets Activity [Line Items]
Total foreclosed assets held for sale835 3,189
Residential Real Estate Loans [Member] | Residential 1-4 Family [Member]
Schedule Of Foreclosed Assets Activity [Line Items]
Total foreclosed assets held for sale75 793
Total Real Estate [Member]
Schedule Of Foreclosed Assets Activity [Line Items]
Total foreclosed assets held for sale $ 1,171 $ 4,420

Goodwill and Core Deposits an_3

Goodwill and Core Deposits and Other Intangibles - Summary of Changes in Carrying Amount and Accumulated Amortization of Company's Goodwill and Core Deposits and Other Intangibles (Detail) - USD ($) $ in Thousands3 Months Ended9 Months Ended12 Months Ended
Sep. 30, 2021Dec. 31, 2020Sep. 30, 2020Sep. 30, 2021Sep. 30, 2020Dec. 31, 2020
Goodwill
Balance, beginning of period $ 973,025 $ 958,408 $ 958,408
Acquisitions14,617
Balance, end of period $ 973,025 $ 973,025 973,025 973,025
Core Deposit and Other Intangibles
Balance, beginning of period32,149 30,728 36,572 36,572
Amortization expense(1,421)(1,421) $ (1,420)(4,262)(4,423)
Balance, end of year $ 26,466 $ 30,728 $ 32,149 $ 26,466 $ 32,149 $ 30,728

Goodwill and Core Deposits an_4

Goodwill and Core Deposits and Other Intangibles - Summary of Carrying Amount and Accumulated Amortization of Core Deposits and Other Intangibles (Detail) - USD ($) $ in ThousandsSep. 30, 2021Dec. 31, 2020Sep. 30, 2020Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Gross carrying basis $ 86,625 $ 86,625
Accumulated amortization(60,159)(55,897)
Net carrying amount $ 26,466 $ 30,728 $ 32,149 $ 36,572

Goodwill and Core Deposits an_5

Goodwill and Core Deposits and Other Intangibles - Additional Information (Detail) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2021Dec. 31, 2020Sep. 30, 2020Sep. 30, 2021Sep. 30, 2020Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Core deposit and other intangible amortization $ 1,421 $ 1,421 $ 1,420 $ 4,262 $ 4,423
Amortization expense for year 20215,700 5,700
Amortization expense for year 20225,700 5,700
Amortization expense for year 20235,500 5,500
Amortization expense for year 20244,300 4,300
Amortization expense for year 20253,900 3,900
Carrying amount of Company's goodwill $ 973,025 $ 973,025 $ 973,025 $ 958,408

Other Assets - Additional Infor

Other Assets - Additional Information (Detail) - USD ($) $ in ThousandsSep. 30, 2021Dec. 31, 2020
Schedule Of Other Assets [Line Items]
Other assets $ 171,192 $ 164,904
Federal Home Loan Bank ("FHLB") and Federal Reserve Bank ("Federal Reserve") [Member]
Schedule Of Other Assets [Line Items]
Fair value of equity securities88,100 86,700
First National Bankers' Bank and Other Miscellaneous Holdings [Member]
Schedule Of Other Assets [Line Items]
Fair value of equity securities $ 34,800 $ 28,200

Deposits - Additional Informati

Deposits - Additional Information (Detail) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2021Sep. 30, 2020Sep. 30, 2021Sep. 30, 2020Dec. 31, 2020
Deposits [Line Items]
Time deposits with a minimum denomination of $250,000 $ 476,600 $ 476,600 $ 558,000
Time deposits with a minimum denomination of $100,000701,300 701,300 864,300
Interest expense applicable to certificate1,700 $ 5,600 6,100 $ 18,800
Brokered deposits625,700 625,700 635,700
Total deposits $ 14,003,371 $ 14,003,371 12,725,790
State and Political Subdivisions [Member]
Deposits [Line Items]
Total deposits $ 1,860,000 $ 1,860,000 $ 1,980,000

Securities Sold Under Agreeme_3

Securities Sold Under Agreements to Repurchase - Additional Information (Detail) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2021Sep. 30, 2020Sep. 30, 2021Sep. 30, 2020Dec. 31, 2020
Securities Sold Under Agreements To Repurchase [Abstract]
Securities sold under agreements to repurchase $ 141,002 $ 141,002 $ 168,931
Securities sold under agreements to repurchase daily weighted average $ 143,900 $ 157,200 $ 153,700 $ 150,000

Securities Sold Under Agreeme_4

Securities Sold Under Agreements to Repurchase - Summary of Remaining Contractual Maturity of Securities Sold Under Agreements to Repurchase (Detail) - USD ($) $ in ThousandsSep. 30, 2021Dec. 31, 2020
Assets Sold under Agreements to Repurchase [Line Items]
Total borrowings $ 141,002 $ 168,931
Overnight and Continuous [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Total borrowings141,002 168,931
U.S. Government-Sponsored Enterprises [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Total borrowings8,753 11,166
U.S. Government-Sponsored Enterprises [Member] | Overnight and Continuous [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Total borrowings8,753 11,166
Mortgage-Backed Securities [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Total borrowings7,979 18,830
Mortgage-Backed Securities [Member] | Overnight and Continuous [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Total borrowings7,979 18,830
State and Political Subdivisions [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Total borrowings121,412 135,308
State and Political Subdivisions [Member] | Overnight and Continuous [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Total borrowings121,412 135,308
Other Securities [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Total borrowings2,858 3,627
Other Securities [Member] | Overnight and Continuous [Member]
Assets Sold under Agreements to Repurchase [Line Items]
Total borrowings $ 2,858 $ 3,627

FHLB and Other Borrowed Funds -

FHLB and Other Borrowed Funds - Additional Information (Detail) - USD ($)Sep. 30, 2021Dec. 31, 2020
Borrowed Funds [Line Items]
FHLB borrowed funds $ 400,000,000 $ 400,000,000
Maturity of FHLB advances2033
Other short term borrowings $ 0 0
Line of credit1,120,000,000 1,110,000,000
Line of Credit [Member]
Borrowed Funds [Line Items]
Line of credit0 $ 0
Credit facility, maximum borrowing capacity $ 20,000,000
Minimum [Member]
Borrowed Funds [Line Items]
FHLB interest rate1.76%
Maximum [Member]
Borrowed Funds [Line Items]
FHLB interest rate2.26%

Subordinated Debentures - Prefe

Subordinated Debentures - Preferred Trust Securities and Subordinated Debt Securities (Detail) - USD ($) $ in ThousandsSep. 30, 2021Dec. 31, 2020
Debt Instrument [Line Items]
Subordinated debentures, issued $ 370,900 $ 370,326
Due 2036, fixed rate of 6.75% during the first five years and at a floating rate of 1.85% [Member] | Trust Preferred Securities [Member]
Debt Instrument [Line Items]
Subordinated debentures, issued3,093 3,093
Due 2034, fixed rate of 6.00% during the first five years and at a floating rate of 2.00% [Member] | Trust Preferred Securities [Member]
Debt Instrument [Line Items]
Subordinated debentures, issued15,464 15,464
Due 2035, fixed rate of 5.84% during the first five years and at a floating rate of 1.45% [Member] | Trust Preferred Securities [Member]
Debt Instrument [Line Items]
Subordinated debentures, issued25,774 25,774
Due 2034, fixed rate of 4.29% during the first five years and at a floating rate of 2.50% [Member] | Trust Preferred Securities [Member]
Debt Instrument [Line Items]
Subordinated debentures, issued16,495 16,495
Due 2035, floating rate 2.15% [Member] | Trust Preferred Securities [Member]
Debt Instrument [Line Items]
Subordinated debentures, issued4,489 4,452
Due 2036, fixed Rate 7.38% during the first five years and at a floating rate of 1.62% [Member] | Trust Preferred Securities [Member]
Debt Instrument [Line Items]
Subordinated debentures, issued5,919 5,849
Due 2027, Fixed Rate of 5.625% During the First Five Years and at a Floating Rate of 3.575% [Member] | Subordinated Debt [Member]
Debt Instrument [Line Items]
Subordinated debentures, issued $ 299,666 $ 299,199

Subordinated Debentures - Pre_2

Subordinated Debentures - Preferred Trust Securities and Subordinated Debt Securities (Parenthetical) (Detail)9 Months Ended12 Months Ended
Sep. 30, 2021Dec. 31, 2020
Due 2036, fixed rate of 6.75% during the first five years and at a floating rate of 1.85% [Member] | Trust Preferred Securities [Member]
Debt Instrument [Line Items]
Subordinated debentures, issued dateDec. 31,
2006
Dec. 31,
2006
Subordinated debentures, due dateDec. 31,
2036
Dec. 31,
2036
Fixed rate for first five years6.75%6.75%
Due 2036, fixed rate of 6.75% during the first five years and at a floating rate of 1.85% [Member] | Trust Preferred Securities [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Floating rate above three-month LIBOR rate1.85%1.85%
Due 2034, fixed rate of 6.00% during the first five years and at a floating rate of 2.00% [Member] | Trust Preferred Securities [Member]
Debt Instrument [Line Items]
Subordinated debentures, issued dateDec. 31,
2004
Dec. 31,
2004
Subordinated debentures, due dateDec. 31,
2034
Dec. 31,
2034
Fixed rate for first five years6.00%6.00%
Due 2034, fixed rate of 6.00% during the first five years and at a floating rate of 2.00% [Member] | Trust Preferred Securities [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Floating rate above three-month LIBOR rate2.00%2.00%
Due 2035, fixed rate of 5.84% during the first five years and at a floating rate of 1.45% [Member] | Trust Preferred Securities [Member]
Debt Instrument [Line Items]
Subordinated debentures, issued dateDec. 31,
2005
Dec. 31,
2005
Subordinated debentures, due dateDec. 31,
2035
Dec. 31,
2035
Fixed rate for first five years5.84%5.84%
Due 2035, fixed rate of 5.84% during the first five years and at a floating rate of 1.45% [Member] | Trust Preferred Securities [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Floating rate above three-month LIBOR rate1.45%1.45%
Due 2034, fixed rate of 4.29% during the first five years and at a floating rate of 2.50% [Member] | Trust Preferred Securities [Member]
Debt Instrument [Line Items]
Subordinated debentures, issued dateDec. 31,
2004
Dec. 31,
2004
Subordinated debentures, due dateDec. 31,
2034
Dec. 31,
2034
Fixed rate for first five years4.29%4.29%
Due 2034, fixed rate of 4.29% during the first five years and at a floating rate of 2.50% [Member] | Trust Preferred Securities [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Floating rate above three-month LIBOR rate2.50%2.50%
Due 2035, floating rate 2.15% [Member] | Trust Preferred Securities [Member]
Debt Instrument [Line Items]
Subordinated debentures, issued dateDec. 31,
2005
Dec. 31,
2005
Subordinated debentures, due dateDec. 31,
2035
Dec. 31,
2035
Due 2035, floating rate 2.15% [Member] | Trust Preferred Securities [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Floating rate above three-month LIBOR rate2.15%2.15%
Due 2036, fixed Rate 7.38% during the first five years and at a floating rate of 1.62% [Member] | Trust Preferred Securities [Member]
Debt Instrument [Line Items]
Subordinated debentures, issued dateDec. 31,
2006
Dec. 31,
2006
Subordinated debentures, due dateDec. 31,
2036
Dec. 31,
2036
Fixed rate for first five years7.38%7.38%
Due 2036, fixed Rate 7.38% during the first five years and at a floating rate of 1.62% [Member] | Trust Preferred Securities [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Floating rate above three-month LIBOR rate1.62%1.62%
Due 2027, Fixed Rate of 5.625% During the First Five Years and at a Floating Rate of 3.575% [Member] | Subordinated Debt [Member]
Debt Instrument [Line Items]
Subordinated debentures, issued dateDec. 31,
2017
Dec. 31,
2017
Subordinated debentures, due dateDec. 31,
2027
Dec. 31,
2027
Fixed rate for first five years5.625%5.625%
Due 2027, Fixed Rate of 5.625% During the First Five Years and at a Floating Rate of 3.575% [Member] | Subordinated Debt [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Floating rate above three-month LIBOR rate3.575%3.575%
Subordinated debentures, callable year20222022

Subordinated Debentures - Addit

Subordinated Debentures - Additional Information (Detail) - USD ($) $ in ThousandsApr. 03, 2017Sep. 30, 2021Dec. 31, 2020
Debt Instrument [Line Items]
Assets $ 17,765,056 $ 16,398,804
Trust Preferred Securities [Member]
Debt Instrument [Line Items]
Face value of company held trust preferred securities73,300
Assets $ 15,000,000
5.625% Fixed-to-Floating Rate Subordinated Notes due 2027 [Member]
Debt Instrument [Line Items]
Trust preferred securities, face amount $ 300,000
Subordinated debt issuance dateApr. 3,
2017
Subordinated notes, Interest rate5.625%
Net proceeds from subordinated debt issuance, after underwriting discounts $ 297,000
Subordinated notes, Maturity dateApr. 15,
2027
Notes issued, Interest rate termsFrom and including April 15, 2022 to, but excluding the maturity date or earlier redemption, the Notes will bear interest at a floating rate equal to three-month LIBOR as calculated on each applicable date of determination plus a spread of 3.575%; provided, however, that in the event three-month LIBOR is less than zero, then three-month LIBOR shall be deemed to be zero
Percentage of redemption price on principal100.00%
5.625% Fixed-to-Floating Rate Subordinated Notes due 2027 [Member] | LIBOR [Member]
Debt Instrument [Line Items]
LIBOR plus rate, Percentage3.575%

Income Taxes - Summary of Compo

Income Taxes - Summary of Components of Provision (Benefit) for Income Taxes (Detail) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2021Sep. 30, 2020Sep. 30, 2021Sep. 30, 2020
Current:
Federal $ 14,693 $ 16,271 $ 52,771 $ 57,154
State4,864 5,386 17,470 18,921
Total current19,557 21,657 70,241 76,075
Deferred:
Federal2,744 (451)5,211 (29,071)
State908 (149)1,725 (9,624)
Total deferred3,652 (600)6,936 (38,695)
Income tax expense $ 23,209 $ 21,057 $ 77,177 $ 37,380

Income Taxes - Reconciliation b

Income Taxes - Reconciliation between Statutory Federal Income Tax Rate and Effective Income Tax Rate (Detail)3 Months Ended9 Months Ended
Sep. 30, 2021Sep. 30, 2020Sep. 30, 2021Sep. 30, 2020
Effective Income Tax Rate Continuing Operations Tax Rate Reconciliation [Abstract]
Statutory federal income tax rate21.00%21.00%21.00%21.00%
Effect of non-taxable interest income(1.08%)(1.03%)(1.00%)(1.48%)
Stock compensation0.16%1.17%0.23%0.53%
State income taxes, net of federal benefit3.50%3.82%4.00%3.00%
Executive officer compensation & other0.05%(1.66%)(0.32%)(1.07%)
Effective income tax rate23.63%23.30%23.91%21.98%

Income Taxes - Differences Betw

Income Taxes - Differences Between Tax Basis of Assets and Liabilities (Detail) - USD ($) $ in ThousandsSep. 30, 2021Dec. 31, 2020
Deferred tax assets:
Allowance for credit losses $ 69,135 $ 72,445
Deferred compensation4,751 4,741
Stock compensation5,475 4,768
Non-accrual interest income853 775
Real estate owned109 620
Loan discounts4,151 6,806
Tax basis premium/discount on acquisitions3,693 5,101
Investments273 502
Deposits(57)(33)
Other5,259 5,855
Gross deferred tax assets93,642 101,580
Deferred tax liabilities:
Accelerated depreciation on premises and equipment264 1,929
Unrealized gain on securities9,735 15,072
Core deposit intangibles6,066 7,056
FHLB dividends2,807 2,711
Other5,046 4,563
Gross deferred tax liabilities23,918 31,331
Net deferred tax assets $ 69,724 $ 70,249

Common Stock, Compensation Pl_3

Common Stock, Compensation Plans and Other - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions3 Months Ended9 Months Ended12 Months Ended
Sep. 30, 2021Jun. 30, 2021Mar. 31, 2021Mar. 31, 2020Sep. 30, 2021Dec. 31, 2020Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares authorized300,000,000 300,000,000 300,000,000
Common stock, par value $ 0.01 $ 0.01 $ 0.01
Preferred stock, shares authorized5,500,000 5,500,000
Preferred stock, par value $ 0.01 $ 0.01
Number of shares repurchased during period476,500 635,000 330,000 1,423,560 1,400,000
Weighted average stock price $ 25.64
Remaining balance available for repurchase22,402,165 22,402,165
Repurchase of combining of all the shares17,349,835
Maximum number of shares available for grants under the plan13,288,000 13,288,000
Remaining shares of common stock available for future grants1,602,000